₦airaland Forum

EXCLUSIVE: Bank documents show GTBank bankrolled Osinbajo’s campaign with hundreds of millions, breaking federal electoral law
The transactions marked a brazen violation of federal campaign finance law that prohibits the donation of more than N1 million to a candidate in a presidential race.

HILLARY ESSIEN • FEBRUARY 8, 2022
Vice President Yemi Osinbajo/Gtbank logo
Vice President Yemi Osinbajo/Gtbank logo
In a gruesome violation of federal campaign finance regulations, a top Nigerian financial services outfit GTBank donated at least N200 million to the campaign coffers of Vice President Yemi Osinbajo, according to a cache of suspicious bank transactions records in possession of Peoples Gazette.

The financial records said GTBank’s Investment One fund management department paid N200 million in three increments of N100 million, N50 million and N50 million to Mr Osinbajo’s campaign account in the run-up to 2015 presidential election in which he stood as the running mate of Muhammadu Buhari.

The transactions marked a brazen violation of federal campaign finance law that prohibits the donation of more than N1 million to a candidate in a presidential race. The law recommends harsh criminal punishment for both the giver and the receiver of any amount above the legal limit.

Similarly, the documents showed Dapo Akinosun, the Managing Partner at Mr Osinbajo’s law firm SimmonsCooper Partners, deposited N50 million naira in two payments of N25 million into the same campaign account for Mr Osinbajo in 2015.

Dapo Akinosun
Dapo Akinosun
Two other lawyers who also violated federal law were Olufemi Atoyebi, the Principal Partner at Femi Atoyebi and Co, and Temitope Lawani, the co-founder and Managing Partner at Helios Investment Partners. They paid N10 million each, well above the allowable limit of N1 million.

SimmonsCooper, a white-shoe law office which Mr Osinbajo co-founded and ran until he became vice president in 2015, has been taking federal contracts under the Buhari administration.

Investment One’s CEO Ademola Aofoloju admitted knowledge of the transactions but insisted they were not inappropriate.

“Any transactions we carry out for our clients are privileged and confidential,” Mr Aofoloju said.



When asked why the N200 million transaction did not reflect in the firm’s financial report against regulatory standards, Mr Aofolaju said the matter was “classified.”

Segun Agbaje, CEO of GTBank, told The Gazette the banking giant had divested its interest in Investment One since 2011 but did not clarify whether or not the divestment was concluded as of 2015 when the illegal transactions were carried out.

Segun Agbaje
Segun Agbaje
However, at the time of filing this report, Guaranty Trust Holding Company Plc (GTCO) has acquired 100 percent shares in Investment One Funds Management Limited. Two former GTBank officials told The Gazette the company had not concluded its divestment from Investment One as of the time of the illegal donations to Mr Osinbajo’s campaign.

Mr Akinosun did not return calls, messages and letters from The Gazette seeking comments for this story. A spokesman for the vice president did not return requests seeking comments.

The transactions were a direct violation of the Nigerian Electoral Act 2010 which states in section 91(9) that “No individual or other entity shall donate more than N1,000,000.00 to any candidate.” Subsection 11 said: “Any individual who knowingly acts in contravention of subsection (9) shall on conviction be liable to a maximum fine of N500,000.00 or imprisonment for a term of 9 months or both.”

This violation of Nigerian electoral law has been described as a “recurring anathema in our electoral process”, according to Ariyo-Dare Atoye, a political analyst focused on electoral reforms.

Ariyo-Dare Atoye
Ariyo-Dare Atoye
“Right from the next elections in 2011, after the 2010 law was promulgated, political parties and their candidates have continued to act in contempt of this campaign donation law,” Mr Atoye told The Gazette. “Almost every candidate running for a higher office who can or has attracted support from friends and groups is guilty of this law over and over, profiting from an unstructured system.”

Mr Atoye noted the inability of the country’s electoral body to establish strong operational guidelines to enforce the provisions capable of regulating money politics.



Mahmood Yakubu
INEC chariman, Professor Mahmood Yakubu
“Once the Electoral Act 2022 becomes operational, we must leverage its newness to demand the operationalisation of the campaign donation regulatory law, including ensuring appropriate punishment for defaulters,” Mr Atoye said. “Only a thorough implementation of election campaign financing rules can guarantee young Nigerians and women the chances of aspiring to contest and win.”

The Independent National Electoral Commission (INEC) declined comments about whether or not it would pursue criminal charges against GTBank, Mr Akinosun and other lawyers for violating campaign finance law.

https://gazettengr.com/exclusive-bank-documents-show-gtbank-bankrolled-osinbajos-campaign-with-hundreds-of-millions-breaking-federal-electoral-law/

Investigative:
If they don't explain or account for his kidnapping
They can't prosecute him
Udele1 your hatred for nnamdi kanu have made you mad

Why didnt he tell them that in court, when he denied being a member of IPOB?

cazchi:
But has an exit stamp from the UK. Guy, whether you support Biafra or not, just thinkkkkkkkk. Black man, you're supporting lawlessness by Nigeria towards a freedom fighter. How do you think they'll treat you? You're the same one that'll cry foul when there is no electricity in your street for months or bad roads or police kills a friend/family.

You want him to wait for exit stamp from the zoo when they sent soldiers to kill him and others? If he is a terrorist, the brits would have arrested him. Don't let hatred and sentiments cloud your judgement.

Let the UK demand for that then, if they feel they have a case.

When you say he is fighting for freedom, i ask you freedom from what?

For who?

cazchi:
As far as the world is concerned, Kanu is still in Kenya.

Guy, use sense. Charge this man and face him in court. You have nothing and your children will spit on you in. future for standing against the liberation of the Biafrans.

He cant be in kenya without an exit stamp on his travel document from Nigeria.

gidgiddy:
The federal government of Nigeria has the highest responsibility to uphold the rule of law. If government cannot uphold law, it loses the right to tell anyone to do so.

The AGF, Malami, had a press conference where he announced that IPOB leader, Nnamdi Kanu, was brought back to the country

If Nnamdi Kanu was brought back legally, then there is no issue. But if he was kidnapped and extraordinarily brought back to Nigeria, it means the federal government is engaging in illegality, which negates the responsibility to uphold the law

How can a government reduce its self to kidnapping? Thats why the Nigerian government could not tell Nigerians where Nnamdi Kanu was brought back from, or the extradition process that brought him back. They know what they did was illegal

The government reduced its self to the position of a kidnapper

o

There is no case of legality here. If he left the country illegally, then any means that brings him back is legal.

If i sold goods to you cash, without giving you receipt. I f they get lost, you cant claim your goods were stolen, because there was no evidence of transaction.

So kanu left illegally, so there is no case here. Since his travel documents were not stamped on exit.

DrGoodman:


Ogbeni, ask your FG to pay the #1 billion naira gbese to Mazi Nnamdi Kanu or else

They are already spending it on kunu and tuwo to feed him.

Its funny when IPOB is asking federal government to explain how they Brought Kanu back to Nigeria, meanwhile they have not explained how Kanu left Nigeria.

As far as the world and federal government is concerned, Kanu never left Nigeria.

So there is no need for explanation.

Watch IPOB ESN/UGM attack a checkpoint in Enugu.

Im glad they can no longer blame fulani for their atrocities.

https://www.facebook.com/holybiafraland/videos/261616106093903/

Investigative:
You claimed that ESN are the one enforcing sit at home.
Now ESN captured the criminals
Still you are not happy.what is your problem
Are you not happy they captured sit at home enforcer

Is simon ekpa still part of IPOB?

How did chinanasa nworu know the fake ESN, if he did not create them?

Remember the threats? They have started carrying them out.


https://www.youtube.com/watch?v=lfMgSOYtZgA

Celebrating terrorism in igboland.


https://www.youtube.com/watch?v=ijOTMegNMhw

Chinasa nworu camp, killing Simon Ekpa camp.


https://www.youtube.com/watch?v=ywebfDgxx98

IPOB ESN is now killing ESN. Before they would have blamed fulani, today they are killing themselves.


https://www.youtube.com/watch?v=ywebfDgxx98

While kanu family and those giving the orders are abroad.

ViperAda:
Lol. Apple outsourcing is a vital strategy of cost effectiveness. Please, innoson does not belong in this conversation. It is a big crime comparing Apple to innoson.. what!


-Viper

When its Apple it becomes outsourcing. When its innoson it becomes assembly.

This level of foolishness must be genetic. Slavery of the blackman is in the mind.

The same China makes virtually all components of the Apple phone, but they are manufacturers.

When China makes components for Innoson cars, it becomes assembly .

ViperAda:
We have debunked their lies several times that innoson is a manufacturing company but unfortunately, ibos would only run with their beautiful lies and propaganda that suits their ego while the ignorant and unsuspecting public are left deceived.

There are several threads where we have bursted their lies since 2015. Innoson only acquired the rights to the brand "innoson" but the engines and prototype belongs to the Chinese company.

Samsung makes display screen for apple.


-Viper

Does Apple manufacture or assemble? Because various components of their phones, including screens are produced by other companies. Samsung makes screens for apple.

SlyDev:
Everyone want to rip one another in Nigeria but I will not accept is them attacking only Dangote for selling at a price comfortable for him and ignoring their own brother milking us dry because of some China assembled cars

Who is us? People who cant afford the parts of innoson car are talking about milking us.

walemoney007:
See, Alaye, carry this Foolish talk comot my front.

Go and work hard, make 3rd hand tokumbo cars no finish you.

walemoney007:
This is pure trash

Do you see me creating a thread, complaining about how his cars are expensive

I'm just commenting base on what the OP is talking about.

And i am replying based on your comment.. Did apple and Samsung produce phones using generator?

How much was the interest rate in their banks?

walemoney007:
You're daft

Is Samsung phones as expensive as this when they were first release?

Is Apple phones as expensive as this when they were first release?

Do you even know when Apple and Samsung have been making phones?

How many Nigerians can even afford to buy a vehicle of #20m?

If Infinix and Techno choose to start competing with Samsung and Apple do you think they will still be in business?

The likes of Xiaomi that have become a giant today, when they first start making phones, is there phones as expensive as it is today?

As long as you stay online to dictate price for manufacturers, you will never be able to afford it. Those that can afford it are working on their own business, not dicussing other peoples business.

He did not make them for you, and he is not complaining that you cant afford it.

Omihanifa:
I agree absolutely with you. He's just coupling the parts here in Nigeria and selling it as innoson.

You cant afford the parts, why are you complaining about the car?

BeardedmeatR:
It's folks like you that enable non Igbos to deride the superior tribe. I think you should just stay out of this

Until these questions are answered, im going nowhere.

walemoney007:
Some of you on this site are just so stupid.

Im telling you. You guys need help. Why dont you tell APPLE, Samsung etc how much they should sell their phones?

walemoney007:
Innoson vehicles is too expensive.

He is suppose to be making cars that won't be more than #5m

Its an open market you can make yours for 5k. Are you handicapped?

NafeesaAA:
Here is the scam.. This Chinese �� company which listed INNOSON as a subsidiary sells its BJ-80 SUV from 288,000 yuan to 298,000 Yuan, which is equivalent to about ₦20,900,000 to ₦18,400,000, excluding cost of shipping and clearing in Nigeria.

The same INNOSON IVM G80 SUV starts at ₦30,825,000.

Shipping and Clearing from China should not add up to 4m naira on the China market price given you assemble here in Naija, enjoy certain inport waiver and Tax rebate.

But the guy is selling it at 27m - 30 MILLION and smiling to the bank .

It's even cheaper to import the original from China pay Customs than buy the replica assemble Nigeria. This guy is cleverly scamming us.

Chinese knows innoson. Who knows you outside Nairaland?

Even if they sell it for 100 yuan, you still cant afford it.

I prefer to discuss your life objectively. How old are you?

What do you do for a living?

What have you achieved?

What do you produce?

Where are you financially?

Where will you be in the next 10 years?

Who is your father?

Is he known anywhere in Nigeria?

What has he achieved?

What will he achieve?

What about your grand father?

Who was he?

Was he known?

What was he known for?


What about your great grandfather?

Who was he?

Was he known?

What was he known for?

What did he achieve?

Looking at 3 generations of your family? Has anyone achieve 1/10 of what Innosson achieved?

Is Abaribe now a saboteur?

https://independent.ng/sit-at-home-has-chased-businessmen-away-from-southeast-abaribe/

Abaribe just confirmed.

https://independent.ng/sit-at-home-has-chased-businessmen-away-from-southeast-abaribe/

Abaribe now saboteur.

https://independent.ng/sit-at-home-has-chased-businessmen-away-from-southeast-abaribe/