Money-Screams in the most unlikely places.

According to the Guardian newspaper reports, In Nigeria, Money just doesnt talk, it actually shouts. Especially in the lives and lifestyles of those who have it in abundance.

While the economic crisis takes its toll on Nigerians, the taste of Nigerian rich men for luxury is anything but waning. While the stock market is down and people's savings have been wiped out, a few Nigerians are still living life to the fullest, flying around in private jets. Money, indeed talks. While it has said goodbye to mostly poor Nigerians, it is screaming "watch me do wonders" in the pockets of a few.

Overflying the Nigerian airspace today are some of the best and, of course, most expensive private jets these companies have on offer.

An interesting dimension however to this jet craze is that most of the planes owned by Nigerians are registered in South Africa. Indeed, an openly-discussed topic in the South African Aviation sector is the number of aircraft registered in that country but belonging to Nigerians and, of course, the source of the money. "Nowhere in Africa, not even in South Africa is there the number of private jets as we have now available," said an aviation expert. In the last one year, the number of private jets bought by Nigerians has more than doubled.

Specifically, at least five Hawker 900 XP, a luxurious wonder in the air have been bought. Each, according to an official of the Hawker Beechcraft Corporation, cost $14.9 million. Another five 800 XP at the cost of $13 million each have been purchased. Two brand new Hawker 4000, which Dan Keady of Hawker Corporation confirmed, is about $21 million each, are already in Nigeria too. One belongs to a banker and the second one belongs to an oil company.

The questions being asked especially of publicly quoted companies are: Are the aircraft part of the quoted companies' assets? Who authorised the purchase? The board or the shareholders? And could this luxurious lifestyle be a contributing factor to the plunge in the value of people's investments? Would it not be necessary to cut costs, win investors' confidence by cutting down on such things as private jets?

"When you add the cost of all these jets to the cost of their daily maintenance, you are likely to get enough to boost the nation's comatose manufacturing sector or agriculture and generate employment," said Toyin Sonola, an international lawyer and economist.

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