Tuesday 31 January 2017
Thief who stole babies in Lagos caught & beaten mercilessly
Okada man pictured making a phone call as he rides with for 4 school children (Photo)
As seen at Eleyeile express Road Ibadan.
Read 2face Idibia's speech on the planned nationwide protest
Read after the cut...
"Hello my fellow Nigerians...
Since the idea of a nationwide march was first mentioned, the need for urgent solutions to the challenges facing Nigerians has become very clear. The people have hoped for a better Nigeria since 1999 but things are not getting any better for the majority. We are still where we are – poor and desperate. I will be no longer be quiet.
I want to thank EiE, The 2face Foundation, numerous colleagues and countless fellow Nigerians for stepping up to partner with me. I am just a musician with a point of view and the ear of my fans.
I have dedicated my time and resources to peace building, voter education towards peaceful elections and youth engagement in governance in Nigeria. This time around, my partners, colleagues and I have come together to present a platform for real Nigerians to communicate their real pains to government at all levels in a peaceful and articulate manner with a view to getting lasting solutions to our problems.
This march is about demanding that all saboteurs of good government policies should hands off.
This march is about encouraging positive minded Nigerians to continue to work without intimidation.
We have a system that is clearly designed not to work for the majority.
What is this march not about?
It is not a platform for politicians of any party to manipulate. I know you will still spin it but for one second leave your battles aside and just listen to people without trying to score cheap political points against one another. It is not a point scoring exercise. It is certainly not personal.
It is not an organized labour platform. With all due respect to our comrades who have done much for Nigeria, this march is for the unrepresented.
It is not a ‘my religion or tribe is better than yours’ matter. All our blood is red.
I, Innocent Idibia, am a living example of a Nigerian who owes their success to Nigerians of every tribe and religion. None ask what religion or tribe I am before supporting me. I am grateful.
Therefore, it is with every sense of humility that I say that with this march, I want:
1) Security
All Nigerians’ lives MUST matter. My religion, ethnicity or what part of the country I live shouldn’t determine the type of protection I get from my government.
According to the Constitution, ‘the security and welfare of the people shall be the primary purpose of government.’
2) Education
To develop beyond oil, we have to invest in our human capital. Every child must have access to quality education. If our teachers are not paid, how will we raise the next generation to lead the country and run our businesses?
3) Health
Health is wealth. People die daily from lack of basic, affordable health care. We can definitely do better.
4) Power
Government needs to make it easier to generate power at the state and local government level so everything is not tied to the center. We need electricity to be productive. The cost of generating our own power is crippling.
5) Unemployment
Poor education plus a struggling economy means a lot of people are unemployed. Unemployed people are hungry and angry.
6) High cost of living
Food, transportation, medicine, everything is 3 times, 4 times more expensive but our salaries haven’t increased. What do we do???
7) Social Justice
According to the Constitution, ‘The Federal Republic of Nigeria shall be a State based on the principles of democracy and social justice.’
There cannot be one set of rules for the poor and another set for the rich.
8) Transparency
The best way to kill corruption is to increase transparency. Government finances and contracts must be open and available to all. Who got the money, to do what and by when?
9) Cost of government
Our governance is TOO expensive – federal, state, local – cars, housing, allowances. We must reduce the cost of maintaining our public officials
10) Patriotism
I stand with Nigeria. There is enough in Nigeria for all of us to ‘chop belleful’. Enough is enough. We must put Nigeria first and keep all the greedy & selfish people away from leadership.
Call to Action
Between now and Monday, February 6, I ask you to share via videos, Facebook, Twitter, blogs, SMS to 0902-355-5335. How are these issues affecting you? What are your daily struggles? How is it doing you? No matter what part of the world you are, I encourage you to share your stories. And join me on Monday in Surulere or online
Use any of the hashtags #IStandWith2Baba #IStandWithNigeria #OneVoiceNigeria on social media.
We will take all the reports and send them to our elected representatives as ONE VOICE of Nigerians across party, ethnic and religious lines – as they hear real people talk about real issues.
On Monday, February 6, meet me at the National Stadium at 8AM and we’ll walk to the National Theatre – 2 national icons that epitomize our decline – as we state clearly and peacefully that #IStandWithNigeria and Nigeria must work for all of us and all of us must work for Nigeria.
Thank you! God bless Nigeria!!!"
New date for Tuface Idibia's led protest
The date which was previously on the 5th of February has has now been moved to February 6th, 2017.
The reason for the change of date is because president Buhari who is currently on a 10 day medical vacation in the UK is expected back to the country on Monday February 6th.
Presidency reacts to Tuface Idibia's planned nationwide protest
The presidency has reacted to the February 5th planned Nationwide protest which singer, 2face Idibia and several Nigerians have come out to support.
Speaking in an interview with Lagos Talk 91.3fm, Senior Special Assistant to President Buhari on Media and Publicity, Femi Adesina, said those who are calling for the protest are people who supported the last government and are still pained that they lost the last election.
"This is a country of about 180 million people. It is impossible for 180 million people to think the same way. Yoruba has a saying that is you all sleep and put your head in the same direction, then you are all foolish because you would be breathing in one another's mouth and lungs. Dont forget the last election and how it went. Somebody scored 12.5 million votes, another scored about 15 million votes. There are some people who are still in that election mode. They have not gotten out of it and till today, they are still living and "rheumatisizing" about the past. What they don't know is that that past is gone and gone forever. Majority of those calling for the protest are still in election mode. Majority of them are people that have resolved not to see anything good in this administration simply because the man they wanted lost at the polls" he said.Watch video below...
Watch Sahara Reporters publisher walk out of a radio interview they wanted to censor
Sahara Reporters publisher, Omoyele Sowore walked out of an interview with Bond FM, after the General Manager, Bamidele Dada entered the studio attempting to censor the live interview.
In the video shared by Sahara Reporters on Twitter, the embattled publisher before leaving the studio said: 'If you don't want me to express myself I will leave, it's as simple as that. I cannot participate in a show where the government says I can't speak my mind." Watch video below....
Nigerian Man Wants To Marry His Father's Ex-Girlfriend
Female Undergraduate Dies Mysteriously... family suspecting a rich man
Investigation by Leadership revealed that on December 18, 2016, the deceased in company of her friend, Elizabeth had gone to one Alhaji Usman I. Adamu, who is believed to be a philanthropist, because he assists indigent students, with scholarship to complete their studies.
According to the mother of the deceased, Mrs. Philomina Odama, “when it was my daughter’s turn to see Alhaji Adamu, she told him that she had come to seek for an assistance to continue with her education. But the ‘philanthropist’ told her to come along with her mother to the house.
"My daughter told me this and I decided to go there with her, since the quarters where the Alhaji lives were in the same neighborhood where we reside. I equally met other people in the house seeking for the same assistance from this Alhaji Adamu.
According to her, when the late Joy had introduced her mother, “the Alhaji promised that he would support her daughter in school and also promised the mother a job at the Nigerian Security and Civil Defence Corps (NSCDC).
“Two days later, on the evening of 20th of December, the Alhaji called my daughter, and told her that his house help is seriously sick and that she should please come and help him look after her while he goes to look for a doctor.
“He also said that he has called other girls (that is some of the girls we saw in the house the previous day). My daughter informed me about this and I allowed her to go. That was the last time I saw my daughter alive.”
Mrs. Odama further narrated that she called the daughter later and she told her that she was in the company of other girls in Alhaji’s house and that she would soon be back. According to her, “About an hour later, she was not yet back, I called her but she did not pick the call. I called her several times and there was no response.
"Then I called Alhaji’s number, but he too did not pick. I became worried. I continued calling her number and that of the Alhaji every now and then and the Alhaji eventually picked his call. However, to my surprise, he pretended not to know who l was or who my daughter was.
She continued, “When I pressed further, he replied, ‘Did anything happen to Joy?’, as if he did not know where Joy was. And I knew all was not well.
"We were about going to Karmo Police Station [Abuja], to report the matter when 2 police officers came to my house and told us (myself and my husband) to follow them to the station. On getting to the station (Karmo Police station), the DPO informed us that all the girls that went to Alhaji’s house were all unconscious; that one is not responding to treatment, while others are responding to treatment.
"The next day, which was December 22, 2016, I and some of my relatives and a lawyer, including a close family friend who works with an NGO went to the police station again. That was when they informed me that my daughter was dead and has been taken to the mortuary,” she explained.
Our lawyer asked the DPO if the Alhaji has been arrested. But the DPO said bluntly, ‘As far as he is concerned, no crime has been committed and that my daughter died a natural death and that he cannot arrest the Alhaji.”
In a petition on the matter, an Abuja based non-governmental organisation (NGO), Basic Rights Enlightenment Foundation and the family have cried out to the office of the senate president, the House of Representatives, the Human Rights Commission, Inspector General of Police as well as the Department of State Services to hasten action in unraveling circumstances leading to the death of Miss Joy Odama with a view to bringing the culprits to justice.
According to a petition addressed to the Nigerian Union of Journalists (NUJ), the biggest worry of the family of the late Joy and the NGO is that the prime suspect in the murder of Miss Odama, is still working free without attempt by the police to bring him to book.
Another source of worry to the petitioners is that the remains of the late Joy had already been embalmed before she was put in the morgue.
According to the mother of the deceased, Mrs. Philomina Odama, “when it was my daughter’s turn to see Alhaji Adamu, she told him that she had come to seek for an assistance to continue with her education. But the ‘philanthropist’ told her to come along with her mother to the house.
"My daughter told me this and I decided to go there with her, since the quarters where the Alhaji lives were in the same neighborhood where we reside. I equally met other people in the house seeking for the same assistance from this Alhaji Adamu.
According to her, when the late Joy had introduced her mother, “the Alhaji promised that he would support her daughter in school and also promised the mother a job at the Nigerian Security and Civil Defence Corps (NSCDC).
“Two days later, on the evening of 20th of December, the Alhaji called my daughter, and told her that his house help is seriously sick and that she should please come and help him look after her while he goes to look for a doctor.
“He also said that he has called other girls (that is some of the girls we saw in the house the previous day). My daughter informed me about this and I allowed her to go. That was the last time I saw my daughter alive.”
Mrs. Odama further narrated that she called the daughter later and she told her that she was in the company of other girls in Alhaji’s house and that she would soon be back. According to her, “About an hour later, she was not yet back, I called her but she did not pick the call. I called her several times and there was no response.
"Then I called Alhaji’s number, but he too did not pick. I became worried. I continued calling her number and that of the Alhaji every now and then and the Alhaji eventually picked his call. However, to my surprise, he pretended not to know who l was or who my daughter was.
She continued, “When I pressed further, he replied, ‘Did anything happen to Joy?’, as if he did not know where Joy was. And I knew all was not well.
"We were about going to Karmo Police Station [Abuja], to report the matter when 2 police officers came to my house and told us (myself and my husband) to follow them to the station. On getting to the station (Karmo Police station), the DPO informed us that all the girls that went to Alhaji’s house were all unconscious; that one is not responding to treatment, while others are responding to treatment.
"The next day, which was December 22, 2016, I and some of my relatives and a lawyer, including a close family friend who works with an NGO went to the police station again. That was when they informed me that my daughter was dead and has been taken to the mortuary,” she explained.
Our lawyer asked the DPO if the Alhaji has been arrested. But the DPO said bluntly, ‘As far as he is concerned, no crime has been committed and that my daughter died a natural death and that he cannot arrest the Alhaji.”
In a petition on the matter, an Abuja based non-governmental organisation (NGO), Basic Rights Enlightenment Foundation and the family have cried out to the office of the senate president, the House of Representatives, the Human Rights Commission, Inspector General of Police as well as the Department of State Services to hasten action in unraveling circumstances leading to the death of Miss Joy Odama with a view to bringing the culprits to justice.
According to a petition addressed to the Nigerian Union of Journalists (NUJ), the biggest worry of the family of the late Joy and the NGO is that the prime suspect in the murder of Miss Odama, is still working free without attempt by the police to bring him to book.
Another source of worry to the petitioners is that the remains of the late Joy had already been embalmed before she was put in the morgue.
“The DPO directed us to the Federal Medical Centre Airport Road Abuja and on getting to the mortuary at the hospital; we discovered that my daughter’s body has been embalmed,” Mrs. Odama said.
According to her, she has laboured seriously to see Joy and her younger sister through school before she was murdered in what looked like a ritual killing. Joy's family are crying for justice.
According to her, she has laboured seriously to see Joy and her younger sister through school before she was murdered in what looked like a ritual killing. Joy's family are crying for justice.
Wife Drags Jobless Husband To Court: He Lied To Me That He Has Millions
A civil servant, Faith Ogu on Tuesday, dragged her unemployed husband, Joseph Ogu to a Jikwoyi Customary Court in Abuja, seeking for divorce on the grounds that he deceived her about his financial and 'employment' status.
Faith told the court that her jobless husband had deceived her into believing he had a source of livelihood before their marriage, adding that she only got to knew about his status as a ‘job-less’ person after they had tied the knot.
“He never told me that he had no job, instead he kept telling me that he works with Zenith Bank and that he has a business in Lagos, that yields him millions.
“It was after I got married to him that I discovered the whole truth about him,” Faith said.
She told the court that Joseph had also told her that he had built a house somewhere in Lugbe, but that after investigating, she realised that it was false.
Faith said all her efforts to encourage him find a job did not elicit any positive response, as such she wanted the marriage dissolved.
“He is lazy and does not want to do anything for a living; I have been lending him money, hoping that he would pay back. I sponsored our wedding, I even lent him money to pay my bride price,” she said.
The petitioner said that she had reported the matter to his elder sister to see if she could advise him but to no avail.
“I beg this court to dissolve my marriage so that I can be free; I am tired of feeding, clothing and paying medical bills for my husband ,” she pleaded.
NAN reports that the Presiding Judge, Everyman Eleanya, however reiterated that the respondent had not been in court since the beginning of the case and therefore ordered that a Hearing Notice be pasted in his sister’s house.
He adjourned the case to February 9, for continuation of hearing.
We Will Protest, Tuface Insists (Live Video)
Monday 30 January 2017
Woman advertises cheating husband on national newspaper (photo)
A woman who was desperate to save her marriage and stop her husband from falling into the arms of younger women employed an unfamiliar way to achieve this.
The woman who was only identified as Wanjiru Kamami or Shiro, published an advertisement on a Kenyan newspaper complete with her husband's image, his phone number and his National Identification number. The translated ad above reads:
"This is to inform the general public that the person whose photograph appears above is the husband to Wanjiru Kamami (Shiro) since 1982, (sic) therefore if you see him getting lied to with school girls or young women at the market, tell him to go home or call my number 0751993571."Many Kenyans expressed shock on the woman's desperate move while others found the whole situation hilarious.
Your thoughts?
'I kidnapped my Oga’s son because he refused to settle me' - Suspect
A 20-year-old suspect, Blessing Emmanuel, said on Monday in Lagos that he kidnapped his boss’ son for not settling him after apprenticeship.
Chinobi Sabestine and Emmanuel were arrested by the police for allegedly abducting a 10-year-old boy.
It was reported that the suspects were apprehended in a bank in the Oyingbo area of the state as they were about withdrawing the ransom paid by the boy’s family into an account.
Emmanuel, who claimed to be a trader at the Mandilas Market, Lagos Island, claimed that he
abducted the 10-year-old in the Alafia area of Orile-Iganmu, on his way to school, as a way of paying his master back for refusing to settle him after working for him for four years.
“I started staying with my Oga in 2013. He took me from my parents to stay with him so that I could learn how to sell clothes. In the agreement he had with my parents before he took me, he promised to set me up after four years.
“In 2016, he was supposed to help me start my own business; but instead, he opened another shop and asked me to be paying him N20,000 monthly.
“I could not cope because of the recession in the country, so I asked him to pay me as agreed, but he refused. Rather, he sent me back to the village.
“I came back early January and I stayed in a hotel. It was there that the idea of kidnapping his son came to me. Last week Monday, around 7am, I laid in ambush along the route where his son normally passed to school in the Alafia area of Orile.
“The boy emerged around 7.45am. He came to me when I called him and I took him away,” the suspect said.The suspect further explained that he kept the young boy in his hotel room for four days, until he was arrested on Apapa Road.
“Throughout the four days, the boy stayed with me in my hotel room at Oyingbo. I called my Oga on the telephone the next day to pay N5m into my account if he hoped to see his son again. I sent him my account number.
“I was on my way to collect my ATM card from the bank on Apapa Road when I was arrested. I never knew that the police were on my trail,” he added.The Commissioner of Police, Lagos State, while briefing newsmen on the arrest, said the suspect, along with one other, kidnapped the 10-year-old boy.
He said after kidnapping their victim, the suspects demanded N5m as ransom to release the boy.
FG Vows Action Against Destroyers Of 190-Year-Old Brazilian Building In Lagos
Muhammed made the vow in a statement issued monday after inspecting the cite of the 190-year-old structure in Lagos at the weekend.
The Brazilian themed edifice was gazetted as a national monument in 1956.
Government has already instituted legal actions against the developers over the property.
Muhammad vowed that government would not tolerate the destruction of national monuments anywhere in the country for whatever reason.
‘’Because they wanted to develop this place, they have broken so many laws. Fortunately, this is a country of laws and we are ready to meet them in court and one thing I can assure you is that nobody can benefit from his own crime.
‘’I want to assure you that we will challenge them in court and we are going to get our reliefs and we will restore this building to its formal glory. We have the picture, we will rebuild it,’’ he said.
He lamented that the monument was symbolic as it chronicled the historical, cultural and social relationship between Nigeria and Brazil.
‘’It is like a living monument of our (slave trade) past. It was a monument that exhibited the Brazilian architecture at that time, which is rare to come by anywhere in the world. It is a remembrance of what our ancestors went through in slavery and how they triumphed, came back and showed that they were well-to-do. The important thing is that a people without history will perish very fast. This building was worth billions of dollars because it symbolised our past.
‘’No amount of skyscrapers can replace this history and all important monument that has been demolished, and I want to assure you that nobody can profit from his crime. You cannot go to court now and say that because the structure has been destroyed, the land should go back to the owner.
‘’This is why I have come here with the (Lagos State) Commissioner of Police, who has been quite helpful. I want to assure Nigerians that we are going to pursue whoever has destroyed this place. It may take time, but the hand of the law is long and the wheel of justice grinds
slowly but surely,’’ he said.
ThisDay
US Attorney General Tells Justice Department Not To Defend President Trump's Immigration Order
Sally Yates, who was appointed by Mr Trump's predecessor, Barack Obama, said she was not "convinced that the executive order is lawful".
"The Department of Justice will not present arguments in defence of the executive order," she said.
Ms Yates is due to be replaced by Mr Trump's nominee, Jeff Sessions.
In a letter to employees published by US media, she noted that the order had been challenged in court in a number of jurisdictions.
"My responsibility is to ensure that the position of the Department of Justice is not only legally defensible, but is informed by our best view of what the law is," she wrote.
"I am responsible for ensuring that the positions we take in court remain consistent with this institution's solemn obligation to always seek justice and stand for what is right."
shut by security operatives
Ondo State House Of Assembly Crisis Deepens, Assembly Shut
This followed a tussle between two factions of the lawmakers over the leadership of the House.
The crisis started after the suspension of the Speaker, Deputy Speaker and the Majority Leader on Friday.
At the resumption of plenary on Monday, the new leadership insisted that the former leadership led by Mrs Jumoke Akindele remained suspended over the 15 million naira found on the House paymaster in the assembly complex.
Mrs Akindele has insisted she has nothing to do with.
She said that the aggrieved members could not have removed her from office as the allegation of fraud levelled against her had not been proven to be true.
She denied the allegation of fraud by her leadership, saying it was all politics as the cash was not found on her or any member of the House but on the paymasters who is the custodian of monies belonging to the Assembly.
During interrogation, the Paymaster was said to have told the lawmakers that he was acting on the directive of the leadership of the House.
Members of the House who were aggrieved by this insisted it was unlawful and corrupt for the leadership of the House to withdraw such cash without the knowledge of the members.
To this end, the aggrieved members suspended the Speaker, Jumoke akindele and two other principal officers; the Deputy Speaker, Fatai Olotu as well as the Majority Leader, Ifedayo Akinsoyinu.
Fani-Kayode shares degrading edited photo of Pres. Buhari
EXPOSED: Damning 'Evidence' Of Huge Corruption In CBN
The Central Bank of Nigeria (CBN) has been implementing a questionable, and possibly corrupt, policy in its allocation and sale of foreign currency to Nigerians, Leadersng reports.
Documents reveal the arbitrary fixing of different exchange rates for transactions.
One of the documents made available to Leadersng, the “BANK UTILIZATION REPORT ON 60:40 RULE FOR OCTOBER 2016”, shows stark contrasts in the exchange rates applied in the allocation of forex to different companies and individuals.
One of the documents made available to Leadersng, the “BANK UTILIZATION REPORT ON 60:40 RULE FOR OCTOBER 2016”, shows stark contrasts in the exchange rates applied in the allocation of forex to different companies and individuals.
The document shows no applicable pattern or matrix used in calculating exchange rates or selecting the companies or individuals who got low or high rates.
Details of this report show that during the month of October 2016 some companies were allocated forex at exchange rates as low as N0.61 to $1 in one particular transaction while others received forex at exchange rates as high as N470 to $1. The report also reveals the allocation of forex to individuals and companies for reasons varying from importation of a variety of products to family maintenance allowances, mortgage payments, medical travel and school fees/other bills associated with educational expenditure.
Our source is adamant that many powerful forces within the CBN and Nigerian political circles are taking advantage of CBN’s policies to make huge profits by purchasing forex from CBN at low prices then selling in the black market. CBN’s policies have currently led to a disparity between the official exchange rate and the parallel market rates of almost N200 per $1 .
In October 2016, CGC Nigeria Limited whose address is listed as Kubwa Road, Abuja received an allocation of $81,392.59 at an exchange rate of N47.50/$1 to import floor drains. In a stark contrast, in one of its several transactions, Lafarge Africa Plc of paid an exchange rate of N428/$1 to get $987,214.18.
On its part, two particular transactions of the Nigerian Breweries Plc stood out. In these two transactions conducted through Rand Bank of South Africa, NB Plc was able to purchase $3193 and $1272 for the purchase of “Raw Materials Hi Cone” at N1.20/$1.
The document also revealed that MACADAMS Baking Systems Limited purchased $57,365.02 for the purchase of baking ingredients at N23/$1. Our investigation into the management structure of the Company revealed that the Chairman of the Board of Directors of MACADAMS Baking Systems Limited is Chief Adegboyega Awomolo (SAN). Chief Awomolo is also currently counsel to Independent National Electoral Commission, INEC.
The disparity in exchange rate also applied to individuals. For instance, Adebolanle Badejo purchased $4,372.05 at N23.34/$1 to service credit card payments. Farida Hassan Gimba received purchased $14,621 at an exchange rate of $48/$1 for educational expenses starkly contrasting with the rate of N370/$1 Fatai Odesile paid for the same purpose.
Details of this report show that during the month of October 2016 some companies were allocated forex at exchange rates as low as N0.61 to $1 in one particular transaction while others received forex at exchange rates as high as N470 to $1. The report also reveals the allocation of forex to individuals and companies for reasons varying from importation of a variety of products to family maintenance allowances, mortgage payments, medical travel and school fees/other bills associated with educational expenditure.
Our source is adamant that many powerful forces within the CBN and Nigerian political circles are taking advantage of CBN’s policies to make huge profits by purchasing forex from CBN at low prices then selling in the black market. CBN’s policies have currently led to a disparity between the official exchange rate and the parallel market rates of almost N200 per $1 .
In October 2016, CGC Nigeria Limited whose address is listed as Kubwa Road, Abuja received an allocation of $81,392.59 at an exchange rate of N47.50/$1 to import floor drains. In a stark contrast, in one of its several transactions, Lafarge Africa Plc of paid an exchange rate of N428/$1 to get $987,214.18.
On its part, two particular transactions of the Nigerian Breweries Plc stood out. In these two transactions conducted through Rand Bank of South Africa, NB Plc was able to purchase $3193 and $1272 for the purchase of “Raw Materials Hi Cone” at N1.20/$1.
The document also revealed that MACADAMS Baking Systems Limited purchased $57,365.02 for the purchase of baking ingredients at N23/$1. Our investigation into the management structure of the Company revealed that the Chairman of the Board of Directors of MACADAMS Baking Systems Limited is Chief Adegboyega Awomolo (SAN). Chief Awomolo is also currently counsel to Independent National Electoral Commission, INEC.
The disparity in exchange rate also applied to individuals. For instance, Adebolanle Badejo purchased $4,372.05 at N23.34/$1 to service credit card payments. Farida Hassan Gimba received purchased $14,621 at an exchange rate of $48/$1 for educational expenses starkly contrasting with the rate of N370/$1 Fatai Odesile paid for the same purpose.
Abas Alhassan was able to purchase $805.73 at N85.24/$1 to make mortgage payments. In stark contrast, Akintunde Rowland Babatunde purchased $1,972.60 at an exchange rate of N404.84 for the same purposes. In another example, while Jigba Zahradeen Saleh and Nnogo Jane were able to purhcase $ 4,278.65 at N87.52 and $365.68 at N23.04/$1 respectively to pay for educational expenses, Isioma Asiodu Otughwor had to purchase $4,794.41 at N405.22 for the same purpose.
In similar transactions Kennedy Onyeali, Managing Director of All Seasons Mediacom purchased $9,752 at N30/$1 for the importation of an item simply referred to as HF101, while Alhaji Babagana Mohammed Sheriff, who we believe is a nephew to factional chairman of the Peoples’ Democratic Party (PDP) – Senator Ali Modu Sheriff and an in-law of President Muhammadu Buhari, was permitted to purchase $ $35,338.69 at the rate of N101.5/$1 for the importation of an item listed as “invisible”.
Foreigners were also able to benefit from the purchase of forex at low exchange rates. A person simply named as Paula was able to purchase $834.15 at N23.35/$1, while Paula Coetzee was able to purchase $1,563.06 at N23.11/$1. Both transactions were conducted through Stanbic IBTC Bank Plc and were for family maintenance allowances for expatriates.
Similarly William Le Roux and Debra Ann Le Roux were permitted to purchase $13,093.29 and $9,378.37 at N22.63 and N23.11 respectively. Both transactions were conducted through Stanbic IBTC Bank Plc and were for family maintenance allowances for expatriates.
In stark contrast to all this, World Wide Commercial Venture Limited was permitted to purchase $1, 462,480.83 at the rate of N425/$1 to purchase life saving drugs and pharmaceutical products. Its 24 transactions in October 2016 were conducted through Zenith Bank.
The lack of a pattern or formula used to calculate the exchange rate used for allocations lends credence to allegations of racketeering and dubious allocations of Forex to close family and friends on the part of CBN officials.
CBN has recently come under flak from many quarters for its foreign exchange policies. Last August, former CBN governor and the Emir of Kano, HRM Sanusi Lamido Sanusi, condemned sharp practices in the allocation and forex which he said was capable of distorting the market and damaging the economy. He was particularly critical of CBN’s policies which he said were creating emergency billionaires.
On January 13th, 2016 a civil society group carried out a procession to the CBN headquarters in Abuja to protest the negative effects of its foreign exchange policies, the rising price of essential goods and services owing to exchange rates and alleged corruption in the implementation of the apex bank’s policies.
One of the organisers of the protest, Mr. Deji Adeyanju, alleged currency speculation amongst the top echelon of the apex bank. Mr. Adeyanju alleged that many senior officials use various fronts to apply for and obtain forex which they then sell on the black market at higher rates.
A few days ago, while speaking to journalists at the 2017 World Economic Forum in Davos, Switzerland Vice President Yemi Osinbajo alluded to the negative consequences of the disparity between the official exchange rate and the parallel market rate.
Subscribe to:
Posts (Atom)