http://www.thisdaylive.com/articles/oshiomhole-700-missing-from-sovereign-wealth-fund/220589/


Edo State Governor and Chairman of the National Economic Council (NEC) Ad-hoc Committee on the management of the Excess Crude Account (ECA) and related federation accounts issues, Comrade Adams Oshiomhole, has said that the Managers of the Sovereign Wealth Fund (SWF) cannot account for $700 million out of the $1billion contributed for the fund.


Oshiomhole who spoke to State House Correspondents at the Presidential Villa after a meeting with Vice President Yemi Osinbajo on Thursday night claimed that records made available to his committee showed that only $300 million was left in the fund.

This is contrary to the claims made by the Managing Director and Chief Executive of the Nigeria Sovereign Investment Authority (NSIA), Uche Orji, that the $1 billion seed fund had been invested and generated a profit of N15.7m into government coffers.


Oshiomhole however disclosed that the report submitted to his committee only reflected $300 million with the explanation that the money had been invested in the Second Niger Bridge and Abuja-Kaduna rail.



He however pointed out that the former Finance Minister, Dr. Ngozi Okonjo-Iweala, had earlier told the world that the Abuja-Kaduna rail was financed by a Chinese loan.

He said "I reported to the media that the Sovereign Wealth people in their report to us, which I have in black and white, showed clearly that they have only $300 million left in the Sovereign Wealth Fund account.


"We have it in black and white and I can publish it if anybody wants to deny that because it was not submitted to me secretly. It was submitted at plenary of the committee.

"And then we asked, because I knew that the fund was $1 billion, what was done with $700 million. And they said they have made some investments.


"We asked them what they invested in and they said the Second Niger Bridge and partially in Kaduna-Abuja rail. That is what they said and I was not alone there.”

K

Bros Oshiobaba, sorry to say this, that $700 million Don enter voicemail.

This man with the diarrhea mouth again? Please where is his young wife to cage him before he runs mad

Some idiots would soon come here and accuse Oshiomole for talking too much but their brains wouldn't bother to question what happened to the money in question. #EvilPeople

warrior01:
This man with the diarrhea mouth again? Please where is his young wife to cage him before he runs mad

Ok the man has mouth diarrhoea... we know that already. But please what do you have to say about the $700million?

obailala:
Ok the man has mouth diarrhoea... we know that already. But please what do you have to say about the $700million?

Abeg help me ask am ooo

Yawn...

Hate it or like it, any issue of fraudulent acts by way of stealing the people's money in this country which Oshiomhole is always raising, will surely come out as truth one day.

Minister of Attack, tell us something new joor

This was the same way they lampooned Mustapha Chike Obi with all kinds of spurious accusations before sacking a hard working man only to replace him with an ethnic henchman.. Then the erudite fellow that headed the debt management office.. Now they are after the proven technocrat at the sovereign wealth fund...If these guys are being replaced with their betters, i wont wail... but we all know the routine... This are well choreographed attacks against the reputation of very honest individuals who have done nothing other than serve their country to the best of their abilities, , This restless manikin from Edo government house needs to be stopped before he mischievously destroys the hard earned reputations of innocent men.. The Sovereign wealth fund is an investment portfolio that follows internationally agreed standards in investing Nigerias excess oil accruals in different promising ventures locally and abroad.

It is extremely wicked to suggest that the fund only made two investments since inception. The head of the fund. Mr Orji. (who by the way is from the 5 percent enclave) was recruited after a very rigorous recruitment process handled by an impartial international recruiting agency. We all saw the process play out. Many months ago, he made a public report as it regards the funds investments and earnings. How then can Mr Oshiomohle be so callous in his attempt to malign other peoples characters? How can he say the fund only invested in the second Niger bridge? Why is Mr Oshiomohle mad about the second Niger bridge?? He went after Iweala and got floored mercilessly now he is after Orji. All along, he has been dumping all kinds of negative sentiments on the second Niger bridge.. Whose hatchet job is Mr Oshiomohle prosecuting

Osho don high gulder beer again...

Another one again? Chisos!!!

If I may ask, Is second Nigeria bridge not a investment? The percentage of the toll when collected goes back to sovereign wealth fund.

Is Oshemohle thinking that the cash will be stocked somewhere to grow like plants.

Whether the money is in cash or railway and Niger bridge, all are investment with high yield and commensurate return on investment.

IsraeliAIRFORCE:
If I may ask, Is second Nigeria bridge not a investment? The percentage of the toll when collected goes back to sovereign wealth fund.

Is Oshemohle thinking that the cash will be stocked somewhere to grow like plants.

Whether the money is in cash or railway and Niger bridge, all are investment with high yield of return on investment.

Did you even read the article? Osho was told it was $1b that was invested but what was actually met was 300million, please explain what happened to the 700million

Yeske2:
Did you even read the article? Osho was told it was $1b that was invested but what was actually met was 300million, please explain what happened to the 700million

Didn't you read where he made mention of Chinese bank financing railway as a testament to his denial of any investment by the SWF Managers on the Railway and the Bridge?

He is just trying to deceive the gullible into believing that some of those investments were actually capital expenditures and are gone with the winds as the FG can't recoup the investment.

Read inbetween the lines

IsraeliAIRFORCE:


Didn't you read where he made mention of Chinese bank financing railway as a testament to his denial of any investment by the SWF Managers on the Railway and the Bridge?

He is just trying to deceive the gullible into believing that some of those investments were actually capital expenditures and are gone with the winds as the FG can't recoup the investment.

Read inbetween the lines

Read it up again please and thank me later

With another bailout package around the corner, the Ex-Edo state govenor is right on cue. He only opens his dirty dwarfish mouth when Baba Dee is about to turn ATM to the spendthrift Govenors. This dwarf of a tyrant will squeeze out gold, diamond and dollars before the PDP kicks that Demonic APC party out of Edo state.

Basket mouth don want to sing again oooooooo
Ooooooooooooo

I go open my mouth like basket oooooo

Ma lanu bi apere.....