One Million bank accounts abandoned over corruption.

One million bank accounts abandoned over corruption By News Express on 01/10/2016 With the Bank Verification Number (BVN), which was introduced during former President Goodluck Jonathan’s administration, indications have emerged that over one million bank accounts have been abandoned by those who illegally acquired their wealth. A member of the House of Representatives, Uche Onyeagucha, who disclosed this on Thursday at a workshop on Environmental and Social Security, which was organised by Environmental Right Action and Friends of the Earth Nigeria (ERA/FoRN) in Abuja, stated that BVN had done a lot to curb corruption in the country. Onyeagucha, while urging the Federal Government to introduce Property Verification Number (PVN), equally disclosed that some officials had used the avenue of budgetary allocation for ecological funds to siphon money from the system, challenging the civil society to monitor the fund, as it was a case of direct action. He queried the rationale behind the retention of Petroleum Equalisation Fund (PEF) under the deregulation of the downstream sector of the petroleum industry, saying that PEF would only be relevant under the regulated regime. Executive Director, ERA/FoEN, Godwin Uyi Ojo, urged the Federal Government to bridge the gulf of inequalities and social disparity in the country, pointing out that it was one of the highest in the world. Ojo stated that environmental justice struggles might not be enough to address the challenges, stressing that there was need for social narratives and indicators relating to issues of poverty, income distribution and redistribution. While explaining that security and welfare of the people should be the primary purpose of government, he challenged Nigerians to make this practical and functional, stating that it would create opportunities for unlocking creative potential in the production process. According to him, the sustenance of social security could transform the lives of the poor with multiplier effect, stressing that an “economy that is experiencing recession requires injections in the form of government spending to stimulate economic activities.” He said: “This underscored the importance of National Basic Income Scheme in Nigeria at this point in time. Socio-cultural-extended family system in the African setting needs to be preserved by reducing the burden of the safety nets of dependency and communal living which entails mutual benefits. “The Nigerian population has been experiencing persistent growth and a greater percentage of the population is dependent. Percentages of employed Nigerians to total population were approximately 33 in 2010, 34 in 2011, 32 in 2012, 34 in 2013 and 37 in 2014. The implication is that 67%, 66%, 68%, 66% and 63% of the population were dependents in 2010, 2011 2012, 2013, 2014 and 2015 respectively.” (Independent) Source News Express