This is a shame why is he still called an elder states man... GOD get many people to judge for dis country, weh people dey die, money dat was meant to solve a peculiar problem as security una chop am kai tofiakwa b4 GOD go judge una kirikiri will be u peoples first point of call elder ma foot

So far he has said nothing .This an inclusive statement..

chukxie:
I weep for Nigeria! See as money- millions of it, dey fly everywhere meanwhile average Nigerians dey suffer. Chai!

what do you mean by average 85percent naigeria are seriously pain of hunger

TimeManager:
A prison should be named after dasuki.,called dasuki prison, & each room named after each yam eater. I like the sound of room-fortunato.

The truth has spoken!

My brother no smoke without fire. If the investigation is not truncated we Nigerians will know the truth. Gbam!!!

God bless you for this beautiful comment. U havevsaid it all.

Aufbauh:
'Mr fix it' we are not interested on how you disburse the money but how we will recover our money and those involved in the unwholesome act of sabotage pay for their sharp practices.

Anenih's tory is not different from the explanation of an apprehended common thief who tried to justify his stealing on the barefaced poverty troubling his family.

My conclusion is that these men are culpable including Jonathan, if not how do you rationalize the receipt of fund for a political party campaign from the office of the National Security Adviser?
Witch hunting criers make una use una brain reason the matter.

God bless you for this beautiful comment. U have said it all.

These people have no shame at all.

Aufbauh:
'Mr fix it' we are not interested on how you disburse the money but how we will recover our money and those involved in the unwholesome act of sabotage pay for their sharp practices.

Anenih's tory is not different from the explanation of an apprehended common thief who tried to justify his stealing on the barefaced poverty troubling his family.

My conclusion is that these men are culpable including Jonathan, if not how do you rationalize the receipt of fund for a political party campaign from the office of the National Security Adviser?
Witch hunting criers make una use una brain reason the matter.

Oga Ooo See The Way Dem Dey Share Our Money Like Yam

With such loads of free money funneled to them, they behaved like demi gods, while their opinion on national issues were usually skewed out of commonsense. For instance, some will swear they will die for Jona. Others, like Edwin Clark, will threaten hell fire if Jona were not reelected. Now we know that these violent sentiments were powered by the naira. Billions of it flew to whereever there was a PDPman. All these were happening while Nigeria sank. Jona had become another Idi Amin Dada and Abacha combined.

juman:
I think the opposition said those money were from the security vote of the president.
There should be constitutional control on the security votes of the presidents and the governors.

Security vote is nothing but ways to squander money while the masses suffer and suffer.
Security vote should be abolished.

Security vote = Cookie jar

seunmsg:
No wonder that old man, Tanko Yakassai keeps spewing shiit about Buhari during the election. EFCC should please do quick and arrest him.

Beside, Anenih only explained how he shared N63million, what happened to the remaining N197million? Bunch of corrupt and greedy old men. All of them must must prosecuted and jailed for a long time

prison is not made for animals

989900:
I beg, where is Diezani and her NNPC gang (before they make us forget)?

They are smooching in Kano with .............yeah, you know who

barcanista:
Since I was born, I have never witness the kind of hypocrisy, double standard and demonisation that is currently perpetrated by Muhammadu Buhari, the APC, Alhaji Sanusi, Osinbajo and their "good governance crusaders" against the person of President Goodluck Jonathan, Allison Madekwe, and other government officials.

Alhajis Buhari and Sanusi and APC have been going about using every platform to talk about a "missing $20b", cheered by their hypocritical followers that pride themselves as good governance crusaders. They have deliberately gone blind over the fraud of CBN under Sanusi as outlined by the Financial Reporting Council of Nigeria report in February 2014.

Sanusi Indicted And Removed For Fraud
According to the report (see below) Sanusi was indicted for Gross Misconduct that bothers on fraud and financial recklessness among other offence. The FRCN subsequently advised Mr President to remove Lamido Sanusi from office for further investigation and probe after the explanation of Sanusi appeared more like a tale and outrightly illogical according to FRCN. The council indicates that the explanation provided by Sanusi is “a clear display of incompetence, nonchalance, fraud, wastefulness, and abuse of due process and deliberate efforts to misrepresent facts on the part of the leadership of the CBN.”

The council advised the President to exercise the powers conferred on him by Section 11(2)(f) of the CBN Act 2007 or invoke Section 11(2)(c) of the said Act “and cause the governor and the deputy governors to cease from holding office in the CBN.”


April 2014: VP-elect Yemi Osibanjo Filed Case To Stop Sanusi Probe
Rather than Sanusi to prove his innocence in court, he filed a case in Federal High Court, Lagos to STOP FRCN and Other Security Agencies from investigating and prosecuting him through three Senior Advocates of Nigeria, Prof. Yemi Osibanjo, Dr. Kanyinsola Ajayi and Kola Awodien.
http://www.theguardianmobile.com/readNewsItem1.php?nid=24587

13 May 2014: Lagos Judge Tshoho Grants Sanusi Prayers
High Court Judge John Tshoho rather than uphold the constitutional powers of FRCN to investigate probe Sanusi, he granted the prayers of Lamido Sanusi and BARRED FRCN from further investigation or probing Sanusi Lamido Sanusi. In his own words...
“Prejudice is very pronounced in the language of that document. The language of the briefing note (transmitted by the FRCN to the presidency) conveys a sense of the defendant desperately goading the presidency to deal with the plaintiff,”
“The plaintiff submitting himself for investigation (by FRCN) is like the cockroach finding itself in the midst of fowls. Such a cockroach cannot be innocent,”.
http://www.tv360nigeria.com/?p=11923

Despite the fact the President Jonathan commissioned PWC to audit NNPC books to ascertain the veracity or otherwise of Sanusi's claim, Buhari, APC, Sanusi and their online agents that parade themselves as good governance and anticorruption apostles have been crying blue murder but refused to comment on the FRCN report nor the APC's VP elect role in shielding Sanusi for probe.

April 26, 2015: Buhari's Display of Hypocrisy
In his usual hypocrisy, General Buahri vowed to re-visit the $20b allegation but said NOTHING about the FRCN report. In his own word... “Imagine a situation where the former CBN governor who by God ‘s grace would later become the  Emir of Kano raised an  issue of missing billions of money, not in Naira but in Dollars, $20 billion.
“What happened, instead of investigating to know whether it was true that the money was missing or not, they simply found a reason to remove him. So these are the issues we are talking about…"
Contrary to the lies of Alhaji Buhari, Sanusi wasn't removed because he raised alarm, he was removed because he was indicted by FRCN. Jonathan also never kept mute, he commissioned PWC to audit the books. Buhari was also blind to talk about prosecuting Sanusi for the CBN fraud. Perhaps the Emir is as "incorruptible" as him(Buhari)

[size=14pt]The FRCN’s report on Sanusi[/size]



[img]https://www.nairaland.com/download/660265[/img]



The decision to suspend the Central Bank of Nigeria Governor, Sanusi Lamido was based on a report of the Financial Reporting Council of Nigeria dated June 7, 2013.

The report was made after a review of Sanusi’s response to the query issued to him by the President over the apex bank’s financial statement of 2012. His response was dated May 20, 2013.

According to a copy of the report obtained by our correspondent on Thursday, the council indicates that the explanation provided by the suspended CBN governor is “a clear display of incompetence, nonchalance, fraud, wastefulness, and abuse of due process and deliberate efforts to misrepresent facts on the part of the leadership of the CBN.”

The council advised the President to exercise the powers conferred on him by Section 11(2)(f) of the CBN Act 2007 or invoke Section 11(2)(c) of the said Act “and cause the governor and the deputy governors to cease from holding office in the CBN.”

The report read: The particulars of the infractions against Sanusi are:

Persistent refusal and/or negligence to comply with the Public Procurement Act in the procurement practices of the Central Bank of Nigeria.

(A) By virtue of Section 15 (1)(a) of the Public Procurement Act, the provisions of the Act are expected to comply to ‘all procurement of goods, works and services carried out by the Federal Government of Nigeria and all procurement entities.’ This definition clearly includes the Central Bank of Nigeria.

(B) It is however regrettable that the Central Bank of Nigeria, under his leadership, has refused and/or neglected to comply with the provisions of the Public Procurement Act (PPA). You will recall that one of the primary reasons for the enactment of the PPA was the need to promote transparency, competitiveness, cost of effectiveness and professionalism in the public sector procurement system.

More from: http://www.punchng.com/news/the-frcns-report-on-sanusi/


[size=14pt]Sanusi/CBN/FRCN indictment report continued[/size]


(C) Available information indicates that the Central Bank has over the years engaged in procurement of goods, works and services worth billions of Naira each year without complying with the express provisions of the PPA.

(D) By deliberately refusing to be bound by the provisions of the Act, the CBN has not only decided to act in an unlawful manner, but has also persisted in promoting a governance regime characterised by financial recklessness, waste and impunity, as demonstrated by the contents of its 2012 Financial Statements.

Unlawful expenditure by the Central Bank of Nigeria on ‘Intervention Projects’ across the country

(A) the unacceptable level of financial recklessness displayed by the leadership of the Central Bank of Nigeria is typified by the execution of ‘Intervention Projects’ across the country. From available information, the bank has either executed or is currently executing about 63 such projects across the country and has committed over N163billion on them.

(B) it is inexcusable and patently unlawful for any agency of government to deploy huge sums of money as the CBN has done in this case, without appropriation and outside CBN’s statutory mandate. It is trite that the expenditure of public funds by any organ of government must be based on clear legal mandates, prudent costing and overriding national interest.

Financial infractions and acts of financial recklessness committed by the Central Bank as reflected in its audited financial statements of 2012

(A) pursuant to Section 50 of the CBN Act 2007, a copy of the audited financial statements of the CBN for the year ended 31st December 2012 was sent to Mr. President. Based on the issues raised in the financial statement, a reaction was requested from you to enable a proper appreciation of the nation’s economic outlook.

(B) the response to this query was further referred to the Financial Reporting Council of Nigeria. The review by the council, rather than allay the fears of government, further confirmed concern bout the untidy manner in which you have generally conducted the operations of the CBN.

Some of the salient observations arising from the review are;

(A) in a most ironical manner, it has become obvious that the CBN is not able to prepare its financial statements using applicable International Financial Reporting Standards (IFFS) whereas Deposit Money Banks that the CBN is supervising have complied with this national requirement since 2012.

Undoubtedly, this laxity on the part of our apex bank, apart from calling to question its capacity for proper corporate governance, is capable of sending wrong signals to both domestic and international investors on the state of the Nigerian economy.

(B) the provisions of the Memorandum of Understanding (MOU) signed by the CBN and other Deposit Money Banks on Banking Resolution Sinking Fund have been breached in a material manner. For example, a Board of Trustees (BOT) to manage the Fund has not been constituted since 2010 when it was established. The CBN has however continued to utilise the Fund for certain operations without approval of the said BOT.

(C) contrary to section 34 (b) of the CBN Act 2007 which provides that the CBN shall not, except as provided in Section 31 of the Act, inter alia, purchase the shares of any corporation of company, unless an entity set up by the approval or authority of the Federal Government,m CBN in 2010, acquired 7% shares of International Islamic Management Corporation of Malaysia to the tune of N0.743 billion. This transaction was neither brought to Mr. President’s attention nor was a board approval obtained before it was entered into.

(D) the CBN has failed or refused to implement the provisions of the Personal Income Tax (Amendment) Act 2007. Accordingly the Pay-As-You-Earn (PAYE) deductions of its staff are still being computed in accordance with the defunct Personal Income Tax Act 2004, thus effectively assisting its staff to evade tax despite the generous wage package in the CBN, relative to other sectors of the economy.

(E) the CBN had an additional brought forward to General Reserve Fund of N16.031bn in 2012 but proceeded on a boy age of indefensible expenses in 2012 characterised by inexplicable increases in some heads of expenditure during the year. Examples include:

1. The bank spent N3.086bn on “promotional activities” in 2012 (up from N1.084bn in 2011). The bank spent this sum even when it is not in competition with any other institution in Nigeria;

2. The CBN claimed to have expended N20.202bn on ‘Legal and Professional Fees’ in 2011 beyond all reasonable standards of prudence and accountability;

3. Between expenses on ‘Private Guards’ and ‘Lunch for Policemen’, the CBN claimed to have spent N1.257 billion in 2012;

4. While Section 6(3)(c) of the CBN Act 2007 provides that the board of the CBN is to make recommendations to Mr. President on the rate of renumeration to Auditors, the bank has consistently observed this provision in breach and even went to the extent of changing one of the Joint External Auditors without notifying the office of the President.

5. In the explanations offered by the CBN pursuant to presidential directives, it offered a breakdown of ‘Currency Issue Expenses’ for 2011 and 2012. Interestingly, it claimed to have paid N38.233bn to the Nigerian Security Printing and Minting. Company Limited (NSPMC) in 2011 for ‘Printing of Banknotes.’ Paradoxically however, in the same 2011, NSPMC reported a total turnover of N29.370bn for all its transactions with all clients (including the CBN).

6. It is significant to note that the external audit revealed balances of sundry foreign currencies without physical stock of foreign currencies in the CBN Head Office.

Questionable write-off of N40bn loans of a bank

The above issues are only a few of the infractions highlighted by the review and which point to the gross incompetence and recklessness which characterised the operations of the CBN in the period under review.

However, the CBN also claimed that it paid Air Charter, such as payments to Emirate Airline (N0.511bn), Wing Airline (N0.425bn) and Associated Airline (N1.025bn) to distribute currency by air nationwide. Emirate Airline does not fly local charter in Nigeria, Wing Airline is not registered with Nigeria Civil Aviation Authority and Associated Airline does not have a billion turnover for 2011 because upon enquiry, the management claimed that they have no financial statements and have not had any significant operations for the past two years that will warrant preparation of financial statements.

The breakdown also include “Currency Issue Expenses” of N1.158bn and Sundry Currency charges of N1.678bn under “Currency Issue Expenses.” As they are in 2011 so are similar expenses in 2012. These are difficult to understand.

Other areas of fraudulent activities include

1. Facility Management N7.034bn in 2012 (N5.751bn in 2011.

2. Foreign Bank accounts that have been closed offshore were still operational in the General Ledger for over six months after they have been confirmed as closed accounts by the offshore banks.

3. The “Know Your Customer” policy is not properly followed by the CBN to the extent that the CBN has unknown customer with account balance of N1.423bn since 2008. The CBN claim that it is taking steps to obtain the required details regarding the address of the customer.

Wastefulness

1. Training and travel expenses N9.24bn in 2012 up from N7.65bn in 2011.

2. Expenses on “ATM offsite policy change” came to N1.045bn.

3. Expenses on “Non Interest Banking” N1.359bn in 2012 up from N0.977bn in 2011.

The CBN is still very heavy on expenses on “Project Eagles” spending N0.606bn in 2012 up from N63m in 2011.

Expense on newspapers, books and periodicals (excluding CBN’s publications) is N1.678 billion in 2012 up from N1.670bn in 2011,


From: http://www.punchng.com/news/the-frcns-report-on-sanusi/

chukxie:
I weep for Nigeria! See as money- millions of it, dey fly everywhere meanwhile average Nigerians dey suffer. Chai!

And you will still see them defending the thieves with their last drop of blood!

TonyeBarcanista:

I followed the Blagojevich story till the end.

When FBI indicted him, his approval rating dropped to a record low of 13%. What does that tell you? Opinion leaders and even members off his Democrat party led the call for his resignation/impeachment and supported prosecution. The state House of Representatives overwhelmly impeached him. The Senate overwhemly convicted him and sacked him.

It is only in Nigeria that some people and their party will be defending corruption.

Don't worry, apart from corruption fighting back, people will probably need a bit of time to get used to the impact of the new change. It is important we collectively pursue this case to it's logical conclusion and all guilty jailed. A ripple effect is coming and we may all be more bemused with the depth of rot and corruption in the whole system

It is pity for this useless people calling themselves elders either they like it or not ur children's wil suffer for it.

Dasuki is going in there as per jail and this will send a powerful signal to all future Nigerian yam eaters. Leave our 'yam' alone

TonyeBarcanista:

I followed the Blagojevich story till the end.

When FBI indicted him, his approval rating dropped to a record low of 13%. What does that tell you? Opinion leaders and even members off his Democrat party led the call for his resignation/impeachment and supported prosecution. The state House of Representatives overwhelmly impeached him. The Senate overwhemly convicted him and sacked him.

It is only in Nigeria that some people and their party will be defending corruption.

Nigerian & Nigerians deserve each other!!

The network of Corruption is as old as Nigeria. Now someone should tell me why Buhari should not be supported by all Nigeians irrespective of tribe, religion or political affiliations?

Nigeria would have been auctioned had it been PDP continued in power. See how money is being shared and lives of soldiers are being wasted in the North east. May Dasuki rot in jail!

modath:



Nigerian & Nigerians deserve each other!!

And it must be nipped to the bud

....and some idiot will still have to nerve to scream "witch-haunt on nairaland. ....and some idiot will still have to nerve to scream "witch-haunt on nairaland. ....and some idiot will still have to nerve to scream "witch-haunt on nairaland.

Whoever thought tony anenieh will be confessing like witchcraft. Shameless oldman even at old age.



The last may not have been heard of how funds were disbursed into the bank accounts of some chieftains of the Peoples Democratic Party (PDP). The latest report is that of former Board of Trustees (BOT) chair Tony Anenih who has written to the Economic and Financial Crimes Commission (EFCC), explaining how he disbursed the N260 million paid into his bank account from the Office of the National Security Adviser (ONSA). The anti-graft agency is investigating this as it believes the N260million came from the misappropriated $2.1 billion arms funds.




According to the letter Anenih wrote to the EFCC, he said he gave N63 million to a group coordinated by a former Special Assistant to former President Shehu Shagari (National Assembly Liaison), Alhaji Tanko Yakassai, for the 2015 presidential election. The Edo-born elder statesman however noted in the letter that he didn’t benefit from the money, but only shared it as he was instructed to. Anenih's letter is coming less than 24 hours after PDP National Publicity Secretary Olisa Metuh was grilled for 9 hours and has been detained over an alleged N1.4billion traced to a company in which he has a stake.



http://dawntodusknews.com/how-i-shared-n260million-from-dasuki-pdp-chieftain-tony-anenih/[/quote][b][/b]

Corruption appears to have become a deity in Nigeria having huge worshipers. I wonder how this nation will grow if we tolerate corruption. The number of times I come across the word "corruption" daily has brought reproach to our nation and yet we treat it as if it a honourable thing. I am ashamed of Nigeria, I feel we have lost our pride and glory.

Its not possible for him not to have benefited... The government should go back to their books, it must have been more than 260m in which he was given his share as the paymaster or their was a fraudulent deal in which he was one of the majore share holders and paid the foot soldiers.

As far as am concerned the man used the wrong sum quoted and felt it a blessing to downplay a major fraud thats yet to be discovered

modath:

Jonathan should not be allowed to go scot free!!

The crux of this matter is that, Hero used funds meant to secure lives & properties of average Nigerians to induce voters to give him a 2nd term that he didn't deserve!!

EoD!!

*modified*... Omenka, maybe the plan is to punish the folks who carried Jonathan's instructions severely in order to act as deterrent to others since he is "untouchable"

He will get served, Karma will serve him COLD. .

breeze don blow to reveal foul nyash..all na because Jonathan lost the election..the question is...now that we all know the source of Jonathans campaigne funds,where then did Buhari get his funding from

olafirstt:
what do you mean by average 85percent naigeria are seriously pain of hunger

I concur, bro. That "85 percent" is the average.

Only from the office of nsa that all these money are coming from, just in one ministry, if we move on to oil sector we be talking about billions

Thoroughly conscienceless old man. Only repentance stands between him and an ignominious eternity after bequeathing a legacy of curses to his scion.

having read dis story painstakingly,I concluded that there is no substance in d story.I strongly believe it to be false as,d writer only talked abt 63 million naira being disbursed.wot abt d remaining 197 million naira?Amala journalism.