@ davidylan and KunleOshob,
Can you guys and most especially, Davidylan, refrain from vituperations and personal attacks and just reply with well-reasoned and intelligent arguments? Cherry-picking of the so-called inconsistencies is not what is called for but a wholesale rebuff of each argument is what is desired. I am still at a loss as to why the published sayings/teachings of Jesus are asymmetrical from those of Paul since Paul too received divine inspirations from God. Okay, if one on one rebuff might be unnecessary and a drain on your precious time, can you please explain what is meant by

Jesus himself was circumcised (Lk 2:21); but Paul says if we are circumcised we would be estranged from Christ (Gal 5:2-4)

. Is this a testimony that Jesus is not God? Please explain and also try to refrain from abuse and name calling. Let make it an intelligent discussion/argument. Promise.

Man, it is all about fleecing, nothing more.
You asked for help in trying to understand how the pastor can justify the fleecing of the congregation in the name of religion but nobody is willing to bet the cat and tell you the truth. Well the truth is, the action of the pastor is fraud and robbery of the people, pure and simple. People are so confused in their dogma that they can't even use their number six to reason.

This is a quote from KunleBros from Sept.4th

There is nothing contradictory in paul's teachings and the gospel of christ. I would be willing to explain to you further if you genuinely wish to know the truth.

A pastor posted the following on Next online to show that there were contradictions between what Jesus said and what the founder of Christianity, Paul said in the Bible. Can you offer some explanations as to the differences of opinion?
Inconsistencies

Jesus says children of God are born (Jn 3:3); but Paul says they are adopted (Rm 8:23).

Jesus says God must be the only father of believers (Mt 23:9); but Paul says he (Paul) is the father of some believers (Phile 1:10; 1 Cor 4:15).

Jesus says he is the only pastor and the only teacher (Jn 10:16; Mt 23:; but Paul says there are many pastors and teachers (Eph 4:11; 1 Tim 2:7).

Jesus says we should pray in private (Mt 6:5-6); but Paul says we should pray everywhere (1 Tim 2:.

Jesus says we should not eat food sacrificed to idols (Rev 2:14); but Paul says it does not matter if we do (Rm 14:14).

Jesus himself was circumcised (Lk 2:21); but Paul says if we are circumcised we would be estranged from Christ (Gal 5:2-4).

Jesus says we should not receive payment for preaching the gospel (Mt 10:; but Paul says we should (1 Cor 9:11).

Jesus asks us to baptise as we preach the gospel (Mt 28:19); but Paul dismisses the importance of baptism (1 Cor 1:17).

Jesus says lying is of the devil (Jn 8:44); but Paul says God's truth increased through the lies he told (Rm 3:7).

Jesus says the word of God is truth (Jn 7:17); but Paul says the gospel can be preached with falsehood (Php 1:18).

Jesus is against the use of deception (Jn 1:47); but Paul boasts of using deception (2 Cor 12:16).

Jesus says we should love one another (Jn 13:34); but Paul wished some people would be castrated (Gal 5:12).

Jesus says we should love our enemy in order to be like God (Mt 5:44-45); but Paul says we should love our enemy in order to pour coals of fire on his head (Rm 12:20).

Jesus says we should not swear or curse (Mt 5:34-37; Lk 6:28); but Paul swears and curses (2 Cor 1:23; Gal 1:9).

Jesus says God's children don't bear arms and don't fight (Mt 26:52; Jn 18:36); but Paul says God's ministers bear arms and use them (Rm 13:3-4).

Jesus says we should disregard public opinion (Lk 6:26; Jn 15:18-19); but Paul actively courts public opinion (1 Cor 10:33; 1 Cor 9:20-22).

Jesus says he who is acceptable to God will be hated by men (Jn 15:18-19; Lk 16:15); but Paul says he will be approved by men (Rm 14:18).

Jesus says we should seek the kingdom of God and his righteousness (Mt 6:33); but Paul says we should seek glory, honour and immortality (Rm 2:7).

Jesus says the kingdom of God has been taken away from Israel (Mt 21:43); but Paul says all Israel will be saved (Rm 11:26).

Jesus says only a few of those called will be chosen (Mt 22:14); but Paul says all those called will be chosen (Rm 11:29).

Jesus says salvation is by works (Mt 7:21; Mt 21:28-31); but Paul says it is by grace (Eph 2:8-9).

Jesus says he completed his God-given assignment (Jn 17:4; Jn 19:30); but Paul says he completed what Jesus failed to complete (Col 1:24).

Jesus says our trespasses will be forgiven if we forgive others (Mt 6:14-15); but Paul says they have already been forgiven (Eph 1:7).

Jesus says we will be justified by our own words (Mt 12:37); but Paul says we are justified by faith (Rm 3:28).

Jesus says eternal life is very costly (Mt 19:29; Lk 14:28-33); but Paul says it is a free gift (Rm 6:23).

Jesus says God is not the God of the dead (Lk 20:38); but Paul says he is (Rm 14:9).

Jesus says the commandments give life (Mt 19:17); but Paul says they bring death (Rm 7:10).

Jesus says all the commandments are summed up in two commandments (Mt 22:37-40); but Paul says they are summed up in one commandment (Rm 13:9; Gal 5:14).

Jesus says we should beware of anyone who says the day is at hand (Lk 21:; but Paul says the day is at hand (Rm 13:12).

Jesus says Abel, Adam's direct son, was righteous (Mt 23:35); but Paul says all Adam's descendants are unrighteous (Rm 5:12/19; Rm 3:10).

Jesus says none of the Pharisees kept the law (Jn 7:19); but Paul says he kept all the laws of Moses as a Pharisee (Php 3:5-6).

Jesus says we should be like God (Mt 5:48); but Paul says we should be like him (Gal 4:12; Php 3:17).

Whose report do you believe?

I only believe the report of Jesus Christ.

Source: http://234next.com/csp/cms/sites/Next/Home/5441632-146/Whose_report_do_you_believe_.csp
Warning: Attack the message, not the messenger.

THE AMAKA:

you need to floss and thats all i can tell you.
do they have dental floss where you can get some?

Flossing is not part of many a Naija's routine after eating or before going to bed. I am not saying this just to disparage my people but that is the plain truth. I also don't attach any premium to it until I reached the US. And I quite understand where the misconception comes from. If you can't afford one square meal a day, that should be the least of your worries. But there is a nexus between good dental hygene and cardio-vascular health. Doctors says visiting the dentist regularly can help reduce or mitigate the risk of heart disease/failure.

The action if CIBN is belated. Having been removed as the head of Intercontinetal Bank which is the spring board through which he bounced to the platform of the CIBN presidency, he no longer has the moral claim to the exalted office of the president of the institute.
His sack by the CBN has cast a doubt about his professional competency as a banker and has rubbished his reputation among members of the Institute. This has also called to question his moral integrity and ethical principles.

@naijatoday
Your source sounds credible than mine. Thanks for the update.

naijatoday:


They two people Vanguard mentioned were NEVER deputy governors only board members. The federal government is changing the whole board including those that are said to have agreed or disagreed. The only person that is remaining from the board is Tunde Lemo.

Can you quote your source please? Are you aware that two new Deputy governors were appointed to replace the sacked DGs. They are Dr. Kingsley Chiedu Moghalu and Mr. Stephen Oronsaye -  http://www.proshareng.com/news/singleNews.php?id=7349  
Why would two new deputy governors be appointed if the CBN by statute is empowered to have four. Refer to Section 6 of the CBN Act  - http://www.cenbank.org/OUT/PUBLICATIONS/BSD/2007/CBNACT.PDF

biina:

So you are assuming that the question is over how much they owe, and not if the loans were acquired via irregular channels?
If the loans are suspected to be have been granted/maintained outside of due process, the EFCC has the right to investigate the matter and question the affected parties.

I am of the school of thought which thinks that EFCC has no reason going after the bank debtors. The banks make a bad judgment in exercising their financial intermediation functions and they should live with the consequences of their action. Just because 'financial' is a part of their appendage or nomenclature does not translate to an express authority under the EFCC Establishment Act 2004 to lay siege all over Lagos in pursuit of the bank debtors. And the last time I checked, non-performance of a loan is not a crime and neither is it a guarantee for inviting EFCC either. The role of EFCC is clearly spelt out in the EFCC Establishment Act of 2004 and nowhere under section 14 which deals with financial malpractices was reference made to non-performing loans as a crime which the EFCC is empowered to recover.
Yaradua will tell you due process is a term after his heart. But the truth is, he doesn’t believe in it. The EFCC has a role in the country. It is to help rip the Iboris of this world, bribe-takers of slush funds from Halliburton, and their ilks of their ill-gotten wealth. I don't think the present EFCC under the chairmanship of Farida Waziri has discharged this responsibility faithfully to the satisfaction of Nigerians.

For those hailing Sanusi for what he has being doing, maybe it is not yet Uhuru - Maybe the time for hero-worshipping or praise singing has not yet arisen. Maybe it is an ethnic sanitizing of the banks. Just maybe---
The witch cried yesterday and the child is dead today.  Is there any disconnect between this twin events? Maybe yes! Maybe no!  We may not be sure, but can only make some conjectures.  But as they say, there is no smoke without fire. But as the fire subsidizes and the power of the smoke gradually withers, the smokescreen will be gone and everything will become clear again.
The take -over by the banks was first reported as a rumour by Vanguard Newspapers in March 23, 2009.  Some commentators on this thread have countered the position presented by Vanguard Newspapers with that of BusinessDay which also saw the decay in the banking sector as a consequence of the margin loan granted by the banks to speculators in the capital market.  I want to say that the analyses of BusinessDay in February was only meant to serve the warning to all stakeholders in the economy that all is not rosy in the banking sector and in their role as the fifth estate of the realm, draw attention to the rot. Can’t we extrapolate, based on the BusinessDay article, that the Northern hegemony which had never hidden their disdain for the consolidation exercise (because they lost out due to no fault of others but because of their own inaction) would like to capitalize on the situation and use their influence on the presidency to change the ownership of the banks?
Now it is no longer a rumour and the president has appointed a CBN governor of northern extraction. And as if to confirm that the appointment was meant to play out the script written by the Northern hegemony, the CBN governor rather than take time to settle down to study the banking situation, went to work almost immediately to carry out the agenda.  And to further fuel the suspicion, the list of the non-performing debts was compiled as of May, just about the time of the ascendancy of Sanusi as the CBN governor only for them to come out with another press release confirming the errors on the non-performing debt list.
I do not want to believe it, but I have also read in one of the tabloids that CBN is trying to package the five banks for sale to foreign investors. I hope this is not true, because it will be too good to be true and it will confirm the fears of some commentators that the move by the CBN to sack the bank officials is a ruse for ethnic sanitizing of the banks.
Is it not also true that two Deputy Governors that spoke against carrying out the cleansing exercise by the CBN have been removed? Could it be that these former deputies are seen as a threat and clog in the wheels of the agenda?
I will tread on the side of caution because some things don’t seem right and when things are not done the proper way, they leave room for conjectures and questioning of the motives of the executioners. It is not yet time for hero-worshipping.

This is culled from WebMD -
http://blogs.webmd.com/sleep-disorders/2007/01/jennifer-aniston-sleepwalking-again.html
"Consider seeing a sleep specialist and ask about the medication Klonopin". I don't know if there is a sleep specialist in Nigeria but do the net-working and find out.

The Stock Exchange Commision are accessory to the fraud. They failed in their duties to provide oversight as gatekeepers of the activities of the NSE. And, occasionally when they do, as in using executive fiat to place technical suspension of the trading of shares of the five beleaguered banks, they are not allowing market forces free rein to dictate the pricing of the shares in the stock exchange market. The stock market is information driven and interference by SEC rubbishes the market the reputation of being a "perfect" market.

[/quote][quote author=naijatoday link=topic=312947.msg4399494#msg4399494 date=1250918027]
Why would Sanusi care if 1st Bank is the biggest or smallest bank in the country? The guy is not a shareholder in the company.

This is an untruth statement. Please always cross-check your facts before making it public. There is no gain and excuse for misinforming the public at this Internet age when information is available for all if you are painstaking enough to search for it.
The truth is that Sanusi owned 131, 708 shares as of June 25, 2009 in First Bank. In 2008, he held 835, 797 ordinary shares in the bank.  He has no indirect interest as some directors of the bank usually do. You can cross-check this fact by flipping through FBN Plc annual report for the year ended 3/31/2009, page 77 or simply browing the report on the Internet available at this address:

http://www.firstbanknigeria.com/mc/dloads/Annual_Report_2009.pdf

babyrl:

All the CBN published is the name of the companies, and those that signed for the loan on behalf of the company or someone else. Ibori's related company could be on the list, but he might not be the one that signed for the loan.

@ThinkRait.

The bank does not have to liquidate the asset of the company to get their money. All they have to do is take ownership of the company or the shares of the person that borrowed the loan, till the shares handed over to the bank can pay back the loan. This is how it happens around the world, you do not have to liquidate the company. If the bank does not want to own the company, they can sell it to a third party who will pay the bank.

@ThinkRait,

Ibori is the owner of Ascot Offshore Nigeria Ltd and Notore Chemicals.  Notore Chemical was in the news recently as the winner of a #40 billion fertizer contract award from Yaradua's government. See the following links:

http://www.saharareporters.com/index.php?option=com_content&view=article&id=3169:ibori-wins-fgs-n40bn-agric-contract-punch-lagos&catid=1:latest-news&Itemid=18

http://www.saharareporters.com/index.php?option=com_content&view=article&id=3504:details-of-how-james-ibori-used-fronts-and-bank-officials-to-bankrupt-oceanic-and-intercontinental-bank-&catid=42:exclusive&Itemid=160

pcicero:

@abeem
Of course how can Wigwe and Aig Imokhuede be listed as Directors of United African Company without Larry Etah? Anyway, we know their own United Alliance Company. The question still remains why should they take from Intercontinental Bank and refuse to pay back. Don't they know what N16 billion means to the balance sheet of a bank?
Now, they would be dancing that their own bank Access was spared. Or was the money shared between them and Erastus? EFCC what are you waiting for? I'll like to see all those people on the list in your gulag

I have left Nigeria for a long time so I will not be able to give you the exact law that addresses the question you posed. But if my intelligence has not failed me, I think it is the BOFID of 1990 (Banks and Other Financial Institutions Decree) re-christened BOFIA (Banks and Other Financial Institutions Act Section 17 (1)(a-c) that forbade directors of a bank from being direct beneficiaries of a loan created by the bank where they are managers.
So as you can see, it is a matter of playing safe and not doing something to contravene the law that can lead to criminal prosecution of the Access helmsmen. I will be surprised if Access bank has not done similar favor to other bank directors though.

There are several tell-tale signs that give the signal that a debt might become difficult to recover. Maturing obligations i.e. interest payment and principal repayment not being met as and when due; Evasiveness of the debtor in providing documents necessary to perfect the collateral (if one was obtained to secure the lending) etc,. Some banks are however slow to call-in the lending even when the signs are clear for them to see. Sometimes, it might be due to pressure from politicians (as in the days of yore when the Federal Government owns majority shares in the banks and wielded power to appoint and remove Directors of the bank). With privatization, this fear should be unfounded, you will think so. Not so. The directors of a privatized bank are also beholden/ answerable to those who have controlling shares in the banks and may decide their fate if they refuse to play ball.

There are some names on the list that a prudent banker should be wary of before granting them facilities. Bank usually sent out references to other banks to obtain confidential information on potential credit customers. I can tell from the list that some are credit risks ab-initio from my past experience in the Nigerian banking system. It suggests that loans granted to them will be irrecoverable or to be diplomatic, difficult to recover from their antecedents. Names like Arisekola Alao, does not inspire confidence. What manner of entrepreneurial skills does he possess that he will bring to the table on Oil and Gas exploration? I don’t know. The money will be spent on amala and ewedu to cater to the needs of the indigents in Ibadan. That is dead on arrival as some people will say.

Going forward, banks must attempt to find a better way of assessing or rating current and potential customers based on their risk factor. That is the only thing that can bring sanity to the system.

In reviewing the list of the hardcore debtors released by the apex bank, I found out that some of the debtors or the directors of the debtor companies are indebted to more than one bank viz: Transcorp, Obat Petroleum, Petosan Property, Ikeja Hotel Plc, Falcon Securities, etc. There is nothing wrong with this as banks always arrange for consortium lending in a situation where they do not want to be over-exposed or the ratio of their lending to the particular sector vis-a-vis total lending will be too much as to contravene the CBN policy guidelines. To cover their exposures banks do rely on debentures, legal mortgages or other forms of collateral to secure their exposure. Of course this is in an ideal situation of a well structured loan that the repayment is expected to come from acceptable and verifiable sources.

aieromon:

@Sagamite
It was UAC Nigeria that borrowed the money.Maybe AIG and Wigwe stood as sureties or have a hand in the affairs of UACN

Dont confuse United African Company, PLC with United Alliance Company of Nigeria Ltd. The former is a public limited company quoted on the stock exchange; the latter is a private company of which AIG Imoukhuede and Herbert Wigwe are its Directors.
Before a company can borrow money from the bank, the borrowing must be authorized by the board of directors. A board resolution is mandatory. In addition, the directors are to provide a guarantee to the bank to secure the borrowing. If there are more than one directors in the company, they are expected to sign a joint and several gurantee which will make the directors to be jointly and severally liable for the debt of the company.
The interesting thing about a joint and several guarantee is that the bank can go after each of the directors individually to recover the debt owed it.

axeman85:

safariman

every big loan in nigeria banks is fraudlently issued becos even the loan officers that approve the loans also according to a source, take a percentage from the borrower. dont knw if this is true or not. each bank should have its own recovery department, and also should have external agencies who should be able to recover the loans on their behalf.

all banks in developed countries be it uk, america. all have recovery departments, external companies who recover debts on the behalf .

Those that call Yaradua clueless, for sure, know what they are talking about. The man is clueless in the right sense of the word because he continues to display his ignorance in every aspect of governance.
As you rightly pointed out each bank has a collection department that goes after the recalcitrant and intransigence borrowers. And where their efforts meet a road block, they can always farm out the collection to outside collection agencies to help recover the hardcore loans.
I do not think you have to work in the bank to know this. Besides, he (Mr. Yaraclueless) has been around for more than 50 years to know the basic banking procedures.
The collection should be left to the banks to carry out. If they lack adequate manpower to go after the debtors, they could use the help of outside collection firms to recover the loans for them. That will ensure more employment for folks who are presently unemployed.
The police have their responsibilities and functions under the constitution. It is to secure the lives and properties of the citizens. Asking the police or other security agencies to go after the debtor will create a void in the provision of security for the people. The IG has complained for the umpteenth time that his men are doing jobs for which they are not statutorily empowered to do. Mr. Yaradua should help the IG to succeed in his job.

I am sorry for Oyo State people, myself inclusive, because I am from the State. I read from Nigerian Tribune of last Sunday 16/8/2009 that PDP has endorsed him for the second term. Since there is not going to be a free and fair election in the country, the looting the treasury will reach a higher level in his second coming (God forbid).

Donmeca:

This may be true but I sincerely hope Sanusi is not fighting FBN's course. let's not 4get dat during his days in FBN, he had been up against major competitors, two of these five inclusive. may this be d antidote the Nigerian baking industry needs restore d much needed sanity.

Sanusi held sway as the helmsman at FBN for less than 1 year, so what manner of competition are you talking about.

It may be scary, but how do you guarantee that they will not repeat the offence. Those expressing outrage/umbrage at American Justice System and having a feeling of empathy for the sexual offenders are saying so because you guys are not privy to the crimes committed by the imbeciles.
Sexual predators are sometimes callous murderers and their victims in many cases are defenseless children who they maim before killing.
Maybe they should be castrated if they want to live in areas where law abiding people reside.

There is nothing wrong with the word. Although, it is more of a slang but the circumstance it was used helped to press home the meaning that the government of Yaraclueless was extremely angry or upset with the US.

The history of Juju Music will not be complete without the mention of the heroic feat of KSA in transforming it to international heights. The story of KSA did not start from June 2009 when he was given the appointment/award by OAU. It started way back in the late 50’s and early 60’s when a determined young boy decided he was going to face life and what it throws on his way headlong. With an iron will backed by faith, desire, and determination to succeed, he did not waver nor look back. And the result of that determination to succeed at all cost as well as the zeal to excel in his chosen profession has enamored the King to the men at the ivory tower at OAU to tap into his rich reservoir of musical talents and dexterity in playing the guitar.
There are people, who do not like others to be successful. It pains them when they hear the success story of someone else notwithstanding the fact that the success comes by dint of hard work. I have read the commentaries of those who have expressed discomfort/dissatisfaction at the feat of KSA; it is their nature to be unhappy at other’s success. We leave them to their perfidious and guile traits. However, it is better to move to the cohort of happy people because happiness promotes healthy living.
To those who aspire to success, KSA is worthy of emulation. KSA personifies the spirit of can-do, and we can learn that success is achievable where there is faith, the desire and determination to succeed. Failure should not be a deterrent. If we fail, we should try until we achieve our aim. The story was told of a man who bought a Dictionary and the first thing he does with it was to rip the page containing the word “failure” from his dictionary.
Congrats KSA. More grease to your elbow.

Those bums living under the bridge brought that detestable lifestyle - homelessness, upon themselves. Nobody should blame the American Society for their woes. It was a free choice they willingly made by failing to exercise self-restraint on the matter of sex. Let me explain.
American society is an ultra conservative society. Nobody should be carried away by the popular saying that America is a land of freedom. It is freedom within the boundary of law. If anyone transgresses the law, he will found America justice system swift to punish the transgression.
What has this got to do with the bums? Well, in Florida, there is a law passed by the State Legislatures (now replicated in most of the remaining 49 States of the US) to punish sex offenders when caught with jail sentence of a minimum of 25 years. In addition, convicted offenders must register with the State. The registration is then transferred to a federal database of convicted sex offenders. Those guys inhabiting under the bridge have found out that nobody will rent out apartment to them because of their sexual escapades of the past. The database is accessible to landlords who are obliged to check out the federal database to found out if a prospective tenant is a convicted sexual offender in addition to credit references about their finances. The result is that nobody will risk renting out apartments to the bums and they end up living under the bridge.

What type of toilet is the yeye man building? How will the toilets be operated without regular supply of water 24/7? Or is the man building the pit system for that huge sum of money?

Kobojunkie:

isn't he yar aduas son in laW?

No. The governor is Yaraclueless's son-in-law.

http://www.saharareporters.com/index.php?option=com_content&view=article&id=3076:yaraduas-family-greed-photo-essay&catid=1:latest-news&Itemid=18

These people by commission or omission are responsible for our backwardness and the unfortunate thing is that they have a large followership that is more or less docile. The followership will accept their words as law and swallow it hook, line and sinker. They never question the wisdom behind what they say.
How can somebody in his senses say that prayer is the antidote to cleaning the rot that is the Ajaokuta Steel Rolling Mill? Where was he when the Steel Mill was being pilfered and dismantled by the 'do or die politicians"? To be sure, we all need spiritual cleansing and the country is in need of much of it, but prayer should come after the building blocks of reconstruction, re-engineering and re-organization of the Mill have been put in place.
This simply reinforces the fact that Nigerians are always looking for easy way out. Hard work should not be sacrificed at the altar of prayer. Teacher, don't teach me non-sense.

Abdulsalam is a big-time crook and I am not just saying it for the fun of it. Notwitstanding that he has been invited by the Okiro panel, it is highly unlikely that something positive will come out of the probe, not with the calibre of people that Yaradua grouped together to fish out the bribe-takers - people who are themselves big-time bribe takers (Mike Okiro, Mike Andoakaa and Farida Waziri). They are people of little or no integrity as far as I am concerned. But it will be the dawn of a new era for the country and a big public relation stunt for the government if they end up with an indictment of the corrupt ones.
Here is a refresher about the corrupt activities of Abdulsalam while he held sway as head of state - just for one year. Culled from "Strange Things Have Happened In Nigeria" By Abiodun Ladepo. Enjoy.

Gen. Sabo also alleged massive financial misdeeds by the Abdulkareem Abubakar government, saying:
"Before General Sani Abacha’s death there were bickerings from people including General Abdulsalami Abubakar that they were not being given any welfare. General Abubakar accused the service chiefs that they were the ones that had the resources but he did not have anything there was a time he asked Ambassador Zackary Ibrahim to give him N1 million urgently but Ambassador Ibrahim said he didn’t have the money. And when Gen Abdulsalami Abubakar became the head of state, he was relieved of his appointment.

"When General Abdulsalami came to power, he exhibited an accumulated and accentuated thirst for money. I stumbled on some documents and video cassettes even while in retirement.

"There was the case of $40 million contributed by multinationals for General Sani Abacha’s transmutation to civilian president. I gave the cassette of his disclosure to help him clean the system not knowing that he would use it to clean me out of the system because three days later I was arrested. I urge the commission to investigate this money contributed by multinational towards Abacha’s self-succession.

"There was also the case of Engineer Bubal Galatia, Director of NMA whom General Abdulsalami Abubakar directed to release N5 billion from the NMA to the minister through Chief Hope Ozodinma. But Galadima refused saying it was beyond his power to do so. That same afternoon, a lorry load of soldiers invaded his house managed him and took him to an unknown destination. He was ordered to put in his letter of resignation so as to look as if he resigned voluntarily but he refused and asked General Abubakar to fire him. He was fired and he was given two hours to vacate his official quarters.

"The N5 billion was to be shared like this: "1.35 to be given to the minister, Chief Hope would be given N265 million and $18 million would be given to General Abubakar. I have documents to prove this (He than tendered the documents).

"There is the issue of the printing of new naira denominations, of 100, 200 and 500. I shared Mustapha’s opinions on this which he explained in his testimony that it was a booby trap for President Olusegun Obasanjo to fail. I have 13 documents to prove this which I shall tender, before this commission.
"When General Abacha was alive the idea of the printing of new naira denominations was mooted. Three companies bided for the contract - J.B. of Munich; Thomas & Co. Of London, and Bodous of Germany. They all submitted their quotations. They all agreed on $30 per one thousand pieces but General Abacha said it was too much. The agreement was not sealed before his death. When General Abdulsalami came on board, he said it should be printed at $45 per thousand. G & D was given the contract of printing and here was the company reputed for tax evasion. The company has offices in Germany, Greece, Spain, Belgium, Argentina and other places, but only has a liaison office in Nigeria. The company evaded tax to the tune of 2 million Dutch marks in Germany. This is the same company given the job to print the money I commenced investigations into the activities of this company but General Abubakar ordered me to stop it. All these were known to him.

"The NTA in its news at 7 and 9 p.m. on January 11, 2001 reported that a container load of fake naira notes was discovered in Jos and Maiduguri. This is what I am talking about.

"During Abdulsalami’s time, our soldiers in ECOMOG were not treated well at all. General Victor Malu then ECOMOG Commander once had cause to complain of adulterated fuel sent to them. When the contract for the supply of food to our soldiers was changed, it was given to one lady; I will mention her name later.
When General Abacha was alive 45 dollars was approved a day for each of our soldiers but when Gen. Abubakar came to power he increased it. But instead of giving them the money, they were given the old rate, where is the balance?

"There is the issue of parting gift to each PRC member. N1 million was agreed as parting gift for each PRC member or 500,000 dollars. I inquired from two PRC members later differently. I asked them jokingly that I learnt you were all given ½ a million dollars as parting gift. Where is my own share now? But they told me it was only 50,000 dollars. So what happened to the remaining 450,000 dollars per each PRC member times the total PRC members?

Before General Abacha died, he left a foreign reserve of 9.7 billion dollars. There are papers to show this. But Abubakar claimed that only 7.17 billion dollars was left in the reserve what happened to the balance? This reserve that Abacha accumulated in five years, Abdulsalami depleted if in nine months.

"Eagle Square here in Abuja was being renovated yearly when General Oseni was FCT Minister. Consultants were appointed for the renovation at N230 million. But General Abdulsalami rejected this and opted for upward review of N2.3 billion as against N230m.

"Also through 59 million dollars he siphoned from government coffers he bought a house in London at 5 million pounds renovated it at 1 million pounds.
"Before General Abacha died he approved 66 million Dutch marks for the maintenance of Alpha jets and other aircraft. When Abubakar took over he wrote another memo for the sum of 44,275,000 dollars for the same maintenance. I would have wished he was here to cross check if this signature on these documents were his.

"There was also another memo from the CGS dated March 17 1999 at the injury time of the administration. There was request for the purchase of boats at 45 million dollars, purchase of amphibious plane at 21,747,660 dollars; and 5,000 rain coats jacket to cost 14,500,00 dollars. The normal cost of one rain coat to pocket were from rain is 45 dollar per piece and the total cost for the 5,000 rain coats should be 2,9000 dollars. It was signed by General Abdulsalami Abubakar to be purchased on ECOMOG issue, apart from the naval personnel that used to transport the food items, it was later given to merchant ships.

"There is the issue of Engineer Ibrahim Ali, MD of NPA. General Abubakar called him one day and told him since General Abacha did not give you free hand to do your duties, bring your quotation and I will give you the wherewithal to execute it. He brought it to Abdulsalami. He met Alhaji Gidado Idris, former Secretary to the Federation there. Abdulsalami approved it for execution but when Ali left Abdulsalami ordered Gidado Idris to fire Ali when Gidado wanted
to refuse, he told him that if he didn’t do it somebody else would do it and that was how he was fired.

Shinttien: What did all these mean with respect to Chief Abiola’s security.
Sabo: All these were to show that as Chief Abiola was to show that as Chief Abiola was in the custody of Abdulsalami, if Abiola was released, he would be demanding for his mandate and this will be unconducive for him to loot the country’s treasury. General Abubakar should appear before this commission to explain ,what happens to the depletion of the economy.
General Abdulsalami Abubakar set a booby trap for Obasanjo’s administration, I am not saying this to curry favour from President Obasanjo. Let us not deal only on the past of the late head of state.
Shinttien: In what other way to your knowledge has the General Abdulsalami Abubakar reduced the military to what it is now.
Sabo: Another way which General Abdulsalami siphoned money is the task force for the armed forces and the police.
On December 31 1997, N21, 270, 292,50 was disbursed to the armed forces and the police, I am not convinced the money was used judiciously, I have documents to authenticate this.

There is also the issue of N80m water project which was discarded by General Abdulsalami. He re-awarded it for 20 million dollars while 10m dollars was collected upfront. I am sure the balance was also given. I am not sure whether the water project was executed.]]
Again, I did not write the above. I copied it from the Vanguard of 20 July, 2001. But because we, as a people afflicted with amnesia, have conveniently forgotten this very recent history; because the people now enjoying the so-called dividends of democracy - not the poor, ordinary Nigerians now living in near-servitude in their own country, but the elected officials - have consigned to the waste bin of history the sacrifices of people who gave their lives to wrest democracy from the stranglehold of the likes of Babangida, Abacha and Abubakar, I chose to re-publish this emotive testimony.

jamace:

House, I am getting convinced that something will begin to happen to crooks of whatever status in Nigeria any moment from now. I can't really explain where the power of conviction is coming from but I see a change coming. I'm not joking. I mean it. There is time for everything under the sun.
Just watch.

I don't share your optimism. It is possible for me to have a change of mind if crooks like Mike Kase Andoakaa the most corrupt Attorney General in the whole Universe is replaced (remember he is a member of the committe looking into the Harlibuton case) and the court cases against the corrupt governors especially Ibori) is prosecuted to a logical conclusion.

SegzyJoe:

@Abeem & Co travellers
Is it the church's fault that companies are closing shops? Would you have loved those closed warehouse to grow weeds with nobody occupying them? Does a warehouse growing weeds because there is no company to rent or acquire it profits the owner? Or are the churches taking over these warehouses for free? Aren't they paying for usage of these warehouses? If a company packed out of your warehouse, won't you be glad if a church take it over and pay your rent rather than leaving the place idle?

Sometimes, the human mind is so mischievious and hypocritical that the gullible minded could be easily decieved. Am sure it is not the rate at which companies are folding up that is your concern rather you hide your hatred for the church under your "pretentious concern" for the state of Nigerian economy.

I know you may be a sceptical christian or a non-christian for that matter, but rather than confronting the fact that the church is fast growing in Nigeria, you choose to tie your hypocrisy at the stake of the state of the economy.

I think you re a coward, you should have been courageuos enough to argue your point against the church rather than welling up emotions and sentiments to present a case to undiscerning public.

I have noticed this trend on Nairaland, giving the dog a bad name to hang it, unfortunately most people fall for this bait. It's a shame.

This is an educational forum and we can all benefit (without attacking each other) from diverse opinions because nobody has a monopoly of knowledge. Please present your argument in a sensible and intelligent manner and don't insult others whose views are different from yours.

I would argue the trend is an ill wind that blows us no good. It is a bad omen. But Churches are not to blame.
Under the present economic reality in the country, no industry can thrive. Power supply is epileptic; energy is more of a curse than a blessing as it is not always available; the road network is still in a dilapidated state in spite of the billions of naira sunk into it yearly. Is it then a surprise that industries are closing down and warehouses up for grabs by Churches?
In the last year or two, Michelin Motor Services closed down and moved to neighboring Benin (if my memory serves me right) because the cost of doing business has risen out of proportions that it only make sense to close down the factory due to high cost of energy and power to run their plants. At the last AGM of Dunlop (held in Dec 2008) the company sounded a notice to shareholders that it will be closing its plant. Why? The company can no longer operate as a going concern due to high cost of energy, the foot dragging of the Federal government to address the problem, and the influx of imported tires (through smuggling and otherwise).