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Nairaland Forum / Nairaland / General / Politics / Jonathan, NOI, Governors And The Excess Crude Account Events (41012 Views)
Photos Of Buhari With APC And PDP Governors And Aisha Buhari In London / Wike Mocks 5 APC Governors And Amaechi At Campaign / Excess Crude Account Now $2.26bn – FG (2) (3) (4)
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Re: Jonathan, NOI, Governors And The Excess Crude Account Events by bobbiekrantz: 11:19am On Jul 09, 2015 |
barcanista: One thing with these lying liars(APC) is that they hate statistics.. Their only machinery for destruction is Propaganda..and lies.. They are a bunch of disappointment to the illiterates 9 Likes 3 Shares |
Re: Jonathan, NOI, Governors And The Excess Crude Account Events by Bevista: 11:20am On Jul 09, 2015 |
barcanista:When there is a collusion of fraud, there is generally going to be a conspiracy of silence. It does not mean that there is no infraction of the law. If all the governors and the presidency are on the same page, they can perpetuate illegality without anyone complaining. Have you not watched many legislative sessions where NASS members complained about spending by ministries and parastatals without appropriation? The CBN and the NNPC are typical examples. How did the presidency spend over N1.6T in 2011 for subsidy payments without appropriation. Finally, you can make your point politely without referring to my comment as 'misyarning'. 1 Like |
Re: Jonathan, NOI, Governors And The Excess Crude Account Events by fisaylab: 11:20am On Jul 09, 2015 |
barcanista: The question is,is the spending documented,why crying unnecessarily.your madam shall be investigate wheather u like it or not. 2 Likes |
Re: Jonathan, NOI, Governors And The Excess Crude Account Events by DeGenius3(m): 11:21am On Jul 09, 2015 |
nduchucks: please did you really understand what the OP wrote? seriously, i think you need to really comprehend what he wrote up there. just saying though. 1 Like |
Re: Jonathan, NOI, Governors And The Excess Crude Account Events by socialmediaman: 11:21am On Jul 09, 2015 |
Whynotthetruth: 2. http://www.vanguardngr.com/2015/01/55bn-got-wrong-fg-replies-obasanjo/ If you cant read the complete text, look for the quoted below from NOI: It stated that the reserve peaked at $62 billion in September 2008 under Yar’Adua when crude prices rose to $147 per barrel before falling to $31.7 billion in September 2011 as the Central Bank of Nigeria had to use much of it to defend the Naira, following the 2008-2009 global financial meltdown. 5. Income is often considered a synonym for revenue, as both terms refer to positive cash flow. However, in a financial context, the term income almost always refers to the bottom line, or net income. http://www.investopedia.com/ask/answers/122214/what-difference-between-revenue-and-income.asp#ixzz3fO2AmzEJ This little puppy below has something for you
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Re: Jonathan, NOI, Governors And The Excess Crude Account Events by fisaylab: 11:22am On Jul 09, 2015 |
barcanista: The question is,is the spending documented,why crying unnecessarily.your madam shall be investigated wheather u like it or not. 1 Like |
Re: Jonathan, NOI, Governors And The Excess Crude Account Events by joseph1832(m): 11:22am On Jul 09, 2015 |
MizMyColi:Whether I misyarn or not is a question of perspective and should you feel you want to point it out to me, its a matter of choice also. Surely you don't need me to tell you what to do, do you? anonimi:I can't read the picture you posted. Its not clear. But in essence, I would still want to believe the FG as of then should have held their ground in court and wait for the supreme court judgment, not cower every time these governors take them to court. And besides, is the Federation account the same as The Excess Crude Account because I don't believe the federation account can be reserved for 'a rainy day'. And I was actually referring to the ECA. |
Re: Jonathan, NOI, Governors And The Excess Crude Account Events by StOla: 11:22am On Jul 09, 2015 |
obailala: OBJ is light years ahead of the others. Yar Adua was impaired by his health, but had a bright outlook and more democratic. Jonathan was a dunce. An irredeemably irresponsible fellow of the nth order. His apologists try their best to redeem the irredeemable, but a pig with makeup still remains a pig. 3 Likes |
Re: Jonathan, NOI, Governors And The Excess Crude Account Events by Nobody: 11:22am On Jul 09, 2015 |
obailala: But you forgot that there was no railway system working , now good roads, no new industries, no power generation, no agricultural development, more youth unemployment, no new universities etc...the only thing boast of is GSM that even the operators pay to have licence 1 Like |
Re: Jonathan, NOI, Governors And The Excess Crude Account Events by DeGenius3(m): 11:24am On Jul 09, 2015 |
fisaylab: look at u... you can't even spell words correctly.all you know is to come here and cry stupidly. 1 Like 1 Share |
Re: Jonathan, NOI, Governors And The Excess Crude Account Events by frisky2good(m): 11:25am On Jul 09, 2015 |
Come back, your land don appreciate in value. Emeskhalifa: |
Re: Jonathan, NOI, Governors And The Excess Crude Account Events by Nobody: 11:25am On Jul 09, 2015 |
StOla: Yea yea Yaradua health depleted the reserve from 20 biillion to 6 billion I get ur point.... Obj saved 40 billion, but nobody ask him how it was reduced to 20 billion 1 Like 1 Share |
Re: Jonathan, NOI, Governors And The Excess Crude Account Events by anonimi: 11:25am On Jul 09, 2015 |
joseph1832: The Excess crude account is an INTEGRAL part of the Federation Account held in trust by the federal government on BEHALF of all the three tiers of government i.e. including the 774 LGAs and 36 states. 1 Like |
Re: Jonathan, NOI, Governors And The Excess Crude Account Events by Whynotthetruth(m): 11:26am On Jul 09, 2015 |
obailala: 1)You're the Blackman who lacks critical thinking...so go ahead with your household and apologise to Obj...Do you know the cost of his private university and presidential library alone?...what's his salary and allowance package? 2)What was minimum wage of workers under Obj?...What is it now?... 3)How was fuel queue under Obj? ...How was it subsequently?... Was it a magic or function of extra funding?... 4)How was insurgency under Obj?...How was it subsequently?... Was the war funded and fought catapult and stones?... let me stop here...just call me after apologising to him 2 Likes 2 Shares |
Re: Jonathan, NOI, Governors And The Excess Crude Account Events by cjrane: 11:28am On Jul 09, 2015 |
We shall see how much the dulllard will leave behind in the ECA. After El rufai and his kids have had their share to enjoy abroad. APC is filled with some of the worst criminals that have been in government since 1999. 2 Likes 1 Share |
Re: Jonathan, NOI, Governors And The Excess Crude Account Events by Akinz0126(m): 11:28am On Jul 09, 2015 |
Abeg somebody should pls clerify me because am confused don't even know whom to believe anymore. |
Re: Jonathan, NOI, Governors And The Excess Crude Account Events by sweatlana: 11:29am On Jul 09, 2015 |
The truth of the matter is apc have nothing to expose about the past administration that will not implicate their core members. The past administration did very well for Nigeria. GET WAS NOT THE CAUSE OF THE FALL IN OIL PRICES. It is selfish politicians that want power at all cost that will say GEJ did not do well. My only problem with GEJ is that he did not prosecute his political enemies like obj. |
Re: Jonathan, NOI, Governors And The Excess Crude Account Events by coolladdy: 11:30am On Jul 09, 2015 |
@ Barcanista, I am amazed by ur conclusion that there was no illegal withdrawal. what do we call a process that do not follow a laid down procedures? NOI and Jonah surely withdrawn the cash illegally without proper approval. U also failed to comment on NOI submission that the FAAC approved the withdrawal but turned around to say it was Jonah when FAAC countered the first statement. Your analysis is bias and baseless. 4 Likes 1 Share |
Re: Jonathan, NOI, Governors And The Excess Crude Account Events by Nobody: 11:33am On Jul 09, 2015 |
gensteejay:When Obj was in power he said in one of his interviews that "leaders at all level failed us". He forgot that he was an incumbent President |
Re: Jonathan, NOI, Governors And The Excess Crude Account Events by nduchucks: 11:33am On Jul 09, 2015 |
Whynotthetruth: This post smacks of both intellectual and moral bankruptcy. In your mind, since there is no section of the constitution which states that FAAC must approve the withdrawal of ECA funds, then it is OK for 2 people, the President and Iweala to withdraw $2billion without due process, and potentially, fraudulently divert some of the funds toward unauthorized use, ko? By the time the investigations are over, and the money trail is followed, you'll find out that no special laws are needed to prosecute these people for theft, fraud, conspiracy and a host of other crimes. When investigations reveal that some of the money was diverted to fund GEJ's campaign, it'll become clear to you that constitutional provisions or not, your people may be headed to jail. I'm ashamed of the OP who is also asking for the quotation of the constitutional provision which renders the said withdrawals a crime. The crime here is fraud, theft, embezzlement, betrayal of public trust, money laundering e.t.c. which we do not need special laws to guard against. The days of robbing the nation of its resources with impunity are over. It is time that some big fish started paying for their crimes or refund the stolen loot, for a softer landing. 5 Likes 1 Share |
Re: Jonathan, NOI, Governors And The Excess Crude Account Events by veraponpo(m): 11:33am On Jul 09, 2015 |
socialmediaman: You forgot to also state that Obasanjo was able to pay off the balance of our debts after the Debt Relief granted by the Paris Club and other creditors. He paid the balance of $15b before saving the ECA of $20b yet the prices of oil then did not reach the peak it got to under Yar'adua and Jonathan. Jonathan should be jailed. 2 Likes |
Re: Jonathan, NOI, Governors And The Excess Crude Account Events by IamforGod: 11:34am On Jul 09, 2015 |
Hmmmmm Alll this mathematics is too much! I sha know there's a difference between good and bad. The economy was good before NOI came and nw it's not only bad its worse. Considering the fact that she works or worked at world bank my expectation was to see a better nigeria financially or leave it the way it was NOI u nor try at all 1 Like |
Re: Jonathan, NOI, Governors And The Excess Crude Account Events by AZeD1(m): 11:34am On Jul 09, 2015 |
Mr Barcanista, i truly understand you have to earn your pay (Man must wack) but your article is a big pile of trash. The whole controversy surrounding the $2 billion withdrawal is who authorized it NOI in her last press release yesterday said GEJ authorized it for the payments of subsidy, and we know that GEJ cannot unilaterally approve withdrawals from the ECA so why didn't she get approval from the appropriate quarters? If you decide to go down the route of the ECA account is illegal so no approval was needed , then you should also remember that existing laws stated that all monies accrued to Nigeria be shared by the 3 tiers of government and so by using that money to pay marketers GEJ and NOI breached their law. 4 Likes 1 Share |
Re: Jonathan, NOI, Governors And The Excess Crude Account Events by StOla: 11:35am On Jul 09, 2015 |
kaycid77: Where is the better railway now or good road network? Did OBJ not hand over 4000MW of electricity? Are we not still discussing the same 4000MW of electric power? More youth unemployment in Obasanjo's regime? Please tell us you were glued to cartoons then, so the more enlightened ones can educate you. Do you know how many jobs were created due to the GSM introduction? Do you know how many related jobs were created in ICT and ICT/ mobile phone retail? Do you know how many families have been fed on just the sales of recharge cards? The operators that paid to have GSM licenses, have employed thousands. The related service firms have employed thousands. Civil servants started buying cars again since the mid 1980s, and started building houses on land already acquired in the 1980s. People had jobs in banks with car loans and good health care insurance. Not the sorry excuse called a bank job today,working as a contractor. The same OBJ regime paid off a $12B debt after getting a n $18B debt waiver, and still saved more in the bank. The economic achievements of OBJ is yet to be rivalled, despite a higher government income. 4 Likes |
Re: Jonathan, NOI, Governors And The Excess Crude Account Events by Nobody: 11:37am On Jul 09, 2015 |
fisaylab:Everything is documented. You can confirm from Ministries of Finance and Petroleum, and CBN |
Re: Jonathan, NOI, Governors And The Excess Crude Account Events by Jesusloveyou: 11:38am On Jul 09, 2015 |
barcanista:hmm, enjoy ur fun,as u are deceiving ur fellow saTANist, i only point out ur contradiction because u never mention $9b in ur trash, and how d acc increase to $9b from $6.5b in 2012 after d last $3b was share by saraki in 2011, depleted another $4b in 2014, in d same 2014 share $4b, in 2015 fund subsidy. Stop deceiving d public with ur contradicting trash, my concern is d $30b that suppose to be in that account. 2 Likes 1 Share |
Re: Jonathan, NOI, Governors And The Excess Crude Account Events by Nobody: 11:41am On Jul 09, 2015 |
barcanista:Lol |
Re: Jonathan, NOI, Governors And The Excess Crude Account Events by Nobody: 11:42am On Jul 09, 2015 |
Demdem: The real FOO.L here is you, you have refused to decipher all he has explained.... if NASS agree with FG that the subsidy Bugdet be 300 billion, and by omission and commission it increase to 500 billion as the case has always been where do you think the executive will get the money to balance then extra...ECA of course nama |
Re: Jonathan, NOI, Governors And The Excess Crude Account Events by joseph1832(m): 11:43am On Jul 09, 2015 |
anonimi:Good. And it is that integral account that is kept for 'rainy day' that the FG allowed itself to be thwarted by the State governors. So if you ask me, if there wasn't any rainy day, the FG should have gone to court! Not allow the state governors arm twist them. The fact that the then FG easily settled out of court and share the ECA speaks volumes.... |
Re: Jonathan, NOI, Governors And The Excess Crude Account Events by socialmediaman: 11:44am On Jul 09, 2015 |
veraponpo: Thanks for the reminder. The PDP supporters are trying so hard but Nigerians know better, i mean, when did a spade become a cutlass? 1 Like |
Re: Jonathan, NOI, Governors And The Excess Crude Account Events by Nobody: 11:44am On Jul 09, 2015 |
AZeD1:Oga read the article again (and again) you will understand. Which law did GEJ and NOI breach? Can you point out the law? Did the GEJ and NOI use the money to buy "akara" or they used it for subsidy on behalf of Nigerians? Anyway, which law was breached? 1 Like |
Re: Jonathan, NOI, Governors And The Excess Crude Account Events by Whynotthetruth(m): 11:45am On Jul 09, 2015 |
PassingShot: [b]Whenever I see a lost soul, I remember that you're among...and have refused sheepishly to look the side of reason...That you come from a lineage of corrupt people doesn't mean that you call and see others as corrupt too... $2billion was withdrawn for national emergency... Was any law broken?...Kindly state it here...so how is it fraud?...or is subsidy payment now fraud?...then that means in mere 30days according to Punch newspapers, buhari has looted over 56billion Constitutionally, NEC is for economic planning not money sharing as you sheepishly say here...While FAAC is for revenue sharing from federation account...ECA is not known to any law in Nigeria... Were these co-owners duly informed of withdrawals for such national emergencies? YES...did they protest?...No...why the sudden alarm?...to still keep such half smart pathetic souls like you in their pocket... How come Jonathan was able to pay workers 1800 while Obj and co paid less(7500)...Was the money from where?...In prosecuting the war against your Muslim colleagues, wasn't it money that was going?...If Jonathan wanted to loot like your local leaders, would he has funded SWF?...Even ECA too?...Buhari government would be the person enjoying the dividends of SWF by 2017 while the initiator is receiving insult from his cows like you[/b]... 2 Likes 1 Share |
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