Today's National Newspaper Headlines/News - 28/4/2015

Good Morning!

PUNCH

*NNPC AUDIT REPORT EXPOSES DOUBLE SUBSIDY PAYMENTS

PricewaterhouseCoopers, the firm of forensic auditors hired by the Federal Government to probe the Nigerian National Petroleum Corporation, has indicted the corporation of making double subsidy claims on petrol and kerosene.

“Our examination of the PMS and DPK import verified by PPPRA revealed that some discharges were apparently verified and subsidy advised to NNPC more than once,” the report stated.

PwC alleged “repeated subsidy” for PMS amounting to N3,709,879,190 ($23,954,796) and another “repeated subsidy” for DPK amounting to N6,169,502,266 ($39,836,652). It added that the there was another $36.05m “over-statement” in PPPRA’s PMS subsidy payment advice to the NNPC.

It also called for a review of the current NNPC Act to make it pay all revenues accruing from crude oil sales into the Federation Account.

In the final report made available by the government on Monday, the auditors said the the corporation over-claimed $980m (N19.3bn based on the interbank exchange rate of N197 to a dollar) as subsidy on Premium Motor Spirit and Dual Purpose Kerosene between January 2012 and July 2013.

*‘Missing’ $20bn oil money: I have nothing to hide, Jonathan tells Buhari

*B’Haram fighters in military uniforms kill 21 in Yobe

*Xenophobia: South Africa to release avictims’ names

*FG names streets after Jonathan, others

*We’ve arrested over 400 pirates – NCC

*We’ve not recalled envoys from S’Africa, say Presidency

*Switzerland no longer safe for illicit funds –Envoy

*Jonathan sacks NHIS boss, names Peter Obi SEC chair

*My eyes on NFF presidency – Okocha

*Hazard named PFA player

*Nigerians should pray for Buhari’

*North-East deserves Senate presidency – Ndume

*Don’t marginalise S’East, S’South, Uduaghan warns APC

*Teenager abducts, rapes two-year-old girl

*Five-year-old boy kidnapped in Lagos, found in Ogun

*Fashola urges researchers to be

more creative

THIS DAY

*PwC Report: No $20bn Missing But Cites Several Infractions by NNPC

*Lagarde: FG’s Fiscal Measures to Manage Oil Price Slump, Excellent

*UBA on Path to Improved Profitability, Management Assures Shareholders

*Suspected Boko Haram Gunmen Kill 21 in Yobe

*Collapsed Bridge: Tricycle Operator Escapes Death by a Whisker in Kano

*Jonathan Sacks Femi Thomas, NHIS Executive Secretary

*Unknown Gunmen Bomb Local Radio Station in Okene

*South-east, South-south Groups Demand Self-determination

*Boko Haram is a Fraud, Says Buhari

*Constitution Amendment: FG’s Claim of Litigation a Blatant Lie, Says Senate

*Presidency Denies Recalling Nigerian Envoy to S’Africa

*Buhari Bans AIT from Covering His Activities

*Tension in Ekpan Near Warri as Gunmen Kill Community Leader

*Lagos Urges Buhari, N’Assembly to Include 37 Councils in Constitution

*Renewed Rival Cult War Claims Five Lives in Edo

*NJC Insists It Has Power to Find Justice Gummi Guilty of Gross Misconduct

*No Safe Haven for Looted Funds in Switzerland, Says Envoy

*Aliyu: I’m Going on Four Years Sabbatical

*FG Issues RFPs to Seven Prospective Concessionaires for Warri Port

*‘Lagos Lost 157 Lives, N23bn in Fire Disaster in 2014’

THE NATION

*The multi-billion dollar NNPC fraud, by auditors

*Mimiko gets new deputy as Ondo House sacks Olanusi

*I’m ready for probe after tenure, says Jonathan

*Babatope gets knocks for backing illegality

*Constitution: Jonathan files fresh application in Supreme Court

*Oyo Tribunal gets 12 petitions

*$370m Abacha loot traced to Luxembourg

*NCP okays bidders’ proposal for Warri terminal

*Arik Air pays N4 billion to Fed Govt

*Lagos: Counting the gains of climate change summits

*Toriola wriggles into main draw of singles event

*Surveyors caution agents on misconduct

*Hoodlums beat up workers at Ibadan firm

*Youths protest power outage in Badagry

*Agbakoba: Nigeria can save N300b yearly from aviation cabotage

*Cabotage: Nigeria loses N1.8tr yearly to foreign ship owners.