₦airaland Forum

holyokoto:
Fuel is already 87, Don't always focus on shortcomings

Where, I beg come take money buy for me

Escort or no escort, siren or no siren please just get to work. 9 attacks by bh in 10 days, fuel @ 120 when will this change start?

The Rivers state House of Assembly has paved the way for the state Governor, Nyesom Wike, to dissolve the local government councils reconstituted by the former Governor, Chibuike Amaechi, six days to the end of his tenure.

The assembly, in its sitting on Monday, declared the May 23 council elections in the state illegal and passed a resolution directing the state governor to dissolve the state Independent Electoral Commission (RSIEC).

The assembly also directed the governor to sack the state Judicial Service Commission (RSJSC) for its role in the protracted crisis in the state judiciary.

The resolutions came after principal officers of the RSIEC and RSJSC appeared before the lawmakers following their summons.

Twenty-nine out of the 32 members of the 8th Assembly took the resolution after grilling the officers for hours, about their activities in the commissions.

Speaker of the House, Ikuinyi Ibani, who stated that the assembly would remain "thorough, fair and clear in its proceedings", divided the House after the submissions of the Leader, Martins Amaewhule, and his deputy, Lolo Denabari, that the officers violated their oaths of office.

Ibani cautioned: "There are certain things you don't have to let to occur while you hold a position of trust. It is my belief that any decision we take on the floor of this chamber is true and in the best interest of the state. It is not witch-hunting. The documents we have showed a different thing. We must deepen democratic values as lawmakers.

"Going by the resolution of this House, we do resolve that the Governor of Rivers State, Chief Nyesom Wike, is hereby given the power to remove the members of the Rivers State Judicial Service Commission (RSJSC) from office.”

http://www.thisdaylive.com/articles/rivers-assembly-declares-local-govt-poll-illegal/211483/

Every kobo of River state money used to finance Buhari campaign must be recovered. Including the dollars flown into lagos on private jet on the day of the sham APC primary

The Peoples Democratic Party, PDP, has accused Vice President-elect, Yemi Osinbajo, of misrepresenting facts regarding Nigeria’s economy , particularly, the correct status of the country’s debt stock.

The PDP said Mr. Osinbajo’s recent claim that the Jonathan administration was leaving behind a $60 billion debt, was a deliberate attempt to discredit the PDP.

Mr. Osinbanjo made the claim last week while opening a two-day Policy Dialogue on the implementation of the Agenda for Change organised by the Policy, Research and Strategy Directorate of the APC Presidential Campaign Council in Abuja.

He said that currently, Nigeria’s local and international debt stands at US$60 billion.

“Our Debt servicing bill for 2015 is N953.6 billion, 21 per cent of our Budget. On account of severely dwindled resources, over two-thirds of the states in Nigeria owe salaries. Federal institutions are not in much better shape. Today, the nation borrows to fund recurrent expenditure,” he said.

The minister of finance, Ngozi Okonjo-Iweala, later said the total debt was $63 billion, but said it represented state and federal debts, the bulk of it predating the Jonathan administration.

The PDP in a statement by its National Publicity Secretary, Olisa Metuh, on Monday criticized the Vice President-elect for failing to be bold and honest enough to also inform the nation that the bulk of the $63.7 billion debt was incurred by APC states.

“It is indeed unfortunate that the Vice President-elect who has the details of the debt stock chose to be economical with the truth and to mislead Nigerians just to discredit the current PDP-led administration and rationalize APC’s unpreparedness for governance,” the PDP said.

“Prof. Osinbajo is aware that the $63.7 billion is made up of external and domestic debts belonging not only to the Federal Government but to federal and state governments and accumulating since the 1960s, yet he deliberately misrepresented the facts to give the unsuspecting public the impression that the amount was exclusively incurred by the current Federal Government.

“Perhaps the Vice President-elect avoided the details so as not to expose the fact that the APC controlled Lagos state has both the highest external debt stock of $1,169, billion as well as the highest domestic debt stock of N278, 867 billion.

“Furthermore we find it unacceptable and unstatesmanly for the Vice President-elect to attempt to mislead Nigerians into believing that the total federal debt component was accumulated under the President Goodluck Jonathan-led administration, when it is on record that a greater chunk of the amount was inherited”, the statement said.

The party said it was also on record that part of the contemporary borrowing from the domestic bond market was occasioned by the global economic and financial crisis as well as the downturn in crude oil revenue, which adversely affected other economies of the world.

Berating the in-coming administration for dwelling on excuses and reneging on campaign promises, the PDP wondered if the APC and the President-elect, Muhammadu Buhari did not know about the economic challenges caused by the dwindling oil revenues before making their bogus promises to Nigerians.

“The APC must fulfill its promises for which Nigerians voted for them. Were they not aware of the debt stock and the dwindling oil revenues before making their huge promises to the people? Were the promises only intended as carrots to mislead the people and deceitfully win their votes after which they are dumped?” the PDP queried.

The party said the in-coming administration should stop contriving excuses and understand that Nigerians expect nothing short of the fulfillment of its campaign promises in its four years rule, especially given that the solid foundation for wealth creation has already been laid by the PDP, which also remained truthful and honest in making promises to the people during the campaigns.

The PDP said, “come June ending, the APC must be ready to commence in a very transparent manner, the payment of monthly N5,000 to 25 million poor Nigerians from across the country, monthly allowances for discharged but yet to be employed youth corps members as well as commence delivery of free meals to school children among other promises”.

http://www.premiumtimesng.com/news/top-news/183665-bulk-of-nigerias-63-billion-debt-incurred-by-apc-states-pdp.html

The Nigeria Governors’ Forum (NGF) under the leadership of Governor Jonah Jang of Plateau State has denied any reconciliation with the Rivers State Governor, Rotimi Amaechi-led faction.

In a statement released in Abuja and signed by the Secretary and Administrator of the Forum, Osaro Onaiwu, the governors stated that any such reconciliation attempt was futile as a majority of the governors will be out of office in a matter of days and therefore should leave issues of reconciliation, reorganisation and a new Chairman to the incoming governors. The statement further described the purported reconciliation as a selfish attempt by a group of governors to force new leadership of the forum on the in-coming governors.

The governors noted that both the Chairman, Jonah Jang and his Deputy, Dr. Olusegun Mimiko of Ondo State along with a majority of governors were visibly absent because they did not consider it a priority at this late hour to be part of a selfish project.

http://www.thisdaylive.com/articles/we-are-not-part-of-governors-forum-reconciliation-says-jang-s-ngf/209898/

The smooth relationship between Rabiu Kwankwaso, outgoing governor of Kano state, and Abdullahi Ganduje, his deputy of eight years who is also the incoming governor of the state, has been threatened by Ganduje’s rejection of a parting gift of N50 million from the governor. Both men steered the ship of the state between 1999 and 2003 and were re-elected in 2011, and Ganduje is the only deputy governor that got the endorsement to succeed his boss in office. A source told TheCable that unlike Ganduje, other aides of Kwankwaso, who were also offered cash gifts, accepted them. He said the governor paid himself 100 million, while his commissioners allegedly received N5 million each. Kwankwaso’s special advisers were not left out of the largesse, as each of them were said to have collected N2.5 million. Other aides of the governor were allotted houses and plots of land at Kwankwasiyya city, Amana city and Bandirawo. Several telephone calls made by TheCable to Baba Dantiye, the governor’s director of press, were unanswered, but he eventually replied a text message to the same telephone line, simply saying: “I don’t know about it.” Meanwhile, hundreds of contractors of the state are complaining of bankruptcy, while some indigenes of Kano who are on scholarship at various higher Institutions, have not received bursary payments for three consecutive years.

Read more at: http://www.thecable.ng

ADO EKITI—Ekiti State Governor, Mr Ayo Fayose has faulted Mr Femi Falana’s claim that he (Fayose) was providing cover for armed gangs to operate in the state, saying such a comment is ridiculous and nonsensical.

Speaking in Ado-Ekiti yesterday through his Chief Press Secretary, Idowu Adelusi, the governor wondered why the Lagos-based lawyer would always stand truth on the head.

The governor, who was reacting to a comment by Falana in a national daily that the governor was the one sponsoring armed hoodlums to operate in the state described Falana as a hypocritical political merchant, who always kept silent whenever APC controlled States are involved.

He asked; “Is this not hypocrisy? And Falana did not find it important to ask those All Progressives Congress (APC)-controlled states what they have done with their workers’ salaries if truly he is a human rights activist as he claims to be.

“Hypocrisy has made Falana not to say a word on the collapse of the judiciary and the legislative arms of government in some APC controlled states. Or is the judiciary in Rivers working? And has Falana said a single word on the collapse of the judiciary in Rivers State?

While urging Falana to live up to the meaning of his name by minding his own business, Fayose wondered why the lawyer would be pretentious about some issues and act to be a defender in others not involving his friends and paymasters.

“Falana should be ignored because he is fond of beating about the bush and his utterances are always dictated by the percentage of stomach infrastructure from his paymasters.

“I have never and will never provide official cover for armed gangs.
Falana and Fayose

Falana and Fayose

‘’It is only a governor or leader that is not popular or loved by his people that would adopt such unconventional means to rule,” he said.
The governor said his being loved by Ekiti people was further demonstrated in the last general elections by the pattern the people voted for his party, the Peoples Democratic Party (PDP).

The governor added that instead of Falana advising his paymasters in the All Progressives Congress (APC) and calling them to order, he was rather leading them astray.

“The reason Nigerians should stop paying attention to any comment by Falana on Ekiti is that murder cases involving a former governor and four lawmakers, are pending in various courts and Falana kept quiet and pretended as if nothing happened.

“It is this same man, who as a Senior Advocate of Nigeria, ought to protect and encourage the protection of the judiciary, is the one underneath encouraging the APC lawmakers to disrespect court orders all in the name of politics.

“It is this same party of his, which owes workers seven months salary in Osun and four months in Oyo and Ogun that is crying every day in the press over a little delay in the payment of April salary in Ekiti,” he concluded.
IGP deploys special squad in Ekiti over kidnappings

Meantime, the Inspector General of Police, Solomon Arase has assured people of Ekiti of a rapid response to the spate of kidnapping in the state.
Arase, while hosting the Ekiti State Governor, Mr Ayodele Fayose in his office, promised to deploy a special team to Ekiti and Kogi states within the next 48 hours to curb the menace.

The IGP, who noted that the police will do everything within its power to ensure that all states of the Federation are rid of people with criminal tendencies, assured the governor that Ekiti State will soon become safe for economic activities.

Addressing newsmen, Fayose expressed his readiness to create an enabling environment for the police to thrive in checking crimes in the state.

He said all hands must be on deck irrespective of party affiliations, to ensure a peaceful Ekiti where everyone would sleep with their two eyes closed.
- See more at: http://www.vanguardngr.com/2015/05/alleged-cover-for-gangs-youre-a-hypocritical-fayose-tells-falana/#sthash.5cvduyJo.dpuf

Shitima bring back our girls

Dear Buhari,

Congratulation once again for your victory at the polls.

Now to the point of this letter: You have got 4 years to keep ALL your campaign promises and your time starts May 29 at 00hrs. Please note that we will not tolerate any form of excuses for non performance as nobody forced you to make those promises. We were told that you are a man of your words, so please in your own best interest, keep your words.

We are not asking for heaven on earth, no. We are simple asking that you deliver on YOUR promises:

4 refineries
40mw of electricity
Naira = dollars
N5,000 for unemployed
One year allowance for corp members
Free qualitative education
Fight against corruption, (not selective fight please)
and many more.

Please dont come asking for more time because we dont have the luxury of more time. Dont tell us to be patient, because if we wanted to be patient, Jonathan would have been our perfect man. Dont tell us past leader destroyed the economy because you were one of them. Just get to work and get us result. If you cant deliver, now is the time throw in the towel.

Be guided

Voter

Dear Buhari,

Congratulation once again for your victory at the polls.

Now to the point of this letter: You have got 4 years to keep ALL your campaign promises and your time starts May 29 at 00hrs. Please note that we will not tolerate any form of excuses for non performance as nobody forced you to make those promises. We were told that you are a man of your words, so please in your own best interest, keep your words.

We are not asking for heaven on earth, no. We are simple asking that you deliver on YOUR promises:

4 refineries
40mw of electricity
Naira = dollars
N5,000 for unemployed
One year allowance for corp members
Free qualitative education
Fight against corruption, (not selective fight please)
and many more.

Please dont come asking for more time because we dont have the luxury of more time. Dont tell us to be patient, because if we wanted to be patient, Jonathan would have been our perfect man. Dont tell us past leader destroyed the economy because you were one of them. Just get to work and get us result. If you cant deliver, now is the time throw in the towel.

Be guided

Voter

Dear Buhari,

Congratulation once again for your victory at the polls.

Now to the point of this letter: You have got 4 years to keep ALL your campaign promises and your time starts May 29 at 00hrs. Please note that we will not tolerate any form of excuses for non performance as nobody forced you to make those promises. We were told that you are a man of your words, so please in your own best interest, keep your words.

We are not asking for heaven on earth, no. We are simple asking that you deliver on YOUR promises:

4 refineries
40mw of electricity
Naira = dollars
N5,000 for unemployed
One year allowance for corp members
Free qualitative education
Fight against corruption, (not selective fight please)
and many more.

Please dont come asking for more time because we dont have the luxury of more time. Dont tell us to be patient, because if we wanted to be patient, Jonathan would have been our perfect man. Dont tell us past leader destroyed the economy because you were one of them. Just get to work and get us result. If you cant deliver, now is the time throw in the towel.

Be guided

Voter

WisdomCanada:
u sound pained, FYI, i support fairness and equity, not party.

You are a big foooo for not knowing that card reader is not in our electoral law and cant be a basis for litigation

Dear Buhari,

Congratulation once again for your victory at the polls.

Now to the point of this letter: You have got 4 years to keep ALL your campaign promises and your time starts May 29 at 00hrs. Please note that we will not tolerate any form of excuses for non performance as nobody forced you to make those promises. We were told that you are a man of your words, so please in your own best interest, keep your words.

We are not asking for heaven on earth, no. We are simple asking that you deliver on YOUR promises:

4 refineries
40mw of electricity
Naira = dollars
N5,000 for unemployed
One year allowance for corp members
Free qualitative education
Fight against corruption, (not selective fight please)
and many more.

Please dont come asking for more time because we dont have the luxury of more time. Dont tell us to be patient, because if we wanted to be patient, Jonathan would have been our perfect man. Dont tell us past leader destroyed the economy because you were one of them. Just get to work and get us result. If you cant deliver, now is the time throw in the towel.

Be guided

Voter

1. MEDIA PROPAGANDA:

This is in APC DNA, so its foolishness to expect anything order than this. Lagos government has the perfect template where 26 billion was budgeted for media and strategy. Little wonder, Lagosians who lack simple pipe born water continue to hail Fashola as the best thing that happened to mankind since the invention of light bulb.

2. ENDLESS PROBES

This is an off shot of NO 1, a diversionary tactics from its failure to deliver on its promises

3. TRAIL AND ERRORS

Looking at the proposed men that will drive the programmes of the new government you will discovered that this are men who have been out of works for years, who are not in tune with new realities, who are past their prime as compared with the men from international bodies put together by Jonathan.

4. A SEASON OF WITCH HURT

That Buhari is a man given to seeking revenge is no news. The AIT brohaha is just the first in a long list to come

5. SEAT TIGHT PRESIDENT

You dont need me to tell you that Buhari has an obsession with power and crave for it life a man crave for air. Didnt any one notice the hint when Benue delegation paid him a visit?

The Financial Council audit report on the Central Bank of Nigeria which led to the suspension of Sanusi Lamido Sanusi from office accused the apex bank management of several financial practices that border on fraud. It said that there is a provision for “Facility Management of N7.034 billion in 2012; N5.751 billion in 2011. A breakdown of these figures reveals that this is

just an expense head where the leadership of the CBN dumps what ordinarily should have been accounted for as their Benefit-in-Kind for tax purposes. A closer look at the breakdown shows that it is just an expense head that is used for fraudulent activities as they have items such as “Profit from sale of Diesel” indicating that the CBN at some point operates in the downstream sector of the Petroleum industry.

sanusi

*CBN Gov Lamido Sanusi

Download the report here

“There are also breakdown such as “Currency issue Expenses” of N1.158 billion and Sundry Currency charges of N1.678 billion under “CURRENCY ISSUE EXPENSES.” As they are in 2011 so are similar expenses in 2012. These are difficult to understand.

The CBN accounts revealed it paid Nigerian Security Printing and Minting Plc N38.233 billion in 2011 for “Printing of Banknotes” whereas the entire Turnover of NSPM Plc Group is N29.370 billion.

“It also therein claimed that it paid Air Charter, such as paid to Emirate Airline N0.511 billion; Wing Airline, N0.425 billion and Associated Airline N1.025 billion to distribute currency by air nationwide. Emirate Airline does not fly local charter in Nigeria. Wing Airline is not registered with Nigeria Civil Aviation Authority and Associated Airline does not have a billion turn-over for 2011 because upon inquiry, the management claimed that they have no financial statements and have not had any significant operations for the past two years, that will warrant preparation of financial statements.

“There are also breakdown such as “Currency issue Expenses” of N1.158 billion and Sundry Currency charges of N1.678 billion under “CURRENCY ISSUE EXPENSES.” As they are in 2011 so are similar expenses in 2012. These are difficult to understand.

Other areas of fraudulent activities include:

“Facility Management N7.034 billion in 2012 N5.751 billion in 2011. A further breakdown of these figures reveals that this is just an expense head where the leadership of the CBN dumps what ordinarily should have been accounted for as their Benefit-in-Kind for tax purposes. A closer look at the breakdown shows that it is just an expense head that is used for fraudulent activities as they have items such as “Profit from sale of Diesel” indicating that the CBN at some point operates in the downstream sector of the Petroleum industry.

“Within the “Administrative expenses” is an item they referred to as “Loan write-off.” This accounts for loans supposedly given to staff and written off thereafter. It came to a total of N3.855 billion in 2012. There is the need to review the Board approval for this loan write off if any.

Within the “Administrative expenses” is an item they referred to as “Fixed Assets Clearing Account.” These are properties acquired by the CBN for which it does not expect to derive future economic benefits.

These properties are written off by the CBN on a yearly basis. This came to N4.076 billion in 2012; up from N1.324 billion in 2011. This should not be mistaken for “Disposal of Fixed Assets Schedule.

The report further said “Foreign Bank accounts that have been closed offshore were still operational in the General Ledger for over six months after they have been confirmed as closed accounts by the offshore Banks. A thorough investigation will reveal how the balances in the now fictitious foreign accounts are treated. It also said that “There are long outstanding invoices that make up the liability account from as far back as 2005. The External Auditors have to request, in their draft management letter, the management or whoever deems it fit to carry out a thorough investigation in this area to ensure items standing in this account are valid invoices.

The “Know Your Customer” policy is not properly followed by the CBN to the extent that the CBN has an unknown customer with account balance of N1.423 billion since 2008. The CBN claim that they are taken steps to obtain the required details regarding the address of the customer.

“Real time Gross Settlement Clearing Account, that is supposed to be reconciled on a daily basis, has long standing reconciling items that could not be substantiated. The external audit revealed debit/credit balances of sundry foreign currencies without physical stock of foreign currencies in CBN Head Office account. At no point should one expect to have fictitious Naira balances without the foreign currencies to back them up. It is important to know who is or was with the foreign currencies at the time.

According to the Financial reporting council an organisation that had an additional brought forward to General Reserves Fund of a mere N16.031billion in 2012 could still go ahead to spend uncontrollably in 2012 and in some cases even increase the expenses.

The CBN it said spent on promotional activities; N3.086 billion in 2012 up from N1.084 billion in 2011; even when the CBN does not have a competitor in Nigeria which may require a “fight” over brand and customer size. The figures are too high.

“Expenses on Newspapers, Books and Periodicals excluding CBN’s Publications is N1.678 billion in 2012; up from N1.670 billion in 2011.

The CBN was gracious enough to reduce their “Legal and Professional Fees” from N20. 202 billion in 2011 to N0.460 billion in 2012. What could the CBN have had to spend N20.202 billion on in 2011? They also reduced their “sundries” unexplainable expenses from N1.197 billion in 2011 to N0.690 billion in 2012. One is at a loss why the CBN still carry “unexplainable expenses” and of this magnitude.

“The CBN also magnanimously reduced expenses on “Ethics and Anti-Corruption” from N34 million in 2011 to N18 million in 2012. This is an area that they are supposed to strengthen their activities and unearth unethical and corrupt practices. The CBN preferred to reduce their financing by almost 50 per cent. The CBN, outside the agreed audit fee of N300 million paid to their External Auditors and which was reviewed upward in 2012 from N200 million in 2011, the CBN showed within “Administrative Expenses” that they paid the External Auditors another N140 million.

Section 6 (3c) of the CBN Act, 2007 provides that the Board of the CBN is to make recommendation to Your Excellency on the rate of remuneration to External Auditors. An investigation need to be carried out to know whether the Board secured your approval on this review.

The leadership of the CBN also wrote off loans to the tune of N3,856 billion in 2012. Since this was disclosed in under “Administrative expenses”, it was supposedly made to staff members.

The Council outlined the CBN ff due process and said that “Non compliance with laws and relevant regulatory guidelines could lead to reputational damage for CBN. Examples are: The provisions of the Memorandum of Understanding (MOU) signed by the CBN and other Deposit Money Banks (DMBs) on Banking Resolution Sinking Fund are not being complied with by the CBN.

“A Board of Trustees (BOT) to manage the fund has not been put in place since it was established in 2010. (The BOT is supposed to consist of two representatives of the CBN, the Permanent Secretary of the Ministry of Finance, a representative of the Debt Management Office and five members of the eligible financial institutions. The CBN went ahead to issue the Nigerian Treasury bill investment using part of the money in this banking resolution sinking fund account without the settling up and approval of the said Board of Trustees in accordance with the signed MOU.

“Some parastatals deposit accounts with the CBN have debit or overdrawn positions. This is contrary to government policy on the CBN’s management of parastatals accounts with the CBN. Amongst the MDAs listed by the CBN, with overdrawn positions to which the CBN is now accounting as loan provisioning are Federal Ministry of Science and Technology, Nigeria Deposit Insurance Corporation, Nigerian Security and civil Defense, Ministry of Foreign Affairs and Federal Civil Service Commission. It will be necessary to circularise these MDAs to ascertain the veracity of this claim by the CBN.

In case HRH forgot why he was suspended:


The Financial Council audit report on the Central Bank of Nigeria which led to the suspension of Sanusi Lamido Sanusi from office accused the apex bank management of several financial practices that border on fraud. It said that there is a provision for “Facility Management of N7.034 billion in 2012; N5.751 billion in 2011. A breakdown of these figures reveals that this is

just an expense head where the leadership of the CBN dumps what ordinarily should have been accounted for as their Benefit-in-Kind for tax purposes. A closer look at the breakdown shows that it is just an expense head that is used for fraudulent activities as they have items such as “Profit from sale of Diesel” indicating that the CBN at some point operates in the downstream sector of the Petroleum industry.

sanusi

*CBN Gov Lamido Sanusi

Download the report here

“There are also breakdown such as “Currency issue Expenses” of N1.158 billion and Sundry Currency charges of N1.678 billion under “CURRENCY ISSUE EXPENSES.” As they are in 2011 so are similar expenses in 2012. These are difficult to understand.

The CBN accounts revealed it paid Nigerian Security Printing and Minting Plc N38.233 billion in 2011 for “Printing of Banknotes” whereas the entire Turnover of NSPM Plc Group is N29.370 billion.

“It also therein claimed that it paid Air Charter, such as paid to Emirate Airline N0.511 billion; Wing Airline, N0.425 billion and Associated Airline N1.025 billion to distribute currency by air nationwide. Emirate Airline does not fly local charter in Nigeria. Wing Airline is not registered with Nigeria Civil Aviation Authority and Associated Airline does not have a billion turn-over for 2011 because upon inquiry, the management claimed that they have no financial statements and have not had any significant operations for the past two years, that will warrant preparation of financial statements.

“There are also breakdown such as “Currency issue Expenses” of N1.158 billion and Sundry Currency charges of N1.678 billion under “CURRENCY ISSUE EXPENSES.” As they are in 2011 so are similar expenses in 2012. These are difficult to understand.

Other areas of fraudulent activities include:

“Facility Management N7.034 billion in 2012 N5.751 billion in 2011. A further breakdown of these figures reveals that this is just an expense head where the leadership of the CBN dumps what ordinarily should have been accounted for as their Benefit-in-Kind for tax purposes. A closer look at the breakdown shows that it is just an expense head that is used for fraudulent activities as they have items such as “Profit from sale of Diesel” indicating that the CBN at some point operates in the downstream sector of the Petroleum industry.

“Within the “Administrative expenses” is an item they referred to as “Loan write-off.” This accounts for loans supposedly given to staff and written off thereafter. It came to a total of N3.855 billion in 2012. There is the need to review the Board approval for this loan write off if any.

Within the “Administrative expenses” is an item they referred to as “Fixed Assets Clearing Account.” These are properties acquired by the CBN for which it does not expect to derive future economic benefits.

These properties are written off by the CBN on a yearly basis. This came to N4.076 billion in 2012; up from N1.324 billion in 2011. This should not be mistaken for “Disposal of Fixed Assets Schedule.

The report further said “Foreign Bank accounts that have been closed offshore were still operational in the General Ledger for over six months after they have been confirmed as closed accounts by the offshore Banks. A thorough investigation will reveal how the balances in the now fictitious foreign accounts are treated. It also said that “There are long outstanding invoices that make up the liability account from as far back as 2005. The External Auditors have to request, in their draft management letter, the management or whoever deems it fit to carry out a thorough investigation in this area to ensure items standing in this account are valid invoices.

The “Know Your Customer” policy is not properly followed by the CBN to the extent that the CBN has an unknown customer with account balance of N1.423 billion since 2008. The CBN claim that they are taken steps to obtain the required details regarding the address of the customer.

“Real time Gross Settlement Clearing Account, that is supposed to be reconciled on a daily basis, has long standing reconciling items that could not be substantiated. The external audit revealed debit/credit balances of sundry foreign currencies without physical stock of foreign currencies in CBN Head Office account. At no point should one expect to have fictitious Naira balances without the foreign currencies to back them up. It is important to know who is or was with the foreign currencies at the time.

According to the Financial reporting council an organisation that had an additional brought forward to General Reserves Fund of a mere N16.031billion in 2012 could still go ahead to spend uncontrollably in 2012 and in some cases even increase the expenses.

The CBN it said spent on promotional activities; N3.086 billion in 2012 up from N1.084 billion in 2011; even when the CBN does not have a competitor in Nigeria which may require a “fight” over brand and customer size. The figures are too high.

“Expenses on Newspapers, Books and Periodicals excluding CBN’s Publications is N1.678 billion in 2012; up from N1.670 billion in 2011.

The CBN was gracious enough to reduce their “Legal and Professional Fees” from N20. 202 billion in 2011 to N0.460 billion in 2012. What could the CBN have had to spend N20.202 billion on in 2011? They also reduced their “sundries” unexplainable expenses from N1.197 billion in 2011 to N0.690 billion in 2012. One is at a loss why the CBN still carry “unexplainable expenses” and of this magnitude.

“The CBN also magnanimously reduced expenses on “Ethics and Anti-Corruption” from N34 million in 2011 to N18 million in 2012. This is an area that they are supposed to strengthen their activities and unearth unethical and corrupt practices. The CBN preferred to reduce their financing by almost 50 per cent. The CBN, outside the agreed audit fee of N300 million paid to their External Auditors and which was reviewed upward in 2012 from N200 million in 2011, the CBN showed within “Administrative Expenses” that they paid the External Auditors another N140 million.

Section 6 (3c) of the CBN Act, 2007 provides that the Board of the CBN is to make recommendation to Your Excellency on the rate of remuneration to External Auditors. An investigation need to be carried out to know whether the Board secured your approval on this review.

The leadership of the CBN also wrote off loans to the tune of N3,856 billion in 2012. Since this was disclosed in under “Administrative expenses”, it was supposedly made to staff members.

The Council outlined the CBN ff due process and said that “Non compliance with laws and relevant regulatory guidelines could lead to reputational damage for CBN. Examples are: The provisions of the Memorandum of Understanding (MOU) signed by the CBN and other Deposit Money Banks (DMBs) on Banking Resolution Sinking Fund are not being complied with by the CBN.

“A Board of Trustees (BOT) to manage the fund has not been put in place since it was established in 2010. (The BOT is supposed to consist of two representatives of the CBN, the Permanent Secretary of the Ministry of Finance, a representative of the Debt Management Office and five members of the eligible financial institutions. The CBN went ahead to issue the Nigerian Treasury bill investment using part of the money in this banking resolution sinking fund account without the settling up and approval of the said Board of Trustees in accordance with the signed MOU.

“Some parastatals deposit accounts with the CBN have debit or overdrawn positions. This is contrary to government policy on the CBN’s management of parastatals accounts with the CBN. Amongst the MDAs listed by the CBN, with overdrawn positions to which the CBN is now accounting as loan provisioning are Federal Ministry of Science and Technology, Nigeria Deposit Insurance Corporation, Nigerian Security and civil Defense, Ministry of Foreign Affairs and Federal Civil Service Commission. It will be necessary to circularise these MDAs to ascertain the veracity of this claim by the CBN.

On Thursday, a video of Anne Welsh, the CEO of the Obasanjo Foundation in London, obtained by SaharaReporters, showed her boasting that she has operated a well-oiled money-laundering scheme for many years.

The video, discreetly shot by one of the participants in the meeting in the United Kingdom in December 2014, reveals that Ms. Welsh was involved in a $4.9 million scheme to exploit the Ebola Virus Disease tragedy in West Africa through helping a group of ‘Lebanese businessmen’ who wished to donate money to the Obasanjo Foundation for some work in Sierra Leone.



The group explains that it would make the donation on one condition: the Obasanjo Foundation would get $2m, as long as it helps launder the balance of $2.9m.

Ms. Welsh also makes a shocking accusation: she says she learnt the art from former President Olusegun Obasanjo.

“I had to go through training through President Obasanjo, political training for one year to become discreet,” she says.

“Sometimes we get dollars from people who give money to our foundation and they say they don’t want it to be known that they donated the money but they want to have a letter on like our letter-headed paper and a letter from Obasanjo stating just to say ‘Thank you for your kind donations to the foundation for the work to support Ebola’. That’s it. That is what we normally do.”

On Friday, Premium Times reported that the Olusegun Obasanjo Foundation fired Ms. Welsh over the revelations that emerged on the video.

Obasanjo said he, other trustees of the organization, as well as staff of the Foundation were deeply saddened and disturbed by the allegations from Ms. Weish.

“Accordingly, the Board of Trustees has asked her to immediately resign, and she has done so.” Obasanjo told Premium Times over the phone.

The former President also said the Foundation has launched a full-scale investigation into the allegations and has already reported the matter to the London Metropolitan Police and the UK Charity Commission for a thorough probe.

He also said his Foundation had already contacted personalities mentioned or photographed with Ms. Welsh in the publication that revealed the deal, as well as other dignitaries and partners to inform them that “she has now become a persona non grata with the Foundation and its Chairman/Founder.”
Anne Welsh
Anne Welsh

Obasanjo also claimed that Ms. Welsh had ceased to be the chief executive officer of the Foundation in December 2014 when she reportedly met the Lebanese businessmen to strike the alleged money laundering deal.

“The CEO of the Foundation at that time was Franklin Lisk,” the former President said.

“I can never associate myself with anything that has to do with money laundering and corruption, and this is a very disturbing development for us all,” the former President said.

Obasanjo, however, did not address Ms. Welsh’s accusation, where she said she learnt the art of money laundering under him for a year.

Obasanjo, whose regime has been labeled as ‘one of the most corrupt regimes’ ever in Nigeria history, comparable only to Gen. Sani Abacha’s tenure, has been in the news lately, with arguments coming up on social media as to whether or not he and his administration were corrupt.

Notable among his defenders is the former Minister of Education, Obiageli Ezekwesili, who claimed that Obasanjo cannot be labeled corrupt due to insufficient or lack of “empirical evidence”.

Lagos get light?


MTCHEEEEEEWWWW

The President Jonathan and president Elect, Muammadu Buhari’s transition committees Monday met again in Abuja with a strong denial that there was a rift between them.

The committees, headed by Vice President Namadi Sambo for the out going government and Ahmed Joda for the in coming government have been at each others neck with the All Progressives Congress recently accusing the Presidency of not cooperating with the Joda-led committee, an allegation denied by the Namadi Sambo-led committee.

Alhaji Joda who led some members of his committee to meet with the Namadi Sambo committee told state House correspondents that his committee had been getting all necessary cooperation from the outgoing government.

He denied ever complaining that there was no cooperation from the out going government’s committee.
“Our committee has never said to anybody that there is no cooperation. We have never said that and we are waiting for the reports, until when they come” he said.
- See more at: http://www.vanguardngr.com/2015/05/jonathan-buhari-transition-committees-meet-say-no-rift/#sthash.qwCDjw4g.dpuf

Dear Buhari,

Congratulation once again for your victory at the polls.

Now to the point of this letter: You have got 4 years to keep ALL your campaign promises and your time starts May 29 at 00hrs. Please note that we will not tolerate any form of excuses for non performance as nobody forced you to make those promises. We were told that you are a man of your words, so please in your own best interest, keep your words.

We are not asking for heaven on earth, no. We are simple asking that you deliver on YOUR promises:

4 refineries
40mw of electricity
Naira = dollars
N5,000 for unemployed
One year allowance for corp members
Free qualitative education
Fight against corruption, (not selective fight please)
and many more.

Please dont come asking for more time because we dont have the luxury of more time. Dont tell us to be patient, because if we wanted to be patient, Jonathan would have been our perfect man. Dont tell us past leader destroyed the economy because you were one of them. Just get to work and get us result. If you cant deliver, now is the time throw in the towel.

Be guided

Voter

Dear Buhari,

Congratulation once again for your victory at the polls.

Now to the point of this letter: You have got 4 years to keep ALL your campaign promises and your time starts May 29 at 00hrs. Please note that we will not tolerate any form of excuses for non performance as nobody forced you to make those promises. We were told that you are a man of your words, so please in your own best interest, keep your words.

We are not asking for heaven on earth, no. We are simple asking that you deliver on YOUR promises:

4 refineries
40mw of electricity
Naira = dollars
N5,000 for unemployed
One year allowance for corp members
Free qualitative education
Fight against corruption, (not selective fight please)
and many more.

Please dont come asking for more time because we dont have the luxury of more time. Dont tell us to be patient, because if we wanted to be patient, Jonathan would have been our perfect man. Dont tell us past leader destroyed the economy because you were one of them. Just get to work and get us result. If you cant deliver, now is the time throw in the towel.

Be guided

Voter

Dear Buhari,

Congratulation once again for your victory at the polls.

Now to the point of this letter: You have got 4 years to keep ALL your campaign promises and your time starts May 29 at 00hrs. Please note that we will not tolerate any form of excuses for non performance as nobody forced you to make those promises. We were told that you are a man of your words, so please in your own best interest, keep your words.

We are not asking for heaven on earth, no. We are simple asking that you deliver on YOUR promises:

4 refineries
40mw of electricity
Naira = dollars
N5,000 for unemployed
One year allowance for corp members
Free qualitative education
Fight against corruption, (not selective fight please)
and many more.

Please dont come asking for more time because we dont have the luxury of more time. Dont tell us to be patient, because if we wanted to be patient, Jonathan would have been our perfect man. Dont tell us past leader destroyed the economy because you were one of them. Just get to work and get us result. If you cant deliver, now is the time throw in the towel.

Be guided

Voter

Dear Buhari,

Congratulation once again for your victory at the polls.

Now to the point of this letter: You have got 4 years to keep ALL your campaign promises and your time starts May 29 at 00hrs. Please note that we will not tolerate any form of excuses for non performance as nobody forced you to make those promises. We were told that you are a man of your words, so please in your own best interest, keep your words.

We are not asking for heaven on earth, no. We are simple asking that you deliver on YOUR promises:

4 refineries
40mw of electricity
Naira = dollars
N5,000 for unemployed
One year allowance for corp members
Free qualitative education
Fight against corruption, (not selective fight please)
and many more.

Please dont come asking for more time because we dont have the luxury of more time. Dont tell us to be patient, because if we wanted to be patient, Jonathan would have been our perfect man. Dont tell us past leader destroyed the economy because you were one of them. Just get to work and get us result. If you cant deliver, now is the time throw in the towel.

Be guided

Voter

Dear Buhari,

Congratulation once again for your victory at the polls.

Now to the point of this letter: You have got 4 years to keep ALL your campaign promises and your time starts May 29 at 00hrs. Please note that we will not tolerate any form of excuses for non performance as nobody forced you to make those promises. We were told that you are a man of your words, so please in your own best interest, keep your words.

We are not asking for heaven on earth, no. We are simple asking that you deliver on YOUR promises:

4 refineries
40mw of electricity
Naira = dollars
N5,000 for unemployed
One year allowance for corp members
Free qualitative education
Fight against corruption, (not selective fight please)
and many more.

Please dont come asking for more time because we dont have the luxury of more time. Dont tell us to be patient, because if we wanted to be patient, Jonathan would have been our perfect man. Dont tell us past leader destroyed the economy because you were one of them. Just get to work and get us result. If you cant deliver, now is the time throw in the towel.

Be guided

Voter

Dear Buhari,

Congratulation once again for your victory at the polls.

Now to the point of this letter: You have got 4 years to keep ALL your campaign promises and your time starts May 29 at 00hrs. Please note that we will not tolerate any form of excuses for non performance as nobody forced you to make those promises. We were told that you are a man of your words, so please in your own best interest, keep your words.

We are not asking for heaven on earth, no. We are simple asking that you deliver on YOUR promises:

4 refineries
40mw of electricity
Naira = dollars
N5,000 for unemployed
One year allowance for corp members
Free qualitative education
Fight against corruption, (not selective fight please)
and many more.

Please dont come asking for more time because we dont have the luxury of more time. Dont tell us to be patient, because if we wanted to be patient, Jonathan would have been our perfect man. Dont tell us past leader destroyed the economy because you were one of them. Just get to work and get us result. If you cant deliver, now is the time throw in the towel.

Be guided

Voter

1. Skewed distribution of PVC to favour the north while disenfranchising millions in the south

2. Registering under age voters in the north, Even Kwankwaso collaborated this when he said they use almajiri to defeat jonathan. An Average almajiri is less than 15 years of age

3. Programming card readers not to work in most southern states and then shifting pools in affected area to sunday when most voters will be in church

4. Investigating APC claims of irregularities while turning blind eyes to PDP allegations.

5. Insisting that voters can only vote in the polling unit they registered knowing fully well that most southerners have migrated for fear of electoral violence thereby disenfranchising another millions of eligible voters. If the card reader can authenticate voters identity then why cant they vote anywhere

President Jonathan Great acts since losing the election

1. Intensifying the fight against BH
Now we know its not all about politics

2. Telling the world "I'm ready for Buhari probe"

3. Conceding defeat and congratulating Buhari

4. Asking the PDP not to contest the result in court

5. Completing on going recruitment

6. Remaining calm

Thank you all for your comments. I made FP waoh.

But enh.....something is happening to NL oooo. No sound analysis any longer, just insults!

Well shay e no dey gum body

Cheers

1. A legion of excuses and change of promises

Since winning election, Buhari has been singing a new tune totally different from what he told us prior to the elections. From "dont expect miracles", to "my agenda threaten by falling oil prices" Now we even hear that the APC's manifestos which Nigerians voted for 'is not the bible or Qur'an which can not be change' See gobe

2. Barring AIT
Old habits die hard. 'repentant democrat' indeed. The fate of even nairaland is in the balance

3. Rewarding founder of BBOG group with political appointment
That the activities of this group is suspect from the start is no news but with this all doubts about their mission and aims have been cleared. They may have many lofty aims as a group but now we know that rescuing the chibok girls is not one of their aims

4. Promises Selective probes (Case in point, Sanusi's £20 billions)
One of the think Buhari was accused of during the campaigns was his tendacy for selective prosecutions. Now tell me, what about the Financial Reporting Council allegations of fraudulent financial recklessness leveled against Sanusi himself including the Sanusi’s claim that it paid N38.233 billion to the Nigerian Security Printing and Minting Company Plc in 2011 for the “printing of bank notes” whereas the turnover of the entire printing and minting company group is N29.370 billion.

5.Promoting god fatherism in Nigeria political space
From hanging out with OBJ to granting interview to Aljezera insinuating that OBJ is his political god father. We all know that political god fatherism is one of the bane of our national development as all political god fathers are rent seekers

6. Making Corrupt politicians the pillars of his team
For some one who made all the right noises about fighting corruption to be nomination a committee filled with people with corruption cases with EFCC leave much to be desired. Even making Timipre Sylva, who is accused of stealing N19.2billion from the state treasury while he governed the state between 2007 and 2011 as the head of his team is a shame

7. Forming a parallel government.
Through his actions and utterances, the incoming government was overheating the polity and carrying out actions which tend to undermine the powers of President Goodluck Jonathan. Do unto other as you wish other do to you



****""*******Similar Post: "Jonathan's 5 Horrible Acts Since Losing The Presidential Election" - By Martins301
https://www.nairaland.com/2287137/jonathans-5-horrible-acts-since

"Let me re-affirm that under the Jonathan presidency, your views, no matter how freely express, will not send you into prison or into exile". ‪#‎GEJMYHERO‬