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

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. Brethren we are talking about $20million USD not naira here oo. covert it even with the dolla-naira rate as at 20th May 2016 which was @ $1= N199.2496 , its approximately N4b. he borrowed and would pay back oo. hmm
Y'all are bloody thieves

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.

Let's say it as it is

Magu is a thief

frankyychiji:
Are you surprised? The banks are always in the middle of any corrupt practice. This is not limited to dauda and his bank.

It is sad, very unfortunate and it is the truth

jasedge15:
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.

Very bloody and in bitcoins

RuudVanNisteroy:

The Humanitarian ministry needs to be scrapped. The corruption going on under the guise of feeding school children will be child play compared to what is happening in NDDC.

All of them are trying to cash out and secure their generation for the next thousand years.

But is it that Nigeria is spiritually cursed (Hams/Canaans curse in Genesis). Why the endemic corruption

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!

CodeTemplar:
See figures... The Daudu Lawal dude is a clinical liar. He was made to cough out around $20m just like that because of 11 days detention. Who does that? He is lying.

Abi ooo. How much did Olu maintain collect sef, that he was singing Yahooze. These are the real Yahoozes

fyneguy:
How was he able to raise $20M from friends and the bank?

That man is corrupt as hell.

RuudVanNisteroy:
"Because I never had this EFCC invented $40m to give, I had to use my personal connections to source for and raise about 50 per cent of the said amount while I was in detention. I managed to borrow some of the money from the bank where I am an executive director and surrendered it to the EFCC through my legal counsel and was eventually released from detention on May 20, 2016."


The corruption in this country is worse than in Sodom and Gomorrah.

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"

RuudVanNisteroy:

Lawal borrowed 20 million dollars from First Bank and friends to be released from EFCC custody. Shareholders from First Bank should be worried by this testimony, how lax the rules are for directors to borrow billions from the bank. And questions needs to be asked about the sources of funds the friends who loaned him millions of dollars.

And his repayment source.

Miyachi:


You have to understand that a lot of informal banking relations happen between bankers and high profile customers. A customer could even request for a withdrawal to be brought to his home/office before even signing a check/ withdrawal slip.

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

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.

Is this the same justice salami that was bounded and hunted down or is this another justice salami?

Enyimbamercedes:
Let's say it as it is

Magu is a thief

Not sure u are reading

DelTel:


Reading this raises a lot of red-flags and story reeks of Nollywood to say the least!

This is a serious indictment on First Bank and Malami.

a) how can a bank ED be talking like a novice (even baba Alajo Somolu won't collect such amount from anyone in cash)! A friend/customer called you to pick up $25m CASH and you did! Are banking transactions/deposit done outside the banking halls? Did the customer fill a deposit slip? Which bank account was the money lodged and posted into,? A bank ED didn't know that is money laundering? he didn't even fear from his life and loved ones! What if some people were aware, planned to hijack the money from you killing you in the process! Suffice to say, Dauda Lawal rose through the ranks in banking and FBN by collecting cash deposits!

b) to think Malami and the Panel would allow this testimony/petition be granted audience is alarming! A case still in court, with this it has confirmed the case has ended since AGF believes this cock-and-bull narrative of a story!

Anywyz, wetin I sabi.

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.

gnykelly:


you created the thread.

you should have seen where. he was asked to testify without prejudice

bro no mind abeg. they re always gud at chasing shadows

bkool7:


That itself is criminal.

So , if he now reveals he actually collected more from Maduake he won't be prosecuted.
Does the Panel have that right?

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.

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.

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

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
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Xisnin:

That's none of your business.
If First bank considered him to be of good credit, so be it.

Calling for investigation or interventions into every micro-decisions taken by organizations
especially a private one is counterproductive and only create an hostile business
environment which is reflected in the price of goods and services.

If it is illegal for an executive of a bank to get a loan from his employer, please clearly
state the law against it.

And BTW, there is no such thing as "insider trading loan" and it doesn't
mean what you think it does.

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-&ampcf=1

this man is a bad witness

einsteine:
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.

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

Posh2018:


Not sure u are reading

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

einsteine:



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.

You have not read the Money Laundering Act. It is a crime for individuals to move more than N5 milllion in physical cash.

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.

RuudVanNisteroy:

You have not read the Money Laundering Act. It is a crime for individuals to move more than N5 milllion in physical cash.

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.

Sense will not kill you... Your damn good in investigation and observation of fact finding!!

RuudVanNisteroy:

Lawal borrowed 20 million dollars from First Bank and friends to be released from EFCC custody. Shareholders from First Bank should be worried by this testimony, how lax the rules are for directors to borrow billions from the bank. And questions needs to be asked about the sources of funds the friends who loaned him millions of dollars.

Asour:



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?

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.

All these while he was in detention?
We are talking billions here oh?
What committee sat to approve it?

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.

A bank's fall is NOT "not our business".

The impact of a Commercial bank's collapse would be far reaching.

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.

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-&ampcf=1

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.