Guestlander:


Is Buhari an investor in the deal? Was he aware or did he approve it?
Is there any evidence linking Buhari to it in any way? I really like to know.

I can't see where Baba Buhari is connected here.

I think Atiku is in pain bcoz they are selling companies he planned to come and buy.

I want to submit that this is stock crime and it should be investigated and punished the culprits

Prof chike obi created AMCON, these abokiis want to destroy it with incompetence.

Even The SEC, BOI are shadows of their former self of less than 5 years ago.

SMH.

Nigerians can't stop to amaze me.Is it that Politics now determine everything without our sense of reasoning and good conscience?where were these Buhari critics when PDP spent 16 years without a single person being probed when Nigeria was being robbed by the ruling party? are we that forgetful?
we are not fazed that the president had spent 3 and half years,we now pour our venoms as if to nail.we know the tricks of the opposition like PDP, de-market the president and everything about him,but such method has failed already. all those who wants to come and rule us through the back-door is too late.God bless Nigeria.

PassingShot:

The worst of PMB is far better than the best of Atiku

Common shut up... Shameless thing

omg!! our collective wealth? that man in amcon should resign before day break or must buhari relation occupy every office in Nigeria?

You're unwise. If you're offended I apologise but it's the truth.

PassingShot:

Saraki is not half of Akpabio. February 16th will prove this fact.

OkunrinOloro:
You mean the same way he nabbed Gandole the Bribe-Seeker?

Nope. Like nyame and dariye...

This is one of the biggest fraud to happen under this present administration,,corruption at its peak,,more bigger than yahoo yahoo,,and Nigerian youths are said to be lazy,,posterity will judge this people,,if heads do not roll

Buhari removed the brilliant chike obi and replaced him with isa funtua's inlaw as head of amcon.

Our present predicament is not far fetched.

They are killing this country.

Jodhar:
So the PDP were saying the truth after all

Yes, it takes a thief to know another thief. However, I'm yet to see Buhari connection in the write up.

PassingShot:

Saraki is not half of Akpabio. February 16th will prove this fact.

You still get mouth to talk after all these horrible exposures? You must be a shameless fool.

Hahahahaha

Who didn't know APC and buhari we're a scam all along? ..

And they said Atiku stole ,ahhhhhhhnh na barawo full Buhari cabinet

PassingShot:

So, the owners are no longer relations of PMB?

You are so shameless.May your be same way Buahri is running this country.

arabbunkum:

You still get mouth to talk after all these horrible exposures? You must be a shameless fool.

These people have no shame.
Their minds are already made up.

Don't bother yourself trying to convince them. Just vote wisely for your future and hope there are more Nigerians who are wise as well.

OkunrinOloro:
Do these people actually have a sense of shame?

See high level thievery and daylight robbery perpetrated in broad dayllight and with the stupid idiotic dullard's full cooperation.

Nobody should believe that this boju boju panel will do anything other than to cover the dullard's lifeless and decaying ass.

i read all the first page comment, I discovered all buhari supporters disappeared like people running from Ebola virus. It's now confirmed buhari is a thief.

PassingShot:

So, the owners are no longer relations of PMB?

Croonies

Then the president will pretend he's not aware.
Shame on mr integrity..

Tareq1105:



How does Buhari come in here?

If the story is true then those involved should be treated like criminals that they are including Cbn governor if culpable.

How many close friends of PMB n cabinet members accused of corruption has Buhari dealt with n treated like criminals

Continue deceiving urself there!

With the way defense funds are spent n gallant soldiers left without adequate weapons in war front, isn't obvious to u that there's massive corruption n failure of intelligence in nig military
What has PMB done to/with service chiefs??

Who does not know that Buhari is a scam and his so called fight against corruption a sham?

I only hope that they won't sweep the issue under the carpet as usual.

ochejoseph:
Why Bank Customers Are Making Panic Withdrawals…

Following the controversy generated by the leading opposition party, the People’s Democratic party, PDP, over the alleged acquisition of Keystone bank and Etisalat by Alhaji Isa Funtua and the CEO of AMCON, Ahmed Kuru, President Mhammadu Buhari has ordered probe into the alleged fraud.

A highly placed source at the headquarters of the Economic and financial crimes Commission, EFCC yesterday told daybreak that the President was thoroughly embarrassed with the allegations linking him to the transactions.

According to the source, a discrete panel will be set up soon comprising of the Chairman of the EFCC, representative of the DSS, ICPC, federal ministry of Justice to look into the allegations.

The source further added that, both Isa Funtua, Ahmed Kuru, the governor of the central bank of Nigeria, CBN, Chief Godwin Emefiele and management Staff of the Keystone Bank and 9Mobile will be quizzed by the operatives of the EFCC for some interactions.

Recently, a mindboggling scandal broke out to public knowledge about how Keystone Bank and 9Mobile were acquired in controversial circumstances by the business interests of one Alhaji Isa Funtua, a close friend of President Muhammadu Buhari, via the instrumentality of Asset Management Corporation of Nigeria (AMCON).

The PDP challenged the federal government to come out clean on what could be a serious dent on its anti-corruption stance, there is indeed no smoke without fire.

The leading opposition party also confirmed fact that the son-in-law of Isa Funtua, Ahmed Kuru, is the current CEO of AMCON.

Before him, the previous CEO, Chike Obi, was a first-class gentleman and technocrat who was strangely removed from office before the expiration of his term and was replaced with Kuru, the son-in-law of Isa Funtua.

Now, let us get into the insider details of how Funtua bought Keystone Bank and 9Mobile in the most bizarre of dealings that circumvent the laws of the land. Keystone Bank was sold by the current CEO of AMCON to his father-in-law, Funtua, without any AMCON Board’s approval and with the active connivance of CBN and NDIC at a grossly undervalued price of 25 Billion Naira. To put things in context, let us recall that Enterprise Bank was sold for over 60 Billion Naira and Mainstreet Bank was sold for over 100 Billion Naira under the former CEO of AMCON.

Before the sale of Keystone Bank to Isa Funtua, all bad debts in the books of the Bank were taken over by AMCON. So, it was a clean Bank with all the Assets and no Liabilities that was sold to the Buyers.

The Executive Management of AMCON was coerced into approving the transaction and those who were willing to submit a much higher bid were disqualified under a most opaque, suspicious process that lacks all transparency. The process was just manipulated in favour of the father-in-law of the AMCON CEO.

The Corrupt Payment for Keystone Bank The most disgusting part of the entire sale of Keystone Bank is how the 25 Billion Naira sales price was paid to AMCON.

The Isa Funtua Team paid 5 Billion Naira to AMCON, and then the balance of 20 Billion Naira was later paid through the most criminal and corrupt approach ever perpetrated by AMCON in favour of the Buyer. What happened was that AMCON moved 20 Billion Naira of their own funds as a fixed deposit at GTBank to Heritage Bank. Heritage Bank then paid the 20 Billion Naira on behalf of the Funtua Group to AMCON. In other words, AMCON used their own funds as a collateral for a loan to the Funtua Group for 20 Billion Naira!

When the Funtua Group took over Keystone Bank, they went borrowing immediately at the Interbank Market for 20 Billion Naira to refund AMCON’s funds. This has left a hole in Keystone Bank’s Balance Sheet and makes the Bank one of the most undercapitalized Banks in the Country as at today. The evidence of this highly compromised acquisition process can be obtained from the current and former staff of AMCON, from NDIC, CBN and from the current staff of Keystone Bank itself.

Another suspicious acquisition scandal surrounding the Funtua Group is about the untidy way 9-Mobile, formerly known as Etisalat, was bought. It is Mr. Adrian Wood of Teleology Holdings, a very sound telecoms professional, who collaborated with the Funtua Group for the acquisition of 9-Mobile.

The problem with their bid was the lack of a qualified Operator to support the bid which was one of the minimum conditions of NCC. Adrian Wood alone was not a substitute for an Operator.

The Nigerian Communications Commission (NCC) gave several conditions that must be met by the Ultimate Buyer of 9-Mobile to ensure the protection of shareholders value, prevent loss of jobs, protect the telecoms industry from slipping into a crisis and ensure transparency and professionalism in the post-acquisition entity.
The conditions listed by NCC that must be met by the Buyer are Strong Telecoms Operating Experience, Strong Financial Capabilities, Strong Technical Knowledge and Strong Administrative Skills.
The first thing that happened once Teleology was announced as the preferred winner was that the Funtua Group edged Adrian Woods out of Management and turned him to an Insignificant Shareholder.

The second development was that the Funtua Group raided Keystone Bank again and forced the Bank to Pay 50 million Dollars as down payment for the acquisition of 9-Mobile.

The third issue was that Teleology Nigeria replaced Teleology Holdings to remove any influence of Adrian Woods from 9-Mobile totally. The fourth step taken the Funtua Group was to borrow 260 Million Dollars from African Exim Bank.

The fifth thing was to coerce NCC to approve the sale at all cost without meeting 90% of the conditions set up ab-initio by the NCC.

The sixth strange action of the Funtua Group was to force the board of NCC to approve the sale through the influence and pressure from the Presidency. And the seventh Funtua infraction was to use the influence of CBN to force the Banks to the table and waive their own conditions of sale of 9-Mobile to the Teleology Nigeria group.

Efforts to reach the acting Head media and publicity of Economic and financial crimes Commission,EFCC, Mr. Tony Orilade to confirmed the latest developments proved abortive as his lines were not connecting.


http://www.thecapital.ng/?p=28100

bejeria101:
Headless chickens! Didnt PDP destroy the country in 16years?

APC demolished it in 3 years.

Beetobee:


For your information, Funtua has been in serious construction business for more than forty years. His company is Bullet Construction Ltd. He built part of Federal Secretariat, Abuja.

Then he should buy the keystone Bank the right price n the right way naaa!

Shameless lots

dis country sha na scam oh.I swear

dunkem21:
APC lost a lot when they lost Saraki..

Dude knows a lot.

I swear saraki is an asset. Buhari made a mistake of letting this guy live APC. He is bringing this government down at all course.

Tell these top bank managers and foreigners like Mr Woods that there is no more corruption in Nigeria under Buhari.

They will just take a long look at you and silently reach for their drink.

Story for the Gods, Can you find Issa Funtua listed as a shareholder of Keystone bank and 9 mobile, you are all commenting on unverified information,Nigerians can be gullible, let PDP come with document showing the name of the man as a shareholder, Lawyers can get this at CAC and I don't think PDP rats are not smart enough to get the document to show the whole world.Fake news everywhere, PDP should be more constructive in their Campaign and stop this nonsense running down of Buhari without evidence.

ochejoseph:


Before the sale of Keystone Bank to Isa Funtua, all bad debts in the books of the Bank were taken over by AMCON. So, it was a clean Bank with all the Assets and no Liabilities that was sold to the Buyers.



http://www.thecapital.ng/?p=28100

This is totally not possible, they cant be so stupid and foolish to exempt liabilities from asset sold

Atiku was right afterall... Waiting for February

NaijaRoyalty:
I thought that fool, Festus keyamo, said Atiku was lying on the keystone and Etisalat acquisition by Buhari family and friends.


Na god go punish Festus keyamo .


Nigerians can now see that Buhari and his family are secretly milking the nation's treasury dry .


Lalasticlala. OAM4J

What do you expect from Keyamo?, birds of the same feathers flocks together,didn't you read Chima Amadi allegations about him?,have he refuted it or taken action?.

NaijaRoyalty:
I thought that fool, Festus keyamo, said Atiku was lying on the keystone and Etisalat acquisition by Buhari family and friends.


Na god go punish Festus keyamo .


Nigerians can now see that Buhari and his family are secretly milking the nation's treasury dry .


Lalasticlala. OAM4J

Na today una dey wake up....

If you know what is going on in Nigeria, u go weep.

Buhari is milking Nigeria more than that of Abacha.

NaijaRoyalty:
I thought that fool, Festus keyamo, said Atiku was lying on the keystone and Etisalat acquisition by Buhari family and friends.


Na god go punish Festus keyamo .


Nigerians can now see that Buhari and his family are secretly milking the nation's treasury dry .


Lalasticlala. OAM4J

To the highlighted prayer, I say Amen!