₦airaland Forum

Guys keep the spirit high and never cease to pray this is the latest from newspapers!
Maybe the following might just be delaying the letters,

NNPC operates secret accounts, says RMAFC - confirms N1.079trn illegal subsidy deductions

The Nigerian National Petroleum Corporation, NNPC, yesterday received knocks as the Revenue Mobilisation Allocation and Fiscal Commission, RMAFC, told the House Committee on Petroleum that the agency was running secret accounts. The accounts were said to be inaccessible to relevant authorities with the constitutional responsibilities to monitor. RMAFC Chairman, Mr. Elias Nbam, told the lawmakers at the resumed investigative hearing of the House of Representatives into the non-remittance of N450bn into the Federation Account by the NNPC that the agency’s handling of the domestic oil and gas accounts lacked transparency and accountability, contrary to the provisions of the 1999 constitution as amended. The RMAFC boss also told the committee that the NNPC and the Petroleum Products Pricing Regulatory Agency, PPPRA, also embarked on other illegal deductions to the tune of N1.079trn under the guise of fuel subsidy between January and September 2011. He added that from 2004 till date, dividends accruing from the Nigerian Liquefied Natural Gas Limited had not been paid into the Federation Account as required by law. His words: “At present, the 3 J.P. Morgan Account, where the payments for export crude oil and gas are paid, are not largely being supervised and constitutionally monitored by the major stakeholders of the Federation Account, particularly RMAFC. “This situation makes the operation of the account to be shrouded in secrecy and, therefore, subject of several criticisms, suspicion and lack of confidence by stakeholders. “The operation of NNPC’s domestic crude oil and gas account does not promote transparency and accountability. Indeed, NNPC pays revenue from its domestic crude oil and gas into its operationalaccounts and subsequently direct the Central Bank of Nigeria to transfer specific amounts to the Federation Account. “By the Appropriation Act 2011, the NNPC is to be paid N81.720bn from January to September 2011. However, the NNPC has so far deducted 615.67bn, which shows a difference of over N533.950bn. “Similarly, the PPPRA marketers’ subsidy provides N102.753bn as appropriation for subsidy in the 2011 budget for the period January-September 2011 but by September 2011, the PPPRA (marketers’ subsidy) has been paid N647,660bn, which shows a difference of over N544.907bn.” He explained that from the N1,391,348,936,859.05 revenue realised by NNPC, N868,572,586,402.06 was remitted to the Federation Account while N450,776,350,456.99 was withheld by the corporation between February 2005 and December 2008. “Signature bonus, which is a premium from concession granted on oil blocks, are currently not being paid into the Federation Account. Such fund ought to have been paid into the Federation Account. “From 2004 till date, dividends accruing from the Nigerian Liquefied Natural Gas Limited have not been paid into the Federation Account; the accrued dividends should be paid accordingly. “The commission after the analysis of the revenue loss to the Federation Account due to the exchange rate differential discovered that N12bn was the exchange rate differential for the period of January to August 2011, but noted that NNPC has so far paid N15,234,862,500 on two installments into the Federation Account.” Nbam noted that the ineffective functioning of the nation’s refineries led to the sale of most of the 445,000 barrel per day of crude oil allocated to NNPC and that the dollar realised is monetised into naira and paid into the Federation Account after NNPC had deducted its claims for subsidy. But the Minister of State for Finance, Dr. Yerima Ngama, told the committee that the RMFAC chairman did not have facts of the transactions of the NNPC, particularly the details of the crude oil account. "NATIONAL MIRROR, Wednesday, November 02, 2011 "

NNPC denies N450b debt, paying still - Revenue body says corporation owes govt
HOUSE of Representatives’ investigation into the N450 billion allegedly owed by the Nigerian National Petroleum Corporation (NNPC) to the Federation Account threw up serious disagreement in the National Assembly yesterday. Asked to confirm or deny the allegations, NNPC Group Managing Director, Austin Oniwon, said that although it was true that NNPC had paid the sum of N15.2 billion out of the N450 billion to the federation account, it never really owed any debt. He said the corporation was paying the money under duress. Oniwon’s statement was corroborated by a former Group Managing Director of NNPC, Funso Kupolokun, who explained that the circumstances in which NNPC operated was very difficult. He said that the corporation was operating at a loss having been made to buy petroleum products at the market price and then compelled to sell below the market price. According to him, the need to bridge the gap contributed to the decision by former President Olusegun Obasanjo, in December, 2005, to instruct the NNPC to begin to deduct money from its earnings to pay for its losses.
"THE GUARDIAN, Wednesday, November 02, 2011"

^^^^^^ Ok o/, e no consign me so far as say the man dey ok with him iyawo!!!

voila!

halloween child abuse!!!

I don't care if she is calling the her mum talkless of given direction to a friend. this act just shows how her marriage might be!

This is the link http://www.dailymail.co.uk/news/article-2055503/OMG-Bride-starts-texting-wedding-ceremony-lol.html

LOL, JUST LOOK AT THE MANS FACE, THEN YOU FIT LAUGH!!!!

^^^^ you just might be right.
A text like, I told you i would get married before ur sorry ass, SEE ME NOW

how can a bride be texting as she walks down the aisle!!!
a day she is supposed to be looking at her Prince charming alll day long

Jeremiah 29:10-11

Keep building yourself even as you await response soonest,

She definitely knows more, She has been changing her stories from day one, even her last speech yesterday na story!!!!

I truly feelk for Meredith parents,

I hope then dont close it but find away to make sure AIRTEL take good care of these 3rd party staff and look into their welfare!!!

Non stop light since the past 3ays after a week of black-out !!!

Giving thanks !!! while waiting

check this out http://www.dailymail.co.uk/news/article-2040806/First-class-Top-level-degrees-34-prompting-fresh-concerns-grade-inflation.html
Even standard of 1st class is dropping ,

kaylla:
hello guyz,did anyone get an invite for AGIP Petroleum job interview in abuja?want to know cos[b] i got an invit[/b]e along wit a notification of job offer letter

I hope you are not trying to scam people you have sent letters to? who can give offer letter and interview letter at same time excerpt a scammer.
People should try and wakeup!!! mind you no oil and Gas recruitment process is concluded in less than 4-6 months

Nobody is saying anything but i know people have received rejection letters, I just pray God help the serious Nigerian youth in this strange time!!!!

amen!!!

LOL
@ ojbaba95 forget about the transportation fare you talked about and prayer you get an offer letter from Them!!!

Ladi

mogbomoya:
@ITSURS

Thank you for speaking up also. The good lord would give us a testimony soon. I soo wish I heeded to my husband's instruction, he told me to sit at home and not to go for any appointment.

I had accepted already, until Dr. Haastrup called my phone. I read out the hormonal result I took months back, and he immediately told me my biological age was ticking and I should act fast.

It is well, am not even going to worry about my inability to conceive immediately. I know he would answer me very very soon. My hubby and fruitful as the word of God has declared.

ALL LADIES,

Even when ur hubby idea or suggestions seems dumb in any situations provided its not VERY Urgent or life threating, make your stand known to him CLEARLY , then pray and be patient ( obey his suggestion), It would save you alot of issue in the long run, and He would later relaise his mistakes!!

You never see, you never know

[size=24pt]OLOKPA!!!!!!!!![/size]

Expertise with storage, VMware, virtualization, sServer blades and networking.
Based in lagos, Nigeria.

send Cv's to jnolasco@halian.com

Congratulations, many more job and other testimonies to come this year!!!!

amblors:
yea Nowa GBAM.

[size=16pt]TAI !!!![/size]

:d

thomasjohn:
wait probably you didnt know what you printed,you probably printed his technical presentation for the SRD,cos the SRDs are not finished yet,not until the end of the month.
its not possible for him to do a presentation at their office without doing medical,doesnt make sense.

pls sir dnt spread false info,
thank you.

I dont spread Flase info, I said i printed presentation for SRD, i didnt bother checking if its technical or not. I also didnt state that SRD has ended. the young lad told me he was going to do SRD presentation with shell, so it may not be in their "OFFICE" but i know its for SRD,


Also there is this lil relative that her status for commerical read SHORTLISTED all this while only to get A RE-ASSETMENT mail saying she is not shortlisted!!!