Why CAC Will Never Work 2.

 By Che Oyinatumba

Nigeria is a conglomeration of fraud and an interesting place to live. I shall refer you to the defence of ex-president Obasanjo as reported in THISDAYNEWSPAPER of Monday 12th May 2008 at pages 10 & 12. All those calling for OBJ’s head should read this. OBJ rekindled my faith in him as an elder statesman. If fact his response showed that it was not the responsibility of the president to verify the legal status of a company. So those shouting that OBJ awarded contract to  ghost companies and some with share capital as miserable as 200 Naira, should ask CAC and lawyers involved in conducting the search before these companies were allowed by the bank(s) to open a current account. This light shone on CAC (regulatory body for registration of companies), brings me back to the situation at CAC.

 I need not to remind regular daily contributors to CAC that things are not working. I have elected to do siddon look but the lie I read in today May 15th LEADERSHIP NEWSPAPER at page 30 titled FG,H/Com’ttee Commend CAC, gave me goose pimple. I wonder if this reporter knows where CAC is. But further reading showed that the FG/House Committee on Commerce were commending CAC for prompt remittance of operating surplus. Interesting. With dead computer and dilapidated photocopiers, why shouldn’t CAC remit surplus? I challenge the Leadership reporter to come to CAC, investigate and do a balanced report. The world needs to know that the claim by CAC as advertised on a mast inside the Head Office is a fraud. I have never gotten availability in less than a week. I can state this on oath and produce evidence of GTB tellers. For customers of CAC, this is another reason why CAC is not working. Instead of having the interest of customers at heart, the management is concerned with keeping their job by providing holiday spending money for the government. I have in my possession a letter written to CAC by the Finance ministry dated 20th February 2007 and received by CAC on the 26th of February 2007 with Reference number BO/REV/12235/S.259/Vol1/107 where among other paragraphs, it reads ¦that projected operating surplus of N250 million for 2007 has been stepped up to N350 million as a result of the independent revenue target of N86 Billion approved by the National Assembly. To make sure that revenue are made available for the execution of government projects. As lawyers will say, I put CAC to the strictest proof to deny this letter. For customers of CAC who has been wondering why names are carelessly denied, this is one of the reasons. Your 200 Naira counts and if you check the number of times you will generate a name before approval, you will appreciate why CAC can never work.

 The only mega government activity in 2007 was the PDP arm wrestling that hoisted a candidate that did not campaign on us. Well over a year, this candidate has done nothing but to constantly go to Germany to cure cold!

I am not deceived that things will improve at CAC with this crop of leadership who receives award from students. How low can things degenerate to in this country? National Association Of Nigerian Students (NANS) that ought to be checking the excesses of those in government, have constituted themselves into a questionable award giving agency. I want to know which of the cutlass brandishing fraction of NANS paid CAC a visit. My anger is against the lawyers. Its when the cat is away that mouse will play all sorts of makosa in your bedroom.

These NANS boys saw that you guys are sleeping and have not put your penis together to piss out a foam and challenge the tales of CAC is working that is being parroted by RG and his paid agents. Let all lawyers arise and show the world the rot in CAC. Line of action, write to Senate Committee on Commerce complaining of the situation at CAC. On my own part, I will submit a letter to the National Assembly on Monday.  

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