₦airaland Forum

Xiomarra sum it up and put it brilliantly into words, even Chinua Achebe would have been proud of the qoute

                                              Nigeria Loses N3.5tr To Corruption – FG

                                                           News Agency Of Nigeria


 

Special adviser to the President on the New Partnership for African Development (NEPAD), Dr. Tunji Olagunju, said yesterday that Nigeria lost about N3.5 trillion to corruption in the last four decades.

He announced this while speaking on the key challenges in Nigeria, at a conference on Nigeria’s Country Review Report (CRT) on the African Peer Review Mechanism (APRM).

He said that the information was released by the former World Bank president, Mr. Paul Wolfwitz.

According to Olagunju, corruption and money laundering have retarded economic growth and development, as well as frustrate incentives on budgetary allocation with development priority.

"Corruption is responsible in large measure for broken promises, the dashed hopes and shallow dreams that have characterised the lives of most Nigerians in the past few decades,’’ he said.

He said that Transparency International’s 2006 corruption perception index ranked Nigeria more corrupt than 37 out of the 45 African countries for which relevant data were available.

"Nigeria will continue to be poor and the country may not meet it targets of being one of the 20 top global economies by 2020," he added.

Olagunju said Nigeria was rated among the top 20 countries in the world with the widest gap between the rich and poor.

He added that the greatest challenge facing the country was how to channel her wealth from the oil and gas industry.

He said Nigeria was unlikely to meet the Millennium Development Goals (MDGs) and was having difficulty in delivering social services, like potable water and energy.

"Nigeria has been unable to manage rapid and uncontrolled urbanisation, or providing effective intra and inter-urban transportation,’’ he said. (NAN)





                                        from my humble calcultion that translate into:
                                                       N87.5 billion  per year

                                                     which is equivalent to about:
                                                         N240 million per day

God bless Nigeria.

my brother l wonder same as u, if l have the opportunity to choose when coming next time, lm sure lt wont be Nigeria.

can anybody tell me any good thing that has ever come out of the Nigeria army?

l really sympathize with the unfortunate people whose picture are posted on-line; they are victims , just like the rest of us. the  system in Nigeria takes away the human in most people , and make us inhuman.

Most Nigerians are criminals - its fact. When you travel abroad on Nigeria passport, you are given a special treatment, presume guilty unless prove otherwise. In international business, the name Nigeria, closes all doors of opportunity. nobody wants to do business with a Nigerian.

Due to the government corruption , which has destroyed the fabric of our society; every single day t, thousands of Nigerians are becoming thieve, 419, drug pushers, aassassin the system left people with no option than to follow the hard way, the only way.

the picture u should be displaying on the forum is that of president, governors, lawmakers . those are the people that steal in billions and force other people to become criminals.  Most of those criminals whose picture are been displayed are worth less than 100 million.

somebody like Saminu Turaki stole over one billion ,  yet he is still a senator.  that money could reduce drastically the poverty in Jigawa state and create jobs that would last a generation.

make una lif Baba Iyabo alone, after all he managed to get all Nigeria foreign debt off.

one day some people will look back, between 7 to 10 yrs, and praise Baba Iyabo to high heaven.

Nigeria is a country of the past , nobody believe in the present. ask an average Nigeria , he would tell you, last year is better than this year, last 10 years is better than this year, last 15 years is better than this year. In Nigeria things got worst year after year. there is no year of improvement.

In Nigeria we live in the past , despise the present and terribly uncertain of the future.

Regarding the nature of the present regime , l believe Yemola captured the mood:

Q: What do you expect from a man who was thinkng about his kidneys the night before and was dragged by the scruff of his neck the next day to be president?

A: "Exciting times"



and that s what we wll get for the next 2 years, nothing, Our president had no plan for us before coming, so don't expect anything productvie in his first term

l rest my case

Cristalzon: Yesterday at 12:48:53 PM

Come on.The situation's bad but its not that bad.Your post sounds so scary,lol

lm not scary but factual. Nigeria is living on a borrowed time. when the oil finished , our time will be up. the operation of Nigeria system is simple: sell oil, share the money. About 50% of the oil money goes into private pocket, 20% is used to fund abandoned projects and the remaining 30% for services ( salaries, maintenance , ).

No Nigeria governmeny till date has been able to give a proper account of how the oil money is been spent. Probably they dont know.

Since it history, Nigeria has never had a proper civilian government. All our civilian presidents were imposed on us. They were people who do not aspire to the post , but were given the presidency on platter gold. Check out the list; Shagari, Shonekan, Obasanjo , Yaradua.

They didnt ask for it, but they got it. When they got there , they didnt have a plan so they Bleep up.

Yaradua is a sick man, dont expect much from him. l heard he hardly stay in the office, spend most of the time tending his health.

the people around him are ruling the country. We ve entered a period of slow motion, for the nest 3 yrs, nothing will get done.

Yaradua is a nice gentleman, the problem with Nigeria is a nice man cannot rule Nigeria. The counry require a strong and decisive leader, someone that can take the difficult decisions.

In Nigeria presidency is everything. It represennt life and death. Most Nigerians depend on the presidency for survival. Most state in Nigeria are not viable, they hardly generate up to 10% of their annual budget. Completely, they depend on handout from the presidendy.

Yaradua is a nice, but sick and weak, definately not up for the job. The power broker always want a weak president so that they can perpetuate their status quo. I believe Yaradua is a plant by Obasanjo. Baba knows what he was doing when he forced the guy on Nigeria.

l heard from the grapevine that Yaradua comes to office and leaves before the normal closing hour, that he easily get tired due ti his bad health. this is similar to his tenure as Governor of Katsina. He left lot of money in the bank, becourse he cannot be boadered to spend them.

The country has enterd a period of slow motion for the nest 3 yrs. There wont be much movement. Most likely things might get worst as the different interest groups try to take advantage of a weak and sick president.

regards

List of  Approved Nigerian Stockbrokers

Adonai Stockbrokers Limited
Afrinvest West Africa (formerly Sectrust)
Ail Securities Limited
Alliance Capital Management Company Limited
Amyn Investments Limited
Anchoria Investment and Securities Limited
APT Securities & Funds Limited
Belfry Investment and Securities Limited
Bestworth Assets & Trust Limited
BGL Securities Limited
Calyx Securities Limited
Camry Securities Limited
Capital Express Securities Limited
Capital Assets Limited
Capital Bancorp Limited
Capital Trust Brokers Limited
Cashcraft Asset Management Limited
Cashville Investment & Securities Limited
Century Securities Limited
City-Code Trust Limited
Clearview Investment Company Limited
Consolidated Investments Limited
Core Trust and Investment Limited
Crossworld Securities Limited
CSL Stockbrokers Limited
Davandy Finance & Securities Limited
De-Canon Investment Limited
Delords Securities Limited
Denham Management Limited
Dependable Securities Limited
Dominion Trust Limited
Dynamic Portfolio Limited
Empire Securities Limited
ESL Securities Limited
Eurocomm Securities Limited
F & C Securities Limited
FSDH Securities Limited (formerly Counters Trust)
Falcon Securities Limited
Fidelity Union Securities Limited
First Stockbrokers Limited
FIS Securities Limited
Fittco Securities Limited
Foresight Securities & Investment Limited
Forte Asset Management Limited
Forthright Securities & Investments Limited
Fountain Securities Limited
Future View Securities Limited
Greenwich Trust Limited
GTI Capital Limited
Heartbeat Investments Limited
Horizon Stockbrokers Limited
IBTC Asset Management Limited
ICMG Securities Limited
Icon Stockbrokers Limited
Independent Securities Limited
Intercontinental Securities Limited
International Standard Securities Limited
LB Securities Limited
Lead Capital Limited
Lighthouse Asset Management Limited
Magnartis Finance and Investment Limited
Maninvest Asset Management Limited
Marina Securities Limited
Maxifund Investments & Securities Limited
Mayfield Investments Limited
MBC Securities Limited
Mega Equities Limited
Meristem Securities Limited(formerly Great Africa Securities)
Mission Securities Limited
Mountain Investments and Securities Ltd
Mutual Alliance Investments and Securities Limited
Newdevco Finance Services Co. Limited
Nigerian Stockbrokers Limited
Omas Investments & Trust Company Limited
Options Securities Limited
Partnership Investment Company Limited
Pilot Securities Limited (Pilot Finance)
PIPC Securities Limited
Pivot Trust and Investment Company Limited
Professional Stockbrokers Limited
Profund Securities Limited
Prominent Securities Limited
PSI Securities Limited
Reward Investments and Services Limited
Rostrum Investment & Securities Limited
SanTrust Securities Ltd
Securities Solutions Limited
Security Swaps Limited
Shalom Investment & Securities Transactions Limited
Signet Investments & Securities Limited
Solid-Rock Securities & Investment Limited
Springboard Trust & Investment Limited
Stanwal Securities Limited
Strategy & Arbitrage Limited
Summa Guaranty & Trust Co. Plc
Summit Finance Company Limited
Tiddo Securities Limited
Topmost Finance and Investments Limited
TransAfrica Financial Services Limited (formerly Trust & Financial Services Limited)
Trusthouse Investments Limited
Trust Yields Securities Limited
TRW Stockbrokers Limited
Union Capital Markets Limited
Valmon Securities Limited
Valueline Securities & Investments Limited
Vetiva Capital Management Limited
Wizetrade Capital & Asset Management Limited
Yobe Investment Company Limited
Zenith Securities Ltd
A.A.A. Stockbrokers Limited
Adamawa Securities Limited
Allbond Investments Limited
Altrade Securities Limited
Apex Securities Limited
Asset Plus Securities Limited
Beachgrove Securities & Investments Co. Limited
Beaver Securities Limited,
Bestlink Investment Limited
BFCL Assets & Securities Limited
BIC Securities Limited
BSD Securities Limited
Centre-Point Investments Limited
Colvia Securities Limited
Cooper Fleming Stockbrokers Limited
Crane Securities Limited
Dakal Services Limited
DBSL Securities Limited
Emi Capital Resources Limited
Enterprise Stockbrokers Plc
Epic Investment Trust Limited
Equator Finance & Securities Limited
Excel Securities Limited
Express Portfolio Services Limited
Fidelity Finance Company Limited
Financial Trust Company Nigeria Limited
Finmal Finance Company Limited
First Atlantic Securities Limited
First Equity Securities Limited
Floodgate Finance & Securities Limited
Folu Securities Limited
General Securities & Finance Company Limited
Genesis Securities And Investment Limited
Gidauniya Investment & Securities Limited
Global Asset Management (Nig.) Limited
Golden Securities Limited
Hamilton Hammer & Company Limited
Heritage Investment & Securities Limited
Hillcrest Securities Limited
IB Finance & Securities Limited
IBN Securities Limited
Integrated Trust and Investments Limited
Intermediate Capital Group Limited
International Capital Securities Limited
Interstate Securities Limited
Investors & Trust Company Limited
Jamkol Investments Limited
Kinley Securities Limited
Kundila Finance Services Limited
Laksworth Investments & Securities Limited
LION STOCKBROKERS LIMITED
LMB Stockbrokers Limited
Lombard Securities Limited
Lynac Securities Limited
M. L. Securities Limited
MACLAIZE Trust & Securities Co. Ltd
Mainland Trust Limited
Marriot Securities & Investment Co. Limited
Mercov Securities Limited
Midas Stockbrokers Limited
Midlands Investment & Trust Co. Limited
Molten Trust Limited
Monument Securities and Finance Limited
Networth Securities & Finance Limited
Niche Securities Limited
Nigerian International Securities Limited
Nova Finance & Securities Limited
OMF Securities & Finance Limited
Perfecta Investment Trust Limited
Premium Securities Limited
Prudential Securities Limited
PSL
Quantum Securities Limited
Rainbow Securities and Investment Co. Limited
Resano Securities Limited
Resort Securities & Trust Limited
RIVERSIDE TRUST LIMITED
Rivtrust Securities Limited
Royal Crest Finance Limited
Sanbros Trust & Securities Limited
Sigma Securities Limited
Sikon Securities and Investment Trust Ltd
Silver Financial Services Ltd
Spring Trust & Securities Limited
Stanbic Equities Limited
Support Services Limited
Supra Commercial Trust Limited
The Investors' Advisers Limited
Thomas Kingsley Securities Limited
Three Star Investments Limited
Tomil Trust Limited
Trade Link Finance & Securities Limited
Transglobe Investment & Finance Co. Limited
TRANSWORLD INVESTMENT LIMITED
Tropics Securities Limited
UIDC Securities Limited
UNEX Securities and Investment Limited
Urbane Stockbrokers Limited
Vision Trust & Investment Limited
Viva Securities Limited
WSTC Securities Limited
IMB Securities Plc.
Akitorch Securities Limited
Gosord Securities Limited
Halsec Finance Limited
Kwara Investment Company Limited
ITIS Securities Limited (license revoked)
Jenkins Investment Limited (license revoked)
Morgan Trust and Asset Management Plc (license revoked)

source: http://www.karakataonline.com/stockbrokers.html

hi,
the first stockbroking firm l would rate is cashcraft. l have been with them for the past 2 years through a friend recommendation. they have a good web presence with tonnes of information comparable. their service is nest to zero. they are probably one of the worst brokers in Nigeria. only in Nigeria can a broker firm like cashcraft exist, in a developed economy they would either have been clamp dawn by the regulatory authority or forced out of business through client litigation.

this is my rating:

DURATION - 2yrs
COMMUNICATION - 1/5
SPEED OF EXECUTION - 0/5
CUSTOMER SERVICE - 0/5
ON-LINE SERVICE - 3/5
ACCURACY - 1/5
RECOMMENDATION- pls avoid them

regards
bilymuse

Hi Everybody,

For those who want to invest in Nigeria stock market a good stockbroker is of paramount importance. A bad stockbroker could frustrate and left you disillusion. For a successful investment you must get your broker right.

The idea of the trend is for everybody to rate their brokers and bring their activities to the limelight. Only client are allow to rate their brokers, staff are not allowed, this is to give an unbiased and fair assessment. something similar is ongoing is some other forum, but I believe is time the biggest forum , nairaland , have a say.

After every three different client rating, I will mail the posting to the broker concern and ask for their response. All replies from the brokers would be posted on the forum. I would also invite the broker firm to the forum to take up issues with their client concern.

Please try to be fair in your rating.

Rating brokers in a public forum like this would help toward the development of the Nigeria stock exchange. Some stock broking firm might take heed and improve their services , others with good services would strive to maintain and improve. It would also give the investing public a good idea about a particular broker.

the rating figure would be between 0 and 5. brokers should be rated under the following category:

DURATION
COMMUNICATION
SPEED OF EXECUTION
CUSTOMER SERVICE
ON-LINE SERVICE
ACCURACY
RECOMMENDATION


regards
bilymuse

Nnamani faces N5.621bn fraud charge * 3 others, 7 companies charged with him; Trial begins today
By Innocent Anaba


LAGOS — IMMEDIATE past governor of Enugu State, Dr Chimaroke Nnamani, and three other persons, as well as seven business outfits, suspected to be owned by him are facing a 34-count charge of fraud, conspiracy, concealment and money laundering totalling about N5.621 billion. They are due to be formally charged before a Federal High Court in Lagos, today.

The other accused persons cited in the charge with suit No. FHC/L/230c/07 are Sunday Anyaogu; Sylvia Onwubuemeli; Rainbownet Nig Ltd; Hillgate Nig. Ltd; Cosmos FM; Capitalcity Automobile (Nig.) Ltd; Renaissance University Teaching Hospital; Renaissance University and Mea Mater Elizabeth High School.

Vanguard gathered that the arraignment, originally scheduled for yesterday, was shifted because the former governor was arrested only on Monday, after he reported to the Economic and Financial Crimes Commission (EFCC) in Abuja. He was taken back to hospital, after he complained that he was still not well. It was, however, gathered that he (Nnamani) was transferred to Lagos late yesterday, for him to be available for today’s arraignment.

The 34-count charge filed against Nnamani and the other eight accused persons reads in part:
•That you Chimaroke Nnamani, Chinero Nwigwe (now at large), Sunday Anyaogu, Sylvia Onwubuemeli, Rainbownet Nig Ltd, Hillgate Nig. Ltd., Cosmos FM, Capitalcity Automobile (Nig.) Ltd, Renaissance University Teaching Hospital, Renaissance University, Mea Mater Elizabeth High School between August 2003 and May 2007 within the jurisdiction of this court did conspire among yourselves to commit an offence to wit: laundering of funds belonging to Enugu State Government Statutory Allocation and you thereby committed an offence punishable under Section 17 of the Money Laundering (Prohibition) Act, 2004.

•That you Chimaroke Nnamani, Chinero Nwigwe (now at large), Sunday Anyaogu, Sylvia Onwubuemeli, Rainbownet Nig Ltd, Hillgate Nig. Ltd., Cosmos FM, Capitalcity Automobile (Nig.) Ltd, Renaissance University Teaching Hospital, Renaissance University, Mea Mater Elizabeth High School sometime in August 2003 within the jurisdiction of this court did collaborate to conceal the genuine origin of the sum of N173,151.45 which sum was illegally taken from the statutory allocation to the Local Governments in Enugu State and you thereby committed an offence punishable under Section 14(1) of the Money Laundering (Prohibition) Act, 2003.

nobody is leaving nigeria until the oil in niger delta runs out

while people traficking drug to countries where the justice or injustice is capital punishment knows what they are in for.

I believe nigeria government should represent the interest of its citizen anywhere in the world irrespective of crime committed. just like most western nation does.

In nigeria we are blessed with common criminal masquerading as leaders, whose only purpose in power is to loot the treasury.

they are all shameless. we ve been here before. during abacha time, some fools were carrying placard saying abacha should rule forever.

this is a matter of law. the law must take it course.
I believe ribadu is doing a great job and must be supported by all right thinking nigerian.

all arrested governors should be given bail if they satisfy the necessary condition and allowed proper defence according to the law.

one day, l hope to see babangida on trial, then l believe nigeria would be on the road to true recorvery

may ribadu reign forever!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!