*Exposes businesses where dollar is demanded on local transactions
*Exposes why naira keeps depreciating in value
Recent events have thrust the American International School in Abuja into a whirlwind of controversy, tarnishing its esteemed reputation for academic excellence.
Allegations surrounding the school’s governance, tasked with safeguarding the interests of parents, teachers and students, have ignited a firestorm of concerns and demand for accountability.
At the heart of this scandal is former Governor Yahaya Bello, alleged to have made substantial payments above the years of tuition fees for his children and wards.
The ex-governor was said to have paid the school fees of his children in excess of $760,910.84 by the EFCC, which the commission has asked the school’s management to refund via ref no CR.300/EFCC/LS/PFD/TC/45-21/VOL.4/188 and the school asked for appropriate bank account into which it will be paid.
Questions concerning the timing and method of these payments have sparked accusations of misconduct, prompting investigation by the Economic and Financial Crimes Commission (EFCC) alleging breaches of Nigerian economic and financial laws.
Also, questions of dollar denominated payments in an institution operating in Nigeria and years of advance payments and whether the total amount paid violated Nigeria’s financial laws are issues that have thrown up for queries.
The spotlight on the school’s governance oversight systems and its being in tune or violating Nigeria’s economic regulations have triggered public scrutiny and intensified queries on the modus operandi of so-called international schools operating within the country.
Demands for transparency, accountability and meaningful governance structures have reached a crescendo as stakeholders seek answers and justice.
Amidst mounting pressure, the integrity of the American International School Abuja’s Governing Board hangs in the balance, with calls for a comprehensive investigation echoing loudly for truth and decisive action.
Nigerians following the development have thrown up issues which puts pressure on the Naira, leading to continued devaluation of the naira due to failure of security agencies to perform their duties even after continuously asking for more money in their annual budgets and for operational purposes.
“With what is unfolding now, it has become obvious that our political leaders are primarily and solely responsible for the poor value of the naira and due to unnecessary pressure and dollar denominated though illegal transactions in the country. (Additional facts from Prompt News.com)
