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Stolen Funds: South African Online Platform Mocks Nigeria by haconjy(m): 6:37am On Aug 12, 2015 |
A South African online media outfit,Mailand Guardian Africa,came after Nigeria on Tuesday, saying, “The money ‘eaten’ there is bigger than the Gross Domestic Product of 38 African nations.”If the stolen fund it estimated at $50bn were a country, the online medium reported, it would be Africa’s 11th biggest economy. “Some estimates put the ‘lost’ funds at $50bn. If it were a country, it would be Africa’s 11th biggest economy, at par with Tunisia’s entire GDP and larger than the economic output of Ghana, Tanzania, Uganda, Ivory Coast or the Democratic Republic of Congo,” the online report said.It quoted a Nigeria’s transparency watchdog as saying that the Nigerian National Petroleum Corporation diverted more than$30bn oil revenue since 2009. This figure, it said, was bigger than the annual production output of “half of the nations in Africa.” Mailand Guardian Africa said the financial shortfall caused by the theft, added to the falling prices of oil, had put Nigeria – a country where “about two-thirds” of the population live on less than a dollar per day – in a financial strait.For Nigeria’s investment in the NNPC, the report said, the country had gained nothing but terrible disclosure records and absence of accountability.“For all its importance to Nigeria, the NNPC is largely inscrutable. It had the worst disclosure record among 44 energy companies analysed in a 2011 report by anti-corruption non-profit organisations, the Transparency International and the Revenue Watch Institute.“The NNPC consistently denies any wrongdoing. Allegations of missing funds go back as far as when President Muhammadu Buhari was a petroleum minister,” the post recalled.While it admitted that the country’s oil sector needed an urgent reform, the online news organisation said history was not on the side of Buhari’s push to split the corporation. It described the NNPC as the largest government-owned company, saying Buhari may not succeed in his plan to unbundleit. Arguing that the establishment was synonymous to corruption, it recalled that it had faced allegations bordering on financial frauds since 1978.“A Lagos-based newspaper reported in 1978, a year after the NNPC took its current name, that the company failed to remit an equivalent of about $3.5bn it owed the treasury. In the 1990s, a military-sanctioned investigation discovered that $12bn oil revenue was unaccounted for under the regime of Gen Ibrahim Babangida (retd.). “The Nigeria Extractive Industries Transparency Initiative said, atleast, $23.2bn due to the government was not deposited into the federation account from 2009 to 2011. Recently, the then-CentralBank of Nigeria Governor, Sanusi Lamido Sanusi, alleged that the corporation retained as much several billions of dollars that was due to the government,” the report said.Back home, there is so much to read on digital media about corruption, the pains it has inflicted on the masses and how it could be tackled. Recent media reports on government’s plans toprobe key past public projects and investments merely fuelled the online discussion. The government revealed that it was scrutinising bank accounts where the stolen funds had been kept. Following the statement, bloggers and social media users have been urging government to also look into highbrow mansions in Abuja, Lagos, Port Harcourt and other major cities.In recent times, several hashtags drawing government’s attention to such houses have been trending. The stolen money, according to social media posts, could be hidden in houses belonging to relatives, wives and concubines of former public office holders. Blogging on this on Tuesday, one Chukwudi Enekwechi said, “Recently, a huge sum of money was being frittered away by relations, concubines and wife of a politician. Even more interesting is that locations where such money is hidden are listed online. For example, Lekki Phase 1, Ikoyi and Victoria Island, Port Harcourt, Maitama and Asokoro were mentioned.” www.haconjy.blospot.com punchng.com
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Re: Stolen Funds: South African Online Platform Mocks Nigeria by Nobody: 6:41am On Aug 12, 2015 |
See |
Re: Stolen Funds: South African Online Platform Mocks Nigeria by buzquet(m): 6:42am On Aug 12, 2015 |
I hope GEJ and his entourage are reading this? Nigeria is nw a laughing stock. thunder fire dem all |
Re: Stolen Funds: South African Online Platform Mocks Nigeria by B3sty(m): 6:43am On Aug 12, 2015 |
Imagine! Where is my ... Biro,make I sue their ass for degrading Nigeria. |
Re: Stolen Funds: South African Online Platform Mocks Nigeria by buzquet(m): 6:45am On Aug 12, 2015 |
I hope GEJ and his entourage are reading this? Nigeria is nw a laughing stock. thunder fire dem all. am very sure wen baba finish cleaning dis mess, even South Africans n the Europeans will b begging for our visa |
Re: Stolen Funds: South African Online Platform Mocks Nigeria by kodded(m): 6:49am On Aug 12, 2015 |
Trash talk buzquet: |
Re: Stolen Funds: South African Online Platform Mocks Nigeria by Mynd44: 6:50am On Aug 12, 2015 |
Lies, they were paid to post this rubbish. As long as you can't proof the "fraud" I don't believe it. This is just witch hunt |
Re: Stolen Funds: South African Online Platform Mocks Nigeria by Papasmal(m): 6:50am On Aug 12, 2015 |
Perhaps it is time to right d wrongs |
Re: Stolen Funds: South African Online Platform Mocks Nigeria by DankemzI(m): 6:50am On Aug 12, 2015 |
Make una stop calling GEJ GEJ the learn when it comes to corruption in Nigeria Shuuuuu? Na today corruption start? Or na because say na minority him be 1Nigeria indeed .“The NNPC consistently denies any wrongdoing. Allegations of missing funds go back as far as when President Muhammadu Buhari was a petroleum minister,” Why probe Jonathan's Tenure alone, if not witch hunting We the people of SESS are watching |
Re: Stolen Funds: South African Online Platform Mocks Nigeria by Opiosko: 6:51am On Aug 12, 2015 |
buzquet:Yimu! Na today the hellhole called Nigeria became a 'laughing stock'? |
Re: Stolen Funds: South African Online Platform Mocks Nigeria by oluwafemi113(m): 6:59am On Aug 12, 2015 |
GEJ nearly finish this country ooooo Thank God we now have a responsible Government..... |
Re: Stolen Funds: South African Online Platform Mocks Nigeria by vivypretty(f): 7:00am On Aug 12, 2015 |
i know one day nigeria will be better than today and all those people laughing at it will want to laugh with it |
Re: Stolen Funds: South African Online Platform Mocks Nigeria by sainty2k3(m): 7:33am On Aug 12, 2015 |
Too long. I'll rather read something else |
Re: Stolen Funds: South African Online Platform Mocks Nigeria by greatness22(m): 7:37am On Aug 12, 2015 |
"Dem say make sickness stand up, krow-krow (heat rashes) dey smart" Make South Africa go dance "windhek" for 3rd mainland bridge. Stupid people. |
Re: Stolen Funds: South African Online Platform Mocks Nigeria by troot: 7:48am On Aug 12, 2015 |
Neat Huawei MediaPad 7 Quad core 1.2GHz 1gb RAM 8gb memory 4.3 jelly beans Every thing working perfect conditions No defect of any kind 08159582520
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Re: Stolen Funds: South African Online Platform Mocks Nigeria by OXYGENO1: 10:32am On Aug 12, 2015 |
buzquet:Hahahaha abeg which visa that .. .do nigerians have visa? never heard of that though ......hahahaha a nigerian visa? LMAO |
Re: Stolen Funds: South African Online Platform Mocks Nigeria by phayvoursky(m): 12:10pm On Aug 12, 2015 |
troot: BLOOD OF GEEZ |
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