₦airaland Forum

I keep believing that Knowledge is power, and that we all went to school to overcome our ignorance on the workings of certain things.
With the failure of banks to pump in money to the ATM’s there’s been lots of folks attributing the bank industry to the MMM ponzi scheme, and its heartbreaking that our folks from the Business Faculty of our Universities are not helping us with Information to overcome this ignorance.
1. A bank is registered, has an office and a body of managers who can be sued. mbok show me an office of 1 ponzi scheme.
2. Should anything happen to your money, you can sue the bank and get both your money and interest… MMM has a caveat play with money you can spare to lose.
3.You don’t need to put money in the bank to make it work, the government (CBN) sends money to them monthly… yes, or where you expecting your salary to be paid into ur Btc wallet ?
5. While a bank does not need an existence of a ponzi scheme to operate, Ponzi schemes can never operate without banking institutions to pay money into.
6 While Mavrodi might wake up on the bad side of his bed and decide to do sub-zero stunts on your money, and you can’t do Nada.
Banks need very serious allegation of crime, and a court other to try that on your account, and you can lawfully challenge that in court, and sue for damages where the belief wasn’t honest.
7. Bank funds can be transferred from persons to persons, even with the use of Nokia Torchlight.. “chikodi I will transfer you 1000 mavroes to your account, for you to send me that package” nwanu try it na, shebi its the same !!
8.While You can Sell off banks shares, properties, and bonds to pay off its debts, mbok what do Ponzi schemes sell off to offset its Dept’s ? The phone you use in accessing your wallet bah ?
9. From time to time, the government do pump in money to help ailing banks, when there is need in the system. Mbok the money dey dem go pay me, by Jan 14 who go pump am come ? Is it still me ?
10. Add your own

http://letdemknow.com.ng/2016/12/24/atm-queues-are-banks-like-mmm/

HOW WILL THE NIGER DELTA REPUBLIC BE GOVERNED

while we have the Akpabio's and the Donald Duke, and the Ameachi...
they all are a far cry when you mention the other team consisting of Alamisighe, James Ibori, looter Governors, Wine ... with Tompolo, Asari dokubov etc constituting their cabinets and running the town..

DO YOU THINK ND HAS THE TECNOCRATS TO MOVE THE SYSTEM

neolboy:
Nonsense, too many committee

shame

Rivers of blood is all what Rivers state has be attributed to for the past 1/2 yrs, pre-election, election, n post elections violence has claims hundreds of citizens lives, and now that at least someone/some people are to be investigated so as to bring the perpetrators of the heinious act to book..

you cry foul play.. Nigeria Must work, weda u corruption filled, morality depraved folks like it or not

Mayydayy:
At least.Jonathan was bringing them to book

Mention 5 high profile person that were brought to book and get 50k recharge card, 10k for each

You will know them by their comment.
" too many people"
"too many committee" etc..

yes if u dnt know, the committee has to be much so that the when some people try to bribe them, they won't be able to bribe all, and when they try to kill, they won't be able to kill all.

woaww merry Xmas to our defenders, God bless u all

funny

eyeview:
It seems the pdp states are the only states one gets some glimmer of hope and semblance of development in this God forsaken apc administration

one thing with the South is that they glory in ignorance, I am most times ashamed to be 1.

Ikpa have u ever left ur state for once ? this is a single carriage way someone can jump from one end to another.

go to Lagos and see the quality of the roads there you virtually need to use 30mins in crossing them. I know there was an installation of what looked like a train in Aba, go to Lag and See the real kind of trains you see only in movies.

Y'all out of hate and bitterness can go on celebrating Mediocrity, states that are performing even more than the fed govt, are not even coughing, but states commissioning 1mini GP tank bord holes, and one carriage way roads be making noise...

#Ndisemeh Adiok eti eti

kudoz to the governor, but could this road not be expanded some bit ? to ensure wider movement ? Ikpazu is working shaa..wen compared to others before him.

Yes oo, our developing brodas hv finished developing oda peoples lands, now dey want to develop the stomach.

how people hv the mind to sell counterfeit drugs n plastic rice still shocks me... what is really this money ? what

The only way Buhari to show he stands by the corruption war, is to either find some time ways to bring in sum1 sterner than magu, to work closely with magu, Or to keep magu in action capacity anything other than that, I will give up on PMB.
as war on corruption is all I cling with him for.

g

TITOBIGZ:
Now I believe the story,this shows it was true.

r u cursed or wot ? here is pictures to debunk the news and u go wit no evidence whatsoever you are saying it is untrue ?



hate will kill some people

lalasticlala. and other mods moved this to the front page let Nigerians read the position of the law as regards the rejection of Ibrahim Magu by the senate. as others with different legal views can do their own input as to whether they support or not.

Nairaland was, is, and should always be a learning environment.

Legal Implications Of The Senate’s Rejection Of Magu’s Nomination
By Inibehe Effiong
On Thursday December 15, 2016 the Senate of the Federal Republic of Nigeria held an executive session during which it rejected the nomination of Mr. Ibrahim Magu as the Chairman of the Economic and Financial Crimes Commission (EFCC) by President Muhammadu Buhari based on an adverse ‘’security report’’ authored by the State Security Service (SSS).
Unsurprisingly, the decision of the Senate has triggered controversy on whether Mr. Magu can validly continue in his capacity as the Acting Chairman of the EFCC in the light of the disapproving decision of the Senate. This intervention seeks to offer clarification on the issue based on the enabling and relevant legal authorities.
On the mode of appointing the Chairman of the Commission, the relevant statutory provision is Section 2(3) of the Economic and Financial Crimes Commission (Establishment) Act Cap. E17 LFN , 2004. It provides thus:
‘’The Chairman and members of the Commission other than ex-officio members shall be appointed by the President and the appointment shall be subject to the confirmation of the Senate.’’
The above provision subjects the appointment of the Chairman of the Commission by the President to the concurrence and confirmation of the Senate. We submit that the EFCC (Establishment) Act does not expressly provide for the position of an Acting Chairman of the Commission, it only provides for a substantive Chairman.
Flowing from the above, two issues necessarily arise for determination:
1. Where does the President derive the power to appoint an Acting Chairman of the Commission?; and
2. Can Magu continue to act as the Acting Chairman of the Commission despite the rejection of his nomination, having regards to Section 2(3) of the EFCC (Establishment) Act quoted above?
In resolving the twin issues formulated supra (above), the provisions of Section 11 of the Interpretation Act Cap. 123, Vol. 8, LFN, 2004 are apposite. For clarity and ease of reference, the said provisions are wholly reproduced infra (below):
11. Appointment
(1) Where an enactment confers a power to appoint a person either to an office or to exercise any functions, whether for a specified period or not, the power includes−
(a) power to appoint a person by name or to appoint the holder from time to time of a particular office;
(b) power to remove or suspend him;
(c) power, exercisable in the manner and subject to the limitations and conditions (if any) applicable to the power to appoint−
(i) to reappoint or reinstate him;
(ii) to appoint a person to act in his place, either generally or in regard to specified functions, during such time as is considered expedient by the authority in whom the power of appointment in question is vested.
(2) A reference in an enactment to the holder of an office shall be construed as including a reference to a person for the time being appointed to act in his place, either as respects the functions of the office generally or the functions in regard to which he is appointed, as the case may be.
Before proceeding to examine the ramifications and effect of the elaborate provisions above, it should be borne in mind that the Interpretation Act is a special piece of legislation that gives direction on the meaning of words, expressions and interpretation of the provisions of all other laws enacted by the legislature. Where there is an interpretative lacuna or controversy in a statute regarding the meaning and application of certain words, expressions and or provisions, the Interpretation Act is usually resorted to by the courts for succor.
It is our firm contention that the President has the requisite vires (powers) to appoint an Acting Chairman of the EFCC. We reference Section 11(1)(c)(ii) of the Interpretation Act in support. The said provision has clothed the President with the authority to appoint another person to act in the place of a substantive Chairman of the EFCC. Unlike the appointment of a substantive Chairman which requires the confirmation of the Senate, the President does not need the confirmation of the Senate to appoint an Acting Chairman of the Commission.
On the second issue, we submit that the decision of the Senate to reject the nomination of Magu for the position of substantive Chairman of the EFCC has no upsetting consequence in law on his earlier appointment as the Acting Chairman of the EFCC by President Buhari on November 9, 2015.
The Interpretation Act does not specify the term of office or period for which the acting chairmanship is to subsist. Section 11(1)(c)(ii) of the Interpretation Act seems to give the appointing authority the discretion to determine how long the acting or temporary appointee is to serve. This reasoning appears inevitable given the use of the expression ‘’during such time as is considered expedient by the authority in whom the power of appointment in question is vested’’ in the cited provision.
It is an elementary principle of statutory interpretation that where the words and expressions used in a statute are clear and unambiguous, they must be given their natural and ordinary meanings unless to do so would lead to absurdity or insistency with the rest of the statute. See the recent decision of the Supreme Court in Okoye v. C.O.P. (2015) 17 NWLR (Pt. 1488) 276 at 320. The expression ‘’during such time as is considered expedient by the authority in whom the power of appointment in question is vested’’ is clear and unambiguous.
In the instant case, the President is the appointing authority under Section 2(3) of the EFCC (Establishment) Act. He is the person vested with power under Section 11 of the Interpretation Act to appoint an Acting Chairman in lieu (in the absence of) of a substantive chairman. Accordingly, Mr. Magu will continue to act as the chairman of the EFCC if his retention is considered expedient by President Buhari. It does not lie in the mouth of the Senate to say what is expedient in the circumstance. The parameters for determining the expediency of Magu’s continued acting leadership of the EFCC belongs to President Buhari.
However, we submit that there are two identifiable limitations or exceptions to the power of the appointing authority under Section 11 of the Interpretation Act to determine the duration or tenure of a person appointed in an acting capacity based on what is considered expedient by the appointing authority. These exceptions will be shown using the present case of Ibrahim Magu.
First, we submit that Magu cannot legally serve in an acting capacity BEYOND the term permissible for a substantive chairman of the Commission. Section 3(1) of the EFCC (Establishment) Act states that ‘’the Chairman and members of the Commission other than ex-officio members shall hold office for a period of four years and may be re-appointed for a further term of four years and no more.’’ It would be absurd for anyone to suggest that a person who is appointed in an acting capacity can serve in that capacity beyond the statutorily allowable tenure for the substantive appointee. The President’s power to appoint an Acting Chairman of the EFCC under Section 11 of the Interpretation Act is derivable from and only incidental to his power to appoint a substantive Chairman under Section 2(3) of the EFCC (Establishment) Act. Therefore, Magu cannot continue in his acting capacity beyond the four years term (in the first instance) allowed for a substantive Chairman.
Second, it is our humble view that Magu’s tenure as the Acting Chairman of the Commission MUST BE LESS THAN the four years period stipulated for a substantive Chairman. The gravamen of this contention is that the words ‘act’ and ‘acting’ when used in relation to a position, by their ordinary grammatical and juristic meaning presupposes a state or status of temporariness as opposed to permanency. Few dictionary definitions will suffice. The Interpretation Act does not define ‘act’ or ‘acting’. The Oxford Advanced Learners Dictionary, 6th edition, page 11 defines ‘acting’ as ‘’Doing the work of another person for a short time…’’. Law Guide, ( www.thelaw.com ) an online legal source, defines ‘acting’ as ‘’Temporary performance. Frequently referring to a temporary position performing and carrying out the duties of an office without actually holding the position.’’ Lastly, the Merriam-Webster Dictionary, online version, variously defines ‘acting’ as ‘’performing a job for a short time’’ and ‘’holding a temporary rank or position’’.
Does the law give recognition and effect to dictionary definition of words in the interpretation of statutes? The answer is in the affirmative. Reference is made to a recent decision of the Court of Appeal in Alechenu v. University of Jos (2015) 1 NWLR (Pt. 1440) 333 at 361, paras. C-D, where the appellate court, per BDLIYA, J.C.A., held inter alia: ‘’Where words used in a Statute are not defined therein, a resort to the dictionary meaning of such words is permissible…’’
The totality of the above exposition is that a person who is appointed into a position in an acting capacity cannot exhaust or complete the full term of that office or position. A person can either be appointed in an acting capacity to complete the remainder term of the substantive appointee whose office has become vacant either by reason of death, resignation, removal or for other cause OR to occupy the position temporarily pending when a substantive appointment is made. Anything other than this is legally indefensible.
The legal implications of the two exceptions espoused above are that Mr. Magu can continue in his position as the Acting Chairman of the EFCC at the pleasure of President Buhari. However, the President in deciding the expediency for the continued retention of Mr. Magu in an acting capacity must ensure that Magu’s acting tenure does not exceed, but is actually less than the four years period stipulated in Section 3(1) of the EFCC (Establishment) Act.
As a postscript, the President is at liberty to re-submit Magu’s name to the Senate for re-consideration and possible confirmation. The Senate’s decision whether to accept or reject the nomination is absolute, provided same is done in conformity with the constitutional requirement for quorum and the Standing Orders of the Senate.
The fight against corruption in Nigeria is being trivialized. President Buhari should bear in mind that if he fails in his anti-corruption campaign, he has failed in everything. It is indeed a tragic irony that the very infamous Senator Bukola Saraki-led Senate, with all its scandals and embarrassing pedigree, is lecturing President Buhari on corruption.
The fact that the alleged indicting security report which formed the fulcrum upon which the Senate acted in rejecting Magu’s nomination was authored by the SSS, an agency under the presidency, loudly evinces the apparent lack of coordination and effective leadership in the country. It is either President Buhari is not in charge of his government or he is trying to use corruption to fight corruption.
The troubling message from this unsettling scenario is that Nigeria is far from being salvaged. We can only hope that the evil forces in the corridors of power will not completely pollute and destroy our nation.
Thank you.
Inibehe Effiong is a Lagos based Legal Practitioner and Convener of the Coalition of Human Rights Defenders (COHRD) and can be reached at: inibehe.effiong@gmail.com

alcmene:
Activist lawyer, Ebun-Olu Adegboruwa, has faulted the argument that the Acting Chairman of the Economic and Financial Crimes Commission, EFCC, Mr. Ibrahim Magu can continue in acting capacity despite being rejected by the Senate as substantive chairman of the anti-graft agency, stating that the anti-graft agency is too sensitive to be headed by a rejected candidate.

Speaking in a statement forwarded to DAILY POST on Friday, the Lagos lawyer reasoned that the December 14 rejection of Magu by the Senate means that the operations of the EFCC after the Upper Chamber’s decision will be deemed as illegal.

He warned that if the acting EFCC chairman continues in office as acting chairman after Thursday’s development, it would give the impression that Magu has been appointed to do a hatchet job, stressing that his continued stay in office after the rejection would make the EFCC unable to institute court cases or arrest any citizen.

The issues raised in the report of the DSS in relation to Magu cannot be overlooked, as in similar or less weighty circumstances, the EFCC, under Magu, has preferred criminal charges against such suspects, followed with media blitz. After all, the reason that the Hon Just Ofili Ajumogobia is in court facing trial is for her inability to account for her lavish possessions. If an ex policeman is living in a luxurious N40m apartment and cruising in private jets, he should be put on trial in the dock, as he has done to others.

We cannot have such weighty allegations of corrupt enrichment hanging over a man who is to investigate and prosecute others.
Prior to Mr Magu’s appointment, a serious allegation of corruption was made against his predecessor in office, but we have never heard of any effort made by the EFCC since Magu took over, on that case.

Read more http://dailypost.ng/2016/12/16/efcc-cant-arrest-nigerians-file-court-cases-magu-remains-office-adegboruwa/?utm_source=snap_dp1&utm_medium=twitter

All this writing with no position of the law as backing and all you corrupt folks are mastubating on it ?


#Ndisemeh adiok eti eti

bolafez:
wait on God

lols

bolafez:
wait on God

lols

g

Beehshorp:
What is Magu?

Biography of Ibrahim Mustafa Magu, Acting Chairman EFCC.
Ibrahim Mustafa Magu, the new acting Chairman of Economic and financial Crimes Commission(EFCC) a is a Kanuri from Borno state.

Ibrahim Magu attended the University of Maiduguri where he obtained a degree in Accountancy. Hence he is now a certified accountant, a trained financial crimes investigator with background in forensic accounting, and he also trained at the FBI institute and the London Metropolitan Police institute.


Ibrahim Magu served as head of the EFCC’s Economic Governance Unit (EGU) during the tenure of Nuhu Ribadu. He thereafter gained public attention when he led many high profile investigations against former governors including James Ibori of Delta State and the current Senate President Bukola Saraki of Kwara State.
He also reportedly worked with Ribadu to jail his brother-in-law and former Bank of the North chief, Shettima Bulama. Bulama was later pardoned by former President Goodluck Jonathan.


Ibrahim Magu is a member of the investigative committee convened by National Security Adviser (NSA), Babagana Monguno on the orders of President Muhammadu Buhari to probe the procurement of arms in the Armed Forces from 2007 till now.


Ibrahim Magu has been described by Police sources as “ a fearless investigator who can stand up to any duty,”.
Mr. Magu, an Assistant Commissioner of Police, is a member of the Presidential Advisory Committee on Anti-Corruption and was a former Head of the Economic Governance Unit (EGU) of the anti-graft agency.


Mr. Magu was one of the early recruits into the EFCC by the pioneer chairman of the commission, Nuhu Ribadu. He is seen by peers as an incorruptible and courageous officer and then made the head of the sensitive EGU, a unit in charge of investigations of senior public officials.
As head of the EGU, some of the investigations Mr. Magu spearheaded include the role of former Kwara State Governor and serving senator, Bukola Saraki, in the collapse of Societe Generale Bank of Nigeria, and James Ibori, former Governor of Delta State, who was convicted for money laundering in the United Kingdom.
But trouble started for the police officer after the controversial removal of Mr. Ribadu as chairman of the commission in December 2007.

In August 2008, Mr. Magu was accused of illegally keeping case files of top politicians being investigated by the commission. His house in Abuja was searched and his property carted away by operatives of the EFCC.

He was subsequently re-deployed to the police after days of detention with nothing incriminating found against him. He was later suspended from the police, going without salaries for several months.
Following his appointment as Chairman of the EFCC in 2011, Mr. Lamorde made the return of Mr. Magu to the EFCC a top priority. Both men had worked together at the commission when Mr. Lamorde served as head of operations of the agency.

In a letter written to the Inspector General of Police (IGP) on March 19, 2012, and titled “Re: Postings/Transfer and secondments of police officers to the EFCC,” Mr. Lamorde put Mr. Magu as top on the list of police officers he wanted to be deployed to the EFCC.


But when the police boss was to confirm the deployment of the officers, Mr. Magu’s name was conspicuously absent.
Mr. Lamorde eventually had his way after President Goodluck Jonathan reportedly intervened in Mr. Magu’s case.
Following the President’s intervention, Mr. Magu was released to the EFCC. He remained a top official of the commission until he was appointed to succeed Mr. Lamorde.


He is to take over from Ibrahim Lamorde who Femi Adesina, the presidential spokesman said “ was not sacked but was only proceeding on terminal leave ahead of the expiration of his tenure in February 2016.


The acting Chairman of the commission took over officially on November 11, 2015 and during the handing over ceremony at the commission’s office in Abuja, Magu called on all staff of EFCC to get positioned for a greater fight against corruption in Nigeria.

The new acting chairman said with corruption, there would never be a meaningful development in Nigeria.
He said he has come to the commission to “ginger up the anti-corruption campaign“.
“There is the need to make sure that whatever is gotten for common use did not end up in private pockets ,” Magu said.


He further called all staff of the commission to personally channel their grievance to him as he will be solely responsive to the welfare of EFCC’S staff.
“I am ready and willing to work with everybody without any primordial concerns ,” the new acting chairman said.I

during his inaugural speech last year Magu Said.. that he has come to the commission to “ginger up the anti-corruption campaign“.
“There is the need to make sure that whatever is gotten for common use did not end up in private pockets ,” Magu said.


folks whom we know support corruption all their lives would celebrate his not being confirmed...but we all know that Saraki is doing this because Magu investigated him and implicated him in the fall of societe bank.

within his one year of Acting CapCity, Magu has prosecuted more people than the 16yrs of GEJ, YarAdua and OBJ combined.

Magu is one of the clean people out there who can confidently go after these corrupt legislooters knowing they have nothing on him.

Within a year, Magu has roped in Dasuki, Dokpesi,Methuh, Yerima, and a good number of people who have all confessed taking public money, and promised to return same.

to all the anti-corruption Nigerians out there who still believe that Nigeria can be free of corruption, Magu is one card we must all play now.. Let's show that he has our backing against the war on corruption.... #WestandByMagu #IbeliveInMagu. #weshallWintheWarOnCorruption

has anyone Imagined how Niger Delta Republic would have been like ?
There are would be a Uni Party System made up of PDP and any opposition arising would be squash like bugs...

Waite o...what is wrong with the south mbok, this recruitment process that has been hugely applauded Across borders, as being transparent has been rejected by Bayelsa state...

are you asking me why ? is it not the state that was celebrating Alamieyeseigha even after all he did ? Is it not the state that had "Chai dis blood you are sharing" as the permanent secretary of ministry of Education ?

Transparency hurts these people, when you do it by the hook and not crook, you are bias towards them.. Ndisemmeh Ibon.

gh

oyetunji12:
i never wanted to login but your stupid coment made me to, if musa is ur bro wil u say this rubish? morova wo told you that election dre ws free and fair too or as anything gud cums out of APC

I hate Tribalism and I hate Tribalist, which means I hate you, so because it is my brother that is so stupid I need to celebrate his stupidity and not clap back at him to do better ? You get sense o..

During last yrs election Nobody died in any part of the country except the south south, are we cursed?? are you cursed ? instead of rebuking this senseless act you keep celebrating them claiming em as brothers... Tuaa fii doo..
my parents told me dat anytime I turned a thief I should consider myself disowned....
since these fools have reduced themselves to just tools in politicians hands U want me to still cele thebrate them ? mbok nwuuh ke iso..kuba tang ndisemeh mi.

Realist2:
The desperation of APC and buhari to remain in power is too dangerous for silent, knowing that they have been rejected on popularity.
Buhari is a plague that will destroy Nigeria, unless God intervene.

vgg

hh

etoroh:
amneke asime ata etieti. Unam ikot. Were you blind to see when it was everywhere that the APC had deployed federal might on Rivers state? Is SARS a federal unit or not? Were you deaf to hear when Oyegun asked their members to kill if it got to that level? Have we seen this amount of desperation before? Even GEJ himself said his ambition isnt worth bloodletting, Oyegun and Amaechi are saying shed blood due to federal might. Unleash federal might on economy, you people cant. Fight corruption, no. They are using 275m to cut grass in IDPs. 2.5bn NorthEast development money is unaccountable for, yet you are not ashamed of opening your filthy mouth to talk about a dead man just because of foolish partisanship, if only they were even working for Nigeria's good. Akpon asehe. Ebod

Ikpa I can't degrade to ur level, if you can so stupid to attribute death in Rivers Election to PMB, it says a lot about ur Iq... during GEJ tenure how many people died in Rivers state election ?
shebi Edo and Ondo are not states

the Idiosyncrasies exhibited by we South Southerner is appealing... Ikpa use wood mfo here mkpor, iniegher she Isong Inam do... kuba enter ndisime Inam ikod.