• Home
  • Anti-Corruption
  • Fact-Check
  • Economy
  • National
    • Government
  • Security
  • Features
  • State
  • Event
    • PR Nigeria Award
  • E-Paper
Search
  • Home
  • About
  • Adverts
  • Contact
Sign in
Welcome! Log into your account
Forgot your password? Get help
Password recovery
Recover your password
A password will be e-mailed to you.
PRNIGERIA PRNigeria News
PRNIGERIA PRNIGERIA
  • Home
  • Anti-Corruption
    • Engr Abba Babagana Dalori

      Engr Dalori Forfeits Galaxy Hospital, Petrol Station, Properties & Cash

      Chinese nationals jailed in Lagos

      Court Jails Nine Chinese Nationals for Cybercrime in Lagos

      ASUU

      Tackle Corruption, Institutional Decay – ASUU Charges FG

      EFCC Arraigns Bauchi Accountant General Over N8bn Fraud as Court Sentences…

      PRNigeria logo fearured image

      EFCC Arraigns Ex-Convict, Other for Naira Abuse in Lagos

  • Fact-Check
  • Economy
    • Acting Controller General of Customs, Nigerian Customs Services, NSC, Ag. CG Bashir Adewale Adeniyi

      Adeniyi Inaugurates Lagos School Renovated by Nigeria Customs 

      Abdullahi Aliyu Maiwada

      Customs’ Maiwada Named Among Nigeria’s 50 Most Influential PR Voices

      Acting Controller General of Customs, Nigerian Customs Services, NSC, Ag. CG Bashir Adewale Adeniyi

      Customs Exposes Scam Over Form M Migration to B’Odogwu Platform

      CBN

      The Facts About Nigeria’s Debts Burden Under Tinubu’s Watch By Zekeri…

      Ibrahim Yahaya Dandakata of Arewa Economic Forum AEF

      AEF Slams CBN’s New BDC Policy, Cites Threat to Northern Economy…

  • National
    • Nnamdi Kanu of IPOB arrested by Nigerian security services

      Nnamdi Kanu’s Threat to Break Up Nigeria Was Deliberate, FG Insists

      NUJ election

      NUJ Urges Constitutional Backing for Journalists, Proposes Media Bailout Fund

      Tinubu Appoints IBB’s Son as Chairman, Bank of Agriculture, Names Heads…

      Bashir Adewale Adeniyi Customs Boss

      In Rivers, Customs Hands Over N20.5bn Worth of Fake Drugs to…

      Military Troops in Action

      COUNTER-TERRORISM OPERATIONS: Troops Arrest Terrorists Collaborators, Eliminate Scores, Seize Weapons, Rescue…

    • Government
      • IPRA GWA

        IPRA Calls on UN to Curb Misinformation from AI and Social…

        Nnamdi Kanu of IPOB arrested by Nigerian security services

        Nnamdi Kanu’s Threat to Break Up Nigeria Was Deliberate, FG Insists

        NUJ election

        NUJ Urges Constitutional Backing for Journalists, Proposes Media Bailout Fund

        Tinubu Appoints IBB’s Son as Chairman, Bank of Agriculture, Names Heads…

        Late President Muhammadu Buhari

        Critique of Renaming University of Maiduguri after Muhammadu Buhari By Dr…

  • Security
    • Nnamdi Kanu of IPOB arrested by Nigerian security services

      Nnamdi Kanu’s Threat to Break Up Nigeria Was Deliberate, FG Insists

      Nigerian Police Force

      Benue Police Nab Notorious Arms Traffickers, Recover Rocket Launcher, AK-47 Rifles,…

      Bashir Adewale Adeniyi Customs Boss

      In Rivers, Customs Hands Over N20.5bn Worth of Fake Drugs to…

      Military Troops in Action

      COUNTER-TERRORISM OPERATIONS: Troops Arrest Terrorists Collaborators, Eliminate Scores, Seize Weapons, Rescue…

      Lord Jonathan Marland, Chairman of the Commonwealth Enterprise and Investment Council (CWEIC), and Ministry of Defence Perm Sec Ambassador Gabriel Tanimu Aduda

      UK-Nigeria Pact to Drive Defence Innovation, Joint Ventures

  • Features
    • Late President Muhammadu Buhari

      Critique of Renaming University of Maiduguri after Muhammadu Buhari By Dr…

      Late President Muhammadu Buhari

      Buhari’s Shocker: I look Forward to Leaving, and when it’s …

      Buhari: The Soldier Who Couldn’t Conquer Democracy By Umar Farouk Bala

      Gen Lucky Irabor and Muhammadu Buhari

      Beyond the Public Gaze: Gen Irabor’s Intimate Farewell to Buhari

      Vice Admiral Awwal Z Gambo and Late President Muhammadu Buhari

      Tribute to the Late Former President Buhari, By Vice Admiral Awwal…

  • State
    • IPRA GWA

      IPRA Calls on UN to Curb Misinformation from AI and Social…

      Nigerian Police Force

      Benue Police Nab Notorious Arms Traffickers, Recover Rocket Launcher, AK-47 Rifles,…

      Bashir Adewale Adeniyi Customs Boss

      In Rivers, Customs Hands Over N20.5bn Worth of Fake Drugs to…

      Nigerian Navy

      Navy Hands Over Seized 1,575kg of Indian Hemp to NDLEA in…

      Nigerian Police Force

      Notorious Bandit Kingpin, Abubakar Magaji Arrested in Sokoto, Gun, Ammunition Recovered

  • Event
    • Dr Dr. Omoniyi Ibietan of NCC

      APRA Secretary General Omoniyi Ibietan Named ‘PR Change Maker’

      Prof Saudat Abdulbaqi

      Prof Saudat Abdulbaqi Makes History as First Female Dean of UniIlorin’s…

      Late Oba Sikiru Adetona and Late President Muhammadu Buhari

      Oba Sikiru Adetona: The Day Ijebu Lost Its Lion By Tahir…

      President & Chairman of Governing Council, Dr. Ike Neliaku

      On World PR Day, NIPR Charts Bold Path to National Renewal

      Late President Muhammadu Buhari

      Northwest Governors Mourn Buhari, Declare Tuesday Public Holiday

    • PR Nigeria Award
  • E-Paper
Home Anti-Corruption Finally, VP Osinbajo Names 3 Looters of $3bn
  • Anti-Corruption

Finally, VP Osinbajo Names 3 Looters of $3bn

By
Laolu Akande
-
May 7, 2018
Yemi Osinbajo
Yemi Osinbajo
Finally, VP Osinbajo Names 3 Looters of $3bn
THE FACTS OUT ON GRAND CORRUPTION OF PAST PRESIDENCY ONLY A TIP OF THE ICEBERG
*(Statement attributable to the Vice Presidential Spokesperson)
WE have read reports attributed to  “a media office of  former President Goodluck Jonathan”. It is clear from the foul language of the authors that the statement could not have come from the former President, but from the motley group of loud and rude characters whose brief seems to be to deny all and anything said against the former PDP government and to do so in the crassest possible language.
The alleged spokespersons of the former President say that  facts long in the public domain, some even being used to prosecute several corruption cases are lies and that those of us in government restating these well known facts are liars.
They accuse Vice President Yemi Osinbajo, SAN, of lying against the former President or his government citing their  involvement  in the stealing of three billion dollars, while speaking recently at The Platform event on the 1st of May.
Just for clarity, I quote the Vice President  “Grand corruption remains the most enduring threat to our economy. Three Billion US dollars was stolen in what was called the strategic alliance contacts in 2013, three Nigerians were responsible, today three billion dollars is one trillion Naira and our budget is 7trillion! ….”  ..( link)
Two issues emerge. First, no mention is made of the former President.
Second, the story is not only true, it has been in the public domain for almost three years and it is the subject of criminal investigation and trials both here and in the UK.
The spokespersons also say that the allegations of corruption against the PDP government are mere lies. For clarity, the facts are laid out as follows:
As the Vice President said, $3B was stolen in the so- called  NNPC Strategic Alliance Contracts.  The three persons involved  are   Jide Omokore, Kola Aluko and the former Petroleum Resources Minister Diezani Alison- Maduekwe.  The companies of both Jide Omokore and Kola Aluko lifted Nigerian crude oil  and kept the proceeds.  The total sums converted is in excess of three billion dollars including royalties, taxes and fees unpaid for the asset from which the crude was taken.  The case is the subject of a trial in Nigeria, and criminal investigation in the US and UK, and the assets of all three individuals have been forfeited in Nigeria, the US and the UK.
2. The criminal diversion and theft of sums in excess of $2.5 billion meant for purchase of arms to prosecute the war against Boko Haram: The first phase of the investigations revealed several sordid details, many of the assets of culprits have been seized from them and they are facing trial.
3.The release of the sum of  $289m  in cash on February 25, 2015: Documents including cash vouchers indicate that the the sum of  $289,202,382 was taken  from the Joint Venture (JV) Cash Call Account No. 000-0000-11658-366 of the NNPC/NAPIMS with JP Morgan Chase Bank, New York, USA.
 4. N70 billion was released in parts from the national treasury between January 8 and February 25, 2015.
5.In another illegal disbursement,  25th August 2014,   N60B in cash in tranches of N40billion and N20billion:   The sum was not tied to any project or procurement and was then shared between two security agencies under the supervision of the then NSA. Most of these sums ended up in the hands of senior PDP members some of whom have returned parts of the loot. Some are standing trial for these offenses. These facts are in the public domain.
6. There was yet another set of illegal fund withdrawals under one week between January 8and 16, 2015, where the sum of N1.5 billion was released in three tranches of N300m, N400m and N800m respectively. This money was released from the MEA Research Library Account .
7. Another document showed that N10 billion was released to the Office of the National Security Adviser by the Central Bank of Nigeria (CBN) on September 15, 2014. The money was
released in tranches of foreign exchange of $47 million, $5 million, 4 million Euros and 1.6 million Euros. A letter from the Office of the NSA in November 2014 further showed that the monies were released as ‘funds for special services’. This particular  release of N10B was sourced in November 2014 from a N40 Billion CBN released funds meant for Corporate Social Responsibility, CSR. Investigators showed that  this money was released for the  PDP Presidential Primaries.
8. Lamido Sanusi,  then CBN Governor was sacked for speaking up about the over $20billion missing from oil proceeds.
These cases of grand corruption and open looting of public resources pauperized Nigeria and left us with little or no savings in the years when oil was selling at 100 to 114 dollars a barrel and we were producing 2.1 million barrels a day. When  in 2015 oil prices went even as low as between 28 and 35 dollars a barrel and oil production fell to less than one million barrels a day we had no buffer, no savings, to tide us through.
The amount released from CBN in cash on a single day, ie the US$289M ( N88.1Bn) is  enough to  fund 244,000 N-Power graduates for a year, or pay for  1.2Billion school meals or  complete half of Lagos -Ibadan or half of Abuja -Kaduna -Kano roads.
The Vice President also made the point  that in 2014 with oil prices as high as 120 dollars per barrel,  the total capital released for Power, Works, Housing, Defence, Transport, Agriculture and Defence were just N152Billion for the whole year.
By contrast, the Buhari administration committed N578Bn to the same Ministries in 2016 with oil prices as low as US$28 per barrel as part of the strategy to end the recession. The government was able to do more with less by stopping grand corruption and impunity.
Recently, the Minister Coordinating the economy in that administration has written a revealing book : Fighting Corruption is Dangerous: The Story Behind the Headlines. Who knows, perhaps her stories too are all lies!
Laolu Akande
Senior Special Assistant to the President on Media & Publicity
Office of the Vice President
VISIT OUR OTHER WEBSITES
PRNigeria.com EconomicConfidential.com PRNigeria.com/Hausa/
EmergencyDigest.com PoliticsDigest.ng TechDigest.ng
HealthDigest.ng SpokesPersonsdigest.com TeensDigest.ng
ArewaAgenda.com Hausa.ArewaAgenda.com YAShuaib.com
  • TAGS
  • Diezani Alison- Maduekwe
  • Goodluck Jonathan
  • Jide Omokore
  • Kola Aluko
  • osinbajo
Previous articleArmy Rescues 1000 Boko Haram Captives in Bama
Next articleGwaska Massacre: Death toll hits 71, Emir Appeals for Vigilance
Laolu Akande
Laolu Akande

RELATED ARTICLESMORE FROM AUTHOR

Engr Abba Babagana Dalori

Engr Dalori Forfeits Galaxy Hospital, Petrol Station, Properties & Cash

Chinese nationals jailed in Lagos

Court Jails Nine Chinese Nationals for Cybercrime in Lagos

ASUU

Tackle Corruption, Institutional Decay – ASUU Charges FG

EFCC Arraigns Bauchi Accountant General Over N8bn Fraud as Court Sentences Kano Make-Up Artist for Naira Abuse

PRNigeria logo fearured image

EFCC Arraigns Ex-Convict, Other for Naira Abuse in Lagos

EFCC Arrests 37 Suspected Internet Fraudsters in Ilorin

EFCC, CCC and the Battle Against Corruption in Nigeria, By Mukhtar Ya’u Madobi

Ola Olukoyede, EFCC Chairman

EFCC’s Anti-Corruption War: Between Media Trial and Intelligence-Driven Operations

Olayiwola Oguntade

Court Sentences Ex JAMB Staff for N10m Fraud in Ibadan

Diezani-Alison-Madueke

Nigeria, US sign MoU to repatriate $53m linked to former oil minister, Diezani

EFCC Sacks 27 Fraudulent Officers for Misconduct

Court Okays EFCC’s Request to Freez 67 Bank Accounts Over Alleged Fraud

LEAVE A REPLY Cancel reply

Log in to leave a comment

Recent Posts

  • IPRA Calls on UN to Curb Misinformation from AI and Social Media
  • Nnamdi Kanu’s Threat to Break Up Nigeria Was Deliberate, FG Insists
  • ‎FACT-CHECK: Was Obi Ever Pictured Having Coffee with Gen Sani Abacha at the Presidential Villa?
  • NUJ Urges Constitutional Backing for Journalists, Proposes Media Bailout Fund
  • Benue Police Nab Notorious Arms Traffickers, Recover Rocket Launcher, AK-47 Rifles, Ammunition
  • Home
  • About
  • Adverts
  • Contact
© 2020 PRNigeria. All Rights Reserved.
Latest News
IPRA Calls on UN to Curb Misinformation from AI and Social MediaNnamdi Kanu’s Threat to Break Up Nigeria Was Deliberate, FG Insists‎FACT-CHECK: Was Obi Ever Pictured Having Coffee with Gen Sani Abacha at the Presidential Villa?NUJ Urges Constitutional Backing for Journalists, Proposes Media Bailout FundBenue Police Nab Notorious Arms Traffickers, Recover Rocket Launcher, AK-47 Rifles, AmmunitionTinubu Appoints IBB's Son as Chairman, Bank of Agriculture, Names Heads of Key AgenciesIn Rivers, Customs Hands Over N20.5bn Worth of Fake Drugs to NAFDACCOUNTER-TERRORISM OPERATIONS: Troops Arrest Terrorists Collaborators, Eliminate Scores, Seize Weapons, Rescue Captives Across N'EastAdeniyi Inaugurates Lagos School Renovated by Nigeria Customs UK-Nigeria Pact to Drive Defence Innovation, Joint VenturesCustoms' Maiwada Named Among Nigeria’s 50 Most Influential PR VoicesCritique of Renaming University of Maiduguri after Muhammadu Buhari By Dr Umar ArdoFULL TEXT: President Tinubu Extols Muhammadu Buhari at Special FEC SessionAgain, FG Postpone Recruitment into Paramilitary AgenciesBuhari's Shocker: I look Forward to Leaving, and when it's time, I go to my Grave By Femi Adesina
X whatsapp