Ah ! This is going to be serious oo . When they steal and put it in real estate, they provide jobs for the poor. Those who steal and do not invest, change those proceeds into dollars and hide the billions in their houses without notice. Can you remember the case of the serving female minister and the $37 million dollars ( I hear when converted it is about N15 billion. ) If kept in Naira it can be noticed. The dollars were only noticed when the Bank M.D. attempted to draw it into the system.
Please do not touch real estate. That is where the poor feed. Shift your attention somewhere, to the source and block it. Apart from providing jobs, at least the real estate can not be taken outside Nigeria, it remains here. The stealing and corruption under Goodluck Jonathan had humanw face. They bravely and “patriotically” invested such proceeds in the country, thereby providing jobs for the poor. Now, they steal more than before and do not invest in the country for fear of being caught. The Government us said to borrow humongous amounts from China,and other international sources of finance, yet you do not see what they do with it, on ground. They hide all the proceeds, make the Naira to depreciate against the foreign currencies, because demand is usually higher than supply. So the dollar appreciates continuously. The proceeds are then laundered outside the country. There are no investments inside the country and therefore such proceeds do not help in creating jobs for the poor. People are dying of hunger. Poverty and crime are rising daily. Inflation is rising daily , as well. A lot of the peasant farmers can no longer go to the farm. Crime seems to be sustained through ransom -kidnapping. Is there anybody with brains in the government ?Are there no reputable economists ? It would seem that Government is paying attention on the wrong things ( symptoms ) , and people are in excruciating pains. The middle class has collapsed. Those that seem to be thriving are people in government because it would seem they know how to steal and hide it. Please EFCC, help the poor. Allow real estate, so long it provides jobs, and concentrate on unearthing those who steal, and covert the proceeds to foreign currencies. Let real estates continue to provide jobs and accommodation.
Joshua D Ephraim writes from Abuja