RICH ADETULE IMPERIAL==MANY IGBO RESILIENT BUSINESS DATE STARTED OVER 60 YEARS OLD FROM NIGERIAN INDEPENDENCE DESPITE WAR DESTRUCTION AND NIGERIA AUSTERITY ECONOMY ARE STILL WAXING STRONG==

[Africa Today]

RICH ADETULE IMPERIAL==MANY  IGBO RESILIENT  BUSINESS DATE STARTED OVER 60 YEARS OLD FROM NIGERIAN INDEPENDENCE  DESPITE WAR DESTRUCTION  AND NIGERIA AUSTERITY  ECONOMY  ARE STILL WAXING STRONG==

AT LEAST 10 IGBO BUSINESS I KNOW THAT HAVE OPERATED SINCE 60 YEARS AGO AND THERE ALL STARTED OVER 60 YEARS AGO. MANY OF THEM I AM SOURCES OUT BUT SEE MANY OF THEM OVER 60 YEARS OLD HERE.

On Nov 17, 2015, at 1:32 PM, Imperial <imperi...@yahoo.com>

. There is no popular Igbo business that has exceeded 40 years to date  . If you know any please name it . 

===============================================

Imperial:

You are so insecure. All it takes to wheel you out is a mere call. Imagine when people start streaming names, what would you do? You gotta learn when to shut and put your tiny dick away;  no one interested in measuring dicks with you. 

Sent from my iPhone

Ejo ni Mushin - Prince 

================================

RICH ADETULE IMPERIAL,

SEE LINKS  BELOW OF FINANCIAL TIMES OF LONDON HAVE DONE AND WRITTEN STORIES ABOUT IGBO BUSINESS IN ABA, NNEWI AND ONITSHA THAT ARE WORKING HARD TO SURVIVE FROM THE DESTRUCTION OF THE WAR AND NIGERIA ECONOMIC  MEASURES TARGETING IGBOS. SINCE 60 YEARS AGO.

DEBUNKING RICH ADETULE IMPERIAL DATES OF  IGBO BUINESS OPERATING OVER 60 YEARS OLD AT NIGERIAN INDEPENCE BOTH ECONOMIC AND POLITICAL INDEPENCE IN 1960 FROM BRITAIN BUT SURVIVED THE WAR AND NIGERIAN ECONOMIC MEASURE AND BLOCKAGE AGAINST IGBOS..

========================================

RICH ADETULE IMPERIAL

IF YOU WANT TO KNOW ABOUT IGBO BUSINESSES THAT HAVE STAYED MORE THAN 60 YEARS OLD IN NIGERIA DESPITE THE WAR DESTRCUTION AND SETBAK  HERE ARE SOME OF THE LISTS OF  IGBO BUSINESS OVER 60 YEARS OLD AND THEIR DATE THERE STARTED OPERATION AND STILL GOING AND THESE BUSINESSES HAVE BEEN TAKEN OVER BY THEIR WELL EDUCATED CHILDREN AND NEW GENERATION IGBOS IN THE FAMILIES ARE NOW EDUCATED. THE FINANCIAL TIMES OF LONDON IN THE LINK BELOW WROTE 2 STORIES WITH LINKS AND STORY BELOW OF HOW SOME IGBO BUSINESS FROM THE 50S AND 60S SURVIVED  THE WAR AND HOW MANY DID NOT SURVIVE.

RICH ADETULE IMPERIAL,

FIRST OF ALL NO NIGERIA OWNED BUSINESS IS OVER 60  YEARS OLD, BECAUSE WHEN NIGERIA WAS UNDER BRITSH CONTROL OF SOUTHERN AND NORTHERN NIGERIA  FOR OVER 1140 YEARS FROM 1870  AND AFTER THE AMALGAMATION AND JOINING OF NIGERIA NORHT AND SOUTH IN 1914. NIGERIA UNDER BRITISH ECONOMIC CONTROL AND POLITICAL CONTROL WAS OVER 140 YEARS. THERE WAS NO FREEDOM TO OWN OR OPERATE ANY BUSINESS. BESIDES NIGERIA WAS TOO PRIMITIVE 120 YEARS AGO= NO ROAD NETWORK, NO HIGHWAY, NO TELEPHONE AND NO COMMUNICATION. THERE WAS NOTHING LIKE BUSINESS. DANTATA BUSINESS AND THE REST OF NIGERIA NORTH AND SOUTH WHERE JUST PRIMITIVE AFRICANS WITH NO HISTORY OF COMMERCE EXCEPT SLAVE TRADE, WAR AND KILLING FOR RELIGION AND TRIBES. STILL TODAY DANTATA FAMILY BUSINESS IS A WELFARE BUSINESS. DANTATA FAMILY ARE OWING AND LOOTING BANKS WITH THEIR MILITARY AND CALIPHATE CORRUPTION. DANTATA AND DANGOTE BUSINESS ARE ALL WELFARE, SUBSIDIES AND TOTAL 100% GOVERNMENT LOOTING BUSINESS LIKE YORUBA LOOTING BUSINESS ALL ON WELFARE. YORUBA CANNOT RUN BUSINESS.

REAL NIGERIAN OWN OPERATED BUSINESS BECAME FREE AT  INDEPENDENT WHEN DR. AZIKIWE AND CHIEF AWOLOWO TOOK OVER NIGERIA WHEN BRITISH WHERE ABOUT TO LEAVE AND DR. AZIKIWE WAS MADE GOVERNOR GENERAL AND CHIEF AWOLOWO WAS MADE PREMIER FROM 1956. NIGERIANS STARTED FEELING FREE AND INDEPENDENT FROM 1956 ON ITS WAY TO GETTING FINAL INDEPENCE IN 1960.

SO  NIGERIA POLITICAL AND ECONOMIC FREEDOM STARTED IN 1956.

THE BRITISH BEFORE INDEPENENCE WAS IN TOTAL CONTROL OF NIGERIA POLITICAL AND ECONOMIC CONTROL AND THATS WHY NIGERIA LABOUR UNION IN LAGOS AND WESTERN REGION WAS FIGHTING FOR FREEDOM FOR NIGERIA, THATS WHY ENUGU COAL MINERS  WAS FIGHTING THE COLONIAL MASTER IN 1940 FOR THEIR RIGHT S AND MANY IGBO WERE KILLED IN ENUGU IN 1940 ENUGU COAL MINERS CONFLICTS, THATS WHY ABA AND OWERRI WOMEN WAS FIGHTING THE COLONIAL AUTHORITIES OVER STRANGULATING TAXATION ON BUSINESS CONTROL IN THE ABA WOMEN RIOTS OF 1930S.

NIGERIA AND IGBO BUSINESS ACTUALLY STARTED IN 1956

The post-war era witnessed many successes especially amongst Igbo business men who despite the trauma and losses still managed to build large enterprises relying on self-help. Chief Augustine Ilodibe was easily Nigeria's biggest transporter with his Ekene Dili Chukwu transport business. There were others that built large scale contracting and construction enterprises such as Chief R.O. Nkwocha, Chief D.O Nkwonta and Chief F.G.N Okoye, all from Enugwu-Ukwu. Others thrived in industry and real estate such as Chief John Anyaehie, Chief Nnana Kalu, Chief Ferdinand Anaghara, Sir Louis Odumegwu-Ojukwu and Chief Onwuka Kalu. As a result of the civil war, and who had been apprenticed to a master ( the late Chief OkaforMang) to learn trading, attracted great attention in a community that boasted so many great men of wealth such as Chief Nnanna Kalu, Chief Okafor Mang, Chief Nwojo Omokorie, all of blessed memory.The young man’s name was Dike Udensi Ifegwu. He was 24 years old. He had just built a two storey building of six flats, but was still living in two rented rooms.The community took note. In the next four years, he committed his mind and soul to large scale importation and distribution of various goods, attracting the attention of the big four banks then: Union, First, U.B.A and Afribank. At the young age of 30 in 1981, of the over 20 factories established by Abiriba people in Aba, he alone owned three namely: Dubic breweries (brewers of Dubic Beer), Dubic Industries and Unijoy Paper Mills.At the age of 39, in 1990 he was majority shareholder in two banks: Alpha Merchant Bank and Citizens International Bank, where he was Chairman. As Chairman of Citizens International Bank, he conducted meetings with precision, candour and understanding. During meetings, he ensured every member voiced his opinion on any item on the agenda.He never interfered with management on any issue, not even employment.  I was always amazed as to how somebody who did not go beyond class one in secondary school, could understand basic principles embodied in a financial statement.  He will ask questions or seek clarifications on such accounting principles like accruals, depreciation and amortization.  His understanding of risk assets was beyond the ordinary.It is to his credit that during his tenure as Chairman of Citizens bank, the bank was the most profitable among the new generation banks.Lord Chief Dike Udensi was a pioneer in many ways. He was known to be the first Nigerian to solely establish a brewery that produced Dubic Beer. Guiness Nigeria is reaping bountifully from the brand today. In 1991, he joined others to establish a bank in Benin Republic called Banc Internationale du Benin, where he was made a Director. As early as 1993, he teamed up with Jimi Lawal to buy the 40% shares of Banc Internationale Afric Occidentale in Afrikbank. This would have made him the highest shareholder and owner of Afribank.

Those that focused on commerce (import and export) thrived as well, such as Chief G.E Chikeluba and his partners at the GMO Group AND MANY MORE IN HUNDRED AND THOUSANDS BIG AND SMALL. MANY DIED BECAUSE OF THE WAR EFFECTS AND NIGERIA IGBO FACTORS AFTER THE WAS AND MANY SRUVIVED AND TAKEN OVER BY THEIR EDUCATED FAMILIES.

============================================

NANNA KALU BUSINESS OVER 60 YEARS AND RUNNING. In 1958 Chief Nnana Kalu started his business in general business IMPORTS AND TRADE and goods transportation in Aba and Portharcourt which made him a multi millionaire. He also built a paper manufacturing  mill plant in Aba to manufacture text books, printing, publishing, and toilet papers and it is still active till today as ABA STAR PAPER MILL industry run by his children IN ABA IN ABIA STATE AND THEY ARE INTO MANY OTHER BUSINESS LIKE THEIR FATHER.

=========================================

http://amazoil.co.uk/home/

The Amazu Family business COGLOMERATE

The Group‘s roots date back over 60 years, originating in the transport sector in 1949. Since then the business has expanded from haulage to passenger transport and introduced petrol stations on its key transport routes before forming Amazoil in 1974. In 1981, Amazoil Nigeria Ltd was initiated to market petroleum products and fund a regular bulk purchase of 35 million litres of petroleum throughout Nigeria. From the mid 1980’s the group diversified again into quarrying, property and hotel businesses as well as acquiring shipping and airline licenses.

In 2000, following Nigeria’s return to democracy, Sir Og Amazu, now CEO of The Amazoil Group, moved back from the UK and formed WOTCO to trade oil products internationally.

Since then Amazoil has developed from a product based organisation into a strategic stronghold providing solutions for African and International businesses requiring global connections and local knowhow respectively.

In 2003 Og married Joy Dafinone, a chartered accountant with the ICAEW and ICAN. Having previously worked for KPMG UK and becoming a partner at Horwath Dafinone, her experience would, three years later, provide the financial backbone to The Group and in 2006 help form The Gate.

Sir Og Amazu and Lady Joy Amazu now work with selected worldwide trading houses including Glencore who Og has represented since 2008.

The Amazu Family

Although international, The Amazoil group has been a family business since it’s incarnation as a transport company in 1949 by Sir Lawrence C. Amazu. This family structure has meant that The Group has never lost sight of the importance of relationships at the core of its business both internally and through the service it provides to clients.

The Group currently employs over 250 people, many from the same family and in some cases more than one generation work together for Amazoil.

Amazoil is now managed by Sir Og and Lady Joy Amazu who have focussed on both growing and sustaining the communities that support The Group.

They have scaled up Amazoil’s relationships & partnerships to include the private offices of high profile high net worth individuals, nominated advisers and the investment arms of local and international banks to create a respected and client focussed consultancy within the emerging markets of Africa.

Today, the Amazu family travel between their Nigerian head office and their base in London, running one of the most successful businesses in Africa.

NIGERIA

Amazoil Group

Melrose Office Suites
26E Abdulrahman Okene Close
Off Ligali Ayorinde Street
Victoria Island
Lagos
Nigeria
T: +234 (0)1 580 3059
F: +234 (0)1 580 3657
E:  in...@amazoilgroup.com

OGB Chi Di Ebere
Transport ltd

20 Ikorodu Road
Jibowu Yaba
Lagos
Nigeria

Registered Office

20 Uzuakoli Road
Umuahia
Abia State
Nigeria

lC Concrete ltd

Toge Village
By Kuje Junction
Off Airport Road
Abuja
Nigeria

LONDON

Amazoil Group

42 Berkeley Square
London
W1J 5AW
T: +44 (0)207 409 5058
F: +44 (0)207 409 7369

==========================================================

PIONEERS OF IGBO ENTRANCE INTO TRANSPORTATION AND AUTO PARTS BUSINESS AND DATE STARTED

(1) LOUIS PHIILIP OJUKWU TRANSPORT COMPANY STARTED 1950==STILL OPERATING

(2) C. MOORE OBIOHA TRANSPORT COMPANY STARTED 1954=DIVERSIFIED OPERATING

(3) EKENE DILICHUKWU TRANSPORT COMPANY STARTED 1955 ==STILL OPERATING

(4) IZU CHUKWU TRANSPORT COMPANY STARTED 1955==STILL OPERATING

(5) ANYAEHIE TRANSPORT CO. 1959

(6) NEW TARZAN MOTORS

(7) CHIDIEBERE TRANSPORT COMPANY

(8) UHURU MOTORS== STILL OPERATING DIVERSIFIED

(9) EKESON MOTORS STARTED 1980 === STILL OPERATING

AND WORKED FOR MOORE OBIOHA FOR MANY YEARS BEFORE HE STARTED HIS OWN COMPANY. ETC,

(10) UDOYE TRANSPORT COMPANY AUKWUNANNAW ENUGU

(11) DESTINY MOTORS EMENE ENUGU ETC.

(12) Michael Emerah== STILL OPERATING

(13)  PN EMERAH== STILL OPERATING

AND MANY MORE BIG TIME TRANSPORTERS NOT NAMED HERE WHO WERE

PIONEERS OF TRANSPORTATION AND AUTO PARTS DEALERS BUSINESS IN NIGERIA.

THEN THOUSANDS OF IGBOS FOLLOWED INTO THE BUSINESS AND ARE DOMINANT TODAY

 ===========================================

http://www.abctransport.com/

Associated Bus Company Plc, operators of ABC Transport commenced operations in road passenger transport in February 13, 1993 as an off-shoot of Rapido Ventures Limited in Owerri with an authorized share capital of N1, 000,000. The authorized and paid up share capitals have since been increased to N800million. Fashioned with a view to running a modern road transportation system in Nigeria with international standards, the company is ably managed by a team of time-tested professionals with excellent track records in their chosen fields. Supporting the management team is a Board of Directors composed of men of integrity whose diverse backgrounds serve as a rich resources base for the company�s policy formulation and overall business perspective. Its services are specifically designed for discerning travelers. The operations in Nigeria is carried out in modern terminals, with comfortable lounges in various cities like Lagos (Jibowu, Oshodi, Amuwo-Odofin) Aba, Owerri, PH, Abuja, Enugu, Okene, Onitsha, Umuahia, Mbaise Jos. ABC buses are dubbed with the company�s trademark � the Reindeer.

Mr. Frank Nneji, OON Is the Managing Director and Chief Executive Officer. He founded the Company in 1993. He also is the Chairman of ABC Express Courier Limited, a subsidiary of ABC Transport Plc. A 1982 graduate of Biological Sciences of the University of Nigeria , Nsukka, he passed through the Chief Executive Programme of the Lagos Business School (LBS), Nigeria , and Wharton Business School , USA

==================================

Road Transport Entrepreneurs and Road Transportation Revolution in Igboland, 1920-1999: A Case Study of the Nnewi Igbo of Nigeria Ajaegbo, D. I. Ph.D. Department of History & Strategic Studies Federal University, Ndufu-Alike Ikwo P. M. B. 1010, Abakaliki, Ebonyi State E-mail: donaa...@yahoo.com; donaa...@gmail.com GSM: +2348187788580

http://afrrevjo.net/journals/multidiscipline/Vol_7_no_4_art_10_Ajaegbo.pdf

The Emergence of Nnewi lead and other Igbos indigenous road transport entrepreneurs

Vol. 7 (4) Serial No. 31, September, 2013 Pp.162-173

The Igbo embraced motor transport industry in the 1920s. They were preceded in this enterprise by the Yoruba of western Nigeria and the Ibibio and Efik of Eastern Nigeria. Between 1928 and 1937, however, a number of notable Igbo transport capitalists emerged. Although the Igbo came late into road vehicular transportation, they subsequently dominated and took effective control of the industry. And of all the sub-groups that embraced this novel economic enterprise, the most successful were the Nnewi Igbo of Anambra State. Employing their vast enterprising skills, initiative, vision and capital, the Nnewi entrepreneurs were quick to exploit the niche of motor vehicle transport business. They operated the business in many important towns and urban centres in Nigeria such as Onitsha, Aba, Port Harcourt, Nnewi, Enugu and Nsukka in the East, Lagos and Ibadan in the West, Asaba and Benin in the mid-western region and Jos, Makurdi, Kano and Kaduna in the north. The most prominent transport capitalists that emerged between the 1920s and 1960s were J.C. Ulasi, L.P. Ojukwu, Albert Igbokwe, D.D. Onyemelukwe, A. E. Ilodibe, F.A. Obi, D.C. Ubajaka, F.N. Okonkwo, D.C. Emefo and Copyright© IAARR 2013: www.afrrevjo.net 166 Indexed African Journals Online: www.ajol.info

L.C. Amazu, among others. These motor transport magnates pioneered and dominated the industry in Igboland and beyond before and after the Biafra-Nigeria war of 1967-1970. It is germane to discuss a few of these transport icons who commercialized and revolutionized road transport business in Igboland.

J. C. Ulasi was perhaps the first well-known Nnewi person to engage in the road transport enterprise (Joseph Chukwuka, personal communication/interview, Otolo, Nnewi, 6th January, 2009). He was born in 1895 in Ndimgbu-Otolo Nnewi. He started his business career in the 1930s at Aba, first as a textile dealer and later as a produce trader. From these businesses, he accumulated considerable experience and capital which enabled him to enter into road transport industry in 1935. His transport vehicles plied the Aba-Onitsha and Aba-Ikot-Ekpene routes. What, however, promoted his transport business was the contract job he secured to carry government mails from Aba to Onitsha, Nnewi and Ikot-Ekpene (Forrest, 1995). By the time he died in 1945, he had built up his fleet from six in the 1930s to ten (Esse, 2005; Forrest, 1995). Apart from engaging in motor transport business, he also invested in buildings and lands. He became so wealthy and influential in Aba that he was made a warrant chief and a street in the city was also named after him.

Another transport icon was Sir Louis Philip Odumegwu Ojukwu. He was born in 1909 in Obiuno-Umudim Nnewi. Between 1928 and 1934, he worked in the colonial civil service as a produce inspector in the Department of Agriculture and John Holt & Co. Ltd as a clerk. He entered the road transport business in 1937 with one fairly used lorry. The experience and capital he acquired as a produce examiner and clerk facilitated his rise to business prominence. As an astute businessman with great vision and initiative, he established a transport company known as Ojukwu Transport Co. Ltd and rose to become the wealthiest and most successful Igbo transporter in the first half of the 20th century. At the peak of his transport business in the 1940s, he paraded a fleet of over 200 vehicles out of which 50 or 60 were

Leading the way in the expansion, commercialization and innovations which the industry witnessed were indigenous Nnewi transport entrepreneurs. The introduction of luxury bus services was a post-civil war phenomenon and Ilodibe was the first Nnewi and Igbo private transport entrepreneur to achieve this feat. His success as a pioneer luxury bus inter-state operator inspired a host of other notable transporters both within and outside Nnewi town to venture into the business. Some prominent Nnewi indigenous luxury bus transport operators who were influenced by Chief Ilodibe included D.C. Ubajaka (CEO, Izuchukwu Transport Co. Ltd.), L.C. Amazu (CEO, Chidi Ebere Transport Services Ltd.), E. E. Ojukwu (CEO, Ekesons Bros Nig. Ltd, Nnewi) and D.C. Emefo (CEO, Ijeoma Transport Services, Nnewi). Beyond the borders of Nnewi were P.N. Emerah (CEO, P.N. Emerah & Sons Nigeria Ltd, Ukpor), Igwe James Ogbonna Mamah (CEO, Ifesinachi Transport Company, Umuozzi-Enugu ), G.U.O. Okeke (CEO, G.U.O. Okeke & Sons Ltd, Adazi-Ani), Vincent Obianodo (CEO, The Young Shall Grow Motors, Neni), C.N. Okoli (CEO, C.N. Okoli Investment Co. Nig. Ltd, Nanka), C. Anyaegbu (CEO, Chisco Transport Nig. Ltd, Amichi) and Frank Nneji (CEO, ABC Transport, Mbaise Imo State), among others from other Igbo areas in Abia, Enugu, Ebonyi and Imo State. The sources of capital mobilization and vehicle acquisition widened to include not only personal savings, financial assistance from nuclear and extended family systems and profits from other enterprises but also loans from banks, individuals, voluntary organizations such as clubs, hire purchase or lease facilities provided by Federal Urban Mass Transit Agency (FUMTA) and vehicle manufacturers and dealers (Ilodibe, 2001).

Vol. 7 (4) Serial No. 31, September, 2013 Pp.162-173

Other innovations introduced in the operation of road transport industry were the establishment of private parks or stations, maintenance workshops, employment of managerial and technical staff, purchase of recovery vans, ticketing, night travels or operations and the formation of Luxury Bus Owners’ Association of Nigeria Copyright© IAARR 2013: www.afrrevjo.net 172 Indexed African Journals Online: www.ajol.info

(LUBOAN). There was also the introduction of service advertising through mass and electronic media and posters, hire of the services of armed police escorts, use of metal detectors to screen passengers, use of buses equipped with air-condition and television sets and meal services (Esse, 2005).

Conclusion Nnewi people have a long and strong tradition of trading and road transport business. In the first half of the 20th century, population pressure, land hunger, decreasing soil fertility, their shrewd, enterprising and individualistic spirit as well as their capitalist philosophy drove them not only to exploit their immediate environment but also to venture beyond their own frontiers in search of economic opportunities. The people pioneered, dominated and commercialized road freight and passenger transport in Igboland. They also inspired a host of entrepreneurs from other Igbo communities to enter into vehicular road transportation. The revolution the Nnewi transport entrepreneurs brought about in the industry was of profound significance in terms of facilitating the transportation of goods and services beyond Igboland, placing Nnewi people and society on the transport map of Nigeria, assisting in the establishment of the Nkwo Nnewi market as the largest auto spare parts market in Africa and bringing to the fore the transport industry as a formidable and vital sector of the national economy. References Ekundare, R.O. (1973). An economic history of Nigeria, 1860-1960. London: Methuem & Co. Ltd. Esse, U. (2005). Road transport in Nigeria as a private enterprise among the Igbo, 1920-1999. Unpublished Ph.D Thesis, Department of History, University of Nigeria, Nsukka. Field, J.O.A. (1945). Letter in man. In Anthropological institute of Great Britain and Ireland. Vol.XIV.

Road Transport Entrepreneurs & Road Transportation Revolution in Igboland, 1920-1999

LUBOAN). There was also the introduction of service advertising through mass and electronic media and posters, hire of the services of armed police escorts, use of metal detectors to screen passengers, use of buses equipped with air-condition and television sets and meal services (Esse, 2005).

Conclusion Nnewi people have a long and strong tradition of trading and road transport business. In the first half of the 20th century, population pressure, land hunger, decreasing soil fertility, their shrewd, enterprising and individualistic spirit as well as their capitalist philosophy drove them not only to exploit their immediate environment but also to venture beyond their own frontiers in search of economic opportunities. The people pioneered, dominated and commercialized road freight and passenger transport in Igboland. They also inspired a host of entrepreneurs from other Igbo communities to enter into vehicular road transportation. The revolution the Nnewi transport entrepreneurs brought about in the industry was of profound significance in terms of facilitating the transportation of goods and services beyond Igboland, placing Nnewi people and society on the transport map of Nigeria, assisting in the establishment of the Nkwo Nnewi market as the largest auto spare parts market in Africa and bringing to the fore the transport industry as a formidable and vital sector of the national economy. References Ekundare, R.O. (1973). An economic history of Nigeria, 1860-1960. London: Methuem & Co. Ltd. Esse, U. (2005). Road transport in Nigeria as a private enterprise among the Igbo, 1920-1999. Unpublished Ph.D Thesis, Department of History, University of Nigeria, Nsukka.

========================

346334BIOGRAPHIES OF PIONEER IGBO TRANSPORT ENTERPRENUERS AND MAJOR AUTO PARTS MARKETS IN NIGERIA ND WEST AFRICA

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  Sep 13, 2013

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  BIOGRAPHIES OF  PIONEER IGBO TRANSPORT ENTERPRENUERS AND MAJOR AUTO PARTS MARKETS

   

  HISTORY OF IGBO PIONEERS OF TRANSPORTATION AND AUTO SPARE PARTS BUSINESS IN NIGERIA AND WEST AFRICA.

  The pioneers in this respect included individuals like D.D. Onyemelukwe, J.C. Ulas, Louis Philip Ojukwu and Chief Augustine Ilodibe the owner of the popular transport outfit known as "Ekene Dili Chukwu". Other transporters were Chidi Ebere, Izuchukwu and Chief C.N. Okwunwa. The new entrants into the road transport business in Eastern Nigeria include the owners of Emenike Motors, Micmerah International Agency, G.U.O. Okeke transport service, F.G. Onyenwe, Dan Dollars, The Young Shall Grow Motors and ABC Transport Service (Iweze, 2011). Of these luxurious bus enterprises, ABC Transport has witnessed a most phenomenal growth, with the company employing many Nigerians and the outfit spreading its transport services from Nigeria to the West African sub-region

   

  The lgbo transport entrepreneurs who pioneered the road transportation business in Eastern Nigeriasuch as Sir Louis Phillip Ojukwu, J.C. Ulasi, D.D. Onyemelukwe, C. Egwuatu and Benson Okoli have been studied by eminent scholars as seen in the works of A.G. Hopkins. This paper examines the biography of six selected transport entrepreneurs and their contributions to the transformation of the road transport sector in Nigeria. The first three, (Felix Okonkwo, Augustine Ilodibe and Ben Ubajiaka)are selected on the grounds of belonging to the second generation of motor transport entrepreneurs, while the othe rthree, (Patrick Nwobi Emerah, Michael Emerah and Frank Nneji)represent the new entrants who confronted the challenges the earliest and second generation transport entrepreneurs had grappled with, and introduced a lot of innovations which revolutionized the motor road transport business in Nigeria. The three prominent lgbo transporters that emerged in1950s were Augustine Ilodibe, Ben Ubajiaka and Felix Okonkwo,the owners of Ekene Dili Chukwu Motor Transport, Izu-Chukwu Transport Services and Okonkwo Motor Transport respectively. The other three transport entrepreneurs: Patrick Emerah,Michael Emerah, and Frank Nneji belong to the new generation of lgbo transporters who emerged in the 1970s and 1990s.BIOGRAPHIES OF THE SELECTED IGBO TRANSPORTENTREPRENEURS

  PIONEERS OF IGBO ENTRANCE INTO TRANSPORTATION AND AUTO PARTS BUSINESS

  (1) LOUIS PHIILIP OJUKWU TRANSPORT COMPANY STARTED 1950

  (2) C. MOORE OBIOHA TRANSPORT COMPANY STARTED 1954

  (3) EKENE DILICHUKWU TRANSPORT COMPANY STARTED 1955

  (4) IZU CHUKWU TRANSPORT COMPANY STARTED 1955

  (5) ANYAEHIE TRANSPORT CO. 1959

  (6) NEW TARZAN MOTORS

  (7) CHIDIEBERE TRANSPORT COMPANY

  (8) UHURU MOTORS

  (9) EKESON MOTORS STARTED 1980 AND WORKED FOR MOORE OBIOHA FOR MANY YEARS BEFORE HE STARTED HIS OWN COMPANY. ETC,

  (10) UDOYE TRANSPORT COMPANY AUKWUNANNAW ENUGU

  (11) DESTINY MOTORS EMENE ENUGU ETC.

  (12) Michael Emerah

  (13)  PN EMERAH

  AND MANY MORE BIG TIME TRANSPORTERS NOT NAMED HERE WHO WERE

  PIONEERS OF TRANSPORTATION AND AUTO PARTS DEALERS BUSINESS IN NIGERIA.

  THEN THOUSANDS OF IGBOS FOLLOWED INTO THE BUSINESS AND ARE DOMINANT TODAY

   ===========================================

  http://www.abctransport.com/

  Associated Bus Company Plc, operators of ABC Transport commenced operations in road passenger transport in February 13, 1993 as an off-shoot of Rapido Ventures Limited in Owerri with an authorized share capital of N1, 000,000. The authorized and paid up share capitals have since been increased to N800million. Fashioned with a view to running a modern road transportation system in Nigeria with international standards, the company is ably managed by a team of time-tested professionals with excellent track records in their chosen fields. Supporting the management team is a Board of Directors composed of men of integrity whose diverse backgrounds serve as a rich resources base for the company�s policy formulation and overall business perspective. Its services are specifically designed for discerning travelers. The operations in Nigeria is carried out in modern terminals, with comfortable lounges in various cities like Lagos (Jibowu, Oshodi, Amuwo-Odofin) Aba, Owerri, PH, Abuja, Enugu, Okene, Onitsha, Umuahia, Mbaise Jos. ABC buses are dubbed with the company�s trademark � the Reindeer.

  Mr. Frank Nneji, OON Is the Managing Director and Chief Executive Officer. He founded the Company in 1993. He also is the Chairman of ABC Express Courier Limited, a subsidiary of ABC Transport Plc. A 1982 graduate of Biological Sciences of the University of Nigeria , Nsukka, he passed through the Chief Executive Programme of the Lagos Business School (LBS), Nigeria , and Wharton Business School , USA . Mr. Nneji served as the President of Owerri Chamber of Commerce, Industry, Mines and Agriculture (OCCIMA) from 2000-2003 and has also represented the transport sector as a pioneer Member of the Board of Federal Roads Maintenance Agency (FERMA). He has won many awards for his innovation and successful business initiatives, a few of which are the Outstanding Young Person of the Year award in 1997 from Nigerian Jaycees, 2001 Fate Model Entrepreneur of the Year Award for creating excellence and ethics in business from Fate Foundation; Silver Jubilee Award from the Imo State Government for distinguished contribution to the development of Imo State also in 2001. Mr. Nneji is an Honorary Fellow of the Chartered Institute of Logistics and Transport (CILT), UK , and a recipient of the National Honour of the Officer of the Order of the Niger (OON).
  	Mr. Jude Nneji http://www.abctransport.com/ Is the Deputy Managing Director of ABC Transport Plc. He started his career with Rapido Ventures Limited after his graduation in Pharmacy from the University of Nigeria , Nsukka in 1990. He is also a 2002 graduate of the Advanced Management Programme run by the Lagos Business School ( Pan African University ). He has participated in various International Conferences relating to Logistics and Tourism. He joined ABC Plc. At inception as an Executive Director and oversees the company's operations in the Western Zone. He has been able to bring his wealth of experience in administration to bear in the smooth and more efficient running of the company.

  ===========================================================

  Eugene Ojukwu, ...
  www.newswatchngr.com, 27 Oct 2008 [cached]

  Eugene Ojukwu, chairman/managing director, Ekeson Group of Companies, who chaired the occasion told Newswatch that the Igbo celebrate the new yam festival in October of every year.He described the festival as one of the very important cultural activities of the Igbo people, which is celebrated to appreciate God for the yam harvest.He advised the Igbo to always be their brothers' keepers by coming together to present a common front without which they would never get to the promised land.

  CHIEF (DR.) EUGENE EKE NZOM OJUKWU (MON) Chief Ojukwu is a very successful businessman and transport merchant.He is the managing Director and CEO of E. Ekesons Bros. Nig.Ltd. With one bus way back in 1963 the business has grown to be one of the nations largest and most efficient operators of nationwide bus and haulage service with well over 150 buses and trucks.

  ===========================================================================================

  A multi-millionaire transport mogul, Chief Godwin Ubaka Okeke of G.U.O Motors of Imo State brand.

  ==================

  multi-millionaire transporter, Igwe (Dr) James Mamah of Ifesinachi Transport of Nsukka Enugu State brand.

  ====================================

  NEW TARZAN MOTORS - ONE OF THE LARGEST LUXUIOUS BUS OWNERS

  ============================

  P . N. EMERAH MOTOR COMPANY

===================================================

http://newtelegraphonline.com/life-and-times-of-onwuka-kalu-okpuzu-of-abiriba/

Chief Onwuka Kalu, OFR, was a man of many roles. Industrialist, Philanthropist, Entrepreneur, Investor and Politician. He was born on 24th May, 1954. Married to Nelly, a London based lawyer and they have six children.

The Okpuzu of Abiriba overcame adversity to become a positive role model to many Abiriba people and beyond. In 1982, Chief Kalu financed and sponsored the first exclusively made in Nigeria Trade Fair in Aba which was declared open by the Nigeria’s President at the time, Alhaji Shehu Shagari. The principal aim of the trade fair was to promote made in Nigeria products with a view to turning Aba into Japan of Africa.

In 1985, the Nigerian Association of Masters of Business Administration declared Kalu, the Nigerian businessman of the year. Kalu was a member of the Constituent Assembly that wrote the 1989 constitution of the Federal Republic of Nigeria. In 1991, Chief Onwuka Kalu made history when one of his companies – Onwuka Hi-Tek Industries PLC (Africa’s answer to the western Technological challenge) became the first indigenous company to be quoted on the main list of the Nigerian Stock Exchange. Chief Kalu was one of the founding members and pioneer chairman of the now Fidelity Bank Plc.

Perhaps, the most outstanding example of Chief Kalu’s philanthropy was the Children of Africa foundation, a charity organization he founded and served as International President to help children in need.

The multi million dollars children of Africa project remains the boldest step taken so far by any Nigerian at the International level to highlight the plight of the African children.

The Okpuzu of Abiriba’s dream of assisting in taking Abia State in particular and Nigeria in general to the next dimension was cut short by the cold hand of death in the early hours of Tuesday, the 24th of February, 2015 after a fouryear battle with cancer in a London hospital. The Okpuzu Ndi Igbo have lived well but the music and dance of life must end some day and what a way it has ended for Chief Onwuka Kalu.

The door of his life on Earth has closed, and another glorious and joyful one – The wonderful world of Tomorrow opens. Farewell my beloved uncle and mentor. May God grant you eternal rest.

==========================================================================

http://www.ft.com/intl/cms/s/1/c14cd1d4-ac46-11d9-bb67-00000e2511c8.html#axzz3rnI7Nzl4

April 13, 2005 7:22 pm

High-energy plan brings power to the people

By Michael Peel

• Comments

Chronic problems with the electricity supply could be thrown into reverse by a private project that aims to transform the outlook for business in Nigeria

At Star Paper Mill in Owerrinta, near the eastern Nigeria industrial city of Aba, 20 large black diesel tanks are arranged in rows to one side of the main factory. The tanks hold about two-thirds of the 1m litres of fuel - worth almost $500,000 - that Star maintains on site because of the unreliability of the state National Electric Power Authority electricity supply.

Asked if Nepa's service has improved since the country's civilian government took office in 1999, Echeme Nnana Kalu, Star's chairman and managing director, replies: "We have been out of Nepa for nine years. So whether they are improving or not, I don't know."

Mr Nnana Kalu is one of many frustrated business people being targeted by an innovative new private power project planned by Bart Nnaji, a US-based Nigerian engineering professor. The initiative is aimed at helping companies stifled for decades by the widely ridiculed Nepa, which is said to stand for "Never expect power anytime".

The project is a test of the official policy of reviving the country's moribund industrial base; it could also hold wider lessons for development in countries where the state fails to provide basic business infrastructure.

"Someone told me: 'Aba people may wake up one day and find they are the first in the country with a stable power supply'," Prof Nnaji says. "That's our goal."

The country's electricity network has foundered during decades of underinvestment, official corruption and institutional collapse. The Manufacturers' Association of Nigeria, an industry body, has estimated that power supply problems add 30 per cent to companies' costs.

Prof Nnaji is hoping to exploit a confluence of political and economic desires to solve Nigeria's chronic power problems. President Olusegun Obasanjo has set a target of installing 10,000MW of power supply by 2007, but official data late last year put power generation at 4,500MW and other observers say the actual figure is much lower. The only way for the government to fulfil its promise is to encourage independent power projects, some of which are being run by oil multinationals such as Eni of Italy. Oil companies such as Royal Dutch/Shell, eager to meet a 2008 deadline for stopping the polluting practice of flaring off waste gas, will provide the gas for Prof Nnaji's turbines.

While Prof Nnaji is a highly respected manufacturing engineering fellow at the University of Pittsburgh, he is also no stranger to Nigeria's byzantine politics: he was a former minister of science and technology in the ill-fated 1993 transitional military civilian government that was overthrown in a military coup. He has earned goodwill from Mr Obasanjo's administration by setting up a successful project in 2000 in Abuja, the capital, to provide power to the central area including, occasionally, the presidential villa.

The professor, who is from the eastern Nigerian state of Enugu, plans to obtain the $115m of financing needed for the Aba project through a mixture of equity and loans. A financial plan is being worked out by KPMG, the accountancy firm, and Prof Nnaji hopes the project's backers will include Geometric Power, his own company, Nigerian financial institutions and the International Finance Corporation, the private sector lending arm of the World Bank. The IFC has already spent about $200,000 on technical expertise and feasibility studies for the project, which has a provisional start date of June or July next year.

d4 Prof Nnaji says more than 35 big companies have already signed binding letters of intent to take electricity accounting for just over half the project's 105MW capacity, generating annual revenues of more than $35m. The remaining power will be sold to small business and domestic users. The project aims to sell its electricity at 8 cents per kilowatt hour - a 2002 World Bank survey of 1,853 Nigerian manufacturing companies concluded that privately produced power cost an average of 19.05 cents per kilowatt hour.

At a meeting of local business executives, the enthusiasm for Prof Nnaji's project and the potential pitfalls awaiting it are clear. Concerns include the possibility of sabotage by Nepa staff who make money by linking customers illegally to lines to evade charges or give them better connections.

Prof Nnaji says his company will try to combat corruption by investing in line inspections. He adds that senior Nepa officials have been "wonderful", recognising how his project can help reduce the pressure on them. Under a law signed by the president this year, Nepa is due to be broken up into separate power generation, transmission and distribution companies.

After the meeting, Prof Nnaji drives through Aba's potholed and rubbish- strewn streets to one of the city's centres of small-scale manufacturing. The area is highly industrious but conditions are basic and uncomfortable. In one shop, which makes shoes, men work mostly without light, fans or air conditioning, as Nepa power may be on for as little as an hour a day.

Across the street, workers sit in four tiny wooden cubicles smoothing shoe bases with electric lathes. In front of their workplace stand eight small generators. They are powered by gasoline, which has doubled in price in less than two years.

Onyekachi Achinivu, one of the workers, says of Professor Nnaji's project: "It's what we are praying for."

The sentiments are much the same at J. Udeagbala Holdings, a conglomerate that makes pipes, soap and vegetable oils. Even when Nepa is available, the voltage is sometimes so low that it damages the factory's machines, says Chudi Onwunyirigbo, technical manager. The conglomerate takes about 40 per cent of its power from Nepa, at a cost of N3m ($23,000) per month; the remaining 60 per cent comes from generators at a cost of more than N11m.

There are potential dangers inherent in private sector power projects such as Prof Nnaji's, as Andrew Alli, International Finance Corporation country manager, acknowledges. If they are focused on big companies, they could further reduce the incentive for the government to improve Nepa's service to small businesses and residential users. Building many small-scale power plants could result in higher power costs than would be the case under a more integrated system. Yet Mr Alli says the cost worries are "frankly a theoretical downside", given that the cost of generating electricity privately makes power "probably the biggest factor" impeding competitiveness.

Back at Star Paper, Mr Nnana Kalu estimates that Prof Nnaji's plan could help the company at least halve the 40 per cent of production costs it spends on power.

"Nepa is non-existent; it has failed," he says. "What the professor is trying to do is fill the gap that is there."

==============================================================

Financial Times of London

http://www.ft.com/cms/s/0/1e4e1536-dd92-11db-8d42-000b5df10621.html#axzz3rnI7Nzl4

March 29, 2007 3:00 am

Nigeria's leaders fail to nurture potential of region's industrial powerhouse ( IN SOUTHEAST NIGERIA)

By Dino Mahtani in Lagos

•  
• Comments

At Star Paper Mill in the industrial city of Aba in south-east Nigeria, workers are hauling in stacks of waste paper destined to become toilet rolls or campaign posters for politicians.

Weathering power failures and escalating overheads from running generators, the company is trying to capitalise on next month's national elections, which should for the first time see the transfer from one elected president to another. They are recycling used paper into posters for electoral candidates.

Star is one of many companies that have learned to innovate and thrive in spite of the poor performance of successive Nigerian governments in providing an enabling business environment.

Home to small and medium enterprises from soap makers to car part manufacturers, Nigeria's south-east is one of the most industrialised parts of Africa. It is packed with established businesses as well as unregistered ones whose productivity does not feature in official data. Tens of thousands of shoemakers and tailors in Aba churn out products worn across west Africa.

But national and local politicians have persistently failed to promote the region's potential. Many enterprises have been hobbled by power generation costs, import restrictions on raw materials and the flood of cheap imports that has accompanied China's strengthening ties with the continent.

Producers in Aba say corrupt officials levy more than 40 taxes including an "oxygen tax" for "polluters".

The south-east's industrial clusters owe their existence to the cultural trait of entrepreneurship of the Igbo people, Nigeria's third largest ethnic group, who live there. During the Biafran civil war of the 1960s, many Igbo brought their wealth back home after nationwide pogroms against them.

After the separatist Igbo army was defeated and many businesses killed off, enterprises restarted from scratch. They rebuilt using apprentice labour while a strong currency helped them import machinery cheaply during the oil boom of the 1970s and 1980s.

But producers say the difficulties of doing business have increased in recent years, with the region's manufacturing potential neglected as much under the elected government of Olusegun Obasanjo as it was under previous military regimes.

"Political problems have affected us. But if you just bring us good business, we will do it," says Eleanya Okoroji, Star's operations manager, who as well as doing cyclical trade in political posters, produces half a million toilet rolls for the Nigerian market using waste paper from school exams, election commission offices and oil multinationals.

Margins are tight. At the sprawling Bakassi shoe market in Aba, complete with its own vigilante group, cobblers using old sewing machines and employing up to 10 people can produce 500 pairs of shoes a day, though many struggle.

"None of our handicrafts are doing well for us because of all these problems, and the power failure, or we call it government failure," says Hyginius Ihunnia, a cobbler for 30 years, holding a calculator in his dark workshop surrounded by empty cans of diesel.

In another part of Aba, Presidential Tailors, a family business that once produced 100,000 quality suits a year for bankers and government officials across Nigeria and clients abroad, produces a tenth of what it did because of raw material import curbs introduced by Mr Obasanjo's administration.

"We have to rely on smuggled interlining to maintain the quality of our suits. In the meantime industries supposed to benefit from government protection as a result of these import bans are not doing well," says Udo Omire, CEO of Presidential Tailors, who now trains tailors in Morocco and India.

John Udeagbala, a top member of the Aba chamber of commerce, says the challenges of doing business are beginning to dissuade a younger generation. "Many businesses are surviving, but the younger apprentices who have passed through them are not establishing a trade."

In Nnewi, a town not far from Aba and known by locals as the "Japan of Africa" for its motor parts trade, some businesses are tying up closely with Chinese partners, shipping in spare parts and assembling locally. But many formerly booming businesses have also gone bust.

With youth unemployment on the rise, local businesses are ever more wary of crime. This month Chinese workers in Nnewi were taken hostage, an activity that has normally been the preserve of militia groups in the turbulent oil-producing delta region.

Copyright The Financial Times Limited 2015. You may share using our article tools.
Please don't cut articles from FT.com and redistribute by email or post to the web.

=======================================================

http://www.vanguardngr.com/2013/06/memorial-to-a-great-abibira-son-dike-udensi-ifegwu/

Memorial to a great Abibira son, Dike Udensi Ifegwu

on June 27, 2013   /  

LOCATED in present day Ohafia Local Government in Abia North Senatorial zone of Abia State, the Abiriba people have a rich and amazing history. Generally referred to as one of the Cross River Igbos, they migrated to their present location about 500 to 600 years ago from Northern Cross River.

Their topography is hilly with sandy rocky soil, not very friendly to farming, but compensates with an avalanche of rivers, streams and springs. They were predominantly a community of farmers and blacksmithers.

At the zenith of the Trans-Atlantic slave trade in the 17th Century, the first set of Abiriba blacksmiths left their community and established their trade in Arochukwu, the fulcrum of the slave business in Igbo land.  As there were no vehicles or horses, they needed to produce their goods closer to the market.

These great men, Nwafor, Udenyi and Ude started the apprenticeship system of taking into their trade, young boys aged between five and 10, who were trained in morals, discipline and the skills of blacksmithing. Their main products were hoes, matchets, cudgels, guns, chains and ivory.

While some engaged in manufacture, others distributed such manufactured goods all across present day Cross Rivers, Akwa Ibom, Rivers and Bayelsa states.

Such apprentices, sometimes upon starting their own business, became more successful than their master. The system encouraged them to engage other apprentices from the village, not necessarily their blood relations, to learn under them. This practice has endured over the centuries till now.

The consequence of these centuries of apprenticeship and international trade, was that great wealth came into the community and ordained a culture of peer competition where exceptionally gifted young people created wealth, at a relatively young age.

In 1975, a young man who could not continue secondary school education four years earlier, due to lack of finance, and as a result of the civil war, and who had been apprenticed to a master ( the late Chief OkaforMang) to learn trading, attracted great attention in a community that boasted so many great men of wealth such as Chief Nnanna Kalu, Chief Okafor Mang, Chief Nwojo Omokorie, all of blessed memory.

The young man’s name was Dike Udensi Ifegwu. He was 24 years old. He had just built a two storey building of six flats, but was still living in two rented rooms.

The community took note. In the next four years, he committed his mind and soul to large scale importation and distribution of various goods, attracting the attention of the big four banks then: Union, First, U.B.A and Afribank. At the young age of 30 in 1981, of the over 20 factories established by Abiriba people in Aba, he alone owned three namely: Dubic breweries (brewers of Dubic Beer), Dubic Industries and Unijoy Paper Mills.

At the age of 39, in 1990 he was majority shareholder in two banks: Alpha Merchant Bank and Citizens International Bank, where he was Chairman. As Chairman of Citizens International Bank, he conducted meetings with precision, candour and understanding. During meetings, he ensured every member voiced his opinion on any item on the agenda.

He never interfered with management on any issue, not even employment.  I was always amazed as to how somebody who did not go beyond class one in secondary school, could understand basic principles embodied in a financial statement.  He will ask questions or seek clarifications on such accounting principles like accruals, depreciation and amortization.  His understanding of risk assets was beyond the ordinary.

It is to his credit that during his tenure as Chairman of Citizens bank, the bank was the most profitable among the new generation banks.

Lord Chief Dike Udensi was a pioneer in many ways. He was known to be the first Nigerian to solely establish a brewery that produced Dubic Beer. Guiness Nigeria is reaping bountifully from the brand today. In 1991, he joined others to establish a bank in Benin Republic called Banc Internationale du Benin, where he was made a Director. As early as 1993, he teamed up with Jimi Lawal to buy the 40% shares of Banc Internationale Afric Occidentale in Afrikbank. This would have made him the highest shareholder and owner of Afribank.

This dream was aborted by the late Gen. Abacha which led to his exile from Nigeria until Abacha died in 1998. By 1992, he and Jimi Lawal also negotiated and started construction of a 600-room Alpha Sofitel Hotel by the Bar Beach, overlooking the Lagos Lagoon. This also was aborted by the government-induced collapse of Alpha Merchant Bank.

Chief Udensi Ifegwu, was truthful to himself.  He called himself a trader and refused to be lured into any enterprise he could not clearly comprehend its nuances, no matter the projected profit. He was pragmatic in his business dealings, avoiding undue psychedelism, but with an eye on results. Though socially, he was extremely shy, he was humongously bold when it came to business decisions.

As this Abiriba Icon goes home at the young age of 61, it is important the country remembers him for the thousands of lives he touched through the various businesses he established. He exemplifies the notion that a person can be immensely successful, without government contract or government patronage, such as import duty waivers. His life is a testimony that university education or an MBA alone does not determine how successful a person would be.

Mr. JACKSON ABBAH, a commentator on national issues, wrote from Lagos.

=========================================

Nigeria: Geometric Power: the Last Hope for Aba

http://allafrica.com/stories/200601180043.html

Lagos — Irregular power supply has since been identified as the bane of industrialsation in Nigeria, for which the private sector has been put to task and in response Geometric Power Ltd led by Prof. Bart Nnaji is building a multi-billion power plant in Aba. Recently, international financial institutions and investors sent a team to Nigeria to carry out final investment appraisal of the project. Max Amuchie writes

The roll call was an indication of the seriousness of the visit. They came from different parts of the world, and from different organisations: Manfred Martinelli, a site civil expert from the German firm of Fitchtner GmbH & Co. KG; Goetz von Thadden, senior investment officer for Africa, Caribbean and Pacific Region of the European Investment Bank (EIB) based in Luxembourg; Christophe Lucet, loan officer, West Africa and Sahel Division also of EIB and Tony Clamp, director of London-based InfraCo Management Services Ltd.

====================================

On Tue, Nov 17, 2015 at 5:15 PM, 'Abraham Madu' via OkonkwoNetworks <okonkwo...@googlegroups.com> wrote:

  Igbo brands : KOTEC group makers of Tommy Tommy Noddles
ABC Transport
Innoson Motors IVM
Zinox Computers
Seplat First African Indgenous oil exploration Company...
IBETO cement
Next Oil
SLOT
Fidelity and Diamond Bank
Geometric Power
Transcorp Group conglomerate
Oranger drugs
these are strong Igbo brands. We need to organise ourslves and unite and send a message to our misguided Nigerian brothers who think Oil is behind this Biafra agitation. We need to have a plan to organise our towns and cities to reflect our shared vision of an advance society. Let them know we are too big for oil our existence isnt tied to that lazy product called oil that is soon to become an irrelevant product in the future. We can take control of Nigeria and Africa Future by building strong brands and investing our profit in our territory. Spreading our brotherhood spirit and love across Africa. Last but not the least among Igbo brands are Goge Africa and AMAA.

==============================================

On Tue, Nov 17, 2015 at 1:32 PM, Imperial <imperi...@yahoo.com> wrote:

The oldest name in Nigerian business is not even Igbo . Dantata business is over 120 years ( 5 generation of family control ) is from the north and Odulate's Alabukun Powders of  Kuramo Industries Industry Ltd ( 3rd generation of family control ) is now over 90 years and still waxing stronger with annual sales of over 20 billion naira. There is no popular Igbo business that has exceeded 40 years to date  . If you know any please name it .  

Sent from my iPad

On 17 Nov 2015, at 18:23, Africa Today <africa...@gmail.com> wrote:

Re: RICH ADETULE IMPERIAL== OANDO OIL AND YORUBA LOOTING EXAMPLE OF YORUBA DESTRUCTION OF NIGERIA BY LOOTING

YORUBA  CAN NOT RUN BUSINESS FOR LONG. THEY CANNOT RUN BIG SPECIALISED MARKETS THEY TOTALLY LACKED THE TECHNICAL KNOWLEDGE

HOME > NEWS
Oando Records Historic Loss of N184bn in 2014
26 Oct 2015
Font Size: a / A‎

Reports N35bn loss for half-year 2015

OANDO OIL COMPANY HISTORIC LOOSE.

OANDO MEANS == OBASANJO AND OBASONJO OIL COMPANY WITH TINUBU FAMILY LOOTED

LARGEST LOSS FOR A SINGEL COMPANY RUN BY A YORUBA.

YORUBA ARE EXPERTS IN LOOTING

==YORUBA RUNS DOWN PRIVATE BUSINESS AND MARKETS HABITUALLY== Oando Records Historic Loss of N184bn in 2014

HAVE YOU EVER SEEN ANY PRIVATE BUSINESS, BANK, PRIVATE COMPANY OR MARKET YORUBA RUNS OR OPERATES WELL BY YORUBA  WITHOUT TIES TO OIL, NIGERDELTA RESOURCES, NNPC, SUBSIDIES,GOVERNMENT LOANS, BANK LOANS, CONCESSION, CONTRACTS AND ALL TIES TO GOVERNMENT MONEY  AND GOVERNMENT WELFARE TIES RUN BY YORUBA ABSOLUTELY NEVER.

YORUBA RUNS DOWN EVERY  PRIVATE BUSINESS OR GOVERNMENT BUSINESS NO MATTER HOW LONG IT TAKES. THATS THEIR EXPERTISE. THEY CANNOT CREAT OR BUILD A COMPANY  OR MARKET PRIVATELY

BUT LIKE TO BE CEO, ACCOUNTANTS AND WORKERS FOR WHTEMMAN COMPANIES AND FRANCHISES IN NIGERIA.

YOU CANNOT AND CAN NEVER SEE A COMPANY BUILT FROM GROUND UP IN YORUBA LAND WITHOUT NIGERDELTA OIL MONEY, NIGERIA CORRUPT MONEY, CONSESSIONS, SUSIDIES, FAKE CONTRACTS AND GOVERNMENT WELFARE. ONCE THE FREE MONEY IS LOOTED THE RUN AND DESTROY THE BUSINESS AND LOOT IT.

YOU CAN NEVER SEE  A BUSINESS BUILT FROM SCRATCH AND GROUND UP WITHOUT GOVERNMENT WELFARE IN YORUBA LAND. THEY CANNOT BUILD BUSINESS.

IGBOS  IN ABA, NNEWI, ONITSHA, ENUGU, OWERRI, AFIKPO BUILD, BUSINESS, MARKETS AND PRODUCE BUSINESS FROM GROUND UP WITHOUT GOVERNMENT HELP AND THATS HOW MAJORITY OF IGBO BUSINESS THRIVES.

MANY IGBO BUSINESS AND MARKETS OPERATES, BUILD, AND THRIVE FROM ABA, LAGOS, NNEWI, ONITSHA, ENUGU, OWERRI, AFIKPO, KANO, KADUNA, JOS, BENIN FROM GROUND UP WITHOUT GOVERNMENT WELFARE LIKE YORUBA .

Tuesday 27 October, 2015 Updated 6:44My AccountAbout UsContact Us

HOME > NEWS
Oando Records Historic Loss of N184bn in 2014
26 Oct 2015
Font Size: a / A‎

Reports N35bn loss for half-year 2015

Goddy Egene 
 
Oando Plc last Friday finally released its long-awaited results for the full-year ending 2014, in which it declared a historic loss after tax of N183.9 billion compared to a profit after tax of N1.396 billion in 2013.


The company also released its half-year unaudited results for 2015, recording another loss after tax of N35.12 billion from a profit after tax of N8.980 billion in the corresponding period in 2014.


Oando, whose shares have taken a beating in the last year from investors who have not been comfortable with the company’s inability to release its results on time, over exposure to financial creditors resulting from its acquisition of ConocoPhillips’ upstream assets in 2014, coupled with declining oil prices, also recorded a loss before tax of N171.3 billion in 2014 and a loss before tax of N38.58 billion for the half-year ended June 30, 2015.


For the full year 2013, the company made a profit before tax of N713.2 million and a profit before tax of N8.57 billion as at June 30, 2014.
For the full year 2014, Oando also recorded a decline in revenue from N449.8 billion to N424.67 billion while the company managed to increase revenue marginally from N55.67 billion in June 2014 to N60.32 billion in June 2015.


Commenting on its disappointing results, Oando, in a statement at the weekend, said the less than stellar numbers were indicative of the emergence of a new global oil order due to continuing crude price fluctuations - a near halving since June 2014 - that has changed the corporate landscape for oil companies, and has far-reaching implications for the economies of oil exporters.


Presenting a global overview of the challenges for operators in the oil and gas sector and the economic headwinds it has had to contend with, Oando said: “A review of the half-year results of eight of the 10 oil and gas firms listed on the NSE main board showed that the companies made a cumulative profit after tax of N18.490 billion as against the N42.797 billion recorded at the same time a year earlier.


“The world’s big energy groups have also shelved $200 billion of spending on new projects in an urgent round of cost-cutting as pricing volatility is sustained.


“To curb the global oil downturn’s effect on the mono-resource driven Nigerian economy and to counter mounting currency pressure, the Central Bank of Nigeria (CBN) moved to shore up foreign exchange and prevent further depletion of the country’s reserves.
“The CBN has in effect devalued the naira by 22 per cent since November 2014, and the key interest rate has remained at an all-time high of 13 per cent with cash reserve requirements at 31 per cent.


“With oil prices plummeting by nearly 60 per cent, the domino effect of the global slump has seen Nigeria’s oil export receipts decline dramatically, and indigenous firms have faced a scale-back in proposed joint ventures with IOCs, deeper cuts to capital spending, finding new markets to counter US reluctance to buy, investor wariness, and critically, higher lending local terms due to a weakened naira.


“As much-needed foreign investment stays away, another key implication of the CBN’s action, local banks have also significantly reduced transactions with indigenous oil firms to curtail non-performing loans in the sector and fiscal challenges in meeting vast funding demands.”


In an attempt to downplay its disappointing results, Oando said it scored significant operational highlights by increasing its 2P net reserves by 82 per cent from 230.6 millions barrels of oil equivalent (MMboe) to 420.3 MMboe and growing average production from 4,531 boe/day in H1 2014 to 55,399 boe/day in H1 2015.


The company also successfully completed the first segment of its 125 km Greater Lagos Pipeline Ijora-Marina extension, and signed an agreement to sell a 60 per cent stake in its downstream business to Helios/Vitol JV for $461 million.


Providing further insight during a visit to the Nigerian Stock Exchange (NSE), Mr. Wale Tinubu, Group Chief Executive of Oando, said: “Our nation is experiencing change, as witnessed from the tone of redirection in the oil and gas industry, which will lead to improved accountability and operational efficacy in all governmental agencies in this sector.


“Our business is also experiencing this change with the sale of 60 per cent of our downstream business in line with our strategic goals, placing fundamental growth expectations on the upstream division, as already evidenced in the 11-fold increase in production and 82 per cent increase in 2P reserves.


“The cash proceeds of the divestment will be utilised towards further optimisation of our balance sheet.”
He also explained that it recorded losses in 2014 due to impairments of N76.9 billion (41.8 per cent) in exploration and production, N16.9 billion (9.2 per cent) in under-lift and JV receivables loss, N37.1 billion (20.2 per cent) in its rig business impairment, and N7.3 billion (3.9 per cent) in foreign exchange losses. 75.1 percent of the impairments have been declared as non-cash related.


“Appropriate consolidation of Oando’s subsidiaries’ accounts and painstaking due diligence undertaken as a result of the magnitude of impairments have been cited as the primary reasons behind the delay of the year-end statements,” Tinubu stated.


He further noted that upstream players had been forced to record significant reductions in the fair value of their asset portfolios, adding that Oando was no exception to this trend, “which has led us to recognise about N76.9 billion of impairment charges in our exploration and production business”.


“This impairment is as a result of lower oil prices leading to a reduced valuation of certain exploration and appraisal assets. We prudently booked an additional N16.9 billion write down on under-lift receivables and Production Sharing Contract (PSC) receivables in our exploration and production business, and our energy services business realised impairments of N37.1 billion, as the current oil price environment has brought about reduced drilling activity and in turn reduced day rates accruable to our rig assets, as well as a weaker market outlook.


“In addition to the decline in oil prices, there was a 8.4 per cent devaluation of the naira which generated a significant foreign exchange loss in our downstream business.
“The nature of the business makes us extremely vulnerable to foreign exchange risks as we import in dollar denomination and recover our costs in naira.


“The delay of payments of subsidies from the federal government has served to increase this vulnerability and led to a realisation of N7.3 billion in foreign exchange losses,” Tinubu stated.

===============================================================================

On Tue, Nov 17, 2015 at 2:05 PM, 'Wharf A. Snake' wharf...@yahoo.com [TalkNigeria] <TalkN...@yahoogroups.com> wrote:

 

[Attachment(s) from Wharf A. Snake included below]

On Nov 17, 2015, at 1:32 PM, Imperial <imperi...@yahoo.com> wrote:

The oldest name in Nigerian business is not even Igbo . Dantata business is over 120 years ( 5 generation of family control ) is from the north and Odulate's Alabukun Powders of  Kuramo Industries Industry Ltd ( 3rd generation of family control ) is now over 90 years and still waxing stronger with annual sales of over 20 billion naira. There is no popular Igbo business that has exceeded 40 years to date  . If you know any please name it .  

Sent from my iPad

On 17 Nov 2015, at 18:23, Africa Today <africa...@gmail.com> wrote:

Re: RICH ADETULE IMPERIAL== OANDO OIL AND YORUBA LOOTING EXAMPLE OF YORUBA DESTRUCTION OF NIGERIA BY LOOTING

YORUBA  CAN NOT RUN BUSINESS FOR LONG. THEY CANNOT RUN BIG SPECIALISED MARKETS THEY TOTALLY LACKED THE TECHNICAL KNOWLEDGE

HOME > NEWS
Oando Records Historic Loss of N184bn in 2014
26 Oct 2015
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Reports N35bn loss for half-year 2015

OANDO OIL COMPANY HISTORIC LOOSE.

OANDO MEANS == OBASANJO AND OBASONJO OIL COMPANY WITH TINUBU FAMILY LOOTED

LARGEST LOSS FOR A SINGEL COMPANY RUN BY A YORUBA.

YORUBA ARE EXPERTS IN LOOTING

==YORUBA RUNS DOWN PRIVATE BUSINESS AND MARKETS HABITUALLY== Oando Records Historic Loss of N184bn in 2014

HAVE YOU EVER SEEN ANY PRIVATE BUSINESS, BANK, PRIVATE COMPANY OR MARKET YORUBA RUNS OR OPERATES WELL BY YORUBA  WITHOUT TIES TO OIL, NIGERDELTA RESOURCES, NNPC, SUBSIDIES,GOVERNMENT LOANS, BANK LOANS, CONCESSION, CONTRACTS AND ALL TIES TO GOVERNMENT MONEY  AND GOVERNMENT WELFARE TIES RUN BY YORUBA ABSOLUTELY NEVER.

YORUBA RUNS DOWN EVERY  PRIVATE BUSINESS OR GOVERNMENT BUSINESS NO MATTER HOW LONG IT TAKES. THATS THEIR EXPERTISE. THEY CANNOT CREAT OR BUILD A COMPANY  OR MARKET PRIVATELY

BUT LIKE TO BE CEO, ACCOUNTANTS AND WORKERS FOR WHTEMMAN COMPANIES AND FRANCHISES IN NIGERIA.

YOU CANNOT AND CAN NEVER SEE A COMPANY BUILT FROM GROUND UP IN YORUBA LAND WITHOUT NIGERDELTA OIL MONEY, NIGERIA CORRUPT MONEY, CONSESSIONS, SUSIDIES, FAKE CONTRACTS AND GOVERNMENT WELFARE. ONCE THE FREE MONEY IS LOOTED THE RUN AND DESTROY THE BUSINESS AND LOOT IT.

YOU CAN NEVER SEE  A BUSINESS BUILT FROM SCRATCH AND GROUND UP WITHOUT GOVERNMENT WELFARE IN YORUBA LAND. THEY CANNOT BUILD BUSINESS.

IGBOS  IN ABA, NNEWI, ONITSHA, ENUGU, OWERRI, AFIKPO BUILD, BUSINESS, MARKETS AND PRODUCE BUSINESS FROM GROUND UP WITHOUT GOVERNMENT HELP AND THATS HOW MAJORITY OF IGBO BUSINESS THRIVES.

MANY IGBO BUSINESS AND MARKETS OPERATES, BUILD, AND THRIVE FROM ABA, LAGOS, NNEWI, ONITSHA, ENUGU, OWERRI, AFIKPO, KANO, KADUNA, JOS, BENIN FROM GROUND UP WITHOUT GOVERNMENT WELFARE LIKE YORUBA .

Tuesday 27 October, 2015 Updated 6:44My AccountAbout UsContact Us

HOME > NEWS
Oando Records Historic Loss of N184bn in 2014
26 Oct 2015
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Reports N35bn loss for half-year 2015

Goddy Egene 
 
Oando Plc last Friday finally released its long-awaited results for the full-year ending 2014, in which it declared a historic loss after tax of N183.9 billion compared to a profit after tax of N1.396 billion in 2013.


The company also released its half-year unaudited results for 2015, recording another loss after tax of N35.12 billion from a profit after tax of N8.980 billion in the corresponding period in 2014.


Oando, whose shares have taken a beating in the last year from investors who have not been comfortable with the company’s inability to release its results on time, over exposure to financial creditors resulting from its acquisition of ConocoPhillips’ upstream assets in 2014, coupled with declining oil prices, also recorded a loss before tax of N171.3 billion in 2014 and a loss before tax of N38.58 billion for the half-year ended June 30, 2015.


For the full year 2013, the company made a profit before tax of N713.2 million and a profit before tax of N8.57 billion as at June 30, 2014.
For the full year 2014, Oando also recorded a decline in revenue from N449.8 billion to N424.67 billion while the company managed to increase revenue marginally from N55.67 billion in June 2014 to N60.32 billion in June 2015.


Commenting on its disappointing results, Oando, in a statement at the weekend, said the less than stellar numbers were indicative of the emergence of a new global oil order due to continuing crude price fluctuations - a near halving since June 2014 - that has changed the corporate landscape for oil companies, and has far-reaching implications for the economies of oil exporters.


Presenting a global overview of the challenges for operators in the oil and gas sector and the economic headwinds it has had to contend with, Oando said: “A review of the half-year results of eight of the 10 oil and gas firms listed on the NSE main board showed that the companies made a cumulative profit after tax of N18.490 billion as against the N42.797 billion recorded at the same time a year earlier.


“The world’s big energy groups have also shelved $200 billion of spending on new projects in an urgent round of cost-cutting as pricing volatility is sustained.


“To curb the global oil downturn’s effect on the mono-resource driven Nigerian economy and to counter mounting currency pressure, the Central Bank of Nigeria (CBN) moved to shore up foreign exchange and prevent further depletion of the country’s reserves.
“The CBN has in effect devalued the naira by 22 per cent since November 2014, and the key interest rate has remained at an all-time high of 13 per cent with cash reserve requirements at 31 per cent.


“With oil prices plummeting by nearly 60 per cent, the domino effect of the global slump has seen Nigeria’s oil export receipts decline dramatically, and indigenous firms have faced a scale-back in proposed joint ventures with IOCs, deeper cuts to capital spending, finding new markets to counter US reluctance to buy, investor wariness, and critically, higher lending local terms due to a weakened naira.


“As much-needed foreign investment stays away, another key implication of the CBN’s action, local banks have also significantly reduced transactions with indigenous oil firms to curtail non-performing loans in the sector and fiscal challenges in meeting vast funding demands.”


In an attempt to downplay its disappointing results, Oando said it scored significant operational highlights by increasing its 2P net reserves by 82 per cent from 230.6 millions barrels of oil equivalent (MMboe) to 420.3 MMboe and growing average production from 4,531 boe/day in H1 2014 to 55,399 boe/day in H1 2015.


The company also successfully completed the first segment of its 125 km Greater Lagos Pipeline Ijora-Marina extension, and signed an agreement to sell a 60 per cent stake in its downstream business to Helios/Vitol JV for $461 million.


Providing further insight during a visit to the Nigerian Stock Exchange (NSE), Mr. Wale Tinubu, Group Chief Executive of Oando, said: “Our nation is experiencing change, as witnessed from the tone of redirection in the oil and gas industry, which will lead to improved accountability and operational efficacy in all governmental agencies in this sector.


“Our business is also experiencing this change with the sale of 60 per cent of our downstream business in line with our strategic goals, placing fundamental growth expectations on the upstream division, as already evidenced in the 11-fold increase in production and 82 per cent increase in 2P reserves.


“The cash proceeds of the divestment will be utilised towards further optimisation of our balance sheet.”
He also explained that it recorded losses in 2014 due to impairments of N76.9 billion (41.8 per cent) in exploration and production, N16.9 billion (9.2 per cent) in under-lift and JV receivables loss, N37.1 billion (20.2 per cent) in its rig business impairment, and N7.3 billion (3.9 per cent) in foreign exchange losses. 75.1 percent of the impairments have been declared as non-cash related.


“Appropriate consolidation of Oando’s subsidiaries’ accounts and painstaking due diligence undertaken as a result of the magnitude of impairments have been cited as the primary reasons behind the delay of the year-end statements,” Tinubu stated.


He further noted that upstream players had been forced to record significant reductions in the fair value of their asset portfolios, adding that Oando was no exception to this trend, “which has led us to recognise about N76.9 billion of impairment charges in our exploration and production business”.


“This impairment is as a result of lower oil prices leading to a reduced valuation of certain exploration and appraisal assets. We prudently booked an additional N16.9 billion write down on under-lift receivables and Production Sharing Contract (PSC) receivables in our exploration and production business, and our energy services business realised impairments of N37.1 billion, as the current oil price environment has brought about reduced drilling activity and in turn reduced day rates accruable to our rig assets, as well as a weaker market outlook.


“In addition to the decline in oil prices, there was a 8.4 per cent devaluation of the naira which generated a significant foreign exchange loss in our downstream business.
“The nature of the business makes us extremely vulnerable to foreign exchange risks as we import in dollar denomination and recover our costs in naira.


“The delay of payments of subsidies from the federal government has served to increase this vulnerability and led to a realisation of N7.3 billion in foreign exchange losses,” Tinubu stated.

On Sat, Nov 14, 2015 at 7:21 AM, Rich Adetule <bade...@yahoo.com> wrote:

Folks,

I read this tale by moonlight with consumable enthusiasm and I laughed uncontrollably. By the time I finished reading his negatively skewed down the memorable lane assessment on the Yorubas, this history student's Project/ Thesis/Dissertation are saddled with plagiarism, cut and paste, poor and self edification work will not pass the text of time. He has no option than to go back and do a thoroughly presentable and unbiased work that can wither through the storm of history. 

He should research more if the same Yoruba folks collapsed the Mid-Western Economy. Are the same children of Oduduwa crossed Rivers Niger and Benue through Onisha bridge and callously destroyed the Igbo business conglomerate? Why should they skata kata Opara-Zik's legacies? He should find out how their big Rat's gluttony successfully level the gigantic Kano groundnut pyramid and other notable Northern Nigeria companies for their self means? 

Until those assignments are done satisfactory, he would NEVER graduate in this University. 

Prince Adetule.  

Sent from my iPhone

On Nov 14, 2015, at 3:11 AM, Africa Today africa...@gmail.com [NIDO-USA] <NIDO-USA...@yahoogroups.com> wrote:

 

YORUBA LOOTED ODUA INVESTMENT COMPANY AND DEODOLU INVESTMENT COMPANY AWOLOWO FAMILY BUSINESS  IS USED AS  FRONT FOR ACQUIRING,  STOLEN, TAKING OVER AND LOOTED INDIGENIZATION OF BRITISH, BIAFRAN IGBOS(20 POUND) AND NIGERIA ASSETS OF 1972 AFTERF THE WAR.

NCNC AND NPC FORMED GOVERNMENT WITHOUT YORUBA VOTES

SHAGARI WAS PRESIDENT WITHOUT YORUBA VOTES

YARADUA WAS PRESIDENT WITHOUT YORUBA VOTES

JONATHAN WAS PRESIDENT WITHOUT YORUBA VOTES

OBASANJO WAS PRESIDENT WITHOUT YORUBA VOTES

SO WHAT IS THESE FALLACY ABOUT YORUBA TRIBAL POLITICS.

AWOLOWO LAID THE FOUNDATION FOR ECONOMIC AND ETHNIC DECAY OF NIGERIA AND YORUBA NATION

Awolowo played a decisive role in preserving the inequitable Nigerian federation by being the chief architect of economic blockade against Biafra.  About seven million Biafrans directly or indirectly died due to Awolowo’s inhuman economic policies during and after the Nigerian Biafran war. As a Finance Minister immediately following the Nigerian-Biafran war, he supervised a wholesale sellout of Nigerian economic assets through his crafted Indigenization Decree. This sellout benefitted mainly businessmen from his Yoruba ethnic group and laid the foundation for the continuous decay in the political, private, public management of Nigerian human/economic resource assets.

 BECAUSE THOSE YORUBA HE GAVE AND SOLD NIGERIAN ASSETS WERE NOT COMPETENT ABOUT BUSINESS. THEY WERE MOSTLY OWAMBE LAGOS BOYS DRINKING GROUP AND PARTYING OWAMBE WHO WERE NOT BUSINESS ORIENTED OR MARKET ORIENTED BUT RATHER ARE BOYS THAT LOVE TO FLY TO LONDON AND BUY HOUSE AND DRIVE CARS WITH LOOTED NIGERIAN AND BIAFRAN MONEY.

THEY COULD NOT RUN BUSINESS, THEY TOTALLY LACKED THE TECHNICAL KNOWLEDGE AND IT DOES NOT MATTER FOR AWOLOWO,  THEY COULD NOT RUN ANY MARKET, THEY COULD NOT RUN COMMERCIAL ENTERPRISES WITH OUT GOVERNMENT LOOTING,GOVERNMENT DEFAULTED LOANS, GOVERNMENT SUBSIDIES, WELFARE, FREE THIS, FREE THAT AND WITH TRIBALISM.  THEY COLLAPSED AND LOOTED ABOUT 1000 ONE THOUSAND NIGERIAN COMPANIES, ASSETS AND INVESTMENTS AT HOME AND ABROAD. I MEAN THEY LOOTED EVERYTHING AND BROUGHT THEMSELVES AND NIGERIA ON ITS KNEES. THEY LOOTED COMPANIES AND ASSETS THEY DID NOT KNOW HOW IT WAS BUILT.

Yes. The man said it. Awolowo. He said it. There is nothing like Nigeria.

Yet the man wanted desperately to rule a Nigeria - figment of his imagination, you may say. He committed treason to rule a Nigeria he did not believe existed. He starved children to sickness and to death to rule a Nigeria he did not believe existed. He wrote "fat checks" to purchase guns, munitions, jet fighters and jet bombers to shoot and bomb men and women in market places and town squares; old men, women, infants and suckling in hospitals, churches and wherever his evil designs could penetrate so he may rule a Nigeria he did not believe existed.

YORUBA LOOTED ODUA INVESTMENT COMPANY AND DEODOLU INVESTMENT COMPANY AWOLOWO FAMILY BUSINESS  IS USED AS  FRONT FOR ACQUIRING,  STOLEN, TAKING OVER AND LOOTED INDIGENIZATION OF BRITISH, BIAFRAN IGBOS(20 POUND) AND NIGERIA ASSETS OF 1972 AFTERF THE WAR.

WE ARE NOT TALKING OF FOREIGN FRANCHISES WITH OFFICES IN LAGOS WERE YORUBAS ARE MANAGERS AND ACCOUNTANTS ETC.. WE ARE TALKING OF LOCAL AND INDEGINOUS NIGERIA MARKETS AND BUSINESS WERE YOU HAVE IGBO MADE PRODUCTS OR HAUSA MADE PRODUCTS. THE IS NO LOCAL YORUBA MADE MARKETS OF MAJOR PRODUCTS. YORUBAS CANNOT BUILD ANYTHING. THEY ONLY WAIT FOR FOREIGN INVESTMENTS OR NIGERIAN GOVERNMENT ASSETS TO LOOT THEM.

THIS SINGUALAR DECISION DESTROYED YORUBA CAPACITY TO CREATE THEIR OWN LOCAL AND YORUBA SENSE OF INNOVATION AND INVENTION. AWOLOWO TOOK AWAY YORUBA ABILITY TO BE CREATIVE FROM GROUND UP BY STEALING AND TAKING OVER OTHER PEOPLES PROPERTIES AND ASSETS AND MADE IT YORUBA OWNED. BY THIS ACTION HE MADE YORUBA TOO DEPENDENT ON GOVERNMENT PROGRAMS (WELFARE, SUBSIDY, CONCESSION, CONTRACTS, FREE EDUCATION, FREE HEALTHCARE, FREE THIS AND FREE THAT) AND IT LEFT YORUBAS BARED OPEN AND EMPTY TO REAL LOCAL CREATIVITY AND STRUGGLES IN BUSINESS SELF MADE GLOBALIZATION.

 IT IS NIGERDELTA OIL MONEY THAT IS SUSTAINING YORUBA NATION. THE MAJORITY OF BUSINESS AND MARKETS  IN LAGOS IS OWNED IN MAJORITY BY FEDERAL GOVERNMENT,  FOREIGNERS, IGBOS, HAUSAS,NIGERDELTA, MIDDLE BELT. YORUBA OWNS LESS THAT 30% OF BUSINESS  AND MARKETS IN LAGOS TODAY.

 YORUBAS HAVE DESTROYED AND LOOTED ALL THE EDUCATIONAL INSTITUTIONS LEFT UNDER THEIR WATCH AND LOOTED ALL OF THEM AND THEN MAJORITY OF YORUBA PROFESSORS AND TEACHERS ARE NOW PASTORS WITH MEGA CHURCHES.

(1)YORUBAS TODAY DO NOT CONTROL ONE SINGLE BIG MARKET IN NIGERIA TODAY IN EXCEPT LOCAL MARKETS  IN THEIR VILLAGES.

(2)THE IS NO SINGLE MARKET OR COMODITY MARKET LIKE LIVES STOCK, AGRICULTURE, AUTO PARTS, NOLLYWOOD, PHARMACEUTICALS, CEMENT, ELETRONICS, COMPUTERS ETC. THAT YORUBAS CONTROL IN NIGERIA TODAY.

(3) YORUBAS TODAY DO NOT CONTROL AGRICULTURE BUT HAUSA/MIDDLE BELT DOES

(4) YORUBA DO NOT CONTROL LIVESTOCK OR ANIMAL FARMING - HAUSA AND MIDDLE BELT DOES

(5) ALL THE MAJOR IMPORT AND EXPORT ON COMMERCE IS IGBO CONTROL

(6) THE BIGGEST MARKETS IN LAGOS AND ABUJA IS IGBO CONTROL AND HAUSA/NIGERDELTA/MIDDLE BELT

(7) THE LAGOS AND IKEJA COMPUTER MARKETS IS IGBO CONTROL

(8) ALL THE MAJOR AUTOMOBILE AND CAR/TRUCK MARKETS ARE IGBO CONTROL

(10) ALL THE MAJOR TRANSPORTATION AND LUXURY BUSES BUSINESS ARE IGBO CONTROL

(11) PRIVATE HOTEL BUSINESS IN NIGERIA IS IGBO CONTROL

(12) NOLLYWOOD AND MUSIC BUSINESS ARE IGBO CONTROL

(13) THE 10 BIGGEST MARKETS IN LAGOS= ALABA, ASPANDA. LADIPO, OJO, TRADE FAIR MARKET, IKEJA COMPUTER MARKETS, THE MAJOR LOCAL DRUGS AND PHARMACEUTICALS RETAIL AND MANUFACTURE ARE IGBO OWNED. NOT FOREIGN FRANCHISE WERE YORUBAS ARE LOOTING ACCOUNTANTS AND LOOTING MANAGERS.

(14) YORUBA BEATS ONLY THE NORTH IN EDUCATION AND GRADUATION. THE SOUTH SOUTH, MIDDLE BELT, NIGER DELT AND IGBO BEATS YORUBA IN EDUCATION.

(15) FOOTBALL- MEN FOOTBALL AND LADIES FOOTBALL IN NIGERIA AND ALL SPORTS ARE DOMINATED EVEN IN EUROPE AND AMERICA BY IGBOS, SOUTH SOUTH AND NIGERDELTA PEOPLE. MAJORITY OF NIGERIAN INTERNATIONAL STARS IN RECORDS NUMBERS ARE IGBOS, SOUTH SOUTH AND NIGER DELTA.

IGBO FOOTBALL CLUBS AND NIGERDELTA FOOTBALL CLUBS DOMINATES NIGERIAN FOOTBALL. EVEN THE HAUSAS AND MIDDLE BELT DOES BETTER THAN THE YORUBAS.

WERE IS THAT YORUBA BRAIN POWER BUT LOOTING BRAIN POWER.

 YORUBAS DID NOT BUILD ANY COMPANY AND YORUBA DID NOT BUILD ANY INVESTMENTS =THEY STOLE AND LOOTEED AND DESTROYED ALL THE INDEGINIZATION OF BRITISH ASSETS, AMERICAN ASSETS, BIAFRAN ASSETS, IGBO ASSETS AND NIGERIAN ASSETS FROM 1967 TO 1980. THEY LOOTED AND DESTROYED ALL OF THEM.

WHAT ENGENDERED THE INDIGENIZATION POLICY?

 

It is no more news worthy to point out that before the civil war that Ibo out of their capacity for honesty, to work hard, to produce, to innovate, to manage, create and persevere were able to penetrate all facets of Nigerian endeavor, when the British used merit as a yard stick. It is an irrefragable fact that even Yoruba would not dare challenge that fact, if not, what started the Yoruba hate, envy and jealousy against the Ibo in the first place, Yoruba and Hausa claimed that Ibo was dominating everything in the country but what they will not acknowledge publicly was the fact that the British were making the decisions about who to hire by their own standard and not by Ibo standard and that Ibo was good at what they did and better than them. The Yoruba and Hausa wanted not only equal opportunity they also wanted equal outcome regardless of effort and everyone knows that that is impossible.nigerian economy or that Nigerian economy was at that time synonymous to the total investment of the British." FREDRICK ONWUMBIKO ✆ fonwu...@gmail.com

 

 

 

 

(YORUBAS DID NOT BUILD IT) YORUBAS DO NOT KNOW HOW TO BUILD ECONOMY. THEY LOOTED BRITISH, IGBO BIAFRAN EUROPEAN,AND ALL FOREIGN COMPANIES AND ASSETS IN NIGERIA FRAUDULENTLY AND CONVERTED ALL OF THEM INTO ODUA INVESTMENT COMPANY . IT WAS MORE THAN 200 ASSETS AND INVESTMENTS OWNED BY THE BRITISH, EUOPEANS, FRENCH, BIAFRANS IGBOS AND FOREIGN INVESTMENTS. TODAY ALL AND MOST ALL OF THOSE INVESTMENTS HAVE BEEN LOOTED AND HAVE ALL BEEN DESTROYED AND BANKRUPT. THERE ARE SHADOWS OF THEMSELVES BECAUSE OF YORUBA CORRUPTION AND LOOTING. WHAT YORUBA ARE LOOTING TODAY AND STEALING TODAY ARE FROM NIGER DELTA RESOURCES, YORUBA AGRICULTURE IS DEAD, COCOA IS DEAD.

 

Sophisticated Looting And Stealing Inc.- Massive Corporate Fraud Inc. :- From 1967, 1000 Nigerian Assets, Institutions And Companies Were Looted And Destroyed.The Yorubas Took Over Economic Engine Of Nigeria From 1967. Please Take A Look At All The Nigerian Assets, Institutions And Companies fellow Nigerians Have Looted And Destroyed Since 1967 And Which Has Resulted In Debasing Nigeria And Setting Nigeria 100 Years Backward.

After The Defeat Of Igbos And Economic Blockage Of Igbo From Nigeria Economic Activities Because Igbo Who Were Also Economically Very Viable Then. From 1952 To 1967 The World Was Looking Up To Nigeria To Rival Brazil And The Asian Tigers In Terms Of Economic Activities Because Of The Vibbrancy Of Eastern Region Igbo And Western Region Yoruba.

Nigeria Would Have Been Competing With Asian Tigers (Singapore, Malysia, Japan, China, Taiwan,Etc), Brazil, Argentina, South Africa, America, Europe Etc. In Terms Of Economic Vibrancy, Healthy Economy And Nigeria Being One Of The Richest Country In The World With Zero Poverty And A Heaven For The World, And Africa Would Have Been Lifted Out Of Its Present Misery By Nigeria Which Is What God Planned Nigeria For. But The Yoruba Race And Their Treachery and Lies Destroyed Nigeria, Africa And Black Race Hope For Ever.

Even By 1967 The Northern Nigeria Hausa/Fulani Were Doing Very Well And Fine Managing Their Groundnut Production, Solid Mineral Abundance, And Excellent Management Of Their Northern Nigerian Property Management Company When The North Was In Alliance With The Eastern Nigerian Igbos Before The War.

But As Soon As Yoruba Colluded With The Northern Nigeria All Things Started Going Down Hill.

Today 90% Percent Of These Assets, Institutions, And Companies Have Vanished, Closed Or Liguidated, And The Few Remaining Ones Are In Decline, Unproductive, Below Capacity And Managed By Corrupt Directors, Managers And On The Verge Of Closure Or Being Pursued By Efcc, Police, Icpc, Creditors, Endless Law Suites, Endless Labour Conflicts And Government And Attorney Generals Inquiries Etc. For Massive Corruption And Stealing.

Please Take A Look At All The Nigerian Assets, Institutions And Companies that have been Looted And Destroyed Since 1967 And Which Has Resulted In Debasing Nigeria And Setting Nigeria 100 Years Backward.

University Of Ibadan, University Of Ife, University Of Lagos, Nigeria Ministry Of Education, New Nigerian Bank, Ajaokuta Steel Industry, Nigeria Ports Authority, Chanrai Stores, British American Merchant Bank, Industrial Bank,Nnpc, Nepa, Mapo Hall, Cocoa House, Iita, Nigerian Airways, Nigerian Railways, Nigeria Ferry, Volkswagen, British Tobacco, Plateau Tin Production, Cappa, Gold Mining, Cocoa Farms, Nigerian Lives Stocks, Federal Research Institute Oshodi, Nigerian Fisheries, National Bank, Siemens, Harliburton, Nigerian Police, Nigerian Customs, Nigerian Prisons, Nicon, Nigerian Reinsurance,

“Pharmaceutical Nigeria Plc ,May and Baker Nigeria Plc,Vitafoam Nigeria Plc,Wahum Nigeria Limited ,CAP Nigeria Plc , International Paints of West Africa [IPWA], Berger Paints Nigeria Plc, Berec Nigeria Limited, Kabelmetal, Nigeria Bottling Company Plc, Leventis Nigeria Plc ,West African Portland Cement Company,[Lafarge ],Wema Bank Nigeria Plc, Scoa Nigeria Plc ,CFAO Nigeria Plc, Cadbury Nigeria Plc, Wemaboard Estates, Odua Group, Livestock Feeds Nigeria Plc , Nigerian Breweries Plc, new nigerian Bank, Batta, Kingsway Stores,

Crittal Hope (Nigeria) Limited, Mushin, Lagos State.

• Dunlop (Nig.) Industries Plc, Ikeja, Lagos State.

• Galvanising Industries Limited, Ikeja, Lagos State

• Nigeria Construction & Water Resources Development Company Limited, Ibadan, Oyo State

• Nigerian Wire & Cable Plc, Ibadan, Oyo State

• Nigerite PLC, Ikeja, Lagos State

• Nipol Limited, Ibadan, Oyo State

• Odu'a Textile Industries Limited, Ado-Ekiti, Ekiti State

• Soleh Boneh Overseas (Nigeria) Limited, Ibadan, Oyo State

• Vono Products Plc, Mushin, Lagos State

• Wema Bank Plc, Marina, Lagos

• West African Portland Cement Plc, Ikeja, Lagos State

• Great Nigeria Insurance PLC, Ikoyi, Lagos State

• Glanvill Enthoven & Company Limited

o Guinness (Nig.) Plc, Ikeja, Lagos State.

o International Breweries Plc, Ilesa, Osun State.

o Macmillian Publishers (Nig) Limited, Ilupeju, Lagos

o Nestle Food (Nig) Plc, Ikeja, Lagos State

o Nidogas Company Limited, Lagos State

o Niger Mills Company Limited, Calabar, Cross River State

o Nigerian Aluminium Extrusions Limited, Lagos

o SKG-Pharma (Nig.) Limited, Lagos

o Tower Aluminium (Nig.) Plc, Lagos

o U. A. C. of Nigeria Plc., Lagos

o Niger Delta Explorations & Production Plc,

o Bitumen exploration & exploitation Co. Nig. Ltd.

o African Petroleum Plc

o AIICO Insurance Plc

o First Bank Nigeria Plc

o Flour Mills Nigeria Plc

o Intercontinental Bank Plc

o Nigerian Breweries Plc

o R. T. Briscoe (Nig.) Plc

o Spring Bank Plc

o PZ Industries Plc

o S C O A Nigeria Plc

o Union Bank of Nig. Plc

o United Bank for Africa

o Vitafoam (Nigeria) Plc

o Ecobank Plc

o NIMAPAK Nig. Plc

o Con-oil Plc

o John Holt Plc

O'net Telecomms. Incorporated in 2002 as Odu'a Telecoms Limited, (ODU'ATEL) now branded as O'net. Licensed for fixed wireless Operation on 3.5Ghz and 800Mhz frequencies deploying CDMA Fixed and Mobile Telephony and Internet as well as Broadband Internet for corporate organizations, Institutions and Research Institutes and Virtual Private Network Services for Banks and other Network organizations in all five South Western States of Nigeria and beyond.

Askar Paint Ltd. Askar Paints (Nig.) Ltd. was established in 1961 to manufacture paints and it is well known for its brands-Durosyn and Polyplast. In addition to paints, the company manufactures other chemicals and allied products like glue, clear finish wood preservatives and red oxide.

Cocoa Industries Ltd. Cocoa industries Limited was established in1965 and its Nigeria's first cocoa processing company. In addition to processing cocoa beans into butter powder and cake, the company also produces and markets Vitalo – a cocoa based beverage drink. The company also exports cocoa butter.

Epe Plywood Industries Ltd. Epe Plywood Industries Limited is a major wood processing company. It was established in 1965 for the production of plywood, flush doors, veneer and furniture. It also engages in saw milling business.

Odu'a Printing & Publishing Co. Ltd. Established in 1956, Odu'a Printing and Publishing Co. Ltd. is engaged in exercise books production, security printing, all business and office stationeries, maqazines, journals, annual reports, seasonal greeting cards, calendars, promotional posters & flyers, T- shirts, face caps & plastic ID card printing

Wemabod Estates Limited. Established in 1963. Wemabod Estates Limited is one of the biggest property and estate in Lagos, developing companies in sub-Sahara Africa. Some of its famous properties are: Western House, Investment House in Lagos and Cocoa House in Ibadan, Oyo State.

The Commercial Farmers' Academy. New farmers in Nigeria not only face the challenges of securing land and funding, but also obtaining the management skills and technical know-how to be able to run a farming business successfully in today’s business environment. In the light of this, Odu’a Investment Company is establishing a commercial farmers’ academy to provide top quality practical skills training to new and emerging commercial farmers in this part of our country.

Westco Farms Ltd. Westco Farms Limited (RC 640323) Incorporated on 30th November 2005 is the new joint purpose vehicle established by Odu’a Investment Company Limited and Shepherd Agriculture (Africa) from South Africa. It is therefore a subsidiary of Odu’a Investment Company Limited.

The company will be involved in:

a. Aquaculture using the new floating cage system designed to achieve an initial target of 100 tons of catfish per annum. The technology is a new innovation in aquaculture engineering and fish friendly system that will derive the most from the fish.

b. Commercial Farm Training centres located in all the states of the South West to encourage and teach subsistence and so called small-scale farmers to make their farming enterprises profitable ventures. The training will consist of applied technical knowledge, practical farming skills and Farm Business Skills with the slogan “Training people in the business of farming”. The Academy will be modeled after the Buhle Farmers’ Academy of South Africa.

c. Cultivation of arable crops such as maize, sorghum and soya using improved seeds, proven technology and tested management skills that ensure high yield per hectare of cultivated farmland.

Fisheries Services Company Limited Fisheries Services Company Limited was established in 1973 to provide cold storage facilities, wharfage, bunkering and repair services to fishing companies operating at Ijora, Lagos State.

E & O Power & Equipment Leasing. Established in August, 2005, the company's main business lines are sales, maintenance and leasing of Power Generating Set – 17.5KVA – 1000KVA & cooling equipments.

Western Hotel Ltd:

E & O Power & Equipment Leasing. Western Hotels Limited is made up of two hotels. Premier Hotel with 87 rooms and Lafia Hotel with 60 rooms. The rooms are well designed and furnished to standard with swimming pools and a Casino. The two hotels engage in outdoor catering for all occasions

Lagos Airport Hotel Limited. Lagos Airport Hotel started business in 1942 as Grand Hotels and was later expanded and renamed Ikeja Arms Inn in 1956. In 1961, it became known as Lagos Airport Hotel. It is located on the popular Obafemi wolowo Way, Ikeja, Lagos State. It has a total of 277 rooms, three restaurants, a standard swimming pool and a number of conference rooms. The hotel also engages in outdoor catering for all occasions.

Odu'a City Hall.

ODU'A CITY HALL is situated within the Cocoa House complex The hall is for commercial letting for AGMs receptions, dance etc.

QUOTE "Nigeria- Biafra war was supposed to have been officially over, it was not enough to murder Igbo and their babies in millions, the treacherous Awolowo who was now on Gowon's payroll, who Ojukwu should have let rot in prison again started marginalizing Igbo Biafrans by confiscating Biafran accounts and looting their hard earn money, giving the Igbo persons 20 pounds each regardless of balance (and interest).

The "Indigenisation Decree", another bastard policy which followed soon after the arbitrary award of 20 Pounds completed the routing of Biafrans from the commanding heights of the Nigerian economy.

Only two years after the war supposed to have ended, when Igbo (Biafrans) were still in their economic doldrums, Chief Obafemi Awolowo [the Finance Commisioner under Gowon ] then auctioned the Nigerian economy to the Nigerian "indigenes" with the Enterprises Promotion Decree 1974(so-called). He started selling off government and foreign owned properties to "Nigerians" knowing very well that he had just made the Biafrans/Igbo virtually bankrupt.

This was of course deliberate, and done to reverse the Hausa/Fulani/Yoruba fear of "Igbo domination" also to spite the Igbo/Biafrans futher. The timing of this policy was to ensure that there was effective exclusion of the Biafrans/Igbo from ownership in Nigeria's industrial sector, since after confiscation of the money and bank accounts they would no longer have the financial muscle to participate. As "the vanquished"[Biafrans/Igbo] were dispossessed of what they had, "the victors"[Hausa-Fulani-Yoruba] were deliberately empowered through the banks to purchase the Nigerian "national"(illusionary that is) patrimony.

Despite this particular anti-Igbo policy, the Igbo are still thriving such that they could easily produce the most educated people in Nigeria and even in Africa. Despite after all this he did for the Caliphate and Nigeria, he still never became president of Nigeria even for 1 second. Yes he was be "The best president Nigeria never had". Unquote

"The Nigerian government policy of "starvation as weapons of war" as crafted by Awolowo to which he was never forgiven by Igbo. We can also detail the facts that even after the war, Awo and Nigerian government kept all Igbo money, gave them only 20 pounds to every igbo who had money in the banks as punishment for defending themselves and his continued starvation as weapons of war and annihilation. In a nuthshell Igbo were left to die, I remember my uncle coming home with 20 pounds and wondering what anyone could possibly do with twenty pounds as opposed to thousands of pounds he had in the bank from oil and Petroleum business before and during the war."

Cornelius Thursday, April 29, 2010

QUOTING CHIEF EDWIN CLARK ON THE WAR AFFECT ON IGBO" "The harsh post-war economic policy immediately converted Igbo businessmen into street hustlers. Those in the corporate world lost their positions and had to begin new professional careers. Importation of stock fish was banned to deny Igbos their only means of protein after the war. (Remember that most livestock were lost during the war). This was followed by the problem of abandoned property implemented mainly by the old Rivers State." CHIEF EDWIN CLARK . IGBO PROPERTIES WERE SEIZED ALL OVER NIGERIA AND MANY WERE UNDERVALUED AND SOLD AS AUCTION AND AT AUCTION ALL OVER NIGERIA FROM 1967 TO 1980.

 

 

 

 

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FREDRICK ONWUMBIKO ✆ fonwu...@gmail.com

"There is one very important fact in my analysis that I want everyone to get, and that is that before the civil war, Nigeria as a nation did not have an economic of its own. Let me say it again, that Nigeria as a nation before the British/Biafran civil war did not have an economy of its own. I emphasized that point in other to say that whatever seemed like Nigerian economy were British owned. Put differently, if you excluded few of the regional cooperatives and some joint ventures businesses which were mostly British engineered to make buying raw materials easy for the British, ever y other aspect of the economy were owned majorly by the British, even the military, given the fact that almost every military supply came from Britain. It is then save to say that British investment in Nigeria amounted to a great totality of Nigerian economy or that Nigerian economy was at that time synonymous to the total investment of the British. FREDRICK ONWUMBIKO ✆ fonwu...@gmail.com

"One relevant question that I always managed to ask my interlocutors is whether they were aware of the indigenization decree of 1972, master minded by Awolowo and the Yoruba and the ramifications of that policy, as will be expected, the answer ranged from, I have heard of it but does not understand what it actually meant to I have not heard of the policy. Listening to this ignorance induced perspective from my friends made my heart to skip a beat, realizing that the task of bridging this information gap is not going to be a child’s play."fonwu...@gmail.com

================================================================================================

Odu'a Investment Company Limited was incorporated in July, 1976 to take over the business interest of the former Western State of Nigeria, now Oyo, Ogun, Ondo, Osun and Ekiti States of the Federal Republic of Nigeria. The company commenced business on the 1st of October, 1976. ODU'A INVESTMENT COMPANY LIMITED since inception, has been operating as a conglomerate with over 70% of her business as investment/joint ventures with reputable multinationals.

As early as February 26, 1976, just about three weeks after the creation of the three states out of the old Western State, the State Implementation Committee had given a thought to the establishment of a holding company which was to take over the supervision and monitoring of sundry investments of the former Western State which were hitherto under the control of the Western State Industrial Investment and Credit Corporation. Such investments were over sixty (60) in number. The Economic Project Performance Unit, in collaboration with the Western State Industrial Investment and Credit Corporation, was given the duty of making necessary recommendation for the establishemnt of a holding company.

Investments within the Group at its inception covered a wide spectrum of economic activities, viz; integrated textile mills, breweries, commercial banking, insurance business, real estates, livestock rearing, fisheries services, carbonated drinks, food and beverages industries, manufacturing in chemical and mechanical industries, hotel and catering, vehicle distribution, bottling and marketing of liquefied petroleum gases, printing and publication.

Apart from investments in limited liability companies, Odu'a Investment Company Limited also owns substantial properties in choice locations in the Ikeja residential/Industrial Estates and Apapa in Lagos State as well as a number of residential and commercial properties in Ibadan including the Aje House. It also has investments in properties in various parts of the Country.

================================================================================================

QUOTE "Nigeria- Biafra war was supposed to have been officially over, it was not enough to murder Igbo and their babies in millions, Awolowo who was now on Gowon's payroll, who Ojukwu should have let stay in prison again started marginalizing Igbo Biafrans by confiscating Biafran accounts and looting their hard earn money, giving the Igbo persons 20 pounds each regardless of balance (and interest). The "Indigenisation Decree", another bastard policy which followed soon after the arbitrary award of 20 Pounds completed the routing of Biafrans from the commanding heights of the Nigerian economy. Only two years after the war supposed to have ended, when Igbo (Biafrans) were still in their economic doldrums, Chief Obafemi Awolowo [the Finance Commisioner under Gowon ] then auctioned the Nigerian economy to the Nigerian "indigenes" with the Enterprises Promotion Decree 1974(so-called). He started selling off government and foreign owned properties to "Nigerians" knowing very well that he had just made the Biafrans/Igbo virtually bankrupt. This was of course deliberate, and done to reverse the Hausa/Fulani Yoruba fear of "Igbo domination" also to spite the Igbo/Biafrans futher. The timing of this policy was to ensure that there was effective exclusion of the Biafrans/Igbo from ownership in Nigeria's industrial sector, since after confiscation of the money and bank accounts they would no longer have the financial muscle to participate. As "the vanquished"[Biafrans/Igbo] were dispossessed of what they had, "the victors"[Hausa-Fulani-Yoruba] were deliberately empowered through the banks to purchase the Nigerian "national"(illusionary that is) patrimony.This Awolowo was indeed a treacherous beast with ambition, indeed a wicked bastard. Despite this particular anti-Igbo policy, the Igbo are still thriving such that they could easily produce the most educated people in Nigeria and even in Africa. Despite after all this he did for the Caliphate and Nigeria, he still never became president of Nigeria even for 1 second. Yes he was be "The best president Nigeria never had". UNQUOTE

" the Nigerian government policy of "starvation as weapons of war" as crafted by Awolowo to which he was never forgiven by Igbo. We can also detail the facts that even after the war, Awo and Nigerian government kept all Igbo money, given them only 20 pounds to every igbo who had money in the banks as punishment for defending themselves and his continued starvation as weapons of war and annihilation. In a nuthshell Igbo were left to die, I remember my uncle coming home with 20 pounds and wondering what anyone could possibly do with twenty pounds as opposed to thousands of pounds he had in the bank from oil and Petroleum business before and during the war."Cornelius Thursday, April 29, 2010

QUOTING CHIEF EDWIN CLARK ON THE WAR AFFECT ON IGBO" "The harsh post-war economic policy immediately converted Igbo businessmen into street hustlers. Those in the corporate world lost their positions and had to begin new professional careers. Importation of stock fish was banned to deny Igbos their only means of protein after the war. (Remember that most livestock were lost during the war). This was followed by the problem of abandoned property implemented mainly by the old Rivers State." CHIEF EDWIN CLARK . IGBO PROPERTIES WERE SEIZED ALL OVER NIGERIA AND MANY WERE UNDERVALUED AND SOLD AS AUCTION AND AT AUCTION ALL OVER NIGERIA FROM 1967 TO 1980.

======================================================================================================

NIGERIA

FREDRICK ONWUMBIKO ✆ fonwu...@gmail.com

"There is one very important fact in my analysis that I want everyone to get, and that is that before the civil war, Nigeria as a nation did not have an economic of its own. Let me say it again, that Nigeria as a nation before the British/Biafran civil war did not have an economy of its own. I emphasized that point in other to say that whatever seemed like Nigerian economy were British owned. Put differently, if you excluded few of the regional cooperatives and some joint ventures businesses which were mostly British engineered to make buying raw materials easy for the British, ever y other aspect of the economy were owned majorly by the British, even the military, given the fact that almost every military supply came from Britain. It is then save to say that British investment in Nigeria amounted to a great totality of Nigerian economy or that Nigerian economy was at that time synonymous to the total investment of the British. FREDRICK ONWUMBIKO ✆ fonwu...@gmail.com

WHAT ENGENDERED THE INDIGENIZATION POLICY?

It is no more news worthy to point out that before the civil war that Ibo out of their capacity for honesty, to work hard, to produce, to innovate, to manage, create and persevere were able to penetrate all facets of Nigerian endeavor, when the British used merit as a yard stick. It is an irrefragable fact that even Yoruba would not dare challenge that fact, if not, what started the Yoruba hate, envy and jealousy against the Ibo in the first place, Yoruba and Hausa claimed that Ibo was dominating everything in the country but what they will not acknowledge publicly was the fact that the British were making the decisions about who to hire by their own standard and not by Ibo standard and that Ibo was good at what they did and better than them. The Yoruba and Hausa wanted not only equal opportunity they also wanted equal outcome regardless of effort and everyone knows that that is impossible.igerian economy or that Nigerian economy was at that time synonymous to the total investment of the British." FREDRICK ONWUMBIKO ✆ fonwu...@gmail.com

"THE GREATEST HEIST IN MODERN HISTORY BY AWOLOWO AND THE YORUBAS,

KNOWN AS INDIGENIZATION OF FOREIGN COMPANIES IN NIGERIA

"This piece was prompted by what I saw as benign ignorance amongst some of our Ibo folks and because such ignorance is music to the ears of some other people and Yoruba in particular. In more than one occasion my friends and other Ibo have advanced the argument that if Ibo was that smart, how come Yorubas dominated the commerce industry in Nigeria? What they meant were the domination of Yoruba in the banking, insurance industries, Coco Cola and some other surviving industries. In one particular occasion a friend revealed to me that he recently discovered that the reason why some Yoruba are so wealthy is because they were smart enough to invest their money in corporate stocks and bonds (not realizing that Yoruba actually stolen those corporations) while Ibo is busy engaging in buying and selling. The Yoruba will like people to continue to believe that story, that it was because they were smart that they were able to do all these great investments in the commerce industry. One relevant question that I always managed to ask my interlocutors is whether they were aware of the indigenization decree of 1972, master minded by Awolowo and the Yoruba and the ramifications of that policy, as will be expected, the answer ranged from, I have heard of it but does not understand what it actually meant to I have not heard of the policy. Listening to this ignorance induced perspective from my friends made my heart to skip a beat, realizing that the task of bridging this information gap is not going to be a child’s play. What is disconcerting is that some in their benign induced ignorance believe that the effect of indigenization is inconsequential at this time because it happened about forty years ago. This piece is therefore for those that are educable and for those that have the capacity to appreciate the magnitude and most importantly for those that can relate that gigantic economic event that reshaped the economic foundation on which Nigerian economy settled on after the British/Biafran war and as well as relate our present economic malaise to that economic foundation engendered by indigenization.

There is no doubt that most people, particularly those that do not have either basic or international economics background are overwhelmed by the subject of INDIGENIZATION OF FOREIGN COMPANIES IN NIGERIA because of their inability to understand the economics of it and the efficacies to make the necessary connections and relate it to the present economic doldrums" FREDRICK ONWUMBIKO ✆ fonwu...@gmail.com

FREDRICK ONWUMBIKO ✆ fonwu...@gmail.com

This is an excerpt from an article, please read on ……..

YORUBA INCOMPTENCE DESTROYED NIGERIA

COMPETENT CORRUPTION VS INCOMPETENT CORRUPTION

Nigerian’s problem is not bribery, not corruption not evengreed rather our fundamental problem is “incompetence”

Definition

Competent corrupt societies are societies that have theinbuilt mechanisms to self-correct and self-adjust because the fundamentalfoundation of those societies are situated on “COMPETENCE”

Incompetent corrupt societies are societies that do not havethe inbuilt mechanisms to self-correct and self-adjust because the fundamentalfoundation of those societies are situated on “INCOMPETENCE”

Enter Yoruba Incompetence:

The presence of the Yoruba in this whole cesspool will once and for all prove my point that incompetence of the crippling order is responsible for Nigerian malaise rather than Bribery,corruption or greed. It is easy to make the argument that the reason why thenorth was incompetent was because they were not well educated, that majority ofthem had only high school education, that they were naive young men andill-informed. Only when you discover that the northern leaders understood theirshortcoming and literally handed over the running of the government to theYoruba to handle the day to day operation of the government and the Yorubacould not do any better than the Hausa. I will like to state without fear ofcontradiction that Yoruba has well educated people in every field ofendeavor-engineering, law, economics, name it, they have people there but thatis where the credit ends. The understanding was that the educated Yoruba wasgoing to help the ill-prepared north to administer the affairs of the countryby complementing the north that was mainly in the military. In order words, theYoruba supposed to take care of the administration, economy, the technologicalinnovation and development of the country into the 21st century. What Yorubaproved unequivocally, at least we have more than forty years of history tosupport it, is that acquiring education to PH.D level does not automaticallymake you a competent person. One cannot question the educational achievement ofthe Yoruba because they are one of the most educated groups in Nigeria.The question that Yoruba has to answer is what went wrong? What did they dowith their education when it came to managing Nigeria?The Yoruba had the education, the engineers, the architects, the lawyer,economists, technologists, the numerical numbers, the ministers, directors, themedical doctors, the high positions, the unrestricted authority, the power, youknow what? the Yoruba had cart Blanche. They even had total control of thecommunication media. As established above the Hausa needed the Yorubagiven the fact that they got into power ill-prepared, they hoped that theYoruba will use their education and intelligence to help navigate the ship ofthe country. As history has shown, the Yoruba dropped the ball big time and arestill dropping it as we speak. Most Hausa that are in the know will tell youthat it is true that Yoruba are well educated but that they are as incompetentas the north is. What called the competence of the Yoruba into question wasthat from the day Yoruba occupied the center stage in piloting the affairs ofthe country, the country did not progress an inch from where Yoruba mate itrather the country regressed and lost everything that Yoruba touched ormanaged. Yoruba simply ravaged, pillaged and looted every government ministry,department, agency, business, cooperation, you name it. Gowon’s administrationwas considered corrupt because of the wanton, unmitigated, unrestrained lootingand corruption of the Yoruba that was recruited to help run the country. It isa known fact that Yoruba thought the north how to be corrupt. Monkey see andmonkey do. After watching the Yoruba pillage and loot, the north figured thatthat is normal and that that is how educated people behave and they joined thebandwagon. So you have now two tribes with the biggest population that see thelooting and destruction of everything they touch as business as usual andNigerians are wondering what is wrong with the country, why is the country socorrupt. The country is corrupt because Hausa and Yoruba are incompetent tomanage the affairs of the country.

The consequences of the North’sincompetence was critical because if the north were competent, they could havetaken care of the country by themselves or alternatively checkmated the Yorubaonce they starting looting, but because the north did not know any better theysimply joined. The way it happened was that as the north was siphoning andlooting directly from the federal treasury to themselves, the Yoruba were busysucking the life out of all the MDAs and the businesses and cooperations fromthe fallout of indigenization. Interestingly enough Hausa did not bother Yorubaand Yoruba did not bother Hausa, each party was busy minding their business tothe detriment of the whole country. Exactly the symptom of incompetence, yousee, incompetence does not ask questions or get inquisitive because it does notknow what to be inquisitive about and even when it asks a question and gets ananswer; it does not know what to do with. This explains the widespread of briberyand corruption when you have Yoruba and Hausa neck deep into it.

Another caseof incompetence displayed by north was when the Yoruba proposed for theindigenization of foreign companies. It is my belief that none of the northernmilitary leaders had ever heard that word “INDIGENIZATION” before or understoodwhat it meant. In the first instance, the presence of the northerners incooperate Nigeriawas minimal to none, so the north had no comprehension of the ramification ofsuch policies, another evidence of incompetence rather than corruption from theonset. If the north was competent and understood the implications of suchpolicies, they could have objected on many grounds, unfortunately they did notknow any better to checkmate the looting Yoruba rascals. Having demonstratedthat the Yoruba failed to lead notwithstanding their education, the question iswhat is the difference between the leaders of countries like South Korea, Braziland India thatsucceeded in the face of challenges and the Yoruba leaders that failed? Thefact that Yoruba cannot claim lack of education, they cannot claim lack ofopportunity and they cannot claim that they lacked the unrestrained authorityto act, the only thing that the other leaders have that the Yoruba lacked iscompetence. The way it works is that the absence of competent creates a vacuumthat is quickly filled by the ills of societies like bribery, corruption,greed, crime, murder and so on and so on. To further drive the point home, cananyone recall one single Yoruba official that has done something so noble andhonorable to improve the lot of the whole nation rather pursuing self-interestthat Nigerians could look back and sing his praise? The answer is no, but Iwill like someone to proof me wrong. That is a proof of incompetence firstbefore corruption. As a matter of fact you can trace the origin of all themillionaires from Yoruba and Hausa to one corruption or the other or governmentcontract. Fighting corruption in Nigeriais like fighting Hausa and Yoruba and I think that that is a daunting task. Thesimple fact that after Yoruba took total control of Nigerian economy and theycould not improve the socio-economics and technological development is a signof nothing but incompetence.

The injectionof competence in Nigerian system will see a gradual improvement inaccountability and progress. Typical example is that Hausa and Yoruba have gonein and out of ministerial positions for decades without anything to show for itand that is why no one can remember their names or what they did but when youmention the name of people that have demonstrated competence, people rememberthem and what they accomplished, people like Charles Soludo, ObiageliEzekwesili, Ogozi Okonjo-Iweala, Dora Akunyili and Dr. Bert Nnaji to mention afew. Notice that these folks did not have unrestrained authority, they did nothave cart blanche but were able to make a different despite the challenges justlike the leaders in South Korea,Brazil and India.What do they have in common? Competence.

I could go onand on but I believe that the point has been made that the problem ailing thecountry is not bribery, corruption or greed rather that our fundamental problemis incompetence and that only competent people can tame the pillaging andlooting going on now and most importantly that Yoruba and Hausa must join thebuilders rather than looters of the system

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Enter the Hausa Incompetence:

Contrast the success of competentcorrupt societies with the failure of incompetent corrupt societies like Nigeria.I defined earlier an incompetent corrupt society as a society that lacks theinert mechanism to self-correct and self-adjust for the betterment of itssociety or a house without a grown up. Since after the war Nigeriahas been living the life of an incompetent corrupt society that lacks thenecessary capacity, ability and skills to self-correct in order to carry out atask of improving the lot of Nigerian. It is important to note that after thewar the north held sway, they had total and absolute control, they had totalfreedom, they had no opposition because the opposition had been decimated. Igbowas leaking its wounds. The north had the freedom to take the country in anydirection they chose without opposition, to make Nigeria in its own image, ifyou think about it, they sure made Nigeria in their image, squalor, illiteracy,ignorance, crime, death, murder, hopelessness, stagnation, disillusionment,indiscipline, disaster, unfulfilled dreams, indifference, neglect, overnightmillionaires and billionaires, disappointments, bribery, corruption and greedbecame the new normal, the question is what happened? What happened was thatthe British helped to institutionalized Kakistocracy and incompetence prevailedover competence and became the order of the day if you ask me? As we will see,the north exhibited incompetence of the highest order with its attendantcorruption and blight without the necessary mechanism to self-correct andself-adjust. Even before the north got power, they knew that they were illprepared for the responsibilities, when they got the power, they had no clue whatto do with, they did not know what military and political power were used for,they became confused, they became a sitting duck, they became rudderless, evenwhen they were advised, they could not use the advise because they did not havethe requisite ability and skills to judge the advise right or wrong. When theydelegated responsibility they lacked the ability to evaluate what the resultshould be, for that reason it was difficult for them to request for anyfeedback when they had no clue what the feedback is supposed to look like. Ifthey cannot tell difference between what they are looking for, how can theycheck mate bad behaviors from good? This is incompetence not corruption. Beforethe northern military took power, literally, everything in the system wasworking, education, health, water supply, electricity, road infrastructure,Nigerian railway, ports authority, national shipping line, the business andcommerce industry were all thriving. It is pertinent to note that the north didnot meet the systems in their primitive stage, they had systems that wereworking, as a matter of fact Nigeria experienced incredible economic expansionimmediately after the war in part because the Igbo land was militarized andunbeknownst to the leadership the army spent majority of their salaries in Igboland which managed to keep the Igbo economy afloat and plus other foreigninvestment into the country. When the demands of leadership came knocking onthe door of the northern leadership, what answered and opened the door wasabject incompetence, absolute intellectual vacuity, visionlessness andhopelessness. The leadership was found to be inadequate, unsuited, devoid ofthose qualities requisite for effective conduct or action and not possessingthe necessary ability and skills to carry out the tasks of leadership. What wasmost disturbing was that the northern leadership knew it, the British mastersknew it, the Igbo knew it, the Yoruba knew it, the world knew it and theBritish went ahead anyway to convince the north that they can lead the countryeven over the objection of the northern leadership that they cannot. Themanifest absence of vision, objectives, direction, hope and the cluelessness ofthe northern leadership created a vacuum that laid the foundation and fertileground for unbridled bribery and corruption to breed, fester andmultiply. This is incompetence not corruption. The absence of competenceis our problem. When the northern leadership was found vacuous, opportunist andschemers filled the vacuum they found with their whims and caprice and thenorth could not self-correct or correct others because they did not possess therequisite elements of competence. This is incompetence not corruption, thoughcorruption later filled that vacuum that was created but it did not come first,it came second after it discovered that competence was not home. In orderwords the north being in charge is like having no grown up in the house and therascals came in and ransacked the house. What is most heart breaking is thefact that the northern incompetence knew no bounds, the least that could havebeen expected from the northern leadership was taking care of northerncitizens, favoring them and raising their standard of living relative to therest of the country but that did not happen. The fact that they could not do itis incompetence not corruption. The northern leadership could not improve theeducation and literacy, health -infant mortality, water, road infrastructure,economics and the overall wellbeing of the northern citizens. The question iswhether the failure of the northern leadership to improve the lot of thenortherners was deliberate? The answer is no but more of the manifestation ofincompetence and not corruption. They were clueless which is equal toincompetence. The north today has the highest illiteracy rate in the wholeworld, infant mortality, blindness and myriad of other problems. The north isworse off amongst the whole groups in Nigeriain all indices used to adjudge standard of living. The welfare of the northcould have been more worse if it were not for the work of non-governmentalorganizations from the southern part of the country that provide preventive andpalliative services in place of the total absence of government services. Folkshave always wondered why Nigeriais in this state of anomie, all I ask is for folks to look to the north andthey will find the answer. Folks should ask the question, how can the north dofor the whole nation what they could not do for their northern people, thesaying that you cannot give what you do not have, the north could not give thatwhich they did not possess and that is competent service.

Ladies andGentlemen, what I am contending here is that what the northern leadershipdemonstrated was not bribery, was not corruption or greed, what theydemonstrated was peter’s principal at work which was basic incompetence becauseit is evident that as much as one will agree that the north had a reason tohold malice against the east, there was no evidence that they extended thatmalice to their northern brethren, nor was there evidence that the leadershiphated their citizens, so their failure to take care of the welfare of thenorthern people and to make them better than the rest of the nation could onlybe seen as innocent and inert ignorance and not corruption. They failure tounderstand what leadership is all about and failed to make the connectionbetween leadership and the people. In case some of you have forgotten, let meremind you of what incompetence is all about: being Inadequate for or unsuitedto a particular purpose or application, Devoid of those qualities requisite foreffective conduct or action, and not possessing the necessary ability, skill,etc. to do or carry out a task". I want the reader to pay attention to thewords "unsuited, devoid, and not possessing and that will capture the cruxof my argument. You have to be devoid of something serious to fail ineverything. That north is simple and short not suited for the purposes ofleadership and that is why they can not stop all the bad things that arehappening. There were plenty of evidence that the north in most part wereinnocent and not corrupt nor were they inclined to bribery until years laterwhen the leadership vacuums they created were filled by others who were equallyas incompetent as they were. The north did not start out not to bring thedividend of their leadership to the people, ironically they did not even trybecause they did not know how to try or what to try or do, they weresuper-morosed, and they simply vegetated throughout their leadershipreign. The lack of performance on the part of northern leadership was notintentional because they just did not know how to perform anything. They had noexpectations either from themselves or from others, they were satisfied withwere they found themselves, complacency became the order of the day as theyknew no better, as they could not see beyond where they were standing, evidenceof incompetence not corruption. As far as they were concerned everything wasnormal, they did not know the difference between performance and noneperformance, when they allowed some ideas and projects to be executed, theywere unsuited and were devoid of the abilities and skills to grasp what exactlythe ideas and projects were supposed to accomplish in the scheme of things andwhat the final result and output supposed to look like. They heard the wordsbut did not comprehend them, so whether a project was done half way, well doneor not at all did not matter because the skill to do the evaluate did notexist, particularly when the highest level of education attained by almost allthe northern military boys at that time was secondary school obtained frommostly moslem school. The moslem education still does not explain theincompetence of the north because some other moslem countries like Indiaand Pakistaneven Indonesiaare doing better than Nigeria.The north had no understanding of administration, no understanding ofeconomics, no understanding of employment, no understanding of social welfare,no understanding of technology and most importantly no understanding of theirsynergy. The northern leadership had no dreams for themselves, for their peopleor for the nation. They couldn’t dream dreams, when they dreamt something, itmade no sense to them and they could not do anything with it, this is notcorruption, this is not bribery or greed, this is incompetence. The only reasonthat can explain the unbridled and ubiquitous nature of corruption, bribery andgreed that are ravaging the country is because the competence requisite tocheck them is absent.

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Nigerian’s problem is not bribery, not corruption not evengreed rather our fundamental problem is “incompetence”

Definition

Competent corrupt societies are societies that have theinbuilt mechanisms to self-correct and self-adjust because the fundamentalfoundation of those societies are situated on “COMPETENCE”

Incompetent corrupt societies are societies that do not havethe inbuilt mechanisms to self-correct and self-adjust because the fundamentalfoundation of those societies are situated on “INCOMPETENCE”

Something thatcontinues to confound me is how smart, informed, bright and even ourintelligentsia, the la crème de la crème of our society are sometimes sweptaway by clichés and simplistic analysis. The instinct of the uninformed,ill-informed, the ignorant and the lazy intellectual is to gravitate towardssimplicity but the serious and the informed must incline towards seriousprobing beyond the façade. It is still true that if you repeated anything, alie, statistics or even rumor many times enough people will start thinking andbelieving that it is true. That is the case in Nigeria particularly to theextent that a particular group (Yoruba) controlled the communication mediasince after the civil war to the present and made it practically impossible topresent a counter fact to the most inane and serious distortions. Becauseof the strangle hold the Yoruba had on the mass media and the absence of anyserious countervailing arguments and facts, propaganda, deliberatemisinformation and distortions became facts and historical references and weare all worse off for that. Most of us have bought into what I consider adiversionary assertion that bribery, corruption and greed are responsible forour problems in Nigeriawithout caring to question that assertion and to probe beyond it.

What I willtry to do is to attempt to answer the poser from one of the forumites “whatis ailing Nigeria?The simple answer to what is ailing Nigeriais foundational incompetence and I will explain later. My hope is that my styleof approach will be disencumbering rather than discommoding. Let me right awayaddress head on the most fundamental misconceptions that have now taken hold ofevery analysis on the forum, and that is the mantra that corruption, briberyand greed are actually the main problems facing the nation. The reality is thatneither corruption nor bribery or greed that every Dick and Harry is humping onall the time are the fundamental problem facing the country particularly asregards Nigeriaand other moribund societies. Not that we do not have corruption, bribery andgreed as problems but that they are like visitors that can be chased out ormanaged when the owner of the house returns. Corruption, bribery and greed aremore or less symptoms of a more deadly disease called incompetence. It is thepresence of near to absolute incompetence that breeds unbridled corruption,bribery and greed and not the other way around. For clarity sake, I decided tovisit the dictionary for the definition of incompetence and it says thus "Inadequatefor or unsuited to a particular purpose or application, Devoid of thosequalities requisite for effective conduct or action, and not possessing thenecessary ability, skill, etc. to do or carry out a task", and theopposite is the case for competency. The point is not that corruption and otherills do not exist in societies where competence is abound, no, but that anysociety that is rich with competent people has the capacity to self- correctwithout littering its surrounding with disastrous collaterals damages. Typicalexample is the United Stateswhich is a competent corrupt society that has its share of corruption, briberyand greed but at the same time has mechanisms to check and correct corruptionwhenever it is discovered. That mechanism is called competence. You see,competence is like a grown up in the house who manages a family with childrenand keeps everybody in check and slaps out of control kids into order.Incompetence is like a house without a grown up and the family spines out ofcontrol just like Nigeria.For the sake of not being misunderstood, it is important that I stay with thatelement called incompetence. When I use the word incompetence, I am reallysaying the following - lack of vision, foresight, productivity,perseverance, imagination, industry, commitment, diligence, transparency;determination, sacrifice, idealism, professionalism, dreams, honor, respect,integrity, role model, probity and other relevant virtues. I am reallytrying to cover all the angles because the situation in Nigeriahas been compounded and muddled up that the faint hearted and the lily mindedare having great difficulty navigating through the maze.

To give you aninstance of how bewildered folks are, I had a conversation with a friend, so Ispent some time espousing the necessity for competent leadership and after Iwas done with what I thought was excellent presentation, my friend came back inhis effort to contribute to the conversation and injected that the other thingthe country is lacking are role models. I wondered amusingly if there is anydifference between competence and role model. What is interesting about myfriend’s response was that that is typical of the kind of conversation that isgoing on in the forum and other places. As far as he was concerned, role modelas a virtue is separate and different from competence. The question becomes howdo you create role models and what produces a role model. The simple fact isthat it is the collective efficacies and consequences of some ones competentexploits that are coined as rule model. In other words, the attributes of arule model flow from his/her manifest competent behaviors. I dare say that rolemodel’s attributes hardly flow out from incompetence exploits. The point is howsimple and complex it is to explain and analyze the 40yrs plus of Nigeriannightmare. The problem we face is typical of my folks who failed to make thesimple connection between role model and competence and not understanding thatthey are actually the same, although one flows from the other. If you are acompetent person you are considered a role model, if you are incompetent youare not considered a role model simple.

Beside thefact that competent corrupt societies like U.S.,U.K., Japan,Germany andother developed countries that have their share of bribery, corruption andgreed and are surviving, I will like to use South Korea to illustrate what I considered ascompetent corrupt society. As I indicated earlier competent corrupt societies havein built mechanism to self-correct and South Korea quintessentially fits the model. South Korea as a country had tumultuous beginningwith the military ruling the country for most part of the country’s existence,mirroring in a way Nigerian history with the military. Corruption, nepotism,bribery and many unholy alliances were prevalent in South Korea, and that notwithstanding thegovernment of the day still undertook aggressive economic development thatrevised their import based industrialization to export based industrializationthat benefited the local textile industry to make South Korea self-sufficient. South Korea even under military detectorshipscontinued to invest in their heavy industry thereby making South Korea more competitive in the world market.This does not mean that South Koreadid not have its share of economic down turns, but the government continued toexpand the heavy and chemical industry and the capacity to for steel productionand oil refining. Nepotism and favoritism plagued the government as theyextended government largess to supporters and friends that created largeconglomerates called chaebols that came to dominate the domestic market.From1980 the country embraced representative democracy and stands as one of theworld’s top economies in high-tech manufacturing. The success of South Korea as one of the major Asian power isexemplar. The South Korean reference is apropos for this discussion. My effortis to disabuse folks that keep blaming corruption for the nightmare called Nigeria.The fact is that every industrialized country is struggling with some degree ofcorruption and bribery. Braziland India Pakistan are also grappling with these ills but that has not stoppedthem from industrializing their countries. The question is why is it that thesecountries notwithstanding the corruption, violent crime, functional illiteracyand bribery in their societies were still able to adopt policies that pushedthrough economic development. If we all agree that Nigeriahas the same challenges that these aforementioned countries have, it is onlyreasonable to infer that the leadership of these other countries possess thatsomething called je ne sais quoi that Nigerian leaders do not have and thatsomething is competency. Competency has a way of making its mark even in theworst of circumstances that after the dust clears its manifestations will notbe in doubt. Every solution to Nigerian problem is pointing to one thing onlyand that one thing is competence, the only thing that can check bribery, corruptionand greed and keep them under manageable level. Isn’t it interesting that theIgbo against all odds are thriving in Nigeriaeven in the mist of corruption, bribery and greed, so why are Hausa and Yorubadepending on the loot from the treasury and co operations. The answer iscompetence.

Enter the Hausa Incompetence:

Contrast the success of competentcorrupt societies with the failure of incompetent corrupt societies like Nigeria.I defined earlier an incompetent corrupt society as a society that lacks theinert mechanism to self-correct and self-adjust for the betterment of itssociety or a house without a grown up. Since after the war Nigeriahas been living the life of an incompetent corrupt society that lacks thenecessary capacity, ability and skills to self-correct in order to carry out atask of improving the lot of Nigerian. It is important to note that after thewar the north held sway, they had total and absolute control, they had totalfreedom, they had no opposition because the opposition had been decimated. Igbowas leaking its wounds. The north had the freedom to take the country in anydirection they chose without opposition, to make Nigeria in its own image, ifyou think about it, they sure made Nigeria in their image, squalor, illiteracy,ignorance, crime, death, murder, hopelessness, stagnation, disillusionment,indiscipline, disaster, unfulfilled dreams, indifference, neglect, overnightmillionaires and billionaires, disappointments, bribery, corruption and greedbecame the new normal, the question is what happened? What happened was thatthe British helped to institutionalized Kakistocracy and incompetence prevailedover competence and became the order of the day if you ask me? As we will see,the north exhibited incompetence of the highest order with its attendantcorruption and blight without the necessary mechanism to self-correct andself-adjust. Even before the north got power, they knew that they were illprepared for the responsibilities, when they got the power, they had no clue whatto do with, they did not know what military and political power were used for,they became confused, they became a sitting duck, they became rudderless, evenwhen they were advised, they could not use the advise because they did not havethe requisite ability and skills to judge the advise right or wrong. When theydelegated responsibility they lacked the ability to evaluate what the resultshould be, for that reason it was difficult for them to request for anyfeedback when they had no clue what the feedback is supposed to look like. Ifthey cannot tell difference between what they are looking for, how can theycheck mate bad behaviors from good? This is incompetence not corruption. Beforethe northern military took power, literally, everything in the system wasworking, education, health, water supply, electricity, road infrastructure,Nigerian railway, ports authority, national shipping line, the business andcommerce industry were all thriving. It is pertinent to note that the north didnot meet the systems in their primitive stage, they had systems that wereworking, as a matter of fact Nigeria experienced incredible economic expansionimmediately after the war in part because the Igbo land was militarized andunbeknownst to the leadership the army spent majority of their salaries in Igboland which managed to keep the Igbo economy afloat and plus other foreigninvestment into the country. When the demands of leadership came knocking onthe door of the northern leadership, what answered and opened the door wasabject incompetence, absolute intellectual vacuity, visionlessness andhopelessness. The leadership was found to be inadequate, unsuited, devoid ofthose qualities requisite for effective conduct or action and not possessingthe necessary ability and skills to carry out the tasks of leadership. What wasmost disturbing was that the northern leadership knew it, the British mastersknew it, the Igbo knew it, the Yoruba knew it, the world knew it and theBritish went ahead anyway to convince the north that they can lead the countryeven over the objection of the northern leadership that they cannot. Themanifest absence of vision, objectives, direction, hope and the cluelessness ofthe northern leadership created a vacuum that laid the foundation and fertileground for unbridled bribery and corruption to breed, fester andmultiply. This is incompetence not corruption. The absence of competenceis our problem. When the northern leadership was found vacuous, opportunist andschemers filled the vacuum they found with their whims and caprice and thenorth could not self-correct or correct others because they did not possess therequisite elements of competence. This is incompetence not corruption, thoughcorruption later filled that vacuum that was created but it did not come first,it came second after it discovered that competence was not home. In orderwords the north being in charge is like having no grown up in the house and therascals came in and ransacked the house. What is most heart breaking is thefact that the northern incompetence knew no bounds, the least that could havebeen expected from the northern leadership was taking care of northerncitizens, favoring them and raising their standard of living relative to therest of the country but that did not happen. The fact that they could not do itis incompetence not corruption. The northern leadership could not improve theeducation and literacy, health -infant mortality, water, road infrastructure,economics and the overall wellbeing of the northern citizens. The question iswhether the failure of the northern leadership to improve the lot of thenortherners was deliberate? The answer is no but more of the manifestation ofincompetence and not corruption. They were clueless which is equal toincompetence. The north today has the highest illiteracy rate in the wholeworld, infant mortality, blindness and myriad of other problems. The north isworse off amongst the whole groups in Nigeriain all indices used to adjudge standard of living. The welfare of the northcould have been more worse if it were not for the work of non-governmentalorganizations from the southern part of the country that provide preventive andpalliative services in place of the total absence of government services. Folkshave always wondered why Nigeriais in this state of anomie, all I ask is for folks to look to the north andthey will find the answer. Folks should ask the question, how can the north dofor the whole nation what they could not do for their northern people, thesaying that you cannot give what you do not have, the north could not give thatwhich they did not possess and that is competent service.

Ladies andGentlemen, what I am contending here is that what the northern leadershipdemonstrated was not bribery, was not corruption or greed, what theydemonstrated was peter’s principal at work which was basic incompetence becauseit is evident that as much as one will agree that the north had a reason tohold malice against the east, there was no evidence that they extended thatmalice to their northern brethren, nor was there evidence that the leadershiphated their citizens, so their failure to take care of the welfare of thenorthern people and to make them better than the rest of the nation could onlybe seen as innocent and inert ignorance and not corruption. They failure tounderstand what leadership is all about and failed to make the connectionbetween leadership and the people. In case some of you have forgotten, let meremind you of what incompetence is all about: being Inadequate for or unsuitedto a particular purpose or application, Devoid of those qualities requisite foreffective conduct or action, and not possessing the necessary ability, skill,etc. to do or carry out a task". I want the reader to pay attention to thewords "unsuited, devoid, and not possessing and that will capture the cruxof my argument. You have to be devoid of something serious to fail ineverything. That north is simple and short not suited for the purposes ofleadership and that is why they can not stop all the bad things that arehappening. There were plenty of evidence that the north in most part wereinnocent and not corrupt nor were they inclined to bribery until years laterwhen the leadership vacuums they created were filled by others who were equallyas incompetent as they were. The north did not start out not to bring thedividend of their leadership to the people, ironically they did not even trybecause they did not know how to try or what to try or do, they weresuper-morosed, and they simply vegetated throughout their leadershipreign. The lack of performance on the part of northern leadership was notintentional because they just did not know how to perform anything. They had noexpectations either from themselves or from others, they were satisfied withwere they found themselves, complacency became the order of the day as theyknew no better, as they could not see beyond where they were standing, evidenceof incompetence not corruption. As far as they were concerned everything wasnormal, they did not know the difference between performance and noneperformance, when they allowed some ideas and projects to be executed, theywere unsuited and were devoid of the abilities and skills to grasp what exactlythe ideas and projects were supposed to accomplish in the scheme of things andwhat the final result and output supposed to look like. They heard the wordsbut did not comprehend them, so whether a project was done half way, well doneor not at all did not matter because the skill to do the evaluate did notexist, particularly when the highest level of education attained by almost allthe northern military boys at that time was secondary school obtained frommostly moslem school. The moslem education still does not explain theincompetence of the north because some other moslem countries like Indiaand Pakistaneven Indonesiaare doing better than Nigeria.The north had no understanding of administration, no understanding ofeconomics, no understanding of employment, no understanding of social welfare,no understanding of technology and most importantly no understanding of theirsynergy. The northern leadership had no dreams for themselves, for their peopleor for the nation. They couldn’t dream dreams, when they dreamt something, itmade no sense to them and they could not do anything with it, this is notcorruption, this is not bribery or greed, this is incompetence. The only reasonthat can explain the unbridled and ubiquitous nature of corruption, bribery andgreed that are ravaging the country is because the competence requisite tocheck them is absent.

Enter Yoruba Incompetence:

The presence of the Yoruba inthis whole cesspool will once and for all prove my point that incompetence ofthe crippling order is responsible for Nigerian malaise rather than Bribery,corruption or greed. It is easy to make the argument that the reason why thenorth was incompetent was because they were not well educated, that majority ofthem had only high school education, that they were naive young men andill-informed. Only when you discover that the northern leaders understood theirshortcoming and literally handed over the running of the government to theYoruba to handle the day to day operation of the government and the Yorubacould not do any better than the Hausa. I will like to state without fear ofcontradiction that Yoruba has well educated people in every field ofendeavor-engineering, law, economics, name it, they have people there but thatis where the credit ends. The understanding was that the educated Yoruba wasgoing to help the ill-prepared north to administer the affairs of the countryby complementing the north that was mainly in the military. In order words, theYoruba supposed to take care of the administration, economy, the technologicalinnovation and development of the country into the 21st century. What Yorubaproved unequivocally, at least we have more than forty years of history tosupport it, is that acquiring education to PH.D level does not automaticallymake you a competent person. One cannot question the educational achievement ofthe Yoruba because they are one of the most educated groups in Nigeria.The question that Yoruba has to answer is what went wrong? What did they dowith their education when it came to managing Nigeria?The Yoruba had the education, the engineers, the architects, the lawyer,economists, technologists, the numerical numbers, the ministers, directors, themedical doctors, the high positions, the unrestricted authority, the power, youknow what? the Yoruba had cart Blanche. They even had total control of thecommunication media. As established above the Hausa needed the Yorubagiven the fact that they got into power ill-prepared, they hoped that theYoruba will use their education and intelligence to help navigate the ship ofthe country. As history has shown, the Yoruba dropped the ball big time and arestill dropping it as we speak. Most Hausa that are in the know will tell youthat it is true that Yoruba are well educated but that they are as incompetentas the north is. What called the competence of the Yoruba into question wasthat from the day Yoruba occupied the center stage in piloting the affairs ofthe country, the country did not progress an inch from where Yoruba mate itrather the country regressed and lost everything that Yoruba touched ormanaged. Yoruba simply ravaged, pillaged and looted every government ministry,department, agency, business, cooperation, you name it. Gowon’s administrationwas considered corrupt because of the wanton, unmitigated, unrestrained lootingand corruption of the Yoruba that was recruited to help run the country. It isa known fact that Yoruba thought the north how to be corrupt. Monkey see andmonkey do. After watching the Yoruba pillage and loot, the north figured thatthat is normal and that that is how educated people behave and they joined thebandwagon. So you have now two tribes with the biggest population that see thelooting and destruction of everything they touch as business as usual andNigerians are wondering what is wrong with the country, why is the country socorrupt. The country is corrupt because Hausa and Yoruba are incompetent tomanage the affairs of the country.

The consequences of the North’sincompetence was critical because if the north were competent, they could havetaken care of the country by themselves or alternatively checkmated the Yorubaonce they starting looting, but because the north did not know any better theysimply joined. The way it happened was that as the north was siphoning andlooting directly from the federal treasury to themselves, the Yoruba were busysucking the life out of all the MDAs and the businesses and cooperations fromthe fallout of indigenization. Interestingly enough Hausa did not bother Yorubaand Yoruba did not bother Hausa, each party was busy minding their business tothe detriment of the whole country. Exactly the symptom of incompetence, yousee, incompetence does not ask questions or get inquisitive because it does notknow what to be inquisitive about and even when it asks a question and gets ananswer; it does not know what to do with. This explains the widespread of briberyand corruption when you have Yoruba and Hausa neck deep into it.

Another caseof incompetence displayed by north was when the Yoruba proposed for theindigenization of foreign companies. It is my belief that none of the northernmilitary leaders had ever heard that word “INDIGENIZATION” before or understoodwhat it meant. In the first instance, the presence of the northerners incooperate Nigeriawas minimal to none, so the north had no comprehension of the ramification ofsuch policies, another evidence of incompetence rather than corruption from theonset. If the north was competent and understood the implications of suchpolicies, they could have objected on many grounds, unfortunately they did notknow any better to checkmate the looting Yoruba rascals. Having demonstratedthat the Yoruba failed to lead notwithstanding their education, the question iswhat is the difference between the leaders of countries like South Korea, Braziland India thatsucceeded in the face of challenges and the Yoruba leaders that failed? Thefact that Yoruba cannot claim lack of education, they cannot claim lack ofopportunity and they cannot claim that they lacked the unrestrained authorityto act, the only thing that the other leaders have that the Yoruba lacked iscompetence. The way it works is that the absence of competent creates a vacuumthat is quickly filled by the ills of societies like bribery, corruption,greed, crime, murder and so on and so on. To further drive the point home, cananyone recall one single Yoruba official that has done something so noble andhonorable to improve the lot of the whole nation rather pursuing self-interestthat Nigerians could look back and sing his praise? The answer is no, but Iwill like someone to proof me wrong. That is a proof of incompetence firstbefore corruption. As a matter of fact you can trace the origin of all themillionaires from Yoruba and Hausa to one corruption or the other or governmentcontract. Fighting corruption in Nigeriais like fighting Hausa and Yoruba and I think that that is a daunting task. Thesimple fact that after Yoruba took total control of Nigerian economy and theycould not improve the socio-economics and technological development is a signof nothing but incompetence.

The injectionof competence in Nigerian system will see a gradual improvement inaccountability and progress. Typical example is that Hausa and Yoruba have gonein and out of ministerial positions for decades without anything to show for itand that is why no one can remember their names or what they did but when youmention the name of people that have demonstrated competence, people rememberthem and what they accomplished, people like Charles Soludo, ObiageliEzekwesili, Ogozi Okonjo-Iweala, Dora Akunyili and Dr. Bert Nnaji to mention afew. Notice that these folks did not have unrestrained authority, they did nothave cart blanche but were able to make a different despite the challenges justlike the leaders in South Korea,Brazil and India.What do they have in common? Competence.

I could go onand on but I believe that the point has been made that the problem ailing thecountry is not bribery, corruption or greed rather that our fundamental problemis incompetence and that only competent people can tame the pillaging andlooting going on now and most importantly that Yoruba and Hausa must join thebuilders rather than looters of the system.

Fredrick.

Having Hausa and Yoruba is charge of any thing is synonymousto not having grown ups in the house.

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Wednesday, November 23, 2011 PUNCH NEWSPAPERS

ICPC quizzes Odu'a boss, others

Written by Akinwale Aboluwade

The Group Managing Director of the Odu’a Investment Company Limited, Mr. Adebayo Jimoh, and four other management staff of the company were on Tuesday quizzed by officials of the Independent Corrupt Practices and other-related Offences Commission over alleged misappropriation of N10.3m belonging to the company.

GMD, Odu'a Investment Company Limited, Mr. Adebayo Jimoh advertisement

The anti-graft agency had on Monday invited them to Abuja for interrogation following a petition by the former Estate Manager of the conglomerate, Mr. Ademola Ridwan.

Ridwan called on the ICPC to investigate the alleged fraud involving the lease of the company’s property situated in Apapa, Lagos State while he was an official of the company.

He alleged that rather than being commended for uncovering the fraud, he was sacked while those allegedly involved in the deal were promoted by the management.

It was gathered that those quizzed were the Head of the Human Resources Department, Abimbola Ilori; a former Head of Estate Department, Dare Aseweje; the current Head of Estate Department, Mrs. A. Odutola; and one Adedapo.

The petitioner, who claimed that he was sacked because he exposed the alleged fraud, explained that he became suspicious when he noticed that his signature was forged on two documents that were presented concerning the property.

He said, "I became suspicious because the letter bore my name as a signatory knowing that I did not authorise such a letter and that the company did not mandate any middleman to act on my behalf

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Sophisticated Looting And Stealing Inc.- Massive Corporate Fraud Inc. :- From 1967, 1000 Nigerian Assets, Institutions And Companies Were Looted And Destroyed.The Yorubas Took Over Economic Engine Of Nigeria From 1967. Please Take A Look At All The Nigerian Assets, Institutions And Companies fellow Nigerians Have Looted And Destroyed Since 1967 And Which Has Resulted In Debasing Nigeria And Setting Nigeria 100 Years Backward.

After The Defeat Of Igbos And Economic Blockage Of Igbo From Nigeria Economic Activities Because Igbo Who Were Also Economically Very Viable Then. From 1952 To 1967 The World Was Looking Up To Nigeria To Rival Brazil And The Asian Tigers In Terms Of Economic Activities Because Of The Vibbrancy Of Eastern Region Igbo And Western Region Yoruba.

Nigeria Would Have Been Competing With Asian Tigers (Singapore, Malysia, Japan, China, Taiwan,Etc), Brazil, Argentina, South Africa, America, Europe Etc. In Terms Of Economic Vibrancy, Healthy Economy And Nigeria Being One Of The Richest Country In The World With Zero Poverty And A Heaven For The World, And Africa Would Have Been Lifted Out Of Its Present Misery By Nigeria Which Is What God Planned Nigeria For. But The Yoruba Race And Their Treachery and Lies Destroyed Nigeria, Africa And Black Race Hope For Ever.

Even By 1967 The Northern Nigeria Hausa/Fulani Were Doing Very Well And Fine Managing Their Groundnut Production, Solid Mineral Abundance, And Excellent Management Of Their Northern Nigerian Property Management Company When The North Was In Alliance With The Eastern Nigerian Igbos Before The War.

But As Soon As Yoruba Colluded With The Northern Nigeria All Things Started Going Down Hill.

Today 90% Percent Of These Assets, Institutions, And Companies Have Vanished, Closed Or Liguidated, And The Few Remaining Ones Are In Decline, Unproductive, Below Capacity And Managed By Corrupt Directors, Managers And On The Verge Of Closure Or Being Pursued By Efcc, Police, Icpc, Creditors, Endless Law Suites, Endless Labour Conflicts And Government And Attorney Generals Inquiries Etc. For Massive Corruption And Stealing.

Please Take A Look At All The Nigerian Assets, Institutions And Companies that have been Looted And Destroyed Since 1967 And Which Has Resulted In Debasing Nigeria And Setting Nigeria 100 Years Backward.

University Of Ibadan, University Of Ife, University Of Lagos, Nigeria Ministry Of Education, New Nigerian Bank, Ajaokuta Steel Industry, Nigeria Ports Authority, Chanrai Stores, British American Merchant Bank, Industrial Bank,Nnpc, Nepa, Mapo Hall, Cocoa House, Iita, Nigerian Airways, Nigerian Railways, Nigeria Ferry, Volkswagen, British Tobacco, Plateau Tin Production, Cappa, Gold Mining, Cocoa Farms, Nigerian Lives Stocks, Federal Research Institute Oshodi, Nigerian Fisheries, National Bank, Siemens, Harliburton, Nigerian Police, Nigerian Customs, Nigerian Prisons, Nicon, Nigerian Reinsurance,

“Pharmaceutical Nigeria Plc ,May and Baker Nigeria Plc,Vitafoam Nigeria Plc,Wahum Nigeria Limited ,CAP Nigeria Plc , International Paints of West Africa [IPWA], Berger Paints Nigeria Plc, Berec Nigeria Limited, Kabelmetal, Nigeria Bottling Company Plc, Leventis Nigeria Plc ,West African Portland Cement Company,[Lafarge ],Wema Bank Nigeria Plc, Scoa Nigeria Plc ,CFAO Nigeria Plc, Cadbury Nigeria Plc, Wemaboard Estates, Odua Group, Livestock Feeds Nigeria Plc , Nigerian Breweries Plc, new nigerian Bank, Batta, Kingsway Stores,

Crittal Hope (Nigeria) Limited, Mushin, Lagos State.

• Dunlop (Nig.) Industries Plc, Ikeja, Lagos State.

• Galvanising Industries Limited, Ikeja, Lagos State

• Nigeria Construction & Water Resources Development Company Limited, Ibadan, Oyo State

• Nigerian Wire & Cable Plc, Ibadan, Oyo State

• Nigerite PLC, Ikeja, Lagos State

• Nipol Limited, Ibadan, Oyo State

• Odu'a Textile Industries Limited, Ado-Ekiti, Ekiti State

• Soleh Boneh Overseas (Nigeria) Limited, Ibadan, Oyo State

• Vono Products Plc, Mushin, Lagos State

• Wema Bank Plc, Marina, Lagos

• West African Portland Cement Plc, Ikeja, Lagos State

• Great Nigeria Insurance PLC, Ikoyi, Lagos State

• Glanvill Enthoven & Company Limited

o Guinness (Nig.) Plc, Ikeja, Lagos State.

o International Breweries Plc, Ilesa, Osun State.

o Macmillian Publishers (Nig) Limited, Ilupeju, Lagos

o Nestle Food (Nig) Plc, Ikeja, Lagos State

o Nidogas Company Limited, Lagos State

o Niger Mills Company Limited, Calabar, Cross River State

o Nigerian Aluminium Extrusions Limited, Lagos

o SKG-Pharma (Nig.) Limited, Lagos

o Tower Aluminium (Nig.) Plc, Lagos

o U. A. C. of Nigeria Plc., Lagos

o Niger Delta Explorations & Production Plc,

o Bitumen exploration & exploitation Co. Nig. Ltd.

o African Petroleum Plc

o AIICO Insurance Plc

o First Bank Nigeria Plc

o Flour Mills Nigeria Plc

o Intercontinental Bank Plc

o Nigerian Breweries Plc

o R. T. Briscoe (Nig.) Plc

o Spring Bank Plc

o PZ Industries Plc

o S C O A Nigeria Plc

o Union Bank of Nig. Plc

o United Bank for Africa

o Vitafoam (Nigeria) Plc

o Ecobank Plc

o NIMAPAK Nig. Plc

o Con-oil Plc

o John Holt Plc

O'net Telecomms. Incorporated in 2002 as Odu'a Telecoms Limited, (ODU'ATEL) now branded as O'net. Licensed for fixed wireless Operation on 3.5Ghz and 800Mhz frequencies deploying CDMA Fixed and Mobile Telephony and Internet as well as Broadband Internet for corporate organizations, Institutions and Research Institutes and Virtual Private Network Services for Banks and other Network organizations in all five South Western States of Nigeria and beyond.

Askar Paint Ltd. Askar Paints (Nig.) Ltd. was established in 1961 to manufacture paints and it is well known for its brands-Durosyn and Polyplast. In addition to paints, the company manufactures other chemicals and allied products like glue, clear finish wood preservatives and red oxide.

Cocoa Industries Ltd. Cocoa industries Limited was established in1965 and its Nigeria's first cocoa processing company. In addition to processing cocoa beans into butter powder and cake, the company also produces and markets Vitalo – a cocoa based beverage drink. The company also exports cocoa butter.

Epe Plywood Industries Ltd. Epe Plywood Industries Limited is a major wood processing company. It was established in 1965 for the production of plywood, flush doors, veneer and furniture. It also engages in saw milling business.

Odu'a Printing & Publishing Co. Ltd. Established in 1956, Odu'a Printing and Publishing Co. Ltd. is engaged in exercise books production, security printing, all business and office stationeries, maqazines, journals, annual reports, seasonal greeting cards, calendars, promotional posters & flyers, T- shirts, face caps & plastic ID card printing

Wemabod Estates Limited. Established in 1963. Wemabod Estates Limited is one of the biggest property and estate in Lagos, developing companies in sub-Sahara Africa. Some of its famous properties are: Western House, Investment House in Lagos and Cocoa House in Ibadan, Oyo State.

The Commercial Farmers' Academy. New farmers in Nigeria not only face the challenges of securing land and funding, but also obtaining the management skills and technical know-how to be able to run a farming business successfully in today’s business environment. In the light of this, Odu’a Investment Company is establishing a commercial farmers’ academy to provide top quality practical skills training to new and emerging commercial farmers in this part of our country.

Westco Farms Ltd. Westco Farms Limited (RC 640323) Incorporated on 30th November 2005 is the new joint purpose vehicle established by Odu’a Investment Company Limited and Shepherd Agriculture (Africa) from South Africa. It is therefore a subsidiary of Odu’a Investment Company Limited.

The company will be involved in:

a. Aquaculture using the new floating cage system designed to achieve an initial target of 100 tons of catfish per annum. The technology is a new innovation in aquaculture engineering and fish friendly system that will derive the most from the fish.

b. Commercial Farm Training centres located in all the states of the South West to encourage and teach subsistence and so called small-scale farmers to make their farming enterprises profitable ventures. The training will consist of applied technical knowledge, practical farming skills and Farm Business Skills with the slogan “Training people in the business of farming”. The Academy will be modeled after the Buhle Farmers’ Academy of South Africa.

c. Cultivation of arable crops such as maize, sorghum and soya using improved seeds, proven technology and tested management skills that ensure high yield per hectare of cultivated farmland.

Fisheries Services Company Limited Fisheries Services Company Limited was established in 1973 to provide cold storage facilities, wharfage, bunkering and repair services to fishing companies operating at Ijora, Lagos State.

E & O Power & Equipment Leasing. Established in August, 2005, the company's main business lines are sales, maintenance and leasing of Power Generating Set – 17.5KVA – 1000KVA & cooling equipments.

Western Hotel Ltd:

E & O Power & Equipment Leasing. Western Hotels Limited is made up of two hotels. Premier Hotel with 87 rooms and Lafia Hotel with 60 rooms. The rooms are well designed and furnished to standard with swimming pools and a Casino. The two hotels engage in outdoor catering for all occasions

Lagos Airport Hotel Limited. Lagos Airport Hotel started business in 1942 as Grand Hotels and was later expanded and renamed Ikeja Arms Inn in 1956. In 1961, it became known as Lagos Airport Hotel. It is located on the popular Obafemi wolowo Way, Ikeja, Lagos State. It has a total of 277 rooms, three restaurants, a standard swimming pool and a number of conference rooms. The hotel also engages in outdoor catering for all occasions.

Odu'a City Hall.

ODU'A CITY HALL is situated within the Cocoa House complex The hall is for commercial letting for AGMs receptions, dance etc.

QUOTE "Nigeria- Biafra war was supposed to have been officially over, it was not enough to murder Igbo and their babies in millions, the treacherous Awolowo who was now on Gowon's payroll, who Ojukwu should have let rot in prison again started marginalizing Igbo Biafrans by confiscating Biafran accounts and looting their hard earn money, giving the Igbo persons 20 pounds each regardless of balance (and interest).

The "Indigenisation Decree", another bastard policy which followed soon after the arbitrary award of 20 Pounds completed the routing of Biafrans from the commanding heights of the Nigerian economy.

Only two years after the war supposed to have ended, when Igbo (Biafrans) were still in their economic doldrums, Chief Obafemi Awolowo [the Finance Commisioner under Gowon ] then auctioned the Nigerian economy to the Nigerian "indigenes" with the Enterprises Promotion Decree 1974(so-called). He started selling off government and foreign owned properties to "Nigerians" knowing very well that he had just made the Biafrans/Igbo virtually bankrupt.

This was of course deliberate, and done to reverse the Hausa/Fulani/Yoruba fear of "Igbo domination" also to spite the Igbo/Biafrans futher. The timing of this policy was to ensure that there was effective exclusion of the Biafrans/Igbo from ownership in Nigeria's industrial sector, since after confiscation of the money and bank accounts they would no longer have the financial muscle to participate. As "the vanquished"[Biafrans/Igbo] were dispossessed of what they had, "the victors"[Hausa-Fulani-Yoruba] were deliberately empowered through the banks to purchase the Nigerian "national"(illusionary that is) patrimony.

Despite this particular anti-Igbo policy, the Igbo are still thriving such that they could easily produce the most educated people in Nigeria and even in Africa. Despite after all this he did for the Caliphate and Nigeria, he still never became president of Nigeria even for 1 second. Yes he was be "The best president Nigeria never had". Unquote

"The Nigerian government policy of "starvation as weapons of war" as crafted by Awolowo to which he was never forgiven by Igbo. We can also detail the facts that even after the war, Awo and Nigerian government kept all Igbo money, gave them only 20 pounds to every igbo who had money in the banks as punishment for defending themselves and his continued starvation as weapons of war and annihilation. In a nuthshell Igbo were left to die, I remember my uncle coming home with 20 pounds and wondering what anyone could possibly do with twenty pounds as opposed to thousands of pounds he had in the bank from oil and Petroleum business before and during the war."

Cornelius Thursday, April 29, 2010

QUOTING CHIEF EDWIN CLARK ON THE WAR AFFECT ON IGBO" "The harsh post-war economic policy immediately converted Igbo businessmen into street hustlers. Those in the corporate world lost their positions and had to begin new professional careers. Importation of stock fish was banned to deny Igbos their only means of protein after the war. (Remember that most livestock were lost during the war). This was followed by the problem of abandoned property implemented mainly by the old Rivers State." CHIEF EDWIN CLARK . IGBO PROPERTIES WERE SEIZED ALL OVER NIGERIA AND MANY WERE UNDERVALUED AND SOLD AS AUCTION AND AT AUCTION ALL OVER NIGERIA FROM 1967 TO 1980.

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YORUBA GREATEST HEIST AND LOOTING OF NIGERIA AND AFRICA

---------- Forwarded message ----------
From: FREDRICK ONWUMBIKO <fonwu...@gmail.com>
Date: Thu, Aug 16, 2012 at 6:35 AM
Subject: [IgboWorldForum] THE GREATEST HEIST IN MODERN HISTORY BY AWOLOWO AND THE YORUBAS
To: IgboWor...@yahoogroups.com, Jonas Okwara <jok...@verizon.net>, oad...@yahoo.com

THE GREATEST HEIST IN MODERN HISTORY BY AWOLOWO AND THE YORUBAS,

KNOWN AS INDIGENIZATION OF FOREIGN COMPANIES IN NIGERIA

This piece was prompted by what I saw as benign ignorance amongst some of our Ibo folks and because such ignorance is music to the ears of some other people and Yoruba in particular. In more than one occasion my friends and other Ibo have advanced the argument that if Ibo was that smart, how come Yorubas dominated the commerce industry in Nigeria? What they meant were the domination of Yoruba in the banking, insurance industries, Coco Cola and some other surviving industries. In one particular occasion a friend revealed to me that he recently discovered that the reason why some Yoruba are so wealthy is because they were smart enough to invest their money in corporate stocks and bonds (not realizing that Yoruba actually stolen those corporations) while Ibo is busy engaging in buying and selling. The Yoruba will like people to continue to believe that story, that it was because they were smart that they were able to do all these great investments in the commerce industry. One relevant question that I always managed to ask my interlocutors is whether they were aware of the indigenization decree of 1972, master minded by Awolowo and the Yoruba and the ramifications of that policy, as will be expected, the answer ranged from, I have heard of it but does not understand what it actually meant to I have not heard of the policy. Listening to this ignorance induced perspective from my friends made my heart to skip a beat, realizing that the task of bridging this information gap is not going to be a child’s play. What is disconcerting is that some in their benign induced ignorance believe that the effect of indigenization is inconsequential at this time because it happened about forty years ago. This piece is therefore for those that are educable and for those that have the capacity to appreciate the magnitude and most importantly for those that can relate that gigantic economic event that reshaped the economic foundation on which Nigerian economy settled on after the British/Biafran war and as well as relate our present economic malaise to that economic foundation engendered by indigenization.

There is no doubt that most people, particularly those that do not have either basic or international economics background are overwhelmed by the subject of INDIGENIZATION OF FOREIGN COMPANIES IN NIGERIA because of their inability to understand the economics of it and the efficacies to make the necessary connections and relate it to the present economic doldrums, some simply brush it aside or worse, simple minimize its far reaching implications particularly on the Ibo. In so doing, majority of us dabble into analysis of how terrible Ibo has managed their affairs since after the civil war, while leaving out a huge chunk of the elements that need to be factored into their analysis. The unspeakable effect of the policy of indigenization on the Ibo was wicked and dastardly. The economic damage on the Ibo is impossible to calculate. The psychological toll on the Ibo is still reverberating amongst the Ibo today and creating identity crisis. Some folks will argue that we should drop the subject because it happened forty years ago, which is equivalent to saying that because slavery, Jim crow and the holocaust happened years ago, and for that reason, they have no relevance in today’s analysis. How can any credible analysis of American history not include slavery and its implications, or how can any Jewish history not include the holocaust and its implications and effects, but that is what some folks want us to do, to avoid or forget one of the most devastating economic policies that changed the economic landmark of Nigeria, second to the genocide of more than a million Ibo committed by the same man, Awo, and still arrive at any meaningful analysis. I believe that the incredulity that any ethnic group is capable of visiting such devastation on another is still an obstacle that the subject is struggling against and must overcome. It is not that most people do not know what happen, it is simply that they do not what to believe that it happened because it is mind bending. I also believe that if we do not tell the story over and over, the Yorubas will not tell and neither will the Hausa tell it, as a matter of fact they always wish that it will go away. So whether they like it or not, we must continue to broadcast what happened until people start to understand the effect of the policy not only on the Ibo but on the nation as a whole. Suffice to say that after Awo and the Yoruba succeeded in executing the indigenization decree and became overnight millionaires, many Ibo packed their bags and left Lagos to the east –ala Ibo, where they shortly died out of heart break because some of them also suffered the deprivation of their properties due to abandon property policy in Lagos and Port harcourt.

WHAT ENGENDERED THE INDIGENIZATION POLICY?

It is no more news worthy to point out that before the civil war that Ibo out of their capacity for honesty, to work hard, to produce, to innovate, to manage, create and persevere were able to penetrate all facets of Nigerian endeavor, when the British used merit as a yard stick. It is an irrefragable fact that even Yoruba would not dare challenge that fact, if not, what started the Yoruba hate, envy and jealousy against the Ibo in the first place, Yoruba and Hausa claimed that Ibo was dominating everything in the country but what they will not acknowledge publicly was the fact that the British were making the decisions about who to hire by their own standard and not by Ibo standard and that Ibo was good at what they did and better than them. The Yoruba and Hausa wanted not only equal opportunity they also wanted equal outcome regardless of effort and everyone knows that that is impossible.

There is one very important fact in my analysis that I want everyone to get, and that is that before the civil war, Nigeria as a nation did not have an economic of its own. Let me say it again, that Nigeria as a nation before the British/Biafran civil war did not have an economy of its own. I emphasized that point in other to say that whatever seemed like Nigerian economy were British owned. Put differently, if you excluded few of the regional cooperatives and some joint ventures businesses which were mostly British engineered to make buying raw materials easy for the British, ever y other aspect of the economy were owned majorly by the British, even the military, given the fact that almost every military supply came from Britain. It is then save to say that British investment in Nigeria amounted to a great totality of Nigerian economy or that Nigerian economy was at that time synonymous to the total investment of the British.

Below, courtesy of Africa today are the list of some of the companies that constituted Nigerian economy before the war that the Yoruba stole in one swoop, spanning the insurance companies like Lloyd’s of London and all the banks in Nigeria owned one way or the other by the British. This is but a partial list of what constituted the British investment in Nigerian economy.

“Pharmaceutical Nigeria Plc ,May and Baker Nigeria Plc,Vitafoam Nigeria Plc,Wahum Nigeria Limited ,CAP Nigeria Plc , International Paints of West Africa [IPWA], Berger Paints Nigeria Plc, Berec Nigeria Limited, Kabelmetal, Nigeria Bottling Company Plc, Leventis Nigeria Plc ,West African Portland Cement Company,[Lafarge ],Wema Bank Nigeria Plc, Scoa Nigeria Plc ,CFAO Nigeria Plc, Cadbury Nigeria Plc, Wemaboard Estates, Odua Group, Livestock Feeds Nigeria Plc , Nigerian Breweries Plc, new nigerian Bank, Batta, Kingsway Stores, Crittal Hope (Nigeria) Limited, Mushin, Lagos State. Dunlop (Nig.) Industries Plc, Ikeja, Lagos State. •Galvanising Industries Limited, Ikeja, Lagos State. •Nigeria Construction & Water Resources Development Company Limited, Ibadan, Oyo State •Nigerian Wire & Cable Plc, Ibadan, Oyo State •Nigerite PLC, Ikeja, Lagos State •Nipol Limited, Ibadan, Oyo State •Odu'a Textile Industries Limited, Ado-Ekiti, Ekiti State •Soleh Boneh Overseas (Nigeria) Limited, Ibadan, Oyo State •Vono Products Plc, Mushin, Lagos State •Wema Bank Plc, Marina, Lagos •West African Portland Cement Plc, Ikeja, Lagos State •Great Nigeria Insurance PLC, Ikoyi, Lagos State •Glanvill Enthoven & Company Limited ◦Guinness (Nig.) Plc, Ikeja, Lagos State. ◦International Breweries Plc, Ilesa, Osun State. ◦Macmillian Publishers (Nig) Limited, Ilupeju, Lagos ◦Nestle Food (Nig) Plc, Ikeja, Lagos State ◦Nidogas Company Limited, Lagos State ◦Niger Mills Company Limited, Calabar, Cross River State ◦Nigerian Aluminium Extrusions Limited, Lagos ◦SKG-Pharma (Nig.) Limited, Lagos ◦Tower Aluminium (Nig.) Plc, Lagos ◦U. A. C. of Nigeria Plc., Lagos etc.

The necessity of inserting this partial list of the companies/assets that existed before the war was to give the reader a sense of the extent of what the issue is all about and who owned what and when. The Yoruba hardly owned much of anything or any of these assets listed above except in some regional joint cooperative ventures with the British.

The story went like this, before the war the Ibo dominated the economic work force followed by the Yoruba, when British/Biafran war started, Ibo, for their safety left their jobs in different parts of the country to return to the east, the Ibo land. After the end of the war, the Ibo went back to seek for their jobs that they left for security reasons, the Yoruba who took advantage and occupied the positions that Ibo left decided that they will not relinquish those position because according to the Yoruba, Ibo abandoned their positions and do not deserve their position back, reminiscent of the abandon property thievery in Port Harcourt River State and Lagos. However, a dynamic developed as Ibo every morning dressed up and went and occupied the lobbies of their different offices that they used to work in. Tell me, if this is not manifest bravery of the highest order ever exhibited by any group in Nigeria and we are talking about days and weeks immediately after the war was declared over. But the final say as to whether or not the positions that Ibo left for dire life was going to be declared abandoned rested on the British that owned these companies. As the back and forth went on, the British started angling to make an economic decision because they understood the difference between the Ibo worker and the Yoruba worker and the three years of the civil war made that difference even more crystal clear to the British, if not, why would the British bother to accommodate the Ibo after such a long time? What became clear to the Yoruba was that the British were willing to make extra provision to re-absorb the Ibo any way possible.Yoruba was not ready to tolerate any of that because they knew that it was a matter of time before the wheat will be separated from the shaft that Ibo will assume their prominent positions. In order to prevent the British from re-absorbing the Ibo into these British owned companies, the corporate Yoruba decided to solicit the help of Awolowo who was then the finance minister and chairman of the federal military council.

This is where a plan was hashed to wrest the control of these companies, consisting of banks, insurance companies, corporations of different kinds and types from the British. The best way Awo and his cabal found fit was to convince Gowon and the military leadership who in all probability have never had the word indigenization in their lives to promulgate the INDIGENIZATION DECREE in 1972 that stipulated that every foreign owned venture must transfer majority ownership to Nigerian indigenes within a year of the promulgation of the decree or they will forfeit the assets of the company to the Nigerian government. (Emphasis within a year) As expected, the British were caught off guide, not understanding the motive behind the policy, the British thought it was a dream or a joke that will go away, particularly given the fact that they just won the war against the Ibo for the Yoruba and Hausa. After exhausting six months out of the one year in their bid to reverse the decree, the British became frantic and concluded that they could not reverse the decree and went about trying to salvage whatever they could. What was worst was that the British did not even have enough time to evaluate the worth of their ventures because of the limited time the decree allowed, courtesy of Awo and cabal. The situation gave chaos a new name because the British were in chaos. So the first problem the British ran into was limited time that they couldn’t figure what the value of majority of their ventures were, they could not tell how much to sell them for. Mind you that this was happening within a year after the end of the civil war. At this time the Yoruba was running every conceivable federal ministries, departments and agencies plus all the corporations listed above and more that the British owned. It is important to point out that the north had little or no presence in the commerce economy of the country before the war and after the war except in the military leadership and infantry. The economy of the country was dominated by Ibo first and Yoruba second before the war. In order to solidify the economic dominance that the Yoruba attained during and after the war and to make their position even more potent in acquiring the British spoils, Awo as the finance minister and chairman of the federal military council and his Yoruba cabal decided to economically emasculate the Ibo understanding

a)That Yoruba was fully running every conceivable federal parastatals

b)That Yoruba was running every conceivable corporation that the British owned or had majority ownership as listed above.

c)That Yoruba was managing all the Nigerian banks, insurance corporations, National shipping line, Nigerian airways, Nigerian’s Ports authority, Nigerian Railways and all the ministries, Departments and Agencies conceivable.

Decided to destroy whatever was left of the Ibo and putting a finishing touch to it by

a)Stealing through confiscating all the millions of pounds that Ibo had in all the Nigerian banks

b)Offering every Ibo person #20 pounds regardless of how many millions they had in the Nigerian banks before the war.

c)Militarizing every part of Ibo land.

d)Rendering every Ibo without exception a pauper.

e)Banning every importation of stock fish and used clothes to deprive the Ibo of any economic ability to compete with the Yoruba in buying into the British assets.

When that day of infamy arrived for the British to start selling their assets, Igbo having been disenfranchised and emasculated in any and every way stood on the sideline watching the Yoruba in their glee as they scrambled to obtain loans from their Yoruba dominated banks to make the most minimal of offers to the British as there were no competitions. The British had no choice but to accept any offer as the alternative was losing everything to the federal government. The British lost pretty much all their investment to the Yoruba whose stock in trade is robbing and stealing any and everything they can get their hands on. Thousands of Yoruba became millionaires overnight and there was jubilation and owanbe all over Yoruba land. Yoruba had parties day and night and weekends. They closed streets to display their new found wealth as they partied. That day marked the economic death of Nigeria, that day marked the death of Nigerian’s aspiration to join the civilized world. The implication was enormous and it sent a shock wave throughout the Ibo land, It was a dark history day, it was a day of manifest wickedness and viciousness, Ibo was dumbfounded, the days that followed were days of economic , social and psychological morose and confusion that are still lingering today within the Ibo. It might be hard to accept but Awo got the Ibo good and the country as well, he brought the Ibo to his knees economically at least temporarily and Ibo has never recovered from that one blow seven akpus in any appreciable way but Nigeria as whole is worse off for it. I believe that what was more devastating was that Ibo had no place or body to turn to. To be blunt, Awo decapitated the Ibo leadership and through Ibo into great confusion.

It is important to note that by this singular act of INDIGENIZATION DECREE engineered by the Yoruba, the Yoruba de facto constituted the new economic foundation, the sole owner and manager of Nigerian economy without any rivals. So, for those that have wondered why Ibo became traders, this is the why. The Yoruba will not let any Ibo near the management of any of these stolen corporations, will not let Ibo buy any shares of these corporations for decades following the heist. Now, some people without the capacity to comprehend the full seismic implication of this economic shift and restructuring will want us to believe that this does not matter and I will beg to disagree because it is like everything else, the foundation of everything matters and determines the success or failure, be it a house or business. As time has revealed, Yoruba stealing and forming the economic foundation for Nigeria was a bad idea and a monumental disaster. For the ignorants, all things being equal (in a fair fight) the Yoruba knew it, the British knew it, the Ibo knew it and the world knew it that the Yoruba did not possess the capacity, creativity, drive, perseverance, hard work and the competence to do what some are crediting to it if they did not conspire to steal not only from the British and Ibo but from everybody else that had any assets in Nigeria. The apparent dominant control the Yoruba has on the economy since after the war was not out of great honest smartness or creativity or innovation or hard work or competence but out of share robbery of the British and Ibo sweat and hard work. I believe that the question that the benign ignorant should be asking going forward is what did Yoruba do with all these assets and corporations that they stole? How did the country fair under the Yoruba management of the Nigerian economy? How did the Yoruba managed economy relate to today’s economic malaise. Hope they can make the connections.

My next piece will try to capture the mind blowing implications of that great heist as it relates to Nigerians and Ibo in particular and the flight of international investment from Nigerian for decades.

Fredrick.

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QUOTE DR. ADEAJAYI- adea...@aol.com 04/01/2012 via yahoogroups.com 3:18 PM to NaijaPolitics, naijaintellects

"The so called educated ones are the worst enemy of black people and progress. They never build, they destroy."
Melchizedek Sent from my Verizon Wireless 4GLTE smartphone

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YORUBA HAS NO OIL/GAS OR OIL WELL, NO MORE COCOA, EDUCATION DECLINED AND NOW YORUBA STEALING AND LOOTING INC. HAS ACCELERATED.

EVERY BUSINESS RUN BY YORUBAS ARE ALWAYS CONNECTED TO SUBSIDY, LOOTING, GOVERNMENT MONEY, CONNECTED

TO STOLEN NIGERDELTA OIL/GAS , LOOTED NIGERIA OIL AND GAS BUSSINESS, LOOTED FOREIGN COMPANIES, LOOTED FOREIGN FRANCHISES. THEY CANNOT BUILD ANYTHING FROM SCRATCH. NO LOCAL CONTENT, NO YORUBA MADE.

SINCE 1967 YORUBA HAVE LOOTED ALL THE FOREIGN COMPANIES IN NIGERIA, FOREIGN FRANCHISES, ALL THE FOREIGN INVESTMENTSFROM THE AMERICANS, GERMANS, BRITISH, ITALIANS, JAPANES, ASIANS AND EUROPEANS COMPANIES AND INVESTMENTSET UP IN NIGERIA FROM BANKING, TO OIL COMPANIES, TO MANUFACTERING INDUTRIES TO NGOS, HUMANITARIAN BODIES AND OUT FITS FROM UNITED NATIONS, WORLDBANK, IMF, WORLD HEALTH ORGANIZATION ETC. LOOTED, DESTROYED AND STOLEN SINCE 1967 BY YORUBAS.

NIGERIA INDUSTRIAL ESTATE SET UP WITH NIGERDELTA OIL MONEY, BIAFRA MONEY AND NIGERIA MONEY LOOTED BY YORUBAS AND THEIR MADNESS IN STEALING AND LOOTING.

IKEJA INDUSRIAL ESTATE LOOTED

ILLEJUJE INDUSTRIAL STATE LOOTED

GBAGADA INDUSTRIAL ESTATE LOOTED

COCOA INDUSTRIES LOOTED

OGUN INDUSTRIES LOOTED

IBADAN INDUSTRIES LOOTED

COCOA FARM IN EKITI LOOTED

COCOA FARMS IN ONDO LOOTED

ABIOLA FARMS LOOTED

ABIOLA BUSINESS LOOTED

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YORUBA LOOTING KINGS AND LOOTING LEADERS

YORUBAS ARE DREAMING WHILE THEY HAVE LOST ANY EDGE BECAUSE OF THEIR LOOTING NATURE.

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BANKOLE LOOTED 40 BILLION NAIRA

AKINGBOLA - INTERCONTINENTAL - 10 BILLION DOLLARS

TINUBU LOOTED 50 BILLION NAIRA

GBENGA DANIEL LOOTED 600 BILLION NAIRA

$16 billion Obasanjo said he spent on power supply while Nigeria remains in perpetual darkness at nights

N75 billion embezzled by Kenny Martin LOOTED

N300 billion former Works and Housing Minister, Anenih LOOTED

1 trillion naira looted by OBJ’s cousin, Mr. Erastus Akingbola LOOTED

ex-convict Bode George who stole N100 billion LOOTED

Mrs/Dr. Nike Grange? LOOTED N50 billion

FANI KOYADE LOOTED 10 BILLION NAIRA

FAYOSE OF EKITI LOOTED 20 BILLION NAIRA

Halliburton bribery money, a whooping N181 billion. OBJ LOOTED WITH YORUBA BROTHERS

ALL YORUBA GOVENORS HAVE LOOTED MORE THAN 5 TRILLION NAIRA FROM NIGERIA

IBRU CECILIA LOOTED 2 TRILLION NAIRA

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FROM 1967 - YORUBAS LOOTED AND DESTROYED 400 NIGERIAN ASSETS, INSTITUTIONS AND COMPANIES.

SOPHISTICATED YORUBA LOOTING AND STEALING INC.

MASSIVE CORPORATE FRAUD INC.

YORUBAS TOOK OVER ECONOMIC ENGINE OF NIGERIA FROM 1967 AFTER THE DEFEAT OF IGBOS AND ECONOMIC BLOCKAGE OF IGBO FROM NIGERIA ECONOMIC ACTIVITIES BECAUSE IGBO WHO WERE ALSO ECONOMICALLY VERY VIABLE THEN.FROM 1952 TO 1967 THE WORLD WAS LOOKING UP TO NIGERIA TO RIVAL BRAZIL AND THE ASIAN TIGERS IN TERMS OF ECONOMIC ACTIVITIES BECAUSE OF THE VIBBRANCY OF EASTERN REGION IGBO AND WESTERN REGION YORUBA.

NIGERIA WOULD HAVE BEEN COMPETING WITH ASIAN TIGERS (SINGAPORE, MALYSIA, JAPAN, CHINA, TAIWAN,ETC), BRAZIL, ARGENTINA, SOUTH AFRICA, AMERICA, EUROPE ETC. IN TERMS OF ECONOMIC VIBRANCY, HEALTHY ECONOMY AND NIGERIA BEING ONE OF THE RICHEST COUNTRY IN THE WORLD WITH ZERO POVERTY AND A HEAVEN FOR THE WORLD, AND AFRICA WOULD HAVE BEEN LIFTED OUT OF ITS PRESENT MISERY BY NIGERIA WHICH IS WHAT GOD PLANNED NIGERIA FOR. BUT THE YORUBA RACE AND THEIR TREACHERY, LIES AND HABITUAL AWORE (INCESTOUS) CULTURE DESTROYED NIGERIA, AFRICA AND BLACK RACE HOPE FOR EVER.

EVEN BY 1967 THE NORTHERN NIGERIA HAUSA/FULANI WERE DOING VERY WELL AND FINE MANAGING THEIR GROUNDNUT PRODUCTION, SOLID MINERAL ABUNDANCE, AND EXCELLENT MANAGEMENT OF THEIR NORTHERN NIGERIAN PROPERTY MANAGEMENT COMPANY WHEN THE NORTH WAS IN ALLIANCE WITH THE EASTERN NIGERIAN IGBOS BEFORE THE WAR. BUT AS SOON AS YORUBA COLLUDED WITH THE NORTHERN NIGERIA ALL THINGS STARTED GOING DOWN HILL. YORUBA INFECTED NORTHERN NIGERIA WITH CORRUPT AND STEALING TENDENCIES AND FROM 1967 THE NORTHERN NIGERIA HAUSA FULANI HAS BEEN IN DECLINE WITH YORUBAS AS MASTER MINDER OF LOOTING AND CORRUPTION IN NIGERIA.

TODAY 90% PERCENT OF THESE ASSETS, INSTITUTIONS, AND COMAPNIES HAVE VANISHED, LOOTED, CLOSED OR LIGUIDATED, AND THE FEW REMAINING ONES ARE IN DECLINE, UNPRODUCTIVE, BELOW CAPACITY AND MANAGED BY CORRUPT DIRECTORS, MANAGERS AND ON THE VERGE OF CLOSURE OR BEING PURSUED BY EFCC, POLICE, ICPC, CREDITORS, ENDLESS LAW SUITES, ENDLESS LABOUR CONFLICTS AND GOVERNMENT AND ATTORNEY GENERALS INQUIRIES ETC. FOR MASSIVE CORRUPTION AND STEALING.

PLEASE TAKE A LOOK AT ALL THE NIGERIAN ASSETS, INSTITUTIONS AND COMPANIES YORUBAS HAVE LOOTED AND DESTROYED SINCE 1967 AND WHICH HAS RESULTED IN DEBASING NIGERIA AND SETTING NIGERIA 100 YEARS BACKWARD.

UNIVERSITY OF IBADAN, UNIVERSITY OF IFE, UNIVERSITY OF LAGOS, NIGERIA MINISTRY OF EDUCATION, NEW NIGERIAN BANK, AJAOKUTA STEEL INDUSTRY, NIGERIA PORTS AUTHORITY, P&T, NITEL, OCEANIC BANK, SOCIETE GENERAL BANK, NATIONAL BANK, INTERCONTINENTAL BANK, MORGAGE BANK, CHANRAI STORES, BRITISH AMERICAN MERCHANT BANK, INDUSTRIAL BANK,NNPC, NEPA, MAPO HALL, COCOA HOUSE, IITA, NIGERIAN AIRWAYS, NIGERIAN RAILWAYS, NIGERIA FERRY, VOLKSWAGEN, BRITISH TOBACCO, PLATEAU TIN PRODUCTION, NIGERIA AIRPORT AUTHORITY, MMA,

CAPPA, GOLD MINING, COCOA FARMS, NIGERIAN LIVES STOCKS, FEDERAL RESEARCH INSTITUTE OSHODI, NIGERIAN FISHERIES, NATIONAL BANK, SIEMENS, HARLIBURTON, NIGERIAN POLICE, NIGERIAN CUSTOMS, NIGERIAN PRISONS, NICON, NIGERIAN REINSURANCE, NIGERIAN HOTELS LIMITED,

“Pharmaceutical Nigeria Plc ,May and Baker Nigeria Plc,Vitafoam Nigeria Plc,Wahum Nigeria Limited ,CAP Nigeria Plc , International Paints of West Africa [IPWA], Berger Paints Nigeria Plc, Berec Nigeria Limited, Kabelmetal, Nigeria Bottling Company Plc, Leventis Nigeria Plc ,West African Portland Cement Company,[Lafarge ],Wema Bank Nigeria Plc, Scoa Nigeria Plc ,CFAO Nigeria Plc, Cadbury Nigeria Plc, Wemaboard Estates, Odua Group, Livestock Feeds Nigeria Plc , Nigerian Breweries Plc, new nigerian Bank, Batta, Kingsway Stores,

Crittal Hope (Nigeria) Limited, Mushin, Lagos State.
Dunlop (Nig.) Industries Plc, Ikeja, Lagos State.
Galvanising Industries Limited, Ikeja, Lagos State
Nigeria Construction & Water Resources Development Company Limited, Ibadan, Oyo State
Nigerian Wire & Cable Plc, Ibadan, Oyo State
Nigerite PLC, Ikeja, Lagos State
Nipol Limited, Ibadan, Oyo State
Odu'a Textile Industries Limited, Ado-Ekiti, Ekiti State
Soleh Boneh Overseas (Nigeria) Limited, Ibadan, Oyo State
Vono Products Plc, Mushin, Lagos State
Wema Bank Plc, Marina, Lagos
West African Portland Cement Plc, Ikeja, Lagos State
Great Nigeria Insurance PLC, Ikoyi, Lagos State
Glanvill Enthoven & Company Limited

Guinness (Nig.) Plc, Ikeja, Lagos State.

International Breweries Plc, Ilesa, Osun State.

Macmillian Publishers (Nig) Limited, Ilupeju, Lagos

Nestle Food (Nig) Plc, Ikeja, Lagos State

Nidogas Company Limited, Lagos State

Niger Mills Company Limited, Calabar, Cross River State

Nigerian Aluminium Extrusions Limited, Lagos

SKG-Pharma (Nig.) Limited, Lagos

Tower Aluminium (Nig.) Plc, Lagos

U. A. C. of Nigeria Plc., Lagos

Niger Delta Explorations & Production Plc,

Bitumen exploration & exploitation Co. Nig. Ltd.

African Petroleum Plc
AIICO Insurance Plc
First Bank Nigeria Plc
Flour Mills Nigeria Plc
Intercontinental Bank Plc
Nigerian Breweries Plc
R. T. Briscoe (Nig.) Plc
Spring Bank Plc
PZ Industries Plc
S C O A Nigeria Plc
Union Bank of Nig. Plc
United Bank for Africa
Vitafoam (Nigeria) Plc
Ecobank Plc
NIMAPAK Nig. Plc
Con-oil Plc
John Holt Plc

O'net Telecomms.

Incorporated in 2002 as Odu'a Telecoms Limited, (ODU'ATEL) now branded as O'net. Licensed for fixed wireless Operation on 3.5Ghz and 800Mhz frequencies deploying CDMA Fixed and Mobile Telephony and Internet as well as Broadband Internet for corporate organizations, Institutions and Research Institutes and Virtual Private Network Services for Banks and other Network organizations in all five South Western States of Nigeria and beyond.

Askar Paint Ltd.

Askar Paints (Nig.) Ltd. was established in 1961 to manufacture paints and it is well known for its brands-Durosyn and Polyplast. In addition to paints, the company manufactures other chemicals and allied products like glue, clear finish wood preservatives and red oxide.

Cocoa Industries Ltd.

Cocoa industries Limited was established in1965 and its Nigeria's first cocoa processing company. In addition to processing cocoa beans into butter powder and cake, the company also produces and markets Vitalo – a cocoa based beverage drink. The company also exports cocoa butter.
Epe Plywood Industries Ltd. Epe Plywood Industries Limited is a major wood processing company. It was established in 1965 for the production of plywood, flush doors, veneer and furniture. It also engages in saw milling business.

Odu'a Printing & Publishing Co. Ltd.

Established in 1956, Odu'a Printing and Publishing Co. Ltd. is engaged in exercise books production, security printing, all business and office stationeries, maqazines, journals, annual reports, seasonal greeting cards, calendars, promotional posters & flyers, T- shirts, face caps & plastic ID card printing

Wemabod Estates Limited.

Established in 1963. Wemabod Estates Limited is one of the biggest property and estate in Lagos, developing companies in sub-Sahara Africa. Some of its famous properties are: Western House, Investment House in Lagos and Cocoa House in Ibadan, Oyo State.

The Commercial Farmers' Academy.

New farmers in Nigeria not only face the challenges of securing land and funding, but also obtaining the management skills and technical know-how to be able to run a farming business successfully in today’s business environment. In the light of this, Odu’a Investment Company is establishing a commercial farmers’ academy to provide top quality practical skills training to new and emerging commercial farmers in this part of our country.

Westco Farms Ltd.

Westco Farms Limited (RC 640323) Incorporated on 30th November 2005 is the new joint purpose vehicle established by Odu’a Investment Company Limited and Shepherd Agriculture (Africa) from South Africa. It is therefore a subsidiary of Odu’a Investment Company Limited.
The company will be involved in:

a. Aquaculture using the new floating cage system designed to achieve an initial target of 100 tons of catfish per annum. The technology is a new innovation in aquaculture engineering and fish friendly system that will derive the most from the fish.

b. Commercial Farm Training centres located in all the states of the South West to encourage and teach subsistence and so called small-scale farmers to make their farming enterprises profitable ventures. The training will consist of applied technical knowledge, practical farming skills and Farm Business Skills with the slogan “Training people in the business of farming”. The Academy will be modeled after the Buhle Farmers’ Academy of South Africa.
c. Cultivation of arable crops such as maize, sorghum and soya using improved seeds, proven technology and tested management skills that ensure high yield per hectare of cultivated farmland.
Fisheries Services Company Limited Fisheries Services Company Limited was established in 1973 to provide cold storage facilities, wharfage, bunkering and repair services to fishing companies operating at Ijora, Lagos State.

E & O Power & Equipment Leasing.

Established in August, 2005, the company's main business lines are sales, maintenance and leasing of Power Generating Set – 17.5KVA – 1000KVA & cooling equipments.
Western Hotel Ltd:

E & O Power & Equipment Leasing.

Western Hotels Limited is made up of two hotels. Premier Hotel with 87 rooms and Lafia Hotel with 60 rooms. The rooms are well designed and furnished to standard with swimming pools and a Casino. The two hotels engage in outdoor catering for all occasions

Lagos Airport Hotel Limited.

Lagos Airport Hotel started business in 1942 as Grand Hotels and was later expanded and renamed Ikeja Arms Inn in 1956. In 1961, it became known as Lagos Airport Hotel. It is located on the popular Obafemi wolowo Way, Ikeja, Lagos State. It has a total of 277 rooms, three restaurants, a standard swimming pool and a number of conference rooms. The hotel also engages in outdoor catering for all occasions.

Odu'a City Hall.

ODU'A CITY HALL is situated within the Cocoa House complex The hall is for commercial letting for AGMs receptions, dance etc.

THESE ABOVE ARE NIGERIAN ASSETS, INSTITUTIONS AND COMPANIES YORUBAS HAVE LOOTED AND DESTROYED SINCE 1967 AND WHICH HAS RESULTED IN DEBASING NIGERIA AND SETTING NIGERIA 100 YEARS BACKWARD.

QUOTE "Nigeria- Biafra war was supposed to have been officially over, it was not enough to murder Igbo and their babies in millions, the treacherous bastard Awolowo who was now on Gowon's payroll, the devilish bastard who Ojukwu should have let rot in prison again started marginalizing Igbo Biafrans by confiscating Biafran accounts and looting their hard earn money, giving the Igbo persons 20 pounds each regardless of balance (and interest). The "Indigenisation Decree", another bastard policy which followed soon after the arbitrary award of 20 Pounds completed the routing of Biafrans from the commanding heights of the Nigerian economy. Only two years after the war supposed to have ended, when Igbo (Biafrans) were still in their economic doldrums, Chief Obafemi Awolowo [the Finance Commisioner under Gowon ] then auctioned the Nigerian economy to the Nigerian "indigenes" with the Enterprises Promotion Decree 1974(so-called). He started selling off government and foreign owned properties to "Nigerians" knowing very well that he had just made the Biafrans/Igbo virtually bankrupt. This was of course deliberate, and done to reverse the Hausa/Fulani Yoruba fear of "Igbo domination" also to spite the Igbo/Biafrans futher. The timing of this policy was to ensure that there was effective exclusion of the Biafrans/Igbo from ownership in Nigeria's industrial sector, since after confiscation of the money and bank accounts they would no longer have the financial muscle to participate. As "the vanquished"[Biafrans/Igbo] were dispossessed of what they had, "the victors"[Hausa-Fulani-Yoruba] were deliberately empowered through the banks to purchase the Nigerian "national"(illusionary that is) patrimony.This Awolowo was indeed a treacherous beast with ambition, indeed a wicked bastard. Despite this particular anti-Igbo policy, the Igbo are still thriving such that they could easily produce the most educated people in Nigeria and even in Africa. Despite after all this he did for the Caliphate and Nigeria, he still never became president of Nigeria even for 1 second. Yes he was be "The best president Nigeria never had". UNQUOTE

" the Nigerian government policy of "starvation as weapons of war" as crafted by Awolowo to which he was never forgiven by Igbo. We can also detail the facts that even after the war, Awo and Nigerian government kept all Igbo money, given them only 20 pounds to every igbo who had money in the banks as punishment for defending themselves and his continued starvation as weapons of war and annihilation. In a nuthshell Igbo were left to die, I remember my uncle coming home with 20 pounds and wondering what anyone could possibly do with twenty pounds as opposed to thousands of pounds he had in the bank from oil and Petroleum business before and during the war."

Cornelius Thursday, April 29, 2010

QUOTING CHIEF EDWIN CLARK ON THE WAR AFFECT ON IGBO" "The harsh post-war economic policy immediately converted Igbo businessmen into street hustlers. Those in the corporate world lost their positions and had to begin new professional careers. Importation of stock fish was banned to deny Igbos their only means of protein after the war. (Remember that most livestock were lost during the war). This was followed by the problem of abandoned property implemented mainly by the old Rivers State." CHIEF EDWIN CLARK . IGBO PROPERTIES WERE SEIZED ALL OVER NIGERIA AND MANY WERE UNDERVALUED AND SOLD AS AUCTION AND AT AUCTION ALL OVER NIGERIA FROM 1967 TO 1980.

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YORUBA ODUA LOOTING AND STEALING OF HERITAGE CONTINUES

Wednesday, November 23, 2011 PUNCH NEWSPAPERS

ICPC quizzes Odu'a boss, others

Written by Akinwale Aboluwade

The Group Managing Director of the Odu’a Investment Company Limited, Mr. Adebayo Jimoh, and four other management staff of the company were on Tuesday quizzed by officials of the Independent Corrupt Practices and other-related Offences Commission over alleged misappropriation of N10.3m belonging to the company.

GMD, Odu'a Investment Company Limited, Mr. Adebayo Jimoh

advertisement

The anti-graft agency had on Monday invited them to Abuja for interrogation following a petition by the former Estate Manager of the conglomerate, Mr. Ademola Ridwan.

Ridwan called on the ICPC to investigate the alleged fraud involving the lease of the company’s property situated in Apapa, Lagos State while he was an official of the company.

He alleged that rather than being commended for uncovering the fraud, he was sacked while those allegedly involved in the deal were promoted by the management.

It was gathered that those quizzed were the Head of the Human Resources Department, Abimbola Ilori; a former Head of Estate Department, Dare Aseweje; the current Head of Estate Department, Mrs. A. Odutola; and one Adedapo.

The petitioner, who claimed that he was sacked because he exposed the alleged fraud, explained that he became suspicious when he noticed that his signature was forged on two documents that were presented concerning the property.

He said, "I became suspicious because the letter bore my name as a signatory knowing that I did not authorise such a letter and that the company did not mandate any middleman to act on my behalf

.

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YORUBAS LOOTED NIGERIA RAIL WAYS AGAIN AND AGAIN AND AGAIN.

On Thu, Jan 19, 2012 at 11:26 PM, Valentine Ojo <elew...@gmail.com> wrote:

You want to travel by rail in Nigeria...?

Please purchase your tickets, and hop on board:

http://www.youtube.com/watch?v=k0t_DsTNqZg

In the meantime, the Chinese are building the fastest train on earth - even faster than the Japanese Bullet Trains!

Nigeria, We Hail Thee!

--------------------------------------------------------------------------------------------

By Citizen Reports

http://saharareporters.com/news-page/great-nigerian-railway-100-billion-naira-robbery-and-ooni-ifes-connection

The Great Nigerian Railway 100 Billion Naira Robbery And The Ooni Of Ife's Connection

Posted: January 28, 2011 - 09:28

Posted by siteadmin

THE CRIME

The investigation revealed that Eser Nigeria Contracting, which Sijuwade recommended for Contract 3, had family connections with him. It is alleged that his brother or a relative (one Aderemi Sijuwade), is a signatory to the bank account of the company held with Skye Bank at Adeola Hopewell Branch on Victoria Island, Lagos, and that records at the Corporate Affairs Commission reveal that the registered office of the company is 65 Queen Street, Alagomeji, Lago. That property belongs to an uncle of Sijuwade, the well-known Ooni of Ife, Oba Okunade Sijuwade. Aderemi Sijuwade is also known to be a Deputy Chairman of Espro Asphalt, an affiliate of Eser Contracting . One Prince Tokunbo Sijuwade has also been named as a Director of Espro Asphalt. Engr Adeseyi Sijuwade has up till now not declared this conflict of interest as required by the Public Procurement Act.

As the nation reels from the news of the EFCC’s arrest of the Managing Director of the Nigerian Railway Corporation, Mr Adeseyi Sijuwade, following his indictment by the State Security Service (SSS), questions are being asked as to whether he could have acted alone or in concert with others.

THE DAMNING INDICTMENT

“The efforts by the Federal Government in revamping the moribund rail sector, to complement road transportation has been marred by controversies and allegations of corruption in the NRC. The current administration in NRC under Sijuwade has not shown any sign of seriousness, to revamp the system as it has allowed personal interest to override its duties.” – SSS Report

THE CHARGE
“Investigation has revealed that the process for the award of the contract for the rehabilitation of NRC Eastern line, Port Harcourt – Kaduna Junction and that of the other NRC Eastern line, Kafanchan – Maiduguri, is fraught with corruption and irregularities, masterminded by Sijuwade. He has been accused of manipulating the contract procedures to favour predetermined contractors and recommending unqualified contractors for specified jobs” - SSS Report

THE BACKGROUND
The project involves major rehabilitation of Nigerian Railway Corporation’s existing narrow gauge single line rail track, including the bridges and culverts, from Port-Harcourt to Maiduguri. The estimated total length of track work to be covered is 1,654km. In order to enable quick delivery of the work within the expected time frame, the work is divided into two contracts.

Contract (3) covers the rehabilitation work from Port-Harcourt to Kaduna Junction through Kafanchan - approximately 916km. Consultant’s Estimate: N47.9 billion.

Contract (4) covers the rehabilitation work from Kafanchan to Maiduguri, including the branch line from Kuru to Jos, totaling approximately 738 km. Consultant’s Estimate: N30.7 billion.

Bids were invited in February 2010 by publications in the Nigerian press. Thirty-five companies expressed interest, and 13 of them were prequalified to submit technical and financial proposals. Twelve companies submitted bids in May 2010 and were evaluated by a team led by Sijuwade. Two of the companies were recommended to the Ministry of Transportation for award of the contracts. In the end, Contract 3 went to Eser Nigeria Contracting Company Limited at N35.59 billion, while Contract 4 went to Symdicate Construction and Commercial Company Limited at N29.96 billion.
Complaints however followed the awards, and the Chairman of the NRC, Alhaji Bello Haliru, initiated an investigation which was later expanded to involve the SSS.

THE CRIME

The investigation revealed that Eser Nigeria Contracting, which Sijuwade recommended for Contract 3, had family connections with him. It is alleged that his brother or a relative (one Aderemi Sijuwade), is a signatory to the bank account of the company held with Skye Bank at Adeola Hopewell Branch on Victoria Island, Lagos, and that records at the Corporate Affairs Commission reveal that the registered office of the company is 65 Queen Street, Alagomeji, Lago. That property belongs to an uncle of Sijuwade, the well-known Ooni of Ife, Oba Okunade Sijuwade. Aderemi Sijuwade is also known to be a Deputy Chairman of Espro Asphalt, an affiliate of Eser Contracting . One Prince Tokunbo Sijuwade has also been named as a Director of Espro Asphalt. Engr Adeseyi Sijuwade has up till now not declared this conflict of interest as required by the Public Procurement Act.

The Public Procurement Act in Section 57 sub. 10 provides that:

“Any person engaged in the public procurement and disposal of assets who has assumed or is about to assume, a financial or other business outside business relationship that might involve a conflict of interest, must immediately declare to the authorities any actual or potential interest.”

It further states in sub 11 that:

A conflict of interest exists where a person:

(a) possesses an interest outside his official duties that materially encroaches on the time or attention which should otherwise be devoted to affairs of government;

(b) possesses a direct or indirect interest in or relationship with a bidder, supplier, contractor, contractor or service provider that is inherently unethical or that may be implied or constructed to be, or make possible personal gain due to the person’s ability to influence dealings;

(c) entertains relationships which are unethical, rendering his attitude partial toward the outsider for personal reasons or otherwise inhibit the impartiality of the person’s business judgements;

(d) places by acts or omissions the procuring entity he represents or the Government in an equivocal, embarrassing or ethically questionable position;

(e) entertains relationships compromising the reputation or integrity of the procuring entity he represents or the Government;

(f) receives benefits by taking personal advantage of an opportunity that properly belongs to the procuring entity he represents or the Government;

(g) creates a source of personal revenue or advantage by using public property which comes into his hands either in the course of his work or otherwise; and

(h) discloses confidential information being either the property of his procuring entity, the Government or to a supplier, contractor or service provider to unauthorized persons.

Secondly, it was discovered that the company did not submit a Bid Security at the time the bids were opened in May 2010. In that case, its bid should have been disqualified for being non-compliant. It is alleged, however, that a Bid Security miraculously appeared among the company’s bid documents subsequently. Enquiries at the issuing bank revealed that the Bid Security was only issued in June 2010, several weeks after bid opening. It is further alleged that Mr Sijuwade, with the assistance of policemen, forcibly caused all the opened bids to be moved into his office from the Company Secretary’s custody presumably so that the Bid Security could be inserted subsequently. Under the Public Procurement Act, the insertion of documents such as Bid Security after bid opening is a serious offence attracting a minimum jail sentence upon conviction of five years, without the option of fine.

The Public Procurement Act in Section 58 sub 4 says:

The following shall also constitute an offence under this Act:

f) altering any procurement document with intent to influence the outcome of a tender proceeding ;

In Section 58 sub 8, the Act says:

An alteration pursuant to subsection 4( ) shall include:

b insertion of documents such as bid security or tax clearance certificate which were not submitted at bid opening;

Thirdly, it was discovered that Eser Nigeria Contracting was registered only a few months to the submission of the bids and had no work experience. Its submitted tax clearance revealed that it had no income and no assessable profit or loss. This means, in the opinion of a source at the Ministry, that such a company had no business bidding for high profile contracts of nearly N70billion.

Fourth, the company’s bid of N35.59 billion against the consultant’s estimate of N47.9 billion was adjudged to have been too low and deemed not compliant, as it is 26% below the consultant’s estimate. The prescribed tolerance margin under the act is +/-15% and the tendency is for bids to be higher than the consultant’s estimates, not lower.

As regards Contract 4, the recommended company by Sijuwade, Syndicate Construction, apart from having no requisite railway experience, submitted a fake tax clearance certificate as enquiries made to the FIRS office where the certificate was purportedly issued confirmed that it had not been issued by them. The company was further shown to have submitted a fake Bid Security, as GTB Bank, which allegedly issued the Security, disowned the document as not emanating from it. Several of Syndicate Construction’s other documents, such as its audited accounts, were allegedly falsified. Curiously enough, Sijuwade did not deem it fit to file a report with the EFCC against this company for fraud after it was brought to his attention that this company’s particulars were dubious. Instead, he set about trying to explain the lapses to see how they could be accommodated, and then went ahead to award the contract. It is alleged that his conduct was informed by his personal interest in the company.

Our source at the Ministry said that it is a big shame that the railway rehabilitation has been turned into a contract jamboree because of the attitude of people like Sijuwade. He told this reporter: “There are only three construction companies in Nigeria with the requisite experience and capacity to carry out work on our railways. Unfortunately and because of how Nigeria is, when you invite bids for railway work, you have thirty five companies responding, most of whom have no business bidding for railway work. To make matters worse, it is the incompetent ones that are getting the jobs because they have connections. We have road construction companies who have no experience of railway construction and who have not even completed their contracts on our roads parading questionable foreign companies who they have never worked with before and who have no experience of working in Nigeria before as partners. Some of them submit audited accounts which do not match with the figures in their tax clearance because Sijuwade allows them. That is why a simple job like Lagos to Kano has still not been completed and may never be. This Eastern line contract is not the only indiscretion of Sijuwade. Everything he has done since he went to NRC has been dogged by controversies of manipulation, fraud and corruption. There is a case at ICPC and many others that nobody is talking about yet.” Even Mr. Sijuwade cv which he submitted is full of bogus claims.

When the ministry reviewed the tender process, they disqualified all the companies whose documents were not compliant. These included the companies favoured by Sijuwade. This did not go down well with him. So what did he do? He cancelled the procurement process and decided to start afresh. So after 10 months of a bid process, he is starting bidding all over again. The companies which submitted fake documents in the first place or inserted documents in their bids after closure are not barred from participation. They are now being afforded the opportunity to perfect their papers. All bidders’ prices are now known including the consultant’s estimate, since bids in the original process were opened on 26 May 2010. The only people who are being disadvantaged are those who meticulously complied with the terms of reference and submitted compliant bids. Is that fair? To make matters worse, the same Sijuwade who superintended the manipulated process in the first place is superintending the re-run. How can it ever be credible? Where is the Minister in this matter? Where is the Chairman of the corporation in this matter? Where is the Due Process office in this matter? Looks like they are all doing “see no evil, hear no evil, speak no evil.”

THE STORY OF CONTRACT 1 AND 2
When enquiries were made about the issues around the case with the ICPC, our Ministry source became agitated. He said, “That is the story of Lagos to Jebba (Contract 1) which they have promised and promised will be delivered but will never be on time because it was manipulated and given to a company without capacity to do it. It is a story of manipulation and flagrant breach of the Public Procurement Act by Sijuwade and covered up by the previous Minister, Ibrahim Isa Bio.
It is the story of how two companies sent in compliant bids, one was N14billion and the other N12billion, and they took the contract and gave it to the company that bidded N14billion at N12billion”. When a legal expert was asked if the government does not reserve the right to give a contract to anybody it likes to, he said, “Once you have submitted to the precepts of open competitive bidding under the Public Procurement Act, then the government’s discretion is limited by the law. It is a criminal offence to allow a company to change its price after bids have been submitted.
Section 31 sub. 3 of the Public Procurement Act is very explicit in this respect. It states that:

The following shall not be sought, offered or permitted:
(a) Changes in prices;
(b) Changes of substance in a bid; and
(c) Changes to make an unresponsive bid responsive.
The legal expert further said, “In law, when you see the word “shall”, and then it is mandatory. There is no room for discretion at all.”
The situation with the Contract 2 is even worse. The company which was awarded the contract has no railway experience whatsoever. Its bid was identical to the consultant’s purported estimate which is unrealistic and undeliverable. Purported estimate because something very strange happened in that consultant’s estimate.

One key element of work is the Akerri flood control work involving the erection of a major bridge across the river at Akerri. The consultant’s estimate in this segment is inconsistent with its estimates in the other sections of the bill of quantities where similar scope of work is priced. Using the same rates from other sections of the consultant’s bill of quantities for identical elements of work, the consultant’s estimate for the Akerri works should be no less than N10billion. However, and by some miracle, the entire Akerri work was priced lump sum in the consultant’s bill of quantities as N2.75bn. Whereas in the other sections of the bill of quantities, the various elements of work are priced, in the Akerri section the individual elemental rates were left blank and a total lump sum figure of N2.75bn entered against the whole section. Whereas the other bidders priced the Akerri works at no less than N10bn, by some stroke of genius, the company to which the contract was awarded quoted a price of N4.46bn, which was closer to the purported consultant’s unrealistic estimate of N2.75bn for Akerri.

An analysis of the successful bidder’s prices side by side with the consultant’s estimate shows a pattern of being consistently below the consultant’s estimate in every other section. Only in Akerri is he higher than the consultant’s and it appears that the manipulation was a balancing figure to bring him to par with the ‘adjusted’ consultant’s estimate.

What needs to happen now is for that consultant to confirm if it really estimated Akerri at N2.75bn and to explain how he arrived at that ridiculous figure but who will ask him? ”I swear on my mother’s grave that he will not be able to justify it”, said our source.

The consequence of all this manipulation is that the Akerri work is standing there not up to 12% complete and the contractor does not know how to complete it. The contract was signed in February 2010 with 10 months duration which means it should have been completed by December 2010. At the current rate, only God knows when it will be completed and how much more will be needed. Meanwhile trains cannot pass.

The question on many lips is, who are Sijuwade’s collaborators whose actions are helping to keep our railways moribund? Who are his protectors and why is he not in jail?

Our source lamented, “Don’t be surprised if the EFCC turn out to tell you that he has no case to answer. ICPC investigated Contract 1. Where is the case? A permanent secretary was arrested for obstructing the investigation. Where is the case? This is Nigeria wonderland. Anything and everything happen can here. Only God can save us from the Sijuwades of this country. Meanwhile President Jonathan is seeking re election so everyone is now a sacred cow.”

•

Dear Mr. Festus Dada,

You will not be allowed to divert or diffuse the unfounded claim you made that "...Unlike the rest of Nigerian ethnic tribes, the Yorubas have the brain power..." You must either substantiate/prove this wild claim or gentlemanly retract it. We must wait until you respond. It is not enough to point to Gombe or any other northern state that is educationally challenged. You categorically said that "Unlike the REST of Nigeria," didn't you? You must then prove it or shut your mouth!

Chukwuemeka Uche
Ann Arbor, Michigan

.

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On Thu, Nov 12, 2015 at 6:12 AM, Afis Deinde odide...@gmail.com [NigerianID] <NigerianI...@yahoogroups.com> wrote:

 

OUR FIRST STEP TO TRUE YORUBA INDEPENDENCE IS:

STABILITY.

POLITICAL STABILITY AND ECONOMIC STABILITY.

<image1.JPG>

<image2.JPG>

<image3.JPG>

<image4.JPG>

<image5.JPG>

WE DEFINE US.

WE FIGHT OUR WARS OUR WAY!

<image6.JPG>

SHIKENA 

Afis

“Just as a solid rock is not shaken by the storm, even so the wise are not affected by praise or blame.” — Dhamapada, verse 81.

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[HC Ade]

Nwa Igboka Nwadiegbu (Africa Today Nuisance Tomorrow) may amadioha solder your yansh and drain that your little brain for the hateful cripola you pen down below. For your information, no successful lgboman is contesting with anybody other than with success of which they are winning.

I can give you atleast five lgbos who started their businesses before 50s and are still doing well. Some of these lgbos with their head offices in Lagos can boast of net worth of between 2m - 1b US dollar.

It is people like you, Nebu, Chukwumad, Odi-Isaa, Odebesilu etc who are competing with other tribes that are still leaving in the past, some of these lgbos folks are doing great.

I read recently where you profiled some successful lgbos world wide of which l could not see any of your five generations in the past or any name of your comrades. These guys are doing great because they only have success to compete with not any tribe.

May Holy Ghost fire blast that your brain for exposing innocent lgbos to unnecessary hateful attraction for doing their work (jejely). How many companies have you and your folks (Ezeana, Nebu, Chukwumad etc) established or attracted to Alaigbo even with your hate preaching?

Anufia

HC Ade

Sent from my BlackBerry 10 smartphone.

From: Africa Today Sent: Thursday, 19 November 2015 20:11 To: niger...@yahoogroups.com; Nigeria World; igbo events; africanw...@googlegroups.com; Imperia Merchant Reply To: africanw...@googlegroups.com Subject: [africanworldforum] RICH ADETULE IMPERIAL==MANY IGBO RESILIENT BUSINESS DATE STARTED OVER 60 YEARS OLD FROM NIGERIAN INDEPENDENCE DESPITE WAR DESTRUCTION AND NIGERIA AUSTERITY ECONOMY ARE STILL WAXING STRONG==

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[Chukwuma S. Agwunobi]

HC-High Criminal Ade-Yeye:

 

Ki ni Chukwuma lo se fu Orie? Na wettin Chukwuma do your head?

My response to your mail

 

I can give you atleast five lgbos who started their businesses before 50s and are still doing well. Some of these lgbos with their head offices in Lagos can boast of net worth of between 2m - 1b US dollar.

That is true because they worked hard for it. But these Igbo’s and other Nigerians are in Lagos because that is where they concentrated and cited all Nigeria infrastructures paid for with all Nigerians Tax payers’ money. They are not there because of assumed kindness and accommodating nature of the Ngbati people.

 

Nigerians, Ngbati people in particular are now in ABUJA and other Northern places because that is where they concentrated Nigeria Military, Police, Customs and Prisons? Any where there is over concentration of IJOBA- Government jobs, people from all parts of that nation must be there.

 

No Nigerian should kiss the bloody nyash of any Ngbati person because they are in Lagos to share IJOBA-Government jobs with them. Nigerians doesn’t owe any Ngbati person appreciation for living and doing their businesses there. I tell the Hausa/Fulani that too that, no Nigeria owe them appreciation for promotion in the Army or any Uniform job when they are calling the shots there.

 

If you don’t want Igbo’s or other Nigerians there, tell the Government to relocate these IJOBAS and Infrastructures back to the East because nobody is going to THANK your fucking Ngbati Owambe nyash.  

 

Igbo’s are part of the major tribes in Nigeria. They are rivalry to the Ngbati, Ngbati Owambe people in everything in life except in Business. The Ngbati Owambe people just can’t take these aggressive competition/rivalry in the GENE of these hardworking people across the Niger hence they shamelessly  label them Land grabbers, Money Lovers and not respecting their Culture.

 

Devil Solder una Nyash. Na which kind Yeye Culture Ngbati people get sef?

 

They beat up 75 years old Hausa/Fulani woman in Shagamu because they claimed that she didn’t obey and respect your bloody Ngbati Culture. That triggered the bloody Riot between the Hausa/Fulani and the Ngbati people in 2001.

 

The same reason of not respecting your bloody Ngbati Culture triggered the Riots between Hausa/Fulani and Ngbati people at Ketu, Agbo-Malu Road, Apapa, Oyingbo/Iddo, Iponri and Yaba.

 

The same reason of not respecting your bloody Ngbati Culture triggered the Riots between the Ijaws and Ngbati people at Ajegunle. The Ngbati people ran into Igbo Traders Shop to hide. The Ijaws were in hot pursuit after smoking Igbo and weigh it down with Ogogoro and with Knives in their hands. They were calling the Ngbatis Furu gboo [THIEVES]

 

Just hear the Coward, Ngbati Owambe people talking

 

Omo for O ‘Boy, calling on the Igbo Traders where they were hiding,

 

Dis Fisherman people dey crase O, no be small O!

 

Orie wan oti fo [Their heads no correct O!]

 

Aa muIgboo nie [Na Igbo Smokers dem be]

 

All these Riots was due to shameless Ngbati people thinking that they are very kind and accommodating with high moral superiority over others and should be appreciated and respected.

 

Show me where you see Igbo’s fighting non Igbo’s in the SE or fighting people in non SE States? They were attacked by Ngbati OPC during June 12^th because they didn’t support them to fight the Northerners who canceled the election and they kept quiet with self restraint.

 

HC-High Criminal Ade-Yeye, I am telling you now that Igbo’s are tired of it. They cannot continue to hear stories of how young Igbo’s are losing Thousands and Millions of Naira to other Nigerians attacking them because they are jealous and envious of their success due to their hard work.

 

Touch them again, they will fight back and in any State they can find the tribe (s) of the people that attack them.

 

I read Ayojuwere, Oga Adeboye, AFIS and Bolekaja Aluko saying that KANU told Igbo’s to start killing Hausa/Fulani and Ngbati people. They will not go free if any Igbo is hurt or killed from their incitements.  

 

It is people like you, Nebu, Chukwumad, Odi-Isaa, Odebesilu etc who are competing with other tribes that are still leaving in the past, some of these lgbos folks are doing great.

Omo Buluku, Adeyey, Chukwuma is leaving in the past ehn? If competition will bring about Quality, hard work, independent, efficiency and remove corruptions, long legs and QUOTAS, I am all for it.

 

Ngbati people abhor competition and hard work. Why is it so? They Love AWUFUS in any way they can get it. That is the pain and anger eating up their hearts. They just can’t stand Igbo’s Love and unquenchable appetite for Competitions like Porn Stars love GUITAR.

 

Igbo parents with say 2-3 children will put them into Competition before they give out a KOBO to them. Ngbati people must depend on Mama and Papa Long Leg no matter how highly qualified they are. And they call it Good Luck, God Blessings and Love of Mama and Papa.

 

How pathetic to hear Bolekaja Aluko, a PhD holder, working for the past 30-35 years was mocking me that “CHUKWUMA SMART is jealous of me because my Mama and Papa paid for my children education, they helped me to buy my first house in America, they married for me, they built house for me in Nigeria and they helped me buy lands in Nigeria.

 

I said CHINEKE my God, who was the murderator that posted this? To Bolekaja Aluko, a PhD holder, CHUKWUMA SMART has Bad luck because him mama and papa no use Long Leg do all these for him.  

 

I read recently where you profiled some successful lgbos world wide of which l could not see any of your five generations in the past or any name of your comrades. These guys are doing great because they only have success to compete with not any tribe.

I am happy you keep recognizing how hard working the Igbo’s are. Circulate the good News around in SW. Please put my name, CHUKWUMA SMART there as one of the successful Igbo’s because I did 2-3 odd jobs to pay and get a Degree in Engineering.  And I have saved many Ngbati, Ngbati guys who wanted to commit suicide for not having just N20, 000 Naira to do Birthday Owambe.

 

May Holy Ghost fire blast that your brain for exposing innocent lgbos to unnecessary hateful attraction for doing their work (jejely).

Mgbo ku wakwa Mkpuru Amu gi. Nwa Nkita, Ofogori, Omo Ale, Ajebuta, Ozu and OSU from West African Countries.

 

How many companies have you and your folks (Ezeana, Nebu, Chukwumad etc) established or attracted to Alaigbo even with your hate preaching?

Good question. This is the roll calls.

I taught many Ngbati, Ngbati Owambe people how to save money despite their PhD’s in Economics, Banking and Finance.

I taught many Ngbati, Ngbati Owambe people how not to rely on Mama and Papa.  

I taught many Ngbati, Ngbati Owambe people how to live within their means

I taught many Ngbati, Ngbati Owambe people how to stop spending like Drunken Sailors

I educated them not to be proud of Guitaring Sugar Mummies 30-35 years older than them.

I taught them how to own their cooking utensils and stop eating IYA-FIS [Mama Put]

I taught many Ngbati, Ngbati Owambe people to stop eating Gbese [Debts]

I taught many Ngbati, Ngbati Owambe people what Igbo’s mean by Work Before Pleasures.

Igbo’s like CHUKWUMA played GUITAR with many young Ngbati ladies that procreated hard working and intelligent children like me.

 

If you living in America and Europe, you will know that Oyibo people make Millions and Billions of Dollars, Pounds and EURO with all the things I listed above.  

 

So I have created many jobs mainly to help the bloody, lazy, over spenders and Awufu loving people called the NGBATI, NGBATI OWAMBE people of SW-SOUTH WAHALA.

 

And with this, I rest my case.  

 

Chukwuma "Vicious Animal" Agwunobi

Seattle, Washington U. S. A

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From: HC Ade <praiseso...@hotmail.com>
To: Africa Today <africanw...@googlegroups.com>; "niger...@yahoogroups.com" <Niger...@yahoogroups.com>; Nigeria World <nigeriaw...@yahoogroups.com>; igbo events <igboe...@yahoogroups.com>; africanw...@googlegroups.com; Imperia Merchant <imperi...@yahoo.com>
Sent: Thursday, November 19, 2015 2:05 PM
Subject: Re: [africanworldforum] RICH ADETULE IMPERIAL==MANY IGBO RESILIENT BUSINESS DATE STARTED OVER 60 YEARS OLD FROM NIGERIAN INDEPENDENCE DESPITE WAR DESTRUCTION AND NIGERIA AUSTERITY ECONOMY ARE STILL WAXING STRONG==

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