₦airaland Forum

Forwetinnah:
..while we're dealing with the NNPC saga, we can also talk about the TSA, can't we? It's all fraud and corruption

Forwetinnah:
Are you sane at all? Where in my post did I say anything like 'forget about it"? I see you have comprehension problems...while your mallam is chasing Diezani, the likes of Fashola who dug one borehole for half a million dollars or Ameachi who erroneously paid $757 million of Rivers money into a personal account are being rewarded with Ministerial positions and all you can think of is opening a discussion thread? Who has time for such nonsense? Tell your mallam to hang ALL, not some of the thieves but seeing that he's one of them, I don't see that happening. Right now Tinubu is neck deep in the Remita saga concerning the TSA...a criminal of international standards and you APC lot are here chasing shadows. I can't be the problem of this nation, hypocrites like you are

FATYTOY:
But a recent report which supposedly emanated from the Central Bank of Nigeria, CBN, may have rubbished Fayose’s belief as it was stated that the parent body of REMITA had existed for about 20 years while REMITA, which is not even a company, has been in existence for about 10 years.

The report also showed that REMITA is not solely entitled to the one percent. Other participating banks are to share from the amount.

Wondered if anybody read this part at all

ahnie:
Opportunity makes the thief.even sanusi lamido is also a cruel thief.boths are thieves.

lookandlaff:
engage your brain, do the math, stop assuming that comments are based on tribe, religious or party affilations, some people just deal in facts. Good people can be wrong and bad people can be right, deal in facts and common sense. Mr Jesus Loves you, God gave you a brain, you mock him when you fail to engage it.

bros856:
They will not charge her(Deziani) to court because in all the deals and money she stole unfortunately our big bros Jonathan Goodluck is involved, he signed and approved them, same with Okonji Iwela. Buhari will never prosecute them because of Jonathan involement in all their deals. There was a peace pack sign during election and part of it is that he has to free Jonathan.

ahnie:
Opportunity makes the thief.even sanusi lamido is also a cruel thief.boths are thieves.

str8talk1:
But u use N100m of tax payers money to buy ur current position for d Kano emirship whn u were d CBN Governor in d disguise of relief to victims of Boko haram attacks. Executive recklessness and corruption wt arrogance was displayed.
Unfortunately,GEJ was so daft dat he wasnt able to decrypt ur ulterior motive.

TEREMMA:
with dat type of money wey dem say she pocket,she fit get the best makeup artist to make look like that, 2face wife done show us how cancer patients de look,well done by Nigerians makeup artist

chukwudi44:
Sanusi how much exactly is missing? Yoy started with $49billion,came down to $10billion and went up again to $20billion and now again you are telling us $6billion? Are northern emirs usually this stupid and confused?

southniyikaye:
oga just shup up and die with these silly questions you keep asking everyday .you are neither a CBN governor nor are you the petroleum minister.you are not even an ordinary nairaland mod(sorry to the mods) and you keep ranting everyday asking for the exact figure.the accuser and accused knows what they are talking about so make we hear word abeg.stealing dey una blood no be you go tell us that one or what do you mean by defending a criminal? If sanusi was wrong ,why was he suspended? Maybe you should answer this?ignorant idiot that has no respect for monarch.idiots fooling themselves every where they go.

Mprepz:
Are you trying to tell me that sanusi is not a thief and a big liar!

obailala:
Stop being clever by half, pause for a second of your life and stop viewing everyy issue from the angle of politics/ethnicity /emotions. There is a reason the figures changed and even primary school pupil understands the explanation but I'm sure you wouldn't still understand even if it is explained to you a thousand times.

There was no way any man could say exactly how much was missing (if any) especially when NNPC refused to cooperate with the CBN. With information available to the CBN, SLS declared a shortfall of $50bn. After public outcry over the allegation, the uncooperative NNPC finally releases some more receipts explaining that ~$40bn was their operating expenses. And then the unaccounted figure was reduced to $10bn (even NOI agreed to this figure and even claimed it was actually $10.8bn).

After further scrutiny of the extra receipts produced by NNPC, SLS declared that the actual amount was even meant to be $20bn. That was how the figure arrived at $20bn; even though NNPC claimed ~$10bn was spent on a nonexistent kerosene subsidy.

External auditors were brought in to audit NNPC accounts, the NNPC and then FG refused to open their books to the auditors thereby rendering the last audit useless. Up till date, no one really knows how much is unaccounted for or how much is missing in the NNPC.

I'm sure with the simple explanation above, you will still return to blame SLS for not sticking to a figure or for not being able to calculate mathematics.

TheGoodJoe:
What proof do you want? GEJ, Iweala and Diezani brought PWC to Audit NNPC and they discovered that about $20 Billion was not remitted to the federation.

TheGoodJoe:
You are fantastic at decieving people. This is not about just Emir Sanusi but the PWC Report that proved Emir Sanusi was right.

I repeat, the PWC proved that Emir Sanusi was right. NNPC is not denying that about $20 Billion was not remitted to the Federation account.

If you like, continue spreading false information to support an evil doneto this nation. Let your conscience be the judge.

chukwudi44:
Sanusi how much exactly is missing? Yoy started with $49billion,came down to $10billion and went up again to $20billion and now again you are telling us $6billion? Are northern emirs usually this stupid and confused?

chukwudi44:
Sanusi how much exactly is missing? Yoy started with $49billion,came down to $10billion and went up again to $20billion and now again you are telling us $6billion? Are northern emirs usually this stupid and confused?

smuth:
[b][size=13pt]Since you claim nobody knows the exert figure missing...abeg how did Mallam Sanusi now arrived to the fact that money is missing?...was he acting on hear say or he actually saw the money get missing? If it is by hear say then his admition that money got missing cannot be trusted, if he actually saw the money get missing then why is he confused as to the actual figure? Look we all know money get missing in every Ministry in Nigeria...

Anybody can come out and reveal to the public that 70 billion dollars in missing in NITEL when we all know if their account is audited we will discovered atleast one third of that amount will be missing considering the persived corruption rocking NITEL and other ministries, NNPC is not an exception...i promise you that if the present administration decides to audit the CBN account during Mallam Sanusi tenure we will see how much get missing under his watch. It just pains me why politicians see some people as gullable and they proof to them even with their level of education that they are really gullable, including you...sorry but that's just the truth.[/b][/size]

smuth:
[size=13pt]Look we all know money get missing in every Ministry in Nigeria...Anybody can come out and reveal to the public that 70 billion dollars in missing in NITEL when we all know if their account is audited we will discovered atleast one third of that amount will be missing considering the persived corruption rocking NITEL and other ministries, NNPC is not an exception...i promise you that if the present administration decides to audit the CBN account during Mallam Sanusi tenure we will see how much get missing under his watch. It just pains me why politicians see some people as gullable and they proof to them even with their level of education that they are really gullable, including you...sorry but that's just the truth.[/size]

obailala:
Lol.. I knew for a fact that I was talking to an olodo... thats why I made the earlier statement that even with 1000 explanations, you will still come back dancing with the same question. No be your fault though, you may not be an olodo in other things but due to sentiments, you have chosen to be one here.

If the oil price was $100/barrel and NNPC claims they sold 100 barrels in a given period, then the gross figure made by NNPC should be $10,000. If NNPC claims they used 1000 for standard operating costs and 1000 for haulage and 1000 for reinvestment, you dont need to be a prophet to know that 7000 should be left. So if NNPC eventually pays only $2000 to CBN, it is common sense for CBN to ask NNPC what happened to the remaining 'unaccounted' $5000. By the way the word unaccounted means 'not accounted for', it does not implicitly mean 'stolen'. CBN/SLS has simply asked NNPC to explain or provide receipts for what they did with the remaining $5000; bring the money or account for the money (i.e. show us the receipts).

3Ceagle:
Seriously speaking I don't know what and who to believe. People just kept on pushing out figure and the gullible masses just take the figures to the Beer parlour. All those who have been in place of managing Nigerian funds have their hands soiled, no doubt about that, the question should be who, how much and where are the funds. The masses should learn to dispersionately dissect all the misinformation we hear around us. If anyone has proof to nail this woman or any other past or present leaders, let him or her bring them out or forever remain silent. This is the reason we keep moving in a cycle, movement without motion. If the government cannot provide true figures, how much she stole and where the fund are for proper prosecution, then let all leave this woman alone.

Mprepz:
WTF... Lwkm
ur lst sentence was the bomb!

TheGoodJoe:
I am gullible to what? This is the largest heist in the history of the Nation. GEJ proved that the money is missing. You were shouting all over the place for proof when the proof was in front of your very eyes and you are saying Gullible.

Diezani brought this up and chose to lie despite the glaring fact being public. This is not someone coming out and accusing someone. This is about a big crime committed against Nigeria and the culprit trying to bury an obvious truth.

mondee02:
Then let those that have the prove go and arrest her

TheGoodJoe:
If you read the articles, you will not ask this kind of question.

Read at least read the first two paragraph below and enlighten yourself.



[b]Remember The King?

A quick recap of what started all of this – King Mohammed Sanusi II, in his former life as SLS, the Central Bank Governor, told the nation that, based on what he had calculated, NNPC sold $67bn worth of crude in the period from January 2012 to July 2013. He then said that as custodian of the nation’s purse, he had only received $47bn of this amount. In other words, up to $20bn of the money was not accounted for.

Contrary to popular perception, SLS never did say the money had been stolen and he certainly didn’t name any names in his 300 page report submitted to the National Assembly. His main issue at the time was that, as CBN Governor, his job was to manage the exchange rate and the nation’s reserves. If there was $20bn out there in the wild, then his job was being made a lot harder than it needed to be.

He identified 3 ways in which the country was losing money as follows

1. Strategic Partnership Agreements – In 2011, as part of the efforts to promote local content, Shell sold its shares in 5 oil fields where NNPC was the majority shareholder. Shell had been the operator of these oil wells but NNPC awarded the operator rights to its subsidiary NPDC i.e. it allowed Shell to sell its shares but not the rights to operate them as it previously did.

NPDC then signed an ‘agreement’ worth almost $7bn with Seven Energy (3 fields) and Atlantic  Energy (2 fields) for them to operate the fields. These companies of course had no clue how to operate the oil fields – Atlantic was registered as a company the day before it signed the agreement – so they sub-contracted the work to other companies. Seven Energy’s contract entitled it to 10% of the profits from the 3 fields while Atlantic was entitled to 30% of profits in its 2 fields.

SLS complaint was that these 2 companies were pointless and were just collecting money – that should have accrued to Nigeria – for doing nothing. Why didn’t NPDC just sub-contract the work by itself? The 2 companies also did not pay any taxes or royalties whatsoever to Nigeria.

2. Kerosene Subsidies – This one is fairly straightforward to understand. SLS did an analysis of kerosene prices in all 36 states of the federation in his report and found that prices ranged from N170 to N270 per litre.

Importers bring in kerosene and sell it to government at N140/litre. The government then sells it to local retailers at N40/litre with the understanding that they sell it to the ‘common man’ at N50/litre i.e government subsidises it by N100/litre. The retailers take the kerosene and sell it for what they like as stated above.

There is no sweeter corruption than this one. According to SLS, Nigeria was spending $100m per month on this pointless exercise. Not a single Nigerian anywhere bought kerosene for the ‘official’ N50/litre.

3. Swaps – Even with all the money going into NNPC, like a true apa, it is always broke. Due to the semi-dead refineries we have, NNPC of course has to import refined products (petrol and kerosene) but it often doesn’t have the money to pay importers in cash. So what it does it tell importers to import the refined products, then calculates the value of that product in crude oil and pays the importers with crude oil. This is how human beings traded before money was invented – by barter.

The problem here is that SLS said he had no idea how the amount of crude to be swapped for refined products was calculated. All he was able to find was that at one point, NNPC was ‘swapping’ 200,000 barrels of crude per day. That is a lot of crude. Did Nigeria get that much value in refined products? Who knows?

http://aguntasolo.com/2015/04/29/this-yam-this-goat-this-country-part-1/[/b]

TheGoodJoe:
If you read the articles, you will not ask this kind of question.

Read at least read the first two paragraph below and enlighten yourself.



[b]Remember The King?

A quick recap of what started all of this – King Mohammed Sanusi II, in his former life as SLS, the Central Bank Governor, told the nation that, based on what he had calculated, NNPC sold $67bn worth of crude in the period from January 2012 to July 2013. He then said that as custodian of the nation’s purse, he had only received $47bn of this amount. In other words, up to $20bn of the money was not accounted for.

Contrary to popular perception, SLS never did say the money had been stolen and he certainly didn’t name any names in his 300 page report submitted to the National Assembly. His main issue at the time was that, as CBN Governor, his job was to manage the exchange rate and the nation’s reserves. If there was $20bn out there in the wild, then his job was being made a lot harder than it needed to be.

He identified 3 ways in which the country was losing money as follows

1. Strategic Partnership Agreements – In 2011, as part of the efforts to promote local content, Shell sold its shares in 5 oil fields where NNPC was the majority shareholder. Shell had been the operator of these oil wells but NNPC awarded the operator rights to its subsidiary NPDC i.e. it allowed Shell to sell its shares but not the rights to operate them as it previously did.

NPDC then signed an ‘agreement’ worth almost $7bn with Seven Energy (3 fields) and Atlantic  Energy (2 fields) for them to operate the fields. These companies of course had no clue how to operate the oil fields – Atlantic was registered as a company the day before it signed the agreement – so they sub-contracted the work to other companies. Seven Energy’s contract entitled it to 10% of the profits from the 3 fields while Atlantic was entitled to 30% of profits in its 2 fields.

SLS complaint was that these 2 companies were pointless and were just collecting money – that should have accrued to Nigeria – for doing nothing. Why didn’t NPDC just sub-contract the work by itself? The 2 companies also did not pay any taxes or royalties whatsoever to Nigeria.

2. Kerosene Subsidies – This one is fairly straightforward to understand. SLS did an analysis of kerosene prices in all 36 states of the federation in his report and found that prices ranged from N170 to N270 per litre.

Importers bring in kerosene and sell it to government at N140/litre. The government then sells it to local retailers at N40/litre with the understanding that they sell it to the ‘common man’ at N50/litre i.e government subsidises it by N100/litre. The retailers take the kerosene and sell it for what they like as stated above.

There is no sweeter corruption than this one. According to SLS, Nigeria was spending $100m per month on this pointless exercise. Not a single Nigerian anywhere bought kerosene for the ‘official’ N50/litre.

3. Swaps – Even with all the money going into NNPC, like a true apa, it is always broke. Due to the semi-dead refineries we have, NNPC of course has to import refined products (petrol and kerosene) but it often doesn’t have the money to pay importers in cash. So what it does it tell importers to import the refined products, then calculates the value of that product in crude oil and pays the importers with crude oil. This is how human beings traded before money was invented – by barter.

The problem here is that SLS said he had no idea how the amount of crude to be swapped for refined products was calculated. All he was able to find was that at one point, NNPC was ‘swapping’ 200,000 barrels of crude per day. That is a lot of crude. Did Nigeria get that much value in refined products? Who knows?

http://aguntasolo.com/2015/04/29/this-yam-this-goat-this-country-part-1/[/b]

chukwudi44:
Shut up bro!! They have nothing on her or Jonathan!!!

ahnie:
Opportunity makes the thief.even sanusi lamido is also a cruel thief.boths are thieves.