Stats: 3,192,174 members, 7,946,972 topics. Date: Thursday, 12 September 2024 at 10:25 AM |
Nairaland Forum / Nairaland / General / Politics / See What South African Online Platform Said About Nigeria. (873 Views)
Lagos Launches Online Platform To Interact With Citizens (Photos) / What Amaechi Said About Wike's Ministerial Nomination 4years Ago..!!! / Stolen Funds: South African Online Platform Mocks Nigeria (2) (3) (4)
See What South African Online Platform Said About Nigeria. by Emperorone(m): 2:47pm On Aug 12, 2015 |
A South African online media outfit, Mail and 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.” Mail and 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 unbundle it. 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, at least, $23.2bn due to the government was not deposited into the federation account from 2009 to 2011. Recently, the then-Central Bank 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 to probe 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.” http://www.punchng.com/i-punch/stolen-funds-south-african-online-platform-mocks-nigeria/ |
Re: See What South African Online Platform Said About Nigeria. by Mbkite(m): 2:48pm On Aug 12, 2015 |
Ok |
Re: See What South African Online Platform Said About Nigeria. by PassingShot(m): 2:49pm On Aug 12, 2015 |
Na lie? 1 Like |
Re: See What South African Online Platform Said About Nigeria. by Omololu007(m): 3:00pm On Aug 12, 2015 |
So should i b runnin now or wot |
Re: See What South African Online Platform Said About Nigeria. by drss(m): 3:16pm On Aug 12, 2015 |
In the interest of peace and tranquility, Buhari must account for the $3.5 billion stolen in 1978. 1 Like |
Re: See What South African Online Platform Said About Nigeria. by naijainfogalery: 3:18pm On Aug 12, 2015 |
because this is from South Africa Now Nigerians will say its a lie, the kind of money embezzled in this country is enough to build another country 2 times better than Nigeria |
Re: See What South African Online Platform Said About Nigeria. by dapyd1(m): 3:20pm On Aug 12, 2015 |
This is not news. And the estimates are low. The amount of money stolen 'legally' or 'diverted' from the original plans it was disbursed for is alarming. One of our lectures on school, who once worked as a special adviser told me about the way money is shared. My ears stung. |
Re: See What South African Online Platform Said About Nigeria. by sherrylo: 3:23pm On Aug 12, 2015 |
PassingShot: You took it out of my mouth |
Re: See What South African Online Platform Said About Nigeria. by Nobody: 3:26pm On Aug 12, 2015 |
But that's the truth.Thank God for PMB.God will replenish all the years the cankerworms(PDP) have eaten. |
Re: See What South African Online Platform Said About Nigeria. by bonechamberlain(m): 3:27pm On Aug 12, 2015 |
the only lies I see there is the amount stated.. what is 50billion, we are talking oh hundreds of billion. |
Re: See What South African Online Platform Said About Nigeria. by nwadiuko1(m): 3:33pm On Aug 12, 2015 |
Ahh they r so wrong.......polithiefcians don loot pass that amount na |
Re: See What South African Online Platform Said About Nigeria. by carnegiefan: 3:49pm On Aug 12, 2015 |
bonechamberlain: More like $500 billion if you ask me. |
Re: See What South African Online Platform Said About Nigeria. by carnegiefan: 3:54pm On Aug 12, 2015 |
But the thing is that if this information had been from radio Biafra, it have would have been attacked. Fact is that the zoo has a monster company called NNPC that is like a bottomless pit - a dark box- that is beyond scrutiny, probe, or accountability. Don't be surprise if Nigeria's entire system of government collapses if there be any searchlight directed at this monster "company". |
(1) (Reply)
Ambode Set To Release Cabinet List This Week / Pastor Aribisala’s Misguided Missile On Pastor Adeboye – RCCG / "Only President Muhammadu Buhari Is Clean In APC." - Olisah Metuh
(Go Up)
Sections: politics (1) business autos (1) jobs (1) career education (1) romance computers phones travel sports fashion health religion celebs tv-movies music-radio literature webmasters programming techmarket Links: (1) (2) (3) (4) (5) (6) (7) (8) (9) (10) Nairaland - Copyright © 2005 - 2024 Oluwaseun Osewa. All rights reserved. See How To Advertise. 24 |