Peter Obi: Grand Corruption: Nigeria’s Greatest Threat

 

The recent report from the IMF consultation further raises concerns about the scale of grand corruption under the Tinubu government. The IMF now reveals that about N8.83 trillion in expenditure undertaken in 2025 is not reflected in the budget. This expenditure is not budgeted and is therefore not under legislative oversight or administrative scrutiny. This is horrible.

N8.83 trillion is as follows:

1.About 2% of our GDP.

2.Over 35% of Nigeria’s 2025 N23.96 trillion capital project budget. In fact, the amount is more than the actual released capital funding for 2025.

3.It is more than the entire combined budget for education (N3.52 trillion) and health (N2.38 trillion).

Avoidable Cash Crisis: Any Lessons Learnt?

 By Ayo Baje

Most important, the Central Bank must keep public opinion on its side, because the public is the ultimate source of its power and independence.” – International Monetary Fund (IMF) report titled: “Rethinking Monetary Policy in a Changing World”. 

On February 3, 2023, the media was awash with the report of an unidentified man who slumped and died after spending hours at a new generation bank in Agbor, Delta state in what turned out a fruitless effort to withdraw some money. 

Discrimination Stoking Poverty In Nigeria

By Bayo Ogunmupe

Lack of enlightenment, poor adaptation of technology and poor telecommunication infrastructure have been identified as reasons for financial exclusion in Nigeria. This lack of financial inclusion caused Nigeria to lack behind its sub Saharan African (SSA) country peers.

Many of our colleagues in the SSA like Kenya, Ghana, Ivory Coast and Senegal are better than us in terms of global system of mobile communication skills education and adaptation of technology. Every telecom company in Kenya has  helped financial penetration through free skills training and financial inclusion.  

At 57, Nigeria Is Not Near Greatness

By Ikechukwu Amaechi

On Sunday, October 1, Nigerians marked the 57th anniversary of the country’s independence from Great Britain. It was all pomp and ceremony.

Being a Sunday, the Christian community weighed in forcefully. Many churches became de facto cultural centres. Congregants were asked to dress in national attires to showcase the country’s rich cultural heritages.

The Federal Government, as it is wont to do, declared Monday, October 2, public holiday. For a country in recession where the economic indices continue to look south, that was one more day sacrificed on our national alter of mendacity.

“Leaders” sent out beautifully crafted congratulatory messages, telling us how much they love Nigeria and how prepared they are, if need be, to make the ultimate sacrifice in defence of her territorial integrity.