Billionaires, politicians: Increase reserves

Tony Marinho

COVID-19 second wave brings deaths approaching 1,400,000, infections 59,500,000 worldwide; Nigerian cases 67,000 and 1,200 deaths. Hurry, if government and ASUU have really agreed. But education and health budget must be tripled in 2021 budget.

Government must stop thinking that Nigerians swallow its attempt to blame our raging political and insecurity problems on the ENDSARS campaign. Government must blame its many years of neglect of the poor for the violence in the aftermath of that campaign and also accept blame for not clamping down on SARS through political, ministerial, police service commission and NASS oversight committees and police officials. They did not act on information or supervise correctly available facts. Revelations before the judicial panels show government agents ‘heard and saw something’ horrendous during the last 10 years. It is because they refused to do their ‘Duty To Report A Crime -in or Outside The Force and the Presidency’s refused to act on reports from Human Rights Organisations, that the protest occurred in the first place. Government cannot deny culpability by neglect and is ‘Guilty as charged’.

The assertion by the president of senate that NASS ‘Salaries and Perks’ are ‘inadequate for the job they are doing’ is noted. NASS must resign or go on strike under the ‘No Work-No Pay Rule’. As Nigeria suffers another recession, it must shed the useless burden of political Salaries and Perks SAPping Nigeria dry, including vehicles for ingrates and Constituency Projects (CPs). These contentious CPs valued by ICPC in its 2019 Constituency Projects Tracking Group Report at N1trillion between 2009 and 2018/9 have been reported by ICPC as conduits for embezzlement of funds through duplication, non-completion and questionable when labelled  ‘Capacity Building and Empowerment’ so difficult to track. The whole constituency project scam, I mean scheme, is economic suicide in a depression. The NASS must voluntarily or by executive order, follow popular demand cut out both Constituency Projects and Salaries Allowances and Perks, SAP, by at least 75%.

Nigeria bears the often-fruitless burden of the huge financial cost of an unproductive and parasitic bloated political class, with an added huge multibillion annual electoral budget, for so long. A recession is an economic war. That political class should offer itself, ‘sacrifice themselves’, as willing soldiers in the current battles of the ‘Economic War of Recovery’ and offer up past financial gains to help Nigeria fight the recession. Take a 75% cut for one year to realise you can. It will be a win-win situation.  Nigeria demands sacrificial loyalty from its political class, like Nigeria’s gallant soldiers, police and citizens killed on farms and in markets.

The call by a leading billionaire [in dollars] to lead other billionaires to rescue the health sector is sadly inadequate for a terminally sick Nigeria diagnosed with the ‘Deadly Economic Disease of Recurrent Recession’, the second time in five years. Billionaires and multimillionaires play at the banks and CBN tables.

Hundreds of Nigerian police have been killed serving Nigeria. Tens of thousands of soldiers have given their lives at home, in ECOMOG and worldwide defending Nigeria. It is time politicians gave up their salaries and perks for Nigeria. It is time for banks and big business people to give their dollars and naira to save Nigeria.

The sickest industry in Nigeria is CBN and its Foreign Reserves. Nigeria’s politicians rejected advice to save when we earned billions weekly.  A weak CBN means toilet-paper naira. The dollar billionaires of the world under the banner of the Giving Pledge and led by Bill Gates and Warren Buffet has convinced many billionaires to give most of their wealth away at death or while alive. Nigerian billionaires have neglected responsibilities pre- ‘Recurrent Recession’.

So the ‘Nigerian Dollar/Naira Billionaires Club/Committee’ should organise to resuscitate the CBN’s Foreign Reserves. This is the season of loans. So known and the ‘Unknown General and Politician’ billionaires have a redemption opportunity time to lead Nigerian billionaires in organising a ‘Gift to Nigeria’ or ‘Soft Long Term Zero Interest Loan’ to a sick CBN add N10-20billion dollars. If not, their investments may go down the drain of Nigeria’s irreversible violent poverty.  This ‘Billionaire CBN Rescue Team’ could get GCON awards. Nigeria should have $100b as ‘Fixed Foreign Reserve’ now but politicians failed in their national duty. Can Nigeria’s and Africa’s billionaires rise to the task at home by improving Foreign Exchange Reserves? Strengthening the foreign reserves will immediately strengthen the currency and improve the value of naira in every citizen’s pocket. Central banks devalue currency, the unit of poverty worldwide. Politicians failed to save and build Foreign Reserves for Nigeria. Billionaires, known and unknown must step forward and save a sinking sick Nigeria before we drown in a sea of social unrest from poverty and cheap naira not worth toilet paper.

Note that it is a past and present joint governments’ failure to monitor, supervise and check security outfits caused both our recent SARS problem and our lack of foreign reserves. All governments should apologize for unleashing an unregulated SARS on us and for not saving when Nigeria had money. Government must cut the cost of governance with immediate effect.

This is a hungry and angry Nigeria -a ‘hangry’ Nigeria. Urgently implemented ‘EVERY WARD’ Youth activities will make Nigeria safer. Politicians: Be FLH -Faithful, Loyal & Honest.  The ‘WARD’ is a key to peace. ‘SAVE EVERY WARD: SAVE Nigeria!