I am not questioning the validity or the intent of BVN Program that just ended on October 31st 2015, although I was recently informed that a new date of January 31st 2016 to accommodate Nigerians in Diaspora has been established, but obviously, Nigerians in Diaspora were not in any form considered when such program was being conceived. The ongoing bad governance for over four decades have started threatening the unity of a peaceful rich and populated country now that crude oil prices is selling off, and the treasury probably empty. The country failed to plan for the growing population in the past, and that action explains why Nigeria has large percentage of her population stranded in Diaspora.
There might be close to 10 million Nigerians in North America and not up to 10% of such group of Nigerians has fully participated in the BVN program that was meant to expurgate suspected individuals’ ill-gotten bank accounts from the country. Nigerian leaders must find ways of monetizing and utilizing the hidden assets of Nigerians in Diaspora because such group has enormous nonperforming assets that would be beneficial to the country’s ailing economy.
Monetization of nonperforming assets of Nigerians in Diaspora is a panacea to reviving country’s recession-bound economy (details to be submitted upon request) and such action would help to save democracy in the country. Unity is strength and the game of large number must also be considered by all the ethnic groups yearning for their own sovereign states, because China, India and America have all benefited from large numbers. What the country needs, is simply to renegotiate the forced marriage that got all the ethnic groups together, and formulate an acceptable and workable entity for all the groups.
Nigerian policy makers must engage in more due diligent processes that would help them to focus more on “aiming on targets before shooting” instead of just shooting sporadically in the empty space hoping to get some ignorant birds. Let subsequent monetary and fiscal policies be result-oriented in the targeted accomplishments. Policies that are not well articulated must eventually end up in dust bins where such policies belong in the first place. Nigerian President is currently in the fierce battle of saving the country from the unseen natural forces of financial, social and economic nightmares that would be taking the country into deep recession in the coming months, so all tribal issues should be handled with caution, because such tribal issues might be capable in creating state of….. Let Nigerian policy makers be reminded once again that the global village will be heading into deep recession by fourth quarter of 2016, let the government make adequate accommodating plans to survive the global carnage. President Buhari and the CBN governor must quickly reconsider the battle of saving Naira because the cost and the unintended consequences are getting ugly and would continue so bad in coming months.
Christopher Okoli (Nigerian-American trained Investment Advisor) Nov.3rd 2015
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