CBN got specific instruction to ensure billions were moved from the bank directly to the residence of the former president


Few days after Vice President Yemi Osinbajo described grand corruption as the elephant in the room when discussing the Nigerian economy, more compelling details are emerging showing how several tranches of funds were illegally removed from the public till by the Jonathan administration specifically ahead of the 2015 presidential elections.


Besides, some new but dramatic details of how some of the funds were illegally transported from the Central Bank to the private residence of the former President Goodluck Jonathan have now emerged. In that particular case the former NSA personally supervised the physical transfer of the money from the CBN vaults to the private residence of the former President.


In one particular instance over N70 billion was released in parts from the national treasury between January 8 and February 25, 2015. The over $289M which was also referenced last week by the Vice President is said to be included in this particular series of illegal transactions. (


Besides that in another illegal disbursement, the minutes of the Central Bank board meeting of 25th August 2014 indicated the board's okay of another N60B requested by the former President and released later by the Central Bank.


A Presidency source said that sum which was okayed by the CBN board was not tied to any project or procurement, and was meant and disbursed purely for campaign purposes, through the office of the then NSA and the SSS leadership at the time.


Specifically that N60 billion that was okayed by the CBN on August 25, 2014 was said to have been shared between the two security agencies thus: N40B went to the NSA while N20 billion was released to the State Security Services (SSS).



While some of these newly emerging fund disbursements have been traced to the former NSA, there are indications that some of the funds are unconnected to the ongoing Defence contract trials of the former NSA,while some might.


Osinbajo, in a recent speech, had alleged that weeks to the 2015 election under the administration of former president Goodluck Jonathan about N100B was released and embezzled. He also disclosed that about $289m was disbursed illegally about the same time.


It has now been revealed that the $289m mentioned by the Vice President was released on February 25, 2015


Documents including cash vouchers indicate that $289,202,382 was released in cash to the NIA by the Central Bank of Nigeria from the Joint Venture (JV) Cash Call Account No. 000-0000-11658-366 of the NNPC/NAPIMS with JP Morgan Chase Bank, New York, USA.


At the exchange rate then of $199 to a naira, $289m is equivalent to about N60 billion. But had the money not been stolen, it would be at today’ s rate over N104B.


Further findings showed that in yet another set of illegal fund withdrawals under one week between January 8 and 16, 2015, the sum of N1.5 billion was released in three tranches of N300m, N400m and N800m respectively.


“This money was released from the MEA Research Library Account to the Jointrust Dimension reportedly owned by Danjuma Yusuf and Nenadi Esther Usman,” an official source with knowledge of the transaction disclosed.


The source further said the sum was transferred to their various political associates, which included a former minister of aviation, Mr. Femi Fani-Kayode.


Further findings showed that N350 million was allegedly transferred to Femi Fani-Kayode through his Zenith Bank Account No. 1004735721, on February 2, 2015.

Also, another N250 million was allegedly transferred to Fani-Kayode through the same Zenith Bank Account on February 19, 2015.


A document further showed that yet another N10 billion was released to the Office of the National Security Adviser by the Central Bank of Nigeria (CBN) on September 15, 2014.


The money was said to have been released in tranches of foreign exchange of $47 million, $5 million, 4 million Euros and 1.6 million Euros.

A letter from the Office of the NSA in November, 2014 further showed that the monies were released by the CBN as ‘funds for special services’.


“Further to our discussion, you are pleased requested  to provide the sum of Forty Seven Million United States Dollars (USD47,000,000,00)cash out of the Ten Billion Naira (N10,000,000,000,00) and the balance in Euro to this office for special services,” a letter signed by the former NSA read.


Findings have shown that this particular CBN release of N10B was sourced in November 2014 from a N40 Billion CBN released funds meant for Corporate Social Responsibility, CSR. It was this N10B that former President Jonathan instructed the CBN Governor and the then NSA to deliver to him personally in a private residence in Abuja. Sources said the money was illegally transferred using CBN van for the use of “PDP Presidential Primaries.”

Source plsss

There was life during jona time
Right now with Apc nothing but death..
Buhari the terrorist .
Leader of boko haram
Chairman of fulani killers herdsmen
President of death

This strategy of blaming past leader is fast becoming stale. Let this govt stop innocent killings and abduction of innocent Christians and minority tribes instead of blaming past leader they are suppose to persecute.

Wow! This is shocking.
These people nearly sold Nigerians out.
Imagine if they had continued, God forbid.

GavelSlam:
FFK received 600 million Naira for no apparent reason and he has followership here on Nairaland. Hungry Nigerians o!!

Yet these same hungry Nigerians ask for a better nation.

E no go better for any of his supporters asking for a better Nigeria.


Amen.

What is stopping the government from prosecuting Jonathan? So because someone allegedly stole, people should continue to die of hunger.

CodeTemplar:
This strategy of blaming past leader is fast becoming stale. Let this govt stop innocent killings and abduction of innocent Christians and minority tribes instead of blaming past leader they are suppose to persecute.

Let not your mouth put you in trouble, the Government has nothing to do with killings anywhere.

limeta:
There was life during jona time
Right now with Apc nothing but death..
Buhari the terrorist .
Leader of boko haram
Chairman of fulani killers herdsmen
President of death

Stop being stupid!
Thesame man whom you are praising nearly sold you out by looting everything we have in Nigeria.

Frankonuche:

Let not your mouth put you in trouble, the Government has nothing to do with killings anywhere.

The government has refused to declare a terrorist group as terrorist and turn a blind eye to their activities, what has BH done that herdsmen haven't done?

Frankonuche:

Stop being stupid!
Thesame man whom you are praising nearly sold you out by looting everything we have in Nigeria.

Stop pretending to be stupid and let the govt prosecute any thief. is Jonathan above the law?

This govt should be more concerned about enforcing equality of citizens and replacing Audi Ogbe with a vibrant and focused personality like former agric minister, Adeshina or even Emefiele of CBN who is more active in agric related matter than Audu.

A rudderless govt with nothing to show that is so obsessed with spreading corruption propaganda and exaggerations against previous administration, but adamantly unwilling to investigate their own sea of public officials accused of corruption, from World's renowned grass cutter, Buratai Dubai houses, Secret Instalment of Maina, $25 billion NNPC contract fraud, Aso Rock Clinic N3 billion budget, Abba Kyari MTN deal, buhari London medical expenses using public funds, Foreign exchange scam with CBN and numerous others should never be taken serious.

Frankonuche:

Let not your mouth put you in trouble, the Government has nothing to do with killings anywhere.

Killings have nothing to do with government according to you but you forget government is suppose to protect citizens. Let not you stomach or short term interest put you future in jeopardy.

saaron:
A rudderless govt so willing and eager to spread corruption propaganda against previous administration, yet adamantly unwilling to investigate their own public officials, from World's renowned grass cutter, Buratai Dubai houses, Secret Instalment of Maina, $25 billion NNPC contract fraud, Aso Rock Clinic N3 billion budget, Abba Kyari MTN deal, Foreign exchange scam with CBN and numerous others should never be taken serious.

Me am not against prosecuting corrupt opposition members but let the govt go after Jonathan once and stop using 'sweet' negative news to distract the masses from holding them accountable. Can you imagine if the Christian Dapchi case was against a Muslim and happened under OBJ or GEJ ?