Where Is Our Money-?

We all remember what happened last year when CBN governor alleged NNPC and FG of non-remittace of petroleum sales.

Minister of finance admitted, after all arguments, counter-arguments, reconciliation , etc that $10.8 was unaccounted for. The CBN governor said it was $20b.

The question is whether $20b or $10.8b, where is the money?

In February 2014, PWC was called to do independent audit and since then we have not seen or heard any thing on the sum.

As a qualified accountant, you don't need more than a week or two to audit an account but let us assume the volume is much, one month should be enough. The audit has taken more than 6 months now.
Where is our money ?

Where is our$10.8b according to minister of Finance ?

Where is $20b according to CBN governor?

freezone4real:
Where Is Our Money-?

We all remember what happened last year when CBN governor alleged NNPC and FG of non-remittace of petroleum sales.

Minister of finance admitted, after all arguments, counter-arguments, reconciliation , etc that $10.8 was unaccounted for. The CBN governor said it was $20b.

The question is whether $20b or $10.8b, where is the money?

In February 2014, PWC was called to do independent audit and since then we have not seen or heard any thing on the sum.

As a qualified accountant, you don't need more than a week or two to audit an account but let us assume the volume is much, one month should be enough. The audit has taken more than 6 months now.
Where is our money ?

Where is our$10.8b according to minister of Finance ?

Where is $20b according to CBN governor?

. I thought you are even talking about the 1000 they collected from innocent jobless youth for NIS

According to him, between January 2012 and July 2013, NNPC lifted $65 billion worth of crude oil and only remitted $15 billion into the federation account. This implied that about $50 billion was missing from the federation account.

I have been wanting to talk about this thanks for bringing it up
Investigative hearing on December 18, 2013 brought to you by Senator Olubunmi Adetumbi (Ekiti North) during which he drew
Senate’s attention to a newspaper report
on the alleged missing funds. The latter mandate followed a motion by Senator Babajide Omoworare (Osun East).

During the highly anticipated new report to substantiate his claims Sanusi, who is now the Emir of Kano, the eloquent former CBN governor in a quiet tone devoid of his usual confidence, said that it was actually $12 billion that was missing and no longer $49.8 billion as he earlier claimed.

Co-ordinating Minister for the Economy and Minister of Finance, Dr. Ngozi Okonjo-Iweala, interrupted him, saying Sanusi’s claim of missing $12 billion was also false, disclosing that it was actually $10.8 billion that was yet to be reconciled inter agencies. He therefore, urged the committee to suspend the hearing to enable him and other stakeholders continue with ongoing reconciliation efforts at the time.

When they got back basically they found out that Sanusi Lied. That much was said in the Markafi Committee report.

On the alleged unremitted $20 billion, the committee however, said it found that the sum of $218 million considered as federation account share of the third party financing was still in dispute and therefore should be remitted by NNPC.
It also noted that another sum of $447.8 million which it described as the federation account share from the $6.815 billion liftings by NNPC on behalf of NPDC remained in dispute.

Also in dispute according to the report is $262 million which the committee described as expenses incurred by the NNPC in respect of holding strategic reserve pipeline maintenance and management cost/capital expenditure.
The committee therefore asked the corporation to refund this sum of money into the federation account, saying NNPC could not satisfactorily defend it even though it acknowledged that the sum is still very much in dispute by the corporation.

freezone4real:
Where Is Our Money-?

We all remember what happened last year when CBN governor alleged NNPC and FG of non-remittace of petroleum sales.

Minister of finance admitted, after all arguments, counter-arguments, reconciliation , etc that $10.8 was unaccounted for. The CBN governor said it was $20b.

The question is whether $20b or $10.8b, where is the money?

In February 2014, PWC was called to do independent audit and since then we have not seen or heard any thing on the sum.

As a qualified accountant, you don't need more than a week or two to audit an account but let us assume the volume is much, one month should be enough. The audit has taken more than 6 months now.
Where is our money ?

Where is our$10.8b according to minister of Finance ?

Where is $20b according to CBN governor?

I admire ur courage, u are a strong woman. Can u pls ff me back

Actually the op is a male masqurading as female or you are a gay.

chamboy:
I admire ur courage, u are a strong woman. Can u pls ff me back

It is pathetic thatnwenhave not seen solution to this problem.

Is Jonathan and his cabinet saying no money is missing?

Its a shame they are talking about the economy while they dont care about our missing money

freezone4real:
Where Is Our Money-?

We all remember what happened last year when CBN governor alleged NNPC and FG of non-remittace of petroleum sales.

Minister of finance admitted, after all arguments, counter-arguments, reconciliation , etc that $10.8 was unaccounted for. The CBN governor said it was $20b.

The question is whether $20b or $10.8b, where is the money?

In February 2014, PWC was called to do independent audit and since then we have not seen or heard any thing on the sum.

As a qualified accountant, you don't need more than a week or two to audit an account but let us assume the volume is much, one month should be enough. The audit has taken more than 6 months now.
Where is our money ?

Where is our$10.8b according to minister of Finance ?

Where is $20b according to CBN governor?

One or two weeks for an audit?? You're kidding right? Yup it takes months to audit, large companies anyway. And you do reaise it's the public sector we're talking about.

Anyway, I still share in your sentiments. Where is our money!