By Yinka Odumakin
AS good a gesture as the bailout is, it may lead to moral hazard as the states continue with financial recklessness leading to financial insolvency.

“Why are we borrowing to pay salaries in stark violation of Section 41 of the Fiscal Responsibility Act?”

-Mr Remi Babalola, Former Minister of State for Finance.

“They say they are restructuring N18.8b of our commercial loans and with the 9% interest, by the time the money is repaid in 20years we would have paid an extra N36b as interest. That means the N18b would have become N56b” -Gov Ayodele Fayose

If “Boko”  had not truly become “Haram” in Nigeria,our public intellectuals would have by now been able to break down the bondage recently packaged by the Federal Government for about 26 states of the Unitary Republic of Nigeria in the name of bailout.  The APC megaphones would have been too ashamed of this wrong-headed decision instead of having the audacity of counting it as an achievement.

Fiscal responsibility

Section 41(1)(a) of the Fiscal Responsibility Act states “Government at all tiers shall only borrow for CAPITAL EXPENDITURE AND HUMAN DEVELOPMENT (emphasis mine), provided that such borrowing shall be on concessional terms with low interest rate and with a reasonably long amortization period subject to the approval of the  appropriate legislative body where necessary.”

Clause 3 of this section makes non-compliance with the provisions an offense which exactly is what the so-called bailout is all about. For rather than borrowing money for capital expenditure and human development, the N388b recently approved for the states to pay arrears of salaries was a fiscal act to encourage financial recklessness and abuse of public trust as it is widely known that most of the states could not pay their workers due to either waste or theft of the funds meant for that purpose. Without asking the governors to give accounts of how they misapplied their allocations,they have been buoyed to further mortgage the future of their states while we are supposed to be fighting corruption.

There was no legislative approval for these loans which were packaged under the table in the most brazen violation of fiscal responsibility. Shorn of all pretenses,the states drawing these loans are technically under RECEIVERSHIP!

What the Federal Government has done is akin to  what someone who has a wayward relation living beyond his means would do to dig him further into the trench while deceiving  himself that he is helping out. Imagine the  scenario where a fellow who is earning N100,000 a month decides to go and rent a flat in Ikoyi where he pays a rent of N250,000 monthly. Within six months he has gathered “gbese” of N1.5m on rents and he runs to his brother to bail him out of the “quagmire “(I borrow that from one of the chronic debtor-governors).

If the man he runs to has a better gumption than his debtor-brother the first thing he must do is to get him out of Ikoyi to Abule-Egba where his income can comfortably pay for a house  and still be able to meet other obligations and then find ways to clear the debt he is owing in Ikoyi to remove the shame  he has invited upon himself.

But if irresponsibility runs in their DNA, he could choose to serve as guarantor to his brother to go take loans from a bank to pay the six months arrears to be repaid over 20 years at 9% interest.The implication of this is that he would pay  the arrears of his irresponsible lifestyle of six months and begins to acquire new debts on rents and the interests on the loan he has taken which would immediately reduce his income to N90,000 while he still pays a rent of N250,000 monthly in addition to outstanding principal. His condition has been worsened by the unreasonable “bailout”.

This is exactly what the Federal Government is doing to the states all in a desperate bid to keep the Abuja “command and control centre” when it has become all too obvious that the panacea is to restructure the country and create new corridors of prosperity that would give a new lease of life to the federating units. Restructuring debt to plunge into greater indebtedness over a longer period can only be a cause for celebration as is currently the case only in Nigeria.It is clear except to the naive that none of those states would be able to do any capital project in the foreseeable future .Little wonder the APC folks can make promises to a people like these and renounce them in 100 days and yet they are not asking what they should now expect in the remaining 1350 remaining days. Anyone still in doubt  that these “maga” will continue to pay and the conmen will continue to shout “hallelujah “?

We wait at the observatory to see where the yoyo will end. A man is sick and the native doctor says the cure is in him just saying “to” but he squeezes his face and starts to grumble “why should I be saying to to to about because I want healing ?”

The authentic Prophet the heavens sent to Nigeria, Fela  Anikulapo-Kuti summed it up  a long  time ago when he sang “he just dey perambulate and still dey same same place.” Now he has moved to a worse place. Second base jare!

Justice Oloyede and  Osun Skelewu Orchestra (2)

PERHAPS more paediatric is the recent attack in her private space.  Her morality is being questioned because she, a divorced woman, has a relationship with a married man! She has been called all forms of names the most ardent being husband snatcher.  A petition, purportedly written by the wife of the gentleman she is said to have this relationship with has been written to the National Judicial Commission (NJC), requesting them to stop Justice Folahanmi from continuing this relationship as it threatens her marriage! Very interesting!!

What is the role of the NJC in holding judges to a moral obligation that has in no way compromised their professional judgement and go further to sanction a divorced female judge for having a relationship with a consenting male adult?  How many judges male or female can pass the scrutiny of the standard Justice Folahnami is being held against?  He who has no sin should indeed cast the first stone from the bench!  Can we please address the real issues?  As the Yoruba’s would say, it appears that the treatment of leprosy (ete) is being ignored while we focus our effort on the treatment of the lesser issue of eczema (lapa lapa)!

The personal relationship that Justice Folahnmi has does not in any way detract from the issues she has raised. We are informed that she is divorced!  In any case that is not an issue for public discourse, they are both consenting  adults.  In fact, that this level of pedestrian discussions are ongoing might indeed assert that she has identified that ‘the king has no clothes on, and is naked’, and touched perceived sacred cows.  Rather than find clothes for the King, some are expending energy in showing that she (Justice Folahanmi) indeed is clothed in value and integrity that they wish to smear at all costs.

All of a sudden being divorced and/or having an extra marital affair matters in Nigerian politics and to good governance.  This is the red herring for those who seek to protect corruption and ineptitude in governance and the public space.  Who seek to erode the moral weight of public accountability, and the responsibility to respond to everyone irrespective of  gender.  Being divorced is neither a crime nor is it unconstitutional.

Relationship status

If Justice Folahnmi was a man, would the marital or relationship status become an issue in the public space?  Would his morals be called to question?  In any case, what relationship does this have to the matter and very important public accountability issues she has raised?

Shall we call for every male, including the governor, who has or has had an extra-marital affair, and/or children outside marriage, to be stripped of all rights to public office and leadership?  I am sure that not many will be left in the Secretariat of Osun State!  Fundamental to this campaign of calumny is a denial of the rights of Justice Folahanmi as enshrined in the constitution of Nigeria as in all covenants of human rights to which Nigeria is signatory at global and regional levels.  The reaction to Justice Folahanmi seems to align more with the position of the Ugandan dictator and former President, Field Marshall Idi Amin, who guaranteed freedom of speech but could not guarantee freedom after the speech.  Can those who the public must hold accountable address the issues Justice Folahanmi has raised and not be distracted by this arrant nonsense?

Corruption and lack of accountability are bed mates.  Justice Folahanmi has acted honourably, seeking first audience with the Governor, and its denial, taking her concerns forward to the State assembly. This very courageous woman deserves our commendation and support. Her courage is even more salutatory, knowing that in a male dominated and religiously pervert society, she had moral courage of her convictions, to speak up and stand tall, knowing that her personal space might be put to public scrutiny, and beyond that, that she will potentially be the target of institutionalized intimidation and unconstitutional protection of a public officer whom we all must hold to account.

It is glad to now hear that the National Judicial Council has thrown into the trash can the sexist,crude and childish petition against Justice Oloyede .Can we now address the issues she raised ?