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Financial Crisis Hits PDP, Debts Now N872 Million- Trail Newspaper - Politics (2) - Nairaland

Nairaland Forum › Nairaland General › Politics › Financial Crisis Hits PDP, Debts Now N872 Million- Trail Newspaper (11810 Views)

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Re: Financial Crisis Hits PDP, Debts Now N872 Million- Trail Newspaper by anonimi:
HungerBAD:
Just N872 million?

I don't believe this story, as i consider it very misleading. How can PDP be broke when Nigerian's Billions of Dollars is with them? how can PDP be broke when they stole everything they could carry in Nigeria for 16 Years? and this includes Needles,Mats,Pots, Refineries, CBN, Airports, Wives and even our Dreams.

This is too early for this kind of lies.
You must be looking at this with APC zombie eyes and mindset.


PhockPhockMan:
The All Progressives Congress (APC) is experiencing financial distress and has been unable to pay the salaries of its staff, TheCable can report.


At a news briefing on January 25, John Oyegun, national chairman of the party, had admitted that the party was having financial challenges, but he added that the party did not want to bother President Muhammadu Buhari because it was not his constitutional duty to finance the party.

“There has been this talk in the media but that goes to tell you that just like the economy, the party too is suffering from the stresses and strains of funding just like every institution in our polity,” he had said.

“That also goes to tell you that we are not a party that withdraws money from security votes or from any government agency. We are working on plans to raise money from within the memberships. That plan has matured and will soon put it into operation.

“I saw reports that we have written to the president to rescue the party. That is not part of his national duties and he has no intention because there are no funds from which he can draw from.

“The party has to come up with fresh and innovative ways as to how to raise resources for its operations and that, we have done. The plan is ready and will go into operation in the next one month or two.”

But TheCable has learnt that Buhari is not willing to “bail out” the party owing to allegations of financial mismanagement against leaders of the party.

A source privy to the “financial standoff” said some officials of the party magicked N7bn campaign funds in the last general election.

“The president is furious with the party leaders, and has refused to support them financially,” he said.

“The party now runs after state governors in a bid to survive, and has begun to knock on the doors of ministers.”

On February 24 when APC leaders met with Vice-President Yemi Osinbajo at the presidential villa, the financial crisis in the part was one of the major subjects of discussion.


https://www.thecable.ng/buhari-refuses-to-support-apc-financially-over-mismanagement-of-n7bn-campaign-fund
www.nairaland.com/attachments/3440499_zombiereceivesense_jpeg744007f5b3dc71c78ebd21345d9b31c7
Re: Financial Crisis Hits PDP, Debts Now N872 Million- Trail Newspaper by sosilly4b(m): 9:33am On Mar 14, 2016
If you check PDP 's bank account, you will think they are broke but if you check their wardrobes at home, they are richer than Abacha. PDP do not keep money in the bank.
Re: Financial Crisis Hits PDP, Debts Now N872 Million- Trail Newspaper by anonimi: 9:36am On Mar 14, 2016
sosilly4b:
If you check PDP 's bank account, you will think they are broke but if you check their wardrobes at home, they are richer than Abacha. PDP do not keep money in the bank.
Do you mean these PDP people who are now born-to-gain progreTHIEVES in the broom-wielding assembly of coven dwellers called APC huh




www.nairaland.com/attachments/2102459_apcteam_png6dc9407cdcc2b68174c445361fc3e4c9



https://www.newspunch.org/wp-content/uploads/2015/01/obj-apc22.jpg



Obasanjo endorses APC moves, as party leadership visit Abeokuta
22.Dec 2013

The push by the opposition, All Progressives Congress, APC to dislodge the ruling Peoples Democratic Party, PDP received a boost yesterday as former President Olusegun Obasanjo openly threw his weight behind the APC’s current initiatives.
The APC leadership, comprising some national leaders and governors visited him Obasanjo in Abeokuta, the Ogun State capital on Saturday to solicit the former president’s support for the party in the forthcoming elections.
The party leaders, which started converging on Obasanjo’s Hilltop Mansion around 5:22pm, included former governor of Lagos State, Asiwaju Bola Tinubu, the party’s Interim National Chairman, Bisi Akande; former Head of State, General Muhammadu Buhari; former speaker of the House of Representatives, Aminu Masari; former Borno State governor, Senator Ali Modu-Sheriff; Senator Osita Isunazor; Senator Bukola Saraki and Lai Mohammed.
Governor Murtala Nyako of Adamawa State came to the former president’s house in company with the former Chairman of the Economic and Financial Crimes Commissioin, Mallam Nuhu Ribadu; the former minister of aviation, Femi Fani-Kayode and others in a convoy of three black jeeps.
Other APC governors at the meeting included Rochas Okorocha (Imo), Ibikunle Amosun (Ogun), Abdulfattah Ahmed (Kwara), Rotimi Amaechi (Rivers), Rabiu Kwankwaso (Kano) and Senator Abiola Ajimobi (Oyo).
The Chairman of the New PDP, Kawu Baraje led some of his members and the former Kaduna State Chairman, Yero Makama, to the meeting.
Presenting the party chieftains and the APC governors to Obasanjo during the opening of the meeting, Akande said the party was in support of the former president’s 18-page letter to President Goodluck Jonathan.
The APC National Leader, Tinubu who alluded to Obasanjo’s contribution to the building of the Nigerian nation, lamented that the country was divided more than ever.
Apparently referring to Obasanjo’s recent letter to Jonathan, he enjoined the former president not to shy away from speaking the truth.
Tinubu added that the APC had resolved to rescue Nigeria, appealing to Obasanjo to lead the mission.
“You’ve come out of tribulation and held the highest position in this country. We are here because of your courage. Nobody can say he has information more than you. You have surmounted a number of crises. Nigeria is divided more than before; to realise stable Nigeria, we want to encourage you to continue to speak the truth. We’re resolved and determined to rescue Nigeria. We want you as navigator,” he said.


Source: http://newmail-ng.com/new/obasanjo-endorses-apc-moves-as-party-leadership-visit-abeokuta/
Re: Financial Crisis Hits PDP, Debts Now N872 Million- Trail Newspaper by higherpower: 9:36am On Mar 14, 2016
Then they should make a formal complain to Godswill Akpabio. Just one underground safe will suffice.
Re: Financial Crisis Hits PDP, Debts Now N872 Million- Trail Newspaper by Hammefeez: 9:37am On Mar 14, 2016
[size=20pt]PDP is dead already[/size]
Re: Financial Crisis Hits PDP, Debts Now N872 Million- Trail Newspaper by brightleave(m): 9:41am On Mar 14, 2016
big big lie. check again
Re: Financial Crisis Hits PDP, Debts Now N872 Million- Trail Newspaper by Jabioro: 9:44am On Mar 14, 2016
Where is Wike ? 900 million na chicken change to him..Akwa ibom and Cross River can single handedly do the bailout ...Just a lie,this how they lie to us for 16years
Re: Financial Crisis Hits PDP, Debts Now N872 Million- Trail Newspaper by russello: 9:54am On Mar 14, 2016
And they are winning elections (AI, CR etc) still angry
Re: Financial Crisis Hits PDP, Debts Now N872 Million- Trail Newspaper by Inspectahdeck(m): 10:01am On Mar 14, 2016
The party is broke not the individuals.



HungerBAD:
Just N872 million?

I don't believe this story, as i consider it very misleading. How can PDP be broke when Nigerian's Billions of Dollars is with them? how can PDP be broke when they stole everything they could carry in Nigeria for 16 Years? and this includes Needles,Mats,Pots, Refineries, CBN, Airports, Wives and even our Dreams.

This is too early for this kind of lies.
Re: Financial Crisis Hits PDP, Debts Now N872 Million- Trail Newspaper by Nobody: 10:02am On Mar 14, 2016
lol. they have finished all our cultivated yam now their barn is empty
Re: Financial Crisis Hits PDP, Debts Now N872 Million- Trail Newspaper by anonimi: 10:03am On Mar 14, 2016
Hammefeez:
PDP is dead already
Receive sense already grin grin


www.nairaland.com/attachments/3444716_img20160215224419_jpeg3a9d404699eb823dbaa7a23a7e345c55


ShowYourCertificate:
Calabar - The Independent National Electoral Commission (INEC) has declared Etung Williams of the PDP winner of the March 12 re-run poll in Yakurr 11 constituency in Cross River.

A statement by Dame Gesila Khan, the Resident Electoral Commissioner, in Calabar on Sunday said that Williams polled 4 380 votes to prevail over two other candidates in the poll.

Khan said that the APC candidate, Mr Bassey Inah, scored 3 670 votes while Eno Inah of the Labour Party also polled 2 180 votes.

- NAN

http://www.news24.com.ng/Politics/News/pdp-wins-re-run-poll-in-yakurr-11-constituency-in-cross-river-20160313
Ohammadike:
PDP
PDP sweeps Akwa Ibom re-run election
March 13, 2016 at 5:54 pm in News Update FacebookTwitterSMSWhatsApp
….wins one senatorial seat, five state constituencies
The Peoples Democratic Party (PDP), in Akwa Ibom State has won in all the re-run elections held in the state on Saturday, March 12, 2016.
The re-run was held in Akwa Ibom North East Senatorial District (Uyo Senatorial), where Mr. Bassey Albert polled 256, 110 votes to beat his closest rival Mr. Emmanuel Obot of APC who scored 36, 775 and Mr. Ubong Edet of Accord party scored 6, 368 votes.
Also, in the five state constituencies, the PDP won in all. These are Etinan, Ibesikpo/Asutan, Oron/Udung Uko, Itu and Ikot Ekpene/Obot Akara state constituencies.
In Etinan, Aniefiok Dennis of the PDP, polled 10,977 votes to defeat his closest rival Unyime Ekwere of APC who scored 1,780 votes; while Sunday Akpan of Accord and Nse Ubeh of Labour party scored 26 and 29 votes respectively.
In Ibesikpo/Asutan, Aniekan Uko of the PDP won with a total votes of 10, 288, his APC contender, Mr. Gabriel Akpan scored 1,955 votes; while Utibe John of Accord Party and Linda Sunday of PPA scored 13 and
12 votes respectively.
The situation was not different in Oron/Udung Uko where the candidate of the PDP Effiong Bassey won with 7,625 votes beating the Labour Party candidate Mr. Jerimah Okon who scored 17 votes. In Itu, the candidate of the PDP Mr. Idongesit Ituan of the PDP polled 12, 043 votes to beat Idongesit Ekpaya of the APC who scored 2, 938.
The Ikot Ekpene/Obot Akara situation was not different as the PDP continued in its winning spree as it candidate Mr. Idongesit Ntekpere scored 23, 900 votes to beat his closest rival of the APC Mr. Augustine Mbeh of APC who polled 2,428 votes.
In a statement, issued by the state Resident Electoral Commissioner, Dr. Gabriel Ada, he said the election was conducted in a peaceful and orderly manner, saying that, the commission is grateful to the people
of the state.
According to him, the Certificates of Return shall be issued by the commission according to the law.
http://thenationonlineng.net/pdp-sweeps-akwa-ibom-re-run-election/
Elose11:
The candidate of the People’s Democratic Party, Senator Mao Ohuabunwa, won four out of the five local government areas of the re-run election in the Abia North Senatorial election. He recorded over 26, 000 votes and was cruising to victory until the result of Bende local government, won by former governor of the state and candidate of the Progressives Peoples Alliance, PPA, Orji Uzor Kalu significantly reduced his lead. Orji Kalu is from Bende LGA and came second with over 25, 000 votes. Dr. David Onuoha-Bourdex of the All Progressives Grand Alliance, APGA, came third with a total votes of over 13, 000. Nnenna Nma Lancaster-Okoro of the All Progressives Congress, APC, scored a total of 916 votes, coming a distant fourth. The cancelled votes which is over 26, 000 is far higher than the margin of 195 votes between the Senator Mao and Chief Kalu, indicating that the election might be declared inconclusive by the Independent National Electoral Commission, INEC. The election took place in 808 polling units of 57 wards in five LGs. Final result as collated PDP 26009 PPA 25814 APGA 13633 APC 916

Read more at: http://www.vanguardngr.com/2016/03/617409/
Re: Financial Crisis Hits PDP, Debts Now N872 Million- Trail Newspaper by anonimi: 10:05am On Mar 14, 2016
Re: Financial Crisis Hits PDP, Debts Now N872 Million- Trail Newspaper by Abugab(m): 10:09am On Mar 14, 2016
Their problems never start......
Na die dem dey so
Re: Financial Crisis Hits PDP, Debts Now N872 Million- Trail Newspaper by lonelydora: 10:37am On Mar 14, 2016
And what happened to the launching where people donated large sum of money before election?
Re: Financial Crisis Hits PDP, Debts Now N872 Million- Trail Newspaper by babafirst(m): 10:39am On Mar 14, 2016
Na lie,PDP can never be broke,as long as the party still has funds to sustain ekpas on social media they can never be broke.
Re: Financial Crisis Hits PDP, Debts Now N872 Million- Trail Newspaper by TOPCRUISE(m): 10:42am On Mar 14, 2016
METUH WILL BAIL THEM OUT. THEY SHOULD GO AND MEET HIM SINCE EFCC HAS UNCOVERED HIS CAN OF WORMS
Re: Financial Crisis Hits PDP, Debts Now N872 Million- Trail Newspaper by dvee2: 10:42am On Mar 14, 2016
TippyTop:
It started with APC, that's why they're fighting to take over Rivers State
At least Buhari did not steal Nigerians money and gave it to his party, he told them boldly to look inwards and set up a mechanism on how to generate their own money. unlike one "ineffectual buffon".
Re: Financial Crisis Hits PDP, Debts Now N872 Million- Trail Newspaper by fortune1968: 10:44am On Mar 14, 2016
Bad party .
Re: Financial Crisis Hits PDP, Debts Now N872 Million- Trail Newspaper by pastormellanby: 10:52am On Mar 14, 2016
Truth is bitter, what about the stolen funds, they still get money.
Re: Financial Crisis Hits PDP, Debts Now N872 Million- Trail Newspaper by anonimi: 11:30am On Mar 14, 2016
dvee2:
At least Buhari did not steal Nigerians money and gave it to his party, he told them boldly to look inwards and set up a mechanism on how to generate their own money. unlike one "ineffectual buffon".
Do you know why your saint Buhari, the incorruptible incorrigible man of integrity did NOT reject the stolen funds that were used by Amaechi to dollarise his nomination in December 2014 and subsequent campaign huh


scribble:
https://www.karensperspective.com/wp-content/uploads/2010/03/dollar_rain.jpg



Dollarization Of The APC Primaries: How Amaehi Vanquished Atiku #saibuhari

The blogosphere was inundated with reports of the excessive sharing of dollars at the All Progressives Congress which took place during the latter part of last week.

One APC supporter and Special Adviser to Osun Governor on Environment, BolaIlori had blown the scandal open after he saw the beginning stages of the dollarization in action.

He took to his Facebook page and scribbled, “Crazy things are happening here!!! Some of these cannot represent the change Nigeria is yearning for. Excessive dollarization by one of the aspirants to is to say the least obscene. I have been involved in political process for decades now, I have never witnessed this volume of raw dollarization of party primaries. I only read about this kind of things in PDP primaries. A question been asked by conscientious delegates is that whoever can be giving out between $2000 to $5000 to…delegates certainly does not represent the kind of change Nigerians want…those who contributed to the pauperization of Nigeria now revel in dollarization… majority of Ondo delegates are still standing with Buhari but have been reduced from 85% to 70% within 24 hours…the remaining has gone with dollars ooo.!!!!!”

One has to wonder how Buhari was able to win the primaries in this era of stomach infrastructure where dollars are like the Biblical manna that God sent down from heaven to nourish the Israelites as they made their way to the promised land.

Sources close to the APC with knowledge of the way the Primaries unfolded have revealed that it was Rivers State Governor, Amaechi who flew back to Rivers State and returned to Lagos on Thursday morning with enough dollars to make Benjamin Franklin blush.

It has been revealed that Atiku offered the delegates $5000 each, but Amaechi doubled it to $10000 a pop. Thus turning the tables in favour of General Buhari.

Since his adventure into the APC, Amaechi has gone out of his way to prove himself a party loyalist, always the first to shoki or azonto at the many events the APC holds, which he himself is usually the chief sponsor.

According to party insiders, Amaechi has overtaken Tinubu as the major financier of the party. One does not need to wonder why he is always at President Jonathan’s throat over misappropriated oil wells or other such business. Anything that diminishes from the State’s coffers will have a ripple effect on his funding budget for the APC.



Joe Francis wrote in from Port Harcourt.


http://www.theheraldng.com/dollarization-apc-primaries-amaehi-vanquished-atiku-saibuhari/
www.nairaland.com/attachments/3483217_amaechidollarisation_jpegb5e0800e024c28f6be3bb816a31e3e74
Re: Financial Crisis Hits PDP, Debts Now N872 Million- Trail Newspaper by Ephemmm: 12:21pm On Mar 14, 2016
[s]
realestworld:
These people don start this fresh week with another lie again!
I fit kill person becos of all these lies o
[/s]

Na lie now, but it could have been a fact if it is PMB is wearing pampers.

Continuu tongue tongue tongue
Re: Financial Crisis Hits PDP, Debts Now N872 Million- Trail Newspaper by Nobody: 4:34pm On Mar 14, 2016
dunkem21:
Good news for Zombies grin
u mean the news is true?!
Re: Financial Crisis Hits PDP, Debts Now N872 Million- Trail Newspaper by ORLAHOLUWA(m): 4:46pm On Mar 14, 2016
See d man front teeth lik rabbit wey dey show for cartoon
Re: Financial Crisis Hits PDP, Debts Now N872 Million- Trail Newspaper by rohaan: 5:41pm On Oct 02, 2019
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Re: Financial Crisis Hits PDP, Debts Now N872 Million- Trail Newspaper by rohaan: 5:25pm On Oct 22, 2019
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Re: Financial Crisis Hits PDP, Debts Now N872 Million- Trail Newspaper by Guestlander: 5:48pm On Oct 22, 2019
Permanently Dead Party.
I am sure they stole their own money.
Re: Financial Crisis Hits PDP, Debts Now N872 Million- Trail Newspaper by rohaan: 7:52pm On Nov 11, 2019
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Re: Financial Crisis Hits PDP, Debts Now N872 Million- Trail Newspaper by Johnnyessence(m): 7:53pm On Nov 11, 2019
willywasco:
All is not well with the Peoples Democratic Party(PDP) that once pride itself as the largest party in African, if its financial reports presented to the new chairman are to be relay on, as the party is not only is in dire need of a financial lifeline , but a bailout of a sort.
The party is in a serious financial crisis to the extent that it is finding it very difficult to meet its obligations, and may not even be able to pay its workers by the end of this month, all no thanks to the precarious financial situation the former ruling party is facing.
According to an internal report of the party’s Finance Directorate, prepared as part of the handover document to the new national chairman, Senator Ali Modu Sheriff, by the director of finance, Chief J.O. Omuya, the party has as at last week, had a very hug debt of not less than N872 million.
The report shows that this debt is as a result of accumulated bills and liabilities that are outstanding, and the party is finding it difficult to offset them.
It gives the breakdown of the indebtedness as follows; bills and other claims that have been awaiting payment from January 1, 2014 to date, as; N12, 487, 160, for utilities and security, just as it says N73, 457, 912 is for staff related issues, while N73, 724,000 is for members of the party’s National Working Committee (NWC), while on the other hand, N37, 049, 715 is what the party owes its contractors. Similarly, legal bills now stands at N30, 750,000, and N232, 138,273 is for other out standings.
Accordingly, the report also noted that the party has not been able to pay properly approved bills that dates back from April 2012 to 2013.
These claims still waiting payment includes; N125, 977,713 for staff related issues, N125,712,740, for NWC expenses it is N125, 977,713, and N79,896,503 is for contractors, N36,350,000, for legal bills, it is N38,608,275, for publicity it is N51,700,000, for congresses, and N29,052,427 for other issues.
However, before April 2012, the party had outstanding payments of N2,064,674 for staff issues, N1,000,000 expenses for NWC members, N23,383,500 was for payment of contractors, N11, 300,000 as legal bills, N21,600,000 for congresses and N79, 949, 750 as others.

Also lamenting the precarious financial situation of the PDP, the report described it as ‘From hand to mouth’, particularly its zone 5 national secretariat, commonly referred to as Wadata House, which was once the most powerful place in the country.
“In recent years, the National Secretariat has been living from hand to mouth and with no well-defined and sustainable means of regular income, safe for the funds realised from the sale of forms in 2014 for the 2015 general elections, which has been expended’’ noted.
The report also quoted the director of finance as lamenting the refusal of state chapters of the party to pay their usual monthly dues, despite approval to this effect since 2009.
It noted that in the year 2009, the party leadership had approved a monthly due of one million naira to be paid by each of its 36 chapters, including the Federal Capital Territory, across the country, for the running of the national secretariat, however, even this due, as noted by the report, states have since stopped paying, thereby compounding the party’s already bad situation.
Part of the report reads: “In 2009, the leadership of our great party decided that each PDP state should contribute a monthly sum of one million naira only for the running of the National Headquarters. For over a year now, the states have stopped making this payment to the national secretariat.”
Despite this indebtedness, the report told Senator Sheriff that the party still operates several small bank accounts that were not active, which the report recommended the closure of most of them.
“the party has over 20 dormant bank accounts with small balances”, hence the Finance Directorate has recommended the closure of most of the accounts.
From the report, shortly before Ali Modu Sheriff took over as chair of the party, in February this year, PDP could only boast of a mere N616,654,205, as both cash and bank balance, while another N8,266,146, remained stocked in some 20 inactive accounts, and another N508,674,108, is held at Sky Bank as a result of litigation.
“as at the close of business on 19th February, 2016, the party’s cash and bank balances stood at N616, 654, 205. It is important to highlight, N8, 266, 143 is held in over 20 dormant bank accounts while N508, 674, 108 held at Skye Bank is currently the subject of litigation for mereva injunction, leaving a paltry sum of N99, 714,954”.
The report said “as at date, outstanding bills, claims and other liabilities that have been passed to the Finance Directorate for payment, but which have not been paid for lack of funds amounted to N872 million.

Source http://nationaltrailonline.com.ng/2016/03/14/financial-crisis-hits-pdp/
fake news from the clueless Apc miscreants.
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