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Nairaland Forum / Nairaland / General / Politics / Fg’s N3.1 Trillion Revenue Loss Traced To An Individual (2862 Views)
EFCC Seizes 14 Properties Traced To Ex-fct Minister Mohammed, Son / Nigeria’s Oil Revenue Loss Hits N10.1bn Daily / Fg’s N3.1 Trillion Revenue Loss Traced To An Individual (2) (3) (4)
Fg’s N3.1 Trillion Revenue Loss Traced To An Individual by Macclane(m): 6:19am On Mar 13, 2016 |
Apparently believing that he had heard and seen the worst of how corrupt practices have brought Nigeria to her knees, President Muhammadu Buhari, last week, almost lost his cool when it was brought to his attention that a whopping $16 billion - at the official exchange rate of N196, this comes to N3.136 trillion; while, with the parallel market rate of N315, it comes to a whopping N5.04trillion) of the nation’s crude oil revenue loss could be traced to some sharp practices by some individuals in Nigeria’s oil and gas sector. The quantum of funds in question are revenue that ought to have accrued to the Federal Government of Nigeria through oil-lifting deals which are now subject of intensive investigations. Specifically, one of the arrow heads of the crude oil lifting scam, who has been invited and interrogated by the Economic and Financial Crimes Commission, EFCC, at least twice before, has been granted administrative bail, and “who is alleged to be warehousing a sizable chunk of the money, drew the ire of Mr. President”, an Aso Rock Presidential Villa source disclosed. Sunday Vanguard learnt that even visiting South African President, Jacob Zuma, was caught in the cross winds of Buhari’s reinvigorated mode of anti-corruption, as he ordered that every kobo of the stolen funds must be recovered. Similarly, information suggests that the government of the United States of America is helping in the provision of intelligence on how to trace some of the stolen funds from Nigeria. Benin Republic and South Africa have both become safe havens for Nigeria’s stolen funds investigations have revealed. $16BILLION Sunday Vanguard learnt that once the revelations were made to Buhari, he ordered that EFCC must ensure that the looted funds are recovered. According to Aso Rock insiders, the funds were “supposed to be proceeds from some of the crude oil sold on behalf of the Federal Government of Nigeria by these people and for which they were said not to have made the necessary returns to the coffers of the country”. Continuing, one of the sources said: “You needed to have been there. You needed to have seen Mr. President. He was almost moved to tears at the colossal fraud that had taken place in the country. “He became dejected because at a time when the nation’s resources had gone down badly, at a time when the foreign reserves are also not as much as would be befitting of a nation with vast potentials, such a huge amount of money can be traced to the illegal activities of some people. “But Mr. President has ordered that every kobo must be recovered. Whatever it takes, he has made it clear that those funds must be recovered.” Records of the oil-lifting schedules, timelines of transactions as well as proceeds that were meant to have accrued to government, the source said, “showed that some people just constituted themselves into a parallel government and were just making away with the nation’s resources.” TRACING STOLEN FUNDS Sunday Vanguard learnt that, as part of its bilateral agreement on intelligence sharing and anti-money laundering surveillance, the government of the United States is collaborating with the Buhari administration on how to trace some of the stolen funds domiciled in other countries - Benin Republic and South Africa have been identified as safe havens. Part of the visit of South African President Jacob Zuma was said to be on the apparent reluctance “of the South African government to repatriate some funds stashed in the country.” It was discovered that whereas the Federal Government has relaxed its forex policy, there has been a heavy movement of cash (in dollars) from Benin Republic back into the system in Nigeria. The simmering diplomatic row between Nigeria and South Africa, sources disclosed, has more to do with the seeming unwillingness of the South African government to repatriate alleged stolen funds that have been traced to that country. “This was part of what President Zuma came to resolve with Nigeria during his visit last week,” Sunday Vanguard said. http://www.vanguardngr.com/2016/03/fgs-n3-1-trillion-revenue-loss-traced- |
Re: Fg’s N3.1 Trillion Revenue Loss Traced To An Individual by HungerBAD: 6:19am On Mar 13, 2016 |
what? 1 Like |
Re: Fg’s N3.1 Trillion Revenue Loss Traced To An Individual by rottennaija(m): 6:28am On Mar 13, 2016 |
This our relationship with south Africa appears to be one-sided. Despite the help we offered them 1 Like |
Re: Fg’s N3.1 Trillion Revenue Loss Traced To An Individual by Elchappo: 6:30am On Mar 13, 2016 |
Nwanne, Nigeria can only be fixed if what happened during Noah can happen again.. As for me, I dey go build canoe.. 8 Likes |
Re: Fg’s N3.1 Trillion Revenue Loss Traced To An Individual by Sunnymatey(m): 6:33am On Mar 13, 2016 |
Who are this people? Are they ghost? 2 Likes |
Re: Fg’s N3.1 Trillion Revenue Loss Traced To An Individual by EasternActivist: 6:33am On Mar 13, 2016 |
$16billion. Buhari body odour must have made the individuals not to fear God. And this corrupts practice was allowed to happen under PMB. The revered MR.Integrity Lol... Assuming it was under Gej the whole Nigeria would have been boiling by now. Clueless presidiot 5 Likes |
Re: Fg’s N3.1 Trillion Revenue Loss Traced To An Individual by nabiz(m): 6:34am On Mar 13, 2016 |
This one bobo juice. ...don't the suspects have names? |
Re: Fg’s N3.1 Trillion Revenue Loss Traced To An Individual by anonimi: 6:37am On Mar 13, 2016 |
Macclane: How did SOME individualS become just one individual? Stories of propaganda by a confused federal administration. www.nairaland.com/attachments/3487934_facebook20160217203110_png9d101a62a7f85ccae216ad246dbde300 8 Likes 1 Share |
Re: Fg’s N3.1 Trillion Revenue Loss Traced To An Individual by rhymaster: 6:40am On Mar 13, 2016 |
Nigeria must recover every kobo and punish the looters, even if it is capital punishment! Be it Jonathan, his wife or anybody else! The haters of Nigeria will not be happy at this but we don't care, we need to fix this country no matter how sad and hateful they feel. 3 Likes |
Re: Fg’s N3.1 Trillion Revenue Loss Traced To An Individual by rhymaster: 6:43am On Mar 13, 2016 |
anonimi: Here they come: haters! You can criticize and vent your hatefulness forever, this country must move on and be better! Even if you live outside Nigeria, the failure of the government and country you so much hate will cause untold suffering to your family too! Quit this negative and hateful attitude. Even if you don't, it will not stop Nigeria from progressing and striving to be better. 6 Likes |
Re: Fg’s N3.1 Trillion Revenue Loss Traced To An Individual by BaddieKay(f): 6:48am On Mar 13, 2016 |
The account should have an owner with a NAME now |
Re: Fg’s N3.1 Trillion Revenue Loss Traced To An Individual by Phame: 6:49am On Mar 13, 2016 |
Buhari won't fail because of you thieves and your wailing supporters, by God's grace. 10 Likes |
Re: Fg’s N3.1 Trillion Revenue Loss Traced To An Individual by Macclane(m): 6:51am On Mar 13, 2016 |
What den dose the government do about the money Where dose the money go From the sound if things the money PMB retrieved from looters will be in trillions.!!! That money can start a new state.. #OurEconomy! |
Re: Fg’s N3.1 Trillion Revenue Loss Traced To An Individual by Macclane(m): 6:53am On Mar 13, 2016 |
Phame: What is fail 1 Like |
Re: Fg’s N3.1 Trillion Revenue Loss Traced To An Individual by vedaxcool(m): 6:58am On Mar 13, 2016 |
It is even the wailing media vanguard that carried this news. A punitive law against corruption must be designed and implemented else corruption and its supporters would not yield. 3 Likes |
Re: Fg’s N3.1 Trillion Revenue Loss Traced To An Individual by Phame: 6:59am On Mar 13, 2016 |
rottennaija:they are bunch of 'ingrates'. 1 Like |
Re: Fg’s N3.1 Trillion Revenue Loss Traced To An Individual by Mjshexy(f): 7:15am On Mar 13, 2016 |
Wow..i am tempted to ask where the president, minister of finance, CBN & the anti-corruption agencies where when such huge sums of money were stolen daily, could they have all been sleeping or drunk with ogogoro? Some people do not fear God at all, may they all never know peace for the pains they have inflicted on Nigerians |
Re: Fg’s N3.1 Trillion Revenue Loss Traced To An Individual by mackhunter77: 7:18am On Mar 13, 2016 |
This is just a tip of the iceberg Bubu where were u when an individual (aka some individuals) stole oil funds? I can't cry for u o....get the money back immediately PMB |
Re: Fg’s N3.1 Trillion Revenue Loss Traced To An Individual by Destined2win: 7:22am On Mar 13, 2016 |
This is incredible |
Re: Fg’s N3.1 Trillion Revenue Loss Traced To An Individual by Nobody: 7:25am On Mar 13, 2016 |
Ive discoverd that this failed, corupt and undirectional government of Buhari and Apc only strive on cheap PROPAGANDA. They raise one propaganda or the other whenever the masses begins to get common sense and start wailling. Buhari has failed, Fashola has failed, APC has also failed Nigerians, so their only lifeline is Lies upon Lies and Lies after Lies. All these Lies is to divert attention of the masses from demanding a better change and upliftment of lives, instead of the CHAINS APC has giving. There lies are diverssionery. This goverment of APC is very divissive as they always failed to take responsibility of happenings in the country. All that Buhari and Apc does is to bring MASQURADE to testify against people in court. Shameless, vissionless, irresponsible and directionless. WHERE THERE IS NO VISSION? 2 Likes 1 Share |
Re: Fg’s N3.1 Trillion Revenue Loss Traced To An Individual by Paperwhite(m): 7:31am On Mar 13, 2016 |
Phame:He has always being a confirmed failure,still a failure now(lost control of the economy) & will remain a failure forever as he lacks the charisma to lead a complex nation like ours. 1 Like |
Re: Fg’s N3.1 Trillion Revenue Loss Traced To An Individual by mej67: 7:32am On Mar 13, 2016 |
Na today? Oil theft has been there since 1960 please. Put systems in place and stop all these stewpid one-man chase. It is more cost effective and efficient to systematically stamp the incentives and control lapses that allow such than to use leg, bow and arrow to pursue perpetrators to return stolen funds. That reaks of vendetta. It almost sounds as if Buhari thinks and believes it is his personal money that is stolen. No sytemic approach at all. Meanwhile as you discover one, there are 100s more out there. Put systems QED. 1 Like |
Re: Fg’s N3.1 Trillion Revenue Loss Traced To An Individual by Paperwhite(m): 7:34am On Mar 13, 2016 |
emmydeep:This is the bitter truth that well oriented Nigerians should have grasp by now. 1 Like |
Re: Fg’s N3.1 Trillion Revenue Loss Traced To An Individual by mackhunter77: 7:51am On Mar 13, 2016 |
BUBU ONKY SUBSCRIBED TO BECOME PRESIDENT O HE DIDNT ASK FOR ALL THE ATTENDING CORRUPTION WORK AND THE LIKES LETS BE PATIENT HE BATTLED 16YEARS TO BECOME PRESIDENT....LET'S GIVE HIM THE NEXT 3YEARS TO KEEP TRAVELLING ABROAD AS PART OF THE DEAL We don suffer sha......who has fuel in his fridge should pls contact me 1 Like |
Re: Fg’s N3.1 Trillion Revenue Loss Traced To An Individual by Ucheosefoh(m): 7:58am On Mar 13, 2016 |
Name the individuals or are they too powerful to be named 1 Like |
Re: Fg’s N3.1 Trillion Revenue Loss Traced To An Individual by MathsChic(f): 8:03am On Mar 13, 2016 |
mej67: Sometimes, it's just hard thinking this can come out of educated, rational-thinking humans. So, you want the nation to simply forgo all these stolen millions and leave the thieves to their loots, because "it reeks of vendetta"? 3 Likes |
Re: Fg’s N3.1 Trillion Revenue Loss Traced To An Individual by gbengaizzHe: 8:06am On Mar 13, 2016 |
EasternActivist: People like you confirms that even people with their two eyes intact can be said to be blind! COMPREHENSION! at this stage of your life is important for good an effective reasoning 2 Likes |
Re: Fg’s N3.1 Trillion Revenue Loss Traced To An Individual by gbengaizzHe: 8:08am On Mar 13, 2016 |
EasternActivist: People like you confirms that even people with their two eyes intact can be said to be blind! COMPREHENSION! at this stage of your life is important for good an effective reasoning. Them suppose slap you for dz ur comment 2 Likes |
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