₦airaland Forum

Politicos:
Despondent dude, distraught fella, enjoy the little candy you got in exchange for your brain.

Politicos:
Mendicant, you need a brain vacuuming to flush out the sea of debris that has eroded your thought process.

ADEBOYE, REDEEM CHURCH LEADER IN N20 BILLION IMPORT WAIVER SCANDAL

The General Overseer of the Redeemed Christian Church of God, RCCG, Pastor Enoch Adejare Adeboye has been linked to a scandalous import duty waiver said to have cost Nigeria a whooping N20 Billion in revenue loss between 2006 and 2007.

A Fiscal Commission source in Abuja preferring anonymity told Pointblanknews.com during the week that pastor Adeboye, tapping into his well-known ties with former President Olusegun Obasanjo benefited from the shady import duty waiver in which Alhaji Aliko Dangote, Chief Mike Adenuga, Alhaji Saminu Turaki, Mr. Donald Duke and others were prime beneficiaries.

According to the impeccable source, the duty waiver granted Adeboye was said to have been used “dishonestly” by the church to import luxury Sport Utility Van, SUV (usually called Jeep in Nigeria), building materials and Digital Recording equipment some of which were said to belong to top members of the church both within Nigeria and abroad. In other words, the source surmised that Adeboye used his high level connections to “aid and abate” his church members to defraud the nation by not paying the requisite importation fees.

The source said that many of the RCCG’s faithful in Nigeria and abroad had celebrated the “unlawful act” as a “testimony to the goodness of the lord.” It was said that a Pastor Ghandi of the Jesus House, RCCG in Washington DC where the late first lady Mrs. Stella Obasanjo used to worship whenever she was in the United State, was a facilitator of the deal.

Many of the luxury cars that were said to have been imported through the deal were not meant for private use. They were said to have been sold at several car dealerships across the country. The source explained to pointblanknews.com that even if the items were not traded, it was unheard of that “people would import duty-free luxury items into any country.”

The official did not rule out the possibility of a thorough investigation of the deal which he said could make Adeboye to pay and possibly face charges.

A document made available to pointblanknews.com indicated that in 2006, RCCG got an import waiver of N9,831,109,309.00 through certificate no.,BO/REV/12235/S.2/T.133 to import construction materials; generators and vehicles. The value of the imports was N49,155,546,846.00.

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In 2007, another import waiver was granted. This time through a certificate number BO/R10260/V111/161, RCCG was granted rights to import building/construction materials with value put at N48,988,454,876.00 with a total waiver of N9,757,690.975.20. The two waivers total N19,588,800,284,20, while the bulk transactions amount to N98,144,347,130.20.

Also 300 luxury cars with value put at $6,923,000, 100 Jeeps (SUV) valued at $8,000,000, Video Equipment valued at $12,000,000.00, were all part of the shady import deals.

It would be recalled that the comptroller General of Nigerian Customs Services, Mr. Jacob Gyang Buba had been investigated by the independent Corrupt Practices Commission, ICPC in connection with an annual loss of N50 Billion in respect of the importation tariff waiver introduced by the Government of President Olusegun Obasanjo.

The spiritual depth of some practices of the RCCG has been subject of concern amongst growing conservative Christian worshippers. Adeboye is often criticized for being interested in quantity and not quality. He is said to have broken his church to model parishes were prosperity theology is often preached. The other class of followership is usually called Redeemed Classical. They are more mortified and often completely scriptural. Apart from Adeboye’s too cozy with the high and mighty elite, he was said to have given tacit blessing to ex-president Obasanjo’s third-term Presidential dream that was truncated with sudden humiliation.

From: https://www.nairaland.com/91292/adeboye-redeem-church-leader-n20
http://www.pointblanknews.com/os635.html

barcanista:
Since I was born, I have never witness the kind of hypocrisy, double standard and demonisation that is currently perpetrated by Muhammadu Buhari, the APC, Alhaji Sanusi, Osinbajo and their "good governance crusaders" against the person of President Goodluck Jonathan, Allison Madekwe, and other government officials.

Alhajis Buhari and Sanusi and APC have been going about using every platform to talk about a "missing $20b", cheered by their hypocritical followers that pride themselves as good governance crusaders. They have deliberately gone blind over the fraud of CBN under Sanusi as outlined by the Financial Reporting Council of Nigeria report in February 2014.

Sanusi Indicted And Removed For Fraud

According to the report (see below) Sanusi was indicted for Gross Misconduct that bothers on fraud and financial recklessness among other offence. The FRCN subsequently advised Mr President to remove Lamido Sanusi from office for further investigation and probe after the explanation of Sanusi appeared more like a tale and outrightly illogical according to FRCN. The council indicates that the explanation provided by Sanusi is “a clear display of incompetence, nonchalance, fraud, wastefulness, and abuse of due process and deliberate efforts to misrepresent facts on the part of the leadership of the CBN.”

The council advised the President to exercise the powers conferred on him by Section 11(2)(f) of the CBN Act 2007 or invoke Section 11(2)(c) of the said Act “and cause the governor and the deputy governors to cease from holding office in the CBN.”


April 2014: VP-elect Yemi Osibanjo Filed Case To Stop Sanusi Probe

Rather than Sanusi to prove his innocence in court, he filed a case in Federal High Court, Lagos to STOP FRCN and Other Security Agencies from investigating and prosecuting him through three Senior Advocates of Nigeria, Prof. Yemi Osibanjo, Dr. Kanyinsola Ajayi and Kola Awodien.
http://www.theguardianmobile.com/readNewsItem1.php?nid=24587

13 May 2014: Lagos Judge Tshoho Grants Sanusi Prayers

High Court Judge John Tshoho rather than uphold the constitutional powers of FRCN to investigate probe Sanusi, he granted the prayers of Lamido Sanusi and BARRED FRCN from further investigation or probing Sanusi Lamido Sanusi. In his own words...
“Prejudice is very pronounced in the language of that document. The language of the briefing note (transmitted by the FRCN to the presidency) conveys a sense of the defendant desperately goading the presidency to deal with the plaintiff,”
“The plaintiff submitting himself for investigation (by FRCN) is like the cockroach finding itself in the midst of fowls. Such a cockroach cannot be innocent,”.
http://www.tv360nigeria.com/?p=11923

Despite the fact the President Jonathan commissioned PWC to audit NNPC books to ascertain the veracity or otherwise of Sanusi's claim, Buhari, APC, Sanusi and their online agents that parade themselves as good governance and anticorruption apostles have been crying blue murder but refused to comment on the FRCN report nor the APC's VP elect role in shielding Sanusi for probe.

April 26, 2015: Buhari's Display of Hypocrisy

In his usual hypocrisy, General Buahri vowed to re-visit the $20b allegation but said NOTHING about the FRCN report. In his own word... “Imagine a situation where the former CBN governor who by God ‘s grace would later become the Emir of Kano raised an issue of missing billions of money, not in Naira but in Dollars, $20 billion.
“What happened, instead of investigating to know whether it was true that the money was missing or not, they simply found a reason to remove him. So these are the issues we are talking about…"

Contrary to the lies of Alhaji Buhari, Sanusi wasn't removed because he raised alarm, he was removed because he was indicted by FRCN. Jonathan also never kept mute, he commissioned PWC to audit the books. Buhari was also blind to talk about prosecuting Sanusi for the CBN fraud. Perhaps the Emir is as "incorruptible" as him(Buhari)

The FRCN’s report on Sanusi


The decision to suspend the Central Bank of Nigeria Governor, Sanusi Lamido was based on a report of the Financial Reporting Council of Nigeria dated June 7, 2013.

The report was made after a review of Sanusi’s response to the query issued to him by the President over the apex bank’s financial statement of 2012. His response was dated May 20, 2013.

According to a copy of the report obtained by our correspondent on Thursday, the council indicates that the explanation provided by the suspended CBN governor is “a clear display of incompetence, nonchalance, fraud, wastefulness, and abuse of due process and deliberate efforts to misrepresent facts on the part of the leadership of the CBN.”

The council advised the President to exercise the powers conferred on him by Section 11(2)(f) of the CBN Act 2007 or invoke Section 11(2)(c) of the said Act “and cause the governor and the deputy governors to cease from holding office in the CBN.”

The report read: The particulars of the infractions against Sanusi are:

Persistent refusal and/or negligence to comply with the Public Procurement Act in the procurement practices of the Central Bank of Nigeria.

(A) By virtue of Section 15 (1)(a) of the Public Procurement Act, the provisions of the Act are expected to comply to ‘all procurement of goods, works and services carried out by the Federal Government of Nigeria and all procurement entities.’ This definition clearly includes the Central Bank of Nigeria.

(B) It is however regrettable that the Central Bank of Nigeria, under his leadership, has refused and/or neglected to comply with the provisions of the Public Procurement Act (PPA). You will recall that one of the primary reasons for the enactment of the PPA was the need to promote transparency, competitiveness, cost of effectiveness and professionalism in the public sector procurement system.

(C) Available information indicates that the Central Bank has over the years engaged in procurement of goods, works and services worth billions of Naira each year without complying with the express provisions of the PPA.

(D) By deliberately refusing to be bound by the provisions of the Act, the CBN has not only decided to act in an unlawful manner, but has also persisted in promoting a governance regime characterised by financial recklessness, waste and impunity, as demonstrated by the contents of its 2012 Financial Statements.

Unlawful expenditure by the Central Bank of Nigeria on ‘Intervention Projects’ across the country

(A) the unacceptable level of financial recklessness displayed by the leadership of the Central Bank of Nigeria is typified by the execution of ‘Intervention Projects’ across the country. From available information, the bank has either executed or is currently executing about 63 such projects across the country and has committed over N163billion on them.

(B) it is inexcusable and patently unlawful for any agency of government to deploy huge sums of money as the CBN has done in this case, without appropriation and outside CBN’s statutory mandate. It is trite that the expenditure of public funds by any organ of government must be based on clear legal mandates, prudent costing and overriding national interest.

Financial infractions and acts of financial recklessness committed by the Central Bank as reflected in its audited financial statements of 2012

(A) pursuant to Section 50 of the CBN Act 2007, a copy of the audited financial statements of the CBN for the year ended 31st December 2012 was sent to Mr. President. Based on the issues raised in the financial statement, a reaction was requested from you to enable a proper appreciation of the nation’s economic outlook.

(B) the response to this query was further referred to the Financial Reporting Council of Nigeria. The review by the council, rather than allay the fears of government, further confirmed concern bout the untidy manner in which you have generally conducted the operations of the CBN.

Some of the salient observations arising from the review are;

(A) in a most ironical manner, it has become obvious that the CBN is not able to prepare its financial statements using applicable International Financial Reporting Standards (IFFS) whereas Deposit Money Banks that the CBN is supervising have complied with this national requirement since 2012.

Undoubtedly, this laxity on the part of our apex bank, apart from calling to question its capacity for proper corporate governance, is capable of sending wrong signals to both domestic and international investors on the state of the Nigerian economy.

(B) the provisions of the Memorandum of Understanding (MOU) signed by the CBN and other Deposit Money Banks on Banking Resolution Sinking Fund have been breached in a material manner. For example, a Board of Trustees (BOT) to manage the Fund has not been constituted since 2010 when it was established. The CBN has however continued to utilise the Fund for certain operations without approval of the said BOT.

(C) contrary to section 34 (b) of the CBN Act 2007 which provides that the CBN shall not, except as provided in Section 31 of the Act, inter alia, purchase the shares of any corporation of company, unless an entity set up by the approval or authority of the Federal Government,m CBN in 2010, acquired 7% shares of International Islamic Management Corporation of Malaysia to the tune of N0.743 billion. This transaction was neither brought to Mr. President’s attention nor was a board approval obtained before it was entered into.

(D) the CBN has failed or refused to implement the provisions of the Personal Income Tax (Amendment) Act 2007. Accordingly the Pay-As-You-Earn (PAYE) deductions of its staff are still being computed in accordance with the defunct Personal Income Tax Act 2004, thus effectively assisting its staff to evade tax despite the generous wage package in the CBN, relative to other sectors of the economy.

(E) the CBN had an additional brought forward to General Reserve Fund of N16.031bn in 2012 but proceeded on a boy age of indefensible expenses in 2012 characterised by inexplicable increases in some heads of expenditure during the year. Examples include:

1. The bank spent N3.086bn on “promotional activities” in 2012 (up from N1.084bn in 2011). The bank spent this sum even when it is not in competition with any other institution in Nigeria;

2. The CBN claimed to have expended N20.202bn on ‘Legal and Professional Fees’ in 2011 beyond all reasonable standards of prudence and accountability;

3. Between expenses on ‘Private Guards’ and ‘Lunch for Policemen’, the CBN claimed to have spent N1.257 billion in 2012;

4. While Section 6(3)(c) of the CBN Act 2007 provides that the board of the CBN is to make recommendations to Mr. President on the rate of renumeration to Auditors, the bank has consistently observed this provision in breach and even went to the extent of changing one of the Joint External Auditors without notifying the office of the President.

5. In the explanations offered by the CBN pursuant to presidential directives, it offered a breakdown of ‘Currency Issue Expenses’ for 2011 and 2012. Interestingly, it claimed to have paid N38.233bn to the Nigerian Security Printing and Minting. Company Limited (NSPMC) in 2011 for ‘Printing of Banknotes.’ Paradoxically however, in the same 2011, NSPMC reported a total turnover of N29.370bn for all its transactions with all clients (including the CBN).

6. It is significant to note that the external audit revealed balances of sundry foreign currencies without physical stock of foreign currencies in the CBN Head Office.

Questionable write-off of N40bn loans of a bank

The above issues are only a few of the infractions highlighted by the review and which point to the gross incompetence and recklessness which characterised the operations of the CBN in the period under review.

However, the CBN also claimed that it paid Air Charter, such as payments to Emirate Airline (N0.511bn), Wing Airline (N0.425bn) and Associated Airline (N1.025bn) to distribute currency by air nationwide. Emirate Airline does not fly local charter in Nigeria, Wing Airline is not registered with Nigeria Civil Aviation Authority and Associated Airline does not have a billion turnover for 2011 because upon enquiry, the management claimed that they have no financial statements and have not had any significant operations for the past two years that will warrant preparation of financial statements.

The breakdown also include “Currency Issue Expenses” of N1.158bn and Sundry Currency charges of N1.678bn under “Currency Issue Expenses.” As they are in 2011 so are similar expenses in 2012. These are difficult to understand.

Other areas of fraudulent activities include

1. Facility Management N7.034bn in 2012 (N5.751bn in 2011.

2. Foreign Bank accounts that have been closed offshore were still operational in the General Ledger for over six months after they have been confirmed as closed accounts by the offshore banks.

3. The “Know Your Customer” policy is not properly followed by the CBN to the extent that the CBN has unknown customer with account balance of N1.423bn since 2008. The CBN claim that it is taking steps to obtain the required details regarding the address of the customer.

Wastefulness

1. Training and travel expenses N9.24bn in 2012 up from N7.65bn in 2011.

2. Expenses on “ATM offsite policy change” came to N1.045bn.

3. Expenses on “Non Interest Banking” N1.359bn in 2012 up from N0.977bn in 2011.

The CBN is still very heavy on expenses on “Project Eagles” spending N0.606bn in 2012 up from N63m in 2011.

Expense on newspapers, books and periodicals (excluding CBN’s publications) is N1.678 billion in 2012 up from N1.670bn in 2011,


From: http://www.punchng.com/news/the-frcns-report-on-sanusi/

Lilimax:
Honestly.
The owners of REMITA will be smiling big time having scammed Nigerians

dammytosh:
Yes it was initiated but never implemented because a lot of sharp practices won't be easy any longer.

It makes accountability compulsory

MadCow1:
It was started by Jonathan in 2011..

Implementing it was done by President Muhammadu Buhari.

Its one thing to think up an idea, its another to implement.

Jonathan could never have implemented it because it would stop the free choppings on his government.

papawemba:
REMITA is a payment software.

Did these guys go to school at all?

dammytosh:
What f00lish question is Fayose asking from a company engaged by Jonathan and his team as far back as 2011.

MadCow1:
Was this TSA agreement with REMITA not the same agreement signed in 2012 by President Goodluck Ebele Jonathan in Partnership with Aunty Okonjo Iweala and GEJ's Economic team?

How did APC now get involved in this Fayose?

braine:
Nice. But wheres the wife?

juman:
No picture of the husband and wife (segun and wife).

mrlaw93:
Dem plenty dere.. bt d heart decides!

I am a born champion, a hero an angel send to deliver Nigeria.. Will start my mission when the time comes

mrlaw93:
What can i say? He is another fo0lish Biafran....

mrlaw93:
Another Biafran in crime.. Smh 4 d nation.

mrlaw93:
I dont know what to do.. I feel she as just used me to pass time. I feel cheated yet i dont wanna loose her. Pls nairalanders i need your advice. What should i do?

Enesi47:
you will also be arrest for having sex with your sister dead brain

doctokwus:
Sincerely as a governor it cud be excused but as a minister,having a personal photographer is unnecessary.

billyG:
Look campaign & election is Over!

PassingShot:
Na Cocaine Island I dey nah

aladu1:
ride on FASH..... i know you would bring the change we are really looking for

AUGUST 10, 2011

The Lagos deal would be the first of its kind for the TTC. Decommissioned cars are usually sold for scrap metal and can fetch up to $1,500 dollar each. While Ross declined to discuss specific figures, he says the sticker price for Lagos is "significantly more" than scrap prices, putting the potential profits to the TTC in the millions of dollars.

It is not unusual for technology from western nations to end up in poorer countries. Marketplaces in Africa and Asia are flooded with North American clothes, computers, and even cars, but the purchase of larger technology like trains is rarer.

The cars will have to be significantly refurbished to fit existing infrastructure in Lagos, and some Nigerian media reports have lamented that the government appears to have settled on "tokundo," or used, trains instead of brand new vehicles.

Although half the cars are more than 30 years old, Ross is adamant they are perfectly safe and are only being decommissioned for capacity reasons. But he also admitted the TTC is not required to make sure the cars meet any safety standards before selling them.

"Once sold, it's up to the new operator to ensure they are in good working order," he said. "They do need to be maintained much more frequently than the new trains, simply because of their age. At some point they will run out their useful life."

Murtaza Haider, director of the Institute of Housing and Mobility at Ryerson University, said the age of the cars is definitely a cause for concern.

"We should be ensuring that there is some service life left in these vehicles and we're not going to be playing havoc with the lives of those who would ride these vehicles," Haider said. "There's metal fatigue, and that metal fatigue could result in dangerous conditions. I would be paying a close watch on this for the next ten years to see how many accidents do happen in Lagos."

More from: https://nowtoronto.com/news/next-stop-nigeria/

Lagos light rail’ll be ready in June – Fashola
JANUARY 9, 2013

The Lagos State Governor Babatunde Fashola on Tuesday said the first phase of the state Blue Light Rail project would be completed by June this year(2013).

He expressed confidence that Lagosians would start enjoying the services of the lrail project immediately.

The first phase would run from Marina and terminated at Okokomaiko area in Ojo Local Government.

Fashola spoke during an inspection of ongoing projects in the state which took him and his cabinet members to Orile-Iganmu, Alimosho and Ejigbo areas among others to assess the level of works being done by contractors.

The governor, who inaugurated the trackwork of the blue light rail at Alaba Suru, Coker-Agunda Local Council Development Area, said the level of work on the road and those of the National Theatre and Alaba-Mile 2 rail stations, would ensure early completion

He said, “In order to finish the project, the contractor did not go on vacation during the festive period. This will ensure that the project is delivered on time for the use of Lagosians.

More from: http://www.punchng.com/news/lagos-light-railll-be-ready-in-june-fashola/

How We Spent N160bn World Bank Loan on Light Rail Project
11 Sep 2014
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He, therefore, explained that the state government already “has in place, strategies to repay the loan. The federal government was in the know of the state’s decision to take the bond and it approved it.”

He added that the truth “is that what they do not also say is that no state in Nigeria can borrow money outside, from any multilateral agencies without the approval of the federal government.

“What they did not say is that they approved it. No state can raise money by bond the way we have done without the federal government’s approval. Both SEC and NSE are all federal regulatory agencies through which we must pass. If they said okay, it means there must be something good about the debt.

More from: http://www.thisdaylive.com/articles/lagos-how-we-spent-n160bn-world-bank-loan-on-light-rail-project/188736/

Why I reached out to Igbo voters –Ambode, Lagos APC governorship candidate
APRIL 4, 2015
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When is the light rail going to be delivered, the project seems to be going on for years?

I just said it, it’s being funded by Lagos State and the Federal Government support is not there. But I believe strongly that we will create a financial restructuring that will allow us to deliver that light rail within the next 18 months.

More from: http://www.punchng.com/feature/hotseat/why-i-reached-out-to-igbo-voters-ambode-lagos-apc-governorship-candidate/

IzonOwei:
passingshot na abroad you dey be that o...you sure say u dey nigeria...basic amenities?...you must be in bonny island or brass ....i am sure its not our government providing you with such basic amenities...

Alwaystruth:
Deliverance with sex !!..
End time things oo ...
women and gullibility..
If i am the judge, these cases are closed because
the women just paid for the fun they enjoyed ,short and simple.
If those who lent her money weren't bothering her the fun
would continue going on......
Conscious rendevous turned ....bad..

Demmzy15:
Yeebhoe people!! cc parisbookaddict, pneumaticos, annunaki, true2god(don't worry I'll reply that your nonsense posts), truthman2012, basilico. Can you guys explain this?!

PassingShot:
It means you're guilty of what you highlighted in my post. Desist, it doesn't make you come across as a matured guy. If you think deep, you'd realize my point.

kday:
Politics apart you are a sorry excuse for a human being. Hope you are not cursing yourself with your moronic comment. Sad

scribble:
https://www.karensperspective.com/wp-content/uploads/2010/03/dollar_rain.jpg




Dollarization Of The APC Primaries: How Amaehi Vanquished Atiku #saibuhari

The blogosphere was inundated with reports of the excessive sharing of dollars at the All Progressives Congress which took place during the latter part of last week.

One APC supporter and Special Adviser to Osun Governor on Environment, BolaIlori had blown the scandal open after he saw the beginning stages of the dollarization in action.

He took to his Facebook page and scribbled, “Crazy things are happening here!!! Some of these cannot represent the change Nigeria is yearning for. Excessive dollarization by one of the aspirants to is to say the least obscene. I have been involved in political process for decades now, I have never witnessed this volume of raw dollarization of party primaries. I only read about this kind of things in PDP primaries. A question been asked by conscientious delegates is that whoever can be giving out between $2000 to $5000 to…delegates certainly does not represent the kind of change Nigerians want…those who contributed to the pauperization of Nigeria now revel in dollarization… majority of Ondo delegates are still standing with Buhari but have been reduced from 85% to 70% within 24 hours…the remaining has gone with dollars ooo.!!!!!”

One has to wonder how Buhari was able to win the primaries in this era of stomach infrastructure where dollars are like the Biblical manna that God sent down from heaven to nourish the Israelites as they made their way to the promised land.

Sources close to the APC with knowledge of the way the Primaries unfolded have revealed that it was Rivers State Governor, Amaechi who flew back to Rivers State and returned to Lagos on Thursday morning with enough dollars to make Benjamin Franklin blush.

It has been revealed that Atiku offered the delegates $5000 each, but Amaechi doubled it to $10000 a pop. Thus turning the tables in favour of General Buhari.

Since his adventure into the APC, Amaechi has gone out of his way to prove himself a party loyalist, always the first to shoki or azonto at the many events the APC holds, which he himself is usually the chief sponsor.

According to party insiders, Amaechi has overtaken Tinubu as the major financier of the party. One does not need to wonder why he is always at President Jonathan’s throat over misappropriated oil wells or other such business. Anything that diminishes from the State’s coffers will have a ripple effect on his funding budget for the APC.



Joe Francis wrote in from Port Harcourt.


http://www.theheraldng.com/dollarization-apc-primaries-amaehi-vanquished-atiku-saibuhari/

PassingShot:
I am all for constructive criticism. Not the "we lost election and e pain us" type. It's normal that a new govt is given time to settle down before it's hounded with criticism especially the destructive type.

PassingShot:
We don't need photos anymore.

Get down to work quickly and give us light fast!