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That Wednesday morning, the chickens came home to roost. Our governments don’t think methodically. Often they explain away consequences as inevitable. That was how our naira crashed and plunged everyone into deeper poverty. Good policies that are poorly thought through and implemented erratically. This time, there was no wiggle room. 

They would like to tell us what could have happened if the bridge was not fixed. Cars would have eventually fallen into the sea. So we must endure whatever comes with the repairs, no matter how inept. They would like to say the economy was more fractured than that bridge. But they won’t mention that a properly planned closure of the bridge will begin with better traffic enforcement on the alternative routes to mitigate the consequences on the already frayed citizens. They never acknowledge that failure to institute cushions before announcing drastic economic policies with wide-ranging impact is bad governance in itself, regardless of intentions. The bridge closure was a glimpse of our national life. 

That Wednesday’s traffic madness threw our mess into bold relief. 

Indeed the signs had been pasted for weeks. “But where is the independence bridge?” That was the question on many lips. The communication was poor. A bridge was to be closed for repairs. Neither the government nor the contractor bothered enough. When it was eventually closed, nobody was ready. The government that closed it wasn’t prepared. Their clumsiness made it seem like life was dependent on that short bridge. 

By 8am that hellish day, Victoria Island, Ikoyi, Lekki, and Lagos Island were grounded. Cars were running back to meet cars running forward. People were jumping down from panting stationary buses and starting to trek. Their faces said they didn’t believe they would get to their destinations. Then the rain came. 

By 11am, most offices had no workers. Many cars caught in the melee had run out of fuel. And those who underestimated the distances they had embraced with their feet were running out of breath. Soon, they would have the independence bridge etched on their minds. Lagos was accustomed to traffic turmoil, but that Wednesday, even for the initiated, it seemed surreal.

All through the madness, neither the police nor Lastma were anywhere to be found. Perhaps they were all stuck somewhere. On a day when a state of emergency could have been declared and soldiers sent in to move the traffic and restore order, the government was soundly asleep. 

If those who shut the bridge had an eye for consequences, they might have re-opened it immediately to relieve the city of the suffocation. Sick people were stuck. Health workers were trapped. But the engineers at the bridge started to break it. Perhaps having put thousands through the anguish, they might as well go through it once and for all. If likened to taking out a bad tooth without anaesthesia, having started, they were justified to continue and finish. 

When the minister of works, who, it appears, has no respect for environmental impact assessment assays, woke from his slumber, it was already sunset. Without thinking it through, he announced that the works be stopped and the bridge reopened. Perhaps he was worried that some aunties of the president would reach him to tell him that the minister had put them through hell. Perhaps the president was already screaming at him.

Unfortunately for the minister, his order for re-opening left him looking clueless. The bridge had been excavated and broken. The next morning, the governor stepped in to do damage control. He tendered a solid apology. He begged the public not to dwell in the blame game. It’s difficult to know between him and the minister who should get the kick in the groin. 

The bridge repairs were overdue. But had anyone been thinking about the people, arrangements would have been made to lessen the suffering. Lagos can put traffic officials, soldiers and policemen at every bottleneck and curtail the anticipated constipation. But the authorities slept and the city became an obstructed and tangled mess. They know how to prepare for the visit of the president, to prevent him getting trapped in traffic. But they couldn’t think about the people.

That fateful Wednesday, some people got to work at 4 pm. Bedraggled and famished. They hid in their offices till 11pm to avoid any contact with the scourge on their way home. But at midnight, they still ran into it. Many got back home at 5 am. Only to have their bath and start another sleepy uncertain journey back to the office. 

By the time the governor was rendering his apology for the previous day’s commotion, another maze was forming. Nothing had been done overnight. He politely asked the public to disregard the minister of works, suggesting that the Abuja man was at a remove from the consequences. He asked the people to brace for the disruptions to get a healthy bridge and avoid a calamity. Once again he asked for two whole months to fix the short bridge. 

After the governor left the scene, the minister appeared. He said he was sent by the president to sort out the bridge and the nefarious traffic. He said he was taking responsibility but didn’t avoid throwing his staff under the bus, saying he wasn’t informed of the closure and the repairs. He said the president was displeased. He said the Controller of Works wouldn’t go unpunished. The number of times he mentioned ‘Mr President’ left no one in doubt. The president wasn’t just on his neck, but the sulking president was perhaps angry with the governor too. During this appearance, the minister praised the governor for his effort in curbing the traffic before he arrived from Abuja. 

But before sunset, the minister returned. He announced the bridge must be re-opened the next day. “Before the close of work,” he said. Obviously, the president sent him back. Perhaps the governor’s stance had bruised the president’s ego. In his usual style, whenever he had to shield his boss’ tempestuousness, Umahi was ambiguous. He said by the next day, he would have effected a temporary fix that could become permanent. The same bridge he had planned to close for two months for a proper fix. At some point, he almost suggested that the temporary fix could even be a blessing in disguise. Tomorrow he might attribute the ‘miracle’ to Mr President. The same Umahi who had claimed he supervised the original engineering repair design was speaking like a peripatetic luxury bus medicine dealer. Effectively, the broken bridge will be patched up. 

A clash of egos in the end, possibly. Excruciating levity, flippancy and costly reversals, certainly. A country stumbling along. The brunt is always borne by the people. The bridge could be closed again next month. Umahi would again come with some mumbo jumbo.  The story of our country. 

•Kidnappers fed a newborn baby to their dogs in the presence of the kidnapped mother

 

WHAT occurred at Uromi, headquarters of Esan North East Local Government Area in Edo State on Thursday, March 27, could have befallen any other community in the heartbeat of the nation, given the prevailing circumstances, tension, and anger over the hair-raising operations of suspected herders in combination with abductors.

 
 

More than 24 other communities in Edo Central, Edo North, and Edo South senatorial districts have been sacked and under siege by criminally-minded herders from northern Nigeria.

The same could also have arisen in over 30 communities in Delta and Bayelsa States, where the residents, especially farmers, are terrified to go to farms because of some brazen Fulani herders who invade their farms, uproot crops they planted and feed their cows, rape women, and take the villagers hostage for ransom.

A few months ago, bewildered women stormed the palace of the Onojie of Uromi to vent their anger at the rising cases of kidnappings and killings.

The situation became so frightening in January that the Onojie of Uzea, Esan North East local government area, HRH Solomon Itoya Iluobe, declared that he did not want to see any Hausa/Fulani in their forests because of their atrocities.

”Our women go to their farms, they rape them, and at times they even set them ablaze. I have paid ransom three times to Fulani herdsmen; they kidnapped my elder sister, and they have also kidnapped two people from this place. Even last month, I paid a ransom.

“To even sleep in this place is by the grace of God Almighty. To access this road, you need security, which is a problem.

“I, as Onojie of Uzea, no longer want Fulani in my forests. They will kidnap us, keep us in our land, and we will pay a ransom. We are tired. I do not have a hand in Fulani, and anybody who has a hand in their staying in our forests should tell them to leave Uzea. We need security here so that one day we will not wake up and discover that we only have two people remaining in the Uzea Kingdom.”

Some weeks ago in Bayelsa State, where the deputy governor confirmed that several local governments were under siege by herders, mothers protested the destruction of their farmlands and rape by the prowling cattlemen.

In Delta, Edo, and Bayelsa States, the situation is as if herders plotted and intensified their operations in the first three months of this year to make life unbearable for the people, who have cried hoarse about their nightmares with the federal and state governments doing little to protect the citizens.

We are hunters, not terrorists — Survivors

However, last week’s incident in Uromi was ill-fated. A raging mob roasted alive 16 out of 27 persons of Hausa origin who identified themselves as hunters and were traveling from Port Harcourt, Rivers State, to the northern part of the country for the Salah celebration on the supposition that they were kidnappers after finding a cache of arms and ammunition with them.

Some people argued that it was a transferred hostility. Two survivors of the Uromi attack who narrated their near-death experience said they were hunters from Kano State.

They said the rifles recovered by the vigilante group were hunting rifles, claiming they had licenses; however, the vigilante cluster accused them of being terrorists and lynched 16 of them, while five others escaped.

Concerned citizens have also pointed out that the people lynched were Hausa indigenes and not Fulani herders, who the Uromi people claimed were attacking farmers and kidnapping villagers for ransom. Eyewitnesses said more than 20 persons were in the trailer, but some Uromi indigenes helped some of them to escape lynching.

The whereabouts of arms, ammunition, and cash allegedly found are unknown

There is a controversy over the whereabouts of the arms and ammunition found with the victims, but what they saw with them were Dane guns.

A villager said the guns were with the police, but the police public relations officer said everything that has to do with the case has been transferred to the Force Criminal Investigation Department (FCID).
The whereabouts of the supposed cash found in the trailer remain unknown.

Ubiaja indigene sighted victims transferring weapons into a waiting trailer – Ben

Some locals who disputed the claim of the Hausa victims said some kidnappers also have dogs with them in their hideouts in the forests, but the way the victims behaved created room for suspicion from the point they were sighted loading their consignments into a waiting truck, along the road between Onicha-Ugbo in Delta State and Ubiaja in Edo State.

A non-indigene who lives in Uromi, Ben (surname withheld), gave a peek into what happened. His words: “I condemn the act of jungle justice, which is not in line with our constitutional provision of how offenders of any form of crime can be tried.”

“However, those persons are presumed to be kidnappers because information available showed that if you are passing through here to the east, you will move from Uromi to Ubiaja, Ewato, and Ewohinmi, down to Onicha-Ugbo, and there is a forest and a river.

“That place has been a flashpoint; they (herders and kidnappers) have laid siege on that part of the road for the past months, and it was at that spot that an indigene of Ubiaja moving towards Ubiaja from the Onicha-Ugbo axis saw these men carrying their arms from one person to another and into the trailer with Dangote inscribed on it.

“He quickly drove to town and alerted the vigilante men at Ubiaja, who waited for the truck. On getting to Ubiaja, the trailer did not stop for the vigilante, so the vigilante at Ubiaja sent a distress call to those in Uromi, and they mounted surveillance.

“The vigilantes in Uromi were able to use a tipper with a full trip of sand to stop the trailer, and at the point of questioning them, one of them stabbed the vigilante with a dagger, which was how the thing escalated. It is regrettable the way they were handled, but they caused the provocation, and their movement was suspicious.”

What gave them away— Prince Olumese, native

Corroborating the claim, Prince Eugene Olumese said the victims could have also camouflaged as hunters because “there are hunters that carry dogs and Dane guns.”

“From the environment I grew up in, Lagos and Ogun states, we used to see hunters in the bushes, irrespective of what tribe they were; some of them even have huts in the bushes. But even at that, were these people hunters? It could be. Are they kidnappers? It still could be, but some reasons will make you say these people are likely to be kidnappers or hunters.

“They covered themselves with a tarpaulin in a truck filled with palm kernel shells, which means they did not want anybody to know that people were there. Why? Hunters should walk freely in towns; there was something spectacular, and they also had plenty of money. New currency notes—look at it, hunters with new currency notes!

“Many trucks drove through Uromi that day without anybody searching. This truck was carrying palm kernel shells. You can imagine what it took them to search and discover human beings and then guns, money, Dane guns, and dogs, so these people (vigilantes) were working on a tip-off.

“There are videos and write-ups in social media by Uromi indigenes saying these things are happening; they kidnap poor men, they kidnap our women, they rape our women, and they insert sticks into their private parts.

“Sometimes, even when ransoms were paid, they would hold the person who came to pay the ransom and release the one who was held before. These things kept happening again and again, yet nothing was done on these cries, and if anything was done, it was not to the satisfaction of the Uromi indigenes.

“Though it is not right that they took the law into their hands, something triggered the anger. You can imagine that when people are arrested in the act and taken to the appropriate authorities, especially the police, and in a few days to months, you see the same people walking freely.

“Your life is at risk, especially those who keep watch over the town, whom we call vigilantes, because these people will come after them. This was why they mobbed them to death, which is inappropriate. We are unhappy about it. But a situation that was not remedied caused it to happen.”

Why did they hide in the trailer? Okojie, native queries

Another indigene, Brown Okojie, said, “We see trucks pass through here, and you would see the boys who we call aboki standing on the top of the trucks; they hang their Dane guns on their shoulders, and you would see the dogs they carry, but these, they were hiding in the Dangote truck. why?”

A week before that incident, five kidnappers were arrested in the forest, and they were taken to the police station in Uromi, which transferred them to the state police headquarters in Benin City. But shockingly, the following Monday, the same people were released back to the community, thereby putting the lives of those who apprehended them at risk.

Okojie revealed: “A day before the incident, N25 million was paid as ransom to the herders to release a husband and his wife, but they still killed them and left their bodies along the Ubiaja Road.

“That same day, a lady went to pay N5 million to bail her sister from the herdsmen in Uromi; they collected the money, released the initial victim, and then kept her. Now, we are looking for money to release her. As we speak, people who are victims of kidnapping are still with their captors, these Fulani herdsmen.

Fulani herdsmen fed a newborn baby to their dog in the mother’s presence

“Early this year, a pregnant woman was in labor, and the husband had no choice but to carry her around midnight to the hospital. On their way to the hospital, herdsmen kidnapped them. The woman was in labor throughout that night until morning, and she gave birth to a baby boy in their presence.

“The Fulani herdsmen gave that baby boy to their dog because they move with the dogs; the woman said she watched her baby being eaten alive by the dogs. She is still living with the trauma, so you cannot just say that because those victims were with dogs, it made them hunters. After this incident, they still asked for ransom before they were released. They did that to show their level of harshness.”

He said a few days before the incident, about 12 children were going to school together in a community in Ewohi, cows emerged from the bush, the children ran, and a three-year-old child who could not run was trampled upon, killed by the cows, and nothing happened

They are not hunters — Ordia

Ordia, who has been involved in negotiating the release of a kidnapped person, said, “It is not a good experience at all. About two months ago, a very close friend of mine was kidnapped, and the members of our association had to rally round, levied ourselves, including church and family members, and raised N3 million before they released him.”

I am not particularly pleased with how the authorities and media have handled this matter, that they are hunters traveling from Port Harcourt to Obajana and Kano State, as the case may be. Port Harcourt is a riverine area, so where were they hunting? I believe that these guys were not hunters.”

Villagers identified some of them as kidnappers before the lynching

A source told Saturday Vanguard: “What provoked the mob to lynch the 16 persons was when villagers who claimed to have been abducted in the past past came to the scene, and identified some of them as those that kidnapped them.”

“Some of them also identified some items found with them as property they stole from them during their kidnap.

“If they were hunters , why were they not with dried meat and any other things that would show they were hunters? They use the weapons they carry to hunt and kill their fellow human beings, not animals.

“Is it the bags of rice that the vigilantes saw with them that were their proof of being hunters when we already knew they took off from their hideout in the thick forest between Onicha- Ugbo and Ubiaja.”’

Okpbholo’s intervention after dismantling Obaseki’s ESSN

When Governor Monday Okpebholo visited Uromi on March 28, a day after the incident, Hausa people residing in the community and some natives staged parallel protests.

Both sides almost clashed before security agents shot to disperse them, after which the governor came down from his vehicle to address them.

The women’s protest on social media, purporting that they barricaded Okpebholo’s entourage, was an old video.

The protesting women, however, said they were worried that the state government had stopped the local vigilante protecting them in Uromi, and “Now, it is operation secure yourself.”

Former governor of the state, Godwin Obaseki, had set up the Edo State Security Network (ESSN), mainly vigilante members. Many of them registered with the state government with their arms.

Some were trained by the security forces at the Mobile Police Training School in Ogida Barracks, Benin City, and the government deployed them across senatorial districts, local government areas, and communities. They worked with the local vigilantes and hunters in the communities.

They also mounted roadblocks at the flashpoints around the highways and communities, and at times, jointly searched the forests with government security agencies to checkmate kidnappers and their activities.

When Governor Okpebholo assumed office, he appointed Friday Ibadin, a retired commissioner of police, and changed the name to Edo State Security Corps. Ibadin recalled the personnel and ordered them to submit their guns and appear for profiling, which is what he has been doing for the past three months. The governor suspended him soon after the Uromi incident.

The Okpebholo government took a hard stance against kidnapping by demolishing properties linked to criminal activities, including those of suspected informants and kidnappers, and has vowed to continue this crackdown until kidnapping ends in the state.

These actions were taken based on a new anti-kidnapping law in the state. According to the new law passed by the Edo State House of Assembly and signed by the governor, any house found to be used for kidnapping activities will be demolished to serve as a deterrent to others.

Under the new law, a landlord “must profile a person before giving out their house to him or her for rent.”
The government intensified its crackdown on individuals aiding kidnappers, as the state’s task force demolished several properties within the Edo Central and Edo North senatorial districts.

The measures seemed to be yielding results as collaborators were already allegedly fleeing their areas, abandoning their properties for fear of being demolished until the March 27 tragedy.

[Vanguard]

President Bola Tinubu’s Senior Special Assistant on Social Media by the name of Dada Olusegun reportedly said on Thursday that had Nigerians elected former Vice President Atiku Abubakar as president, they would have been sweltering in the same snake pit of torment and economic decline as Argentinians are.

Olusegun's comment was informed by Atiku's previous praise for Argentinian President Javier Milei's economic reforms on February 25, 2024, when Atiku had encouraged Tinubu to emulate the Argentine model.

“Reports have shown how Argentina’s real economy which Alhaji Atiku wants Nigeria to emulate is in severe crisis,” he was quoted to have written on Twitter. “Public debts have reached new highs with the country owing more to the IMF than any other country in the world. Meanwhile, its education sector, manufacturing and construction are collapsing amid rapid deindustrialization. Argentina has $41 billion in credit outstanding, representing 28% of all debt owed to the Fund.”

It’s interesting that the presidential aide painted a dystopian vision of Nigeria’s fate under an Atiku Abubakar presidency by invoking the existential turmoil gripping Argentina under Javier Milei. Yet, delicious irony hums beneath the surface, unseen by Olusegun. President Tinubu’s own economic prescriptions mirror Milei’s policies so closely they might as well be fraternal twins.

Both Tinubu and Milei are champions of punishing austerity. Both are architects of spiraling inflation and social distress. But as the presidential aide warned Nigerians against the imagined peril of emulating Argentina, he entirely missed the reflection staring back from his own political mirror. 

He seems blissfully unaware that his cautionary tale is already Nigeria's lived reality, which is dramatized in the daily hardships and grievances of citizens enduring a spectacle not different from Milei’s Argentina.

In my March 9, 2024, column titled "Rise of Right-wing Economic Populism in Nigeria,” where I tackled Atiku for prescribing Argentina as a model for Nigeria, I wrote the following, which is still relevant today:

“Everyone within striking distance of becoming president in Nigeria in 2023 subscribed—and still subscribes—to the consensus that the IMF and the World Bank are inviolable economic oracles that must not be disobeyed, that subsidies must be eliminated and the poor be left to fend for themselves, and that the market is supreme and should be left to determine the value of everything. 

“In fact, the other day, PDP presidential candidate Atiku Abubakar put out a press statement titled ‘Argentina’s Javier Milei approach to reforms should serve as a lesson for Tinubu’ where he extolled the dangerously right-wing Argentinian president Javier Milei whose rightwing economic populist policies are destroying the fabric of his country. 

“‘I read a recent report in Reuters titled: “Argentina’s market double down on Milei as investors ‘start to believe”,’ he wrote. 

“Well, the same Western financial establishment is already praising the outcome of Tinubu’s economic policies. A March 8, 2024, report from Bloomberg, for instance, has said that ‘Foreign investor demand for Nigerian assets surges as reforms instituted by President Bola Tinubu’s administration starts paying off.’

“Similarly, one David Roberts, identified as a former British Council Director in Abuja, bragged the other day that Nigeria’s economy ‘posted a GDP growth of 3.46% in quarter 4’ as a result of Tinubu’s economic reforms. 

“He wrote: ‘Why would a country with a severe infrastructural deficit invest more money on a wasteful expenditure such as cheap petrol, instead of building schools, hospitals, dams and a national railway system? It is evident that it had to go.

‘We joined the World Bank and the International Monetary Fund in saying as much to the Nigerian government. And at long last, it is gone.’

“People outside Nigeria reading about Nigeria in the Western financial press would think Nigerians are now living in El- Dorado as a result of Tinubu’s ‘reforms’—just like Atiku thinks a favorable Reuters story about the anti-people economic policies of Milei, who is called the ‘Madman of Argentina,’ is already yielding excellent outcomes. 

“If you do the bidding of the Western establishment, they will always make up statistics to show that your economy has grown. I called attention to this in my June 28, 2023, column titled, ‘Why Tinubu’s Hiring and Firing Frenzy Excites Nigerians.'

“I wrote: ‘What shall it profit a country when it pursues policies that cause the economy to ‘grow’ but cause the people to growl? After the economy has ‘grown’ but the people still groan, where is the growth? The most important growth isn't the rise in abstract, disembodied, World Bank/IMF-created metrics but in the improvement of the quality of life of everyday folks.’

“Milei’s Argentina that Atiku is praising is almost in the same right-wing economic hellscape as Nigeria is. Like Tinubu, Milei began his presidency by removing subsidies for petrol and transportation and devaluing the Argentinian peso by more than 50 percent. In addition, he threw scores of workers into unemployment when he reduced the number of ministries in the country. 

“He is so market-centric he scrapped a whole host of rules designed to reign in the greed and exploitation of private enterprises.  He did this by getting the parliament to approve the principle of ‘delegated powers’ to the executive for one year, which allows him to rule by decree like a military dictator in the name of ‘economic urgency.’

“The result? Like in Nigeria, most Argentinians are having a hard time finding food to eat. A February 1, 2024, CNN story captures it: “‘I don’t know how I will eat.’ For the workers behind Argentina’s national drink, Milei’s reforms are turning sour.”

“Argentinian workers periodically go on strike to protest Milei’s punishing right-wing policies. On February 28, all flights were cancelled in the country because air travel workers went on a crippling 24-hour strike.

“A March 4, 2024, Bloomberg report said Milei’s policies had caused spending to plunge at shops in Argentina, that firms were seeing double-digit sales declines for third straight month, that the worth of salaries had plummeted amid a paralyzing 250% inflation, and that recession was deepening in the country.

“The lead to the story says it all: ‘Consumers in Argentina are running out of options to shield themselves from runaway price increases as President Javier Milei’s austerity measures send the country deeper into recession.’

“That’s Atiku’s exemplar for Nigeria. Peter Obi is, of course, no different. Tinubu, Atiku, Obi, and in fact Yemi Osinbajo are united in their love for rightwing economics, which invariably leads to an increase in poverty, suffocation of workers, rolling back of welfare for common people, etc. 

“In a perverse way, they are actually worse than Buhari because they are self-conscious conservative economic ideologues. Buhari is merely a know-nothing, bungling, kakistocratic power monger. 

“The real tragedy is that the vast majority of Nigerians who are ensconced in the narrow ethno-religious political silos built around the personalities of the major 2023 presidential candidates don’t realize that on economic policies, which is what really matters, Tinubu, Atiku, Obi, and Osinbajo are more alike than unlike. 

“Sadly, Nigerian leftists, who used to be the bulwark against the dangers of conservative economic totalitarianism, have either been coopted or silenced. Only Femi Falana, Majeed Dahiru, I, and a few others consistently stand up to the forces of economic conservatism.

“This state of affairs will ensure that Tinubu’s successor will be another neoliberal ideologue who will bludgeon his way to the presidency using religion and ethnicity as cudgels. When he deepens the misery he inherits, he will blame his predecessor for not being a faithful practitioner of the neoliberal gospel. His own successor will replicate his template.

 “After three terms of this right-wing baloney, Nigeria will be irretrievably gone. The time to pivot from the IMF and the World Bank and to reject everyone who is their poodle is now.”

Because Tinubu’s presidential aide is shielded from the biting aftermath of his principal’s cruel economic policies, he imagines that Nigeria is different from Argentina. He is deluded. He lives in an alternate, sequestered reality.

Just as Tinubu’s swift removal of petrol subsidy and his devaluation of the naira set off inflationary shockwaves that hit millions of households in Nigeria, Milei’s shock therapy, which also involves subsidy cuts, currency plunge, and fiscal austerity, has exacerbated hyperinflation and unemployment, caused more than half the population to teeter below the poverty line, and provoked social unrest.

 In both Nigeria and Argentina, the middle class has been squeezed: many who were managing to live decent lives have slid backwards because soaring prices and job losses, undermining the very social fabric needed for a stable economy. Tinubu’s Nigeria and Milei’s Argentina present a distinction without a difference. 

The banking sector dominated headlines in the past few days following the humongous earnings released by most of the financial institutions in their full-year 2024 financial results.

In a country where individuals and companies are hurting from economic challenges and rising cost of basic necessities, the financial industry seems to be projecting a stark contrast as commercial banks continue to churn out staggering and record-breaking earnings.

For instance, the pre-tax profit for five tier-1 banks rose by about 69.5 percent to N4.56 trillion in 2024, as against the N2.69 trillion they recorded in 2023, just as their net profit after tax grew by 66.2 per cent, from N2.27 trillion in 2023, to N3.78 trillion in 2024.

Key extracts from the full-year financial results of United Bank for Africa (UBA) Plc, First Holdco Plc, Zenith Bank International Plc, Guaranty Trust Holding Company (GTCO) and Stanbic IBTC Holdings Plc revealed a strong jump in their respective profitability and assets.

Their combined total assets hit N108.21 trillion in the review year, compared with the N72.80 trillion recorded in 2023.

For UBA, while it recorded a pre-tax profit of N803.72 billion in 2024, compared with N757.68 billion in 2023, its net profit rose from N607.7 billion to N766.6 billion. Zenith Bank’s profit before tax rose from N795.96 billion in 2023 to N1.32 trillion in 2024, while its profit after tax also crossed the N1 trillion mark from N676.9 billion to N1.03 trillion.

GTCO printed pre-tax profit of N1.27 trillion in 2024 as against N609.3 billion in 2023, and its net profit rose from N539.66 billion to N1.02 trillion. First Holdco doubled profit before tax from N356.15 billion in 2023 to N862.39 billion in 2024, while its profit after tax increased from N308.4 billion to N736.7 billion.

Stanbic IBTC Holdings’ profit before tax doubled from N172.91 billion in 2023 to N303.8 billion in 2024, while profit after tax increased from N140.62 billion to N225.3 billion.

In the same vein, Fidelity Bank Plc which is not in the tier-one league reporting a 210 per cent growth in its profit before tax to N385.2 billion in 2024. According to the bank’s results released on the Nigerian Exchange (NGX), its profit after tax jumped by 179.6 percent to N278.1 billion in 2024.

Clearly, this is a startling dissonance and most Nigerians are wondering how possible it is for a sector to thrive so magnificently amid the economic hardship in the land? They are also questioning if these earnings are a testament to sound financial management, or do they signal a widening gap between the prosperity of the banking sector and the struggles of everyday citizens?

This questions arise because today, millions of Nigerians still experience multidimensional poverty as the country faces unique challenges in addressing poverty, considering its diverse population and regions. With the rebased Consumer Price Index, inflation in Nigeria today stands at 23.18 percent with the harsh business environment.

While the robust finance performance is partly attributed to banks taking advantage of the high interest rate environment and foreign exchange revaluation gains, many banks also short-change their customers and illegally profit from hidden and arbitrary charges. These excess charges range from commission on NIP transfer, VAT charges, SMS VAT charges, SMS alert charges, processing fees, interest charges, commission on turnover, card and account maintenance fees, withdrawals, and transfers charges, ATM fees, stamp duty fees, among others. Annoyingly, some banks charge for each of the more than two SMS notifications they send on a single transaction, in a country where workers’ minimum wage remains lower compared to other emerging economies.

These numerous charges significantly erode bank customers’ savings in Nigeria, compared with other jurisdictions where such charges are often non-existent, especially for basic accounts. It also impacts negatively on financial inclusion.

Indeed, this is not about demonising banks making profits, it is about advocating for a more balanced approach and responsible banking. The concerns of banks profiting from excessive charges call(s) for scrutiny and highlight(s) the need for consumer protection.

Also, beyond declaring huge profits, banks should note that they are essential in providing a safe place for individuals and businesses to store their money, offer loans to stimulate economic activity, and facilitating a wide range of financial transactions.

The concern by the President of the Manufacturers Association of Nigeria (MAN), Francis Meshioye, who recently stated that commercial banks are not supporting manufacturers and small and medium-scale enterprises (SMEs) enough should also be looked into.

According to Meshioye, the percentage of bank loans to the real sector yearly, compared to other sectors, is abysmal, currently at about 12.9 per cent.

“Besides scarcity, the cost of funds is too high and no manufacturer can produce anything with the current interest rate. If the banks have access to short-term funds, they cannot give long-term loans. The cost of funds will determine how much the banks are going to give out as they certainly cannot give out funds at a loss to them.

“The banks are growing their capital base and declaring huge profits while manufacturers are declaring losses and closing shops. When we even get the funds, by the time it is time to pay back, the cost of funds has gone up and we find out that our capital base has eroded even more,” he said.

From the foregoing, commercial banks must shun arbitrary deductions from customers’ accounts, and transparency, fairness should be their guiding principles.

The Federal Competition and Consumer Protection Commission (FCCPC) which has statutory mandate under the Federal Competition and Consumer Protection Act to intervene in matters that adversely affect consumer interests, must also be alive to its responsibility to prevent banks from ripping off consumers.

Equally, the Central Bank of Nigeria (CBN) has to ensure that the regulatory environment is strengthened so that banks can operate in a manner that aligns with the nation’s developmental goals. Policies that promote financial inclusion, encourage lending to productive sectors, and curb excessive interest rate spreads are essential. It is equally important for regulators in the financial system to initiate enduring public awareness programmes that will build financial knowledge and literacy of consumers.

The development also justifies the need for the federal government to ensure the enforcement of last year’s imposition of a windfall tax. In July 2024, the National Assembly passed a bill that was assented to by President Bola Tinubu in August 2024. By the Finance (Amendment) Act 2023, the windfall tax targets the significant profits banks made due to the naira’s devaluation. This policy is expected to push banks towards more sustainable and ethical business practices, where profit generation is aligned with long-term value creation, customer satisfaction, and economic development.

Finally, for Nigeria to truly prosper, the benefits of economic growth must be more equitably distributed. Banks must also contribute towards ensuring that the country achieves inclusive growth and one where the prosperity of the few translates into opportunity for many.

In Nigerian politics, loyalty is not merely a virtue—it is a double-edged sword, a cross to bear, and sometimes, a noose. A man who stands firm with his principal will either be praised as a committed ally or seen as an obstacle to someone else’s inordinate ambition. In the latter case, such a man must be “removed.”

This appears to be the case in the ongoing saga between Senator Natasha Akpoti-Uduaghan and Senate President Godswill Akpabio. Akpoti-Uduaghan, who initially attributed her removal as Chairman of the Local Content Committee to sexual harassment, has now changed her tone—claiming she was sacked for “protecting Northern interests.”

When one places this narrative side-by-side with the comments of Busola Saraki, Atiku Abubakar, the Arewa Consultative Forum, and other Northern elements, the larger play unfolds. This is not an innocent drama of legislative disagreement. It is a carefully choreographed spectacle—replete with villains, pawns, and shadows.

At the heart of it stands Akpabio—a man accused, maligned, and marked. Not because he has broken any law or committed any proven wrong, but because he has stood firm beside President Bola Ahmed Tinubu. And for that, he must be brought down.

There is, without question, a gathering of dissenters—former aspirants, serial losers at the ballot, political relics whose time has passed but whose ambitions remain undimmed. They have no national vision to offer, no coherent philosophy to propose—only a festering grievance and a common enemy: the man who defeated them.

Their aim is simple: to seize, through subterfuge and scandal, what they could not secure through the sovereign will of the people. And if power cannot be regained, then the next best thing is to make the country ungovernable.

The first phase of this plot is clear—decimate the President’s Praetorian Guard. Strip him of loyal allies. Render him vulnerable as 2027 approaches. In their crosshairs is Akpabio, and Senator Akpoti-Uduaghan appears to be the willing hired gun for the dirty job.

Why Akpabio? Akpabio is the first supporter they wish to sacrifice on the altar of vengeance. A visible ally of Tinubu. A formidable defender of the administration. They know that weakening Akpabio loosens the pillars holding up Tinubu’s house. And so, they reach for their weapons—not of war, but of whispers and smear campaigns, sponsored headlines, and strategic falsehoods. Among these, the most visible instrument is Senator Natasha Akpoti-Uduaghan—a willing tool for their evil enterprise.

They know that as long as Akpabio remains Senate President, Tinubu’s re-election bid will enjoy solid legislative backing.

As Machiavelli put it, “He who guards the throne is more dangerous than he who sits upon it—remove the guardian, and the throne becomes a chair.”

 Akpabio is a major guardian of the Tinubu throne. Hence, the attacks from all angles.

Let us not be beguiled by sentiment. Senator Natasha, in this context, is not a lone voice of justice crying in the wilderness. She is no accidental heroine. She is a pawn in a larger political game—a game devised in the drawing rooms of desperate politicians who, unable to govern Nigeria, now seek to ruin those who do.

The names are not unfamiliar: Atiku Abubakar, Nasir el-Rufai, Peter Obi—the trio of ambition, bitterness, and illusion. They lost the 2023 election, not through fraud or manipulation, but through the expressed will of millions of Nigerians. Yet, rather than accept the verdict of democracy, they now seek to dismantle its very instruments. What better place to strike than the Senate? And what better target than its presiding officer?

This is not speculation. Their recent statements, social media antics, and strategic silences at critical moments reveal their hand. Atiku’s viral, unprovoked attack on Akpabio is no coincidence—it is part of the plan.

Natasha is not a loose cannon; she is a guided missile. The game plan is simple: manufacture crises from the most mundane matters, paint key figures as villains, and set the stage for a grand opposition showdown in 2027. Her sudden outburst in the Senate and carefully choreographed media blitz were the cold open of the movie. Now the sequence has been established, and the opening credits are rolling—featuring Bukola Saraki and company.

From a routine seating arrangement—a mundane legislative procedure—Senator Natasha has now conjured accusations of sexual harassment, threats to life, and elaborate conspiracies. The timing of this remembrance, suddenly arising a year after the alleged incident, is not only convenient; it is calculated. A smokescreen. A decoy. An attempt to stain a man’s name in the court of public opinion, where evidence is no longer required, and accusation is guilt enough.

There’s an old legal maxim: Give a dog a bad name and hang him. That, indeed, is what is unfolding. The Atiku-led clique is directing the movie. The volume of money pumped into this needless campaign to lure international media and embarrass the nation is staggering.

One day, it’s alleged insults. The next, sexual harassment. Tomorrow—who knows? Perhaps they’ll say Akpabio plans to auction Nigeria. The strategy is obvious: manufacture offence, amplify it through a compliant media, and weaponize it for political gain. But Nigerians are growing wiser—and wearier.

Even locally, all these unpatriotic efforts to create global embarrassment have yielded nothing. Nigerians are not fools. They know, as all people of discernment do, that justice cannot be built on lies, and democracy cannot thrive on deceit. The cry for accountability rings hollow when it emerges from a place of partisanship, not principle.

If Senator Natasha were truly pursuing justice, would she be flanked only by those with a declared interest in toppling the administration? According to the ancient Nigerian proverb: “When an owl hoots in the night and a child dies in the morning, we all know who to suspect.” In this case, it is now clear: Natasha was never a bystander. She was a hired agent provocateur sent to destabilize the Red Chamber. The logic was simple: strike Akpabio, the shepherd, and the sheep would scatter.

Before the unsuspecting public, a mere seating issue has now mushroomed into a web of accusations—sexual harassment, assassination plots, and shadowy threats—all conveniently aimed at one man. When we uncover the lies, she changes the script—hoping the audience forgets the plot.

This is a textbook case of “Give a dog a bad name and hang it.” The goal is to destroy Akpabio’s public image. First, he allegedly harassed her. Then, he sidelined her. What next? That he plans to privatise the oxygen Nigerians breathe?

Let us be clear: the Natasha debacle is a scripted drama to paint Akpabio as a villain and a threat to democracy. Ultimately, the goal is to weaken Senate leadership. But Nigerians are not being fooled—and many already see through the charade. History has taught us that in politics, those who cry the loudest often have the most to hide.

This episode is not about justice, democracy, or the protection of women—it is about power. Senator Natasha Akpoti, who has previously accused several men of sexual misconduct, is a well-placed pawn in a political chess game. Akpabio is simply the collateral victim. The true aim is to erode Tinubu’s support base and pave the way for an opposition comeback in 2027. Those who cannot see this are either naive or willing accomplices in the drama.

Akpabio, for all his human flaws, remains a political heavyweight whose loyalty to Tinubu is unshaken. And that, dear people, is his real crime. If Natasha truly sought justice, she would not wage a media war in harmony with those who lost at the ballot and now hope to win through chaos.

As the Yoruba wisely say, “The rat cannot claim innocence when found near the pot of soup.”

The motives are transparent. The cast is clear. The only question is whether Nigerians will fall for the performance or stay focused on the real issues.

To Senator Akpabio, I say: take heart. The storm may rage, the winds may howl—but the tree with deep roots does not fear the tempest, and the eagle does not flinch at the storm. History is rarely kind to the mob—but it always remembers the man who stood tall when it was easier to fall.

Dr. Daika, a Political Communication Strategist writes from Plateau

We ordinarily would not waste words on faceless social media platforms like the so-called "Adamawa Happenings." However, in light of inquiries from concerned Nigerians and credible members of the press, we are compelled to set the record straight:

His Excellency Atiku Abubakar, former Vice President of Nigeria (1999–2007) and Presidential Candidate of the Peoples Democratic Party (PDP), has not — we repeat, has not — resigned from the PDP. He remains a steadfast, bonafide, and loyal member of the party.

The source of this baseless rumour is a Facebook page peddling falsehoods, evidently orchestrated by desperate political operatives with nothing but mischief and confusion on their agenda. It is a calculated attempt to mislead the public and sow discord among the millions of Nigerians who look to Atiku Abubakar for direction and leadership.

This is not just fake news — it is a crude, shameless political hatchet job.

We urge Nigerians, especially supporters of the Waziri Adamawa, to disregard this malicious fabrication. It is a vile, vexatious ploy that deserves nothing but contempt.

Atiku Abubakar remains committed to the ideals of the PDP and to the democratic aspirations of the Nigerian people.

Signed:
Paul Ibe
Media Adviser to Atiku Abubakar
Vice President of Nigeria (1999-2007) and Presidential candidate of the Peoples Democratic Party
Abuja

The Chairman of the Federal Civil Service Commission ( FCSC), Prof. Tunji Olaopa, has described the coronation of the 46th Aláàfin Ọ̀yọ́, Ọba Abímbọlá Akeem Ọ̀wọ́adé, as a giant leap in Yoruba renaissance.

According to Prof. Olaopa, the coronation of a new Aláàfin of Ọ̀yọ́ is always an event that possesses social, political and cultural symbolism and significance. "This is why I deeply congratulate His Imperial Majesty, Ọba Abímbọlá Akeem Ọ̀wọ́adé, on the ascension of the throne of his fathers. This is an event whose significance transcends Yorùbáland and reverberates into the Yorùbá diaspora and the entire world where Yorùbá sociocultural and political influence is felt."

This is contained in a congratulatory message Olaopa issued to celebrate the new monarch whose coronation takes place on Saturday April 5, 2025 .

To Olaopa, the new Aláàfin is "wearing big shoes not just as the successor of the charismatic and highly influential leadership of past rulers, from Aláàfin Atìbà Atọ́batẹ́lẹ̀ to the unforgettable Aláàfin Lamidi Adéyẹmí—the traditional geniuses whose deep sense of history enabled them to curate the cultural relevance of the ancients and their traditional wisdom and institutions. He is also the inheritor of the great ancient tradition and heroic achievements of the leadership accomplishments from Ọ̀rànmíyàn to Ṣàngó, those whose foresights and selfless humanism laid the foundation of the formidable Ọ̀yọ́ Empire, and a cultural philosophy that gave the idea of the ọmọlúwàbì to the world."

For Olaopa, therefore, this ascension is therefore not a sinecure as he is confronted "with a modernizing imperative that serves as the core of the urgency of facilitating a Yorùbá renaissance at home and abroad. This renaissance must be founded on the rich tapestries of Yorùbá culture and civilization—that the Yorùbá built cities and founded dynasties; they created cultural dynamics and oversaw resilient political institutions; they conquered lands and incubate an entrepreneurial spirit that kept them on the critical frontiers of multidimensional achievements that have weathered the erosion of time. All this makes the Aláàfin a singular figure—a traditional agent of modernization that stands at the crossroads of managing the orthodoxy of tradition while launching the Yorùbá on the path of renewed modern vigor. This is even all the more so as traditional institutions in Nigeria places the traditional ruler within the context of democratic rejuvenation and consolidation. This is because it is at the level of the traditional institutional framework that Nigeria’s local governance dynamics become clarified and revitalized.

"The Aláàfin therefore becomes a symbolic pointer to the possibility of local governance that serves also as a modernizing influence on grassroots development. Yorùbá renaissance must therefore start at the level at which the Aláàfin constitutes the rallying point for southwest socioeconomic development. But this role as the vanguard of local governance means the Aláàfin has to first stimulate a climate of peaceful coexistence that constitutes the most significant element for socioeconomic development, starting from Afijio communities to the Òkè-Ògùn axis and rolling outward to the entire southwest as a corridor of development that builds on a climate of peace to instigate an industrializing progress that will eclipse past developmental efforts."

For the new monarch to realise these, according to Olaopa, he must be able to "stand above the recurring adversarial relationship that seems to define the relationship between the Aláàfin and the Ọọ̀ni of Ifẹ̀. This is one historical moment when the Aláàfin needs to be meticulous and deliberate in deploying his status, as the symbol of cultural unity, to articulate a relational framework that will ensure that all cultural and political resources are harnessed towards the task of making Yorùbáland a source of exemplary leadership that undermines the depth of irrelevance to which traditional rulers and traditional institutions have been reduced in Nigeria’s contemporary sociocultural and political reckoning.

" The ascension of the monarch will bring a cosmopolitan touch to modernize tradition for the emancipation of Oyo people.I see the coronation of His Imperial Majesty, Kábíyèsí Ọba Abímbọlá Akeem Ọ̀wọ́adé as the signal to a new beginning not just for the Ọ̀yọ́, Òkè-Ògùn and the southwest, but essentially for the injection of a youthful dose of creative and cultural innovation into Nigeria’s democratic experiment. May the reign of His Imperial Majesty, Aláyélúwà, Kábíyèsí Ọ̀wọ́adé be long and peaceful and fruitful—Àṣẹ!."

President Bola Tinubu has expressed sadness over the passing of Bauchi-based Islamic cleric Dr Idris Abdulaziz Dutsen Tanshi, who passed away in the early hours of Friday.

He was 68 years old.

President Tinubu, deeply moved by the loss, said the cleric contributed to moulding millions of youths and other Muslim faithful on the tenets of Islam.

The President extolled Dr Abdulaziz's efforts in countering the spread of violent extremism, especially in the early days of the Boko Haram conflict.

He said the Muslim faithful would greatly miss the cleric's trenchant voice, calling for moral rectitude and probity.

While praying for the repose of Dr Abdulaziz's soul, President Tinubu urged his family and followers to find solace in his good work.

 

Bayo Onanuga

Special Adviser to the President

(Information & Strategy)

Senator Godswill Akpabio has been in public service for over two decades, but it’s only recently that his supernatural powers have been brought to national attention. These days, the Senate President is regularly accused of doing things that would require some kind of paranormal abilities. Nigeria should be grateful for discovering this aspect of the uncommon senator. Last week, Senator Natasha Akpoti-Uduaghan announced that Akpabio, working with Gov. Ododo and former governor Yahaya Bello, was the one orchestrating her recall from the Senate. She claimed that initially Gov. Ododo was reluctant to be part of the plot, but he eventually caved in due to Akpabio’s surreal powers. It doesn’t matter that the Senate President is not even from Kogi, his influence and abilities cover the whole nation, according to the suspended senator, who also blamed INEC for working for her downfall. Well, it turned out that the recall has failed, but Akpabio still stands accused.

Last weekend, the same Akpoti-Uduaghan added a more bizarre allegation to the mix, claiming that the Senate President was even planning, again with Yahaya Bello, to murder her. She said the plot was hatched at the Transcorp Hilton Hotel, Abuja (where else?) and that Senator Asuquo Ekpenyong from Cross River State was part of the scheme. In fact, it was Ekpenyong that drove Bello to the hotel for the meeting, according to her. While the nation was enjoying a long weekend, Superman Akpabio was busy planning Natasha’s recall and assassination at the same time; and since Ekpenyong, the young senator from Calabar is a close friend of Akpabio’s, the plot wouldn’t sound believable unless his name was mentioned. But why would anybody try to recall a senator he is planning to murder?

 I understand that the Senate President is already talking to his lawyers and has sent a petition to the Inspector General of Police to investigate the outlandish allegations. I hope that she will honour police invitation to substantiate her claims. It was in 2018 that another Kogi Senator, Dino Melaye, was invited by the police to answer to some allegations. He went into hiding for eight days before he gave up. Melaye, who represented Kogi West, was accused of murder by the police and was declared wanted after he failed to honour their invitation. The eight-day hide-and-seek drama that followed gripped national attention and ended early January 2019 when Melaye opened his front door and came out of hiding. We shall see how Natasha, from Kogi Central, will play her own cards.

While we were still wrapping our heads around Natasha’s allegations, we heard another story of Akpabio’s powers. Senator Elisha Aboh, who lost his seat in 2023 due to a Supreme Court’s judgment, said in an interview with Arise News that it was Akpabio who influenced the Supreme Court. It was an old allegation which he had made in 2023, but had soon recanted and apologized for. But this time, he added that the Senate President had also orchestrated the sacking of five other senators and that the lawmakers in the upper chamber routinely run errands for the senate president and some even serve him tea in his residence. Talk of one man’s awesome powers!

The story of Akpabio’s supernatural powers is quite captivating. Right from his early days in politics, he has always been attributed with breathtaking abilities to the admiration of friends and foes. Some claim that he has abundance of God’s grace, while others think that his source of power is in unfathomable. He was a commissioner in the administration of Gov. Victor Attah when he planned to be governor. As the plan grew, he resigned the job late 2006 and devoted his full time to pursue the ambition. Initially, Attah was rooting for him, but later changed his mind and supported his son-in-law who was also a commissioner. Akapbio beat all the 56 aspirants, including the governor’s son-in-law and other heavy weights, to clinch the party’s ticket. He resisted all attempts by powerful political to take the ticket from him.  

As governor, he faced allegations of being the sponsor of the many cases of kidnappings in the state so as to weaken his opponents. That was the first and only time a governor would be so accused. Till today, with all the abductions happening across the country, no other state governor has ever been accused of sponsoring the kidnappings of his people. But my only regret is that the Senate President has not deployed his unique supernatural powers to solve Nigeria’s myriads of socioeconomic problems!

The Federal High Court sitting in Abuja and presided over by Honourable Justice Binta Nyako has issued a restraining order barring all parties involved in the ongoing legal challenge surrounding the suspension of Senator Natasha Akpoti-Uduaghan from making public statements or granting media interviews on the matter.

The case, which was recently reassigned to Justice Nyako following the recusal of Justice Egwuatu, came up for mention today. The court took appearances from legal counsel representing both parties. Chief J.S. Okutepa, SAN, appeared for Senator Akpoti-Uduaghan, while Umeh Kalu, SAN; Kehinde Ogunwumiju, SAN; Chikaosolu Ojukwu, SAN; and Paul Daudu, SAN, represented the Senate and its committee.

Justice Nyako noted that several applications had been filed, including preliminary objections challenging the originating summons. She directed all counsel to submit to the Court Registrar a list and brief description of their filed processes, indicating which are deemed relevant or otherwise, ahead of the next adjourned date.

The Court further directed that all preliminary objections and the substantive suit would be consolidated and heard together on the next hearing date. Justice Nyako emphasized that in cases involving conflicting affidavit evidence, oral testimony may be required to ensure substantial justice. However, she clarified that the issue of jurisdiction would be determined first before any consideration of the substantive claims made by the plaintiff in the same judgment 

Of particular significance, Justice Nyako issued a formal order restraining all parties, including Senator Akpoti-Uduaghan, their legal representatives, and members of the 10th National Assembly, from making public comments on the case through any media platforms, traditional or social. The restriction also extends to legal and political analysts, commentators, and media guests on radio and television programmes.

This development follows recent public engagements by Senator Akpoti-Uduaghan, including comments made at the Inter-Parliamentary Union meeting in New York, where she alleged that her suspension was a result of accusations she made concerning sexual harassment by Senate President Godswill Akpabio. She subsequently granted interviews to multiple local and international media outlets, including the BBC, SKY, and DEW.

The matter has been adjourned to May 12, 2025, for hearing of all interlocutory applications and the substantive case. A date for judgment will be scheduled thereafter.