₦airaland Forum Welcome, Guest: Join Nairaland / Login / Trending / Recent / New Stats: 1216837 members, 1597058 topics. Date: Monday, 10 March 2014 at 05:10 PM Presidential Victimization Of Sanusi And The Treasonable Theft Of $20 Billion - Politics - Nairaland Nairaland Forum / Nairaland / General / Politics / Presidential Victimization Of Sanusi And The Treasonable Theft Of $20 Billion (14999 Views) Suspension Of Sanusi: Kano Emirate Women Celebrate / Jonathan: Impeachment Call From APC Is Not Treasonable!! / President Jonathans Speech At Enugu Is Treasonable (1) (2) (3) (4) (0) (1) (2) (3) (4) (Reply) (Go Down) Presidential Victimization Of Sanusi And The Treasonable Theft Of $20 Billion by eGuerrilla(m): 3:41pm On Mar 09 Presidential Victimization Of Sanusi And The Treasonable Theft Of $20 Billion Dollars March 8, 2014 Whether President Goodluck Jonathan decides to victimize, sack or prosecute Sanusi Lamido Sanusi, Nigeria’s sacked Central Bank Chief, the truth is that a $20 billion dollar theft has been exposed and the sheer size of the theft is treasonable, especially with 80 million people living below $10 dollars daily. $20 billion dollars have been stolen, hoarded, hidden and unremitted by some officials of Nigeria National Petroleum Corporation (NNPC) with the connivance of some elements within the presidency. I have made case in the earlier piece released just before Sanusi’s suspension titled ‘Jonathjan, Sanusi, NNPC and the missing ( Stolen) $20 billion Dollars ‘ that “those who connived to withhold the $20 billion dollars include Christians from the Catholic, Anglican, Methodist, White Garment and Pentecostal folds. They also include Muslims from Shia sect, Sunni sect, NASFAT, Boko Haram sect and all groups calling on God or Allah to protect them from the wicked ranting of impoverished unfortunate countrymen about to challenge their divine $ 20 billion dollar breakthrough” All these attempts to tag a N163 billion naira, ( $1 billion dollar) accusations of wasteful and unauthorized spending on Sansui’s head is an attempt to sweep the issue of the stolen billions into the carpet. To cover up a treasonable theft of $20 billion dollars, a kite of reckless use of $ 1 billion dollars was flown about. In 2012 when Hon Farouk Lawan Committee of the lower parliament exposed the theft of $10 billion dollars (N1.7 trillion naira) of petroleum products paid for without being supplied to the Nigerian people, the agents and friends of government pursued Lawan with corruption until they trapped him with bribery of $1 million dollars, and that was how a theft of $ 10 Billion dollars was forgotten. The House of Representatives have confirmed that Nigeria loses $5 billion dollars to oil theft annually. According to the Chairman of the House ad-hoc Committee on Crude Oil Theft, Bashir Adamu, “The level of oil theft is alarming and of grave concern to stakeholders”.. “Illegal bunkering has caused Nigeria to lose an estimated $5 billion (N780 billion) yearly, amounting to $400 billion since Nigeria’s independence. “Statistics show that a total of 350,000 barrels per day was lost to illegal bunkering in 2012, representing an increase of 45 per cent over the figure of 2011, and 67 per cent over that of 2010, while the trend for 2013 is even more alarming”. In Jonathan’s tenure since 2010, it amounts to $20 billion dollars in 4 years. Sanusi’s revelations shows that $20 billion dollars was stolen in eighteen months, it follows that in four years $56 billion dollars would ultimately have missed. Therefore, from this oil business, Nigeria has lost approximately $20 billion dollars to oil theft, $20 billion dollars to subsidy theft of 2011, $20 billion dollars missing funds and probably another $20 billion dollars missing from the previous 18 months not yet exposed. Add the recently exposed $ 7billion dollars fraud in the NNPC Swiss oil deal and the $1 billion dollar Malabu Oil Deal and you get $88 billion dollars stolen in four years. Therefore, when Nigerians stop asking questions on what happened to $88 billion dollars and become interested in how Sanusi allegedly mismanaged $1 billlion dollars, then an Indian charm is working on everybody. Months ago a document allegedly from the Nigerian Customs indicted the Coordinating Minister of Finance, Okonjo Iwuala of granting waivers to the tune of 1.4 trillion naira ( $9 billion Dollars ) between 2011 and 2013 to companies allegedly owned by friends and cronies of government., The Comptroller General of Nigerian Customs, Mr Dikko. Inde Speaking when he appeared before the Joint Senate Committees on Finance and Appropriation said that about N 866 billion was lost to waivers within a 9-month period, including N263.8 billion granted on importation of petroleum products. This is $ 4 billion dollars in nine months alone. Jonathan is yet to issue a query to Mrs Okonjo Iweala on the issue. When the Senate was cross examining her, she admitted granting waiver of over N170 Billion naira. Her bosom friend and Nigeria’s oil minister Dieziani Madueke has more financial infractions than every other government official and no frown has yet come from the government. Therefore, the speed at which Sanusi was thrown away is just an act of victimization for exposing a 20 billion dollar sleaze. To many persons, Sanusi Lamido Sanusi represents many things- To majority of Christians in Nigeria, he is a religious fundamentalist who wanted to impose Islamic Banking on the nation. To some Churches, he is the villain who ordered he freezing of the accounts on accounts of terrorism To some indigenes of Southern parts of Nigeria, he is a suspected Boko Haram sponsor To the Kano Citizens, he is the Best successor to the throne of the Emirship of Kano To International investors, he restored confidence in the Nigerian economy. To stock brokers, he maintained stability in the stock exchange market. To business men, he controlled inflation and brought it to all time low in many years To corrupt bankers, he is the demon who is worse than the EFCC, seeking to retrieve money that is not his father’s To PDP politicians, he is the Lucifer who wants to stop the accumulation of funds to prosecute the 2015 presidential elections. To financially aware depositors, he is the champion who ensured that every fund they deposited in any bank in Nigeria is always available on demand even at huge cost to national treasury. To me, Sanusi Lamido Sanusi is an Islamic Zealot who has a few baggages which has to be tamed and lots of assets which can be of immense help to Nigeria. In a write up I released two years ago titled ‘Sanusi, Ohanaeze and the Timidity of Igbo Public Servants’, I asked Ohanaeze to stop complaining about what Sanusi did for the North, rather they should encourage their Igbo counterpart to do same for their people. It was the most senior Igbo Public Servant in Nigeria that stopped Azubuko Udah from replacing Hafsat Ringim as Inspector General of Police due to Assemblies of God Church local politics. During the period when CBN froze bank accounts of churches, some Christian Bishops and leaders under the aegis of CAN and PFN approached me to do something about Sanusi’s rascality especially over their frozen funds. They believed that as an activist in their midst, there is something I could do that will yield result quicker than the court processes being planned by the National Leadership of Christian Association of Nigeria led by Pastor Ayo Oritsejafor. Therefore, when I released the report on how CBN froze the accounts of churches, CBN under Sanusi spent tens of millions of naira denying the facts on every national daily, radio and television stations. Eventually the churches accounts were opened within twenty four hours from the time the report was released and their harassment by EFCC ceased till today. This however does not mean that Sanusi is all about mischief. Sansui’s greatest achievement is ensuring that the man on the street has access to his money in the bank, anytime he wants it. Sanusi also ensured that that the era of thieving bankers doing business with depositor’s money at the expense of genuine business men came to an end. Sanusi drew people’s attention to monumental corruption among South South Governors at the expense of their people. If Sanusi were to be an Igbo man, he would probably have committed billions towards building or pressurized President Jonathan start and finish the construction of a second Niger Bridge. I wish Sanusi were Igbo, he would have dragged our boot licking politicians to the mud, and attracted infrastructural patronage to the South East. Sanusi is being victimized for exposing another treasonable theft of $20 billion dollars belonging to all Nigerians and people should demand the recovery of the stolen funds because over 80 million Nigerians living below poverty lines need it. Obinna Akukwe Profeobinna2@yahoo Source: theparadigmng/?p=14975 69 Likes Re: Presidential Victimization Of Sanusi And The Treasonable Theft Of $20 Billion by Alishachris: 4:37pm On Mar 09 please God, just one thing I desire and one thing I ask, let nigerian oil dry up asap let all man go rest. The more the oil, the poorer the citizens become and the more the country stinks of corruption. 25 Likes Re: Presidential Victimization Of Sanusi And The Treasonable Theft Of $20 Billion by sammieguze(m): 4:37pm On Mar 09 One rule of the game, eat and let others eat. But the moment you eat urs and blow whistle on others, thats the reward you get. Btw, am nt supporting him or gej fr that. I jst want justice to prevail coz i knw wat we hear is a tip of the ice berg if we knw the true story 9 Likes Re: Presidential Victimization Of Sanusi And The Treasonable Theft Of $20 Billion by slydog(m): 4:39pm On Mar 09 Another N38.23billion Stolen At Nigeria’s Central Bank? By Seyi Olu Awofeso, Abuja. To avoid passing on a key issue of the audit-proved theft of N38.23 billion at the Central Bank of Nigeria – uncovered by the Financial Reporting Council (F.R.C) – longish editorials were gaily written by broad sheet journalists in Nigeria as off-ramp. The writers, for the most part, obliquely avoided this theft issue by conflating it with a totally un-related matter of suspected but yet un-investigated and un-proved scam at the national oil company (NNPC). But when stripped of its pretentious fighting words – signifying nothing – those editorials are but devious escape routes journalists fled through in pretext. The actual facts, as follows, however remain cast in stone. The F.R.C had firstly confronted the Governor of Central Bank at the time (Sanusi Lamido Sanusi) on this N38.23 billion missing in CBN accounts. Sanusi Lamido reflexively chose to weasel out of it in writing to the auditors. Sanusi Lamido admitted a shortfall of N38.23 billion but said he gave the money to MINT; a subsidiary company owned substantially by the Central Bank of Nigeria – but having two other minority shareholders, one based in France. The F.R.C audit surveyors smelled rat and followed the scent. They took the initiative and checked on Sanusi Lamido’s alibi. Eureka, they discovered from MINT’s books of accounts that Sanusi Lamido lied. The auditors saw the gross total business MINT did for hundreds of its customers – including the Central Bank of Nigeria under Sanusi Lamido in the year 2012 – as being just N38.23billion. The F.R.C audit surveyors saw no evidence at all of MINT ever receiving N38.23 billion from Sanusi Lamido which should have reflected in MINT’s annual turnover. The long and the short of it is that till today the N38.23 billion is missing and remains stolen. That stark and simple fact is the elephant in the room. Reacting to this F.R.C audit survey proof, a clutch of Nigerian journalists somewhat un-cleverly weaved words in a spool to blur this theft and never once drew the intelligent inference that a prosecutable theft case of N38.23 billion has occurred at the Central Bank of Nigeria. Not one Nigerian journalist drew that logical inference till date, despite that the F.R.C audit was released to the public since two weeks ago. Whereas, a newspaper as public trust, is improper for use in an intellectual war to defeat one’s own country. A country is one because it has operative laws prohibiting crimes and thefts. It is not the duty of a journalist to undermine those prohibitions by a self-induced trade-off. But not just a few journalists traded off the pursuit of the whole truth – a large swathe of the country’s educated class of lawyers, activists and public commentators also did. On the overall, many Nigerians let themselves down on the Sanusi Lamido case when they delusively saw a clash of principles, when theft at the Central Bank was all there was. Paradoxically, several trees were felled in Nigeria in the last two weeks for journalists to have more reams of paper to foster the delusion with more weasel words by doing all that was un-necessary as if to assure that everyone else will also fail to see the wood for the trees. The Sanusi Lamido case thus exposes a latent but certain illogic in the Nigerian populace with educated Nigerians taking the lead in somersaulting over a stark simple matter. They all but lost their way in the mental web they spun to becloud the sole fact by deeming an audit survey of Central Bank of Nigeria conducted by the F.R.C as having the same credibility as Sanusi Lamido’s own merely verbal say-so that three contradictory figures of money are altogether or separately missing in the national oil company, NNPC. Immediately after finishing that intellectual somersault, the Nigerian commentariat went astray. Most craftily overlooked the audit-proved N38.23 billion theft at Central Bank and instead hollered that there is a likely scam at the NNPC – to detain further criminal processing of an already proved theft at CBN – whereas, the audit of NNPC accounts is yet to start till date, to provide a scintilla of evidence of theft at NNPC. So how can anyone know that a specific of money is (surely) missing in NNPC without audit proof? It beggars belief that supposedly educated Nigerians deem a completed audit of Central Bank as evidentially equal to a verbal allegation by Sanusi Lamido against the NNPC, when quite clearly a verbal allegation is at best mere speculation until tested by NNPC audit investigation which hasn’t started. Indeed, on what documentary facts do Nigerians run to town that $20.8b is surely missing in NNPC as at today? They’ll tell you they have none – except that one Sanusi Lamido said so. Then ask them: what is the reputation of that Sanusi Lamido for honesty? They’ll have no answer after splitting hairs and clutching at straws. Oh, but sensible people don’t do that; they’ll rather assess whose word to take as gospel truth without proof. When Sanusi Lamido said $49.8billion was missing at NNPC last September he apologized for that nonsense only to rebounce within weeks to say $12billion was missing, and without apologizing on why he falsified himself on that $12billion, he inflicted himself on the public, yet again, to say $20billion is the amount missing – all within three months. Is Sanusi Lamido the sort of fellow, in this specific context, that a reasoning person should take for his word? Of course not, but there you have it, with several educated Nigerians blithely quarterbacking Sanusi Lamido’s lack of fidelity to veracity. Now, ask the knaves: ‘this $20.8 billion-is-missing sing-song that you parrot without thought, does it include the $9.8billion the PPPRA confirmed on the Senate floor as lawfully deducted by NNPC under the petrol and kerosene subsidy reimbursement law in force?’ Of course it includes it, according to Sanusi Lamido’s own allegation. So the next question is: did Sanusi Lamido accept that he was in error on that $9.8b component of his $20billion-is-missing claim? Yes, of course, he did admit his error openly on the Senate floor. Now, after deducting Sanusi Lamido’s fourth admitted error of $9.8b from the $20billion he’d alleged missing, what do you get as remainder? The spin-masters in Nigeria say you’ll still get $20billion – and that’s the din they all run to town with today. What a betrayal of education in Nigeria! Some of those running with the din even more daringly say nobody should look into whatever Sanusi Lamido might have pocketed “until the government prosecutes the $20billion theft at NNPC”, but pray, who did Sanusi Lamido say should be specifically prosecuted at NNPC and for what proved and specific amount of money in each culprit’s pocket? Nobody – because Sanusi Lamido himself merely guesses, since only a financial audit can reveal conclusive thefts at NNPC and by whom. The official position today is that Central Bank external auditors who signed off the Central bank’s 2012 annual accounts are to be criminally investigated for complicity if the external auditors did not flag this CBN theft and other financial irregularities in a separate Management report. Secondly, an audit of the NNPC is now to be supervised by the Nigerian Senate, rather than the Ministry of Finance. In advance of that Senate-supervised audit of NNPC, a wise person will not take to the street hollering that a specific amount of money ($20b) is missing in the course of trading business at NNPC. But quite a few Nigerians hardly see that mental contradiction as diminishing themselves for doing the opposite in plainly illogical disorder. In their desultory flit, some educated Nigerians clutch at more straws. They accuse the country’s president, Goodluck Jonathan, of malice for acting on the official report of a statutory body – the F.R.C – without their showing proof that similar audit indictment of theft also exists against a specific person in the NNPC which the government refuses to act on. This particular charge of uneven-handedness dripping in some newspaper editorials is syrupy for conflating a speculation ($20b missing at NNPC) with an established fact N38.23 billion is stolen at the Central Bank), moreso that the audit of NNPC accounts is yet to commence. At any rate, there’s no nexus between the F.R.C audit survey of Central Bank (concluded since February 2013 and notified to Sanusi Lamido in March 2013), and, Sanusi Lamido’s later allegations of likely scam at the NNPC much later in September 2013. No nexus at all. For starters the N38.23 billion stolen at Central Bank of Nigeria is the cash asset of Central Bank. So where does NNPC come in? • If theft is later discovered at NNPC, how will that justify or explain away the theft of N38.23billion un-covered much earlier in February 2013 by the F.R.C? • What does NNPC have to do with the cash assets of Central Bank proved stolen by F.R.C audit survey? • Under what law in Nigeria is the theft of N38.23billion at Central Bank of Nigeria to be overlooked or allowed to stand if theft is later discovered in NNPC? • Is the N38.23billion proved stolen at the Central Bank of Nigeria to be taken free by the thieves, without any obligation to return it, if theft is later discovered at the NNPC? Well, perhaps the red-herring allusion to NNPC in a specific discussion of N38.23 billion theft in Central Bank is all a stalling trick, who knows? But for so long as prosecution follows audit-proved indictment under the law, and for so long as F.R.C specifically demands prosecution in its submitted official report, the odds are that Sanusi Lamido and some other CBN directors will sooner or later be arraigned on at least two criminal counts of stealing contrary to the Penal Code, and, for official false accounting contrary to Nigeria’s Procurement Act (2007). To hope to stall that natural progression of a financial crime indictment by interposing a totally un-related oral allegation that fraud might be occurring in NNPC, but without a beyond reasonable doubt documentary proof, is a no-brainer. By the laws of Nigeria, President Jonathan, powerful as he may consider himself, has no option at this stage but to refer Sanusi Lamido for criminal trial on the missing and stolen N38.23 billion in Central Bank, not least because President Jonathan lacks legal right to forgive either the theft or the loss of public money. Much more than that, it is a criminal offence of ‘compounding a felony’ should President Jonathan attempt to privately settle a financial crime all by himself. And in extent the ‘compounding of a felony’ is itself a crime; it may be a basis for the impeachment of President Jonathan himself in accordance with the 1999 Constitution (as amended to its 3rd alteration), which risk President Jonathan will not like to needlessly run for Sanusi Lamido’s sake. - 35 Likes Re: Presidential Victimization Of Sanusi And The Treasonable Theft Of $20 Billion by garyaustin(m): 4:40pm On Mar 09 no Re: Presidential Victimization Of Sanusi And The Treasonable Theft Of $20 Billion by Emmalex 77(m): 4:40pm On Mar 09 I would see to the unveiling prophesy of this saga Re: Presidential Victimization Of Sanusi And The Treasonable Theft Of $20 Billion by Demdem(m): 4:41pm On Mar 09 Very fair opinion from Obinna. Another sensible Ibo. 25 Likes Re: Presidential Victimization Of Sanusi And The Treasonable Theft Of $20 Billion by Senatorxzibit(m): 4:42pm On Mar 09 Thats sanusi for you,he is a hypocritic religious zealot.he amassed billions while in office,prosecuted top bankers who didnt play balls with him,he created financial channel for boko haram terrorist organisation. 5 Likes Re: Presidential Victimization Of Sanusi And The Treasonable Theft Of $20 Billion by PEN_MIGHT(m): 4:44pm On Mar 09 To me , the name SANUSI will one day become a household name that will be remembered, albeit controversially, for his re-awakening calls and contribution towards the revolution of Nigeria. Names may be maligned, personalities may be victimized but the legacies of a man will stay put in the heart of man. 42 Likes Re: Presidential Victimization Of Sanusi And The Treasonable Theft Of $20 Billion by Black Peni5: 4:45pm On Mar 09 Rubbish...Sanusi blew the whistle only because he didnt want to go down alone. he had been under investigation since April 2013 but only blew his whistle in November 2013. All criminals including Deziani and GEJ if proven guilty must be jailed. 16 Likes Re: Presidential Victimization Of Sanusi And The Treasonable Theft Of $20 Billion by Snoggy(m): 4:45pm On Mar 09 Nothings ever straightforward in this country. Its illegal to be legal in an illegal society. I no blame anybody! 23 Likes Re: Presidential Victimization Of Sanusi And The Treasonable Theft Of $20 Billion by hrmkz: 4:46pm On Mar 09 No time to read the epistle. Sunday is to prepare for the week ahead. 1 Like Re: Presidential Victimization Of Sanusi And The Treasonable Theft Of $20 Billion by eGuerrilla(m): 4:46pm On Mar 09 slydog: Another N38.23billion Stolen At Nigeria’s Central Bank? By Seyi Olu Awofeso, Abuja. To avoid passing on a key issue of the audit-proved theft of N38.23 billion at the Central Bank of Nigeria – uncovered by the Financial Reporting Council (F.R.C) – longish editorials were gaily written by broad sheet journalists in Nigeria as off-ramp. Are you intellectually able to tackle the substantive points raised in that article without falling back on some contrived piece of hogwash served by Awofeso? Included below is one of my earlier posts on this subject: It is becoming increasingly clear to me that the govt overshot itself on this one. Now we know it is Emirate Touch that was contracted to move currency and not Emirates Air as the FRC report erroneously indicates. Arik Air announced it will lease two B737-300s under an ACMI-agreement to a Kano-based cargo airline, Emirate Touch Aviation Services (future website). The two aircraft (5N-MJA and 5N-MJB) are currently stored in the United Kingdom and will be converted to freighters. Apparently, Emirate Touch Aviation also operates a B727F (5N-BNQ), formerly operated by Millennium Air. Source: https://nigerianaviation.wordpress/tag/emirate-touch-aviation We also know the following from the first interview Sanusi gave on his arrival back to Nigeria. SR: Why did you choose to come back to Nigeria, having been accused of financial recklessness...? SLS: First of all, I have always said that if I had anything to hide, I would not be doing the things I did. I have not seen the details of those allegations but some of what I have heard is very ridiculous and funny. And we would obviously - the central bank as an institution - would be able to respond to all of those things, because we have always operated strictly in line with the rule of law. Now when you look at the things happening in this country...a week ago for example, the NNPC came out on National television and agreed to have spent $3.5 Billion on Kerosene subsidy without appropriation... Nobody has called than financial reckless! The Central Bank is audited every year - in fact we have just completed the audit for 2013; we are supposed to submit our audited accounts within 2 months of the end of every financial year. We have a board meeting to approve the audited accounts on the 27th of February, to submit on the 28th. We are audited by PriceWater House Coopers and Ernst and Young. This has been going on since I became governnor. NNPC has not been audited since 2005! Nobody talks about finacial recklessness in NNPC! Since I became governor, I have constantly reduced expenses and operating costs; I have increased operating surplus, Ill give you an example: the year before I became governor in 2008, the central bank contributed N8 Billion to the federal budget. By 2012, I contributed 80 Billion. This year I am contributing 159 Billion - from 2013 - that is 20 times what was being contributed before I became governor.. The issues they are talking about... I saw something about currency expenses...that we said 38 billion and MINT said 20-something... MINT is only one printer of ours! We print currency and import from abroad. So you cannot take what MINT says and declares a revenue..and say that was the entire currency expense of the Central Bank. I am told that I invested 5 million dollars in International Islamic Liquity Management Corporation? I have the written approval of President Jonathan to invest, and I will produce the papers... Question is; how many other spurious claims are contained in the report which has commentators, who are driven by self-serving interests, salivating with glee? 34 Likes Re: Presidential Victimization Of Sanusi And The Treasonable Theft Of $20 Billion by D3nnoSlim: 4:46pm On Mar 09 . Re: Presidential Victimization Of Sanusi And The Treasonable Theft Of $20 Billion by constance500(m): 4:46pm On Mar 09 Who get time to dey read all this poo Re: Presidential Victimization Of Sanusi And The Treasonable Theft Of $20 Billion by FRENZYLO: 4:47pm On Mar 09 sanusi apc zealot 5 Likes Re: Presidential Victimization Of Sanusi And The Treasonable Theft Of $20 Billion by Mr Aboki(m): 4:48pm On Mar 09 Ofcourse... 1 Like Re: Presidential Victimization Of Sanusi And The Treasonable Theft Of $20 Billion by lil wheezy(m): 4:48pm On Mar 09 Fp Tinz We know who the thieves are ... They just want to spoil the name of my fav aboki ... 5 Likes Re: Presidential Victimization Of Sanusi And The Treasonable Theft Of $20 Billion by Garri the 1st: 4:50pm On Mar 09 I wish Sanusi were Igbo, he would have dragged our boot licking politicians to the mud, and attracted infrastructural patronage to the South East. Well said.... cheesy 12 Likes Re: Presidential Victimization Of Sanusi And The Treasonable Theft Of $20 Billion by zuma4k(m): 4:50pm On Mar 09 We all know whats wong with Nigeria 2 Likes Re: Presidential Victimization Of Sanusi And The Treasonable Theft Of $20 Billion by eGuerrilla(m): 4:51pm On Mar 09 FRENZYLO: sanusi apc zealot Here is another one who lacks the ability to add meaningful substance to this debate. 19 Likes Re: Presidential Victimization Of Sanusi And The Treasonable Theft Of $20 Billion by bettercreature: 4:52pm On Mar 09 Theyve successfully diverted attention from the stolen $20 billion to fuel scarcity Abeg make them keep the $20 billion and stop hoarding fuel to punish the masses 12 Likes Re: Presidential Victimization Of Sanusi And The Treasonable Theft Of $20 Billion by lindaone: 4:52pm On Mar 09 Why did you choose to come back to Nigeria, Re: Presidential Victimization Of Sanusi And The Treasonable Theft Of $20 Billion by JayJohnson: 4:53pm On Mar 09 Pastor Reno Omokir=Wendel Simlin= Beaf=Sincere9geria=Slydog? slydog: Another N38.23billion Stolen At Nigeria’s Central Bank? By Seyi Olu Awofeso, Abuja. To avoid passing on a key issue of the audit-proved theft of N38.23 billion at the Central Bank of Nigeria – uncovered by the Financial Reporting Council (F.R.C) – longish editorials were gaily written by broad sheet journalists in Nigeria as off-ramp. The writers, for the most part, obliquely avoided this theft issue by conflating it with a totally un-related matter of suspected but yet un-investigated and un-proved scam at the national oil company (NNPC). But when stripped of its pretentious fighting words – signifying nothing – those editorials are but devious escape routes journalists fled through in pretext. The actual facts, as follows, however remain cast in stone. The F.R.C had firstly confronted the Governor of Central Bank at the time (Sanusi Lamido Sanusi) on this N38.23 billion missing in CBN accounts. Sanusi Lamido reflexively chose to weasel out of it in writing to the auditors. Sanusi Lamido admitted a shortfall of N38.23 billion but said he gave the money to MINT; a subsidiary company owned substantially by the Central Bank of Nigeria – but having two other minority shareholders, one based in France. The F.R.C audit surveyors smelled rat and followed the scent. They took the initiative and checked on Sanusi Lamido’s alibi. Eureka, they discovered from MINT’s books of accounts that Sanusi Lamido lied. The auditors saw the gross total business MINT did for hundreds of its customers – including the Central Bank of Nigeria under Sanusi Lamido in the year 2012 – as being just N38.23billion. The F.R.C audit surveyors saw no evidence at all of MINT ever receiving N38.23 billion from Sanusi Lamido which should have reflected in MINT’s annual turnover. The long and the short of it is that till today the N38.23 billion is missing and remains stolen. That stark and simple fact is the elephant in the room. Reacting to this F.R.C audit survey proof, a clutch of Nigerian journalists somewhat un-cleverly weaved words in a spool to blur this theft and never once drew the intelligent inference that a prosecutable theft case of N38.23 billion has occurred at the Central Bank of Nigeria. Not one Nigerian journalist drew that logical inference till date, despite that the F.R.C audit was released to the public since two weeks ago. Whereas, a newspaper as public trust, is improper for use in an intellectual war to defeat one’s own country. A country is one because it has operative laws prohibiting crimes and thefts. It is not the duty of a journalist to undermine those prohibitions by a self-induced trade-off. But not just a few journalists traded off the pursuit of the whole truth – a large swathe of the country’s educated class of lawyers, activists and public commentators also did. On the overall, many Nigerians let themselves down on the Sanusi Lamido case when they delusively saw a clash of principles, when theft at the Central Bank was all there was. Paradoxically, several trees were felled in Nigeria in the last two weeks for journalists to have more reams of paper to foster the delusion with more weasel words by doing all that was un-necessary as if to assure that everyone else will also fail to see the wood for the trees. The Sanusi Lamido case thus exposes a latent but certain illogic in the Nigerian populace with educated Nigerians taking the lead in somersaulting over a stark simple matter. They all but lost their way in the mental web they spun to becloud the sole fact by deeming an audit survey of Central Bank of Nigeria conducted by the F.R.C as having the same credibility as Sanusi Lamido’s own merely verbal say-so that three contradictory figures of money are altogether or separately missing in the national oil company, NNPC. Immediately after finishing that intellectual somersault, the Nigerian commentariat went astray. Most craftily overlooked the audit-proved N38.23 billion theft at Central Bank and instead hollered that there is a likely scam at the NNPC – to detain further criminal processing of an already proved theft at CBN – whereas, the audit of NNPC accounts is yet to start till date, to provide a scintilla of evidence of theft at NNPC. So how can anyone know that a specific of money is (surely) missing in NNPC without audit proof? It beggars belief that supposedly educated Nigerians deem a completed audit of Central Bank as evidentially equal to a verbal allegation by Sanusi Lamido against the NNPC, when quite clearly a verbal allegation is at best mere speculation until tested by NNPC audit investigation which hasn’t started. Indeed, on what documentary facts do Nigerians run to town that $20.8b is surely missing in NNPC as at today? They’ll tell you they have none – except that one Sanusi Lamido said so. Then ask them: what is the reputation of that Sanusi Lamido for honesty? They’ll have no answer after splitting hairs and clutching at straws. Oh, but sensible people don’t do that; they’ll rather assess whose word to take as gospel truth without proof. When Sanusi Lamido said $49.8billion was missing at NNPC last September he apologized for that nonsense only to rebounce within weeks to say $12billion was missing, and without apologizing on why he falsified himself on that $12billion, he inflicted himself on the public, yet again, to say $20billion is the amount missing – all within three months. Is Sanusi Lamido the sort of fellow, in this specific context, that a reasoning person should take for his word? Of course not, but there you have it, with several educated Nigerians blithely quarterbacking Sanusi Lamido’s lack of fidelity to veracity. Now, ask the knaves: ‘this $20.8 billion-is-missing sing-song that you parrot without thought, does it include the $9.8billion the PPPRA confirmed on the Senate floor as lawfully deducted by NNPC under the petrol and kerosene subsidy reimbursement law in force?’ Of course it includes it, according to Sanusi Lamido’s own allegation. So the next question is: did Sanusi Lamido accept that he was in error on that $9.8b component of his $20billion-is-missing claim? Yes, of course, he did admit his error openly on the Senate floor. Now, after deducting Sanusi Lamido’s fourth admitted error of $9.8b from the $20billion he’d alleged missing, what do you get as remainder? The spin-masters in Nigeria say you’ll still get $20billion – and that’s the din they all run to town with today. What a betrayal of education in Nigeria! Some of those running with the din even more daringly say nobody should look into whatever Sanusi Lamido might have pocketed “until the government prosecutes the $20billion theft at NNPC”, but pray, who did Sanusi Lamido say should be specifically prosecuted at NNPC and for what proved and specific amount of money in each culprit’s pocket? Nobody – because Sanusi Lamido himself merely guesses, since only a financial audit can reveal conclusive thefts at NNPC and by whom. The official position today is that Central Bank external auditors who signed off the Central bank’s 2012 annual accounts are to be criminally investigated for complicity if the external auditors did not flag this CBN theft and other financial irregularities in a separate Management report. Secondly, an audit of the NNPC is now to be supervised by the Nigerian Senate, rather than the Ministry of Finance. In advance of that Senate-supervised audit of NNPC, a wise person will not take to the street hollering that a specific amount of money ($20b) is missing in the course of trading business at NNPC. But quite a few Nigerians hardly see that mental contradiction as diminishing themselves for doing the opposite in plainly illogical disorder. In their desultory flit, some educated Nigerians clutch at more straws. They accuse the country’s president, Goodluck Jonathan, of malice for acting on the official report of a statutory body – the F.R.C – without their showing proof that similar audit indictment of theft also exists against a specific person in the NNPC which the government refuses to act on. This particular charge of uneven-handedness dripping in some newspaper editorials is syrupy for conflating a speculation ($20b missing at NNPC) with an established fact N38.23 billion is stolen at the Central Bank), moreso that the audit of NNPC accounts is yet to commence. At any rate, there’s no nexus between the F.R.C audit survey of Central Bank (concluded since February 2013 and notified to Sanusi Lamido in March 2013), and, Sanusi Lamido’s later allegations of likely scam at the NNPC much later in September 2013. No nexus at all. For starters the N38.23 billion stolen at Central Bank of Nigeria is the cash asset of Central Bank. So where does NNPC come in? • If theft is later discovered at NNPC, how will that justify or explain away the theft of N38.23billion un-covered much earlier in February 2013 by the F.R.C? • What does NNPC have to do with the cash assets of Central Bank proved stolen by F.R.C audit survey? • Under what law in Nigeria is the theft of N38.23billion at Central Bank of Nigeria to be overlooked or allowed to stand if theft is later discovered in NNPC? • Is the N38.23billion proved stolen at the Central Bank of Nigeria to be taken free by the thieves, without any obligation to return it, if theft is later discovered at the NNPC? Well, perhaps the red-herring allusion to NNPC in a specific discussion of N38.23 billion theft in Central Bank is all a stalling trick, who knows? But for so long as prosecution follows audit-proved indictment under the law, and for so long as F.R.C specifically demands prosecution in its submitted official report, the odds are that Sanusi Lamido and some other CBN directors will sooner or later be arraigned on at least two criminal counts of stealing contrary to the Penal Code, and, for official false accounting contrary to Nigeria’s Procurement Act (2007). To hope to stall that natural progression of a financial crime indictment by interposing a totally un-related oral allegation that fraud might be occurring in NNPC, but without a beyond reasonable doubt documentary proof, is a no-brainer. By the laws of Nigeria, President Jonathan, powerful as he may consider himself, has no option at this stage but to refer Sanusi Lamido for criminal trial on the missing and stolen N38.23 billion in Central Bank, not least because President Jonathan lacks legal right to forgive either the theft or the loss of public money. Much more than that, it is a criminal offence of ‘compounding a felony’ should President Jonathan attempt to privately settle a financial crime all by himself. And in extent the ‘compounding of a felony’ is itself a crime; it may be a basis for the impeachment of President Jonathan himself in accordance with the 1999 Constitution (as amended to its 3rd alteration), which risk President Jonathan will not like to needlessly run for Sanusi Lamido’s sake. - 4 Likes Re: Presidential Victimization Of Sanusi And The Treasonable Theft Of $20 Billion by Deiok: 4:54pm On Mar 09 Yes he was by jona and his toothless dogs. Re: Presidential Victimization Of Sanusi And The Treasonable Theft Of $20 Billion by Theloveth(m): 4:55pm On Mar 09 See that man posting another counter news after the main news,those type of guys are the real problem of Nigeria.Always trying to defend blindly without reason. 10 Likes Re: Presidential Victimization Of Sanusi And The Treasonable Theft Of $20 Billion by rudedough(m): 4:55pm On Mar 09 Demdem: Very fair opinion from Obinna. Another sensible Ibo. Anybody can bear any name on the internet. Prove that his real name is Obinna. You Yorubas dont get tired of impersonating Ndi-Igbo. We dont have tiger clawed face, please stop the impersonation, its becoming an embarrassment. 9 Likes Re: Presidential Victimization Of Sanusi And The Treasonable Theft Of $20 Billion by eGuerrilla(m): 4:57pm On Mar 09 rudedough: Anybody can bear any name on the internet. Prove that his real name is Obinna. You Yorubas dont get tired of impersonating Ndi-Igbo. We dont have tiger clawed face, please stop the impersonation, its becoming an embarrassment. Another truth denier! Obinna had a truck load of articles on the internet, which cover a plethora of issues. 25 Likes Re: Presidential Victimization Of Sanusi And The Treasonable Theft Of $20 Billion by Samsantos9(m): 4:58pm On Mar 09 @The bolded in purple So since hes not from the south-south or south-east he cant reveal the looters/thieves from that region Btw how many corrupt politicians has he revealed from the North? Although I dont support the actions of the fg, I still feel Sanusi is not blameless, hes also corrupt. 1 Like Re: Presidential Victimization Of Sanusi And The Treasonable Theft Of $20 Billion by Samsantos9(m): 4:58pm On Mar 09 .. Re: Presidential Victimization Of Sanusi And The Treasonable Theft Of $20 Billion by fattbabakay(m): 4:58pm On Mar 09 I cant read all dat....can som1 summarise?? 1 Like
Posted on: Mon, 10 Mar 2014 16:14:42 +0000
Trending Topics
Recently Viewed Topics
© 2015