A New York-based lawyer and chartered accountant, Chief Owolabi Salis has advised the Central Bank of Nigeria (CBN), to closely monitor the activities of the nation\u2019s banks for economic recovery.<\/p>\n
He posited that this had become expedient to actualise the renewed hope agenda of the Tinubu administration.<\/p>\n
Salis in a statement from his United States (US) base noted that Nigeria was losing billions of Dollars due to the unscrupulous activities of banks, especially from remittances from Nigerians in the Diaspora.<\/p>\n
According to him, this was discouraging many Nigerians abroad from sending their monies to Nigeria, thereby negatively impacting the economy and programmes of government.<\/p>\n
Said Salis \u201cthere is no gain saying that Nigeria has a lot of professionals cutting across diverse fields abroad.<\/p>\n
\u201cOrdinarily, this should be a major advantage for any country, as it is a major avenue to boost the economy.<\/p>\n
\u201cHowever, from my personal experience and my discussions with many Nigerians abroad, a lot of Nigerians are very reluctant to send money home because of the unscrupulous activities of some banks who impose excessive deductions on such monies<\/p>\n
\u201cI have felt this at a personal level as five percent of a not-for-profit venture sent to a Nigerian bank was deducted.<\/p>\n
\u201cThis left me shocked to the marrow as there is no where in any part of the civilized world that such is done.<\/p>\n
\u201cI am more that sure that I am not alone because so many Nigerians abroad are discouraged by such acts and would rather keep their monies in places they are pleased with.<\/p>\n
\u201cUnfortunately, this impact negatively on the nation\u2019s economy, denying it several million of dollars which would have provided more foreign exchange and provide jobs for millions of people.<\/p>\n
He further commented on the anti graft agencies.<\/p>\n
\u201cI have argued several times since 207 that the anti graft agencies, EFCC and ICPC should operate at the grassroots of public corruption rather than choosing the proceeds of corruption. Merely chasing the proceeds of corruption is an attack on the economy because the corrupt government officials will move the money from the economy.<\/p>\n
\u201cAllowing corruption to happen in government and chasing the proceeds of the corruption on its own. Since many government officials have been raided, the public has never been fully informed what was retrieved from the raids.<\/p>\n
\u201cI am pleased to hear from the new EFCC helmsman that government corruption will pursued at the grassroots by setting up kiosks at the transportation level. That will help a lot.<\/p>\n
Thwart Tinubu\u2019s Renewed Hope Aagenda, Says Salis<\/p>\n
A New York-based lawyer and chartered accountant, Chief Owolabi Salis has advised the Central Bank of Nigeria (CBN), to closely monitor the activities of the nation\u2019s banks for economic recovery.<\/p>\n
He posited that this had become expedient to actualise the renewed hope agenda of the Tinubu administration.<\/p>\n
Salis in a statement from his United States (US) base noted that Nigeria was losing billions of Dollars due to the unscrupulous activities of banks, especially from remittances from Nigerians in the Diaspora.<\/p>\n
According to him, this was discouraging many Nigerians abroad from sending their monies to Nigeria, thereby negatively impacting the economy and programmes of government.<\/p>\n
Said Salis \u201cthere is no gain saying that Nigeria has a lot of professionals cutting across diverse fields abroad.<\/p>\n
\u201cOrdinarily, this should be a major advantage for any country, as it is a major avenue to boost the economy.<\/p>\n
\u201cHowever, from my personal experience and my discussions with many Nigerians abroad, a lot of Nigerians are very reluctant to send money home because of the unscrupulous activities of some banks who impose excessive deductions on such monies<\/p>\n
\u201cI have felt this at a personal level as five percent of a not-for-profit venture sent to a Nigerian bank was deducted.<\/p>\n
\u201cThis left me shocked to the marrow as there is no where in any part of the civilized world that such is done.<\/p>\n
\u201cI am more that sure that I am not alone because so many Nigerians abroad are discouraged by such acts and would rather keep their monies in places they are pleased with.<\/p>\n
\u201cUnfortunately, this impact negatively on the nation\u2019s economy, denying it several million of dollars which would have provided more foreign exchange and provide jobs for millions of people.<\/p>\n
He further commented on the anti graft agencies.<\/p>\n
\u201cI have argued several times since 207 that the anti graft agencies, EFCC and ICPC should operate at the grassroots of public corruption rather than choosing the proceeds of corruption. Merely chasing the proceeds of corruption is an attack on the economy because the corrupt government officials will move the money from the economy.<\/p>\n
\u201cAllowing corruption to happen in government and chasing the proceeds of the corruption on its own. Since many government officials have been raided, the public has never been fully informed what was retrieved from the raids.<\/p>\n
\u201cI am pleased to hear from the new EFCC helmsman that government corruption will pursued at the grassroots by setting up kiosks at the transportation level. That will help a lot.<\/p>\n","protected":false},"excerpt":{"rendered":"
A New York-based lawyer and chartered accountant, Chief Owolabi Salis has advised the Central Bank of Nigeria (CBN), to closely monitor the activities of the nation\u2019s banks for economic recovery.<\/p>\n","protected":false},"author":1,"featured_media":16502,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[2464,843,8004],"class_list":["post-16501","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-metro","tag-banks","tag-bola-tinubu","tag-renewed-hope-agenda"],"_links":{"self":[{"href":"https:\/\/theblogonline.com\/index.php?rest_route=\/wp\/v2\/posts\/16501"}],"collection":[{"href":"https:\/\/theblogonline.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/theblogonline.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/theblogonline.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/theblogonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=16501"}],"version-history":[{"count":1,"href":"https:\/\/theblogonline.com\/index.php?rest_route=\/wp\/v2\/posts\/16501\/revisions"}],"predecessor-version":[{"id":16503,"href":"https:\/\/theblogonline.com\/index.php?rest_route=\/wp\/v2\/posts\/16501\/revisions\/16503"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/theblogonline.com\/index.php?rest_route=\/wp\/v2\/media\/16502"}],"wp:attachment":[{"href":"https:\/\/theblogonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=16501"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/theblogonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=16501"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/theblogonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=16501"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}