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  EFCC gets zero Credit For Catching Fraudsters

  showpopulous 3:06 am on August 17, 2009 | 0 Permalink | Reply
  

  So EFCC goes out to Suru Alaba and nabs these ATM fraudsters. These guys have actually caused bankers to lose hundreds of millions of naira and they all deserve to be put away. Thank God the kingpins are in hot soup but no thanks to the EFCC. If you care to read the entire story, you can find it here: http://www.ngmix.net/forum/viewforum.php?f=2

  As I followed this story on nairaland, I realized that Nigerians are not as stupid as everyone think. People have refused to be moved with this accomplishment. Instead, people are asking the EFCC to focus on public office holders just like Ribadu did. Here are some posts from nairaland:

  sweetpain wrote:
  If only Farida Waziri and her EFCC will pay a fraction of the time and money spent chasing petty thieves to going after councillors, commissioners, Governors (retired and serving) ministers, reps and senators and other public servants, Nigeria will be better for it.

  These are soft convenient targets  of the EFCC that are inconsequential to the big picture. Not impressed.

  Personally, I’m not very impressed either. I believe Nuhu Ribadu was doing a perfect job and I would love to see him come back to head the EFCC, in fact, the entire police force. If madam Waziri wants credit, let her arrest and convict top public office holders.

  Anyway sha, not to be biased, some people still give credit to the EFCC and they are happy to hear this news. Here is Dominic tj from  nairaland:

  Ha, at last we can heave a sigh of relief, I nearlly fell to their antics. Kudos to EFCC on this one, keep it up

  Well, whatever your position is, I thank you for reading and I hope you can tell Mr. President to bring back Nuhu Ribadu.

  Showpopulous

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  Nigerians: Why Are We So Mentally Divided?

  showpopulous 7:05 am on August 12, 2009 | 1 Permalink | Reply
  

  While following the post “AGAINI!!! YarAdua for Medical Check-up in Saudi Arabia”, I read Ikenna’s comment and I was very disappointed by his ignorance. Maybe he’s not ignorant. Maybe somebody needs to point out some facts to me. Here is ikennaep@yahoo.co.uk:

  Kola,
  I have never trusted any Yoruba man. To join you and do what? And tomorrow you back out! What did Yoruba elders do after MEND bombed Atlas Cove? Did they not rush to Ya’rdua to solidarise with him?

  Ikenna

  Here is my question: Is it really true that a Yoruba man is not as trustworthy as an Ibo man?

  For those that are still harboring such mentalities, It’s like saying that the black man is not as intelligent as the white man. A person’s behavior is shaped by his upbringing not color, not ethnicity and sometimes it’s not hereditary. Two blood brothers can choose two different paths in life. Do you remember former president Clinton? His brother is a low-life, club rocking musician. Can you compare Fela and his brother?

  If it is really true that there is an ethnic group that is trustworthy, why is it that all the leaders are collectively corrupt? Out of all the public office holders, you will find a member of every ethnic group and, so far, we have not been able to group their performance by ethnicity. They all strive to benefit from their positions.

  This is a modern age and I am begging all youth to dispose the philosophy of ethnic barricades. Trust a person because you think the person is trustworthy not because of his tribe.

  Remember that it is us against them (the old deep pocket, pot belly politicians). If we don’t come together, we can never fight them. WE NEED EACH OTHER TO FIGHT THEM or we will remain like this forever.

  Please think,
  Showpopulous

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  Raymond Dokpesi And The Nigerian Stock Exchange Scam

  showpopulous 6:47 am on August 2, 2009 | 0 Permalink | Reply
  

  

  Raymond Dokpesi

  Chief Raymond Dokpesi, Chairman of DAAR Communications, owner of AIT has decided to make some fast money. A quick N4 Billion was not a bad idea using the easy Nigerian Stock Exchange scam. Why not? It’s very easy: just list your company on the exchange, ask people to give you their money, collect the money and give them lots of paperwork. Then you walk away - simple!

  Guys, I’m not making this up. You can read the entire story here http://www.ngmix.net/forum/viewforum.php?f=2

  If we really think about it, should we really be blaming Dokpesi for taking this money? I’m sorry but I don’t blame him. How long have I been telling people not to put their money in the Nigerian Stock Exchange? The facts are there and they are very simple: The capital market needs a transparent system to function properly. The Nigerian system lacks transparency. It can not work, simple as that. It is the greed in this ordinary investors that pushes them to donate their money.

  “Dokpesi personally smiled to the bank with about N4 billion naira, leaving the DAAR Group with the balance,” complained one of the shareholders.

  What a foolish complainant? In the first place, you know that you have no protection. What kind of investor puts his money in a market where his interest is not protected by anyone? If the CEO of the company cooks the paperwork and walks away with your money, which law enforcement agency will you call to help you? Who scrutinizes these companies to make sure that their paperwork conforms to some set of standards. I know all these questions are answered on paper. They are just never enforced.

  Another investment expert told us: “It’s an anomaly that Dokpesi’s company continues to operate as a private concern despite going public.” He blamed this on “weak regulatory oversight as well as corruption” in the ranks of the Nigerian Stock Exchange Commission. He said the Nigerian atmosphere “has enabled Chief Dokpesi to maintain a culture of impunity and financial recklessness within the DAAR group.”

  The statement above is for those of you who have disagreed with me over the years.
  Are we just finding out that the Nigerian system lacks transparency? No, we already know this.

  So why did these foolish investors donate their money to Chief Raymond? Because they are greedy; they want a money doubler who will miraculously change their N1 to N5.

  Does this mean that all stock markets are bad? No, stock market is only bad wherever the government is corrupt.

  What is going to happen to Dokpesi now? Nothing. Just like the debtors of failed banks in the late 90’s, no one is ever going to question him.

  What do we do now? Stop donating you money.

  Please forward this link to everyone on your address list. SOMEONE YOU CARE ABOUT MAY BE TRYING TO BUY STOCKS RIGHT NOW!!!

  Here is the entire story again: http://www.ngmix.net/forum/viewforum.php?f=2

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