Beware the Dangers of Sado-Monetarism
By BY PAUL KRUGMAN from NYT Opinion https://ift.tt/CmJOrM8
Panel Reveals How Nigeria Airways Staff Embezzled $17.6m Meant For Aircraft Purchase
Two staff of the defunct national carrier, Nigeria Airways, jointly diverted the sum of $17.6million meant for the payment of two aircraft, payment of commission and D-check for a Boeing 737 aircraft. This was contained in the findings by the Justice Obiora Nwazota panel set up by the Nigerian government to probe financial diversion in the former national carrier. The panel, which comprised eight members, submitted its whitepaper draft report to the government on May 8, 2002, and as part of its recommendations, directed the government to force Major General Olu Bajowa (rtd) and Captain Mohammed Joji to refund the sums to the government. For instance, the committee recommended that Bajowa should refund to Nigeria Airways Limited (NAL) the sum of $4.35million, which was deposited for the botched purchase of MD 11 and ATR aircraft. The committee said despite the payment, the sum was never recovered by the airline. The document read: “Government notes this recommendation and her...
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