THE VANGUARD reports:
Dr Ngozi Okonjo-Iweala, the Coordinating Minister for the
Economy, on Thursday in Abuja called for independent forensic audit to resolve
the puzzle over missing funds to the CBN.
Okonjo-Iweala made the call at the Senate Committee on
Finance hearing on the alleged missing 20 billion dollars.
The News Agency of Nigeria (NAN) reports that Minister of
Petroleum, Mrs Deizani Alison-Madueke, was also at the hearing. Also at the
hearing were NNPC Group Managing Director, Mr Andrew Yakubu, and CBN Governor,
Mallam Lamido Sanusi.
“Let us now focus on the original 10. 8 billion dollars
which was the shortfall we had as at July 2013.
“Another reconciliation meeting was held at which NNPC
presented data of how they utilised the balance of 10. 8 billion.
“This includes amount withheld for subsidy 8. 76 billion
dollars, holding cost of strategic reserve 0. 4599 billion and pipeline crude
oil and product losses of 0. 761 billion.
There was also pipeline management at the cost of 0. 905
billion dollars,” she said.
According to her, the data presented are all certified by
Petroleum Products Pricing Regulatory Agency (PPPRA). She said the
reconciliation committees called for backup documents to enable it verify the
certified papers.
“Our judgment is that a proper examination of these documents
requires technical expertise beyond the capacity of the reconciliation team.
“Therefore, we believe we should have an independent
forensic audit to manage these submissions,” she said
She said that the 20 billion dollars alleged by the CBN as
missing featured in the original reconciliation effort in the cascade presented
by NNPC.
She said that the committee agreed that the issues
surrounding the alleged fund was legal and required careful legal
interpretation.
Earlier, the chairman of the committee, Ahmed Makarafi, had
charged reconciliation group to carry out the forensic audit and get back to
the committee in one month.
He said that the committee would reconvene on Feb. 20 to
enable the Attorney General of Federation to give a legal advice on the issue.
(NAN)
on Thursday in Abuja
called for independent forensic audit to resolve the puzzle over missing funds
to the CBN.
Okonjo-Iweala made the call at the Senate Committee on
Finance hearing on the alleged missing 20 billion dollars.
The News Agency of Nigeria (NAN) reports that Minister of
Petroleum, Mrs Deizani Alison-Madueke, was also at the hearing. Also at the
hearing were NNPC Group Managing Director, Mr Andrew Yakubu, and CBN Governor,
Mallam Lamido Sanusi.
“Let us now focus on the original 10. 8 billion dollars
which was the shortfall we had as at July 2013.
“Another reconciliation meeting was held at which NNPC
presented data of how they utilised the balance of 10. 8 billion.
“This includes amount withheld for subsidy 8. 76 billion
dollars, holding cost of strategic reserve 0. 4599 billion and pipeline crude
oil and product losses of 0. 761 billion.
There was also pipeline management at the cost of 0. 905
billion dollars,” she said.
According to her, the data presented are all certified by
Petroleum Products Pricing Regulatory Agency (PPPRA). She said the reconciliation
committees called for backup documents to enable it verify the certified
papers.
“Our judgment is that a proper examination of these
documents requires technical expertise beyond the capacity of the
reconciliation team.
“Therefore, we believe we should have an independent
forensic audit to manage these submissions,” she said
She said that the 20 billion dollars alleged by the CBN as
missing featured in the original reconciliation effort in the cascade presented
by NNPC.
She said that the committee agreed that the issues
surrounding the alleged fund was legal and required careful legal
interpretation.
Earlier, the chairman of the committee, Ahmed Makarafi, had
charged reconciliation group to carry out the forensic audit and get back to
the committee in one month.
He said that the committee would reconvene on Feb. 20 to
enable the Attorney General of Federation to give a legal advice on the issue.
(NAN)
“Missing” $20 bn CBN: Okonjo-Iweala calls for forensic audit
The
Coordinating Minister for the Economy, Dr Ngozi Okonjo-Iweala, on
Thursday in Abuja called for independent forensic audit to resolve the
puzzle over unremitted funds to the CBN.
Okonjo-Iweala made the call at the Senate Committee on Finance hearing on the alleged missing 20 billion dollars.
The News Agency of Nigeria (NAN) reports that Minister of Petroleum, Mrs Deizani Alison-Madueke, was also at the hearing.
Also at the hearing were NNPC Group Managing Director, Mr Andrew Yakubu, and CBN Governor, Mallam Lamido Sanusi.
“Let us now focus on the original 10. 8 billion dollars which was the shortfall we had as at July 2013.
“Another reconciliation meeting was held at which NNPC presented data of how they utilised the balance of 10. 8 billion.
“This includes amount withheld for subsidy 8. 76 billion dollars, holding cost of strategic reserve 0. 4599 billion and pipeline crude oil and product losses of 0. 761 billion.
There was also pipeline management at the cost of 0. 905 billion dollars,” she said.
According to her, the data presented are all certified by Petroleum Products Pricing Regulatory Agency (PPPRA).
She said the reconciliation committees called for backup documents to enable it verify the certified papers.
“Our judgment is that a proper examination of these documents requires technical expertise beyond the capacity of the reconciliation team.
“Therefore, we believe we should have an independent forensic audit to manage these submissions,” she said
She said that the 20 billion dollars alleged by the CBN as missing featured in the original reconciliation effort in the cascade presented by NNPC.
She said that the committee agreed that the issues surrounding the alleged fund was legal and required careful legal interpretation.
Earlier, the chairman of the committee, Ahmed Makarafi, had charged reconciliation group to carry out the forensic audit and get back to the committee in one month.
He said that the committee would reconvene on Feb. 20 to enable the Attorney General of Federation to give a legal advice on the issue. (NAN)
Okonjo-Iweala made the call at the Senate Committee on Finance hearing on the alleged missing 20 billion dollars.
The News Agency of Nigeria (NAN) reports that Minister of Petroleum, Mrs Deizani Alison-Madueke, was also at the hearing.
Also at the hearing were NNPC Group Managing Director, Mr Andrew Yakubu, and CBN Governor, Mallam Lamido Sanusi.
“Let us now focus on the original 10. 8 billion dollars which was the shortfall we had as at July 2013.
“Another reconciliation meeting was held at which NNPC presented data of how they utilised the balance of 10. 8 billion.
“This includes amount withheld for subsidy 8. 76 billion dollars, holding cost of strategic reserve 0. 4599 billion and pipeline crude oil and product losses of 0. 761 billion.
There was also pipeline management at the cost of 0. 905 billion dollars,” she said.
According to her, the data presented are all certified by Petroleum Products Pricing Regulatory Agency (PPPRA).
She said the reconciliation committees called for backup documents to enable it verify the certified papers.
“Our judgment is that a proper examination of these documents requires technical expertise beyond the capacity of the reconciliation team.
“Therefore, we believe we should have an independent forensic audit to manage these submissions,” she said
She said that the 20 billion dollars alleged by the CBN as missing featured in the original reconciliation effort in the cascade presented by NNPC.
She said that the committee agreed that the issues surrounding the alleged fund was legal and required careful legal interpretation.
Earlier, the chairman of the committee, Ahmed Makarafi, had charged reconciliation group to carry out the forensic audit and get back to the committee in one month.
He said that the committee would reconvene on Feb. 20 to enable the Attorney General of Federation to give a legal advice on the issue. (NAN)
“Missing” $20 bn CBN: Okonjo-Iweala calls for forensic audit
The Coordinating Minister for the Economy, Dr Ngozi
Okonjo-Iweala, on Thursday in Abuja called for independent forensic audit to
resolve the puzzle over unremitted funds to the CBN.
Okonjo-Iweala made the call at the Senate Committee on
Finance hearing on the alleged missing 20 billion dollars.
The News Agency of Nigeria (NAN) reports that Minister of
Petroleum, Mrs Deizani Alison-Madueke, was also at the hearing.
Also at the hearing were NNPC Group Managing Director, Mr
Andrew Yakubu, and CBN Governor, Mallam Lamido Sanusi.
“Let us now focus on the original 10. 8 billion dollars
which was the shortfall we had as at July 2013.
“Another reconciliation meeting was held at which NNPC
presented data of how they utilised the balance of 10. 8 billion.
“This includes amount withheld for subsidy 8. 76 billion
dollars, holding cost of strategic reserve 0. 4599 billion and pipeline crude
oil and product losses of 0. 761 billion.
There was also pipeline management at the cost of 0. 905
billion dollars,” she said.
According to her, the data presented are all certified by
Petroleum Products Pricing Regulatory Agency (PPPRA).
She said the reconciliation committees called for backup
documents to enable it verify the certified papers.
“Our judgment is that a proper examination of these
documents requires technical expertise beyond the capacity of the
reconciliation team.
“Therefore, we believe we should have an independent
forensic audit to manage these submissions,” she said
She said that the 20 billion dollars alleged by the CBN as
missing featured in the original reconciliation effort in the cascade presented
by NNPC.
She said that the committee agreed that the issues
surrounding the alleged fund was legal and required careful legal
interpretation.
Earlier, the chairman of the committee, Ahmed Makarafi, had
charged reconciliation group to carry out the forensic audit and get back to
the committee in one month.
He said that the committee would reconvene on Feb. 20 to
enable the Attorney General of Federation to give a legal advice on the issue.
(NAN)
The
Coordinating Minister for the Economy, Dr Ngozi Okonjo-Iweala, on
Thursday in Abuja called for independent forensic audit to resolve the
puzzle over unremitted funds to the CBN.
Okonjo-Iweala made the call at the Senate Committee on Finance hearing on the alleged missing 20 billion dollars.
The News Agency of Nigeria (NAN) reports that Minister of Petroleum, Mrs Deizani Alison-Madueke, was also at the hearing.
Also at the hearing were NNPC Group Managing Director, Mr Andrew Yakubu, and CBN Governor, Mallam Lamido Sanusi.
“Let us now focus on the original 10. 8 billion dollars which was the shortfall we had as at July 2013.
“Another reconciliation meeting was held at which NNPC presented data of how they utilised the balance of 10. 8 billion.
“This includes amount withheld for subsidy 8. 76 billion dollars, holding cost of strategic reserve 0. 4599 billion and pipeline crude oil and product losses of 0. 761 billion.
There was also pipeline management at the cost of 0. 905 billion dollars,” she said.
According to her, the data presented are all certified by Petroleum Products Pricing Regulatory Agency (PPPRA).
She said the reconciliation committees called for backup documents to enable it verify the certified papers.
“Our judgment is that a proper examination of these documents requires technical expertise beyond the capacity of the reconciliation team.
“Therefore, we believe we should have an independent forensic audit to manage these submissions,” she said
She said that the 20 billion dollars alleged by the CBN as missing featured in the original reconciliation effort in the cascade presented by NNPC.
She said that the committee agreed that the issues surrounding the alleged fund was legal and required careful legal interpretation.
Earlier, the chairman of the committee, Ahmed Makarafi, had charged reconciliation group to carry out the forensic audit and get back to the committee in one month.
He said that the committee would reconvene on Feb. 20 to enable the Attorney General of Federation to give a legal advice on the issue. (NAN)
- See more at: http://www.vanguardngr.com/2014/02/missing-20-bn-cbn-okonjo-iweala-calls-forensic-audit/#sthash.hZmWAFpG.OlUtBNCv.dpuf
Okonjo-Iweala made the call at the Senate Committee on Finance hearing on the alleged missing 20 billion dollars.
The News Agency of Nigeria (NAN) reports that Minister of Petroleum, Mrs Deizani Alison-Madueke, was also at the hearing.
Also at the hearing were NNPC Group Managing Director, Mr Andrew Yakubu, and CBN Governor, Mallam Lamido Sanusi.
“Let us now focus on the original 10. 8 billion dollars which was the shortfall we had as at July 2013.
“Another reconciliation meeting was held at which NNPC presented data of how they utilised the balance of 10. 8 billion.
“This includes amount withheld for subsidy 8. 76 billion dollars, holding cost of strategic reserve 0. 4599 billion and pipeline crude oil and product losses of 0. 761 billion.
There was also pipeline management at the cost of 0. 905 billion dollars,” she said.
According to her, the data presented are all certified by Petroleum Products Pricing Regulatory Agency (PPPRA).
She said the reconciliation committees called for backup documents to enable it verify the certified papers.
“Our judgment is that a proper examination of these documents requires technical expertise beyond the capacity of the reconciliation team.
“Therefore, we believe we should have an independent forensic audit to manage these submissions,” she said
She said that the 20 billion dollars alleged by the CBN as missing featured in the original reconciliation effort in the cascade presented by NNPC.
She said that the committee agreed that the issues surrounding the alleged fund was legal and required careful legal interpretation.
Earlier, the chairman of the committee, Ahmed Makarafi, had charged reconciliation group to carry out the forensic audit and get back to the committee in one month.
He said that the committee would reconvene on Feb. 20 to enable the Attorney General of Federation to give a legal advice on the issue. (NAN)
- See more at: http://www.vanguardngr.com/2014/02/missing-20-bn-cbn-okonjo-iweala-calls-forensic-audit/#sthash.hZmWAFpG.OlUtBNCv.dpuf
“Missing” $20 bn CBN: Okonjo-Iweala calls for forensic audit
The
Coordinating Minister for the Economy, Dr Ngozi Okonjo-Iweala, on
Thursday in Abuja called for independent forensic audit to resolve the
puzzle over unremitted funds to the CBN.
Okonjo-Iweala made the call at the Senate Committee on Finance hearing on the alleged missing 20 billion dollars.
The News Agency of Nigeria (NAN) reports that Minister of Petroleum, Mrs Deizani Alison-Madueke, was also at the hearing.
Also at the hearing were NNPC Group Managing Director, Mr Andrew Yakubu, and CBN Governor, Mallam Lamido Sanusi.
“Let us now focus on the original 10. 8 billion dollars which was the shortfall we had as at July 2013.
“Another reconciliation meeting was held at which NNPC presented data of how they utilised the balance of 10. 8 billion.
“This includes amount withheld for subsidy 8. 76 billion dollars, holding cost of strategic reserve 0. 4599 billion and pipeline crude oil and product losses of 0. 761 billion.
There was also pipeline management at the cost of 0. 905 billion dollars,” she said.
According to her, the data presented are all certified by Petroleum Products Pricing Regulatory Agency (PPPRA).
She said the reconciliation committees called for backup documents to enable it verify the certified papers.
“Our judgment is that a proper examination of these documents requires technical expertise beyond the capacity of the reconciliation team.
“Therefore, we believe we should have an independent forensic audit to manage these submissions,” she said
She said that the 20 billion dollars alleged by the CBN as missing featured in the original reconciliation effort in the cascade presented by NNPC.
She said that the committee agreed that the issues surrounding the alleged fund was legal and required careful legal interpretation.
Earlier, the chairman of the committee, Ahmed Makarafi, had charged reconciliation group to carry out the forensic audit and get back to the committee in one month.
He said that the committee would reconvene on Feb. 20 to enable the Attorney General of Federation to give a legal advice on the issue. (NAN)
Okonjo-Iweala made the call at the Senate Committee on Finance hearing on the alleged missing 20 billion dollars.
The News Agency of Nigeria (NAN) reports that Minister of Petroleum, Mrs Deizani Alison-Madueke, was also at the hearing.
Also at the hearing were NNPC Group Managing Director, Mr Andrew Yakubu, and CBN Governor, Mallam Lamido Sanusi.
“Let us now focus on the original 10. 8 billion dollars which was the shortfall we had as at July 2013.
“Another reconciliation meeting was held at which NNPC presented data of how they utilised the balance of 10. 8 billion.
“This includes amount withheld for subsidy 8. 76 billion dollars, holding cost of strategic reserve 0. 4599 billion and pipeline crude oil and product losses of 0. 761 billion.
There was also pipeline management at the cost of 0. 905 billion dollars,” she said.
According to her, the data presented are all certified by Petroleum Products Pricing Regulatory Agency (PPPRA).
She said the reconciliation committees called for backup documents to enable it verify the certified papers.
“Our judgment is that a proper examination of these documents requires technical expertise beyond the capacity of the reconciliation team.
“Therefore, we believe we should have an independent forensic audit to manage these submissions,” she said
She said that the 20 billion dollars alleged by the CBN as missing featured in the original reconciliation effort in the cascade presented by NNPC.
She said that the committee agreed that the issues surrounding the alleged fund was legal and required careful legal interpretation.
Earlier, the chairman of the committee, Ahmed Makarafi, had charged reconciliation group to carry out the forensic audit and get back to the committee in one month.
He said that the committee would reconvene on Feb. 20 to enable the Attorney General of Federation to give a legal advice on the issue. (NAN)
“Missing” $20 bn CBN: Okonjo-Iweala calls for forensic audit
The
Coordinating Minister for the Economy, Dr Ngozi Okonjo-Iweala, on
Thursday in Abuja called for independent forensic audit to resolve the
puzzle over unremitted funds to the CBN.
Okonjo-Iweala made the call at the Senate Committee on Finance hearing on the alleged missing 20 billion dollars.
The News Agency of Nigeria (NAN) reports that Minister of Petroleum, Mrs Deizani Alison-Madueke, was also at the hearing.
Also at the hearing were NNPC Group Managing Director, Mr Andrew Yakubu, and CBN Governor, Mallam Lamido Sanusi.
“Let us now focus on the original 10. 8 billion dollars which was the shortfall we had as at July 2013.
“Another reconciliation meeting was held at which NNPC presented data of how they utilised the balance of 10. 8 billion.
“This includes amount withheld for subsidy 8. 76 billion dollars, holding cost of strategic reserve 0. 4599 billion and pipeline crude oil and product losses of 0. 761 billion.
There was also pipeline management at the cost of 0. 905 billion dollars,” she said.
According to her, the data presented are all certified by Petroleum Products Pricing Regulatory Agency (PPPRA).
She said the reconciliation committees called for backup documents to enable it verify the certified papers.
“Our judgment is that a proper examination of these documents requires technical expertise beyond the capacity of the reconciliation team.
“Therefore, we believe we should have an independent forensic audit to manage these submissions,” she said
She said that the 20 billion dollars alleged by the CBN as missing featured in the original reconciliation effort in the cascade presented by NNPC.
She said that the committee agreed that the issues surrounding the alleged fund was legal and required careful legal interpretation.
Earlier, the chairman of the committee, Ahmed Makarafi, had charged reconciliation group to carry out the forensic audit and get back to the committee in one month.
He said that the committee would reconvene on Feb. 20 to enable the Attorney General of Federation to give a legal advice on the issue. (NAN)
Okonjo-Iweala made the call at the Senate Committee on Finance hearing on the alleged missing 20 billion dollars.
The News Agency of Nigeria (NAN) reports that Minister of Petroleum, Mrs Deizani Alison-Madueke, was also at the hearing.
Also at the hearing were NNPC Group Managing Director, Mr Andrew Yakubu, and CBN Governor, Mallam Lamido Sanusi.
“Let us now focus on the original 10. 8 billion dollars which was the shortfall we had as at July 2013.
“Another reconciliation meeting was held at which NNPC presented data of how they utilised the balance of 10. 8 billion.
“This includes amount withheld for subsidy 8. 76 billion dollars, holding cost of strategic reserve 0. 4599 billion and pipeline crude oil and product losses of 0. 761 billion.
There was also pipeline management at the cost of 0. 905 billion dollars,” she said.
According to her, the data presented are all certified by Petroleum Products Pricing Regulatory Agency (PPPRA).
She said the reconciliation committees called for backup documents to enable it verify the certified papers.
“Our judgment is that a proper examination of these documents requires technical expertise beyond the capacity of the reconciliation team.
“Therefore, we believe we should have an independent forensic audit to manage these submissions,” she said
She said that the 20 billion dollars alleged by the CBN as missing featured in the original reconciliation effort in the cascade presented by NNPC.
She said that the committee agreed that the issues surrounding the alleged fund was legal and required careful legal interpretation.
Earlier, the chairman of the committee, Ahmed Makarafi, had charged reconciliation group to carry out the forensic audit and get back to the committee in one month.
He said that the committee would reconvene on Feb. 20 to enable the Attorney General of Federation to give a legal advice on the issue. (NAN)
“Missing” $20 bn CBN: Okonjo-Iweala calls for forensic audit
The
Coordinating Minister for the Economy, Dr Ngozi Okonjo-Iweala, on
Thursday in Abuja called for independent forensic audit to resolve the
puzzle over unremitted funds to the CBN.
Okonjo-Iweala made the call at the Senate Committee on Finance hearing on the alleged missing 20 billion dollars.
The News Agency of Nigeria (NAN) reports that Minister of Petroleum, Mrs Deizani Alison-Madueke, was also at the hearing.
Also at the hearing were NNPC Group Managing Director, Mr Andrew Yakubu, and CBN Governor, Mallam Lamido Sanusi.
“Let us now focus on the original 10. 8 billion dollars which was the shortfall we had as at July 2013.
“Another reconciliation meeting was held at which NNPC presented data of how they utilised the balance of 10. 8 billion.
“This includes amount withheld for subsidy 8. 76 billion dollars, holding cost of strategic reserve 0. 4599 billion and pipeline crude oil and product losses of 0. 761 billion.
There was also pipeline management at the cost of 0. 905 billion dollars,” she said.
According to her, the data presented are all certified by Petroleum Products Pricing Regulatory Agency (PPPRA).
She said the reconciliation committees called for backup documents to enable it verify the certified papers.
“Our judgment is that a proper examination of these documents requires technical expertise beyond the capacity of the reconciliation team.
“Therefore, we believe we should have an independent forensic audit to manage these submissions,” she said
She said that the 20 billion dollars alleged by the CBN as missing featured in the original reconciliation effort in the cascade presented by NNPC.
She said that the committee agreed that the issues surrounding the alleged fund was legal and required careful legal interpretation.
Earlier, the chairman of the committee, Ahmed Makarafi, had charged reconciliation group to carry out the forensic audit and get back to the committee in one month.
He said that the committee would reconvene on Feb. 20 to enable the Attorney General of Federation to give a legal advice on the issue. (NAN)
Okonjo-Iweala made the call at the Senate Committee on Finance hearing on the alleged missing 20 billion dollars.
The News Agency of Nigeria (NAN) reports that Minister of Petroleum, Mrs Deizani Alison-Madueke, was also at the hearing.
Also at the hearing were NNPC Group Managing Director, Mr Andrew Yakubu, and CBN Governor, Mallam Lamido Sanusi.
“Let us now focus on the original 10. 8 billion dollars which was the shortfall we had as at July 2013.
“Another reconciliation meeting was held at which NNPC presented data of how they utilised the balance of 10. 8 billion.
“This includes amount withheld for subsidy 8. 76 billion dollars, holding cost of strategic reserve 0. 4599 billion and pipeline crude oil and product losses of 0. 761 billion.
There was also pipeline management at the cost of 0. 905 billion dollars,” she said.
According to her, the data presented are all certified by Petroleum Products Pricing Regulatory Agency (PPPRA).
She said the reconciliation committees called for backup documents to enable it verify the certified papers.
“Our judgment is that a proper examination of these documents requires technical expertise beyond the capacity of the reconciliation team.
“Therefore, we believe we should have an independent forensic audit to manage these submissions,” she said
She said that the 20 billion dollars alleged by the CBN as missing featured in the original reconciliation effort in the cascade presented by NNPC.
She said that the committee agreed that the issues surrounding the alleged fund was legal and required careful legal interpretation.
Earlier, the chairman of the committee, Ahmed Makarafi, had charged reconciliation group to carry out the forensic audit and get back to the committee in one month.
He said that the committee would reconvene on Feb. 20 to enable the Attorney General of Federation to give a legal advice on the issue. (NAN)
“Missing” $20 bn CBN: Okonjo-Iweala calls for forensic audit
The
Coordinating Minister for the Economy, Dr Ngozi Okonjo-Iweala, on
Thursday in Abuja called for independent forensic audit to resolve the
puzzle over unremitted funds to the CBN.
Okonjo-Iweala made the call at the Senate Committee on Finance hearing on the alleged missing 20 billion dollars.
The News Agency of Nigeria (NAN) reports that Minister of Petroleum, Mrs Deizani Alison-Madueke, was also at the hearing.
Also at the hearing were NNPC Group Managing Director, Mr Andrew Yakubu, and CBN Governor, Mallam Lamido Sanusi.
“Let us now focus on the original 10. 8 billion dollars which was the shortfall we had as at July 2013.
“Another reconciliation meeting was held at which NNPC presented data of how they utilised the balance of 10. 8 billion.
“This includes amount withheld for subsidy 8. 76 billion dollars, holding cost of strategic reserve 0. 4599 billion and pipeline crude oil and product losses of 0. 761 billion.
There was also pipeline management at the cost of 0. 905 billion dollars,” she said.
According to her, the data presented are all certified by Petroleum Products Pricing Regulatory Agency (PPPRA).
She said the reconciliation committees called for backup documents to enable it verify the certified papers.
“Our judgment is that a proper examination of these documents requires technical expertise beyond the capacity of the reconciliation team.
“Therefore, we believe we should have an independent forensic audit to manage these submissions,” she said
She said that the 20 billion dollars alleged by the CBN as missing featured in the original reconciliation effort in the cascade presented by NNPC.
She said that the committee agreed that the issues surrounding the alleged fund was legal and required careful legal interpretation.
Earlier, the chairman of the committee, Ahmed Makarafi, had charged reconciliation group to carry out the forensic audit and get back to the committee in one month.
He said that the committee would reconvene on Feb. 20 to enable the Attorney General of Federation to give a legal advice on the issue. (NAN)
Okonjo-Iweala made the call at the Senate Committee on Finance hearing on the alleged missing 20 billion dollars.
The News Agency of Nigeria (NAN) reports that Minister of Petroleum, Mrs Deizani Alison-Madueke, was also at the hearing.
Also at the hearing were NNPC Group Managing Director, Mr Andrew Yakubu, and CBN Governor, Mallam Lamido Sanusi.
“Let us now focus on the original 10. 8 billion dollars which was the shortfall we had as at July 2013.
“Another reconciliation meeting was held at which NNPC presented data of how they utilised the balance of 10. 8 billion.
“This includes amount withheld for subsidy 8. 76 billion dollars, holding cost of strategic reserve 0. 4599 billion and pipeline crude oil and product losses of 0. 761 billion.
There was also pipeline management at the cost of 0. 905 billion dollars,” she said.
According to her, the data presented are all certified by Petroleum Products Pricing Regulatory Agency (PPPRA).
She said the reconciliation committees called for backup documents to enable it verify the certified papers.
“Our judgment is that a proper examination of these documents requires technical expertise beyond the capacity of the reconciliation team.
“Therefore, we believe we should have an independent forensic audit to manage these submissions,” she said
She said that the 20 billion dollars alleged by the CBN as missing featured in the original reconciliation effort in the cascade presented by NNPC.
She said that the committee agreed that the issues surrounding the alleged fund was legal and required careful legal interpretation.
Earlier, the chairman of the committee, Ahmed Makarafi, had charged reconciliation group to carry out the forensic audit and get back to the committee in one month.
He said that the committee would reconvene on Feb. 20 to enable the Attorney General of Federation to give a legal advice on the issue. (NAN)
The
Coordinating Minister for the Economy, Dr Ngozi Okonjo-Iweala, on
Thursday in Abuja called for independent forensic audit to resolve the
puzzle over unremitted funds to the CBN.
Okonjo-Iweala made the call at the Senate Committee on Finance hearing on the alleged missing 20 billion dollars.
The News Agency of Nigeria (NAN) reports that Minister of Petroleum, Mrs Deizani Alison-Madueke, was also at the hearing.
Also at the hearing were NNPC Group Managing Director, Mr Andrew Yakubu, and CBN Governor, Mallam Lamido Sanusi.
“Let us now focus on the original 10. 8 billion dollars which was the shortfall we had as at July 2013.
“Another reconciliation meeting was held at which NNPC presented data of how they utilised the balance of 10. 8 billion.
“This includes amount withheld for subsidy 8. 76 billion dollars, holding cost of strategic reserve 0. 4599 billion and pipeline crude oil and product losses of 0. 761 billion.
There was also pipeline management at the cost of 0. 905 billion dollars,” she said.
According to her, the data presented are all certified by Petroleum Products Pricing Regulatory Agency (PPPRA).
She said the reconciliation committees called for backup documents to enable it verify the certified papers.
“Our judgment is that a proper examination of these documents requires technical expertise beyond the capacity of the reconciliation team.
“Therefore, we believe we should have an independent forensic audit to manage these submissions,” she said
She said that the 20 billion dollars alleged by the CBN as missing featured in the original reconciliation effort in the cascade presented by NNPC.
She said that the committee agreed that the issues surrounding the alleged fund was legal and required careful legal interpretation.
Earlier, the chairman of the committee, Ahmed Makarafi, had charged reconciliation group to carry out the forensic audit and get back to the committee in one month.
He said that the committee would reconvene on Feb. 20 to enable the Attorney General of Federation to give a legal advice on the issue. (NAN)
- See more at: http://www.vanguardngr.com/2014/02/missing-20-bn-cbn-okonjo-iweala-calls-forensic-audit/#sthash.hZmWAFpG.OlUtBNCv.dpuf
Okonjo-Iweala made the call at the Senate Committee on Finance hearing on the alleged missing 20 billion dollars.
The News Agency of Nigeria (NAN) reports that Minister of Petroleum, Mrs Deizani Alison-Madueke, was also at the hearing.
Also at the hearing were NNPC Group Managing Director, Mr Andrew Yakubu, and CBN Governor, Mallam Lamido Sanusi.
“Let us now focus on the original 10. 8 billion dollars which was the shortfall we had as at July 2013.
“Another reconciliation meeting was held at which NNPC presented data of how they utilised the balance of 10. 8 billion.
“This includes amount withheld for subsidy 8. 76 billion dollars, holding cost of strategic reserve 0. 4599 billion and pipeline crude oil and product losses of 0. 761 billion.
There was also pipeline management at the cost of 0. 905 billion dollars,” she said.
According to her, the data presented are all certified by Petroleum Products Pricing Regulatory Agency (PPPRA).
She said the reconciliation committees called for backup documents to enable it verify the certified papers.
“Our judgment is that a proper examination of these documents requires technical expertise beyond the capacity of the reconciliation team.
“Therefore, we believe we should have an independent forensic audit to manage these submissions,” she said
She said that the 20 billion dollars alleged by the CBN as missing featured in the original reconciliation effort in the cascade presented by NNPC.
She said that the committee agreed that the issues surrounding the alleged fund was legal and required careful legal interpretation.
Earlier, the chairman of the committee, Ahmed Makarafi, had charged reconciliation group to carry out the forensic audit and get back to the committee in one month.
He said that the committee would reconvene on Feb. 20 to enable the Attorney General of Federation to give a legal advice on the issue. (NAN)
- See more at: http://www.vanguardngr.com/2014/02/missing-20-bn-cbn-okonjo-iweala-calls-forensic-audit/#sthash.hZmWAFpG.OlUtBNCv.dpuf
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