₦airaland Forum

Thank you Mr President,, we are happy, God bless you sir

TheStoriesOfMan:
Seized funds as proceeds from illegal business is cool but what do you mean by "dormant" funds?

Do you mean unclaimed dividends by shareholders or unclaimed funds sitting in banks in which the family of the deceased spends years fighting administrative bottlenecks and corruption?

DO NOT REPLY THIS COMMENT WITH EXPLETIVES OR ILLOGICAL FACTS. I don't roll with kids or men who have barrage of family problems. Just stay far from me.

I think it should be unclaimed bank deposits and dividends. There are some idle funds that probably their owners are late and the families aren't aware that their late ones has such funds.

Mattswaggz:
Only for it to be relooted again abi?.....what have become of all those abacha loots that have been rolling in?. .

.
Negativity is an incurable killer disease

chudez0147:
Who is Nelfund ?? We understand unu

.
Okoro, keep shut. It will never be used to fund drugs trafficking or baby factories

Kukutente23:
I still don't understand why this Nelfund is always having fund issues despite the statutory provision for it

What is this Tinubu govt using all the revenues it claims to be making for?

Now they want to rob bank accounts and reloot EFCC recovery under the guis of Nelfund

Na wa o

.
Will you keep quiet?

Ameboperoo:
I think this is a good idea. Before they will be relooted again. At least, it will benefit the less privileged.


FTC finally.
It's not easy, please celebrate with me with likes.

😆

then pay back when time comes

Beautifulday:
As your drug baron Tinubu has been pocketing Lagos allocations since 1999.

Shame no dey catch Una say one man and his family has kept Lagos in his pocket for more than 2 decades

Okay let's agree that Tinubu has pocketed Lagos according to you right? So what about the other 35 states that aren't pocketed by anybody, why are they yet to catch up with Lagos in terms of visible development. Why are they not overpopulated like Lagos State? At least a pocketed state ought not to be overpopulated.

Streetinvestor2:
I am done with you
You no get level for the data boy group. I like to deal with the senior ones among them.
You have nothing to present
You can drop ur account for this month salary as you won't be paid

U just display one of the characteristics of a poor being.

Your yearly salary can't feed my puppies.

akpumping7720:
Okay let's agree that Tinubu has pocketed Lagos according to you right? So what about the other 35 states that aren't pocketed by anybody, why are they yet to catch up with Lagos in terms of visible development. Why are they not overpopulated like Lagos State? At least a pocketed state ought not to be overpopulated.

U dey mind those illiterate being.

I don't know why I'm happy about this development but hmm....Time for EF Shishi to cash out.

akpumping7720:
Okay let's agree that Tinubu has pocketed Lagos according to you right? So what about the other 35 states that aren't pocketed by anybody, why are they yet to catch up with Lagos in terms of visible development. Why are they not overpopulated like Lagos State? At least a pocketed state ought not to be overpopulated.

To enlighten people like you is impossible.

Osun state will do better with the resources of Lagos state than Lagos is doing recently.

Lagos was the capital of Nigeria before. It host the nation international seaports and airport and it's has two borders with other nations.

It's a pity you people don't know what Tinubu has done to Lagos treasury

Thiefobi1:
Nigeria knows the most notorious people involved in drug pushing worldwide.

But only one notorious drug baron is begging the US not to release his file - Tinubu the great man from south west

Thiefobi1:
This is ur fraudulent messiah threatening obiano for 7.5bn for been his anambra Godfather.

How many years wey your imaginary Messiah was a Godfather?

East get men only Southwest wey server father, serve son and about to serve grandsons

Beautifulday:
To enlighten people like you is impossible.

Osun state will do better with the resources of Lagos state than Lagos is doing recently.

Lagos was the capital of Nigeria before. It host the nation international seaports and airport and it's has two borders with other nations.

It's a pity you people don't know what Tinubu has done to Lagos treasury

Your hatred for Jagaban is out of this world!

akpumping7720:
Your hatred for Jagaban is out of this world!

My hatred for criminals in government and misgovernance is out of this world for real.

Beautifulday:
My hatred for criminals in government and misgovernance is out of this world for real.

K

Streetinvestor2:
Is that the avenue they want to use and loot it and claim the gave it to Nigeria students. Nigeria students have no reason going to sch on loan when we have countries doing free education and don't have half of our resources

And is that why Obi increased the school fees as governor instead of making it free? Or you think Obi can increase the school fees but the other government must make it free. Are you one of the audio billionaires? Hahahaha

Mattswaggz:
Only for it to be relooted again abi?.....what have become of all those abacha loots that have been rolling in?. .

Go and ask the previous governments who stole and Delores Abacha’s proceeds.

Ameboperoo:
I think this is a good idea. Before they will be relooted again. At least, it will benefit the less privileged.


FTC finally.
It's not easy, please celebrate with me with likes.

😆

congratulations on your first FTC.

sign: senu
CEO Nairaland

I see people above praising PBat for the directive of recovered fund. But what they fail to understand is that this fund has long being shared amongst PBat and his crew. Person wey dey gather fund to bribe his way in come 2027 as usual. If you know you know.

Kukutente23:
I still don't understand why this Nelfund is always having fund issues despite the statutory provision for it

What is this Tinubu govt using all the revenues it claims to be making for?

Now they want to rob bank accounts and reloot EFCC recovery under the guis of Nelfund

Na wa o

Stop vomiting trash 🚮from that hole on your face. Go read the nonsense again

Mattswaggz:
Only for it to be relooted again abi?.....what have become of all those abacha loots that have been rolling in?. .

Some people are cursed and they're irredeemable. No atom of positivity in them, chai. Human wants are truly insatiable!

omoredia:
Big thief. A crook who doesn't know how to earn an honest income

Some people are cursed and they're irredeemable. No atom of positivity in them, chai. Human wants are truly insatiable!

Streetinvestor2:
The baron that trump is coming. Tell him to send efcc to prosecut obi if he has evidence
His own evidence will soon be announced by trump government
He is going to jail in trump prison

See how you're sounding like a primary 2 pupil, chai.....A supposed adult!

MICHEALADEX:
Stop vomiting trash 🚮from that hole on your face. Go read the nonsense again

You made no sense
Try again

Trump Prison, 😂😂😂😂😂😂😂😂

See level of reasoning, Kai Kai kai

Aye Tinubu ti baje.. owo olowo e wan take dey do father xmas.

I will probe efcc.. being a president of APC doesn't given him power to control of private policies without court order.. and no court can approve that without considering the constitution. I am going straight to petition efcc now. Awon ogara olosha

fergie001:
https://www.tvcnews.tv/breaking-tinubu-directs-efcc-recoveries-dormant-funds-to-nelfund/

Very Commendable move by the President.

I like the govt priority to University education, especially with this NELFUND.

The Nigerian President does not have "sole jurisdiction power" to unilaterally or arbitrarily direct the Economic and Financial Crimes Commission (EFCC) or move unclaimed funds, as executive directives must still operate within the bounds of the 1999 Constitution and existing statutory laws like the Finance Acts and the Proceeds of Crime Act.

Constitutional and Legal Realities
1. Separation of Powers: The 1999 Constitution of the Federal Republic of Nigeria (as amended) does not grant the President sole or absolute jurisdiction over public or private funds. Executive authority must be exercised in accordance with the Constitution and extant Acts of the National Assembly.
2. Statutory Trust Funds: Unclaimed dividends and dormant account funds are regulated by specific legislative frameworks (such as provisions relating to the Unclaimed Dividends Trust Fund and Dormant Accounts Trust Fund under capital market and banking laws). Moving them requires compliance with or amendment of those governing statutes, not merely an executive pronouncement.
3. The Requirement of Due Process and Court Orders: As clarified by the administration's own briefing on the NELFUND funding directive, funds subject to ongoing litigation or legal challenges are strictly excluded, and relevant ministries and the Attorney-General of the Federation must establish a legal and operational framework rather than executing arbitrary seizures.
4. Protection of Private Property: Section 44 of the Nigerian Constitution guarantees the right to private property and prohibits compulsory acquisition of any right or interest in property without prompt compensation and due process of law. Private citizen funds held in dormant accounts or unclaimed dividends cannot be arbitrarily confiscated without proper legal mechanisms or statutory trusteeship provisions.

fergie001:
https://www.tvcnews.tv/breaking-tinubu-directs-efcc-recoveries-dormant-funds-to-nelfund/

Exactly..

Ameboperoo:
I think this is a good idea. Before they will be relooted again. At least, it will benefit the less privileged.


FTC finally.
It's not easy, please celebrate with me with likes.

😆

Kukutente23:
I still don't understand why this Nelfund is always having fund issues despite the statutory provision for it

What is this Tinubu govt using all the revenues it claims to be making for?

Now they want to rob bank accounts and reloot EFCC recovery under the guis of Nelfund

Na wa o

You go wail tire

toffyz:
Some people are cursed and they're irredeemable. No atom of positivity in them, chai. Human wants are truly insatiable!

Okay....thanks for describing yourself in words....the only problem is I didn't ask you neither do I care to know. .