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Nairaland Forum / Nairaland / General / Politics / The Many Sins And Corruption Of The Obasanjo Administration (1258 Views)
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The Many Sins And Corruption Of The Obasanjo Administration by shaddoww: 9:38am On Jul 31, 2015 |
Obasanjo’s critics have tomes of offences which
can put him in the dock. However, other
analysts believe that the water is still cold, the
surface is frozen. What can only be seen by the
polar navigator of Obasanjo’s corruption
icescape are tips. The fat bases of the icebergs
are still buried deep, very deep. Here are some
of the tips.
Transcorp
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 .” |
Re: The Many Sins And Corruption Of The Obasanjo Administration by shaddoww: 9:39am On Jul 31, 2015 |
Contd
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.”
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 .
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 . 2 Likes |
Re: The Many Sins And Corruption Of The Obasanjo Administration by lekejob(m): 9:40am On Jul 31, 2015 |
noted |
Re: The Many Sins And Corruption Of The Obasanjo Administration by Lanretoye(m): 9:42am On Jul 31, 2015 |
No one go repeat two classes,if person wan repeat na the last class. |
Re: The Many Sins And Corruption Of The Obasanjo Administration by mannobi(m): 9:45am On Jul 31, 2015 |
O......B.......J |
Re: The Many Sins And Corruption Of The Obasanjo Administration by Nobody: 9:45am On Jul 31, 2015 |
Yet some loophole will come n shout GEJ name |
Re: The Many Sins And Corruption Of The Obasanjo Administration by bibi5: 9:46am On Jul 31, 2015 |
www.newspepa.com brings you the latest and most important news from Punch, Vanguard, Premium times, Leadership, Beallanaija, Stargist, Goal.com and other publishers |
Re: The Many Sins And Corruption Of The Obasanjo Administration by shaddoww: 9:59am On Jul 31, 2015 |
brooklyn49:it will really be a witch-hunt probing Jonathan alone 1 Like |
Re: The Many Sins And Corruption Of The Obasanjo Administration by tomakint: 10:03am On Jul 31, 2015 |
Obasanjo is a GLORIFIED BLOODY ROGUE that deserves to be a Nigerian (because Nigerians celebrate mediocrity)! |
Re: The Many Sins And Corruption Of The Obasanjo Administration by wecan: 10:13am On Jul 31, 2015 |
And some people in Nigeria today are worshiping and praising him as he is their God. God will punish anybody who said he will only probe Jonathan's administration and leaving the rest 1 Like |
Re: The Many Sins And Corruption Of The Obasanjo Administration by Nobody: 10:18am On Jul 31, 2015 |
shaddoww:Can u imagined the figure mentioned above? Do u know how many working industries that would have opened? I hate nigeria...I swear nothing work here...politicians have the same mindset..-including the very president we have now..he's a thief too 1 Like |
Re: The Many Sins And Corruption Of The Obasanjo Administration by shaddoww: 11:07am On Jul 31, 2015 |
brooklyn49:it's just a shame that people still give that wicked man audience |
Re: The Many Sins And Corruption Of The Obasanjo Administration by Izunwa(m): 4:30pm On Jul 31, 2015 |
@op, are trying to convince that dis figures mentioned above goes into one man's pocket . I haff died oo |
(1) (Reply)
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