By NBF News

In the spirit of brotherliness I have taken my time to write an open letter to the CBN Governor because he is in charge of monetary policies and therefore has the power to mandate or terminate any form of monetary or bank process that is illegal or inimical to the people. To the Governor of Rivers State, because He is the sole Administrator and number one citizen of the state and as such, has every right to know what goes on in the State and also to determine the rightness or wrongness of any business venture taken place in the State.

In March this year, a friend introduced me to a company called New Nation powered by DUKWE, an NGO that is registered in Nigeria. According to the Manager of the Project, it is meant to meet the needs of the poor financially, through different processes. One of which is called Women in Oil, a venture which they say any woman is entitled to register with the sum of 10,000 naira and thereafter, will:

Receive monthly profit sharing of up to 20,000 naira a month. Get health care coverage for high medical bills for you and your family.

Receive widowhood income support in case of loss of husband. Receive access to unsecured business loans for your business idea. Receive cars and take years to pay it off. Receive housing allowance and access to 30 year mortgage. Receive legal defence in times of victimisation/oppression.

Get trained in many areas of the oil industry and work in the industry if you want., Make new friends and receive support from a corporation of over 40,000 women., Guaranteed employment for one child over 18 year, Must be 18 years and above Nigeria Citizen, Marital status, tribe, education, Irrelevant.

Attractive! Well, the second part of the deal entails that any interested participant, be it a woman, or man, will pay in 20,000 Naira, bring in a hundred persons, before he or she can start reaping commissions from whatever business it is the hundred persons will be transacting with the New Nation. etc. In all, there is more to it that meets the eye if you ask me. As a youth, several years ago, I heard of a pyramid financial institution called UMANA UMANA, it was a wonder bank that came with the highest interest rate so far on planet earth and a quick return of investment, little did we know that the bank was a fraud up until one day when the bank closed its doors to customers and off they fled. Leaving thousands of people in Rivers State then crying for lost funds. Some died out of the shock others lived to pay back their debts while a lot more swore never to have anything to do with the banking industry.

I have asked myself and several other people in Port Harcourt town if the New Nation is not Umana Umana in disguise. No body seem to know yet as the level of poverty seems to push people into doing unbelievable things just to make ends meet. I know how things work in this country, if by tomorrow the New Nation ends up a fraud, and vanish with people's money, the Government will claim having no knowledge of their existence and obviously, will not even be able to refund back victims monies. Meanwhile it is a company registered in Nigeria to be operated in Rivers State. Then also, the CBN will say they are not a bank but an NGO and yet they were buying and selling money and doing almost all what banks do.

As a concerned Nigerian, my appeal is for both the Rivers State Government and the CBN Governor, to look into the activities of the New Nation situated in a posh location at New Nation Close off Chike Street, off NTA Road, Mgbuoba, Port Harcourt. The Government should be able to assure us citizens that the activities of the New Nation is not a fraud and will not leave us more impoverished than it has met us. Let the Government ensure that if the NGO is as true as it claims, the people must also hear from both the Governor of Rivers State who is the host state and the CBN Governor who is the chief regulator of monetary institutions.

Ned writes from Lagos.