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REVEALED: Jonathan Is Panicking Over The Missing $20bn - Politics - Nairaland

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REVEALED: Jonathan Is Panicking Over The Missing $20bn by NewsINigeria(m): 11:31am On Apr 29, 2015
[img]http://www..com.ng/wp-content/uploads/2015/04/the-m-300x196.jpg[/img]

REVEALED: Jonathan Is Panicking Over The Missing $20bn

$20bn Oil Fraud: Jonathan Administration Pressured PricewaterhouseCooper To Revise Report
One day after President Goodluck Jonathan authorized the release of a version of a forensic audit of $20bn that is reportedly missing from Nigeria’s crude oil sales, an oil industry expert retained by Sahara Reporters to look at the report has stated that the Nigerian government appeared to have pressured the auditors, PricewaterhouseCooper, to revise parts of its preliminary report.

After analyzing the audit report, the expert concluded that the much-anticipated release of the audit report of Nigeria’s accounts and the Nigerian National Petroleum Corporation (NNPC) has provided few insights into the $20 billion that was allegedly not remitted to the Federal Accounts.

Jonathan authorized the release of a version of the report one day after Muhammadu Buhari said

his administration would immediately investigate the allegation by former Central Bank Governor Sanusi Lamido Sanusi to the effect that the NNPC had failed to account for more than $20 billion in crude oil exports by Nigeria.

“The report reveals that PricewaterhouseCooper was recalled by Nigeria’s auditor general in January 2015 to share its original findings with the NNPC,” said the expert. He added, “At this point, PwC received ‘a significant amount of additional information’ from the NNPC, which was not reportedly not provided during the original review period. Consequently, the so-called updated report released by Jonathan contains significant changes from the previous report.”
He stated that it was important to investigate the nature of the “additional information” produced by NNPC “to determine whether it was simply a tactical deployment of deceptive data and information to color the audit outcome.”

According to the Abuja-based expert, “it is highly curious that the NNPC was apparently inept in the quality of information it originally provided to the auditors. Given the charged nature of the controversy generated by the matter, one would expect that the NNPC would be scrupulous in providing exhaustive information to PricewaterhouseCooper at the initial stages of the audit.” He stated that it was important to examine and evaluate the additional information to ascertain that it was not part of a scheme to compromise the audit process.

The oil sector expert added that it was significant that, despite the revision, the sanitized version of the audit still indicated “there was a shortfall of $1.48 billion in oil revenue that the NNPC needed to refund to the Federal Accounts.”

Our expert also remarked that the PwC report also admitted that it did not even constitute an audit. He pointed to a section of the report that read, “the procedures we performed did not constitute an examination or review in accordance with generally accepted standards or attestation standards.” The PwC report also warned that its findings cannot “be relied upon by any other party (third party)” to Nigeria’s auditor-general. “This is another curious aspect of the audit,” according to our expert. “Basically, it’s as if the audit company was telling the world that the work they set out to do did not follow stringent standards of auditing. And yet, the Jonathan administration had promised Nigerians a thorough audit. And a thorough-going audit is certainly what the government owes the Nigerian people.”

PwC is one of the world’s leading audit and consulting companies. SaharaReporters could not ascertain how much PwC charged the Nigerian government for its work on the saga of $20 billion in missing oil revenue.

Read more>>> http://www.justyouchat.com/jonathan-is-panicking-over-the-missing-20bn/
Re: REVEALED: Jonathan Is Panicking Over The Missing $20bn by pedel: 11:33am On Apr 29, 2015
Before nko?
Re: REVEALED: Jonathan Is Panicking Over The Missing $20bn by drtwist(m): 11:34am On Apr 29, 2015
'
Re: REVEALED: Jonathan Is Panicking Over The Missing $20bn by NCOIM(m): 11:37am On Apr 29, 2015
Jobless OP

Failed APC machinery
GeJ doesn't have time to rant like the senile one

3 Likes 1 Share

Re: REVEALED: Jonathan Is Panicking Over The Missing $20bn by emyibe(m): 11:49am On Apr 29, 2015
GEJ OUR NEXT UN SEC GEN! HOW IT WILL HAPPEN I DO NOT KNOW. BUT WILL IT HAPPEN? YES IT WILL.

1 Like 1 Share

Re: REVEALED: Jonathan Is Panicking Over The Missing $20bn by SLIDEwaxie(m): 11:50am On Apr 29, 2015
NCOIM:
Jobless OP

Failed APC machinery
GeJ doesn't have time to rant like the senile one
he will overrant for court like an insane one grin grin

1 Like

Re: REVEALED: Jonathan Is Panicking Over The Missing $20bn by kestolove95(m): 11:53am On Apr 29, 2015
I just dey pity dat man call gej
Re: REVEALED: Jonathan Is Panicking Over The Missing $20bn by NCOIM(m): 11:57am On Apr 29, 2015
SLIDEwaxie:
he will overrant for court like an insane one grin grin

Another Joseph grin
Wake up you are in yabaleft cheesy grin
Re: REVEALED: Jonathan Is Panicking Over The Missing $20bn by SLIDEwaxie(m): 12:01pm On Apr 29, 2015
NCOIM:


Another Joseph grin
Wake up you are in yabaleft cheesy grin
another pharaoh, u better allow ur hatred to desert u now grin before u perish for red sea
Re: REVEALED: Jonathan Is Panicking Over The Missing $20bn by Nobody: 12:04pm On Apr 29, 2015
kestolove95:
I just dey pity dat man call gej
pity ur poor family, goat
Re: REVEALED: Jonathan Is Panicking Over The Missing $20bn by Nobody: 12:05pm On Apr 29, 2015
pedel:
Before nko?
shut up there
Re: REVEALED: Jonathan Is Panicking Over The Missing $20bn by Nobody: 12:06pm On Apr 29, 2015
SLIDEwaxie:
he will overrant for court like an insane one grin grin
lunatic idiot
Re: REVEALED: Jonathan Is Panicking Over The Missing $20bn by OrlandoOwoh(m): 12:32pm On Apr 29, 2015
NCOIM:
Jobless OP

Failed APC machinery
GeJ doesn't have time to rant like the senile one
How I wish you knew the difficulty Jonathan is passing through over the revelation of the PWC, you won't be here compounding it.
Re: REVEALED: Jonathan Is Panicking Over The Missing $20bn by NCOIM(m): 12:44pm On Apr 29, 2015
GEJ
Ride on sire!!! grin

Haters will die hating grin
Re: REVEALED: Jonathan Is Panicking Over The Missing $20bn by joystickextendr: 12:59pm On Apr 29, 2015
okay
Re: REVEALED: Jonathan Is Panicking Over The Missing $20bn by wachakuta(m): 1:05pm On Apr 29, 2015
GEJ and goons... hmm i for see kirikiri
Re: REVEALED: Jonathan Is Panicking Over The Missing $20bn by Nobody: 1:18pm On Apr 29, 2015
Halelujah jonadapht is going to jail grin
Re: REVEALED: Jonathan Is Panicking Over The Missing $20bn by Nobody: 1:19pm On Apr 29, 2015
wachakuta:
GEJ and goons... hmm i for see kirikiri
amen o!

1 Like

Re: REVEALED: Jonathan Is Panicking Over The Missing $20bn by NCOIM(m): 1:25pm On Apr 29, 2015
APC E-trolls can form Joseph eh grin

Nobody should wake them up o grin grin
Re: REVEALED: Jonathan Is Panicking Over The Missing $20bn by pedel: 3:05pm On Apr 29, 2015
jack67:
shut up there
Is this how your parents brought you up? to be insulting people you don't know?
Re: REVEALED: Jonathan Is Panicking Over The Missing $20bn by OoduaVanguard: 3:08pm On Apr 29, 2015
NCOIM:
Jobless OP

Failed APC machinery
GeJ doesn't have time to rant like the senile one

Yeah right! The same 'failed' machinery that trounced a sitting gov't/incumbent president for the first time in the history of Nigeria. Your eye still never clear?

1 Like

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