N255m Car Scandal: Ministry Denies Granting Waiver

The federal ministry of Finance has denied allegations that it granted waivers for the importation of the N255 million armoured cars allegedly purchased for the embattled minister of aviation

A statement from the ministry signed by Paul Nwabuikwu, Special Adviser to the Coordinating Minister for the Economy and Minister of Finance said the ministry only granted waiver to the Lagos state government for its National Sports Festival.
The ministry said it did not grant any exemption for the importation of armoured cars.

According to Paul Nwabuikwu, “reports which claim that the Federal Ministry of Finance granted a waiver to Coscharis Motors Nigeria Ltd for the purchase of armoured cars are totally false and without foundation.”
Rather, he disclosed that “on June 23, 2012, the Lagos State Government applied for Waiver of Destination Inspection Charges and Duty Exemptions for Coscharis Motors Nigeria Ltd, the official Automobile Partner for the National Sports Festival (“EKO 2012”), to purchase 300 vehicles on its behalf for the event. Since the Lagos State Government met the laid down criteria, the waiver was granted.”

He emphasised that “the waiver granted to the Lagos State Government for the event did not include the purchase of armoured vehicles.”

A Deputy Comptroller of Customs in charge of Modern Research and Economic Relations, Manasa Daniel Jatau had disclosed at the House of Representatives public hearing on the scandalous purchase of two armoured vehicles for the minister of aviation for N255 million, that N10,133,505.74 which should have come to the federal government was waived for Coscharis.

In 2012, the Lagos state government was granted waiver by President Goodluck Jonathan on import duty, value added tax, ETLS, CISS and other port charges to import 300 units of BMW, Ford, Land Rover, Range Rover, Lexus, Mercedes, Escalade, Jaguar and buses for use during the 18th National Sports Festival (EKO 2012) to be imported through Messrs Coscharis Motors Nigeria Limited.

ballabriggs:

Rather, he disclosed that “on June 23, 2012, the Lagos State Government applied for Waiver of Destination Inspection Charges and Duty Exemptions for Coscharis Motors Nigeria Ltd, the official Automobile Partner for the National Sports Festival (“EKO 2012”), to purchase 300 vehicles on its behalf for the event. Since the Lagos State Government met the laid down criteria, the waiver was granted.”

Source

taharqa2:

You HYPOCRITES shouting at the top of about the No of cars the Aviation ministry bought and calling it EXTRAVAGANT, LASG bought 300 BRAND NEW cars for the National Sports Festival last year- a temporary less than 2 weeks event. How much WASTEFUL can one get?

By the way, who were the 300 cars Distributed to after the Sporting event??

taharqa2:

You HYPOCRITES shouting at the top of about the No of cars the Aviation ministry bought and calling it EXTRAVAGANT, LASG bought 300 BRAND NEW cars for the National Sports Festival last year- a temporary less than 2 weeks event. How much WASTEFUL can one get?

By the way, who were the 300 cars Distributed to after the Sporting event??

taharqa2:
[s]
You HYPOCRITES shouting at the top of about the No of cars the Aviation ministry bought and calling it EXTRAVAGANT, LASG bought 300 BRAND NEW cars for the National Sports Festival last year- a temporary less than 2 weeks event. How much WASTEFUL can one get?

By the way, who were the 300 cars Distributed to after the Sporting event??

[/s]

ballabriggs:

Close your mouth you deceitful being. It is the practice to have cars imported for a government event with zero import tariff. Import using our waiver, lend us the car for our event and at the end of the event you have your car back.

Instead of we paying you cash to hire vehicles from you, you get benefits from the tariff free import. Simple!

We saw the partnership between LUBOAN and COJA. We saw same between the rogue Coscharis and CHOGM.

The buses were never bought by COJA, it was owned by LUBOAN.

Tolexander: [size=20pt]RED HERRING![/size]
face the topic, leave lagos state alone.

This is a national issue not a state. No matter how big a state is in the nation, it can never be equated to the nation!

LEKKI-EPE EXPRESSWAY CONCESSIONINIG/'UN'CONCESSIONING FRAUD

Smoothest FRAUD in this country's history. Period...

A road that is suppossed to cost #50bn (already abnormally costly at #1bn per km, sm would say) to be constructed by d Concessionaires who are then expected to recoup their costs AFTER they must have finished construction tru tolling. After 7 years the road is no where near completion, yet d Concessionaires started collecting tolls illegally in d last 3 years (at an average of #4.2billion annually according to results from Survey conducted by the Concessionaire in 2011). Suddenly, in stead of d LASG terminating d contract Or, at least pressuring d Concessionaire to implement their own terms of d contract, the Govt is amazingly paying them #15bn to 'buy back' this failed Concession, #6.8bn and #3.5bn to pay the Debts and 3rd party liabilities incurred by the failed Concessionaire (yes, LASG is willing to even pay these people's debt!!!) ie more than #25bn in total.

This is apart from d #5bn the Govt initiali paid to d Concessionaires at d start of d scheme. And, WAIT for it: LASG also intends borrowing #87.7bn by raising a bond to then build d road itself . That is more than #103bn in total. This is from a project that was suppossed to cost #50bn (which was considered even too expensive at this figure then)!!! And to make d whole mata worse, d LASG wud still retain this same failed Concessaire, and apparently STILL PAY THEM either to collect tolls on d road or continuing building d road!!!.


THE QUESTION IS: WHO IS BEHIND THIS LCC CONCESSIONAIRE?? Who is chopping these humongous money from Lagos State Tax payers, with impunity? And why the UNIMAGINABLE Hypocritical SILENCE from peeps?

http://www.tellng.com/business/question-over-lekki-concession-buy-back

http://allafrica.com/stories/201308300319.html

UPDATE:

#sorry, the total amount that wud eventuali be spent is more than #130bn, and not even the #103bn I initiali thought: #15bn to 'buy back' d FAILED Concession; #6.8bn and #3.5bn to pay the Debts incurred by the FAILED Concessionaire; #5bn initiali paid by d LASG to d Concessionaire at d start of d project; and of course, d #87.7bn the LASG wud borrow tru placing Bonds to 'complete' d road. Adding all these, plus the monies the Concessionaires have collected since 2011 as Tolls, shld begin to give d fuller extent of d amount involved in this Fraud!!!....

Oh! Shiit: I also forgot to add d #35bn d Concessionaires said they already spent on the largely unfinished road. Adding everything will lead to a total of bw #170- #180bn spent on a 49km Road.
Also, at an Interest rate of bw 10%-15% that the LASG would have to pay (annually?) in order to access the original Principal Bond sum of #87.7billion, the total cost that would be spent to construct this fraud of a road would then certainly cross the #200billion-mark!

I feel SICK in the stomach right now embarassed embarassed embarassed

taharqa2:

OK. I concede that this MAY be another explanation for it, although the Lagos official who was contacted on the issue didn't make this clarification. #Waitingdetailsonthis.

By the way, if you knew about this why didn't apply it to the African First ladies' case. I recall both the Presidency and this same Cosharis were almost at pains, explaining that the 40 cars used for that event was 'borrowed' and not bought. Were you not one of the TOOOLS then vehemently arguing otherwise here?

taharqa2:

Come on SHUT that ya Hypocritical mouth UP, tha!

What is 'state-ly' about this:

taharqa2:

OK. I concede that this MAY be another explanation for it, although the Lagos official who was contacted on the issue didn't make this clarification. #Waitingdetailsonthis.

By the way, if you knew about this why didn't apply it to the African First ladies' case. I recall both the Presidency and this same Cosharis were almost at pains, explaining that the 40 cars used for that event was 'borrowed' and not bought. Were you not one of the TOOOLS then vehemently arguing otherwise here?

Sincere 9gerian:
Why did you concede to that lower animal? If the reverse was the case, they would never concede anything to you. Rather they will unleash more and more venom. They'r hypocritical nematodes

taharqa2:

Come on SHUT that ya Hypocritical mouth UP, tha!

What is 'state-ly' about this:

taharqa2:

Come on SHUT that ya Hypocritical mouth UP, tha!

What is 'state-ly' about this:

Prof Corruption:


You can't fight sound logic with pure illogicality.

Prof Corruption: Mrs Stella Corruption Oduah should do the needful.

Sincere 9gerian:
Do APC rats know the meaning of logic?

Whether you guys like it or not, Fashola must explain the whereabout of those 300 vehicles. The very superficial explanation cannot fly or atleast, the explanation must come from official quarters.

berem: She is now officially your wife. Prof. and Mrs Corruption. Do the needful and make sure she doesn't get sacked!

Sincere 9gerian:
Why did you concede to that lower animal? If the reverse was the case, they would never concede anything to you. Rather they will unleash more and more venom. They'r hypocritical nematodes.

By the way, the report said Lagos State govt purchased (not "lend" ) 300 cars. Fashola must explain the whereabout of those 300 cars.

free R1:

This is the quote “on June 23, 2012, the Lagos State Government applied for Waiver of Destination Inspection Charges and Duty Exemptions for Coscharis Motors Nigeria Ltd, the official Automobile Partner for the National Sports Festival (“EKO 2012”), to purchase 300 vehicles on its behalf for the event. Since the Lagos State Government met the laid down criteria, the waiver was granted.

Coscharis purchased the vehicles on behalf of LASG for the event. LASG never purchased any vehicle rather, as an official partner, Coscharis supplied the vehicles to LASG. The vehicles remain the property of Coscharis. It is a win-win deal to the two parties. This is a usual practice when hosting such events. Anyway Fashola is no longer a tribalist, he chose to partner with an igbo man (Coscharis) instead of Elizade (a yoruba man). Why is no one noticing this?