₦airaland Forum

seguno2:
The gods of men are serving mammon while pretending to serve God.
What a pity for the sheeple who follow them blindly instead of reading their own Bible.

Paperwhite:
Absolutely a very monumental fraud after all none of the refineries have ever been working in full capacity.

chloride6:
Do you even read the article at all?

agwom:
Minister of Finance Mrs Kemi Adeosun unearthed a previous petition against Mounir Gwarzo and suspended him as Director General of the Securities and Exchange Commission [SEC] because he demanded to be served in writing with her order to stop SEC’s forensic audit of Oando Plc, Daily Trust learnt from informed sources and official documents in Abuja yesterday. Adeosun, who said she was giving the order in her capacity as the Board of SEC, implied that it was President Muhammadu Buhari who wanted the Oando inquiry stopped because she said the president did not give her orders in writing. When Gwarzo insisted on a written order, the Finance Minister said he too had a petition written against him and that she would suspend him in order to allow for a full investigation.

The straw that broke the camel’s back was a November 27, 2017 letter that SEC’s Head of Legal Department wrote to Oando’s Group Chief Executive Officer Mr. Adewale Tinubu, cousin of APC National Leader Asiwaju Bola Tinubu. SEC informed Tinubu that it had appointed five firms including Akintola Williams Deloitte, United Securities, Nasiru Muhammad and Co, SPA Ajibade and TJADAF Consulting and Associates to undertake a forensic audit into the oil firm’s affairs. The audit, among others, is to determine Oando’s financial health, determine if there was insider trading in the company’s stock in 2013-15, determining the accuracy of its shareholding records and review its assets disposals and the purchasing parties, among others.

According to the documents that Daily Trust obtained, trouble for Oando began when SEC received petitions from Ansbury Investments and Dahiru Barau Mangal alleging going concern of Oando, insider dealings, acquisitions of subsidiaries without SEC approval, misstatements in the company’s audited financial statements, declaration of dividends from unrealised profits, violation of SEC rules on remittance of dividends to registrars, related party transactions and discrepancies in Oando’s shareholding structure, among others. After its initial findings, SEC ordered a forensic audit and ordered the Nigeria Stock Exchange to suspend trading in Oando’s shares. The oil firm went to court on October 24 to try to stop both the forensic audit and suspension of trading in its shares but a Lagos Federal High Court judge threw out the case on November 23.

A day later, on November 24, according to the documents, top Finance Ministry officials led by the permanent secretary met with the SEC DG and approved that the forensic audit of Oando should go ahead. Three days later however, on November 27, Minister of Finance Adeosun summoned Gwarzo to her office and ordered him to discontinue the forensic audit of Oando. Instead, she said SEC should impose a penalty on Oando. Mounir Gwarzo demanded that the Board order be given to him in writing. He also wrote a memo to the minister the next day, November 28 highlighting the dangers of discontinuing the probe of Oando, which he said would render SEC impotent in dealing with all transgressions in the securities sector. It was at this point that Adeosun resurrected a petition and suspended Gwarzo from office pending a probe of the allegations against him.

Daily Trust also examined several documents to do with the allegations against Gwarzo. Permanent Secretary in the Finance Ministry Mahmoud Isa Dutse had on November 3, 2017 served Gwarzo with a query regarding the allegations. They include that SEC paid him N104m severance package at the end of his tenure as SEC executive commissioner even though he remained in SEC’s service as director general; that he is a director in Medusa Ltd despite being a public officer and that he awarded contracts to the same firm as DG of SEC. The petition also alleged that Gwarzo recruited staff without following proper procedure and that he received kickbacks from contractors.

In his reply dated November 5, Gwarzo said he quit his directorship of the family firm Medusa in 2013 when he went to SEC, that Medusa never got any contract from SEC during his tenure, that he followed all due process in recruiting staff and that he never collected kickbacks from contractors. Gwarzo however admitted that he collected the severance pay for his earlier service as Executive Commissioner, Operations based on a SEC Board decision of July 2002. A committee made up of SEC’s heads of legal, human resources, finance and procurement had last March determined that Gwarzo was entitled to the severance pay based on the wording of the Board decision of July 2002. SEC’s Executive Commissioner Corporate Services and Executive Commissioner Legal and Enforcement made the same interpretation in 2015 before Gwarzo was paid. They however recommended that in future the Board should amend the resolution so that only officers that exit SEC completely should be paid. They said the Board did not envisage a situation whereby an Executive Commissioner could become the director general.

An informed source told Daily Trust yesterday that it remains to be seen if the Acting Director General of SEC, to whom Gwarzo handed over the commission’s affairs last week, would now stop the forensic audit of Oando Plc and instead impose a penalty as Mrs. Adeosun is demanding, allegedly at the behest of the President. The source, who is a capital market insider, said this promises to be one of the biggest scandals in Nigeria because it would render a powerful regulator toothless. He said SEC had previously probed and punished many quoted companies for similar infractions and that if Oando gets away with a slap on the wrist, SEC would have no moral authority to deal with similar infractions in the future.

Adviser, Media, Mr Oluyinka Akintunde the minister said Mr Gwarzo was suspended for flagrantly violating the Public Service Rules and to allow for unhindered investigation of some allegations made against him by an Administrative Panel of Inquiry.

“The Administrative Panel of Inquiry was set up by the Honourable Minister of Finance, Mrs. Kemi Adeosun to look into the allegations of payment of severance package of over N104 million to himself and award of contracts to companies he is related to, which results on conflict of interest.”

He said Minister has never interfered in the operations of the agencies under the Ministry of Finance.

https://dailytrust.com.ng/scandal-adeosun-suspended-gwarzo-for-not-stopping-oando-forensic-audit.html

Duru009:
So, Bola Tinubu didn't want his company to be audited by SEC because he was the one that recommended Adesoun.......
Corruption in high places!

Atikulate01:
By 2018 everyone will run under the umbrella.... Atikulating... We patiently wait to ChangeTheChange Atikulately

ZAWs:
All these hungry unknown ex garbage chairmen are nobody in the APC camp.
So he should go.
If atiku is the consensus PDP candidate , then APC needs no worries.
Atiku is never a match for PMB
Booknark here

sassy247:
you guys just dey waist una time. Buhari or no one else.

janellemonae:
Lol! If tinubu is smart, he will just lay low and ride this out. Him and atiku are friends. Dont think he will ever come out and diss him.
Ecspecially since they agree on restructuring. The competition will probably push buhari to come up wt his own restructuring plan fast, before the elections. Its a winwin situation.

Jombojombo:
Exactly! All hands must be on deck
Buhari is a mistake that must be corrected

GoroTango:
From his politics. Orwell was an anarchist, go and find out who anarchists are

LudaChriz:
Nobody can be worst than Buhari
Whatever the case is, Nigeria at this point need a nation builder, one who is loved by all. This is an attribute Buhari can never have

Wiseandtrue:
Hell rufai only knows about problems but no solution.
Dwarf!

Oluwabusobomi:
The end of the evil party is near!

GoroTango:
Please take down that meme. George Orwell never said that

lazygal:
I really love reading your opinions but now a days they are not objective ...I don't like bihari government or feel he is The "messiah" but take it or leave it bh attacks have to a large extent been curtailed

sapele914:
Another trivia question who was the 1st president to pardon 2 party members at the same time for stealing,alamsyeismesa and Bode George?

#Mainagate: Maina Received His Salary And Treated At Least 20 Files In October After Buhari Ordered His Sack -Lawyer

Maina's Request For Reinstatement Was Work In Progress claims AGF Malami
NOV 23, 2017

he Attorney General of the Federation, Abubakar Malami , Head of Service of Federation , Winifred Oyo-Ita , Minister of Interior , Abdulrahman Danbazzau and Acting Chairman of the Federal Civil Service Commission, Joseph Oluremi Akande have all denied their involvement in reinstatement of the former head of the Presidential Task Force on Pension Reforms, Abdulrasheed Maina.

They made this denial while giving their statements under oath before the House of Representatives Adhoc Committee Investigative Hearing on the disappearance, reappearance, and promotion of Maina at National Assembly in Abuja.

More from: http://saharareporters.com/2017/11/23/mainagate-maina-received-his-salary-and-treated-least-20-files-october-after-buhari

Bari22:
Tell that to Atiku your new Messiah
The true legend is the one who stay and fight for his people not one who ran away leaving his people in the middle of war

sapele914:
No need to keep going back and forth with a loser like you, President Buhari is the Numero Uno Citizen if you don't like it find a nice italian belt and the nearest tree trunk and the rest is up to you. Adieus Amigo.

urboy1:
Kachikwu dey write sha.. but even within the ministry, 97% 5% is showing itself.. this is appaling


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chiefbidemi:
who do you think is feeding who?

liljboy:
It’s okay to marry a woman old enough to be your mother, you can still explain that as love, but someone old enough to be your grandmother?



www.nairaland.com/attachments/4914275_df_jpeg373e55dea7e43f08e80004f94f67a4a7

sapele914:
It seems you either have selective or a myopic memory or both?Trivia question which ex president once said on national tv,I don't give a damn I won't declare my assets.

egin:
Source http://pointblanknews.com/

Vice President Jonathan Bows To Pressure, Declares N.2Billion In Assets



VP Goodluck Jonathan 
The Vice president Goodluck Jonathan yesterday capitulated to public pressure over the public declaration of his assets as done by his boss, President Umaru Yaradua as he made public his assets declaration to the Code of Conduct Bureau.

The assets which were made public by the senior Special Assistant to the Vice president on Media and Public Affairs, Ima Niboro indicates that the value of the Vice president total assets and cash in banks stands at N295,304,420.

This is about N561, 148,472 less than the assets declare by President Umaru Yar’Adua who declared his total assets to be at the value of N856,452,892.

Mr. Iniboro said the vice president’s decision to make public his assets declaration was to show that ‘there is nothing to hide’.

He added that the vice president is ‘a firm believer in the rule of law and this has guided his conduct in office through the years.

“It is this belief that also guided his position that having declared his assets for a total of seven times, there was no point in going further to publish the declaration” he noted

The vice president’s aide regretted that the position of the vice president not to make public his assets declaration had ‘generated an unfortunate storm, which is not only distractive but also quite unnecessary. We are worried that some newspapers and citizens we hold in high esteem have joined the fray.

“This merely shows that in the affairs of man, there comes a time when even the law must take a second place and the public mood must define our actions. To The Vice president, this is such a time, hence the choice to send you a copy of his declaration for publication” he said.

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In the assets declaration made public yesterday, it indicated that the vice president submitted his assets declaration before Justice Muktar Dodo of the Abuja high court on 30th May 2007, a day after the oath of office and oath of allegiance was administered on him.

A break down of the assets of the vice president indicates that he has four buildings located in Yenegoa, Abuja and his home town in Ogbia, Bayelsa state.

The Vice president said he owns a five bedroom Duplex in Gwarimpa 11, Abuja which was acquired in 2003 through loan and is valued at N24,990,000 while another Seven Bedroom Duplex, which he described as Village personal Home is located at Otuoke in Ogbia Local government area of Bayelsa state. It is valued at the cost of N18,000, 000 and was acquired through ‘savings and gifts in Kind.

The last of the Vice president’s residential buildings are the Four bedroom Duplex acquired in 2003 through ‘savings and gift in Kind’ in the Kpansia area of Yenegoa. The value of the building, he said is N15,000,000. The last Building is the extended Family house in Yenegoa which he said is a four flat storey Building acquired between 2003 and 2007 through savings. The value of the property is put at N10,000,000.

Under vacant and undeveloped plots, the vice president stated as follows: 1032.50 square meter of land located at Onopa Yenegoa and valued at N3,098.00. Plot 2C, 374 Low density Area Yenegoa allocated by the bayelsa state government and valued at N150,000. 2760.00 square meter plot at cadastral Zone BO2, Durumi, Abuja allocated by the federal Capital Development Authority and valued at N5,578,540. One Parcel of farm Land at Otuoke Ogbia acquired through inheritance and estimated at the value of N50,000,000.

Plot Medium Density in Yenegoa allocated by the Federal Ministry of Works and housing the value of which he said is N1550.00

Plot 29, Low density Area Plot in Yenegoa allocated by the Bayelsa state government the value of which is put at N4,908. While the last undeveloped plot owned by the vice president is plot 2246 Cadastral Zone A06, Abuja the value of which he put at N4, 800,000. It was allocated by the Federal Capital development Authority, FCDA

The Vice president’s investment in stocks which is being managed by City Code Investment Company is as follows.

S/No Name of Stock Number Of Shares Value As At 5/25/07
1 CADBURY PLC 8,666 N264,313
2 FLOUR MILLS PLC 8,466 N635,119.32
3 GUINESS NIG. PLC 6,395 N796,177.50
4 UNILEVER 18,750 N337,500
5 UNION BANK OF NIG. PLC 23,466 N727,446
6 FIDELITY BANK PLC 33,333 N296,663.70
7 UBA PLC 180,000 N6,838,200
8 ACCESS BANK PLC 84,656 N1,635,553.92
9 CADBURY PLC 2,500 N76,250
10 UNION BANK PLC 716,109 N22,199,379
11 FIRST BANK PLC 20,000 N808,000
12 FLOUR MILLS PLC 13,333 N1,000,241.66
13 NIGERIAN BREWERIES PLC 10,000 N363,000
14 BANK PHB PLC 866,666 N24,959,980.80
15 OANDO 15,125 N1,134,375
TOTAL 2,007,465 N62,072,200
Other investments include 4nos passenger boats for hiring which is valued at N5, 260,000. While the total cash in Nigerian banks being personal saving of salaries/allowances and income from his investments stands at N58, 984,123.

The vice president house holds utensils including generators, a BMW car valued at N15, 800,000, which he said was a gift; air conditioners, furniture, electronics and kitchen utensils is valued at N41,800,000.

Alariiwo:
If only you had a working brain, you'll understand that nowhere is safe in the world.
Terrorists are multiplying by the day, UK, US, France etc. experience similar attacks.
I only blame that fool from otueke that took the issue as politics. The good for nothing animal was budgeting huge sums for security but they all end up in Dasuki, Dame Patience and other thieves accounts.
They didn't kit up our soldiers but expect them to fight terrorists while some Eastern backbone use security funds to enjoy in Amelica. God will deal with everyone of you.

2016 Budget: Buhari to spend more on State House Clinic than on all federal teaching hospitals
February 2, 2016

More from: http://www.premiumtimesng.com/news/headlines/197827-2016-budget-buhari-to-spend-more-on-state-house-clinic-than-on-all-federal-teaching-hospitals.html

Drug scarcity hits Aso Rock clinic despite N3.87bn budget
August 18, 2016


More from: http://punchng.com/drug-scarcity-hits-aso-rock-clinic-despite-n3-87bn-budget/

Muhammadu Buhari under fire for seeking medical treatment in UK
7 June 2016

More from: https://www.theguardian.com/world/2016/jun/07/muhammadu-buhari-nigeria-ear-infection-medical-treatment-uk

PrecisionFx:
After buhari halted the bridge construction for 2 and ½ years.
This man doesn't know the igbos at all.

Splashme:
The first civilian governor of Lagos State, Alhaji Lateef Jakande, on Tuesday, said that the cancellation of the Lagos metroline project in 1985 was a major mistake and disservice to many Nigerians.

Jakande spoke in Lagos during the launch of a book which chronicled his life in politics and journalism.

The book, entitled, ‘Jakande: Leadership in Action’ is written by Dr. Bola Olaosebikan, who told the audience at the event that the All Progressives Congress presidential candidate, Maj. Gen. Muhammadu Buhari (retd.), was not responsible for the cancellation of the project.

Jakande said, “Reflecting on the metroline project, I think it is a major disservice to many Nigerians. Imagine how many people would have benefitted. It would have made life easier and changed the face of transport in Lagos. Whoever cancelled it or gave the advice towards its cancellation didn’t do right.”

The former governor asked Nigerians not to vote for unserious leaders in the coming polls, saying the elections presented Nigerians with a good opportunity that should not be squandered.

Expressing the hope that Nigeria would soon overcome its developmental challenges, Jakande said hope would be actualised faster if credible people emerged as leaders in the next dispensation.

He said, “This book comes at a very auspicious time in Nigeria’s history as we need leaders who can act. We need leaders who would not compromise the standards of good governance. God has blessed this nation the most in Africa, although we have not reached where we should be; with the right leaders, Nigeria would overcome its challenges.”


http://www.punchng.com/news/cancelling-metroline-a-major-mistake-jakande/

zoedew:
A man trained and paid at public expense to watch what was being transported in and out of Nigeria who gets involved in private transportation business on the same route opens himself up to conflict of interests in the discharge of his duties. Such conduct is not only contrary to the General Orders of the Public Service which forbids a public servant from involvement in profit-oriented endeavors other than agriculture it is also unpatriotic, fraudulent, deceitful and most dishonest. Is that what he commends to the youth as “entrepreneurship”? By his own admission Atiku has been busy at dishonest conduct as a public official since 1971 and sees nothing unethical and unlawful about that! He validates the position of folks who tar him as corruption articulated!

sapele914:
Go and ask Jona and family in Yenogoa.

PhockPhockMan:
But Buhari, in the document titled, ‘I pledge to Nigeria’ had also said that all his political appointees would only earn salaries and allowances as prescribed by the Revenue and Mobilisation and Fiscal Allocation Commission.

He said, “I pledge to publicly declare my assets and liabilities, encourage all my appointees publicly declare their assets and liabilities as a pre-condition for appointment. All political appointees will only earn the salaries and allowances determined by the RMFAC. I pledge, as Commander-in-Chief, to lead from the front and not behind in the comfort and security of Aso Rock, to boost the morale of fighting forces and the generality of all Nigerians.”

http://www.punchng.com/news/buhari-vp-fail-to-declare-assets-publicly/

swagagolic01:
Those are soft targets

General Buratai Bought Second Dubai Property Days After Appointment As Chief Of Army Staff

General Tukur Yusuf Buratai bought a second choice property in Dubai, the United Arab Emirates, days after his appointment as Nigeria’s Chief of Army Staff (COAS), an investigation by SaharaReporters has revealed.

More from: http://saharareporters.com/2016/06/27/general-buratai-bought-second-dubai-property-days-after-appointment-chief-army-staff


*************************************************************

More Details Emerge On Nigeria Chief Of Army Staff General Buratai’s Dubai Properties

An ongoing investigation by SaharaReporters into properties acquired in Dubai by Chief of Army Staff (COAS), General Tukur Buratai, has revealed more details about the officer’s real estate acquisitions estimated at N160 million at the minimum.

More from: http://saharareporters.com/2016/07/09/more-details-emerge-nigeria-chief-army-staff-general-buratai%E2%80%99s-dubai-properties



[img]http://madukovich.files./2015/10/buratai-doing-push-ups-with-soldiers-in-the.jpeg[/img]

sapele914:
What of your papa is he not qualified to run for office or he is like Humpty Dumpty on a wall just looking and waiting to have a great fall?Mumucracy Pops should throw his hat into the race or are you people not Nigerians?since your fictitious assumed candidates are not qualified enough?

greggng:
Only an insane person still believe in pdp

sapele914:
President Kirikiri inmates looters association?
Barawo.

thunderbabs:
Can Donald Trump jus come and rule Nigeria from Aso Rock?
What z d f***ing difference?

obailala:
This issue isnt about who is better between PMB vs AA, the issue is that once again, Nigerians are saddled with 2 unappealing choices.