₦airaland Forum

interesting...

na wa

nice

Bluesssssssssssss

naija

aniffy4eva: Anyone can be financially independent. The challenge is understanding what independence is.
Financial independence = Passive income > living expenses

Passive income is income you earn without you putting in active work. (e.g. using the basic form of rent) The landlord gets paid rent by his tenants every (week, month or year) without him actively working. The same can be said for people who live off dividends, directors' bonuses etc.

Living expenses is how much you spend to take care of yourself and your dependents. (e.g. accommodation, feeding, entertainment, vacations etc).

These indicators are relative and basically depend on the tastes/lifestyles of the individual and not necessarily linked to self-employment or being an employee. There are employees who earn next to nothing as salaries but enjoy enough passive income (from their various investments) to fund their lifestyles. These are the ones that usually work for fulfillment and not necessarily salaries. The same can also be said for some self-employed people.

All in all, financial independence is more a function of financial intelligence than form of employment(whether self or for others).

True

By Tobi Soniyi in Abuja

The Acting Director of Finance and Accounts at the Federal Civil Service Commission, Alhaji Hassan Tukur, who is standing trial with two others for allegedly stealing N110 million pension fund has told investigators that he used his own share of the money to travel to Saudi Arabia for pilgrimage.


In his statement to operatives of the Economic and Financial Crimes Commission (EFCC), Tukur said he also used part of the money to pay his debts and repair his house at Yelwa in Yauri Local Government of Kebbi State.
He said in the statement: "I have collected the sum of $240,000 from the amount shared.


"I used the money to settle some debts owed to my banks (Afribank) over N2 million and repairs of my house in the village. I travelled to Saudi Arabia for the Hajj. I cannot say how much I spent in Saudi Arabia. It is not proper to take money from an account that was not opened by oneself."


His alleged co-conspirator, Babatunde Abisuga, in his own statement, gave the breakdown of how the money was withdrawn and shared as follows:


"After the change of signatories, mandates were presented to the bank for the withdrawal of the money. These were done three times, the first was for N26million, second was about N40million and the third was for N42 million.


"These monies were transferred to some companies and the proceeds shared between Director, Finance and Account, Alhaji Hassan Tukur, myself and Mohammed Ndakupe.


"The Director of Finance and Accounts took N60 million, while myself and Ndakupe took N20 million each.


"We were informed that the fund was from pension and this is an unusual transaction."


Tukur, Abisuga and one other Accounts staff of the FCSC, Mohammed Ndakupe, are facing trial in connection with the fraud. They were charged with conspiracy to steal, stealing and forgery.


They were accused of making false document- the signatory mandate presented to First Bank to withdraw the stolen money. They also allegedly forged a debit mandate letter.


Out of the N60 million he collected, Tukur has refunded N15 million.
This is in addition to a $100,000 refunded by him.


On February 17, Tukur refunded additional $76,000 and another N300,000.00.


The same day, he also issued a cheque of N7.9million in favour of Federal Civil Service Commission.


The suspects were arraigned on April 3, before Justice Maryann Anennih of the Federal Capital Territory, FCT High Court on a 12- count charge bordering on fraud, conspiracy to commit fraud, forgery and fraudulent conversion of public funds totalling N100 million.
They had all pleaded not guilty to the charges preferred against them by EFCC.

http://www.thisdaylive.com/articles/pension-fraud-i-travelled-to-hajj-with-what-i-got-/113702/

so much money

na wa!

When will the conference start?

[quote link=topic=883603.msg10306194#msg10306194 date=1330599832]The hypocrisy in calls for Sovereign National Conference
Written by Mohammad Qaddam Sidq Isa Friday, 24 February 2012 05:00

What is particularly hypocritical of them is that, when they are in the system, and no matter how rotten it is, they dismiss any call for such a conference only to switch side when they are removed or lose out. For instance, Olu Falaye was rightly considered one of the principal architects of IBB’s disastrous economic policies, and Oladipo Diya was not only Abacha’s second in command but was actually one of the masterminds undermining and frustrating any move to enthrone MKO Abiola; his own tribesman, as Nigeria’s President though he was widely believed to have won the 1993 presidential election.

Moreover, they seem to be too dull to realize how they frustrate one another, because by the time some of them lose out hence switch side some others have already got there and are busy sharing the loot hence would not only tolerate any distraction but are even prepared to go to any extent in order to maintain the continuation of the status-quo, until they also lose out for others to call the shots and do the same, and the same circle and scenario continue.

So, probably once President Jonathan and indeed the entire southern politicians and even some of those who come from the north central currently calling the shots leave their offices, they would switch side and transform into self-acclaimed regional champions claiming to be pushing for restructuring the country’s structure for better benefit for their people. However, they would also be frustrated as another set of politicians would have by then already stuck their own fangs in the nation’s blood vein sucking as much or even worse as their predecessors.

Interestingly, perhaps it is only in Nigeria where a person who has held influential positions in national level including presidency would after leaving office relegate himself into a mere ethnic bigot and/or regional champion.

Yet what baffles and indeed saddens me is how these crooks get away with such crude tactics by deluding their people into believing them. Their people should wonder why these so-called ethnic and regional champions did not seriously push for their strategic regional interests when they were in the position of power in the first place. How I wish their people realized that such so-called ethnic champions are mere bloody opportunists, who are not prepared to sacrifice even their positions for the sake of their course even if there is one at all.

Incidentally, though I despise making specific references to ethnic groups especially in terms of comparison between them, however in analyzing Nigeria’s peculiar socio-political environment one sometimes finds himself compelled do so, so as to make his point clear enough.

Yoruba for instance have Afenifere while Ndigbo have Ohanaeze Nd’Igbo and both have their own militia i.e. OPC and MOSOB respectively. By the way, much to the credit of Hausa-Fulani ethnic group, they are the only major ethnic group in the country, who don’t have any ethnic based organizations to represent them let alone an umbrella organization for that matter.

Afenifere and its like-minded individuals for instance have been particularly deceptive and blackmailing. They have always tricked their arch-rivals; Ohanaeze Nd’Igbo into joining them to push for an agenda of purported common interest, only to double-cross them at the end and get away with it.

They had also managed to blackmail the north into making that foolish decision to literally select Olusegun Obasanjo and manoeuvre him back into the presidency; the price of which the country at large is still paying. They largely succeed by manipulating the media sector in which they maintain a considerable control hence manipulate it in order to achieve their vested interests.

http://www.dailytrust.com.ng/index.php?option=com_content&view=article&id=155506:the-hypocrisy-in-calls-for-sovereign-national-conference&catid=7:opinion&Itemid=12
[quote][/quote]So what r they trying to say?

funny

May his soul rest in peace. Amen.

[quote author=kj_hova link=topic=881188.msg10289962#msg10289962 date=1330421873]Obviously Nigerian youths know very little about their country. The OP's write up is a muddle of errors deliberately sensationalized to create a hightened sense of injustice. Alhaji Indimi is Kanuri from Maiduguri & not a Hausa-Fulani as purpoted by the OP. The OP's knowledge of geography and Nigeria's geo-politics appeared, at best, shallow. He kept mentioning Kano & Niger states as part of the North-East. He apparently couldn't decide if to take on the North-East or the entire Northern establishment. In spite of all the identified errors, the story is basically true in terms of existences of the various companies named as well as the ownership & line of business. But the OP still stand accused of deliberate ommission of individuals & companies of Yoruba & other origins who are equally if not more guilty of the theft in our backyard. Why mention Conoil yet fail to mention Mike Adenuga? I think the bottom line is that a thieving cabal has hijacked Nigeria for decades & this cabal cuts across every nook & cranny of the country. Any attempt by @Beaf & fellow mischief makers like him to paint a regional color to this madness is silly and baseless. Such accusations can only help to keep Nigerian youth separated in an elite inflamed "divide & rule". Wake up Naija! The Hausa man is not your problem. He's a victim like you. He's probably more of a victim than you. Focus your strenght on our worst enemy, the ruling elite!!!![/quote]You r silly.

ochibs1010:
thank you.
when we all know that 64% of the oil wells which constitute about 88 oils wells are viable with commercial quantities, yet you point accusing fingers at less than 20 oil wells controlled by some few northern elites.

who is fooling who??

Are you on drugs. What a stupid statement.

OMG . This is wonderful.

;d ;d ;d

ajafex10:
The most important of all sacrifices is to avoid occasions of sin; women, alcohol et al.

Right.

:-x :-x

boiz are not smiling.

May God forgive his sins and may his soul rest in peace. Amen.

sls has and will always be an islamic bigot

walked sluggishly outside the venue and Rabiu took to his heels to the amazement of journalists and onlookers.

only 17 kai mallam.

nice.

nice.

naija.

why do some people oppose a national discusssion?