By Obinna Ejianya – 9News Nigeria
Buhari’s government has done wonderfully well in recovering looted funds from some section of members of the immediate past government of Dr. Goodluck Jonathan..
In fact over 600 billion naira has been recovered according to some official records.. However, my meagre question is …Has the looting stopped or worsened?
There have been many sacred cows and untold mismanagement of public funds. These are few of the trends revealing how moneys have been misappropriated in recent time under the watch of the government of Nigeria:
- Budget padding and Nigeria’s economy – Read Budget padding and Nigeria’s economy
- Reps cry foul over use of N270m to clear grass at IDPs camps – Read Reps cry foul over use of N270m to clear grass at IDPs camps
- Senate probes diversion of N5bn IDPs funds – Read Senate probes diversion of N5bn IDPs funds
Just one question amidst millions: Who is gaining from Forex Scam? Official dollar exchange is ₦350 to $1 ..While at main stream Parallel Market, citizens and businesses exchange dollar at ₦520 for $1 . Minus 350 from 520 and you get 170 naira difference.
Then check this out: Between December 2016 to January 2017..in one month, the Federal government has injected over $6 Billion dollars into the Forex market exchanged at official rate ₦350 to $1.. with the average parallel market difference of ₦150 to $1. It means that average of ₦9 billion was lost in one month through Forex Fraud that has been going on between ending of 2015 till today 21st February 2017..
Verdict; The truth is that Nigerians are not yet aware that if things and policies continue without complete overhaul and reformation, then obviously Nigeria will still plunge into deeper recession that would be so alarming that the rest of the world will be sending food and support to save lives in Nigeria.
It is so regrettable that in the face of the adverse ripple effect of the government’s policies that have totally deflated the economy of the country and eventually suffocating the source of livelihood of average Nigerians, yet people are busy beating drums to a dance of the dead.
Let those that choose to ignore the true state of the nation continue until one day they themselves will wake up from slumber to find out that there is nothing more left to cry for.