PREMIUM TIMES has uncovered one of the most fraudulent crude oil deals carried out by the administration of Goodluck Jonathan, which saw cronies of the president pocket billions of naira through a domestic crude oil transportation contract that violated Nigeria’s procurement and economic regulations.

Our estimates indicate that the contracts, which the Nigerian National Petroleum Corporation has now admitted were unnecessarily exorbitant and inappropriately awarded, cost Nigeria N509.3 billion.

How much service the companies offered to pocket that amount remains unclear even to the state oil company, insiders say.

The deal, later disguised as security contract and channeled through the Nigerian National Petroleum Corporation, saw two companies belonging to Idahosa Okunbor and Tunde Ayeni, illegally rack up billions of naira to purportedly transport crude oil from Escravos to Warri refinery, and Bonny Island to Port Harcourt refinery, by ship, since 2011.

The deal involved the transportation of five millions barrels of crude oil, monthly, from drilling terminals to the refineries using ships, and circumventing direct linking pipelines, at the cost of N3.063.00 ($15.4 USD) per barrel of crude.
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http://www.premiumtimesng.com/news/headlines/190179-investigation-jonathan-alison-madueke-tunde-ayeni-named-in-fraudulent-oil-contracts-that-cost-nigeria-billions.html

Let the breeze blow..

Tunde Ayen'is wealth is the shadiest thing ever!!

The guy started in no real dicernible way, no strong business background, had no family wealth & currently sits as the chairman of skye bank's board, is the co-owner of Ibadan &Yola discos, has shipping & oil mgt coys & fraternises with high level govt VIPs.

He donated 2billion naira to the wailers hero's failed re election bid....

He is in the real biz of "managing Nigeria's common wealth on behalf of a select few..

Tonyebarcanista please come and explain

nonsense talk....prosecute them if you have evidence and stop wailing on pages of newsprint

Govs, businessmen, others donate N21.27bn to Jonathan

President Goodluck Jonathan’s reelection bid received a major boost on Saturday, as businessmen, multinational organisations, interest groups and individuals donated the sum of N21.27bn to support his campaign for the 2015 presidential election.

The naira rain was at the Peoples Democratic Party Fund Raising Dinner held at the old Banquet Hall of the Presidential Villa, Abuja.

The chairman of the occasion, Mr. Tunde Ayeni, set the ball rolling, when he announced a donation of N2bn.

He said the sum consisted of N1bn donated by him and his partner, and another N1bn contributed by their unnamed friends.

Players in the Oil and Gas sector announced a donation of N5bn; those in Real Estate and Building donated N4bn; Transport and Aviation, N1bn; Food and Agriculture, N500m; Power, N500m; Construction, N310m; Road Construction, N250m; National Automative Association, N450m; and Shelter Development Limited, N250m.

The Chairman of the fundraiser committee, Prof. Jerry Gana, said his friends and associates in the power sector were donating N5bn.

The PDP Governors Forum announced a total donation of N1.05billion.

The Bauchi State Governor, Isa Yuguda, who spoke on behalf of the PDP governors, said each 21 of them would donate N50m each.

The SIFAX Group announced N100m donation, while PDP stakeholders in Rivers State supported Jonathan’s bid with N50m.

The 15 states on the board of the Niger Delta Development Commission donated a total of N15million, among other donations.

Several private individuals also gave donations.

Mr. Joseph Makanju, representative of the Chief Fund Raiser and Chairman of the Dangote Group, Aliko Dangote said his principal, who was outside the country, did not leave a mandate.

He, however, promised that as soon as Dangote returned to the country, he would personally see the National Chairman of the PDP, Adamu Mu’Azu, to offer his support.

Makanju assured those at the event that his principal would justify his position as the Chief Fund Raiser with his donation.

Donation pledge forms were made available to guests at the event for personal donations.

Jonathan, in his remarks, described Saturday as a special day, due to the fundraiser. He thanked the donors, while assuring them that the funds would not be wasted or misused.

“I thank everyone who made donation tonight,” said Jonathan.

The President stated that the money was for the PDP, stressing that the amounted generated would help to run the PDP better.

Are these silly goats not tired of propaganda? We want results and not talk. Prosecute them if they are guilty or ever remain quiet.

Sai Kachukwu

APC and their beer-parlor propaganda. 'Insiders say'... I can bet that Alhaji Lai Muhammed, Sowore (SR), Aregbesola, Oshiomole are part of the 'insiders'.

They have moved from 'according to our source' to 'insider'


If they have anything, Buhari should proceed to court! He's yet to recover N1 of stolen fund..

Thank God for sending us a saviour in PMB.

And some black-brained TANoids here still call that thief Jona-daft their 'HERO'

SMH

No matter how Christian or Islamic you are, nothing would have been more Ungodly than returning GEJ and his team of Bandits back to Aso Rock.

If the economy was crawling under him even with unprecedented high oil prices, just imagine what would happen to the economy with record low oil prices.

For those who keep defending these criminals, you lot should be happy that some Patriotic Nigerians had the vision and courage to force PMB on you. Since most of you behave like kids and don't even know what is best for you.

prof1990:
Tonyebarcanista please come and explain

He nor go even attempt am..

& If he attempts to spin his usual tale, Tunde Ayeni is No 2 of 9 children, his elder bros died 3 yrs ago, they are from iya gbede, has 4 sisters, both parents are late..

prof1990:
Tonyebarcanista please come and explain

APC and their beer-parlor propaganda. 'Insiders say'... I can bet that Alhaji Lai Muhammed, Sowore (SR), Aregbesola, Oshiomole are part of the 'insiders'.

They have moved from 'according to our source' to 'insider'

If they have anything, Buhari should proceed to court! He's yet to recover N1 of stolen fund.