2:08 am - Wednesday October 18, 2017

When Thieves Make Laws For A Nation; Nigerian Governors & Saraki

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Paris club loan disbursement looted by Saraki & state governors.

Paris club loan refund looted by Saraki & state governors. So i stumbled across this piece that has revealed the 36 state governors and the senate president Bukola Saraki looting Nigeria of Billions in broad day light by Saharah Reporters and since then, my head has been racing with God knows how many questions.

The most loud of all the questions is; With this type of leadership, do we even stand a chance at deliverance from backwardness, poverty, underdevelopment and God knows what else as a nation should no drastic actions be taken to uproot these notorious criminals once and for all?

According to documented report with evidence from Saharah Reporters, all the 36 Nigerian state governors and particularly your current senate president, Bukola Abubakar Saraki have openly defrauded Nigeria off the Paris club loan refund and other international loans.

But what is more disturbing is the fact that it would seem they have gotten away with it or are on their way to considering there is no fire on the mountain with respect to their fraudulent act.

Base on report from Sahara reporters, Nigeria’s 36 states governors and the senate president Bukola Saraki recently pocketed large slices of the funds approved by the federal government to reimburse states for the excessive deductions charged to them on account of the Paris Club loan and other international loans.

According to the report, the governor’s forum received a huge disbursement from the federal government on account of the above stated loans in which case, as much as $400 million was diverted to some governor’s individual accounts and a whooping $2.5 billion all to senate president Bukola Saraki’s account.

They were able to successfully do this because the governor’s forum used fake consultants (GSCL Limited and Biztrust Limited) to conduct all of these transactions and or transfers and they illegally deducted 5% of the funds paid to the states .

The central bank then paid the consultants without informing the accountant general of the federation and after getting their share, the consultants forwarded a part of their payments to the individual accounts of the governors with some governors getting as high as $400 million.

One of the proof we have is that former officials of the  federal ministry of finance registered and floated 2 of these fake companies that masqueraded as consultants (GSCL Limited and Biztrust Limited).

In the course of investigation, one of the sources on the team disclosed that senate president Bukola Saraki was paid $2.5 billion through a finance consultancy run by one Mr Okey Mbonu, a former managing director of Society Generale Bank.

Incidentally, Society General Bnak happens to be a family bank the Sarakis robbed into bankruptcy. The bank later metamorphosed and returned as Heritage Bank.

Documents exclusively obtained by SaharaReporters’ investigative team showed that the Nigerian Governors’ Forum received a total of N11,550billion from the sum of N231billion that the Federal Government directed to be paid to states last December.

Last week, agents of the Economic and Financial Crimes Commission (EFCC) investigating the illegal payments and subsequent transfer to governors’ personal accounts arrested Ashishana Okauru, Director-General of the Nigerian Governors’ Forum.

An EFCC source informed Sahara Reporters that, during interrogation, Mr. Okauru admitted that money was funneled through the Nigerian Governors’ Forum to individual governors. He, however, refused to write a statement.

A break down of the claims by different states is indicated as thus;

Abia State submitted a claim of $95,437,810.59, Adamawa filed a claim of $92,255,322.54, while Akwa Ibom sought a refund of $255,713, 552.80. Anambra State asked for a refund of $92,374,232.23, Bauchi, $104,092,295.20, Bayelsa, $299,432,862.33, and Benue, $99,542,766.38. After the scrutiny of claims by the DMO, President Muhammadu Buhari approved payment of the sums of $23,859,452.65 (N7.2 billion) to Abia State, $23,063,830.64 (N7.034 billion) to Adamawa State, $63.928,388.20 (N19.4 billion) to Akwa Ibom, $23,093,558.06 (N7.043 billion) to Anambra State and $26,023,073.80 (N7.9 billion) to Bauchi State.

Mr. president also approved $24,885,691.60 (N7.6 billion) for Benue State and $74,858,215.58 (N22.8 billion) for Bayelsa.

This misappropriated funds was noticed when an accounting reconciliation indicating that the 36 states were overcharged for payments to the Paris Club was initiated. Late last year, all the state governments asked the Federal Government to repay what they were overcharged as external debt service payments between 1995 and 2002. The said funds were paid as first line charge deductions from states’ share of federal allocations.

In a statement, the Federal Ministry of Finance disclosed that President Buhari had urged the states to invest a minimum of 50 percent of the money disbursed to them in people’s welfare, especially for the payment of salaries and pensions.

My questions again are;

  1. With such huge numbers diverted to personal accounts, how much of the intended aim has been attained?
  2. What is the story with pensioners in Nigeria and how many states have cleared just as little as one third (1/3) of their salary arrears?
  3. How is it that some loots are given priority fight with speedy recovery while others are treated with levity like they don’t count as serious?
  4. How is it that these people are allowed to make laws for us knowing well who they are and the harm they have caused and are till determined to cause as it is evident in their conduct?
  5. Do we truly expect and trust them to make laws in our favor?
  6. when they say they are making laws in our favor and for our good governance, do they mean to mock us knowing we know that is not the truth or they say that because they knowsome of us still buy into he lies they feed us?
  7. At what point do we truly intend to revolt against these hypocrites? Or are we just the “flow with then crowd people”?

At some point, we are all going to have to tell ourselves the hard truth that we will never go anywhere with these crop of leaders and decide for ourselves the way forward and most importantly act on our decisions.






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