The Paris and London Club Loans Over-Deduction; Matters Arising

December 5, 2016


By Omaga Elachi Daniel

So much has been said about mis-governance in this part of the world, corruption, miscarriage of justice, financial malfeasance, government’s ineptitude, non-accountability in government, looting with impunity, gagging of the press, etc. but not much has been done to change the status quo. This is simply because the conscience of government has gone to sleep a long time ago, and no one has the courage to awaken it. This isn’t peculiar to Nigeria or Africa alone. Even western nations that now practice ideal democracy had issues like this until there was a concerted effort by civil elements toward social revolution. This can only be achieved by over-dramatizing such shameful conditions, and by consistent internal and global vigilance.

Governments anywhere in the world will rule with impunity if they know they can get away with it. At Beyond Boundaries Legacy Leadership Initiative (BBLLI), we intend to buck this trend. In line with our mission to promote good leadership for sustainable development and accountability in government, by bringing to the fore the business of governance to the consciousness of the governed, we will continue to be vocal about any act of mis-governance even as regards to the most trivial and most mundane issues until the conscience of the government, and the consciousness of the governed is awakened. They say the only thing necessary for the triumph of evil, is for good men to say or do nothing. May we never be caught on the wrong side of history! In Nigeria, our major problem is that we care less about how we are governed. We allow myriads of issues that directly affect our lives go over our heads without so much as a protest. And often times we are mis-informed or out rightly ignorant of the happenings around us. That is what this whole rhetoric is all about. We at BBLLI find it incumbent upon us to bring to your knowledge that our various state governors recently received some funds from the federal government.

The 36 states of the federation collectively received over $4bn being refund of over-deductions on Paris and London clubs loans on the accounts of state and local governments. Details from both the CBN and federal ministry of finance headquarters showed kogi state received #80bn, plateau and Benue received #75bn and #91bn respectively.

Nasarawa State got #68bn, while Osun and Edo States got #84bn and #82bn respectively among others.

The money was credited into the respective accounts of the 36 states of the federation on Monday the 21st of November 2016. Regrettably, the governors aren’t anxious for this to be made public, hence the secrecy of the payment. However approving the allotments of these funds to various state governors, the president directed them to use the money to pay civil servants’ salaries and bring more dividends of democracy to the masses. Almost if not all the state governors owe civil servants a backlog of salaries.

It’s some few weeks to Christmas but the horizons are bleak. And we don’t know if we will ever go shopping. We are making a passionate appeal to the governors to think about the masses for once. As much as it will be very difficult for them to overcome the temptation to go their usual philandering ways, we beg them to make this “BIG” sacrifice because ultimately, it would cost them nothing, but it would go a long way in making the life of the indigent majority easier. We also call on the masses to be vigilant and be vocal throughout this period   until they receive alerts from their various financial institutions. Lastly, we call on the EFCC and ICPC to closely monitor the disbursement of these funds to the rightful and appropriate beneficiaries, which should be channelled towards cushioning the monstrous effects of recession on Nigerians.  God bless the federal republic of Nigeria.

Comrade Omaga Elachi Daniel is the Executive Director, Beyond Boundaries Legacy Leadership Initiative and can be reached via +2347036799435.

Modupe Gbadeyanka

Modupe Gbadeyanka is a fast-rising journalist with Business Post Nigeria. Her passion for journalism is amazing. She is willing to learn more with a view to becoming one of the best pen-pushers in Nigeria. Her role models are the duo of CNN's Richard Quest and Christiane Amanpour.

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