Audit report indicts NNPC, corporation to refund $1.48billion

The forensic audit conducted by the audit firm of PriceWaterHouseCoopers on behalf of the Federal Government on the operations of the Nigerian National Petroleum Corporation [NNPC] has indicted the management of the national oil company for various questionable transactions.

Part of the recommendations include that the Nigerian Petroleum Development Company, NPDC, the upstream subsidy of the NNPC should refund about $1.48billion to the Federation Account for various unreconciled transactions.

More details of report to come.

President Goodluck Jonathan had on Monday publicly received the report a day after a former Governor of the Central Bank of Nigeria [CBN], Chukwuma Soludo, wrote a long, acerbic article accusing the managers of the Nigerian economy of misappropriating over N30trillion of public funds, including several billions in oil money.

The forensic audit was commissioned following allegation by the immediate past Governor of the CBN, Lamido Sanusi, that about $20 billion oil money was missing from the NNPC.

The Presidency had on March 12, 2014 announced, through a statement by the president’s spokesperson, Reuben Abati, that it had authorised the engagement of reputable international firms to carry out the forensic audit of the accounts of the NNPC.

The allegation that the huge amount had been stolen was raised in 2013 by a former governor of the Central Bank of Nigeria, Lamido Sanusi, who is now the Emir of Kano.

Mr. Sanusi said as much as $49 billion was diverted by state oil company, Nigerian National Petroleum Corporation, NNPC.

He later reviewed the amount to $20 billion, and called for investigations after writing to President Goodluck Jonathan.

A Senate probe into the allegation yielded no result. Mr. Sanusi was later fired by President Jonathan after he was accused of “financial recklessness”.

The government said no money was missing, but promised a forensic investigation of NNPC.

In April 2014, the Minister of Finance, Ngozi Okonjo-Iweala, announced the appointment of the accounting firm, PriceWaterHouseCoopers (PwC), to conduct a detailed investigation into the accounts and activities of NNPC.

The minister said the investigation, under the supervision of the Office of the Auditor-General of the Federation, would take about 16 weeks.

That schedule meant at most by September 2014 ending, the report should have been ready. A two-month delay meant the report should have been ready by November.

But the government only publicly received the report on Monday.

More to come…


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  • Spoken word

    very silly report. just usd1.48 billion is missing. Diezani will be laughing. she can write a personal cheque for that amount.

    • John

      How much did you expect to be missing, dear brother? We should have protested the appointment of the accounting firm, PriceWaterHouseCoopers (PwC), to investigate the accounts and activities of NNPC if we don’t trust them. But because we didn’t refuse them, lets simply accept whatever they have come up with and leave the rest for God to judge. One thing I’m certain of is that none of these people who are amassing much wealth and impoverishing Nigeria will leave here on earth forever. We all must die. May God bless and save Nigeria.

    • Chris1408

      Rightly said, she’s smiling on GEJ bed right, calling Nigerians Mumu

    • arewethishopeless

      Don’t worry. Buhari will show them how an audit is done before the end of this year …

      Alison, we are also laughing in advance …

  • Frank Bassey

    NNPC and subsidiaries to refund $1,48 UNRECONCILED TRANSACTIONS. Where is the missing $20 billion?

  • Mr. Abdin

    I don’ think this is true the money could be more than that.

  • Advocate

    SINCE WHEN IS $1.48BN SMALL MONEY? THAT IS ABOUT N2,800,000,000,000.00NAIRA

    • G4

      Please check your maths, $1.48BN is roughly N320Bn at 210 exchange rate (320,000,000,000) not 2.8 trillion

  • Godfrey Etokebe

    We Nigerians must learn to trust Our intelligence. This report has proven the senate right. May God forgive the antagonist of GEJ and the Nigerian State!!!

  • Screw-em

    No one expected the report to unearth any new information. Spread-em EAGLE Diezani knows how to hide her eggs. The $1.48 should be multiplied by 20 giving us a close haul of about $ 30 billion….Soludo’s numbers……Election is around the next bend…lol…Sai BUHARI!!!!

    • D1

      Lol!

      • Screw-em

        @ D1, I should have included “between the sheets” wink! wink!!… to add to everyone’s disgust and amusement. unfortunately, this is how low we have descended as a nation. My choice is Cristal clear come Valentines day…..Je suis BUHARI!!

  • Eze1

    Just $1.48billion, that is not thorough enough…. As far as I am concerned $20billion is missing

  • Chris1408

    Real insult, miserly $1.48b from more than $30b stolen. GEJ is truly corrupt to his marrow. May his likes never be close to the seat of power ever again

    • Freedom

      Ameen! Ameen!! Ameen!!!

    • MrFesh+Ifebuche+Paschal

      Help yourself by getting help. So GEJ has bought over a world renowned a counting form abi?
      Anyway anything that makes you sleep at night. You have been lied to so much that real things are unbelievable.

  • Mamtech

    PriceWaterHouseCoopers this is Rubbish even GEJ & Minister of Finance admitted that $10 billion are missing; unless you want to tell us this is additional amount.

    • MrFesh+Ifebuche+Paschal

      There’s a difference between unreconciled and missing. That’s where we get it all wrong.

  • Harry

    This report is not authentic, Buhari/Osinbajo government will do a proper auditing with a different firm. PriceWaterHouseCoopers has been compromised by GEJ government.

  • Gideon Orkar

    APC wont be happy with this at all!!

  • harry

    The amount has been tempered,they should publish the report so that we all can see and investigate it.i am sure that what is missing is far more than that,they reduce the figure so as not to heat up the polity. i am very sure that they have tempered with the total amount missing,if not,why did it take this long for them to finally tell us about the audit? we want the report to be published so that every one can go through it and see the missing gap

    • MrFesh+Ifebuche+Paschal

      We are talking PricewaterCoopers. Are they PDP too?

      • Wähala

        Publish their report instead of this redacted rubbish… that’s what harry is saying, allow Nigerian to read it.

        • MrFesh+Ifebuche+Paschal

          You will see the report.
          Don’t be faster than your shadow.
          You think it is a 10page or 50, perhaps a hundred page report?

          • Wähala

            Shut-up idyiot… I’ve already seen half of it and it’s at least 10 volumes thick. Monkey, I have deep contacts at the MoF that you can never imagine, go sitdon!

          • MrFesh+Ifebuche+Paschal

            What’s your problem? Delusion or downright drunkenness? You have seen the volumes but then you want them to publish it. Where’s did you keep your brain after you got contacts?

  • emeka momegha

    why is the audit report coming out in a matter of days before election and they tell use that its $1.48Billion, that is not correct ,that is not correct (in jonathan’s voice). if so why is ngozi okonjo iweala tell us about austerity measures and that we would face tough times in 2015. why are we still borrowing money from other countries to fund projects. With all the money we make from oil we are not even meant to feel the symptoms of the oil drop in the country… this people should fear God.
    i pray that If buhari or any other presidential candidate (exception of jonathan) should carry out another audit report to confirm.

  • CuriousScholar

    1.4 billion or not, that amount can fund Nigeriea’s 2015 budget 60 times over. The question is who will take the fall for this? that is besides Sanusi

  • Jumoke

    This is only from page 1 of the report. Meanwhile this amount us more than the yearly budget of National Assembly. And we have a president who borrowed another $1billion after throwing away $1.4 billion. Real Port Harcourt Dumbo! That’s why saTAN was moving around Nigeria with other evil spirits campaigning for 4 more years for the looting supervised by a incompetent traveller in power.

    • kenny

      It is not good for people to be exposing their ignorance.

    • Wähala

      “Port Harcourt Dumbo!”…PhD indeed!
      Hahahaha chei… Respect for the cliché. Seeking permission to rephrase it elsewhere.

  • taewo

    This may have been a negotiated report to pacify the public that funds were stolen but not as much as $20 billion.

  • Shahokaya

    After all the editing , the report that was supposed to be submitted in August, a clear 6 months ago, has found the frogged eye led NNPC guilty of corruption. We will see wether with a week to the election if mr clueless will use the corporation as his fall guy.

    • kenny

      Who edited the report, you have no confidence in anybody except Buhari. Take the auditor to court then, or you wait till you win the election and appoint your auditor to carryout another investigation.

      • Shahokaya

        What was the report due in the past 6 months? What did you take in the morning?

        • kenny

          The auditors will be in the best position to answer that, many factors could be responsible for the delay.

  • Government magic. Like we had stated much earlier the PWC report is limited in scope to the terms of engagement given to the Forensic Accountants. These terms clould have been watered down significantly under the notion that most knotty areas have been resolved. The Senate in its wisdom did allude to about $250million being missing while PWC has increased it to $1.5billion.
    We have had numrous reports from the Nigerian Extractive Industries, KPMG and Nuhu Ribadu which are yet unimplemented.
    We have only succeeded in allowing the Government to waste our resources on these reports rather than waiting for February 14, 2015.

  • George Ager.A

    Ladies and Gentlemen it only says “part” Part of the recommendations include that the Nigerian Petroleum Development Company, NPDC, the upstream subsidy of the NNPC should refund about $1.48billion to the Federation Account for various unreconciled transactions.More details of report to come.

    We await!

  • Godfrey Etokebe

    No Money WAS or IS MISSING_PRICEWATER. APC must be scratching their heads!!!

  • asobode

    Nigeria is so corrupt that $1.48 billion looks so small. That’s over N300billion naira.

    • Godfrey Etokebe

      After the senate probe, the Money was reconciled. I hope that you have not forgotten.

      • blueeyedkitten

        the money was reconciled? where did they get the 1.48bn from?

  • Okey

    Jonathan, the only Nigerian leader to allow NNPC be investigated and report made public.

    • tundemash

      Indeed , after the man who had the courage to raise the dust was removed from his post for questioning NNPC / Denziani shady deals ?

      • Okey

        Sanusi’s was not the first removal. Hon. Halims Agoda who raised the motion for the then Minister Petroleum (OBJ) be investigated, was not allowed to return to the House of Reps. Ant the demand for audit died until now. Hope you were in Siberia all that while.

  • utolason

    For every one Naira the audit firm uncovered, there is nine Naira cleverly covered up. The $1.48 billion is the “Unreconciled” amount. It does not include unrecorded transactions and inflated expenditure.

  • tundemash

    Damage limitations !

  • Ken

    GEJ should be commended for allowing the audit.

    • tundemash

      Sounds like the Mexican drug cartel who chooses what judge to sit over his case and what prison he goes to !

      • Nanaa

        gbam!

      • blueeyedkitten

        yes! el cartel delos sapos

    • akin-uk

      He had no choice anyway the way things were/are going. This govt will be exposed for what it is and what it stands for – cluelessness & corruptin.

  • Mr Q

    What Nigerians need to request along with the audit report (whenever it is made available to the public) is the Audit terms of Reference which will spell out the scope agreed with the Investigators as this can very well be responsible for the difference between $20bn and $1.5bn. The Auditors can only do as much as what is agreed with the contracting party.

  • Nanaa

    We all know that this report has been heavily doctored! PWC pray hard that Jonathan should remain in power this 2015, cause if he dare fails (WHICH IS CERTAIN) you are going under. The original report was released over 3 months now by your foreign counterparts and your Nigerian counterparts have gone under ground to clean up the huge smelly poo found in the report, trust me karma is closer than you can ever imagine. $1.48billion my feet! so pissed!

  • blueeyedkitten

    this useless govt think they can buy our brains and votes with this crap and hurriedly assembled audit report?
    why didn’t they bring out the report until when soludo raised critical questions and submissions on the economy ala oil sector? if anything, this charade has only succeeded in portraying this govt as very unserious in the act of accountability and responsibility regarding public owned institutions. this, and so many other things are in line for quick fix before the upcoming election; that is why they are seeking for the postponement of the election to atone for their evil actions all through their forgettable tenure. we’re too sophisticated to buy into this bullsh!t. sai changeee dan ubanku!!!

  • Dan Arewa

    I don’t trust the audit as much as I don’t trust GEJ.

  • Abdullahi Adamu

    funny Nigerians…You think a company like PriceWaterHouseCoopers will collect bribe and compromise? Haba!why are some Nigerians that daft?

  • Lemmuel Odjay

    Here we go again… Yesterday, it was $49billion, then $20billion. Just this morning we are told it’s $1.48billion – it never rains but pours in PDP’s government house. Do these guys have any profession other than politics? Is/should politics be a profession? Why are they so scared of going back to their real jobs, if any, giving they are huge failures for politicians? ODE TO THE PDP POLITICIAN: “Bring-am. Share-am; Share-am. Bring-am; (that’s all). Bring-am. Share-am… tra la la la la. Ye paa!” (Repeat ad infinitum…

    • CONSCIENCE

      That is how far we have gone as a nation. A nation being ruled by gangsters and mafia.

  • Truthhurts

    Nigerian’s, be patient. The truth will always be revealed. Price Waterhouse Cooper is an international company. It has to adhere to strict international money laundering laws, it must disclose the scope of its audit and its summary and recommendations. Currently this report is politically bias to PDP (confirming corruption) and APC (insinuating only minor corruption). Corruption is stealing and under international law, money laundering carries stiff penalties. All parties will be made to account sooner or later, regardless of which polithieves win the Nigerian election. as I always say, all Nigeria needs is a benevolent dictator that will put the nation right, before it matures to be a true democracy.

  • warry

    Even the Senate said $200million yet to be remitted. So if Price water cooper says $1.48 billion yet to be remitted, hope those shouting all sorts of figures can rest now.

  • the truth

    Wow sanusi were is the 20 billion dollars. This shows we as nigerians should put hands with the government to stamp out all unpatriotic elements. We will survive.

    • Wähala

      Mumu,
      I million missing exonerates Sanusi…
      His strategy worked in pointing out that Aborigines have not been remitting all due funds to the federation account… Thinking is not for everyone indeed, some people like @the truth must be banned. Police detectives use bloated figures to set armed robbers against each other and reveal the real amount they stole… something obviously beyond you. Mumu, stop posting comments using my handle, folks have been alerting me to e-rats misusing my iconic name. Stop am o !!!

      • the truth

        u are a big goat, that your g*y brother sanusi lied is now a good thing. I see why u have openly supported boko haram without admonishing them. we as a nation will move forward. When u have transport money to visit nigeria let me know so we can see transformation from both the state and federal governments.

        • tundemash

          Mr. Career liar, you are a shameless creek rat . Sanusi lied by saying $20bn was missing and i guess you and Dumbo were right saying no money was missing. $1.4bn is mere stealing ba ?

    • tundemash

      I guess $1.4bn is mere stealing …..
      Cl0wn …… did and Dumbo not claim no money was missing ?

      • the truth

        GEJ never said money is not missing. As i said u stay abroad and get fed by your oluwole brothers with fake news. GEJ in a sit down with reporters said he would investigate the report and doubted how sanusi has been changing the figures missing.. Show me where gej said no money was missing? You are always fond of spitting lies lies lies. That is you, i am waiting for you to show me where gej said no money was missing

        • D1

          Sharrap! Stop polluting the air! Why are you keep making a nuisance of yourself?

          Are you not concerned that $1.48 billion is even missing at all? With the rubbish investigation by the senate, sitting in their chambers, investigating money in NNPC office!

          How can this happen under a sitting President that claim he is not clueless! This is an indictment on GEJ government, that he is INCOMPETENT, CLUELESS AND CORRUPT.

    • staaaaaaaaaaa

      you are just a failure like Jona. With all the investments of your teachers at school, just take a look at

      your written english!!!!!!!!!!

  • Wähala

    That figure cannot be true when even Dr. NOI said the amount missing is $10.8bn. This Govt. must make the “raw report” available so Nigerians are not misled by tidbits from the Accountant General of the Federation whom Dumbo commissioned to provide us with the “highlights of the report”. If this is the highlights, PWC should refund our money wasted on them since the coordinator of our economy could not reconcile a higher figure, or Dr. NOI must be sacked for “accounting recklessness” in misinforming Nigerians.

    • D1

      @Wähala, Since stealing is not corruption…a la GEJ. The $1.48 Billion is the amount that fell under corruption, we are still waiting for the real amount that was stolen.

      • staaaaaaaaaaa

        lol…. you be great brother, I like your comment.

    • the truth

      u have gone mad wahala. The other day u were praising jonathan and pdp on this same forum and today u are spinning words

      • Wähala

        PFooool… so that was you? See how easily you have tipped your hand? Goes to confirm what I’ve believed all along, that you are Reno Wendel Simlin Omokri, a career impersonator. Stop using my iconic handle to post pro-jona gibberish, my followers alerted me to your antics and I advised them to ignore you. Unfortunately for you, people know the difference betwee pork and beef albeit, they’re both red meat. Punk!

        • the truth

          u see why i strongly feel u are influenced by too much odeku. It is in your stock, Your stock is accusations and lies. I saw u post here saying u embrace pdp and u are twisting the whole saga saying i posted. How does someone post with your handle, or was your system hacked? questions questions questions

          • Wähala

            By using my handle name is what I mean and my strong suspicion remains you, Oleku and Otile… most like you, @Reno, or @Oleku who’s the only other faggot screwed-up enough to misbehave like a sissy. Cowards. Tell your gang my follwers recognize my grammar and no one can match my lyrics no matter how they try. Better still, ask Dumbo to pay me for my endorsement… then, wait eternity for it. Drunkards!

    • tundemash

      It’s like the Mexican drug cartel who chooses what judge to sit over his case and what prison he goes to !

      After May 29th, we shall institute a proper probe !

      • the truth

        You are a failure, a monumental failure not just to u, but to your family and most painfully nigeria. If u can call one of the top 3 firms in auditing in the whole world bias, then you need to check your head for a term called foolery.

        • tundemash

          You are d@ft …… pwc can only look at what is presented to them. Was the man who made the accusation allowed to take any presentaion hence my analogy of the Mexican drug cartel who chooses what judge to sit over his case and what prison he goes to !

          AU just told your mor0n to declare his assets PUBLICLY and Thabo Mbeki just told the world Nigeria is being raped yearly by your master looters.

        • CONSCIENCE

          Please leave this best company thing alone. Ngozi, Jonathan and Dezeani are mafia. They dictate the tune and pace. In the history of this country, I have never see this kind of figure manipulators.

          These foreign companies are also culprit in the mess Nigeria has found itself. Most foreign bank embrace siphoned money from our leaders and you are telling us about best whatever….

        • tundemash

          Thefailure is your cl0wn master Dumbo who has again been told by the Council of States to dare not postpone the election he’s jittery about .

      • CONSCIENCE

        Nice one!

    • Ette

      Guys the amount disclosed relates to NPDC which deals in oil production only. We are yet to be told how much NNPC the mother company stole. Sure by the time we have the full disclosure the amount will land AU figure of $40.6b.

      • Wähala

        You have made a valid point… Respect!

        • Otile

          Yeye, idiotic Yoruba man faking Igbo, why not respect yourself first? Why do you go about insulting every Igbo person whenever you scribble your nonsense? May Shango your god fire your stinky ass. Yeye omo ale.

    • Otile

      Do you have to stick your rotten nose in every discussion? It is disgusting how a Yoruba conman like you fake Igbo identity to get by. Shame on you.

  • the truth

    Some Nigerians are repugnant. This firm is an internationally acclaimed auditing company with excellence awards to show for their steadfastness and high repute. Now so many commentators on this forum are doubting this report, what do we want as a nation. so many people are shouting this report is false because it does not favor them. Even if God comes down to do an audit and it doesn’t favor infidels and saboteours they will cry fowl. Let’s push the election and everyone get their pvc’s and settle this once and for all. Since most nigerians want a shift of date for the elections it is pertinent that we must fix national issues before then.

    • CONSCIENCE

      We will doubt it x 1 million times. Who told international companies are sparkling clean. Who is buying Nigeria illegal oil in the black market. No be Oyinbo man?

      • the truth

        I have an asssignment for u, go home , go to the mirror and stare at yourself. Take a good good look at yourself and see the dissapointment u have become not just to u, but to your family and most importantly nigeria. If you can call one of the best firms in auditing all over the world bias then you would deny your father for a piece of meat.

    • staaaaaaaaaaa

      Dont blame nigerians if they refuse the report. although we may not even need to blame this audit firm because they are even helpless right from the start. Those corrupt NNPC and Finance ministry officials would only present doctored files for the examinations. Will auditors follow them to where they are loading and off-loading?????? Where you would know there is serious problem with this admin is that NNPC figures were disputed by customs during the Lawan probe. Yet in one of his meet the press programmes, Jona was busy defending them. It is a shame on him. We have never had it so bad as a nation having such a derelict as the president.

    • G4

      Internationally acclaimed what, Is it not the same audit firm under investigation in the UK for overstating a supermarkets profits???.

  • CONSCIENCE

    And the senate committee said there was no wrong doing at all.

    • Adson

      Hmmmm bros

    • JayGeeEx

      The entire senate committee diff not do a forensic audit. Your desperation to have yourself proven right about figure that sanusi pulled from his behind is getting the better of you.

  • CONSCIENCE

    I laugh when I hear things like International company!!!!

    Who told you international companies are sparkling clean. Who is buying Nigeria illegal oil in the black market. No be Oyinbo man? International company. This same people will come tomorrow giving Jonathan, Ngozi and Dezeani international award after buying and receiving illegal oil in their shores.

    • the truth

      I have an assignment for u, go home , go to the mirror and stare at yourself. Take a good good look at yourself and see the dissapointment u have become not just to u, but to your family and most importantly nigeria. If you can call one of the best firms in auditing all over the world bias then you would deny your father for a piece of meat.

      • Adson

        No be quarrel bros.

        • CONSCIENCE

          No mind am! We can see how far we have come as a nation. Some fools are celebrating this news as if $1.48billion is no big deal. Even if Shishi got missing, every Nigerian must fight the government asking it to account for it. The likes of Truth are celebrating. SMH!

          • NNAMDI EZENWAFOR UNIJE

            YES! A LOT OF PEOPLE DON’T SEE ANY THING WRONG WITH THE MISSING PUBLIC FUND
            BECAUSE THEY ARE MONKEYS.GOVERNMENT AND HER AGENCIES WILL NOT ONLY ACCOUNT FOR PUBLIC FUND BUT MUST SEND THE SAID FUNDS UNDER THE LAW OF THE COUNTRY.BUT OPPOSITE IS THE CASE;THEY LOOT AND CONVERT PEOPLE’S WEALTH TO THEIR PERSONAL USE.

      • CONSCIENCE

        Lol! You got it wrong.

        1. An international company will only work on the basis of the information you provide. They don’t work in NNPC or Min of Petroleum or Min of Finance.

        2. International companies have been buying Nigeria oil illegally in the blackmarket. So why should I trust this one.

    • Tunsj

      You took the words right out of my mouth. Anyone that believe this report needs to have his head examined.

      • CONSCIENCE

        I tel you bro!

  • MushinSpeaks

    I hope we put an end to this impunity one day by making the right decision.

    Vote CHANGE…Vote Buhari

    • dd

      By February 14 we will see another failBuhari

      • Tunsj

        It is imbeciles like you that makes me laugh.

        • dd

          liver cut right? wait and see what is call failBuhari in 4th time = February 14th

  • Wetin Naija

    This is Nigeria where nothing is impossible and crime can be hidden and manipulated. The government can release what it wants the public to know. Report that was supposed to have been released since September was held back until APC and Prof. Chukwuma Soludo started asking questions. Care was taking not to indicate the President and the Petroleum Minister. Only fools will believe the report. Release the full document for public scrutiny if uncle Jona has nothing to hide. PDP knows that if they lose the election many things will be exposed.

    • NNAMDI EZENWAFOR UNIJE

      YES THAT IS WHY I CALL NIGERIA A ZOO.LOT OF PEOPLE LACKS COMMON SENSE!THEY ARE MONKEYS

  • longben

    From 49billion dollars to 12billion to 20billion to 1.48billion dollars and still counting down! APC eating humble pie and screaming from all HOLES. Those of you here still running your mouths for a party that depends entirely on lies, forgery and scare-mongering dont know your a**holes from a hole in the WALL!!! Shame on you all.

    • dd

      Ameachi – pastor took 1.6billion
      Buhari – certificate is there, here, there ooohh, submit to INEC
      Tinubu – king of lie from Toronto to Ajah to Ikpe
      Any name you mention in APC is lie lie…no wonder their spoke man is Liar Mohammed

    • the truth

      They survive on lies. They are on lie support as we speak. Without spitting lies to the retarded and gullible few they would perish

    • NNAMDI EZENWAFOR UNIJE

      IS VERY BAD AND CRIMINAL OFFENCE FOR A GOVERNMENT AGENCY TO SEND PUBLIC FUND WITHOUT ACCOUNTABILITY.SO FOR ME IT DOESN’T MATTER HOW MUCH MONEY INVOLVE.IN A NORMAL SOCIETY
      SOME ONE WILL BE SEND TO PRISON FOR SUCH ACT.BUT YOU SEE;IT IS ONLY POSSIBLE IN THE NIGERIA CALLED ZOO.AND YET PEOPLE DON’T SEE ANY THING BAD IN THAT.BECAUSE YOU PEOPLE LACK COMMON
      SENSE.

      • longben

        What you say is true but he truth needs no embelishment! If 1.48billion dollars is missing, then say it like it is and dont add a few zeros here and there for political, ethnic or religious reasons and thats where you and me differ. I bet you that the 49 or 20billion dollars lies put out there by the satanic purveyours of “change” has done Nigerian businesses and businessmen harm that atleast equals the amounts they stated in their diabolic and destructive lies. That is neither good for the growth of democracy or business and thats the point i am trying to make.

      • 247don007

        Sending people to prison alone does no one any good. In a sane society, those found guilty should first & foremost refund the money or have their properties confiscated by the appropriate authority or institution. They can thereafter be sentenced to serve the appropriate punishment according to the law of the land.

        Therefore, we should advocate for institutional reform so that corrupt public officials can be brought to justice. We should also ensure to elect the right kind of law makers so that we can have appropriate laws to combat crimes & corruption in the country.

        • NNAMDI EZENWAFOR UNIJE

          YES! YOU ARE RIGHT

    • Lemmuel Odjay

      So $1.48BILLION appears to you to be chicken feed? Going by the current dollar exchange rate, that amount is far in excess of this year’s budget of the first four frontline states in Nigeria. And you cannot claim this finding by PWC as one of those run of the mill rumours, because we all know that company. They are professionals to the core and are aware that one slip could bring their itching competitors sweeping them away. So, where is our dear $1.48BILLION? I guess it’s in the pockets of you-know-whom. And here you are still, trying to make a case for some hopeless losers! Are we so immune to shock therapy? I am scared of Nigerians, including yours truly, when we begin to behave as though $1.48BILLION, not Naira o, is but money just enough for a manageable pack of guguru and epa. Lord have mercy!

      • longben

        My dear friend, here is a simple question. How many 1.48 are there in 49? How many 1.48 are ther in 20? Nowhere in my comment did i say that 1.48billion dollars is “chicken feed” All i was asking is WHY THE LIES? If 1.48billion dollars is missing, why say it is 49billion dollars? 1.48billion dollars is a whole loada money no doubt but why embelish the truth? A lie told in whatever guise is still a lie. If you goat is missing, why claim it is an ox? you cant fight lies with bigger and bogus lies.

        • NNAMDI EZENWAFOR UNIJE

          what made you to believe the audit and not the other way round? mind you the audit said that $1.48 billion was not accounted for;But it didn’t say that $1.48 billion was not missing.I strong believe that other part of the said missing $49 billion was send and accounted for.But we all know as a nd matter of fact how NNPC and other government agencies uses public fund that was not budgeted.some been openly looted and converted to private use.People must stop supporting corruption and crime.
          IF such a thing happens In a normal society,it doesn’t matter the amount of money involve,all those that committed the act will return all money and sent to prison.NIGERIA IS A ZOO!

      • longben

        Ask yourself this simple truth, who is telling the truth. Lamido Sanusi/APC, the FG, Pricewaterhousecooper or you and me? When you obscure the truth in lies, you kill the truth.

  • MrFesh+Ifebuche+Paschal

    Oya where them?
    Tell us that PriceWaterHouseCooper is also PDP.
    We have been led astray so much we have lost sight if the truth.
    Nigeria is bleeding money but the amount they are telling is so misleading.

    The real loss we are incurring is from the big time oil guys who keep selling to black market and under reporting their earnings and evading tax. That’s where we need to plug real quick and good.

    • NNAMDI EZENWAFOR UNIJE

      THE AUDIT SAYS THAT;NNPC should refund about $1.48billion to the Federation Account for various unreconciled transactions.BUT THE REPORT DID NOT SAY THAT THE SAID $49 BILLION WAS NOT MISSING OR STOLEN.PLEASE GET THAT RIGHT!

      • MrFesh+Ifebuche+Paschal

        Get help Bro. You need it.
        I can’t even attempt to explain it to you cos it would be a capital waste of time. Even the person that said 49 reverted to 20 but you are still with 49. I can’t help.

      • JayGeeEx

        Who did you like this? Pitiful. Desperate even.

  • Anoze

    Editor Premium Times,

    I am beginning to think there are too many Hausa people inside this your Premium Times.
    Why can’t you say the truth and make the devil ashamed? Can’t you say Sanusi Lamido
    must now face the music for disturbing public peace?

    If it is Yoruba or Ibo man that told this big lie that $49 billion is missing, you people will
    open big dictionary to use some kind English i have never heard before. But now that
    Sanusi Lamido is a Fulani man who told the big lie, you don’t want to say the same thing.
    I don’t agree with that, please! Sanusi Lamido must face the music. He tells lies too much.

    • Recycle

      @ Anoze:

      THIS IS ALL WE KNOW ON SANUSI LAMIDO’S ₦650 BILLION FRAUD:

      • ₦38.23billion developed legs and got missing in Central Bank under Sanusi Lamido,

      • ₦1.97billion was paid out in cash and entered on CBN accounts as “inexplicable expense”,

      • ₦20billion paid out in cash as Legal Fees by Sanusi Lamido to persons un-known,

      • ₦3.086billion was paid out in cash by Sanusi Lamido as expense to ‘..promote Central Bank image,

      • ₦160billion was paid out for CBN on self-determined activities,

      • ₦240billion was doled out at will as ‘donations’ by Sanusi Lamido,

      • ₦1.12billion was taken in cash and entered as paid to a non-operating airline
      for charter service,

      • ₦1.12billion was claimed as spent by Sanusi Lamido on lunch for CBN police guards
      in one year.

  • Alcindo Satori

    from $49B to $12B to 20B, I lost count already. Now PwC says it’s $1.48B? Okay, something very important needs to be pointed out. So a whole ex-CBN governor was so dumb to fumble around with critical numbers like that, and we’re talking about putting a certificate-less candidate as president? Oh serious…

    • IS.JESUS.CHRIST.A.CHRISTIAN

      IT IS NOW PROVED BEYOND DOUBT OR MISCONCEPTION NNPC UNDER GOODLOCK JONATHAN AND DIEZENI OKONJA, PATIENCE AFAKA SUFFERED PLUNDERING AND MASSIVE LOOT. WHEN GMB BUHARI SWORN IN AS PRESIDENT OF NIGERIA COME MAY 29 2015 BY THAT TIME THE 30 TRILLION NAIRA SOLUDO’S UNCOVERED AS MISSING UNDER JONATHAN, THE 50 BILLION DOLLARS SANUSI LAMIDO EXPOSED AND THE 16 BILLION DOLLARS EXPOSED BY SOLUDO AAIN, WILL ALL BE RECOVERED FROM THIS ENEMIES WITHIN WHO HAS BIAFRA AGEND BENEATH THIS EVIL DESIRE OFRESOURCES WASTAGE.

      • FortB

        I disagree with you. Remember the fertilizer racketeering that has been busted in similar fashion, the fuel subsidy scam, the unbundling of NEPA? Do you know how powerful the people behind these schemes are? Why were previous governments unable to checkmate them before now, or you think these scams started with GEJ? Believe it or not, this govt is systematically pulling down the godfathers of corruption that held us down all these years. And that is the reason they have teamed up in an APC alliance to pull the government down by all means. Apart from Buhari and Tinubu, are the rest not from PDP? Amechi, Kwankwaso, Atiku, Okorocha, Tambuwal etc? Fertilizer scam, checked. Fuel subsidy scam, checked. Ghost workers in d civil service, checked. NEPA, unbundled at last. Banks, sanitized. NNPC next in line. Hope you can see a clear trend here?

        • IS.JESUS.CHRIST.A.CHRISTIAN

          HALLUCINATION!

        • IS.JESUS.CHRIST.A.CHRISTIAN

          Let God and conscience guide whom to vote for

          Ohanaeze Ndigbo has denied endorsing President Goodluck Jonathan for a second term. They rather asked Igbos to vote whosoever their conscience permits them in the February 14th Presidential polls. Speaking on Thursday with the Director General of Igbo Mandate Congress (IMC) Rev Obinna Akukwe who led a team of concerned Igbo stakeholders to know the direction of Ndigbo in the 2015 Presidency project and the security of Ndigbo in the North especially after the elections, the Chairman of Ohanaeze Elders Council, Chief Mbazulike Amechi described those who purportedly endorsed Jonathan for a second term as “a group of illegal Ohanaeze whose major purpose is to collect and share billions of naira without any negotiation over the fate of Ndigbo during and after the Jonathan era”. Chief Amaechi told the leaders of Igbo Mandate Congress that those that went to Abuja to meet with Jonathan are speaking for themselves and their family.

          According to him “The basic interest of those endorsing Jonathan is to collect money. They were sharing millions and hundreds of thousands on Tuesday to some persons and we the Elders Council of Ohanaeze are not a part of it. Some persons even got their finger bitten off while some women got their dresses torn while struggling for the money from Abuja. That is not what Ohanaeze stands for”

          The Chairman of Ohanaeze Ndigbo Caretaker Committee, Chief Raph Obioha told Rev Akukwe that “Ohanaeze Ndigbo, of which I am the Chairman of the Caretaker Committee, has not endorsed anybody. We have presented four cardinal things that any candidate we must support will do for Ndigbo. These issues include the security of lives and property of Ndigbo, before, during and after the elections. Secondly is the callous neglect of Igbo territory since after the civil war, including the present administration,. Thirdly is the need for Igbos who lost billions of investments and millions of lives to be properly reparated. Fourthly is the political fate of the Igbos after the tenure of Goodluck Jonathan”.

          Dr Zed Chukwujama, Secretary Ohanaeze Caretaker Committee expressed worry over the fate of Igbos in the north after the elections and told Igbo Mandate Congress leaders “that those who are sharing the millions are not thinking of how to protect Igbo lives and property especially in the North”.

          Ohanaeze Caretaker Committee gave the leadership of Igbo Mandate Congress a copy of the communiqué of the meeting presently ongoing at Enugu. The resolution of Ohanaeze Ndigbo as contained in the communiqué includes:

          “Since there has been no concrete agreement with any of the Presidential Candidates on the four cardinal issues of security for life and property of Ndigbo, infrastructural development in Igboland, Reparation for atrocities and war crimes against Ndigbo, at least to the level recommended in the Oputa Panel Report, Ohanaeze Ndigbo is unable to commit Igbo voters at home and everywhere to the blanket support of any of the Presidential Candidates. We therefore advise and guide Igbo voters’ everywhere as follows:

          “(a) On the day of the election, after praying to God in whatever way you worship Him, listen to Divine Guidance, go and cast your vote for ANY candidate your conscience guide you to”
          (b) Be vigilant before, during and after the election, make appropriate arrangements to save your life, your family and your property
          (c) In view of the ominous uncertainties that loom in the air, Igbo Governors should make contingency arrangements, separately and collectively, to evacuate Igbo citizens who may be trapped in areas of violence”.

          The communique obtained by Igbo Mandate Congress was signed by Chief Mbazulike Amechi, Chief Ralph Obioha and Dr Zed Chukwujama. Ohanaeze Ndigbo Caretaker Committee meeting is still ongoing as at press time. The Ohanaeze Elders Council has declared the Igariwey led leadership of Ohanaeze Ndigbo illegal hinging it on the expiration of their two year tenure and appointed a Caretaker Committee to pilot the activities of Ohanaeze fo the next six months.. However the Igariwey led leadership has refused to comply with the orders of Ohaneze Elders Council, an issue before the court.

          It would be recalled that the Chief Igariwey led Ohanaeze Ndigbo had earlier endorsed Jonathan secretly at Aso Villa on the 12th of January with a delegation of some Igbo leaders which include Chief Emmanuel Iwuanyanwu, Eze Cletus Ilomuanya, Senator Ken Nnamani, Senator Hope Uzodimma among others. The open endorsement earlier scheduled for Abakaliki on the 14th of January was shelved due to the opposition from the Elders Council. However on Tuesday, they finally made the secret endorsement open at the Ohanaeze Ndigbo Secretariat Enugu.

          By Obinna Akukwe
          NM

    • Bidemi Lukman

      This is just an extract. $1.48 to be refunded by NPDC. The detail report to come will spell out refunds to be made by other entities including DiezGEJ.

      Besides, AU also said N6.6tr is missing.

      As all the money is missing, so GEJ will miss from Aso Rock from May 29, 2015

      • Alcindo Satori

        Look yourself in the mirror as you’re typing. You sound as smart as sanusi by the way. Lol!

        • JayGeeEx

          You can’t comfortably use the word ‘smart’ talking about @bidemi

  • fresh15

    I am happy that these challenges are coming up against the government.It will actually strengthen the government.This report has done well to reveal the actual amount unaccounted for.This is also a proof that Jonathan’s administration is not as bad as people say.I have always trusted that Jonathan will deliver,lets vote for his re-election because he is poised to transform Nigeria.

    • Ette

      Hi man, do not rejoice as the amount reported relates only to NPDC. Wait for the rest as the total amount stolen may be more than the $20b disclosed by the Emir. NPDC until recently has not been great spender. Activity involved in huge money stealing Is crude sales.

      • JayGeeEx

        So because Sanusi said $20 billion, it MUST be $20 billion… And you are now looking for the remainder. I doff my hat. I hope the issue with you is not hereditary.

  • Onome

    This
    is a damage-limitation report and the mother of all smokescreens.
    Before PDP apologists break their necks from
    break-dancing all over the place, I must caution that this is a watered-down
    version of the original report. It may
    make the government look somewhat good now but the euphoria that greeted this doctored
    report will dissipate when we make the original version available to the
    public.

    • D1

      When we? Ol’boy, it seems you are in the know, spill Biko!

  • Onome

    This is a damage-limitation report and the mother of all smokescreens.

    Before PDP apologists break their necks from break-dancing all over the place, I must caution that this is a watered-down version of the original report. It may make the government look somewhat good now but the euphoria that greeted this doctored report will dissipate when we make the original version available to the public.

  • tyson

    The only POLICY that will put this ongoing madness by the thieves who manufacture these lies against the President, with a view to giving a dog a bad name in order to hang it—is to introduce Resource Control for the oil producing regions of the country-Since the South West never experienced these satanic acts when they had the full control of the REVENUE FROM THEIR COCOA- Such move if accepted by the custodians of our thoughts in the Niger Delta–will bring to an end the EVIL plans of THE NONE OIL PRODUCING AGENTS OF DARKNESS-in Nigeria——-who have the penchant of cooking up stories that often help them heat up the polity for their own selfish political end————

    Again rather than unthinking fools like Amaechi, to fight for the SS to take charge of their God-given resource, he is all over the place allowing himself to be used like a deaf and dumb whore who has no control over her body. Similar to the way the Fulanis hired the thoughts of Akintola ati Abiola and used it to fight Awo-The issue of the so-called forensic audit, cost the people of the oil bearing communities Millions of dollars–Those who have gained from the fracas are the imperial powers who control the audit firms abroad–They—are not even Ijaws—or hail from any part of the South-South Regions of the country———–Its in line with keeping with the need for probity and accountability in d system that, we call for the prosecution of Sanusi—for lying to the citizens of Nigeria.

    • tyson

      The same way Buhari— used his Oluwole certificate story line, to gain admission into the Defence ACADEMY—to enable him cheat the FGN————The Millions of Naira Buhari stole from the Army–is today of no concern to the untouchables in our midst-Who like Buhari, rely on the use of fake letters of recommendations, designed to help them gain entry into our great institution of higher learning–and the Defence Academy–Such diabolical acts, must not be allowed to be swept under the carpet–because the Buhari crime has to do with the tribal marks of a special breed of Nigerians from the Fulani North–

      The money wasted on Buhari over the last 40 years, must be refunded to the Govt–Besides the issue of some Nigerians who often claim to have been born by Lord Lugard—to rule over us–in d creeks-and therefore–are free to get away with any type of crime should be brought to an end–Buhari satanic behavior with regards to his sabinkate issue, does not send the right signal to those who indulge in these corrupt practices—-Aware the globe is watching Nigeria on the certificate scandal–while the Hawks in APC fast & pray for his VP to take over, in case of any in-casity–without a proper investigation of d deceptive acts-by Sanusi the Emir of Kano ati Buhari-mean s the country has a long way to go in her fight against thievery-the result of not acting now are–too scary for comfort-

    • wonderboi

      If truly you go by this name “Tyson” then is rather unfortunate for you , i suppose you have forgotten that you days of reign is over. that sort of do or die affair to gain recognition at all cost like hair biting will put you in a more shameful and dangerous place, .silly war monger !

    • Omo Naija

      Ol boy no bi APC write the Audit report o – or you need a psychiatrist to check you

    • Lemmuel Odjay

      REAL ISSUES: Where are the roads? Are your public hospitals functioning? What about the schools (what schools)? Don’t let’s mention electricity, pls. How many of your jobless fellow Nigerians have landed proper jobs in the past 16 years of PDP rule? Suppose your PDP leaves you a bait, informing you they’d forgotten one of those PDP-designed ghana-must-go bags stuffed with a billion dollars at Sambisa and whether you could go pick it up for keeps, would you oblige them? Or would u prefer instead to seek refuge at APC? How come the Naira has turned coat and is threatening to jump ship? These are some of the Real Issues to which you and your party must provide answers. Brother Tyson, are u there? Hello oo? Hello o!!! Oh, this could be the network acting up again, or he has switched off and taken flight… Maybe…

    • Etomi

      Sure….
      Missing billions this, missing billions that…
      Na today?
      Nearly all the governments have been accused of presiding over missing billions, including Buhari…
      But the crowd of lazy thinkers, who are mortally afflicted with the inability to cogitate in terms of first principles, feel that to resolve the Nigerian question all you need do is just CHANGE PRESIDENTS; replace GEJ with GMB!!!!
      Pronto: SHOWERS OF MIRACLES!!!!
      And when we warn that the real solution, which can’t even wait for another 24 hrs, lies in restructuring Nigeria to reflect true federalism, where the federating units are politico-economically autarkic, they think we are far-fetched….
      Well the wheel of history grinds inexorably; it has a motive force and almighty will of its own….
      Soon and very soon, history would force us to accept that no nation in the completion of Nigeria ever stood the test of time…
      NONE!!!!!!

  • Bidemi Olayemi

    Ohhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhh……Why these distractions? Someone should tell Duncee to provide the certificate? …and I hope they’ve prepared his prison cell?

  • Adeleke

    Breaking News

    SR: Nobel laureate, Prof. Wole Soyinka, declared on Thursday that no one should vote for the continuation of President Goodluck Jonathan’s government, saying that there has been a total failure in leadership. He said he has sixty reasons not to vote for the Jonathan regime.

    • hummmm

      How is this breaking news? . You dont need Soyinka to tell you the obvious, its a no brainer.

      • Oluwole

        Shut up there. Who is Wole? A miserable PhD drop out? Pls stop promoting mediocrity. Luggard will never have peace for his criminal amalgamation.

        • sts

          @Oleku, Na bad belle go kill u. Whether you like or not he is a professor of international repute.

    • FortB

      So who does he want to vote for?

  • Gugurus Ekpa

    This cannot be the entirety of the money missing. The report is a huge report and I think the Jonathan administration is trying to hide some facts to limit the damage done.

    • FortB

      Why not go and do your own audit?

      • Lemmuel Odjay

        He is scared his own audit could unearth more of those missing, long forgotten billions of dollars.

    • JayGeeEx

      You ARE a pity.

      • Gugurus Ekpa

        How so?

  • FIRE for FIRE

    BREAKING!!!!—-Nigeria Will Disintegrate, Niger Delta Militants Warn
    ===============================================
    The Convener, Niger Delta Militants Revolutionary Front, General John Bosco Caterpillar, has declared that Nigeria will be forced to disintegrate if the current trend and wave of violence meted on the nation’s minorities is not checked.

    The militant who spoke with newsmen in an exclusive interaction, condemned the attack on minorities resident in the northern part of the country whose business and livelihood have been destroyed…Relating the recent wave of attacks by the northern extremists as planned to destabilise the government of Goodluck Jonathan in a bid to discredit it and also terrorise it, he said the Niger Delta militants who had willingly decided to surrender their armed struggle will soon be pushed back into violence to defend their kith and kin.

    General Caterpillar further called on security agencies to apprehend the leaders of the north who had through their various comments promoted violence and inhumanity perpetrated in the north.

    “We expect that by now the security agencies should have told us the number of people they have arrested for crimes against the state like inciting the people to violence, treason and even terrorism as they have variously supported terrorism and even called for violence through their declaration”. He announced that the former militants were already regrouping to go back to the creeks to wait for the reaction from the north as well as the security agents as they were ready to continue their armed struggle to emancipate the Niger Delta Region from oppression.

    “It has become obvious that war is inevitable because the north sees the country as its property leaving others behind. This we will not accept, I am hereby supporting my Igbo brothers who have called for self-defense. Let everyone who has no form of defence mechanism go and fortify themselves immediately”.
    ———————-Pointblanknews

  • FortB

    Any intelligent person will see clearly what this government is doing as the President explained on the campaign trail. Remember the fertilizer racketeering that has been busted in similar fashion, the fuel subsidy scam, the unbundling of NEPA? Do you know how powerful the people behind these schemes are? Why were previous governments unable to checkmate them before now, or you think these scams started with GEJ? Believe it or not, this govt is systematically pulling down the godfathers of corruption that held us down all these years. And that is the reason they have teamed up in an APC alliance to pull the government down by all means. Apart from Buhari and Tinubu, are the rest not from PDP? Amechi, Kwankwaso, Atiku, Okorocha, Tambuwal etc? Fertilizer scam, checked. Fuel subsidy scam, checked. Ghostt workers in d civil service, checked. NEPA, unbundled at last. Banks, sanitized. NNPC next in line. Hope you can see a clear trend here?

    • Guguru

      What ghost workers are you referring to again? How many of the heads of MDAs with ghost workers on their payroll have been indicted for fraud so far?

      • JayGeeEx

        Go and sit in the courthouse and make that inquiry. Or your lazy behind is hoping to get the information on Twitter?
        Friend. Your are looking for entertainment. Stick to Africa Magic.

        • Guguru

          Really? LOL!

    • tundemash

      Fake soldier, how far with teh war in the NE. Your mates are fighting Bokoo Haram while you are here giving support to a dying horse !

      • FortB

        Fake civilian, how far? What have you done for your nation lately?

  • TAWANDA INCOMMUNICADO

    So it is now clear that all the allegations of “missing funds” is falsehood . $1.48 billion in “unreconciled” transactions from one department to another will hinge on the type of transactions,the periods involved and if such transactions are of a recurrent nature etc. SLS allegations were unfounded.

    It is now left for the NNPC to conduct more regular audits and publish the reasons leading to the black-hole in the books.The funds are not missing but are unreconciled !

    • Dazmillion

      Your comment shows the level of corruption you are willing to accept. Over $1 billion dollar missing and you shrugging it off as if we talking about N5 here. One kobo should not be missing at all!

      • TAWANDA INCOMMUNICADO

        Where did you attend school,you should be ashamed of yourself !!

        • JayGeeEx

          Attend school is correct. He probably only attended. No learning involved.

    • Colonel Mariama(rtd)

      Thank you for getting it right. Just watch as this ingrates take the report out of context. They will stop at nothing to make fools of themselves. I straight up call them what they are- FOOLS!!!!!!!
      NB:IF YOU DO NOT HEAR FROM ME IN THE NEXT FEW MINUTES/HOURS IT IS BECAUSE MY POSTS ARE BEING DELETED BY PT.

      • JayGeeEx

        They do that here too? I’ve been blocked on Punch for a couple of weeks now…

  • Olusola

    where is the balance of $18.52B? bring it out or you will all do term at Kiri-kiri!

    • JayGeeEx

      So the amount sanusi started is final in your mind abi? And you now pulled out your solar calculator and did the rest…
      It would have been funny, if it wasn’t so ignorant.

  • Comfortkay

    After public cry and pressure they are giving out the report with more details to come, WHY l still find it difficult to believe this half report, l don’t trust this PDP in power, Let us stop kidding ourselves. This has been a problem that people who accepted to lead this country since 1999 don’t know, what leadership is all about.

    • otile

      After public ‘outcry’…..

      • Otile

        Fake Yoruba man who calls himself Wähala is using my name again. Shame on you, omo ale.

        May Thunder fire the idiott using my name.

        • Otile’s owner

          Don’t have the appetite for your childish rants, biko!

          • Colonel MH Mariama(rtd)

            I don’t think that a subhuman can ever own @Otile.Must I remind you that @Otile is an institution to be taken seriously.

  • MindYourself

    I saw some commentaries appealing to people that it wasn’t something serious that it was a mere case of unreconciled entries. No way!
    Missing, stolen and unreconciled. There are some terminologies used in fraud investigation that people need to understand. Even if a man confessed to a crime, the investigator can not just put in his report that the man is guilty. But who does not know that the man is guilty. To a layman or a wiseman: missing, stolen and unreconciled may be alluding to misappropriation of fund and he would be right. The fraud investigator may have chosen the soft word ‘unreconciled’ because it may end up in court. Don’t be deceived by that wordings.
    As far as I am concerned, I need to read the whole report before I can agree that only $1. 4billion was stolen. Senate mentioned the same amount. I need to verify the methodologies adopted by the firm in reaching their conclusion. I am suspecting the firm might have just conducted a pure audit instead of fraud investigation.

    • Minding Myself

      My friend, the report is a total charade. The more you dig the less you see. We tend to forget that team GEJ is schooled in the art of deviousness.

      • paul preston

        it is always the case with you people if you lose an election it is rigged if you win you worked hard for .if this report confirmed theft you would have believed it.the audit firm is world class it is not based in Nigeria so eat the humble pie no money is missing.Apc believes in lies so when they see the truth they will always reject it

        • MindYourself

          Hello, don’t give another meaning to what the report says. That there are “unreconciled figure” does not mean nothing happened. In accounting language, this could mean we have $1.4billion that could not be traced to anywhere. To you, this is a clean report. Please, it is far away from being clean. It means there is likelihood of fraud. So don’t start jumping for joy.
          My fear is that PWC worked on the amount of $1.4 given by Senate and conducted a pure audit instead of more detailed investigation. A pure audit is not a forensic audit.

          • Colonel Mariama(rtd)

            Here we go again.
            It was your loudmouth group that asked for the release of the damn audit report and now that it has happened you still ain’t satisfied. Suicide could be an honourable way out if you are not such a worthless coward.

          • MindYourself

            Emeka, you definitely need psychiatric evaluation. Instead of you engaging in intellectual discourse you went into your world, all by your self. Simply because you don’t have the useful ‘arsenal’ or the brain to deduce one, you resorted into name-calling. Do you understand the import of that report? NNPC indicted and you are claiming you have been justified. Who needs to hang himself? I am not the thief, you and your kinsman that are indicted in the report have the option of hanging. But wait until FeBuhari 14th . You are retired and your brains retired and retarded also, I suspect.

          • MEE (RTD)

            Emeka? Who are you addressing with that irrelevant distraction? You could do better.
            The main body of the report asked for accounts to be “reconciled”. How do you understand this simple English word?
            here’s a rough definition of the word as it pertains to this context:
            make (one account) consistent with another, especially by allowing for transactions begun but not yet completed.If anybody surely need urgent psychiatric help it would be a miserable waif like you who complains incessantly.Your life clearly is so miserable that I still suggest the only way out for you is to just apply the noose. The sooner the better.I pity you seriously.

          • MindYourself

            Emeka, thanks for your contribution.

          • TAWANDA INCOMMUNICADO

            If funds were missing,PWC would specifically render what is called a “qualified report” and state in specific terms where the loophole is .
            You are definitely a novice to accounting or business,that is why you type nonsense !!

          • MindYourself

            The caption of the subject we are all reviewing says “Audit report indicts NNPC, corporation to refund $1.48billion” . Oga Mr Accountant, which one are you reading? In no time you and your members would see someone smoking..gr… I hope you are alright? But how can you still claim nothing happened. This is more than a qualified report: it is an adverse report. What is more, this is not a pure audit but an investigation. I have checked your past posts and my discoveries do not encourage me having any prolonged discussions with you. My friend, I hate discussing with your likes.

          • TAWANDA INCOMMUNICADO

            You talk about captions of a biased opposition run media but I just finished reading the conclusions of PWC …and it was an “unqualified report !

          • MindYourself

            Don’t you think you owe me an apology for that I based my comments on this acclaimed biased caption? Did I not call for the main report, which you claimed you are privileged to read? On what basis did you jump to the conclusion I am a novice in accounting? I know it is very hard to say sorry in Nigeria, so I am ready to accommodate your continued insults or quietness as your way of apologising. Going forward, where did you get the main report?

          • TAWANDA INCOMMUNICADO

            I do not mean to insult you as I have nothing to gain doing so .However if you demand an apology for my kindness in striving to upgrade your knowledge then please accept my apologies .

          • Mr Q

            Lol. Qualified Forensic investigation report? Na Wa o. You people are just too much. I hail you accountant

          • TAWANDA INCOMMUNICADO

            It is still an audit ,novice !!

          • Mr Q

            I dont get why you people are like this. Constantly belittling and insulting anyone that crosses your path, spewing every nonsense that comes out of your mouth before verification.

            Let me educate you now, NOT EVERY Audit has to have an opinion whether qualified or unqualified. That was the crux.

            Forensic accountants are also known as fraud investigators, investigative accountants, forensic auditors or fraud auditors.

            “While Forensic Accountants (“FAs”) usually do not provide opinions, the work performed and reports issued will often provide answers to the how, where, what, why and who. The FAs have and are continuing to evolve in terms of utilizing technology to assist in engagements to identify anomalies and inconsistencies. It is important to remember that it is not the Forensic Accountants that determine fraud, but instead the court.” (David Malamed, Forensic Accountant, Toronto Ontario.)

            DO i need to speak further? Please research. If you really are a practising accountant, then this is a sore shame.

          • Mr Q

            Again the methodology applied to a Investigation is very different from an Audit. But if you didnt even know that an investigation is different from an audit is many ways, you probably also wouldn’t know this.

            This Forensic exercise could not have used auditing methodology.
            I just thought you might need some more clarification

          • TAWANDA INCOMMUNICADO

            A retrospective audit or forensic audit is still an audit which is concluded by a report !

          • Mr Q

            Mr Tawanda. The argument here is not if there is a report. THERE WILL ALWAYS BE A REPORT. You alluded that “If funds were missing,PWC would specifically render what is called a “qualified report” and state in specific terms where the loophole is .
            You are definitely a novice to accounting or business,that is why you type nonsense”

            Emphasis on “Qualified”. You have now said you are a business major and that probably explains the knowledge gap here. Please read my second comment and get better clarification. See extract below

            “While Forensic Accountants (“FAs”) usually do not provide opinions, the work performed and reports issued will often provide answers to the how, where, what, why and who”
            I probably reacted angily only because you called me a novice. If the issue here is a knowledge gap. Then its fine.

          • TAWANDA INCOMMUNICADO

            You are complicating a straight-forward issue. These accountants were given specific terms of reference which included to ascertain if any funds are “missing” with regards to SLS allegations.
            The auditors have pinpointed the lack of reconciliation of $1.48 billion BUT the auditors never used the word “missing” . If funds were missing then the investigative report would have been specific about it,it may well be that the funds are within the system but not properly reflected in the financial records !

          • Mr Q

            You would have noticed i did not take you up on the correctness or otherwise of your assertions on the report. I will tell you why, I cannot breach confidentiality even under the guise of anonymity. I hope you understand. I only commented on your the correctness of assuming a forensic report can be qualified or unqualified.

          • TAWANDA INCOMMUNICADO

            OK thanks anyway and SORRY FOR CALLING YOU NOVICE !!

          • Mr Q

            Again the audit you just defined here confirms what i said before. You are only clearly familiar with a Financial Statement Audit (because that is what you just defined). Let’s keep it at that. Being a business major does not make you an auditor or investigator, hence the gap is acceptable.

          • paul preston

            Do not deviate from the point,at issue is the much talked about missing 20bn dollars which was and is and will always be a farce those apc lies have been put to rest accept it,you can do your spins but you cannot kill the truth

      • MindYourself

        I am forced to agree with you. This Big 4 firms are not doing well to the noble profession of accounting. Apologies to those good accountants amongst them.

        • Colonel Mariama(rtd)

          Just hang yourself and get it over with. Don’t be a coward. The rest of us accept the need to “reconcile” the “error” and we are ready to move on. Die, alright. Just die and stop being foolishly petty.

        • Colonel Mariama(rtd)

          Just secure the noose on a horizontal beam of proper height. Then place a chair beneath the noose to facilitate a quick climb. … Put the noose around your neck while you are still propped up on the chair. Give the chair a quick kick. It won’t take that long only if you are patient. Just do it now. Remember to leave the final note in plain sight on the bed.Need further help? Just ask is all you got to do.After all what are friends for?

  • Etomi

    Missing billions this, missing billions that…
    Na today?
    Nearly all the governments have been accused of presiding over missing billions, including Buhari in 1978/79 and in 1996-99…
    But the crowd of lazy thinkers, who are mortally afflicted with the inability to cogitate in terms of first principles, feel that to resolve the Nigerian question all you need do is just CHANGE presidents; replace GEJ with GMB!!!!
    Pronto: SHOWERS OF MIRACLES!!!!
    And when we warn that the real solution, which can’t even wait for another 24 hrs, lies in restructuring Nigeria to reflect true federalism, where the federating units are politico-economically autarkic, they think we are far-fetched….
    Well the wheel of history grinds inexorably; it has a motive force and almighty will of its own….
    Soon and very soon, history would force us to accept that no nation in the completion of Nigeria ever stood the test of time…
    NONE!!!!!!

  • G4

    Some Ngerians and Africans allow white people to tell the m rubbish. Please before commenting on this article type in “Price Waterhouse Coopers Scandal” into google.

    • JayGeeEx

      Yes. We found out the were suspended when they were discovered to have laundered money for the wrong type of person. But guess what, they are allowed to continue 2016… What’s your point?

      • NNAMDI EZENWAFOR UNIJE

        the point in normal society “the audit company can never be trusted again” because they are criminals

        • JayGeeEx

          The point is, we are a nation of self righteous jackasses.
          How much more ‘normal’ are you than the US…?

  • Dogood

    Summary of Findings by International Auditors

    • Is $49 billion dollars missing as alleged by Sanusi Lamido Sanusi?
    The international forensic auditors have now answered that question
    in the negative: $49 billion is Not missing!”

    • Is $20 billion dollars missing as alleged by Sanusi Lamido Sanusi?
    The international forensic auditors have now answered that question
    in the negative: $20 billion is Not missing!”

    • Is $12 billion dollars missing as alleged by Sanusi Lamido Sanusi?
    The international forensic auditors have now answered that question
    in the negative: $12 billion is Not missing!”

    • Alkali

      ………….AND NOW THIS IS ALL WE KNOW

      • ₦38.23billion developed legs and got missing in Central Bank under Sanusi Lamido,
      • ₦1.97billion was paid out in cash and entered on CBN accounts as “inexplicable expense”,
      • ₦20billion paid out in cash as Legal Fees by Sanusi Lamido to persons un-known,
      • ₦3.086billion was paid out in cash by Sanusi Lamido as expense to ‘..promote Central Bank image,
      • ₦160billion was paid out for CBN on self-determined activities,
      • ₦240billion was doled out at will as ‘donations’ by Sanusi Lamido,
      • ₦1.12billion taken and entered as paid to a non-operating airline for charter service,
      • ₦1.12billion claimed as spent by Sanusi Lamido on lunch for CBN police guards in one year.

    • Colonel Mariama(rtd)

      My good friend, I have said all along that all the hot air about missing $49 billion or whatever amount was alleged, is just much ado about nothing.Anybody with a modicum of intelligence should have realized

      a long time ago that such an amount , if removed from the federation account, would lead to immediate economic collapse. It think that former CBN governors( small “g”) who should know better were the very same idiots spreading such unfounded rumour should the depth to which that office has sunk ( or SUNKEN if you so choose). I feel sorry for the multitude of educated ignoramuses who willingly swallowed this charade. The report is not an indictment of the management of the NNPC as all it recommends is that their accounts be reconciled with the Federation Account by such a paltry amount of less than $2 billion. It did not say that the money was lodged in a private account ,only that the numbers be reconciled. Just watch as some fools now start banding the allegation of missing $1.48 billion. Could it possible be that the former CBN governor mistook the point four-48 in that figure for $48 billion? Just curious to know what grade he too made in Math.

    • yomi animashaun

      You talk like you own the funds. You type about funds not been missing when someone somewhere is looting $40 million dollars daily?
      Are u for real? After all the delay they still couldn’t cover $1.48 Billion. They have used same funds to cover up. I wait for PDP to lose this election….We will know the truth!

  • Akiika

    Alison Madueke,….start preparing to go to jail!

  • sammyctu ode

    Shame on the senate and senators who said they investigated and no money was missing and also to ngozi who said the same thing and agreed with the position of the senate. Whether it is 20 billion dollars or 1.48 billion dollars, the fact still remains that Sanusi and Soludo have been vindicated because without them crying out, that’s how jonathan and pdp rouges would have pocketed our collective wealth. If diezani has any honor left in her, she must resign her position IMMEDIATELY BECAUSE SHE, JONATHAN AND PDP HAVE ALL BEEN INDICTED. The missing billions in dollars can be given to our universities towards education improvement, to equip our glorified teaching hospitals to perform better, can be used to build more super highways and build more infrastructure within the country. THIS IS ANOTHER REASON WHY jonathan HAS LOST ALL CREDIBILITY AND MAJORITY OF US WILL NOT VOTE FOR HIM.

  • dadesco

    A thief is a thief no matter how small it is

  • Alouche

    See these thieves! They tried to sweep report under carpet, and when it finally shows up, they say NNPC refund $1.48 billion. They are even so shameless that they are congratulating themselves that it is only this amount that is missing. The fact that some people are celebrating this on this forum shows how lowly even they regard this government. That they can even celebrating thievery. Shame! Shame!! Shame!!!

  • Worried Mother

    And the rest. Please apologies to Sanusi Lamido

  • Irunmole

    Stealing is not corruption pls…

  • Johnson Omale

    The truth is now coming out. Jonathan must return the money even after leaving the office.

  • ABUBAKAR A.

    THE AMOUNT IS MORE THAN THAT. YOU KNOW THEY BELIEVE CORRUPTION IS NOTHING BUT MERE STEALING.

  • IS.JESUS.CHRIST.A.CHRISTIAN

    The Christian Association of Nigeria and the Pentecostal Fellowship of Nigeria have remained quiet over an allegation that some pastors have collected N6bn to campaign against the All Progressives Congress presidential candidate, Maj. Gen. Muhammadu Buhari (retd.)

    As of press time, both CAN and its affiliate, PFN, had yet to issue any statement on the allegation.
    UIO

  • King Carlos

    Port Harcourt Dumbo watched as almost $2 billion was stolen at NNPC. yet he borrowed $1billion to fight boko haram.

    • TAWANDA INCOMMUNICADO

      Illiterate or mischief maker or both ? choose one !!

  • True Nigerian

    Folks, remember, this is the same government that is borrowing $1b to fight boko haram! We must bring change to this country on 14 February!

  • Dulles

    Editor Premium Times,

    OPEN PROBE INTO THE ₦650 BILLION MISSING AT CBN

    Nigerians should please think deeply despite that thinking is typically hard.
    Alleged theft of Central Bank funds and NNPC funds were the two issues.
    NNPC submitted to international probe and is now acquitted on the charge.
    “No $12b-$49 billion is missing”, says the Price WaterHouse auditors.
    Next step is to summon Emir Sanusi Lamido who alleged the missing figure.

    The summon is not to jeer him for telling lies, no, but to testify on the 650 billion Naira
    un-accounted at the Central Bank under his supervision as an incompetent Governor.
    That amount flagged missing at CBN is three times NNNPC’s un-reconciled amount.
    There is no radicalism in abetting stealing wherever it occurs – either in NNPC or CBN.
    The government of Nigeria is urged to summon Emir Sanusi Lamido for investigation.

    • Alkali

      …..This is all we know on Central Bank’s fraud under Sanusi Lamido

      • ₦38.23billion developed legs and got missing in Central Bank under Sanusi Lamido,
      • ₦1.97billion was paid out in cash and entered on CBN accounts as “inexplicable expense”,
      • ₦20billion paid out in cash as Legal Fees by Sanusi Lamido to persons un-known,
      • ₦3.086billion was paid out in cash by Sanusi Lamido as expense to ‘..promote Central Bank image,
      • ₦160billion was paid out for CBN on self-determined activities,
      • ₦240billion was doled out at will as ‘donations’ by Sanusi Lamido,
      • ₦1.12billion taken and entered as paid to a non-operating airline for charter service,
      • ₦1.12billion claimed as spent by Sanusi Lamido on lunch for CBN police guards in one year.

    • Gerald

      “WITH his petulance, foul temperament and imprudent conduct, Sanusi Lamido Sanusi
      impoverished the sobriety and dignity of the office of Governor of Central Bank of Nigeria
      in ways that made his appointment seem like an error in the first place.

      Firstly, contrary to his mandate of being a frontline steward of the nation’s economy,
      achieving low inflation, stabilising the Naira, and protecting the autonomy of
      the apex bank, the suspended Governor of the Central Bank- Sanusi Lamido –
      spent more time playing politics and playing to the gallery.

      In his public outbursts on the NNPC’s funds, Sanusi Lamido approbated and
      simultaneously reprobated to the extent that the primacy of his concerns and
      revelations were obviated by his flippancy”.

      .……..The Guardian Editorial

      (March 5th, 2014)

  • Chidi Ngoka

    Sanusi Lamido Sanusi the CBN Governor who can’t coun. Looks like another F9 in math ?

  • Chidi Ngoka

    Sanusi Lamido Sanusi . The CBN governor who can’t count . Probably another F9 in math?

  • Charles owolabi

    Chidi it is wrong to abuse Sanusi Limido Sanusi. although I can understand your anger towards him. Sanusi is a good economist however he lacked the training to have made the statements he made in the first place. The problem with Sanusi is that his he never encountered the concept – flowing acconting processes or fluid accounting processes something we were taught at Great IFE. I have written extensively in this concept. Sanusi spent most of his career in the risk department of various banks and did not under go proper training in accounts reconcillation. His rise was rapid and can be directly attributed to his ethnic nationality- he is Fulani
    Further Sanusi had also dipped his hands in the til – he diverted huge sums to himself and used his position of CBN governor to mount an attack on government as a way of diverting attention from his own freudelent actions.
    Sad.
    The bottom line is that Sanusi Emir or no Emir has a case to answer. He must move quickly to clear his name or else he may end up just like his grand father. Kicked out as Emir of Kano
    I am also happy for Madam Ngozi who people have abused for no justifiable reason. At last fingers at being pointed in the right direction- minister of Peteroleum who has managed to divert attention from her self .
    People have argued that the opposition party APC and its leaders have been afraid to question this woman for fear of having their oil leases cancelled. The only soft target was then to attack Okonjo Iweala . What a pity
    That is what Nigerian Politics is all about.
    Monkey thy work baboon thy chop
    Nigerias must therefore demand two things now
    1 that the ministry of Petroleum provide a detailed account of the 1.4 billion US
    2 that the minister subject her self to a personal audit given that the report eluded to direct mismanagement by her .
    3 Sanusi Lamido Sanusi must also be subjected to a personal audit for his own actions and for the diversion of over 300 billion Naira.
    The Federal Government must move quickly to suspend him as Emir for the lies he told the Nigerian public.
    He must be made to tender a public apology or face the possibility of criminal action
    People also need to apologize to Ngozi Okonjo Iweala who has suffered unrelenting attack for no justifiable reason
    God bless Nigeria

    • slim

      Apology my foot, can a fraud be carried out without the knowledge of the Finance Minister.
      Who manages, control and monitor the Finances of the Federal revenues and expenditures.? Why can’t the Finance Minister voice out when she noticed discrepancy on the account. She even claimed that No money is missing, thanks to Ex CBN governor for exposing them., it shows that Ngozi is not capable and competence enough to manage our resources. Both the Finance, Petroleum Minister and GEJ should be probe.

      • WilliamWilberforce

        I also replied this funny post by Owolabi but Premium Times seems to have deleted my reply even though it wasn’t obscene or abusive.

  • Val

    Was it mid 2012 to mid 2013 that Sanusi accused NNPC of missing money? Please could someone educate us on the exact period in his allegations because the exclusion of few months in the audit could change the outcome significantly. Thanks guys for the lively discuss

  • All said and done, the audits reports contracted by GEJ has incriminated his governance as a corrupt, inept and crass ‘badministrator’. Sekina

  • mr ben

    Nigerian Defence Academy admission 2015/2016 is presently on. For help or assistance to get into NDA contact General yakubu on 09090787073. for urgent help THANK YOU.//////////////////////////////////////////////

  • WilliamWilberforce

    @PremiumTimes: Is NPDC the upstream “subsidy” of NNPC or the upstream “subsidiary”? Please check for correction or clarification. Thanks.