Nigeria’s widest circulating newspaper
Eagles face Zambia in Cup of Nations
Auchi Poly students held for rape, murder
NEWS Page 63
NEWS Page 58
•Ethiopia, B/Faso also in Group C
•‘Victim buried in shallow grave’
www.thenationonlineng.net
VOL. 7, NO. 2289 THURSDAY, OCTOBER 25 , 2012
TR UTH IN DEFENCE OF FREEDOM TRUTH
N150.00
Ribadu Panel’s report: N86.6b oil cash missing ‘Final’ report a draft, says Alison-Madueke
A
FEDERAL Government committee headed by former anti-corruption agency chief Nuhu Ribadu has unearthed a cesspool of fraud and corruption in the oil industry. About N86.65 billion earned in 10 years by oil giant Nigeria National Petroleum Corporation (NNPC) is missing, according to the committee’s report. Billions of dollars of revenue is missing in unpaid debt from signature bonuses and royalties, the report said. It recommended, among others, that the NNPC be partially reorganised or scrapped, according to Reuters, quoting part of the Continued on page 2
THE FIGURES
$183m N137.57b
•Signature bonuses missing
$1.5b $5b
•Debt said to be owed by Shell for gas sold
•Unpaid royalties, allegedly owed by Addax
•Revenue said to have been lost between 2002 and 2011 from oil sales to NNPC
•Widows and children of the policemen killed by robbers in Ogun State on Monday during the presentation of N500,000 to each of the families…yesterday
•PAGE 10
Tears as Ogun gives N7.5m to families of slain policemen
Pope names Onaiyekan Cardinal
J
OHN Olorunfemi Onaiyekan, the Catholic Archbishop of Abuja, is now a Cardinal. Pope Benedict’s surprise announcement yesterday made Archbishop Onaiyekan Nigeria’s fourth Cardinal after Francis Arinze and Anthony Olubunmi Oko-
gie. Dominic Ekandem, Nigeria’s first Cardinal, is deceased. Pope Benedict named five other cardinals. All six are under 80 years old and thus eligible under Church law to enter a conclave that will one day choose Benedict’s succes-
sor. Members of the ultra-elite group are known as “cardinal electors”. The other cardinals are from the United States, Lebanon, India, Colombia and the Philippines. The ceremony to install them, known Continued on page 2
•Archbishop Onaiyekan
•SPORT P23 •EDUCATION P25 •POLITICS P43 •N/HEALTH P45 •E-BUSINESS P47