Saraki and the Missing $20 Billion NNPC Issue

Date: 2015-07-24

Before President Muhammadu Buhari travelled to the United States on a four-day official trip, one of the issues dominating the national discourse was the missing $20 billion money in the Nigerian National Petroleum Corporation (NNPC). The issue was first raised by former CBN Governor now Emir of Kano, Muhammadu Sanusi.

However, one Senator felt sufficiently peeved that the nation was losing so much resource, which could have been used for the benefit of the masses. He then took up the issue of the leakages in the nation's oil receipts and moved a powerful motion on the floor of the Seventh Senate. That Senator is now the head of the upper legislative chamber, Dr. Bukola Saraki.

At that time, the seventh Senate set up a committee to probe allegations that the nation lost $20 billion due to sharp practices in the sector. The report of the committee led by former Kaduna State Governor, Senator Ahmed Makarfi turned to be as controversial as the amount of money said to have been lost. While the committee in anti-climax manner failed to directly identify how much was lost and who benefitted from the loss.

Saraki refused to sign the report of the investigation into the alleged non-remittance of $20bn by NNPC into the federation account. In his letter dated 3rd of June 2014 to the Committee to explain why he withheld his signature, he wrote: "It is my opinion that this report as laid has not fully addressed the matter referred to us adequately and conclusively. The report has not been definitive on its findings and has failed to address some of the critical issues I had raised during our meetings. For this reason; I am withholding my support and signature."

The records of the committee are still accessible in the National Assembly and can be verified. The Senator chose to stand by the people, thereby breaking ranks with his colleagues.

Also, it is still on record that Senator Saraki is the only Senator in the committee that refused to sign the report even in the face of severe duress and personal inconvenience. Sen. Saraki during the investigation was known to have been very probing with his questions, meticulously reviewing the data offered by NNPC to get to the bottom of the issue. It would be recalled that though he did not make the last meeting of the committee, when the news broke that the Committee has cleared the NNPC, he was the first and the only senator to rebut the report saying "the recent media reports claiming that the Senate Committee on Finance has cleared NNPC of any unaccounted revenue fund are not true... I have been very active in the investigation, nothing significant has changed to suggest clearing of anyone". See Thisday Newspapers of May 29, 2014.

The newspapers publications relating to this is all over the print and electronic media for all who want to find the truth. It is therefore unlikely that he could have cut a deal with the Jonathan administration on this matter as some detractors recently wanted us to believe. Only in the world of fabricators will such a claim be possible.

It is also evident that Senator Saraki's commitment to see that the missing funds are found and paid back into the Federation Account was never in doubt from day one. It would be recalled that during this investigation, he went out of his way to collaborate with the IHS Information Analytics Expertise and MJHC Limited London, two renowned international organisations with specialty on oil financials, to do further forensic review on this matter.

This expensive endeavour undertaken at his own personal expense also underscores the length at which he left no stone unturned to help the Makarfi committee unravel the mystery surrounding the missing funds.

It is therefore laughable for anybody to insinuate that Sen. Saraki met with former President Goodluck Jonathan to discuss the content of the committee's report. Lest we forget, the committee met for the last time on the February 16, 2014. So, the thought of Senator Saraki working to bring down the number or amount un-remitted in a deal with Goodluck Jonathan is completely false.

For the avoidance of doubt, there has been no meeting of any type between Senator Saraki and former President Jonathan since the former left PDP. So any suggestion that the Ex-president Jonathan sent Mr. Chagoury, the Lebanese businessman to Senator Saraki with gifts /money to seek support from him on the report is totally false. Both the Sarakis and Chagourys have been family friends for over 26years.

It should also be remembered that it is because of Saraki's yeoman's job on the oil sector fund leakages that he harvested an EFCC case spawn by the Jonathan administration to teach him a lesson for his effrontery. That case which had been investigated without any result has become a blackmail instrument for anybody who hates Saraki's guts.

In the new politics of the struggle over the Senate leadership, it is not unexpected that this same EFCC case will be dusted up. It will be used again as an instrument of blackmail against Saraki. They will want to pummel him with it. That is the price of leadership. A gallant effort to save the resources of the nation has landed the enemies of a man the instrument to castigate him.

Omishore is Special Assistant (new media) to the Senate President and has been with the Senate President since his time as a first term Senator in the 7th Assembly.

 

Cloud Tag: What's trending

Click on a word/phrase to read more about it.

CCEPE     Mumini Ishola Hanafi     Ado Ibrahim     Adeniyi Ojo     Federal Neuro-Psychiatric Hospital     Ilorin Talaka Parapo (ITP)     Baba-Isale     Abiodun Oyedepo     Nigerian Correctional Service     AGF Abdulrazaq     Mufti Of Ilorin     Olubukola Kifayat Adedeji     Bayo Ajia     Sulyman Age AbdulKareem     Ariyo     Ambassador Kayode Laro     Saliu Ajibola Ajia     Kwara State Governor     Adama Isa     Adijat Adebiyi     Matthew Babaoye     Suleiman Idris     Suleiman Rotimi Iliasu     Rihanat Ajia     Bukola Ajikobi     Iyiola Oyedepo     Abdulrauf Aliyu     Mohammed Abdulahi     Jaiz Bank     Kwara Poly     Sulyman Buhari     KWASIEC     Saka Adeyemo     Oye Tinuoye     Ajidagba     Kunbi Titiloye     Adewuyi Funmilayo     Lateef Fagbemi     Kwara State Polytechnic     HAMFAT Clinic And Maternity     Kazeem Adekanye     UITH     Convocation Ceremonies     Ishola Moses Abiodun     Maimunat Oniyangi     Babajide Ajayi     All Confederation Of Principals Of Secondary Schools     Muyiwa Oladipo Kanu     Yahaya Abdulkareem     Olota Of Odo-Owa     KW-GIS     Igbaja     Jide Ashonibare     Oluronke Adeyemi     Obasanjo     Yakubu Danladi     Saliu Shola Taofeek     Government High School Adeta     Toyin Falola     AbdulHakeem Ajibola Akanbi     Aishat Mohammed Lawal     Aisha Ahman Pategi     Olusin Of Ijara Isin     Halimah Perogi     Taofeeq Olateju     Muhammad Yahya     CLAY POT     Tafida Of Kaiama     Akume     Gbemi Saraki     Kayode Ogunlowo     Iyabo Adisa Ibiyeye     Ayobami Seriki     Al-Hikmah Radio     Musa Alhassan Buge     Oba Abu     Isiaka Rafiu Mope    

Cloud Tag: What's trending

Click on a word/phrase to read more about it.

Tsado Manman     ASKOMP     Issa Memunat Moyosore     Esinrogunjo     GRA     Memunat Monsuma     Abdullateef Abdussalam     Matthew Okedare     Baba Issa     Abdulrazaq Adebayo     Rihanat Ajia     Salami Adekunle     Kwara State Coalition Of Business And Professional Associations     Oke-Ero     Ayotunde Emmanuel Alao     Woro     Joseph Bamigboye     Kwara Muslim Pilgrims Welfare Board     Dunmade     Raliat AbdulRazaq     HYPPADEC     Summit University     Kunbi Titiloye     Road Transport Employers Association Of Nigeria     Olatomiwa Williams     Bolakale Ayo     Abdul Jimoh Mohammed     Towobola Abdulrahman Toyin     Elekoyangan     Ishaq Abdulkarim     Kayode Ogunlowo     Fatai Adeniyi Garba     Adijat Adebiyi     Taibat Ayinke Ahmed     Samuel Adaramola     Lola Ashiru     Senate Presidency     Tuesday Assayomo     Shonga     Wahab Abayawo     Kisra     Shagari     Gamji Members Association     Taofeek Sanusi     Gbugbu International Market     Tinubu Legacy Forum     UITH     Crystal Corner Shops     Yahaya Muhammad     Pakata Patriots     Abdulrahman Abdulrasak     Umar Saro     Balikis Jawondo     Isapa     Saka Balikis Kehinde     Lola Olabayo     Aliyu Umar     Transition Implementation Committee     Is\'haq Modibbo Kawu     Women Radio     Tafida Of Kaiama     Otunba Taiwo Joseph     Shettima Of Ilorin     AbdulRahman Saad     Folajimi Aleshinloye     Post Utme     AIT Ilorin     Agbarere     Fatimah Abdulkadir     Association Of Kwara State Online Media Practitioners     Allocation     Elerin Of Adanla     Jumoke F. Ajao     Baaziki Sulaiman     Oluwole Dupe     Egbejila     Opolo Global Innovation Limited