Jackson Ude, a Nigerian Government critic and social commentator has on Thursday expressed doubt about President Tinubu's intent to repay a certain N7.3Trillion borrowed from the CBN.

"The Ways and Means is Bola Tinubu’s meal pot. That is where he goes to steal as much as he wants. In six months, he has collected N7.3trillion. And he is not done.
Ways and Means is an account domiciled with the Central Bank of Nigeria where Government goes to borrow to fund projects. They are supposed, by laws to pay back.

"So far, in six months with nothing visible to show, Tinubu and his gang of cro*ks have collected N7.3Trillion from the Ways and Means and they want more.
Ironically, they are punishing members of the Mohammadu Buhari’s administration for stealing from the Ways and Means," Jackson Ude said in a post he made on his X page on Thursday.

"To be on the safe side, he is now requesting the rubber stamp National Assembly led by cro*ks like himself for securitization of the N7.3Trillion they already cashed out. What this means is that, Tinubu and his g*ngs are not ready to pay back the N7.3trillion. They would ask for more and ask for securitization. Until they are kicked out of office, every money collected from Ways and Means would be securitized so Tinubu won’t have to pay back," Jackson Ude further said.




Source: https://naijagg.com/bola-tinubu-wont-pay-back-the-n7-3trillion-already-looted-jackson-ude/

Please where is David Hundeyin. This Jackson dey out shine am o.

This is a very stupid article. N7.3 trillion 🤣

Borrowing through ways and means simple means that the government is printing more money thereby causing inflation by pumping more money into circulation.

greenermodels:
Borrowing through ways and means simple means that the government is printing more money thereby causing inflation by pumping more money into circulation.

Printing and converting them to dollar. Thereby, making the dollar scarce and rise in value. This is my suspicion.

Exactly the kind of trash the political extremists called Obidients would like to hear.

The more you look the less you see

Zxcvbnmghtr:
Please where is David Hundeyin. This Jackson dey out shine am o.

Buhari and his empty supporters now agbadorians are the problem of this country.

Like failed buhari like clueless tilumbu

Are “Ways and Means” Loans?

There have been several arguments as to whether ways and means should be described as loan or something else. Many have contended that it should not be considered as part of Nigeria’s loan profile.

But, let us examine the meaning of loan? Investopedia, a business and investment dictionary, defines a loan as “a type of credit vehicle in which a sum of money is lent to another party in exchange for future repayment of the value or principal amount.”

Hence, ways and means are clearly loans that should be repaid. In fact, Section 38 (2) says “all advances made pursuant to this section shall be repaid as soon as possible…” The section also says that it should be repaid with interest.

However, outgone President Buhari smartly got the approval of the Senate and securitised the ways and means. These loans will thus be converted into long-term bonds and be sold to the investors, including you. How smart can that be?

Implications

There are several implications of this. First, it is a violation of the Nigerian laws, which must not be condoned. It means the Federal Government or any president in power can violate the laws and get away with it.

Two, ways and means increases inflation by raising liquidity in money or capital market. Money market is a market where short-term instruments are traded. Examples of such instruments are treasury bills and mutual funds. On the other hand, the capital market is a market dealing with long-term instruments such as bonds. It also means a market where bonds and stocks are traded.

By securitising ways and means, rather than pay back to the CBN, the Federal Government simply puts too much money in the money or capital market. For instance, when you advertise a bond of N11 trillion value, investors will trade them -pay for them. This naturally increases liquidity in the economy.

It makes more money available in the economy, thereby fuelling inflation. The World Bank has also accentuated this position, stressing that “between 2020 and 2021, inflation left about eight million more Nigerians below the poverty line by increasing the total number of poor people to about 90 million.”

In other words, the CBN is part of the party that has worsened inflation in Nigeria in the last six years. The ordinary man in the street feels the pains of rising inflation rates in the form of high cost of living.

More so, it increases Nigeria’s debt servicing burden because each loan taken must be repaid with interest – however low. This leaves little resources for infrastructure and development programmes that will benefit the common man.

Also, it leaves Nigeria with little capacity to innovate. If the president can easily run to the CBN for loans without repaying, the capacity to leverage revenue avenues will reduce. This makes it hard for any government in power to fund programmes that can improve livelihoods.

So, what should the new sheriff in town, President Bola Tinubu, do with ways and means? Simple, devise more proactive ways of raising revenue and give the CBN some space.

BossGerald:


Buhari and his empty supporters now agbadorians are the problem of this country.

Like failed buhari like clueless tilumbu

Did you watch AIT this morning? Between 7 and 8 am? I couldn't believe the appraisal Tinubu got.

The question still remains where is David Hundeyin?

Zxcvbnmghtr:


Did you watch AIT this morning? Between 7 and 8 am? I couldn't believe the appraisal Tinubu got.

The question still remains where is David Hundeyin?

Appraisal from paid jobless people like you

Did you people not praise buhari for 8 wasted years??

plessis:

Printing and converting them to dollar. Thereby, making the dollar scarce and rise in value. This is my suspicion.

normally,our politicians converts their loots to dollars so it's not really a suspicion.

GreenAgain:
Are “Ways and Means” Loans?

There have been several arguments as to whether ways and means should be described as loan or something else. Many have contended that it should not be considered as part of Nigeria’s loan profile.

But, let us examine the meaning of loan? Investopedia, a business and investment dictionary, defines a loan as “a type of credit vehicle in which a sum of money is lent to another party in exchange for future repayment of the value or principal amount.”

Hence, ways and means are clearly loans that should be repaid. In fact, Section 38 (2) says “all advances made pursuant to this section shall be repaid as soon as possible…” The section also says that it should be repaid with interest.

However, outgone President Buhari smartly got the approval of the Senate and securitised the ways and means. These loans will thus be converted into long-term bonds and be sold to the investors, including you. How smart can that be?

Implications

There are several implications of this. First, it is a violation of the Nigerian laws, which must not be condoned. It means the Federal Government or any president in power can violate the laws and get away with it.

Two, ways and means increases inflation by raising liquidity in money or capital market. Money market is a market where short-term instruments are traded. Examples of such instruments are treasury bills and mutual funds. On the other hand, the capital market is a market dealing with long-term instruments such as bonds. It also means a market where bonds and stocks are traded.

By securitising ways and means, rather than pay back to the CBN, the Federal Government simply puts too much money in the money or capital market. For instance, when you advertise a bond of N11 trillion value, investors will trade them -pay for them. This naturally increases liquidity in the economy.

It makes more money available in the economy, thereby fuelling inflation. The World Bank has also accentuated this position, stressing that “between 2020 and 2021, inflation left about eight million more Nigerians below the poverty line by increasing the total number of poor people to about 90 million.”

In other words, the CBN is part of the party that has worsened inflation in Nigeria in the last six years. The ordinary man in the street feels the pains of rising inflation rates in the form of high cost of living.

More so, it increases Nigeria’s debt servicing burden because each loan taken must be repaid with interest – however low. This leaves little resources for infrastructure and development programmes that will benefit the common man.

Also, it leaves Nigeria with little capacity to innovate. If the president can easily run to the CBN for loans without repaying, the capacity to leverage revenue avenues will reduce. This makes it hard for any government in power to fund programmes that can improve livelihoods.

So, what should the new sheriff in town, President Bola Tinubu, do with ways and means? Simple, devise more proactive ways of raising revenue and give the CBN some space.

nice analysis but na " statistics we go chop?" Pun intended.

BossGerald:


Appraisal from paid jobless people like you

Did you people not praise buhari for 8 wasted years??

As in ehn . . . They licked buhari's nyash clean

BossGerald:


Buhari and his empty supporters now agbadorians are the problem of this country.

Like failed buhari like clueless tilumbu

Just like you Failed & Clueless Almijiri waiting for them to better your existence?

SeeWahala:


As in ehn . . . They licked buhari's nyash clean

Lazy Almijiri you are indeed shameless, you want us to believe that it is because of Buhari you are still in poverty?

Burob:
Lazy Almijiri you are indeed shameless, you want us to believe that it is because of Buhari you are still in poverty?

Shhh wait there's something on your teeth . . . Wait let me remove it for you . . . Come closer, open your mouth, say aaaahhhh . . .

Mschew . . . It's just a strand of public hair from the crack of buhari's old black arze

Good job on the sanitation anyway. You tried your best. Now go and brush your teeth.

I like this Jackson oodensin. He knows how to press the mumu button of his people. He knew that his people are the most gullible and foolish people on earth (apologies to Nwazuruike). He knows that the same people that believed Buhari was dead and cloned could believe anything Where is David hyundai? He has been long that he pressed mumu button of his followers. Hahahahaha

Hmm 🤔

Before nko? No be crooks dey govern us

Okay

You're defending your corruption

Raskimonojendor:
This is a very stupid article. N7.3 trillion 🤣