Obasanjo’s Greatest Mistake Is Not Jailing Buhari For Looting PTF – Kayode

Hamilton Nwosa
Writer
new-diplomat default image
new-diplomat default image

Ad

Cuts to US oil jobs and spending threaten output growth

The U.S. oil industry has laid off thousands of workers and cut billions in spending due to lower oil prices and the biggest consolidation in a generation, in what could mark the end of the rapid output growth that made the U.S. the world's top producer. The Organization of the Petroleum Exporting Countries and its…

‘Godfather of AI’ says the technology will create massive unemployment and send profits soaring — ‘that is the capitalist system’

Pioneering computer scientist Geoffrey Hinton, whose work has earned him a Nobel Prize and the moniker “godfather of AI,” said artificial intelligence will spark a surge in unemployment and profits. In a wide-ranging interview with the Financial Times, the former Google scientist cleared the air about why he left the tech giant, raised alarms on potential threats from AI,…

News Corp Announces Resolution of Murdoch Family Trust Matter

News Corporation ("News Corp" or the "Company") (NASDAQ: NWS, NWSA; ASX: NWS, NWSLV) today announced that the trustee and beneficiaries of the Murdoch Family Trust ("MFT") informed the Company that they have reached a mutual resolution of the legal proceedings in Nevada related to the MFT, resulting in the termination of all litigation. New trusts…

Ad

A former Minister of Aviation, Mr. Femi Fani-Kayode, says the “greatest mistake” of former President Olusegun Obasanjo is his failure to prosecute and jail President Muhammadu Buhari for “looting the Petroleum Trust Fund” under his supervision.

Fani-Kayode, who is under investigation for an alleged fraud of N4.9bn as the Director of Publicity of ex-President Goodluck Jonathan’s 2015 presidential campaign organization, made the statement on Facebook on Wednesday.

“The greatest mistake that President Obasanjo made was not to prosecute and jail President Buhari for looting PTF funds,” he said.

“I saw the report and it was shocking. Billions of dollars had vanished. Obasanjo summoned him and showed him the damning report. Buhari begged like a baby. Sadly Obasanjo let him off the hook.”

Buhari was appointed by late General Sani Abacha to head the Petroleum (Special) Trust Fund (PTF), in 1994.

Obasanjo later disbanded PTF in 1999, when he assumed office as President of the country.

A national committee was later set up to investigate allegation of mismanagement of the funds. The committee, however, advised Ex-president Obasanjo to set up a judicial panel to recover about N25 billion that was reportedly mismanaged, but no action was taken about the recommendation.

 

Ad

Unlocking Opportunities in the Gulf of Guinea during UNGA80
X whatsapp