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2023: Adebanjo Reveals Why Afenifere Will Not Support Tinubu, Atiku’s Presidential Aspiration

By
Akinwale Kasali
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By Akinwale Kasali

Chief Ayo Adebanjo, leader of Pan Yoruba Socio-Political Group, Afenifere, has disclosed, and clarified the position of the Group’s support for the Labour Party’s candidate in the 2023 general election, Peter Obi.

The elder statesman stated that the Group has already taken a position why it won’t support the candidature of All Progressives Congress, APC, Presidential Candidate, Bola  Tinubu, and the Peoples Democratic Party’s candidate, Atiku Abubakar.

In a statement signed by Adebanjo on Monday, September 26, 2022, the Afenifere leader said the group stood on justice and fairness and believed in true federalism and the Federal Character principle.

Responding to the backlash that followed his announcement of the group’s support for Peter Obi in the 2023 Presidential election, Adebanjo said, “…not a few Yoruba leaders questioned why I should be supporting Peter Obi, a candidate of Igbo extraction, against Asiwaju Bola Tinubu, a Yoruba. I took my time to explain that the Presidency is not a contest between the Yorubas and the Igbos and to a large extent I was able to convince many.

“But ever since, social media has been filled with comments tending to ethnicise the campaign instead of making it issue-based. Afenifere has, therefore, decided to address you today and through you educate the public on the ideological and equitable principles which have influenced our decision.”

Adebanjo stated that Afenifere “is the Yoruba interpretation of the social welfarist ideology of Action Group, a political party founded by Chief Obafemi Awolowo and his colleagues in 1951 with strong advocacy for federalism as the best form of Government to give the federating units the requisite autonomy to thrive and peacefully compete among themselves for the ultimate development of Nigeria.”

Stating the ideology of the Afenifere, Adebanjo said that other founding fathers of Nigeria —  Sir Ahmadu Bello, Dr Nnamdi Azikiwe, and Chief Obafemi Awolowo — agreed to the system with the endorsement of colonial Secretary Sir Oliver Littleton in 1954 “and embodied in the 1960 independence constitution. This is the modest contribution of Afenifere in shaping Nigeria into a federation where no person or ethnic nationality is oppressed.”

He added that Afenifere has always advocated and insisted on restructuring of the country “long before the Parties conducted their Conventions to elect their National Executives and candidates,” and had proposed “a synthesis of the identical Resolutions of the 2014 National Conference and the APC El-Rufai 2018 True Federalism Committee.”

Adebanjo said Afenifere and the Southern and Middle Belt Leaders Forum “unanimously proposed that the minimum condition for a peaceful transition from the disastrous eight years of Buhari’s government headed by a President of northern extraction was to have the next President from the South,” a position which, he said, was supported by Southern Governors irrespective of their political parties.

“In this quest for peace, based on equity and inclusiveness, the Yoruba took the first turn at the zoning arrangement in 1999, and that led to the emergence of Chief (Olusegun) Obasanjo, the current Vice President is a Yoruba man and equity forbids us for presuming to support another Yoruba person for the presidency in 2023.

“The current President is a Fulani from the North-West and by virtue of the zoning arrangement that has governed Nigeria since 1999, power is supposed to return to the south imminently.

“The South-West, as I have pointed out, has produced a president and currently sits as VP, the South-South has spent a total of six years in the Presidency, but the Igbo people of the South-East have never tasted Presidency in Nigeria, and now that the power is due back in the South, equity demands that it be ceded to the Igbo.

“We cannot continue to demand that the Igbo people remain in Nigeria, while we at the same time continue to brutally marginalise and exclude them from the power dynamics.”

Adebanjo, therefore, condemned the ceding of the PDP Presidential ticket to “a Northern Fulani Muslim to succeed General Muhammadu Buhari, another Fulani Muslim, who will soon complete eight years of uneventful and disastrous rule. One can imagine such a high degree of political insensitivity.”

The Afenifere leader also stated that the group would not jettison equity, inclusiveness and justice just because one of their own — Asiwaju Bola Tinubu — was in the contest.

“We will not compromise this principle of justice, equity and inclusiveness because one of our own Asiwaju Bola Tinubu is a frontline candidate,” Adebanjo said.

Adebanjo, who said Afenifere had “no apologies but due courage of our conviction that Nigeria can only prosper in righteousness,” reiterated that, “To keep Nigeria one, everyone should be Obi/Datti compliant,” and advocated that that should be the slogan henceforth.

Gov Akeredolu, Deji Of Akure To Receive National Honours

By
Ayodele Oni
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Akeredolu and Deji of Akure

By Ayodele Oni

Ondo State Governor, Mr Oluwarotimi Akeredolu, SAN, and the Deji of Akure, Oba Aladetoyinbo Aladelusi, have been listed among those that will be honoured with  the 2022 National Honours Award.

Governor Akeredolu will be conferred with the award of the Commander of the Order of the Niger, CON, while Oba Aladetoyinbo will receive Commander of the order of the Federal Republic, (CFR) from President Muhammadu Buhari.

This was contained in a letter from the Federal Ministry of Special Duties and Inter-Governmental Affairs signed by the Minister, Senator George Akume.

The Minister in the letter, which read in parts, said: “I have the honour to formally inform you that the President of the Federal Republic of Nigeria, His Excellency, Muhammadu Buhari, GCFR, has approved the conferment of the National Honours on you, in the rank of CON (Commander of the Order of the Niger).

“The investiture ceremony is scheduled to take place at the International Conference Centre (ICC), Abuja on Tuesday, 11th October 2022 at 9:00 am.”

According to the Chief Press Secretary to the Monarch, Mr. Michael Adeyeye, who confirmed the receipt of the conferment letter signed by the Minister of Special Duties and Inter-Governmental Affairs, Senator (Dr.) George Akume said that the Deji of Akure Kingdom would join other prominent awardees, who had been found worthy of such National Honours by the Federal Government.

The 2022 National Honour Award letter signed by the Minister reads, “I have the honour to formally inform you that the President of the Federal Republic of Nigeria, His Excellency, Muhammadu Buhari, GCFR, has approved the conferment of the National Honours on you, in the rank of CFR (Commander of the Order of the Federal Republic).”

“The investiture ceremony is scheduled to take place at the International Conference Centre (ICC), Abuja on Tuesday 11th October, 2022 at 9:00am.”

The National Honour is coming almost a year after the appointment of the First Class Monarch as the Chancellor of the Federal University of Technology, Minna by President Buhari.

Oba Aladetoyinbo, who holds a Master Degree in Architecture from the Morgan State University, Maryland USA, is the current Chairman of the Ondo State Council of Obas.

Ondo: PDP, Akeredolu Exchange Words Over Use Of Field For Reception

By
Ayodele Oni
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0

By Ayodele Oni

The Peoples Democratic Party (PDP)  in Ondo State has accused Governor Oluwarotimi Akeredolu of frustrating a reception being organized to receive one of his former Commissioners that defected to PDP.

The former Commissioner, Mrs Yetunde Adeyanju, resigned her appointment after a cabinet reshuffle two months ago, which saw her redeployed from Ministry of Water Resources to Lands.

PDP claimed that she was to be officially received in the fold at an event scheduled to hold at Government Field on Monday.

According to PDP, Governor Akeredolu ordered that the Field should not be made available for the use of the party, a claim which has been denied by the Government.

PDP, in a statement by its Spokesman, Kenedy Peretei,said it  “condemns in strong terms the directive of the Ondo State Governor, Rotimi Akeredolu to deny PDP the use of Government Field Ore to receive Mrs Yetunde Adeyanju into the PDP.

“As preparations were on top gear for the event, the Area Commander arrived to disperse leaders and party supporters as directed from above.

“There is no doubt, Akeredolu is jittery that his party, APC, having performed very woefully will be disgraced at the 2023 general elections.

“This level of high handedness and abuse of public office will not save Akeredolu and his party from failure.

“Mrs Yetunde Adeyanju, the immediate past Commissioner of Water Resources resigned from Akeredolu’s Government two months ago.

“The Governor cannot stand his former Commissioner joining the PDP just 48 hours before the commencement of Campaigns.

“Our party advises Mr. Governor not to allow his fears about failure becloud his reasoning, as this will consume him. Government Field, Ore, does not belong to him but the people of Ondo State.”

But the Chief Press Secretary to the Governor, Richard Olatunde, in a reaction, stated that: “The fruitless attempt to blackmail Ondo State Governor, Arakunrin Oluwarotimi Akeredolu,SAN, by the PDP is a missed goal.

“The PDP allegation that Governor Akeredolu ordered that the Ore Government Field be made unavailable for its reception rally has further exposed the PDP as an unorganized party with no knowledge of the structures of Government.

“It is important to educate the drowning PDP that the approval for the use of such venue doesn’t reside with the Governor.

“The venue in question is not under the control of the State Government. The Field is under the administration of the Local Government Council.

“In clear terms, Governor Akeredolu knows nothing about the alleged refusal of the use of the field. The Governor doesn’t run the Local Government Councils for the Executive Chairmen.

“Governor Akeredolu is one Governor that has utmost respect for the Local Council Tier of Government.

“Meanwhile, reports from the Local Government Chairman revealed that the PDP didn’t inform the Council of their intention to use the venue today.

“It is most illogical for the PDP to raise false alarm even when it’s aware that it has failed to follow due process on the use of the venue.

“This failed blackmail is another calculated attempt by the PDP to seek undue attention. Governor Akeredolu is busy with the business of government and will not be distracted by the attention seeking gimmick of the PDP.

Gov Akeredolu Says Carrying Of Arms By Amotekun Will Be Done In Compliance With Law

By
Ayodele Oni
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Amotekun in Ondo State

By Ayodele Oni

Ondo state Governor, Mr Oluwarotimi Akeredolu,SAN, has clarified that arming Amotekun Corps will be done in compliance with the law.

He pointed out that the state owned security network must be allowed to bear the tools and the most sophisticated weapons available to fight back against marauders committing crimes against humanity.

Governor Akeredolu, who spoke on Monday at the passing out of another personnel of Amotekun in Akure, explained that the incontestable authority of the state must be imposed in the country which is under threat by brazen conflict entrepreneurs and armed, audacious non-state actors.

He stated that the State Security outfits backed by law whether in the Western Nigeria, Katsina, Borno, Benue or any Northern State must have access to the same sophisticated weapons that the marauders have.

The Governor assured that his administration will continue to support the operational capacity of all security agencies in the State both in terms of equipment and the welfare of their personnel.

Governor emphasized that the passing out ceremony is a reminder of the need to strategize and tackle the current security situation, which he said has been left to snowball into existential crises across Nigeria.

He assured that the commitment of his administration to the safety and welfare of the people of the State and investors remains unshaken.

Governor Akeredolu charged the new officers to do nothing that will soil the image of Amotekun Corps, adding that much is expected from them.

“The key guiding principles which you must adhere to at all times include spartan discipline, zero-tolerance to bribery and abuse of power, prompt response to distress calls and display of professionalism in the discharge of your duties. No form of misconduct shall be tolerated.”

 According to him, the current internal security framework in the country is ineffectual, and submitted that the response of the sub nationals by setting up their own outfits is welcome, necessary, and has become indispensable.

”The Western Nigeria Security Network, AMOTEKUN CORPS, as a response, is now not just the first line of defence, but the ultimate bulwark in the protection of a way of life and of a civilization.

“The efforts of our determined and valiant Amotekun personnel since inception must be underscored, encouraged and highly commended. We must all rise at this time to acknowledge their efforts.

“On our parts, we will continue to support the operational capacity of all security agencies in the State both in terms of equipment and the welfare of their personnel.

“The recent donation of 50-fitted patrol vehicles is a testament to our resolve to be up-to-date in fighting crime and criminality because without a secured environment, there can never be visible and sustained development.

“The Amotekun Corps must be given the tools to carry out its now pivotal, indispensable duties. For centuries, we have been admonished that “a bad workman blames his tools,” in the case of Amotekun Corps the workman is expected to function without good tools.

“It is not only absurd, but also a dereliction of duty and a cause of disaffection. Dissatisfaction is induced by a feeling of unfairness.

“The crises in the conventional wisdom is life-threatening and nationwide. Therefore, it is unacceptable if the state sanctions differing rules of engagement for different sub-national governments.

“Without providing the sub-national security forces to be a counter-balancing force, we have a crisis which strikes at the heart of the conception and the definition of the state itself. It is not just the definition of the State, the State itself is under existential threat.

“The modern state is defined by Treaties. The conception of the modern state beatified by these treaties gives it “an incontestable monopoly of the means of violence, intimidation and coercion.”

“Those passing out today have undergone rigorous training at great expense to the state. The training will not end here it will be continuous.

“However, no amount of training will mask the debilitation of fighting with one arm tied against implacable foes.

“Amotekun must therefore be armed and will be armed and be backed by law. Otherwise, the training will be inadequate and we will be placing the lives of these great patriots in danger.”

Gov Akeredolu’s Performance As NBA President Remains Benchmark – Maikyau

By
Ayodele Oni
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Rotimi Akeredolu and Chief  Maikyau - NBA Chairman

By Ayodele Oni

The Nigeria Bar Association, (NBA) has described Ondo State Governor, Oluwarotimi Akeredolu, SAN, as a shinning example to the legal profession.

A statement by the Chief Press Secretary to the Governor, Richard Olatunde, stated that the NBA delegation, led by the president of the association, Chief Yakubu Maikyau, SAN was in Akure on condolence visit to the Governor on the death of his mother, Evangelist Grace Akeredu.

Chief  Maikyau said the Bar is very proud of Governor Akeredolu, stressing that the Governor has charted a course for the members of the Association to follow.

The NBA President disclosed that Governor Akeredolu is the benchmark for judging president of the association, describing him as a role model that has shaped the attitudes, professionalism and courage of the NBA.

The NBA President said: “Governor Akeredolu, Our uncle, our big brother, past President of the NBA, of course, is the only Governor today that has passed through that route, that has excelled in his chosen career of law and that went ahead to lead the Nigeria Bar Association, with courage, boldness and purposefulness that nobody can deny in this country.

“These are the attributes that you, Mr. Governor, have brought into this office that he you occupy today.

“There are people who may want to say that, of the 36 Governors in this country, they probably did not know who are Governors in other states.

“But they cannot say so for the Governor of Ondo State. And that is why we, in the NBA, are very very proud of you.

“We are very very proud of you. You have charted a course for us to follow. You continue to remain that reference point for us as members of the Nigeria Bar Association.

“And to some of us that are privileged to tread on that path you have once been, and where you also led creditably, you are a source of inspiration. You are a source of courage to us.

“You are actually the benchmark for which we judge who has done well as a President of the Nigeria Bar Association.

“We have a role model that can shape our attitudes, that can shape our professionalism, that can shape our courage and boldness to aspire to that particularly office.

“So, my big brother, our President, I call him the President of all presidents, my prayer is that the almighty God will comfort you and the entire family and all of us that are children of Mama affected by this great loss.”

Chief Maikyau, who also described himself as one of the Children of the Late Mother of the Governor, Evangelist Grace Bosede Akeredolu, stressed that Mama’s children are beyond the territory of Ondo State but all over the country and the world.

“Your Excellency, you are not the only  child of mama in this room today. I’m from Kebbi State. By the special grace of God, I’m one of the children of Mama.

“Honestly, there are many children of Mama that go beyond the territory of Ondo State. They are all over the country and also across the globe because of what Mama represents during her lifetime.

“I’m deliberate about using that present tense because Mama merely slept. When somebody is sleeping, you don’t refer to him or her in the past tense.

“Mama is alive, Mama has merely slept. I can draw strength from the Scripture that tells us that when one moves from this side of the eternity to the other realm, that such a person merely slept. There is a certain day that such person will wake up.

“Mama is one that we are sure that by the integrity of God’s words that will wake up some day at the appearance of our Lord Jesus Christ.

“So, I have come not to mourn will you but to just bring words of comfort to you because our parents can never be too old to stay back with us.

“We all miss the physical fellowship we had with Mama. There are things, perhaps, you had wanted to discuss with Mama but her physical absence has robbed you of the opportunity of doing so.”

“I have come to celebrate with you that Mama has left this side of eternity in terms of her physical presence. I have come to celebrate with you for the fact that Mama lived well, and to underscore that fact that I’m also Mama’s child,” he added.

Governor Akeredolu thanked the NBA President for the visit and congratulated him on his deserved victory as the President of the Bar.

The Governor also commended the courage of the NBA President for speaking up against the intrusion into  the house of a Court of Appeal judge, Ita Mbaba, in Kano, Kano State.

Governor Akeredolu urged the Bar President to continue to be the voice of the people.

“We must continue to prosecute our conviction with courage. We need a Bar that is courageous. And you have shown it.”

On his late mum, Governor Akeredolu said: ”Our mother lived to a ripe age of 90. We have picked a date, November 10, 11 and 12. We will thank God the best way we can. For me, it is for us to thank God for his grace. This is a Graceful exit of Grace. We will celebrate her.”

FG Orders Reopening Of Universities, Commencement Of Lectures

By
Akinwale Kasali
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ASUU Meeting

By Akinwale Kasali

The Federal Government has ordered public University Vice Chancellors to re-open schools and allow students resume lectures.

This was made known in a letter signed by the Director, Finance and Accounts of the National Universities Commission, NUC, Sam Onazi, on behalf of the Executive Secretary of the Commission, Professor Abubakar Rasheed.

The letter which was made  available to The Puncch on Monday was addressed to all Vice Chancellors; Pro-Chancellors and Chairmen of Governing Councils of Federal Universities.

“Ensure that ASUU members immediately resume/commence lectures; Restore the daily activities and routines of the various University campuses”, the letter partly reads.

It would be recalled that last week, the National Industrial Court of Nigeria ordered the Academic Staff Union of Universities to call off its ongoing nationwide strike.

ASUU had been on strike since February 14 to press home the demand for improved funding for Universities, a review of salaries for Lecturers, among other issues.

Several meetings between ASUU and the Federal Government ended in a deadlock.

Consequently, the Federal Government went to court to challenge the strike.

The Government through its Counsel, James Igwe, prayed the Court for an interlocutory injunction restraining ASUU from taking further steps as regards the strike, pending the determination of the substantive suit.

 Igwe on Wednesday prayed the Court to order the striking Varsity Lecturers to, in the interim, return to work, pending the determination of the substantive suit before the Court.

He maintained that the matter was not only urgent, but of great national interest as millions of students have been at home for over seven months.

“Sections 47 of the Trade Dispute Act, TDA, gives your lordship the power to direct that no worker should continue to embark on strike pending when the applications are heard and determined,”,

Igwe argued.

Igwe said there was need for the matter to be expeditiously determined to enable university students to return to school, adding that failure to call off the strike would cause irreparable damage to not only the students but also to the nation.

According to him, since the dispute between FG and lectures was already before the court for adjudication, it would be proper and in the interest of justice for the strike to be suspended.

In his ruling, Justice Hamman held that the application was meritorious and deserved to be granted by the court.

Igwe told the Court that the strike action was detrimental to Public University students that cannot afford to attend private tertiary institutions.

“The balance of convenience tilts in favour of the applicant.

“I hold that this application is meritorious and this application is granted”, Justice Hamman ruled.

The court, thereafter, issued an order, restraining ASUU, “whether by themselves, members, agents, privies or howsoever called, from taking further steps and doing any act in continuance of the strike action, pending the hearing and determination of the suit filed.”

ASUU had since filed 14 grounds of appeal to challenge the order through its Counsel, Femi Falana, SAN.

APC Presidential Campaign Council Defends Inclusion Of Nnamani As Member,  Promises More Members

By
Ayodele Oni
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Chimaroke Nnamani

By Ayodele Oni

More members are to be appointed into the Presidential Campaign Council of the ruling All Progressive Congress, (APC), apparently following complains and protests, especially from Governors.

Some Governors have protested that names of their nominees were not included in the list containing over 400 members released last week.

The Council also clarified the inclusion of Senator Chimaroke Nnamani’s, a member of People’s Democratic Party, (PDP) name in the list, saying it is not a mistake.

Director Media of the APC Presidential Campaign Council, Bayo Onanuga explained in a statement on Monday that the current list is a partial one.

According to him, “The Presidential Campaign Council of the All Progressives Congress hereby clarifies that the list of members of the campaign council released at the weekend, is a partial list.

“It contains only the directors, deputy directors, secretaries of directorates and key stakeholders.

“The council also assures our esteemed governors that the secretariat  of the council has not jettisoned the names  submitted by them.

“Some of the nominees of our governors have emerged as part of the leadership, while others will soon emerge as members of the various directorates.”

Onanuga quoted PCC Secretary, James Faleke as saying that “No name is left out of the lists.”

Onanuga pointed out that “The PCC will also want to clarify that the appearance of the name of HE Chimaroke Nnamani, a distinguished senator from Enugu State, was not a mistake.

“He is on the list in his own right as a supporter of our presidential candidate, Asiwaju Bola Ahmed Tinubu.

“Distinguished Senator Chimaroke Nnamani, who is still away in the United States,  is a very close  friend of Asiwaju Bola Ahmed Tinubu.

“He may not be on the field with us as a PDP senatorial candidate in Enugu East, but his presence is indicative that he may have chosen to give  ‘moral support’  to his old-time friend and brother.

“In any case, the PCC cannot dictate the extent of Senator Nnamani’s support for his friend and brother. That is part of his fundamental human right which supersedes any provision in a Party Constitution.

“His position and allegiance to his party is self-defining and does not need any qualifying by us.

“Any explanation as to his status should be coming from the other party and not from us who are very proud to be associated with him.”

N48bn Contract: Clark Backs Tompolo

By
Tosin Olatokunbo
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Edwin Clark, Ijaw National Leader and elder statesman has slapped those opposed to the N48 billion oil pipeline protection awarded to repentant militant, Government Ekpemepulo aka Tompolo.
The multi-billion contract was awarded to a company in which Tompolo has interest, and has equally generated mixed feelings from not a few Nigerians.
Apart from the opposition coming from other militants in the oil-bearing region such as Asari Dokubo, leader of Defunct Niger Delta Volunteer Force, that the contract should be shared, not a few Nigerians have slammed the federal government for awarding a very sensitive contract of protecting the nation’s oil assets to a private firm.
The federal government in its response to the criticisms said the firm will complement the efforts of security agencies in the country to end oil theft and pipeline vandalization in the country.
Clark said in a statement on Sunday, that pipeline protection contact should not be subjected to bickering, particularly as its affects the indigenes of the Niger Delta region, saying his peoples have the capacity to protect the oil assets in the region.
According to him,“The unpatriotic elements should realize that there is nothing wrong in awarding contracts to any capable Niger Deltan, especially to protect oil and gas assets that are situated in their backyards,” he said.
“Similar contracts have been awarded in the past to individuals, I do not understand, therefore, why the Tompolo case is made to look as if it is the only one.”
“The beneficiaries of the contract are bonafide sons of the Niger Delta, who are committed to the peace and stability of the region and the country.”

The elder statesman praised the Bayelsa State Governor, Douye Diri, for trying to find an amicable resolution among the militants to the surveillance contract awarded to Tompolo.

Meanwhile, Governor Diri and the leadership of the Ijaw National Congress jointly resolved the disagreement among Ijaw sons over the oil pipeline surveillance contract.

A peace meeting to settle the feuding parties was convened at the instance of Diri, who presided over the parley alongside the President of the INC, Prof Benjamin Okaba, in Yenagoa at the weekend.

The meeting also constituted a five-member monitoring committee to follow up on the successes of the parley in the interest of peace, unity and stability of the Ijaw nation and indeed the Niger Delta.

Last week, the chief executive of the Nigerian National Oil Company, NNPC Mele Kyari said over 700,000 barrels of crude oil is stolen in the country daily.
The value of the stolen crude is estimated at over $7 million, experts say.

SEC Proposes 10yrs Imprisonment For Ponzi Schemes Operators

By
Tosin Olatokunbo
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0

Proposed bill against Ponzi schemes in the country by the Security and Exchange Commission, SEC prescribes a 10-year jail term for operators, the magazine has learned.

If passed by the National Assembly, the Investments and Security Bills, ISB will also reduce the activities of Ponzi schemes operators, SEC, has said.

“Ponzi schemes operate with unsustainable operating models that ultimately lead to huge losses for investors. Following the collapse of the MMM Ponzi scheme, the Nigerian Deposit Insurance Corporation (NDIC) had estimated that over 3 million Nigerians lost about N18 billion Naira.

“ Several other illegal investment schemes have cost Nigerians their assets and life savings,” SEC said last year.

According to checks by the magazine, the harsh economic situations in the country have exposed not a few Nigerians to speculative and dubious schemes.

A report by Norrenberger Financial Investments, said in the last five years, about N300 billion have been lost to Ponzi schemes in Nigeria.

The potential of losing their money has however not stopped many Nigerians from investing in such schemes this year. Experts say the figure is likely to rise this year as more Nigerians seek to escape the economic headwinds.

But, the Director General of SEC, Lamido Yuguda said the proposed legislation seeks to tackle the hydra-headed problem of Ponzi schemes where Nigerians lose their hard-earned money.

He urged the National Assembly to ensure the quick passage of the bill, which according to him will boost the economy.

Yuguda disclosed this in a statement on Sunday in Abuja, saying the target of the bill is to grow the nation’s financial sector.

He explained that the bill will also enhance the competitiveness of the nation’s capital market, as well as boost the diversification efforts of the federal government.

Yguda said “the bill introduces an express prohibition of Ponzi/pyramid schemes as well as other illegal investment schemes.

”The bill also prescribes a jail term of not less than 10 years for promoters of such schemes.

”It expands the definition of a Collective Investment Scheme to include schemes offered privately to qualified investors.

”Minor reviews on various sections of the extant law have been carried out to provide greater clarity.”

Opinion: What Nigeria Needs In 2023 And Beyond

By
James Orji
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By Yemi Farounbi
As I sat to think of my dear Nigeria, that chose in 1960 to share my October 1 birthday with me, five statements by eminent persons all over the world came to my mind.
Let me share them with you.
First, Hugh Gatskell, a former leader of British Labour Party, once asked, “Would you asked those who helped you to build a house that collapsed to come and help you rebuild it?”
It’s only in Nigeria that a contractor that helped to build a house that collapsed will confidently step forward to offer to rebuild the collapsed house.
Secondly, I remember Oliver Cromwell. His famous words reechoed in the hallowed chambers of British House of Commons.
Hitler’s forces were sweeping in victory after victory across Europe. Neville Chamberlain’s appeasement policy has failed and greatest insecurity was staring Britain in the face, just as it’s staring Nigeria in the face.
Leo Amery stood up and faced Chamberlain and referred as Cromwell did, “The old decaying self-serving men, who have sat for too long for any good they have been doing. In the name of God, depart.”
Thirdly, there’s one character called Geoffrey St Clair in Joy Fielding’s novel titled TRANCE. In Geoffrey’s words: “We are tired of all the sloth masquerading as progress. We are tired of all the imbecilic chatter about freedom and democracy like so many school children.
“Once these people get into power, they stay for decades…Tired generations of useless leaders, so ingrained into our system, you can never get them out.”
Doesn’t that look like Nigeria that has so much recycled men of yesterday that have left us a Nigeria that looks more like a nightmare than the country of our collective hopes and dreams.
Fourth, there was Woodrow Wilson, who later became American President. What he said would interest you because it aptly describes Nigeria of today.
In his words: “These gentlemen have been so intimately associated with the powers that have been determining the policy of this government for almost a generation, that they cannot look at the affairs of the country with the view of a new age and of a changed set of circumstances.
“They sympathize with the people; their hearts no doubt go out to the great masses of unknown men in the country; but their thought is in close, habitual association with those who have framed the policies of the country during all our lifetime……
“We do not deny your integrity; we do not deny your purity of purpose; but the thought of the people of the United States has not penetrated to your consciousness.
“You are willing to act for the people, but you are not willing to act through the people. Now we propose to act for ourselves.”
Wilson ended by saying: “I am not interested in the man who has been made but the man on the make… who never had their voices heard, never got a line in the newspaper, never got a moment on the platform, never had access to the ears of governors or presidents.”
That was Woodrow Wilson speaking in 1914. Doesn’t that sound like Nigeria of 2022?
Fifth, there was Bill Clinton. In his debate with President Bush, he said: “It’s lunacy doing the same thing over and over again and expect different results.”
This is Nigeria where we repeat the same things, the same ideas, the same people mouthing the same promises and expecting different results. Aren’t we what Tola Adeniyi called THE LUNATIC? These eminent persons have described for me Nigeria as I see it today. So what next?
Our situation today demands for a new beginning, a spiritual rebirth, a new identity, indeed a renewal of our country based on NEGOTIATED CONSENSUS. Our situation needs MEN OF VISION, NOT MEN OF EXPERIENCE. It’s obvious that we can no longer relying our past structure, systems, formulas, methodology and actors.
We need those imbued with vision and idealism of a greater, better alternative tomorrow that the 1999 Constitution cannot deliver.
We need those committed to the five essential freedoms… Freedom of speech, expression and press …. Freedom of every Nigerian to worship god in his/her way and convenience…. Freedom from want, need, disease and poverty…. Freedom from fear, insecurity, banditry, and criminality…. Freedom from tyranny at all levels.
We need those who are not led by the mobs, but who will offer leadership to the people while also recognizing the genuine religious and ethnic fears and tears of the people.
We need those patriotic enough to challenge the future and challenge the centralised federal presidential structure that the Muritala Administration imposed as a NO GO AREA through the 1977 Constituent Assembly.
We need certainly not men of experience…. because the experience either maltreated or misled us…. the experience humiliated, marginalized, brutalized, factionalized, fractionalized and misdirected us.
We have the ability to change, to move forward, to chart a course towards a future of greater possibilities and opportunities.
We must not be afraid to march on until every ghetto of socioeconomic depression is wiped off.
We must struggle until all the traces of inferior or poor education are dissolved.
We must march on with all energy at our disposal ON POVERTY until no hungry man walks our streets, looking for jobs that are no longer there.
We must march on until all industries are revitalized, new SMEs established and our CURRENCY strengthened.
We must show a commitment to empower the needy, the oppressed and the poor.
We must show a determination to wipe out those who destroy our banks, industry, economy, our well being and our country.
But then you will say, ‘thank God there will be elections in 2023’. And I will say, very sadly, that, based on the present peculiar 1999 Constitution, not a product of our NEGOTIATED CONSENSUS, I’m not excited.
Perhaps we need an interim arrangement that will birth a NEW CONSTITUTION, based on a NEGOTIATED CONSENSUS.
Would we have the courage to do the right thing? Or would we continue to do the same thing over and over again and expect different results?
•Being a speech delivered by Dr. Yemi Farounbi OON, Nigeria’s former Ambassador to the Philippines, at Tunde Odunlade Arts Gallery, Bodija, Ibadan, under the auspices of Gabriel Victoria Foundation, on Sunday, 25 September, 2022
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