Hopefully, NNPC will be forced to cough out the billions of dollars they've been commandeering and other guilty government agencies will do the same. Without Sanusi's brave action, this wouldn't have happened - they can't sweep this under the carpet.

I wonder why it took Sanusi's letter for these incompetent thieves to realize that transparency is necessary in the management of the nation’s abundant extractive resources. Duk barawo banza.

The Federal Government yesterday inaugurated an inter-ministerial task team to recover all unremitted revenues discovered from audit findings.

The move was proposed to government by the Nigeria Extractive Industries Transparency Initiative (NEITI).

Inaugurating the committee in Abuja, the Secretary to the Government of the Federation (SGF), Anyim Pius Anyim, maintained that Nigeria signed up to the initiative based on the clear conviction that transparency in the management of the nation’s abundant extractive resources will boost government’s efforts to reduce poverty, sustain development, social harmony and better investment climate.

Stressing that the Federal Government fully supports the regular audit and prompt implementation of issues that may arise, he charged the reconstituted task team to work closely with NEITI with a view to ensuring prompt recovery of all outstanding revenues due to the Federal Government from audit findings.

The chairman of the task team, Ledum Mitee, said the reports are not intended to witch-hunt”.

Source

I thought the FG initiated the Audit and not Sanusi Lamido.

Moreover, this is not the first and wouldn't be the last.

Below is November, 2012 commission.

www.nairaland.com/1115965/fg-retrieve-n1.3-trillion-nnpc

The National Extractive Industries Transparency Initiative (NEITI) has revealed the plan to recover the sum of N1.3 trillion from the Nigerian National Petroleum Corporation (NNPC) and other multi-national companies.


The Federal Government’s bid to recover its debt owed by the NNPC was contained in a statement issued at the end of the NEITI retreat in Abuja.

The statement quoted the President as pledging that an inter-ministerial task team would be charged with the responsibility of ensuring the full implementation of NEITI audit report findings.

President Jonathan stated that the task team would comprise high-ranking government officials as well as government agencies that are saddled with either the responsibility of collecting or managing Nigeria’s oil and gas revenue.

Jonathan described NEITI as an important anti-corruption agency in the oil and gas sector whose report, findings and recommendations should be implemented to set the tone for the oil and gas sector.

The President again re-assured the nation that his administration has no intention to “cover up any ascertained misdeeds revealed by various fact-finding panels and probes in the extractive industry.”

President Jonathan also disclosed that he had given necessary directives to all Ministries, Agencies and Departments of government and all companies covered by NEITI activities that NEITI should be given “open and unrestricted support” to carry out its statutory functions in view of the strategic importance of the role of NEITI to the transformation agenda.”

Also speaking at the workshop, the Executive Secretary of NEITI, Mrs. Zainab Ahmed disclosed that NEITI’s latest industry audit reports in the oil and gas sector that covered the period 2009 to 2011 and the first NEITI audit report in the solid minerals, which covered 2007 to 2010 would be released to the public simultaneously before the end of the year.

Chairman of NEITI Board, Ledum Mitee, said NEITI would henceforth fully exercise its power under Section 3(f) of the NEITI Act that requires it to monitor and ensure that all payments due to the Federal Government from all extractive industry companies, including taxes, royalties, dividends, bonuses, penalties, levies and such like, are duly made.

He added: “For example, previous NEITI audit reports have identified potential revenue loss due to under-assessments/underpayments by covered entities amounting to over $9.8 billion or N1.3 trillion by the existing exchange rate.

“NEITI can no longer sit down and watch and allow these recoverable funds in the hands of the companies at a time the Federal Government is searching for funds to finance the deficits in the annual budgets.”

He read the riot act to defaulters, saying no entity would be spared the full weight of the law in case of defaults.

He said that the body would “invoke relevant sanctions under Section 16 of the NEITI against any company found to have rendered false information or failed to provide statements of accounts as at and when due to NEITI Industry Auditors especially in the reported cases where this resulted in under-payments and under-assessments and huge revenue loss to the Federation Account.”

Mitee stated that the relevant statutory sanctions should be invoked against relevant government agencies identified to have willingly frustrated the implementation of remedial issues in NEITI audit reports over the years.

Mitee sought the collaboration of anti-corruption agencies in the renewed bid at ensuring complying with the provisions of the law and enthronement of accountability and transparency in the nation’s oil and gas sector.

Ngwakwe: I thought the FG initiated the Audit and not Sanusi Lamido.

are u missing the point? What if sanusi had kept mute abt the matter, wld this have happened.


See, i wanted to vote jonathan out just for one thing: his negligence and lack of balls.

it is not enuff for these reports and others to be sitted upon, but we want real actions!

What pained me most is the negligence on ribadu's report on the subsidy thieves. A committee was set up to look into the report and the report was discarded!

Imagine!

Now, if Jonathan wld pls face corruption and allowed justice to take its course even on the many mistresses in his cabinet as ministers, i will very happy to vote him in till 2032 if necessary.

He seems a good man but lack balls to act as the president!

Rereads my submission, moreover, this year audit was ongoing when Sanusi Lamido submitted his letter to the President.

SLIDE waxie: are u missing the point? What if sanusi had kept mute abt the matter, wld this have happened.


See, i wanted to vote jonathan out just for one thing: his negligence and lack of balls.

Just hoping the COMMITEE will not be like other COMMITEES....

The Imposter @'ndu-chuks' LYING tru his azzz again? What is d link bw d NEITI Audit Report implementation and d sillly Sanusi 'letter'? Do you even know what constitute d bulk of d monies that NEITI want remitted/paid to d FG ie who are d main 'debtors'? And do you know d time period the NEITI reports audited?.... Guy, go rear cattle or smtin joor if you are too bored this clear Saturday morning

Ngwakwe: I thought the FG initiated the Audit and not Sanusi Lamido.

Moreover, this is not the first and wouldn't be the last.

Below is November, 2012 commission.

sir are you immune to comprehension or what??

Coolboi05: sir are you immune to comprehension or what??

lol... You shld be asking yrself that question not him, 'Sir'

What is this one saying?

Are you blind to seeing the Op hypocrisy in alluding Sanusi's letter to the President necessitated the move by FG to setup this committee?

Ndu_chucks was trying to deny FG the praise it deserve.

Coolboi05: sir are you immune to comprehension or what??

Ngwakwe: I thought the FG initiated the Audit and not Sanusi Lamido.

Moreover, this is not the first and wouldn't be the last.

Below is November, 2012 commission.

You are beginning to sound like a dummie though I think you are simply pretending to be daft. Why must the government form a committee every year to do what should be done routinely? You missed the point that unremmited funds uncovered by previous audit findings remain unremitted even after the audit findings. This committee was not set up to perform any audit but to recover unremitted funds including the one uncovered by Sanusi.

The Feds know that after Sanusi's public exposé and yansh opening, they have to act, hence the formation of this committee. Get with the program and hope that the committee suceeeds.

taharqa:
Do you even know what constitute d bulk of d monies that NEITI want remitted/paid to d FG ie who are d main 'debtors'? And do you know d time period the NEITI reports audited?.... Guy, go rear cattle or smtin joor if you are too bored this clear Saturday morning

I am not one of those you can confuse by pretending to be well informed, when you are simply a low level jobber. This is not about debt collection by NEITT, mumu. The committee was set up and will consist of inter-ministerial task teams for the recovery of[b] all outstanding revenues [/b] due to the Federal Government from audit findings.

You should wish the team success. Your granstanding here is useless.

Ngwakwe: What is this one saying?

Are you blind to seeing the Op hypocrisy in alluding Sanusi's letter to the President necessitated the move by FG to setup this committee?

Ndu_chucks was trying to deny FG the praise it deserve.

You keep trying hard to show that you are a dummie, but I'm not yet ready to accept that, I think you are just a pretender. Pray tell, why weren't task forces or committees set up to recover unremitted funds uncovered during audits in the past 4 year! If you believe that the timing of this committee's formation is unrelated to Sanusi's letter, then you may very well be a dummy.

Why glorify Sanusi's inexperience instead of outright condemnation.

Don't even try to debate out your ethnocentric ignorance. Tell SLS that his apology was rejected by Nigerians.

You are not ashamed that your CBN Governor is invoking unsubstantiated figures to score political points thereby exposing his limitations.

Mallam Sanusi Lamido political letter was just showcasing why quota system should be totally abolished.

ndu_chucks:

You are beginning to sound like a dummie though I think you are simply pretending to be daft. Why must the government form a committee every year to do what should be done routinely? You missed the point that unremmited funds uncovered by previous audit findings remain unremitted even after the audit findings. This committee was not set up to perform any audit but to recover unremitted funds including the one uncovered by Sanusi.

The feds know that after Sanusi's public exposé and yansh opening, they have to act, hence the formation of this committee. Get with the program and hope that the committee suceeeds.

Ngwakwe: Don't even try to debate out your ethnocentric ignorance. Tell SLS that his apology was rejected by Nigerians.

You are not ashamed that your CBN Governor is invoking unsubstantiated figures to score political points thereby exposing his limitations.

Mallam Sanusi Lamido political letter was just showcasing why quota system should be totally abolished.

You shameless jobbers keep trying to shift the focus of threads to useless issues. Keep it up, readers see through your antics.

For me, the bottom line is that, the unconscionable level of unremitted funds to the Federal Government and the underlying corrupt and possible fraud involved, has been exposed by Sanusi. Even Iweala confirms that NNPC alone has at least $10BILLION unremitted!!! These facts cannot be changed no matter how hard you try to introduce tribalism into the matter. Many fools do not understand that the thieves hail for the North, South, East, and West.

We must demand accountability from all government agencies and we now know that GEJ's way of dealing with this problem is to form another committee or task force. We know how successful his task forces and committees have been in the past. SMH

ndu_chucks:

You are beginning to sound like a dummie though I think you are simply pretending to be daft. Why must the government form a committee every year to do what should be done routinely? You missed the point that unremmited funds uncovered by previous audit findings remain unremitted even after the audit findings. This committee was not set up to perform any audit but to recover unremitted funds including the one uncovered by Sanusi.

The Feds know that after Sanusi's public exposé and yansh opening, they have to act, hence the formation of this committee. Get with the program and hope that the committee suceeeds.





I am not one of those you can confuse by pretending to be well informed, when you are simply a low level jobber. This is not about debt collection by NEITT, mumu. The committee was set up and will consist of inter-ministerial task teams for the recovery of[b] all outstanding revenues [/b] due to the Federal Government from audit findings.

You should wish the team success. Your granstanding here is useless.

Mr. Chucks,

You are simply pathetic. No wonder you wanted dilapidated Nigeria by all means necessary. The audit you referenced in your deceptive post was not as a result of Sanusi Lamido Sanusi's idiotic letter but among government's procedures of governance.

taharqa: The Imposter @'ndu-chuks' LYING tru his azzz again? What is d link bw d NEITI Audit Report implementation and d sillly Sanusi 'letter'? Do you even know what constitute d bulk of d monies that NEITI want remitted/paid to d FG ie who are d main 'debtors'? And do you know d time period the NEITI reports audited?.... Guy, go rear cattle or smtin joor if you are too bored this clear Saturday morning

Bros do not make it easy for the truant. He needs village hoe to till the ground.

DerideGull:


Mr. Chucks,

You are simply pathetic. No wonder you wanted dilapidated Nigeria by all means necessary. The audit you referenced in your deceptive post was not as a result of Sanusi Lamido Sanusi's idiotic letter but among government's procedures of governance.

Mr. Gull, you are absolutely correct that the audit I referenced wa not as a result of Sanusi's letter. What I am saying is that Sanusi's letter contributed in a major way to the formation of a special commitee/task force charged with recovering the unremitted funds. Here is Vanguard newspapers headline to the same story: Missing oil revenue: FG beams searchlight on oil and gas sector I submit to you that, if this committee does its job, it will recover the $10 - 15billion exposed by Sanusi as well.

Get your facts straight. It appears as if fowl yansh don open.

Stop embarrassing yourself in a bid to ascribe non existing praise or accolade to SLS.

Sanusi Lamido has been put through the accounts process of which he has been convinced by the experts before Senate committee on Finance that there is no unremitted fund rather yet to be reconciled account amounting to $10.8 Billion.

For your information the FG through Petroleum Ministry has done the needful by auditing NNPC just this last quarter of 2013.

ndu_chucks:

You shameless jobbers keep trying to shift the focus of threads to useless issues. Keep it up, readers see through your antics.

For me, the bottom line is that, the unconscionable level of unremitted funds to the Federal Government and the underlying corrupt and possible fraud involved, has been exposed by Sanusi. Even Iweala confirms that NNPC alone has at least $10BILLION unremitted!!! These facts cannot be changed no matter how hard you try to introduce tribalism into the matter. Many fools do not understand that the thieves hail for the North, South, East, and West.

We must demand accountability from all government agencies and we now know that GEJ's way of dealing with this problem is to form another committee or task force. We know how successful his task forces and committees have been in the past. SMH

Ngwakwe: Stop embarrassing yourself in a bid to ascribe non existing praise or accolade to SLS.

Sanusi Lamido has been put through the accounts process of which he has been convinced by the experts before Senate committee on Finance that there is no unremitted fund rather yet to be reconciled account amounting to $10.8 Billion.

For your information the FG through Petroleum Ministry has done the needful by auditing NNPC just this last quarter of 2013.

Focus on the massive theft of unremitted funds including the said $10.8billion. ALL Monies due must be remitted. Stop obsessing about Sanusi.

wen d recovery is done wot will happen 2 d it? is just a case collecting frm some thieves 2 give 2 another thieves.

I don't have any problem with the process rather the title of this thread.

Just remove that "Thanks to Sanusi".

ndu_chucks:

Focus on the massive theft of unremitted funds including the said $10.8billion. ALL Monies due must be remitted. Stop obsessing about Sanusi.

@ndu_chucks.

See how you dey vex but wetin concern aboki with oil money?

You should be checking the price of groundnut your foreign exchange earner come 2019.

ndu_chucks:

Mr. Gull, you are absolutely correct that the audit I referenced wa not as a result of Sanusi's letter. What I am saying is that Sanusi's letter contributed in a major way to the formation of a special commitee/task force charged with recovering the unremitted funds. Here is Vanguard newspapers headline to the same story: Missing oil revenue: FG beams searchlight on oil and gas sector I submit to you that, if this committee does its job, it will recover the $10 - 15billion exposed by Sanusi as well.

Get your facts straight. It appears as if fowl yansh don open.

You are correct about the committee doing its job well however it will fetch Nigeria another apology from Sanusi Lamido Sanusi. I guess one good turn deserves another.

Ngwakwe: I don't have any problem you with process rather the title of this thread.

Just remove that "Thanks to Sanusi".

Ngwanu, I removed sanusi from the title but I still believe that this committee would not have been put in place had Sanusi not written the letter. We all should be up in arms against these thieves. It saddens me that we allow petty tribalism to get in the way.

Shine It: @ndu_chucks.

See how you dey vex but wetin concern aboki with oil money?

You should be checking the price of groundnut your foreign exchange earner come 2019.

Flee, flea.

ndu_chucks:

Ngwanu, I removed sanusi from the title but I still believe that this committee would not have been put in place had Sanusi not written the letter. We all should be up in arms against these thieves. It saddens me that we allow petty tribalism to get in the way.

It is good to see you put on a thinking cap as you have changed the caption of the thread. Please apply this rare wisdom in other discussions bordering on goodness of the inhabitants of the geographical expression known as Nigeria.

DerideGull:


It is good to see you put on a thinking cap as you have changed the caption of the thread. Please apply this rare wisdom in other discussions bordering on goodness of the inhabitants of the geographical expression known as Nigeria.

Mr. Gull, You of all people should know that I am not a thoughtless NLer who has been consumed by bigotry to the extent of allowing the bigotry to becloud his better judgement.

That said, I fully understand why people like you stand behind GEJ even at the expense of allowing some thieves to go free. GEJ has become your best hope of dismantling what you shamelessly call a 'cesspit'.

@'Ndu-chuks', Shame no dey catch you?? Hv you reali got no Shame?

taharqa: @'Ndu-chuks', Shame no dey catch you?? Hv you reali got no Shame?

You should ask yourself that question. Despite your denials, all of NL knows of your activities as a jobber on this site. People are smarter than you give them credit for, na you shame suppose to catch.

Good. That is what Nigerians are yearning for, war against corruption. Keep it up, GEJ.

I am often amused by the high level of ignorance displayed. It is tantamount to saying that the current CBN governor (SLS) was the one who initiated the policy to set up (establish) the Asset Management Corporation of Nigeria (AMCON) to bail out the distressed banks.

However, I am not too surprised because the Heads of these MDAs act as demi-gods in their respective positions, hence ignorant people are quick to accord them undue praise and accolades.

Well the ignorance continues...........

.

das good