• About
  • Advertise
  • Careers
  • Contact
Thursday, October 8, 2026
  • Login
No Result
View All Result
NEWSLETTER
Reporters At Large
  • Home
  • News
    • World
    • For The Record
    • Metro
    • Opinion
    • Press Releases
  • Business
    • Auto Trend
    • Insurance
  • Politics
  • Tourism
  • Lifestyle
    • People & Events
    • Health
  • RAL TV
    • Video
    • Video News
  • More
    • Advertisement
    • AI Policy & Operational Guideline
    • Privacy
    • Disclaimer
    • Contact Us
  • Home
  • News
    • World
    • For The Record
    • Metro
    • Opinion
    • Press Releases
  • Business
    • Auto Trend
    • Insurance
  • Politics
  • Tourism
  • Lifestyle
    • People & Events
    • Health
  • RAL TV
    • Video
    • Video News
  • More
    • Advertisement
    • AI Policy & Operational Guideline
    • 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.”

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.

ADVERTISEMENT

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

“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

Odidiomo Urges Security Agencies To Investigate Alleged Attacks On Oseni

Titilola-Sodo Hails Security Teams Over Rescued Prospective Corps Members

Career Evaluation: Nigerian Communication Scholar Prof. Olumuyiwa Popoola Earns Global Recognition

“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

News

Odidiomo Urges Security Agencies To Investigate Alleged Attacks On Oseni

by ReportersAtLarge
October 8, 2026
0

Hon. Adedeji Olajide Odidiomo has urged security agencies to investigate a violent attack on Hon. Aderemi Oseni’s campaign train at...

Read moreDetails
Sikiru Bayo Titilola-Sodo on Rescued Prospective Corps Members
News

Titilola-Sodo Hails Security Teams Over Rescued Prospective Corps Members

by ReportersAtLarge
October 8, 2026
0

Security forces have safely rescued 20 prospective corps members kidnapped in Imo State following swift inter-agency co-operation. Action Alliance candidate...

Read moreDetails
Olumuyiwa Popoola Global Recognition
For The Record

Career Evaluation: Nigerian Communication Scholar Prof. Olumuyiwa Popoola Earns Global Recognition

by ReportersAtLarge
October 7, 2026
0

An analytical assessment highlights the career of Prof. Olumuyiwa Popoola, a distinguished Nigerian media scholar bridging professional journalism, international development,...

Read moreDetails
Load More

Leave a Reply Cancel reply

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

Recommended

Osinbajo Summons IGP To Aso Rock Over Southern Kaduna

10 years ago
Sally-Mbanefo

IT Berlin 2017: British Airways To Partner With NTDC

10 years ago

Popular News

  • Olumuyiwa Popoola Global Recognition

    Career Evaluation: Nigerian Communication Scholar Prof. Olumuyiwa Popoola Earns Global Recognition

    0 shares
    Share 0 Tweet 0
  • BREAKING: 20 Kidnapped NYSC Members Freed

    0 shares
    Share 0 Tweet 0
  • BBNaija Season 11 Winner Temi Nkem Claims N160m Grand Prize

    0 shares
    Share 0 Tweet 0
  • APM Rejects Alli’s Attack on Bala Mohammed’s Courtesy Remarks, Cites Campaign Desperation

    0 shares
    Share 0 Tweet 0
  • World Teachers’ Day: Oyo AA Guber Candidate Bayo Titilola-Sodo Pledges Improved Teachers’ Welfare, School Reforms

    0 shares
    Share 0 Tweet 0

Connect with us

ADVERTISEMENT
Reporters At Large Logo

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
  • Insurance
  • Lifestyle
  • Metro
  • News
  • Opinion
  • People & Events
  • Politics
  • Press Releases
  • Science & Technology
  • Sponsored
  • Sport
  • Tourism & Culture
  • Video
  • Video News
  • World News

Recent Posts

  • Odidiomo Urges Security Agencies To Investigate Alleged Attacks On Oseni October 8, 2026
  • Titilola-Sodo Hails Security Teams Over Rescued Prospective Corps Members October 8, 2026
  • Career Evaluation: Nigerian Communication Scholar Prof. Olumuyiwa Popoola Earns Global Recognition October 7, 2026
  • BREAKING: 20 Kidnapped NYSC Members Freed October 7, 2026
  • BBNaija Season 11 Winner Temi Nkem Claims N160m Grand Prize October 6, 2026
October 2026
SMTWTFS
 123
45678910
11121314151617
18192021222324
25262728293031
« Sep    
  • Home
  • News
  • Business
  • Politics
  • Tourism
  • Lifestyle
  • RAL TV
  • More

© 2016-2026 RAL - Boundess Reach, Unwavering Standards!

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
    • Insurance
  • Politics
  • Tourism
  • Lifestyle
    • People & Events
    • Health
  • RAL TV
    • Video
    • Video News
  • More
    • Advertisement
    • AI Policy & Operational Guideline
    • Privacy
    • Disclaimer
    • Contact Us

© 2016-2026 RAL - Boundess Reach, Unwavering Standards!

Verified by MonsterInsights