Behind every policy
move by Nigerian government and its principal actors lies complexities which
are altogether and in the long run not in the overall best interest of the
citizenry. Many of these not well-thought over policies have been rashly and
hurriedly imposed by the powerful few on the poor majority. Antecedents have
shown how Nigerians have been robbed to pay Nigeria-its cabals and criminals
disguising as leaders.
It is particularly
striking that President Jonathan’s administration is renowned for these “notorious”
policies that have in a larger measure impacted negatively on most Nigerians and
to a smaller measure perhaps positively on few Nigerians. The principle of
equality rather than equity has always been at the forefront of their policies.
Their approach is a make-believe philosophy; they simply make us believe it is
in our best interests, and after all the noise of the opposition they
nevertheless have their ways and boost their treasuries of looted common man’s
money.
Democracy has a
globally accepted definition of “government of the people, by the people, and
for the people”, but in Nigeria, as usual, it is not without its modification; “government
by a few for a few”. Our law makers under many circumstances have hastily passed
bills that had potentials of lifting their incomes directly from the ones they
share at the chambers or indirectly from their various interests scattered
nationwide.
Those who know me and
my popular political perspective will appreciate that I have never dabbled into
any issue surrounding Malam Sanusi, being one I respect. He is a trained
Economist/Banker, I am a trained Medical Doctor, and so we pitch along
differing paths. But oftentimes, issues of political interests are bound to
overlap and crisscross and I think the issue of the N5000 denomination just
did. As an MD, I know that not all medical proposals meet merit of the
sacredness attached to the profession. For instance, Euthanasia as it is been
proposed in some quarters is unaccepted. And the same way I think not all of
the Sanusi-led CBN cabinet proposals are healthy particularly for a country
like ours. Big economic theories have oftentimes only succeeded inside big (text)
books and nothing more. Not even the economic principles in those books that
were read and been read by Sanusi, Ngozi and co could save the global economic
crises. Economic principles could as well be individualized based on prevailing
principles and circumstances in the respective countries.
Sanusi and co might
convince Jonathan and his Economic Team on the “lopsided”, exaggerated and
ill-timed pluses of introducing the N5000 denomination while making N20 and
below into coins; they might succeed in painting it to appear as a forward move
earning them thumbs up, but time and time again will either justify or
invalidate every decision taken. The more they relegate to obscurity the
weighted demerits of this move, the more time and posterity will judge everyone
and everything.
For how long do we
continue to make ourselves blinded to or shy away from the truth that Nigeria
functions as a phenomenal complex system that has been made not to work or to function
improperly. The hit-track in a poverty album on the lips of Nigerians is “we
are hungry”, yet it is increasing currency denomination that tops the agenda of
the government and its actors like Sanusi. If you need to fix a part of a faulty
interdependent system, you may have to pay attention to other components of the
system. You are not doing enough to relieve poverty and you are adding a higher
currency denomination and yet still want to convince us it won’t cause
inflation in a country like Nigeria? Illogical and unrealistic!
Certainly, some rich
and powerful few might endorse this move because for many of them it implies
the avenue to steal more in fewer Ghana-must-go. During the fuel subsidy
uprising, this same government led by Jonathan, Ngozi and Sanusi defended their
move, but today we are faced with the true reality-subsidy thieves, many of
which are sons and daughters of the rich few.
Talking about the N5000
currency, Sanusi is the lead figure and governor of the CBN, but certainly he
is not the most learned in Nigeria with regards to economics, banking and
associated policies, theories and principles, and so it should never be taken
that whatever he does must always be taken for perfectness. His motives might
be good, pure and sincere, but he is not immuned from errors, either of commission
or omission. He might be a ‘mighty’ Economist/Banker, but he certainly can’t be
the ‘Almighty’, and so he is error-prone
Finally, I present my three-in-one
N5000 question to Malam Sanusi. Let Sanusi tell me where the coins are at
present. Let him tell me where the coins to come (N20 and below) will go later.
And let him tell me how much a single packaged (pure) water would be sold. I do
not blame Jonathan, Sanusi, and co; they don’t understand what I am talking
about. They obviously do not know that there are people out there in the
villages and everywhere who live on less than One (1) dollar per day, which by
definition is extreme poverty.
We have seen the
palliative measures of Jonathan through the buses he provided following the
removal of fuel subsidy; in fact, the palliative measures are there in all the
villages and towns of Nigeria, even spilling into neighbouring countries (*sarcastically*).
So, we equally await the palliative measure of Sanusi when the cost of Packaged
(Pure) Water rises from N5 to N50 with the emergence and subsequent undeniable
potential extinction of the coins.
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