₦airaland Forum

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Buhari wants to make Nigeria a better place. God help him!!!

http://blogs.premiumtimesng.com/?p=169693

On the February 8, this year, in the heat of politicking for the presidential elections, I had cause to publish an article titled, So Who Stole Nigeria’s Trillions? It was on the back of serious allegations levied by the former CBN Governor, now Emir Muhammadu Sanusi II, to the effect that some $20billion was missing from the coffers of the nation.

Another cerebral gentleman, Professor Charles Soludo, had weighed in and probably stepped up the heat, that Nigeria had lost about N30Trillion to mismanagement, fraud and embezzlement within a four-year period. Because these two men had managed the nation’s finances at a very high level, I naturally took them serious and examined what exactly they were trying to say, especially Soludo’s fantastic intervention.

Around the same time, the Federal Inland Revenue Service (FIRS) announced its performance for the year 2014, which was N4.69Trillion. The entire federal budget for the year 2014 was N4.695Trillion, which was almost exactly what the FIRS collected, even though FIRS collection gets shared among three tiers of government. The government of the day explained that its entire revenue was N10Trillion, N3.73Trillion of which was due to the Federal Government while the balance was shared to other tiers of government. For the year 2014, the federal government had a total revenue of N3.73Trillion but spent N4.695, thereby incurring a deficit of almost N900billion which had to be financed through borrowing.

The question reared its head as to whether FIRS generated almost 50 percent of the nation’s total revenue. This couldn’t be so, given that Nigeria parades hundreds of revenue-generating departments and agencies, which represented it in almost every facet of our lives. What was happening to those monies? What was happening to funds generated by NNPC, NPA, NIMASA, FAAN, NCAA, Nigerian Customs, Nigerian Immigrations and many more? As a matter of fact, for that same year 2014, the Customs projected a revenue of N2Trillion but managed an Actual of N977billion.

In a report titled “Poor Remittance of Internally Generated Revenue to the Consolidated Revenue Fund (CRF) by Government Owned Agencies”, the committee further identified the agencies as those that submit their expenditure profiles with the aim of utilising the revenues they generate.
 For instance, the report showed that details from the Budget Office of the Federation indicated that NNPC in 2012 budgeted N347 billion as operational income, and planned to spend N305 billion in the same fiscal year…. In 2013, they projected an operational income of N626 billion, while planning to spend N618 billion…. NPA revenue projections in 2012 was N106.27 billion, while its planned expenditure was N160.61 billion.

In 2013, its budgeted revenue was N155.95 billion and planned expenditure was N134.92 billion…. FAAN’s revenue projections for 2012 was N39.60 billion while planned expenditure was N36.23 billion, and in 2013, projected revenue was estimated at N48.78 billion, while its planned expenditure is N48.78 billion,” the report showed.Performance for the fiscal year 2011 showed that of the 36 agencies, it was discovered that N125.6 billion was generated and only N11.8 billion or 9.41 percent was remitted to the treasury as operating surpluses or dividends.”

So, not only were monies not remitted to the right account, they were fully spent by the same agencies that generated them. This has now been curbed by the TSA. Can you see some of the magic already?

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I hope the Petroleum and Finance Minisyer can see the great challenges we are going to face as a country. We need to diversify fast and into heavy industry and not agriculture!!!

http://nypost.com/2015/11/17/how-soccer-players-benching-paved-way-for-30-billion-idea/


A bench-warmer on one of Europe’s biggest soccer teams might be worth more than the American billionaire who owns the team — and he kept his fortune a secret from his friends, family and teammates for seven years.

Mathieu Flamini, a 31-year-old Frenchman who currently plays for Arsenal, secretly created a company that made a scientific breakthrough that could bring an end to the use of fossil fuels.

Flamini’s company, GF Biochemicals, announced Monday it had figured out how to mass-produce levulinic acid, an organic compound that can replace oil in all of its many forms.

In theory, GF Biochemicals’ discovery means an end to gasoline, biofuels and plastics as we know them. It also means Flamini’s company could be the first entrant in a brand new market worth upward of $30 billion.

Not bad for a guy who once jilted Arsenal for Italian giants AC Milan back in 2008.

At the time, Flamini was the engine of Arsenal’s midfield, but left the club after failing to negotiate a new contract.

Instead of us putting french flags we should put nigerian flags the carnage is appalling!!!

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Boko Haram must be crushed by December as they have become now a global menace.

May God help us

http://www.ibtimes.co.uk/boko-haram-overtakes-islamic-state-worlds-deadliest-terror-group-1529064


The number of people who lost their lives due to acts of terrorism increased by 80% in 2014, while militants belonging to Boko Haram and the Islamic State were responsible for most of the killings. The two terror groups had claimed 51% of all global deaths, reveals a study.

According to an Institute for Economics and Peace (IEP) report, Boko Haram has overtaken Islamic State (Isis) as the world's deadliest terror group. The third edition of the Global Terrorism Index report further suggests that 32,658 people were killed by acts of terrorism in 2014, which in 2013 was pegged at 18,111.

Also, 78% of all deaths and 57% of all attacks took place in Afghanistan, Iraq, Nigeria, Pakistan and Syria.

http://www.vanguardngr.com/2015/11/new-attacks-being-planned-in-france-europe-french-pm/

French Prime Minister Manuel Valls said Monday that authorities believe new terror attacks are being planned in France and in other European countries following the carnage in Paris.

“We know that operations were being prepared and are still being prepared, not only against France but other European countries too,” he said.

‘Terrorism’ could hit again ‘in days or weeks to come’

And that Paris attacks was’planned in Syria’

People should pay attention to what Mossad is saying and prevent a second attack please

According to the Israeli intelligence media arm DEBKAFILE


http://app.debka.com/p/article/25022/French-President-Hollande-was-top-target-in-multiple-terror-atrocity-in-Paris


The geography of the six Paris locations targeted by terrorists Friday night points to precise advance planning in support of a primary target, namely, French President Francois Hollande, while at the same time sowing bloody havoc in the French capital, frightening tourists away and shaking the French governing system to the core. The cost in lives has not been finally tallied. Estimates range from 127 to 153 with dozens of people injured.


debkafiles counterterrorism sources note that the parties who orchestrated the deadliest terrorism attack on any European capital took into account that President Hollande would be attending a friendly French-German football match at the Stade de France, presenting them with a high-quality target for assassination or capture as their hostage.

Saturday, the president was the first French official to explicitly accuse ISIS of commiting an act of war against France.


One of the terrorists shouted before he died;Francois Hollandes foreign policy is to blame! Another was reported by a witness as shouting "This is for Syria!" while spraying gunfire in one of the targeted restaurants:

The other attacks on at least six locations were a kind of vicious subplot with the dual purpose of bloody terror per se as well as a diversionary tactic to confuse French security forces and keep them running around in several directions. The presidents bodyguards were meant to be distracted by two earsplitting explosions staged by two suicide bombers outside the stadium.

The guards however quickly whisked the president out of the stadium in time to escape harm.

Whatever their primary objective, coordinating so many simultaneous terror attacks by a large team called for months of preparation, precise intelligence, a variety of weapons and a large team of dedicated killers backed by exceptional staff work and organization.

Our analysts attribute the multiple assaults to a collaborative effort between Al Qaeda and the Islamic State. Together they were capable of putting up the necessary resources which included: -

1. A group of at least 20 terrorists for executing the six attacks. The French Prosecutors office reported Satuday that seven died in suicide bombings and the eighth was killed by security forces when they raided the concert hall, where dozens of hostages were being killed. Others may still be at large.

Our sources suspect that the survivors of the group are lying low and may be planning to emerge for a second round of atrocities in the coming hours or days, like after the Charlie Hebdo episode ten months ago, which was quickly succeeded by a massacre at the Jewish kosher store.

2. A second group of back-up confederates was made up of drivers, who drove the terrorists to the scenes of attack and were ready to extricate any survivors. They handed the attackers their bomb belts, automatic weapons and explosives and acting also as spotters who watched and recording the movements of French security forces. They also photographed the incident.

3. A command group planned the attacks, enlisted operatives, directed and coordinated them, and maintained communications among the different teams.

At least 200 operatives at various levels were completely in the picture and directly involved in at least two months of advance planning.

The night of November 14 will be remembered for the failure of Frances Director-General for Internal Security (DGSI) and Director-General for External Security (DGSE) or their refusal - to pick up the slightest clue to the massive preparations afoot for a horrendous, wide-scale terrorist outrage against their capital city.

This video is so sad. What can make men turn into animals like this??

https://www.youtube.com/watch?v=cHLdslTccxE&ebc=ANyPxKoZPGTOhOIfCAjkiT07lSZK9eau-JosPgrPEaucT2iErQQpr7qcfundpeXy2BhAVOmIZAbk

May the wrath of God consume these terrorists, Amen!!

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Oil stockpiles have swollen to a record of almost 3 billion barrels because of strong production in OPEC and elsewhere, potentially deepening the rout in prices, according to the International Energy Agency.

This “massive cushion has inflated” on record supplies from Iraq, Russia and Saudi Arabia, even as world fuel demand grows at the fastest pace in five years, the agency said. Still, the IEA predicts that supplies outside the Organization of Petroleum Exporting Countries will decline next year by the most since 1992 as low crude prices take their toll on the U.S. shale oil industry.

“Brimming crude oil stocks” offer “an unprecedented buffer against geopolitical shocks or unexpected supply disruptions,” the Paris-based agency said in its monthly market report. With supplies of winter fuels also plentiful, “oil-market bears may choose not to hibernate.”

Total oil inventories in developed nations increased by 13.8 million barrels to about 3 billion in September, a month when they typically decline, according to the agency.


http://www.bloomberg.com/news/articles/2015-11-13/iea-says-record-3-billion-barrel-oil-stocks-may-weaken-prices


http://www.zerohedge.com/news/2015-11-13/oil-bears-may-not-hibernate-inventories-swell-record-3-billion-barrels

Are we safe?

The 8 trillion naira 2016 budget is going to prevent that!!!

Thank God for preventing another Disaster!!!

The reporting team discovered MTN revenue producing companies operating in Ghana, Nigeria, Uganda and Cote d'Ivoire made substantial payments to offshore companies in Dubai and Mauritius. These payments were counted as a cost of business for the operating companies, lowering their profits and potential tax bill.

The enormous sums were purportedly for management and technical services performed on behalf of these companies, as well as royalty payments for the use of the MTN brand. In Ghana, these payments accounted for more than 9% of the turnover of the company.

African journalists in Ghana, Nigeria and Uganda working with Finance Uncovered discovered that 55% of management and technical fee payments are directed towards MTN International, a company based in Mauritius. The Mauritius company has no staff and is little more than a post box. The remaining 45% was routed to MTN Dubai, where the company employs 115 staff who provide shared services to the group.

MTN told reporters that MTN International remunerates companies in South Africa for management services performed on behalf of the company. They were unable to answer why the payments were made to Mauritius first.

South Africa's deputy president Cyril Ramaphosa--long seen as the most likely next successor to president Jacob Zuma--has seen his name caught up in another corporate tax dodging allegation, this time with Africa's largest mobile phone company MTN.

Last week Friday, amaBhungane, an investigative journalism organization, and Finance Uncovered, a global network of journalists, published a story alleging that Africa's largest mobile network, MTN, was involved in shifting millions of dollars from its subsidiary companies in Nigeria, Uganda, Côte d'Ivoire and Ghana to companies in Dubai and Mauritius in order to avoid its tax obligations. This all happened under Ramaphosa's watch, as he was chairman of MTN's board of directors, between 2001 and 2013.

In September last year, South Africa's Mail and Guardian reported that Lonmin--a mining company which Ramaphosa was a board member of between 2010 and 2013--was involved in a scheme to move profits generated from its platinum mining activities in South Africa to Bermuda.

While Ramaphosa, one of South Africa's richest men, has taken a strong public stance against tax avoidance as deputy president it doesn't seem to be in tune with his former life as a captain of industry. It is also causing a revision to the expectation that he is next in line when Zuma's term ends in 2019.

According to the report, MTN subsidiary companies in Nigeria, Uganda, Cote d'Ivoire and Ghana paid "management fees"--which according to MTN cover for elements like back office support, technology transfer (to subsidiary companies) and use of the MTN brand.

While it is common for telecom companies to charge their subsidiaries management fees--as MTN itself argues in a response to a set of questions asked by the investigative team--the bone of contention is whether the large sums of money flowed to "real offices staffed with people doing actual work to earn the money" as the investigative report states.

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What is he going to Lagos for

He must be well interrogated to foil any future attacks!!!

•Nabbed while attempting to board plane to Lagos

By Dele Ogbodo and Senator Iroegbu in Abuja

A suspected Boko Haram member on the list of wanted 100 terrorists whose photographs and names were recently released by the military was on Sunday arrested at the Nnamdi Azikiwe International Airport, Abuja (NAIA) by AVSEC, the security arm of the Federal Airports Authority of Nigeria (FAAN).

The suspect, Chindo Bello, was arrested while attempting to obtain his boarding pass for an Aero Contractor airline flight to Lagos. He is currently being interrogated by the military intelligence.

Sunday’s arrest is the second in recent times at the Abuja Airport, coming less than two months after a combined team of the military and FAAN officials nabbed a young man said to be monitoring movements at the airport for Boko Haram.

Confirming the arrest in a statement following THISDAY enquiries, the Director of Army Public Relations (DAPR), Col. Sani Usman, said: "The declaration of 100 suspected Boko Haram terrorists has started to pay the desired dividend as one of them was arrested as he attempted to flee.

"Today at Nnamdi Azikiwe International Airport, Abuja, a man suspected to be one of the declared wanted suspected Boko Haram terrorists, Chindo Bello, was apprehended by Aviation Security as he was boarding Aero Contractors’ Airline flight to Lagos. The suspect has since been handed over to the military intelligence for interrogation and prosecution."

The army spokesman commended those he described as eagle-eyed, patriotic security agents and good citizens for the tip-off that led to the arrest of the suspect.

Speaking on condition of anonymity, another FAAN staff who narrated how the suspected Boko Haram member was caught, told THISDAY that at about 11am (Sunday), a grey-coloured Toyota Hiace bus, driven by a man in army uniform, drove into the airport to drop the suspect and immediately sped off.

“He (driver) never wasted a minute at the airport,” he said.

Continuing, he said the suspect immediately headed to Aero Contractors counter to procure his ticket. He added that because of the long queue, the suspect went outside for a walk where he saw the list of the 100 wanted Boko Haram suspects on the display board.

On sighting his name and picture on the display board, he stepped a few metres away to make a call to some of his members on the development at the airport.

“See this useless people displaying our pictures here at the airport,” he said in Hausa language, a source told THISDAY.

While the conversation was ongoing, and unknown to the suspect, a FAAN security official kept trailing him. By the time he made his way to get his boarding pass, he was interrogated and arrested by officials of FAAN.

One of the passengers who volunteered to speak on condition of anonymity and who was on his way to Lagos, lamented the situation, adding: "Coming within a space of two months is one incident too many.

Government should direct its attention to securing the lives of Nigerians who use the airports.”

http://www.thisdaylive.com/articles/wanted-boko-haram-suspect-arrested-at-abuja-airport/225134/

Mod, front page please!!

Let us stay objective and not claim people are haters