techmo:


I still maintain it that the biggest fool is anyone who believes broke Nigeria has any spare 2.5bn USD or 1 trillion naira to loot when we can't even budget without heavy borrowing, while FAAC shares a paltry 500bn naira among 36 state and 700+ Local Government

darleenje:


There is no spare money anywhere brother. The young man said the money is a gift. Which I believe is true. If that is true then it was accumulated over a period of time.

My problem is hear that Nigeria doesn't have that kind of money. We have more than that but it's in private purses not in one place.

That is the same way Goodluck wife accumulated hers and we all called her a thief.

salbis:
The BMC should come and defend the action of their demigod from the lineage of saint Buhari oo.
The magnitude of corruption within the circle of Buhari and his co-travellers is legendary.

techmo:



I just tried to make it open Nigeria's broke condition, the money in his account were obviously gifts as he doesn't approve contracts or have anything budgeted to his office except his allowance

However if someone like Tinubu or Dangote badly needs a meeting with Buhari such people can forward millions to him just to make that happen, or for him to push files on Buhari's desk

So I believe it's all gift but the 1trillion is impossible

techmo:




If you believe anyone can loot 1trillion naira from a poor country like Nigeria, then you are a fool


The whole of Nigerian customs sef struggle to make 3 trillion

The whole of NASS senate + house of reps (107 + 360) budget ₦150billion per year Shuab would now get 1trillion


.

You know nothing bro. Do you know how much federal government makes from ordinary Value Added Tax alone? Bro! Carry chair and sit down bro.

ivandragon:
When the corruption story of this administration is written, it would make all previous military & civilian looters look like amateurs...

One area investigative journalists need to look at is that 'land with unknown location' in PH which was declared in 2015.

Since the man has been at the helm of affairs for the last 5 years, can he say he still doesn't know where the land is located?

That land that was so causally declared in 2015 has more to it that meets the eye... After all, an unexplored oil block is also land...

Just saying...

aolawale025:
This is serious. Are the authorities aware?

MansoryMX:


You know nothing bro. Do you know how much federal government makes from ordinary Value Added Tax alone? Bro! Carry chair and sit down bro.

ethicallyright:


Understand economics first.
If government tax bank accounts through stamp duties and importers at the seaports, the money generated by the government is in naira because the payments are made in naira.

For Nigeria to have dollars it must come from the US, through exports to other countries, loans, or grants from international financial institutions like the IMF.

If you steal 500trillion naira and the dollars available for exchange in Nigeria is just 25billion dollars your 500 trillion nairas will remain in Nigeria and cause inflation. For the 500 trillion nairas to be useful in any other country, you must change it to dollars, and changing such amount to stack abroad will eat up the available dollars in circulation.

Nigeria's source of dollars is petroleum that's why Buhari is the petroleum minister.

techmo

Truflame:
The tears of a broken dream

Evil is gaining momentum everyday. It spreads across the land like tree branches.

No one is free from the grip rof darkness. Minutes and hourly, it keeps evolving wicked strategy to keep people within it fetters.

Ambition has been destroyed in the dark. Youth are now left at the mercy of whatever threatens them.

Political rhetorics and promises has remain unfulfilled. On list of priority is equal chances for the youth. Today, the sad reality is leadership failure. Social inequality has worsened over the years. Only few gets richer while the majority lives in abject poverty

Tears of a broken dream now flows freely on the faces of youth.

What lies at the end of the road? Of course, the predictable end is a life of tears and misery!

The beast has grown wild. He tears down anyone that refuses to acknowledge him. It is past the possibility of taming it.

Annihilation! A dreaded annihilation of this old and obsolete system is the only guarantee of hope still left for the afflicted ones.

The new cannot evolve from the old. The old must implode and must forever remain buried under a pile of ruins!

The afflicted ones will be liberated from the shackles of a wicked political system. A sigh of relief will spell a new dawn for the few who pledge loyalty to God.

The tyrant will be torn to pieces in the ensuing wreckage of this wicked political system...

Masterpiec30:
KAI IT SEEMS THIS NAIRALAND COPIES AN ALREADY OUTDATED NEWS FROM LINDA IKEJI'S BLOG . SINCE I STARTED FOLLOWING LINDA IKEJI'S BLOG ITS AS IF I AM READING ALL THE NEWS THE SECOND TIME HERE ON NAIRALAND. LINDA IS ON ANOTHER LEVEL BIKO.

darleenje:


Did they tell you countries declare the amount of dollar in their custody to the public? What you see in public is a fraction of what the government has. Dollars in private purses are not declared by the government though they use it in transactions.

Kizyte:
Has anyone noticed the Arabic write up in the Nigerian Army's Logo?

techmo:


Oga tell us Na as if you think say I be learner, And I carry L for head

Visit ministry of finance website and website of FAAC to see the chikeni money all state , local and federal government share

No worry when Sanusi talk am say Nigeria. Go soon go bankrupt una dey laugh we go soon see

Kizyte:
Has anyone noticed the Arabic write up in the Nigerian Army's Logo?

ethicallyright:


Understand economics first.
If government tax bank accounts through stamp duties and importers at the seaports, the money generated by the government is in naira because the payments are made in naira.

For Nigeria to have dollars it must come from the US , through exports to other countries , loans or grants from International financial institutions like the IMF.

If you steal 500trillion naira and the dollars available for exchange in Nigeria is just 25billion dollars your 500 trillion naira will remain in Nigeria and cause inflation. For the 500 trillion naira to be useful in any other country , you must change it to dollars and changing such amount to stack abroad will eat up the available dollars in circulation.

Nigeria's source of dollars is petroleum that's why Buhari is the petroleum minister.

techmo

Mansorymx, value added taxes are collected in Naira right?
Now why would the government that printed the 200 naira note with which you pay the tax not print more 200 naira notes instead of collecting tax from you?
Answer this question , I'll explain to let you understand techmo's point.

techmo:


Oga tell us Na as if you think say I be learner, And I carry L for head

Visit ministry of finance website and website of FAAC to see the chikeni money all state , local and federal government share

No worry when Sanusi talk am say Nigeria. Go soon go bankrupt una dey laugh we go soon see

Masterpiec30:
KAI IT SEEMS THIS NAIRALAND COPIES AN ALREADY OUTDATED NEWS FROM LINDA IKEJI'S BLOG . SINCE I STARTED FOLLOWING LINDA IKEJI'S BLOG ITS AS IF I AM READING ALL THE NEWS THE SECOND TIME HERE ON NAIRALAND. LINDA IS ON ANOTHER LEVEL BIKO.

Liquidbettle:
Is that possible

michoim:
Foolishly concocted stories...
1. If Buhari is using him as proxy why asked him to return the money to national treasury.
2. The same story says Sabiu is being used by Daura as proxy and that Daura has to defend Sabiu before Buhari...what a contradictory story.
3.The story said monumental corruption will be exposed by end of Buhari tenure...why was monumental corruption not exposed after Buhari left military regime and after his exit from PTF?
4.The concocted story claims Buhari uses proxy to steal money that is why money cannot be traced to him. What a lie! Do you know numerous fraudulent cases of corruption that EFCC has exposed that involved the use of proxies?

slowice:
I ve finally given up.... This is too much for anyone to bear making me wonder why some choose and still supports this calamity of a government.

For all those who packaged this calamity as "change" and booted a lesser evil only hand us the devil himself... It shall not be well with all of you.

MansoryMX:


Your point pls. I am all ears, after all we learn everyday. Lemme learn something from you.