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Two Ex-governors, 103 Others In Trouble Over N5tr Debts - Politics - Nairaland

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8 Ex-governors Whose Over N500bn Corruption Cases With EFCC Have Been Buried / Tinubu Reacts To Sanwo-Olu's Move To Cancel Pension For Ex Governors & Deputies / 15 Corruption Case Files Missing, 103 Others Stuck In Malami’s Office (2) (3) (4)

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Two Ex-governors, 103 Others In Trouble Over N5tr Debts by Islie: 11:16am On Jul 31, 2019
by Yusuf Alli





A new battle plan to recover N5trillion debts has been drawn up, it was learnt yesterday.
A task force, which will recover the Asset Management Corporation of Nigeria (AMCON) debts has been raised by the Federal Government.

Some 105 businessmen and companies are owing the toxic debts.

Twenty individuals and firms account for N3.35trillion (67 %) of the N5trillion debts.
The debtors may lose their assets, unless they pay up.

It was learnt that the government may invoke against the debtors the Interim Forfeiture Clause in the Economic and Financial Crimes Commission (EFCC) Establishment Act 2004 and the Independent Corrupt Practices and Other Related Offences Commission (2000) Act.

The decision to raise a task force was taken at a closed-door meeting between Vice President Yemi Osinbajo and some heads of anti-graft agencies.

At the meeting were EFCC Acting Chairman Ibrahim Magu; ICPC Chairman Bolaji Owasanoye; NFIU Director/Chief Executive Modibbo Tukur; Federal Ministry of Transportation Permanent Secretary Sabiu Zakari and other senior government officials.

Although a statement by the Senior Special Assistant to the President on Media and Publicity (Office of the Vice President), Mr. Laolu Akande, was silent on the list of the debtors, The Nation unmasked them.

A breakdown of the list of debtors includes a senator, a former senator, a former deputy speaker of the House of Representatives, a former secretary to the government of the Federation (SGF); two former governors, including one serving a jail term, a former Minister of Power and nine others.

There are also two former Managing Directors of distressed banks; a newspaper publisher, a Senior Advocate of Nigeria (SAN) and a former powerful associate of an ex-President
A source at the meeting said: “The task force, including anti-graft agencies, will move in immediately to recover the debts.

They have been mandated to invoke the Interim Assets Forfeiture Clause where necessary.
“Of the 105 debtors, 20, comprising businessmen and companies, owe N3.350trillion. This is about 67 per cent.

“We can no longer allow these debtors to hold the nation to ransom. Some of them are hiding under the law to refuse to pay their debts. Recent profiling of these debtors shows that some of them have the wherewithal to offset their outstanding loans.”

A statement by the Senior Special Assistant to the President on Media and Publicity (Office of the Vice President), Mr. Laolu Akande, said: “In a renewed and spirited effort to ensure the effective recovery of over N5 Trillion being outstanding debts owed the Asset Management Corporation of Nigeria (AMCON), a new task force has been set up to get the job done without fail.

”Vice President Yemi Osinbajo, gave the indication during a meeting with board members and management of AMCON and selected heads of government agencies, at the Presidential Villa, Abuja on Monday evening.

”Those agencies include the Economic and Financial Crimes Commission (EFCC), the Nigerian Financial Intelligence Unit (NFIU), the Independent Corrupt Practices Commission (ICPC) and also the Permanent Secretaries of the Justice and Transport Ministries.

”To this effect, a special task force/committee comprising the Heads of AMCON, the Economic and Financial Crimes Commission (EFCC), the Nigerian Financial Intelligence Unit (NFIU), the Independent Corrupt Practices Commission (ICPC) and the Ministry of Justice, will be working to develop and implement new strategies that will ensure that the determination of the FG to recover the money is speedily achieved.

”Osinbajo said all the relevant agencies have to re-strategise to achieve the desired results.
”The key is collaboration. We need a small team comprising these agencies to look at the next steps that we need to take, especially the criminal aspect, forfeiture, and all of that,” Osinbajo added.

The statement said the Vice President asked the task force should look at the top 20 AMCON defaulters closely and develop “a plan of action that brings results”.

Osinbajo had in May met with the AMCON management on how to resolve the debt crisis.
According to AMCON Chairman Muiz Banire almost 67 per cent of the outstanding N5tn debt is owed by just 20 individuals/entities.

Banire noted that the agency had been “trying its best in its attempt to recover this through the civil judicial process, but had encountered several challenges”.


https://thenationonlineng.net/two-ex-governors-103-others-in-trouble-over-n5tr-debts/

5 Likes

Re: Two Ex-governors, 103 Others In Trouble Over N5tr Debts by SLAP44: 11:21am On Jul 31, 2019
Which ex governors?

The money this current FG has borrowed is so heavy it can sink Victoria Island grin

25 Likes

Re: Two Ex-governors, 103 Others In Trouble Over N5tr Debts by inoki247: 11:22am On Jul 31, 2019
Go nd recover d money mayb Dollar will equal 1 naira abi petrol will sell for 50naira or we go get 247light... I know say na moni to reloot allna dey look for..

6 Likes 2 Shares

Re: Two Ex-governors, 103 Others In Trouble Over N5tr Debts by HappyPagan: 11:27am On Jul 31, 2019
SLAP44:
Which ex governors?

The money this current FG has borrowed is enough to sink Victoria Island grin
How much is it?

1 Like

Re: Two Ex-governors, 103 Others In Trouble Over N5tr Debts by Holumhidey(m): 11:50am On Jul 31, 2019
we should just execute jubril......

4 Likes 1 Share

Re: Two Ex-governors, 103 Others In Trouble Over N5tr Debts by Gandollar(f): 11:53am On Jul 31, 2019
After recovering the money they will reloot them and then go back to China to borrow billions. Ndi ara!

13 Likes

Re: Two Ex-governors, 103 Others In Trouble Over N5tr Debts by Sunofgod(m): 1:04pm On Jul 31, 2019
Ok

1 Like

Re: Two Ex-governors, 103 Others In Trouble Over N5tr Debts by exstreve: 1:04pm On Jul 31, 2019
Let's see what saint bubu will do
Re: Two Ex-governors, 103 Others In Trouble Over N5tr Debts by GARRIYELLOW: 1:05pm On Jul 31, 2019
If Okorocha is not on that list, then it's not complete. grin
Re: Two Ex-governors, 103 Others In Trouble Over N5tr Debts by StupidVoters: 1:05pm On Jul 31, 2019
Why are you suprised? : Ministership slot was sold Up to N2.5b Per Slot.


Read below

I declined to comment on the ministerial list Buhari sent to the Senate for two reasons: I was deeply distraught by what I heard about the process that produced it and I wanted to confirm the info from trustworthy people who should know.

Four different, dependable, and independent sources who don’t know each other but who’re close two the corridors of power were eerily united in telling me that except for a few ministerial nominations (notably those of Adamu Adamu, Ali Isa Pantami, Mohammed Musa Bello, Raji Fashola whom Buhari himself personally penciled— and those that were conceded to Tinubu) every other post was literally auctioned off to the highest bidder.

One Jeddy Agba from Cross River State, a Diezani protégé who defected to APC to avoid EFCC scrutiny, was said to have given Abba Kyari up to N2.5 billion for his nomination. I was told that, at a point, the incredibly rapacious Abba Kyari, in fact, removed Musa Bello’s name from the list and sold the spot to someone else. Buhari somehow found out and recalled the list. Bello is the son of Buhari’s very close friend. That was what inspired his saying that he’d only appoint people he “personally” knew. Of course, as usual, he lied.

If people are required to pay hundreds of millions of naira as a precondition to be appointed ministers, it means they’re being invited to a corruption bazaar. They’ll have to raid and pillage the national treasury to recoup their “investment.” My sources said Buhari knows that Abba Kyari and his boss, Mamman Daura, auctioned off ministerial slots to the highest bidders, and he is at peace with it. This didn’t surprise me because Buhari is himself an unmitigated but carefully managed fraud.

Nevertheless, Nigeria had never descended to this low watermark of shamelessly undisguised fraud. One of my sources said, “The rottenness is unprecedented and no society or country can survive this level of fraud, crime, and sleaze.” This confirms what I’ve always said: that Nigeria can’t survive a Buhari second term. There’s no way it can.

Apart from intractable insecurity and mass deaths, Buhari’s second term is also shaping up to be an unprecedentedly raucous celebration of corruption, injustice, depravity, and debauchery. It’s going to get ugly, really ugly. Get ready!

Farooq Kperogi PhD.

7 Likes 2 Shares

Re: Two Ex-governors, 103 Others In Trouble Over N5tr Debts by Sunofgod(m): 1:05pm On Jul 31, 2019
Usual
Re: Two Ex-governors, 103 Others In Trouble Over N5tr Debts by anyimontana(m): 1:05pm On Jul 31, 2019
I wish T.A orji of abia will be among..dudes so greedy

1 Like

Re: Two Ex-governors, 103 Others In Trouble Over N5tr Debts by ewosk: 1:06pm On Jul 31, 2019
sadNo
Re: Two Ex-governors, 103 Others In Trouble Over N5tr Debts by Holocene(m): 1:07pm On Jul 31, 2019
Lol

The truth is that we don't have the intellectual capacity to empathize with our fellow citizens.
Till we start to hold our leaders accountable for their actions, then we will know no concrete development.

A nation where all the ex governors are now ministers and senators is just stupid.

1 Like

Re: Two Ex-governors, 103 Others In Trouble Over N5tr Debts by ednut1(m): 1:07pm On Jul 31, 2019
Many are private jet owners

1 Like 1 Share

Re: Two Ex-governors, 103 Others In Trouble Over N5tr Debts by showafrica(m): 1:08pm On Jul 31, 2019
Doomed country
Re: Two Ex-governors, 103 Others In Trouble Over N5tr Debts by Somatic(m): 1:08pm On Jul 31, 2019
Decoders, oya over to you.
Re: Two Ex-governors, 103 Others In Trouble Over N5tr Debts by anibi9674: 1:10pm On Jul 31, 2019
How the country won take better.
Re: Two Ex-governors, 103 Others In Trouble Over N5tr Debts by Nobody: 1:10pm On Jul 31, 2019
SLAP44:
Which ex governors?

The money this current FG has borrowed is so heavy it can sink Victoria Island grin
WHAT HAS THAT GOT TO DO WITH RECOVERING OF DEBT OWED BY THE SAME PEOPLE THAT ARE SHOUTING THAT THE GOVERNMENT IS BORROWING IS TOO HEAVY.WHAT A CONTRADICTION.

5 Likes 1 Share

Re: Two Ex-governors, 103 Others In Trouble Over N5tr Debts by RDPMAN: 1:11pm On Jul 31, 2019
Ops shocked
Re: Two Ex-governors, 103 Others In Trouble Over N5tr Debts by princeade86(m): 1:12pm On Jul 31, 2019
which trouble. every day, na trouble trouble,yet, nothing to show for it.

1 Like

Re: Two Ex-governors, 103 Others In Trouble Over N5tr Debts by RDPMAN: 1:12pm On Jul 31, 2019
Re: Two Ex-governors, 103 Others In Trouble Over N5tr Debts by Lexusgs430: 1:15pm On Jul 31, 2019
Accountability is paramount.........
Re: Two Ex-governors, 103 Others In Trouble Over N5tr Debts by nabegibeg: 1:15pm On Jul 31, 2019
Islie:








https://thenationonlineng.net/two-ex-governors-103-others-in-trouble-over-n5tr-debts/




The Nation unmasked them.


Yet no names were mention.


Stay one side jare

2 Likes

Re: Two Ex-governors, 103 Others In Trouble Over N5tr Debts by Kinzzybubu: 1:16pm On Jul 31, 2019
SLAP44:
Which ex governors?

The money this current FG has borrowed is so heavy it can sink Victoria Island grin
Re: Two Ex-governors, 103 Others In Trouble Over N5tr Debts by soberdrunk(m): 1:17pm On Jul 31, 2019
StupidVoters:
Why are you suprised? : Ministership slot was sold Up to N2.5b Per Slot.


Read below

I declined to comment on the ministerial list Buhari sent to the Senate for two reasons: I was deeply distraught by what I heard about the process that produced it and I wanted to confirm the info from trustworthy people who should know.

Four different, dependable, and independent sources who don’t know each other but who’re close two the corridors of power were eerily united in telling me that except for a few ministerial nominations (notably those of Adamu Adamu, Ali Isa Pantami, Mohammed Musa Bello, Raji Fashola whom Buhari himself personally penciled— and those that were conceded to Tinubu) every other post was literally auctioned off to the highest bidder.

One Jeddy Agba from Cross River State, a Diezani protégé who defected to APC to avoid EFCC scrutiny, was said to have given Abba Kyari up to N2.5 billion for his nomination. I was told that, at a point, the incredibly rapacious Abba Kyari, in fact, removed Musa Bello’s name from the list and sold the spot to someone else. Buhari somehow found out and recalled the list. Bello is the son of Buhari’s very close friend. That was what inspired his saying that he’d only appoint people he “personally” knew. Of course, as usual, he lied.

If people are required to pay hundreds of millions of naira as a precondition to be appointed ministers, it means they’re being invited to a corruption bazaar. They’ll have to raid and pillage the national treasury to recoup their “investment.” My sources said Buhari knows that Abba Kyari and his boss, Mamman Daura, auctioned off ministerial slots to the highest bidders, and he is at peace with it. This didn’t surprise me because Buhari is himself an unmitigated but carefully managed fraud.

Nevertheless, Nigeria had never descended to this low watermark of shamelessly undisguised fraud. One of my sources said, “The rottenness is unprecedented and no society or country can survive this level of fraud, crime, and sleaze.” This confirms what I’ve always said: that Nigeria can’t survive a Buhari second term. There’s no way it can.

Apart from intractable insecurity and mass deaths, Buhari’s second term is also shaping up to be an unprecedentedly raucous celebration of corruption, injustice, depravity, and debauchery. It’s going to get ugly, really ugly. Get ready!

Farooq Kperogi PhD.



You people will just be carrying fake news, how can they sell ministerial slot for "2.5 billion", make una small small dey lie....... angry

6 Likes 1 Share

Re: Two Ex-governors, 103 Others In Trouble Over N5tr Debts by everbliss: 1:18pm On Jul 31, 2019
GARRIYELLOW:
If Okorocha is not on that list, then it's not complete. grin
Okorocha kill you there.
Re: Two Ex-governors, 103 Others In Trouble Over N5tr Debts by dman4mdmoon(m): 1:19pm On Jul 31, 2019
I can bet anything, Wale Babalakin (SAN) and Jimoh Ibrahim names go dey the list.
Re: Two Ex-governors, 103 Others In Trouble Over N5tr Debts by Born2Breed(f): 1:19pm On Jul 31, 2019
We need the list...
Re: Two Ex-governors, 103 Others In Trouble Over N5tr Debts by Champneys: 1:20pm On Jul 31, 2019
They are running helter skelter to find money on the home now that China and others are not doling out easy loans again

Useless lot..... Folks who cant generate enough revenue to cover expenditure or recover looted funds without propaganda...

Let's see how they win the war against the AMCON debtors!
Re: Two Ex-governors, 103 Others In Trouble Over N5tr Debts by DameB(f): 1:21pm On Jul 31, 2019
Will their assets generate the money to cover the toxic debt?
Re: Two Ex-governors, 103 Others In Trouble Over N5tr Debts by SuperS1Panther: 1:23pm On Jul 31, 2019
20 people are owing 2/3rd of Nigeria's budget!!!!!

3 Likes 1 Share

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