₦airaland Forum

Import duty: Customs uncovers N6.1bn underpayment by companies - Nine banks indicted
Dele Aderibigbe, Lagos - 01.09.2009

THE new Comptroller General of Customs, Alhaji Dikko Abdullahi, on Monday announced that the Customs Service had uncovered a N6.1 billion underpayment in the value of import duty due to the Federal Government, and vowed to retrieve every kobo, in due course.


The Comptroller General, who disclosed that the service would commence the arrest of defaulters beginning from today, at a briefing held on his behalf by Deputy Comptroller Hassan Mohammed Mundu, identified nine banks which the CGC said had deliberately withheld certain documents and information, the service needed to aid its investigation to further nail more defaulters who were still illegally holding on to government revenues.


“We have discovered a huge amount of deliberate undervaluation of import even against the value suggested by Risk Assessment Report (RAR) issued by service providers. So far, Demand Notices (DN) of N6.1 billion had been raised against importers and agents who had conspired to defraud the Federal Government. These defaulters are now warned through this medium to hasten and collect the DNs, as Customs Duty Payment Investigation Team (CDPIT) has been given instruction to block out both the importers and agents involved as from today.


“As a follow up to this step, the Enforcement Unit of the CDPIT has been directed to proceed with the arrest of defaulters to ensure that all monies owed the Federal Government are recovered,” the Customs boss emphasised.


Pointing out that the service had so far recovered N2 billion, the CGC gave the names of the banks which he said had withheld vital information in respect of duty remittances from importers to the Central Bank of Nigeria CBN as FinBank Plc, Skye Bank Plc, Equitorial Trust Bank Plc, Citi Bank Nigeria Ltd, Diamond Bank Plc, Spring Bank Plc, Union Bank Plc, Sterling Bank Plc and Unity Bank Plc.


“The Service may presume any further delay (to release the information) as deliberate and may be compelled to sanction uncooperative banks,” Alhaji Abdullahi said, noting that the accounts of the 15 banks, which actually forwarded required documents, showed “discrepancies running into millions of naira.”


“This briefing will not be complete without mentioning the names of companies that are leading in the list of defaulters: Honda Nigeria Ltd owed N4.6 billion, but has since investigation, paid N1,680,324,547.


“The Orazulike Trading Company Ltd owed N453,345,537; Corporate Oil and Gas, N1,160,927,458; Intercity Commodities, N372,822,990; Coscharis N216,776,715 and Top Feeds N105,777,756,” the CGC stated further.


He stated that the operation of ASYCUDA, the automated system of keeping customs data was now being critically evaluated, with a view to making it less vulnerable to abuse, in the bid to ensure it effectively served the needs of both the government and the trading community.

Banks flout CBN directive on exchange rates

By Oluwaseyi Bangudu




August 31, 2009 08:10PMT
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Three weeks after the Central Bank of Nigeria (CBN) expressed concern over the widening gap between the Whole Dutch Auction System (WDAS) and the interbank exchange rates, some Bureaux de Change (BDCs) operators think nothing has changed still in the forex market.

According to some BDC operators at Marina, Lagos, the Central Bank needs to step up its monitoring checks and balances if it would achieve its desired stability in the forex market. Banks are clearly not adhering to the Central Bank's order of only a 50kobo spread between their buying and selling rates.

Gali Suleiman Kabiru, a representative of some BDC operators at Marina, explained that the bank rate for the dollar was fast approaching the rate at the parallel market. "Bank rate is almost the same with black market; they are selling it too high," Mr. Kabiru said. "The Central Bank is selling it to them at official rate, about N150 or N151 and then they sell it at N158 or N159. The gap is too much.

Bank officials respond

But, to a staff of Oceanic Bank, who spoke on condition of anonymity, the complaint holds no water. "It is a lie; they (BDCs) are just lying," he said. "Even after adding the charges for the various processes involved, the maximum we add on the Central Bank's rate is N1. I learnt that some banks are adding a N2 rate to the auctioned rate, but that's the maximum," he said.

An official of Intercontinental Bank explained that there was supposed to be a maximum premium rate governing the procedure. "It's between one or two per cent premium, a maximum of 2 per cent of the actual price," he said.

Central Bank concern

Earlier last month, the Central Bank, in a statement dated August 3, expressed concern at the widening spread between the auctioned price of the dollar and its interbank exchange rates. The bank's explanation for the wide variance was also stated in the circular. "This has been traced largely to authorised dealers who purchase funds at the WDAS window and sell at the inter-bank market. As a result of this activity, the end-users end up paying a high price for foreign exchange due to the arbitrage activities of the banks."

The Central Bank also reminded authorised dealers of the maximum spread in their buying and selling rates. "Authorised dealers are reminded that the spread between their buying and selling rates must not exceed 50kobo," the circular added.

It also said that funds procured from WDAS are not eligible for trading among authorised dealer banks.

However, the bank was not forthcoming on the issue when contacted. Mohammed Abdullahi, its head of corporate affairs, said in a telephone conversation that he would have to inquire from the relevant department of the regulatory body.

"Let me contact the CBN department concerned as I do not have the details of those sanctioned, if any have taken place," Mr. Abdullahi said. Then he added: "The director concerned is in a meeting."

Nevertheless, the circular had a final warning: the failure of authorised bodies to comply with its regulatory guidelines will lead to the "withdrawal of authorised dealership".

EFCC traces banks' funds to London, UAE


Nobody is untouchable, says Sanusi
By Enitar Ugwu, Saxone Akhaine and Alex Olise
THE Economic and Financial Crimes Commission (EFCC) may have traced some of the funds allegedly siphoned away by some of the five bank chiefs to mainly the United Arab Emirates (UAE) and London. This is coming as Governor of the Central Bank of Nigeria (CBN), Sanusi Lamido Sanusi, declared that there would be no sacred cows in the ongoing drive to sanitise the banking sector.

According to a source in the Commission, some of the funds also were stashed away within the country and some unnamed European countries.

"The commission would soon repatriate the funds to the country," the source added.

He disclosed further that the Commission would reveal how much each bank's chieftain laundered when they appear in court, adding "it will be in their charge sheets."

He revealed that the EFCC was still hunting for the front men and others who helped the sacked CEOs to launder the funds, which he said, runs into billions of naira.

It was because of this, he said, that the Commission has declared some of the bank chiefs wanted.

The EFCC had at the weekend declared the chairman of Abuja Chamber of Commerce and Industry, Mr. Dele Oye and Mrs. Nananshettu Bedel, wanted in connection with the ongoing investigation in the banking sector.

According to a statement issued and signed by the Commission's Head, Media and Publicity, Femi Babafemi, both suspects are wanted for offences bordering on money laundering among other things.

Both suspects are close associates of the former MD/CEO of Oceanic Bank, Mrs. Cecilia Ibru.

The commission explained that the suspects were declared wanted after all efforts to get them to honour its invitation failed.

Based on that, it enjoined anyone with useful information that could lead to their arrest to contact any of the Commission's offices in Abuja, Lagos, Kano, Gombe, Port Harcourt and Enugu."

Interestingly, the Commission over the weekend said it had recovered the sum of N19 billion from loan defaulters.

This is apart from the sum of N25.6 billion, which it said it retrieved from debtors last Thursday.

The Commission's Chairman, Mrs. Farida Waziri, had given a breakdown of the recovered N25. 6 billion as follows:

Intercontinental Bank Plc (N7.7 billion); Finbank Plc (N1.6 billion); Afribank Plc (N7.6 billion); Oceanic Bank (N8.03 billion) and Union Bank Plc (N659.2 million).

A reliable EFCC source told The Guardian yesterday that operatives of the crime-fighting agency have been sent across the country and beyond with a view to getting information about debtors' assets for possible forfeiture.

Meanwhile, the Governor of the Central Bank (CBN), Malam Sanusi Lamido Sanusi, said yesterday that hard times await those who feel untouchable in the country, saying that he was not afraid of anybody in his quest to sanitise the banking sector.

The CBN boss also added that nobody is above the law and so anyone found culpable in the current exercise would not be spared, no matter how highly-placed.

Pointing out that he was ready to expose the high and mighty and make them feel the full weight of the law of the land, Sanusi, in an interview with the Hausa Service of the British Broadcasting Corporation (BBC) monitored in Kaduna, argued that some of the loans given out were discovered to be deceitful, adding that the sacked managing directors of some of the five banks used the money to purchase private jets.

Said he: "They borrow money belonging to the people and build houses, buy aeroplanes and travel around the world. People should know that it was their money these people are using; perhaps this may prevent such misuse and sanitise the country.

"What we have seen the EFCC doing is, they sat with the managing directors of these affected banks and they gave them the names of those involved. There are those who sought for extension of time to repay the loans and were given, there are those who achieved what they wanted with the loans but had refused to pay back.

"There are those loans again that were full of deceit. It was actually the bank MDs that gave themselves the loans and established companies with the money in their names, or that of their cronies. The authorities are really behind such bank officials to get people's money."

Sanusi explained further that billionaire businessman, Jimoh Ibrahim, lied over the N14 billion loan from the Oceanic Bank, insisting that those who feel nobody can touch them will be shocked at the end of the day.

He said of Jimoh Ibrahim: "It's not true and I would not like to be exchanging words with anyone. When we investigated, we found that he got N14 billion loan from the bank. What happened was that Oceanic Bank told him if he could pay N12 billion, they would forfeit the N2 billion.

"After our examination, he went and paid N4 billion thinking he had paid out of N12 billion, remaining N8 billion. In the first place, he has not paid the N12 billion for them to give him a waiver of N2 billion. Secondly, when we went to investigate the account, as of May 31, Jimoh Ibrahim took a loan of N14 billion."

Sanusi further said that the apex bank is currently investigating 11 more banks and the outcome would be made public by the end of September.

"Investigation is on on the 11 more banks and would be completed at the end of this month , we will complete the investigation in September, " he said.

Sanusi declared: "Honestly, I am not afraid of anybody, whatever I am supposed to do, once it is within my jurisdiction, I will do it. I want to assure you that there are some people who think nobody can touch them, those people would be surprised.

"Those working in the banking sector know the problems in the banking industry more than those people outside who do not know the major problems some banks are facing. The global economic meltdown has affected Nigerian banks in two ways.

"The first is like we know that the price of oil has fallen, some banks had given out loans and when the price of oil fell, some of the debtors deliberately refused to pay and the banks lose. There were also many banks that used people's money to trade in stock exchange market, and they also lost money in that process when the stock market crashed.

"So, instead of these banks to come out like their foreign counterparts and tell the world the losses they incurred and if they needed more investment for them to source for the money, they choose to hide their problem and the CBN had continued to help them with money since October.

"So, we decided to investigate and we found out that 40 per cent of the loans given out by these banks may not be repaid. That means the banks were on the way to collapse. But in order to salvage people's money, we pumped in N400 billion into these banks."

Sanusi refused to criticise his predecessor, Chukwuma Soludo, instead, he said: "I have one principle, if you observed when I stood before the Senate; I never liked to criticise my predecessor.

"Now that I am in the office and entrusted by people, whatever needs to be amended, it is incumbent upon me to do that. What he (Soludo) had done has passed. If some people had something to say, I would not like to comment on that," he said.

Sanusi added: "People would know everything, but what we understand from our end is that those five banks had serious problems in Nigeria and had given out more loans than any other. Even if other banks have problems, such problems are not insurmountable.

"Leadership is always a difficult thing, when you investigate and found the truth, it would be improper to just keep the report on your table. When these banks crumbled, poor people with money in such banks will suffer. People had become victims of these failed banks, this step we have taken and the step we think is right is that step that would protect people's wealth. But action should be taken on these banks' executives and those who borrowed the money and refused to pay.

"Why we have to make public names of the loan defaulters is that some people have started saying it was a northern agenda that we want to crumble some of their banks. So, we decided to let the world know what was really going on. Any bank that gives out loan of N300 billion and the money is not recovered, should such bank be allowed to be or not?

"Such people that collected the loans are those who go behind to criticise, saying what is happening to the banks is wrong. So, we feel it is proper for the public to know that it is such people that are benefiting from the system. They borrow without paying back."

Ahmedoo, please describe this structure you posted.

updated 2:44 p.m. EDT, Sun August 30, 2009Next Article in World »



JERUSALEM (CNN) -- Former Israeli Prime Minister Ehud Olmert has been indicted on a variety of corruption charges in a probe that dogged his last months in office, prosecutors announced Sunday.


Former Israeli Prime Minister Ehud Olmert

Prosecutors have accused Olmert of double-billing government agencies for travel, taking cash from an American businessman in exchange for official favors and acting on behalf of his former law partner's clients.

Attorney General Meni Mazuz's office said the actions took place between 2002 and 2006, when he served as mayor of Jerusalem and in former Prime Minister Ariel Sharon's government.

Olmert spokesman Amir Dan said the former leader "can prove his innocence once and for all" in court.

"After they brought down a prime minister, it's obvious that the attorney general and the state attorney had no choice but to indict him," Dan said.

The charges include fraud, breach of trust and conflict of interest. Longtime aide Shula Zaken was also charged in the case, as well as a former travel coordinator from Olmert's office, Rachel Raz Risby.

He served as Jerusalem's mayor from 1993 to 2003 and held several Cabinet posts under Sharon, who has been in a coma since a massive stroke in 2006. Olmert became prime minister after Sharon's stroke. He announced his resignation in September 2008, after police recommended charges in the corruption probes surrounding him, and left office after a new government took power in March.

In 2008, American businessman Morris Talansky testified that he gave Olmert envelopes stuffed with cash on several occasions in exchange for help with his business ventures. Olmert said the money was for legitimate campaign purposes.

greateliso:
well; but not through this process.

*********************

Greatliso, please explain the process you have in mind. Nigeria does not currently have a democracy because there is no rule of law nor freedom of speech. It is essentially a one party state without safeguards for the cictizens.

Nigeria needs a Jerry Rawlings type revolution or one initiated by the poor masses(people power). The current occupants of power like it just the way it is and will not change the status quo unless forced.

greateliso:
we need security 4 dis nation

**************

You meant to say that Nigerians need a nation before it can be secured. Anarchy is catching up to those who have stolen and mismanaged the finances of Nigeria. It is about time Nigerian citizens start executing these thieves in government becuase they will never be reformed.

Bank collapse to cost Iceland $5bn


About 400,000 Dutch and UK savers placed money in the high-interest online account run by Landsbanki

Iceland's parliament has approved a $5bn repayment plan to compensate Britain and the Netherlands for money lost after the collapse of an Icelandic internet bank last year.

The government has said it will repay $3.8bn to the UK government and $1.9bn to the Dutch government after they had to step in to reimburse depositors in Icesave, whose parent bank Landsbankinn filed for bankruptcy.

Under the plan, Iceland will reimburse the money, plus interest, starting in 2016, with payments spread over 15 years.

Johanna Sigurdardottir, the country's prime minister, said that her government "was hopeful that the Icesave issue would now be concluded in a mutually satisfactory manner".

Strong opposition

Thirty four poltiicians voted in favour of a bill to award the compensation in the 63-seat parliament, with 15 against and 14 abstentions.

In-depth

Anger and uncertainty in Iceland
Placing the blame in Iceland
Iceland's new political landscape

Britain's finance ministry gave a cautious response, saying it supported Iceland's commitment to repay its debt but would carefully review conditions placed on the loan.

There had been strong opposition to the "Icesave bill" with critics arguing that it would put undue pressure on the tiny North Atlantic nation to force it into making repayments it could not afford.

There was also anger that the British government invoked anti-terrorism legislation to freeze Icesave's accounts in the UK.

The government had agreed a deal with Britain and the Netherlands in early June but many Icelanders were unhappy with the conditions.

After weeks of political jockeying, amendments were added to the bill setting a ceiling on the repayment based on the country's gross domestic product (GDP).

Banks' mistakes

Anger over the issue is unlikely to end with the bill's passage and those arguing that Iceland should stay outside of the European Union are expected to use the deal to stoke anti-Brussels sentiment.

Icelanders, already reeling from a crisis that has left many destitute, are furious over the idea of paying for mistakes made by private banks under the watch of other governments.

The Icelandic government had argued it had little choice but to make good on the debts if it wanted to ensure financial aid continued to flow.

About 400,000 savers placed money in the high-interest online Icesave account.

The British and Dutch governments eventually covered money lost in the accounts but had demanded repayment from Iceland.

Up to four per cent of Iceland's GDP could be paid to Britain in sterling terms from 2017 to 2023, and up to two per cent in euro terms to the Netherlands, according to a draft document of the bill.

Pennywise:
Cecilia Ibru is such an adorable woman with a pleasant personality. You cant help but love that woman. Could she have been pushed by matrimonial circumstances? I mean 1.7 billion pounds out of one Nigerian bank?

She is the second and only surviving wife of the billionaire business magnate whose health has been reported to be precarious in recent times. Was Cecilia trying to position herself favourably in anticipation of the inevitable? This has the potential of triggering a major intrafamily feud. She is also the mother of Oboden Ibru a recognizable figure in Oil and gas (translate diesel and petrol importer). If he got financing from Oceanic bank (like I am sure he did) did he pay due interest and charges?

I can tell the tabloids are getting excited already and will be going in for the kill in the week ahead. We dont have the Kennedy family, but we do have the Ibrus

*****************

Pennywise, I hope you are not making excuses for Mrs Ibru because she is adorable and her husband is a billionaire. This is the more reason she should not have engaged in fraudulent activities that have wiped the value of the shareholders of the bank. Giving loans to a bank customer who presented a false identification is a Federal offense. I am sure the bank knew that or should have known that Ms Nanashetu Abudlai and Priscilla Bedell were one and the same. This is what due diligence is about.

Remember that the money in Oceanic bank does not belong to Mr&Mrs Ibru but to every investor and shareholder of the bank. Do you know how many Nigerians have had their hard earned dollars wiped out by the mismanagent in Nigerians banks?

Remember that an american billionaire Martha Stewart went to prison for selling her shares because of inside information she received from her boyfriend who was the Chief Executive of the firm. Ms Stewart only made a profit of $30,000.00 from the transaction yet she was found guilty of insider trading. The Chief executive was alos sent to prison for a longer term.

Nigerian banks are a reflection of the wider society and they are just as corrupt as the general population. It is time for Nigerians to stop worshipping rich people and realize that the actions of these so called wealthy people are taking food, health, safety and security away from ordinary Nigerians. The rich can always go to the best hospitals in Europe and send their children to foreign schools while Nigeria burns under poverty.

Ethnicity has nothing to do with cleaning house in the Nigerian financial sector. Nigerians are always quick to hide under the the cover of ethnic or religious affiliation. Corruption and mismanagement in the banking sector have no ethnic or religious exclusivity. It had been an open secret for a while that the Nigerian banking sector was living on borrowed time but Mr Soludo did not or could not do anything about it.

Nigerian banks decided to become Las Vegas casinos by gambling with shareholders funds in the highly speculative equities markets. Banks started acting as brokerage houses by giving out risky loans to friends and families to gamble in the stock market. While the share values of these banks have crashed they continue to report phanthom profits based on unconventional accounting standards.

Nigeria has too many banks based on the size of her GDP. These banks are now for the most part illegal currency speculators- does round tripping sound familiar. It is time to restore some sanity and confidence to the banking sector. Go Sanusi.

Send your complaints about Dele Momodu and his brand of sycophantic servitude to :editor@thisdayonline.com. I have sent mine.

CBN hammer latest: Police expose bankers
•SFU reveals how bankers milk banks, customers
By CHIOMA IGBOKWE
Saturday, August 29, 2009


•Moses Sabo
Photo: Sun News Publishing
More Stories on This Section
At a time the Economic and Financial Crimes Commission (EFCC) is prosecuting some bank chiefs, in connection with the sack of five managing directors by the Central Bank of Nigeria (CBN), the police have revealed that there is much more rot in the banking sector than people know.

According to the Commissioner of Police, Special Fraud Unit (SFU), Lagos, Moses Sabo, bankers are to blame in some of the scams in the banks. He said that cases before his unit showed that bank workers cut corners and put their banks in excessive risks for their selfish ends. He added that these bad practices go on daily but not reported, as they are seldom reported.

The Governor of the CBN, Mallam Lamidi Sanusi, had, on August 15, 2009, sacked Mr. Erastus Akingbola (Intercontinental bank); Okey Nwosu (Finbank); Sebastian Adigwe (Afribank); Mrs. Cecilia Ibru (Oceanic bank) and Bartholomew Ebong (Union Bank). This was sequel to the audit of the banks and the subsequent discovery that they had liquidity problem. Since then, Nigerians have been inundated with reports on the things going on in the banks.

Speaking from experience, Commissioner for police, Special Fraud Unit, Moses Sabo, told Saturday Sun that if the CBN and the EFCC beam their searchlight more on bank staffers and executives, they would uncover much more scandalous scams. He said that bank personnel are always involved in the cases of fraud or non-payment of loans.

The police boss said: “In the banking system, before any loan facility is given, you are expected to drop your collateral and Certificate of Occupancy of the property. Bankers encourage borrowers to present fake documents and pretend to have verified them because of selfish interest. When such loans are not paid, the bank cannot hold on to anything. Meanwhile, the bank officers who arranged it would have been paid his commission by the borrower, knowing that the loan would end up as bad one, which the banks would write off and bear the loss. There is no case of bad bank loan where personnel of the banks would not have collaborated.”

Sabo said that banks do not screen people they employ well enough to know their traits. He was unequivocal in saying: “Banks employ in a hurry. They bring into the system people they cannot really vouch for. Such people defraud the system. When you bring someone who read Geography and you make him operations manager in the bank, because he does not have the basic training he is likely to be tempted to divert funds. Such people are mainly caught because they are always unable to close their tracks. Bank managements should ensure that they screen those that they employ even those that are qualified.”
Sabo cited ATM scam as a coordinated fraud from within the banks. He said that although most Nigerians have accepted and commended e-banking, they are being defrauded from it daily.

He revealed: “If you look at how it works, you will be sure that the bankers know the pin code. There are always insiders who give these pin numbers to their collaborators outside the bank to withdraw your money. We had investigated a case where someone opened an account with N100, 000 but surprisingly he withdrew more that 12 million from that account through ATM. He did that in collusion with an insider. For instance, every ATM system has a camera.

When you withdraw money that camera would capture your photograph. But in this particular case somebody in the bank always shot down the camera when his collaborator made withdrawals. The man withdrew N12 million through several withdrawals and was not photographed. It was only at the last withdrawal when another person in the bank, who was not part of the fraud, discovered that the camera was off and put it on. The fraudster was then photographed. That was how the bubble burst.”

The police chief said that bank workers also pinch depositors’ money. He cited the case of Tochukwu Abazu, an executive with one of the new generation bank, who smartly transferred money to the tune of N1billion to her husband’s account, Uchenna. When the bank discovered the fraud, Tochukwu was arrested, while her husband ran away. The couple later returned the money and is currently facing the wrath of the law.

He said: “Also, there was a lady whose late husband left millions of naira in the account. She went to make withdrawal only to realize that the account is empty. Who took the money? The bank is yet to explain. The simple fact is that banks move money by tampering with figure and close their tracks, except for some who leave footprints.

“There was also a case where one bank executive transferred money from people’s accounts to her husband’s to the tune of one billion Naira. It took the doggedness of the police to arrest the husband, who is facing the wrath of the law.”
On how people easily get loans they don’t pay back, Sabo explained that in most of the cases investigated, they discovered that the people clone C of O. He said that bank workers go out of their way to invite their friends to apply for loan with fake property documents. He said that because the bank executive knows that the C of O is fake, he or she would not go to the land registry for verification. After the loan has been issued, the banker would get his share of the money while the individual will walk away with the money, with no plans of paying back.

The commissioner of police said that the magnitude of fraud in the banks is unprecedented. He said that the country has never experienced such fraud boom.
He said: ‘Ten years back, bank fraud was not as outrageous as it is today. Then fraudsters like Ade Bendel and others would go and dupe the white men through wire transfer, but still we arrest them. It has escalated to the stage that we have to tighten out belt. In the next 10 years, if we do not put a stop to fraud there will be no adjective to qualify its level.

“It’s so bad that children as young as 15 no longer go to school, but prefer to delve into Internet fraud. We arrest many of them weekly and in a particular case one of such children, who were arrested, used the name of his father to buy a car and his father was defending him till it dawned on him that he would go in for it instead of the boy.”

It would be recalled that the Nigerian Deposit Insurance Corporation (NDIC), in 2001, reported the country’s banks lost about $10million in scans involving bank workers. It revealed that by 2002 the fraud increased by more than 40 per cent, as the total amount stolen was N1.29billion. The fraud has risen to N12.91billion.

Most of the thefts, NDIC said, were the result of either forgeries or illegal withdrawals from customers’ accounts.
On the SFU’s success in prosecuting bank officials, Sabo stated that on a weekly basis people are brought to book.
“It is our duty to arrest, investigate and charge the person to court. We have succeeded in doing that and it’s left for the court to ensure that they are punished accordingly. We have such cases on a weekly basis and these boys are being fished out and the banks are expected to sack them,” he said.
The CP said that the SFU, since 2009, has been able to recover millions of naira, which has been returned to the banks involved.

smogville:
My people,
Lets use the power we have at our disposal by writing en-masse to the editors and publishers of Thisday newspaper, for the removal of Oga Dele's column from the paper.
We can win this battle if we all put our hands on deck to make it work.
Lets shun tribalism or sectionalism, it has not helped us as a nation before, it wont do so now.
Let's look at the big picture, Naija must beta and it begins with us. If you are reading this , this is a clarion call.

**********************

Smogville, your idea to send emails to the newspaper that is providing a forum to Dele Momodu is excellent. I sent an email to him at ThisDay but I have not yet received a response from him. His email: delemomodu@thisdayonline.com. Does anyone have the email address of the Editor of Thisday newspaper so I can forward my letter to him?

Dele Momodu is a glorified photo journalist who pretends to be serious journalist. Do not spend your hard earned dollars to buy Ovation or ThisDay.

Here is Dele Momodu's email: delemomodu@thisdayonline.com. I sent him an email  couple of days ago and I am still waiting for his response. Send Dele Momodu an email to let him know what you think of his diatribe against Nigerian youths and his brand of yellow journalism.

It is not the Nigerian youth that has run Nigeria into the ground but rather recycled old hacks whom Dele never fails to celebrate. Do not stoop to Dele's low level of discourse, be brief, concise and respectful in your comments while pointing out the fallacies in his twisted logic.

It is only in Nigeria that someone of Dele Momodu's skill set will parade himself as a serious journalist. Use the power of your pockets and do not buy his Ovation or ThisDay trash.

Can anyone provide Gov. Suswan's email address so I can tell him how the white man governs his people and why they do not run around kidnapping Governors. It is a shame that most major cities in America are now safer than Nigeria.

Dele Momodu is part of the Nigerian problem instead of the solution. The media is a reflection of the Nigerian citizenry and they have been compromised by money and fear of the ruling elite and military Generals. Has Dele Momodu used the power of his medium to expose the blatant corruption and stealing of money meant for NEPA(PHCN) by politicians that has kept Nigeria in darkness? Does he know anything about investigative journalism?

Notice that Dele Momodu even complained about the bribe he paid at the border. He could have recorded that crime and forwarded the informtion to the authorities. Dele Momodu should take a ride along the Lagos-Ibadan highway and record the open solicitation of bribes by corrupt police and customs agents.

Dele Momodu is not a journalist but practices sycophantic servitude to corrupt and inept politicians and army Generals.

All Nigerians are supposed to be equal in the eyes of the law in a democracy. This should be apparent to Mr Akintola SAN(Stupid Advocate of Nigeria). This is more reason why the archaic colonial hangover that discriminates against lawyers should be thrown in the dust bin. Mr Akintola's client has an obligation to turn herself in since she is aware of the arrest warrant instead of waiting to picked up in cuffs.

Zero and setting Nigeria back years. He has already started to increase Nigeria's foreign debt while depleting the external reserve.

This is yellow journalism at its best. Why is it that a national newspaper like the Tribune cannot mention the names of these absentee Governors? We have a democracy in Nigeria and there is supposed to be freedom of the press and speech.

I strongly support this statement. Nigeria needs the Rawlings example that happened in Ghana.

Just like Jerry Rawlings did in Ghana. Remember folks, Ghana was once as corrupt as Nigeria and look at where they are now. I say get them all.

One man's terrorist is another man's freedom fighter. Mandela and Arafat were once called terrorists.

Thought provoking and profound piece. The sad part is that the illiterate Nigerian Generals will not be able to read this piece.

By Godwin Oritse
THE Ghanian Maritime industry has again beaten its Nigerian counterpart to the simplified cargo clearing process as it commences the electronic cargo clearing process.


Cargo Ship
Sources close the Ghanian Ports and Harbours Authority said that the entire cargo clearing process in that country has been up graded beyond Nigeria Automated System of Customs Data (ASYCUDA) to a more efficient and internationally accepted customs data information system.

Besides, it was gathered that the GCNET system that the government introduced into its clearing system is a lot better and more efficient than the ASYCUDA 3. 0 that Nigeria is currently operating

Vanguard learnt that as a result of the new clearance procedure, a container can leave the port of Tema within six hours of its arrival, while it takes at least seven to ten days for this same thing to happen in Nigeria.

Unlike in Nigeria where there are Customs long rooms abound in nearly all the ports in the country, the Ghanian Port and Harbours Authority has successfully done away with the issue of long room

In Ghana, there are four Bonded warehouse facilities or Inland Container Depots where containers are taken to when they arrive .

It is in these Bonded warehouses or ICDs that containers are examined and duty raised for the for the importer to pay.
One of these ICDs, Vanguard further belong to the government while remaining three are owned and operated by private bonded warehouse operators.

The clearing process in Ghana starts when the agent submits duly released delivery order (DO) at the information desk of GJT to check with central data office for information on cargo.

If the cargo is at the terminal, the agent pays the relevant charges at the revenue section next to the information desk.
The information desk collects all delivery orders and submits them to the container freight station (CFS) for processing.

Agent presents the declaration and terminal payment receipt as evidence of lodgment of delivery order to the security detailed at the entrance to check, confirm and thenallow the agent entry.

At CFS, cargo located and then positioned for CEPS physical examination. After successful examination the CEPS official endorse the declaration as “delivery allowed” and electronically sends this information onto GCNET
The agent is issued with a Vehicle Appointment Notice (VAN) to enable him purchase an entry toll for the truck to come and load the cargo

The agent present the waybill to the audit section for final clearance then proceed to the exit gate for all documents to be checked by Customs, Excise and preventive Service (CEPS) GPHA security detailed there to check and allow final exit as appropriate.

After proceeing to the waybill unit. the staff in charge will scrutinize the Delivery Order, Terminal Receipts/ Invoice, Customs Declaration and also confirm with GCNET if delivery is allowed for that cargo after which he endorses the DO for waybill/ delivery tally sheet (DTS) to be issued.

He then present the waybill to the audit section for final clearance then proceed to the exit gate for all documents to be checked by Customs, Excise and preventive Service ( security detailed there to check and allow final exit as appropriate.

By Godwin Oritse
THE Ghanian Maritime industry has again beaten its Nigerian counterpart to the simplified cargo clearing process as it commences the electronic cargo clearing process.


Cargo Ship
Sources close the Ghanian Ports and Harbours Authority said that the entire cargo clearing process in that country has been up graded beyond Nigeria Automated System of Customs Data (ASYCUDA) to a more efficient and internationally accepted customs data information system.

Besides, it was gathered that the GCNET system that the government introduced into its clearing system is a lot better and more efficient than the ASYCUDA 3. 0 that Nigeria is currently operating

Vanguard learnt that as a result of the new clearance procedure, a container can leave the port of Tema within six hours of its arrival, while it takes at least seven to ten days for this same thing to happen in Nigeria.

Unlike in Nigeria where there are Customs long rooms abound in nearly all the ports in the country, the Ghanian Port and Harbours Authority has successfully done away with the issue of long room

In Ghana, there are four Bonded warehouse facilities or Inland Container Depots where containers are taken to when they arrive .

It is in these Bonded warehouses or ICDs that containers are examined and duty raised for the for the importer to pay.
One of these ICDs, Vanguard further belong to the government while remaining three are owned and operated by private bonded warehouse operators.

The clearing process in Ghana starts when the agent submits duly released delivery order (DO) at the information desk of GJT to check with central data office for information on cargo.

If the cargo is at the terminal, the agent pays the relevant charges at the revenue section next to the information desk.
The information desk collects all delivery orders and submits them to the container freight station (CFS) for processing.

Agent presents the declaration and terminal payment receipt as evidence of lodgment of delivery order to the security detailed at the entrance to check, confirm and thenallow the agent entry.

At CFS, cargo located and then positioned for CEPS physical examination. After successful examination the CEPS official endorse the declaration as “delivery allowed” and electronically sends this information onto GCNET
The agent is issued with a Vehicle Appointment Notice (VAN) to enable him purchase an entry toll for the truck to come and load the cargo

The agent present the waybill to the audit section for final clearance then proceed to the exit gate for all documents to be checked by Customs, Excise and preventive Service (CEPS) GPHA security detailed there to check and allow final exit as appropriate.

After proceeing to the waybill unit. the staff in charge will scrutinize the Delivery Order, Terminal Receipts/ Invoice, Customs Declaration and also confirm with GCNET if delivery is allowed for that cargo after which he endorses the DO for waybill/ delivery tally sheet (DTS) to be issued.

He then present the waybill to the audit section for final clearance then proceed to the exit gate for all documents to be checked by Customs, Excise and preventive Service ( security detailed there to check and allow final exit as appropriate.

Why were mobile policemen guarding the house of a thug instead of protecting innocent helpless people. He probably staged the kidnapping in order to get back his withdrawn mobile police protection. Who does he need protection from? This thug will traumatize people but needs public protection at the expense of the public.

I hope his captors are giving him the type of treatment he has given to his victims.

Why celebrate Democracy Day when there is no democracy in Nigeria? How many bills have these guys legislated into law? If anyone has the email address of these sad group in Abuja, please post it. We can all email our outrage to them.

Nigeria has become a one party banana republic in the guise of Zimbabwe and Robert Mugabe.

Ghana just had a election where the Opposition party won the Presidency. I do not see that kind of outcome in Nigeria in my lifetime. Now we have the farce of a celebration.

Please post emails or link to the members of the federal house and Senate if available. Hopefully some of them might be able to read.