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Nairaland Forum / Nairaland / General / Business / NNPC Starts Refunding $1.48billion To Federation-diezani (953 Views)
NNPC Pays N85bn Into Federation Account / Kachikwu: From 2016, Refineries Will Pay Directly To Federation Account / BREAKING: Audit Report Indicts NNPC, Corporation To Refund $1.48billion (2) (3) (4)
NNPC Starts Refunding $1.48billion To Federation-diezani by Jetjacky(m): 4:54pm On Apr 22, 2015 |
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. http://www.punchng.com/news/nnpc-starts-refunding-1-48bn-to-federation-account-diezani/
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Re: NNPC Starts Refunding $1.48billion To Federation-diezani by kestolove95(m): 4:57pm On Apr 22, 2015 |
Nonsense...u must enter prison na $20 billion b our moni not dat rubbish u guys are returning |
Re: NNPC Starts Refunding $1.48billion To Federation-diezani by superstar3: 5:08pm On Apr 22, 2015 |
Hehehe!!! See the fear of GMB. |
Re: NNPC Starts Refunding $1.48billion To Federation-diezani by one9jeria: 5:09pm On Apr 22, 2015 |
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Re: NNPC Starts Refunding $1.48billion To Federation-diezani by jamislaw(m): 5:15pm On Apr 22, 2015 |
GMB my heroe.....Ameachi my role model. It high time all these looters should return our looting treasures or face the rot of gmb.......Kirikiri is answer. 1 Like |
Re: NNPC Starts Refunding $1.48billion To Federation-diezani by jamislaw(m): 5:16pm On Apr 22, 2015 |
GMB my heroe.....Ameachi my role model. It high time all these looters should return our looting treasures or face the rot of gmb.......Kirikiri is answer. |
Re: NNPC Starts Refunding $1.48billion To Federation-diezani by Babprosper20(m): 5:29pm On Apr 22, 2015 |
kkkkkkkkkkk |
Re: NNPC Starts Refunding $1.48billion To Federation-diezani by Jetjacky(m): 5:37pm On Apr 22, 2015 |
cc lalasticlacla this deserves front page |
Re: NNPC Starts Refunding $1.48billion To Federation-diezani by hahn(m): 5:40pm On Apr 22, 2015 |
The $20bn nko? |
Re: NNPC Starts Refunding $1.48billion To Federation-diezani by Nobody: 5:42pm On Apr 22, 2015 |
From all this report,I have concluded that it was as how sanusi said it,its actually $20b,not the $1.48b been said by the cooper's company.so they are telling us if cooper said $20b they will refund it.naija I hail. |
Re: NNPC Starts Refunding $1.48billion To Federation-diezani by Jetjacky(m): 5:59pm On Apr 22, 2015 |
ezex:that's a point, but for her to say she ain't scared speaks volumes |
Re: NNPC Starts Refunding $1.48billion To Federation-diezani by Nobody: 10:46pm On Apr 22, 2015 |
Jetjacky:time will definitely tell,we are watching closely. |
Re: NNPC Starts Refunding $1.48billion To Federation-diezani by Ymodulus: 7:10am On Apr 23, 2015 |
lalasticlala Typing.... Never imagined dividend of Change could arrive so quickly even before Buhari gets the key to Aso Rock. This sort of speedy action by Diezani is what happens when you have purposeful leadership at the top. Mere threat of imprisonment works. It is also shameful that, rather than talk of pushing back, Mrs. Madueke should be telling Nigerians why the money did not make it into the Federation account in the first place. 1. Why did it take forensic accountants to find the money,. 2. How many more forensic accounting needs to be conducted to see where Nigeria's money has is? 3. How long has the NNPC been sitting on that pile of cash,. 4. Who controlled the account the money was sitting in. 5. How much interest has accrued?. 6. Where is it the interest payments? 7. Did the outgoing President know about NNPC sitting on the money, who else knew what was going on? 8. Is this part of the money that was alleged by now Emir Sanusi II that was stolen or unaccounted for? Reporters should ask these officials tough questions and not just report what they say. No one is answering any question on this billion dollar questions. Lastly The time has come that, President Buhari needs to seriously look into gradually phasing out the importation of petroleum products. We simply have no business importing them. We have a vast network of NNPC pipelines and depots that have been deliberately ruined by the powers that be. The refineries should be made to function for once. We waste a lot of scarce foreign currencies importing needelessly. The best way to shore up the value of the naira is by looking inwards and increasing wealth generation within the country. Not by having "containers on the high sea." and killing the local industry. 2 Likes 1 Share |
Re: NNPC Starts Refunding $1.48billion To Federation-diezani by Nobody: 7:25am On Apr 23, 2015 |
Ymodulus:Couldn't have said it any better. The mere threat of imprisonment works when people realize that they may have to pay for their crimes. |
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