₦airaland Forum

austinfan4love:
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

the biggest fraud is happening in the shrouded Fuel subsidy regime Buhari is running that has seen seen daily petrol consumption rise from 24 million litres a day to over 50 million litres a day in just 3 years

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

Shameless lots

Why do you bother? Dig deep you will find out that Funtua's group was deep shît in debt and couldn't stay afloat until Buhari became president.
Buba Galadima knows what he was saying.

SalamRushdie:
the biggest fraud is happening in the shrouded Fuel subsidy regime Buhari is running that has seen seen daily petrol consumption rise from 24 million litres a day to over 50 million litres a day in just 3 years

That and the forex scam. Imagine selling Forex to his family and cronies at the rate of 305, while they will go on and do round tripping at the black market for 360.
Nigerians should vote in Buhari again to finish the job of destroying the economy. Make we see which people go cry pass.

I told my family and kinsmen that after buhari has left office, his government will go down as one of, if not the most corrupt government to ever rule this country.

Yoighaman:
The President does not understand the complexities surrounding all these, the special advisers he relies on might not have told him the truth, he must have been embarrassed by the allegations by the PDP due to his integrity, hence the probe. PMB is surrounded by rouges taking advantage of his naivety to economic and financial matters...his core competence is fighting corruption, he understands nothing more...may he not end up like GEJ who was oblivious of happenings in his administration and tainting his name in the process. God help our leaders.

Integrity and Buhari shouldn't be in the same sentence. Thank you.

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 .

Don't forget Keyamo is a board member of AMCON.

Nobody is questioning Buhari dismissing a qualified technocrat like Choke as AMCON CEO and appointing Funtua's son in-law who is less qualified.

All of them planned the deal, criminals

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

funny enough the PDP destroyers constitute 75% of APC government

OLE!!!!!! OJU OLE RE!! OLE!!. APC AND BUHARI'S PEOPLE OLE!!!. IF YOUR PEOPLE ARE OLE THEN YOU ARE OLE!!!!

PassingShot:
So, the owners are no longer relations of PMB?

You should be ashamed of yourself!

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

Is that your consolation? Your stewpidity is extraordinary.

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.

You need to read about “the qualities of an effective leader”

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

very fake story by PDP

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

Dude knows a lot.

A highly placed told me this same thing...He knows more than enough and has people loyal to him to give him information anytime.

But I thought idiots from the land of the fallen sun said Buhari bought the bank and the telecom company. So, it is obvious now that Buhari did not have a hand in these companies unlike Atikuloot that sold all the nation's companies to himself and his family and friends. We have never had a president and vice this clean. Sai Baba. I am happy Baba did not disappoint me and your millions of die hard followers. Biafrans and Atikuloot will cry when they see election results.

Akinz0126:
You won't find those zombies here...Awon oponu afofugbemu

Why abusing your generation?

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 .

He who calls his brother a fool shall be in danger of hell. Matthew 5 :22

Wallade:
May God punish people like you. May the generation of those who sweat to put up PHB and Etisalat constantly swear for people like you.

Yeye dey smell. Ole jatijati

Make this comprehensible, I'm lost.

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

I don't support criminals but this ur comment reeks of stupidity.
So with this weighty allegations and some evidences thereof you could still say this?

Borderless:
Is that your consolation? Your stewpidity is extraordinary.

Oponu is that your best?

emkz:
The cronies of the President are taking advantage of his position for self enrichment. The man himself may not directly benefit from it.

President Buhari, the CEO of AMCON needs to be suspended while investigation is ongoing. That would send strong signals to Isa Funtua and Abba Kyari that you are intolerant of nepotism and corruption. I understand you can't be everywhere, but you need to show you are in charge. You need balls. You seem to me like a weak and lazy leader.

You must study all information and security reports on potential appointees before approval. You don't just appoint people because they were recommended by your loyalists. Even though Isa Funtua has been a long-time friend and campaign financier, you need to cut him off asap. Only you'd take the fall when things go wrong. This is embarassing. You need to address it before the next elections.

No president steals directly. so stop holding brief. The kind of stealing going on under Buharo is humongous. There are about 3 allegations that has not yet been exposed. The one at the border agency will be the next scandal. Atiku was never Head of state or president. so stop dreaming up lies k. your head. Buhari know pretty well whats going on. Baru did same and was left off the hook, Abbah kyari has his skeletons, but sti dines and eats with Buhari, Mamman daura too. They say show me your friends and I will show you who you truely are. Buhari is in on it.

stieyven:
He who calls his brother a fool shall be in danger of hell. Matthew 5 :22

the hottest part of hell is reserved for you and keyamo. People are killed everyday, slaughtered like rams, hunger and poverty, yet you are here defending it. Boko Haram and herds men are not.only those who kill people, they are also those who are oine defending a president who has a the instriments of power to.stop the ood spilling yet do nothing. May God punish anyone who is supporting those who have subjected Nigerians to untold hardship for their political gains.

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

RIP sense

Printerscanner:
But I thought idiots from the land of the fallen sun said Buhari bought the bank and the telecom company. So, it is obvious now that Buhari did not have a hand in these companies unlike Atikuloot that sold all the nation's companies to himself and his family and friends. We have never had a president and vice this clean. Sai Baba. I am happy Baba did not disappoint me and your millions of die hard followers. Biafrans and Atikuloot will cry when they see election results.

Did jonatban steal money directly mr. Olodo? but back then you were everywhere calling him thief. So why are you now holding brief for Buharis family and friends? Oga Hypocrite, You been outed, your demigod is a thief, and we shall send him packing, God willing.

Printerscanner:
But I thought idiots from the land of the fallen sun said Buhari bought the bank and the telecom company. So, it is obvious now that Buhari did not have a hand in these companies unlike Atikuloot that sold all the nation's companies to himself and his family and friends. We have never had a president and vice this clean. Sai Baba. I am happy Baba did not disappoint me and your millions of die hard followers. Biafrans and Atikuloot will cry when they see election results.

if you know who Issa Funtua is to Buhari then you will know Buhari has a hand in it

MrMoney55:
the president knows all my brother dont exonerate him he knows thats always his way even in PTF hes always acting as if he doesn't know hes the greatest thief of our time since 1978

Buhari is a congenital conman..please reach the link below and get not insight into the deceptive nature of the thief

https://wikivisually.com/wiki/Daniel_Bamidele

Modarun:
the hottest part of hell is reserved for you and keyamo. People are killed everyday, slaughtered like rams, hunger and poverty, yet you are here defending it. Boko Haram and herds men are not.only those who kill people, they are also those who are oine defending a president who has a the instriments of power to.stop the ood spilling yet do nothing. May God punish anyone who is supporting those who have subjected Nigerians to untold hardship for their political gains.

Love your enemies and bless those who curse you and pray for those who despitefully use you. LUKE 6 :28

BeeBeeOoh:




The gap between Buhari and "Integrity" so very wide

True talk

AllTheWayUp:

The looting being carried out by Buhari's family is unprecedented in the history of Nigeria

Am not surprised because Him(Buhari) & Abacha were 5&6. He was defending him. They steal similarly

SalamRushdie:
if you know who Issa Funtua is to Buhari then you will know Buhari has a hand in it

This is the biggest fraud in the history of Nigeria and it must not be swept under the carpet. Whoever is involved must be jailed and I just hope say baba hand no enter that cookie jar ooo otherwise na jail too o. This nonsense has to be stopped once and for all politics aside. We need to take this country back.

Buhari is not aware, it is those around him, bla bla bla

Grand corruption of dizzying magnitude

Just when we thought we had seen it all from Bubu