₦airaland Forum

http://www.premiumtimesng.com/business/176301-breaking-audit-report-indicts-nnpc-corporation-to-refund-1-48billion.html


The forensic audit conducted by the
audit firm of
PriceWaterHouseCoopers on behalf of
the Federal Government on the
operations of the Nigerian National
Petroleum Corporation [NNPC] has
indicted the management of the
national oil company for various
questionable transactions.
Part of the recommendations include
that the Nigerian Petroleum
Development Company, NPDC, the
upstream subsidy of the NNPC should
refund about $1.48billion to the
Federation Account for various
unreconciled transactions.
More details of report to come.
President Goodluck Jonathan had on
Monday publicly received the report a
day after a former Governor of the
Central Bank of Nigeria [CBN],
Chukwuma Soludo, wrote a long,
acerbic article accusing the
managers of the Nigerian economy of
misappropriating over N30trillion of
public funds, including several billions
in oil money.
The forensic audit was commissioned
following allegation by the immediate
past Governor of the CBN, Lamido
Sanusi, that about $20 billion oil
money was missing from the NNPC.
The Presidency had on March 12, 2014
announced, through a statement by
the president’s spokesperson, Reuben
Abati, that it had authorised the
engagement of reputable
international firms to carry out the
forensic audit of the accounts of the
NNPC.
The allegation that the huge amount
had been stolen was raised in 2013 by
a former governor of the Central
Bank of Nigeria, Lamido Sanusi, who is
now the Emir of Kano.
Mr. Sanusi said as much as $49 billion
was diverted by state oil company,
Nigerian National Petroleum
Corporation, NNPC.
He later reviewed the amount to $20
billion, and called for investigations
after writing to President Goodluck
Jonathan.
A Senate probe into the allegation
yielded no result. Mr. Sanusi was later
fired by President Jonathan after he
was accused of “financial
recklessness”.
The government said no money was
missing, but promised a forensic
investigation of NNPC.
In April 2014, the Minister of Finance,
Ngozi Okonjo-Iweala, announced the
appointment of the accounting firm,
PriceWaterHouseCoopers (PwC), to
conduct a detailed investigation into
the accounts and activities of NNPC.
The minister said the investigation,
under the supervision of the Office of
the Auditor-General of the
Federation, would take about 16
weeks.
That schedule meant at most by
September 2014 ending, the report
should have been ready. A two-month
delay meant the report should have
been ready by November.
But the government only publicly
received the report on Monday.

Corrupt government.... E GBA won da nu, e GBA won si'gbo , e gba won da se'won! Prison straight!

This is about 13% of the stolen money, madam ngozi what were your big lips saying before now, or r d auditors APC supporter?. Waitin for pdp e-rodent to appear, and blindly giv an xcuse.
Soludo keep opening there ugly corrupted ass, u'r a true son of d igbos. Unlike ebele jonathan that keeps calling himself our in-law, do patience that looks like an overfed crocodile looks anytin like igbo? Abegi!
$1.4 till it gets to $20billion, we r all watching!

And who heads the NNPC?

We have distributed 45 million PVCs -
INEC

https://www.nairaland.com/2130331/distributed-45-million-pvcs-inec

A country where others live large at the expense of others ...quite unfortuate i tell you,no matter how well or far you cover the truth,one day it will definitely surface..thank you God of heaven who keeps acurate account,who cannot be inflenced or bribed..to you be glory and honour for ever.

President GEJ means well for this country but the truth is that he doesn't have a clue on how to go about it. It takes more than a university degree and good will to be a leader; you must have the charisma!

I hope Sanusi is Vindicated now Oga Jona?

Olamitisoji:
http://www.premiumtimesng.com/business/176301-breaking-audit-report-indicts-nnpc-corporation-to-refund-1-48billion.html
The forensic audit conducted by the
audit firm of
PriceWaterHouseCoopers on behalf of
the Federal Government on the
operations of the Nigerian National
Petroleum Corporation [NNPC] has
indicted the management of the
national oil company for various
questionable transactions.
Part of the recommendations include
that the Nigerian Petroleum
Development Company, NPDC, the
upstream subsidy of the NNPC should
refund about $1.48billion to the
Federation Account for various
unreconciled transactions.
More details of report to come.
President Goodluck Jonathan had on
Monday publicly received the report a
day after a former Governor of the
Central Bank of Nigeria [CBN],
Chukwuma Soludo, wrote a long,
acerbic article accusing the
managers of the Nigerian economy of
misappropriating over N30trillion of
public funds, including several billions
in oil money.
The forensic audit was commissioned
following allegation by the immediate
past Governor of the CBN, Lamido
Sanusi, that about $20 billion oil
money was missing from the NNPC.
The Presidency had on March 12, 2014
announced, through a statement by
the president’s spokesperson, Reuben
Abati, that it had authorised the
engagement of reputable
international firms to carry out the
forensic audit of the accounts of the
NNPC.
The allegation that the huge amount
had been stolen was raised in 2013 by
a former governor of the Central
Bank of Nigeria, Lamido Sanusi, who is
now the Emir of Kano.
Mr. Sanusi said as much as $49 billion
was diverted by state oil company,
Nigerian National Petroleum
Corporation, NNPC.
He later reviewed the amount to $20
billion, and called for investigations
after writing to President Goodluck
Jonathan.
A Senate probe into the allegation
yielded no result. Mr. Sanusi was later
fired by President Jonathan after he
was accused of “financial
recklessness”.
The government said no money was
missing, but promised a forensic
investigation of NNPC.
In April 2014, the Minister of Finance,
Ngozi Okonjo-Iweala, announced the
appointment of the accounting firm,
PriceWaterHouseCoopers (PwC), to
conduct a detailed investigation into
the accounts and activities of NNPC.
The minister said the investigation,
under the supervision of the Office of
the Auditor-General of the
Federation, would take about 16
weeks.
That schedule meant at most by
September 2014 ending, the report
should have been ready. A two-month
delay meant the report should have
been ready by November.
But the government only publicly
received the report on Monday.

from $30 billion to $20 billion, from $20 billion to $10 billion, and now, a reputable firm has narrowed it down to $1.5 billion

chai! the opposition trying every means to discredit this regime, but God keep on expossing them.

wating for NNPC to give cerification, am sure that money is the cost of running busness over the years.

Now I get......
The missing $20Billion is CORRUPTION.
but, just $1.48Billion was stolen!
What a country