Audit Report Says NNPC Actually Overpaid Nigeria by $750m

Audit Report Says NNPC Actually Overpaid Nigeria by $750m


The PwC audit report on the finances of the Nigeria National Petroleum Corporation, NNPC, says the state company remitted an excess $750m into the federation account during the period being audited, Reuters reports.

President Goodluck Jonathan had released the audit days after Gen. Muhammadu Buhari had pledged to issue the report and crack down on corruption in the energy company once in office.

Details in the PriceWaterhouseCoopers (PwC) audit said NNPC actually overpaid by $0.74-billion in the period between January 2012 to July 2013, after remitting $50.81-billion to federation accounts of the $69.34-billion it had received.

The balance of $18.53-billion was accounted for through various operational costs, unremitted revenues by a subsidiary and gasoline and kerosene subsidies, it said.

The probe of Nigeria National Petroleum Corporation’s (NNPC) books was instituted last year after former central bank governor Lamido Sanusi said the firm had withheld $20-billion in oil revenue from government coffers, jeopardising the country’s finances

APC suspends zoning

APC suspends zoning


The All Progressives Congress (APC) has suspended the zoning of offices, especially in the National Assembly, reports New Telegraph.

The suspension is to defuse tension following the jostling for positions by lawmakers from both chambers.

All deliberations on the zoning formula have been suspended till after May 29 when the new government would have been inaugurated.

The decision to suspend all deliberations until after May 29 was taken after the President- elect, Muhammadu Buhari intervened.

Buhari was said to be disturbed by the dangerous media slant the issue has taken.

Read more at New Telegraph.

Alleged Nigerian drug dealer bust in SA

Alleged Nigerian drug dealer bust in SA


A Nigerian national, Chijioke Okoli (43) has appeared at the Durban Magistrates Court in South Africa facing charges of dealing in drugs.

According to the South African Police Service (SAPS)'s Durban Flying Squad Narcotics Task Team, which conducted investigations, found Okoli with flat six packets of cocaine and three mandrax tablets with a street value of R25 000.

The Nigerian national was arrested on Tuesday at around 16:30 local time at a flat on 6th Avenue in Essenwood, Durban.

Okoli was remanded in custody for further investigation.

Commenting about the drugs, KwaZulu-Natal Police Commissioner, Lieutenant General Mmamonnye Ngobeni, congratulated the members of the Flying Squad for capturing the alleged drug dealer and removing the drugs off the streets.

"We also wish to applaud those members of our community that support this project by continuously informing police on the activities of drug dealers in the province. We will persist regardless of obstacles that may come our way, knowing that we enjoy the support of law abiding members of our communities,

FULL LIST -Buhari's 19-Member Transition Committee

FULL LIST -Buhari's 19-Member Transition Committee


Muhammadu Buhari, Nigeria's president-elect today inaugurated a 19-member transition.

See full committee list :

1. Mal. Ahmed Joda – Chairman

2. Dr Doyin Salami – Vice-Chairman

3. Mr Boss Mustapha

4. Mal. Muhammad Hayatuddin

5. Alh. Abubakar Malami SAN

6. Brig. Gen. Lawal Jafaru Isa

7. Sen. Hadi Sirika

8. Sen. Audu Ogbeh

9. Barrister Dalong

10. Mrs Bola Adesola

11. Mr Wale Edun

12. Mrs Nike Aboderin

13. Dr Ogbonnaya Onu

14. Mr Festus Odimegwu

15. Chief John Oyegun

16. Gov. Rotimi Amaechi

17. Dr. Tam David West

18. Alh. Lai Mohammed

19 Mal. Adamu Adamu – Secretary

 

AIT Chairman to Buhari: You Are Powerless Here, Old Dictator

AIT Chairman to Buhari: You Are Powerless Here, Old Dictator


Daar Communications chairman, Raymond Dokpesi has stated that General Muhammadu Buhari lacks the power (constitutionally) to stop the TV station from covering his activities.

Daily Indepedent reports this story, saying that Buhari's decision to bar the radio station on Monday was like Nigeria going back to the Decree 4 era, which was enacted by Buhari's junta back in the day as a muzzle on the press of his time.

Dokpesi said: “I am sure that the President-elect needs to be reminded of Decree 4, and he should be clearly reminded that Section 32 of the constitution makes it mandatory for the media to hold public officials accountable to the people.

“The president-elect said that he does not want to be covered by AIT, but AIT has a responsibility to the Nigerian public to report the things that are happening.

“There are three national networks available for national coverage in Nigeria, the NTA, AIT and Silverbirds. You cannot stop a foremost private station from reporting in Nigeria, it brings us back to Decree 4 era.”

He said that AIT is a private entity and is therefore free to air what it feels like:

“If they had produced their own documentary to say this is what we want and AIT did not publish it, then that is another matter.

“What is obviously very clear is the fact that AIT believes that the historical information about the President-elect that were ran, were factually correct.

“Nothing was done to defame him or impinge on his character or integrity."

I Was Not Walked Out - Mu’azu

I Was Not Walked Out - Mu’azu


The National chairman of the Peoples Democratic Party (PDP) Dr. Adamu Mu’azu, has denied reports that he was walked out of a meeting by governors of the party at Akwa Ibom governors lodge in Asokoro.

Reports circulating in the media speculated that Muazu was evicted from a governors forum meeting by angry governors who accused him of betraying the party at the just concluded presidential elections.
Reacting to these reports, the party chairman on Wednesday, April 29 said nothing of such nature occurred.

However, the dismal outing of the PDP in the 2015 general elections has seen Mu’azu lose popularity among several PDP bigwigs.

The plot to unseat him has thickened as he has been blamed for the inability of the party to do well at the polls in the north in particular and the nation in general.

But the spokesman of the national chairman, Tony Amadi, told Leadership that Mu’azu was not bundled out of the meeting.

He said “If they said he was bundled out of the meeting where was his security details? If they attempt to bundle out the chairman there would have been a shoot out between the security details of Mu’azu and the governors and nobody wants that. Don’t forget you are talking about a former governor and a national chairman of a political party.

“What we are doing in the party now is how to restrategise and bounce back.”

He further lambasted those calling for Mu’azu to resign, noting that most of them failed to deliver their states at the polls.

Michael Igbinedion convicted, to be sentenced April 30

Michael Igbinedion convicted, to be sentenced April 30



The Federal High Court in Benin City, the Edo State capital, has convicted Michael Igbinedion, the younger brother of Edo State former governor Lucky Igbinedion of three and seven count charges bothering on money laundering, misappropriation of funds and abuse of office.


Michael, together with Eboigbodin and their companies; Gava Corporation Limited; Romrig Nigeria Limited; PML Securities Company Limited and PML Nigeria Limited were arraigned by the Economic and Financial Crimes Commission (EFCC) on 81- count charge.


According to reports, the judgement was read for close to four hours, after which the presiding judge, Justice J. Liman, called for a recess. The sitting was later called a day.


Their sentencing has however been scheduled for Thursday, April 30, 2015.
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