Don’t Pretend You Care About National Grid, You, Obasanjo Invested $16 Billion To Procure Darkness For Nigeria | GOVERNMEND

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The House of Representatives had in 2008 described the alleged $16 billion spent on power projects between 1999 and 2007 as “a colossal waste.”

The presidential candidate of the African Action Congress (AAC) and convener of #RevolutionNow, Omoyele Sowore, has berated the former Nigerian Vice President and presidential candidate of the Peoples Democratic Party (PDP), Atiku Abubakar over his reaction to the National Grid collapse.
 
Atiku on Wednesday after it was announced that the National Grid collapsed for the 6th time posted on his verified Twitter page, his displeasure over the repeated collapse of the grid that has continued to throw Nigerians into darkness.

Among other things he said on the thread, Atiku had noted, “I am reliably informed that there was a total National Grid Collapse at precisely 12:23pm today. This is one collapse too many. It is the 6th time this is happening this year alone.”
 
Reacting to Atiku’s tweet, Sowore said, “The National Electrical grid collapse started when you and Obasanjo invested $16 billion to procure darkness for Nigeria, the @MBuhari regime came to gazette grid collapse as a law.
 
“Alhaji @atiku, don’t pretend that you care about the National Grid!”
 

Former President Olusegun Obasanjo has been accused of spending $16 billion on the National Integrated Power Project (NIPP) to increase Nigeria’s power generation to 10,000 megawatts.
 
However, when President Muhammadu Buhari came to power and vowed to probe the alleged $16 billion investment in the national power sector, Obasanjo denied the allegation, describing it as “incorrect information based on ignorance.”
 
The House of Representatives had in 2008 described the alleged $16 billion spent on power projects between 1999 and 2007 as “a colossal waste.”
 
Civil Society groups including SERAP had called for a probe of the funds but in a statement by the Media Aide to the former President, Kehinde Akinyemi, published by the International Centre for Investigative Reporting (ICIR), Obasanjo denied the allegation.
 

He said, “It has come to the attention of Chief Olusegun Obasanjo that a statement credited to President Muhammadu Buhari, apparently without correct information and based on ignorance, suggested that $16 billion was wasted on power projects by “a former President”.

“We believe that the President was re-echoing the unsubstantiated allegation against Chief Obasanjo.”

Source: Sahara Reporters

BF Borgers, an accounting firm owned by former US President Donald Trump, has been accused by the Securities and Exchange Commission (SEC) of engaging in widespread fraud and operating a “sham audit mill.” The SEC alleges that BF Borgers committed “deliberate and systemic failures,” including the fabrication of audit papers and false assurances to clients regarding compliance with accounting standards.

This fraudulent activity, described as “massive,” occurred between January 2021 and June 2023, impacting over 1,500 SEC filings and more than 500 public companies. As a consequence, the SEC has permanently barred BF Borgers from practicing as accountants before the agency and imposed a severe penalty, including a collective fine of $14 million against the firm and its owner, Benjamin Borgers.

In a statement, Gurbir Grewal, director of the SEC’s enforcement division, declared that Borgers and his “sham audit mill” have been permanently shut down. The SEC has notified public companies that engaged BF Borgers to seek new accounting firms.

Trump Media & Technology Group, chaired and majority-owned by Donald Trump, was among BF Borgers’ clients. While Trump Media may be the most high-profile client, BF Borgers served around 350 clients subject to SEC rules during the mentioned period. However, the SEC review only examined BF Borgers’ work for public companies, excluding its services to Trump Media when it was private.

Trump Media, despite its significant valuation on Wall Street exceeding $9 billion, generates limited revenue. Its social media platform, Truth Social, faces challenges, with a notable decline in average daily active US users on iOS and Android in April. Despite this, Donald Trump remains a prominent user on Truth Social.

In response to the SEC’s actions, a spokesperson for Trump Media expressed readiness to collaborate with new auditing partners in compliance with the SEC’s order. BF Borgers did not provide a comment on the allegations.

In summary, BF Borgers, owned by Donald Trump, faces severe consequences following accusations of fraud by the SEC. The firm’s practices, characterized as a “sham audit mill,” have led to permanent suspension and hefty fines. Trump Media, among BF Borgers’ clients, is navigating challenges despite its substantial valuation, particularly with its Truth Social platform experiencing a decline in user engagement.

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