Nigeria : $420billion stolen by Nigeria's corrupt leaders

info-moetry

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militant said:
And we ask why Africa aint moving foward. Got this baffling stuff on British Telegraph.

The scale of the task facing Tony Blair in his drive to help Africa was laid bare yesterday when it emerged that Nigeria's past rulers stole or misused £220 billion.

That is as much as all the western aid given to Africa in almost four decades. The looting of Africa's most populous country amounted to a sum equivalent to 300 years of British aid for the continent.

<snipped>

With more people and more natural resources than any other African country, Nigeria is the key to the continent's success.

Mallam Nuhu Ribadu, the chairman of the Economic and Financial Crimes Commission, set up three years ago, said that £220 billion was "squandered" between independence from Britain in 1960 and the return of civilian rule in 1999.

"We cannot be accurate down to the last figure but that is our projection," Osita Nwajah, a commission spokesman, said in the capital, Abuja.

The stolen fortune tallies almost exactly with the £220 billion of western aid given to Africa between 1960 and 1997. That amounted to six times the American help given to post-war Europe under the Marshall Plan.


British aid for Africa totalled £720 million last year. If that sum was spent annually for the next three centuries, it would cover the cost of Nigeria's looting.

Corruption on such a scale was made possible by the country's possession of 35 billion barrels of proven oil reserves. That allowed a succession of military rulers to line their pockets and deposit their gains mainly in western banks.

Gen Sani Abacha, the late military dictator, stole between £1 billion and £3 billion during his five-year rule.

Nigeria has scoured the world for Abacha's assets but has recovered only about £500 million.

<snipped>

A money laundering directive agreed by EU finance ministers this month will impose new responsibilities on banks, casinos and other establishments to be more alert to signs of corruption. They will be expected to help stamp out financial abuse by high-risk customers in a position to abuse public office for private gain.

<snipped>

The G8 has refused to cancel Nigeria's loans, despite writing off the debts of 14 other African countries this month.

Prof Pat Utomi, of Lagos Business School, said that was the right decision. "Who is to say you won't see the same behaviour again if it is all written off?" he said.

http://news.telegraph.co.uk/news/main.jhtml?xml=/news/2005/06/25/wnig25.xml

peace Militant,

has the UK telegraph come up with a figure on how much the Bush's have stolen since 911. As they are the one's who bought up all the airlines that were going under along with being major stock holders in the companies supplying all the war needs...i.e. tanks, weapons & whatever else....think about that the next time you hear someone say "WHY ARE OUR SOLDIERS STILL IN IRAQ".....


This sounds more like the slaves imitating their masters again in regards to taking money which is (as Brother Pan already stated) what most European (Former slave masters) have been doing since the beginning.........

so I am slow, to believe an article from the British Press that begins with "The scale of the task facing Tony Blair (Bush relative)OLOR=DarkOrange]TO HELP AFRICA was laid bare yesterday
" - as if Tony Blair has a cape on.......sounds a little too convienient for me....

- WENEVER THE UNRIGHTEOUS BRING YOU NEWS, LOOK VERY CAREFULLY AT IT............who gains from this?? all this does is allow Tony Blair to dodge more ?'s about sending aid to Africa.......

- Sounds just like the bombing yesterday in London where former Mayor Guiliani (the 911 mayor of NY) was CONVIENIENTLY in London not far from the explosion & the FIRST one they run too to get his comment on how the Firemen & Police in London Responded...................

Can anyone say MIND CONTROL.................!!

I'm not saying there are no black thieves in Africa, what I'm saying is that what they get/steal is not even news worthy compared to what those Oil companies and others do and give them the heads of government the crumbs that fall off the masters table as in the story of Jesus's half brother Lazurus..........

"they're not dead (the rulers of gov't in Africa) come and let us go & remove the boulder from in front of the cave and say LAZURUS COME FORTH so we can remove the blindfold from your eyes...

peace
 

militant

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Jun 21, 2005
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info-moetry said:
peace Militant,

has the UK telegraph come up with a figure on how much the Bush's have stolen since 911. As they are the one's who bought up all the airlines that were going under along with being major stock holders in the companies supplying all the war needs...i.e. tanks, weapons & whatever else....think about that the next time you hear someone say "WHY ARE OUR SOLDIERS STILL IN IRAQ".....


This sounds more like the slaves imitating their masters again in regards to taking money which is (as Brother Pan already stated) what most European (Former slave masters) have been doing since the beginning.........

so I am slow, to believe an article from the British Press that begins with "The scale of the task facing Tony Blair (Bush relative)OLOR=DarkOrange]TO HELP AFRICA was laid bare yesterday
" - as if Tony Blair has a cape on.......sounds a little too convienient for me....

- WENEVER THE UNRIGHTEOUS BRING YOU NEWS, LOOK VERY CAREFULLY AT IT............who gains from this?? all this does is allow Tony Blair to dodge more ?'s about sending aid to Africa.......

- Sounds just like the bombing yesterday in London where former Mayor Guiliani (the 911 mayor of NY) was CONVIENIENTLY in London not far from the explosion & the FIRST one they run too to get his comment on how the Firemen & Police in London Responded...................

Can anyone say MIND CONTROL.................!!

I'm not saying there are no black thieves in Africa, what I'm saying is that what they get/steal is not even news worthy compared to what those Oil companies and others do and give them the heads of government the crumbs that fall off the masters table as in the story of Jesus's half brother Lazurus..........

"they're not dead (the rulers of gov't in Africa) come and let us go & remove the boulder from in front of the cave and say LAZURUS COME FORTH so we can remove the blindfold from your eyes...

peace
Peace to you too. This post was to show that Africa does not need any of their foregin Aid. Africa does not need to be paraded and pimped on rock concerts as an object of pity. All we need is that the foreign governemnts return Nigerian money back. Did you know that all the other Arab Nations together (Saudi, Yemen, et al) has about the same amount (500billion), sitting in the Arab accounts, Not European Accounts? No wonder they are richer than African countries. Imagine how the 440 billion dollars if returned to Nigeria, could turn Nigeria around. It will turn it into a paradise beyond the likes of the Arab countries. 440 billion is by the way a sizable portion of the amount of cash Africa needs to turn itself around. I think it is only fair it is returned to.
 

info-moetry

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militant said:
Peace to you too. This post was to show that Africa does not need any of their foregin Aid. Africa does not need to be paraded and pimped on rock concerts as an object of pity. All we need is that the foreign governemnts return Nigerian money back. Did you know that all the other Arab Nations together (Saudi, Yemen, et al) has about the same amount (500billion), sitting in the Arab accounts, Not European Accounts? No wonder they are richer than African countries. Imagine how the 440 billion dollars if returned to Nigeria, could turn Nigeria around. It will turn it into a paradise beyond the likes of the Arab countries. 440 billion is by the way a sizable portion of the amount of cash Africa needs to turn itself around. I think it is only fair it is returned to.

peace,

True indeed brother Militant..............true indeed!!
 

Oba Iparankanru

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Sep 17, 2003
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Naija shouldnt have even gotten debt relief, it was 50 b in debt, the national economy is 100b, wtf hasnt it been paid off? There was a time when the naria was on par with the dollar, This is no surprise, naija should be put back on the debt roll, with 0 aid, and left to their own devices because it is soo damned corrupt it is not even funny, and if ibb is re elected, it is pretty much over.
 

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