Civil Society organizations reaction to the Report of the House of Representatives Ad-hoc committee which investigated the controversial subsidy on petroleum products in the country, have called on President Goodluck Jonathan to take action to sanitize the situation in the country.
At a press conference in Abuja today, the United Action for Democracy (UAD) said that the revelations that emanated from the probe by the Representatives confirmed its position of and that of the mass of Nigerians that it was the corrupt enrichment of a minority and not the affordability of fuel for the vast majority of Nigerians that was being subsidized
The UAD therefore called for the prosecution of all the individuals and corporate bodies found to have been the beneficiaries of the supposed ‘subsidy’. “Further, we call we call for the immediate resignation or sacking of Dr. Ngozi Okonjo Iweala, Minister of Finance, Diezani Allison-Madueke, Minister of Petroleum, and Labaran Maku, the Minister of Information for their demonstrated culpability by acts of omission or commission in the fuel subsidy, the anti people hike in the price of petrol and the conscious promotion of lies to cover up the truth,” the group said.
And in a press statement in Benin City, the Executive Director of Africa Network for Environment and Economic Justice (ANEEJ), Rev. David Ugolor, said the report of the committee further confirmed the rot and mindless corruption represented by the Ministry of Petroleum Resources. “ It exposes the fact that the Minister of Petroleum Resources, Diezani Allison Madueke has been presiding over sleaze and she has no option now but to take the path of honour," he declared.
He said it ought to be clear to President Jonathan by now that he was misled on the issue of fuel subsidy removal on January 1, but that the people of Nigeria have now triumphed over the negative forces in government and Mr. Jonathan should demonstrate his commitment to fighting corruption in the sector. “He should get his anti-graft agencies to prosecute all those linked with this monumental fraud that led to the crisis of confidence between Nigerians and his administration,” he said. “He should be courageous enough to fire the Petroleum Minister so that Nigerians could be convinced that there are no sacred cows in his cabinet."
In the same vein, the UAD said at the press conference that it has closely been observing the evolving situation in the country with respect to growing impunity on the part of those in government, growing poverty in the midst of plenty, and growing insecurity across the country.
It noted that at its recent extraordinary and expanded session of its National Coordinating Council held in Lagos in March, the UAD reflected on the January uprising and the state of the nation, towards consolidating on the gains won by the popular masses.
“The January uprising was a popular upheaval of the poor and suffering Nigerian against the dire and worsening state of poverty, corruption and impunity in high places and disillusionment with the ruling elite in Nigeria which was ignited by the hike in fuel price,” the body said. Despite the premature suspension of the general strike at its peak by the labour movement, which UAD considered to be unfortunate, it said the outcome was a partial victory and Nigerian people victorious because they dared to struggle.
UAD said that with the realization that the Nigerian State remained committed to further hiking the price of petrol, it will henceforth commence intensive mobilization in preparation for mass mobilization in preparation for mass revolutionary action against this and other anti people policy and for system change.
Among others, UAD called for the immediate release, full publication and implementation of the reports of the power sector, fuel subsidy, petroleum sector and pension probes; prosecution and punishment of those implicated and indicted; exemplary punishment to guilty companies; and immediate steps taken to determine actual daily consumption rate for petrol; actual daily production capacity for petrol by domestic refineries; and actual daily production capacity of domestic refineries.
Also speaking in Benin City today, ANEEJ's Policy Officer, Mr. Innocent Edemhanria said it was gratifying that one of the recommendations in the House committee report is the immediate unbundling of Nigeria National Petroleum Corporation (NNPC), which the Petroleum Industry Bill seeks to achieve.
“The passage of the Petroleum Industry Bill into law will complement the effectiveness of the Nigeria Extractive Industry Transparency Initiative(NEITI) Secretariat which recent 2006 – 2008 audit reports confirmed the urgent need to reform the oil and gas sector in Nigeria so as to create the enabling environment for all stakeholders,’’ Edemhanria stressed.
http://saharareporters.com/news-page/fuel-subsidy-fallout-combat-corruption-sack-okonjo-iweala-allison-madueke-civil-society-or |
Looters tried to kill our report – Committee
on APRIL 20, 2012 · in HEADLINES
2:00 am
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By Our Reporters
ABUJA—Chairman of the House ad-hoc committee on the utilization of subsidy, Rep. Farouk Lawan at a press conference, yesterday, admitted serious pressure from government, marketers and other quarters on his committee for a favourable consideration during its investigation. Lawan at the briefing further asserted that there would be no need for fuel importation in a regime of transparency in the petroleum sector.
This came as apprehension mounted in the presidency and the ruling Peoples Democratic Party, PDP yesterday over the contents of the House of Representatives report on investigation of the utilization of the subsidy in the prices of petroleum products.
The apprehension based on the indictment of some major contributors to the party’s campaign coffers of 2011 heightened as the PDP summoned a meeting with the members of the House for April 30.
The party, however, dismissed the alleged anxiety saying that it welcomed the probe even as it admitted that only 12.75% of those indicted by the House report were contributors to the party’s campaign purse.
The apprehension nonetheless, criticism of the administration from opposition groups, lawyers, organised labour and civil society overflowed yesterday with calls on the administration to ensure full implementation of the report.
Tukur summons PDP House caucus meeting
The perceived apprehension in the PDP came as the national chairman of the ruling party, Alhaji Bamanga Tukur yesterday requested a meeting with the PDP House caucus on April 30. More than N1 trillion was recommended by the House committee to be refunded to government treasury on account of the alleged fraud by government agencies and marketers involved in the subsidy scam.
Briefing House correspondents after yesterday’s sitting, the Chairman of the House Committee on Media and Public Affairs, Rep. Zakari Mohammed said, the recommendations of the Ad-hoc committee would be fully implemented to the letter.
Flanked by Lawan, Mohammed said, “we do not prosecute but we will ensure that the executive arm of government implements its recommendations to the letter. We will use all our legislative powers to ensure that after adoption, the report sees the light of the day.”
Asked how the legislative arm can achieve this, Mohammed said, “we are ingenuous, the executive arm will come to us also for certain things and we can use this report as a pre-condition and tell them that let this be done or we won’t do certain things that you are requesting us to do.”
Speaking at the briefing, Lawan admitted that the committee came under tremendous pressure from Government and oil marketers in the course of preparing the fuel subsidy report.
Lawan said the pressure was enormous but we considered Nigeria first “because if we free the resources in the sector of its ills it would go a long way to benefit all Nigerians rather than a few of us.”
He said: “what we did was to look at 2009 till 2011 when the fuel subsidy started skyrocketing into billions because as at 2008 the fuel subsidy was just a little above N200billion and the companies involved then were only 20.
“So we dug from 2009 where there was a proliferation of companies as we needed to limit ourselves because of time to ensure we do a very good work. There were so many pressures from government officials and marketers who wanted to reach us through some of our colleagues. If we have compromised we wouldn’t have had the courage to ask them the questions we asked them.”
He, however, dismissed the initial media reports that the committee doctored the report before it was laid before the House. “The report has revealed a lot of things, and we extended the scope of our investigation”, Lawan said, stressing that “we are asking Mr President to reorganise the Federal Ministry of Petroleum Resources”, considering the spate of corruption revealed during the probe.
The committee also asked the Presidency to dissolve the Board of NNPC and PPPRA in the bid to sanitize the sector.
He maintained that there is “no need for importation of petroleum products for local consumption, if NNPC can effectively manage the local production stressing that government was losing too much money granting licence for importation of petroleum products.”
The legislator who doubles as chairman, explained that the escalation of money spent on fuel subsidy manifested when the committee resolved to extend the scope of the investigation to 2009. He added that the committee discovered proliferation of companies that participated in the subsidy rose during the period under review.
No anxiety in PDP — Metuh
Dismissing perceptions of anxiety in the ranks of the PDP, the national publicity secretary of the party, Chief Olisa Metuh told Vanguard yesterday that the party on the contrary fully endorsed the House investigations as, according to him, it would lead to the entrenchment of a regime of transparency as envisaged by the party.
“The party is happy with the National Assembly and charged PDP members to assist the President in his fight against corruption. Last week, the Party issued a statement condemning corruption. PDP supports all the probes going on and at the end of the day, they will assist the President in establishing an open and transparent system,” he said.
Tasked on the culpability of major contributors to the party coffers by the report, he said: “The people who you are talking of were only 12.75% of those indicted by the report and I hope that the public will not say that the remaining 87.25% are being indicted for not contributing to our campaign.”
Metuh’s defence nonetheless, serious attack came the way of the ruling party and government from opposition parties and civil society groups over the contents of the report.
CPC, NLC, others kick
The Congress for Progressive Change, CPC speaking through its national publicity secretary, Engr. Rotimi Fashakin said the report represented the insensitivity and lack of conscience of the country’s present set of rulers as he accused the PDP of breaking the bank to ensure the election of President Goodluck Jonathan.
The NLC in its reaction to the report claimed the report had unveiled the corruption it said was inherent in the petroleum industry claiming it felt justified with its decision to oppose the removal of subsidy in petroleum products at the beginning of the year. The NLC in its reaction articulated by its Acting National Secretary, Comrade Owei Lakemfa equally demanded that the Ministers of Finance and Petroleum in the period during which the abuses occurred should be brought to account.
The NLC deposed thus: “For the NLC, the Report is a mere tip of the iceberg; there is the need for further investigations. For instance, the recommendation that the Executive Secretaries of the Petroleum Products Pricing and Regulatory Agency, PPPRA, from 2009 to date be probed, does not go far enough. There is the need to probe the oil industry from the inception of civil rule after the rapacious military regimes had departed. Some of the findings of the House Report show clear indication of criminality; therefore it is not enough for private and public organisations like the NNPC, PPPRA to be asked to make refunds. The Government has a duty to bring the officers of such organizations and their supervisors to justice.
“We also hold that the Ministers in the Finance and Petroleum Ministries and their lieutenants under whose watch the NNPC made unconstitutional deductions from the country’s oil income before dumping the balance in the Federation account, should be investigated for culpability. The massive looting of the subsidy funds and the corruption in the oil industry are sufficient grounds for the N97 per litre cost of PMS (petrol) to be drastically reduced. The NLC holds that if the government plucks up courage to do local refining, the cost of PMS need not be as high as the old price of N65 per litre.”
The NLC commends the House of Representatives and its ad hoc Committee for carrying out the probe and mustering the courage to make the Report public.
Save Nigeria Group reacts
In its own reaction to the subsidy report, the Save Nigeria Group, SNG, called for a sanctioning of the Minister of Petroleum and all other authorities involved in the approval of the payments.
In a telephone chat with Vanguard, spokesman for SNG, Mr Yinka Odumakin said:
“What we have been saying has now come to the fore. What we are dealing with is corruption and subsidy in the oil industry because if we were actually doing subsidy, we won’t have spent such huge amount of money, not to talk of the over 900 per cent that was now paid to thieves in the name of subsidy. As we speak, the figure is still mounting because we understand that another N547
billion has been deducted as carry over from last year, which will now make it N3 trillion in just one year.”
Lawyers react
Lawyers who reacted to the report were also scathing as many of them called for the prosecution of those indicted.
Bamidele Aturu
Mr Bamidele Aturu on his part said:
“It has confirmed what I have been saying all along that people are just reaping from where they did not sow. Many people have been robbing us and so the House of Representatives did not say anything new. There are so many emergency billionaires in Nigeria. I have said it before that we should use this opportunity to cleanse the Petroleum industry.”
He also added that “We should also ensure that the courts do their work and speedily too because this is not a report that we should just sweep under the carpet. One of the functions of the National Assembly is to expose corruption with the aim of amending the law. The National Assembly should come out to amend all necessary laws regarding the petroleum industry. Having exposed corruption, the EFCC and ICPC should move in to do their work because Nigerians have been short changed by these oil racketeers.”
Godwin Obla
Chief Godwin Obla who is a lead prosecutor with the Economic and Financial Crimes Commission, EFCC said:
“There is no doubt that the probe panel did a wonderful job though some are still critical about the extent they acted, however, asking the indicted organizations to make refund should not have been the best option. The panel should have asked the leadership of the National Assembly to transmit its findings to the anti-graft agencies for them to take up the case and subject the report to further investigations that will lead to either filing of charge or prosecution of those affected.
“I don’t think that the National Assembly actually have the authority to ask for the refund, it is an issue that should be resolved by the court, anyway, I followed the probe process on television and I believe that they have done a good job.”
Udofia Akpan
Chief Nkereuwem Udofia Akpan, a constitutional lawyer said: “Clearly the chickens have come home to roost. President Goodluck Jonathan must show courage and leadership in this matter. These allegations are far too weighty to be swept under the rug just like the illegal and hasty oil block deals last year. Nothing short of a complete overhaul of the NNPC will restore public confidence in the government and its readiness to fight the hydra-headed monster that corruption has become. The Minister of Petroleum resources, her henchmen in the Ministry, NNPC, PPRA, DPR and PPMC must be removed if the president fails to act then he may be fuelling the armoury of his critics.”
For Mr Festus Keyamo said: “All the firms should be prosecuted. The onus is now on the federal government to show its sincerity towards fighting corruption in the country by initiating criminal proceedings against all the firms involved in the fraud. The case should be regarded in the same category as the Halliburton bribery scandal.”
http://www.vanguardngr.com/2012/04/looters-tried-to-kill-our-report-committee/ |
Subsidy regime fraught with corruption and inefficiency – Report
on APRIL 19, 2012 · in NEWS
9:41 pm
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FOLLOWING the removal of subsidy on PMS on January 1, 2012 by the Federal Government of Nigeria and the attendant spontaneous social and political upheavals that greeted the policy, the House of Representatives in an emergency session on January 8, 2012 set up an Ad-hoc Committee to verify and determine the actual subsidy requirements and monitor the implementation of the subsidy regime in Nigeria.
The Federal Government had informed the nation of its inability to continue to pump endless amount of money into the seemingly bottomless pit that was referred to as petroleum products subsidy. It explained that the annual subsidy payment was huge, endless and unsustainable. Nigerians were led to believe that the colossal payments made were solely on PMS and HHK actually consumed by Nigerians. Government ascribed the quoted figures to upsurge in international crude price, high exchange rate, smuggling, increase in population and vehicles, etc.
R-L: Chairman Ad-hoc committee investigating Subsidy Regime Hon. Farouk Lawal; Chairman, House Committee on Media and Publicity, Hon. Mohammed Zakari; and deputy Chairman of the Committee, Hon. Victor Ogene at the briefing on fuel asubsidy report. Photo:Gbemiga Olamikan.
However, a large section of the population faulted the premise of the Government subsidy figures, maintaining that unbridled corruption and an inefficient and wasteful process accounted for a large part of the payments. To avert a clear and present danger of descent into lawlessness, the leadership of the House of Representatives took the bold and decisive action of convening the first ever Emergency Session on a Sunday (January 8, 2012), and set up the Ad-hoc Committee to verify the actual subsidy requirements of the country.
The Committee decided that the scope of this investigation should be for three years 2009 -2011 for the following reasons:
• The actual budget expendfture on subsidy for both PMS and HHK was tolerable, being N261.1 b in 2006, N278.8b in 2007 and N346.7b in 2008. 5 companies including NNPC were involved iQ 2006, 10 in 2007 and 19 in 2008 contrasted to 140 in 2011.
•Secondly, in line with accounting practice, the, Committee decided to investigate three years activities of the scheme.
•The Committee could have chosen to limit the investigation to 2011 alone given the scale of escalation of subsidy in that year alone but decided to take three years to establish a trend.
The Ad-Hoc Committee held Public Hearings from January 16, 2012 to February 9, 2012, taking sworn testimonies from 130 witnesses, receiving information from several volunteers, and receiving in evidence over 3,000 volumes of documents. In the course of the investigations the Ad-Hoc Committee was able to establish the following:
1.Contrary to statutory requirements and other guidelines under the Petroleum Support Fund (PSF) Scheme mandating agencies in the industry to keep reliable information data base, there seemed to be a deliberate understanding among the agencies not to do so. This lack of record keeping contributed in no small measure to the decadence and rots the Committee found in the administration of the PSF. This is evident also in the budget preparatory process by MDAs where adequate data is not made available to the National Assembly. The Committee had to resort to forensic analysis and examination of varied and external sources (including the Lloyds List Intelligence) to verify simple transactions. In this regard, the PPPRA is strongly urged to publish henceforth, the PSF accounts on quarterly basis to ensure transparency and openness of the subsidy scheme.
2. We found out that the subsidy regime, as operated between the period under review (2009 and 2011), were fraught with endemic corruption and entrenched inefficiency. Much of the amount claimed to have been paid as subsidy was actually not for consumed PMS. Government officials made nonsense of the PSF Guidelines due mainly to sleaze and, in some other cases, incompetence. It is, therefore, apparent that the insistence by top government officials that the subsidy figures was for products consumed was a clear attempt to mislead the Nigerian people.
3. Thus, contrary to the earlier official figure of subsidy payment of N1.3 trillion, the Accountant-General of the Federation put forward a figure ofN1.6 trillion, the CBN N1.7 trillion, while the Committee established subsidy payment of N2,587.087 trillion as at December 31, 2011, amounting to more than 900 per cent over the appropriated sum of N245 billion. This figure of N2, 587.087 trillion is based on the CBN figure of N844.944 billion paid to NNPC, in addition to another figure of N847.942 billion reflected as withdrawals by NNPC from the excess crude naira account, as well as the sum of N894.201 billion paid as subsidy to the Marketers.
NNPC withdraws from two sources
The figure of N847.942 billion quoted above strongly suggests that NNPC might have been withdrawing from two sources especially when the double withdrawals were also reflected both in 2009 and in 2010.
However, it should be noted that as at the time the public hearing was concluded, there were outstanding claims by NNPC and the Marketers in excess of N270 billion as subsidy payments for 2011. Whereas the mandate of the Committee was necessitated by the removal of subsidy, the Committee found out that subsidy payment on kerosene formed an Integra part of the total sum.
4. On its part, NNPC was found not to be accountable to any body or authority. The Corporation, in 2011, processed payment of N310.4 billion as 2009 – 2011 arrears of subsidy on Kerosene, contrary to a Presidential Directive which removed subsidy on Kerosene in 2009. The Corporation also processed for itself, direct deduction of subsidy payment from amounts it received from other operations such as joint venture before paying the balance to the Federation Account, thereby depleting the shares of States and Local Governments from the distributable pool. Worse still, the direct deduction in 2011 alone, which amounted to N847.942 billion, was effected without any provision in the Appropriation Act.
5. While NNPC feasted on the Federation Account to bloat the subsidy payable, some of the marketers were involved in claiming subsidy on products not supplied. PPPRA laid this foundation by allocating volumes of products each quarter to the marketers which it knew were not in conformity with its own guidelines for participation.
6. Our investigation further revealed that certain marketers collected subsidy of over N230.184 billion on PMS volume of 3,262,960,225 litres that from the records made available to us were not supplied. Apart from proliferation and non-designation of bank accounts for subsidy payment, PPPRA and the OAGF were unable to manage in a transparent manner the two accounts they chose to disclose. There were indications that PPPRA paid N158 billion to itself in 2009 and N157 billion in 2010. When confronted, the OAGF was unable to submit details of the bulk payments arrogated to PPPRA and the account from which the bulk sums were disbursed to the supposed beneficiaries.
7.Curiously too, the particular Accountant-General that served during the period 2009 was found to have made payments of equal instalments of N999 million for a record 128 times within 24 hours on January 12 and 13, 2009, totalling N 127.872 billion. The confirmed payments from the CBN records were made to beneficiaries yet to be disclosed by the OAGF or identified by the Committee. We, however, discovered that only 36 marketers were participants under the PSF Scheme during this period. Even if there were 128 marketers, it was inconceivable that all would have imported the same quantity of products to warrant equal payments.
Over-invoiced volume
8. In order to arrive at a probable figure of dailyconsumption of PMS, the Committee took the entire volume of 14,787,152,340 litres imported by marketers and NNPC in 2011 as recorded by PPPRA and then deducted what we suspected as over-invoiced volume of 3,276,949,993. Thus, the actual volume imported for year 2011 was 11,510,202,347. This manifested into an average daily PMS consumption of 31.5 million litres.
9. However, in 2012 marginal increment of 1.5 million litres a day is recommended in order to take care of unforeseen circumstances, bringing it to 33 million litres per day. And to maintain a strategic reserve, an additional average of seven million litres per day (or 630 million litres per quarter) for the first quarter of 2012 only is recommended. Thus, PPPRA is to use 40 million litres of PMS in the first quarter as its maximum ordering quantity per day. In subsequent quarters PMS daily ordering quantity should be 33 million litres per day. For Kerosene, the Committee recommends a daily ordering quantity of nine million litres.
10. On the issue of kerosene subsidy, the Committee strongly advocated for a Government policy to immediately recommence subsidy payment on the product by urging withdrawal of the 2009 Presidential Directive.
11. We also proposed a budget amount of N806.766billion for the 2012 fiscal year for payment of subsidy on PMS and Kerosene.
12. For the 2012 Appropriation Act, the Committee’s recommendation is based on the following: PMS: 33,000,000 Litres x N44 (subsidy) x 365 days = N529,980,000.00 Provision for strategic reserve for 1st Quarter of 2012: 7,000,000 x N44 (subsidy) x 90 days N27,720,000.00 HHK 9,000,000 litres x N101 (subsidy) x 274 days = N249,006,000.00 Total N806,766,000,000.00
Note: Commencement of kerosene subsidy is as from the second quarter of 2012, since the Committee is of the opinion that the product is still not under the subsidy regime. Therefore, the Committee recommends the sum of N806.766billion as subsidy for year 2012.
13. With regards to the 445,000 bpd allocation to NNPC, the Committee believes that with the current refining capacity of 53 per cent and the SWAP/Offshore processing arrangement of the balance of 47 per cent, it is sufficient to provide the nation with the following products:
a. 40 Million Litres Per Day (MLPD) of PMS, b.10 MLPD of Kerosene (HHK) c. 8.97 MLPD of Diesel (AGO) d. 0.62 MLPD of LPG and e. 2.31 MLPD of FO
It is only AGO whose average daily consumption of 12 million Litres per day will not be achieved in full. Since AGO has been deregulated, other marketers can make up for the 3.03 MLPD AGO shortfalls. The implication of this finding is that if NNPC properly manages the allocation of 445 bpd efficiently, the availability of the products can be achieved by the NNPC alone. This contrasts the situation where in 2009-2011 NNPC got the daily allocation of 445,000bpd and the nation still had to import through Marketers.
Curiously, although NNPC confirmed that it makes some savings of about N11.00 per litre refining locally than import, it could not be established that the Corporation reflects this cost differential in its claims to subsidy.
The Committee recommends that NNPC be unbundled to make its operations more efficient and transparent and this we believe can be achieved through the passage of a well drafted and comprehensive PIB Bill. All those in the Management and Board of the NNPC directly involved in the infractions identified for the years 2009-2011 should be investigated and prosecuted for abuse of office by the relevant anticorru ption agencies.
14. Part of the funding sources of the PSF Account is over-recovery from marketers. This accrues when product landing cost is·lower than the Ex-Depot price. The Committee observed that:
i. In 2009, there was an over-recovery of N2.766 Billion. This was expected to have been credited to the PSF Account but was not traceable to the official PSF Account disclosed.
ii. Furthermore, in the presentation made by Akintola Williams Deloitte it was claimed that the sum of NGNS.27Biliion was established as overrecovery in 2099, however, there was no evidence that this money was credited to the PSF Account.
15. It is our view that the Guidelines of the PSF Scheme, even as watered down by the Board in 2009, could have salvaged the Scheme if they were observed and enforced. Had the staff of various agencies and government officials not compromised and colluded with certain marketers, the level of corruption would have been minimal. The Committee viewed this fact with serious concern and has suggested measures to ensure that impunity is no longer condoned. Therefore, marketers that had short-changed Nigerians were identified and recommended to make refunds within a time-frame of three months; civil servants were to be sanctioned in accordance with the Civil Service Rules as well as under extant Laws; management staff and top government officials were, based on the gravity of their offences, to be reprimanded, re-deployed, dismissed and, In specific cases, prosecuted for abuse of office and fraudulent practices.
16. The Committee recommended the refund to the treasury the sum of N1, 067,040,456,171.31 trillion from the under listed for various violations.
i.) NNPC (Kerosene Subsidy)’ N310,414,963,613.00
ii.) NNPC (Above PPRA recommendation) – N285,098,000,000.00
iii.) NNPC (Self discount) - N108,648,000,000.00
iv.) Marketers (Total violations, of PSF) N8,664,352,554.00
v.) Companies that refused to appear N41,936,140,005.31
vi.) PPPRA excess paymenLto self N312,279,000,000.00
TOTAL N1,067,040,456,171.31
The Committee believes that if the PSF scheme was properly managed, this sum of N1.070 trillion would have been available to the three tiers of Government for budget enhancement.
17. The Committee recommends that the following transactions be further investigated by the relevant anti-corruption agencies and determine their level of culpability with a view to making further recoveries;
i. Payment of N999m to unnamed entities 128 times to the tune of N127.872 billion
ii. Companies who collected Forex to the tune of $402.610 billion whose utilization is questionable to the Committee.
iii. The 72 Companies listed under the.financial forensics are hereby recommended for further investigation by the relevant anti-corruption agencies with a view to establishing their culpability and recovering the sums indicated against their names totalling N230, 184,605,691.00.
iv. The Over recoveries of N2.766 billion and N5.27 billion which were not accounted for by the office of the Accountant General of the Federation.
v. The cases of double deductions by the NNPC for sUbsidy payments in 2009,2010 and 2011 mentioned in this Report.
http://www.vanguardngr.com/2012/04/subsidy-regime-fraught-with-corruption-and-inefficiency-report/ |
