Vice president Yemi Osinabjo has revealed
that a whooping sum of $15billion was lost to the
purchase of security equipment under the watch
of ex-president Goodluck Jonathan.
The Vice President spoke on Monday at the book
presentation of the Ibadan-based elite group,
House of Lords, titled "Nigeria: The Challenges of
Growth and Development, " at the University of
Ibadan.
He stated that the agenda of the president
government was to send strong message to
corrupt officials that corruption was no longer
fashionable.
He said: "When you look at the sheer amount of
money that has been embezzled, the sheer
amount of money lost from any of these various
cases of corruption, you will find that far too
much has been lost.
"It was discovered a few days ago that the total
amount of money lost just to corruption in part
of...and provision of security equipments in the
military is closer to 15 billion US dollars

www.vanguardngr.com/2016/05/15bn-lost-fraudulent-security-equipment-jonathan-osinbajo/

Around $15 billion - equal to
about half the country's foreign currency reserves
- was stolen from Nigeria's public purse under the
previous government through fraudulent arms
procurement deals, the vice president said on
Monday.
Africa's top oil exporter is going through its worst
economic crisis in decades due to the drop in
global crude prices and ministers say these
problems have been exacerbated by the impact
of fraud under previous administrations.
President Muhammadu Buhari, who last year won
election fought on his vow to crackdown on
corruption, has said the theft of "mind boggling"
sums of oil money meant state coffers were
virtually empty in Africa's biggest economy when
he took office last May.
Corruption charges have been levelled against
former military chiefs and companies accused of
involvement in an alleged arms procurement
fraud during the tenure of Buhari's predecessor
Goodluck Jonathan. They have pleaded not
guilty..
The total sum lost to corruption related to the
provision of security equipment to the military
and amounted to around 15 billion US dollars,
Vice President Yemi Osinbajo said.
Endemic corruption over decades has enriched a
small elite but left many Nigerians mired in
poverty despite the country's oil wealth.
Osinbajo's claims are the latest in a string of
allegations by members of Buhari's
administration.
In January, the information minister said 55
people who were government ministers, state
governors, public officials, bankers and
businessmen stole 1.34 trillion naira ($6.8 billion)
over a seven-year period.
The fall in crude prices has eroded Nigeria's
foreign reserves, since oil sales make up around
70 percent of national income, with the central
bank adopting fixed exchange rate to protect
further depletion of its reserves which stood at $
27 billion in April.
Osinbajo, who was speaking at a university in the
southwestern city of Ibadan, said the $15 billion
figure which he alleged had been stolen "is more
than half of the current foreign reserves of the
country".
"It is important to send a message that no public
officer can steal the resources of this country and
expect to escape," he said.
Buhari's presidency ended a period from the end
of military rule in 1999 until 2015 when the
People's Democratic Party (PDP) was in power.
The PDP, now in opposition, has accused the
president of mounting a witch-hunt against its
members.

in.mobile.reuters.com/article/idINKCN0XT1UK?irpc=932

ok

Nigerians are sick and tired of Apc's propaganda. This is just a diversion from the cluelessness and ineptitude of this government.

How I wish I could give this man, a dirty slap. That would correct his brain. Oby Ezekwesili is calling Y̶̲̥̅̊ø̲̣̣̥ǖ O! Y̶̲̥̅̊ø̲̣̣̥ǖ better pickup her call

"Suffer Suffer for world- Amen, Enjoyment for heaven- Amen". This people just believe that any nursery rhyme they sing for us, we will chorus. VP Osinbade continua!

Osinbajo will have the audacity to call himself a pastor. Pastor my ass

Come Osinbade arrange our lives and stop telling us rubbish.