The Nigerian National Petroleum Corporation (NNPC) has denied Muhammadu Buhari’s allegation that the corporation keeps two accounts and asked the former head of state to confirm rumours that $2.8bn was missing when he was minister of petroleum in 1977. Buhari, in his acceptance speech after being nominated the presidential candidate of the All Progressives Congress (APC) on Thursday, had said the NNPC maintains two different accounts ─ the one for the public and the other for insiders. 

In a statement issued on Friday by Ohi Alegbe, NNPC’s group general manager for group public affairs, the corporation accused Buhari of peddling false information. He said: “It is sad that General Buhari, one of the founding fathers of the NNPC who himself has tasted of the virulent but false allegations deliberately concocted to cast the Corporation and the public sector management of the nation’s oil and gas industry in bad light, would be the one to allege that NNPC runs two sets of account books ‘one for public consumption and another for insiders’. 

“We consider General Buhari’s allegation in bad taste as it is nothing but a deliberate political mischief calculated to cast the Corporation in opprobrium all in a bid to shore up his political capital. “We find it difficult to understand how a former Head of State who has also served as Minister of Petroleum Resources could believe that NNPC keeps two sets of account books to perpetrate fraud, knowing that NNPC is the most audited and scrutinized agency in the country. 

“In the past one year alone, the Corporation has had its books scrutinized and audited by the Senate Committee on Finance and an external auditor, PriceWaterhouseCooper (PWC). Is it possible for the accounting discrepancies insinuated by General Buhari to escape the attention of such internationally acclaimed auditors? And in any case, why would an alleged fraudulent Corporation keep two sets of accounting books knowing that such could be used as evidence against it? “We hereby state emphatically that NNPC neither keeps two sets of account books nor is aware of the existence of such as the Corporation is run in line with international best practice.” 

In 1977, the military head of state, Lt. Gen. Olusegun Obasanjo, set up a crude oil sales tribunal to investigate the operations of the Nigerian National Oil Company (NNOC, which metamorphosed into NNPC same year). The tribunal found out that in three years, NNOC had failed to collect its equity share of oil produced by Shell, Mobil and Gulf. As a joint venture partner, NNOC was entitled to 182.95 million barrels of oil production. But NNOC did not find buyers for its own share, thereby losing a potential income of $2.8 billion. But it was instead reported by the media that $2.8 billion was missing.

Source: The Cable NG


After the dismal performance of Sam Nda-Isaiah at the just concluded presidential primaries of the All Progressives Congress (APC), some Nigerians have taken to social media to criticize him for wasting funds that could have been put better use.

Nda-Isaiah, like the four other APC candidates got the form for N27 million. He, however, managed to garner only 10 votes of the available 7,214.

Nda-Isaiah is the publisher of Abuja-based newspaper, Leadership. His alleged “squandering” of the huge cash might not be the only thing that displeased his critics.

Checks by The City Reporters found the Leadership’s website, which wore a wallpaper advert of Nda-Isaiah’s presidential bid, was not updated throughout the duration of the APC national convention held at the Teslim Balogun Stadium in Lagos on Wednesday and Thursday.

As at the filing of this report, the most recent stories on Leadership’s website were posted by 11.44 a.m. on Wednesday.

“How could Sam Nda-Isaiah be this reckless, imagine what N27 million would have done for @LeadershipNGA?” a twitter user, @comr_roland asked, Thursday.

The tweet had another part that could not be published for the sake of maintaining media decency.

See the complete results of the APC poll:

Kwankwaso – 974 votes.

Okorocha – 624 votes

Nda-Isaiah – 10 votes

Buhari – 3,340

Atiku – 954 votes

Sixteen votes were considered invalid and declared void.

Another user, @peterorya tweeted, “Truth is Mr. Sam just wasted a whole N27m that could have been used to take many kids off the streets, it’s a shame to my nation.”

Other users, however, rose in defence of the publisher saying it was his right to seek elective post and so meet the requirements such could demand.

One of them, @akinolarj in reply to @peterorya, tweeted: “If the 16-year-old PDP experiment had not failed, there’ll be no kid on the streets.”

Former military head of state Muhammadu Buhari, 72, clinched the APC ticket and would now challenge President Goodluck Jonathan, 57, of the Peoples Democratic Party (PDP) in the general polls scheduled for February 2015.

Source: The City Reporters


Secrets Reporters

Reliable information reaching Secrets Reporters is that Imo State Governor; Rochas Okorocha known to be tricky has played a fast one on the People of Imo State and his party, the All Progressive Congress (APC).

Rochas we gathered on observing that he will lose the Presidential election quickly instructed the party officials in Imo State that he is now interested in the guber race which was earlier given to his Son-In-Law, Uche Nwosu, who many had earlier believe was holding the slot in keep for Rochas.

Uche Nwosu who is the Commissioner for Lands and Urban Planning announced his withdrawal from the race citing personal and family reasons as being the cause while noting that the party interest supersedes individual’s own, while urging party faithful to support Okorocha as the new candidate.

Giving credence to Nwosu withdrawal, the Chairman of the Electoral Committee, Mr John Alamba noted that the party has the power substitutes anyone who decides to give up his candidature
True to expectation, Rochas will now be the APC candidate for the 2015 general elections.