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NNPC Diverted $49.8B Meant For The Nigerian Treasury Between 2012-13 - Sanusi - Politics (5) - Nairaland

Nairaland Forum / Nairaland / General / Politics / NNPC Diverted $49.8B Meant For The Nigerian Treasury Between 2012-13 - Sanusi (12912 Views)

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Re: NNPC Diverted $49.8B Meant For The Nigerian Treasury Between 2012-13 - Sanusi by wirinet(m): 11:47am On Dec 11, 2013
blink182: why are you struggling to show how St.upid you are, for your information FIRS alone in under 12 months remits enough money into the federation account to support the federal budget not to mention NPA, NIMASA, borrowings and the Eca that is always being drawn.

Please if you can't see the big picture then back off.

That is what i have been trying to explain to people whose ethnic bigotry has eroded their senses. Sanusi never complained about remittances from FIRS, DPR or any other government agency. He only complained about remittances from NNPC. It is was not about petroleum taxes or any other taxes associated with the oil industry but actual proceeds from the physical sale of crude oil based on the records of amount lifted from Nigeria.
Sanusi even said that the amount paid as taxes is more than the amount from actual sale of crude oil.

My only grouse against sanusi is that if he is certain of such grand scale corruption, he should honourably resign, because he will not be exonerated from blame if the government fails. Same thing for Okonjo Iweala, who might rubbish the good reputation she had used decades to build.

2 Likes

Re: NNPC Diverted $49.8B Meant For The Nigerian Treasury Between 2012-13 - Sanusi by gameboy727(m): 11:50am On Dec 11, 2013
mrjingles: Let me get this straight, an amount of money higher than our ENTIRE foreign reserves is stolen or diverted in ONE YEAR and the country is still standing? Please lets not glorify stupidity in the name of "reporting"
The thing tire me ooo.
Re: NNPC Diverted $49.8B Meant For The Nigerian Treasury Between 2012-13 - Sanusi by jt2010: 11:55am On Dec 11, 2013
gondie: yeaaaa, come and lecture me man.
what is your name?
who is your father?
don't worry ASUU will call off the strike soon so that you kids can go play with your mates.


No need lecturing you, your past posts say a lot about you... undecided
Re: NNPC Diverted $49.8B Meant For The Nigerian Treasury Between 2012-13 - Sanusi by emcaluv(m): 11:56am On Dec 11, 2013
[i]OLODO. So NNPC lifted Crude worth $65billion (which is even probably d SELLING PRICE), remitted only $15bn and 'diverted' $50bn, yet d Federal, States and LGAs have been funding their budgets -with their their SALIVAR, shey?? Like I said una no sabi lie at all..... By d way, at an Average of 2million bpd and at a cost of an Average of $105, Nigerian Oil wud SELL for about $77billion a year. This is d Selling Price. If d Cost of producing and shipping d Oil by d Oil companies is subtracted, d resulting Difference is d SHAREABLE PROFIT. This Profit is then shared bw d Govt and d[b][/b][i] Oil Companies at an Average ratio of 60:40, and d Govt's share goes to d Federation Account to be shared bw d Tiers of Govt. The Amount of money due to d Federation Account every year from Crude Oil Sales wud be bw $30-$40bn (or less) every year. You mean d NNPC 'diverted' (whateva that means) $50bn of this money in 1.5yrs and Nigeria is still existing and budgets of All d 812 Govts in Nigeria(where Oil money constitute bw 60-70% of d budgetary Revenue) are still be ran?? I mean, I wud reali love for you to make all of these sensible, for if na small..[/i].[/i]



I wonder where your sense of reasoning has gone to. If you cannot believe the governor of Central bank then there is a problem. You can swallow every rubbish Abati and Doyin could spill out but when intellectuals reveal things, you don't believe. The only time i will exonerate you of this folly is if Sanusi denies this publication.

For your information, Nigeria sells an average of 2.5 million barrels of crude oil daily. This translates to 75 million barrel in a month and 900 million barrels yearly. The letter only revealed a fraction which is just 1 million barrels daily (594,024,107 in 19 months from Jan'12 to Jul'13). It has also been revealed that NNPC collects 500,000 barrels of Crude daily for refining (Swiss fraud connection). Government is sponsoring this oil theft to steal Nigeria dry. The information from Sanusi was based on 1 million barrels of crude daily as against 2.5 million barrels which is the official OPEC allocation for the country. I would have ignored your post but we need to get the records straight.

2 Likes

Re: NNPC Diverted $49.8B Meant For The Nigerian Treasury Between 2012-13 - Sanusi by laykhorn(m): 12:00pm On Dec 11, 2013
Nightshift: NNPC is perhaps the most corrupt government owned company in the world.
That company has over the decades, wasted so much money that could have brought happiness to many generations of Nigerians.
With good management, NNPC could have been a global player like Russian's Gazprom; making Nigerians proud and leading African nations in oil exploration technology. What a waste!
Exactly, I always wonder how Gazprom;a much more less fortunate and less opportuned oil company is recording more success and achievement including profit fledge with world renouned oil Incs like Total, Mobil, Shell, Chevron, etc and our NNPC has failed to make it beyond our shores. Corruption in NNPC Is so deep-rooted thatthey have the audacity to only release only 25percent of national revenue of almost 20months.

NIgeria is a failed system
Re: NNPC Diverted $49.8B Meant For The Nigerian Treasury Between 2012-13 - Sanusi by gondie: 12:03pm On Dec 11, 2013
Thanks for the observation.
It means you are not totally useless.
I'm not hypocritical like you dummies.
I stand for something and I'm proud of it.
go make yourself useful kiddo.

jt2010:

No need lecturing you, your past posts say a lot about you... undecided
Re: NNPC Diverted $49.8B Meant For The Nigerian Treasury Between 2012-13 - Sanusi by vislabraye(m): 12:36pm On Dec 11, 2013
FRAUD!!!! May God help us. Right from IBB, then Abacha came, OBJ did his own and GEJ is continuing from where he stopped.
Turn by Turn Nigeria Limited !!

1 Like

Re: NNPC Diverted $49.8B Meant For The Nigerian Treasury Between 2012-13 - Sanusi by Nobody: 12:59pm On Dec 11, 2013
What will he do than to set up a committee to look into it. No committee has ever produced justice!!! trash!!!!!!!! angry. This government makes me sick to my damn guts!!! angry
Re: NNPC Diverted $49.8B Meant For The Nigerian Treasury Between 2012-13 - Sanusi by donguutti: 1:03pm On Dec 11, 2013
And when people say nigerians are not intelligent we take offence.according to SLS ,total revenue frm oil is $65+ billion.

The fg and oil majors have 60:40 share so the total amount going to the federation account is $39 billion.of which $15 billion was recievd and another $28 billion was remitted as petroleum profit tax.the nnpc say productn figures are 5% higher than that given by the CBN.(To make up for the discrepancy).Oil sales data can be found on CBN website.nigeria has never producd 2.5mbpd in its entire history.

Does sanusi want shell,mobil,chevron etc to remit their share to the CBN.Is that logical.Free stuff is never valued especially free education.

2 Likes

Re: NNPC Diverted $49.8B Meant For The Nigerian Treasury Between 2012-13 - Sanusi by Nobody: 1:36pm On Dec 11, 2013
fijiano202: Okonjo-iweala is orchestrating,Madueke is Executing Jonathan is Looking,i love this failed Govt,they have turn us to all to mu-mu,the rich/govt are stealing heavily the poor are fighting themselves for ruins.Wait ooo,i can hear footsteps,the GEJ E-warriors are coming,got to hide....
Re: NNPC Diverted $49.8B Meant For The Nigerian Treasury Between 2012-13 - Sanusi by Bizibi(m): 1:43pm On Dec 11, 2013
mrjingles: Let me get this straight, an amount of money higher than our ENTIRE foreign reserves is stolen or diverted in ONE YEAR and the country is still standing? Please lets not glorify stupidity in the name of "reporting"
I wonder ooo,then is like saying the company is bankrupt and don't have money to run its affairs,50billion dollars in one yr....
Re: NNPC Diverted $49.8B Meant For The Nigerian Treasury Between 2012-13 - Sanusi by litetias(m): 2:09pm On Dec 11, 2013
Don't worry about it, its just money. Stop complaining, our messiah Jona will give us 24 hours power supply, no more ASUU strike, jobs for every graduate, no more corruption, every other thing, don't worry about a thing cos every little thing's gonna be all right. Fresh tornado. wink
Re: NNPC Diverted $49.8B Meant For The Nigerian Treasury Between 2012-13 - Sanusi by Abdogood(m): 2:34pm On Dec 11, 2013
omenka: Still finding it hard to wrap my mind around this figure. This is plain insane!


Bros no be only u ooooo.
This democracy is really choking us.
If this kind of money is missing then why should we be expecting the president to kum and present the 2014 budget. So sad for this country.
Re: NNPC Diverted $49.8B Meant For The Nigerian Treasury Between 2012-13 - Sanusi by lastmessenger: 3:24pm On Dec 11, 2013
kel4soft: Maybe is our turn to also take the spoils after years of neglect.
is that all that u have to comment? i can see you eating your own spoil on nairaland

1 Like

Re: NNPC Diverted $49.8B Meant For The Nigerian Treasury Between 2012-13 - Sanusi by whosefault(f): 4:36pm On Dec 11, 2013
which government is sanusi, is he not in jonathan government. this is the most transparent government in Nigeria since independence. Sanusi has complained according to sahara report; because sanusi didn't come out to write these words.
if this is true, it will be resolved.
Re: NNPC Diverted $49.8B Meant For The Nigerian Treasury Between 2012-13 - Sanusi by Afroconnect: 4:48pm On Dec 11, 2013
Are these people stashing so much money to run away and leave us good people of Nigeria to bear the wrath when it caves in...God forbid.
Nigerians we need to take back our country.
Re: NNPC Diverted $49.8B Meant For The Nigerian Treasury Between 2012-13 - Sanusi by Youngzedd(m): 4:52pm On Dec 11, 2013
This is the real figure according to today exchange rate.

7,900,770,000,000.00 Nigerian Naira.

How much is even 2013 budget

Am sick and tired of this country.
Re: NNPC Diverted $49.8B Meant For The Nigerian Treasury Between 2012-13 - Sanusi by mannobi(m): 6:18pm On Dec 11, 2013
ballabriggs: Ovoko! Ovoko!!! Ovoko!!!

President Jonafraud again. Every week we discover how another billions has gone untraceable.

One week, one fraud.
that is the daft president on throne
Re: NNPC Diverted $49.8B Meant For The Nigerian Treasury Between 2012-13 - Sanusi by lastpage: 6:36pm On Dec 11, 2013
Orlando Owoh: Gbogbo omo Nigeria, e ku ifarada.

That sounds like you are singing "PRESH HAIR"!!!

but Sanusi cannot just seat there and be writing letter after letter now, ...or is it a case of "who is fooling who"?

Where is Okonjo Iweala and that her other sister heading Petroleum Ministry!
Chei, Jonathan is selling us for phussy!

Aaah, my Brothers would soon turn this one to another "PDP Vs. APC" or "they hate us because we are Igbo" story! wink wink

Hmmmm.....Nigeria and Nigerians, l hail thee!

Lastpage
Re: NNPC Diverted $49.8B Meant For The Nigerian Treasury Between 2012-13 - Sanusi by lastpage: 6:39pm On Dec 11, 2013
Afro connect: Are these people stashing so much money to run away and leave us good people of Nigeria to bear the wrath when it caves in...God forbid.
Nigerians we need to take back our country.

Now, here is one Nigerian that really uses his God-given BRAIN! I salute you!! shocked shocked

While we are fighting ourselves, these looters that know no-tribe or political party , are "preparing" for what they know will eventually end the ... ....as Yorubas call it: They phuck-me dey-go"! angry angry

Lastpage!
Re: NNPC Diverted $49.8B Meant For The Nigerian Treasury Between 2012-13 - Sanusi by bankoleben(m): 6:55pm On Dec 11, 2013
taharqa: 'Making', not 'made' Sense I said. Biko, I cannot type unnecessarily. See d Comment from @TMidas I quoted and fully endorsed above.. And by d way, if you read my comment on d PT claim on d last page and if you hv any Sense, you wud be very circumspect at accepting any of these allegations without both criticali analysing it Or waiting for other Info esp counter ones from all sides.

Weldone Mr. I can see you defending your 'oga at the top' at all cost, whether right or wrong! In your eyes, your oga is always right, he's infallible!
Re: NNPC Diverted $49.8B Meant For The Nigerian Treasury Between 2012-13 - Sanusi by fairheven: 7:11pm On Dec 11, 2013
Ja
ogb5: If you believe this story then you must believe I am bill gates.

If jonathan can finance 2 yrs budget with only 15billion dollars then he his a magician.

Too many mumu on NL, see as Sahara reporters dey plait una head with lies.
A

Bro is crude oil sales the only source of revenue for naija? With custom an federal inland revenue alone we can finance our budget..so there is an element of truth in this report
Infact, it is 200billion dollars that is missing
Re: NNPC Diverted $49.8B Meant For The Nigerian Treasury Between 2012-13 - Sanusi by callmenow: 7:36pm On Dec 11, 2013
Successive Nigerian governments has never functioned optimally since the 70's. In most ministries, agencies and parastatals, staff with-hold information from other agencies and or bodies. This is caused by the structural defect of all personnel trying to report to the ultimate head or permanent secretary or even ministers. This has meant that information, no matter how trivial is 'secreted' and the gaps in information develops feeding jealousy and bitterness. Alas, the governor is not in loop of what goes on in the revenues of the country. It is not a big problem, if he had not fallen out with the CME, Dr Iweala who has all these information could have answered his questions diligently. Problem is that Sanusi claims that it is he that is saving Nigeria. CME, Madueke and even Jonathan does not think so. Of course there are leakages of crude export earnings through the people that work there. Sanusi has to eat a humble pie and make up with other heads of ministries and agencies/parastatals, otherwise he will continue to be a lame duck CBN governor. People in Abuja are counting down to his departure very shortly. They are looking at who is going to replace him ....
Re: NNPC Diverted $49.8B Meant For The Nigerian Treasury Between 2012-13 - Sanusi by teejan: 7:54pm On Dec 11, 2013
Sanusi knows what he is saying, how can you say that a man who has been CBN gov for over 4 yrs does not know the workings of the oil industry cash flow, its a blatant lie, the truth is that NNPC is trying to cover up.....Jonathan is just brainless, I can imagine that fat nosed dude drinking alo, o with Dokubo.......2015 is your deadline!

1 Like

Re: NNPC Diverted $49.8B Meant For The Nigerian Treasury Between 2012-13 - Sanusi by jaytee01(m): 8:03pm On Dec 11, 2013
They shoul look no further than the 2015 election warchest for the missing funds.
No be naija we dey?
Re: NNPC Diverted $49.8B Meant For The Nigerian Treasury Between 2012-13 - Sanusi by collinselixir(m): 8:56pm On Dec 11, 2013
fijiano202: Okonjo-iweala is orchestrating,Madueke is Executing Jonathan is Looking,i love this failed Govt,they have turn us to all to mu-mu,the rich/govt are stealing heavily the poor are fighting themselves for ruins.Wait ooo,i can hear footsteps,the GEJ E-warriors are coming,got to hide....
People only tell themselves what they want to hear, how is this report connected to Mr President as the mastermind behind the looting, if at all it is even true?
fijiano202: Okonjo-iweala is orchestrating,Madueke is Executing Jonathan is Looking,i love this failed Govt,they have turn us to all to mu-mu,the rich/govt are stealing heavily the poor are fighting themselves for ruins.Wait ooo,i can hear footsteps,the GEJ E-warriors are coming,got to hide....
People only tell themselves what they want to hear, how is this report connected to Mr President as the mastermind behind the looting, if at all it is even true?
Re: NNPC Diverted $49.8B Meant For The Nigerian Treasury Between 2012-13 - Sanusi by taharqa: 9:38pm On Dec 11, 2013
taharqa:

For those persons 'eating' this thrash, this is what the EDITORS of PT allowed through their 'Paper':

Their 'Analysis' was based on the Assumption of an Average Oil Sales of 2.11millionbpd and Average Price of $105 per barrel. According to them, using these figures for a 10 months period, Jan-Oct 2013, Nigeria 'Earned' (their very words) #10.6trillion from crude oil sales, while NNPC only remitted #5.8billion to the Federation Account within the period (so the difference of #4.8trillion has been 'STOLEN' or 'DIVERTED'); just as $17.3billion (#2.695trillion) was 'earned' as Excess Crude Oil, although the Govt remitted #986.6billion (so the difference #1.708trillion has also been 'stolen' or 'diverted')!!

Here was the Mathematics used:
--- 2.11millionbpd * $105 per barrel * 30days * 10months * #158= #10.5trillion Oil SOLD (equivalent in their own mind to money 'earned' by Nigeria).

--- 2.11mbpd * $26 Excess per barrel(ie $105- $97) * 30days * 10months= $16.5billion (approximately $17.3billion they used since am using 30days per month).

So PT wud have us believe that Crude Oil, at least the Nigerian Oil, just magically produces and sells itself just like that, kwa (maybe that's why it is called 'Sweet Oil')? PT wud have us believe that All the Oil Companies in Nigeria (Shell, Chevron, Total, Oando, Sahra Energy, ExxonMobil, Halliburton, NNPC itself, etc) are a bunch of Father Xmases who love Nigeria so much that they not only produce/sell our crude for us for FREE without adding the COST of production nor do they Share from the Oil sales. Such Wonderful set of Companies in deed!! May they be blessed, Always wink!!

OK, enough of Clowning around; lets get back to Reality now:
When a Country produces and sells Oil to the International market, the money that buyers pay (like the #10.6trillion above) is just the SELLING PRICE. There is a COST associated with producing and selling every barrel of Oil sold (Cost of Exploration, Licensing, Exploitation, Producing, Storage, Transportation, Running cost, Labour, buying of sophisticated Equipment/Platforms, Insurance, Security, etc, etc, etc). This COST is subtracted from the SELLING PRICE; the Resulting Difference been the SHAREABLE PROFIT. It is only this PROFIT that is SHARED bw the Govt and the Oil Companies in the ratio 70/60: 30/40 (depending on the JV partnership). Govts share then goes to the Federation Account. This is the SUM that the producing country truly EARNS.

Now, the very 1st question that immediately comes to mind is how the helll is PT Editors unaware of this ELEMENTARY stuff such that they went ahead to make weighty allegations based on a premise that is sooooo Wrong, and easily so too?? But the Truth is that they KNEW. This was no mistakes nor was it an oversight. They knew EXACTLY what they were/are doing. These are not a group of OLODOS (like some Clowns here, some of whom have already commented foooolishly already); these are Smart Guys, albeit with severely flawed Characters. So also knew they were going to be caught easily at least by a few critically-minded persons, SO WHY DID THEY STILL DO IT.

Well, for same reasons an 'OLODO' Senator (he also knew exactly what he was doing too) from the North and an APC member (or Prospective member) recently publicly said that #500billion Subsidy money was 'missing', even after he admitted that #300billion was received by the FG out of the total possible Sum of #800billion, and had papers showing that the FG only receives 41% of the SURE-P funds whilst States, LGAs and Ecological fund receives the remaining 59% (and 59% of #800 is approximately #500billion, the same amount he declared 'missing'). He also knew by the way that States and LGAs, including his own, have ALL religiously received their share of the money every month at FAAC meeting, YET he went ahead to make the allegations and it initially made headlines!!!

Same reasons Ameachi said that $5billion was 'missing' from the Federation Account when the same Amaechi had been leading the charge by Govs to share out the monies in the Excess Fund. When Okonjo-Iweala finally confronted him the #54billion he Amaechi had collected as the Exact share of Rivers State's part of the 'missing' $5billion Excess Fund, he waited like 4 days b4 responding and saying 'yes we received the #54billion share' (in other words, there was No 'missing' $5billlion) but said that they did not know that the #5554billion they received came from the Excess Fund (Imagine that!!!!). Amaechi knew the truth from the start and also knew he will caught red-handed, But still he did it and made Headlines!!

Why would these people go to such an extent to stream HUGE Headlines, when they knew that they would be caught relative EASILY since premises are so 'obviously' lousy? Why do they want to make the Screaming Headllines? Why??

Did I hear words like DESPERATION, POWER MONGERING, HYPOCRISY, etc etc etc..... Maybe, you may not be so far off then.

*UPDATED*
Re: NNPC Diverted $49.8B Meant For The Nigerian Treasury Between 2012-13 - Sanusi by willibounce: 11:34pm On Dec 11, 2013
These are the same corrupt bas..t.ar.ds tht d crazy ben bruce of STV will put up for nomination as Man of the year.

This country is full of sh.it.
Re: NNPC Diverted $49.8B Meant For The Nigerian Treasury Between 2012-13 - Sanusi by Nobody: 1:15am On Dec 12, 2013
We deserve everything we're getting.
Re: NNPC Diverted $49.8B Meant For The Nigerian Treasury Between 2012-13 - Sanusi by EagleNest(m): 8:58am On Dec 12, 2013
Corruption cannot fight corruption. Impunity is the order of the day. Not sure it has been this bad before. Somebody help!
Re: NNPC Diverted $49.8B Meant For The Nigerian Treasury Between 2012-13 - Sanusi by trovert: 11:46am On Dec 12, 2013
5thNOTE: very true! Assuming in the time of OBJ, $49B was nt missing, which shows D möney was there, what Did OBJ do with D money? If it was nt also given to Obj, is that nt D same trend now, then how many of u bigots called 4 Obj's removal? In Yar Adua's time, if such or like that amount was remitted to him, were are D achievement of such money. Abi such money is too small to do things visble in D south to north?
SHORT UP..U THIS FOOLISH SYCOPHANT..WE RE TALKING OF GOODLUCK JONATHAN NOT OBASANJO...MTCHEEEW










I HATE ALL THESE GEJ APOLOGIST..CAN'T U JUST BE OBJECTIVE FOR ONCE

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