^^^^^

thats why the rest of the world laughs in our faces,

do you not understand that the so called debt that the paris club claimed we owed was paid back 100 fold a long time ago? this is the reason that buhari demanded a moratorium on it because we were being asked to pay back accumulated interest, the capital was paid off ages ago, this is how these criminal banks make their money -its a scam

this woman is an agent of these scammers that is why she got the job in the first place

Why do people automatically believe everything that Wikileaks posts anyway. God save us from this "oyinbo no dey lie" syndrome o.

Many of you here on NL in your so called quest to improve Nigeria have created a very chaotic situation where anyone can just come out now and accuse someone else of corruption and you will just start bleeping "4 legs good, 2 legs bad" continuously. Cant you see that in having a balance, we must be very cautious? It is very wrong for us to just start shouting and insulting every time we read an accusation because as much as Nigeria might have corrupt leaders, there are many who will also throw accusations for their own selfish interests.

A good example was when Sahara Reporters posted a cheque paid to Obasanjo farms as money paid to bribe judges. As ridiculous as the story was and with no substantial evidence, some people applauded it as a revelation. OBJ and Uduaghan might be corrupt but that does not mean stories must be fabricated to prove they are corrupt. That was the last time I visited Sahara reporters and I don't think I will ever visit the site again. If we must fight corruption, we must fight it with clean hands. We must also fight it without bias. A situation where people in our political circle are called saints and others in other political circle are called thieves is very sad. The likes of Eko-Ile are very good at that. He would defend any accusation against ACN folks and propagate accusations against people from other political parties. It is just a sign that many of us who say we are fighting for the good of Nigeria are actually fighting for the good of our own political camps/parties

And just to add that even if wikileaks reported it does not make it true. Wikileaks reports conversations from cable messages. These conversations are not necessarily truth. They are just conversations among people. Many of these are lies spoken to deceive the person hearing it. The report about Saddam Hussein having weapons of mass destruction was found to be false after Bush had relied on it to sack Saddam so tagging wikileaks report as truth is very wrong and could be disastrous.

Anywho, back to the leak.

http://wikileaks.org/cable/2006/02/06ABUJA483.html

---------------
What Can We Do?
---------------

¶13.   (S/REL UK)[size=13pt] While we cannot prove all of these accusations in a court of law, their significance is that they are widely believed both among political figures and among that part of the general public that is politically aware.  [/size] It is in the USG's interest to support Nigeria's efforts to root out corruption and, while our positive public pronouncements contribute to the environment, the biggest influence we can have is the judicious use of U.S. visa revocation for corrupt practices, as provided by Presidential Proclamation 7750. [size=13pt] Though we are unable to identify every corrupt official, the Mission is compiling a list of some prominent and egregious corrupt officials from throughout the country.  This list will take into consideration the individuals, levels of corruption and the impact on Nigerian stability of a 7750 decision.  The list could be expanded in many directions, but the Mission feels that such an effort would demonstrate the sincerity and seriousness of the USG's commitment to good governance and, if these individuals are found ineligible, that finding could contribute greatly to entrenching the precepts of good governance and accountability in Nigeria.[/size]

¶9.    (S/REL UK) It is also widely believed that the  President's inner circle also reaps hefty rewards with  impunity.  Some frequently cited examples are:

CHECK--Edmund Daukoro, recently named Minister of State for  Petroleum Resources, was charged in 1994 for embezzling some  $47 million as a managing director of the Nigerian National  Petroleum Corporation (NNPC).  The charges were abandoned, and Daukoro's political career soared when Obasanjo took office in 1999.

CHECK--Senator Florence Ita Giwa, indicted for misappropriation of funds by the Idris Kuta Panel in 2000, was pardoned along with other indicted senators, and she was named a special advisor to Obasanjo when she left office.

CHECK--The head of the National Airport Management Authority (NAMA), Rochas Okorocha, was caught and dismissed for embezzling about $1 million through an inflated contract; Obasanjo then appointed him as a senior aide, without requiring Okorocha to repay the stolen funds.  Okorocha was eventually fired on July 13 in a cabinet reshuffle, but went on to start a political party for his renewed presidential ambitions.

CHECK--The recent auction of oil blocks included some firms bidding,, sometimes with no prior ties to the oil industry, that were linked to Obasanjo associates, including Daukoro, Rivers State governor Peter Odili, Ogun State  governor Gbenga Daniel, presidential advisor Andy Uba,  presidential chief of staff Abdullahi Mohammed, Minister of the Federal Capital Territory Nasir al-Rufai and PDP Board of Trustees Chairman Tony Anenih.

CHECK--Anenih was indicted by the National Assembly for the sum of 300 billion Naira (approximately $2.4 billion) missing from Ministry of Works and Housing while he was the minister.  The missing money is widely believed to have paid off 2003 elections  "expenses," including to Balogun, in addition to lining his own pockets.

CHECK--Minister of Finance Ngozie Okonjo-Iweala is said to have steered contracts to her brother (JonJon) with the help of al-Rufai.  The contracts, said to amount to about $50 million, have been paid for consulting work for the Ministry.

CHECK--Al-Rufai is at the center of the corruption allegations. Well-known to PolCouns eight year ago, when he was homeless and seeking a loan to import a taxi from the UK, al-Rufai is said to have recently purchased seven upscale properties in a posh Abuja neighborhood.  His demolitions of commercial and residential buildings in the capital have reportedly provided an opportunity for himself and several of his friends.  After demolishing residential properties in Kubwa, the land was reallocated to several of his friends and to an investment company he allegedly owns.  The community of Chika, where about two square miles of development was demolished in December, has allegedly been allocated to the same group of people.

CHECK--Chief Olabode George, current PDP National Chairman (Southwest) is a close friend of President Obasanjo and a leading proponent of the Third Term Agenda.  He is one of the people accused of financial recklessness in the affairs of the National Port Authority, where he was chairman when the financial scandals were allegedly committed.  He was retired from the Navy in the 1990s by the Babangida Administration after serving as military governor of Ondo State from 1987 to 1990 in addition to other military postings.

CHECK--Chris Uba, recently appointed to the PDP Board of Trustees, admitted rigging during the 2003 elections and attempted to kidnap the governor of Anambra state to try to collect payments for his efforts.  Linked closely to several vigilante groups in the state, he is widely believed to be responsible for the burning of many state government buildings in Awka, crimes that have yet to be solved.

From the wikileak reveal. Anyone with an eye will notice how this accusation stands in the mist of others that we have, over time, learnt to be somewhat factual.

¶CHECK[/b]10.   (C/REL UK) Obasanjo himself is believed to be one of the owners of Suntrust Petroleum.  And questions remain about the Obasanjo Library project, which collected enormous sums of money from government contractors, banks, industrialists, and state governors, ostensibly for the construction of a presidential library, the plans for which are vague.  It is widely believed throughout the country that Obasanjo and his son, Gbenga, are major shareholders in the newly reorganized Zenith Bank and UBA Bank as well as in airlines and the telecommunications sector.

[b]CHECK¶11.   (C/REL UK) The Bureau of Private Enterprises oversaw the privatization of many government-owned business, including sugar, steel, rice and other sectors.  It is widely believed that the privatization exercise benefited both the President, through Aliko Dangote, and the Vice President, through various agents.

¶12.   (C/REL UK) Meanwhile, at the state level, the personal excesses of several governors indicate that they are finding ways to supplement their government salaries:

CHECK--Edo State governor Lucky Igbenedion purchased a $6 million mansion in London in 2000 through a series of shell companies, a year after he was elected governor.  He has two Ferraris on the premises.  He also owns reputedly the most expensive residence in Abuja, estimated at $25 million.

CHECK--Delta State governor James Ibori owns two London estates. The properties were purchased for $3 million and $4 million, respectively, after Ibori was elected governor.  Through a shell company registered to his London-based wife, he offered for public auction an ongoing supply of 6 million barrels of oil per month.  When reporters confronted his wife, the shell companies abruptly changed their directors so that Ibori's wife was no longer listed.

CHECK--Rivers State governor Peter Odili has built an impressive portfolio from his corrupt dealings as governor of one of the oil-rich states in Nigeria since his first election in 1999. Beginning his political career as a medical doctor with a small private clinic in Port Harcourt, he now hosts extravagant events and boasts that it would not have been possible "before he became governor."  Further, he is widely suspected of being directly responsible for facilitating massive irregularities in both the 1999 and 2003 elections. His own state officials have claimed that Odili has employed militia groups, many of which are responsible for the continuing unrest in the delta region.

CHECK--Each of the 36 state governors donated 10 million naira (about $75,000) to the Obasanjo library project.   Following a public outcry, the library organizers stated the donations were from the governors' personal funds, but several governors backpedaled from their commitments, claiming they had made no such pledges.  When a Lagos lawyer filed a code of conduct complaint alleging conflict of interest in the President's receiving these donations from recipients of government funds, Obasanjo invoked the immunity clause of the constitution, and the complaint died out.

Again, directly from the wikileak reveal. Again, another list of accusations that turned out to hold some real truths at the end of the day.

cap28:

^^^^^

thats why the rest of the world laughs in our faces,

do you not understand that the so called debt that the paris club claimed we owed was paid back 100 fold a long time ago? this is the reason that buhari demanded a moratorium on it because we were being asked to pay back accumulated interest, the capital was paid off ages ago, this is how these criminal banks make their money -its a scam

this woman is an agent of these scammers that is why she got the job in the first place

You are an absolute ignoramus. When did you pay it back please. give us evidence. Under military rule? You must be kiddin. dont talk from your arse please!

Many of you here on NL in your so called quest to improve Nigeria have created a very chaotic situation where anyone can just come out now and accuse someone else of corruption and you will just start bleeping "4 legs good, 2 legs bad" continuously. Cant you see that in having a balance, we must be very cautious? It is very wrong for us to just start shouting and insulting every time we read an accusation because as much as Nigeria might have corrupt leaders, there are many who will also throw accusations for their own selfish interests.

A good example was when Sahara Reporters posted a cheque paid to Obasanjo farms as money paid to bribe judges. As ridiculous as the story was and with no substantial evidence, some people applauded it as a revelation. OBJ and Uduaghan might be corrupt but that does not mean stories must be fabricated to prove they are corrupt. That was the last time I visited Sahara reporters and I don't think I will ever visit the site again. If we must fight corruption, we must fight it with clean hands. We must also fight it without bias. A situation where people in our political circle are called saints and others in other political circle are called thieves is very sad. The likes of Eko-Ile are very good at that. He would defend any accusation against ACN folks and propagate accusations against people from other political parties. It is just a sign that many of us who say we are fighting for the good of Nigeria are actually fighting for the good of our own political camps/parties

And just to add that even if wikileaks reported it does not make it true. Wikileaks reports conversations from cable messages. These conversations are not necessarily truth. They are just conversations among people. Many of these are lies spoken to deceive the person hearing it. The report about Saddam Hussein having weapons of mass destruction was found to be false after Bush had relied on it to sack Saddam so tagging wikileaks report as truth is very wrong and could be disastrous.

Kobojunkie:

From the wikileak reveal. Anyone with an eye will notice how this accusation stands in the mist of others that we have, over time, learnt to be somewhat factual. 

Stop inventing phrases just to buttress your point please. Something cannot be "somewhat factual". It is either factual or not. It is like saying "extreme end".  There is nothing like somewhat factual in English/French/Igbo/Yoruba or hausa  languages, sir unless you are typing in Nairaland ebonics.You may decide to argue the existence of "somewhat factual in any language you sih for but I will not indulge you.

Google search of  "somewhat+factual"  About 11,900 results (0.23 seconds). I guess this Nigerian didn't invent that after all! 

Sigh! Oh well . . . . back to the ISSUE at hand again

edicolove:

You are an absolute ignoramus. When did you pay it back please. give us evidence. Under military rule? You must be kiddin. dont talk from your arse please!

Are you joking ?

naijababe:

Are you joking ?

he is not joking my dear. Can you state clearly when Nigeria paid the monies they owed to the Paris club without resorting to that redundant argument of "Nigeria paid it interest 100 times over crap". Am sure you understand that before the money was borrowed there were terms agreed upon on interests rate, penalties for default in payment and duration of the loan.
What business of the Paris club is it that we paid the actual loan borrowed in interests and penalties if we defaulted in payment after agreeing to the terms in which the loans were secured.
Ngozi did a perfect job in ensuring we left the paris club and the london club. Do you know how much of our revenue that was going into servicing the debt before Okonjo convinced both our government and the the creditor clubs to a deal that saw us leave the clubs? You all should be grateful and stop spewing ignorance that you heard from some politician economists that have vested interests in an indebted Nigeria.
People should let the woman work and stop with the distractions jare!!
When has wikiLeaks become the authority on what is factual.
Is it of coincidence that the few people that has refused to be objective-Jubkie,Eko-ile and Caps- are of questionable personalities?? The case of Mr Caps is even more curious; he stays in the UK, yet he has all these paranoid theories of the west. O boy if you actually claim to hate these Oyinbo why not pack your bags and come to our own neck of the wood and criticize them that way, your analysis and theories will look less ridiculous. .ur revenue that was going into servicing the debt before Okonjo convinced both our government and the the creditor clubs to a deal that saw us leave the clubs? You all should be grateful and stop spewing ignorance that you heard from some politician economists that have vested interests in an indebted Nigeria.
People should let the woman work and stop with the distractions jare!!
When has wikiLeaks become the authority on what is factual.
Is it of coincidence that the few people that has refused to be objective-Jubkie,Eko-ile and Caps- are of questionable personalities?? The case of Mr Caps is even more curious; he stays in the UK, yet he has all these paranoid theories of the west. O boy if you actually claim to hate these Oyinbo why not pack your bags and come to our own neck of the wood and criticize them that way, your analysis and theories will look less ridiculous. .

@ rhymz, please read this PDF at your leisure

http://www.afrodad.org/downloads/Nigeria.pdf

@kobo, in as much as i am absolutely disgusted by the level of corrupt "exposed" or shd i say written in the wikileaks reports , however one shd not take the report as it is to be the gospel because as we all know Wikileaks is more or less Gossip. which then means a lot of the credibility of the report depends on the informant ?

Having said that, the revelation still needs to be investigated, and the culprits brought to book.

For the time been take madam Ngozi's account and refute into consideration before throwing out slanders.

^^^um . . . so what are you saying that is SO different from what many on here, who have expressed the importance of our setting sentiments to the side when it comes to achieving progress in Nigeria, have not said so far?

Seriously, the level of sycophancy that exists among ordinary Nigerians is so high these days that the future really looks bleak. Have we not sold our souls enough?

Why is it hard to understand straight statements that continue to suggest we seek the truth in ALL CASES, and it ought to be paramount no matter who is implicated or what relations we have with them?

^^^ and. . . what is getting u all excited, one might think u actually caught madam Ngozi red handed, n.aked sucking off Obj ?

chill woman.

Even Jesus Christ was "expose" of banging Mary Magdalene mercilessly, from accounts of other book written in that same period, yet people the world over didnt resort to ur character jumping about, beaming left to right, posting and re-posting to express the point. becos the account might be a lie.

macjive01:

^^^ and. . . what is getting u all excited, one might think u actually caught madam Ngozi red handed, n.aked sucking off Obj ?

chill woman.

Even Jesus Christ was "expose" of banging Mary Magdalene mercilessly, from accounts of other book written in that same period, yet people the world over didnt resort to your character jumping about, beaming left to right, posting and re-posting to express the point.   becos the account might be a lie.

Again notice how the very same response works, even with the already debunked claims(investigated and results made public) you have above .  . . .

Kobojunkie:

^^^um . . . so what are you saying that is SO different from what many on here, who have expressed the importance of our setting sentiments to the side when it comes to achieving progress in Nigeria, have not said so far?

Seriously, the level of sycophancy that exists among ordinary Nigerians is so high these days that the future really looks bleak. Have we not sold our souls enough?

Why is it hard to understand straight statements that continue to suggest we seek the truth in ALL CASES, and it ought to be paramount no matter who is implicated or what relations we have with them?

1) Absolutely NOWHERE have I said anything about HER being guilty
2) Absolutely NOWHERE have I commented ON HER PERSON in all this and many people have stayed clear of doing that even to this point
3) Absolutely NOWHERE have I attempted to pretend she has to be guilty simply because -- anyone with eyes and a brain will have gathered that what I have called for is simply an expose on what really happened.

It should be all too obvious, even to the simpletons among us here, that I don't give a darn who she is or what her name is. I care more about knowing the truth of what happens, and that, for the umpteenth time, is what ALL NIGERIANS, not some, but ALL should be MORE CONCERNED ABOUT. These are very simple and straightforward messages embedded in most all of my posts on this, and that of many others so far.

Hint: When the same retort seems to work well for your numerous posts, if possible you still do not get the main message being conveyed. Rather than attempting to ATTACK the messenger, go back and figure out where you may have missed the message!

High_Chief:

Bro dont just waste your time with that mad woman, she will soon start wailing Okojo Iweala's name on the streets as a result of envy

LOL
Am sure Mac is yet to understand that Troll. Always splitting hair and acting like some authority when in reality she is just vane and uneccessariy paranoid.

naijababe:

@ rhymz, please read this PDF at your leisure

http://www.afrodad.org/downloads/Nigeria.pdf

I am a very busy man. Do you mind pasting whatever it is that is contained in the document here.
I challenge you to state clearly with facts, figures and date of when the Nigerian government paid its debts in full-both the loans and interests charged before Ngozi's intervention.
Dont post me PDF links cause I wont download it let alone read it. The least I coulf do for you is to read it hear on NL.

naijababe:

@ rhymz, please read this PDF at your leisure

http://www.afrodad.org/downloads/Nigeria.pdf

Like @rhymz said, there is no need to read any article, post something like this

http://www.clubdeparis.org/sections/traitements/nigeria-20051020/viewLanguage/en

Directly from the Paris Club website.

If you want summary, I will give it to you. The witnessing countries to her paying the debt were

Participating creditors
AUSTRIA , BELGIUM , BRAZIL , DENMARK , FINLAND , FRANCE , GERMANY , ITALY , JAPAN , NETHERLANDS , RUSSIAN FEDERATION , SPAIN , SWITZERLAND , UNITED KINGDOM , UNITED STATES OF AMERICA


Observers
AUSTRALIA , CANADA , NORWAY , African Development Bank , European Commission , IMF , OECD , UNCTAD , World Bank

I guess she bribed all the reps and delegation from all this nations and organizations right? As for the nonsense circulating the rubbish Nigeria's debt was paid, list the witnessing countries and observers. Leave all the so-called theories from local champions and face reality.

The story sounds like a fabrication. No details about the contracts and no proof. Not even one detail in the story except for the name of the brother and even that ("Jon Jon") sounds made up. People should just move on already.

rhymz - key parts relevant below
In fact, a Nigerian newspaper has explained that the actual initial loan was $17 billion. Nigeria has not only paid $35
billion for this loan but paradoxically still owed about $35 billion until the Paris Club debts relief came.
Debt service payment for Nigeria's debts started on a soft, tolerable level in 1958 until it became a hard bargain years later.
To start with Prof. Mike Obadan explained that the average debt service in the late fifties was N3.2m annually which
worked out at 0.2% of the GDP. In other words debt serving was not a big cut on the nation's purse initially. However, later,
debt serving became much of burden for Nigeria to bear. Matters came to a head in 2003 when one of Nigeria's creditors
the Paris Club demanded on all-time high $3 billion annually for debt service payment. Dr. Ngozi Okonjo-Iweala considered
the payment economically unsustainable. She therefore negotiated with the club and got to accept $1.7 billion debt
service payment annually. This left an unpaid debt service of $1.3 billion, which the club added to the principal alongside
other interests. This is one reason the nation's total debt stock kept on rising

I think this information was directly from one of their inside sources. Because other wikileaks reports always cites the person gossiping, so this is not mere gossip. There is no way this woman will frolick with Obasanjo and come out clean. Even Obasanjo fired her for putting her hands too depp into the national coffers. She was becoming sharper than him. I heard about stories of allegations of corruption in her ministry and her surrounding herself by people that she "trusts only". But i guess even under lock and key, some people are willing to still sell what they know. Okonjo was not a saint and is no messiah. If she was, she will not risk staining her name with corrupt governments. I guess it pays more to be a Nigerian minister than a world bank VP

edicolove:

You are an absolute ignoramus. When did you pay it back please. give us evidence. Under military rule? You must be kiddin. dont talk from your arse please!

illiteracy is a major problem in nigeria as can be seen from your response, i  have no hope in nigeria because as long as illiterates like yourself outnumber the educated and well informed, nigeria will continue to spiral downwards.

the international financical banks cheat african nations by using debt as a trap, they loan you money and then they hike up the interest rate in order to make it virtually impossible for you to get out of debt - this is known a as a debt trap - almost every well read person understands that this is the way western banks keep african nations dependant and poor, but i dont expet you to understand this because you are way too dim to grasp this concept, i will say it again - nigeria paid off the principal on the money it borrowed years ago - instea\d of okonjo iweala and obasanjo to ask for a complete cancellation of this illegal debt they gave in like the cowards that they are to the criminal banking cabal known as the  paris club.

As a result nigeria handed over $30 billion in foreign reserves without even consulting the nigerian people - these are the type of fools you support - this says a lot about your level of reasoning, no country in the world has ever parted with such a huge sum of money in the name of debt servicing - america currently owes china $3 trillion but would never in a million years consider paying that off in one lump sum, instead it issues china with bonds which continue to depreciate in value year on year.

learn to understand issues before you open your trap.

@ manny4life, negotiation and payment of the debt led by Okonjo was never in contention, us getting suckered is what is.

So much tangential nonsense being thrown in. What in the world does all that about her helping clean up our debt have to do with the issue -- the leak? the revelation? 

cap28:

illiteracy is a major problem in nigeria as can be seen from your response, i  have no hope in nigeria because as long as illiterates like yourself outnumber the educated and well informed, nigeria will continue to spiral downwards.

the international financical banks cheat african nations by using debt as a trap, they loan you money and then they hike up the interest rate in order to make it virtually impossible for you to get out of debt - this is known a as a debt trap - almost every well read person understands that this is the way western banks keep african nations dependant and poor, but i dont expet you to understand this because you are way too dim to grasp this concept, i will say it again - nigeria paid off the principal on the money it borrowed years ago - instea\d of okonjo iweala and obasanjo to ask for a complete cancellation of this illegal debt they gave in like the cowards that they are to the criminal banking cabal known as the  paris club.

As a result nigeria handed over $30 billion in foreign reserves without even consulting the nigerian people - these are the type of fools you support - this says a lot about your level of reasoning, no country in the world has ever parted with such a huge sum of money in the name of debt servicing - america currently owes china $3 trillion but would never in a million years consider paying that off in one lump sum, instead it issues china with bonds which continue to depreciate in value year on year.

learn to understand issues before you open your trap.

Hear yourself out, you are busy insulting someone else, yet you are here displaying you own ignorance, smh IN DISAPPOINTMENT. It's called a debt trap indeed, I guess all the experts in finance who go as delegates on behalf of Nigeria to get loans for the GOVT sure don't know the terms they were offered right? Keep blaming the banks rather than the laxity of your incompetent leaders who jump at anything, anywhere, anytime. Did the western banks lobby you to come ask for loans? Did the put a mandate on you? It's like Lagos state Govt goes to Bank of America to borrow $2billion and then rather than using finance and legal experts to examine the terms and conditions of the loan, they will assume I know it all mentality, when the banks come knocking at the door, the useless mentality comes into play, utmost rubbish! Same loans other African nations took including South Africa and has had a track record of repayment yet Nigeria went delinquent and rather sought a consolidation (one time payment) approach.

rhymz:

he is not joking my dear. Can you state clearly when Nigeria paid the monies they owed to the Paris club without resorting to that redundant argument of "Nigeria paid it interest 100 times over crap". Am sure you understand that before the money was borrowed there were terms agreed upon on interests rate, penalties for default in payment and duration of the loan.
What business of the Paris club is it that we paid the actual loan borrowed in interests and penalties if we defaulted in payment after agreeing to the terms in which the loans were secured.
Ngozi did a perfect job in ensuring we left the paris club and the london club. Do you know how much of our revenue that was going into servicing the debt before Okonjo convinced both our government and the the creditor clubs to a deal that saw us leave the clubs? You all should be grateful and stop spewing ignorance that you heard from some politician economists that have vested interests in an indebted Nigeria.
People should let the woman work and stop with the distractions jare!!
When has wikiLeaks become the authority on what is factual.
Is it of coincidence that the few people that has refused to be objective-Jubkie,Eko-ile and Caps- are of questionable personalities?? The case of Mr Caps is even more curious; he stays in the UK, yet he has all these paranoid theories of the west. O boy if you actually claim to hate these Oyinbo why not pack your bags and come to our own neck of the wood and criticize them that way, your analysis and theories will look less ridiculous. .your revenue that was going into servicing the debt before Okonjo convinced both our government and the the creditor clubs to a deal that saw us leave the clubs? You all should be grateful and stop spewing ignorance that you heard from some politician economists that have vested interests in an indebted Nigeria.
People should let the woman work and stop with the distractions jare!!
When has wikiLeaks become the authority on what is factual.
Is it of coincidence that the few people that has refused to be objective-Jubkie,Eko-ile and Caps- are of questionable personalities?? The case of Mr Caps is even more curious; he stays in the UK, yet he has all these paranoid theories of the west. O boy if you actually claim to hate these Oyinbo why not pack your bags and come to our own neck of the wood and criticize them that way, your analysis and theories will look less ridiculous. .

Im not going to waste a minuite of my time debating this issue with you because the last time i laid out all the facts all i got back from you was a deafening silence, therefore i would be embarking on nothing more than a fool's errand if i decided to respond to the rubbish you put up there, good luck and continue to genuflect at the altar of okonjo iwealla and her fellow criminals, perhaps the scales will fall from your eyes after she has removed the fuel subsidy and your standard of living takes yet another nose dive.

naijababe:

@ manny4life, negotiation and payment of the debt led by Okonjo was never in contention, us getting suckered is what is.

Obviously it's not in contention but what is, is the terms of the repayment right? Some of you are claiming that Nigeria paid all her debt, what is left was the interest, some are claiming she brokered the loan on behalf of her brother and got her share and so many rubbish going on the internet. I hate to do this, but everyone should pull their numbers out let's put this math to a test. Based on validated numbers from valid sites, NOT HEARSAY, we can put this rubbish to a rest.

manny4life:


Hear yourself out, you are busy insulting someone else, yet you are here displaying you own ignorance, smh IN DISAPPOINTMENT. It's called a debt trap indeed, I guess all the experts in finance who go as delegates on behalf of Nigeria to get loans for the GOVT sure don't know the terms they were offered right? Keep blaming the banks rather than the laxity of your incompetent leaders who jump at anything, anywhere, anytime. Did the western banks lobby you to come ask for loans? Did the put a mandate on you? It's like Lagos state Govt goes to Bank of America to borrow $2billion and then rather than using finance and legal experts to examine the terms and conditions of the loan, they will assume I know it all mentality, when the banks come knocking at the door, the useless mentality comes into play, utmost rubbish! Same loans other African nations took including South Africa and has had a track record of repayment yet Nigeria went delinquent and rather sought a consolidation (one time payment) approach.

western nations will always have their feet on the neck of african nations because dullards like you continue to make it possible, i gave you an example of one of the richest economies in the world - america owing over $3 trillion, why hasnt america paid china back this huge sum of money?

another example is iceland that are owing britain and holland a paltry $3billion - why havent they paid this back?

in the case of iceland they even had a referendum and the people of iceland voted AGAINST paying it off and called for the entire sum to be written off - the citizens of both of these countries enjoy a much higher standard of living than the average nigerian and yet they were unwilling to suffer the burden of higher taxes and cuts in govt spending in order to pay off a their creditors. contrast this with nigeria where the vast majority of the population lives in poverty and yet obasanjo and okonjo iwealla felt obliged to divert money which could be better spent on education and health care into paying off a debt which had already been paid off 10 fold years ago.

only in nigeria do you have poor people arguing to have their already grim standard of living reduced to an even lower level in order to pay off debt - and make no mistake about it  the money which was used to service this debt is money which should have been used to provide jobs, health care and education for the nigerian people.

this is indeed proof that the vast number of  nigerians are actually mentally re.tarded.

Again . . . .  back to the issue

¶9.    (S/REL UK) It is also widely believed that the  President's inner circle also reaps hefty rewards with  impunity.  Some frequently cited examples are:

CHECK--Edmund Daukoro, recently named Minister of State for  Petroleum Resources, was charged in 1994 for embezzling some  $47 million as a managing director of the Nigerian National  Petroleum Corporation (NNPC).  The charges were abandoned, and Daukoro's political career soared when Obasanjo took office in 1999.

CHECK--Senator Florence Ita Giwa, indicted for misappropriation of funds by the Idris Kuta Panel in 2000, was pardoned along with other indicted senators, and she was named a special advisor to Obasanjo when she left office.

CHECK--The head of the National Airport Management Authority (NAMA), Rochas Okorocha, was caught and dismissed for embezzling about $1 million through an inflated contract; Obasanjo then appointed him as a senior aide, without requiring Okorocha to repay the stolen funds.  Okorocha was eventually fired on July 13 in a cabinet reshuffle, but went on to start a political party for his renewed presidential ambitions.

CHECK--The recent auction of oil blocks included some firms bidding,, sometimes with no prior ties to the oil industry, that were linked to Obasanjo associates, including Daukoro, Rivers State governor Peter Odili, Ogun State  governor Gbenga Daniel, presidential advisor Andy Uba,  presidential chief of staff Abdullahi Mohammed, Minister of the Federal Capital Territory Nasir al-Rufai and PDP Board of Trustees Chairman Tony Anenih.

CHECK--Anenih was indicted by the National Assembly for the sum of 300 billion Naira (approximately $2.4 billion) missing from Ministry of Works and Housing while he was the minister.  The missing money is widely believed to have paid off 2003 elections  "expenses," including to Balogun, in addition to lining his own pockets.

CHECK--Minister of Finance Ngozie Okonjo-Iweala is said to have steered contracts to her brother (JonJon) with the help of al-Rufai.  The contracts, said to amount to about $50 million, have been paid for consulting work for the Ministry.

CHECK--Al-Rufai is at the center of the corruption allegations. Well-known to PolCouns eight year ago, when he was homeless and seeking a loan to import a taxi from the UK, al-Rufai is said to have recently purchased seven upscale properties in a posh Abuja neighborhood.  His demolitions of commercial and residential buildings in the capital have reportedly provided an opportunity for himself and several of his friends.  After demolishing residential properties in Kubwa, the land was reallocated to several of his friends and to an investment company he allegedly owns.  The community of Chika, where about two square miles of development was demolished in December, has allegedly been allocated to the same group of people.

CHECK--Chief Olabode George, current PDP National Chairman (Southwest) is a close friend of President Obasanjo and a leading proponent of the Third Term Agenda.  He is one of the people accused of financial recklessness in the affairs of the National Port Authority, where he was chairman when the financial scandals were allegedly committed.  He was retired from the Navy in the 1990s by the Babangida Administration after serving as military governor of Ondo State from 1987 to 1990 in addition to other military postings.

CHECK--Chris Uba, recently appointed to the PDP Board of Trustees, admitted rigging during the 2003 elections and attempted to kidnap the governor of Anambra state to try to collect payments for his efforts.  Linked closely to several vigilante groups in the state, he is widely believed to be responsible for the burning of many state government buildings in Awka, crimes that have yet to be solved.

¶CHECK[/b]10.   (C/REL UK) Obasanjo himself is believed to be one of the owners of Suntrust Petroleum.  And questions remain about the Obasanjo Library project, which collected enormous sums of money from government contractors, banks, industrialists, and state governors, ostensibly for the construction of a presidential library, the plans for which are vague.  It is widely believed throughout the country that Obasanjo and his son, Gbenga, are major shareholders in the newly reorganized Zenith Bank and UBA Bank as well as in airlines and the telecommunications sector.

[b]CHECK¶11.   (C/REL UK) The Bureau of Private Enterprises oversaw the privatization of many government-owned business, including sugar, steel, rice and other sectors.  It is widely believed that the privatization exercise benefited both the President, through Aliko Dangote, and the Vice President, through various agents.

CHECK¶12.   (C/REL UK) Meanwhile, at the state level, the personal excesses of several governors indicate that they are finding ways to supplement their government salaries:

CHECK--Edo State governor Lucky Igbenedion purchased a $6 million mansion in London in 2000 through a series of shell companies, a year after he was elected governor.  He has two Ferraris on the premises.  He also owns reputedly the most expensive residence in Abuja, estimated at $25 million.

CHECK--Delta State governor James Ibori owns two London estates. The properties were purchased for $3 million and $4 million, respectively, after Ibori was elected governor.  Through a shell company registered to his London-based wife, he offered for public auction an ongoing supply of 6 million barrels of oil per month.  When reporters confronted his wife, the shell companies abruptly changed their directors so that Ibori's wife was no longer listed.

CHECK--Rivers State governor Peter Odili has built an impressive portfolio from his corrupt dealings as governor of one of the oil-rich states in Nigeria since his first election in 1999. Beginning his political career as a medical doctor with a small private clinic in Port Harcourt, he now hosts extravagant events and boasts that it would not have been possible "before he became governor."  Further, he is widely suspected of being directly responsible for facilitating massive irregularities in both the 1999 and 2003 elections. His own state officials have claimed that Odili has employed militia groups, many of which are responsible for the continuing unrest in the delta region.

CHECK--Each of the 36 state governors donated 10 million naira (about $75,000) to the Obasanjo library project.   Following a public outcry, the library organizers stated the donations were from the governors' personal funds, but several governors backpedaled from their commitments, claiming they had made no such pledges.  When a Lagos lawyer filed a code of conduct complaint alleging conflict of interest in the President's receiving these donations from recipients of government funds, Obasanjo invoked the immunity clause of the constitution, and the complaint died out.

From the wikileak reveal. Anyone with an eye will notice how this accusation stands in the mist of others that we have, over time, learnt to be somewhat factual.

cap28:

western nations will always have their feet on the neck of african nations because dullards like you continue to make it possible, i gave you an example of one of the richest economies in the world - america owing over $3 trillion, why hasnt america paid china back this huge sum of money?

another example is iceland that are owing britain and holland a paltry $3billion - why havent they paid this back?

in the case of iceland they even had a referendum and the people of iceland voted AGAINST paying it off and called for the entire sum to be written off - the citizens of both of these countries enjoy a much higher standard of living than the average nigerian and yet they were unwilling to suffer the burden of higher taxes and cuts in govt spending in order to pay off a their creditors. contrast this with nigeria where the vast majority of the population lives in poverty and yet obasanjo and okonjo iwealla felt obliged to divert money which could be better spent on education and health care into paying off a debt which had already been paid off 10 fold years ago.

only in nigeria do you have poor people arguing to have their already grim standard of living reduced to an even lower level in order to pay off debt - and make no mistake about it  the money which was used to service this debt is money which should have been used to provide jobs, health care and education for the nigerian people.

this is indeed proof that the vast number of  nigerians are actually mentally slow.

Yeah a dullard I am but way smarter than you, at least I'm willing to put your theories and number to test. Before you argue blindly and stupidly, please make sure you know what the heck you are talking about. America and China have been through several negotiations, as it stands, Congress already setup a debt committee for this purpose and by the time negotiation is finished, I'm sure something will be worked. The question isn't if a loan is owed or NOT, Nigeria owes, America Owes, Nigeria defaulted and seeking a lenient approach towards consolidation on the other hand America hasn't defaulted, well not if you call the Aug 2nd shenanigan default, which wasn't official, Nigeria probably has a C +/- CREDIT RATING, America on the other hand has a AAA+ rating until it was downgraded by Standards and Poor last month. Now dumb dumb, these are the reasons what a debtor sees before considering what options they have for you. The higher the rating, the lesser the risk, and while you're mentioning America, the dollar although in a slight decline, is the most liquid and less risk currency with low risk probability of default, look it up in finance and money.


I don't know about Britain and Holland, but believe me this your comparison is just foolish. If Nigeria owes America $3billion, how is that same as Nigeria owing an finance organization / international bank that is in business primarily for profit? Dude think with your brain man, like seriously? Again, you here calling Iceland, these were the terms that their leader put forward before and prior to the loans existence, you called Iceland, why did you not call GREECE, even Italy as of last week were in a big debt problem, leave your thrash to the side and face reality.

After your so-called referendum, and when it goes to paying it that you're nation is cut-off from international liquid credit, you will then explain how your so-called referendum has helped you so far.

wiki
wiki
wiki
how many times did i  call you?  Dont fall  my role models hand ohh      
btw its okonjo not okonju ok?