Petitions/Press Releases

Nigeria’s Missing $20bn: ANEEJ Backs Buhari’s Plan To Release Full PWC Report

By Alltimepost.com

President Elect Gen. Buhari
President Elect Gen. Buhari

Abuja– Incoming General Muhammadu Buhari administration’s plan to release the fuller report to compel Nigerian National Petroleum Corporation (NNPC) to repay the government more than the amount previously recommended is being backed by frontline rights group, Africa Network for Environment and Economic Justice, (ANEEJ).

The plan is coming in the wake of conflicting disclosures by the Minister of Petroleum Resources, Mrs. Dizeani Alison Madueke and Price Water Coopers on the actual funds that the NNPC should remit to the Federation Account.Diezani_Allison_Madueke

“We believe that releasing a fuller and a much more comprehensive report would establish a framework for due process to be followed in the fight against corruption in the oil and gas sector in Nigeria,” Policy Officer of the Africa Network for Environment and Economic Justice (ANEEJ), Mr. Innocent Edemhanria said in Abuja recently.

ANEEJ believes that shady oil deals involving the Swiss and the NNPC highlighted in the Bern Declaration Report will only be exposed with the publication of a fuller report, and due process followed in the plan to make the NNPC refund any amount in excess of what any initial report has said.

Rev. David Ugolor
Rev. David Ugolor

“Nigerians and friends of Nigeria know the issue of rot and decay in the nation’s oil and gas industry. This has been acknowledged by the outgoing administration itself leading to the setting up of all probe committees which yielded no positive result till date.”

The organization said that Nigerians have not forgotten the fact that the PWC audit was instigated by allegations from a governor of the Central Bank, Sanusi Lamido Sanusi who accused NNPC of failing to remit over $20billion to the federation account.

The allegation which the presidency saw as embarrassing was not only denied, but in a dramatic twist led to the commissioning of the PWC audit after the suspension of Sanusi from office.

ANEEJ believes that the plan by the PWC to audit the NNPC which disclosed a paltry $1.48billion was to assuage Nigerians who were calling for a probe of Sanusi’s allegations.

“If $1.48billion was what the PWC audit report uncovered, those shouting wolf today should have nothing to fear.

“But if the PWC audit report was doctored by the authorities in charge of the NNPC to fool Nigerians as it seems to be playing out now, then the promise by the incoming administration to release the full audit reports as demanded by ANEEJ previously and many Nigerians is most welcome.

“And we encourage the new administration to proceed with its intensions to recover all monies due to Nigerians when it assumes office,” Edemhanria asserted.