₦airaland Forum

Atikuloot

Information detailing the corrupt activities of the Vice President – Mr. Atiku Abubakar, as gathered by Saharareporters, reveals the extent of Mr. Abubakar’s corruption was more wide reaching as original perceived by Nigerians. In a document obtained by Saharareporters, it was  learnt that Atiku whose financial status was modest prior to his ascension to the office of the Vice President has exponentially increased in his financial wealth to the extent he  now owns 146 homes in Yola, Adamawa State  in addition a slew of transaction that run into the high millions.
It is believed President Obasanjo and Vice President Atiku are equally messed in corruption.   


Mr. Abubakar had served the Nigerian Customs and Excise Service for 20 years and retired in 1989 at the rank of Deputy Director. After his years in Customs, Mr. Abubakar engaged in a quilt of business involvements straddling the world of business in oil services, real estate, agriculture, education, the print media, and lately the corridors of partisan politics.

The Vice President with a modest portfolio of one house in Kaduna, Yola and Lagos, eight years in the vice-presidency has immeasurably transformed Mr. Abubakar’s holdings.  His high profile $25 million University (ABTI American University) in Yola, plus the $8 million he paid to the American University in Washington DC for a direct license to use the franchise of the university (known as partnership and management consultancy by AU officials) is a critical reference to the investment profile of a public officer who did not seek bank loans to execute these gargantuan investments.  When contacted about the nature of the deal with ABTI- American University, Washington DC-based AU’s Vice president for International Affairs Mr. Robert Pastor  said that the $8 million figure claimed as the cost of doing business with ABTI-American University was “inaccurate” but refused to reveal the exact cost of the partnership and management consultancy with Atiku’s high profile college which he bragged was the best in Africa after 11/2 years of operation, he said that the exact cost of the partnership was confidential.

 In the course of his eight years stewardship, Mr. Abukakar has managed to corner controlling shares in Bank PHB, controlling shares in Intel, an oil services company with operates in Angola, Equatorial Guinea, Gabon and Sao Tome and Principe; controlling shares in AP Petroleum, which he was forced to divest recently in a hail of controversy regarding the ethics of his management of the country’s privatization program.  Added to all these assets must be included the control of huge assets in real estate in Yola where today he has 146 houses; the largest print press in Northern Nigeria; and the control of the Faro private water business. 

The vulnerability of the vice president, who in his two-term tenure has recorded N60 Billion worth of bank transactions, has always made it easy to point at elite corruption to illustrate the subversion of Nigeria’s national efforts at constructing a fair, accountable and transparent polity this much was raised by the BBC interviewer earlier today.  The vice-president was cited for diverting $125m from a public trust fund into his personal businesses. The $125m was diverted from the Petroleum Trust Development Fund (PTDF).

 An excerpted part of a recent presentation by the Chairman of the Economic and Financial Crimes Commission (EFCC) to the Nigerian Senate Ad Hoc Committee on the Probe of the PTDF renders the issues in a graphic brief:  “Atiku Abukakar is the Vice President of Nigeria and he was the one overseeing the activities of the PTDF.  He inaugurated the Interim Management Committee of the Fund in September 2000.He played prominent roles in the approvals for release of PTDF funds and their placement in two banks.  The VP had an outstanding interest in the placement of the PTDF funds in these two banks.  For one, even the $125 million for the implantation of some specific projects was not utilized for that purpose, rather because of their diversion to their placements in the two banks (TIB & ETB).  Prior to the placements of the PTDF funds, the Vice President held several meetings with either the ES (Executive Secretary of the PTDF) alone and sometime the ES and Mike Adenuga to discuss modalities regarding the placement of the funds either in TIB or ETB.  The placements were done at the detriment of the Fund as they were made at interest rates below the average CBN Minimum Rediscount Rate (MRR) even when he was strongly advised against that.”
“The request for the release of the $20 million, was predicated on the issue of the ongoing projects being executed by the Fund, whereas it was not so.  The funds were released again by the VP and were sent straight to the same placement in TIB.  This second release according to reports was done without the knowledge and approval of the President and the FEC, even though the President’s own pattern of management of the Petroleum Resources ministry pointed to the fact that both the VP and the President might have shared.  As these funds were hitting the two preferred banks, “loans” were packaged by TIB, even without adequate collateral, for his long time friend and business associate, Otunba Oluwole Johnson Haliru Fasawe through NDTV and Mofas.  In Mofas, one of the directors is Alhaji Adamu Abubakar, a son of the VP.  Through the VP’s name was not stated as a director of Marine Float, evidence abounds that the account is controlled by him.  First, the VP admitted he paid N30million for the property from that account; secondly, most of the beneficiaries from the account are his friends, associates.

“Similarly, as the funds were hitting ETB, Otunba Mike Adenuga made $20million deposit for Globacom license, the second national carrier.  A little scrutiny of the equity ownership structure of the company revealed that Otunba Mike Adenuga lied about the ownership of the company.  When the transfer of the $50million by PTDF from its account in UBA Plc New York was made in ETB, Mike Adenuga gave the Vice President the sum of N322million (i.e. N300m on 27/11/02 & N22 on 06/03/03) through his Marine Float account domiciled in Bank PHB Plc through his aides- Akinyera and Ajibade.  N21 million was paid to the VP through a draft raised in the name of Umar Pariya, his Personal Assistant. 
The Vice President held several meeting with the US Congressman Williams J. Jefferson both in Nigeria and abroad in relation to business ventures, which included NDTV and Rosecom.net, an ISP.  When the business relationship between NDTV and iGate collapsed, his assistance was sought to extinguish the outstanding approximately $2million already paid by NDTV.  Even though he denied assistance on extinguishing the amount, he accepted, conveying a letter from US Congressman Jefferson to the Honorable Minister of Communication Chief Cornelius Adebayo in relation with iGate and Rosecom.net business venture.

“The VP’s business interest in NDTV was confirmed when he made an initial deposit of N30million in January 1, 2003 from his Marine Float account in Bank PHB Plc for the purchase of the N200million property being used as NDTV Head Office.  His interest also influenced the placement of PTDF funds in TIB from where Otunba Fasawe obtained “loan” and completed the payment of N170million for the property at the Wuse.  The VP’s interest in NDTV is further buttressed by the fact that he even acted as a referee to Otumba Fasawe for the sourcing of the licensing of NDTV in Nigeria Communication Commission (NCC).  Investigation also revealed that the Vice President severally met contractors of NDTV at Jada, his hometown on his interest in the company.”

The burden of proof on Mr. Abubakar today therefore will rest on how he hopes to construct a coherent argument that his two decades of public service in the customs department is enough to make him the multi-millionaire and one of the nation’s richest business men; and how he wants to lead a nation struggling to crawl out of the quagmire created by a reputation of grand corruption when he could supervise such brazen deal making at PTDF and seek to legitimize it as normal and appropriate state policy. As for us at Sahara reporters, we are still awaiting the promise made to us by the VP to publicly declare his assets and ship over to us the Ghana-Must-Ghana bag containing all the oil contracts awarded by President Obasanjo in the last 7-years!

Source: http://saharareporters.com/2007/02/20/vice-president-atikus-burden-corruption

Starboytwo:
For the first time in a long while I have finally seen a super eagles player that can move attack and constantly be a pain in the neck for the opposing defenders... Also scoring on his first start for the SUPER EAGLES let's welcome SAMUEL KALU.... Offcourse it's his first ever start for the national team so I will spare him for whatever he did wrong besides he scored a beautiful and well taken goal so his little crimes are forgiven....

I know a lot of people are saying Blah blah but for me I have finally seen a player who brings the fear factor and can delete 1 or 2 defenders before laying the square play for the striker to score....

Our team is gradually taking shape and form... I don't know about out goal keeper yet but I do know we got two good center back(Balogun, ekong) and our backline taking shape Ebuehi/shehu/Ola for right back...Ndidi and Etebo constant k... Iwobi, kalu, Musa, success, Henry, iheanacho etc.... I'm not particularly impressed with ighalo but if you bagged a hatrick then nothing left to say....

All in all good game to our boys and I'm sure kalu is starting next match... Who else saw our bench.... Damn I'm loving this super eavles6

He started against Seychelles, Libya was his second start

Afamed:
You really buried the boy. kindly ignore him

Thanks

mercenary:
Because of ordinary 30k, I pity your generation

Are u the one paying me the 30k? You should rather pity ur own generation

IamAtikulate:
Adamawa, Taraba, Gombe and Bauchi is already on lock down for Atiku.

Who do you think Borno and Yobe would vote for between an Atiku that is suffering insurgency with them and a Buhari whose airforce bombed an IDP camp and also starving them?

Wait till then

IamAtikulate:
Anambra is SW nemesis. Let meet at the polls. Registered voters in SS and the other 4 states in SE would neutralize registered voters in NW.

NE/NC would bury the terrorists.

Buhari is going to win North East, just forget that one.

IamAtikulate:
Let meet at the polls then. E go clear your eyes. No NE and NC to hand cheap victory to the terrorists again.

Since the yoruba moslems have made this a SW vs SE thing, let see who would come out victorious.

Even though the aparty in the SE in 2015 was the worst in history of this democracy, only Anambra neutralized SW entire votes, what do you think will happen when Atikulation is now a movement, or do or die affairs in SE?

I'm a yoruba christian, I was born into Christ Apostolic Church, so forget ur yoruba muslim of a thing....Sai Buhari till 2023

You are a political novice

Colourich:
Thanks be to Jah.

Can I be a friend?

Colourich:
I heard election will affect March batch A 2019 so they will shift it to june, how true is that?

I don't think so, because our VC said we will be mobilised early

Colourich:
Yes, I hope your name is on the jamb matriculation list to avoid stories that touches the heart?

Your course?

Colourich:
Yes, I hope your name is on the jamb matriculation list to avoid stories that touches the heart?

Yes, it is

Colourich:
Are you 2018 set?

Yes, you?

Colourich:
Ma nigga .

Me sef dey wait service o, but I be Akokite

Colourich:
Our set that there name came out for this batch C worked it, you know imsu and their mago mago way of doing things, I will wait till my own come out normally next year, I can't dash someone 100k cause I wan go service this November, I dunno where those people are rushing to.

Okorocha pikins

Colourich:
Savage response

No, it is Tiwa's response

pdppower:
ok o. No hard feelings. Voting is a matter of choice. But please think about what your decision will bring you in the next four years

We tried PDP for 16 years, nothing stops us from trying APC for 8 years

Samantha23:
I am also spot less. lol

You are "spotfull".

pdppower:
And your godly party needs eternity to fix it abi. I know you are also suffering this govt's policies but your case is suffering and smiling.

It is very easy to demolish a building, but it takes time to rebuild it...I believe this government is on the right track, so I'm going to febuhari next year, my PVC is ever ready.

pdppower:
Agreed PDP 'destroyed your economy' for sixteen years. Do your masters need another sixteen years to fix it. Mind you, during PDP, the highest dollar climbed was 210 naira to a dollar, a bag of rice was 7500. Now, a dollar is about 370 and a bag of rice is 15000 or more. As for me, I'll prefer the one that made life easier for the average man on the street

Dollar was 21 naira in 1998 before your devilish party came on board, I remember vividly that a 5 litres of kerosene was 50 naira as well, a cup of rice was 10 naira....never again would PDP govern this country....We are going to febuhari next year...in Sai Baba we trust.

Lie from the pit of hell

See it here

In your dreams

AGNESikpuNNU:
ATIKULATION SHIP DON SAIL TEEH TEEH

No time to listen to lies and propaganda again ... people now habitually jump topics and posts of paid lying agents of the economic wrecking devil

Sail ko selebobo ni

Here it is

In your dreams

Racoon:
[b]APC will not rejigged the worn out federal cabinet to improve governance hence will be the first government in the annals of Nigeria not to do that while in power.

However, they elected a national party excos.Even forced to get a new party spokesman to continue the propaganda onslaught 5months to the general election
See how insensitive & unreasonable they can be?

Well they are @ a complete loss over the Atikunation wave sweeping nationwide.[/b]

Will not rejigged?

WhyMoD:
no I don't know.. as far as I can see Bubu is the most corrupt yet pretentious human ever..

Why is he not asking for donations for election campaign like he did in 2015?

Ok.. he's gonna steal our money for campaign right?

Yeye dey smell

Lol, U are entitled to ur opinion, but we are going to febuhari next year

WhyMoD:
Buhari is not corrupt..

You and I know that it was propaganda

WhyMoD:
of course.. I agree that Atiku is corrupt. But don't act like Buhari is a saint. He is more corrupt too.

So I'd go with the lesser evil.. Atiku..
Bubu is corrupt, wicked, hateful, dullard, has no idea how to run any business talk more of any economy of 500billion USD..

Imagine someone owning 150cows for 30yrs without any increase..does it not show you that guy shouldn't be anywhere near businesses?

Bubu is going back inshallah

Buhari is not corrupt sir, we are going to febuhari next year