Articles by "TREASURY LOOTING"
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The Federal Government on Monday painted graphic details of the monumental corruption that rocked country in the past, declaring that 55 privileged Nigerians stole N1.34 trillion from the treasury between 2006 and 2013.

The period in question covered the last three administrations of former President Olusegun Obsanjo, late Umar Musa Yar’adua and Goodluck Jonathan.


The Minister of Information and Culture, Alhaji Lai Mohammed, who made the disclosure at a briefing with the media House Bureau Chiefs in Abuja, said all the 55 are in court facing trial.



He appealed to the judiciary to help speed up the cases.

He said, “The situation is dire and the time to act is now. For example, between 2006 and 2013, just 55 people allegedly stole a total of N1.34 trillion in Nigeria. That’s more than a quarter of last year’s national budget! Out of the stolen funds, 15 former governors allegedly stole N146.84 billion, four former ministers allegedly stole N7billion, 12 former public servants, both at federal and state levels, allegedly stole over N14billion, eight people in the Banking Industry allegedly stole N524billion and 11 businessmen allegedly stole N653 billion.

“Now, what do these figures translate to in the actual sense? In other words, what is the cost of these stolen funds for Nigerians? Using World Bank Rates and Costs, one third of the stolen funds could have provided 635.18 kilometres of road, built 36 ultra modern hospitals, that is one ultra modern hospital per state, built 183 schools, educated 3,974 children from primary to tertiary level at 25.24 million per child and built 20,062 units of 2-bedroom houses.”

He also described reports that the current anti-corruption war was lopsided as erroneous and nauseating.

He added, “There is the erroneous impression out there that the war against corruption is a vendetta against the opposition, and that it is one-sided. This is not true and indeed very nauseating.

“This is the money that a few people, just 55 in number, allegedly stole within a period of just eight years. And instead of a national outrage, all we hear are these nonsensical statements that the government is fighting only the opposition, or that the government is engaging in vendetta.”
January 18, 2016
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BY UMAR YUSUF

YOLA – Piqued by the incessant attacks by Boko Haram insurgents in the states of Adamawa, Borno and Yobe, Gov Murtala Nyako, has called for a more proactive measures to stem the tide.

Nyako told newsmen in Yola Thursday over recent attacks in the affected states, that the authorities needed to do more to allay the fears of the public who have started getting tired of excuses.
A survivor of the Yobe massacre. Courtesy: Sahara Reporters.

A survivor of the Yobe massacre. Courtesy: Sahara Reporters.

The Governor revealed that people were agitated and might start coming out to demonstrate their displeasure with the ways things were deteriorating in the affected areas.

According to him, the authorities needed to know the people funding the insurgents and why the steady attacks on the populace even with the state of emergency in place.
February 28, 2014
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An Ikeja High Court on Thursday fixed March 3 for its ruling on an application filed by Fred Ajudua.
Ajudua, in the application, is asking the court to quash the N1 billion fraud charge preferred against him by the Economic and Financial Crimes Commission (EFCC).
Justice Oluwatoyin Ipaye fixed the date after hearing arguments from both the EFCC and Ajudua’s counsel on whether the charge should be dismissed.
Ajudua is being prosecuted for defrauding a former Chief of Army Staff, Lt.-Gen. Ishaya Bamaiyi, of about $5.9 million (about N1 billion).
Moving the preliminary notice of objection, Ajudua’s counsel, Mr Olalekan Ojo, said the 14-count charge against his client was made under a repealed law.
Ojo said the defendant was charged under the Advance Fee Fraud and Other Fraud Related Offences Act of 1995 as amended by Act No.62 of 1999.
“It is my submission that a charge made under a repealed law is fundamentally defective and liable to be quashed.
“There is no legally convincing charge before Your Lordship that will allow the court to exercise any form of jurisdiction on this matter,’’ he said.
Ojo said that Bamaiyi, in his petition to the EFCC, had disclosed self-confession to various crimes including conspiracy, aiding and abetting, money laundering and corrupting of public officers.
“As a court with zero tolerance for illegality and corruption, Your Lordship has the inherent power to refer this admitted violation of the money laundering legislation to the appropriate authorities for investigation and possible prosecution,’’ he said.
Responding, the EFCC’s counsel, Mr Seidu Atteh, urged the court to dismiss the application and ask Ajudua to take his plea.
Atteh argued that Section 6 of the Interpretation Act conferred validity on the charge against the defendant.
He said: “Substantive Law is governed by the law in force as at the time the offence was committed.
“The repeal of the Advance Fee Fraud and Other Fraud Related Offences Act of 1995 as amended by Act No.62 of 1999 does not affect the offence that was committed then.’’
In the charge, the EFCC accused Ajudua of conspiring with others (now at large) to perpetrate the fraud between November 2004 and June 2005.
According to the EFCC, the defendant defrauded Bamaiyi while they were remanded at the Kirikiri Prison in Lagos.
The commission said Ajudua obtained the money from Bamaiyi, claiming that it represented the professional fees charged by Chief Afe Babalola (SAN), to handle his case.
Ajudua was also alleged to have claimed that the money would help to facilitate Bamaiyi’s release from prison. (NAN)
February 27, 2014

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