₦airaland Forum

10 Goal Thriller! Just 2 short of all-time record of 12 set in 1954 when Austria defeated Switzerland by 7 goals to 5.

The 24th country on the list, Suriname is not in Africa.

When it comes to online purchase of data and airtime, I don't think there is anything the wrongful recipient can do to make a refund unlike funds which can be transferred when it is initially sent to a wrong account number.

Hezmatosky210:
Na this kin thing dey sweet pastors it will look as if it's their prayer efforts
But go and meet them for house rent or just small money to support your family or to even eat, they'll post you till thy kingdom comes

You have a sense of entitlement.

An Obidient finally secures an appointment under Tinubu!

The first WC since 1986 that its opening day is not a FFriday. From 1990 to 2022, the opening matches were played on Friday.

Fun thing that could happen at the World Cup:

U.S. could play … Iran?

Should Iran and the U.S. each finish second in their groups, the teams will meet in a tantalizing matchup in Dallas on July 3

...a day before the United States’ 250th independence.

The story of Richard Gonzalez is wild:

"RICHARD GONZALEZ HAD ALWAYS been a kind of wild card in the pharmaceutical industry. For years, as he was climbing up the pharmaceutical industry ranks, he had falsely claimed to have received a bachelor’s degree in biochemistry from the University of Houston and a master’s degree in biochemistry from the University of Miami.

In fact, he had dropped out of the University of Houston in the early 1970s and spent only four months at the University of Miami. He never earned a degree of any kind. By the time this lie was discovered, Gonzalez had become an important and talented executive at Abbott Laboratories with decades of experience in the pharmaceutical industry.

Gonzalez spent much of his career at the Chicago-area company, working his way up commercial, research, and manufacturing operations to the posts of chief operating officer and president.

In 2007, Gonzalez was diagnosed with throat cancer and retired. The idea was to get healthy and play golf. The cancer went away, but Gonzalez was miserable. “My golf game is lousy—it’s not like I want to spend four hours on the golf course,” he would later say.

He returned to Abbott two years later, initially to run the company’s venture portfolio. When he came back, Gonzalez informed the company that his biography contained inaccurate information about obtaining academic degrees, which Abbott corrected in his official biography.

When Crain’s Chicago Business broke the news about Gonzalez’s credentials, Abbott initially said that the degrees were included in securities filings as a result of an internal administrative error.

In 2013, Abbott, which specialized in medical devices and nutrition, split itself up. The company spun out its biggest prescription drugs into a new company called AbbVie, and Gonzalez was tapped to lead it as CEO. He earned over $20 million a year..."

~ Nathan Vardi's "For Blood and Money: Billionaires, Biotech, and the Quest for a Blockbuster Drug"

- - -
This guy built something on nothing and got away with it. Not everyone is so lucky.

Osun State Government has issued a disclaimer regarding this news. The King has not been deposed.

The trouble that every religion encounters is that the answers it provides today are challenged by new human awareness that comes into being tomorrow. Adherents of every religion are in constant struggle to reinterpret their religion to keep it relevant. A religion dies when it can no longer be bent to explain today’s world within the context of its original precepts.

In James 2:1-9, the Bible condemns showing favoritism based on wealth, describing a scenario where a rich person in fine clothing and gold rings is given a seat of honor, while a poor person in shabby clothes is told to stand or sit on the floor. James calls this partiality, or discrimination, a sin.

At the last AFCON, we defeated South Africa via penalty shoot out in the semis.

When it comes to penalties, “God has abandoned both teams. They’re on their own.”

barnny:
Why won't he dose when he already knows his client is going to be jailed for life imprisonment

You don't know the meaning of PROSECUTION in this context. The Lawyers on the side of the government are the PROSECUTION LAWYERS while Kanu's lawyers are the DEFENDING LAWYERS.

StoryHaven:
He has a good relationship with Pa Adeboye but takes Oyedepo as an enemy. While the same Oyedepo is Adeboyes boy.

How do we explain this.

Bakare's fallout with Oyedepo is rooted in biblical principles. Oyedepo wrote a book about the SACREDNESS of the anointing oil which Bakare faulted publicly. Bakare is also against some of the practices of Oyedepo such as feet washing. excessive tithing to avoid the vicissitudes of life.

While it is easy to excise the south-east to form the Republic of Biafra, Christian populations are spread across the 19 northern states. I wonder if, and how, northern Christians will be physically relocated into one geographic space. Some things are easy to implement on social media but are very complicated in practical terms. There is a sizeable non-Muslim population in the North. Southern Borno, for instance, is home to a large population of Christians. Gombe, Adamawa, Taraba, Bauchi—all in the North-east—boast an impressive population of “indigenous” Christians. There is a Christian belt that runs across Sokoto, Zamfara, Katsina, Kaduna, Kano and Jigawa. We are not talking of some Igbo or Yoruba Christians doing business in these places. We are talking about "indigenes". Moreover, there are no reports of “Christian genocide” in northern states such as Adamawa, Nasarawa, Gombe, Kwara, Kogi and Taraba. How then will they figure in “Operation exNigeria”?

A woman with high body count. A woman with high body count will find it difficult to maintain a long term relationship. She has lost the ability to connect with a new man. Yes, things might start off good with yall, but in

The long run, it’ll all come crashing down. I don’t know how you wanna do it, but find out if she has a high body or not. Don’t ask her DIRECTLY.

Bill Gates scored 1590 in the 1970^s to gain admission into Harvard.

have a sincere question that has been occupying my mind: what are the policies of the current government aimed at creating employment? Employment generation is the most important indicator of economic growth not increased revenue!

The private sector is the primary driver of employment creation, and it is incumbent upon the government to provide support and encouragement to foster its growth. For instance, the German government implemented a 75% grant to encourage manufacturers to establish their factories in the former eastern Germany, thereby facilitating the industrialization of that region after the fall of the Berlin Wall in 1989.

In Nigeria, the focus seems to be solely on increasing revenue at all costs, providing more money to be shared by FAAC.

However, it is essential to assess whether these increased revenue streams are effectively trickling down to the people and the private sector, which could potentially facilitate genuine emancipation and development.

Nigeria has for instance become one of the most expensive countries in the world to import cars, a product that is not domestically manufactured, due to punitive tariffs and duties imposed to generate additional revenue. The customs authorities are under immense pressure from the government to increase revenue. The so called revenue generation are, therefore, in some cases extortionate, and the people hapless.

While there have been efforts to build more infrastructures, it is crucial to evaluate whether these infrastructure developments alone are sufficient to generate employment in a country plagued by high levels of corruption. Contract sums in Nigeria are often highly inflated, raising concerns about the impact of corruption on governance.

It seems, in addition, that those in government are only interested in solving all the problems plaguing the country by tasking the masses to make more sacrifices while they continue to live ostentatiously, or have they have started reducing their jumbo allowances and perks in line with our economic realities?

If the primary focus of government remains solely on generating revenue and allocating funds to the tiers of government without corresponding efforts to alleviate the sufferings of the masses, what you will have is the current elitist society, not an egalitarian one.

When those in government only focus attention on benefits they can derive while in government, you are only building a society sitting on a keg of gunpowder, an implosion is a matter of time, when the masses can no longer endure the hardship.

With the biometric device used for capturing and detecting finger prints in place, the use of fraudulently obtained NIN, BVN, pictures a d other details cannot be successfully utilised. For example if a scammer goes to a bank to open an account with such illegally obtained information, he will be asked to match his fingerprints with that on the biometric device which belongs to the rightful owner. The ILLEGAL FINGERPRINT will be flagged immediately.

Plots of Deceit: When Shelter Becomes Scam

Once upon a quieter season in Nigeria’s real estate journey, wealth was earned, not staged. Men like Jide Taiwo built reputations through quiet precision, not public parades. Their offices weren’t filled with influencers; they were anchored by trained surveyors, town planners, and professionals who understood the soul of land, not just the cost of it. Companies such as Primewater View, UPDC, and Landmark Africa emerged not from Instagram reels, but from consistent service and credible results. They sold homes, not dreams. They laid blocks, not traps.

But the winds have shifted. In the last five years, real estate has begun to wear a mask. And under that mask is a theatre of performance: one where everyone, suddenly, is a realtor, without licensure, without land, without legacy. The streets of Lagos, Ogun, Oyo and Kwara are now stage sets for unsolicited pitches. Young, uniformed women stationed at malls, junctions, train platforms, sometimes with radiant charm but dubious briefs, wave glossy flyers like sacred scrolls: “Own a plot just five minutes from the airport!”, though it is buried deep in uncharted bushes, where even Google Maps loses its way.

The story gets darker. A troubling trend has emerged where CEOs of these pop-up firms gallivant across London, Doha, and Dubai, showcasing wealth not backed by credibility, but by illusion. Their Instagram pages are laced with soft life aesthetics, seducing unsuspecting investors who believe, “This man is too wealthy to scam me.” But as history now shows, many of these companies collapse under their own falsehoods. There are buyers who receive nothing after payment. Some inherit swamps, others receive layouts that never see approval. Then there are the wild investment schemes: “Get 200% ROI in 6 months”, Ponzi wrapped in real estate lingo.

And yet, the madness doesn’t end there. Land in some Lagos suburbs now rivals outer London in price, but with none of the infrastructure. Plots are priced in pound(and dollar) like they come with Queen’s guards and underground rails. The question must be asked: where are the regulators? Agencies like LASRERA and REDAN ought to be gatekeepers. Instead, many function as distant spectators, trapped in red tape or slumber, watching as citizens are bled dry.

Of course, Nigeria’s housing deficit remains one of the country’s greatest ironies, tens of thousands homeless in a nation bursting with “For Sale” signs. A functioning, ethical real estate sector would be a balm. But in its current form, it is a marketplace of parasitism: where inflated hopes are sold in square metres, and shelter is held hostage by scam artistry.

It is high time the government and its regulatory agencies rose from their bureaucratic stupor. The firestorm of fraud will not quench itself. And if we do not act, homeownership in Nigeria will become not just a dream deferred, but a tragedy lived in full daylight.

Taken together, these days, whenever I stumble upon a real estate advert, my brain whispers: ‘Buy now, regret forever.’

🏆 6. 1998 African Women’s Championship (AWCON)
The Super Falcons lifted the trophy, beginning their reign as queens of African football.
------------
This wasn't won under Abacha. The tournament took place in October. Abacha died in June. Someone has rightly pointed out the 1993 FIFA Under 17 World Cup was one under Sonekan and not Abacha. The tournament began on August 21st while IBB was still in power. He handed over to Sonekan on August 26th. The final was played on September 4th. Abacha took over on November 17th.

The first Nigerian keeper to export his talent for trade. In 1985, Rufai signed a contract with Dragons Oueme FC of Benin Republic.

In January 1988, the freckle faced Lagos born, signed a professional contract with first division KSC Lokeren of Belgium to open yet another chapter in the history of Nigerian football: he became the first Nigerian goalkeeper to play for a European clubside.

He achieved another first in Nigeria and Africa on 24th July 1993, when he became the first goalkeeper to score in open play as he converted a penalty kick during regulation time for the Super Eagles in a 6- 0 defeat of Ethiopia during the last qualifying game for Tunisia 1994 African Cup of Nations.

Ademulegun's first name was Samuel and not Johnson as wrongly stated in the write up.

Update: Omo!🙆🏿‍♂️ Mikel Is A L!ar... He Did Not Pay For Any Flight Ticket - Siasia Blows🇳🇬🦅

According to BSNsports, Nigeria coach to 2016 Rio Games, Samson Siasia has refuted claims Mikel Obi paid for players flight ticket to Brazil.

According to manager, Mikel Obi may have gone broke and is looking for free money. Recall Mikel recently claimed the executives of NFF is yet to reimburse expenses he made enroute to Rio 2016.

Reacting, Siasia said that: "Mikel did not pay for any flight tickets for the team. I say this as the head coach of the team then. He should bring the receipt if he paid. Maybe he is broke and looking for money. He should try other means to make money.

"We only had issues in the hotel that we needed to sort out the bill. I think he did pay for some of the hotel bills, but the flight to Rio, Mikel didn't pay for it. Delta Airlines was the one that flew us to Brazil. Mikel should stop talking about it. If he has a receipt to that effect, let him show us that he was the one who paid."

SmartPolician:
Well, Nigeria used Nigerian pound in 1960 which was equivalent to one naira or one pound. Technically, it means Nigeria used the naira. It's just a difference in name but the value remains the same.

You are not entirely correct. When Naira was introduced on 1st January 1973, both the legacy currency and the new one were used simultaneously for sometime and the exchange rate was 1 Nigerian pound to 2 Naira.

A FEW OF THE DOCUMENTED CASES OF LATE GENERAL ABACHA'S DIRECT STEALING FROM THE CENTRAL BANK OF NIGERIA.
************************
Following General Sani Abacha’s death on June 8, 1998, General Abdulsalami Abubakar assumed power. A month later on July 13, 1998, apparently having seen evidence of monumental looting of the treasury by his late predecessor, then Head of State instituted the Special Investigation Panel to establish “cases of swindled public funds and recover same back to the federal government coffers”.

Within a matter of days, the panel had secured records from the apex back which revealed that between November 1993 when he took over and June 1998 when he died, Abacha had taken from the CBN funds totaling $2,263,520,497(TWO BILLION DOLLARS............) in cash withdrawals, travelers cheques and telegraphic transfers, in the name of “security vote”. However, the job of the panel was made easy by the fact that one of the Abacha family associates, Alhaji Abubakar Bagudu (currently Governor of Kebbi State) was ready to cooperate by returning some of the loot.

On May 26, 1999, just three days before handing over power, General Abubakar promulgated Decree 53 of 1999 on forfeiture of assets by certain persons which listed the monies returned by the Abacha's family.

Abacha’s contempt for accountability commenced less than two weeks after he took power from Chief Ernest Shonekan. In a memo reference NSA/A/320/S/46 dated 30th November 1993, the then National Security Adviser, Alhaji Ismaila Gwarzo, requested for $100 million to combat “an economy that was deflected and distorted through the black market.” In the same memo, Gwarzo also undertook to pay back the naira equivalent into government coffers. Having apparently been briefed by Abacha, the then Central Bank of Nigeria (CBN) Governor, Dr Paul Ogwuma released the money in the following sums: $95 Million and 3.2 million Pounds Sterling, all in cash.

However, the import of that first transaction was that Abacha had realized just how easy it was to directly take money out of the CBN and that became a perfect scam for him. All that was then needed was a letter from Gwarzo seeking approval for any sum of money in the guise of “security” and the CBN would release such demand in cash. So primitive was the whole arrangement that the principal job of some security officials was to be bagging and re-bagging millions of Dollars and Pound Sterling. The following are a few of the documented transactions:

On February 13 and 15, 1995 Gwarzo collected US$200,000 and US$600,000 respectively (totaling $800,000) from the CBN. This was sequel to Abacha’s approval of his letter dated 15th February, 1995 in which he requested for US dollars $4 million and GB£ 2million “to take care of some developments in a number of areas…” The $800,000 was part payment for the approved sum of US $4 million while the balance was paid in Travellers’ Cheques.

On 29th December 1995, Gwarzo collected from the CBN the sum of US $5 million based on Abacha’s approval of his letter to deal with “situation at hand”!

The reasons given in many of the letters seeking approval to take money out of the CBN beggar belief but having “started small”, Abacha apparently became more emboldened with time.

On 23rd August, 1996, Gwarzo collected US $30 million from the CBN following Abacha’s approval of his letter dated 20th August 1996, requesting for the said money to “assist our immediate neighbours and others within this sub-region”.

On 18th December, 1996, Gwarzo collected US $ 66.5 million and GB £20 million following Abacha’s approval of his letter to meet “some requests from Heads of State of some Francophone countries, and to cultivate African solidarity.”

A month later on 30th September, 1996, Gwarzo collected US $50 million and GB £20 million from the CBN sequel to his letter dated 24th September 1996, requesting for the money to “prop some African and other Third World countries” to assist in Nigeria’s “democratization and economic recovery”.

On 28th April, 1997, Gwarzo collected US $60 million GB £30 million sequel to Abacha’s approval of his letter dated 22nd April 1997, in which he requested for the said sums for “public relations to international communities and organizations”.

On 9th July, 1997, Gwarzo collected US $ 5 million from the CBN following Abacha’s approval of his letter dated 23rd May, 1997 to meet all “demands and commitments as directed”.

A month later on 8th December, 1997, Gwarzo collected US $120 million and GB £50 million sequel to Abacha’s approval of his letter dated 26th November 1997. And on 19th January, 1998, Gwarzo collected from the CBN the sums of US $100 million and GB£ 50 million to “counter insinuations that (Lt. General Oladipo) Diya’s coup was not real, and the government framed them to remove and replace the coupists with stooges.” The interesting thing about this particular transaction was that while re-bagging the money, “four cartons containing a total of about US$ 8 million were set aside” in Gwarzo’s own residence, while the balance of US $57 million and GB£ 30 million were delivered to the late Head of State through Mohammed Abacha.

On 25th October, 1997, Gwarzo collected US$ 80 million and GB £40 million “to sponsor military intervention in Sierra Leone, and garner support for same in the West African Sub-region.”

On 30th April, 1998, a few weeks before Abacha died, Gwarzo collected US $ 80 million, GB £50 million and N250 million based on his letter dated 29th April 1998 for the conduct of an enlightenment campaign on the “virtues” of an “Abacha Presidency”.

On 5th July, 1996, Gwarzo collected from the CBN the sum of US $8.1 million and GB £ 5.2 million based on his request dated 14th June 1996, to support five presidential aspirants in the Niger Republic general elections.

On 21st February, 1997, Gwarzo collected from the CBN the sums of US $60 million and £20 million for “pro-Nigeria propangada” abroad.

On 1st April, 1998, Gwarzo collected from the CBN the sums of US $65 million and GB £30 million for “Public Relations at home and abroad, to counter the European Union campaign against the transition programme.”

On the 8th of May, 1996 Gwarzo collected US $3 million and US $9 million respectively from the CBN. Out of this sum, he reportedly sent US $ 7 million (on behalf of Abacha) to then President Matthew Kerekou of Benin Republic as “assistance to the country to pay outstanding workers’ salary” while US $2 million was for Kerekou himself.

On 13th November, 1996, Gwarzo collected US $5 million and GB £3 million from the CBN based on his letter dated 7th November, 1996 “to take care of foreign dignitaries who will attend the burial ceremonies of the first President of Nigeria, Dr. Nnamdi Azikiwe.”

On 10th September, 1997, Gwarzo collected US$ 60 million and GB£ 30million from the CBN “to finance a campaign for a seat on the Security Council of the United Nations Organisation.”

On 9th December, 1996, Gwarzo collected US $5 million from the CBN sequel to Abacha’s approval of his letter dated 21st November, 1996 in which he requested the said sum “to finance the purchase of ten Toyota Land Cruisers, and ten Peugeot 505 saloons for the Republic of Mali”.

A FEW OF THE DOCUMENTED CASES OF LATE GENERAL ABACHA'S DIRECT STEALING FROM THE CENTRAL BANK OF NIGERIA.
************************
Following General Sani Abacha’s death on June 8, 1998, General Abdulsalami Abubakar assumed power. A month later on July 13, 1998, apparently having seen evidence of monumental looting of the treasury by his late predecessor, then Head of State instituted the Special Investigation Panel to establish “cases of swindled public funds and recover same back to the federal government coffers”.

Within a matter of days, the panel had secured records from the apex back which revealed that between November 1993 when he took over and June 1998 when he died, Abacha had taken from the CBN funds totaling $2,263,520,497(TWO BILLION DOLLARS............) in cash withdrawals, travelers cheques and telegraphic transfers, in the name of “security vote”. However, the job of the panel was made easy by the fact that one of the Abacha family associates, Alhaji Abubakar Bagudu (currently Governor of Kebbi State) was ready to cooperate by returning some of the loot.

On May 26, 1999, just three days before handing over power, General Abubakar promulgated Decree 53 of 1999 on forfeiture of assets by certain persons which listed the monies returned by the Abacha's family.

Abacha’s contempt for accountability commenced less than two weeks after he took power from Chief Ernest Shonekan. In a memo reference NSA/A/320/S/46 dated 30th November 1993, the then National Security Adviser, Alhaji Ismaila Gwarzo, requested for $100 million to combat “an economy that was deflected and distorted through the black market.” In the same memo, Gwarzo also undertook to pay back the naira equivalent into government coffers. Having apparently been briefed by Abacha, the then Central Bank of Nigeria (CBN) Governor, Dr Paul Ogwuma released the money in the following sums: $95 Million and 3.2 million Pounds Sterling, all in cash.

However, the import of that first transaction was that Abacha had realized just how easy it was to directly take money out of the CBN and that became a perfect scam for him. All that was then needed was a letter from Gwarzo seeking approval for any sum of money in the guise of “security” and the CBN would release such demand in cash. So primitive was the whole arrangement that the principal job of some security officials was to be bagging and re-bagging millions of Dollars and Pound Sterling. The following are a few of the documented transactions:

On February 13 and 15, 1995 Gwarzo collected US$200,000 and US$600,000 respectively (totaling $800,000) from the CBN. This was sequel to Abacha’s approval of his letter dated 15th February, 1995 in which he requested for US dollars $4 million and GB£ 2million “to take care of some developments in a number of areas…” The $800,000 was part payment for the approved sum of US $4 million while the balance was paid in Travellers’ Cheques.

On 29th December 1995, Gwarzo collected from the CBN the sum of US $5 million based on Abacha’s approval of his letter to deal with “situation at hand”!

The reasons given in many of the letters seeking approval to take money out of the CBN beggar belief but having “started small”, Abacha apparently became more emboldened with time.

On 23rd August, 1996, Gwarzo collected US $30 million from the CBN following Abacha’s approval of his letter dated 20th August 1996, requesting for the said money to “assist our immediate neighbours and others within this sub-region”.

On 18th December, 1996, Gwarzo collected US $ 66.5 million and GB £20 million following Abacha’s approval of his letter to meet “some requests from Heads of State of some Francophone countries, and to cultivate African solidarity.”

A month later on 30th September, 1996, Gwarzo collected US $50 million and GB £20 million from the CBN sequel to his letter dated 24th September 1996, requesting for the money to “prop some African and other Third World countries” to assist in Nigeria’s “democratization and economic recovery”.

On 28th April, 1997, Gwarzo collected US $60 million GB £30 million sequel to Abacha’s approval of his letter dated 22nd April 1997, in which he requested for the said sums for “public relations to international communities and organizations”.

On 9th July, 1997, Gwarzo collected US $ 5 million from the CBN following Abacha’s approval of his letter dated 23rd May, 1997 to meet all “demands and commitments as directed”.

A month later on 8th December, 1997, Gwarzo collected US $120 million and GB £50 million sequel to Abacha’s approval of his letter dated 26th November 1997. And on 19th January, 1998, Gwarzo collected from the CBN the sums of US $100 million and GB£ 50 million to “counter insinuations that (Lt. General Oladipo) Diya’s coup was not real, and the government framed them to remove and replace the coupists with stooges.” The interesting thing about this particular transaction was that while re-bagging the money, “four cartons containing a total of about US$ 8 million were set aside” in Gwarzo’s own residence, while the balance of US $57 million and GB£ 30 million were delivered to the late Head of State through Mohammed Abacha.

On 25th October, 1997, Gwarzo collected US$ 80 million and GB £40 million “to sponsor military intervention in Sierra Leone, and garner support for same in the West African Sub-region.”

On 30th April, 1998, a few weeks before Abacha died, Gwarzo collected US $ 80 million, GB £50 million and N250 million based on his letter dated 29th April 1998 for the conduct of an enlightenment campaign on the “virtues” of an “Abacha Presidency”.

On 5th July, 1996, Gwarzo collected from the CBN the sum of US $8.1 million and GB £ 5.2 million based on his request dated 14th June 1996, to support five presidential aspirants in the Niger Republic general elections.

On 21st February, 1997, Gwarzo collected from the CBN the sums of US $60 million and £20 million for “pro-Nigeria propangada” abroad.

On 1st April, 1998, Gwarzo collected from the CBN the sums of US $65 million and GB £30 million for “Public Relations at home and abroad, to counter the European Union campaign against the transition programme.”

On the 8th of May, 1996 Gwarzo collected US $3 million and US $9 million respectively from the CBN. Out of this sum, he reportedly sent US $ 7 million (on behalf of Abacha) to then President Matthew Kerekou of Benin Republic as “assistance to the country to pay outstanding workers’ salary” while US $2 million was for Kerekou himself.

On 13th November, 1996, Gwarzo collected US $5 million and GB £3 million from the CBN based on his letter dated 7th November, 1996 “to take care of foreign dignitaries who will attend the burial ceremonies of the first President of Nigeria, Dr. Nnamdi Azikiwe.”

On 10th September, 1997, Gwarzo collected US$ 60 million and GB£ 30million from the CBN “to finance a campaign for a seat on the Security Council of the United Nations Organisation.”

On 9th December, 1996, Gwarzo collected US $5 million from the CBN sequel to Abacha’s approval of his letter dated 21st November, 1996 in which he requested the said sum “to finance the purchase of ten Toyota Land Cruisers, and ten Peugeot 505 saloons for the Republic of Mali”.

There are three aspects of the “subsidy fraud”. One, a fuel importer could bring in 2000 metric tonnes and claim subsidy for 8,000 metric tonnes. “The mark-up will be shared down the line.” The money is just too much. Imagine the billions of naira available to be shared on a regular basis. So, the regulatory system is compromised and weakened.”

Two, NNPC always imports more than it has storage facility for. “So, the product is stored at private tank farms. If NNPC stores 30 million litres with your farm, you don’t have to account for 30 million litres. There is a process by which you can account for only 5 million litres as long as you know how to share the proceeds of the remaining 25 million litres with those who matter.” Ask yourself: how come our refineries have not been working for ages? Name another country that has four refineries that hardly work. Do you know how many emergency billionaires we have produced through turn-around maintenance contracts in the last 30 years?”

The third aspect of the fraud: “When they tell you the landing cost of petrol is N1,000 and the pump price is N800, it means the importer will get subsidy payment of about N200 per litre. Now, that is another fraud. There are different grades of PMS (petrol). They do not go for the same price. In the UK, for instance, the price of leaded petrol is different from that of unleaded. In Nigeria, we don’t distinguish between grades. We pay the same price. So, the landing cost of the lowest grade may be N900, but the importer still gets a subsidy payment of about N200 instead of N100 per litre. Do the math. Multiply that by millions of litres everyday and you will understand the fraud. Remember too that the importers get paid for demurrage even if they don’t incur it. I can go on and on.”

To cap it all, I can tell you authoritatively that our daily PMS consumption is not as high as officially quoted. It is the biggest fraud ever. We keep calculating subsidy on the assumption that we consume 60 million litres a day. Remember to always discount the official figures. It is good for your health.”