₦airaland Forum

which one be "a powerful aide"?
if she can't call the person's name then she should go and rest....say the persons name or shut up...we Nigerians have passed this stage way back...

Our rep in the financial industry.....i respect ya mama albeit all denigration against you!!!

nairavsdollars:
This froggie eyed woman who superintendend the grave looting of our economy under Jonathan is eyeing something in 2019, probably under PDP. Once you see them talking like parrots or write one jaundiced book, just know something is cooking

I pity ur family.

LordAdamX:
Please, if you guys can't read, don't comment on this thread.

She was referring to a normal power play.

This is the summary:

1. She discovered a $6m/yr loophole
2. She and the Minister of Transport implored GEJ to close the loophole as part of port reforms
3. GEJ closed the loophole
4. A GEJ aide who represented the interests of those benefiting from the loophole asked her to tell GEJ to reverse the decision
5. NOI refused and the aide tried to frustrate her
6. The aide eventually stopped when others told him he'd be in soup if NOI reports to GEJ

As to the question of why say so now?

A: The book is titled "Fighting Corruption is Dangerous." It's meant to chronicle all the opposition she received for fighting corruption. Everyone faces issues in their place of work, this is a memoir of the ones she faced.

She's not campaigning for anyone.

-Lord

But NOI herself is a saint and part perfect?

this is the reason why I hate memoirs from accidental civil servants of el rufai,to obasanjos my watch to China Achebe's there was a country etc

they all contain self glorification, exoneration and lies!

deji17:
Madam ereke ni shobu.... Very corrupt woman

Maka why, anyway true talk jare.
Her cheeks be like those " as e dey hot puff puff.

authority2006:
Sanusi was queried over missing money? Which money was that again? I hope it wasn't the same one Jona was referring to as "America will know".

Please read below.
Cheers.

naija2dabone:
The Financial Council audit report on the Central Bank of Nigeria which led to the suspension of Sanusi Lamido Sanusi from office accused the apex bank management of several financial practices that border on fraud. It said that there is a provision for “Facility Management of N7.034 billion in 2012; N5.751 billion in 2011. A breakdown of these figures reveals that this is

just an expense head where the leadership of the CBN dumps what ordinarily should have been accounted for as their Benefit-in-Kind for tax purposes. A closer look at the breakdown shows that it is just an expense head that is used for fraudulent activities as they have items such as “Profit from sale of Diesel” indicating that the CBN at some point operates in the downstream sector of the Petroleum industry.

sanusi

*CBN Gov Lamido Sanusi

Download the report here

“There are also breakdown such as “Currency issue Expenses” of N1.158 billion and Sundry Currency charges of N1.678 billion under “CURRENCY ISSUE EXPENSES.” As they are in 2011 so are similar expenses in 2012. These are difficult to understand.

The CBN accounts revealed it paid Nigerian Security Printing and Minting Plc N38.233 billion in 2011 for “Printing of Banknotes” whereas the entire Turnover of NSPM Plc Group is N29.370 billion.

“It also therein claimed that it paid Air Charter, such as paid to Emirate Airline N0.511 billion; Wing Airline, N0.425 billion and Associated Airline N1.025 billion 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 turn-over for 2011 because upon inquiry, 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.

“There are also breakdown such as “Currency issue Expenses” of N1.158 billion and Sundry Currency charges of N1.678 billion 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:

“Facility Management N7.034 billion in 2012 N5.751 billion in 2011. A further breakdown of these figures reveals that this is just an expense head where the leadership of the CBN dumps what ordinarily should have been accounted for as their Benefit-in-Kind for tax purposes. A closer look at the breakdown shows that it is just an expense head that is used for fraudulent activities as they have items such as “Profit from sale of Diesel” indicating that the CBN at some point operates in the downstream sector of the Petroleum industry.

“Within the “Administrative expenses” is an item they referred to as “Loan write-off.” This accounts for loans supposedly given to staff and written off thereafter. It came to a total of N3.855 billion in 2012. There is the need to review the Board approval for this loan write off if any.

Within the “Administrative expenses” is an item they referred to as “Fixed Assets Clearing Account.” These are properties acquired by the CBN for which it does not expect to derive future economic benefits.

These properties are written off by the CBN on a yearly basis. This came to N4.076 billion in 2012; up from N1.324 billion in 2011. This should not be mistaken for “Disposal of Fixed Assets Schedule.

The report further said “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. A thorough investigation will reveal how the balances in the now fictitious foreign accounts are treated. It also said that “There are long outstanding invoices that make up the liability account from as far back as 2005. The External Auditors have to request, in their draft management letter, the management or whoever deems it fit to carry out a thorough investigation in this area to ensure items standing in this account are valid invoices.

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

“Real time Gross Settlement Clearing Account, that is supposed to be reconciled on a daily basis, has long standing reconciling items that could not be substantiated. The external audit revealed debit/credit balances of sundry foreign currencies without physical stock of foreign currencies in CBN Head Office account. At no point should one expect to have fictitious Naira balances without the foreign currencies to back them up. It is important to know who is or was with the foreign currencies at the time.

According to the Financial reporting council an organisation that had an additional brought forward to General Reserves Fund of a mere N16.031billion in 2012 could still go ahead to spend uncontrollably in 2012 and in some cases even increase the expenses.

The CBN it said spent on promotional activities; N3.086 billion in 2012 up from N1.084 billion in 2011; even when the CBN does not have a competitor in Nigeria which may require a “fight” over brand and customer size. The figures are too high.

“Expenses on Newspapers, Books and Periodicals excluding CBN’s Publications is N1.678 billion in 2012; up from N1.670 billion in 2011.

The CBN was gracious enough to reduce their “Legal and Professional Fees” from N20. 202 billion in 2011 to N0.460 billion in 2012. What could the CBN have had to spend N20.202 billion on in 2011? They also reduced their “sundries” unexplainable expenses from N1.197 billion in 2011 to N0.690 billion in 2012. One is at a loss why the CBN still carry “unexplainable expenses” and of this magnitude.

“The CBN also magnanimously reduced expenses on “Ethics and Anti-Corruption” from N34 million in 2011 to N18 million in 2012. This is an area that they are supposed to strengthen their activities and unearth unethical and corrupt practices. The CBN preferred to reduce their financing by almost 50 per cent. The CBN, outside the agreed audit fee of N300 million paid to their External Auditors and which was reviewed upward in 2012 from N200 million in 2011, the CBN showed within “Administrative Expenses” that they paid the External Auditors another N140 million.

Section 6 (3c) of the CBN Act, 2007 provides that the Board of the CBN is to make recommendation to Your Excellency on the rate of remuneration to External Auditors. An investigation need to be carried out to know whether the Board secured your approval on this review.

The leadership of the CBN also wrote off loans to the tune of N3,856 billion in 2012. Since this was disclosed in under “Administrative expenses”, it was supposedly made to staff members.

The Council outlined the CBN ff due process and said that “Non compliance with laws and relevant regulatory guidelines could lead to reputational damage for CBN. Examples are: The provisions of the Memorandum of Understanding (MOU) signed by the CBN and other Deposit Money Banks (DMBs) on Banking Resolution Sinking Fund are not being complied with by the CBN.

“A Board of Trustees (BOT) to manage the fund has not been put in place since it was established in 2010. (The BOT is supposed to consist of two representatives of the CBN, the Permanent Secretary of the Ministry of Finance, a representative of the Debt Management Office and five members of the eligible financial institutions. The CBN went ahead to issue the Nigerian Treasury bill investment using part of the money in this banking resolution sinking fund account without the settling up and approval of the said Board of Trustees in accordance with the signed MOU.

“Some parastatals deposit accounts with the CBN have debit or overdrawn positions. This is contrary to government policy on the CBN’s management of parastatals accounts with the CBN. Amongst the MDAs listed by the CBN, with overdrawn positions to which the CBN is now accounting as loan provisioning are Federal Ministry of Science and Technology, Nigeria Deposit Insurance Corporation, Nigerian Security and civil Defense, Ministry of Foreign Affairs and Federal Civil Service Commission. It will be necessary to circularise these MDAs to ascertain the veracity of this claim by the CBN.

oyb:
Queried for stealing money

Another Jonathanian from cloud cuckooland.

Can you share the source of your 'news'

Small wonder

Wonder no more.
Please read below.
Thanks

https://www.nairaland.com/2313405/buhari-sanusi-apc-should-stop

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)

Lamido Sanusi and Stella Oduah
The so-called APC and their praise-singers have never for once called for the revisiting of the FRCN report, oh because it doesn't favor them. Ironically, these people were quick to call for the ouster of Stella Oduah that was indicted for "lesser" offence but demonised Goodluck Jonathan for suspending Sanusi that has lots of indictment on his neck.

Conclusion
Buhari, Sanusi and APC can continue in their hypocritical path of self-deception, but every attempt to twist history, intimidate or demonise Dr. Goodluck Ebelemi Azikiwe Jonathan shall be fully resisted. Since they see nothing wrong in the fraud of CBN under Sanusi of which they are beneficiaries, then they should see nothing wrong in whatever happens in NNPC or any Agency under Jonathan irrespective of whether or not any money is missing.

May God Help Us All...

seguno2:
Wonder no more.
Please read below.
Thanks

https://www.nairaland.com/2313405/buhari-sanusi-apc-should-stop

small wonder


you're like a fellow who was sharing articles from the 'london economist'

you guys are pathetic

straight from the facebook troll farms


peddling illogical fake news with a straight face. i thought at the very least your bs nonsense would be backed by partisan papers like vanguard - but no we have theguardian mobile.com asite which refuses to load, and tv360nigeria

these are links to guardian

https://guardian.ng/
https://www.theguardian.com/international

one has to wonder about the brazen incompetence of Johnathan and those who celebrate him.

the worse part of the bullshit you're posting - the links are not even working/found

shame on you for your pathetic attempt

now you can run with your tail between your legs to the mods and beg them to ban me for insulting you by exposing your shameless partisan lies

oyb:
small wonder

you're like a fellow who was sharing articles from the 'london economist'

you guys are pathetic

straight from the facebook troll farms

peddling illogical fake news with a straight face. i thought at the very least your bs nonsense would be backed by partisan papers like vanguard - but no we have theguardian mobile.com asite which refuses to load, and tv360nigeria

these are links to guardian

https://guardian.ng/
https://www.theguardian.com/international

one has to wonder about the brazen incompetence of Johnathan and those who celebrate him.

the worse part of the bullshit you're posting - the links are not even working/found

shame on you for your pathetic attempt

now you can run with your tail between your legs to the mods and beg them to ban me for insulting you by exposing your shameless partisan lies

From the Premium Times.

UPDATE: How Sanusi floored Nigerian government, FRCN in court
May 12, 2014

“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.”

A Federal High Court in Lagos, Monday, barred the Financial Reporting Council of Nigeria, FRCN, from investigating Lamido Sanusi, the suspended governor of Central Bank of Nigeria, CBN.

https://www.premiumtimesng.com/news/160582-update-sanusi-floored-nigerian-government-frcn-court.html

Throwback:
He never made that statement and I know you cannot show me any proof of that statement besides a headline news. Same for those who claim Buhari promised them $1 to N1, but cannot prove the claim with an actual news excerpt quoting his words, except for bogus headlines.

Buhari's factual statement when accosted by journalist at an anniversary event for abacha that was organized by the Abacha family, was that Abacha was never convicted of stealing.

Many of you will today argue that Buhari is doing media trial with mere accusations without trial and conviction.

I hope you will appreciate the hypocrisy and double standards when it comes to a dead Abacha who we all believe he stole, but we cannot fault Buhari's statement regarding an absence of conviction.

The loot recovered by Obasanjo from Abacha’s bank accounts do not mean convictions? They are mere accusations
Interesting!!!
Truly we deserve Buhari and the other crooked thieves and rogues who are running ruining our country.

seguno2:
From the Premium Times.

this is what you wrote

Which Sanusi?
The one who was queried over stealing money before he was fired and he was running to the court with Osinbajo to stop the investigation
Please don’t talk about what you don’t know. Please!

how does the article tie into your absurd claims?

do you even know the difference between embezzlement and financial recklessness?

or you just like throwing words around

all that article shows is the typical incompetent jona administration trying their luck. is sanusi not vindicated today, while NOI runs around pushing ghostwritten trash trying to exonerate herself from this mess?

You have summarised it all. I was surprised to see an excerpt from the book twisted create misleading headlines. This latest mischief is by one guy campaigning for Apc Nat publicity Secretary. The mischievous post was trending on twitter yesterday. Unfortunately most Nigerians lack basic reading and comprehension skills

LordAdamX:
Please, if you guys can't read, don't comment on this thread.

She was referring to a normal power play.

This is the summary:

1. She discovered a $6m/yr loophole
2. She and the Minister of Transport implored GEJ to close the loophole as part of port reforms
3. GEJ closed the loophole
4. A GEJ aide who represented the interests of those benefiting from the loophole asked her to tell GEJ to reverse the decision
5. NOI refused and the aide tried to frustrate her
6. The aide eventually stopped when others told him he'd be in soup if NOI reports to GEJ

As to the question of why say so now?

A: The book is titled "Fighting Corruption is Dangerous." It's meant to chronicle all the opposition she received for fighting corruption. Everyone faces issues in their place of work, this is a memoir of the ones she faced.

She's not campaigning for anyone.

-Lord

Enice:
lies. Buhari implemented BVN and TSA. GEJ did not have the liver to do it.

Don't be quick to speak like Buhari's advisers

1) I'm sure I had done my BVN before Buhari came in. The BVN was introduced by the CBN February 14th, 2014

https://www.vanguardngr.com/2015/05/bvn-the-banking-public-and-the-june-deadline/

2) Below is a link to article dated January 12, 2015 with a report that the FG saves N500bn through implementation of Single Treasury Account.

Read More https://www.vanguardngr.com/2015/01/fg-saves-n500bn-through-implementation-of-single-treasury-account/

P0intBlank:
Don't be quick to speak like Buhari's advisers

1) I'm sure I had done my BVN before Buhari came in. The BVN was introduced by the CBN February 14th, 2014

https://www.vanguardngr.com/2015/05/bvn-the-banking-public-and-the-june-deadline/

2) Below is a link to article dated January 12, 2015 with a report that the FG saves N500bn through implementation of Single Treasury Account.

Read More https://www.vanguardngr.com/2015/01/fg-saves-n500bn-through-implementation-of-single-treasury-account/

those links are fake

Enice:
those links are fake

SMH

evasive like Buhari

seguno2:
Please read below.
Cheers.

Honestly, did you actually read through what you posted,? I asked this question because after reading through it, I didn't see a specific statement that said so so amount was missing or Sanusi stole so so amount.

P0intBlank:
Don't be quick to speak like Buhari's advisers

1) I'm sure I had done my BVN before Buhari came in. The BVN was introduced by the CBN February 14th, 2014

https://www.vanguardngr.com/2015/05/bvn-the-banking-public-and-the-june-deadline/

2) Below is a link to article dated January 12, 2015 with a report that the FG saves N500bn through implementation of Single Treasury Account.

Read More https://www.vanguardngr.com/2015/01/fg-saves-n500bn-through-implementation-of-single-treasury-account/

Only a deluded person or group of deluded people would say that Jonathan and Okonjo implemented TSA. You guys have no shame telling lies at all! You're showing us links as if we were in the moon when TSA was implemented.

BVN though, I can't remember.

georgecso:
That is why the Daura President will still be my no. 1 choice come 2019.. He got lots of guts to seal up loopholes our so-called hero of democracy could not. The Daura President implemented the TSA and BVN to prevent looters from siphoning our treasury..

Lies!

authority2006:
Only a deluded person or group of deluded people would say that Jonathan and Okonjo implemented TSA. You guys have no shame telling lies at all! You're showing us links as if we were in the moon when TSA was implemented.

BVN though, I can't remember.

1) You can make your point without going into a tirade.

2) I put those links to buttress my point. If you didn't know about TSA before May, 2015, well, some of us were in the know.

3) TSA started before Buhari just the same way the construction of the Abuja-Kaduna railway began before Buhari. That he (Buhari) completed it doesn't mean credit should not be duly given

4) If you read this interview (In the link below, see reply to question: Is corruption more prominent in Africa?) you would see that TSA had been partially implemented before Buhari came into power.

http://sunnewsonline.com/im-done-serving-nigeria-okonjo-iweala/

5) Little advice: some of the things we've been told all our lives are not necessarily true. So please be open minded.