Thursday, January 20, 2005

Black Cops and recapitalization

Cops in Nigerian wear a black uniform and they've given people reasons to believe they are equally black on the inside.
Two days ago, the Inspector general of police resigned his position, nobody of course resigns in Nogeria from a money spinning political position unless you've been directed to do so and Tafa Balogun is no exception. It was reported in the national dailies that he must have resigned as a result of lodgements of large sums in certain Nigerian banks, largest among this is a whooping 7.5Bn Naira, this brings us back to the title.
Now the CBN recently directed banks to recapitalize to the tune of 25Bn Naira in 2005. My weak mathematics infers each bank requires a fraction less than four Nigerian IGs to meet there targets. Its ackward our government goes around begging for debt forgiveness.
As to the question of how he made so much, well the Nigerian police force mount the largest numbers of toll gates in modern and ancient history and its now evident why nothing had been hitherto done about the situation. And did you see the size of Tafa's belly, things like that are allowed only on this side of the globe.

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