₦airaland Forum

The supplier company has made profit over the years anyway. The present value of N32 billion naira (200 million dollars) as at 2003 is not the same as at 2024 and will be about more than a 100 billion naira now. I am sure the supplier company has no intention of supplying but want to take advantage of the exchange rate to refun the amount borrowed.
It's obvious other government insisted that refund should be the present values as at their administration which was not started in the contract. But because the contract amount was delivered in naira to the supplier company, he will want to refund in naira value of 2003. Not coming to a consensus could have delayed the refund.

FreeStuffsNG:
“After 21 years, not a single meter has been procured. We are our own problem. When I came into the office, I said this is not possible. All past administrations have tried to retrieve this fund, but they did not succeed because the supplier was powerful.
That money was paid to the alleged woman, likely a PDP woman, during the second term of the PDP government of President Olusegun Obasanjo.

Whenever Pa Obasanjo is accused of his PDP government spending $16 billion on electricity yet there was no power, he is always too quick to defend his government and get upset, this is part of the evidence that his PDP government handed $200m to the alleged woman who never delivered meters yet has been walking around free perhaps until now.

That $200m today is worth far more so asking her and the company to provide the meters is the minimum to demand from her.

Well done job by the Honourable Minister and his team. May God bless Nigeria for ever! Check my signature for free stuffs!

The individual have jumped to APC, that's why they collected the money and couldn't persecute him.

Interest free loan 😄

FreeStuffsNG:
https://nairametrics.com/2024/06/07/how-fg-recovered-n12-7-billion-metering-funds-from-local-supplier-after-21-years-adelabu/

So The local supplier no get name and cannot be charged for fraud or theft of public funds ..dey play

FreeStuffsNG:
https://nairametrics.com/2024/06/07/how-fg-recovered-n12-7-billion-metering-funds-from-local-supplier-after-21-years-adelabu/

This Minister is a strange fellow.
If he is saying the alleged contractor a lady is powerful and that the previous administrations have tried to retrieve the monies given her to supply the meters, so what did he do now that the powerful lady was able to remit some part of the funds to the ministry of power?

I am not sure PHCN was privatise as at 2003, if the contract was signed as at 2003 according to the minister

Atuero:
Unfortunately the woman in question is a Yoruba woman managing MOJEC company used as a conduit for corrupt politicians


Make we hear words, why recover the money when you can recover the meters that in the contract agreement as I am sure are available.


Why should metering be the responsibility of Government when the industry is already privatized and even subsidy removed for them start making profit?

Tinubu is empty and only using propaganda to cover up his ineptitude and incompetence,thsi is a very shameful news to us who have ran the electricity industry at managerial positions

She is so powerful that the almighty Commander-in-Chief of the Armed Forces of the Federal Republic of Nigeria, EFCC and ICPC cannot go after her and her company, get her arrested, prosecuted and jailed and her company severely penalized!

I am not impressed.

Franking:
Where's the accountability when the name of the company or individual wasn't disclosed. What happened to other recovered funds? Relooted obviously..... Tinumbu has not showed any seriousness in fighting corruption which is our major problem.

Do you expect an expert in corruption to fight corruption?

RenaissanceGuy:
₦12.7b in 2003 should be around ₦240bn today, so that's what they should have recovered.

Brother, That's what I have been saying . The system is so corrupt. The contract was given during OBJ tenure. It's the same obj that is claiming to be Jesus today. I'm not defending Tinubu..The system n3ess someone that is courageous to take a bold decision. Nigeria has been living on lies. Past government printing money recklessly.

fuck419:
Do you expect an expert in corruption to fight corruption?

You see your life. Tinubu has never gotten any contract from any fed govt. Reason well that OBJ messed up the system. He never live a good legacy

Lies everywhere, if I ask you to show me the money now, new story go crop up. You got billions, an to the next thing is to increase NEPA BILL..

Burshh:
Definitely not Mojec . Quite sure you came up with this because it is a big industry name in metering and headed by a woman. How shallow? You better stop pulling people's name down under the guise of assumption.

The will soon be made public

Krankhead:
Brother, That's what I have been saying . The system is so corrupt. The contract was given during OBJ tenure. It's the same obj that is claiming to be Jesus today. I'm not defending Tinubu..The system n3ess someone that is courageous to take a bold decision. Nigeria has been living on lies. Past government printing money recklessly.

GBAM!
True talk,but the Present Young Nigerians ( Youths) too,must throw away a tonger of Pride,I know it all, Ethnicity and Tribalism ,which they think will favours them and embrace Selfless, Hardworking,Hope and be Honest with themselves,instead of blaming others- for this can only makes them to shine and fly, wherever they go in the World.

God will judge all those responsible for the backwardness of this country. Meter supposed to be given to all households in Nigeria without much stress. But whenever you get to PHCN office it's another story entirely.

Krankhead:
Brother, That's what I have been saying . The system is so corrupt. The contract was given during OBJ tenure. It's the same obj that is claiming to be Jesus today. I'm not defending Tinubu..The system n3ess someone that is courageous to take a bold decision. Nigeria has been living on lies. Past government printing money recklessly.

So you believe the hot air from the minister or whatever?

Why did he not prosecute the company and the fictitious woman?

Yeye dey smell

Abujaexpress:
The will soon be made public

There is nothing to be made public in line with your assertion. Mojec is not the company.
You can google, Messrs. Ziklagsis Netwrok Ltd and Mrs Grace Omosigho

Or just read this article from 2015:
https://sweetcrudereports.com/nigeria-govt-discos-bicker-over-stalled-n46bn-electricity-meter-contract/

Knowledge and Truth are really not far fetched, just that many are comfortable with their sentiments and are lazy to find it.
I hope you will be honorable enough to read the article above and apologize.