I Know most people won't have the time to read the lengthy report so I have summarized it

The report of forensic audit of NNPC was released to the public yesterday in accordance with President Goodluck Jonathan's directive. Here are some major points as revealed by the report.

1. $ 980 million was over charged as subsidies on Petrol and Kerosene between January 2012 and July 2013.

2. $3.38bn was spent on kerosene subsidy for the review period.

3. A total sum of $ 13, 637, 077, 362 from sale of domestic crude was not remitted.

4. The following cannot be substantiated due to lack of supporting documents:

i. $ 0.25 billion claimed as NPA charges

ii. $ 59, 324, 737.01 spent on charter Hire services

iii. $ 6, 658, 588.74 of the $ 17, 767, 683.54 claimed as management fee of MT Tuma and MT Oloibiri.

iv. $ 5, 457, 006.98 of the $ 46, 265, 215.13 claimed as crude transport payment.

v. $ 6, 707, 826.05 on marine through put.

vi. $ 11, 896, 654.71 claimed as repair cost on pipeline vandalism.

vii. Management charge out rate claim of $ 59, 712, 530.83

5. The following funds cannot be substantiated due to insufficient supporting documents.

i. $ 10, 257, 161.07 claimed as enviromental remediation.

ii. A capital expenditure of $ 27, 179. 005.48

6. A total sum of $ 305, 885, 083.77 cannot be verified due to exceptions.

7. Both CBN and NPDC did not grant the audit firm access to nor give the requested information to the firm.

Source: http://thesummary.com.ng/index.php/component/k2/item/551-what-forensic-audit-report-of-nnpc-revealed

I don't know why we are yet to see the core tanoids online to defend this. By now, they shld know how blind they ve been.

midolian:
I don't know why we are yet to see the core tanoids online to defend this.

The have run away, trying to see if it will die down. We will never allow this fraud to die down till justice is done

The most cringe inducing part of the so called report is the PWC disclaimer ; "no supporting documents" that runs through the whole thing.

Even olivia pope can't fix this.

We hope GMB will take all necessary action to recover all the monies that could not be accounted for and prosecute all the people involved in the scam.

midolian:
I don't know why we are yet to see the core tanoids online to defend this.

1.They are angry nah,wouldn't you be if you were in their shoes . These guys receive N100 per post and have now belatedly discovered that they were grossly underpaid.
Its enough reason to RESIGN

2.They are studying the situation and will come up with their response in due course.

On a more serious note though, what's there to defend? Acceptable excuses?.."Its the work of the devil" or "it wasn't me"?




Still waiting for the Barcanista to come up with one of his self serving/attention seeking threads, he has no excuse now, he got his much needed "security" so story.

Oga Joe, why now?

Anyways, The general shall comb the place.

Sai Buhari

SLIDEwaxie:
That attention seeking whoore -barcanista will not show up now with his average skills in calculation to come cover the mess.

why are you so harsh on PDP supporters?

midolian:
I don't know why we are yet to see the core tanoids online to defend this. By now, they shld know how blind they ve been.

They are busy trying to cover it up by overblowning Buhari vs AIT issue out of proportion.

jchima14:


why are you so harsh on PDP supporters?

because it worries me that some minorities who feed from the crumbs of the PDP will want to force their vapid and insipid achievements that were in fact primitive (like the locomotive trains), and ideas that are useless (like the national confab). All carefully wrapped and packaged by sycophants (like barcanister), hoping that we all wake up one day as senseless (as mogidi), and accept all their lies so lies like saTANoids.


But come to think of it, is it not foolish for us as youths who have seen the 16yrs of futile rule of this party, and still not want a change.

Now, we are not sure the change will work, but the only people who failed are those who never tried. So, make we try this one...they have four yrs to prove their competence.

Thanks for the summary. Lalasticlala, ishilove.

ii. $ 59, 324, 737.01 spent on charter Hire
services
Please which type of charter hire services is this that gulped $59m or there about
. So if properly documented it could exceed $59m
Hahahah money don enta voicemail

ii. $ 59, 324, 737.01 spent on charter Hire services

I can't believe it.

Alphaoscar:

They are busy trying to cover it up by overblowning Buhari vs AIT issue out of proportion.

Exactly. I was expecting the press statement released by Olisah Metuh to be on this. But they were busy fighting for AIT.

They don finish Nigeria

Hmmmmmm

King Sanusi was Right after all ..

Buhari is going to Probe it. Why in a hurry to release the statements?

I don't support the fact that anti-corruption would kick off from Goodluck Jonathan's administration.... If buhari isn't ready to trace it back from 1978,then he should forget it & start the fight against corruption from 2015 period.

Some of the figures mentioned here are quite high.

Let the probing and real audit exercise begin.

See figures ooo

When will Nigeria recover from this??

I'm optimistic tho

Op, thanks for the summary.

wwe

Yawns

This is just the beginning. 29th may never reach oooh. Hehehe I thought dey told us this case has been closed?

Gosh everything in dollar currency


[size=98pt]$ = ₦ [/size]

Well well well...looks like HRH the Emir of Kano was right after all.

Something was wrong in the NNPC.

I guess apologies are in order.

Sanusi wasn't far from the truth afterall!

So Jonathan sat on this excessive impunity and humongous looting of our commonwealth? The foundation of the hell some Nigerians should be sent is just being dug by the hell crew. Eleyi ti poju oooo.

See our money,
*burst into tears*