Monday, 1 July 2013

Reasons Why Jimoh Ibrahim Should Not Be Allowed Near A Corporate Fraud Seminar As A Guest Speaker By Kingsley Chima

I received with shock and dismay the inclusion of Barrister Jimoh Ibrahim as one of the guest speakers at the workshop jointly organized by the SFU and City Police of London which is to hold between the 1st and 5th of July 2013 at the Oriental hotel. It baffles me why Nigerians forget so easily and in a jiffy while our counterparts in advanced nations keep accurate records which serve as a parameter to accord honour to whom honor is due.
Jimoh Ibrahim is an embodiment of fraud, he is infact a corporate fraud in its entirety; at least with my knowledge of his handling of affairs as the Chairman of Airnigeria. An airline brimming with great staffs, unique structure and promising positioning but for the myopic and wealth amassing management shenanigan of Barrister Jimoh Ibrahim, was ran aground! In spite of being a beneficiary of the Federal Government's Aviation Intervention Fund which was to the tune of 35.5billion Naira .
I have these points to make and leave you to decide the integrity of the Mr Turn-Aground that you have chosen as one of the guest speakers :

1. Jimoh Ibrahim used Air Nigeria money to set up (National Mirror),and forced the idea of giving out this papers free of charge to passengers on board Air Nigeria aircraft's,and later will send invoice of over N30m (THIRTY MILLION NAIRA) to Air Nigeria for payments monthly. What appears free to passengers was always paid for by Air Nigeria. The industry practice is usually for the airline to produce inflight magazines on quarterly or every six months which is served on the aircraft's for passengers to read while on board and was not to be taken away. From this action, Jimoh Ibrahim was defrauding the airline of huge income on monthly bases just to mop money away not minding the negative impacts this action was having on the airline's books. Its only a criminal who has no good plan for the organisation that will go on this venture.
2. In airline business,every passenger flying is expected to pay what is called (PASSENGER SERVICE CHARGE PSC) which is collected by the Airlines on behalf of the airport authority. Jimoh Ibrahim through Air Nigeria, collects this service charged and ensure that its never remitted to the airport authorities across all Air Nigeria network. This accounts to the unnecessary and embarrassing delays the airline recorded while flying from the hands of this airport authorities. This are verifiable information's. This is against corporate ethics.
3. Jimoh Ibrahim through Air Nigeria collect passenger money in advance as applicable in the industry before flight,and will refuse to pay service providers who render various services that will eventually make the aircraft's ready for operations. It is criminal to deliberately refuse to pay suppliers/service providers who played some role to enable the airline operate its flight successfully. He gives out standing instructions in this respect and nobody goes against the directives. This is why Air Nigeria makes so much money, yet her debt profile keep mounting. A responsible and genuine corporate personality will never encourage this practices.
4. Jimoh Ibrahim is a threat to organised business as all his interest is to mop money away not minding the effect of this actions on the business. He has no simple respect for the rules and regulations guiding organised business as his love for money and wealth are threat to the survival of any business he ventures into.
5. Jimoh Ibrahim shut down the operations of Airnigeria on the pages of newspapers(The Guardian and Punch, 5th/6th of 2012 ) and sacked all staffs retaining only 50 staffs.
Why? He claimed that staffs were not loyal! Is LOYALTY enforced or earned? Who could have been said to be disloyal? Staffs that were been owed 3-5months salaries yet still resumed at work until the sudden, indiscriminate and bizarre news or our fraudulent Barrister Jimoh Ibrahim? Does he deserve to speak on Corporate Fraud???
6. Barrister Jimoh Ibrahim refused to remit our Tax and Pension contributions yet deducted it from our salaries! Who could have been said to be disloyal? Staff that still go to work diligently or our pseudo-management fraud called Jimoh Ibrahim?? Does he deserve to speak on Corporate fraud???
7. Well, let us agree that every employer has a right to take decisions as regards his organisation. However, are employees not entitled to some form of gratuity after investing a great part of their time and resources to ensure profitability? Who could have been said to be disloyal?? Does he deserve to speak on Corporate Fraud???
8. There should be a serious and real time investigation of the company called NICON INVESTMENT COMPANY. This is the wonder bank of Jimoh Ibrahim fraud activities. With the Air Nigeria situation, I observed that this was used to commit most of these money movement. It is also of note that thus company remains a creditor to Air Nigeria. Nicon Investment borrows money to Air Nigeria to pay staff salaries and others. In the contrary, it is Air Nigeria's fund that is being recycled and Air Nigeria ends up paying loan interests to Nicon Investment.
If we are serious about fraud prevention and elimination in the country, the NICON INVESTMENT lead should be thoroughly considered.
Why is it that every business organisation Barrister Jimoh Ibrahim tries to Turn-around he ends up Turning- aground??? Jimoh Ibrahim killed Nicon Airways, Killed Nicon Insurance, Killed Energy Oil, Buried Air Nigeria - Nigeria's Flag carrier and best customer-friendly airline, buried News Watch Magazine. A man who embezzled N35.5Billion from the FG given to support Airlines, embezzled employees cooperative fund, pension fund, tax deductions etc.
His actions are highly incoherent with the Government drive to create employment and reduce youth restiveness as well as crime rate.
I implore the organisers(CBN,AMCON,SFU,LONDON CITY POLICE, NPF) of this workshop to have a rethink as regards their choice of speakers as I condemn in very strong terms the inclusion of this CORPORATE FRAUD MOGUL parading himself as a Businessman. Where is Dr. Mike Adenuga who keeps enlarging the coast of employment? Where is Pa. Gamaliel Onosode who has been a corporate strategist from time immemorial and has never been tainted in a negative light?? Where is Reverend Olu Odejimi the scion of stock broking in Nigeria??? Where are these men of honour and impeccable character that youths look up to as mentors and role models???
It is a great insult on our sensibilities and a sheer waste of time to listen to Jimoh Ibrahim speak on CORPORATE FRAUD in a country as ours when his ways are fraught with the very topic of the workshop.
He does not have the corporate management pedigree and moral justification to be invited to such a gathering less being a guest speaker. Please let the world know, it might be your company tomorrow!!!
Finally, I submit with disappointment that if this character is given such recognition, then, there is no hope for the on going effort by the government to sanitise all sectors of our economy from fraud and fraudulent personalities like Jimoh. As you read this peace,the impression out there is that Jimoh Ibrahim bribed his way to be part of this well thought out project which i think is in the right direction. I strongly advise that if the Police is not part of this allegations, Jimoh must never be given an opportunity such as this to play on our sensibility, otherwise, we cannot understand how and why this character that is under investigation by the same fraud unit for fraud, financial crimes, diversion of money and other fraudulent practices will be considered for this project.

Best regards,
Kingsley Chima

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