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Tag: Magnus Onyibe

  • How Dangote and Air Peace rose up against economic strangulation of Nigeria – By Magnus Onyibe

    How Dangote and Air Peace rose up against economic strangulation of Nigeria – By Magnus Onyibe

    Nigeria recently spent as much as N2.34 trillion in six months to service a humongous public debt that is currently in excess of N107 trillion that she is saddled with. That is why the country’s national budget of N27.5 trillion for 2024 has nearly half of it appropriated for settling the nation’s outstanding debt, which is comprised of local and international debt stock.

    As such the high borrowing cost and rising debt are hindering Nigeria’s ability to finance its development agenda, because the huge amounts of public revenue that are allocated for debt servicing purposes could have been used to intervene in other critical sectors such as education, health care and housing that urgently require funding.

    Based on statistics obtained from Nigeria’s Debt Management Office (DMO), the Brookings Institution, an American think tank, reckons that: “In 2022, an estimated 96% of the federal government’s revenue was allocated toward interest payments.” This year, that figure has risen to over 100%.

    The American think tank then came to the following conclusion: “Understandably, debt servicing dwarfs investments in key sectors. In the 2023 national budget, the budget share for debt servicing is 29%, whereas the budget shares for education, health, and infrastructure are 8%, 5%, and 6%, respectively.”

    Therein lies Nigeria’s dilemma of underdevelopment reflected by its status as a debtor nation whose lion’s share of resources or income is geared towards debt repayment as opposed to being invested in capital projects like infrastructure that generate income and help boost the economy.

    As it may be recalled, until a couple of months ago, Nigeria had an unsettled foreign debt owed to international partners such as airlines, estimated to be in excess of $7 billion. The debt exposure was a source of ridicule to the country and caused embarrassment to Nigerian travelers who were denied services such as the purchase of airline tickets in naira by international airlines and similar organizations whose funds got trapped in Nigeria as the CBN could not remit their funds back to their country.

    Similarly, the import bill of Nigeria as at the end of 2023 rose up to a whopping N14 trillion in the last three (3) months of the year, which is a phenomenon that experts have also attributed to depreciation of the naira when the Nigerian currency got floated.

    Available records show that Nigeria’s top four (4) goods imported the most are: (1) Motor spirit estimated at 22.71% of the total imports . (2) Gas oil, 8.71% costing . (3) Drum wheat, 3.92% cost(4) Cane sugar, 1.86%.

    Remarkably, the cost of petroleum products is 22.71% or N1,921.03 billion, plus cost of gas, which is 8.71% or N736.66 billion brings the total value for the import of petroleum and gas oul alone to about 26% which amounts to over two trillion naira. The second-highest imported item is food.

    Specifically, wheat, which is put at 3.92% or N331.76 billion, and cane sugar, whose import gulps 1.86% of our import budget with a naira value of N157.34 billion. When the two food items are added together, it would be revealed that a total of N500 billion or half a trillion is exported abroad to import food to enable us to feed ourselves.

    To be clear, there other items that our country imports, but the four items listed above constitute the largest chunk of our gargantuan import bill.

    What the statistics above reveals is that as of 2022/23, Nigeria was spending in excess of two trillion on importing petroleum products and over half a trillion on food imports, yet the nation still wallows in energy and food insecurity.

    Fortunately, through the skillful management of the resources flowing into the country, since the inception of the current administration of president Bola Tinubu on May 29th of last year, debts to airlines, etc. have been settled after the current management team at the Central Bank of Nigeria (CBN), led by Mr. Yemi Cardoso, assumed leadership.

    Be that as it may , the consequences of President Tinubu’s announcement signaling the end of the subsidy regime on petrol and the naira did not fail to have an initial negative effect on the purchasing power of a critical mass of Nigerians. These manifested as the hike in the price of Premium Motor Spirit (PMS) and the free fall of the naira, which inflicted severe hardships on vulnerable Nigerian masses.

    But, by and large, those initial dire fallout are being reversed with the volume of petrol being imported into Nigeria, according to government sources, being reduced by as much as one million liters a day under President Tinubu’s watch, and crude oil production is being ramped up by about 500 million to 1.5 million barrels a day.  The improvement in production is boosting  foreign exchange income and thus stabilizing the naira, which was initially in a free fall.

    With the 650,000 barrels per day Dangote refinery in Lekki, Lagos, coming on stream for local production of petrol in the past couple of months and Airpeace airline in the past one week commencing operations on Nigeria-UK lucrative routes previously monopolized by British airlines,Nigeria is poised to end the strangulation of her economy via the vice grip that Europe and indeed the West had on it by using their banking system, airlines, and petroleum refineries to control and tie our economy to their apron strings. Not many Nigerians realize that apart from corruption often touted as the bane of Nigerian economy, those unfair trade practices are part of what has kept Nigeria in a debt trap and perpetual slavery to the goods and services of the industrialized and advanced Western economies.

    But the aforementioned disadvantages seem to be coming to an end with indigenous solutions providers such as Dangote Industries and Airpeace relieving the Nigerian economy from the strangulations foisted on her since the country was colonized by the British, who in 1914 amalgamated their northern and southern protectorates following the Berlin, Germany partitioning of Africa in 1885 by Europeans and allocation of what has today become Nigeria as largese to Britain for lack of a better term to characterize the scramble for and partioning Africa by european oppressors.

    Now, the type of geopolitics and conspiracies underscored and narrated above have been ongoing since independence from colonialism and neocolonialism. But because it is sophisticated and nuanced, which is quite unlike the French introduction of the CFA currency and economic zone that enabled her to control the economies of her 15 former colonies via a tie to their umbelical cord, not many figured out why our economy has remained mired in debt despite the enormous natural and human resources that our nation is endowed with.

    That is perhaps the reason that while the former French colonies are currently openly rebelling against the stranglehold on their economy by France by cutting ties with her , not much is talked about how Nigeria must remove the yoke of economic strangulation, which is akin to a yoke or harness that was placed on its neck by the Europeans, particularly her colonizer, Britain, via the control of our country’s banking system of which Nigeria got unschackled when British banks were nationalized.

    That is one of the epochal events and part of the building blocks that Dangote and Airpeace are building upon in the annals of Nigeria’s journey to economic freedom by becoming major players in energy security through the production of the bulk of petrol required in Nigeria and the breaking of the monopoly of air transportation between Nigeria and Britain by insisting on the UK respecting international aviation protocol known as Bilateral Aviation Safety Agreement,BASA.

    Is it not amazing that although our country had been granted independence by Britain in 1960, and Nigeria became a republic three years after, which is 1963, her economy was still tied to the apron strings of the United Kingdom and other Western countries whose banking institutions, such as Barclays Bank, were controlling the Nigerian economy?

    Until the military regime of Gen. Olusegun Obasanjo in 1978, demonstrated its disapproval of the practice of white minority rule over the black majority in South Africa—a governance system known as apartheid-by nationalizing the assets of the Western countries buffeting South Africa in its practice of apartheid, banks in Nigeria were basically controlled from London, Paris and New york head offices.

    Records have it that Western nations such as Britain and the United States of America (USA) were complicit in the practice of apartheid through various means.

    This included purchasing bonds from apartheid South Africa.

    Consequently, Nigeria’s military head of state at that time Gen. Olusegun Obasanjo , (OBJ)had to nationalize British-owned Barclays Bank and transformed  it into Union Bank of Nigeria, (UBN) and also restructured the former British Bank for West Africa (established in 1894) and the British and French Bank Ltd (BFB), co-owned by the French and founded in 1949, into United Bank for Africa, (UBA).

    Prior to taking the measures above , the Nigerian economy resembled a horse with a bridle over its mouth, controlled by European and American financial institutions from London, Paris and New York.

    Of course, there were consequences for what the superpowers deemed to be OBJ’s intransigence in breaking their economic stranglehold. They penalized Nigeria by precipitating the tanking of Nigeria’s economy by inducing a crash in the international price of crude oil, which is Nigeria’s main source of foreign exchange.

    That reprisal action resulted in what infamously became known as the container armada (a flood of containers of imported goods stranded in the seaports), which defined the reign of Alhaji Shehu Shagari/Dr. Alex Ekwueme as president and vice president of Nigeria respectively , (1979-1983)  both of whom are now of blessed memory.

    The inability to clear the imported goods from the seaports due to the crash in the price of crude oil, resulting in negative foreign exchange earnings into the Nigerian economy, was basically part of the justification for the military coup d’état that toppled the democratically elected government in 1983 and set our country back, both politically and economically.

    After the ouster of Shagari and Ekwueme, the political leadership was taken over by Generals Muhammadu Buhari/Tunde Idiagbon, who ruled with military diktat, setting the country back for another long period that ended in 1998 when General Sani Abacha, who succeeded another army General, Ibrahim Babangida, that had toppled Buhari and Idiagbon’s regime in 1985, suddenly died in office.

    That was what paved the way for the emergence of another democratically elected government in 1999, with former army General Obasanjo enjoying a second chance at the helm of political affairs of Nigeria as a democratically elected president (1999-2007) after serving as a military dictator.

    Fortuitously, in the 1990s, under the watch of General Babangida, the practice of banking in Nigeria was fully deregulated, thus opening up the space for independent investors to be issued banking licenses which is one of the reasons that our country developed enough competencies to, apart from South Africa be a leading nation in Africa extending banking services to fellow African countries.

    Remarkably ,Nigerian banks achieved the feat inspite of the obstacles posed by the bureacracy which never cleared the path for their expansion internationally.

    In fact in a media intervention focusing on Africapitalism, l had asserted that banks have achieved what the founding fathers of the defunct Organization of African Unity, (OAU), now African Union, (AU) failed to accomplish which is the integration of the 54 nations of the continent.

    For a very long time ,one has been stressing how Nigeria’s public sector/ civil service structure is so anti-private sector investors as opposed to being pro-private sector as obtained in other climes such as the continents of Europe, the America’s and Asia where the bureaucracy functions only as a regulator not a competitor (which is the case in Nigeria) by making sure that the rules of the game are respected by all the players and equal playing field is provided for fair competion.

    It is a general knowledge that without the aid of government, the chaebols in South Korea like Samsung, Daewoo, etc. would not have emerged as global icons that they are today.

    Similarly, the US is keen on supporting Ford motors and other automobile manufacturers, which is why they were not allowed to die when they literally ran into financial rough waters and government under the watch of President Barack Obama had to bail them out by giving them financial life lines.

    Without the support of the Chinese government, Huawei would not be such a global household name in telecommunications today.

    We are all aware of the ongoing trade war raging between China and the US over the ban of TikTok  owned by the Chinese from operating in the US unless it is sold to US investors or others.

    How about the Electric Vehicles,EV war between China and the industrialised Western world stretching from Europe to the US wherein China which is churning out EVs like confetti and at much lower price is threatening Elon Musk’s Tesla pole position whose phenomenal sale is the key reason that at a point in time,Mr Musk over took Microsoft’s Bill Gates as the richest man in the world, before Bernard Anault displaced him as no 1 and Jeff Bezos became no 2. pushing Musk to no.3 and signposted by the reality that the sales of Tesla cars have lately dipped significantly.

    The point being made is that private sector operators need government support not just in patronage, but via tax rebates ,providing enabling environment in the manner that we do when trying to attract foreign investors and we grant tax holidays etc.

    But that  do not seem to be the case in Nigeria whereby the public sector deem the private sector investors to be foes instead of partners in progress for the greater good of Nigeria and the citizens.

    At least one thing that is clear about Nigeria is that we are a capitalist and market driven economy and we are not operating a socialist/, welfarist/communist system wherein everything is centralized like it is the case in Russia and to some extent China.

    Unfortunately, our country is yet to wean itself of the elements of command and control of government and the economy with public/ civil servants at the commanding heights. That mentality/ orientation inherited from the civil service of yore, and entrenched in the course of the prolonged stay of the military in political leadership saddle of our country, is the reason the private sector is not getting the required support that it deserves.

    Arising from the above , our  civil servants need to be given the orientation that it is the private sector that has the capacity to make our country rich and our fellow citizens prosperous.

    This very critical element needs to be added into the training programs for civil servants in the numerous training institutions for public servants from the Administrative and Staff College in Topo, near Badagary, Lagos to the National Institute For Policy And Strategic Studies,Kuru near,Jos, Plateau state.

    If our civil/public servants had the right orientation reflective  of what obtains in the developed economies highlighted earlier,  the Chief Executive Officer/Founder of Air Peace, Mr Allen Onyema would not be faced with the ordeal that he was confronted with on a return to Nigeria after the maiden flight of the airline to London as he narrated on a recent episode of Arise tv. In the course of the Morning Show program, he shared with the trio of Rueben Abati, Ayo Mayo-Ese and Rufai Oseni who are the anchors of the show,how some staff of the Federal Airports Authority of Nigeria (FAAN) tried to force Airpeace to land at an abandoned and neglected area of the Murtala Muhammed International Airport, MMIA Lagos.

    Since that part of the airport was seldom used and bereft of good quality infastructure and far from the main terminal building the passengers on the maiden flight from London would have had poor and unpalatable air travel experience which could have negatively impacted the image of Airpeace to the first time passengers that the airline was intent on impressing in other to enjoy the benefits of their repeat patronage.

    What peeved the Airpeace owner the most was that his airline was consigned to the ‘Siberia’ area of the old terminal regardless of the fact that as he put it “C-23 at the new terminal was free for use, the officials chose to reserve it for a foreign carrier at the expense of indigenous carrier”.

    Mr Allen Onyema then concluded with the following declaration:

    “There are internal conspiracies within Nigeria. Some Nigerians are praying that we fail, but the good thing is that nobody is God.”

    Aviation minister, Mr Festus Keyamo had also on Arise tv on monday corroborated the challenges and artificial and real barriers created by British authorities that Airpeace had to scale to break the monopoly of British Airways and Virgin Atlantic operating flights into Nigeria without Nigeria flying any into London which is a route known to be very lucrative.  Based  on well established Aviation conventions known as BASA, there is supposed to be reciprocity of flight exchange between both countries on equal basis.

    While the UK has been enjoying exclusivity on the route since the demise of Nigeria Airways, trade balance between both nations has been skewed in favor of the UK which is one of the reasons that there was a backlog of payments for  airline tickets which the CBN just cleared when cash flow into the economy improved following the ongoing reforms by the incumbent administration.

    The cold shoulder treatment meted to Airpeace by the bureaucracy in the Federal Airport Authority of Nigeria, FAAN is not dissimilar to the the nasty experience that Alhaji Aliko Dangote had to cope with when he was struggling to set up the largest refinery with 650,000 barrels per day at full capacity at Ibeju, Lekki,Lagos.

    The commissioning of the mega refinery had to be postponed a couple of times. That is in light of the fact it was being set up during Covid-19 pandemic and Russia,Ukraine war that disrupted world supply chain and even triggered multiple recessions in many regions of the world including two recessions in Nigeria in the course of the administration of the immediate past President Muhammadu Buhari( 2015-2023) who is really not business friendly.

    Not being able to commission the refinery on schedule, some Nigerians, literally decided to ‘roast’ the visionary industrialist who braved the odds to invest in a refinery in Nigeria to stem the hemorrhaging of our treasury as humongous sums of money have been consistently exported to Europe for the import of finnished petroleum products as earlier revealed in our country’s import bill earlier highlighted.

    Some uncharitable  and ignorant Nigerians also umbraided the leadership of the CBN for taking equity in Dangote refinery irrespective of the fact that several industrialized countries as earlier detailed had invested in private sector firms in their countries to make them unicorns and veritable sources for earning foreign exchange.

    Today, Dangote refinery is effectively positioned to put European refineries that were intentionally set up along the  coastlines of Europe to produce petroleum products specifically for West African markets where it was in high demand due to lack of capacity and infrastructure for local refining of crude oil which incidentally abounds in Nigeria, Angola, Equatorial Guinea and even Ghana amongst others.

    Readers do not have to take my word for it but read the Reuters analysis by the pair of Ahmad Ghaddar and Robert Harvey published on March 27,2024:

    “lt has long been touted as the turning point for Nigeria’s quest for energy independence. Nigeria is Africa’s most populous nation and its top oil producer, yet it imports almost all its fuel due to lack of refining capacity.

    About a third of Europe’s 1.33 million bpd average gasoline exports in 2023 went to West Africa, a bigger chunk than any other region, with the majority of those exports ending up in Nigeria, Kpler data shows.”

    The report is even more revealing:

    “The loss of the West African market will be problematic for a small set of refineries that do not have the kit to upgrade their gasoline to European and U.S. specification,” consultancy FGE’s head of refined products Eugene Lindell said, referring to more stringent environmental standards for other markets.

    As much as 300-400,000 bpd of refining capacity in Europe is at risk of closure because of rising global gasoline production, according to Kpler’s analyst Andon Pavlov.”

    There is not enough time and space to dwell on the international conspiracy to stop Dangote refinery from becoming a reality and how ignorant Nigerians were serving as facilitators by literary excoriating and presenting Dangote as a villain instead of the entrepreneurial warrior that he truly has been.

    There are so many other amazing entrepreneurs such as Chief Mike Adenuga, the  owner of Globacom who owing to tenacity of purpose and sheer grit and determination leapt over the barriers set by bureaucrats in the telecommunication system hell bent on preventing him and other indigenous investors from thriving. The travails and triumphs of Chief Adenuga when he was setting up Glo is well documented,so there is no need repeating them, but suffice it to say that the successful launch of GLO resulted in the revolution of GSM billing from per minute billing that was offered by foreign GSM service providers to per second billing which eased the cost burden on subscribers.

    It is unfortunate that some corrupt elements in the public sector conspire against local entrepreneurs so that they can continue to enjoy under the table favors ( bribery and corruption) when they aid foreign investors and constitute themselves into impediments and clogs in the wheel of progress for local investors.

    We are all familiar with the reasons that Virgin Nigeria folded up its operation in Nigeria.

    Sir Richard Branson, the owner of Virgin Atlantic, detailed how bribe seeking public servants in Nigeria forced him to withdraw his investment in the collaborative effort to create an alternative national carrier for Nigeria after the demise of Nigeria Airways. In light of the persistence of the perfidy of corruption and lack of patriotism by some Nigerian public servants as alleged by Mr Allen Onyema of Airpeace and Richard Branson of Virgin Atlantic, and as reflected by the ignoble role played by some civil servants in the attempt to defraud Nigeria by Process & Industrial Developments Limited, (P&IiD) the head of service of Nigeria,Dr Folashade Yemi-

    Esan who is in charge of policy making in the civil service has her job well cut out.

    Clearly, our civil/public servants need re-orientation to enable them to become facilitators, not stumbling blocks in the efforts to pull Nigeria out of the current economic doldrums in which she is currently mired.

     

    Magnus Onyibe, an entrepreneur, public policy analyst, author, democracy advocate, and development strategist, and an alumnus of the Fletcher School of Law and Diplomacy at Tufts University, Massachusetts, USA, and a former commissioner in the Delta State government, sent this piece from Lagos, Nigeria. To continue this conversation and more, please visit www.magnum.ng.

  • Persecution as honour badge for politicians, epitomized by Senegal’s President Faye – By Magnus Onyibe

    Persecution as honour badge for politicians, epitomized by Senegal’s President Faye – By Magnus Onyibe

    Somewhere in the westernmost part of the continent of Africa, situated on the Atlantic Ocean coastline, is Senegal. On this Tuesday, the 2nd day of April in the year of the Lord 2024, a 44-year-old Basserou Diomaye Faye, whom some would argue is a political neophyte, is being sworn into office as the fifth (5th) president of Senegal since it gained independence in 1960.

    He joins the pantheon of Africans who transitioned from prison to presidency. The first to transition from prison to prime minister is Osagyefoh Kwame Nkrumah of Ghana, who due to his political activism was arrested by British colonial authorities and sentenced to one year in prison. But he was released from prison to become the leader of government business and, in 1952, became the prime minister of the then Gold Coast, now Ghana.

    The second time was in 1994-1999 when the iconic leader, Mr. Nelson Mandela, who had just finished serving a 27-year jail term in the notorious Robin Island prison, was ushered into the presidency of South Africa—an erstwhile apartheid enclave.

    Mr. Mandela, a legal practitioner who was riled up by the policy of the rule of the white minority over the black majority foisted on his beloved South Africa, which is an antithesis to the grand norm of democracy—majority carries the vote.

    That is a governance principle propounded and practiced by the whites in the Western hemisphere, with its origin in Greece and later perfected in France; but which they decided not to honor in South Africa. The contradiction was so glaring and extraordinary that the white minority, buffeted by white supremacists across Europe and North America, could not sustain their oppression and subjugation of the majority blacks by operating double standards. They had to succumb to the pressure of resistance spearheaded by the irrepressible Nelson Mandela, even while in incarceration.

    The subsequent collapse of apartheid was so epochal that an autobiography written by Mandela about his experience in jail titled: “The Long Walk To Freedom” became a bestseller and even a smash-hit/box office movie.

    The iconic Mandela is followed closely in the hierarchy of leaders who transitioned from prison to presidency by Chief Olusegun Obasanjo of Nigeria, 1999-2007. As readers may recall, he was clamped into jail by the military junta, Gen. Sani Abacha, who ruled with an iron fist over Nigeria from 1993-1998.

    The fearsome and autocratic army general could not stomach what he deemed as Obasanjo’s meddlesomeness in his administration by criticizing his policies and programs, so he framed him up as a coup plotter. Thereafter, he convicted him, and he was on the death row.

    Yes, Obasanjo was literally on his way to the firing squad for execution or about to have the horrific hangman’s noose put around his neck before he was saved by the forces that fed the fearsome Abacha with poisoned apples or tea, as the case may be, and he passed away before he could send Obasanjo to the gallows.

    The background information above is critical to putting into context the circumstances that brought about Osagyefoh Nkrumah emergence in Ghana, Mr. Mandela’s rise in South Africa and Chief Obasanjo’s in Nigeria, compared to the current advent  of Diomaye Faye in Senegal.

    While the forces that propelled,Nkrumah, Mandela and Obasanjo to the top of political hierachy of the countries are both external and internal, in the case of Ghana,they made up their mind that self rule was not negotiable at that point in time; for South Africa, the black majority was sick and tired of white minority rule and sought the support of fellow Africans to help unshackle them; in Nigeria’s situation, although slightly different, it was a case of the people being fed up with military rule, therefore, they became determined to force the dictators back to the barracks with the active support from European and North American countries.

    It is important to note that the motives for supporting the exit of the military from political power were not purely altruistic. The Europeans and Americans who backed the civil society activists at the time were primarily motivated by their desire to promote the concept of democracy in competition for the hearts and minds of Africans with the Union of Soviet Socialist Republics (USSR)—reduced to just Russia—and the Republic of China as well.

    These global powers were also attempting to spread their socialist and communist ideologies across the African continent as a counterforce to Western democratic principles.

    The situation in Senegal differs significantly as evidenced by the emerging self-consciousness among Africans, particularly those in francophone countries still under the yoke of France, their former colonizer.

    These countries seek genuine freedom from France, which, despite granting independence to Senegal in 1960 (the same year Nigeria gained independence from Britain), has maintained a tight grip on its economy.

    The French further entrenched itself in Africa by implementing the obnoxious policy of establishing the CFA franc zone, an economic and monetary area comprising France and 15 countries in Sub-Saharan Africa.

    Frankly, the CFA franc zone, although touted as an economic stability mechanism by the French authorities, is actually akin to a straw fixed into the economic marrow of their former colonies, to practically suck their resources to boost the French economy and to the detriment of their former colonies.

    To stay focused on the subject at hand, France’s relationship with her former colonies is a matter for discussion at another time. So, it is critical at this jucture to dwell further on how political persecution has increasingly acted as a catalyst for success at the polls for politicians , not just in Africa but beyond.

    Before delving further into the events that led to Nkrumah clinching the prime minister position in Ghana in 1952, and 42 years after, Mandela becoming President of South Africa in 1994, five years later Obasanjo ascending to the position of president in Nigeria in 1999, and twenty-four years later Faye in Senegal in 2024 attaining the position of president of Senegal, it is imperative that we take a quick look at how persecution by incumbent presidents or heads of states (as the case may be) can bolster the chances of opposition figures to win sympathy and, subsequently, the votes to clinch the presidency in Africa and even in the almighty United States of America (USA).

    Take, for instance, former President Donald Trump, the 45th president of the US, who served from 2016 to 2020 and is seeking election as the president of his country in the upcoming presidential election in November this year.

    He is on record as the former American president who has been prosecuted—some would say persecuted—the most in the history of the US, and by the administration of the president to whom he lost the presidency barely four (4) years ago.

    A statement on the website of the Public Broadcasting Service (PBS), a private, nonprofit American corporation whose members are the public television stations of the United States, offers a balanced assessment:

    “Last year, Donald Trump became the first former president of the United States to be criminally indicted. Over the span of five months, he was indicted in four separate criminal cases and charged on a total of 91 felony counts”.

    Continuing, it stated that the situation is so unprecedented that New Yorker magazine journalist Susan Glasser quipped in a recent documentary by PBS,that “Donald Trump is going to be the defendant and the candidate all wrapped into one”.

    Given the enormity of the 91 felony counts/charges against him, Mr. Trump should by now have been in jail, not to mention being the presumed Republican Party’s candidate for the November 5 presidential election, a position he currently holds.

    However, it appears that the more he is prosecuted or persecuted, the former US President Trump has been waxing stronger in the polls, deftly and thus far successfully navigating the political path to the White House. This path has been strewn with political landmines between now and when he narrowly lost it nearly four (4) years ago to incumbent President Joe Biden.

    When one compares and contrasts Mr. Trump’s political travails in the US to Basserou Diomaye Faye’s ordeal in Senegal, it becomes evident that the political persecution experienced by Mr. Faye, who was jailed in April last year for a comment he made on Facebook criticizing the incumbent government for prosecuting the very popular opposition leader Ousmane Sanko, who is his mentor, resembles the witch-hunt that Mr. Trump is accusing the US authorities, particularly President Biden, of launching against him.

    If not for the fact that the institutions of democracy in the US are very sturdy, there would basically be no difference between what is happening there and what occurred in Uganda when the incumbent president Yoweri Museveni was re-elected in 2021 after the opposition was muzzled. Museveni is alleged to have persecuted his main rival, popular musician Bobby Wine, who became a politician and was repeatedly jailed, and his wife was stripped naked by security agents allegedly on the state’s order in the process of repressing the opposition.

    In fact, following the trend which began with Osegyefoh Nkruma,Mr. Mandela, transcending Chief Obasanjo, and now Mr. Faye, if the late Alexy Navalny, the popular opposition personality who recently died while serving a politically induced prison term in Russia, were allowed to contest against Russian President Vladimir Putin, one could wager a bet that Mr. Navalny might have prevailed, much like Mr. Faye just did in Senegal. The assertion above is in light of the fact that persecution seems to have become a facilitator for victory in the polls.

    In any case, the success of the opposition in the polls in Senegal is underscored by the high level of political consciousness in that country. It is remarkable that unlike most African countries, Senegal’s political system was never truncated by any military coup d’état since its independence from France in 1960. Its consistency in the practice of democracy since 1960, when it secured independence, suggests that the concept of representative government must have taken root in that country.

    This is reflected by the fact that both Faye and his mentor Sanko were released ten (10) days before the election, and the very popular Sanko had been incurably handicapped by being barred from contesting for public office as he had been convicted by the law courts for an offense bordering on sexual abuse.

    This is perhaps similar to the manner in which the US has been trying to convict Mr. Trump of at least one out of the 91 counts of felony to stop him from participating as a candidate in the November polls. The highly popular Mr. Sanko literally had to lend his name, platform, and goodwill to the very inexperienced but unencumbered fellow victim of political persecution – Basserou Diomaye Faye to win the presidency.

    This is how going to jail, which is a symbol of persecution of both Ousmane Sanko and Diomaye Faye by the outgoing president Macky Sall, became the badge of honor which the pair wore proudly and valiantly, and ultimately inspiring and encouraging the Senegalese youths who gave the mentee and mentor a resounding victory by garnering 54% of the votes cast on Sunday, March 24th.

    The victory was to the surprise and likely consternation of President Sall, whose preferred candidate, Mr. Amodou Ba, was primed to take over from him after he failed in his attempt to, by hook or by crook, tweak with Senegal’s constitution in a bid to earn himself a third term in office.

    Although on a much smaller scale, and following a similar trajectory since their exile was compelled by political persecution at home, but not necessarily after being jailed, some politicians have returned from exile to become the president of their country. The late Mr. Jerry Rawlings, who first led the country for a brief period in 1979 and became the president of Ghana from 1981 to 2001, is one such political activist.

    Another one is then-Senator Bola Ahmed Tinubu, who, after returning to Nigeria in 1998 as a National Democratic Coalition (NADECO) chieftain-a democracy advocacy group which hounded the military that was running the government until they retreated to the barracks-and subsequently he became the governor of Lagos State in 1999. Although that happened at the sub-national level, he was to later become the president of Nigeria in 2023 with persecution by the enemies of democracy which is the military at that time-as badge of honor.

    Discerning readers can now figure out the motivation for the ‘emilokan’ battle cry.

    It may be of interest for political scientists to note the similarity between how ex-President Obasanjo tried unsuccessfully to transfer or confer his political goodwill (assuming it is significant) to the Labor Party, LP, 2023 presidential candidate Mr. Peter Obi.

    This was demonstrated by Obasanjo rising from his seat at a public event during the election campaign period and placing Mr. Obi in the seat that he vacated, in a symbolic gesture of replacing himself with the LP candidate. This mirrors the ‘Ousmane is Faye’ campaign in Senegal, which succeeded phenomenally, resulting in the clinching of the presidency by Mr. Faye in the shadows of Ousmane with an impressive margin of 54%.

    How Faye will fare as president of Senegal remains in the belly of time since the new president, a former local tax collector whose only political experience is a failed attempt at becoming the mayor of his hometown, is now saddled with the arduous task of salvaging his country from the monumental economic paralysis afflicting the once prosperous nation.

    In conclusion, there are several lessons in the phenomenon of persecution as a badge of honor or a driving force for success at the polls by politicians that need to be studied further for better understanding by social scientists who may be able to do so with empirical evidence.

    As some pundits in the US have observed, the more the former President Trump is prosecuted or persecuted, depending on the prism of the assessor of the political game unfolding in the US, the more popular he has become.

    Finally, those in the business of publicity would argue that all news—positive or negative—is good news. This is particularly true for performing artists like musicians and movie actors, who covet publicity like oxygen, in the manner that humans need air to breathe.

    Hence, some desperate artists and, to a large extent, unscrupulous political actors engage in bizarre activities such as exposing their nude videos or pictures on social media to generate buzz in the case of performing art celebrities or behaving erratically in parliament or public spaces by grandstanding and making absurd utterances to stir up a storm and create attention for themselves in the political space.

    Without a doubt, politics is about touting capacity and the ability to lead. It is also significantly a popularity contest between individuals vying for public office. Having won the popularity contest aspect and sworn into office, Mr. Basserou Diomaye Faye now faces the challenge of leading his people with sound socio-economic policies would result in the prosperity of the senegales and progress of Senegal as a country .

    This is particularly challenging because he had only ten (10) days after leaving prison to campaign and win the election. So, he may not have a blueprint on how to govern. Moreover, apart from being an ex-tax collector, Mr. Faye has never served in a public office. Herein lies the potentially new  jeopardy that the Senegales may have to grapple with as the curtain falls on the outgoing president Macky Sall’s not so happy ending after his unsuccessful attempt to entrench himself or plant a surrogate as president.

    Magnus Onyibe, an entrepreneur, public policy analyst, author, democracy advocate, and development strategist, and an alumnus of the Fletcher School of Law and Diplomacy at Tufts University, Massachusetts, USA, and a former commissioner in the Delta State government, sent this piece from Lagos, Nigeria. To continue this conversation and more, please visit magnum.ng.

  • How and why budget padding has been a perennial crisis and solution – By Magnus Onyibe

    How and why budget padding has been a perennial crisis and solution – By Magnus Onyibe

    Outraged senators at the plenary last Tuesday, March 12, literally pounced on their colleague, ranking Senator Abdul Ningi, who has been a lawmaker for the past twenty-four (24) years, seventeen (17) of which he has served as a senator after being a member of the House of Representatives.

    The enraged legislators in the red chambers went after the jugular of their colleague for allegedly going rogue on them by ridiculing the distinguished senators who sit in the hallowed red chambers of the National Assembly (NASS) via his claim that the 2024 budget was padded by N3.7 trillion naira, increasing from N25 trillion that he claimed was officially passed to N28.7 trillion, which he alleged is being implemented under the table by the incumbent administration.

    But the allegation of padding, for which a sanction of three (3) months’ suspension has been slammed on the errant senator representing Bauchi Central, despite his backtracking, has been adjudged by some people as using a sledgehammer to crush a common housefly.

    The truth is that in every organization or union, there are guiding rules based on certain principles to be observed by members. The aggrieved senator is alleged to have broken the rules by making a mountain out of a molehill, and his enraged colleagues were not in the mood to temper justice with mercy; hence, they literally threw the kitchen sink at him. But there is still a wriggle out room as the sanction can be rescinded or reduced.

    Incidentally, the embarrassing allegation of padding the national budget in Nigeria is not a new phenomenon. In fact, the current incident echoes the events of 2018 when then President Muhammadu Buhari, representing the executive branch of government, also accused the legislative arm of doing exactly what Senator Abdul Ningi just accused his colleagues of doing.

    However, President Buhari was not sanctioned by the senators in the way that Ningi was literally roasted because it was during the ‘cold war’ between the executive arm under the leadership of Buhari as president and the legislative branch with Senator Bukola Saraki as senate president.

    Before 2018, as far back as the year 2000, then-President Olusegun Obasanjo had a face-off with the National Assembly (NASS) over budget padding. When he withheld assent after it was passed by the lawmakers, he was threatened with impeachment, and he capitulated. Late President Umar Yar’adua, who succeeded Obasanjo in 2007, also had a similar row with NASS. Mr. Goodluck Jonathan, who became president in 2010 after the sudden passing of Yar’adua, got caught up in a similar budget padding conundrum.

    So, it is a perennial crisis. It did not matter whether the ruling party controlled both the presidency and NASS, as was the case when PDP was the ruling party that produced both the president and had the majority in NASS, and the present time with the APC as the ruling party controling both branches ; budget padding was always a sore point between the executive and legislative branches of government.

    Even if it has been six (6) years since 2018 when the presidency and NASS had a spat on account of budget padding until the current blowout, nothing has changed, except the actors in both Aso Rock Villa, the seat of presidential power, and the chambers of the lawmakers in NASS whose leaderships have been replaced by sucessive occupants following new elections and the effluxion of time.

    As Joseph Lowery, an American civil rights movement leader who was a close associate of Martin Luther King, once lamented about the civil rights situation in the United States of America, “Everything has changed and nothing has changed.”

    It is the repetition of leadership flaws like the one referenced above that justifies the putting together of my latest book: “Leading From The Streets: Media Interventions By A Public Intellectual, 1999-2019,” which is a collection of 77 articles focusing on socioeconomic and political challenges that our leaders in government have been grappling with since 1999, and about which I have written and published comments in the mass media since the return of multi-party democracy in Nigeria.

    Evidently, the recorded news of many years ago as captured in the book is now history in contemporary times. That is because similar or the same leadership flaws that bedeviled previous administrations have been resurrecting, resonating, and reverberating on a daily basis in the present times, especially in the National Assembly (NASS).

    That is why those in the corridors of power in the three branches of government need to obtain the new book, which would serve as an easy reference point or source for past misdeeds by our leaders and how to avoid the same mistakes by the present crop of leaders, as admonished by Gen. Yakubu Gowon, who graciously wrote the foreword where he made the remark: “I strongly recommend ‘Leading From The Streets…’ to all public office holders, advisers to public office holders, researchers, fellow column writers, students of journalism, and the general public.”

    As if validating the wise crack by Ina G. Scott: “Yesterday’s news is tomorrow’s history,” in the preface to my book earlier referenced, I had made the case that: “…the book (‘Leading From The Streets…’) is both a prophecy and an explanation in the same breath. That is because some of the fears that we had expressed about looming policy disasters that the actions and inactions of leaders in government could trigger or elicit way back in the days via our media interventions have come to pass.”

    Actually, there is a school of thought driven by the belief that if a mistake or error fails to be corrected, it has a high chance of being repeated. That is perhaps why budget padding, as reflected by legislators’ endurng desire to not only appropriate but also directly apply the funds, has become a sort of regular trademark of our national budget every year. Could it also be perhaps because the masses have not expressed outrage about it hence the bureaucracy has not deemed it fit to sanction the perpetrators, possibly because it is done at the highest level of governance?

    For instance, if our leaders had been guided by our counsel in the 2018 article when then-President Buhari raised the last alarm about budget padding, and we did a deep dive into the motivation and antidote, as a nation we would not have been running but remaining on the same spot with respect to the budget padding fever which has once again gripped the nation owing to Senator Ningi’s alarm.

    On page 75 of my new book, earlier referenced, we documented an article focused on budget padding published on June 25, 2018, which is nearly six (6) years ago. It is titled: “Budget 2018: Stranger Than Fiction As Presidency Accuses NASS Of Usurpation.” The piece which is still relevant to the unfolding embarassing scenario of today is basically an analysis of the fracas between the executive and legislative branches of government arising from budget padding back in 2018.

    The article underscores how things have changed in the governance space of our beloved country, yet nothing has really changed since the bad manners in governance identified as Budget Padding have remained, as if it is ingrained in the DNA of our unscrupulous public administrators in a manner that it is said that ‘a leopard cannot change its spots.’

    On that note and to put things in perspective, I would like to seek the indulgence of readers to allow me reproduce a snippet of the 2018 article earlier referenced: Here we go:

    Budget 2018: Stranger Than Fiction as Presidency Accuse NASS of Usurpation.

    “Incredibly, after Nigerians have waited with bated breath for an unprecedented 7 months that seemed like eternity, President Muhammadu Buhari has, in the course of signing the 2018 appropriation bill into law on Wednesday, June 20th, stated that the document he signed is radically different from what he submitted to the National Assembly, NASS.

    “According to Mr. President, in addition to the disruptive effect of the long delay in the passage of the appropriation bill on the economy, the National Assembly did not only cannibalize it, but the lawmakers practically engaged in a bazaar by increasing the allocation to themselves, and President Buhari is making heavy weather of it. Below is what he said at the signing ceremony: “The National Assembly made cuts amounting to 347 billion Naira in the allocations to 4,700 projects submitted to them for consideration and introduced 6,403 projects of their own amounting to 578 billion Naira”.

    The narrative above depicts a situation in 2018. Does it not seem like déjà vu that budget padding, a major point of contention between the executive and legislative arms, is recurring in 2024?

    Even with the clarifications recently provided by the Budget Planning Minister, Atiku Bagudu, in his press conference held last Thursday, stating that budget padding is not abnormal and that the responsibility for budget creation ultimately lies with legislators, many Nigerians are still perplexed by the ongoing dispute.

    Clearly, it’s the lingering animosity between the executive and legislative branches during the last regime that vilified budget padding, bringing it into the national spotlight in a very negative way.

    Prior to the 2018 budget debacle that earned senator Ningi a suspension from duty, there was a heated dispute in 2016 over the same issue, costing former House of Representatives member and former Chairman of the House Committee on Appropriation, Abdulmumuni Jibrin, his position after accusing House principal officers, including Speaker Yakubu Dogara, of attempting to pad the 2016 budget with 40 billion Naira for constituency projects.

    However, due to the political brinksmanship skills of President Bola Tinubu, the leaders of the other two arms of government—Godswill Akpabio and Kayode Ariwoola in the legislative and judicial branches respectively—are now working in harmony with him, unlike in 2018 when President Buhari and Senate President Saraki were in conflict with a Senate under Saraki’s firm control.

    Thanks to President Tinubu’s referenced political strategy, there has been no open confrontation. However, a schism has emerged within the NASS since the presidency did not challenge the NASS for reducing Government Owned Enterprises (GOEs) budget by N850 billion and allegedly padding its own budget by N1.2 trillion, bringing it to about N2.1 trillion. As mentioned earlier, such actions are not inherently wrong.

    It was Senator Agom Jarikre from Cross Rivers State who, in an outburst, exposed how the padded funds were distributed among senators, loudly complaining on the floor of the upper legislative chamber last Tuesday that he received none.

    Whether the distinguished senators merely received projects allocated to their senatorial zones equivalent to the amount revealed by Jarikre, or if they actually received or intend to receive the funds, remains to be clarified by the embarrassed members of the red chamber.

    My gut feeling was that it is the former rather than the latter that would apply. But former President Olusegun Obasanjo had in 2016 alleged that the legislators actually collect the funds and execute the proposed projects partially, while others do not implement at all. Has the situation changed?

    It now behooves the lawmakers to defend themselves by debunking the claim by Senator Ningi and reinforced by former President Obasanjo’s accusation.

    By and large, if Obasanjo’s allegation is correct, the foregoing developments are telltale signs of how Nigerian legislators are trying to usurp the role of the executives by not being content with making laws but also inclined towards being engaged directly in delivering dividends of democracy to their constituents, which going by the provisions in our current constitution, is the exclusive preserve of the executive arm of government at the federal, state, and local government levels.

    One worries that if the malaise of padding budget and lawmakers executing projects is not outlawed outright and those engaged in the crime sanctioned, as opposed to sweeping the crime under the carpet as has been done by previous administrations, the perfidy will be repeating itself again and again.

    Acquiescing with such an attitude or approach to leadership is contrary to the admonition by the iconoclastic civil rights leader Martin Luther King: “If you can’t fly then run, if you can’t run then walk, if you can’t walk then crawl, but whatever you do you have to keep moving forward”.

    In the light of the alarm about budget padding raised by Ningi, how can our leaders move the nation forward if our lawmakers keep engaging in breaching the law? That is the N2.1 trillion question begging for an answer. Would our lawmakers allow themselves to be branded lawbreakers by a critical mass of Nigerians who cannot fathom the reason or see justification for the perennial budget padding crisis?
    It’s about time that both arms of government found a permanent solution to what seems to me like a sort of enduring dichotomy.

    Keeping that in mind, and being familiar with President Tinubu’s leadership style of always prioritizing matters that need urgent solutions and not tackling all issues in one fell swoop, one is quite optimistic that in due course of time, after stabilizing the economy by reducing food inflation triggered by the removal of subsidies on petrol and naira, which is a more pressing challenge, he would be embarking on the noble mission of ensuring that the three branches of government, in the practice of democracy, remain in their respective lanes as opposed to encroaching on each other’s duties which budget padding approximates.

    In fact, at this critical juncture during which NASS is embarking on a review of the 1999 constitution of the Federal Republic of Nigeria which commenced on February 14 with a 45-member committee comprising senators and members of the House of Representatives, and given that President Tinubu has recently committed to restructuring our country, one is of the conviction that we do not have to practice the American-style presidential system of governance hook, line, and sinker. Rather, we can have a hybrid between the parliamentary system which we inherited from the British colonialists who granted us independence in 1960 and the current presidential system which we adopted in 1978, apparently without exhaustively truly debating the concept which is currently turning out to be too expensive.

    As has been argued vigorously by those who want our country to return to the parliamentary system of governance, it is the fact that we have a highly expensive NASS to sustain at a huge financial cost, with senators taking home a monthly salary of a whopping N15m and members of the House of Representatives receiving N10m salary as alleged by ex-president Obasanjo in 2016, is one of the major reasons that the recurrent expenditure in our national budget consistently takes the elephant size, leaving an ant size for capital projects.

    As part of the solution to the crisis of budget padding, our legislators should look into how the need for them to be part of the delivery of democracy dividends by getting directly involved in the implementation of constituency projects can be incorporated into the nation’s statutes book that is currently being reviewed.

    That is because legislators are the ones, apart from presidential and governorship candidates, that mainly campaign and make promises to members of their constituents during their quest for public office. That is one way that their quest to also be involved in project implementation can be legitimized to suit our peculiar circumstances.

    Now, some critics may argue that legislators would abuse such a privilege, and my counterpoint would be that we should leave them to the judgment of members of their constituents who would be privy to the information about constituency projects allocated to their homestead and under the purview of their representatives – senators and House of Representative members.

    While, they are reviewing the constitution ,they should also consider taking another look at the proposal to incorporate our traditional rulers into the governmental system which was jettisoned during the last constitution review. The fact that part of the constituency funds set aside by a senator in the 2024 budget is for disbursement to traditional rulers in his constituent validates their critical role in governance which our country has been missing by not assigning the traditional institution a role in government. Based on experience from the past,as leaders at the grassroots level, involvement of traditional rulers in governance would help in enhancing security at the community level which is currently in shambles.

    Finally, it seems to me that the alarm raised by Senator Abdul Ningi about budget padding is a symptom of a deeper malaise. It is not a mere happenstance that he blew the whistle via BBC Hausa and not English language channels like NTA, AIT, Channels TV, or Arise News.

    It is my considered opinion that President Tinubu should look beyond the surface appearance of the budget padding imbroglio to decipher or ferret out the underlying issues besetting leaders in our political ecosystem to the extent that fault lines are being created, as reflected by the resurrection of the Southern Senators Forum now to be led by Senator Tokunbo Abiru as a counterpoise to the Northern Senators Forum.

    That is addition to northern and southern governors forum. If one does not already exist, a forum of house of representatives representing the northern versus one for southern Nigeria may soon be birthed. Ideally, there should be no such thing as northern senators or southern senators; rather, there should be senators of the federal republic of Nigeria. I would like to reiterate my fervent call that we should strive to always emphasize what binds us as a nation and discountenance what divides us.

    On that note, our politicians should accept the fact that the time for politicking is over. It is now time to focus on good governance to enable the critical mass of Nigerians currently wallowing in misery due to the prevailing socioeconomic hardships to be pulled out of the economic doldrums in which they are currently mired. That ought to be the priority right now irrespective of party, region, religion, or tribe affiliations.

    For instance, as the ongoing war between Israel and Hamas rages, the opposition leader in that country, Yair Lapid, has teamed up with President Benjamin Netanyahu, both of them working together in the war room fighting for what they believe is in the best interest of their country. Similarly, Hamas, Fatah, or any other political party in Gaza, West Bank, or entire Palestine, and even the entire Arab world, have subsumed their political differences to fight the war against Israel shoulder to shoulder until it is won or lost.

    By any standard of measure, Nigeria is at war. Given the number of lives lost to outlaws and bandits daily, weekly, monthly, and annually, the level of insecurity in Nigeria qualifies our country to be categorized as being in a war situation according to the adopted United Nations, UN parameters. So, all politicians should resolve to wage war against poverty and lack of progress which are fueling religious insurgency, banditry, and secessionism currently plaguing our country. It is after that war is won that we can go back to our political trenches.

  • Herbert Wigwe, departed in a blaze, mourned like a deity by presidents, monarchs, and masses – By Magnus Onyibe

    Herbert Wigwe, departed in a blaze, mourned like a deity by presidents, monarchs, and masses – By Magnus Onyibe

    The way in which the high and mighty in Nigeria were weeping during the nights of tribute for Dr. Herbert Wigwe, who, at the time of his demise, was the Chief Executive Officer (CEO) of Access Holdings, is reminiscent of how North Koreans openly wept when their leader Kim Jong-il passed away in 2011 and when his son, who took over from him as leader, Kim Jong Un, was ill, in 2020 having been infected by Covid-19.

    The difference is that, unlike the fake tears that North Koreans are coerced into shedding by their hermit and oppressive rulers in the autocratic country that is in autarky, those weeping over the untimely passage of energetic Herbert Wigwe, his lovely wife Chizoba, and his dynamic first son, Chizi, in a horrific helicopter crash in the United States of America, USA, genuinely cried owing to their deep love for the Wigwes who lost their lives in the aviation tragedy that occurred on February 9.

    In the course of the two (2) nights of tributes in Lagos on Monday 4th and Wednesday 6th, it was awe-inspiring to behold the richest man in Africa, Alhaji Aliko Dangote, and the 14th Emir of Kano, Khalifa Sanusi Lamido Sanusi, sob and cry while narrating their very fond memories of Herbert and the profound impact of his friendship on their businesses and lives.

    According to a tearful Alhaji Aliko Dangote, “He was a pillar of support to me and my family.”
    As proof that the bond with Herbert will remain indelible in his heart, the emotionally broken Dangote stated: “To immortalize my beloved friend, my brother, and my mentee, I have decided to designate one of the major roads leading to the Dangote Refinery and Petrochemical Complex after him.”

    Khalifa Sanusi Lamido Sanusi also laid it all out in a manner unimagined: “About two years ago, I put all my savings into a trust for the education of my children. I have many, and my priority as a father is to make sure that when I pass away, they will have a good education. I told Herbert, ‘I am placing you in charge of this trust for the education of my children because I know that even if I die and do not leave any money, you will educate my children.’ I thought I would die before Herbert.”

    Who could have thought that the ‘Herbie Boy’ who later transformed into ‘Herbie Man’ but remained the self-effacing Herbert that we have always known could be the wind beneath the sail of such ‘A-list’ personages.

    Of course, Herbert Wigwe’s bosom friend, soul mate, and co-founder of the business empire known as Access Holdings, Aigboje Aig-Imoukhuede, also cried while paying his tribute.

    But one intentionally highlights the tears shed by Alhaji Dangote and Khalifa Sanusi over the late Herbert Wigwe because, in a country where tribe, tongue, and religion are strong defining factors of friendships and relationships, it is striking that while the Wigwes, who lost their lives, are lkwere from Rivers State and are of the Christian faith, the two highly respected personalities earlier referenced, openly weeping on the podium for Herbert and his wife and son, are from Kano, Fulani by tribe, and Muslims.

    To me, such tearing down of barriers of tribe, tongue, and religion between Christian Wigwe and Muslim Dangote and Sanusi indicates that all Nigerians can actually coexist harmoniously irrespective of tribe and religious belief. The reality is that the divisions along religious and tribal fault lines are concoctions of desperate politicians and extremist religionists. They can be likened to the Berlin Wall that divided East and West Germany.
    If the Berlin Wall can be brought down, upon the urging of former President of the United States of America, Ronald Reagan, who in 1990 during a visit to Berlin, Germany, toured the Berlin Wall where he famously stated, “Mr. Gorbachev, tear down this wall!”, which is a request directed at then Russian President Mikhail Gorbachev who was fueling and fostering the Cold War between the Eastern Bloc and Western hemispheres of the world, there is no reason that the tribal and religious walls erected to perpetuate the division of Nigeria between north and south, Christian and Muslim that would remain in conflict, cannot be dismantled.

    Given the quality of friendship shared between the late Herbert, Dangote, and Sanusi, like the Berlin Wall that had been brought down, the north-south divide in Nigeria, driven by those who have been fanning the embers of religion and tribal rivalry which have stymied national progress, should be eliminated by our generation and in our lifetime, because it has been proven that we all can be religion and tribe-neutral, as demonstrated and proven by the trio of Herbert, Dangote, and Sanusi.

    Beyond the fiduciary relationship between the three—Herbert, Dangote, and Sanusi—there was also the kindred spirit that transcends the artificial barriers created by those who have been dividing us as a nation, a misnomer reinforced by our forbears.

    Based on the positivity inherent in the attitude of Herbert, Dangote, and Sanusi in neutralizing their differences in tribe and creed to foster strong bonds, there should be more of such cross-cultural affinities reinforcing the truth that we are better together and we all, as Nigerians, share one destiny—as in one nation, one destiny!

    In my reckoning, it is quite phenomenal that Herbert Wigwe, at a relatively tender age of 57 without occupying any public office as governor or president, was able to touch the lives of the richest man in Africa, an ex-governor of CBN, and the 14th emir of one of the foremost cities in Nigeria, Kano, amongst other high and mighty and lowly and downtrodden Nigerians, and indeed the world where the behemoth Access Holdings has spread its tentacles.

    My friendship with Herbert Wigwe commenced when he had just resumed work at Guaranty Trust Bank, GTB. He and his wife, Chizoba, were living in a block of flats adjacent to Falomo police barracks and at the beginning of Bourdillon road in Ikoyi. In that same block of flats also lived a fellow Ikwerre man and banker with the defunct Merchant Bank of Africa, MBA, Mr. Ugo Beke, and his wife, Carol, who was also a banker.

    It was during my friendship with Ugo that I met Herbert, who was famously known as ‘Herbie Boy’ at the time.Striking up a friendship with Herbert was easy, partly because his father, Pastor Shyngle Wigwe, was the Director General (DG) of Nigerian Television (NTA), where I worked as a news correspondent.

    Mr. Kayode Ayeni, another banker at the time and a very good friend of Herbert’s, was also part of our circle.Herbert’s younger brother, Emeka, also joined our circle of friendship for a while, until he dropped out of the scene.

    As Herbert rapidly climbed the ranks at GTBank, his vibrant but highly driven and competitive nature kept him busy. He relocated to a larger home in Victoria Island, Lagos, where other top executives of GTBank resided, and pursued further education in England.

    Upon his return, ‘Herbie Boy’, the quintessential banker whom I am yet to fully grasp the reality that he is no longer with us, transformed into ‘Herbie Man’. This transformation mirrored the leaps Singapore made from third to first world, as chronicled in the famous tome titled “From Third To First World”, authored by the iconic leader of Singapore, the late Lee Kuan Yew.

    Although he did not lead a country or even a state, Herbert was larger than life. As his fortune grew, he commensurately grew in stature, influence, and philanthropy, as attested to by those who have paid tributes to him, ranging from those in the top echelon of government, presently and in the past, all the way from the 40th President of the US, Mr. Bill Clinton, to the ex-President of Nigeria, Chief Olusegun Obasanjo.

    Serving presidents that have eulogized Herbert Wigwe include President Bola Tinubu of Nigeria and Vice President Kashim Shettima. From foreign countries are Mr. Nana Akufo-Ado, President of Ghana, Mr. Cyril Rhamaphosa, President of South Africa, and Emmanuel Macron, President of France, to mention a few for lack of space.

    When the French President, Mr. Macron, visited Nigeria in 2018 to confer France’s highest honor – Commander of the Legion of Honor – on Chief Mike Adenuga and also to declare open the state-of-the-art cultural center – Alliance Française/Mike Adenuga Centre on Alfred Rewane/Kingsway Road, Ikoyi, I was a few strides behind Herbert in the corridors of Eko Hotel as we all walked behind the French President when he was exiting the hotel.

    Recognizing him from behind, I uttered his nickname ‘Herbie boy’. Clearly, he must have wondered who was still identifying him as ‘Herbie Boy’ after he had become ‘ Herbie man’.
    But he quickly figured out that it must be from an old friend who knew him from his formative years. So, he turned and saw that the hailing was from me, then he acknowledged and moved on.

    At that point in time, Herbert’s meteoric transformation from ‘Herbie boy’ of yore to ‘Herbie Man’ had come full circle. This was evident because he had succeeded his business partner, Mr. Aig-Imuokuede, as the Group Managing Director (GMD) of Access Bank PLC since 2014.

    After transforming Access Bank PLC into Access Holdings, as evidenced by his establishment of the bank’s branches not just all over Nigeria, and Africa, but all over the world including Europe, the Middle East, and Far East Asia, in the manner that Leonardo Da Vinci might have envisioned his painting canvas before he painted the iconic Mona Lisa piece of artwork; Herbert poured all his extraordinary energy into setting up Wigwe University in his village, Isiokpo, in Rivers State.

    It is a reflection of the vibrancy and boundless energy of Herbert that Wigwe University, which was yet to take off before his unfortunate demise, had become the reference point for setting up a world-class university in Nigeria. This initiative aims to help stem the financial hemorrhage that our country suffers due to the outflow of funds into institutions of higher learning, not only in Europe and North America but even to neighboring countries like Ghana and the Republic of Benin, where English language is not the lingua franca.

    The culprit for the exodus of our wards to higher institutions abroad is the incessant strike actions often embarked upon by the Academic Staff Union of Universities (ASUU), which kept students out of school for very long periods of time.

    Remarkably, Wigwe University is not the first to be set up by a banker. There is the one founded by Mr Adedeji Adeleke, part owner of the defunct Pacific Merchant Bank. The university is named Adeleke University and it is located in Ede,Osun state. Prior to that, there is also the top-class school established by the late Mr. Oladele Olasore, an ex MD/CEO of First Bank, named Olasore International School. Mr. Jim Ovia, the founder/chairman of Zenith Bank, has also floated James Hope University located in Agbor, Delta State.

    Additionally, Wigwe University is also not the first world-class university to be established in Nigeria with a similar vision to encourage our youths to pursue education domestically. Previously, there have been Bell University in Otta, Ogun State, owned by former President Obasanjo, and the American International University in Yola, founded by former Vice President Abubakar Atiku.

    However, Wigwe University is the first to be explicitly branded as having been established to address the identified challenge of capital flight from Nigeria owing to the huge volume of hard currencies which our youths that seek education abroad pay in school fees out there , consequently draining our treasury and contributing to brain drain.

    The powerful positioning enhanced by aggressive media blitz has made Wigwe University the benchmark for not only world class but superior university education in Nigeria, even before admission processes are finalized, let alone the commencement of lectures.
    The acronyms of his name, Herbert Onyewembu Wigwe, H.O.W., could have been an ideal name for his university. However, seemingly anticipating his untimely demise, he audaciously chose to name it after himself—Wigwe University. Herbert thus, perhaps inadvertently, wittingly or unwittingly but boldly immortalized himself.

    The spectacular birth and rise of Wigwe University in popularity is a testament to the power of publicity and a reflection of how competitive and aggressive Herbert Wigwe can be whenever he pursued a course.

    Little wonder then that fittingly, Herbert Wigwe, who passed away in a blaze, has been honored by Presidents, Royalties, and the Masses because although he was a hyper-driven entrepreneur, he was equally a passionate philanthropist who spared no cost at giving succor to the less privileged as reflected by his involvement in the building of churches and awarding scholarships to indigent people in the church where he worshipped.

    In fact, I was stunned by how influential Herbert Wigwe was across the country irrespective of creed or culture when in a conversation with the revered Sultan of Sokoto, His Eminence Saad Abubakar, about his planned trip to Ibadan, Niger Delta, and Kogi states to honor invitations to events in those locations, of which he invited me to join him, I was made aware that the private jet that would convey His Eminence the Sultan to those locations was to be provided by Herbert Wigwe.

    On further inquiry, the sultan enlightened me that Herbert attended Federal Government College, Sokoto, and he referred to him as a friend. That was the first time that I was made aware of that leg of Herbert’s journey on mother earth.

    Even as he was a mentee to Alh. Aliko Dangote, who acknowledged that in his tribute, Herbert had a couple of other mentors and mentees too. Mr. Henry Imasekha, an investment banker and former accountancy teacher who once taught him when he was preparing for the qualifying examinations to become a chartered accountant, is one of them.

    In reciprocity, Herbert also became a mentor to Imasekha’s children. One of them, Amena, recently got married, and Herbert was like her godfather and served as what may be referred to as a ‘sponsor’ in a church wedding, especially in a Catholic setting.

    Being that I am close to Mr. Imasekha, the father of the bride, Herbert and I sat next to each other behind the father and mother of the bride in a small pre-wedding ceremony held in the Wellness Centre, Alexander Avenue, Ikoyi.

    I reckon that it must have been one of the few and rare occasions that Herbert’s mind was temporarily at rest as both of us sat quietly during the solemn and somber ceremony.

    As the event was drawing to a close, I broke the silence by saying to him, “one does not get to see you anymore these days, apparently a lot has changed.” While I was expecting the usual ‘big man’ talk about being too busy, etc., but Herbert stunned me by turning to face me squarely and saying to me in a matter-of-fact manner, “Magnus, nothing has changed. You are the one that is not coming around.”

    Because I was unprepared for his straight-up answer, all I could do was nod my head in agreement. Another significant encounter that I had with Herbert was at the birthday party of Mr. Osagie Okunbo, the country chairman of SHELL oil company in Nigeria. I was invited to the party at his residence by no less a personage than the man who doubles as my senior brother and friend, who appointed me into political office in 2003 as a commissioner in the Delta State government, Chief James Onanefe Ibori.

    Apparently, Okunbo and Ibori were classmates in primary school. While we were in Okunbo’s house, sharing in his birthday joy and merriment, I was seated next to Alh. Aliko Dangote. Perhaps word went out to Herbert that Dangote was in the house, and probably because he had been trying to track him down, in a matter of moments, he arrived.

    Since one of the most aggressive bankers of our time before his tragic death-Herbert had to have a conversation with the richest man in Africa and foremost industrialist,I had to yield my seat next to Alh. Dangote for Herbert to have his impromptu meeting. Typical of him, the meeting was over in a jiffy.

    Then Herbert rose from the seat, offered it back to me, and before dashing out to chase his endless pursuits in the world of business and philanthropy, he placed his hands on my shoulder and whispered into my ears, “I owe you one.”

    After uttering those words of appreciation, Herbert, who was visibly excited, bounced out of Okunbo’s house and into the night, chasing other yet to be harnessed opportunities that abound in our country and indeed the entire world that the fearless entrepreneur, Herbert Wigwe, had made his canvas for planting the imprimatur of Access bank branches and related entrepreneurial ventures beyond banking.

    Herbert reminds of the Dutch Post-Impressionist painter Vincent Willem van Gogh, who is among the most famous and influential figures in the history of Western art but lived for only 37 years. It is on record that in just over a decade, Van Gogh created approximately 2100 artworks, including around 860 oil paintings, most of them in the last two years of his life.

    Does the birth and demise of Herbert Wigwe in a relatively short period of 57 years not indicate that he was a Van Gogh equivalent in banking, as he had in a similar record short time, along with his partner Aigboje Aig-Imuokhuede, transformed a struggling mercantile bank from a back street institution into the global financial powerhouse that Access Holdings has become under the watch of the fearless one, Herbert Onyewembu Wigwe, CFR (15 August 1966 – 9 February 2024)?

    As Aigboje would note in a conversation during those mournful nights of keeping vigil in the office that he and Herbert shared while waiting for the return of Herbert’s remains, it was revealed that he and Herbert actually engaged in scenario building wherein plans were made in the event that any of them – Aigboje or Herbert- passed away suddenly.

    But they never thought of a situation whereby any of them would suffer the calamity of death along with wife, how much more a son. It was truly unimaginable, but that is the reality that we are all now being compelled to sadly live with by forces beyond our power.

    I have an idea of exactly how Herbert’s parents are feeling right now. That’s because I suffered a similar fate to theirs when my adorable 18-year-old daughter, Kikaose, on track to become a law graduate from the University of Birmingham, England, passed away in 2017 due to a failed surgery for appendicitis due partly to lack of a ventilator at the then Gold Cross Hospital on Bourdillon Road, Ikoyi, now known as Lagoon Hospital.

    It is needless to point out that the journey through life without my daugher kikaose has been a roller coaster of emotions since 2017 when we lost her.

    So my advice to Herbert’s surviving children, siblings, and parents is to grieve gracefully. According to grief experts David Kessler and Elizabeth Kubler Ross, there are two types of grief: Good grief and Bad grief. Bad grief is dangerous. To survive or avoid it, one needs to find a coping mechanism.

    It is a good thing that Herbert’s dad is already a pastor. If Herbert’s mum is not already a deacon, she should strive towards becoming one so that she can join Pastor Shyngle Wigwe, her husband, in immersing themselves in the service of God. That would be a great coping mechanism for them.

    My coping mechanism is writing, and any other activities that can occupy my mind, including fond memories of my daughter in the short period of 18 years that she was with us.

    Shortly after her sudden passage, I wrote a book in her memory titled: “Beyond Loss & Grief: The Story of Kikaose Ebiye-Onyibe. A Survivor’s Manual For Coping With Loss of Child”. It is still available in leading bookshops nationwide and can be found on Amazon/Kindle. The book contains the personal experience of my family and l ,as well as nuggets of wisdom from world-class grief experts earlier referenced, shedding light on the dark tunnel of grief that my family and l, particularly Kikaose’s siblings passed through in the early days of the tragedy.

    Now, it would be remiss of me not to draw attention to the wise counsel contained in the book by the grief specialist, Elizabeth Kubler Ross, titled “Death And Dying”. In the book, she emphasizes that the pain of loss will always be there, and grief is a normal window into pain that should be allowed to ventilate our lives in positive ways. In other words, we can grieve, but we should not allow grief to steal our peace and happiness.

    In conclusion, Herbert, Chizoba, and Chizi did their time here on earth and have departed.
    Sooner or later,we all will also one day yield the ghost back to God who graciously lent it to us.
    It is quite striking that as an exception to the popular marriage vow – till death do us part – which is to the effect that ideally only death can validly separate a wedded couple , Herbert and Chizoba surpassed that vow by not being separated by death, as both of them departed this world together without parting ways.
    May the good Lord grant them eternal rest.

    For the rest of us, while we are still here on Earth, let us do good so that we too may be celebrated like Herbert, his wife, and son who were so bonded by love that the trio departed Mother Earth together and have been mourned by presidents, monarchs, and the masses like deities.

    On that note of finality, my fervent prayer is that the souls of the departed Herbert, Chizoba, and Chizi Wigwe rest in the bosom of their creator.

  • Reason for the spat between NLC and President Tinubu – By Magnus Onyibe

    Reason for the spat between NLC and President Tinubu – By Magnus Onyibe

    Recently, Nigerians, under the banner of the Nigeria Labour Congress (NLC), have been taking to the streets to voice their dissatisfaction with President Bola Tinubu’s reforms, which have led to hardships for the masses.

    These street protests, the fourth organized by the NLC, since the ascension of President Tinubu into office about nine (9) months ago, occurred last Tuesday. It was aimed at opposing the adverse effects of policies such as the removal of petrol subsidies and the consolidation of multiple foreign exchange rates to the Naira. These policies, which have directly impacted the cost of living, are contributing to a significant decline in President Tinubu’s job approval ratings.

    In fact, owing to the hard times in which a critical mass of Nigerians are contending with, it is possible that the president’s current approval rating is even lower than it was in February last year, when approximately 8.9 million out of the estimated 88 million registered voters who collected their Permanent Voters Card (PVC) cast their votes for him in the presidential election.

    Coincidentally, my recently published book, “Leading From The Streets: Media Interventions By A Public Intellectual 1999-2019,” sheds light on pertinent lessons on leadership which should not be only from those elected into public offices, which is the erroneous impression held by most people, but from ordinary people in the streets.

    In the book, which is scheduled for public presentation in May, I espoused the message that leadership is not only expected from those who hold high political offices such as the presidency, the National Assembly, or governors’ mansions across the 36 states of the federation and their respective houses of assembly.

    But leadership is also expected from all of us as humans in our various endeavors, including labor leaders, and other folks going all the way down the ladder regardless of our positions on the social hierarchy.

    However, leadership entails responsibility, altruism, and patriotism. The absence of these essential leadership qualities and none  application of the principles, seem to be at the heart of the conflict between President Tinubu and the NLC, led by Comrade Joe Ajaero.

    As a public policy analyst and democracy advocate, I find the NLC’s decision to call for protests significant and even poignant  because it signals a mobilization of the masses to hold the country’s leadership accountable by protesting on the streets. It is fiting that it is actually legitimate to do so as protest is an intrinsic tool in the practice of democracy.

    The legitimacy of protests as a crucial aspect of a true democratic environment is evident in the fact that a government leader, such as Seyi Makinde, the governor of Oyo State, participated in the NLC march last week. That move is reminiscent of President Joe Biden joining United Auto Workers (UAW) protests in the USA. Similarly, the majority leader of the Lagos State House of Assembly HON. NOHEEM BABATUNDE ADAMS welcomed protesters in Alausa on behalf of the speaker, demonstrating support for the masses by acknowledging their plight and promising to pass their concerns across to his fellow lawmakers at the subnational level.

    At the national level, the response from the National Assembly (NASS) to the resistance stimulated by the  (NLC) was warmly received by Senator Diket Plang, chairman senate committee on labour.

    The significance of the recent street protests in Nigeria, whether by youths or organized labor, lies in the unprecedented demonstration by the Nigerian police that they can be allies of the people, as their slogan suggests: “the police is your friend.”

    Apparently, the much vilified Nigerian police had imbibed the culture of leading from the streets.

    Against the backdrop of the horrible experience of both protesters and the police during the unfortunate incident of #EndSARS in October 2020 that resulted in loss of lives on both sides, the offer of water and biscuits to protesters by Lagos State Police Command was extraordinary.

    However, the situation took a new turn last Thursday when President Tinubu, during the launch of the second internal railway line in Lagos, used the opportunity to address the NLC directly, by taking a swipe at the leadership, thus stirring up further dialogue on the matter.

    When the NLC showed partisanship by aligning with Peter Obi’s Labor Party (LP) during the 2023 general elections, it lost its moral authority as a labor movement with altruistic intentions. Instead of remaining neutral, its leaders, especially Joe Ajaero, ventured into politics and faced backlash in his home state of Imo when the state governor, Senator Hope Uzodinma, was seeking re-election and Ajaero got into a fracas with political thugs during which he was unfortunately rough handled.

    In light of the above nasty experience highlighted above , NLC has to re-examine itself  to determine whether it is not erroding its moral authority by getting involved in partisan politics or remaining neutral.

    While organized labor may have valid grievances against the incumbent government for failing to fulfill promises or agreements within its anticipated time frame, President Tinubu also makes a point in criticizing organized labor for being too quick to resort to strikes, staging four within nine (9) months of assuming office.

    His argument that Nigerians should give his government more time to implement its Renewed Hope development agenda resonates with me and likely with many Nigerians, especially the 8.9 million who voted for him on February 25 last year based on the result produced by the Independent National Electoral Commission, INEC and affirmed by the Supreme Court.

    This is eight million more votes than those cast for his closest rival, former Vice President and PDP presidential candidate, Waziri Adamawa Atiku Abubakar, and 12 million more than those for Mr. Peter Obi, the Labor Party’s candidate.

    With the NLC openly aligning with Mr. Obi and the LP during the 2023 elections, President Tinubu has reasons to be suspicious of the NLC’s intentions for going strike so persistently. Below is how President Tinubu literally stirred up the hornet’s nest. “The Labour Union should understand that no matter how long we cling to our freedom and rights, the four strikes within nine months of an administration’s  existence is unacceptable.

    “If you want to participate in the electoral process, wait until 2027. If not, maintain peace. You are not the only voice of Nigerians.”

    The NLC’s apparent eagerness to criticize him and the ruling APC as well as embark on strikes without exercising patience suggests that it may still be in campaign mode over a year after the general elections held on February 25 last year had been concluded.

    That suspicion is valid owing to the conventional wisdom, ‘in politics,all weapons are legitimate’.

    Therefore, there is no doubt that there exists mutual suspicion between President Tinubu and the NLC, leading him to criticize the NLC, to which the labor union responded in kind within twenty-four hours after the admonition:

    “It is regrettable that the President seems oblivious of the profound hardships endured by millions of Nigerians. The pervasive hunger, unemployment, housing insecurity, and escalating costs of basic necessities such as food and healthcare demand immediate attention and decisive action……Yet, instead of addressing these pressing concerns, President Tinubu appears preoccupied with political calculations and future electoral prospects……The NLC wishes to emphasize that our primary objective is not to vie for political positions, including that of the President. Rather, our sole focus is on advocating for effective governance that prioritizes the welfare and security of all Nigerians. We urge President Tinubu to redirect his efforts towards fulfilling this fundamental duty of public office, rather than engaging in political rhetoric.”

    While it is fair enough that the leaders of organized labor in Nigeria have exercised their right of reply, is the spate of strikes justified and does it show leadership on the part of the NLC? In fact, is it not telling that the other half of organized labor, Trade Union Congress, TUC, backed off from the last street protest?

    Perhaps, it is because that branch of the labor union is in cognizance of the dictum: “Rome wasn’t built in a day”. hence they are patient enough to understand that President Tinubu doesn’t claim to possess a magic wand that would make all the socio-economic and political challenges afflicting long-suffering Nigerians vanish overnight. Therefore, the desired changes would not manifest like magic.

    As such, anyone expecting such immediate solutions would be living in a fantasy world akin to Alice in Wonderland.

    The reality is that change takes time to manifest. Unlike humans, who can act with immediacy and speed, policy changes are often bogged down by bureaucratic bottlenecks designed to maintain the integrity of the public administration system. If changes are made without due process, laws may be broken, and that would affect the integrity of government and governance. And that would not be in the best interest of neither leaders in government house nor leaders on the streets.

    Indeed, we must all accept that government is a vast bureaucracy, comparable to a train that requires a significant amount of energy to propel it before it can leave the station. It’s also like an aircraft that experiences turbulence during takeoff.

    As we know, after the initial burst of energy required for takeoff, both trains and aircraft encounter difficulties that gradually diminish as they gain velocity or altitude, respectively. Similarly, I would argue that it will take time for the country under the current leadership to overcome its current challenges.

    It is difficult not to admit that just nine months in leadership at Aso Rock Villa is too short a period for significant changes to be made in an economy or country that has been described by some as a “dead man walking.”

    As universally acknowledged transitioning from policy conception to implementation can be a lengthy process, spanning from the initial idea to its execution.

    Therefore, it may be overly optimistic to expect President Tinubu’s policies to take full effect in less than a year. In that regard, one would align with Nobel laureate and literary icon, Prof. Wole Soyinka, who on a recent visit to President Tinubu stated that:

    “Something you may have noticed about me is that most heads of state, when they take office, I always leave them alone for about the first year,” Soyinka said.

    “I don’t know if you have noticed that because they need… I know when they come in, they don’t start from ground zero….They often start even lower than ground zero and they have to make up….So I have this personal policy, whether it is Obasanjo, Jonathan or Buhari, in the first year, I will never say anything….So, I’m adopting the same principle this time. At the end of one year, ask the same question again and listen to my answer.”

    Even in the private sector, it’s uncommon for boards of directors to expect Chief Executive Officers, CEOs newly appointed into office to significantly alter the fortunes of their firms within such a short timeframe of a mere 9 months. It is therefore unsurprising that President Tinubu is appalled by the avalanche of strike actions numbering up to four staged within nine months of his tenure.

    While the NLC emphasized that the government has been engaging with organized labor with respect to the hardships being endured by the masses, of which it has acknowledged and outlined interim solutions and palliatives, it is aghast that the promised policy changes have yet to materialize. However, at this juncture,it’s worth considering whether the NLC has fully acknowledged its role as being only one part of Nigeria’s labor landscape, as President Tinubu has pointed out to them.

    The other component of the economy is the employers of labor represented by the Nigerian Employers Consultative Assembly (NECA). Shouldn’t collaboration with NECA also be factored into the efforts to improve the economy of the country, of which the investors or entrepreneurs are the playmakers?

    That is the prism from which I am assessing President Tinubu’s recent meeting with influential figures from various industries, including Africa’s richest man, Aliko Dangote, and Tony Elumelu, a strong advocate of Africapitalism.

    As an aside, Elumelu’s brainchild, the Tony Elumelu Foundation (TEF), which focuses on empowering youth with entrepreneurship skills and seed funds across 54 African countries, is currently being studied at Harvard Business School owing to its unique blend of business and philantropy values which are the underguarding principle of his Africapitalism ideology.

    The aforementioned individuals, along with other eminent business colossus including Alh. Samad Rabiu of BUA Industries, were invited by President Tinubu to help devise solutions to address the economic challenges facing Nigeria with a view to stabilizing the economy.

    Obviously without the input of the likes of Aliko Dangote, whose firm is the largest private sector employer of labor, Mr Jim Ovia, chairman/founder of Zenithbank , Mr. Femi Otedola of Geregu Power and First Bank, Amina Maina (VP NESG), Mr. Boye Olusanya, GMD of Flour Mills, Mr. Segun Ajayi-Kadir (DG MAN), Mr. Bismarck Rewane of Financial Derivatives, Samaila Zubairu (AFC), Innocent Chukwuma founder/CEO of Innoson Motors, Mr. Jubril Adewale Tinubu of Oando, H.E. Charles Soludo, Anambra State Governor, H.E. Dapo Abiodun, Ogun State Governor, Mr. Olayemi Cardoso, CBN Governor, Mr Kola Adeshina of Sahara Energy amongst others, how can the possible solution to the enormous economic challenges besetting our country be holistic?

    In reassuring Nigerians of his commitment to work assiduously towards pulling the economy out of the current doldrums that it is mired, he renewed his vow while delivering the speech at the Lagos railway commissioning ceremony during which he had expressed reservations about NLC hostility towards his administration:

    “I speak to Nigerians through this podium that change is possible, and change we must achieve. Progress we must achieve. It is not about a single individual. It is about the highest growing population in the world.”

    On optimistic note,Nigerians may not have too long to wait for respite as Finance Minister and coordinating minister of the economy Mr. Wale Edun has stated that the implementation of some of the palliative measures such as payment of N35,000 to workers for 6 months promised a few months ago, compulsory payment of N25,000 to 12 million households to ameliorate the hardships being experienced by the most vulnerable in society is also set to be commenced. The release of 102 tons of grains in strategic reserve promised by president Tinubu is also ongoing according to Agriculture minister Abubakar Kyari.

    But the masses are so anxious and distressed that when givernment stays silent while working on its plans to alleviate poverty, such as not responding to the calls for a reversal of the policy of subsidy removal on petrol and naira,it would be pilloried for being insensitive to the plight of Nigerians.

    If it makes pronouncements about projects and programs aimed at hardship reduction before they are ready for implementation, such as CNG buses and new minimum wage, it would be accussed of not being sincere with Nigerians by raising their hopes with empty promises.

    Basically, it is a case of if government is silently working behind the scenes , it would be damned. If it acts boldly and openly it wouid also be damned.

    That is simply because the masses have reached their wits end and justifiably so.

    Hopefully with the promises on the cusp of being kept by the Tinubu administration, the hardships in the land would be reduced while agreement on minimum salary, of which a committee has been set up ,would be deliberated upon and settled, even as the implementation of the use of Compressed Natural Gas, CNG as alternative fuel for powering vehicles gets primed for implementation sooner than later to ease the pains of the critical mass of Nigerians facing the threat of being crushed by food inflation that has estimatedly hit the 30% mark based on Nigerian Bureau of Statistics, NBS survey.

    More good news is that as a result of the recent drastic measures taken by the leadership of the CBN, the naira exchange rate against foreign currencies has been improving compared to when it was on a free fall.

    Similarly, international/local crude oil syndicate of thieves who have been sypphoning the products and denying the economy of badly needed income, has been smashed through the help of private security firm,Tantita.

    Prior to their being checkmated, the stealing of our crude oil was so much that our export of the commodity dropped to as low as less than 1 million barrels per day, which is far below the capacity of our country which had attained a level as high as 2.2m  a couple of decades ago.

    Happily, crude oil production has now been ramped up to 1.5m barrels per day and on track to reach the 1.7m barrels projected in 2024 budget which the country had been unable to meet, hence the supply of Foreign Exchange,FX into the economy has been far less than demand and the reason the economy has been on a tail spin.

    The  positive development of income from crude oil sales has given the economy a new bounce since it amounts to more FX  income, as it is the scarcity of it that had made the economy anaemic.

    Also importation of refined petroleum products which had been gulping billions of dollars, sometimes more than we earn from crude oil sale,has been reported by Information minister, Alhaji Mohamed Idris Malagi as having dropped by up to a billion litres since subsidy on its pump price was scrapped.

    Arising from the above, using  the upcoming one year anniversary of this administration on 29 May as a milestone, and  all things being equal, happy days may not be in the too distant future for long-suffering Nigerians as the measures so far being implemented are expected to start yielding succor to the hoi polloi that have apparently not given up on their motherland despite the tough and rough times that they are going through.

    Magnus Onyibe, an entrepreneur, public policy analyst, author, democracy advocate, development strategist, alumnus of Fletcher School of Law and Diplomacy, Tufts University, Massachusetts, USA, and a former commissioner in Delta State government, sent this piece from Lagos, Nigeria.

    To continue this conversation and more, please visit www.magnum.ng.

  • As Nigeria returns to Ngozi Okonjo-Iweala’s matrix for managing the economy – By Magnus Onyibe

    As Nigeria returns to Ngozi Okonjo-Iweala’s matrix for managing the economy – By Magnus Onyibe

    Currently , interest rate for treasury bill is at an all time high of 17.5% for 90 days, while 180 days rate attracts 19%. With the juicy offer becoming once again available in Nigerian market, international portfolio investors are falling over each other in their quest to pick up a piece of the pie. The renewed appetite for Nigerian treasury bills by international investors is reminiscent of the days of Dr Ngozi Okonjo-lweala, first as the finance minister(2003-7) under former president Olusegun Obasanjo and later as the coordinating minister of the economy (2011-15)during the tenure of Goodluck Jonathan as president.

    Back in the days when Nigeria’s economy was under the watchful eyes of the current  Director General of the World Trade Organization, WTO , Nigeria was listed in JP Morgan index. That means our financial products were being actively traded in the international market and foreign exchange was flowing freely in and out of Nigerian economy. Hence the exchange rate of the naira to the dollar at that time was hovering around a mere N197-199 to one dollar(1$) which is way below the current N1,500 to a dollar.

    But our country got dropped from the index in the aftermath of Nigeria’s then CBN governor, Godwin Emefiele banning importers from accessing foreign exchange from the Central Bank of Nigeria,CBN, for 43 items that can be produced locally.

    Frowning at that policy, coupled with other measures that were stifling to foreign investment, portfolio investors exited in droves from Nigeria signaling the tumbling down of the naira the slope even as the CBN was strenuously shoring it up with practically all of our country’s income from the sales of our crude oil.

    Since most of the suffocating rules and barriers to doing business are currently being changed or removed, there has been a paradigm shift which is being pursued both at the federal ministry of finance and CBN levels by President Tinubu’s  administration.

    It is for the reasons above that Nigerian economy is about to get some respite following a return to orthodoxy in central banking as recently revealed by the new CBN governor, Mr Yemi Cardoso and evidenced by the fact that portfolio investors are currently hot on the heels of Nigerian treasury bills and other financial products, resulting in a remarkable free flow of the dollar into Nigerian economy.

    Compare 2011-2015 when Okonjo-lweala was holding sway as the coordinating minister of the economy to Buhari era (2015-2023) when novices in the management of the economy were incharge and the naira crashed to N281 and further fell to N420 before the exit of that administration from Aso Rock Villa on 29 May 2023 , and the naira current free fall to N1,500 to $1,following the floating of the naira in the past eight (8) months of the incumbent administration taking charge of affairs in our country; and it would be clear to readers why Nigerian economy is currently starved of dollars making her look as scorched as the sahara desert when it has not received rainfall in an extensive period of time.

    In an interview with Aljazeera television in 2016 after Okonjo-Iweala had exited  office as finance minister of Nigeria ,she revealed the secret of how she was able to  keep the economy going with steady supply of dollars, hence the exchange rate was more reasonable and not volatile as it is currently.

    “ lf you don’t pay attention to the fundamentals of having a stable and good exchange rate policy, inflation under control, manageable fiscal defit and debts, there will continue to be trouble in the economy”

    With all the listed economic variables that the experienced financial expert warned the managers of the economy not to take for granted heading south , no wonder the Nigerian economy is in trouble, perhaps even beyond the imagination of the former Nigerian finance minister and current WTO, DG.

    If there is one thing that Nigerians must come to terms with, it is that socioeconomic reforms are no tea party.If they were, the Nigerian economy would have been reformed during the first coming of then-general Muhammadu Buhari as the military Head of State of Nigeria, 1983–1985.

    It was at that time, which is about 40 years ago, that the International Monetary Fund (IMF) demanded that the Nigerian economy be restructured to facilitate financial bailouts by the Bretton Woods institution.

    But then the military head of state, Gen. Buhari, discountenanced the IMF and World Bank demands as preconditions for a bailout of the economy, which was in dire straits. In defiance, it resorted to trade by barter as an alternative to the prevailing world economic order.

    Of course, it was a matter of a short period of time before the system proved to be unworkable as it got unraveled.

    Perhaps due to the inherent flaw in the antiquated method of international transactions—trade by barter—embraced by then autocratic then-Gen. Buhari regime without subjecting it to public debate or scrutiny, before he opted to adhere to the outdated system despite its obvious mismatch with the prevailing global economic norms and prevailing trend, that the administration started experiencing hiccups.

    The adoption of trade by barter by the Buhari regime was clearly further imperiled by the fact that the agencies that control the economies of the world, which are subsets of the United Nations (UN)-IMF, World Bank etc had the long reach to conspire to throw a spanner into the wheels of progress of the Nigerian economy as punishment for trying to defy the Washington Consensus, which was the prevailing economic doctrine at that point in time.

    The scenario highlighted above resulted in severe hardships for the critical mass of the Nigerian population,which brought the nation to its knees and subsequently paved the way for Gen. lbrahim Babangida’s coup of August 1985, which toppled Buhari’s barely two-year-old military regime.

    It is not a mere happenstance that successive administrations, both military and democratic regimes alike, have lacked the courage to introduce and implement the policy of subsidy removal on petrol and naira as demanded by global financial institutions.

    Although the international lenders have been insisting that the policies are critical  reforms, which they insist possess the capacity to be a game changer in the fortunes of our country by unshackling the economy from the stranglehold of the twin ogres of subsidized petrol pump price and naira, the fear of the initial dire consequences made past leaders to freeze implementation until President Tinubu emerged in Aso Rock Villa seat of power on 29 May, last year.

    Put succinctly, it is on record that for a period of about forty (40) years, our numerous political leaders that have occupied and vacated Aso Rock villa seat of presidential power did not have the gumption to remove the obnoxious subsidies, which is a decision that President Bola Tinubu made ex tempore (critics might say cavalierly) in his inaugural speech on May 29, 2023.

    That quip or adlib “fuel subsidy is gone“ by the president on the day he was being sworn into office appears to have literally opened the flood gate of misery and hardship that are threatening to overwhelm Nigerians.

    In fact, the decision can be equated to holding a tiger by the tail, which is an extremely dangerous thing to do.

    But had he not made the policy pronouncement from the get-go,perhaps his hands might have been tied and perhaps his lips would have been sealed in the manner that his predecessors had been too intimidated by the potential dire consequences of discontinuing the policy of subsidising fuel and the naira, hence they failed to act ias on the advice to eliminate the obnoxious subsidies.

    Prior to President Tinubu’s decision, which can best be described as a leap of faith,as he really did not have a full sense of what the outcome of the policy would turn out to be, by his own admission,he was full of trepidation about the hardships awaiting Nigerians in the short term.

    However, being conscious of the benefits that would accrue to the Nigerian masses if the policies of subsidy that have largely been benefiting the affluent while the poor were being imperilled, he opted to take the risk for the long term benefit of the long-suffering Nigerian masses.

    The decision that President Tinubu made to end petrol subsidy which is a policy that had been entrenched since the mid 1980s up to May 29, 2023, of which no leader in Aso Rock Villa dared to make, reminded me of the folklore: “Who Will Bell the Cat?” In this age-old tale, citizens shied away from the daring mission of placing a bell on a wild cat terrorising the community and its livestock, signalling its approach and enabling preparation for defence.

    In the wisdom of Mario Fernandez, who was born in Havana, Cuba, on February 25, 1946, and was imprisoned for political dissent by the Castro regime at the age of sixteen: “Rise above the storm, and you will find the sunshine.”

    Furthermore,there is something intriguing to me about growth which is that significant growth happens only when we think out of the box. That is when something like a leap of faith happens.

    Now,some Nigerians, especially critics of President Tinubu over his decision to end subsidies for both petrol and naira, believe that he placed the cart before the horse by removing the petrol subsidy before thinking of how to fix the inevitable consequences of the policy action in the form of the severe hardships currently being experienced by the long-suffering Nigerian masses.

    As he has admitted, he was nervous about the decision, just as his close associates were averse to it too. Hence, it was not contained in the body of his inaugural speech, which is why he had to sneak it in ex tempore.

    According to Carl Jung, the Swiss psychiatrist and psychoanalyst “The pendulum of the mind oscillates between sense and nonsense,not between right and wrong.”

    Perhaps, having observed events from in and outside of government for 24 years after serving as governor for the first 8 years since the return of multi-party democracy in 1999, and especially since 2012 when he led then opposition party APC to resist the proposed petrol subsidy removal by then ruling party PDP, President Tinubu must have seen the big  picture and recognized that Nigeria would benefit in the long run from the removal of petrol subsidies, despite the initial hardships that vulnerable would contend with in the short term.

    As Friedrich Nietzsche, the German philosopher posits:”Silence is worse; all truths that are kept silent become poisonous.”

    There was no doubt that Asiwaju Tinubu, then leader of the main opposition party, had realised that being silent about how poisonous subsidies were to the economy and people of Nigeria was not sustainable, so he was not going to sit idly and watch the country die slowly from the poison of petrol and naira subsidies.

    That is why it was a matter of how long he would allow to remain hidden, the truth about petrol subsidy, which had become toxic not only to the economy but to the country as a whole. Either the entire crude oil proceeds were being used to defend the naira by the CBN or applied by Nigerian National Petroleum Company, NNPC to purchase refined products for the country with nothing left to sort out other obligations resulting in the monumental back log of FX repayments which the US Secretary of State Mr Anthony Blinken on a recent visit to president Tinubu advised Nigeria to pay off as one of the preconditions for American investors to have interest in investing in Nigerian economy.

    President Tinubu had probably drawn inspiration from the courage exuded by the likes of Nicola Mendelsohn,a vice president of Meta (the parent company of Facebook), in charge of global business development for Europe, the Middle East, and Africa, when she was tapped to become the first woman president of the highly regarded “IPA” (the Institute of Practitioners in Advertising), the UK’s trade body for advertising agencies.

    Sharing her experience, she wrote:

    “It came down to a very basic belief: If you believe in change, you have to do it, embrace it, and be prepared to lead it.”The Facebook vice president for global business development further stated that:”The times I’ve grown the most have been the times where I’ve felt most nervous—the times that I thought I wasn’t going to be able to do it.”

    Fortuitously,Nigeria has grown since President Tinubu became the number one occupant of Aso Rock villa some eight (8) months ago. Although the people are currently getting leaner, albeit temporarily, the economy is undergoing reforms and getting sturdier.

    The growth is evident by the huge funds that are going into the federation account from crude oil proceeds and being shared between the sub nationals, which are currently in trillions of naira.

    That is why all eyes are currently on the governors to see what they have been doing to help the masses in their domains with the quantum of funds flowing into the state government’s coffers owing to the removal of subsidies on petrol and the naira.

    By the same token, activities in the stock market in Nigeria have shown significant growth, and the bond and treasury markets have also recorded remarkable increases in activity compared to this time last year.

    That is because as earlier stated, the portfolio investors that were actively engaged in the Nigerian economy when Ngozi-Okonjo-Iweala (currently WTO Director General) was minister of finance and co-ordinating minister of the economy and had taken flight during eight (8) years of Buhari’s reign are fast returning to our country.

    Little wonder agencies responsible for global economic viability rating of countries such as Fitch and S&P are becoming bearish on the Nigerian economy in their ratings by returning her status to B+ from B-.

    Dr.Yemi Cardoso, the CBN governor, affirmed the return of portfolio investments derogatorily referred to as ‘hot money’due to the propensity for such funds to take flight out of the economy as soon as instability is noticed on the horizon, as opposed to Foreign Direct investments (FDI), which usually manifest in the form of physical investments in assets and equity on a long-term basis.

    The reality is that since the Nigerian economy has not attained the maturity that would attract equity investors into ventures with strong anchors,owing to political uncertainties still inherent in our economy and country, we must make do with the so-called ‘hot money’ which guarantees continuous flow of fx into the economy enabling our country to avoid foreign exchange scarcity results in spike in naira-dollar rates in the manner that N15000 is now equivalent to $1 arising from impairments to dollar supply into our country.

    As the popular aphorism goes, “half bread is better than none.” In the absence of the type of FDI such as factories that we desire,we have to make do with ‘hot money’ to tide us through.

    That is the type we feconomic management matrix that had kept the economy afloat and the naira/dollar exchange rate steady during ex-presidents Olusegun Obasanjo and Goodluck Jonathan regimes, (1999-2015) with Okonjo-lweala as the coordinating minister of the economy.

    The return of portfolio investors was affirmed recently the new CBN governor during a parley between our country’s economic management team and senators with oversight responsibilities for finance,banking, insurance, and other financial matters.

    Here is how Cardoso put it:

    “For example over the past few days,we have had  over $1 billion that has come into the market, and this quite frankly has answered the question of whether our policies are working”

    There is no doubt in my mind that the growth trajectory of the Nigerian economy, which is on a rebound, is a reflection of the new attitude of those currently holding sway in the finance ministry and the apex bank.Nothing attests further to that than the attention that Nigeria is receiving from multilateral financial agencies such as the IMF and the World Bank, among others, that have been making appearances in Abuja and Lagos lately. Of course one is not suggesting that our country should seallow hook, line and sinker, the policy advise coming from the IMF and World bank that are often not people friendly and therefore can imperil a government by triggering civil disobedience, as was  the case in Argentina in South America and even kenya our West African neighbor. What l am advocating is that in light of the current dire financial circumstances that our country is grappling with, we must be pragmatic by not throwing away the baby and the bath water by outrightly rejecting the proposals from tye brenton woods institutions, by threading with caution in choosing policies to implement and the ones in which we need to tarry a while  before acting upon them.

    To be frank, the policy reforms that have facilitated the growth rebound have also had adverse side effects on the masses. In other words, the policy reforms have been brutal and have had collateral damages for the masses,but  the pains were not unanticipated.

    As a matter of fact, it is the fear of the misery that would befall the masses if subsidies on petrol and naira were discontinued that prevented past leaders from making the needed but painful decision.

    Unlike his predecessors, President Tinubu decided to do what most astute leaders do, which is to make difficult decisions and manage the fallouts.It is in a bid to mitigate the negative effects of subsidy removal on petrol pump prices and the naira exchange rate with foreign currencies, that President Tinubu and his economic management team has been introducing some measures to cushion the harsh effects.

    Apart from N25,000 (increased from N800,000), conditional direct cash payments to the most vulnerable in society, the administration also advanced N5 billion to each of the thirty-six (36) states of the federation to provide palliatives for the masses at the sub national level.

    In addition, a subsidized transport system in the form of the supply of mass transit buses to ease transportation nationwide, as well as plans to resort to less expensive Compressed Natural Gas,(CNG) as an alternative to petrol and diesel as fuel for vehicles, are currently awaiting implementation.

    Furthermore, upon his return from his private visit to France last week, President Tinubu directed that 102 metric tons of grains should be released from the strategic reserve to douse the rising tide of food inflation, which is estimated to be in the region of 30% or thereabouts.

    Obviously, those social safety measures have not started yielding benefits or have been inadequate; hence, hunger is still raging like wildfire on grasslands. But the latest gesture of releasing grains into the market as part of the palliatives is expected to soon help tame the rising cost of food based on the simple economic principle of supply and demand.

    Hopefully, by flooding the markets with gains like maize, millet, and rice, the prices that had spiked due to the influence of the cost of transportation following the removal of subsidies for petrol may become more reasonable.

    Last week, Bashoroun J.K Randle, a renowned chartered accountant,former President of the Institute of Chartered Accountants of Nigeria, ICAN, and current Chairman of KPMG Africa, sent me a very terse statement about the dire state of affairs in our beloved country:

    “We are in danger of STUMBLING into a toxic cocktail of financial and economic crises, political rigidities, and security disasters on account of grotesque corruption,multiple misunderstandings, and subversive miscalculations.”

    Fortuitously, upon President Tinubu’s return from his two-week private visit to France, coinciding with his decision to increase conditional cash transfers from N8,000 to N25,000, as earlier stated has instructed the release of food items from strategic grain reserves. This move which aims to alleviate the hardships currently being faced by the masses due to rising food prices, as highlighted in the latest survey report by the Nigerian Bureau of Statistics (NBS), which indicates a current food inflation rate of approximately 30%, may calm the nerves of destrought masses now currently finding it difficult to continue enduring hunger pangs.

    The president’s policy directive on the release of grains which came on the heels of the recent riot act read out by CBN Governor Cardoso to Deposit Money Banks, DMBs, for them to release the dollars in their vaults, which is beyond the mandatory threshold of 20% of their shareholders and customers funds in their treasury, may be positively impact food prices, especially as the option to import the commodities to augument local supply in case there is shortage is on  the table.

    The CBN’s enforcement of the rule that forbids banks from retaining their shareholders and customers funds beyond the threshold of 20% reduced the pressure on the naira, resulting in the Nigerian currency subsequently becoming stronger. In like manner, the price of food may be less volatile and therefore reduced when the grains are released into the market, so that a critical mass of Nigerians can go back to eating the mythical “three square meals”.

    However, the elephant in the room remains the fact that the supply of foreign exchange and food has to outstrip demand.The bane of the economy and the plight of Nigerians is that the opposite is currently the case since demand has been greater than supply.To change the equation, crude oil production needs to be ramped up, and the management of it has to be more robust than it was under the watch of the immediate past administration.

    It is welcome news that, from a record low of 900,000 barrels per day at some point, production has been ramped up to about 1.3 million barrels per day in the current Tinubu era.

    Also, it is a timely relief that private sector involvement in managing the security function for the oil and gas assets is credited with the success story.

    There is also the comforting news that the bill to make it mandatory that our country’s oil and gas assets are protected by private security outfits, as it is practiced all over the world, has attained an advanced level of debate in the legislative chambers.

    The passage of the bill into law would make it statutory and validate the current reliance on Tantita Security for the job that has curbed the menace of crude oil theft that poses a huge threat to the nation’s ability to earn foreign exchange to support its budgeoning population, bogus bureaucracy, and unbridled taste for foreign-made goods and services.

    It is trite to state that Nigerians need to wean themselves of their acquired taste for foreign goods and services, which is putting pressure on the naira. The CBN governor, Cardoso, alluded to that, and one has written consistently about the need for Nigerians to produce what they consume and only consume what they produce to conserve foreign exchange and even earn some, as we may soon be experiencing when the Dangote refinery for crude oil fully comes on stream.

    In the agriculture and food security spheres, perhaps former President Obasanjo’s Operation Feed the Nation (OFN) initiative during his reign as military head of state from 1976 to 1979 needs to be reinacted or revisited to boost food security.But to make Nigerians go back to the land to till it, the insecurity currently stalking  farmers in the hinterland has to be eliminated.

    Without a doubt, the most viable way to do so is the decentralization of the Nigerian Police Force (NPF), which should be complemented by the massive recruitment of Nigerians into the security forces, particularly the police force, which is underfunded and poorly resourced, with less than 400,000 officers and men manning a country that has a population in excess of 200 million.

    That urgent need for state, community, or decentralized police force is a subject for another intervention at another date. For now, President Tinubu should make haste to conclude his timeline and robust plans to reestablish forest police (formerly known as forest guards), solid minerals police, and blue economy (marine) police, which he recently enunciated.

    The urgency for adequate policing is palpable as bandits and outlaws appear to be in the process of overwhelming our security forces as they have been brazenly kidnapping without mich resistance,people in the Federal Capital City, the seat of political power, and taking traditional rulers hostage and even killing them, as recently witnessed in Ekiti State.

    Additionally, fiscal measures must be introduced and seen to be implemented or practiced by government aficionados to avoid creating the impression of ‘monkey dey work, baboon dey chop’ in the minds of the masses currently mired in misery, who may deem profligacy by leaders in the corridors of power as exploitative and trigger mass protests. Cutting down on the number of people in the official entourage of public office holders as recently announced by President Tinubu is a good starting point. But there needs to be more policies to eliminate imprudence in the management of our common wealth.

    One is not unaware of the wisecrack “it is easier said than done,” which reiterates the fact that it is never easy to implement robust policies that may not be perceived to be people-friendly at the initial stages.

    But one can find solace in the fact that, with persistence and a strong sense of purpose driven by altruism, a leader would regain the confidence of his followers and motivate them to key into his agenda of growth and prosperity for the people, as Franklin Delano Roosevelt did for the good people of the United States of America, USA, when he pulled that country out of the Great Depression in the mid-1930s following the World War.

    By the same token, President Tinubu may become a hero to Nigerians like Franklin D. Roosevelt is to Americans, if he pulls our beloved country out of the economic doldrums in which it is currently stuck by applying the Ngozi Okonjo-lweala economic management matrix as part of the calculus in his Renewed Hope agenda.

    Magnus Onyibe,an entrepreneur,public policy analyst, author,democracy advocate,development strategist,alumnus of Fletcher School of Law and Diplomacy at Tufts University, Massachusetts, USA, and a former commissioner in Delta State government, sent this piece from Lagos, Nigeria. To continue with this conversation and more, please visit www.magnum.ng.

  • Guard your bank accounts; Nefarious ambassadors are on the prowl – By Magnus Onyibe

    Guard your bank accounts; Nefarious ambassadors are on the prowl – By Magnus Onyibe

    These are perilous times in Nigeria, as reflected by the fact that it is not only our lives and properties that are in danger, as evidenced by the mass killings in Plateau State on Christmas Eve last year and the kidnapping and murdering of innocent Nigerians that failed to pay ransom money imposed on them in and around Abuja, the federal capital territory, FCT, and those who recently abducted and killed two (2) monarchs in Ekiti state, but there is another dimension of hurting, if not ruining, the lives of Nigerians.

    While we are all well aware that a significant number of Nigerians are being attacked and destroyed by outlaws in the form of bandits and marauders of all dimensions, including kidnappers for ransom and ritualists that have turned our country into a killing field, another emerging act of criminality not as widely known or discussed in public spaces like the violent acts of crime of killings, especially in the Middle Belt, and kidnapping around in the country is that our bank accounts are also being targeted and our funds domiciled in them are being stolen by another type of outlaws.

    These elements are not wielding guns like the bandits wreaking havoc on lives and properties across the country and lately Abuja the seat of political power , but they are the nefarious ambassadors leveraging the pen and technology to invade our bank accounts with a view to emptying them into their own pockets.

    Let us take the nasty experience of Senator Tokunbo Afikuyomi, a one-time major ally of President Bola Tinubu, as a sample.

    In a recent social media post,the former senator representing Lagos State narrated his ordeal. Here we go:

    “Yesterday morning (January 13), some scammers hacked my phone line and temporarily seized control of my WhatsApp messages. They then sent fraudulent messages to some of my contacts requesting that they transfer some money on my behalf.”

    The financial scam victim further lamented that “many of my friends quickly called me up on the regular phone while some others spoke with my aides to alert me. However, unfortunately, a few others did not suspect that anything was wrong. They innocently complied with the fake request and made transfers of millions of naira to the various account numbers in different banks supplied by the scammers.”

    According to the erstwhile Lagos State Senator, he successfully obtained the telephone numbers that the fraudsters used in perpetrating the crime of deceiving unsuspecting members of the public to pay huge sums of money into multiple bank accounts amounting to millions of naira purportedly belonging to the victim, Senator Tokunbo Afikuyomi.

    He added that he immediately complained to the relevant security and financial sector regulatory agencies and thanked the anti-fraud unit of the police for springing into action immediately, resulting in the identification of some of the account numbers and the details of the respective owners through which the scammers collected various sums of money. The security agents also applied technology to geo-locate the perpetrators, signaling strenuous efforts to route the economic and financial terrorists.

    While commending the security architecture for their successful effots at tracking and locating the bank accounts used to perpetuate the heist, Senator Afikuyomi expressed disappointment in the banks for their lack of due diligence by not applying the universal policy ‘Know Your Customer’, KYC, which financial institutions leverage to know their customers,hence multiple bank accounts are opened by crooks whose real identities are unknown by the banks as they should. That is why it has been difficult to rein in the scammers who are hacking into the banking systems, gaining access to and emptying victims accounts and by so doing, wrecking the lives of millions of our compatriots.
    As we are very well aware,people are known to have committed suicide after losing their lives savings to scammers.

    Clearly, the scammers are able to open so many bank accounts without supplying the banks with the necessary security checks and details required by the law because some banks are not complying with the rules governing banking owing to lax supervision by the regulatory agency, the Central Bank of Nigeria (CBN.

    By the same token, some of the over-the-top media services (OTT) providers (GSM firms) are not fully complying with the provisions of Nigeria’s Data Privacy and Protection Laws, and the NCC rules for SIM card registration are also being flouted.

    Apart from the method applied to scamming Afikuyomi, there are other methods being applied to reaping off unsuspecting members of the public.

    They do that by cajoling hapless people and enticing them with fake but fantastic business opportunities, luring them to secret and private locations , and then killing them after dispossessing them of valuables, including title documents for landed properties and cash in bank accounts.

    Such was the case of the billionaire Ignatious Odunukwe, who was lured on the phone into a fake business venture of selling his terrace building and adjoining land in Abuja for N900 million by a syndicate who killed him in a hotel room where he went to meet with them, and his body was disposed of near a canal in Ajah area of Lagos a couple of years ago .

    Meanwhile, it is to fortify the types of crime highlighted above that the concepts of national identification numbers (NIN) and bank verification numbers (BVN) were introduced by both the telecommunications and financial services systems.
    But in light of the ease with which these crimes of emptying the bank accounts of unwary and hapless Nigerians are being perpetrated,the measures that have been put in place do not seem to be sufficient protection for Nigerians against those hell bent on wrecking the lives of fellow Nigerians by stealing their life savings in their bank accounts.

    Psychologists drill down the spike in blue collar crimes being perpetrated with pen and technology and violent crimes being carried out with guns to the high tide of hardship in the land occasioned by the new policy changes being introduced by the incumbent administration to put the country on the path of

    Growth for the economy and prosperity for the masses

    As such, they aver that there is no difference between those committing the financial crimes of hacking into bank accounts of those whose deposits are being raided and the outlaws such as bandits, kidnappers, terrorists, and other marauders tormenting Nigerians by demanding ransom from them and threatening to kill them if they do not pay demanded ransom and truly killing them individually and in multiples across our country on a regular basis, to the extent that it has become a sort of epidemic like ebola disease or lassa fever.

    About a decade ago, internet/financial scams perpetrated via technology and telephone were perpetrated by Nigerians against foreigners, and the notorious crime was known by the moniker ‘Yahoo, Yahoo’ or 419, which is the number by which it is coded in the criminal justice law.
    But today, the bank accounts of Nigerians are being targeted by the same fraudsters, reflecting a paradigm shift in criminality from international targets to local targets.

    In other words, there seems to be a deliberate targeting of Nigerians at home and in the diaspora by Nigerian scammers, who perhaps are currently being resisted by foreigners like Europeans and North and South Americans who have been their victims over the past several decades and have most probably learned to detect them from afar and fend them off.

    To stem the tide, there are government functionaries such as the Minister of Telecommunications and Digital Economy, Dr. Tijani Bosun, Interior, Mr. Olubunmi Tunji-Ojo, National Security Adviser, NSA Mallam Nuhu Ribadu, Inspector General of Police, Mr. Kayode Egbetokun, Director General of the National Financial Intelligence Agency (NFIA), Mallam Modibo Hamman Tukur, and the Governor of the Central Bank of Nigeria (CBN), Mr. Olayemi Cardoso, whose jobs have been cut out to protect Nigerians from the menace of the scammers wreaking havoc on the unsuspecting masses with damages that are as devastating as the heinous crimes of the bandits resulting in the lives of so many precious souls in the past few months.

    These government officials need to step up their efforts in order to be ahead of the criminal elements currently running rings around the financial services and telecommunications sectors.

    Perhaps the type of riot act that Olayemi Cardoso recently read out to the Money Deposit Banks, DMBs, with respect to compelling them into offloading their foreign exchange holdings beyond the 20% threshold mandated by Banking and Other Financial Institutions, BOFIA rules, should be reinacted for the KYC aspect of banking.

    The other government agencies under whose purview falls the responsibility of protecting Nigerian bank account holders from being fleeced by the vicious scammers currently on the prowl around the country should emulate the CBN under Mr. Cardoso, whose enforcement of the rules governing banking has resulted in the release in to the market of the foreign exchange previously held in bank vaults, leading to the availability of the foreign currencies in the market and strengthening of the naira.

    Also, the police in particular needs to become more engaging by embracing technology like drones and cameras located strategically in crime hot spots like banks and ATM locations to fish out the scammers or deter them.

    Recently, the Nigerian police force, NPF, entered into a strategic partnership with the International Narcotics and Law Enforcement Affairs (INL) of the United States of America for a specialized tactical operational training program for commanders of the recently launched Special Intervention Squad (SIS).

    I would like to propose that similar training be initiated for combating technology driven crimes involving telephone and bank accounts, of which a majority of Nigerians have fallen victim lately.

    Clearly, Nigerians deserve better, as the unbridled rise of technology-driven crime is an indication of the perilous times that we live in when the technology that was invented to make life easy for all of us has also become a source of endangering our lives and properties.

    On its part,the banks have been receiving flaks based on the suspicion by members of the public that financial institutions are complicit in the crime.

    So, they too need to step up to the plate by strictly applying the KYC rules to help stem the tide of financial crimes being perpetrated through the use of technology to deceive bank account holders to bilk them of their hard-earned financial resources.

    Its role in supporting the mases during COVID-19 with legislatives currated by the CBN under the watch of the immediate past governor, Mr. Godwin Emefiele, CA-COVID helped in shoring up the image of banks, which was sagging owing to an outcry by the public against multiple charges obtained from their accounts and manifesting as unwholesome debit alerts received in their smart phones over various activities rendered that customers expected to be complimentary.

    Since banks do not want to go back to such dark days, it is incumbent on them to join in routing the criminal enterprise of hacking the bank accounts of unsuspecting members of the public , not only by complying with KYC rules and cautionary messages sent to their emails, but also by enlightening innocent bank account holders of the antics of the criminal elements via information to be disseminated through mass communication channels like radio and television jingles to the masses.

    That way, they would regain the confidence of the beleaguered Nigerian masses, who are currently being crushed by both violent bandits who are trading in human lives as merchants reminiscent of the ignoble slave trade era and fraudsters raiding bank accounts of fellow Nigerians and wrecking the lives of their victims.

    Magnus Onyibe,an entrepreneur,public policy analyst, author,democracy advocate,development strategist,alumnus of Fletcher School of Law and Diplomacy at Tufts University, Massachusetts, USA, and a former commissioner in the Delta State government, sent this piece from Lagos, Nigeria.
    To continue with this conversation and more, please visit www.magnum.ng.

  • Anatomy of a fall: BettaGate as case study – By Magnus Onyibe

    Anatomy of a fall: BettaGate as case study – By Magnus Onyibe

    The Communpance Of Sadiya Umar-Farouq,former minister of Humanitarian Affairs and Poverty Alleviation,Halima Shehu ,national coordinator of National Social Insurance Program Agency, NSIPA and Betta Edu, who succeeded Farouq as minister, but currently suspended,is common knowledge to all Nigerians. The fall of the aforementioned ‘princesses in the kingdom of politics ’ from Olympian heights has been trending on both social and traditional media platforms, so much so that it is difficult to all on planet earth and located in Nigeria not to have heard of the sleaze.

    The buzz about the graft that they allegedly committed has been on such high decibel and so defeafening, that even the deaf and dumb who must have been watching television stations with sign language translations are by now aware of the financial scandals that have bedecked the three women, not like ornaments such as gold trinkets ,but they are festooned with warts and moths symbolizing corruption of epic proportion in government which they are being accused of perpetrating.

    It is rather astonishing how the three (3) erstwhile powerful and ravishingly beautiful women, two of them former ministers and the third a chief executive officer of a critical department of government have become reminders of Helen of Troy in Greek mythology.

    According to legend,Helen of Troy’s mother is the goddess Nemesis,who is the personification of retribution.

    So, it is such an irony of life that these women strutted the corridors of power in Nigeria’s capital Abuja,from 2015 to 2023 until they got linked together by alleged acts of corruption resulting in their stunning fall from Olympian heights in the political firmaments into the  abyss of scorn in which they are currently wallowing.

    The common thread linking the threesome is that they all at one point or the other since 2015 led the ministry of humanitarian affairs and poverty alleviation which in all shapes and forms is like modern day Petroleum Trust Fund, PTF which was a sort of treasure trove established during the watch of late General Sani Abacha as head of state of Nigeria 1993-1998.

    By way of recollection,the PTF, which was a government intervention agency receiving a portion of income from crude oil sales after petrol pump price, was increased. It was so awash with cash that it became a sort of bazaar for quick fortune seekers to make fast money.

    In fact, apart from the regular PTF, there was also Army PTF that catered to the interests of the military. In that branch of PTF, accountability or prudence in expenditure was not on the agenda.

    The image of that intervention agency was so sordid that if someone was seen to be spending money lavishly, the question would not be that he/she was throwing money around like a drunken sailor which was a popular cliche at that time.

    But due to the substantial quantum of funds domiciled in the PTF, and it was a norm to waste public funds,when observing someone who was spending money recklessly, the immediate assumption was that he/she was associated with the PTF or its contractors.

    In fact,the PTF became a metaphor for extravagant use of public funds.

    This negative perspective of the PTF is how Nigerians currently perceive the Ministry of Humanitarian Affairs and Poverty Alleviation, established by the immediate past President of Nigeria, Muhammadu Buhari, during his tenure from 2015-2023. Interestingly, our immediate past president, then Gen. Buhari rtd had served as the pioneer chairman of PTF, founded by Gen. Sani Abacha, during his military reign from 1993 to 1998.

    Pivoting back to the instant issue of BettaGate being scrutinized in this piece , the narrative of how the Ministry of Humanitarian Affairs became flushed with funds is very remarkable.

    To provide a concise overview, let me present it in a capsule form.

    In October of the previous year, after the incumbent administration took charge of Aso Rock Villa, the Federal Executive Council (FEC) sanctioned the establishment of the Humanitarian and Poverty Alleviation Trust Fund with the goal of raising $5 billion annually and that was a big deal.

    This information was shared by the then minister, Dr. Betta Edu in a press conference.

    “Every year we hope to be able to raise at least 5 billion dollars within this fund and this is from the various funds and sources.We are hopeful that with the creation of this funding,we can sit down with all the key stakeholders including other ministries and actually work out the full modalities of implementation in Nigeria.”

    The minister had further given an explanation on how the funds would be applied in alleviating poverty:

    “This will also respond to challenges as well as adequately address the issue of poverty in Nigeria and bring victory for the poor and indeed, bring help and succor which the Renewed Hope Agenda stands for”.

    But given the alleged reckless spending of funds within the ministry as evidenced by the current scandal, Nigerians are getting a raw deal as the minister appears to have resorted to using mere disguises and rhetorics to deceive both the political leadership and the masses into thinking that the critical mass of long suffering Nigerians were about to be pulled out of poverty by the ministry designated for the purpose and task .

    In the current 2024 national budget, of nearly N29 trillion that has been appropriated , it is astounding that a staggering sum in excess of five hundred billion had been earmarked for the Ministry of Humanitarian Affairs and Poverty Alleviation. But the minister , Dr Betta Edu, before she was suspended, had stormed the National Assembly, NASS to contend that the sum allocated to the ministry, which is in excess of half a trillion naira was not enough.

    But she did not have her way in securing an increase that she desired.

    However,what is outstounding and very concerning to me is the absence of skilled fund managers to lead a ministry flush with so much funds.

    That is precisely why, in my evaluation, the Ministry of Humanitarian Affairs and Poverty Alleviation was a disaster waiting to happen. This conclusion stems from the decision to entrust such a strategically important ministry envisioned to have a high impact on the critical mass of Nigerians on novices. Ordinarily, a lot diligence should have been invested via critical thinking in the choice of the capacity and ability of who mans such a critical institution .

    The mistake was made from the beginning, possibly due to the perception of the ministry as ‘ a job for the boys’ rather than a crucial vehicle for achieving the ambitious goal of lifting 10 million Nigerians out of poverty into prosperity, as touted by the predecessor and incumbent administrations.

    It is trite to state at this juncture that managing a ministry with such a significant mandate demands an individual with the right expertise, possessing relevant experience in socioeconomic development, and strong funds management skills.

    In light of the above, we must question why a nation currently grappling with socioeconomic challenges as the economy is in dire straits would assign a ministry of critical relevance to achieving President Tinubu’s Renewed Hope Agenda, (crucial to his future electoral success) to an individuals lacking expertise in development finance and socioeconomic engineering.

    While it remains perplexing to most Nigerians how a feckless individual like Sadiya Farouq was handed the job , during Buhari’s regime,and she claimed to have spent millions of naira feeding schoolchildren even when they were at home due to COVID-19 restrictions, it was not surprising to me that her tenure has been characterized by corruption scandals.

    It had been alleged that she  spent N13.5 billion monthly feeding school children during covid lockdown when kids were not in school. But by her own admission, she has stated that she only spent about N523 million on the initiative when the kids were supposed to be at home with their parents.

    Under the current dispensation, I am also not alarmed by the revelation that Halima Shehu , CEO of NSIPA who shuffled N44 billion between multiple private bank accounts as being alleged. When the crime was discovered, she reportedly claimed it was done in error.

    Similarly, I am not astonished by the fact that Betta Edu, after purportedly disbursing N3,000,000,000.00 (Three Billion Naira) for the verification of data on the poorest of the poor nationwide, previously acquired by the immediate past administration, attempted to transfer N585 million meant for the poor in some states into the account of an individual said to be the project accountant.

    This is in contravention of chapter 7, section 713 of  Nigeria’s financial regulations in the public sector that demands that under no circumstances should public funds be placed in private bank accounts. Ideally, the conditional cash transfer money must be directly transferred into the pockets of the hoi polloi that it was meant to help them stave off starvation.

    Had the plug not been pulled on the current minister, given her penchant for revelry as being portrayed in several viral social media videos, she could have enjoyed‘dirty’ December with money that belongs to the poorest of the poor in society.

    Meanwhile, the long-suffering and downtrodden masses that she was supposed to look after, based on her mandate and as professed in her memos to the Executive Council, must have been pinning away in penury during the yuletide.

    That is why it is a sort of poetic justice that the usual dirty fight between women, this time between the minister and the CEO of NSIPA,an agency under the purview of the minister, has opened to the public the Pandora’s box of financial malfeasance that defines the Humanitarian Affairs and Poverty Alleviation ministry.

    At this juncture, it is appropriate to point out that I am comparing the financial malfeasance in the Humanitarian Affairs and Poverty Alleviation ministry to what occurred in the PTF in the days of Abacha as head of state and then Gen. Buhari as the chairman.As development economists would attest, in classical, or textbook cases, intervention funds are associated with improprieties because disbursements are done in an unstructured manner .

    This is validated by the financial recklessness associated with other intervention agencies where huge sums of public funds are inflowed and they have failed to achieve their set objectives , such as OMPADEC and NDDC, which fall into the same category as the Ministry of Humanitarian Affairs and Poverty Alleviation, as well as the PTF.

    Were prudence to have been a guiding principle of government at the time the aforementioned poverty intervention agencies were founded, some of the calamitous fall outs from the Ministry, Departments and Agencies, MDAs could have been avoided.

    For instance, when the Nigerian Sovereign Investment Agency (NSIA) was being set up by the former minister of finance and Coordinating Minister of the Economy, Dr. Ngozi Okonjo-Iweala, who currently serves as the Director-General of the World Trade Organization, WTO ,a funds management expert, Mr. Uche Orji was headhunted from one of the best financial institutions in the world to lead the multi-billion-dollar agency. This was done to ensure it ran in a manner devoid of civil service bureaucracy.

    Before leading the NSIA, Mr. Orji had worked in various organizations, including UBS Securities, New York, where he was a Managing Director and Global Coordinator of Semiconductor Equities Research; JP Morgan Securities, London, where he was a Vice President and later Managing Director within the Equities Division and Analyst in charge of European Semiconductor Equities Research; and Goldman Sachs Asset Management, where he was an Executive Director serving as Analyst/Portfolio Manager covering the chemicals and telecommunications equipment sectors. So, he came to the job loaded with experience.

    Several years have passed with the pioneer CEO being at the helm of affairs and his tenure has thereafter expired, and a new helmsman has taken charge. Unsurprisingly and unlike similar intervention agencies, there is no sleaze of any sort emanating from the agency, and the mandate is being successfully delivered.

    Mr. Aminu Umar-Sadiq,Uche Orji’s successor, holds Bachelor’s and Master’s degrees in Engineering Sciences from the University of Oxford. He also boasts significant experience in the financial services sector, covering Public Finance Management, mergers & Acquisitions, private equity, and asset management.

    It was imperative that such a critical agency endowed with huge public funds be entrusted to experienced individuals in NSIA. Therefore, the persons chosen to lead this agency underwent rigorous selection processes to ensure that only the best took on this onerous responsibility.

    Was a similar tough measure followed when founding the ministry of humanitarian affairs and poverty alleviation entrusted with a half a billion naira annual budgetary allocation and $5 billion annual endowment fund?

    The plain answer is no.

    What many Nigerians, and perhaps even those in leadership may not realize is that the Ministry of Humanitarian Affairs and Poverty Alleviation is as critical to the success of the government as the Ministries of Finance and Health. As an astute leader with both private and public sector experience,President Tinubu handpicked experts like Mr. Wale Edun, a seasoned investment banker, as the minister of finance and Coordinating Minister of the Economy, and Dr. Ali Pate, with a pedigree from the Gavi foundation and the World Health Organization (WHO), as the minister of health and coordinating minister of humanitarian affairs.

    This approach differs from merely selecting random individuals to serve as ministers in the Ministry of Humanitarian Affairs and Poverty Alleviation, as was done during the tenure of the immediate past administration and a position that had been adopted by the current one until the BettaGate scandal unraveled the imprudence in such a decision .The present crisis, in my view, was avoidable and is thus self-inflicted.

    Perhaps in recognition of this unforced error, President Tinubu seems poised to correct it, by aiming to change the negative perception of the poverty intervention behemoth. Hence, he has taken the first step by suspending the minister and CEO of the agencies under the ministry’s supervision, which appears too unwieldy and highly unmanageable under a single umbrella.

    Clearly, this move aligns with Mr. President’s commitment to good governance as he seems to be seizing the opportunity to refocus the ministry for effective and efficient service delivery, as conveyed by his spokesperson, Chief Ajuri Ngelali, who has released a media statement stating that President Tinubu has directed the Chairman of the Economic and Financial Crimes Commission to:

    “conduct a thorough investigation into all aspects of the financial transactions involving the Federal Ministry of Humanitarian Affairs and Poverty Alleviation, as well as one or more agencies thereunder.”

    In pursuit of the goal of repositioning his administration as one that takes probity seriously , the President has subsequently established an inter-ministerial committee led by Mr. Wale Edun, the Coordinating Minister of the Economy with Dr. Ali Pate, the Coordinating Minister of Health as a member of the six (6) high ranking members of his government to conduct a comprehensive diagnoses on the financial architecture and framework of the social investment programs of the administration .

    The goal is to reform the relevant institutions and programs to eliminate all institutional frailties so that it would be exclusively benefiting the disadvantaged households in the nation and thus regain lost public confidence in the initiative.

    At the conclusion of this exercise, my minimal expectation is that the ministry will have a well-defined structure with a Standard Operating Procedure (SOP), even as it would possibly be unbundled for enhanced service delivery.

    Following the exposure of the scandal in the poverty intervention agency , various political leaders have expressed their opinions on what might have gone wrong and the potential culpability and kack thereoff of Dr. Betta Edu and her associates. From the optics of Mr. Femi Pedro, a former bank Managing Director and Deputy Governor of Lagos State, the perfidy is attributable to unintentional error or lapse due to inexperience. So justice should be tampered with mercy.

    On the other hand, Mr. Babatunde Raji Fashola, the ex-governor of Lagos State and immediate past Minister of Works, has posited that the issue is being exaggerated and the minister is unnecessarily being put through media trial , while Governor Hope Uzodinma of Imo State has urged Nigerians not to rush to judgment since they do not have all the facts, citing presumption of innocence.

    These diverse opinions, viewed by some as driven by selfish agendas, have been rejected by the masses who are commending President Tinubu for holding those entrusted with public funds accountable  through the ongoing probe. Little wonder the anger against the perfidious trio persists.

    Fortunately, this otherwise negative situation has given President Tinubu’s government a boost, owing to the decisions he has so far taken on the matter. If a poll were to be conducted, it would possibly be marking his highest approval rating in the past seven months since his assumption of the office of the president on May 29 last year. Whether President Tinubu will continue to ride this wave of popularity by earning more accolades through measures such as reducing cost of governance  policies like the cut on the number of officials on entourage of top government officials on  trips that he had announced last week, remains to be seen.

    However , one thing that is clear is that both policy actions – probing corrupt ministers and cutting cost of governance – have received praise from one of his staunchest critics, Mr. Peter Obi, the 2023 presidential candidate of the Labor Party, LP who is an idol for the Gen-Z and netizens attempting to politically constrain President Tinubu. Despite the efforts of the ‘Never Tinubu’ gang or OBIDIENTS, President Tinubu has consistently eluded their snares and mesmerized them politically.

    Considering that President Tinubu has long been celebrated as a master tactician and ace strategist in politics, he has not failed to be attentive to Nigerians who were enraged by the revelation that an estimated 400 people traveled with him to Dubai, United Arab Emirates (UAE), to attend COP28 at the government’s expense during these lean times.

    That is why, in response to their criticism, he directed that such large contingents accompanying public officials to events perceived as jamborees by Nigerians should be reduced in the future.

    It would not be surprising if he also trimmed down the vehicle convoys of public officials, which is another point of irritation for Nigerians. This may involve reducing the number of vehicles allocated to heads of ministries, departments, and agencies (MDAs) very soon.

    Also , the value for money in public contract administration may receive attention, possibly as a recommendation from the committee restructuring the humanitarian affairs ministry. In this regard, President Tinubu might strengthen the existing Due Process Office under the presidency, urging it to take its mandate more seriously.

    Once implemented, the masses may no longer resent the government when they believe that their common wealth is no longer being spent without due process or prudence, as seen in contracts like school feeding under Sadiya Farouq’s supervision where as much as N37 billion is believed to have been squandered and the N3 billion contracts for verifying the number of the poorest of the poor acquired during the previous administration , awarded by Betta Edu to some firms that her critics have tagged as phantom as well as Halima Shehu moving to different private bank accounts a whopping N44b earmarked for the work on poverty alleviation.

    For the leaders of other branches of government, such as the judiciary and especially the legislative arm led by distinguished Senator Godswill Akpabio and Hon. Speaker Abbas Tajudeen of the House of Representatives, adopting President Tinubu’s approach to cutting the cost of governance, could earn the government public approval.

    Already,the legislative branch, after facing public criticism, particularly for purchasing expensive foreign-made Sub Urban Vehicles (SUVs) at the cost of N130m each, needs to align with the executive’s efforts to restore public confidence.

    While the executive is gradually gaining public trust through President Tinubu’s recent charm offensive including halving the cost of public transport during the yultide , and the judiciary is regaining its lost reputation as the last hope of the common man, as evidenced by a recent Supreme Court judgment that was applauded by the masses, but the legislative branch has yet to take decisive actions to win the hearts and minds of the masses through positive gestures that would erase the angst triggered by the ‘let the  poor breathe’ a remark by the senate president deemed as snide by some members of the public.

    In light of the above it is essential for the legislative arm to follow President Tinubu’s lead in making strides to address public concerns, as this could pave the way for the government’s return to office in 2027.

    In any case, the success of these current positive steps so far taken to reposition the administration-image wise depends on the extent to which the anti-graft agency (EFCC) and the ministerial committee, established to reposition the Ministry of Humanitarian Affairs and Poverty Alleviation, are willing to go and the depth of their discoveries.

     

    Magnus Onyibe,an entrepreneur,public policy analyst ,author,democracy advocate,development strategist,alumnus of Fletcher School of Law and Diplomacy,Tufts University, Massachusetts,USA and a former commissioner in Delta state government, sent this piece from Lagos, Nigeria.

    To continue with this conversation and more ,please visit www.magnum.ng

  • Is Nigerian police courting another youth resistance like #EndSars? – By Magnus Onyibe

    Is Nigerian police courting another youth resistance like #EndSars? – By Magnus Onyibe

    While Nigerians are expressing concern about perceived corruption in the system which president Bola Tinubu is trying to address by suspending Mrs Halima Shehu as Chief Executive Officer, CEO of National Social Insurance Program Agency,NSIPA for alleged missappropriations /embezzlement of nearly N40 billion and Dr Betta Edu, the new Minister of Humanitarian and Poverty Alleviation who had also been fingered for a fraud of about N585 million and for which an investigation has been instituted and she has been similarly suspended from office pending the conclusion of investigations.

    As all the sordid events are unfurling during this new political season, the issue of corruption at petty level amongst civil servants and particularly within the police force, where officers are notorious for extorting the public, also seems to be resurfacing.

    This is evident in the increasing number of distressing stories and complaints from Nigerian motorists who have encountered police officers forcing them to part with significant amounts of money. This problem appears to be reaching epidemic proportions, particularly in Lagos and environs.

    Motorists are reportedly being extorted by the police for various offenses, including driving without a valid driver’s license and violating traffic rules.

    Failure to possess a fire extinguisher or caution sign for instance can also lead to significant penalties imposed by the police, typically in the form of monetary fines which go into the pockets of the officers instead of the coffers of government. To elaborate, the nefarious policemen/women often threaten to impound the vehicle and transport it to their station, where fines as high as N500k may be imposed .

    When victims are unable to pay such substantial amounts in cash, the rogue police operatives have Point of Sale (P.O.S.) operators readily available to facilitate fund transfers, after coercing or bullying the victims into complying with the demanded payments.

    I was with a friend when his niece ,a victim shared her experience of being defrauded of N30,000. She was coerced into transferring the money via an ATM provided by a man lurking in the shadows at a police check point one early evening in Lekki phase 1, lagos . The incident occurred when she was arrested for driving with an expired driver’s license. It did not matter that the license had just expired and she was a first time offender.

    Upon learning that the penalty for driving with an expired license was N70,000, she was advised to pay N50,000 to avoid further inconvenience. Unfortunately, she didn’t have that amount with her. The police officer then suggested using a Point of Sale (P.O.S.) machine, which was available at the scene.

    Feeling uneasy about being on the road at night and mistrustful of the policemen who should be ensuring her safety but were, in fact, extorting her, she had no choice but to negotiate and settle for N30,000 with these bad eggs giving the police force a bad name .

    The victim later expressed deep sadness, revealing that the most distressing aspect of her ordeal was the apparent age of the police officer who apprehended her, as he seemed older than her own father.

    Reflecting on this experience, one can’t help but question the future of our country. If an individual of such advanced age displays such cruelty and dishonesty, it raises concerns about the values being passed on to the next generation of police officers. What kind of future can we expect if unpatriotic attitudes, bribery, and corruption mentalities persist within our law enforcement?

    A visit to numerous police stations and posts across the nation highlights the widespread suffering endured by many Nigerians. That is derived from the fact that members of the police force have devised deceitful schemes to extort money from vulnerable members of society, further deepening the anguish felt by citizens.

    A motorist had his car impounded and was fined N1 million  for allegedly driving on a one-way road. Surprisingly, the fine wasn’t deposited into official police coffers. Instead, it was paid through a P.O.S into the account of a standing-by agent.

    I became aware of this extortion when the victim who is a relative sought financial assistance from me to retrieve his impounded car. The incident occurred due to what seemed like a frivolous excuse provided by the police.

    For about a decade ,the route from Mile 2 to Apapa Lagos has been consistently obstructed by heavy trucks queuing to transport cargo from the sea ports in Apapa. As a result, drivers have been forced to use the opposite lane intended for traffic from the other direction.

    However in December, unscrupulous policemen aggressively targeted this road to seize vehicles traveling in the wrong direction. This would not have been particularly alarming if it were not for the fact that the N1m fine was deposited into a private account of an  individual colluding with the corrupt police officer/officers to bilk vulnerable motorists.

    What raised concerns was not only the arbitrary fine but also the fact that it was deposited into a private account belonging to an individual colluding with the rogue police officer or officers involved.

    According to him, he received official receipt for only N200k, even though he paid N1m to rescue his vehicle, which he informed me he got information was about to be auctioned.

    Even worse is the allegation that the policemen/women often sold same to themselves. These are serious allegations that should compel the IGP to look into the matter which has serious implications with respect to extant rules of public service.

    The victim also shared additional distressing experiences, explaining that while attempting to reclaim his impounded car from the police, he encountered another man. This individual had faced a similar situation, with his car being held for about six months for comparable reasons. However, he couldn’t afford the substantial “ransom” demanded .

    The victim, unable to gather the necessary funds for the release of his vehicle, which serves as his sole source of income and is equivalent to a family heirloom, has since endured significant economic hardships along with his family while running helter sketer for helper which he eventually found in a ‘big man’ in Abuja. While these brutalities of the police have not been independently verified, as the saying goes , there is no smoke without fire. In other words the  stories may be hyperbolic, but there is no doubt that heinous crimes are being perpetrated by rogue elements of the NPF.

    As earlier stated, it is uncertain whether the road traffic offenses charged against the mentioned victims are genuine or fabricated, but the situation is reminiscent of the issues faced by victims of the Special Anti-Robbery Squad (SARS), a notorious unit within the Nigerian Police known for its extensive history of abusing the rights of Nigerian citizens.

    Although the Special Anti-Robbery Squad (SARS) has been disbanded, and this followed the regrettable and avoidable civil disobedience and resistance against the excessive actions of that police unit; it was a situation that escalated into riots and various other forms of public disturbances as criminal elements took control, leading to the tragic deaths of many youths.

    Allegedly, the army opened fire on them at the Lekki toll gate, causing catastrophic consequences.

    Sadly, it appears as if that nefarious tactics have been adopted and ingrained even within the traditional police department, hence the crime of extortion is about to attain an epidemic proportion unless drastic mitigating measures are taken .

    The extortion of our youth and motorists by the police force persists without respite as evidenced by the fact that daily we are bombarded with stories of encounters where these youngsters are apprehended and coerced by police into withdrawing money at gunpoint, often at ATMs.

    In some instances, those who resist are initially brought to the police station, where they are intimidated by feigned criminal charges against them that are frequently baseless. Following the psychological torment and coercion during their detention, they are returned to the ATMs and pressured into transferring funds into specified accounts controlled by unscrupulous policemen.

    Countless young Nigerians, who remain constant targets of sophisticated “robberies” by criminal elements within the police force, share similar harrowing stories of daily extortion. As earlier noted, this situation echoes the events that led to the infamous #EndSARS movement, leaving behind a trail of sorrow, tears, and blood.

    It is a grim reality reminiscent of the late music maestro, Afrobeat king, Fela Ransome Kuti’s iconic song “Sorrow, Tears, and Blood,” which highlighted the police force’s trademark of cruel practices in the 1980s.

    My concern about the unfolding development of negative sentiments about law enforcement personnel, particularly the police force forces revolves around the growing frustration among the youth. In this piece, I aim to highlight the imminent danger and draw the attention of authorities to the growing discontentment . The goal is to prompt relevant agencies to address by nicking in the bud the potential youth insurrection, which is like a ticking time bomb.

    Apart from the Inspector General of Police (IGP), Mr Kayode Egbetokun, other key figures, such as the Director of State Security (DSS), Mr. Mohamed Bichi, and the Presidency, represented by the office in charge of project monitoring headed by Hajia Hadiza Bala Usman, should be attentive and take swift action to prevent a potential recurrence of the #EndSARS protests that significantly tarnished Nigeria’s image in 2020.

    The former Minister of Information, Alhaji Lai Mohammed, who had engaged in altercations with a correspondent of the international broadcaster CNN regarding whether the military used live ammunition to open fire on youths at the Lekki toll gate, leading to casualties, exacerbated the situation be engaging in needless arguments .

    This disagreement prompted the CNN correspondent, Nima El Bagir to employ geolocation technology, which revealed instances of shooting and killing at Lekki toll gate confirming CNN’s reporting . Consequently, this further harmed Nigeria’s reputation, attracting increased international criticism for a country already grappling with a reputational deficit.

    The current misery in the society is worse than the situation in 2020, which is owing to the fact that the nation is currently facing additional challenges amidst the existing difficulties caused by the withdrawal of subsidies on petrol and the revaluation of the naira. These changes, compelled by the ongoing reforms aimed at improving the country’s overall standard of living, is contributing to the current hardships, although the difficulties are expected to temporary as they have been likened to pains experienced by women during child birth which are initially hurtful , but it is often followed with rejoicing after the child is born.

    Nevertheless, the current rate of misery in the land is akin to sitting on a precarious tinderbox, further intensifying the challenges plaguing the nation, which is why it is crucial to identify and appropriately sanction the extortionists within the police force who exploit their uniform, badge, and firearms, provided by the government, to protect the public.

    Instead these unscrupulous elements are engaging in extortion under the guise of law enforcement, targeting the youth generation and hapless motorists.

    For the sake of emphasis, taking action against such misconduct is imperative to prevent a recurrence of events similar to #EndSARS debacle.

    Incidentally, I had a personal experience during the repairs of the 3rd Mainland Bridge in Lagos before the Yuletide . The access from the bridge leading to Herbert Macaulay Way in Yaba was temporarily closed. Consequently, I had to drive from Ikoyi through lddo and Oyingbo, known for their popular bus terminals serving various parts of Nigeria, to attend a church service in Yaba.

    On my way back from church, I encountered police officers near Ijora, where multiple bridges intersect. I noticed what seemed to be a makeshift police checkpoint. The personnel manning it appeared rag-tag, not wearing proper police uniforms, and unarmed with guns, but instead equipped with batons and long sticks, etc.

    So, I slowed down my car to observe them closely as they approached. Particularly, a woman with a big stick came towards my car, possibly to demand a bribe or extort me for imaginary fines that she might fabricate, even if I was fully compliant.

    Considering the stories I have heard about ‘rotten eggs’ amongst the men/women of the police force asking for  items like a spare tire, fire extinguisher, caution sign, etc in addition to all the necessary documents such as a driver’s license, road worthiness certificate, and insurance cover, I made a quick decision not to pull over completely .

    As is commonly understood on Nigerian roads, even the drivers who presented all the necessary documents were still intimidated to part with bribe money or get inconvenienced . Therefore, I chose not to become a victim. However, as I continued, I heard a loud bang on my car hood. The burly-looking policewoman had struck it with the large stick she was wielding and it made a dent.

    It was only thanks to my wife’s pleas and the grace of God that I refrained from stopping the car and confronting the disrespectful and troublesome police officer, whom are clearly the ‘nefarious ambassador’ of the police force.

    To put the incident into perspective, it is appropriate to recall a joke that revolves around a compliant motorist who, when stopped by a police officer attempting to extort money, informed them that the only extra passengers in his vehicle, besides his wife and three children, was God. In response, the police officer told the driver that he was under arrest for overloading, as having God as an extra passenger constituted overloading.

    This anecdote serves as an illustration of the perceived ruthlessness of the police and how poorly Nigerians regard them due to the vile activities of the rogue ones amongst them that need to be disposed off without further delay.

    The joke does not downplay the seriousness of the IGP’s imperative intervention to prevent the unsavory situation from escalating into another national crisis, rather it buttresses the case.

    Obviously, the Nigerian Police Force (NPF) is mandated by law to be accountable to the citizens and is obligated to uphold the rights of members of the public who are key stakeholders in any and every public institution funded by  tax payers. Nigerians also fully understand that as part of their civic responsibilities policemen/women also deserve to be accorded due respect and co-operation in the course of carrying out their duties.

    Consider the recent incident involving Seun Kuti, a musician and one of the sons of the late Afrobeat icon Fela Kuti. He faced charges from the police force for assaulting an officer during a dispute on the 3rd Mainland Bridge. The incident, in which he slapped the officer, gained widespread attention through a viral video.

    In response, Nigerians promptly criticized Mr. Kuti for his stubbornness and lack of respect towards a police officer who became a victim of his violent and disorderly conduct.

    As the legal process unfolded, although opinion was divided, but most members of the public took side with police force. After the fireworks in the court of law justice was delivered to the satisfaction of the public, who are the primary stakeholders in the Nigerian Police Force (NPF).

    What the police authorities seem not to understand is that the the NPF is analogous to entities such as the Nigerian National Petroleum Corporation, Ltd. (NNPCL) or the Nigerian Communications Commission (NCC), assuming these public corporations were listed on the Nigerian Stock Exchange (NGX) like Dangote Industries or any other publicly quoted companies, Nigerians would buy the shares and determine how the corporations are managed.

    In such a situation there would be need for them to manage their reputation as Dangote, Flour Mills of Nigeria, LeverBrothers, Lafarge,and other publicly quoted firms guard their reputation jealously to avoid errosion of value .

    When l was working in the Nigerian Television Authority, NTA about 3-4 decades ago, the IGP was Umaru Gambo Jimeta . The image of the police was battered as a fall out of the Anini- the infamous armed robber that defied police arrest saga. As it may be recalled then then military head of state Gen.Ibrahim Babangida had in the course of national security council meeting inquired from the IGP: where is Anini?

    It is was on national television so , the lGP was embarrassed.

    To clean up its sagging image attempts were made to recruit my then colleague on NewsLine magazine program and national news anchor ,Mr Patrick Oke as police image maker , but it did not materialize.

    The point being made is that at a point in time , the police force took its image seriously enough to want to hire a major news anchor from

    NTA, which was the only national television staton at that time to help burnish her image.

    In the recent past, there was another incident involving a female lawyer who was fatally shot by an intoxicated policeman on December 27, 2022. The undisciplined police officer involved was arrested, charged to court , and subsequently sentenced to death by a judge in a law court as punishment for the reckless behavior.

    The tragedy occurred when Mrs Omobolanle Raheem, the victim, was heading home after a Christmas Day service when a police officer fired at her family’s vehicle at a checkpoint in Ajah. This horrific  incident resulted in the loss of her life and the life of the unborn child that she was carrying .

    These unfortunate events occurred prior to the tenure of the current Inspector General of Police (IGP), Kayode Egbetokun, who is a Phd holder and the first in the police force to hold such distinguished academic standing.

    As an indigene of of Lagos state , the Inspector General of Police (IGP) is likely responsible for the removal of the unauthorized toll gate erected in front of Kam Selem House , a major  police facility in Obalende, near Ikoyi. This toll gate appeared after the access was barricaded to protect the police facility from potential attacks during the infamous #EndSARS riots in 2020.

    The blocked road had been serving as a crucial access point for commuters traveling between Obalende, a major bus terminal, and Broad Street, Awolowo Road in Ikoyi, as well as Tafawa Balewa Square, Tinubu Square in Lagos lsland, and the surrounding areas. Motorists, in their desperation to reach their destinations quickly, found themselves subjected to toll collection by the police who only lift the barricade after a fee is paid .

    Recognizing that charity begins at home, the  IGP probably initiated the process of addressing the misconduct within his own homestead resultingin the disappearance of the illegal toll gate . However, it is crucial for him to broaden this effort to encompass all aspects of the police force and formations nationwide .

    This proposed comprehensive approach would aim to restore the tarnished image of the law enforcement agency and proactively avert potential civil disobedience triggered by youth anger . Arising from the above immediate interventions are necessary to quell the rising discontent by deescalating it.

    Under the supervision of IGP Egbetokun, two rogue policemen attempted to extort money from a Dutch tourist who was biking from Europe to Africa. The incident was captured in a viral video, showing the officers demanding a bribe from the European cyclist along Moniya Iseyin Road. The victim recorded the crime on camera, leading to the arrest and summary dismissal of the corrupt officers by the Oyo State Police Command.

    The dismissed police officers, Kareem Fatai and Jimoh Lukman, were recently presented before the press at the State Police Command in Eleyele, Ibadan. This summary  dismisal  serves as a commendable disciplinary measure, demonstrating to Nigerians and the global community that the NPF will not tolerate such indiscipline.

    Such initiatives to eliminate undesirable elements from the force should persist as integral components of the NPF’s efforts to enhance its image.

    Indeed, IGP should establish a dedicated unit to oversee police adherence to the Service Act in their interactions with the public, who are not only critical stakeholders but also their employers.

    Commendably,the Minister of Interior, Olubunmi Tunji-Ojo, has launched an investigation into a similar  alleged misconduct by some officials of the Nigeria Immigration Service (NIS) at the Seme border. This move comes in response to a complaint filed by Moyo Okediji, a professor of African art at the University of Texas, Austin, who detailed his unpleasant encounter with Nigerian immigration officers on Facebook.

    According to Okediji, he was extorted and robbed of over $500 by NIS personnel when he entered Nigeria through Ghana. The NIS officials stopped him for a search and demanded $40 as a bribe, citing an expired Nigerian passport. The minister took action following Okediji’s complaint, initiating a thorough investigation into the matter.

    Hopefully, the perpetrators will be identified and subjected to disciplinary procedures, with appropriate sanctions applied if they are found guilty. In such a scenario, Nigerian law enforcement agencies appear to be on the path to redemption.

    On several occasions, governors, including Lagos State Governor Babajide Sanwo-Olu, have taken action against road traffic offenders while traveling in their convoys. A recent incident involved a man who identified himself as a member of the Nigerian army and was apprehended for riding on a bike against traffic.

    The incident, recorded in a video that subsequently went viral, led to a verbal altercation between the governor and the military petsonnel , sparking divided public opinions on whether the governor’s language during the arrest was justified. Since it is not within his official duties, he now faces accusations of improper conduct, which is regrettable.

    Unfortunately,what was initially seen as a promising photo opportunity, resulted in unintended negative consequences due to the fact that the governor took on responsibilities that fall within the purview of the police but which it failed to meet expectations.

    However,the governor’s initiative, similar to that of his fellow governors nationwide, that was supposed to be viewed as a commendable step towards holding traffic offenders accountable, has backfired as opinion is divided on whether he did the right thing .

    As the great philosopher Socrates wisely advised, “Man, know thyself.” This quote actually finds its origins in the scripture of Jesus Christ( Isa in the lslamic world) , specifically in the book of Thomas in the Christian scripture .

    It is now an opportune moment for the IGP Egbetokun to embrace this  injunction which is a sentiment echoed by philosophers such as Descartes amongst many philosophers.

    The lesson intrinsic in the philosophy is that Nigerian Police Force (NPF) should actively strive to understand its duties and obligations to society. By doing so, it can cultivate genuine respect for its stakeholders and employers. In fact,”Man Know Thyself “ should be part of the philosophical teaching in Nigerian police training schools.

    The adoption of such a philosophical doctrine should be an intentional effort of the IGP.

    That is what  is crucial to closing the integrity deficit currently afflicting the NPF.

    Magnus Onyibe, an entrepreneur, public policy analyst, author, democracy advocate, and development strategist, as well as an alumnus of the Fletcher School of Law and Diplomacy at Tufts University, Massachusetts, USA, and a former commissioner in the Delta State government, shares this piece from Lagos, Nigeria.

    For further conversation on this and more, please visit www.magnum.ng.

  • How phenomenal Mike Adenuga ended 2023 spectacularly – By Magnus Onyibe

    How phenomenal Mike Adenuga ended 2023 spectacularly – By Magnus Onyibe

    In the midst of December 2023, the streets of Banana Island,housing some of Nigeria’s most distinguished and affluent individuals, experienced a sudden transformation. This exclusive neighborhood is notably home to the generous and esteemed figure, Dr. Mike Adenuga Jnr, GCON, CSG, CdrLH, affectionately known as “The Bull” in reference to the charging bull insignia of his organization.

    The entire area got lit up with a vibrant energy, signaling the presence of prosperity and influence that resonates in this community. Dr. Adenuga’s residence, home to a man often considered as the epitome of generosity, stands out as a prominent symbol amid the opulence of Banana Island.

    The dazzling galaxy of lights adorning the streets of Banana Island which was made possible by Dr. Adenuga’s love for spreading joy reflects the festive season. And the  upscale enclave on the island, often referred to as the most expensive real estate in Africa, thus became a marvelous sight to behold.

    The dazzlement is so much that visitors might easily mistake the scene for a drive down Ocean Boulevard in Palm Beach, Florida, United States of America,USA. This famous street is home to Mar-A-Lago, the renowned resort and residence of former US President Donald Trump Jr. The transformation of Banana Island into a radiant spectacle during the holidays is truly captivating.

    In reality, the typically tranquil estate, adorned with grand homes nestled behind expansive foliage and carefully manicured bushes, underwent a remarkable festive season lighting transformation. It became aglow with dazzling lights to the extent that it could easily be confused with the iconic Times Square in New York.

    Times Square, renowned as one of the world’s busiest pedestrian areas, serves as the focal point of the Broadway Theater District and stands as a major hub in the global entertainment industry, brightly illuminated by digital displays.

    Similarly, those acquainted with Dundas Square in Toronto, Canada might easily mistake the stunning transformation of Banana Island in Ikoyi, Lagos for the end of year festivities . It now exudes a glamour reminiscent of the prominent landmark in Toronto, known as one of the city’s premier tourist attractions, akin to those found in Times Square, New York, USA.

    All these remarkable changes occurred because Dr. Mike Adenuga Jnr ,the unassuming Chairman of GLO, Nigeria’s premier telecommunications service provider decided to celebrate the end of year season with aplomb.

    It may be recalled that he is the one that revolutionized the GSM billing system in Nigeria ,transitioning it from per-minute billing, which was previously imposed on Nigerian consumers by pioneer mobile telephone service providers like Airtel and MTN, to a more consumer-friendly per-second billing.

    So, it is not surprising that Dr. Adenuga Jnr made the decision to enhance the atmosphere in Banana lsland , infusing it with a festive spirit to elevate the sense of conviviality typically associated with Christmas and year-end celebrations.

    Close observers of the phenomenal Dr. Mike Adenuga, Jr. are well aware of his ability to transform temporary setbacks into opportunities. One notable instance was when he successfully converted adversity into success by securing the license for his telecommunications company, GLO, as Nigeria’s national carrier.

    Initially facing challenges and setbacks in obtaining a GSM license due to technical and possibly political reasons, Dr. Adenuga Jnr turned the situation around. Despite being a late entrant into the Nigerian market, GLO his telecoms network eventually triumphed. This occurred after competitors like MTN and Airtel had already launched their services ahead of GLO.

    Dr. Adenuga Jnr has made a significant impact not only in the telecoms sector through his GLO network, which offers GSM services and submarine cables to other operators, but also in the banking and oil/gas industries.This is evident through his substantial stake in Firstbank of Nigeria, one of the nation’s leading banks and his ownership of ConOil.

    ConOil holds the distinction of being the first indigenous exploration company to be licensed and the first to strike oil in the shallow waters of Ondo state. Additionally, Dr. Adenuga’s influence extends to a nationwide network of petrol retail stations.

    In the waning days of 2023, Dr. Adenuga Jnr once again showcased his ingenuity in the telecom industry with a remarkable move that left his competitors astonished with their mouths agape, and arms akimbo.

    As widely recognized, the Executive Offices of the telecommunications, oil/gas, and banking tycoon which is appropriately named “The Bellisima On The Waterfront “ is located on Banana Island.

    This expansive real estate encompasses an entire cul-de-sac, equivalent to approximately two dozen plots of land, making it spacious enough to accommodate an entire village.

    Those acquainted with Bellisima At The Waterfront are aware that, in addition to the Executive Office and residences, it boasts a state-of-the-art auditorium for entertainment, along with a chapel and a small mosque.

    Owing to the vastness of the estate , movement around it from point A-to-B is by golf course-like carts. And that reminds of Mar-a-Lago Resort in Palm Beach Florida, USA where similar carts are used to facilitate mobility . I can recall that the one time that l attempted to move around Mar-a-Lago without the cart, l got lost and had to return to point zero from where l was allocated a cart to convey me to my destination within the complex.

    Now, somehow , at some point, Airtel’s advertising billboards began appearing on lampposts along the roads of Banana Island estate, a move seemingly prompted by a desire to compete.

    Challenged to assert its presence and maintain a competitive edge, GLO took a bold step by embellishing Second Avenue, a prominent thoroughfare leading into the exclusively residential area of the estate. GLO achieved this by installing digital lights adorned with the GLO brand, transforming the avenue into a sparkling spectacle reminiscent of Soul, Hong Kong, which holds the distinction of pioneering reputation of world no.1 city of neon lights .

    The exclusion of residents from First and Second Avenues from the benefit of the festive lights quickly sparked discontent, leading residents to express their displeasure at being left out of the exciting transformation brought about by GLO’s illumination of the exclusive estate for the festivities.

    Demonstrating its commitment as a responsible corporate entity, as it proudly declares itself to be, GLO stepped up to the challenge. The company transformed the estate into a dazzling display of flashing lights, much to the delight and satisfaction of approximately 2,000 residents from various parts of the world, given that the estate serves as a haven for expatriates.

    Incidentally the Managing Director/Chief Executive of MTN, Mr. Karl Toriola, who is a distinguished gentleman and a seasoned professional in the telecommunications industry and similarly , Mr. Segun Ogunsanya, who serves as the Chief Executive Officer of Airtel, also reside in Banana Island.

    Even the relatively recent entrant into the Nigerian GSM telecommunications market, 9Mobile (formerly known as Etisalat), has its head office located in Banana Island.

    So, it is easy to see why Banana Island, an exclusive enclave for the wealthy, got turned into a battleground for GSM service providers vying for dominance as 2023 drew to a close.

    Apparently ,the chairman of Globacoms who has over the years developed a fondness for nature, had acquired and distributed exotic ostrich birds that roam freely in the estate . These magnificent creatures captivate onlookers with their stunning display of elegant feathers as they strut around , showcasing their glory to impress admirers.

    Certainly, Dr. Mike Adenuga Jnr is not only remarkable for the one reason of his stunning accomplishments in the business world. His generosity also sets him apart, depicting him as a man with a heart of gold. This quality bestows upon him the distinction of being rightfully labeled as a phenomenal human being .

    What truly makes him extraordinary is his deep affection for the masses and the remarkable way in which he generously extends his support to the less privileged, his employees, friends, and society at large.

    One need not linger on Dr. Adenuga’s renowned philanthropic deeds towards sports men/women , sports  administrators and performing artists, including musicians and comedians. Some of these renown  individuals, who faced have misfortune in their respective life journeys , have always found support from Dr. Adenuga Jnr, just as many  of them have also become brand ambassadors for his diverse products and services. Additional ways of benefiting from him is that they also frequently appear  in media and entertainment shows sponsored by him.

    To bring the curtain down on the eventful year of 2023, on December 21st, the affable billionaire gathered his family, including children, grandchildren, and close family and business associates, for a festive celebration in the banquet hall at Bellissima At The Waterfront.

    The venue was adorned with extravagant decorations reminiscent of the dazzling displays seen at high-energy concerts held in Times Square, New York, or Dundas Square in Toronto as earlier stated.

    As a seasoned participant in the various gatherings hosted by Dr. Adenuga Jnr at his residence (which can be likened to Donald Trump’s Mar-A-Lago in Palm Beach, Florida, USA), found myself once more in attendance. I was there to relish the opportunity of celebrating the conclusion of 2023 and eagerly anticipating the arrival of 2024 in a peaceful and joyous manner as l have attended welcome reception parties for the prime minister of France , HE Emmanuel Macron,highly esteemed  Ambassadors of top countries on assignment to or departing Nigeria for new postings, or special birthday parties for special friends amongst other high octane events.

    After enjoying performances from distinguished musical artists like Flavor, Wande Cole, and various DJs and orchestras playing classic tunes by legendary artists such as Bobby Benson, Victor Uwaifo, Cardinal Jim Rex Lawson, and others, all accompanied by lavish meals fit only for the royalty, the phenomenal Dr. Mike Adenuga Jnr concluded the year 2023 in spectacular fashion.

    Of course the end of year party happened only after new milestones had already been set for 2024.

    Typical of Dr. Mike Adenuga Jnr who is quite  mindful of the hardships Nigerians are grappling with as a fall  out of the ongoing economic reforms in the country, the philanthropist made sure he shared some of his wealth generously with most of his friends, associates and well wishers so that they too can celebrate the festive season with their folks in their smaller circles in the society.

    Happy new year to all.

     

    Magnus Onyibe,an entrepreneur,public policy analyst ,author,democracy advocate,development strategist,alumnus of Fletcher School of Law and Diplomacy,Tufts University, Massachusetts,USA and a former commissioner in Delta state government, sent this piece from Lagos, Nigeria.

    To continue with this conversation and more ,please visit www.magnum.ng