This is the way to steal money......
Discussion
From local newspaper. $8 billion in one year!
(DI) : Nigerians "just in one year," 2007, stashed over $8 billion (N1.16 trillion) in foreign banks, with the money idling away still when it could be productively channelled into the economy, Jude Amaefule, an economic and oil expert, lamented at the weekend. He reiterated in Abuja that the savings, also known as 'Diasporic Direct Inflow (DDI),' which leapfrog the financial systems of beneficiary countries, could be used to rescue Nigeria's power and oil sectors. Amaefule, the Chairman of Emerald Energy Resources (EER), an international oil company based in Lagos, noted that the Diaspora Investment Fund (DIF) is Nigeria's money abroad, an untapped source of funding for projects that could upgrade living standards. His disclosure gels with government's confirmation on April 4 of the probe of a secret bank account in Switzerland where $150 million from the $180 million Halliburton bribe belonging to Nigerian officials is lodged. Federal Attorney General and Justice Minister, Michael Aondoakaa, said American officials told him of the existence of the secret account during his visit to Washington. The United States authorities had prosecuted American collaborators in the scam involving Abuja officials in exchange for contracts.
(DI) : Nigerians "just in one year," 2007, stashed over $8 billion (N1.16 trillion) in foreign banks, with the money idling away still when it could be productively channelled into the economy, Jude Amaefule, an economic and oil expert, lamented at the weekend. He reiterated in Abuja that the savings, also known as 'Diasporic Direct Inflow (DDI),' which leapfrog the financial systems of beneficiary countries, could be used to rescue Nigeria's power and oil sectors. Amaefule, the Chairman of Emerald Energy Resources (EER), an international oil company based in Lagos, noted that the Diaspora Investment Fund (DIF) is Nigeria's money abroad, an untapped source of funding for projects that could upgrade living standards. His disclosure gels with government's confirmation on April 4 of the probe of a secret bank account in Switzerland where $150 million from the $180 million Halliburton bribe belonging to Nigerian officials is lodged. Federal Attorney General and Justice Minister, Michael Aondoakaa, said American officials told him of the existence of the secret account during his visit to Washington. The United States authorities had prosecuted American collaborators in the scam involving Abuja officials in exchange for contracts.
kers have been telling the truth all along. s
My late father in law was involved in business with them some years ago. A Nigerian General was posted to London to oversee deals to launder and stash the ill gotten gains. Their presumption was that naturally there would be a coup to remove them from power. Therefore it was proper for them to appropriate as much of the Nigeria’s wealth as possible for their future. The investments are to provide a continuing revenue stream. The ownership was constructed so as to avoid them being traceable assets, should a subsequent Nigerian government go looking for the money.
The deal involved the purchase of some of the most expensive apartment blocks in London. Some of you may know some nice Crescents on the north side of the Euston Road. Apparently they were constantly acquiring properties, but that’s the only one I know where.
The rent is of course legal income and eventually finds its way into accounts held offshore for the Generals. The General involved was laughing and joking that the money to purchase the investment properties was originally supplied as various government aid and loans from other countries, including the UK. They made it clear that there was no intention of ever repaying sovereign debt. The intention was always to obtain to debt cancellation.
Now that’s how to steal money.
Your tax money.
My tax money.
The deal involved the purchase of some of the most expensive apartment blocks in London. Some of you may know some nice Crescents on the north side of the Euston Road. Apparently they were constantly acquiring properties, but that’s the only one I know where.
The rent is of course legal income and eventually finds its way into accounts held offshore for the Generals. The General involved was laughing and joking that the money to purchase the investment properties was originally supplied as various government aid and loans from other countries, including the UK. They made it clear that there was no intention of ever repaying sovereign debt. The intention was always to obtain to debt cancellation.
Now that’s how to steal money.
Your tax money.
My tax money.
..and then we just keep giving them more......$500 million more. 'Hooked on aid', 'you can't feed the greed', etc....all common terms down here.
Reps Panels Okay $500m Credit Facility : (G) : President Umaru Musa Yar'Adua has received the approval of some committees of the House of Representatives to obtain a $500 million credit facility from the World Bank. Yar'Adua wrote to the House of Representatives before the chamber went on recess on July 28, 2009, explaining that the 2009 budget as passed by the National Assembly might not be feasible to implement to the letter because of a shortfall in the revenue component of the budget. The President also sought approval to obtain a credit facility of $500 million from the International Capital Market (ICM) so as to address some infrastructure challenges in the country. The House, under the leadership of the Speaker, Dimeji Bankole, mandated the Committees on Finance, Appropriation, Works, Aid, Loans and Debt Management, Capital Market and Justice to work on the letter and report back to the House. In the report recently submitted to the leadership of the House, the committees recommended that in view of the short and long-term benefits of the facility, it should be approved.
Reps Panels Okay $500m Credit Facility : (G) : President Umaru Musa Yar'Adua has received the approval of some committees of the House of Representatives to obtain a $500 million credit facility from the World Bank. Yar'Adua wrote to the House of Representatives before the chamber went on recess on July 28, 2009, explaining that the 2009 budget as passed by the National Assembly might not be feasible to implement to the letter because of a shortfall in the revenue component of the budget. The President also sought approval to obtain a credit facility of $500 million from the International Capital Market (ICM) so as to address some infrastructure challenges in the country. The House, under the leadership of the Speaker, Dimeji Bankole, mandated the Committees on Finance, Appropriation, Works, Aid, Loans and Debt Management, Capital Market and Justice to work on the letter and report back to the House. In the report recently submitted to the leadership of the House, the committees recommended that in view of the short and long-term benefits of the facility, it should be approved.
jshell said:
From local newspaper. $8 billion in one year!
(DI) : Nigerians "just in one year," 2007, stashed over $8 billion (N1.16 trillion) in foreign banks, with the money idling away still when it could be productively channelled into the economy, Jude Amaefule, an economic and oil expert, lamented at the weekend. He reiterated in Abuja that the savings, also known as 'Diasporic Direct Inflow (DDI),' which leapfrog the financial systems of beneficiary countries, could be used to rescue Nigeria's power and oil sectors. Amaefule, the Chairman of Emerald Energy Resources (EER), an international oil company based in Lagos, noted that the Diaspora Investment Fund (DIF) is Nigeria's money abroad, an untapped source of funding for projects that could upgrade living standards. His disclosure gels with government's confirmation on April 4 of the probe of a secret bank account in Switzerland where $150 million from the $180 million Halliburton bribe belonging to Nigerian officials is lodged. Federal Attorney General and Justice Minister, Michael Aondoakaa, said American officials told him of the existence of the secret account during his visit to Washington. The United States authorities had prosecuted American collaborators in the scam involving Abuja officials in exchange for contracts.
http://www.youtube.com/watch?v=372Ah0Z_L1w(DI) : Nigerians "just in one year," 2007, stashed over $8 billion (N1.16 trillion) in foreign banks, with the money idling away still when it could be productively channelled into the economy, Jude Amaefule, an economic and oil expert, lamented at the weekend. He reiterated in Abuja that the savings, also known as 'Diasporic Direct Inflow (DDI),' which leapfrog the financial systems of beneficiary countries, could be used to rescue Nigeria's power and oil sectors. Amaefule, the Chairman of Emerald Energy Resources (EER), an international oil company based in Lagos, noted that the Diaspora Investment Fund (DIF) is Nigeria's money abroad, an untapped source of funding for projects that could upgrade living standards. His disclosure gels with government's confirmation on April 4 of the probe of a secret bank account in Switzerland where $150 million from the $180 million Halliburton bribe belonging to Nigerian officials is lodged. Federal Attorney General and Justice Minister, Michael Aondoakaa, said American officials told him of the existence of the secret account during his visit to Washington. The United States authorities had prosecuted American collaborators in the scam involving Abuja officials in exchange for contracts.
brilliant.
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