I thought there was new evidence counteracting Baru's submission and Kachikwu's clarification! What's all these mumbo jumbo? Bunch of educated illiterates!
Throwback: I read this article, yet I see nothing tangible mentioned that point to any fraud.
Stop beating a dead horse. The author of the memo has already clarified the purpose of the memo as described by its content which was very self evident to the rational minded.
Whatever authority Kachikwu thought resided in his office as junior minister or as NNPC board chairman, has already been well explained by NNPC and the GMD using relevant and non-fictional guidelines and regulations that concern procurement and the required due processes for contract award.
Of course, you can't see any "tangible" thing mentioned. You could have at least take your time to read Kachikwu's memo.
Government corruption does not involve withdrawing money from certain accounts(many people think that is how it works), it is through awarding of contracts. All the money linked to Diezani are from the proceed of illegal and scam contracts awarded.
In fact, a politician will be so foolish as to directly steal from the government's coffers if that is possible in the first place.
The contracts awarded by Baru were illegal because he has no authority to to single-handedly award such contracts.
factsandfigures: The problem with Nigeria is not APC ,PDP or the politicians. The problem with Nigeria is the ordinary Nigerians who foolishly take sides with these politicians because of ethnic and religion affiliations. Even when it is so glaring that the APC Government is looting the country dry, some shameless and unemployed youths who can hardly feed themselves will still come to these forum to support them. If all Nigerians irrespective of religion and tribe are united in protesting against these corrupted politicians they will not have the gut to play on our intelligence. I am totally disappointed in PMB. There is no need for him to pretend to be a saint. The facts are obvious......If most of your associates are corrupt then you are corrupt period!
i totally agree with you. The youths of this country has failed her embarassingly. We allow these old cargos to use us through ethnic, regional and religious borderline
Omenka and Sarrki are simply political Urchins and tribal bigots just as we have during PDP era, these people are like bibilical Issau whom the bible refered to as being profane, ever willing to sell their birth right for a plate of porridge. They have no shame
I have entered the thread, show me the fraud and stop beating about the bush without highlighting the specific fraud that has not been well addressed already by the NNPC?
factsandfigures: The problem with Nigeria is not APC ,PDP or the politicians. The problem with Nigeria is the ordinary Nigerians who foolishly take sides with these politicians because of ethnic and religion affiliations. Even when it is so glaring that the APC Government is looting the country dry, some shameless and unemployed youths who can hardly feed themselves will still come to these forum to support them. If all Nigerians irrespective of religion and tribe are united in protesting against these corrupted politicians they will not have the gut to play on our intelligence. I am totally disappointed in PMB. There is no need for him to pretend to be a saint. The facts are obvious......If most of your associates are corrupt then you are corrupt period!
With the millions of pounds and dollars recently recovered in the family house of a former NNPC GMD, I believe all these contracts have corruption written all over them.
DutchBruh: Does it mean the sense of shame has been completely lost in this country by people holding positions of trust in and around government? How do you reconcile that some highly-placed individuals can come out to say there were no issues of contract awards raised by the Minister of State Petroleum, Ibe Kachikwu, in his leaked memo to President Muhammadu Buhari, who also doubles as the substantive Petroleum Minister? The broad day lies being dangled by the government and its agents to change the actual color and content of the leaked memo - is it not outright corruption in itself?
If the arrangements previously referred to as Offshore Crude Oil Processing Agreements (OPAs) and Crude-for-Products Exchange and now known as Direct Sale-Direct Purchase Agreements (DSDP), are not contracts for crude oil lifting in exchange for imported petrol and diesel, what are they - cha cha (gambling) abi?
What exactly is transparent in a deal where crony local companies obviously connected to politicians in the ruling party are paired with multinationals simply to collect rent and share with political elites in government?
Just see the fumbling of a mendacious bunch: Kachikwu, in his memo, alleged that Baru awarded contracts worth about $25 billion without recourse to the board, or Federal Executive Council (FEC).
Buhari ordered Baru to respond to Kachikwu’s allegations. The NNPC boss, in his original response, did not deny awarding the controversial oil contracts but rather insisted that he does not require Kachikwu’s nor the board’s approvals to enter into such contracts which are part of daily the running of the nation’s apex oil concern.
Spokesperson to the Vice President, Laolu Akande, either was pushed or willingly accepted to announce that his boss, Prof. Osinbajo actually approved two of the controversial oil contracts while the president was attending to his ill health in London. The Vice President came out few hours later to deny what his spokesperson said and disclosed he never approved any oil contract but loans for Joint Venture cash calls which is even an entirely different story and a discussion for another day.
The last scene thus far was that the Presidency last Sunday, totally dismissed reports that $25bn worth of oil contracts were awarded by the Nigerian National Petroleum Corporation (NNPC), saying, “a closer look at each of the said projects indicate clearly that these are not procurement contracts.”
Is this story not becoming increasingly interesting? First version, Buhari signed the contract while in London; second version, Osinbajo signed the contract; latest version, Presidency says there is no contract anywhere. Haba! How did we get to this point in the governance of this country?
Even Baru admitted awarding the controversial contracts, while Osinbajo clarified the role he played. So how come spin doctors are coming to tell us there were no issues of contract awards with the associated fraud and corruption thereof?
As my Warri people would say, Bros see explanation by the Presidency: “When you look diligently at the referenced projects/transactions one by one, you will see, as NNPC has shown, that none of them was actually a procurement contract. Take the Crude Term Contract and the Direct Sale, Direct Purchase (DSDP) agreements, for instance, these are not procurement contracts involving the expenditure of public funds. It is therefore wrong and misleading to refer to them as though they’re contracts involving the expenditure of NNPC funds, or public funds of any sort.” ‘Chai, who do Nigeria this’?
You see our country! So Kachikwu lied in his memo; Baru lied in his initial response that Buhari approved with dates the contracts while in bed in London; and the vice president through his spokesperson initially lied or made a mistake in saying he approved two of the contracts? Couldn’t it have been better if Nigerians were dished with one turn-key corporate lie rather than these pockets of unintelligent rations?
How could the presidency say there were no contracts procured by NNPC based on the leaked memo by the Minister of State for Petroleum? Saying that such impressions were maliciously created was an outright insult to our sensibility as a nation. Did Osinbajo not read Kachikwu’s letter with the itemized sub-headings under contracts? Was it maliciously created by the press or the opposition? Was it not Kachikwu who in his memo described these deals as contracts? So the minister does not know what a contract is? How can you then turn around to say it was maliciously created by the press and the opposition? The deals highlighted under that heading, if they are not contracts, what are they- cha-cha?
The fuel subsidy scam of the Jonathan era, were they not mostly crude oil lifting deals similar to these ones by Baru? And you are telling us these are not contracts. Any business transaction between entities more especially the government is a contract because there are contractual obligations to be fulfilled by the parties and profits/benefits to be derived from such arrangements.
Ibe Kachikwu listed concerns up to the tune of $25 billion and the only thing Baru and the Presidency could do is to paint a cover up. If Osinbajo agreed that he signed for Baru some loan deals for joint venture cash call obligation, how much exactly did he approved and what percentage is the approved money (loans) in the $25 billion sum total of the secret contracts? How much is the vice president’s approval covering for these scams? As the VP has agreed he approved N640 billion which is just about $2 billion for JV cash calls, who approved the balance of over $23 billion for Baru and his NNPC?
Saying that these contracts are not about public funds is outright rubbish. It is not about public funds, it is about deals that has remained the drain pipe of the massive corruption in the NNPC and the entire Nigerian oil sector. Does anybody get into a deal without expecting to make profit and it is in these “profits” that our oil monies have been stolen massively by those in and around government. So by telling us that these deals are not paid for in cash is simply insulting our intelligence.
A lot of these deals are paid for through crude oil liftings. You ask a contractor to come and lift the oil equivalent of his money in the deal, is the contractor going to discharge the oil in his recreational swimming pool? Is he not going to sell the oil to make money to cover his expenses and profits? Everything we call corruption in Nigeria come from deals like this where people in and around government build-in their criminal interests rather than our collect interests as a nation.
Meanwhile, the substantive minister of petroleum who should take responsibility and account to us what really transpired has remained dead silent on this matter.
It will shock Nigerians to know that what is involved in this racket is over 600,000 barrels of crude oil on daily basis being picked by international traders in exchange for imported petrol and diesel alone. This is the same NNPC that wants us to believe that the nation’s three and half refineries have been working at over 65 percent cumulative capacity utilization. Now that the bubble is bursting in the ongoing fraud, the NNPC has come out to inform us that the Port Harcourt, Warri, and Kaduna refineries have been shut down for Turn-Around-Maintenance. Has it ever happened in this country that the three plants will be shut down at the same day for TAM and does it even make a sound engineering management sense? The truth is that the refineries were not working in the first instance. That a plant is flamed -up like what Kaduna does daily does not mean it is processing anything. Of course, how can our refineries process anything when it is more lucrative in Nigeria to do deals and collect rents. God help Nigeria! http://saharareporters.com/2017/10/19/nnpc-25bn-secret-oil-deals-and-buhari%E2%80%99s-dissonant-lying-game-ifeanyi-izeze
One of the best write up i have read on NL... All i can deduce from it is that Apc is full of corruption having sold themselves as saint. From the comments above,it shows how united we are buy contributing well but Religion bigotry when given a chance is our biggest problem!!.. God bless us God bless Nigeria.
DutchBruh: Does it mean the sense of shame has been completely lost in this country by people holding positions of trust in and around government? How do you reconcile that some highly-placed individuals can come out to say there were no issues of contract awards raised by the Minister of State Petroleum, Ibe Kachikwu, in his leaked memo to President Muhammadu Buhari, who also doubles as the substantive Petroleum Minister? The broad day lies being dangled by the government and its agents to change the actual color and content of the leaked memo - is it not outright corruption in itself?
If the arrangements previously referred to as Offshore Crude Oil Processing Agreements (OPAs) and Crude-for-Products Exchange and now known as Direct Sale-Direct Purchase Agreements (DSDP), are not contracts for crude oil lifting in exchange for imported petrol and diesel, what are they - cha cha (gambling) abi?
What exactly is transparent in a deal where crony local companies obviously connected to politicians in the ruling party are paired with multinationals simply to collect rent and share with political elites in government?
Just see the fumbling of a mendacious bunch: Kachikwu, in his memo, alleged that Baru awarded contracts worth about $25 billion without recourse to the board, or Federal Executive Council (FEC).
Buhari ordered Baru to respond to Kachikwu’s allegations. The NNPC boss, in his original response, did not deny awarding the controversial oil contracts but rather insisted that he does not require Kachikwu’s nor the board’s approvals to enter into such contracts which are part of daily the running of the nation’s apex oil concern.
Spokesperson to the Vice President, Laolu Akande, either was pushed or willingly accepted to announce that his boss, Prof. Osinbajo actually approved two of the controversial oil contracts while the president was attending to his ill health in London. The Vice President came out few hours later to deny what his spokesperson said and disclosed he never approved any oil contract but loans for Joint Venture cash calls which is even an entirely different story and a discussion for another day.
The last scene thus far was that the Presidency last Sunday, totally dismissed reports that $25bn worth of oil contracts were awarded by the Nigerian National Petroleum Corporation (NNPC), saying, “a closer look at each of the said projects indicate clearly that these are not procurement contracts.”
Is this story not becoming increasingly interesting? First version, Buhari signed the contract while in London; second version, Osinbajo signed the contract; latest version, Presidency says there is no contract anywhere. Haba! How did we get to this point in the governance of this country?
Even Baru admitted awarding the controversial contracts, while Osinbajo clarified the role he played. So how come spin doctors are coming to tell us there were no issues of contract awards with the associated fraud and corruption thereof?
As my Warri people would say, Bros see explanation by the Presidency: “When you look diligently at the referenced projects/transactions one by one, you will see, as NNPC has shown, that none of them was actually a procurement contract. Take the Crude Term Contract and the Direct Sale, Direct Purchase (DSDP) agreements, for instance, these are not procurement contracts involving the expenditure of public funds. It is therefore wrong and misleading to refer to them as though they’re contracts involving the expenditure of NNPC funds, or public funds of any sort.” ‘Chai, who do Nigeria this’?
You see our country! So Kachikwu lied in his memo; Baru lied in his initial response that Buhari approved with dates the contracts while in bed in London; and the vice president through his spokesperson initially lied or made a mistake in saying he approved two of the contracts? Couldn’t it have been better if Nigerians were dished with one turn-key corporate lie rather than these pockets of unintelligent rations?
How could the presidency say there were no contracts procured by NNPC based on the leaked memo by the Minister of State for Petroleum? Saying that such impressions were maliciously created was an outright insult to our sensibility as a nation. Did Osinbajo not read Kachikwu’s letter with the itemized sub-headings under contracts? Was it maliciously created by the press or the opposition? Was it not Kachikwu who in his memo described these deals as contracts? So the minister does not know what a contract is? How can you then turn around to say it was maliciously created by the press and the opposition? The deals highlighted under that heading, if they are not contracts, what are they- cha-cha?
The fuel subsidy scam of the Jonathan era, were they not mostly crude oil lifting deals similar to these ones by Baru? And you are telling us these are not contracts. Any business transaction between entities more especially the government is a contract because there are contractual obligations to be fulfilled by the parties and profits/benefits to be derived from such arrangements.
Ibe Kachikwu listed concerns up to the tune of $25 billion and the only thing Baru and the Presidency could do is to paint a cover up. If Osinbajo agreed that he signed for Baru some loan deals for joint venture cash call obligation, how much exactly did he approved and what percentage is the approved money (loans) in the $25 billion sum total of the secret contracts? How much is the vice president’s approval covering for these scams? As the VP has agreed he approved N640 billion which is just about $2 billion for JV cash calls, who approved the balance of over $23 billion for Baru and his NNPC?
Saying that these contracts are not about public funds is outright rubbish. It is not about public funds, it is about deals that has remained the drain pipe of the massive corruption in the NNPC and the entire Nigerian oil sector. Does anybody get into a deal without expecting to make profit and it is in these “profits” that our oil monies have been stolen massively by those in and around government. So by telling us that these deals are not paid for in cash is simply insulting our intelligence.
A lot of these deals are paid for through crude oil liftings. You ask a contractor to come and lift the oil equivalent of his money in the deal, is the contractor going to discharge the oil in his recreational swimming pool? Is he not going to sell the oil to make money to cover his expenses and profits? Everything we call corruption in Nigeria come from deals like this where people in and around government build-in their criminal interests rather than our collect interests as a nation.
Meanwhile, the substantive minister of petroleum who should take responsibility and account to us what really transpired has remained dead silent on this matter.
It will shock Nigerians to know that what is involved in this racket is over 600,000 barrels of crude oil on daily basis being picked by international traders in exchange for imported petrol and diesel alone. This is the same NNPC that wants us to believe that the nation’s three and half refineries have been working at over 65 percent cumulative capacity utilization. Now that the bubble is bursting in the ongoing fraud, the NNPC has come out to inform us that the Port Harcourt, Warri, and Kaduna refineries have been shut down for Turn-Around-Maintenance. Has it ever happened in this country that the three plants will be shut down at the same day for TAM and does it even make a sound engineering management sense? The truth is that the refineries were not working in the first instance. That a plant is flamed -up like what Kaduna does daily does not mean it is processing anything. Of course, how can our refineries process anything when it is more lucrative in Nigeria to do deals and collect rents. God help Nigeria! http://saharareporters.com/2017/10/19/nnpc-25bn-secret-oil-deals-and-buhari%E2%80%99s-dissonant-lying-game-ifeanyi-izeze
Exactly what I was saying. Thieves everywhere you go. I told them severally to burn down that NNPC. That it will ruin any masquerade in anti corruption toga. See now.
This is so sad,i could recall buildup to the 2015 election i told my office collegues that the devil we know is better than this angle we donot know and dey wanted to crucify me.we can all see for ourselves.They came to power on the anticorruption mantra now they see that 2019 is fast approaching the stealling as begun.Aanybody defending this government is either you,re blind with the gaain u,re getting from this government or tribalistic youth.
billyG: make we hear word jare!d govt.said no money was stolen....did kachukwu said any money was stolen?he only complained he was not carried along.
The government told you that no money was stolen and you believed?!? Gosh!
How do you think politicians usually steal money?
They cannot withdraw money from the government accounts, but they steal money through awarding dubious contracts (with inflated prices) without due process (which is what Baru did), and then share the excess money gotten from such contracts.
Let's stop siding this government and begin to ask them questions.
billyG: make we hear word jare!d govt.said no money was stolen....did kachukwu said any money was stolen?he only complained he was not carried along.
No mind them. It would not be corruption if Kachukwu had signed it. In the response, it was alluded that Kachukwu had signed many like that when he was the substantive MD.
To make good articles like this, it would have been appropriate to point out what policy or law was flouted. I personally do not know if the board is required or not. I do not know if Kachukwu is simply crying for being sidelined
With pa Buhari's body language shows he's part the deal that was why Baru said he did not need Kachikwu to approve/know about the contract. Baru who claim to not being the errand boy to Kachikwu happens to be the senior errand boy to steal §26b for pa Buhari. Though, Baru was cut doing a good job as it seems and for that got him promoted to another money spinning oil sector where he can steal unhindered or challenged. Pa buhari, you are disappointing in so many ways.
Of course, you can't see any "tangible" thing mentioned. You could have at least take your time to read Kachikwu's memo.
Government corruption does not involve withdrawing money from certain accounts(many people think that is how it works), it is through awarding of contracts. All the money linked to Diezani are from the proceed of illegal and scam contracts awarded.
In fact, a politician will be so foolish as to directly steal from the government's coffers if that is possible in the first place.
The contracts awarded by Baru were illegal because he has no authority to to single-handedly award such contracts.
billyG: make we hear word jare!d govt.said no money was stolen....did kachukwu said any money was stolen?he only complained he was not carried along.
E no finish, e no finish...
Two-point-eight-billion naira Oil money is missing Two-point-eight-billion naira Oil money is missing Them set up inquiry Them say money no lost o Them dabaru everybody Them say make him no talk o "Money no lost," them shout again Inquiry come close o
I have entered the thread, show me the fraud and stop beating about the bush without highlighting the specific fraud that has not been well addressed already by the NNPC?
i'm sorry to be blunt with the truth, sir ur brain has been stolen n u r not aware. Locate the nearest civil defense office n lay complain so they can start investigation asap.
