What Forensic Audit Report Of NNPC Revealed (Summarized Version)

Diezani Alison-Madueke, Petroleum Minister
Source: http://thesummary.com.ng/index.php/component/k2/item/551-what-forensic-audit-report-of-nnpc-revealed

The report of forensic audit of NNPC was released to the public yesterday in accordance with President Goodluck Jonathan's directive. Here are some major points as revealed by the report:

1. $ 980 million was over charged as subsidies on Petrol and Kerosene between January 2012 and July 2013.
2. $3.38bn was spent on kerosene subsidy for the review period.
3. A total sum of $ 13, 637, 077, 362 from sale of domestic crude was not remitted.
4. The following cannot be substantiated due to lack of supporting documents:
  i. $ 0.25 billion claimed as NPA charges
  ii. $ 59, 324, 737.01 spent on charter Hire services
  iii. $ 6, 658, 588.74 of the $ 17, 767, 683.54 claimed as management fee of MT Tuma and MT 
Oloibiri.
  iv. $ 5, 457, 006.98 of the $ 46, 265, 215.13 claimed as crude transport payment.
  v. $ 6, 707, 826.05 on marine through put.
  vi. $ 11, 896, 654.71 claimed as repair cost on pipeline vandalism.
  vii. Management charge out rate claim of $ 59, 712, 530.83
5. The following funds cannot be substantiated due to insufficient supporting documents.
  i. $ 10, 257, 161.07 claimed as enviromental remediation.
  ii. A capital expenditure of $ 27, 179. 005.48
6. A total sum of $ 305, 885, 083.77 cannot be verified due to exceptions.
7. Both CBN and NPDC did not grant the audit firm access to nor give the requested information to the firm

See The Nanny Who Kidnapped The Orekoya Kids (Photo)

Meet Kidnapper Funmilayo Adeyemi AKA Mary Akinloye, the nanny who kidnapped the three Orekoya boys. She has been arrested and has confessed to have been in the business with her entire family for quite a while now.

She was behind the disappearance of toddlers Raphael and Michael Esharegaran who were kidnapped from their home in Magodo shortly after their parents employed a nanny for them last year. She kidnapped the boys and released them after a sum of N2.5m was paid by the Esharegaran's family