I wonder how some people sleep at night with a conscience that is dead and buried! I've never seen this level of sycophancy before, not even during Abacha regime. What a shame! Its unfortunate that I have to share the same country with these wicked beings.

ballabriggs:

You are dull. Copy the Minister? A confidential letter to the President? I do not get your point. Is it that what was meant to be remitted has been remitted?

What is the proper protocol? Do you have any document to refer me to what the proper process is?

You are known for unguarded sentimental outburst and occasionally spewing crap. I remembered the craps you vomited during Stella Oduah's debate on this forum only to found out a dullard such as you does not even comprehend the connotation of the word- corruption.

I really wonder why a mere treasurer will take up a matter of financial discrepancies with the chairman without notifying the financial secretary. Nigeria is really a jungle. I expect the House committee on finance to invite Sanusi Lamido Sanusi, NNPC director and Minister of Finance for a hearing.

Dende slowpoke is back

re@lchange:
sanusi is flying a kite
only he knows the real motive behind his letter
because he can't convince us that he just woke up to see this
where was he all these four years?
his term ends next year

This is the reason democracy is a dangerous proposition for people who are mentally unstable.

^^^^^^^^
Still not making sense.

DerideGull:

You are known for unguarded sentimental outburst and occasionally spewing crap. I remembered the craps you vomited during Stella Oduah;s debate on this forum only to found out a dullard such as you does not even comprehend the connotation of the word- corruption.

I really wonder why a mere treasurer will take up of matter of financial discrepancies with chairman without notifying the financial secretary. Nigeria is really a jungle. I expect the House committee on finance to invite Sanusi Lamido Sanusi, NNPC director and Minister of Finance for a hearing.

Mr man close your mouth and read this part of the mans letter.

"Your Excellency, I have attached as an appendix, a table giving the analysis of the crude oil lifting and repatriations as prepared by staff of Trade & Exchange and Banking & Payments System Departments of the CBN based on the firm documentation in their possession. The failure of NNPC to repatriate these amounts constitutes not only a violation of constitutional provisions but also of both the Foreign Exchange (Monitoring and Miscellaneous Provisions) Act No. 17 of 1995 and the Pre-Shipment Inspection of Exports Act No. 10 of 1996 which stipulates that “An exporter of goods, including petroleum products, shall open, maintain and operate a foreign currency domiciliary account in Nigeria into which shall be paid all exports proceeds corresponding to the entire proceeds of the exports concerned”.

What he is saying there is, he knows one exporter of this oil called the NNPC. Under the export laws, the NNPC ought to bring back its export proceeds. He does not know the DPR as the exporter!

Where is the FOREX from these exports from 2012 to 2013?

seanet02: Dende slowpoke is back

Seen a fool

You have proven that stupidity can not be fixed.

[quote author=DerideGull]

Seen a fool

You have proven that stupidity can not be fixed.


[/quote
The inherited stvpidity in you have continue to defy logic

ballabriggs:

Mr man close your mouth and read this part of the mans letter.

"Your Excellency, I have attached as an appendix, a table giving the analysis of the crude oil lifting and repatriations as prepared by staff of Trade & Exchange and Banking & Payments System Departments of the CBN based on the firm documentation in their possession. The failure of NNPC to repatriate these amounts constitutes not only a violation of constitutional provisions but also of both the Foreign Exchange (Monitoring and Miscellaneous Provisions) Act No. 17 of 1995 and the Pre-Shipment Inspection of Exports Act No. 10 of 1996 which stipulates that “An exporter of goods, including petroleum products, shall open, maintain and operate a foreign currency domiciliary account in Nigeria into which shall be paid all exports proceeds corresponding to the entire proceeds of the exports concerned”.

What he is saying there is, he knows one exporter of this oil called the NNPC. Under the export laws, the NNPC ought to bring back its export proceeds. He does not know the DPR as the exporter!

Where is the FOREX from these exports from 2012 to 2013?

“For the avoidance of doubt, it needs to be stated that the figure of 594.024 million barrels of crude oil given by the CBN as the total crude oil lifting for the period of January 2012 to July 2013 does not represent the correct picture of crude oil lifting for the period. From our records, the correct figure is 618.55m barrels. This shows that the CBN understated the actual crude lifting by 4.13%,” Dr. Ibrahim stated.

“He explained that revenues from crude oil liftings are in various categories, namely Equity Crude; Petroleum Profit Tax, Royalty, Third Party Financing and the Nigerian Petroleum Development Company, NPDC. Revenues from each of these categories are statutorily collected by different agencies of the government. The NNPC collects only one of the aforementioned categories, namely Equity Crude. Petroleum Profit Tax is collected by the Federal Inland Revenue Service, FIRS, Royalty goes to the Department of Petroleum Resources, DPR, Third Party financing goes for Research, Development, Program and Satellite fields Development, while NPDC goes to NPDC for upstream development.

“While NNPC pays proceeds from Equity crude directly to the Federation Account with the CBN, the FIRS and DPR pay PPT and Royalty respectively into the Federation Account with the CBN. The sum total of these proceeds make up the alleged unremitted revenues, Dr. Ibrahim stated.

“The 24% of total crude oil revenue receipts which the CBN governor is reported to have acknowledged that NNPC remitted represents the proceeds from the equity lifting which NNPC is directly responsible for. The alleged unremitted 76% was paid to the agencies that are statutorily empowered to receive them for onward remittance into the Federation Account”, Dr. Ibrahim explaine"



If your so-called Governor of CBN does not understand the above excerpts of rebuttal from NNPC personal, Dr. Ibrahim and the nuances involved in remittance of proceeds from NNPC and crude oil companies, he, Sanudi Lamido Sanusi does not deserve to be governor of CBN.

If you take time and read Dr Ibrahim's rebuttal on behalf of NNPC (especially the sentence in the bold), he was specifically calling Sanusi Lamido a zoombi, a dunce who needs to up his on the job training skills

“While NNPC pays proceeds from Equity crude directly to the Federation Account with the CBN, the FIRS and DPR pay PPT and Royalty respectively into the Federation Account with the CBN. The sum total of these proceeds make up the alleged unremitted revenues, Dr. Ibrahim stated.

“The 24% of total crude oil revenue receipts which the CBN governor is reported to have acknowledged that NNPC remitted represents the proceeds from the equity lifting which NNPC is directly responsible for. The alleged unremitted 76% was paid to the agencies that are statutorily empowered to receive them for onward remittance into the Federation Account”, Dr. Ibrahim explained.

“He stressed the need for institutions of the Federal Government and top government functionaries to seek understanding of issues that are not clear to them from relevant agencies rather than go public with misleading information that is capable of creating public disaffection.

He expressed NNPC’s availability at all times to meet with all relevant stakeholders to clarify issues.

seanet02:
The inherited stvpidity in you have continue to defy logic

You are inherently moronic, olodo.

DerideGull:


People in sensitive positions are required to look before leap. Bros I have self restraints engaged before dribbling with word known as corruption. It appears Nigerians have fallen in love with word – corruption. I do not think that the position of the governor of CBN is reserved for whistle blowers.

I think i agree with you on the bolded

Ngwakwe: If you take time and read Dr Ibrahim's rebuttal on behalf of NNPC (especially the sentence in the bold), he was specifically calling Sanusi Lamido a zoombi, a dunce who needs to up his on the job training skills

Again, your post has magnified the ugliness of leaving certain principles of democracy in the hands of ill-educated scoundrels such as Sanusi Lamido Sanusi, Seen a fool (seanet02) and Ballaburger (Ballabriggs)

DerideGull:

Again, your post has magnified the ugliness of leaving certain principles of democracy in the hands of ill-educated scoundrels such as Sanusi Lamido Sanusi, Seen a fool (seanet02) and Ballaburger (Ballabriggs)

This your bad mouth eh !

Ngwakwe: We will get to the root of the matter as more information and detailed explanations of claims and counter claims surface.

It is either Sanusi Lamido wants to claim I too know where his ignorance started or NNPC is trying to convince Nigerians that there was communication gap between CBN and NNPC..

We are yet to hear how NOI, DAM and Jonathan connived to swindle the 76% of $65 Billion belonging to all of us or was it an attempt to lynch our top most enemies and shout corruption, corruption where it never existed.

We will be waiting for more information to enable us (the citizens) to add one and two in order to see if we will get three.

There is a tradition, a history of NNPC remitting money into that account. Regardless of who is regulated to do whatever, a certain accountability is scheduled to be in the books and that schedule has been met in past by NNPC, not PDP, ACN, APC, CNPP, and all the mumbo jumbo that the spokesman read out.

All those other sub NNPC processes are irrelevant to the subject, what this spokesman laid out had not been the past traditions. What changed and where is our money?

Ngwakwe: If you take time and read Dr Ibrahim's rebuttal on behalf of NNPC (especially the sentence in the bold), he was specifically calling Sanusi Lamido a zoombi, a dunce who needs to up his on the job training skills

Ibrahim does not need to bore us with processes, the total amount coming from NNPC and its subs into the treasury, regardless who does what, is short by $49.8b. Where is our money?

Sanusi doesnt care if you take taxi, bus, okada or Stealer Oduah bmw to drive up to CBN...just get here, period!

Ibrahim is telling us how he geta up in morning to sound of alarm clock, brush teeth, takes shower, eat breakfast, gets dressed and then stand at bus stop..and oh by the way he had an argument and a near fisticuffs with conductor, and thats why he couldnt make it to CBN, therefore the public should blame Sanusi for lacking empathy for his dilemma.

N**ga, where is our money

ballabriggs: Sanusi has been Governor of CBN for over 4 years now and it is not the first time he has seen inflows into the federation account. If something unusual has happened, he can always tell.

For him to have written such a letter to Jona, then the situation must have gone really bad.

Nigerians pray hard for your country.

Just exactly my thought. Sanusi is not just knowing who paid what into the federation account. He did not complain about the periods before January 2012 and he has been governor before then. NNPC should be made to come clean.

Is Federal Inland Revenue Service and DPR part of NNPC?

Let's wait to hear from FIRS and DPR to speak for themselves and allow the us to judge and consequently ask for our money if it's actually missing or diverted for personal gains.

Mayor_of_Lagos:
All those other sub NNPC processes are irrelevant to the subject, what this spokesman laid out had not been the past traditions. What changed and where is our money?

Ngwakwe: Is Federal Inland Revenue Service and DPR part of NNPC?

Let's wait to hear from FIRS and DPR to speak for themselves and allow the us to judge and consequently ask for our money if it's actually missing or diverted for personal gains.

If FIRS and DPR are part of the depositing crew now, then unless a statute has changed their protocols in the interim, they were also required to deposit money back in 2012 and 2011 and 2010. Mallam Sanusi is talking about a specific period in which statutory requirements were a constant but yet the scheduled deposits were not met, even though calculated taxes were incoming.

Where is the sales that the tax was levied against?

If you charge 1%tax everytime you sell a gallon of palm oil for #100 and you sold 500gallons of oil, then your treasurer received #500 in tax..by calculation he is expecting to get #50,000 in sale receipts. Unless there were some days in which you had discounted sales and sold below price. Bottom line..we cant find #50,000 and there were no discounts in the period.

All the cock and bull story about rain and flood affected sale and PDP rally brought loss and Iyaloja burial forced me to close shop is nonsense and we dont want to hear it. You cannot generate tax returns unless there were sales, and if there were sales..where is the money?

i tire for these noise makersoooooo......
is it your oil?
is it your money?
if the answer to any of these is negative;
do the needful(go n die....oshobaba's voice).

gondie: i tire for these noise makersoooooo......
is it your oil?
is it your money?
if the answer to any of these is negative;
do the needful(go n die....oshobaba's voice).

Unfortunately for you, the answer is yes. Its our money. Olodo illiterate.

gondie: i tire for these noise makersoooooo......
is it your oil?
is it your money?
if the answer to any of these is negative;
do the needful(go n die....oshobaba's voice).

Foolish boy, tell us whose money it was.....

What shall we not hear in this country on a daily basis? Hmm!

Ngwakwe: We will get to the root of the matter as more information and detailed explanations of claims and counter claims surface.

It is either Sanusi Lamido wants to claim I too know where his ignorance started or NNPC is trying to convince Nigerians that there was communication gap between CBN and NNPC..

We are yet to hear how NOI, DAM and Jonathan connived to swindle the 76% of $65 Billion belonging to all of us or was it an attempt to lynch our top most enemies and shout corruption, corruption where it never existed.

We will be waiting for more information to enable us (the citizens) to add one and two in order to see if we will get three.

This cocaine that ure obviously addicted to, when do you sniff it; first thing when u wake up in the morning or early afternoon? I'm only asking cus ur bigoted attempt at diverting our attention from the issue at hand only makes u look crazy.

People will jump in and support the government without even thinking of the issues at at.

People should ask;
why is the period from January 2012 - July 2013 different from all other periods in nigerian and NNPC's history? Why is it this period that sanusi is complaining about? After all sanusi had been cbn governor since 2010.

Was there a change of protocol in 2010 in the way oil proceeds were remitted into the federation account and CBN was not made aware?

Why did the Jonathan government not respond to sanusi's concerns for more than 2 months? only for NNPC to rush out a rebuttal less than 24 hours after the letter went public. When was president Jonathan planning to respond to sanusi?

Why is the response not coming from the finance ministry instead of NNPC? Sanusi is accusing the NNPC of graft, you do not expect the same NNPC to agree to allegations. The fact that Sanusi bye-passed the NNPC and the finance ministry and wrote directly to the president shows he has lost confidence in those institutions.

What did president Jonathan do after receipt of the letter? Common sense dictates that he should have sent the letter to NNPC and finance ministry for explanation and forward same to EFCC and ICPC for investigation.

JulianBond007: Very true! The painful part of it is that the dunce of a president will not do anything about it. He will set up a committee for probe and that ends the story.

You can say that again. The letter was allegedly submitted since September, over two months already.

wirinet: People will jump in and support the government without even thinking of the issues at at.

People should ask;
why is the period from January 2012 - July 2013 different from all other periods in nigerian and NNPC's history? Why is it this period that sanusi is complaining about? After all sanusi had been cbn governor since 2010.

Was there a change of protocol in 2010 in the way oil proceeds were remitted into the federation account and CBN was not made aware?

Why did the Jonathan government not respond to sanusi's concerns for more than 2 months? only for NNPC to rush out a rebuttal less than 24 hours after the letter went public. When was president Jonathan planning to respond to sanusi?

Why is the response not coming from the finance ministry instead of NNPC? Sanusi is accusing the NNPC of graft, you do not expect the same NNPC to agree to allegations. The fact that Sanusi bye-passed the NNPC and the finance ministry and wrote directly to the president shows he has lost confidence in those institutions.

What did president Jonathan do after receipt of the letter? Common sense dictates that he should have sent the letter to NNPC and finance ministry for explanation and forward same to EFCC and ICPC for investigation.

Jona probably did like his supporters and didn't read the long epistle lol

eGuerrilla:

“For the avoidance of doubt, it needs to be stated that the figure of 594.024 million barrels of crude oil given by the CBN as the total crude oil lifting for the period of January 2012 to July 2013 does not represent the correct picture of crude oil lifting for the period. From our records, the correct figure is 618.55m barrels. This shows that the CBN understated the actual crude lifting by 4.13%,” Dr. Ibrahim stated.

“He explained that revenues from crude oil liftings are in various categories, namely Equity Crude; Petroleum Profit Tax, Royalty, Third Party Financing and the Nigerian Petroleum Development Company, NPDC. Revenues from each of these categories are statutorily collected by different agencies of the government. The NNPC collects only one of the aforementioned categories, namely Equity Crude. Petroleum Profit Tax is collected by the Federal Inland Revenue Service, FIRS, Royalty goes to the Department of Petroleum Resources, DPR, Third Party financing goes for Research, Development, Program and Satellite fields Development, while NPDC goes to NPDC for upstream development.

“While NNPC pays proceeds from Equity crude directly to the Federation Account with the CBN, the FIRS and DPR pay PPT and Royalty respectively into the Federation Account with the CBN. The sum total of these proceeds make up the alleged unremitted revenues, Dr. Ibrahim stated.

“The 24% of total crude oil revenue receipts which the CBN governor is reported to have acknowledged that NNPC remitted represents the proceeds from the equity lifting which NNPC is directly responsible for. The alleged unremitted 76% was paid to the agencies that are statutorily empowered to receive them for onward remittance into the Federation Account”, Dr. Ibrahim explaine"

http://ireports-ng.com/2013/12/10/amaechi-manipulated-in-leakage-of-cbn-govs-letter-to-president-jonathan-on-the-theft-of-50-billion-oil-earnings-by-nnpc-youre-ignorant-corporation-hits-back-at-lamido-sanusi/

That was a deadly blow to our own Sanusi. But we know Tinubu rats will hold steadfastly to the Sanusi ignorant letter because that is what suits the political interest of their master, Tinubu.

texazzpete:

Well, we both know that the CBN Governor has been collecting accolades for his stewardship.

You, on the other hand, will remain an unheralded internet troll.

FATALITY!

What is that your name again?
Which village are you from?
do the needful; go and die

agbameta:

Unfortunately for you, the answer is yes. Its our money. Olodo illiterate.

why are you guys crying over a non missing oil money?
can't you be useful to yourself without the share of the plundered SS wealth?

sincerenigerian: Foolish boy, tell us whose money it was.....