Wednesday, October 03, 2007
KATSINA STATE FOUNDATION
I want you to consider this scenario first: they have given you 51 million naira and after fifteen years you report that the money has ballooned to 760 million naira. This is really good news and perhaps you deserve some mention in the Guinness book of world records.
Well that is exactly what one Suleman Dauda Karohi (SDK) claims to have achieved for the KT Foundation. This foundation was established after money was collected in the state back in 1991. The foundation has the benefit of having General Buhari (yes, same Buhari of ANPP) as its chairman. This could mean among other things that prudence, transparency and accountability are the watch words.
Well in a press conference recently, SDK announced to the world his feat and even gave a breakdown of sorts. Initially I wanted to write a congratulatory message to the foundation and to SDK but questions kept popping up in my head that made me to change my mind.
First what was the main objective of setting up the foundation back in 1991? Was it to make money through investments in share certificates? And why shares only since there are other avenues that could give a higher yield?
I do not believe that building wells in rural areas and donating money to Islamiyya schools is such a worthy objective that required KT people to launch the foundation fifteen years ago. If I recall correctly educational development for the state was part of the objective. So SDK ought to have told us what they did in that sector. What schools did they build? What textbooks, scholarships etc.
The long and short of it is that this foundation is swimming in money with no one to supervise them. General Buhari has many things in his hands and may have even attempted to resign the chairmanship. He hardly attend to the affairs of the foundation. As Nigerians we know how such a situation can easily lead to misappropriation of funds at a large scale.
I am calling on the state government to look into the affairs of this body and streamline its conduct in accordance with the original objectives.
Well that is exactly what one Suleman Dauda Karohi (SDK) claims to have achieved for the KT Foundation. This foundation was established after money was collected in the state back in 1991. The foundation has the benefit of having General Buhari (yes, same Buhari of ANPP) as its chairman. This could mean among other things that prudence, transparency and accountability are the watch words.
Well in a press conference recently, SDK announced to the world his feat and even gave a breakdown of sorts. Initially I wanted to write a congratulatory message to the foundation and to SDK but questions kept popping up in my head that made me to change my mind.
First what was the main objective of setting up the foundation back in 1991? Was it to make money through investments in share certificates? And why shares only since there are other avenues that could give a higher yield?
I do not believe that building wells in rural areas and donating money to Islamiyya schools is such a worthy objective that required KT people to launch the foundation fifteen years ago. If I recall correctly educational development for the state was part of the objective. So SDK ought to have told us what they did in that sector. What schools did they build? What textbooks, scholarships etc.
The long and short of it is that this foundation is swimming in money with no one to supervise them. General Buhari has many things in his hands and may have even attempted to resign the chairmanship. He hardly attend to the affairs of the foundation. As Nigerians we know how such a situation can easily lead to misappropriation of funds at a large scale.
I am calling on the state government to look into the affairs of this body and streamline its conduct in accordance with the original objectives.
