The Nigerian National Petroleum Corporation (NNPC) has denied Muhammadu Buhari’s allegation that the corporation keeps two accounts and asked the former head of state to confirm rumours that $2.8bn was missing when he was minister of petroleum in 1977. Buhari, in his acceptance speech after being nominated the presidential candidate of the All Progressives Congress (APC) on Thursday, had said the NNPC maintains two different accounts ─ the one for the public and the other for insiders. In a statement issued on Friday by Ohi Alegbe, NNPC’s group general manager for group public affairs, the corporation accused Buhari of peddling false information. He said: “It is sad that General Buhari, one of the founding fathers of the NNPC who himself has tasted of the virulent but false allegations deliberately concocted to cast the Corporation and the public sector management of the nation’s oil and gas industry in bad light, would be the one to allege that NNPC runs two sets of account books ‘one for public consumption and another for insiders’. “We consider General Buhari’s allegation in bad taste as it is nothing but a deliberate political mischief calculated to cast the Corporation in opprobrium all in a bid to shore up his political capital. “We find it difficult to understand how a former Head of State who has also served as Minister of Petroleum Resources could believe that NNPC keeps two sets of account books to perpetrate fraud, knowing that NNPC is the most audited and scrutinized agency in the country. “In the past one year alone, the Corporation has had its books scrutinized and audited by the Senate Committee on Finance and an external auditor, PriceWaterhouseCooper (PWC). Is it possible for the accounting discrepancies insinuated by General Buhari to escape the attention of such internationally acclaimed auditors? And in any case, why would an alleged fraudulent Corporation keep two sets of accounting books knowing that such could be used as evidence against it? “We hereby state emphatically that NNPC neither keeps two sets of account books nor is aware of the existence of such as the Corporation is run in line with international best practice.”

In 1977, the military head of state, Lt. Gen. Olusegun Obasanjo, set up a crude oil sales tribunal to investigate the operations of the Nigerian National Oil Company (NNOC, which metamorphosed into NNPC same year). The tribunal found out that in three years, NNOC had failed to collect its equity share of oil produced by Shell, Mobil and Gulf. As a joint venture partner, NNOC was entitled to 182.95 million barrels of oil production. But NNOC did not find buyers for its own share, thereby losing a potential income of $2.8 billion. But it was instead reported by the media that $2.8 billion was missing.

Read more at: http://www.thecable.ng/nnpc-asks-buhari-2-8bn-oil-money-truly-missing-petroleum-minister | TheCable

Na everybody dey act like saint nowadays ,well sha stealing is not corruption and lying is not a crime 'so far you're in the side of the president.

Lies mr NNPC MD. If NNPC is being audited now it is because the public is scrutinizing its finances

A whole multi billion $ and global oil co and a major government parastatal is running around peddling rumors while still unable to explain to Nigerians what happened to their $10 billion... Talk about a grossly corrupt, inept and incompetent government agency.

This country is truly in the dumps...

Remind how much was it that the NNPC can't account for again.

Tell me one thing that the price has come down for the benefit of the masses since I campaigned for Jonasad in 2011

I regretted for real

2.8 billion naira in 1977......those days when a new Peugeot 504 went for less three thousand naira...

Sunnybobo3:

In 1977, the military head of state, Lt. Gen. Olusegun Obasanjo, set up a crude oil sales tribunal to investigate the operations of the Nigerian National Oil Company (NNOC, which metamorphosed into NNPC same year). The tribunal found out that in three years, NNOC had failed to collect its equity share of oil produced by Shell, Mobil and Gulf. As a joint venture partner, NNOC was entitled to 182.95 million barrels of oil production. But NNOC did not find buyers for its own share, thereby losing a potential income of $2.8 billion. But it was instead reported by the media that $2.8 billion was missing.

Read more at: http://www.thecable.ng/nnpc-asks-buhari-2-8bn-oil-money-truly-missing-petroleum-minister | TheCable

so this story about buhari and $2.8billion is true!

3 refineries built when GMB was petroleum minister under OBJ. U can't bring dis man down it's too late. Sorry

Gej you have failed!!!!!! It will not work......... I see no difference between GEJ and ABACHA...... ABACHA's own is better because he did it with military power what about GEJ that did it under democracy? ........ Nigerians this is the time to shine your eyes..... GEJ you bribed our pastors in the NORTH to tell us not to vote for Buhari because he wants to islamize 9ja, now tell me is he not the person using religion to campaign. Now BH is killing us and Muslims in the North just because we have decided not to vote for you again and still claim its Buhari. Why will Buhari kill people that will Vote for him 100%? That means he wants to reduce his Vote. JONA our eyes are open wide and clear, is it not a Northerner that gave your people Amnesty? Or have you forgotten? WE THE CHRISTIANS IN THE NORTH wiLL support BUHARI...... More than 30,000 people has been killed in the north within 4months and you decide to hide it from the whole world for your stupid campaign!!!!!!!! #KICKTHISEVILCREATUREBACKTOOTUOKE!!!!!!

Lie

PDP

Lol....
Buhari is the most deceptive terrorist alive.
The funds were traced to his west midlands bank account.

Today Buhari is best buddies to the most corrupt nigerians alive in the person of Atiku and Tinubu. Same Buhari has maintained that Abacha was never corrupt.

The next empty head that will tell me Buhari is not corrupt shall be shot..... resuscitated... and shot again

What?

wazobiaforu:
Tell me one thing that the price has come down for the benefit of the masses since I campaigned for Jonasad in 2011

I regretted for real

I also slept with celine dion yesterday

Why be say una wan dey bring dis man down few months b4 election, we knw say na d tin wey all of una dey do, e no ft comout for una blood, but na dis Mr GEJ(no Shoes) corrupt pass right frm Independence, Mr "stealing is not corruption"

PDP things, una try sha but it's too late. #teamGMB

Lol

Account owned by insiders? I am very sure that's where our $20billion dollars was kept before it was squandered.

God bless Buhari for revealing the truth.

What's wrong with these people sef. What kind of devilish headline is this.

There was nowhere in the story where it said buhari stole N2.8bn like the headline portrays.

What the NNPC is simply saying is that even during buhari's regime, baseless allegations were made regarding the operations of the corporation.

It is saying that though the monies were not collected as required by law, probably out of oversight, some people still insinuated that the money was missing.

Why are you people making a mountain out of a molehill. We are not all dumb na.

dats great.
And someone go tell me he is not the right person we need in Nigeria.
I think d only reason y people hated him is because of his zero tolerance to corruption.
I wish I can vote 59 times for him on election day.
He is a saviour to our dying Nigeria.
Buhari for president.
Jonathan to otueke

jokers....wey 20billion dollars?

money wai the useless man don use buy cows

some people are getting really scared


Let the mudslinging continue



But one thing is sure...


The majority of Nigerians will vote Jonathan into otueke, come 2015 Valentine's day.


GMB WITHOUT REMORSE!!!

APC MUST GO JUST LIKE GHANA MUST GO.
Space for Sale,
N18000 if ur instrested contact me.
Beware of 419!

phucktards.... u'd have to try harder to discourage us from voting gmb

what of our #20billion ? And d fuel subsidy money ? Av dey all been accounted for?

only in Nigeria

ftp tins
Too late to nail him for d missin money
NNPC stop sheb

BULL SHIIT.