₦airaland Forum

There is no point in any of the individuals listed below having billions of dollars in foreign banks while there country’s is in dire need of infrastructure development. What stops IBB from building a fast train from Minna to Abuja using a dummy company as a front, all proceeds goes into his pockets, what is the point in him dyeing at the money getting lost in those dinghy vaults in Switzerland or Liechtenstein. Surely Mobuto’s lesson is there for all to learn from; his billions cannot be found nor traced anymore. Each of these individuals should pick a project and get the country moving, Nigerians are already accustomed to the fact that they are billionaires, it is no news to anybody, fear should be the last thing on their minds they should just get on with it.


Lets call a spade a spade Dangote and Otedola are only the 12th and 13th richest Nigeria not to talk of Africa or the whole world. This the list of the real Billionaires in Nigeria.

1. OBJ
2. Yardua
3. Abdusalam
4. IBB
5. Abacha
6. Peter Odili
7. James Ibori
8. Tinubu
9. Andy Uba
10. Bukola Saraki
11. Ogbemedia
12. Dangote
13. Otedola
14. Mike Adenuga

Edger Hoover’s FBI v Nuru Ribadu’s EFCC – The death of the Corruption crusade in Nigeria

J.Edgar Hoover

John Edgar Hoover (January 1, 1895 – May 2, 1972), generally known as J. Edgar Hoover, was the first Director of the Federal Bureau of Investigation (FBI) of the United States. Appointed director of the Bureau of Investigation—predecessor to the FBI—in 1924, he was instrumental in founding the FBI in 1935, where he remained director until his death in 1972. Hoover is credited with building the FBI into a large and efficient crime-fighting agency, and with instituting a number of modern innovations to police technology, such as a centralized fingerprint file and forensic laboratories.
Hoover was highly regarded by much of the U.S. public, but posthumously he became an increasingly controversial figure. His many critics asserted that he exceeded the jurisdiction of the FBI.[1] He used the FBI to harass political dissenters and activists, to amass secret files on political leaders,[2] and to use illegal methods to collect evidence.[3] It is because of Hoover's long and controversial reign that FBI directors are now limited to 10-year terms


Nigeria's Nuru Ribadu

Nuru Ribadu could have broken the corruption circle that has become the bane of our society today, corruption cases in all sector of the economy could have been brought from all high 98% corruption level in all sectors to a manageable 15% to 20% . If only he was allowed to get on with his job and make Nigeria a better place. At times it is better you just leave the guy to get on with the job he knows, he will not only learn from his mistakes he will be strengthen by his own failures and short-comings. Just like J Edger Hoover he will fine tune EFCC into Nigeria’s FBI it will not be an easy task but is doable if only he was giving time. Just the mention of Nuru Ribadu’s name at height of his reign in the EFCC was enough to put the fear of God on some of our corrupt public officers. Today the EFCC name does not create the same hysteria that it once did , it has been tainted with same brush as Nigeria Police Force if not a worse brush. Today a state Governor can send his lackey’s on a fun day out by sending his driver and orderly on a Sunday rendezvous every month from Akwa to lagos to change N255 million to dollar or pound. If it were the good old days not only the police officer’s in lagos will be apprehended, the orderly , the driver, and his majesty the Governor will all give account of what transpired.


I once remember my first job in England as security personnel in a top law firm in central London. One Sunday morning I was sitting in the front office reading newspaper as there was nothing much to do on Sundays. A gentleman came into the lobby and I queried him asking him who he was, does he have any form of ID, he was very impressed at the way I queried him. On seeing his ID he was one of the partners that own the law firm. Having discovered who he was I was consumed with trepidation and fear thinking I have corked up and will surely be fired. But to my utmost surprise I was not only giving a raise on my hourly rate I was also recommended as a supervisor which at the time was fantastic. The problem with Yaradua, is because his name was amongst the 31 Governor that was pencilled down for investigation as been corrupt, he Yaradua became insecure in himself as he felt that Nuru knows too much of his internal dealings and should therefore be gotten rid off sooner rather later. If it happened in other climes, the Chief executive will not only reward him handsomely but will retain him as corruption czar for as long possible. OBJ basically turned a blind eye on Ribadu’s activities he allowed the young man to get on with his job. Although OBJ used Ribadu for other extra ordinary renditions which can be classified as collateral damages in a war of different ideals, opinions and thoughts there is nothing stopping Yaradua from doing the same.


The Irony of Yardua’s action is Ribadu’s capability of intelligence gathering combined with yaradua’s thoughtful approach to issues of importance would have been an intelligence marriage made in heaven, a quality the country needs while the proxy war in the delta rages on. This marriage has been broken by the insecurity of the president, Nigeria has lost out on the early momentum gained in her fight against corruption.
Nigeria as a nation should have allowed him to continue his crusade on corruption just like J. Edger Hoover. He was the pioneer boss of EFCC just like J. Edgar Hoover was the pioneer boss of the FBI. History as shown that Pioneer Bosses always stir the ship to unprecedented height and success the evidence is there for all to see with the current state of the FBI.

I just hope this ship can stirred back on course before we hit an ice-berge but I have this very strong feeling that we have already hit one. I might however be wrong but time will tell.

Ribadu has one the 1st round of his suite against the Nigerian police, we wish him success as the case progresses.

How do you "waist time"? It sound interesting.

Thanks mate, pointing that out.

Extract from the Tribune.

THE Nigeria Union of Local Government Employees (NULGE), on Thursday, accused state governors of hijacking the funds meant for development at the local government level in the country.


This is just as it called on the National Assembly to expedite the process of constitutional review with a view to granting the 774 local governments in the country autonomy.


National President of NULGE, Prince Kingsley Ogba, briefing newsmen ahead of a two-day National Stakeholders Summit on Local Government, attributed the slow pace or lack of development at the local government level to inadequate funds made available to them by the state governments.


The union also expressed worry over the inconsistency in the local government administration and urged the National Assembly to harmonise the laws governing the system, saying “we cannot be in the same country and operate under 36 laws governing the system.”


Ogba said the major bane of development at the rural level was the undue interference by the state governors in the affairs of the local governments.


He called for the amendment of the constitution, so that the local councils would begin to get their allocation direct from the Federation Account, saying, “With due respect to the state governments that have not been tampering with their local governments’ funds, joint account over the years has proved to be nothing but conduit pipes for siphoning funds accruing to local governments in the Federation Account.


“The joint account was meant to be a pool for distribution of allocations but you find out that if a local government is given, say, under the economic downturn, N80 million or N70 million, at the end of the day, what will reach the local government may be N30 million and people will be blaming those at the local government for lack of performance.


“The public will complain that this chairman is not doing anything, but they don’t know that if he complains over the money given to him, then, he is in trouble. He will not get his second term ticket and they will begin to sponsor his impeachment. That is the problem we are having. It’s not that the Federal Government is not doing well, it is sending money but the governors are hijacking the funds.”

Which Abacha are u referring to here?

Only 1/10th of the money abacha stole was remmited back to Nigeria that is $500 million I reckon he would have enmassed over $5 billion dollars

@poster
Who the hell are you?


I am Nigeria's Obama, I will resign the post of the presidency if all graduates that are eligible to work cannot find work within 6 months of my presidency. We dont need a few billionares controlling everything in Nigeria when we can have a lot of thousandnaires building the nation.

dream on. . . . instead of making states pay tax to Government, you still favour the centralised 'Aso Rock Welfare system' where Govt collects all monies and dishes out to States. . . . what incentivizes the States to be productive?. . . . this is utter crap. . . .



There is nothing wrong with a centralised system as long as the money is for the benefit of all and not a few. Britain has a cetralised system,  I mentioned giving 20% of oil revenue to oil producing state that is more than what they get at the moment. You cant beleive how good the British system is, A friend of mine was on £1000. 00 a month, the wife is not working and they had a little baby. They now applied for Tax credit, the goverment awarded an extra £600.00 a month I said wow that is fantastic. In Britain there is a thresh-hold with regards to poverty level, if you earn below that thresh-hold the goverment will top up your money. Why should one person be worth 1 trillion Naira in Niaja and most graduate cannot even find N20,00.00 jobs that is criminal, the wealth of a nation in one man's pocket.  During the Udoji award of 1974 nobody gives a hoot whether the minister of finance is a yoruba man, Igbo or Hausa or any other tribe for that matter,  the bottom line is everybody's pay packet grew by 50% and that is what matters in any democracy. Put the money in every man, woman or child's pocket.

We need to find our Barack Obama b4 it gets too late, I with like minded individuals will float a new party called the The peoples party - TPP

Manifesto

1. Gurantee 100% employment for everybody from School cert upwards - Nigerian is a growing country, there is a lot of work to be done.

2. Re-orgnise the country in such away there will be more jobs than people, I will not be suprise if  millions of our neigbours from Ghana, Rep Benin, Togo, Cameroon start pouring into the country taking the excess job that will be created.

3.Establish a new town in all 774 LG. The towns will be built my the local people. the whole essence is the total transfomation of the whole country.

4. Downside of me running the country -  I will not leave office a rich man neither would anybody who wants to work for me. The money belongs to the people and every damn kobo will be given back to them.

5. If Hitler can transform Germany from a defeated nation with very low moral in the 1920's to an economic super power by mid 1930's I see no reason why I will not succed in my quest to change my country.


6. Obama's catch-phrase is " yes we can" ours will be " Change IS Possible " . It will be physical, moral, spiritual, and scientific change for all.

7. Another downside to my manifesto will be all political office holders from 1999 will be im-prisoned our slogan will be " you are guilty until proven innocent" the reason behind this is your salary will be reconciled against your wealth if you cannot justify how you came by such wealth you have had it. All exces wealth will be confisticated and giving back to the Nigerian state.

8. So ladies and Gentle-man look out for our launching soon. Peace be to you all

8. 6 Huge prisons will be built to take care of all political prisoners the prisons will be built in the 6 geographical regions of the nation.

9. Oil producing state will get 20% of all revenue realised from oil.

10. There will be no state of origin in any form, it will be disbanded. An Igbo man will be allowed to run in oyo state or ogun state provided he /she can prove he has lived in that state for the most of his life.  Same goes with a Yoruba man in the north or East.

Quantative Easing I wrote about this a few months ago, this is the extract.

Is a form of printing money, but this time not physical money but electronic money. The USA has been easing its currrency since November 2008, The UK will commence easing hers from next month that was in March 2009 and I can tell you things have really picked-up, there is credit everywhere now I even got a text this morning about a loan approval.

What does it actually means - Major banks in UK and USA have serious cash flow problems because of their exposure to the sub- prime market leading to banks having serious toxic debt in their accounts. The goverments of these countries made a prompt decision to bail out troubled banks that has over - expose themselves hence the easing process.

Easing process -  The bank's main Businesse in the UK and USA are different from say Nigeria, the banks provide funds to small businesses for the economy to be ticking over.  If for what so ever reason  funds are not forthcoming to small businesses there would be a down turn in the company which will invariably lead to laying off and subsequently increase the un-employment figures.  Small busineses employs 75% of the population so it is vital the Banks extends credit to small busineses.

Bailing out - The Goverment increases the money in circulation by credicting the banks that are bailed out. Basically it is not unsual for $75 Billion to be credicted into a bailed out bank's account over night, the effect is like printing physical money the only difference is that this money is used by the bank to generate more businesses thereby stimulating the economy by giving funds to creditors and giving mortgages to those that require it.

Would it work in Nigeria   - Nigeria banks dont borrow to small busineses, that is why we have a very high un-employment rate in Nigeria. However the Goverment can stimulate the economy by giving some of our major banks money from the reserves which stands at $52billion  to lend to un-employed  university graduates that has good business plan at very low rate of intrest. If 60% of such busineses succeed that could easily be interpreted to as high as 40 million new jobs created. But I have my reservations if this will ever be implemented.

   



QE - forget to mention that is an asset based printing of money not printing money for the fun of it. Zimbabwe comes to mind when you think of printing for the fun of it.

The way to make money here is right in the middle of the city centre the equivalent of Ikoyi in lagos or Maitama in Abuja there is a huge slum of more than 500, 000 people the idea is to buy the land from the poor they will now move out of the city centre you will hold the land for the big developers to buy it off your you at some juicy $$$ that way you will make your killing. You dont have to lay a brick on the land bought.

LUANDA (Reuters) - Angola's capital Luanda is the world's most expensive place for foreigners followed by Tokyo, a public relations director for London-based human resources consultant ECA International said on Wednesday.

Josephine Woolley based her comments on a recent ECA survey which compares a basket of 125 consumer goods and services commonly purchased by expatriates in more than 270 locations.

She said long delays at Luanda's port and damaged infrastructure caused by an almost three-decade long war continued to inflate the price of goods and services typically used by foreigners in the oil-and-mineral rich nation.

"Luanda is still suffering from the aftermath of 27 years of war. It remains dangerous, is difficult to move around safely, and it is hard to source goods of a reasonable standard there because of a damaged infrastructure," she told Reuters.

"These factors, along with inflation, have driven up cost of living, making it increasingly expensive for expatriates."

The end of the war in 2002 led to an investment boom by China and some Western nations which has helped turn Angola into one of the world's fastest growing economies. The boom also helped push prices to record highs.

Despite a recent sharp drop in world food prices, a litre of imported milk can cost $3 while the rent of a small two-bedroom apartment can easily fetch $7,000 a month in a city that was built for 500,000 but is home to over five million people.

Analysts expect the cost of living in Luanda to remain high. The economy is forecast to grow 11.8 percent in 2009 and inflation to remain above 10 percent, government estimates show.

"Prices of goods for expatriates should remain high due to strong demand," said Ricardo Gazel, a senior economist at the World Bank in Angola, noting the bottleneck at Luanda's port.

Angola, which rivals Nigeria as sub-Saharan Africa's biggest oil producer, was a major food exporter before a civil war devastated its agricultural sector as well as its roads, bridges and communications.

Woolley said the Japanese capital had risen up the ranks in terms of prices in the past year.

"A strong yen has made Tokyo the second-most expensive city in the world, up from 13th position a year ago," she said.

Zimbabwe's capital Harare used to be considered the world's most expensive city by ECA but the human resources company stopped including Zimbabwe in the ranking because of spiralling inflation there, said Woolley.

https://www.youtube.com/watch?v=YfhcipBnWEc

even when he's dead, people can't leave the man alone.

at least we will be listening to his old music and what we will see is a more darker MJ, That white ghostly thing with a broken nose that he has turned himself into of recent will not be steering at us anymore.

why he was not proud of the beautiful black skin our lord gave him I dont understand. He makes us black to start feeling inferior, how many whites have you seen want to turn black and actually started doing plastic surgery to make it a reality. I must give it to him that his music was good but that is as far as it goes, I think a lot of blacks all over the world will be slightly releived. The guy was an anomaly and an embarassment to blacks.

We are talking about UK not Nigeria okay mister
Don't bring Nigeria into this discussion except you don't have anything to contribute 

I beg stop posting UK issues on this site. This is Nairaland and not Poundland. UK has enough web site for their problems if you want people to contribute then go to UK Web site,  here we concerned on how we can move our country foward, wetin concern person wey they Gboko or Orlu with wether everybody in Britain de smoke Igbo OR CONCAIN. 

Integrated processing plant = lack of accountability and transparency. This project will only benefit the chinese


I personally dont trust the chinese, but it will wrong to taint all chinese with the same brush, posterity will be deciding the factor here.  We wait and see what the future holds for Zamfara. It might even be a ploy by Zamfara state to cliam the 13 % derivative through the back door without really making any money from this venture cooking the books to show profitability. We shall be monitoring the project with an eagle eye.