hen those armed robbers visited the village, the old man was already on his way to Lagos. His son was concerned his father had become a target of opportunity for the local kidnappers and extortionists. He therefore decided to invite him on a diversionary, for a little rest and relaxation and seemingly so. The news that armed robbers missed his father by a hair traveled faster. The text-messages were not funny either. Beholding his old man as he disembarked from the luxury bus at Mile Two was indeed a welcome relief, albeit subdued in mixed feelings and excitement. The drive from the motor park to his house at Ipaja provided that special moment of innermost relief, still unsure how best to express gratitude to the Almighty. It was Saturday night; Ukpabi could hardly contain himself let alone wait for tomorrow to come at the Church of the Living God; he was rather anxious to showcase his old man, in praise and worship, the song and dance exaltation to the Lord granting a second chance to the lowly.

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The day after would be Monday, another opportunity for show and tell at the Pure Water facility. Pa Mbata had his walking stick of course, but fully in control of his frame and balance; his brightly-colored "Jumpa" was seemingly oversized but not enough to conceal his excitement; it was the first time visiting his son's acclaimed "Water Factory". The driver-escort headed straight to the MD's office and there the drama initially began, unfolding in fog and mystery. As soon as the sliding door rolled across, the old man heaved in with a step-forward but then as in a sudden gasp, pulled back on the instant. Pa Mbata immediately began to scream. "They have come again; they are chasing and pursuing me down here; no, no; God forbid bad thing; tell them Mbata Nwanjoku is not available; the gods have refused to grant passage for my early demise; all those planning this evil will perish and be consumed in hell fire". He caused and chastised those evil spirits, both the real and the imaginary, damning both with spell, scorn and condemnation punctuated with a mouthful creamy spit whose trajectory missed the doorway by a haze. The old man was still muttering in soliloquy just as his son alighted from the official car. Ukpabi was confused at first seeing a small crowd of staff members gathered around, two of them seemingly assisting his father. What could be wrong? Was the old man having a seizure or heart attack? Worry suddenly turned into sudden relief, apparently rest-assured it was not the big one, and certainly none too scary or life-threatening enough to require emergency response action. However it was one strange happening only Pa Mbata could explain and dispel on a wink.

Nobody else seemed to know exactly what was wrong if any. The old man was equally reluctant to speak, and certainly not openly; if he had to, it must be in private and only to the hearing shot of his son; but this select audience, the exclusive conference of two must not be held inside the MD's office.

Pa Mbata would not venture beyond the threshold even on a pot of gold. It was a mid-morning drama indeed. Engineer Ukpabi listened carefully trying to figure out what was amiss; in the end it dawned on him; the cold chill from the air conditioner in his office was the cause of Pa Mbata's sudden lock-down. The cold air felt like a ferocious wind directed by unknown forces and mostly towards the old man's face to the extent, knocking off his "Oke Nze Title" cap. The force was strong enough, perhaps too overwhelming and apparently too convincing. Someone must be monitoring Pa Mbata, watching every movement even from far away village in Imo. Evil spirits work with "remote control", conjured through the imperfect hands of the same evil people plotting his downfall. Incidentally coming to Lagos would not provide any relief and respite, not even a breather to the one seemingly on the run to safety and protection; unfortunately he could not escape far enough from an impending harm for which so much prayer and thanksgiving had been dispensed.

Pa Mbata was nowhere near but the "silent" scream could have been loud enough to recapture the scene of the last spectacle at the doorsteps of MD's office, the Lagos Water Factory. Unfortunately this time it was an appointed date, June 23, 2009; the place was Abuja, the office of the Governor, Central Bank of Nigeria. Alhaji Sanusi was supposedly talking to the Daily Trust reporter, one of the many the new governor has been talking to lately. Reading the summary of that interview was enough to invoke the words of Pa Mbata; certainly and surely, "They have come again". If anybody ever had the illusion Charles Soludo succeeded in keeping away the dare-devil vultures from feeding on the left-over then that person never watched Professor Pella, the Iseyin magician in action. Lamido Sanusi is about to open the time capsule buried years ago by his people and for his people. The 20th anniversary of Nigeria's Structural Adjustment Plan is overdue and must be celebrated with some glee. The chilling experience then was equally as ferocious and as numbing. There you have it, the return of the boogie man.

As part of the preparation, the new governor would like to open up the Nigerian banking industry to foreign interest and ownership to the maximum scope possible. Currently, the CBN does not allow more than 5% ownership and has reservation even for 10% equity especially in any of the country's so-called upper-tier financial houses. According to Alhaji Sanusi, 5%, 10%, any percent would not be good enough but 100% foreign interest participation. The Alhaji is also considering creating what he is calling "Asset Management Company" to take over those financial institutions on the verge of going under; they are the ones the governor has identified as having "margin loan" problem. Before delving into the Sanusi Financial Management Plan if necessary, has anybody actually gone to Charles Soludo to find out why the ex-governor considered it in the country's best interest to limit foreign participation in the banking industry?

Have the conditions that warranted such a policy under Soludo changed? Did those conditions change in four weeks since the appointment of a new governor? What does Sanusi know at this moment that was never evident in Nigeria's financial market system four weeks ago? The answer or the many answers to these questions remain academic, ultimately at variance with the political framework and guiding principles of the central government. When someone like Alhaji Sanusi and the Yar'Adua experts begin to sound hyper-intellectual and seemingly making sense out of non-sense, it is perhaps time to start worrying. The custodians of Nigeria's orphanage factory are back at work to nurture the next generation of motherless babies. Surely "They have come again", with a new plan, albeit the same plan: "Mine is mine, yours is ours".

According to the new central bank governor, two primary task assignments define his new approach to business. He has identified the key roles, a) "Restoring confidence in the financial system b) playing an important role as an agent for development". In his own words, "the governor of the central bank cannot be the governor of the Bank of England, and just talk about money supply and interest rates and inflation. The financial system plays such a vital role in the economy that the governor of the central bank has to see himself, even though not a politician, as an important part of the government with a responsibility for delivering economic growth". Obviously Alhaji Sanusi seems to know so much about the inner- workings of the Bank of England to the extent handling the Central Bank of Nigeria would be just as simple as sipping "Fura de nunu". Thus, these agenda items define the mission of those who hired him and in turn the policy of the government they control. Nominally to execute this plan, Sanusi would not necessarily be serving in the House of Assembly to be political enough for all the purposes reserved. In other words he intends to play the role of a politician in advancing the interest of the few he represents and not the many who still call themselves Nigerians. The Alhaji must follow in the footsteps of his predecessors, controlling the course of One Nigeria, ignoring the cause as pertaining.

In the 1980s, Nigeria was one fertile ground for all kinds of banks. Nigerians in high places formed little cliques with their friends, foreign and domestic alike. The result was the plethora of banks of all sorts including the so-called merchant banks that certainly helped market the country's resources to the least bidder. These Nigerian banks proved one wise man right, the one who said "to rob a bank, own one". The truism would be "to rob Nigeria and Nigerians, own a bank". One particular bank comes to mind readily. Bank of Credit and Commerce International (BCCI) was a household name in Nigeria. Its network of operation had a global reach, covering Southeast Asia, Europe and America. BCCI provided the conduit for siphoning funds and hiding ill-gotten assets. By the time all the shady deals were exposed in Europe and America, the damage had been done. The Nigerian military junta and their associates at the time used the services of BCCI to cart away the treasury.

When the bank was seized and proscribed in England and the United States, most of the patrons had their holdings valued in pennies to the million. The story of BCCI and how it helped sap Nigeria into oblivion could be revisited in a short order. Alhaji Sanusi would not need to try very hard indeed doing just that in fulfillment of his mission to become the so-called agent of "retrograde"development.

A few days ago, the senate committee on Banking and Insurance revealed the names of former directors of a number of failed banks. These individuals, mostly the movers and shakers of the country among the real owners of Nigeria borrowed a whopping sum of over 53 Billion Naira (approximately $300 - $400 million - as per the American definition of Billion = one thousand million). If this amount was considered to be strictly loan, it was certainly unsecured with no known viable collateral. The Nigerian Deposit Insurance Corporation (NDIC) is said to have recovered 4.7 Billion Naira (less than $30 million). There is no detail regarding how much if any has been returned to the affected depositors whose livelihood has been gutted by thieves parading themselves as respected members of the civil society. The irony is that this list is only scored on the short form. The long form version is the "Who is who" in Nigeria. The sad commentary is that many of them remain directors and oversight managers of various Nigerian banks as currently constituted. Talk of wolves guarding hen houses; come next October the same would be receiving merit awards and so-called "national" honors from the higher power. Others would have married more wives, become "Alhajis" many times over by going to the "Hajj" or enthroned themselves "JPs - Jerusalem Pilgrims" having preformed pilgrimage to Israel. The Nigerian "Big man" thus pays for his status and all symbols of exuberance through thievery, extortion and graft.

It would be too simplistic to say that opening up the banking industry to readmit the likes of BCCI into Nigeria to continue the same business as it was in the beginning, would be considered any worse than Nigerian thieves owning similar banks. It would also be unfair to absolve Soludo and his boss, the "Rt. Honorable Triple T" ex-president of any blames since most of these banks failed under their watch between 2005 and 2008; many of the erring directors have since been reappointed to serve in the new and improved, consolidated banks, with their debts in their prior capacity still outstanding. It is apparently true, Nigeria and Nigerians always emerge as their own worst enemy; however the failure of Charles Soludo in policing the excesses of the management of these hitherto failed banks, including those yet to fail, cannot be enough justification for opening the door even wider for another BCCI and the likes. Both actions have consequences that could be said to be unequal and opposite in effect.

The world has yet to hear all about Madoff, how his financial empire in NY City crumbled, swallowing over $600 billion investor-funds belonging to hardworking innocent others.

The Enron executives that also swindled their investors and employees of several millions of dollars were tried in courts of competent jurisdiction, found guilty and sentenced to several years in prison. Obviously, there are crooks in Nigeria and enough to go around, but all the crooks of the world are not Nigerians and do not reside in Nigeria either. However, there is only one major difference. The Madoffs and the "Enronites"of America are put away in jail for a long time when and if caught with their ill-acquired assets seized for possible victim-restitution; but the Nigerian big wigs and their associates live for a repeat performance of their actions. They return to the scenes of their crimes more affluent and flamboyant, ready to dupe the people further and more. They remain the glorified untouchables recognized by all AGIP (any government in power) for honors, awards and appointments, sustaining profligacy and misguided arrogance.

The foreign banks Sanusi is inviting to come and join the "Come and eat" nobility of Nigeria are probably the many receiving bailout funds from the Obamas of America and elsewhere in their home-base countries around the world. If they have not "done well" for their respective customers in their home countries the outcome of which remains antecedent to the global financial crisis, why would Sanusi expect them to perform even better in Nigeria? In the event such foreign banks were allowed into Nigeria at 100% equity participation, who would bail them out if the need arose? If the NDIC is lacking in making whole the victims of currently failed banks, what is the guarantee that impending victims of a foreign bank would receive timely relief?

There must be more compelling reasons for Alhaji Sanusi, in favor of another BCCI. Reopening the pipeline for draining whatever Charles Soludo left behind at reserve, would not necessarily be considered the action of a self-styled, chosen agent of development. Alhaji Sanusi is clearly proclaiming himself the gate keeper, controlling and conducting a two-way multi-purpose traffic, watching, monitoring and essentially directing, governing what goes in and what goes out. Part of what goes out would not be limited to what is siphoned and hidden offshore; it also includes the resources wasted within Nigeria for selfish and sectional reasons that derive no basis in common good. With Sanusi's appointment, the stars could never be better aligned. The Nigerian Nuclear Regulatory Agency head quartered somewhere in the North Country can now receive funding towards conceptualizing the blue print of the Nigerian Power Plant industry. In addition the advocates of a Petroleum Training Institute (PTI) can begin mobilizing for the ground-breaking ceremony in Kaduna before long.

It is very naïve for anybody to think the owners of One Nigeria are oblivious to the implications of nuclear power plant localization anywhere in the country. They are however ignorant of the ramifications of their excesses. The goal remains that penchant for starting what can never be completed, relying on redundancy to legitimize fraud and corruption. The iron and steel industry is a living example of Nigeria's strings of orphanages, the museum of natural disaster and waste.

Like many such "White elephants", they are located in the North Country. If however there was any justification for establishing iron and steel plant at Ajeokuta, what in the name of Mbata Nwanjoku justifies PTI in Kaduna? What has happened to the PTI in Warri, Delta State close to the burrows of the oil-fields? Who would be the director-general of the Kaduna PTI, the one who graduated in geography from Ahmadu Bello University (ABU) Zaria in 1975? Could the alternate one be Jibril Aminu, the physician and onetime Minister of Petroleum or Rilwani Lukman, the miner? Where would the students be recruited from, the so-called catchment areas of the North Country? Alhaji Sanusi would clearly see this project as a meaningful development, coming on stream, ahead of the discovery of commercial oil production in the Benue Trough and Chad Basin. The assumption is that having PTI in close proximity guarantees effective technology transfer and ultimate participation in the oil industry in due course. In the end the outcome is that unholy marriage between duplication and duplicity, part of the "Northern Agenda" for One Nigeria.

The internal consistency for One Nigeria is further misaligned in other ways by the unilateral "political" action of the central bank governor. In that regard, Alhaji Sanusi would be extending open invitation to those banks from the Middle East and North Africa, notably Saudi Arabia and Libya? There would be absolutely nothing to worry about if any such banks would limit its activities to the financial, essentially any riding on trade, commerce and industry. Judging from previous records and experiences, repeat of history in this instance spells danger. There would be no guarantee such banks would not become formalized channels for funding Islamic influences, promoting radical fundamentalism, sponsoring and reinforcing "Wahhabi" activities across the land. Nigeria and the North Country have been spared the ugly chapters deriving from the Alhaji Gumi-type Islamic ecumenism; it has been nearly 20 years; that count is bound to cease as soon as funding can be made available to the Al Qaeda paymasters to arm the "Maitesine" Taliban currently lying in the shadow and eager to resume suspended action. If anybody thinks Sanusi is kidding, wait until you begin to read about the return of rest of them, all the "Habib" Banks. It's all about the chill, folks and not the thrill of office. Get ready, "They have come again".