Missing Oil Money: Finance Minister Puts Pressure On Jonathan; NGF Lends Support For Forensic Audit Of NNPC …Tambuwal Vows To Probe Revenue Losses

 

 

L-R:NNPC Group Managing Director, Mr Andrew Yakubu (right), with members of the House Joint Committee on Petroleum Resources Downstream, Upstream and Justice, investigating the alleged connivance of NNPC with Swiss Oil dealers to rob Nigeria in Abuja, yesterday (25/02/2014)

The Finance Minister has released a statement calling for an urgent independent probe of the Nigeria National Petroleum Corporation. The statement said,” the Minister of Finance and Coordinating Minister for the economy, Dr Ngozi Okonjo-Iweala has asked for urgent action with regard to an independent forensic audit of conflicting claims of unaccounted funds made by the NNPC and suspended governor of the Central Bank of Nigeria, Mallan Sanusi Lamido Sanusi.

Dr Okonjo-Iweala added, ‘my position on this has been clear from the start. The ministry of Finance’s reconciliation showed a shortfall of $10.8billion in NNPC remittances to the federation account. After this, the conflicting claims continued with new figures such as $20billion being mentioned. ‘So since 13th February I have called for an independent forensic audit.
President Goodluck indeed announced on last (Monday) night that there will be an investigation into whether there are any funds missing from NNPC. He also indicated that the correct process needs to be followed in this investigation and I understand that the entity that has the proper authority to initiate such an investigation is the Auditor-General of the  Federation.

“I therefore want to see the truth from an investigation  under the auspices of the Auditor General, which in my view should be undertaken as a matter of extreme urgency by independent external auditor”, the state concluded. Similarly, the Nigerian Governors Forum (NGF) yesterday expressed support for the call by the Minister of Finance, Dr Ngozi Okonjo-Iweala and the Senate, for a forensic audit of the Nigerian National Petroleum Corporation (NNPC) account. Chairman of the NGF and Governor of Rivers State, Rt Hon Chibuike Rotimi Amaechi, said this in a statement shortly after an emergency meeting of the forum, which ended at the early hours of yesterday in Abuja.

The NGF said that an independent forensic audit of the NNPC would put paid to the issue of missing oil revenue from the Federation Account. Amaechi commended the Federal Government efforts at curbing Boko Haram insurgents in the North.
While condemning the current spate of killings in the North- East, it applauded the effort of the Nigerian military and other security agencies, which were tackling the insurgents. Amaechi, who read the communiqué to newsmen, called on the Federal Government to be more responsive to the people. “We expect that the Federal Government should wake up to its responsibility of protecting lives and property in the country, especially in the North-East,” he said. Amaechi reiterated the forum concern on the non-conveyance of the National Economic Council (NEC) meeting by the Federal Government.
According to him, the NEC meeting has not been held for seven months, this he said, has hindered the constitutional opportunity to discuss the state of the nation’s economy.

He appealed to the judiciary, particularly the Supreme Court, to accelerate hearing on constitutional cases such as the case of the Excess Crude Account and illegal deduction of oil subsidy. He described the impeachment move against Governor Tanko Al-Makura of Nasarawa, as a renewed assault on constitutional democracy. The NGF is an umbrella association of the 36 elected state governors of the federation, irrespective of party affiliation. Sen. Bukola Saraki, a former governor of Kwara, also made a brief appearance at the meeting. However, the Speaker, House of Representatives, Alhaji Aminu Tambuwal, has reiterated the parliament’s resolve to continue on the path of “truth” while addressing issues of revenue losses. Tambuwal said this yesterday in Abuja at the investigative hearing on the alleged connivance of the Nigerian National Petroleum Corporation (NNPC) with Swiss oil dealers to rob Nigeria of billions of dollars.

The hearing was organised by the Joint committees on petroleum resources (upstream), petroleum resources (downstream) and Justice. The Speaker, who was represented by the Chairman, Committee on Justice, Rep. Ali Ahmad, said that the importance of the investigation could not be over- emphasised. Tambuwal said that it was based on this conviction that the House of Representatives, in its wisdom, referred the allegation to the joint committees to investigate. He urged the committees to carry out the investigation with an “open mind”. Earlier, the lead Chairman of the joint committees, Rep. Muraina Ajibola (PDP-Oyo), said that the hearing was not aimed at witch-hunting anybody. He assured that the investigation would be carried out with a sense of “seriousness” to get to the root of the matter.