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Despite Hefty Debt Why going For Unclaimed And Dormant Accounts?

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By Abba Dukawa, Kano.

President Muhammadu Buhari signed the 2020 finance act on December 31, 2020. The Act, takes effect January 1, 2021. Now Buhari’s administration has perfected ways to borrow funds from unclaimed dividends and dormant bank account balances unattended for at least six years.

Nigeria had perpetually grappled with the twin problems of heavy budget deficits and weak balance of payments. What is the guarantee that the incoming administration in the next two years and the subsequent ones will have the capacity to repay Nigeria’s debt that has reached a scary situation where total debt stock stood at some humongous rose to N31. 009 trillion ($85.897 billion).

From every economic indexes that if the country keep borrowing, and our debt increases beyond accepted level, and our growing share of GDP now needs to go into debt servicing or repayments, it may start to take the tax revenue that is needed for development. We have seen nations, especially developing ones like ours, suffer severely from such bloated debt burden, which means struggling to meet even the debt interest payments with nothing left to develop

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Now financial Act, takes effect from January 1, 2021. Despite Hefty Debt for the country Why now Federal government intend to go after the amount of money in dormant account balances is about N737.5 billion. When combined with the N158 billion outstanding unclaimed dividends, the total amount of money that would be taken over by the FG may be up to N895.5 billion.

Even Though Minister of finance, dampened fears of owners of dormant accounts and unclaimed dividends. She stated, “They have nothing to lose as they would be paid their entitlements from the Special Trust Fund to be set up by the Federal Government once they are properly identified. How sure the owner of the unclaimed fund will access they fund considering bureaucratic bottleneck in the country is too inefficient and will not help the claimant to access his unclaimed dividend problem been solve.

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Is this not be stressful for an owner to request for returns of his fund. To be fair, how can a shareholder with an unclaimed dividend of about N10,000 expected him go to Abuja just to make a claim of the unpaid dividend.

The shareholders had opposed the idea , saying the government lacks powers to manage funds belonging to private sector investors. In spite the existence law before this financial act clearly states that there shall be no forceful takeover of any private movable property of any Nigerian without due and appropriate compensation and or valid court order. In view with guaranteed of rights to own property as provided by the nation Constitution, this move was unnecessary because capital market regulators and operators had leveraged technology to put in place initiatives that are already addressing the issue.

Almost every day, Concerns Nigerians and Economists experts express worries over the country’s rising debt profile. Even 2021 Budget over N3.3trn will go to Debt Servicing. federal government has disclosed how it plans to sell and concession government owned properties and non-oil assets to fund the 2021 budget.

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One may surprised too about the speed with which leaders at all level go for questionable bonds while legislators were preoccupied with determining their immediate benefits with unnecessary and conventional allowances which took no account of the state of the economy and the welfare of the people they represented. Nigerians current concern, however, is who will pay these huge debts? Really not us and also too weighty for the lean shoulders of our children? Is this not our children will be turns to slaves in their own country by the creditor nations, just because they want to pay off the debts left by the frivolous political class that have ravaged our common patrimony?

Dukawa write in from Kano state and can be reach atabbahydukawa@gmail.com

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Opinion

Bauchi Governor Is A Servant Leader With Foresight Who Is Always Talking About Nigeria’s Progress, Unity – Amb. Tasiu Suleiman

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Distinguish Senator Dr Bala Muhammad (Kauran Bauchi) the indefatigable Executive Governor of Bauchi State.

I bring you fundamental greetings on behalf of the entire Fulani Pastoralists Nation.

My Name is Amb Comrade Suleiman Muhammed Tasiu CNY AKA NIGERIAN CONCERNED CITIZEN.

I read with dismay the Political miscalculations and wickedness orchestrated by the Governor of Benue State especially on pointing his dagger to the FULANI Pastoralists Brothers and Sisters in his domain.

Sometimes, I wonder why the Northern Governors are not doing the needful to challenge the Governor of Benue State over his negative actions against FULANI Pastoralists?, are his Northern counterparts afraid of him or what is happening and what is the reason for their silenced?.

I have been fervently praying and wish he meet someone who will use his God given power and positions to rights his wrong.

Alhamdulillah, The Governor of Benue State have met with a true leader who truly mean well for Nigerians, who strongly Advocates, stands and believes in ONE NIGERIA.

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“I know with the recent punches he received from his Bauchi State counterpart he will be cautious anytime he want to touch us, Your Excellency Sir,with this you have successfully call him to order and reply his ill hated words to not just the Fulanis but the entire Muslim World.”

with the reality on ground Almighty Allah have answered our long time prayers and the must high have send us a GODSEND Angel from above to wipe our tears,for that we collectively say Thank you,Thank you May Almighty Allah continue to bless you with abundance rewards now,always and forever.

The Accidental Governor of Benue State has met with his Waterloo.

With the recent happenings I was compel to cross check and made some research about your humble self KAURAN BAUCHI and in my research I have come to realize that you’re not just a Political Bulldozer but an IROKO whose capacity is incomparable to any Political leader in our dear Country Nigeria.

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I have reasons which are below.

KAURAN BAUCHI is a servant leader who Focus On Getting The Job Done.

He is that person with Anticipatory Thinking capacity who Consider All Consequences Of his Behaviors Before he Act.

He is a true leader who
inspired others to raise their own bar.

He is someone who Really Care About his People.

Historically he has never lost in any battle, be it Politically and otherwise.

Despite the fact that he contested from a opposition party and with an incumbent Governor then but with the help of Almighty God he defeated his opponent one hand.

He is positively empowering people to accomplish their goals, irrespective of where somebody comes from.

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Kauran Bauchi have in differents capacity translated his vision into reality.

“I was in Bauchi State recently I have seen different road projects, some where already commission while others are under construction, I have seen thousands of housing estates projects ongoing and many more.”

Others are busy strategizing how to scale through for their 2nd term but His Excellency Governor of Bauchi State is busy reshaping and modernizing his State.

 

He is that leader who makes his peoples problem his number one priority.

He have the believes that Leadership is a privilege to better the lives of others not an opportunity to satisfy personal greed.

He is A SENATOR,A MINISTER , A GOVERNOR and an INCOMING insha Ar-Rahman.

Sincerely Yours.
Amb Comrade Suleiman Muhammed Tasiu CNY.

National Publicity Secretary.

Miyetti Allah Kautal Hore Fulani Sociocultural Association of Nigeria.

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Opinion

2023: Gov Bello, Master Key To A Padlocked Nation

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Gov Yahaya Bello
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By A. M Danjumah, Kogi

Competence, they say, should be the criteria for choosing a leader. It is the very right thing to do if truly the human nations, especially the black race of Africa, particularly Nigeria, truly want to record its deserving progress in the area of growth and development that matches the age it has recorded since independence.

Nigeria, our country, needs to be delivered of the pregnancy of tribalism, religiosity, bitter politicking, corruption, nepotism and unemployment that the country was impregnated with by the unruly approach to leadership of some of our past heroes who are supposed to lead us aright but were so focused on pursing selfish interest and diverted meaningful attention to superiority contest.

The present government of Muhammadu Buhari resumed with the intention of being a crusader of positive change to make the country an attractive home for its citizens to stay and also attract foreign investors to come-in and invest, thereby boosting the economy of the country, but despite all the beautiful ideas, only few were worked on to reality. Many were dead on arrival.

If Buhari was to be of a younger age compared to his age of the present, he would have been the best leader that ever emerged in Nigeria but those who are “worm” in disguise parading themselves as saints in the country are unfortunately the cabals around the president and, are taking advantage of his old age to upturn all the good efforts and policies of the president which is the very reason the country is still in mess today.

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For the love of wealth and dirty political calculations, those who are suppose to be the management of our securities turns out to be the flame inducers of insecurity in the country hiding under cover and still join the public to condemn what they know conciously they are the sponsors.

It’s not a lie that rumor is defined as “half truth, half-lie told”. In most cases, some indictments if truly investigated have elements of truth. No insurgence or bandit can survive in any country without betrayal, support of some insiders in same government for what ever reason best known to them. If you ask me, I will say that information and finance are the strongest weapon of the bandits not the arms they are carrying in itself.

If no one is feeding them with secrete plans of the government, information about their target villages and same time supporting them with cash, they would not have been able to carry out any successful operation talk more of buying more and latest weapons.

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Sentiments put aside, what Nigeria as a country need now is aggressive approach to curb all existing social problems and boost the economy to attract speedy progress. And, who Nigeria need now to have the rights put in place is a young, agile, dogged, intelligent and a problem solver as Yahaya Bello of Kogi State who has been tested and trusted via his leadership antecedents as majorly practicalized in his State (Kogi), convincingly showcased in various national assignment he was privileged to be appointed to handle and the decision he has made and the proactive measures put in place during time of national and world wide crises that even the world powers could not intelligently contain as Yahaya Bello did proactively in his state to prevent recording any casualty.

Yes, various interest groups and international organization are calling on him to save the country out of the crises that all the institutions are faced with currently, be it educational institution, security institution, economic institution, political institution, health institution, even marriage institution is not an exception considering the high rate of divorce that has become the order of the day. According to the structural functionalists, which is very true, in as much as what affects one institution touches the other, all the institutions need to be adequately attended to by any government whose aim is to achieve for his country, an all-round success. The good people of Kogi state can boldly attest that in the time of this present government of Yahaya Bello, all the aforementioned institutions have gotten a commendable attention that has so far put the state at speedy pace of all-round development.

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I want to join the progressives to appeal to Yahaya Bello to please listen to the yearning of the masses. There are several others but the country in pain has a collective resolve to have the young, able and capable as the next president and you stand out twice as tall in the assessment scale which makes you the fittest to be objectively invited to take the bold decision of accepting to contest as the president of the federal republic of Nigeria. Just say yes and leave the rest for Almighty Allah and the Nigerians who have invited you into the contest.

Gov Yahaya Bello

Gov Yahaya Bello

In conclusion, In as much as votes count and you are well known to be an embracer of free and fair election, the voting strength of the progressives amongst the masses will surely see you to victory. In you, Yahaya Bello, is the master key to to unlock our country Nigeria that has been padlocked of its due progress.

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Opinion

My Encounter With Ohi Otenyete of Ebiraland, Alh. Isa Ozi Salami

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“The world could have been great if only good people are made more useful”. I must say that Ohi-Otenyete of Ebiraland, Alh. Isa Ozi Salami is an open-minded person, and a legend with the Capital letter “L”.

Personally, I have had many encounters with powerful, experienced, and knowledgeable people in my journey of life, but I have chosen to write about my first encounter with the Ohi-Otenyete of Ebiraland because I consider it as a rare privilege to have words with such an experienced, knowledgeable, Influential, and concerned father like him.

It will interest you to know that, Alh. Isa Ozi Salami is one of the prominent Ebira Sons who have made personal sacrifices for the growth of Ebira Land, Kogi State, and Nigeria at large.

Alh. Isa Ozi has traveled far and wide and his major concern is the progress of his land, and he’s a vibrant man who so much believes he is indebted to his hometown (Adavi), and as such, that impression should be what will guide his actions, always.

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From my encounter with Alh. Isa Ozi Salami, I have learned that;

– When someone says to you that you are doing great, he’s cautioning you to maintain your standard and don’t relent your efforts,

– To leave a good legacy in whichever position you occupy.

– Good name can take you to many positions and breakthroughs.

– If one is destined for a particular course, it will definitely come to pass because no one can change it.

– Tolerance and patience are the keys to effective leadership. Leaders must learn to tolerate and be patient with their followers for societal growth and development.

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– Make life comfortable for the people you represent, because the happiness of mankind is the happiness of God
Almighty.

– Be accessible especially when you become a political office holder/public servant.

Indeed!, alot was learned and if I will talk about all that was learnt, I will have to write a storybook, Yes!, I will have to write a book about my first encounter with Ohi-Otenyiete of Ebiraland.

To my surprise, the prominent leader acknowledged my passion and professionalism in updating the public about governance and administration. He said and I quote; “Chairman, your Media Aide is doing an excellent job. Please, Habeeb, I know you are wondering how I got to know you, don’t be surprised, you are loved, cherished, and known than your imagination, whoever appreciates good work will always appreciate you because you are too good at what you do. You give reports to those of us outside the four walls of governance the way we should understand it, at the end of every of your report, it seems to me as if I was present at the event. Please, don’t stop, keep doing it politely, I can confidently assure you that your passion will take you to places”. I almost shed tears when I realize that, the legend I fan and look up to, also fan me.

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From his experience and words of wisdom, I have concluded that, Alh. Isa Ozi Salami has made lots of impact on humanity, standing on the path of truth and highly principled with the interest of the masses at heart.

May God Almighty continue to protect, bless, and grant Alh. Isa Ozi Salami good health, Ameen.

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