Where Does Dakkada Propaganda Leaves Akwa Ibom?

By UbongAbasi Ise

“Some of the mankind's most terrible misdeeds have been committed under the spell of certain magic words or phrases” – James Bryant Conant

Every government administration, like humans, craves popularity and would not waste time in inventing their own buzzword that is strong enough to win them popular admiration. Akwa Ibom people, on 23rd Septembr, 2015, were thrilled at Godswill Akpabio International Stadium during a ceremony where the so-called Dakkada philosophy was unveiled with pomp and glamour. The entire recitals of dakadda buzzword charged the entire state to rise up to greatness. As years roll by, the governed rise up in their own capacity, but their government hibernates, perhaps gone apnoea. 

Months ago, Mr. Eseme Eyiboh, the Chairman of Cross River Basin Development Authority, CRBDA, had made a very apt press comment on the sticky banking situation of Akwa Savings and Loans Limited. He pointed that many traders at Urua Nka market in Eket used to subscribe to the services of the bank owned by the Akwa Ibom State government but unfortunately they cannot withdraw their money from the bank, wondering why Governor Udom Emmanuel has not revamped Akwa Savings and Loans Limited to become a regional bank that would have created jobs for Akwa Ibom people. This was a pointer to the worsened business situation in the state. The big detail is that for over three years of Mr. Udom Emmanuel administration, the state's informal business sector is struggling for survival. To improve the economic conditions of the state, Akwa Ibom people known for hard-work and industry have done their part in line with the spirit of dakkada to launch the state's economy to greater height. Most private businesses have tried their best to rise up but fell miserably because the government of the day lends no helping hand. Of course businesses cannot wax strong without conducive financial environment. They wane because they don't enjoy the fresh air of capitalization. Akwa Ibom state governor, a financial intelligentsia who came into politics as a strong force in the banking system, could not utilize his opportunity as the state's chief executive officer, to build a strong indigenous banking sector whereby his dakkada philosophy could aptly be energizing the state's informal business sector to rise to greatness. It begins to look real that the state cannot just dakkada without domestic financial strength because it can be extremely daunting to run a large-scale business in the prevailing economy jam-packed with undeniable vulnerabilities without having to fall back on bank loans. Take example from other parts of the country: the Yorubas have the controlling influence on First Bank, Guarantee Trust Bank, Sterling Bank and so on; the Hausa/Fulani have Islamic Bank, Unity Bank to name just a few; the Igbos have Diamond Bank, Fidelity Bank and several others. Those banks are munificently giving strong financial backings to the economic growth of those regions as well as business operators depending on their ethnic backgrounds. But where is our own in respect to local business? Where are the likes of Merchantile Bank and Cooperative Development Bank? How is Akwa Saving and Loans Limited faring today? If Udom Emmanuel could be considerate enough to do to a homegrown bank half of favours he has done to Zenith Bank, don't we think the future of Akwa Ibom would be better off?  Instead, the indigenous banks are kept at arm's length by the state government, and left to stagger in the face of all the economic oddities.

                            Since Mr. Udom Emmanuel came from the background of Zenith Bank PLC into power, it is not improbable that the governor would revere the business interest of Zenith Bank PLC in Akwa Ibom more than any other thing that matters to the state. This bank controls bulk of transaction involving the state government courtesy of Mr. Emmanuel. From the monthly allocation coming from the federation account to the payment of entitlements of the state's public officials, about 1% of the amount transacted would go to the Zenith Bank PLC. But this is the bank that has not given back the state something tangible capable of shaping the future of Akwa Ibom youths. Instead, the bank is swimming in the pool of wealth amassed from the state without corporate social responsibility. This is the bank where salaries of civil servants are lodged but they would use stringent conditionalities to deny civil servants access to credit facility because they are Akwa Ibomites.

                 It is beginning to show that dakadda is not a philosophy, but propaganda. It has become very watery, and some Akwa Ibomites seem to be apoplectic at the mention of it. If a bank like Akwa Savings and Loans Limited cannot 'dakadda' and compete favourably with other banks in the country, and help businesses and housing to grow in the state, then Udom Emmanuel is only playing tricks with words, and dakkada is nothing, but a tasteless propaganda.

                                                                                         

Yes! I am UbongAbasi Ise. For Comment, send SMS to 08189914609. |ubongabasiise@gmail.com

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