₦airaland Forum

"We are sad. We are angry. We feel totally exposed and most vulnerable "
Picture of a concise and strong worded statement by CBCN.

SuperS1Panther:


Prophet Ayodele -- PMB will be digraced at the polls.

Apostle Suleiman -- Igbo presidency is.what we need now . Yet none of the aspirant is Ibo.

God will save us from these merchants of prophesy and authors of confusion.

Google Kingsley Moghalu. Don't always say what you don't know.

doctokwus:
Some of us read these things,particularly his PTF days,back then before the 2015 elections,but were shown PTF labelled supplies and structures as evidence of his "wonderful chairmanship"of the fund.
When Obasanjo also came out and told us all that he investigated Buhari's PTF days and found him "clean",we bought fully into the propaganda.
What is obvious now and showed by this report then,is that Buhari,just like during his military reign,lacks the capacity for analysis of issues,proposals,ideas,reports and decision making on his own.That he is good at cover ups and deception and that he has a congenital nepotic mindset.
If some of us had known what the actual facts about Buhari were then,perhaps we may still not have supported and voted GEJ for a second term,but Buhari would have been an option not to have even been given a 10th or 100th thought over.

Apt � "What is obvious now and showed by this report then,is that Buhari,just like during his military reign,lacks the capacity for analysis of issues,proposals,ideas,reports and decision making on his own.That he is good at cover ups and deception and that he has a congenital nepotic mindset"

Paperwhite:
Perhaps how Buhari carried out his PTF assignment provides the best vista into his person and the psychoanalytic contents of his character. Three things stand out irrepressibly in the Buahri harrowing PTF days, namely:
1).His concentration of over 70% (in some cases, 100%) of all the PFT projects in the north regardless of the fact that the regions in the south might have greater needs for the PTF intervention.
2)The massive frauds that went unsupervised under his watch, which he publicly acknowledged but claimed ignorance and no benefit.
3).Buhari’s nepotic choice of consultants who were used to siphon the PTF funds that were uncovered by independent investigative committees.

"Buhari is, by nature and training, anti-democratic. He abhors the press and press freedom. He just cannot bear the fact that all human beings are born equal. To him, there are blue-bloods and talakawas whose place in life is hewing wood and drawing water. The world has moved from such atavism and Nigeria should not be dragged back to it in fulfillment of Buhari’s inordinate ambition."
Nigerians with good knowledge of histroy know this truth.

Exactly, However,but we were all injected with the opium of mental laziness through the frenzy change mantra,lies and propaganda that we failed to remember that our supposed Cyrus is BUHARI. Never again.

By:Law Mefor

The mantra making the rounds now in the opposition circles is: Buhari is the change we need. One wonders how much of this Buhari the orchestrators know. Or are just blinded by the propaganda of the All Progressives Congress (the APC), a political party, which wants everybody to believe its Government will come with it a magic wand to drive away all the nation’s problems in one fell-swoop? What is even more worrisome is that they believe the magician is Muhammadu.Buhari. This puritan image being painted of the man is simply not true, and Nigerians need to be told the truth about the real Buhari, who he is and what he actually represents; and why his returning to power has become such an obscene obsession for him.

Perhaps how Buhari carried out his PTF assignment provides the best vista into his person and the psychoanalytic contents of his character. Three things stand out irrepressibly in the Buahri harrowing PTF days, namely: 1) his concentration of over 70% (in some cases, 100%) of all the PFT projects in the north regardless of the fact that the regions in the south might have greater needs for the PTF intervention; 2) the massive frauds that went unsupervised under his watch, which he publicly acknowledged but claimed ignorance and no benefit; and 3) Buhari’s nepotic choice of consultants who were used to siphon the PTF funds that were uncovered by independent investigative committees.

The Abacha regime created the Petroleum Trust Fund (PTF) in 1994, headed by Major General Muhammed Buhari, now the standard bearer of the All Progressives Congress (the APC). When, in 1994, the late General Sani Abacha, invited the former Head of State to serve as head of the newly created Petroleum (Special) Trust Fund (PTF), he gave one condition for this acceptance: He must be given the title of Executive Chairman, and he must have a free hand to run the Fund as he deemed fit, without any interference from anyone, including the head of state.

The idea of the PTF was to create a Trust Fund into which all excess income from the price increase would be paid, and from which the Fund would intervene in critical areas of the economy in such a manner as to directly benefit ordinary Nigerians. It is reminiscent of the SURE-P of the Goodluck Jonathan administration.

Buhari’s main qualification was that he was considered to be both a strict disciplinarian and an incorruptible man. And he was for this reason expected to ensure that the fund was properly and justly utilized. But the reality, in the end, was a story of massive and clinical looting of the public treasury, favouritism and nepotism.

Gen. Buhari was Executive Chairman of the Petroleum (Special) Trust Fund from its inception in 1994, to its disbandment by the Obasanjo administration in 1999. According to the report of the Interim Management Committee, which was set up in that year to investigate the affairs of the Fund, the total income accruing to the Fund from mid-1994 to July 1999 was in excess of N181 billion. There were six major areas in which the PTF intervened directly during the period. They were: roads and waterways; supply of educational materials and rehabilitation of educational infrastructure; food supply; health; water supply; and what was curiously termed other projects. Shockingly, Buhari ensured that over 70% of the projects in the 6 categories were done in the north. What a fair-minded officer and gentleman. A nationalist indeed who shall bring the change we all desire!

The management structure of the Fund reflected how Buhari ran the affairs of the country as head of state, when he abdicated all responsibilities to Tunde Idiagbon. He was just satisfied with being the executive chairman, as he was with being called head of state and c-in-c. And, without being accountable to anybody, at the PFT, Buhari exuded the impression he was an alternate Head of State. The same way he kowtowed to Idiagbon was the same way he handed over PTF to a single consultant, Afri-Projects Consortium (APC), as the sole adviser to the Fund. This agency- Afri-Projects Consortium – was given the exclusive power to initiate projects, assess their probable cost, approve the costs, execute the projects, and assess the quality of execution, all alone by Buhari. Nobody questioned their actions and legality of the powers they exercised. After all, puritan Buhari was watching.

Since Buhari was not accountable to even Abacha who appointed him and board set up to supervise the PTF was supplanted by APC at the behest of Buhari, it meant the PTF functioned like a parallel government. The submission of Afenifere to the Human Rights Violations Investigation Commission (HRVIC) led by Justice Chukwudifu Oputa gives an incredible insight into Buhari’s biased and nepotic disposition to the other parts of country. Afenifere noted at the Oputa Panel that nothing else typifies the marginalisation of the Yoruba nay the south than the lopsidedness of the projects carried out by the PTF. Figures from PTF Situation Reports (Vol. 2 Dec. 98) show that the PTF carried on as if there was no Southern Nigeria, as well over 70% of projects were shamelessly taken to the north by Buhari.

For the avoidance of doubt, let us attempt sector by sector analysis here. Of all the roads rehabilitated by the PTF, only 1984.5 kms of roads representing 24% were carried out in the entire South; from where the bulk of the PTF revenue came since the south consumes over 70% of refined petroleum products. Out of this paltry figure, South West got 10.5% while South east and south south combined, got only 13.5% of all the roads, despite being ravaged by erosion and swamps. What this means is that all the Southern States had 4,440.43 kms or 24 per cent of road rehabilitation as against 13,870.47 kms or 76 per cent in the Northern States.

The North-West States of Jigawa, Kaduna, Kano, Katsina, Kebbi, Sokoto and Zamfara had a lion share of 5020 kms or 27.42% because the Fund’s Chairman, puritan Buhari and the military dictator Sani Abacha were from there; The North-East States of Adamawa, Bauchi, Borno, Gombe, Taraba and Yobe picked 23.48 per cent. This is the zone where Salihijo Ahmed, the late Chief Executive of Afri-Project Consortium APC, the sole consultants that supervised all PTF projects came from.

Afenifere submission showed further the Figures in other sectors were even more callous. For instance, under the National Health and Educational Rehabilitation Programme (NHERP), the entire south had zero allocation in the tertiary programme, while the North picked 100 per cent. In the vocational programme, the entire South had 3% while the North had 97%. In the primary area, the South recorded 12% as against 88% for the North and in the secondary area, it was 14% for the entire South and 86% for the North, again courtesy of the fair-minded general who the APC says will bring the change we need.

The health sector is also similar. For the Teaching Hospitals, the South had 38% while the North had 62%. For the Specialist Hospitals, it was 29% for the South and 71 per cent for the North; in General/State Hospitals the south had 44% while the North had 56%. For health clinics, it was zero for the entire South against the North’s 100 per cent. Under the food supply summary, the South had 17% compared with 83% for the North, Buhari’s zone having 60.54 per cent to itself. Figures do not lie. Why should a fair-minded nationalist run the PTF in such lopsided manner? Is he seeking votes to return to power to wreck more underdevelopment to the southern Nigeria?

On the massive fraud discovered when PTF was disbanded in 1999, the prudent, puritan general only defence was that he was not aware that such massive frauds went on his watch, but that in any event, he could not have benefited personally. What manner of defence! And of cause he has remained poor ever after and had to take a loan from banks to purchase nomination forms. Buhari must believe Nigerians are a bunch of idiots to tell such a story, despite driving a fleet of armored jeeps.

In the end, the independent consultants concluded that of the N181 billion that accrued to PTF in the four and a half years of its existence between July 1994 and July 1999, as much as N25 billion was either stolen or improperly expended, under our anti-corruption crusader!

For a moment let us accept that Buhari was not aware of the massive frauds at the PTF and dis-empowerment of the entire southern Nigeria in his PTF days. This poses even a greater danger because it means a cabal would naturally run the country if he becomes President. If a much younger Buhari could not stop fraud and dis-empowerment of the entire southern Nigeria in the PTF, can an octogenarian Buhari do any better?

The tragedy of the PTF recounted clearly shows that Buhari is an unrepentant dictator who is not prepared to listen to anybody. This explains why he told Achacha he would not account to anyone as Chairman of PTF. Can this same Buhari who ran a parallel Government with PTF, be subjected to democratic practices and ethos, like allowing the Legislature and Judiciary to run as envisaged by the 1999 Constitution?

Is the quintessential principle of separation of powers, which govern democracy be possible in a Buhari Presidency? Aside torpedoing democracy in 1983 for no just cause and being an unapologetic Islamic fundamentalist, Buhari is, by nature and training, anti-democratic. He abhors the press and press freedom. He just cannot bear the fact that all human beings are born equal. To him, there are blue-bloods and talakawas whose place in life is hewing wood and drawing water. The world has moved from such atavism and Nigeria should not be dragged back to it in fulfillment of Buhari’s inordinate ambition.

• Law Mefor, is a Forensic Psychologist and Journalist

http://pointblanknews.com/pbn/exclusive/buhari-ptf-days-untold-story/

ALMUSTAQIM:
BUHARI CV SO FAR

- All salary arrears paid up
- All contractual debts paid up
- All Pension arrears paid up
- All money owed Biafran war veterans paid off
- Almost known treasury leakages sealed up
- Treasury thieves being investigated and prosecuted
- Recession overcome within one year
- The foreign reserve keeps growing despite low oil price
- Inflation is reducing
- The Capital market rated highest globally
- The ease of doing business rated high
- Greatly reduced food import bills
- Greatly increased Internal Revenue Generation drive
- Revamped and more effective tax regime
- More efficient and more responsible Civil Service
- All Federal roads being reconstructed across the Country
- Fast rails being constructed between the state capitals
- Gas pipeline being laid from South to Abuja, Kaduna and Kano
- 13 Modular Refineries being built in ND
- Private Financing for our three Refineries being negotiated
- Private Refineries to collocate with the existing Refineries being concluded
- Influx of foreign companies increasing
- Increased investments by domestic investors
- The Electricity Generating capacity at 7000 MW
- Transmission Capacity at 7000 MW
- Distribution capacity being restructured to inject more capital and expertise
- The economy of Nigeria being Restructured from oil based to Agric, Solid Mineral and Manufacture based
- Boko Haram now a distant ding in the orchestra of general quietude
- IPOB now a mute idea ready for discussions at the right time
- Niger Delta Avengers now reduced from a movement to Madam’s Patie military wing for retaining her loot.
- Military vehicles sourced from a Nigeria car manufacturer for the first time
These are not propositions; all these and more will be on the Curriculum Vitae of PMB in the 2019 Presidential Elections. And he did not achieve these by fluke, he was deliberate; the economy he inherited was dire. The country was running on one cylinder and the engine had just coughed its last, the engine was dead and the ”plane” was adrift.
I know all these achievements won’t make meaning to wailers because they are not putting money directly into your pockets. I know that is the only achievements Nigerians recognise. The amount of money individuals grab into their pockets.
Orderliness is more vital than speed"

IPOB now a mute idea, Avengers Dame military wing, Herdsmen and Boko Haram now collude with military to kill Nigerians. Clap for yourself.
All those points you listed up there are garbage from a deluded fanatic.
If I take you up on them one after the other, i promise you, you can even defend any.
Incompetence shouldn't be rewarded with blind loyalty.

Could this be dementia, hypocrisy, delusion or naivete?

Federal Government would not provide funds to any government official to travel abroad for medical treatment unless the case cannot be handled in Nigeria.
Buhari,April 2016.
President Buhari flown to London to be treated for an ear infection.
June, 2016.

Herdsmen are your country men, accommodate them. Buhari, March 2018.
Herdsmen are foreigners from Libya. Buhari, April 2018.

Stop Killing Boko Haram Buhari tells FGN. June 2013
Buhari approves $1Billion for weapons to fight Boko Haram. April 2018

Abacha never stole...
Buhari June 2008
President Buhari seeks World Banks help to repatriate Abacha loot. April 2016

Another word for hypocrisy or double standardness is BUHARI.

Say no to Mediocrity, Incompetencey,retrogression and Nepotism.
If you love Nigeria, get your PVC and vote Buhari out #2019elections

buhariguy:
that means your ineffectual buffoon actually left -$30b for us. That is $30b debt for us, whereas your ineffectual buffoon met $45b in 2010.

What did you comprehend after reading the post?

Business News  
By Feyi Fawehinmi, Contributor


It was former president Obasanjo who started this whole business of turning the nation’s foreign reserves into an achievement to be celebrated. When Obasanjo took office in May 1999, Nigeria’s foreign reserves were just under $5bn. By the time he left in May 2007, it was $43bn. But beyond that, there was a difference in the composition of the reserves from today. For simplicity, let’s distinguish the two types of reserves as Paper and Cash Money. Out of the $43bn left by Obasanjo, around $11bn was Cash Money. 

Cash Money is money in the bank that you have not spent. You can dip into it on a rainy day. The best example of this for Nigeria is the Excess Crude Account. But Paper is quite different. Imagine that in March, Nigeria sold crude oil and earned $1bn from it. That money goes into a CBN account abroad. CBN calculates the naira equivalent at the official rate and gives it to the FG i.e. N305bn. The FG takes the money and pays salaries, wastes some and the rest disappears. The key thing to note here is that once the CBN has given the FG naira, the dollars no longer belong to the FG. The FG cannot spend that $1bn again even though it is sitting there as part of Nigeria’s reserves. So what is it for? Let’s say a guy named Pastor Oyoyo wants to import a set of drums, guitars and hair cream for his new church, Fire for Fire InterGalactic Ministries. The total for all the imports come to $1m. He gives his bank N360m, his bank gives maybe N350m to CBN and CBN gives $1m to his bank. The bank gives him maybe $999,990 and he uses the money to pay for the imports.  

So we come to the current reserves. A few days ago, the CBN announced it had hit $46bn. In a recent speech, President Buhari also boasted that his government had grown the foreign reserves from $24bn in 2016 to $46bn today using its special Magique Systeme. But there’s something interesting about this growth – the big change has all happened in the last year or so. What did Godwin Emefiele (popularly called Meffy) do to achieve this? This growth has three components. 

Component 1 – Since February 2017, Nigeria has issued $7.3bn worth of Eurobond debt (02/17 – $1.5bn, 06/17 – $300m, 11/17 – $3bn, 02/18 – $2.5bn). For context, from 2011 to 2015, Nigeria only did $1.5bn of Eurobonds. When Nigeria sells Eurobonds, the dollars are paid to CBN. Meffy then converts it to naira and gives the naira to the FG. In other words, that $7.3bn is added to Nigeria’s reserves as part of the Paper Reserves. Again, the FG cannot spend it because it has already collected the naira equivalent. 

Component 2 – Nigerian banks have lately been practicing an innovative type of banking that economists and scholars have described as Advanced Shashe Banking (ASB). Imagine a Nigerian bank named Seneat. This bank goes abroad and borrows $1bn via a Eurobond at 7% interest. It then does a swap with Meffy where it gives the $1bn to CBN at say N350 to $1 with an agreement to buy it back in 1 years time at say N360 to $1. This means that no matter what happens in a year time, CBN must sell $1bn back to Seneat at that rate. Seneat now takes its N350bn and buys lots and lots of FG treasury bills at 17% while Meffy adds the $1bn to the reserves. CBN has stopped publishing the swaps numbers since last year but I have some very clever friends who have calculated the current total to be $6bn. 

Component 3 – Since the CBN ‘stabilised’ the forex market last year with the launch of the I&E Window, much more foreign investment than before has come in. This is mostly made up of FPI where foreign investors bring in money to buy shares and government bonds. It’s different from FDI which is to build factories etc. Nothing wrong with FPI of course but its nice(r) when you have both. Again, they give their dollars to CBN and get naira to buy the shares they want. When they want to leave, CBN must collect their naira and give them dollars. And from experience, we know they usually run away close to elections in Nigeria given the way Nigeria behaves around that time. So how much is this component? It is hard to tell as CBN does not publish the numbers but I calculate to be around $9bn. 

I have simplified the components to save time and space. The only portion of the current reserves that is Cash Money is the ECA which has $2.3bn. But as I showed in my previous column, all the money in the ECA has been borrowed against which means it’s also Paper. Next time you hear the FG boasting about growing the reserves, remember it is costing quite a lot to grow it this way. And then decide for yourself how much credit to allocate to Meffy and the FG for it. 800 words is enough for the wise.

https://t.guardian.ng/business-services/whats-inside-nigerias-foreign-reserves/

Okoroawusa:
This is a clear indication of your ignorance about how government and economies r run

You 're ignorant

Babacele:
trust me Duke is my guy and I haven't hidden my preference for him .

I wish he will have the balls to come out

Yet some idiots will criticise TY Danjuma for his call for self Defence and alertness.

Babacele:
mtchew. Give a better person then we would listen.

Donald Duke

MrMoney007:
This boy just confirmed his stupidity.

The wisdom and valor of his father does not reflect on him.

A fool that calls himself a visionary spending valuable time on visionless program and exposing his mastery at foolery.

You 're really not knowledgeable. I wonder if your Dad is proud of you the way Pete is proud of Yul.
Best voice in Nollywood.
You can count male actors who can comfortably replace him in the Industry.
Ladys want to be with him while men want to be like him.
He can effortlessly act any role. Bad boy, good man, poor man, Rich Man,Priest, just name it.
Nwoke zuru ka eme.
Mr Yul must be referring to bad belle people like you.
I suggest paddy, stop hating, go and be better version of yourself.

Remimadrid:
Fool, am not a zombie nor a wailer, so you think waking up in the morning, and then posting up rubbish all in the name of making front page on nairaland. Fool.
Every one has their dark past, Buhari has his, u have yours, do u think if by chance u become President tomorrow, there won't be people that will uncover some dark past about u, just to spite u. Same has happened to Buhari.

You are not making any point, stop trying to appeal to emotion and pity.
If Buhari has truly changed a bit from being northern terrorist sympathizer to a repented nationalist as you claimed, let him go hard on fulani Herdsmen as he did to IPOB youths who didn't even kill a soul, kidnap or destroy any property.
You can do better than this. Open your eyes.

Remimadrid:
Op, u lack sense, in fact you lack common sense.
I also do not like the President, but these your write up is proof of your stupidity, and unfounded hatred for the president.

You have ended up not saying anything , only insults without any tangible facts to prove me wrong. So who is stupid here?
Don't think that by mere saying you don't like Buhari will give your trash comment credence.
Incompetence shouldn't be rewarded with blind loyalty. Wear your thinking Cap lad. Don't be a fool.

The President Mohammadu Buhari is Boko Haram sympathizer.
Infact,Buhari is the grand patron of BH, who is now using tax payers money and national wealth to sponsor the heinous activities of his foot soldiers Boko Haram in the name of negotiation.
Boko Haram has turned to a huge business enterprise/looting channel for Northern Politicians and Military.

We ordinary Nigerians must start thinking and say no to this smokescreen. We have all been decieved by our so call Leaders.
The attached screenshot speaks volume of Buhari's position on Boko Haram

APC, BMC, Lia mohd, gaba Shehu,presidency etc = Lies+incompetence and propaganda

thesicilian:
You can't give him such a title with such a track record of corruption under his watch.

With corruption and serious global economy meltdown PDP borrowed 6 trillion for 16 years, without corruption APC has borrowed 11 trillion in just 3 years. Brother do the maths.

Abbeyme:
Do you remember how much was purportedly spent on the Millennial celebration (or whatever it was) during the former President Goodluck Jonathan days?? The amount was never made public.

Politicians as DM would arm-twist such events to satisfy their lust for money. Our leaders have shown us that they are scared of them such them they cant be trusted with public finance.

Where there is no expenditure (or budget allocation), there will be no corruption for such events.

You are so naive and uninformed, half education is dangerous. Stop showing your ignorance in public domain plz.
Check how much that was budgeted by Yaradua for Nigeria at 50, the amount approved by NASS and amount finally used by GEJ. APC has messed your head with propaganda because of your hate and inability to research facts.

I have never seen any double standards man like Buhari and El rufai.

deji17:
Under Field Marshall Gutluck Jonathan, ever animal ranging from snakes, monkey, rat, etc fed on the Nigeria treasury to their satisfaction..

Mugu don't get it twisted, snake swallowed money in 2016, Aso Rock Rat 2017, 9.4 billion for electricity maintainance in Aso Rock scandal 2017, under the watch of your. your incompetent messiah PMB. This govt is hyper corrupt, don't be a fool

No need to comment, the screenshot says it all.

[quote author=emperormossad post=64839603]Young man, lemme make it clear to you, just incase you forgot how our education habitat works.
You wanna be a doctor here, get into a recognized uni and read MBBS or BDS. Anything outside that, you're on your own.
Of course there are doctors in other fields. But a medical doctor, no be here.
Sick patients go to the hospital looking for a medical doctor to see, not some lab technician or warever doc of whatever they call p

People with backward and myopic mindset are always easy to spot. You lack exposure so no need to educate you.

obiZEAL:
2019forDuke

Let him declare his interest first, we re ready to give him 30 million votes

duroc:
Donald Duke or no one Abeg....

On point

If only Donald DUKE will contest

Donald DUKE is the man we 're 100% with you. Come rain come sun. We need a bright, visionary and patriotic leader.
#letsmakeNigeriagreat

OceanmorganTrix:
It still did not stop the bad behavior of Nigeria Leaders bosses

You re right, our problem in Nigeria is tripod ;Leadership,Management and Patriotism. Onece we get a modern leader with those attributes, Nigeria will take her rightful place in the comity of nations.

Nigeria no doubt is truly the pride and gaint of Africa and black race in general. According to a documentary posted by Nigerians in USA, Nigerians are seen to be most educated even more than Asians, average native American and other immigrants in the USA. Interestingly ,they earn more on average than any other group including white Americans.
Watch the short video and shed some tears of joy and hope.
What's your thought about this? As for me I am proud of my nationality and I rock my coloured skin with pride.

https://m.facebook.com/story.php?story_fbid=922468587906771&id=415208158632819