₦airaland Forum

Flets:
For the dummies making noise here

At 2.5million barrels crude export per day at averaged 100 dollar per barrel and an average exchange rate of 150 naira per dollar for the past few years and an averaged JV national interest of 50%......our optimal total revenue per an annum (365 days) is equal to 6.7 trillion. Note that I have used the high ends of each data both on production volumes and pricing

30 trillon will be our total oil revenue for approx. 5years. Please do the calculation yourself.

It will take a fool to argue that all the money we made in the last five years was stolen. The biggest problem with Nigeria is illiteracy. ..... otherwise some comments I've read so far will not even come up.

Soludo knowing whom Nigerians are threw out a number knowing that illiterate Nigerians will run with it cos they hardly reason. I've maintained that Soludo is desperately seeking relevance and a job.

fio:
You don't treat people u disagree with like this, show some respect sir.

Zico5:
Mr man it seems u re the ignorant one. If u mention 6.7 trillion on petroleum products alone, what of over 5 trillion accrued from tax alone per year. What of like 4trillion on import duty. Sum up everything and know how much we re getting as a country. The time for change has come and it will blow big time.

danjumakolo:
...www.nairaland.com/attachments/2094386_img20150203194755_jpeg4877af05867d84a7de68e122cff88940..

KEVIND:
And besides you can't spend any money that is not approve by the national assembley. And the National assembly is made up of PDP,APC & others.

Zico5:
Mr man it seems u re the ignorant one. If u mention 6.7 trillion on petroleum products alone, what of over 5 trillion accrued from tax alone per year. What of like 4trillion on import duty. Sum up everything and know how much we re getting as a country. The time for change has come and it will blow big time.

danjumakolo:
.....

pekeyim:
I'm saying this is the handy work of APC close to the election to deceive "Gullible" Nigerians.
Like someone clearly said. If money is missing in the creeks, why are you calling Okonjo Iweala into it? Abeg na she dey Sell Oil for water ways for Niger Delta.?

egift:
(And have you noticed how PDP successful swept the whole fraud under the rug? Otedola and others are walking scot-free because they are funding Jonathan's reelection)

EFCC arraigns 121 suspects for fuel ‘subsidy scam, oil theft’
June 17, 2014

More from: http://thenationonlineng.net/new/efcc-arraigns-121-suspects-fuel-subsidy-scam-oil-theft/

N5 billion recovered, 40 arrested over oil subsidy fraud— EFCC
November 11, 2014

- See more at: http://www.vanguardngr.com/2014/11/n5-billion-recovered-40-arrested-oil-subsidy-fraud-efcc/#sthash.lDoZJwLe.dpuf

discusant:
. Vacant head, tell: what office did fool Soludo occupy from where he noticed 30 trillion Naira missing? Soludo has been out of any government office in the last six years. The money Soludo quoted missing was from the figment of Soludo's imagination.

discusant:
APC crowd taking PDP in Yola to final burial? Hm, the crowd in Yola is much like the crowd one sees any time Boko Haram captured any area in Adamawa state.

siraj1402:
Not their fault.When the head is bad,what can you say of the other parts of the body?

anonimi:
Stop telling LIES that are so easy to puncture

Five months later =>

uyplus:
GEJ should declare his assets to Nigerians and the world at large, so we can all see how lucrative politics in Nigeria has been. GEJ is a scam, and I dare anybody with superior logic to enlighten my ignorance that this present administration isn't a hoax.

egin:
Source http://pointblanknews.com/

Vice President Jonathan Bows To Pressure, Declares N.2Billion In Assets



VP Goodluck Jonathan 
The Vice president Goodluck Jonathan yesterday capitulated to public pressure over the public declaration of his assets as done by his boss, President Umaru Yaradua as he made public his assets declaration to the Code of Conduct Bureau.

The assets which were made public by the senior Special Assistant to the Vice president on Media and Public Affairs, Ima Niboro indicates that the value of the Vice president total assets and cash in banks stands at N295,304,420.

This is about N561, 148,472 less than the assets declare by President Umaru Yar’Adua who declared his total assets to be at the value of N856,452,892.

Mr. Iniboro said the vice president’s decision to make public his assets declaration was to show that ‘there is nothing to hide’.

He added that the vice president is ‘a firm believer in the rule of law and this has guided his conduct in office through the years.

“It is this belief that also guided his position that having declared his assets for a total of seven times, there was no point in going further to publish the declaration” he noted

The vice president’s aide regretted that the position of the vice president not to make public his assets declaration had ‘generated an unfortunate storm, which is not only distractive but also quite unnecessary. We are worried that some newspapers and citizens we hold in high esteem have joined the fray.

“This merely shows that in the affairs of man, there comes a time when even the law must take a second place and the public mood must define our actions. To The Vice president, this is such a time, hence the choice to send you a copy of his declaration for publication” he said.

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In the assets declaration made public yesterday, it indicated that the vice president submitted his assets declaration before Justice Muktar Dodo of the Abuja high court on 30th May 2007, a day after the oath of office and oath of allegiance was administered on him.

A break down of the assets of the vice president indicates that he has four buildings located in Yenegoa, Abuja and his home town in Ogbia, Bayelsa state.

The Vice president said he owns a five bedroom Duplex in Gwarimpa 11, Abuja which was acquired in 2003 through loan and is valued at N24,990,000 while another Seven Bedroom Duplex, which he described as Village personal Home is located at Otuoke in Ogbia Local government area of Bayelsa state. It is valued at the cost of N18,000, 000 and was acquired through ‘savings and gifts in Kind.

The last of the Vice president’s residential buildings are the Four bedroom Duplex acquired in 2003 through ‘savings and gift in Kind’ in the Kpansia area of Yenegoa. The value of the building, he said is N15,000,000. The last Building is the extended Family house in Yenegoa which he said is a four flat storey Building acquired between 2003 and 2007 through savings. The value of the property is put at N10,000,000.

Under vacant and undeveloped plots, the vice president stated as follows: 1032.50 square meter of land located at Onopa Yenegoa and valued at N3,098.00. Plot 2C, 374 Low density Area Yenegoa allocated by the bayelsa state government and valued at N150,000. 2760.00 square meter plot at cadastral Zone BO2, Durumi, Abuja allocated by the federal Capital Development Authority and valued at N5,578,540. One Parcel of farm Land at Otuoke Ogbia acquired through inheritance and estimated at the value of N50,000,000.

Plot Medium Density in Yenegoa allocated by the Federal Ministry of Works and housing the value of which he said is N1550.00

Plot 29, Low density Area Plot in Yenegoa allocated by the Bayelsa state government the value of which is put at N4,908. While the last undeveloped plot owned by the vice president is plot 2246 Cadastral Zone A06, Abuja the value of which he put at N4, 800,000. It was allocated by the Federal Capital development Authority, FCDA

The Vice president’s investment in stocks which is being managed by City Code Investment Company is as follows.

S/No Name of Stock Number Of Shares Value As At 5/25/07
1 CADBURY PLC 8,666 N264,313
2 FLOUR MILLS PLC 8,466 N635,119.32
3 GUINESS NIG. PLC 6,395 N796,177.50
4 UNILEVER 18,750 N337,500
5 UNION BANK OF NIG. PLC 23,466 N727,446
6 FIDELITY BANK PLC 33,333 N296,663.70
7 UBA PLC 180,000 N6,838,200
8 ACCESS BANK PLC 84,656 N1,635,553.92
9 CADBURY PLC 2,500 N76,250
10 UNION BANK PLC 716,109 N22,199,379
11 FIRST BANK PLC 20,000 N808,000
12 FLOUR MILLS PLC 13,333 N1,000,241.66
13 NIGERIAN BREWERIES PLC 10,000 N363,000
14 BANK PHB PLC 866,666 N24,959,980.80
15 OANDO 15,125 N1,134,375
TOTAL 2,007,465 N62,072,200
Other investments include 4nos passenger boats for hiring which is valued at N5, 260,000. While the total cash in Nigerian banks being personal saving of salaries/allowances and income from his investments stands at N58, 984,123.

The vice president house holds utensils including generators, a BMW car valued at N15, 800,000, which he said was a gift; air conditioners, furniture, electronics and kitchen utensils is valued at N41,800,000.

Flets:
I dont do rumors. Provide the basis for the numbers you are parading. I provided mine...... point me to a link showing 9 trillion national IGR or run along.

egift:
So you rather an allegation of looting not be investigated? Guy even the devil will bow for you.

If you are not believing it, did you call for probe on other smaller cases of looting?

egift:
Tell us, how many of those criminals are in jail? Or has it become a case of Steal Billions and if caught, give Jonathan and EFCC some cut - then go home and enjoy the rest?

lalasticlala:
Former Inspector General of Police, Tafa Balogu today celebrated his wife, Olufunke's 60th birthday. The event held at their Lekki home had in attendance were top dignitaries including the current assistant IGP.


http://lindaikeji..in/2014/11/photos-ex-police-ig-tafa-balogun.html?m=1



www.nairaland.com/attachments/1905732_20141201011534_jpegdd69e9c3a38bf06446c74326aa1e1d93

EFCC Floors Igbinedion as Appeal Court Okays Ex-Gov’s Trial for Money Laundering

The Court of Appeal, Benin City, today ( April 9, 2014) upheld the appeal of the Economic and Financial Crimes Commission as it ruled that a former governor of Edo State, Lucky Igbinedion has a case to answer over allegations of financial improprieties.

In a unanimous decision, the panel of three justices led by Justice Helen M. Ogunwunmiju ruled that the former governor should return the Federal High Court to face trial for money laundering, misappropriation of fund and abuse of office. The other justices are Justice M. M. Saulawa and Justice A. O. Lokulo-Sodipe.

The EFCC approached the Court of Appeal sequel to the judgment of Justice Adamu Hobon, then of the Federal High Court, Benin City who dismissed the fresh charge of money laundering filed against the former governor on the ground that Igbinedion entered a plea bargain with the EFCC and was convicted, that the fresh charge brought against him amounts to double jeopardy.

The appellate court in upholding the appeal of the EFCC ruled that there was no agreement between Igbinedion and the EFCC that he would not face trial on fresh allegations and revelations and therefore ruled that Igbinedion returns to the High Court to face trial for money laundering and misappropriation of funds.

The EFCC had on February 8, 2011 charged the former governor and six others before a Federal High Court sitting in Benin, on a 66-count charge. Others charged along with the former governor are his brother, Michael Igbinedion, Patrick Eboigbodin, and four companies -Gava Corporation Limited, Romrig Nigeria Limited, PMI Securities Company Limited and PML (Nigeria) Limited.

The charge borders on money laundering, illegal transfer of public fund to private account and abuse of office when Igbinedion was governor of Edo State between 1997 and 2007.

Count one of the charge reads: “That you Lucky Nosakhare Igbinedion and Patrick Eboigbodin between April and May 2007 within the jurisdiction of this Honourable Court did convert the sum of N250,000,000 (two hundred and fifty million) which you illegally derived from the Local Government Joint Allocation Account (JAAC) Edo State on the pretence that the said amount was for the provision of security during the 2007 local government election in Edo State (which election never took place) and you converted the said fund with the aim of concealing the illicit origin of the funds and you thereby committed an offence punishable under Section 14(1) (a)of the Money Laundering (Prohibition) Act 2004”

Media & Publicity

9th April, 2014

Zico5:
U need no debate at all, search ur google and get the fact. Then u ll see where u re wrong

Kennywills7:
Brou hv not bn following my posts meamwhile talking about dis 30trn bro u knw dats propaganda and u dont expect fed govt to pay state workers salaries (states govts & local govts should b hold for dat)
Bro so u believe unployment in dis country was 5%?
iu just want to mislead pple cos unemployment has never bn 20% not to talk of 5%
it was even higher in d previous administration

Flets:
In absence of facts.... run along.

uyplus:
Goto the hospitals and ask when was the last time a doctor, physio, nurse, pharmacist, lab scientist etc was employed.

Goto your state civil service and ask the last time civil servants where absorbed.

BlackTechnology:
Politics aside think


Its not possible


How much do we generate yearly.?

dokyOloye:
This allegation is meant for d illiterate almajiris in Kano only.
Pls what is d total budget for the whole country in a year?
2014 budget of about 4.5 trillion was highest in d recent past.
30 trillion is like 7 yrs budget.
How long has Dr Iweala been finance minister under GEJ?
Less than 4yrs
Is it possible for such an amount to miss wtout shocking d system?
Pity how even educated Nigerians easily get carried away by mere mention of large sums.
Anybody who has even an elementary knowledge of how A SANE govt is run knows that nobody just deeps his hand like that and takes govt money,it is usually tied to inflated contracts,allowances,etc.

bakila:
Kai oga u can lie. What is the meaning of excess crude payment that was made to the various tiers of Government is it not money accruing from sale of crude oil above the budget benchmark? Na wah for una.

foxxynik:
The AU indicted Jonathan because all traces of lost funds across africa was traced down to Nigeria...
It means that... The AU funds has always been stolen and that most african countries pass through Nigeria to receive their funds... And The estimated lost through transfer has always been wired from Nigeria...that Jonathan should give account of every AU affiliated organizations and bodies that has been illegally receiving funds approved from AU.
.
.
The AU have organizations they sponsor...acros africa...
.
It was a summit, whatever lost that they might have should be as a result of their poor management...approving and transferring funds.
.
Is Jonathan the one collecting this funds?
.
Mehn....u shld try and be thinking!

Nigeria Lost $7.92bn To Corruption In One Year

A total of $7.92billion in illicit capital flowed of out Nigeria in 2012, according to the latest report released by the US-based non-profit research and advisory organisation, Global Financial Integrity (GFI).

For the year 2012, only Nigeria and South Africa are the two African countries ranked in the top 20 countries for illicit financial outflows. Nigeria was ranked 17th behind South Africa, which ranks 9th with cumulative illicit financial outflows of $29.13 in 2012.

According to the report, "Illicit Financial Flows from Developing Countries: 2003-2012," emerging economies lost a whopping $991.2billion in facilitating crime, corruption and tax evasion.

However, in the 10-year period between 2003 and 2012, Nigeria was ranked 10th with a cumulative of $157.46billion, surpassing South Africa which was ranked 12th with a cumulative $122.14billion. Also, Nigeria and South Africa are the only two African countries that were ranked for illicit financial outflows in the 10-year period between 2003 and 2012.

"The fraudulent mis-invoicing of trade transactions was revealed to be the largest component of illicit financial flows from developing countries, accounting for 77.8 percent of all illicit flows, highlighting that any effort to significantly curtail illicit financial flows must address trade mis-invoicing," said the report.

Frontline political activist, Chris Nwokobia, said that the report vindicates the position of former CBN governor, Sansui Lamido, that $20billion was missing from the coffers of the federal government.

According to Nwokobia, when Sanusi said that $20billion was not missing, many dismissed him as playing politics and he was harassed out of office.

"This report is only saying that what Sanusi said was correct. Nigeria has always been corrupt but this is the first time that corruption is driving the wheel of state," Nwokobia said.

The report, authored by GFI's chief economist Dev Kar, and GFI's junior economist Joseph Spanjers, reveals that "illicit financial flows hit a historic high of $991.2 billion in 2012 - marking a dramatic increase from 2003, when illicit outflows totalled a mere $297.4 billion."

It also notes that illicit outflows are "growing at an inflation-adjusted 9.4 percent per year, amounting to double global GDP growth over the same period."

"As this report demonstrates, illicit financial flows are the most damaging economic problem plaguing the world's developing and emerging economies," said GFI president Raymond Baker, a longtime authority on financial crime. "These outflows - already greater than the combined sum of all FDI and ODA flowing into these countries - are sapping roughly a $1trillion per year from the world's poor and middle-income economies."

From: http://leadership.ng/news/395733/nig...ption-one-year

************************************************

Before the usual suspects start jumping around excitedly like swinging monkeys in the jungle, they should read the highlighted detail.
It shows the average for the 10 year period (2002-2012) is $15.746bn. Thus the amount of $7.92bn for 2012 alone is a REMARKABLE improvement in the statistics as it cuts the average outflow by more than HALF

Is the improvement not in sync with what Transparency International reported that our country's corruption index globally has also improved from 144th in 2013 to 136th this year

Can this be a manifestation of the SYSTEMATIC fight against corruption by the federal administration of Jonathan/Sambo that follows Law & Order as in any CIVILISED society even though slow but produces LASTING results

Perhaps if we had not fallen for the CHEAP scam stories by the "opposition" and the labour union leaders looters we would also have done away with another corruption channel- fuel subsidy almost three years ago and by now be reaping the rewards of increased investment in our refineries with more EMPLOYMENT and greater TAX revenue for the federal government as well as the state and LGAs where the new private refineries would have been located.
But no we were too foolish to realise we were been taken for a ride by the sweet-talking, nothing-doing opposition politicians!

A similar operation was done in the fertiliser sector and our agricultural sector is booming because a SYSTEMATIC approach is better than the Ad-hoc media-sensation arrests with light sentences that hardly change our ATTITUDES and BEHAVIOUR towards corruption.


First posted: http://nigeriavillagesquare.com/forum/main-square/86371-nigeria-lost-7-92bn-corruption-one-year.html

Related website: http://www.gfintegrity.org/

dokyOloye:
This allegation is meant for d illiterate almajiris in Kano only.
Pls what is d total budget for the whole country in a year?
2014 budget of about 4.5 trillion was highest in d recent past.
30 trillion is like 7 yrs budget.
How long has Dr Iweala been finance minister under GEJ?
Less than 4yrs
Is it possible for such an amount to miss wtout shocking d system?
Pity how even educated Nigerians easily get carried away by mere mention of large sums.
Anybody who has even an elementary knowledge of how govt is run knows that nobody just deeps his hand like that and takes govt money,it is usually tied to inflated contracts,allowances,etc.

halimat38:
why can't Jonathan call people out or is this how they will let that money go Just like that ,Nja don suffer

BlackTechnology:
Politics aside think


Its not possible


How much do we generate yearly.?