₦airaland Forum

HungerBAD:
Indications emerged at the weekend that the 27-man task force investigating the $2.1billion arms procurement scandal under the former National Security Adviser, NSA, have traced a whopping sum of N1trillion to the accounts allegedly owned by four EX- service chiefs.

The $2.1 billion is an amount budgeted for procurement of arms by the immediate past administration to fight the Boko Haram insurgency in the North East.

A highly placed source at the Economic and Financial Crimes Commission, EFCC, told Nigerian Pilot that the task force investigating the arms deals in conjunction with the financial intelligence unit of the EFCC found about[b] N1trillion of the missing money[/b] in the accounts of four former service chiefs. The money was allegedly paid into the military officers’ accounts domiciled in four new generation banks.

The source further said the affected service chiefs would soon be invited to explain all they know about the money found in their bank accounts as well as their involvements in the arms deals.

The former service chiefs were those in the Air Force, Navy and Army.

Apart from the Service chiefs, it was further gathered that more retired and serving military officers are also being investigated by the anti-graft agency and those found culpable would be invited for questioning.

For instance, the source explained that, “The commission has traced N400million to the account of a serving security operative. The shocking discovery was made just before the New Year.

“Efforts are still being made to trace other transactions. The motive is to go after some of these funds that are in private accounts.”
Recently, the EFCC picked up a serving Colonel and a German citizen in connection with the ongoing investigation into arms procured.

Sources said the duo are currently detained in connection with the training of 750 Special Forces in Belarus in 2015.

Another top operative of the commission said the commission had written to the Defence Headquarters and heads of the three services of the Armed Forces for the release of some personnel needed by the anti-graft agency to shed light on their roles in the arms procurement deal.

The Defence Headquarters had repeatedly said the present administration would not tolerate corruption, which it noted had retarded the development of the country.

The Acting Director, Defence Information, Brigadier General Rabe Abubakar, told our correspondent on phone that the military was fully in support of the Federal Government’s campaign against corruption.

In a related development, Nigerian Pilot gathered that the EFCC would next week invite nine prominent northerners, who were mentioned in a letter which a former chairman of the Peoples Democratic Party, PDP Board of Trustees, Chief Tony Anenih, wrote to the anti-graft agency.

Anenih had in the letter explained how he shared N260millio paid into his account by the Office of the National Security Adviser, ONSA during the tenure of Col. Sambo Dasuki (retd.).

He alleged that he gave N63million to a group coordinated by a former Special Assistant to former President Shehu Shagari, Alhaji Tanko Yakassai.

But Yakassai said he only got N53million not N63million from Anenih as alleged and that he used it for official purposes.

Yakassai said, “The amount being bandied about is not what was given to me. It is true Chief Anenih gave the committee of eminent persons, which I headed some funds for our assignment. The money being quoted is not what we received.

“The committee of nine persons, which I led, was given an assignment to reach out to traditional rulers on the need for them to ensure peaceful elections in their domains because there was tension prior to the 2015 general elections.

“We went round 18 states and Abuja where we met two persons in each of the states we visited. We started with the Sultan of Sokoto. We could not meet with traditional rulers in Gombe because on the day of our visit, Boko Haram attacked the town and there were reports that they were targeting the Government House, where we were at that time.

“The money the committee received was for logistics, such as transport and accommodation. We wrote a report after our assignment, which started on January 14 and ended on February 15, 2015; the records are there.”

The elder statesman said he was prepared to defend the activities of the committee when required to do so, stressing that the committee performed its assignment creditably and transparently.

Efforts to get response from the EFCC did not succeed as at the time of filling this report as calls to the mobile phone of its spokesman, Wilson Uwujaren was not picked.

Mynd44, Lalasticlacla,Seun

http://nigerianpilot.com/2-1bn-arms-probe-n1trn-found-in-4-ex-service-chiefs-accts/

If the total money missing is $2.1bn even at the present parallel rate of 280NAIRA/$1 will be N560bn That means that what is the account of the ex service chiefs is more than the US$2.1bn

Earning salary makes you earn a living not a fortune

This is a shame. Our traditional rulers should stay above politics

It's real wonderful being part of Project Jireh 1. I'm also part of Project Jireh 2. To GOD be glory always. AMEN

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Hmmm. Hope this no b scam o. Please beware

Mr Owl ate my metal worm
On a clover, if alive erupts a vast pure evil, a fire volcano
Rise to vote, sir
Live on time, emit no evil"

December 25 is not universally accepted as Christmas day


Christmas day
Date
December 25
Western Christianity and some Eastern churches; secular world
January 7
Some Eastern churches
January 6
Armenian Apostolic and Armenian Evangelical Churches
January 19
Armenian Patriarchate of Jerusalem

https://en.m.wikipedia.org/wiki/Christmas

oluwafemi113:
You no get work

Today is a holiday, work free day

How time flies. Find below APC's 2014 Christmas message to Nigerians.

The All Progressives Congress (APC) yesterday assured Nigerians that today’s Christmas would be their last under the bondage of insecurity, corruption, unemployment, widespread hopelessness and poor leadership.

In a Christmas message to Nigerians, the party, however, such a desire would only be achieved if voters use the opportunity offered by the coming presidential election to choose competent leadership.

In the Christmas message contained in a statement issued in Abuja yesterday by its National Publicity Secretary, Alhaji Lai Mohammed, the APC sympathised with Nigerians who it claimed could not celebrate Christmas this year on account of the difficulties in the land.

In the message, the APC also listed out programmes it said would help to redress the gloomy situation in the country. Among the programmes were a monthly welfare scheme to cover 25 million poor Nigerians, the employment of at least 100,000 more policemen and the establishment of a properly-trained and equipped Federal Anti-Terrorism Multi- Agency Task Force to destroy Boko Haram.
Noting the fate of Nigerians under the present leadership, the APC said: “Many cannot travel home due to fears of kidnapping, ethno-religious crisis and insurgency, depending on which part of the country they are from. Many cannot celebrate due to the effects of the economic downturn, as manifested in weakening Naira and falling oil prices, both exacerbated by widespread corruption.
‘’Many will mark the holidays in darkness as the country’s public power supply seems to have fallen in a direct proportion to the huge funds ostensibly pumped into the sector in the past few years. Many will be stuck on the roads that have become clogged due to their poor state.”
‘’While there is no magic wand to solve the myriad of problems facing our country in one fell swoop, an APC government will begin to positively impact on the citizenry within its first few months at the helm, to such an extent that Nigerians will have a better Christmas celebration in 2015,’’ it said.
‘’We have, through our manifesto, entered into a honest social contract with Nigerians. But we are aware that we cannot do it alone, hence we need the consent and participation of the people.
‘’Our eight pledges for a better Nigeria, which are highlights of our manifesto, form the core of our social contract with Nigeria. During our first term in office, we pledge to create 3 million new jobs a year through public works programmes and by shifting the economy towards value-added production will be our primary economic target; we will strengthen security by employing at least an extra 100,000 police officers and establishing a properly-trained and equipped Federal Anti-Terrorism Multi- Agency Task Force to destroy Boko Haram and any form of insurgency. We will also introduce an immediate pay rise and improved conditions for all five security services.
‘’To fight corruption, the cankerworm that has eaten deep into the fabric of our society, we will adopt a zero-tolerance approach to the vice – rooting out dishonest public servants and imposing tough sanctions including jail sentences.
‘’To position our youth for better job opportunities, we will provide interest-free loans for university/technical school students who meet the required entry qualifications, and this will be funded by providing guarantees to the banking sector and by absorbing the interest. Also, we will introduce a free daily school meal for all children attending primary school.
‘’As a first phase to battling poverty, we will introduce direct conditional monthly social security payment for 25 million of the poorest Nigerians.
To ensure a more healthy society, we will create a network of local health centres providing free services and drugs, such that no one lives more than 5km from help. And will will create a more equitable distribution of national revenue to the states and local governments because this is where grassroots democracy and economic development must be established.
‘’We know that for our long suffering people, hope springs eternal. We urge them to continue to keep that hope alive, because help is on the way,’’ APC said.

http://www.vanguardngr.com/2014/12/apc-nigerians-last-christmas-bondage/

How true has the party been in fulfilling it's promises?

Just thinking and with due respect to the feelings of family n friends of the kidnapped Chibok girls, where is the Bring back our Girls advocacy group? Not much seems to ( heard about them recently.

Kindly update me on the matter

Just thinking and with due respect to the feelings of family n friends of the kidnapped Chibok girls, where is the Bring back our Girls advocacy group? Not much seems to ( heard about them recently.

Kindly update me on the matter

freshvine:
You're not versed in international economics. Nigeria is a monolithic economy and our dependence on oil is the bane for our underdevelopment.

In the international market, oil is our comparative advantage and when there's a sharp drop in price, Nigeria government will devalue the naira to cushion deficit at the expense of its citizenry.

Practically, as oil drops, government will devalue naira making you pay same amount you paid when they'd subsidized.

Well it appears we r saying different things. I am saying that the issue of subsidy for now and d nearest future will b virtually low or non existent using present official rate.

Now if the official rate changes n the refineries are still not working then except the pump price of PMS is increased the subsidy issue will no doubt rear it's head

Let's say d truth. The reason why Govt will not spend much on oil subsidy n can do away with it in 2016 is because the price of crude oil on the market is too low. Price is presently below US 40.
It's therefore not a matter of efficiency or productivity, it's primarily because with no subsidy at the current crude prices PMS shouldn't cost more than 100 naira

computerboy:
OK. First as you're not seeing "sleep" option, it shows you haven't installed a display driver. That will come when you install your display driver.

Secondly, to get hibernate option, click on your battery icon and open power settings from there. On the options on the left, you'll see "choose what the power button does" then click on it. Then look for "change settings which are currently unavailable" and click on it as well then scroll down and tick hibernate box then save. That's all

Thanks I followed your steps and it worked

Everfrank:
1. 04/04/2016 is Monday
2. 06/06/2016 is Monday
3. 08/08/2016 is Monday
4. 10/10/2015 is Monday
5. 12/12/2015 is Monday
6. The calendar of 2016 and 1994 are one and the same.
7. The dates and days are the same
8. Even the festivals are the same.
Who said you can't get what you lost 22 years ago?

The calenders of 1994 n 2016 can never be the same. 2016 is a leap year 1994 was never a leap year. There will be February 29 2016, there was never February 29 1994.
So the calendar of 1994 can never be the same with that of 2016.

Please stop the misinformation

PassingShot:
I said it that neither INEC nor APC erred.

1. Election was not won or lost based on the Electoral Act as there were more registered voters than the margin with which APC/Audu was leading. And since the Act recognized only registered voters and not PVC collected, the election became inconclusive.

2. Faleke did not participate in APC's primaries whereas the Electoral Act clearly stated that for any candidate to be elegible for election into office, he/she must have participated fully in his/her party's primaries. So, how will APC have used Faleke who didn't meet this criteria? Doing so would have handed the governorship to Wada through the courts later.

The case of Boni Haruna and that of Amaechi or any other similar ones are clearly different from this Kogi's case. In Kogi, no winner has emerged and it's the reason Faleke is unfortunate here.

The decision of the court is neither a victory for INEC or APC. The court just said the matters brought can only be dealt with by the Election Tribunal

Okay if it's legal. However since he us representing Ikeja II in the House of Representatives maybe it would have been good if he resigned since Kogi State is different from Lagos State

Adewummy007:
Good observation. I remembered same happened to APC gubernatorial aspirant of ondo state (Akeredolu) but he transferred his registration from Oyo state to ondo state.
It's a long process but voters registration can be transferred.

Okay

pus22:
Falake does not have to register or vote in the ele tion. He is just a deputy.

Must his name not be on the voters register?

A thought just came to my mind.
Hon James Faleke,in the March 2015 general elections contested and won an election in Lagos State. He no doubt voted there.

In November 2015, he is contesting in the Kogi gubernatorial elections



So my questions are
1. Did he re register to vote in Kogi State
2. If the answer to question 1 is yes, when did he do so
3. If the answer to question 1 is no, is it legal for him to contest

The match starts at 5.30pm GMT (6.30pm Nigeria Time)

First page

Second page

Independence Day.pdf - Google Drive

----- THE PRESIDENCY -----

OFFICE OF THE SECRETARY TO THE GOVERNMENT OF THE FEDERATION

P.M.B.9, GARKI,ABUJA. Website:

Tel:

E-mail: FINANCE AND ACCOUNTS

----------- OFFICE

12thOc¥o\)er, 2015 Ref:

Oluseun Onigbinde,

13 Hughes Avenue,

Alagomeji,

Yaba,Lagos

Independence Day Celebration/Centenary Actual Expenditure

From 2010·2015

With reference to your letter dated 2nd October, 2015 on the above

subject matter; it is stated as follows:

Year

2010 Golden Jubilee 1,700,000,000.00

2011 No release of funds

2012 107,600,000.00

45,000,000.00

53rd Independence Anniversary

2013 53rd Independence Anniversary

(Please note that in 2013 Mr. President approved the sum of

N223,800,000.00 for the 53rd Independence Celebration, only

N45,000,000.00 was released to the Office of tbe Secretary to the

Government of the Federation.)

2014 54th Independence Anniversary 180,000,000.00

2015 55th Independence Anniversary 70,000,000.00


"This the un edited text of the first page of the letter attached with my earlier post"

Remember the figures brandished by the Kaduna State Governor El Rufai on independence day celebration expenses over the years.

Now due to the Response of a Freedom of Information request, the truth is now out and it's official. El Rufai goofed

seunmsg:
Give what to PDP? Even Metuh won't make such demand.

The constitution and electoral act are both silent in the event of the present situation in Kogi state. So therefore, it is left for INEC as the umpire to take a decision based on the spirit of the law and what they can infer to be the intention of the drafters of the law. If PDP is not satisfied with INEC's decision, they should go to court.

I believe the AGF should approach the Supreme Court for judicial pronouncement on the way out of the logjam.

Angelstartups:
For a developing country like Nigeria, reducing MPR from 13% by 200 basis points to 11% is a positive move and a welcome development. MPR is a benchmark rate at which commercial banks can borrow from the Central Bank of Nigeria, with a corridor set at +/- 200/700 basis points. Which means the CBN can borrow banks at between 4%-13% interest rate. These are the implications:

Short-term consequence/ market reaction:
Further impact on short-term borrowings like the T-bills which may likely fall further, thereby reducing investments in short-term financial assets. Here, you will see more foreign portfolio investors (FPIs) pulling their funds out of Nigeria
Impact: Short-term
Our Verdict: No worries for Nigeria

With the FPIs pulling their funds out of Nigeria, there will be serious pressure on the Nigerian currency- Naira which will impact the exchange rate. This will however be in the short-term.
Impact: Short-term
Our Verdict: No worries for Nigeria, except for importers which then will have serious inflationary pull (cost-push) on Nigerian consumers. Because Nigeria is still highly import-dependent, the CBN must watch the pressure on inflation closely

Banks will now be able to borrow at a reduced rate which will impact positively on their bottom-line in the short-term, as they continue to lend at existing rates in the short term, thereby able to generate more income, more profits for shareholders till they begin to align their lending rate to a reduced MPR.
Impact: Short-term
Our Verdict: No worries for Nigeria

With the reduction in CRR from 25% to 20%, it means the banking system is now more liquid that ever before and therefore they can only do two things with the funds with them:
Either place it in short-term financial assets like Treasury bills or long-term assets like Bonds
or begin to take some more risks and lend to the real sector to earn more returns
Implication/ reactions:
If the banks take the funds to purchase T-bills, the pressure of demand on T-bills will go up which will inadvertently pull down the rates CBN will offer. Similar effect will be seen with the Bond market, where the more the demand, the lower the yields expected. And gradually, in the short-term, rates, yields from T-bills and Bonds will further crash than we are witnessing today.
Our Verdict: A good one for the Nigerian economy as banks will rather take real sector risk that is well-calculated and earn around 20% interest per annum, rather than fix the money in T-bills at 2-4% per annum risk-free. We will see more funds beginning to go towards the real sector.

On Foreign Investments in Nigeria:
Reaction: There will be less and less of Foreign Portfolio Investments in Nigeria however, there will be more Foreign Direct Investments (FDI) since these FDIs prefer a lower cost of borrowing in Nigeria, to set up their companies/ factories and employ Nigerians to grow and make profit. Foreign Direct Investments like those of Procter and Gamble (P n G), Guinness, Heineken, MTN, Airtel, and so on, will certainly be able to also borrow at a reduced rate from Nigerian banks and grow their businesses to expand their factories, create more jobs for Nigerians, make more profit and expand further.
Impact: More profits lead to expansion which leads to job creation for Nigerians
Verdict: More Direct Investments will follow this reduction, with both local and foreign direct investors taking positions to set-up, expand and grow their businesses

With a potential increase in interest rate in the United States by the Federal Reserve, then we should expect more "hot money" will flow out of emerging economies towards a highly stable economy like U.S. FPIs is what hot money is. Nigerians should not panic, but begin to look towards Entrepreneurship, micro, small and medium businesses, as the Federal Government continue to show more drive towards bridging the huge infrastructural deficit especially in areas of Power, Transport, Housing.

The train of change is just about to kick-start and launch out, Nigerians are you ready?

The jury is out.

Regards.

Nice analysis. However, the policy is a form of Quantitative Easing. Government fiscal policies need to be properly spelt out n directed to enable the QE to work. It is obvious that the FG will rely heavily on a. Recovery of looted funds b. Borrowings c. Increased tax drive d. Reducing cost of political governance in the year 2016 to finance its programmes.

So the true test is in its implementation and eyes need to be on the following
1 price of crude oil
2 inflationary tendencies
3 potential rise in US rates
4 local production capacity
5 exchange rate

GOD help us all

I believe that in the interest of the nation, the Attorney General of the Federation should approach the Supreme Court on the matter.

INEC has declared the Kogi governorship election inconclusive.


Announcing this Sunday, INEC said the officially collated results at headquarters of the commission in the state, revealed that the number of cancelled votes exceed the margin between the All Progressives Congress (APC) and the Peoples Democratic Party (PDP).


APC’s Abubakar Audu, who was leading the poll secured 240,867 votes ahead of Idris Wada, the incumbent governor, who polled 199, 514 votes, leaving a difference of 41,353. But the number of cancelled votes is somewhere in the region of 44.500 vote.


The Residential Electoral Commissioner said elections will have to be held in 91 polling units where elections were cancelled due to security concerns.

It's inconclusive as the cancelled votes us more than the difference between the votes of the first two candidates with high votes

Meritbaba:
The thread won't be rushed now, if it had been a muslim name mentioned you will be surprise at the extent these bigots would have rushed into the thread to start ranting.

The name Jihadi John was not the real name of the ISIL terrorist who killed those people
His name was Mohammed Emwazi.

Emwazi was given the nickname "John" by a group of his hostages. The hostages said that he was part of a terrorist cell they called "The Beatles", and that he guarded Western hostages while handling communications with their families. The nickname refers to John Lennon of the Beatles, and the three other group members share the first names of the other Beatles. The cell members all had British accents.[20] The nicknames "Jihadi John", "Jailer John" and "John the Beatle" were created by the press.[3]
https://en.m.wikipedia.org/wiki/Jihadi_John

So let's give correct information

I think it was done o. I remember that Matori road was renamed Fatai Atere Way.