JONATHAN APPROVES SHARING OF RECOVERED $1.48 BILLION BUT SITS ON NNPC AUDIT REPORT

-
Petroleum Minister, Diezani Alison-Madueke


Despite dilly-dallying on whether or not to make public the full report of the forensic audit on the operations of the Nigerian National Petroleum Corporation, President Goodluck Jonathan has approved the disbursement of the $1.48 billion (about N249 billion) recovered from the national oil company.
The return of the money by the NNPC is one of the major recommendations of the audit conducted by global firm, PriceWaterHouseCoopers. The full audit report is yet to be made public despite protests by Nigerians including civil society groups and opposition parties.
However, on Tuesday, officials stated that Mr. Jonathan had asked that the money, once returned by the state oil firm, be shared among the tiers of government.
The confirmation of the President’s approval came from both the Minister of State for Finance, Bashir Yuguda, and the Chairman of the Commissioners’ of Finance Forum, Timothy Odaah, who spoke at the end of the February meeting of the Federation Accounts Allocation Committee in Abuja.

Comments

Post a Comment

Popular posts from this blog

America and Arab allies launch 50 strikes on terrorist group's Syrian heartland and warns its fanatical leaders 'this is only the beginning'

-
Image
                       America and five Arab countries have launched dozens of air strikes against Islamic terrorist group ISIS, killing at least 20 militants and blasting a series of its bases. The attacks - described as 'shock without awe' - began early this morning local time, with Tomahawk missiles, B1 bombers, F16, F18 and F22 strike fighters and drones involved. American air power was backed by 'participation or support' from Saudi Arabia, Bahrain, Qatar, Jordan and the UAE - a coalition of nations that has agreed to assist with the destruction of ISIS. Continue...
Read more

Shell 'warned Nigeria pipeline could leak before spills'

-
Image
  Oil firm Royal Dutch Shell was told a pipeline had reached the end of its life years before it spilled up to 500,000 barrels of oil, according to court documents seen by the BBC. Two spills in 2008 affected about 35 sq miles (90 sq km) in southern Nigeria, according to a group suing Shell. The area included sensitive mangroves. Shell "dismisses the suggestion that it has knowingly continued to use a pipeline that is not safe to operate," it told the BBC . The emails, letters and internal reports submitted to a court in London show that senior Shell employees were concerned before the spill that Shell's pipelines in the area had reached the end of their lives and needed replacing to avoid danger to lives, the environment and the economy. Continue...
Read more