It has been revealed that the former
government of Goodluck Jonathan is to face a
complete investigation in the nearest future.
The National Economic Council’s ad-hoc
committee on the crude oil proceeds
management, led by the Edo state governor
Adams Oshiomhole, is set to hire two
international forensic audit firms to obtain
details of the allocation of the revenue accrued
into the federation account, Vanguard reports.
The committee head disclosed this on
Thursday, August 6, in Abuja, adding that the
period under investigation will be from January
1, 2010 to June 30, 2015.
Oshiomhole further told journalists that some
agencies involved in revenue generation had
already been invited to brief the body, which
includes Governor Nasir El-Rufai of Kaduna
state, Governor Ibrahim Dankwambo of Gombe
and Governor Udom Emmanuel of Akwa Ibom.
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Oshiomhole vowed to ensure a thorough and
professional approach to the investigation.
“We held our first primary session today here
with some of the revenue generating agencies
that are supposed to remit funds to the
federation account. We had a successful
session with Customs, NPA, NEITI, SEC, FIRS,
and quite a number of others and next week we
will also hear from CBN, Ministry of Finance,
Office of the Accountant-General of the
“For the remaining ones, we agree we are going
to meet on Thursday next week, NNPC, NPDC,
DPR, NIMASA and other remaining
agencies. We have started the work, with the
idea to hear them out, what they have been
doing, with particular emphasis on revenue
accruing from these organizations and whether
or not these have been remitted to the
Federation Account for judicious distribution.
“We realised that this is a task and given our
mandate, even if we were professional
accountants because we are sitting governors,
we would not have the time to do a forensic
audit which this assignment entails.
“Therefore, we have agreed in line with our
mandate to appoint two reputable international
audit firms to carry out a thorough forensic
audit, not only of NNPC, which is more of
excess crude, but other monies that accrued to
the Federation Accounts. We have other
revenues like bonuses, royalties, taxes, VAT that
flow into the Federation Account.
“We are taking a holistic review of the entire
process, looking at all the agencies that make
contribution of funds to the federation
account. We are convinced that by appointing
audit firms, we will allow professionals to carry
out this exercise, so that it will be free of any
political colouration and also we will ensure the
outcome of the investigation will.
“We have learned, we have listened and asked
questions. I think we all have a clear picture of
what is happening in those organizations before
now. Some have information to supply and we
have drawn attention to those areas, they are
willing to oblige. We believe in the end, we will
be able to not just establish what had happened
over the period but much more important,
going forward with the changes the President
has promised the country.
“It is not going to be business as usual. He
started on a clean slate and everybody knows
the new rules of the game and in particular as
the laws apply to the various institutions are
implemented in full. So I think we started very
well. We are very confident that we are going to
come out with something that is going to be of
immense benefits to the Nigerian people…
“Some reports were produced by PWC but in
that report the PWC expressed their frustration
and pointed to the fact that they were not able
to access all the information they needed and
that what they were able to produce was to the
extent of information that was made available to
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Claim That Jonathan’s Minister Allegedly Stole
“Audit can only be credible as much as
information that was made available to auditors.
The good news now is that with President
Buhari, all the books will be open, no agency
has any protection. Any agency that refuses to
open the books then is ready to go on
confrontation with the authority.
“The forensic audit will act on the whole truth
and nothing but the truth so that all
stakeholders will have basis to formulate good
policies and that Nigeria will never find itself in
this circle where huge sums of money are
allegedly diverted and unaccounted for. Audit
has become a way of life for all public
Speaking about the five-year term to be
covered, Oshiomhole noted that should there be
need to track details preceding the said period,
the committee would not limit the time frame.
“We can’t impose a time frame on them but will
engage them and by Thursday we will be able
to make it public. We need to listen to them
and agreed with them on how much time will
be okay for them. We are all in a hurry to
ensure that the right thing is done. The
emphasis is not on time but doing thorough
“By next week we will meet with the big ones
and we will then be able to tell you the audit
firms that we have appointed. They are firms I
am sure Nigerians will have confidence in.
“At the end of the audit we will hear them out
and reconcile them with what the laws says and
arrive at a position. Given the volume of work
and complicated nature of issues, we agreed we
need professionals to carry out the audit. It is
only the professionals that can handle it. It is
not good to compromise.”
It should be noted that Governor Oshiomhole’s
claims have been widely publicised recently.
The first loud statement was made earlier in
July when the politician insisted that one of
Jonathan’s ministers had stolen $6billion oil
money, which he said was revealed to President
Muhammadu Buhari by US officials.
In another development an anonymous source
from the president’s entourage said that the US
had given Buhari a list containing the specific
names of oil thieves.
It has been revealed that the former