It has been revealed that the former government
of Goodluck Ebele Jonathan is to face a complete
investigation soon
of Goodluck Ebele Jonathan is to face a complete
investigation soon
The National Economic Council’s ad-hoc
committee on the crude oil proceeds
management, led by the Edo state governor
Adams Oshiomhole, is set to hire two
international forensic audit firms to obtain details
of the allocation of the revenue accrued into the
federation account, Vanguard reports.
The committee head disclosed this on Thursday,
August 6, in Abuja, adding that the period under
investigation will be from January 1, 2010 to June
30, 2015.
Oshiomhole further told journalists that some
agencies involved in revenue generation had
already been invited to brief the body, which
includes Governor Nasir El-Rufai of Kaduna state,
Governor Ibrahim Dankwambo of Gombe and
Governor Udom Emmanuel of Akwa Ibom.
Oshiomhole vowed to ensure a thorough and
professional approach to the investigation.
“We held our first primary session today here with
some of the revenue generating agencies that are
supposed to remit funds to the federation
account. We had a successful session with
Customs, NPA, NEITI, SEC, FIRS, and quite a
number of others and next week we will also hear
from CBN, Ministry of Finance, Office of the
Accountant-General of the Federation.
“For the remaining ones, we agree we are going
to meet on Thursday next week, NNPC, NPDC,
DPR, NIMASA and other remaining agencies. We
have started the work, with the idea to hear them
out, what they have been doing, with particular
emphasis on revenue accruing from these
organizations and whether or not these have been
remitted to the Federation Account for judicious
distribution.
“We realised that this is a task and given our
mandate, even if we were professional
accountants because we are sitting governors, we
would not have the time to do a forensic audit
which this assignment entails.
“Therefore, we have agreed in line with our
mandate to appoint two reputable international
audit firms to carry out a thorough forensic audit,
not only of NNPC, which is more of excess crude,
but other monies that accrued to the Federation
Accounts. We have other revenues like bonuses,
royalties, taxes, VAT that flow into the Federation
Account.
“We are taking a holistic review of the entire
process, looking at all the agencies that make
contribution of funds to the federation account.
We are convinced that by appointing audit firms,
we will allow professionals to carry out this
exercise, so that it will be free of any political
colouration and also we will ensure the outcome
of the investigation will.
“We have learned, we have listened and asked
questions. I think we all have a clear picture of
what is happening in those organizations before
now. Some have information to supply and we
have drawn attention to those areas, they are
willing to oblige. We believe in the end, we will be
able to not just establish what had happened over
the period but much more important, going
forward with the changes the President has
promised the country.
“It is not going to be business as usual. He
started on a clean slate and everybody knows the
new rules of the game and in particular as the
laws apply to the various institutions are
implemented in full. So I think we started very
well. We are very confident that we are going to
come out with something that is going to be of
immense benefits to the Nigerian people…
“Some reports were produced by PWC but in that
report the PWC expressed their frustration and
pointed to the fact that they were not able to
access all the information they needed and that
what they were able to produce was to the extent
of information that was made available to them.
committee on the crude oil proceeds
management, led by the Edo state governor
Adams Oshiomhole, is set to hire two
international forensic audit firms to obtain details
of the allocation of the revenue accrued into the
federation account, Vanguard reports.
The committee head disclosed this on Thursday,
August 6, in Abuja, adding that the period under
investigation will be from January 1, 2010 to June
30, 2015.
Oshiomhole further told journalists that some
agencies involved in revenue generation had
already been invited to brief the body, which
includes Governor Nasir El-Rufai of Kaduna state,
Governor Ibrahim Dankwambo of Gombe and
Governor Udom Emmanuel of Akwa Ibom.
Oshiomhole vowed to ensure a thorough and
professional approach to the investigation.
“We held our first primary session today here with
some of the revenue generating agencies that are
supposed to remit funds to the federation
account. We had a successful session with
Customs, NPA, NEITI, SEC, FIRS, and quite a
number of others and next week we will also hear
from CBN, Ministry of Finance, Office of the
Accountant-General of the Federation.
“For the remaining ones, we agree we are going
to meet on Thursday next week, NNPC, NPDC,
DPR, NIMASA and other remaining agencies. We
have started the work, with the idea to hear them
out, what they have been doing, with particular
emphasis on revenue accruing from these
organizations and whether or not these have been
remitted to the Federation Account for judicious
distribution.
“We realised that this is a task and given our
mandate, even if we were professional
accountants because we are sitting governors, we
would not have the time to do a forensic audit
which this assignment entails.
“Therefore, we have agreed in line with our
mandate to appoint two reputable international
audit firms to carry out a thorough forensic audit,
not only of NNPC, which is more of excess crude,
but other monies that accrued to the Federation
Accounts. We have other revenues like bonuses,
royalties, taxes, VAT that flow into the Federation
Account.
“We are taking a holistic review of the entire
process, looking at all the agencies that make
contribution of funds to the federation account.
We are convinced that by appointing audit firms,
we will allow professionals to carry out this
exercise, so that it will be free of any political
colouration and also we will ensure the outcome
of the investigation will.
“We have learned, we have listened and asked
questions. I think we all have a clear picture of
what is happening in those organizations before
now. Some have information to supply and we
have drawn attention to those areas, they are
willing to oblige. We believe in the end, we will be
able to not just establish what had happened over
the period but much more important, going
forward with the changes the President has
promised the country.
“It is not going to be business as usual. He
started on a clean slate and everybody knows the
new rules of the game and in particular as the
laws apply to the various institutions are
implemented in full. So I think we started very
well. We are very confident that we are going to
come out with something that is going to be of
immense benefits to the Nigerian people…
“Some reports were produced by PWC but in that
report the PWC expressed their frustration and
pointed to the fact that they were not able to
access all the information they needed and that
what they were able to produce was to the extent
of information that was made available to them.
“Audit can only be credible as much as
information that was made available to auditors.
The good news now is that with President Buhari,
all the books will be open, no agency has any
protection. Any agency that refuses to open the
books then is ready to go on confrontation with
the authority.
“The forensic audit will act on the whole truth and
nothing but the truth so that all stakeholders will
have basis to formulate good policies and that
Nigeria will never find itself in this circle where
huge sums of money are allegedly diverted and
unaccounted for. Audit has become a way of life
for all public institutions.”
Speaking about the five-year term to be covered,
Oshiomhole noted that should there be need to
track details preceding the said period, the
committee would not limit the time frame.
“We can’t impose a time frame on them but will
engage them and by Thursday we will be able to
make it public. We need to listen to them and
agreed with them on how much time will be okay
for them. We are all in a hurry to ensure that the
right thing is done. The emphasis is not on time
but doing thorough job.
“By next week we will meet with the big ones and
we will then be able to tell you the audit firms
that we have appointed. They are firms I am sure
Nigerians will have confidence in.
“At the end of the audit we will hear them out
and reconcile them with what the laws says and
arrive at a position. Given the volume of work and
complicated nature of issues, we agreed we need
professionals to carry out the audit. It is only the
professionals that can handle it. It is not good to
compromise.”
It should be noted that Governor Oshiomhole’s
claims have been widely publicised recently. The
first loud statement was made earlier in July
when the politician insisted that one of
Jonathan’s ministers had stolen $6billion oil
money, which he said was revealed to President
Muhammadu Buhari by US officials.
In another development an anonymous source
from the president’s entourage said that the US
had given Buhari a list containing the specific
names of oil thieves.
information that was made available to auditors.
The good news now is that with President Buhari,
all the books will be open, no agency has any
protection. Any agency that refuses to open the
books then is ready to go on confrontation with
the authority.
“The forensic audit will act on the whole truth and
nothing but the truth so that all stakeholders will
have basis to formulate good policies and that
Nigeria will never find itself in this circle where
huge sums of money are allegedly diverted and
unaccounted for. Audit has become a way of life
for all public institutions.”
Speaking about the five-year term to be covered,
Oshiomhole noted that should there be need to
track details preceding the said period, the
committee would not limit the time frame.
“We can’t impose a time frame on them but will
engage them and by Thursday we will be able to
make it public. We need to listen to them and
agreed with them on how much time will be okay
for them. We are all in a hurry to ensure that the
right thing is done. The emphasis is not on time
but doing thorough job.
“By next week we will meet with the big ones and
we will then be able to tell you the audit firms
that we have appointed. They are firms I am sure
Nigerians will have confidence in.
“At the end of the audit we will hear them out
and reconcile them with what the laws says and
arrive at a position. Given the volume of work and
complicated nature of issues, we agreed we need
professionals to carry out the audit. It is only the
professionals that can handle it. It is not good to
compromise.”
It should be noted that Governor Oshiomhole’s
claims have been widely publicised recently. The
first loud statement was made earlier in July
when the politician insisted that one of
Jonathan’s ministers had stolen $6billion oil
money, which he said was revealed to President
Muhammadu Buhari by US officials.
In another development an anonymous source
from the president’s entourage said that the US
had given Buhari a list containing the specific
names of oil thieves.
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