• About
  • Advertise
  • Careers
  • Contact
Wednesday, June 18, 2025
  • Login
No Result
View All Result
NEWSLETTER
Reporters At Large
  • Home
  • News
    • World
    • For The Record
    • Metro
    • Opinion
    • Press Releases
  • Business
    • Auto Trend
  • Politics
  • Tourism
  • Lifestyle
    • People & Events
    • Health
  • RAL TV
    • Video
    • Video News
  • More
    • Advertisement
    • Privacy
    • Disclaimer
    • Contact Us
  • Home
  • News
    • World
    • For The Record
    • Metro
    • Opinion
    • Press Releases
  • Business
    • Auto Trend
  • Politics
  • Tourism
  • Lifestyle
    • People & Events
    • Health
  • RAL TV
    • Video
    • Video News
  • More
    • Advertisement
    • Privacy
    • Disclaimer
    • Contact Us
No Result
View All Result
Reporters At Large
No Result
View All Result
Home Featured

Sovereign Wealth Fund: More Lies From The Presidency At Ramadan – Reno Omokri

by ReportersAtLarge
June 1, 2018
in Featured, News
Reading Time: 2 mins read
0
Reno Omokri

Reno Omokri

Share on WhatsappShare on FacebookShare on TwitterShare on Linkedin

AIDE to the former President Goodluck Jonathan, Reno Omokri, has alleged the President Muhammadu Buhari-led administration of “more lies during Ramadan.”

ADVERTISEMENT

Omokri made allegation in a post on his Facebook account, saying “To my dismay, I woke up on Friday the 1st of June 2018 to find out that President Buhari, who is meant to be on a Ramadan fast, had released a statement, through the Presidency’s Twitter handle, alleging that the Jonathan government, which created the Sovereign Wealth Fund in 2012, had failed to save money in the fund after the initial $1 billion deposit it made into it.

“Such a lie, coming at a time when the President is meant to be fasting is shocking!

ADVERTISEMENT

“The truth is that after starting up the Sovereign Wealth Fund with an initial deposit of $1 billion in 2011, the Nigerian Governors Forum, led by Rotimi Amaechi and supported by other Governors who later joined the APC, took the Jonathan administration to court to declare the Sovereign Wealth Fund illegal and assert their claim that the Jonathan led Federal Government could not force them to save.

“In fact, Mr, Rotimi Amaechi released a statement justifying his opposition to the Sovereign Wealth Fund on August 31, 2011 and said:

RelatedPosts

When Dry Bones Rise: Story Of Baba Pensioner In My Neighbourhood

Tragedy! Police Inspector Shot Dead By 10-Year-Old Son In Anambra

Nigeria, 35 Other Countries Face Potential US Visa Ban [Full List]

“The SWF is an attempt to desecrate section 162 of Nigeria’s Constitution.
Section 162(1), (2) and (10) of the 1999 Constitution prescribed the mode of sharing the revenue of the Federation.
It states that “the Federation shall maintain a special account to be called the Federation Account into which shall be paid all revenues collected by the Government of the Federation, except the proceeds from the personal income tax of the personnel of the Armed Forces of the Federation, the Nigeria Police Force, the Ministry or department of government charged with responsibility for Foreign Affairs and the residents of the Federal Capital Territory, Abuja. The law says that anything that is outside the constitution is wrong and section 162 of the constitution also says so.”

“Many attempts by the Jonathan administration to settle the matter out of court were rebuffed by Mr. Amaechi and his colleagues who had a hidden agenda to frustrate the plans by the Jonathan administration to save for a rainy day.

“Working in tandem with Mr. Amaechi and his supporters in the Nigerian Governors Forum, the then minority APC members of the House of Representatives also filed another suit at a Federal High Court on the 7th of February, 2014, seeking a perpetual injunction restraining the Jonathan administration from operating the Excess Crude Account, from which they intended to source for money to fund the Sovereign Wealth Fund, and to pay all the proceeds of that account into the Federation Account for sharing amongst the three tiers of government.

“As a result of these actions, the Jonathan administration paid the 36 states of the federation a total of N2.92 trillion from the Excess Crude Account between 2011 and 2014. Using the value of the Naira at that time that amount was just above $20 billion dollars.

“It therefore amounts to historical revision for the Presidency to make these spurious allegations against the Jonathan administration,

“President Muhammadu Buhari should be aware that just like I told him, after the many lies from his Democracy Day Speech, Ramadan fast does not just mean abstaining from food, it also means abstaining from lies.”

Tags: apcGoodluck JonathanMuhammadu BuhariPDPRamadanReno Omokri
SendShareTweetShare
ReportersAtLarge

ReportersAtLarge

Reporters At Large is the world’s fastest-growing online news platform and public service broadcaster. We’re impartial and independent, and every day we create distinctive, world-class programmes and content which inform, educate and entertain millions of people in Nigeria and around the world.

More

Seyi Makinde
Opinion

When Dry Bones Rise: Story Of Baba Pensioner In My Neighbourhood

by ReportersAtLarge
June 18, 2025
0

About two weeks ago, I sat in a group of about six to seven people and an aged citizen approached...

Read moreDetails
Nigeria Police Force
Metro

Tragedy! Police Inspector Shot Dead By 10-Year-Old Son In Anambra

by ReportersAtLarge
June 16, 2025
0

A tragic incident occurred in Awka, the Anambra State capital, on Sunday, when a 10-year-old boy accidentally shot and killed...

Read moreDetails
Donald Trump
WorldNews

Nigeria, 35 Other Countries Face Potential US Visa Ban [Full List]

by ReportersAtLarge
June 15, 2025
0

United States President Donald Trump is considering imposing a visa ban on Nigeria and several other countries, mostly from Africa....

Read moreDetails
Load More

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Recommended

President Muhammadu Buhari

Avengers Are Within Your Government, IYC Tells Buhari

9 years ago
Buhari and Fuel Price Hike in Nigeria

Nigeria May Be Worse Off As Russia-Ukraine War Escalates Global Oil Prices

3 years ago

Popular News

  • JUST IN: Former Vice President Namadi Sambo Dumps PDP For APC

    0 shares
    Share 0 Tweet 0
  • When Dry Bones Rise: Story Of Baba Pensioner In My Neighbourhood

    0 shares
    Share 0 Tweet 0
  • Brazilians Ifa Adherent Delegation Visit Ekiti State Bureau Of Tourism

    0 shares
    Share 0 Tweet 0
  • Petrol Scarcity Looms As Tanker Operators Protest N12,500 Levy

    0 shares
    Share 0 Tweet 0
  • Tragedy! Police Inspector Shot Dead By 10-Year-Old Son In Anambra

    0 shares
    Share 0 Tweet 0

Connect with us

About Us

Reporters At Large is the world’s fastest-growing online news platform and public service broadcaster. We’re impartial and independent, and every day we create distinctive, world-class programmes and content which inform, educate and entertain millions of people in Nigeria and around the world.

With a high level of professionalism, fairness, objectivity, accuracy and speed, we publish Breaking News Nigeria Today Headlines and International news on Politics, Tourism and Travel, Entertainment, Sports, Business Lifestyle and Sports.

Category

  • Auto Trend
  • Breaking Bones
  • Business
  • Columns
  • Entertainment
  • Featured
  • For The Record
  • Health
  • Innovation
  • Lifestyle
  • Metro
  • News
  • Opinion
  • People & Events
  • Politics
  • Press Releases
  • Science & Technology
  • Sponsored
  • Sport
  • Tourism & Culture
  • Video
  • Video News
  • WorldNews

Recent Posts

  • JUST IN: Former Vice President Namadi Sambo Dumps PDP For APC June 18, 2025
  • When Dry Bones Rise: Story Of Baba Pensioner In My Neighbourhood June 18, 2025
  • Brazilians Ifa Adherent Delegation Visit Ekiti State Bureau Of Tourism June 17, 2025
  • Petrol Scarcity Looms As Tanker Operators Protest N12,500 Levy June 17, 2025
  • Makinde Is A Promise Keeper, Says Akintola, Ex-APC Guber Aspirant June 16, 2025
June 2018
SMTWTFS
 12
3456789
10111213141516
17181920212223
24252627282930
« May   Jul »
  • Home
  • News
  • Business
  • Politics
  • Tourism
  • Lifestyle
  • RAL TV
  • More

© 2016-2024 RAL - Guided by professionalism

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • Home
  • News
    • World
    • For The Record
    • Metro
    • Opinion
    • Press Releases
  • Business
    • Auto Trend
  • Politics
  • Tourism
  • Lifestyle
    • People & Events
    • Health
  • RAL TV
    • Video
    • Video News
  • More
    • Advertisement
    • Privacy
    • Disclaimer
    • Contact Us

© 2016-2024 RAL - Guided by professionalism

Verified by MonsterInsights