₦airaland Forum

chucky234: Yet another NL mumu,is Nigeria the only country that has a subsidized sector? Even America,Britain,France,Germany has many sectors subsidized to her citizens,do you know how the Oil and Gas sector is run in Nigeria by the FG? Gather facts and you will be left crying for this country,we are not suppose to suffer so much to get PMS,AGO and Kerosine.

chucky234: You are such a pathetic fellow,who opened whose eyes,GEJ? You are totally brainwashed to think that GEJ opened our eyes,Nigerians are well informed and enlightened that they were years back. The OccupyNigeria protest was pivotal to that and not GEJ as you have said,secondly Abachas debt was written off when OBJ took over in 1999 in support of Nigeria's democracy and that's to say your refering to Abachas govt as being of the subsidy is premature and moronic.
We are talking of funds budgeted for and paid out in the name of subsidy between 2010 and 2012 when GEJ and his cabinet came on board this troubled airbus called Nigeria,always think before you open your mouth to vomit rubbish.

ronkebp: So what is his going to and knowing his village do for Nigeria at this present moment?

shymmex: ^^^This isn't about me, it's about Nigeria...

Can we stick to the topic, please?

musiwa1: this is what is happen in Nigeria.

shymmex: Egbon mi razists, and the smear campaign continues...

[size=14pt]Brief Expose On Bola Ahmed Tinubu [/size]
By Maxymilliano

Yekini Amoda Ogunlere, also known as Bola Tinubu (name belongs to a late former student in the US, where Yekini served 7 years on a drug conviction), already makes over N50 billion per month from Lagos State alone.

N4.5 billion of that comes from the Admiralty Toll Plaza.

About N6 billion comes from his illegal and unconstitutional sand-dredging activities (every sand dredger in Lagos State pays him up to 50% of their earnings).

Another cool N500 billion is expected from the Lekki Free Zone project.

N70 billion came in directly from the land on which the Lakowe Lakes Golf resort is sitting in Ibeju Lekki, which he personally gave to ARM (another of his front companies, which he bought out from GTB while still governor of Lagos State - his people will be quick to say that it was a Management Buy Out, but the question is, where did "management" find that money?)

Billions of that comes from the returns produced by shares formerly belonging to Lagos State in Eko Hotels, which he converted through several fronts between 1999 and 2006 in several shady transactions that brought him and the Chaghoury brothers together in Hitech Construction, a decidedly low-tech outfit of bricklayers.

More billions come from his appropriation of 50% of the investment of the WEMPCO Group in the Oriental Hotel business at "Admiralty Circle" Maroko.

Yet more seeps out of his illegal investment of loans obtained for the expansion of the Lekki-Epe Expressway by his ARM business in the construction of what is now the 4 Points by Sheraton Hotel, almost directly opposite the Oriental.

Still more billions come from his rapacious acquisition of land, the commonwealth of the people of Lagos, like the land which now accomodates his Royal Gardens Estate, a massive but failed real estate project at Ajah, or the land on which the even bigger Beechwood Estate, within which the rather shoddy Adeva Gardens estate sits.

Eko Akete estate, a sprawling 200 hectare "joint venture" between LSDPC and ASI Systems Ltd, has also been converted to his personal use, with him ceding it to his corrupt Lebanese friends and partners, the Chaghoury brothers. They're now building a horrible concrete jungle on it....on a profit share scheme with Yekini Amoda Ogunlere, aka Bola Ahmed Tinubu. If you ask officials of Fashola's government, they'll tell you that it's on the "Private Developers Scheme". Yeah, right

Oando, built up with funds stolen directly from Ibile Holdings Ltd, borrowed by them from the then Eko International Bank, also contributes more than its fair share of "Tinubu's" wealth. Ibile Holdings borrowed around N2 billion, under the management of Hakeem Adewusi, later to become the Finance Commissioner of Lagos State, and immediately laundered same into the coffers of Oando, who used the money to purchase FG shares in UNIPETROL and AGIP from a National Council on Privatisation led by "Tinubu's" pal, Abubakar Atiku. Oando was to later prove very useful politically, when "Tinubu" bankrolled the run-off election that saw the emergence of John Atta Mills as the President of Ghana. "Bola Tinubu" is now the "owner" of Ghana, and Mills is his direct lapdog, thanks to Oando dollars!
...

Olaolufred: Tinubu is by the side.
I should even hold Jonataani responsible for not bringing him to book if he has any evidence against him.
I wish you BEEF can suply the evidences you've got.
If he is prosecuted and billions from him could come back to the common man, I would have been more glad.
Alas, Jona won't because they all have secrets being kept that they are all aware of in their covens.
So, Jona can prosecute him if he has reasons to do so.
But sure Tinubu does not hold elected office at present.
You can dance naked in the market or do whatever you want.
I have made my point.

gbadexy: Pinkies! Are you pondering what I'm pondering?
The marketers in this report include some marketers not included in Farouk's had hoc committee.
That means the real fraud would be like 1zillion.
God help us.

ballabriggs: Who stole the money now? How did he subsidy funds rise by over 300% within a year? Who is going to jail to serve as a deterrent to others? Abi na Jona thief the money?

If he fails to act then reinforces the opinion that subsidy funds were stolen to fund his campaign.

BTW to say removal of petroleum subsidy would bring an end to corruption in the sector is totally false. I have strong economic and ethical reasons for this position. It is an attempt to relegate the importance of ethics by operators in the sector.

Sky Blue: There are huge discrepancies to account for definitely. Should we be pushing for accountability and prosecution of all found complicit? Absolutely YES.
However at the same time you have to also try and be consistent. What on earth do you mean by "return the fuel prize to its formal prize"? What formal 'price' are you talking of? You know that the price Nigerians pay for fuel is not the real price, right? We need to be clear on what we want, reducing how much we spend on that fuel subsidy, tackling corruption in the oil sector, or both. Because if it has anything to do with reduction of funds spent on fuel subsidy then you would know that one way of doing that is the removal of the fuel subsidy completely, so we don't have to even be talking about this issue in the future apart from prosecuting past thieves. Are Nigerians ready for this?

edicolove: On a different note: how did you guys miss the part where it said some of the companies involved were not listed in the house of reps kangaroo report.

Money for cap, tippex for paper! You have just been Farouked! Lol

deshclones: you are not enlightened man...this is phase one of the oriental hotel...phase two is 10times bigger than this...its like 98% completed....will try and upload the pics......with numerous estates springing up...you even missed out royal gardens estate in ajah....or the mighty estate on monastery road ajah..the estate is been constructed by julius berger..it will be a masterpiece upon completion...leave matter jor...lagosians are very gullible...they love the guy regardless...leave them to revel in their foolery.

Olaolufred: I will be part of the team of people who will press on him to do so.
on the condition that:
(1) Jonaatani has declared his. and,
(2) Tinubu is elected again into any political office.
This will be sooooooooooooooooooooo nice.

Demdem: U are a BASTARD if u dont show the whole world now where i ever defended Farouk. Am waiting plsss. as far as i am concerned, its 50-50. the investigation is ongoing and if he is found guilty he should be purnished. that has always been my position u iidiot.

Demdem: My friend, face the topic of discussion and stop these childish distractions typical of u

doofanc: What is funny thread.

Ok, let us for the sake of argument agree Tinubu has indeed enriched himself illegally. Whose duty is it to ensure he's brought to book? Will the fact that an alleged criminal is freely walking the streets not be an indictment on the govt of d day?

Demdem: That has always been the modus operandi of the killer party and the retardeen who stands for the sustainance of the status quo as aganist the transformation he promised simply did what he had to do.

Demdem: Sttupid he-goat