$49.8bn scandal: Query DPR, FIRS, ex NNPC GED tells CBN

Former Group Executive Director (GED) Engineering and Technology, Nigerian National Petroleum Corporation (NNPC), Mr. Godswill Ihetu, has urged the Central Bank of Nigeria (CBN) to beam its searchlight on the Federal Inland Revenue Service and the Department of Petroleum Resources (DPR) in its investigation of the alleged non-remittance of $49.8 billion to the Federation Account by NNPC.

Addressing the media in Lagos yesterday, Ihetu said both DPR and FIRS should as a matter of urgency furnish the CBN with remittance details of its own share of the controversial $49.8 billion.

CBN Governor, Mr. Sanusi Lamido Sanusi, had in a memo to President Goodluck Jonathan, dated September, 25 2013, explained that the NNPC has yet to account for, and repatriate to the Federation Account, an amount in excess of $49.804 billion or 76 per cent of the value of oil lifted in the same period.

The amount is said to represent 76 per cent of the total crude oil revenues from January 2012 to July 2013.

Ihetu while faulting the CBN, explained that revenue from crude oil liftings are in various categories, namely; Equity Crude; Petroleum Profit Tax, Royalty, Third Party Financing and the Nigerian Petroleum Development Company, NPDC.

Besides, he stated that revenues from each of these categories are statutorily collected by different agencies of the government, stating that NNPC collects only one of the aforementioned categories, namely Equity Crude.

“Petroleum Profit Tax is collected by the Federal Inland Revenue Service, FIRS; Royalty goes to the Department of Petroleum Resources, DPR, Third Party financing goes for Research, Development, Program and Satellite fields Development, while NPDC goes to NPDC for upstream development.

 
The former GED argued that the 24 percent of total crude oil revenue receipts which the CBN governor is reported to have acknowledged that NNPC remitted represents the proceeds from the equity lifting which NNPC is directly responsible for while the alleged unremitted 76 percent was paid to the agencies that are statutorily empowered to receive them for onward remittance into the Federation Account.

He maintained that the letter by Sanusi was written in error and that such mistake could have been avoided if the CBN has cross checked with NNPC on the workings of oil and gas industry accounting principles.

Ihetu insisted that it was impossible for about $50 billion to disappear from oil proceeds, saying that such amount was capable of sinking the economy.

“It is practically impossible for $49.8 billion to go missing. How much is the Nigerian budget that such huge fund will disappear. If it is true, then the government would have collapsed, “he

Revealed: How Onyii Alex Snatched Tonto Dikeh's Rich Lover

Alex onyii was said to have snatched tonto dikeh's rich lover, below is how showbiz plus reported it

You remember the Tonto Dikeh depression saga and how the actress talked about ending her own life?. Well, read the real reason behind the depression below according to Showbizplus:

Sexy actress and one of the hottest babes in Nollywood, Onyii Alex is heavy and expecting a love child with her multi-millionaire Igbo lover and married man, Promise, whom she allegedly snatched from Tonto Dikeh.
Aside the pregnancy stress, another challenge facing the slim-built thespian Onyii is the fact that she’s been living in hiding since her pregnancy came into the open.
A reliable insider told  disclosed that the bitter and angry wife of her lover, has allegedly threatened to deal ruthlessly with Onyii whenever or wherever their paths crossed.
And in order to avoid the impending wrath of the enraged and betrayed house wife, Onyii’s lover boy who always spoils her silly with gifts and the good things of life, has whisked her abroad for safety and safe delivery, pending when frayed nerves are calmed.
Surprisingly too, Nollywood bad girl and controversial actress, Tonto Dikeh, whom Onyii callously snatched Mr Promise from, is also threatening fire and brimstone.
According to one of Miss Dikeh’s close pals, she has vowed to pay Onyii back in her own coin at the appropriate time.
“Forget that story of Tonto wanting to commit suicide over the media intrusion into her privacy. The real cause was Onyii, who snatched her rich and doting sugar daddy Promise, thus leaving her high and dry. The separation with Promise, which was caused by Alex, whom Promise dumped Tonto for upon meeting her on a location around Festac, remains one of the saddest chapters in Tonto’s life. And I’m sure she has not gotten over it full time. She is still sulking,” disclosed this insider.
So many contacts made to  try reaching Dike and Onyii for reactions, but could not get across. Several calls to their phones responded they were switched off.