U said it all! proeast:
The story went like this, before the war the Igbo dominated the economic work force followed by the Yoruba, when the civil war started, Igbo, for their safety left their jobs in different parts of the country to return to the East, the Igbo land. After the end of the war, the Igbo went back to seek for their jobs that they left for security reasons, the Yoruba who took advantage and occupied the positions that Igbo left decided that they will not relinquish those position because according to the Yoruba, Igbo abandoned their positions and do not deserve their position back, reminiscent of the abandon property thievery in Port Harcourt River State and Lagos.
However, a dynamic developed as Igbo every morning dressed up and went and occupied the lobbies of their different offices that they used to work in. Tell me, if this is not manifest bravery of the highest order ever exhibited by any group in Nigeria and we are talking about days and weeks immediately after the war was declared over. But the final say as to whether or not the positions that Ibo left for dire life was going to be declared abandoned rested on the British that owned these companies.
As the back and forth went on, the British started angling to make an economic decision because they understood the difference between the Ibo worker and the Yoruba worker and the three years of the civil war made that difference even more crystal clear to the British, if not, why would the British bother to accommodate the Igbo after such a long time? What became clear to the Yoruba was that the British were willing to make extra provision to re-absorb the Igbo any way possible.
Yoruba was not ready to tolerate any of that because they knew that it was a matter of time before the wheat will be separated from the shaft that Igbo will assume their prominent positions. In order to prevent the British from re-absorbing the Igbo into these British owned companies, the corporate Yoruba decided to solicit the help of Awolowo who was then the finance minister and chairman of the federal military council.
This is where a plan was hashed to wrest the control of these companies, consisting of banks, insurance companies, corporations of different kinds and types from the British.
The best way Awo and his cabal found fit was to convince Gowon and the military leadership who in all probability have never had the word indigenization in their lives to promulgate the INDIGENIZATION DECREE in 1972 that stipulated that every foreign owned venture must transfer majority ownership to Nigerian indigenes within a year of the promulgation of the decree or they will forfeit the assets of the company to the Nigerian government. (Emphasis within a year) As expected, the British were caught off guard, not understanding the motive behind the policy, the British thought it was a dream or a joke that will go away, particularly given the fact that they just won the war against the Igbo for the Yoruba and Hausa.
After exhausting six months out of the one year in their bid to reverse the decree, the British became frantic and concluded that they could not reverse the decree and went about trying to salvage whatever they could. What was worse was that the British did not even have enough time to evaluate the worth of their ventures because of the limited time the decree allowed, courtesy of Awo and cabal. The situation gave chaos a new name because the British were in chaos. So the first problem the British ran into was limited time that they couldn’t figure what the value of majority of their ventures were, they could not tell how much to sell them for.
Mind you that this was happening within a year after the end of the civil war. At this time the Yoruba was running every conceivable federal ministries, departments and agencies plus all the corporations listed above and more that the British owned. It is important to point out that the North had little or no presence in the commerce economy of the country before the war and after the war except in the military leadership and infantry.
The economy of the country was dominated by Igbo first and Yoruba second before the war. In order to solidify the economic dominance that the Yoruba attained during and after the war and to make their position even more potent in acquiring the British spoils, Awo as the finance minister and chairman of the federal military council and his Yoruba cabal decided to economically emasculate the Igbo understanding
a) That Yoruba was fully running every conceivable federal parastatal
b) That Yoruba was running every conceivable corporation that the British owned or had majority ownership as listed above.
c) That Yoruba was managing all the Nigerian banks, insurance corporations, National shipping line, Nigerian airways, Nigerian’s Ports authority, Nigerian Railways and all the ministries, Departments and Agencies conceivable.
Decided to destroy whatever was left of the Igbo and putting a finishing touch to it by
a) Stealing through confiscating all the millions of pounds that Igbo had in all the Nigerian banks
b) Offering every Igbo person £20 pounds regardless of how many millions they had in the Nigerian banks before the war.
c) Militarizing every part of Igbo land.
d) Rendering every Igbo without exception a pauper.
e) Banning every importation of stock fish and used clothes to deprive the Igbo of any economic ability to compete with the Yoruba in buying into the British assets.
[img]http://junglejournalist.files./2012/10/lagos11.jpg?w=630[/img]
When that day of infamy arrived for the British to start selling their assets, Igbo having been disenfranchised and emasculated in any and every way stood on the sideline watching the Yoruba in their glee as they scrambled to obtain loans from their Yoruba dominated banks to make the most minimal of offers to the British as there were no competitions. The British had no choice but to accept any offer as the alternative was losing everything to the federal government.
The British lost pretty much all their investment to the Yoruba whose stock in trade is robbing and stealing any and everything they can get their hands on. Thousands of Yoruba became millionaires overnight and there was jubilation and owanbe all over Yoruba land. Yoruba had parties day and night and weekends. They closed streets to display their new found wealth as they partied. That day marked the economic death of Nigeria, that day marked the death of Nigerian’s aspiration to join the civilized world.
The implication was enormous and it sent a shock wave throughout the Igbo land, It was a dark history day, it was a day of manifest wickedness and viciousness, Igbo was dumbfounded, the days that followed were days of economic, social and psychological morose and confusion that are still lingering today within the Igbo. It might be hard to accept but Awo got the Igbo good and the country as well, he brought the Igbo to his knees economically at least temporarily and Igbo has never recovered from that one blow seven akpus in any appreciable way but Nigeria as whole is worse off for it. I believe that what was more devastating was that Ibo had no place or body to turn to. To be blunt, Awo decapitated the Igbo leadership and threw Igbo into great confusion.
It is important to note that by this singular act of INDIGENIZATION DECREE engineered by the Yoruba, the Yoruba de facto constituted the new economic foundation, the sole owner and manager of Nigerian economy without any rivals. So, for those that have wondered why Igbo became traders, this is the why. The Yoruba will not let any Igbo near the management of any of these stolen corporations, will not let Igbo buy any shares of these corporations for decades following the heist.
Now, some people without the capacity to comprehend the full seismic implication of this economic shift and restructuring will want us to believe that this does not matter and I will beg to disagree because it is like everything else, the foundation of everything matters and determines the success or failure, be it a house or business. As time has revealed, Yoruba stealing and forming the economic foundation for Nigeria was a bad idea and a monumental disaster.
For the ignorants, all things being equal (in a fair fight) the Yoruba knew it, the British knew it, the Igbo knew it and the world knew it that the Yoruba did not possess the capacity, creativity, drive, perseverance, hard work and the competence to do what some are crediting to it if they did not conspire to steal not only from the British and Igbo but from everybody else that had any assets in Nigeria.
The apparent dominant control the Yoruba has on the economy since after the war was not out of great honest smartness or creativity or innovation or hard work or competence but out of share robbery of the British and Igbo sweat and hard work. I believe that the question that the benign ignorant should be asking going forward is what did Yoruba do with all these assets and corporations that they stole. How did the country fair under the Yoruba management of the Nigerian economy? How did the Yoruba managed economy relate to today’s economic malaise? Hope they can make the connections...... |
