BVN: Nigerians In The Diaspora Were Not Considered, Says

BVN: Nigerians In The Diaspora Were Not Considered, Says

BVN: Nigerians In The Diaspora Were Not Considered, Says

DESPITE the decision of the Central Bank
of Nigeria (CBN) to extend the timeline
for Nigerian bank customers in the
Diaspora to enroll for their Bank
Verification Numbers (BVN) to January
31, 2016, indications have emerged that
such customers feel not carried along in
the exercise.
A Nigerian-American trained Investment
Advisor, Christopher Okoli, while
reacting to the extension of the timeline
for Nigerian bank customers in the
Diaspora, said Nigerians in the Diaspora
were not in any form considered when
the programme was being conceived.
Okoli, who made his view known to The
Guardian through a statement, said out
of about 10 million Nigerians in North
America, not up to 10 per cent has fully
participated in the BVN programme.
Okoli, who spoke on other economic
issues bothering the country, said: “I am
not questioning the validity or the intent
of BVN programme that just ended on
October 31, 2015, although I was recently
informed that a new date of January 31,
2016, to accommodate Nigerians in the
Diaspora has been established. But
obviously, Nigerians in the Diaspora
were not in any form considered when
such programme was being conceived.
The ongoing bad governance for over
four decades have started threatening
the unity of a peaceful rich and
populated country now that crude oil
prices is selling off, and the treasury
probably empty. The country failed to
plan for the growing population in the
past, and that action explains why
Nigeria has large percentage of her
population stranded in the Diaspora.
There might be close to 10 million
Nigerians in North America and not up
to 10 per cent of such group of Nigerians
has fully participated in the BVN
programme that was meant to expurgate
suspected individuals’ ill-gotten bank
accounts from the country. Nigerian
leaders must find ways of monetising
and utilising the hidden assets of
Nigerians in the Diaspora because such
group has enormous non-performing
assets that would be beneficial to the
country’s ailing economy.”
He added: “Monetisation of non-
performing assets of Nigerians in the
Diaspora is a panacea to reviving the
country’s recession-bound economy
(details to be submitted upon request)
and such action would help to save
democracy in the country.”
Okoli said “Nigerian policy makers must
engage in more due diligent processes
that would help them to focus more on
“aiming on targets before shooting”
instead of just shooting sporadically in
the empty space hoping to get some
ignorant birds.”
“Let subsequent monetary and fiscal
policies be result-oriented in the
targeted accomplishments. Policies that
are not well articulated must eventually
end up in dustbins where such policies
belong in the first place. Nigerian
President is currently in the fierce battle
of saving the country from the unseen
natural forces of financial, social and
economic nightmares that would be
taking the country into deep recession in
the coming months.
Let Nigerian policy makers be reminded
once again that the global village will be
heading into deep recession by fourth
quarter of 2016. Let the government
make adequate accommodating plans to
survive the global carnage. President
Buhari and the CBN governor must
quickly reconsider the battle of saving
Naira because the cost and the
unintended consequences are getting
ugly and would continue so bad in
coming months,” he said.