₦airaland Forum

how old is this picture - 1st question ?

Ifeanyispace: Nigerialand is filled with frustration and hatred. Just read through the comments. SMH

You are clearly the one that is frustated - if you approve of the president's lack of a brain

gej is lazy man who cant be bothered to read the previous committees report and what does he do " he sets up another committee to review the findings of the first committie " Or maybe committee formation is a way settling politcal friends

One day One Day - System will eventually crash as the load is too much

AN independent audit report has discovered how the Federal Government has continuously drained the accounts of the Nigerian National Petroleum Corporation (NNPC).




According to an audit report published by Reuters on Monday, the Federal Government was owing the NNPC some improper and informal loans, which were used to cover a range of expenses, from a presidential helicopter to maritime security.


The audit was prepared by an independent firm, which was given access to accounts of the NNPC as part of a government's transformation agenda aimed at improving transparency at the NNPC.


The Petroleum Minister, Mrs Diezani Alison-Madueke, had promised that the transformation of the debt-ridden NNPC would lead to an independent profitable company emulating Brazil's Petrobras or Malaysia's Petronas.


NNPC has an annual budget approved by the National Assembly. Other revenues it collects from its Joint Venture (JV) contracts are meant to be passed to the government accounts, but industry experts said powerful interests tapped the money before it could be sent through official channels.


According to sources involved in the external audit, who preferred anonymity, it would show outstanding debts owed to the NNPC by a number of ministries and state agencies. The company paid for a $14 million presidential helicopter, and is owed $106 million by the Power Holding Company of Nigeria (PHCN) and $124 million by a maritime security agency.


State governors had been threatening to take the Federal Government to court over illegal tapping of oil revenues that should be shared with local government.


The finance ministry and NNPC declined to comment on the debts and the presidency and oil ministry did not respond to requests for reaction.


"We are aware of many of these debts. Obviously it isn't an ideal situation," an NNPC source told Reuters on condition of anonymity.


"State agencies in debt to NNPC should be funded through the budget, so such loans add to transparency concerns.


"The NNPC needs its own funds to pay for joint ventures with foreign oil companies, some of which have made dormant due to a non-passage of the Petroleum Industry Bill (PIB).


"It does highlight the extent to which NNPC has been drawn into the more opaque areas of government and will give ammunition to those critics who say it has operated at least partly as a slush fund for government.


"It points to the huge difficulties in making independent a corporation with such a complex web of assets and liabilities, at least some of which appear not to have been contracted solely on a commercial basis." Antony Goldman, Nigeria oil expert at PM Consulting, said.


Numerous earlier reports and audits had concluded that corruption had been rife within NNPC. Last year, Transparency International and Revenue Watch ranked NNPC as one of the least transparent oil companies in the world.


Besides, the House of Representative report in May had uncovered a $6.8 billion fraud involving petroleum subsidy regime, which is partly run by the NNPC and Petroleum Products Pricing Regulatory Agency (PPPRA).


That report said NNPC was accountable to no one. It said the company owed oil traders, including privately-held Trafigura , $3.5 billion in unpaid bills.


http://odili.net/news/source/2012/jul/17/617.html

Wetin blacksta do - where you refering to the first Nigerian Jamine or Jamiu

Na family poverty cause am - man must chop - the other option would be to use my mother for money ritual

A55 licking to the core. Dont these ediots know that they stand out like a sore thumb. Has poverty ravaged us to the extent where all sense of reasoning has been lost

Oga Beaf - which copy be your own - na wa -

ok now - please stop this madness - okay let discuss the issues the poster raised

As somebody earlier stated that The chain of command is as follows " Perm Sec reports to Commissioner who then reports to the Governor "

One day One scandal - When you think ,it cant get this low another scandal springs out

na wa for this non intelligent thread sef - You people are killing NL - The fact remains Nigeria is at least 40 years back in terms of development and stop focusing on isolated cases.

After all the shout - Madam is still honourary Perm Sec. New title in the Nigerian history watch as the other governors follow suit.

foolish people - even the action of scooping will cause an ignition. Imagine scrapping a metal pan against rocks .

My Take

I will slap the next person that says GEJ is not corrupt. This is going to be the legit avenue created by Dickson to repay GEJ for making him the Bayesla governor. The post will somehow be allocated a budget to carry out useless projects thus creating anvenue to siphon raw cash.

In any sensible clime GEJ would have called the governor to order and instantly reject the post. Anyway these people know that Nigerians are masters when it comes complaining at the end of it Patience will still be the PS.

When abnormal things like this happens it simply means that Nigeria's health has gone worse and it is only partially surving because of the life support machine.

The end is definitely near.

When is the house going to impeach this president, people are dying in the north, Anti people policies is gradually killing the public.

Lol

Beaf, if you are really not laptop 001 prove the forum wrong by not attacking the personalities , what is your take on the matter. Appointments such as this only happens in banana republics , in sane climes it is called conflicts of interest

The More you look the less you see - Yet TAM contracts was awarded , what about the 24 Months deadline - You people dont know Nigeria at all. You just like giving yourselves Mental mastu buation ( that everything is working alright) which differs from reality on ground.

The More you look the less you see. I would hold my comment before i am labelled as anti GEJ or blood sucking boko haram worshipper

The same FG said them no dey the business of building refinery - which one now.

Clearly a lot of JJCs on this thread. fortunately many of us have seen the satellite pictures. Even Seun is tired of the pictures as some of those pictures are bandwith zapping hence you will hadly find any in the archives. The Almighty satellite pictures are definitely the way forward for Nigeria.

Yorubaland +edo + bayesla must join benin republic whether by fire or force.

Is it not so obvious when ones entire NL posts is dedicated to the defense of GEJ and his anti people policies . NL is too vibrant and diverse for ones entire post to be dedicated to a single topic. When person no be robot - do you not have any other interests.

Abeg how can i get the latest mac book laptop.

The only person fooled is yourself

Sycophants on NL have come go - yet the true posters still remain - Your laptop will soon run out of battery.

if i were Gej, i would instantly setup a committee to review my brain. Only people who have no plans to do the right will forever setup useless committee to stall the obvious

Magic confusion in progress -

Dimeji Bankole 10billion Car Scandal - Case at the Mortuary awaiting burial

Background

The reign of Bankole started with Nigerians praying for the new Gen.Yakubu Gowon of our time, he was seen as young, energetic and capable of steering the House to higher grounds.

The avalanche of scandals that followed made whatever that transpired in the other assemblies a child’s play as allegations ranging from money laundering to outright embezzlement became associated with the House.


*Dimeji Bankole
The first major problem the house had was the car scam that rocked it and it was eventually extinguished with all manners of fire brigade methods including threat to beat up the lawyer that brought the scam to public glare.

Glen Hoddle Saga - Dead and Buried - Criminals still at large.

Earlier, on Thursday 18 March 2010, it was reported that Glenn Hoddle's decision to walk away from a near-£1m contract to manage Nigeria at the 2010 World Cup has sparked a corruption investigation. Nigerian police are seeking statements from Hoddle and the agent who represented him, Olatunji John Shittu.

The police will also talk to Lars Lagerback, the former Sweden coach who took the job, and executives from the Nigeria Football Federation and the national sports commission.

Hoddle is believed to have claimed to the Nigerian state authorities that he came under pressure to arrange a bung for one of his new employers. Hoddle's allegation is said to be that, having agreed a US$1m (£650,000) short-term deal last month, an official told him it would be announced as US$1.5m.

Hoddle was informed he would have to return the £325,000 difference as a kickback.

The former England manager is said to have refused. Dr Bukola Saraki, a Nigerian state governor, says Hoddle approached him to report the incident before returning to the UK from Abuja. "When we met, Hoddle complained that he was asked to part with US$500,000 out of his US$1.5m [the contract fee to be paid] and that was the only way to do business in Nigeria," Saraki said.

Haliburton Report - Dead and Buried

Background

The case centres on engineering firm KBR, which admitted bribing officials.
KBR last year pleaded guilty to paying $180m (£115m) in bribes to Nigerian officials prior to 2007, when it was a subsidiary of Halliburton.

Outcome

Presidential Panel set up to look into the allegations of bribery of top Nigeria officials by Halliburton, and another report sent by the Economic and Financial Crime Commission (EFCC) to President Goodluck Jonathan are yet to see the light of the day. The whereabouts of both reports is currently a mystery.

Shortly after inaugurating his Advisory committee, the chairman, Gen. T.Y Danjuma told the then acting President Jonathan not to ignore the Okiro report, but few months after, pointblanknews.com learnt , Danjuma has been "properly briefed" on the implications on the party and the Presidential ambition of the President.

According to our sources, both reports became too hot to handle for President Goodluck Jonathan considering the caliber of people involved. Some of the indicted are Ex President Olusegun Obasanjo, Gen. Ibrahim Babangida, Abubakar Atiku, Ex NNPC bosses Gaius Obaseki, and Funsho Kupolokun, Former Petroleum minister, Don Etiebet and, Gen Abdulsalam Abubakar,

Anybody with the right thinking pattern can clearly see the hand writing on the wall. The fact remains, the fuel subsidy scam was clearly a way of financing the Gej election and unfortunately nobody is going to be prosecuted unless you like giving yourselves mental masturbation. The ultimate question remains why was it that under GEJ that the number of fuel importers increased from a mere number under 10 to over 100 companies and most of them with serious ties to the GEJ administration.

This Farouk/Otedola comedy is just another distraction in the attempt to bury the report in the cemetery of previous probe reports.

no wonder corruption is still on the increase in Nigeria - No plane fit carry that one.

Mad Country but potential to make money is seriously awesome.