₦airaland Forum

2/4

He who laugh last,last most

Hope dat madman no dey there.. D 1 wwif d fake signs

Billyonaire: A tout in Government house, see how low Wole Soyinka has gone to embrace an uncultured tout cos of penny penny.

WE ARE ALL BORN MAD

SOME REMAIN SO e.g billynonire etc

**** bcus dey gat no brain like ear-wax

Kingspin: Non-remittance of $49.8 bn: NNPC says Sanusi playing politics. BY CHRIS OCHAYI, ABUJA:
The allegation of non-
remittance of $49.8 billion oil
revenue made the Nigerian
National Petroleum
Corporation, NNPC, by the Governor of Central Bank of
Nigeria, CBN,Sanusi Lamido
Sanusi took a new dimension
on Friday as the Corporation
accused the CBN Governor,
Sanusi Lamido Sanusi, of turning the issue into a
political instrument. Group Managing Director, GMD,
of the NNPC, Engr. Andrew
Yakubu, described the CBN
allegation as unfounded and
baseless because the apex
bank has always been a major player in the oil and gas value
chain. Nothing that the NNPC was not
a sole player in the business of
oil and gas value chain, Engr.
Yakubu named CBN, FIRS and
DPR as members the that meet
regularly to reconcile liftings, sales and remittances of oil
proceeds, adding “We meet on
a monthly basis and all the
players are always there and
they all sign up on this”. He said “In fact our data was
compiled from signed up
documentation. I will not say
the CBN was not aware
because they are always at the
meeting and they also sign up the documentation and
reconciliation documents”. According to him, “I want to
say clearly that the allegation is
unfounded, it is baseless and it
has become a political
instrument in the current
politically charged environment. And I will
consider it as an attempt to
ridicule NNPC staff and the
management of NNPC. “We will continue to keep our
operations in high integrity
and transparency and we are
available at any point in time
to reconcile numbers as we do
in our operations.” Engr. Yakubu spoke further, “as
you are well aware, it is not in
our character to join issues or
trade blames with other
agencies of government. But
considering the high level of publicity that the recent letter
from the Governor of the
Central Bank of Nigeria, CBN, to
the President has generated,
and the erroneous impression
it has created among Nigerians. It has become
necessary to set the records
straight. “The statement credited to the
CBN Governor that NNPC has
failed to remit the sum of $
49.8bn representing 76% of
total national oil receipts is
borne out of a surprising lack of understanding of how
revenues from crude oil sales
are remitted into the
Federation Account. “I will therefore explain the
process and put the figures in
perspective in order for you to
understand and let the world
know that NNPC is not in the
business of withholding any crude oil receipts due the
Federation Account or any
other statutory remittances.” Yakubu explained further that
“”all NNPC crude oil liftings is
made up of the following;
Equity Crude, Royalty Oil,Tax
Oil,Volume for Third Party
Financing, and NPDC equity volume. “It is important to
stress that remittances of
proceeds from the above
liftings are made according to
statutory and production
arrangements. “Accordingly, proceeds from
Equity crude is paid by NNPC
into the Federation Account
which is held by the Central
Bank of Nigeria. Proceeds from
Royalty oil is paid to Department of Petroleum
Resources, DPR, whose
designated account is
managed by the same CBN. “Similarly, the proceeds from
Tax Oil or Petroleum profit Tax
lifted by NNPC is paid directly
into the Federal Inland
Revenue Service, FIRS, account
also managed by the CBN. “It should now be clear to all
that NNPC is by statutory
requirement responsible for
direct remittances of only one
stream of liftings, namely
Equity Crude.” “Analysis of the figures is as
follows; the CBN letter claims
that for the period 1st Jan 2012
to 31st July 2013, total National
crude oilliftings was 1.287
billion barrels. Our records show that the total national
crude lifting for the same
period was actually higher at
1.330 billion barrels.
Furthermore, total NNPC
liftings during the same period was again higher at 618.552
million barrels as against the
594.024 million barrels stated
by CBN. “We further wish to state that
the proceeds from the total
NNPC liftings comprising
Federation Equity, Royalty Oil,
Tax Oil, Volume for Third Party
Finance and NPDC equity amount to US$67.12bn as
against the $65.33bn that the
CBN stated. “NNPC remitted its portion
which is $18.48bn (27.5%) into
the Federation Account being
the total proceeds from Equity
Crude and gas sales of which
CBN acknowledged receipt of $ 15.528bn (24%).
At this point, we wish to
categorically state that all the
proceeds from NNPC have been
remitted as statutorily
required.
www.vanguardngr.com

To serve mah nation with all my strength

Eeya

Ok

In the END...TIME will change THINGS

.

Hmmmmm

Hmmmm



E.T.T




Am gunna kill mysef oooo

Ist
to

comment

gtrust: RESPECT!
If you lack RESPECT then you're INDISCIPLINE! Definition (bad behaviour; unwillingness to obey orders)

Who re you?
Every learn doctor is entitle to his/her opininon,I will be d last citizen to respect jonathan


WHEN WILL NIGERIA BE GREAT?

Before nko

Fill in d missing word

1) JONA____ (a) daft (b) sick (c) slowpoke

2)Shepopo_____ (a) tamus (b)gbagaun (c)ugly

3) FRESH______ (a) AIR (B) suffering (c) hell

4) _____luck. (a)bad (c) suffering (c)corruption

5)_____ AMAECHI. (A)ANTI (b) POST (c)NATAL



Your time start NOW

Later tinx

seunlayi: Top what? or what can we call this when an issue is pressing hard on the mind of some people. I don't know what to call this type of people

Dis type of people re called. SEUNLAYI "HE HAS NO SUCH BRAIN AS EAR-WAX"


CLOtHES MAKE THE MAN.NAKED PEOPLE HAvE LITTLE OR NO InFLUENCE ON SOCIETY



Pls help d person in question Mr SEUNLAYI GOOdluck

No need wwasting mah blood, in nigeria we kno ow tinx end... Daylite banish

tm-tech:
.

You not only dull in yourself, but you re the cause of dullness in others

"Y first to comment?

Top 5

My igbo neighbour are protesting for a "gentle woman on the highway" n sum 4 "Light finger"

Profkomolafe: verily verily i say un2 u, i dy find UNLIKE link 4 ur status bt i no see.

You go see am 4 cementary

What do u expect?

D power blinded guy executed his girlfriend





D lion king fins

GOODLUCK
GREATEST


AFRICAN






Anti corruption
Anti subsidy
Anti obj
Anti ASUU
Anti sure-P
Anti amaechi


Miss shepolopolo (shepopotamus)

Like if u agree jonathan better than d rest




MY GREATEST AFRICAN is "PAUL RuSteTeBAGGini"
He help accomodating 1000+ hutu n tutsi during d 1994 rwanda tribal war
He was not a tribal biggot

Waf mah concern


Goodluck indeed