Oil sector scandal: Proceeds from stolen 1.492billion barrels of crude oil to be recovered
Representatives conclude the investigation, they can report soon ... 727,460 metric tons of gas allegedly missing (Cost $ 461 million, supposedly traced to 7 countries) ... Cost of allegedly traced crude: EE. US $ 12 billion; China, $ 3 billion; Norway, $ 839,522,600
The idiocy of the Nigerian state is magnified by the fact that Nigeria has crude oil of more than $ 15 billion stolen from its coasts, at a time when the same country pursues loans that represent only a fraction of what its citizens in collaboration with strangers have stolen from it.
Therefore, the specter of sadness that continues to stare at Nigerians as a result of the current economic situation may not be nearing completion unless the Federal Government of Nigeria ensures that the movement to recover the product of the stolen oil, some traction. The story is as amazing as it is incredible. An estimated 1,492,000,000 (Trillion, four hundred ninety-two million barrels of crude oil) was transported between 2011 and 2014. The cost is between $ 15b and $ 17b. Movements are being made to recover the money. Investigations have been completed in 41 of the 51 countries allegedly stolen. Unfortunately, the slow pace of research has not been disconnected from dysfunctional institutions in the country that made it impossible to extract information that would have helped the product tracking. ATTACKED by the magnitude of Nigeria's stolen oil and gas between 2011-2014, estimated at more than $ 17 billion, House members, the Office of the Attorney General of the Federation and the presidency have tracked locations in the crude oil stolen from Nigeria the world. The latest updates indicate that 51 countries are alleged to be involved. According to the sources, already, the investigations have been concluded in 41 countries. As at the time of publication, the list of countries was still kept secret for diplomatic reasons. Sunday Vanguard learned that the Presidency, the United States Department of Justice, and the Federal Attorney General's Office (OAGF) have stepped up their efforts to recover the funds.
The information available suggests that the Nigerian government has been in contact with the US Department of Justice. Initial investigators, Loumos Group, which is a Texas-based company, and Hon Ehiozuwa Johnson Agbonayinma, PDP, Ikpoba Oha / Egor Federal Constituency, in the state of Edo. , on how to obtain a substantial part of the funds returned. At the forefront of this campaign for reimbursement and speeding up the prosecution of the multinational companies involved are Hon Agbonayinma, and Barrister Juliet Ibekaku-Nwagwu, who currently serves as Special Advisor to President Muhammadu Buhari at Justice Reform / National Co- Open Government Partnership. In addition, Loumos Group engaged the services of three lawyers to help resolve the matter in the United States. UU. As all efforts of the Attorney General of the Federation and Minister of Justice, Abubakar Malami, to prosecute the case here in Nigeria continue to hit a brick wall. For example, Legal Adviser to the Loumos Group, Jerome Stanley, revealed that all attempts, through institutions in Nigeria, to extract information that would help trace the crude oil that came out of Nigeria turned out to be abortive. In fact, after spending time in Nigeria without achieving any significant results, the team of lawyers of the United States of America, according to Stanley, had to return to Houston, Texas, in the United States. (Read the attached interview for the next steps to follow). Last year, specifically on Friday, September 23, the House of Representatives inaugurated a special committee to hold investigative hearings on the allegations made by Hon Agbonayinma in a motion. The committee, led by Hon Abdulrazaq Namdas, APC, Adamawa, completed its investigations but has not submitted its report to the House plenary. Once the committee began the investigative hearing, it became difficult to get critical stakeholders who deliberately refused to appear or even file vital documents until lawmakers threatened to issue a court order. Motion that triggered investigations Agbonayinma told his colleagues that former President Goodluck Jonathan hired an audit firm to investigate what went wrong and gave a brief synopsis of the report. He gave the breakdown that Nigeria National Petroleum Corporation, NNPC and the Nigeria Maritime Safety and Administration Agency, NIMASA and other agencies were accused in the report. The company was hired in 2013 by the administration of President Jonathan to offer solutions to the challenges of crude oil theft. Agbonayinma, in the motion, recalled that the Molecular Energy System was contracted to provide technical data (records of extraction of crude oil and liquefied natural gas in Nigeria obtained from NNPC and certificates of landing in global destinations) to verify the possibilities of non-declararion to the federal government by multinational corporations. "Collecting shipment data to the US For the period 2011 through December 2014 through critical NNPC data and the pre-shipment inspection report of the Central Bank of Nigeria, CBN shows a shortage of undeclared crude oil 57,830,000 MT of Nigerian crude, which translates to more than $ 12 billion to the United States, also more than $ 3 billion to China and $ 839,522,600 to Norway, "he said. These were determined conclusively by buyers' bill of lading, arrival dates, destination ports, amount of crude oil and other documented information, Agbonayinma said. This is scandalous. The legislator also noted that the data collected showed a net natural gas deficit of 727,460 metric tons, estimated at more than $ 461 million, from shipments to seven countries. The loss of revenue, Agbonayinma said, can be traced back to the charges at each destination port of entry, and have been established as undeclared cargo. He added that the tracking was found in 51 countries where Nigeria was exported, with the United States being the largest recipient of crude oil. The report of the United States and that of other countries was made available to the former president, the Office of the Attorney General of the Federation and the Commission on Economic and Financial Crimes, EFCC said. "The companies that control cargo on ships were bought, owned, calibrated and operated by the International Oil Companies (IOC) without supervision." After listening to him, the speaker, Yakubu Dogara, quickly established an adhoc committee to delve into Agbonayinma's claims. When the committee began its work, more embarrassing revelations came to light. The work of the Committee The members, while questioning Rabiu Bello, COO of the NNPC, admitted to the panelists that there were distortions in the documents submitted to the Adhoc Committee. In the process, the committee found that within four years, from the documents submitted by stakeholders, approximately $ 15 billion of unreferenced oil and gas revenues may not be adequately explained.
The idiocy of the Nigerian state is magnified by the fact that Nigeria has crude oil of more than $ 15 billion stolen from its coasts, at a time when the same country pursues loans that represent only a fraction of what its citizens in collaboration with strangers have stolen from it.
Therefore, the specter of sadness that continues to stare at Nigerians as a result of the current economic situation may not be nearing completion unless the Federal Government of Nigeria ensures that the movement to recover the product of the stolen oil, some traction. The story is as amazing as it is incredible. An estimated 1,492,000,000 (Trillion, four hundred ninety-two million barrels of crude oil) was transported between 2011 and 2014. The cost is between $ 15b and $ 17b. Movements are being made to recover the money. Investigations have been completed in 41 of the 51 countries allegedly stolen. Unfortunately, the slow pace of research has not been disconnected from dysfunctional institutions in the country that made it impossible to extract information that would have helped the product tracking. ATTACKED by the magnitude of Nigeria's stolen oil and gas between 2011-2014, estimated at more than $ 17 billion, House members, the Office of the Attorney General of the Federation and the presidency have tracked locations in the crude oil stolen from Nigeria the world. The latest updates indicate that 51 countries are alleged to be involved. According to the sources, already, the investigations have been concluded in 41 countries. As at the time of publication, the list of countries was still kept secret for diplomatic reasons. Sunday Vanguard learned that the Presidency, the United States Department of Justice, and the Federal Attorney General's Office (OAGF) have stepped up their efforts to recover the funds.
The information available suggests that the Nigerian government has been in contact with the US Department of Justice. Initial investigators, Loumos Group, which is a Texas-based company, and Hon Ehiozuwa Johnson Agbonayinma, PDP, Ikpoba Oha / Egor Federal Constituency, in the state of Edo. , on how to obtain a substantial part of the funds returned. At the forefront of this campaign for reimbursement and speeding up the prosecution of the multinational companies involved are Hon Agbonayinma, and Barrister Juliet Ibekaku-Nwagwu, who currently serves as Special Advisor to President Muhammadu Buhari at Justice Reform / National Co- Open Government Partnership. In addition, Loumos Group engaged the services of three lawyers to help resolve the matter in the United States. UU. As all efforts of the Attorney General of the Federation and Minister of Justice, Abubakar Malami, to prosecute the case here in Nigeria continue to hit a brick wall. For example, Legal Adviser to the Loumos Group, Jerome Stanley, revealed that all attempts, through institutions in Nigeria, to extract information that would help trace the crude oil that came out of Nigeria turned out to be abortive. In fact, after spending time in Nigeria without achieving any significant results, the team of lawyers of the United States of America, according to Stanley, had to return to Houston, Texas, in the United States. (Read the attached interview for the next steps to follow). Last year, specifically on Friday, September 23, the House of Representatives inaugurated a special committee to hold investigative hearings on the allegations made by Hon Agbonayinma in a motion. The committee, led by Hon Abdulrazaq Namdas, APC, Adamawa, completed its investigations but has not submitted its report to the House plenary. Once the committee began the investigative hearing, it became difficult to get critical stakeholders who deliberately refused to appear or even file vital documents until lawmakers threatened to issue a court order. Motion that triggered investigations Agbonayinma told his colleagues that former President Goodluck Jonathan hired an audit firm to investigate what went wrong and gave a brief synopsis of the report. He gave the breakdown that Nigeria National Petroleum Corporation, NNPC and the Nigeria Maritime Safety and Administration Agency, NIMASA and other agencies were accused in the report. The company was hired in 2013 by the administration of President Jonathan to offer solutions to the challenges of crude oil theft. Agbonayinma, in the motion, recalled that the Molecular Energy System was contracted to provide technical data (records of extraction of crude oil and liquefied natural gas in Nigeria obtained from NNPC and certificates of landing in global destinations) to verify the possibilities of non-declararion to the federal government by multinational corporations. "Collecting shipment data to the US For the period 2011 through December 2014 through critical NNPC data and the pre-shipment inspection report of the Central Bank of Nigeria, CBN shows a shortage of undeclared crude oil 57,830,000 MT of Nigerian crude, which translates to more than $ 12 billion to the United States, also more than $ 3 billion to China and $ 839,522,600 to Norway, "he said. These were determined conclusively by buyers' bill of lading, arrival dates, destination ports, amount of crude oil and other documented information, Agbonayinma said. This is scandalous. The legislator also noted that the data collected showed a net natural gas deficit of 727,460 metric tons, estimated at more than $ 461 million, from shipments to seven countries. The loss of revenue, Agbonayinma said, can be traced back to the charges at each destination port of entry, and have been established as undeclared cargo. He added that the tracking was found in 51 countries where Nigeria was exported, with the United States being the largest recipient of crude oil. The report of the United States and that of other countries was made available to the former president, the Office of the Attorney General of the Federation and the Commission on Economic and Financial Crimes, EFCC said. "The companies that control cargo on ships were bought, owned, calibrated and operated by the International Oil Companies (IOC) without supervision." After listening to him, the speaker, Yakubu Dogara, quickly established an adhoc committee to delve into Agbonayinma's claims. When the committee began its work, more embarrassing revelations came to light. The work of the Committee The members, while questioning Rabiu Bello, COO of the NNPC, admitted to the panelists that there were distortions in the documents submitted to the Adhoc Committee. In the process, the committee found that within four years, from the documents submitted by stakeholders, approximately $ 15 billion of unreferenced oil and gas revenues may not be adequately explained.
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