• Thursday, July 25, 2024
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Sakara music for my birthday (3)

Sakara music for my birthday (2)

Sakara music is nuanced with deep meaning that only those who have been properly initiated can decipher. A great deal of it is a coded message.

Furthermore, similar to what prevails in Business Schools it relies on case studies for both evidence and anecdotes.

That is why the case of Eji Gbadero before Justice Ishola Oluwa (an old boy of King’s College) for murder is a recurring decimal among musicians.

Justice Oluwa delivered his judgment without fear or favour. The conviction was subsequently upheld by the Court of Appeal. Not long afterwards Justice Yahaya Jinadu bluntly refused to be manipulated by the powers that be.

He quit the judiciary with his integrity and honour untarnished. Time and space will not permit me to dwell on the insurance fraud that involved Mr. Abayomi and Delfonso.

It ended up with the accused shooting his lawyer and also shooting himself. On his hospital bed, it was his own mother who urged him to finish the job (suicide) rather than disgrace the family. That was Lagos at its best.

Perhaps it would not be out of place for me to seize this opportunity to publicly acknowledge the kindness of the Sakara musicians for the song dedicated to my late father: “Mo gbo iku J.K. Randle” – a truly moving dirge that truly captured the pathos of his burial sixty-five years ago.

That sad song is now categorised as “Evergreen”.

Even more gratifying is the frequent reference to my handing over of the property at Ikoyi, Lagos which my aunt Alhaja Esther Munirat Mohammed bequeathed to Lagos Central Mosque. I had to fight the case all the way to the Supreme Court in order to accomplish what the testator had directed me to do.

The verdict of the Sakara musicians is that, that is exactly what my father would expect me to do.

Recently, at the Island Club, it was at the “Evening of Sakara Music” that the band reminded me that the Randle family is probably (arguably) the largest landowner in Lagos – apart from the sand-filled areas and vast estates dredged from the Atlantic Ocean and the shoreline of Lagos.

When it was time for me to leave, they sent me off with “Mio se ni jo ? Oluwa pami lerin ayo” which translates as:

“Why should I not dance in joyous acknowledgement of the bountiful blessings and limitless mercies of the Almighty ?”

However, they warned me that the government is on the prowl to grab J.K Randle’s property (next door to the Island Club) at Onikan and Ikeja where the government Secretariat is located. The Randle property is vast but the dragon is insatiable.

Let the music play on.

As confirmation that the economy is the centrepiece of all that hails our beloved nation, the Sakara musicians have raised the alarm (which was carried on “Breaking News”) on CNN:

“Last year Nigeria made: N970.3 billion from oil, and N1.6 trillion from non-oil taxes (Hence, non-oil revenue exceeded oil revenue).

In addition N2.8 trillion from a cumulative of other sources – making a grand total of N5.5 trillion in revenue.

That is where and when the wizards and witches took over.

Out of the N5.5 trillion, N4.2 trillion was spent on servicing (repaying) debts from January to November.

What was left was a paltry N1.3 trillion. In essence, what is left after repaying debts is not enough to run the country.

According to the 2021 budget, the expenditure plan was N13.57 trillion. So since we just have N1.3 trillion left, an extra N12.27 trillion is needed.

Where do we get it?

Yes, you guessed right – we borrow. In 2021, Nigeria spent N12.56 trillion – most of which were borrowed money spent on things that do not bring money back (salary, fuel subsidy, Looting, etc).

So, if Nigeria was a man who makes N100k a month, he borrows N5 million every month to pay for the light bill and running of the house.

See the picture now? Scary, isn’t it?

The excess crude oil account (which is like our savings) is almost empty. So not only does this man borrows like a crazy person, he has no Savings for emergencies (like if his boss decides not to pay salary).

Anyway, the finance minister thinks we are doing alright. That what we have is a revenue problem – and not a debt problem and if we make more we will be alright (this is why they are taxing everything).

Of course, she could be lying. …but she maybe right too.

The rule is we should Never borrow more than 40 percent of our GDP. We are at 36.9 percent, 3.2 percent more and all the alarm bell goes off.

Now – imagine if our revenue keeps dropping, and the debt keeps increasing. And one day – voom – 3.2 percent crossed! Then we will really have a debt problem.

Since we currently borrow to pay salary, when the alarm goes off – further borrowing is a disaster: The government will struggle to pay salary. (Which is scary considering that the Government is the biggest employer of labour in Nigeria).

More taxes will be imposed to raise money, including tax on goods, which will increase the prices you pay on foreign rice for example.

Our currency will get further devalued. Which means things will get even more expensive in the market.

This is the state of the nation… Yet…

…the politicians still loot and take home fat salary.

Imagine if we get the wrong President in 2023, who will not get these things fixed. Imagine the disaster if we push over that 3.2 percent.

If you think politics does not affect you, then maybe you do Not see the full picture. Which is why I laugh at people who ignorantly say – ‘’I am not interested in politics’’

Well, guess what is? It is interested in you. The person who becomes the President will affect the price of your bag of rice…, …your cylinder of gas.

It affects whether or not it is safe to drive from Kaduna to Abuja or fly…, …or whether you need to pay 7.2% or 20% VAT on your Facebook ads.

It affects whether you keep selling on your Instagram page or whether Instagram gets banned in the country OUT of the blues.

It affects the shipping fee you pay on your Tokunbo car.

Read also: Sakara music for my birthday (2)

Get the picture?

This is not the time to be tribalistic. Or want a President from any part of Nigeria. It is a time for The right one. You really need to get involved. In any little way you can. After you have gotten PVC, try to vote. If your Vote does not count they won’t be chasing people away at polling stations.”

What better proof do we need that Sakara music has gone international and that indeed the world is a global village than the special request by the retired partners of KPMG who are still awaiting their gratuity and pension, that the musicians should deliver their verdict on the front page of “The Week” magazine:

“There’s nothing like getting back to work with a clean slate, for Big Four bean-counters KPMG and EY, some stubborn stains relating to past failures seem impervious to scrubbing.

KPMG is still in the crosshairs of UK regulators over its audits for Carillion (the giant contractor that collapsed in 2018) and another outsourcer, Regenersis, said Tom Howard in The Times.

The firm now faces “a disciplinary tribunal” for allegedly supplying the Financial Reporting Council, “with false and misleading information”.

EY’s woes date back even further, said Sam Jones in the FT. The firm’s Swiss practice is being sued for $1bn by the US hedge fund Lion Point Capital, in connection with the 2010 collapse of Zeromax – an opaque Uzbek conglomerate with a “labyrinthine network of offshore holding companies”, based in the canton of Zug. Lion Point alleges that EY issued a series of “clean” audits ahead of the collapse, “the second-largest ever bankruptcy in Switzerland”, and failed to act upon red flags.

More claims may follow. “Hundreds of European creditors……are still owed billions.” This is only the latest of EY’s continental scandals, said City AM. It also faces scrutiny for its role as auditor of Wire card, the wunderkind German payments company which imploded in 2020.”