sweetguy26:
Do you read at all?

MizMyColi:


Please what's the link to download the document?

sweetguy26:
Do you read at all?

dutchjongen:
Nigerian Petroleum Developent company(NPDC) and CBN refused to open their financial statement to PWC.SO the report is dead on arrival,another audit has to take place. It has no credibilty go to premium times and read the audit. NNPC is the definition of corruption here are some excerpts from the report:
" We requested for meetings and information from the Central Bank of Nigeria (“CBN”) but were not granted access to nor given the
requested information by the CBN"page 196
" We requested for meetings and information from the Nigeria Petroleum Development Company (“NPDC”) but were not granted access to nor given the requested information by the NPDC"page 196
"The procedures we performed did not constitute an examination or a review in accordance with generally accepted auditing standards or attestation standards. Accordingly, we provide no opinion, attestation or other form of assurance with respect to our work or the information upon which our work was based"
The audit is therefore null and void and a new one has to be undertaken with full access to CBN accounts and NPDC
http://www.premiumtimesng.com/docs_download/Full%20report--20billion%20dollars%20missing%20oil%20money.pdf
[size=16pt]This report has further justified Buhari desire to Probe NNPC [/size]

Obiagelli:
From this report, 67 billion dollars was generated in the year 2012- 2013 while the NNPC remitted 47 billion dollars giving us a shortfall of 20 billion naira. Sanusi was right.
I personally feel we lost a gem to kano.

The NNPC claimed it spent the money on subsidy of petrol and kerosene, with kerosene payment @ 1.2 trillion naira (when did we ever buy kerosene @ 50 naira per litre)

Based on the work conducted by our team from the commencement of this mandate up until 29
January 2015, our conclusions are as follows;
 Total gross revenues generated fromFGN crude oil liftings was $69.34bn and NOT
$67 billion as earlier stated by the Reconciliation Committee for the period from January
2012 to July 2013.
 Total cash remitted into the Federation accounts in relation to crude oil liftings was
$50.81bn and NOT $47bn as earlier stated by the Reconciliation Committee for the period
from January 2012 to July 2013.

Obiagelli:
From this report, 67 billion dollars was generated in the year 2012- 2013 while the NNPC remitted 47 billion dollars giving us a shortfall of 20 billion naira. Sanusi was right.
I personally feel we lost a gem to kano.

The NNPC claimed it spent the money on subsidy of petrol and kerosene, with kerosene payment @ 1.2 trillion naira (when did we ever buy kerosene @ 50 naira per litre)

Obiagelli:

Yes i read non cooperation from the NNPC with PWC, i read cases of no invoice, i read fraudulent kerosene subsidy payment.

Obiagelli:

Yes i read non cooperation from the NNPC with PWC, i read cases of no invoice, i read fraudulent kerosene subsidy payment.

Obiagelli:
Page 105 No supporting documents were provided for the
$0.25billion claimed as NPA Charges

Xetima:


[size=28pt]Even if you are so poor in arithmetic, you could have asked for help before exposing your ignorance to the whole WORLD.

THOUGHT THIS MONIKER WAS SMART!!![/size]

modath:
there is an estate currently under construction named "RIVER PARK" on airport rd Abuja that is rumoured to be owned by our our lord emperor and empress, if the rumour is proven to be the truth, at least $5bn of the stolen NNPC funds is right there.

sweetguy26:


Yes. There is corruption in the NNPC but that doesn't mean that Sanusi was right. Sanusi LIED. NO MONEY WAS MISSING!

omenka:
I still believe this report was even watered down.

Hope Alawson Madukeke is still in down.

sweetguy26:


Yes. There is corruption in the NNPC but that doesn't mean that Sanusi was right. Sanusi LIED. NO MONEY WAS MISSING!

Mynd44:

He said 20 billion was Missing.

The problem is what that missing money was spent on and from the report of this audit, a large part of the money was actually stolen.

sweetguy26:


Yes. There is corruption in the NNPC but that doesn't mean that Sanusi was right. Sanusi LIED. NO MONEY WAS MISSING!

Obiagelli:

This report is for one year o. How much did these people steal. I would like an audit of how subsidy payment jumped by over 100% in 2011

sweetguy26:
Do you read at all?

NNPC generated 69 billion dollars
They spent 16 billion dollars on operational cost, expenses and subsidies

They remitted 50 billion dollars to FAAC

only two billion dollars was not remitted