Accusations and counter-accusations are trailing the account secretly owned in J.P. Morgan. Yesterday, the Nigeria National Petroleum Corporation (NNPC) disowned the controversial account.

NNPC Group Executive Director (Finance) Mr. Bernard Otti told the joint Senate Committees on Petroleum Resources (Downstream), Appropriation and Finance investigating the management of the fuel subsidy scheme that J. P. Morgan Account was opened by the Central Bank of Nigeria (CBN) on its behalf in 2002.

The CBN had earlier told the committee that the secret account was opened and solely managed by the NNPC.

But Otti told the committee that the CBN is the sole signatory to the account.

Finance Minister Dr. Ngozi Okonjo-Iweala on Monday said her ministry had no hand in the account.

Though Mrs. Okonjo-Iweala told the committee that she is aware of the account, she denied knowledge of its details, including the number.

NNPC Group Managing Director Andrew Yakubu told the committee that the CBN owns the account.

Committee chair Senator Magnus Abe compelled Otti to appear before the committee to clarify the status of the account.

Otti claimed that the CBN operates the account on behalf of NNPC “right from the outset when the account was opened in the United States”.

He said: “The NNPC has no direct contact with the J.P. Morgan account. The account was opened by the CBN on behalf of the NNPC. It was opened in the last quarter of 2002 by the CBN for NNPC.

“The account is operated by NNPC in the CBN. CBN has its correspondent banks to which NNPC isn’t a party. NNPC doesn’t operate that account; NNPC operates domiciliary account with CBN.”

Asked to be definite if the NNPC or the CBN operates the account and whose money is paid into it, Otti said:

“The money paid into the account is crude (oil) money of Nigeria . We are not party to that transaction. Our relationship with the CBN accounts begins and terminates with that account.”

Otti said the CBN is the only signatory, such that the NNPC is not even on the account mandate.

He insisted: “The CBN is the signatory to that account. We have no relationship with J. P. Morgan whatsoever. We are not in the mandate.”

The committee vowed to ensure that accounts not known to the Constitution are closed and all monies paid directly into the Federation Account.

http://www.channelstv.com/2012/07/02/senate-committee-discovers-illegal-nnpc-account/


https://www.youtube.com/watch?v=ugOjxv7EMD4
CBN has denied operating it,Finance Ministry and NNPC. This account has a sole signatory which points to specific person. Mohammed Buhari had mentioned this same fact about this secret account a few weeks ago.

http://www.punchng.com/news/nnpc-denies-keeping-two-accounts/

Ehm..OP..I acknowledge the fact that we all want goodluck not to come back nd wen I mean all I mean all...some choose GMB because he just in APC although he is not a better candidate and some choose GEJ not because dey want to but in the scale of preference GMB is far older nd his ideas are into the pervious century....but let me clarify that using slanderous post on nairaland would not make the winner or the looser..you knew the video does not link up with Goodluck and yet ur title is clearly saying the opposite..this is mene mene tekel part 2 na...if we wnt GMB we gonna vote him if no the GEJ...

They have come again.

Another saharareports ... GEJ till 2019!!!

Peoples' Deceptive party

nzeaji:
They have come again.

Watch the video and explain to me why NNPC,CBN and Ngozi Iweala have denied any knowledge of how this secret account is operated and money spent. It has a sole signatory to the account, could you also explain why Goodluck Jonathan operates an unconstitional secret account?

Mehn diz harmattan breeze just dey blow GEJ yansh open iswear

GMB till 2019

An account open in 2002 when jonathan was no where in d presidency is now his secret account? shame on u op
This ur tittle is very misleading

alberto2k:
Mehn diz harmattan breeze dey blow GEJ yansh open walie

GMB till 2019

Seriously

Land of impossible possiblities if there is a word like that.

The frog eye woman does not know such account exist? and to even say the self acclaimed righteous ex CBN governor supervised this but could not make a comment about it rather than 20 billion, 40 billion say much about the few people we commit our resources in their care.

temitemi1:
Another saharareports ... GEJ till 2019!!!

If you watched the Video,you will see that Ngozi Iweala acknowledged the existence of the account and she does'nt know how it's operated and any details on this secret account.

Kennywills7:
An account open in 2002 when jonathan was no where in d presidency is now his secret account? shame on u op
This ur tittle is very misleading

This unconstitutional secret account was still operated by Goodluck Jonathan thats why the Senate did an investigation. It's a slush fund for Goodluck Jonathan to spend how he pleases without any accountability.

But wait o, if the money goes to federation account, no be still jona be the signatory?

Btw how much was in there @op

otbliz:
But wait o, if the money goes to federation account, no be still jona be the signatory?

Btw how much was in there @op

Nobody knows how money or how the account is operated even Ngozi Iweala. The money from crude sales first goes into the JP Morgan account,then is paid into the Federation Account by the Sole signatory.

Account was opened in 2002. CBN opened account on behalf of NNPC. CBN has the signatory to the account. How come it's GEJ secret account? What a dunce you are! That committee has been there since legislation, how come they didn't discover it before now? Silly OP .

BedLam:
Account was opened in 2002. CBN opened account on behalf of NNPC. CBN has the signatory to the account. How come it's GEJ secret account? What a dunce you are! That committee has been there since legislation, how come they didn't discover it before now? Silly OP .

Did'nt you read the report? CBN also denied it operates the account along with NNPC and Finance Ministry. Did'nt they teach you reading comprehension in school?No one is claiming ownership of the account or details of how it operates,but the existence is aknowledged. Mohammed Buhari mentioned this secret account a few weeks ago.
http://www.punchng.com/news/nnpc-denies-keeping-two-accounts/

Mr Seun Osewa, you are directly and indirectly contributing to creating chaos and heating uP the Polity of the nigerian Political sPace. If you can not call your moderators to order or make sure you verify all information being Posted here before releasing to the Public, then I will be left with no choice than to rePort you to the relevant govt security agencies for necessary action.

You have no right to allow your forum to be used to defame and insult the Personality of President goodluck jonathan aand the office he occuPies with false and unverifiable information. This violent Practice must stoP now that the Political environment is becoming hyPer-active.

Free the guy, just vote him out. Who wldnt av a secret account amongst us if we get there, uh?

mobuch:


Mr Seun Osewa, you are directly and indirectly contributing to creating chaos and heating uP the Polity of the nigerian Political sPace. If you can not call your moderators to order or make sure you verify all information being Posted here before releasing to the Public, then I will be left with no choice than to rePort you to the relevant govt security agencies for necessary action.

You have no right to allow your forum to be used to defame and insult the Personality of President goodluck jonathan aand the office he occuPies with false and unverifiable information. This violent Practice must stoP now that the Political environment is becoming hyPer-active.

Absolute rubbish!This is from a Senate investigation into the matter I posted the article and the video from the Senate hearing. You have sold your conscience and don't like the truth.

mobuch:


Mr Seun Osewa, you are directly and indirectly contributing to creating chaos and heating uP the Polity of the nigerian Political sPace. If you can not call your moderators to order or make sure you verify all information being Posted here before releasing to the Public, then I will be left with no choice than to rePort you to the relevant govt security agencies for necessary action.

You have no right to allow your forum to be used to defame and insult the Personality of President goodluck jonathan aand the office he occuPies with false and unverifiable information. This violent Practice must stoP now that the Political environment is becoming hyPer-active.

Why your blood dey hot?
Or are you the signatory to the said account?

Dem never beat drum you don dey dance.

LRNZH:


Why your blood dey hot?
Or are you the signatory to the said account?

Dem never beat drum you don dey dance.

He's a Joker!This GEJ supporters hate the truth,something Mohammed Buhari mentioned a few weeks ago and was also under investigation by the Senate is what he's saying is unverified.

Shame on the OP; you are on your own.

alberto2k:
Mehn diz harmattan breeze just dey blow GEJ yansh open iswear

GMB till 2019

Stealing is not corruption

otokx:
Shame on the OP; you are on your own.

Dispute any of the facts I posted.I posted both video and written evidence of the Senate hearing where Ngozi Iweala and GMD of NNPC testified.

seges:

Nobody knows how money or how the account is operated even Ngozi Iweala. The money from crude sales first goes into the JP Morgan account,then is paid into the Federation Account by the Sole signatory.

Do u know its possible he is not even aware of dis account?
from all indications obj owns d account it was his regime dat open it

Kennywills7:

Do u know its possible he is not even aware of dis account?
from all indications obj owns d account it was his regime dat open it

How will the President not know about an account all crude sales running into billions of dollars are paid into before it gets paid to the Federation account? The fact it has a sole signatory to the account shows the President is the accounts signatory. Yes, it was started by OBJ and Goodluck Jonathan continued with this unconstitutional and illegal accont that no one in CBN,NNPC and Finance Ministry has any knowledge or details of how it operates. If Muhammed Buhari knows about this account,how will the President not know?
http://www.punchng.com/news/nnpc-denies-keeping-two-accounts/

seges:

This unconstitutional secret account was still operated by Goodluck Jonathan thats why the Senate did an investigation. It's a slush fund for Goodluck Jonathan to spend how he pleases without any accountability.

Apc are very gud at manipulating tins
i wont b surprise if this is another propaganda of d apc especially wen d man at d centre is magnus abe
Dat guy is a great manupulating agent of apc

otokx:
Shame on the OP; you are on your own.

Do you watch the video atal?talkless reading!use ur brain abeg.

seges:

Dispute any of the facts I posted.I posted both video and written evidence of the Senate hearing where Ngozi Iweala and GMD of NNPC testified.

You and seun will sOon have a date with the sss to exPansiate and give evidences on your allegations, you both would be surPrised at how you will be smoked out of your hide outs.

Who operates the account? Who was its last signatory? When last was transaction done? Who is the person? Who is he working for? We need to get transaction details of the accounts to verify whether the Ministries of Finance and Petroleum, NNPC, CBN or the President were the operators. Senate should get help of experts, we must get to the root of the matter. Muhammadu Buhari said this sometime back, he has been vindicated.

seges:

Dispute any of the facts I posted.I posted both video and written evidence of the Senate hearing where Ngozi Iweala and GMD of NNPC testified.

You don't deserve a response but let me spare some MB to ask you why an account that was opened by OBJ in 2002 which none of you didn't bother questioning, still in operation during Yar Adua and till now is being blamed on GEJ?.
The best you should have done to be justified is to say Secret NNPC account uncovered without linking it to GEJ.
Same way all Nigeria woes caused since 1960 by your OBJ, Gowon, IBB, Shagari, Abdusalam, Abacha and even Shonekan is blamed on GEJ today as if he is a magician that should solve it all within 6 years.
Shm