vedaxcool:
Omooba77 mb done finish abi why he log out come dey look at this thread as guest.

Sai Baba oh pls have mercy on your gal ohh

Mynd44:
Lmaoooooo .


Please tell us something we dont know

agabusta:
If the deleted clause was a loophole, the discretionary powers given to the oil minister in the Petroleum Act was a spade that helped Mrs Alison-Madueke dig into depths previously unknown. The entire petroleum industry is controlled by the president and the minister; the former appoints the latter who is then empowered by law. Only the National Assembly could have checked her excesses, but it didn’t.
“The political pressure on petroleum ministers to finance elections has turned NNPC into petty cash machine for government”, says Bassey (last name withheld for anonymity), an industry insider. “That the minister has discretionary powers that makes things worse and that’s what we’re trying to unbundle with the PIB. Discretion can make or mar our industry but it is clear what happens in Nigeria.”

Who and what institutions dropped the ball and allowed her fully exercise those powers? “The CBN was definitely not one of them, because Mr Sanusi kept harping on the rot in the oil sector”, said Mr. Bassey. “The greatest enablers of corruption are civil servants who keep quiet or look the other way to save their jobs because of the god complex of chief executives in Nigeria. Red flags were raised only because of inter-agency collusion with banks, audit firms etc.”

“The government is one single unit”, emphasises Kola Banwo of Abuja-based Civil Society Legislative Advocacy Center. “Institutions have roles but usually, with the nature of patronage and corrupt party system we operate, corruption is endemic. The NNPC has internal mechanisms and systems to prevent fraud. The relevant National Assembly Committees have oversight roles and could have prevented this. The Office of the Auditor-General could also have made some difference. The EFCC, ICPC, etc. However, these all formed part of the problem and so did nothing then. Some action from one or all of these, could have reduced if not prevented what happened during that period.”
Those in the know say it was the impunity with which Mrs. Alison-Madueke broke the rules that set her apart from those before her. There were times when she stopped receiving visitors at the office and made them come to her in the comfort of her official residence. She would keep governors waiting for hours, dodge calls from CEOs and chairpersons of multinationals, employ domestic staff on the bill of the corporation and more.

Mrs. Alison-Madueke allegedly requested kickbacks from her collaborators to approve some contracts and the infamous oil swaps which President Buhari ended in November 2015. Mr. Aluko for instance, admitted paying rent for Mrs Beatrice Agama’s luxury home in Parkwood Point, St. Edmund’s Terrace, St. John’s Wood, London, describing it as “simply gifts to a friend, given long after Atlantic had signed its deal.”
In October 2014, in the run-up to the 2015 elections, Bernard Otti a director at the NNPC was appointed deputy group managing director (Finance and Accounts), a position created entirely out of thin air. The press release justified his appointment as needed to transform NNPC into a commercially-driven entity but the truth was that he had to close some deals to secure election funding.

After Mr. Buhari’s inauguration, he ran to the UK after reportedly entering a plea bargain with the EFCC; With his help, the EFCC traced monies allocated for the Ekiti gubernatorial elections and other issues. His retirement was later announced by Mr. Kachikwu in August 2015.
Audits by both PwC and KPMG showed that the NNPC had at its discretion, spent an average of $6 billion annually from 2011 to 2013 and there were no watertight records. A similar amount had also not been remitted on a yearly basis by NNPC to the CBN.
After studying the patterns and making calculations, Mr Sanusi cried out in a September 2013 20-page memo to Mr. Jonathan that $20 billion was missing. The NNPC claimed the money had been spent on subsidy payments for kerosene and pipeline maintenance even though Mr. Yar’adua had ended the payments in July 2009. Another audit by PwC was submitted before the 2015 elections but never released by the government.

“Civil society has always suspected that there was corruption in the oil sector”, said Mr. Banwo. “When information of extravagant spending for maintain jet emerged, civil society raised alarm, called for investigations and her immediate resignation or removal, which the then president ignored. The NASS set up a committee to probe but nothing came out of it.”

“When in 2015, the then CBN Governor alleged that she was responsible for the missing $20 Billion from the NNPC coffers, civil society also initiated a campaign for her investigation and removal. The impunity in the then government allowed her get away with the deeds.”
If Mrs. Alison-Madueke was Princess Di, then Mr Aluko, who was last seen in Porza-Lugano, Switzerland, in 2016, was The Fresh Prince. He owned a private jet and an $80 million yacht, Galactica Star; in September 2013, it was rented to Jay-Z and Beyoncé at the cost of $900,000 a week for two weeks for the latter’s 32nd birthday party. A big fan of Ayrton Senna, he is also a car racing enthusiast and placed third with a Ferrari 458 GT2 at Rome’s Vallelunga circuit in December 2012. Mr Aluko was also the owner of the eighth most expensive condo in New York, costing a mere $50 million.

The U.S. Department of Justice (DOJ) has filed a lawsuit under its Kleptocracy Asset Recovery Initiative against the trio asking for the forfeiture of assets worth $144 million, proceeds from the oil contracts. Mr. Aluko remains elusive while Mr. Omokore has been arraigned in court since July 2016. Mrs. Alison-Madueke herself has been arrested even though she is yet to be tried in court. The proverbial mills of God that grind slowly, seem to at last be grinding well.

“She kept saying ‘when we come back’, says Mr. Bassey. “She did not think that Jonathan would lose the elections. Maybe the opaque deals would have continued till now.”
Beyond Mrs. Alison-Madueke and her oil men, perhaps the biggest fear of stakeholders in the industry is that there could be deja vu in this administration or another. As the salacious details of her time in government circulate, the loopholes that made this possible remain open. The NNPC is still devoid of political independence and total transparency. Newcomers to the party will be happy to take notes – literally.


This report was made possible by the BudgIT Media Fellowship 2017 with support from Natural Resource Governance Institute.


http://www.premiumtimesng.com/news/headlines/242769-special-report-diezani-men-deals-bled-nigeria.html

Osezua:
I have not seen anywhere an individual is held liable for awarding due contracts to Nigerians. Are we saying that for awarding contracts to JB, if JB makes money it would now become corruption? Why would somebody hold Diezani for giving due contracts to Jide Omokore and Kola Aluko? All these stories don't add up. Every Minister for Petroleum gave juicy contracts to Nigerians; are we holding them for corruption because those that executed the contracts are billionaires? EFCC should face somewhere else. It has failed in this one

Paperwhite:
Good radiance to bad rubbish. Everyday one story or the other to continue to bemuse Nigerians about their gross ineptitude.What have been done about the controversial "budget padding", corruption scandals involving top echelons of the APC government among many.Santimonious sinners.

DonVikings:
Ipob piglets, lifetime defenders of filth in government, food is ready! !!

When you are done praying to chukwu Abuko Kulikuli, come and remind us of Tinubu and co.

DonVikings:
Ipob piglets, lifetime defenders of filth in government, food is ready! !!

When you are done praying to chukwu Abuko Kulikuli, come and remind us of Tinubu and co.

agabusta:
If the deleted clause was a loophole, the discretionary powers given to the oil minister in the Petroleum Act was a spade that helped Mrs Alison-Madueke dig into depths previously unknown. The entire petroleum industry is controlled by the president and the minister; the former appoints the latter who is then empowered by law. Only the National Assembly could have checked her excesses, but it didn’t.
“The political pressure on petroleum ministers to finance elections has turned NNPC into petty cash machine for government”, says Bassey (last name withheld for anonymity), an industry insider. “That the minister has discretionary powers that makes things worse and that’s what we’re trying to unbundle with the PIB. Discretion can make or mar our industry but it is clear what happens in Nigeria.”

Who and what institutions dropped the ball and allowed her fully exercise those powers? “The CBN was definitely not one of them, because Mr Sanusi kept harping on the rot in the oil sector”, said Mr. Bassey. “The greatest enablers of corruption are civil servants who keep quiet or look the other way to save their jobs because of the god complex of chief executives in Nigeria. Red flags were raised only because of inter-agency collusion with banks, audit firms etc.”

“The government is one single unit”, emphasises Kola Banwo of Abuja-based Civil Society Legislative Advocacy Center. “Institutions have roles but usually, with the nature of patronage and corrupt party system we operate, corruption is endemic. The NNPC has internal mechanisms and systems to prevent fraud. The relevant National Assembly Committees have oversight roles and could have prevented this. The Office of the Auditor-General could also have made some difference. The EFCC, ICPC, etc. However, these all formed part of the problem and so did nothing then. Some action from one or all of these, could have reduced if not prevented what happened during that period.”
Those in the know say it was the impunity with which Mrs. Alison-Madueke broke the rules that set her apart from those before her. There were times when she stopped receiving visitors at the office and made them come to her in the comfort of her official residence. She would keep governors waiting for hours, dodge calls from CEOs and chairpersons of multinationals, employ domestic staff on the bill of the corporation and more.

Mrs. Alison-Madueke allegedly requested kickbacks from her collaborators to approve some contracts and the infamous oil swaps which President Buhari ended in November 2015. Mr. Aluko for instance, admitted paying rent for Mrs Beatrice Agama’s luxury home in Parkwood Point, St. Edmund’s Terrace, St. John’s Wood, London, describing it as “simply gifts to a friend, given long after Atlantic had signed its deal.”
In October 2014, in the run-up to the 2015 elections, Bernard Otti a director at the NNPC was appointed deputy group managing director (Finance and Accounts), a position created entirely out of thin air. The press release justified his appointment as needed to transform NNPC into a commercially-driven entity but the truth was that he had to close some deals to secure election funding.

After Mr. Buhari’s inauguration, he ran to the UK after reportedly entering a plea bargain with the EFCC; With his help, the EFCC traced monies allocated for the Ekiti gubernatorial elections and other issues. His retirement was later announced by Mr. Kachikwu in August 2015.
Audits by both PwC and KPMG showed that the NNPC had at its discretion, spent an average of $6 billion annually from 2011 to 2013 and there were no watertight records. A similar amount had also not been remitted on a yearly basis by NNPC to the CBN.
After studying the patterns and making calculations, Mr Sanusi cried out in a September 2013 20-page memo to Mr. Jonathan that $20 billion was missing. The NNPC claimed the money had been spent on subsidy payments for kerosene and pipeline maintenance even though Mr. Yar’adua had ended the payments in July 2009. Another audit by PwC was submitted before the 2015 elections but never released by the government.

“Civil society has always suspected that there was corruption in the oil sector”, said Mr. Banwo. “When information of extravagant spending for maintain jet emerged, civil society raised alarm, called for investigations and her immediate resignation or removal, which the then president ignored. The NASS set up a committee to probe but nothing came out of it.”

“When in 2015, the then CBN Governor alleged that she was responsible for the missing $20 Billion from the NNPC coffers, civil society also initiated a campaign for her investigation and removal. The impunity in the then government allowed her get away with the deeds.”
If Mrs. Alison-Madueke was Princess Di, then Mr Aluko, who was last seen in Porza-Lugano, Switzerland, in 2016, was The Fresh Prince. He owned a private jet and an $80 million yacht, Galactica Star; in September 2013, it was rented to Jay-Z and Beyoncé at the cost of $900,000 a week for two weeks for the latter’s 32nd birthday party. A big fan of Ayrton Senna, he is also a car racing enthusiast and placed third with a Ferrari 458 GT2 at Rome’s Vallelunga circuit in December 2012. Mr Aluko was also the owner of the eighth most expensive condo in New York, costing a mere $50 million.

The U.S. Department of Justice (DOJ) has filed a lawsuit under its Kleptocracy Asset Recovery Initiative against the trio asking for the forfeiture of assets worth $144 million, proceeds from the oil contracts. Mr. Aluko remains elusive while Mr. Omokore has been arraigned in court since July 2016. Mrs. Alison-Madueke herself has been arrested even though she is yet to be tried in court. The proverbial mills of God that grind slowly, seem to at last be grinding well.

“She kept saying ‘when we come back’, says Mr. Bassey. “She did not think that Jonathan would lose the elections. Maybe the opaque deals would have continued till now.”
Beyond Mrs. Alison-Madueke and her oil men, perhaps the biggest fear of stakeholders in the industry is that there could be deja vu in this administration or another. As the salacious details of her time in government circulate, the loopholes that made this possible remain open. The NNPC is still devoid of political independence and total transparency. Newcomers to the party will be happy to take notes – literally.


This report was made possible by the BudgIT Media Fellowship 2017 with support from Natural Resource Governance Institute.


http://www.premiumtimesng.com/news/headlines/242769-special-report-diezani-men-deals-bled-nigeria.html

troubleseller:
What is all these?

bolubillionaire:
Why do these people keep washing the eyes of Nigerians with these mind blowing figures...

And What I dont understand is why this Lady is still walking free.
If truly she committed these crimes, let her arrested, tried and sentenced in a competent court.
Enough of the media trials already... Haba Buhari, its been well over two years now and no one has been sentenced to death or imprisonment...


Besides sef, what has been happening to the recovered loots?

lexy2014:
rubbish