₦airaland Forum

…former North-Central govs top list of alleged financial crimes


As the nation clocks her 22nd year of interrupted democratic experiment on May 29, a staggering N975 billion is alleged to have been embezzled and laundered by 30 former state governors between 1999 and 2019.

Out of the 30 former state chief executives tried by the Economic and Financial Crimes Commission (EFCC), only seven have been convicted so far, one has also been acquitted, while others have their cases ongoing or stalled due to legal processes.

A further breakdown of the governors accused of financial crimes based on regions in the country, indicates, according to Dataphyte Research, that former governors from the country’s North Central allegedly stole more state resources than their other colleagues in other regions.

Out of the 30 governors investigated by the EFCC in the period under review, four governed in the South-West, seven in the North-Central, five in the South-South, six in the South-East, three in the North-West and five in the North-East of the country.

The recent arrest of the immediate past governor of Imo State, Senator Rochas Okorocha, on the 14th of April by the EFCC, made him the latest bride on the list of former governors to be cross-examined by the anti-graft agency.

Okorocha, who is currently a sitting senator in the National Assembly, was, however, released 48-hours later by the EFCC

Meanwhile, among the governors investigated by the EFCC, only Rochas Okorocha and Abdulaziz Yari (who had his first term under ANPP) belonged to the All Progressive Congress (APC). The remaining 28 former governors were all from the People’s Democratic Party (PDP) while the alleged embezzled state funds by all of them approximated to a trillion naira.

The estimated sums allegedly embezzled by the past governors amounted to a total of N355.80 billion in the North-east, N316.35 billion in the Northwest, N161.160 billion in the South-South, N62.67 billion in South-East, N56.16 billion in North-central, and N23.30 billion in South-West – the region with the least quoted amount of looted funds.


https://ireportcorruption.com/2021/05/05/how-30-ex-governors-allegedly-embezzled-n975-billion-in-22-yrs/

That's just about $2b. Okay let's even adjust it for inflation across 22 years. Patapata, $6b.

Less than individuals like Bezos or Zuckerberg or Musk earns in a very good WEEK.

Nigeria poor sha. Imagine this kind of corruption was rife in the US. Governors of certain states (e.g. Cali, NY, TX) would be worth trillions of dollars. The president would be worth hundreds of trillions.

hedonido:
That's just about $2b. Okay let's even adjust it for inflation across 22 years. Patapata, $6b.

Less than individuals like Bezos or Zuckerberg or Musk earns in a very good WEEK.

Nigeria poor sha. Imagine this kind of corruption was rife in the US. Governors of certain states (e.g. Cali, NY, TX) would be worth trillions of dollars. The president would be worth hundreds of trillions.

$6b is less than what Zuckerberg earns in a week?

Oga, take am easy na.

Hmmmmm

Simplyleo:
$6b is less than what Zuckerberg earns in a week?

Oga, take am easy na.

Any of these guys have earned and can earn more than that in a week or less. Read my previous post. I said in a very good week.

If their share prices/valuation rise steeply for whatever reason. Do some research, man.

hedonido:
Any of these guys have earned and can earn more than that in a week or less.

If their share prices/valuation rise steeply for whatever reason. Do some research, man.

I'm still begging, abeg take am easy.

Simplyleo:
I'm still begging, abeg take am easy.

I shouldn't have to do this for you, but guess I'm in a good mood with very cold beer and very hot peppersoup in front of me, so I'll humour you.

https://www.forbes.com/sites/hanktucker/2021/05/01/mark-zuckerberg-is-8-billion-richer-in-one-week-after-facebook-earnings-surprise-analysts/?sh=7207f7a37cb0

https://www.bloomberg.com/news/articles/2020-07-20/jeff-bezos-adds-record-13-billion-in-single-day-to-his-fortune

https://www.bloomberg.com/news/articles/2021-03-10/musk-adds-25-billion-in-one-day-as-tech-rally-boosts-fortunes

Too many damage from the nigerian leaders gangstars.