How Reps shared N10bn loan — Bankole

Must Read

Nigerian Newspaper Headlines Today: 26th February 2020

Good Morning, welcome to Information Nigeria's Newspaper headlines for today, 26th February 2020.Here are the major headlines.Obaseki Is Training...

UEFA Champions League: Barcelona Records First Leg Advantage Over Napoli

Frenchman, Antoine Griezman saved the night for Barcelona as they were on the verge of losing to Italian side,...

UEFA Champions League: Chelsea Humbled By Bayern Munich At Stamford Bridge

Chelsea were beaten by three goals to nil during their clash with German side, Bayern Munich at Stamford Bridge.The...

NECO Dismisses 19 Workers Over Certificate Forgery

The National Examinations Council (NECO) has dismissed 19 of its workers for forging their certificates.Their dismissal was approved by...

Metuh’s Lawyer Blows Hot, Vows To Appeal ‘Bad Judgement’ (Video)

Following the court ruling that sent Olisa Metuh, the former spokesman to the People's Democratic Party, to a 39-year...
Obanor Chukwuwezam
I am a young person who values time, appreciates relationships and aspires towards success in all my endeavors.

The former Speaker of the House of Representatives, Mr. Dimeji Bankole, has opened up on how lawmakers shared the N10bn loan the House took from a commercial bank.

Bankole named the former Majority Leader of the House, Mr. Tunde Akogun; the Deputy Leader, Mr. Baba-Shehu-Agaie; and the former Chief Whip, Mr. Emeka Ihedioha, as the major beneficiaries of the loan.

He also listed the former Deputy Whip and contestant for the position of speaker, Mr. Aminu Waziri-Tambuwal; and former Minority Whip, Mr. Femi Gbajabiamila (before he became the Minority Leader), as among the beneficiaries.

The former speaker, who made the revelations in a statement by his media aide, Mr. Idowu Bakare, in Abuja on Sunday, denied benefiting from the N10bn.

He also claimed that his former deputy, Alhaji Usman Nafada, did not benefit from the loan.

According to the former speaker, the House took the loan following a decision by all lawmakers to increase their quarterly allowances (running costs).

He said that the decision to take the loan was reached at a closed-door meeting held on March 30, 2010.

“The report was approved by the House in executive Session of March 30 2010”, the statement added.

Bankole claimed that contrary to insinuations that he and Nafada benefited from the loan, only other principal officers and members shared the money.

He insisted that before the increment in quarterly allocation, which necessitated the taking of the loan, he received N100m per quarter while Nafada collected N80m.

Bankole added that after the increment, the two presiding officers continued to receive the old rate.

However, he revealed that from N46m, Akogun’s allowance was jacked up to N60m, a difference of N14m.

Agaie now took home N57m, up from N43m, a difference of N14m.

Similarly, he said that Ihedioha’s was raised to N55m from N41m, with a difference of N14m, while Waziri-Tambuwal got N54.5m as against the old rate of N40.5m.

Gbajabiamila, who was receiving N36m per quarter, had his own jacked up to N50m.

The former speaker stated that other members, who hitherto received N28m each per quarter, raised theirs to N42m each.

By this new sharing formula, the six former principal officers were said to be sharing N456.5m every three months since March 30, 2010.

The document explains further, “Before the increment, quarterly allowance to the Office of the Speaker was N100m while his deputy received N80m.


How can it be that the just past 4th most powerful citizen of Nigeria was involved in corruption of such magnitude? The worst part is that very little action will be taken to recover the money Nigeria has lost through their activities, insignificant disciplinary measures will be taken against Dimeji Bankole and the others and nothing will be done to check such activity in the future.

For God’s sake isn’t  N28m quarterly allowance, a salary of N10.69 million every month and several other benefits (disclosed and undisclosed) enough to take care of a man and his family?

Where is Nigeria headed with all this?

- Advertisement -
Ad ==> Discover how a young Nigerian graduate now makes a consistent 40k per week doing a legitimate online business. You too can start yours now, click here!!!


  1. Da Grin of blessed memory is this Democrazy or Crazydemo…graduates were in s treet looking for Job and ordinary stupid man with big cheeks is collecting 100 million per month………se e ni kumo ni…………dont forget that God dey ooo

  2. Did the house have such powers to unilaterally raise allowances of its own members without check from any other government agency? This is absurd!
    No wonder they always delay & load the yearly national budget with all sort of “expenses” before passing it.

  3. we are in trouble in this country.we vote them in,they deliberately drag the passage of the minimum wage bill of meager 18,000# till election period to give an excuse as to how to get them back in.and they dispense millions to themselves.!?kai!what a shame.ko buru sha!we all will suffer this hardship.

  4. 99.9 percent of Nigeria leaders are animals in disguise of human skin. How could a single person be earning such a huge amounts of salary including other discloseable and non-discloseable allowances and yet still embezzle the money that ought to be used for d benefits of d poor masses!!! Many youths (including Graduates) are wandering about in d street, finding it difficult to eat not to talk of living a happy life bcos of financial incapacitation. When u die, carry all d money go heaven!!! Olosious (stupid) people!!!


Please enter your comment!
Please enter your name here

More Articles Like This

- Advertisement -