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Diaspora Nigerians Left Out of BVN Program

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Monetization of Nonperforming Assets of Nigerians in Diaspora, Panacea to Reviving Nigeria's Recession-Bound Economy - Christopher Okoli
Monetization of Nonperforming Assets of Nigerians in Diaspora, Panacea to Reviving Nigeria's Recession-Bound Economy - Christopher Okoli
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Diaspora Nigerians Left Out of BVN Program

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Diaspora Nigerians Left Out of BVN Program Diaspora Nigerians Were Overlooked in BVN Rollout, Despite Extended Deadline, Critic Says   Poor Governance Threatens National Unity   Over 40 years of poor governance now threaten Nigeria’s unity. Falling crude oil prices and an empty treasury have exposed the consequences of neglect. The government failed to plan for population growth, leaving millions stranded abroad without support.   Diaspora Nigerians Underutilized   Nearly 10 million Nigerians live in North America, yet fewer than 10% joined the BVN program. The initiative aimed to eliminate illicit bank accounts, but it ignored a key asset—Nigerians abroad. These citizens hold vast, untapped nonperforming assets that could help rescue Nigeria’s struggling economy.   Tap into Diaspora Wealth   Monetizing diaspora assets offers a way out of recession. It’s not just a financial strategy—it’s a way to stabilize democracy. Nigerian leaders must act now to bring diaspora resources into the national economy.   Embrace Unity, Not Division   Ethnic groups demanding separation should consider the power of unity. Countries like China, India, and the U.S. have prospered through population strength. Nigeria needs to renegotiate its national structure to build a system that works for all ethnic groups—not break apart.   Policy Making Must Be Strategic   Policymakers must stop acting without direction. They must focus on clear goals, not shoot aimlessly and hope for results. Only well-targeted, result-oriented policies will fix the economy. Poorly thought-out policies belong in the trash.   Economic Crisis Requires Urgent Action   President Buhari now faces a critical battle. Financial, social, and economic forces threaten to push Nigeria deeper into recession. Tribal tensions must be managed carefully, as they could spark greater unrest.   Prepare for Global Recession   The global economy is expected to enter recession by late 2016. Nigeria must prepare now. President Buhari and the CBN governor need to rethink their fight to save the Naira. The costs and side effects are already damaging—and things could get worse.     —   Christopher Okoli Nigerian-American trained Investment Advisor    

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