Skip to main content

Pres. Jonathan Receives Forensic Audit on NNPC | Says No Cause for Alarm

pwc1
President Jonathan receiving the forensic audit report of finances in NNPC by PricewaterhouseCoopers
President Goodluck Jonathan on Monday in Abuja received the Forensic Audit report on the Nigerian National Petroleum Corporation (NNPC) from the international auditing firm, PricewaterhouseCoopers.
He said that the report would help to address the lapses in the oil industry and help the administration to address the misconceptions in the industry.
“The figures being branded in the newspapers are ones that Nigerians will be interested in.
“Indeed, you mentioned the issue of the reforms in the sector.
“Everybody knows that the sector needs to be reformed and I believe that by the time we go through the petroleum industry bill and make it a law, most of these lapses would be corrected and the misconceptions will be properly addressed by the different administrative structures.
“I thank you for what you have done. It will help us, it will help this country to set things right. We will handle it decisively based on the information that we have.
“Based on the preliminary information, Nigerians need not be so scared about the kind of stories that we hear.’’
The president, however, directed the Auditor-General of the Federation, Samuel Ukura, to look into the report and release major findings to the government within the week.
He also told him to liaise with the firm to clear any grey areas in the report.
President Jonathan thanked the audit firm for turning in the report on time and for clarifying the issues in the petroleum ministry.
He observed that both chambers of the National Assembly had delved into the matter in the past; and that with the report, the issue of leakages in the petroleum industry would be laid to rest.
The president said that the kind of figures mentioned in the newspapers “looked so ridiculous”, noting that they were figures that he could not imagine the country earned.
“I am quite pleased that you have taken a forensic audit. I will give it to the professionals, the auditor-general of the federation, so that within the week we will get the key findings,” the president said.
He described the report as “a precious document’’ which could be used as future reference material to improve operations in the oil industry and for academic purposes.
Uyi Akpata, the Senior Partner of the consultants, while submitting the report, said the group was privileged to be nominated for the auditing assignment.
He said the firm expected the government would find the report useful in the reforms in the petroleum sector.
The report was carried out by the PricewaterhouseCoopers, following reports of the controversy of leakages in the petroleum ministry.

Comments

Popular posts from this blog

The Rich Kids of Russia: Instagram mocks the children of oligarchs photographed posing beside luxury golden cars, mansions and private jets

An anonymous Instagram account revealing the lifestyles of the rich children of Russian oligarchs has become an internet sensation. The biography of the anonymous profile says it is dedicated to documenting the lives of the kids from Russia growing up in luxury.  The account specializes in collecting photos of rich Russian kids that they post online themselves, with everything from luxury cars through to selfies with expensive cars, boats or famous people.

$2million raised by Spark Internet Group

Jason Njoku, Bastian Gotter and Mary Remmy-Njoku launched Spark, the Lagos-based Internet Group that invests in Nigerian start-ups, a few months back. (If you missed it, read it HERE). They launched with a $1m investment fund and have just announced that due to huge interest in their company, they have secured another $2million from a pool of 17 international high net individual investors, based on a $10m valuation for the three month old company. It seems that the world now firmly has its eyes on Nigeria for exciting Internet companies to invest in!

Spark companies employ 130 people across the nine launched companies in Lagos, three of which have already secured second-round seed investments totaling an additional $700k from Njoku and Gotter. Continue...

Spark’s goal is to revolutionize Nigeria’s angel investment eco-system, focusing on the country’s Internet startup scene.   In an official press release, Jason Njoku of iROKOtv fame says: “Every Spark company we have invested in alread…

THE MAN PETER MBAH

Peter Mbah was born on the 17th, March 1972
He started his primary education in 1978. He attended the Army Children School, Bori Camp, Port Harcourt where he obtained his 1st School Leaving Certificate in 1984. In the same year, he proceeded to Owode High School, Owode Egba, Ogun State and in 1990, he graduated with a Senior Secondary Certificate in Education (SSCE) (O’Levels).
An adventurous Mbah obtained a Certificate in German as Foreign Language from the VolkHoch Schule, Recklinghausen, Germany in 1992. Between 1997 and year 2000, he attended the University of East London, United Kingdom where he graduated as a lawyer (.L.L.B (Hons)) with a Second Class Upper Division. While at the School, Mbah was an outstanding President of the Student Law Society (1998-1999). During his tenure, the association won the Students Union’s prize and certificate of achievement for the “Most Productive Society of the Year”.