Its a Nigerian thing.

Jonathan should be happy that Labour, SNG and TUC came in and organize the last protest. If every Nigeria went out to be creative about venting their anger, beating him black and blue should have been the least of his worries.

[img]http://2.bp..com/--ozqBdvf4q4/TxJGJQ4YyOI/AAAAAAAABTk/b_TslbdjwNU/s640/MassiveOccupyNigeriacrowdLagos.jpg[/img]

Logic Mind: only the SS abokis and their SE western slaves.

^^^^Daft/foolish comment.Since anyone who does in your opinion is instantly disowned and label as Northerner or westerner by your kind abi!!! where is the freedom in persons like you who stigmatize your own for voicing out a different view from yours?

Honestly i promised to stay clear insulting the person of the president and i am doing my best to hold that intact.I believe insulting him is wishing him that as it may.So i rather pray for him or wish him well else i keep mute.I am also not okay with the damning insults some people use on him.It's extreme and should be more subtle and constructive.Make sense than make him look disconnected always and lacking authority over matters of the nation.

I will not insult Jonah.
But will say that his decisions are foolish and insensible.
Not an "In-sult" but "In-Truth".
He is not prepared for that position, so he is drifted up and down by his supperiors.
You know them. 1. OKJ IWL. and FDF decode the letters.

The people that like insulting Jonathan are mainly Yorubas, it was a shock to them that Ijaw man is the president, they couldn't believe their eye, the shock have caused them Brain malfunctioning.

if you are a thief AND have no respect for your fellow masses , you will automatically respect GEJ.

@Topic.
Dunno . . . cos he's, erm, insult-able?

Am tired seeing threads like this repeating itself. The so called peeps against saying it the way it is for the retardeen are always at the fore-front when their fathers like ojukwu, ibb, buhari, tinubu, aregbe etc are insulted.
My president the retardeen unfortunately is dumb and am proud to say so.

It could be any or a combination of the following.

1. For some, it's an emotional response to the perceived failure of the president to deliver on his promises.

2. He is perceived as being weak and incompetent due to his easy-going mien. He indeed said he's "not a lion or a General or a Pharaoh".

3. Some people feel he's done little to curb corruption, especially his slow response to the fuel subsidy report, failure to sack DAM and so on.

4. Some people just don't like his face.

Did I leave anything out?

Fhemmmy:

Well, 2015 is almost here, let us see if they could take the disappointment to the POLL and vote him out . . . or they will collect their usual 50 Naira for a vote and sell their vote or just stay home with the "i dont care" attitude . . .

Precisely. We dey wait.

glowithdan: It is gradually becoming a way of life here in Nigeria with the way we insult our president.

Not taking away the freedom of expression, I personally think it's high time we stopped this disrespectful act, and rather seek everything little ways we can, in contributing to the growth of our nation!!

My candid opinion.

It's not an issue of insulting GEJ. People are rightly fed up with the incompetence of his government. Long on promises short on delivery. Reminds me of Mr B in Basi and Company.

#

Beaf: After some time children outgrow childishness and fools outgrow foolishness; those that won't will be shamed by events.
Let those who are ill-bred display their ill-breeding.

Double standards eh?
Ain't you the man that insults an incumbent governor calling him 'Aregbe-Rascal' ?

Yet you're here trying to paint birds of the same feather like you with your holier than thou attitude...

Fhemmmy:

All eyes are watching too, cos i can almost bet anything that GEJ will be the leader again come 2015.
Na Nigeria we dey talk about, and Nigerians have short memory of their pain and sorrow . . . .The Password to the heart of most Nigerians is MONEY . . no wonder it was said that the man that pays the bill dictates the tune.

Exactly. By 2015 we'll probably see Madam Patience distributing bags of rice, like she did prior to last year's elections.

[color=#990000][/color][b][/b]The 155billion naira presidential scam: How Jonathan’s associates, ministers shared largesse

Please read the below and you will understand why Nigerians abuse him. Since this scandal broke, there has been no official response from the president.

source: http://premiumtimesng.com/news/5267-how_jonathan_s_associates_shared_largesse.html

The presidency, his associates and some ministers have been named in a monumental money laundering scandal, one of the most elaborate in Nigeria's history.

PREMIUM TIMES can reveal today that the N155billion secretly paid to convicted money launderer, Dan Etete, by the Federal Government, on the orders of President Goodluck Jonathan, was actually a slush fund, with a huge chunk of it ending in bank accounts of cronies and business associates of government officials and at least one individual with links to Mr. Jonathan.

Our investigation also indicates that in order to cover up what is clearly one of the most elaborate corruption schemes in Nigeria’s history, the president tapped the junior minister in the finance ministry, Yerima Ngama, and Attorney General Mohammed Adoke to hurriedly transfer the funds to Mr. Etete on August 16, 2011, a day before the Minister of Finance, Ngozi Okonjo-Iweala, assumed office.

Mrs. Okonjo-Iweala was not available Friday to comment on her knowledge of the transaction. Her spokesperson, Paul Nwabuikwu, said she was away in Zimbabwe on an official engagement.

This website had on Monday reported how the Nigerian subsidiaries of two multinational oil companies Nigeria Agip Exploration Limited (Agip) and Shell Nigeria Exploration and Production Company Limited (Shell) paid $1.1billion (N155billion) to the Federal Government in April last year for onward transmission to Malabu Oil whose principal is Mr. Etete.

Our subsequent investigations later showed that the Economic and Financial Crimes Commission (EFCC) had indeed investigated the deal, concluding that the transaction pointed at a “cloudy scene associated with fraudulent dealings.”

The EFCC investigation also clearly established that Mr. Etete’s Malabu only served as a money laundering machine, as substantial parts of the funds was later transferred to various accounts owned by “real and artificial persons” suspected to have links with the presidency and other government officials.

Presidency sources familiar with the matter say the EFCC intimated President Jonathan and Mr. Adoke of its findings.

“But I can tell you that the investigation has suffered a setback since the presidency got wind of it,” one of our sources said. “There is high-level complicity in the deal and there is therefore high-level cover up. The report is gathering dust on the president’s desk.”

Mr. Jonathan’s spokesperson, Reuben Abati, could not be reached on his mobile telephones to comment for this story Friday. And so also was Mr. Adoke. Mr. Ngama did not return calls to his mobile telephone.

Relying on court papers in the United States (where some consultants have sued Malabo for breach of contract), checks at the Corporate Affairs Commission (CAC) and on its own investigations, the EFCC established that “a prima facie case of conspiracy, breach of trust, theft and money laundering can be established against some real and artificial persons.”

The beneficiaries

At the heart of this brazen theft of public funds is one Abubakar Aliyu, a man whom top presidency and EFCC sources described as “Mr. Corruption” and who has very close business ties with Diepreiye Alamiesegha, convicted former governor of Bayelsa state.

Mr. Alamiesegha, the self-styled governor-general of the Ijaw nation, is the man who picked Mr. Jonathan as his running mate in the 1999 governorship election in Bayelsa state and whom Mr. Jonathan succeeded in office after the former was impeached over corruption charges.

The disgraced former governor played a major role in Mr. Jonathan’s election last year, serving as both an adviser and a top campaign official.

Mr. Aliyu, through companies co-owned by him, received direct payments of $523mn (N81bn) from the largesse. Investigators believe that the businessman, introduced to the president by Mr. Alamieyeseigha, was Mr. Jonathan’s front in the transaction.

Mr. Aliyu is however not new to corrupt deals. One of his companies was recently found to be involved in a shady deal which involved the buying of a landed property from a government agency (NITEL) for N1billion and then reselling the same property to another government agency (CBN) for N21billion.

He allegedly used his links with late President Musa Yar’Adua and President Jonathan to broker the deals, and then reportedly paid kickbacks to some government officials.

Mr. Adoke, the current Justice Minister was named in that deal too just as sources believe he played a major role in the sharing of the N155billion largesse.

Sharing the money

On August 16, 2011, Mr. Adoke and the Minister of State for Finance, Yerima Ngama, coordinated the payment of a first tranche of $401.5million (N60billion) into a First Bank account 2018288005 belonging to Malabu.

Another $400millionn (N60billion) was, based on the duo’s instructions, transferred into a Malabu Bank PHB (now Keystone bank) account 3610042472 from a Nigerian government account with JP Morgan International Bank. The balance of the funds was reportedly lodged into Mr. Etete’s account with Zenith Bank.

Immediately Malabu received the money, the distribution began. Rocky Top Resources Limited, co-owned by Mr. Aliyu received $336 million (N50bn) from the Malabu Keystone Bank deposit. Other companies that got money from the Malabu curious transfers include A-Group Construction Company, also co-owned by Mr. Aliyu. It received $157mn (N24bn), while Novel Property and Development Limited, also co-owned by Mr. Aliyu got $30 million (N4.5bn).

Companies not linked to Mr. Aliyu but got money from Malabu include Mega Tech Engr Co. Ltd, which received $180 million (N27bn) and Imperial Union Limited, $34million (N5.1bn).

Sources say these companies, like Mr. Aliyu’s, simply acted as fronts for political office holders, who helped to facilitate the transfer, as they have no basis to receive such huge sums of money from Malabu. The EFCC has also not identified what task these companies performed to deserve the payments.

“Reasons for this payment is yet to be ascertained,” the commission said.

Long before the largesse was shared however, Malabu had become a company renowned for shady deals.

A history of fraud

According to investigators, through “conspiracy, forgery, uttering forged document, criminal misappropriation and money laundering,” Mr. Etete and Malabu Oil had been involved in illegalities since its formation.

Formed on April 24, 1998, Malabu Oil had three shareholders: Mohammed Sani (Abacha, son of late military dictator Sani Abacha), Kweku Amafagha (who was representing Dan Etete on the board), and Hassan Hindu (representing her husband, Hassan Lawal, a former Nigerian High Commissioner to the UK). Mr. Sani owned 10 million of the 20 million shares in the company; Mr. Etete six million and Mr. Hassan, four million.

Five days after the company was formed and registered at the CAC, it got two oil blocks awarded to it by the then military government: OPL 245 and OPL 214.

Mr. Etete was petroleum minister at the time.

Controversy however trailed the oil blocks as President Olusegun Obasanjo, in 2001, revoked the allocations, giving OPL 245 to Shell.

After several court cases in Nigeria and overseas between Malabu, Shell, and the Federal Government, the oil blocks were re-awarded to Malabu in 2010.

Scheming out Abacha

Following a secret resolution on the oil block with the Federal Government, Mr. Etete decided to edge out Mr. Abacha from the ownership of Malabu. It is not clear if this is one of the conditions the Federal Government gave to Mr. Etete during the negotiations.

However at an extraordinary general meeting of Malabu on June 9, 2010, Mr. Abacha and a company related to him, Pecos Energy, were removed as shareholders of Malabu. The new owners (believed to be fronts for Mr. Etete) became Munamuma Seidougha and Amaran Joseph, both of whom had 10 million shares each.

These changes, the EFCC stated “gave rise to a lot of moral and ethical question that can necessitate an objective and full blown investigation into the matter.”

Mr. Abacha however fought back fiercely. Sensing that he had been schemed out and aware that Mr. Etete was already negotiating with Shell and Agip, he decided to act.

The Shell, Agip, FG, Etete conspiracy

PREMIUM TIMES learnt that Ednan Agaev, an international counsel hired by Malabu told the Supreme Court of New York in an affidavit that he was appointed by Malabu to find an investor for OPL245.

“One John Coplestone of SHELL, a party to the negotiation informed him that Mohammed Sani (Abacha) is laying claim over OPL 245,” the EFCC stated. An AGIP official also told Mr. Agaev that “in view of the new claim by Mohammed Sani (Abacha), a direct deal with Malabu would not be possible.”

Mr. Agaev then informed Mr. Etete of the new development and suggested a way out.

To put off Mr. Sani (Abacha) from realizing his claim, “The FGN (should) take back the oil block from Malabu, transfer the rights to ENI AGIP/Shell and pay Malabu a compensation from the payments made by ENI AGIP and Shell,”

The oil companies agreed accepted the proposal. “By the end of March 2011, the FGN seemed to have acted with the suggestion,” the EFCC said.

This new evidence gathered by the EFCC contradicts the claims of Shell, who through its spokesman, Precious Okolobo, denied knowing that Malabu was to be the recipient of its payment.

“Shell was not aware that that money was to be paid to Malabu,” Mr. Okolobo had told PREMIUM TIMES.




[b]The 155billion naira presidential scam: How Jonathan’s associates, ministers shared largesse

Please read the below and you will understand why Nigerians abuse him. Since this scandal broke, there has been no official response from the president.

source: http://premiumtimesng.com/news/5267-how_jonathan_s_associates_shared_largesse.html

The presidency, his associates and some ministers have been named in a monumental money laundering scandal, one of the most elaborate in Nigeria's history.

PREMIUM TIMES can reveal today that the N155billion secretly paid to convicted money launderer, Dan Etete, by the Federal Government, on the orders of President Goodluck Jonathan, was actually a slush fund, with a huge chunk of it ending in bank accounts of cronies and business associates of government officials and at least one individual with links to Mr. Jonathan.

Our investigation also indicates that in order to cover up what is clearly one of the most elaborate corruption schemes in Nigeria’s history, the president tapped the junior minister in the finance ministry, Yerima Ngama, and Attorney General Mohammed Adoke to hurriedly transfer the funds to Mr. Etete on August 16, 2011, a day before the Minister of Finance, Ngozi Okonjo-Iweala, assumed office.

Mrs. Okonjo-Iweala was not available Friday to comment on her knowledge of the transaction. Her spokesperson, Paul Nwabuikwu, said she was away in Zimbabwe on an official engagement.

This website had on Monday reported how the Nigerian subsidiaries of two multinational oil companies Nigeria Agip Exploration Limited (Agip) and Shell Nigeria Exploration and Production Company Limited (Shell) paid $1.1billion (N155billion) to the Federal Government in April last year for onward transmission to Malabu Oil whose principal is Mr. Etete.

Our subsequent investigations later showed that the Economic and Financial Crimes Commission (EFCC) had indeed investigated the deal, concluding that the transaction pointed at a “cloudy scene associated with fraudulent dealings.”

The EFCC investigation also clearly established that Mr. Etete’s Malabu only served as a money laundering machine, as substantial parts of the funds was later transferred to various accounts owned by “real and artificial persons” suspected to have links with the presidency and other government officials.

Presidency sources familiar with the matter say the EFCC intimated President Jonathan and Mr. Adoke of its findings.

“But I can tell you that the investigation has suffered a setback since the presidency got wind of it,” one of our sources said. “There is high-level complicity in the deal and there is therefore high-level cover up. The report is gathering dust on the president’s desk.”

Mr. Jonathan’s spokesperson, Reuben Abati, could not be reached on his mobile telephones to comment for this story Friday. And so also was Mr. Adoke. Mr. Ngama did not return calls to his mobile telephone.

Relying on court papers in the United States (where some consultants have sued Malabo for breach of contract), checks at the Corporate Affairs Commission (CAC) and on its own investigations, the EFCC established that “a prima facie case of conspiracy, breach of trust, theft and money laundering can be established against some real and artificial persons.”

The beneficiaries

At the heart of this brazen theft of public funds is one Abubakar Aliyu, a man whom top presidency and EFCC sources described as “Mr. Corruption” and who has very close business ties with Diepreiye Alamiesegha, convicted former governor of Bayelsa state.

Mr. Alamiesegha, the self-styled governor-general of the Ijaw nation, is the man who picked Mr. Jonathan as his running mate in the 1999 governorship election in Bayelsa state and whom Mr. Jonathan succeeded in office after the former was impeached over corruption charges.

The disgraced former governor played a major role in Mr. Jonathan’s election last year, serving as both an adviser and a top campaign official.

Mr. Aliyu, through companies co-owned by him, received direct payments of $523mn (N81bn) from the largesse. Investigators believe that the businessman, introduced to the president by Mr. Alamieyeseigha, was Mr. Jonathan’s front in the transaction.

Mr. Aliyu is however not new to corrupt deals. One of his companies was recently found to be involved in a shady deal which involved the buying of a landed property from a government agency (NITEL) for N1billion and then reselling the same property to another government agency (CBN) for N21billion.

He allegedly used his links with late President Musa Yar’Adua and President Jonathan to broker the deals, and then reportedly paid kickbacks to some government officials.

Mr. Adoke, the current Justice Minister was named in that deal too just as sources believe he played a major role in the sharing of the N155billion largesse.

Sharing the money

On August 16, 2011, Mr. Adoke and the Minister of State for Finance, Yerima Ngama, coordinated the payment of a first tranche of $401.5million (N60billion) into a First Bank account 2018288005 belonging to Malabu.

Another $400millionn (N60billion) was, based on the duo’s instructions, transferred into a Malabu Bank PHB (now Keystone bank) account 3610042472 from a Nigerian government account with JP Morgan International Bank. The balance of the funds was reportedly lodged into Mr. Etete’s account with Zenith Bank.

Immediately Malabu received the money, the distribution began. Rocky Top Resources Limited, co-owned by Mr. Aliyu received $336 million (N50bn) from the Malabu Keystone Bank deposit. Other companies that got money from the Malabu curious transfers include A-Group Construction Company, also co-owned by Mr. Aliyu. It received $157mn (N24bn), while Novel Property and Development Limited, also co-owned by Mr. Aliyu got $30 million (N4.5bn).

Companies not linked to Mr. Aliyu but got money from Malabu include Mega Tech Engr Co. Ltd, which received $180 million (N27bn) and Imperial Union Limited, $34million (N5.1bn).

Sources say these companies, like Mr. Aliyu’s, simply acted as fronts for political office holders, who helped to facilitate the transfer, as they have no basis to receive such huge sums of money from Malabu. The EFCC has also not identified what task these companies performed to deserve the payments.

“Reasons for this payment is yet to be ascertained,” the commission said.

Long before the largesse was shared however, Malabu had become a company renowned for shady deals.

A history of fraud

According to investigators, through “conspiracy, forgery, uttering forged document, criminal misappropriation and money laundering,” Mr. Etete and Malabu Oil had been involved in illegalities since its formation.

Formed on April 24, 1998, Malabu Oil had three shareholders: Mohammed Sani (Abacha, son of late military dictator Sani Abacha), Kweku Amafagha (who was representing Dan Etete on the board), and Hassan Hindu (representing her husband, Hassan Lawal, a former Nigerian High Commissioner to the UK). Mr. Sani owned 10 million of the 20 million shares in the company; Mr. Etete six million and Mr. Hassan, four million.

Five days after the company was formed and registered at the CAC, it got two oil blocks awarded to it by the then military government: OPL 245 and OPL 214.

Mr. Etete was petroleum minister at the time.

Controversy however trailed the oil blocks as President Olusegun Obasanjo, in 2001, revoked the allocations, giving OPL 245 to Shell.

After several court cases in Nigeria and overseas between Malabu, Shell, and the Federal Government, the oil blocks were re-awarded to Malabu in 2010.

Scheming out Abacha

Following a secret resolution on the oil block with the Federal Government, Mr. Etete decided to edge out Mr. Abacha from the ownership of Malabu. It is not clear if this is one of the conditions the Federal Government gave to Mr. Etete during the negotiations.

However at an extraordinary general meeting of Malabu on June 9, 2010, Mr. Abacha and a company related to him, Pecos Energy, were removed as shareholders of Malabu. The new owners (believed to be fronts for Mr. Etete) became Munamuma Seidougha and Amaran Joseph, both of whom had 10 million shares each.

These changes, the EFCC stated “gave rise to a lot of moral and ethical question that can necessitate an objective and full blown investigation into the matter.”

Mr. Abacha however fought back fiercely. Sensing that he had been schemed out and aware that Mr. Etete was already negotiating with Shell and Agip, he decided to act.

The Shell, Agip, FG, Etete conspiracy

PREMIUM TIMES learnt that Ednan Agaev, an international counsel hired by Malabu told the Supreme Court of New York in an affidavit that he was appointed by Malabu to find an investor for OPL245.

“One John Coplestone of SHELL, a party to the negotiation informed him that Mohammed Sani (Abacha) is laying claim over OPL 245,” the EFCC stated. An AGIP official also told Mr. Agaev that “in view of the new claim by Mohammed Sani (Abacha), a direct deal with Malabu would not be possible.”

Mr. Agaev then informed Mr. Etete of the new development and suggested a way out.

To put off Mr. Sani (Abacha) from realizing his claim, “The FGN (should) take back the oil block from Malabu, transfer the rights to ENI AGIP/Shell and pay Malabu a compensation from the payments made by ENI AGIP and Shell,”

The oil companies agreed accepted the proposal. “By the end of March 2011, the FGN seemed to have acted with the suggestion,” the EFCC said.

This new evidence gathered by the EFCC contradicts the claims of Shell, who through its spokesman, Precious Okolobo, denied knowing that Malabu was to be the recipient of its payment.

“Shell was not aware that that money was to be paid to Malabu,” Mr. Okolobo had told PREMIUM TIMES.




[/b]The 155billion naira presidential scam: How Jonathan’s associates, ministers shared largesse

Please read the below and you will understand why Nigerians abuse him. Since this scandal broke, there has been no official response from the president.

source: http://premiumtimesng.com/news/5267-how_jonathan_s_associates_shared_largesse.html

The presidency, his associates and some ministers have been named in a monumental money laundering scandal, one of the most elaborate in Nigeria's history.

PREMIUM TIMES can reveal today that the N155billion secretly paid to convicted money launderer, Dan Etete, by the Federal Government, on the orders of President Goodluck Jonathan, was actually a slush fund, with a huge chunk of it ending in bank accounts of cronies and business associates of government officials and at least one individual with links to Mr. Jonathan.

Our investigation also indicates that in order to cover up what is clearly one of the most elaborate corruption schemes in Nigeria’s history, the president tapped the junior minister in the finance ministry, Yerima Ngama, and Attorney General Mohammed Adoke to hurriedly transfer the funds to Mr. Etete on August 16, 2011, a day before the Minister of Finance, Ngozi Okonjo-Iweala, assumed office.

Mrs. Okonjo-Iweala was not available Friday to comment on her knowledge of the transaction. Her spokesperson, Paul Nwabuikwu, said she was away in Zimbabwe on an official engagement.

This website had on Monday reported how the Nigerian subsidiaries of two multinational oil companies Nigeria Agip Exploration Limited (Agip) and Shell Nigeria Exploration and Production Company Limited (Shell) paid $1.1billion (N155billion) to the Federal Government in April last year for onward transmission to Malabu Oil whose principal is Mr. Etete.

Our subsequent investigations later showed that the Economic and Financial Crimes Commission (EFCC) had indeed investigated the deal, concluding that the transaction pointed at a “cloudy scene associated with fraudulent dealings.”

The EFCC investigation also clearly established that Mr. Etete’s Malabu only served as a money laundering machine, as substantial parts of the funds was later transferred to various accounts owned by “real and artificial persons” suspected to have links with the presidency and other government officials.

Presidency sources familiar with the matter say the EFCC intimated President Jonathan and Mr. Adoke of its findings.

“But I can tell you that the investigation has suffered a setback since the presidency got wind of it,” one of our sources said. “There is high-level complicity in the deal and there is therefore high-level cover up. The report is gathering dust on the president’s desk.”

Mr. Jonathan’s spokesperson, Reuben Abati, could not be reached on his mobile telephones to comment for this story Friday. And so also was Mr. Adoke. Mr. Ngama did not return calls to his mobile telephone.

Relying on court papers in the United States (where some consultants have sued Malabo for breach of contract), checks at the Corporate Affairs Commission (CAC) and on its own investigations, the EFCC established that “a prima facie case of conspiracy, breach of trust, theft and money laundering can be established against some real and artificial persons.”

The beneficiaries

At the heart of this brazen theft of public funds is one Abubakar Aliyu, a man whom top presidency and EFCC sources described as “Mr. Corruption” and who has very close business ties with Diepreiye Alamiesegha, convicted former governor of Bayelsa state.

Mr. Alamiesegha, the self-styled governor-general of the Ijaw nation, is the man who picked Mr. Jonathan as his running mate in the 1999 governorship election in Bayelsa state and whom Mr. Jonathan succeeded in office after the former was impeached over corruption charges.

The disgraced former governor played a major role in Mr. Jonathan’s election last year, serving as both an adviser and a top campaign official.

Mr. Aliyu, through companies co-owned by him, received direct payments of $523mn (N81bn) from the largesse. Investigators believe that the businessman, introduced to the president by Mr. Alamieyeseigha, was Mr. Jonathan’s front in the transaction.

Mr. Aliyu is however not new to corrupt deals. One of his companies was recently found to be involved in a shady deal which involved the buying of a landed property from a government agency (NITEL) for N1billion and then reselling the same property to another government agency (CBN) for N21billion.

He allegedly used his links with late President Musa Yar’Adua and President Jonathan to broker the deals, and then reportedly paid kickbacks to some government officials.

Mr. Adoke, the current Justice Minister was named in that deal too just as sources believe he played a major role in the sharing of the N155billion largesse.

Sharing the money

On August 16, 2011, Mr. Adoke and the Minister of State for Finance, Yerima Ngama, coordinated the payment of a first tranche of $401.5million (N60billion) into a First Bank account 2018288005 belonging to Malabu.

Another $400millionn (N60billion) was, based on the duo’s instructions, transferred into a Malabu Bank PHB (now Keystone bank) account 3610042472 from a Nigerian government account with JP Morgan International Bank. The balance of the funds was reportedly lodged into Mr. Etete’s account with Zenith Bank.

Immediately Malabu received the money, the distribution began. Rocky Top Resources Limited, co-owned by Mr. Aliyu received $336 million (N50bn) from the Malabu Keystone Bank deposit. Other companies that got money from the Malabu curious transfers include A-Group Construction Company, also co-owned by Mr. Aliyu. It received $157mn (N24bn), while Novel Property and Development Limited, also co-owned by Mr. Aliyu got $30 million (N4.5bn).

Companies not linked to Mr. Aliyu but got money from Malabu include Mega Tech Engr Co. Ltd, which received $180 million (N27bn) and Imperial Union Limited, $34million (N5.1bn).

Sources say these companies, like Mr. Aliyu’s, simply acted as fronts for political office holders, who helped to facilitate the transfer, as they have no basis to receive such huge sums of money from Malabu. The EFCC has also not identified what task these companies performed to deserve the payments.

“Reasons for this payment is yet to be ascertained,” the commission said.

Long before the largesse was shared however, Malabu had become a company renowned for shady deals.

A history of fraud

According to investigators, through “conspiracy, forgery, uttering forged document, criminal misappropriation and money laundering,” Mr. Etete and Malabu Oil had been involved in illegalities since its formation.

Formed on April 24, 1998, Malabu Oil had three shareholders: Mohammed Sani (Abacha, son of late military dictator Sani Abacha), Kweku Amafagha (who was representing Dan Etete on the board), and Hassan Hindu (representing her husband, Hassan Lawal, a former Nigerian High Commissioner to the UK). Mr. Sani owned 10 million of the 20 million shares in the company; Mr. Etete six million and Mr. Hassan, four million.

Five days after the company was formed and registered at the CAC, it got two oil blocks awarded to it by the then military government: OPL 245 and OPL 214.

Mr. Etete was petroleum minister at the time.

Controversy however trailed the oil blocks as President Olusegun Obasanjo, in 2001, revoked the allocations, giving OPL 245 to Shell.

After several court cases in Nigeria and overseas between Malabu, Shell, and the Federal Government, the oil blocks were re-awarded to Malabu in 2010.

Scheming out Abacha

Following a secret resolution on the oil block with the Federal Government, Mr. Etete decided to edge out Mr. Abacha from the ownership of Malabu. It is not clear if this is one of the conditions the Federal Government gave to Mr. Etete during the negotiations.

However at an extraordinary general meeting of Malabu on June 9, 2010, Mr. Abacha and a company related to him, Pecos Energy, were removed as shareholders of Malabu. The new owners (believed to be fronts for Mr. Etete) became Munamuma Seidougha and Amaran Joseph, both of whom had 10 million shares each.

These changes, the EFCC stated “gave rise to a lot of moral and ethical question that can necessitate an objective and full blown investigation into the matter.”

Mr. Abacha however fought back fiercely. Sensing that he had been schemed out and aware that Mr. Etete was already negotiating with Shell and Agip, he decided to act.

The Shell, Agip, FG, Etete conspiracy

PREMIUM TIMES learnt that Ednan Agaev, an international counsel hired by Malabu told the Supreme Court of New York in an affidavit that he was appointed by Malabu to find an investor for OPL245.

“One John Coplestone of SHELL, a party to the negotiation informed him that Mohammed Sani (Abacha) is laying claim over OPL 245,” the EFCC stated. An AGIP official also told Mr. Agaev that “in view of the new claim by Mohammed Sani (Abacha), a direct deal with Malabu would not be possible.”

Mr. Agaev then informed Mr. Etete of the new development and suggested a way out.

To put off Mr. Sani (Abacha) from realizing his claim, “The FGN (should) take back the oil block from Malabu, transfer the rights to ENI AGIP/Shell and pay Malabu a compensation from the payments made by ENI AGIP and Shell,”

The oil companies agreed accepted the proposal. “By the end of March 2011, the FGN seemed to have acted with the suggestion,” the EFCC said.

This new evidence gathered by the EFCC contradicts the claims of Shell, who through its spokesman, Precious Okolobo, denied knowing that Malabu was to be the recipient of its payment.

“Shell was not aware that that money was to be paid to Malabu,” Mr. Okolobo had told PREMIUM TIMES.

Chyz*:
He insults himself by making incompetent decisions.

Exactly, he deserves everything he is been called and much more, until he becomes competent, till then, he is unworthy of that position.

Because he's a confused wreck!

Fhemmmy:

Lol . . . This time, she wont even have to do that, Ordinary handshake from her will make their day . . . So sad

Abi o. I can imagine someone saying "I voted for Jonathan because I shook hands with his wife". As Kobojunkie would say, ROTFLMAO!!!!

glowithdan: It is gradually becoming a way of life here in Nigeria with the way we insult our president.

Not taking away the freedom of expression, I personally think it's high time we stopped this disrespectful act, and rather seek everything little ways we can, in contributing to the growth of our nation!!

My candid opinion.

We thought Yaradua was slow............but we found out that GEJ is STAND STILL.

GEJ deserves every insult that has been rained on him. He holds the title of the worst Nigerian president as at today..........even OBJ is BY FAR better than him.

We are completely disappointed and i am ashamed to refer to him as my president.

People insult this particualr man because he is specifically dumb.

National leaders rarely come more dumb.

Intelligent people like us were saying it before the election but Nigerian ediots voted for him because he is a southerner and, according to fucktards, he has shown he has goodluck.

Even the BBC noted it when they reported that his advisers were trying to shield him from presidential debates maybe because they know he is not that sharp.

Na question be this? Why would Jonathan not also respect himself? Look at the disgraceful response to Muhammadu Buhari's statement. Filled with gutter language. The truth is Jona's media people do more harm than good to his office. Most of their statements are patronizing and condescending on Nigerians and it is thus natural that people would react to the President with so much animosity. Time to do away with hungry souls like Uranta, Oronto Douglas and Omokri!

Nobody will abuse the personality of GEJ, but the performance of the occupier of that office.

Because he z d father of d nation...

If Jonathan do heaven and earth to the Yorubas, they will still insult him, only want they want is for him to vacate that office, they are not happy Ijaw man is the president, if Jonathan is corrupt where are we going to place Awolowo, as the finance minister conspired with his Yoruba kinsmen and unleash the worst looting of Nigeria Coffers.
Ok,Jonathan learnt to be corrupt from Awolowo.
Is time Nigeria police and Efcc arrest Awos wife HID and her children, they have to return the money Awolowo Embezzled.
EFCC arrest HID Awolowo now.

ballabriggs: Na question be this? Why would Jonathan not also respect himself? Look at the disgraceful response to Muhammadu Buhari's statement. Filled with gutter language. The truth is Jona's media people do more harm than good to his office. Most of their statements are patronizing and condescending on Nigerians and it is thus natural that people would react to the President with so much animosity. Time to do away with hungry souls like Uranta, Oronto Douglas and Omokri!

I'm surprised Abati is not in that list of yours.

HNosegbe:

I'm surprised Abati is not in that list of yours.

Sorry, including Abati the Ugly Dog.

Wily+Wily:
If Jonathan do heaven and earth to the Yorubas, they will still insult him, only want they want is for him to vacate that office, they are not happy Ijaw man is the president, if Jonathan is corrupt where are we going to place Awolowo, as the finance minister conspired with his Yoruba kinsmen and unleash the worst looting of Nigeria Coffers.
Ok,Jonathan learnt to be corrupt from Awolowo.
Is time Nigeria police and Efcc arrest Awos wife HID and her children, they have to return the money Awolowo Embezzled.
EFCC arrest HID Awolowo now.

I know a number of Igbos and Niger Deltans who also despise the president. Stop limiting it to one tribe.

Malawian: U dey mind them? Be like dem no dey see palm Oil soup drink wella these days. When their egbon dey there for 8 yrs dey theif and missmanage every, we no even hear anything from dem. Just under one year of south south them no want make we hear word again. Na una money them dey chop? When election reach again, we igbo people go still vote jona there. Who wan drink rat poison, make him go ask ara-wolowo which one to take. Stop browning the air for every with una unguarded yarns. Oya go sultan palace go postrate for una master. Fuckers! U dey mind them? Be like dem no dey see palm Oil soup drink wella these days. When their egbon dey there for 8 yrs dey theif and missmanage every, we no even hear anything from dem. Just under one year of south south them no want make we hear word again. Na una money them dey chop? When election reach again, we igbo people go still vote jona there. Who wan drink rat poison, make him go ask ara-wolowo which one to take. Stop browning the air for every with una unguarded yarns. Oya go sultan palace go postrate for una master. Fuckers!

you are an eediot.....u just spew rubbish and thrash outta your mouth.jonathan is by far better than your stupid pple from ur village. go through your bible and read through acts of apostle when he advised never to speak ill of our rulership.....for those of u that spew on GEJ,are you or your generation in any way better?

Cos GEJ is a puny lil bitchh and he sucks raw hairy balls.

The average Nigerian is not much different from GEJ anyways. Weak, stupid, lazy, and foolish.
That doesn't exonerate GEJ anyways. The only people praising him in Nigeria seem to be mostly people of his ilk, who are directly connected to his fortunes. Plus, maybe some people who are from his part of the country and don't live in Nigeria. They can afford the luxury of supporting him, since their lives are intact anyway.

The average South-East or South-South Nigerian who lives in Nigeria, detests GEJ and his government. Just like the average northerner detests IBB, and the average South-Westerner detests OBJ. The three men are all criminals that have played, or continue playing, their ignoble parts in ruining Nigeria. Shikena.