The Government Mustn't Be Allowed To Borrow From Unclaimed Dividends

I agree to this.

Why borrow from unclaimed dividends when the Federal Government can choose to cut down expenses accrued from their extravagant expenses, allowances and upkeeps?

But no! They are not ready to sacrifice anything from their own pockets, but they are ever ready to take from others.

I’m sure its no news that the Federal Government plans on claiming unclaimed dividends from Nigerians. And although, they promised to return it, I wonder why Nigerians choose not to believe that they will.

Well, it turns out that they have every right to take these unclaimed dividends as a Financial Act signed into law last December by the President gives the Federal Government the right to do such.

Well, this new directive has met with a lot of disapproval from Nigerians, but it doesn’t seem like the Government is backing down from their new plan and now the Socio-Economic Rights and Accountability Project (SERAP) has step in through an open letter addressed to President Buhari.

In the open letter, the President was urged to desist from this new plan and honor the people’s right to property. But even with this, I think that it is very possible the Federal Government will go through with their plan.

And when they eventually do, to who are they accountable to?

I agree that there is a need for government to cut down on their spendings as the type of system we operate in Nigeria is quite expensive and unsustainable. The plethora of political aides alone who add no value to the society will save lots of fund if they are discarded and civil servants are allowed to do their jobs. I continue to insist on all platforms I find myself that this country will never make any headway if they fail to restructure. Take a look at the various states budget for 2021, they are hundreds of billions, but more than 50% of this state bring nothing to the table, thus adding nothing to the GDP of the country. For instance nasarrawa intends to build a new secretariat and their budget is over 200bn but how much of that will come from nasarrawa into the federation account?little to nothing.Unclaimed dividends are simply being used by private and few business men to make money for themselves and if this monies can be learnt to the FG to use for tangible projects I feel its a welcome idea. Some individuals do not have up to a thousand naira as dividend and that is why many of them forgo the dividends. As long as the government is ready to use it to implement tangible projects that can be monitored its a welcome idea for them to utilize the funds, but if its meant for salary payment then it should be highly resisted

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