Search Site: OnlineNigeria

Close






Transcorp: Obasanjo should be impeached – Gani

Posted by By ADESINA AIYEKOTI on 2006/09/19 | Views: 1191 |

Transcorp: Obasanjo should be impeached – Gani


Social crusader and human rights activist, Chief Gani Fawehinmi (SAN) on Sunday pleaded with the National Assembly to commence the process of removing President Olusegun Obasanjo from office over his alleged involvement in Transnational Corporation of Nigeria Plc (Transcorp), which he said breached the constitution.

Social crusader and human rights activist, Chief Gani Fawehinmi (SAN) on Sunday pleaded with the National Assembly to commence the process of removing President Olusegun Obasanjo from office over his alleged involvement in Transnational Corporation of Nigeria Plc (Transcorp), which he said breached the constitution.

He anchored his request on emerging facts that President Obasanjo substantially owned Transcorp.
Chief Fawehinmi also implored the federal lawmakers to pass a resolution declaring Transcorp, as an unconstitutional commercial organisation.

In addition he implored the Economic and Financial Crimes Commission (EFCC) to invoke its powers, under sections 7, 29 and 34 of the EFCC Act, 2004 to confiscate all assets and property acquired by the company.
Chief Fawehinmi argued that the nation must not allow the president to benefit from “his corrupt acts, abuse of power, disregard of the constitutional provisions, including gross violations of the Code of Conduct” in total violation of his oath of office.

According to Chief Fawehinmi, “with the mind boggling revelations in the last two weeks on how public funds have been diverted into private hands and with the president violating the constitution by his part-ownership of Transcorp through his Obasanjo Holdings Limited, the nation has been engulfed in a cloud of despondency, shock and fear for tomorrow.”

Fawehinmi submitted that it was evident that Obasanjo granted Transcorp a lot of mouth-watering concessions to Transcorp in its creation, operation and sale of “government-owned companies to it, principally because of his interests in the mega firm,” stressing that this amounted to gross constitutional abuse.

He itemised these perks to include: license to build a 400,000 barrels per day oil refinery, license to build an independent power plant, access to the Federal Government cassava report for the construction of cassava processing exports facility, designated land mass for the construction of free port facilities, and creating additional opportunities to develop large scale projects in oil and gas, power and information and communications technology (ICT).

Besides this, the corporation has acquired: four oil blocks, allocated to it on July 21, 2005 when it was launched; Nicon-Hilton, Abuja, in October, 2005 for $105 million dollars and NITEL on July 3, 2006 for $750 million dollars,” he said.

Although he noted that Elder Daniel Atsu and Lucky Egede (trustees of Obasanjo Holdings Limited) said the admission by the trustees that the Transcorp shares were bought by Obasanjo Holdings Limited and that its business activities should be separated from the person of President Obasanjo the admission by the trustees, the lawyer declared that compounds the constitutional illegality of the president’s involvement in Transcorp.

“At the time Transcorp was formed and four (4) oil blocks allocated to it with attendant licences, the President, General Olusegun Obasanjo was the Minister of Petroleum Resources, a position he held from May 29, 1999.

“Consequently, for the president to allocate oil fields or blocks as the Minister for Petroleum Resources to Transcorp in which he has substantial shares, is clearly an abuse of office under Section 15 (5) of the constitution of the Federal Republic of Nigeria, 1999 which provides that: “the state shall abolish all corrupt practices and abuse of power.”

Read Full Story Here.... :
Leave Comment Here :



Add Comment

* Required information
1000
Captcha Image

Comments (1)

Gravatar
New
Fay(Katy, Texas, US)says...

Actually translates to bravehearted.