CioAngels:
All these spokespersons, couldn't Laolu Akanke have gotten confirmation before tweeting the wrong thing to the world. All they do is embarrassing their bosses. Akande, hope you are not trying to box IN your boss for millions of naira? I can't trust us. All these dangling modifiers.

Clerverly:


in the eyes of Ipob terrorists?

Clerverly:
[s][/s]

Did you even read article? The so called 640Billion Naira Contract being bandied about was just an Ordinary joint Venture Loan Between NNPC and Shell and NNPC and Chevron!

Go school , you go dey follow Nnamdi Kanu up and down!

reality1010:

This govt is a nest of corruption.It has suddenly surpassed IBB&Abacha's corruption.unfortunately that s what we bargained.

Clerverly:
[s][/s]

Did you even read article? The so called 640Billion Naira Contract being bandied about was just an Ordinary joint Venture Loan Between NNPC and Shell and NNPC and Chevron!

Go school , you go dey follow Nnamdi Kanu up and down!

aolawale025:
It's gets messier! So who approved the contracts

Clerverly:


Ipob yoot, the so called contract, was the joint Venture loan bewteen NNPC, shell AND CHEVRON valued at 630 Billion! It was not a procurement contract, as you were to believe! Deluded ipob yoot!

Clerverly:


What do you want fly? is it lack of comprehension or what? That so called contract of 514Billion is nothing but a loan!

smh!

Clerverly:


President Muhammadu Buhari was granting approvals for oil deals to the Nigerian National Petroleum Corporation during the time he was on his sick bed in London – and when he had relinquished presidential powers to his Vice President – the head, Maikanti Baru, has indicated.

Mr. Baru said Mr. Buhari approved at least two separate oil contracts on July 10 and July 31 worth $1 billion and $780 million, respectively.
The N640.8 billion contracts (at N360/$ exchange rate) were approved when Mr. Buhari was receiving treatment for undisclosed ailments in London, and when he was not supposed to be exercising presidential powers, having named Vice President Yemi Osinbajo acting president in a formal correspondence to the National Assembly.
Mr. Buhari was flown to London on May 7, barely two months after he returned from his first 2017 medical vacation which saw him spend 50 days in the United Kingdom.

On May 9, a letter Mr. Buhari wrote to the Speaker of the House of Representatives and President of the Senate notifying them that he had relinquished presidential authorities in accordance with the Nigerian Constitution was read on the floor of both chambers.
Despite rumours of his early return, Mr. Buhari ultimately spent 103 days receiving treatment in London, returning on August 19.
On August 21, the president notified the National Assembly of his return in writing, saying he had “resumed” his “functions as the President of the Federal Republic of Nigeria with effect from Monday, 21st August, 2017.”
THE CONTRACTS


But on Monday, Mr. Baru revealed that Mr. Buhari had been exercising presidential powers by granting approvals for NNPC joint venture contracts when he was supposedly on his sickbed and not exercising presidential powers.
Mr. Baru gave details of the contracts as follows:
Search:
S/N PROJECT Amount (US$mn) APPROVALS LOAN EXECUTED BY
NTB PRESIDENTIAL
1. NNPC/CNL JV Project Cheetah 1200 16/04/15 01/09/15 Dr. E. I. Kachikwu
2. NNPC/CNL JV Project Falcon 780 26/04/17 31/07/17 Dr. M. K. Baru
3. NNPC/SPDC JV Project Santolina 1000 26/04/17 10/07/17 Dr. M. K. Baru
TOTAL [b]2980 [/b]
Showing 1 to 5 of 5 entries

(CNL refers to Chevron Nigeria Limited, SPDC to Shell Petroleum Development Company and JV to Joint Venture).
The disclosures were made when the NNPC responded – on behalf of Mr. Baru – to the allegations of contract fraud and insubordination raised by Ibe Kachikwu.
Mr. Kachikwu, the Minister of State for Petroleum Resources, had in an August 30 memo to Mr. Buhari said Mr. Baru unilaterally approved contracts without recourse to him or the NNPC board, amongst other concerns. The memo surfaced on social media on October 3, sending ripples through the country’s polity.
On October 9, the NNPC responded to Mr. Kachikwu’s allegations by publishing the above contract details, which it said was at the instance of Mr. Buhari, who had kept mum since the scandal broke.
But a look at the dates of the three contracts shows that two of them received presidential approval on dates Mr. Buhari was not in the country, July 31 for the second contract with Chevron Nigeria and July 10 for the contract with Shell. Mr. Baru’s name was placed against the contracts as the person who administered the contract in his capacity as the Group Managing Director of the NNPC.
Ibe Kachikwu [Photo Credit: THISDAYLIVE]
Only the September 1, 2015, contract which Mr. Kachikwu oversaw during his tenure as the GMD of NNPC received presidential approval on a date Mr. Buhari was in the country and wielding presidential powers.
A compilation of Mr. Buhari’s travels reveals that he was in the country from early August 2015 when he returned from Cotonou until September 7 when he visited Accra.
But while it is clear that the presidential approval granted when Mr. Kachikwu was the head of NNPC happened when Mr. Buhari was exercising presidential powers; it appeared like Mr. Baru received his approval when Mr. Buhari was in London.
GETTING OSINBAJO’S CONSENT
In his memo to Mr. Buhari, Mr. Kachikwu stated that when Mr. Buhari was unwell in London for several months between May and August, Mr. Baru tried to get direct approval from Acting President Osinbajo for some personnel changes at the NNPC.


But Mr. Osinbajo asked Mr. Baru to go back to Mr. Kachikwu and get his input and approval first before making the changes. Mr. Baru refused to consult Mr. Kachikwu on that.
For weeks, the changes were not made, until Mr. Buhari returned on August 19. By August 29, Mr. Baru announced the changes.


When PREMIUM TIMES reminded him of potential legal implications of Mr. Buhari exercising presidential powers even when he had relinquished same in accordance with the constitution, Mr. Ughamadu dug his heels in.
“Presidential approval is presidential approval,” the spokesperson insisted.

For several hours on Tuesday, presidential spokespersons Femi Adesina and Garba Shehu, did not respond to PREMIUM TIMES’ requests seeking their comments about this and other problematic parts of the NNPC revelations.
Sola Adebawo, Director of Communications at Chevron, did not immediately respond to PREMIUM TIMES’ requests for comments Tuesday evening. His counterpart at Shell Nigeria, Bamidele Odugbesan, simply told PREMIUM TIMES to “direct enquiries to relevant government authorities.”
Maikanti Baru
Yet, the N640.8 billion oil contracts might not be the only one Mr. Baru got Mr. Buhari to approve while he was still unwell in London.



https://www.premiumtimesng.com/news/headlines/245722-buhari-approved-n640-billion-oil-contracts-sick-bed-london-nnpc-chief-baru-indicates.html

seunmsg:


Premiumtimes actually twisted Laolu Akande's press statement. He never said Osinbajo approved any procurement contract as wrongly reported by the media platform.

aolawale025:
It's gets messier! So who approved the contracts

pedrilo:
This tin is very clear
The love northerners hav for oil in Niger delta is strong
Strong enuf for Buhari to keep the min of petrol for himself
Strong enuf for baru to disregard osinbajo who was action president n as such minister of petrol n went to UK to get Buhari to approve oil contract
Love so strong enuf to hate resource control n restructuring
We r waiting for u guys come 2019

Clerverly:
[s][/s]

Did you even read article? The so called 640Billion Naira Contract being bandied about was just an Ordinary joint Venture Loan Between NNPC and Shell and NNPC and Chevron!

Go school , you go dey follow Nnamdi Kanu up and down!

secretsuccess:

Why are you so mischievious...osibanjo denied approving any contract...and you are already converting contract to loan.. The question should be who now approved the contracts

kolexy:


I'm amazed at how low the IQ of a lot of Nigerian youths is. The VP only approved a loan to fund NNPC JV cash call, simple. The other contract is actually crude swap contract, so money has not been spent yet. This is not to say Baru has the right to unilaterally approve such.

Clerverly:
[s][/s]

Did you even read article? The so called 640Billion Naira Contract being bandied about was just an Ordinary joint Venture Loan Between NNPC and Shell and NNPC and Chevron!

Go school , you go dey follow Nnamdi Kanu up and down!

Clerverly:


Ipob yoot, the so called contract, was the joint Venture loan bewteen NNPC, shell AND CHEVRON valued at 630 Billion! It was not a procurement contract, as you were to believe! Deluded ipob yoot!

secretsuccess:

Why are you so mischievious...osibanjo denied approving any contract...and you are already converting contract to loan.. The question should be who now approved the contracts

seunmsg:
Cleverly, the vice president just clarified the point i was trying to make on the other thread. What was approved was a financing arrangement and not a contract for procurement. Only FEC can approve procurement contract of over $20million for NNPC and not the president/acting president.

This clarification from the vice president is reassuring. It would have been a blow to the anti corruption posture of this government if they had continued defending the initial story that the acting president has the power to approve contract within the approval limit threshold of FEC.

seunmsg:
Cleverly, the vice president just clarified the point i was trying to make on the other thread. What was approved was a financing arrangement and not a contract for procurement. Only FEC can approve procurement contract of over $20million for NNPC and not the president/acting president.

This clarification from the vice president is reassuring. It would have been a blow to the anti corruption posture of this government if they had continued defending the initial story that the acting president has the power to approve contract within the approval limit threshold of FEC.

Do you sincerely think that most folks here have a clue what is being discussed? I don't blame the opposition and the usual ignorant headquarters of Nigeria, I blame Kachikwu who should have known that Nigerians are too dumb to understand what he wrote, some low IQs actually thought the NNPC paid someone or some group $26b to execute a contract,

Onojanson:
The contract is different from the loans. Vp approved the loans, who approved the contracts?

Marshalxv:



It seems you're the one who didn't read the article ,the VP just said he only approved a joint venture loan which is different from the contract in kachukwu's memo. The big question now is who approved the contract?

pedrilo:
This tin is very clear
The love northerners hav for oil in Niger delta is strong
Strong enuf for Buhari to keep the min of petrol for himself
Strong enuf for baru to disregard osinbajo who was action president n as such minister of petrol n went to UK to get Buhari to approve oil contract
Love so strong enuf to hate resource control n restructuring
We r waiting for u guys come 2019