MinBane

I write what I like.

Opinion: You don’t lose $42m, you spend it!

“Our young people think about nothing more than love affairs and pleasure. They spend more time attempting to seduce and dishonor young women than in thinking about their country’s welfare. Our women, in order to take care of the house and family of God, forget their own. Our men limit their activities to vice and their heroics to shameful acts. Children wake up in a fog of routine, adolescents live out their best years without ideals, and their elders are sterile, and only serve to corrupt our young people by their example.”José Rizal, Noli Me Tángere

Pardon my French, but no sane person or collective, even organizations and governments really lose millions upon millions of dollars. They are spending it and hiding the recites. It is that simple. It isn’t like a pseudo-science or science fiction for that matter. It is just blatant misuse of funds and trying to covering up the tracks that are left behind. Because, suddenly without any effort, the money just vanish.

I understand when people are losing small change, some shillings, some notes of a certain value. Nevertheless, not in the millions. Neither the sudden lack of effort of not explaining how it went. Because this amounts of money doesn’t evaporate or go bad as old food. It is cash money and when it is gone, it is because it is spent on something.

“The Somalia Parliamentary Committee on Finance and Budget has released a new statement alleging mismanagement of funds at the Ministry of Finance. In the report, it was revealed that about $42M is unaccounted for and the Finance Ministry headed by Minister Abdirahman Beilleh, has not been able to provide any reason or explanation on how the funds ‘disappeared’. Of the funds unaccounted for is $20 million which is part of a $50 million budgetary support from Saudi Arabia granted to the Somalia government in the year 2017 According to the report the funds have not been indicated in the 2018 budget” (Hiiraan Online – ‘$42M Missing from Somalia’s Ministry of Finance Accounts’ 22.11.2018).

This stories are getting old on me, the knowledge that the ones on high, the ones above the Ministry of Finance. Most likely knows the deals and arrangements, but they are untouchable, they have traded these funds and siphoned them to their side-projects or even side-dishes for that matter. Who knows, if they have entities abroad outside Mogadishu and Somalia. They might have investments in Kampala, Addis Ababa or even Nairobi.

This money can flied anywhere and to anyone. As the Ministry of Finance has no proof, no bill or no transactions paper to protocol the spending. That is lax financial control and should make both the International Monetary Fund (IMF) and the World Bank (WB), very very proud!

However, this is a proof of how the Villa Somalia is spending money like there is no tomorrow. Surely, the President Farmaajo and Prime Minister Kheire knows where these funds has gone. However, hey will not confess. They will not drop an LP like Usher with their confessions and tell their stories of cheating. Even if it would have been healthy, because their recordings are valued about $42m USD, I am no fat-cat, but that is good money. You can buy a lot of property and own big-businesses with that sort of cash-flow. No doubt. Peace.

Advertisements

Single Post Navigation

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

This site uses Akismet to reduce spam. Learn how your comment data is processed.

%d bloggers like this: