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Terrorism-related deaths dropped from 2,600 to 200, AK-47 from N500,000 to N5m – NSA Ribadu
The National Security Adviser, NSA, Nuhu Ribadu, has said the number of deaths related to terrorism in Nigeria has dropped from 2,600 per month to less than 200.
Ribadu disclosed this while noting that AK-47 now sells for over five million naira due to the effort of President Bola Tinubu’s administration in curbing insecurity.
Addressing journalists at the High-Level African Counter-Terrorism Meeting in Abuja, Ribadu said AK-47 being mopped up are destroyed.
He said: “We are working and I think we have done fairly well. One of the things that we have seen as an indication that things are beginning to look different for example, is AK 47 that used to be sold for less than N500,000 last year but now goes for N5 million.
“This means it is not available and we are mopping them up, we are taking them out, we are destroying them. We do not just take but we destroy,”
“A lot of this work is ongoing, but people don’t really see; we salute our armed forces, our security forces, our governors who are doing extremely well.
“A lot of difference is taking place in Nigeria and that is the reason why I can assure you that in the last one year, we have reduced deaths as a result of violent crimes and use of arms.
“We used to record 2,600 or so a month but now we do have less than 200 on the average.
“It is an indication that we are getting results for the work being done.”
[DailyPost]
Beat my team, win N5m, Lagos bizman organises football showdown after Twitter banter
A Lagos State-based businessman, Suraj Oyewale, has organised a football match among his X (formerly Twitter) followers after bants about his football club being a team of electricians and carpenters.
Oyewale, on Saturday, featured in a football match which was organised by a marketing agency, Dynasty Africa, between Instagram and X influencers that ended 5-4 in favour of the X side.
Oyewale, popularly known as Sir J (J9), a football enthusiast and player, who took to his verified handle on Monday, noted that his decision to organise the Saturday game was to prove to everybody that he is still a good footballer despite his age and that a team cannot be set up in a hurry without appropriate training to defeat his side.
He further stressed that the team that will play against him should not consist of professional footballers but carefully selected players and individuals who are his mutuals on X platform.
The football enthusiast wrote, “For those who mock my football videos and say my players are carpenters and electricians, I have a challenge. 1. Form a team from Twitter (all players must be my followers or have commented on my football video in the past – no go import mercenaries wey no dey Twitter before). 2. Pick a date and a field (preferably Campos or Union Bank).
“3. Play against my boys and me. 4. I will transfer N5m to a Twitter person of high standing a day before the match. 5. If you beat my “carpenters and electricians” team, take the N5m. Let’s decide who the real football farmers are once and for all.
“If you beat my team, take N5million as prize. If you can’t beat my team, money gets returned to me 5. If you see a draw, go with a N1m prize. N4m gets returned to me. Players must be my followers or those who have doubted my football abilities. You have to show evidence.
“Jarus Plumbers FC vs Jarus Twitter Mutuals FC Announcements: 1. The recognised coordinator of Twitter Team is Michael Oyiga. 2. Match holds 3 pm, Saturday, 27 April. 3. Campos Stadium, Lagos Island, has been booked for the match. We welcome spectators.
Meanwhile, confirming the N5m winner-take-all prize to our correspondent, Oyewale said, “Yes, I am serious about it. I have sent the money to the ‘boardman’ and I’m only awaiting the team they will come up with but it must be made up of professional footballers.”
However, sharing information about his team, he said they had been defeated twice on their home ground before and were very beatable.
“My team has been beaten two times even on our home ground. So we are very beatable. But I seriously doubt that a quickly arranged team without training can beat us. This is where my confidence is coming from,” he added.
Oyewale is a First-Class Economics graduate from Obafemi Awolowo University. He is the founder of Jarus Homes, Jarus FC, and has authored four books on careers, networking, policy, and politics.
He is also a recreational footballer who plays regularly and is always queried by his followers for goal count and scoring abilities.
[Punch]
[OPINION] Implementing Oronsaye: The domestic cat is not a lion - Owei Lakemfa
THE Tinubu administration picked up the courage to implement the Oronsaye Report on restructuring the federal public service and cutting cost of governance. It was a courage lacking in his two immediate predecessors.
The Report recommends the merger of 220 of the 541 agencies, reducing agencies from 263 to 161. In all, 31 agencies are to be abolished, 54 merged, and 14 reversed to their previous status in the ministries. It is not clear yet how much of the Report will be implemented, but it is off to a good start.
The architect of the reforms is Stephen Osagiede Oronsaye, a rather conservative public servant who was appointed Head of the Civil Service of the Federation in June 2009 and left office on retirement on November 16, 2009. As Head of Service, he had pushed through a new policy limiting terms of permanent secretaries and directors to eight years. Armed with this, he forced nine permanent secretaries and some directors to retire from service.
Impressed by this unprecedented reform in the service, President Goodluck Ebele Jonathan appointed him to head a team that would reform the public service. His team turned out an 800-page document that became known as the Oronsaye Report. But Jonathan found it too hot to handle and dropped it like hot potato.
President Muhammadu Buhari came into power singing an anthem of change. After a number of declarations and vows to implement the report, he dropped it.
Oronsaye, himself, might not be too happy with the country. He supported an Executive Bill presented to the National Assembly in 2013 for the creation of an Independent Nigerian Financial Intelligence Unit outside the Economic and Financial Crimes Commission, EFCC. A visibly angry EFCC opposed the bill. Shortly after, it accused Oronsaye of carrying out a N190 million pension fraud back in 2010-2011. Two years later, he was hauled before the courts and, for the next eight years, dragged before two different judges before a third, Justice Iyang Ekwo discharged and acquitted him.
The judge ruled that the entire investigation and subsequent arraignment of the reformer, was a witch-hunt. He had wondered how, over the years, Oronsaye was not even availed a copy of the petition against him, so he had no way of responding or defending himself against the charges.
In a sense, the commencement of the implementation of his 12-year Report is a further vindication of the 74-year-old Oronsaye.
There have been some controversy about the decision to implement the Report with some accusing Tinubu of seeking to divert attention from the punishing economic crises Nigerians are going through. However, for me, the issues of reform, change and effective service delivery to the populace, should not be wished away or thrown out purely on such basis. I also do not buy the argument that rather than implement Oronsaye, the administration should concentrate on creation of more jobs. I do not see both as being mutually exclusive. Again, those who argue that we need more, not less agencies, have missed the point because the multiplication of bureaucracy does not translate to more government.
If anything, so long as the implementation does not result in job loses, I think it is not even going far enough. For instance, I do not see the reason for the existence of the Police and the Nigeria Security and Civil Defence Corps as two distinct civil security bodies.
It makes a lot of sense to me that the Directorate of Technical Cooperation in Africa and Directorate of Technical Aid Corps are merged under the Ministry of Foreign Affairs with the Nigerians in Diaspora Commission also brought under the Ministry. Why should the National Metallurgical Development Centre and National Metallurgical Training Institute be different agencies or, the Nigeria Army build a university separate from the Nigeria Defence Academy?
I think those who claim that with the implementation of the Oronsaye Report, the Tinubu administration has begun the much- needed restructuring and cutting cost of governance, are widely off the mark. It is like claiming that because the domestic cat and the lion share a common ancestry and belong to the same feline family, they can be interchanged. In comparison, the Oronsaye Report Implementation is cosmetic.
To begin with, the Presidency is so ubiquitous, with so many officials and aides, that they can in themselves constitute a country. A supposed Federal Government has 68 items on the exclusive list, including fishing in local waters, police, marriage and divorce!
Despite being the economic capital of the country and housing a mega city, Lagos State is not allowed to create local governments that can service its populace. To be able to do so, is what true restructuring means.
Cutting cost of governance includes states being allowed to run only the local governments they need and not maintain the number imposed on them by military fiat.
Cutting the cost of governance includes making the legislative houses part-time. It should also include paying them basic allowances and total emoluments not higher than those of an assistant director in the ministry. To pay a senator N14 million monthly is the equivalent of the wages of 466 workers on the monthly National Minimum Wage of N30,000.
In a country like Cuba, senators receive no payments at all, and if they need to research, they approach the tertiary institutions to assist.
No serious country gives a single senator N21 billion as ‘constituency projects’ for which there are no competitive biddings, no specific projects approved and no proper accounting system. If we were to be serious with cutting cost, the Bicameral Legislature would give way by the scrapping of the 360-Member House of Representatives. Its duplicated functions can be carried out by the Senate.
An agency of massive wastage is the Independent National Electoral Commission, INEC. In some Third World countries like Venezuela, all the voter has to do is show up with his national identity card at any voting centre, cast his vote by touching the symbol of his preferred party as provided on the secluded screen. His vote is automatically counted.
In contrast, INEC developed temporary voters card which is then replaced by permanent voters card, display of voters list for every polling station, printing of voters cards, movement of non-sensitive electoral materials, followed by the sensitive materials which are escorted by armed security men. At the voting centre itself, it has deployed card readers, the Bimodal Voter Accreditation System, BVAS,and the INEC Result Viewing, IREV, portal. All these rigmarole, only to produce inconclusive or hotly disputed results.
To be serious about restructuring and cutting the cost of governance, we need to retrieve the Report of the 2014 National Conference just as the Oronsaye Report was dusted up.
FCCPC seals Abuja Chinese supermarket over discrimination against Nigerians
The Federal Competition and Consumer Protection Commission has sealed the Chinese supermarket located within the China General Chamber of Commerce in Abuja, the nation’s capital.
Officials of the FCCPC stormed the premises and shut the supermarket on Monday.
The commission’s officials sealed up the place following the interrogation of Nigerian workers at the supermarket.
Recall that Nigerians had expressed outrage over a discriminatory policy implemented by the Chinese Supermarket for barring Nigerians.
The supermarket only granted exclusive entry to Chinese nationals in the country.
According to the facility manager of the complex, Shaibu Sanusi, Nigerians from outside the complex do not shop but Nigerians within can access it.
This was as facilities workers at the store disclosed that the owner of the supermarket had fled the premises.
The workers, who were largely Nigerians, disclosed that the owner of the supermarket had fled when the officials of the Commission stormed the supermarket on Monday.
The workers said that the owner of the supermarket, a Chinese lady, Cindy Liu Bei, fled on Monday at 8:26 am with her family as confirmed on the Closed-Circuit Television camera.
The FCCPC officials subsequently shut down the supermarket.
[Vanguard]
[OPINION] The Naira abuse palaver - Dakuku Peterside
There is no disputation that Naira abuse or more specifically the act of spraying money at social events has become an acceptable norm or cultural practice in Nigeria. Nigerians have a cultural affinity for lavish social gatherings. Many people regard these occasions as a means of displaying social status and wealth. Spraying Naira notes, and other currency notes, at events progressively appears to be the ultimate way to flaunt your social standing.
Even burials that are supposed to be sober moments have been turned into considerable fanfare. This has created a new industry of mint note trading and events management. All of these constitute the social infrastructure of Naira abuse. A new dimension of the social infrastructure of Naira abuse is the arrival to the scene of the nouveau rich. Society has labelled them with all sorts of terminology: Yahoo Boys, Yahoo Plus, and 419.
Nigeria has since recognised the dangers of Naira abuse but that is not the focus of this piece. The government has made rules and laws to check it and provided enlightenment campaigns to educate people. The Central Bank of Nigeria (CBN) gave Naira abuse as one of the reasons why it is pushing for digital-based financial transactions. Naira abuse, like its ancestor-mother social epidemic of corruption, has remained stubborn and refused to go away.
There is ambiguity about what constitutes Naira abuse. Section 21 of the CBN Act 2007 clearly defines Naira abuse and prescribes various punishments to deter citizens from abusing the Naira. They include – spraying banknotes at events; writing on banknotes; stapling banknotes; tearing banknotes; dancing or stamping on Naira; defacing the bank notes with substances or ink, oil; selling currency banknotes; mutilation of the Naira note; money bouquets. However, law enforcement has been lax. It is commonly believed that the laws against Naira abuse are either symbolic or desuetude because no one is held accountable, everyone gets away with it, and things have normalised.
The social phenomena of Naira abuse, especially the spraying of money, have become an epidemic in Nigeria. Lately, it is of significant concern. We have exported this to many parts of the world, and social media is replete with evidence of this in weddings and other social events attended by Nigerians in different parts of the world.
Malcolm Gladwell’s book, “The Tipping Point: How Little Things Can Make a Big Difference” explores the idea that social phenomena, like trends and epidemics, often reach a tipping point where they suddenly become widespread. He identifies three key factors that contribute to this tipping point: the Law of the Few (the idea that a small number of people have a disproportionate influence), the Stickiness Factor (how messages or ideas stick in the minds of people), and the Power of Context (how the environment influences behaviour).
Through engaging anecdotes and research, Gladwell illustrates how understanding these factors can help individuals and organisations create or manipulate trends and epidemics. The book emphasises the importance of attention to small details and understanding the social dynamics behind spreading ideas and behaviours. The fundamental concepts of the book about Naira Abuse are twofold. First, the cultural context or external environment provides the soil for bad or good behaviour to grow and spread. Second, key people with remarkable personalities can cause or stop social epidemics because of their social profile or social network.
There is a link between the recommendation of Malcolm Gladwell and the arrest and prosecution of Idris Okuneye better known as Bobrisky, a cross-dresser and social influencer, for Naira abuse, and the arrest and ongoing prosecution of Cubana Chief priest Pascal Okechukwu in connection with Naira abuse. Why selectively arrest the duo when everybody is involved in some form of Naira abuse either by trampling, spraying, mutilation or rumpling? It is nearly impossible for any law enforcement organisation to find and apprehend every perpetrator. Resources exist in limited supply. It is simple wisdom to begin with people who have disproportionate influence. This is perhaps what EFCC has done.
The first common ground is that both of them enjoy considerable social media influence whether for positive or negative reasons depending on your value system. These two cases, though similar, are following different paths. Bobrisky, in court, pleaded guilty and has since been handed six months imprisonment. Cubana Chief Priest did not plead guilty, so his case will go to full trial, putting the law to the test. This court case will assist us in providing answers to some critical questions: what are the societal ramifications of Naira spraying, and how can Naira misuse be proven? Is there a need to amend the existing law and make it more relevant to the challenge? Will this fresh wave of enforcement stop the epidemic of Naira abuse? Regardless of how the legal proceedings turn out, they have highlighted how important it is to take the triplet societal plague of poor social behaviour, Naira abuse, and their ancestor-mother corruption very seriously.
I have identified six pillars to control or stop Naira abuse: Fight corruption because it is an enabler for abuse of the Naira. The incestuous relationship between corruption, illicit financial transactions and Naira abuse is well established. Second, the government should deepen knowledge and change people’s orientation by embarking on mass enlightenment, people must understand clearly what constitutes Naira abuse and what the punishment is for such offence. Third, address cultural issues relating to Naira abuse through community engagement. People gifting money to celebrants on occasions is no crime but the manner of gifting is the issue. Fourth, the government should renew the push for digital transactions. Fifth, the government must strengthen the structures of law enforcement. It is not just a police and EFCC matter. The judiciary must upend its knowledge of the subject matter. Sixth, the government must be impartial and objectively enforce the law to change cultural norms and public behaviour that defaces the Naira. This may entail revisiting and improving the law.
The CBN, Police and the EFCC should study different models of changing public behaviour in the past and draw up a model and strategy to deal with the issue of Naira abuse, especially since it has become embedded in some cultures. Good examples abound abroad and in Nigeria. The British government employed various strategies to change public behaviour regarding spitting and other personal vices. Spitting in public places was prohibited by local bylaws or municipal regulations but it is social persuasion that gave the result. These laws serve as deterrents and can result in fines or other penalties for offenders. They launched public awareness campaigns, collaborated with community stakeholders, and monitored and enforced the law. However, most of all, they leveraged social norms and peer pressure to influence behaviour and encourage individuals to conform to accepted standards of behaviour by highlighting the societal consensus against spitting and certain destructive behaviours and showcasing positive role models who embody desirable conduct. Today, the practice of spitting publicly, urinating on the road corners, and other public nuisances are controlled to the barest minimum.
In Nigeria, good examples of efforts to change public behaviour can be seen around us. Most were successful to a greater degree. The government should revisit some of these campaigns and learn from them.
A model that seems to be working in Akwa Ibom State is the State Ethical and Attitudinal Reorientation initiative. Before 1999, the Akwa Ibom people experienced a severe social epidemic, “The Pervasive and prevalent House help Syndrome,” which gained widespread notoriety and led to the dubbed moniker “Ekaette” for nearly every female domestic helper. The administration of Obong Attah took up the task of reorienting the Akwa Ibom people’s mindset. He established the Ethical and Attitudinal Reorientation Commission (EARCOM) in Akwa Ibom and gave them the responsibility of raising public awareness about the importance of “minoring” vices and “majoring” in moral principles.
The struggle has persisted throughout the regimes, and Pastor Umo Eno’s present administration appears to be taking it to newer, more profound heights by hiring assistants for each ward and unit and charging them to carry out the commission’s work of value reorientation in remote areas. As bait, he is using the incentivisation and social support model, drawing on the country’s current food and hunger crisis to reach out with the message of value reorientation. Today, a negligible number of Akwa Ibom daughters are house helpers, and the majority are highflyers in the professions and business.
The success story of Akwa Ibom is a model that the federal government can replicate. Changing public behaviour requires a multifaceted approach that combines legislation, education, community engagement, social support and enforcement efforts. By addressing the underlying factors contributing to undesirable behaviours and promoting positive alternatives, governments can effectively shape public attitudes and foster a more socially responsible society.
CAC revokes certificates of NIPOST subsidiaries over ‘improper procurement’
The Corporate Affairs Commission (CAC) has revoked the certificates of incorporation of the Nigerian Postal Service (NIPOST) subsidiaries over improper procurement.
The subsidiaries include NIPOST Transport and Logistics Services Limited and NIPOST Transport and Logistics Services Company Ltd
In a statement on Monday, CAC said the properties were improperly procured, hence the revocation of certificates.
The development is coming three months after the discovery of an illegal transfer of N10 billion in restructuring funds released by the federal ministry of finance to the agency’s subsidiaries.
“The general public is hereby informed that the Commission, sequel to its powers contained in Section 41 (7) of the Companies and Allied Matters Act No. 3 of 2020, revoked the Certificates of incorporation of the below-mentioned companies because the same was improperly procured,” CAC said.
“These companies are NIPOST Transport and Logistics Services Company Ltd RC 1673881 and 2. NIPOST Properties & Development Company Ltd RC 1673971.
“By virtue of these revocations, the Companies are deemed to be dissolved and their assets and liabilities transferred to the Nigeria Postal Services established under the Nigerian Postal Services Act Cap N127 LFN 2004.”
On November 21, 2023, the house of representatives approved the winding up and deregistration of the subsidiaries of NIPOST, deeming their establishment irregular and illegal.
The house also directed an investigation into the N10 billion released by the ministry of finance for the proposed NIPOST restructuring and recapitalisation.
According to the lawmakers, if the funds were found to be misappropriated, it must be fully recovered.
This decision was part of the lower chamber’s efforts to enhance transparency and accountability in the public sector.
[OPINION] Qualifications To The Defence Of Self-Defense - Stanley Alieke
Every law in force in every jurisdiction; be it religious or secular law forbids and frowns upon the act of killing another man and this act of killing another man is dealt with the most serious punishment available which is killing the killer in return. But there is only one instance when a person is permitted to kill another person and he will not be punished for it. The only time you are permitted in law to kill another man is in self-defence; i.e. you are in a kill-or-be-killed situation and you killed your attacker in defence of yourself; you just have to do it to save your own life, ie in the defence of your person or self-defence.
In the case of Ekeozor V State (2016) LPELR-40951(CA) the court of appeal held that for an accused person to rely on the defence of self-defence, “it must be seen that the life of the accused was so much endangered by the act of your adversary that the only means of escape from imminent death was to kill the attacker”. See the case of Okordudu v state (2014)LPELR -23210(CA)
This legal permission to kill another person has qualifications and these are some of its qualifications;
Firstly, It must be in a kill-or-be-killed situation. This is to say that you are only permitted to kill in the defense of your person or your property.
Secondly, your response to the attack must be commensurate or equivalent to the force or threat by your attacker. For instance, you are only permitted to defend yourself with a gun or other deadly weapons if someone attacks you with a gun or other deadly weapons but you cannot defend yourself with a gun or with other deadly weapons against an attacker who is only confronting you with a fist or without any weapon. This second qualification therefore implies that your reprisal attack must be commensurate or equivalent to the perceived threat/ attack by your adversary if not you have committed murder if your adversary dies from the reprisal attack and therefore will not be permitted to rely on the defence of self-defence.
Thirdly, the reprisal attack or response to the attack against your adversary must be immediately or at the moment of the attack. For instance, if someone shoots at you, you must shoot back in that instant for it to amount to self-defence, if you have to wait later or to catch the person unaware before you shoot the person, it is no longer self-defence. Therefore, the response or reprisal attack must be in the heat of the moment for it to qualify as self-defence
Stan Alieke is an Abuja based legal practitioner and managing partner at Law Capitol, Abuja.
“Ignore The Banal Statement”: I Didn’t Call For Yari, Matawalle’s Arrest — Ozekhome
Calls Alleged Statement “Odious Inanity” And “Lie From The Pit Of Hell
In a strongly worded response, renowned Senior Advocate of Nigeria, Prof Mike Ozekhome, has vehemently denied authoring a statement that criticized the Economic and Financial Crimes Commission (EFCC) for failing to arrest former Zamfara State Governor, Abdulaziz Yari.
The alleged statement, which was published on the website Arewa Agenda, suggested that the EFCC was applying the law selectively and engaging in media trials.
Ozekhome, who has been a friend and lawyer to the current Zamfara State Governor, Bello Matawalle, for many years, described the statement as “odious inanity” and a “lie from the pit of hell.” He emphasized that he would never contemplate making such a “banal statement devoid of common sense and reasoning.”
The Senior Advocate, known for his advocacy of human rights, due process, democracy, and good governance for over four decades, questioned how he could be linked to a statement that suggests meddling in a matter that is subjudice or engaging in media trials and convictions before a proper trial.
Ozekhome called on members of the public to ignore the statement and its banner headline, labeling them as “utterly false, baseless, unfounded, and simply idiotic.” He referred to the authors of such statements as “faceless idle internet crawlers” and “millipedes of the internet,” borrowing a term coined by Nobel Laureate Prof Wole Soyinka.
The Senior Advocate further pointed out the absurdity of the alleged statement, noting that it quoted an earlier statement purportedly made by him about defeating the EFCC 11 times in court. He argued that he could not have been authoring a statement while simultaneously quoting himself.
Ozekhome urged the public to disregard the statement and consign it to the “trashcan of history where it rightly belongs.”
[OPINION] My takeaways from Access Holdings AGM - Etim Etim
I attended the second Annual General Meeting of Access Holding Plc last on Friday mainly to discern the direction of its new leadership and pick up the strategic focus of the institution in the years ahead. The return of Aigboje Aig-Imoukhuede to the Board as chairman last month created quite a buzz in the industry and within the institution. I take interest in studying leadership styles and so I was bent on attending this AGM. As a former staff, shareholder and student of strategy, I took in every moment of the two-hour meeting, listened to every word spoken, drew conclusions and and came away with six takeaways. Number 1: In all the comments, including the opening and closing prayers, it was clear that the shareholders have deep-seated faith in their new chairman, Aigboje Aig-Imoukhuede, and the company’s leaders, Bolaji Agbede, the acting Group Chief Executive and Roosevelt Ogbonna, the managing director and chief executive of the bank, as well as others.
There were loud cheers from the shareholders as the directors walked in, an understandable exhalation after a painful and mournful period. Aigboje himself went around shaking hands and hugging the shareholders. It was clear that the investors habour no apprehensions about the direction of their company; not a sense of it veering off from its time-tested traditions and the foundation that created the financial powerhouse which it has become. No doubt that they backed and passed all the resolutions overwhelmingly, thus paving the way for the bank to meet and surpass the N500 billion minimum share capital base.
Two, I could glean deliberate efforts on the part of the chairman to project Bolaji and Roosevelt as the new leaders of the banking group; or should I say, he was careful not to overshadow them. I will mention an incident to buttress my point. After the meeting, Aigboje and Bolaji were facing two different cameras simultaneously, talking to two different group of journalists. In fact, I think Bolaji had even started her press conference before the chairman was ready. The bank’s communication team moved back and forth between the two to ensure that everything went well. I took it all in, remembering my days as a reporter. I was a business journalist covering events like this for many years and later, a PR executive managing things of this nature for a long time. I can’t recall seeing the chairman (least of all, an owner-chairman) and the CEO facing different cameras for post-event media briefing. In fact, it is the CEO that would be running around gathering the press for the chairman, who would first appear uninterested, before he saunters in with a magisterial arrogance! I think Aigboje just wants to encourage and build confidence in the team as emerging global leaders, even if he has to step behind.
Three, and this is very important. Raising capital has never been a problem for Access Bank, and I can’t see it as one this time. Between 2004 and 2007, the bank raised an equivalent of $2 billion when Aigboje was the CEO in his 30s, leading the same team which is in charge today. Now, the bank is seeking to raise an equivalent of $300 million (N365 billion) from a significantly larger base. With a more visible brand and bigger footprint across Africa and beyond, I don’t foresee Access not meeting this milestone within a record time. Speaking to journalists after the meeting, Aigboje disclosed that Access Holdings will deploy digital technology in raising its capital. ‘’In 2004, we went around Nigeria and it led to the democratization of the capital market. Other banks followed suit and the number of banks’ shareholders increased in manyfold and our capital market grew immensely. This time, we have the digital technology that we would deploy fully’’, he said.
Four, the Group’s decision to go by Rights Issue signals the its inclinations to protect the retail shareholders from dilution, and this is the promise Aigboje and Herbert made to them in 2002. They duo had told the shareholders then that they would always be carried along as the bank grows. Integrity is key in life. Five, there was a noticeably active participation of women shareholders at the AGM. In fact, the meeting commenced with the chairman requesting a shareholder, Mrs Bisi Bakare, to step forward and decorate him with the bank’s lapel pin to symbolize his assumption of duty. That simple, but touching task essentially set the tone for the rest of the event as the women shareholders participated fully and actively in the meeting. The roving microphone got to them more often than the men, or at least in equal measure, and the women expressed themselves loudly and clearly. The bank continues to lead in gender issues, just as in issues of sustainability and diversity.
Six, and this is my final takeaway, Access continues to dream big and Access people sure believe in their dreams. When I joined as a staff in 2008, the dream then was to make the bank one of the five biggest in the country. It appeared as a pipe dream then. But only four years after, it was achieved! Now, by reiterating to the shareholders that Access Holdings will become Africa’s best banking group (benchmarked against the South African giant, Standard Bank Group), the chairman noted that the company will be Nigeria’s best stocks in terms of returns in the nearest future. Another big dream! As a onetime US First Lady, Eleanor Roosevelt said, the future belongs to those who believe in the beauty of their dreams.
[OPINION] Road Map to A True Nigeria - Deji Osibogun
“Our advocacy should be to begin to develop the people and the land , make our youths productive ,initiate Agric projects that will engage our youths so food can be plenty and we can produce for the world , train them to acquire skills in thousands , free our women from the bondage of poverty by improving their trading skills into production .Afenifere ,led by Fashoranti ,Adebanjo and Akintoye and all Yoruba groups must be tuned to this new campaign for our land”
Self determination , Restructuring or even parliamentary style of governance will collapse or will be impossible to achieve with the present political class of leadership .
From ward level , in the different parties ,to the Local Government ,state and National Assembly membership ,we don’t have good quality minds that think of the populace like in the early days of Western Region .
Until we consciously especially in YORUBALAND begin the process of insisting on good governance , accountability in office ,and rapid promotion and development of the minds of our people and their environs in a glaring and commendable way and fashion to the admiration of other nationalities we shall spend a long time in the trenches and maybe be buried there.
Our advocacy should be to begin to develop the people and the land , make our youths productive ,initiate Agric projects that will engage our youths so food can be plenty and we can produce for the world , train them to acquire skills in thousands , free our women from the bondage of poverty by improving their trading skills into production .Afenifere ,led by Fashoranti ,Adebanjo and Akintoye and all Yoruba groups must be tuned to this new campaign for our land
Churches and Mosques must be made to have a production and human development skill acquisition centres to assist in the rapid development envisaged .
Another election mood will start in 8 months time and we won’t have been able to achieve anything by the time a second tenure campaign starts .
It is only when we on our own develop our land and free our people from the bondage of poverty can we begin to galvanise our Yoruba populace to see the value in the true and real Nation we dream of .
We should consciously and deliberately improve her land to be the envy of other nationalities ,it is only then that an overwhelming groundswell of support will truly emerge to demand for a true Yoruba Nation not the one built on this corrupt ,crime infested skeleton of our present political leadership that are groomed to loot ,trained to plunder ,and taught to ignore the wailings and ,cries of their people.
The people remain hopeless and defenceless in their hands as they continue to hammer the poverty nails in our heads and in the process extinguish our middle and upper class citenzry.
You need the People before you can have a Nation and right now we don’t have the People yet .let us start now or forever complain while we remain and die in the trenches .You can force a horse to a stream but cannot force it to drink water ..