Safe tower project: Borishade, Fani Kayode, others to refund N5.4bn
From AMOS DUNIA, Abuja
Monday, February 02, 2009
Chief Femi Fani-Kayode
Photo: Sun News Publishing

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Two former Ministers of Aviation, Professor Babalola Borishade and Chief Femi Fani-Kayode in the administration of former President Olusegun Obasanjo who are presently facing trial over allegation of fraud and abuse of office brought against them by the Economic and Financial Crimes Commission (EFCC) are to refund a whopping N5.4 billion of the N19.5 billion of Federal Government Intervention Fund to the aviation sector.

The two former Ministers are to be joined by the former Managing Director of Nigeria Airspace Management Agency (NAMA), Mr Roland Iyayi and the Managing Director of Avsatel Company Limited, Mr George Elder in refunding the colossal amount meant for the upgrading of aviation facilities but which were alleged to have been cornered into personal pockets.

The N5.4 billion recommended to be refunded by the two former Ministers, Managing Director of Avsatel and former boss of NAMA is part of the N6.5 billion that was alleged to have been sourced from Zenith Bank without the approval of the Federal Executive Council.
This was part of the recommendations of the Senate Committee on Aviation chaired by Senator Anyim Udeh that investigated the N19.5 billion of Federal Government Intervention Fund to the Aviation sector which is awaiting deliberation and possible approval of the Senate.

Similarly, owing to the conflicting figures the Committee was given by the various stakeholders concerned, the Senator Udeh-led Committee also recommended that the Federal Government should, as a matter of necessity, set up a powerful panel of enquiry into the N2 billion meant for the payment of severance allowances for retirees in the Aviation sector.

The Committee’s investigation showed that of the over 400 workers that were said to have benefitted from the N2 billion, ghost workers were believed to have benefitted from the amount by carting away over N780 million.

The report of the Senate Aviation Committee which is expected to be debated on Tuesday, equally urged the Federal Government to probe as well as review the award of all contracts that covered the N19.5 billion.

In the same vein, the Committee further recommended that the EFCC should be encouraged to continue with the prosecution of the arrested persons in connection with the N19.5 billion intervention fund in the Aviation sector.

According to findings of the Committee, discoveries of actual amount spent on the Safe Tower Project was N1.1billion and not N6.5 billion claimed by the former Ministers and their collaborators, adding that the Federal Executive Council had directed that the monies for the Safe Tower System be sourced from the three percent natural resources development fund and not from any bank.
While the Senate probe was going on, the two former Ministers were picked up by the operatives of the EFCC and subsequently charged to court in Abuja.

While testifying before the Senate Committee, Chief Fani-Kayode had said that sourcing the loan from Zenith Bank with high interest rate brought a huge financial burden on FAAN and NAMA, which threatened to cripple the agencies.

According to Fani-Kayode then: “I have a copy of FEC approval here, the contract was supposed to be funded from the Natural Resources Development Fund and to be paid back in five years.”
However, Professor Borishade had denied before the Senate Panel of making any withdrawal from the intervention fund during his time as Minister of Aviation, saying, “When I left in November 2006, the contracts had been awarded but no withdrawals were made.”


                         Fellow Nlanders, is Naija not a money making machine.

God damn these people. Fani-Kaode and all these perpetrators of these evil acts, may you all rot in the hottest part of hell. My heart goes to the families who lost loved ones in the plane crashes that killed their relatives as a result of these bastards' incompetencies.

Yikes!!! Billion, Billion!! Will the well that produces all these billions ever dry up?

these ones would die now and somebody would say we should pray for their souls. i would pray alright but those that they hurt with thier actions what should they do? pray as well?

must_a_far:

these ones would die now and somebody would say we should pray for their souls. i would pray alright but those that they hurt with thier actions what should they do? pray as well?

You, you will pray, hmmn, me I go curse them and I think it's well justified.

must_a_far:

these ones would die now and somebody would say we should pray for their souls. i would pray alright but those that they hurt with thier actions what should they do? pray as well?

It is all a result of mixing FEAR and RELIGION, and continuing to mistake the one for the other. Even when there is evidence, you pump fear into people, and they will be willing to blindly forgive and even stone those who have legitimate reasons to ask for justice. The worst part is that these politicians know the power of fear on the average Nigerian mind and they play well with it too.

wow this is just sad. So they would go Scot free by just returning the loot?

Fanikayode-imagine that thieving arrogant crook who doesnt mind jeopardising lives just so he can wear designer suits/aftershave and support 60k par night kpons.

I could bet my last pound that these guys would not spend an extra day in jail if they return all the loot.

this is happening because no one blieve in NIGERA PLC.

Blood money!!! That is why they are having red lips like that of a lion that has just finished devouring a gazzelle. The blood of all those that perished in plane crashes during their reign be upon their heads. Somebody say a big Amen to this prayer .

jamace:

Blood money!!! That is why they are having red lips like that of a lion that has just finished devouring a gazzelle. The blood of all those that perished in plane crashes during their reign be upon their heads. Somebody say a big Amen to this prayer .

[center][size=32pt]AMEN[/size][/center]

[sub]Blood money!!! That is why they are having red lips like that of a lion that has just finished devouring a gazzelle. The blood of all those that perished in plane crashes during their reign be upon their heads. Somebody say a big Amen to this prayer .[/sub]

ASE NTEDUMARE

Moderator or Seun - change this title please. It has nothing to do with any UN World Report

Mr. Fani Kayode comes from a long line of treasury looters.  His father, Fani Kayode Senior, was a minister of finance in Nigeria's first republic, history books remind us, and he stole all he could get his paws on, evidently passing on the tricks of the embezzler's trade to his son, who is now being politely asked to refund a few billion naira that he liberated from the Aviation Ministry's budgetary allocation. 

Crime pays handsomely in Nigeria, so Mr Fani Kayode will get away with his crime just as surely as Obasanjo got away clean with stealing the entire 16 billion US dollars that had been earmarked for the provision of grid electricity to Nigeria.  The recent formal demand for a refund of the stolen money by the government will flag of a series of negotiations in which the size of the bribes to be paid all fraud investigators will be agreed upon and then remitted by Mr. Fani Kayode, in exchange for life-time immunity from prosecution, and, of course, a string of new chieftaincy titles that will be awarded by grateful collaborators after the dust settles and all parties commence to live happily ever after.