The Memorables


Goodluck Ebele Jonathan: 
President and Commander-in-Chief
Federal Republic of Nigeria
State House Abuja 

Your Excellency, 

Subjects: Non-Repatriation to the Federation Account by
Nigerian National Petroleum Corporation (NNPC) of
$49.8 Billion representing 76% of the value of crude
oil liftings in 2012 and 2013
Failure of NNPC to pay N22billion Nigerian Export
Supervision Scheme (NESS) Levy 
Other Related matters 

I am constrained to formally write your Excellency,
documenting serious concerns of the Central Bank
of Nigeria (CBN) on the continued failure of the
Nigerian National Petroleum Corporation (NNPC) to
repatriate significant proportions of the proceeds of
crude oil shipments it made in gross violation of the law. 

Sources of Federation Account Revenues
include proceeds from Export of Nigeria’s crude oil
by the NNPC, Petroleum Profits Taxes, and Penalties
for gas flaring, oil exploration licenses and
concession block allocations, etc. 

Our analysis of the value of crude…

View original post 4,554 more words


Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s