Thursday, 23 August 2012

Investment opportunities and Nigeria’s economy.

 

It was precisely on 21st June 2012, a hot afternoon, a day geography scholars call the summer solstice. A crew of the Nigerian Footnote Magazine (NFM) journalists led by no less a juggernaut than the publisher of the NFM Chief Ebi Odeigah himself had the rare and privileged access to the thoughts of a former Wall Street guru Chief Ken Iwelumo (the current Alibo of Onicha-Ugbo) and Senior Vice President – Investments at Bank of America/ Merrill Lynch in New Jersey. B of A/Merrill Lynch is one of the largest investment banks in the world. The crew that includes Aham Onyemachi and Jessica Edozie met with Chief Ken Iwelumo on one and one. Questions on the national economy and investment opportunities were fielded by Chief Ken Iwelumo who gave highly inspiring and illuminating answers. You will enjoy this interview as you read it.

Good afternoon Sir.
Good afternoon.
The Nigerian Footnote crew just decided to talk to you at this moment. You are welcome Sir.
Thank you very much.
Please may we get to know who you are Sir?
My name is Ken Iwelumo. I am a former Senior Vice President - Investments and a Senior Financial Advisor at the Global Wealth Management Division, Bank of America/ Merrill Lynch. I am in the process of moving back to Nigeria where I hope my knowledge, financial skills and awareness can contribute to the development of my country. I took an early retirement last December, 2011 to fulfill my dream of assisting Nigeria in its economic development to help attract and retain quality Foreign Direct Investments and Private Equity Investors. So I am transiting back to Nigeria.
You are welcome sir
Ken Iwelumo: Thank you very much.
I hope you are going to enjoy Nigeria?
I have been visiting Nigeria several times a year for the past 10 years so I am very much at home.
OK Sir.
There is this news making its round in the media and investment banking circles that Nigeria is maintaining a foreign reserve of about forty billion dollars but Nigeria has a lot of challenges, some of which include unemployment, lack of new infrastructure and the old ones not maintained because of funding, electricity that is power. We cannot generate enough for ourselves principally because of funding, there is lack of funding for education, agriculture even security. We are also faced with lack of funding for aviation, ports development and so on. Poverty is everywhere yet we maintain a very large reserve. What can you say about it?
The reserve doesn’t mean that the money belongs to the government. Foreign reserves are foreign exchange balances that accrue to Nigeria being receipts for products and services that Nigerians and Nigerian Corporations export abroad. What it means is that the Central Bank Nigeria can only tap into this reserve to fund local foreign exchange demand. The money is not for development, the money for development is what the Federal Executive Council gets monthly. The funds belonging to the federal government include funds in the Excess Crude Account (ECA), tax revenues, royalties, short and long term loans etc. The reserves are simply what people in Nigeria sold abroad and the dollars that came from it.
Having 40 billion simply means that you are able to pay for your import not that you can use that money to develop your country.
If Nigeria can make use of that money to pay for imports, what it means is that Nigeria can use the money to import, say aviation equipments, security equipments like guns, etc.
Yes, but the government has to raise naira to access that money. The money is not free and does not belong to the government. The only way the government can have access to the money is to go and print naira. We are trying to achieve a balanced budget in Nigeria and not the deficit finance budget like the US so that is the problem here.
You were quoted as saying that you favour our currency to remain soft so that it will be attractive to foreign investors, were you quoted correctly?
I was correctly quoted. The stronger the naira, the more we are going to find frivolous import of goods by the rich and investors will not invest in Nigeria. For example, at 100 naira to 1 dollar, very few people in diaspora will send money home but at 200 naira to 1 dollar they will even borrow to send money home. Whenever the naira is weak, you will notice a boom in housing as people abroad will send money home to set up their businesses. Every country in the world is trying to make their currency weak in order to attract investors. China is a great example, India is another. When you are trying to export goods and services to the world, you need your currency to be weak so as to be competitive with other nations. When your currency is strong, people are not going to import from you or invest in you and you will have a greater risk of capital flight from your own citizens. Foreign Portfolio Investors (those who buy and sell shares in the Nigeria Stock Exchange) are notorious for trying to invest when the Naira is weak and cashing out whenever the Naira is relatively strong. Weak Naira encourages home remittances by Nigerians in the Diaspora. Strong Naira encourages fraudulent practices such as inflated invoices for imports in a corrupt contract fuel driven economy such as ours.
There are instances in the 1980s where some rich Nigerians thought it fashionable to fly their BMW’s and exotic cars abroad for servicing. Something that is never done today. This was in an era when the naira was two to one dollar. So, a weak naira attracts foreign investment, encourages export and also encourages Nigeria’s business men to go around the world looking for the cheapest sources of goods to import.
In the 1980s when naira was two to one, very few Nigerians wore shoes, wore clothes. Birthday photos with a heap of Jollof rice and a bottle of coke was the norm as opposed to today’s beautifully crafted made-in-Nigeria birthday cakes.  In 2012, the Naira is N160 to 1 dollar, everybody wears decent shoes and clothes.
In the 1980s and 1970s the UAC imported goods through the UK; the British parent company would now add a substantial agency fee and bring in overpriced and expensive goods in Nigeria.  Since the difficult 1990s and with the liberalization of foreign exchange policies, Nigerian business men routinely move through Asia looking for reasonably priced goods for the Nigerian market. This is why Kingsway Stores, UTC, Leventis, PZ and other pre-1990’s icons have all disappeared or morphed into entities that are more locally focused (UAC). Weaker naira has fostered or encouraged entrepreneurship within Nigeria Dangote etc). And this has happened in spite of the difficulties encountered in doing business in Nigeria, issues on importation and the unwillingness of the Federal Government to allow full liberalization of the Naira.
Foreign exchange is now more efficiently utilized in Nigeria today than in the 1980s. How many times have you heard of anybody shipping in containers of sand as a way to smuggle out dollars? That was when the naira was strong not now that the naira is weak. The recent drop in the naira is due to foreign portfolio investors moving their money out. This kind of situation is to be expected. It is temporal in nature. The naira will strengthen back to the N155 level when the portfolio investors are done moving out their funds. To get to the current exchange rate for the dollar, the Federal Government through the Central Bank has to balance the need of the various tiers of Government to import capital goods etc and the need for the economy to pass scarce foreign exchange to those who can utilize it most efficiently and profitably and attract foreign investments. I pray that Toyota, Mercedes Benz, General Electric, Siemens, Boeing, Airbus, Foxconn, Whipro, Heico, Qanta, GM, Merck and other major manufacturing and service concerns will take advantage of the weak naira and lower labor costs in Nigeria to set up parts manufacturing plants and assembly plants in Nigeria to provide jobs for Nigerians. The transformation agenda of President Goodluck Jonathan is about creating jobs, creating wealth and these cannot be achieved with a strong naira but only with the weak naira. Foreign investors investing over $250 million do not need any infrastructure. They bring in their own infrastructure including power. This in turn attracts smaller support companies creating an industrial center.
Thank you very much for educating us on this. There is another thing, it was reported in one of the papers recently that the nation’s income from oil is steadily moving south wards and government appears not to bother about it. As an acclaimed international investment banker and a Nigerian, are you bothered about it?
We have to understand that since 2009, oil prices have been fluctuating so you can expect some swings. But the challenge the government has is to be prepared for this fluctuation,that is why the government has some reserve in the Excess Crude Account (ECA). That is all I can say for now.
Apart from what you have just told us, what can you tell us more about Nigeria. Are you hopeful?
I am fully optimistic about Nigeria but the greatest problem we have in Nigeria is that we lack patience, we want everything immediately. Nigeria has over 160 million people and blessed with natural resources. We are evolving from an era when ruthless dictators did as they pleased towards full democracy where resources are channeled for the good of the people. Chief Olusegun Obasanjo’s regime was a transition regime. Nigeria is evolving towards a point where reckless corruption, selfishness and greed will not be tolerated anymore. Part of being a democratic nation means that you are going to have right to full knowledge of what is going on. Part of the price of democracy is that you will have from time to time radical groups like Boko Haram trying to disrupt the development of the Nation. We have a police force that until recently had no clue about intelligence gathering. We need to give Nigeria time to evolve and Nigeria is one of the countries that the world is not going to give up on. Our GDP based on the 1990 baseline is 70% of the economy with the Government not being aware of it. We are planning with inaccurate information based on extrapolation of erroneous UN estimates. If Nigeria revalued its real GDP today, you may be shocked that Nigeria’s economy is far bigger than South Africa’s economy. Nigeria’s real GDP is not known. I have a country home at Onicha-Ugbo, the Government is not aware of it. There are millions of properties and assets in Nigeria that the Government is not aware of. So what GDP are we talking about? So, I am optimistic about Nigeria. We should do away with corruption and bring in accountability and transparency. Ghana increased its own GDP using 2010 as a baseline and came up with $30 billion instead of the previous estimate of $20 billion. South Africa increased its own GDP using 2009 as the baseline. We are still using outdated data that is 22 years old.
Thank you very much Sir, we are very grateful. We hope to meet you again, maybe in Abuja.
Have a nice day.

nigerianfootnote.com

Probes without probity.

The setting up of probe panels has become a routine exercise in the country whenever something negative happens. But the panels do not achieve any result as their reports are either discarded or filled in the shelves.
When the House of Representatives set up an ad-hoc committee to investigate the nation’s subsidy regime, many Nigerians may have exclaimed in frustration ‘oh, another panel! Such hopelessness derived from past experiences where panels were set up, investigations conducted, reports written and nothing happens. But a kind of hope was ignited with the subsidy probe when the speaker of the House, Hon.  Aminu Tambuwal, admitted that the last House of Representatives made mistakes and promised to change all that. The speaker assured at the commencement of the subsidy probe that “we acknowledge that the dignity and integrity of this Honourable House have been called to question. We must possess the humility that commands introspection. We accept responsibility for our failures and ask Nigerians for their new era of forgiveness. Mindful of lessons of the past, we will open a new chapter. We will commence a new era of responsibility. This House will act responsibly in all its endeavours. We will be responsive, transparent and accountable in all we do.”
Again, the choice of Farouk Lawan popularly referred to as ‘Mr. Integrity’, the chairman of the fuel subsidy probe Adhoc Committee, further beefed up many people’s optimism. When revelations began to emerge from the subsidy probe panel and Lawan, displaying serious commitment in ensuring that the committee’s reports would be fully implemented, more people became hopeful. They thought that for once, all those who defrauded the country through the subsidy regime would face the full wrath of the law.
The revelations were strong enough to elicit such optimism. It was discovered that the Federal Government paid out N1.7trilion as subsidy on petrol and kerosene as at the end of 2011, fiscal year according to the Central Bank of Nigeria. The sum of N1.7 trillion posts an astronomical increase of N1.08 billion over and above the N620 billion subsidy figure in 2010.  Also, from a total of 49 fuel contractors in 2010, the number almost tripled to 140 in 2011. The contractors claimed to have imported 59 million litres of fuel daily, whereas only 35 million litres are consumed in the country. It appears that 24 million litres were smuggled out after the importers had claimed their subsidy.
All these findings point to the fact that the petroleum industry transactions and records are riddled with errors and sharp practices. There is clear evidence of smuggling and diversion of products; round tripping; contractors collecting subsidy money but not delivering products; unregistered firms importing fuel; and government giving instructions to subvert due process. Lawan, while delivering his closing remarks after sitting, sounded tough, further raising our hopes. He explained “Our recommendations will have judicial implications. Some will require prosecution and so on.”
Done with the revelations, Nigerians awaited eagerly the results. Instead of result, a bribery scandal reporting how Lawan collected $620,000 from Chief Femi Otedola, one of those indicted in the report, took centre stage. This development quenched the little hope Nigerians have on probe panels in the country. At the moment, not much is being said about the report. All attention is being shifted to the bribery scandal. Even if the report is to be considered, how genuine are its recommendations now that a slur is cast on the author of the report?
The allegation of bribery and corruption against the man referred to as Mr. Integrity has cast a serious slur on the whole report.
Once again, Nigerians have been taken through another round of probes without genuine outcome despite the staggering and dumbfounding revelations. But if the revelations made at the subsidy probe are not shocking enough, the findings of the Senate on Nigeria’s pension administration are appalling. While thousands of pensioners die on a regular basis due to inability to access their pension entitlements, a few civil servants in the office of the Head of service of the Federation, keep siphoning pension funds totaling  about N2 trillion, for their private use. For instance, the federal government releases N5 billion monthly as claims for its pensioners when only N1.7 billion was actually needed. In order words, every month, N3.3 billion was shared by the civil servants involved in the ‘deal’. Also, the Police Pension office collected N5 billion monthly as claims for pensioners, while it actually needed N500 million. There were revelations on how pensioners’ money was being looted. The Senate had adopted the report. How the executives will handle the report remains a matter of conjecture!!
But all the ovations heralding the revelations on the probes could be drowned when compared with the famous Ndudi Elumelu power probe of 2008. The Elumelu panel was able to establish that the Nigerian government spent $16 billion on power generation whereas the country virtually remained in total darkness after such whopping expenditure. It was revealed that dubious contractors took funds in the guise of executing power projects but diverted the money. Cases of over-invoicing and breach of “due-process” were equally established by the power probe committee. Elumelu was sure to his marrow that his committee report will send many people to jail with the country recovering some of the looted funds.
Sadly and shamefully too, more than four years after the probe, no contractor has refunded a kobo, nobody has been persecuted and none has gone to jail! Inspite of the merits of the report, on account of the allegations against Elumelu, the House of Representatives threw away the entire report. Worst still, Nigeria’s power supply has not improved. One wonders, what sense it makes to spend so much money and time conducting public hearings with the aim of addressing a problem only to throw the report away with a wave of the hand?
Despite the non implementation of previous probe results, new probe panels are continuously being set up. The House Committee on Capital Market has just concluded another jamboree of probe on why the Nigeria Stock Exchange crashed in 2008 and possible means of reviving the market. As usual, the probe has unearthed shocking revelations on the level of mismanagement, embezzlement, corporate irresponsibility and fraud that go on in the regulatory agencies of the stock market. On the outcome of the probe, Arunma Oteh, the Director General of the Stock Exchange Commission, SEC, has been sent on compulsory leave. One may be tempted to say at least, the probe has achieved some result. In as much as Oteh’s leadership style fell short of what is acceptable, the question many capital market operators want to ask is, was her mismanagement of SEC responsible for the market crash or did it stop the market from bouncing back to life? The answers are obvious. Instead of the revelations at the capital market probe encouraging investment in the market, it further eroded confidence. During the probe, the market shed over N49 billion. Market experts linked it to the fact that many investors were holding on to their investments while they watched the proceedings at the probe and what will come of it. Investors expected to see the probe panel discuss issues of market development; reasons why the market crashed to an all time low and the hindrances that had held the market down for so long. Sending Oteh on compulsory leave or even relieving her of her job, many may think, will not give the market the impetus it needs to bounce back. Many people have invested their life savings, sold their landed property and other assets to invest in the capital market and are disappointed that today, the best of the stocks is standing at less than one –third of its value before the crash.
Addressing these core market developments is to many, what the market needs. But that will only be possible if the report of the panel does not go the way of other reports.
One of the panel reports that Nigerians will not forget in a hurry, is the Mike Okiro’s panel report on the Halliburton bribery case. It was established that Halliburton paid $180 million as bribe to some government personalities so as to get favourable consideration in its bid for Nigeria’s Liquefied Natural Gas (LNG) contract. The scandal was widely propagated. To show its seriousness in fighting corruption, the Federal Government under the late President Umaru Yar’Adua, set up an inter-agency panel to investigate the scam and bring the culprits to book. The panel, which included the police, the State Security Service (SSS), the Economic and Financial Crimes Commission (EFCC) and the Nigeria Intelligence Agency (NIA), was headed by the former Inspector-General of Police, Mike Okiro. At the heat of the investigation, the then United States Ambassador to Nigeria, Robin Sanders, said that necessary documents needed by the Nigerian authorities to prosecute the case had been made available. Yar’Adua also confirmed the receipt of such documents. But till date, no Nigerian has been prosecuted on account of that case. While their Nigerian accomplices are going scotfree, foreigners involved in the bribery scandal have been jailed in their home countries. Two Britons and an American were sentenced by a court in Texas, United States, to various terms of imprisonment and fined varying amounts of money for conspiring and giving $180m bribe to Nigerian politicians and officials. The givers of the bribes, who are foreigners, have been prosecuted but the receivers, who are Nigerians, are yet to be found. To many, this is very laughable.
The 1999 Human Rights Violations Investigation Commission, popularly called Oputa panel is another grim experience of Nigerians of ongoing regards probe panels and their outcome. Immediately General Olusegun Obasanjo became the president of Nigeria, he set up a committee to look into human rights abuses in the country later known as Oputa Panel. The public hearings began in Abuja around October 2000 and lasted nearly one year. Nigerians were to learn, to their utter shock and disbelief how the country was governed and how fellow citizens were tortured and detained without trial for very long periods. Nigerians were made to confront their past, eyeball to eyeball. It was after these public hearings that the commission retired and produced its report which covered its terms of reference and submitted the report to the federal government on May 28, 2002 at the International Conference Center, Abuja. President Obasanjo, in appreciation for the work done by the commission, hosted members of the panel to a dinner at the presidential Villa. On that occasion, to the delight of many Nigerians, Obasanjo announced the setting up of an Implementation Committee that included some of the Panel’s members. The reason according to him was to ensure that the report and its recommendations were implemented as soon as possible. This was the last that was heard of Oputa Panel and its report.
All these cause people to conclude that Nigeria is a country of absurdity. Whenever something negative happens, a probe panel will be set to investigate the cause and take action. It is either the federal government constitutes a probe panel or the national assembly sets up a probe panel. The level of seriousness that will be attached to the panel and the gravity of ills they will expose, will make casual observers conclude that all those indicted will be persecuted. But all the noise ends the very day the probe panel winds up its sitting.
Obviously, probes in Nigeria have never produced any meaningful result or served as deterrent to public office holders that loot the nation’s treasury. In the last count, the Nigerian government has instituted over 5o different probe panels. The results are either cooling off on the shelves or outrightly discarded. Other notable ones are the Bola Ajibola Panel on Jos disturbances, 2010, House of Representatives’ probe of Customs’ Scam, January 2009; Senate probe of Obasanjo and Yar’Adua on Solid Mineral Special Account, February 2009; NASS probe of World Bank Aviation Loans of 2006 in March 2009; Senate probe of FG sale of Houses in Lagos and Abuja and many others.
Prince Onyekwere, a lawyer and social analyst, endorsed the perception of many that “indeed there is palpable feeling among most Nigerians that panels of inquiry are veritable escape vehicles to either thwart requisite enforcement and application of the law, or to mute and divert attention from real and extant issues of legal and constitutional infractions by recidivists. To this set of people, all probe panels are blatant waste of time and scarce resources.”
At the moment, the joint Committee of the House of Representatives and Senate on Aviation is conducting a public hearing on the Dana plane crash of June 3. Already, emotions are high, over 300 families are grieving, and many peoples’ hope for a better future has been dashed as a result of the crash. The revelations at the Dana Air crash public hearing, so far, are further fuelling the anger and pain of the grieved families. Perhaps, the best the National Assembly could do to assuage the pains and anger of these people is to ensure that all those indicted at the public hearing are prosecuted. If not, the probe panel will pass again for another exercise in futility.

Nigeria will disintegrate if….

Tony Nnadi Esq. is the convener, Movement for New Nigeria, Secretary General, Lower Niger Congress and Lead Counsel in the suit challenging the legitimacy of the 1999 Constitution.
If Nigeria is seen as a mere geographical expression, Tony Nnadi has advanced some very strong reasons in this interview by Fred Onyeka.
At some point in your struggles, you were involved in PRONACO to bring a change, at some time, the change Nigeria project came about. What platform do you use now to propagate your radical views on the Change Nigeria project?
It may sound radical to you but recently, President Jonathan at the burial ceremony of the mother of the Governor of Enugu State, in Udi, declared that the problems of Nigeria as he now sees it are traceable not to his administration that is just less than 2 years in office, but that anybody who wants to be sincere will trace the problems of Nigeria to 1914.  From that 1914 to 1960, that many things actually went wrong.  But from 1960 to date, many more things have gone wrong.  Anybody who would solve the problems of Nigeria must go back to as far back as those times of 1914, 1960 and proceed to the present day to get at what went wrong to enable him to solve the problem holistically. Therefore, what you call radical views are just the detailed diagnosis of what went wrong with Nigeria from birth to now.
Based on that diagnosis, there will be the prescription that we need to reconstruct the foundations that were wrongly laid by both Britain and those who took over from them in 1960, for which reasons our house cannot stand today. Everywhere you look, people are doing something to show that they are no longer going to remain in Nigeria that is standing on this current foundation. I don’t see any difference between what OPC was doing some 10, 12, 15 years ago and what MASSOB started doing in the East. There is no difference between what MEND started doing in the Niger Delta and what Boko Haram is now doing in the North. They are rejecting your Nigeria as defined by the current constitutional order. I live in this society, yes there are people who are making profit from this lopsided arrangement, there are others who have fled the country to seek greener pastures and safety. There are people who have gone to seek refuge overseas but some of us say no, we are not going to run away from criminals who have turned our lives upside down. We are going to stay here and put up a fight but it has to be a structured fight. It is not a fight that guns and bombs can do, it is a fight of the brain. We have taken time to find out what the problems are and we are happy to place those findings on the table. We didn’t fold our hands to say oh, we have discovered what the problems are. We went into solving it. We called for sovereign national conference for more than 30 years. From after the Aburi in 1967, Nigeria has been in need of a meeting of its component peoples to recommit themselves to the Nigeria-project because of things that went wrong, on the form of a sovereign national conference. But those in Government Houses who had secured their place of power over the rest of the people so much as to make it into a constitution that was written exclusively by them have bluntly refused to listen to any talk of such meeting because they believe it could be a challenge to their settled position of authority. It was after we had waited for that length of time that we now decided that we must go and call a meeting of the people of Nigeria, that was what becamePRONACO. Luckily there was Enahoro still around, there was Ojukwu and all other such people all around the country who helped to mobilize the ethnic nationalities of Nigeria into a conference to decide how they wanted to live together. Our thinking then was that if we could find something that was acceptable to all of the groups across the country, we would write it down, we could try to turn it into a constitutional framework, we would take it to the stage of referendum and we would now hold it as what we want in alternative to what the soldiers imposed on us in 1999. That conference was successful especially considering the fact that we were able to persuade those who were carrying arms at that time to put aside their arms and come for the conference. From the Niger Delta alone, we had 23 organisations that were carrying arms; Asari Dokubo and all of those who later now formed MEND. We came out with a draft constitution from that conference in 2006 which we also had to take through to an informal referendum. We took it round the country for those who didn’t attend. Of course, the conference did not sit in one corner, the conference had 164 delegations in attendance. I didn’t say delegate but delegation. Yoruba, Ijaw, Efik, Tiv, Anang, Fulani, Hausa, everybody. We sat in Lagos severally, sat in Enugu, sat in Port Harcourt. Ojukwu hosted the conference twice in Enugu, we went over to Jos, went to Kano and we came back to Lagos to conclude. It was a delegate from Katsina that moved the motion for the adoption of the finished product, the final draft of the constitution that came from the committee appointed by the conference. This is to tell you that, in all of that, we were just looking for a solution that was generated by consent nay by consensus. The United States saw seriousness in what we were doing, they sent an observer mission, European Union sent an observer mission that sat with us throughout the conference until we finished, but the Government in Abuja, led by President Olusegun Obasanjo was engrossed with how they wanted to remain in office forever. They didn’t bother themselves with what we were doing. We wanted a larger endorsement of it and what did we do in PRONACO?  Basically, it was those same questions the military leaders of Nigeria tried to answer in Aburi Ghana in 1967 that were  placed before the larger ethnic nationality that is, do the ethnic nationalities want to continue in Lord Lugard Union? Though yes was the predominant answer, each ethnic nationality had its own condition for continuing.
Are you saying that where PRONACO stopped, Movement for New Nigeria (MNN) continued?
PRONACO was a conference, it finished its business successfully, but Movement for New Nigeria (MNN) is the larger event of everybody including, those who were PRONACO and those who were not.
What did you set out to do under the new platform?
Yes, what we set out to do was to peacefully take Nigeria from where it is now, to the new constitutional order that will be acceptable to everybody because all the agitations going on across the country are matters of mere rejections of the current constitutional order. Even the Boko Haram, whatever anybody might accuse them of, remember the bulletin they issued after their track in Kano said that they want the 1999 constitution abrogated and sharia should replace democracy. They said they don’t want Western Education (Boko Haram). So, it was clear that they were rejecting the current constitutional order. Again, when you begin to interpret what OPC meant by going to pick up arms to chase police in the whole of Yoruba region, you discover that they were questioning the subsisting constitutional arrangement that placed the internal security arrangement of Yorubaland in the hands of non-indigenes. You see MASSOB flying Biafran flags rejecting Nigeria as defined by people who never consulted them. MEND, of course made their own abundantly clear too that they want a return to that former constitutional arrangement that was abandoned in 1966 that entitled them to the ownership and control of their natural resources. All of these agitations, all of those who came into Movement for New Nigeria, both those who were in PRONACO, and those who didn’t come but now have studied the finished product say oh, this is really the answer we need. We still insist that Nigeria did not start as our project; Nigeria was a British project for their own interest and pursuit. Yes, we have been here almost a 100 years and we have gotten mixed up; there have been  inter marriages; there have been inter dwellings across places of birth and all of that. We are saying it is possible to retain this union but it should not be defined in the master-servant relationship of the British because what they did was to appoint some masters over servants. They left Nigeria where the North was empowered to be in control of the country for all times.
Only recently, the lawmakers, the National Assembly made us understand that a new constitution would probably be ready in 2013. Given all you said so far, did you make any efforts to present these issues before them to see if that could form part of the new constitution?
It is a pity I do not blame characters like David Mark, poor soldier who doesn’t know any better. I do not blame Tambuwal but there are some lawyers in their midst. There is an attorney general in the country who should have explained to them that the National Assembly does not have constituent power to make constitution. What we are talking about goes beyond the mandate of the National Assembly completely. You know what a memo and article is to a company; memo and article create the company and settle the terms of the functioning of the company, it is only when and after the owners of the company have put their articles together that they hire a management team to go and run the company, guided by that memo and articles. The memo and article is the Bible, it is the supreme organ of everything. What we have in place in Nigeria is a situation where the management of a company has toppled the memo and article of the company as put together by the owners of the company and put in place of their own memo and article. That is what this current constitution is. That was what happened in 1966 when they toppled the five constitutions that defined Nigeria, and from that time started making constitution by decree to date. This is now the last of them, Decree 24 of 1999. So, we are saying that the constitution that was so imposed, so smuggled into being has now produced all of these, including the national assembly, the presidency and the three arms of government now resting on this foundation of falsehood. We are saying that it is never the business of the management of the company to write and rewrite the memo and articles of the company. It is always the business of the owners of the company. Therefore what is going on right now amounts to criminality for them to throw away the memo and articles we put in place by ourselves and put their own and now shut us out. They say we can no longer have a meeting to decide the future of our enterprise. The owners of a company can hold a meeting and dissolve their company if it is no longer working for them. If we were to make constitution by ourselves, we will not make a constitution that will give those who are supposed to be in charge of the treasury immunity. We would not make a constitution that would exclude responsibility towards the citizen in the constitution. That is what section 6, subsection 6(c) of this constitution does. The whole of chapter 2 lists all the good things the citizens, should have. Subsection 6 (c) cancels it. Meaning that those in government house do not owe you any obligation at all. If they build and school, road or hospital, they are doing you a favour. They have the spare key to the treasury in their hand by appropriation provision and they have immunity. So at what point are they going to be accountable to you?
All you have said so far suggests that even if the National Assembly comes out with a constitution next year or whatever time, it will be an imposition on Nigeria as long as there was no dialogue of address all the issues raised so far.
It goes beyond dialogue, it is a meeting that would write the document that was not in place before. It is not a matter of input from here and there. No, it is a meeting between the owners of Nigeria, those who could go off as countries of their own. Did you see the Yorubas flying their flags a few months ago? They would walk out on Nigeria and nobody is going to be able to stop them because the way they feel is the way the East feels and you think that middle belt will go to do Sharia with those in Sharia in those twelve states? no. Nigeria will dismantle if we don’t sit down to write down a document that will bind us together. We are doing everything it will take to shoot down this constitution the same way the Mandela and Co went to shoot down the apartheid constitution and if this constitution is shot down, Nigeria is gone. What we did in PRONACO was to work out an alternative of how we can keep Nigeria to the satisfaction of all.
Another fiery group-Save Nigeria Group is equally at the force front for a new Nigeria. Are you all together in this struggle?
At some point we had what we called-Change Nigeria because Movement for New Nigeria wanted to limit itself to the matter in court and the matter of disseminating Nigeria information quietly among the populace to educate them and enlighten them on these matters. That was how we came about the name Change Nigeria in 2009. We had some elements coming from some flank who came to hobnob with us for a while. They tried to turn what we were doing upside down, into electoral machinery, that is politicking and we said no, that’s not where we are going right in the midst of our discussions they turned the name into something else. Our own was “Change Nigeria” but they now said it is Save Nigeria at a time the public hadn’t quite digested the message we were bring out, so there was this mix up. Up till date, some people still think that we were involved. We are not involved right from the very day they were formed, adopting the name, save Nigeria at Sheraton Hotels in January of 2010.
Change Nigeria has nothing to do with save Nigeria.

Democracy and the insensitive Judiciary.

Democracy has become a fashion, indeed a world fad. It has spread by dissemination across nation boundaries rather than institutional fulfillment of election manifestos and needs developed internally by an increasingly participant society. Democracy has its embedded core values, principles and aberrations.
The deceased president Umaru Musa Yar’Adua had rumbled through the political scene loud mouthing the basic principles of democracy as his political slogan. I remember as if it were yesterday, former president Yar’Adua’s pedantic and pedagogic rhetorics on rule of law, separation of powers, due process, checks and balances, transparency, accountability and fiscal responsibility in a majoritarian, procedural and deliberative democracy.
Yet Nigeria’s democracy is still in shambles today. Our democracy is a ruse. It creates bureaucratic institutions that strengthen the strong against the weak. Attempts to reorder and re-engineer our democratic values to engender ethical leadership had consistently met with overt psychological resistance particularly from an insensitive and deceitful judiciary. The judiciary is responsible for the sordid and squalid condition of Nigeria today. Judgements given by the judiciary since 1983 to date have been a great disservice to democracy. The judiciary is the most conservative and insensitive of all the bureaucratic estates in Nigeria. Looking back at the self-serving and lack-lustre performance of the judiciary in 1983, 1999, 2003 and 2007 one is constrained to agree with Thomas Jefferson that law on its own will not resolve social conflicts. It is the honour in men that makes the law to work. Our judges have reduced our democracy to mere rhetoric, empty political sloganeering used to subject the electorate to a set of dominance rules over the controversial election years 1983, 1999, 2003 and 2007. Some conservative judges have been putting out the light of justice when they ought to have enkindled it. There are venal judges inured by greed and graft that have become deaf to the sound of weeping and the cry of the suffering and the oppressed in the land. Like Andrew Langs proverbial drunken man these judges prefer to use their lamp-post for personal support rather than for illumination.
Despite the layering of control institutions in the bureaucratic estate, our democracy has woefully failed to engender dividends of democracy on account of wrong-headed decisions of some delinquent judges. Our bureaucratic institutions nearly always collude like gangsters to deny the people of this nation justice, peace, free and fair elections, free education, free health services, potable water, good roads, food and shelter and uninterrupted power supply. Our democracy has posted only dismal performance to the records of the judiciary, the legislature and the executive realms.
Our democracy fosters and sustains high level of bureaucratic corruption notwithstanding that the government is based on a mixed constitution. Our law courts have been short-changed by the introduction of deceit in state craft by a corrupt executive that uses its levers of power to hector or even coerce the legislature and the judiciary to toe the line. How can a criminal or rogue estate investigate or probe itself effectively outside a credible system of internal audit? The judiciary glosses over overt aberrations that spoil our democracy. But our constitution is mixed and thus permits the judiciary to act in concert with the legislature or the executive to nip in the bud corruption, fraud, injustice and perversion of justice or other forms of criminality evinced by any institution of government. There are Federal Executive bodies created by the 1999 constitution of the Federal Republic of Nigeria (1999 CFRN). These include the Economic and Financial Crimes Commission, the office of the Auditor General, the police service commission, the Code of Conduct Bureau and Tribunal respectively among others. For effectiveness of control these institutions ought to report either to the judiciary or preferably to the legislature, not to the executive. The control process is vitiated once an institution sets up a panel to investigate itself. This is why we have become bored with probes that create other probes because ab-initio they were instituted as time wasters and dissatisfiers. These probes are deliberately designed for public ventilation of angst, acrimony and conduit for letting off the heat in the polity and to cool off public temper, that’s all.
A nation is finished once its judiciary is also corrupt. This may have been the grounds on which the late Lord Denning asked the mind-boggling question-“who Guides the Guardians?” Our judicial history is best described as 50years of legal despotism. The Supreme Court verdicts of 2003 and 2008 respectively were uninspiring legal realities. The Supreme Court justices were aware that the country is not doing well and so direly needs diverse, if not pervasive reforms. For the country not doing well, political pundits have put the blame on sundry reasons. Some blame the constitution, some blame the executive and the legislature. This writer puts the blame squarely on the judiciary. i.e. on the bar and the bench for approbating and reprobating. You may find it hard to reach the same conclusion unless you have passed through the crucibles of our law courts. Have you ever gone to our law court in search of justice? Have you ever sought the verdict of any court in Nigeria? It is only then you will realize that Nigeria has come under satanic bondage and that proxies of satan have held the nation hostage. Most of these proxies of satan belongs to the school of positive law. Besides the open malversation and asportation in their courts judges club and hobnob with hedonists, epicureans and dominant party charlatans in the executive and the legislature to foist their delinquent members on the nation whether they are competent or not.
Luckily there is another school of jurisprudence called the natural law school. The later school is the one referred to as the beacon or the last hope of the common man. That the judiciary is the beacon of hope of the common man could be dismissed as another political charade or gospel of mammon forming part of the deceitful strategies of proxies of satan. The natural lawyers believe that the rough edges of the law can be pruned and tempered with morals, equity and good conscience. But positive law vehemently asserts that there is no morality in law.
Like their counterparts in the executive and the legislature, men of the judiciary belonging to positive law school believe in the Machiavellian dictum that the end justifies the means. To our tribunal justices, it wouldn’t matter how you arrive at your electoral victory. To them it wouldn’t matter that you fouled your way through provided you were not caught in the act red-handed. At times even where the sceptre of authority and power was handed down through the back door our presidential elections tribunal had consistently upheld the strong to ditch the weak however genuine the complaints.
Again, why would a highly placed member of the judiciary allow his or herself to be put in the pocket of an incumbent executive contestant? For instance, shortly before the verdict of the Supreme Court in 2008, one of the contestants distributed National Honours. The list of the recipients included some justices handling his case. The justices did not see this honour as a Trojan horse. So they received the tainted honour. See how dishonor could be laced with the veneer of honour.
Nigerians will forever continue to be proud of the three justices that wrote the minority-report on the presidential electoral contest 2007 given in the year 2008. My guess may not be wide off the mark if the three justices belong to the natural law school. The four justices that wrote the majority report could not sympathize or empathize with the nation in need of a drastic paradigm shift. The 2007 presidential election was rigged by the party for a man of honour and integrity who said he did not want to rule on a flawed ticket. Nigerians expected the justices to be unanimous in quashing the first and calling for a second ballot. Some Nigerians are so rich that they can buy over the entire judiciary. Hence, it was not clear whether the law was weighed down by the doctrine of precedence or by a golden handshake.
There is a well-spring of conservative doctrine ingrained in precedence. When the circumstance calls for a dynamic and preventive jurisprudence, compulsive loyalists of conservatism and precedence often compel the nation to relive old injuries, injustices and traumatic ordeals of a previous life.
Note that conservative jurisprudence is not dynamic. It is positional, it is a static model. That was why the four justices of the Supreme Court though fully aware that the 2007 presidential election was rigged preferred to give a political decision. A judge with a dynamic mind can wiggle or wriggle out of the maze and stranglehold of a faulty and erroneous “ratio decidendi” (reason for the decision) using preventive jurisprudence in a fluid political environment like ours. Note that this conservative jurisprudence has often led to polarized verdict and negatively skewed decision cascades verging on the side of error and injustice. Our founding fathers like Dr Nnamdi Azikiwe and the late sage Chief Obafemi Awolowo lamented this injustice upto the time of their demise. The likes of General Muhammadu Buhari have been unable to obtain justice from our law courts and election tribunals inspite of their honour and integrity. Error in law is technically justice denied by design or default.
This nation has suffered serious set-backs in form of judicial miscarriages caused by fallacies craftily embedded in the premising of legal decisions based on specious orbita dicta (comments by the way). This is achieved by using technicalities and deliberate falsehood to background the “ratio decidendi”. It will be recalled that in 2008 while giving the majority report one of the justices said Nigeria is a vast country made up of so many diversities in terms of tribe, culture, sociology, anthropology and many political parties. There must be always irregularities he said. So the justices think excellence is a utopian dream.
In turning its verdict to endorse a flawed election, the judiciary for the umpteenth time turned down another opportunity to give the nation a psychic shift at least, if not a paradigm shift. The judiciary has over the years 1983-2008 not done the nation proud on election matters. The judiciary has become a treacherous brook that begrudges this nation life-giving water from its well-spring of justice.
I am told that most justices are gestalt psychologists that can control the minds of men with their diverse psychic resources. Why then did our own justices not study thoroughly the traits of former president Umaru Musa Yar’Adua to discern that the late president did not mind a second ballot victory to give other contestants opportunity to prove their claims practically.
It is true that our democracy is anchored on majoritarian principle, the cliché that majority carries the vote. Yet majority vote alone cannot legitimate electoral outcomes when basic rights, liberties and priviledges of an individual are at stake. Majority rule will only be deemed legitimate when the procedure taken to arrive at the electoral verdict or outcome is seen or perceived to be free, fair, objective and transparent. The future of this nation is in the salvation of the judiciary.

BUHARI: the Dog, the Baboon and the Blood revisited.

We have not heard the last of comments on the exothermic fumes and political fulminations of General Muhammadu Buhari. Nigerians ought to be thoroughly informed on the attitude and character of this icon and political juggernaut as the 2015 fortuitous date draws near. The editor of the Nigerian Footnote Magazine has taken the analysis of the implications of General Buhari’s unguarded utterances for the election year 2015 to higher redactional levels. Its compulsory reading!!
Temperament influences everything we do. The power and energy underlying leadership is impelled and propelled by the power of temperament.
The choleric thrives on activities. He does not need external stimulation. His high creative instinct stimulates the environment with ideas, vision, plans and programs.
He always knows what he wants from life and his environment. He is hot, quick, self-willed, self- sufficient and exudes overt masculine independence. The choleric finds it easy to make decisions both for himself and for others without delay or vacillation. The choleric temperament type is not petrified by adversity. Infact the choleric tends to flourish more under difficulties and dangers.
General Muhammadu Buhari (GMB), a former military head of state, is in this temperament mould. However it is not easy to categorize his leadership style whether it is exploitative-authoritative or benevolent-authoritative.
It is against these temperament characteristics one attempts to analyze and appraise General Muhammadu Buhari’s (GMB) preemptive campaign strategies towards election 2015. Coming to biometrics this Fulani general was born in December 17, 1942 and enlisted in the Nigerian Army in 1962 at the age of 20. GMB rose to the rank of a major general and after a successful military coup against the nation became the head of state and commander in chief of Nigeria Armed Forces from 31st December, 1983 to August 27th 1985 when his government was overthrown by General Ibrahim Badamosi Babangida after a successful military coup.
Many Nigerians admired GMB’S vision and mission for Nigeria against the backdrop of Buhari’s high survival instincts that ranked him very high on the score board. The west was however piqued and irked that the democratic government of the scion of the Sokoto Caliphate Alhaji Shehu Shagari was ingloriously terminated and sacked by some coupists viz: Major General, Muhammadu Buhari, Brigadier Tunde Idiagbon, Garba Taiwo, Abdulahi Mohammed et al. The west did everything in its power to axphixiate GMB’S military government by placing wholesale embargos on all forms of trade with Nigeria.
GMB’s high survival instinct enabled him to save his head where others were losing theirs. On this account, the trade and economic embargo of the west looked like water poured on a duck’s back as GMB’s power and influence waxed and spread to the Asian Tigers and the middle-East. New counter trade frontiers were opened in the Middle East and Central American States.
It appeared Nigerians had arrived the moment when real development could take place. Nigeria seemed to have arrived the threshold of converting her natural resources to national powers. The inward looking and expenditure switching policies of GMB’s government endeared him to Nigerians and to Africans at home and in the diaspora.
Every Nigerian then agreed that the right calibre of leadership had arrived particularly when compared with leaders in the delinquent and moribund National Party of Nigeria (NPN). The duo of General Buhari and the deceased no-nonsense Brigadier Tunde Idiagbon seemed to be both clear and far-sighted. They were clear-headed about the type of Nigeria they wanted. They put their nose to the grindstone and went hammar and tongues to inaugurate the level of discipline they wanted in the nation. General Buhari and late Brigadier Tunde Idiagbon former Chief of staff supreme headquarters, had zero-tolerance for corruption. They practically embarked on wholesale house-cleaning exercise. To get rid of the extant pervasive corruption in the nation and the bureaucracy, the duo inaugurated the War Against Indiscipline and Corruption machine.
But psephologists and political pundits have been unable to advance explanation(s) for General Muhammadu Buhari’s consistent rejection at the polls in 2003, 2007 and 2011. General Muhammadu Buhari is widely acknowledged as a man of honour and integrity. His tenure as minister, state governor and chairman of Petroleum Trust Fund under General Abacha’s government affirmed this public perception and view. His public perception and rating was so high that GMB ought to have swept the polls in 2007 and 2011, the period when it became obvious that corruption has become the bane of the nation and that GMB was the only leader with the political will to stop it.  So why could the general not win? Rigging does not provide all the explanation. There are other causative factors that can be blamed on the general himself such as loss or lack of self control. Self control is a trait of personality the disciplined leader must possess in no small measure.
The USA cleverly hypnotized Nigeria by predicting Nigeria’s disintegration in election year 2015. General Buhari seems poised to actualize this fortuitous American date 2015, a year every patriotic Nigerian ought to deprecate. General Buhari’s image and rating was standing high up there, before it tumbled and crashed to pieces shortly after the unguarded utterances that led to the pervasive killing of Christians and the National Youth Service Corps members in the north after the announcement of presidential election results in April 2011. But his May 14th 2012, violent threat to the life of the entire nation makes every Nigerian feel uncomfortable and insecure. Perhaps the general does not realize that he scares those who would gladly and gratuitously vote for him through his threats and violent utterances.
After his 14th May 2012 violent threats that “the dog and the monkey will be soaked in blood if the 2015 general elections are rigged” the general’s popularity and electoral fortunes dipped further.
One does not need a psephologist or soothsayer to say that the general cannot win any election in Nigeria however validly conducted for the simple reason that he has put the lives of the people at grave risk. Nigerians love peace not war. That’s why they embraced two peaceful religions- the religious are Christianity and Islam. But why would thousands or millions of Nigerians die to enable just one honest and benevolent leader to rule?
Indeed the general is honest. He is a man of integrity. Let it also be conceded that he will have the political will to do the right things. But this is no guarantee that the general will do things right, follow due process and allow for separation of powers. General Buhari is not a democrat. He doesn’t strike me as one who believes in democracy tenets e.g rule of law. He does not pretend to be one.
The General strikes me as a spiritual leader of the faithful. Democratic traits cannot be acquired or cultivated overnight in a great general and leader of the faithful like Muhammadu Buhari.
And since old habits diehard, Nigerians cannot expect the general to unlearn his military traits within the next three years (2012-2015). However, the general can make headway in his ambition to rule Nigeria if, and only if:-
a)     He decides to change his military attitude, discard pride, put up a humble disposition and show esprit-de-corps in the management of power relations.
b)     He must forth with reorganize his party to enable it to go into fruitful alliance with the medium and the mushroom opposition parties to contend with and give the PDP a good fight come 2015.
c)      His party the CPC and allied parties must have visible and proactive presence in the South-East, South-West and South-South. He must avoid needless conflicts and controversies by working hard in all the 36 states and Abuja to sell feasible programs that the people can buy into. General Buhari must avoid the syndrome of “bad winners and bad losers”. He should be a good winner and a good loser.
d)     Nigerians need leaders that can develop them, not leaders that dominate them however high, however religious. If the Congress for Progressive Change, the Action Congress of Nigeria, the ALL Peoples Grand Alliance and the Social Democratic Mega Party can come up with a carefully articulated and crafted manifesto on how to develop the people and the nation and device strategies to drive them home to the people, Nigerians are ready to vote out the already delinquent Peoples Democratic Party. This is only possible when a dominant opposition party comes upstream.
Based on the principle of dualism every coin has at least two sides. So far GMB has fared well from our analysis and diagnosis of one side of his behavior characteristics. Let’s examine the other side. Outwardly GMB evinces the taciturn, reticent disposition when not under pressure or provocation.
Yet his critics say this reticent disposition is used to veil his very low boiling point. A leader who can set his house on fire under provocation cannot be an option today.
There has been an allegation of bigotry and tribal irredentism against the general. These were the main, if not the only charges against Buhari before he started showing manifestations of arrogance and intolerance, traits that culminated in his government’s clamp down on the press in 1984. Two Guardian journalists were jailed for simply publishing that “Eight military chiefs had been tipped for ambassadorial jobs and that Haruna was to replace Hannaniya” under a retroactive decree 4, 1984. Whenever election results are released the General is known to seethe with anger. Each time he loses election, he feels like going to war to destroy the very nation he wants to rule!!! GMB could not veil his choleric temperament even in this era of servant-leadership inaugurated by the humble and good natured late president, Umaru Musa Yar’Adua. GMB has refused to discard his carriage of himself as a maximum ruler. There is a certain air of solipsism about him that makes Nigerians fear that his absolutist predilections may truncate our democracy and divide the nation should he be voted into power. Nigerians don’t want war. They want peace. Nigerians are single-minded in this, a war monger would not be allowed to lead the nation. Yet from Chief Tony Nlemadim’s reaction to a write up by Prof. Femi Ajayi of Babcock University, one gets the impression that one may be pleading before willing bondmen. Chief Tony Nlemadim said that Buhari irrespective of his shortcomings remains the only one with the courage and honesty to put things right. His putting things right includes bringing to justice all those who have stolen our wealth, retrieve such wealth and clamp them into jail to serve as a deterrent to future thieves.
Chief Nlemadim noted that Buhari never said “come rain, come shine, there will be blood shed in 2015. Buhari only sounded a warning to those who have taken it upon themselves to rig and steal the peoples’ votes”. Why should the guilty be afraid of this seeming harmless statement from a man who obviously means well for the country, Chief Nlemadim wondered! Said he, “unless brave men like Buhari come out strongly against this mindless cabal stealing all we have who thereby mortgage the future of our children and country, the evil and bloody day can only be imagined. Somalia will be a child’s play when compared to what will happen in Nigeria”. But it is clear that Chief Nlemadim sees politics as the moral equivalent of war. When we speak like Octavius Caesar who said “if arguing make us sweat, the proof of which shall turn to redder drops” we speak the language of force in what should be a peaceful game like football. Chief Nlemadim contended that nothing was wrong with Buhari’s message. Also, Prof. Femi Ajayi said he had no problem with the message but rather with the messenger. When anyone who reads between the lines appraises General Muhammadu Buhari’s vitriolic effusions and volcanic eruptions one will agree with McLuhan that the medium is the message. So there is need to appraise both the medium and the message.
It had been said before now that it is suicidal for a vulnerable nation like Nigeria to play into the hands of blood thirsty war mongers. Has the nation’s blood not spilled and flowed enough like a river since 1966 when the first Boko Haram saga was unleashed on the nation. That saga culminated in the killing, maiming and destroying the properties of the Ibos resident in the North. The north called for secession (araba) and gave Ibos ultimatum and deadline within which they must leave and return to their native homes. Those who failed to heed the deadline set by these marauders and murderers were smoked out of their homes like bush rats, rounded up, maimed, cut down and killed en masse in cold blood. There is a replay of this ordeal today. Must Nigerians go through this ordeal again after 46years to appease the political ambitions of those born to rule?
The tongue is a very diminutive member of the body. It’s at the same time a listless evil. It can make or mar the nation. What we say to the nation can make or mar the nation. When the tongues of men predict bloodshed their prognostications create instances and circumstances that plod and goad the nation to the blood-bath forecast by the USA. It was the USA that first sowed a dangerous wind in the life and destiny of the Nigerian nation. This American incantation and satanic projection of blood for the dog and the monkey are today only a little less than reality. Our politicians have already cut the bug with a mindset that is ready for war.
Peace cannot be achieved by force. It can only be achieved through mutual understanding. What matters in elections is not the number of innocent Christians the contestant kills directly or by proxy. What matters is the votes the contestant can muster. Killing of innocent Christians cannot make Buhari or any northern leader president.
If General Buhari destroys Nigeria today with his outbursts because Dr. Goodluck Jonathan is the President, there will be no nation for him to rule with iron fist. When he imposed himself on Nigerians between 31st Dec 1983 and 27th August 1985 as commander-In-Chief nobody dared his illegal government. Now he is daring a commander-in-chief validly elected by majority of Nigerians. All Nigerians cannot keep quiet about this. Buhari needs a rethink as a statesman at this time. Every aggrieved Nigerian should know that we are all brothers, all dogs, no baboons. There should be no bloodshed because “dog no dey chop dog”. We want peace.

Jimoh Ibrahim sacks Ekpu and co from Newswatch .

Says the four founding members do not hold enough shares to be in the board.
Newswatch Communications Limited has announced the sacking of Ray Ekpu, Dan Agbese, Yakubu Mohammed and Soji Akinrinade from the Board of Directors of the company.
A statement by the company said their removal from the board is sequel to the Share Purchase Agreement (SPA) signed by them, which required them to have "appropriate shares" to be on the board of the company.
Section 7.0 of the said SPA states: "Both parties agree that the founding members of the company retiring could take up appointments as consulting editors, up to a period of two years; or membership of the board, where appropriate”.
According to billionaire businessman, Jimoh Ibrahim, who recently acquired majority stake in the company, the collective shares of the four founding members is 6.1 per cent of the total shares.
"They are knowledgeable and old enough to know the implication of the documents they signed and as such cannot eat their cake and have it," said Ibrahim; adding that by law, only a shareholder holding a minimum of 10 per cent stake can legally demand for a board seat in any company.
He advised them to approach the company to buy more of the unalloted shares in order to retain board seats. "Having voluntarily retired from the company, and having their benefits paid," he said.
The four founding members had protested the suspension of the publication, accusing Ibrahim of going against the agreement reached before the sale.
The new owner, however, insists that a suspension of the publication and a total restructuring of the company is the only way to get it out of the woods.

Tinubu: The Opposition and Nigeria’s Challenges.


Text of the speech by Nigeria’s opposition leader, Asiwaju Bola Ahmed Tinubu, delivered Wednesday at the Woodrow Wilson Centre, WASHINGTON, DC.
1. Mr. McDonald, Distinguished Ladies and Gentlemen,
I am honored to be here today at the Woodrow Wilson Centre and thank you for inviting me. I commend the work that you do. This is an institution known for scholarship, lively discourse and the search for policies that advance peace and development. By shining the light of knowledge, you help dispel ignorance and explore solutions to conflicts. Therefore, I will do my humble best to speak in the spirit that is the hallmark of this venerable institution.
2. Nigeria is the focus of our conversation today and I will attempt to briefly capture the challenges that confront us as a nation. I have devoted most of my adult life to promoting democracy in Nigeria. The battle has been neither short nor easy. I have lived in exile, unsure if I would ever see my homeland again. My life has been under threat to the point where I did not know if I would see the next sunrise. I say these things not to boast. There are thousands who made similar or greater sacrifice. I say these things so you may understand that my address to you is based on the long-term perspective of a person who has occupied the trenches from the onset of the struggle for democracy versus dictatorship in Nigeria. I am not of that class of politicians who have benefitted from the struggle without participating in it. Because they never invested themselves in this clash between liberty and blind might, these politicians do not fully appreciate, nor do they seek to advance the cause of democracy. Because my life has been defined by the achievements and setbacks recorded in this struggle, I understand with every sinew and fiber of my being how far we have come and how far we have yet to go.
3. Background: The House Has Not Fallen but Its Structure Is Weak
Nigeria currently is tossed by four distinct but related storms. First, we exist in political limbo. Although uniformed generals no longer formally control the levers of government, the ways and manner of military rule still dominate the political landscape. We hold elections in Nigeria. But that isolated fact does not a democracy make.
4. Nigeria exists in that strange dimension where we have a civilian government equally possessed of the attributes of authoritarian rule as if democratic governance. Everyday Nigeria awakens, it awakens to this hybrid existence and a vexing question: To which side shall the balance tip? Although most of us consider this an unfortunate predicament, numerous actors profit from the current state of affairs. Leading figures in the Peoples Democratic Party (PDP) have repeatedly proclaimed the objective of ruling Nigeria for an uninterrupted sixty- year period. Such dynastic aspirations are at variance with true democracy.
Then there are those of us who believe the veneer of democracy is insufficient in this day and age. We believe Nigeria cannot remain a confused hybrid without succumbing to national regression. The nation must move either toward real democracy or real disaster. People are fond of saying that Nigeria is at the crossroads. Our situation is more complex than what the phrase usually implies. We are like a person with multiple personalities standing at the crossroads. Consequently, we remain locked in a struggle simultaneously pulling Nigeria in different directions. Democratic and authoritarian forces engage in a tug-of-war in which the soul of Nigeria’s governance is the prize at stake.
5. Due to the fact that competing elements of the political class have been locked for the last 13 years in this struggle to define the nature of government, there has been insufficient governance for the benefit of the people. We certainly have not seen much good governance. To be honest, we have not even had much in the way of purposeful democratic governance. Unfortunately, we have suffered more from inertia and confusion than from rule of intelligent but malevolent design.
6. Second, mostly due to Boko Haram and criminal groups in the northern and eastern parts of the country, internal security has ebbed to a low point. This has led to fear and uncertainty. Tension now dominates religious and political activities. It has had a profound chilling effect on economic activity in many areas. In many places, for example, children no longer go to school and farmers neglect their fields, fearing attacks by Bolo Haram.
7. Third, ethnic and sectional divisions are presently higher in Nigeria than at any time in recent memory. The ruling party resides in a state of chronic indigestion regarding the ethnic and regional allocation of top offices in the party and government, especially that of the president. Although members of the same “ruling” party, political figures from the north and south hurl often reckless accusations at each other not because of differences over substantive issues but because of regional loyalties. They don’t differ over substantive issues because they rarely think about such matters. No, they bicker across the widening geographic and ethnic divide that they have helped to create. Those who should aspire to the status of statesmen lunge at one another like street brawlers.
8. Talk of disintegration now is fashionable in some quarters. Two weeks ago, a faction of the Movement for the Survival of Ogoni People (MOSOP) issued a Declaration of Independence in Nigeria and designed a flag representing the sovereignty of the Ogoni people. Calls for self-determination by the South East-based Movement for the Actualization of the Sovereign State of Biafra (MASSOB) have intensified. Last week, MASSOB was reported to have applied for UN observer status. Add to these developments, the new sense of Ijaw ethnic consciousness, similar ethnic agitations and Boko Haram’s anomie and you realize all is not well with Nigeria. It is clear that centrifugal forces have gained strength and this noxious gain is substantially due to the intramural machinations that define the ruling party.
9. Fourth, for the majority of Nigerians, the economy functions as an obstacle not an ally. Government claims that Nigeria enjoys the world’s third fastest growing economy with annual GDP growth of roughly 7 percent. This handsome figure contrasts with the unattractive lives most people endure. Income inequality is among the worst in the world. A higher percentage of Nigerians now wallow in abject poverty since the ruling party came to power. With insecurity escalating across large swaths of the land, electricity generation at a miserable 4,000 MGWs for an entire nation of over 150 million people, the collapse of the manufacturing industry and spiraling unemployment figures of youths and college graduates, it is difficult to take the GDP figure at face value.
The Nigerian government finds it convenient to lie. If by happenstance the GDP approximates the truth, it means super-elite within the elite benefits enormously while the rest of the nation suffers. True national prosperity cannot be founded on such a top-heavy architecture. Most Nigerians believe their lives are much harder now more than 13 years ago and getting worse. The hope that people still have about the future has nothing to do with the quality of government economic policy. It is mostly due to an innate sense of optimism that is a uniquely Nigerian trait which defies the normal standards of logic. It is one of the things that keeps Nigeria afloat though so many things say it should have already drowned.
10. The picture I have painted is stark but accurate, harsh but not hopeless. If I thought things were beyond hope, I would pursue another vocation. I am glued to this path because I believe a democratic, responsive government can improve Nigeria. However, if it persists along current policy lines, the federal government will resolve nothing and will preside over a worsening state.
11. I do not claim the opposition to be a choir of angels. We are not. Not all who call themselves to be opposition politicians are bona fide democrats. There is a principled opposition and an opportunistic one. Some are disgruntled elements of the current regime who have slipped into the opposition for a chance to settle personal scores or to advance personal ambitions through a different route. These people are opposition in name only; in reality, they are but the photographic negative of the status quo they purport to oppose.
12. Nor do I believe those in power are evil incarnate. Some are decent people. However, the governing system they have created and the dominant values under which that system operates extinguishes these people’s finer qualities. The overriding concern of the PDP political community is to retain power, not to advance the public welfare. With all our gaps and imperfections, the opposition is possessed of greater civic purpose and has in mind substantive policies qualitatively better than the toxin the current government is brewing.
13. In the rest of this address, I will contrast the policies of my party, the Action Congress of Nigeria, with those of government. You will see that we have significantly different visions. The problem with our current rulers is not that they don’t love Nigeria. They love the concept of Nigeria well enough. The real problem is that they care little for the average Nigerian.
14. Insecurity: A Growing Nemesis
Nigeria is fast becoming one of the most dangerous places on earth. The stories of militia killings, brutal attacks and bombings we thought restricted to Afghanistan, Iraq or Somalia are now daily fare in Nigeria. In Boko Haram, Nigeria confronts a creeping, low-grade, brutal insurgency. These extremists oppose more than the current Administration; they threaten Nigerian democracy. Large parts of the country now lie outside the authority and control of federal government. People in these areas are more cognizant of the extremists’ senseless violence than they are assured of the government’s ability to stop it.
15. There has been energetic debate whether poverty or a distorted Islamic radicalism feeds Boko Haram’s emergence. The debate is unnecessary. Both are factors. Poverty is a terrible weight that most of its sufferers bear silently. What rankles is not simply poverty but poverty occasioned by injustice. When young people concluded that their lives are finished before they start and that the reason for this is the corruption of government and established leaders, enter radical and violent ideas about Islam as the wrecking ball to tear down the corrupt edifice. Without this combustive mixture of poverty and injustice, Boko Haram would be a fringe movement with a few members engaged in petty crime. Because of this combination, Boko Haram is a socio-political reality with many members and even more sympathizers. Boko Haram is succeeding in its agenda to upend Nigeria. Not only has it challenged government authority across the North, it has revived ethno-religious antagonisms that were better left buried.
16. In the face of this threat, government has been ambivalent. One day, government states it will forcibly deal with the group. The next day government leans toward negotiations. Although this problem has been with us for some time, policy coordination remains ineffective. Because Government fears decisive action will produce political fallout, they have resolved to be irresolute. Thus, government has done little except leave an over-stretched and under-equipped police force, backed by army units in the most heavily-scarred locations, to respond to Boko Haram attacks and dispel their cells. The most one can say is that government policy is one of soft containment. This has proven to be ineffective, and perhaps counter-productive.
17. Government must realize BH is more than a law enforcement problem. It is a socio-political threat of such magnitude that confronting it can no longer be subservient to crass political calculations. Government must operate on a grander scale. While I do not fully agree with Assistant Secretary Carson’s proposal to create a Ministry of Northern Nigeria, I endorse the implication central to his recommendation: bold, strategic innovation is required.
18. Correct policy must be twofold. First, it must protect the people from repeated attacks. Second, it must weaken the extremist organization. Clandestine groups of this nature are comprised of factions of hardliners, pragmatists and casual followers. The task at hand is to drive a wedge between the other sub-groups and the hardliners. The pragmatists will be amenable to negotiation and reintroduction into society. As a socio-political solution is being fashioned in a way that reduces the number, operational breadth and political strength of BH, government can then treat the reduced number of hardliners as more strictly a law enforcement matter. What follows are important suggestions that government should explore to achieve these objectives:
A. Improve local community-based information-gathering and sharing.
B. Enhance local conflict resolution measures.
C. Deploy adequate and trained security personnel and establish community policing
D. Compel better coordination of intelligence among security agencies
E. Set up local human rights monitoring groups.
F. Create employment and economic opportunities.
G. Open dialogue with the pragmatists and local opinion-makers.
H.Provide feeding lunch in primary and high schools to take children off the streets
I. Direct support to the farmers; combined with skills development programs for the unemployed.
Economic Policy: The Richer the Nation, the Poorer the People?
19. The vast difference between the government’s economic outlook and that of my party was manifest in government’s mishandling of the fuel subsidy removal. Government revealed a preference for fiscal austerity that would increase costs paid by the private sector thus deflating aggregate demand at a time when the private sector was stagnant and more deserving of fiscal stimulus than in need of restraint. The public eruption that followed government’s decision transcended the fuel subsidy. This decision and the public’s reaction were about the relationship between government and the people and about the primary objective of government’s role in the economy. It was about whom, among the Nigeria’s various social classes, did government most value. This was why mass demonstrations occurred in major cities throughout the land. The protests were not because people would spend more for gas. The protests were because people felt betrayed.
20. Government’s decision to remove the subsidy was made simply because this government saw more value in “making” money than in “saving” the hard-pressed masses. In other words, the people were not worth the expenditure. By seeking to end the subsidy, government breached the social contract for no compelling reason. Months before the fateful decision, the opposition met with the government and warned it about the dangers of its approach. Instead of attacking the subsidy because it affronted economic orthodoxy, government should have weighed the actual political and economic benefits of the expenditure. The opposition insisted that there must be conditions precedent. My party was not wedded to the subsidy but was wedded to the maintenance of a comparable level of investment in public on social programs. We suggested a plan whereby the subsidy would be methodically phased out and the people compensated with investment in public transportation, primary health care, and infrastructural development. Complementing this would have been a public affairs strategy fully explaining to the people that the change was not to breach the social contract but to improve it.
21. The starting point should have been a calculation of the amount government could afford to spend on the general welfare given the level of overall national economic activity and the constraints imposed on government expenditure by inflation. Ignoring our counsel, government lifted the subsidy by stealth. Government also deployed armed soldiers to deter further protests. This episode reveals the vast difference between opposition and government economic policy. The priority of fiscal policy should be the maximum improvement of the overall economy. Fiscal surpluses or deficits are but tactics to achieve this objective. Sadly, government has elevated a mere tactic to the status of the primary objective.
22. The Nigerian economy is characterized by idle human capacity and thus suppressed aggregate demand. Government fiscal policy has a significant role to play in putting the idle to work. The current administration seeks the path of austerity. This will push Nigeria into the same predicament the United Kingdom and the Euro zone now face. Government expenditure is needed to stimulate the economy up to the point where the growth of inflation does not cause such damage that it erases the benefit derived from the additional expenditure.
23. Last, we need to reform the Nigerian National Petroleum Corporation (NNPC) and the labyrinth of agencies that nurse at its udder. The current Petroleum Industry Bill, PIB, is not the right effective prescription. For instance, the bill yields too much power to the Minister of Petroleum. Furthermore, some parts of the bill makes the oil sector even more fertile ground for corruption and patronage. The bill should be amended so that the NNPC functions like a duly regulated publicly owned and publicly traded company. This will minimize the opaqueness that now characterizes company operations. Earned revenues will then be used for their stated purpose and not some one’s private political end. Also, the PIB needs to be recalibrated in order to strike a fairer balance between the needs and objectives of international oil companies and the needs of Nigeria. The Brazilian experience with Petrobras and the success made of it is here instructive. Norway is flourishing today because of transparency in its oil industry operations.
If we can take these aforementioned steps, government will promote growth that benefits ordinary Nigerians. If we continue as we are, the Nigerian economy will cement into a highly bifurcated, unjust one where a small elite enjoys the fruit of life while the majority of Nigerians participate on the losing side of a life-long contest against poverty.
24. Electoral Reform: Less Than Meets the Eye
As a result of agitation by the opposition after the 2007 elections, the late President Yar’Adua inaugurated the Electoral Reform Committee. Chaired by former Chief Justice, Muhammed Uwais, the Committee produced a comprehensive report enumerating 83 substantive recommendations. With this document, Nigeria has the blue print needed for electoral reform. Key recommendations dealt with ensuring the independence of the Electoral Commission and of creating an electoral process less vulnerable to manipulation. If implemented in full, the report would have radically transformed the political landscape, placing Nigeria on the path to fair elections and legitimate democracy. Save for the replacement of the INEC chairman, only few of the recommendations were enacted.
25. The 2011 elections were better than the 2007 edition. However, they were not of the outstanding quality government and many international observers claimed. In a way, international observers did Nigeria a disservice. Expecting the worst, they unduly applauded the modest improvement that took place in 2011. Observers should not have been taken in by the orderliness of the ballot casting at the local polling booth. In Nigeria, the ordinary people have always done their part. The people are ready for democracy. It is the most powerful faction of the political elite that is not. Your observers did see what happened before Election Day or after the polls closed. Observers judged a complicated electoral play solely by viewing one of its several acts. If they had observed more carefully, they would have seen that hundreds of members of the opposition were beaten, several others killed and scores detained simply for carrying the membership card of the wrong party. In parts of the country, it effectively became a crime to be a member of the opposition. In many parts of the country, the voting tallys were so inflated as to embarrass the less flagrant agents of malpractice in the ruling party.
This is a truer picture of the 2011 elections than the tidy fable widely disseminated. The negative consequence of the overinflated measure is that the bar has been set too low for subsequent elections. Those in power believe they do not need to improve the process. This would be a gross miscalculation. Should subsequent elections be of the same dismal quality, there could be an eruption that bypasses the court system as the best means for resolving the egregious malpractices.
26. Although facing this stacked deck, the ACN registered electoral gains. Made anxious by our victories, the PDP has determined that we shall not win another contest where they field the incumbent. In this vein, the lone reform they promoted since the 2011 election was a measure terminating electoral complaints 180 days after their filing. Rarely do cases get heard within the time allotted by the new provision. This means most cases will ultimately be dismissed on a feeble technicality. All the guilty party need do is to stall court proceedings, which is an easy feat in Nigeria. If this law had previously existed, the successful complaints lodged by the opposition in Ekiti, Osun, Edo and Ondo states after the 2007 elections would have been rejected on technical grounds. The criminality of those who actually lost the contests and rigged the vote tally would have been rewarded by granting them the highest office in their states. Let me state unequivocally, that the 180-day law is an imposition against the just disposition of electoral disputes. It is a cynical use of the law to protect the corrupt hijacking of the electoral process and the electorate will. The ruling party, PDP has used the tyranny of its majority in the Parliament to abrogate the electoral rights of Nigerians to fair hearing. The opposition will be relentless in the fight to upturn this unjust law.
27. What the new 180-day law does is to first strike fear in the minds of citizens that legitimate petitions will fail and then create doubts about the electoral system and the dispensation of justice. Ultimately, this could lead to people pouring out on the streets to resolve electoral disputes or simply resorting to other means of self-help. (Ladies and gentlemen, I restate that what this law has done is to circumscribe one of the fundamental human rights of the Nigerian people.)
28. Centralists versus Federalists
In reaction to opposition gains at the state level, the current Administration has embarked on a program to consolidate more power in the federal government. It seeks a constitutional amendment shifting the control over local government funds from the States to the federal government. This effort mocks federalism and is not endorsed by substantive logic except the logic of a naked power play. By controlling the finances of local governments, the federal government will acquire greater power while undermining state governments.
29. Another blatant encroachment against federalism is the establishment of the Sovereign Wealth Fund, (SWF). This is another instance where the international community has done Nigeria a disservice by applauding the Nigerian model of SWF. Under this set-up, the federal government uses as it wishes funds belonging to the States. As such, the mechanism violates the constitution. It is doubletalk for the international community to claim support for the rule of law in Nigeria then encourage the federal government to rupture the constitution. Our constitution mandates that revenues are completely allocated to the federal, state and local governments. The SWF amounts to an illegal confiscation of state and local funds by the federal government. If the SWF is allowed to stand, the federal government will be free to concoct subsequent excuses to withhold additional funds from the states. In time, federalism will erode because the fiscal independence of the States will become fiction.
30. Rule of Law: Where is it?
Demonstrating its preoccupation with remaining in power, the PDP government has engaged in a sustained attack against the rule of law. Starting with the Obasanjo administration to the present, its disregard for the judiciary and the rule of law has become the stuff of political legend in Nigeria. When confronted with an adverse judicial decision, the PDP government does what authoritarians do; they act as if the court does not exist and as if the decision was never made. This makes ruling much easier for them but makes democracy less real for the rest of us. If a judge has the temerity to deliver a few decisions in harmony with the rule of law but against them, our rulers do not accept this in good faith. They are prone to discipline the honest jurist. Thus, one year ago, the government suspended Court of Appeals President Salami because he had the courage to follow the law. Salami’s wrong was that he did right. Despite several panels of eminent jurists exonerating him of any impropriety, the government of Jonathan Goodluck has refused to respect the verdict of the law by reinstating him. An innocent and upright judge has been made to suffer. This shoddy treatment of a senior judge has a chilling effect on the rest of the judiciary. By effectively dismissing Salami, the government intends a strong caution to other judges: “Apply the law to us and you are in trouble. Do as we wish, your position on the bench shall be assured.”
31. This government cannot prosecute a war on corruption. To do so would require the government to mainly fight itself. That is why the EFCC, though being headed by a core professional and a team of experienced hands operates with little independent discretion. There is undue interference from the Ministry of Justice and the Presidency. Thus, cases are initiated but never finished. People are arrested but never effectively tried. Sometimes, they are let go with a only a slap on the wrist. It is mostly theatre and little fact. Someone recently quipped that the current administration has a unique way of minimizing corruption. It allows a choice few to make away with such a king’s ransom that everyone else who would consume at the government trough is forced into honesty because there is nothing left to take.
Additionally, the PDP government efforts at constitutional reform are confined to the aim of securing political power. They seek to abuse their majorities in the national and state assemblies to ram through amendments solidifying their grip on power. For instance, they are nursing an amendment proposing to rotate the Presidency among the nation’s six geopolitical zones so that during any given election only candidates from the anointed region can contest for office. I have referred to this as “Turn by Turn” politics. It is an untoward attempt to impose the PDP’s sordid interparty arrangement on the nation. The provision negates democracy. The people should always be afforded the right to vote for whomever they desire. Everyone should be allowed to contest for office and not be barred simply because their place of origin does not accord with someone else’s timetable.
32. We need to discuss our future, if necessary conduct a referendum on a number of issues that are germane to our future development. The idea that a ruling party can use its bogus majority in the National Assembly to tamper with the constitution and abrogate the right of Nigerians to vote and be voted for, to fair hearing alter the independence of the judiciary and promote division among the citizenry cannot chart a path to progress and development. Governance at the national level has veered too far off course. Tinkering around the constitution’s edges cannot provide the needed corrective measures. To most of us, the Jonathan Administration appears like the dazed captain using a teaspoon to bail water from his sinking vessel. We require a National Conference for two important reasons:
First, the present constitution was never established by the people. It is the handiwork of the military. A constitution that was forced on us does not have the requisite legitimacy needed for such a complex, diverse nation. The past thirteen years have revealed important flaws in the constitutional structure, namely the capacity of the federal executive to arrogate the powers of other governmental institutions. The exclusive legislative list is too large and overbearing. The states have suffered as a result. So have civil liberties. We need to drastically overhaul the constitution to provide for a more perfect federal system that restrains the ability of the federal executive to encroach on the prerogatives of other institutions and on individual liberties.
CONCLUSION
Nigeria has entered a troubling period. Government which is supposed to resolve the nation’s challenges now does the reverse. President Jonathan may have won the 2011election. However, since then, his errant policies have awakened the people to the grave mistake they made when they handed him the staff of office. If an election were held today, Jonathan would not win. To all Nigerians, his Administration has been a disappointment. If it continues as is, they will come to see it as a manifold disaster. By his policies; political and economic, the people believe he has turned his back on them, that he has broken the contract between the government and the governed. If given a viable alternative, they are more than ready to turn their back on him and his party. The opposition now is ready to provide that alternative.
Political competition in Nigeria is no longer primarily driven by personal rivalry or ethnic considerations. Democratic policy and principle drive the politics of my party. On one side, there stands the PDP and its governing aristocracy. Their vision for the nation is neither caring nor democratic. Their vision is to impress the vast majority into the service of small elite. They seek a Nigeria that is modern in appearance yet quasi-medieval in the relationship between the governing elite and the governed masses.
On the other side, stands the progressive opposition that seeks a more democratic, decentralized political structure as well as an open economy that creates more opportunities for those Nigerians who live below the crushing poverty line. Yet, Nigerians are not a sadistic lot. They know what they want and the kind of good governance such as we have in the six states controlled by the Action Congress of Nigeria they can deliver good governance. Nigerians will vote wisely but fear that an Independent Electoral Commission where card carrying members of the ruling party are appointed Resident Electoral Commissioners, (REC), will manipulate their votes.
I have no delusions. The task of developing Nigeria will be hard. The task of unseating the current party in power may even be harder. Yet, for the good of Nigeria, the opposition must persevere, the international community must support Nigeria in the renewed struggle to ensure the sanctity of the ballot box, foster respect for the rule of law and to build democratic and economic institutions that will endure. I thank you for listening.

pmnews.