Jpphilips's Posts
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 Politics › Re: An Open Letter To Nnamdi Kanu By Ifedimma Onwugbufor by jpphilips(m): 1:08pm On Oct 22, 2018 |
majamajic:Which Angle was he approaching from before criminal Atiku showed up? you have seen that Atiku's dollars didn't work on the guy, you are whining, stay on course, no election in Biafra land. 42 Likes 5 Shares |
| Politics › Re: An Open Letter To Nnamdi Kanu By Ifedimma Onwugbufor by jpphilips(m): 1:06pm On Oct 22, 2018 |
Optional09:God bless you, just make sure you boycott the election. 46 Likes 6 Shares |
| Politics › Re: An Open Letter To Nnamdi Kanu By Ifedimma Onwugbufor by jpphilips(m): 12:51pm On Oct 22, 2018 |
BeautifulMind2:When he was disturbing Buhari, he was a hero, now he is disturbing Atiku's interest you are whining, shut up and eat your Biafra, lunatics!! people that reason with their Lungs. Biafra must come, that referendum must hold or no elections, Kanu must send that hell. if anyone goes to the poll, Kanu's BSS will rain hell on the person, Buhari can gladly take his security to other states where it is needed. You hate Buhari right? now you will know Buhari is Jesus!! 145 Likes 18 Shares |
| Politics › Re: EFCC Files 11 Charges Against Fayose (Full List) by jpphilips(m): 12:44pm On Oct 22, 2018 |
TheOdd1sOut:Count 1 is ridiculous, doubt if the EFCC can prove more than 3 counts there, but count 2 is a sure banker though the sentence is not long. |
| Politics › Re: Nnamdi Kanu Is Working For Buhari’s Second Term - Deji Adeyanju by jpphilips(m): 12:38pm On Oct 22, 2018 |
When he was disturbing Buhari, you were calling him a freedom fighter, a hero, today, he is disturbing Atiku's interest, you say he is working for Buhari,  Deji has mental problem. 1 Like |
| Politics › Re: Igbo Group Dares Kanu, IPOB Over 2019 Elections by jpphilips(m): 12:30pm On Oct 22, 2018 |
murphyibiam15:When the same Kanu was disturbing Buhari, he was a hero, a freedom fighter, now disturbing Atiku's interest, he is a loser What goes around they say comes around. Biafra is about to die a natural death 38 Likes 6 Shares |
| Politics › Re: NNAMDI KANU Aided By Mossad,Israel Country's Spy Agency. BBC by jpphilips(m): 11:57am On Oct 22, 2018 |
TheZooHasFalln:Bros hope you will boycott that election, the zoo will shake 1 Like |
| Politics › Re: NNAMDI KANU Aided By Mossad,Israel Country's Spy Agency. BBC by jpphilips(m): 11:56am On Oct 22, 2018 |
krattoss:Biafra or death, hail IPOB 1 Like |
| Politics › Re: All BMCs Calling Atiku Thief or Corrupt ...lets Do A Test! by jpphilips(m): 11:52am On Oct 22, 2018 |
Amitez:You could have just recommended Evans for president since you reason with your weed packed lungs, why stop at Atiku alone? 3 federal indictments in a space of 10yrs? Atiku is not an ordinary criminal, he is criminality personified. 3 Likes 1 Share |
| Politics › Re: Kaduna Crisis: Gunshots, People On The Run! Photos And Videos by jpphilips(m): 9:47am On Oct 22, 2018 |
sacajawea:11 administrations? what was the Economic strategy of the Shagari administration? 3 Likes |
| Politics › Re: See How President Buhari Runs Our Economy (photo) by jpphilips(m): 9:43am On Oct 22, 2018 |
A lot have been said about Buhari, how he brought hardship on Nigerians, how he is responsible for all the suffering in Nigeria, is that theory backed with facts and global economic realities or the shenanigans of few individuals basking in the Euphoria of ignorance? Since I must make a choice between our present loud political gladiators, I armed myself with Economics textbooks and news archive, here is what i discovered. Nigeria an oil producing and oil dependent economy suffered a global economic hit called crude oil price shock it is the sudden drop in price of crude oil in the commodity trading market, it has occurred at different times in History nearly every decade. Countries that are hardest hit by crude shock are basically countries that not only produce crude oil in significant amount but solely depend on it as their foreign exchange earner. While oil shocks have asymmetric effects in oil-exporting developing countries; lower oil prices lead to major revenue cuts and ensuing stagnation in the economy, but higher oil prices and accompanying higher revenues do not translate into sustained economic growth. What are the effects of crude shock in oil producing developing economy? Forex scarcity: Most developing economies whether oil producing or not depend on importation to survive, where foreign currency becomes scarce, industries, individuals that have significant need for forex will likely close shops giving birth to the second problem unemployment then finally the master Recession. Unemployment: When industries no longer have forex to buy spare parts, can no longer afford raw materials, production slows, sales slows, profit eroded, workers sacked, since the volume of activities in the economy is directly proportional to the GDP, the GDP contracts and birth another economic monster Recession. Recession is a chain reaction of unpalatable economic events that shows the economy is not experiencing growth but contracting, lets look at the effects of recession, high energy cost (energy in most developing economies are subsidized one way or another) crude shock and eventually recession erodes government revenues till a point where it could no longer afford subsidies and other things it used to afford. In Nigeria where our Electricity Generation companies are subsidized, petroleum products are subsidized,you will understand that such partial or complete subsidy removal will quickly skyrocket the cost of living generally, transportation, cost of food etc are equally affected that leads to another monster called Inflation. Inflation: is defined as a phenomenon where huge bills are in search of few goods, how is that possible? when the industries that produce goods closed down, imports could not be sustained due to Forex shortages where will the goods come from? the absence of those goods while the bills remain triggers inflation, causes hunger and eventually poverty and devaluation of local currency. Devaluation is when global reserve currencies trade higher than your currency, of course you recall that an economy in crude shock first suffers Forex shortages, that robs the central bank (in the case of Nigeria) the ability to fix the currency at a reasonable exchange rate. The local currency is allowed to float along a band the cbn thinks may not be too hurtful to the economy. Forex ban is placed on certain commodities, debit cards like Visa, Mastercard et al are all placed on monthly transaction limits as a reflection of the reality of forex shortages. Between 2015-2018, all these happened in the Nigerian economy, then I asked "are we the only oil dependent economies in the world? why us alone? The answer took me to several countries in the world and I realized that other oil producing countries dont depend on oil alone, countries like Russia though the largest producer of crude oil in the world, has a robust defense industry that contribute significantly to its GDP, Russia equally enjoys large market shares in Gas distribution in Eurasia, by the time crude oil shock hit, Russia had over $400b in reserves, It became clear that the only economic move that could hold off crude oil shock and other global economic shocks is a robust foreign exchange reserves (Savings). Permit me to take us down our economic history, in 2008 during the global melt down, the then CBN governor prof. Chukwuma Charles soludo bragged that the Nigerian economy is immune to global shocks? That would have sounded ridiculous but it is true, what did he do? they launched an economic strategy called National Economic Empowerment And Development Strategy NEEDS. This strategy recommended that once crude oil is sold, the balance above the budget benchmark is kept in an account called the ECA, by the time that government left and another took over in 2007, both the ECA & Foreign reserve account held over $68b in reserves, in a $200b economy at the time, that reserve was significant enough to whither any storm that comes the way of our economy, Much later into the crisis, Nigeria later relaxed its exchange rate to 155 to a dollar. now we know that Nigeria had in the past stood resilience in the face of global shocks with a culture of Savings. Fast forward to 2015, The top four producers of crude oil in Africa by their production, Nigeria, Angola, Algeria and Egypt were all in recession even though Egypt does not significantly depend on oil but her economy was shattered. Algeria escaped recession because by 2014, just like Nigeria in 2008, Algeria had a foreign reserve balance of $90b in a $156.1b economy.You can see that the Robust reserve of Algeria was their savior in this modern crude shock era. The previous administration in Nigeria boasted of leaving behind a paltry $19b for a $500b economy at the time, that amount is not even enough to pay for imports let alone absorb global economic shocks, so Nigeria can be rightly described in late 2014 as an oil dependent economy with no savings. How important is this savings? Lets take our research to the Second largest producer of crude oil Angola, just like Nigeria with no significant savings, Angola's challenges needs no introduction, let facts speak for itself Angola suffered severe Forex & currency challenges just like Nigeria. According to Bloomberg They not only devalued their currency, they equally allowed it to float like Nigeria's Angola devalued its currency as the OPEC member sought to revive an economy still reeling from the oil-price crash four years ago. The kwanza fell 11 percent to 187.95 per dollar by 3:35 p.m. in Luanda and depreciated 10 percent to 221.75 against the euro. The move came a day after the central bank allowed the currency to weaken in its first auction of foreign exchange since announcing it would end a dollar peg that’s been in place since April 2016.....BloombergBorrowing to fund Budget deficits, just like Nigeria, Angola has borrowed to the point of requesting a bail out from the IMF https://www.vanguardngr.com/2018/08/angola-says-to-request-4-5-bn-imf-loan-as-crisis-lingers/ Unemployment Rate in Angola increased to 20 percent in 2017 from 19.90 percent in 2016. https://tradingeconomics.com/angola/unemployment-rate Inflation in Angola was a whooping 23.67 percent in December 2017, data on the national statistics agency's website showed on Wednesday. Price growth on a month-on-month basis rose to 1.47 percent in January from 1.2 percent previously. Poverty in Angola According to Angola's 2001 MPI, more than 77% of the population was multidimensionally poor. ... The latest available World Bank figure for income poverty in Angola, from 2008, shows that 36.6% of the population is income poor. Angola's population is currently estimated at 29.7 million. I can go on and on the list is endless, as a matter of undeniable fact, Angola just like Nigeria are the largest producers in Africa, they practically did not save enough and they were hit hard by crude price shock. to balance the analysis, it will be unfair to discuss those that didn't save without giving kudos to those that saved, like i said previously, Algeria save a whooping $90b when the going was good, as such its economy was immune to crude shock. Russia like we said though had currency challenges during the period under review ostensibly because of western sanctions, Russia had over $400b in reserves by ending of 2014. Saudi Arabia was immune to crude shock not without little currency & subsidy issues ostensibly because of its huge financing of the war in Yemen, they were sitting on a comfortable $732b by the end of 2014. Some even blamed it on Avengers attack of 2016 Niger delta avengers was a non issue, if you noticed, I expunged them from my analysis, here is why; You were in crude shock from late 2014, Avengers struck in 2016, since 2014, your GDP wasn't showing any growth but retrogression or doldrums meaning you were heading towards recession anyways as a result of crude shock. If Avengers did not strike, OPEC would have asked us to cut production to boost prices, read: https://www.bloomberg.com/news/articles/2016-09-28/opec-said-to-agree-on-first-oil-output-cut-in-eight-years So Avengers or any form of production cut at the time was a non issue. Nigerian people, what is your present government doing to stem this tide that has shocked the fabrics of our nation to the Marrow? The vice president being the economic manager of the country Launched the EGRP, with it Nigeria even in recession was able to save $47b in our foreign reserve, at this pace, I have no doubt that this money will hit $100b in the next 4yrs, that is a guarantee that our economy will become immune to global shocks, not just crude shocks. (Algerian model) The moment that money crossed $40b, forex shortages disappeared, importers stopped complaining, debit cards relaxed their limits etc, that was a killer stroke in our economic recovery strategy.inflation has responded to the potency of the EGRP to 11.23% from 18.8%. Nigeria is building a Gas liquefying plant called the NLNG train 7 project, that will in a way increase revenue from Gas against depending on oil alone, there are other ongoing Gas projects like the AKK projects and other Gas for power projects (Russian model) https://www.vanguardngr.com/2018/07/nnpc-signs-agreement-for-seven-critical-gas-projects/ In conclusion, I can state for a fact that the economic challenges of this country has nothing to do with Buhari under the circumstances he met on ground, we have a chance to fix culpability of blames where it rightly belongs on crude shock, or replace this government whose framework seems promising with another leadership of questionable integrity. past government whose inaction landed us in this mess in the first place. A leadership in the past that we tasked to privatize our industries, all failed save for the one that ended up in his pocket, yet he claimed to create Jobs? How many jobs were lost in that privatization scam where 56 government entities perished? Where is our NITEL, ALSCON, Nicon Insurance to mention a few? Leadership that claims to create jobs but his company PRODECO folded up? Leadership that claim to create jobs yet it was Buhari that sacked foreigners littered everywhere in his company, does an ordinary logistics company need that much foreigners? Leadership that is a case study for corruption and money laundering by the US Senate committee on Homeland security, Leadership that preaches restructuring but but enjoys monopoly in Niger delta sea ports? Atiku is a walking scam, may we not walk into the scam called Atiku because of lie peddled and perfected by the same holocausts that landed us in bondage, every scam comes with a loud noise, say No to Atiku......... 1 Like |
| Politics › Re: BREAKING] PHOTOS: Fayose Arrives Lagos Court In High Spirits by jpphilips(m): 9:41am On Oct 22, 2018 |
A lot have been said about Buhari, how he brought hardship on Nigerians, how he is responsible for all the suffering in Nigeria, is that theory backed with facts and global economic realities or the shenanigans of few individuals basking in the Euphoria of ignorance? Since I must make a choice between our present loud political gladiators, I armed myself with Economics textbooks and news archive, here is what i discovered. Nigeria an oil producing and oil dependent economy suffered a global economic hit called crude oil price shock it is the sudden drop in price of crude oil in the commodity trading market, it has occurred at different times in History nearly every decade. Countries that are hardest hit by crude shock are basically countries that not only produce crude oil in significant amount but solely depend on it as their foreign exchange earner. While oil shocks have asymmetric effects in oil-exporting developing countries; lower oil prices lead to major revenue cuts and ensuing stagnation in the economy, but higher oil prices and accompanying higher revenues do not translate into sustained economic growth. What are the effects of crude shock in oil producing developing economy? Forex scarcity: Most developing economies whether oil producing or not depend on importation to survive, where foreign currency becomes scarce, industries, individuals that have significant need for forex will likely close shops giving birth to the second problem unemployment then finally the master Recession. Unemployment: When industries no longer have forex to buy spare parts, can no longer afford raw materials, production slows, sales slows, profit eroded, workers sacked, since the volume of activities in the economy is directly proportional to the GDP, the GDP contracts and birth another economic monster Recession. Recession is a chain reaction of unpalatable economic events that shows the economy is not experiencing growth but contracting, lets look at the effects of recession, high energy cost (energy in most developing economies are subsidized one way or another) crude shock and eventually recession erodes government revenues till a point where it could no longer afford subsidies and other things it used to afford. In Nigeria where our Electricity Generation companies are subsidized, petroleum products are subsidized,you will understand that such partial or complete subsidy removal will quickly skyrocket the cost of living generally, transportation, cost of food etc are equally affected that leads to another monster called Inflation. Inflation: is defined as a phenomenon where huge bills are in search of few goods, how is that possible? when the industries that produce goods closed down, imports could not be sustained due to Forex shortages where will the goods come from? the absence of those goods while the bills remain triggers inflation, causes hunger and eventually poverty and devaluation of local currency. Devaluation is when global reserve currencies trade higher than your currency, of course you recall that an economy in crude shock first suffers Forex shortages, that robs the central bank (in the case of Nigeria) the ability to fix the currency at a reasonable exchange rate. The local currency is allowed to float along a band the cbn thinks may not be too hurtful to the economy. Forex ban is placed on certain commodities, debit cards like Visa, Mastercard et al are all placed on monthly transaction limits as a reflection of the reality of forex shortages. Between 2015-2018, all these happened in the Nigerian economy, then I asked "are we the only oil dependent economies in the world? why us alone? The answer took me to several countries in the world and I realized that other oil producing countries dont depend on oil alone, countries like Russia though the largest producer of crude oil in the world, has a robust defense industry that contribute significantly to its GDP, Russia equally enjoys large market shares in Gas distribution in Eurasia, by the time crude oil shock hit, Russia had over $400b in reserves, It became clear that the only economic move that could hold off crude oil shock and other global economic shocks is a robust foreign exchange reserves (Savings). Permit me to take us down our economic history, in 2008 during the global melt down, the then CBN governor prof. Chukwuma Charles soludo bragged that the Nigerian economy is immune to global shocks? That would have sounded ridiculous but it is true, what did he do? they launched an economic strategy called National Economic Empowerment And Development Strategy NEEDS. This strategy recommended that once crude oil is sold, the balance above the budget benchmark is kept in an account called the ECA, by the time that government left and another took over in 2007, both the ECA & Foreign reserve account held over $68b in reserves, in a $200b economy at the time, that reserve was significant enough to whither any storm that comes the way of our economy, Much later into the crisis, Nigeria later relaxed its exchange rate to 155 to a dollar. now we know that Nigeria had in the past stood resilience in the face of global shocks with a culture of Savings. Fast forward to 2015, The top four producers of crude oil in Africa by their production, Nigeria, Angola, Algeria and Egypt were all in recession even though Egypt does not significantly depend on oil but her economy was shattered. Algeria escaped recession because by 2014, just like Nigeria in 2008, Algeria had a foreign reserve balance of $90b in a $156.1b economy.You can see that the Robust reserve of Algeria was their savior in this modern crude shock era. The previous administration in Nigeria boasted of leaving behind a paltry $19b for a $500b economy at the time, that amount is not even enough to pay for imports let alone absorb global economic shocks, so Nigeria can be rightly described in late 2014 as an oil dependent economy with no savings. How important is this savings? Lets take our research to the Second largest producer of crude oil Angola, just like Nigeria with no significant savings, Angola's challenges needs no introduction, let facts speak for itself Angola suffered severe Forex & currency challenges just like Nigeria. According to Bloomberg They not only devalued their currency, they equally allowed it to float like Nigeria's Angola devalued its currency as the OPEC member sought to revive an economy still reeling from the oil-price crash four years ago. The kwanza fell 11 percent to 187.95 per dollar by 3:35 p.m. in Luanda and depreciated 10 percent to 221.75 against the euro. The move came a day after the central bank allowed the currency to weaken in its first auction of foreign exchange since announcing it would end a dollar peg that’s been in place since April 2016.....BloombergBorrowing to fund Budget deficits, just like Nigeria, Angola has borrowed to the point of requesting a bail out from the IMF https://www.vanguardngr.com/2018/08/angola-says-to-request-4-5-bn-imf-loan-as-crisis-lingers/ Unemployment Rate in Angola increased to 20 percent in 2017 from 19.90 percent in 2016. https://tradingeconomics.com/angola/unemployment-rate Inflation in Angola was a whooping 23.67 percent in December 2017, data on the national statistics agency's website showed on Wednesday. Price growth on a month-on-month basis rose to 1.47 percent in January from 1.2 percent previously. Poverty in Angola According to Angola's 2001 MPI, more than 77% of the population was multidimensionally poor. ... The latest available World Bank figure for income poverty in Angola, from 2008, shows that 36.6% of the population is income poor. Angola's population is currently estimated at 29.7 million. I can go on and on the list is endless, as a matter of undeniable fact, Angola just like Nigeria are the largest producers in Africa, they practically did not save enough and they were hit hard by crude price shock. to balance the analysis, it will be unfair to discuss those that didn't save without giving kudos to those that saved, like i said previously, Algeria save a whooping $90b when the going was good, as such its economy was immune to crude shock. Russia like we said though had currency challenges during the period under review ostensibly because of western sanctions, Russia had over $400b in reserves by ending of 2014. Saudi Arabia was immune to crude shock not without little currency & subsidy issues ostensibly because of its huge financing of the war in Yemen, they were sitting on a comfortable $732b by the end of 2014. Some even blamed it on Avengers attack of 2016 Niger delta avengers was a non issue, if you noticed, I expunged them from my analysis, here is why; You were in crude shock from late 2014, Avengers struck in 2016, since 2014, your GDP wasn't showing any growth but retrogression or doldrums meaning you were heading towards recession anyways as a result of crude shock. If Avengers did not strike, OPEC would have asked us to cut production to boost prices, read: https://www.bloomberg.com/news/articles/2016-09-28/opec-said-to-agree-on-first-oil-output-cut-in-eight-years So Avengers or any form of production cut at the time was a non issue. Nigerian people, what is your present government doing to stem this tide that has shocked the fabrics of our nation to the Marrow? The vice president being the economic manager of the country Launched the EGRP, with it Nigeria even in recession was able to save $47b in our foreign reserve, at this pace, I have no doubt that this money will hit $100b in the next 4yrs, that is a guarantee that our economy will become immune to global shocks, not just crude shocks. (Algerian model) The moment that money crossed $40b, forex shortages disappeared, importers stopped complaining, debit cards relaxed their limits etc, that was a killer stroke in our economic recovery strategy.inflation has responded to the potency of the EGRP to 11.23% from 18.8%. Nigeria is building a Gas liquefying plant called the NLNG train 7 project, that will in a way increase revenue from Gas against depending on oil alone, there are other ongoing Gas projects like the AKK projects and other Gas for power projects (Russian model) https://www.vanguardngr.com/2018/07/nnpc-signs-agreement-for-seven-critical-gas-projects/ In conclusion, I can state for a fact that the economic challenges of this country has nothing to do with Buhari under the circumstances he met on ground, we have a chance to fix culpability of blames where it rightly belongs on crude shock, or replace this government whose framework seems promising with another leadership of questionable integrity. past government whose inaction landed us in this mess in the first place. A leadership in the past that we tasked to privatize our industries, all failed save for the one that ended up in his pocket, yet he claimed to create Jobs? How many jobs were lost in that privatization scam where 56 government entities perished? Where is our NITEL, ALSCON, Nicon Insurance to mention a few? Leadership that claims to create jobs but his company PRODECO folded up? Leadership that claim to create jobs yet it was Buhari that sacked foreigners littered everywhere in his company, does an ordinary logistics company need that much foreigners? Leadership that is a case study for corruption and money laundering by the US Senate committee on Homeland security, Leadership that preaches restructuring but but enjoys monopoly in Niger delta sea ports? Atiku is a walking scam, may we not walk into the scam called Atiku because of lie peddled and perfected by the same holocausts that landed us in bondage, every scam comes with a loud noise, say No to Atiku......... You have my express authority to circulate at will 1 Like |
| Politics › Re: Forget What Nnamdi Kanu Said, There Is No Sane Igbo Man That Will Not Vote Atiku by jpphilips(m): 7:03am On Oct 22, 2018 |
dokie:You seem to forget the hatred for Buhari in igbo land was because of python dance, same Kanu you think they won't listen to against Atiku? If Atiku used Ekwetemmadu as VP, Nnamdi Kanu won't resurrect. 2 Likes 1 Share |
| Politics › Re: Forget What Nnamdi Kanu Said, There Is No Sane Igbo Man That Will Not Vote Atiku by jpphilips(m): 3:43am On Oct 22, 2018 |
propane:Seems like your cage is new, Atiku can not be trusted, he is hausa-Fulani so IPOB is sitting at home, total election boycott. 2 Likes 1 Share |
| Politics › Re: Nnamdi Kanu Is A Joke by jpphilips(m): 3:40am On Oct 22, 2018 |
Nnamdi kanu is Ekweremmadu's tool just like militants are Jonathan's tools. 4 Likes 1 Share |
| Politics › Re: Atiku US Case-fact Of The Matter,by Eyitemi Taire by jpphilips(m): 3:33am On Oct 22, 2018 |
kayfra:Atiku the criminal is on a lifetime visa ban already so he doesn't qualify for diplomatic visa either. 3 Likes 1 Share |
| Politics › Re: Atiku US Case-fact Of The Matter,by Eyitemi Taire by jpphilips(m): 12:30am On Oct 22, 2018*. Modified: 9:34am On Oct 22, 2018 |
engineerboat:Its "indictment" not "inducement", I know you are an Almajiri that barely knows your left from right, open that link I posted, download the pdf file, flip it to page 173 and you will see everything you need on his money laundering indictment. For his bribery indictment, you need the Jefferson court papers to see it. Google is your friend, don't be lazy, the world does not conduct census for its dumb inhabitats. 4 Likes |
| Politics › Re: Atiku US Case-fact Of The Matter,by Eyitemi Taire by jpphilips(m): 12:14am On Oct 22, 2018 |
kayfra:You got the priviledge of those information because you sounded less senile than other Atikulators on this thread, now that you have shown that all Almajiris are the same, relax, you will understand how the world treat criminals like Atiku regardles of what you think, if you are a criminal, I don't expect you to know how fvcked Atiku is. 3 Likes 1 Share |
| Politics › Re: Atiku US Case-fact Of The Matter,by Eyitemi Taire by jpphilips(m): 12:04am On Oct 22, 2018 |
kayfra:Who told you a diplomatic passport doesn't require a visa to enter the US on official basis? 3 Likes 1 Share |
| Politics › Re: Atiku US Case-fact Of The Matter,by Eyitemi Taire by jpphilips(m): 8:13pm On Oct 21, 2018 |
kayfra:This is not correct, Atiku, Jennifer and Yahaya were not indicted for violating the Foreign Corrupt Practice Act ("FCPA"  they were indicted for bribery according to the Jefferson court papers.Read here; The government has identified Jennifer Douglas Abubakar, Atiku Abubakar, and Suleiman Yahyah as unindicted coconspirators with regard to the conspiracy to violate the FCPA.For Bribery The Indictment further specifies that defendant (jefferson) was responsible for offering and paying bribes to Atiku Abubakar, while Suleiman Yahyah was responsible for paying bribes to lower ranking Nigerian government officials.After Jennifer attended the grand jury session in which the case was approved for trial, she ran away from the US, while Atiku refused to show up for the trial, that's a violation of the US penal code 104 titled disobedience to a subpoena. But thats for Jefferson trial alone. In 2010, Atiku and other African leaders was again indicted for money laundering by the United sates senate committee on home land security, he was accused of bringing over $40m illicit funds into the US. You can read his indictment papers here, start from pg 173. After downloading the pdf document. https://allafrica.com/view/resource/main/main/id/00020343.html https://www.pmnewsnigeria.com/2017/12/03/corruption-us-senate-report-finally-nailed-atiku-abubakar/ 3 Likes 1 Share |
| Politics › Re: Atiku US Case-fact Of The Matter,by Eyitemi Taire by jpphilips(m): 6:59pm On Oct 21, 2018 |
engineerboat:So you actually posted a news source as proof Atiku was not indicted? Even if you are educated by a quarter, you should know there are two sources to prove your case. 1) FBI investigations report 2)court papers from the Jefferson trial. Fortunately, both are online but you are too lazy to dig it out because you think everyone is stupid right? Both papers indicted Atiku, if you care to be informed. 3 Likes 2 Shares |
| Politics › Re: APC/PMB: FG Projects Nationwide. Ongoing PICS. by jpphilips(m): 7:01pm On Oct 19, 2018 |
author=MeanChris post=72187760] 1. The president spent 6 months before appointing his officers, leaving an already battered economy in a free fall mode. He spent six months galavanting around the world and you nd I know that those trips never yielded any benefit, not even 1.An intelligent person would have analyzed how using Ministers would be better than the perm secs buhari used at the onset of his administration, after which you take us round the world to buttress where perm secs failed and Ministers did better, in the usual Nigerian youth lazy syndrome, you just told us using perm secs are bad, then what? Appeal to sensibilities of enlightened minds by discussing issues the way it should, not regurgitating baseless sermons of lazy youths. 2. The sudden pulling of money away from an already battered economy all in the name of TSA left a lot of key sectors without economic power. It threw the banking and the financial sectors into turmoilSo why did the banks remain profitable after TSA implementation? Do you know any Nigerian bank that made less than 15b naira in profit after tax same year TSA was implemented? when was the last time Banks lent those monies to the real sectors of the economy? What is financial turmoil? if you read a factual note, you approach it with facts not hallucinations, what are the turmoil? what was its effects on the economy? when you tell us that, then we go to the books of the banks for proof, I dare you to try!! 4. The tightening of Foreign Exchange Transactions.There was no "tightening" of foreign exchange anytime CBN does not have forex to give anybody, how is it tightening? can you give what you dont have? Today that we have over $47b in reserves, is the CBN tightening anything? use your common sense. 5. Unguarded Utterances During Foreign Trips. The president made several unguarded utterances that gave the impression that Nigeria was headed for the rocks. This made foreign investors hesitant about coming into Nigeria, and encouraged those that were already in Nigeria to speculate and pull out funds.You just have run out of ideas, go and tell them you have $100b in reserve then you will know they already know your account balance, Do you know foreign reserves of most African countries including Nigeria's are domiciled abroad? how can you say what they already know?shallow opinion. 6. Buhari's Northern Developmental Focus in Nigeria.Please show us where buhari devoted Billions of dollars for oil search in the lake Chad? 7. Preference for Violence over Dialogue. Buhari prefered to use military force to quell civil strife. This approach ignites more protests and civil disobedience. An economy cannot experience progress in violent conditions. Talk of the Operation crocodile smile, Operation Python dance and the rest of themCrap!! relate it to the economy. 8. Increasing the cost of Governance. Here only proves that this administration is directionless. You increased the nation's budget by almost 3 trillion. I wouldn't want to start mentioning capital budget or expenditure or whatever because that is not my field but I'm pretty sure that actions like raising the Aso rock medical bills to #1billion, sharing $300million Abacha loot to the non-existent poor people (I have not seen a single person that received that money in my entire sphere og life and I'm pretty sure I have very poor in my family) , taking away $1billion for fighting 'technically defeated' Boko Haram will have it's toll on the already battered economy.Why did the US nearly double its budget when they were in recession in 2008? some of you dont know anything about governance, when your economy is heading towards recession, you must increase spending to inflate it back because recession shrinks your GDP, have you heard about Obama's stimulus package? what do you think it means? damn!! the amount of block heads in this country, jeez!! You shout your president is doing the wrong thing when you dont even know the right thing to do? 3 Likes 1 Share |
| Politics › Re: APC/PMB: FG Projects Nationwide. Ongoing PICS. by jpphilips(m): 6:06pm On Oct 19, 2018 |
seunmsg:There is a thread on it already. 2 Likes |
| Politics › Re: Atiku US Case-fact Of The Matter,by Eyitemi Taire by jpphilips(m): 6:03pm On Oct 19, 2018 |
engineerboat:People with common sense dont sit behind keyboards arguing about who was indicted and who wasn't, all you need do is convince Atiku to go to the US then all doubts including yours will be cleared. 3 Likes 1 Share |
| Investment › Re: Mutual Funds by jpphilips(m): 5:20pm On Oct 19, 2018 |
Etimocracy:One thing you must know is that these guys dont really compete, they operate like a cartel, one gains this month, the other next and so on, on an annual average, they are just the same, dont waste your time. 1 Like |
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