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« NEO President Mocks Opposition Parties | Main | Boy Butchers Own Mother For FCFA 2000 »

Monday, 09 July 2007

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Epizi

Here comes another area of deep neglect by our belove reform fighters of the country.Ofcourse the obvious choice between making one the Director General of Teasuries or the Social insurance fund will be the former.Certainly the shortsightedness is about to be unleashed to the less litrate in Finance. One of the richest institutions of any country is its social insurance or pension fund.This fund plays very major role in capitalising most government projects at zero or little interest rate because the contributors to this fund knows not more than a hard strive to get some wrehcted allowance. In the capital market there is a mad rush to purchase securities derived from this fund because of its payment gaurantee and perhaps because of assurance to perpertuity. While a lot goes under the eyes of Cameroonians this is a one area where there is no pretence of the volume of financing and refinancing generated to the corrupt offices.No one question its source or outcome perhaps because we do not know.I wish this serve as an eye opener to us.

One important aspect so perculiar with LDCs like Cameroon is the Life expectancy at birth.Unlike the western society with aging population having a number of Old ready to benefit from their pension contribution, it is never the case with us since many contributors die before even going on retirement.Also taken for granted is the element of unemployment break: assume one quits a job as a contributor and gets another one as a non contributor, this benefit automatically varnishes.There is evidence however, so much to support the fact that what is expended for the contributors to this fund is far lesser than what is contributed. The question here is where is the extra? Why is the operation of this particular institution so vague? Why will the Prime minister sound his own whistle when he knows fully well that the fund itself has done nothing yet if only the first project for decades they have accomplished is that puppet home they are not quite ashame to value it at 2billions and call it an edifice.Sometimes I feel these old people who have plunge our belove nation to this dudgeon of suffering should get a fair share of their part, but it helps us to know and don't educate.Even university professors get down the drain during retirement due to their frustration in keeping abrase only with what concerns them.Time to educate all on even common issue like this is now.

I hope to come back of this issue if time will permit, to sanctioned a qualified article of what NSIF is hiding and like other countries as Cameroonians we deserve to be educated thus.

Epizitone
Financial Economist
ebodume.anabi@hotmail.com

Jimmy Stan

love this building, it is part of development for us, think it is one of the best presently in Buea

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