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CANNOT pay, would not pay, is one statement every creditor never wants to hear. It spoils all calculations especially in the world of finance. This is because in the world of finance, outstanding has a way of being worth attention only when they come in millions. Yet, the saying still runs true somehow that if you owing a man thousands of Naira, you are at his mercy but when you owe him millions, he is at your mercy.

No wonder, when the American economy shows any sign of distress, the whole world begins to develop cold. It is the same reason that sent EC countries dashing for conference tables to trash out bitter pills needed to stop Greece from saying the same words: Can't pay, won't pay. Of course, until things get to such a state for any major debtor , creditors can always go to sleep with eyes closed, not as open as the average investor in the more volatile equities market of the same capital market.

SOON it will be end of year for University Press PLC and being of the companies with a long track of prompt release of briefs to the stock market, the audited figures will hit the market not too long after. But will year March 2012 end as one the company managed to scale clear of its performance in 2011 financial year?

May be, especially if the surprise package both the Federal Government and organised labour handled the economy in the first days of January did not stretch things further. By the third quarter, according to figures to December released not too long ago, scaling through was well on the cards and it only remained for the last three months to chip in its bit.

WHEN any person hears a mentor or parent, especially daddy, cut short a monologue and say: What are you saying? Are you making sense even to yourself right now? Then such a person needs not be told he has hit the wrong note.
It could be that his communication effort went haywire or that he really was not making sense either because he did not quite grasp what he was saying or he was not smart enough to fool the old man or mentor. Those words also amount to serious indictment that no one has any option but to rethink what he was getting across or come open with any hidden agenda.
In effect really, not to make sense is a serious crime against oneself. This is because every human being of decision making age is presumed to have acquired enough experience and knowledge to make logical decisions and logical explanations. In that case, not to make sense even to self, is another way of saying, are you of age?

AT this year's annual general meeting, the Board of Directors of Dangote Flour Mills PLC may have to explain a lot to discerning shareholders of the company. That is, if the trend indicated by third quarter figures lasted till the financial year end last December. They may have to explain not just the marked drop in the company's profit but more importantly, the rather high appetite for short term borrowings within the year.
From the figures for the third quarter released at the stock market recently, short term borrowings more than doubled within the nine months to September 2011. It rose by 160.9 per cent to N22016m from the N8440m with which it ended financial year 2010. To make the explanation more likely was the fact that by the same third quarter, there was a drop, not an increase, in the cash position. It dropped by 6.35 per cent to N2051m from N2190m closing figure in 2010.

NO one can say for sure that there is anything very wrong with going borrowing. After all, even the hair on our heads, useless it appears to be, is very useful, if not it would not have been created. Much the same way with everything else, including the act of borrowing which has survived centuries and indeed, would have meant the death of banking and money economics if it had not become an institution.

Agreed, many still feel uncomfortable with borrowing. For the majority, especially in Africa still deep in traditional way of relations helping relations to save family name; it remains better to run only one's lace shows. So, there are indeed companies and individuals who prefer to wait patiently until they can put together the money needed to start or expand a project. They do not want to go through the psychological and related trauma some borrowers go through in the hands of those who lend them money.

However, this set of people are not the only ones who were overjoyed recently when

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