By Michael Eboh
The Federal Government, on Monday, explained that its delay in moving against the Nigerian National Petroleum Corporation, NNPC, was because it is trying to establish the magnitude of fraud and inefficiencies the corporation, and the nation’s oil and gas industry was fraught with over the last couple of years.
Speaking in an interview on the Nigerian Television Authority’s, NTA, ‘Good Morning Nigeria,’ programme, President Muhammadu Buhari disclosed that the government is already working with some individuals that are helping it to track the destination of stolen crude oil and the accounts the proceeds are paid into.

President Muhammadu Buhari
 
He said, “Frankly, I read the stories too that I intend to break up the NNPC. I think the best way to go about it is to establish the fact of the magnitude of the inefficient ways the NNPC conducted itself. When we do that we will be on a higher moral ground to carry out whatever recommendations that have been made to us.”
He maintained that the NNPC has lost track of the number of accounts belonging to it, adding that the government is discreetly working with some Nigerians to ensure that perpetrators of fraud in the oil and gas sector are brought to book.
“We have to maintain high confidentiality so that we do not put at risk, some of the Nigerians that are helping us to trace some of the destination of this stolen crude and then the account where they are being paid into instead of the federal government account.
“I do not think the NNPC knows how many accounts are outside there, which payments are being made for Nigerian crude which is really an outright theft. The money we want to intercept which have been going on for a number of years, a lot of Nigerians will not comprehend,” he explained.
Buhari lamented the fact that the crude oil swap programme has over the years been used to defraud the country, stating also that a number of operators in the oil and gas industry have displayed lack of conscience and love for the country.
He said, “These individuals have refineries all over the world. The swapping, is tied into a major killing ground for corrupt officials with an average evil to loot the country’s crude, work out how much they can bring back to us and we pay for the transportation and for the refining.
The swapping programme is such a dishonest way in which Nigeria is consistently losing on daily basis, millions of dollars. I think the people who have been operating in the industry, a lot of them have displayed lack of conscience and patriotism, and only God knows the amount of damage their actions have inflicted on Nigeria.”
Expressing optimism that the United States and other European countries are willing to cooperate with Nigeria in repatriating funds that are proceeds of corruption and stolen crude, the President however, stated that the Federal Government is working to ensure that it complies with the laws of these countries and provide them with the needed documents that will help expedite the repatriation.
He said, “These countries are willing. I have also said that we have to comply with their system; that we have to get the document, especially the shipping documents, how we load from our terminals, their destinations. It is important to note that some of them change the crude and the destinations in the high seas and then change the account it needs to be paid into. Instead of the Federal Government account, they are paid into individual accounts.
“The cooperation we need is that once we get hold of the shipping documents and we are lucky to trace them out to the countries where they sold the crude and which account it goes into and we submit the evidence in terms of loading, in terms of payments being in accounts other than the Federal Government account.
“Once we do that, we are very willing to make sure that those accounts are frozen and the money repatriated to Nigeria. It is not an easy process, but I assure you that we are working very hard. We cannot say that we wait until everything is intact before we let you know. Whichever we are able to get in the following months or a couple of months, we will bring it out for Nigerians to know, with facts in our hands and prosecution started for those who perpetrated the unpatriotic action against Nigeria for so many years.”

http://www.vanguardngr.com/2015/07/why-were-yet-to-move-against-nnpc-buhari/

k

That one na their problem

I understand Buhari's predicament. After several years of drinking cow milk as a cattle herder he now reason as cow. The cow brain president of the zoo is a reproach to his generation.

worthytalk:
I understand Buhari's predicament. After several years of drinking cow milk as a cattle herder he now reason as cow. The cow brain president of the zoo is a reproach to his generation.

Worthless talk from a worthless slowpoke!

We are waiting for the outcome of your investigations

All these people calling on Buhari to act fast that even fayose of pdp is asking Buhari to probe, I just hope by the time baba starts hauling people left and right into jail these same people won't come and start crying witch hunt. Because even madam 'most beautiful' minister is trying to get a hospital order restraining Buhari from probing since no court will grant her that.

But he won't probe danjuma or obasanjo or babangida. These things started during their regimes. Why has buhari sworn never to probe them?

You haven't moved yet and some people are already sick in London hospital...

What will happen to them when you do?

'Our Oyel' crew will be so disappointed to hear those words. Imagine going to jail for taking what's 'yours' . . . Lol

We are waiting. We want to here big names not messengers like John the baptist who was beheaded in the prison because he came to bear witness for Jesus Christ.

Catch the big and small.

worthytalk:
I understand Buhari's predicament. After several years of drinking cow milk as a cattle herder he now reason as cow. The cow brain president of the zoo is a reproach to his generation.

Must you comment?

can't yu be reasonable and use your common sense for once?

SHM

In as much as i am throwing my weight behind Pa Buhari on the mission of probing people who have in one way or the other run the country as if its their father property, it had be better if all this is done underground, as still as a mouse, when the whole investigation have revealed one is culpable then it can now be revealed because people are getting tired of all this talk, talk ad-infinitum.

sigh***

these explains why Allison hasnt been arrestes yet. She must be fully involved in this act.

Get well soon for EFCC ma

owobokiri:
But he won't probe danjuma or obasanjo or babangida. These things started during their regimes. Why has buhari sworn never to probe them?

Why did Jonathan failed to probe any of his predecessors?

wapSmart:
In as much as i am throwing my weight behind Pa Buhari on the mission of probing people who have in one way or the other run the country as if its their father property, it had be better if all this is done underground, as still as a mouse, when the whole investigation have revealed one is culpable then it can now be revealed because people are getting tired of all this talk, talk ad-infinitum.

What would you have preferred him do when he was asked a question? To keep mute or what?

Ok

Ok

PMB can do no wrong at the moment #babacarrygo

PassingShot:

What would you have preferred him do when he was asked a question? To keep mute or what?

LOL.. I wont prefer him to remain tongue-tie but there are more simple and short answer one can give to a question. What happen to such a statement like "We are on top of the situation".

wapSmart:
LOL.. I wont prefer him to remain tongue-tie but there are more simple and short answer one can give to a question. What happen to such a statement like "We are on top of the situation".

I am having a very big laugh at your suggestion especially at the emboldened . PMB saying that will easily make him come across as having no clue about the issue being discussed. Why was Jonathan termed "clueless"? It was his inability to display adequate knowledge about issues asked.

If the president doesn't say as much as he does now, the noise would have been louder about his perceived slowness. That the presidency tells us certain steps they're taking is what has made some people accept the need to be slow and steady.

Orfankwagh:
k

. U read it too? Or u said so? Tomoro u wil deny it agan

PassingShot:

I am having a very big laugh at your suggestion especially at the emboldened . PMB saying that will easily make him come across as having no clue about the issue being discussed. Why was Jonathan termed "clueless"? It was his inability to display adequate knowledge about issues asked.

If the president doesn't say as much as he does now, the noise would have been louder about his perceived slowness. That the presidency tells us certain steps they're taking is what has made some people accept the need to be slow and steady.

So it had be better he keeps talking without any action. Exactly tommorow it will 2 months Buhari take over the affair of the country and ever since it is talk talk. I pray this issue of NNPC didnt hit the rock.

wapSmart:
So it had be better he keeps talking without any action. Exactly tommorow it will 2 months Buhari take over the affair of the country and ever since it is talk talk. I pray this issue of NNPC didnt hit the rock.

What exactly are the actions and results you were expecting in two months that you have not seen? Bring forth your expectations in two months and let's discuss them.

Hmmm.

PassingShot:

What exactly are the actions and results you were expecting in two months that you have not seen? Bring forth your expectations in two months and let's discuss them.

April 2, 2015
I will crush Boko-Haram in 2 months - BuharI.
https://www.nairaland.com/2232186/crush-boko-haram-within-two

Tommorow it will be exactly 2months he is sitting on the throne yet ram-ram boko are becoming more horrendous.

Hope we are good now

wapSmart:
In as much as i am throwing my weight behind Pa Buhari on the mission of probing people who have in one way or the other run the country as if its their father property, it had be better if all this is done underground, as still as a mouse, when the whole investigation have revealed one is culpable then it can now be revealed because people are getting tired of all this talk, talk ad-infinitum.

A question was asked of him and if he had parried the question then more questions would emanate from the wailers and they won't stop wailing cos that's Wat they know how to do best.

wapSmart:

April 2, 2015
I will crush Boko-Haram in 2 months - BuharI.
https://www.nairaland.com/2232186/crush-boko-haram-within-two

Tommorow it will be exactly 2months he is sitting on the throne yet ram-ram boko are becoming more horrendous.

Hope we are good now

I listened to the interview live and direct with CNN's Amanpour. What PMB said was "in few months" and not "two months" as deliberately and wickedly reported. APC even clarified it http://dailypost.ng/2015/04/03/buhari-did-not-promise-to-end-boko-haram-in-two-months-apcpco/ but enemies will prefer to hold on to the lie.

Next?

Lalalalalalalala! Oya wailing demons over to you!

worthytalk:
I understand Buhari's predicament. After several years of drinking cow milk as a cattle herder he now reason as cow. The cow brain president of the zoo is a reproach to his generation.

Wailer