Political Hysteria – Alex Ajayi | GOVERNMEND

0

Alex Ajayi reported:

Since the inception of the fourth republic, Nigerian citizens have always been waiting anxiously and looking forward to good governance every single year. Since then, the pattern has always been that every former president is later assumed to be better than the current of any regime till than the current president. People wait to see what happens next, either pessimistically or optimistically. The fear of experiencing yet another bad regime, the hope that the next would be better, year in and out. The anxiety every year waiting for the government next move. All these are quintessentially what is called political hysteria.

The reason, as already stated before, being the failure of each government that has reigned ever since. Now a government is not just a person, it’s a body of individuals. And we must agree that the head of the government maybe fails if his government fails. Probably, the members of his cabinet are not having the same appetite for change as he is and so, failure is bond to happen. Whichever way, the head of government is in charge and should get hold of the wheels

However, the political party on whose platform he contested, the leaders would definitely want to have a say on whatever decision he’s making, and most time, they might be contrained to object whatever they demand of him. These are pointer to the fact that we can’t really blame a single person for the failure of a government, but as much as the president by the virtue of his mandate accrued some power, he should and must be in control.

On the other hand, few days ago, I read something about a political party selling nomination form for Local Government chairmanship aspirants for N2 million whereas the annual salary of a chairman is barely over a million Naira, such person would then have to spend more to generate supporters for the primary election, after winning he’d then have to buy a candidacy form from the electoral body and then again set out to gain favor from the voters who are also the people he’s meant to serve in whatever position he’s contesting for.
Considering the amount of money he’d have spend, his annual salary for 4 years won’t be enough and because of that, the race to recover what’s been lost and even more would start. The service will then become only a second thought as he’s been forced to cater more for himself and his immediate supporters, he would either deliver little or nothing. As much as he’s at fault for not putting service first, the system must also shoulder some blame for creating a really hostile political environment.

If things continue this way, there will never be any change. If these are the problem, then what are the solution? Any solution obviously demand going back to the source, politics should be positioned to help birth good governance.

Copyright: GOVERNMEND

BF Borgers, an accounting firm owned by former US President Donald Trump, has been accused by the Securities and Exchange Commission (SEC) of engaging in widespread fraud and operating a “sham audit mill.” The SEC alleges that BF Borgers committed “deliberate and systemic failures,” including the fabrication of audit papers and false assurances to clients regarding compliance with accounting standards.

This fraudulent activity, described as “massive,” occurred between January 2021 and June 2023, impacting over 1,500 SEC filings and more than 500 public companies. As a consequence, the SEC has permanently barred BF Borgers from practicing as accountants before the agency and imposed a severe penalty, including a collective fine of $14 million against the firm and its owner, Benjamin Borgers.

In a statement, Gurbir Grewal, director of the SEC’s enforcement division, declared that Borgers and his “sham audit mill” have been permanently shut down. The SEC has notified public companies that engaged BF Borgers to seek new accounting firms.

Trump Media & Technology Group, chaired and majority-owned by Donald Trump, was among BF Borgers’ clients. While Trump Media may be the most high-profile client, BF Borgers served around 350 clients subject to SEC rules during the mentioned period. However, the SEC review only examined BF Borgers’ work for public companies, excluding its services to Trump Media when it was private.

Trump Media, despite its significant valuation on Wall Street exceeding $9 billion, generates limited revenue. Its social media platform, Truth Social, faces challenges, with a notable decline in average daily active US users on iOS and Android in April. Despite this, Donald Trump remains a prominent user on Truth Social.

In response to the SEC’s actions, a spokesperson for Trump Media expressed readiness to collaborate with new auditing partners in compliance with the SEC’s order. BF Borgers did not provide a comment on the allegations.

In summary, BF Borgers, owned by Donald Trump, faces severe consequences following accusations of fraud by the SEC. The firm’s practices, characterized as a “sham audit mill,” have led to permanent suspension and hefty fines. Trump Media, among BF Borgers’ clients, is navigating challenges despite its substantial valuation, particularly with its Truth Social platform experiencing a decline in user engagement.

Leave a Reply

Your email address will not be published. Required fields are marked *

Social media & sharing icons powered by UltimatelySocial