The Nation March 12, 2013

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Nigeria’s widest circulating newspaper

TVCNews begins live transmission

N150,000 cash limit takes off nationwide

BUSINESS

•CBN directs banks to implement

•African stories to get priority

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NEWS

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www.thenationonlineng.net

VOL. 8, NO. 2426 TUESDAY, MARCH 12, 2013

TR UTH IN DEFENCE OF FREEDOM TRUTH

N150.00

Auditor’s report indicts NNPC, DPR, PPPRA

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•NNPC MD Yakubu

HE House of Representatives Committee on Public Account (PAC) is shocked at the level of manipulation Nigeria’s finances are being subjected to by those in authority. Subsequently, the Committee has asked the Inspector General of Police (IGP), Alhaji Mohammed Abubakar, to present the chief executives of

From Victor Oluwasegun and Dele Anofi, Abuja

the Nigerian National Petroleum Corporation (NNPC), Petroleum Products Price regulatory Agency (PPPRA) and the Director, Department of Petroleum Resources (DPR) before it answer the queries raised by the Office of the Auditor General of the Federation on the financial records.

The 2007 Auditor General’s report revealed how money was being moved without authorisation and in flagrant disregard of the Constitution. The report reads: “In the year under review, sums totalling $174,000 and $911,224.15 were credited to the FGN Excess Proceeds of Crude Oil Sales Account as interest on Fixed Term Deposit and inter-

est on Ordinary Deposit. “The authority for placing the funds, which yielded the above interest in the deposit account, was not made available for audit verification. The banks where the deposits were made, the principal sums deposited, the tenor and the rate of interest were also not made available for audit verification. “Sums totalling $213, 354,

142.31 and $20,515,048.62 were credited to the FGN Excess Proceeds of PPT/ Royalty Account as interest on Fixed Term Deposit and interest on Ordinary Deposit. “The authority for placing the funds, which yielded the interest in deposit account, was not made available for Continued on page 2

Nigeria begins search for bodies of seven hostages Video shows four bodies

NCAA chief Demuren removed

From Yusuf Alli, Abuja

From Augustine Ehikioya, Abuja and Kelvin Osa-Okunbor

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HE Federal Government has not made an official statement on the “purported execution of the hostages” because it has not ascertained the truth or otherwise of it, sources said yesterday. The only information available to the government is about the illness of three of the seven hostages, it was learnt. Security agencies and the embassies had been working round the clock to establish where the killing took place and how to retrieve the bodies. A security source, who spoke in confidence, said: “We are working on various clues on the hostages. This is why the Federal Government has not spoken on the purported execution of the hostages. “What we are doing now is that we are trying to locate where the hostages were killed and how to retrieve their bodies. “More security operatives and intelligence officers have been drafted to Bauchi

A

N era ended last night in aviation, with the removal of Nigerian Civil Aviation Authority (NCAA) DirectorGeneral Dr. Harold Demuren. According to a statement by Sam Nwaobasi, Special Assistant (Media) to Senator Anyim Pius Anyim, Secretary to the Government of the Federation (SGF), Demuren was removed based on his inability to respond satisfactorily to the concerns raised in the aviation sector. The statement reads: “His Excellency, Dr. Goodluck Ebele Jonathan, GCFR, President of the Federal Republic of Nigeria, has approved the removal of Dr. Harold Olusegun Demuren from office as the Director-

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Fiancee mourns slain hostage

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•‘You’re always in my heart’

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RIBUTES have been pouring in for British contractor worker Brendan Vaughan, who is believed to have been slain by Ansaru, with six others. Vaughan, 55, who hailed originally from Leeds, lived in Thailand. One of Mr Vaughan’s friends - Peter Dixon - left a message on the site saying ‘RIP mate’. Mr Vaughan’s Thai girlfriend, Orasa ArContinued on page 60

•SHO SHOT DEAD: British engineer Brendan Vaughan with girlfriend Orasa Arpornkaew SHO T DEAD

•Dr. Demuren

•PEOPERTY P13 •SPORTS P23 •POLITICS P43 •ENERGY P47 •CITYBEATS P58


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