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Tinubu Government To Investigate NNPC Under Buhari As Audit Reveals ₦3.3 Trillion Subsidy Inflation 

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Tinubu Government To Investigate NNPC Under Buhari As Audit Reveals ₦3.3 Trillion Subsidy Inflation A forensic audit by renowned global accounting firm KPMG has uncovered significant discrepancies in the fuel subsidy claims made by the Nigerian National Petroleum Company Limited (NNPCL). According to iWitnessLive, the audit revealed that NNPCL inflated its subsidy claims by ₦3.3 trillion.

Initially, NNPCL reported spending ₦6 trillion on fuel subsidies, a substantial portion of which was covered by the government during former President Muhammadu Buhari’s administration. Following President Bola Tinubu’s announcement of subsidy removal, NNPCL’s Group CEO, Mele Kyari, stated that the federal government still owed the company ₦2.8 trillion for petrol subsidy payments.....KINDLY READ THE FULL STORY HERE▶

As per the May 2024 report, no reimbursement has been made to NNPCL for this amount. “Since the provision of the ₦6tn in 2022, and ₦3.7tn in 2023, we have not received any payment whatsoever from the Federation. That means they (the Federal Government) are unable to pay and we’ve continued to support this subsidy from the cash flow of the NNPC. We are waiting for them to settle up to ₦2.8tn of NNPC’s cash flow from the subsidy regime and we can’t continue to build this,” Kyari said.

KPMG’s reconciliation reduced the subsidy claims to ₦2.7 trillion, prompting the Nigerian Government to initiate a fresh audit of NNPC Limited’s ₦2.8 trillion subsidy claim. The new audit will cover the period from 2015 to 2021 to verify the authenticity of NNPC’s claims.

The Office of the Auditor-General for the Federation (OAuGF) will lead the audit, with the potential involvement of an external firm for additional support. This decision was made during a Federal Account Allocation Committee (FAAC) session in March 2024, where the need for an impartial audit to avoid conflicts of interest was discussed.

Minister of Finance and Coordinating Minister of the Economy, Wale Edun, emphasized President Tinubu’s dedication to the forensic audit, which was initiated following KPMG’s findings. The initial audit has underscored the necessity for a deeper investigation into the subsidy claims made by NNPC.

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MOHBAD TRAGEDY SHOCKER: Court Ruthlessly Throws Out Suit Demanding Fresh Probe Into Late Singer’s Death!L

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The Federal High Court in Abuja has dismissed a lawsuit seeking to compel the Nigeria Police Force (NPF) to reopen investigations into the death of late Nigerian singer Ilerioluwa Aloba, popularly known as Mohbad.....KINDLY READ THE FULL STORY HERE▶

Justice James Omotosho dismissed the case in a judgment delivered on Thursday, ruling that the organisation that filed the suit lacked the legal standing to bring the action.

Key Highlights of the Ruling:

  • The Applicant: The case was brought against the Inspector-General of Police, the NPF, and the Lagos State Commissioner of Police by the Registered Trustees of Break the Silence Foundation, which sought an order for a fresh investigation.

  • Lack of Evidence: Justice Omotosho stated that the foundation failed to provide the court with the report from the initial police investigation, making it impossible to establish if the police neglected to question specific individuals.

  • Speculative Claims: The judge ruled that the court cannot rely on speculation or unproven claims when deciding whether to grant an applicant’s reliefs, noting that the claims lacked sufficient evidence.

  • Warning to Legal Practitioners: Justice Omotosho criticized lawyers who grant media interviews or make social media posts regarding active court cases, warning that such actions risk affecting public perception and could invite contempt powers.

  • Final Verdict: The court ultimately threw out the suit because the applicant lacked legal standing and failed to support its claims with adequate evidence. Mohbad had previously passed away in Lagos on September 12, 2023, at the age of 27.

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PRISONER OF CONSCIENCE: Peter Obi And Dele Momodu Demand Immediate Release Of Detained El-Rufai!

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Prominent political figures Peter Obi (Presidential Candidate, Nigeria Democratic Congress – NDC) and Dele Momodu (Chieftain, African Democratic Congress – ADC) have renewed their demands for the release of former Kaduna State Governor, Nasir El-Rufai, who has been in custody since February.....KINDLY READ THE FULL STORY HERE▶

Peter Obi’s Position

Idris Zekeri, media aide to former Anambra State Governor Peter Obi, stated that Obi has consistently advocated for due process regarding any allegations against El-Rufai. Speaking with Saturday Punch, Zekeri emphasized that if there is a case against the former governor, it should be properly established in court rather than resorting to extended, unlawful detention.

“Peter Obi has been one of the most vocal since the issue of El-Rufai’s ordeal started. We strongly believe that no Nigerian should be suffering extended detention without a charge and without his rights being respected,” Zekeri said.

El-Rufai remains in the custody of the Independent Corrupt Practices and Other Related Offences Commission (ICPC) amidst ongoing investigations and court proceedings. The Federal High Court in Abuja has reserved judgment for October 26 on a no-case submission in a separate matter involving El-Rufai, while a fundamental rights suit regarding his detention is scheduled for hearing on October 27.

Dele Momodu’s Position

Dele Momodu, speaking on Channels Television’s Morning Brief, criticized the continued detention, arguing that El-Rufai’s critical role in the emergence of President Bola Tinubu’s administration should be acknowledged.

“Without former President Muhammad Buhari, Aisha Buhari, and Nasir El-Rufai, I am not sure President Tinubu will be in office today,” Momodu asserted.

Momodu further defended El-Rufai against allegations of divisive politics, suggesting that these criticisms are politically motivated. He described El-Rufai as a formidable political figure in the North-West, whose current predicament stems from falling out of favor with the government.

“He has become a prisoner of conscience. I have no doubt in my mind that if he were still in the good book of the government, he would not go through this ordeal,” Momodu concluded.

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“Let Me Bury My Son!”—Imprisoned Blessing CEO Cries Out In Heartbreaking Audio From Custody

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Controversial Nigerian relationship expert Blessing Okoro, widely known as Blessing CEO, has reportedly suffered the tragic loss of her second son, Bryan, while currently in custody.....KINDLY READ THE FULL STORY HERE▶

Amira Agiye, CEO of the Isaamira Love Foundation, announced the heartbreaking news on Friday, making an urgent public appeal for support. Agiye emphasized the additional pain caused by Blessing CEO’s detention, which prevents her from personally attending to the situation.

Agiye stated that she is making this appeal with Blessing CEO’s full authorization and consent, urging Nigerians to show compassion despite any existing controversies surrounding her case.

Details of the Appeal

According to Agiye, financial assistance is urgently required to secure Blessing CEO’s freedom and address outstanding obligations.

“It is sad to announce to you all that Blessing CEO just lost her second son. I understand that people might have different opinions about her and the circumstances surrounding her case. And like everyone of us, she deserves compassion and an opportunity for redemption,” Agiye stated.

She continued: “She needs ₦20 million to meet the bail requirements. She also needs ₦36 million to pay the people she owes who brought the case against her.”

Agiye implored the public to set aside differences to aid the grieving mother, adding, “Please, Nigerians, let’s forgive her for the sake of that boy who is still in the mortuary.”

Blessing CEO Heard in Voice Note

In a voice recording played by Agiye, Blessing CEO reportedly spoke from custody regarding the loss of her son, expressing a desperate hope for release so she could mourn him.

“My second son, Bryan, was full of life. While in custody, I lost Bryan. I pray this turns out positive so I can leave this place, pick up the pieces of my life and pay my respects to him,” she said.

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