₦49.8b: Senate report clears NNPC, Deziani, says no money missing

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The Senate Committee on Finance which investigated the NNPC over allegations of fraud leveled against it by the suspended Governor of the Central Bank, Mallam Lamido Sanusi, today Wednesday May 28th submitted its report to the Senate saying no funds were missing, The Will Nigeria reports.
Sanusi had spuriously claimed in a leaked letter to President Goodluck that $49.8 billion in crude oil revenue was missing.
The detailed report according to sources at the Senate also cleared the NNPC and the Ministry of Petroleum of any wrong doing.
The report however directed the NNPC and the Ministry of Finance as well as other relevant agencies to reconcile a sum believed to be around $300 million dollars.

Pres.Jonathan meets NNPC chiefs over the alleged missing $20bn

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President Goodluck Jonathan on Thursday met top officials of the Nigerian National Petroleum Corporation in a meeting behind closed-door inside the Presidential Villa.

A source said the meeting, which was also attended by the Chairman of the Senate Committee on Finance, Senator Ahmed Makarfi; and the Minister of Petroleum Resources, Mrs. Diezani Alison-Madueke, was over the alleged missing $20bn crude oil sales proceeds.

Missing Or Not? Analysts Disagree On NNPC $49.8 Million Scandal

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In a letter to the President of Nigeria, the Central Bank Governor, Lamido Sanusi alleged that the NNPC didn't remit a total of 49.8 billion dollars in to the Federation Account between January 2012 and July 2013.

The news of this enormous sum missing from the State's coffers is coming on the heels of accussations against the Federal Government and its purported calm disposition towards corruption in government agencies.

Ole Gba ,Ole Gbe: NNPC Sold $20.9bn Crude, Remits Just $7bn

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The House of Representatives on Thursday ordered another round of investigation into the sale of crude oil and its remittances by the Nigerian National Petroleum Corporation to the nation's account. The focus of the new investigation is “volume and value of crude oil sales and remittances” by NNPC from January to date.

“Among the areas of concern is the NNPC's Joint Venture operations. There are several billions of dollars that are unaccounted for. Some JV partners should come prior to the committee and give information that the NNPC cannot contradict.

“Now, whenever you confront NNPC with this information, they don't address the difficulties at stake. Reports from the Auditor-General's Office have many cases contrary to the NNPC. When this investigation is being conducted, I urge the ad-hoc committee to liaise with the Public Accounts Committee. We've information we are able to give the committee to help the investigation.”

REVEALED: How NNPC And Swiss Traders Drain Nigeria BILLIONS Of Dollars

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A new report has detailed how the Nigerian National Petroleum Corporation, NNPC, in cohort with major Swiss oil trading companies, is draining Nigeria of billions of dollars of revenue through the sale of crude oil below the market value.

Mismanagement: NNPC Can’t Account For ₦500bn Subsidy Fund – Senate

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The Senate on Tuesday lamented that officials of the Nigerian National Petroleum Corporation failed to honour its invitation to give account of how they managed the  N32.00 removed as subsidy on each of the litre of petrol sold in the country between January 2012 and September 2013

Members of the  Senate Ad-hoc Committee on the Subsidy Reinvestment and Empowerment Programme raised the alarm while addressing journalists, two hours after officials of the NNPC and the Central Bank of Nigeria failed to honour an appointment with them.

NNPC : Nigeria’s refineries now producing 10m litres/day of fuel

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The Nigerian National Petroleum Corporation, NNPC, Thursday, announced an improvement in Nigeria’s refining capacity, declaring that domestic refining of Premium Motor Spirits, PMS, at the country’s three refineries has increased to 10.23 million litres per day.

According to Group Executive Director, Refining and Petrochemicals, NNPC, Engineer Anthony Ogbuigwe, the three refineries are also currently producing 5.53 million litres of dual purpose kerosene and 8.016 million litres of automotive gas oil, diesel daily.

Unknown Gunmen Kill Younger Brother Of NNPC GMD In Kaduna

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According to SaharaReporters, the younger brother of Nigerian National Petroleum Corporation (NNPC) Group Managing Director, Engr. Andrew La'ah Yakubu was gruesomely murdered by unknown gunmen in Kaduna this morning.

The gun men in conjunction with their collaborators reportedly trailed the GMD's younger brother from Kaduna town as he set off to Southern Kaduna to attend a funeral in Zangon Kataf local government area of the state.

The deceased was traveling with his wife and little girl before they were ambushed in the middle of the road around Kachia local government area, the fate of the other occupants in his car remains unknown.

Policemen Attached To The NNPC Kill Two NSCDC Officers In Lagos, Set Pipeline Vandals Free

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Two officers of Nigeria Security and Civil Defence Corps, NSCDC, were ambushed and killed by police officers attached to Nigerian National Petroleum Corporation according to information relived by eyewitnesses and also confirmed with the spokesperson of the NSCDC in Lagos, Okeh Emmanuel.

Two officers involved in anti-vandal activities were fatally shot as they drove in the NSCDC operational vehicle after arresting four vandals of pipelines belonging to the NNPC after they were caught siphoning fuel.

Some officers were also injured in the attack which took place in the Ikorodu axis of Lagos.

House Committee Orders Arrest Of 3 Top NNPC Staff Over Missing Funds Running Into Billions Of Dollar

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House of Representatives Committee on Public Account has ordered the Inspector General of Police, Mr Mohammed Abubakar, to arrest and bring before the committee, the Group Managing Director of Nigeria National Petroleum Corporation (NNPC), Engineer Andrew Yakubu, the Executive secretary, Petroleum Products Price regulatory Agency (PPPRA), Mr Reginald Stanley, and the Director Department of Petroleum Resources, Mr Augustine Olorunsola.

This is as a result the refusal of the trio to appear before the committee to defend the multi-billion dollar Auditor-General of the Federation query dated back to 2007. The IGP has therefore been given an ultimatum to ensure that the three individuals were brought before the committee in person by 1.00pm today.

NNPC Manager Arraigned Over N285.2 Million Fraud

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A former depot supervisor of Total Nigeria Plc, Emmanuel Abulude, was Friday arraigned by the Economic and Financial Crimes Commission, EFCC, before an Ikeja high court for allegedly stealing petroleum products worth N285.2 million.

The former oil company official was charged  on a one-count charge of stealing by fraudulent conversion before Justice Lateefa Okunnu with his company, Emmanbyink Ventures Limited.

Abulude was alleged to have obtained the sum of N285.2 million representing the proceeds of 92 trucks of petroleum products  between September 2011 and January 2012 .

PDP Does Not Need Merger, They Already Merged With The Police, INEC, Judiciary, NNPC, Etc. – Buhari

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Former Military Head of State and National Leader of the Congress for Progressive Change, Maj.-Gen. Muhammadu Buhari (retd.), has said Nigeria is in the grip of bad government. According to him, the Peoples Democratic Party wants to retain power by hook or crook.

Speaking in Abuja on Monday at an interactive session with the party’s elected representatives, Buhari said that the events of the last 13 years had shown that the PDP did not possess the capacity to lead the country. He said while other political parties were merging and planning alliance, the PDP was busy aligning with the Independent National Electoral Commission, security agencies and the judiciary in order to remain in power.

Tragedy Averted: NNPC Aircraft Overshoots Runway

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An air tragedy was earlier today averted when an aircraft belonging to the Nigerian National Petroleum Corporation (NNPC), 5NNOC operated by Aero contractors overshot the runway on landing at the Osubi airstrip, in Warri, Delta state. In a statement, the Acting Group General Manager, Group Public Affairs Division of the NNPC, Tumini Green, while confirming the incident, said the aircraft was on a routine operation to Warri when it overshot the runway of the airport.

The statement said there were no casualties or injuries and that the appropriate aviation agencies have been contacted and investigations have commenced.