OHAZURUME - Unizik Journal of Culture and Civilization

It has been etched in the heart of many Nigerian politicians that to be in government is primarily to serve ones personal interest. The sense for common good has been deleted from the heart of many Nigerian politicians and sqandemania which started since 1970s as a result of oil boom has equally wiped the sense of savings and investment. Money laundering and trafficking have become the order of the day. As Epicureans would say, what Nigerian politicians uphold is "eat, make merry for tomorrow we die”. Money and material comfort has replaced wisdom and knowledge in the scale of character and personality. This widely observed notion in today's Nigeria is in contradiction with the then governor of Anambra State and the Labour party presidential flag bearer, Mr Peter Obi, who maintained that savings should be incorporated into Nigeria constitution and be practicalized by our politicians if actually Nigeria wants to develop. The above analogy which is the concern of this paper will be done using phenomenological and sociological methods and the theoretical framework that will guide this work is the theory of life cycle and investing which insist that financial asset is the vehicle for transferring resources across different times and outcomes over the life cycle.

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