Dear All:
QUOTE
General Buhari said investigations by the CPC revealed that the nation's external reserves "which stood at about $64billion, when Yaradua/Jonathan were sworn in now stands at about $30billion; our foreign debt which was reduced by the OBJ's regime from $37.5billion to $3.5billion is now back to over $30billion; and our excess crude which stood at about $20billion is now less than $1billion. Also our domestic debt is over N3.5trillion with our local contractors' at the receiving end.
UNQUOTE
QUOTE
The former Vice President (Atiku) said the recent release by the Central Bank of Nigeria that the nation's foreign reserves fell by a whopping 15 percent from $40.75billion to $34.57bn within a year confirms his earlier warning that the government needs to devote more attention to the economy....Finally, Atiku expressed fears that the federal government has returned Nigeria into the list of major debtor nations. He said latest report that Nigeria's external debt has risen to N25.8billion is another evidence that the economy deserves a better manager......
He quoted Veronica Kalema, who signed the statement on behalf of the Sovereign rating agency that "there is no clear legal basis to determine how excess crude account funds should be shared between the federal, state and local governments and the savings have fallen to less than $500 million from $20 billion in 2007 amid political wrangling."
UNQUOTE
These are serious allegations. If the above is true within less than a four-year period, then some depositions are needed of some of our officials:
- the Finance Minister Aganga
- the Central Bank Director Sanusi Lamido Sanusi
- the President Goodluck Jonathan.
- the Debt Management Office
about:
- our external reserves: May 2007 and November 2010
- our foreign debt*, May 2007 and November 2010
- our excess crude account, May 2007 and November 2010
- our local debt, May 2007 and November 2010
As simple as that - no name calling, no campaign rhetoric!
Bolaji Aluko
* I always worried that paying back our debt when we did would not give us relief, because we would be RIGHT BACK where we were without disciplined leadership. If the new level of debt is true, we are not even into the sixth year yet when we were supposed to get the full relief.
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