I have read so many reports that the government wants to borrow from dormant accounts and unclaimed dividends to meet their gaps. I like the idea because it is better to borrow locally than to go and take that foreign-denominated loans that come with specific conditions like bringing DNA certification of all members of the Federal Executive Council. But there is a snag: is the federal government credit-worthy? That is my problem o. As a young credit officer those days, if someone asked for a loan, in appraising the request you would want to see if the person can meet the 5Cs – character, capacity, capital, collateral, conditions.
My people if we look at this thing very well, do you really think the government will meet these conditions? That character own go first knock them out before the rest. The thing just remind me of when I went to borrow money from my boy Ope who was running a credit company. He say, ‘Bros, I no fit borrow you money because I cannot chase you if you no pay.’ So, who will now be chasing FG if at the time of repayment that Baba say, ‘common gerraout’. They say, they are setting up a trust fund that will be managed by the DMO.
Who be DMO again? No be person wey be civil servant under the same government? Mbok, the best thing to do, is to move all the money and place with IMF or NATO or one big international body that Buhari will fear, then the person will now come and give the government a cash-backed loan. This will make them be serious and use the money judiciously and much more important, make them pay back because these are people’s monies. I like the idea of borrowing from these idle funds instead of just grabbing them but my fear is will they pay back? Won’t we hear songs of freedom when the time comes to pay back?