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Nigeria On The Verge Of Bankruptcy — Emir Sanusi Drops Bombshell

Peter Okunoren

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The Emir of Kano, Muhammad Sanusi 11, on Tuesday declared that Nigeria is on the threshold of bankruptcy following unfavourable economic policies such as subsidizing petroleum products and electricity tariffs.

The former Governor of the Central Bank of Nigeria, who spoke during the ongoing 3rd National Treasury Workshop organized by the office of the Accountant General of the Federation, holding in Coronation Hall, Government House, Kano, advised President Muhammadu Buhari’s Administration to cancel subsidy on petroleum products and electricity tariffs if the economy must stabilize.

According to him: “The country is bankrupt and we are heading to bankruptcy.

“What happened is that the Federal Government do pay petroleum subsidy, pay electricity tariff subsidy, and if there is rise in interest rates, Federal Government pays.

“What is more life-threatening than subsidy that we have to sacrifice education, health sector and infrastructure for us to have cheap petroleum?

“If truly President Buhari is fighting poverty, he should remove the risk on the national financial sector and stop the subsidy regime, which is fraudulent.”

Emir Sanusi insisted that Buhari must tell Nigerians the fact about the economic situation and also act quickly on it because the nation is already bankrupt.

According to him: “Since I have decided to come here, you have to accept what I have said here.

“And please, if you do not want to here the truth, never invite me.

“So let us talk about the state of public finance in Nigeria.

“We have a number of very difficult decisions that we must make and we should face the reality.

“His Excellency, the President, said in his inaugural speech that his government would like to lift 100 million people out of poverty.

“It was a speech that was well received not only in this country, but worldwide.

“The number of people living with poverty in Nigeria are frightening.

“By 2050, 85 per cent of those living in extreme poverty in the world will be from the African continent.

“And Nigeria and the Democratic Republic of Congo will take the lead.

“Two days ago, I read that the percentage of government revenue going to debt services has risen to 70 per cent.

“These numbers are not lying.

“They are public numbers.

“I read them in the newspapers.

“When you are spending 70 per cent of your revenue on debt servicing, then you are managing 30 per cent.

“And then, you continue subsidising petroleum products and spending N1.5 trillion per annum on petroleum subsidy!

“And then we are subsidising electricity tariff.

“And maybe, you have to borrow from the Capital Market or the Central Bank of Nigeria to service the shortfall in the electricity tariff.

“Where is the money to pay salaries?

“Where is the money for education?

“Where are other government projects?”

The Royal Father lamented that for 30 years, successive governments have had this project called petroleum subsidy, insisting that this is the right time to stop it so as to save the nation’s economy.

Speaking during the workshop, the Accountant-General of the Federation, Ahmed Idris, noted: “The overall objective of the workshop is to promote accountability and transparency in all facets of the nation’s public finance and management architecture.

“It is expected that participants should appreciate that accountability and transparency remain major watchwords for prudent financial management practices and are, therefore, major prerequisite for economic growth and development.”

Idris charged participants to strive towards identifying the challenges to accountability and transparency the management of public funds, improving independent revenue base and profile of government, as well as proffering revenue diversification for governments at all levels so as to cut down the cost of governance.

In his address, the chairman of the Economic and Financial Crimes Commission, Ibrahim Magu, identified corruption as the bane of the country’s economic woes.

He warned public and private office holders to desist from corrupt practices, stating that his office has zero tolerance to corruption.

According to Magu: “Transparency and accountability are twin sisters of good governance.

“They are the tools to tackle corruption.

“It is true that we can leave a good legacy.”

Magu, however, called on the Federal and States Accountant-Generals to take the lead in the fight against corruption, adding that they must insist the right thing be done in their offices.

In his address, the Kano State Governor, Dr. Abdullahi Umar Ganduje, who was represented by his Deputy, Dr. Nasiru Yusuf Gawuna, said Kano State was the first to establish the Treasury Single Account in its bid to fight corruption and block leakages.

According to Ganduje, the state also put in place the Anti Corruption and Public Complaint Commission to checkmate corrupt practices of public servants in the state.

The Nation.

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RRS Officers Stop Armed Policemen From Taking Timi Dakolo and His Wife, Busola To Abuja

Gbemileke Ajayi

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The Rapid Response Squad (RRS) were right on time to stop Timi Dakolo and his wife, Busola from being taken by armed policemen to Abuja over allegations of criminal conspiracy, falsehood, mischief and threat to life.

Timi Dakolo had shared the letter of ‘invitation for questioning’ which according to him, came after Pastor Fatoyinbo allegedly bribed investigating officials to delay summons, and also pushed for the case to be transferred to Abuja.

However, the armed policemen were stopped from taking away the singer and his wife by RRS officers.

End SARS campaigner, Segun Awosanya tweeted that the policemen sent to “abduct” Timi Dakolo and Busola, are now under investigation.

See his tweets below:

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You Can’t Intimidate Us, We’re Ready For War —- Timi Dakolo Fires Back At Biodun Fatoyinbo

Peter Okunoren

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As Police stormed the residence of popular Nigerian singer Timi Dakolo and his wife Busola Dakolo, to invite them for questioning over the allegation they (Dakolo’s) levelled against the Commonwealth of Zion Assembly (COZA) Pastor Biodun Fatoyinbo, Mr. Timi, has said that he would not allow them (Police) to intimidate his family. Busola Dakolo and Pastor Biodun Fatoyinbo COZA Recall that Busola in an interview with an online media revealed how Fatoyinbo raped her at 16.

In view of that report, Police on Saturday visited their family (Dakolo), to invite them for interrogation. Siasia begs abductors for mother’s release(Opens in a new browser tab) From the Police letter obtained by Vanguard, the force said that they want to investigate a criminal conspiracy, falsehood, mischief and threat to life. Reacting, Timi via his instagram opined that he would never allow Police officers to intimidate his wife, children or any member of his family.

His words, “Our lawyers had told us to get ready for this letter. We have long been ready for this type of institutionalized intimidation and dirtiness. Investigating officials have frustrated as a result of underhand delay? Dirty bloggers are fabricating things that cover the truth, going to the IG’s people under dark to force this case to be posted to Abuja?

Now this: a false investigation in Abuja when our own petition filed since June has not been answered and NO INVITATION HAS BEEN MADE TO THE ACCUSED IN A RAPE CASE????! NOT ONE MOVEMENT TOWARDS JUSTICE??? Rubbishing the legal and criminal system? Father accused of sexual assault on 3 daughters remanded in prison(Opens in a new browser tab) And sending a bus load of questionable armed “policemen” and shady men lying in wait to intimidate my wife and children today, forcing their way into my home?

Is that how the REAL police delivers a letter? This is best you can do? This is why all the hurting women and families haven’t come out with HORRIBLE THINGS DONE TO THEM???!!

You picked the wrong one and you picked the wrong time. Nigerians are more awake than you think. I will fight for my wife and my children -it’s the promise I made with my life and one I intend to keep I will defend them from the unrelenting attack of a weak man who thinks he can use money and power to cover for all of his crimes. Like I said, we have since been ready. GIVE US THE FIRE, THEN WATCH ME WORK!”.

Vanguard

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BREAKING: Police Invite Timi, Busola Dakolo Over Alleged Falsehood, Criminal Conspiracy And Threat To Life [Letter Attached]

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The Police on Saturday invited soul singer, Timi Dakolo and his wife, Busola, a celebrity photographer, for interrogation over alleged falsehood.

The invitation letter, which was delivered at the Lekki residence of the Dakolos around 6pm, may not be unconnected with the allegation of rape by Busola against the founder of Commonwealth of Zion Assembly (COZA), Pastor Biodun Fatoyinbo.

Busola had alleged Fatoyinbo raped her at 16 in Ilorin while attending his church.

The allegation led to the stepping down of the flamboyant Abuja-based preacher pending the conclusion of the investigation.

The invitation letter signed by Deputy Commissioner of Police IGP Special Tactical Squad Force Headquarters, Abuja asked the couple to report for interrogation on Tuesday by 10am.

The couple was accused of “criminal conspiracy, falsehood, mischief and threat to life.”

There was drama during delivery of the invitation letter as the couple raised alarm with the social media awash with the alleged invasion of their private residence by police operatives.

Calls to Police spokesman Frank Mba were not answered or returned.

But a police source confided the Police authorities will issue a statement shortly on the matter.

Details shortly…

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