Welcome, Guest: Register On Nairaland / LOGIN! / Trending / Recent / NewStats: 3,194,497 members, 7,954,907 topics. Date: Saturday, 21 September 2024 at 12:12 PM |
Nairaland Forum / Nairaland / General / Politics / Missing $49.8 Billion: Sanusi Makes U-Turn (1069 Views)
Over Alleged Missing $49.8bn Oil Money: Sanusi Says ‘i’m Sorry’ / The Meeting Between CBN And NNPC Over Missing $49.8 Ended in Deadlock Last Night / Senate Probes Alleged Missing $49.8 Billion (2) (3) (4)
Missing $49.8 Billion: Sanusi Makes U-Turn by ceo4eva: 5:43pm On Dec 18, 2013 |
ABUJA — CENTRAL Bank of Nigeria, CBN Governor, Sanusi Lamido Sanusi, Wednesday, reversed himself from his initial declaration that the sum of $49.8 billion realized from the sales of crude oil between January 2012 and July 2013 and expected to be remitted to the federation account by the Nigerian National Petroleum Corporation, NNPC, was missing. Instead, he said $12 billion was the amount discovered not to have been remitted to the account within the period just as he regretted that his communication to the president was leaked to the public. Sanusi, who stated this when he appeared before the Senate Committee on Finance, to give insight into his letter he wrote to the president on the controversial missing money, said the letter did not indicate that the CBN had concluded its investigation on the matter. But the Minister of Finance, Mrs Ngozi Okonjo-Iweala, countered the CBN Governor’s position, saying: “I just wanted to add that we found about $10.8 billion. He mentioned $ 12billion.” Insisting that the letter was meant for the president to launch an investigation into the issue, Sanusi told the committee’s chairman, Senator Ahmed Makarfi: “I repeat, Mr Chairman, that we did not see the letter as a conclusion of our investigation but an invitation to investigate. So, the conclusion that $ 49.8billion was missing was wrong even though we had the allegation that it was unremitted.” “Now, since then, a lot has happened. We have heard the Minister of Finance, Minister of Petroleum Resources, Central Bank, FIRS, CPR, we have set up technical team and has started a process of reconciliation and there has been a lot of progress in that process. “I found it very unfortunate it was leaked to the press and the answer is ‘yes’, the CBN Governor did send that letter with those contents. By way of those contents, the Central Bank and Finance Ministry and the government were very much concerned over the years at the very low rate of accretion to the reserves in spite of very high level of oil prices and in particular, depletion of excess crude account in spite of what seems to be very high level of oil sales. “Now, in investigation and trying to understand where those leakages were, our attention was drawn to a huge difference between what appeared to be export of crude made by NNPC and amount repatriated into the crude equity account of the federal government. “The numbers were about $65 billion exported by NNPC and about $15 billion repatriated to Federation Account out of that. Now, in view with our duty as the banker of the government, we had the responsibility of alerting the president and request a thorough investigation of this matter, he said. He further explained that “the major progress has been the provision of Monetary Policy Committee, PMC, by the MPC documents to show that even though they did ship that amount in question which is a little more $67 billion, about $24billion was actually not their crude but crude shipped on behalf of third parties like oil companies, tax in crude and also for third party financing and so, that already addresses half of the amount.” “So, the second half is the issues around domestic crude lifting of $ 28billion from which we feel there is a short fall, there is a general consensus among us on this even though the amount has been disputed. For us in Central Bank, there is a shortfall of $12billion”, he disclosed. But even with the amount, he said the CBN was still in the process of reconciling the amount. “Now, we still are in the process of trying to reconcile that number and we have not even started talking of the sales, the export sales tax, which is about $2billion, which will come after the sales. The Finance Ministry has told us that even before now, there is ongoing negotiation and discretion with NNPC ad-hoc committee and these numbers have always been discussed at the level of Commissions of Finance. “Since the objective of this committee and for all of us on this side is actually to get to the bottom of it and find out exactly what is the amount unremitted and what is to be done and recommend actions.” He pleaded for time so that the CBN, NNPC and all relevant agencies come up with a collective figure. “What I would like to do is, given the progress we have made, to request that we be given little more time to continue with this process and come back with the final position that is a common position among us if the committee will so grant us, ”he added He was subsequently granted the request. Speaking at the event earlier, Senate President, David Mark,noted that the controversial amount was still allegation but stressed that it was a serious one. “At this point what we have is allegations but it’s a serious allegation. When Senator Adetumbi raised the point of order, I did not allow comment on the issue “It’s for us to get facts so that when we come back we can make useful and meaningful contributions. The Senate has no positions on it, nobody knows apart from what was published in the papers, that’s why we want the committee to establish the facts, the committee, your body language and utterances must be seen to be totally neutral because we have no facts, we have no position on it, we urge you to observe the facts, “he said. http://www.vanguardngr.com/2013/12/missing-49-8-billion-sanusi-makes-u-turn/
|
Re: Missing $49.8 Billion: Sanusi Makes U-Turn by WilyWily8: 5:49pm On Dec 18, 2013 |
Sanusi have mental problem |
Re: Missing $49.8 Billion: Sanusi Makes U-Turn by superstar1(m): 5:51pm On Dec 18, 2013 |
The primary thing is money is missing |
Re: Missing $49.8 Billion: Sanusi Makes U-Turn by Nobody: 5:59pm On Dec 18, 2013 |
Wily,Wily:and u tink u dnt av |
Re: Missing $49.8 Billion: Sanusi Makes U-Turn by WilyWily8: 6:01pm On Dec 18, 2013 |
phantonce:yes |
Re: Missing $49.8 Billion: Sanusi Makes U-Turn by Nobody: 6:04pm On Dec 18, 2013 |
He will still recant again. He will go to jail after tenure in June, 2014. |
Re: Missing $49.8 Billion: Sanusi Makes U-Turn by tempest01(m): 6:08pm On Dec 18, 2013 |
no matter how much is missing, our money is missing...and they should find it.. |
Re: Missing $49.8 Billion: Sanusi Makes U-Turn by babytoun: 6:10pm On Dec 18, 2013 |
superstar1: The primary thing is money is missingThe primary thing is either SLS, is playing politics or does not know his JOB. its his usual pride that's making it difficult for him to admit clearly. |
Re: Missing $49.8 Billion: Sanusi Makes U-Turn by DonColz1(m): 6:23pm On Dec 18, 2013 |
sanusi is truly confused |
Re: Missing $49.8 Billion: Sanusi Makes U-Turn by Amanwulu1(m): 6:27pm On Dec 18, 2013 |
Watching. |
Re: Missing $49.8 Billion: Sanusi Makes U-Turn by superstar1(m): 6:29pm On Dec 18, 2013 |
babytoun: What is the pride in 1.9trilllion missing. That is a whooping 12bn dollars. So to GEJ. And his sycophants that is not money. Na wa o |
Re: Missing $49.8 Billion: Sanusi Makes U-Turn by olabukola: 6:30pm On Dec 18, 2013 |
This warrants a sack letter. If the cbn governor can't not verify figures before going public, that clearly shows he is not worthy to occupy that seat. |
Re: Missing $49.8 Billion: Sanusi Makes U-Turn by babytoun: 6:39pm On Dec 18, 2013 |
superstar1: So someone that told you only yesterday that $49 billion was missing comes stubbornly/shamelessly to now say its $12billion and gullible people still find it difficult to question his integrity. you just swallow like an "okada rider" . please please. The head of the country's apex bank goes political with a claim of $49billion missing in 1 year, when basic SSCE economics would have cautioned him that in the context of circular flow of income, this would not have been possible without every aspect of the economy taking a serious hit. A sound economist, even if shamefully he does not know the "crude oil arithmetic" would have asked whoever gave him this report to unravel important facts before exposing himself. 2 Likes |
Re: Missing $49.8 Billion: Sanusi Makes U-Turn by theoctopus: 6:41pm On Dec 18, 2013 |
superstar1: Shut up@! Just shut it! Get it into your thick skull! There is nothing missing. In fact, the only thing missing is Sanusi's brain and your common sense! He should be fired ASAP! He is not just incompetent, he is playing politics with his position. He has to go! 2 Likes |
Re: Missing $49.8 Billion: Sanusi Makes U-Turn by JECBOSS: 7:32pm On Dec 18, 2013 |
.....nawaa...but 1.9 trillion no be small money na.. |
Re: Missing $49.8 Billion: Sanusi Makes U-Turn by Nobody: 7:47pm On Dec 18, 2013 |
A few days ago I found myself describing the political leanings of different newspapers/online media on another thread. I was convinced that I had them all figured out, so it is pleasure to get some confirmation, again, from NewsExpress National Mirror - Pro OppositionSource: https://www.nairaland.com/1555605/list-major-nigerian-news-media#20224284 |
Re: Missing $49.8 Billion: Sanusi Makes U-Turn by Nobody: 7:47pm On Dec 18, 2013 |
Clearly indifferent to @OP's title, these folks have gone with a pro-Sanusi slant Never a dull moment...
Source:http://www.newsexpressngr.com/ |
Re: Missing $49.8 Billion: Sanusi Makes U-Turn by superstar1(m): 7:53pm On Dec 18, 2013 |
babytoun: So because he was man enough to admit error and tell us the actual amount, that was nearly the total of what we mad during Gulf war of the 90s, we should now forget about the missing money. What a reasoning. So 1.9trillion naira is a child's play. Well, the truth is, the Mandela of Otuoke cannot touch him and the truth is also, money is missing under our clueless Mandela,s nose. |
Re: Missing $49.8 Billion: Sanusi Makes U-Turn by superstar1(m): 7:54pm On Dec 18, 2013 |
theoctopus: You are just a rabid dog, barking here and there. Read what you wrote. If that made sense, then your brain is at par with that of cockroach. |
Re: Missing $49.8 Billion: Sanusi Makes U-Turn by ceo4eva: 8:06pm On Dec 18, 2013 |
Missing $ 49.8 billion: Sanusi Makes U-turn http://www.vanguardngr.com/2013/12/missing-49-8-billion-sanusi-makes-u-turn/ |
Re: Missing $49.8 Billion: Sanusi Makes U-Turn by Princess2be(f): 8:42pm On Dec 18, 2013 |
olabukola: This warrants a sack letter. If the cbn governor can't not verify figures before going public, that clearly shows he is not worthy to occupy that seat. |
Re: Missing $49.8 Billion: Sanusi Makes U-Turn by Olastep(m): 8:45pm On Dec 18, 2013 |
Kilode sef |
(1) (Reply)
What Happened With BringBackOurGirls Campaign? / Osun 2014: Clampdown Begins As Sss Shuts Down Rms Office Over Osun Poll On The “ / Aren't Kidnapped Chibok Girls Used As Suicide Bombers?
(Go Up)
Sections: politics (1) business autos (1) jobs (1) career education (1) romance computers phones travel sports fashion health religion celebs tv-movies music-radio literature webmasters programming techmarket Links: (1) (2) (3) (4) (5) (6) (7) (8) (9) (10) Nairaland - Copyright © 2005 - 2024 Oluwaseun Osewa. All rights reserved. See How To Advertise. 50 |