Sunday, 20 May 2012


How embarrassing can it get, Rolex wrist watches another tool for corruption as we have seen and heard so far. If the so called prof. Ndi-okereke knew the implications of her behavior while at the while at the Nigerian stock exchange according to the nation’s editorial may 15th “she would bury her head in shame”.
This is Nigeria where even those whom we know to be corrupt still carry themselves as leaders and elder statesmen. So Ndi okereke cannot be an exception. She is truly behaving the proper Nigerian way, knowing full well that she would get away with it. Irrespective of whatever we say or know about this Rolex wrist watch drama.
Just because of the bad decision and conduct of some in the helms of affairs in Wall Street leading to the failures and financial losses in corporate America, many want to jail. For me that is a society that would not joke with the hard earned money of the American people. That is one big lesson for us here on this part of the world……….
The fundamental strength of the Nigerian stock exchange is largely built on the confidence and trust of the investing Nigerian public and with madam Ndi-okereke making such unguarded statement; she further diminishes that trust repose on the stock exchange by the Nigerian public. Such mannerism is really uncalled for, especially in a country like ours that wants to make herself an investment destination for both foreign and local investors.
Many may not see the immediate effect of the okereke Rolex drama but in the long run when the NSE wants to boost her image and increase the worthiness of the financial market then we would understand that this little episode means more than what it seems.
 If what they are telling us is true, one would ask, why spend such money (189million) on such luxury just for some awardees? That act in itself is corruption inducing because objectivity and due process may be thrown to the wind when next transactions occur between both parties. This to a large extent is what is responsible for the failures and losses witness in recent times in the Nigerian stock market.

Dept of philosophy
University of Lagos