From Boko Haram To Banking Haram


"The truth remains that we are a nation that learn very slowly and forget extremely quickly, we have a short fuse memory". PCD

It was only yesterday that Bokko Haram came and it has gone with the wind, the tragic drama has ended. As usual the last I heard was the other day; the government was reconstituting a fresh security inquest panel to look into the mayhem.

The killing came with all the drama, all the noise, extra- judicial killings, buck-passing, and gone with the wind.

I hate to say that in the next 12 months there will be another haram, infact like a friend put it we have become a nation of one week, one trouble, so therefore 12 months is long a time to wait.

During the Boko Haram, the President ran to Brazil, and alas another haram has come in form of Sanusi's CBN tsunami and as usual the President was away.

Many may see the recent happenings in the banking sector as strange, but quite a good number saw it coming, but as usual what do we care, like the wind, this too will come and go.

I was in Cairo for a few days last week; it was from there I learnt of the Banking Tsunami that Sanusi was leading. While in Cairo, despite all the problems which they have I could not help notice one overwhelming fact. Their system works, and my conclusion, we have no system!

I will in the next few lines prick our conscience to the realities of the recent actions that have and are taking place in the banking sector and throw up some questions.

Where was Soludo when all these loans were and insider racketing where taking place, we praised him for the consolidation, but how did we get here. All the criminalities being unearthed most occurred while he held sway.

When did the poor risk management start, how come we are surprised, these same high and might go about functions donating millions to several unworthy causes.

While we, the ordinary Nigeria watched haplessly at the Ali Baba and the forty thieves lifestyles' of these CEO's, the CBN saw nothing wrong.

They gathered awards and ratings left, right and center. While Banking was crumbling and nations were taking precautions…we were told 'nothing dey happen'. Now it has happened.

In case we have missed the point, the bad debts or in banking terms, the non-performing loans are an approximate N740b, and that is a quarter of the nation's budget.

It is only in Nigeria that a short skirt and tight fitting top is requirement for contemporary banking, add a smile and choose a convenient venue after we sweat, I 'll give you the account and we say nothing is wrong.

It was only in the same Nigeria that banks engaged in very funny and phony promos and silly bonanzas. Infact some are engaged in outright money doubling schemes.

These Banks' executives paid themselves audacious and ridiculous salaries, in theory so that they do not steal, in practice, to encourage them to steal.

Like one of the debtors said he was loaned money on personal recognition as a banker of 20 years standing. For crying out loud, when did personal recognition become collateral for billions of Naira?

In that case, I will change my name to Prince Olusegun Obasanjo, that name should not only ring a bell but be equally recognized enough to get me too some billions.

Soludo came with AFC…and it has since gone with the wind, Ndidi came with Transcorp, and for every one of them it was 'ala chop the billions'.

You cannot work into a Nigerian Bank and get a facility for N10, 000.00 for a fish farm or poultry farm project. Yet you will get billions for a phony company or magic contract if your name starts with an 'I' and ends with another 'I'. And for extra luck you have the Presidency as your insurance cover.

Just a flirting thought, if an ordinary Nigerian spends 5k a day (This is impossible because he lives on barely a dollar a day). That means he expends a hundred and fifty thousand a month, in a year of 365 days he would have spent 1.825M.

If that same person was 30 years and had another 30 years to live, he will in 30 years spend 54.750M (This also is difficult because life expectancy is 40ish).

Still the money like Lagbaja says “e never reach million” in this case “e never reach 100M talkless of billion”.

We are simply heartless; the 30 years of many Nigerians have been mortgaged by these Bankers, CEO and the association of 'borrow-pose'.

We are still speaking English- 'We Give Them 7 Days', 'Bank Chief Flees To UK', 'Ibru Sues CBN', 'Banks' Shares Fall', EFCC Declares Bank Chiefs Wanted', 'CBN Has No Right'.

The truth is just that, we are finished, from head to toe, we are going in cycles. Leader and led, government and governed, the citizens, one would wish that this is the end of the road, but sadly it is not, like an axiom says, 'we are talking about the damage done by a terrible action and how to remedy then another bad action follows'.

Let me quip in by saying whether we pour water into the garri, or garri into water, it makes no difference. We are very far from getting it right. I wonder if anyone has thought what this means…

I intend to send a mail to The Information Minister titled--Dora are you still re-branding? I think Nigerians, we may be docile, and we may think that we do not have the heart for change or a revolution but we sure do know the difference between sell and buy and my prayer is that may these all lead to an uprising that will bring out the beast in us.

We are no longer just corrupt but simply wicked, just like BOKO HARAM, the Bank Haram is on, but as usual we will soon forget and move along.

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