₦airaland Forum

And as if that's not enough, wait until you see these one

Sometime one begin to imagine whats happening to us in this country.

Is this the change lai Mohammed said theyve given us

cytell56:
Criminal like your Papa abi!!! Olosho!!!

Uncultured children

NgeneUkwenu:
Remind me those, the protest was initially meant for?

Against bad governance.

For your information fayose is not going yo be part of the protest.

NgeneUkwenu:
This is what you get when you allow a Criminal like Fayose to hijack a noble cause!

I urge the police to maintain peace and order on the day of the political protest!

Is fayose not a Nigerian again

NgeneUkwenu what sayest thou or are you joning mouthaction laurenta

Mynd44:
Dumb decision. Even if they dont apply, the buzz about it should be enough for you and instead of stopping a march/protest, why not just put men on standby and ensure that it is safe…

People are just silly around here

A typical Nigeria police always thinking from their anus

The Lagos State Police Commissioner Fatai Owoseni on Wednesday said he will not allow the planned protest against the Federal Government slated for February 5 to hold in the state.

Popular musician, TuFace Idibia who joined the call for protest by some concerned Nigerians over the state of the nation, had used his social media platforms to appeal to his supporters to join the movement.

But Owoseni, who had earlier stated that there was no official request from the protesters notifying security agencies of their plan, said Wednesday that intelligence report indicates that criminals might hijack the process.

According to the police chief, the command wasn’t ready for that kind of demonstration and as such would not allow it to hold

He said no matter how good an intention is, hoodlums would always find a way to harass, rob and attack innocent members of the public, who may wish to go about their Lawful duty.

Owoseni said: “Information reaching us revealed that some hoodlums are planning to hijack the peaceful protest. And as such, we won’t allow it to hold in Lagos. We know that Tuface do not have the capacity to contain such a crowd and we will not fold our hands and watch while things go out of hand.”

At a press conference held earlier in the week, Owoseni said: “The Civil Society had said that they do not need police permission to carry out any peaceful protest, but they should also be aware that there might be those who share an opposing view. This set of persons may want to disrupt the peaceful demonstration and would want to attack demonstrators.

“This is why we advise individuals or group of persons who may wish to embark on civil demonstration to inform the police so that adequate security arrangement would be provided.”


http://thenationonlineng.net/lagos-police-vows-to-stop-tufaces-protest/

BERNIMOORE:
Engineer how you dey? i dey Gbadun you too much for this information!

Do you hear anything from the Fake Audio between wike and fayose they said that they will investigate and match the voice? ever since i exposed the fake part that mimmick wike, we did not hear anything again and their deadline of one month to brief us with their forensic outcome don pass. This people are real big time liars

I dey hoooo.

This people are just a very big fraud.

I'm not supprissed at their inability to bring forth their alleged forensic report, because they have none. (Oun teye ba je, lo ma ngbe fo)
We'll keep waiting for their alleged forensics report. Maybe thats why SARs commandar refuses to apper b4 the rivers panel cauae he was cought pantsbhand down

How your side jare.

As for this edo tribunal, they have no documents to submit as usual, all theh have is media noise documents. That is why they are trying to bring in fake and inadmissible document to the tribunal. Ko le wek

yarimo:
Keep on smoking OTOUKE weed and continue typing trash. When fayose went to prison it was all about corruption abi? This time FAYOSE'S case will be handle beyond NNAMDI KANU and DASUKI'S case and nothing will happen.

Thought you oncr said Fayose will not finish his term.

Now you are changing goal post again. Iru yin o soro nmo

yarimo:
as long as he will be in prison even if it is 1 second no problem

So you are the one that want to put him in prison baah.

The pit that men dig.....

The same tactics APC lawyer tried to use yeaterday, but he was noy successful.


APC lawyer faked and smuggled in document that was not tendered to cross examine witness to PDP at tribunal.

He was caught in the act by one of PDP lawyers as he observed that, the tendered document was altered before being used to cross examine PDP witness.

It is important to state that APC lawyer involved is a SAN.

casttlebarbz:
federal high court in ado ekiti...wetin efcc dey expect b4 ?

Make them carry am go unside aso rock baaaah

The Edo State Gubernatorial Election Petition Tribunal resumed sitting today with the tendering, by counsels to the People’s Democratic Party (PDP), of supporting documents and evidence to prove falsification of electoral results by both Independent National Electoral Commission (INEC)


As tribunal proceedings continued today, APC lawyers tampered with a voter registration evidence already admitted in evidence by the tribunal.

They gave a PDP witness a copy of the doctored evidence and told him he couldn't have voted as he was not registered. The witness, even after insisting that he registered and voted, was ridiculed and heckled by the APC lawyers and supporters in court.

When PDP lawyers tried to cross examine the witness to show his voters card they objected and told the tribunal chairman that no new evidence can be introduced. The chairman ruled and they rejoiced as they thought they had duped the tribunal like their client duped the system.

At this point, the PDP team went back to recheck the evidence and it was discovered that the APC lawyers removed the relevant page so as to deceive, dupe and coin the tribunal and by extension Edo people. Just like they did in the governorship election now in the tribunal.

The tribunal was promptly informed and the chairman showed his frustration at the failed fraud and deception. The APC lawyers hid their heads in shame.

The tribunal clearly needs to caution the APC and its Lawyers to stop the smuggling in of fake documents and doctoring of documents to cross examine PDP witnesses.

Edo State Govornorship Election Tribunal
Benin City

Reprieve may be coming the way of the embattled Senator representing Ogun East, Buruji Kashamu, as the National Chairman of the All Progressives Congress (APC), Chief Odigie Oyegun has vowed to see to it that he (Kashamu) is saved from being extradited to the United States of America (USA) to face trial for his alleged involvement in drug trafficking.

Senator Kashamu was however said to have been told in clear terms that he should formally decamp to the APC and accept Ogun State Governor, Ibikunle Amosun as his leader as the only condition for the federal government to intervene in his matter.

The Senator was said to have argued that he should rather be allowed to remain in PDP and continue to work for the APC, but Oyegun objected, arguing that the power brokers in the APC, especially Governor Amosun do not trust him (Kashamu) to that extent, more so that he is also interested in the Ogun State governorship in 2019.

Sources said Senator Kashamu met with Chief Oyegun in Abuja on Monday night and he was assured by the APC national chairman that; “For all that you have done for our party, and most importantly that the new United States President, Donald Trump is not friendly with our government, we will resist any attempt to extradite you.”

Oyegun, who was full of praises for Senator Kashamu for his roles in ensuring victory for the APC in Edo and Ondo States governorship elections, was quoted to have said that the moment Senator Kashamu joins APC, he will ensure that the federal government do everything within its powers to prevent the Peoples Democratic Party (PDP) Senator from being extradited to United States.

Our source disclosed that to assure Senator Kashamu of his seriousness, Chief Oyegun called the Attorney General of the Federation and Minister of Justice, Abubakar Malami, who also assured that all necessary legal means will be deployed to frustrate any move by the United States government to extradite the Senator.

“Senator has assisted our party and our government greatly. It is partly to his credit that PDP lost Edo and Ondo States governorship elections and that PDP remained destabilised. This is a payback time and we will stand by him at this trying period so as to give other PDP top-shots willing to join our party the assurance that we will always protect them.

“You can see what we have done for Chief Orji Uzor Kalu, Senator Joshua Dariye, and even the Senate President, Bukola Saraki. Now that Saraki has opted to team up with us and behave well, he now has peace of mind,” the source quoted the Attorney General to have said.

For 18 years, Senator Kashamu has remained in the eyes of the storm, being wanted in the United States for allegedly acting as the kingpin of a drug smuggling and money laundering ring. It was the same operation that landed American author Piper Kerman in jail for a year and inspired her memoir “Orange Is The New Black.”

Kashamu strenuously denies the charges and claims it’s a case of mistaken identity; he says the US really wants his late brother, but he has refused to heed calls that he should visit the United States to clear his name once and for all.

Last week, a United States Appeals Court upheld a ruling against Senator Kashamu.

In an April 2015 filing, Kashamu asked a district court to prevent his “abduction abroad by U.S. authorities.”

The court however dismissed the complaint, and the U.S. Seventh Circuit Court of Appeals upheld the ruling last Monday. It said United States agents’ attempt to arrest Kashamu in coordination with local authorities would not constitute “an attempted abduction

Troubled by this court judgment, the embattled senator warned yesterday, that before anybody could succeed to extradite him to the US to face trial for drug-related offences, “about three, four or five people will die.”

He vowed that any attempt to ‘abduct’ him would be met with violence, saying he planned to engage the services of members of the Oodua Peoples’ Congress for protection.

The senator vowed that any attempt to ‘abduct’ him would be met with violence, and that he planned to engage the services of members of the Oodua Peoples’ Congress (OPC) for protection.

He said, “There is no extradition that can be brought against me again. The only thing they can do is to watch and catch me on the road; take me to the airport or Cotonou or throw me inside a vessel and take me through the Atlantic Ocean. But I am not going to let that happen. I don’t go to the beach, and now, I will go and hire OPC, may be like 40. I will load them (in my vehicle), because the day we meet, one has to kill one. That is for sure! One has to kill one because I am not ready to go anywhere. Before that happens, maybe about three, four or five people will die.”

http://www.ngrmirror.com/2017/01/drug-charges-decamp-to-apc-and-forget.html?m=1

Alleged N40bn Fraud: Ekiti House of Assembly gives EFCC 21-day ultimatum to investigate Fayemi, others; accuses EFCC of compromise.


The Ekiti State House of Assembly has given the Economic and Financial Crimes Commission (EFCC), 21-day ultimatum to commence investigation into the allegation of N40 billion fraud made against the immediate past governor of the State and Minister of Mines and Steel Development, Dr Kayode Fayemi and others, or face legal action, accusing the anti-corruption commission of compromise.

The House of Assembly, in a letter reminding the EFCC of the petition it submitted to the commission on October 27, 2016, said; “should the EFCC fail, refuse and or neglect to act on this petition within 21 days of receipt of this letter of reminder; we shall have no option than to institute legal action against you. Consequently, we shall be asking for an order of mandamus compelling you to perform your duties according to the 1999 Constitution of the Federal Republic of Nigeria (as amended) and the EFCC Act 2004.”

The house had submitted a petition, dated October 24, 2016 and signed by the Speaker, Pastor Kolawole Oluwawole, to the EFCC in Abuja on October 27, 2016, complaining of fraudulent practices against Dr. Fayemi, Mr Dapo Kolawole, Mr Yemi Adaramodu, Mr Abiodun Oyebanji, Arc Oyelade (CASA Nig Ltd), Mr Bayo Kelekun and others.

However, more than three months after submitting the petition with relevant documents, the EFCC has not acted on it.

The letter of reminder, also signed by the Speaker and submitted by the Deputy Speaker, Hon Segun Adewumi and Chairman of the House Committee on Information, Dr Samuel Omotoso read; “We write to remind you of our petition dated 24th October 2016, which was submitted and duly received in your office on 27th October 2016.

“Three months after the petition was submitted, you have refused, and or neglected to act on it.

“This is at variance with the speed and swiftness with which you have acted on other petitions, especially those involving members of the Peoples Democratic Party (PDP), and this is confirming the general belief that you have been forbidden to act on any complaint against functionaries of the APC led government.

“Even though we have closed our ears to insinuations that your office is under a very strong influence to sweep under the carpet, any complaint that is made against Dr Kayode Fayemi and other top functionaries of the federal government, your refusal to act on our petition, three months after it was submitted is making us to think otherwise.

“Therefore, in view of the need for an all-inclusive anti-corruption fight, we implore that you direct thorough investigation into the alleged fraudulent practices enumerated in our complaint dated October 24, 2016 (See attached) with a view to bringing anyone fund culpable to justice.

“We again attach herewith copies of relevant documents submitted with the petition and hope that this time around; you will not shy away from your responsibility this time around.

“However, should you fail, refuse and or neglect to act on this petition within 21 days of receipt of this letter of reminder; we shall have no option than to institute legal action against you. Consequently, we shall be asking for an order of mandamus compelling you to perform your duties according to the 1999 Constitution of the Federal Republic of Nigeria (as amended) and the EFCC Act 2004.”

Speaking to journalists after submitting the reminder, Dr Omotoso, who was flanked by Hon Adewumi said the APC led federal government was fighting corruption involving opposition sulphuric acid while using cold water to fight the ones involving APC members and functionaries of the federal government.

He said the misappropriation of the SUBEB N852.9 million has done incalculable damage to education of children in Ekiti State, adding that the rights of Ekiti children to education was being violated with the collaboration of EFCC.

Dr Omotoso called on Nigerians to help prevail on the EFCC to perform its duties without bias, saying; "Ekiti people are suffering from the consequences of the looting of their collective wealth by Dr Fayemi and others, and it is sad that EFCC appears to be in support of this criminal and inhuman act."

The petition, dated October 24, 2016 and signed by Speaker of the House of Assembly, Pastor Kolawole Oluwawole, was submitted to the EFCC in Abuja today, by the trio of the Deputy Speaker, Hon Segun Adewumi, Chairman House Committee on Information, Dr Samuel Omotoso and Hon Sina Animasaun.

In the petition, dated October 24, 2016 and submitted on October 27, 2016 with several documents, the House accused Dr Fayemi and others of fraudulent practices “including, but not limited to contracts inflation, misappropriation of fund, diversion of Local Council and State Universal Basic Education (SUBEB) funds, amongst others.”

Fayemi and others were accused of diverting N8552.9 million belonging to the State Universal Basic Education Board (SUBEB).

“A sum of N852, 936,713.92 was illegal withdrawn from SUBEB Access Bank Account Number 0065385694 on October 8, 2014, eight days to the end of Dr Fayemi’s tenure as Ekiti State governor. The N852, 936,713.92 was counterpart fund paid by the Ekiti State Government to access the Universal Basic Education Commission (UBEC) 2012 Marching Grant of N852, 936,793.12.

“This illegal withdrawal was in contravention of Section 11(2) of the Universal Basic Education (UBE) Act, 2004.

“It should be noted that UBEC Deputy Executive Secretary, Dr. Yakubu Gambo told the Senate Committee on Finance’s Budget Defence that Dr Fayemi, used the N852.9 million counterpart funds dedicated for education by the federal government through the UBEC for other purposes.

“Mr Dapo Kolawole, who was Fayemi’s Commissioner for Finance, while defending the allegation, said there was no law forbidding States from borrowing counterpart funds to support states capital development operations.

“Consequent upon this illegal withdrawal, UBEC caused a letter to be written to the Ekiti SUBEB in which the commission called for the return of the N852, 936,713.92 to the account of SUBEB.

“UBEC also suspended Ekiti SUBEB from accessing any further FGN-UBE Intervention Fund until further notice.

“UBEC, in the letter dated April 16, 2015, with Reference Number; UBEC/FA/SUBEB/EK/183/Vol.II/162 described the withdrawal as criminal act that violated Section 11(2) of UBE Act 2004 and conveyed its suspension of Ekiti State from accessing any further FGN-UBE Intervention Fund.

“UBEC letters dated April 16, 2015 and April 29, 2015 as well extract from Ekiti SUBEB Statement of Account are herewith attached.”


The House also listed contract for the construction of a New Civic Centre awarded to TIANJIN-YUYANG Construction Eng. Limited on August 30, 2012 at the cost of N2, 573,584,395.75 and contract for the construction of earthwork for New Governor’s Office was awarded to PONTI-ITALWARE Nig Ltd on March 3rd, 2012 at the sum of N383, 900,911.06, noting that despite that N115, 170,273.32 was paid to the contractor for earthwork, the site was abandoned, with no significant work done.

“Also, contract for the construction of the New Governor’s Office was awarded to Messrs Interkel Nig. Ltd (12, Maitama Sule Street, Southwest Ikoyi, Lagos 0812900918) on March 1, 2014. The contract sum was N2, 027,495,857.45. Out of the 30% mobilisation fee of N608, 248,757.24, a sum of N100 million was paid to the contractor with nothing to show,” the House alleged.

Alleging further, the House said; “Towards the June 21, 2014 governorship election, N5 billion loan was obtained, using Fountain Holdings Limited, a company with N15 million share capital. The N5 billion loan was obtained from EcoBank without recourse to the Debt Management Office (DMO) and it was claimed that the loan was used to execute capital projects like construction of roads.

“Our question is; is it part of the responsibilities of Fountain Holdings
Limited to execute capital projects like road construction on behalf of
Ekiti State Government?

“For your information, Fountain Holdings Limited is an investment company owned by the Ekiti State Government. The responsibility of Fountain Holdings Limited is to manage and supervise all companies owned by the Ekiti State Government. The Share Capital of the company is N15m, and we wonder how a company with N15m Share Capital could be granted N5bn loan by EcoBank without any recourse to the DMO!

“As at today, there is no single evidence of utilisation of the N5 billion,
suggesting that the loan was taken to fund Fayemi’s botched re-election
bid.”

The House also accused Fayemi of fraudulently purchasing 156 units of Ford vehicles from Coscharis Motors Limited, for traditional rulers in the State.

“N1.2 billion loan was obtained from First Bank Plc for the purchase of 156 units of Ford vehicles from Coscharis Motors Limited, for traditional rulers in the State.

“It is on record that only 156 units of the vehicles were delivered while Coscharis, in its letter dated May 2, 2014 said it delivered 235 units. Up till today, the remaining 79 vehicles are yet to be accounted.

“It is also on record that proposal for the supply of vehicles was submitted on November 14, 2013 while the vehicles were distributed to the Obas on August 27, 2013! The supplier, Coscharis also registered as a civil/building contractor in Ekiti State on November 13, 2013.

“Coscharis, which supplied the vehicles only registered as a civil/building contractor in Ekiti State on November 13, 2013 and submitted proposal for the supply of the vehicles on November 14, 2013 while the vehicles were supplied in August 2013 and distributed on August 27, 2013, three clear months before the proposal to supply the vehicles was made.

“Furthermore, it is also on record that instructions were sent to Local Government Chairmen on November 15, 2013 to deliberate on the proposal sent by Coscharis on November 14, 2013 in their F&GPC meetings and their decision to get back to the Ministry of Local Government and Chieftaincy Affairs not later than November 22, 2013; while the vehicles they were to deliberate upon in the F&GPC meetings in November were delivered in August and distributed to the Obas on August 27, 2013.

“Also, while the vehicles were distributed on August 27, 2013 and the tracking done on September 13, 2013, certificate of no objection to procure the vehicles was issued on February 24, 2014,” the House claimed.

On the N25 billion sourced from the capital market to finance capital projects, the House said; “The Bond Prospectus, which was approved by the House of Assembly was not adhered to as the money was diverted into projects not listed in the Bond Prospectus. For instance, N1 billion was earmarked for the construction of Civic Centre whereas N1, 465,401,522.72 was spent on the project from the bond, with project left uncompleted.

“Also, the State Pavilion to which N1, 583,292,358.00 was earmarked and total sum of N1, 457,945,445.44 was paid to the contractor was left uncompleted.

“Most projects funded from the Bond Proceeds were not within the scope of the Bond Prospectus.”

The crisis rocking the Ondo State House of Assembly continues on Monday morning as police shut the Assembly premises.

This was to prevent a fracas which would have occurred at the Assembly between factions loyal to Hon. Malachi Coker and Hon. Jumoke Akindele who are laying claim to the speakership seat.

Coker’s faction impeached Akindele last Friday evening but the woman insisted that she remain the speaker because her removal did not meet the constitutional requirement.

The Nation learnt gathered that the legislators in Coker’s camp gained entrance to the Assembly premises as early as 6:00 a.m.‎ on Monday

Coker immediately sat on the speaker’s seat in readiness for the day’s plenary.



The Akindele’s faction later stormed the Assembly and the embattled speaker personally challenged Coker that he has no right to sit on the speaker’s seat.

But Coker told her she is no longer the Assembly speaker because she had been impeached.

This caused altercation between the two factions.

Police operatives led by the state Commissioner of Police, Mrs. Hilda Ibifuro-Harrison, who were already at the Assembly premises to prevent break down of law and order, stormed the House chamber and ordered the lawmakers including the workers to leave the place immediately.

http://thenationonlineng.net/police-shut-ondo-assembly/

@EFCC thunder no dey wait for rain again hoo.. you neba hear of climate change

agabusta:
Well, sorry if u feel insulted, I just got angry because you were accusing someone without actually showing the evidence that it is the person that released the pictures.

Bros let me tell you, no APC leader is wasting his time proving that Buhari is alive. Because Buhari is actually alive and well, you will see with your own eyes when he comes back next week. That was why I referred you to when same people has carried out similar propaganda.

What you didn't realise that got me angry is because you believed the reverse psychology propanganda being played.

I can categorically tell you this particular picture was released by Buhari haters just to make themselves feel good and sway the opinion of other Buhari critics. They have lots of social media accounts they created with Northerners' names to give themselves some authenticity. They then spill bullcrap with such accounts, and they themselves with their other accounts will now come out to raise a pseudo-alarm on what they used the parody account to post.

That was why I said wailers should continue deceiving themselves!

You know there is a difference being a critic and a hater. It is good to be a critic, it is part of the democratic process. But haters usually go beyond moral and ethical boundaries to reinforce their criticism to dangerous dimensions.

UAW

My poiny is this

1. Since those shouting hes dead cannot prove to us where, when and what. They should keep their noise to themselve.
2. Likewise since those trying to prove hes alive cannot substantiate their claim.

3. Let us allow PMB enjoy his 10 days leave. February 6th is by the corner.

There are lots of issues confronting this country at the moment than all this fakes death news and fake alive news.

agabusta:
Continue deceiving yourselves. You and your ilks will release fake news to the social media, you'll then come to cry foul and forming the smart guy that identified the fake news.

Continue deceiving yourselves. By the time PMB comes back next week, I expect you all to bury your heads in shame.

You guys seem not to learn from history, or maybe you are just myopic.

This is the 3rd time unreasonable and senseless rumours of PMB's death will be released to the public.

The first was after he won the election and went to cool off in London before inauguration. That was the same way they were shouting up and down that the man has died.

Later, when he went for the treatment of an ear infection, same thing, wailers went agog with their fake news.

The funniest thing was that they always seem to forget that the man left the country on his feet. Before you know it, they will be going up and down that the man is on life support and dying or that he has already died.

Intelligent people don't swallow rumours hook, line and sinker.

I dont expect you to be this low. Anyway you say whatevet you like.

So its wrong for me now to say you people should leave Buhari alonr and let him have his rest, than disturbing us with fake pictures.

Whatever pleases you do. But get this always be mindful of what you say and i wont enter into the same mud of abuse with you.

Good day

How does this
1. Reduce the price of Dollar
2. Make Power supply constant
3. Reduce PMS price
4. Fight kwuruption
5. Make PMB have a sweet 12 working daus holiday.
6. Make aso rock cabal allow PYO act peacefully.


Mr. EX-MD we have a lot to deal with. Try your noise story another time. Ko

Coldplay007:
look at the pictures critically. 1 has Sunday politics written on the TV screen. Abeg when PMB travel again? cos If he is meant to come back on 6th February while on a 10 days vacation, he must have left on 25th which is definitely not a Sunday..

http://www.vanguardngr.com/2017/01/breaking-see-buhari-new-london-photos/

Well not so, cause buhari travel on Thursday 19th January instead of 23rd as written in hiß letter addressed to saraki.

I pray nothing happen to PMB cause as it stand Nigeria os already on Auto-Pilot.

ademasta:
Mr President is feeling fine according to a post on the facebook page of his daughter, Zahra Buhari.
She claimed her father had a successful treatment and would soon be back after to Nigeria after his break.

Source: Facebook.com/zahrabuhari
Mynd44, Lalasticlala

Mr. Even your link (Facebook.com/zahrabuhari) you pasted here is fake with you acclaimed photoshop picture.

Below is what you link provide.

Find another lie

Her last post on facebook was December 18

Continue.


http://m.facebook.com/zahrambuhari/photos/a.1665167233801872.1073741827.1661768174141778/1720874631564465/?type=3&source=48&ref=page_internal


Where is the link to ur own post

This is fake.

Or else provide the source link

Sarki, Dropshot, Castedude take note that all this lies you people are trying to dish out will only highten the tension already created.

So stop posting liea. Let PMB rest please. By feb 6th, Nigeria will know the true state of their president.

Stop feeding us with childish lies

Castedude and co. Please let PMB be.

Enough of all this lies please

You people are just trying to heighten the tension with all this yout fake picture and disjointed, old and false news.

Sarki take note

Are you people not tired of this. Please enough of this.

Februay 6th is by the corner.

Sarki how market

Inani:
PHOTO: President Buhari in a meeting in UK
following death rumour.. http:///2kBaEvN Following reports that President Muhammadu
Buhari has died in UK, one of his aides today
shared a picture of him in a meeting with the
President of the European Parliament, Mr Martin
Schulz, and his aides.

Find another lie abeg.

Martin is no longer there.

Dont aggravate this any longer its not working

So much to be cleared.

Lalasticlala we've got to help CBN cleared this one.


BERNIMORE CBN at it again

Forex transactions

The Central Bank of Nigeria (CBN) has been implementing a questionable, and possibly corrupt, policy in its allocation and sale of foreign currency to Nigerians, LeadersNG can exclusively reveal. Documents made available to us reveal the arbitrary fixing of different exchange rates for transactions.

One of the documents made available to LeadersNG, the “BANK UTILIZATION REPORT ON 60:40 RULE FOR OCTOBER 2016”, shows stark contrasts in the exchange rates applied in the allocation of forex to different companies and individuals. The document shows no applicable pattern or matrix used in calculating exchange rates or selecting the companies or individuals who got low or high rates.

Details of this report show that during the month of October 2016 some companies were allocated forex at exchange rates as low as N0.61 to $1 in one particular transaction while others received forex at exchange rates as high as N470 to $1. The report also reveals the allocation of forex to individuals and companies for reasons varying from importation of a variety of products to family maintenance allowances, mortgage payments, medical travel and school fees/other bills associated with educational expenditure.

Our source is adamant that many powerful forces within the CBN and Nigerian political circles are taking advantage of CBN’s policies to make huge profits by taking advantage of CBN’s policies to make huge profits by purchasing forex from CBN at low prices then selling at black market rates in the black market.CBN’s policies have currently led to a disparity between the official exchange rate and the parallel market rates of almost N200 per $1 .

In October 2016, CGC Nigeria Limited whose address is listed as Kubwa Road, Abuja received an allocation of $81,392.59 at an exchange rate of N47.50/$1 to import floor drains. In a stark contrast, in one of its several transactions, Lafarge Africa Plc of paid an exchange rate of N428/$1 to get $987,214.18.

On its part, two particular transactions of the Nigerian Breweries Plc stood out. In these two transactions conducted through Rand Bank of South Africa, NB Plc was able to purchase $3193 and $1272 for the purchase of “Raw Materials Hi Cone” at N1.20/$1.

The document also revealed that MACADAMS Baking Systems Limited purchased $57,365.02 for the purchase of baking ingredients at N23/$1. Our investigation into the management structure of the Company revealed that the Chairman of the Board of Directors of MACADAMS Baking Systems Limited is Chief Adegboyega Awomolo (SAN). Chief Awomolo is also currently counsel to Independent National Electoral Commission, INEC.

The disparity in exchange rate also applied to individuals. For instance, Adebolanle Badejo purchased $4,372.05 at N23.34/$1 to service credit card payments. Farida Hassan Gimba received purchased $14,621 at an exchange rate of $48/$1 for educational expenses starkly contrasting with the rate of N370/$1 Fatai Odesile paid for the same purpose.
Abas Alhassan was able to purchase $805.73 at N85.24/$1 to make mortgage payments. In stark contrast, Akintunde Rowland Babatunde purchased $1,972.60 at an exchange rate of N404.84 for the same purposes. In another example, while Jigba Zahradeen Saleh and Nnogo Jane were able to purhcase $ 4,278.65 at N87.52 and $365.68 at N23.04/$1 respectively to pay for educational expenses, Isioma Asiodu Otughwor had to purchase $4,794.41 at N405.22 for the same purpose.

In similar transactions Kennedy Onyeali, Managing Director of All Seasons Mediacom purchased $9,752 at N30/$1 for the importation of an item simply referred to as HF101, while Alhaji Babagana Mohammed Sheriff, who we believe is a nephew to factional chairman of the Peoples’ Democratic Party (PDP) – Senator Ali Modu Sheriff and an in-law of President Muhammadu Buhari, was permitted to purchase $ $35,338.69 at the rate of N101.5/$1 for the importation of an item listed as “invisible”.

Foreigners were also able to benefit from the purchase of forex at low exchange rates. A person simply named as Paula was able to purchase $834.15 at N23.35/$1, while Paula Coetzee was able to purchase $1,563.06 at N23.11/$1. Both transactions were conducted through Stanbic IBTC Bank Plc and were for family maintenance allowances for expatriates.

Similarly William Le Roux and Debra Ann Le Roux were permitted to purchase $13,093.29 and $9,378.37 at N22.63 and N23.11 respectively. Both transactions were conducted through Stanbic IBTC Bank Plc and were for family maintenance allowances for expatriates.

In stark contrast to all this, World Wide Commercial Venture Limited was permitted to purchase $1, 462,480.83 at the rate of N425/$1 to purchase life saving drugs and pharmaceutical products. Its 24 transactions in October 2016 were conducted through Zenith Bank.

The lack of a pattern or formula used to calculate the exchange rate used for allocations lends credence to allegations of racketeering and dubious allocations of Forex to close family and friends on the part of CBN officials .

Documents below:

1. http://wazobiareporters.com/wp-content/uploads/2017/01/REPORT-ON-60-40-RULE-UTILISATION-FOR-THE-MONTH-OF-OCTOBER-2016-FOR-PUBLICATION111.pdf

2. http://wazobiareporters.com/wp-content/uploads/2017/01/Selected-FX-Transactions2.docx

http://wazobiareporters.com/2017/01/27/damning-evidence-of-corruption-in-central-bank-of-nigeria-leaked-download-documents-here/