Copy of Forensic Audit Report Into Allegations Of Unremmited Fund..P-Times - Politics - Nairaland
Nairaland Forum / Nairaland / General / Politics / Copy of Forensic Audit Report Into Allegations Of Unremmited Fund..P-Times (2419 Views)
FG Hires 18 Firms For Forensic Audit Of Mdas / Jonathan Orders Immediate Release Of Report Of Forensic Audit Of NNPC / PWC Submits Forensic Audit Report Of Finances Of The NNPC To Jonathan. (Photo) (2) (3) (4)
| Copy of Forensic Audit Report Into Allegations Of Unremmited Fund..P-Times by bettercreature(m): 7:47pm On Apr 27, 2015 |
I WILL TAKE THE SCREEN SHOT ONE BY ONE You guys can download it here, http://www.premiumtimesng.com/docs_download/Full%20report--20billion%20dollars%20missing%20oil%20money.pdf its over 50 pages so its not easy to upload it here
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| Re: Copy of Forensic Audit Report Into Allegations Of Unremmited Fund..P-Times by braine(m): 7:49pm On Apr 27, 2015 |
The fear of Buhari |
| Re: Copy of Forensic Audit Report Into Allegations Of Unremmited Fund..P-Times by Nobody: 7:49pm On Apr 27, 2015 |
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| Re: Copy of Forensic Audit Report Into Allegations Of Unremmited Fund..P-Times by bettercreature(m): 7:54pm On Apr 27, 2015 |
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| Re: Copy of Forensic Audit Report Into Allegations Of Unremmited Fund..P-Times by baby124: 7:57pm On Apr 27, 2015 |
Booking spot. Where is my magnifying glass |
| Re: Copy of Forensic Audit Report Into Allegations Of Unremmited Fund..P-Times by seunmsg(m): 7:58pm On Apr 27, 2015 |
Just downloaded the full report. Will study and analyse it carefully. |
| Re: Copy of Forensic Audit Report Into Allegations Of Unremmited Fund..P-Times by baby124: 7:58pm On Apr 27, 2015 |
crude oil and product losses  Third party financing no get name? |
| Re: Copy of Forensic Audit Report Into Allegations Of Unremmited Fund..P-Times by ozoigbondu: 8:07pm On Apr 27, 2015 |
op you will screensshot 199 pages  you get time  |
| Re: Copy of Forensic Audit Report Into Allegations Of Unremmited Fund..P-Times by bettercreature(m): 8:10pm On Apr 27, 2015 |
ozoigbondu:Am trying to convert it to jpg |
| Re: Copy of Forensic Audit Report Into Allegations Of Unremmited Fund..P-Times by Nobody: 8:11pm On Apr 27, 2015 |
baby124: Illiterate question! |
| Re: Copy of Forensic Audit Report Into Allegations Of Unremmited Fund..P-Times by LRNZH(m): 8:15pm On Apr 27, 2015 |
[b]NNPC's business model is unsustainable....... This is why GEJ and his cronies have been hiding this report. God Bless HRH Emir Sanusi for blowing this whistle. The issue is even worse than just $20Billion missing. "A major consideration centers on the ownership of oil and gas assets controlled by NPDC. Subject to additional information being provided, we estimate that the NNPC and NPDC should refund to the Federation Account a minimum of $1.48billion as summarised in the next page." "We did not have access to NPDC's full accounts and records and we have not ascertained the amount of costs and expenses which should be applied to the US$5.11billion Crude Oil revenue (net of royalties and PPT paid) per the NPDC submission to the Senate Committee which should be considered as dividend payment by NPDC to NNPC for ultimate remittance to the Federation Account". "Between 12 January and 29 January 2015, NNPC provided transaction documents representing additional costs of $2.81 billion related to the review period, citing the NNPC Act LFN No 33 of 1977 that allows such deductions. Clarity is required on whether such deductions should be made by NNPC as a first line charge, before remitting the net proceeds of domestic crude to the federation accounts. If these are deemed not to be valid deductions, then the amount due from NNPC would be estimated at $2.07 billion (without considering expected known remittances from NPDC) or $4.29 billion (if expected known remittances from NPDC are considered)." "We also recommend that the NNPC act be reviewed as the content contradicts the requirement for NNPC to be run as a commercially viable entity. It appears the act has given the Corporation a "Blank" cheque to spend money without limit or control. This is untenable and unsustainable and must be addressed immediately. The Corporation should be required to create value, and meet its expenses entirely from the value created. Proceeds from the FGN’s crude oil sales should be remitted entirely to the Federation accounts. Commisions for the Corporation services can then be paid based on agreed terms." "For the period reviewed, we identified possible errors in the computation of crude oil prices at the NNPC that resulted in a $3.6 million shortfall in incomes to the Federation account. The major beneficiaries were Fujairah Refinery - $805,545, NNPC (KRPC/WRPC) – $697,995 and NNPC (COMD) - $2,107,275. Subsequent to our identification of this issue, NNPC has amended the errors, and have reflected the amendments in the remittances to FAAC in October 2014." "The accounting and reconciliation system for crude oil revenues used by Government agencies appear to be inaccurate and weak. We noted significant discrepancies in data from different sources. The lack of independent audit and reconciliation led to over reliance on data produced from NNPC. This matter is further compounded by the lack of independence within NNPC as the business has conflicting interests of being a stand-alone self-funding entity and also the main source of revenue to the Federation account."[/b] 2 Likes |
| Re: Copy of Forensic Audit Report Into Allegations Of Unremmited Fund..P-Times by ozoigbondu: 8:15pm On Apr 27, 2015 |
bettercreature: Goosluck |
| Re: Copy of Forensic Audit Report Into Allegations Of Unremmited Fund..P-Times by Alphaoscar: 8:20pm On Apr 27, 2015 |
report of scam |
| Re: Copy of Forensic Audit Report Into Allegations Of Unremmited Fund..P-Times by atlwireles: 8:24pm On Apr 27, 2015 |
4.1.6.2. NNPC business model The current NNPC business model in relation to the usage of the domestic crude is inadequate as can be seen from the foregoing. The business model that informed the creation of NNPC is a subsidy minded model. This model is responsible for several of the weaknesses and lapses that have already been outlined and the net effect is an erosion of value to the Federation. Furthermore, the accounting and reconciliation system for crude oil revenues used by all Government agencies appears to be inaccurate and weak. We noted significant discrepancies in data from different sources. The lack of independent audit and reconciliation led to over reliance on data produced from NNPC which may not necessarily be accurate. This matter is further compounded by the lack of independence within NNPC as the business has conflicting interests of being a stand-alone selffunding entity and also the main source of revenue to the Federation account. Will the parasites in Nigeria see this and close NNPC down. |
| Re: Copy of Forensic Audit Report Into Allegations Of Unremmited Fund..P-Times by omonnakoda: 8:30pm On Apr 27, 2015 |
One thing we can be sure of if GEJ had won the election this report would never see tthe light of day and Nigeria was heading for a bad place financially 1 Like |
| Re: Copy of Forensic Audit Report Into Allegations Of Unremmited Fund..P-Times by bettercreature(m): 8:31pm On Apr 27, 2015 |
The cooked report seems too big to be converted |
| Re: Copy of Forensic Audit Report Into Allegations Of Unremmited Fund..P-Times by atlwireles: 8:31pm On Apr 27, 2015 |
For the sai crowd coming to provide free food for their poverty stricken children and N5,000 for their lazy bothers, please look at the total oil revenue between Jan 2012 and July 2013, about $70B. I hope you people have other plans to generate cash for your nanny state programs. 1 Like |
| Re: Copy of Forensic Audit Report Into Allegations Of Unremmited Fund..P-Times by omenka(m): 8:36pm On Apr 27, 2015 |
Wow!!! Imagine this!! He's yet to be sworn in yet they've started doing what they ought to have done months and years ago! This is the real Fresh Air! I see Nigeria rising again.  @ LRNZH: Brosssss!! Where the heck have you been!!??  3 Likes |
| Re: Copy of Forensic Audit Report Into Allegations Of Unremmited Fund..P-Times by LRNZH(m): 8:37pm On Apr 27, 2015 |
atlwireles: You miss the point. 1. About 400,000 barrels per day is being illegally bunkered by Tompolo (& co) under NIMASA and this is about $10 - $12 Billion not accounted for in the $70Billion you quote. 2. NNPC was asked to refund a minimum of $1.48 Billion after just a glance at their books by PwC. A thorough audit will reveal massive rot which will be plugged by GMB's gov't. You cannot pretend not to see the massive scale of corruption going under GEJ's nose. 3. If you think $10Billion is a joke, take a look at this thread: https://www.nairaland.com/2067016/photos-10-billion-us-dollars 4 Likes |
| Re: Copy of Forensic Audit Report Into Allegations Of Unremmited Fund..P-Times by modath(f): 8:41pm On Apr 27, 2015 |
I'm patiently waiting for the TANoids to put their usual spin of hate/smear campaign on this. Can't just imagine what could have happened to our dearly beloved country if that guy and his cohorts had been successful in their attempt to blackmail us into allowing him to continue beyond 2015. 1 Like |
| Re: Copy of Forensic Audit Report Into Allegations Of Unremmited Fund..P-Times by LRNZH(m): 8:41pm On Apr 27, 2015 |
omenka: @Omenka da bawse! After we successfully sent Retardeen out, I have been taking a chill watching how GMB will constitute his government.... That is the most important event in the life of Nigeria now. That will determine the success or failure of APC's gov't. How have you been my man? |
| Re: Copy of Forensic Audit Report Into Allegations Of Unremmited Fund..P-Times by atlwireles: 8:46pm On Apr 27, 2015 |
LRNZH: Hold your peace till May 29. You will then offer Nigerians all these billions you are pulling from the air. Remember free food for your poverty stricken children, N5,000 for the lazy crowd and the list goes on. Keep finding all these billions you will need every kobo. 3 Likes |
| Re: Copy of Forensic Audit Report Into Allegations Of Unremmited Fund..P-Times by baralatie(m): 8:49pm On Apr 27, 2015 |
case closed!! |
| Re: Copy of Forensic Audit Report Into Allegations Of Unremmited Fund..P-Times by ferhyntorlah(f): 8:50pm On Apr 27, 2015 |
seunmsg:Please do and let's have your analyses. Thanks! |
| Re: Copy of Forensic Audit Report Into Allegations Of Unremmited Fund..P-Times by TechRev: 8:50pm On Apr 27, 2015 |
WhY cant they audit the NNPC from 1977 till date?? This damnable zoological republic called Nigeria full of baboons and monkeys. Is there any audit of NNPC from inception to January 1st 2012?? No! so Why start in 2012?? This country is just sickening a zoo, for the looters and the looted, baboons and monkeys. |
| Re: Copy of Forensic Audit Report Into Allegations Of Unremmited Fund..P-Times by LRNZH(m): 8:51pm On Apr 27, 2015 |
atlwireles: You, my friend, is an enemy of progress. You seem to wish GMB fails to cleanup Nigeria's colossal corruption and provide effective leadership. It is also your loss as a Nigerian, if you are unaware, for GMB to fail. 2 Likes |
| Re: Copy of Forensic Audit Report Into Allegations Of Unremmited Fund..P-Times by Sweetguy25: 8:51pm On Apr 27, 2015 |
I've downloaded and I'm perusing through the report. . . But its for selfish purposes though. |
| Re: Copy of Forensic Audit Report Into Allegations Of Unremmited Fund..P-Times by omenka(m): 8:54pm On Apr 27, 2015 |
LRNZH:I couldn't be better bro. . Thought about you earlier today, even wanted to mention you cos I noticed you've been AWOL since our conquest. Always a treat reading your inputs. I've got a firm belief Buhari wouldn't flop. Most choices he's made so far point in that direction. . I can't imagine what would have happened to this country had Jonathan been returned; she would have gone under in a year of frenzied looting!Good to see you again. 1 Like |
| Re: Copy of Forensic Audit Report Into Allegations Of Unremmited Fund..P-Times by ferhyntorlah(f): 8:55pm On Apr 27, 2015 |
modath:I can only imagine. |
| Re: Copy of Forensic Audit Report Into Allegations Of Unremmited Fund..P-Times by tayoxx(m): 8:55pm On Apr 27, 2015 |
reading |
| Re: Copy of Forensic Audit Report Into Allegations Of Unremmited Fund..P-Times by baralatie(m): 8:57pm On Apr 27, 2015 |
TechRev:yes there was an earlier audit under obj! |
| Re: Copy of Forensic Audit Report Into Allegations Of Unremmited Fund..P-Times by dustydee: 9:01pm On Apr 27, 2015 |
Damning report |
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