Capital flight: $4.7bn repatriated in 4 wks

Comment on an article from the Nigerian Vanguard 02/03/2009

Have you ever thought to think of what the true value of the naira is?
We do not produce any tangible forex earners apart from Crude Oil.

Capital flight is due to the mostly corrupt government taking their stolen loot out of the country.
In any other transparent economy if USDs were leaving the country it is usually to pay for goods and services and capital development projects which in the long run will stimulate the economy and reduce the reliance on Forex in the first place
If the Naira is allowed to float, it will go into free fall and the economy will collapse.

So the politicians are only trying to save themselves by staving off the imminent collapse of the economy. However they are doing this by dipping into reserves they didn't build up in the first place.

Politicians beware! When a nation collapses, the ruling classes are usually the first to be put to the sword by the hungry masses.
History does not lie, french revolution, Russian revolution, Liberia, sierra Leone etc if you don't know what i am talking about.

Policemen planned to go on strike, Okiro admits

Arguments for and against a strike by "Law enforcement officers" abound. Those in government and high places are naturally terrified of a strike by law enforcement agents. They will be stripped bare of their warm cloak of protection and be at the mercy of robbers and hoodlums like ordinary citizens, so of course they can not countenance the thought of a strike.
The argument follows that there will be widespread chaos and civil disobedience with the absence of security personnel on the streets and in extreme cases there will be a breakdown of society with unimaginable consequences. The events in Iraq after the overthrow of Saddam Hussein gives one an idea of the possibilities in the event of a strike

On the other hand, have the authorities thought to ask why police officers are striking? These are obviously a conscientious bunch of individuals (or may be not) who are fighting for survival in a society where they are increasingly disenfranchised and disillusioned.
They are also victims of corruption within and without the system as the recent PEF scandal goes to show.

The police force needs to be revamped before the country descends into complete chaos. Change does not happen overnight and has to come from the top.

The problems of the police force are legion but sadly all boil down to corruption, poor leadership and lack of job satisfaction

Give policemen proper training and equipment, reasonable remuneration, transparent career progression and a sense of pride. Provide a good quality welfare package, decent housing and healthcare then you should expect if not demand to see an improvement in the quality of the NPF.

It is not rocket science that if a member of an organisation feels nurtured and valued the outcome is a sense of duty and responsibility which will be manifest in increased productivity.

Not every single police officer is a bad egg (you may differ in opinion here) but how do you honestly expect a law enforcement officer not to resort to bribery and intimidation on N9500 a month when he is surrounded by greed, corruption and the flamboyant lifestyles of several so called pillars of society? It is expected in informal circles that a police officer will supplement his meagre income by resorting to extortion. That is why the masses are voicing misplaced support of strike action by the NPF in the belief that they will be free from the routine harassment and extortion of these individual

If indeed the wind of change blows and the NPF is revamped for the better, there will be no mercy and indeed no sympathy for a police officer who is found guilty of corruption or extortion.

How many people in good paying jobs resort to jeopardising their careers with N20 bribes on a daily basis?

So please before we castigate the NPF we should remember they are simply a reflection of the society at large, we should put pressure on the government to improve the lot of the NPF and indeed Nigerians as a whole.

Based on an original article from the Nigerian Punch

Nigeria forces impose peace after deadly riots

Here we go again!
Lack of education and good leadership with poor morla direction at work again in Nigerian society, politics has now become a religious affair
The christians and muslims can not hide their fear and distrust of each other, it is however the work of community leaders to work towards harmonising inter and intracommunity relationships, not sit in their "palaces" and await government handouts.

N’Delta: We Recommended 50% Derivation – Technical C’ttee Member

A member of the Technical Committee on Niger Delta and gubernatorial candidate of the Action Congress, (AC), Prince Tonye Princewill, said yesterday that the committee recommended 50 percent derivation which should start with 25 percent and increased to 50 percent before the end of President Umaru Musa Yar’Adua’s first tenure.This is coming as the Resident Minister of Christ Church Interdenominational, Venerable Richard Hart, said that the take over of mission schools by governments in the Niger Delta region was responsible for the moral decadence in the society which also bred militancy that has cost the region its peace.Princewill, who said the ball was in the court of President Yar’Adua noted that there was need for him to act on time so as to build confidence especially in declaring the Niger Delta an “Environmental disaster region”.“What the reports do not tell you now is derivation recommended is 50 percent to be achieved within the life of this administration with 25 percent of that to be done now so as to demonstrate political will and build confidence.“We have also asked them to declare the Niger Delta an environmental disaster area, stop gas flaring by December 2008, restore the status of our gateway airport in Port Harcourt to make it truly international and build new governance structures in the communities to checkmate the failures of governance”, he said.Among the recommendations he said was the pardon for repentant militants based on well spelt out rehabilitation plans.Speaking on militancy, Resident Minister of Christ Church Interdenominational, Venerable Richard Hart, while briefing the press on their 70 year anniversary of the church.He also used the opportunity to press for the forgiveness of those who killed and burnt churches in the recent mayhem in Jos, Plateau State, adding that people should market their faith not through violence.Hart said that the value system in the society started nose-diving when government took over the mission schools which emphasised moral education and removed it from their curriculum.To further help address the issue, he said that they were not only pressing on the government to return the mission schools but would go a step further to build new schools where the tenets of their faith would be espoused.“When churches were running the educational system, sound morals was taught and the system bred good individuals. What we have today is as a result of government owned school system.“We will continue to talk to government to return schools to missions where good values would be taught without compromising the quality of education. With the teachings from the pulpit and counseling, added to the creek drive by our trained pastors, the problem would be solved”, Hart said.On the cause of militancy, he said the neglect of the Niger Delta region was obvious and made it too clear that the center has not been fair to the region which led to protests and arming of youths.He, however, counseled militants to drop their weapons while the federal government should show commitment to the development of the region.



culled from This day Nigeria





Comment:



50% of nothing is nothing! What have the people of the Niger delta seen of the previous derivation?The governors of the delta region past and present have not demonstrated a willingness to better the lives of their kinsfolk, Rather they have demonstrated a willingness to line their own pockets.The issue is not percentage of derivation really but budget implementation and good leadershipUse what you have wisely. They are mainly asking for more funds to lootGod help Nigeria

EFCC and Nuhu Ribadu

In their efforts, the government and the powers that be aim to demonise Ribadu but they are only making him a living martyr.
The forces of good will always prevail over evil no matter how long you try to subvert justice, the truth will be revealed in the end. Nigerians are becoming impatient with this government, how much more can we take? We see corruption and corrupt officers holding the day everywhere we look. Everyday for the thief but one day for the owner!

China in Africa, what's the deal?

Western governments are getting alarmed at the rate at which China is penetrating fledgling African economies, is there cause for alarm?
The Chinese bring welcome investment to the African continent when others are more wary, they are active in quite a few, mainly pariah countries like Sudan, Zimbabwe and also countries like Angola, Nigeria etc
They offer help with infrastructural projects in return for crude oil or minerals as the case may be.
Some analysts say China is only trying to protect its economy by ensuring and safeguarding a steady supply of raw materials but at what cost to Africa?
A country like Zimbabwe is in a beggar has no choice situation and will take any deal the Chinese offer whatever the cost.
Critics also say that China with its poor human rights record doesn't have the interest of any country at heart and is only trying to ensure the best deal for itself. They therefore turn a blind eye to corruption, human rights abuses etc claiming to have a policy not to interfere with domestic politics.
A few deals come to scrutiny, are we really getting value for money?
In Nigeria, an $8 billion rail contract was signed for upgrading part of the railway service, critics have pointed out that China has just completed a similar length of rail track in more difficult mountainous country at a fraction of the cost, smells of underhand dealing
The Nigsat debacle also comes to mind, how much did Nigeria really pay towards the procurement of this satellite? and how come it has suddenly packed up so early in its life? I suspect we paid for a dud, what is the failure rate of new satellites and what is China's record in the field of satellite technology?

There are rumours that the Nigerian president, Yar'Adua may scrap the contract, who is going to lose out here Nigeria or China?

But then $340 million on paper doesn't mean that $340 million was spent on procuring the satellite some probably went to bribes. You get what you pay for after all. Apparently $250 million was paid to China to kickstart the project.

There are still questions to be asked

Africa needs to be wary of Greeks bearing gifts