₦airaland Forum

[quote author= post=53715525]The Secretary to the Government of the Federation, Babachir Lawal, has proclaimed that those wishing death on Nigeria's President Muhammadu Buhari will die before him.

There have been rumors about the president's death after his departure to London on a medial vacation.

"Nigeria can only change when we support the government and do our bit and not allow ourselves to be used as agents of destruction and political thuggery," he said on Tuesday.

He added that those fighting the current administration were those who benefited from past proceeds of corruption.[/quote]This shameless man is talking of corruption after his own N350 million contract for grass cutting in IDP camps while many of the refugees are dying of starvation?
The thunder that will fire him is doing press ups.
APC is a den of corrupt hypocrites shielded by the baba of corruption in Aso Rock.


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MasterofNL:
The Yoruba Initiatives (TYI), a Socio-Cultural and Non-Political group in the South-West has cautioned against the growing agitation to break-up Nigeria. The group said this in a statement issued by its Spokesman; Mr Fola Olamiti on Monday in Abuja. Olamiti stated that the decision was reached at the end of the second meeting of the group held in Ibadan.

Fake story sponsored by those benefitting most from One Naijeriya controlled by the born-to-rule who can kill at will without any repercussion.
Fola Olamiti should reimburse those who paid him for this shoddy job.



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Ioannes:
and what was the outcome or do you just order an investigation and call a hearing just for show? How many people were indicted and who went to jail for what?

Let me repeat what I posted since you seem to have omitted it.

Did you read the dissenting opinion of APC senators led by Mrs. Remi Tinubu against the above

Ioannes:
I disagree with this. He came under fire and was removed for alleging the in the involvement of the fg in the disappearance of the $20 billion. But then I grant that I may be wrong. The question that begs for an answer is that, when the Central Bank governor made the allegations, why didn't the fg investigate?

Please are you repeating these worn-out APC lies out of ignorance or out of forgetfulness
Which one?
Did you not read about the senate hearings and the forensic audit of NNPC that only Jonathan has ordered in all the years of the Corporations existence?
Even Ebola Owu did nothing of the sort.

EdCure:
The report was made available to President Jonathan by PWC’s country senior partner, Uyi Akpala and the Risk and Quality Leader for Africa, Gabriel Ukpeh.

The audit was ordered by Nigeria’s minister of Finance Ngozi Okonjo-Iweala after a former governor of the Central Bank of Nigeria, Sanusi Lamido Sanusi disclosed that over $60 billion was stolen by NNPC officials in collusion with some local oil companies.
 
The content of the report has not been disclosed to the public as at the time of publishing this report.

http://saharareporters.com/2015/02/02/pricewater-house-cooper-submits-forensic-audit-report-finances-nnpc-jonathan

‘Missing $20 billion’: Nigerian Senate clears Alison-Madueke, says no money missing


More from: http://www.premiumtimesng.com/news/161646-missing-20-billion-nigerian-senate-clears-alison-madueke-says-money-missing.html

Did you read the dissenting opinion of APC senators led by Mrs. Remi Tinubu against the above

napoleon77:
What is so true? That Nigerians are misinformed by who? The govt in power or only past govts?

Let me ask our minister for propaganda and misinformation, Ogbeni Lie Mohammed.



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kettle84:
what has Buhari been doing since two years in office? traveling up and down

He hit the ground running flying and has continued ever since.



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Ioannes:
You must figure me for someone who sides one politician over the other. Absolute nonsense. Any politician found guilty should have his head removed even if he is my dad.

You guys are fond of putting up a lame defence of, "he's not the only one who's corrupt".

How does Nigeria make any meaningful progress with that kinda attitude.

We all know that Sanusi's removal was occasioned by his whistle-blowing on the FG otherwise did they just realise that he was guilty of some misconduct?

We are talking of the era of Jonathan were no one was ever punished for corruption except Sanusi who incidentally blew the whistle of corruption on the Federal Government. You think that's coincidence? You must be a learner.

You really need to learn the sequence of things before you continue to embarrass yourself thinking that you know what you are talking about.
Sanusi started singing like a drunk canary bird with changing amounts only AFTER he was indicted for stealing at the CBN.
Stella Oduah and Barth Nnaji were punished for ALLEGATIONS of corruption under Jonathan.
Fact!
Buhari who is "fighting" corruption has not sacked Buratai, neither has he sacked his SGF. Or has he?
Don't let the propaganda against Jonathan and Buhari's fraudulent packaging deceive you.
Shine your eyes and see.

wunmi590:
Haaa,

Look at that mans belly in the second picture.

I think DSS needs to visits that man belly, that's where he's hiding our looted fund

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unclezuma:
Honor amongst thieves...

Was it not the PDP "navigator" who said that during the Ngige/Ubah kidnapping saga in Anambra
Ebola Owu has been taking us for a ride for too long.



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pat077:
Na everything dey increase in price 4 dis administration...

.........except salaries and pensions that are even owed for so many months by Association of ProgreTHIEF Criminals, APC governors.



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GossipHeart:
Thank God

I hope it keeps increasing so that before next month it will hit 700 naira

Is Tam David-West still alive
I have not heard from him for some time.



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Baba Promise & Fail has changed again on this fuel subsidy and price so many times that I have lost count.
Zombies thank you oh.



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seangy4konji:
na that Goodluck era ruin Nigeria...

walahi it ruin nigeria patapata...a lot of billionaires for the rich and a lot of coffin for the poor...

Are you talking of Ebola Owu who stole our $16 billion meant for electricity

How my government produced 25 billionaires – Obasanjo

More from: http://dailypost.ng/2016/10/30/government-produced-25-billionaires-obasanjo/

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ddippset:
young man, you are still playing to the gallery. pause, take a moment, read the topic again and come back and make your comment. this is not a forum for mad people.

Firstly you should mind your language to avoid running foul of Rules:

2. Don't abuse, bully, deliberately insult/provoke, fight, or wish harm to Nairaland members OR THEIR TRIBES.
3. Don't threaten, support or DEFEND violent acts against any person, tribe, race, animals, or group (e.g. rape).

Meanwhile, below is your first post that I quoted and responded to.
Were you playing to the gallery when you posted it

ddippset:
Sanusi warned in 2014, Ngozi was borrowing to pay salaries in 2015, Avengers started blowing up the whole place in 2016. But they want to heap all the problems on Buhari s head. God will give Baba health, strength and guidance to lead Nigeria till 2019 and even 2023 if He wills, Amen!

ddippset:
body language or odour or whatever to kill the militants is very irrelevant to our discuss. the matter on ground is that the avengers had their way and it did cripple the economy.

Your old soldier promised to deal with them.
Is that promise no longer relevant?
Has that changed


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TheBlessedMAN:
Due to the Economy recession, i am damn broke.. Unlike previous Valentines that i use to take my gf to exortic places... This time around, i can't afford that luxury, cos as am typing this Message, i have just #500 with me.. And i really want to buy something for my Gf as a Vals gift..

Advice= pls what can i buy? Pls o...

Even with Buhari's recession, sharp guys are not dulling oh.
Na to reset the levels mehn.

SweetAndre:
Yes, real guyz never mind what people will say but plan their budget to keep life moving. Here are two campus guyz who was spotted patronizing popular "Bend down Select" just to keep the fun real.
Sew your coat according to your cloth.


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ddippset:
Sanusi warned in 2014, Ngozi was borrowing to pay salaries in 2015, Avengers started blowing up the whole place in 2016. But they want to heap all the problems on Buhari s head. God will give Baba health, strength and guidance to lead Nigeria till 2019 and even 2023 if He wills, Amen!

The zombies said Baba will use body language odour to kill all the militants.
Has that also changed

egift:
This is a man who understands exactly what to do. Has a track record of victories. And has the political will to keep Nigerians safe across the Federation.

Kidnapper, Terrorists, Militants, Arm Rubbers, Criminals - find something legitimate to do with your life. The next President of Nigeria is NOT into Military-Costume-Wearing. He is a Retired Major General. Trained in Nigeria, India, United Kingdom and the United States. He is an over performer. He is not shy of the Facts. Our Senior Military Commanders will not eat Military budget and clean mouth under his watch.

Don't mind those that tell you that Nigeria Cannot be Changed. That things can't be better. They just want to keep looting. When they exhaust their lies, they will start mocking, insulting and posting cartoons.

While PDP are hoping to rig themselves in, Buhari and the entire APC team believe you have the capacity to elect Buhari with your votes alone. Let see who wins (PDP Rigging vs The Votes of the Masses).

This Change is Unstoppable. Sai Buhari. 5days to go!

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adem30:
You should cry more on those who looted your future

Like these ones below


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sekundosekundo:
#270mil grass cutter.


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His fellow looter and chronic debtor of salaries and pensions in Imo state sef is dumbfounded.


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EazyMoh:
It's a clear sign you are still clueless!

How can someone who stands with Buhari call another person clueless
Surprise and wonders shall never end.


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babyfaceafrica:
It is clear you will never rule this country again...you missed a golden opportunity to right wrongs

Would you say the same thing about Ebola Owu

Nigeria's Obasanjo, his Untouchables, and the $16 Billion Power Scam


More from: http://www.africaundisguised.com/newsportal/story/nigerias-obasanjo-his-untouchables-and-16-billion-power-scam


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Keep away from Obasanjo, he wasted $16 billion on power Owie tells Buhari



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Senator Roland Owie has blasted ex Pres­ident Olusegun Obasanjo over his perceived posture to influence the incoming administration of President-elect, Gen. Muhammadu Buhari.

Reacting to a Think-tank report submitted to Buhari by a team of technocrats put together by Obasanjo, Owie described the document as needless.

In a statement issued in Abuja on Sunday, Owie, who is also a former Chief Whip of the Senate, asked: ”How can Obasanjo be preparing a blueprint for Buhari? A Bini parable says, ‘how can an impotent man get medicine for his brother, who suffers weak erection?’”

Expressing disappointment at Buhari’s romance with Obasanjo, Owie said “Obasanjo will tell the world that the solutions he prescribed for fixing Nigeria were ignored.”

Continuing he said, “I just read that Obasanjo’s think-tank has submitted a blueprint to Buhari. Blue what?

“I am shocked that great Nigerians of the likes of Prof. Akin Mabogunje, Dr. Idika Kalu and Dr. Christopher Kolade were involved. That Obasanjo is linked to the blue-print, it will be a document of blackmail to Buhari very soon.

“Wonders will never end! How can Obasanjo who allegedly wasted eight years in government pursuing perceived enemies, and tried to ruin the legislative and judiciary arms of government in Nigeria; wasted $16 billion on power and not a single kilowatt of energy was produced, destroyed Aladja Steel, Itakpe Steel, Ajaokuta Steel, NITEL, just to mention a few FGN parastatals, now begin to advise Buhari?

“How can Obasanjo, whose government received, in one year, a revenue equivalent of the total revenue that IBB regime received in eight years, yet, nothing to show for it, be handing over blue-print to the in-coming administration?

More from: http://pointblanknews.com/pbn/exclusive/keep-away-from-obasanjo-he-wasted-16-billion-on-power-owie-tells-buhari/

Maybe because it was a silent phone conversation.
Abi they have finished repairing his ears in London ni


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captleonerd:
it's funny how you conveniently blame ACN block of APC for not developing the region and producing luxury vehicles while you don't see anything wrong with PDP's 16yrs of lootocracy out of which your hero spent 5yrs and 10months. shame on you bro. your hypocrisy is legendary.

How many years did Ebola Owu, the APC navigator spend of the 16 years?


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omenkaLives:
And what did the Grand Commander of Thieves of the Federal Republic of Nigerria do then; SACK HIM!

That is who jonathan was, is, and will always be.

Sacked him because of this =>

anonimi:
Sanusi/CBN/FRCN indictment report continued


(C) Available information indicates that the Central Bank has over the years engaged in procurement of goods, works and services worth billions of Naira each year without complying with the express provisions of the PPA.

(D) By deliberately refusing to be bound by the provisions of the Act, the CBN has not only decided to act in an unlawful manner, but has also persisted in promoting a governance regime characterised by financial recklessness, waste and impunity, as demonstrated by the contents of its 2012 Financial Statements.

Unlawful expenditure by the Central Bank of Nigeria on ‘Intervention Projects’ across the country

(A) the unacceptable level of financial recklessness displayed by the leadership of the Central Bank of Nigeria is typified by the execution of ‘Intervention Projects’ across the country. From available information, the bank has either executed or is currently executing about 63 such projects across the country and has committed over N163billion on them.

(B) it is inexcusable and patently unlawful for any agency of government to deploy huge sums of money as the CBN has done in this case, without appropriation and outside CBN’s statutory mandate. It is trite that the expenditure of public funds by any organ of government must be based on clear legal mandates, prudent costing and overriding national interest.

Financial infractions and acts of financial recklessness committed by the Central Bank as reflected in its audited financial statements of 2012

(A) pursuant to Section 50 of the CBN Act 2007, a copy of the audited financial statements of the CBN for the year ended 31st December 2012 was sent to Mr. President. Based on the issues raised in the financial statement, a reaction was requested from you to enable a proper appreciation of the nation’s economic outlook.

(B) the response to this query was further referred to the Financial Reporting Council of Nigeria. The review by the council, rather than allay the fears of government, further confirmed concern bout the untidy manner in which you have generally conducted the operations of the CBN.

Some of the salient observations arising from the review are;

(A) in a most ironical manner, it has become obvious that the CBN is not able to prepare its financial statements using applicable International Financial Reporting Standards (IFFS) whereas Deposit Money Banks that the CBN is supervising have complied with this national requirement since 2012.

Undoubtedly, this laxity on the part of our apex bank, apart from calling to question its capacity for proper corporate governance, is capable of sending wrong signals to both domestic and international investors on the state of the Nigerian economy.

(B) the provisions of the Memorandum of Understanding (MOU) signed by the CBN and other Deposit Money Banks on Banking Resolution Sinking Fund have been breached in a material manner. For example, a Board of Trustees (BOT) to manage the Fund has not been constituted since 2010 when it was established. The CBN has however continued to utilise the Fund for certain operations without approval of the said BOT.

(C) contrary to section 34 (b) of the CBN Act 2007 which provides that the CBN shall not, except as provided in Section 31 of the Act, inter alia, purchase the shares of any corporation of company, unless an entity set up by the approval or authority of the Federal Government,m CBN in 2010, acquired 7% shares of International Islamic Management Corporation of Malaysia to the tune of N0.743 billion. This transaction was neither brought to Mr. President’s attention nor was a board approval obtained before it was entered into.

(D) the CBN has failed or refused to implement the provisions of the Personal Income Tax (Amendment) Act 2007. Accordingly the Pay-As-You-Earn (PAYE) deductions of its staff are still being computed in accordance with the defunct Personal Income Tax Act 2004, thus effectively assisting its staff to evade tax despite the generous wage package in the CBN, relative to other sectors of the economy.

(E) the CBN had an additional brought forward to General Reserve Fund of N16.031bn in 2012 but proceeded on a boy age of indefensible expenses in 2012 characterised by inexplicable increases in some heads of expenditure during the year. Examples include:

1. The bank spent N3.086bn on “promotional activities” in 2012 (up from N1.084bn in 2011). The bank spent this sum even when it is not in competition with any other institution in Nigeria;

2. The CBN claimed to have expended N20.202bn on ‘Legal and Professional Fees’ in 2011 beyond all reasonable standards of prudence and accountability;

3. Between expenses on ‘Private Guards’ and ‘Lunch for Policemen’, the CBN claimed to have spent N1.257 billion in 2012;

4. While Section 6(3)(c) of the CBN Act 2007 provides that the board of the CBN is to make recommendations to Mr. President on the rate of renumeration to Auditors, the bank has consistently observed this provision in breach and even went to the extent of changing one of the Joint External Auditors without notifying the office of the President.

5. In the explanations offered by the CBN pursuant to presidential directives, it offered a breakdown of ‘Currency Issue Expenses’ for 2011 and 2012. Interestingly, it claimed to have paid N38.233bn to the Nigerian Security Printing and Minting. Company Limited (NSPMC) in 2011 for ‘Printing of Banknotes.’ Paradoxically however, in the same 2011, NSPMC reported a total turnover of N29.370bn for all its transactions with all clients (including the CBN).

6. It is significant to note that the external audit revealed balances of sundry foreign currencies without physical stock of foreign currencies in the CBN Head Office.

Questionable write-off of N40bn loans of a bank

The above issues are only a few of the infractions highlighted by the review and which point to the gross incompetence and recklessness which characterised the operations of the CBN in the period under review.

However, the CBN also claimed that it paid Air Charter, such as payments to Emirate Airline (N0.511bn), Wing Airline (N0.425bn) and Associated Airline (N1.025bn) to distribute currency by air nationwide. Emirate Airline does not fly local charter in Nigeria, Wing Airline is not registered with Nigeria Civil Aviation Authority and Associated Airline does not have a billion turnover for 2011 because upon enquiry, the management claimed that they have no financial statements and have not had any significant operations for the past two years that will warrant preparation of financial statements.

The breakdown also include “Currency Issue Expenses” of N1.158bn and Sundry Currency charges of N1.678bn under “Currency Issue Expenses.” As they are in 2011 so are similar expenses in 2012. These are difficult to understand.

Other areas of fraudulent activities include

1. Facility Management N7.034bn in 2012 (N5.751bn in 2011.

2. Foreign Bank accounts that have been closed offshore were still operational in the General Ledger for over six months after they have been confirmed as closed accounts by the offshore banks.

3. The “Know Your Customer” policy is not properly followed by the CBN to the extent that the CBN has unknown customer with account balance of N1.423bn since 2008. The CBN claim that it is taking steps to obtain the required details regarding the address of the customer.

Wastefulness

1. Training and travel expenses N9.24bn in 2012 up from N7.65bn in 2011.

2. Expenses on “ATM offsite policy change” came to N1.045bn.

3. Expenses on “Non Interest Banking” N1.359bn in 2012 up from N0.977bn in 2011.

The CBN is still very heavy on expenses on “Project Eagles” spending N0.606bn in 2012 up from N63m in 2011.

Expense on newspapers, books and periodicals (excluding CBN’s publications) is N1.678 billion in 2012 up from N1.670bn in 2011,


From: http://www.punchng.com/news/the-frcns-report-on-sanusi/

Ioannes:
Please just keep reminding them. The average Nigerian's memory capacity isn't as developed as that of the other homosapiens.

We'll need to keep reminding ourselves every week since we all suffer from collective amnesia.

Can we also remind ourselves of this

barcanista:
Since I was born, I have never witness the kind of hypocrisy, double standard and demonisation that is currently perpetrated by Muhammadu Buhari, the APC, Alhaji Sanusi, Osinbajo and their "good governance crusaders" against the person of President Goodluck Jonathan, Allison Madekwe, and other government officials.

Alhajis Buhari and Sanusi and APC have been going about using every platform to talk about a "missing $20b", cheered by their hypocritical followers that pride themselves as good governance crusaders. They have deliberately gone blind over the fraud of CBN under Sanusi as outlined by the Financial Reporting Council of Nigeria report in February 2014.

Sanusi Indicted And Removed For Fraud
According to the report (see below) Sanusi was indicted for Gross Misconduct that bothers on fraud and financial recklessness among other offence. The FRCN subsequently advised Mr President to remove Lamido Sanusi from office for further investigation and probe after the explanation of Sanusi appeared more like a tale and outrightly illogical according to FRCN. The council indicates that the explanation provided by Sanusi is “a clear display of incompetence, nonchalance, fraud, wastefulness, and abuse of due process and deliberate efforts to misrepresent facts on the part of the leadership of the CBN.”

The council advised the President to exercise the powers conferred on him by Section 11(2)(f) of the CBN Act 2007 or invoke Section 11(2)(c) of the said Act “and cause the governor and the deputy governors to cease from holding office in the CBN.”


April 2014: VP-elect Yemi Osibanjo Filed Case To Stop Sanusi Probe
Rather than Sanusi to prove his innocence in court, he filed a case in Federal High Court, Lagos to STOP FRCN and Other Security Agencies from investigating and prosecuting him through three Senior Advocates of Nigeria, Prof. Yemi Osibanjo, Dr. Kanyinsola Ajayi and Kola Awodien.
http://www.theguardianmobile.com/readNewsItem1.php?nid=24587

13 May 2014: Lagos Judge Tshoho Grants Sanusi Prayers
High Court Judge John Tshoho rather than uphold the constitutional powers of FRCN to investigate probe Sanusi, he granted the prayers of Lamido Sanusi and BARRED FRCN from further investigation or probing Sanusi Lamido Sanusi. In his own words...
“Prejudice is very pronounced in the language of that document. The language of the briefing note (transmitted by the FRCN to the presidency) conveys a sense of the defendant desperately goading the presidency to deal with the plaintiff,”
“The plaintiff submitting himself for investigation (by FRCN) is like the cockroach finding itself in the midst of fowls. Such a cockroach cannot be innocent,”.
http://www.tv360nigeria.com/?p=11923

Despite the fact the President Jonathan commissioned PWC to audit NNPC books to ascertain the veracity or otherwise of Sanusi's claim, Buhari, APC, Sanusi and their online agents that parade themselves as good governance and anticorruption apostles have been crying blue murder but refused to comment on the FRCN report nor the APC's VP elect role in shielding Sanusi for probe.

April 26, 2015: Buhari's Display of Hypocrisy
In his usual hypocrisy, General Buahri vowed to re-visit the $20b allegation but said NOTHING about the FRCN report. In his own word... “Imagine a situation where the former CBN governor who by God ‘s grace would later become the  Emir of Kano raised an  issue of missing billions of money, not in Naira but in Dollars, $20 billion.
“What happened, instead of investigating to know whether it was true that the money was missing or not, they simply found a reason to remove him. So these are the issues we are talking about…"
Contrary to the lies of Alhaji Buhari, Sanusi wasn't removed because he raised alarm, he was removed because he was indicted by FRCN. Jonathan also never kept mute, he commissioned PWC to audit the books. Buhari was also blind to talk about prosecuting Sanusi for the CBN fraud. Perhaps the Emir is as "incorruptible" as him(Buhari)

The FRCN’s report on Sanusi


The decision to suspend the Central Bank of Nigeria Governor, Sanusi Lamido was based on a report of the Financial Reporting Council of Nigeria dated June 7, 2013.

The report was made after a review of Sanusi’s response to the query issued to him by the President over the apex bank’s financial statement of 2012. His response was dated May 20, 2013.

According to a copy of the report obtained by our correspondent on Thursday, the council indicates that the explanation provided by the suspended CBN governor is “a clear display of incompetence, nonchalance, fraud, wastefulness, and abuse of due process and deliberate efforts to misrepresent facts on the part of the leadership of the CBN.”

The council advised the President to exercise the powers conferred on him by Section 11(2)(f) of the CBN Act 2007 or invoke Section 11(2)(c) of the said Act “and cause the governor and the deputy governors to cease from holding office in the CBN.”

The report read: The particulars of the infractions against Sanusi are:

Persistent refusal and/or negligence to comply with the Public Procurement Act in the procurement practices of the Central Bank of Nigeria.

(A) By virtue of Section 15 (1)(a) of the Public Procurement Act, the provisions of the Act are expected to comply to ‘all procurement of goods, works and services carried out by the Federal Government of Nigeria and all procurement entities.’ This definition clearly includes the Central Bank of Nigeria.

(B) It is however regrettable that the Central Bank of Nigeria, under his leadership, has refused and/or neglected to comply with the provisions of the Public Procurement Act (PPA). You will recall that one of the primary reasons for the enactment of the PPA was the need to promote transparency, competitiveness, cost of effectiveness and professionalism in the public sector procurement system.

More from: http://www.punchng.com/news/the-frcns-report-on-sanusi/

Jaymaxxy:
Do you really care about the president?

Do you think that the president cares about you?
If he cared he would be treated here after budgeting so many billions for the Aso Rock clinic instead of running away for treatment in London and leaving us to suffer the consequences of his bad management.


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toyinjimoh:
goodluck is d king of corruption

Really?
You need to learn more of what is going on under Buhari.


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adem30:
Must you kill yourself because of Buhari health?

The dullard is already killing us with recession.
Rather than fix it, he ran away to London for treatment.


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AFTER he was nailed for stealing at CBN
Wayo man fooling gullible Nigerians since 1914 AD.
Why did he change the amount from $49.8 billion?

AdviserGeneral:
By JOHNBOSCO AGBAKWURU & JOSEPH ERUNKE

ABUJA—CENTRAL Bank of Nigeria, CBN Governor, Sanusi Lamido Sanusi, Wednesday, reversed himself from his initial declaration that the sum of $49.8 billion realized from the sales of crude oil between January 2012 and July 2013 and expected to be remitted to the federation account by the Nigerian National Petroleum Corporation, NNPC, was missing.

Instead, he said $12 billion was the amount discovered not to have been remitted to the account within the period just as he regretted that his communication to the president was leaked to the public.

Sanusi, who stated this when he appeared before the Senate Committee on Finance, to give insight into his letter he wrote to the president on the controversial missing money, said the letter did not indicate that the CBN had concluded its investigation on the matter.

But the Minister of Finance, Mrs Ngozi Okonjo-Iweala, countered the CBN Governor’s position, saying: “I just wanted to add that we found about $10.8 billion. He mentioned $12billion.”

Insisting that the letter was meant for the president to launch an investigation into the issue, Sanusi told the committee’s chairman, Senator Ahmed Makarfi: “I repeat, Mr Chairman, that we did not see the letter as a conclusion of our investigation but an invitation to investigate. So, the conclusion that $49.8billion was missing was wrong even though we had the allegation that it was unremitted.”

“Now, since then, a lot has happened. We have heard the Minister of Finance, Minister of Petroleum Resources, Central Bank, FIRS, CPR, we have set up technical team and has started a process of reconciliation and there has been a lot of progress in that process.

“I found it very unfortunate it was leaked to the press and the answer is ‘yes’, the CBN Governor did send that letter with those contents. By way of those contents, the Central Bank and Finance Ministry and the government were very much concerned over the years at the very low rate of accretion to the reserves in spite of very high level of oil prices and in particular, depletion of excess crude account in spite of what seems to be very high level of oil sales.

“Now, in investigation and trying to understand where those leakages were, our attention was drawn to a huge difference between what appeared to be export of crude made by NNPC and amount repatriated into the crude equity account of the federal government.

“The numbers were about $65 billion exported by NNPC and about $15 billion repatriated to Federation Account out of that. Now, in view with our duty as the banker of the government, we had the responsibility of alerting the president and request a thorough investigation of this matter, he said.

He further explained that “the major progress has been the provision of Monetary Policy Committee, PMC, by the MPC documents to show that even though they did ship that amount in question which is a little more $67 billion, about $24billion was actually not their crude but crude shipped on behalf of third parties like oil companies, tax in crude and also for third party financing and so, that already addresses half of the amount.”

“So, the second half is the issues around domestic crude lifting of $28billion from which we feel there is a short fall, there is a general consensus among us on this even though the amount has been disputed. For us in Central Bank, there is a shortfall of $12billion”, he disclosed.

But even with the amount, he said the CBN was still in the process of reconciling the amount.

“Now, we still are in the process of trying to reconcile that number and we have not even started talking of the sales, the export sales tax, which is about $2billion, which will come after the sales. The Finance Ministry has told us that even before now, there is ongoing negotiation and discretion with NNPC ad-hoc committee and these numbers have always been discussed at the level of Commissions of Finance.

“Since the objective of this committee and for all of us on this side is actually to get to the bottom of it and find out exactly what is the amount unremitted and what is to be done and recommend actions.”

He pleaded for time so that the CBN, NNPC and all relevant agencies come up with a collective figure.

“What I would like to do is, given the progress we have made, to request that we be given little more time to continue with this process and come back with the final position that is a common position among us if the committee will so grant us, ”he added
He was subsequently granted the request.

Speaking at the event earlier, Senate President, David Mark,noted that the controversial amount was still allegation but stressed that it was a serious one.
“At this point what we have is allegations but it’s a serious allegation. When Senator Adetumbi raised the point of order, I did not allow comment on the issue

“It’s for us to get facts so that when we come back we can make useful and meaningful contributions. The Senate has no positions on it, nobody knows apart from what was published in the papers, that’s why we want the committee to establish the facts, the committee, your body language and utterances must be seen to be totally neutral because we have no facts, we have no position on it, we urge you to observe the facts, “he said.


http://www.vanguardngr.com/2013/12/missing-49-8-billion-sanusi-makes-u-turn/

romme2u:
bros long time no see where have you been hiding. hope it is not what i'm thinking

What are you thinking bro?

They should say hello to the dullard who absconded from Aso Rock for ANOTHER treatment abroad while our doctors struggle at home despite the bogus amount budgeted for Aso Rock clinic.

Buhari Returns From Foreign Medical Treatment, Receives Speaker Tambuwal
MAR 18, 2012

Former military Head of State, General Muhammadu Buhari has returned from his overseas visit to his Kaduna base, and from where he has been receiving guests.



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