₦airaland Forum

Other than this Emir built a mosque worth 100million ,I still see him as one of most learned northerner,dat is honest and dependable,he talked any dat 20billion dollors But jonathan said there was nothing like dat

Jaymaxxy:
Do you really care about the president?

Do you think that the president cares about you?
If he cared he would be treated here after budgeting so many billions for the Aso Rock clinic instead of running away for treatment in London and leaving us to suffer the consequences of his bad management.


www.nairaland.com/attachments/3900895_tmpfbimg14671496201601359061659_jpeg16b35e0420df707155480a7e11564764


www.nairaland.com/attachments/3420913_head1_jpeg228715075b5beb1ff535a37cebe931c5

Dis man is one of the vagabongs of dis country, the reason he ws raising day false outcry is simple, his tenure is almost over and his chance of working wit GEJ are dim, or hw can one explain his rascality wen spreading moni lavishly few day ago, in kaduna after rising the outcry,


i tend to b correct or else!!!

omenkaLives:
And what did the Grand Commander of Thieves of the Federal Republic of Nigerria do then; SACK HIM!

That is who jonathan was, is, and will always be.

I refuse to be enthralled by the Northerners. A people that have ruled this country more than any other tribe yet nothing to show for it. They are playing ten' ten' on your brains but you don't know. If you say that it's 6yrs of GEJ or 16yrs of PDP that kept us here, you are deluded. The money stole by Abacha and IBB alone puts calculator in error when tried to calculate it yet these parasites don't talk about them only GEJ has been their problem.

Ioannes:
Please just keep reminding them. The average Nigerian's memory capacity isn't as developed as that of the other homosapiens.

We'll need to keep reminding ourselves every week since we all suffer from collective amnesia.

Can we also remind ourselves of this

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)

The FRCN’s report on Sanusi


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/

omenkaLives:
And what did the Grand Commander of Thieves of the Federal Republic of Nigerria do then; SACK HIM!

That is who jonathan was, is, and will always be.

Sacked him because of this =>

anonimi:
Sanusi/CBN/FRCN indictment report continued


(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/

noetic5:
Remember in 2014, mallam Sanusi, the then CBN Gov. raised an alarm the the NNPC didn't remit over 20 billion US Dollars. Well, he just reminded Nigerians informing us the reason why we are in economic crises. Read what he posted on his IG account, below

https://www.instagram.com/p/BQdywTKDndi/?taken-by=sanusilamidosanusi

[img]http://2.bp..com/-cvUt5RBDcm0/WKKfbn0QTPI/AAAAAAAANds/05_JWN0Ux8UZp8QTyaqW4j-DgqyOHet2wCLcB/s400/re.jpeg[/img]


[img]http://2.bp..com/-M-1glDgYiuM/WKKfj3VqvWI/AAAAAAAANdw/cG6wHLNzdDY_KZE5zpOtKJuecDxXCLQWQCLcB/s400/re.jpeg[/img]


Source: http://www.latestamebonaija.com/2017/02/emir-sanusi-reminds-nigerians-of-alarm.html

Yes, Mr. Emir, we remember that and we say a big THANK YOU...but no whistleblower money for you, because it's very suspicious this one you are stylishly reminding us now that people are starting to collect whistleblower money from the FG

EmperorTech:
You re corrupt!

Would've reported you for breaking rule 2, but saw you use moniker to hawk phone batteries & accessories to pay your rent and pitied your condition.

wayne4loan:
Under massive looting this same economy was the best in africa .... Who is fooling who?

That if you understand at all what you mean. But you don't, you wouldn't make them

wayne4loan:
Under massive looting this same economy was the best in africa .... Who is fooling who?

Go back and read the report, this time, slowly.

Gej was a fiasco!
Pmb is a disaster!
Both are bereft of managerial acumen.
I'm looking out for a fresh ''presidential material''

ddippset:
that is playing to the gallery. even if it was 1billion dollars money was looted. how could he even be sure when a lot of crude is stolen in this country.

Nobody queried that, looting is still ongoing till date, the scale may vary.

As an economist, Sanusi should have known the process, call for an audit (both internal & external), raise your figure and make your allegation based on an audited report.
Till date, Sanusi's allegations are still NOT substantiated, even with an opposition party in power.

He (Sanusi) said it... But some of us never took him seriously. I was at that time very indifferent about his findings.

This country needs deliverance.
Father Lord, deliver naija like u delivered isreal from their oppressors.

apoti:
And I remember GEJ shouting "it's not possible that America will know if that amount goes missing"

Choi, u beat me to that. Ur memory dey very sharp. He actually said; since the Dollar is US currency, they should be aware of the missing $20b. And that is a PhD holder.

when you speak the truth in this country, people will turn you down and by the time the truth is revealed they will say yes o, will hard about this o. we the youth need to wake up and stand for what is right if not this set of people will keep fooling us the more....

The only visible difference between Buhari supporters and Jonathan supporters is that Buhari's supporters are open to criticism, they don't hail bullshit, they are ready to condemn unpleasant practices of his administration and also ready to get him out of there if by 2019 he has nothing credible to show for his four years in office, but Jonathan supported are the opposite of all this, they Celebrate failure and hail bullshit. I hail the likes of JJ omojuwa, sowore and others who fought for change and irrespective of that fact still criticize the same government they put in power when they err.

luvinhubby:
Would've reported you for breaking rule 2, but saw you use moniker to hawk phone batteries & accessories to pay your rent and pitied your condition.

What a pity!

Imoy:
OK, now we are in recession, no thanks to d otuoke dullard who saw stealing as not corruption.

What is the way forward? Or do we continue to blame the previous administration? tell dem to get to work, gej is no longer in power.

We've known the cause of our problem, now we want solution.

Otuoke dullard? I have never read of that before. Daura President? Countless time.

wayne4loan:
Under massive looting this same economy was the best in africa .... Who is fooling who?

Biggest economy on paper! The facts which we can't wish away are:

1. For the last 9 months of GEJ, FG borrowed to pay civil servants' salaries as revealed by NOI, the finance minister as she then was.

2. Under GEJ, most states became insolvent, to the extent that most states could not pay staff salaries.

In the face of this indubitable facts, i ask, who did "being the largest economy in africa" epp?

anonimi:
The dullard is already killing us with recession.
Rather than fix it, he ran away to London for treatment.


www.nairaland.com/attachments/3747642_3745850fbimg1463927936602jpeg8173f300eff5e836ee925373615edada_jpegeaf9c8fbc7a78ee96d89f367b1820960


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


www.nairaland.com/attachments/2065934_image_jpeg9f360c5ab7736510df54c882e9dbf188

You should cry more on those who looted your future

luvinhubby:
A lot of senseless ramblings going on around these days.

A CBN governor who was not sure what he was looking for, $48, $20, or $12 billion.

Thank you.

I remember when he said it was 49 billion and people said that wasn't possible, which caused him to continually revise that figure downwards - one day he said it was $20 billion; on another day he said it was $12 billion; and on the third day he claimed $2 billion. It came to the point where KMPG did an audit and found nothing was missing and Sanusi was talking nonsense.

when the learned are pointing this issue of 2014 NNPC Crude Oil $20billion unremitted fund their think the CBN Gov then he is playing with politics this lead to the call by illiterate to sack him, what ever go up, surely most come down due the force of gravity ...trust

adem30:
You should cry more on those who looted your future

Like these ones below


www.nairaland.com/attachments/2831519_stealingamaechi_jpegad74e2c90a1a5fd1bd932c3319614bc3


www.nairaland.com/attachments/2026536_image_jpeg9f360c5ab7736510df54c882e9dbf188


www.nairaland.com/attachments/2151923_10959780101527066886056781674305683697845804n_jpeg88571234fc99d5765ef94ba8883de888

venai:
Otuoke dullard? I have never read of that before. Daura President? Countless time.

Nairaland modes, stop editting my words pls. Allow me to express my mind. Otuoke dullard was left unchanged. So why must you change Daura President to Daura president? Pls i amnot one of those that insult their president. But my text was to send a message to the person that i quoted.

Saintp:
You better mind what you are saying because some fingers are also pointing at you.
The difference between you and those iPod yoots is that you support different criminals.
IPod have criminals they support while you also have some criminals you support, so you are no different from them.

I support no fucking criminal mahn..

ddippset:
Sanusi warned in 2014, Ngozi was borrowing to pay salaries in 2015, Avengers started blowing up the whole place in 2016. But they want to heap all the problems on Buhari s head. God will give Baba health, strength and guidance to lead Nigeria till 2019 and even 2023 if He wills, Amen!

The zombies said Baba will use body language odour to kill all the militants.
Has that also changed

egift:
This is a man who understands exactly what to do. Has a track record of victories. And has the political will to keep Nigerians safe across the Federation.

Kidnapper, Terrorists, Militants, Arm Rubbers, Criminals - find something legitimate to do with your life. The next President of Nigeria is NOT into Military-Costume-Wearing. He is a Retired Major General. Trained in Nigeria, India, United Kingdom and the United States. He is an over performer. He is not shy of the Facts. Our Senior Military Commanders will not eat Military budget and clean mouth under his watch.

Don't mind those that tell you that Nigeria Cannot be Changed. That things can't be better. They just want to keep looting. When they exhaust their lies, they will start mocking, insulting and posting cartoons.

While PDP are hoping to rig themselves in, Buhari and the entire APC team believe you have the capacity to elect Buhari with your votes alone. Let see who wins (PDP Rigging vs The Votes of the Masses).

This Change is Unstoppable. Sai Buhari. 5days to go!

https://dailymail.com.ng/wp-content/uploads/2014/12/1509004_10152949193694640_5036253621963433759_n.jpg

kabrud:
Choi, u beat me to that. Ur memory dey very sharp. He actually said; since the Dollar is US currency, they should be aware of the missing $20b. And that is a PhD holder.

That argument makes absolutely no sense.

Mexican drug dealers hold billions in USD that the American government knows nothing.

luvinhubby:
Nobody queried that, looting is still ongoing till date, the scale may vary.

As an economist, Sanusi should have known the process, call for an audit (both internal & external), raise your figure and make your allegation based on an audited report.
Till date, Sanusi's allegations are still NOT substantiated, even with an opposition party in power.

whatever! he may have gotten it wrong the way he layed his allegations. but that doesn't matter now. because by benefit of hindsight sanusi has been vindicated. even a baby in the womb now knows today that billions were actually looted.

anonimi:
The zombies said Baba will use body language odour to kill all the militants.
Has that also changed





https://dailymail.com.ng/wp-content/uploads/2014/12/1509004_10152949193694640_5036253621963433759_n.jpg

body language or odour or whatever to kill the militants is very irrelevant to our discuss. the matter on ground is that the avengers had their way and it did cripple the economy.

sekundosekundo:
I refuse to be enthralled by the Northerners. A people that have ruled this country more than any other tribe yet nothing to show for it. They are playing ten' ten' on your brains but you don't know. If you say that it's 6yrs of GEJ or 16yrs of PDP that kept us here, you are deluded. The money stole by Abacha and IBB alone puts calculator in error when tried to calculate it yet these parasites don't talk about them only GEJ has been their problem.

Dont come at me with that idiotic "north against south" bullshiit. These thieves dont discriminate against tribe, religion or region when they congregate to plunder our common wealth. But when it suits their purpose they remind us of our faultlines, and smart-alecs like you who wont alow them to "play ten ten with their brains" buy the trash hook, line and sinker ironically.

ddippset:
body language or odour or whatever to kill the militants is very irrelevant to our discuss. the matter on ground is that the avengers had their way and it did cripple the economy.

Your old soldier promised to deal with them.
Is that promise no longer relevant?
Has that changed


https://s5.postimg.org/qilm94y8n/IMG_20150801_181150.jpg



www.nairaland.com/attachments/2988081_bokooo_jpeg28f847fbbbc67de73e19ab51bfa73476



www.nairaland.com/attachments/2674047_2671101fbimg1435752845837jpeg8fa3e5cefe73fa369d83ff842dcb8396_jpeg_jpeg08705abfd750ea2ff336c659bb1b7a6a