Booty Capitalism

Jibrin Ibrahim in 234Next:

The Sanusi Lamido Sanusi revolution in the financial system has revealed the extent of this booty capitalism and that is why they are after him. We know that a single individual who is the managing director of a bank will give himself a margin loan of 16 billion Naira, use the money to buy shares of the bank he works for and by that act becomes the main owner of the bank.
That individual has no interest in lending to industry or to commerce. He has no interest in serving the interest of the millions of people who had been encouraged to invest their had earned cash in bank shares. That individual becomes a dangerous agent of destruction whose life purpose is using the office for self aggrandisement. The Soludo banking reform was the final death knell to the possibility of capitalist development in Nigeria.