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Friday, July 11, 2014

Senate Says $49bn Oil Fund Alleged Missing By Sanusi Is Not Missing....




The Senate, yesterday, cleared the air on the alleged missing $49 billion oil revenue as it said there was no missing fund as alleged, but un-remitted funds which should be remitted to the Federation Account.



The Senate, while adopting the Senator Ahmed Makarfi-led Finance Committee report on the alleged missing money as claimed by the former governor of Central Bank of Nigeria, CBN, Mallam Sanusi Lamido Sanusi, who is now the Emir of Kano, also rejected the Federal Government’s plan to remove the subsidy on the petroleum products, saying government should embark on sensitisation of the public because of the effects it would have on the common man.
The Senate further mandated its committee on finance to follow up and receive the forensic audit reports from the Auditor General of the Federation and the Price Waterhouse Coopers, PWC, and also study and report back to the Senate as soon as possible.


In a 21-point recommendation, the Senate accepted the subsidy deducted by the Nigerian National Petroleum Corporation, NNPC, from January 2012 July 2013 of US$5.254 billion (N813,803 billion) since it was certified by Petroleum Product Pricing Regulatory Agency, PPPRA, and appropriated by the National Assembly.


It asked NPDC, a subsidiary of the NNPC, “to remit to the Federation Account $447.8 million being balance of royalty and petroleum profit tax.”
According to the recommendation, “NNPC should refund and remit to the Federation Account $262 million being expenses it could not satisfactorily defend in respect of Holding Strategic Stock Reserve; Pipeline Maintenance and Management Cost and Capital Expenditure.”....culled



*hmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmm

16 comments:

  1. Its so unfortunate That this is the kind of Nigeria we found ourselves, where everything works in anticlockwise direction, today they our leaders say one thing, and tomorrow they say a different thing, its appalling and repugnant


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    ReplyDelete
    Replies
    1. What do expect from a country that is run by retired fools..they think Nigerians r blind

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      Delete
  2. Thank God the money is not missing again.

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    ReplyDelete
  3. Abeg make una go sleep, we are used to daily fraud news. Next plz.... #alinko

    ReplyDelete
  4. Lol...Nigeria is an example of a joke country in monopoly...the money is not missing but unremittin.. Please wats the difference...if that huge amount is not where it should be, then it's missing... It's as simple as ABC...anyway thank God una don find am...Na wa

    ReplyDelete
  5. Replies
    1. Hian!!! Only in Nigeria. Smh

      Delete
  6. This country has finally turned to be a joke.

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  7. Maybe they think we don't understand English. Money is not missing but un-remitted...No difference.

    ReplyDelete
  8. This people are Jokers, do they think we are fools abi?! Madueke + Jonathan and the rest should just keep it up

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  9. If it wasn't remmitted theb it is missing. If he hadn't shouted, how would we have known that the money wasn't remmitted. What are they waiting for that made them not remit the money? If u pay in money into ur account in a bank and your account is not credited, won't u say the money is missing?

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  10. Maybe you should have rephrased your statment "CLEARED THE AIR". There is no air that has been cleared here. If there is something yet to be remitted then there is something missing. if it is not $49 billion then it is some BILLIONS. Why are we being so gullible? Allowing these cheap people to play politics with our minds. We are the ones suffering the pains these corrupt people make us go through. Sanusi has cried over the stolen fund from what the country generates. Instead of us to support his claim, even with the discrepancies in the amounts he mentioned, we are all cursing him out. The truth is, the stolen money does not affect Sanusi's financial status, it is US, THE MASSES that suffer this. With this kind of thinking, how do we expect our sufferings to be ameliorated. We will continue to suffer. Obviously, Stella has something against Sanusi. It has shown in your previous post on him. Use your strength to sensitize people on how to stand for what is right, not to draw stupid news without posting relevant questions.

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  11. Ok i don hear. Once all of them don chop them go cover am up…hmmm..

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  12. Like someone posted, they are only making Sanusi look like a Saint. They are now confirming the allegation that he raised. If money is not remitted into the federation account and Sanusi cried foul that some money is missing in the federation account, what is the difference? When you use REMIT and MISSING in trying to confuse the masses then it shows how these corrupt leaders of ours make us look stupid in front of the whole world. Unfortunately, someone has not stood up openly to defend Sanusi.

    ReplyDelete

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