Monday, 22 January 2024

Long before Betta Edu was recruited

 TheGuardian

By Alabi Williams
22 January 2024   |   3:50 am

Betta Edu

First national Chairman of the All Progressives Congress (APC), Chief Bisi Akande, appears to have forgotten that corruption has crippled the country. And that the reason they came on board as a political party in 2015 was to kill corruption. Yes, they may have done well for themselves and their families in eight and a half years, so they tend to forget the promises they made to the people. However, citizens don’t forget.

Baba Akande, who just celebrated his 85th birthday attempted some dialectics on corruption and why it’s difficult to deal with it. But it was a wasted exercise stripped of truth, simply because the motive was to exculpate political leadership from the embarrassing depth the APC has sunk Nigeria.

It was meant as a prologue to announce his birthday celebration. So, Baba engaged newsmen in a chat. Rather than explain why the ruling party failed to deliver the promises they mouthed in 2015, when they touted a non-existent capacity to defeat corruption, Chief Akande went beating about the bush and blaming ordinary citizens, the victims.

Hear him: “In Nigeria, corruption is not the first thing to fight, otherwise you get perished. The mindset is corrupt. The man who wants prosperity by miracles is corrupt. You want to own a car or house by miracles; you are already a corrupt man. In a country where everybody is corrupt, who is that leader, who will bell the cat? So, you are blaming the leader, but you are corrupt yourself. Go to religious circles, everybody wants comfort without work. The present generation doesn’t want to work. They want to get everything by miracle. Such a community can never be prosperous. No leader can make them prosperous. They will just be blaming government. A country where everybody is corrupt like Nigeria, nobody can solve the problem.”

When a frontline APC leader resorts to such rigmarole over dealing with corruption, then you know the country is in a deep mess and something urgent has to be done for retrieval. For those who may have forgotten, Baba Akande is not just a wannabe political leader, he’s been around. He is a disciplinarian on fiscal matters, brought up in the ascetic tradition patterned by the great Obafemi Awolowo. We’re referring to leaders who considered the people first and made sacrifices that ensured children went to school. In those days, they didn’t need to engage in definitions of how corruption came about. They dealt with it.

Natural progressives didn’t covet what belonged to the people; they used the resources to organise the people. The goal then, was to attain an egalitarian society, one that provides equal rights and opportunities for all. The party system then was a grooming platform to instill discipline across cadres of partisans; and the leader showed uncommon example. The leader’s children went to public schools like other children. The leader didn’t purchase homes in foreign countries. The leader’s children weren’t spoilt brats who display obscene wealth with impunity and luxuriate in high-end opulence that is not accounted for.

That was the humble beginning and, in those days, it was easy to identify, define and deal with corruption. Ordinary citizens didn’t need to steal, because they trusted their leaders. So, what has gone wrong?

In the first place, there is no substance in Baba Akande’s assertion that corruption should not be the first thing a leader must fight. In Nigeria, corruption is the first thing a leader must tackle if he wants to turn the fortunes of the country around. And that was what Chief Akande promised Nigerians when they sold APC to the people. They told Nigerians that if they did not kill corruption, corruption will kill Nigeria. Corruption has killed Nigeria.

Again, if citizens are pushed to flock religious circles because they are conditioned to trust such places in the hope to assuage government inflicted misery, isn’t that supposed to be food for thought for the ruling party? Rather than mock hapless citizens who are (mis)led to seek fortunes in unscientific circumstances, Baba Akande and APC should first apologise to 140 million Nigerians who were escorted by them into multi-dimensional poverty in just eight years.

The phenomenon Baba lamented did not exist in the days when there were job opportunities and the population was manageable.Worship places grew exponentially after textile companies and manufacturing outfits closed shop and their factories were converted to places of succour and empathy. APC’s eight clueless and planless years have worsened unemployment, making life extremely difficult for young Nigerians, especially those whose parents do not trade in politics.

Let’s even assume there are improprieties at worship places as is often alleged. It is the responsibility of government to deal with it and repair minds that are misfocused on earthly rewards without hard work and ethics. That’s why there’s government to deal with criminality and conscientise the citizenry.

It is also big a lie that this present generation doesn’t want to work. Nigerians love hard work. They do not wait for government. All they ask for is safe and favourable environment to be creative. Nigerian youths have done very well in all sectors. In the creative industry, they are number one in Africa. In ICT, they are among the best. It’s a shame that APC’s profiling of youths is always in the negative.

Former President Buhari was of the same uncritical mindset, that Nigerian youths are lazy. Coming from someone who has been on government payroll since he enlisted in the army as a teenager, till date, it’s most inconsiderate and unfair. But that’s APC for you.

In his August 1, 2023 engagement with Nigerians, President Tinubu also struggled to explain his approach to dealing with corruption. In the address titled ‘After Darkness Comes the Glorious Dawn’, whose focus was to preach why fuel subsidy must go, he claimed subsidy money was “funneled into the deep pockets and lavish bank accounts of a select group of individuals.”

On how to deal with the select group, he lamely said: “This group had amassed so much wealth and power that they became serious threat to fairness of our economy and the integrity of our democratic governance.”

He added: “Thus, the defects in our economy immensely profited a tiny elite, the elite of the elite you might call them. As we move to fight the flaws in the economy, the people who grow rich from them, predictably, will fight back through every means necessary.” Clueless demagoguery.

Since APC formed government, the volume of corruption transacted by political office holders has multiplied. As Nigerians can now testify with Emefielegate, the party was not founded to canvass any noble ideal, but to grab power and access resources. After eight years of Buhari plunder, another set of so-called progressives have taken over. Progressives who cannot fight corruption.

As corrupt as the Peoples Democratic Party (PDP) turned out to be, they at least knew how to tame corruption. Under President Obasanjo, Nuhu Ribadu’s Economic and Financial Crimes Commission (EFCC) brought governors and other big men down. Ribadu was fearless because there was political will to kill corruption. But as soon as APC won elections, Adams Oshiomhole invited hardened looters from other parties to come on board and their sins were forgiven.

Just last week, the EFCC announced it was reopening money laundering cases against 13 former governors and some former ministers. Those listed include two former governors of Ekiti State, Ayo Fayose and Kayode Fayemi; former Zamfara State Governor, Bello Matawalle; former governors of Enugu State, Chimaroke Nnamani and Sullivan Chime; former Governor of Nasarawa State, Abdullahi Adamu and former Governor of Kano State, Rabiu Kwankwaso. Others are, former Governor of Gombe State, Danjuma Goje; former Governor of Bayelsa State, Timipre Sylva and others.

These are not the tiny elite of the elite group Tinubu attempted to hide behind. Even the tiny elite have their patrons in government. However, Matawalle is serving in this government as Minister of State for Defence. Adamu, a former chieftain of PDP moved his trade to the APC and rose to become national chairman. President of the Senate, Godswill Akpabio still has his file with EFCC and a host of others whose antecedents are located in PDP. Under Buhari, their sins were forgotten. Some of the cases are as old as 15, 20 years. It might take another 20 years to secure justice for impoverished citizens.

Long before Betta Edu was recruited, APC had been a cesspool of corruption. Their party has never done anything without corruption. The management of the party is utterly corrupt. Their presidential and governorship primaries are corrupted and sold to highest bidders. Road contracts are awarded multiple times and they remain uncompleted.

The people who peddle hard currencies are political actors who collect monthly allocation from the Federation Account. Their wives and children love to spend dollar, they buy houses and go on holidays all over the world.

The bubble that burst in the Ministry of Humanitarian Affairs and Disaster Management was accidental. It was not designed to fight corruption. The president has tasked a panel to take a holistic view of the Social Investment Programme (SIP), promising there would be no sacred cows. A smart way to douse tension.

Why not allow the EFCC continue the investigations and publish the details of those who picked monies and for what contracts? Nigerians are watching.
Solution: In the African setting, the tag of corruption is a blemish of leprous magnitude, if not worse. It is accompanied by shame and odium. A sense of guilt and shame helps to train and tame the mind.

This APC has lost every sense of shame. That’s what their loathsome banters at book launches and birthdays represent, amid revelation of monumental thievery. But a thousand books cannot repair the damage. Let the Nigerian political party system return to the basis!

Wednesday, 8 November 2023

Lloyd's of London 'deeply sorry' over slavery links

BBC AFRIKA

In 2020, demonstrators gathered outside Lloyds of London to protest against institutions that profited from the slave tradeIMAGE SOURCE, GETTY IMAGES
Image caption, 
In 2020, demonstrators gathered outside Lloyds of London to protest against institutions that profited from the slave trade

City firm Lloyd's of London has said it is "deeply sorry" for its links to the slave trade.

An independent report found the 335-year-old insurance market had played a "significant role" in enabling the transatlantic trade. 

Lloyd's said it was committed to tackling inequality and will invest £40m in helping impacted communities.

But campaign groups accused Lloyds of "reparations washing" and said it needed to do more. 

After protests swept across the world in 2020 following the death of George Floyd, an unarmed black man who died in police custody in the US, pressure mounted on companies to address links to slavery and tackle racial inequality.

At the time, Lloyd's apologised for its historical links to the slave trade and commissioned the independent report.

It said it had no editorial control over the review, which was conducted by academics at Johns Hopkins University in Baltimore and independently funded by the Mellon Foundation.

Alexandre White, one of professors behind the study, examined material from the Lloyd's archive, including ledgers for insurance for ships leaving Liverpool as part of the slave trade.

He said it made clear that Lloyd's formed part of "a sophisticated network of financial interests and activities" which made the transatlantic slave trade possible.

But he said the material offered very little about the people who were "captured and enslaved under the practices facilitated by the Lloyd's market".

"While the activities of insurers in the city of London may seem far removed from the plantations, ships and the violent spaces of imprisonment along the coast of Africa, the financial architectures developed at Lloyd's helped maintain the institution of slavery," he explained in a video posted online. 

The transatlantic slave trade was the largest forced migration in history. Between 1500 and 1800, around 12-15 million people were taken by force from Africa to be used as enslaved labour in the Caribbean, North, Central and South America.

It is estimated that over two million Africans died on the journey to the Americas. 

"The insurance of ships, cargo and captured enslaved persons facilitated the growth of the transatlantic slave trade," said Mr White, concluding that customers of to Lloyd's, as well as members of its governing body, had "significant connections to the transatlantic slave trade".

Lloyd's of London, which was founded in 1688, is often lauded as the world's leading insurance market, focusing on specialist areas such as marine, energy and political risk.

Responding to the review, chairman Bruce Carnegie-Brown said: "We're deeply sorry for this period of our history and the enormous suffering caused to individuals and communities both then and today".

"We're resolved to take action by addressing the inequalities still seen and experienced by black and ethnically diverse individuals."

The firm has promised a "comprehensive programme of initiatives" to help people from diverse ethnic backgrounds "participate and progress from the classroom to the boardroom".

It also said it would spend around £12m on boosting BAME recruitment and career progression in the commercial insurance market. 

But Kehinde Andrews, Professor of Black Studies at the University of Birmingham, described the move as a "PR exercise" and "frankly offensive". 

"If they were serious they would be proposing a transfer of wealth to the descendants of the enslaved (i.e. reparations), not a diversity scheme for so called 'ethnically diverse' people, which any corporation should be doing," he told the BBC in an email.

The Runnymede Trust, a race equality think tank, welcomed Lloyd's work to acknowledge past mistakes. 

But it questioned the insurance market's commitment to diversity, highlighting Lloyd's ethnicity pay gap - which measures the difference between ethnic groups' average earnings.

"This gap needs to be addressed not just through more 'inclusion and diversity' but through active anti-racist policies that address inequalities in income and pay now," said Dr Shabna Begum, its interim co-chief executive. 

Sunday, 22 October 2023

Nigerians To Tinubu: Fresh $400m palliative loan works against pledge for economic recovery

 THE GUARDIAN

By Kingsley Jeremiah (Abuja) and Gloria Nwafor (Lagos)
22 October 2023   |   3:35 am

President Tinubu. Photo: Twitter

• FG borrows N4.1t in four months
• Public debt may hit N100tr soon
• Tinubu deepening mess created by past administrations — Labour

At a time Nigeria’s lawmakers are planning to buy vehicles worth N160 million, the move by the President Bola Ahmed Tinubu administration to borrow additional $400 million for palliative over subsidy removal has stirred anger in the country.

Labour unions, economists and civil society organisations (CSOs) were livid yesterday over the development, which is coming amidst expected windfall from the removal of subsidy on Premium Motor Spirit (PMS).

The $400 million would bring to $1.2 billion the amount the Federal Government is borrowing from the World Bank for the conditional cash transfer to vulnerable Nigerians as it had earlier secured a loan of $800 million for the same purpose.

Tinubu, who assumed office on May 29, 2023, immediately removed petrol subsidy, pushing the price to about N650 per litre from barely N200. He went further to float the naira, which caused spiraling inflation and deepened the exchange rate crisis, as the national currency now exchanges at N1,100/$ averagely in the parallel market.

The news of the government’s plan to borrow $400 million jolted many Nigerians, who were told that the removal of fuel subsidy would enable the government to save more money to spend on infrastructure and other necessities. But while the masses are still adjusting to life without fuel subsidy, the government, which has insisted that subsidy on petrol did not return, has already borrowed $1.95 billion between June and September 2023. The fresh $400 million loan alongside the $3 billion borrowed by the Nigerian National Petroleum Company Limited (NNPCL) will bring Tinubu’s external borrowing in about four months to over $5.350 billion. That is about N4.1 trillion.

Tinubu had taken a $700 million loan to expand the AGILE projects to 11 states. The international financial institution earlier in June approved the first loan of $750 million for Nigeria to boost the country’s power sector through the Power Sector Recovery Performance-Based Operation. Another $500 million loan has been taken under the Nigeria for Women Programme Scale Up (NFWP-SU).

With the increasing borrowing, each Nigerian is now owing above N400,000 as Nigeria’s indebtedness to the World Bank moved from $6.29 billion in 2015 to $13.46 billion in 2022. Nigeria’s total debt has jumped from N87.4 trillion in the second quarter of 2023 to about N91.5 trillion currently.

Tinubu had announced the conditional cash transfer to 15 million households in a nationwide address to commemorate the country’s independence on October 1 as part of measures to cushion the effects of the removal of subsidy on petrol, which has led to an astronomical rise in the cost of living and forced many to fall below the poverty line.

He also announced that the Federal Government would commence the payment of N25,000 monthly to 15 million households for three months from October to December 2023.

The current development, coupled with his bloated cabinet, high cost of governance and the over N160 million SUVs for Nigeria’s 469 lawmakers are projected to, in no distant time, push Nigeria’s debt beyond N100 trillion. Meanwhile, the country’s crude oil production remains low and the refineries are shut.

Most stakeholders do not believe that borrowing fresh $400 million from the World Bank is the right way to go at this time.

Ajibola,

Former President of the Chartered Institute of Bankers of Nigeria (CIBN), Prof. Segun Ajibola, said the money might go down the drain.

According to Ajibola, who is a Professor of Economics at Babcock University, Nigeria’s level of borrowing is already high as well as the attendant debt service burden.

Ajibola said unless new borrowing would achieve the intended purpose of empowering the households and raising their productive capacity along with that of the economy, it wouldn’t make sense.

“It is a palpable fear that the proceeds may be diverted to consumption at the household level. That may turn out to be money down the drain, thereby compounding the debt burden. The antidote to a likely diversion is, therefore, an organised and controlled disbursement scheme that takes into recognition the defined empowerment project, household by household.

“A herculean task though; but looking back (tradermonie of 2019), I hardly can think of a less cumbersome result-oriented disbursement template for the purpose of economically empowering Nigerian households,” he stated.

Director at Centre for Transparency Advocacy, Faith Nwadishi, said being an issue of government priorities and fiscal responsibility, the first choice of borrowing for conditional cash transfer wasn’t bad but the fact that the country is neck deep in debt is worrisome.

She insisted that the government also has no clear structures and strategies to ensure transparency in managing the borrowed fund.

“Buying cars at that humongous sum shows how unsympathetic the government is to the pain the people are subjected to on a daily basis and it’s is quite insensitive. On the whole, this further fuels citizens’ distrust of the government’s intentions,” Nwadishi stated.

The Organised Labour has also faulted the move, accusing the government of borrowing to fund the ostentatious lifestyle of its officials.

Kicking against the development, Deputy President of the Trade Union Congress of Nigeria (TUC), Dr. Tommy Okon, stated that borrowing money from the World Bank to share to vulnerable people as palliative is an enemy of any economy.

He noted that it was not a bad idea for the government to give palliatives to Nigerians through conditional cash transfers, but insisted that borrowing from the global bank to achieve the objective was an economic waste.

He said it would be okay if the government borrows for productive ventures, which would lead to greater expectations because it is an investment.

“Borrowing money to give to the people as palliative is an enemy of any economy. How will you pay back? If the government is borrowing money for productive ventures, it means there is an expectation, which is an investment but when you borrow to give out it is expenditure, where there is nothing to expect.

“What the government is doing could amount to doing exactly what the previous administration did that yielded no positive impact on the economy and the citizens. As far as I am concerned, it is economic waste.

“The socio-economic challenges are enough reason for the government to sit and look inward towards solving the problem in-house, rather than borrowing. The analysis by the World Bank is annoying because they don’t look at the insecurity in Nigeria or ethnic clashes in Nigeria; rather they use them to paint the country in bad light. Nigeria’s problems can only be solved by Nigerians where you have a purposeful leader who is transformational in action,” he said.

The President and General Secretary of NLC, Joe Ajaero, and Emma Ugboaja, could not be reached, but a senior official of the Congress who spoke on condition of anonymity, stated that there is no justification for any fresh borrowing.

He alleged that the past administration put the country in its current mess and the present wants to deepen it.

“They are busy spending the money on themselves. It is a dilemma that we have intentionally pushed ourselves into. There is no justification for borrowing but for greed and selfishness.

“When you also look at what he has planned, to give N25,000 to households for three months which approximates N75,000, you ask yourself, can N75,000 address the millions of suffering the government has already inflicted on the poor? Will it make any significant impact in addressing the consequences already being faced by Nigerians? Will the suffering suddenly end after six months?” he queried.

Charting the way forward, the source said: “Government has to address the issues on the cost of governance, reduce wastes and create an enabling environment rather than expanding ministries to give room for more ministers and aides.”

Similarly, General Secretary of the Non-Academic Staff Union of Educational and Associated Institutions (NASU), Peters Adeyemi, said: “Any effort geared towards the alleviation of the present hardship Nigerians are going through as a result of the removal of subsidy and the harmonisation of the exchange rate markets should be supported.

“However, we need to know the criteria to be used in determining those that will benefit from the programme. We hope that this will not be another avenue for a few individuals to divert such money to their private pockets.”

Also, the Chief Executive Officer, Centre for the Promotion of Private Enterprise (CPPE), Dr. Muda Yusuf, said although vulnerable segments of society deserve palliatives, the framework must be inclusive and transparent.

“The vulnerable segments of the society deserve palliatives to mitigate the pains of recent reforms, especially the surging inflation. However, the palliative framework must be inclusive and transparent.

“We would additionally want to see concessions in taxation and import duties focusing on moderating food prices, energy costs and transportation costs. Palliatives must go beyond cash transfers. There are serious limitations concerning data integrity.”