.Is this President corrupt? Obasanjo`s 200 million shares in Transcorp

images/stories/Politicians/obj.Forwa...Read the full...

Click here to read the entire article

[antiobj2007]

Every time you turn around you catch OBJ saying one thing but doing exactly the opposite of what he preaches. Obasanjo's shadowy finances (next headline- obasanjo farms and N50 billion agriculture loan) and blind trust are only blind to his conspirators who wear their I LOVE NIGERIA appellation like fake Chinese Rolex watch to dazzle and confuse.

Oluye,
Would we rather that a foreign company should buy NITEL?
Cut the crap! Obasanjo spent the whole of his first term gallivanting the globe looking for foreign investors.do you know how much he spent on travels alone? In 2006 alone the man plan to spend N8.6 billion on travels alone. This include the cost of a helicopter (2.5 billion). This is more than budget allocation to UCH and LUTH put together. The first GSM licences issued by Abacha were given to indigenous companies Communication Investment Limited and Motophone (Chagouris) but Obasanjo cancelled them and gave them to South Africans. What about Auntie Ngozi's "Nigeria is open for business" roadshow? What then is the essence of the privatisation part of the reform agenda?

Few days after the announcement of the sale of NITEL to TRANSCORP,No wonder Obasanjo came out and ordered States, Ministries and Parastatals to pay their indebtedness to NITEL or payments will be deducted as source.

I want to assure you that TRANSCORP won't make it to 2008 it's too untidy! All the strange bedfellows who are now board members will start scheming each other out.
Whoever wins the 2007 presidency may even decide to win the electorate over and do something nice in their eyes by setting out to break up TRANSCORP the same way PUTIN tossed up a wrench into the oil empire of the oligarchs.

Obasanjo is the modern day Robin Hood robbing the poor to pay the rich. 2007 is here hopefully whoever gets there will take from the rich to give to the poor.

[DaBishop]

Originally Posted by N.A.R.

Ula-lisa,
Perhaps I should shed some light on my thinking. So let me respond below:

The point I am trying to make is that it is apparenly common practice for politicians while in office to plan for life after office via investments through 3rd parties and other known and unknown activities. As evidence of this, take a look at a great number of Ex legislators that practically walk out of office from the Capitol, right into some office previously arranged for them on K street. They become lobbyists and automatically have a healthy list of clients, an equally healthy salary and benefits, in most cases businesses they have invested in or have dealings with.


While in the broad sense I will agree with you, permit me to say this. What you refer to as Obasanjo's company is a publicly traded company, you and I can tomorrow go and buy shares in Transcorp and we would get a piece of every Naira it makes. This I believe is different from me diverting state funds and resources to my families personal accounts for the exclusive use of myself and nobody else, or I set up privately owed companies with state owed funds. So essentially it can probably be argued (if true) that Obasanjo is giving NITEL not just to himself but also any other Nigerian that has choosen to invest like him in Transcorp.

He actually need not apologize, he needs to be investigated and if found guilty should face the consequences according to the constitution.

Again, I choose to differ:

1. If politicians steal money and launder it through proxies the world over; it would never legimize it. A case in point is Abacha. OBJ chased him with every zeal; I silently supported him and wrote that the Swiss repatriate the loot without conditions. OBJ's anti-corruption agency, EFCC reportedly went after Marwa to trace and recover Abacha funds in his accounts, I support him. So the issue of the common behavior of politicians has been nullified by OBJ in his quest for hidden money.

2. N200 million is a lot of money if you know the President's salary. He got out of jail broke like he himself testified. His powerful friends did not give him money then. Where did he get the money for the shares, for OFN and for Bell? It is misconduct to peddle influence while acting as president. That is why if your Clinton clip is true, there was a hue and cry.

3. OBJ purports to be a reformist president with assertions that it would not be business as usual. He had challenged Kalu to furnish info regarding his corruption like he was caesar's wife - all clean.

4. The issue of a public traded co is not relevant yet. Firstly, the lopsidedness of his knowledge of what he wants to use the resources of the Nigerian State to make of Transcorp gives him an unfair advantage. Secondly, his undue influence to access N200 million thru grants, bank laons or gifts smack of abuse of power. Thirdly the multiplication of his shares before the public offering; fourthly, his selling state money spinners (NITEL, NOGA HILTON, REFINERY) to a corporation he has dominant shares in AFTER HIS SHARES HAD MULTIPLIED; Then the big blinder - the addition of the patriotic catch-all nationalism -
ITS A PUBLIC CORP: Belongs to all Nigerians can be sold to fools and not a Corporate lawyer like me. Thank You.

When the Independent Counsel Law is established, I will be interested. Be sure to contact me. I take newspaper stories with a grain of salt, but his Spokesperson has not helped his case is all I can say for now.
3.

[Ebe]

So not that this is proper, but its the reality of life for most politicians. And I would argue in a great many democracies around the world this is the norm. How would you explain for example the late PM or Lebanon, Rafik Hariri being a billionaire where he served as Prime Minister for five terms and was one of the most richest men in the world!? When did he do all that business? Did anyone ask where the wealth actually came from? But Forbes magazine did have him on their list of the worlds richest men!

Check out this nauseating piece of garbage! Mobutu Sese Seko was also a billionaire while in office and was one of the world's richest men! So was Daniel Arap Moi. Does that then make it right or legal for Obasanjo to want to join that ignominous group of notorious treasury looters?


Does one man's crime justify another's? What utter lack of core principle!


And if your lobbyist analogy is sustained, then why can't OBJ wait until he leaves office in 2007 to begin a new career as a lobbyist and influence peddler a la the US
politicians that you referenced?

Your examples are forced; they are not equivalents of Mr. OBJ's corrupt practices, and quite frankly they are lame alibis for the prevalent thievery of this government.


Mr. Clinton did not start raising money for his presidential library until he left office. But Mr. Obasanjo did the exact opposite, coercing government agencies, states, and government contractors to donate to his edifice of personal vanity.

What a shame that N.A.R continues to be an apologist for corruption and abuse of office.

[Ebe]

N200 million is a lot of money if you know the President's salary. He got out of jail broke like he himself testified. His powerful friends did not give him money then. Where did he get the money for the shares, for OFN and for Bell? It is misconduct to peddle influence while acting as president. That is why if your Clinton clip is true, there was a hue and cry.

Why don't we push it even further. How did he get the money to start Otta farm, which collapsed while he was in prison only to miraculously revamp to the extent of making, we are told, N30 million monthly abi weekly?

Where is the EFCC while all this monumental presidential larceny goes on?

[antiobj2007]

Trust your President, just be blind to all his escapades! It's only a blind trust who be fool?

Vanguard (Lagos)
EDITORIAL
July 20, 2006
Posted to the web July 20, 2006


PRESIDENT Olusegun Obasanjo recently wondered to a meeting of farmers in Abuja why farmers had not borrowed from the N50 billion government set aside as loans to farmers. "Only our farm has benefitted from the loan," the President said.

He was referring to Obasanjo Farms, which constitutionally cannot be his farm at the moment, as the 1999 Constitution forbids him from being interested in any business, other than the arduous task of running Nigeria. The main reason for this provision is to avoid conflict of interest, and help public office holders to be impartial in dispensing the resources they control on behalf of millions of Nigerians.

The Fifth Schedule 1. of the 1999 Constitution states, "A public officer shall not put himself in a position where his personal interest conflicts with his duties and responsibilities". The Constitution in the Fifth Schedule 2 (b) encourages public officers to engage in farming while in office. Is our farm a business or hobby?

Did Obasanjo Farms meet the objectives of impartiality in obtaining the loan? Was the President embarrassed by the discovery that no other farmer got the loan? We were not told how much Obasanjo Farms got.

If the President is still lost about farmers not borrowing from the funds, the reasons are not difficult to fathom. In the first place, many farmers do not know about the existence of the fund. The real farmers who need the funds do not have access to the high profile modes of communication that the government uses. In the rural setting where they are mostly found, electricity is absence and the cost of batteries for their radio sets is so high that many of them have stopped listening to the radio.

The urban farmers, who could have heard about the funds, might have been scared by government's policy inconsistency. Some of them burnt their fingers taking similar loans, only for government to change the terms, without considering the consequences for the affected farmers. Other reasons would include the impossible documentation that would be demanded from the farmers.

We think that the N50 billion agricultural fund is a good idea. The President should move from wondering about the lack of interest in the loans, to doing something to ensure that the money is used for productive agricultural ventures.

Major challenge for all farmers is infrastructure. They have had to provide everything from primitive farming methods, high costs of equipment and seedlings, roads, storage facilities, water, electricity to security. No matter the amount of money these farmers get as loans, the money is lost in tackling these problems. Most times, the farmers lose the battle and are unable to meet the conditions of their loans.

We suggest that the funds should be invested in areas that. would create an enabling environment for farming. The matter requires very detailed planning, for it would really be a move to develop rural Nigeria and unleash its productive energy.

It would take more than loans to farmers to do this.

[oluye]

Auspicious,
On one of my posts in the past, I clearly pointed out that one of my greatest regrets about the Obasanjo administration was that it had not yet resolved the issue of epileptic power failure. I believed that it is so central to the development of any country that it should have been achieved speedily. Yet, I understand that we can have a superficial solution or a definite one. I was glad to read Dora Akunluyi's(?-Nafdac DG) article about the proffesor who built a power plant. Also we find MAN proposing its own power station. Evidently, until power goes the way of communication, when power plants are privately owned and there is competition the issue will not be resolved. That process has already begun.

I understand humans are not perfect and I give everybody room for that human frailty, I will repeat what I have said in the past on NVS "it is wicked to demand more from Obasanjo in the present circumstances." We cannot judge him by the enormosity of what remains undone but by the distance he has covered. Rather all hands should be on the deck- constructively. Life is a see saw, when some people permanently focus on the negative, others will, by nature balance the see saw by pointing out the obvious good. Imagine, EFCC arrested Adenuga Obasanjo was smeared for it EFCC investigates "Obasanjo's political godson and Obasanjo is still being smeared for it! Who appointed Ribadu in the first place?
Obasanjo I have also pointed out has many faults, like all of us he has bad personality traits. But my point is that leapers will be weepers. When the change we desire in any space of time is too much, we do more damage than good. In a nation where people still loot the treasury directly is it not a dissipation of energy vexing about those who are actually securing themselves through mutually beneficial (i.e. to them and to Nigeria) investments? Everything is relative.
However if you really want to know about Obasanjo's faults, attribute virtues that are not his to him, make him look like an angel and see if I will not be swift to point out his faults.

[kiibaati]

Dear all,

Obasanjo Holdings Limited, through which OBJ makes investment is under an independent management.Provided he does not get involved in management or investment decisions, that to me will be a blind trust.The key issue is control over decision making.

See http://obasanjoholdings.com/mgt.html for the directors.


The fact that a particular investment of the company now becomes public knowledge, especially in the light of OBJ's publicly outspoken support for company, does not reduce the blindness of the trust.

[Profegee]

Whoever has nothing to hide has nothing to fear. It's certainly crystal clear why Obasanjo see considering Plans B & C or at worst enthrone a successor of his wish. At times, it worries me imagining someone who narrowly escaped the valley of the shadow of death by divine intervention becoming something else. What a shallow thinker he is. He wants to turn Nigeria nation into Owu village where he appoints who becomes the king.

His major fear is what becomes of all the government enterprises they sold to themselves should a successor who shares a completely different ideology emerges. Whether he and his cohorts like it or not, I see the next occupant of Aso Rock, nullifying all the sales.

Who cares. They will regret at the end of the day. I see them all becoming poorer than they were in the pre-1999 era.

[gwobezentashi]

@ Ebe2

Where is the EFCC while all this monumental presidential larceny goes on?

Playing ostrich. Hear no evil, see no evil, speak no evil except you are anti-Obj, then we will show you.

Transcorp: Atiku declines offer of 100m shares
Yomi Odunuga, Ayo Olesin and Goddy Egene

Vice-President Atiku Abubakar refused an offer to buy 100million shares made by the Transnational Corporation Plc soon after its incorporation in 2004, our correspondents have learnt.

The shares were offered to initial subscribers at N1 per share, but the unit price was raised to N6.00 during the private placement conducted in April 2006, during which about N18billion was raised.

In a letter addressed to the Managing Director of Transcorp, a copy of which was made available to our correspondents, the vice-president wrote, I have just been informed that some shares have been reserved for me in your corporation for which I am expected to subscribe.

I write to formally inform you of my decline of the offer. I thank you for the kind gesture and wish you best of luck.”

Meanwhile, the Presidency said on Wednesday that President Olusegun Obasanjo did not buy shares in Transcorp.

It had been reported on Wednesday edition that Obasanjo owns 200million shares in the Transcorp, which was acquired when the company was floated in 2004, through a blind trust controlled by Obasanjo Holdings Limited, which oversees the presidents business interests.

But the Senior Special Assistant to the President, Media, Mrs. Oluremi Oyo, told our correspondent in Abuja that the president was not involved in the company, which recently won the bid for the troubled first national operator.

Oyo, in response to our correspondents, inquires about the matter, said, There is nothing to react to. Before the President came in, he divested his interest in all his companies, so if any of the companies decide to buy or invest in other companies, the President is not involved.”

Transcorps Corporate Affairs Manager, Mr. Adebayo Ojo, also tacitly denied Obasanjos involvement in the company.

I do not have any information that the President has any shares in Transcorp,” he told our correspondent on the phone on Wednesday, adding that the presidents spokespeople were in the best position to tell.

He said Transcorp already had more than 2,000 shareholders but could not confirm if Obasanjo was one of them.

Ojo said the company had raised about N17billion share capital and was preparing for its Initial Public Offer, which was likely to be floated before the end of September.

Commenting on the matter, the National Coordinator of Independent Shareholders Association, Mr. Sunny Nwosu, said since Transcorp was an idea of Obasanjo, it was normal for him to invest in it to make other investors have confidence in the company.

What I believe is necessary at this point is to investigate whether the money the president used to buy the shares is ‘clean money. Otherwise there is nothing wrong in his investing in the company,” he said.

However, another shareholder and National Coordinator, Progressive Shareholders Association of Nigeria, Mr. Boniface Okezie, said Obasanjo was supposed to remain neutral.

He said, The move is totally wrong. If the members of his family do that it could be acceptable. He ought to have waited and after leaving office he can buy the shares since the company would be listed on the Nigerian Stock Exchange.”

According to Okezie, it will be difficult to convince people that Transcorp is not buying up governments properties because of Obasanjos influence as an investor in the company.

Nigeria should show transparency. As somebody who is fighting corruption through Economic and Financial Crimes Commission, he should set good examples. Look at the former President of United States, Bill Clinton. He did not own a house while he was in office. It was after he left office that he acquired his own house. That is how it should be,” he said.

The Transcorp idea was conceived by Obasanjo to serve as a national conglomerate, fashioned after the great trading houses of Japan and Korea, to operate in global markets.

http://www.punchng.com/Articl.aspx?t...00608103245890

Action and reaction are equal and opposite.

Atiku’s lawyer, Ricky Tarfa, arrested
By Our Reporter

About 40 men suspected to be officers of the Economic Financial Crimes Commission (EFCC) last night stormed the chambers of Mr. Ricky Tarfa , lawyer to Vice President Atiku Abubakar, and took him into custody.

The men who descended on the building in a commando style were said to be searching for sensitive documents on President Obasanjo, which the vice president might have kept with his lawyer.

As at the time of going to press last night, the security agents were still combing through documents in the chambers to ensure that nothing against the president was left behind. Throughout their search, the security agents prevented people from going into or coming out of the building. The action of the EFCC operatives, said sources, may be connected with the planned launch of Vice President Atiku’s campaign today during which certain revelations are expected to be made.
http://www.leadershipnigeria.com/Ati...20arrested.htm

Aluta!

Gwobezentashi

[Profegee]

No doubt, their ultimate plan is to pocket Nigeria even after leaving presidency. How much are they putting on these public enterprises and who much are they worth? I foresee the next president becoming a figure-head type if care is not taken. The key to the fate and destiny of this nation, they want it to remain permanently in their pockets.

The reason is not far fetched why they need to employ or appoint some disciple to suggest that no-one else loved Nigeria better than a Septuagenarian who claimed the has a monthly turn-over of over N30million from the his Otta farms. Please add Transcorp and others to it, he wants to becomes president outside the presidency.

[Profegee]

Can anyone please tell me what the terms of reference of EFCC? I think it's solely on economic and financial crimes. Why then are they ransacking a lawyer for any evidence that could nail the president, if any?

Is it a crime for a lawyer to have facts and figure to substantiate his claims with. Was it not here at NVS that Nuhu Ribadu was appealing for people to feed them with facts needed to butress their perceived claim. Did Ribadu not ask Gov. Kalu to give EFCC evidence in support of his allegation against Obasanjo?

It surprises me that the same EFCC is not trying to get rid of available facts. I believe the lawyer is not a kid, if there exists any documents, I know he must have several copies.

Kangun, kangun, kangun, a kangun si'bi kan.


Profegee

Japan

[edoji]

The fight gets messier and dirtier !!!!!!!!!!!!!!

[Obugi]

Ebe,

Only those newbies who do not know N.A.R would be shocked at his latest pronouncement rationalizing corruption and arguing basically that the end justifies the means. Ula-Lisa, please save yourself the shock. With N.A.R there are no principles, values, or codes of ethics. It is anything-goes, do-nothing fatalism.

The more important issue is, WHAT IS ANYONE OF US GOING TO DO ABOUT THIS?

The answer is simple: NOTHING!!!!!!!!!!!

One can understand Obugi's sarcasm and underhanded commentary. That's his style. And he likes to provoke with hyperboles. Sometimes he likes to be contrarian for the fun of it. But N.A.R actually believes what he says, which is scary. And of course, he is never man enough to say it himself, hiding behind people to make his obnoxious pro-OBJ pronouncements.

What is beyond belief is that a simple, straightforward presentation of FACT can be dismissed as sarcasm.

What other fact based beliefs do I hold are dismissed as sarcasm?

1. That Jesus/Mohammed are not any holier than Oduduwa.

2. That not one of us on this board will do anything to OBJ even if he steals the entire foreign reserve.

3. That some of us enjoy the fruits of Oyibo evil and at the same time condemn Black ppl for the same thing. If this is not hypocrisy, what is?

The question is, WILL TRANSCORP CONTRIBUTE TO ECONOMIC DEVELOPMENT?

If Transcorp will provide 15K new jobs at a minimum of say, $1000 dollars each in the next two years and hire based on merit, what is the wahala if OBJ & the Gang make a $10billion dollars out of it?

So what exactly is the incorruptible African intelligensia abroad doing to further development?

The comparison with Mobutu & Moi is nonsensical. We KNOW that their corruption did not provide any advantages to their ppl. With regard to TransCorp, the future will tell.

Those who bought Halliburton stock are smiling to the bank, and GWB and Cheney's Iraqi war contributed to that profit. So who among us would turn down a six-figure salary from Halliburton's Nigeria subsidiary?

This na just jealousy. Most Africans can't stand seeing a fellow African make money. If you want to buy TransCorp stock, go buy some. Or go start a business in Nigeria. Stop the red-eye jealousy abeg. With all our degrees and big Oyibo, non of us can stand toe to toe with OBJ & the Gang.

How low will an African go? Its anybodys guess!

Get Yours!
Obugi.

[Iphey]

Originally Posted by Soul Sista

Ebe2,

There are different kinds of blind trusts, not only the type you have identified. The main thing is that the office holder beneficiary should not have knowledge of or control over the assets in the trust once the trust is created. But even this requirement of blindness as to assets now seems like it can be waived. You may recall the wahala over Bill Frist's blind trust last year. He instructed the trustees of his blind trust to sell assets in a fledging family controlled health sector corporation and there was a fair deal of discussion as to whether the trust was really blind if he knew the assets in it and could instruct the trustees to sell. According to the relevant Senate ethics rules, and much to my surprise, it was a permissible type of blind trust!! Can you beat that?

Nothwithstanding Frist, the essence is the "blindness," not the time at which the assets were purchased as you seem to be implying. So, an office holder can transfer her assets to a blind trust at the beginning of her term. And the trustees of the blind trust may continue buying and selling different assets all through her term in office. There is nothing to be gained from preventing her blind trustees from buying choice assets during the term so long as she does not know about them or excercise any untoward influence that would be in conflict with the duties she owes. The idea is to avoid a conflict of interest not to pauperize an officeholder.

However we look at it, OBJ is wrong on Transcorp. Basically looks like his supposedly blind trust was taking purchasing instructions from him. What a joke!!

Soul Sista

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

You know I had to get out my black laws dictionary to check the definition of "blind trust" and this is what it says

" A trust in which the settlor places investments under the control of an independent trustee, usually to avoid a conflict of interest.”

Soul my Sista, please tell me what other types of blind trust exists… I know there are different types of trusteeships ranging from revocable to non-revocable, discretionary to governmental trusts, but since law school, I have always been under the impression that only one type of blind trust exists but that many types of trust instruments do indeed exists and can be created. This might just be semantics but I am curious, so please just oblige me…

[Ebe]

Obugi,

Nothing surprises me about you anymore, my friend. What else is new with you? Have you not vehemently defended the 419 scourge on this board several times?

At least now it's officially on record that you do not have a problem with corruption, abuse of office, and other executive acts of thievery if the proceeds benefit some Nigerians. This is not only an immoral belief, it is quite silly and lacking any factual basis. You seem to imply that some corrupt practices do not benefit any Nigerians. This is patently not true. Please show me a corrupt government figure whose loot has not benefitted any Nigerian. At the very least, his friends and family benefit from his corruption. By your logic, this makes it okay. What is even sillier is the notion that some kinds of corruption are okay while others are not, and that how the loot is used is more important than the fact that a serious national crime, which deprives Nigerians of the money to provide roads, electricity, water, hospitals, etc, has been committed.

The comparison with Mobutu & Moi is nonsensical. We KNOW that their corruption did not provide any advantages to their ppl. With regard to TransCorp, the future will tell.

The news for you, Pal, is that thousands of Kenyans and Congolese benefitted from the corrupt wealth of these scumbags--friends, associates, business partners, employees, family, etc. I guess this makes it okay that they stole their countries blind.

Oya, forward with "the end justifies the means" ideology; it's your prerogative. At this rate, even Al Capone has better morals and ethics than our Obugi.

[Obugi]

Ebe,

FACT: You and I are enjoying the benefits of Oyibo violence, corruption and racism. Until you tell us how money we earn under US auspicies and protection is corruption-free, you have no argument to stand on.

I would prefer that Nigeria was an orderly place where the govt cared for the people and their interests. Alas, neither you, myself or any other Nigerian is willing to do what is needed to bring about such a government.

Such being the case, it is better to have try corrupt TransCorp and see if it will create jobs and provide goods and services, than continue relying on corrupt govt owned entities that HAVE PROVEN that they can do neither.

Not only TransCorp. Have you checked out ABTI University, partly owned by VP Atiku? Very soon such private schls like Covenant, Igbinideon and Madonna Univ will surpass places like Unilag, Ife and Nsukka by every measure of educational excellence.

Here: Never Mind Theirs: Get Yours!


Obugi.

It would have been an under statement for me to be surprised at the shares Obasanjo was said to have aquired at Transcop.going by the mans pedigree we ought not to be surprise because we all knows how he cut corners to aquire Ota farm,dispossesing innocent land owners of there ancestral heritage,through his obnocious land act decree of 1976,which is both retrogresive and ati people,and against all civil norms.
Again the same man who has used the EFCC as a cover up to all his atrocitiescan not claim in all honest,sincerity that he has not stolen from the people since the people signed the social contract with him since 1999 to date,even if he excapes the long arm of the law because of the kind of sysytem we are in he cant excape the judgement of God,which is supreme.Look at how much Nigeria is making from oil and yet young graduate can't get emplyment,the few that had jobs are loosing same while they are preaching reform in high and low places,the simple question then is ,is reform not meant fro the living or is it when all Nigerian are dead that the reform can be impactful.
As a way of summary,to say that Obasanjo is more corrupt than Abacha,can not be an overstatement considering the enormous wealthe the country has seen since he became the democratic president and yet the people can't enjoy any of the necessary amenities of Life,rather what he intended to do was to extend his tenure through undemocratic means by hounding perceived political enemies,May God save our country and the peolple.
Chris uke lonu contributed from the U.S

[SOJOURNER]

I cannot understand all the wahalah about Baba shares in the Transcorp.Baba second coming was not to serve nigeria and nigerians but to correct the mistakes he made in his first coming when the only thing he manage to take into his retirement was some machineries from Operation Feed the Nation while his second in command became a chief player in banking,shipping and oil.This time around Baba doesn't want to go back plodding along his chicken farm but rather the old man want to follow the step of late Yar Adua, to goose step along the corridor of coporate nigeria with our stolen inheritance.Who says OBJ has not truely arrived

[Ebe]

Such being the case, it is better to have try corrupt TransCorp and see if it will create jobs and provide goods and services, than continue relying on corrupt govt owned entities that HAVE PROVEN that they can do neither.

Obugi,

Convoluted logic. Corruption only begets more corruption. How can you recommend a compromise with corruption and thievery? Na wao. Like I said, you cannot shock me anymore. Anyone who finds nothing wrong with anything as along as it makes someone money is absolutely devoid of any values or sense of propriety.

Not only TransCorp. Have you checked out ABTI University, partly owned by VP Atiku? Very soon such private schls like Covenant, Igbinideon and Madonna Univ will surpass places like Unilag, Ife and Nsukka by every measure of educational excellence.

I hope you're not suggesting that all these private universities are products of corruption. The other universities in your list would vehemently protest your lumping them with ABTI, a child of Atiku's dirty money.

Your lame justification of corruption with the hollow claim that everything involves corruption is not even worthy of a response. You obviously occupy a different moral universe than most people.

[Shoko Loko Bangoshe]

Ebe, just to clarify, are you saying that when it comes to morality and ethics, it's an all-or-nothing situation? Either you are clean or you are dirty - there's no question of degree of cleanliness/dirtiness?