As the grossly corrupt and incompetent government of Nigeria, Yar'adua, its ruling elites and their hangers-on intensify their offensive to destroy and bring the country on his kneels, a discussion that could and should change the landscape of Nigeria for good proceeded at the US House of Representatives. The empty barrel in Aso Rock, dull man Yara, has sold Nigeria on a 7-point  mirage, a dream 20202020 and although he and his gang of evil marauders have access to this information, they are sure to ignore it and maybe write it off, like they have written off Nigerians every time. The day of their shame and destruction cometh!

Capital Loss and Corruption: The Example of Nigeria -Ribadu testifies before US House

Good morning, Chairman Frank, distinguished US Representatives of the Committee, and thank you for this very kind invitation to offer testimony as part of this panel. The global financial crisis has made nothing so clear as the fact that the global economy is now highly integrated and interconnected. What affects one corner of the globe will reach to all other corners, and the lack of proper regulation and oversight in one place can undermine stability far away.

. . .Between 1960 and 1999, Nigerian officials had stolen or wasted more than $440 billion. That is six times the Marshall Plan, the total sum needed to rebuild a devastated Europe in the aftermath of the Second World War. When you look across a nation and a continent riddled with poverty and weak institutions, and you think of what this money could have done – only then can you truly understand the crime of corruption, and the almost inhuman indifference that is required by those who wield it for personal gain. . .

Read the whole story: http://www.saharareporters.com/index.php?option=com_content&view=article&id=2780:capital-loss-and-corruption-the-example-of-nigeria-&catid=42:exclusive&Itemid=160

so? what if he did? A man shamed in his own country finds solace abroad, as usual - what is the big deal in that? What is new in what he has said? Nothing man!

I thought they said INTERPOL is chasing him down

walakolobo:

so? what if he did? A man shamed in his own country finds solace abroad, as usual - what is the big deal in that? What is new in what he has said? Nothing man!

Folk I think you need to grow up

The big deal is that everybody sees the EFCC under Waziri for what it is. A hoax

Poverty level in Nigeria 2007/2008 50%
,, ,, ,, 2008/2009 70%

What a leap, the present dispensation, EFCC inclusive has failed woefully

mikeansy:

I thought they said INTERPOL is chasing him down

Folk I think you need to grow up

The big deal is that everybody sees the EFCC under Waziri for what it is. A hoax

To grow up simply because i dont share your idea? Now who needs some growing up to do? Its obviously yourself.

walakolobo:

so? what if he did? A man shamed in his own country finds solace abroad, as usual - what is the big deal in that? What is new in what he has said? Nothing man!

Did you mean victimized by a corrupt government to further it`s agenda, keep you out of Nigeria and if you are there, make your life of little worth compared to dogs in the country the same man is speaking? Well, for your information, unlike Nigeria, their law makers don`t piss around and waste their time like they had nothing to do with it - plus Ribadu was not the only person invited. I think the reasoning world left you behind a long time ago.

walakolobo:

so? what if he did? A man shamed in his own country finds solace abroad, as usual - what is the big deal in that? What is new in what he has said? Nothing man!

You're obviously related to one of the thieving governors,senators or their co-conspirators in the inept & corrupt public service

walakolobo:

so? what if he did? A man shamed in his own country finds solace abroad, as usual - what is the big deal in that? What is new in what he has said? Nothing man!

I am very sad when i read comments like this . No hope for Nigeria

CyberG:

Did you mean victimized by a corrupt government to further it`s agenda, keep you out of Nigeria and if you are there, make your life of little worth compared to dogs in the country the same man is speaking? Well, for your information, unlike Nigeria, their law makers don`t piss around and waste their time like they had nothing to do with it - plus Ribadu was not the only person invited. I think the reasoning world left you behind a long time ago.

and you think every meaningful Nigerian, apart from the ones on NairaLand, take you seriously for what you have just posted? You are a schmuck.

SubMacGun:

I am very sad when i read comments like this . No hope for Nigeria

No no no - I lost hope in Nigeria the day Ribadu became a man who refuses to take orders from constituted authority.

Someone remind me who Ribadu is again?

walakolobo:

No no no - I lost hope in Nigeria the day Ribadu became a man who refuses to take orders from constituted authority.

Im sorry but you seem to have lost any sense of reasoning

Surely you can't be this dense

congoshine:

Im sorry but you seem to have lost any sense of reasoning

Surely you can't be this dense

Dense because he told you the real fact? How do you define dense? Obviously you are the dullard here.

Akpangbon:

Dense because he told you the real fact? How do you define dense? Obviously you are the dullard here.

More reason you should never get into the line of fire

Akpangbon:

Dense because he told you the real fact? How do you define dense? Obviously you are the dullard here.

1stly,he didn't 'tell' me anything. . . . . .he posted his views.

What is the 'real fact' by the way?

Any surprise Nigeria cannot move forward? Why the unnecessary fight and name calling. . .on something so fundamental as corruption. . .being discussed here? I am not interested in responding to the poster who just overheard a new word in a conversation and gleefully comes to announce it here on NL, using it on people you know nothing about!

If you are incapable of adding meaningful value and contribution to a discussion germane to the progress of your country, it is far better to hold your peace and listen than to spread the odium of insipid ignorance and base name-calling with your garrulous tongue!

excerpts from his presentation

But the policy today in Nigeria is to use all the right rhetoric – speaking of the need for rule of law and the fight against corruption – to cover-up their real campaign to completely undo the reform efforts of the previous government and so thoroughly confuse corruption and anticorruption that no one can sort out which is which any longer

It is one thing for beneficiaries of corruption to defend their source of lifelihood . . . . . . . but it will be double tragedy if anyone who benefits nothing from corruption to allow himself to be fooled by this ploy. They muddy the water so that the Nigerian people can no longer know right from wrong.

The challenge is up to us to open our eyes.

Corruption in nigeria is an incurable disease and testifying before foreign parliaments will have no visible impact, either now or later.

Enquirer:

Corruption in nigeria is an incurable disease and testifying before foreign parliaments will have no visible impact, either now or later.

U DONT SEEM TO GET IT

THE OBJECTIVE IS TO PRESSURE INTERNATIONAL FINANCIAL INSTITUTIONS FROM ACCEPTING RESOURCES OR BEING PART OF THE CORRUPTION CHAIN.

You're obviously related to one of the thieving governors,senators or their co-conspirators in the inept & corrupt public service

@jairzinho,
is the problem of nigeria lying in the state or aso rock? we are totally decieved. what happened to our federal roads, federal educational systems, federal power supply, federal security, federal oil allocations, the nigerian police and federal contracts? in which areas of our polity do u think the federal govt is doing more than the states govts?

Between 1960 and 1999, Nigerian officials had stolen or wasted more than $440 billion. That is six times the Marshall Plan, the total sum needed to rebuild a devastated Europe in the aftermath of the Second World War. When you look across a nation and a continent riddled with poverty and weak institutions, and you think of what this money could have done – only then can you truly understand the crime of corruption, and the almost inhuman indifference that is required by those who wield it for personal gain

@topic,
if the said amount was stolen between the said time, what about between 1999 till date? ribadu was part of the show that brought and forced yar adua on us as he was on hand to tell other contestants to drop their presidential ambitions or face efcc. we were all here when marwa was shaken by ribadu to willingly drop his presidential ambition. in which ways are ribadu today accepting responsibilities in misleading nigerians?
if i look at efcc under ribadu, i saw a tool out to make every state in nigeria a pdp loyal state, i see an organisation design to run after the few outspoken state govs but a look at farida will surely show u that bode george, fani kayode, borrishade and even a serving elumelu cld be docked constitutionally and not making them guilty and calling them criminals on the pages of newspapers.
by the way, where did ribadu leave the atiku/obj saga? ended with april polls.

it was this same ribadu that probed only abacha among other past presidents or cld it be true that abacha stole all the said amount above-pure deciet.

how can i join this crowd who are praising ribadu for going after orji uzor kalu when all the federal contracts paid for were left undone. even okada riders in nigeria know the history of ibadan-benin expressways reconstruction contract under obj yet ribadu does not know. if alams was sent to jail for corruption and money laundary, why wasn't mrs etteh and andy uba? if kalu was corrupt, what was odili? if the state govs were criminals, what was obj? why was atiku not sent to jail? why was ibb not questioned by ribadu? we better face the realities. no matter how slow yar adua is and how corrupt farida is, nigerians are waiting to know who and who were involved in the halliburton scandal maybe the govs.

chidicris do you have any solution to Nigeria's problems

whether you like it or not, those who will change our current system would have at some point been part of the corrupt system

Look at Fashola, he was Tinubu's chief of Staff and still loyal to Tinubu . . . . . don't we think Tinubu is part of the corrupt establishment? but Lagos is working at the moment. . . . do we disregard and not support Fashola because he was Tinubu's Chief of Staff?

Ribadu was loyal to OBJ to achieve an end . . . . . recent revelations between OBJ and Ribadu has shown that nobody knows who was using who in their relationship. It just turns out that OBJ selfishly imposed Yar'adua on us.

Yes Ribadu stopped the likes of Odili, Kalu, Atiku . . . . . I honestly do not think Ribadu's prime target was to get Yar'adua installed.

A lot happened in the run up to 2007. . . . . Ribadu has learnt a few things from it . . . . . but one thing I don't doubt are Ribadu's intentions for Nigeria.

We have to learn to coalese arround those on the corridors of power who are willing to work for the people . . . . . Christ or Muhammed (depending on which you worship) will not come down from heaven to redeem us.