ALIMONU KADIRI EXPOSES OKONJO-IWEALA'S CHICANERY.
Thank you IBK for your observations. Let us ignore Kennedy and concentrate on the Minister of Finance and Coordinating Minister of Economy. Ngozi Okonjo-Iweala is a blown-up balloon, touted as a Harvard Economic graduate and overrated as a World Bank expert. When it comes to the Nigerian Federal Governments for the past 16 years, Nigerians have been stomped, deceived and sold out by knaves posing as men and women of integrity.

In October 2011, when Ngozi Okonjo-Iweala championed the campaign to remove fuel subsidy in Nigeria, subsidy payments had exceeded budget appropriation for the year by more than 600%, without supplementary budget. In the Western world from where we copy our system of government, not only the Minister of Finance, but the entire government would have been kicked out of office for recklessly exceeding budget appropriation. THE TOTAL BUDGET FOR FUEL SUBSIDY IN 2011 WAS N245 BILLION. Following the public uproar over Jonathan's proposal to increase the pump price of premium motor spirit (PMS otherwise known as petrol) from N65 to N147, there were multiple of enquiries to look into the justification of Jonathan's 2012 new year burden of load on Nigerians. On Monday, 2 July 2012, the Honourable Federal Minister of Finance and the Coordinating Minister of the Nigerian Economy, Dr Mrs Ngozi Okonjo-Iweala, appeared at a Senate hearing on fuel subsidy. Dr Mrs Ngozi Okonjo-Iweala told the Senate THAT A TOTAL OF N2.19 TRILLION WAS PAID AS FUEL SUBSIDY FOR THE YEAR 2011. She gave the breakdown as follows: AT THE END OF 2011, N1.7 TRILLION WAS PAID AND THE ARREARS FROM 2011 PAID IN 2012 WAS N451 BILLION. It should be noted that N232 BILLION WAS PROVIDED FOR PAYMENT OF SUBSIDIARY ARREARS (FROM 2011) IN THE 2012 BUDGET. Was she not aware of budget limitation? Answering to a Senator's question about what Nigeria is likely to pay as fuel subsidy in 2012 in view of her access to past records, Iweala said she did not know. She said further that SHE BELIEVES THAT THE FEDERAL GOVERNMENT (of which she is the Finance and Coordinating minister of Economy) MUST AS A MATTER OF EXPEDIENCY WORK OUT A FORMULAR WHEREBY THE MINISTRY OF FINANCE WOULD KNOW EXACTLY THE AMOUNT OF SUBSIDY TO BE PAID AT ANY PARTICULAR TIME. The House of Representatives under Farouk Lawan conducted its own enquiry on fuel subsidy payments and President Jonathan set up his own panel of investigation under the former EFCC chairman, Nuhu Ribadu. When Ribadu submitted his report, Jonathan set up a 15-man Committee that he named the Presidential Committee on Verification and Reconciliation of Fuel Subsidy Payments under Mr Aigboje Imuokhuede, Group Managing Director, Access Bank Plc.

After all the Abracadabra fuel subsidy committees, those of us who had patience to read through all the reports got to know that the number of fuel importers rose from 19 in 2009 to 140 in 2011. Many fuel importers existed only on paper and collected subsidies for fuel they never imported or supplied. Thus, Nigeria's Fuel Importers were paid for 59 million litres per day, while the country's storage capacity and consumption was 35 litres per day. How did that happen? Chief Emeka Wogu was Minister of Labour and Productivity in the same government as Okonjo-Iweala until October 2014 when he voluntarily resigned to contest for governorship of his State in Southeast. In 2011, Chief Emeka Wogu collected the sum of N2.7 billion for fuel subsidy he claimed to have supplied through his Company, Pinnacle Contractors Limited. In that Company, Emeka Wogu had 750, 000 shares, while Mrs Oyebabefe had 150, 000 shares and Mr Enyinnaya Wogu 100, 000 shares. The vessel which Emeka Wogu claimed to have delivered imported fuel in Nigeria was no where to be found anywhere in the world much less anchoring in Nigeria. It was found that Pinnacle Contractors Limited was not registered with the Corporate Affairs Commission (CAC), an absolute condition necessary to be fulfilled in order to qualify to import and supply fuel. Pinnacle Contractors Limited was not registered with CAC until Friday, 30 November 2012. Similarly, the Minister of Aviation until October last year when she was eased out of the government following the $ 1. 6 million armoured cars scandal, Mrs Stella Ada-Eze Oduah, owned 1,999,000,000 shares out of N2 billion shares in the Company named Sea Petroleum and Gas (SPG). The remaining shares were shared between other Directors identified as Elisabeth Stewart, Josephine Oduah and Erotomi Buwa. Stella Oduah's company was found to have fraudulently collected a total of N1, 019, 571, 609 (almost N1.02 billion) for fuel subsidy that was never supplied. Patrick Ifeanyi Uba is a well known brain behind Transformation Ambassadors of Nigeria (TAN) who claimed to have secured 18 million signatures across the six geo-political zones of Nigeria endorsing President Jonathan's re-election bid. But before that, 43 years old Patrick Ifeanyi Uba from Umuanuka in Otolo, Nnewi, has been the Managing Director and chief Executive Officer of Capital Oil and Gas that deals with importation, storage, distribution, trading and retailing of oil products. When he was found to have collected billions of Naira for unsupplied fuel he ran to Aso Rock which sheltered him from the consequence of looting Nigeria. Ngozi Okonjo-Iweala, is not only aware about fuel subsidy's fraud but she has all along cooperated with the fraudsters since 2011 and hitherto. Her cry now over fuel subsidy's scam and fraud is not sincere. Nigeria is an exporter of crude oil and at the same time importer of oil products through chains of government licensed and parasitic internal fuel importers. The Finance and Coordinating Minister of Economy, is obliged to tell us what economic theory supports a man who lives in the desert and crosses the oceans just to buy sand.

Another half-baked Yoruba loser on the loose. This woman will choke Yorubas to death soon.

This is very revealing. Nigeria has grown tremendously, you can't deceive them anymore with bogus achievements or academic qualifications, they Now see through, they'll dissect and expose you. The world may not know immediately, but we Nigerians know, and the world will also know in due time.

I continue to maintain that Nigeria's finances were outrageously mismanaged under the Goodluck Jonathan's administration and under her watch as minister of finance and coordinating minister of economy

God Bless Nigeria

.

I think this matter has gone beyond normal criminal activity that courts of law can unravel. we need a fast paced tribunal to put everyone on the hot seat from 1999 till date.

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laoshog:
The Finance and Coordinating Minister of Economy, is obliged to tell us what economic theory supports a man who lives in the desert and crosses the oceans just to buy sand.

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Words on Marble.

This is really insightful. Cc lalasticlala, do the needful.

buhari should simply look at all the ghost companies created after and take back the cheese from the rodents

Ramnon2:
Another half-baked Yoruba loser on the loose. This woman will choke Yorubas to death soon.

So, you cannot counter the article but only to attack the Yoruba race!
Where is your brain?

laoshog:
After all the Abracadabra fuel subsidy committees, those of us who had patience to read through all the reports got to know that the number of fuel importers rose from 19 in 2009 to 140 in 2011. Many fuel importers existed only on paper and collected subsidies for fuel they never imported or supplied. Thus, Nigeria's Fuel Importers were paid for 59 million litres per day, while the country's storage capacity and consumption was 35 litres per day

This is why we have to believe that the subsidy is a fraud.

More revelations will soon surface.

Ngozi Okonjo Iweala a.k.a 50Naira puff-puff is a blown-up balloon, touted as a Harvard Economic graduate and overrated as a World Bank expert.

socialmediaman:
This is very revealing. Nigeria has grown tremendously, you can't deceive them anymore with bogus achievements or academic qualifications, they Now see through, they'll dissect and expose you. The world may not know immediately, but we Nigerians know, and the world will also know in due time.

I continue to maintain that Nigeria's finances were outrageously mismanaged under the Goodluck Jonathan's administration and under her watch as minister of finance and coordinating minister of economy

God Bless Nigeria

This is what I've been hammering on. In my post on the other thread, I erroneously said the importers were about 48 before they climbed to about 150 soon after Jonathan took over, meanwhile, they were just 19!!!

Imagine a company not registered under CAC given license to import fuel!! Somehow, this implies that the company wouldn't even be paying Tax to firs!!

If one were to go back to those subsidy reports, I wonder.....

Honestly I'm speechless now.

Wahala dey o

When we told them Ifeanyi Uba was trying to pull PR stunt, some gullible ones were hailing him.

Ngozi .anu ana agba egbe o na ata chewing gum

After all the Abracadabra fuel subsidy
committees, those of us who had patience to
read through all the reports got to know that the
number of fuel importers rose from 19 in 2009 to 140 in 2011.

Many fuel importers existed only
on paper and collected subsidies for fuel they
never imported or supplied. Thus, Nigeria's Fuel Importers were paid for 59 million litres per day, while the country's storage capacity and consumption was 35 litres per day. How did that
happen?

Chief Emeka Wogu was Minister of
Labour and Productivity in the same government as Okonjo-Iweala until October 2014 when he voluntarily resigned to contest for governorship of his State in Southeast.

In 2011, Chief Emeka Wogu collected the sum of N2.7 billion for fuel subsidy he claimed to have supplied through his Company, Pinnacle Contractors Limited.

In that Company, Emeka Wogu had 750, 000 shares, while Mrs Oyebabefe had 150, 000 shares and Mr Enyinnaya Wogu 100, 000 shares.


The vessel which Emeka Wogu claimed to have delivered imported fuel in Nigeria was no where to be found anywhere in the world much less
anchoring in Nigeria.

It was found that Pinnacle Contractors Limited was not registered with the Corporate Affairs Commission (CAC), an absolute condition necessary to be fulfilled in order to qualify to import and supply fuel.


Pinnacle Contractors Limited was not registered
with CAC until Friday, 30 November 2012.

Similarly, the Minister of Aviation until October last year when she was eased out of the
government following the $ 1. 6 million
armoured cars scandal, Mrs Stella Ada-Eze Oduah, owned 1,999,000,000 shares out of N2 billion shares in the Company named Sea Petroleum and Gas (SPG). The remaining shares were shared between other Directors identified as Elisabeth Stewart, Josephine Oduah and Erotomi Buwa.

Stella Oduah's company was found to have fraudulently collected a total of N1, 019, 571, 609 (almost N1.02 billion) for fuel subsidy that was never supplied.

Patrick Ifeanyi Uba is a well known brain behind Transformation Ambassadors of Nigeria (TAN) who claimed to have secured 18 million
signatures across the six geo-political zones of
Nigeria endorsing President Jonathan's re-
election bid. But before that, 43 years old Patrick
Ifeanyi Uba from Umuanuka in Otolo, Nnewi,
has been the Managing Director and chief
Executive Officer of Capital Oil and Gas that
deals with importation, storage, distribution,
trading and retailing of oil products. When he
was found to have collected billions of Naira for
unsupplied fuel he ran to Aso Rock which
sheltered him from the consequence of looting
Nigeria.

#Leadership Jonathan style.....

The sons of Ahmadu Ali and co haven't even been mentioned.

Jonathan rewarded all of them with VIP statures and gave others juicy ministerial slots.

What a shame.

Ramnon2:
Another half-baked Yoruba loser on the loose. This woman will choke Yorubas to death soon.

You need to see a psychiatrist fast before you go haywire. You are psychologically sick.

And the Yoruba goats keep on whining..This woman is really giving this bigoted ediots sleepless nights