LABARI

Emir of Kano, Sanusi Lamido. "We did not have money. Oil prices had collapsed. Niger Delta Avengers were blowing up oil wells. The scarce dollars we had, we were selling cheaply, subsidizing people. What was the argument? We need to promote manufacturing. Right? Thank you. But, what percentage of your GDP is manufacturing? Eight percent. Let me ask you Commissioner, you are a manufacturer, you are able to secure $10 million from the Central Bank to import raw materials and produce goods, you spend N2 billion to get $10 million, and somebody says to you: “Listen, I will pay you N3 billion for this $10 million, so that you make a profit of 50 per cent for just doing nothing. Just buy the dollars and sell.” Your option is to buy raw materials, establish a letter of credit, import raw materials, maintain generators, buy diesel, pay labour, produce your goods, take the risk you may not sell at a profit, transport it, or to make a profit margin of 10 per cent over a 120 term period,...

BREAKING NEWS: I Collected N500m From Dasuki As Xmas Gift To Journalists - Reuben Abati. Former Special Adviser on Media to ex-President Goodluck Jonathan, Reuben Abati, has allegedly confessed to collecting N500million from former National Security Adviser, Col Sambo Dasuki Abati was picked up by EFCC personnel on Monday, October 24, 2016 and has been kept indefinitely by the anti-graft agency pending the conclusion of interrogations. The former Presidency spokesperson has been accused of receiving the sum of N500million from erstwhile National Security Adviser (NSA), Sambo Dasuki. Dasuki is in custody of federal law enforcement authorities after allegedly misappropriating over $2.2billion earmarked for equipping the military. Former National Security Adviser Sambo Dasuki (R) allegedly oversaw a sprawling embezzlement scheme that saw “phantom contracts” awarded for personal gain while under-equipped troops fought better-armed militants. “Abati has admitted to receiving N500mi...

Why We Arrested Reuben Abati – EFCC Opens Up. The Economic and Financial Crimes Commission (EFCC) has given reasons for the arrest of former presidential spokesperson, Reuben Abati. The commission said that it invited Abati to its headquarters in Abuja to explain his role in an alleged mismanagement of Nigeria’s money during former President Goodluck Jonathan administration. The EFCC said Abati “honoured an invitation by the EFCC at the agency’s headquarters in Abuja. He is telling operatives of the commission his role in the alleged mismanagement of resources through his office. We shall keep you posted.” An EFCC operative said the specific reason Abati was invited, saying “it has to do with the ONSA [Office of Nation Security Adviser] money.”

PDP Killed Alameiseigha‎, My Husband - Magareth Alamieyeseigha Mrs. Magareth Alameiseigha, the widow of the First Executive Governor of Bayelsa State, Late Diepreye Solomon Alameisegha, yesterday exonerated the leadership of the All Progressive Congress (APC) from the events which led to the October 2015 death of her husband. According to Mrs. Alameiseigha, though the events leading to the last year death of her husband sparked off controversy between the PDP and APC ahead of the Governorship election, the killing of her husband started with his removal from office,arrest,trial and seizure of owned properties under the leadership of the PDP. Mrs. Margareth Alameiseigha, the widow of former governor of Bayelsa state, Late Chief D.S.P Alamieyeseigha, while speaking with news men during the First Year Anniversary of his death, said ‎the controversy surrounding the death of her husband was not necessary, ” the PDP that frustrated and sent her husband to his early grave an...

Former Minister of State (Defence) Musiliu Obanikoro has implicated Governor Ayodele Fayose in the probe of the N4.745billion wired to a company by the Office of the National Security Adviser(ONSA). The cash was wired to Sylva Mcnamara, which has been linked to Obanikoro within seven months in 2014. Sen. Obanikoro said of the cash, N2.23billion was transferred to Fayose. He handed Fayose $5,377,000 in cash and N1.3billion was received by the governor’s associate, Mr. Abiodun Agbele. Obanikoro admitted that the N1.3billion was flown to Akure airport in two chartered flights for delivery to Agbele. The money was sourced from the $2.1billion meant for arms purchase at the ONSA. Obanikoro told Economic and Financial Crimes (EFCC) detectives that he is not the owner of Sylva Mcnamara that was used to transfer the funds to Fayose. But he defended why the money was remitted to Mcnamara. Part of the reason is the warding off of a plot by Boko Haram to attack Lagos, he claimed. Accompa...

Saudi prince executed for murder. Saudi Arabia today (Wednesday) executed a member of the royal family for murder, in a rare case involving one of the thousands of members of the House of Saudi. Prince Turki bin Saud al-Kabir was put to death in the capital Riyadh for shooting dead Adel al-Mahemid, a Saudi, during a brawl, the interior ministry said in a statement. Kabir was the 134th local or foreigner put to death this year, according to an AFP tally of ministry statements. The Arab News reported in November 2014 that a court in Riyadh sentenced an unnamed prince to death for killing his friend. He lost his life and another person was injured in an exchange of gunfire following a dispute at a camp on the edge of Riyadh in December 2012, the newspaper said. Desert camps are popular gathering places for Saudis. When the killer realised that his victim was a friend and colleague, he informed the police, the Arab News said. The sentence reflected the kingdom’s “fair justice sys...

11 “sins” Of Ex-president: To Those Condemning Buhari Because Of Jonathan. Sixteen months since the inauguration there is increasing disappointment that President Muhammadu Buhari has not delivered on his lofty promises. Some Nigerians consider that Goodluck Jonathan was so far a better president than Buhari. I am surprised that informed Nigerians will take it upon themselves to spread the kind of information they are spreading about Muhammadu Buhari which can rarely be proven. Most of those spreading the rumours are either too young to know or remember what happened yet they passionate disseminate distorted information. Worse still they are creating a comparison between the military rule of over 30 years ago with the civilian rule that started six years ago! To save you the stress of verification, most of what will be brought up are things you also remember so well. The facts are there and you can check them out or simply deny them. 1. It was under Jonathan’s watch that $20 billi...