Since 1960 when Nigeria got independence from the British to present,$582 billion dollars has been looted by the fantastically corrupt politicians and former military generals. The concealment of the origins of the illegally obtained money is done through multiple stages :
https://www.thecable.ng/chatham-house-582bn-stolen-from-nigeria-since-independence

1)The sources of illegal income come from embezzlement,drugs,bribery,fraud,tax crimes and through illegal acquisition of state assets such as an oil block without competitive bidding
2) The next stage is the deposit of proceeds into the financial system. Goverment officials-Presidents,Governors,Ministers,Senators,House of Representative members,Commissioners,former Military Administrators etc use fronts, who are individuals they use to hide any trace of the illegal income or asset they obtained such as oil block. These fronts are household names known to some Nigerians as overnight billionaires who make news headlines by starting oil companies,banks,shipping lines,construction companies,airlines,hotel chains,filling stations,insurance companies,housing estates etc
3) Next they have to conceal the criminal origins. They use wire transfers to split the illegal income between several accounts.
4) The final stage is the creation of multiple layered shell companies to further conceal any trace to them. All their bank accounts, cars,houses,private jets,investment in shares are acquired through multi-layered shell companies registered in Nigeria or foreign jurisdictions such as in United Arab Emirates,Cayman Islands, Panama,Virgin Islands etc.

This is a breakdown of what Allen Onyema is being accused of by the Department of Justice in the United States.
-That he setup Springfield Aviation Company LLC a shell company in Atlanta,USA. And sent an invoice to Air Peace in Nigeria from Springfield Aviation Company LLC and used that invoice to generate a letter of credit. Through that letter of credit he was able to transfer funds from Nigeria to USA.
-Out of the $20 million dollars he was able to transfer through the letter of credit, $16 million dollars was transferred to several different bank accounts and not used for the intended purpose.

Frontpage Lalastiscala

Yes o.
Name them, the adenugas, dangote, virtually all Nigerian billionnaire executives launder money for politicians. I will rule out innoson because, he would have been pulled down during his fight with gtb had he been into money laundering.

The rest, I'm not sure. People like Ned nwokoro, okorocha ,all northern billionnaire are deep into this shit. What a country

I believe Nigeria should be the only country in the world where most richmen have no business addresses or business history. While some only have strong ties with the govt, others just became rich overnight.

Ibo people sef... so because Onyeama was caught suddenly all billionaires are corrupt? you better dont get sued



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solmusdesigns:




Ibo people sef... so because Onyeama was caught suddenly all billionaires are corrupt? you better dont get sued



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[/s]

This op is efcc

oz4real83:
I believe Nigeria should be the only country in the world where most richmen have no business addresses or business history. While some only have strong ties with the govt, others just became rich overnight.

The estimated amount of money laundered globally in one year is 2 - 5% of global GDP, or $800 billion - $2 trillion in current US dollars.
Nigeria is regarded globally as one of the money laundering capitals of the world. The European Commission added Saudi Arabia, Panama, Nigeria and other jurisdictions to a blacklist of nations seen as posing a threat because of lax controls on terrorism financing and money laundering in February this year.
https://www.unodc.org/unodc/en/money-laundering/globalization.html
https://www.cnbc.com/2019/02/14/eu-adds-saudi-arabia-to-dirty-money-blacklist.html

solmusdesigns:




Ibo people sef... so because Onyeama was caught suddenly all billionaires are corrupt? you better dont get sued



..

Do igbo's give you sleepless nights?Why do you assume everyone is Igbo

SadiqBabaSani:
This op is efcc

EFCC should be disbanded. It only goes after Yahoo boys and not the real money launderers.

There is no single role-model in this country. Show me a man that rose from the scratch to a billionaire without stolen money in this Nigeria.

So hard to find. Some where along the line, he must have romanced with the evil men. Nawa

DDeliverer:
There is no single role-model in this country. Show me a man that rose from the scratch to a billionaire without stolen money in this Nigeria.

So hard to find. Some where along the line, he must have romanced with the evil men. Nawa

The Nigerian system is structured in a way where corruption is legal and no corrupt politician or former military general will ever go to jail or have their assets seized.

sparog:

sassysure:
Yes o.
Name them, the adenugas, dangote, virtually all Nigerian billionnaire executives launder money for politicians. I will rule out innoson because, he would have been pulled down during his fight with gtb had he been into money laundering.

The rest, I'm not sure. People like Ned nwokoro, okorocha ,all northern billionnaire are deep into this shit. What a country

Take Adenuga out of it and include otedola.. Adenuga, Innoson, the man that owns Orange drugs and some very few Igbos are the only clean billionaires we have in Nigeria. The rest especially the northerners are scammers

The reason why lots of Nigerian youths engage in online fraud is because there are no true role models who can actually write a book on the process in which they made their wealth.

It has always been "it is the grace of God", or "God did it for me".

FrLukas:
The reason why lots of Nigerian youths engage in online fraud is because there are no true role models who can actually write a book on the process in which they made their wealth.

It has always been "it is the grace of God", or "God did it for me".

djdutchbrah:

sodiqapril:

Take Adenuga out of it and include otedola.. Adenuga, Innoson, the man that owns Orange drugs and some very few Igbos are the only clean billionaires we have in Nigeria. The rest especially the northerners are scammers

how did he get opl licence in 1990 Why was he arrested in 2009 Why is his edifice in VI BELLA house still seized What happened with his etb bank Bros wake up

sassysure:
Yes o.
Name them, the adenugas, dangote, virtually all Nigerian billionnaire executives launder money for politicians. I will rule out innoson because, he would have been pulled down during his fight with gtb had he been into money laundering.

The rest, I'm not sure. People like Ned nwokoro, okorocha ,all northern billionnaire are deep into this shit. What a country

solmusdesigns:




Ibo people sef... so because Onyeama was caught suddenly all billionaires are corrupt? you better dont get sued



..

Google EFCC case with Otedola, the world knows how Tinubu made his money, same as Dangote,
I hope you know Adenuga Glo license was bought with PTDF fund by Atiku

sodiqapril:

Take Adenuga out of it and include otedola.. Adenuga, Innoson, the man that owns Orange drugs and some very few Igbos are the only clean billionaires we have in Nigeria. The rest especially the northerners are scammers

Kindly Read Femi Otedola’s Dirty Deals


Femi Otedola needs to stop regaling the public with rooster and bull stories. If we are to believe him, then in the past few months, his life has become an intriguing Nollywood movie. After he claimed that a mysterious Alhaji tried to convince his butler to poison him, he fled to the United Kingdom and promised to remain there till the police solved the case. When I first heard that remarkable story, I wondered why the newly named “Forbes” billionaire did not simply arm his butler with a surveillance device and instruct him to get some evidence of the conspiracy on tape. That way, Otedola would have been able to back his incredible tale with some proof.

Otedola did not stop there. He cooked up another creative ploy to tarnish the image of Alhaji Aliko Dangote, a towering industrialist whose philanthropy and dedication to Nigeria has added great value to the Nigerian economy. Through African Petroleum, the oil company which he controls, Otedola placed some advertisements in leading Nigerian newspapers claiming that Dangote and Nova securities were responsible for the steep fall of AP’s share price on the Nigerian Stock Exchange. The company supported its claim with CSCS statements purportedly belonging to Dangote and Nova Securities and asked the SEC to launch an investigation.

The SEC investigated the allegations and concluded that there was no proof that Dangote instructed his stockbroker to manipulate AP’s shares. It also concluded that the CSCS statements were fraudulently obtained and fined AP and NOVA for their respective offences. They also barred NOVA Securities from operating in the stock market for a certain period of time. Since then, Otedola has allowed his odium for Dangote drive him into a maniacal rage that could eventually result in self-immolation.

The truth is that Otedola is Nigeria’s greatest manipulator and economic saboteur. With the backing of some powerful government officials, he singlehandedly bullied Peter Okocha’s Sadiq Petroleum into selling its stake in AP and then manipulated the company’s stock to abnormal heights prompting an SEC investigation. He the colluded with Afribank Registrars to withhold share certificates from investors who wanted to sell their shares. When the stock market collapse sparked a run on the stock exchange, shares of companies like AP were the first to fall.

Instead of admitting that AP’s shares were manipulated, Otedola decided to accuse Dangote of being behind the fall simply because his plan to buy Chevron Texaco’s marketing arm had been thwarted by Sayyu Dantata, a relative of Dangote. Femi Otedola’s willingness to destroy Dangote at all cost is becoming a matter of national security. We understand that he has threatened to do everything within his power to destroy Dangote’s businesses. Otedola should remember that the Dangote Group is one of the major pillars of the Nigerian economy and that any attack on Alhaji Aliko Dangote is an attack on Nigeria.

Unlike Otedola, whose shameless racketeering and price-fixing is destroying the economy, Dangote has invested a lot of money in the real sector and is a role model for future generations. We are worried that Otedola’s envy could soon blow over and propel him to do something that he would forever regret. Last year, he announced a much publicized 2 billion naira investment in the sugar and cement sectors ostensibly to crash the prices and make life easier for the common man. He then launched an intensive advertising campaign promoting Otedola Portland Cement. Dangote did not try to stop him because as a true capitalist, he believes in healthy competition. However, Otedola is yet to produce a single bag of cement or one cube of sugar.

In order to understand Otedola’s animosity towards Dangote, it is pertinent to examine the cause of this crisis. Sometime last year, Chevron Global Holdings announced that it had sold 60% of its Nigerian subsidiary to Corlay Global SA and Petrocci Holdings, companies controlled by Sayyu Dantata, a nephew of Dangote who is a billionaire in his own right. When Otedola heard the news, he went ballistic and claimed that Dangote had stabbed him in the back by using Sayyu Danatata as a front to clinch the deal. He claimed that he had discussed his strategy with Dangote and that they had a gentleman’s agreement that they wouldn’t encroach on each other’s business.

Since then Otedola has launched a war against Dangote by sponsoring media attacks against him and generally impugning his character. Otedola does not understand that Aliko Dangote and Sayyu Dantata are two different people. Sayyu Dantata is an independent and successful businessman who takes his own decisions. Even if he wanted to, Dangote cannot stop him from buying something that he wants. He does not need Dangote’s support to obtain financing from Nigerian banks. According to industry insiders, his turnover for last year was almost 200 billion naira.

Otedola on the other hand is a crooked businessman who has gained a reputation for selling adulterated diesel products and sabotaging Nigeria’s power plants. His main reason for attempting to buy Chevron Texaco was to keep the price of diesel unnaturally high thereby increasing the operating costs of Nigeria’s struggling industries. Nigerians should be grateful to Sayyu Dantata for saving them from this incorrigible monopolist. He should leave Aliko Dangote alone. Dangote has distinguished himself as a great Nigerian who has provided employment for numerous Nigerians.

Otedola parlayed the money that his father took from Lagos. We remember when Otedola was a printing consultant hanging around Global Excellence’s offices and begging Mayor Akinpelu to get jobs for him. Now that he is wealthy, he has become a monster who routinely arrests his workers and once beat up a reporter for daring to take photographs of his house. He is also a known pervert who has subjected his wife to years of abuse and even sleeps with Zenon’s married company secretary, Yewande Giwa

Obasanjo enriched Dangote, Otedola, Andy Ubah, Adeleke family and others during his privatization scams

List of Nigerians mentioned in Panama Papers with Shell companies.
https://www.premiumtimesng.com/category/panama-papers

djdutchbrah:

The Nigerian system is structured in a way where corruption is legal and no corrupt politician or former military general will ever go to jail or have their assets seized.

Is that so, why did you not join the army, or become a so called politician, aren't you a Nigerian over 18 years of age, so you could enjoy your imaginary immunity?

rexwalters:
Is that so, why did you not join the army, or become a so called politician, aren't you a Nigerian over 18 years of age, so you could enjoy your imaginary immunity?

Why are the fantastically corrupt polticians that have looted $582 billion dollars since 1960 still walking the streets free?They have immunity

sassysure:
Yes o.
Name them, the adenugas, dangote, virtually all Nigerian billionnaire executives launder money for politicians. I will rule out innoson because, he would have been pulled down during his fight with gtb had he been into money laundering.

The rest, I'm not sure. People like Ned nwokoro, okorocha ,all northern billionnaire are deep into this shit. What a country

you no mention the name complete now. E remain Alakija, Otedola and more other yoruba business person now. Eleribu oshi.

E be like say you don run out of conspiracy.

lemme form one for you, you remember an ibo person was voted for to hold a top office in U.S recently? Now the U.S has seen that just like IIlah Omar, that ibo person too is comming to make his culture and belief popular using his office hence they start to jealous and hate his isi agwu since it will soon take over America stores so they accept to bring him down by bringing his businessman brother that is growing too much wings in the aviation industry in Africa too.

That's why, you don't know America, they hate, envy and jealous more than Afonja useless country. Now we can't depend on them as ally again.

Oloribu oshi.

ibo people sef, onyeama ruffled them now they want to justify his crime because people own ofshore account

for you info, many people own ofshore accounts to hide asset from divorce, or simply to preserve wealth out of the pry eyes of wicked criminals

David Camerons dad also has his ofshore account and company leaked


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TundeBricklayer:
Obasanjo enriched Dangote, Otedola, Andy Ubah, Adeleke family and others during his privatization scams

buh this are not the people indicted in the U.S now or why disturbing us with their names now?
ibos please go and open your own forum, you are causing headache for sane people on this forum.

sassysure:
Yes o.
Name them, the adenugas, dangote, virtually all Nigerian billionnaire executives launder money for politicians. I will rule out innoson because, he would have been pulled down during his fight with gtb had he been into money laundering.

The rest, I'm not sure. People like Ned nwokoro, okorocha ,all northern billionnaire are deep into this shit. What a country

Like if they put you in formation you won't toe the line.....all man na thief....na who dem catch be barawo.

leokid866:


Like if they put you in formation you won't toe the line.....all man na thief....na who dem catch be barawo.

Speak for yourself.