Nigerians need to understand the value of the success in the Yemi Cardoso-led CBN and the macro-economy in stabilizing their lives, for now at least. The improved positive rating by Standard & Poor should be celebrated as a welcome signpost on the country’s long and difficult road, back from the edge of the economic abyss caused by the previous government to fiscal recovery.
This government was held responsible for the catastrophic collapse of the naira with corresponding rise in prices and cost of living because it cancelled the so-called petrol subsidy. In fact, this government inherited a Trojan horse cake, empty inside by corruption with nothing inside so it collapsed in this government’s hands. Unfortunately, too many are in such penury as to not believe that they are better off now than before this government took over.
We must remember that Nigeria has been plagued with governments failing or refusing to pay salaries for months and pensions for years. It is this current government which has largely paid the backlog, even though at a lower naira value and unrelated to the exchange rate when the payments were due. Also, unfortunately too many Nigerians disregard Nigeria as a country and a financial entity because they have made money mostly through greed and corruption.
Many countries would have collapsed with far less corruption than exists ‘routinely and acceptably’ in Nigeria. However, we the babies, children, adults and aged in Nigeria have not escaped unscathed from the crippling corruption burden on development as easily measured against Sustainable Development Goals.
Almost throughout our lives but at an increased pace, we periodically face previously unimaginable revelations by financial watchdogs like ICPC, EFCC, the police, banks and government agencies regarding huge totally unjustifiable financial fraud, outright theft and excesses, countrywide thefts amounting to frequent avalanches of stolen wealth. The thing about EFCC accusations and the regular freeing of the accused often due to technicalities, or the light sentencing when found guilty, is that until recently, the money or mansions for which they are accused remained missing in action, MIA. We are having an improved recovery rate of stolen funds at last…so much so that even the EFCC have had their strong room of recovered gold raided by their own men.
The EFCC staff thieves have been caught and EFCC just dismissed 113 for various corruption crimes. Hopefully they will be prosecuted as they would have prosecuted others for similar offences. There is a responsibility by the EFCC authority to protect the amazing incorruptible members of staff at EFCC by regular supervisory corruption evaluation screening exercises on EFCC status.
Nigeria would be far better off if the Association of Corrupt and Corrupted Nigerians were to call a nationwide meeting to suspend indefinitely their assault on the Nigerian ‘Financial Wellbeing System’. The ACCN members should be informed that corruption at all levels and in every facet of life must be curbed and even stopped. If not, Nigeria will never join its 1960s independence mates like Malaysia, now well advanced, in achieving an acceptable level of development with the countywide provision of the most basic developed world human facilities of running water, regular electricity, good education, adequate health facilities and good motorable roads from village to villa. Of course we have made progress, increasing our number of health and education facilities since the 60s and coverage of the citizenry. However, we must be honest enough to admit that the quality of what is provided in those essential service areas would not qualify Nigeria to be a member of the Good Governance Providers Club for its population especially in relation to cumulative budgetary incomes since independence.
Someone needs to just add up the sums involved in all the thefts stolen from Nigeria. The Abacha loot still trickles back from time to time. Estimates suggest around $600b or $600,000,000,000 /160,000,000 people (we are nearer 160m than the touted 200+m population) = $3,750/Nigerian =N5,625,000 per Nigerian=80 months of current minimum wage=6.6years. The ACCN members say that they are only stealing ‘no one’s’ money by budgetary fraud, budgetary inflation or padding, wages or ghost workers fraud, Constituency Project scams, extravagant political advertising fraudulent practices with huge multimillion mega-billboards next to hungry citizens and children and teachers lacking books, and toilets. But they are wrong.
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Indeed, they are no different from armed robbers because they deny the citizens life-skills. Nigeria faces periodic cholera epidemics solely because the missing $600b has deprived citizens access to potable water resulting in gastro-intestinal diseases, like typhoid enteritis. Why can the thieves not understand the gravity of their actions and desist from stealing food, water, books, shelter, the road from underfoot and roof overhead, the medicines, equipment and the health of a country struggling to become a nation -Nigeria.
There are politician, contractor, civil servant and scam thieves in every country. Organized, sporadic and institutionalized theft above 10% of revenues and services destroys and kills citizens, companies, and countries whether blood and bodies are seen or not.
In medicine, we see real blood and real bodies caused by excessive maniacal corruption. Remember that many millions are honest Nigerians daily tempted to become dishonest in order to survive, to fit in or because the corrupt almost always get away.
Kudos to the EFCC for the recent arrest and prosecution of over 900 local and foreign scammers with deportation of over 100. Why were foreign deportees allowed to leave with so much personal luggage?
