I Only Got N39 Billion From Fraudulent Malabu Deal- Etete Tells British Court-PREMIUM TIMES

Dan Etete

By Nicholas Ibekwe

In a desperate attempt to muddle-up facts, convicted felon, Dan Etete, has told a British High Court that he is not the owner of Malabu Oil and Gas and thus not the recipient of the whole $1.1 billion (N173 billion) fraudulently transferred to Malabu by the Goodluck Jonathan administration. The money was paid by oil giants, Shell and Eni, through the federal government, to Malabu.
Mr. Etete, a former minister of petroleum, told the court, in a testimony he gave on a breach of contract suit brought against him over the sale of the controversial oil block OPL 245, that he only made N37.5 billion ($250 million) working as a consultant for Malabu, the Economist is reporting.
PREMIUM TIMES had reported how Mr. Etete is the sole signatory into the bank accounts that the federal government paid about $800 million (N126 billion) of the oil bloc sale into.
However, Mr. Etete, who was convicted for money laundering in France in 2007, immediately contradicted himself in the same testimony when he admitted to being the sole signatory to Malabu’s account and couldn’t provide any evidence of other shareholders.

EXPOSED! How Jonathan and Alamieyeseigha Looted Bayelsa [Plus More]

In Bayelsa State, the state of President Goodluck Jonathan, and former governor Diepreye Alamieyeseigha who was convicted and pardoned by Jonathan, the state government planned upgrading of 5 secondary schools to boarding schools, N2billion was budgeted in 2012 and N135million  in 2010. We paid a visit to Sagbama, Kaiama, Nembe and Ogbia. No Upgrade was done!

The revelations are quite disturbing. Continue to see more:

Power sector reform: Stakeholders lament non-openness of bidding process

Introduction
The much anticipated power sector reform aimed at repositioning its the critical sector to more transparent, efficient and cost-effective was thrown into disarray when preferred winners for 10 electricity distribution companies were announced by the Technical Committee on privatisation, last week. 

     In 2010, President Goodluck Jonathan announced plans to break the Power Holding Company of Nigeria (PHCN) into 18 successor companies which include 11 distribution companies, six generation companies and one transmission company. He also set a target of 20000 megawatts  by the year 2020.

How the preferred winners emerged

Many of the companies involved in the bids have little or no power sector experience. Several others were backed by powerful political interests but have technically capable partners. The distribution companies which are responsible for delivering electricity to end-users and collecting

Nigerian Government Broke; Targets Pension Savings

The Nigerian government is financially broke and barely able to pay its bills, an investigation by SaharaReporters has revealed. The portrait of the Nigerian government’s dismal financial situation is in sharp contrast to recent propaganda by Nigeria’s Finance Minister, Ngozi Okonjo-Iweala, and Central Bank governor, Sanusi Lamido Sanusi. Both officials have sought to depict the Nigerian economy as vibrant and robust.

FINALLY!!! Bola Ahmed Tinubu’s Daughter, Folashade Tinubu-Ojo Succeeds Bola Ahmed Tinubu’s Mother As Iyaloja General

The late Alhaja Abibatu Mogaji 

Controversies over the successor of the late Alhaja Abibatu Mogaji have been laid to rest as the Oba of Lagos, Oba Rilwan Akiolu, has installed Mrs. Folashade Tinubu-Ojo, as the new President-General, Association of Nigerian Market Women and Men.

Tinubu-Ojo is the daughter of former governor of Lagos State and National Leader of the Action Congress of Nigeria, ANC, Asiwaju Bola Tinubu.

Ex-Gov Oni must be probed, Fayemi insists

Former governor of Ekiti State, Engineer Segun Oni is not yet off the hook as the state government has reiterated its plan to probe him over alleged malpractices that rocked his administration.  This is contrary to reports in some national dailies yesterday that the incumbent governor, Dr Kayode Fayemi has jettison the idea of probing him.

The Commissioner for Information and Civic Orientation, Mr. Tayo Ekundayo, who gave the clarification yesterday in his office, said there was misperception of his earlier statement made during the village square meeting on Thursday at Efon.

Gov Akpabio Fires 3 Of His Stewards Over Missing $250,000 (N40m) In His Abuja Bedroom

Culled from SaharaReporters

Three stewards working in the Akwa Ibom state governor's lodge in Asokoro, Abuja were on Friday summarily dismissed by the governor, Godswill Akpabio, over missing bundles of mint fresh dollars valued at over  $250,000 (N40 million) kept in the governor's bedroom.

The governor who reportedly issued the instruction to dispense with the services of the political appointees personally found out on Wednesday during his visit to Abuja that four bundles of the foreign currency he left in his bedroom had been stolen while he was gone to a dinner with President Goodluck Jonathan at the Aso Rock Villa.