 Welcome back. It's time to take a look at the papers of what they have to say. I guess there's already a stand by is equaling I took a politician administrator public affairs analyst joins us Live is going to good morning to you. I should have added businessmen Preacher preacher as well Fantastic fantastic all right We'll just stick to the major war up stories from the papers and we'll go into details or more of the headlines as time Permits us we start with the first song we have this morning the nation or the punch in the super rather With the following headlines Governors stop deductions consultants head for French court. They're talking about Pirie's Club refund Governors stop deductions consultants head for French court and NPC meets marketers as petro scarcity bites harder I don't know what the situation is in in a quibble. I'm state There's an avatar out there. It's quite interesting Paul ranks. Oh, be I know as best Annabra governor since 1999 obese plain grounded campaign train six alternative arrangements at some of the stories on the front page of the The punch leadership has the following stories Now the leadership's lead story after leadership reports. I like moves to tackle Campaign spending breaches. It's good to see these initiatives doing investigative pieces to expose certain things and you know control the the conversation Right, so that's interesting one over to the next paper daily trust Which has the lead story 22 and three budget finance ministry on the spot over? 424 billion narrow padding it puts padding in inverted commas I think we can add more to that 206 billion already added to the ministry of Humanity affairs budget quite interesting times and the nation has the lead story electricity crisis governors reject sale of 10 power plants NGF insists on Legal solution to 418 million dollar Paris Club refund fee round I think I took less time with it with the finance ministry story and Those who've been watching I mean for if for the past few days would have been really hammering on this finance ministry issue Because I'm something it's not just right. What are your thoughts on on the situation in the so-called alleged? budget padding again He wearing his ugly head the rudder stood up story says lawmakers decry in sessions Ministry denies allegations. It's a ploy to divert taxpayers funds roughs and Johnny and it's being investigated Malami is has already put his mouth into the conversation I don't know if he is consenting over to user Yeah, you know the issue of budget is one issue that a lot of times I really don't understand There's a process for budgeting. It's a very simple straightforward process it is that of the the executive to initiate They bring it to the National Assembly By my understanding is that of the National Assembly to wait as it were Based on certain parameters of fundamentals or principles Now when this is done They call the people to come and defend so that after they have looked through they would ask a certain number of questions those questions are You did this last year and from our oversight. We discovered that this was still there Why do you still have this year? We don't think that makes sense then all the Big the policy thrusts of government has moved from Consumption economy to production economy. Why isn't there indicative of the policies? Why are we still having this subhead that seems to promote the latter rather than the new direction? You know, they go through all those processes to ensure that the resources that we have match our visions in terms of the direction we want to go as a government and that the cost-reflected indices are such that there is a certain level of Prudence and accountability and transparency and honesty I think this are the jobs that the National Assembly would do and to ensure that You know, whatever Monetary parameters that they are applying, you know within the period are applied in the budget because it starts from the budget At the end of the day They have a public hearing if as it were or get some professional input to ensure that the Resources of Nigeria on one hand and then the expenditure profile they fit a national vision within the period Now this is what should be and the budget is eventually after being scrutinized It is passed and sent the executive to implement such that if the executive for one second deviated from it It becomes an impeachable offense Anything that is an impeachable offense is the highest level of you know, what can never be tampered or toyed with but I really don't see this instead all I find is People from the ministry coming with things that are just so bogus they are so Difficult to understand so opaque and then the National Assembly Coming in with what comes up as their own personal interest Which is always expressed as budget padding and at the end of the day is like dog eats dog You know and who loses its then citizens is a nation and So I really don't know where to start from to answer your question But I think that We need as Nigerians to start to elect people into office that really understand the essence of government which is Service delivery to the people and not to themselves. All this is just a manifestation of you know, private interest state capture, you know personal enrichment All right, I always raised questions about you know the performance of the minister minister of finance I mean because I've always said, you know that in times past one always expects it You know to have a minister of finance who has personality who has a philosophy a style, you know brings something some character to To the the portfolio, but for the current minister of finance always sees she announces how much Nigeria is boring She announces how much Nigeria is spending And that's and then maybe a new taxes, you know, you know to to to be created. She announces, you know How much more Nigerians have to pay us tax and and that's pretty much it if you notice I very not fully dodge that aspect of You know very very important aspect, but I would rather look at things fundamentally and and you know giving giving from a from first principles with respect to our budget, you know processes and them undertakings as per the person of the minister of finance You know, I don't know how the mindset of mr. President is But there's no need to start into interrogate that I had already given myself a commitment that because he signed the Electoral I forget everything is done wrong and I even gave a post that they check that everything he would do wrong till he leaves the office I've already signed up as forgiven. So I won't go back and take my words. I think that she will enjoy that grace till the end of the she has she has To so to bear some of the blame for the state of the economy Especially especially the state of the government's financial, you know, health. Let's call it that When you are called minister of finance Guy that that title is the general over superintendent over our our state with regards to finance and finance is virtually everything about government and Money or guy in charge of money money matters, you know, so for where we are now, you know God made it such that we've had a reference point We once had a lady called madam. Ngozi Okonjo. We were like Let's have a study of her person her interest Approach her Takings and know that we have a reference point. So it's not that we've never had one, you know, and then I think two ladies have stood out in our history Maybe they are more one is Dora Akwili Till tomorrow she's left a mark on the signs of time and the other person is still alive Madam Okonjo. We are not and she's being not just Talked about that rewarded at the highest which is the global stage With the appointment she's got and have you noticed that not one person has come out to precise. I mean, of course little bit I read nobody No way in the world is talking to her with respect to incompetence or inability to occupy the office I think that in profiling the people that we want to have in our offices We need to do a little more work Or who should be a minister of the federal Republic of Nigeria this act of patronage or Pre-benbalism, I know you will not to put it off, you know Kingsman Petron Petronage political Petronage patronage still comes over and over again. I think that We need to check it in the next administration. All right president one worry is a superintendent of Changing Naira notes for the second time in his life After he did so as in the 80s as a military head of state and it seems to be yielding results already In terms of mopping up or reducing liquidity and mopping up cashing circulation Okay, but can I can I just read the read the headline for you because I actually what I have to say But the daily daily trust is saying as Buhari reveals new Naira notes 165 billion mopped up, you know The central bank city has received a total of 165 billion Naira so far out of the the 2.7 trillion Naira Already currently outside of banking system. So it seems is It's working Call it work Or should I say Look, I'm itching on this matter Apart from a literal art the president has given me a sweetener. I Am one of his cheerleaders In this change of currency I'll tell you this my brother watch out The amount of money is it Nigeria can never work Until we have a governance system that understands chapter 2 section 14 section 2b of our Constitution that states that the security and welfare of the people shall be the primary purpose of government and The only way we will get that right is when people who come into public office motivated sent by that desire To serve, you know, until we have people who get into government Based on a desire to serve. We will never get things right Now these people that come based on a desire to serve are usually not always the richest You know, but those who are must a lot of you know, come up to money want to maintain that estate So they have a lot of money so they come into the political space with a lot of Monetary inducement based on what they are stolen I remember going on campaign and a young man said oh god drop the money drop the money I know I stopped I called him I said come let me talk to you. I Want you to know that I've never held any office in this land and That every money I drop here is my private money that my family should be using to eat Number two, I want you to know that I've never accepted any appointment in which case Coming here is a man who wants to serve you Why would I pay you to serve you if you want somewhere that will serve you then pay that person and work with me But if you want somewhere that will pay you money, then be ready to shut off for four years and not let that person Recoup his investment. So it was like, you know, I give credit to the young person What it's like wow, I didn't think of it that way. Okay, it makes sense But what am I trying to relate to what's going on these people have put out so much money for 2023 because of this mop up All that money is going to go back into the system. And luckily it's at a time that we have the likes of Peter will be Adewale of sgp people who are coming so that the coast is open in a quiet on stage people like us I've been able to come in so let us discourse based on your person your character your competence your Capacity your capability your track record on one hand and not how much money you have So as we get into January a lot of the money would have gone back into the bank Okay, and even those who are busy buying dollar buying dollar When you realize that when you come into January and you see Nigerians are always slow They weren't sure that this is people will give them confidence and no worry politicians will make them to change your mind They'll change your mind. You will see that as from today The banks are going to start to have real heavy traffic because they know that the countdown has begun The people are going to tell them no worry. They will extend the deadline until after politics They are lying to people when the reality sets in people are going to be sleeping in banks to turn in the money And what you realize that in by the time we get into January a Lot of the money is in the bank What they now have is dollar a dollar will come down to less than 500 even at 500 What we have is hundred dollar bills at 500 one dollar bill is 50,000 Naira Nobody is going to use one dollar bill to buy votes. Nobody 50,000 is not gonna work So you realize that people are even going to now trade off their dollars for 200, you know for 20,000 You know, so it's like look just give me so that at the end of the day They will not have money to buy votes So election is going to be based on what you're able to give to the people and this the election results are going to surprise many I have said something. Let me end on this note on the election day Let I make almost making mandatory that every major candidate, especially gov. Noshi presidency They must have a doctor in their house with them because many people are going to slump on the results they get Oh my oh my it's clear. It's interesting. I see why I call you a man of God in the introduction because your prophet I mean we've seen a vision Already We have to live with that. I think we've done justice with the time we had you know to the issue is them You're an insider. So, you know better than most what is going on Do some people do not trust it But some people don't trust Yeah, some people don't trust the motives of the central bank governor because he's a card-carrying member of the APC I know maybe this part of the natural penchant of Nigerians to you know, and you know distrust everything and Suspect everything government does but you said it all that this will be for the best for Nigeria Doesn't matter what I may fail is a member of APC or not. Thank you very much for your time Thanks so much. It's a pleasure. God bless. All right. So, so we'll be back with more right here on the breakfast We took a break when we returned the CBN is taking action to control inflation Recently the monetary policy committee met an interest increase the the monetary policy rate to 16.5 percent What does this mean for inflation in the country? We'll discuss this when we come back