Read Comments Comments (1)

• Nsia 1 month ago

  Massa, the genesis of all the problems you have in Nigeria today are based on Greed, Selfishness, Bad Governance, Tribal Bigotry and Religious Intolerance.
  When Kwame Nkrumah was using part of his own pocket money to open a ...
  read full comment

  Massa, the genesis of all the problems you have in Nigeria today are based on Greed, Selfishness, Bad Governance, Tribal Bigotry and Religious Intolerance.
  When Kwame Nkrumah was using part of his own pocket money to open a school for students dismissed by the British in Ghana, Venal Namdi Azikwe was ripping you lot off.
  
  Nnamdi Azikiwe was found to have acted improperly by a British-led tribunal regarding the handling of public funds and the African Continental Bank (ACB) in 1956.
  
  Here are the key details regarding the investigation:
  The Tribunal's Finding: In 1956, the Foster-Sutton Tribunal, a commission of inquiry appointed by the British colonial government, investigated allegations against Azikiwe, then Premier of Nigeria's Eastern Region.
  
  Misconduct Charge: The tribunal found that Azikiwe had failed to relinquish his financial interest in the African Continental Bank (ACB), a private bank he controlled, when public money was injected into it. The tribunal declared him "guilty of misconduct as a minister" because he allowed public funds (approximately £2 million) to be transferred to the bank, saving it from collapse.
  The Outcome: The tribunal's report, published in January 1957, concluded that his conduct fell short of "the expectations of honest, reasonable people".
  
  Restitution and Political Response: While the British authorities urged him to resign, Azikiwe did not do so immediately. Instead, he surrendered his shares in the ACB without compensation and agreed to repay certain director's fees. He subsequently went to the polls, and the people of the Eastern Region re-elected him to power, viewing the investigation as an attack by the colonial government.
  
  The investigation focused on the conflict of interest arising from him being both a high-ranking public official and a private owner of the bank benefiting from public funds.

  reply