I love this man. We need such leaders as this. I pray God to use him to deliver this country from its present ruin.

It's just her dressing. The cook is more beautiful. You cannot imaging how boring life can be if u & ur family will have to cue at a food joint for ur meals. What's beauty for if it becomes a burden.

Please may I borrow for self defence against BH

FOOLISH is anybody fighting another person because of GEJ & SILLY is anyone fighting another person because of GMB. Can we be SANE for once and be objective in our arguements. Atleast stop abusing. Tnx

Pls get it straight, this is Child Sexual abuse. U'll be amazed @ what dat child would do when placed beside another child. The brain processes information fast & it sticks longer because d child is trying to adapt to the new environment he is now in & he is learning new things everyday.

By telling the truth

Nigeria is like a stage drama. You may likely never predict the next scene. We are still watching & praying God He saves us. Amen

Just take away the icing & u will b amazed @ what a sumptuous meal that is

How I’ll revive the economy — Buhari
on february 03, 2015 at 9:34 am in politics
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By Emmanuel Aziken, Political Editor
All Progressives Congress, APC presidential candidate, Gen. Muhammadu Buhari (ret), yesterday, unfolded his plans on how to revive the Nigerian economy before the Organised Private Sector, OPS, in Lagos, asserting that tackling corruption and insecurity were key elements to the plan.

At the meeting, entitled, ‘GMB Means Business,” Buhari put privatisation of the transmission companies, construction of inter-state roads, revival of local refinery production, among other schemes, to boost job growth in the economy.
Buhari, nevertheless asserted that whatever plans aimed at reviving the economy could only yield fruit if corruption and the spate of insecurity in the country are frontally tackled. He said that an opinion poll conducted prior to the production of the manifesto of the APC showed that majority of Nigerians put insecurity, corruption and the economy as their major priorities.
Giving his plans on how roads reconstruction could revive jobs, he said: “We will concentrate on the roads and highways that link up Nigerian states, while state governments will be expected to connect their states to these highways by building the last mile connections.
“Road construction alone will unlock a value chain of opportunities in the building industry for construction companies, builders, engineers, architects, quarry operators, cement and iron rod production and supply.
“The successful opening up of Nigeria by the construction of new roads and highways will revive road transportation, truck manufacture, tyre manufacture, engine oil, brake pad productions on one hand.
“It will also create a demand for jobs for mechanics, drivers and those engaged in transport support business. We expect a revival of all the inter-state economies that used to thrive across Nigeria, providing support to travellers by way of canteens, restaurants, farm produce, etc.”
Noting the cost of corruption to the economy, the presidential candidate cited issues with the unresolved $20 billion allegedly missing funds from crude receipts.
He said: “Corruption affects our ability to secure ourselves, and it also undermines the performance of the economy.
“This current government is being challenged to account for an estimated $20 billion and the whole country is awaiting a report of a forensic audit. $20 Billion at N210 to $1.00 is equal to N4.2 trillion – nearly a year’s federal budget.
“If it is true that this sum cannot be accounted for, this is grossest form of corruption. Just think at N5 million per vehicle, this money would have bought 840,000 patrol vehicles; (this would have improved security in every town and village in the country)
“At N13.5 million for a high capacity bus this money would have bought 311,000 buses; (this would have revolutionised the transport and production side of the economy)
“From information at my disposal, Lekki Bridge in Lagos cost N29 billion to construct. N4.2 trillion would have built 145 Lekki bridges; (this would have revolutionised transport, infrastructure, construction, employment in the economy)
“If the average cost of generating one mega watt of power is about US $1.5 million (excluding gas and distribution costs), $20 billion would have bought  over 13,333 mega watts of power. What a difference that would make up and down the country!
“If you also factor the N2.2 trillion spent on subsidising fuel import which became a huge scandal, you may then understand why our manifesto focuses on the issues of security, corruption and the economy.
“We are too vulnerable as a nation at this moment if we have to import fuel to move our planes, our tanks and our men. We are too vulnerable as you can see that we also have to import arms. We are vulnerable because our troops also depend on imported food.”
Buhari was escorted to the meeting by Governor Babatunde Fashola, Chief John Odigie-Oyegun, national chairman of the APC;  Governor Rotimi Amaechi, director general of the APC Presidential Campaign Organisation;  Mallam Nasir el-Rufai, APC governorship candidate in Kaduna State,  among others.

REVEALED: N6.87trn Stolen From Nigeria Yearly - AU Report

PrynceAdore
Administrator
Posts: 2417



Nigeria, the world's seventh largest producer of hydrocarbon, accounts for about 68.1 per cent of the total revenue Africa is losing annually as a result of illegal transfer of revenues abroad.

The report of the Thabo Mbeki High Level Panel on Illicit Financial Flows from Africa adopted on Sunday by African Union Heads of State and Government at their summit in Addis Ababa, Ethiopia said about $40.9 billion (about N6.87 trillion) of an estimated $60 billion (about N10.08 trillion) lost through such transfers from Africa are traced to Nigeria.

The funds are stolen through corruption, tax evasion and illegal transfer of profits by multinationals, the AU said.

Nigeria, which produces an average of 2.3 million barrels of oil daily as the leading hydrocarbon producer in Africa, is being ravaged by poverty and underdevelopment.

The report also identified Egypt and Morocco as the other countries with the largest estimates of illicit financial flows statistics of $28.2 billion and $20.3 billion respectively.

Nigeria, Egypt top list

Cumulatively, Nigeria and Egypt topped the list of 10 African countries by illicit financial transfers between 1970 and 2008, with $217.7 billion (about N36.57trillion), or 30.5 per cent, and $105.2 billion (about N17.67trillion), or 14.7 per cent respectively, while South Africa had $81.8billion (about N13.74 trillion), or 11.4 per cent.

Concerned by the high losses through these illegal transfers, which was identified in 2011 as one of the threats to the inability of most resource-rich countries in Africa to meet their millennium development goals, MDGs, the AU at its 4th Joint African Union Commission/United Nations Economic Commission for Africa, AUC/ECA, Conference of African Ministers of Finance, Planning and Economic Development constituted the Mbeki Panel to review the underlying issues stalling Africa's accelerated and sustained development objective.

Recommendations

At the presentation of the report on Saturday, the panel gave a set of recommendations that would guide African leaders in checking the growing threats of the menace to the continent's economy, including the activities of extremist groups, instability, and poverty.

Part of the recommendations included a system that would allow automatic exchange of tax information among African countries and globally to check illegal profits shifting by multinational corporations to subsidiaries in tax haven or secrecy jurisdictions.

In its 15-point findings, the panel noted that ending illicit financial flows is a political decision by the various governments as it involved issues of abusive transfer pricing, trade mis-invoicing, tax evasion, aggressive tax avoidance, double taxation, tax incentives, unfair contracts, financial secrecy, money laundering, smuggling, trafficking and abuse of entrusted power.

The interrelationships of these issues, it stated, conferred a technical character requiring transparency across all aspects to ensure access to information and the right to obtain such information.

Illegal profits shifting by multinationals

The panel, which noted illegal profits shifting by multinational corporations as one of the biggest single source of illicit outflows in the continent, advised countries to ensure that the automatic exchange of tax information be subject to national capacity, to maintain the confidentiality of price-sensitive business information.

The dependence on natural resource extraction, it noted, makes African countries vulnerable to illicit financial flows, pointing out that there was need to pay attention to activities in the sector in an effort to check illicit financial flows in Africa.

"African countries need to acquire the capacities and technology to monitor extraction of their natural resources better and to negotiate contracts more effectively," the report said.

According to the report, tax incentives were not usually guided by cost-benefit analyses, as such African countries grant a host of tax incentives, such as tax holidays, investment allowances, tax rate reductions and administrative discretion in order to attract foreign direct investment, FDI.

Considering the effort needed in asset recovery and repatriation, the report said regulations and mechanisms were needed to ensure that financial establishments and banks identified and refuse to accept illicit financial flows, rather than relying on self-regulation by banks.

http://www.vanguardngr.com/2015/02/n6-87trn-stolen-nigeria-yearly-au-report/

REVEALED: N6.87trn Stolen From Nigeria Yearly - AU Report

PrynceAdore
Administrator
Posts: 2417



Nigeria, the world's seventh largest producer of hydrocarbon, accounts for about 68.1 per cent of the total revenue Africa is losing annually as a result of illegal transfer of revenues abroad.

The report of the Thabo Mbeki High Level Panel on Illicit Financial Flows from Africa adopted on Sunday by African Union Heads of State and Government at their summit in Addis Ababa, Ethiopia said about $40.9 billion (about N6.87 trillion) of an estimated $60 billion (about N10.08 trillion) lost through such transfers from Africa are traced to Nigeria.

The funds are stolen through corruption, tax evasion and illegal transfer of profits by multinationals, the AU said.

Nigeria, which produces an average of 2.3 million barrels of oil daily as the leading hydrocarbon producer in Africa, is being ravaged by poverty and underdevelopment.

The report also identified Egypt and Morocco as the other countries with the largest estimates of illicit financial flows statistics of $28.2 billion and $20.3 billion respectively.

Nigeria, Egypt top list

Cumulatively, Nigeria and Egypt topped the list of 10 African countries by illicit financial transfers between 1970 and 2008, with $217.7 billion (about N36.57trillion), or 30.5 per cent, and $105.2 billion (about N17.67trillion), or 14.7 per cent respectively, while South Africa had $81.8billion (about N13.74 trillion), or 11.4 per cent.

Concerned by the high losses through these illegal transfers, which was identified in 2011 as one of the threats to the inability of most resource-rich countries in Africa to meet their millennium development goals, MDGs, the AU at its 4th Joint African Union Commission/United Nations Economic Commission for Africa, AUC/ECA, Conference of African Ministers of Finance, Planning and Economic Development constituted the Mbeki Panel to review the underlying issues stalling Africa's accelerated and sustained development objective.

Recommendations

At the presentation of the report on Saturday, the panel gave a set of recommendations that would guide African leaders in checking the growing threats of the menace to the continent's economy, including the activities of extremist groups, instability, and poverty.

Part of the recommendations included a system that would allow automatic exchange of tax information among African countries and globally to check illegal profits shifting by multinational corporations to subsidiaries in tax haven or secrecy jurisdictions.

In its 15-point findings, the panel noted that ending illicit financial flows is a political decision by the various governments as it involved issues of abusive transfer pricing, trade mis-invoicing, tax evasion, aggressive tax avoidance, double taxation, tax incentives, unfair contracts, financial secrecy, money laundering, smuggling, trafficking and abuse of entrusted power.

The interrelationships of these issues, it stated, conferred a technical character requiring transparency across all aspects to ensure access to information and the right to obtain such information.

Illegal profits shifting by multinationals

The panel, which noted illegal profits shifting by multinational corporations as one of the biggest single source of illicit outflows in the continent, advised countries to ensure that the automatic exchange of tax information be subject to national capacity, to maintain the confidentiality of price-sensitive business information.

The dependence on natural resource extraction, it noted, makes African countries vulnerable to illicit financial flows, pointing out that there was need to pay attention to activities in the sector in an effort to check illicit financial flows in Africa.

"African countries need to acquire the capacities and technology to monitor extraction of their natural resources better and to negotiate contracts more effectively," the report said.

According to the report, tax incentives were not usually guided by cost-benefit analyses, as such African countries grant a host of tax incentives, such as tax holidays, investment allowances, tax rate reductions and administrative discretion in order to attract foreign direct investment, FDI.

Considering the effort needed in asset recovery and repatriation, the report said regulations and mechanisms were needed to ensure that financial establishments and banks identified and refuse to accept illicit financial flows, rather than relying on self-regulation by banks.

http://www.vanguardngr.com/2015/02/n6-87trn-stolen-nigeria-yearly-au-report/

Wow. We seem to lose touch of history so quickly due to the fact that our generation are more engrosed with what today has to offer. Indeed our fathers went through mental brutality and psychological trauma. God save Nigeria.