God - is there no limit to this disease. If corruption where a cause of blindness 99% of Nigerian government officials would be blind - permanently!!!

…How in fighting forced board to return N90 Billion as unspent, while Delta Suffers
   
Air Vice Marshal Larry Koinyan, Chairman, NDDC Board Mr. Chibuzor Ugwuoha, MD/CEO, NDDC Pastor Power Aginighan

Pointblanknews.com is in possession of forged documents used by the suspended Managing Director of the Niger Delta Development Commission (NDDC), Chibuzor Ugwoha, to illegally transfer $20 million (N3 Billion), from the commission’s offshore account in Union Bank (UK) Ltd, to First Bank (UK) Ltd . The accounts was secretly opened by him and two directors.

The trio of Ugwoha, Director of Legal Services, Harrison Onwon, and the Acting Director, Finance and Supply, Egbejule Jimoh Oma, were recently suspended for their roles in the illicit opening of the First Bank account and transfer of N3 Billion under shady circumstances. A balance of $50 Million was however left in the Union Bank account.

It was also learnt that of the N128 Billion received by NDDC in 2009, over N90 Billion was returned to the Federal Government coffers as “unspent”, when the top shots could not reach an agreement as how to share the cash into private and dodgy accounts. While they fought over sharing and which private accounts NDDC cash should be lodged, the region and its people suffered. Our source hinted that until the trio was fired, close to N110 could have been returned due to in fighting.

Desperate to move the whooping sum, the MD coerced the Director Legal services into signing the mandate sent to First Bank at Finsbury Circus in London. The MD also forged a Board resolution dated September 15, 2010, even though the last board meeting was in July 2010, before the latest one held between November 24 and 25. According to the Director Legal services, his signature on the resolution was forged , while he was forced by the MD to sign the mandate sent to First Bank in London.

The mandate falsely claimed that the MD and Egbejule Jimoh Oma were the new signatories, aware of the fact that the Executive Director, Finance and Supply, Power Ziakede Aginighan, who is a regular signatory, was away on sick leave.

When the dirt hit the fan, the Presidency summoned chairman, AVM Larry Koinyan( Rtd), to explain his negligence, and how Ugwoha could carry out such illegal act without his knowledge. It was learnt that President Goodluck Jonathan was so upset that he refused audience with Koinyan.

The Board sent a report to the office of the Secretary to Government, Ahmed Yayale, where the MD is well connected. He tried to kill the report but failed. He was eventually suspended because President Goodluck Jonathan was already aware.

http://pointblanknews.com/News/os4262.html

This trick has been used for too long to funnel oil money into strange accounts and then skim off the interest into personal accounts. Buhari did it with $2.8billion in the 80's, Ugwuoha is doing it with a bit less in 2010. It is a real shame.

When the dirt hit the fan, the Presidency summoned chairman, AVM Larry Koinyan( Rtd), to explain his negligence, and how Ugwoha could carry out such illegal act without his knowledge. It was learnt that President Goodluck Jonathan was so upset that he refused audience with Koinyan.

The Board sent a report to the office of the Secretary to Government, Ahmed Yayale, where the MD is well connected. He tried to kill the report but failed. He was eventually suspended because President Goodluck Jonathan was already aware.

This is one reason why GEJ continues to lose supporters, but as a nation we must not play ourselves into the hand of those who dont wish us well.

Corruption is a monstrous evil, we all need to unite to fight it.

Challenging corruption head on would be like attempting to break coconut with your head, the best that can result from it is that you would not be there to benefit from ur bravery if at all the bravery yields anything, we can ask Ribadu and Buhari.