I'm stunned and absolutely flabbergasted by the following form of apologia by one of the most respected English daily. I do not want to speculate on their motives but what they have attempted is shameful, and not worthy of their caliber. The editors should be ashamed of themselves! M.M. Editorial (Guardian) 20th January 10 (stop writing dates this way.. the year is 2010!) BoT Governor merits support Editor Any central bank, in our case the Bank of Tanzania (BoT), is the nerve centre of the national economy. In any country, it is managed by the best trained people who are also individuals of the highest integrity in society. This is why the External Payments Arrears (EPA) account scandal and other chain of scams that ravaged BoT are frightening and rare occurrences. It is also precisely for this reason that the recent attempt to question the BoT governor's integrity using the public funds spent on the construction of his official residence as a pretext is highly regrettable. We say the said expenditure was a pretext because available evidence indicates that, based on the annual rent of 113 million/- BoT had been paying for the governor's accommodation in rented premises (u must be kidding me.. renting for abt 7800USD a month, where was this Heaven? with a salary of about 15,000USD a month!!!?? M.M), the expenditure of 1.4 billion/- for the official residence represents a payback period of 12 years while also affording the bank an official residence befitting its CEO's status(F@##K the status!). It is only fair to say that the time has come, or it is in fact well past time, for Tanzanians to show, recognise and protect all those who have served, and continue to serve, this nation commendably. (does this include teachers, police officers, prison guards etc? or the CEOs, CFOs, and COOs!?) There is impeccable evidence that Prof Benno Ndulu is one such person. He is a public servant who took over a shattered central bank that had become an object of ridicule in the wake of the infamous chain of the EPA and other scandals. The soft-spoken but hugely enterprising economics professor has been so quick and successful in restoring BoT's image that he was voted Governor of the Year in Africa for 2009 (of course, in the land of the blinds..) Those in the know admit that the rating came against a background of performance by the central bank in terms of creating macroeconomic stability that has perhaps not been recorded since the days of founding BoT governor Edwin Mtei over four decades ago. President Jakaya Kikwete appointed Prof Ndulu as BoT governor in early January 2008 to replace long-embattled Dr Daudi Ballali, who was sacked after the bank occasioned massive losses through dubious payments and dealings with phony companies in 2005/06 through the EPA account.(stupid! how can you sack somebody who has resigned)! Statistics show that within a short period of Prof Ndulu's custodianship of BoT, Tanzania's foreign reserves rose from USD 2.4 billion to USD 3.5 billion. It is noteworthy that within just a year of his assuming governorship, the bank succeeded in bringing down the rate of Treasury Bills from 14% to around 6%. Despite the global financial meltdown, (a)BoT managed the operations of commercial banks in such a prudential manner that the impact of the crunch on these banks was not as catastrophic as earlier feared. It is also noteworthy that, (b)as the global financial crisis continued to bite, BoT designed a Tshs. 1.7 trillion/- stimulus package as part of a strategy to deal with the problem. (Do these people know what internal contradiction is? if (a) is true and (b) is also true then somebody in the editorial board need to be tossed in the sea!) These achievements are well known, and we believe the residence issue would have been regarded as a non-issue save for the fact that the governor is believed to have plugged loopholes through which huge sum of money were being routinely siphoned from BOT. As we reported on Tuesday, BoT's procurement system has been so streamlined and made so transparent that the next currency printing through properly organised competitive bidding may cost just one-third of previous printing costs. This makes us ask where the remaining two thirds, which the bank will now save, used to go before Prof Ndulu took over as governor. The answer is obvious – and it is that the amount used to go into the pockets of individuals whose identity and motives are anybody's guess. It is clear that those who previously profited through corruption and other foul play at the central bank are a vastly disgruntled lot with Prof Ndulu in the saddle and will not go down without a fight. (Stop it! I for one did not profit from corruption or foul play from your stupid bank!) Our view is that the nation has a duty to protect the governor and let him continue with the good work he is doing at BoT.(shhhhyt!) My Take: why don't they advice the BoT to buy him (the governor) a Gulfstream 500 too and lease him a luxury boat in the name of whatever reason they have to justify the 2 houses!?