Corruption Kills: World Bank Loan Portfolio to Nigeria now U.S.$4.8 Billion

by Eze Eluchie

If you owned a bank, will you loan money to an entity that you know does not really need the money and is neck deep in fraud? No!

Unless, there are 'strings attached' and you are really not loaning out any funds but merely signing documents to ensure that whilst the entity’s descendants are perpetually indebted, the entire team 'packaging' the 'loan' scam, privately rake in millions in 'consultancy fees' and other bogus payments.

In the interim, resulting from the 'disappearance' of the loaned funds from the World Bank, our maternal mortality rate remains one of the worst globally; we continue to bury millions of our under-5 children who die of preventable causes; our power sector remains epileptic; our youths remain uneducated, unemployable and hopeless.

The continued penchant of the World Bank to dish out loans to the Nigerian contraption knowing full well that Nigeria does not need to borrow such monies and that the kleptocrats holding sway over Nigeria will merely steal the monies and dump same back into offshore bank vaults is most wicked!

Knowing how pure our maximum ruler, Jonathan and his governors are; and knowing how mercurial our Finance Minister is; and realizing that our Central Bank Governor is the Central Banker of the Millennium: I will bet that some smart alecs ruling over us and some World Bank staffers involved with the Nigeria Country Portfolio are all US $ multi-millionaires!

I verily believe that the World Bank is seriously being short-changed and should rise up to the occasion and cleanse its activities in Nigeria.

Corruption kills!
Large-scale Corruption is a crime against humanity; corruption compares with mass murders, rape and other crimes against humanity!




Pix: The World Bank Headquarters building and logo

Corruption is stiffling

by Eze Eluchie

"Consider two children—one born in sub-Saharan Africa and the other in the United States. The African child is twenty-five times more likely to die in the first five years of life; if she lives to child-bearing age, she is two hundred times more likely to die in labor; and overall, she will die thirty years earlier than the American child".
- Lawrence O. Gostin

Mismanagement and corrupt leadership is costing us far much more than our worst nightmares could have envisioned.

The world is fast leaving the African continent behind. Lets make haste and join the rest of civilization in its march forward!

In addition to destroying the present, corruption is also serving to ensure that our collective future will be bleak.



Picture: Professor Lawrence O. Gostin, Georgetown University.

New Year felicitations

In the New Year, I wish all life.
Not merely life as in inhaling and exhaling, that will be too petty, as even all animals and plants perform this extraordinary task. Rather life as in:
care for our neighbors,
an abhorrence for injustice,
a distaste for greed and avarice,
a continuing quest for truth and knowledge,
a willingness to sacrifice for general well-being
For without the foregoing, one might as well not be alive.
I wish all life.