₦airaland Forum

Of course OBJ is not a thief, he built his Ota Farm with his soldier salary


. . . And his Bata shoe company shares

[quote author=Sisi_Kill link=topic=761790.msg9162902#msg9162902 date=1316219070]Good question. . .unfortunately to get an answer, one would have to tread the the dark recesses of these people's psyche. I mean we're talking about a society where people are judge not by what they've done but how large their pocket is, everyone is trying to keep up with the joneses in Nigeria.

Having said that, I'm gonna play devil's advocate for a min. . .Yes it is a bit "uncool" to be that show offy in a country with very high poverty rate and low GDP but it is their money and they can do whatever they wanna do with it. What right do we have to tell someone how they may or may not spend their money?[/quote]Of course people can do whatever they like with the money in their pocket, stolen or worked for, after all it's already in their pocket.

Maybe I should not have used the word "display" in that context. I was simply asking where people got such home building funds from that they can afford to easily lock it up and snub renters for so long.

Like @OYB alluded to, try and compare hotel rental rates in Lagos to hotel rates in NY or even less developed cities around the world. You will be shocked to discover how unreasonably high the prices in Lagos and across Nigeria are.

That suggests that we have an underground economy that defies economic logic, well, correction, except the logic of corruption and dysfunctional trade.

Free market in Nigeria simply means free to loot. The economy is awash with Billions of dollars that got into the markets through corrupt back doors, causing inflation and distorting the true value of products. Hence the dysfunction.

It was also revealed at the probe that the firm with a mere N1000,000 share capital was only incorporated at the Corporate Affairs Commission on June 10, 2010, more than one year after it presented a proposal for the contract to the Presidency on November 10, 2009.

Mr. Ahmed Bello, who identified himself as the son of the former CG, testifying before the House of Representatives Adhoc Committee said he owns 25 percent of the company while 60 percent belongs to his friend, Mohammed Kaoje, a Nigeria while the remaining 15 percent belongs to another lady who they claimed has a dual citizenship of Britain and Ethiopia.

See how they are sharing public money and taking care of their sons?

If you like keep praising corrupt politicians all over. Keep voting for them 

If your relative nor dey politics and you support and voted for an "unknown' looter in April, because "he be from my town" or She be christian/muslim" or "I like their jingle" or "He gat no shoe" You be glorious mumu 

I still do not understand why this article has not hit the Homepage like the earlier LIE!

Seun I know You are awake o, at least I saw the threads you recently posted. So I'll assume that you chose to ignore the thread.

Put this up, let Nairalanders see how their government jumps into hasty conclusions like I'm probably doing right Now.    

[quote author=Sisi_Kill link=topic=761790.msg9162806#msg9162806 date=1316216592]But no one is denying the effect of corruption or even saying those in government aren't looting. The bone of contention here is the wuruwuru to the answer way the writer concluded that those homes where built by looters. I know people who own an unoccupied home in the parts of Lagos he mentioned and the reason the house remains empty is because the family is fighting over it since the patriarch died years ago. One side of the family wants it sold, the other wants it to remain in the family. . .any attempt to rent it out is sabotaged, so until they can come to a reasonable compromise, the house remains unoccupied.

And before you ask, I can honestly tell you. . . they ain't no looters! [/quote]Yes, the writer's logic is weak.

But that is not the only issue, that fact does not totally negate their question or dismiss their concern.

You gave an explanation which is very plausible, but I'm sure that cannot fully explain the problem.

I also believe the problem is caused by our cash and carry economy, we rarely use mortgage or other home Finance instruments, so many of those houses are fully paid for and the owners do not have the financial burden of monthly debt servicing, that can explain it too.

We can also assume that most of these houses are holiday homes or retirement homes built by Nigerians abroad.

Yes, they are all possible explanations.

But they still beg the question; Why such a stupendous display of wealth (all paid for and they don't care if it generates money or not) in a country with very high poverty rates and very low GDP? That is the issue.

redsun:
What is going on in nigeria is a fight of good versus evil.Obj is evil,he cannot fight evil,just like the rest of nigerian leadership and rogue system.

Boko haram projects ultimate evil,same is nigerian government,one attracts the other and both belongs to the same realm of darkness.If nigeria is true to herself,obj will be in jail for life,never to see the light of the day.And here he is trying to cajole peace.

If more of us can reason like this and not allow sentiments, ignorance and laziness take over our minds, Nigeria will become great indeed.

You understand the fundamental issue. Most don't, that's why we still have this dysfunctional joke of a country.

I did not see any mention of trial or promise of death penalty for whomever carried out the extra judicial killing  


When a society constantly refuses to punish people for crimes committed, it makes a mockery of it's laws, it's existence and communal peace.

A. Whomever killed the man should be tried and sentenced to death. Right thing to do!

B. All killers in Boko Haram should be tried and sentenced to death. Right thing to do!

When a society fails to do what is right. It should not expect progress and peace. So until we start punishing people for the crimes they actually commit based on our laws as written down, we are going no where.


I see nothing good coming out of this. It's the same old same.

A lot of people in Nigeria simply do not understand the impact of corruption. It cripples everything, distorts free markets and makes a mockery of simple principles of economics.

Especially when we make no one pay for their crimes.

People simply don't get it, that's why they keep voting the same loooooters in while cheering them on.

ChinenyeN:
Hiding history is like a thing for Africans.

Very bad habit, to say the least. I see that attitude everytime. I wonder if they understand the implications.

In Nigeria, everything can be solved by begging.


I will soon send a begging party to PHCN, we need light for our area o.

Nigeria is funny, everything can be solved by begging and pleading.

We better start begging for electricity and good roads

nasoeb:
@ chinenye
I am a proud Ijaw man and know where i came from and where i am going.

If you are eager to know more about my clan i can give you the privilege only by confide means. i wont come out to an open forum and dissect all my history to anyone. NO WAY. whats my Dignity if i do such.

I will give you more facts and link and refer you to books to read.

thanks Chinenye

Bros is your history a CIA secret? 

History is a beautiful thing to discuss, there are many people on here who can benefit from what you share. Especially young lost folks who know nothing about their ancestry.

I may be wrong, but I don't think Chinenye is asking you to drop your full family name on NL, or is the whole Ijaw clan one single family?

Anyway, please share the books and link with us here abeg, social media is the village square of the 21st century, some children and curious folks like me will definitely learn awareness and get their interest supercharged by the bits they get from you.

Please don't be stingy share knowledge, if your personal details are inside it, then darken that part and give us the rest. 

Damn that's what I envy about the curious Europeans, they don't hide history like a stolen property.

Abeg bless us with knowledge jor, don't hoard it. Nor be petrol 

PhysicsQED:
@ ndu chucks


I just understood your comment about the streets.

Streets paved with hard stone are principally a Mediterranean thing. Countries close to Greece and Rome, or who were colonized by Rome, adopted that practice, but it was not a worldwide practice. As for streets with smooth cement surfaces, that was not widespread until the technology was developed.

Are you claiming that streets without stone paving or cement surfaces were not streets? Then there were very few streets in many other 17th century kingdoms as well, so Benin was not behind that many people in this regard.

Also, there are two different quotes from European visitors which state that there is little stone in the country so the inhabitants of Benin build with earth. This is not entirely false. Large stone deposits can be found in parts of Edo north (Afenmai area), but in Edo south (Bini), it was much less plentiful so they built with earth and wood. If they had opted for stone, things might have turned out better as far as the preservation of the city, but building would have been much more time consuming and laborious because they would have to go searching long distances for stone and hauling stone over large distances back to Benin. Without large stone deposits nearby, it didn't make sense to try and pave all of the streets with stone or to construct the buildings out of stone.

Context, context, context.

Until we Africans get the importance of Historical, geographical and cultural context, we will continue to swallow every foolish one-sided analysis from illiterate, ignorant Europeans.

To many foolish Africans, civilization is wholly dependent on the interpretations given by Europeans, that is why many of them see everything uniquely African as primitive, even when it makes no iota of sense to have those things in Africa.

I.e Africans didn't have horses: so? How many wild horses have you seen in a rain forest?

Sub Sahara Africans didn't pave: so? At least they understand the concept of road path, it is by force to pave with stone?

Africans wore little clothing: So how many people do you see with a fur coat at a hot tropical beach?


Context matters, it is not great because whitie did it, it is great because it addressed local needs.

Funny thing is Europeans rarely treat their own "primitive" worldviews and practices in that manner. But of course we know why.

They name everything after their primitive "gods" from scientific discoveries to psychological phenomena, but they turn around to refer to our own worldview, gods and practices as pagan, animist or backward. Yet some of us brainwashed idiots swallow it and refuse to learn context!

Thank you PhysicsQED.

Apologies for the off topic reply 

[size=28pt]But why Lie?

It is embarrassing o [/size]

[size=27pt]But why lie ?[/size] 

[quote author=ekt_bear link=topic=761046.msg9156779#msg9156779 date=1316147512]This is a bad move, no?

How can you be asking for forgiveness from terrorists. . . ?[/quote]You don't understand Nigeria at all. If Osama was Nigerian he'll probably still be alive. We are passive aggressive like that.

We normally resolve issues by begging and prostrating

No one will pay for the deaths on Oct 1 and no one will pay for the UN bombing, well, except for small small inconsequential scapegoats.

Welcome to Nigerian (In)Justice. If you are violent enough you can get away with anything here.

This is a serious matter o. Very serious allegations

Is PDP trying to use Boko Haram as excuse? Even sambo?

But why so much hate for Aregbesola? Why nah? Wetin the man do?

I bet it's all a joke sha

Thick Madam.

abiolak:
Now that a nice step is made by the owners of nigeria, i pray that it works,

But my question is we were told that they hate western education,  Now he is pleading for thier slayed leader, who kill them and for what reason, so it simply means there are things under the capet that we ordinary nigerians do not know.

Sir, we know nothing sir.

Infact we ordinary Nigerians are the most clueless group of people, at least since Adam collected Apple from Eve. 

Ignorance is bliss.

The Owners of Nigeria have been forced to come out and actively protect their investment.

Let's see if we can fight ideology with amnesty and begging.

^


He must have trusted his math too much. I read he's a math whizz.

I feel kinda sorry for him. They will definitely jail the boy.

But he had fun while it lasted. Enough whitie chicks

‘Recently we were talking about the markets and I asked if he was getting a pasting. He replied, “It’s a s*** fight”.’

A few weeks ago Adoboli lent Mr Pitt a copy of The Wolf Of Wall Street, by Jordan Belfort. It tells the story of a young trader who makes piles of money … loses it … and ends up on the wrong side of the law.

I guess Kweku achieved his dream.

Ola one:
This guy is from a very rich background. His dad is a retired UN employee (well, call him a friend of politicians).

He was living in a million naira per month flat in London. The boy attended a private secondary school that charges about 8 million naira a year. This is much higher than what those nairalanders who lay claims to wealthy background (call it kue kue millions)  like Sefago could ever afford (not with his yeye Eti Osa private school).

Read more jare:
http://www.thesun.co.uk/sol/homepage/news/money/3817652/UBS-trader-Kweku-Adoboli-nicked-after-13bn-losses.html

That Report Na wah

All these small small boys forming financial market whizzkid all over the place better be careful now. Betting and playing kalo kalo with other peoples savings is dangerous now o, everybody eye don red  


Is that the million "naira" UK apartment? Dem they cheat people for London o, FESTAC apartments fine pass am  jor    

Yeah life is really a bytcch!

Friends are deserting the brother:  



http://m.ibtimes.com/facebook-friend-kweku-adoboli-ubs-rogue-trader-214366.html

September 15, 2011 8:53 AM
Facebook Friend Risk: The Kweku Adoboli Dilemma

By David Magee



When a name like Kweku Adoboli instantly becomes public, like the UBS trader who allegedly lost the bank $2 billion in unauthorized transactions and who is suddenly a globally hot Internet search item, many turn to the most public source available -- Facebook, the world's largest social network.


Adoboli is allegedly the UBS rogue trader who has brought UBS, the Swiss bank, momentarily to its knees in shame and financial turmoil. UBS hasn't confirmed the name of the trader, but London police have identified the man arrested in the alleged scheme as 31-year-old Adoboli.

With social media such a useful tool, the first thing journalists from around the world did Thursday morning after learning the name of the man authorities have in custody was go to Adoboli's Facebook page. [/b]Since Facebook has 750 million users worldwide, odds were good that Adoboli has some worthy information about himself there.

Which of course, he did.

[b]We learned that Adoboli likes the music of "MC Xander," "Fela Kuti," and "Gwyneth Herbert." We learned that Adoboli lists among "Activities and Interests" at Facebook several photographers, a London pub, Ghana, and "Al Jazeera English." We saw that he's connected on Facebook to the UBS network. We also learned that Adoboli has 419 Facebook "Friends."

And that's where the story gets interesting.

First, we don't know that Adoboli is guilty of being a rogue trader who cost UBS $2 billion. The charge, at this point, is just that -- a charge.

However, we do know that apparently Adoboli is the one being charged by authorities as the person who cost UBS $2 billion in unauthorized investment activity.

How a bank as big as UBS could lose $2 billion before noticing too late is an entirely separate issue. But for Adoboli's 419 Facebook friends, there's another issue many will be facing today.

Among the first things reporters do when a non-public persona surges into the spotlight for something as big as the UBS rogue trading crime is search through Facebook "Friend" lists to get insight into the person. It's actually the first thing IBTimes did this morning, for instance -- sending e-mails to many among Adoboli's Facebook "Friend" list.

None have responded so far, but that was just one hour ago. Also, it's worth noting that at first log-in to Adoboli's Facebook page he had 420 friends. Fifteen minutes later, he was down one, to 419. Now, another hour later -- Adoboli's Facebook "Friend" list has dropped to 417.

And, just before 10 a.m. EDT on Thursday, Adoboli's Facebook page was deleted.

There's nothing wrong with being Facebook friends with either someone who committed a crime or someone who, like Adoboli, is only being charged with a crime. But let's face the facts -- we're learning in this fast-changing social network world that a new kind of association is emerging that many will have to think about into the future.

Just because someone is among 419 Facebook friends with Adoboli doesn't indict them, of course. However, it may put them into a position that they don't want -- being hounded by journalists and others about one of the most costly individual rogue trading crimes ever. Tens of thousands are likely to visit Adoboli's Facebook page in the coming days, as the UBS trader becomes a well-known name around the world.

And every time another visits his Facebook page his 419 friends are there (a number likely to drop), with many getting contacted by those seeking information about Adoboli. Some might not mind, but here's a bet that many, whether they are supportive of Adoboli or not, will wish they weren't Facebook "Friends" with the man accused of rogue trading and costing UBS $2 billion.

LOL @ 419 friends  

President Jonathan according to the statement was reported to have told the delegation, inter-alia,

“We thank you for the support you gave and  please convey our appreciation to our brothers and sisters back home.

We also know that even from outside the South East, one group of people that gave us most of the votes we have in some of the states in the North are Igbo."

He really shouldn't have said that. GEJ is a good man. I blame the people writing his speeches.

buzugee:
somehow i dont think this fraud involves him making money for himself. i may be wrong.

Ok, so was he arrested and exposed to the media simply because he made a mistake at work? That's cold

I know $2B is a lot of money, but still not a good reason to send cops after your workers just because they made a bad trade.

^

If he can find a way to escape with the money, I say we adopt him and change his Surname to Adebolu.

[quote author=PROUD-IGBO link=topic=760981.msg9156124#msg9156124 date=1316128509]Don't be surprised if they find a way to blame Nigeria for this guys greed and stupidity. Afterall, Ghanaians were sweet and innocent until big bad Nigeria came on the scene.

There's good and bad in every country, but the way they go on about us, you'd be forgiven for thinking we were spawn of lucifer.[/quote]They are already blaming Naija on his Facebook, even on twitter, some claimed his Surname is a Nigerian name and he added Kweku to deceive people.

I guess Ghanaians don't believe they are capable of pulling off a $2 Billion fraud, so they blame their big brother for it.

When contacted for clarification, the Divisional Police Officer in charge of Igando Police Station, Mr. Adeoye, confirmed that division was handling the matter.

He said the matter was already in court, adding that prosecution was halted because the plaintiff is out of the country.

Wey??

Choi! See excuse and logic

Naija Police go injure pesin with laugh ooo

^
You are funny 

Beaf:
What do you mean Federal Government? I only expressed my opinion, I keep begging you people to accept my opinions as mine. I'm really bothered about it; the nonsense started during the election period when some people felt the best way to go against logic was to personalise every discussion and pidgeonhole opponents. Unfortunately, many love such far out tales, so Beaf has become the Federal Government on Nairaland. It isn't funny.

I get you loud and clear now. You have every right to express your opinion without anyone calling you an FG mouth piece.

I personally don't think you speak for any of them bro until you say so yourself. Apologies if you read that assumption in my post.

Beaf:
The first ever oil rig to be serviced in Nigeria was towed all the way to Apapa a few weeks ago. Hopefully Hyundai's shipyard will be able to handle such tasks so there will be no need to tow oil rigs out of the Niger Delta all the way to Lagos or elsewhere.

Nice development.

Why not? What if they have the port facility to fix it? They should compete too now.

My bro, Lagos needs business, jobs and taxes too. Don't they?

While there is nothing wrong with your advocacy here on behalf of Bayelsa and Niger Delta people, just know that the statement in bold will take money out of the hands of those who need it in Lagos and "elsewhere"

That is the kind of statement I expect from Senators, Reps and Governors, but not from the Federal Government o!!

I know you made that statement to support Niger Delta, nothing wrong with that at all.  Bayelsa deserves all the jobs and money they can attract, and you as a private citizen or a bayelsa Public official have every right to push that.

But I hope GEJ or anybody in federal government will not say anything like that. 

I'm just highlighting that point before somebody writes that line in My President's speech,  abeg make dem nor fall my president hand o.

^


I noticed the same similarities. I just dismissed it, maybe Orubebe reads NL, it's easy to copy Beaf nah, after all GEJ copied the phrase "Beer parlour rumor" from Beaf too

Anyway we are all Nigerians and we all tend to use similar verbiage on average.