This woman think she can pull wool over our eyes. See the way they're extending the audit just to buy time. And then the report will be submitted to the same people who benefited from the loot. Now Gej says stealing public money is not corruption i.e he doesn't give a damn about it. Anyone thinking this audit will see the culprits behind the bar is daydreaming. Ha, Nigeria!

The Ebola success story is gain achieved more so by the over hyping of the media.

For those who are sincerely confused about the figures, let me explain

- $49 billion [/b]is the total amount in 3 years that should have been remitted by the NNPC after selling crude.
- After denial, the NNPC said that if you deduct the amount they spent in expenses, running cost, input to the budget, payments of subsidies, transportation of crude to export, some money it remitted and other expenses, that it is [b]$10.8 billion that is not accounted for.
- Sanusi during the effort to reconcile the account books, stated that President Yar'Adua in 3 occasions directly that subsidy for Kerozine be stop. So if you all the illegal Kerosene subsidies NNPC paid to their friends, it will total $20 billion that was not remitted.

It is important to note that there is no law authorizing NNPC to spend the money the made on sales of Petroleum Products. They ought to remit it to the Federation Account.

So why was it not remitted? Because it allows the President the monopoly to spend the money. But once it gets to Federation Account, a vote and consent of the National Executive Council will be needed before money can be withdrawn and spent.

When will this missing stop sef

Dem don audit am so tey everything don counter balance. Naija magogo wururu.

Doctored Audit report of missing NNPC $10.8b ready soon, says Okonjo-Iweala

egift:
For those who are sincerely confused about the figures, let me explain

- $49 billion [/b]is the total amount in 3 years that should have been remitted by the NNPC after selling crude.
- After denial, the NNPC said that if you deduct the amount they spent in expenses, running cost, input to the budget, payments of subsidies, transportation of crude to export, some money it remitted and other expenses, that it is [b]$10.8 billion that is not accounted for.
- Sanusi during the effort to reconcile the account books, stated that President Yar'Adua in 3 occasions directly that subsidy for Kerozine be stop. So if you all the illegal Kerosene subsidies NNPC paid to their friends, it will total $20 billion that was not remitted.

It is important to note that there is no law authorizing NNPC to spend the money the made on sales of Petroleum Products. They ought to remit it to the Federation Account.

So why was it not remitted? Because it allows the President the monopoly to spend the money. But once it gets to Federation Account, a vote and consent of the National Executive Council will be needed before money can be withdrawn and spent.

^^^^^THIS^^^^^^

phaat:
Audit report of missing NNPC $10.8b ready soon, says Okonjo-Iweala



•Seeks tracking of campaign funding

By Kingsley Ighomwenghian, Deputy Editor

 

Nearly 10 months after exposure by then Governor of the Central Bank of Nigeria (CBN), Lamido Sanusi, that $20 billion was lying with the Nigerian National Petroleum Corporation (NNPC) unremitted to the Federation Account, Minister of Finance, Ngozi Okonjo-Iweala, has assured that an audit report into the oil money will be out soon.

According to the minister, “initially it was $48 billion, then $20 billion, but the figure we have always had is $10.8 billion.

“I am Minister of Finance, if money is missing … I want to use it for good things for the country, and that was why when we went to the Senate we demanded for forensic audit, the President supported it and asked for it to be done.

Speaking at the Financial Times Africa Summit 2014 in London on Monday, Okonjo-Iweala who is also Coordinating Minister for the Economy, reiterated that the amount is not new and that it had been a source of discussions between the Ministry of Finance and its the Petroleum Resources counterpart.

The huge attention the issue generated, she said, led to the appointment of the firm of PriceWaterHouseCoopers by the Federal Government to undertake a forensic audit.

“We engaged PwC with the Auditor General taking the lead. They initially asked for 16 weeks to complete the work, they have spent 11 or 12 weeks so far and they will be done in a couple of weeks”.

Meanwhile, in the build up to the 2015 general elections, Okonjo-Iweala wants Nigerians to show more interest in the ‘how and who funds’ campaigns to various electoral offices in the country.

“We all want democracy, but how do you get it? It involves money.

“If you want accountability and good governance you must discuss issues relating to campaign funds.

“People who sponsor campaigns believe they must get something from the government when elections are won. These are the real elephant in the room and we need to deal with it,” she said.

The issue of campaign funding has been of huge interest, particularly with the activities of Transformation Ambassadors of Nigeria (TAN), which has been organising zonal rallies across the country to drum up support for re-election of President Goodluck Jonathan.

TAN is believed to be sponsored by some moneybags, including friends believed to have benefitted hugely from the administration.

Such rallies are usually attended by top government functionaries led by Secretary to Government of the Federation, Pius Ayim Pius, serving Ministers and Governors eulogising the activities of the administration.

Also speaking on the killer Ebola virus disease (EVD) at the summit, the minister said Nigeria ought to be commended for ensuring the index case did not take the illness out of the country in addition to containing it.

“Nigeria did a great service by stopping (Patrick) Sawyer who was Minnesota bound. Ebola cannot be said to be the real elephant in the room, as it has been hyped beyond proportion by the media,” Okonjo-Iweala said.

Aunty Ngo, i want to know whether We have another branch of C.N.B in south africa? Abi na audithief una wan do too?

[color=#000099][/color] story for the God... iweala .Jonathan

Robbers dey catch robbers?

Money wey no miss we dem dey find ........

Shey money get leg wey he go use waka commot insyd bank account

Okonla or woteva she calls her name ...... she is very aware dah der is ntn

Missing, dem jus dey lie for demselves ..... Dis pple

I dey pray say mak dem kind of money go enter my Bank Account lasan

O boy! I don hammer .... Na thru ATM i go use collect all the money finish

Na one Night i go use collect all the money finish.

#PrayingTinz

How could such amount of money got missing in the first place?
Only happens in Third World nations.
Democracy without accountability is a scam.

Election around d corner!, Gej putting house in order, BTW, Madam dont think u Guy can got away if u influence the Audit report to ur favour, we are watching, we are not ready to listen to those garbage u put up there!>


#teamsayNO2audit manipulation result!

I tire for dz country

Nigeria: No money is missing but we are looking for the "missing" money.

phaat:
According to the minister, “initially it was $48 billion, then $20 billion, but the figure we have always had is $10.8 billion.

Oh, so $10.8 billion was actually missing? Our leaders, una weldone o!

“We engaged PwC with the Auditor General
taking the lead" Auditor General of the federation is working hand in hand with the Accountant General nah! He's not suppose to be part of the forensic auditing team. PWC is suppose to be independent, free from any form of interference and should be provided with the needed document to carry out their job. Nigerians ain't getting noting out of this shit, trust me.

SafetyFirst:
The Good boy and the oil goddess.

























































































Milking Nigeria dry since 2010.

Dude use ur skull please and stop wasting space on stupid commmments.

phaat:
Audit report of missing NNPC $10.8b ready soon, says Okonjo-Iweala



•Seeks tracking of campaign funding

By Kingsley Ighomwenghian, Deputy Editor

 

Nearly 10 months after exposure by then Governor of the Central Bank of Nigeria (CBN), Lamido Sanusi, that $20 billion was lying with the Nigerian National Petroleum Corporation (NNPC) unremitted to the Federation Account, Minister of Finance, Ngozi Okonjo-Iweala, has assured that an audit report into the oil money will be out soon.

According to the minister, “initially it was $48 billion, then $20 billion, but the figure we have always had is $10.8 billion.

“I am Minister of Finance, if money is missing … I want to use it for good things for the country, and that was why when we went to the Senate we demanded for forensic audit, the President supported it and asked for it to be done.

Speaking at the Financial Times Africa Summit 2014 in London on Monday, Okonjo-Iweala who is also Coordinating Minister for the Economy, reiterated that the amount is not new and that it had been a source of discussions between the Ministry of Finance and its the Petroleum Resources counterpart.

The huge attention the issue generated, she said, led to the appointment of the firm of PriceWaterHouseCoopers by the Federal Government to undertake a forensic audit.

“We engaged PwC with the Auditor General taking the lead. They initially asked for 16 weeks to complete the work, they have spent 11 or 12 weeks so far and they will be done in a couple of weeks”.

Meanwhile, in the build up to the 2015 general elections, Okonjo-Iweala wants Nigerians to show more interest in the ‘how and who funds’ campaigns to various electoral offices in the country.

“We all want democracy, but how do you get it? It involves money.

“If you want accountability and good governance you must discuss issues relating to campaign funds.

“People who sponsor campaigns believe they must get something from the government when elections are won. These are the real elephant in the room and we need to deal with it,” she said.

The issue of campaign funding has been of huge interest, particularly with the activities of Transformation Ambassadors of Nigeria (TAN), which has been organising zonal rallies across the country to drum up support for re-election of President Goodluck Jonathan.

TAN is believed to be sponsored by some moneybags, including friends believed to have benefitted hugely from the administration.

Such rallies are usually attended by top government functionaries led by Secretary to Government of the Federation, Pius Ayim Pius, serving Ministers and Governors eulogising the activities of the administration.

Also speaking on the killer Ebola virus disease (EVD) at the summit, the minister said Nigeria ought to be commended for ensuring the index case did not take the illness out of the country in addition to containing it.

“Nigeria did a great service by stopping (Patrick) Sawyer who was Minnesota bound. Ebola cannot be said to be the real elephant in the room, as it has been hyped beyond proportion by the media,” Okonjo-Iweala said.

soupid beach! You're the fattest most ugly woman in the room.. Die biitch!

AMEN!

The tallest building in the world, Burj Khalifa in Dubai was built with around $1.5billion within five years. $10.8billion is allegedly missing from a govt agency and nobody is loosing any sleep.
The govt also claimed to have spent over $16billion on power in the last 6 years but I still can't see the light.
My question is, are we cursed with non-achievement as a nation or what?

I fear GEJ and PDP. I can bet my last kobo they were the ones who leaked about the missing funds. In a few days, they'll probably give detailed account of the money the way it was spent, in full report. Election is around the corner and good things are happening. First it was South Africa claiming that the money they confiscated was legit and now this. Soon, patience go dey speak good English!

Forget the report! there are many reports in Nigeria
Where is the $10.8billion? has it been found?
That is what we want to know.

Almost a full year on, the Jonathan Govt still cooking report!

Its about time, Please see these mumus they think all Nigeria are ignorant, let the heat goes down..They started to cook the books....come out with bomb shell no money is missing. We heard it all before ....Thief.. Barawo, Ole, Jaguda, Oyin oshi International thief thief.......As remark goes GEJ till 2019 infinity and beyond.

Make the lies ready ASAP!

As if we don't know what the result will be. Spare that to those who don't know this administration.

Nigerians are a sorry case. This thread here, they start seing the realities on ground about their hopeless third-world slum, another thread they turn awkward narcissisists and began to jyrate, praising, saying how Nigeria is great, so great that America and the Western world envy it. This is the situation on nairaland.

She's telling the truth, that's where I work and all hands are on deck

We knew no need for the Auditing ,it was used for TAN RALLIES AND OTHER 2015 ELECTION THINGS

VenusBetty:
She's telling the truth, that's where I work and all hands are on deck

To produce another gramer, abracatabra what FELA called GOVERNMENT MAGIC

mashodehammer:

To produce another gramer, abracatabra what FELA called GOVERNMENT MAGIC

just believe this man, for once. He's trying