₦airaland Forum

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REVEALED: Jonathan Is Panicking Over The Missing $20bn

$20bn Oil Fraud: Jonathan Administration Pressured PricewaterhouseCooper To Revise Report
One day after President Goodluck Jonathan authorized the release of a version of a forensic audit of $20bn that is reportedly missing from Nigeria’s crude oil sales, an oil industry expert retained by Sahara Reporters to look at the report has stated that the Nigerian government appeared to have pressured the auditors, PricewaterhouseCooper, to revise parts of its preliminary report.

After analyzing the audit report, the expert concluded that the much-anticipated release of the audit report of Nigeria’s accounts and the Nigerian National Petroleum Corporation (NNPC) has provided few insights into the $20 billion that was allegedly not remitted to the Federal Accounts.

Jonathan authorized the release of a version of the report one day after Muhammadu Buhari said

his administration would immediately investigate the allegation by former Central Bank Governor Sanusi Lamido Sanusi to the effect that the NNPC had failed to account for more than $20 billion in crude oil exports by Nigeria.

“The report reveals that PricewaterhouseCooper was recalled by Nigeria’s auditor general in January 2015 to share its original findings with the NNPC,” said the expert. He added, “At this point, PwC received ‘a significant amount of additional information’ from the NNPC, which was not reportedly not provided during the original review period. Consequently, the so-called updated report released by Jonathan contains significant changes from the previous report.”
He stated that it was important to investigate the nature of the “additional information” produced by NNPC “to determine whether it was simply a tactical deployment of deceptive data and information to color the audit outcome.”

According to the Abuja-based expert, “it is highly curious that the NNPC was apparently inept in the quality of information it originally provided to the auditors. Given the charged nature of the controversy generated by the matter, one would expect that the NNPC would be scrupulous in providing exhaustive information to PricewaterhouseCooper at the initial stages of the audit.” He stated that it was important to examine and evaluate the additional information to ascertain that it was not part of a scheme to compromise the audit process.

The oil sector expert added that it was significant that, despite the revision, the sanitized version of the audit still indicated “there was a shortfall of $1.48 billion in oil revenue that the NNPC needed to refund to the Federal Accounts.”

Our expert also remarked that the PwC report also admitted that it did not even constitute an audit. He pointed to a section of the report that read, “the procedures we performed did not constitute an examination or review in accordance with generally accepted standards or attestation standards.” The PwC report also warned that its findings cannot “be relied upon by any other party (third party)” to Nigeria’s auditor-general. “This is another curious aspect of the audit,” according to our expert. “Basically, it’s as if the audit company was telling the world that the work they set out to do did not follow stringent standards of auditing. And yet, the Jonathan administration had promised Nigerians a thorough audit. And a thorough-going audit is certainly what the government owes the Nigerian people.”

PwC is one of the world’s leading audit and consulting companies. SaharaReporters could not ascertain how much PwC charged the Nigerian government for its work on the saga of $20 billion in missing oil revenue.

Read more>>> http://www.justyouchat.com/jonathan-is-panicking-over-the-missing-20bn/

Before nko?

'

Jobless OP

Failed APC machinery
GeJ doesn't have time to rant like the senile one

GEJ OUR NEXT UN SEC GEN! HOW IT WILL HAPPEN I DO NOT KNOW. BUT WILL IT HAPPEN? YES IT WILL.

NCOIM:
Jobless OP

Failed APC machinery
GeJ doesn't have time to rant like the senile one

he will overrant for court like an insane one

I just dey pity dat man call gej

SLIDEwaxie:
he will overrant for court like an insane one

Another Joseph
Wake up you are in yabaleft

NCOIM:
Another Joseph
Wake up you are in yabaleft

another pharaoh, u better allow ur hatred to desert u now before u perish for red sea

kestolove95:
I just dey pity dat man call gej

pity ur poor family, goat

pedel:
Before nko?

shut up there

SLIDEwaxie:
he will overrant for court like an insane one

lunatic idiot

NCOIM:
Jobless OP

Failed APC machinery
GeJ doesn't have time to rant like the senile one

How I wish you knew the difficulty Jonathan is passing through over the revelation of the PWC, you won't be here compounding it.

GEJ
Ride on sire!!!

Haters will die hating

okay

GEJ and goons... hmm i for see kirikiri

Halelujah jonadapht is going to jail

wachakuta:
GEJ and goons... hmm i for see kirikiri

amen o!

APC E-trolls can form Joseph eh

Nobody should wake them up o

jack67:
shut up there

Is this how your parents brought you up? to be insulting people you don't know?

NCOIM:
Jobless OP

Failed APC machinery
GeJ doesn't have time to rant like the senile one

Yeah right! The same 'failed' machinery that trounced a sitting gov't/incumbent president for the first time in the history of Nigeria. Your eye still never clear?