It saddens me to still have PMB hold on to known appointees/ loyalist of the previous administration in key and sensitive positions in this Government.
Over 80% of the top executives in the MDA's are known appointees of the last administration. While a few merited the positions, greater percentage where appointed to (use a local parlance), "come and chop".
Sensitive positions like the CBN is headed by a well known "friend" and loyalist of the last administration. Most of the Directors are well known loyalist of the last administration.
These guys can only feed PMB what they want him to know. Obviously they intuitively will not want PMB to succeed. PMB did not make pretence about this when he stated at a fora, when asked about the downward spiraling of the value of Naira against the Dollar, that Directors in the CBN own most BDC's who engage in currency round tripping and speculation.
We are now in a recession due to multiplicity of complex situations and events. Poor crude prices and sales, less FDI inflow, rising inflation, and poor revenue receipts from exports have worsened the situation in the country. Handling of affairs by the current CBN cannot be whisked away as a contributing factor.
As it is now, all the tiers of Government are existing only to pay salaries of public servants, which constitute less than 5% of the nations population.
The pertinent question to ask is, why is PMB holding on to these" cartel "
in the CBN? In the last Presidential Media Chat, PMB told the nation that the last President directed the CBN governor to release 40B Naira to the then NSA for no known and documented purposes. For the President to say this giving his vintage position of receiving intelligence and key information daily, shows that he is well aware of the misdeeds carried out with the CBN Governor as co-conspirator.
Why hold on to these moles who obviously wine and dine with "yesterdays men and women", (apologies to Ruben Abbati), whose actions and inactions led us to this deep pit of mess we are in today?
Why hold on to these cabal, who derive pleasure intuitively to see your good intentions not come to fruition?
Why hold on to these people whose interest is to turn the applecart so that "change the change" will come to pass?
Feelers coming in from the last CBN's MPC meeting suggest a further devaluation of the naira. This will translate to further downward spiral of the Naira against the Dollar. If we take the petroleum sector for example, marketers will have to pay more for forex, which will snowball into higher cost of imports. To cover cost, pump prices will have to increase. The vicious cycle starts again.
In general, inflation will increase, infrastructure deficit cannot be bridged because of higher cost of projects. Without infrastructure, FDI will not flow. Higher cost of living will lead to higher wage demand, which I doubt if the Government can accommodate. Unemployment, poverty and crime will increase. There will be general hopelessness amongst the population.
Its about time to get rid of these moles in the various MDA's especially in the CBN, and bring others with patriotism and vigor to get us out of the woods.
The herculean problems of this nation can never be solved by holding on to those who caused the problems in the first instance. Not when they are never loyal and nor believe in the course of this administration.
There are thousands of capable individuals driven by patriotism, who have the requisite knowledge to proffer solutions to the complex problems that can, God Wiling, get us out of the doldrums towards prosperity.
What we are facing now is continuity, not change, especially when, as I have earlier stated, the Government is holding onto more than 80% of the executives of the MDA's appointed by the previous administration and whose loyalty clearly is where it used to be.
I don't want to sound pessimistic, but PMB has to rid his administration of these moles for him to succeed.
God Bless Nigeria.
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