₦airaland Forum

When President Obasanjo encouraged local production of cement,the Manager of Ibeto cement factory promised to flood Nigerian market with cement and drastically reduce the price of the product.

Ibeto fulfilled his promise and flooded the country with cement. The result was that the price of cement crashed. This jolted Dangote cement and affected his business adversely.

Aliko Dangote wrote a petition to former President Olusegun Obasanio kicking against the authority the federal government granted Ibeto to import 800,000 metric tons of cement.

Fomer President Olusegun Obasanjo issued a directive that Ibeto was not allowed to import cement into the country until it proved its investment in local production. Dangote was allowed to import cement.

Thousands of staff of lbeto cement were rendered jobless.

When late President Umaru Yar’ Adua succeeded Obasanjo, Ibeto, in July 2007, applied for import allocation and it was granted. Once again, he flooded the country with quality cement, and the prices crashed.

Dangote Cement PLC quickly filed a suit alleging that Ibeto Cement Company is gaining undue advantage by the federal government.

On its part, the Federal Government, contended that Dangote Cement PLC is plotting to wipe out fair competition and create a monopoly in the industry and transform itself to the only cock that crows in Nigeria.

But Ibeto further filed terms of settlement, which were entered as consent judgment in the suit.

In line with the consent judgment, it will continue to import 1.5million metric tons of cement per annum for the period between 1 October, 2007 and 30 September, 2017.

This was in line with the Federal Government guarantee conveyed a letter by the Ministry of Trade and Industry dated 5 June 2002.

By the judgment, the Federal Government was to pay Ibeto Cement Company the sum of $40 million and N1,885,813,592(N1.9billion). The amount is the verified claims by the inter-ministerial committee of the federal government for losses suffered by Ibeto from the unjustified closure of its bagging plant between December, 2005 and when it resumed operations in October, 2007.

But Dangote Cement PLC contented that its rights and interests were affected by the consent judgment.

Dangote argued that the continuance of lbeto cement makes Dangote cement expensive.

However, the Federal Government and six of its agencies, which are the other defendants in their counter-affidavit deposed to by one Emmanuel Joel, an Assistant Litigation Officer in the law firm of Kenna Partners, argued that Dangote Cement PLC filed the suit with only one intention, to wipe out competition in cement business and become a monopoly.

The Federal Government also contended that Dangote cement has no locus in filing the suit as the matter didnt concern them. It aveered that the suit instituted by Ibeto Cement against the Federal Government was not fraudulent. Furthermore, it argued that Dangote Cement was not a nominee or agent of government agencies, which are defendants in the suit, and is not acting on their behalf. It argued that Dangote Cement Plc is not an agency of Federal Government with the statutory mandate of administering, managing or enforcing tax compliance, therefore lacking the locus standi to commence or maintain the legal action and seek the reliefs in the case.

Ibeto took cement production to another level. It signed a contract agreement of $368million with a China company Zhejiang Sinoma Engineering Design & Research Institute Co., Ltd to produce 6,000metric tons of Cement in Enugu State, south east Nigeria.

The contract covered crushing limestone mining, cement raw materials to packaging, shipped to the whole process and a 45MW captive power plant, covering engineering design, equipment, steel and material supply, civil works, installation, commissioning and personnel training.

Already, Ibeto Company operates a similar facility in Port Harcourt, River State which produces 6000tons of cement.

Dangote was afraid that his dominance and monopoly of cement production will be destroyed by lbeto.

Ibeto is a billionaire and one of the wealthiest men in Africa. As at 2013, he was estimated to be worth about $3.7 billion dollars by Ventures Africa.

His Petrochemical Industries which manufactures oil lubricants and other various petroleum products both for local and international trade has the largest liquid storage facility for petroleum products in Nigeria, with a large capacity to store over 60,000 metric tons, and is located at the Apapa Warf and the Ibru Jetty Complex in Lagos, Nigeria.

President Buhari came into power.

Ibeto Company applied for foreign exchange from the CBN but was denied. Dangote applied and was granted. He has continued to enjoy all manner of waiver.

Like Dangote did during the Obasanjo regime , he was said to have approached his Fulani brother. Buhari banned lbeto cement because they are afraid of competition from a south eastern lgbo man who comes from the wrong part of the country.

They know that lbeto has the ability to overthrow Dangote as the richest man in Africa and he must be stopped by all means.

Following the closure of lbeto cement by Buhari, the prices of cement jumped from N1,500 to N 2,500 and Dangote is smiling to the bank.

Ibeto's account is frozen.

Dr.Cletus lbeto has been arrested several times, questioned by security agencies, harassed, humiliated and intimidated.

There is no law in the Nigerian law books that Ibeto company has breached.

What then is his crime? Is it because he is lgbo?

BlackfireX:
Dear Lord turn this ashes for beauty for the SE in Jesus name.

Amen. A big Amen.

He's a lucky it's a PDP govt, that's why he got some sort of reward for his honesty. If it were an APC state or fed govt, they will lock up the guy for their own mistake or tell the world how they have rewarded the man but holding the reward for him so.that he won't faint

This picture summarises why Nigeria is in a mess.

NobleAngell:
You picked the wrong person Reno, and today your ranting cup just got filled. Tonto will waste no time emptying it for you. Can't wait for her clap back. Let me quickly order pizza and cold coke.

You don't know Reno oooo.
That guy is the king of witty shades. Am still to decipher between him and FFK who won the award for the oga kpatakpata

baganas:
Which constitution? The one that says a reasonable period of public service suffice. Inec is the final institution according to the constitution to decide on minimum qualifications and it had decided that it was satisfactory with pmb qualification. The rest is wailing glorified

You are very ignorant of our constitution. I won't waste time educating you. Every line of yours is wrong

Buhari has no certificate and in a saner clime should be in jail for violating the constitution

In a few years, this kid will be looking as old as her husband. It's always like that. If you look closely, you'll notice that she's already ageing faster than her age mates. In about 7yrs,by constantly sleeping and living with the man, she will age to close the age gap. Look at buhari and Aisha

Some Nigerians have been arrested in the United States for their alleged involvement in multi-million dollar wire fraud scheme.

Geoffrey S. Berman, the US Attorney for the Southern District of New York, and James C. Spero, Special Agent in Charge of the Tampa, Florida, Field Office of US Immigration and Customs Enforcement’s Homeland Security Investigations (“HSI”), announced this in a press release on Thursday, April 25.

Legit.ng gathers that the nine defendants, Oluwaseun Adelekan, a/k/a “Sean Adelekan,” Olalekan Daramola, Solomon Aburekhanlen, Gbenga Oyeneyin, Abiola Olajumoke, Temitope Omotayo, Bryan Eadie, Albert Lucas, and Ademola Adebogun, were arrested for defrauding businesses and individuals of more than $3.5 million through business email compromises, a Russian oil scam, and a romance scam.


Berman said: “As alleged, these defendants deployed three different email schemes to defraud their victims. The common denominator in all three schemes was the defendants’ alleged fleecing of their victims through fictitious online identities. The schemes allegedly earned the defendants $3.5 million – and also arrests on federal felony charges.”

“A transnational criminal organization allegedly conducting illicit domestic and international wire fraud has been dismantled thanks to the hard work of HSI Tampa and Special Agents from the U.S. Attorney’s Office for the Southern District of New York. This case illustrates the unique investigative authority and international reach of HSI,” HSI Special Agent-in-Charge James C. Spero commented.

According to the US authorities, the offences the suspects were arrested for dated back to "July 2016, up to and including the present."

The suspects allegedly participated in a scheme to defraud businesses and individuals through several categories of false and misleading representations, including but not limited to:

1. Sending victims email messages that appeared to be, but were not, from legitimate business counterparties that included instructions to the victims to wire payment to those seemingly legitimate business counterparties into bank accounts that were actually under the control of, and/or maintained by, Adelekan, Daramola, Aburekhanlen, Oyeneyin, Olajumoke, Omotayo, Eadie, Lucas, and Adebogun (the “Business Email Compromise Scam”);

2. Sending email messages and text messages to at least one victim offering an opportunity to invest in oil stored in Russian oil tank farms conditioned on that victim wiring upfront payments into bank accounts purportedly affiliated with the purported oil investment but actually opened by and under the control of Aburekhanlen, Olajumoke, and Oyeneyin (the “Russian Oil Scam”); and

3. Sending email messages and text messages to at least one victim from an individual (or individuals) purporting to be a female with romantic intentions toward the victim requesting, further to establishing a romantic relationship, the wiring of payment into a bank account under the control of Omotayo (the “Romance Scam”).

The victims of the fraud reportedly transferred in excess of $3.5 million into bank accounts opened in the names of shell companies and under the control of and/or maintained by the defendants.

The suspects are each charged in the Indictment with one count of conspiring to commit wire fraud. Each of them faces a maximum potential sentence of 20 years in prison.

Nigerians arrested in US for multi-million dollar fraud (full list)
A chart containing names, age, place of residence, and nationality of the defendants is set forth below. Source: Unites States Department of Justice
Source: UGC

The charges contained in the indictment are merely accusations, and the suspects are presumed innocent unless and until proven guilty, the US authorities noted.

Also, while names of six of the suspects (Oluwaseun Adelekan, Olalekan Daramola, Gbenga Oyeneyin, Abiola Olajumoke, Temitope Omotayo and Ademola Adebogun) easily give them away as Nigerians, Legit.ng cannot independently verify if the remaining three suspects (Solomon Aburekhanlen, Bryan Eadie, Albert Lucas) are Nigerians.

The US Department of Justice only mentioned their names, ages and places of residence, not their nationalities.

In a related development, one Enabulele Osazee Frank, who posed as a United States Major Barnett Edward, has been sentenced to 30 days in prison with an option of a N25,000 fine by Justice Danlami Senchi of an FCT High Court sitting in Jabi.

The development was made known by the Economic and Financial Crimes Commission (EFCC).

Legit.ng notes that the anti-graft commission said Enabulele was among six suspected “yahoo yahoo boys" arrested in Abuja, by its operatives on May 11, 2018 through a sting operation following intelligence report on their activities.

It said Enabulele was arraigned on April 3, 2019 on an amended one-count charge bordering on attempt to cheat.


https://www.legit.ng/1235508-nigerians-arrested-us-multi-million-dollar-fraud-face-20-years-prison-full-list.html

This idiots are still talking of grazing reserves at this present age? They should buy land and confine their animals. It's not the job of the govt to hand over states lands to them for their biz

Bukasint:
It happens in medical school. They respect National Holidays. Say what you know. Medical School respect National Holidays given my the Federal Government.

Son, see how you have exposed your poor comprehension skills.
Is it because they did not come out to call it a Tuesday that made you fail to realise that "a day after Easter Monday" is a Tuesday and thus not a public holiday

Bheewhy:
Indeed, we have many lazy Nigerians. Must he write Tuesday before you can decode the message he passed.

Our youths now have a major comprehension problem

SUCCEED001:
Those who think they are wise will soon be disciplined by God. A lecturer that did not know that Friday and Monday were public holidays. Or was it on Sunday he expected them to come. Nonsense!

It said "for missing class after Easter monday". Meaning this was a Tuesday. I wonder why you kids of nowadays are poor with comprehension but sharp with your tongues

Berankis:
Did FG not declare Monday as a public holiday? Mad man! Na dis kind Lecturer go dey miss for lecture hall on a full capacity day.

It said "for missing class after Easter monday". Meaning this was a Tuesday. I wonder why you kids of nowadays are poor with comprehension but sharp with your tongues

NinjaMetahuman:
david mark won 4-5 times

does it stop him from becoming irrelevant in the 8th senate?

Mark did not deliver his state to PDP then. But he did. That means he'll be relevant at both N.A. and his state.

EvilMetahuman:
pained budget padder.

You will become Irrelevant soon

Are you sure. I won't call a man that won his re-election the 4th of 5th time and got his guber candidate to win the governorship seat from an incumbent apc gov as irrelevant.

lobell:
All of you are thinking straight! Yes there will be collateral damage but why do you have to use bombs to attack them? You already have their position, all you need to do is send in several tactical units at night equipped with night vision goggles to approach the area from several different directions and take them out using suppressors on your weapons. Keep collateral damage to the barest minimum.

Where did I in my post refer to the use of bomb. Please show me. What I had in mind was the deployment of about two or three tactical commando platoons made up of a joint force between the military and mobile police with aerial guidance of the air force.
I.was thinking of a sting op or a surprise attack, there are bound to be collateral damage but most minimal.
I never advocated blind aerial bombing.

Hedonini:
Sadly, this is a viable solution. Unfortunately, there's no way to defeat this monster without 'expendable' collateral damage.

Am happy many of you are thinking exactly the same way as me. There are bound to be collateral damages but it won't be worse than the deaths that will be recorded on daily basis if allowed to continue.
Sometimes, the best way to deal with mad men is to show them that madness is not their exclusive right.

Buhari and his weak govt lacks the willpower to confront anything and succeed in it. This has permeated every agency of govt. Hence, every crime is just blossoming without fear

Kidnapping saga by Fulani Herdsmen all over Nigeria. I was kidnapped on the Kaduna express way and here is my story

I had no premonition that day when I boarded a cab, a golf car from Kaduna to Abuja.

A few kilometres after Kaduna, shortly after the NYSC camp, around Dutse, on the express, we were assailed by a volley of gunfire targeted at tyres of vehicles on the express.

Of course all vehicles trapped within the radius of fire had to stop and passengers ran across the express to the other side of the road. As we ran, we saw men in army camouflage wielding Ak47s run after us and dragged us back to the side we just fled from.

No one escaped, they had seen us run and pursued us until we were all caught and rounded up. We were then marched in a single file into the bush.

As we headed into the bush, they had us arranged in formation, one victim, one kidnapper and so on while the rest of the kidnappers formed two lines beside our single file. There was no escape as they repeatedly warned us that we would be shot if we tried to escape.

We marched on for the full 6 hours into the bush; there were no huts, no buildings, no farmland, just endless vast arid land. I was able to gauge time because I was still wearing my wrist watch though my phone and bag had been taken by the kidnappers. Same with the rest of the others, victims like me, who had the misfortune of being on the road at that hour.

As soon as our phones were taken, the sims were removed; this of course meant they didn’t want us traced. Our phones were auctioned off to a certain ‘Yellow,’ that was the name of the person on the other end of the line who bargained for our phones.

I was in tatters in the course of our 6 hours’ trek; my gown had ripped open in my attempt to escape, my wig had fallen off and my tear stained face was caked with dirt and dust.

I was the only woman among the victims; there were 35 of us and twice the number of kidnappers. I feared the worst would happen to me. I began to pray because these people were just smoking weed, they were not normal people.

When we stopped, I quickly sought the face of one whom I perceived to be the leader. I went on my knees and crawled to his feet, groveling, weeping agonisingly and pleading.

I said to him: ‘I know you are a good Muslim, one versed in the tenets of Islam and who knows the sanctity of marriage. Please protect my honour for I am a married woman. Please protect me.’

This leader, who must have been like 26 years at the most, wouldn’t look at my face and I quickly sensed that he couldnt bear to look at a crying woman and so I intensified my cries and pleas and grovelling. I rolled in the dust with snot running from one nostril to the other.

Still, with his gaze averted he told me to stop crying and go join the rest of the victims where they were huddled on the ground. When I wouldn’t stop, he said sternly that if I didn’t stop then he wouldn’t help me. I stopped. He looked at me and told me I wouldn’t be touched by anyone of his boys.

Then they started getting in touch with our people to demand for ransom. How did they contact our relatives?

First off, they asked us all to call out the numbers of relatives we wanted them to contact for our ransom; once we gave the numbers, they would call them then allow us speak for just a few seconds before they took over the phone and made their demands.

They used an old untraceable Nokia phone to make each of these calls and because they spoke Hausa to us but Fulani amongst themselves, I wasn’t able to catch much of what was said among them.

Being the only woman, I was the first to be asked to introduce myself; name, state of origin, job, how much I had in my bank account and as they searched every nook and cranny of my bag and wallet; they wondered why I didn’t have an ATM card.

Thankfully, that day was the day I didn’t travel with my ATM card. I told my kidnappers that I had no bank account; that I am a married woman with children who also happens to be a student. I pleaded, telling them my husband is poor and earns N8,500 monthly and that my family is very poor as well. I told them I was given to my husband at a young age to settle a debt my father had incurred.

But they called me a harlot for leaving my children and going to school. I explained that it was my husband’s idea. He wanted me to go work to augment his salary and working required a certificate and so I had to go to school to earn one. Thankfully, my story was believed. I was soon to realize that these uneducated kidnappers didn’t know much.

They decided I was worth N5million! Immediately I heard that, I raised my hands in surrender, ‘Just shoot me, there’s no way my husband or family will ever raise that amount of money, nobody in my village, Gorin goni, the poorest village in Kaduna, will give as much as N2,000. So please, just shoot me.’

The leader then drew me aside and asked me exactly how much my family could get, I said N10,000. He walked away in anger swearing that I would die. I was still haggling with them over my ransom, when God came through for me…

There was another victim, a Customs officer from Kogi state who drew their ire; they discovered his identity from the ID Card found in his wallet.

It was clear the kidnappers apparently hate the current government because victims who worked for government were singled out and thoroughly beaten with the sticks they used to herd cows. They said the government had impoverished its people and that those in government were thieves.

Every chance they had they would beat the Customs officer. Despite my situation, I began to think of how to save him; so I called out that he must be a fake customs man as his service number is 10 digits instead of 6. They stopped and, thankfully the Customs guy cued in, he begged them saying indeed he was a fake customs man; he said he smuggled cars into the country and he had to do a fake ID to deceive the Customs officials who were collecting money from him. That’s how they stopped beating him!

They demanded 10million off the Customs officers family!

Then, there was also amongst us a Yoruba man who by all appearances was quite rich. Since the Yoruba man didn’t speak Hausa, I was his interpreter to the kidnappers.

This Yoruba man jumped into the drainage tunnel when we were first attacked and fled to the bush but the kidnappers had gone after him and dragged him by the leg out of the tunnel into the open. So, he was caked in blood and dirt. This man told me I should tell the kidnappers he was willing to pay any amount they wanted!

I had to shush him. I warned him, they will finish you o. But the man was jittery, you know how you Yoruba people are at the sign of trouble.

At the end of the negotiation, they demanded N100 million from his family!

You see, all of us victims had been thoroughly stripped of whatever we possessed. I was quick to have deleted my messages and email from my phone when the commotion started, that was my saving grace.

So, when I said I didn’t even have enough money not to talk of a bank account, there were no alerts or bank details in my phone. The others were not so lucky.

Each victim was asked to give the correct PIN number and amount left in their accounts. Any attempt to give a fake PIN was instant death upon discovery because they wouldn’t ask you again.

How did God come through for me?

I was the go-between who always had the phone so I could interpret when calls came in.

One afternoon, they suddenly began to argue amongst themselves and so moved away from us victims. I suddenly found myself alone with the phone! I quickly dialed my brother and told him to keep negotiating, never to give accept the amount they asked for.

You see, once a victim speaks to their family, the victim never gets to talk again until ransom is paid and families don’t realise they can haggle and negotiate the ransom!

After demand for ransom was made from all victims/families, we began another stretch of travelling. We trekked for another 6 hours, making it a total of 12 hours trek from the express into the deepest parts of the bush.

As we went along, we saw their armed vigilantes. Yes, the kidnappers had vigilantes to catch and kill runaway victims. They told us their vigilantes were well armed and since it was an open field, any runaway victim would be shot dead.

When we got to what was our destination, it was a huge village, community of different ‘platoons’ of kidnappers who also had their own victims. So it was like a village business, hundreds of kidnappers, living side by side several hundreds more with each owning victims they raided off the roads.

When we were eventually settled in an open place, the other ‘platoon’ of kidnappers came to ‘inspect us’, like we were spoils of war, loot they had come to admire.

Suddenly, I was being ogled by boys no than 16 to 18. They told my kidnappers that I was a ‘good catch.’ They meant this in terms of rape. But I heard one of my kidnapper say, their leader forbade them from touching me but that they would see about it. I began to pray again that the leader doesn’t change his mind about protecting me.

To cut a long story short, I was released on the third day after a ransom of N500,000 was paid on my behalf. No, my family didn’t raise all the money, my old school mates from the federal government girls’ secondary school I attended, helped raise the money as well. I have God and them and of course my traumatised family to thank for my release.

The customs officer who was asked to bring N10 million, paid N5million.

They asked our families to meet us at a certain place from where their okada rider look outs took them on a two hours’ ride inside the bush. There they counted the money, asked them to walk back and wait at a certain point for us.

I and the customs officer were released together as our ransom was paid the same day. We walked for more than 8 hours to reunite with our families.

I am home today but still so traumatized. I was happy when Governor El Rufia’s convoy went after some of them weeks ago. But a more concerted effort is needed.

While I was there, an Airforce fighter jet came and hovered over the community of kidnappers. Yes, it means government is aware of their location. As soon as the fighter jet was sighted, the kidnappers assembled all of us victims on the edge of a water fall and pointed their weapons at us. They were prepared to shoot us if the fighter jet opened fire on them.

At this point, we the victims began to wave off the fighter jet, we began to beg them to leave, whereas our kidnappers taunted and dared the fighter jet to drop lower so they could complete the massacre.

I found out that victims whose families couldn’t raise money were taken to the edge and shot, their bodies would fall below and be swept away by the water. That way it won’t stink out the community.

To date, no body has come to take my statements or ask me what happened. I mean the authorities haven’t contacted me. So they know exactly what is going on.

(Series written and edited by Peju Akande and based on true stories)

Jonathan is more of a Christian than the RCCG pastor called Osibanjo who can not answer any simple question without going back to insult the past administration.
Am not sure that in the whole of APC, there is any politician there as decent as GEJ. Not one

Nothing will happen if he assumes the Senate leadership. Saraki did it and finished his tenure despite apc empty threats. Besides, if not for the 8th Senate, buhari and his appointees would have finished us. Atleast I remember how they resisted and reversed fashola's attempt at increasing electricity tariff the second time without the consumate improvement of power supply for the first one increased

Women are too emotional to be entrusted with power and fame. It's very rare to see a woman stay submissive to her man when economic power shifts to her favour

akinegba1:
These are the top 10 most developed Nigerian states

Lagos

Rivers

Anambra

Delta

Kano

Ogun

Kaduna

Oyo

Akwaibom

Edo

Enugu

tesppidd:
The award is not for PDP Governor of the year.

It is for Nigerian Governor of the year.

Apart from the initial years of ambode, name any apc governor that has attracted development to his state more than
Ben Ayade
Dave Umahi
Nyesome Wike and
Udom Emmanuel

Should be between Ayade and Wike. The likes of El rufai whose state is in disarray was just added to give it balance

I always tell people; if the scheme is that profitable, the person won't waste his credit or data to share it with you a total stranger. He will share with His family members and hopefully close friends, not total stranger like you.
If I get a free scheme that will pay me ×3, I will be busy multiplying my own money in it than looking for strangers to convince.

Stupid Oshiomole and APC. By this, if PDP would have cooperated with APC, they will now devise their own strategy because it's now a fight for survival.

I thought I was the only one to have noticed this