Ali Baba and the forty thieves or is it forty nine thieves.

Donlittle:

naw this time, Na if a and sango house for ogun state them go go
Come welcome am with ebo,

We all know how this will end.
He will be found guilty
Then will be sentenced to 6 months in jail
He will then develop an unnamed medical condition warranting hospital admission
He will subsequently be hospitalised for 6 months, or worse still will be flown abroad for ''further treatment''
After 6 months, will return to spend the loot and become a ''god father'' of some sort.
This is justice a la PDP.

Bankole and EFCC part one

watch out for part 2

This guy will walk away free lol

sorry for african

sorry sorry I sorry for Nigeria ,

Who are the people at large? Those people at Large don't have names abi? EFCC making mockery of themselves

The truth of the matter is that there is too much sentiments going around in naija. As much as I dont like Bankole, I did say that the 10billion story was a media creation. It wasnt like the way the media portrayed it. sometimes we have to be calm when these things happen and try and get the real story. There was an indept analysis of the issues on AIT and the panel was able to show that Bankole didnt steal 10billion like the media was crying out. He did preside over the house where the reps allocated monies to themselves that made them to seek a loan which created the 10billion situation. but the point is, it was a house decision. The whole house were guiilty of the problem so it wasnt just a Bankole problem. But some people kept making it a Bankole problem but the EFCC knows the facts. The house is a corrupt house. Their salaries are ridiculous. We need to bring them back to their senses not just shout about Bankole. Sending Bankole to prison is not the real issue. We must fight the whole and make them accountable. They should stop allocating ridiculous sums to themselves. GEJ cant do it because this is a democracy. If he takes them on, it will become a fight between executive and legislature and it will affect the country. The public has to champion the fight.

@Edicolove, Thank you very much! You have spoken well, One bottle of beer for you!

edicolove:

The truth of the matter is that there is too much sentiments going around in naija. As much as I dont like Bankole, I did say that the 10billion story was a media creation. It wasnt like the way the media portrayed it. sometimes we have to be calm when these things happen and try and get the real story. There was an indept analysis of the issues on AIT and the panel was able to show that Bankole didnt steal 10billion like the media was crying out. He did preside over the house where the reps allocated monies to themselves that made them to seek a loan which created the 10billion situation. but the point is, it was a house decision. The whole house were guiilty of the problem so it wasnt just a Bankole problem. But some people kept making it a Bankole problem but the EFCC knows the facts. The house is a corrupt house. Their salaries are ridiculous. We need to bring them back to their senses not just shout about Bankole. Sending Bankole to prison is not the real issue. We must fight the whole and make them accountable. They should stop allocating ridiculous sums to themselves. GEJ cant do it because this is a democracy. If he takes them on, it will become a fight between executive and legislature and it will affect the country. The public has to champion the fight.

nice one son!. . .you ve got a beer on me too!

funny nairalanders!! i bet u there's no need for all the arguments because that dude is going to come out of this without sweatss, abi no be naija  again he is nt the 1st neither will he be the last, a loota continua!! afterall wat has N10b scam got to do with 400 units 40" LG tv, bullshitt!

edicolove:

The truth of the matter is that there is too much sentiments going around in naija. As much as I dont like Bankole, I did say that the 10billion story was a media creation. It wasnt like the way the media portrayed it. sometimes we have to be calm when these things happen and try and get the real story. There was an indept analysis of the issues on AIT and the panel was able to show that Bankole didnt steal 10billion like the media was crying out. He did preside over the house where the reps allocated monies to themselves that made them to seek a loan which created the 10billion situation. but the point is, it was a house decision. The whole house were guiilty of the problem so it wasnt just a Bankole problem. But some people kept making it a Bankole problem but the EFCC knows the facts. The house is a corrupt house. Their salaries are ridiculous. We need to bring them back to their senses not just shout about Bankole. Sending Bankole to prison is not the real issue. We must fight the whole and make them accountable. They should stop allocating ridiculous sums to themselves. GEJ cant do it because this is a democracy. If he takes them on, it will become a fight between executive and legislature and it will affect the country. The public has to champion the fight.

Thump up!

edicolove:

The truth of the matter is that there is too much sentiments going around in naija. As much as I dont like Bankole, I did say that the 10billion story was a media creation. It wasnt like the way the media portrayed it. sometimes we have to be calm when these things happen and try and get the real story. There was an indept analysis of the issues on AIT and the panel was able to show that Bankole didnt steal 10billion like the media was crying out. He did preside over the house where the reps allocated monies to themselves that made them to seek a loan which created the 10billion situation. but the point is, it was a house decision. The whole house were guiilty of the problem so it wasnt just a Bankole problem. But some people kept making it a Bankole problem but the EFCC knows the facts. The house is a corrupt house. Their salaries are ridiculous. We need to bring them back to their senses not just shout about Bankole. Sending Bankole to prison is not the real issue. We must fight the whole and make them accountable. They should stop allocating ridiculous sums to themselves. GEJ cant do it because this is a democracy. If he takes them on, it will become a fight between executive and legislature and it will affect the country. The public has to champion the fight.

He took the loan under curious circumstances and has not been able to account for it. Isn't that the same as stealing?

Whatever the case, as speaker, the buck stops at his desk, and so he must take the fall.

Should he be singled out for punishment? of course not. but do not try to portray him as a victim which your piece seems to be doing.

He wasn't any more corrupt and certainly not any [i]less [/i]corrupt than those bunch of inglorious looters.

my point is that as the head [then] he must take responsibility, and EFCC is very right to arrest him.

BTW reports have it that this is just the first part of 25billion scam linked to him. so lets see how this unfolds:

But the arraignment of Bankole is the first phase of a three-dimensional trial as he is expected to account for about N25billion.

http://www.thenationonlineng.net/2011/index.php/news/8751-alleged-n9b-contracts-scam-bankole-faces-16-count-charge.html

I honestly agree with edicolove, the 10 billion he was said to have fraudulently stolen is mostly a result of media hype. He can't really steal that much without his colleagues screaming bloood!

Yeah, yeah. Whatever!

Give him his standard 6 months in jail or a few thousand Naira fine as usual.

The cretins that run Nigeria are so useless. By now I would have sacked several people in the Ministry of Justice for not ensuring/instigating judicial penalties are adequate for crimes committed.

[list]So u all tell me,
[li]what about the 1 billion dollars discovered in his Domi-ssShit account, huh?[/li]
[li][/li]Or is that another media way of getting us misinformed
[/list]

in the case against bellisconi the italian prime minister, they will tell u the charges and also tell u the possible jail terms for each of the charges. what do we have here? a noisy and toothless efcc that cannot take decisions of its own but depends on the presidency for every decision.
very soon, no be yoruba ppl? they will soon sew their ashebi(uniform) to court and different places for thanksgiven.
with the way bank ole is singing, soon he will mention one name and the case will end there.
fresh air 2011 and we are going in for the worst.

passi passi, inni inni, propaganda sh~~~t

@Mai_Suya said:

He took the loan under curious circumstances and has not been able to account for it. Isn't that the same as stealing?

Whatever the case, as speaker, the buck stops at his desk, and so he must take the fall.

Should he be singled out for punishment? of course not. but do not try to portray him as a victim which your piece seems to be doing.

He wasn't any more corrupt and certainly not any less corrupt than those bunch of inglorious looters.

my point is that as the head [then] he must take responsibility, and EFCC is very right to arrest him.

I did say very clearly that I dont even like the guy. So my post was not to portray him as a victim. I didnt even say he was not guilty. what I was saying was that we should not allow ourselves to be distracted from the real issues. The EFCC can arrest and prosecute him but that doesnt solve the real problem. In fact, I think the EFCC is just trying to score a media point. Why go thru all that drama just to arrest and prosecute him for price inflation? We must fight these legislators. They are criminals. I am talking about legislators from all the political parties. They are all involved. The new speaker is even a Bankole ally. So I was suprised when ACN said they voted for him because of National interest. How does voting for a crook benefit the nation? Understand my point before you react.

@ johnie

My apologies for the stalking. I left you a message on the "Lekki Axis" thread at https://www.nairaland.com/nigeria/topic-367311.672.html, and was hoping to bring your attention to it. Let me know if it's too much trouble. Many thanks!

EFCC secretly interrogates Nafada, Akogun, Ndume and others in their bid to find Bankole guilty by all means necessary.

Why accuse him of N10 billion fraud before investigation was completed? 
Why single Bankole out for prosecution and make references to unnamed persons as 'others at large'?

EFCC has carefully hidden this information from the media as opposed to the sensationalisation they engaged in prior to Bankole's 'arrest'. It is now becoming clearer to Nigerians that since the ruling parting could not stop Bankole's ally Tambuwal from becoming Speaker, they now want to give the impression that they are truly sincere about this anti-corruption war.

It's only a matter of time.  Jonathan, Farida Waziri, Keyamo, Dino Melaye and their cohorts will be shown to be the true corrupt bunch that are using their platforms of hatred to witch-hunt young upcoming politicians perceived to be a threat to their corrupt existence.

this foolish demeji guy should be jailed for life,

We can not really fight corruption in this country

The problem is really endemic

Hmmmmmmmmmm!
Another fruitless move by EFCC.

What I find very funny about these charges are that they did not take inot account the normal procurement procedures of the FGN.

That the LG TV is sold in the market at N225K does not mean that a contract to someone else would be at the same N225K! What happens to the following costs 1. Transport; 2. Contractor Margin; 3. Installation costs and 4. Cost of funds?

What these means is that EFCC is just playing to the gallery. And who are the others at large? Can EFCC mention the name of one NA personnel that has disappeared, or one of the previous leadership team that has disappeared. is the Clerk of the House at large? All this posturing, na beans.

Akainzo:

What I find very funny about these charges are that they did not take inot account the normal procurement procedures of the FGN.

That the LG TV is sold in the market at N225K does not mean that a contract to someone else would be at the same N225K! What happens to the following costs 1. Transport; 2. Contractor Margin; 3. Installation costs and 4. Cost of funds?

What these means is that EFCC is just playing to the gallery. And who are the others at large? Can EFCC mention the name of one NA personnel that has disappeared, or one of the previous leadership team that has disappeared. is the Clerk of the House at large? All this posturing, na beans.

Stop chatting shyt!!!

Stop chatting utter shyt!

If a single unit costs N295K in the market, then there is already significant margins there for any seller as they are likely to have got it cheaper and would have factored in transportation into that cost. So what other margins is contractor adding to it?

If a contractor is now going to buy 400 at wholesale, it will make sense to buy it directly from source (which will be far less that N295K per unit), not the market, and only a contractor with that ability should be given such a contract.

The N525K appears to be simple unit sale cost and does not include installation costs, so that (most likely) would have been extra for BANK-Ole to steal from.

Cost of funds? Is it not upfront money coming from the public treasury that is interest free?

Even if not upfront money, procurement should only ensure someone with low cost of funds is given the contract.

If this was not corrupt, so why can't the house clerk or someone else in NA go to the market and get it cheaper at N295K per unit and transport everything (400) at an additional cost of N100K (i.e. transportation cost of N250 per unit). Hence it would have cost the house circa N296K per unit after you add the clerk's transport and hotel cost to go to the market?

Fck me! Stop chatting shyt!

Ridiculous charges. The man will come out clean.

EFCC left the elephant to chase a mouse.

fuke:

Ridiculous charges. The man will come out clean.

EFCC left the elephant to chase a mouse.

Why is it ridiculous?

Elephants fly in naija!!!

Sagamite:

Stop chatting shyt!!!

Stop chatting utter shyt!

If a single unit costs N295K in the market, then there is already significant margins there for any seller as they are likely to have got it cheaper and would have factored in transportation into that cost. So what other margins is contractor adding to it?

If a contractor is now going to buy 400 at wholesale, it will make sense to buy it directly from source (which will be far less that N295K per unit), not the market, and only a contractor with that ability should be given such a contract.

The N525K appears to be simple unit sale cost and does not include installation costs, so that (most likely) would have been extra for BANK-Ole to steal from.

Cost of funds? Is it not upfront money coming from the public treasury that is interest free?

Even if not upfront money, procurement should only ensure someone with low cost of funds is given the contract.

If this was not corrupt, so why can't the house clerk or someone else in NA go to the market and get it cheaper at N295K per unit and transport everything (400) at an additional cost of N100K (i.e. transportation cost of N250 per unit). Hence it would have cost the house circa N296K per unit after you add the clerk's transport and hotel cost to go to the market?

Fck me! Stop chatting shyt!

Your post above suggests you haven't had any dealings with corporate procurements and as such your small-time mentality about contracting for government supply. Also, you display a lack of knowledge about how businesses that depend on distributorship are structured.

So, if you were the Clerk, you would go to the LG shop to order 400 units, and then sign a contract for supply, and another for installation, and another for etc, and another for etc-etc?
Any smart businessman would sign a procure and install contact with a company that ensures that the entire logistics is well covered and you only need to pay when everything is in place. This would ensure that you are insured against losses due to bad product, transportation, etc.

My issue is not that it was not bought at an inflated price; my issue is that EFCC did not do its homework well, and thus the charges are very much laughable and could only lead to Bankole being acquitted. And it is even more so when nowhere within the act that he is being charged with stipulates that items MUST be bought at market prices.
I am even very much curious why the Clerk of the House is still very much walking the streets seeing as he is the one DIRECTLY responsible for the purchases. I'd be curious to see how EFCC proofs the collusion without getting the Clerk of the house involved or the Due Process office.

Akainzo:

Your post above suggests you haven't had any dealings with corporate procurements and as such your small-time mentality about contracting for government supply. Also, you display a lack of knowledge about how businesses that depend on distributorship are structured.

So, if you were the Clerk, you would go to the LG shop to order 400 units, and then sign a contract for supply, and another for installation, and another for etc, and another for etc-etc?
Any smart businessman would sign a procure and install contact with a company that ensures that the entire logistics is well covered and you only need to pay when everything is in place. This would ensure that you are insured against losses due to bad product, transportation, etc.

My issue is not that it was not bought at an inflated price; my issue is that EFCC did not do its homework well, and thus the charges are very much laughable and could only lead to Bankole being acquitted. And it is even more so when nowhere within the act that he is being charged with stipulates that items MUST be bought at market prices.
I am even very much curious why the Clerk of the House is still very much walking the streets seeing as he is the one DIRECTLY responsible for the purchases. I'd be curious to see how EFCC proofs the collusion without getting the Clerk of the house involved or the Due Process office.

You still maintain your approach of chatting utter shyt!

So, 1, you assume that the contract was inflated? So what is your argument? Is Bank-Ole not the individual responsible for the budget and the person that signs off transactions?

No 2, even if the clerk took the fictional approach I suggested, you think it will not be cheaper than the fraud being committed? What is your argument?

No 3, I can appreciate procurement approaches and risk management at reasonable cost. This does not indicate such had taken place. So what is your point?

Sagamite:

You still maintain your approach of chatting utter shyt!

So, 1, you assume that the contract was inflated? So what is your argument? Is Bank-Ole not the individual responsible for the budget and the person that signs off transactions?

No 2, even if the clerk took the fictional approach I suggested, you think it will not be cheaper than the fraud being committed? What is your argument?

No 3, I can appreciate procurement approaches and risk management at reasonable cost. This does not indicate such had taken place. So what is your point?

I see you still haven't learnt the power of comprehension.

What I am saying is simple, those charges are laughable! They are designed to make noise and not to get a conviction.
Now to your simpleton questions:
1. That the contract was inflated is not alleged. It is alleged that he should have bought at market prices and that since he did not buy at market prices, then the prices are inflated. I am saying that, this is a stupid way of reasoning and I had shown you above why a procurement though not at market prices is not necessarily inflated. Though in this particular case, I believe it was definitely inflated.
2. That no right thinking Clerk that wants to purchase 400 units for installation would do such fictional approach. It is crass stupidity.
3. That if you appreciate procurement approaches, you would not have been making those your fictional approach based on market prices for purchases of that nature.

My point is, if you or the EFCC are actually interested in getting a conviction rather than playing to teh gallery, you would understand the procurement procedures of the organisation, study it to see who has actual authority and then charge the indicted persons accordingly under the act that would enable you get a conviction.
Would you charge a man for rape when the alleged victim is still a virgin?

Akainzo:

I see you still haven't learnt the power of comprehension.

What I am saying is simple, those charges are laughable! They are designed to make noise and not to get a conviction.
Now to your simpleton questions:
1. That the contract was inflated is not alleged. It is alleged that he should have bought at market prices and that since he did not buy at market prices, then the prices are inflated. I am saying that, this is a silly way of reasoning and I had shown you above why a procurement though not at market prices is not necessarily inflated. Though in this particular case, I believe it was definitely inflated.
2. That no right thinking Clerk that wants to purchase 400 units for installation would do such fictional approach. It is crass stupidity.
3. That if you appreciate procurement approaches, you would not have been making those your fictional approach based on market prices for purchases of that nature.

My point is, if you or the EFCC are actually interested in getting a conviction rather than playing to teh gallery, you would understand the procurement procedures of the organisation, study it to see who has actual authority and then charge the indicted persons accordingly under the act that would enable you get a conviction.
Would you charge a man for violation when the alleged victim is still a virgin?

Nah, if your level of comprehension is power of comprehension, then I don't want it.

Let me teach you comprehension since you are clueless.

Let me correct your dumb understanding:

1) He is not being charged for not buying at market prices? Where the fck did you get that dumb conclusion? He is being charged for not following due process of an act: "(a) of the public Procurement Act No. 14 of 2007 and punishable under Section 58 (5) of the same Act which led to loss to the state. What don't you comprehend about that? You can't read?

Let me explain it to you. He is being charged for not follow the process of public procurement and ended up with highly inflated contracts. Do you understand that or do you want us to get a dictionary and simplify some English words? Abi which dialect do you want it translated to?

Explain: What is laughable about that charge?

2) & 3) The fictional scenario was INTENTIONALLY crass just to juxtapose to the fraud to show how even a crass approach will have made better commercial sense and still have produced a cheaper procurement hence they had "No excuses". It was used to emphasis clear corruption. Your intellect is too low to comprehend that?

Now for your daft virgin comparison, it was too lame and neither made sense nor provided intelligent analogy.

Do you agree you have been educated on comprehension today? In you lame attempt to appear like an intellectual devil's advocate you have ended up with the misfortune of facing someone a billion times more intelligent than you. Start apologising now and pleading for your reputation not to be destroyed with my intellect.