erico2k2:

I agreebut I recon some Biz owners might have a provition to buy seals if they can afford it.Anyway I won't be affected as my Account is saving and I won't open a current account in Nigeria not in 50 years we are not ripe yet.

Can u see your selfishness and myopic understanding? You can never grow(it is not a CURSE). Your reasoning is just too low for my liking. The mere fact that the directive said "SAVING ACCOUNTS and transfers/withdrawals by self" are EXEMPTED made you to support a broad-day light ROBBERY attempt by the FG. Because you operate a savings account, isn't it? Can u just listen to yourself? So if tomorrow you want to do business, you would maintained an 'ORDINARY SAVINGS ACCOUNT' just to avoid a 'fraudulent stamp duty tax' which you can voiced your displeasure against NOW. Then how do you grow? And if tomorrow somebody wants to pay you by cheque, you will asked him to cash it, abi(BOYS STILL DEY OUT THERE)? And what give you the assurance that Govt will not extend the Tax to cover Saving Accounts(in future) if the pilot stage go smootly? Moreover, I hoped you remembered that some savings account operates like Current? So if the Bank start deducting your money unnecessarily, DON'T COMPLAIN.

easrael:
Early this morning, I read a directive by the Central Bank of Nigeria to all Banks in the country where it ordered all banks in Nigeria to start charging N50 on all transactions that are above N1,000 from ALL Nigerians.

Now, as many of us may now know this until the banks start charging it and they give you tons of excuses for it.
Here are three facts why THIS charge is a FRAUD in totality!

1. This charge is to be under a particular stamp duty which is illegal in banking transactions! At least, I know stamp duties are charged under postal orders and not on some bank transactions.

2. The account number the money is to be remitted into (CBN NIPOST Stamp Duty Collection Account No 3000047517) is not the popular TSA account number which was created as the ONLY Government transaction’s correspondence! What this means is that the Federal Government is as corrupt as anything you can imagine, using this scheme to deprive the middle class off their hard earned money!

3. This scheme of generating funds was not listed as one of the means to be used to generate funds this year in the 2016 budget! I have read the 1800 page document page to page in details that I can almost tell where a particular item is placed. You all can take the pain to read it too. This government never listed this means as a non-oil revenue making means.

What this scheme is scheduled to do is to suffer the middle class and the lower class in Nigeria to feed some greedy, corrupt and selfish upper class. Why hasn’t the FG set up a tax on luxury items which the upper class in our strata is entitled to?

There are so many questions begging for answers that, some of which many among us will avoid answering them. I’ll leave you with this: Do not ever think you’ll benefit from the N5,000 to be given to the unemployed people because it is strictly a Northern affair! That is where we have the poorest of the poor!


Salem

Israel Oladipupo Ogunseye tweets via @LadiSpeaks

GOD WOULD BLESS YOU MY BROTHER. But I bet you, so many APC ZOMBIES will not agree with you on this. As for them, anything Buhari does is the best (esp those ABOKIS) until he deplete them to death. Just watch out for their comments and proved me wrong. I still remembered 1984-85, no good economic policies, no jobs created, no meaningful developments, etc its all PROBE! PROBE! and PROBE! FAKE PROBES! And just as it is now, the probes were lopsided committing Southerners to prisons and freeing Northerners until the Counter-coup of IBB came in to remove him(PMB). May GOD deliver us this time around. When you talk, some would think you are one of those that shared the money, not knowing you are telling them the TRUTH that will help them.

naijaboy756:
lucky you!!! My friend is a very smart person. God was good to you to have gotten another job immediately you left. He started his MBA while he was in the bank and will soon complete the program. So you see he is not naïve. The job has just refused to come cos I'm sure he has submitted his CV with most banks around.

What I mean by qualification is that you must have a profession that can fetch you a job almost immediately. Without prejudice to him, if you have Masters in Zoology, Arabic Studies, Animal Science or History, tell me how easy it is for you to get a job? PLS I AM NOT MOCKING HIM; JUST TRYING TO MAKE A POINT. Moreover, looking for job in another Bank can be very frustrating unless you are good and with a good track record. He should look for job elsewhere and should not be proud. I believe God would help him. I first got a job as an Account Officer before moving to another Bank.

naijaboy756:
Another April 2nd approaches.. From an in-house source,it is a ritual in Diamond Bank. They call it TSUNAMI. I heard it is an annual exercise. That is a sad day that many are advised to resign. My friend has a very bad experience about it. This is someone that is a very smart and hard worker, very intelligent individual, whose last annual appraisal was about 88.8%,has not committed any fraud, had no query in his human resources file, gave his life to the job only to be locked out of the system and his boss called to tell him to resign WITHOUT any reason(@ least known to any). The irony of this exercise is that it can affect anyone. This wicked act also has a ripple effect on future job search for the sacked staff. My friend has been faced with the dilemma of explaining why he was asked to resign. He answers that it is a mystery. This unconvincing answer make him loose jobs. And the truth is that he doesn't know why he was sacked. That's double tragedy and has left him devasted.. What can he be telling them as the reason for his sack? Pls note that no fraud was committed, appraisal was very ok.

@Poster, your friend is just being NAIVE and perhaps lacks a good qualification. I was once a victim of such Tsunami but I got a good job almost immediately because I had a qualification (ICAN ATS- then) and I was able to give a good explanation. Today I have moved on and even had higher qualification for any other eventuality. I wished him all the best.

minifuworld:
dont you know that its our external reserve that GEJ is using to defend the dollar then and that is we citizens dont feel it much but now that the external reserve as gone so low what can the present administration do

I thought you guys said Jonathan WASTED the ECA on Campaign and frivolities. So now you know he was using it to defend the NAIRA. And that is what Buhari (thru Emefiele) had been doing since the free fall of the Naira from June 1, 2015 due to a "Lack of good Economic Policy". I pitied you guys who always stand in defence of this INEPT, CRIPPLED, and FRAUDULENT Govt. I pray it would not be too late before you realised you ought to have been holding it accountable for its ACTIONS and INACTIONS. Very soon, if their wives refused to give them food in the home, they would BLAME JONATHAN. BUNCH OF CLOWNS!!!!!!!

sammyj:
Trust the wailers will not feed and die on this matter. However, this is good for democracy since this government listens to his people compared to the last government who decided to listen only after they realised they needed the peoples vote !!!! Thumps up to PMB and his team!!!

WHO IS THIS? Please was the President blind-folded when he first presented the BUDGET? You are celebrating mediocrity, cluelessness, and insensitivity to the Nation by supporting this 'show of shame' the FG had just displayed. Where on Earth have you heard that A Budget presented before the Senate and House of Reps ever got missing thru the BACK DOOR and later found AMENDED? Please name the Country so we can verify. HABA! Have you seen the volume of the book (BUDGET) at all? How can that got missing? Somebody had clearly said that "even if BUHARI should present a Plate of grasses, nails, broken-bottles, sand,gravel and little stool for his APC supporters, they would gladly eat it as a delicious meal. Mtcheew!

Christoskurion:
Under this government,such court injunction is irrelevant. I commend this administration for their effort in fighting corruption but the method is anti-democratic. Our dear president should find a more advance method that is in consonance with our contemporary democratic practice. If those EFCC and DSS handle you,you may even accept a responsibility of an offence you never commit. One may claim that the procedure does not delay justice but it is against the constitution which my able president swore an oath to.

Buhari will soon loose his credibility because of IMPUNITY and contempt of COURT orders. Watch and see. Let me tell that all what the EFCC, DSS and the FG had been saying in the MEDIA (eg NAIRALAND) is what they want people to hear. Have you hear DASUKI speak in the open? Either on TV or in the Radio? If the FG is sure of the media statements they should arraign these people in Court and you will be surprised at the Accusation and Counter-accusations that would come up. That is what the FG is afraid of. Take it or leave. All the MEDIA TRIAL and JUDGEMENT is to decimate the PDP and any other formidable oppositions against 2019 Electtions. We all know that. Very soon people will start singing "NOBODY CAN DO IT BETTER THAN BUHARI". Just watch and see. Thanks

sankky:
Something about this story though...


3000 rescued and 2 terrorists killed during the rescue?
It took 2 terrorists to hold 3000 hostage or what?

That is why it is called PROPAGANDA. Do Boko Haram have the facility to hold 3000 Civilians? Some people here (on Naiaraland) have never been to the North, yet they comment as if they are there. The FG thru the Military must have something to cover up for the rescue of the Chibok girls. Have you forgotten their promises? (2 months to rescue them). They must present something to the gullible and ill-informed Nigerians. Wait, if BOKO HARAM can hold 3000, where do the people in the IDPs camps come from? So many questions to ask. But lets keep it and just watch. Tomorrow you will hear a diff news.

braine:
Lol. What kind of rubbish is this? This is nonsense.

. Dis Govt has successfully deviate d minds of pple (esp d Youths, including Nairaland Mods & other e-populace) frm d real issue dat made dem win d elections. I bet u all, u all will regret ur support for dis Govt. Check all d LIES dey told when dey were campaigning, dey av denied dem all. Yet dey are still dancing wit people's intelligence dat dey would pay N5000 stipends in 2016. The solution to d quagmire d Govt finds itself is "Full Deregulation/Total Removal of Fuel Subsidy". Also, dey shuld privatise d NNPC, build more Refineries & create enabling environmt for Private Investors to build Refineries, then d price will fall on its own. GEJ wanted to do it in 2012 butTinubu and his (now) APC collaborators kicked against it. Now dey are left wit no option dan to go back to same decision dey kicked against then. Dat is y dey are LYING to d pple to see d best way dey can implement it without d pple complaining. 50k removal is nt somthg to rejoice abt becos PMS is already being sold for N200/Litre & it will continue in 2016 evn wit d new price being brandished by APC. And d VICIOUS CYCLE of Lies will continue. Thank you

NavierStokes:


Exactly my response to the guy, a refinery can refine heavy crude oil and you want to feed it with Nigeria's bonny light crude oil, how on earth is it supposed to work. This is just another avenue to meet the Kachikwu's December deadline and make a case why the refineries should not be sold off. Trust me a shortwhile from now we will hear about refineries operating at 1% efficiency. We want this country to work, but some people are hell bent on calling others wailers even in scenarios where we see our very scarce resources going bananas and being allocated to fruitless ventures. The case of 37billion to be spent on oil exploration in the lake chad basin comes to mind, at a time when many Major oil companies are cutting losses by writing off certain investments (Conoco wrote off over 400million dollars invested on a drillship, shell wrote off the canadian tar sands projects, While Nigerian government that claims to be broke and does not have money for cash calls on already explored projects is spending 37billion for desert exploration).

Thank you for this info. That is another means to siphoned money and the foolish APC Supporters would never see this, or perhaps, they are turning blind eyes to it. That's BUHARIGATE! in the making. But trust NORTHERNERS they would never INVESTIGATE this or allowed any Government to do so( because their 'MESSIAH') is involved. N25B PDTF Fund is a good example

happney65:


Bros,now i know you did not watch the video.Please watch the video and come back here please..The Soldiers could even be lynched cos they where wielding cutlass,stones,sticks etc..The COAS Begged them to allow him and he's entourag pass..They where not against their procession,all they needed is to pass..So why did they deny the COAS right of passage?Two wrongs dont make a right..go on with your procession without denying any body the right of passage..I guess if the President is on the same route and some hooligans wants him to turn back he would turn back..Abi no be so?

And am thinking the shia's where the ones that even first attacked the COAS..So if he shoots back i do not Blame him cos you would also do the same.Or do you think Solder's are policemen who go about with rubber bullets?Noooo..These are Soldiers and they go about with Live Ammunition

Abegi,lets be factual with each other here..Like i said,If i was President and my COAS turns back in this case,i would sack him..

Note--Am not a Fan of APC,But saying the truth here..The COAS tried he's best to be civil and begging them that they just needed to pass..he came down,spoke their language to them and implored them.but na so so strong head them dey do...

May they rest in pieces jare..Oshiko

Chairman, many of u sat down in Lagos and think that you know the whole of Nigeria. Have you been to the North before? Is it today that such stupid act started? Answer = NO. You see when you support an evil act simply because the person involved is related to you, the same evil will one day come back to hunt you. I strongly believed if it were during GEJ's admin you would blame the Army for "killing INNOCENT CIVILIANS". Or have you forgotten that a similar thing like this occured last year (though the COAS was not involved then), what was d response of d people (esp Northern Elites)? This is what has been happening every year. I bet you if El Zakzaky died in Army custody today, then BOKO HARAM is just "A CHILD's PLAY" considering the aftermath of his death. I have lived in those areas before and I know what I am talking about. I watched the video and heard what they said cos I understand the language but I bet you El zakzaky MUST NOT DIE in Army's custody (at least not now). Right now Kaduna is 'TENSED UP' and there is a ban on "Religious gathering in the open" till further notice.

Average pump price of premium motor spirit, otherwise known as petrol, across the country in the month of November was N115.35 per litre, up from N93.5 recorded in the preceding month of October.

Interim reports have pointed to further rise this month with the lingering fuel scarcity in most parts of the country.

This is contained in the monthly PMS Price Watch of the National Bureau of Statistics, NBS, released yesterday. The survey does not cover black market.

Surprisingly, the report shows that highest pump prices were recorded in the oil producing Niger Delta states while lowest pump prices were recorded in the North and South western states.

In a state-by-state report, average pump prices was highest in Akwa Ibom State which recorded N187.5 per litre followed by Abia at N146.6, Cross River at N140.4 and Rivers at N139.6 per liter.

The lowest average pump price was recorded in Bauchi State at N91.3 per litre followed by Katsina and Ogun States at N91.5 each.

On the country-wide trend, the current report shows that the average pump price at N115.35 has risen by 23.4 per cent month-on-month, the highest rate so far this year, compared to 13.66 per cent recorded during the petrol scarcity of the last days of ex-president Goodluck Jonathan’s regime.

The current fuel scarcity started during November under review following inability of petroleum marketers to continue supply due to huge outstanding subsidy payment the Federal Government was owing them and also lack of clarity of policy on subsidy payments.

Over N500 billion outstanding subsidy claims are still hanging as at last weekend even after the approval of N413 billion payment by the government last week.

Their concerns appeared worsened by the content of the 2016 Medium Term Expenditure Plan, MTEP, approved by the Federal Executive Council, FEC, last week which shows that subsidy funding was not covered adequately. The 2016 budget would be extracted from the approved MTEP.

Consequently, petrol stations and dealers have been very cautious in the trade and supply at subsidized rate of N87 per litre.

During the month of November, following the fuel crisis situation witnessed in the country, the Nigerian National Petroleum Corporation, NNPC, stated that it distributed 25.539 million litres of PMS to petrol stations across the country but the impact was not felt.

Following the crisis which the government has largely blamed on unscrupulous marketers who engage in hoarding of the products as well as panic buying by motorists, security agencies were deployed to enforce sanity in most petrol stations, while forcing marketers to sell products at official pump price otherwise the petrol stations were shut down.

But despite the efforts by security officials, black marketers continued to thrive as there were seen selling the products in plastic containers on major roads and streets in Nigeria at prices ranging from N150 to N200 per liter. Also many petrol stations still violate the official pump price selling far above the official rate.

Oil marketers had promised to support measures put in place by the Federal Government to end the fuel crisis.

The marketers, at the end of a strategy session convened by the Honourable Minister of State for Petroleum Resources, Mr. Ibe Kachikwu in November to address the fuel situation, pledged to end the fuel queues as soon as possible.

Oil marketers in attendance at the meeting included members of the Major Oil Marketers Association of Nigeria, MOMAN, Depot and Petroleum Products Marketers Association, DAPPMA and the Jetty and Petroleum Tank Farm Owners of Nigeria, JEPTFON.

Speaking on behalf of MOMAN, Femi Olawore, Secretary-General of the Association was emphatic that the majors are willing and ready to work with the Petroleum Ministry and the NNPC to restore normalcy to the fuel situation.

However, one month after this meeting the situation is far from resolutions as scarcity persists across the country while pump prices were still over 80 per cent above the official rate.


http://www.vanguardngr.com/2015/12/petrol-price-reaches-all-time-high-at-n115-per-litre/

Average pump price of premium motor spirit, otherwise known as petrol, across the country in the month of November was N115.35 per litre, up from N93.5 recorded in the preceding month of October.

Interim reports have pointed to further rise this month with the lingering fuel scarcity in most parts of the country.

This is contained in the monthly PMS Price Watch of the National Bureau of Statistics, NBS, released yesterday. The survey does not cover black market.

Surprisingly, the report shows that highest pump prices were recorded in the oil producing Niger Delta states while lowest pump prices were recorded in the North and South western states.

FILE: THE AGONY CONTINUES —The crowd and long queues of jerry cans at Capital Oil filling station, along Lagos-Ibadan Expressway, yesterday. Below right: Stranded commuters' option B in Lagos, also yesterday. Photos:Lamidi Bamidele with NAN.
FILE:
In a state-by-state report, average pump prices was highest in Akwa Ibom State which recorded N187.5 per litre followed by Abia at N146.6, Cross River at N140.4 and Rivers at N139.6 per liter.

The lowest average pump price was recorded in Bauchi State at N91.3 per litre followed by Katsina and Ogun States at N91.5 each.

On the country-wide trend, the current report shows that the average pump price at N115.35 has risen by 23.4 per cent month-on-month, the highest rate so far this year, compared to 13.66 per cent recorded during the petrol scarcity of the last days of ex-president Goodluck Jonathan’s regime.

The current fuel scarcity started during November under review following inability of petroleum marketers to continue supply due to huge outstanding subsidy payment the Federal Government was owing them and also lack of clarity of policy on subsidy payments.

Over N500 billion outstanding subsidy claims are still hanging as at last weekend even after the approval of N413 billion payment by the government last week.

Their concerns appeared worsened by the content of the 2016 Medium Term Expenditure Plan, MTEP, approved by the Federal Executive Council, FEC, last week which shows that subsidy funding was not covered adequately. The 2016 budget would be extracted from the approved MTEP.

Consequently, petrol stations and dealers have been very cautious in the trade and supply at subsidized rate of N87 per litre.

During the month of November, following the fuel crisis situation witnessed in the country, the Nigerian National Petroleum Corporation, NNPC, stated that it distributed 25.539 million litres of PMS to petrol stations across the country but the impact was not felt.

Following the crisis which the government has largely blamed on unscrupulous marketers who engage in hoarding of the products as well as panic buying by motorists, security agencies were deployed to enforce sanity in most petrol stations, while forcing marketers to sell products at official pump price otherwise the petrol stations were shut down.

But despite the efforts by security officials, black marketers continued to thrive as there were seen selling the products in plastic containers on major roads and streets in Nigeria at prices ranging from N150 to N200 per liter. Also many petrol stations still violate the official pump price selling far above the official rate.

Oil marketers had promised to support measures put in place by the Federal Government to end the fuel crisis.

The marketers, at the end of a strategy session convened by the Honourable Minister of State for Petroleum Resources, Mr. Ibe Kachikwu in November to address the fuel situation, pledged to end the fuel queues as soon as possible.

Oil marketers in attendance at the meeting included members of the Major Oil Marketers Association of Nigeria, MOMAN, Depot and Petroleum Products Marketers Association, DAPPMA and the Jetty and Petroleum Tank Farm Owners of Nigeria, JEPTFON.

Speaking on behalf of MOMAN, Femi Olawore, Secretary-General of the Association was emphatic that the majors are willing and ready to work with the Petroleum Ministry and the NNPC to restore normalcy to the fuel situation.

However, one month after this meeting the situation is far from resolutions as scarcity persists across the country while pump prices were still over 80 per cent above the official rate.

OZAOEKPE:

AND HE SHOULD LEAVE OBASANJO, TINUBU, ATIKU AND AMEACHI ROAMING ABOUT FREELY ABI?
YOU BETTER GO GET SENSE......
WHO IS AS CORRUPT AS OBJ IN NIGERIA, OF ATIKU THAT MILKED NAIJA TOOO, OR TINUBU THAT MILKED LAGOS, OR AMEACHI THAT DESTROYED RIVERS.

God bless u. What some pple dont know is dat, this is simply "Vendetta". PMB thru his agents is simply taking vengeance on those he considered as his enemies and his ultmate goal is to either rubbish them or the Jonathan-led administration. Meanwhile nobody is talking about the economy or the state of the Nation again. Prices of commodities are on the increase, no fuel, no money,etc. The FG has siccessfully diverted their attention to a diff thing entirely. May God deliver us because before pple would realise this, I pray this administration had not finished stealing all our money. Tnx

Thanks for this info

SLIDEwaxie:
u're a dunce bro...

think fast...who is an idiot that throws all eggs in a basket? Your type!

the guy is worth billions of dollars and you think he used all his properties and companies for a collateral of less than 5billion?

Be great assured, Honeywell is no more making him proud, that is why...or better yet, this was his plan all along:

collect loan. set up Honeywell...now. sell shares (imagine the cash), then stop paying loan...rack up profit...let the banks have it.

he can't sell without the paying a loan he doesn't want to pay...why worry if u can keep the loan and let the bank worry abt a new buyer?

wake up, it 2015 baby!

This your comment shows you know "next to nothing" in Accounting. You just want to see people comments to your trash. You think you are smart than the Court and your Creditors when it comes to the issue of Bankrutcy? You DECEIVED yourself. Everything you owned home and abroad would be seized from you except "necessities" (Cloths, shelter, Beddings,etc). Anyway, the Court is yet to declare Oba Otudeko 'BANKRUPT', and untill that is done you cannot say he is Bankrupt cos he could have other means to pay back the loan. But the delay means all is not well with him as regards the DEBTS.

SLIDEwaxie:
going bankruptcy is a business on its own. many people don't knw ds...

I bet the guy shld be investigated...he wanted to keep the assets and allow the public (shareholders) to share the loss.

that's the deal behind it.

just imagine i collected a loan of 500k and using a car's papers as a collateral...I invested the 500k in another car and continued using the other one too- I have two cars. eventually, I wld av made more money with both cars by the time the banks come knocking. I will declare bankruptcy but I will keep my cash and the second car!

Oba Otudeko invested the loan in his business making profits but refusing to pay the loan....he had weighed his options well
...


ask Abramnovich of Chelsea how he made his billions!

OLOODOOOOOOOOOOOO!!!!!!!!!!! Where did you studied your own Accounting? For your info. even the other Car would be seized from you and you would be left with nothing. Or dont u know that in Bankruptcy Act, Car is Luxury? For your info, everything you owned will be seized from you. You would only be left with "necessities" i.e cloths, shelter and perhaps little money to sustain you and your family. E.g if you have up to N10m in your personal account everything would be seized and all your properties (including shares in Companies,etc), you could only be given just a little money say N500,000 at most to survive upon. (that is even at the discretion of the Court)

@Op Thanks for these useful advice.

OP. Chairman, there are no contradictions anywhere. Read the pages again and again, and see they are two different scenarios. He said the departments account for their budgets and defended them. In the second scenario he perused and passed on for approval what had already been defended by the various agencies or departments. So, where is the contradiction? Always check and verify write-ups well before crying foul.

modath:
Seems everyone is running away from Hero's legacy, found this on @ayedee 's twitter page....


https://twitter.com/MrAyeDee/status/667230748018102272

harrysterol:
This is Wickedness, how will you call that thing a Power Bike?

Op btwn what you posted and the power bike (yamaha r6) below do they look alike? That an insult to Power Bikes

Let us stop celebrating Mediocrity

Enemy of Progress. Have you asked to know how the first Power Bike that was made look like? Go and do your own and lets see how it will look like.

olapluto:
This lends credence to the good work of the army under Buratai. everytime they come out to day they've destroyed factory, I knew it was a big thing of concern to them.
Having said that, BH can have 1 million rockets, but if they have no platform to launch it, it becomes useless!

OLOODO!!!!!!! What does it take to launch a Rocket? Just a little effort. A little space is enough to launch it. You can even place it behind your house. Remember Israel -Palestinian War 2015 (GAZA CONFLICT). You can launch rocket from any where. I have been saying it that the worst thing for the Nigerian Military is for BOKO HARAM to developed or have access to Rockets. They would simply become invincible. Nigerian Army (under Buratai) kept deceiving us with fake pictures and videos. If this story is true, then Nigeria should brace up for an unending war between BOKO HARAM and the Military.

obailala:
A clueless leader right?

I can bet you that in the administration of all the past Nigerian leaders, including and especially during the reign of your hero GEJ, NNPC and the FG could not even account for how much they were losing. Yet you think they were 'clue-full' and this administration clueless?

Routine losses from oil theft alone in the last 5 years stood at a staggering 400,000 barrels per day (appx $40million per day). If you do the maths for a period of 8months, that amounts to approximately 1.9Trillion; and this is from crude theft alone, not even mentioning every other gaping financial holes the NNPC under other administrations were known for. Yet someone thinks they were 'clue-full' and this administration clueless?

What we have here is simply a leadership which for the first time in Nigeria's history, now infuses financial accountability and transparency in its dealings. For the first time, someone is now making efforts to estimate and publish the estimated losses from the inefficiency in the system.

A wise man knows the first step in solving a lingeting problem is to first define and quantify its extent. But unfortunately, someone who appears to be possessed with the spirit of non-discernment thinks this sort of approach is a sign of cluelessness?

You are more CLUELESS than the people you are trying to defend. Do you know how many barrels of crude that is being lost everyday since the advent of this administration? Is it because the Govt and its propagandish machineries decided to bury that news? Are you working there? I can tell you that thousands of Barrels of Crude Oil is still being stolen everyday but the Govt made sure the Press dont report about it.

stanech:
Welcome to the comedy republic of Nigeria

. Boko haram members are running away.
. We have defeated boko haram
. We need foreign aid to defeat boko haram
. We are negotiating with boko haram


Normally GEJ is blamed for all the bombing but now he's cooling off in his village.

Now what we just do is avoid talking about it and pretend it didn't happen @ all.

The next phrase now is *"Shekau is not our problem". Deceivers deceiving themselves. Nigerians dont know that this is Northern Propaganda machine: "When they are in power, suffocate information going to the Public, but when they are not there, shout and cry to high heavens against the Government in Power for everything.

makzeze:
Marilyn's sister joined the DSS through the back door, so as the other sacked trainees.

what a welcome development.

How is this a welcome development? The North is gradually taking over the Country and we are applaudimg them. This is how they took over the Military years ago not until the advent of OBJ and GEJ. Now they have started again all in the name of fighting Corruption and we are not seeing anything wrong with their actions. Well, I pray we don't regret it in future.

midolian:
Ibrahim Lamorde, chairman of the Economic and Financial Crimes Commission, EFCC, has stated that currency declaration by travellers out of Nigeria amounted to $12.058 billion in three years.

He made the disclosure in Abuja at the opening ceremony at the opening ceremony of a five-day inter-agency training programme on, Cross Border Financial Investigation organized by the United States Department of Homeland Security.

It was organised for officers of the Nigeria Police Force, NPF; Nigeria Immigration Service, NIS; Nigeria Customs Service, NCS; National Drug Law Enforcement Agency, NDLEA, and the EFCC..

Lamorde said currency declaration in 2012 was $9.9 billion. In 2013, it dropped to $1.324 billion as Nigeria stepped up surveillance at the airports.

“There was a further drop in 2014 as currency outflows recorded an all- time low of $807,585,061.70″.

He called for improved financial intelligence gathering by the anti-graft agency and other law enforcement agencies in the country to check flow of illicit funds, if the war on terror must be won.

“A reputable strategy to fight insurgency is to deprive the insurgents of funds, because there is no dispute that illicit funds movement across borders fuels organized crimes, including terror attacks and insurgency in Nigeria,” Lamorde said.

According to him, “There is an urgent need to strengthen our financial intelligence architecture to enable us effectively monitor cash trails and check illicit cash flow to organized criminal gangs.”

“Up till now, the major concern in the fight against insurgency is on how the insurgents fund their operations within the sub-region.”

“While tremendous progress has been recorded in strengthening the Anti-Money Laundering Regulations and the Compliance Regime in Nigeria, monitoring the movement of cash outside the financial sector, remains a major challenge, because of Nigeria’s predominantly cash-based economy,” he said.

The EFCC boss, also applauded the commitment of the United States government in assisting Nigeria surmount its contemporary challenges through institutional development.

“it is gratifying that this programme is coming a few weeks after the historic visit of President Muhammadu Buhari, to the United State, where he and President Barack Obama pledged to deepen the cooperation and friendship between our two countries”.

Lamorde who said he had always considered the United States as a dependable ally in the fight against economic crimes and corruption in Nigeria, explained that the record of partnership between the EFCC and major US institutions, such as the Department of Justice, Federal Bureau of Investigation, FBI, United States Postal Inspection Service, United States Secret Service, among others, bears testimony to this.

He said the EFCC has benefitted from many training programmes organized by US agencies in Nigeria, Ghana, Malta, Botswana and the United States. He however described the impact of such exposure on the operations of the Commission as invaluable.

He said while tremendous progress has been recorded in strengthening the anti money laundering regulation and compliance regime in Nigeria, monitoring the movement of cash outside the financial sector, remains a major challenge, considering that Nigeria is still predominantly a cash-based economy.

His solace is however in the fact that the EFCC, in collaboration with the Nigeria Customs Service and the National Drug Law Enforcement Agency, NDLEA, have in the last few years taken very bold step to check illicit movement of cash across our borders; where operatives stationed at major international airports across the country have intercepted millions of dollars in cash, which were not declared to customs by their owners.

Deputy Chief of Mission, United State Embassy, Maria Brewer said that the training programme will expose participants to new trends and techniques in combating economic and financial crimes. “Since economic and financial crimes is a global phenomenon, the training will focus among others, on taking away proceed of crime, because when you take away the money, you take away why people do crime”, she said.

Other dignitaries at the opening ceremony included, Benjamin Bryan, acting director, International Narcotics and Law Enforcement US Mission Abuja; Steve Robinson, Attaché, Department of Homeland Security Investigation, DHSI; T. A. Hundeyin, Deputy Comptroller General of Immigration, who represented the NIS boss, and Alhaji Hamisa Lawal, Commander of Narcotics, who represented the NDLEA boss.

Highpoint of the ceremony was the donation of a high-tech counting machine to the EFCC. Brewer, who made the presentation on behalf of the US government, said that it was one way, in which the President Barack Obama-led administration, planned to assist the EFCC and the country at large in fighting corruption.


http://dailypost.ng/2015/08/18/12billion-taken-out-of-nigeria-in-three-years-efcc-boss-lamorde/

LAMORDE is just acting out the Northern Agenda, which is "To discredit Pres. Jonathan and his Administration in order to facilitate their own looting in the guise of FIGHTING CORRUPTION. No meaningful development will be done as the Govt. would claim there is no money to run its affairs (It has already proposed to increase Value Added Tax (VAT) from 5% to 10% because it needed money to meet up its financial obligations). Pls can smne asked Lamorde where was he all these years that he did not give these information until now? Who was the EFCC Boss during the period in question? How will these revelations and analyses help to curb corruption and inflation already ravaging the Country? In what way will the Present Administration benefits from these revelations? etc. I am sure by the time PMB (and APC) would have finished his tenure, informed Nigerians would have realised that they have made a bigger mistake voting them (APC) into Power. Much as I agreed that there were corrupt Politicians in PDP, the APC itself was no "SAINT" but a bunch of Looters disguising as agents of CHANGE. May the LORD help us in Nigeria.

laudate:


No, you are the one that is thinking like 'a small man'. And it is that mediocrity that oozes from your words. So, because a man attends Harvard, you feel it gives him the right to toy with the fortunes of an entire corporation, and destroy the lives and careers of 1,000 people in one fell swoop? Even in America where Harvard is located, such things cannot be done in just 1 week, or you would be hit with multiple law suits from every corner!

Like I explained in my very first post in this thread, there is a process and procedure for carrying out such things in a structured manner. You do not just get into a seat or position of power, and the first thing you do is to lay off people in under 1 week. Is he an undertaker sent to supervise the demise of NNPC?

My Brother, the GMD is doing the bidding of the Man(PMB) who puts him there. Very soon NNPC will be taking over by 70% Abokis again. Remember, it was OBASANJO that flushed out most of them about 16 years ago (although, it was through a gradual process). Then we had a Manager who cannot signed his name but can only use THUMB PRINT. And he would argue that, it is better than his signature. Much as I agree with him, the only problem is that, he is not educated not that he preferred thumb print. Now they want to take the front seat again. CHANGE INDEED!!!!

jamace:
Oh, the good old days.

YOU ARE ON POINT MY BRO. GOOD OLD DAYS INDEED!!!! Not these days when instead of making life easier for the Populace, our Politicians are busy FIGHTING over how to share positions (invariably -our money) in the NASS and our President is still busy 'THINKING' on what to do with REALITY OF GOVERNANCE in the 21st Century. NO THANKS TO THE MANY YEARS OF BAD LEADERSHIP BOTH UNDER THE MILITARY AND THE CIVILIANS.

shamsuRana:
Superstitions sells alot in Africa.

ESPECIALLY AMONG THE YORUBA PEOPLE. I first heard of that 'magical Crocodile' -carried by Aguiyi Ironsi- in the Yorubaland. No disrespect for the Yorubas in anyway.

Obiagelli:
Officially, Nigeria exports 2 million barrels of crude oil
daily. At the current price of 60 US dollars per barrel, that
translates into 120 million US dollars.

120 million x 365day = 43,800,000,000

43 billion dollars @ 60% ( rumoured sharing formula between Nigeria and oil companies)

That means Nigeria makes 25.8 billion dollars annually.

$25.8 billion x 200 naira = 5.1 trillion naira.


Nigeria's 2014 budget was N4.6 trillion meaning we still have about 0.5 trillion naira change.
www.channelstv.com/2014/04/09/nigerian-senate-passes-4-6-trillion-naira-2014-budget/


FEDERAL INLAND REVENUE

Nigeria generated N4.69tn Revenue in 2014

www.thisdaylive.com/articles/firs-generates-n4-69tn-revenue-in-2014/200484/

Adding N4.69 trillion (firs) + 5.1 trillion (crude oil) = 9.79 trillion.

If our budget was N4.6 trillion then we have a balance of 5.1 trillion naira that nobody accounts for.

Barcanista asked where we will find 1.8 trillion to take care of our most vulnerable citizens, this balance of 5.1 trillion will be taken away from the pockets of criminals and militants.




EDIT.


I forgot the FG gets 52% of total income, even at that we have a balance of 0.6 trillion naira which is sufficient for the first stage of the social programs.
The APC government has said one of its major income earners is the mining industry.

This plans with financial discipline is very much achievable.

Please note that my analysis is based our major source of income ( oil and taxes), i have not touched other income earnings.

OLOODO!!!!!!!!!! You based your calculations on N200 to $1 which you felt is too high and which made you to vote for CHANGE. Now, let me ask you just a few questions. If Buhari shd make $1=N1 (as promised), how realistic is your calculations? If the Price of Premium Motor Spirit (Petrol) is reduced to say N60, how do intend to achieve your goals because rmba FG will have to pay for Subsidy. Even if $1=N50, do you think these your spurious calculations and assumptions is achievable going by the fact that there is global economic crises? Have you read other People's comments to see all the avenues through which Govt. spend money? Or do you think the FG will abandoned every other important issues and just face one stupendous, unrealistic and unsustenable project of feeding School children and paying unemployed Youths and the Elderly? THINK OBIAGELI. THINK VERY WELL. SLEEP AGAIN AND THINK BEFORE MAKING ASSUMPTIONS, OR ELSE GO BACK TO YOUR TEACHERS AND ADVISERS. Thanks

Can u just prove ur missing monies? Some of u just quote u see or hear from some wicked pple without thorough investigation. The Pricewaterhouse Coopers (Chartered Accountants) forensic audit shows only $1.2b needed to be accounted which was duly defended on the floor of the house by both the NNPC and the Minister of Petroleum Resources. I personally can tell u dat no money was missing. It was all political gimicks and game to win the sympathy of the Populace. Did u really listen to SLS in those days? First it was $49.8b, then $12b. All of sudden, after agreeing with the submission of NNPC at the floor of the house that no money was missing, SLS came out to say he's still looking for $20b. Pls who is deceiving who? Thanks

Jesusloveyou:
$20b missing na him,wasting our $47b foreign reserve na him,$20b excess crude acc wasted na him,$10b swf vanish na him,30tr naira accrue to federal govt for 6yrs,misappropriated and mismanaged na him.get some sense, biko

We are surely in the endtime, either this is true or not it makes little difference (though I doubt personally), bt one thing is for sure demons parading themselves as dead humans are living amidst us (the spiritual world exist n it is more real than this physical world) and we are living at the end of days.

Repent for the kingdomto of God is at hand, accept Jesus today as your lord and personal savior n be saved and safe!

Things like this can only happen here in the West where they believe so much in GHOSTS. Up there in the North, U can hardly hear stories like these. If anyone tries that, BOKO HARAM WILL BOMBED HIM/HER. LOL