Showing posts with label Naira - Nigerian Currency. Show all posts
Showing posts with label Naira - Nigerian Currency. Show all posts

Friday, February 17, 2017

Save The Naira!! Save Nigerians!!!

By Henry Boyo
The Nigerian Public service is reportedly heavily burdened with a ghost population, who not only unexpectedly write job applications and present themselves for interviews, but who also open bank accounts and collect salaries, despite their human shortcomings! 


Curiously, the CBN’s “know your customers” directive to banks was obviously no deterrent to the establishment of bank accounts for such ghosts! Naira In a strategic move to forestall detection, these ingenious spirits discreetly also infiltrated the Nigeria Police Force, where a 2010 staff-audit revealed that ghost officers accounted for over 100,000 members, out of the officially registered 330,000 policemen.

The audit reports further revealed apparent collusion amongst the Police pay officers, and accountants as well as bank officials to successfully rob the NPF of over N36bn annually! Similarly, Alhaji Mande Lofa, Chairman of Tureta (LGA), has also confirmed that a verification exercise carried out in July 2011 by the Tureta LGA in Sokoto State led to the discovery of over 500 ghost workers.

Also, in July 2011, the Rivers State Universal Basic Education Board reported losses of N2.4bn annually to 1477 ghost workers, while the National Identity Management Commission, also revealed that, after conducting a biometric data exercise, it had uncovered 4000 ghost workers out of about 10,300 employees on its payroll.

Furthermore, in December 2011, Garba Tagwai, the Niger State Commissioner for Local Government Affairs also noted that “No fewer than 20000 ghost workers have been detected on the pay roll of the 25 Local Government Areas of Niger State”. The Ekiti State Governor, Dr. Kayode Fayemi, also observed that, prior to his administration, Ekiti State government lost over N3bn annually to ghost workers out of a projected annual budget of N80bn.

Unfortunately, the federal government is not immune to such fraudulent revenue leakages; indeed, in 2001, the incumbent Accountant General of the Federation, Chief Joseph Naiyeju, reported the discovery of 40,000 ghost workers following a man-power verification exercise. Similarly, 6000 ghost workers were detected after the completion of a staff audit, when Mallam Nasir El Rufai was Minister, of the Federal Capital Territory in 2006; revealingly, the FCT government was losing about $8m annually, due to ghost workers on its payroll.