TAN =Thieves Among Nigerians: Tunde Ayeni, leading other donors, gave N2 billion on behalf of himself and his unnamed “partner” and “friends.” Jerry Gana, a permanent fixture in successive governments, announced N5 billion on behalf of his equally mysterious friends and “associates in the power sector.” Not to be outdone, oil and gas sector “friends” also pledged N5 billion; real estate and building sector, N4 billion; transport and aviation sector, N1 billion; food and agriculture, N500 million; power, N500 million; construction, N310 million; road construction, N250 million; National Automotive Association, N450 million; and Shelter Development Limited, N250 million. Going by the Electoral Act, which caps the donation an individual could make at N1 million, 5,000 donors must have been behind Gana’s N5 billion gift. There is no doubting the fact that these donations raise salient questions verging on transparency. At a period when the government should be taking interest in enforcing compliance with the money laundering laws, people should not come out to announce donations on behalf of themselves and their “friends,” without actually naming those “friends.” It should also be of interest to know if those donors and their anonymous “friends” have complied with appropriate tax obligations. International best practices stipulate this as the minimum irreducible requirement. Many Nigerians will also be interested in knowing how the Board of the Niger Delta Development Commission, which was credited with producing N15 million, came about its donation. As a government agency, where did it derive such powers to donate to a political party from? Having done this for the PDP presidential campaign, will the commission also make a similar amount available to other parties? As for the sectoral donors, there is also the need for total disclosure. Who were the actors in the oil and gas sector that donated N5 billion? If they are publicly quoted companies, did they get the approval of their shareholders before going on the spending spree? How did the power sector that has not been able to muster enough funds come about a N500 million donation? With the automobile industry donating N450 million, it is no longer surprising that it benefited so much from the government’s controversial waivers. Ayeni, a legal practitioner whose consortium recently acquired NITEL and Mtel, is also the chairman of Skye Bank Plc and a director in the Ibadan Electricity Development Company. Given that these big time sectoral players have suddenly become the big donors to the President’s campaign, what is the guarantee that regulators would be able to control them? It is little wonder that the government, after selling the power sector to private operators, is still interested in arranging a N213 billion bailout for them. So, except the players in the various sectors donated their own money, they have brazenly violated the law if they did so on behalf of their companies. The relevant authorities should demand their tax returns. As of 2010, domestic airlines collectively owed banks and regulators over N300 billion. To say the least, this is another outrageous example of brazen impunity in government. Indeed, a string of ugly scandals has dotted the Jonathan administration. Among the most unsettling cases is the N2.53 trillion paid out in 2011 as petrol subsidies to cronies and “ghost” businessmen when the National Assembly approved only N245 billion that year. We also recollect the mind-numbing loss to the national treasury of some questionable waivers that cost the country N64 billion in first six months of the year. Funds that disappeared from the public till can now find their way back as campaign donations. There is also the unresolved issue of missing billions of dollars at the state-owned oil company.The Companies and Allied Matters Act also expressly forbids companies in Section 38 (2) from funding or donating gifts, property or money to any political party.Then the Electoral Act 2010, as amended, specifies in Section 91 (2) that “the maximum election expenses to be incurred by a candidate at a presidential election shall be N1 billion.”The minister of finance and the Coordinator of Nigerian economy has denied severally that the country is not broke,yet many federal civil servants have not been paid for the past three months. yes we are not broke but the money is not kept and spent appropriately.
Posted on: Tue, 23 Dec 2014 08:32:47 +0000
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