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Nairaland Forum / Nairaland / General / Politics / Dauda Lawal Testifies Against Magu (31580 Views)
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Re: Dauda Lawal Testifies Against Magu by wink2015(m): 9:25am On Jul 27, 2020 |
MONEY THAT WOULD HAVE BEEN USED TO SOLVE EROSION PROBLEMS IN THE NIGER DELTA REGIONS LIKE ABARI TOWN IN PATANI LOCAL GOVERNMENT AREA, DELTA STATE IS BEEN STOLEN. https://www.youtube.com/watch?v=kg8twluBrLU |
Re: Dauda Lawal Testifies Against Magu by ArsenalG: 9:32am On Jul 27, 2020 |
They are all thieves and has continued to cripple the endeavours honest workers. Dauda Lawal confirmed he was able to borrow 50% of the money he was asked to pay by the EFCC while in detention. ![]() ![]() Y'all are bloody thieves 1 Like |
Re: Dauda Lawal Testifies Against Magu by jasedge15(m): 9:32am On Jul 27, 2020 |
I can only imagine the next level of looting the new generation politicians of Nigeria will bring to the table. It's going to be bloody fantastic. 1 Like |
Re: Dauda Lawal Testifies Against Magu by Enyimbamercedes: 9:34am On Jul 27, 2020 |
Let's say it as it is Magu is a thief |
Re: Dauda Lawal Testifies Against Magu by sterlingD(m): 9:34am On Jul 27, 2020 |
frankyychiji:It is sad, very unfortunate and it is the truth 1 Like |
Re: Dauda Lawal Testifies Against Magu by frankyychiji(f): 9:40am On Jul 27, 2020 |
jasedge15:Very bloody and in bitcoins 1 Like |
Re: Dauda Lawal Testifies Against Magu by BigBashiru: 9:40am On Jul 27, 2020 |
RuudVanNisteroy: But is it that Nigeria is spiritually cursed (Hams/Canaans curse in Genesis). Why the endemic corruption ![]() 1 Like |
Re: Dauda Lawal Testifies Against Magu by mide976(m): 9:43am On Jul 27, 2020 |
Thief dey testify against thief. Nothing wey musa no go see for him gate. Abeg design your business logo for 2k. Call or Whatsapp me on +2347030849074. Reliable and trustworthy. Have a fruitful week! 1 Like |
Re: Dauda Lawal Testifies Against Magu by fawaz050(m): 9:46am On Jul 27, 2020 |
CodeTemplar: Abi ooo. How much did Olu maintain collect sef, that he was singing Yahooze. These are the real Yahoozes 2 Likes 2 Shares |
Re: Dauda Lawal Testifies Against Magu by Nobody: 9:46am On Jul 27, 2020 |
fyneguy: That man is corrupt as hell. 1 Like |
Re: Dauda Lawal Testifies Against Magu by batstan(m): 9:52am On Jul 27, 2020 |
RuudVanNisteroy:You missed this "Consequently, in a three-week period between May 13 and June 6, 2016, I was made to surrender to the EFCC Recovery Account at the Central Bank of Nigeria the total sum of N9.08bn" |
Re: Dauda Lawal Testifies Against Magu by Advancedman(m): 10:06am On Jul 27, 2020 |
RuudVanNisteroy: And his repayment source. 1 Like |
Re: Dauda Lawal Testifies Against Magu by Posh2018: 10:10am On Jul 27, 2020 |
Miyachi: So that makes it right. If a bank does withdrawal without the appropriate instruments, then it bears the lost if it happens. A bank directors or CEO can actually be charged for liquidating a bank. Hope you know |
Re: Dauda Lawal Testifies Against Magu by einsteine(m): 10:15am On Jul 27, 2020 |
I remembered this man when he came to give us a speech at FBN training school. Fun times. He started his banking career as an Assistant Manager, no banking experience whatsoever. His only experience was in the Nigerian Embassy in Washington DC. Atiku wanted to help him get a job in the NPA but he said he preferred the private sector. Took him 12 years to go from Assistant Manager to Executive Director. Fast rise. 2 Likes 1 Share |
Re: Dauda Lawal Testifies Against Magu by bejeria101(m): 10:17am On Jul 27, 2020 |
Is this the same justice salami that was bounded and hunted down or is this another justice salami? 1 Like |
Re: Dauda Lawal Testifies Against Magu by Posh2018: 10:18am On Jul 27, 2020 |
Enyimbamercedes: Not sure u are reading 1 Like 1 Share |
Re: Dauda Lawal Testifies Against Magu by einsteine(m): 10:22am On Jul 27, 2020 |
DelTel: You are obviously not familiar with private banking. In Nigeria, there are branches of banks that are not even branded for top customers. Customers can be in Any Dhabi and request for cash and it is brought to their doorstep there through an agent of the bank. Secondly, money laundering is not about receiving cash. That's how the EFCC loses cases. It is about receiving cash without going through a financial institution. For instance, I see a lot of people talking about Tinubu's bullion van and saying he should be charged for money laundering. The EFCC would lose that kind of case so long as he can prove that the money was properly earned and is not the proceeds of crime. You can withdraw one billion cash from your own account. What you can't do is buy property (for instance) from another person by giving them that one billion cash. However, you can deposit the same one billion cash into the person's account. 1 Like |
Re: Dauda Lawal Testifies Against Magu by rapid101(m): 10:31am On Jul 27, 2020 |
gnykelly:bro no mind abeg. they re always gud at chasing shadows |
Re: Dauda Lawal Testifies Against Magu by gnykelly(m): 10:33am On Jul 27, 2020 |
bkool7: it's not criminal. the witness can not be tried in regards to this case even if the source of funds is illegal. another case can be instituted. |
Re: Dauda Lawal Testifies Against Magu by OROSUNBOLB(m): 11:11am On Jul 27, 2020 |
How could you receive such a huge amount of money into your vault without investigating its source(s) ? Whatever happened to anti money laundering act ? Mr Lawal deliberately ignored that act because he was an active participant in the shady deal obviously. He did it for a benefit. Somebody here talked about creditworthiness of Mr Lawal and I sincerely find it quite laughable. So a certain Lawal could walk into the vault of first bank and took out a whopping sum of $20m as a loan because he happened to be an ED ? He had to "borrow" from the bank and some of his friends to pay for what he claimed he did not receive ! He had to "borrow" to buy his freedom because he is a man of questionable integrity. First bank needs to be urgently investigated by CBN if the information given by Mr Lawal is anything to go by. How did Mr Lawal intend to repay the said loan and what are the drawn out plans for it ? Is there any collateral in place in case of default ? Is there any approval for the loan and by who ? I honestly believe that Mr Lawal is a criminal. 1 Like |
Re: Dauda Lawal Testifies Against Magu by Nobody: 11:29am On Jul 27, 2020 |
This country is more richer than some European countries eg Slovakia, Slovenia, Serbia, Moldova and so on But what are we going to do when we have bad leaders I pray they all sleep and don't wake up again ![]() 1 Like |
Re: Dauda Lawal Testifies Against Magu by wallrichy: 11:33am On Jul 27, 2020 |
DAUDA LAWAL ANTECEDENT TO A HIGHER POSITION IN A FRAUD INFECTED CORRUPT STINKING COUNTRY. A DUNCE AND UNQUALIFIED IDIOT AS EXECUTIVE DIRECTOR OF A PREMIER BANK. FIRST BANK OF NIGERIA. (ANY FOOLS OR DUNCE FROM THE NORTHERN NIGERIA CAN BECOME A BILLIONAIRE OR VERY POWERFUL IN A CORRUPT INFESTED HAUSA FULANI CONTROLLED NATION CALLED NIGERIA) Dauda Lawal (born 2 September 1965), is a Nigerian Banker, Who is known to be an established leader in the Nigerian Banking Industry. Lawal was known to be one of the key players in the financial sector of the Nigerian Economy [1] as he served as the Executive Director, Public Sector North, of First Bank of Nigeria Plc.[2] Dauda Lawal Ph.D Born Dauda Lawal 2 September 1965 (age 54) Zamfara, Zamfara State, Nigeria Nationality Nigerian Citizenship Nigerian (1957-present) Education Political Science Alma mater Ahmadu Bello University, Kaduna Occupation Banker (Former Executive Director, Public Sector North),First Bank of Nigeria Plc. Years active 2003—present Early life Edit Dauda Lawal, an ethnic Muslim Hausa from Zamfara State, Dauda was born on 2 September 1965 into a humble family popularly known in the textile industry in Gusau, Zamfara State. Education Edit Lawal graduated from Ahmadu Bello University in 1987 with B.Sc in Political Science. he obtained an M.Sc in Political Science/International Relations from the same university in 1992, and holds a PhD in Business Administration from Usmanu Danfodiyo University, Sokoto, before going further to develop himself by taking courses at prestigious universities including the London School of Economics, Harvard Business School, Oxford University Business School and Lagos Business School among others. [3] Professional career Edit He started his working career in 1989 as a Political Education Officer with the Agency for Mass Mobilization for Social and Economic Reliance Nigeria. In 1989, he joined Westex Nigeria Limited as an Assistant General Manager.[4] In 1994 he was appointed as an Assistant Consular Officer (Immigration), and later Chief Protocol Officer, Embassy of Nigeria, Washington, DC, USA. Dauda Lawal joined First Bank of Nigeria Plc in May 2003; as Relationship Manager, Commercial Banking and was at various times Senior Manager, Abuja Area office, Business Development Manager, Abuja, Principal Manager, Group Head PSG II, Assistant General Manager (Business Development Manager), Maitama, Deputy General Manager (Business Development Manager), Maitama/Group Head Public Sector, Abuja. Between October 2010 and September 2011 Mr. Lawal was elevated to the position of Executive Vice President, Public Sector, North of First Bank of Nigeria Plc. In September 2012 he became Executive Director, Public Sector North, of First Bank of Nigeria Plc.[5] Dauda Lawal ran for office in 2019 for Governor of Zamfara state[6] under the flagship of APC. Lawal was charged by the Economic and Financial Crimes Commission EFCC for allegedly helping a former Minister of Petroleum Resources, Diezani Allison-Madueke, to conceal a total of $153.3million in Fidelity Bank in 2015. In the charge sheet marked FHC/4419c/18 before the Federal High Court in Lagos Awards References Further reading Last edited 4 months ago by Lawal Mustapha Maigari RELATED ARTICLES Olorogun O'tega Emerhor Aishah Ahmad Nigerian accountant, financial analyst and financial manager Mukhtar Shehu Idris Nigerian politician 1 Like |
Re: Dauda Lawal Testifies Against Magu by Asour: 11:36am On Jul 27, 2020 |
Xisnin: The law is BOFIA. Although it has been amended, A bank director shouldn't access up to even N20m unsecured loan from the bank. You may say the loan was secured. But then at short notice? What assets were valued/collaterized? All these while he was in detention? We are talking billions here oh? What committee sat to approve it? A bank's fall is NOT "not our business". The impact of a Commercial bank's collapse would be far reaching. These guys are ridiculous. The law was reviewed recently too. https://www.vanguardngr.com/2020/07/senate-passes-29-year-old-bofia-amendment-act/amp/&ved=2ahUKEwj01Kufm-3qAhXHTcAKHf45Dt8QFjACegQIBBAB&usg=AOvVaw1d-baVTdd9-yUQNZUxHYW-&cf=1 1 Like |
Re: Dauda Lawal Testifies Against Magu by frog12: 11:39am On Jul 27, 2020 |
this man is a bad witness |
Re: Dauda Lawal Testifies Against Magu by pappilo(m): 12:00pm On Jul 27, 2020 |
einsteine: I read his wiki entry and was shocked at his rise. but if you say he was Atiku's boy then it makes a lot more sense. He even ran for governor in 2019 under APC |
Re: Dauda Lawal Testifies Against Magu by Enyimbamercedes: 12:04pm On Jul 27, 2020 |
Posh2018: You are correct; I didnt read it. Doesn't change the fact that he is a thief. He is mentioned in the report, I do not care what it says or what he or his lawyer wishes to say...he is a thief |
Re: Dauda Lawal Testifies Against Magu by Nobody: 12:13pm On Jul 27, 2020 |
einsteine:You have not read the Money Laundering Act. It is a crime for individuals to move more than N5 milllion in physical cash. |
Re: Dauda Lawal Testifies Against Magu by Nobody: 12:30pm On Jul 27, 2020 |
This are the same people that condemn internet fraud, Hypocrites, what kind of Nonsense is this, and nothing will be done to this criminals at the end of the day. Really shameful Country. All Over the world other countries are trying to help their citizens and businesses with financial support during this harsh period, but all we hear in Nigeria is Apc, NDDC, EFCC, all this useless, worthless human beings stealing money that was meant for the entire country !!! Like what exactly would you use stolen 25 million dollars for??, That money is more than enough for an entire community, how much cars, houses and luxury can you buy with a stolen money?? I dont understand why Nigeria is this cursed?? Even the richest people in the world dont have all this money cash sitting in their account, This is really disgusting. 1 Like |
Re: Dauda Lawal Testifies Against Magu by einsteine(m): 12:48pm On Jul 27, 2020 |
RuudVanNisteroy: Go and read it and get back to me. It is not a crime to move more than 5 million in cash. It is a crime to carry out cash transactions above 5 million without the use of a financial institution. |
Re: Dauda Lawal Testifies Against Magu by winnah(f): 1:01pm On Jul 27, 2020 |
Sense will not kill you... Your damn good in investigation and observation of fact finding!! RuudVanNisteroy: |
Re: Dauda Lawal Testifies Against Magu by Xisnin(m): 1:03pm On Jul 27, 2020 |
Asour:It is not illegal for a bank director to secure more than N20 million loan. You should direct your question to First bank. Perhaps a FOI request can override the banks need to protect customers information. But logic demands that a director who helped a friend to receive $65 million dollar and caused $40 million dollar to disappear isn't particularly poor as he must have been in the game for long. How is his detention relevant to the loan application? Even if it is trillion, it is the perogative of the bank to review, approve or reject a loan application in line with their policies. Yes, it is still none of your business. Commercial banks are established to make profit for its shareholders just like any other business. A bank's collapse or acquisition is a normal part of a capitalistic system. There are those who deny the reality but experience from every "free" country shows that banks are no more protected from failures than any other big organizations and the so-called regulation are often useless in the long run. There is nothing ridiculous about the loan. Assuming the worst when you are not privy to the full details is lazy. If you have evidence of foul play, you can pass it over to the CBN who has the right to impose fines. We don't even know the exact amount he borrowed as he already got 50% without needing a loan. We don't know his investments, net worth or whether the loan was requested using his personal name only. Even this ammended act is a joke. If all I will get for borrowing billions is a few millions fine, then that is hardly a deterrence. |
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