ABUJA — A total probe of the administration run
by immediate past president, Dr Goodluck Ebele
Jonathan is underway as the National Economic
Council, NEC, Ad-hoc Committee on the
Management of Excess Crude Account Proceeds
and Accruals into the Federation Account, headed
by the Governor of Edo State, Mr. Adams
Oshiomhole, is to hire two international forensic
audit firms to probe revenue that accrued into
the Federation Account and how it was spent
under former Dr Goodluck Jonathan as President.

Mr. Oshiomhole told journalists at the end of the
first meeting of the committee in Abuja,
yesterday that the auditors would cover the
period January 1, 2010 to June 1, 2015.

It put paid to calls by the opposition Peoples’
Democratic Party, PDP, that Buhari should extend
his probe to the administrations of Jonathan’s
predecessors, Alh. Umaru Yar’ Adua.and Chief
Olusegun Obasanjo.

Already, some revenue generating agencies have
been invited to brief the committee which will
take detailed briefings from all Ministries,
Departments and Agencies, MDAs of the Federal
Government that deal directly with revenue.

The focus will be on the Nigerian National
Petroleum Corporation, NNPC, the Nigeria
Customs Service, the Central bank of Nigeria, the
Nigeria Extractive Industries Transparency
Initiative, NEITI, among others.

Other members of the committee included Gov.

Nasir Ahmed El-Rufai of Kaduna State, Ibrahim
Dankwambo of Gombe, and Udom Emmanuel of Akwa
Ibom.

He said that the committee did not want its
actions to be bogged down by political
interpretations and that the members were not
professionals. Even if they were professionals, he
said that their duties as governors would not
allow them the time to do a thorough work.

His words, “We held our first primary session
today here with some of the revenue generating
agencies that are supposed to remit funds to the
federation account. We had a successful session
with Customs, NPA, NEITI, SEC, FIRS, and quite a
number of others and next week we will also hear
from CBN, Ministry of Finance, Office of the
Accountant-General of the Federation.

For the remaining ones, we agree we are going to
meet on Thursday next week, NNPC, NPDC, DPR,
NIMASA and other remaining agencies.

We have started the work, with the idea to hear
them out, what they have been doing, with
particular emphasis on revenue accruing from
these organizations and whether or not these
have been remitted to the Federation Account for
judicious distribution.

His words: “We realised that this is a task and
given our mandate, even if we were professional
accountants because we are sitting governors, we
would not have the time to do a forensic audit
which this assignment entails.

“Therefore, we have agreed in line with our
mandate to appoint two reputable international
audit firms to carry out a thorough forensic
audit, not only of NNPC, which is more of excess
crude, but other monies that accrued to the
Federation Accounts. We have other revenues like
bonuses, royalties, taxes, VAT that flow into the
Federation Account.

“We are taking a holistic review of the entire
process, looking at all the agencies that make
contribution of funds to the federation account.

We are convinced that by appointing audit firms,
we will allow professionals to carry out this
exercise, so that it will be free of any political
colouration and also we will ensure the outcome of
the investigation will.

“We have learned, we have listened and asked
questions. I think we all have a clear picture of
what is happening in those organizations before
now. Some have information to supply and we have
drawn attention to those areas, they are willing
to oblige. We believe in the end, we will be able to
not just establish what had happened over the
period but much more important, going forward
with the changes the President has promised the
country.

“It is not going to be business as usual. He
started on a clean slate and everybody knows the
new rules of the game and in particular as the
laws apply to the various institutions are
implemented in full. So I think we started very
well. We are very confident that we are going to
come out with something that is going to be of
immense benefits to the Nigerian people”.

On the rationale for embarking on another audit
report with regards to the alleged missing funds,
he said “Some reports were produced by PWC but
in that report the PWC expressed their
frustration and pointed to the fact that they
were not able to access all the information they
needed and that what they were able to produce
was to the extent of information that was made
available to them.”

He added: “Audit can only be credible as much as
information that was made available to auditors.
The good news now is that with President Buhari,
all the books will be open, no agency has any
protection. Any agency that refuses to open the
books then is ready to go on confrontation with
the authority.

“The forensic audit will act on the whole truth
and nothing but the truth so that all stakeholders
will have basis to formulate good policies and that
Nigeria will never find itself in this circle where
huge sums of money are allegedly diverted and
unaccounted for. Audit has become a way of life
for all public institutions.”

On the duration of the audit exercise, Oshiomhole
explained that the committee had looked at it
professionally. “We are focusing on a five year
circle. What we have agreed is that we are going
to carry out an audit for five years from 1st
January 2010 to 30th June 2015.

“If the audit report reveals that we need to go
backward, then we can do that. But for the first
instance, this is the period that we consider good.
“We can’t impose a time frame on them but will
engage them and by Thursday we will be able to
make it public. We need to listen to them and
agreed with them on how much time will be okay
for them. We are all in a hurry to ensure that the
right thing is done. The emphasis is not on time
but doing thorough job.

“By next week we will meet with the big ones and
we will then be able to tell you the audit firms
that we have appointed. They are firms I am sure
Nigerians will have confidence in.

“At the end of the audit we will hear them out
and reconcile them with what the laws says and
arrive at a position. Given the volume of work and
complicated nature of issues, we agreed we need
professionals to carry out the audit. It is only the
professionals that can handle it. It is not good to
compromise”.


http://www.vanguardngr.com/2015/08/buhari-begins-total-probe-of-jonathans-govt/

Probe! Probe!!probe!!! Issokay.

Ok we are waiting.

Waiting for probe in Nigeria is like waiting for a train at the airport

We are waiting!!! Wailers, how market?