EXCLUSIVE: Why we can’t recover funds looted by Ex-Minister Alison-Madueke, others — Presidency

Buhari in France

Lack of funds is stalling Nigeria’s effort to trace and recover its stolen monies, and prosecute former government officials responsible for the heist, the presidency has said.

A letter by the Presidential Advisory Committee on Corruption (PACC) to a United Kingdom-based anti-corruption organisation, Global Witness, soliciting assistance in raising funds, revealed that due to the fall in crude oil prices and the general economic downturn, the government lacked the needed funds to pursue recovery of loots.

The letter, dated February 15, 2016, was signed by the Executive Secretary of PACC, Bolaji Owasanoye, and directed to the Director of Global Witness, Simon Taylor.

It stated that the commitment of the government to tackle Boko Haram insurgency, fight corruption and improve the livelihood of Nigerians through job creation, was being hampered by dwindling oil revenue and mounting debts.

Mr. Owasanoye, a professor, argued that the economy could not be revived simply by improving revenue generation, without wiping out corruption and recovering money stolen former officials.

He said ongoing investigations into the diversion of arms funds by the former National Security Adviser (NSA), Sambo Dasuki, and ex-military chiefs, show that significant amount of the money needed by the government to alleviate poverty were still in “the pockets and bank accounts of looters of public funds”.

He said intelligence reports and court rulings elsewhere have shown that there were more funds to be recovered from the immediate past Petroleum Minister, Diezani Alison-Madueke, the fraudulent sale of OPL 245 by Malabu Oil and Gas, a company owned by “a well-known money launderer”, Dan Etete, assets traced to former Delta State Governor, James Ibori, and former military ruler, Sani Abacha.

He however explained that due to the multi-jurisdiction of the cases, and the exorbitant charges of professionals such as lawyers, forensic financial investigators, and the ability of the suspected officials to use part of the alleged stolen fund to challenge the recovery of the fund, the government needed huge flow of resources.

“However, this poses a major problem. An empty treasury means that the money is not currently available for the government to engage these professionals due to the high fee that they charge.

“Even in cases where service will be given on contingency basis the initial seed fund required to start the process is not affordable. As a result, the action the government urgently seeks to take is being stymied,” Mr. Owasanoye wrote.

He argued that the government’s capacity to pursue all potential cases would be greatly boosted by the creation of an Assets Tracing, Recovery and Litigation Fund from which lawyers, investigators and forensic auditors will be paid.

He added that the government was also working on an arrangement where professionals engaged would be paid only on successes recorded.

“Once engaged, government can negotiate with the professionals to earn only success fees. Each professional engaged will secure its own litigation funders to support their briefs,” he stated.

Mr. Owasanoye further revealed that government would not have got as much traction as it does in its drive to prosecute ex-officials, and in the recovery of funds, if it had not received a combined financial lifeline of $5 million from international organisations such as the Ford foundation, MacArthur Foundation and the Foundation to Promote Open Society.

“This fund is supporting the mandate of the Presidency Advisory Committee on Corruption which is co-ordinating the anti-corruption effort of the government and promoting improved criminal justice administration.

“In light of the very dire economic situation of the moment this support and the proposed Assets Tracing, Recovery and Litigation Fund, is crucial to government ability to get recovery assets to support social welfare projects for the impoverished majority of Nigerians.

“Furthermore, funding support will enable government to use money that would have otherwise gone to professionals for assets recovery for other social protection projects,” he wrote.

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  • Höly Wähala

    The problem with this Buhari’s Govt. is that he staffed his offices with crass and incompetent people who have no ideas to profer, and bring little in terms of experience to the table… like this crass professor. During the first few months in power, Buhari junted the world securing cooperation agreements with global leaders specifically on his war against terrorism, corruption and development, what is this nonsense now about lack of funds hampering the recovery of those mammoth figures lost under 16yrs of PDP raid on our treasury? President Buhari has serious questions to answer about getting cut a deal from the stolen wealth to end his war against graft, that is the only logical explanation to this lame excuse for abandoning his efforts to recover our common patrimony. Those lawyers, consultants and forensic accountants can certainly be cajoled into waiting or getting a tiny percentage of all recovered funds as part of their fees when the dust settles, that is how it is done everywhere else. The war against corruption is the only thing going for this administration after Buhari’s failure to declare his assets as promised; failure to match the dollar against the naira; failure to end Boko Haram by December as promised… and the general depression in the economy with rising cost of living. President Buhari should honorably resign and let a more capable hands handle the business of moving Nigeria out of the cesspit of corruption PDP has turned it into… Enough of these excuses joor!

    • hummm

      Holy shitty comment from you. Why are u here, cuz you sound as dumb as your comment.

      • Höly Wähala

        Yeah, right! Because this government is populated with Diploma Kemi, SparTyre VP, Osinbajo and now this incompetent professor, all Yoros without common sense. You f*ools thought governance is by making loud noise ba? Now you know the difference between khaki and leather… imagine the reason being proferred by such an incompetent idi*t as grounds for not recovering our looted funds… brainless bastards. So much for Egba education… shame on you!

      • Netanyahu

        Of course all these are too difficult for you to comprehend. The only thing left for your brainless skull is to abuse.

    • OYO MEESI

      Moron you are. Stolen money need forensic accountants and legal and financial experts to help trace and then recover these money. Their services however is not cheap at all.
      During my divorce which involved financial dispute, my solicitor was charging £250/hr. These services aren’t cheap in this part of the world.

      • Gabriel Olasebikan

        @ OYO MEESI,so you are divorced? PMB was divorced too……

      • Höly Wähala

        What’s the meaning of “wait ” to you? My keyword is for those professionals to wait until funds are recovered for a small %age of the funds. Ode, go to school… Biko!

        • Dresden

          He is a presidential material. He has 4 papers. Better than Buhari who has only 2 papers plus a distinction is Islamic studies

    • Prof Pat Mumuwole Awori

      Do you really believe in all honesty that the money stolen in the last 16 yrs of democracy far outweigh that stolen in the preceding 10 yrs of the period spanning the reign of Messrs Babangida, Abacha and – Abdusalami? These 3 crooks were in power at a time oil was sold at the highest price reaching $248/barrel in September 1990. But by the time Babangida was leaving office, the net balance of $12.7b was nowhere to be found and no infrastructure nor investments on ground to match that colossal sum. Are you not aware of this fact? Do I need to remind you of the escapades of Abacha who made the Central Bank of Nigeria his ATM and the CBN Governor his Prof Aluko Oluwole his password? Need I remind you that Brigadier Mohammed Buhari was himself a member of the Abacha regime that stashed state funds in several banks in colluding countries of Europe? Do you even in a state of irreversible dementia believe these thieves who are still alive stole less than was stolen in 16 yrs rule by PDP? Or it is your way of protecting the Northern military officers (ex-presidents) who destroyed Nigeria with corruption? …and hoping that every other person will not remember like Buhari?

      In any case, why blame Buhari for appointing laggards and dummies? The saying goes that the deep calls unto the deep. There is no way one with the mental capacity of Buhari could have exceeded his effective capacity to recognize excellence. If you still believe otherwise, then it is you who have problem because a man can only function within the confines of his IQ…and this is exactly what Buhari is doing and doing very well.

      There cannot be progress in a country where the constitution recommends that the level of education required for Presidency is Primary School Certificate because it must accommodate the laggard ethnic group. Until we have courage to dismember this country and get real countries to emerge, these absurdities will persist. Presidency is meant for intelligent, sharp, smart brains with discerning minds not the old and overly rusty.

      • Frank Bassey

        Than you 4d comment. Don’t mind dat confused boy.

      • Darlington

        Thank you my brother, you just made my day! Northerners are just clogs on the wheels of progress of this nation. Buhari is yet to present his WAEC certificate if any. Someone who used affidavits in place of copies of his certificate to run for president for three consecutive times. He has TECHNICALLY devalued Naira and still insist that he would not devalue it. Worse of all, he normally makes his policy pronouncement outside the country–which is a sign of disrespect for Nigerians at home. This is why proponents of Biafra are gaining more supporters. Nigeria is a contradiction.

    • TrueNja

      Respect, you’re 100% about this govt.

    • IZON Redeemer

      I am laughing my head off–this is the same Ibo man who supported Buhari with all his might- hours ago-hope i am not day dreaming sha——Monkey

      • Darlington

        Wahala is always on something probably drugs. He is highly unpredictable in his comments.

      • Colonel Mariama(rtd)

        You are the most despicable ingrate on planet earth. Why attribute one person’s opinion to an entire tribe. Judging by what we now know should’t GEJ be locked up for corruption?I mean this incompetent Ijaw man ran the most corrupt government in that country’s history. I personally don’t miss his do-nothing approach to governance. Good riddance to bad rubbish really.Ever ask yourself why The Economist called him a buffoon? Such an apt description of such rank incompetence.

      • Höly Wähala

        Mumu… at least l’m no scavenger-sycophant like you. Ode!

    • Gugurus Ekpa

      Wahala,

      Are you making these statements because you were afraid Ngozi okonjo Iweala was already shopping for her handcuffs and prison jumper suits.?.

    • The truth will set you free

      In politics their is always some sort of settlement and compromise between power brokers and various interest groups within a party or within a coalition.
      Unfortunately in like everything else in Nigeria, in the Nigerian political landscape, when you are settling the various groups, you end up with the Nigerian Factor.

  • Lanre

    Nincompoops as Leaders.You needs funds from foreigners to recover stolen money from your own country. Why not ask the British to come back and govern you? Useless leaders.

  • professor2000

    Editor Premium Times,

    Bolaji Owasanoye must go

    Where did Bolaji Owasanoye get the powers to beg foreigners for money
    in the name of the federal republic of Nigeria? He has no right; and so, he must
    be fired for bringing Nigeria into disrepute. That should be first thing on Monday.

    I kept my counsel at the funny-looking creatures President Buhari cobbled up
    as aides and advisers. I was looking forward to being disproved that no man
    can give what he does not have. But i am now justified. The 7-man Advisory
    Panel on Anti-Corruption that President Buhari put together is simply job for
    the boys. None of those seven [7] appointees has had a consistently known
    personal attitude against lies and dishonesty.

    They have all brought their personal weakness to bear to weaken and make
    anti-corruption war in Nigeria a joke. Here we see the Secretary of that 7-man
    Panel passing around a beggar’s bowl in the name of the the country, Nigeria.
    With nigh-illiteracy and indiscretion he’s begging a U.S non-profit organization
    (Global Witness) for money, in writing. And the purpose of that beggary is to
    assist an insolvent Nigeria stop its stealing nationals from thievery. My God!

    • sholoko

      @disqus_CmTqWyMjJb:disqus

      Hahahaha! And this Bolaji Owasanoye is said to be a Professor of Law? He does not know that neither
      he nor his shambolic advisory committee is authorized to exercise functions of state, as an ad hoc body set up
      without an Act of the National Assembly to enable it act for the STATE? He even went begging for money in
      America over the head of Nigeria’s Foreign Minister. No question, Buhari’s government is a shambles where
      anything goes – without reference to the laws and the Constitution of Nigeria. That’s not a government anymore.

      • share Idea

        This just a tip of the iceberg. They have already received $5m and the nation was not briefed – Nigeria we hail thee

        • xtraview

          Professor2000:You sef no book so? You said Bolaji Owasanoye is Secretary, right?
          Does that not tell you that at the minimum he must have colluded with the Chairman
          of that Committee, Professor Itse Sagay, to go begging ordinary Americans for
          money in the name of the President of Nigeria, Muhammadu Buhari? Of course,
          that legal presumption follows, unless it is rebutted by Professor Itse Sagay
          explicitly saying Bolaji Owasanoye acted solely. In which case Bolaji Owasanoye
          must be detained tonight by the EFCC for financial fraud. If President Buhari
          has self-respect he will dissolve this useless Sagay Committee today. His name
          has been thoroughly messed up, officially, in this beggary ploy to wangle cash.

          • Justice Now

            @shareidea:disqus

            BOLAJI OWASANOYE AND PROFESSOR ITSE SAGAY ARE BEGGING IN THE NAME

            OF MUHAMMADU BUHARI – WITHOUT ANY AUTHORIZATION – AND PERHAPS LIKELY

            VERY LIKELY, INTENDING TO ALSO POCKET WHATEVER THEY RECEIVE, AS TIPS.

            BOTH MEN MUST BE SACKED FORTHWITH IN THE NAME OF ALL THAT’S RIGHT.

          • Victor Towobola

            You guys are on something normal reasonable person should not be writing this way .you surely eat your words one day.

  • Nigeria4u

    This government is wasting billions to recover chicken change when our economy is dying and people suffering.

    • Abdul

      Read the story again

  • dan

    This so called adversary committee, what have they done with the $5m donation they have already secured? So, Nigeria has now turned beggar? God help us!

    • share Idea

      Imagine $5m at the current exchange rate – Buhari is the most corrupt leader in Nigeria but likes pretending, posterity will keep exposing him

      • Abdul

        Sometimes i wonder whether some of you are born by a goat or human being. Just hear the nonsense you just spewed out.

      • Olusola

        How much is $5M, do you think you have lawyers in Nigeria competent enough? How much will foreign lawyers charge you? Our police doesn’t have a single biometric finger printing machine at any police station across Nigeria, except perhaps Louis Edet house Hqter, let alone forensic experts. All the funding they secured to equip police with such equipment they embezzled it. Even those they sent abroad to study such courses dont pass. We are in dire strait and things could get lot worse before it gets better.

    • Lanre

      Don’t mind the liars. I only pity my fellow Omoluabi Yooba who are going to be disgraced. Imagine. How difficult is it to know if somebody has stolen money? Let us take Olusegun Obasanjo as an example. You ask him to submit his asset declaration forms (prior to taking office and after) – two forms. He submits them. Abi? You then seize every and anything traced to him and not declared. Do that for Jonathan; Okonjo-Iweala; Tinubu; Fashola; Namadi Sambo. If they make the mistake of opening foreign accounts, they are in even greater trouble. Every bank has AML (Anti-Money Laundering Guidelines and rules). Go and ask HSBC. Owasanoye is a disappointment with this unintelligent letter. But then I have always said Nigeria will always be governed by unintelligent people. That is the way the country is rigged.

      • Olusola

        Ask HSBC about what? buddy, come off this sentiments, Nigeria would have collapsed if GEJ won.

        • dan

          So where are you now heading since GEJ didn’t win? 1$ = N400+ with Buhari’s government in total disarray. They can’t even make a budget, incompetence everywhere, oh my God, how are we going to get out of here?

          • Darlington

            It’s a pity. Buhari should resign and apologize to Nigerians.

  • Tafidan Dogon Daji

    You are a great liar,my friend!I wouldn’t know why you choose to destroy the name of Col Dasuki simply because of enviness.Enemies of the immediate past government and its officials do clap their hands when ever mention of loot is made even without a verdict by a competent court other than that of public opinion.
    Prof,i stand by my convictions that Dasuki is never a cheat nor a thief but an officer who knows the job.As far as am concerned,the money herein referred was not meant for arms purchse to fight insurgency but were to solicit for votes and nothing more.Therefore,have the wisdom to advice the government of the day to allow Dasuki to go on bail as ordered by courts.

    • Abdul

      Lol, see criminal o, Dasuki friend, how much did he dash you from his loot? wor wor face.

    • Ashibogu

      Dogodaji, I know you are from Dogondaji. No one is witch hunting Sambo, rather, he finished himself by becoming a Father Christmas. His father served this country well and is well loved. He built Dogondaji House which used to be the best building in Sokoto aside the CBN office on Gusau Road. He was an avid promoter of Education. As Chairman of the Parents Teachers Association and working with the late Mr Ajepe, he provided a lot of facilities at the Federal Government College Sokoto even drilling a very deep borehole for use by students who came from every nook and cranny of the nation to seek knowledge. Unfortunately, Sambo has by his conduct tainted his father’s achievements. Baraden Sokoto and later Sultan Dasuki was a man of means and great compassion, humble to a fault and development oriented. Sambo sadly was a sharp opposite and is today reaping the fruit of his character. No body do Sambo, rather na im do imself!

  • Tufiakwa

    Nonentitycracy is a system of government led by an illiterate Bokohari with no policy agenda and zero ability to form one.

    • Lanre

      I love that. Nonentitycracy. A neologism adroitly apt for the current epoch. I have added it to my list of words for usage in describing the current regime.

  • IZON Redeemer

    This is one of the most disgraceful acts to be embarked upon by Istekiri man Sagay and his co thieves in Nigeria—And the best description for this Satanic behaviour is corruption personified—Begging foreign nations to finance the fake anti corruption war of Buhari and Efcc is a purified system of stealing by tricks—-The funds looted by Amaechi—Buhari—Tinubu –Fayemi Dambazua–Prof Yakubu and Aisha Buahri if recovered, are enough to cover the financial needs of the 31 states of the Federation———thieves

  • Burning Spear

    Let them tell us how much Nigeria spent to recover the money Abacha looted and stashed in Swiss bank accounts—-Was Buhari not the very person who declared to all that Abacha did not steal a dime–Now he is chasing Dasuki to rrecover the said Abacha loot whose expenditure was carefully supervised by the government of Switzerland———————–

  • Prophet

    Buhari has secured cooperation from major world powers in fighting corruption.
    You have salaried professionals on your payroll. What other experts are you looking to hire?
    What happened to the folks that did the forensic analysis of Tarfa’s accounts? Instead of sending your professionals to the countries where looted funds are traced and engaging their own government experts to help with the investigations in lieu of aforementioned cooperation, you are looking to award contracts to recover funds (complete with seed money)

    Owasanoye, do not let us descend on you with this your harebrained idea. Clearly, you either lack the capacity to successfully manage the duties you have been assigned or you are trying to create opportunities for further looting of funds in the name of recovering looted funds. In any case, you should resign your appointment.

  • Factsay

    Even fighting corruption is now hard 4 Buhari.
    What else can this govt achieve?

  • Cleartruth

    So nigeria the giant of africa needs to beg for money from foreigners to pay lawyers and experts to recover our stolen money. What exactly is the problem of our leaders? Are we serious at all? What a shame.

    • jon

      @Cleartruth: Did you say the giant of Africa? What about Nigeria with the biggest ECONOMY in Africa? Bahari should retire to his Kastsina village to tend to his cattle, sheep and goat.

      • okenwa

        Retire, he is already president emiratus..

  • Kickboxer

    EXCUSES EXCUSES EXCUSES……BRAINLESS BUHARI & “TECHNICALLY INTELLIGENTSIA” DEFEATED BOKO HARAM IN DECEMBER 2015 AND NOW THEIR MEDIA-PROPAGANDA against political opponents cannot be proven then now resort to BAMBOOZLING “technically intelligentsia” minions, APC e-rats, and “southern Yariba almajiris” crawling all over the Internet…..soon British Watch dog would be blame just as DG Budget is blamed by the worst scandalous BUDGET corruption ever recorded in the world.

    As it is with other incompetent “technically intelligentsia” the budget “technically intelligentsia” hid and claimed items multiple times on the bugdet across all ministries. If NASS did not reveal it, the CRIMINALS IN ASO ROCK & APC would have taken the money and still would not supply the items, as they did from 1970-1999.

    The same brainless Buhari who is embarrassing Nigerians with his MUMU fight-against corruption swore that Abacha did not steal money…….again, only “technically intelligentsia” minions & “southern Yariba almajiris” can take a look at brainless Buhari and his corrupt cronies and take them serious.

  • Prophet

    ADDENDUM: Owasonaye, the mere fact that not a single charge has been filed against some of these people in Nigeria talk less of securing a guilty verdict, (while the other cases are in various stages in the judicial process) But you have already embarked on your campaign trying to raise funds to recover their loot leaves your motives very suspect!
    Is that not a bit premature?

    The old woman merely coughed to clear her throat and you are already running around raising funds for her coffin and after-burial party??

    • Kickboxer

      the “technically intelligentsia” such as Owasonye, who defeated Boko Haram in 2015, is trying to steal British money but, don’t worry, they will pick him up like Ibori

  • Otile

    Is Imam therefore going to write off Obasanjo’s loots, Abusalami’s loots, Babangida’s loots, and Turai’s loots? What kind of justice is this?

    • Dawood

      Good question. Madueke knew what she was doing: drain the Treasury of so much money the government will find it hard to come after them. If that is so, why is Buhari running around the world wasting so much money. Nigerians will be very upset if after all the energy and time spent on this corruption thing, all we have to show for it are excuses.

      • okenwa

        Sorryiiiiiiiiiiiiii

  • Princess Amina

    These people are all thieves. Just there deceiving Buhari who happens to be a bigger thief than even Abacha.

  • emmanuel

    This Buhari has no vision. How can the blind lead the sighted? How can someone who could not pass Secondary school exams lead a country? We have seen the importance of passing Mathematics in WAEC. If Mr Buhari had passed Maths in WAEC Exams or even Arithmetic is Primary school he would have known that Rotimi & Fashi Baba inflated millions to Billions. But Buhari does not know the difference between millions and billions and that is why he signed the budget and even carried the budget all the way from Aso rock to Senate chambers without knowing. Chei! Wahala dey o!

  • S.T

    @aminukolawoleonyekwere:disqus

    PRESIDENT Buhari can nip this odd foreign relations fiasco in the bud.
    Sack Bolaji Owasanoye; dissolve the 7-man Advisory Committee as now
    tainted with indiscretions; if not impure motives, reselect a new advisory team
    with persons having personal reputation against corruption known to the public.
    The present committee has had no credibility in the seven [7] months it existed.

    Nobody in Nigeria sees a genuine anti-corruption person in that
    committee. The rains started beating Buhari with that bereft committee which
    Nigerians could not swear upon. For Buhari to fail to sweep off this mentally
    compromised committee will send a strong signal to the international community
    that a sub-plot to divert grants donated by well-wishers is embedded in all this.
    Nigeria can’t afford to come under such slurring cloud. It could be very costly.

    • Omitee

      Committees are not the problem. Buhari is the problem. Point to one successful company or corporation in Nigeria or anywhere in the world where the MD has the poorest level of education or no education and employs executive directors more experienced and educated than he is? It is simple logic. But in Nigeria we believe in miracles…any dummy and brainless can be president. Oh Sambissa! Oh Cowardice of a people…..

      • S.T

        Omitee,

        I CAN SWEAR WITH MY LIFE THAT BUHARI HAS, AT LEAST, FORM FOUR [4] EDUCATION
        – EQUIVALENT TO SS2 FORMAL SCHOOLING. THAT FACT IS BEYOND ANY ARGUMENT.

  • Holy Aboki-nee Wahala gone mad

    The problem with this Buhari’s Govt. is that he staffed his offices with crass and incompetent people who have no ideas to profer, and bring little in terms of experience to the table… like this crass professor. During the first few months in power, Buhari junted the world securing cooperation agreements with global leaders specifically on his war against terrorism, corruption and development, what is this nonsense now about lack of funds hampering the recovery of those mammoth figures lost under 16yrs of PDP raid on our treasury? This same Buhari told the world that ex-Presidents Obasanjo and Jona Dumbo cannot account for $150bn in oil dollars… hence, President Buhari has serious questions to answer about getting cut a deal from the stolen wealth to end his war against graft, that is the only logical explanation to this lame excuse for abandoning his efforts to recover our common patrimony. Those lawyers, consultants, forensic accountants etc, can certainly be cajoled into waiting or getting a tiny percentage of all recovered funds as part of their fees when the dust settles, that is how it is done everywhere else. This war against corruption is the only war Buhari cannot lose, it is the only thing going for this administration after Buhari’s failure to declare his assets as promised; failure to match the dollar against the naira; failure to end Boko Haram by December as promised… and the general depression in the economy with rising cost of living. President Buhari should honorably resign and let more capable hands handle the business of moving Nigeria out of the cesspit of corruption PDP has turned it into… Enough of these excuses joor!

  • Colonel Mariama(rtd)

    In said it before and I will say it here again:I HOPE HE FAILS WOEFULLY.
    If this isn’t proof then I don’t know what is. This government is totally listless. .

  • this local-thief nko

    The massive looting of Lagos state by the Leader of the Action Congress of Nigeria, Asiwaju Bola Tinubu has reached monumental proportion. Tinubu whose companies recently conered a multi billion road construction job in Ogun State, has in his pocket all the juicy contract in all the Action Congress’ states.

    In retrospect, it might be difficult to come to terms with the fact that an individual could hold the entire south west to ransom. There is no doubt that Tinubu has succeeded in buying the Lagos State government, and he has done this using government funds.

    .

    Whenever someone in Lagos begins to wonder where their 4th mainland bridge went, or what was the fate of the pipe-borne water project, or even where the schools and hospitals had vanished to, there is a silence that contains it all. The largest landlord in Lagos has done as he has pleased, and the rest of the state just has to deal with it. For instance: Number 4, Oyinkan Abayomi (formerly Queens) Drive, Ikoyi: A 5-bedroom detached house on one acre of land which was originally the Lagos State Governor’s guest house since 1979, but which now belongs to Tinubu. The certificate of occupancy of the property valued at N450 million was signed and released to him by Fashola in 2007 shortly after he assumed office.

    Tinubu’s residence at 26 Bourdillon Road, Ikoyi was initially falsely presented as Oando Plc Guest House. Later, he purportedly bought it from Oando, and used public funds to rebuild and renovate it. The Lagos State Government bought the property and paid an undisclosed sum to him and thereafter gave the property back to him under the bogus Pension Bill he signed to law shortly before he left office in 2007. The property is worth over N600 million.

    The annex of the Lagos State Guest House in Asokoro, Abuja was bought by the State Government in 2006 for N450 million, purportedly to protect the main house from security breach. Shortly after Tinubu left office, the property was transferred to him under the pension plan he signed into law before leaving office.

    The 250-hectare land valued at about N35billion and strategically located at the Ajah junction on Lekki Road was initially meant for a General Hospital for the people of Eti-Osa Local Government but was stolen by Tinubu and handed over to Trojan Estate Ltd – a company owned by Deji and Wale Tinubu – to develop as Royal Garden Housing Estate at the expense of the taxpayers of Lagos.————-

  • emmanuel

    @Prof Pat Mumuwole

    “In any case, why blame Buhari for appointing laggards and dummies? The saying goes that the deep calls unto the deep. There is no way one with the mental capacity of Buhari could have exceeded his effective capacity to recognize excellence. If you still believe otherwise, then it is you who have problem because a man can only function within the confines of his IQ…and this is exactly what Buhari is doing and doing very well.”

    “There cannot be progress in a country where the constitution recommends that the level of education required for Presidency is Primary School Certificate because it must accommodate the laggard ethnic group. Until we have courage to dismember this country and get real countries to emerge, these absurdities will persist. Presidency is meant for intelligent, sharp, smart brains with discerning minds not the old and overly”

  • Darlington

    These guys are all rogues. Buhari should dissolve this 419 Committee led by Itse Sagay with immediate effect. This is another government-sponsored Advanced Free Fraud.

    • adeade

      It’s Sagay nd the rest have to eat nah… Let them borrow to fight corruption as Agbobu has said..who on earth will give them his or her hard-earned money?

  • Darlington

    @Prof Pat Mumuwole

    “In any case, why blame Buhari for appointing laggards and dummies? The saying goes that the deep calls unto the deep. There is no way one with the mental capacity of Buhari could have exceeded his effective capacity to recognize excellence. If you still believe otherwise, then it is you who have problem because a man can only function within the confines of his IQ…and this is exactly what Buhari is doing and doing very well.”

    “There cannot be progress in a country where the constitution recommends that the level of education required for Presidency is Primary School Certificate because it must accommodate the laggard ethnic group. Until we have courage to dismember this country and get real countries to emerge, these absurdities will persist. Presidency is meant for intelligent, sharp, smart brains with discerning minds not the old and overly”

    • Darlington

      @ Darlington
      Thank you my brother, you just made my day! Northerners are just clogs on the wheels of progress of this nation. Buhari is yet to present his WAEC certificate if any. Someone who used affidavits in place of copies of his certificate to run for president for three consecutive times. He has TECHNICALLY devalued Naira and still insist that he would not devalue it. Worse of all, he normally makes his policy pronouncement outside the country–which is a sign of disrespect for Nigerians at home. This is why proponents of Biafra are gaining more supporters. Nigeria is a contradiction

      • Burning Spear

        Remember Buhari is from Niger Republic-and Not Nigeria—————-hence the name Mohammadu————-instead of Mohamed—————which we saw on his fake certificate—–that Fashola forged for him–The man is so brainless he can not move the country beyond this level————The USA knew what they were doing when they imposed him us us via the CIA

    • Just take a look at the mediocres that have lorded over Nigeria for 45 yrs to understand the foundation of the mess we have today. Just as we thought we were getting out of the mediocrity, a conspiratorial gang up had returned our nation to the dark days. Nigeria took 6 steps forward and 30 steps backwards. May God save us.

    • okenwa

      President emiratus buhari has issued a technically withdrawal notice to his fake anti-corruption war.

  • agbobu

    WE MUST BORROW TO INVEST AND RECORVERY OF STOLEN FUNDS FROM THE LOOTERS OF OUR TREASURY IS INVESTMENT. WE THE PEOPLE THE MASSES SAY THAT THE GOVERNMENT MUST BORROW MONEY TO PURSUE ALL THOSE WHO STOLE OUR MONEY AND RECOCOVER E STOLEN MONEY FROM ANY WHERE OR PLACE IN THIS PLANET EARTH.

    • MilitaryPolice01

      Are you making sense to yourself, how can you borrow money to recover stolen funds ? Why should you even believe that lack of funds should be an impediment to recovering stolen funds

      • agbobu

        THE PRESIDENCY OF GOODLUCK JONATHAN WAS NOT ONLY A DISASTER BUT A DAY LIGHT VERY SHAMELESS ROBBERY. WITH GOODLUCK JONATHAN AS PRESIDENT WE DO NOT NEED AN ENEMY.

        • Ini Jeremiah

          Kolo mental!!!!!!!!!!!!!

  • Adewolu Kazeem

    What all these comments am reading, I have come to the conclusion that corruption is truly fighting back. But don’t stress you self too much, the fight against corruption is divine, nothing can stop it except God.

    • Iniabasi Akpan

      …& where is d fight? These empty heads r telling u they can’t trace funds & u r still hallucinating? Jeeeeeez…how did we get this low?
      Anyways… Just wait n see d end of this ur useless government…

  • Aremu Mathew Okikiolu

    Clueless buffoons. With all your degrees and paper qualifications, none of you garrulous dimwitted quantities offered an alternative to recover the looted funds. Ignorance will perish Nigerians who can’t read and comprehend a simple letter.
    There are several billionaires in the world without degrees;Henry Ford is one, bill Gates is another, Steve Jobs, was one to mention these three.
    Those who have the degrees have looted the treasury and some corrupt minded quantities are Wailing.
    Sagay and his team are working hard and no amount of idiocy display here will stand. Outsourcing these experiences tied to success is a brilliant option.

    • Prophet

      You should not be so hard on you and your kind! We are sure the good lord created you for a purpose.

  • Prophet

    To all those here that seize every opportunity to crap on Buhari for former President Jonathan’s sake, know that Buhari did not become President by luck!
    A majority of Nigerians voted him into office…and they back him 100%

    In order for them to understand how far this backing goes, they need only look at themselves and their continued unwavering support for the abysmal leadership and moronic/ crime defined administration of GEJ!

    How much more do they think Buhari’s supporters have for him especially when considered from the perspective that things are finally moving in the right direction?

    The election has come and gone and GEJ lost! Nothing they can do or say will make Nigerians reconsider GEJ’s administration in lights better than what was experienced!

    We advice them to use their “mouth breather” mouths as a tool to further Nigerias progress rather than waste their time incurring the wrath of the people by constantly disparaging their elected president out of frustration.

    • Mickey

      U r sick. What happen to your own mouth. Abi na your advise they cause all this hardship
      One will expect that by now your likes will be on their knees begging God for forgiveness rather u r still on the web ranting all sorts of rubbish

  • Waalay Naija

    Conventional methods will not get our monies back….USE UNCONVENTIONAL METHODS..Haba be creative. they have looted the funds abi so whats the Mr nice guy approach…Break one or two legs here and there one or two mishaps here and there then you will see our monies returning like magic…. I beg stop all this bobo nice..Say Gov. wants to pay for a new expressway just locate the money and tell the looter pay the company…shi ke na…or else them family members go begin get one wahala or the other one by one….Do i have to spell it out…Are we not fighting boko haram with arms so fight looters with arms too….

  • musa aliero

    Nawawo! This is truly a government of excuses!! No comment

    • d.omatsola

      I AM ALL EARS AND WAITING FOR PRESIDENT MUHAMMADU BUHARI TO ACCEPT ERROR.
      THAT WILL BE THE VERY FIRST TIME BUHARI WILL BE CONCEDING THAT HE’S BLUNDERED.

      • sholoko

        @Mrd77:disqus

        Hahahaha! And this Bolaji Owasanoye is said to be a
        Professor of Law? He does not know that neither he nor his shambolic advisory
        committee is authorized to exercise functions of state, as an ad hoc body set
        up without an Act of the National Assembly to enable it act for the STATE? He
        even went begging for money in America over the head of Nigeria’s Foreign
        Minister. No question, Buhari’s government is a shambles where anything goes –
        without reference to the laws and the Constitution of Nigeria. That’s not a
        government anymore.

        • Short n’ Sharp

          IF BOLAJI OWASANOYE IS THIS DULL, HE TOO MUST BE ANOTHER S.A.N

  • DOD

    Useless President useless Govt. Excuses, liés and propaganda

  • tsunami1earthquake

    Hey, fellow Nigerians, the ball is in your court right now! There is now an Assets Recovery Fund (or Foundation?). So every villager, every beggar, poor person, student, toddler must contribute at least 3000 Naira to that fund in order to enable Nigeria recover all its stolen funds lodged at home and overseas! After paying this money, please wait and starve in the hope that the recovery of these stolen funds would be successful, and subsequently, the monies would be ploughed back into reviving the economy and then giving you jobs to feed your consequential emaciated and starving bodies!

    Buhari, use your ‘squealer’, Alhaji Lai Mohammed, to do what he knows best: making dyslexic statements, pulling the wool over people’s eyes and drumming up hatred against Jonathan! Let Lai Mohammed revive all his erstwhile electioneering campaign sound bytes and blare them loudly to all Nigerians in order to let them know your intent. Maybe this would make Nigerians to go deposit all their life savings into the Asset Recovery Fund.

    Meanwhile, the Nigerian lawyers must be patriotic and pursue the cases in court in order to win at the court, otherwise they would not be paid a dime! The more cases you win, the more money you get. Most of you should now become Ricky Tarfa and deposit money (at least 300,000 Naira) into the bank accounts of the various judges, as funeral fees in respect of their departed beloved ones or those that would depart in future. Then promise these judges 50% of any money you would get should you win any case in their courts. And let this promise be in a written contract that could be litigated upon should any of you lawyers default.

    Let the music play on and on! Shall we now say that the beautiful ones have been born?

    • george

      This is a government of the Inconclusive by the Inconclusive and for the Inconclusive.

      APC SHAME.

      Excuse is their first name, lying their second name God hates them all.

  • Abidilagungun

    Amazibg, they are already seeking funds to recover looted funds. How much does the committee need to do its work? Is it a funds recovery commitee or a policy advisory committee? I thought Efcc is better equipped for investigation and has multilateral relationships globally. Truth is this man and his chairman Prof Sagay are broke and seeking their own padded ‘per diems’.

  • S. A. Maigari

    As our government spends huge amounts charged by lawyers, financial investigators and forensic experts abroad in order to recover stolen funds and the looters themselves pay exorbitant amounts to another group of these professionals to challenge the recovery, it means only these so-called foreign experts smile to the bank while we Nigerians may never benefit from the exercise, if what happened to Abacha loot is something to go by. This of course makes us Africans big fools to these experts. If these foreign governments really want to help us recover the funds, to the extent that some of them even sign MoU with us, why can’t they just point to us where the looted funds are as their own security agents have intelligence reports on all looted funds?

  • Excisionist

    Lame excuse for incompetence and witch hunting. Change indeed. Shame !!!

    • Hassan Lawal

      …just take a while to look back,.and juxtapose it with your reasoning at present,you will agree with me that you black Africans are really dumb….so,you can really think that this government is with hunting? gosh!!

  • Ish Adam

    Buhari/APC is a very bad product deceitfully branded and packaged by APC for gullible Nigerians. APC as a brand is damaged so come 2019 Nigerians should reject this fake brand.