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Nairaland Forum / Nairaland / General / Politics / My Letter To IMF, World Bank & Africa Dev. Bank (ADB). Nnamdi Kanu (2840 Views)
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My Letter To IMF, World Bank & Africa Dev. Bank (ADB). Nnamdi Kanu by bukifemi1: 2:04pm On Apr 27, 2020 |
My letter to IMF, World Bank & Africa Dev. Bank (ADB) Dear Sirs Foreign Lenders Must Stop Lending To Nigeria Just before the COVID Pandemic struck, Nigeria was on the verge of taking a loan of almost $23 Billion from a complex mix of foreign lenders led by China. It was not complex by accident but by design and deception. Nigeria’s rogue rulers wanted the loan to be more acceptable to gullible Nigerians by tagging along respected international financial institutions like IMF and AfDB to a humongous Chinese loan that carried all the usual elements of corruption and usury that have many wise nations wary of Chinese loans. It’s noteworthy that the Indigenous People of Biafra (IPOB) was on the frontline of rallying a groundswell of opposition to the loan, especially because of its proposed expenditure plan that excluded the Southeast part of Nigeria - in flagrant breach of Nigeria’s Constitution. We were concerned that any foreign loan obtained in breach of the organic law of Nigeria would provoke a political/legal backlash that will complicate its repayment. And with the COVID pandemic contemporaneously diverting the attention of the world (including China), the loan seems to be on hold for now. That is well and good. But so soon after, Nigeria is at it again. This time, there are credible reports that it wants to take another loan from the IMF & AfDB. This is after the $2.2B it borrowed from the World Bank in February this year, which Nigeria falsely claimed was for ‘immunization and job creation’, when in fact the money was shared out to the regime's cronies in the Muslim North of Nigeria, including those that promote and enable Islamic terrorism against Christians, stretching from the Maghreb to the Gulf of Guinea. So, now the ruling Fulani cabal wants to borrow another $3.4B from IMF, $2.5Billion from World Bank and $1Billion from African Development Bank, should it be allowed to do so when we know very well that previous loans were grossly looted and otherwise spent in a manner that breached the Nigerian constitutional provisions on revenue allocation between the Central and State governments on the one hand, and the geopolitical regions of Nigeria, on the other. True to character, the treasonous Cabal ruling Nigeria in Buhari’s name has engaged in another brazen act of deception by falsely claiming that the new loans will be used to “fight COVID-19, and to assist the poor and small businesses”. Who takes loans to fight COVID? You don’t need loans to fight a pandemic, you instead need aid and global goodwill, and that’s what all countries in need have relied on throughout history. The pandemic is not permanent to the point of requiring loans. And for the vaunted ‘assistance to the poor and small businesses’, Nigerians are well aware that this never happens. The shady loot & burn Fulani Cabal has zero record of assisting small businesses and the poor. Its embarrassing and laughable distribution of raw cash in the market square, even with VP Osibanjo as the poster boy, was anything but helpful to small businesses. If you are still in doubt, just consider how the Nigerian poor has been totally abandoned to untold hardships since the Covid Lockdown began. So, for a Nigerian State that is verging on a vegetative state with all the uncertainties surrounding its presidency and its viability as a nation, foreign lenders will be taking quantum risks with any new loans to Nigeria. This is exacerbated by the rising prospects of breach brought by the significant drop in the price of oil, which in and of itself has made Nigeria’s shady leaders to look for new monies to loot. Loans are meant to be repaid. The lenders may mean well but Nigeria’s leaders don’t. They won’t pay back these loans and you can take that to the bank. Yours truly Mazi Nnamdi Kanu IPOB Leader European Union StateDept AfricaUnion Internationalmonetaryfundimf WorldBank 1 Like
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Re: My Letter To IMF, World Bank & Africa Dev. Bank (ADB). Nnamdi Kanu by budaatum: 2:12pm On Apr 27, 2020 |
Who takes loans to fight COVID? You don’t need loans to fight a pandemic, you instead need aid and global goodwill, and that’s what all countries in need have relied on throughout history.This idiot needs to go check how much debt America, UK and all of Europe are incurring to fight Covid-19, and he needs to understand that whether you pay back debt or not depends on the borrower and not on the lender. But if you do happen to agree with him that Nigeria should not be lent any money, just consider the drop in Nigeria's revenues and ask how government would pay wages and fund other expenses and who would suffer if they don't. 3 Likes 1 Share |
Re: My Letter To IMF, World Bank & Africa Dev. Bank (ADB). Nnamdi Kanu by Kamani8: 2:23pm On Apr 27, 2020 |
budaatum: Nigerians always quick to use America as example when it comes to defending their corrupt leaders and their indefensible corruption. One thing for sure America and nigeria have in common is loans and to see a nigerian defending such loan is just so embarrassing. Same America has every infrastructure you can ever think of. America just shared equivalent of millions of naira to families in this pandemic. What did you get from nigeria? And u keep defending nigeria taking out more loans because america took loans. Look at the level of hunger in nigeria in this lockdown even companies cannot transport food in peace again before hungry mobs steal them all in koro koro daylight. Jeez 21 Likes 2 Shares |
Re: My Letter To IMF, World Bank & Africa Dev. Bank (ADB). Nnamdi Kanu by Piggyyeasters(f): 2:28pm On Apr 27, 2020 |
Can dead terrorist write letter from the grave? 2 Likes 1 Share |
Re: My Letter To IMF, World Bank & Africa Dev. Bank (ADB). Nnamdi Kanu by budaatum: 2:40pm On Apr 27, 2020 |
Kamani8:Absolutely nothing, though some say they got some rice, but funny that you are "quick to use America as example". Do you know how much America incurred in debt in order to "share equivalent of millions of naira to families in this pandemic"? Go on, do the research, and let us know how much it is in Naira. Then let me know if you want to, or even can share, what America is sharing to families in this pandemic. 3 Likes 1 Share |
Re: My Letter To IMF, World Bank & Africa Dev. Bank (ADB). Nnamdi Kanu by Guide777(m): 2:44pm On Apr 27, 2020 |
So dude is alive? 2 Likes 2 Shares |
Re: My Letter To IMF, World Bank & Africa Dev. Bank (ADB). Nnamdi Kanu by shadeyinka(m): 2:48pm On Apr 27, 2020 |
budaatum:My dear Buda, I think the OP and I know Nigeria far much more than you. I may not agree fully with the ethnic or religious sentiments therein. However, shouldn't we learn from history. Nigeria has been taking loans from the 80's till now mostly in the name of infrastructure and poverty alleviation? How much success have we made in the utilisation of the loans? If the present government take a loan, what do you think is the probability between 0-100% that the loan will be judiciously utilized. How come with the massive amount of oil we have in Nigeria, we seem not to be able to weather through a few years of bad international oil market. What happened to all our savings? What did we do with all we have amassed in dollars over the years? Buda, how come OBJ facilitated a debt forgiveness from our Big creditors but now, we are deep in debt again? Are you sure our strategies for spending money has changed? If the strategies haven't changed, how can you guarantee a different outcome? Our governments strategy seems to be that each government tries to borrow as much as the could so that the money can be shared amongst they and their friends and cronies: the posterity can borrow theirs when it's their turn. You have stayed too far from home that's probably why you can't see properly. BTW: I don't like Mazi Nnamdi Kanu the IPOB Leader one bit and I do not see the breakup of Nigeria as a solution to our economic and political woes. So many questions I have asked! I wish the debt was INTERNALLY incurred but what do you expect from a Prodigious Country that desires a LOAN? By the way, there is a world of a difference between Nigeria and USA. USA has working Systems of Governance: Nigeria does NOT! USA has working Infrastructures: Nigeria does NOT! USA has an industrial and manufacturing Infrastructures: Nigeria does not! USA has a fairly robust check and balances in terms of Law and it's Enforcement: Nigeria does NOT! 8 Likes 1 Share |
Re: My Letter To IMF, World Bank & Africa Dev. Bank (ADB). Nnamdi Kanu by Olunmercy56(f): 2:51pm On Apr 27, 2020 |
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Re: My Letter To IMF, World Bank & Africa Dev. Bank (ADB). Nnamdi Kanu by budaatum: 3:20pm On Apr 27, 2020 |
shadeyinka:A lot! You should see how much progress we would have made without it! shadeyinka:I can't answer that and neither can you unless we want to make up crap in our heads. shadeyinka:2 billion barrels a day is "massive"? I wonder what you'd call 10 billion barrels a day Russia and Saudi Arabia and even America, who are taking on billions of dollars more in loans than Nigeria can dream of incurring? shadeyinka:Guess you "don't know Nigeria far much more than you" claim, after all. If you did, you'd know that with the low revenue of Nigeria from exports and tax, Nigeria will always have to borrow money and be in debt, and moreso when the price of oil is as low as it currently is. And in fact, all countries have debts. shadeyinka:This is the belief of many Nigerians, but it is based on the ignorant assumption that the lenders also don't care about their money too. Perhaps learn about defaulting Argentina so you can be better informed. The state of Mississippi is still being punished for defaulting on $7 Million worth of bonds In 1841. shadeyinka:This is a good question, and the answer is, no, our strategy hasn't changed. But how could it, when the majority of the electorate think 2 million barrels of oil a day is massive, and don't know Nigeria is poor? If we want a different outcome we will have to evolve our thinking and assumptions. As to the rest of your diatribe, I wonder why you'd expect a country with a couple of decades of democracy to have developed democratic institutions similar to a country that's been at it for a couple of hundreds years. Unfortunately, such thinking makes many feel they should be reaping what America reaps despite having not done what America has done to reap what it is reaping, and if those assumptions are not abandoned and our strategy changed, we will continue to reap whatever it is we currently reap, as little as it is, until we decide to evolve our thinking. 2 Likes 1 Share |
Re: My Letter To IMF, World Bank & Africa Dev. Bank (ADB). Nnamdi Kanu by Clagold: 3:58pm On Apr 27, 2020 |
You are the one dead and a terrorist]Can dead terrorist write letter from the grave? [/quote] 1 Like |
Re: My Letter To IMF, World Bank & Africa Dev. Bank (ADB). Nnamdi Kanu by budaatum: 4:17pm On Apr 27, 2020 |
shadeyinka:You should tell that to my village people and my bank account! 1 Like 1 Share |
Re: My Letter To IMF, World Bank & Africa Dev. Bank (ADB). Nnamdi Kanu by sammyj: 4:18pm On Apr 27, 2020 |
Letter from the dead!!! ![]() ![]() ![]() 2 Likes 1 Share |
Re: My Letter To IMF, World Bank & Africa Dev. Bank (ADB). Nnamdi Kanu by shadeyinka(m): 4:34pm On Apr 27, 2020 |
budaatum:Then we need to define what we mean by infrastructure: Power Rail Road Basic Industry (Glass, Plastic, Steel, Chemical, Petrochemical, etc) Steel None ferrous metal industries Which one do you think can be classed as relatively Okay? If we have any of this at pass mark, your "progress" will make sense budaatum:It is easy to do. I asked for a probability not an exact figure. I asked for what you think: anyone can have a truthful opinion. budaatum:It is when you compare it with what such income can do for 360days at almost 40years. It is massive my dear budaatum:There was a time the price of oil was above $150 per barrel. What have we done with it. Goodluck, IBB, Abdusalam were all civil servants till they entered governance. They have no industry or companies yet they are all billionaires; How? Of course all countries have debts and patriots are saying NO to borrowing UNTIL the way we spend such monies are changed and revamped for the better. Don't forget that Cocoa House, First TV in Africa, Tallest Building in Africa, One of the first set of University in Africa wasn't done with Oil wealth. It was done with the labour of Nigerians not free money budaatum:You should know that EXPORT of raw materials is a curse and it is a trademark of underdevelopment of a nation. A country should ordinarily sell their Labour, Intellectual Properties, Technologies rather than raw materials. When raw materials are exported, they must NOT be used to fund consumables BUT to facilitate CAPACITY (industry and wealth creation capabilities). In the case of Nigeria, OIL is used to fund every manner of consumptions. If we are spending the monies judiciously, how come we have oil, we can't prospect for it, neither can we mine it, we can't even sell it without Shell, Mobil and the foreign oil companies. Till today our gas is flared while industry suffer lack of power AND less than 10% of the population use gas for cooking! Is this not gross misplacing and mismanagement? budaatum: The bolded shows why some of us say NO to more loans UNTIL 1. We change our thinking and perceptions of what to do with such loans 2. Since we haven't changed our current strategies for spending loans and oil money, we can't expect a difference in the outcomes: "white elephant projects". In other words, stop comparing Nigeria with America in terms of taking loans and amassing external debts. We are different and thus musnt take a loan we do not need. How come Nigerians don't pay tax? Is it the fault of the electorates? Does Nigeria know the exact address of any citizen? Even if government tries today to enforce tax payment, Nigerians don't trust their government to spend tax money on the needs of the general populace. |
Re: My Letter To IMF, World Bank & Africa Dev. Bank (ADB). Nnamdi Kanu by Amumaigwe: 4:34pm On Apr 27, 2020 |
budaatum: Which country borrows to pay wages? If they can no longer fund their overbloated civil service and monster-sized political officers' wages, they should scale down their number or expedite action to restructure or outrightly dissolve this country. Nonsense. 2 Likes |
Re: My Letter To IMF, World Bank & Africa Dev. Bank (ADB). Nnamdi Kanu by budaatum: 4:39pm On Apr 27, 2020 |
Amumaigwe:No one asked that money be borrowed to pay wages, though, with oil selling for so cheap we may not have much choice, unfortunately. As for that "overbloated civil service", when a former governor of my Osun State said the same and planned to reduce it, we stupidly refused to give him a second term and settled for half pay instead, which was paid every other month with no hope we'd be paid those they missed. 1 Like |
Re: My Letter To IMF, World Bank & Africa Dev. Bank (ADB). Nnamdi Kanu by Nobody: 4:42pm On Apr 27, 2020 |
budaatum: ![]() We must defend Nigerian govt by all means 1 Like |
Re: My Letter To IMF, World Bank & Africa Dev. Bank (ADB). Nnamdi Kanu by sapientia(m): 4:43pm On Apr 27, 2020 |
.we are simply finished |
Re: My Letter To IMF, World Bank & Africa Dev. Bank (ADB). Nnamdi Kanu by budaatum: 4:44pm On Apr 27, 2020 |
Amumaigwe:Almost every country borrows to pay wages. They have to while they await tax receipts at the end of the tax year and often they spend more that they receive. Its called deficit spending. 1 Like
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Re: My Letter To IMF, World Bank & Africa Dev. Bank (ADB). Nnamdi Kanu by budaatum: 4:53pm On Apr 27, 2020 |
shadeyinka:Good question. I'd say it's because we are incompetent and refuse to learn how for ourselves, and need these foreign gods (Shell, Mobil and the foreign oil companies) to come do it for us. I also think we get this attitude from our religions which teach us to look up to the heavens for manna to fall so we can eat instead of learning to make manna ourselves. A lack of responsibility, is what it is. The same attitude that makes many heap blame on government as if it was people from Mars who elected them. Odd thing is it is we who suffer from our ineptitude, and we who refuse to learn and grow and evolve and develop, and not Martians. Whether our money is spent judiciously or not is up to us, and I can only hope this is borne in mind at the next elections. |
Re: My Letter To IMF, World Bank & Africa Dev. Bank (ADB). Nnamdi Kanu by budaatum: 4:57pm On Apr 27, 2020 |
shadeyinka:Yes, it is the fault of the electorate that we do not pay tax! If we want to pay tax, we will elect those who would enforce its collection. But you tell me how we would react if someone said, "vote for me and I will make you pay tax", even if we are convinced that person would spend our tax judiciously. 1 Like |
Re: My Letter To IMF, World Bank & Africa Dev. Bank (ADB). Nnamdi Kanu by shadeyinka(m): 5:11pm On Apr 27, 2020 |
budaatum:No! No!! No!!! No one even in the developed countries love to pay tax. Everyone is trying to see how to pay minimum tax. It is the governments responsibility to make sure that personal income can be tracked and tax expected is computed and then sent as a bill to the taxpayer. The Nigerian government has made things worse by making the average citizenry POOR and thus not even "tax worthy"! Your politicians know that it is impossible to tax a dieing drowning man. Because of politix, they made sure that National Identification Number and citizen data cannot work No sir, it isn't the fault of the citizens who see the only benefit fro politicians as the N3500 incentive for voting during election time:this is what they've always known as the dividend of democracy. |
Re: My Letter To IMF, World Bank & Africa Dev. Bank (ADB). Nnamdi Kanu by budaatum: 5:17pm On Apr 27, 2020 |
shadeyinka:As I said, you speak as if Martians are our government or as if our government comes from Mars. Is it not true that our very own lack of a desire to pay tax is what makes us elect a government that can't collect tax? If we want things to work better in Nigeria, then perhaps we should become more responsible Nigerians instead of passing the buck to Martians. 1 Like |
Re: My Letter To IMF, World Bank & Africa Dev. Bank (ADB). Nnamdi Kanu by budaatum: 5:21pm On Apr 27, 2020 |
sassysure:Really? Sounds irresponsible, to me. Democracy might be one person one vote, but the responsible add their voices and opinions too, and the more responsible get off their asses and fight to get themselves or their representative elected so their own policies get implemented and not someone else's. 2 Likes |
Re: My Letter To IMF, World Bank & Africa Dev. Bank (ADB). Nnamdi Kanu by Corrinthians(m): 5:23pm On Apr 27, 2020 |
sammyj:The imposter is working in connivance with Emma Powerful who is at large to fleece the remaining dumb Igbos. Late Kanu is a focused young boy whose only passion was biafra. This imposter is an erratic noisemaker. 1 Like 1 Share |
Re: My Letter To IMF, World Bank & Africa Dev. Bank (ADB). Nnamdi Kanu by shadeyinka(m): 5:33pm On Apr 27, 2020 |
budaatum:I wish you didn't have to link it with religion BUT an inferiority complex. Africans have always seen the whites as demi-gods: and because of that assumed that they do not have the capacity to learn the knowledge of the white man. That's the difference between the Japanese or the Chinese and us. They are struggling to learn, copy, adapt what truely looks like the wonders of the white man. We are not making any such effort except to BUY the thing and start oppressing our neighbors with it. Do you have an idea of the average educational grade of our electorates? The answer will shock you: primary 4 at the best. In other words, the question you should ask is: Does the average electorate know what they want from their representatives? The answer is NO! Ask the average Nigerian what they want from the government. You'll hear things like "we want money to flow!". How? They don't care! They don't know the relationship between International Oil Price, Importations, Industrialization etc on the well being of everybody. So, when choosing a president, they don't focus on what the duties of the president should be: the focus on his tribe, his religion, his wealth, and political age The electorates problem is compounded with poverty. Nigeria is now the world's poverty capital thanks to our politicians. N3500 to them is more real than the "promises of the politicians" which by their EXPERIENCE is nothing! Those who know where Nigeria aught to be and know what we aught to do are minorities. Your politicians know this and that is why in Nigeria, Party MANIFESTOS doesn't count a hoot. Electoral debate don't mean anything. Should you still blame a blind man for his blindness? If education had been made Compulsory everywhere in Nigeria 40 years ago, probably we'll be saying a different thing now. The average core northerner doesn't have a preference for any politician other than the one that his Emir says they should vote for. Where then does intellectualism come in in the choice of a candidate? You can blame the politicians: why!? They have at least a minimum education and wealth to know what to do to heal this country and enough comfort to resist compromise! |
Re: My Letter To IMF, World Bank & Africa Dev. Bank (ADB). Nnamdi Kanu by shadeyinka(m): 5:48pm On Apr 27, 2020 |
budaatum:The blame goes to the Nigerian politicians not any Martian. They are rich, they are educated, they are well traveled, they know how it is in the developed world YET They keep the electorates down in lack of education and poverty! They amass riches to keep themselves in perpetual electoral power. Get the leadership right, the followings will conform. The followers are sick (poverty of education and money) and you still expect them to take the blame of bad leadership? One man changed China by his foundations Chairman Mao! One man changed Malaysia Mohammed Mahathir. One man changed Singapore Lee Kuan Yew. We will continue to talk, educate and do our part that the Father of Modern Nigeria will come out from amongst us in the future: armed with enough information to know how to lead and what to do as a progressive leader. |
Re: My Letter To IMF, World Bank & Africa Dev. Bank (ADB). Nnamdi Kanu by budaatum: 5:49pm On Apr 27, 2020 |
So, according to you, "Nigerians elect politicians with an average education level of primary 4", but it is not the fault of those who elect them? Trust me when I say, we never suffer reach, and the average level of the electorate itself must be much lower than primary 4. We are like blind people who elect the one eyed to rule over us and when we have two eyes we will see. As to my linking it to religion, you can wish as much as you want. I would have loved to say, "our philosophy", but unfortunately that is very religiously influenced, and will not change till we start using our brains and actually understand that even our religion states that [url=https://www.biblegateway.com/passage/?search=Genesis+3%3A19&version=NIV]By the sweat of our brow will we eat your food[/url], and we must [url=https://www.biblegateway.com/passage/?search=Genesis+3%3A19&version=NIV]Be fruitful and increase in number[/url]; fill the earth and subdue it, and rule over the fish in the sea and the birds in the sky and over every living creature that moves on the ground” and only then shall we be blessed, instead of our current waiting for blessings from heaven while we blame martians from the North like irresponsible people would. shadeyinka: 1 Like |
Re: My Letter To IMF, World Bank & Africa Dev. Bank (ADB). Nnamdi Kanu by budaatum: 5:58pm On Apr 27, 2020 |
shadeyinka:You show little knowledge of governance in thinking "One man changed" the nations you mentioned. Its the type of thinking one gets from reading headlines or getting one's reasoning from religion instead of studying history. If you studied history, and the books of religion, you'd know that despite the claim that "One man changed", many people were actually involved in making those nations ones you now envy, and even Jesus Christ stood on the shoulders of the giants who were before him and he needed disciples too. In a democracy, the people are responsible for electing those who rule them. And when we become responsible like the nations you mention and envy, instead of our current irresponsible attitude of passing the buck or waiting for "one man", we too will become like those countries. 1 Like |
Re: My Letter To IMF, World Bank & Africa Dev. Bank (ADB). Nnamdi Kanu by shadeyinka(m): 6:02pm On Apr 27, 2020 |
budaatum:Socrates say democracy is the worst form of government for an uneducated populace. An uneducated populace does not even understand that there is a problem in Governance nor the purpose of Governance. If he has to choose a million times, these would not be part of his factors. In a storm, you don't vote a man as the captain of your ship because he's a good man. You choose a man because you know that he is the most capable to guide the ship through the storm and get you safely back to shore. To choose your captain, you may not be an expert in ship navigation BUT you understand the nature of the problem, the complexity of the work and then you can select a captain based on his experience. You can't blame the blind for not seeing the light. After the blind is healed, he would not be guilty again. budaatum:Our forefathers exchanged human beings for umbrellas and mirrors and guns. They could have exchanged this same humans for knowhow! |
Re: My Letter To IMF, World Bank & Africa Dev. Bank (ADB). Nnamdi Kanu by shadeyinka(m): 6:06pm On Apr 27, 2020 |
budaatum:You blame the blind for not seeing the light! How could he have seen the light? Isn't lack of education a form of blindness? |
Re: My Letter To IMF, World Bank & Africa Dev. Bank (ADB). Nnamdi Kanu by DATACUG00000(m): 6:08pm On Apr 27, 2020 |
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Re: My Letter To IMF, World Bank & Africa Dev. Bank (ADB). Nnamdi Kanu by socialmediaman: 6:14pm On Apr 27, 2020 |
budaatum: Who in his right senses will agree to allow FG borrow money when it’s well known that the funds will be squandered and used to finance the extravagant lives of the politicians? In a very poor country like Nigeria, a governor is paid N2 billion Naira security vote monthly which he doesn’t account to anyone, yet he uses state money to fund security and the security personal are paid by FG. In a very poor country, a president can afford to spend billions on food and domestic welfare, while earning salary and receiving billions in allowances. In same poor country, house of assembly members earn multi millions for constituency development and allowances, when they earn salaries and have no business building constituency projects in their communities which have LG chairmen and state governors. Money they don’t account to anyone. To cap it all, the same poor country has its budget padded from multiple angles. Projects over 15 years old which were never executed keep appearing on the budget annually under “construction” and “maintenance”. By the way, $1 billion dollars was borrowed and injected twice to fight BH and we know who owns all the properties and estates in Abuja, Lagos and abroad while lip service is paid to the fight year in year out So tell me, who in their right senses will agree to fund such corruption and deception which will end down the drain like the others? 1 Like |
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