SWF is a scam and just like SAP would greatly impoverish Nigeria. Just imagine someone owing you so much now goes to open in a savings account. No sense at all

once again, we still celebrating promises. am not dancing any tungba until i know the direction which they really are going.

Kai, intellectually bankrupt people; what is there to celebrate in this news/ That GEJ is keeping some money somewhere for us is that it?? What is the big deal? We have always had money kept saved or gathered for whatever purpose Lets start seeing the benefit then we can shout praises; but as for now there is nothing to rejoice about.

Mtcheew

The money will later become a ridicule, it will be infected with corruption by those who are propagating it.

Good move

The money wey no reach to develop the country, we dey keep ham. for who? for what?

BIG BROS JO, I HAIL U FOR THIS GREAT IDEA. The only good idea and promise you've fulfilled.

Sovereigh wealth fund is sneaky and suspicious. Yes, we should save so we can have something for tomorrow but someone needs to explain how Nigerians benefited from our celebrated foreign reserve which went to as high as $48B during Obasanjo era but has now been depleted to less than $20B. Someone needs to tell me what our rulers bought or invested the money on that depleted it.
So, between the time our foreign reserve moved from robust to deplete, what happened? We can see more terrible roads and children who have good grades but can’t get into the university. We see those who graduated roaming the streets. We drink now from borehole instead of Water Corporation. We see brain drain, imported fertilizer and imported rice. So what are we saving towards if our living standards don’t get better. If air fares go higher and governors travel in chartered planes and jet, who benefits from the foreign reserves?

Now, the states where pupils have no desks and we still have villages where buses go only on market days, have to contribute to Sovereign Wealth Fund. Money that we need now. Fund that will not be used to build refineries or rice processing plants? Shouldn’t there be a reason why we are saving? The governors have kicked against the idea and gone to court but I have this feeling that some graphs and pie-charts will surface and this Fund will eventually take off. And we, the people, will bear the brunt. Budgets will remain unimplemented. The federal universities will not be upgraded or expanded. Our sick leaders will continue to die abroad because money meant for latest hospital gadgets would have been saved. Our living standards will remain what it is, poor.

Olacharles:

Sovereigh wealth fund is sneaky and suspicious. Yes, we should save so we can have something for tomorrow but someone needs to explain how Nigerians benefited from our celebrated foreign reserve which went to as high as $48B during Obasanjo era but has now been depleted to less than $20B. Someone needs to tell me what our rulers bought or invested the money on that depleted it.
So, between the time our foreign reserve moved from robust to deplete, what happened? We can see more terrible roads and children who have good grades but can’t get into the university. We see those who graduated roaming the streets. We drink now from borehole instead of Water Corporation. We see brain drain, imported fertilizer and imported rice. So what are we saving towards if our living standards don’t get better. If air fares go higher and governors travel in chartered planes and jet, who benefits from the foreign reserves?

Now, the states where pupils have no desks and we still have villages where buses go only on market days, have to contribute to Sovereign Wealth Fund. Money that we need now. Fund that will not be used to build refineries or rice processing plants? Shouldn’t there be a reason why we are saving? The governors have kicked against the idea and gone to court but I have this feeling that some graphs and pie-charts will surface and this Fund will eventually take off. And we, the people, will bear the brunt. Budgets will remain unimplemented. The federal universities will not be upgraded or expanded. Our sick leaders will continue to die abroad because money meant for latest hospital gadgets would have been saved. Our living standards will remain what it is, poor.

Your Concerns are truly understandable, but from what beaf explained, I think the SWF is better regulated and one of the reason why we can't track the cause of the reduction of our ECA from $48 billion to less than $20 billion is because the ECA is not regulated by law. And as such it gives rise to illegality, The SWF as i understand it is not a fund to just store up money just like your regular Savings Account, but I believe it is also for the purpose of investment. I saw on TV that the fund will even be managed by a reputable professional firm (KPMG). So in principle, all activities as concerns the SWF is going to be checked,

So lets wait and see if this retardeen/odechukwu as some NL members have decided to call him will deliver on his promises,

Lets breathe in fresh air, please,

psalmizt

I admire your support for this SWF. I think GEJ have good intentions however this cannot translate to reality with the high level of corruption in the system.

Pls forget abt all these checks and balances described here, Its all these professional firms(KPMG) that audited most of these banks that are having problems today. All of them were part of the conspiracy to put banks in precarious position. All of them are damn corrupt, its all abt money money money, audit fees !!! Sincerely for GEJ to make any impact in the country, the first step is to tackle corruption.

Let him send a bill to the National Assembly on a death penalty by hanging for any public official found stealing public Money. This should be concluded in a simple high court with appeal to Supreme Court only, We only need few public officials to be hanged; everyone will sit up, All these politicians passion for political post will reduce , Nigerians will know he is serious ,

babaijesha:

psalmizt
All of them are damn corrupt, its all abt money money money, audit fees !!! Sincerely for GEJ to make any impact in the country, the first step is to tackle corruption.

Well, wetin man go do na, Corruption has always been there and will continue to be there,

babaijesha:


Let him send a bill to the National Assembly on a death penalty by hanging for any public official found stealing public Money. This should be concluded in a simple high court with appeal to Supreme Court only, We only need few public officials to be hanged ; everyone will sit up,

I do not think the president needs to hang people before things can be taken seriously, Nigeria has always been known to be poor with implementation despite all the highly laudable projects put in place, Lets siddon look na,