06 May 2009 |
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ANAMBRA: THE 350 MILLION NAIRA QUESTION One of the greatest tragedies that have befallen Anambra State is the rulership of the state by a trader, an Anambra trader for that matter. There is no gainsaying that the Anambra trader, economically speaking is a good trader. Indeed, the average Anambra trader, no matter the size of his capital or the brand of goods he trades in is an accomplished economic strategist. He trusts his money in no man’s hand. He dreads partnerships, not because he is homophobic but he understands the central importance of good, swift and decisive decisions in the ancient art of growing money. Although two heads are said to be better than one, the shrewd Anambra trader understands that the other head could as well be a mortal distraction. The Anambra trader understands that money is spirit; and indeed like methylated spirit, could evaporate into thin air if not properly handled. The thrifty Anambra trader suffers no joke with his money, and monitors his investment with ascetic alacrity and stone face seriousness. When it comes to money, his hunches are always correct and his financial wizardry is respected far beyond the shores of Africa. He knows when, how and where to invest his money. But for the recent abracadabra of the Nigerian Stock Exchange, that produced magical figures which grew and grew much more magically in geometric progression, the astute Anambra trader has always held the stock exchange in perpetual disdain. Like fellow trade wizards of Ancient Babylon of perpetual lore, the Anambra trader knows that your money can never be safe in someone else’s hands. Those of them who, hoodwinked by that later day fad, disregarded the ancient wisdom and invested their painstakingly earned money in the Nigeria Stock Exchange, now have their multimillion naira wounds to lick. From Onitsha to Nkpor, from Ogidi to Nnewi; from Main Market to Ogbete Market, the average Anambra trader knows that the safest place to put his money are in goods securely stocked in his shop. If the price goes high, he is on top of an elephant; if the price goes down, he takes solace in the ancient truism that unlike Nigerian stocks and shares fallen goods must surely rise again. If he goes to the bank, he does so as a reluctant discipline he has to undergo because of the crass insecurity in the land. But thanks to Chukwuma Soludo, the good banks are building branches in the markets (the good prof obviously understands the needs of his people!). But when you see the Anambra trader constantly patronising the banks, check out – he is looking for a facility! For sure, like the banks he knows what to do with money – make more money with money! So head or tail, it is agreed that the Anambra trader knows what to do with money. So why should an Anambra trader put money to fallow in the bank? Did Anambra State lodge interest bearing billions in the bank? If so, to whom were the interests paid, to the state or to an individual? On whose interest were the monies lodged, the state’s or an individual’s? How useful were those lodgements to a bank? Did a bank desperately need them to cushion off post consolidation trauma? We know that when money is given to a bank, it is in turn given to those who do business with them on interests. From the interests earned by the bank, the bank pays a fraction to the person who made the lodgements. That is of course, after netting its profits and deducting all manner of service charges. So, in which banks did Anambra State lodge these monies; who owned these banks; who brokered these deals; above all, who went to the said banks and accessed these billions? Remember, the Anambra trader knows what to do with money – make more money with money. This is the 350 million naira question. Yes, 350 million naira per month! The greatest evil the monetisation of Anambra State has caused is materialistic ethical reductionism that has dominated our culture. The commercialisation of values. In today’s Anambra State, most things if not everything has been reduced to a common denominator – money! In today’s Anambra, it seems money rules. The society places so much premium on it. In the country, there is no youth under as much pressure to make money as the Anambra youth. This points to a compulsive cultural love for money. The elders said it started after the Civil War. After the uncivilly fought Civil War, every Igboman was settled with paltry 20 pounds regardless of what he had in the banks. The farmlands had been devastated and investments east of the Niger had been destroyed during the thirty month arguably avoidable internecine war. The investments left across the Niger by the fleeing Ndigbo, were confiscated via the obnoxious abandoned property decree of the inept government of General Yakubu Gowon. How one could possibly abandon his property in his own country defies all known logic. This is an issue that should be revisited by Ndigbo, any day they pay a little more attention to history than money. After, the quest for the biological annihilation failed, it was a case of economic annihilation. That Ndigbo made a rebound after this supreme evil is a living testimony of the un-put-downability of the Igbo spirit. So came about the mad rush for money as a value in itself! When the seminal prof, Chinua Achebe wrote Things Fall Apart, he thought that the world of his ancestors, the Okonkwos had fallen apart, little did he know that barely nine years after, his own world would fall apart. Alas, things tore apart in 1967 and fell to pieces in 1970! After Things Fall Apart, indeed, Other Things Fell Apart!(Let an author take the clue) His Excellency, Mr. Peter Gregory Onwubuasi Obi, Okwute Ndigbo, no doubt is a successful trader. He, indeed is a true Anambra trader, immensely successful and immensely resourceful.’ Without an inheritance’ he stepped into the turbulent waters that Nigerian business world has become after years cumulative maladministration by perpetually inebriated insouciant leaders; and made it resoundingly. No mean feat at all. Though, there are tales here and there, (of course, people will always talk)the fact still remains that he is an astute trader. Like an accomplished Anambra trader, he could sniff out a good investment even from far away London. So when in 2002, the opportunity to invest in MTN came, he knew it was a good investment, but being an astute trader, he saw a still better investment in 2003 Anambra governorship. Thus, he wisely invested his cash in the rulership of Anambra State. Like a true Anambra trader, he saw gold where others saw gutter. For gold, he went. Even when his wife doubted the wisdom of that investment, as an Anambra trader he already knew as aforementioned that although two heads are better than one, the other head could be a mortal distraction. Ask the Dangotes, ask the Otedolas; ask Ibeto, Ibrahim Jimoh has his own tales; Adenuga has a mouthful: in Nigeria, you do not chicken out of business because there is a problem. To the persistently insistent, belong victory. Like a dogged fighter, he fought hard to reclaim his investment. There is something universally admirable in the Anambra trader: he is long suffering. When most people from other tribes would not contemplate business if they hadn’t sufficient capital, the Anambra trader would start trading with pennies, and painstakingly build up his capital even if this takes decades to do. Mr. Peter Obi was truly admirable in his titanic battle to reclaim his mandate which is his investment. Like a thoroughly drilled Anambra trader, he never said ‘die’. Magically, the PDP thoroughly duped by a godson surrendered its loot in 2003. The deals and negotiations behind that eponymous event are all ingredients of politics. The good thing is that His Excellency, Mr. Peter Obi miraculously saved his investment, an intended MTN cash which was invested in the rulership of Anambra State. So the great evil that befell Anambra is that a trader, particularly an Anambra trader became its governor. The problem with compulsive traders is that they have their first allegiance with money. So in Peter Obi’s Anambra, the constant refrain is to save money. Saving money here does not mean increasing efficiency but making available, more money to be banked. To be banked of course, in Fidelity Bank (don’t forget that the last job he held before the rulership of Anambra State was the chairmanship of Fidelity Bank). What banks do with money banked with them and why they so desperately want the monies banked with them are already well known to you and I. So in Peter Obi’s Anambra, asphalting roads is not an investment. Saving the almost crumbled education system, especially at the primary level is no investment at all. Why should scarce money be wasted employing lazy Anambra graduates? When their mates are hustling at the Onitsha Main Market, they are busy tucking in white shirts and knotting ties – a lazy bunch. They should go to the UNN and check out his history. He started hustling from his year one. Why should they think that book knowledge is important? Even while in the university, he distinguished himself as a successful trader. Even if he missed his lectures and in the process and failed to assimilate his lessons, it is not important. The important thing is that he came out with his certificate, and above all he has made money; which is the very essence of the average Anambra trader’s life. After, his graduation, unlike lazy Anambra graduates, he did not go about carrying files looking for somebody to work for. ‘Without an inheritance’ he went to Lagos and made a successful trader of himself. Why should Anambra graduates fail to emulate his glorious example? They should keep on wasting their wretched lives. As for money, he knows what to do with it – bank it. As for the civil servants, they are part of the unproductive bunch. Do they know how much interests that would accrue if their salaries were delayed for two months? Despite the fact that the payment of their salaries is reducing the useful monies in the banks, they have the effrontery to be demanding for increments, blue murder! Imagine the staff of Anambra State Water Corporation agitating that the gainfully banked 550 million naira be withdrawn for the settlement of the over two years arrears of salaries owed them. What do these wretches know about money? That is how Anambra State came to the 350 million naira question. The Anambra trader has come to his limits. He is a compulsive profit maker. Such term as selfless service is Greek to him. To use money to do anything other than make more money is supreme anathema unto him. Why? The only thing he knows to do with money is make more money. That is the very basis of his success. He does not mind owning a patched pair of shoes for life neither does he mind using a rickety 504 Peugeot saloon car outside of government house, even when he has substantial interests in the auto sector. Why spend money on non-profitable venture. Why give himself the treat of changing his pair of shoes when there are lucrative investments to channel eternally scarce money? The problem with the trader is that he does not think beyond profit making. Has anybody pondered on why Anambra State is so irredeemably wretched despite the quantity of successful traders that hail from it. Most of them are fixated on naira and kobo. That is why the state has not fared well politically, socially and culturally. Life, within the confines of Anambra State is akin to the Hobbesian state of nature. But instead of addressing these multifarious anomalies, a government’s compulsive fixation is profitably banking our money. Where else could the state’s fabulous security votes be more secure if not in the bank? For sure, for obvious security reasons the best place to secure the security votes is in the banks! Has the president not written to tell the governor that Anambra is the safest spot in the country? The incessant kidnappings in the state take place only in the minds of mischievous journalists. The day by day armed robbery operations at Onitsha are merely James Bond and his crew rehearsing their movies. The aged thespian had relocated to Anambra State since March, 2006. So, Onitsha residents are enjoying the best live entertainments ever in the history of the 21st century! Why waste money on security, there are profitable things to do with money. Even when for strategic reasons, roads had to be built, they are awarded in mind bogging excess of what they were costed by the immediate past administration. And when they are eventually built, they are of such a paltry quality that one knowingly understands why contractors in Anambra State readily bring fat offerings to the head of the government. After all, the good holy benevolent Peter Obi has publicly admitted collecting bribes from contractors on behalf of the good people of Anambra State. So we return to the 2003 question, Anambra: are we cursed or is he the curse? Ebo Chigbo Socrates
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