Posted by John Okiyi Kalu | 10 years ago | 6,549 times

One of the reasons why many Nigerian banks and our banking system almost collapsed completely some years ago was because of their frivolous loan portfolio. Some of those unproductive and unrecoverable loans were reportedly given to politicians without clear cut repayment plans and securities.

Are we back to the era of giving loans to politicians to contest elections?

I ask because I read last night where General Buhari claimed he obtained a loan of N27.5m from a bank to fund his purchase of APC presidential nomination form. Which property did he use in securing the loan? What is the repayment plan with expected cash flow analysis? Will he pay back if he loses APC nomination, or presidential, or both, as expected? Assuming he wins the election, will he pay from the presidential basic annual salary of N14.04m? Or will it come from his purpose defined allowances? Or maybe from “other sources”?

More importantly, why did a party he co-founded peg its nomination form at N27.5m with his approval? Didn’t they know he doesn’t have such amount of money? Or did they actually believe his 2011 this-will-be-the-last-time-I-will-run-for-president speech? Why should the APC keep her form beyond the reach of her founder?

Finally, why didn’t all APC governors, Tinubu and APC moneybags, who sing Buhari’s praises daily, pay for him? Could it be that they knew he actually could pay, but their foreign PR consultant advised on this loan superstory to hoodwink gullible Nigerians? Or is it that APC moneybags quietly don’t like him, but are merely using him to further their own political nest, and will make him cry again when the chips are down?

Whatever be the case, we siddon dey look them. Sweden’s Health Minister is 29 years old, and Nigerian youths should demand for power transition from our political “antiquities” to the new generation. Buhari himself was 34 as a minister and 33 as a governor before making it as a Head of State at 41. Yet he wants to be a Head of State again at 72. Didn’t he groom anyone to be like him, if at all being like him is a desirable for Nigeria’s Presidency? Or is he the only person who can do whatever his fans tell him to do?

Yeyerism of yeye people singing yeye song whose yeye meaning they know not.

All I will say is that nobody should chop his own and chop my own o. There is time to rule and time to play with grand children. It is God that made it like that and people should not reverse natural order for selfish reasons. It doesn't make sense to me that a grandpa at 71 will take a bank loan to take my turn after taking his turn at 42.

Chineke parakwa tulee this our uwa ntoo situation o!!!

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