Remember the over N1.7 Billion Ecological fund declared missing in Nigeria in 2002? Good. There are indications that the money may actually have been taken from the dedicated account on the orders of former President Olusegun Obasanjo.

Pointblanknews.com can now reveal authoritatively that the money was removed by presidential order preparatory to the 2003 general elections.

Confirmed report indicate that the then Accountant General, Mr. Kayode Naiyeju had received a verbal instructions from President Obasanjo who had already concluded with his embattled Vice-President, Atiku Abubakar that their war machines for snatching victory from rival political parties from various state of the federation would need adequate “oiling.”

Naiyeju, therefore, purportedly prepared an executive memo in which he instructed the Director of Banking Operations at the Central Bank of Nigeria, CBN, to transfer the ecological fund to the National Emergency Management Agency, NEMA account in Abuja.

Pointblaknews.com gathered that following the same directives, a total sum of N1.737, 854,589.34 was moved from the Ecological fund at the CBN and paid to NEMA’s account with Habib Bank which has since merged with Platinum Bank to form PHB.

Investigations revealed that one M.M Hanafi had signed on behalf of the Accountant General in the letter dated May 2, 2002 with reference number C/46622/vol.12/DD (Funds).

Source hinted that the huge sums were later removed from the Habib Bank few months later from where it was shared among PDP chieftains for the prosecution of the 2003 elections.

The letter titled: Release From 2% Ecological Problems Fund Account reads: “Please transfer the sum of N1.737, 854,589.34 (One Billion, Seven Hundred and Thirty-Seven Million, Eight Hundred and Fifty-Four Thousand, Five Hundred and Eighty-Nine, Thirty-Four Kobo) to the account of the National Emergency Management Agency (NEMA) with the Habib Nigeria Bank Ltd; Abuja (A/C No. 01305189655) and debit the Ecological Problems Fund Account with the Central Bank of Nigeria, Abuja (Account No. 10002304-52).

Pointblanknews.com learnt that the money would later be put on the table to fund the overwhelming defeat of opposition parties by the ruling people’s Democratic Party, PDP. The lion share of the money was targeted at the South West part of the country where the Alliance for Democracy, AD used to have majority control. The chief strategist of the AD, Minister of Justice and Attorney General of the Federation, chief Bola Ige had just been killed in December of 2001. It was therefore easy for PDP South West foot soldiers, chiefly, late Chief Sunday Afolabi, Otunba Johnson Fasawe and Chief Bode George to make an easy in-road. “They simply flooded the place with money.”

“The money was for everything that could give victory to PDP at all cost.” They achieved their aim while Nigeria’s ecological problems persist till date with massive gully erosion in the East.