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NNPC accuses Sanusi of mixing up figures on alleged missing $20b


Sanusi Lamido

Sanusi Lamido

AGAIN, the Nigerian National Petroleum Corporation (NNPC) has accused former Central Bank Governor and Emir of Kano, Sanusi Lamido of always mixing up figures on the alleged missing $20billion oil money.

In a statement yesterday in Abuja, the NNPC posited that Sanusi, against the findings of the Senate Committee on Finance and PricewaterhouseCoopers (PwC), has continued his unabated false allegation of unremitted $20billion oil revenue against the corporation, claiming that the issues surrounding his allegation have not been adequately addressed.

NNPC stated that the respected traditional ruler has got it wrong again in much the same way his failure to grasp the issues of remittances to the Federation Account led him into the embarrassing error of alleging that NNPC failed to remit $49.8billion oil revenue into the Federation Account, an allegation which has since been proved to be false even by his own account.

The statement read in part: “Our attention has been drawn to the latest gambit of the former CBN governor and Emir of Kano, Muhammadu Sanusi, to reinvent the wheel of his false allegations against the NNPC by insisting, during an interview with Christiane Amanpour of the Cable News Network (CNN), that the issues surrounding his allegation of unremitted $20bn have not been adequately addressed.

“According to the royal father, ‘One of them (issues) is the billions of dollars being paid in kerosene subsidies without appropriation by the National Assembly and against a presidential order and we don’t know who authorized those payments and yet no one has owned up to say I authorized the payments, I made a mistake’. “But it is on record that he (as CBN Governor) attended the hearings of the Senate Committee on Finance where the issue of kerosene subsidy was exhaustively looked at vis-à-vis the presidential memo directing the removal of kerosene subsidy.

The explanation was that the process of implementing the presidential directive was not followed through by the Minister of Petroleum Resources at that time as required by law which technically meant that kerosene subsidy was not removed.

It was on the basis of this that the Senate Committee on Finance in its report recommended that the executive should prepare and present to the National Assembly a supplementary budget ‘to cover the expenditure in the sum of N90.6billion for PMS (premium motor spirit) subsidy 2012 and N685.9billion for kerosene subsidy expended without appropriation by the National Assembly’.

“PricewaterhouseCoopers (PwC) also observed in its recent forensic audit report thus: ‘Regarding the issue of subsidy on DPK (kerosene), the Presidential Directive of 19 October, 2009, was not gazetted and there is no other legal instrument cancelling the subsidy on DPK. The Senate Committee had also concluded that all that was now required was for the FGN to propose appropriation for the un-appropriated subsidy for the period in a supplemental budget’.

“We are therefore at a loss as to what Sanusi meant by his statement that issues surrounding his allegation of unremitted $20billion, especially regarding kerosene subsidy, have not been adequately addressed.

“It would be recalled that Sanusi began his campaign of calumny against the corporation with a false alarm that it failed to remit a whopping $49.8billion being proceeds of crude oil sales into the Federation Account. “Upon reconciliation of the figures with relevant agencies whereupon it was discovered that the balance of unremitted oil revenue was actually the amount spent by the corporation on its operations in accordance with the law (NNPC Act), Sanusi began to play games with figures submitting at various times that $10.8billion, $12, and $20billion was what was unremitted by the corporation.

“Both the Senate Committee on Finance and PricewaterhouseCoopers have investigated the allegations and came out with reports exonerating the Corporation. “Why the royal father appears hell-bent on hanging a tag of corruption on the corporation even when all the inquiries into his allegation of unremitted funds have proved otherwise remains a mystery to us.

“But we believe that his royal dignity will be best served and preserved if he owns up to his error of raising false allegation and apologize for same rather than continue in error believing that if he continues to harp on his false allegation it will someday be accepted as the truth.”

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  • Ogunyejo Afeez

    All these statement was uttered just to prove themselve innocent

  • Vivian

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  • Ed

    Minister of petroleum should release the Pricewatercooper forensic audit report. Nigerian should be able to see how is right and how is wrong. NNPC is infested with endless corruption that is a given.
    Sanusi first figures were not wrong, when you factors in the undefined third party. The third party were hole for which $billions of Oil moey end up back in politicians pocket. You can see $ on display now by the president.
    Please stop insulting Nigerian by your license to steal.

    • Joan Ofili

      I expect you to query the authenticity of the NNPC claim with facts.

  • Daniel Johnson

    Sanusi is a confused man.

  • Duro Oguntebi

    If the government is so convinced that this issue has been resolved by the audit performed by Pricewatercooper why can they not release the whole report of the audit for the world to examine? Do they think there are no other auditing firms in Nigeria or the rest of the world who are qualified to assess the validity of the audit?

  • Fidel98

    sanusi suppose to be in jail by now but because he was not jailed before now he has continued to lie to the world on what has long been proved lie.Two different bodies conducted the probes about Sanusi’s allegation and no one agreed with his allegations yet he continued.