Silent On $3.09 Billion ‘Missing’ NNPC Money Under Buhari?
By Opinions | The Trent - Nov 4, 2015 1

Nigerian President Muhammadu Buhari attends the second day of the summit of G7 nations at Schloss Elmau on June 8, 2015 near Garmisch-Partenkirchen, Germany | Sean Gallup/Getty Images

Dear Comrade Governor,

I am writing to you because you are the most vocal member of the committee set up by the National Executive Council to probe Nigerian National Petroleum Corporation (NNPC) remittances and the oil sector. I have a few observations from the NNPC I want to bring to your attention.

1. The total export crude oil and gas receipt for the period of January to September 2015 is $3.69 billion. “Of the total receipts, ONLY the sum of $0.61billion was remitted to Federation Account. Sir as you well know, and according to the “comrade law”, and further backed by the “SLS Principle” – cash not remitted to the Federation account is MISSING. Thus, the balance of $3.09 billion is missing. Again for emphasis, sir, three billion United States dollars.

2. Since the month of April 2015, NNPC has made ZERO remittance of proceeds of export crude sales to the Federation accoun. Again, sir… ZERO REMITTANCE

3. NNPC loss position as at September 2015 is N336 billion.

4. Payment for subsidy has increased, yes sir, it has increased from N231 billion to N249 billion. Note, sir that oil prices have fallen, and have remained low, yet subsidy has increased. Sir, again note that Vanguard reports on November 4, 2015 that the total FGN indebtness to oil marketers is N470b. Vanguard states that NO subsidy has been paid since August 1 2014. Yes, 2014. Yet NNPC says “subsidy payments have increased”. Sir, I post the said report below.

5. ONLY Port Harcourt Refinery refined any petroleum products. The refinery operated at 5% capasity. Sir, these facts are all contained in the NNPC Monthly report for September as published. I trust you will deal with this information in the same dispatch you alerted the nation on the “missing funds” from the excess crude, the “billions” paid for consultancy on Second Niger Bridge, and “the missing pension funds”.

I trust you will not disappoint.


http://www.thetrentonline.com/soundoff-why-so-silent-on-3-09-billion-missing-nnpc-money-under-buhari/

Wetin be my own .

Proudly Biafran

You won't hear about those irregularities and missing money because those who accuse others of corruption are the ones who are cornering and benefitting from this stealing.

The BIGGEST criminals (APC) are in the helm of affairs in this confuse country.

He's on vacation at Oba's shrine in Benin... Enjoying the loan he got from world bank with Iara

Also, why are the "Bring Back Our Girls" campaigners so silent.

nnachukz:
You won't hear about those irregularities and missing money because those who accuse others of corruption are the ones who are cornering and benefitting from this stealing.

what a thrash. I can't even understand d trash, plssssss can someone help explain in better perspective? Because d op did not make common sense

He is getting ready to visit the EFCC......

Thetrentonline is a known PDP propaganda media outlet. So no surprises here. Well, maybe a bit surprised, because it took them this long to start throwing figures from their figment of imagination

Jesusloveyou:
what a thrash. I can't even understand d trash, plssssss can someone help explain in better perspective? Because d op did not make common sense

You don't understand it and yet you called it a trash. Are you confuse or high on Alomo and Alabukun? the fact that you may be an indirect beneficiary of the scheme or looking for a reason to be popular doesn't mean you should condemn those facts.

Jesusloveyou:
what a thrash. I can't even understand d trash, plssssss can someone help explain in better perspective? Because d op did not make common sense

u cant understand becos common sense isn't common smh.......

Rubbish.

[size=14pt]TRENTONLINE[/size]

A lie churning online machinery created by a staunch TANOID after GEJ was booted out and which has one and only one objective, 'To denigrate PMB' by hook or by crook. They dont even have even the tiniest wisdom at least to sugarcoat some of their lies a bit to make it sound true.

Only desperate wailers and Jonathanians fall over themselves in their frustration to take such trolls seriously.

We are not asking for too much.
We are only asking APC to fulfill their promise.
The promise wasn't made at gun point.
OH! #Our5K

Jesusloveyou:
what a thrash. I can't even understand d trash, plssssss can someone help explain in better perspective? Because d op did not make common sense

Sanusi claimed that $20bn was missing. The figure was derived from the difference between total oil sales and the amount remitted to the FG. By that logic, $3bn is now missing and should be accounted for.

I alluded to Sanusi's mischief in an earlier post:

The truth of the missing $20bn is hiding in plain sight. If I recall correctly, the figure was derived from the difference between total NNPC oil export proceeds and the amount remitted to the federation account. The $20bn will include NNPC joint venture commitment and its operational costs which it deducted before remitting the balance of the proceeds. So most of it is not actually stolen and I know Sanusi was being disingenuous. He did at one point go for the even more sensational figure of $49bn which he calculated by multiplying crude oil prices by number of barrels produced. 

As always the proponents of the broom will hide in the recesses of the abyss of reason and not touch this thread...

Ok well some will touch this thread. The most foolhardy and naive of them... read some of the posts above for clarification.

no money

4Play:


Sanusi claimed that $20bn was missing. The figure was derived from the difference between total oil sales and the amount remitted to the FG. By that logic, $3bn is now missing and should be accounted for.

I alluded to Sanusi's mischief in an earlier post:

did anyone tell u $3b is missing, that is why i said d op did not make common sense

saint047:
We are not asking for too much.

We are only asking APC to fulfill their promise.

The promise wasn't made at gun point.

OH! #Our5K

d promises has already be met, is now left for d masses to comply, obey law and order, register ur kids in school for free meal, d unemployed youth should get their bvn to be receiving their allawe as from next year. All d promises wil be caption in 2016 budget