Transcorp and OBJ

Is Transcorp really Baba Obj's own? Or are people just trying to mess him up because
EFCC exposed Atiku instead of respecting the Vice President? Or is it just BAD BELLE?

I've read so much on this - but people seem to going round in circles. Which one is the truth?

We all know what the truth of the matter is, TransCorp has become a convenient whipping dog for our disgruntled and under-pressure politicians - Atiku (ACD), Kalu, PDP faction and their cronnies in the National Assembly. Nab them red-handed for curruption and they'd rather discuss 3rd term and TransCorp than deal with the case at hand.

For investing in N200 million naira in TransCorp, the worst OBJ can be accused of is conflict of interest. Comon!! Even in the US and most western goverments, worse conflicts exist.

I'm not easily fooled. I'm not that gullible. I see desperation.

@JoshO

Try and get a copy of the code of conduct for public officers am sure you will have a change of heart, its unfortunate you are justifying OBJ's corrupt tendencies, anyway its your opinion.

omofineboy you are in ABUJA, BIGB1 is in ABUJA you guys must either be the same person or lovers. cause you think alike

I am in Abuja just like any other person, am not BIGB1, I dont even know him, if you say that you are being unfair to me, BIGBI is a supporter of IBB I am not, and can never be having fought his regime while in school through serious activism, I will betray what I stand for if I support the likes of IBB but it seems you dont understand me, one thing I have been advocating is objectivity, and I wont quarel you if you have opposing views to mine, we should be able to defend whatever we believe in, BIGB1 will have a reason for supporting whoever and you also will have a good reason for opposing, there should be no quarel about that. So it will be very wrong for you to insinuate that am BigB1 or we are lovers, I dont even know him, may be you should chat with me one of these days to know my person. Some Nairaland members have had a chat with me and I thank them for that. Try and get your facts right before making accusations, I am me and cant be any other person. ok

Why do we always think that Western govts are  more corrupt than ours. Can Bush invest in Microsoft while still in office? These people build their reputation while in office and join coporate world after serving their terms , like Colin Powell and Schroeder  did.

Its against the law for Obasanjo to invest in Transcorp. Have you wondered why  there are no mega coporations in Nigerians that are truly owned by hard working Nigerians. You  cannot build a company by favouritism. There are ethical standards we must uphold.

Its still delusional to  think that OBJ  is a saint. Tarfa Balogu stole bilions. How did it happen? Late  INEC director, Akanni stole billions. If these people were able to steal in billions, how much money do you think OBJ and cohorts would be stealing.
In case if   you did  not know, OBJ was broke when he came out of prison in 1998, It  was Chief Joseph Sanusi  , CEO of First Bank, who approved $1 million dollars credit facility  for OBJ farms . He would later become a Central Bank Governor.

Please its wrong to always compare Naija with western countrie, because it always smacks of folly and ignorance. If we can make our country better by 50% of western standard, our country will be a paradise on earth.

I am in Abuja just like any other person, am not BIGB1, I dont even know him, if you say that you are being unfair to me, BIGBI is a supporter of IBB I am not, and can never be having fought his regime while in school through serious activism, I will betray what I stand for if I support the likes of IBB but it seems you dont understand me, one thing I have been advocating is objectivity, and I wont quarel you if you have opposing views to mine, we should be able to defend whatever we believe in, BIGB1 will have a reason for supporting whoever and you also will have a good reason for opposing, there should be no quarel about that. So it will be very wrong for you to insinuate that am BigB1 or we are lovers, I dont even know him, may be you should chat with me one of these days to know my person. Some Nairaland members have had a chat with me and I thank them for that. Try and get your facts right before making accusations, I am me and cant be any other person. ok

@feelgood

Transcorp does not belong to Obasanjo, OBJ bought shares in the company, 200 million shares according to the media. But this same Transcorp has been buying high profile assets in Nigeria including the Nicon Nuga Hilton Hotel, Abuja and most recently, Nitel.

Also, the Director-General of Nigerian Stock Exchange is a director in the company. So the fear is that there is too much conflict of interest going on. People are thinking the Bureau of Public Enterprises (BPE) probably sold these companies to Transcorp because of OBJ's stake in the firm.

Now it appears the President wants to divest his shares in the company as a result of public outcry on the issue.

So, OBJ DOES NOT OWN TRANSCORP OO.

Let it be known that the intent to commit a crime is a crime itself. OBJ did buy shares in Transcorp in  contravention of existing status like Code of Conduct Bureau Act. If the Press had not brought these issues, we would still be thinking that everybody is clean.

Kalu blasts OBJ - Says president is corrupt

By OLAWALE RASHEED - 13.10.2006
Friday, October 13, 2006
GOVERNOR Orji Uzor Kalu of Abia State has levelled fresh corruption allegations against President Olusegun Obasanjo, declaring that the president was not competent to pursue the anti-corruption war.



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Speaking at a news briefing in Lagos, the governor accused the president of using fronts to acquire wealth while in office in contravention of the Constitution.

He specifically alleged that the president owned 51 per cent shares of Transcorp a business organisation which he said had been buying up major public enterprises.

Transcorp, he said, had five oil blocks in addition to the purchase of NICON Hilton Hotel, Abuja and NITEL against the preferred bidder, Globacom.

He also alleged that the president had majority shares in five of the 25 consolidated banks, questioning where the president got the money for such investment.

Kalu further questioned the president over where he got the money for Bell University and what he called the multi-billion naira renovation of Obasanjo Farm.

Reminded that the president had been making profit in recent times, Kalu debunked that suggestion, insisting that in 1999, the Obasanjo Farm was already on the verge of bankruptcy.

He repeated all his previous corruption allegations against the president, accusing the Economic and Financial Crimes Commission (EFCC) of failing to probe the president and bring him to book.

Reminded that he (Kalu) needed to provide evidence of corruption against the president to the EFCC, the Abia State governor said the existence of Bell University and Obasanjo Farm were enough evidence for Ribadu and his men to act upon.

“I stand by all the allegations I levelled against the president and at the right time, we will speak more on them,” he said.

Baba is a born again xtian.

What an insult to the xtians.

Our leaders are all corrupt. They should all be tied to a stake and burnt alive. I have much greater respect for a 419 person who steals from outside the country and invests in Nigeria than a public servant who steals from his own people. The country's wealth belongs to the people, our leaders should invest in the common man and eradicate hunger, homelessness, poor medical facility, lack of education etc. Every citizen of the country should benefit from the resources. We have greedy leaders who steal our money and hide in foreign accounts and yet we are getting ready to vote for them again. We should all be ashamed of OURSELVES.

Is Baba corrupt
you cannot expect efcc to probe the person that set it up, but one fact is for sure: with the same standard you measure others, that in return you get. though, efcc might not be able to probe Baba now, but after his exit, then all worms will be let lose. but my only prayer is that, our next president should still empower efcc rather than turn it to a sleeping dog or face it out.

@marsujay,

I cant agree less you are very right. Ride on pls

Interesting Discourse.

EFCC is an awesome innovation in Nigeria, and I believe it is here to stay.
The ones that initiated and implemented them may not know what they have done for this country, but posterity will surely remember them for good.

Nixon did n't know what he did when he set up the Commission that uncovered the Watergate scandal, May our Leaders not know what they are doing until they have put in place credible laws that will check their excesses for good.

The urge to serve in the government of this country should be with trepidation and awe, urged on by the clarion call of the people; and not the brazen effrontery that many unqualified so-called "Nigerians" flaunt around.

EFCC, please dig into every aspiring politician and clear them before they present themselves for any election. Keep on Keeping On.

I have read all your comments and I want to let you know that all the kleptocrats would be tried and when they fall, please don't join in feeling sorry for them.

All the air disasters and other national tragedies were all caused by the kleptocrats since 1979 to date.

All the revenue allocations meant for sustainable human development and other projects have been embezzled by the crooks and rogues in power, with their cronies and proxies and all their girlfriends and mistresses won't be spared.
EFCC should know that all the Lion shareholders in Transcorp are criminals.
They must all account for the rot in Nigeria.

The revolution will be total.

NL 'lets nt hope 4 any succour in d form f probe 4rm any anti-corruptn agency either b/4, during or afta OBJ's tenure', dis is b'cuz b/4 his tenure, he has no offence, during his tenure he his protctd by immunity clause, & afta his tenure a part f d Naija constitutn still protcts past president 4rm bn probed. OR "which past president hv bn probed in Naija". Letz hope Baba in heavn setup anoda EFCC

the man is a bad news!!!he owns trans-crime,that's all.FULL STOP!

Can some-one buy shares for you (private placement) and ur ignorant of it? Haba, even a child will be tell you to your face that baba(baba iyabo or obansanjo farms/holdings etc) belong to one and the same thief, sorry, I mean the same person. Nuhu Ribadu upsets me. once anything concerns baba, he's always hasty to disassociate baba from it. did i hear somebody say you cant bite the hand that feeds you? in a few months, a lot of revelations would be made regarding this fraud of a president

There is a sizable probability that BABA will be probed this time next year.

I guess time will tell.

I sincerely hope OBJ is probed by this next next year, and if genuinely found wanting, should face justice.

In the meantime though, Atiku, IBB and all the kleptocrats in the AC should be probed and hanged by the balls, as it is 'quod erat demonstrandum' that most are direct/indirect beneficiaries of the continuing criminal enterprise that was/is successive Nigerian goverments.

Therefore, my prayer is that we are sooner rid of this painfully persistent band of vacuous, manipulative, virtueless, incompetent, clueless leadership foistered on our beloved nation by the same notorious cabal,

God help our nation.

e we ooooooooo., well what i feel is that obj is just doin things the way pple be4 him did and he wld definately get away with it since he is in power but it wld take a willed next president to Bleep him up.

TIME WOULD TELL.