From Yusuf Alli, Managing Editor, Northern Operation

THE Economic and Financial Crimes Commission, EFCC, has uncovered about $4.5million (over N535million) looted funds kept in a secret account by a former governor.
[b]The funds were lodged in Cayman Islands, which officials say has now become a haven for public funds stolen by Nigerian officials.
Investigations by The Nation revealed that the ex-governor who died some years ago, ruled a state in the North-Central part of the country. [/b]

It was learnt that he had opened many accounts in Cayman Islands without the knowledge of his family.
Detectives said to avoid being noticed, the deceased operated the accounts with different names, which were coined from his original names and that of some members of his family.

In one of such accounts, the EFCC was able to locate about $4.5million. But contrary to his plans to enjoy the loot after leaving office, the ex-governor died a few a few years ago, leaving behind a family unable to access the looted funds. A highly-placed source told The Nation: "In the course of the EFCC’s search for looted funds stashed in Cayman Islands, the attention of the commission was drawn to the $4.5million in one of the banks by a Nigerian. We later discovered that he was an ex-governor.
"Although the ex-governor did not use his real name, his photographs were conspicuously pasted on the account folder and other documents.

"The EFCC was also told that the former governor had more hidden accounts in some banks in the Islands."

The ex-governor did not list any of his relations, wives or friends as possible beneficiaries in case of death, which he seemed not to have anticipated so soon.

"At present, neither the EFCC nor the family can retrieve the $4.5million not to talk of opening discussions on other secret accounts,’ officials said.

It was learnt that the uncovering of the ex-governor’s loot made the Chairman of the EFCC, Mrs. Farida Waziri, to meet with top government officials of Cayman Islands’ in Cambridge, London last week.

At the meeting, Waziri, The Nation learnt, expressed reservations that 70 per cent of looted funds in Nigeria are now being stashed in Cayman Islands.

The EFCC chairman said investigations by the commission had revealed that Nigerian public officers are now avoiding the United Kingdom, the United States and other European countries.

"Although the officials denied that the Islands were promoting money laundering, Waziri sought for collaboration on how to get the list of Nigerians with accounts in the Islands and details of lodgement," the source said.

"The EFCC chairman was said to have extracted a commitment from the officials of Cayman Islands that henceforth the EFCC would be notified if any Nigerian is opening accounts or transferring money to that country.

It was further learnt that the EFCC might encourage the Federal Government to sign a bilateral agreement on anti-money laundering with the Islands.

"I think when we have such an agreement; the EFCC would be able to repatriate the $4.5million of the ex-governor and other looted funds in Cayman Islands. The ex-governor might have had over N1billion in different accounts.

"Already, the EFCC chairman has briefed the Presidency on the shocking discovery of looted funds in Cayman Islands, especially that of the ex-governor. At the appropriate time, his identity will be revealed. We do not want any action that could affect the repatriation of the $4.5million," the source added.

The Cayman Islands is the fifth-largest banking centre in the world with $1.5 trillion in banking liabilities. The Islands located in the Western Carribbean about 150miles South of Cuba are homes to 279 banks (as of June 2008), 19 of which are licensed to conduct banking activities with domestic and international clients. The remaining 260 are licensed to operate on an international basis with only limited domestic activity.

One reason for the Cayman Islands’ success as an offshore financial centre has been the concentration of top-quality service providers. These include leading global financial institutions like UBS and Goldman Sachs, over 80 administrators, leading accountancy practices and offshore law practices

The Nation

gathered that since the Islands introduced the Mutual Funds Law in 1993, which has been copied by jurisdictions around the world, the country has grown to be the world’s leading offshore hedge fund jurisdiction.

http://www.thenationonlineng.com/dyn, e.asp?id=63437

And later someone will tell us sharia governments maintain law and order when their governors are the most corrupt in the whole of Nigeria.
Yet they'll chop off people's hands for stealing a piece of stewed meat.

could be the former governor ilorin, ex- governor, deceased, north central, click click

_{no wonder that bank opened a branch there}

_Queenisha:

And later someone will tell us sharia governments maintain law and order when their governors are the most corrupt in the whole of Nigeria.
Yet they'll chop off people's hands for stealing a piece of stewed meat.

Sharrap, who told you Kwara is a Sharia state? Kwara is more South(Yoruba) than North!!! Just classified as North because of the 1914 geo-political mistake that saw Northern boundary being put after Offa/Erin-Ile, instead of just before river Niger.

I'm a Yoruba and a Kwaran(though Lagos based) but I'm more Southerner than Northerner. I even used to forget many times that I'm a northerner, geo-politically.

My problem with many Nairalanders on this politics thread, Deepzone and Queenisha in particular, is your ethnic jingoism and tribal chauvinism,which you take too far. Your rabid hatred for the north is monumental. You appear so jobless that you are always scavenging the news sites, looking for news that say something bad about North, and coming here to dump such stories, most times, as is the case here, out of context.

Did I hear you say how did I know Kwara was the state in question?

I know you will not say that, because by saying that, you are embarrassing yourself as an ignoramus of Nigerian politics, which I, for one, have always believed you and Deepzone are, going by your past posts I have come across[Deepzone, if you are reading this(and I know you will because the title will attract you as an avowed northern hater), you are still running away from the challenge I threw to you, since about 4 weeks ago,to prove that MM, and not Gowon, changed Nigerian currency]

For any informed/current political analyst,not like the Queenishas, it is easy to tell who the Governor was. Afterall, Akume(Benue),Dariye(Plateau),Audu(Kogi),Kure(Niger),Adamu(Nasarawa) are all still alive. FCT of course doesn't have a governor. May Allah forgive the sins of my late Governor Lawal(Kwara).

Just to mention the name of the thief and you decided to write the story of your life. Well, thats nigerians for you.

@topic

Na only the dead ones government dey find their loot.

nuzo:

Just to mention the name of the thief and you decided to write the story of your life. Well, thats nigerians for you.

Mr Nuzo, the topic goes beyond naming who the alleged thief was. It's a continuation of the longstanding north-bashing some nairalanders like Queenisha and Deepzone thrive on. It definitely leaves 'more answers than questions'.

ife-eco-06:

Mr Nuzo, the topic goes beyond naming who the alleged thief was. It's a continuation of the longstanding north-bashing some nairalanders like Queenisha and Deepzone thrive on. It definitely leaves 'more answers than questions'.

You are not being fair here.
Are there no other threads in this forum that exposes the ills of the nigerian society in other tribes?
Must you see everything as north bashing even when its the truth?

Its best we stopped all these denial, its leading us nowhere.

Les i forget, did you say it was lawal that stole the money?

THE Economic and Financial Crimes Commission, EFCC, has uncovered about $4.5million (over N535million) looted funds kept in a secret account by a former governor

I am tired of all these rubbish.


1. No money can leave a state account with the state account general aware of it.

2. These fund must have moved from a Nigerian Bank through Central Bank of Nigeria

So the BEST option to stop this nonsense:

Every Banks in Nigeria must published in each quarter:

1. All Transfer/withdraw that more than N50million naira in Nigerian Newspaper.

2. Mention the beneficiary, state, local government and for reason for transfer/withdraw.

It is that simply, but we behave like chickens without heads.

landis:

I am tired of all these rubbish.


1.  No money can leave a state account with the state account general aware of it.

2.  These fund must have moved from a Nigerian Bank through Central Bank of Nigeria

So the BEST option to stop this nonsense:

Every Banks in Nigeria must published in each quarter:

1. All Transfer/withdraw that more than N50million naira in Nigerian Newspaper.

2. Mention the beneficiary, state, local government and for reason for transfer/withdraw.

It is that simply, but we behave like chickens without heads.

Dont be too naive about this issue, its not new in nigeria. Besides, there's no strict law or checks and balances on these banks as regards to money laundering.
How even do you think banks can be open about these transactions when all the groups you mentioned benefit immensely from the fraud.

Nigeria is simply a lawless society.

Each time I read piece like these about looted money being
stashed abroad (by Government officials) I really fall sick.

I mean I simply dont get it.it doesn't just add up at all.
How can these whiny mudafuckas be so callous,
insensitive,conscienceless and extremely greedy?

Over half a billion Naira?Oh God help this Nation!
Imagine if these gigantic sum was wisely invested in any sector
of our economy.

Heaven knows: if I can lay my hands on WEAPON OF MASS DESTRUCTION,
i won't hesitate one bit to use them on those Idiots that call themselves
politians.
what bunk!!!

How even do you think banks can be open about these transactions when all the groups you mentioned benefit immensely from the fraud

exactly.

we should name and shame everyone not just the governor but the bank, the banks CEO, the bank shareholder.

it is organised. by saying governors all time, it is to divert attention.

I was in Nigeria bank recently and they put on the counter: anti-money laundry is observed here. Pure nonsense.

ife-eco-06:

Sharrap, who told you Kwara is a Sharia state? Kwara is more South(Yoruba) than North!!! Just classified as North because of the 1914 geo-political mistake that saw Northern boundary being put after Offa/Erin-Ile, instead of just before river Niger.

I'm a Yoruba and a Kwaran(though Lagos based) but I'm more Southerner than Northerner. I even used to forget many times that I'm a northerner, geo-politically.

My problem with many Nairalanders on this politics thread, Deepzone and Queenisha in particular, is your ethnic jingoism and tribal chauvinism,which you take too far. Your rabid hatred for the north is monumental. You appear so jobless that you are always scavenging the news sites, looking for news that say something bad about North, and coming here to dump such stories, most times, as is the case here, out of context.

Did I hear you say how did I know Kwara was the state in question?

I know you will not say that, because by saying that, you are embarrassing yourself as an ignoramus of Nigerian politics, which I, for one, have always believed you and Deepzone are, going by your past posts I have come across[Deepzone, if you are reading this(and I know you will because the title will attract you as an avowed northern hater), you are still running away from the challenge I threw to you, since about 4 weeks ago,to prove that MM, and not Gowon, changed Nigerian currency]

For any informed/current political analyst,not like the Queenishas, it is easy to tell who the Governor was. Afterall, Akume(Benue),Dariye(Plateau),Audu(Kogi),Kure(Niger),Adamu(Nasarawa) are all still alive. FCT of course doesn't have a governor. May Allah forgive the sins of my late Governor Lawal(Kwara).

I won't ever bother to answer to all the rubbish you posted here except the highlighted part.
Which allah will forgive him?
The man is burning in the hottest part of hell with no virgins.
No allah, long juju of aro,Shango or Amadioha,not even  my Almighty Jehovah can help him there.
He may be cuddling abacha and others like him
So na your governor stole una/our money
may thunder fire him to pieces right there in the epicenter of hell together with  his red- hot, hell-heated up, thieving fingers.
ewu Ilorin like him

_Queenisha:

I won't ever bother to answer to all the rubbish you posted here except the highlighted part.
Which allah will forgive him?
The man is burning in the hottest part of hell with no virgins.
No allah, long juju of aro,Shango or Amadioha,not even my Almighty Jehovah can help him there.
He may be cuddling abacha and others like him
So na your governor stole una/our money
may thunder fire him to pieces right there in the epicenter of hell together with his red- hot, hell-heated up, thieving fingers.
ewu Ilorin like him

I won't waste my time arguing with a daft like you.

ife-eco-06:

I won't waste my time arguing with a daft like you.

ewu lokoja
wind go soon carry you go meet ya thieving governor for shaitan's jannat
Oponu

May Allah forgive the sins of my late Governor Lawal(Kwara).

you seem to disregard the late man's sin just because u share a common religion

landis:

exactly.


I was in Nigeria bank recently and they put on the counter: anti-money laundry is observed here. Pure nonsense.

government parastatals are the biggest clients of nigerian banks. due to the high targets heaped on them by their bosses, lots of bank marketers tend to turn a blind eye in the name of meeting the target or getting that promotion.

landis:

exactly.

we should name and shame everyone not just the governor but the bank, the banks CEO, the bank shareholder.

it is organised. by saying governors all time, it is to divert attention.

I was in Nigeria bank recently and they put on the counter: anti-money laundry is observed here. Pure nonsense.

and perhaps the CBN governor after all he should be overseeing all these transactions?

bawomolo:

you seem to disregard the late man's sin just because u share a common religion

government parastatals are the biggest clients of nigerian banks. due to the high targets heaped on them by their bosses, lots of bank marketers tend to turn a blind eye in the name of meeting the target or getting that promotion.

Isn't that typical.
Calling on allah to forgive a dead rogue
too late
he's already wrapped satan's cold embrace

Mr Nuzo, the topic goes beyond naming who the alleged thief was. It's a continuation of the longstanding north-bashing some nairalanders like Queenisha and Deepzone thrive on. It definitely leaves 'more answers than questions'.

I love Ahmadu Bello and _{Usman Dan Fodio}.

You may be as good as the best of them but don't test me. I have a gag order on religion, so don't push me.

Old fart bag like you.

A thief cud be a northerner or a southerner, a thief is a thief. The differnce been dat the guy acting d script is a northerner. Fortunately for us he's alledgely dead and the nigerian government wud repatrate the stolen dollars.

and perhaps the CBN governor after all he should be overseeing all these transactions?

exactly.

He should be able to tell us within 2hours:

1.how much money was withdrawn from Nigeria Banks in Q2

2.who are the beneficiary of such withdrawals

3. for what purpose such was withdrawn

4. who actually sign and did the withdrawl

But Nigeria is den of corruption!

And later someone will tell us sharia governments maintain law and order when their governors are the most corrupt in the whole of Nigeria.
Yet they'll chop off people's hands for stealing a piece of stewed meat.

Shame on you Queen what ever, Who told you the North Central Governors adapt Shari'ah in their states, Shame on you, almost all Nigerian Governors, Chairman, Councillors, all those politicians are mostly corrupt, not only Muslims North, check every where, you will see corruption. And what is even 500 million compared to the billions stolen in the South? It is not a point of discussion, but corruption in Nigeria is beyond the North. Okay

auwal87:

Shame on you Queen what ever, Who told you the North Central Governors adapt Shari'ah in their states, Shame on you, almost all Nigerian Governors, Chairman, Councillors, all those politicians are mostly corrupt, not only Muslims North, check every where, you will see corruption. And what is even 500 million compared to the billions stolen in the South? It is not a point of discussion, but corruption in Nigeria is beyond the North. Okay

whether he adapted shariah or not
shariah flows in his veins
It is part and parcel of that fraud called Islam
The northern oles have ruled Nigeria for most of the life of Nigeria.
Pray, did they give the stolen money to southerners?

These and more makes Niger Area (aka Nigeria) a failed Nation.

I believe you my Friend, but the same Islam Fraud drag your People bia bia bia to Dubai, Kuwait, Qatar, Riyadh, and all those successful Islamic states to find Jobs and cater for families. Listen, problem of Nigeria is not religion, it is the people and their Interest, people use Religion to dump people like you to think that religion is part of some hidden agenda or so.

Think again.

People like you never suggest solutions, but always look for ways to cause more tension.

E.g. You placed picture of a body without head which I can make in 5 minutes using Photoshop.

99.99% of Muslims cannot do that, and do not believe in that, while I know 50% of Christians can do that with few bucks.

Please may you start a Religious thread, because this is for Northern Thief, etc etc.

auwal87:

These and more makes Niger Area (aka Nigeria) a failed Nation.

I believe you my Friend, but the same Islam Fraud drag your People bia bia bia to[b] Dubai, Kuwait, Qatar, Riyadh, and all those successful Islamic states to find Jobs and cater for families[/b]. Listen, problem of Nigeria is not religion, it is the people and their Interest, people use Religion to dump people like you to think that religion is part of some hidden agenda or so.

Think again.

They make the money and flee.
Most of them there have their spouses and children in Britiain and America
That's what they go there to do,collect dollars as expatriates and be gone
smart southerners
Go to American embassies and British and Canadian embassies in the glorious lands of Pakistan,Iran,Iraq,Egypt and almost all of sharialand and see men and women trouping over themselves to get to the land of the infidels where women drive cars.

osisi na here you dey lol. so where did you get those pix from, the headless one?

abeg make I go hear Bush on TV

omoge:

osisi na here you dey lol. so where did you get those pix from, the headless one?

I can't even remember LOL
did you see the one where the man was rushing happily to make  fingers and toes peppersoup

bush don finish.

lol you eh, no let them put fatwa on ya o

Fact is, whether Kwara state is a sharia state or no sharia state, Kwara remains a northern nigeria states and there is no amount of twisting by anybody that can remove Kwara that position. The people of Kwara state are happy for their state to remain a northern state, they are happy to be northern people. Only some trouble making elements among them will want to lump Kwaran state into south west nigeria. I have never met a Kwara indigene that doesn't regard him or herself as a northerner. If majority of the people want to belong to northern nigeria, who are you to dispute their opinion? Visit Kwara govt. website and come back to tell us where they belong.

You will know how well it will fit into your current argument to say;

ALL NIGERIANS ARE FRAUDSTERS?
ALL PRIESTS ARE PEDOPHILES?
ALL MUSLIMS ARE EVILS?

Are you Happy?

The same way that make some IGNORANT think that All Nigerians are Fraudsters, is the same way that IGNORANT thinks that All Muslims are Terrorists.

Wake up!

auwal87:

You will know how well it will fit into your current argument to say;

ALL NIGERIANS ARE FRAUDSTERS?
ALL PRIESTS ARE PEDOPHILES?
ALL MUSLIMS ARE EVILS?

Are you Happy?

The same way that make some IGNORANT think that All Nigerians are Fraudsters, is the same way that IGNORANT thinks that All Muslims are Terrorists.

Wake up!

why are you putting words in my mouth?
did I say all muslims are evils
anywhere?
please quote me
those are your words o
I no wan make person come dagger me for my posturepedic bed
I said Islam is evil.
and anyone who follows it like Mohammed practiced it will be evil.
The so called moderates are not real adherents.
and I've proven this over and over again
we need more of them by the way.