CBN Governor Lamido Sanusi, CBN Headquarters in Abuja

The Governor of the Central Bank of Nigeria, Mr. Lamido Sanusi, has said that more former bank chief executive officers facing trial for criminal offences will go to jail.

Sanusi, while briefing journalists on the sidelines of the ongoing World Bank/International Monetary Fund meetings in Washington DC, United States on Saturday night, said that the CBN had enough evidence to convict the sacked CEOs.

The Minister of Finance, Mr. Olusegun Aganga, who also addressed journalists, said that the Nigerian economy, with a 7.4 per cent growth rate in the first half of 2010 , had been ranked the third fastest growing economy in the world. The top two are China and India.

Sanusi, spoke against the backdrop of the conviction of a former Group Managing Director of Oceanic International Bank Limited, Mrs. Cecilia Ibru, on Friday.

He said, “I have no doubt in my mind that we have enough evidence to convict everybody that we have charged. It’s just that it can take a long time, 

“In each of those banks, I know what I saw and I told the public from the very first day. I have no doubt in my mind that every one of those people (sacked bank chiefs) that are being tried for criminal offences will go to jail.”

He commended the Ministry of Justice for doing a good job on the judgment against Ibru.

Sanusi said, “I’m not personally happy at somebody’s misfortune, but I think as a country, we have to make sure that when a law is broken in such a manner, people must pay a price and that is the important lesson.

“The fact that Mrs. Ibru has been convicted is a big lesson for the elite and for the rich and the powerful because nobody thought it could happen.

“It’s not a perfect conviction, it’s not ideal, maybe I would have wanted more in the circumstances, but the Justice Ministry has done a very good job.

“You must not forget that the total cost of assets in the books of Oceanic Bank was N191bn, that is the highest recovery in criminal trial in the history of Nigeria and that is money going to depositors.

“I commend the Minister (Justice) for holding firm on this and the political support that remains after the transition is also very important.

“When people said that the bank chiefs would eventually walk out free after the death of the late President Umaru Yar’Adua, I said I knew President (Goodluck) Jonathan as Vice-President and that it would not happen.

“I think this is a good thing for the country because it has shown that nobody listens to all the talk about somebody is my friend or somebody is from a part of the country anymore.

“Whoever you are, if you commit an offence, if you cross a line, you will pay a price for it.”

The CBN governor, who said the N191bn would go back to depositors, added that whatever value the Asset Management Corporation of Nigeria put on Ibru’s seized assets would go back to the bank’s books.

He , however, described Ibru’s admission to the three of the 25 counts of fraud and mismanagement against her as “honourable.’’

Sacked chief executive officers of Intercontinental Bank Plc, Union Bank of Nigeria Plc, Bank PHB Plc, Finbank Plc and Afribank Plc, among others, are currently facing trial for offences ranging from reckless credit management to outright stealing.

On the allegations against him and others by the former Group Managing Director, Intercontinental Plc, Mr. Erastus Akingbola, Sanusi said it was better to wait and see what would happen at the end of the court cases.

On the alleged planned take-over of Intercontinental Bank by Kwara State Governor, Dr. Bukola Saraki, he said, “If you had money and you want to buy a bank, would you acquire a bank with a negative capital of N400bn? Why?

“To the best of my knowledge, Dr. Saraki, has been struggling to get Societe General Bank of Nigeria back on its feet; he doesn’t have enough money to recapitalise Intercontinental Bank. I’ve never had any such discussion with him. But it’s a political time and people make all sorts of comments.”

He also noted that by the end of October, 2010, a significant proportion of the banks would be able to announce the names of their preferred strategic partners in terms of recapitalisation.

On the licences of the 224 microfinance banks that were revoked, Sanusi said the action was taken after thorough investigations.

He added that if the apex bank could verify that any of the MFBs had raised enough capital, its licence would be restored.

Sanusi was named the “Central Bank Governor of the Year, sub-Saharan Africa” by the global business magazine, Emerging Markets.

The organisers of the award said this was in recognition of his radical intervention in Nigeria’s financial sector, which has prevented an “impending bigger collapse” at the height of the Nigerian banking sector crisis last year.

Also speaking with journalists, Aganga described Nigeria’s growth rate as a good development, especially at a time the economies of the developed countries were contracting.

He added that, with new policies being initiated by the Federal Government, “this could be the defining decade for Nigeria.”

The minister also said that the future was bright for the Nigerian economy, which according to him, was yet to fully harness its abundant human and natural resources.

The IMF had in its World Economic and Financial survey made available to journalists in Washingtong DC, on Thursday, said that Nigeria’s output real Gross Domestic Product was expected to accumulate from seven per cent in 2009 to 7.4 per cent in 2010/2011.

The fund, however, predicted slow growth for Nigeria, compared with the Republic of Congo, Botswana and Ethopia, which it said would grow at 10.6 per cent, 8.4 per cent and eight per cent, respectively in 2010.

http://nigerianbulletin.com/2010/10/11/more-ex-bank-chiefs-will-be-jailed-%E2%80%93-sanusi-the-punch/

they must all go to jail

im sure most of dem will pretend to be sick,so dat dey can use most of their jail terms in hospital instead of kirikiri,,

This is serious.

they must all remain free if they are only going to get 6 months sentences.

^^^^hehehehe

Sanity is gradually returning to most bank CEOs.

i dont mind getting 6 months too for some serious fraud!!!, jail these mur*der*fuc*kers, 5 years upward, 6 months is a joke

ibru and co should be jailed for life. its saddening to know that their families live off stolen money. i think their families should also be stripped of every dropping these thieves have stolen, Period,,,

Sanusi, what it do?

http:///qvG1

if they want to go to jail let it start from ateleast 10-15 years and not the usual 6 month or whatever they give ,

martinosi:

WHAT A LOAD OF BULL!!! CRAP UPON CRAP, WHY R THEY BEING SET TO JAIL,
HOW MANY BANKERS WERE CONVICTED IN THE USA/EUROPE IN REGARDS
TO THE FINANCIAL CRISES

NIGERIANS ARE ALWAYS OVER-DOING THINGS!!!

SENDING THE BANKERS TO JAIL, WHAT A LOAD OF RUBBISH,
IF THEY ARE GOING TO SEND THE CEOs OF BANKS TO JAIL THEY SHOULD
SEND THE BOARD OF DIRECTORS OF THE BANKS ALSO

LOAD OF BULLSH*T,

WE ALL KNOW AT MY OFFICE @ CANARY WHARF THAT SANUSI AND HIS POSSE ARE
HAVING A LAUGH!!! PURE RUBBISH!!!

SENDING THE PATSEY'S TO JAIL WHILE THE REAL CROOKS STILL COME TO
OUR OFFICES AT CANARY WHARF AND THE CITY (SQUARE MILE OF LONDON)
TO LOOK FOR NEW WAYS THROUGH FINANCIAL VEHICLES & INSTRUMENTS TO SIPHON FUNDS!

WHAT A LOAD OF RUBBISH!!!

Which Canary Wharf?

CBN Governor Lamido Sanusi, CBN Headquarters in Abuja

The Governor of the Central Bank of Nigeria, Mr. Lamido Sanusi, has said that more former bank chief executive officers facing trial for criminal offences will go to jail.

Sanusi, while briefing journalists on the sidelines of the ongoing World Bank/International Monetary Fund meetings in Washington DC, United States on Saturday night, said that the CBN had enough evidence to convict the sacked CEOs.


He said, “I have no doubt in my mind that "WE" have enough evidence to convict everybody that we have charged. It’s just that it can take a long time, (Who is we?).

“In each of those banks, I know what I saw and I told the public from the very first day. I have no doubt in my mind that every one of those people (sacked bank chiefs) that are being tried for criminal offences will go to jail.”

He commended the Ministry of Justice for doing a good job on the judgment against Ibru.


“It’s not a perfect conviction, it’s not ideal, maybe I would have wanted more in the circumstances, but the Justice Ministry has done a very good job.

“To the best of my knowledge, Dr. Saraki, has been struggling to get Societe General Bank of Nigeria back on its feet; he doesn’t have enough money to recapitalise Intercontinental Bank. I’ve never had any such discussion with him. But it’s a political time and people make all sorts of comments.”

A man who does not understand the basics of self image and diplomacy cannot be taken seriously. All those utterances could otherwise be representative of an uneducated and unexposed privileged public servant.

Until this dude learns how to address rightfully, I can only take all he says with a pinch of salt.

martinosi:

WHAT A LOAD OF BULL!!! CRAP UPON CRAP, WHY R THEY BEING SET TO JAIL,
HOW MANY BANKERS WERE CONVICTED IN THE USA/EUROPE IN REGARDS
TO THE FINANCIAL CRISES

NIGERIANS ARE ALWAYS OVER-DOING THINGS!!!

SENDING THE BANKERS TO JAIL, WHAT A LOAD OF RUBBISH,
IF THEY ARE GOING TO SEND THE CEOs OF BANKS TO JAIL THEY SHOULD
SEND THE BOARD OF DIRECTORS OF THE BANKS ALSO

LOAD OF BULLSH*T,

WE ALL KNOW AT MY OFFICE @ CANARY WHARF THAT SANUSI AND HIS POSSE ARE
HAVING A LAUGH!!! PURE RUBBISH!!!

SENDING THE PATSEY'S TO JAIL WHILE THE REAL CROOKS STILL COME TO
OUR OFFICES AT CANARY WHARF AND THE CITY (SQUARE MILE OF LONDON)
TO LOOK FOR NEW WAYS THROUGH FINANCIAL VEHICLES & INSTRUMENTS TO SIPHON FUNDS!

WHAT A LOAD OF RUBBISH!!!

Go jump in a river

It is very saddening that most Nigerians and even many Nairalanders are ill-informed and lack depth about the happenings in the banking Industry. I work in a Financial organization, and I am a Risk analyst; I will like to say that Sanusi has done more harm than good to the banking industry in Nigeria. I read about the judgement, and I have been following Sanusi utterances lately, and it is very disgracing that the person heading our CBN lacks intellectual depth, The CEOs were alleged to have given out loans above limits? Can point to any CEO in of the bank who is not guilty of this. When Sanusi was in First bank as the head of risk management, were loans not given out without due dilligence? If BOFIA should be followed in details Sanusi should be in jail too now, The point is that, in Business, there atimes that business exigencies will allow some rules to be flouted, but later you have to regularise. Even in America, big and well manged banks failed, and the govenment was able to manage the whole affair. Sanusi displayed a lot of impunity, and what I will call ' radical' and unintelligent approah to solving the issues that happened with the banks. I never said the CEOs dont have their faults, but Sanusi should have given them time to regularise their books like he gave to other banks. Thats why, the feelings that the whole issue has political and ethnic undertone has not been diffused. To make the matter worse, virtually all the people that Sanusi brought into these banks are people who once managed failed banks in Nigeria, once sacked due to inefficiency and fraud, We all know what is going on in Union bank and spring bank now, It is a game plan, But, my concern is the majority of Nigerians that are cursing Ibru for instance, We have to be very careful, No depositor has gone to Oceanic bank and could not withdraw his money, Yes, she did something wrong, but it is not for us to curse her. At least, she employed some people, How about the politicians that have taken away all our money and did nothing to create jobs, She started Oceanic bank when nobody gave her a chance, I can only castigate her, if I am able to do something in Nigeria to ease umemployment, By the time we realise, the damage Sanusi has done to Nigerian economy, we will all cry, As far as I am concerned, a FIRST CLASS in Islamic studies does not make you a brilliant banker in today's dynamic banking industry, It is still the case of cows rulling over men, It is a big shame on all of us that men have started reasoning like cows.

Mobinga:

Go jump in a river

By SaharaReporters, New York
Mrs. Cecilia Ibru, the former managing director of Oceanic Bank PLC, is to spend six months in jail and forfeit over N150 billion Naira in assets and cash.
The former MD was convicted of bank and securities fraud and was convicted earlier today by a federal high court judge presided over by Justice Dan Abutuin Ikoyi, Lagos.
However, the judge provided what amounts to a slap on the wrist by giving her only six months jail time. The judge said Mrs. ibru will not get 1 -month credit for time already spent in EFCC custody during her arrest and interrogation. Her six months jail time would run concurrently as she was convicted on several counts of bank and security fraud.
Mrs. Ibru has vast assets throughout the world.
Cecilia Ibru Assets At Stake:
Upper Marlboro area of Maryland, United States are registered either to her son’s wife, Kemi Da silva, her son, Obaro or daughter Janet.
The Assets are:
1. 4155 Chariot Way purchased for $452,508,00 on March 12, 2009 and registered to Anita Da silva Ibru,
2. 4145 Chariot Way purchased for $440,105.00 and also registered Anita Da silva Ibru on April 14, 2009.
3. 4139 Chariot Way purchased for $451,629.00 and also registered to Edesiri Onatejerohene Ibru on April 21, 2009.
4. 4149 Chariot Way purchased for $473,657.00 and registered to Obaro and Hirut Ibru also on April 21, 2009.
5. 4141, Chariot Way purchased for $441, 790 on April 13, 2009 for herself.
6. 4143 Chariot Way Purchased for $439,362.00 on April 13, 2009 for self also.
7. 14605 Hawley Lane purchased for $3999,990.00 on July 22, 2008 and registered to her daughter, Janet Ibru,
8. 14630 Hawley Lane purchased for $ 460,703.00 May 17, 2008 and registered to Janet Ibru.
9.14721 Argos Place purchased for $457,950 and registered to Janet Ibru on October 28, 2008.
10. 14719 Argos Place purchased for $451,840.00 on November 26, 2008 and registered to Janet Ibru.
11. 11300 Dappled Grey Way purchased for $987,949.00 on October 7, 2008 and registered to herself.
Above US Properties Listing Courtesy of The Will
List of frozen assets World Wide Assets
1. Good Shepherd House, IMP Avenue , Opp Secretariat, Alausa, Ikeja, Lagos (registered in the name of Ogekpo Estate Managers)
2. Residential block with 19 apartments on 34, Bourdillon Road , Ikoyi (registered in the name of Dilivent International Limited).
3. 20 Oyinkan Abayomi Street, Victoria Island (remainder of lease or tenancy up to 2017).
4. 57 Bourdillon Road , Ikoyi.
5. 5A George Street , Ikoyi, (registered in the name of Michaelangelo Properties Limited),
6. 5B George Street , Ikoyi, (registered in the name of Michaelangelo Properties Limited).
7. 4A Iru Close, Ikoyi, (registered in the name of Michaelangelo Properties Limited).
8. 4B Iru Close, Ikoyi, (registered in the name of Michaelangelo Properties Limited).
9. 16 Glover Road , Ikoyi (registered in the name of Michaelangelo Properties Limited).
10. 35 Cooper Road , Ikoyi, (registered in the name of Michaelangelo Properties Limited).
11. Property situated at 3 Okotie-Eboh, SW Ikoyi. 12. 35B Isale Eko Avenue , Dolphin Estate, Ikoyi.
13. 38A Isale Eko Avenue , Dolphin Estate, Ikoyi (registered in the name of Meeky Enterprises Limited).
14. 38B Isale Eko Avenue , Dolphin Estate, Ikoyi (registered in the name of Aleksander Stankov).
15. Multiple storey multiple user block of flats under construction 1st Avenue , Banana Island , Ikoyi, Lagos , (with beneficial interest therein purchased from the developer Ibalex).
16. 226, Awolowo Road , Ikoyi, Lagos (registered in the name of Ogekpo Estate Managers).
17. 182, Awolowo Road , Ikoyi, Lagos , (registered in the name of Ogekpo Estate Managers)
18. 12-storey Tower on one hectare of land at Ozumba Mbadiwe Water Front, Victoria Island .
19. 5, Adeola Odeku Street, Victoria Island, Lagos (registered in the name of Casi Properties & Investment Ltd).
20. 18A, Adetokubo Ademola Street , Victoria Island, Lagos (registered in the name of Casi Properties & Investment Ltd).
21. 270, Ozumba Mbadiwe , Victoria Island, Lagos (registered in the name of Casi Properties & Investment Ltd)
22. 270, Ozumba Mbadiwe , Victoria Island, Lagos (registered in the name of Ogekpo Estate Managers Limited).
23. 15,000 square metres of land at Okunade Water Front, Lekki Peninsula .
24. 7,000 square metres of land at Okunade Water Front, Lekki Peninsula - (registered in the name of Melake Properties Limited).
25. 8,000 square metres of land at Okunade Water Front, Lekki Peninsula - (registered in the name of (Casi Properties Limited). 26. 1,000,000 square metres of land in Lekki.
27. 101 hectares of land along Lekki Expressway behind Chevron Nigeria .
28. 103 hectares of land bought from Dom Gas
29. Plot 5, Igbo-Efon, Off Lekki/Ajah Expressway, Victoria Island, Lagos by 1004 (registered in the name of Casi Properties & Investment Ltd)
30. Block 6, Flat 1 &2, Femi Okunnu H/Scheme Phase IV- Lekki (registered in the name of Oceanic Homes Savings & Loans Ltd)
31. One storey building at 50 Marina , Lagos .
32. 10 storey building at 60 Marina , Lagos .
33. 60, Marine View, Apongbon, Marina , Lagos (registered in the name of Dele Oye & Associates)
34. 10, Sobo Arobidu Street , Ikeja, GRA (registered in the name of Jeedab Fibre Limited).
35. Property at 10A Sobo Arobiodu Street , Ikeja (registered in the name of Chiaroscuro Limited).
36. AP Filling Station (Beside Former Hotel Bobby) Onipanu Lagos , (registered in the name of Vivi Oil Investments Limited).
37. Building at 154, Ikorodu Road , Lagos (registered in the name of Casi Properties & Investment Ltd).
38. Ilemba Hausa Road , Ajamgbadi, Lagos (registered in the name of Vivi Oil & Gas Company Limited).
39. Land at Iyana Ipaja Round About, Iyana Ipaja, Lagos , (registered in the name of Vivi Oil Investments Limited).
40. Building at 7, Randle Road , Apapa, Lagos , (registered in the name of Ogekpo Estate Managers Limited)
41. Block 34, Flat 6, LSDPC Housing Estate, Ebute-Metta Lagos (registered in the name of Ogekpo Estate Managers Limited)
42. Three residential towers at Port Harcourt , GRA. 43. 22 Sani Abacha Way, Port Harcourt, GRA (registered in the name of Velvox Investment Company Limited).
44. Metro Plaza Building , 991/992 Zakari Maimalari Street , Central Area, Zone 5, Abuja , (registered in the name of Abinof Food Company Limited).
45. The 4 Floor Building at Herbert Macaulay Way , Wuse Zone 6, Abuja (registered in the name of Casi Properties and Investment Ltd).
46. Metro Plaza Building, ANNEXE B, Zakariya Maimalari Street, Cadastral Zone, AOO, C.B.D, Abuja (registered in the name of MST Properties West Africa Ltd).
47. Flats 1-4, Block D33, Abuja Games Village , Abuja (registered in the name of Convent Trade & Services Limited).
48. Block D33 (Flat 1-4) Games Village , Abuja (registered in the name of Casi Properties and Investment Ltd).
49. Block B40, Flat 5 & 6, Zone 3, Gymnastic Games Village (registered in the name of Oceanic Homes Savings & Loans Limited).
50. Executive Guest House, 4 bedroom Bungalow, Ndanuba Street , Maitama, Abuja (registered in the name of Ogekpo Estate Manager Limited). 51. Executive Guest House, Ali Akilu Crescent , Asokoro, Abuja , (registered in the name of Ogekpo Estate Managers Limited). 29 Real Estate Property in Dubai 7
Residential Property: Dubai 15 Real Property: South Africa Real Property: London, England Abridged Shares In listed Nigerian Companies without limitation:
1. Access Bank Plc - (44,800,000 ordinary shares held by Prisky Gold Nigeria Limited)
2. Africa Petroleum Plc - (3,252 shares held by Prisky Gold Nigeria Ltd)
3. BGL Plc - (8,140,500 shares held by Eniofor Limited)
4. First Bank of Nigeria Plc (275,795,139 shares held through Cloudy Heights Limited, Circular Global International Limited and Bliss Bloss Integrated Services Limited).
5. Dangote Flour Plc - 8,140,500 shares held by Prisky Gold Nigeria Ltd.
6. Dangote Sugar Refinery Plc - (12,480,000 shares held by Prisky Gold Nigeria Limited).
7. Fidelity Bank Plc - (12,500 shares held by Prisky Gold Nigeria Ltd).
8. First City Monument Bank Plc - (7,142,800 shares held by Prisky Gold Nigeria Limited).
9. Glaxo SmithKline Consumer Plc - (119,740 shares held by Prisky Gold Nigeria Limited)
10. Guaranty Trust Bank Plc - (110,000 ordinary shares held by Prisky Gold Nigeria Ltd)
11. Japaul Oil Plc - (25,316,400 shares held by Prisky Gold Nigeria Limited)
12. Nestle Nigeria Plc (1,915 shares held by Prisky Gold Nigeria Limited)
13. Nigerian Bottling Company Plc - (11,383,000 shares held by Prisky Gold Nigeria Limited)
14. Oando Plc - (334,367 shares held by Prisky Gold Nigeria Limited and 13,200,000 shares held by Velvox Investment Company Limited)
15. Oceanic Bank Intercontinental Plc - (254,100 shares held by Prisky Gold Nigeria Limited and 431,201,702 shares held by Africa Lloyd Limited)
16. Oceanic Vintage Fund - (100,000,000 units held by Prisky Gold Nigeria Limited)
17. Bank PHB Plc - (93,800,100 shares held by Prisky Gold Nigeria Limited)
18. R T Briscoe - (585 shares held by Prisky Gold Nigeria Limited)
19. Total Nigeria Plc - (24,118,588 shares held by Prisky Gold Nigeria Limited)
20. Transcorp Plc - (200,000,000 shares held by Prisky Gold Nigeria Limited) 21. UAC of Nigeria Plc - (1,125, shares held by Prisky Gold Nigeria Limited)
22. UPDC Nigeria Plc - (4,029 shares held by Prisky Gold Nigeria Limited)
23. Unilever Nigeria Plc - (145,850 shares held by Prisky Gold Nigeria Limited)
24. United Bank for Africa Plc - (109,121 shares held by Prisky Gold Nigeria Limited)
25. Union Bank of Nigeria Plc - (13,300,000 shares held by Prisky Gold Nigeria Limited)
26. Vitafoam Nigeria Plc - (1,197 shares held by Prisky Gold Nigeria Limited)
27. Lafarge Cement Wapco Nigeria Plc (23,142 shares held by Prisky Gold Nigeria Limited).
28. Zenith Bank Plc - (10,280,000 shares held by Prisky Gold Nigeria Limited)
29. Oceanic Bank Plc - (2,323,841,722 shares held by Arata Nigeria Limited)
30. Oceanic Bank Plc - (1,631,250,000 shares held by Meeky Ent. Ltd) 31. Oceanic Bank Plc - (1,012,500,000 shares held by Mas Mackoy Ltd)
32. Oceanic Bank Plc - (431, 202,702 shares held by Africa Lloyd Limited)
33. Oceanic Bank Plc - (345,833,332 shares held by Ibru C.A. .O)
34. Oceanic Bank Plc - (142,282,300 shares held by Casi Properties and Investment). 35. Oceanic Bank Plc - (98,993,775 shares held by Zatlins Ventures Limited A/c 385359)
36. Oceanic Bank Plc - ( 94,159,575 shares held by Comvet Trades & Services Ltd)
37. Oceanic Bank Plc - ( 52,078,175 shares held by Mac-Mackoy Limited)
38. Oceanic Bank Plc - ( 44,000,000 shares held by Oceanic SSITF)
39. Oceanic Bank Plc - (30,758,500 shares held by Dilivent International Limited)
40. Oceanic Bank Plc - (25,000,000 shares held by Cecilia Ibru)
41. Oceanic Bank Plc - ( 18,440,990 shares held by BFCL Investment A/C)
42. Oceanic Bank Plc - ( 12,212,500 shares held by Ogekpo Industries Ltd)
43. Oceanic Bank Plc - ( 12,121,225 shares held by Zatlins Ventures Ltd, A/C 148068)
44. Oceanic Bank Plc - ( 10,000,000 shares held by Micheal Cecilia Educational Foundation).
45. Oceanic Bank Plc - ( 4,955,625 shares held by Ogekpo Estates Limited)
46. Oceanic Bank Plc - (1,250,000 shares held by Ibafon Oil Ltd).
47. Oceanic Bank Plc - ( 292,775 shares held by Melake Enterprises Ltd).
48. Oceanic Bank Plc - ( 292,775 shares held by Melake Properties Ltd).
49. Oceanic Bank Plc - ( 292,775 shares held by Melake Technologies Ltd).
50. Oceanic Bank Plc - ( 78,993,750 shares held by Spanord Investment Co. Ltd).
51. Oceanic Bank Plc - ( 77,500,000 shares held by Aggregated Property Limited).
52. Oceanic Bank Plc - (77,500,000 shares held by Quartz Property Company).
53. Oceanic Bank Plc - 73,500,000 shares held by Arnott & Callman Investment).
Cars, and personal assets at 20 Oyinkan Abayomi Street , Victoria Island
Two aircrafts worth $100 million

I really think she qualifies to go to jail.

TEARS OF A MASTER – STRATEGIST; THE RELIEF OF ABIANS
As a school boy and a cob journalist – on training, we were often told to recite the popular saying that “in” journalism, some truths must not be told”. This aphorism soon became contradictory, senseless and self – serving when we came across a more populist one that told us, at all times and in all situations, you must serve the public good and say the truth without minding whose ox is gored”. I have decided to draw the distinctions above to find justification for the revelations in my own estimation and in pursuit of the universal principle of upholding the truth would definitely serve the public interest, especially Abians who had been hoodwinked for several years into believing that the strategist means well for them.

I have gone through the book, “the master strategist” and came to the utter conclusion that he the gods want to kill, they first of all make deaf. Otherwise, the book is a recitation of evil strategist of one man who took glory in regarding iniquities in his heart. Otherwise, Abians would have known that a man who prides himself as having his way even with criminals should not have been trusted with their collective wealth in the first instance. OUK, recollected how in one of his cheap – popularity seeking ventures at Eyimba Stadium; a known criminal at the Columbia stand (spot for criminals and miscreant that do drugs and narcotic at Enyimba stadium). He called the boy with strong instruction for him to return a friends missing car the next day. True to the bandits boast to his collogues that big boss says the car must be returned tomorrow, OUK’s fried vehicle was found. This is an account that he proudly relayed in print, if only to justify his mastery of criminals and criminal tendencies. It was the same primary and aggregated thievery that he applied and for well over ten years, held Abians spell bound, applied white wash kind of administration were what you see is what you get; worked in concert with his ageless mother and siblings to loot Abia red. He continued funding these boys through Akomas connection as a deputy governor that was paying her mother N30m (Thirty million naira every month) for him to be used as replacement to T.A Orji after eight year record as a governor. Akomas when he was his commissioner was arraigned in umuahia high courth for gun running. Today his boys are everywhere doing kidnapping and armed robbery.

We would be bothering Abians with facts already known if we repeat that the smokescreen he called successes in Abia have since fizzled out. Thanks to the truth. It is like a calabash gourd dipped inside water. No matter how hard you try to suppress, it must resurface. The truth resurfaced recently at a gathering in Igbere, were OUK himself decried how his empire has crumbled. He almost narrowed his blame to his younger brother. Hon. Nnanna Uzor Kalu; a member of the House of Representative who OUK foisted on Abians in place of an articulate, God – fearing and better candidate Chief Mrs. Blessing Nwagba. According to OUK, Nnanna is probably why all he has labored (?) for years have crumbled like a pack of cards within days.

Many, I am sure did not know that OUK has a younger brother who is representing Aba North/Aba south Federal constituency at the National Assembly, the House of Representatives to be precise. Nnanna is basically a sitting duck and Chairman committee on the deaf and dumb. He was awarded this flowery title because of all the years he has spent in the National Assembly, he had neither originated nor contributed to one single bill. Nnanna simply collects sleeping allowance from the National Assembly as each time tv camera captures him, he would be seen sleeping. Reason? He is OUK’s greatest mistake and a great minus to the so called political dynasty.

However, what Nnanna lost in quality representation, he gained in representing his family in the quest to control virtually everything in Abia. As soon as OUK left the stage as Governor of Abia State, Nnanna became his inward looking eye with which he sought to maneuver Abians and their resources. Nnanna would hardly stay in the National Assembly as he runs to Abia every other week to supervise his family’s personal business which Abia State was.
To tell you the senseless and poor reasoning of the Uzor Kalus, they had an unwritten agreement that Abia State would be shared amongst the three major players in the family, OUK, Nanna and their power drunk mother Odiukonamba. They however failed to realize that evil triumphs for a while. It never occurred to them that in no distant time, that Abians would see them as Egyptians who would go into irredeemable oblivion at God’s time.

Let us go back to the Igbere stakeholders meeting. While OUK rued the loss of Abia State and why he tried to sacrifice Nanna may be for scuttling his chances of holding on with Ochendo, a thought flashed in mind. When Gov. Ikedi Ohakim of Imo state concluded plans to dump OUK’s PPA for PDP, there were speculations that OUK would retire Ohakim prematurely in politics. He was touted to have mapped out enduring formulae to ensure that Ohakim pays dearly for dumping him preference of the ruling PDP. Two years on, Ohakim is still calling the shots at Imo while he saves a whooping Seventy Million Naira Monthly (70,000.000) which was what was giving to OUK monthly from the state coffers. So, OUK was not attacking Ohakim based on ideological shift or strict principles. He was mourning the loss of millions which Ohakim PPA Governorship guaranteed him in Imo. Otherwise, OUK had no business with the welfare of Imolites and would not care a hoot if they were impoverished or not. The same scenario has played out in Abia. If he blames Nnanna for loosing Abia, who would he blame for loosing Imo? God simply at work. By his word, we know that he that keepeth Israel neither sleeps nor slumbers. Abians and Imolites are called by His name and He is faithful and just to retrieve them from the shackles of wickedness. Come with me; let me lead you into the untold story of how OUK and his family planned to hold Abians hostage for at least fifty years. Let me tell us briefly why OUK may suffer eternal hurt. T.A Orji did not look him like a personality who would one day take the path of honor to denounce his family’s strategies of annihilation. Hate, looting and dehumanization of Abians. Ochendo painstakingly followed them to a logical conclusion as though he knew their evil machinations. He waited patiently for them to have a change of heart and honor the social contract they had with Abians. T.A Orji played along for over three years, believing that when you wait upon Gods time, your strength shall be renewed. If you think what he did by denouncing OUK and his team of cannibalists was all about second – term, then you do not know the Abia story. God simply used him to halt a programme designed to leave Abians in eternal penury and advance the cause of one family that accumulate too much for one man to handle during his generation. God used T.A to obstruct a life – time programme of recklessness; designed to strip Abians of their collective heritage and used to finance an imaginary political dynasty to the advantage of one family.

While T.A waited upon the lord, OUK depended on Abian’s lean and embarrassingly meager resources to service his business empire. Even with the global economic meltdown, OUK chains of businesses thrived and did not bother to cut their staff or other budgets because at the end of every month, he received One Hundred and Twenty Million naira (120,000.000) from Abia State government. It was a standing order and did not need monthly approvals. If you are wondering what somebody would be doing with that huge amount when majority of Abians lacked basic amenities, I tell you.

Orji’s Camp Neya mansion at Igbere, his country home has a total of seventy (70) administrative and domestic staff. There are at least thirty – six (36) suites representing the 36 states of the Federation. In the camp, you will also find presidential Suites designed to taste for all former Head of States of Nigeria. This is in addition to a world class golf club, lawn tennis court, swimming pool and a


Conference room. Recall that he had nonce tried and failed to host a CAF meeting in his conference Hall. This is to tell you the quality of facilities in that camp built with stolen funds. That huge edifice needs so much money to remain alive. Again, Orji needs money to revive his ailing businesses and service the non-performing one billion naira loan he collected from Access bank, so that if there is anything like meltdown, it will be felt in Abia; the state that was under his siege and that of his family members.
OUK was not satisfied with the millions he receive monthly. He made sure too that he had a majority take in the decision of who were going to be commissioners and local Government Chairmen. While he shared proceeds from Commissioners with Nnenna, their mother pocketed majority stake in allowance to seventeen Local Government areas in Abia State. It was therefore painful to observe that his family did not spare any single source of revenue in Abia. They were everywhere, from board membership to the highest post in the state. If you want to have an idea of what I am saying, go check out any person that serves as a Commissioner or Local Government Chairman in Abia between 1999 and April 2010, you will see poverty in action. In recent times, people had criticized the amount of money politicians take at the detriment of development needs. Not in Abia, they do not take home nothing, they account to one family such that neither the state nor the appointee or elected person goes home with anything. It was that bad.
If any one of them was lucky to have braved the situation and made a little more than they programmed for him, the fellow pays dearly for it. Their mother, who is the sole giver of power then, would lure him into contesting a juicy elective position. That would be your end because they had only one motive which is to strip you of your resources and bring you back to your knees, so that you will serve them and take an oath of perpetual allegiance.
While the party lasted, Nnanna carried on like the crown prince of the Wales. He did not hide disrespect for the sitting Governor. May be because the Commissioners and Local Government Chairmen were his family’s making, he carried on with them in so much a reckless manner. Severally in state functions, he walked in with over seven key Commissioners to the utmost charging of the Governor and other guests seated. He was able to breach protocols because apart from thinking the state belonged to them, T.A. Orji was overbearingly tolerant. His tolerance paid off. Abians had the last laugh. Today owing to the ingenuity of T.A. Orji, Nnenna and his co- conspirators that held Abians spell bound have returned to where they belong – oblivion.
Not just Nnanna, their mother was a big torn in the flesh of the state. Here was a woman whose personal security compete or even out – numbered that of the sitting Governor. She moves around the state with the longest convoy and still had enough to take his two adopted daughters to school. If you see the long security guards and convoy that convey two seven years old to school, you will weep for Abia. She was untouchable and humiliated the small and the mighty. I have always had a heart of forgiven this woman for her age and most level of education. I say this because her style smacks of absolute ignorance and bereft of sound moral etiquettes. I understand she did not go to even primary school

Here was a woman who made other women to abandon their husbands and family members to pay obeisance to her. The only thing these women would have to show for their long years of enslavement is the number of songs they composed in her name. Her house was the Government House, while that at umuahia where the sitting Governor, was simply an annex. Local Government Chairmen ran to her after joint Allocation Committee (JAC) meetings. She milked them dry and singularly strangulated development in these council. Today, Abians are free. They would be assured that even in the smallest measure, local governments will start to cater for their needs. If there is nothing, Abians would soon begin to see the dividends of what Ochendo would have saved for the state after denouncing them. We shall also wait to see in coming weeks and months, how far the dynasty would go bearing in mind that the two states from where they fathered their nests have broken lose.
Ohakim started it in Imo, Ochendo followed suit. In the larger political arena, the Uzor- Kalu led by their strategist son and brother is fast losing weight. It will not be long before Nigerians; especially Abians will begin to appreciate why the strategist, feels hurt and is looking for whom to blame from his many woes. Don’t forget, the Masi death is still hanging on his neck like the sword of Damocles. There are strong indication too that his links with IBB may eventually be connected to the twin Oct 1 bomb blasts in Abuja. While we wait, Abians should roll the carpets for quality celebration because the battle is over.

Mr. Martinosi, if your claims are true then are you not an accomplice to criminal activities. Watch your words very, very carefully. The next stage we want to believe will be those who offer services to these fellows.

his public outburst are undesirable.

Not only the sacked bank chiefs. Prof C. Soludo must go to jail as well, so should all the pastors in the various churches encouraging these idiots to be stealing money. I remember clearly that Arthur Anderson went down for various nondisclosures relating to the former Enron Corp. Please what has happened to the various rouge accounting firms that certifies the books of these banks? Many people must surely be jailed, MUST!!!

@martinosi, you are an ignorant fool. People like you should lock urselves in doldrums of irrelevance where u rightly belong. You keep repeating Canary Wharf to tell us what? That you are a night security officer (not even SIA qualified) at Canary Wharf ba? If real bankers should come out to talk you will also line up ur dirty ass to join them. mumu!!!

Ibru's light conviction was just to test the waters; Akingbola, for daring to run away - a sign of being guilty as charged - and now trying to play holier than thou, will certainly get a longer jail term. Wanna bet?

of course the next CBN chief will bring down everything sanusi left in CBN. Thats if he leaves
anything in the vaults. We love pulliing down people, what goes around comes around. Sanusi will face a probe one day.

how could Cecilia Ibru be so rapacious? so greedy,

Sanusi should shut up, face his banking job & let the courts do their work. . .Haba!

He cannot be the accuser and the Judge at the same time.

MR SUPPORTER OF ORJI,HW MUCH DID HE PAY YOU.STOP USING GOD NAME TO NARRATE SUCH USELESS STORIES IN ABIA,YOU ARE ALL CURSED IN ABIA.

@bankyland:thank u, unfortunalety most nigerians r ignorance of sanusi schemes.all d bank chief r guilty of d same charges including d sanusi wen e was in first bank.today is CECELIA definately sanusi's own book will b open somday.

Sanusi is now d jury ,d judge and d judiciary plus cbn govnor.
Maybe he recommended 6months jail term and a forfeiture of a paltry 150billion out of all the loots
listed above.

Why do we have jail terms of 25yrs and life sentence for small theft while big men/women spend just 6months in cosy prisons?

semid4lyfe:

Sanusi should shut up, face his banking job & let the courts do their work. . .Haba!

He cannot be the accuser and the Judge at the same time. 

The real case against those bank MDs was not that they did what was wrong but that they got too rich. Sanusi was using his own money to chase women while his mates were buying up Nigeria. The highest thing he should have done was to ask them to pay up their loan like every other person. Bad belle politics.

Why commend the minister of Justice? Who will not steal say N4billion if he or she is going to bag 6months jail term?
The import of my view is the jail term is not proportional with the amount of money stolen.
Who are those LIFE JAIL TERM is reserved for? Please the minister of Justice should tell nigerians how much bribe he collected from Ibru family for showing that magnitude of MERCY!

Ooooooooooooooooooooooooohhhhhhhhhhhhhhhhhhhhhh my Gooooooooooooooooooooooooooooooooooooooooooooooooooooooooodddddddddddddddd!

That woman is freaking loaded! Is that how these guys all are? ye!