₦airaland Forum

adconline:
Media they're coming for you next!!

ivandragon:
for discerning minds, I hope you can read in between the lines of the statement & see the implied threat...

negative reports of the FG is a breach of national interest.

Enabling Act of 1933

The Enabling Act (German: Ermächtigungsgesetz) was a 1933 Weimar Constitution amendment that gave the German Cabinet – in effect, Chancellor Adolf Hitler – the power to enact laws without the involvement of the Reichstag. It passed in both the Reichstag and Reichsrat on 24 March 1933, and was signed by President Paul von Hindenburg later that day. The act stated that it was to last four years unless renewed by the Reichstag, which occurred twice. The Enabling Act gave Hitler plenary powers. It followed on the heels of the Reichstag Fire Decree, which abolished most civil liberties and transferred state powers to the Reich government. The combined effect of the two laws was to transform Hitler's government into a de facto legal dictatorship.

The formal name of the Enabling Act was Gesetz zur Behebung der Not von Volk und Reich ("Law to Remedy the Distress of People and Reich". It was enacted by the Reichstag (meeting at the Kroll Opera House), where non-Nazi members were surrounded and threatened by members of SA and SS. The Communists had already been repressed and were not able to vote, and some Social Democrats were kept away as well. In the end, nearly all of those present voted for the act, except for the Social Democrats, who voted against it.

More from: https://en.wikipedia.org/wiki/Enabling_Act_of_1933

thunder74:
Who is fooling who now? Once beating twice shy. I will take this government serious if by November the raids did not affect appointment of the person already nominated for the office of CJN.

effty:
He is a prisoner due to his own inherent stupidity.

Abeymills:
All dis nonsence has not reduced high cost of living food stuff increasing on a daily basis loss of jobs etc

anonimi:
https://i.imgur.com/EWCM3Vr.jpg?1

https://i.imgur.com/djLfDH2.jpg?1

https://i.imgur.com/0kxC9ZR.jpg?1

https://i.imgur.com/gvYryst.jpg?1

https://i.imgur.com/Xh9nZa5.jpg?1

https://i.imgur.com/e69nGe8.jpg?1

https://i.imgur.com/QsxNdJU.jpg?1

Ahmedhussain3463:
e will die their by God grace

Ikwokrikwo:
A clamp down on the media is brewing. That is all this statement says. Nigeria is in trouble.

thunder74:
If found guilty, he should not but not the kind of media trials we see with this government. With all the dollar allegedly recovered from Dasuki, what came out of it? The government is even scared of coming to prove their case in court while the accused said he is ready.
Government should not just tag people or fool us with fight against corruption when they have hidden agenda.
Assuming the judges are politicians, government would have said they shared from Dasuki arms money.

anonimi:
Our leader looter does not care.
As long as he gets re-elected in 2019, we can all DIE of hunger.





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ISTANDWITHBUHAR:
hahha i i just always laugh when ever i read all this your posting, But you forget to tell us how much is Crude oil per barrel under GEJ and under Buhari..

Iamdipson:
It seems the due process has not been working!

saintdennis:
Bros even that singapore they keep hyping had to root out useless elements and their leader was accused of same thing.

Abi we wan talk china own?

Even the US made alotta socialist american leaders disappear.


My only problem is who will replace these judges? Hope they're not replacing corruption with corruption

anonimi:
You can tell us and your point so I can respond adequately and appropriately.
Deal

ISTANDWITHBUHAR:
No mind most of them shouting about due process and rule of law, Where are they when those judges are granting bail to looters? And they will be the ones to come here and started shouting who has he jail ever since the fight against corruption started..

PMB just have to take the bull by the horn..

to hell with due process, To hell with rule of law.

ISTANDWITHBUHAR:
Under GEJ crude was sold nothing less than $100, But now it's less than $40 per barrel have you ever loot into that?

FG, States, LGs Share N568.4 Billion for Oct
15 NOVEMBER 2013


https://cdn.pmnewsnigeria.com/wp-content/uploads/2015/04/Ngozi-Okonjo-Iweala-.jpg



Also, $1billion was proposed for distribution to complement shortfall in expected revenue." The $1billion is a compromise by the FG over its words in September not to augment shortfalls anymore.

Responding to the presentation, the chairman of the States Commissioners of Finance and Ebonyi State Commissioner of Finance, Mr Timothy Odaah, lamented that the statutory allocation was getting smaller and smaller. "It appears this is the worst in terms of returns. This is the least in allocations as far as this year is concerned. We are mourning the dearth of funds and this is a wakeup call for states and local governments to buoy up their internally generated revenue."

While appreciating the "magnanimity" of President Goodluck Jonathan to approve the $1billion from the excess crude account and to be shared among the federal, state and local governments, Odaah expressed disappointment with the returns made by the NNPC.

He said that [size=14pt]the states had requested for $2bn[/size] to complement for the shortfall in revenue but got only $1billion. In September, Odaah and fellow commissioners had walked out of the Accountant General of the Federation (AGF) when the federal government said that the framework of the 2013 budget was no longer realistic and it won't augment shortfall in revenue. Odaah raised issues with the statutory allocations of previous months.

More from: http://allafrica.com/stories/201311150323.html

dollydolly:
This statement shows that in the very near future, we will no longer be free to express our personal opinion on this platform. Interesting...

givaunchy:
Honestly, Nigerians will never cease to amaze me. We fight so hard for these rich and big men who don't really know or care about us. People saying the judges should have been arrested with dignity, why were they arrested at night, blah blah blah, will never say the same thing if these were ordinary Nigerians suspected of taking 500,000 Naira bribe. For crying out loud, should we be more concerned about a door or a gate, or whether the man was arrested at 2pm or 1am? These should be the least of our worries! We have been so brainwashed by the elite and some sections of the media that we refuse to think deeply. We would rather come to the defense of the elite even when what we're doing is hurting our own future and the futures of our children. Do we as ordinary Nigerians get any form of justice from our judiciary?

We have come to the point in the life of our country where we need to decide if we want corruption to thrive or be kept at a minimum (admitting that it cannot be totally eradicated). We can't have it both ways. We can't eat our cakes and have it. We can't come here and curse to the high heavens whenever news breaks that someone has collected a humongous amount of bribe or committed some other financial crime, then turn around to start crying foul when that same individual is arrested. We shouldn't hang around here and curse when a judge sentences a man who steals 5,000 Naira to 10yrs imprisonment and another judge tells a man who embezzles 75 million Naira to pay a 2 million Naira fine. We need to realize there is something terribly wrong. We need to think. Nigerians Think!!!

Teensway:
Oga, i never knew you were a NLer.

anonimi:
Was that before 2013 when the 36 states were asking for ECA to be shared due to FALLING oil prices or before 2014 when Barawo Rogue Fashole asked that fuel price should be slashed
Why do you Association of ProgreTHIEF Criminals, APC supporters like telling LIES just as your leaders looters do?
Why






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post=50076926:
By Emmanuel Aziken, Political Editor


Erstwhile Minister of Finance, Dr. Ngozi Okonjo-Iweala, has blamed the country’s present economic situation on the zero political will of the immediate past government to save for the rainy day. Speaking, yesterday, at the George Washington University, Washington D.C. Okonjo-Iweala said the Goodluck Jonathan administration differed seriously from the Olusegun Obasanjo administration under whose administration the Nigeria government saved $22 billion, which she said, helped to cushion the dryness that came the way of the country at the end of the last decade. Okonjo-Iweala served as finance minister under President Obasanjo between 2003 and 2006 and again under President Jonathan between 2011 and 2015. The former finance minister and World Bank president, who spoke on “inequality, growth and resilience,” with Chile as an example of a country with a saving culture, was quoted by The Cable, an online news medium, to have said: *Finance Minister, Ngozi-Okonjo-Iweala *Ngozi-Okonjo-Iweala “We tried it in Nigeria, we put in an oil price based fiscal rule in 2004 and it worked very well. “We saved $22 billion because the political will to do it was there. And when the 2008 /2009 crisis came, we were able to draw on those savings precisely to issue about a five per cent of GDP fiscal stimulus to the economy, and we never had to come to the Bank or the Fund. “This time around and this is the key now, you need not only to have the instrument, but you also need the political will. In my second time as a finance minister, from 2011 to 2015, we had the instrument, we had the means, we had done it before, but zero political will. “So we were not able to save when we should have. That is why you find that Nigeria is now in the situation it is in. Along with so many other countries. “That is the question that I ask, what do we need to do to these countries to save over a period of long accelerated growth. “We need to devise mechanisms not just that are good technically but find a way to either embed them in the constitution or find a way to separate them from the political manipulation so that these countries can survive over time. “To build resilience, African countries need tools, mechanisms and it is doable and we need to interrogate ourselves why we have not done it.” The Cable further quoted her as saying that manufacturing was also critical to growth in Nigeria and the rest of Africa as she was reported to have said that manufacturing represented just 11 per cent of GDP in Africa. “I do not believe that we can be resilient, except if we can encourage manufacturing even on the goods we consume, services, entertainment industry, agriculture. “I think these are the kinds of questions that policy makers struggle with on a daily basis and that is what we are going to answer to get resilience. “If we don’t get these mechanisms, we politicise them, find ways to transform the base of the economy and create jobs including in manufacturing, I believe we are going to go into this looming deceleration that is being talked about.”

Read more at: http://www.vanguardngr.com/2016/04/nigeria-had-no-political-will-to-save-under-jonathan-okonjo-iweala/

ISTANDWITHBUHAR:
How about this that was said by the then finance minister.

anonimi:
When was minimum wage increased to N18,000 from N7,500?

bakila:
Is that a plea or jest? If you want to joke with you Christmas period na you sabi. Nairaland has over one million members and over two million visitors.

ISTANDWITHBUHAR:
Oga that was in 2011 and GEJ used that to cajole workers so as to vote for him, And what happen after that?

Teensway:
those statistics are not correct sir

anonimi:
You must be talking of the fake promises used by Buhari and the Association of ProgreTHIEF Criminals, APC to make their zombies vote for them last year, right



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ISTANDWITHBUHAR:
$20billion was missed

barcanista:
Since I was born, I have never witness the kind of hypocrisy, double standard and demonisation that is currently perpetrated by Muhammadu Buhari, the APC, Alhaji Sanusi, Osinbajo and their "good governance crusaders" against the person of President Goodluck Jonathan, Allison Madekwe, and other government officials.

Alhajis Buhari and Sanusi and APC have been going about using every platform to talk about a "missing $20b", cheered by their hypocritical followers that pride themselves as good governance crusaders. They have deliberately gone blind over the fraud of CBN under Sanusi as outlined by the Financial Reporting Council of Nigeria report in February 2014.

Sanusi Indicted And Removed For Fraud
According to the report (see below) Sanusi was indicted for Gross Misconduct that bothers on fraud and financial recklessness among other offence. The FRCN subsequently advised Mr President to remove Lamido Sanusi from office for further investigation and probe after the explanation of Sanusi appeared more like a tale and outrightly illogical according to FRCN. The council indicates that the explanation provided by Sanusi is “a clear display of incompetence, nonchalance, fraud, wastefulness, and abuse of due process and deliberate efforts to misrepresent facts on the part of the leadership of the CBN.”

The council advised the President to exercise the powers conferred on him by Section 11(2)(f) of the CBN Act 2007 or invoke Section 11(2)(c) of the said Act “and cause the governor and the deputy governors to cease from holding office in the CBN.”


April 2014: VP-elect Yemi Osibanjo Filed Case To Stop Sanusi Probe
Rather than Sanusi to prove his innocence in court, he filed a case in Federal High Court, Lagos to STOP FRCN and Other Security Agencies from investigating and prosecuting him through three Senior Advocates of Nigeria, Prof. Yemi Osibanjo, Dr. Kanyinsola Ajayi and Kola Awodien.
http://www.theguardianmobile.com/readNewsItem1.php?nid=24587

13 May 2014: Lagos Judge Tshoho Grants Sanusi Prayers
High Court Judge John Tshoho rather than uphold the constitutional powers of FRCN to investigate probe Sanusi, he granted the prayers of Lamido Sanusi and BARRED FRCN from further investigation or probing Sanusi Lamido Sanusi. In his own words...
“Prejudice is very pronounced in the language of that document. The language of the briefing note (transmitted by the FRCN to the presidency) conveys a sense of the defendant desperately goading the presidency to deal with the plaintiff,”
“The plaintiff submitting himself for investigation (by FRCN) is like the cockroach finding itself in the midst of fowls. Such a cockroach cannot be innocent,”.
http://www.tv360nigeria.com/?p=11923

Despite the fact the President Jonathan commissioned PWC to audit NNPC books to ascertain the veracity or otherwise of Sanusi's claim, Buhari, APC, Sanusi and their online agents that parade themselves as good governance and anticorruption apostles have been crying blue murder but refused to comment on the FRCN report nor the APC's VP elect role in shielding Sanusi for probe.

April 26, 2015: Buhari's Display of Hypocrisy
In his usual hypocrisy, General Buahri vowed to re-visit the $20b allegation but said NOTHING about the FRCN report. In his own word... “Imagine a situation where the former CBN governor who by God ‘s grace would later become the  Emir of Kano raised an  issue of missing billions of money, not in Naira but in Dollars, $20 billion.
“What happened, instead of investigating to know whether it was true that the money was missing or not, they simply found a reason to remove him. So these are the issues we are talking about…"
Contrary to the lies of Alhaji Buhari, Sanusi wasn't removed because he raised alarm, he was removed because he was indicted by FRCN. Jonathan also never kept mute, he commissioned PWC to audit the books. Buhari was also blind to talk about prosecuting Sanusi for the CBN fraud. Perhaps the Emir is as "incorruptible" as him(Buhari)

anonimi:
[size=14pt]Sanusi/CBN/FRCN indictment report continued[/size]


(C) Available information indicates that the Central Bank has over the years engaged in procurement of goods, works and services worth billions of Naira each year without complying with the express provisions of the PPA.

(D) By deliberately refusing to be bound by the provisions of the Act, the CBN has not only decided to act in an unlawful manner, but has also persisted in promoting a governance regime characterised by financial recklessness, waste and impunity, as demonstrated by the contents of its 2012 Financial Statements.

Unlawful expenditure by the Central Bank of Nigeria on ‘Intervention Projects’ across the country

(A) the unacceptable level of financial recklessness displayed by the leadership of the Central Bank of Nigeria is typified by the execution of ‘Intervention Projects’ across the country. From available information, the bank has either executed or is currently executing about 63 such projects across the country and has committed over N163billion on them.

(B) it is inexcusable and patently unlawful for any agency of government to deploy huge sums of money as the CBN has done in this case, without appropriation and outside CBN’s statutory mandate. It is trite that the expenditure of public funds by any organ of government must be based on clear legal mandates, prudent costing and overriding national interest.

Financial infractions and acts of financial recklessness committed by the Central Bank as reflected in its audited financial statements of 2012

(A) pursuant to Section 50 of the CBN Act 2007, a copy of the audited financial statements of the CBN for the year ended 31st December 2012 was sent to Mr. President. Based on the issues raised in the financial statement, a reaction was requested from you to enable a proper appreciation of the nation’s economic outlook.

(B) the response to this query was further referred to the Financial Reporting Council of Nigeria. The review by the council, rather than allay the fears of government, further confirmed concern bout the untidy manner in which you have generally conducted the operations of the CBN.

Some of the salient observations arising from the review are;

(A) in a most ironical manner, it has become obvious that the CBN is not able to prepare its financial statements using applicable International Financial Reporting Standards (IFFS) whereas Deposit Money Banks that the CBN is supervising have complied with this national requirement since 2012.

Undoubtedly, this laxity on the part of our apex bank, apart from calling to question its capacity for proper corporate governance, is capable of sending wrong signals to both domestic and international investors on the state of the Nigerian economy.

(B) the provisions of the Memorandum of Understanding (MOU) signed by the CBN and other Deposit Money Banks on Banking Resolution Sinking Fund have been breached in a material manner. For example, a Board of Trustees (BOT) to manage the Fund has not been constituted since 2010 when it was established. The CBN has however continued to utilise the Fund for certain operations without approval of the said BOT.

(C) contrary to section 34 (b) of the CBN Act 2007 which provides that the CBN shall not, except as provided in Section 31 of the Act, inter alia, purchase the shares of any corporation of company, unless an entity set up by the approval or authority of the Federal Government,m CBN in 2010, acquired 7% shares of International Islamic Management Corporation of Malaysia to the tune of N0.743 billion. This transaction was neither brought to Mr. President’s attention nor was a board approval obtained before it was entered into.

(D) the CBN has failed or refused to implement the provisions of the Personal Income Tax (Amendment) Act 2007. Accordingly the Pay-As-You-Earn (PAYE) deductions of its staff are still being computed in accordance with the defunct Personal Income Tax Act 2004, thus effectively assisting its staff to evade tax despite the generous wage package in the CBN, relative to other sectors of the economy.

(E) the CBN had an additional brought forward to General Reserve Fund of N16.031bn in 2012 but proceeded on a boy age of indefensible expenses in 2012 characterised by inexplicable increases in some heads of expenditure during the year. Examples include:

1. The bank spent N3.086bn on “promotional activities” in 2012 (up from N1.084bn in 2011). The bank spent this sum even when it is not in competition with any other institution in Nigeria;

2. The CBN claimed to have expended N20.202bn on ‘Legal and Professional Fees’ in 2011 beyond all reasonable standards of prudence and accountability;

3. Between expenses on ‘Private Guards’ and ‘Lunch for Policemen’, the CBN claimed to have spent N1.257 billion in 2012;

4. While Section 6(3)(c) of the CBN Act 2007 provides that the board of the CBN is to make recommendations to Mr. President on the rate of renumeration to Auditors, the bank has consistently observed this provision in breach and even went to the extent of changing one of the Joint External Auditors without notifying the office of the President.

5. In the explanations offered by the CBN pursuant to presidential directives, it offered a breakdown of ‘Currency Issue Expenses’ for 2011 and 2012. Interestingly, it claimed to have paid N38.233bn to the Nigerian Security Printing and Minting. Company Limited (NSPMC) in 2011 for ‘Printing of Banknotes.’ Paradoxically however, in the same 2011, NSPMC reported a total turnover of N29.370bn for all its transactions with all clients (including the CBN).

6. It is significant to note that the external audit revealed balances of sundry foreign currencies without physical stock of foreign currencies in the CBN Head Office.

Questionable write-off of N40bn loans of a bank

The above issues are only a few of the infractions highlighted by the review and which point to the gross incompetence and recklessness which characterised the operations of the CBN in the period under review.

However, the CBN also claimed that it paid Air Charter, such as payments to Emirate Airline (N0.511bn), Wing Airline (N0.425bn) and Associated Airline (N1.025bn) to distribute currency by air nationwide. Emirate Airline does not fly local charter in Nigeria, Wing Airline is not registered with Nigeria Civil Aviation Authority and Associated Airline does not have a billion turnover for 2011 because upon enquiry, the management claimed that they have no financial statements and have not had any significant operations for the past two years that will warrant preparation of financial statements.

The breakdown also include “Currency Issue Expenses” of N1.158bn and Sundry Currency charges of N1.678bn under “Currency Issue Expenses.” As they are in 2011 so are similar expenses in 2012. These are difficult to understand.

Other areas of fraudulent activities include

1. Facility Management N7.034bn in 2012 (N5.751bn in 2011.

2. Foreign Bank accounts that have been closed offshore were still operational in the General Ledger for over six months after they have been confirmed as closed accounts by the offshore banks.

3. The “Know Your Customer” policy is not properly followed by the CBN to the extent that the CBN has unknown customer with account balance of N1.423bn since 2008. The CBN claim that it is taking steps to obtain the required details regarding the address of the customer.

Wastefulness

1. Training and travel expenses N9.24bn in 2012 up from N7.65bn in 2011.

2. Expenses on “ATM offsite policy change” came to N1.045bn.

3. Expenses on “Non Interest Banking” N1.359bn in 2012 up from N0.977bn in 2011.

The CBN is still very heavy on expenses on “Project Eagles” spending N0.606bn in 2012 up from N63m in 2011.

Expense on newspapers, books and periodicals (excluding CBN’s publications) is N1.678 billion in 2012 up from N1.670bn in 2011,


From: http://www.punchng.com/news/the-frcns-report-on-sanusi/

bakila:
OK, with is the correct estimates?

anonimi:
Do you mean-

- was missing?
- went missing?

Is this why you support an illiterate who ran away from his final exams to join the army
As for Sanusi's missing $20 billion, it was part of the scheme to BBOG- Bring Back Our Government (to the north).
It was after he was rightly queried over his FRAUDULENT management of our CBN money. He started singing like a canary bird with changing amounts that he claimed was missing- $90 billion, $50 billion, $20 billion etc.
Only zombies can believe such a dunderhead, surely.





[size=14pt]The FRCN’s report on Sanusi[/size]



[img]https://www.nairaland.com/download/660265[/img]



The decision to suspend the Central Bank of Nigeria Governor, Sanusi Lamido was based on a report of the Financial Reporting Council of Nigeria dated June 7, 2013.

The report was made after a review of Sanusi’s response to the query issued to him by the President over the apex bank’s financial statement of 2012. His response was dated May 20, 2013.

According to a copy of the report obtained by our correspondent on Thursday, the council indicates that the explanation provided by the suspended CBN governor is “a clear display of incompetence, nonchalance, fraud, wastefulness, and abuse of due process and deliberate efforts to misrepresent facts on the part of the leadership of the CBN.”

The council advised the President to exercise the powers conferred on him by Section 11(2)(f) of the CBN Act 2007 or invoke Section 11(2)(c) of the said Act “and cause the governor and the deputy governors to cease from holding office in the CBN.”

The report read: The particulars of the infractions against Sanusi are:

Persistent refusal and/or negligence to comply with the Public Procurement Act in the procurement practices of the Central Bank of Nigeria.

(A) By virtue of Section 15 (1)(a) of the Public Procurement Act, the provisions of the Act are expected to comply to ‘all procurement of goods, works and services carried out by the Federal Government of Nigeria and all procurement entities.’ This definition clearly includes the Central Bank of Nigeria.

(B) It is however regrettable that the Central Bank of Nigeria, under his leadership, has refused and/or neglected to comply with the provisions of the Public Procurement Act (PPA). You will recall that one of the primary reasons for the enactment of the PPA was the need to promote transparency, competitiveness, cost of effectiveness and professionalism in the public sector procurement system.

More from: http://www.punchng.com/news/the-frcns-report-on-sanusi/

Teensway:
IDK but it should be thousands not millions

ISTANDWITHBUHAR:
Your brothers are knwon generally for drug trafficking, Child trafficking, Kidnapping etc.. I can started to imagine how you will react when you children started stealing.