[size=14pt]‘Jonathan fighting corruption with subsidy probe’[/size]
By Vincent Ikuomola, Abuja 6 hours 40 minutes ago

Economic and Financial Crimes Commission (EFCC) investigation of subsidy payments is an indication that President Goodluck Jonathan was prepared to eradicate corruption in the oil and gas sector.

The probe, according to an official in the Presidency also shows that the president is not prepared to shield anybody.

The source who does not want to be named also said the fraud revealed by KPMG report predates Jonathan’s administration.

By inviting EFCC to investigate all subsidy payments, the source said President Jonathan “has demonstrated that he is determined to clean the oil and gas sector and that is why he went ahead to authorise the EFCC to probe those responsible for the subsidy fraud”.

On the KMPG audit, the source said  the audit was commissioned by  Olusegun Aganga, the then minister of finance, following the controversies that trailed the subsidy payment. KMPG and Afe Afemike and Co were commissioned to carry out a forensic audit of Nigeria National Petroleum Corporation (NNPC) and the Petroleum Products Pricing Regulatory Agency (PPPRA) between 2007 and 2009.

“If you look at the report critically, the auditors were specifically directed to probe the period between 2007 to 2009. This time, President Jonathan was not the president, Mrs. Dieziani Alison-Madueke was not the petroleum minister and Austen Oniwon was not the group managing director of NNPC,” the source explained.

Some of the findings of the KPMG audit report were that “production /commercial allowable volumes have been observed to consistently exceed Organisation of Petroleum Exporting Countries (OPEC) quota of 1,673,000 BBL/D for the six month period (April to September 2010)”, the audit panel also recommended a “Proactively initiate steps with OPEC to review and agree/ update current quota”.

The report also revealed that “non-compliance with OPEC quotas by OPEC countries could exert a downward pull on crude oil prices which results in reduced revenues for the government”, adding that Nigeria may be “fined for exceeding OPEC quota” and could “negatively impact on the country’s oil/gas reserves projections and plans.”

The auditors were very critical of the NNPC’s “poor data management” because there was “no centralised location for storing electronic copies of historical production and allocation data”, instead “the information are stored on personnel (individual) workstations” which may have resulted in the “potential loss of historical production information in event of staff turnover or system failure.”

On Pricing, the report observed “variances in crude sales price especially with regards to domestic sales to PPMC. Crude sales to NNPC were at lower prices (lower than approved Official Selling Price) than to other off-takers which is not in compliance with Government’s directive”, adding that the development was in “potential conflict of interest with NNPC’s Crude Oil Marketing Department (COMD), acting as agent to Government and being under NNPC who is also its customer.”

The report revealed further that “NNPC is invoiced in US$ for domestic crude allocations but is expected to remit the equivalent naira value to the Federation Account. However we observed that exchange rates used by NNPC were lower than the average exchange rates published by the CBN during the review period.”

http://www.thenationonlineng.net/2011/index.php/news/33900-%E2%80%98jonathan-fighting-corruption-with-subsidy-probe%E2%80%99.html

Many are gonna be roasted, if they like, let them sponsor a million "revolutions."
Aluta!

Fresh Air!

Beaf:

Many are gonna be roasted, if they like, let them sponsor a million "revolutions."
Aluta!

Fresh Air!

Hopefully they don't sweep the case and the guilty under the table.

9ja4eva:

Hopefully they don't sweep the case and the guilty under the table.

That is the fear one always has in Nigeria, judging by our past, it is a very legitimate fear indeed. This is a test for the sincererity of GEJ's transformation project, we also each have a stake in it. No phucker should be allowed to escape justice.

he is a joke. is it not this same jonathan that gave national award to the inspector general of police a couple of months back? under this same govt, N100M public funds was given to the family of the slain boko haram leader. it is a shame that only N5m was given to the youth service members killed in all these problems.
jonathan is his family members are corrupt. his wife is as corrupt as the cabals. charity must begin from home.

^
Why do you always regurgitate the same useless old stuff like clockwork? Bros, you de make me weak o!
I prefer it when you quote from the bible, cos then we know you've derailled kpatakpata!

Please stick to the topic. Thank you.

An unintended consequence of the subsidy removal of Jan. 1, is the uniting of Nigerians against incompetence, corruption & fraud. I will give the protesting masses credit for this. People like Beaf have a right to give the credit to GEJ and his handlers.

Either way, it is time for all of us to stand firm against these thieves. To be honest with you, the reasons why OBJ did not have a Minister of Petroleum and decided to personally run the ministry is clearer than ever. I believe the time has come for OBJ and others to account for their sins against Nigeria.

Not until the thieving witch Patience Jonathan and her fleets of crude oli thieving barges are burnt to ashes or Mike Adenuga is tied with chrome plated chains or Wale Tinubu is staked to an old wooden cross, the jokes is on GEJ.

From one charade to another, Nigeria the land of the living dead.

Beaf:

That is the fear one always has in Nigeria, judging by our past, it is a very legitimate fear indeed. This is a test for the sincererity of GEJ's transformation project, we also each have a stake in it. No phucker should be allowed to escape justice.

I agree.

ndu_chucks:

An unintended consequence of the subsidy removal of Jan. 1, is the uniting of Nigerians against incompetence, corruption & fraud. I will give the protesting masses credit for this. People like Beaf have a right to give the credit to GEJ and his handlers.

Either way, it is time for all of us to stand firm against these thieves. To be honest with you, the reasons why OBJ did not have a Minister of Petroleum and decided to personally run the ministry is clearer than ever. I believe the time has come for OBJ and others to account for their sins against Nigeria.

the fuel subsidy crises did not unite nigerians in anyway,it only exposed the insincerity of various tribes to one another,the insincerity of civil society groups and politicians and the monumental corruption which fuel subsidy is.

i wonder why gej and his monkeys did not call for an investigation before their shameful removal fiasco, even with all the red flags raised by sanusi

who do these muppets think they are deceing

credit for this goes to the real sng and channels tv

gej and his nl muppet are just playing to the gallery now that their yansh is exposed

The probe, although it is desirable, is a fall-out of the subsidy removal protests. There's nothing to suggest that it was in the plan of the government. Government needs to be more proactive and not reactive, especially when the warning signs are there.

Anyway, the outcome of the probe will be an acid test for the government. I wish them well.

We are waiting for the outcome of the probe.

WE ARE TIRED OF STORIES, WE NEED ACTIONS AND RESULTS.

I will know he's fighting corruption if Alison madueke,Ngozi iweala,the cabals that gained from the subsidy fraud,the NNPC,DPR and PPPRA staff that perfected the scam all end in jail.What is the point of a probe if there is no punishment for the offenders ?

LMFAO. Which corruption? Clown

Jonathan Ebele Goodluck Azikiwe (jega 2) is so confused that he does not know which one to come first. he simply clean his a/s/s before going to toilet.
a man that cannot handle the boko haram finds it simple to deploy soldiers to lagos state.
it is obvious that he can't even handle situations in his home state. i am sorry for beaf.

1025:

i am sorry for beaf.

no sorry for am o - water done full im mouth

1025:

Jonathan Ebele Goodluck Azikiwe (jega 2) is so confused that he does not know which one to come first. he simply clean his a/s/s before going to toilet.
a man that cannot handle the boko haram finds it simple to deploy soldiers to lagos state.
it is obvious that he can't even handle situations in his home state. i am sorry for beaf.

It is on record that an arrow head of the Boko Haram who mastermined the Christmas Day bombing was found and arrested.

It is on record that the Huasa Fulani in the Nigerian Police Force who love Boko Haram more than Nigeria arranged for guy to escape.

It is on record that Mr. President gave a 24hr ultimatum to the police head to find the man.


Perhaps, if Boko Harams are not in the House of Rap (sorry Rep), the SINate (sorry senate), the Army, the NPF, the Air force, politicians, Moslem Scholars and preachers, ordianry men/women on the streets, Boko Haram will not still be an issue till now.

It is on record that Nigerians were angry that there was no probe on the NNPC and Subsidy madness.

Now, it is also on record that you are angry that Mr. President has ordered a probe.

Cheers.

How many probes has been constituted under the most wicked party (PDP) in the world? What has been the outcome of them all?

A bigger thief (Jonadunce) with his pathetic thief of a wife asking for probe? Who are we deceiving in this country?

Yeah right, fighting corruption while dancing around sacred cows - his godfathers

[img]http://t2.gstatic.com/images?q=tbn:ANd9GcQt_uPavldALfZWL9ba9FE6NJfqDh6Jz3K5LKcC8qKf-kndVOOhbg[/img]

<coughs> Whatever happened to Presido's assets declaration form?

9ja4eva:

Hopefully they don't sweep the case and the guilty under the table.

this one wil nt b bizness as usual, if nt they are dead, wat hapind in egypt wud b worse here.

Everybody in Nigeria has got a monetary price tag, and once the shakers and movers are adequately induced, a political, ethnic, religious compromise is always reached.

They are deceiving themselves , not nigerians anymore! They are bunches of deceitful idiotics.

Nigeria is indeed in the process to a true trans parant society.The fuel subsidy did created more awareness es to Nigerians and i really do agreed that this is just the beginning of the cleaning up of all the messes withing the oil sector and govt in general.
There is no govt in Nigeria that has been so trans parant as gejs govt, the buttom line is that many Nigerians prefer to give negative judgment without waiting for a result.
it is difficult to satisfy  the Nigeria society because they want a quick result. But mind you a process is needed, and we or rather this govt i believe is ON the process.
In Nigeria we hv no memory.criminals will even mobilise the public to riot and destroy our society in their own interest.
This is 21 century.

ndu_chucks:

An unintended consequence of the subsidy removal of Jan. 1, is the uniting of Nigerians against incompetence, corruption & fraud. I will give the protesting masses credit for this. People like Beaf have a right to give the credit to GEJ and his handlers.

The Law of Unintended Consequences

The law of unintended consequences, often cited but rarely defined, is that actions of people—and especially of government—always have effects that are unanticipated or unintended. Economists and other social scientists have heeded its power for centuries; for just as long, politicians and popular opinion have largely ignored it.

The concept of unintended consequences is one of the building blocks of economics. Adam Smith’s “invisible hand,” the most famous metaphor in social science, is an example of a positive unintended consequence. Smith maintained that each individual,  seeking only his own gain, “is led by an invisible hand to promote an end which was no part of his intention,” that end being the public interest. “It is not from the benevolence of the butcher, or the baker, that we expect our dinner,” Smith wrote, “but from regard to their own self interest.”

http://www.econlib.org/library/Enc/UnintendedConsequences.html

HOW TO FIGHT CORRUPTION - NAIJA STYLE
1: Corrupt Public Officer embezzles billions of Naira without trying to hide it - Embezzle too little and you will regret falling into the long hands of the LAW.
2: After persistent public outcry or moves by rivals or propaganda groups - Officer is probed by FG and EFCC arrests Officer after painstakingly procuring documents to to charge him to court accordingly
3: EFCC lawyers put forward a robust argument and multiple-count charges enough to cause God to blink twice - ALAS Court either quashes EFCC's case with very minor technicalities or worse sentence the Corrupt Officer to a commuted multiple-year sentences to run con-currently in a tastefully furnished prison cell with access to DSTV, home-cooked meals, visitors, wife and concubines
: Public Officer returns to a rousing congratulatory welcome which mostly includes party bigwigs and sitting governors and sometimes the President's Wife
4: The above is the long story, the short story goes like this. Embezzle public funds, offer FG 3% as plea bargain - get immediate pardon and recieve congratulatory handshake and welcoem from party bigwigs and sitting governors and sometimes the President's Wife

Would they have done this if Nigerians hadn't protested? It's good to see beaf reap the fruit of the mass protests last week.

Would Nigerians have protested if GEJ did not remove Fuel Subsidy at first? This is the big question.
Remember corruption did not start today or in GEJ's tenure, but 'Nigerians' were comfortable with as long as fuel is N65.

Can a Thief catch a thief in a broad day light? Retardeen himself and his wife madam umblera are not corrupt? No ofcourse. This is a game and sooner or later we will see the end of their game. I can't hear of any sacking or probing of anyone yet despite of all the noisy, time will tell. Birds of the same feather.

Honestly, this is what i think has been his game plan ALL ALONG. This is one reason why i said long ago that i will support the FSR not becus it was right.

The truth is this cabal, wede any1 likes it or not is bigger dan d presidents (even Obj). What GEJ has therefore done tactical is to make all Nigerians fight the cabal  as this fight no b 1 man fight.

Thank God its yielding interest oo.

Like i sed earlier, GEJ doesnt have to be a general, or a warlord but he is inteligent enough to fight corruption in a tactical manner. Below is a link to my initial comment/post.

https://www.nairaland.com/nigeria?topic=843408.msg9938407#msg9938407

My only fear is he persecutes all those guilty to the fullest.

^
Exactly bruv! We said exactly the same thing to many of those arguing strangely here, even long before they started their so called "revolution." But it suits them fine to argue blindly, so let them.