President Buhari vows to recover stolen oil money
Buhari
Insists: ‘I’ll go slow and steady
PRESIDENT Muhammadu Buhari has confirmed evidence of massive looting and stealing of Nigeria’s crude oil by some government office holders.
They include former ministers whose names are being compiled by relevant agencies for possible prosecution.
The President, while answering questions from members of Nigerians In Diaspora Organisation (NIDO) in the United States of America and Canada at the Nigerian Embassy in Washington DC on the third day of his visit lamented that “Corruption in Nigeria has virtually developed into a culture where honest people are abused.”
He however vowed that his administration would trace the accounts of individuals who stashed away ill-gotten oil money, freeze such accounts recover the loot and prosecute the culprits.
“As soon as possible, we will approach those countries to freeze such accounts, prosecute the culprits and return the monies to Nigeria.
During a meeting with President Barack Obama in the Oval Office on Monday, Buhari disclosed that about $150 billion in Nigeria’s oil money was stashed away in various banks outside the country and solicited Obama’s assistance towards recovering such monies.
According to him: “250,000 barrels per day of Nigerian crude were being stolen and people sold and put the money into their private accounts.
“The amount involved is mind-boggling. Some former ministers were selling about one million barrels of oil per day. I assure you that we will trace and repatriate such money and use the documents to prosecute the culprits.
A lot of damage has been done to the integrity of Nigeria with individuals and institutions already compromised.”
He recalled that during his period as Federal Commissioner for Petroleum under a military regime, the Nigerian National Petroleum Corporation (NNPC) had only two traceable accounts before paying oil proceeds into the Central Bank of Nigeria (CBN).
The President, while skeptical about oil subsidy noted that if subsidy was removed, transport, housing and food prices would go out of control and the average worker would suffer untold hardship.
He said the “economy is in an extremely bad shape,” following 16 years of alleged bad governance by the Peoples Democratic Party (PDP) which ran down the oil refineries and had the “treasury in their pockets.”
His All Progressives Congress (APC)-led administration, Buhari said, would fulfill its three-pronged campaign manifesto of providing security, turning around the economy with a major focus on youth employment and fighting corruption.
He said agriculture and mining would receive priority attention as faster job-creation avenues for the teeming unemployed youth, adding that some foreign investors had agreed to take advantage of the immense business opportunities in Nigeria.
He also confirmed that some leaders of developed nations across the World, where such stolen monies were being kept, had been contacted to assist Nigeria to freeze such dubious accounts., noting: “We are now looking for evidence of shipping some of our crude, their destinations and where and which accounts they were paid into and in which country.
We have started getting documents where some of the senior people in government, former ministers, some of who had as many as five accounts into which they paid stolen oil monies.
“I assure you that whichever documents we are able to get and subsequently trace the sale of the crude or transfer of money from Ministries, Departments, Central Bank of Nigeria, (CBN) we will seek the cooperation of those countries to return those monies to federation accounts. And we will use those documents to arrest those people and prosecute them . This, I promise Nigerians.’’
He said that his administration was carefully studying the issue of oil subsidy, but that he would not be a party to taking decision that would further impoverish Nigerians in the name of removing oil subsidy.
His words : “Who is subsidizing who? But people are gleefully saying ‘remove subsidy’, they want petrol to cost N500 per litre. If you are working and subsidy is removed, you can’t control transport, you can’t control market women, the cost of food, the cost of transport.
“If there is need to remove subsidy, I will study it. With my experience I will see what I can do. But , I’m thinking of those Nigerians who constitute half of the population who cannot afford to live without subsidy. From where will they get the money to go work with? How can they feed their families? How can they pay rent?.’’
On appointment of ministers, Buhari dismissed those accusing his administration as being too slow in taking crucial decisions concerning governance.
He cited the example of previous governments under the PDP which took more than two months to settle down during its 16 years of ruling the country.
The President, however assured that, though his administration might be accused of being slow, it would be steady in fulfilling its campaign promises to Nigerians.
He also pledged to study the Diaspora Bill with a view to signing it into law as being demanded by the Nigerians in Diaspora.
To those of them looking for government jobs back home , he urged them to suspend such thoughts as Nigeria’s economy was in a bad shape and it would take his administration about 18 months or more to resuscitate it.
He, however, promised that some of them would be engaged by the Federal Government as consultants to enable them contribute their quota to the nation’s development.
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20 Comments
The first thing to do is to recover all the stolen money, this is to render the thieves powerless and left with nothing to hire big time crooked lawyers who will frustrate prosecutions in court. If this is not done urgently, the thieves will have upper hands and will never be brought to justice. If possible also, the government can constitute a special court to try the thieves and appoint incorruptible judges who cannot be bribed. This is the way to go, Nigeria will survive.
WELL-SAID.
PRESIDENT BUHARI FOLLOW IT UP AS SUGGESTED.
Obansanjo recovered some….but till date nobody could account for it. PMB the constitution is the answer to all this issues. Stop pretending. You cannot jail anybody. The last resort is the beg them to return 10% of stolen wealth. The judiciary is powerless and you know that.
OBASANJO IS HIMSELF AN OTA FARM THIEF AND HILLTOPVILLA LOOTER. HE IS ALSO GOING TO GO TO JAIL. ALL PROPERTIES OF THIS EX PENNILESS ROADSIDE MOTOR MECHANIC NOW TURNED BILLIONAIRE, WILL BE SEIZED. THIS BIG-TIME SHAMELESS THIEF.
OBJ WIPED out all our debt.GEJ did nothing. He looted and created the debt we are in now. Any body supporting GEJ must be a corrupt person
VERY LOUDLY, VERY FIRMLY, VERY ROBUSTLY AND VERY COMPLETELY WE THE PEOPLE, THE MASSES AND NIGERIANS SAY THAT, DEZIANI YOU ARE A VERY HUGE DISGRACE TO WOMANHOOD, DECENCY, DECORUM AND HUMANITY. YOU MUST RETURN ALL THE AMOUNT YOU COLLECTED FROM THE STOLEN 20 BILLION DOLLARS YOU AND YOUR GANG STOLE FROM THE NNPC, NAME ALL THOSE WHO TOOK PART IN THE LOOT, MAKE THEM RETURN ALL THE STOLEN MONEY AND ALL THE THIEVES INCLUDING YOURSELF MUST PAY VERY DEARLY FOR THIS VERY TERRIBLE CRIME. DEZIANI YOU WILL RECALL THAT YOU ASKED GOODLUCK JONATHAN TO SACK THE THEN GOVERNOR OF THE CENTRAL BANK SANUSI, BECAUSE HE HAD THE COURAGE TO RAISE THE ALARM THAT THE MONEY WAS STOLEM FROM THE CENTRAL BANK. DEZIANI, GOODLUCK JONATHAN AND THE GANG OF THIEVES SHAME ON ALL OF YOU AND YOU MUST ALL HANG YOUR HEADS IN VERY PERMANENT DISGRACE
MUM talk
Lets watch and see. The very foundation of the country ‘constituion is very weak’…ABU am with you but PMB will be powerless when it comes to the constitution and weak judiciary.
This is a very good move in the right direction, go recover the stolen loot PMB and when you do, channel them into sectors that will bring about meaningful change and development to our dear country Nigeria.
Almighty God will Bless you for these suggestion
Nice one mister president..#More Power To Your Elbow
NIGERIANS HAVE NOT SEEN AnY THING YET. IN ANY TOURNAMENT LIKE BOXING YOU ONLY CONFRONT THE OPPONENT THAT IS BEFORE YOU OR CONFRONTS YOU, AND YOU DO NOT GO AFTER OR CONFRONTS PREVIOUS CHALLENGERS, THIS TIME THE OPPONENT THAT IS CONFRONTING PRESIDENT BUHARI AND NIGERIA IS THE ADMINISTRATION OF EX PRESIDENT GOODLUCK JONATHAN, THAT MASSIVELY LOOTED AND STOLE OUR OUR MONEY AND WEALTH.
AND THOSE THIEVES MUST REFUND ALL THAT LOOTED MONEY AND ALSO GO TO JAIL.
with what team are you going to recover the monies. a team of rumour mongers and nocturnal fellows. If there is money stolen please tell us and pove it. The campaign is over and election over and done with. No time for headlines and sloganneering. O million barrels of oil a day is 75 miilion dollars a day. That amount cannot be hidden or laundered. Not in any bank or any country. The world is now a global village. Only those who believe there is still a West Germany would believe that. It makes good headlines for those baying for blood. There will be no rivers of blood may be a sprinkle.
On a positive note there has been a noticeable drop in incidence of Pipeline vandalism since the inception of this administration.. Who knows if it was not the measures put in place that are coming into effect. As far as i know there has been none with this administration as there is no team.
Meanwhile while the dithering is going on the economy is drowning.
Start geverning and stop talking.
We need creative leadership not antagonistic leadership. To create is to make something out of what is available . A good manager will always work with what is available and create some stability. Focus is the greatest form of creativity when a man is focused on what he can do with what he has at hand , he is able to gradually create stability and from stability order and from order he creates trust which is the foundation of development. May God give Nigeria creative leaders.
oleeeeeeeeeeeeeeeee ni eeeeeeeeee.
creative leadership indeed….how else can any leader be creative if not recovering stolen public fund? Besides what’s the essence of creativity? The amount involve here is $150 BILLION!!!
Vow, take oath whatever…just do it!
Buhari is doing a fine job and on the right track as he is fine tuning his approaches to strategies,policy measures and with a firm grip of his vision
Suggestions: INEC should be reform so that only credible people can contest election instead of allowing every manner of fraudsters, 491ers, Smugglers, Oil Bunkering and other criminals to come in again as Governores, Senators, Reps, Ministers etc
The Police should equally be reform for a more professionalism and discipline
The Judiciary including the Tribunals is very urgent in reformation as this is where the corrupt politicians and dubious businessmen and women collude to get away with loot
Others include the Custom & Excise, CBN, NPA, EFCC/ICPC,
Please Baba, Mr President Buhari do al these for us and make sure that NONE of the fraudsters and all the characters listed above come near power come 2019
May the Almighty Lord God in Heaven guide and protect our President to be able to complete his noble assignments for Nigerians in Jesus Name(Amen)
Corruption has teeth.
I wish the President support of suffering Nigerians & God guidance to recover our looted commonwealth.
We will review and take appropriate action.