₦airaland Forum

Gbawe: You are so emotional even your spelling ability is gone "looser".

wesley80:
Zenon isn't on the list! Maybe you consider this news but I certainly do not, why? cos there really was no reason for it (Zenon) to be indicted by Farouks committee in the first place, like Otedola always maintained, Zenon only dealt with unsubsidized Diesel.

The Federal Ministry of Finance set up another committee in May to scrutinise the fuel subsidy payments to marketers during the 2011 financial year. The ministry had been surprised that despite paying N1.7 trillion in subsidy by December 2011 and another N450 billion this year to clear the 2011 backlog, outstanding claims still remained from 2011.

The finance ministry’s committee was headed by banker and member of the Economic Management Team (EMT), Mr. Aigboje Aig-Imoukhuede, and comprised representatives of the Central Bank of Nigeria (CBN), Budget Office of the Federation, Debt Management Office, PPPRA, Independent Petroleum Marketers Association of Nigeria (IPMAN), Major Marketers Association of Nigeria (MOMAN), and Office of the Accountant General of the Federation. Managing Director/Chief Executive Officer of Stanbic IBTC Plc, Mrs. Sola David-Borha, served as secretary to the committee.

The Committee decided that the scope of this investigation should be for three years 2009 -2011 for the following reasons:
•
The actual budget expenditure on subsidy for both PMS and HHK was tolerable, being N261.1b in 2006, N278.8b in 2007 and N346.7b in 2008. 5 companies including NNPC were involved in 2006, 10 in 2007 and 19 in 2008 contrasted to 140 in 2011.
•
Secondly, in line with accounting practice, the Committee decided to investigate three years activities of the scheme.
•
The Committee could have chosen to limit the investigation to 2011 alone given the scale of escalation of subsidy in that year alone but decided to take three years to establish a trend.

SPECIAL REPORT

Aig-Imoukhuede fuel subsidy report reveals gaps in Farouk Lawan-led House of Representatives probe, write Festus Akanbi and Vincent Obia

The presidential committee set up by President Goodluck Jonathan to verify and reconcile all fuel subsidy claims and payments made between 2009 and 2011 submitted its report on Friday with the revelation of significant gaps in the report of the House of Representatives ad hoc committee on fuel subsidy.

Jonathan had constituted the committee, headed by Access Bank managing director and chief executive officer, Mr. Aigbo Aig-Imoukhuede, on July 5 and given it one week to verify and reconcile all claims made in the report of the Technical Committee on Fuel Subsidy Payments set up by the Federal Ministry of Finance and identify cases of overpayment or irregular payment. It was also mandated to identify for possible criminal prosecution all likely fraudulent cases, review any other pertinent issue that may arise from its work, and make appropriate recommendations.

Protest
The presidential subsidy review committee submitted its interim report to the president at the weekend. Although, details of the latest report were yet to be made public at the time of going to press, reliable sources said it merely confirmed the earlier report which had nailed a number of fuel marketers for abuse of the fuel subsidy funds.

The presidential committee came on the heels of denials and allegations of witch-hunting from the camp of indicted fuel marketers following the publication of the report of the Technical Committee on Fuel Subsidy Payments, which incidentally was also headed by the Access Bank helmsman.....


......However, the Federal Ministry of Finance, in a response to the complaints of the affected companies decided to set up the technical committee, which was also headed by Aig-Imoukhuede, to verify and reconcile the findings of the Technical Committee on Payment of Fuel Subsidies that he had earlier led.

The essence of the committee was apparently to give marketers indicted in the first report an opportunity to provide documentary evidence to clarify the findings of the technical committee, given that most of them had complained they were not given a fair hearing. The committee, which submitted its findings on Friday, upheld the earlier verdict of the Technical Committee on Payment of Fuel Subsidy.

Names missing in farouk lawan's report
1. Valviza Petroleum Ltd
2. MRS Oil and Gas Co. Ltd
3. Aiteco Energy Ltd
4. Eterna Plc
5. Forte Oil Plc
6. Rahamaniya
7. Sahara Energy Ltd
8. Oando Plc
9. Folawiyo Energy Ltd
10. Geacon Energy Ltd
11. Northwest Petroleum and Gas Ltd
12. Venro Energy Ltd
13. Brittania-U Nigeria Ltd
14. Lloyds Energy Ltd
15. Majope Investment Ltd
16. African Petroleum Plc
17. Masters Energy Oil and Gas Ltd
18. Pvn Capital Ltd
19. Sirius Taglient Ltd
20. Tempo Energy Ltd
21. Bodej Investment Ltd
22. Practoil Ltd
23. Avidor Oil and Gas Company Ltd
24. Colbert Energy Ltd
25. July Seventh Oil and Gas Ltd
26. Mecuria Global Energy
27. Momats Oil and Gas Ltd
28. Rainoil Ltd
29. Xalon Petroleum Ltd
30. Xavier Energy Nig Ltd
31. KMCL
32. First Independent Nig Ltd
33. Tahill and Tahill Nig Ltd
34. Aquitane Oil and Gass
35. Quagga Oils Ltd
36. Reliance Petroleum Ltd
37. Crustream Nig Ltd
38. Dan Oil and Petrochemical Ltd
39. Midas Oil and Gas Ltd
40. Nupeng Venturers Ltd
41. Vita Cam Services
42. Viva Energy Ltd
43. Tamil and Tamil Nig Ltd
44. Fargo Int. Ltd
45. Mezcor Sa
46. Absaf Petroleum and Company Ltd
47. Delmar Petroleum Company Ltd
48. Tamzila Petroleum Company Ltd
49. A.A Rano Nig Ltd
50. Fatgems Pet Co. Ltd

wesley80: ^ What's your BP current reading? I see we've been at this for some time its only fair that I put the bloviating eediot out of his misery. Sit tight doofus, and remember to engage your brain.here It comes.

Gbawe: Dude, give it up !!! This display from you is pathetic and cringe-worthy - even for the most die-hard GEJ fan on NL!!!!
Don't you see that your usual 'pals' are not here to support you? They see that you are here on your own because , spin or dance around as you want, even a 2 year old can tell you lied here and was exposed ruthlessly for doing so. Now rather than own up and move on, you are writhing around shamelessly like a fish wife.

The more you talk the more disgraced you are. To be honest, I have to give you GEJ fans credit for having no shame whatsoever and for not "giving a damn" at all. You guys are something else. You are , in particular, shameless beyond belief !!!!! Simply incredible !!!

Gbawe: Olodo not even bright enough to realise the rudiments of spam prevention ala flexible configuration. M.or.on. I cannot believe you are this slow.


http://www.ntchosting.com/videos/how-to-set-email-spam-filters.html

afam4eva: Nna na wa oo. You guys take politics too seriously. If this were real life now, many people on this forum would have been Assasinated. That's why i don't like politics. With the kind of anger exibited by Gbawe and Wesley80, anything can happen. You guys should chill out abeg.

It is even sad to see Wesley80, a chap with an analytical mind who used to do justice to threads with logical criticism, now turn mischief-maker because of the assumption it is now fashionable to be that way.

gbawe123:
OAM4J and Jarus, this is Gbawe. I had to create this user name as I was automatically banned for trying to expose the lies and deceit of Wesley80 here

gbawe123: Instead of coming here with you patronising tone, you should show me what constitute spam in my post or simply apologize for your spambot which is highly partisan IMO

jmaine: Total,Oando, MRS et al., indicted in this interim report, how interesting . . .

Now the milli naira question is this . . . is Otedola Zenon among them . . .that will be a debate cruncher if his name reappears or disappears from the indicted crew

tongues will wag ceaselessly

By Muhammad Bello in Abuja
It was by no means a respite for some oil marketers as the subsidy review committee chaired by Access Bank Managing Director and Chief Executive Officer, Mr. Aigboje Aig-Imoukhuede submitted its interim report to President Goodluck Jonathan yesterday, still indicting most marketers.

The committee was set up by the president to verify and reconcile the findings of the Technical Committee on Payment of Fuel Subsidies (also chaired by Aig-Imoukhuede) established by the Federal Ministry of Finance to conduct a detailed review of all subsidy claims and payments made in 2011.

The essence of the committee was apparently to give marketers indicted in the first report an opportunity to provide documentary evidence to clarify the findings of the technical committee, given that most of them had complained they were not given a hearing.

Some major oil marketers comprising Oando Plc, Forte Oil Plc, Total Nigeria Plc and MRS Plc, among scores of other independent oil marketers and importers of petrol, were named in the report of Aig-Imoukhuede’s verification committee as having committed multiple infractions in the fuel subsidy scheme.

The infringements – 17 in all – were said to have cost the nation N422,542,937,668.59 in overpayments.

Speaking on why the committee’s report was considered interim, Senior Special Adviser on Media and Publicity to the President, Dr. Reuben Abati, said the committee “wanted more time to tidy up certain aspect of their work before they will bring the full report.” He couldn’t however say how long it would be before the committee submits the final report.

Although the submission was not made publicly, a Presidency source told THISDAY that most of the marketers did not deny their complicity in the subsidy fraud. “Some were literally crying; that they simply took advantage of loopholes in the system. So they couldn’t provide any evidence to the contrary,” the source explained.

In the course of carrying its mandate, the committee was said to have set up four panels where indicted marketers had appeared to clarify the findings of the technical committee. The source added that the findings had shocked the president and that he is “dead serious” about prosecuting the marketers. “He has got law enforcement agencies to get the data base of all these marketers, and has also asked the SSS to go to the Corporate Affairs commission and unmask the directors of these companies. The president urged them to take note of those that may pose a flight risk and directed that the Interpol be contacted to be on the lookout,” the source added.

THISDAY learnt that the 15-member committee had been assisted by CBN officials, SSS, director of public prosecution from the justice ministry and the Serious Fraud Office of the Nigeria Police Force.

Jonathan last week inaugurated the committee and gave it a timeline that lapsed on Friday to submit its report. The terms of reference of the committee were: to further verify and reconcile all claims made in the report of the Technical Committee on Fuel Subsidy Payments; and to properly identify all cases of overpayment and/or irregular payment.

Others were to: accurately identify all likely fraudulent cases for criminal investigation and review any other pertinent issues that may arise from its work and make appropriate recommendations.

Details of the 17 infractions, which had been reported exclusively by THISDAY, were contained in the report of the verification committee.

Independent oil marketing companies mentioned in the report include Capital Oil & Gas, NIPCO Plc, SPOG Petrochemical Limited, Sahara Energy Limited, Masters Energy, Honeywell Oil & Gas, Rahamaniyya Oil & Gas, Atieo Energy Resources Limited, Eterna Plc, Obat Oil & Petrol Limited and Folawiyo Oil Limited, among others.

VoodooDoll: ^^^ You obviously know nothing about ethical standards, and I'm afraid there are not enough days in many lifetimes for me to teach these standards to you. I recommend you try Google.com.

Kobojunkie: Could we please stop feeding the "trolls" on these important threads??

by Lawani Mikairu and Daniel Eteghe Jul 13, 2012 (Vanguard/All Africa Global Media via COMTEX) -- Preliminary report on the Dana plane that crashed on 3rd June 2012 at Iju-Ishaga, Lagos released yesterday by the Accident Investigation Bureau, AIB, said that the Captain tried starting the failed two engines mid-air when the engines packed up and after several failed attempt "the Capt informed the Flight Officer, FO, "we just lost everything, we lost an engine. I lost both engines". This is coming as the report said the crash was not caused by contaminated fuel. The plane, a Boeing MD-83, with registration no 5N-RAM on a domestic scheduled commercial flight, operated by Dana Airlines Limited as flight 992 (DAN 992), crashed into a densely populated area during a forced landing following a total loss of power in both engines while on approach to Muhammed Murtala Airport (LOS), Lagos, Nigeria. According to the report, "the airplane was on the fourth flight segment of the day, consisting of two round-trips between Lagos and Abuja. The accident occurred during the return leg of the second trip. DAN 992 was on final approach for runway 18R at LOS when the crew reported the total loss of power. "According to interviews, the flight arrived in ABV as Dana Air flight 993 about 1350. According to Dana Air ground personnel, routine turn-around activities occurred, including refueling of the airplane. DAN 992 initiated engine startup at 1436, taxied to the runway and was later airborne at 1458 after the flight had reported that it had a fuel endurance of 3.5 hours. "Shortly after takeoff, DAN 992 reported 1545 as the estimated time of arrival at LOS as the flight climbed to a cruise altitude of 26,000 ft. DAN0992 made contact with Lagos Area Control Center at 1518 hours. "According to the report,the cockpit voice recorder (CVR) retained about 31 minutes of the flight and starts about 1515 at which time the captain and first officer were in a discussion of a non-normal condition regarding the correlation between the engine throttle setting and an engine power indication. "However, they did not voice concerns then that the condition would affect the continuation of the flight. The flight crew continued to monitor the condition and became increasingly concerned as the flight transition through the initial descent from cruise altitude at 1522 and the subsequent approach phase. "DAN 992 reported passing through 18,100 and 7,700 ft, respectively, at 1530 and 1540 hours. After receiving a series of heading and altitude assignments from the controller, DAN 992 was issued the final heading to intercept the final approach course for runway 18R. "During the period of 1537 and 15:41 the flight crew engaged in pre-landing tasks including deployment of the slats, and extension of the flaps and landing gear. At 15:41:16 the first officer (FO) inquired, "both engines coming up?" and the captain (Capt) replied "negative." "The flight crew subsequently discussed and agreed to declare an emergency. At 1542:10, DANA 992 radioed an emergency distress call indicating "dual engine failure . . . negative response from throttle." "At 1542:35, the flight crew lowered the flaps further and continued with the approach and discussed landing alternatively on runway 18L. At 1542:45, the Capt reported the runway in sight and instructed the FO to raise the flaps up and 4 seconds later to raise the landing gear. "At 1543:27 hours, the Capt informed the FO "we just lost everything, we lost an engine. I lost both engines". During the next 25 seconds until the end of the CVR recording, the flight crew was attempting to restart the engines. "The airplane crashed in a residential area about 5.8 miles north of LOS. The airplane wreckage was on approximately the extended centerline of runway 18R. During the impact sequence, the airplane struck an incomplete building, two trees and three buildings. The wreckage was confined, with the separated tail section and engines located at the beginning of the debris field. "The airplane was mostly consumed by post crash fire. The tail section, both engines and portions of both wings, representing only about 15% of the airplane were recovered from the accident site for further examination. "The two flight recorders, the Cockpit Voice Recorder (CVR) and the flight data recorder (FDR) were analysed at the facilities of the National Transportation Safety Board (NTSB), Washington, D.C., USA. The solid state based memory in the CVR was in good condition and retained 31 minutes of audio information. The digital tape based memory in the FDR succumbed to the post crash fire and melted, consequently no data could be recovered. "The captain, age 55, held an airline transport pilot license with type ratings in the A-320, DC-9, FK-28, and SF-340. He had over 18,116 hours of total time, including 16,416 hours of pilot-in- command time (PIC). The captain had 7,461 hours in the accident model airplane all of which was as PIC. He was employed with Dana Air on 14 March 2012. "He began flying line operations for the company in late May 2012 and had since accrued over 120 hours of flight time. The captain had acquired about 3, 78, and 116 flight hours, respectively, in the preceding 24 hours, 30 and 90 days. "The first officer, age 34, held a commercial pilot license he was type rated in MD-83. He had 1,143 hours of total time, including about 200 hours as pilot-in-command. The first officer had 808 hours in the accident model airplane all of which was second-in-command. "He had been previously employed with Dana Air as the Director of Cabin Service before he was hired as a pilot about January 2011. The first officer had accrued about 3, 42, and 154 flight hours, respectively, during the preceding 24 hours, 30 and 90 days. "The airplane was manufactured in 1990 and according to maintenance records it had accumulated 60,846 hours (35,219 cycles) of total time. The left and right engines respectively had 54,322 (30,933 cycles) and 26,025 (12,466 cycles) hours of total time since new. "A review of the aircraft technical logs did not reveal of the previous 30 days did not indicate a condition. The airplane had last undergone maintenance on 1st June 2012, and after a return to service flight on 2nd June 2012, it was operated on four revenue flights (two round trips between LOS and ABV) and another four flights on 3rd June 2012. Fueling records indicated the airplane was uplifted with 8000 lbs of fuel before departure from ABV. The flight crew reported to ATC they had 26,000 lbs of total fuel. Preliminary analysis of fuel samples from the refueling truck and the supply tank at ABV were negative for contamination. The investigative activities have included, in part, visual examination of the aircraft wreckage, review of maintenance records and other historical information of the aircraft, documentation of the training and experience of the flight crew, determination of the chronology of the flight, review of recorded data, reconstructing the aircraft refueling, and collection of related fuel samples, and interviews of relevant personnel. "Future investigative activities will include, but is not limited to, the detailed examination of the engines, further testing of fuel samples, continued factual gathering of relevant historical, operational, maintenance and performance information of the accident airplane in addition to other similar airplane models, further development of the background of the flight crew, further analysis of the CVR audio recording and review of pertinent issues associated with regulatory oversight. "As the State of Occurrence, the Accident Investigation Bureau (AIB) has instituted an investigation in accordance with the standards and recommendations specified in the provisions of Annex 13 of the International Civil Aviation Organization. "As the State of manufacture of the airplane and engine, a US Accredited Representative has been appointed and assisted by US technical advisors from the NTSB, US Federal Aviation Administration, Boeing Airplane Company, and Pratt & Whitney Engines. In accordance with Annex 13, "the sole objective of the investigation of an accident or incident shall be the prevention of accidents and incidents. It is not for the purpose of this activity to apportion blame or liability."

lepasharon: wats wrong with it?

VoodooDoll: Ethical standards state that Perception of impropriety in matters of serious national interest is as bad as actual impropriety as it discolours and discredits the outcome and or deliverables.