CRISIS OF “COMPENSATION” IN NATIONAL ASSEMBLY: CBN IS RIGHT, LEGISLATORS ARE WRONG

May 18, 2011.

THE PROBLEM
The ongoing crisis in the House of Representatives over 10bn bank loan by the House leadership to ostensibly enable it settle unpaid salaries and allowances of House Members has conclusively proved that the Central Bank of Nigeria (CBN)’s Governor, Sanusi Lamido Sanusi was right when he earlier raised alarm about the indulgence and intolerable pay of the legislators and that 25% of the nation’s annual recurrent overhead was spent on lawmakers.

Whatever the eventual resolution of the recent financial scandal in the House, increasingly the greatest threat to Nigeria’s democracy is the seemingly exhibited greed and arbitrary self-help of public office holders especially the legislators.

HOUSE HYPOCRISY
The incoming lawmakers must look at bigger picture of Nigeria’s under-development and poverty not petty/selfish personal picture that preoccupied the outgoing Assembly.

It is hypocritical for some Members of the House to repeat a common knowledge that N5 million was too small for the slain Corps members.

It is sad however that they cannot see the linkage between their daily self-help through generous allowances and dwindling national scarce resources.  What is gulped by the legislators can certainly not be available to bury dead youth corpers, victims of violence and take care of their dependants.  Scarce resources arbitrarily appropriated by few political office holders will certainly not be available for mass job creation and industrial revival.

In any case what will prevent future criminal murder of youth corpers and indeed innocent citizens are good laws (which this Assembly is not known for) that create jobs, prevent crises and apprehend murderers.

TOO MANY FINANCIAL SCANDALS
The latest N10 billion loan scandal is one financial scandal too much for a 4-year tenure House.  When the history of the outgoing House is written, financial scandals would be credited to it than notable progressive legislations for good governance.

Additional N10bn for Bank of Industry (BOI) in particular will help strategic sectors to refinance their debt, recapitalise their operation and retool for operation.

Issa Aremu mni.
GENERAL SECRETARY/VICE PRESIDENT NLC