Opinion I Bizarre Extortions By Banks, Telecom Firms

BIZARRE EXTORTIONS BY BANKS, TELECOM FIRMS

        

I grew up to learn that customers or clients are at all times treated like kings as if they are in charge of various empires. However, in recent times, most service providers in this part of the world, particularly Nigeria, had disabused their clients of that ancient belief. 

      

Aside my personal experiences, I had in several occasions been reliably informed that for quite some time now, millions of Nigerians have been subjected to an untold hardship in the hands of the various commercial banks as well as telecommunication companies situated across the federation, via instigation of unending bilious charges.

       

The last time I thoroughly checked, the nauseous practice almost got out of hand that it required only a stiff measure for it to be bade an eternal farewell by its innumerable victims. It suffices to assert that it has already eaten deep into the sufferers’ bone marrow.

       

I would have considered this critique as frivolous, if I were to give a listening ear to a casual and spontaneous utterance tendered by a childhood friend resident in Texas, USA. The buddy unequivocally asked me, albeit carelessly, to ignore the said phenomenon since Nigerians are used to suchlike experiences.

       

The point the dude was frantically trying to make was that the ongoing anomaly, among other related ones, is synonymous with Nigeria thus not unlike a norm. Though I assented to the assertion, he was ignorant that not all traditions are meant to be upheld, hence the need to acknowledge that some trending lifestyles arguably deserve to be holistically abolished without contemplation.

       

Come to think of it, why would Nigeria be invariably reckoned to be a place where such uncalled and unwarranted practices are ostensibly acceptable or a step in the right direction? Rather than protecting the interests of their clients, these banks and telecom firms prefer to unleash on them villainy, as if they are mere slaves.

       

Incessant deductions often reportedly attributed to VAT, SMS alerts charge, ATM service/maintenance interest, monthly card fee, stamp duty charge, and what have you, constantly and consistently made by the commercial banks on their clients’ accounts have become so worrisome that if left unchecked, one may wake up one morning to observe that about 95% of the total money deposited in his or her bank account(s) had been debited from it. We were told that ‘stamp duty charge’ becomes necessary only when one’s account receives a deposit, but currently such charges are being deducted incessantly.

       

Before an Automated Teller Machine (ATM) card is issued to a client on demand, a sum of N1200 or above – depending on the bank – would be deducted from the recipient’s account, yet such a whooping sum of money wouldn’t be enough to cater for the servicing rendered by the card as long as its use lasts. It’s even mind-boggling to realize that the duration of the card does not exceed between two to three years, or thereabouts.

       

On their part, the telecom companies would always make use of imposition mechanism to actualize their dubious motive. In most cases, their customers would be taken unawares as regards subscribing to a certain tariff or promo as if the airtime on their SIM cards weren’t purchased by them. A situation where someone would buy a #100 airtime and all the money would instantly vanish into thin air, really and absolutely calls for a public outcry. Among all, unsolicited text messages and phone calls – especially the ones on advert – continually received from these service providers are another thing of great worry to the concerned public.

       

The aforementioned callous and villainous attitudes of most firms operating in Nigeria, which are to say the least very appalling and thought-provoking, have become a case study to hundreds of thousands of researchers in the country. It’s indeed pertinent to acknowledge that Nigerians at large are seriously suffering in the hands of those they patronize or whom are required to treat them like kings. How would you reconcile this?

       

This lingering impunity has made many concerned stakeholders in Nigeria to insinuate that the country lacks competent and reliable regulatory bodies. Of course, in a situation like this, embracing such speculation wouldn’t be far-fetched. We are all aware that each commercial bank and telecom firm in this nation is answerable to the Central Bank of Nigeria (CBN) and the Nigerian Communications Commission (NCC), respectively, as well as the Consumers’ Protection Council (CPC). But what the people aren’t aware is if the said relationship is really being upheld.

       

The other day I overheard an official of the CPC who played guest on a particular radio programme, saying that the major problem with Nigerians was inability to report to appropriate authorities whenever they are aggrieved or witch-hunted. Consequently, via a phone call, I retaliated by asking her (the official) why they would always wait for the public or consumers to lay a complaint before they take action, even in a situation where the commission or any of its members happened to be one of the victims/sufferers of the ordeal, or when the unbearable circumstance is very glaring.

       

So, if a police officer, for instance, happens to be in a commercial bus and therein one of the passengers is accused of theft or was caught stealing, the said security personnel instead of arresting the accused person or doing the needful headlong would expect other passengers in the bus to come over to the police station to lay a complaint before he would take the action expected of him? I’m just thinking aloud, but every sane individual needs to be deeply thoughtful over it.

       

It’s high time we awoke from our respective slumbers with a view to living up to the expectations. Any firm or person accused of any foul play or punishable offence ought to be brought to book by collective efforts of the apt authorities having acquired the needed evidence for the prosecution.

       

For crying out very loud, the consumers or clients, as the case may be, cannot continue to be treated like nobody by these legitimate consortiums. Think about it!

 

Comrade FDN Nwaozor

Executive Director, Docfred Resource Hub (DRH) - Owerri
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frednwaozor@gmail.com

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Opinion I New Year Jubilee: The Genesis of a Unique Odyssey

NEW YEAR JUBILEE: THE GENESIS OF A UNIQUE ODYSSEY

                 

It has almost become a cliché to say that someone is redrawing the map of the world. Same is applicable to seeing actors in their dramatic moods. For many years, several cultural and historic monuments have been destroyed which has tremendously jeopardized the progress of various historical jubilees that would had constituted many historic remarks. Most of these remarks that have existed in the past successively were lately misunderstood by the present generation, therefore, being observe as mere clichés.

         

Saturday penultimate week, one of my bosom friends residing in Canada called to register his extreme anticipation in respect of the forth coming year, 2018 precisely. In his first sentence, he informed me that he couldn’t wait to see the New Year. I tried to ascertain the actual cause of the immeasurable anxiety, though which is most times usual amongst mankind. He further disclosed that he had already set aside a very tangible resolution that would commence as soon as the year in question begins.

           

Still on the phone conversation, I became more curious and my curiosity was accompanied with enthusiastic inquisition. Thus, I persuaded him to disclose the resolution to me even though he wasn’t ready to let the cat out of the bag. And, he gladly succumbed to my humble importunity. He told me that he had made a resolution that “in the coming year (2018)”, he would never taste beer or any alcoholic drink again. Honestly, I laughed because the fellow in question has been known by all and sundry as one of those who believe that beer ought to always be in one’s tummy irrespective of the weather condition.

           

That was the reason he was earlier mute to let out the inborn resolution to my person. He knew I would certainly consider it as a mere annual cliché being vomited (cited) by millions of youths scattered all over the globe. But, he further let me see the reason his case was a distinguished one by backing it up with some facts or experiences. I concluded by telling him “Bravo!” and he was so delighted to receive such gesture/exclamation from me.

         

In any perspective your observation or analysis might be standing on, the fact remains that any anniversary is consequential regardless of the nature or its area of interest. Sometimes the discrepancies between school records and examination results may not be considered necessary because both are found in academic environment.

       

Notwithstanding, in any two or more existing similar materials or facts, there must be a distinct dichotomy among them. In other words, if many anniversaries or jubilees have been in existed for donkey’s years, one or two of them must be definitely different. Let’s put it this way; if two babies are born simultaneously and they happen to be identical twins, there must be certain difference(s) lying between them.

        

We are discussing New Year anniversary. A ‘new year’ is a certain different year that has just been encountered by mankind which the beginning takes place in every 365 days or 366 days, as the case may be. In the world at large, the commencement of such year always calls for a jubilee among the entire mankind irrespective of religious or cultural affiliations.

        

The world over celebrates the 1^st of every New Year to mark a certain distinct journey that has just begun. Suffice to say; every New Year is regarded as a different odyssey that has just been embarked on, and each day that makes the year in question is seen as one of the steps that constitute the journey since any journey must begin with a step. Let’s ride on!

          

Most people come up with a series of resolutions at the beginning of every calendar year. A few ends up actualizing theirs while most of them often fail towards the end of the odyssey. And these – failures and successes – have been a point of attraction to many concerned souls in regard to New Year resolutions.

         

New Year jubilee is truly a welcome phenomenon that has resulted to many worthwhile histories or historic events. As we celebrate such day, courtesy demands for a certain useful individual resolution to be reached. And, the resolution ought to be seen as the essence of such jubilation.

         

Having reached a certain resolution, there is optimum need for such decision to be accompanied with adequate practical-intensive support to ensure that its outcome becomes a success. Having backed up your decision with an intensive support, then you shouldn’t relent to couple such journey with tremendous prayers and faith. Any of the above tools or measure should not be taken for granted if you truly want your goal to be actualized. There are no two ways about it.

         

Hence, for success to be attained there must be a certain target or dream. And such dream or aim must be accompanied with hard work alongside any necessary avoidance measure as well as adequate prayers and tremendous faith.

          

However, it’s noteworthy that sometimes failure(s) might be consequential regardless of the amount of effort put in any of your aims. And this is where nature comes in. Certainly, “man proposes but God disposes”.

          

Having stated the above facts, it’s therefore needless to reiterate that New Year jubilee or anniversary is surely the genesis of a certain worthwhile odyssey that truly calls for adequate sustenance by all and sundry. Think about it!

 

 Comrade FDN Nwaozor

Executive Director, Docfred Resource Hub (DRH) - Owerri

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frednwaozor@gmail.com

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Opinion I On Ayade's #1.3tn, Ambode's #1.046tn 2018 Budgets

ON AYADE’s #1.3tn, AMBODE’s #1.046tn BUDGETS

        

The optimum pleasure a kid derives from being beaten or scolded is wailing, which often follows suit, just exactly as an analyst or a critic feels while criticizing a certain ill-advised policy from any politician in a position of authority.

        

On Thursday, 30^th November 2017, the Executive Governor of Cross-River State, Prof. Ben Ayade categorically presented his administration’s 2018 appropriation bill to the state’s legislators. To the people’s utmost surprise, the execution of the proposed budget tagged ‘Kinetic crystallizations’ was estimated to cost 1.3 trillion naira. The budget had over 200% increment as against that of 2017 of 301 billion naira. 70% of the budget was estimated to be utilized on capital expenditure whilst 30% would go for recurrent expenditure.  

      

While I was trying to fathom how Cross-River got to this point, subsequently on Monday December 11, 2017, the Governor of Lagos State, Mr. Akinwunmi Ambode presented another budget proposal worth up to a trillion naira. The budget, which was branded ‘Budget of progress and development’, was estimated to be serviced with 1.046 trillion naira with about 28.67% increase compared to that of 2017 of 812 billion naira.

       

The ratio of the capital to recurrent of the Lagos historic budget was given as 67/33% amounting approximately to #699bn and #347bn, respectively. The governor revealed that the estimate for total revenue of the year 2018 was #897.423bn, whereby #720.123bn was to be generated internally and #148.699bn to be sourced through deficit financing within the state’s Medium Term Expenditure Framework (MTEF). Meanwhile, we were not notified how the remaining #28.601bn would be realized.  

       

Gov. Ambode equally disclosed that as at November 2017, the state’s revenue performed at #448.396bn at 76% compared to the full year’s performances in 2016 of #449.609bn at 83% as well as #399.382bn at 82% for 2015. These statistics indicate that the total revenue for 2017 may not be up to 83 per cent as against that of the previous year (2016) let alone outshining the worth of the said fiscal year. This implies that there’s a foreseen drop of revenue in the state, thus 2018 might not be exceptional.

      

To acknowledge that some states in Nigeria now compete with the country in terms of budgetary is arguably a thing of worry for any concerned sane mindset. The ongoing astronomical increase of the annual budgets of most states across the federation has become a scenario that requires an unbiased analysis and review by every relevant stakeholder.

        

For states like Lagos, whose major Internally Generated Revenue (IGR) is usually derived from tax, to come up with a budget proposal of #1.046tn amidst a recessionary era is really ill-advised. As weeks unfold, the rate of redundancy all over Nigeria gets to a different alarming level, signalling possible liquidation of most existing firms in the nearest future; yet, a proposed annual budget that mainly depends on tax would be estimated to cost over a trillion naira.

        

The above assertion shows that in the long run, over fifty per cent of the budget might be financed by funds sourced via borrowing. Aside borrowing owing to contingencies, the budget is already a deficit budget because the estimated total revenue is less than the total fund budgeted. Such a measure, which has inadvertently become a norm in Nigeria, does not augur well for any entity or individual involved that truly wishes to emerge financially buoyant.

      

That of Cross-River – a state that is majorly dependent on oil and gas – is as well another mind-boggling compilation. It’s not anymore news that by the day, everyone lives in scepticism as regards what the fate of the oil industry entails in the contemporary global society, thus Nigeria isn’t an exception over the lingering fear of the unknown.   

        

I would say unequivocally that some of the clauses captioned in the Prof. Ayade’s 2018 budget proposal were mere frivolities. For instance, #2bn is budgeted for school feeding programme. The question here is; is the state really in need of such approach? Rather than discuss how to better the lives of the citizenry in their entirety so that they can take care of their homes, we are discussing how to feed their wards. Teach them how to fish, and not to feed them with fish.

      

Same is applicable to the #52bn mapped out for social welfare, to cater for the aged. If the children of the targeted beneficiaries are comfortable, they don’t need to be fed by the government. Similarly, the #7bn to be expended on the state’s job centre toward training unemployed youths with ‘marketable job skills’ is needless. The government is expected to rather concentrate on how to create an enabling environment that would enable the youth to explore or commercialize their respective patents. Among all, how long can these projects be sustained?

         

It’s equally noteworthy that some of the clauses mentioned in any of the aforementioned budgets might end up implementing white elephant projects that have remained a monster in our present days’ democracy, hence one of the prime needs for the two concerned legislative chambers to holistically examine the appropriation bills critically before passing them.   

        

However, since price of goods and services remain the main determinant of the cost of servicing any budget, as prices of commodities continue to skyrocket unabated in the Nigeria’s markets on a daily basis, the total estimated funds for these budgets have the tendency of emerging far higher during the concerned fiscal year. Think about it!    

 

Comrade FDN Nwaozor

Executive Director, Docfred Resource Hub (DRH) - Owerri

__________________________________

frednwaozor@gmail.com
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