Olam’s $50b fraud in Nigeria false or auditors in SG HQ blur?
On Friday 8 Sep 2023, The Daily Nigerian reported an exclusive on State Security Services (SSS) investigating a massive US$50b economic fraud involving Olam Nigeria Limited, Olam International and their nine subsidiaries. The Daily Nigerian: In a chain of round-tripping foreign exchange deals since 2015, the company, through...
Free Trade Agreements are not about freeing up trade
Contrary to its name, Free Trade Agreements (FTAs) are not about freeing up trade. Prior to the signing of the United States - Singapore Free Trade Agreement (USSFTA) in 2003, Singapore imposed tariffs on only three products - beer, stout and samsoo. Trade was already free. Why then would the Americans want to sign a Free Trade...
Tyranny Of The Mob
“Why do democracies fail?” That subject has been asked a lot in recent years, in books, on opinion pages and news broadcasts, and in an increasingly tense public discussion. But nearly invariably, I find myself responding to the question with another: Why shouldn't they? Democracy is uncommon and transitory, according to...
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