Date Published: 08/26/09

Dear Editor,

Today for bankers, tomorrow for governors

We have been reading the happenings with the bankers who have taken Nigerian economy for a ride all these years and now seem to have met waterloos; courtesy of the courageous former colleagues of theirs, now the CBN governor, Mr. Sanusi Lamido Sanusi. One never imagined that the banking system in Nigeria was so stinking to the extent being revealed. It is really a great pity.

If this has remained the case with the financial, and in essence the economic engine house of the nation, then you imagine what is on with the operators of Nigerian governments. This is in view of the fact that we all know how brazening the chief executives of governments at various levels, especially the sitting governors, are looting the respective treasuries.  Regarding what has now befallen the bankers, those in governments would in future taste the pie. There is no avoiding the situation; the previous ones are lucky.

We have heard of how a state governor consumed more than N200billion in two years on roads, with nothing near actual quarter of that figure in works, to show for it(?); another one spent N53billion on school desks and chairs; while yet another spent about N1.2billion hosting one-day visit of the president to the State, etc. Tomorrow will give opportunities for real accounting when the immunity cover would have veiled off them and resulting in just what the bankers are today facing. 

Dr. Edet Iniodu

4 Oak Hill Boulevard

Ontario, Canada

edetiniodu@yahoo.com