A lawyer and chattered accountant, Dr Gbenga Adeoye, says naira has developed a stroke following the free fall of Nigeria’s currency against the dollar.
He said this in a statement titled: “Kakistocracy: The Cause of Underdevelopment in Nigeria & Africa.”
The economic expert expressed concern that allocations to many states were not used for infrastructure, as political leaders only change the allocations to dollar and keep them.
This, he attributed to why naira has developed stroke against the dollar.
“Falling is even better but right now, it is stroke. We need experts to change this but if we don’t stop corruption; Naira will remain on the floor,” Adeoye said.
Adeoye said “The level of stealing every month in Africa can be regarded as greed turned to insanity. Those who do such are the worst in the society.
“They are abnormal.”
He insisted that “we must end Kakistocracy to develop Africa and Nigeria. If we get it right in Nigeria; then Africa will rise again.”
He described Kakistocracy as “a government by the worst persons or a form of government in which the worst persons are in power.”
The chattered accountant offered 13-point solutions to change the situation in Nigeria and Africa.
These include assembling well-educated men and women with second address of legitimate business and not people who want to use politics to become wealthy, those who respect the rule of law and fear God.
“Finally, men and women who fear God and will not pursue the acquisition of unexplainable wealth. If we have these thirteen qualities in those leading us, Nigeria and Africa will be great.
“It is time to end Kakistocracy and let us flush out those that are incompetent at local, state and Federal Levels. If we do so, Nigeria and Africa will rise again,” Adeoye said.
