Tuesday, August 21, 2012

FG to Reconstitute Auditors to Verify Subsidy Claims, Articles | THISDAY LIVE

FG to Reconstitute Auditors to Verify Subsidy Claims, Articles | THISDAY LIVE


REASONABLE INITIATIVE OR AN OVERKILL?

It is getting confusing, I must confess. The Technical Committee headed by Aigbojie has completed its job. McKinsey & Company that "was commissioned to formulate foolproof processes and procedures for the highly flawed fuel subsidy scheme in the country" has completed its job. Now you are telling us that 'the reconstitution of the auditors is meant to enable the Federal Ministry of Finance to continue the payments of subsidy claims to oil-marketing and trading companies (OM&Ts)." Meaning, without reconstituting the auditors (McKinsey & Company) Federal Ministry of Finance cannot or do not have the capability to continue making payments to oil-marketers. Are we substituting our Ministry of Finance with McKinsey & Company? Or is this simply an over-kill?

The Technical Committee, working with the auditors proved beyond every reasonable doubt that most marketers scammed the subsidy system of verifiable amount of money. And they did that with facts and figures - the marketers or the scammers were paid for what they did not supply. If there is an outstanding claims, we should deduct the excess payments (the amount they received for their bogus claims) from the so-called outstanding claims. Are you saying the Ministry of Finance cannot do that using its own workers? Or maybe the story is just a figment of the reporter’s imagination. We are watching.

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