SalamRushdie:


Common sense should tell you that only govt money belongs in the TSA and that is the 72 percent strictly ...So when is your govt going ask Chevron to also remit the entire 100 percent of revenue of their Joint venture into the TSA instead of the 60 percent they have been paying ? The truth can't be hidden and let's call this what it is A F#cking witch hunt .

Argh...the witch hunt card is always evergreen. Keep playing it.

When the TSA started, some stakeholders brought up genuine reasons why they should be exempted. Their cases were critically reviewed and those that hold water were excluded. Some banks got waivers to exceed the 48hrs window before remittance. That is the ideal way of doing things. If you have a genuine case why a govt policy will affect operations negatively, you bring up your case. It is reviewed and waivers granted where necessary. You don't flaunt govt policies becuase one of your board of directors is a politician.

But then, you know better than we all. It's either witch-hunting or nothing.

SalamRushdie:


I know Atiku will not do well but he will be more sensible than Buhari who never thinks anything out properly .

you guys are supporting atiku to get back at those who supported buhari, nothing more. It's all about anger, bitterness and resentment to console yourself over 2015. No political calculations at all. The guy you quoted is making sense that no present politician PMB and atiku inclusive has no vision but out of your resentment, still you don't get it. What a pity?

MaziOmenuko:


Argh...the witch hunt card is always evergreen. Keep playing it.

When the TSA started, some stakeholders brought up genuine reasons why they should be exempted. Their cases were critically reviewed and those that hold water were excluded. Some banks got waivers to exceed the 48hrs window before remittance. That is the ideal way of doing things. If you have a genuine case why a govt policy will affect operations negatively, you bring up your case. It is reviewed and waivers granted where necessary. You don't flaunt govt policies becuase one of your board of directors is a politician.

But then, you know better than we all. It's either witch-hunting or nothing.

my guy pls stop wasting your precious time educating bitter folks. You are too much for their level

BJ0SE:
Even the Atiku himself never said a word about the whole bruhaha, firstly the FG should have written a Memo to NPA directing it to mop up all funds with INTEL, if Intel refuses then terminate the contract. But the route they took by going to Intel directly to terminate the contract is why many termed it political, and how would anybody that has less than 17% shareholding ever get campaign funds from Intel. Atiku's source of income is still hidden

So, you erroneously believe that termination was announced without several warnings? That was a last resort and you and me only know about it because it was announced.
Didn't you read the part where that man said "we're ready to comply"? That explained to everyone that they were being stubborn and evasive before.

Max24:

So 30,000 members of staff of Intel's is a few individuals to you ? Pls, always look at d big picture. If Intel's goes underground foreign investment will be further stiffled. Buhari must not mix business with politics or else we enter into greater recession.

Many of you didn't follow this issue completely. NPA specifically said that the termination of the contract won't affect the workers as far job loss is concerned. They would have been simply absorbed by the new company base on condition that NPA would give the new company.
They fact of the matter is that no one is greater than the country, the threat has worked. What is the essence of power and authority when you are afraid of using it appropriately?

Lomprico2:
Its still political!! Is it today NPA found out about their non compliancy? First we were told intels were doing business in dollars which affects the naira, now its TSA. Lying bastards!

FG is just trying to limit atiku's acces to cash so as to hamper his campaign meanwhile they have stolen $26 billion to fund their own campaign. Period!!

Satanic government!!

people like you will always remain blind and backward in thinking. If you read very will you see that bola tinubu has bought part of atiki's 17.5 perc of total shares in intels. So, are you saying it is also political to frustrate tinubu? Let all these companies do the right thing and they shall be set free. Meanwhile, the company you are dying for has apologised. If you are not satisfy with that go and............

Lomprico2:
Its still political!! Is it today NPA found out about their non compliancy? First we were told intels were doing business in dollars which affects the naira, now its TSA. Lying bastards!

FG is just trying to limit atiku's acces to cash so as to hamper his campaign meanwhile they have stolen $26 billion to fund their own campaign. Period!!

Satanic government!!

Nigerians, see one on the unfortunates!

supersystemsnig:


That's why you're where you are..If reading a few words is your problem, how will you succeed in life? The seeds of success are in learning, you lazy nigga.......

30 billion for your account
I don't have the time I can waste with you

Proudlyngwa:

SalamRushdie: :


Let's be serious no TSA compliance was ever breached ..Mr Volpi has just moved to survival mode to save his firm from the senseless Buhari regime .

Your case is beyond pathetic

You mean he has moved to the level of psychosis? Absolutely true dat.

But when a paid wailer goes on on a destructive path, he will not even remember that his intelligence has been sacrificed at the altar of hartred

caesaraba:

SalamRushdie: :


Let's be serious no TSA compliance was ever breached ..Mr Volpi has just moved to survival mode to save his firm from the senseless Buhari regime .

Lol! A certain anonymously arm-chaired SalamRushdie on an anonymous forum has more facts than the owner of the company who is issuing an apology? Na from where dem de do una this kind thing? It' sustain too strong.

What will you not see. It seem to me the guy posts after getting intoxicated or drugged-up. or what do you make of his statement below

As someone who runs a firm that has a lot of revenue sharing agreement with bigger partners.....

..may be he thinks such deal are "Kashi" where he lost his live's worth to his "bigger partners"

BigIyanga:
And Tinubu bought majority of the minority held by Atiku and nobody has asked how he accumulated such wealth?

Shebi you have 2 legs? The street is called Bourdillon in Ikoyi

freshboi88:


So because of 30,000 pple, a company should keep doing the wrong thing and short changing 180m other persons...stand for what is right, stand for justice no matter how hard n painful it may be

So, its only Intel that is doing wrong? The main oil companies are not doing wrong, abi ? When foreign investment dries up now the same govt will start blaming Jonathan/PDP for its ineptitude. Also, its curious that Intel had no problem with NPA until Atiku started making his presidential ambition known. Buhari should not stifle opposition . Don't persecute people for their political views!

BJ0SE:
Even the Atiku himself never said a word about the whole bruhaha, firstly the FG should have written a Memo to NPA directing it to mop up all funds with INTEL, if Intel refuses then terminate the contract. But the route they took by going to Intel directly to terminate the contract is why many termed it political, and how would anybody that has less than 17% shareholding ever get campaign funds from Intel. Atiku's source of income is still hidden

Yours is a classic case of "arrogant-ignorance". It would have been better to google search for true position of things (as they are freely available on the media) than to go on wild-goose-chase, making up stories that are outright falsehood

Max24:

So 30,000 members of staff of Intel's is a few individuals to you ? Pls, always look at d big picture. If Intel's goes underground foreign investment will be further stiffled. Buhari must not mix business with politics or else we enter into greater recession.

Quack Economist and analyst boku for here. This is one of them. How is Intel's supposed going underground stifle foreign investment? How will a foreign country caught flouting a constitutional provision of the land dissuasive foreign investors? Should that not even be the signal to foreign investors that our institutions are getting strengthened?

bamidelee:

30 billion for your account
I don't have the time I can waste with you

Get lost. When you improve come for me..Not on your level

SalamRushdie:


Bro I still insist that Intels has done nothing wrong..Mr Volpi knows he is dealing with a very irrational character and must play smart

Sis sincerely I like you but you argue with sentiments. If the man didn't err, he would head to court to seek redress. Federal Government accused intels of not remitting 73% and they're being warned since May. What else do you want FG to do. Moreso, is it only intels that FG is dealing with what about banks been sanctioned and asked to pay fine for not complying with FG directives.
Be sincere with yourself.
If you don't mind share your whatsapp number

SalamRushdie:


The issue is not that Intels hasn't been paying into the TSA, they have been paying but only Paying 72 percent which is actually the govts share while they retain their own 28 percent but now the Buhari govt is saying Intels should pay the whole 100 percent into the TSA but this is morally and technically wrong because in actuality only govt earnings should go into the TSA and that's 72 percent ..Just Imagine the govt telling it's joint venture partners chevron who they have a 60:40 sharing agreement to pay the entire 100 percent earning for oil into the TSA ..But in reality Chevron only remits the govts 60 percent to her and keeps it's 40 percent..If this is not a witch hunt ask yourself why has the Govt not asked it's JV partners in the oil industry to do same

Like someone said earlier, you're overestimating your level of intelligence. This your comparing apples and oranges is useless. Is Chevron a collecting agency on behalf of FG in the JV arrangement? And for your information, the government has exited cash-call payment for JV capital operations, so in Chevron's case, Chevron looks for money, explore, produce, sell, back out capex and opex, then the profit is shared. In some cases, the whole money is escrowed and a trading company manages the distribution of the monies. In some cases govt (NNPC) owns some of the trading company (e.g. Duke Oil in UK). The upstream business model is TOTALLY DIFFERENT from pilotage contract arrangement

supersystemsnig:



This is something...every company has quota they must remit to the govt, i'm aware the Chevron, govt sharing formular is 60-40...But asking a company to pay 100% to the company is morally wrong and a breach of agreement...If the govt decides on remitting the company's fund way later than when due, will such company not collapse?

This worries me...It's a clear witch hunt to use bbackdoor strategy to kill a company

This is where you guys reason amiss. The pilotage agreement is as comparable to those "consultacy-fee agencies" governors paid large percentages on their share of the Paris-club refund. Govt can as well decide not to use any agency to collect pilotage and start his own Pilotage firm. Pilotage are fees paid to the government for using our waterways bringing in heavy duty vessels and good. That money technically belongs to FG 100% and Intels is just a collecting agency, so they are supposed to be paid their agency fees. Why twist logic the other way round? State government have used agencies in collecting their revenues and no state will ever allow his revenue to first go into an agencies account before going into the state's purse

mapet:


Like someone said earlier, you're overestimating your level of intelligence. This your comparing apples and oranges is useless. Is Chevron a collecting agency on behalf of FG in the JV arrangement? And for your information, the government has exited cash-call payment for JV capital operations, so in Chevron's case, Chevron looks for money, explore, produce, sell, back out capex and opex, then give govt their share of the profit. The upstream business model is TOTALLY DIFFERENT from pilotage contract arrangement

So what's the difference between what you have said and what Intels is doing ..You zombies like to change the narrative to suit your sadist agenda , so Intels is now a revenue collection agency ? You liar Intels is a critical logistics service provider at our ports and water ways and not a revenue collection agency , they invested in equipment , skill set, experience, solution and the business model development to create a value at our ports and waterways from where the earn revenue on Sharing ratio basis with Federal Govt ..Please I am not your avaerag gullible Nigerian so take your lies somewhere else ..Revenue collection agency indeed hahahahaha..you are mischievious dishonest character.

mapet:


This is where you guys reason amiss. The pilotage agreement is as comparable to those "consultacy-fee agencies" governors paid large percentages on their share of the Paris-club refund. Govt can as well decide not to use any agency to collect pilotage and start his own Pilotage firm. Pilotage are fees paid to the government for using our waterways bringing in heavy duty vessels and good. That money technically belongs to FG 100% and Intels is just a collecting agency, so they are supposed to be paid their agency fees. Why twist logic the other way round? State government have used agencies in collecting their revenues and no state will ever allow his revenue to first go into an agencies account before going into the state's purse

Excellent thesis. But if the compliance rules suggests the govt gets its cut while the collecting agency keeps it share, then it's viz-a-via the same thing we're talking about. We don't know the details, i simply suggested paying 100% to the govt directly is not safe given the opposition stance of the administration with its " enemies", if the agency keep its share, then its not a problem..However the whole revenue collection thing to me, i've always frowned at it, as cheap fraud, and entities created to make some people wealthy at the expense of the govt, soi'm not supporting either parties, and can boldly say i don't care

SalamRushdie:


So what's the difference between what you have said and what Intels is doing ..You zombies like to change the narrative to suit your sadist agenda , so Intels is now a revenue collection agency ? You liar Intels is a critical logistics service provider at our ports and water ways and not a revenue collection agency , they invested in equipment , skill set, experience, solution and the business model development to create a value at our ports and waterways from where the earn revenue on Sharing ratio basis with Federal Govt ..Please I am not your avaerag gullible Nigerian so take your lies somewhere else ..Revenue collection agency indeed hahahahaha..you are mischievious dishonest character.

I kuku told him o brov, whether they keep their share, or the govt gets its share, its the same thing

SalamRushdie:


So what's the difference between what you have said and what Intels is doing ..You zombies like to change the narrative to suit your sadist agenda , so Intels is now a revenue collection agency ? You liar Intels is a critical logistics service provider at our ports and water ways and not a revenue collection agency , they invested in equipment , skill set, experience, solution and the business model development to create a value at our ports and waterways from where the earn revenue on Sharing ratio basis with Federal Govt . Please I am not your avaerag gullible Nigerian so take your lies somewhere else ..Revenue collection agency indeed hahahahaha..you are mischievious dishonest character.

1. If you cannot see the difference, then my estimation of your comprehension just went further south. @Gullible? Like someone mentioned earlier, you're beyond pathetic
2. Critical logistic service provider....bla...bla....bla...invested in equipment, skill set.......bla....bla....bla.... these are all empty coloration, empty shell and contextually useless to what is on discussion. So what am I to do with their investing in ship, skill-set and experience? You should have told me they work with their bare hands!
3. Better still tell us what else they "invested" that pilotage fees should domicile in their account and not TSA? Business model development my left-butt

nothing like apology some pple need 2 go to jail 4 defrauding us.

Lomprico2:


They have been kicked out!! And a new hybrid satanic devilish demons are on that seat.

mapet:


Quack Economist and analyst boku for here. This is one of them. How is Intel's supposed going underground stifle foreign investment? How will a foreign country caught flouting a constitutional provision of the land dissuasive foreign investors? Should that not even be the signal to foreign investors that our institutions are getting strengthened?

Now I understand. U are either a kid or a BMC. Have a good day.

supersystemsnig:



Excellent thesis. But if the compliance rules suggests the govt gets its cut while the collecting agency keeps it share, then it's viz-a-via the same thing we're talking about. We don't know the details, i simply suggested paying 100% to the govt directly is not safe given the opposition stance of the administration with its " enemies", if the agency keep its share, then its not a problem..However the whole revenue collection thing to me, i've always frowned at it, as cheap fraud, and entities created to make some people wealthy at the expense of the govt, soi'm not supporting either parties, and can boldly say i don't care

1. Your last statement for me makes you loose the credibility on your earlier argument. Is this about two sides to you or what is objectively in the interest of Nigeria? Is this about opposing parties, when the TSA was signed into law by GEJ?

2. What compliance rules are you talking about when a constitutional directive has superseded that?

3. Paying 100% of govt monies into govt account not safe? I refuse to make sense of that; but that said, why did Intels reject NPA's proposal that, if there is a breach in the proposed payment terms, govt will be liable to pay penalties

4. If you believe this contract was a cheap fraud ab-initio and rightly so, why then do you oppose moves to correct the "ridiculous fraud". If you frowned at revenue agencies collecting "mamoth" of interests, suspicion of non-remittances, why do you

"boldly say i don't care"

in this regard?

mapet:


1. If you cannot see the difference, then my estimation of your comprehension just went further south.
2. Critical logistic service provider....bla...bla....bla...invested in equipment, skill set.......bla....bla....bla.... these are all empty coloration, empty shell and contextually useless to what is on discussion. So what am I to do with their investing in ship, skill-set and experience? You should have told me they work with their bare hands!
3. Better still tell us what else they "invested" that pilotage fees should domicile in their account and not TSA? Business model development my left-butt

Stop being Deceitful man , at no time has Intels domiciled pilotage fees in their account , every kobo of govts 72 percent is always remitted into the TSA so stop trying to call a nun a witch so just you can hunt her ...and is pilotage primarily revenue collection move or a service, for your info Pilotage is a service that requires a lot skills from the crew of the piloting vessel and it take a lot of experience to get it done right , for your info again pillage is not compulsory for all vessel except the request for the service or the exceed the tonnage deemed unsafe for self piloting into our narrow waterways ( if you have ever been on a cruise ship you will know what I mean ). Stop lying Intels is not like Tinubus Alpha Beta which is a revwnue collectiion agency .

mapet:


1. Your last statement for me makes you loose the credibility on your earlier argument. Is this about two sides to you or what is objectively in the interest of Nigeria? Is this about opposing parties, when the TSA was signed into law by GEJ?

2. What compliance rules are you talking about when a constitutional directive has superseded that?

3. Paying 100% of govt monies into govt account not safe? I refuse to make sense of that; but that said, why did Intels reject NPA's proposal that, if there is a breach in the proposed payment terms, govt will be liable to pay penalties

4. If you believe this contract was a cheap fraud ab-initio and rightly so, why then do you oppose moves to correct the "ridiculous fraud". If you frowned at revenue agencies collecting "mamoth" of interests, suspicion of non-remittances, why do you in this regard?

The party ended a long time ago.. sorry i'm home now..

Max24:

Now I understand. U are either a kid or a BMC. Have a good day.

Was I to be an "elderly" with your mentality and reasoning capacity, I will curse the day I was born

supersystemsnig:



The party ended a long time ago.. sorry i'm home now..

ok. cheers

SalamRushdie:


Stop being Deceitful man , (1)at no time has Intels domiciled pilotage fees in their account , every kobo of govts 72 percent is always remitted into the TSA so stop trying to call a nun a witch so just you can hunt her ...and is pilotage primarily revenue collection move or a service, (2)for your info Pilotage is a service that requires a lot skills from the crew of the piloting vessel and it take a lot of experience to get it done right, for your info again (3)pillage is not compulsory for all vessel except the request for the service or the exceed the tonnage deemed unsafe for self piloting into our narrow waterways ( if you have ever been on a cruise ship you will know what I mean ). Stop lying Intels is not like Tinubus Alpha Beta which is a revwnue collectiion agency .

1. What is the meaning of this your contradictory statement? Intels collects Pilotage revenues on behalf of NPA/FG, so which account was it paid to initially?

2. Tell that to the marines. What have you stated here that is rocket science? Why would they be in pilotage business if they don't comit to doing that?
3. Are you tell us anything new here?

4. So in the context of our discussion and bye and large, what else does Intels do exactly? (and pls save me of the gibberish - skill-set and business models investment nonsense)

MaziOmenuko:

SalamRushdie: :


Common sense should tell you that only govt money belongs in the TSA and that is the 72 percent strictly ...So when is your govt going ask Chevron to also remit the entire 100 percent of revenue of their Joint venture into the TSA instead of the 60 percent they have been paying ? The truth can't be hidden and let's call this what it is A F#cking witch hunt .

Argh...the witch hunt card is always evergreen. Keep playing it.

When the TSA started, some stakeholders brought up genuine reasons why they should be exempted. Their cases were critically reviewed and those that hold water were excluded. Some banks got waivers to exceed the 48hrs window before remittance. That is the ideal way of doing things. If you have a genuine case why a govt policy will affect operations negatively, you bring up your case. It is reviewed and waivers granted where necessary. You don't flaunt govt policies becuase one of your board of directors is a politician.

But then, you know better than we all. It's either witch-hunting or nothing.

Bros,

Abeg de look am. He wants to twist logic. Where was he when NPA has been engaging Intels since 2015/16 and Intels refused to bulge? Until NPA sought legal advise from the Attorney-General's office.

Talking about merit and exemption, I think Intels tried to play that strategy but their excuse had no weight. NPA simply argued that they be held liable in cases of late payment of Intel's %age.

One thing that is instructive is that on Intel's side, the played a bad strategy card and did not realise it until it was too late. No wonder Mr. Volpi in his apology had this to say

I was not personally involved in the negotiations with NPA, but we apologise for what has happened.

“We intend to comply with the directive of government and transfer all the revenue to the TSA because we are a law-abiding company,”

This to me is the only person on Intel's side that saw the futility of their "agidi"