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Official document from Office of the Auditor General of the Federation has revealed how a total sum of $759,387,755.10 was withdrawn from the Department of Petroleum Resources (DPR’s) Signature Bonus Account domiciled with JP Morgan Chase Bank.
Signature bonus is a single, non-recoverable lump sum payment by the Licensee to Government upon the granting of a Petroleum Exploration Licence or Petroleum Production Licence.
The latest OAuGF 2018 annual report indicated that the sum, withdrawn in bits, was paid into different accounts in tranches between July 2014 and May 2015.
Checks by Nigerian Tribune showed that an initial sum of $469,387,755.10 was withdrawn from the said account between April 10th and April 30th 2015 and paid to an account called, “CBN autonomous FEM account Garki, Abuja Nigeria,” rather than being paid into the Federation Account.
How DPR withdrew $759 4m from signature bonus account
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Set continental record, reduced audit cost and time -- 7 major feats Waziri Adio achieved as NEITI boss
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By Olusegun Adeniyi
From Olusegun Obasanjo to Goodluck Jonathan and now Muhammadu Buhari, âtriumphalismâ by members of the ethnic group whose âsonâ is in power has become the defining ethos of their relationship with other Nigerians. This display of arrogance of powerâeven without deriving any âbenefitâ beyond the fact that the president speaks their languageânot only causes problems for their man, but creates needless tension for our fragile nation. However, at no period in the past 21 years has our country descended to the level of inter-ethnic animosity in which it finds itself at the moment. What is fueling the current angst has been aptly described by Nobel Laureate, Professor Wole Soyinka, as a not-so-subtle attempt to impose on the nation âcattle imperialismâ.
By Olusegun Adeniyi,
The stewardship of my friend and brother, Waziri Onibiyo Adio, as the Executive Secretary of the Nigeria Extractive Industries Transparency Initiative (NEITI) ends today after five excellent years. It is non-renewable single term. I am proud of his achievements at the institution that also means a great deal to me.
NEITI was established in 2003 to institutionalise transparent and accountable management of extractive resources as a response to the pervasive resource curse syndrome experienced by countries like Nigeria. Appointed by President Olusegun Obasanjo to represent the media, I was a founding member of the board (the inaugural National Stakeholder Working Group of NEITI). A certain Chibuike Rotimi Amaechi, then the Speaker of the Rivers State House of Assembly, was also appointed to represent the legislature of the 17 southern states. The main catalyst, of course, was our chairperson, Mrs Oby Ezekwesili. Working with the then acting Executive Secretary