We recently wrote a piece on how there are only two tribes in Nigeria: the elites (Super rich) and the masses (Poor Nigerians). This undeniable fact was also reiterated in a recent news that stated that only 350 Nigerians (out of the over 180million Nigerians), are responsible for more than 80 per cent of the N5.4 trillion debt portfolio of the Asset Management Corporation of Nigeria (AMCON).
This was made known to the Nigerian public by the Managing Director/Chief Executive Officer of AMCON, Ahmed Kuru, who noted that the 350 Nigerians or their businesses, owe a whopping N4.3 trillion of the N5.4 trillion debt profile of the company, an amount which is over 50 per cent of the 2018 Budget of Nigeria.
By this, what AMCON is trying to tell Nigerians is that only 350 Nigerians borrowed N5.4trillion from banks, which they could not pay back and now, AMCON came in to buy up those debts in other to save the Commercial banks from collapsing. Let us be reminded that the 2018 Capital Budget is N2.4 trillion, while the Recurrent Budget is N3.4 trillion. Add both Capital and Recurrent votes and you will get N5.8 trillion. Yet, just 350 Nigerians, out of close to 200 million of us, borrowed that same amount, and they refused to pay.
However, according to the AMCON boss, there is no way AMCON or Nigeria is going to write off the more than N5.4 trillion debts sitting on the balance sheet of the Central Bank of Nigeria (CBN). Mr Kuru said that the only way to get those evading their paybacks was to use the instrument of law. He, however, noted that the Nigerian Judicial System was a major challenge to the operations of AMCON.
In his words, “I can tell you that today, our major challenge has to do with the judicial process. In other climes, what they do is that they allow AMCON to own the assets ab-initio, which means I have paid for the loans from the commercial banks, I have taken over the loan and I will take it over with the assets so I can sell the assets from day one. But here, somebody can decide to take you to court and he has to be heard. He can lock you up with judicial processes and technicalities for 10 years, 15 years or even 20 years.
If we can have a system where rightly or wrongly we can conclude a case within three months, we can finish our assignments and go. The most fundamental thing is that this money must be recovered whether they like it or not. So, it is either they come to us and we negotiate, and have a payment plan, or we take over your asset that is what the law says, it has nothing to do with AMCON,” he said. Mr. Kuru regretted that most times, even when the obligors come and negotiate a payment pattern, they end up not paying at all.
The problem we have with this picture is that it is never in the favour of the Nigerian poor masses, especially when it comes to getting little loans from Banks to do any legitimate business. In a related recent post, someone noted that AMCON, allegedly pointed out that, “out of the millions of BVN numbers with Commercial Banks, only 100 BVNs collect 60% of bank lendings. And this has left the Banks with 13,000 bad loans worth trillions borrowed by “Nigerian big men” who are now not wanting to pay back. Yet same banks will give no loans to the poor.” With this, you all would then understand what we meant when we say there is a conspiracy of the rich against the poor in this country, the above development is a clear evidence and that this conspiracy is not a theory. We can then see that the real lines are divided between us and them.
The wall holding us back is between the rich and the poor – not between PDP and the APC. Not between Christians and Muslims. Not between Igbos, Yorubas or Hausas, or the other ethnic groups. That means tribalism and religion are artificial problems created by selfish leaders for their own personal interest. In other words, there are only two major tribes in Nigeria. The Elites and the Masses. Once you make lots of money (especially from stolen public funds), you belong to the ‘elite tribe’. When you are a commoner, suffering or struggling daily to make-ends-meet, you belong to the tribe of the masses. If you are an elite, and you need more power, or elective position, you sow seeds of tribalism and religion among the masses, so as to sway their emotion for your personal victory. This happens at both the national and State level. Unfortunately, after the election when they have won and joined their “sworn enemies” to drink and party, the gullible masses continue to fight each other.
Even smart people who belong to the masses, sometimes will sow seeds of tribalism and religion among the masses, and then the masses will carry them up until they belong to the elite class. It is a classic strategy used over 3000 years ago in the art of war. That means, a commoner who aspires to sit with the elites, could stir up powerful tribal or religious sentiments, such wave if properly utilized either by shedding blood or destabilizing the elites, carries the commoner to the elite class. But once there, he immediately mingles and makes peace with the elite tribe and turn his back on the same masses that helped him get there. Youths are the worst victim of this powerplay, they kill each other, call other tribes unprintable names, do terrible things and sometimes, even lose their life, thinking they are fighting for their right, not knowing that they are fighting for the personal welfare of someone, whose own children are probably safe in different parts of the developed countries abroad. The saddest part is that they are not using the nation’s wealth, which they stole, for the development of the youths in their tribe, and on the Nigerian general masses.
Obviously, the super-rich are known to use these monies they have refused to pay back to the banks, to buy executive private jets, sponsor themselves and their loyalists to the Legislative and Executive Arms of Government, buy/build mansion/castles in all major cities across the world, travel regularly with their families on tourism to different parts of the world, buy the latest cars in the world, some of which they do not even drive/enter in to go anywhere in over a year. Such cars are usually parked idling-away and covered with tarpaulin in their garages/carports. And often times, once any government that is in power is against them, they use every available means possible and money to sponsor politicians that will try and sabotage that government or sponsor criminals as well to try and cause havoc that will make things difficult of the said government to govern as expected.
Yet, behind their evil schemes and dubious lives they are living, they still go to church every now and then to give one lavish Thanksgiving or the other. Seriously, the majority of Nigerians in the lower class should shine their eyes. They should not always fall for this tribal, religious sentiments over and over again. Nigeria is bigger than these corrupt elites/big men. They are the problem, not the poor masses.