Friday, 31 July 2015

NEITI BOSS EXPOSES THEFT OF $13.7BN WORTH OF OIL UNDER NNPC

Hajiya Zainab Shamsuna-Ahmed
Hajiya Zainab Shamsuna-Ahmed, who is the Executive Secretary of the Nigeria Extractive Industries Transparency Initiative (NEITI), has disclosed that between 2009 and 2012, about 160 million barrels of oil valued at $13.7bn was stolen under the watch of the Nigerian National Petroleum Corporation (NNPC). According to her, subsidy payment from 2005 to 2012 indicated that $11.63bn had been paid to the NNPC but that there was no evidence of the money being remitted to the federation account. She, therefore, called on the Federal Government to privatize the refineries.

The NEITI Executive Secretary made this known during a courtesy call on the Governor of Kaduna State, Mallam Nasir el-Rufai, at Sir Kashim Ibrahim Government House, Kaduna. Yes, Tectono Business Review gathered that Mallam El-Rufai is among the four governors appointed by the National Economic Council to examine the accounts of the Nigerian National Petroleum Corporation and the Excess Crude Account managed by the administration of Dr. Goodluck Jonathan. Governors of Akwa-Ibom, Edo and Gombe states are members of the team.

The National Economic Council charged the four brilliant governors to unravel the N3.8trn not remitted to the Federation Account by NNPC between 2012 and May 2015, as well as $2.1bn said to have been deducted from the Excess Crude Account.