The Minister of Petroleum Resources, Mrs. Diezani Alison-Madueke, on Wednesday disclosed that the Nigerian National Petroleum Corporation has started refunding $1.48bn into the Federation Account as recommended by an audit firm, PriceWaterHouse Coopers.
She however did not disclose how much has so far been refunded by the corporation.
She also denied reports that she was seeking the assistance of some highly-placed persons in other to get soft landing from the incoming administration of Gen. Muhammadu Buhari (retd.).
Alison-Madueke spoke with State House correspondents at the end of the weekly meeting of the Federal Executive Council at the Presidential Villa, Abuja.
It will be recalled that the Federation Account Allocation Committee on Monday night constituted a committee to find out the reasons for the delay in the refund of the sum.
PriceWaterHouse Coopers had in its forensic audit report of the corporation recommended that the NNPC should refund the amount to the Federation Account.
The firm was last year hired to carry out the audit following an allegation by the former Governor of the Central Bank of Nigeria, Lamido Sanusi, that $20bn was not remitted to the Federation Account by the NNPC.
PWC had stated in the report that while the total gross revenue generated from crude oil lifting was $69.34bn between January 2012 and July 2013 and not $67bn as earlier stated by the Senate Reconciliation Committee, what was remitted to the Federation Account was $50.81bn and not $47bn.
The audit report revealed that $28.22bn was the value of domestic crude oil allocated to the NNPC, adding that total amount spent on subsidy for Premium Motor Spirit was $5.32bn.
Alison-Madueke however explained that the unremitted fund was owed by NPDC for a block that had been assigned from NNPC to NPDC.
She said, “The PriceWaterHouse Coopers forensic audit that was done a few weeks ago, in its recommendation mentioned that $1.48bn was owed by NPDC for a block that had hitherto been assigned from the NNPC to NPDC which is its subsidiary.
“They felt that the right process would be that NPDC will refund that money to the Federation Account. NPDC has apparently started those refunds and it is also in discussion with NNPC and DPR on same. So the refund has actually begun.”
While saying that the payment was being done under her directives, she insisted that the sum was not missing but transferred by the NNPC to NPDC which is a subsidiary. Click to signup for FREE news updates, latest information and hottest gists everyday
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So, Lamido Sanusi is finally justified with what he said... may God help us in this country.. bunch of thieves..
ReplyDeleteThis woman must have studied pen robbery in school.
ReplyDeleteOleee!! Barawo, our women leaders are bunch of thieves, we don't want them in public position again, they mismanage and abuse their offices and overdo things
ReplyDeleteSanusi Lamido was removed by GEJ for his honesty .Imagine the way this man GEJ is running Nigeria, installing thieves in strategic positions to be stealing for him upon all the salary the nation is paying him.It is bad and quite unbelievable.No honest person stay long in Jonathan's Cabinet.What a fraudulent leader.It is all over.Thank God.
ReplyDeleteBros have u all forgotten so soon. Common stealing u are calling it corruption? Stealing is not corruption- GEJ. As for those that have squandered our national wealth may God destroy them
ReplyDeleteSanusi claimed it was $49b missing....that's a very far cry from $1.48b. Not justifying any theft, but as the head financial regulator for this country, he should have carried out his research properly before speaking in haste. His action suggested that he was working against the govt of the day
ReplyDeleteBros or sister, your own sentiment too much. abi you no fit read the story and comprehend. Even if you no like Sanusi you no like truth? I beg o. Please change to move Nigeria forward.
DeleteAh Ah! Where is the stealing here and by whom is the stealing? Do you know more than the UK. Auditors?
ReplyDeleteWhich Uk auditors! PWC in Nigeria. They are thieves! We need to deal with those audit firms that call white black in their reports. They are only working for their money and not interested in saying the truth if you can play ball with them. Remember Author Anderson saga and that of Cadbury. They are like that each time they audit in Nigeria. Let us wait, we shal see more of shocking revelations as from June 2015.
DeleteTypical black man that believes a white man is better than him. How can you progress?
DeleteIf you've forgotten, NNPC said there was no money missing at all.
An average man with a basic level of common sense will know that because there is definitely money missing, something has to be paid back in the name of something legitimate so it appears as if no crime was committed and the books are now balanced.
Stealing by transfer, you for be my lover but you too thief.
ReplyDeleteThis frog eye woman is a real thief. I want Buhari probe all these looters in NNPC. Also the ministers etc. You can never go free. You will end up in jail. Fucking thief
ReplyDeleteMake una just let sai GMB take over first. una go hear his address to the nation that day.
ReplyDeleteUK dont dont have what they sell, they sell and buy money, that is what they do in Africa with foolish governments.
ReplyDeleteWhy did NNPC have to wait till after elections to commence this so-called refund.
ReplyDeleteWhich means, if not for God, had it being that GEJ/PDP won, she would have just kept quite and ignored the voice of Nigerians.
Thank God that changed has indeed come to Nigeria. Hallelujah!!!