phemmyutd:
All these thing happened from 2010 when Gej became Nigeria President.

No wonder he said he made so many Nigerians Billionaire.

How will economy not collapse with all these debts?

MeanChris:
So Dangote does not owe a dime?? NAh come on... Even if its not the alleged 209billion or so.., he's gotta be owing some money

Businessideas:
That Osigwe Foods and Agro get as e be o
I used to think Osigwe is an Igbo name, never knew it is Hausa /Muslim name

MeanChris:
So Dangote does not owe a dime?? NAh come on... Even if its not the alleged 209billion or so.., he's gotta be owing some money

phemmyutd:
How much did Gej met in our foreign reserve and how much did he left,

FG, States, LGs Share N568.4 Billion for Oct
15 NOVEMBER 2013


[img]http://cdn1.vanguardngr.com/wp-content/uploads/2015/09/412x247xOkonjo-Iweala-e1442838220305.jpg.pagespeed.ic.nz-K0adxSv.webp[/img]



Also, $1billion was proposed for distribution to complement shortfall in expected revenue." The $1billion is a compromise by the FG over its words in September not to augment shortfalls anymore.

Responding to the presentation, the chairman of the States Commissioners of Finance and Ebonyi State Commissioner of Finance, Mr Timothy Odaah, lamented that the statutory allocation was getting smaller and smaller. "It appears this is the worst in terms of returns. This is the least in allocations as far as this year is concerned. We are mourning the dearth of funds and this is a wakeup call for states and local governments to buoy up their internally generated revenue."

While appreciating the "magnanimity" of President Goodluck Jonathan to approve the $1billion from the excess crude account and to be shared among the federal, state and local governments, Odaah expressed disappointment with the returns made by the NNPC.

He said that [size=14pt]the states had requested for $2bn[/size] to complement for the shortfall in revenue but got only $1billion. In September, Odaah and fellow commissioners had walked out of the Accountant General of the Federation (AGF) when the federal government said that the framework of the 2013 budget was no longer realistic and it won't augment shortfall in revenue. Odaah raised issues with the statutory allocations of previous months.

More from: http://allafrica.com/stories/201311150323.html

[size=14pt]Tinubu Tackles FG, CBN On Excess Crude Oil Sales Account[/size]
Feb 22, 2001









The Lagos State Governor, Senator Bola Ahmed Tinubu, yesterday joined issues with the Federal Ministry of Finance and the Central Bank of Nigeria (CB N) over the recent face-off between the different tiers of government on the excess crude oil sales reserve account of US$ 1. 8 billion which is about N198 billion.

Expressing concern at the impression being created that the economy is rudderless, Tinubu argued that the central issue transcends the release or non-release of the fund into the Federation Account.

In his words: “The fundamental issues and principles at stake go much deeper. They are more broadly about the rule of law and the supremacy of the constitution on one hand, and the need for cooperation and coordination in a true federal structure, as a basis for sustaining and strengthening our fledgling democracy on the other hand”.

Governor Tinubu [size=14pt]disagreed with the CBN's position that release of the excess crude reserves to the states and local governments, though legitimate, [/size]would lead to inflation; cause a rundown of the nation's foreign reserves; weaken the exchange rate further and run counter to agreements reached with the IMF.

The Governor contended that "in a period of excess capacity and low purchasing power, there should not be undue inflationary pressures from an injection of funds into the economy. Instead, such a development should be beneficial to economic activity and growth, despite the fact that there are supply rigidities and inefficiencies which would limit the potential benefits”.

On the purported likely impact on foreign reserves, Tinubu argued that "in an import-dependent economy such as ours, it is inevitable that an upturn in the level of economic activity would engender a fall in foreign reserves. This is not necessarily a bad thing. Rather, it would be immoral to appear to be building up high foreign reserves in the midst of grinding poverty”.

He stressed further that if the N198 billion released is matched by an equivalent US$1.8 billion, there should not be a fall in the value of the Naira as the supply of dollars would be in place to match any increased demand”.

Tinubu also said it would be unfair for the federal government to agree unilaterally to commit revenues due to other tiers of government, to an agreement with the IMF or anyone else.

Attributing inflationary pressures in the economy largely to the federal government's overspending and printing of money to finance such expenditure, Tinubu said "It is hardly fair for the FGN to overspend and then seek to correct the inflationary effect on the economy by starving other tiers of government of their rightful funds”.

Stressing that there is no basis for CBN or any authority to flout the constitution and deny states and local governments their own share of the Federation Account, Tinubu noted that "the excess crude reserve account is itself an illegality, carried over from the military era, as there is no provision in the law or the constitution for federally - collected revenues to be diverted to such an account”.

Advocating constructive dialogue on the management of the economy Governor Tinubu said "it is time for us to sit down and dialogue about how to move from where we are now, to where we need to get to, while respecting true federalism in fiscal and other matters”.

From: http://asiwajubolatinubu.com/archives/news/2001/02/22/20010222N01.html

Keneking:
One triliona Naira in the hands of characters taking undu e advantage of poor corporate governance and PDP membership.

Jonathan sef

kayfra:


Edo name. Why is it important?

Businessideas:
That Osigwe Foods and Agro get as e be o
I used to think Osigwe is an Igbo name, never knew it is Hausa /Muslim name

Tolexander:
This is where Name Checker Association of Nairaland is needed, not the usual tribe bashing threads.

All the dates of purchase coincide with the time Goodluck Jonathan became the president of Nigeria.

Well, Goodluck Jonathan's destiny was to bankrupt Nigeria!

Enahi:


Auchi don't bear such names excerpt you are from igbanke in Edo state.

MeanChris:
So Dangote does not owe a dime?? NAh come on... Even if its not the alleged 209billion or so.., he's gotta be owing some money

rusher14:


Some Auchi peeps go by that surname.

NOETHNICITY:
That name is an Edo name!

Etinosajay:


Osigwe is an ibo name. Osigbeme is an auchi name.


You'll know an auchi last name when you see it.

Like Momoh, osigbeme,

neocortex:


What an ignorant comment!

AMCON was created in 2010 to pay back the loan owned by borrowers
to prevent banks from collapsing.

Hence, the dates you see is when the debt was transferred to AMCON
not when the loan was borrowed.

Now those individuals are no longer owing banks but AMCON.

rusher14:


Speak as far as you know.

I maintain some Auchi people, ihebhe to be exact, I bear that surname.

Pavore9:


U no well because of ftc you cc me!

amaechi1:


There you people go again. These are depositors monies. Which I am sure if you do bank, yours will be part of this money.

Please, stop attaching ethnic sentiment in everything. Poverty does not discriminate religion or tribe. When she come to anyone door post, it will take the Grace of God to push her away.

49cents:


how i for do nah

Etinosajay:


Momoh, osigbeme are auchi names


Osigwe is ibo.

Look up Mike Anyiam Osigwe on google


If you claim it is auchi, what does it mean?

martineverest:
it could be auchi/edo north or igbanke(edo ibo)

olapluto:
These are the people Nigerians should fight tooth and nail to get to pay. We are here playing silly ethnopolitical games while thieves of all tribes triumph by taking BILLIONS of naira.
Mr Ifeanyi Ubah is owing over 100 Billion Naira. That is the IGR of Oyo state for 80 months, or 6.5 years.

rusher14:


http://www.ireporteronline.com/p26824_happening-now-pandemonium-in-auchi-as-security-personnel-kills-3-studentsphotos

Please see the link for the correspondent's name or do Igbos bear Omo Ikirodah as first names too?

dammytosh:


No.

They set up AMCON to bail their cronies.

YOU borrow money and u cnt pay back, instead of bank embarrassimg you because they have to make provision for it from their profit, they sell to AMCON who will use FEDERAL govt money to buy the loan and leave you alone.

Etinosajay:


http://www.anyiam-osigwe.com/pages/index.php?option=com_content&view=article&id=141&Itemid=659

You too read.

Do auchi peeps bear Nze or chibueze?

http://www.imostateblog.com/2014/12/02/an-eyewitness-account-of-how-michael-anyiam-osigwe-was-killed/

gwmlogistic:

Yes Dangote is owing. I hope that makes you happy
But Dangote services his debt and cannot be on that list, I know that makes you sad.
You cannot run a successful business empire without owing but you have to be smart and diligent enough to payback