Sanusi and the $20 billion

 By

Sampson I.M Onwuka


 



The Inauguration of Muhammad Buhari as President of Nigeria is the 2015 most memorable moments in the history of Nigeria.

But the central focus of his administration is the contentious issue of $20 billion supposedly missing from Nigerian foreign Reserve accounts.

How well he handles the issue defines the rest of his political career and his Presidency. It may also strike a bargaining price for limits of expectation for Nigerian currency which is estranged between debtors and projects that are stymied. 

Several Newspapers believe that Lamido Sanusi was sacked for publicly sharing the information on this account. That he was opposed to the corruption of the last administration and needed to be dealt with.

It was not exactly a misinformation but couldn't have taken place without pointing to the former head of Nigerian government, Jonathan Goodluck, whose actions are unduly blamed for Central Bank responsibility.

Lamido Sanusi was not sacked for spilling on $20 billion missing from Nigeria ECA, he was interfering with Nigerian politics as a non-political appointee. The announcement he made couldn't have happened the consent of the ex-president - assuming this is the case.

In fact we can easily suggest Lamido Sanusi can vacate his office along with his deputy and had the leisure of removing themselves from Central Bank of Nigeria.

It needs to be mentioned for the sake of posterity that Lamido Sanusi was not without blame for the money and neither can he claim that he was not aware of the periodic balance sheet problem with ECA and unless he was faulting the ex-president directly - there's explicating to do which cannot proceed without the direct permission of new Nigerian President Mahummadu Buhari.

If the Nigerian President Muhummadu Buhari should vacate this lit information concerning the $20 billion, the end results may fault anything which his administration will promote in the interest of the country.

But in so far these accounts are concerned, there is hardly any reasons why a day by day minute by minute update cannot be checked by the seating office of the Federal Government even it means creating a new monitoring department.

(1) In order to arrest this situation, there are various material issues to consider, that there is a more common issue of the role money in balance fiscal policy and aiding the balance of currency of any one nation.

The investment of any one economy in the world rely especially on how well a unit of exchange bargain with the rest of world.

Failure of Nigeria to promote its economic worth in the world is part of the reason why Government officials collapse into expropriation and individual propensity towards a liquid economy such as United States.

(2) The United States and even Great Britain where the rogues play their role have no need for shadow banking and unless the money reproduces for any duration, these individual and ex-crow accounts die sudden death in any economy in spite of the emergent property.

In general, the economic business of the world ebb and flow in two principal dimension, but it is the role of the unit of exchange that enhance the buying power of the economy and its sound market (?) which from intent of economic exercise is short supply in Nigeria.

(3) For a fact $20 billion could not have possibly disappeared with notice although the possibilities of digital information is the rate at which a phishing scam can denigrate any resources base and unlikely victims are people not necessarily beyond suspicion.