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NUHU RIBADU’S HASTY GRAFT
INDEX
By Jide Ayobolu
Oct 18, 2006 -
jideayobolu@yahoo.co.uk
The chairman of Economic and Financial Crimes
Commission (EFCC), Mallam Nuhu Ribadu recently named former Head of State,
General Sani Abacha as the world biggest looter. He also named Mobutu
Seseseko, former President of Zaire, now Congo Democratic Republic as
next to him. He said the late Abacha is the world record holder among
Heads of State and Presidents of countries who looted their countries’
treasuries. But the point is perhaps, Ribadu has hastily concluded on an
issue that is still unfolding, this is more so, if one puts in proper
perspective the on-going revelations about the involvement of President
Olusegun Obasanjo in several under-the table-business-deals, such that has
never been witnessed in the annals of the country.
The is no doubting the fact that, when General
Obasanjo came out from the prison in 1998, after he had spent three years,
three month and three days, he came out as a poor man, in fact he was
indebted to a number of banks, not only this, his family has started
selling off equipment and other valuables in his Ota farm, almost
everything he had, have all gone down the drain, he was in fact,
rehabilitated by a group of political elite, by making sure that he became
the president of Nigeria in 1999.
Hence, the question has been asked that, how
come that a man who was poor in 1999 become suddenly rich overnight? What
is the source of his wealth? Where did he get his money from? How come
that today he is perhaps the richest Nigerian today and the richest
President on the continent of Africa? Similarly the following germane
questions have been put to the president, namely, who owns Ajaokuta Steel
Mills, Delta Steel Complex, Jos Steel Rolling Mills, Oshogbo Machine Tools
and Itakpe Iron Ore Company? Who is deceiving whom? Who is the largest
shareholder in UBA? Who bought the shares of Akeem Bello-Osagie and
threatened him with arrest and imprisonment?
Furthermore, who has the largest share in
Zenith Bank? Who was the largest shareholder in First Interstate Bank Ltd,
before the merger into Unity Bank? Who has the largest shares in Unity
Bank today? Whose interest is the daughter of the President representing
on the board of Unity Bank? Who owns the majority shares in Virgin
Nigeria? Who gave the airline special facilities at the international
wings of our airports at the cost of N400 million? Why does Virgin Nigeria
not paying parking and landing fees and purchase aviation fuel at a
discount, while at the same time competing in the same market with other
local airlines? Who owns majority shares in Arik Air? Why was lucrative
international routes given to this airline against the regulation of ICAO,
even before the airline bought any plane? Why was the hanger of Nigeria
Airways sold to Arik air not by bidding, but through negotiation?
Moreover, why should one man set up Transcorp;
devalue our national assets, obstruct free and fair competition and sell
everything to himself and his family? If not, why did Transcorp purchase
almost the entire NITEL for $750 million when Globacom bidded $1.2 billion
for the same property? Not too long earlier, Vmobile sold a fraction of
its shares for $1.2 billion. How could all of NITEL with a vast net worth
of digital exchanges, armoured cables, three international gateways, among
others, sell for only $750million? This one man operates six farms in six
states of the federation. What is the source of the funds for these
massive investments? What is the deal between this one man with the owner
of Mittal of India? Why the hurry in granting Block 246 to the Indian
conglomerate? Is Nigeria for sale?
Again, who owns the Obajana cement factory?
Who owns the Beach land Estate? Where did the owner get the funds to erect
such magnificent, sprawling edifice? According to Dan Etete in an
advertorial placed in some foreign newspapers, he said, “take the
so-called privatization of Niger dock for example: even before the
commencement of the sitting of the Commission of Inquiry into the
management of Niger dock and over the protest of the responsible minister,
Obasanjo’s government announced, the privatization of the dockyard. When
the successful bidder could not pay the price, Obasanjo, in all haste,
extended the payment due to be sure the facility was sold. What was the
haste and was being covered up? Yet everyone recalls the stand of
government during the bidding exercise for GSM licenses. For this regime,
what is good for the goose is not good for the gander”. He went on to
explain that, General Obasanjo is a covetous person. He must own what he
sees and he sees and likes even if it means illegally dispossessing the
rightful owner.
Etete also asked in the same advertorial that,
how does this regime wish to be remembered? General Gowon’s regime will be
remembered for the tremendous contribution to infrastructural development
in the country, its strenuous efforts to defend the unity of Nigeria and
sports development…Alhaji Shehu Shagari will be remembered for the focus
on agriculture, investment in fertilizer production and the defence of
Nigeria’s oil market share in probably the most difficult market the
Nigerian oil industry has faced in its history…The initial infrastructure
for Abuja was put in place during his regime what of General Ibrahim
Badamosi Babaginda? He invested in the development of Abuja, he introduced
indigenization to the upstream segment of the petroleum sector and granted
acreage to Nigerians, a situation that was previously the preserve of
expatriate companies…Obasanjo may say what he likes about his predecessors
in office, but he has been compared unfavourably with the latter in the
management of our national economy. When respected citizens draw his
attention to this simple fact, Obasanjo does what he knows best; he
becomes abusive and refuses to listen to professional advice.
So, Ribadu ought to have waited till the end
of 2007, so that the unfolding scenario would have fully played out, for
all to really know the number one looter in Nigeria. Indeed, if genuine
answers must be provided for all these questions, then perhaps, Abacha’s
loot record will be nothing, but a child’s play.
By Jide Ayobolu
Garki 2
Abuja
Nigeria.
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