How Reps shared N10bn loan - Dimeji Bankole | Welcome to Linda Ikeji's Blog





Monday, 6 June 2011

How Reps shared N10bn loan - Dimeji Bankole

The former Speaker of the House of Representatives, Mr. Dimeji Bankole, has opened up on how lawmakers shared the N10bn loan the House took from a commercial bank.

Bankole named the former Majority Leader of the House, Mr. Tunde Akogun; the Deputy Leader, Mr. Baba-Shehu-Agaie; and the former Chief Whip, Mr. Emeka Ihedioha, as the major beneficiaries of the loan.

He also listed the former Deputy Whip and contestant for the position of speaker, Mr. Aminu Waziri-Tambuwal; and former Minority Whip, Mr. Femi Gbajabiamila (before he became the Minority Leader), as among the beneficiaries.

The former speaker, who made the revelations in a statement by his media aide, Mr. Idowu Bakare, in Abuja on Sunday, denied benefiting from the N10bn.

He also claimed that his former deputy, Alhaji Usman Nafada, did not benefit from the loan.

According to the former speaker, the House took the loan following a decision by all lawmakers to increase their quarterly allowances (running costs).

He said that the decision to take the loan was reached at a closed-door meeting held on March 30, 2010.

“The report was approved by the House in executive Session of March 30 2010”, the statement added.

Bankole claimed that contrary to insinuations that he and Nafada benefited from the loan, only other principal officers and members shared the money.

He insisted that before the increment in quarterly allocation, which necessitated the taking of the loan, he received N100m per quarter while Nafada collected N80m.

Bankole added that after the increment, the two presiding officers continued to receive the old rate.

However, he revealed that from N46m, Akogun’s allowance was jacked up to N60m, a difference of N14m.

Agaie now took home N57m, up from N43m, a difference of N14m.

Similarly, he said that Ihedioha’s was raised to N55m from N41m, with a difference of N14m, while Waziri-Tambuwal got N54.5m as against the old rate of N40.5m.

Gbajabiamila, who was receiving N36m per quarter, had his own jacked up to N50m.

The former speaker stated that other members, who hitherto received N28m each per quarter, raised theirs to N42m each.

By this new sharing formula, the six former principal officers were said to be sharing N456.5m every three months since March 30, 2010.

The document explains further, “Before the increment, quarterly allowance to the Office of the Speaker was N100m while his deputy received N80m.

Source: Punch


Anonymous said...

. . and the fat lady sings!

2 4real said...

may almighty God save our dear country from the hands of public fund looters like this can u imagine 10billion? Heard 40million naira of the money was traced into ini edo's account? Hmmmmmmm actresses and politicians SMH may God have mercy.

innocent said...

And they keep insisting I pay my tax so that they will continue sharing our money.God punish every one of the so called law makers that are eating our money.456.5 in three months,God strike them all down.Their death will be so painful they will regret the day they were born.

Anonymous said...

Lord have mercy !
Nigeria, evil men shall never rule you again!!! May our rulers receive the spirit servanthood. No good roads, no jobs, no proper medicare, no security, no regular power & water supply and these vogues were busy looting the nation. I weep for Nigeria oh !
if I may ask,what do they do with all the looted money. Endless trips to Western world, women, cars ..... ha ! I groan for my nation.

Watermark said...

Hei!!! May God help us

Anonymous said...

What a bad way to leave office.

Anonymous said...

Pls tell me why they should be paid that amount per quarter. If so, then how much are the senate paid, the ministers and then some. I am so livid and they do need to justify why they are paid so much. I suggest that all of them that agreed on the loan and were paid those millions per quarter should be questioned by the EFCC. To say, I am LIVID is an understatement.

Anonymous said...

Ifunnaya will be very happy were ever she is right now...say God don catch am...Onpe!!!
From Me Oju ole re ole!

deeflamez said...

Mehn!!! Now dats wat i kal SCAM-IN-HIGH PLACES...smh for dis guy

Fanstuff said...

Naming and shaming how he shared the National Cake! As he goes down, he takes others down with him......

Igwe Osita One said...

Lets put sentiments aside for a minute and ask if the monies collected were fraudulent or not.....if not, release the man jare....the system approves of this anomalies....

Pjobaby said...

Hmmm... Will Nigeria be great again??? Anyway, I have made up my mind not to waste my time voting or praying for this country that some greedy s**k f**ks rule!!!

SirTalk said...

This don't mean shit. If is guilty, he gets 6 months jail term. What difference does that make. KMT


Holy Christ of Umu Abia! this is outrageous and ridiculous, sounds like am dreaming though, ...I hope it's not true!

Anonymous said...

Lord, Help my country. We need you Lord, the masses are suffering while the selfish and greedy politicians they vote in to help change their lives are robbing them of what they deserve.

raly said...


Anonymous said...

It doesn't matter that they arrested him, what matters most is what he is charged and tried for. Let this NOT be a repeat of Lucky Igbinedion or Cecilia Ibru. Arrest, charge, try and convict these thieves.

On the other hand, the devil on my shoulder is saying "walahi I must enter this government thing, ogini!" said...

All the lawmakers decided to increase their quarterly allowances (admistrative costs), and they took out a LOAN and gave themselves a raise!

Let's just say you are working for a corporation or running you own business and you woke up one morning, then decided to give yourself a raise! Instead of putting your decisions through to the Fed Govt. for approval or taking money out of the profit you made, you decided to take out a LOAN from a BANK to increase your allowance/pay!!!

Seriously, how many of you can walk into a bank and ask to be giving a LOAN just because you decided to give yourself a pay raise? How stupid can that be!

These IDIOTs are not only stealing from Nigerians but are blatantly stealing with Nigeria's name!

1. Now who is going to payback the bank loan?

2. Why would lawmakers be deciding to increase their own allowance/pay?

3. What have they done or achieved to warrant an increase in their allowance/pay?

4. Is the bank MD's in cohort with this LOAN scam? What was giving as a collateral for the Bank to approve this loan?

These criminals Bankole et al just need to rounded up, tied in a stake and SHOT as an example to other politicians. And their bodies dragged through the streets of Lagos or Abuja!!!

I know most of you share my sentiment, but in Nigeria today, that is just wishful thinking. These criminal politicians will be giving a slap in the wrist and EFCC will NOT do a thing!

Nigeria has been suckered again for a N10bn loan. Everyone in the Nigerian govt. from top down, starting with GEJ all the way down to state govt. lawmakers are CRIMINALS!!!

I'm patiently waiting for the day when Nigerians will wake up one morning and say we have had enough!
We, Nigerians just need to take ACTION like the ordinary people of Libya, Egypt, Yemen, and the rest of the Middle East and start taking back our govt & country from these criminal politicians!

Enough is Enough!!!

Anonymous said...

"He insisted that before the increment in quarterly allocation, which necessitated the taking of the loan, he received N100m per quarter while Nafada collected N80m."

Please vote me in to become the next speaker of house o N400m per year for allowance who needs a salary.

Only in Nijja. the thing is after all the allowance they claim they probably still accept bribes.

Anonymous said...

How is the N100m quarterly allowance spent:

Wife: N10million
Mistresses: N20million
Kids and extended family: N10million
Savings for rainy days: N50million
House expenses: N5 million
Holidays: N5 million

Tax: zero

Dr. Chinedu DDS said...

Chineke God! of Amadioha Orlu!!!, May God help us in that country!

Anonymous said...

Wow! Why do they even earn this much?!

victory said...

Ques: What do u call 2 bank robbers in yoruba-pigin?Ans: The-meji-bank-ole.....LAUGH DON TEAR MY BRA

Anonymous said...

hmmm.. im just short of words... Na one by one God go catch dem young.. no longer until they grow old.. i say whoever say make nigeria water no boil na him own no go hot in jesus name... Amin... Olee ole ole ole.. oleeee oooleeeeeee..... This people are heartless. but sha God dey!!

Anonymous said...

you are all complaining now dat they are stealing money.
How many of you will get dere and will not even do worse. It so easy to cast stone at others abi?
Some of you are cheating or stealing from your boss, your friends, parents and etc.
Rember dat dese legislators also started small small like all of you till dey got to the house of Rep and began to steal millions.

I am not supporting them o neither am i calling mysef a saint.
But i would encourage us all dat we shud av the fear of GOD in us all. Cos wen the fear of GOD resides in us, we can easily say no greed and care for each oda.

So please, insted of casting stones at the house of Rep, check yoursef well and ask GOD to put HIS fear in you.

Meanwhile, lets pray for the present leaders to rule us in the fear of GOD.


JP said...

Abeeegi! u guys should stop shedding crocodile tears. Didn't y'all gullibly vote these legislooters into power? This is just the tip of the iceberg, y'all aint seen nothing yet.

sakara said...

this same Aminu that has emerged speaker today? Nigeria is in trouble from one thief to sure this one wl clear N50billion before end of his tenure and surely Bank-ole wl walk away as a free man very soon...naija factor

Anonymous said...

We will continue to pray for Nigeria.I used to be so upset about the goings-on in this country and didn't just believe that there can ever be any remedy but my pastor thought me different.As long as God is in control,we will all come together and help make that change.I believe the change has even already started.I believe it's not even Jonathan in control but God almighty and he will not let any of his creation go to may take a little bit of time but we will surely get there.we can see what has been happening in the other African countries.our youth has finally woken up and said no to outrageous corrupt people let's be positive and continue to invest our prayers. The only painful bit for me is how difficult it was for them to approve common 18k minimum wage for the poor masses meanwhile bankole and his cohorts were taking home a hundred million every 3 months for doing what I ask bike?..but no need to break my head,like I said God is in control....

Ade_Cool said...

Exactly..New Speaker is also a THIEF!!..Business As Usual..and Bankole would soon be set per the norm!!...just the other day the other ex speaker Etteh was acquitted of being involved in N655 Million what's new playa!!
Igbinedion..was also acquited..wasn't he frolicking with GEJ in Abuja very recently..

Only a revolution can save us..Egyptian style..not GEJ!!..dude's all hot air..

Anonymous said...

People here seem to be missing something here- a revolution has happened- Dimeji Bankole has been arrested and the story is even on BBC World Africa section- that to me is a real revolution- in the past, such a thing would have been hidden and the perpetrator(s) would have got off scotch free! I have confidence that justice will prevail this time and Bankole and his friends who are guilty of defrauding the nation of N10 b will be jailed for their action. Waziri is not about to let a big fish off this time around. Welcome to the new Nigeria!

Anonymous said...

Haba! Can someone tell me if dere is still hope in dis country of ours, mainwhile, 18,000 minimum wage took dem almost enternity to pass d bill into law. may what happened to Ghana past leaders be dier portion in JN!

Kemiismyrealname said...

And people wanted to crucify Sanusi when he complained about these people.

Anonymous said...

Please correct me if am wrong, but are the Northerns not guilty of any corruption offences, am sure there are more corrupt people in the north, but Mrs Farida only seem to come after Southerners. I am not in any way condoning what this people have done, but it always seem to me that some parts of the contry are more targeted.
Farid Waziri must go with the new government time to elect a southerner for a change into that post. There are bigger thieves in the North, Bankole has named the newly elected House speaker, Farida get off your arse and go after your own people. There is far more poverty in the north, so its obvious there is more looting up there.

Anonymous said...

see e mouth like 10 billion sef, ole bastard, dem suppose put tyre for your neck

Ade_Cool said...

@Anon 11.33PM
I couldn't agree more everything in this country always has a tribalistic angle to come only Southerners and Westerners actually do time and get put out on major blast??
The Northerners come in..get interrogated and that's the last we hear of it..
Not condoning Bankole's recklessness but you can't help but wonder!!

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