₦airaland Forum

laosy:
Omo, this country nawa ooo.
And baba dey claim Mr integrity. The corruption case they'll uncover after this Buhari's regime will be greater than anyone they have ever uncover before. We kept borrowing yet we didn't see the projects they borrowed for.
Millions strenching to billions of dollars was recovered from Abacha's loot abroad yet we didn't see how it's put to use. Billions of dollars in aids and grants from developed countries yet nothing to write home about, our naira keeps falling, petrol price went up, inflation every and someone will come out and praise this dullard and call him Mr integrity?

ethicallyright:
Let me give a scenario why we say Nigeria is poor.

Lagos , with the highest revenue in Nigeria earned 397 billion naira in 2018. I00 billion is just 258 million dollars and 400 billion naira is 1.03 billion dollars. This means that an American Rapper Kanye West is worth more than the 2018 revenue of Lagos State.
They collected all the revenues in naira. Before declaring the revenue Mc Olomo will take a bit of the transport revenue, Ambode would have taken his share . But what they steal is nothing near the 397 billion naira that was declared as earned by Lagos in 2018. If MC OLOMO or Ambode wants to stack stack the money abroad, it has to be in dollars and to get the dollars from CBN, he must have a genuine reason like paying wards school fees abroad or financing imports. No matter what, the CBN will not be stupid to exchange up to 256 million scarce dollars with 100 billion stolen naira because it will result lessen Nigeria's dollars reserve.

The money collected in Naira can be used to pay salaries, build houses in Nigeria without stress but for it to be stacked abroad it has to be exchanged.

Yes, politicians and Public officials stack it abroad . Those with oil Wells have access to dollars they receive

Let me give a scenario why we say Nigeria is poor.

Lagos , with the highest revenue in Nigeria earned 397 billion naira in 2018. I00 billion is just 258 million dollars and 400 billion naira is 1.03 billion dollars. This means that an American Rapper Kanye West is worth more than the 2018 revenue of Lagos State.
They collected all the revenues in naira. Before declaring the revenue Mc Olomo will take a bit of the transport revenue, Ambode would have taken his share . But what they steal is nothing near the 397 billion naira that was declared as earned by Lagos in 2018. If MC OLOMO or Ambode wants to stack stack the money abroad, it has to be in dollars and to get the dollars from CBN, he must have a genuine reason like paying wards school fees abroad or financing imports. No matter what, the CBN will not be stupid to exchange up to 256 million scarce dollars with 100 billion stolen naira because it will result lessen Nigeria's dollars reserve.

The money collected in Naira can be used to pay salaries, build houses in Nigeria without stress but for it to be stacked abroad it has to be exchanged.

Yes, politicians and Public officials stack it abroad . Those with oil Wells have access to dollars they receive in foreign accounts, Diezani may corner some dollars before it reaches Nigeria to stack abroad and COS may inflate dollars used to purchase weapons, Governors may run a foreign scholarship scheme to get dollars to stack abroad or even agree with foreign construction Companies to hype their contract since the companies receive dollars they can remit the excess dollars. No one walks to the Nigeria's foreign reserve and drops trillions of naira in exchange for billions of naira without a just cause.

nedekid:
Bro, leave matter, the kind of money some people make out of this country is more than what states share. 20+ years ago I knew of a businessman that could not deal with states cause he claimed they had no money. Ie the contracts he does cannot be finance by states. Do you know there are people that have businesses that are paid in dollars daily? Do you know that folks in places by virture of just their position make millions daily? Go and check how much oga that married that young actress has made over the past 2 years and you will be shocked it is over $500m usd. This is in naija that "has no money".

blinking001:
Leave Buhari out of this nonsense. He's an intelligent man with Integrity. Enough of these defamation already.

Masterpiec30:
KAI IT SEEMS THIS NAIRALAND COPIES AN ALREADY OUTDATED NEWS FROM LINDA IKEJI'S BLOG . SINCE I STARTED FOLLOWING LINDA IKEJI'S BLOG ITS AS IF I AM READING ALL THE NEWS THE SECOND TIME HERE ON NAIRALAND. LINDA IS ON ANOTHER LEVEL BIKO.

Masterpiec30:
Yorubas are loyal slaves don't you know. Sometime I wish I am a Yoruba man so I can rule over and loot them in peace like like Tinubu

laosy:
Omo, this country nawa ooo.
And baba dey claim Mr integrity. The corruption case they'll uncover after this Buhari's regime will be greater than anyone they have ever uncover before. We kept borrowing yet we didn't see the projects they borrowed for.
Millions strenching to billions of dollars was recovered from Abacha's loot abroad yet we didn't see how it's put to use. Billions of dollars in aids and grants from developed countries yet nothing to write home about, our naira keeps falling, petrol price went up, inflation every and someone will come out and praise this dullard and call him Mr integrity?

DirtyGold:
Corruption only became privatized in this administration which is why many people are suffering... corruption never paused for a second. Even Magu has his "file".

PMB is still preparing his own shock for the country... the country can't be the only one shocking him.
He's got to shock us back

What's tha business?

techmo:




If you believe anyone can loot 1trillion naira from a poor country like Nigeria, then you are a fool


The whole of Nigerian customs sef struggle to make 3 trillion

The whole of NASS senate + house of reps (107 + 360) budget ₦150billion per year Shuab would now get 1trillion as World Bank Abi?

Even almighty rich Lagos annual IGR through heavy tax is about 300billion .. where Shuab one see $2.5bn

.

Sysdatek:
but you all spread news that GEJ and Diezani stole 90B USD

clowns

Angelfrost:
"...[b]The stench bomb of fetid corruption that will explode after Buhari leaves office would be so unprecedentedly malodorous it would deaden Nigeria's collective nasal sensibility for a long time"[/b]

I love the use of idiom here.

I believe I am one of the few whose sensibility will remain unaffected, since I already know Buhari is even more corrupt than Jonathan.

techmo:




If you believe anyone can loot 1trillion naira from a poor country like Nigeria, then you are a fool


The whole of Nigerian customs sef struggle to make 3 trillion

The whole of NASS senate + house of reps (107 + 360) budget ₦150billion per year Shuab would now get 1trillion as World Bank Abi?

Even almighty rich Lagos annual IGR through heavy tax is about 300billion .. where Shuab one see $2.5bn

.

fredoooooo:
Epe ori igi abi wetin be this one name

Masterpiec30:
KAI IT SEEMS THIS NAIRALAND COPIES AN ALREADY OUTDATED NEWS FROM LINDA IKEJI'S BLOG . SINCE I STARTED FOLLOWING LINDA IKEJI'S BLOG ITS AS IF I AM READING ALL THE NEWS THE SECOND TIME HERE ON NAIRALAND. LINDA IS ON ANOTHER LEVEL BIKO.

Masterpiec30:
KAI IT SEEMS THIS NAIRALAND COPIES AN ALREADY OUTDATED NEWS FROM LINDA IKEJI'S BLOG . SINCE I STARTED FOLLOWING LINDA IKEJI'S BLOG ITS AS IF I AM READING ALL THE NEWS THE SECOND TIME HERE ON NAIRALAND. LINDA IS ON ANOTHER LEVEL BIKO.

banhammy:
......and Buhari government sacks 500,000 N-power volunteers who earn mere #30,000. peanut monthly because there's no money, WHILE just one person from Buhari government stole one trillion Naira.

Allah Ya'a isa

ethicallyright:
Mention one of those businesses that pay in dollars apart from oil.

Kenlinks546:
Must u always comment

techmo:




If you believe anyone can loot 1trillion naira from a poor country like Nigeria, then you are a fool


The whole of Nigerian customs sef struggle to make 3 trillion

The whole of NASS senate + house of reps (107 + 360) budget ₦150billion per year Shuab would now get 1trillion as World Bank Abi?

Even almighty rich Lagos annual IGR through heavy tax is about 300billion .. where Shuab one see $2.5bn

.

Masterpiec30:
KAI IT SEEMS THIS NAIRALAND COPIES AN ALREADY OUTDATED NEWS FROM LINDA IKEJI'S BLOG . SINCE I STARTED FOLLOWING LINDA IKEJI'S BLOG ITS AS IF I AM READING ALL THE NEWS THE SECOND TIME HERE ON NAIRALAND. LINDA IS ON ANOTHER LEVEL BIKO.

ymstar:
ra ra o, epe ori okuta ni
Una no go kill person with laughter

ethicallyright:
Let me give a scenario why we say Nigeria is poor.

Lagos , with the highest revenue in Nigeria earned 397 billion naira in 2018. I00 billion is just 258 million dollars and 400 billion naira is 1.03 billion dollars. This means that an American Rapper Kanye West is worth more than the 2018 revenue of Lagos State.
They collected all the revenues in naira. Before declaring the revenue Mc Olomo will take a bit of the transport revenue, Ambode would have taken his share . But what they steal is nothing near the 397 billion naira that was declared as earned by Lagos in 2018. If MC OLOMO or Ambode wants to stack stack the money abroad, it has to be in dollars and to get the dollars from CBN, he must have a genuine reason like paying wards school fees abroad or financing imports. No matter what, the CBN will not be stupid to exchange up to 256 million scarce dollars with 100 billion stolen naira because it will result lessen Nigeria's dollars reserve.

The money collected in Naira can be used to pay salaries, build houses in Nigeria without stress but for it to be stacked abroad it has to be exchanged.

Yes, politicians and Public officials stack it abroad . Those with oil Wells have access to dollars they receive


Yes, politicians and Public officials stack it abroad . Those with oil Wells have access to dollars they receive in foreign accounts, Diezani may corner some dollars before it reaches Nigeria to stack abroad and COS may inflate dollars used to purchase weapons, Governors may run a foreign scholarship scheme to get dollars to stack abroad or even agree with foreign construction Companies to hype their contract since the companies receive dollars they can remit the excess dollars. No one walks to the Nigeria's foreign reserve and drops trillions of naira in exchange for billions of naira without a just cause.

ethicallyright:
Countries own accounts. Nigeria has a foreign reserve and an Excess Crude Account. The former is used to keep money that will finance budgets while the latter is for excess money from the sale of crude oil which is Nigeria's major export. The Excess Crude Account is kept for rainy days like this pandemic when Nigeria will not sell crude oil to get dollars.

Nigeria's reserve is not up to 70 billion dollars.

Techmo

Kizyte:
Has anyone noticed the Arabic write up in the Nigerian Army's Logo?

blinking001:
Leave Buhari out of this nonsense. He's an intelligent man with Integrity. Enough of these defamation already.