It takes a lie to cover a lie

What looks like a labyrinth of excuses is sometimes a virtue.  I recall what

happened about 20 years ago in a very big bank in Nigeria.

In the wake of the GSM revolution, many people were taking positions. The Federal Government through the Bureau of Public of Enterprises (BPE) sought to sell 51% of the Shares of NITEL. 

A foreign firm sought loan from this big Nigerian Bank and the loan was granted and the Board of the Bank must have felt satisfied and happy with their Executives for a job well done.

However, as so happens in Business, something went wrong. The foreign company lost the 10% deposit it made to BPE for failure to meet up with the deadline for effecting the payment.

In the process the big bank lost its money and their joy turned to sadness. Now Banking thrives on confidence, whereas the bank was happy when the news of the deal was making the rounds in the Press, now they had to save face.

What to do? To save face, the Board chose to sacrifice their Managing Director and Chief Executive.

The Board claimed he acted alone in granting the loan. Truth be told, the buck stops on the desk of the CEO, but to say he acted alone in granting such a huge loan was an unsustainable lie.

In the end, the Supreme Court ruled in favour of the Managing Director.

The Bank lied and they paid for it.

Today, another lie is cooking. This time not from a bank but from the Presidency.

I had once written an article on the masquerade called the Presidency.

The Presidency in their wisdom nominated a level 13 Officer for an EFCC job that by law is for officers not lower than level 15.

Someone somewhere not far from the masquerade, upgrades this officer to level 14 and backdates it to March 2020.

How clever? The point now is what and how the issue of level 15 will play out?