On my radar: US$ exchanging for N165 to N170 in some places. Too early to tell as economic activity in 2012 has been low. Additionally Govt revenue is still coming in.

Labour-Govt engagement and its outcome should impact the US/N rate.

We will cut down on Govt Travelling - GEJ

If that's true then how come "Parasite" Jonathan flew out today.

Definition of parasite: A person who habitually relies on or exploits others and gives nothing in return.

^^^^^^^^^

Frosbel said:
He was arrested by the UK Authorities, so how did you come to the conclusion that this was a UK Government inspired move.

Can the UK control the behaviour of a UK businessman operating out of China.

Let us analysis this story logically please.

Thanks.

I think in your haste to post you came to a wrong conclusion. Nowhere did I say the UK govt conspired with anyone, I merely observed that his charge is "profit concealment". 

If you do a few quick google searches you may notice that normally implies "tax avoidance".  The sale may well be legitimately to Nigeria's Security Services.

If he had paid his taxes, would he have been under the spotlight?

The UK or any other country is not going to look after Nigeria or the nation states within Nigeria, it is left to us to resolve our issues.

There are no permanent friends, only permanent interests, Seems the UK's concern was just that he did not pay his taxes on the concealed profit.

Profits 'concealed'
Prosecutor Mukul Chawla QC told the jury his actions were a "deliberate and calculated breach of the law".

"In order to ensure that his criminality, his illegal activities were not drawn to the attention of the UK authorities, he placed and thus concealed profits from his illegal trade into his bank account in Liechtenstein."

North Yorkshire arms dealer 'arranged gun shipment'

A British-based arms dealer helped organise the shipment of thousands of guns from China to Nigeria without the necessary licence, a court has heard.

Gary Hyde partly arranged and organised the shipment in 2007 of 80,000 rifles and pistols and 32 million rounds of ammunition.

Southwark Crown Court heard he did not receive permission from the relevant government department.

Mr Hyde, from Derwent near York, denies the charges.

The court was told the shipment involved 40,000 AK47 assault rifles, 30,000 rifles and 10,000 9mm pistols.

Profits 'concealed'
Prosecutor Mukul Chawla QC told the jury his actions were a "deliberate and calculated breach of the law".

"In order to ensure that his criminality, his illegal activities were not drawn to the attention of the UK authorities, he placed and thus concealed profits from his illegal trade into his bank account in Liechtenstein."

Mr Chawla said the shipment required permission from the relevant government authority because it had been partly arranged and organised from the UK by Mr Hyde.

The prosecutor told the jury Mr Hyde had made a statement through his solicitor in November 2009 which said: "I do not believe that I engaged in any activity in the UK which I understood required a licence but where instead I decided to ignore that obligation."

Middle men
Mr Chawla said: "The prosecution case is that the claim that he made in November 2009 is palpably false and that Mr Hyde deliberately engaged in activity within the UK which required a licence."

Mr Hyde carried out his part in the deals with his business partner Karl Kleber, a German national based in Germany, the court was told.

The pair acted as middle men between two Polish companies acting for the Nigerian buyers and Chinese companies, the court heard.

Mr Chawla said commission payments for the deals totalled around $1.3m (£840,000).

The trial continues.

Source: http://www.bbc.co.uk/news/uk-england-york-north-yorkshire-16491412

Primary Findings

The Developing World lost US$903 billion in illicit outflows in 2009, despite the massive financial crisis which rocked the global economy in late 2008. The capital outflows stem from crime, corruption, tax evasion, and other illicit activity.

The report finds that the the vast majority of the drop from US$1.55 trillion to US$903 billion was due to a decrease in volumes of international trade, foreign direct invest, and new external loans, rather than any government action. From 2000 to 2009, developing countries lost US$8.44 trillion to illicit outflows.

Conservatively estimated, Illicit flows increased in current dollar terms by 14.9 percent per annum from the beginning until the end of the decade. Real growth of illicit flows by regions over the nine years is as follows:

Africa 22.3 percent,
Middle East and North Africa (MENA) 19.6 percent,
developing Europe 17.4 percent,
Asia 6.2 percent, and
Western Hemisphere 4.4 percent.
Asia accounted for 44.9 percent of total illicit flows from the developing world followed by Middle East and North Africa (18.6 percent), developing Europe (16.7 percent), Western Hemisphere (15.3 percent), and Africa (4.5 percent).

Top 10 countries with the highest measured cumulative illicit financial outflows between 2000 and 2009 were:

China: $2.74 trillion
Russia: $504 billion
Mexico: $501 billon
Saudi Arabia: $380 billion
Malaysia: $350 billion
United Arab Emirates: $296 billion
Kuwait: $271 billion
Nigeria: $182 billion
Venezuela: $179 billion
Qatar: $130 billion

IFF Drivers & Trends
Trade mispricing was found to account for an average of 53.9 percent of cumulative illicit flows from developing countries over the period 2000-2008 and is the major channel for the transfer of illicit capital from China.

Despite the global financial crisis and overall decreased levels of illicit financial flows, several countries saw large increases in illicit financial flows. Among these, Poland, Saudi Arabia, Iran, Turkey and Panama each saw large increases in outflows.

China continued to lead the world in illicit outflows, losing US$291.8 billion in 2009.
Asia accounted for the largest portion of illicit financial flows from the developing world. Over the ten-year period examined, 90 percent, on average, of total illicit flows from Asia were transferred abroad through trade mispricing.

Over the decade, illicit outflows from Africa clearly out paced the rest of the world, with a growth rate of 32.5 percent between 2000 and 2009, compared with 9.7 percent for Europe and 7.7 percent for Asia, possibly due to weaker customs monitoring and enforcement regimes.

Bribery, kickbacks, and the proceeds of corruption continue to be the dominant channel for the transfer of illicit funds from MENA, developing Europe, while trade mispricing is the clear primary channel out of Asia and the Western Hemisphere.

Source:http://iffdec2011.gfintegrity.org/

Another source for the numbers above: http://www.hintsonlinemagazine.com/nigerian-army-steps-curb-insecurity-released-hot-line/

Hi Mods, can this make the front page please:

https://www.nairaland.com/nigeria/topic-844318.0.html

It could potentially save some lives.

^^^^^^^

A very huge cause for alarm, our security forces need to step up.

There is no ranting, ok. So stop the silly comments. The analysis shown so far is flawed.

FGN has also said the N1.3trillion includes arrears from earlier years. If this is the case then the simple calculations I have seen on this thread do not take the arrears into account and neither do they take the amount of crude refined locally.

Furthermore NNPC does SWAP deals with our suppliers so there is a "net" figure which has not been reflected.

Army - No Cause for Alarm Over North, South Attacks

The army headquarters in Abuja yesterday said there is no immediate cause for concern on the alleged reports of attack on northerners in southern Nigeria.

The reports being circulated of possible attacks on northerners in the south and vice versa has caused anxiety as well as exodus of people from both regions.

The Director of Army Public Relations, Major General Raphael Isa said there 'was no cause for concern' over attacks and rumor being circulated is baseless. "A total of 20 quick response patrol teams recently trained in counter terrorism and counter insurgence have been deployed along major highways and designated places. The teams will assist the various task forces deployed by the military in some places as well as keep away attacks on the people."

He said a recent military operation in Yobe state led to the destruction of weapons store belonging to the Boko Haram sect. "Also, soldiers raided a hideout in Pompo Mari area and recovered 40 small arms." He said another operation led to the recovery of 32 assorted guns and 339 ammunition.

The director said distressed people should call the leaders of the quick response teams

The telephone numbers under:

Army 1 division are

Katsina-Funtua-Zaria Captain UB Mai-Garba 08100126396, 08033635367,

Zaria-Pambegwa-Saminaka-Jos Lieutenant Colonel MF Babayo 08073041478, 08122862332,

Abaji-Lokoja-Okene Lieutenant Colonel Edet Effion 08100126463, 08052336103,

Kano-Kaduna-Jere [/b]Major SA Atto 08034527209 and Kaduna-Kachia-Forest Lieutenant Colonel PY Haruna 08135976721.

In 3 division the numbers to call are:

[b]Bauchi-Darazo Major MT Yunusa 08065843549, Lieutenant Igoniware 07085392347,

Jos-Toro-Bauchi-Gombe Second Lieutenant Ali Baba 07083519298,

Potiskum-Damaturu-Maiduguri [/b]Captain Ama 08059116439,

[b]Gombe-Biu-Dambua-Maiduguri Lieutenant Wemida 08100126402 and

Gombe-Kaltungo-Numan-Yola Captain Arogundade 08031109572.

Teams under 82 division are:

Enugu-Awka-Onitsha-Owerri Lt. Colonel IU Akpan 07037055354 and

Enugu-Umuahia-Abia-Port Harcourt Lieutenant Colonel AT Lawal 08039550987.

Source:http://allafrica.com/stories/201201110727.html

Before we all break out in civil war consider this: Rwanda - Tutsi vs Hutu

The Rwanda president's plane (he was Hutu) was shot down.  This was the key and final trigger before the genocide of the Tutsi. 

Now many years after, CNN reports that it was a Hutu supporter that shot down the Hutu president's plane.

Paris (CNN) -- The missile that brought down the plane carrying the president of Rwanda more than 17 years ago was fired from a camp controlled by his own ethnic group and not by Tutsi rebels, attorneys for the rebels said Wednesday.

The April 1994 crash of the plane near the capital, Kigali, and the death of then-President Juvenal Habyarimana, a member of the Hutu majority, was followed hours later by the start of mass killings. By the time they ended 100 days later, 800,000 people had died.
Most of the dead were members of the country's Tutsi minority, who were killed by Hutus.

The killing of Tutsis and moderate Hutus by Hutu militants ended when the Rwandan Patriotic Front -- composed of Tutsis under the leadership of current President Paul Kagame -- halted the Hutu militants.

Also on board the plane was then-Burundi President Cyprian Ntayamira. Ntayamira was also a Hutu.
A report on the plane attack -- written as part of a French judicial investigation -- has not been released publicly. However, officials said experts appointed by French Judges Marc Trevidic and Nathalie Poux had identified Kanombe Military Barracks as the site from which the rocket was launched.

The Kanombe camp at the time was controlled by "Hutu extremists in the former Rwandan army and their European advisers," said Bernard Maignain and Leon-Lef Forster, attorneys for the Rwandan Patriotic Front, in a statement. "The responsibility of the RPF in the attack is therefore dismissed."
The experts and judges traveled to Rwanda in September 2010 to view the scene of the attack, the attorneys said. Once there, they had the opportunity to conduct field surveys and simulations, and "they could also hear eyewitnesses who saw or heard the firing of missiles.

"It is clear from their analysis that the probable location of firing was strictly inaccessible at the time to the men of the RPF," Maignain and Forster said.
In 2006, French Judge Jean-Louis Bruguiere, who was previously in charge of the investigation, requested arrest warrants against nine Rwandan nationals belonging to the RPF, according to Maignain and Forster. Seven people are still "under investigation," they said, but they also accused the former judge of dismissing all evidence suggesting the RPF might not have been the perpetrators of the attack.
The latest report, the attorneys noted, is a "turning point."

The French Foreign Ministry declined to comment on the report, saying it was part of a judicial investigation started because the crew members of the downed plane were French.
Asked about the Rwandan opposition's request for an international inquiry into the report, the ministry said France supports the International Criminal Tribunal for Rwanda as a means to shed light on the Rwandan killings.
Rwanda's government welcomed the report.

"The crash served as an excuse for key perpetrators to execute a meticulously planned genocide against the Tutsi," the government's Ministry of Foreign Affairs and Cooperation said in a statement.
The plane, which was struck as it prepared to land at Kigali International Airport, was bringing Habyarimana home from negotiations over the Arusha peace accords, which had created a power-sharing government between rebels and the Rwandan government.

"Today's findings constitute vindication for Rwanda's long-held position on the circumstances surrounding events of April 1994," said Louise Mushikiwabo, foreign minister and government spokeswoman, in the statement.
"With this scientific truth, Judges Trevidic and Poux have slammed shut the door on the 17-year campaign to deny the genocide or blame its victims. It is now clear to all that the downing of the plane was a coup d'etat carried out by extremist Hutu elements and their advisers who controlled Kanombe Barracks."

Source: http://edition.cnn.com/2012/01/11/world/africa/rwanda-president-plane/index.html?hpt=iaf_c1

omanzo02:

Dude,
Yes, western europe where I am have excellent working public mass transit, I think Nigeria could take a cue from country like Turkey that operate excellent private/individual mass transit as obtainable in Nigeria, with affordable prices and dependable.

The problem with Nigeria is the quick fix , copy and paste syndroom, we should learn how to develope and innovating what we have.

You have not answered my question. Which country do you live in that does not have a social security system. Turkey which you mentioned has unemployment insurance.

You then go on to contradict yourself. We should not copy and paste then why did you talk about where you live and Nigeria emulating such.

Like I said, you are a stooge.

GEJ can end all this by making the "cabal" go to jail, but he lacks the liver and the guts. Abeg make somebody give am liver.

Pray tell, which first class economy do you live in that does not have "social welfare", a fully working public mass transit system and a responsive and responsible government.

I do believe you are a stooge, I may be wrong but it is my belief.

Removal of fuel subsidy can lead to a price shock. 

Petrol, fuel and energy are the lifeblood of Nigeria's economy. In the absence of any meaningful infrastructure the masses have to provide for themselves, generators, okada, danfo etc.

Because the masses provide for themselves our economy is extremely sensitive to changes to energy prices.

A N1 increase in petrol or energy cost can lead to an equal N1 increase in other goods and services.

These increases are not really justified by "logic" but can be explained by behavioural economics. That is human behaviour acting in a personal interest but against the good of all and also in the end against their own interests.

Prices have doubled on a lot of consumable goods since Jan 1st.

Whilst this may be a one time price shock, it is too early to tell where inflation will settle.

Capital expenditure normally refers to creating, constructing, improving or transforming an asset, infrastructure or buildings.

Recurrent expenditure typically refers to payment of overheads, salaries, miscellaneous expenses, travelling, entertainment, food.

Capital expenditure should see assets being constructed which have a medium term life time.

Recurrent expenditure happens every year and normally refers to and for payments to civil servants, politicians and their aides. 

When recurrent expenditure is too high then it means civil servants and politicians may have a lot of money to spend.  With a lot of money to spend politicians can outspend anybody.  By outspending anybody politicians push up the price of goods and services.  Higher prices leads to inflation.

Spending on recurrent expenditure without any limits ends up in the debt burden increasing as human want is unlimited. This human want will outspend GDP and lead to the country borrowing.

Can we get a source, even if it is eye witness account please back it up with credible links.

As an opposition candidate then Bakare should be careful in his utterances. If Bakare said that then he is wrong and should know he is on thin ice wishing death on anyone.

But SS is not protesting, especially as Ngozi (who I used to respect) is Delta Igbo. At least that's what Nairaland internet warriors have been screaming.

@Evil brain

1) The US, UK have both seen population growth in their lower class populations. These are the majority of people who rely on such social voucher schemes. I wouldn't want to see its effect in Nigeria especially if it gets enshrined in the masses mentality.

2) Ethnic tensions
The Ijaws and other minority groups are smaller than the majority groups however the voucher scheme would be funded by Abuja. Abuja's income is from Oil and gas (offshore and onshore). A voucher scheme that makes the connection and payment transperant will be easily cross referenced to geopolitical zones. MEND etc will not be smiling to see huge amounts based on head count and population.

3) The Fulani and Igbo ethnic groups are migratory. Fulani for cultural reasons whereas Igbos for trade. While I believe the Igbo ethnic group will be able to overcome this as once they move to a region they quickly establish, I am unsure of the Fulany ethnic group members that may be that may migrate and do not take kindly to being counted, registered etc.

Voters registration is not the same as registering for cash receipt purposes. Also what is the literacy rate amongs women in the North - it is very poor so they may be at a disadvantage.

My opinion.

If you don't praise how would he know when he is near the right track.

I think the trick is to mix it up. Praise and castigation but feedback always. It is like a child learning to walk at a very very late age.

At Elderlolo the details of the successor companies are on Page 5 of this thread. Very early days still.

Investors have been frustrated by the slow pace - the process has been ongoing since OBJ.  They have resorted to cajoling the administration and there is some fear that a new cabal could spring up. The issue of tariffs and pricing is a major obstacle as it could get political very quickly.

Also a bottleneck is there is still only one "transmission" company and no one knows the true quality of the assets nor the number of skilled and suitably qualified employees.  There are also unrealistic price expectations for the assets been sold.  A challenge, but some progress is being made.

Behind schedule but a good move, hopefully no new "cabals" will spring up.  As I understand it the "subsidy" on power is being removed as tariffs rise to international market rates. Although reports on my radar are that power generation may not increase by much this year.  The lower generation by the govt is expected to be bridged by Independent Power Producers - Good work GEJ if you can get the power sector even slightly better or slightly less bad.  

It is good to be critical of GEJ, but there is some progress being made in some areas.  Hopefully Power supply is one.

The successor companies are here for all to see: http://www.nercng.org/index.php?option=com_contact&catid=44&Itemid=68

From the below table:

1 Power Transmission Company

6 Power Generation companies

11 Power Distribution companies

18 Successor companies in total


Note: where it states capacity, that column includes region.

That Prof Wole Soyinka account is not Wole Soyinka. It is a parody account set up by someone else.

Coward

@umechuma

You truly are bitter and twisted to be supporting the death of any body.  I mourned the death of the innocent Christians killed throughout last year, on Christmas Day 2011 and also last week.  I also mourn the death of innocent northerners killed by cowards.

Boko Haram is an organisation filled with cowards, the people who did this deed are just as cowardly as Boko Haram.  You for supporting the works of cowards are lower than a coward.  You are a coward's coward.

The focus today is on cowardly and terrible governance. So do not distract this thread.

alj harem:

translation

There was  an attacked on Hausa residents of the city of Benin in Edo state  Southern Nigeria. About ten people and affected badly as a result of a bombing, while the ruin a Mosque. Now the Hausas they live in Exile In camps police and military in Benin.

Al Harem,

Thanks for the translation, a real pity and a shame.  I really do not know what GEJ's objective is, surely one man cannot be this foolish.