Seminar Papers

TALKING THE LCM OF MONEY ECONOMICS AND FINANCING: GLOBALIZED ENSLAVEMENT.

A PAPER PRESENTED BY: DR. T.F JEMIRIYE of the Department of Religious Studies, University Of Ado-Ekiti, at UNIVERSITY OF LAGOS, LAGOS On November 10th – 12th, 2004. Theme: FINANCIAL LIBRALIZATION AND GROWTH IN DEVELOPING ECONOMY :A REASSESSMENT

I. Intoduction

The world as a global village has been preached by all disciplines of life in many lofty and high trems expressions and principles. Globalisation is one in this direction. Many professions and elaborately organized seminars, conferences – be it local, national or international have all addressed it. The resultant questions have always been the same: what are the “lowest common multiples” (LCM) on the lives of the majority of the masses in the so called global village over a chosen period of time?

The focus of this paper is life in Nigeria within the 1960s and 2004 in terms of the international value of the Nigerian money (pound or Naira) for the above average-…. Nigerian. The thesis, simply put, is that most of professionalisms have been abused and are now used as agents of enslavement and of inhumanity of man to man. These are done mostly by the use of robust terms like internalization, globalisation, space ship earth, global village, the web, highway tech, information technology and many economic theories. Now a peep into the LCM situation can be explored.

II. A peep into history

Slavery at the first time was man of one domain overpowering another one- largely physically- and using the captured as a tool! Whether by the inter tribal wars or the global wars, the principle was similar – domination. Man never accepted the man as a fellow created being. The man of “colour” was the mostly affected. The man of colour was set against himself. The white man used the black man against himself. The best in physique who could stand the wars and the ordeals of the ocean got carried away and were sold- given a global economic value in the new world. The LCM of the relationship was slavery, death (physical, economic and otherwise) and dehumanization to a side while the other side had the acclamation of being the one with the know how! The first system of global slavery ended with the proclamation of the charter for the abolition of slave trade. That was when the system was fast becoming counterproductive to the class of America.

Then the writing “Slaves, obey your masters” could be read to mean “white slaves , obey your black masters” and not necessarily “black slaves, obey your black masters”. The LCM of the reversing brought an uproar and challenge to the commoner in America. They were the people of colour who were segregated against, who had no recognition, land nor power. They are found in America today as the most problematic class whose LCM are to be determined.

The new enslavement philosophy is not to take the best physique. No. It is to take the best brain! After all death is defined by the inactivity of the cortical tissue of the brain (a percentage of less than a quarter of the brain and far less than 5% (five percent) of the whole body). Thanks to people whom for what ever reason mentioned reparation for the first slave system. The mention brought about shame, challenge and resort for a better method. Shame because the inhumanity of man to man was exposed and it negated the many lofty Western religions ethics of “ be your brother’s keeper ”. Challenge because the slave keepers needed to maintain the riches or loots of the inhumanity, hence the search for a better method! The new method is the free visa, green visa segregation, visa lottery and many other sugar coated piles of slavery now brandished to the naďve commoners of the global village! Again, the thrust is against the man of colour! That is a peep into the history of the LCM of living for most of the people in the global village but have they fared better in its economics?

III. Economics and Financing as instruments of enslavement in globalization.

The target of Economics is to make a viable flow of life by the exchange of resources. This may be putting many high sounding principles in macro and micro economics and in econometrics or financing to too low common multiples, but the stated principle can not be avoided as the final analysis of human relational economics.

But the result has been the maximalized profit syndrome where a few individuals or a few states are richer than the whole nation or even than the global village! How is this to be entertained in terms of its LCM? Global economic fortification has made the inhumanity of man to man colossal hence the LCM impossible to live on!

In Nigeria, in the 1970s, the Naira was much stronger than the Dollar! In 1979 precisely, the Naira was twice the Dollar. I remember precisely that in 1979, 1 exchanged N500.00 Basic Travel Allowance (BTA) for $980.00 in an Ile-Ife Bank. The LCM of the economy to Nigeria was simple. The pay for marking School Certificate examination, just about N230 – N250.00 bought a return ticket to Canada – Toronto airport precisely. These were the LCM of the economics then. Today, the LCM of these two study cases is out of scale. The same N500.00 can not be changed to give ordinary $5(five dollars) while the payment from the same marking exercise of School certificate may not pay an ordinary boarding fare or even the taxi fare to the Airport, but never the air ticket to Canada which is in the N200,000.00 plus ranges.

This is the beautiful economic/ financing development of Nigeria within the Globalized economy. More examples abound.

IV.Some fundamental Examples of Nigeria within the Globalized economy: Cases of global economic conspiracy!

1. Cost of Training

Nigerian Universities are poorly funded. Yes, they are. The products are half baked – at least by the globalized rating, but the outside globalized system will rather make the best of the Nigerian University product to service their deficiencies, do less standard jobs abroad and pay them dehumanizing amount in Dollars! Yes ,dehumanizing! After all their home economy can not pay as much in terms of figure! (mind you, not necessarily in terms of worth of life, standard of freedom or in quality of humanness!). It must be noted that it is cheaper to produce a University graduate in Nigeria than in Britain or America, in terms of cost, hence with the weapon of blackmail, the products would always be raked into slavery of a second class individuals. After all, thanks to the outspoken groups like the K.K.K (Klu Klux Klan). A graduate can then and therefore be shipped, sorry now flown, to America for a lowly mean job! How globalized is then the fairness of the economic system to Nigeria and Nigerians in terms of the LCM and as reflected in the living of the people?

2. Value system in globalization!

Nigerian value system in terms of community acceptance, communical assistance, living together were gradually eroded over time in the globalized world and they were replaced with high sounding but selfish econocentric principles. Principles like “Survival of all is the survival of one” is replaced by “survival of one is all that is necessary”. The Akodi consciousness of “we all will survive together or we all will die together” was destroyed as “uncivilized” and replaced with the “isolated self contained” system, be it in the hut or in the high- rise condominium. After all one will sell fewer sets of eletronics hence producing a poor economy with a united people and the other will sell many sets of the same electronics but will produce a bunch of unrelated individuals and a great profit – a better financial management I guess!

Again the LCM is that the globalization of economic twist has dealt uncurable death blow to the moral value system in Nigeria and Africa to the smart advantage of the others in the so called same global village.

A case that easily comes to mind is the rating of Nigeria in honesty by most outside bodies! The questionnaire, yardstick, result will always be as wanted! After all the principle of designing any instrument is to achieve a wanted result! The Yoruba people will say

“A gbe epo laja nikan ko ni ole
Eniti o ba a gbe sile pelu, ole ni”

meaning in principle
“It is not only the active rogue that is a thief,
the accomplice is equally a thief”.

When Nigerians, Africans come with loots from “unknown” sources to bank in foreign lands, who is the greater culprit – the rogue or the banker? By Yoruba value system, both are thieves! The LCM of financial houses declining profits in the millions, at the blood expense of high lending rates that kill all manufacturer are of the outer global interest. The globalized interest that will kill development, create no work within Nigeria and lower the value of the Nigerian living are the unwanted standards with the Globalized system in Nigeria.

3. The No work within Nigeria – a Global conspiracy.

It is almost an affront to say that the no work within Nigeria is part of the economic globalized conspiracy but sadly enough, it is the unavoidable reality. A look at four examples will bring the lessons home.

(a) The Oil refineries:

This is the nerve center of the world economy no matter the pretence to attempt dodging the reality. If oil refineries in Nigeria should work, and should work efficiently, Nigeria will be self sufficient. It has the raw oil and if it can refine, where then can the outsider enslave Nigeria? The only way is therefore to ensure in all ways that the refineries and related front line industries like petrol – chemical related industries and steel never function. The details as to whether insiders, outsiders, mercenaries or hired detractors in form of policy makers are involved is of no significance. The LCM is the same – the main line industries must not be made to work. QED. That is the interest of the larger outsider in globalization.

(b) Power (PHCN).

It will be very myopic to expect NEPA to work in Nigeria within the globalized system. If NEPA should work 24 hours a day and distribute efficiently to all commoners, then the unemployment will crash to insignificance. I mean insignificance within Nigeria, and will be very significant outside Nigeria. Within Nigeria productivity will go up, system relying on electricity – fridges, laboratories, coolers, power driven motors, sawmills, welders of various levels will function. Billions, if not trillions of Naira or Dollars will be saved from sales of toys like chargeable lamps, candles, matches (that are unknown in some parts of the globe) to expensive wastes like computer ups for storing short time currents, all the smoking noisy and noiseless generators and such like! Can one really imagine how many of the junk manufacturing industries will close down if there is no market for such in Nigeria? This the Globalized economy – financing – to the stunting of Nigerian growth.

( c ) Hospital and Drugs!

By the same reasoning as in above, why Nigerian hospitals are to be largely first aid centers are easily understood. It is not just an economic – no fund – issue! The globalized concept must make Nigerians travel abroad for Medicare, there by, not just spending a fortune, but, diverting Nigeria’s fortune into the outside financing. Thanks, recognition and praises must therefore be given to NAFDAC motivators. It is the prayer of the Nigerians that may their detractors and enemies both within and outside Nigeria never succeed in what should be termed the terrorist war against Nigerian LCM. It is known that it is much easier to secure foreign and global aid (fund assistance) to count [note – to count, not cure] the number of HIV/AIDS carriers in Nigeria than fund for production of drugs to cure Malaria in Nigeria. The sample treated NET that kills mosquito is a multi billion Naira financial, more to the benefit of the outside global villagers! One can therefore understand why the sale must be forced down all children of school age – if you care, they are in their millions!

It is worth mentioning that condoms were sold out in Nigeria (and not even promoted in many parts of the so called first world) before it was declared that it did not stop HIV – AIDS germs anyway! Never mind the publicity and advert it was given.

Talking of the LCM, the Dr. Abalaka researches are destined to be fake and false once they are not to be credited and patented XYZ outside Nigeria in the Globalized village! These are all issues of financial enslavement within Globalization.

(d) Policies in Globalization

This is not to be a paper on international relations, but the inequalities and inhumanization in policies of global natures are the faces of subtle but hidden financial enslavement. Again the war industries of the world can be fingered.

What makes it right for A to make guns and bombs, while B can only buy from A at prices dictated by A only? Worse still is when A deprives B of making his guns and bombs by all means, including physical killing and extermination of B! The LCM is finance and economic advantages and interest serviced and maintained.

If it could be asked, what stops C or D from eating what each one wants personally? What right has D to tell C the kind of meat to cook or the number to eat in C’s bedroom? This can only be the right of a master over a slave! This is the right that is being challenged in the eco – financial system of globalization. Thus the gang up against Nigeria, Africa and some other financially depraved people in the globalized system.

V. Some LCM riddles.

In simple language the parables can be put thus:

(a) The Gun Manufacturer:
Supposing you are the only gun manufacturer! There is no other. You make all the varieties of guns – the simple, sophisticated, complicated, non functional and others. You now have to sell the gun to your co-occupant of your room. But the snag is, your roommate will use the gun you sell to him to fight you back.

So the questions:

(1) What kind of gun will you sell to him (if you care, to fight you back)?
(2) If you know he has only Y Naira to use in buying, what will you charge as fees for the guns, more so when he says he will go into debt?

Most in the global village charge Y+T Naira where T is the international debts that generations yet unborn will pay. It is the enslavement of even the unborn generations!

(b) The Sinking Boat.
Imagine the situation when there is a boat (or better still a ship) in the midst of the ocean. All of a sudden the Captain sounded the alarm! The boat is sinking! Then all the occupants of the ship started struggling – really fighting and thereby kill one another – in trying to climb the mast (flag pole) at the center of the boat (ship). By the time one emerged the winner, all others were dead, but alas, the boat just sank! The only survival was the Captain who had the life jacket on. The LCM is the principle of survival of the all, and not of one at the expense of the all!

(c) The Over Pampered Child.
Again, suppose you are very hungry and right in front of you is a child with a big bowl of Iyan, obe Egusi and assorted meat all sending sweet sensations! Then for an immediately unknown reason the child started to cry, weeping – really sobbing. Passers by asked why he was crying and tried to appease the child but to no avail. After a while the child stopped crying and answered – “Eran ni ko je ki’n run obe” meaning “the affluence is causing my inability to eat!”.

The questions are: What will you, as the hungry man do, advise or feel? If you have the opportunity or power will he not take the food away from the child?

VI. Conclusion .

This is meant to be a paper in a conference on financial matters! This paper however lack figures and figures and high sounding, jaw breaking financial and econometric terms. Rather ,it is asking for the lowest common multiple of the figures and terms in the daily living of common Nigerians and Africans in the globalized space ship planet earth.

The submissions are these:

(1) “Ajoje ko dun bi enikan ko ni” meaning “Togetherness is not sweet or really possible when one is lacking and the other in extreme affluence. Globalization without a good measure in equity is a deceit.
(2) “Alakara kan ko fe ki ekeji ko din” meaning “producers of the same goods hate themselves”.
(3) “Eni gbepo laja nikan ni ole” meaning it is not only the burglar that is the thief…
(4) The old values of truth, trust and assistance were destroyed with westernization, globalization and many foreign religions as practiced – when all are reduced to the base line of financial principle of maximalized profit. These are the challenges of globalization within Nigeria and Africa today.
(5) Until Nigerians and Africa are ready to fight and be free, produce on their own terms and …., the economic – financial nooze of / in globalization will continue to be a new enslavement against many groups in the world – especially Nigeria and Africa.
(6) Economic – financial theories must allow native production in genuineness, sincererity and differential.

These are some of the ways financial LCM for the average Nigerian and African can be improved.

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