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 NNPC, 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.

Read more »

http://www.mynaijareality.com/2015/09/jonathan-alison-madueke-tunde-ayeni.html

Oya prosecute dem