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.

Kamoru Kadiri     Lai Gobir     Akorede     Elerinjare-Ibobo     Idiagbon     Kwara NIPR     Ayo Salami     Alaiye     Timothy Olatunde Fadipe     Old Oyo     Sheikh Ariyibi     Olushola Saraki     Forgo Battery     Saka Abimbola Isau     Bola Olukoju     Funmilayo Mohammed     Alfa Modibbo Belgore     Kolawole Akande     Taofeeq Olateju     Durbar     Samari     Salihu Ajibola Ajia     Abdulraheem Olesin     Abdulganiyu AbdulAzeez     Idowu Laro     MAI Akande     Bello Taoheed Abubakar     Lanre Olosunde     Maryam A. Garuba     Ilesha-Baruba-Gwanara     Muritala Olarewaju     Kale Kawu     Air Peace     ITEM 7     Omoniyi Ayinla     Ijakadi     Adewuyi Funmilayo     SWAN     Kwara State Television     Maigida     Lawyers Unite Against Corruption     Tricycle Owners Association Of Nigeria     Saka Onimago     Emmanuel Bello     Olokoba     Aliyu Muhammad Saifudeen     Ayotunde Emmanuel Alao     Olabode George Towoju     Rice Farmers Association Of Nigeria     Federal Road Maintenance Agency     Guber Aspirant     Azeez Salawu     Joseph Daudu     Omu Aran     Yunus Oniboki     Idris Garba     Shade Omoniyi     Bayer AG     Afin Descendants Union Of Odo-Owa     Yaru     Centre For Digital Economy     Hussein Olokooba     Ilorin Talaka Parapo (ITP)     Saadu Yusuf     Abdulrahman Abdulrazak     Haashim Initiative For Community Advancement     Nigerian Correctional Service     Tosin Saraki     Bukola Saraki     Tsaragi/Share     Leke Ogungbe     Akom Construction And Engineering Synergy Ltd     Baboko Primary School     Amos Justus Sayo     Justina Oha     Local Government Pension Board     Abubakar Bature Sulu-Gambari    

Cloud Tag: What's trending

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

IESA     Umar Sanda Yusuf     Suleiman Rotimi Iliasu     UITH     Oluwatoyin Lukman     Minister     Kwara State University Of Education     Ishola Balogun Fulani     Saka Aleshinloye     Ahmed Bayero     Tunji Moronfoye     Tunde Oyawoye     Quarry Royal Valley     Academic Staff Union Of Universities     Kwara State Polytechnic     Senior Ibrahim Suleiman     Monthly Sanitation     Alfa Modibo Belgore     Kwara Teaching Service Commission     Abdul-Rahoof Bello     Kwara State Infrastructure Development Fund     Sheikh Hamzat Yusuf Ariyibi     Olatunji Abdulmumeen     Maja     Dan Iya     Nnazua     Olatunji Bamgbola     Muhammed Aliyu     Funmi Salau     Alimi Abdulrazaq     Chief Imam Of Ilorin     Ola Falade     Yusuf Lanre Badmas     Aliyu Muhammed     Ibrahim Taiwo     Garba Ayodele Wahab     Yomi Adeboye     Danhawa     Najim Yaasin     Tunji Folami     Yakubu Dogara     Yahya Mohammed     Ayegbeni     Olushola Saraki     Adamu Atta     Flights To Ilorin     Folajimi Aleshinloye     Bamikole Omishore     Henry Olaosebikan     Mopelola Abdulmaliq-Bashir     Salami Adekunle     Ghali Alaaya     Sobi Specialist Hospital     Shuaibu Yaman Abdullahi     Oluwarotimi Boluwatife Adenike     Tunde Kazeem     Ishola Moses Abiodun     Mashood Abdulrafiu Agboola     Kayode Alabi     Suraj Tunji Oyewale     Ganiyu Taofiq     Hassan Saliu     Alimi     Women Radio     Idofin     Park     Ibrahim Oloriegbe     Bamidele Aluko     Moro     Ilorin East/South Federal Constituency     Kwara Consultative Forum     Yoonus Kola Olatinwo     Monthly Sanitation Exercise     Offa Poly     Ope Saraki     Hydro-electric Power Producing Areas Development Commission     Ajeigbe