₦airaland Forum

So is the EFCC setup to make deals with suspected criminals?

Image123:
Unfortunately for him, he could not explain like you to the EFCC.

https://www.channelstv.com/2024/04/05/bobrisky-arraigned-pleads-guilty-to-naira-abuse/

The EFCC had filed a 6 count charge against Bobrisky. The first 4 counts of the charge bordered on abuse of the Naira while the last two counts border on alleged money laundering.

But before the charge was read to the defendant, the EFCC prosecutor, Sulaiman asked the court to strike out counts five and six.

He said, “We have an agreement with the defendant which will lead us to withdraw counts 5 and 6. In the circumstance, we’re humbly urging the court to strike out counts 5 and 6, leaving counts 1 to 4 alive”.

When the registrar asked if he understood the charge that was read to him, he said, ” Yes, I am guilty”.



NOTE THAT for money laundering, punishment is imprisonment for a term of not less than four years but not more than fourteen years or a fine not less than five times the value of the proceeds of the crime or both.

He could have been holding the rope out of panic but the bottom line is where was he looking to have ran into an incoming canoe?

McStoic:
You didn't listen at the beginning where said T Virus was holding the rope he would have used to manoeuvre away?

Akpata will win the Edo State gubernatorial election.

I guess she adopted her boyfriend

Obi is not desperate so if he is not president, thats ok. He was a two time gov, thats sufficient. I'm sure nobody in your family has attained the height of local govt chairman

However, APC has ruined Nigeria and you know it.

ObiCertificate:
I’ve never said so and that’s not the subject of the thread.

You can open another thread for that.



You’re 💯% correct my brother.

For 9yrs APC keep saying crude oil price is low...how is that possible? The average price of crude oil in the 9yrs of APC is probably higher or same as the average price during the 16yrs of the PDP.

If successive APC govts are unable to achieve 2.2 million barrels per day, whose fault is that?

If you really care about Tinubu's rating, advice his govt to bring prices of goods and services to below how he met them because every person who understands gap analysis will always do the before and after. No explanation is needed to justify why the after is not better than the before no matter how beautiful the reasons may be.

The reason Nigeria has been progressively falling is because the before is always better than the after

Iamgrey5:
Exchange rate was around 700 to 800 before Emefile's departure without the subsidy.

That is exactly where it's heading again.

Nigeria oil production has fallen from the close to 3 million barrels in year 2015 to 1.5 to 1.7 and price of crude oil is not at 100 dollars per barrel as it was in 2015. So I don't know how you want CBN governor to return the rate to 250 to a dollar.

The Nigerian budget has also grown without substantial growth in TaX income and GDP.

Anything above $216 APC met it is unacceptable! So far Emefiele performed better because exchange rate was around N500.

Whatever money you think Cardoso is saving is being looted by Tinubu and Gbajabiamila so it doesnt impact the common man

Iamgrey5:
I really doubt you know anything about economics

Cardsoso sells at 1150 but the real market settles around 1050 naira. That is what is called market forces determination of price( it shows demand is lower than supply)


The moment Cardsoso sells at 750 but the reaction in the market is to sell at 753 Naira to Nigerians, That will simply mean supply and demand of dollars in the Nigerian economy is at almost or at equilibrium.

This is a complete departure from Emefile' policy who fixed the rate at 450 while the real market kept tumbling upon to it got to 750 naira.

The 300 naira that is in the middle is the subsidy CBN was paying on the Naira, So he was borrowing to cover the 300 Naira that only few Nigerians benefit from.

None. Why should I be pained, am I in their marriage with them?

TruthsFM:
Which celebrity breakup pained you the most?

There is no insult in my posts. You cannot approbate and reprobate at the same time.

How can you support Buhari for 8yrs and turn around to say he handed over a dead economy to Tinubu? Its mental illness and I'm not mincing words

ObiCertificate:
I think this may have flown over your head sir.

Make I amplify am for you.

The explanation is trying to gaslight me using jargons. Bottomline is Cardoso is spending dollars to defend the naira. That was what Emefiele did

DevilsEqual:
He explained to u using basic economics terminology and to counter him, U just went straight to repeating the vague and unrelated stuffs you've been saying since morning

Where did it say this birrowed money was used to defend the naira?

Iamgrey5:
Extract from report sir


The central bank also reported borrowing $7.5 billion from U.S. banks JP Morgan and Goldman Sachs by pledging securities, and entered into 30-day forward contracts totalling 3.15 trillion naira in 2022

You're gaslighting yourself bro. Cardoso is doing exactly the same thing. When Cardoso sells $ at a certain price, thats fixing $ at that price, all other things you're saying is verbiage

Iamgrey5:
Cardsoso is not doing exactly the same.

Hence, your currency was allowed to fall to 2000 naira before CBN will start intervention in the market.

The CBN now wants metrics like Market forces i.e (equilibrium of supply and demand), the rate at which CBN can also defend without borrowing to determine the new dollar/Naira rate.


It's no longer artificially set at a given price where they have to defend it recklessly.

Defender! Potato must potate!

Dreal1247:
If you are not mentally balanced, you won't understand that Reno is a businessman who has monetized his social media pages. All the cyber bullyings are attracting traffic for personal Financial gains

So Emefiele was the one thing that made Buhari's govt failed? Other govt officials did well?

I'm asking because it seems Emefiele was the president!

Triton1996:
Mr Emefiele pleaded not guilty to all the fresh charges, marking the beginning of the second fraud and corruption case filed against him by the EFCC since his indictment as a special investigator.

Former Central Bank of Nigeria (CBN) Governor Godwin Emefiele, on Monday, appeared before the Special Offences Court in Lagos, where the Economic and Financial Crimes Commission (EFCC) presented 26 charges of fraud and corruption against him.

Mr Emefiele pleaded not guilty to all the fresh charges, marking the beginning of the second fraud and corruption case filed against him by the EFCC since his indictment by Jim Obaze, a special investigator engaged by President Bola Tinubu to investigate the activities of the CBN on his watch.

EFCC is prosecuting Mr Emefiele at the High Court of the Federal Capital Territory in Abuja over his alleged corrupt activities as CBN governor, which terminated in June last year.

The fresh charges against him in Lagos include abuse of office and irregular allocation of cumulative $4.5 billion and £2.8 billion while he was in office as CBN governor.

EFCC also accused him of corruptly receiving funds, conferring advantages on associates, and allocating forex without a bid.

The prosecution alleged that he corruptly received funds from companies like NIPCO Plc and Raja Punjab and conferred corrupt advantage on his associates, including Limelight Multidimensional Services Ltd, Adswin Resources Solution Ltd, and COMEC Support Services Ltd.

The arraignment occurred before the trial judge Rahman Oshodi, who subsequently ordered the remand of Mr Emefiele in EFCC custody until 11 April, when the court is expected to rule on his bail application.

Before charging him afresh, the EFCC was already prosecuting him in an ongoing trial at the Federal Capital Territory High Court in Abuja.

In the Abuja case, the anti-corruption commission EFCC accused the former CBN governor of criminal conspiracy, conferring undue advantage, and breach of trust, among others.

The commission, in the amended charges, increased the number of counts from six to 20, and dropped a former co-defendant’s name, Sa’adatu Yaro, from the case.

In some of the counts, EFCC alleged that Mr Emefiele, in January 2023, forged a document titled, ‘Re: Presidential Directive on Foreign Election Observer Missions,’ dated January 2023 with reference number, SGF.43/L.01/201.

The EFCC alleged that Mr Emefiele made the claim knowing the same to be false.

Highlights of the fresh charges contained in an EFCC release on Tuesday include:
*Allocated forex of $291, 945,785.59 without bid
*Corruptly received $740, 000 from NIPCO Plc
*Corruptly received $850, 000 from Raja Punjab on account of forex to his employer
*Conferred corrupt advantage on his associate, Limelight Multidimensional Services Ltd to the tune of ₦1, 060,030,249.42
*Conferred corrupt advantage on his associate, Adswin Resources Solution Ltd to the tune of ₦398, 031,732.32
*Abuse of office by special allocation of forex of $1, 769,254,793.16
*Corruptly received $2, 410,000 from Raja Punjab on account of forex to his employer
*Corruptly received $400, 000 from Source Computer Ltd as kickback for contract award
*Conferred corrupt advantage on his associate, COMEC Support Services Ltd to the tune of ₦149, 001,009.70
*Conferred corrupt advantage on his associate, Adswin Resources Solution Ltd, to the tune of ₦204, 992,739.51
*Abuse of office by special allocating of forex of $370 872,893.01
*Corruptly received $6 320,000 from Raja Punjab on account of forex to his employer
*Corruptly received $200 000 from Source Computer Ltd as a kickback for a contract award
*Conferred corrupt advantage on his associate, COMEC Support Services Ltd, to the tune of ₦151, 168,458.73

https://trixxng.com/how-emefiele-corruptly-received-funds-from-nipco-raja-punjab-others/

Thats how you guys defended Buhari even when he was obviously failing and denied him the opportunity to correct himself due to your praise-singing. You're doing same with Tinubu and leading him astray with praise-singing

PressMyButton:
And what's the big deal?. Don't you have the mental sharpeness to understand what you posted?. Is it not in the article that the national assembly approved of the securitization of the debts?, was that not in line with what Government has done?. Is there any better alternative to what FG is presently doing to repay the loans?. Government pays in tranches, so don't worry about maturity period. The bonds are oversubscribed and more foreign inflow are coming in.

Obi everyday?

duro4chang:
Obi is chasing the wind

Cardoso is doing exactly the same thing!

Iamgrey5:
https://www.vanguardngr.com/2015/04/cbn-spends-4-7bn-to-defend-naira/amp/

Nowhere in the report did it says the borrowed money was used to defend the naira. You're making things up

Iamgrey5:
https://www.reuters.com/article/idUSL8N39S4VT/

I hope you know how to read and understand business terminologies.?

But you supported Buhari for 8yrs despite what his supporters did to Nigerians esp corpers in 2011.

Buhari was killing the economy and spreading insecurity but you were steadfast in your support only to turn around to say he handed a dead economy to Amoda.

Thats same thing as mental illness

QuotaSystem:
Nigerians are too bright to fall for these weak antics & amateur gaslighting.

These guys will do anything to avoid being politically responsible for their hateful, disrespectful, provocative & arrogant behavior.

They want to be allowed to insult, utter derogatory remarks and disrespect the culture and religion of other Nigerians (esp. northerners & yorubas), yet still get their precious votes 🤡

Never happening in your wildest beerfraudian dreams, especially not for an indisputably incompetent, third class, mediocre ipob apologist without track record.

You either shape up or ship out.

Remember how you defended Buhari for 8yrs only to turn around to say he handed a dead economy to Tinubu?

Is this not mental illness?

DenreleDave:
Our brothers thinks and wants otherwise because of their failed messiah that can never grace the number 1 of the nation

I no mention names oooo. No one should attack me

Watch, price of goods and services will never come down to Buhari's time, how much more Jonathan!

Tinubu has already damaged his govt for good!

onatisi:
Tinubu is very lucky to be the president at a time Dangote refinery is fully starting operation . The fx used for fuel importation and the funds used for subsidy payment ,if those 2 are removed , automatically the economy will improve . I think we should thank Buhari for given Dangote the much needed encouragement to start that refinery .

How can someone advise people to join a satanic party?

His predecessors? Which of his predecessors had this high exchange rate? All his predecessors are better than Cardoso!

crestedaguiyi:
English is the problem.

Emefiele was subsidizing while cardoso is intervening .

What have we started producing that we were not producing.

They have about 30 cargos awaiting for buyers yet the naira is rising , non oil export has not risen significantly. I really would like to know what the commercial banker is doing differently from his predecessors

Either there is something going on or something was going on but has stopped

Show source of your info else its beer parlour gossips

Iamgrey5:
Emefile was subsidizing the Naira.

Selling it at value that is considered lower than the fair value and he was borrowing heavily to do so.

You're ok with this?

Epistasis:
The true value of naira to a dollar should be around #700 according to Wale Edun mid last year. Add one to two, it shouldn't be more than #900 to a dollar.

Emefiele cannot borrow money to do that. Prove it!

If you wanna defend failure, go ahead without making it seems Emefiele was responsible for Bubu's ineptitude.

APC met dollar below N200 so why has the APC not been able to bring down $ for 9yrs below N200?

Iamgrey5:
True value or "Fair value" of naira is at rate CBN is able to add to the foreign reverse and defend the Naira at the same time without borrowing to do so.

Alot of expact have put that at 900 Naira to a dollar.

Emefile was borrowing money to subsidize the Naira and keep it at an artificial rate. Hence, we don't know how bad the economy has gone.


CBN are the one in control of 80% of the foreign reverse inflow into the country so they will have to intervene in the market from time to time.

The driver is talking trash! He should take responsibility for this accident! Where was he looking to have ran into a canoe?

He is talking about a useless job!

The way you guys cut APC slacks is appalling. You never treated the PDP this way even though they were 10 times better than APC

victorclean:
Gbam. Very foolish middle men causing hardship. FG out of pity banned importation for Nigerian farmers to enjoy, but their greed for money lead to increase in price above imported foods despite not paying import duties.

Nigeria middle men should be examine.

There's a limit to sycophancy. Metawale is not in a position to assess his boss because they're all failures!

You don't know that. N170 million is small money for a celebrity like him

Image123:
He was equally charged for money laundering and could not explain his wealth. He made a bargain for them to drop the more serious charges.

The Op did not make it up, the tweets are there. Why are you pained?

AfonjaScud:
Peter Obi is a gay with a homosexual son, Oseluka, wuth whom he f*ucks.
The criminal pandorax cannot go to the UK for crime and shame.
Shameless rainbow family.

Tolanibaj always like controversy