Maikanti Baru, over the latter’s alleged award of $25 billion contracts without deference to the minister.
Investigation conducted by our correspondent revealed that President Buhari met with Kachikwu while Vice President Yemi Osinbajo had audience with Baru in a different meeting.
A top source, who spoke in confidence, said: “The President took time to review all the issues raised in the August 30 memorandum. The points were considered one by one.
“They met for about an hour with the President listening and taking notes.
“And the minister, who used the opportunity to restate his high regard for the President, explained how the GMD had been treating him with disdain over what he wrote in his memo.
“He also said he was not out to sabotage the Federal Government under any guise.”
Findings however revealed that the GMD of NNPC met separately with Vice President Osinbajo.
The source said: “I am aware the GMD also came to have audience with the Vice President.”
There were indications yesterday that President Muhammadu Buhari might invite members of the board of NNPC to a meeting following revelations that they had “intervened” in the crisis of confidence between Kachikwu and Baru some months ago.
It was learnt that the President would find out from the board members if the disagreement over the contracts was actually brought to their notice.
A government source added: “There is no way the President will not hear from the board members. The Minister alleged that he was sidelined and in over one year of Baru’s tenure, no contract has been run through the board.
“The GMD of NNPC is adamant in maintaining that every transaction was reported to the board, whether on or before the inauguration of the board. He has cited minutes of board meetings.
“It is now left to the President to hear from board members on what actually happened.”
A source close to the board of NNPC said: “The truth is that the problem between the Minister and the GMD is mainly ego.
“Kachikwu tried and Baru tried in addressing the rot in the oil sector and NNPC. The gains are visible for all stakeholders in the oil and gas industry.
“In the past few months, we have been intervening in the crisis of confidence between the Minister and the GMD. They had been having issues and we have been able to control the situation.
“For instance, they had disagreement on appointments. We were decisive and we made a pronouncement.
“We advised them on how to go about doing things to sustain the stability we are gradually experiencing in the oil and gas industry.”
On the disputed contracts, the source said: “The award of about one or two contracts preceded the inauguration of the board. For instance, when the NNPC entered into the AKK pipeline contract, which the minister said was valued at approximately $3b, there was no board then. But when it was reported to the board, we were told it was at no cost to the Federal Government.”
The minister had accused the GMD of awarding $25 billion contracts without consulting either his office or the Board of NNPC.
He blamed the GMD of alleged insubordination, lack of adherence to due process and running a “bravado management style.”
He said: “The following major contracts were never reviewed by or discussed with me or the Board of NNPC:
The Crude Term Contracts – value at over $10b
The DSDP contracts – value over $5b
The AKK pipeline contract – value approximately $3b
Various financing allocation funding contracts with the NOCs – value over $3bn
Various NPDC production service contracts – value at over $3bn – $4bn
“There are many more, Your Excellency. In most of these activities, the explanation of the GMD is that you are the Minister of Petroleum and your approvals were obtained. However, the correct governance should be that the Minister of State and the Board review the transaction and give their concurrence prior to presentation to you.
“As in many cases of things that happen in NNPC these days, I learn of transactions only through publications in the media. The question is why is it that other parastatals which I supervise as Minister of State or Chair of their Boards are able to go through these contractual and mandatory governance processes and yet NNPC is exempt from these?
“I know that this bravado management style runs contrary to the cleansing operations you engaged me to carry out at the inception of your administration. This is also not in consonance with your own renowned standards of integrity.”


http://quamiller.com/11ZA

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...sources close to the Board. I see the hand of Abba Kyari here. The tone of defense in an attempt to water down the gravity of the issue sounds so much like his.
If there was nothing really other than a battle of egos, why was kachiukwu prevented from seeing Buhari repeatedly?

Time shall tell it all.

BTW, OP what's your source?

oro pesije

The board can' be lobbied

The NNPC is under the ministry of Petroleum and supposed to be supervised by same Ministry. When the President hijacks the Ministry to himself, and he is not doing the needful concerning that ministry, what do we expect? And to think that President Buhari claims he wants to sanitize the ministry and he took time to select and appoint Baru, and by the end of the day these rot is coming from this same ministry supervised by d President himself.
Who do we blame?
The National Assembly should make law to stop any President from being the Petroleum Minister in addition to being d President. Obasanjo started it, Buhari has continued with it. But the trend has to stop.
By the way, is Buhari receiving salary as d President as well as d Minister for Finance? That's corruption in disguise.

BeardedMeat:
...sources close to the Board. I see the hand of Abba Kyari here. The tone of defense in an attempt to water down the gravity of the issue sounds so much like his.
If there was nothing really other than a battle of egos, why was kachiukwu prevented from seeing Buhari repeatedly?

Time shall tell it all.

BTW, OP what's your source?

His source is 'close to the board'.

Hmmmm, Time Will Tell

Nonsense, the president is long gone and all these fools acting as if he is around working when he is no where to be found are just deceiving themselves.

Even those who are continuing to go along with it is because of personal and regional interest

Sack corrupt appointees, show leadership by example.

BeardedMeat:
...sources close to the Board. I see the hand of Abba Kyari here. The tone of defense in an attempt to water down the gravity of the issue sounds so much like his.
If there was nothing really other than a battle of egos, why was kachiukwu prevented from seeing Buhari repeatedly?

Time shall tell it all.

BTW, OP what's your source?

Exactly what I wanted to type.

Eventually the truth shall be out as we only have one account of what is happening.

See this:

”
On the disputed contracts, the source said: “The award of about one or two contracts preceded the inauguration of the board. For instance, when the NNPC entered into the AKK pipeline contract, which the minister said was valued at approximately $3b, there was no board then. But when it was reported to the board, we were told it was AT NO COST to the Federal Government.”

Utter rubbish
Trying to water down the corruption in the buhari ministry by painting it as a mere supremacy battle will not work...


Buhari and kanti baru stole the money without putting kachikwu in the know....
Now he has blew the lid on it
That's what happened
So it's either they settle him and appoint his crew or they threaten him....
One of the two Was The outcome of the meeting

BeardedMeat:
...sources close to the Board. I see the hand of Abba Kyari here. The tone of defense in an attempt to water down the gravity of the issue sounds so much like his.
If there was nothing really other than a battle of egos, why was kachiukwu prevented from seeing Buhari repeatedly?

Time shall tell it all.

BTW, OP what's your source?

On his hospital bed?.....check the time that letter was written

zombieHUNTER:
Utter rubbish
Trying to water down the corruption in the buhari ministry by painting it as a mere supremacy battle will not work...


Buhari and kanti baru stole the money without putting kachikwu in the know....
Now he has blew the lid on it
That's what happened
So it's either they settle him and appoint his crew or they threaten him....
One of the two Was The outcome of the meeting

Buhari will keep tormenting your "soul" till 2023, just learn how to live with it

greatiyk4u:




Buhari will keep tormenting your "soul" till 2023, just learn how to live with it

Unfortunately for you.. I don't need buhari to breath
He can steal as he likes today but be assured that he and his generation will pay for it tomorrow

Beyond the NNPC Board, contracts of such magnitude have to be approved by FEC. Was it? Who presented it?

greatiyk4u:



On his hospital bed?.....check the time that letter was written

Are you saying kachiukwu is lying?

Z

As usual, Buhari has swept this corruption under the rug.

They continue as if nothing was stolen, the hungry youths are singing Sai BABAR for them.