₦airaland Forum

seunmsg:
The point of argument is whether or not PWC was guilty of professional misconduct and of deceiving Nigerians. As far as I can see, PWC did nothing wrong. NPDC is a subsidiary of NNPC and from the report, they account for a substantial part of the oil revenue that was unremitted so, their books should also be scrutinised. But when they refused to cooperate, the auditor can only discuss their un cooperation with NNPC (the holding company) and the Auditor General who engaged them and am very sure they must have done that. You don't expect them to call a press conference during the course of the audit to inform Nigerians that NPDC is not co-operating. And the NPDC limitation was clearly stated in the report.


When conducting a special audit investigation into a case of missing money like this, you don't need to audit the whole organisation comprehensively. You only request for documents that are necessary to achieve the terms of reference as stated in the engagement contract. Again, I repeat, auditors only give report of their findings in a special audit investigation based on the terms of engagement. They don't give opinion on the truness and fairness of the account of the organisation. It's only NNPC's statutory auditor that can do that.

Ok. Fair enough. I think I understand you and I agree.

abu12:
You lied NPDC is the major culprit, NPDC is a subsidiary under NNPC,who failed to remit found 2 NNPC, NPDC is in-charge of subsidy payment and not nnpc. They are the once sanusi accused of not remitting found to cbn.

I agree with you but not really. NNPC tried to bamboozle Nigerians with what became of the 20B SLS complained of so they said 3 major things.

1. That 9.9B or so was used to offset subsidy bills accrued to kerosene.

2. That 5.11B was for NPDC whose assets from shell were sold and the money directed to NNPC (Parent company and not NPDC)

3. That they had various bills to offset like environmental remediation, Petrol Subsidy etc.

They claimed these 3 major things make up the 20B.

SLS refuted all these claims. He argued that Kerosene subsidy was cancelled by Yar Adua in 2009. He disbelieved the NPDC excuse and made the NA ask the then MD of NPDC if the 5.11B came to NPDC. The man denied it. Andrew Yakubu of NNPC could not even rebuff the man's denial. He simply said they would re-investigate it. Shortly after, the MD of NPDC was sacked. Your guess is as good as mine as to why that happened. The new one, Victor Briggs now refused to open their accounts to PwC. Same way Emefiele refused to do so with CBN account.

So PwC rightfully concluded that 1.48B is the minimum amount of money missing and should be refunded and they did so based on the little information they had at their disposal. A new probe will prove SLS right.

seunmsg:
PWC was contracted by the Auditor General and not the minister of finance. If you look at the terms of engagement as stated in their report, you will see that they were contracted solely to investigate and report on the alleged unremitted $20 billion by NNPC. They did that assignment very well and the disclaimer in their report is to the extent of third parties that may want to rely on the report. The report is solely for the Auditor General and nobody else. That, is the standard practice when conducting an investigative audit of this kind of nature. Bring in KPMG or Delloitte, they will issue the same disclaimer.

As regards NPDC that refused to open their books, PWC can't pull out of the assignment because of them. NNPC is the major organisation under investigation here and not NPDC which is just a subsidiary. The best they can do is to report on their refusal to cooperate and they did that clearly in their report.

You must also note that it is only in statutory audit that the auditor is expected to give his opinion on the accounts. In an investigative audit, the auditor only reports on his findings based on the terms of engagement.

Piffle. NPDC is as important as NNPC in this report because NNPC verbally (albeit unsubstantiatedly) claimed that 5.11B Dollars from crude sales and assets was on behalf of NPDC. So PwC would need to look at NPDCs account to corroborate the story and since they didn't grant them such access PwC cannot claim to have made any worth-its-money report.

Classicalman:
Illiterate commentators. Have any of you anti Jonathians gone through the report? Of course you are too lazy to read but have the strength to abuse.

Ignorant imp, we have gone through the report. We even created a thread to discuss it but you ignorant Jonathanians avoided that thread like a bad habit. Now you are here to feign you have any superior information. Hack!

seunmsg:
Instead of Blaming PWC, he should blame the Auditor General who came up with the terms of engagement and NNPC and NPDC who both refused to cooperate with the Auditor. Beside, the assignment was a special investigation of the alleged missing $20 billion and not a statutory audit. people should stop confusing the two together.

Don't bamboozle the audience. To forensically look for the 20B dollars they must of necessity audit NNPCs accounts and dealings. They are connected.

appini:
Continue to believe every cut and sow stories by the fraudulent gangsters you call progressives.

I told you to get delivered from the snares of ignorance. Did you not read the PwC report? Did you not watch the Senate hearing with Deziani, NOI and SLS in attendance?

So what are you saying?

In 2013, Okorocha's Imo received 5-7B per month from the FG in terms of FA. In 2014, he received 2-3B. That's more than 50% drop. My happiness is that we voted iut the major bane of Nigeria- GEJ.

appini:
The man that said so is about to take the mantle of leadership.. May God give you the spirit of truth to differentiate between a government of sincerity of purpose and an administration of deceit's and fraud.

Govt of sincerity indeed. The one that up till date GEJ, Deziani and NOI cannot tell Nigerians who authorised NNPC to keep paying billions of dollars as kerosene subsidy. Each says they don't know yet each approved of 9 Billion dollars since 2012.

May God deliver you from the snares of ignorance.

anonimi:
Abeg what initial capital are you blabbing about?

The exploration and exploitation is all done by FOREIGN companies who PAY licence fees to the FGN.

Another hopeless fool. What is a JV agreement? Let me expose you for who you are- a simpleton.

Truckpusher:
Lying to yourselves over and over and again doesn't still make it the truth.

Go and figure out how Nigeria's Oil Prospecting Licence is projected and later migrated to Oil Mining Lease and subsequently to her first appraisal drilling before coming into a public forum to embarrass yourself with your lies that you and your lazy folks keep churning out from your smelly asss.

I have no time to educate any iidiot in this forum.

Do you know what is funny? If I take you up on any topic on the oil and gas sector It would be clear to everyone that you and the other paid hacks know little below nothing. What you are trying to do is coerce me into educating you like you always try to do with Jpphillips.

You are a churlish NL irritant and an intellectual fugazi on all fronts with an inexorable penchant for vomiting piffle to your ilk of uninformed louts.

And compound fool, by 1903 with Shell D'arcy up to 1956 with Oloibiri's success there was something called an OEL. It has always preexisted OPLs. So pray tell us, where did the FG get the money to invest in a JV with Shell?

Scally wag!

anonimi:
So the JagbaJantis of Bourdillon robbed Lagos state and other APC states blind!
Thanks for the confirmation.

Surely baba One Chance will jail him sharperly, not so




Despite your LIE, there are so many almajiris roaming the streets in the north until Jonathan pitied them and gave them schools?

The north has to rely on a FOREIGNER like Bill Gates to help them donate money to eradicate polio etc despite your Buhari STORY of "donates a large portion to schools and charities"


You must think you are telling your bloody LIES to children whose brains have not fully developed

I enjoy tutoring fools but you are a compound fool and so it is a bit difficult. GEJ did NOT do anything for almajiris. You lived on propaganda for months and you still lost the elections, why do you think they will work now? The NGF (Governor's forum) headed by Amaechi set aside 2% each of their ECA allocations to help Almajiris. So keep your lies to yourself.

Speaking of Bill Gates, is it only in the North that his contributions went? Or because Onyebuchi lied and lied to Nigerians you went ahead and guzzled all the lies they had to tell? Well, Bill also contributes to HIV, Lassa Fever and even Ebola. So please redirect your criticism to GEJ for letting Bill Gates do all that for Nigeria while he was president.

I ignored the first statement about Jagaban because he has had political enemies from your deranged and derelict party for 16 years yet none could find him guilty of anything but being an astute politician and your party's Nemesis. Deal with it.

kodded:
this got me cracking like sirusly





for over 30 years after leaving the service of the head of state and working in nnpc the only number of people he has employed is over 40 ? .......... choi oboi na one chance be this o

Should he employ more people than he can afford to pay? Or Ok, he should have stolen Billions like Gbenga Daniels then invest it in Halliburton and now claim he has employed 1000 Nigerians?

Better a fool remain silent and be only thought a fool. Than for him to open his mouth to speak and remove all doubt.

ManUtdholic:
Lolz
U wan use laff kill me
USA is even having issues with job creation as they went all time low since dec 2013
http://mobile.reuters.com/article/idUSKBN0MU07X20150403

In March out of 246k jobs expected dey only added 126k which means u are not far from d truth

Hw will Daura man provide 3m jobs in 1 yr

"When you are digging grave for your enemy,dig two"

Another abject failure and posterboy for the olodoism movement. Where did he say 3M jobs in 1 year?

Truckpusher:
Omo! This one wey you dey swear up and down, e go better so?


These regions are used to collecting free monthly stipend from the FG on proceeds from Niger Delta oil ,why won't the citizens wait for direct handout from the FG to survive ?


Bushmeat go soon catch hunter.

The initial capital used to invest in the oil and gas sector in the ND was Nigeria's money - Not ND's money.

atlwireles:
I doubt if the entire western European economy created 3 million jobs last year. Yet some confused Nigerians are waiting for Buhari to create 3 million jobs. Some already have their hands stretched out for N5,000 and their hungry kids are waiting for free food. God don punish una this time. Make I siddon dey laugh.

GEJ and Deziani claimed they have provided 2M jobs since 2012. Please relay this your post to them I'd like to see their reactions.

ShowYourCertificate:
Why didn't people yearn for his leadership 4 years ago, 8 years ago and 12 years ago when he contested? Why now and not then? That's the question.

Because democracy was evolving and MOSTLY because GEJ was a colossal failure. Deal with it.

ShowYourCertificate:
Really? He cares for the masses? Tell me what he has done for the masses out of his free will after leaving government office? How many people did he employ? How many people did he empower? What is the name of his NGO? Even Atiku, a known crook, did some noteworthy projects for the masses after leaving office. But Buhari was only concerned about his cow. That man is a scam. I just pray God will miraculously transform him and use him to transform Nigeria. If not, we are doomed

GMB doesn't have big companies largely because he didn't rob Nigeria blind. Of his allowances as a former President and head of NNPC he still donates a large portion to schools and charities around Nigeria and he does them largely unannounced. Even his farm has more than 40 people working for him.

You are the only one that is doomed either ways. You are doomed because you seared your conscience for transient pecuniary gains. Come May 29th, your misery will be consolidated.

ShowYourCertificate:
We need to hold our politicians to their promises. No more promise and fail. No more one chance politics. Buhari must deliver or else...........he'll be branded a villian.

#BabaOneChance

You didn't vote for GMB. Let those who voted for him hold him accountable. You can busy yourself in Otuoke.

There's no stopping us now. I expect Sociedad to park the bus, and watch that bus get destroyed.

As it stands now, Pendulum's in our favor to be at the UCL final. Let's just put atleast a 2-goal margin between us and You know who, when we play the first leg.

Football san Messi

rusher14:
Nairaland polls 1, 2, 3 -GMB.

AIT/ Omokiri Polls - GMB

Thisday, Vanguard and Saharareporters.com projections - GMB.

Obas and Mai Ruwas - GMB.

March 28 elections - GMB

March 31 Jonathan says - GMB

April 29th Confession of GEJ "whosai".

Gbam.

Edoblakky:
Imagine GEJ towing the same line of Gmb and heading to court to contest the results without conceding defeat. Do you imagine the anarchy this country will be in now. GEJ is a far better loser than GMB who would rather encourage violence than concede defeat. One thing I know for sure: if GEJ had won even in a free and fair election, Gmb and APC would never have accepted the results as they were already set for war. In my opinion, GEJ losing was a divine orchestration to avoid anarchy and possibly a civil war.

Oga park well. GMB contested results not because he felt he won, but in order to keep sanitizing the electoral process. In Delta state after the 2007 Elections, the opposition lost by 800k votes and they contested it in the appeal court. The court rescinded the elections in 2011 and asked it to be redone. When it was redone PDP all of a sudden won by only 13k votes. This gave the opposition greater confidence to contest again in 2015, because the results showed that they were not as unpopular as the first results suggested.

That's exactly what GMB tried to do. To prove he didn't lose by 10M votes as the 2011 results suggested. It doesn't matter now. Nigerians have spoken and GEJ has seen what we had to say- GET OUT!

ENDTIMES:
Jonathan says some pdp members are being persecuted because he conceded defeat to Buhari, hmmm!!!

Is he referring to his abandonment by his 'best half'?

GMB who is not yet president, is persecuting someone else who instructed the Army to hide his certificate and insult some retired Generals like OBJ?

tolustx:
So they come out to call him a bad loser. Do they remember the actions of Gen. Buhari when he lost the 2011 elections to GEJ by over 10million votes? If u've not forgotten so fast, then who would u call the worse loser?
APC should learn to remove the log in their eyes b4 trying to remove d spec in anoda's.

Pray tell us, what did GMB do when he lost the 2011 elections?

PassingShot:
What should anyone have done with PVC collection?
Use of underage voters agreed but can that compare to inflation of figures in Rivers, Delta, and many SE states?
The non usage of card reader was prevalent in SS/SE which happens to be GEJ's stronghold and which resulted in the inflation of figures.

The fact is, had everything worked perfectly, GEJ would have lost by between 5 million and 8 million votes.

Bro, you are being too generous with these SaTANoids. Before February 14th, Prof Jega had already said he was prepared for the elections. He assured GEJ that he was more prepared this time around than in 2011 (which everyone largely praised), yet GEJ still postponed the elections. So what PVC collections are they talking about again? Before March 28, did the north have a high % collection rate? No.

Concerning the issue of underage voters, abeg which party used them? There is no evidence insinuating that APC used them. In fact, if we are to judge unbiasedly it is clear that the PDP were the one's to use the underage voters. The reason is simple - they were unpopular in those regions as evidenced by their campaigns, yet they still pulled far decent numbers than GMB could pull in the SS and SE where his campaigns were bigger and larger than they had ever been since 2003. Look at states like Imo, Edo and Rivers. PDP would only have marginally won in Rivers. They would have lost in the other 2 states. I don't even want to talk about Delta state that should have provided only 550k voters, producing 1.2M for GEJ. And he is talking about losing by only 2.5M votes, when he should have lost by 5M at least.

ShowYourCertificate:
Jonathan was able to manage our situation very well. We hardly witnessed fuel scarcity even during festive seasons. Now he has been voted out of office, it is now Buhari's headache on how to manage this fuel scarcity incidents. Let's see how the senile certificateless dictator will achieve this.

You are a goat whose dullness is of irredeemable dimensions. The cause of the fuel scarcity was not the oil marketers this time. It was the transporters of the product that have been on strike since Friday of last week claiming 20B Naira is being owed them by the marketers.

GEJ and his cronies have used this 156B largess to make their last dip into the national treasury in the guise of oil subsidy. Didn't he just pay 320B only 4 months ago? How often are the marketers paid the subsidy? Will you pay them all the money you owe them before Nigeria even makes the money?

Let them be deceiving themselves.

wirinet:
Ben Bruce,s opening sentence contradicts the whole body of the article. If you are loyal and appreciative of president jonathan, it means you appreciate his style of governance. So why the advice? why not ask Buhari to continue with the way jonathan was ruling Nigeria, So that you can appreciate him too.

Since Jonathan is his kinsman and he had access to him, why did he not give Jonathan these advices anytime during the 6 yr presidency of president Goodluck?

Please leave President elect Buhari alone, he does not need the advice of PDP members on how to run a successful government.

Gbam.

Guk:
Depressing!

How can he give such pieces of advice to an already prudent person like GMB whilst the person, GEJ, he pledges lifetime loyalty to was the most wasteful leader in Nigeria, someone who boasted of the number of Private Jets owned by Nigerians so much that we were the butt of jokes of the Kenyans. Why he never gave these pieces of advice to GEJ is obvious as he was heavily benefitting too!

Ben Murray Bruce does not have moral or professional standing to give anybody pieces of advice becasuse the state of NTA is an indication of his plundering of govt money

And there he was, Spotting a contradiction between being a progressive or a conservative. What a hypocrite!

deandavid:
this man is intelligent, these are the kind of people Buhari need around him, criticize constructively, he said those people who helped buhari win, might not be those who he will necessarily need to build the Nigeria of our dream, use our best brains, build on past govt's achievements, he has said, stop funding those useless holy land pilgrims(where only the elite benefits), reduce presidential fleets, cut cost of governance start from aso rock, then legislators will follow suite. the guy spoke well. Oga bruce abeg try. thank u

Why didn't he tell GEJ all these?

olalat:
We voted him, not because we expect some water to turn to wine instantly. We want somebody that will set new national order, new moral and behavioral standard. Put the country on the right path. He may not solve all our problems, but I'm sure he will give us irrevocable blue print to good governance. The cynists will be disappointed. Why is it that the people that did not believe in this man are the ones that raise the highest hope. Why are they hoping in what they don't believe in?

The emboldened is wisdom sire.

SomBaby:
Whatever...but while he is doing that, I on the other hand, am busy getting ready for this interview. Something tells me its now or never...
@ Eruditor, please check your mail and revert.

@ Kingteller please do same...

Used the content of the email to reply. Was a challenge remembering which email address I used for this account. Hence the late reply.

8 attempts 5 goals. That's efficiency.

Neymar is not overrated.