POLITICS WITHOUT ETHICS: The Much Talked about 500 million Euros & Debt Buy off: the Apparent Falsehood -By Joseph Odok

POLITICS WITHOUT ETHICS: The Much Talked about 500 million Euros & Debt Buy off: the Apparent Falsehood -By Joseph Odok

Joseph Odok|13 November 2015|2:21pm

It may be true that Ayade has good intentions for us. Though extravagant, flamboyant and sanguine, he is surely energetic and full of youthful exuberance.
Be that as it may, his body language seems to tell story of a desperate person poised to run a government built on falsehood. No wonder the
Ayade paid attack dogs have always vented their venom on anyone who dares to cover obvious falsehood in most of his statements.

The Ayade's government does not only stop at paying his attack
dogs to openly attack critics but go the extra mile of paying heavily to hack phones of critics to stop their
operations. One of the reasons I have been offline is due to attacks on my phone but now I have got a
new one and urge the attack dogs to do their normal hacking.

Over time the attack dogs have not
stopped making our names object of discussions in bear parlours, brothels and government house. I have not doubted the desperation of Ayade. This is so because he does not stop short in his mission but facades them with the best of intention. In my judgement Ayade is on a mission to recover money
spent to buy his mandate from emperor Liyel Imoke. Sensing cross river state to be getting wiser, Ayade set out to buy the media. He thought he could also buy the the journalist. Owing to perceived ineptitude of his media team, he extended a hand of
friendship to journalist, often inviting them to a media parley. But Ayade was shocked when his
perceived friends blew a confidential discussion were he alleged to be running the state from his
personal monies. This left his media team disenchanted and disarrayed.

With the betrayal from the journalist, the only option left for his quack and defeated media team was a metamorphosis into attack dogs having failed to defend his many falsehood and exaggerations. Over time the media team have remained dwarf in the face of criticisms.

Thank God for Ifere Paul my bosom friend and Chief Okoi Obono-Obla my mentor that have done much
in uncovering the falsehood of the governor. Cross River State is bleeding dry and we must all join to
uncover the falsehood that will make opportunist take advantage of our vulnerability or abuse our
sensibilities .

One of the over bloated lies that once hit the media in the early days of Ayade was the debt buy off by
Morgan Stanley. Thank God some of us remained consistency in putting the governor to task in the story of debt buy off and today, the story has died a natural death. Come to think of it, which country or investor will play a father Christmas role to buy off over 400 billion naira? For what consideration? Worst still, the debt was incurred by Nigeria known
world over to be wasteful and never to be trusted.

Another lie still making the rounds and forming the fulcrum of the Ayade's deceptions is the 500 Euros
million to be made available by Broad Spectrum Investment Ltd for the execution of the signature
projects. Investigations by Ifere Paul and myself revealed that Broad Spectrum Investment limited is a
Port Harcourt based company that was registered only in the year 2000 with a share capital of 200,000.00 and in the first quarter of this year the company raised it shares capital to 5million naira. The total share capital as of Broad Spectrum
Investment Ltd as at October 2015 stood at 5.2 million naira. A visit to the corporate affairs commission will settle the skepticism of any one
that dares to doubt us.

It is worthy of note that the governor on his inauguration day pointed at investors who he claimed were ready with 500 million euros. He even waved at them in the presence of those that attended the inauguration ceremony. Come to think of it, which investor can invest such an amount to a state that is known to be in a debt ranging above
400 billion naira? Can a company verified to be having a share capital of about 5.2 millions raise about 500 million Euros: that is 800 billion naira Nigeria equivalent? Last month a corporation as large as NNPC set out to sourced for 500 million dollars with much vigour
and till date such funds is yet to be secured. Let us not forget NNPC has its many collateral and share
capital. Yet Ayade with no collateral is telling us a story of already securing a loan of 500 million Euros
surely more than amount sourced with much difficulty by NNPC. Is money that cheap to let go?
Ayade must be a magician. In the same vein, which investor will let go such an amount without directly being involved in the
construction and monitoring of the said project?

What gets me crazy is the other aspect that suggest that the investment company is likely to
make the monies available to some companies as determined by the governor. Come on, which
company is so blind to the low standards and cut corners of Nigerian leaders to entrust such a huge amount without fear of mismanagement? I think our
governor and his media team need to convince us more on this

My next take is on the lies about feasibility studies completed. We are aware that one of the reasons
the president cancelled his first visit was because there was no feasibility studies of the super high
way project. A standard feasibility studies does not take less than three months. Which company will
undertake a project that it has not understudied its risk and benefits? Our governor must tell us more
to convince us.

Investors are always drawn by capitalisticideologies and the search for profit is their goal.
How long will it take the governor to recoup 500 million Euros plus the profit and other charges? Can
a people known for much poverty, unemployment etc be able to generate such an amount plus profit
to pay back. How many years of tax will our people be subjected to before they can raise such an
amount? My attempt are honest. Liyel Imoke tricked us, and so we must be honest. I love Ayade and only beg that his media team assist to clarify my doubt not minding my language. It will help the governor to be more transparent as CRS is in too dire a condition to play games with its future.

Long live Ayade!
Long live CRS!

Joseph Odok
Is a University Don & Legal Practitioner