Oil & Gas
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Sequel to the release of PricewaterhouseCoopers audit report which cleared the Nigerian National Petroleum Corporation of allegations of not remitting funds to federation account, the Move-on Nigeria, a civil society group is asking Sanusi Lamido Sanusi, Emir of Kano, who raised the alarm to apologise to President Goodluck Jonathan
| By Anayo Ezugwu | Mar. 2, 2015 @ 01:00 GMT |
THE Move-On Nigeria, a civil society group, wants Sanusi Lamido Sanusi, Emir of Kano, to apologise to Nigerians for misleading them by accusing the Nigerian National Petroleum Corporation, NNPC, of not remitting $49 billion into federations account. The Move-On Nigeria’s action is coming on the heels of the release of the PricewaterhouseCoopers forensic audit report on which cleared the NNPC. The group said as a mark of honour, Sanusi, who as the former governor of the Central Bank of Nigeria, CBN, raised the initial alarm that led to the probe should apologise to President Goodluck Jonathan and Diezani Alison-Madueke, minister of petroleum resources and the NNPC over the false allegation.
The group, in a statement signed by Clem Aguiyi, its national coordinator, said that the allegation by Sanusi focused more international attention on Nigeria just like the audit report did, adding that with the world watching, those who initially raised the allegation, and indeed, all those who reached judgemental conclusions, ought to swallow their pride and tender public apology to the president, the minister and also the senate of the Federal Republic of Nigeria.
“As a group which was in support of the call for a probe, we now feel that having had the result with the allegation of $49 billion missing proven to be false, we therefore call on the Emir of Kano, and indeed, all those who worked to heat up the polity and insulted the president of the Federal Republic and the minister of petroleum resources, to own up to their faults and apologise to the nation. Such apology will come as fence mending and a mark of honour given that this was an issue that attracted attention of the international community,” it said.
The group said such an act will be a show of humility and national patriotism. “Recall that the Emir of Kano, Muhammed Sanusi II, a man we all hold in high esteem, as governor of the Central Bank of Nigeria, CBN, raised the initial allegation that set off the probe by the audit firm of PricewaterhouseCoopers. The Senate also mandated its committee of Finance chaired by Ahmed Makarfi to investigate the allegation. Despite the Senate declaring that no money was missing, the figures kept changing and eventually we were left with something like $49billion missing. That prompted minister of finance and coordinating minister of the economy, Ngozi Okonjo-Iweala to institute a probe by the audit firm of PricewaterhouseCoopers, which recently submitted the final report to President Jonathan.
“In its report, the auditors stated that the gross revenue generated from federal government crude oil lifting from January 1, 2012, to 31 July, 2013, was $69.34 billion and not $67billion reported by the reconciliation committee. The total cash remitted into the Federation Accounts in relation to these crude oil lifting, was US$50.81billion and not US$47billion as earlier reported by the reconciliation committee. The balance of the generated revenue is accounted for as follows: a)Revenue reported by NPDC of US$5.11billion reported by the MD, Mr. Briggs during the Senate hearings will be accounted for through the financial statements of NPDC, and any dividend declared will flow into the Federation account. b) PMS and DPK Subsidy of US$8.7billion c) NNPC’s initial costs verified and accepted by the Senate of US$2.65billion d) Additional NNPC costs following the forensic audit US$2.81billion e) Added to the revenue is the unremitted NPDC signature bonus due for divested assets and taxes/royalties totalling US$2.22billion. e) Hence the net amount attributable to the federation account following the above summary is US$1.48billion,” the group said.
The Move-On Nigeria however, called on President Jonathan, to take action on other recommendations by the report while also urging the National Assembly to expedite action on the passage of the Petroleum Industry Bill, PIB, which according to them, will expressly resolve some of the findings of the audit as regards NNPC procedures and enabling law.
The group called on government to establish special corruption courts with specialised judges so as to ensure speedy conclusion of corruption cases. A situation where corruption cases are allowed to linger for some times 12 years without conclusion is grossly unacceptable. The group coordinator also urged for the probe of the activities of NNPC under former President Olusegun Obasanjo, so as to put a closure to all the wide allegations and speculations concerning loses in revenue to the federal government. The group praised the Jonathan administration for having the courage to audit itself. The audited report submitted by PricewaterhouseCoopers, indicated that only $1.48 billion was yet to be remitted to the federation account as against $49 billion mentioned as missing.
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Tags: Ahmed Makarfi CBN Central Bank of Nigeria Clem Aguiyi Diezani Alison-Madueke Emir of Kano Federation Accounts Goodluck Jonathan Move-On Nigeria Muhammed Sanusi II Ngozi Okonjo-Iweala Nigerian National Petroleum Corporation NNPC Olusegun Obasanjo Petroleum Industry Bill PIB PMS and DPK Subsidy PriceWaterhouseCoopers Sanusi Lamido Sanusi
