theredaddy:



What is germane about the point Atiku raised, for years NNPC as failed to remit funds to CBN as enacted, all directives to enforce cooperative as failed why waste more time

IF by provision NNPC is compelled to remit proceeds to CBN, what makes it wrong if CBN takes over the whole process, as a concern citizen the most important thing is sales are made are remmitted to the final account

Yorubas adage says, ka lo idí mö aso abi ka ló aso mo idi .. kii idi ma sha ti gbofo i.e whether you rope your ass around a wrapper or vice versa make yansh sha no dey nake,

The point he's making is the illegality and unworkability of that directive. I actually thought it was fake news when I first saw it.
By the laws creating CBN, its job is to manage the money space of Nigeria. It is not a commodity trading establishment.
By the law creating NNPCL, it is a trading company. So it is CBN is totally not equipped to trade commodities.
Now if you say because NNPCL is corrupt, you want to hand over a critical part of their work to CBN, has CBN proven to be of better behaviour than NNPCL in the first place? Or is it not same CBN that incurred 27trn debt on behalf of Nigeria with no accountability whatsoever under Buhari? Is it not same CBN that has mismanaged or foreign reserves as well as our local currency?
How is CBN a better entity to manage crude sales than NNPCL? Does CBN have the operational competence and structure to carry the job out more effectively than NNPCL?
Atiku proposed bringing in NEITI to be an ombudsman for NNPCL upstream operations. It is a pity most of you don't know what NEITI is which is why you're all making bogus allegations that Atiku is benefitting from NNPC's corruption.
Another proposal he made is for CBN to have a representativeon NNPCL's board to vet NNPCL's books though I don't know how effective that will be.
But if Tinubu is really serious, engaging neiti and enabling them to vet NNPCL's operations is a far better scenario than CBN vetting oil sales that they know next to nothing about.

stevups:



Atiku plan is to sell the whole country and spend the money in Dubai hotels

Our youths needs to start engaging their intellect past just political grandstanding and brickbating.
None of you is interrogating Atiku's intervention beyond just abuse and name-calling.
It's a dangerous trend. This is exactly what happened under Buhari till we're now seeing that CBN has been bludgeoned to smithereens.
It is same CBN in what seems like a fraternal obsession, Tinubu is handing over NNPCL's core function to and all what Nigerian youths can glean from this is that Atiku is a thief.
If Nigerians are so concerned about stealing how did Tinubu who has been "marshaling" Lagos treasury for decades become president?

Agboriotejoye:

The point he's making is the illegality and unworkability of that directive. I actually thought it was fake news when I first saw it.
By the laws creating CBN, its job is to manage the money space of Nigeria. It is not a commodity trading establishment.
By the law creating NNPCL, it is a trading company. So it is CBN is totally not equipped to trade commodities.
Now if you say because NNPCL is corrupt, you want to hand over a critical part of their work to CBN, has CBN proven to be of better behaviour than NNPCL in the first place? Or is it not same CBN that incurred 27trn debt on behalf of Nigeria with no accountability whatsoever under Buhari? Is it not same CBN that has mismanaged or foreign reserves as well as our local currency?
How is CBN a better entity to manage crude sales than NNPCL? Does CBN have the operational competence and structure to carry the job out more effectively than NNPCL?
Atiku proposed bringing in NEITI to be an ombudsman for NNPCL upstream operations. It is a pity most of you don't know what NEITI is which is why you're all making bogus allegations that Atiku is benefitting from NNPC's corruption.
Another proposal he made is for CBN to have a representativeon NNPCL's board to vet NNPCL's books though I don't know how effective that will be.
But if Tinubu is really serious, engaging neiti and enabling them to vet NNPCL's operations is a far better scenario than CBN vetting oil sales that they know next to nothing about.

NNPC not following provision to remit proceeds to designated account is "illegality", intransparency, and unaccountability are all illegality itself.
Time and overtime Provisions are amended as deemed fit, the fact that CBN is by default the designated account for NNPC makes the directive "Feasible" if enforced

Now don't get it twisted, the fact that the directives stipulate CBN will handle sales does not mean CBN will be the one hawking crude oil or vendor

NNPC will carry on with the trading but all payment must be redirected to CBN designated account, if cbn start collecting directly what NNpc should remit nothing changes, infact the directive shortens the process & makes it more traceable, that is good news to concerned citizens.

IF you undestand CBN function you won't even ask How CBN is better to handle crude sales Oga CBN finances the economy/BUdget that is why all revenues are designated to CBN account, while NNPC role end at sales, asides mgt &operational cost related to NNPC.
Incase you still don't understand, Nigeria finances itself with crude oil proceed, CBN by provision finances the budget/FG/economy ... so how can NNPC be better where it has no jurisdiction think

The utmost auditor in the federal of Nigeria is the CBN if you can understand that then you will know no body audit better than Cbn

Just see what a living human being is saying... honestly is like this is the only thing that tunubu has done in Nigeria although only his family members will benefit from it shaa

NNPCL must never touch our money again.Let them do storekeeper work.REMOVE ALL OLD REGIME BOARD MEMBERS

theredaddy:



NNPC not following provision to remit proceeds to designated account is "illegality", intransparency, and unaccountability are all illegality itself.
Time and overtime Provisions are amended as deemed fit, the fact that CBN is by default the designated account for NNPC makes the directive "Feasible" if enforced

Now don't get it twisted, the fact that the directives stipulate CBN will handle sales does not mean CBN will be the one hawking crude oil or vendor

NNPC will carry on with the trading but all payment must be redirected to CBN designated account, if cbn start collecting directly what NNpc should remit nothing changes, infact the directive shortens the process & makes it more traceable, that is good news to concerned citizens.

IF you undestand CBN function you won't even ask How CBN is better to handle crude sales Oga CBN finances the economy/BUdget that is why all revenues are designated to CBN account, while NNPC role end at sales, asides mgt &operational cost related to NNPC.
Incase you still don't understand, Nigeria finances itself with crude oil proceed, CBN by provision finances the budget/FG/economy ... so how can NNPC be better where it has no jurisdiction think

The utmost auditor in the federal of Nigeria is the CBN if you can understand that then you will know no body audit better than Cbn

Seems you missed my first comment. You cannot cure illegality with illegality.
It is this dysfunctionality that later breeds corruption. Unfortunately, you and I will not hear about it until the heist has been completed.
You seem not to understand the difference. Was NNPC not remitting proceeds to CBN before?
What the directive implies from my understanding of it is that CBN will be directly involved in crude sales while NNPC will just be like a logistics and supplies arm. That is clearly and totally illegal. Besides, who then holds CBN responsible they do not also mismanage the funds?
Also, have you considered the effect of the new directive on NNPC's operational efficiency? NNPC will basically live off the good graces of the CBN in its operations. How does that make NNPC more efficient?
We once had something like that under Buhari. The Health Ministry was denied its own budget and was seconded to the Agric ministry to access its funds. Go and check what became of the Health ministry then!
As for your claim on CBN financing the economy, CBN finances the economy from the revenues it gets from revenue generating agencies like FIRS, NNPC, Customs etc. Is Tinubu by any luck saying only NNPC is corrupt and inefficient while the others are doing marvelously well?
So, if you support the move, maybe CBN should also collect taxes and import duties directly instead of waiting for remittance from FIRS and Customs.
So my point is CBN is not even legally and professionally equipped to handle this request. I see it as favoritism. The President's men run CBN so they are now making NNPC which is being run by Kyari a Buhari man to be an appendage of CBN. It bodes no good as far as I can see.

Agboriotejoye:

Seems you missed my first comment. You cannot cure illegality with illegality.
It is this dysfunctionality that later breeds corruption. Unfortunately, you and I will not hear about it until the heist has been completed.
You seem not to understand the difference. Was NNPC not remitting proceeds to CBN before?
What the directive implies from my understanding of it is that CBN will be directly involved in crude sales while NNPC will just be like a logistics and supplies arm. That is clearly and totally illegal. Besides, who then holds CBN responsible they do not also mismanage the funds?
Also, have you considered the effect of the new directive on NNPC's operational efficiency? NNPC will basically live off the good graces of the CBN in its operations. How does that make NNPC more efficient?
We once had something like that under Buhari. The Health Ministry was denied its own budget and was seconded to the Agric ministry to access its funds. Go and check what became of the Health ministry then!
As for your claim on CBN financing the economy, CBN finances the economy from the revenues it gets from revenue generating agencies like FIRS, NNPC, Customs etc. Is Tinubu by any luck saying only NNPC is corrupt and inefficient while the others are doing marvelously well?
So, if you support the move, maybe CBN should also collect taxes and import duties directly instead of waiting for remittance from FIRS and Customs.
So my point is CBN is not even legally and professionally equipped to handle this request. I see it as favoritism. The President's men run CBN so they are now making NNPC which is being run by Kyari a Buhari man to be an appendage of CBN. It bodes no good as far as I can see.

You not reading my words according to there meaning, there is no illegality as far as CBN is concern.

If MR A is suppose to bring money to MR B house and he keeps failing there is no illegatilty if MR B decides to be at MR A house to pick up the funds himself

These is a case of, IF Mohammed won't go to the Mountain then the mountain will come to Mohammed .. no illegality understand that 1st.

Stop using head knowledge there are frameworks in place, CBN don't have the framework to transact with client directly buh they have unlimited access to recieve sales proceed directly from crude buyers.
Make your order with NNPC and present quota at CBN and deposit .. we do these things during school registration naw
There are many times my vet will help me pick dog and sell to his client and his clients pay to me directly without seeing me, the good thing is it fosters credibility and transperency


CBN don't need to collect taxes from FIRS or Custom cos they are complying already, if a brigde is good you don't have to close it

theredaddy:



You not reading my words according to there meaning, there is no illegality as far as CBN is concern.

If MR A is suppose to bring money to MR B house and he keeps failing there is no illegatilty if MR B decides to be at MR A house to pick up the funds himself

These is a case of, IF Mohammed won't go to the Mountain then the mountain will come to Mohammed .. no illegality understand that 1st.

Stop using head knowledge there are frameworks in place, CBN don't have the framework to transact with client directly buh they have unlimited access to recieve sales proceed directly from crude buyers.
Make your order with NNPC and present quota at CBN and deposit .. we do these things during school registration naw
There are many times my vet will help me pick dog and sell to his client and his clients pay to me directly without seeing me, the good thing is it fosters credibility and transperency


CBN don't need to collect taxes from FIRS or Custom cos they are complying already, if a brigde is good you don't have to close it

There is illegality. Go and read PIA to know what is different from what. You are reducing legal matters to your own street idea of muhammad and mountain.
This is just like your school designating a certain account with a bank for payment of fees and you decide to pay into another account claiming muhammed and mountain.
And how do you know FIRS and Custom are complying? Nobody focuses on them because their remittance is in naira not dollars.

I see you are born throw away that's why you are insulting papa and mama in public

2mch:

Shey na your Papa and Mama arrest Tinubu for criminal activity?

seunmsg:


You are also not well brought up. If you are, you won’t be supporting Atiku in his show of shame. NNPN has been selling crude for years now without any accountability as to how the forex earnings are utilized and Atiku want that kind of nonsense to continue.

For once, we have a president who is trying to correct what have gone wrong for years but political elites who benefit from the corrupt arrangement will keep using folks like you to muddle up facts and confuse the rest.

What the heck is wrong with CBN getting the records of crude earrings from NNPC? Is CBN no longer Federal government’s bank? Don’t you guys think before jumping on senseless political propaganda?

I’m saying it again, go and tell Atiku to shut the fvck up.

Wa a sere! Kadoso Mutairu! I always enjoy those very few times you actually make some sense.

Agboriotejoye:

There is illegality. Go and read PIA to know what is different from what. You are reducing legal matters to your own street idea of muhammad and mountain.
This is just like your school designating a certain account with a bank for payment of fees and you decide to pay into another account claiming muhammed and mountain.
And how do you know FIRS and Custom are complying? Nobody focuses on them because their remittance is in naira not dollars.

IF there is illegality please go to court,

CBN is the Designated account for Nigeria revenue, crude oil is Nigeria revenue not NNPC revenue,

IF customs and FiR are not remitting it would have made headlines same way NNPC are always in the News for not remitting.
Stop arguing what you don't know,



https://punchng.com/customs-generate-n3-21trn-in-2023-targets-n5-08-trn-in-2024/

theredaddy:




IF there is illegality please go to court,

CBN is the Designated account for Nigeria revenue, crude oil is Nigeria revenue not NNPC revenue,

IF customs and FiR are not remitting it would have made headlines same way NNPC are always in the News for not remitting.
Stop arguing what you don't know,



https://punchng.com/customs-generate-n3-21trn-in-2023-targets-n5-08-trn-in-2024/

When was NNPCL in the news for not remitting?
Same customs that claimed smuggling didn't allow them to meet their targets which led to border closure in 2020. Even your link says they didn't meet the target.
When CBN was being mismanaged under the previous Administration, there were folks like you who mocked people with "go to court".
Today Nigeria is 27trn worse off in debts due to that mismanagement. Maybe Nigeria should go to court to clear off the debts.
It will clear from your eyes soon.

Meanwhile, this is NNPCL declaring revenue of 8.8trn in 2022 from audited account. https://www.thecable.ng/nnpc-bows-to-pressure-releases-2022-financial-statement-n8-8trn-reported-as-revenue/amp

Show me customs or fris audited account

Here is the House of Reps questioning why customs has not audited its accounts for 3 years

https://www.vanguardngr.com/2024/01/reps-query-customs-over-non-submission-of-3-years-audited-financial-statement-2/amp/

Agboriotejoye:

When was NNPCL in the news for not remitting?
Same customs that claimed smuggling didn't allow them to meet their targets which led to border closure in 2020. Even your link says they didn't meet the target.
When CBN was being mismanaged under the previous Administration, there were folks like you who mocked people with "go to court".
Today Nigeria is 27trn worse off in debts due to that mismanagement. Maybe Nigeria should go to court to clear off the debts.
It will clear from your eyes soon.

Meanwhile, this is NNPCL declaring revenue of 8.8trn in 2022 from audited account. https://www.thecable.ng/nnpc-bows-to-pressure-releases-2022-financial-statement-n8-8trn-reported-as-revenue/amp

Show me customs or fris audited account

Here is the House of Reps questioning why customs has not audited its accounts for 3 years

https://www.vanguardngr.com/2024/01/reps-query-customs-over-non-submission-of-3-years-audited-financial-statement-2/amp/

You are just defending what is indefensible , CBN was mismanaged by Emeifele the CBN governor that is why he was fired and today facing trail

NNPC lacks transparency, accountability and non-remittance that is full-blown mismanagement but Kyari still retains his post and gives all manners of excuses to INETI


here are various years NNPC was dragged into the News

https://www.vanguardngr.com/2015/08/nnpc-failed-to-remit-n2-5trn-crude-oil-sales-proceeds-nrgi-2/amp/

http://tribuneonlineng.com/rot-nnpc-corporation-failed-remit-n25trn-10-years-%E2%80%94report

Don't just argue for argument's sake, learn to argue constructively or with substances

Agboriotejoye:

Seems you missed my first comment. You cannot cure illegality with illegality.
It is this dysfunctionality that later breeds corruption. Unfortunately, you and I will not hear about it until the heist has been completed.
You seem not to understand the difference. Was NNPC not remitting proceeds to CBN before?
What the directive implies from my understanding of it is that CBN will be directly involved in crude sales while NNPC will just be like a logistics and supplies arm. That is clearly and totally illegal. Besides, who then holds CBN responsible they do not also mismanage the funds?
Also, have you considered the effect of the new directive on NNPC's operational efficiency? NNPC will basically live off the good graces of the CBN in its operations. How does that make NNPC more efficient?
We once had something like that under Buhari. The Health Ministry was denied its own budget and was seconded to the Agric ministry to access its funds. Go and check what became of the Health ministry then!
As for your claim on CBN financing the economy, CBN finances the economy from the revenues it gets from revenue generating agencies like FIRS, NNPC, Customs etc. Is Tinubu by any luck saying only NNPC is corrupt and inefficient while the others are doing marvelously well?
So, if you support the move, maybe CBN should also collect taxes and import duties directly instead of waiting for remittance from FIRS and Customs.
So my point is CBN is not even legally and professionally equipped to handle this request. I see it as favoritism. The President's men run CBN so they are now making NNPC which is being run by Kyari a Buhari man to be an appendage of CBN. It bodes no good as far as I can see.

https://punchng.com/sanusi-carpets-nnpcl-doubts-dollar-remittance-after-subsidy-removal/

Get yourself properly educated on why this directive was necessary instead of going about spewing nonsense. Btw, the directive is simply in line with the TSA policy. CBN is Federal government's bank. Every MDA and government owned companies remit their revenues to CBN. So, why should NNPC be different? All other Federal government agencies that remit both their Naira and Dollar earnings to CBN, are they logistics and supplies arm of CBN? What the fvck is wrong with NNPC remitting their dollar earnings to CBN for proper accountability? Is CBN not a bank again? Why do you hateful guys always try to find fault in everything?

seunmsg:



https://punchng.com/sanusi-carpets-nnpcl-doubts-dollar-remittance-after-subsidy-removal/

Get yourself properly educated on why this directive was necessary instead of going about spewing nonsense. Btw, the directive is simply in line with the TSA policy. CBN is Federal government's bank. Every MDA and government owned companies remit their revenues to CBN. So, why should NNPC be different? All other Federal government agencies that remit both their Naira and Dollar earnings to CBN, are they logistics and supplies arm of CBN? What the fvck is wrong with NNPC remitting their dollar earnings to CBN for proper accountability? Is CBN not a bank again? Why do you hateful guys always try to find fault in everything?

Like.

theredaddy:



You are just defending what is indefensible , CBN was mismanaged by Emeifele the CBN governor that is why he was fired and today facing trail

NNPC lacks transparency, accountability and non-remittance that is full-blown mismanagement but Kyari still retains his post and gives all manners of excuses to INETI


here are various years NNPC was dragged into the News

https://www.vanguardngr.com/2015/08/nnpc-failed-to-remit-n2-5trn-crude-oil-sales-proceeds-nrgi-2/amp/

http://tribuneonlineng.com/rot-nnpc-corporation-failed-remit-n25trn-10-years-%E2%80%94report

Don't just argue for argument's sake, learn to argue constructively or with substances

Whose responsibility is it that Kyari retains his post? If Kyari is found to be irresponsible with managing NNPCL he should by all means be sacked and probed.
The links you provided is a report not from CBN but an advocacy group.

It is you who is arguing for argument sake of you fail to see the merit of Atiku's position. He's not saying NNPCL should not be made more transparent but that making it an appendage of CBN won't remove the opacity or corruption. It will just change the gear.

Agboriotejoye:

Whose responsibility is it that Kyari retains his post? If Kyari is found to be irresponsible with managing NNPCL he should by all means be sacked and probed.
The links you provided is a report not from CBN but an advocacy group.

It is you who is arguing for argument sake of you fail to see the merit of Atiku's position. He's not saying NNPCL should not be made more transparent but that making it an appendage of CBN won't remove the opacity or corruption. It will just change the gear.

Kyari still remains in position cos audit has not being carried out on NNPC until then, if you don't know North sees NNPC as there property, Atiku knows what he is doing just as Tinubu knows what he is playing at

Why will i post a link from CBN, is CBN a media house or reporter, Is the news true or not think naw or

Go online and google, only gave you samples to buttress my point, all you do is argue nothing to show,
NNPC is one of the most corrupt corporation in Nigeria, trimming their wings will bring them down below the clouds level, what flies under sky can be seen and traced. appendage or not you shouldnt be in pain

seunmsg:



https://punchng.com/sanusi-carpets-nnpcl-doubts-dollar-remittance-after-subsidy-removal/

Get yourself properly educated on why this directive was necessary instead of going about spewing nonsense. Btw, the directive is simply in line with the TSA policy. CBN is Federal government's bank. Every MDA and government owned companies remit their revenues to CBN. So, why should NNPC be different? All other Federal government agencies that remit both their Naira and Dollar earnings to CBN, are they logistics and supplies arm of CBN? What the fvck is wrong with NNPC remitting their dollar earnings to CBN for proper accountability? Is CBN not a bank again? Why do you hateful guys always try to find fault in everything?

1. I always find you an hypocrite in govt policy matters. You suddenly find something wrong with NNPC not remitting to TSA as if you were on another planet when Buhari exempted them from TSA in 2015. It is this posturing of you APC apologists that has brought the country to this sorry pass. Everything was wrong when Jonathan was in govt. Everything was right while Buhari was in office until he left office then everything became wrong again. You guys are bereft of the least modicum of patriotism.
2. Who told you NNPC does not remit its revenue to CBN? Is that the bone of contention here or how NNPC generates revenue and how it manages the revenue it generates?
If you don't understand a thing at least try to get the proper perspective. What Tinubu is inadvertently doing is handing over the financial controls of NNPC over to CBN. Do other MDAs have their financial books vetted by CBN? Do other MDAs have their core functions supervised by CBN?
3. A bank is not a regulatory body for its depositors. If more transparency and control is required at NNPC, CBN can't be the body to provide that. They don't have the expertise nor the legal backing. There's an AGF office. There's AuGF and there's the NEITI who can provide such requirements and monitoring better.
4. More importantly, NNPCL by virtue of PIA is supposed to be run as a commercial corporate body and not an MDA. That's why it should have no business with TSA because TSA is for govt departments which it ceased to be operationally by virtue of PIA. Don't just run here to defend what is not.
BTW have you got your salary and wage award which you're entitled to?

Omooba77:


Posted By Formeer Vice President Atiku Abubakar on X (Formerly called twitter)

Ops are you sure Atiku said all this ?
Because nothing was said

theredaddy:



Kyari still remains in position cos audit has not being carried out on NNPC until then, if you don't know North sees NNPC as there property, Atiku knows what he is doing just as Tinubu knows what he is playing at

Why will i post a link from CBN, is CBN a media house or reporter, Is the news true or not think naw or

Go online and google, only gave you samples to buttress my point, all you do is argue nothing to show,
NNPC is one of the most corrupt corporation in Nigeria, trimming their wings will bring them down below the clouds level, what flies under sky can be seen and traced. appendage or not you shouldnt be in pain

Audit has not been carried out in NNPC? Are you kidding or joking? NNPC is even more audit compliant than CBN!!
It's obvious you don't know what you're talking about.
When did you and North sit down and they told you NNPC is their property? You guys just bring meaningless things into serious national issues.
The man who first complained about NNPC remittances is a northerner. Yet you're blaming North for NNPC opacity as if it only happens under northerners.
You can't use corruption to fight corruption. CBN is even more corrupt than NNPC with recent events.

Agboriotejoye:

Audit has not been carried out in NNPC? Are you kidding or joking? NNPC is even more audit compliant than CBN!!
It's obvious you don't know what you're talking about.
When did you and North sit down and they told you NNPC is their property? You guys just bring meaningless things into serious national issues.
The man who first complained about NNPC remittances is a northerner. Yet you're blaming North for NNPC opacity as if it only happens under northerners.
You can't use corruption to fight corruption. CBN is even more corrupt than NNPC with recent events.

Audited by who ?? mention or provide the link the indicated they were auditor by external auditor

So what was NEITI outcry all about, do you even know what NEITIS stands for, at these point if you can support your arguement with facts or report, these conversation is over rather waste my time teaching dogs A for apple


https://www.thecable.ng/no-public-funds-withheld-nnpc-refutes-neitis-report-on-non-remittance-of-2bn/amp

theredaddy:



Audited by who ?? mention or provide the link the indicated they were auditor by external auditor

So what was NEITI outcry all about, do you even know what NEITIS stands for, at these point if you can support your arguement with facts or report, these conversation is over rather waste my time teaching dogs A for apple


https://www.thecable.ng/no-public-funds-withheld-nnpc-refutes-neitis-report-on-non-remittance-of-2bn/amp

First, I don't like it when people drop links without bothering to even read them. The first screenshot is from your link showing NNPCL's explanationof the unremitted $2bn as subsidy payments.
The second screenshot shows news report of nnpc releasing the audited statements for 2021 and 2022.
The third one is when CBN released its audit report after 7 years of not releasing ANY report

Agboriotejoye:

First, I don't like it when people drop links without bothering to even read them. The first screenshot is from your link showing NNPCL's explanationof the unremitted $2bn as subsidy payments.
The second screenshot shows news report of nnpc releasing the audited statements for 2021 and 2022.
The third one is when CBN released its audit report after 7 years of not releasing ANY report

Asides filmsy excuses kyari was giving, was there anywhere in any of the links that depicts remittance was Paid

With all the allegations are we suppose to trust NNPC internal audit or external auditor report,

Was remittance paid Yes or No

This old glutton and his desperation will never let me take him serious

theredaddy:


Asides filmsy excuses kyari was giving, was there anywhere in any of the links that depicts remittance was Paid

With all the allegations are we suppose to trust NNPC internal audit or external auditor report,

Was remittance paid Yes or No

Did you even read the links? 8.8trn remittance was paid!!
Whether it's internal or external audit (and it's external cause it was done in conjunction with NEITI), the important thing is NNPC is far better than CBN in that regard.
The point I've made to you is clear but it seems you're hung on defending govt no matter the cost.
It is illegal to make NNPC an appendage of CBN. Both are autonomous agencies by their laws.
Secondly, it is not operationally smart to allow CBN vet a core activity of NNPC. They don't have the wherewithal to do that.
You don't like where the objection is coming from which is Atiku. But you can't deny he's right.
You say you want investors yet you want to run NNPC like a jankara filling station.
How will investors view that?
CBN is not better than NNPC. That's a fact. The only reason I can see for Tinubu agreeing to this is because his boys basically run CBN now.

Agboriotejoye:

Did you even read the links? 8.8trn remittance was paid!!
Whether it's internal or external audit (and it's external cause it was done in conjunction with NEITI), the important thing is NNPC is far better than CBN in that regard.
The point I've made to you is clear but it seems you're hung on defending govt no matter the cost.
It is illegal to make NNPC an appendage of CBN. Both are autonomous agencies by their laws.
Secondly, it is not operationally smart to allow CBN vet a core activity of NNPC. They don't have the wherewithal to do that.
You don't like where the objection is coming from which is Atiku. But you can't deny he's right.
You say you want investors yet you want to run NNPC like a jankara filling station.
How will investors view that?
CBN is not better than NNPC. That's a fact. The only reason I can see for Tinubu agreeing to this is because his boys basically run CBN now.

One thing i found funny is how you keep asking did i read the link, trying to be clever by half won't werk, the are the link i posted


https://www.vanguardngr.com/2015/08/nnpc-failed-to-remit-n2-5trn-crude-oil-sales-proceeds-nrgi-2/amp/
1. The NRGI, in a report entitled: “Inside NNPC Oil Sales: A Case for Reform in Nigeria,” said its research found no evidence that NNPC forwarded to the treasury any revenues from sales of Okono crude between 2005 and 2014, volumes which totaled over 100 million barrels with an estimated value of $12.3 billion.[/color]

https://www.thecable.ng/no-public-funds-withheld-nnpc-refutes-neitis-report-on-non-remittance-of-2bn/amp

2. Also, Kyari said NNPC would have published its audited financial (AFS) for 2022 since June 2023 but could not do so because it had no substantive board of directors at that time.
[color=#990000]

You only chose to see what you wanted to "SEE" kyari said, and you are even blind to the fact that till day all "Kyari said" have not being proven or verified

conventional approaches are predictable and can be easily ambushed, can't you see our environment is not enabling, besides Atiku recommendation resonated "inside the box"


There comes a time we have to be realistic with ourselves, conventional theories and processes are resulting in economic blunders in Nigeria, if Nigeria is resistance to conventional approach then it is time we try Unconventional approaches, the military regime managed our economic better compared to civilian era .. how did that happen.

ATIKU JUST TALKED NONSENSE.

theredaddy:



One thing i found funny is how you keep asking did i read the link, trying to be clever by half won't werk, the are the link i posted


https://www.vanguardngr.com/2015/08/nnpc-failed-to-remit-n2-5trn-crude-oil-sales-proceeds-nrgi-2/amp/
1. The NRGI, in a report entitled: “Inside NNPC Oil Sales: A Case for Reform in Nigeria,” said its research found no evidence that NNPC forwarded to the treasury any revenues from sales of Okono crude between 2005 and 2014, volumes which totaled over 100 million barrels with an estimated value of $12.3 billion.[/color]

https://www.thecable.ng/no-public-funds-withheld-nnpc-refutes-neitis-report-on-non-remittance-of-2bn/amp

2. Also, Kyari said NNPC would have published its audited financial (AFS) for 2022 since June 2023 but could not do so because it had no substantive board of directors at that time.
[color=#990000]

You only chose to see what you wanted to "SEE" kyari said, and you are even blind to the fact that till day all "Kyari said" have not being proven or verified

conventional approaches are predictable and can be easily ambushed, can't you see our environment is not enabling, besides Atiku recommendation resonated "inside the box"


There comes a time we have to be realistic with ourselves, conventional theories and processes are resulting in economic blunders in Nigeria, if Nigeria is resistance to conventional approach then it is time we try Unconventional approaches, the military regime managed our economic better compared to civilian era .. how did that happen.

I don't know what you mean by unconventional approach when the approach is clearly illegal.

1. Note that NRGI is an NGO. While I'm not saying they are lying, it's very possible that given the opaque nature of NNPCL, they didn’t have the full details but report based on what's available to them.

Note that the story is actually a 2015 story that covered from 2005-2014 so using that to justify whatever unconventional approach in 2024 just does not fit. But let me call your attention to two things.

Some of these makeshift practices began with credible goals. But over time, their operation became overly discretionary and complex, as political and patronage agendas surpassed the importance of maximizing returns.

This quote from your link, does it not sound exactly like what you're defending?

Your unconventional approach with no guiding principle or legislation but just based on a whim has the capacity to become arbitrary and convoluted over time. This is directly from your link!

Secondly, same NRGI in 2021 scored NNPCL very high in corporate governance and highlighted the improvement in commodity sales disclosure.

https://resourcegovernance.org/publications/2021-resource-governance-index-nigeria-oil-and-gas

So since the time the report you posted was published, NNPC has improved its transparency according to same NRGI. Can same be said of CBN who refused to release an audited report for 7 years?!!

2. What did Kyari say that has not been verified? Was there an NNPC board in place as at 2023 before Buhari handed over?

Note that you're making me defend NNPCL which is not my intention. My intention is to show you that knee-jerk and whimsical decisions will not enhance transparency but policy formulation and legislation that will enhance best practices. Moreover when CBN has never shown to be of better behaviour than NNPCL and does not even have the operation expertise to vet NNPC. That's primarily what Atiku is calling attention to which you all ignore due to political bias. If you want to make NNPCL more transparent, it is welcomed but it should be done rightly not in a manner that will leave room for more abuses.

I noticed you've basically shied away from those two points and instead majoring on NNPCL's weaknesses which is not even the topic here

Agboriotejoye:

I don't know what you mean by unconventional approach when the approach is clearly illegal.

1. Note that NRGI is an NGO. While I'm not saying they are lying, it's very possible that given the opaque nature of NNPCL, they didn’t have the full details but report based on what's available to them.

Note that the story is actually a 2015 story that covered from 2005-2014 so using that to justify whatever unconventional approach in 2024 just does not fit. But let me call your attention to two things.

This quote from your link, does it not sound exactly like what you're defending?

Your unconventional approach with no guiding principle or legislation but just based on a whim has the capacity to become arbitrary and convoluted over time. This is directly from your link!

Secondly, same NRGI in 2021 scored NNPCL very high in corporate governance and highlighted the improvement in commodity sales disclosure.

https://resourcegovernance.org/publications/2021-resource-governance-index-nigeria-oil-and-gas

So since the time the report you posted was published, NNPC has improved its transparency according to same NRGI. Can same be said of CBN who refused to release an audited report for 7 years?!!

2. What did Kyari say that has not been verified? Was there an NNPC board in place as at 2023 before Buhari handed over?

Note that you're making me defend NNPCL which is not my intention. My intention is to show you that knee-jerk and whimsical decisions will not enhance transparency but policy formulation and legislation that will enhance best practices. Moreover when CBN has never shown to be of better behaviour than NNPCL and does not even have the operation expertise to vet NNPC. That's primarily what Atiku is calling attention to which you all ignore due to political bias. If you want to make NNPCL more transparent, it is welcomed but it should be done rightly not in a manner that will leave room for more abuses.

I noticed you've basically shied away from those two points and instead majoring on NNPCL's weaknesses which is not even the topic here

For someone trying to be clever by half, you won't know what "Unconventional method" means, if police take one way to block kidnappers and arrest them, i guess you will be in court shouting illegality,
The report clearly says NGRI is an int'l watchdog governance institute, besides what wrong being an NGO

In your desperation to be clever by half you jumped the main context in which the statement was made; these ones nko

governments have made no effort to undertake a reform of the corporation.

It said: “We find that management of NNPC’s oil sales has worsened in recent years —and particularly since 2010. The largest problems stem from the rising number of ad-hoc, makeshift practices the corporation

so what implied Unconventional approach was adopted, and can you give one instance that became arbitrary and convoluted over time. time for facts

What you don't know you don't know, unconventional approach is relative to "thinking outside the box" and should be temporary measures to way for reforms, where conventional failed

We can't keep doing things the same way and be expecting different result, world bank, IMF & even jefferson theories have all failed Nigeria becos of whom we are,
Since you were born have you seen forces of demand & supply regulating Naija market, did economic textbook lied

the military managed our economy better, WHY ??

theredaddy:



For someone trying to be clever by half, you won't know what "Unconventional method" means, if police take one way to block kidnappers and arrest them, i guess you will be in court shouting illegality,
The report clearly says NGRI is an int'l watchdog governance institute, besides what wrong being an NGO

In your desperation to be clever by half you jumped the main context in which the statement was made; these ones nko

governments have made no effort to undertake a reform of the corporation.

It said: “We find that management of NNPC’s oil sales has worsened in recent years —and particularly since 2010. The largest problems stem from the rising number of ad-hoc, makeshift practices the corporation

so what implied Unconventional approach was adopted, and can you give one instance that became arbitrary and convoluted over time. time for facts

What you don't know you don't know, unconventional approach is relative to "thinking outside the box" and should be temporary measures to way for reforms, where conventional failed

We can't keep doing things the same way and be expecting different result, world bank, IMF & even jefferson theories have all failed Nigeria becos of whom we are,
Since you were born have you seen forces of demand & supply regulating Naija market, did economic textbook lied

the military managed our economy better, WHY ??

1. Police driving against traffic is allowed under the operational procedure if the situation warrants.

2. Did I say anything is wrong with being an NGO? Always learn to read and understand.

3. You still fail to realise that the report you're harping on was released in 2015 for the PERIOD between 2005-2014. Another report was released in 2021 which I've pointed you to. Why do you keep on hanging on a 2015 report in 2024 and still accuse me of being "clever by half"?

3. Unconventional approach =ad-hoc, makeshift practices. Any approach not grounded in sound, public policy or legislation in line with corporate best practices and international standards fit that definition. Even thinking outside the box should not be in the basis of illegality. You're deliberately overlooking the illegality and impracticability of the directive. Even you can't say with any confidence that the move will achieve desired result. You only want it tried out. Go and check what's been the case with NNPC and directives that have little or no legal backing. Same thing happened with CBN that resulted in 27trn debt on the nation!! Why are you selectively blind to these things? Because it's Atiku abi

How did the military manage our economy better?

Agboriotejoye:

1. Police driving against traffic is allowed under the operational procedure if the situation warrants.

2. Did I say anything is wrong with being an NGO? Always learn to read and understand.

3. You still fail to realise that the report you're harping on was released in 2015 for the PERIOD between 2005-2014. Another report was released in 2021 which I've pointed you to. Why do you keep on hanging on a 2015 report in 2024 and still accuse me of being "clever by half"?

3. Unconventional approach =ad-hoc, makeshift practices. Any approach not grounded in sound, public policy or legislation in line with corporate best practices and international standards fit that definition. Even thinking outside the box should not be in the basis of illegality. You're deliberately overlooking the illegality and impracticability of the directive. Even you can't say with any confidence that the move will achieve desired result. You only want it tried out. Go and check what's been the case with NNPC and directives that have little or no legal backing. Same thing happened with CBN that resulted in 27trn debt on the nation!! Why are you selectively blind to these things? Because it's Atiku abi

How did the military manage our economy better?

1. Police driving against traffic is allowed, but a sitting Authority adopting unconventional approach is an "Illegality" ... so Nigeria present situation never warrant drastic approach ...

2. So what was the point of you emphasizing its an NGO

3. Go online there recent accusations & report indicting NNPC of non remittance, only me no fit dey bring evidence

4. How can an executive order carried out with public Knowledge be an illegality, Executive order is meant to over ride statuo and CBN is acting with the confines of delegated authority. what is impracticable about a Designated bank collecting deposit directly on behalf of NNPC, which is virtually meant to Remit to the same Bank.

You are always Ignorant when you hit the wall, i won't spoonfeed with links but here are facts

a. During military rule inflation rate didnt exceed single digit and it was as low as 6.62, till civilian rule began

b. All the four refineries has two were built under military regime and its on record thy function

c. Majority of the basic infrastructure in Nigeria were built by the military a record civillian dispensation are yet to surpass

D. From 1972 - 84 dollar was kept kept below #1 and in 1999 military left btwn #90 .. within 2000 till 2024 we rocketed from 100 - #1400+

E. the rate at which foreign companies were trooping into Nigeria in the 80's/90's is it comparable with to the score under civilian govt. go n verify

And you are here asking me how did the military managed our economy better, discredit me with evidence and i will drop evidences

theredaddy:




1. Police driving against traffic is allowed, but a sitting Authority adopting unconventional approach is an "Illegality" ... so Nigeria present situation never warrant drastic approach ...

2. So what was the point of you emphasizing its an NGO

3. Go online there recent accusations & report indicting NNPC of non remittance, only me no fit dey bring evidence

4. How can an executive order carried out with public Knowledge be an illegality, Executive order is meant to over ride statuo and CBN is acting with the confines of delegated authority. what is impracticable about a Designated bank collecting deposit directly on behalf of NNPC, which is virtually meant to Remit to the same Bank.

You are always Ignorant when you hit the wall, i won't spoonfeed with links but here are facts

a. During military rule inflation rate didnt exceed single digit and it was as low as 6.62, till civilian rule began

b. All the four refineries has two were built under military regime and its on record thy function

c. Majority of the basic infrastructure in Nigeria were built by the military a record civillian dispensation are yet to surpass

D. From 1972 - 84 dollar was kept kept below #1 and in 1999 military left btwn #90 .. within 2000 till 2024 we rocketed from 100 - #1400+

E. the rate at which foreign companies were trooping into Nigeria in the 80's/90's is it comparable with to the score under civilian govt. go n verify

And you are here asking me how did the military managed our economy better, discredit me with evidence and i will drop evidences

1. I don't know why you like making offpoints. I clearly informed you that blocking the road or taking one way is part of police SoP. That's why the police can block the road against ordinary citizens when the president wants to pass and you have to give way when they're siren is blaring. It's called right of way.

2. I don't like repeating myself. I told you they may not have all the details as NNPC is not duty bound to share any info with them as an NGO.

3. For every accusation against NNPC, CBN has fared worse especially in recent times. A pointer to this is that the former CBN gov is presently facing trial while the NNPC boss retained his seat under same Tinubu. And this flies directly in the face of your claim that northerners feel entitled.

4. An executive order cannot override a legislation of the national assembly. The points you're bringing up are ridiculous. The CBN Act and PIA do not allow for the presidential directive you're defending.

As usual, you jumped from 1984 straight up to 1999. Did military rule end in 1984? From 1983to 1999 was the longest unbroken military rule we had bar 3 months and Nigeria was the worst for it. I can agree with you on some indices but to make it look like military were saints is pure hogwash. The military institutionalized corruption in our public offices for a start and that's Nigeria's biggest problem till today.