Ngwakwe:


Why not wait for Senate Committee on Finance to complete their job. I believe Sen. Saraki and Markafi can never be intimidated by the executive nor any minister under GEJ.

Dr. Ngozi Iweala and Daziena Madueke cannot withhold the PwC report from the Senate committee hence the opposition should go through the right channel where they have representatives to pressure the Executive than these media rabble rousing meant to score cheap political points.

Ngwakwe:


Can you even interpret raw NNPC audit report without the experts reconciling it with accounts of other agencies?

This same mentality that drove HOR finance committee chairman to hire a professional for N115m to help him draft 50 questions to challenge Dr Iweala for which he couldn't even defend notwithstanding his admirable CV is what is driving you to sound intelligent and important.

Even Mallam Sanusi was a slowpoke when details were presented for discussions.

Why is the opposition trying to beat the gun? If they so much desire to see the report why not file a request or use the court to invoke FOI law?

[s]Ngwakwe:


Can you even interpret raw NNPC audit report without the experts reconciling it with accounts of other agencies?

This same mentality that drove HOR finance committee chairman to hire a professional for N115m to help him draft 50 questions to challenge Dr Iweala for which he couldn't even defend notwithstanding his admirable CV is what is driving you to sound intelligent and important.

Even Mallam Sanusi was a slowpoke when details were presented for discussions.

Why is the opposition trying to beat the gun? If they so much desire to see the report why not file a request or use the court to invoke FOI law?[/s]

LouisVanGaal:
Always defending rubbish

BossAyuk:

I swear the man is very shameless and pathetic. His reply has NOTHING to do with the topic.

oduastates:
Your MWatts gave been deposited in sheepopotamus cayman account. Now imagine the going from lagos to ibadan in 15 min.
Imagine what it will do for the 2 cities.



The THSR 700T operates on the high-speed line between Taipei and Kaohsiung in Taiwan. The train entered into service with Taiwan High Speed Rail in January 2007.
It operates at a speed of 300kmph reducing the journey time between the two cities from four hours to just 90 minutes.
It was constructed by Kawasaki, Hitachi and Nippon Sharyo. Based on Kawasaki's 700 series Shinkansen trains, the 700T was the first Taiwanese rolling stock to import Japanese high speed rail technology.
The total investment for manufacturing the initial 30 trains in the series reached about NT$100bn ($3.4bn).

LouisVanGaal:
Always defending rubbish

Ngwakwe:


Can you even interpret raw NNPC audit report without the experts reconciling it with accounts of other agencies?

This same mentality that drove HOR finance committee chairman to hire a professional for N115m to help him draft 50 questions to challenge Dr Iweala for which he couldn't even defend notwithstanding his admirable CV is what is driving you to sound intelligent and important.

Even Mallam Sanusi was a slowpoke when details were presented for discussions.

Why is the opposition trying to beat the gun? If they so much desire to see the report why not file a request or use the court to invoke FOI law?

Guidette:
Damn. This really jolts one back to reality. FP please.

CFCfan:

America will know that stealing is not corruption.

LRNZH:


You are tactically avoiding the elephant in the room. NOI stated that the forensic audits will be ready by October-November time frame.

We're in December and they have not come out to say anything. This may be a paltry sum to you but NOI expressly admitted that at least $10Billion is missing.


Looking at the projects in the OP (opportunity cost of less than $10Billion), unless you're a beneficiary of the GEJ's Gov't largesse or you're plain ignorant, you should be moved to request for this report to be released ASAP.

It's part of transparency. Mindsets like yours have killed accountability in Nigeria.

Oil Revenue: Audit firm submits report

Written by Olawale Rasheed - Abuja
Monday, 16 December 2013 00:00

AS agencies involved in oil revenue remittance meet the Central Bank of Nigeria (CBN) this week, an international audit firm, PriceWaterCooper, contracted to reconcile the accounts of the Nigerian National Petroulem Corporation (NNPC), has submitted its report to the Minister of Petroluem Resources, Mrs Diezani Alison- Madueke.

The CBN had, in a statement issued on Thursday, said the petroluem minister had directed the auditing of the financial accounts of NNPC.

Nigerian Tribune was told by an official of the ministry that the report was submitted to the minister that same Thursday. According to the official, who could not be quoted because he was not authorised to speak on the report, the firm reviewed NNPC accounts from 2010 to date and concluded that the data used by the CBN was wrong and unfounded.

The report faulted the statistics used by the CBN governor on the ground that the correct data was domiciled with the Department of Petroleum Resources (DPR) and that statistics provided by a unit of the CBN did not tally with the data from the DPR.

The firm faulted the CBN on the ground of double counting and narrow coverage of revenue statistics, even as it noted that the CBN did not question production figures, which could have provided basis for the allegation of missing billions of naira.

The auditing firm noted that it checked all the books covering those of Federal Inland Revenue Service (FIRS), DPR and NNPC relating to oil revenues and production, concluding that no such huge fund was missing.

“We had a review meeting with the firm and the report showed that nothing is missing. The minister will soon make the report public. “But this week’s meeting with CBN will also shed light on where the CBN governor got his data from,” the official said.

Last modified on Sunday, 15 December 2013 22:38

tribune.com.ng/news2013/index.php/en/news/lead-stories/item/28684-oil-revenue-audit-firm-submits-report.html

Ngwakwe:


You are just being unnecessarily busybody.

What has PwC Forensic Audit got to do this kindergarten presentation of projects and contract quotations? Is this the first time this audit has been conducted? Has there been a time it has been made public through the media?

What is secrecy about a government that has the courage to sign FOI all about?

The Freedom of Information bill signed into law by this administration enables you to demand for any document directly or through the court

Why do the opposition insist that others use the court to settle matters when the are not ready to quietly follow the same route?


Abeg as the opposition will say, "Go to court"

Ngwakwe:
Remember we had this report by PwC submitted to the Minister of Petroleum before the Finance Minister, Dr Iweala ordered for the forensic herself

Ngwakwe:


You are just being unnecessarily busybody.

What has PwC Forensic Audit got to do this kindergarten presentation of projects and contract quotations on the thread? Is this the first time this audit has been conducted? Has there been a time it has been made public through the media?

What is secrecy about a government that has the courage to sign FOI all about?

The Freedom of Information bill signed into law by this administration enables you to demand for any document directly or through the court

Why do the opposition insist that others use the court to settle matters when the are not ready to quietly follow the same route?


Abeg as the opposition will say, "Go to court"

PassingShot:



What the OP is doing should be commended by every well-meaning Nigerian.

PassingShot:



What the OP is doing should be commended by every well-meaning Nigerian.

xwolverine:
Obinoscopy, seun, front page please

Ngwakwe:


As I said before the National Assembly has the constitutional mandate to do just that.

LRNZH:


Ngwakwe is biased here.

Ngwakwe:


As I said before the National Assembly has the constitutional mandate to do just that.




Falana Calls On N’Assembly To Order Audit Of Federation Account

Lagos-based Human rights lawyer Mr. Femi Falana (SAN) has called on the National Assembly to stop the “illicit” audit of the Nigerian National Petroleum Corporation (NNPC) and order the Auditor-General of the Federation to carry out a comprehensive audit of the Federation Account.

Falana said this in reaction to the revelation by the Central Bank of Nigeria (CBN) that the Minister of Petroleum Resources, Mrs. Diezani Alison-Madueke, had appointed Price Waterhouse Coopers (PWC) to audit NNPC, noting that the appointment was unconstitutional.

In a statement issued Sunday, Falana said: “As all the probes carried out by the National Assembly since 1999 have failed to check the impunity of the NNPC, the Senate should stop the investigation it has ordered into the missing oil money ($49.8 billion).

“Similarly, the Petroleum Minister should stop the illegal audit of the NNPC ordered by her. In the circumstance, the Auditor-General of the Federation should be directed by both chambers of the National Assembly to audit the Federation Account and submit his report to them within one month.

“This demand is in consonance with Section 85(4) of the Constitution which states that ‘The Auditor-General shall have power to conduct periodic checks of all government statutory corporations, commissions, authorities, agencies, including all persons and bodies established by an Act of the National Assembly’.”

Speaking further, Falana noted that the revelation from the letter written by the Governor of the CBN, Sanusi Lamido Sanusi, on the unremitted $49.8 billion into the Federation Account and NNPC’s reaction to the allegation shows the need for someone to provide clarity as both CBN and NNPC gave conflicting accounts.

Falana said the Jonathan administration owes Nigerians a duty to provide clarity on the conflicting figures issued by both parties.


http://www.informationng.com/2013/12/falana-calls-on-nassembly-to-order-audit-of-federation-account.html

PassingShot:


You exposed yourself further as not-so-smart really.

Falana clearly stated that previous audits conducted by our NA never yielded any result! As such he requested the FG to cause the Auditor General of the federation to audit the allegation. Now the question are:

1. Was the Auditor General instructed to do the audit? I doubt.

2. Has any audit been conducted to unravel the mystery? I doubt this also because no evidence suggesting it.

3. Was PWC commissioned by the FG to do the audit? Yes, NOI said so and promised that the report will be available October/November 2014.


It is pure idiocy to even want to support your argument with a call made by Falana a year ago (Dec. 16th 2013); which has not been heeded by the clueless one.

Or are my missing something?

PassingShot:


You exposed yourself further as not-so-smart really.

Falana clearly stated that previous audits conducted by our NA never yielded any result! As such he requested the FG to cause the Auditor General of the federation to audit the allegation. Now the question are:

1. Was the Auditor General instructed to do the audit? I doubt.

2. Has any audit been conducted to unravel the mystery? I doubt this also because no evidence suggesting it.

3. Was PWC commissioned by the FG to do the audit? Yes, NOI said so and promised that the report will be available October/November 2014.


It is pure idiocy to even want to support your argument with a call made by Falana a year ago (Dec. 16th 2013); which has not been heeded by the clueless one.

Or are my missing something?

Ngwakwe:

Who should release the report to Nigerian public?
The Senate Committee On Finance or the Finance Minister?
Are you conversant with Senate probe on this very matter?
Let me quote Dr Bukola Saraki for you on this very matter.
“I can say on behalf of the committee that these media reports bear no correlation to the content of the Senate committee report and I would urge the public to disregard it in its entirety.
“The committee is yet to receive the report on the forensic audit and independent analysis on the subject clearly indicated we have a lot of grounds to cover in order to determine the level of culpability or otherwise of agency on the alleged non-committal.
“Therefore, to suggest any clearance for anybody at this stage is out of the question. I will further advise that the media should wait for the Senate to release the details of the committee report to the public before they jump into spurious conclusions.”

LRNZH:


PwC are the independent experts. Their report is both forensic audit and the independent expert analysis. That's what Saraki was referring to in the Senate.

I have explained to you, audit reports are not rocket science if the Gov't is not hiding skeletons.