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Nairaland Forum / Nairaland / General / Politics / The End Is Near For Emeka Offor And Other Ex-billonaires. (4443 Views)
Sir Emeka Offor Joins APC / Ekweremadu's Handshake At Emeka Offor's Father's Burial (photos) / Buhari, Donald Trump To Attend Emeka Offor’s Father's Burial (2) (3) (4)
The End Is Near For Emeka Offor And Other Ex-billonaires. by Phreshkid20(m): 6:24pm On Aug 26, 2016 |
ismarck Rewane, the brilliant
business economist and chief
executive of Financial Derivatives Ltd
based in Lagos, has joined the
pantheon of seers. Just before
Muhammadu Buhari was sworn in as
Nigeria’s president on May 29, 2015,
he said on a program on Classic Radio
97.3 FM that many Nigerian business
executives would become ex-
millionaires in a matter of months.
Rewane’s reason was simple: with
Buhari’s creating a new social order
based on the rule of law and
transparency, many government
contractors would be out of business.
Truth be told, most of the contractors
are just rent seekers, business fronts
of those in power.
Since the very day Buhari assumed
office, Emeka Offor, perhaps the most
controversial government contractor
from Anambra State ever, has not
paid staff salaries. Not only have his
offices in Abuja closed down in the
past one year, as SaharaReporters
has just accurately revealed, the
extremely flamboyant politician has
not been able to bury his father who
died in February. He is determined to
spend a fortune on the father’s
burial, as he did on January 3, 2015,
when he celebrated his third
marriage in his village where very
expensive musicians like P-Square
and Flavor played. The essence is so
as to sustain the façade of a super
rich business tycoon, but the
resources are unfortunately no
longer forthcoming. The simple truth
is that Offor is now an ex millionaire.
He is not alone in this club of ex-
millionaires, which, in fact, is growing
rapidly. Offor’s free fall became
public knowledge because a lot of
people have rather been celebrating
his predicament; this owes to his
unsavory relationship with not only
family members but also most people
from his hometown of Oraifite in
Ekwusigo Local Government Area of
Anambra State. We will explain
shortly why his townspeople
celebrate his present acute business
crisis.
If it were in the days of the Peoples
Democratic Party (PDP), Offor and
other Aso Rock contractors, as
President Buhari reportedly described
him before his chief of staff Abba
Kyari, none of them would have been
allowed to experience any form of
discomfort. The national treasury
was practically handed over to the
so-called Big Boys by the PDP, which
delighted in referring to the rent
seekers as party financiers. It was an
era of culture of impunity. Here are
just a few examples. Towards the
end of May of 2014, the National
Deposit Insurance Corporation (NDIC)
ordered 22 banks in the country
where Offor’s Chrome Group had
accounts to freeze them because of a
9.2 billion naira debt owed the
defunct African Express Bank (AFEX),
owned by Offor. The NDIC even went
before Justice Gabriel Kolawole of the
Federal High Court in Abuja to
enforce the order. However, Fela
Anikulapo-Kuti’s “government
magic” came into play. The NDIC
overnight accepted a paltry N1bn as
full and final payment for the N14bn
debt. This was on June 12, 2014. No
reason was given for the acceptance.
But everyone knew that Goodluck
Jonathan’s presidency directed the
financial regulator to lay off a most
beloved son.
In 2013, Offor’s Interstate Electrics
was described by the Bureau of
Public Enterprises (BPE) and the
National Council on Privatization
(NCP) as grossly incapable of doing
the business of electric power
distribution because it did not possess
the technical competence or financial
resources. They, therefore,
disqualified the consortium from
bidding for any of the country’s 11
electricity distribution companies.
However, within 72 hours, Jonathan’s
presidency directed the NCP to
declare Interstate the preferred
bidder for not just the Enugu
Electricity Distribution Company but
also the Abuja Electricity Distribution
Company. Interstate Electrics thus
became the first and only consortium
to become the preferred bidder for
two DisCos! The Jonathan
government then pleaded with Offor
to choose the DisCo it wanted-- and it
picked Enugu. Does anyone still
wonder why the privatization of
Power Holding Company of Nigeria
(PHCN) assets under Jonathan
remains a big mess to this day,
providing the nation more darkness
than light?
Despite the blacklisting of Offor
following the recommendation of a
committee headed by the legendary
Aret Adams in the 1990s for the
monumental fraud and
incompetence exhibited by his
company in the turn-around
maintenance (TAM) contracts of both
the 115,000 per day barrel Warri and
the 150,000 barrel per day New Port
Harcourt refineries during the Sani
Abacha regime, the Jonathan
government furtively awarded the
TAM contract for both the New Port
Harcourt and the Old Port Harcourt
60,000 barrel per day refinery to
Offor’s Chrome in 2014 for an
undisclosed amount. It is safe to
assume that both the government
which awarded the contract and the
contractor were not really interested
in fixing the refineries because no
attempt was made to get the job
done until Jonathan was defeated in
the March 2015 presidential election.
With the defeat, Offor quickly
mobilized to site and promised that
the refineries would come on stream
in September, 2015. All the media in
Nigeria, both print and electronic,
carried the propaganda with flourish.
It is almost a year now but there is
absolutely nothing to show for it.
The rehabilitation was abandoned
almost as soon as it started.
But Jonathan is not the only
president who empowered Offor with
impunity. The Olusegun Obasanjo
administration is perhaps more guilty.
Obasanjo gave him a ChevronTexaco
oil bloc in his last days in 2007 on
what The Wall Street Journal called
sweetheart terms. The deal became
an international scandal. In addition,
Obasanjo awarded him the Bauchi-
Yola electricity transmission line job
for a price that made the World Bank
protest openly. The same
government handed over to him
Nigeria’s interest in the Nigeria-Sao
Tome and Principe Joint Development
Zone, enabling Offor to become the
Lord of the Manor in this small two-
island nation. Obasanjo also gave
Offor contracts for river
channelization in Edo and Ondo
states, among other places, which
were not executed despite full
payments. Obasanjo’s government
provided Offor with police support
and other forms of state assistance
to fight the Chinwoke Mbadinuju
government in Anambra State from
1999 to 2003, so that the ground
would be prepared for Andy Uba, his
Friday man, would become the state
governor.
Therefore, it is very strange for
Obasanjo to claim in an interview
with Premium Times published on
August 5, 2015, to be innocent of
creating the Frankenstein monster
known as Offor. No one is fooled by
the claim. It is known to many
Nigerians that Offor had been
boasting openly how he capitalized
on Obasanjo’s greed to deal with him
ruthlessly. Offor has a reputation of
swindling public officers once they
are out of power. When former Vice
President Atiku Abubakar went to
Offor’s Abuja residence three years
ago straight from Dubai to ask for his
share of the businesses Offor did on
his behalf while he was in public
office from 1999 to 2007, the
government contractor brought out a
machete and threatened to
slaughter Atiku. The ex vice
president fled for his life in broad
daylight! Against this background,
political watchers are skeptical that
ex-President Jonathan, his wife
Patience and erstwhile Vice President
Mohammed Namadi Sambo would
ever receive anything from Offor who
was their business agent when they
were in government.
Finally, back to Offor’s relationship
with his kinsmen in Oraifite, Anambra
State, who have been rejoicing since
the controversial government
contractor fell on hard times. During
in particular the time of Mohammed
D. Abubakar as the Inspector General
of Police, many of our townsfolk
were arrested in a most humiliating
manner and detained for months
with hardened criminals for having
personal disagreements with Offor.
Some of these individuals went to
court against the police and won. It
never ceases to amaze one how M.D.
Abubakar reduced the police
leadership to a Gestapo in the hands
of a barely literate private individual,
who was a driver with Julius Berger
construction firm. The consolation is
that all our people deprived of their
humanity by the police are in the
process of suing Offor and Abubakar
to their last kobo.
It says something profound about the
culture of abomination which the
PDP imposed on Nigeria for a whole
16 years that so-called business
tycoons like Offor could not pay staff
salaries from the very day Buhari
became Nigeria’s president. We salute
Buhari for insisting on things being
done properly. The era of the
Nigerian state serving as a cow to be
milked almost to death by a few
rapacious individuals is gone. We are
now in a new social order. 4 Likes
|
Re: The End Is Near For Emeka Offor And Other Ex-billonaires. by gungab(m): 6:27pm On Aug 26, 2016 |
But why 1 Like 1 Share |
Re: The End Is Near For Emeka Offor And Other Ex-billonaires. by Queennikky(f): 6:29pm On Aug 26, 2016 |
Which kind bad belle player be this 3 Likes |
Re: The End Is Near For Emeka Offor And Other Ex-billonaires. by youngeagle(m): 6:30pm On Aug 26, 2016 |
How much do u hve in ur own account since PMB became president...we likes running each other down because of religion,tribe and party affiliation...think of how to make your own money and stop running ur mouth. 12 Likes |
Re: The End Is Near For Emeka Offor And Other Ex-billonaires. by agwom(m): 6:31pm On Aug 26, 2016 |
Re: The End Is Near For Emeka Offor And Other Ex-billonaires. by okosodo: 6:32pm On Aug 26, 2016 |
Emeka offor owns the grtiz. They have even paid august salary. Wetin una go gain for propaganda? 3 Likes 1 Share |
Re: The End Is Near For Emeka Offor And Other Ex-billonaires. by Slimflame(m): 6:34pm On Aug 26, 2016 |
Chai...dats why phyno stopped calling his name in most of his recent songs 5 Likes |
Re: The End Is Near For Emeka Offor And Other Ex-billonaires. by MadamExcellency: 6:42pm On Aug 26, 2016 |
Is it Emeka Offor that is operating a joint venture in São Tomé and Príncipe with their government that this opinion writer thinks will be ex-millionaire? The man fronting for Baba Iyabo, the architect and maradona of APC, the man that single-handedly put Buhari in power? The author of this epistle has the same mindset with Buhari and with this their much anticipated social order, hunger will finish half of Nigerian population before 2019. Socialism is never self sustaining ask Venezuelan Government. You can't fight the business community, employers of Labour and entrepreneurs without a backlash in form of unemployment and scarcity. Dangote can easily assemble a team of investors around the world to invest and build the Largest refinery in Africa because PDP government propelled him to first-class billionaire in the world. It is a wise concept to make some people of your countrymen billionaires and use them to attract their foreign counterparts to invest in your country for the good of all. Buhari should stop traveling alone without our business community. No Foreign investor wants to do it all alone without collaboration from a Nigerian stockholder. 15 Likes |
Re: The End Is Near For Emeka Offor And Other Ex-billonaires. by DesChyko: 7:00pm On Aug 26, 2016 |
Is it not this 1 Million = 1,000,000 that this OP is talking about? That Emeka Offor's value will soon drop below that figure? OP, you no get talk. That cash cannot even get you a decent house. And you're saying what? |
Re: The End Is Near For Emeka Offor And Other Ex-billonaires. by freshdude99(m): 7:07pm On Aug 26, 2016 |
So its only Offor ur eye see out of all those oldies milking this economy dry? Well like u rightly said, he's a businessman and wen he bids, lobbies and get a contract award, its left for the government of the day to enforce and ensure that the contract is delivered as agreed. Don't blame the man that plays his game well just like dangote and folurunsho instead blame the ineffectual country called Nigeria. Lest u forget, with the cash crunch in this country presently, don't be surprised this govt will still run to such men to finance contracts because they are the once with the cash. Had it been hr stole like u claimed, why has ur incompetent buhari led govt not sent his attack dog efcc after him? Let me just advice u, its best for u to stop hating on anyone God has blessed. The likes of obj, atiku, dangote, tinubu, Offor, Ifeanyi uba, peter obi et al, God don bless them tay tay |
Re: The End Is Near For Emeka Offor And Other Ex-billonaires. by giantstrides(m): 7:15pm On Aug 26, 2016 |
Actually, i believe Emeka is Very Wise, he is simply laying low so as not to attract any anti corruption agency, he is a billonaire, and billonaires don't just become paupers overnight. like this report states, he became poor from the onset of Buhari's administration, this man survived abacha, obasanjo, jonathans government, he is simply waiting for Buhari's exit to resumé his billonaire lifestyle . 2 Likes |
Re: The End Is Near For Emeka Offor And Other Ex-billonaires. by Descartes: 7:24pm On Aug 26, 2016 |
Slimflame: Have you listened to "Fada Fada " by Phyno ? |
Re: The End Is Near For Emeka Offor And Other Ex-billonaires. by Slimflame(m): 7:26pm On Aug 26, 2016 |
Descartes:wat happened to it |
Re: The End Is Near For Emeka Offor And Other Ex-billonaires. by Slimflame(m): 7:26pm On Aug 26, 2016 |
Descartes:wat happen to it 1 Like |
Re: The End Is Near For Emeka Offor And Other Ex-billonaires. by Descartes: 7:29pm On Aug 26, 2016 |
Slimflame:You said he has not been mentioning Emeka Offor |
Re: The End Is Near For Emeka Offor And Other Ex-billonaires. by Slimflame(m): 7:32pm On Aug 26, 2016 |
Descartes:are u emeka offor brother 5 Likes |
Re: The End Is Near For Emeka Offor And Other Ex-billonaires. by Descartes: 7:34pm On Aug 26, 2016 |
Slimflame:Why do you ask? 1 Like |
Re: The End Is Near For Emeka Offor And Other Ex-billonaires. by 989900: 7:35pm On Aug 26, 2016 |
Looking at most commenters above me, don't we deserve the kind of leaders we get, and by extension the hardships borne by such bad leadership? 9 Likes 1 Share |
Re: The End Is Near For Emeka Offor And Other Ex-billonaires. by Slimflame(m): 7:36pm On Aug 26, 2016 |
Descartes:you taking it serious...like say u relate to him |
Re: The End Is Near For Emeka Offor And Other Ex-billonaires. by Descartes: 7:36pm On Aug 26, 2016 |
Sir Emeka Offor, carry go .Arthur Eze did it and it worked. Declare and attention diverted 1 Like |
Re: The End Is Near For Emeka Offor And Other Ex-billonaires. by Descartes: 7:39pm On Aug 26, 2016 |
Slimflame: I was only trying to get you in line of logic by puncturing the lies you were trying to propagate and nothing more. 3 Likes |
Re: The End Is Near For Emeka Offor And Other Ex-billonaires. by Slimflame(m): 7:40pm On Aug 26, 2016 |
Descartes:ok but that doesnt make any meaning |
Re: The End Is Near For Emeka Offor And Other Ex-billonaires. by MadamExcellency: 7:41pm On Aug 26, 2016 |
989900: You mean Nigerians deserves Buhari as a punishment for believing a white lie in 2015? Tell me more, I am interested in your tales. 2 Likes |
Re: The End Is Near For Emeka Offor And Other Ex-billonaires. by EazyMoh(m): 7:42pm On Aug 26, 2016 |
I doubt if this guy would ever become even ex-trillionnaire! |
Re: The End Is Near For Emeka Offor And Other Ex-billonaires. by 989900: 7:59pm On Aug 26, 2016 |
MadamExcellency: 7 Likes |
Re: The End Is Near For Emeka Offor And Other Ex-billonaires. by SlayerSupreme: 8:20pm On Aug 26, 2016 |
Slimflame:Be like say you won collect slap..."Sir Emeka Offor ibu onye nna" sang by Phyno on Fada fada is then what? Respect yourself. |
Re: The End Is Near For Emeka Offor And Other Ex-billonaires. by Slimflame(m): 8:23pm On Aug 26, 2016 |
SlayerSupreme:e pain u
|
Re: The End Is Near For Emeka Offor And Other Ex-billonaires. by SlayerSupreme: 8:26pm On Aug 26, 2016 |
Nonsense post. Because the man is laying low you think He is now poor. Offor has tooo many businesses within and outside Nigeria for him to go broke as the OP is trying to paint. The write-up is poor. 1 Like |
Re: The End Is Near For Emeka Offor And Other Ex-billonaires. by Mcleo007(m): 8:27pm On Aug 26, 2016 |
youngeagle: I think the OP is trying to emphasize the need for individuals to make a honest living. Having so many living poor, with a few super rich is not a ready feature of a sane society. Such a status quo is wrong! 4 Likes |
Re: The End Is Near For Emeka Offor And Other Ex-billonaires. by SlayerSupreme: 8:30pm On Aug 26, 2016 |
Slimflame:Smh |
Re: The End Is Near For Emeka Offor And Other Ex-billonaires. by Abagworo(m): 8:37pm On Aug 26, 2016 |
Mcleo007: No billionaire made his money justly. Every religion believes the money owned by the super rich is but accumulated money from deprivation of poor people and advices any super rich to reduce his wealth by redistributing to the poor whom he sinned against by stealing their money. |
Re: The End Is Near For Emeka Offor And Other Ex-billonaires. by goldenceo1: 9:22pm On Aug 26, 2016 |
Waiting for Emeka Offor to fall short of the millionaires club is like waiting for PMB to solve Nigeria problem b4 2023. 1 Like |
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