₦airaland Forum

If not for any other thing,Okonjo Iweala is Old enough to be that brat's mother....

That Reps member deserves a very dirty slap...lwhat was he feeling like?..what kinda attitude is that...well am happy Okonjo kept her cool...

Symphony007: Ladies and gentlemen, today i saw the difference between the senate and house of representatives. I now know why one is higher and the other is lower. The senators were so gracious and respectfull. Everything went without a single distraction. They are really distinguished senators. Meanwhile the representatives are just kids. The section was noise,chants and jeers throughout. I think i understand why jonathan declined attending but i still think they would have shown the president a level of respect.

I have been saying this for ages thank God someone is seeing same thing now...You just have to give it to David Mark and the mature way he handles issues

Up APC!

Mr. Sanusi, Mrs. Okonjo-Iweala, and Mrs. Alison-Madueke
appeared before the lawmakers.

In a surprising shift, the governor of Nigeria’s Central Bank has recanted his claim that over $48 billion (about N8 trillion) proceeds of oil sales was missing, having not been accounted for by the Nigerian National Petroleum
Corporation, NNPC.

At a meeting with Senators Wednesday, Mr. Sanusi said an ongoing review of the relevant accounts between the CBN, the NNPC, and the Ministry of Finance showed that only $12 billion (N1.9 trillion) was missing as of yet.


The Finance minister, Ngozi Okonjo-Iweala, and petroleum minister, Diezani Alison-Madueke, who oversees the NNPC, were at the meeting.

Mrs. Okonjo-Iweala interjected Mr. Sanusi’s claim of $12 billion, and told the lawmakers the outstanding figure was $10.8 billion. Even so, she said the sum was not missing and would be accounted for as the meetings are ongoing.

The CBN governor’s claim in a letter to President Goodluck Jonathan a week ago, stirred outrage and prompted calls for immediate investigation. In the letter, Mr. Sanusi said the NNPC had failed to remit 76 percent of oil sales revenue for several months.

The NNPC denied the claim.

The CBN, NNPC and the finance ministry have met for days to examine the figures.

Mrs. Okonjo-Iweala said the outstanding areas will be
resolved during the break.

premiumtimesng.com/news/151676-breaking-news-sanusi-backtracks-says-n1-9-trillion-n8-trillion-oil-money-missing.html

Seun: This is very confusing. We need to get a TV set in our office.

Bia Seun...you no get TV for office...why?

This ongoing drama is too sweet ooooo

Dp

Dramatic Country....I swear I love this country

Lol...*grabs my popcorn*

Yeah...its time to act up as the boss....

The lawmaker also said the Senate was ready to receive
the president.

The Senate has dismissed the call by the All Progressives
Congress (APC) that the National Assembly should begin
impeachment proceedings against President Goodluck
Jonathan.

Addressing journalists on Tuesday in Abuja, the Chairman, Senate Committee on Media, Information and Public Affairs, Enyinnaya Abaribe (PDP-Abia), said the call was “utter rubbish”.

Mr. Abaribe made the statement after the plenary session
which was preceded by an executive session.

The senate spokesperson said during the executive
session, the senators discussed matters of urgent national importance.

On the status of the 2014 budget, Mr. Abaribe said that
the Conference Committee of the Senate and the House of Representatives met on Tuesday to resolve the matter.

A reliable source later told the News Agency of Nigeria that the committee had agreed on a 77.5 dollars benchmark.

The senate spokesperson had earlier said that when the
matter was resolved, the National Assembly would be open to receiving the budget from the president at anytime.

He said that depending on the situation on the ground, the senate could reconvene even if it was on recess.

“The senate has the Rule 1(b) which is part of our rules
and it says we have options at all times to regulate our
procedure.

“So, depending on the situation on ground, the senate, if
need be, will sit even on a Sunday.

“Of course, resolution of the matter also means the country will be in a position to receive the budget from Mr.President, this is what I can confirm.”

He said that the Senate would on Wednesday receive a
briefing from the security chiefs in a close session.

“The senate will tomorrow host, in a close session, the
leadership of the country’s armed forces for an interaction
with regards to the security situation that the country is
facing.

“After our interaction, if there’s need or if there’s
something that we have to let you (newsmen) know, I will also let you know tomorrow after the interaction with the security chiefs.”

He said that the national assembly would continue to
support the armed forces to be sure that the security of
every Nigerian was guaranteed.

Reacting to the statement made by the INEC Chairman,
Attahiru Jega, that elections might not hold in states under emergency rule, Mr. Abaribe said there was no need ƒσя speculations.

“I will not go into the realm of speculations. But I can say
that the state of emergency is for every six months and
then it will be reviewed.

“I believe that before any election will hold, that six months for a state of emergency would have elapsed and then we will also look at what the position is.

“So I don’t think that it will be right, at this time, to
speculate on what is going to come forth in a year’s time
because we know and we assume that things must have
stabilised by that time.”

He said part of the briefing that the senate would get from the service chiefs would also include knowing what the security situation was in all parts of the country.

premiumtimesng.com/news/151649-calls-jonathans-impeachment-utter-rubbish-senate.html?utm_source=&utm_medium=twitter&utm_campaign=calls-jonathans-impeachment-utter-rubbish-senate

Good development....

Ozonna: . Please tell me you are not joking

Heard it from a friend who is well placed...can't say more than that for now

Great development...now the next thing is to ensure Paddy is available and in sufficient quantity for these Mills...Can't wait for us milling enough rice for our local consumption and also for exports

Heard Lufthansa Airways will start flying into Enugu this Xmas....

“Shagari was overthrown amidst lies….The greatest shame of this country is Ajaokuta Steel Complex. If
Shagari was there, by 1986, he would have completed Ajaokuta.”

This caught my attention and is very true..till today we know how Ajaokuta have been struggling..Our plans to become a highly industrialized nation thwarted...

Let's also not forget...the tenure of Lateef Jakande who is adjudged the best Lagos state Gov in living memory was truncated...we all know what happened to his Light rail project and how over 20 years after,Fashola is still struggling to complete it

You must give it to him...dude is good but very mischievious

mascot87: Political platform on Ray power every morning is also biased with useless set of people talking trashes.What they don't understand is that there opinions are very useless and the mind of people has being made up regardless of whatever rubbish they are saying. They are all pro-GEJ and anti Opposition,I am sorry to say but they are fools and they cannot brainwash us

Carry your frustration elsewhere biko...people who listen to political platform know far better...first there is a listener's corner where mails of listeners are read and those mails are well mixed....now coming to the presenters they are also well mixed,Ohieri is a neutral,Amaechi Anakwe comes down very hard on govt,Mustapha Mohammed does same,Uju Eje is a neutral...the only person on the crew who you can accuse of been pro-govt is Ehiedu....

So stop this trash you spew here

I agree totally..this "shoeless" man must go...

Where was he when we formed NADECO and fought Abacha?...Did he know of our struggle during June 12?...Does the "brat" know we spent time in prison and some even went on exile just to give birth to this democracy?.....

This Otuoke boy who wears the "creek jersey" must go

In this regard, we have noted the undisguised threat by the APC to foster public insurrection against the Federal Government if pending legal cases go against it.

We urge Nigerians to take special note of this boastful
indication of an intention to resort to lawlessness.

The Presidency warns that the APC and any persons who
make themselves its willing tools for the breach of public order and safety will be made to face the full sanctions of the law.

Those who are threatening fire and brimstone should be
ready for consequences of treasonable action.

This quote is the reason why reference was made to treason...it was not about the touted impeachment..

Make una dey try comprehend before rushing to comment...

My sentiments exactly...he is not the best I would want as the president of this country,but he represents a paradigm shift,a break from the old order...

DerideGull: Slow

If there were competitive bids for the production of the costumes worn by those dewy-eyed chaps, there would have been smiles on the faces of the would-be cassava factory staffs. Instead the chaps are pinched into submission by poorly sewn costumes.

Dede you no go kill me ...abeg make una leave me make I laugh

Happy birthday bro..wish u the best life has to offer

Sahara reporter of lies misled us all..they made us believe Jonathan did nothing for over three months to address the issues Sanusi raised in the so called letter..but paragraph 5 & 6 of this CBN rejoinder revealed them for exactly who they are...Liars!

5. The CBN is aware that, on the instruction of the
Honourable Minister of Petroleum Resources, the audit
firm, PWC has been directed to audit the revenues of the
NNPC.

6. The CBN is also aware of a proposal to set up a
technical team made up of representatives the Federal
Ministry of Finance, the NNPC and the CBN to examine the sources of any revenue leakages and propose appropriate fiscal controls.

CENTRAL BANK OF NIGERIA

The attention of the Central Bank of Nigeria has been
drawn to an emerging public discourse around a
letter purportedly written by the Governor to His
Excellency the President of the Federal
Republic   of Nigeria, Dr. Goodluck
Ebele Jonathan, GCFR, expressing concerns over
non-remittance of oil revenues by the Nigerian
National Petroleum Corporation (NNPC).

The Central Bank of Nigeria will neither confirm
nor deny the existence of such a letter and
considers any discussion by it on the alleged letter
to be inappropriate.

However, to the extent that the matter is gathering
momentum in the public space, and seems to be
assuming a highly politicized dimension, the Bank
wishes to issue the following clarifications:

1. The CBN is statutorily mandated to establish
price stability, protect the external value of our
national currency, manage the external reserves of
the Federation and ensure the smooth functioning of
our financial system, as well as adviser to the
President on economic matters.

2. The capacity of the Bank to perform its role
effectively is strengthened or undermined by the
extent to which the nation is able to increase
foreign exchange earnings and savings from
these earnings, thus boosting the Excess Crude
Savings Account, raising reserve levels, providing
currency stability and moderating interest rates with
limited risks to inflation and financial stability.

3. In the performance of this role it is natural for the
CBN to be concerned at the low level of accretion to
reserves and the Excess Crude Account, inspite of
strong international oil prices, especially as Nigeria's
performance is compared with other oil producing
economies.

4. The Central Bank of Nigeria is aware that this
concern is shared by Mr. President, the Federal ;
Ministry   of Finance, Ministers, State
Governors, legislators, economists, analysts and all
stakeholders involved in managing the economy and
discussions on how to address the matter are being
held at highest levels of Government.

5. The CBN is aware that, on the instruction of the
Honourable Minister of Petroleum Resources, the
audit firm, PWC has been directed to audit the
revenues of the NNPC.

6. The CBN is also aware of a proposal to set up a
technical team made up of representatives the
Federal Ministry of Finance, the NNPC and the CBN to
examine the sources of any revenue leakages and
propose appropriate fiscal controls.

7. The CBN welcomes these initiatives and believes
that they represent a positive contribution to the
process of improving the management of the
economy, especially if they lead to greater
oversight   of the Finance Ministry
over oil revenues and improvements in disclosure
and transparency in the Oil Industry.

8. The Central Bank of Nigeria recognizes that
there is an urgent need to review fiscal terms of
sharing revenues between the Federal Government
and oil companies and to improve governance and
transparency in the official oil sector. This
underscores the need to urgently pass a Petroleum
Industry Bill (PIB) that addresses fiscal terms and
the structure of the NNPC. We therefore support the
effort of the Federal Government to pass a new PIB.

9. The CBN will continue to use appropriate channels
of communication in these matters and hereby
assures all stakeholders in the country, of its
continued support in all efforts aimed at strengthening
the Nigerian economy and reducing its
vulnerability to shocks from the external sector.

10. The Central Bank of Nigeria will not issue further
statements on this matter and urges the general
public to avoid unnecessary politicization of a
technical matter while awaiting the outcome of on-
going consultation and reviews.

Ugochukwu Okoroafor,
Director, Corporate Communications

mobile.saharareporters.com/news-page/nnpcs-missing-498-billion-cbn-stands-its-allegation-says-president-jonathan-shares-banks-

Much ado about nothing...after the whole charade like the alleged missing Sure-P funds,we would know who the jokers are

kenlash1: ur statements alone doesn't even convince u, aw many yrs has SLS spent as CBN president? So u mean he doesn't Knw wat to expect as returns from crude sales?

CBN doesn't get its data on crude sales figure from NNPC but from foreign press..remember on this rebuttal by NNPC,they stated that Sanusi understated the total crude oil lifting by 4.13%... According to them 618.55m barrels was lifted against Sanusi's quoted 594.024 million barrels..So you can see clearly that there is a communication gap between both organizations

I just wanna understand something..

Please have we gotten to the point that the person who makes an allegation is definitely right no matter how cogent and convincing the rebuttals are?

NNPC's rebuttal is on point...explains everything clearly..now can this propaganda be shoved down to the gutters where it belongs?

HNosegbe: In the final analysis, I don't think "Jonathan is the best thing to have happened to the North since Gowon" is the appropriate title for this thread.

How would you caption it

Let's even try rationalizing this laughable report

1) Does total revenue equal profit?...Pls note that it is profit that goes into federation account

2) Now even if total revenue equals profit,this report is trying to make us believe that 100% of Crude sales goes to FG.Does it mean IOCs and other indigenous oil companies no longer operate in Nigeria?Does it mean that Joint Ventures (JV) and Production Sharing Contracts(PSC) between Govt and oil Companies don't exist?

Pls when you wanna do propaganda try not to insult out intelligence..we all are not dumb

enigmang: I envy the company(s) that got the contract

Lol..see this dude problem..Guy you get security contracting firm?