Skip to main content

How Diezani ignored due process in handling of N59.44 billion ‎NNPC funds – Audit Report


The 2015 audit report of the Federation Account has uncovered how the embattled former Minister of Petroleum Resources, Diezani Alison-Madueke, usurped National Assembly powers to draw billions in cash from the joint venture cash calls account without appropriation.

The report published last month by the Office of the Accountant General of the Federation, AuGF, showed how Mrs. Alison-Madueke unilaterally approved the withdrawal of about N59.44 billion from the two accounts belonging to the Nigerian National Petroleum Corporation, NNPC.

About $292.09 million was withdrawn from the NNPC JVCC JP Morgan Chase Account in London, while another N2.47 billion was from the NNPC JVCC CBN (Central Bank of Nigeria) naira account, for purposes outside the objectives the funds were provided for by the government.

Apart from the abuse of due process in getting approval for the release of the funds, the report said the release of $289.2 million (about N56.97 billion at 2015 year end rate of N197 to $1) to the National Intelligence Agency was in “cash”.

An additional $2.89 million was charged by the CBN as commission on the transaction, bringing the total amount disbursed to $292.09 million.

The report said the NIA had sought President Goodluck Jonathan’s approval for the release of the funds “for the procurement of 13 items of expenditure to enable NIA to respond to the nation’s mounting diverse and complex security challenges.”

However, the audit team said it found no evidence President Jonathan granted the NIA’s request, other than a minute on the memo to former Minister of Petroleum Resources, Diezani Alison-Madueke, seeking the release of the funds from the NNPC Security votes.

Comments

Popular posts from this blog

Is Davido A Member Of The Black Axe Secret Cult? Check Out What His Manager Is Saying

Asa Asika, Davido’s country manager,  has rubbished a controversial report which went viral last week that one Tobi Adegoke, a 25-year-old suspected member of the Black Axe cult was lured into becoming a member of the group with promises that joining the group would grant him the rare opportunity of meeting Davido, Vanguard reports. According to the suspect, a budding musician who is currently in police custody after being arrested and paraded alongside 26-other suspected cultists by the Lagos State Police Command last week Wednesday; he fell for the cheap trick because he believed meeting Davido would boost his music career.  “I am an Aiye member (Black Axe). I have been in the cult for about two years. I was told that Davido was a member and if I joined, I will be able to meet him. It was the guy who initiated me that said so. He said he worked for Davido and that it will be easy access for me. But since I joined, I have not met Davido. They told me I’ll become a very popular musici…

Marriage: A school of learning, discovery

By Pastor Okokon Ating I have been enlightened that marriage is an insti-tution established by God which no student has gra-duated from. Once an in-dividual is able to obtain admission into this sch-ool, one keeps on learning till death. In the school of marriage every student is a novice. No matter how highly educated one is, he/she has a blank knowledge compared with the normal academic attainment.                                                   wedding ring
There are many mysteries embedded in marriage unknown to the unlearned heart. Couples do not know marriage but learn and study it. That is, cou-ples learn and study it when they come into the practical aspect of it. I came in contact with a young lady who was busy attending marriage semin-ars and reading several books on marriage. Atten-ding seminars and reading books on marriage are good, I told her; but where you can know and be pr-oud of living confidently in marriage is when you enter into the reality of marriage. This is w…

Save The Planet, Preserve The Ozone Layer

Everything you need to live well
The activities done by man to make life easier has depleted the ozone layer and endangered Planet earth due to pollution. Planet Earth has indicated through global warming the most visible sign of climate change. According to the United Nations Environment Programme (UNEP), over the last century, sea levels have risen by between 10 and 25 centimeters, and carbon dioxide—the main cause of the greenhouse effect—is responsible for 85% of the increase in the Earth’s temperature over the last 10 years. To stop this negative effect and preserve the ozone layer, here are a few ways to check air pollution; Prevent bush burning In some rural areas bush burning is an easy way to prepare farmlands for cultivation. This is not only harmful to the soil but also the planet as well. Take precautions to avoid starting fires especially during the dry season. Buy organic products. Go for eco-friendly products that have no effec…