THE MATHEMATICS OF BURATAI'S SAVINGS

THE MATHEMATICS OF BURATAI'S SAVINGS


"The Mathematics of Buratai's savings.

Before we delve into the subject matter, let's ex ray his military career vis a vis promotions he enjoyed.

Lieutenant General Buratai's promotion dates are:

Lieutenant (January 1985)
Captain (January 1989)
Major (January 1994)
Lieutenant Colonel (January 1998)
Colonel (January 2004)
Brigadier General (January 2009)
Major General (January 2012)
Lieutenant General (August 2015)
Now, let's look at the salary structure of the Nigerian army:
Nigerian Army Salary Structure per month for
Commissioned Officers as at Dec, 2015
Second Lieutenant- N120,000
Lieutenant- N180,000
Captain- N220,000
Major- N300,000
Lt. Colonel- N350,000
Colonel- N550,000
Brigadier General- N750,000
Major General- N950,000
Lt. General- N1 million
General- N1.5 million

Note: The salaries were far less than the present structure. Former President Goodluck Jonathan approved the Review of the Consolidated Armed Forces Salary Structure (CONAFSS) in July 2010.
N115. 6million was alleged to have been paid for a property in Dubai. If the properties are two as reports allege, then we should be talking about N230million or more.

Assuming General Buruntai didnt touch his salary since he joined army till 2014 and using the current salary structure (which is much more that what he actually received), he should have the following in his bank as at January, 2014:

N8, 640, 000 as a Lieutenant
N13, 200, 000 as a captain
N14, 400, 000 as a major
N25, 200, 000 as a Lt. Col
N33, 000, 000 as a Col
N27, 000,000 as Brig. General
N22, 800, 000 as a major General
Total earnings by Gen Buruntai since joining the army in 1985 till January 2014 is much less than N144, 240, 000.

Now, being an award winning, globally acclaimed saver of the century, he might be saving up to 50% of his salary(which is practically impossible). That gives us less than N72, 120, 000.

This amount cannot buy a house in Dubai let alone two. There are many grey areas to be addressed before drawing conclusions. With this, you can form your own opinion and draw your own conclusions but be warned that you are sorely responsible for any opinion or conclusion you draw from this computation.

This is my modest contribution to the fight against graft. I must warn: Never punish the innocent."---- written by Charles Okafor