₦airaland Forum

vodutive:
How did this man become a SAN? just look at his letter headed paper!!!

oga how did you become a graduate?....... that's if you are. stick to the point.

It is not called letter headed paper, it's called letterhead.

if true , then I am very grateful to God. I was totally devastated when I could not make the cut for a top management position there early last year because they said their closeness to my then employer(bank), could be jeopardized if they poach their staff.

wirinet: You people are pathetic liars and highly dishonest, you turn truth and logic on it's head. You said $49b minus $10.8b leaves a whooping $32.2b and still went on to say no money is missing. so where is the $10.8b? since you know where it is as madam finance minister has no clue, you better inform all of us.

If you read sanusi's letter and the reconciliation meetings between CBN, NNPC, finance ministry and other relevant parastatals, you will see that no body accused sanusi of making accounting mistakes. Even president Jonathan did not ask sanusi to resign on account of accounting error or professional incompetence, he asked sanusi to resign based on his alleged leakage of the letter.

Sanusi simply did not have any record of money being remitted for recorded oil liftings. NNPC's excuse was that the oil liftings recorded were done on behalf of third parties and not on behalf of Nigeria, that was responsible for the non remittance of $32.2 billion. Now how do you expect sanusi to kow which portion of our oil liftings is for the federal government and which portion is for third parties without having the records from NNPC? We are still waiting for the excuse of the non remittance of the balance $10.8 billion.

Tribal bigotry seems to affect the brain's centre for comprehension and logical reasoning.

My friend cool down. you are getting too technical for your comprehension.

I said a whooping $38 billion is the difference between what he said was missing initially and what he now claims is still to be reconciled. My point is that Sanusi has shown total lack of know-how hence I do not believe even his $10.8 claim.

ALL of them have there strengths and weaknesses. In any case GEJ stands a good chance


GMB will have a massive cult following in the north, but with him religion will be a key factor. He is definitely high risk for Christians anywhere. Even the international community will be afraid of him. His choice will also make it extremely difficult to pick a formidable SW as all the key ones that have electoral value are muslims. He will be a hard sell to the youth too.

KWAKWANSO------- Will match GEJ in terms of youth, and will probably have the full backing of some key PDP ex generals, with the understanding that he is one of theirs and will still be useful to help protect their business interest---oil bloc things. Will definitely not get the cult following like GMB as GMB followers may feel shortchanged for losing out on the slot. SW may be able to pick another muslim politician to back him up as both will be argued as moderates unlike GMB. Still high risk because close to the elections some "things" about him may start showing up that will spoil the chances. With him GEJ will be able to do very well in a lot of northern states, even in the SW.


TAMBUWAL-----UNTESTED but like Ghali umah Na aba, Bello masari, Dimeji bankole. Speakers of the federal house always have the larger-than-life outlook, not properly assessing there political value. looks like the candidate which can be used by the APC to preach the message of hope,and generational change. If presidential debates are important, he looks like the only one that can rattle GEJ. however like Ribadu he may turn out a monumental mistake in the elections proper.

Sanusi was factual and realistic enough to admit that NNPC has subsequently made some submissions which has reduced the outstanding balance. Mind you, Sanusi is not the only member of the CBN board/management team which comprises of people from all zones in the country

.


Those who know Sanusi, know that he "knows-all" any attempt to correct him before his foolish letter may have earned a serious backlash from SLS.

mikeapollo: You are a noisy ignorant who does not understand what is called reconciliation as regards statutory remittances.
When you make remittances, you have to FILE in evidence of your remittances to the statutory body so that the records can be updated. Otherwise, there will be difference between your records and that of the statutory bodies.
In this case, the NNPC was neither making full remittances(to FIRS etc) nor making adequate filing of its remittances to the CBN for appropriate documentation. So based on the earlier records with CBN, there was a shortage of $49b. The NNPC then responded by filing in further evidence of remittance of about $38b, so that has been reconciled.
But the NNPC has not been able to give anything to prove that they remitted the remaining $10.9b. That is whopping N1.7trillion....the same amount that the GEJ govt and Okonjo-Iweala said they are spending on fuel subsidy which they used to increase fuel price.

If GEJ is clever, he should have allowed SLS to be and give support to him for his anti-corruption stance in order to win the support of the masses.....but here we are with a petty president who gives award to corrupt people like Patricia Etteh, pardons criminals like Alameseigha, protects corrupt ministers like Stella Oduah and Deziani, but he wants Sanusi, the only serious minded anti-corruption crusader in his govt to resign.

GEJ is truly clueless

I majored in the sciences however you appear more ignorant.

With all your accounting knowledge how do you reconcile a difference that is more than your total expected revenue?

The total expected revenue is one hundred thousand naira N100,000 and my accounting tells me that one hundred and fifty thousand naira N150,000 is missing , even while I have Twenty four thousand naira N24,000 in hand? The next thing is a do a letter to my superior alleging missing funds. Abeg make we hear word. you guys just deliberately dodge the truth.



Did sanusi say , he just saw the documents of the remittances when he made a rebuttal that the letter was in error?

dvee2: My friend ,the reason why sanasi does not know the "oil arithmetic" according to you is the main reason why Sanusi wrote the letter in the first place. The nnpc has been using voodoo accounting for decades, cheating on Nigerians and operating as a government on its own. No one knows how they arrive at their figures, they simply pay spend what they want to spend and pass the remaining to the federal government. This is what Sanusi is fighting for, actually the finance minister should even have been the one asking these questions, but Sanusi was bold enough to ask the question. It is wrong for the nnpc to spend money that has not been appropriated. Ask yourself why it takes a corporation like nnpc several weeks to come up with an explanation about how the money is spent? If nnpc is your company will you wait that long for your managers to cook the books? PEtronas Malaysian version of our own nnpc has investment all over the world in addition to the countries oil export fees, but with a touch of the button , they can generate annual book balance to the last decimal point. In this computer age , our nnpc pretends and hide oil sharing formula with it and third party so that only them will determine how much they pay into the federation account. And some people would come here saying Sanusi does not know oil arithmetic. It is designed by nnpc deliberately so that nobody knows,several CBN governors after,someone is challenging the status co and gullible Nigerians wants to hang him. Whe vilify our heroes while we celebrate the thieves. This country is doomed. No upright man will succeed.

So was the $49b deliberately overstated to get the needed attention and attendant tutorial?

You have stated things that though not untrue but very immaterial in the context here.


Is it not shameful that SLS does not even know that only a fraction of the total revenue is supposed to come from NNPC. In fact when other Nationals read Sanusi's way of arriving at $49b , they just conclude on why as a Nation we are not doing well----GROSS IMCOMPETENCE. We are talking of the CBN governor.


see how a central bank governor calculates oil revenue, even primary school simple interest is more complicated:

“Our analysis of the value of crude oil export proceeds based on the documentation received from pre-shipment inspectors shows that between January 2012 and July 2013, NNPC lifted 594,024,107 barrels of crude valued at $65,332,350,514.57,” the letter said. “Out of this amount, NNPC repatriated only $15,528,410,098.77 representing 24% of the value. This means the NNPC is yet to account for, and repatriate to the Federation Account, an amount in excess of $49.804 billion of the value of oil lifted in the same period.”
-

$65,332,350,514.57 divided by total number of barrels lifted 594,024,107 which gives $109.98 per barrel.


This shows that sanusi simply multiplied the average crude price for the period by the number of barrels lifted and decided that was money that should come to federation account. what a governor?

texazzpete: Sanusi sent a private letter to the President. If someone leaked it without his permission, is that 'going sensational'?

As for your take on Sanusi's competence, the fact that he has won more awards on merit for his job than nearly everyone else in this Government should give you an idea on how competent he is.

Sorry, the money is by far the most important thing, not any petty jibes at Sanusi. That money can improve the standard of living of millions. Stop these childish games and act like a patriotic Nigeria, you worthless Esau!

No just enter award lane. Don't go there at all. In Nigeria a lot of us have lost confidence in these awards. Was Cecilia Ibru not winning awards even while Oceanic was struggling?


NO MONEY IS MISSING

ilugunboy: Is money missing or not?

$49b minus $10.8b leaves us with a whooping $38.2b . My logic simply is Sanusi's books that could make this huge mistake in accounting to the tune of $38b can no longer be trusted.

No money is missing.

ilugunboy: You are still glossing over the fact that 10B is still not yet accounted for....you made it look like we are talking about =N=10m only.

.....aren't you bothered about that..but SLS arithmetics?

Guy if someone came yesterday to shout that $49b is missing and after about 3 days of tutorials by those that know and he comes to say "I made a mistake its no longer $49b but $10b" will you believe him?

SLS is a very stubborn and arrogant guy, for him to eat the humble pie and admit that he was in error shows that the facts are overwhelmingly against his claim

$49b missing in 18 months and only Sanusi's CBN knows in an economy that is almost solely dependent on oil income and una still dey support am.

Sanusi has simply lost the perceived "professional know-how" for someone like me to believe him, so his $10b claim too na lie.

Pukkah: Where was the $10.8 billion before Sanusi's letter?

What has been done to those who didn't remit the $10.8 billion?

Do you agree that $10.8 billion is a whole lot of money?

Now, read carefully and answer carefully.

No long story. Just answers.

Its not just the amount we are talking about. the point here is that the Apex banker of the naton does not even know how the how basic oil arithmetic is done. It is very shameful that early commentators in industry just laughed at SLS's folly when they heard $49 missing in 18 months.

So my take is that Sanusi either does not know how the country generates its income, which in itself can lead to further drilldown to show some more serious finding of ineptitude in CBN or that our Apex banker simply decided to be a politician and decided to go sensational with a claim he knew is false. EITHER WAYS THE MAN HAS TO GO.

The statement held that it was the reports that paved the way
for Bayelsa to apply for the monies that had been placed in an
escrow account when Amaechi approached the Supreme Court.
“From July 2004, the Revenue Commission officially
attributed the Oluasiri (Soku) Oil well to Bayelsa State and
the amount of N7,292,218,892 was subsequently released
from the ESCROW account to Bayelsa State on March 19,
2007, during the administration of President Olusegun
Obasanjo,” it said.

Hmmmm

na_joke: When in doubt..........Google is ur best friend.

What point are you trying to make? google what?

Someone has raised very valid points on the need for APC to apply caution in their drive for new members, and someone's lame response is that Simon Kolawole used to be PDP'S mouthpiece and you see that as reasonable in this context?

This is as sure as sunlight.

If SW produce the VP then , aboki go make that one as redundant as any one can imagine. Iin no time the usual Fulani pride will take centre stage and all these ones speaking grammar in SW will once again be faced with the reality of what it means to work with "born-to-rule"


It will really be interesting to see how a government will be run successfully with SS and SE forming the block of the opposition. I dey laugh.

Orlando Owoh: [s]You may hate him but one thing is sure, you can't outsmart his intelligence. His letter to President Goodluck Jonathan was well written, in such as way that in itself lies the reply to whoever that writes a rejoinder. For all those like the President himself, E. K. Clark and others that have written rejoinders, Obasanjo's media aid, Tunde Oladunjoye has referred them to page 14 paragraph two of the said letter, "knowing what happens around you - most of which you know of and condone or deny, this letter will provoke cacophony from hired and unhired attackers, but I will maintain my SERENITY, because by this letter I have done my duty to you as I have always done, to your government, to the country, Nigeria[/s]."

Smartness and intelligence that:
1. could not secure his third term bid despite all resources he committed
2. struggled to manage Yar adua after thinking that he had installed a puppet that will always defer to Otta for direction
3.could not understand the wave that hit him when Tinubu pushed him aside and controlled SW politics
4. made two of his eldest children to wash him in public
5 could not fix power problems in 8 years
6 Did little or nothing about corruption in 8 years.


Obj's letter makes him look smart to people like you because that's what you want to hear . Simon Kolawole said to be a hero in the eyes of some people these days, you only need to speak against GEJ.

This is really really funny.

So the much respected BRF finds a hiding place in the excuse that the FOI is not binding on lagos to make himself unaccountable.

This is why I struggle to understand the version of "progressive" politics we have in Nigeria. So sad

[size=20pt]shekarau ,Bafarawa shun APC leaders[/size]


The crisis in the Kano and Sokoto chapters of the All Progressives Congress (APC) appeared to have
worsened yesterday when two key leaders stayed away from separate meetings held to unify disparate groups
of the party in the two states.Former Kano governor Ibrahim Shekarau and his Sokoto counterpart Attahiru Bafarawa
had been sulking since the defection to APC by their long-standing political rivals, Governors Rabiu Kwankwaso
and Aliyu Wamakko.The incumbent governors have been trying to take over control of the party’s state structures,
which the two former governors were instrumental in setting up in the first place.

Bros make I help you small.

Since it is all about APC news not just the "good news" alone. Make we dey add things like this to create balance

[size=25pt]Kwara wants to get rid of Saraki -----Belgore[/size]


A one-time governorship candidate of the defunct Action Congress of Nigeria in Kwara State,
Mr. Dele Belgore (SAN), who is now a chieftain of the All Progressives Congress, says in this interview
with Success Nwogu, that the defection of Senator Bukola Saraki and Governor Abdulfatah Ahmed will frustrate
the wish of the Kwara people to do away with the duo

Krasid: I find this comparison really stvpid and absurd.How can you compare Nigeria and Ghana?.Ghana is not bad but Nigeria beats them in all spheres hands down.

Big lie

obubeberan: i heard people comparing Ghana wit Nigeria. I was watching one interview and the man was ask this question. Here is his reply, how can u compare Nigeria wit Ghana that all the water they are using in the country is not up to the one use to flush toilet in Lagos. Since i have been going to Ghana i have justaposin the two country bt nt yet reach conclusion. So what is view, can u compare GHANA to NIGERIA?

Lets not be senseless in our comparison here.

Ghana has better functioning systems.

I know someone that has stayed in Ghana for 3 months and confessed that he does not even have a rechargeable lamp. Nigeria still has a lot of work to do.

ilugunboy: What is FG contribution since they departed to ABJ....?
You people just like underestimating the contribution of the state government to the continuos development of the state...
Well...Lagosians will always appreciate the effort of the state government.
And in your bad belle mind and effort to downplay the effort of the state govt....you even have the presence of mind to list natural forces as a factor on developing lagos above the govt.

On the bolded , I agree , state govt should come before natural forces.

Definitely we need a functioning state government for even the private sector initiatives to come to fruition, however in this case we can never place the state government ahead of FG and private sector in the development of Lagos.

I also do not like the veiled castigation of other states for not measuring up to Lagos in terms of development and IGR . The odds massively favour Lagos.

Rhemar: Tambuwal has shown so much leadership prowess wt d way he's been handling affairs in d house so far bt I still feel there better qualified candidates

Speaker of the house in my opinion is just like A-LEVEL SUG president.
Very easy to talk ,probe, object and point fingers .

He has done nothing special that we have not seen before, Ghali umar na aba, and even the "Toronto" Salisu Buhari probably pefromed better.

When we report things we should put them in proper perspective.

The level of development in Lagos is attributable to FG, private sector, natural forces and the state government in that order. DONT GIVE TOO MUCH CREDIT TO THE STATE GOVERNMENT THAT WILL BE THE BIGGEST LIE IN 2014

oluwashaddow: wahala dey dis country oooo, why dem go put person wey burn a whole local government secretariat, to cover up his fraud for ITF, dem cum even use am do chairman, now I knw why am yet to receive my IT fund after 3years

For your info this alleged burning of LG secretariat happened before Tinubu worked for KORO to become a senator under AD. It became food for the press when KORO crossed over to PDP and became the governorship candidate.

cramjones: Even the American government through its embassy has advised the presidency to conduct a largely free and fair elections because fo the eventuality that could result if rigging occurs. In the words of Femi Fani-Kayode - Nigeria may not be able to contain the eventualities because the Nigerian people are fed up. APC is not a violent party...we even fear for ourselves on what would result if the Nigerian people see that their votes did not count. It is for the good of both the PDP and APC to leave the elections largely free and fair that is our prayer. I would state again, based on the intelligence we have...APC has decided not to go to court should rigging occur, in 2014 many APC stalwarts will voice this in the media. We are settling nothing in court!

who cares if you go to court or not. we all know that all elections are rigged except the ones that the opposition wins, then we begin to hear victory for democracy. make una no threaten anybody for this country


Once again I see the anti-Gej forces mistaking NL for the real voters. I remember how Buhari and Ribadu won the pre election poll ahead of GEJ in 2011.

Why bring your so called secret document to NL when ideally it should have been a thing of strength for your party to feign ignorance of GEJ's plots but massively mobilise to counter the plans. As you said GEJ will backtrack on these plans, now how sure are you that you will be privy to his next secret plans?


GEJ's only error is that he is not from one of the major tribes, a Yoruba or hausa Fulani would never have been this castigated if he achieved half of GEJ's achievements so far.

As you guys hustle to grab back the seat of power which you believe is rightfully yours, please be prepared to run the economy on the oil revenue from sokoto,jigawa,yobe,lagos etc. Una dey joke, when time comes you guys will know what you are toying with.

Does anyone know if they have interviewed for top IT positions?

Almost [size=30pt]500 PDP Chieftains [/size]In Sambo’s LGA Decamps To APC

How many "chieftains" do we have in the entire country for 500 to decamp from only 1 local govt in Kaduna?

still waiting for the anti-GEJ forces to respond

Activa: shebi oyinlola na member of NEC. abi?

Oyinlola's NEC status was only confirmed by the courts after he had started the New PDP stuff, hence it was easy for the party to suspend him on grounds of anti party activities. so e no follow.

agbameta: lmao @ Justice Elvis Chukwu,


Btw, you are chasing shadow with your pointless rants. PDP is gone and what ever remaining crumbs is destined for SE regional merger with AGPA.

Oga abeg pack well with this your style. I am only trying to interpret what I believe the law states.

On the bolded, hope you are not trying to say judgments are only binding when made by judges from certain tribes?

Activa: see, court no go ever recognise the two sides nah.

this is not the first time such is happening.

one side will always be recognised.

the important thing is that there is division or disagreement or fight which took them to court in the first place.

if no be say division or fight or disagreement dey in d first place, dem go go court?

u don understand me now bros?

Ok O. make we dey watch.

me being think say na when NEC divide na im be proper one. now e just be like say a few party members vex.

Activa: court didn't say there was no division.

the court simply did not recognise the division

bros, you still dey on top of this matter?

the people don go na

which one u sef dey talk? there is division but I no recognize am , wetin that one be?

lol. I just curiously dey wait for how lawyers go judge the matter jare.

My point be say you fit dey work for Julius Berger and still use carry staff benefit of your former employers.