theoctopus:


The result is already out and there was no missing money anywhere. That is why OBJ asked Soludo to go release another 30 trillion scam.

The PWC report recommended that NNPC return $1.48bn dollars (300bn naira) to the exchequer.

So..there was missing money....and NNPC has a lot to answer for...and SLS was vindicated in a way.(was not up to 20bn).

Still...that was just the highlights.

Some punks who reason with their asses won't believe this.

geedeex2:
Transparency international ,you can't tell us what we know .GEJ Government is more corrupt than all the other administrations we have had in Nigeria put together

This is ur biggest problem cuz u never want to learn good thing ,but u chose to stick with d old ways & ignorance which will set u back in a time to come, better think right & stop jumping over a matter without thinking over it & before judging it.

geedeex2:
Transparency international ,you can't tell us what we know .GEJ Government is more corrupt than all the other administrations we have had in Nigeria put together

u've been deprived of education and sound reasoning, pls get one.
Market women type of comment

Better View

GEJ team were powerful enough to infiltrates Transparency international

bushdoc9919:


The PWC report recommended that NNPC return $1.48bn dollars (300bn naira) to the exchequer.

So..there was missing money....and NNPC has a lot to answer for...and SLS was vindicated in a way.(was not up to 20bn).

Still...that was just the highlights.

Please read again. That was not missing money. That was money yet to be remitted. They dont remit money immediately it gets into their hands. There is a window of bereaucracy between when they receive payments and when they remit same. Thats what the report said. There was no missing money. Get your facts right

WisdomFlakes:
LOL. You GEJ boys are something else. No matter the amount of soap, be it Omo, Sunlight, or whatever wey Una try use wash GEJ administration from corruption, e no fit clean.

When Una cough out the missing $20billion, N30 trillion, among others, then we can sit down and talk.

Until then, GEJ administration remains the most corrupt in Nigeria history, that is a fact the TIs of this world cannot sugarcoat

anoda knowledge deprived entity on d loose

Good enough buhari has ruled Nigeria before,but since
he has been campaigning I v not heard him mention
one developmental project he started or completed all I
hear him say is that he made a decree to kill drug
pushers and he imprisoned people that where against
his tyrant govt,incase u where not born then,some of
the innocent Nigerians buhari imprisoned are-Ambrose
Ali,Sam Mbakwe,Chief Alex Elweme,Fela Anikulapo
Kuti,Chief Obafemi Awolowo,Pa Adekunle Ajasin,Sheik
Gumi,Chief Bola Ige and many more.Buhari is just a
desperate man he has nothing to offer

theoctopus:


Please read again. That was not missing money. That was money yet to be remitted. They dont remit money immediately it gets into their hands. There is a window of bereaucracy between when they receive payments and when they remit same. Thats what the report said. There was no missing money. Get your facts right

And how long is that supposed to take?

(Bureaucracy....is that a new term for....you know?)

You may think nothing is happening...but me...I prefer to remain suspicious of the NNPC. (And my suspicions go way back before GEJ)

In Fela s voice: Teacher (Transparency international), no teach me nonsense!

genearts:
TI was 1st launched in 1993

http://en.m.wikipedia.org/wiki/Transparency_International

http://www.transparency.org/whoweare/history

Another trash moved to fp.

do u lack knowledge this much? Even though it was launched in 2015 don't u know it can gather data n info from previous administrations and access them?

President Obasanjo used his position to corner considerable shares of Transcorp, a blue chip company that was formed overnight to corner juicy contracts and make fat company acquisitions. It was incorporated in November 2004 and officially launched on 21 July 2005, at the Presidential Banquet Hall, State House, Abuja, with Obasanjo as the special guest of honour.

The Transcorp matter was so serious that Chief Gani Fawehinmi, the human rights lawyer, dragged the former president to the Code of Conduct Bureau. He wanted Obasanjo tried over the activities of Transcorp and his shareholding in the company seized or forfeited to the federal government as provided for under item 18(2)c of the Code of Conduct for public officers contained in the fifth schedule, part 1 of the 1999 Constitution.

Fawehinmi lamented that during its formal launch on Thursday 21 July 2005, Obasanjo announced some concessions to the corporation as part of government support and encouragement.

These include: Licence to build a 400,000-barrel per day refinery, licence to build an independent power plant, access to the federal government cassava project for the construction of cassava processing exports facility, designed land mass for the construction of free port facilities, continued support to help open up market on the African continent and to make Transcorp a partner in Nigeria’s current policy on private/public partnership, creating additional opportunities to develop large scale projects in oil and gas, power and information and communications technology, ICT.

As Fawehinmi put it, the company acquired three prime business interests from Nigeria: four oil blocks, OPL218, 219, 209 and 220 allocated to it on 21 July 2005 by Obasanjo when it was launched; Nicon-Hilton, Abuja in October 2005 for $105million and NITEL on 3 July 2006 for $750million.

The lawyer noted that the Director-General of the Nigerian Stock Exchange, NSE, and Chairman of Transcorp, Dr. Ndi Okereke-Onyiuke, admitted before the House of Representatives that the former president is a subscriber to Transcorp through Obasanjo Holdings Limited.

He added that, the admission by the Trustees–Elder Daniel Atsu and Barrister Lucky Egede–of Obasanjo Holdings Limited compounds the constitutional illegality of the ex-president’s involvement in Transcorp. Obasanjo Holdings Limited, the lawyer maintained, is the nominee of President Olusegun Obasanjo in Transcorp and acts on behalf of the president as a cover.

He argued: “for the president to allocate oil fields or blocs as the Minister of Petroleum Resources to Transcorp, a company in which he has substantial shares, is clearly an abuse of office contrary to section 15(5) of the Constitution of the Federal Republic of Nigeria, 1999 which provides that, “the state shall abolish all corrupt practices and abuse of power.”

The former president used his influence to sway the purchase of NITEL and Nicon-Hilton Hotel in favour of Transcorp, a practice which Fawehinmi regarded as “a corrupt act and violation of the code of conduct.”

The Presidential Library

When Obasanjo launched his N7 billion library project, government contractors, banks, businessmen, governors, government functionaries and hangers-on fell over one another to donate N4 billion, while the oil majors operating in Nigeria put in US$20 million. Those who donated were a consortium of banks – N622million; 36 state governors – N360million; MikeAdenuga-N250million; Aliko Dangote and friends- N200million; Femi Otedola- N200million; Nigerian Ports Authority, NPA community- US$1million; Ogun State governor-N100million; Obasanjo Holdings- N100million; Sunny Odogwu-N100million; Arisekola Alao-N100million etc.

Also, Fawehinmi took Obasanjo to court, saying that he abused his office and violated the constitution because, the presence of the big donors meant he used his office to “force” out the money from the corporate organisations and those seeking one favour or the other.

Excess Crude Account

When he was in power, Obasanjo withdrew N2.1billion from the excess crude oil funds. That was in March 2006, when he explained that he wanted to use the money to supplement the cost of the extension of the national census. However, the former Nigerian leader failed or refused to inform the National Assembly or those who elected him into power for almost three months.

It was only after the Senate Committee on Finance and Appropriation began to turn its gaze in that direction that Obasanjo wrote a letter to the House of Representatives, claiming $17,290,067 (about N2.1 billion) was withdrawn after he had convened an emergency meeting of the stakeholders–some state governors and the Revenue Mobilisation Allocation and Fiscal Commission members.

However, analysts maintained that Section 80(3) of the 1999 Constitution states that no monies shall be withdrawn from any public fund of the federation, “unless the issue of those money has been authorised–not by governors or stakeholders–by an Act of the National Assembly.”

bushdoc9919:


And how long is that supposed to take?

(Bureaucracy....is that a new term for....you know?)

You may think nothing is happening...but me...I prefer to remain suspicious of the NNPC. (And my suspicions go way back before GEJ)

The point is simple. I cannot stand here and tell you there is no corruption in government or NNPC. But the accusation from Sanusi was false. YOu cannot say that because there is corruption in government then anybody can just throw any accusation on anyone and mudsling them and you the audience will just swallow it hook line and sinker. Thats not the way to do things

Petroleum Trust Development Fund, PTDF

Obasanjo was the first to stir the hornets’ net on this matter when he accused Vice President Atiku Abubakar of corrupt enrichment. According to the EFCC document which Obasanjo dangled with glee, Atiku was alleged to have diverted a sum of $125 million approved for the operation of the PTDF to the Equatorial Trust Bank, owned by Otunba Mike Adenuga, and Trans International Bank, TIB, which, thereafter, gave N400 million to MOFAS Shipping Company, owned by Otunba Oyewole Fasawe. EFCC also connected Adenuga’s payment of $20 million for his Globacom licence to PTDF money lodged in his bank.

From October 2003, according to the document, MOFAS paid more than N500 million to Umar Pariya, Personal Assistant to the former Vice-President, while N61 million was paid by the company directly to Atiku and N60 million directly to Musa Garba, a contractor who works for Atiku’s ABTI American University. Atiku responded with a ballistic missile that threw Obasanjo off his perch. Speaking through his media aide, Garba Shehu, Atiku said that Obasanjo, his family, businesses, native community and the Peoples Democratic Party, PDP, benefited from the PTDF money.

He revealed that Bodunde Adeyanju, Obasanjo’s Personal Assistant, made over 100 visits to TIB, Abuja, located at Tofa House in the Central Business District, between 1999 and 2004. “The truth of the matter is that there is a big linkage between Chief Obasanjo and Otunba Fasawe, contrary to the claims that the President has made.

There are cheques worth over N100 million issued to IBAD Nigeria Limited, a construction company solely owned by Obasanjo, from Fasawe’s MOFAS TIB accounts,” Garba revealed.

Shehu charged further that Fasawe made some direct payments to Obasanjo’s Africa Leadership Forum, ALF, and to the Obasanjo Campaign Organisation. “Also, a TIB Abuja branch cheque of N4 million was issued to Ibogun-Olaogun Development Association on 26th February, 2004. Ibogun-Olaogun is Obasanjo’s village,” Garba added for effect.

Garba spilled the beans further, claiming that from 1999 to the elections in 2003, Adeyanju, on behalf of Obasanjo, collected over N3 billion from MOFAS account at TIB, Abuja branch. Atiku further revealed to the Senate Committee on the Fund how Obasanjo paid a staggering N250 million of PTDF money to a lawyer to register a company, Galaxy Backbone.

Its a lie! Transparency Intl didnt indict Buhari. Check the source of this news in the link provided. Its suspect and without credibility. One of those PDP websites for smear propaganda.

That is how APC,s packages of lies would be bursted one by one.

GEJ till 2019

So people actually bought this fake news?
Nigerians are so gullible.
They won't even make an attempt to verify before shouting.
I guess that's why we have the kind of leaders that we do.
SMH!

Look very well.
How much changes did Buhari bring in 18 months, and how much did Jonathan bring in 6 years?
Are we saying all the trillions are not missing?
Nigerians are no fools.

NNPC Funds

Like a possessive, jealous husband, Obasanjo clung to the Ministry of Petroleum Resources under which is the Nigerian National Petroleum Corporation, NNPC. Chief Audu Ogbeh once told TheNEWS: “I was National Chairman of PDP for over three years. I was also honorary Special Adviser on Agriculture.

I know and I was told by many ministers that President Obasanjo did not for once bring any memo for the award of oil bloc or contract in the petroleum sector to council.”

Obasanjo, through his Chief of Staff, General Abdullahi Mohammed (retd.), allegedly used the NNPC to unilaterally award contracts without regard to tender or competitive bidding. As reported by this magazine in the past, Mohammed, in a letter entitled, “Request for Revalidation of Approval for NNPC funding on the Nigerian Navy” and dated 18 August 2006, merely stated the importance of procurement of spare parts for the Navy and Obasanjo directed NNPC to award the contract.

Ten days later, Mohammed approved a contract for the local refit of NN ships and procurement of spare parts at the cost of N4.63 billion.

Obasanjo also wrote a letter to the then Group Managing Director, NNPC, Engineer Funso Kupolokun, asking the corporation to fund the training of 50 individuals and establish media and operational centres in Abuja, Warri and Port Harcourt for N1.19 billion.

This lack of due process also manifested in the award of contracts handled by Kinetic Ltd., which supplied 193 Cobra Armoured vehicles for the Nigerian Army at the cost of $35.7 million and was paid through Bankers Guarantee No. 550-0-0446905 with Invoice No. STK/2007/088B.

This contract was fixed in January 2007 by the former Chief of Army Staff, Major-General Owoye Azazi, on behalf of the Federal Government. Singapore Kinetics was, through the NNPC, given an “advance payment”of $35.7million.

Falana, in his suit, alleged that from 1999 to 2007, Obasanjo had withdrawn over N1trillion unauthorised and un-appropriated by the National Assembly, from the NNPC account and the Federation Account.

I'm telling you...this FOI bill GEJ enacted is really his undoing. Other administrations have done worse especially during the Military but no account..basically no proof to expose those crooks with. Unfortunately in GEJs tenure everyone is now an audit/accountant general, calculating money before the FG even makes it. Na chop clean mouth everybody dey do before...imagine Buhari claiming Intergrity, who was checking him in 1984?? OBJ too who was a President and Petroleum Minister has the nerve to open his decayed mouth. It is not their fault, really it isn't.

eazydon:


You must be very daft. Did this subsidy scam happen during GEJ or he is the one that uncovered the huge scam going on all these years? Mugu

My friend you are the best that has happened to this thread.

Leave all these APC people to blindness.

They just read headlines news without critically looking at the content and come here to write hogwash write ups.

Thanks for this expository .

Kudos!

WisdomFlakes:
LOL. You GEJ boys are something else. No matter the amount of soap, be it Omo, Sunlight, or whatever wey Una try use wash GEJ administration from corruption, e no fit clean.

When Una cough out the missing $20billion, N30 trillion, among others, then we can sit down and talk.

Until then, GEJ administration remains the most corrupt in Nigeria history, that is a fact the TIs of this world cannot sugarcoat

I wonder where people like u get free data to make very sensless,unreasonable comments let me inform you, the fourth largest Audit firm in the world pricewaterhousecooper
carried out an Audit of NNPC and came with a report that what was missing was less than 2billion dollars. So where is the hypothetical 20billion coming from

kenex4ever:
do u lack knowledge this much? Even though it was launched in 2015 don't u know it can gather data n info from previous administrations and access them?

WTF are u tlkin abt?? Give me a link to were u and ur e.diots got that statistics from?? They did not stretch their research to MM or Azikiwe era bt started from shagari, wat a coincidence! Fool

[size=15pt]Tinubu has bought over the media to
shun out lies to gullible Nigerians[/size]

Money Given To Ghana

Obasanjo, in July, 2004, whimsically granted Ghana and the Republic of Sao Tome and Principe $45 million loans. It was after questions were raised that he rushed to the National Assembly. Ghana’s share of $40 million was to help it complete its part of financing of the West African Gas project while the remaining $5 million was to enable Sao Tome and Principe tackle some immediate problems.

Other Withdrawals

On 9 September 2005, Obasanjo wrote a letter to the Senate, requesting approval to withdraw $2.4billion from the account as the government’s counterpart fund for the Power Sector Development Scheme, PSDS, and $12.4 billion to offset Nigeria’s debt to the Paris Club. Although the Senate approved the $12.4 billion to settle the balance of the debt owed the Paris Club, it resolved that this was possible after it had been appropriated by relevant authority as required by law.

But Obasanjo withdrew the $12.4 billion from the Federation Account, instead of the Consolidated Revenue Fund Account, which the upper legislative chamber recommended, and he also took $2.4 billion PSDS fund without waiting for the approval of the relevant authorities.

That time, Chairman, House of Representatives Committee on Public Finance and Appropriation, Farouk Lawan, argued that Obasanjo’s action was illegal. He wondered why, for instance, Obasanjo’s “request for fund outside the Appropriation Act was never brought to the National Assembly for consideration and possible approval.”

tonytony208:


but where are those farmers benefiting from the fertilizer distribution? Why arent they speaking up? Why arent dey campaigning for GEJ in their own little way?

Not so sure farmers in rural areas, even d real voters come to NL

WisdomFlakes:
LOL. You GEJ boys are something else. No matter the amount of soap, be it Omo, Sunlight, or whatever wey Una try use wash GEJ administration from corruption, e no fit clean.

When Una cough out the missing $20billion, N30 trillion, among others, then we can sit down and talk.

Until then, GEJ administration remains the most corrupt in Nigeria history, that is a fact the TIs of this world cannot sugarcoat

I wonder where people like u get free data to make very sensless,unreasonable comments let me inform you, the fourth largest Audit firm in the world pricewaterhousecooper
carried out an Audit of NNPC and came with a report recommending that NNPC
return $1.48bn. So where is the hypothetical 20billion coming from

tonytony208:


but where are those farmers benefiting from the fertilizer distribution? Why arent they speaking up? Why arent dey campaigning for GEJ in their own little way?

And who told you they are not campaigning for GEJ in their own little ways or do you expect to see peasant farmers who reside in the rural areas to always be on the internet like the paid sycophantic APC trolls you see all over the internet with their multiple accounts, making animal noises & shouting change even when they have not changed themselves & their immediate families! A shocker is awaiting them come March & their useless propaganda & concocted voodoo polls to deceive undiscerning Nigerians of their bogus popularity will be unravelled. GEJ is not perfect & may have made a couple of mistakes but He & his regime is far better than whatever old & senile Buhari & his group of opportunists have to offer!

aadrSales:
Petroleum Trust Development Fund, PTDF

Obasanjo was the first to stir the hornets’ net on this matter when he accused Vice President Atiku Abubakar of corrupt enrichment. According to the EFCC document which Obasanjo dangled with glee, Atiku was alleged to have diverted a sum of $125 million approved for the operation of the PTDF to the Equatorial Trust Bank, owned by Otunba Mike Adenuga, and Trans International Bank, TIB, which, thereafter, gave N400 million to MOFAS Shipping Company, owned by Otunba Oyewole Fasawe. EFCC also connected Adenuga’s payment of $20 million for his Globacom licence to PTDF money lodged in his bank.

From October 2003, according to the document, MOFAS paid more than N500 million to Umar Pariya, Personal Assistant to the former Vice-President, while N61 million was paid by the company directly to Atiku and N60 million directly to Musa Garba, a contractor who works for Atiku’s ABTI American University. Atiku responded with a ballistic missile that threw Obasanjo off his perch. Speaking through his media aide, Garba Shehu, Atiku said that Obasanjo, his family, businesses, native community and the Peoples Democratic Party, PDP, benefited from the PTDF money.

He revealed that Bodunde Adeyanju, Obasanjo’s Personal Assistant, made over 100 visits to TIB, Abuja, located at Tofa House in the Central Business District, between 1999 and 2004. “The truth of the matter is that there is a big linkage between Chief Obasanjo and Otunba Fasawe, contrary to the claims that the President has made.

There are cheques worth over N100 million issued to IBAD Nigeria Limited, a construction company solely owned by Obasanjo, from Fasawe’s MOFAS TIB accounts,” Garba revealed.

Shehu charged further that Fasawe made some direct payments to Obasanjo’s Africa Leadership Forum, ALF, and to the Obasanjo Campaign Organisation. “Also, a TIB Abuja branch cheque of N4 million was issued to Ibogun-Olaogun Development Association on 26th February, 2004. Ibogun-Olaogun is Obasanjo’s village,” Garba added for effect.

Garba spilled the beans further, claiming that from 1999 to the elections in 2003, Adeyanju, on behalf of Obasanjo, collected over N3 billion from MOFAS account at TIB, Abuja branch. Atiku further revealed to the Senate Committee on the Fund how Obasanjo paid a staggering N250 million of PTDF money to a lawyer to register a company, Galaxy Backbone.

Mogbe!! I see why OBJs bent on always planting his stooges. JEEEZ!! Where is that failed Christiane Amanpour...??

genearts:


WTF are u tlkin abt?? Give me a link to were u and ur e.diots got that statistics from?? They did stretch their research to MM or Azikiwe era bt started from shagari, wat a coincidence! Fool

Since ur skull is such a "can" n ur brain is trash, I dnt xpect u to reason any better. If u r interested in knowing d corruption index of nigeria since independence den go to TI's website n make ur request.