Wednesday, 9 May 2018

Lagos-based economist poses 5 questions to Gov Ayade over N20 billion state bond

Efio-Ita Nyok|9 May 2018 

Via his social media thread tagged, 'Cross River State N20B Bond on my Mind', Cross River-born Lagos-based economist, Mr Missang Oyama, has posed four important questions to His Excellency the Executive Governor of Cross River state, Sen. Prof. Ben Ayade bordering on the anticipated N20 billion state bond the state government is about to float in the Nigerian capital market. 

These quadrupled question seek clarifications on the capital market the bond will be floated, targeted investors, insolvency of the state and risk perception. 

According to Oyama, So Cross River State govt is on the verge of floating a N20B bond. The question I find 
extremely galling is: 

Question 1: In which capital market is Gov Benedict Ayade going to float this bond?

Question 2: Who are the target investors? 

Question 3: If Benedict Ayade were on this other side of the divide, will he, as an investor touch Cross River State bonds with a long spoon at this time? 

Question 4: Does he know that if Cross River State had been a business concern, it would have been declared insolvent? 

Question 5: Does he understand the influence of risk perception of investors on investment decisions? Questions and many more questions. 

The economist who labeled Ayade's anticipated floating of N20 billion bond in the Nigerian capital market as 'a ruse' supplied the answer to the first question. He said certainly the Nigerian capital market through the Nigerian Stock Exchange (NSE) won't allow that bond. 

'In the days ahead, I'll be doing a thorough analysis of this latest Utopian economic idea from the "digital" governor for your reading pleasure. Of course, my central thesis will be that the N20b bond is a complete ruse on the radar; an effort in futility to say the least:, he continued.

His Excellency should brace up himself to address these questions. Again, the honeymoon-enjoying Commissioner for Finance, Mr Asuquo Ekpenyong Jnr as well as other economics related aides should assist their principal 

Efio-Ita Nyok
Is the Blogger-in-Chief, Editor-in-Chief & Publisher of NegroidHaven 

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