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Ribadu: Alleged N30trn Missing under Okonjo-Iweala Impossible

03 Feb 2015
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Former Chairman of the Economic and Financial Crimes Commission (EFCC), Mallam Nuhu Ribadu

Ndubuisi Francis in Abuja

A former Chairman of the Economic and Financial Crimes Commission (EFCC), Mallam Nuhu Ribadu, has stated that it was impossible for N30 trillion to be ‘missing’ from the nation’s treasury.

A one-time Governor of the Central Bank of Nigeria (CBN), Prof. Charles Soludo, had in an article alleged that “over N30 trillion is missing or stolen or unaccounted for, or simply mismanaged” under the watch of the Coordinating Minister for the Economy and Minister of Finance, Dr. Ngozi Okonjo-Iweala.

Ribadu, in an interview with the News Agency Nigeria (NAN) in Abuja said: “I was baffled and got deluded for anyone to say that N30 trillion got lost. I think we just have to look at what we earn as a country and what our budget had been in these few years, and see how possible it is and if everything we earned is not up to that within the period she has been the minister, which is about three to four years, (how can that be?)

``And for somebody to say that N30 trillion is missing is baffling, especially if you know what our budget is these years. We need to be careful to avoid more damage to our nation because there are certain things that when it comes out, it will never go back again,’’ he said

Ribadu stated that while working under former President Obasanjo, Okonjo-Iweala was the leader of the Economic Management Team and coordinated the economic policy of the administration effectively.

``I challenge anybody to say that she stole N1 at that time; we were all there. I was in charge of EFCC and I want to hear anybody say that she did this and that.

``And I followed her up till now; I think it is somehow uncharitable for someone to come out to say that such an amount of money was missing under her watch,’’ he said .

Ribadu, who is also the governorship candidate of the Peoples Democratic Party (PDP) in Adamawa State, said it was unfortunate for such controversies but noted that Okonjo-Iweala was one of the most respected Nigerians with unimpeachable integrity.

He added that when he worked with her, she exhibited a nationalistic attitude that was not questionable and believed in any policy that could take Nigeria and its people high.

http://www.thisdaylive.com/articles/ribadu-alleged-n30trn-missing-under-okonjo-iweala-impossible/200886/

debeginin:
I had always known Ribadu to b a fraud.Remember him been taken to d cleaners by d anchor of ONE ON ONE on NTA when he was still EFCC BOSS.He said Bode George nv stole a dime as NPA BOSS bt we all knw d story hw Bode George was later inprisoned.

Shell Nigeria loses 50,000 bpd to oil theft in '04
27 May 2005
Author: Tom Ashby
Country: All

LAGOS - Nigeria's largest oil producer, Royal Dutch Shell, lost about 50,000 barrels per day (bpd) of crude oil to organised theft in 2004, roughly steady on the year before, it said in its annual report.

Extrapolated to the whole industry in Africa's largest oil producer, the Shell estimate indicates that Nigeria loses about 125,000 bpd, worth $2 billion a year, to organised crime.

"There were periods of high theft activity, peaking at 60,000 bpd and low periods of 40,000 bpd, which compares to 100,000 bpd and 20,000 bpd respectively in 2003," Shell said in its annual report for Nigeria released on Friday.

Analysts and rights groups have accused high-ranking Nigerian government and military figures of involvement in the illicit trade, which is also linked to big international networks capable of exporting the oil to refineries abroad.

The high level of oil theft is one cause of a massive influx of sophisticated military hardware to militant groups in the Niger Delta, analysts say, where hundreds of people die every year because of ethnic, communal and political fighting.

These groups often play on feelings among residents of the impoverished wetlands that they are being cheated out of the huge riches being pumped from their tribal lands. Militant groups frequently resort to kidnapping, extortion, sabotage and occupation to get their point heard.

Shell said that the Nigerian security forces had intensified efforts to reduce crime in 2004, although the security situation in the inaccessible region was mixed.

"During the year, 32 barges, six ships, six tugboats and 10 road tankers were seized, together with 63 suspects arrested (two of whom were senior naval officers)," Shell said.

SEIZURE

In Nigeria's largest ever seizure of stolen crude, two senior naval officers were court martialled for their involvement in the disappearance of a seized oil tanker impounded for smuggling 11,000 barrels of oil.

The tanker is still missing.

Shell said there were a lower number of security breaches in the western end of the delta around Warri, but a rising number of "ethnic warlords" on the waterways in the eastern part around Port Harcourt.

"Criminals used the cover of ethnic conflicts to undertake crude oil theft," Shell said.

The number of community-related disruptions, including the forced closure of facilities, seizure of assets, blockades and disruption to drilling, increased by 10 percent to 176, the report said. But the amount of oil lost from these events fell sharply, from 45 million barrels in 2003 to 5.2 million barrels last year.

The number of Shell staff and contractors killed rose to 12 in 2004, from 11 the year before, from a total of 314 criminal incidents.

The company recorded a small drop in the amount of oil spilled in 2004, to 8,300 barrels from 9,900 barrels. It said 97 percent of the spilled volume was caused by sabotage.

rozayx5:


Soludo the failed politician should go and sniff weed with thiefnoboo


GEJ represents CHANGE

jbaby265:
what is wrong with that woman...money missing at this critical time