Fawejinmi:Â Do you remember the no-nonsense human right activist Nigeria ever produced, Chief Gani Fawehinmi, he was a torn in flesh of military regimes except Muhammadu Buhari whom he supported supported to fight against corruption between 1984-85.
Gani’s First son, Muhammed Fawehinmi who is a lawyer like his father is about stepping into the shoes of his father left behind to fight against the rots in the system.
His first salvo is against the presidential candidate of PDP, Atiku Abubakar whom he been his searchlight on when he was the Vice-President and Chairman of Bureau of Public Enterprice (BTE).
READ THIS REVELATIONS ABOUT THE ROLES PLAYED BY ATIKU ABUBAKAR IN THE SALES OF NIGERIA’S PUBLIC ASSETS;
Muhammed: This is how ATIKU became the “acclaimed†business man he is today. Please I do not have any partisan political agenda, rather factual report on ATIKU as a Presidential aspirant in Nigeria.
Please any or all ATIKU supporters or his campaign structure are free to deny these submission with facts not sentiments.
“As Head of National Council on Privatization (NCP), from 1999, @atiku dug Nigeria’s economic grave for today’s extreme poverty and unemployment.
There were over 600 federal assets when @atiku’s NCP started selling.
Atiku should tell us who bought what and what was left for the country when he left power.
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Nafcon
Eleme Petrochemical
Daily Times
Ughelli Power
Egbin Power
NICON Insurance
ALSCON
Transcorp Hilton Hotel
NICON Luxury Hotel
Sunti Sugar Ltd
NetCom House
Bacita Sugar Ltd
MM2
NITEL
In 2007, Onigbolo Cement operating at 500,000 tonnes per annum was sold to Dangote at N1.7Bn
To those selling Atiku, let me remind you of @NGRSenate public hearing of August, 2011 which succinctly captures how @atiku through retinue of cohorts, fronts, shell companies, ring fenced over 70% of FG’s assets through a brazen daylight robbery privatization that he supervised.
This is nothing sensational. Its real life facts and all the Senators are alive today.
The 2011 privatization Senate committee was made up of Senator Ahmed Lawan – Chairman, Senators Babafemi Ojudu, Philip Aduda, Mohammed Ndume, Ifeanyi Okowa, Hope Uzodinma and Mohammadu Magoro.
Lets look at Aluminium Smelting Company, ALSCON, that Atiku privatized.
ALSCON which Nigeria built with $3.2 billion, was sold to a Russian firm, Russal, for $130million. As of the time of sale, ALSCON had received $120million for the dredging of Imo River, but was never done.
When the Senate Seating of August, 2011 asked the Russian company the whereabouts of the $120million dredging money, the company’s Deputy Managing Director, Vitaly Kuzrestov, said that the money has been used for Environment Impact Assessment.” EIA kill you there.
FG’s Five percent share in Eleme Petrochemical worth USD27 million was never presented to at the National Council on Privatization before it was sold to Indorama.
Indorama recovered this amount selling Polyethylene and Urea to the entire west Africa sub-region in just 14 months.
The Atikulate Business Theory: Sell to yourself Government assets that leaves millions in penury, to set up personal businesses that provides for a few. @Atiku didn’t employ the few hundreds he employed because he likes them, he needs them to work to preserve what he took from Government.
Fam, the business acumen of Atiku you are bandying about is smelly.
A man who supervised sales of over 145 federal investments as a vice president, without a thought for today wants to be president.
He didnt revitalize them. He didnt resuscitate them. He sold them to whomever.
Below is a summary of the 2011 senate investigation report.
A summary of Atiku’s exploits as the Chairman of National Council of Privatization (NCP) and El rufai as the DG of Bureau of public enterprises (BPE), Nigeria’s Assets fell into the sinister hands of waiting carnivores who devoured our collective destinies for 5yrs, under Atiku’s reign as NCP chairman, Nigeria was held hostage, thoroughly stripped, beaten and milked dry of its fortunes in a once in a lifetime scam called Privatization and concessioning.
Under Atiku’s watch, Vaswanis cheated Nigeria by short-circuiting due process, under a company called Avolon, to acquire Germany’s 51 percent in Volkswagen. According to presidency sources, it was a breach of the pre-emptive rights of the Federal Government of Nigeria stated in section 151 of the Companies and Allied Matters Act 1990.
Atiku liquidated NAFCON in 2005 for the sole purpose of selling it to O’Secul Nig Ltd owned by his fellow con artist James Ibori for $153m Thank God for Notore that later pushed out Ibori to bring that company back to life.
The BVI, however, had their reason. The National Council on Privatisation was aware of the under-hand deal. In a letter dated August 25, 2005, Atiku Abubakar, former Vice-President and Chairman of the NCP, was informed by the Bureau of Public Enterprises, under Irene Chigbue, to waive Nigeria’s pre-emptive rights to acquire the 61 percent shares of the German partners.
While Abubakar knew then that the Vaswanis had been banished from the country, he blinked over the BPE request.
Despite knowing Jimoh Ibrahim forged documents and a Memorandum of Understanding, MOU, which he used to acquire 70 percent of the National Insurance Company of Nigeria, NICON eventually was liquidated after The total assets taken out of the company either directly or through companies wholly owned and controlled by Jimoh Ibrahim and not properly accounted for amounts to N6.37billion.
Delta Steel which was set up in 2005, at a cost of $1.5billion, was sold to Global Infrastructure for just $30million without bidding, Atiku said it is in the best interest of Nigerians grin grin
Atiku ignored all recommendations from BPE and due process—to sell Delta Steel Company to Global Infrastructure instead of the winner of the bidding process, BUA Group.
In fact Oby Ezekwesili attained celebrity status when she insisted due process must be followed to curb Atiku and obj’s excesses, she was later nick named Madam due process.
ALSCON, was set up with $3.2 billion, Atiku sold it to a Russian firm, Russal, for a paltry $130million.
ALSCON had been given $120million for the dredging of the Imo River, but it was never carried out, Russal and Atiku disappeared with the money, Igbos are complaining about dredging the River Niger, but they have short memory that the ALSCON deal was supposed to dredge the Imo river, Imo river is easier and more economically viable than Niger river because it flows into the Forcados River a major tributary of the river niger.
Atiku and Russal disappeared with the money till date.
APC, a colossal failure and disgrace, I regret joining it – Atiku Abubakar
Atiku literally dashed DAILY TIMES of Nigeria, to the Anosike brothers (Noel and Fidelis) according to court records, Atiku did not privatize Daily Times in the true sense of the word, Daily times assets worth over $3b was used to secure a mortgage that paid for the take over, in other words Atiku packaged Daily times to sell and buy itself, once her assets was stripped, Atiku took off with Anosike brothers to the next unlucky company.
How did Bluestar consortium take over the Kaduna refinery under Atiku’s privatization? where is the $250m they paid at the time? the then CBN Governor swore an affidavit Nigeria did not get alert, grin grin grin.
An asset of the state sold while the money just vanishes, just like that? Atiku truly broke a record.
How did SOLGAS company, headed by a 36 year old Seun Oyefeso, without the requisite expertise nor technical know how, took control of Ajaokuta steel, stripped its assets before OBj cancelled the deal, meanwhile Atiku has already swollen his tommy with the much Ajaokuta assets they could sell. Fear Atiku!!
Oh!! the story of Sadiq petroleum and Atiku overnight take over of African petroleum, thank God for yaradua, Atiku finished this country, only a child will bother about Atiku.
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Then the Almighty Pentascope scam, Atiku and Midget El Rufai executed the highest fraud in human history,
The first group that came calling and qualified to buy NITEL was IIL (London) Ltd.; they could not purchase the company.
Then Nasir El-Rufai and Atiku brought in PENTASCOPE from the Netherlands. The controversial body was said to have its HQ in an abandoned church in London meaning, no official office address.
Amazingly, PENTASCOPE was given a carte blanche to spend the monies of NITEL without paying for NITEL first, they cleared its offshore foreign currency savings.
A company that was actually a national strategic institution has not recovered from PENTASCOPE; or from TRANSCORP and other efforts to sell BY FORCE! In the meantime, Nigeria became a country where telephone landlines disappeared from homes and offices, just as the assets of NITEL that have not been stolen, have continued to rot, as our empty-headed ruling elite cling to the litanies of the church of privatization, as their route to the heaven of capitalist development!
Atiku’s Intels and Orleans after successfully taking over all our oil and gas free trade zones, in the document between NPA and Intels in 2005, referred to as the Consolidated Lease.
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OGEFZA unilaterally and/or illegally altered its name to read – OIL AND GAS FREE ZONES AUTHORITY. The word “Export†was deliberately deleted and the word “Zone†was deliberately pluralised in direct contravention of an extant Act of the National Assembly without a formal amendment of same as required by law, OGEFZA purported to exercise powers reserved for the President under the NEPZA Act by designating Warri, Calabar and Apapa as Free Zones in favour of Atiku’s Intels/Orlean Invest
There was allegations of Massive fraud against OGEFZA as regards NPA remittances, While the committee that investigated those fraud insisted that payment of the money into commercial banks rather than the CBN was a violation of section 19(1) of the BPE Act,
There are major lapses in the retirement of advances, charges made by the project commercial bankers are deemed excessive and inconsistent, interests have not been credited on special account balance, expenses are incurred because no-objection was sought from the bank. Till date those fraudulent accounts was never audited.
The fear of Atiku Abubakar in Nigeria is the beginning of wisdom.
Muhammed Fawehinmi
Culled from NAIRALAND – NOVEMBER 11, 2018
www.sojworld.com (c) November 24, 2018
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