[size=14pt]Ribadu worth N26 million at end of EFCC tenure [/size]
By Emmanuel Ogala and Festus Owete
December 29, 2010 01:15AM

Nuhu Ribadu, a presidential aspirant under the Action Congress of Nigeria, was worth about N26.59 million in assets and cash while leaving office as the chairman of the Economic and Financial Crimes Commission (EFCC) in 2007, details of asset declaration documents exclusively obtained by NEXT have revealed.

According to the end of tenure asset declaration document which was declared before Abubakar S. Umar, a Justice of the High Court of Justice in Abuja on 26 November, 2008, Mr. Ribadu lost N1.357 million worth of assets during his five-year tenure as chairman of EFCC.

The documents, which were admitted by a three-man panel of the Code of Conduct Tribunal led by Justice Constance Momoh in December 2009, show that Mr. Ribadu was worth N27.94 million by March 2002, before he became the EFCC chairman.

For public scrutiny

Details of the document show that before Mr. Ribadu became the EFCC chair, he had 187 cows valued at N7.5 million, a residential quarters in Yola worth N4.5 million, and a N10 million land in Abuja. He also had a Honda Accord car valued at N2 million, a Honda CRV valued at N2.3 million and N1.6 million and £200 cash in two local banks and a London bank respectively.

The end of tenure asset declaration by Mr. Ribadu shows that while he was leaving EFCC in 2008, he had $8,064 in two local banks, sourced from his allowances, a plot of land at Katampe Hills in Abuja valued at N2 million, a residential quarters in Yola valued at N5 million, and a N200,000 home furniture. He also had a N2.3 million Honda Accord car bought in 2006.

He, however, lost 67 cows and was left with 120 cows valued at N5 million.

Mr. Ribadu, who was finally relieved of his duty as chairman of EFCC, was prosecuted half way by the late Umaru Musa Yar'Adua-led government at the Code of Conduct Tribunal over allegations that he did not declare his assets before taking up the EFCC job.

In late 2008, he went on a self-imposed exile after alleging threats to his life, but the case against him was dropped at the Code of Conduct Tribunal by the federal government after the death of Mr. Yar'Adua and the subsequent removal of Michael Aondoakaa as the attorney general of the federation and minister of justice.

Adetokunbo Kayode, who took over the Justice ministry from Mr. Aaondoaka, had before the dissolution of the cabinet by President Goodluck Jonathan, reviewed the case against Mr. Ribadu and directed that the case should be withdrawn. He later filed a Nolle Prosequi to discontinue the case.

A case of vendetta

Mr. Ribadu, who confirmed the validity of the documents, described the case the government had against him as vendetta by the Yar'Adua administration, which was filled with men he had put up for prosecution while he was in office as EFCC chairman.

He said that although the Goodluck Jonathan's administration withdrew the case and made it easy for him to return to the country, he would have preferred a logical conclusion of the case.

"My lawyers already filed that the case be struck out following the admission of my 2002 asset declaration forms by the Justice Constance Momoh-led panel in December 2009," he said.

The return of Mr. Ribadu and others who went into exile was one of the achievements listed by President Jonathan as one of the tangible achievements of his administration.

On his Facebook page on Christmas Eve the president wrote:

"Last Christmas, several exiles such as Nuhu Ribadu and Nasir El-Rufai, etc., spent Christmas away from their friends and families. But this Christmas, they have the liberty to be with their friends and families in Nigeria. Plus, there are NO Nigerian political exiles outside Nigeria this Christmas."


http://234next.com/csp/cms/sites/Next/News/5658924-146/ribadu_worth_n26_million_at_end.csp

N26 milla! Who is fooling who? I think Ribadu is not being very generous with the truth.

what is is with hausa people and cows

beaf should get a job at fox news.

he has learnt all the dirty, sleazy tricks of republican  politics a'la swift boating etal.

unfortunately for him, this isn't tv

anyone with a brain will see that this is more of a vindication of ribadu tan anything else

team gej, a bunch of sleazy dubious liars backing a crippled horse and only good for spreading hal truths about thier losers opponents

says a lot about the man they are backing, not so  

Nuhu Ribadu, a presidential aspirant under the Action Congress of Nigeria, was worth about N26.59 million in assets and cash while leaving office as the chairman of the Economic and Financial Crimes Commission (EFCC) in 2007, details of asset declaration documents exclusively obtained by NEXT have revealed.

According to the end of tenure asset declaration document which was declared before Abubakar S. Umar, a Justice of the High Court of Justice in Abuja on 26 November, 2008, Mr. Ribadu lost N1.357 million worth of assets during his five-year tenure as chairman of EFCC.

The documents, which were admitted by a three-man panel of the Code of Conduct Tribunal led by Justice Constance Momoh in December 2009, show that Mr. Ribadu was worth N27.94 million by March 2002, before he became the EFCC chairman.

For public scrutiny

Details of the document show that before Mr. Ribadu became the EFCC chair, he had 187 cows valued at N7.5 million, a residential quarters in Yola worth N4.5 million, and a N10 million land in Abuja. He also had a Honda Accord car valued at N2 million, a Honda CRV valued at N2.3 million and N1.6 million and £200 cash in two local banks and a London bank respectively.

The end of tenure asset declaration by Mr. Ribadu shows that while he was leaving EFCC in 2008, he had $8,064 in two local banks, sourced from his allowances, a plot of land at Katampe Hills in Abuja valued at N2 million, a residential quarters in Yola valued at N5 million, and a N200,000 home furniture. He also had a N2.3 million Honda Accord car bought in 2006.

He, however, lost 67 cows and was left with 120 cows valued at N5 million.

Mr. Ribadu, who was finally relieved of his duty as chairman of EFCC, was prosecuted half way by the late Umaru Musa Yar'Adua-led government at the Code of Conduct Tribunal over [b]allegations that he did not declare his assets [/b]before taking up the EFCC job

his assets come nowhere near those of fresh air gej, who it will be recalled initially refused to declare his assets.it seems he is waiting for 'the appropriate time' to declare his assets again

what can i say, inexperienced president, inexperienced spin doctors  

Beaf:



Details of the document show that before Mr. Ribadu became the EFCC chair, he had 187 cows valued at N7.5 million,
He, however, lost 67 cows and was left with 120 cows valued at N5 million.

LMAO

Anyways, N26 million= $173,000. Not an unreasonable amount and not evidence of corruption, unless I missed something.

He might not win, but of all evils he is the lesser. In my opinion he is the best candidate.

ROTFLMAO @ £200 cash in two local banks and a London bank respectively.
Can someone please explain the above??

N26Millon??
That is very reasonable if indeed true.

His assets and money lodged in banks - both home and abroad are quite fair. . . Although bordering on the ridonculous

well that is small fry compared to 300million naira, after 1/2 a term as deputy governor of Bayelsa state. Now who is more suspecious?

oyb:

[size=13pt]Details of the document show that before Mr. Ribadu became the EFCC chair, he had 187 cows valued at N7.5 million, a residential quarters in Yola worth N4.5 million, and a N10 million land in Abuja. He also had a Honda Accord car valued at N2 million, a Honda CRV valued at N2.3 million and N1.6 million and £200 cash in two local banks and a London bank respectively.

The end of tenure asset declaration by Mr. Ribadu shows that while he was leaving EFCC in 2008, he had $8,064 in two local banks, sourced from his allowances, a plot of land at Katampe Hills in Abuja valued at N2 million, a residential quarters in Yola valued at N5 million, and a N200,000 home furniture. He also had a N2.3 million Honda Accord car bought in 2006.[/size]

He, however, lost 67 cows and was left with 120 cows valued at N5 million.

Mr. Ribadu, who was finally relieved of his duty as chairman of EFCC, was prosecuted half way by the late Umaru Musa Yar'Adua-led government at the Code of Conduct Tribunal over allegations that he did not declare his assets before taking up the EFCC job

ABI OOO!!! I am pleased . . . even if im steal money sef, he no steal as much as I would think PHD holder turned politician claimed after about the same amount of time as deputy governor(was governor for half a minute) stole. 

Imagine that . . . the cost of his houses are close to what the average Nigerian are used to. This is near excellent by Nigerian standards!

Men this Ribadu guy is soooooo effn poor!

With all the opportunity to make serious dough and he sacrificed it on the alter of being honest! I hope Nigerians will appreciate his sacrifice

Can you imagine all the money he has is more than what a senator makes in a month!

This Ribadu guy really deserve to be the president. At least he will perform far better than chicken liver-ed GEJ

Beaf as i have said - you are a robot and the Ability reason objectively has not yet been coded.

Firstly

26 Million which mostly comprises of assets and not cash in the Nigerian context for man who was top ranking officer cannot be tagged as illegally gained is only releative to what has he has geninuely earned. Unlike your so called GEJ who declared almost 1billion if not more as failed custom officer , some backward phd professor and now an imposed President.



[size=20pt]GEJ Declared Asset - on a salary of Custom officer, Lecturer and Governor -WHO IS THE FOOL HERE[/size]



A break down of the assets of the vice president indicates that he has four buildings located in Yenegoa, Abuja and his home town in Ogbia, Bayelsa state.

The Vice president said he owns a five bedroom Duplex in Gwarimpa 11, Abuja which was acquired in 2003 through loan and is valued at N24,990,000 while another Seven Bedroom Duplex, which he described as Village personal Home is located at Otuoke in Ogbia Local government area of Bayelsa state. It is valued at the cost of N18,000, 000 and was acquired through ‘savings and gifts in Kind.

The last of the Vice president’s residential buildings are the Four bedroom Duplex acquired in 2003 through ‘savings and gift in Kind’ in the Kpansia area of Yenegoa. The value of the building, he said is N15,000,000. The last Building is the extended Family house in Yenegoa which he said is a four flat storey Building acquired between 2003 and 2007 through savings. The value of the property is put at N10,000,000.

Under vacant and undeveloped plots, the vice president stated as follows: 1032.50 square meter of land located at Onopa Yenegoa and valued at N3,098.00. Plot 2C, 374 Low density Area Yenegoa allocated by the bayelsa state government and valued at N150,000. 2760.00 square meter plot at cadastral Zone BO2, Durumi, Abuja allocated by the federal Capital Development Authority and valued at N5,578,540. One Parcel of farm Land at Otuoke Ogbia acquired through inheritance and estimated at the value of N50,000,000.

Plot Medium Density in Yenegoa allocated by the Federal Ministry of Works and housing the value of which he said is N1550.00

Plot 29, Low density Area Plot in Yenegoa allocated by the Bayelsa state government the value of which is put at N4,908. While the last undeveloped plot owned by the vice president is plot 2246 Cadastral Zone A06, Abuja the value of which he put at N4, 800,000. It was allocated by the Federal Capital development Authority, FCDA

The Vice president’s investment in stocks which is being managed by City Code Investment Company is as follows.

S/No Name of Stock Number Of Shares Value As At 5/25/07
1 CADBURY PLC 8,666 N264,313
2 FLOUR MILLS PLC 8,466 N635,119.32
3 GUINESS NIG. PLC 6,395 N796,177.50
4 UNILEVER 18,750 N337,500
5 UNION BANK OF NIG. PLC 23,466 N727,446
6 FIDELITY BANK PLC 33,333 N296,663.70
7 UBA PLC 180,000 N6,838,200
8 ACCESS BANK PLC 84,656 N1,635,553.92
9 CADBURY PLC 2,500 N76,250
10 UNION BANK PLC 716,109 N22,199,379
11 FIRST BANK PLC 20,000 N808,000
12 FLOUR MILLS PLC 13,333 N1,000,241.66
13 NIGERIAN BREWERIES PLC 10,000 N363,000
14 BANK PHB PLC 866,666 N24,959,980.80
15 OANDO 15,125 N1,134,375

TOTAL 2,007,465 N62,072,200

Other investments include 4nos passenger boats for hiring which is valued at N5, 260,000. While the total cash in Nigerian banks being personal saving of salaries/allowances and income from his investments stands at N58, 984,123.

GEJ UNDECLARED ASSET

In another bizarre twist, when Chief Timipre Sylva assumed office as Governor of Bayelsa State, there were wide spread speculations that the Bayelsa State was heavily indebted. Although Governor Sylva in a press briefing cleared the air by saying that his predecessor did not leave behind any debts, there are now discordant reports to that effect. Such indications emerged clearly at a recently concluded Budget Retreat organized by the Government of Bayelsa State where the Commissioner of Finance & Budget stated in unambiguous terms that the State has been reeling under a debt of more than N28 billion.

The results of our investigations are startling but some of them are still inconclusive because the investigator could not have access to certain vital documents. The Acting President Dr. Goodluck Jonathan has much more property and assets that were not declared. Our informant who preferred anonymity said that the most annoying project that served as a drainpipe in the Jonathan administration was the Gas Turbine project awarded to an indigenous company owned by an Ogbia Woman. The initial contract value was N4 billion Naira but the sum was later reviewed upwards to N8 billion. Two things were wrong with the contract. First, the award did not follow Due Process. Secondly, rather than buy new turbines, the contractor merely refurbished the broken parts of the old turbine. Experts estimated that not up to N1 billion was spent while the other N7billion went into the pockets of the two parties.

Again, one Moses Otazi who served as Dr. Goodluck’s Chief of Staff is believed to have stolen about N150 million from Government House and hid the money at Ewoi his wife’s village.

The Jonathan administration also huge sums of money for non-existent rice farms. One of such farms is said to have been at Elebele estimated at N300 million. Beyond that the Acting President owns three multi-million Naira hotels. One of them is adjacent to Chief. DSP Alamieyeseigha’s residence in Yenagoa. Another gigantic hotel owned by the Acting President is situated after Commissioner’s quarters along Elebele Road near AIT office in Yenagoa. There are unconfirmed reports too that the Acting President owns a building estimated at N1 billion at Victoria Island, Lagos. The aforementioned property were not declared to the Code of Conduct Bureau as Assets owned by the man. This is in addition to the massive Otueke Hotel owned by Dame Patience Jonathan.

Beaf should come and explain the reason behind his post. This is verging on the ridiculous.

Is it not dbanj that sang /(owo yato sowo).money pass money.
Now i know.

ribadu is a true aboki  

cows and honda cars  

see small boy   ogas in my company drive better cars - honda crv - that glorified station wagon (the man no see honda pilot?   ) and honda accord - moto for the masses . even inexperienced gej is doing better  with  beamers 9its in his asset declaration  )

Ibime:

Beaf should come and explain the reason behind his post. This is verging on the ridiculous.

since beafs attempt to bamboozle us with gej's achievements, stellar personality, wide sex appeal, honesty, inexperience have failed , he has to resort to character assasination.

hence the peddling of unfounded rumours and innuendo about tinubu, atiku, buhari, all of which have come to naught, and none of which have made it beyond publications in the cloud

I bet you Beaf did not bank on this sort of response. This has really turned back and bitten him on the A$$. To bad brother, those who live in glass houses should not throw Bricks

ALL I AM SAYING IS THAT NIGERIANS SHOULD OPEN THIER EYES. Buhari- Utomi - Ribadu remain my choices come 2011. give us a buhari and see how all these criminals end up sick all of a sudden. With Buhari in power, ibb, obj, atiku and others WONT no peace.

@Honeric01,

You might be right, but all have to get involved to drive the evil pdp out.

oyb:

ribadu is a true aboki  

cows and honda cars  

see small boy   ogas in my company drive better cars - honda crv - that glorified station wagon (the man no see honda pilot?   ) and honda accord - moto for the masses . even inexperienced gej is doing better  with  beamers 9its in his asset declaration  )

since beafs attempt to bamboozle us with gej's achievements, stellar personality, wide sex appeal, honesty, inexperience have failed , he has to resort to character assasination.

hence the peddling of unfounded rumours and innuendo about tinubu, atiku, buhari, all of which have come to naught, and none of which have made it beyond publications in the cloud

Just 26m ?

I must vote for this guy !

sochan:

I bet you Beaf did not bank on this sort of response. This has really turned back and bitten him on the A$$. To bad brother, those who live in glass houses should not throw Bricks

beaf seems to think nairaland is full of illiterate credulous village eediots who can't read and accept meaningless headlines


in fact, i recommend the mods immediately rename to less duplicitous title and reban beaf for malicious misrepresentation. the topic of the thread is pure slander, and an abuse of next's article

~Bluetooth:

Just 26m ?

I must vote for this guy !

i know salaried employees younger than me who have houses worth more than that

@sochan,
Yes we all need to by voting in the right people. Have u notice how buhari distant himself from criminals?

An honest man cannot win in Nigeria.

The return of Mr. Ribadu and others who went into exile was one of the achievements listed by President Jonathan as one of the tangible achievements of his administration.

On his Facebook page on Christmas Eve the president wrote:

Sharon_f:

An honest man cannot win in Nigeria.

Not really.

A good look at the situation in Ivory coast shows that the whole world is interested in what's going on in Africa and any attempt to rig the 2011  will be severely restricted.

Say[b] NO[/b] to puppet president !

honeric01:

@sochan,
Yes we all need to by voting in the right people. Have u notice how buhari distant himself from criminals?

Indeed. Meanwhile GEJ is surrounded by master criminals , looters and very evil characters yet some folks , especially ethnic warlords from his region , claim he is best placed to lead Nigeria  

As per Ribadu, it is only a fool or ethnically bigoted fans of GEJ wo will say Ribadu is not simply one of the best candidates to lead Nigeria. There was never any question about Ribadu austere nature and immaterialism. We forget that this same man took a $15 million bribe to the CBN as evidence against the bribe-giver James Ibori. If Ribadu is the theif his detractors claim he is why did he not accept $15 million tax free cash? How many leaders today can spurn such an offer? The man has his fault but if we are at all a serious people we will all unanimously want the likes of Ribadu involved with Nigeria at the highest level possible.

God give us men, with strong heart, great minds, true faith and ready hands.

Men whom the lust of office does not kills

Men whom the spoils of office cannot buy.

Ribadu earns my respect with this

Gbawe:


Indeed. Meanwhile GEJ is surrounded by master criminals , looters and very evil characters yet some folks , especially ethnic warlords from his region , claim he is best placed to lead Nigeria  

As per Ribadu, it is only a fool or ethnically bigoted fans of GEJ wo will say Ribadu is not simply one of the best candidates to lead Nigeria. There was never any question about Ribadu austere nature and immaterialism. We forget that this same man took a $15 million bribe to the CBN as evidence against the bribe-giver James Ibori. If Ribadu is the theif his detractors claim he is why did he not accept $15 million tax free cash? How many leaders today can spurn such an offer? The man has his fault but if we are at all a serious people we will all unanimously want the likes of Ribadu involved with Nigeria at the highest level possible.

QED

Vote Ribadu 2011

@honeric01,

Yes he has but, I also expect him to vigorously and in the strongest of terms condemn the recent killings in the North, that is likely to give his fiercest critics an opportunity to see him in a different light.

Whether he likes it or not uncomplimentary comments especially with his religion has continued to follow him around like a bad smell


That said, he is an upright man, who has my support, but I aslo thinks he needs big clever brains behind, success cannot be achive with brute force alone

What do you guys think of this combination

Buhari / Utomi team, Ribadu head of security

violent:

God give us men, with strong heart, great minds, true faith and ready hands.

Men whom the lust of office does not kills

Men whom the spoils of office cannot buy.

Ribadu earns my respect with this, i'm sure the dude had opportunities of amassing billions in wealth if he wanted to

This is not in doubt at all. The man shunned the cash overtures of the corrupt many, many times (it is in his book) unlike how a common criminal like Aondoakaa was openly shaking down the corrupt for $millions like a black AL Capone. This is what we do in Nigeria i.e God gives us good men now and then yet , due to a cocktail of innate madness and ethnic insecurity, we conspire to bring these men down so they are then replaced by crooks who carry on the looting we complain bitterly about. Many of us are our own worst enemies even if we cannot see that.

@Gbawe,

Come oh, have they dis-barred Aondoakaa? The ediot does not deserve to sell pepper in the market let alone being a lawyer, I really wonder how he made SAN, some would suggest he bought it.

Look, ribadu is a bloody lair
Didn't tinubu give him bags of money which I was there myself
How can he be lying like this
Before I liked him but now,
Lair