ZION B-BC
NEWSLETTER.
A Publication of the Zion Faith Bible-Believing Church Kpeyegyi Abuja Nigeria. {Vol. 12. NO 534. 5th October 2023.} “…ONLY The Truth, Will Set You Free! (John.8:32). PRAY & FAST EVERY WEDNESDAY TO STOP BLOODSHED IN NIGERIA!
TINUBU'S NGN2.17 TRILLION SUPPLEMENTARY BUDGET IS BIGGER FRAUD THAN P&ID'S $6.6 BILLION ROBBERY!
Nigeria would have paid a whopping sum of USD$6.6 billion plus interest to a foreign company known and addressed as Process and Industrial Developments (P&ID), which was in August 2019 granted leave by the UK Business and Property Courts to enforce a 2013 award against Nigeria by three-member Arbitration Tribunal which relied on the Application Act 1996 (England and Wales) and the Nigerian Arbitration and Conciliation Act 2004!
However, it has now been fully exposed by the British Court that the P&ID failed gas deal was a voodoo contract perfected through bribes to Nigerian enemies of state employed in the civil service of the Federal Republic of Nigeria.
In our Zion B-BC Newsletter Vol.8, 320th Edition dated 29th September 2019, and titled, "Nigerians Had Suffered International Condemnation Through Perpetual Bad Leadership!", We mentioned similar dubious foreign contracts bribery scandals especially during the military regime of late General Sani Abacha by a US Based Oil Drilling Company called HALLIBURTON!
But greater emphasis was devoted to the foreign Irish Company P&ID which planned to steal USD$9.6billion dollars by hook and crook from Nigeria!
Please find below excerpts from that publication which are very instructive to the favourable judgment of Monday 30thOctober 2023:
"WHAT HAPPENED BETWEEN 2010 AND 2019?
The 2010 controversial contract was awarded to the Irish Portfolio Investment Company, incorporated in the British Virgin Island, by the Peoples Democratic Party (PDP), Administration headed by President Ebele Jonathan, and from all narratives, the contract was shrouded in much secrecy within the Nigerian National Petroleum Corporation (NNPC), Towers where it was signed, sealed and delivered without the approval of the Federal Executive Council (FEC)!
Although the Change Administration of APC under the watch of President Muhammadu Buhari, took over governance in 2015, not much of the said botched contract and judgement in favour of P&ID was revealed in the public domain until now!
WHO INTRODUCED P&ID TO NIGERIA? Investigations are still on to unravel how the foreigners infiltrated Nigeria's economic space!
WHO ARE THEIR NIGERIAN PARTNERS & BOARD MEMBERS? None!
WHERE IS THEIR HEAD OFFICE LOCATION AND BRANCH OUTLETS IN NIGERIA? General T. Y. Danjuma's Offices in Taraba & Abuja?
WHAT WAS THEIR STAFF STRENGTH IN NIGERIA IN 2010? No staff outside Messrs.Michael Quinn & Brendan Cahill, who allegedly stole the Gas Contract IDEA from retired General T. Y. Danjuma!
DOES P&ID POSSESS ANY TRACK RECORD IN PROCESS/DEVELOPMENT?"
CNN REPORT
Nigeria’s government is celebrating a “landmark victory” after a UK court ruled it was not liable for a multibillion-dollar payout earlier awarded to a private firm over a failed gas project.
The West African nation was previously ordered by an arbitration tribunal in 2017 to pay $6.6 billion, plus interest in damages to a British Virgin Islands-based engineering firm, Process and Industrial Developments Limited (P&ID).
The company had sued for compensation over lost profits following the collapse of a 20-year deal with Nigerian authorities in 2010 to build a gas processing facility.
The awarded sum and accumulated interest had now exceeded $11 billion, nearly half of Nigeria’s federal budget for this year.
If upheld by the London court, the tribunal’s $11 billion payout to P&ID would have taken a devastating toll on Nigeria’s already struggling economy, which owes billions of dollars in debt and grapples with high inflation and a cost-of-living crisis.
What went wrong?
Disagreements after both parties blamed each other for defaulting on obligations led to the failed deal and sparked a lengthy legal battle.
Lawyers for the Nigerian government had argued that P&ID induced the country’s officials with bribes for the contract to be awarded to the firm. P&ID denied this allegation.
Delivering judgment on Monday, Judge Robin Knowles set aside the earlier ruling by the tribunal and concluded that the gas deal was “obtained by fraud” and “procured … contrary to public policy.”
Knowles added: “This case has also, sadly, brought together a combination of examples of what some individuals will do for money. Driven by greed and prepared to use corruption; giving no thought to what their enrichment would mean in terms of harm for others.”
Nigeria’s Attorney General Lateef Fagbemi told state media after the ruling that the deal with the P&ID did not follow due process.
“The purported agreement by P&ID was conceived, nurtured, and executed purportedly in fraud,” he said, adding that the Nigerian government had been under pressure to reach a settlement prior to Monday’s ruling.
“There was so much pressure to settle … but the president insisted he was not going to allow corruption any place in his administration … and his insistence on this has proven him right.”
Nigeria’s President Bola Tinubu welcomed Knowles’ ruling, describing it as a “landmark victory” that “is not for Nigeria alone” but “for our long exploited continent and for the developing world at large, which has for too long been on the receiving end of unjust economic malpractice and overt exploitation.”
TOTAL 2023 BUDGET IS NOW NGN5.268 TRILLION + NGN2.17 TRILLION = NGN7.285 TRILLION SOURCED THROUGH EXTERNAL BORROWED FUNDS!
Tinubu plans to disburse the already approved supplementary budget in the following scandalous manner:
1. NGN13.5 billion naira for renovation of the Aso Villa.
2.NGN7.3 billion naira on cars for the State House.
3. NGN57.6 billion naira for foreign Sports Utility Vehicles (SUVs), for the National Assembly Lawmakers.
4. NGN 12.7 billion for the presidential air fleet.
5. NGN 5 billion naira for a presidential yatch.
6. The Nigerian Navy will also receive additional NGN 62.8 billion four operations outside of the five billion naira for the purchase of the presidential yatch!
7. NGN 1.5 billion for purchase of vehicles for the office of the First Lady.
PEANUTS FOR EDUCATIONAL LOAN FUND!
Although Mr Bola Tinubu has been affirmed as a graduate of the Chicago State University USA, he does not really believe in human capital development which should serve as the greatest foundation for social economic emancipation for the nation's recalcitrant indebtedness!
He has therefore appropriated a paltry sum of NGN5.5 billion naira to the Education Loan Fund under the Students Loan Act but following public outcry appropriation for the YATCH HAS BEEN TRANSFERRED TO THE EDUCATION LOAN FUND!
He however promised that 15 million out of the 133 multi-dimensional poor Nigerians would be beneficiaries of the NGN 1.1 trillion naira Conditional Cash Transfer Scheme which began under the Buhari Administration.
Mr. BAT has recuperated from previous globe trottings and will embark on further foreign journeys to Saudi Arabia to attract more investments!
FOR THE TAXPAYERS INFORMATION!
80% of annual revenue is deployed to DEBT SERVICING - NOT PAYMENT!
In spite of the fact that the presidential system of government is too expensive for a developing nation like Nigeria the politicians have stuck to it because it is through the system that they can live in affluence through institutional corruption!
With the introduction of a Unicameral Parliamentary System of government through REFERENDUM these new set of OUTCASTS must be eliminated permanently from governnance!
[WATCH OUT FOR A NIGERIAN PRIME MINISTER – NOT A PRESIDENT IN 2023!]
Please look forward to more divine revelation in the next edition of Zion B-BC Newsletter as you share this with friends and remain blessed in the Lord. [For weekly access, to this newsletter, log on to: Zion faith Bible Believing church or http://www.zfbbc1.blogspot.com,
Please look forward to divine revelations in The Sure Word Gospel Tracts, Our divinely inspired books on the Amazon KINDLE Store Namely: The Unbroken Chain of Grace, Nigeria’s Pot Pourri (Volumes 1-5), Godly Politicking For World Peace, and The Wedding Mascot Died
If you have not accepted the Lord Jesus Christ as your personal Lord and Saviour, don’t miss this great opportunity as you pray this prayer: Lord Jesus; I confess that I am a sinner who needs to be saved through the grace of the New Testament in your Blood, shed on the Cross at Calvary; I renounce every sin in my life and accept you as my Lord and personal Saviour. Please forgive me and write my name in the Book of Life. Amen. If you prayed this prayer, you have been admitted into the family of sons and daughters of God, who are born-again. Congratulations!
I am, yours sincerely, THE WATCHMAN Dr. David B.A. Olufon, Resident Pastor and Editor. 08130669886, 08080243066. g-mail-dvdolufon@gmail.
No comments:
Post a Comment