₦airaland Forum

After reading all these testimonies, it keeps me wondering on how much bribes and kickbacks must have been paid by someone like Aliko Dangote to keep his business afloat. This is so unfortunate. By the way, Masiyiwa is so right about Botswana, this is perhaps the only country in Africa that is almost 100% corruption free!

This is a front page material...

@pang ea,

This thread will go to the dogs, for sure.... The curious case of the unnamed 2nd person who demanded for kickback has opened it up for speculation & it will invite all the E-tribal war lord/lordess to trade insults till the main objective will be lost...

Someone created a thread on this some few days ago but it didn't progress to the front page either.

As for that picture Peter posted, thats New york city.

Chubhie:
Edit and Make the Topic controversially sensational. Paste the part on Nigeria on your Opening post. Every attempted attempt to allow this die a natural death shall be resisted.

I will try and do that immediately the rest of the article comes in.

Chubhie:
I just wonder why the cold reception of this piece on this political board? This political board should be on fire discussing this.

Don Omenka where art thou?

Apostle hahn

Elder Gbawe

Forgive me Boss. Never saw the thread, I guess it kept getting pushed down the pile in the board by the torrent of totally useless threads created by those tribal and religious warlords on the forum. We have begged Seun and Lalasticlala to find someone whose strict mandate would be to take down such divisive and provocative threads and appropriately sanction those who create them since it appears the current mods of this section are overwhelmed. Igbo this, Yoruba that, Hausa/Fulani this, Muslims that, SE this, SW that, North this, South that, etc- these are the kind of idiotic threads that are created by the second on the board, reason why important threads such as this to which you called my attention never get to see sunshine. The board is totally fvcked up!

Will digest the content of the thread and pay dues.

Thanks.

Chubhie:
I just wonder why the cold reception of this piece on this political board? This political board should be on fire discussing this.

Don Omenka where art thou?

Apostle hahn

Elder Gbawe

Reading..........

I don't visit this section much except when I want to learn new insults

This thread should be a breeding ground for young Nigerian politicians but instead it is a place for youths to come and display their ignorance behind the comfort of a keyboard. The way they insult each other is epic. I don't really want to get into that before I am forced to track someone to where they live and have them repeat their statement

realborn:
God bless the Op and the author, Mr Strive.

Where do we start from?

I could not have said it better!

To think I only discovered this by accident.... Best thread on NLand for ages!

seunmsg:
If you read strive Masiyiwa's post very well, you will notice he never mentioned Tinubu's name. If he can mention James Ibori's name clearly, I really don't see why he can't mention Tinubu's name clearly as well.

Chances are that he mentioned Ibori because he has been convicted. He has also made reference to Dieziani, because she has been arrested and interrogated by the UK. He also mentioned Charles Taylor because he was convicted for war crimes by ICJ.

I admire that he is outspoken about the issues of corruption in Africa, but he should go the long haul and mention others who have not yet been convicted so that authorities can swing to action.

Bevista:
Chances are that he mentioned Ibori because he has been convicted. He has also made reference to Dieziani, because she has been arrested and interrogated by the UK. He also mentioned Charles Taylor because he was convicted for war crimes by ICJ.

I admire that he is outspoken about the issues of corruption in Africa, but he should go the long haul and mention others who have not yet been convicted so that authorities can swing to action.

Who told you the authorities need him to mention others before swinging into action?

They know the criminals but lack the will to institute legal proceedings against them. Don't be naive brother (No pun intended).

Chubhie:
I just wonder why the cold reception of this piece on this political board? This political board should be on fire discussing this.

Don Omenka where art thou?

Apostle hahn

Elder Gbawe

Omenka ,Gbawe? When it is obvious that the writer of this article has provided enough information which implicitly connects their current hero the frog eyed ex governor of Lagos and obj to massive instances of corruption.He makes a point of not saying it but you know that MTN must have funneled large sums of money to these diseased individuals who claim to be cleaner than God.
If Gbawe comes to this thread expect a long rant filled with hot air and noise.

Bevista:
Chances are that he mentioned Ibori because he has been convicted. He has also made reference to Dieziani, because she has been arrested and interrogated by the UK. He also mentioned Charles Taylor because he was convicted for war crimes by ICJ.

I admire that he is outspoken about the issues of corruption in Africa, but he should go the long haul and mention others who have not yet been convicted so that authorities can swing to action.

The truth and nothing but the truth.

Multichoice and MTN NG comes to my mind. Pls Mr Strive, be opened on Tinubu, we need to know if he is directly involve or not, am a fan of his political sagacity, but not willing to sacrifice my future for such corrupt act. I once argued this issue with some pals, that Econet is not just changing name willingly but some. people are trying to kill it while the coy refuses to die.

Bevista:
Chances are that he mentioned Ibori because he has been convicted. He has also made reference to Dieziani, because she has been arrested and interrogated by the UK. He also mentioned Charles Taylor because he was convicted for war crimes by ICJ.

I admire that he is outspoken about the issues of corruption in Africa, but he should go the long haul and mention others who have not yet been convicted so that authorities can swing to action.

Your position is most likely but, it is still very curious why the UK will arrest and prosecute Ibori and look the other way as regards Tinubu. It's most unlikely that the UK will collaborate with the PDP government(as at that time) to shield a corrupt opposition figure who is a turn in the flesh of the ruling party.

Just like you said, I will also like Mr Strive to go the long haul and mention the names of those who demanded and received bribe from the company but are yet to be prosecuted.

This thread has shown the monumental losses and stunted growth we have had to endure because we have all failed to tame the corruption monster in our system. The battle cannot be won if left to the government alone or one leader with integrity.

Seeking to prevent the trial of ANY suspected corruption matter will not help any citizen except those who collect the cash directly and only for some time. We need to increase the level of our discourse from the ethnic origin, religion or gender and focus more on the innocence or otherwise of the person.

Our reaction generally as more of these cases are unearthed will show if the Nigerian masses are not willing supporters of the theft of their own common patrimony and future.

Yes.

989900:
Shame on Ibori.

But this CEO, was that a business wise decision to take?

989900:
Considering MTN's conquest in Nigeria so far? Even though Econet launched a few days earlier before MTN?

It's very difficult for a person with end justify the means philosophy to understand Dr. Strive's method

EMANY01:
Omenka ,Gbawe? When it is obvious that the writer of this article has provided enough information which implicitly connects their current hero the frog eyed ex governor of Lagos and obj to massive instances of corruption.He makes a point of not saying it but you know that MTN must have funneled large sums of money to these diseased individuals who claim to be cleaner than God.
If Gbawe comes to this thread expect a long rant filled with hot air and noise.

Beyond all the traded banters here I believe those fine gentlemen are capable of elevation far and above party politics.

ArodewilliamsT:
This revelations raises more and more questions. Did MTN pay the bribes to powerful people in government? How did they manage to hang on?
He mentioned Lagos and Delta, Who was the governor then in lagos? Why is he walking free while Ibori is in gaol?
There were allegations that MTN paid a certain percentage 'kickbacks' to the President (OBJ) on *1* to stay afloat, why was it swept under the carpet?
The halliburton scandal also comes to mind, OBJ the then president was implicated there as taking kickbacks, why is he not standing trials?

questions, question and more questions.

Don't get the facts twisted

1. If MTN paid bribes, it is not Strive's responsibility to state it as he wasn't involved and may not have known.
2. Tinubu was the governor of Lagos then. If Tinubu had asked Strive for bribes, don't you think Strive would have spilled the beans?
3. I'm not disposed to making allegations based on speculations. If OBJ took bribes from MTN, it should be in the public domain and backed by facts. If not they let's understand that they are mere speculations.
4. Atiku and not OBJ is implicated in Halliburton scandal. I am shocked by your twisting of facts or ignorance of facts.

Do you know about the story of Jeff Skilling and Enronwatergate RockyFella and the Oil and Gas Business in the Early 1900s

No matter what is built on shaky foundation, it will come down. If MTN had been involved in various corruption, a simple spark that Masiyiwa is starting now could trigger MTN disintegration into pieces.

I hope Bolaji Balogun will also have the courage to tell his story on Econet one day. We were priviledge to have him address our class in Business School 6years ago, as one of the "Giant Industry Captains". His own side of the story will drill-down into Masiyawa's snippets. I remember Bolaji saying that if Econet had had an ethical orientation and stayed true to those ethos, the company's value would have been way much more than they sold it. he further went into analysis of how the company was loosing value with each sale, comparing it some board members greed. Imagine a board member having a near exclusive rights and being a supplier of diesel to cell sites.

We are better off having modest true successes than explosive corrupt success that will kaboom!!!

989900:
Considering MTN's conquest in Nigeria so far? Even though Econet launched a few days earlier before MTN?

989900:
Exactly what I was thinking.

If the company were his, I'd totally understand his stand -- I could do the same (actually I've done same in a different scenario involving one of the frontmen of a former Oyo state governor, the 'bling' one, and in another instant involving a former ministry of works top shot). I've also obliged some too -- different scenarios.

OTOH, if he were an employee, and that was against the board's direction/vision, I'd fire/transfer him (if we are not taking his conquest in other places into consideration); even though I'd feel terribly bad about it.

It's some 'jungle' out there.

It depends on how we believe and want business to be conducted in our country, the jungle style or the more responsible style. And it depends on which method will be in the long term interest, sustenance, growth and stability of our fragile society.

Every time we balk and compromise we actually strengthen the hands and influence of the corrupt ones among us. The actions and courage of Strive has contributed to the jailing of 6 people including Ibori, may of whom would have been running our affairs today in one capacity or the other.
With a little more courage and integrity, maybe many money laundering schemes would have be stopped or at least hampered from the initial stages and Africa would have been saved a lot of criminal outflow of it's resources.

Obrigardo:
thanks... Seun this is what should make the frontpage and should be pinned on the front page for the remainder of the year.
If that is your fight towards corruption (which we are all equally yoked in), please do that admin!

lalasticlala front page or you dey sleep?

Bros,

1. This sort of things in way "too-intellectual" and downright too moral to make the front page..............
2. If it's about how one celebrity "stunned" or "cute family photos" or "Igbo vs. Yoloba vs. Fulani vs Biafra", you'll be amazed how such nonsense awash the frontpage
3. Even while here, many did not even read the writeup before commenting, while some that did, comprehending the write up itself is a bigger challenge. So the spin-off lessons and values that should come out of the whole piece is coming at a snail pace.

Like someone said, it's long, not pictures, not simple, not tribal, too intellectually challenging to make the front page

For those asking why he did not mention Tinubu on the basis that Lagos and Delta states were involved, Strive did not at anytime insinuate that the investments by the state were laced with corruption. The events of the corruption were afterwards.

Lagos did a $4 billion investment via its Ibile Holdings and sold out years after for $16 billion. Worthwhile if anyone asks me.

On why he's not mentioning Tinubu, perhaps he was very smart or did not even have a personal gain in it against our presumptions. However, if anyone read between the lines he clandestinely mentioned Otudeko of which baba has been chopping from the company since its beginning till date. Simply, his owned companies have been service providers to Econet through its successors.

Interesting read that should be concluded.

I have been following Dr Strive on Facebook and it's good thinking for someone to create this thread.

I have even shared on my wall for folks to understand why Econet kept changing names. But the truth is the youths don't read anymore.

It's so worrisome that no single person commented on the post.

There were 3 states (Lagos, Delta and Akwa Ibom) that invested in Econet. All the governors were accused of diverting the proceeds of the sales of their holdings but nothing beyond accusations

People must also know that Ibori's flagrant attitude more than his corrupt practices put him in harm's way. At least, Dr Strive gave us an insight into one of his outbursts.

I am glad that these revelations are coming out and Nigerians will be dispassionate and be unanimous in fighting corruption. Out collective future depends on it.

God bless Nigeria!

Meanwhile, Dr Strive has updated the details on his Facebook wall.

He has included details of former Akwa Ibom governor's attempt to sell its stakes.

@ Pangea kindly update.

Thanks

have been following for a while as well. Part 3 is out. Bombshell continues

I just read the update and everything indicated there proves that Former President Jonathan was right when he said :Stealing is not corruption.
These people might not have taken money from Nigeria's coffers but their corruption is sky high and entrenched.

pcicero:
Meanwhile, Dr Strive has updated the details on his Facebook wall.

He has included details of former Akwa Ibom governor's attempt to sell its stakes.

@ Pangea kindly update.

Thanks

Wow!
Standby

[size=13pt]Strive Masiyiwa
It’s time to play by a different (ethical) set of rules (Part 9) Nigeria 3
[/size]
__ Beware the company you keep

The state government of Akwa Ibom held 15% of the equity in Econet Wireless Nigeria. This state was not one of the original investors but joined us later.

After five years, the governor of the state of Akwa Ibom decided to sell its stake. It had more than doubled in value in dollar terms, which meant it had been a good investment.

The state governor, an elderly gentleman called Victor Attah, sent a message through a friend that he wanted to see me in London to find out if I was interested in exercising Econet’s right to buy its shares. I agreed to meet him in London.

"I want to sell the shares to build an airport before I leave office," the governor explained.

The governor was accompanied to the meeting by a British lawyer who sat quietly taking notes. His name was Bhadresh Gohil.

With a wave of his hand, the governor said, "Mr Gohil is our legal advisor here in London. I have instructed him to handle all our negotiations with you."

The meeting did not last more than 30 minutes, as the governor was on his way to catch a flight to the U.S.

We agreed with Mr Gohil that we would meet with my own advisors a few days later to start the process.

A few days later, I went to his office with a professional banker who advised me on such transactions. We met in the lawyer's plush London offices. He was confident and smooth-spoken as he explained how much we were expected to pay. Then he explained that our money was to go to a "Special Purpose Vehicle" (SPV) before it was transferred to Nigeria. It was a sophisticated structure and he showed me a drawing of how it would work. I wrote it all down very carefully into my notebook.

___Such corporate entities as SPVs can definitely have legitimate purposes, but this one did not!

As I quizzed him about why such an unusual structure was necessary, Mr Gohil changed tact and tried to entice me with an offer I could not refuse (or so he hoped): "I'm also the advisor to the governor of Delta State, Mr James Ibori, and if you agree to pay for these shares using this structure, we will offer you shares belonging to all the state governments. In total, you can have more than 30% additional shares. It will be enough to take control of the company. My clients just want out, and they are willing to give you what you have always wanted."

I listened to him, quietly taking notes in my small notebook. I did not give away anything, but inside I was very angry. From the design of the structure, I knew immediately that it was meant to siphon off money before it reached the state governments. It was clear there was a conspiracy to steal a lot of money.

___Having already pocketed $13.5m, now the government officials could easily pocket probably another $100m through the sale process that they had developed with the help of Mr Gohil and other clever advisors in London!

When I left the meeting I immediately contacted the mutual friend who'd set up the governor's meeting. The friend was so embarrassed as I explained the corrupt structure clearly designed to steal money from the state governments. He promised to raise the issue with Governor Victor Attah. A few days later he came back and said Governor Attah had claimed ignorance about the proposal put to me by Mr Gohil. He said he would speak to Mr Gohil and tell him it had to be done properly without the structures.

We never heard from them again. Mr Gohil simply vanished. A few months later we were told that the shares had been offered to a company from the Middle East who subsequently bought them. I was not privy to how they did it except that they had violated my right to buy the shares... That is another chapter in the saga, but not for now.

Fast-forward three years, long after the sale. Our lawyers in London called me one day and asked if I could come urgently to a meeting with the Proceeds of Corruption Unit of the London Metropolitan Police: "You are not in any trouble, but I think you will find what they have to say very interesting!"

This special unit was launched by the British to investigate corruption by foreign government officials who try to launder stolen money to the U.S. and the UK.

The officers asked me to explain everything I knew about the sale of V-Mobile shares to Celtel (later Zain).

I explained the history of the entire transaction and the shareholders disputes that had led to our departure. After awhile, they asked me to focus on specific events, and, in particular, my meetings in London with the governor of Akwa Ibom, and also the meetings with Mr Gohil. It became clear to me that they had a lot of information!

"What can you tell us about this structure, using a Special Purpose Vehicle?"

I explained my understanding of it. Later on, I gave them my diary in which I had recorded the details of my meeting that day with Mr Gohil.

Below my drawing of the structure, I had written in bold letters:

"This is corrupt!!!"

Not long after my meeting with the Proceeds of Corruption Unit, Mr Gohil was arrested together with one of his partners and several others. I later learned that when the Middle Eastern company bought the shares, some of the proceeds had been diverted using the Gohil structure. Some of the money was sent to a bank in London. This large amount of money was enough to alert the British authorities that money was being laundered through their banking system.

Their investigations led them to Gohil and his associates. They raided his offices and found stashes of documents, including details of the structures. Now they were looking for witnesses to help prosecute them for corruption and money laundering.

The British authorities tried without success to get other parties, including the governor of Akwa Ibom, to come out and clear their names but they refused. Officials of President Umaru Musa Yar'Aduah's government successfully thwarted all extradition requests.

I was asked to be a witness in the trial of those who had been arrested in London. I willingly accepted. Next I will tell you about my role as a 'Witness to the Crown" on behalf of the people of Nigeria whose money had been stolen. It would be the first time that someone big went to jail (in a foreign country) for stealing money from Africans.

To be continued . . .