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Jay5000's Posts

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RomanceRe: Nigerian Guys That Bash Nigerian Girls? dum-bass Naija men by Jay5000(m): 4:10am On Jan 24, 2012
Noticed it in the UK. African men almost always stay away from 9ja ladies 4 reasons best known 2 dem n not because we tell dem 2. 9ja guys on d oda hand don't have any problems gettin girls from oda African countries or anywhere else. Dunno y cos 9ja girls are gdlukin n curvy. Maybe its because 9ja girls r too hostile, too aggressive or too demanding or simply have attitude problems that dey are oblivious of, and d average 9ja guy has gotten immune to. Wateva d case, it seems 9ja guys r the only ones dat can still love 9ja girls in spite of all d drama, so uv got to give us some credit 4 dat. Many of u won't last a week with other African men.
PoliticsRe: Oyedepo Sends God’s Judgment Missiles Into Boko Haram Camp by Jay5000(m): 7:50pm On Jan 23, 2012
I must say it is absolutely disgusting to see Christians spewing out threats and curses at the slightest provocation. Some Christians really need Jesus. It's ironic, but true. cry
RomanceRe: Is It Genuine Or Is He Just Convenient? by Jay5000(m): 6:49pm On Jan 23, 2012
slimyem:
girl D tried her luck with boy A but it didnt catch.
Boy A doesnt have to tell boy D anything.boy D should be able to take care of himself.
Let people make their own mistakes.it should not be boy A's headache.
What if Boy D (Mr. Responsible)was your brother? Would you let him go out with, and probably marry the cheerful giver (girl D) so he can learn from his mistakes? And by the time he learns from his mistakes, don't you think you would have succeeded in reducing the number of responsible 9ja men that our 9ja sisters are so desperately searching for? undecided
RomanceRe: Guys, Do You Find It Offensive When Your Woman Tell You She Doesn't Need You? by Jay5000(m): 11:15am On Jan 21, 2012
grin Not in 9ja. Here, even ifa 9ja woman makes a fortune, she'll keep it to herself and be quick to remind you that it's your responsibility to provide for the family. The only time the money comes out is when they need to spoil themselves or the kids (not you). This guy should be happy he has a wife like this.
RomanceRe: Nigerian Girls We Should Copy The Way French Women Eat by Jay5000(m): 10:55am On Jan 21, 2012
Mynd_44:
I guess I am always touchy when I hear the word GARRI
grin grin grin grin grin grin grin grin grin
RomanceRe: Nigerian Girls We Should Copy The Way French Women Eat by Jay5000(m): 10:54am On Jan 21, 2012
Tosinville:
Most of you all are hilarious, must white always lead us in every ways?this is africa for goodness sake & we should've our own way of doing things e.g eating, dressing etc. Being skinny maybe sexy for white folks but its not mandatory a black woman should follow their own ways by eating 2slice of bread 4 breakfast to look healthy too tho! exercise is good. Sincerely, i prefer a lady being thick or curvy (Not those wit pot-bellies) then a skinny woman that look like a toothpick & same applies to most west african guys.

Tell me why would i drop that thick girl in (Adanma video) by Flavour & go for angelina Jolie?

Tell me why would i drop the thick girl in (5&6 video) by Naeto C and go for Hillary Duff? i dey craze? abeg i be african man and i love meat in the right places.
a lil flesh is good, but like they say, ''too much of anything is bad''. If a girl is single and a size 10-14 perfect; 16 and above? i'll pass, thank you. Wouldn't want her transmogrifying into a Yokozuna when we're married with 2 kids, but that's just me though. And 4 d record, i think Hilary Duff has a lot of flesh compared to other hollywood celebs.
RomanceRe: Nigerian Girls We Should Copy The Way French Women Eat by Jay5000(m): 10:28am On Jan 21, 2012
I realized Naija girls have big tummy and all. Nigerian women should avoid eating garri and soup, fufu etc and eat like French women who hardly eat fat food
@Mynd_44. Maybe if you read the original post, you'd have realized I wasn't referring to yours. Guess you need the hot pan more than i do don't you think?
RomanceRe: Would You Date Or Marry A Nigerian Girl If She Smokes And Drinks? by Jay5000(m): 9:41am On Jan 21, 2012
Smoking is always a deal breaker 4 9ja men when choosing a wife. Even a chimney(chain-smoker) in 9ja won't marry a girl that smokes. Even he will tell you it's just wrong despite how ironic it sounds. Dating is different. He can date you but u can be sure he won't marry u. The drinking part is cool as long as she's not an alcoholic. 4 me, i can date a girl that drinks or smokes but i won't marry a girl that smokes. Don't want to have ma baby asphyxiated or disfigured in d womb. Sorry. Also a few puffs occasionally doesn't count as smoking 4 me. Personally indulge my gf with one or two puffs of ma Hoyo De Monterrey once in a while. grin
RomanceRe: Nigerian Girls We Should Copy The Way French Women Eat by Jay5000(m): 9:11am On Jan 21, 2012
Don't blame it on the garri. Blame it on overfeeding, impulsive eating and lack of discretion. Most 9jans (men and women) don't stop at 'satisfied', they keep eating till they get to 'belle-full'. That being said, one expects 9ja girls to have some self discipline when it comes to eating, especially considering the fact that it's a lot harder for them to lose weight compared to guys. Sadly this is not the case. This problem is particularly made worse by all the junk they stuff into their bodies when they go out on dates (90% of which involves some kind of eating), and their lack of interest or enthusiasm for exercising or sports. While it's understandable that some people cant help being fat (either due to medical or metabolism issues), its mainly the food that makes them fat. If not, how else can you explain skinny-size-8 9ja girls with big bellies? Junk food is not your friend my friends. Eat healthy and exercise. It'll help
RomanceRe: Why Do Blackmen Have Very Poor Taste When They Date Outside Their Race? by Jay5000(m): 9:43am On Jan 20, 2012
The reason is simple, "kpali!!!". No one gives you papers/passports/visas/resident permits faster than these fat and/or ugly women. 90% of them Africans in diaspora do it for documents. Most of these women are invincible to their own race and although they are aware of the motives of my African brothers, they just try to enjoy themselves and take all they can get while the (arrangee) relationship or marriage lasts.
FamilyRe: Married But Fond Of Another Man by Jay5000(m): 9:57pm On Jan 19, 2012
It’s not just good enough as a man to have a 12 inch something (excuse my lewdness) or just good enough to give her heaps of soup money and buy her a jeep and think that you are done in making your woman happy or fulfilled.
For a lot of women, these will be more than enough and will make them happy and fulfilled.  grin grin grin

I read your comments and frankly all i can see is just "we, we, we we, " or "i want, i need, "
Never a mention of what your man wants or what you'll be giving or offering him.
Neways, If he doesn't get anything from you, he'll probably go looking for it outside while you're still busy compiling your list of demands.
Seriously think women are getting more and more selfish by the day,
I'm pretty sure your mama didn't get up to 50% of the attention an average woman gets today and yet they had a fulfilled life.  I guess your idea of happiness and  fulfilment is having your man on a leash.  God help us
IslamRe: Media Contributes To The Bad Image Of Islam. Why? by Jay5000(m): 12:19pm On Jan 19, 2012
Sad Dumbed-down Nigerians fighting each other along tribal and religious divides just as they have been brainwashed and programmed to do by the ruling elite. Sad Nigerians never learn. The few cannot control the many. They manipulate the many to control themselves. Classical Hegelian Dialectic - always works on ignoramuses. Keep fighting along Ibo/Yoruba/Hausa/Ijaw/Niger-Delta/Christian/Muslim/Orthodox/protestant/pentecostal NW/SS/SW/SE divides and see if it gets any of us out of all the hardship and slavery that has been imposed on us by the ruling elite, thanks to our ignorance. These guys are sucking us dry at the top and here we are fighting each other. Until we open our eyes and break out of this religious/ethnic/regional divide-and-conquer control grid, we will forever remain slaves to the ruling elite.
PoliticsRe: Alliance Of Igbo Youths Accuse Fg Of "toying" With Ndigbos Lives by Jay5000(m): 12:15pm On Jan 19, 2012
sad Dumbed-down Nigerians fighting each other along tribal and religious divides just as they have been brainwashed and programmed to do by the ruling elite.   sad Nigerians never learn. The few cannot control the many. They manipulate the many to control themselves. Classical Hegelian Dialectic - always works on ignoramuses. Keep fighting along Ibo/Yoruba/Hausa/Ijaw/Niger-Delta/Christian/Muslim/Orthodox/protestant/pentecostal NW/SS/SW/SE divides and see if it gets any of us out of all the hardship and slavery that has been imposed on us by the ruling elite, thanks to our ignorance. These guys are sucking us dry at the top and here we are fighting each other. Until we open our eyes and break out of this religious/ethnic/regional divide-and-conquer control grid, we will forever remain slaves to the ruling elite.
FamilyRe: Married But Fond Of Another Man by Jay5000(m): 12:33am On Jan 19, 2012
@Winona; I'll advise you to run while you still can, because if you hang around temptation long enough you'll most likely yield to it. You can't resist this kind of temptation easily so stay away and stop lying to yourself that you can just be friends with this guy.Truth is, if you yield to the temptation, there's no way you're going to win in the end. Adultery keeps getting sweeter and sweeter (especially for women, because of their emotional attachments) till it consumes and destroys you. Dunno why, but that's just the way it works. And i'll guarantee you that when the proverbial "sh, hits the fan", he'll definitely run back to his family and you'll most likely lose yours and end up alone. You'll also have to deal with the guilt and the heartbreak that follows but they too will be nothing compared to the venom and the stigmatization that will be unleashed on you by society. And if you blow this marriage, what do you think are the chances of you getting another one, not to talk of a better one? Well, that being said, if you still want to "collect", you can, as long as you're ready to face the dire consequences of the "collection" when you're caught - cos you will. It's always a matter of time. Best of luck.
PoliticsRe: Do You Think Pdp Will Win Presidential Come 2015? by Jay5000(m): 11:45pm On Jan 17, 2012
N100,  notebooks, sachet milk, pens, etc; and Nigerians will sell their mandate and even their souls to this disgusting ilk. The problem is not PDP.  It's a Nigerian problem, although most of us won't like to admit it. I think it'll be more effective if people start by occupying their L.Gs, States, Universities, etc b4 getting to the national level.
HealthRe: My Brain Is Not Shoting Down At Night Pls Help. by Jay5000(m): 11:32pm On Jan 17, 2012
Get a terminator Zapper by don croft if you can afford it. strap it on and you'll sleep like a baby.Its a 9v battery operated device you strap on your arm or any part of your body. Got this particular zapper cos it Contains Orgonite (google 4 more info) which relaxes the body, gives you a positive aura (dats wat u're lookin 4), eliminates depression and migraine, cures insomnia,  balances your ying and yang and also kills parasites, bacteria, fungi and a lot of other funky stuff in your body.  Colloidal silver mainly boosts your immune system to fight diseases. I don't think it helps with insomnia. These are all suppressed medical discoveries that are very good for you. Unfortunately, they are "bad market" for the powers that be (big pharma, ),  so you'll never see them advertised anywhere on mainstream media. My terminator zapper cost me approx 100pds on ebay (incl. shipping from US to UK). Been in 9ja 4 10wks and counting and had many mosquito bites. Still waiting 4 d malaria. You've go to act fast cos the more you lose sleep the less melatonin hormone your body secretes and the worse your insomnia gets. You must sleep in the dark also (lights off), because your body secretes far less melatonin in light (dat's y it's called the dark hormone) and you really dont want that cos you'll age faster, might experience hair loss, depression and all,  Also for added knowledge, google other suppressed medical cures e.g Bob Becks Protocol, Blood electrification, Blood oxygenation, Essential Minerals, and vitamins, Essential fatty acids, THC (the active  chemical in Marijuana). You'll be glad you did.  Goodluck
PoliticsRe: Labour Calls Off Strike! by Jay5000(m): 1:54pm On Jan 16, 2012
I guess the Ibos have been justified in opting out of this farce. Apparently,the learnt a good lesson from the civil war. All those who died in these protests did so in vain. Labour and TUC have been compromised with cash as expected.  Pengassan Sold out as expected and the Global elite received their steady supply of crude oil while the strike lasted. The police, army and militants shielded the corrupt ruling elite as usual. The presstitues continued the misinformation and bias as usual. More armed robbers and kidnappers will join the league to cushion the effect of the subsidy.  The economy lost billions of dollars and yet, tomorrow everything will be back to normal. GEJ and his ilk have had d last laugh. I must thank Nigerians for the 1 week break though. I hope by now that Nigerians will realize that you don't revolt until you're actually ready to die for freedom, and that will be a long time coming for lily-livered Nigerians. Now back to our police state dictatorship, where everyone suffers and smiles. grin
PoliticsRe: We Will Defend Jonathan With Our Blood - Asari-dokubo by Jay5000(m): 12:03am On Jan 16, 2012
It's almost impossible to find an objective Bayelsan capable of any level of critical thinking. Most of them, like many other Nigerians, have been indoctrinated deeply with regional and ethnic sentiments that they will agree that "the sky is green and grass is blue", as long as a "kinsman" or their leaders (e.g Asari Dokubo or Clark)said so.  I expected Jonathan to thoroughly address the issue of underdevelopment and neglect Niger Deltans have been subjected to for decades but he has done absolutely nothing for his people. The East-West road (the only major route through the region) is a disaster. No roads, no bridges, no power,  no security, no improved marine transportation, nothing. Even when subsidy was in place, petrol sold for up to N300 in the creeks and has doubled since January, while their "kinsman" is the president. GEJ has failed the ND people more than any president (including OBJ and Abacha) in the history of Nigeria, and yet, here they are threatening hell if he is removed. They forget that Nigerians, especially southerners fought for him during the Yar'adua saga and voted him into power in the last election. What they also don't realize is that it is impossible for Niger Deltans to defeat 9ja in an open war; and that reason they have gotten away with all the militancy is because the government has always tried to deal with the issue diplomatically and within the dictates of democracy. If ever the situation degenerates into a full blown war, they will be shelled, starved and slaughtered waaaay faster than they think; just like the millions of Ibos during the civil war. Apparently, they learnt nothing from Odi.
PoliticsRe: Breaking News! Petroleum Minister Invites Efcc To Investigate Pppra by Jay5000(m): 11:03pm On Jan 15, 2012
She's absolutely certain that EFCC has been seriously compromised and that nothing will come out of the investigation, that's why she's inviting them to come and investigate. How many people have been prosecuted by EFCC in this regime?
PoliticsRe: Multi-million Dollars Hidden Bank Accounts Of M.o.j Bello Adoke Exposed! by Jay5000(op): 3:10pm On Jan 13, 2012
If this relatively ordinary guy in this administration has up to N15billion in 4 accounts, imagine what the others (Okonjo, Die-zani and the rest of Uncle Jona's ilk) have in their accounts.
PoliticsRe: Multi-million Dollars Hidden Bank Accounts Of M.o.j Bello Adoke Exposed! by Jay5000(op): 2:54pm On Jan 13, 2012
See where all the money goes,
PoliticsMulti-million Dollars Hidden Bank Accounts Of M.o.j Bello Adoke Exposed! by Jay5000(op): 2:53pm On Jan 13, 2012
NEWS REPORTS PRESS RELEASES
Home » News & Reports » News

Multi-Million Dollars Hidden Bank Accounts Of Jonathan’s Minister Of Justice, Bello Adoke Exposed-iReports-ng.com
Posted: January 13, 2012 - 12:23

By iReports-ng.com
Barely 48 hours after an online publication exposed the sordid details of a N1.2 billion mansion just purchased by President Goodluck Jonathan’s Minister of Finance, Ngozi Okonjo-Iweala,in Maitama area of Abuja, ireports-ng.com has uncovered four secret bank accounts where billions of naira, millions of US dollars and GB pounds are hidden by current Nigeria’s Attorney General and Minister of Justice, Mohammed Bello Adoke.

Adoke was appointed as Justice Minister by President Jonathan on April 6, 2010 and has since then been enmeshed in various allegations of corruption and providing cover for the corrupt who are facing court trial by withdrawing corruption charges against them.

Weeks of underground investigations by ireports-ng.com have however revealed more shocking details about Adoke’s secret bank accounts in the nation’s federal capital territory, Abuja. One of such is an account number 002228052782 at a branch of First City Monument Bank located at Plot 252 Herbert Macaulay Way,Central Area Abuja. In the account is a stunning sum of $16 million US dollars.

Further investigations revealed that Adoke is keeping yet another $24 million US dollars in account number 041152000428 with Diamond Bank located at Plot 117 Adetokunbo Ademola Street, Wuse 2 while another 5.3 million Great Britain Pounds is also kept in the same account with Diamond Bank.




As if that was not enough, ireports-ng.com also revealed that Nigeria’s Justice Minister operates another secret account with the Ahmadu Bello Way branch of Zenith Bank, Abuja where a whooping sum of N6.2 billion is being kept.

Born on September 1st,1963, Adoke was not known for any serious legal practice until he was brought to the limelight in 2010 when he was appointed as Justice Minister by Mr Jonathan. Since then, there has been series of allegations of under the table deals by Mr Adoke using his official position. He has in the last 48 hours issued two statements to threaten protesting Nigerian workers to sack them and charge civil society activists involved in the protests with treason.

Last year, an online publication accused Adoke of taking bribes from an arranged sale of moribund NITEL property in Area 11, Abuja and buy back of same from Adoke’s kinsman popularly called Alhaji AA Oil. Adoke’s share of the deal was said to have been diverted to build a massive mansion for him on Gana street, Abuja. Though he denied ownership of the property saying it belongs to AA Oil, finishing works have since stopped on the sprawling property which was being worked on day and night before the scandal broke out.

Also last year, a civil society group called Coalition Against Corrupt Leaders,CACOL petitioned Nigeria’s anti-graft police, EFCC to probe allegations that Mr Adoke collected bribes running into over $23 million US dollars from a plea bargain deal he arranged between government and some multinational firms including Siemens, Halliburton and Julius Berger.Ironically, Adoke supervises the EFCC that is supposed to investigate the various corruption allegations against him. It is yet to be seen whether the present head of the agency, Mr Ibrahim Lamorde will have the courage to probe graft allegations against Adoke which his predecessor failed to touch
PoliticsRe: Breaking News. Strike Continues As Meeting Between Labour And Fg Ends deadlocked by Jay5000(m): 6:15am On Jan 13, 2012
iluvnaija:
next time nigerians should vote candidates with the best record and not where you come from or who are your parents and that is exactly what put us where we are now.
Thank God i never voted that pun k  a ss mother fucke r.
Funny thing is, come the next election, Nigerians will still go to the polls and vote PDP right back into power.  Some will sell their conscience for as little as N50. Others will do so because of religious, regional and tribal sentiments. Nigerians never learn.
Christianity EtcRe: 200 Pastors Resign From Oyedepo's Winners Chapel by Jay5000(m): 11:12am On Jan 12, 2012
You guys should leave him alone. Can't you see he is trying to cushion the effect of the fuel subsidy?
PoliticsRe: KPMG Report That FG And NNPC Hid From Nigerians by Jay5000(op): 10:47am On Jan 12, 2012
Abbott:
That document is not the real deal, it is a mild and diluted copy of the real thing.
You may be right because these figures don't do justice to the monumental scam going on in that industry. It at least gives us an idea of what is going on and who the members of the elusive "cabal" really are. It's unfortunate that this disgusting scum GEJ and his ilk have not realized that all hell is about to break loose.
PoliticsRe: KPMG Report That FG And NNPC Hid From Nigerians by Jay5000(op): 2:53am On Jan 12, 2012
Beaf:
This is exactly why GEJ is deregulating. NNPC is going to be scrapped after PHCN.
Corruption and disfunction of this magnitude are some of the things Nigerians should be protesting about. They shouldn't be protesting about the medicine.
No Economic policy, no matter how good it looks on paper, will work in a nation where individuals can pocket billions and get away with it. The only thing the deregulation is going to achieve is double digit inflation (effectively devaluing the currency and making the nation poorer) and more looting. As for the sale of PHCN, and all the others BPE sold in OBJ's regime, these guys build up these corporations with your money, sabotage these corporations continually, and then turn around and tell you that the only way it can work is if it is privatized. At the end of the day, the same cabal purchases them for peanuts with your stolen billions and yet Nigerians celebrate because of the years of engineered frustration PHCN and the likes have subjected Nigerians to. It's pure and simple propaganda; a classical case of problem-reaction solution. Try googling the phrase "Hegelian Dialectic". It'll better explain how the global elite use these left-right, Christian-Muslim, regional and ethnic divisions to manipulate humanity into helping them achieve predetermined ends. It didn't start today, and unless we educate ourselves and break out of that dialectic, we will forever be slaves to the ruling elite.
PoliticsRe: KPMG Report That FG And NNPC Hid From Nigerians by Jay5000(op): 2:17am On Jan 12, 2012
Only in Nigeria!!
PoliticsKPMG Report That FG And NNPC Hid From Nigerians by Jay5000(op): 2:13am On Jan 12, 2012
Source: http://africanspotlight.com/2012/01/the-damning-kpmg-report-fg-nnpc-do-not-want-nigerians-to-see-premium-times/

Download Report in pdf: http://africanspotlight.com/wp-content/uploads/2011/12/Consolidated-Detailed-Findings-v1.pdf


The Damning KPMG Report FG, NNPC, Do Not Want Nigerians To See – Premium Times
January 11, 2012 4:28 AM43 comments

On Thursday December 1, the Minister of Finance, Ngozi Okonjo-Iweala, cringed when the senate joint committee investigating the management of funds set aside for petroleum subsidy handed her a seven-day ultimatum to produce a secret forensic report on the Nigerian National Petroleum Corporation in her custody.

The audit (click to download): Consolidated Detailed Findings-v1, done for her ministry by renowned audit and advisory consultancy, KPMG, which exposed the massive financial malfeasance and monumental corruption in the NNPC, is one document the federal government, the petroleum ministry and the NNPC have worked hard to conceal for a little over a year now.

The report, which could trigger a fierce face-off between the federal and state governments, is one of the most closely guarded secrets in Nigeria today. It contains shocking details of how the NNPC, and by implication, the federal government has been swindling the states.

So when the committee requested Mrs. Okonjo-Iweala to produce it, she became a bit uneasy, knowing that doing so might embarrass the administration and sparked some troubles for the NNPC, a source close to her told the Times. Initially the minister didn’t make any commitment, but when pressed by committee members, she reluctantly acceded to the request.

It is not known at press time whether she has sent the document to the committee. Contacted yesterday, her spokesperson, Paul Nwabuikwu, said he had no information on the matter. Calls to the chairman of the senate joint committee, Magnus Abe (PDP, Rivers), were unanswered. But as at noon today, long after the ultimatum given to Mrs. Okonjo-iweala expired, a source close to the committee said the minister was yet to make the report available. He said there was high-powered lobby by the NNPC not to make the document public.

The damning report

But the Times has scooped the report for you in case the minister fails to produce it or does so to the committee in camera.

As far as the 41-page report is concerned, the NNPC is a cesspool of monumental corruption and fraud. The report detailed the corporation’s sharp business practices, violation of laid down rules and regulations, illegal deductions of funds belonging to the state, and failure to account for several billions of naira that should go to the federation account.

The agency, the report says, has also severely defrauded our country in subsidy claims. Auditors found that between 2007 and 2009 alone, the NNPC over-deducted funds in subsidy claims to the tune of N28.5bn. It has not been able to account for the sum ever since.

The over-deduction from its remittance to the federation account for 2010 and 2011, believed to be in several billions of naira, is not captured in the report.

The Federal Government, through the Federal Ministry of Finance, hired KPMG and another Nigerian auditing firm, S.S. Afemikhe & Co., in July 2010, to look into the books of the corporation following allegations of “wrongful deductions at source by the NNPC to fund its operations” by the 36 state governors.

There were also concerns at the time that “the procedures for managing and reporting the country’s crude oil and gas revenues are opaque and characterized by gaps, overlaps and inconsistencies in the role of key parties responsible for the assessment, collection and reporting on these revenue streams.”

Officials of the petroleum ministry and the NNPC, a source at the finance ministry disclosed, developed cold feet after the auditors were sent in, and indeed tried hard to frustrate the representatives of the two audit firms by failing to supply evaluation criteria for commercial bids submitted in respect of petroleum products importation.

Believing that would turn the auditors away, our source further explained, the corporation also failed to provide them with other relevant documents such as the criteria for allocation of products and product volumes to importers/suppliers and periodic prequalification list of approved products importers/suppliers.

But in spite of the difficulty they faced, the auditors were able to determine that the NNPC had been anything but transparent in the management of our country’s oil resources.

The report that emerged from the audit was just too damning that the leadership of the petroleum ministry, the NNPC and some few other elements in the Federal Government have worked hard to keep it away from the 36 state governors and federal lawmakers in particular and Nigerians in general.

Stealing the states blind

In what is likely to anger state governors, the audit established that the corporation was in the habit of arbitrarily estimating subsidy claims and then over-deducting funds from proceeds of domestic crude sales.

“For example,” the report said, N25bn was deducted as subsidy estimate for September 2009 from domestic crude sales proceeds while PPPRA approved a subsidy of N23.8bn. N35bn was also deducted as subsidy estimate fro November 2009 but PPPRA approved of N21.3bn.”

The auditors’ analysis indicates “over-deduction for these two months amounted to N14.9bn. However, only N4.2.bn was swept into the Federation Account by the NNPC as adjustment for subsidy claimable in the two months.” That is beside the N11.8bn subsidy claim the NNPC claimed it paid for imported products that didn’t reach consumers.

State governors have always complained that the NNPC was shortchanging them through illegal deductions from revenues payable to the federation account.

Fraudulent underhand tactics

Over-deduction is however not the only way the corporation is defrauding the federal and state governments. According to laid down regulations, the NNPC is invoiced in dollars for domestic crude allocations but is expected to remit the equivalent naira value to the Federation Account. But auditors found to their chagrin that in doing that, the corporation used exchange rates far lower than those published by the Central Bank of Nigeria.

Using this “fraudulent underhand tactics”, the NNPC succeeded in cheating the three levels of government of a whooping N85.2bn in three years – N25.7bn in 2007, N33.8bn in 2008 and N26.7bn in 2009.

When the auditors requested explanations for these exchange rate disparities, the NNPC claimed it obtained the exchange rates it used from the CBN via telephone.

The report also severely indicted the NNPC over the shoddy and non-transparent manner it renews crude sale contracts every year. The auditors noted that “evaluation criteria for renewal of contracts are not clearly stated in the contract document”, and that the selection exercises were based on individual discretion and wrong assumptions and criteria.”

The NNPC claims that renewal of contract was based on performance of off-takers (buyers). But the auditors observed that the basis and process for determining performance were not clearly defined.

The auditors wondered why in 2007 and 2008, some companies not on the approved list of buyers for that year were allocated crude, a practice the examiners believe had led to crude being sold to non-credible buyers, even with relevant guarantees and safeguards not implemented.

Specifically the auditors queried the allocation of crude to Ovlas Trading (2, 852,316 barrels in 2007 and 906, 269 barrels in 2008) Petrojam (2,818,914 in 2007), Oil Fields (950,166 barrels in 2007) and Zenon (906,000 barrels in 2008) even when they were not on the list of authorized buyers for that year.

Contracts for the importation of products, the auditors wrote, were also routinely awarded without regard for approved guidelines and procedures. “We observed that contracts for the importation of petroleum products were awarded to companies and suppliers not listed in the approved prequalification list used for the fourth quarter 2008 importation,” the report noted.

The auditors specifically queried the award of contracts in that manner to Astana Oil Corporation Limited, Natural Energy and Oando, when they were not prequalified for patronage that year.

Among other forms of misdemeanour, ranging from poor accounting to shoddy record keeping, the auditors also indicted the corporation for leaving its own storage facilities, unused, and then proceeding to incur additional cost from leasing of third party storage facilities.

The auditors reported that DPK tanks (with storage capacity of 18,000 cubic metres) at the PPMC depots within the Mosimi Area had not been used for three years even though there were in good condition. Yet the corporation, the examiners added, had been leasing storage facilities from third parties.

The spokesperson of the NNPC, Levi Ajuonuma, declined to comment on the report, saying he had nothing to say until the government releases it officially.
PoliticsRe: Why Are Ghanians Not Protesting Over A Similar Increase In Their Pump Price: by Jay5000(m): 4:15am On Jan 10, 2012
Rephrasing the popular Adolf Hitler quote; i completely agree that "anyone who sees clearly and yet equates 15% to 125-200% or compares Nigeria to US should be sterilized." In the same vein, "any free and rational thinking human who believes that it is fair for less than 500 members of the legislature to gulp N1.2 trillion in a year in salaries and allowances but unreasonable for 160million Nigerians to enjoy a N1.3 trillion subsidy should also be sterilized."  Those who also think that N1.3trillion will transform a country that a N4+ trillion-a-year budget has not been able to do should also be sterilized. The seed of such people pose a direct threat to future generations of Nigerians.

For the subsidy to have increased from 300billion in 2010 to 1.3trillion in 2011 gives you an idea of the level of corruption we are dealing with here, and yet the government is not interested in investigating the fraud or prosecuting the fraudsters. It just wants to remove the subsidy and cause double digit inflation "for our own good. " Open your eyes people. Implementing any policy in this corrupt country will be tantamount to planting cassava on a concrete floor and expecting it to grow -  "you go old where u dey wait"
Christianity EtcRe: Why Infant Baptism Should Stop! by Jay5000(m): 6:39pm On Nov 28, 2011
plappville:
Have u search the bible to know why all these u mentioned here are taking place? U should know the root of it.

to the bold  shocked shocked

[size=18pt]My broda, welcome to Nairaland![/size]
Part of the reason it's happening is because Christians are spending good time fighting denominational and doctrinal wars instead of trying ot focus on our faith and winning souls.
Christianity EtcRe: Why Infant Baptism Should Stop! by Jay5000(m): 6:23pm On Nov 28, 2011
Anti-Infant baptism activists should please try to focus on more important things in life. Its a free world. If you think its wrong for an infant to be baptised, you and other like-minded individuals can simply opt out. All these doctrine wars are not helping. What difference does it make? What's wrong with someone taking a vow to raise an infant as a Christian till he/she is old enough to take responsibility for his/her Christian life (confirmation)?Does infant baptism condemn an infant to hell? Does adult baptism make you holier or guarantee salvation? did Jesus tell you it is wrong to baptize children?  Why is it an issue? Seriously, It's like your hair is on fire and the only thing you're worried about is the fact that u haven't combed it' instead of trying to put out the flames.  Christianity is facing a lot of challenges today, including but not limited to greed, dirty and disgusting politicking, theft, fake pastors, fake deacons, fake anointing, fake prophecies, fake Christians,  materialism, diabolic practices, worship of money, destruction of marriages, false visions and revelations, promoting and glorifying hate, segregation, discrimination, corruption, brainwashing of congregations and the general dumbing down of society, all in the name of God  and the only thing you're worried about is infant baptism. Guess that's the reason why Christianity is having no effect in Nigeria today. Stop digressing and redirect your priorities people. We're running out of time.

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