Category: Thursday

  • Worst of times for global security and stability

    Worst of times for global security and stability

    When we read Charles Dickens’ “A tale of two cities” in 1960 as one of our West African literature examination books for that year, we did not quite appreciate what picture the author was painting about Europe towards the end of the 18th century when he wrote it was the best of times and it was the worst of times, we were all going to heaven and we were all going to hell and so on and so forth in contrasting images of those times.

    Our knowledge of pre- French revolutionary Europe was not quite deep. In any case, how could we in the backwoods of the world understand what happened in European history unless we were students of history? Like most of our subjects in pre and post-independence Nigeria, we were poorly taught including not only the sciences and mathematics, but also the liberal arts especially literature in English. We made do with memorizing whatever we didn’t understand because some of our teachers probably didn’t understand what they were teaching us. One teacher of mine trying to explain “cross gartered” stockings started twisting one leg on top of the other like a Yoruba masquerade until he fell to the ground to the  embarrassment of everyone. Explaining the pattern on the stockings of a noble man was simply beyond his ken!

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    Our English literature teachers in secondary schools in Nigeria in 1960 were Africans who had never stepped out of Africa before. Some schools were lucky to have English teachers teaching English language and literature. People reading our scripts after examinations probably would not have known about how superficial our knowledge of the subjects we offered was. But later on, from our travels, we understood the interface between most of our school subjects and lived experiences  in Europe and this may be why many of our children nowadays do very well in foreign countries when exposed to better facilities, museums  ,libraries,  laboratories, mass media and appropriate pedagogy. My generation and those before us struggled gallantly to acquire Western education despite the inappropriateness and inadequacies of it as we now find it.

    I hope my readers will permit this diversion from the core of my message. All I can say for these times is that we are living in the worst of times at least in most underdeveloped countries but most in particular, in Africa. We have never had it so bad! In my life time up to date, we have seen our country become independent and a sovereign nation.  Those of us young at that time inherited the deep state so to say. Our generation became professors, captains of industry and commerce, administrators, governors of states, permanent secretaries, military generals, state ministers and commissioners and even presidents before the whole state structure collapsed on us because of poor management, greed, corruption, roguery, selfishness lack of patriotic fervour and other negative things that can pull a country down.

    We have now thrown our country into economic downturn and doldrums and reduced our countries to playthings in the hands of operators of international finance and manipulators of racist global pecking order in which the fairer skin you possess, the better chance you have for personal and national survival and advancement.

    I read an article in an English paper that seriously said that the problems facing mankind is due to overpopulation, overdependence on governments, indulgence and too much freedom which we have taken for license and that only wars can solve our current global problems. The cynical writer went through several episodes of global revolutionary changes and catastrophes leading to drastic reductions of population by direct consequence of wars and collateral damages and through diseases and pandemics like the Spanish influenza that came after the human wastage of the First World War and recently the Covid-19 which killed seven million approximately in the world. Even though the writer welcomed advances in medicine that have cut the deleterious effects of diseases, he nevertheless suggested that reduction in deaths was not necessarily good unless accompanied by controlled population increases and not the geometric rise we have seen in global population which has become a ticking bomb that is waiting to explode anytime soon. The writer was convinced that unless we go through such global cataclysmic population reductions as experienced in wars and pandemics, we would continue to have the challenge of growth and development occasioning environmental abuse and serious and threatening climate change as we have in today’s world.

    The question then is should we welcome and embrace the civic and humane collapse of international order in which stronger nations attack weaker ones with all the ferociousness that modern weapons short of nuclear weapons  can inflict? The war of Russia on Ukraine, a smaller country just wanting to survive is a case in point.  Russia may justifiably feel threatened by an ever expanding NATO but unleashing ferocious war on a smaller and hitherto fraternal neighbour is not and cannot be justified under international law and protocol. The same goes for the genocidal war of Israel on Gaza and Lebanon and the unrestrained Russian bombing of Arabs in Syria in aid of so-called Syrian regime, whether provoked or not cannot be justified on human level.

    The internal violence in Myanmar between the government and rebel forces cannot be justified solely on preservation of national unity. How many people deserve to be killed because of the struggle for national unity? Does the dead unite with the living in this case? Thank God we don’t have many of these wars in Africa but we have ethnic wars fuelled by the search for precious metals needed in developed countries for electric vehicles’ butteries and mobile phones and other gadgets needed in the technological world. The DRC (Democratic Republic of Congo) for almost two decades has suffered because of such wars leading to loss of millions of souls there and neighbouring countries like Central African Republic CAR, Angola, Chad, Southern Sudan and Sudan itself. Even though Africa’s borders are poorly defined leading to feeling of irredentism in parts of the Maghreb and the Horn of Africa, for now, Africa has been largely spared of such wars that have sometimes ruined relations in Europe and South America. This does not permit smugness on the part of Africans that we are spared the destructive wars of other lands because Africa was not only drawn to both the first and second world wars, it will surely be drawn to any major breakdown of international order whose origin may be far from the African continent because the world is a global village.

    The United States increases its already overwhelming arsenal on the grounds of need to defend democracy in Taiwan against China while the Chinese are doing the same on the grounds of the need to bring Taiwan into union with the people on the Mainland of Peoples Republic of China.  The Chinese wants to dominate the South China Sea and rightly sees the Americans as interlopers. The Americans would resist the emergence of China as a global and economic power.

    The point to make is that the sky is big enough for all birds small and big to fly. Why should America arrogate to itself the role of global gendarme? The America of Donald Trump and its Make America Great Again (MAGA) mission of going it alone and doing whatever pleases it on global issues of the economy and the environment does not augur well for global peace. International order since 1945 has been maintained by well attested global system based on international law and justice and no one country should change it, because as fragile as it is, it has worked reasonably well all these years. North Korea even though demographically smaller than South Korea is building a nuclear arsenal to force a richer South Korea with its poorer self without asking the crucial question of what the people want. At the rate the world is becoming unsafe for non-nuclear powers, it is only a question of time before Japan, Germany, Brazil, Iran, Turkey, Argentina, Ukraine and possibly Saudi Arabia force themselves into the nuclear club.  Already, nuclear India is poised on jumping on nuclear state Pakistan in a war of mutual annihilation.

    If we are not careful, what we will have is a strategy of the grave in which the whole world unites to self-destruct. Unfortunately, even though we seem to foresee this scenario, it will take superhuman efforts and intelligence and international movement and willpower to summon the political courage and effort necessary to prevent global self-destruction. That is if before that time the environment has not collapsed because of the present sustained level of abuse and degradation leading to eventual self-destruction.

  • Tale of 753 duplexes and ‘ghost owner’

    Tale of 753 duplexes and ‘ghost owner’

    Things cannot get foggier than this. The people asked for the identity of the owner or owners of the sprawling 753 duplexes in the Lokogoma area of Abuja recovered by the anti-graft agency only to be hit by a long and windy explanation. I am sorry to say that the people have yet to get the much-sought clarification from the Economic and Financial Crimes Commission (EFCC).  Its explanation left much to be desired.

    It beats my imagination the sort of theory that the EFCC propounded over the ownership of the eye-popping estate. When it celebrated what it called the single-largest recovery ever in its 21-year history on Monday, it did so with relish. It hailed itself for doing what had never been done before. It should also have berated itself for not naming the owner of the property in its euphoria. Its explanation the next day, I beg to say, begs the issue. Who is the owner of the estate? Why is it difficult for EFCC to tell Nigerians who he is?

    It evaded these questions in a legal mumbo-jumbo under which it attempted to explain why it failed to discharge the simple task of telling the public what they have the right to know. EFCC is a public institution funded with tax payers’ money. Its loyalty is to the public and not to any tiny group of powerful people whose activities have been detrimental to the well-being of the country. It is this same group that it is trying to shield. It is a big surprise that EFCC will celebrate such a landmark recovery without considering it important to name and shame the owner of the property.

    I do not understand the game that EFCC is playing. Its statement and the affidavit in support of the motion it filed in court on November 25 are at variance. In the statement, it claimed that the owners of the property are not known, but in the affidavit, it linked former Central Bank of Nigeria (CBN) governor Godwin Emefiele to the estate. In law, an action in rem such as the one under which it brought the forfeiture application does not usually contain names of an individual or organisation since it is assumed that the parties are unknown. This is why it is a legal proceeding against a thing and not a person, as in the case of action in personam.

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    The purpose of an action in rem is defeated where the defendant/s is/are known. This is exactly what happened in this instant case in which EFCC wants the world to applaud it for making the single-largest recovery in its history. It would have been something to applaud if it had gone the whole hog and named the property owner, without recourse to any legal machination to becloud the issue. Its affidavit says it all, but its statement is an art in being economical with the truth. Why hold back in the statement after making full disclosure in the court papers? What is EFCC afraid of? There are no other deductions to be made from the affidavit than to link the 753 duplexes to Emefiele and his gang.

     I do not believe though that the agency is involved in a cover up. It could be that it is only being careful. I however hold strongly that, that care should have been exhibited in the affidavit and not in the statement. To me, as a layman, and taking the affidavit at its face-value, everything points at Emefiele as having a link to those duplexes.  The affidavit said inter-alia: “the commission, while investigating the alleged monumental fraud carried out by the immediate past CBN governor and his cronies, traced and discovered several properties reasonably suspected to have been acquired and or developed with proceeds of unlawful activities.

     “The property highlighted in Schedule A to this application (Plot 109 Cadastral Zone C09, Lokogoma District, Abuja, measuring 150,468.86sqm), the said duplexes (italics mine), is one of the said properties recovered…” What is there more to say about the ownership of the property? The facts speak for themselves (ipso facto). If these averments have not spoken for themselves about the ownership of those duplexes, then I do not know what will. How can an individual own 753 duplexes in a land where many sleep under the bridge? It is insane.

  • Much ado about tax reforms

    Much ado about tax reforms

    The Tax Reform Bills continue to generate heat because of the position of some that they are meant to pauperise them and their people. I do not wish to reduce the debate to ‘us against them’ or ‘one region versus the other’, which obviously is the intent of many opposed to the bills. They want to pitch one section of the country against the other over an issue which can be ironed out without rancour or calling themselves out. There are gains in the bills. It is just for those opposed to them to cool down and see the positive sides. The bills may not be perfect, but they are a good place to start from to revitalise and rejuvenate the tax system.

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    The truth is the payment of tax is lopsided against the poor. Many of the rich evade tax. You only see them rushing to pay, often in arrears, when the need arises. This must stop. The poor cannot continue to carry the rich. It is the other way round in developed economies. Also, there is no need for the row over value added tax (VAT), whether it is shared on the basis of consumption or production. What is important is that no part of the country will go empty handed. More details on this topic in future.

  • Banks and their funny game

    Banks and their funny game

    What have I not seen in the hands of Guaranty Trust Bank, now known as GTCO in the past few days? I reported last week that the bank credited my account with N20000 out of the N30000 failed transaction for which I was debited on November 4. I did not write about another N100000 failed transaction which I had earlier reported to Sterling Bank as I was awaiting their finding.  Upon investigation, GTCO was again blamed for the problem.

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     Armed with a document from Sterling, I took up the issue with GTCO on November 28. The bank denied any wrongdoing, only for it to credit my account on the night of the same day to the tune of that amount. Meanwhile, it is saying nothing about my N10000 balance. I am writing this on December 4, a whole 31 days after the failed N30000 transaction. I am tired of writing about this week in, week out, but if it is what it takes to get my money bank, why not?

  • Bankers or bandits?

    Bankers or bandits?

    Money is a promise. It binds dreams both to the tangible and intangible, yet in finance, this covenant is often betrayed. The banking halls, once the sanctuaries of trust, thus become arenas of exploitation where poor, unsuspecting depositors are fleeced by systems as ravenous as they are opaque.

    Beneath the glitter of marble countertops and varnished boardrooms, subsists a rot so pervasive it calls into question the very foundations of Nigeria’s financial edifice.

    It is against this backdrop that the Nigerian House of Representatives sought to enact a glimmer of accountability. In October 2024, lawmakers deliberated on a bill to amend the Banking and Other Financial Institutions Act, targeting the pervasive plague of fraudulent deductions from customers’ accounts. But within banking boardrooms, this attempt at reform was welcomed with sneers.

    A prominent banker quipped that the bill was “dead on arrival,” while others in polished suits laughed knowingly. History lends weight to their cynicism—similar legislative huffs have resulted in no meaningful curb on the excesses of these financial institutions. Lawmakers have lamented the predatory practices of commercial banks in 2020, 2022, and now in 2024, in the tenor of armchair Trotskys with a hankering to mount the soapbox just to spout off and be seen. The bankers, in their private theatre, deride them knowing that the Nigerian state, so fond of its regulatory theatre, will eventually bow to moneyed interests.

    This cynical certainty is not misplaced. The Nigerian state has often barked at corruption, only to succumb to the seductive whistle of compromise. Due to its impotence,

    bankers engage in exploitative practices more brazenly – further burnishing a system designed to siphon wealth from the vulnerable to fete the powerful.

    The poor and the working class bear the brunt, trapped in a web of illegal deductions, exorbitant loan interest rates, and a lack of transparency. For them, survival is a daily negotiation, and the banks have mastered the art of weaponizing this desperation.

    The litany of abuses begins with illegal charges. For years, Nigerian banks have perfected the art of surreptitiously deducting funds from customers’ accounts under the guise of service fees. These deductions often go unnoticed, their cumulative effect devastating to the small depositors who rely on every naira to survive. When questioned, the banks offer convoluted justifications, or worse, silence. This malpractice feeds a cycle of distrust, yet most Nigerians, shackled by economic dependency, find themselves unable to sever ties with these institutions.

    Compounding this is the suffocating weight of high-interest loans. In 2024, as the Central Bank of Nigeria raised benchmark rates to combat soaring inflation, banks gleefully passed on the burden to borrowers. Interest rates on loans now climb as high as 35%, with hidden fees inflating the effective rates even further. Small business owners, farmers, and middle-class Nigerians seeking to sustain their enterprises or cover emergencies are caught in a financial stranglehold. These loans, far from being a lifeline, often become chains, dragging borrowers deeper into poverty while enriching executives with bonuses tied to bank profits.

    Beyond the predatory interest rates lies a darker underbelly: outright theft and embezzlement. The recent revelation of a former  bank manager orchestrating a digital N40 billion fraud underscores the systemic vulnerabilities. For years, this individual exploited his position to siphon funds into personal accounts, his audacity matched only by the institution’s negligence. It was only the persistence of an aggrieved customer that unraveled the scheme.

    Across the banking sector, insider borrowing has equally become an endemic problem. Executives grant themselves and their associates loans under favourable terms, often with no intention of repayment. These loans, euphemistically classified as “non-performing,” are eventually written off, the losses absorbed by depositors or the public purse. The Nigerian Deposit Insurance Corporation (NDIC), designed to protect depositors, frequently steps in to bail out these institutions, effectively socializing the losses while privatizing the profits.

    Nowhere is the rot more glaring than in the intersection of banking and politics. A certain former governor of the Central Bank of Nigeria (CBN) serves as a cautionary tale of unchecked power. Allegations of “monumental fraud” and his alleged linkage to the acquisition of a sprawling estate of about 753 properties in Abuja exemplify the nexus between financial malfeasance and political impunity. These assets, reportedly funded through illicit forex transactions, reveal the ease with which public trust can be converted into private gain. While the Economic and Financial Crimes Commission touts the recovery of these properties as a landmark victory, it does little to alleviate the systemic corruption that allowed such accumulation in the first place.

    The consequences of these malpractices are not abstract. They are borne by everyday Nigerians whose lives are entwined with a banking system that views them as prey. For the single mother trying to keep her children in school, the illegal deductions might mean a day without food. For the farmer seeking a loan to expand operations, the exorbitant interest rates could spell the end of a generational livelihood. For the entrepreneur, the opaque charges could be the difference between growth and bankruptcy.

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    The ripple effects extend beyond individuals. Small and medium-sized enterprises, which form the backbone of the Nigerian economy, are stifled by a lack of affordable credit. Agricultural projects languish as funds intended for their support are siphoned off by corrupt officials and bank insiders. The resulting stagnation perpetuates a cycle of poverty, unemployment, and underdevelopment.

    The persistence of these issues is a testament to the failure of Nigeria’s regulatory and judicial systems. The CBN, ostensibly the guardian of financial probity, has often been complicit, either through inaction or deliberate neglect. Regulatory bodies lack the teeth to enforce compliance, while a culture of political patronage ensures that influential offenders face no consequences.

    Moreover, the structure of the Nigerian economy creates a near-total dependency on banks. For most citizens, alternatives are nonexistent. Digital transactions, foreign transfers, and access to credit bind customers to these institutions, making the prospect of a boycott or systemic reform seem almost unattainable. In a nation where digital transactions and loans have become lifelines, the suggestion of a banking boycott is akin to asking a starving man to forsake food.

    To restore faith in the banking sector, Nigeria must embark on a comprehensive overhaul – a measure the incumbent CBN governor, Yemi Cardoso, isn’t too timid to adopt perhaps. This begins with enforcing transparency in bank charges and interest rates. Regulatory bodies must adopt zero tolerance for illegal deductions and establish mechanisms for swift redress. Loan terms should be standardized to protect borrowers from exploitative practices, and interest rate spreads must be capped to reflect economic realities.

    Equally important is addressing insider corruption. Bank executives and board members found guilty of embezzlement should face the full weight of the law, with personal assets seized to compensate victims. Political influences must be curtailed through legislative reforms that insulate financial institutions from external pressures. Public awareness campaigns can also empower citizens to hold banks accountable, fostering a culture of vigilance and advocacy.

    The Nigerian banking sector stands at a crossroads. It can continue down its current path, perpetuating cycles of exploitation and distrust, or it can choose reform, rebuilding itself as a bastion of transparency and equity. The choice, however, is not solely the banks’ to make. It requires collective action from regulators, lawmakers, and the public to demand a system that serves the people rather than preys upon them.

    Until then, the promise of money as a covenant of trust will remain, in Nigeria, a bitterly broken dream.

  • Lessons from Prime Minister Modi’s visit

    Lessons from Prime Minister Modi’s visit

    Indian Prime Minister, Shri Narendra Modi‘s state visit to Nigeria from 17-18 November 17 – 18 to “strengthen the current India-Nigeria Strategic Partnership” was but a renewal of over six decades of bilateral relationship between India and Nigeria dating back to 1958 – two years before Nigeria secured her independence from Britain. While the two leaders spoke of the immense potential for collaboration in the fields of trade, investment, education, energy, health, culture, Prime Minister Modi also offered India’s experience in agriculture, transportation, affordable medicine, renewable energy, and digital transformation to Nigeria.

    Nigeria has always benefitted from her close relationship with India. For instance, besides the support of India teachers and doctors which Nigeria enjoyed immediately after independence, it is on record that it was India that established the National Defence Academy in Kaduna and the Naval War College, Port Harcourt. Today there are about 60,000-strong Indian expatriate community in Nigeria and over 200 Indian companies with investment portfolio of over $27 billion.

    As post-colonial nation-states created by Britain to satisfy her greed for continued exploitation of resources of conquered and colonized territories, India and Nigeria share some parallels. Both are heterogeneous and multicultural societies where groups at different levels of cultural development were forcibly merged together without consultation. While Nigeria with a population of over 200m has about 350 ethnic groups, India with a population of about 1.4 billion has over 2000 ethnic groups. Sowing the seeds of future instability by Britain was not by accident. British officials, after all, had earlier boasted that it was their presence alone that had prevented the newly created states of Africa and Asia ‘from disastrous descent into turmoil of warring sects’. Institutionalising a federal arrangement for strange bed-fellows as a strategy for exploiting ethnic consciousness of federating ethnic nationalities was not out of place.

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     India is ethnically diverse with significant diversity within regions; almost every state and several districts have its own distinct mixture of ethnicities, traditions, and culture. But India, unlike Nigeria has been able to manage her diversity because India’s political elite saw their pluralism as strength and accepted the challenge of living together. They saw nothing wrong with tribes and made conscious effort to create states on basis of languages spoken by citizens such as Maharashtra, Punjab and West Bengal.

    The federal system of India provides equality to all the citizens as well as freedom of expression and freedom to practice their religion, etc. In terms of financial relations, India follows a system of fiscal federalism, where financial resources are distributed between the central and state governments. The constitution provides for the sharing of taxes and grants-in-aid to ensure financial autonomy for the states.

    Like India, our own 1957 constitution also laid down the framework for a federal system of government clearly defining the powers and responsibilities of the central and regional governments. The regional list includes subjects of local or regional importance, such as police, public health, and agriculture. The concurrent list includes subjects on which both the central and state governments can legislate. Fiscal federalism ensures or guarantees financial autonomy of federating regions.

    Sadly,  unlike India’s elite, our deceitful political elite undermined our own federal arrangement by unconstitutionally interfering in the affairs of the regions, and assaulting the tribes, the building block for African societies, claiming, albeit falsely, that it is possible to love Nigeria more than your family or your tribe which will be like climbing the palm tree from the top.

     Despite the provision of the 1957 constitution, the feudal lords in the north did not allow freedom of religion. The 1963 republican constitution, the first to be wholly midwifed by Nigerian elite provided the coalition partners an opportunity to insert a clause that would allow them to arrest and detain people without court order for expressing their opinion. The first victim was Obafemi Awolowo who was detained for criticizing Anglo-Nigerian defence pact.

    However, while India was busy setting up technology special schools (India Institute of Technology (IITS), the India Institute of Science (IISc) and National Institute of Technology (NITS) that attracted the best brains among India’s youths which has today resulted in Indian engineers heading most of the leading tech companies in the world, we were busy replicating federal government unity schools across Nigeria.

    India started the arduous task by first taming the feudal lords, who had to be replaced by the capitalist class who know how to mobilise the people to secure power. India did this without underestimating the intrigues of the metropolitan powers. As President Bola Tinubu moves from France to Britain and to Germany, he must not forget the duplicitous role of Britain as foremost promoter of ethnic consciousness, secret supporter of Fulani claim of ownership of Nigeria, and betrayer of  Biafra that had expected her support  as chief promoter of ethnic consciousness.

    India therefore emerged as a union of nationalist groups that respect the culture and values of federating members. Apart from Hindi, the official language spoken by about 40 percent, there are about 20 other recognized languages. They understand their challenges include taming the feudal lords who have to be replaced by the capitalist class. They did not underestimate the intrigues of the metropolitan powers in the guise of promoting ethnic consciousness. Or preventing the disintegration of areas amalgamated without consideration for their level of cultural development and favoured one group above the other.

    Patriotism for Indians is not about loving India. That comes naturally from the union of nationalities. They don’t have to set up unity schools, institutionalize quota system of admission to tertiary institutions or into bureaucracy, discriminatory admission marks for JAMB or decree a National Youth Service in pursuit of elusive unity.

    Instead, they set up competitive tech schools that attract the best of their youths. The result today is that most of the best tech companies in the world are headed by Indians.  Indian leaders don’t need to decree patriotism. The billions of dollars repatriated back to India yearly by their tech experts in high demand in Europe and North America speak louder than the voices of those turned their brainwaves to state policies.

    India’s visionary leaders didn’t have to mouth unity or patriotism. All they did was to invest in the education of their youths. The product of such schools are today in charge of India’s economy, ranked fifth in the world by GDP and in fact projected to become the third largest economy by the end of the decade.

    We institutionalized quota system of admission into the unity schools to accommodate those who as a result of lower scores could not compete with their counterparts. In the name of unity, we set up JAMB to accommodate those who have no business in the universities, and quota system of recruiting third class graduates at the expense of first class graduates into the bureaucracy.

    We don’t need to search far as to why India has become choice destination for Nigeria’s medical tourism, why our best graduates are moving in droves to seek greener pastures in Europe, Canada and USA and why India’s elite has been able to stabilize their democracy, their economy, sent satellite to the moon and became a nuclear power while our own elite remain the scourge of our nation.

  • Russian war on Ukraine: Need to avoid global conflict

    Russian war on Ukraine: Need to avoid global conflict

    The incoming president of the United States, Donald J. Trump during his recently won election promised to end the Russian war on Ukraine within 24 hours of being in the White House which should be on January 21, 2025. The world waits with bated breath for this magical solution and surprise for this complex conflict. No one expects a sudden end to a conflict that began incrementally from about February and March 2014 when Russia annexed the Black Sea port of Crimea which for hundreds of years had served as the Russian empire’s winter port connection to the world but which had been handed over to Ukraine when the Soviet Empire was dissolved in 1994. As part of a post-Soviet era settlement, it appears the Americans and its NATO allies had given the remnant of the Soviet Empire-Russia, that NATO would not expand into Eastern Europe which was previously part of the Warsaw pact but this promise was obeyed in its breach. NATO did not only expand into Eastern Germany, Poland, Romania, Hungary, Slovakia, Czech Republic, Bulgaria, and into former Soviet territories in the Baltic viz; Lithuania, Estonia and Latvia and now into neutral Sweden and Finland.

    It is argued that it is in this situation of Russia feeling it is hemmed in and surrounded that President Vladimir Putin is able to whip up nationalist sentiments in Russia in his war in Ukraine. Putin and many Russians do not see Ukraine as a separate country from their home because some of their former rulers were either Ukrainians or partly Ukrainian.  Substantial part of Eastern Ukraine is populated by ethnic Russians that President Putin likes to call “Russia abroad”.  This is a dangerous belief by Putin who seems to feel wherever there are Russians must be part of the Russian motherland! The case becomes more complex because it appears substantial portion of Ukrainians who are not ethnic Russians want a separate country of their own.

    Much lives have been lost in the war,  in fact hundreds of thousands of young men and others  have been lost as collateral damage during bombing raids and shelling and many millions of Ukrainians have been scattered all over the world in the USA and Canada and all over Europe and displaced in their own country itself.

    The peace plan being touted by Donald Trump and others want to concede the territories already captured by Russia to it which is about a quarter of the country in the East and South East. How would President Zelenskyy sell this to his compatriots without being seen as a traitor? On the other hand, President Vladimir Putin has drawn the red line beyond which he would never allow enemies to cross. It is not even likely he would accept the rump of Ukraine joining NATO. If this is the peace plan Trump wants to ram down the throat of Ukraine, my guess is that the war would continue until the Ukrainians are totally defeated or are made to surrender after the Americans under Trump cuts off their supply of weapons. Would America want to lose face among their allies in Europe and elsewhere where dependence on their commitment would mean nothing especially in such places like Korea, Japan, Southeast Asia and the Middle East?

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    This is one of the reasons why outgoing president, Joe Biden as a last minute action allowed the Ukrainian government to start using American long range weapons with about 190 kilometres range to hit the Russian army within Russia something he had said he would not do for months despite President Zelenskyy’s plea. When the first salvo of these weapons were released, President Putin asked his military to respond with a new kind of weapons with multiple warheads just short of nuclear weapons which apparently no anti-missile weapons in the west could intercept. He also said he would use these new weapons against any country that supplies the long range weapons used against Russia to Ukraine. Does he mean he was prepared to attack France, Britain and the United States without precipitating a global nuclear conflict and catastrophe? The world is at this brink and most of us do not know that a mistake in one little corner of Europe can again plunge the world into a global conflagration the cause of which we know nothing of.

    Yet, the problem seems so intractable that compromise seems impossible while absolute victory or defeat seems unacceptable to many involved in finding a solution. Meanwhile, the United Nations that was set up for times like this have been rendered impotent by the super powers who prefer to resolve conflicts in which they are involved outside the purview of the United Nations thus reducing the global body to a mere talking shop and international treaties and agreements are reduced to mere chiffon de papier. Even though we in the third world can smugly say we are not directly involved, but the world is a global village. What affects one affects all others. If there were to be war in which the global environment is poisoned through the use of nuclear weapons, in the words of President John F Kennedy “the living will envy the dead” because the environment would have been so poisoned by radioactive fallout that whatever plants or food that survived would not be fit for human consumption and civilization, according to the nuclear scientists, Albert Einstein and Robert Oppenheimer human civilization would have ended. This possible scenario and end to human civilization is what a few deranged politicians are toying with in order to satisfy personal or national ego. It behoves the leaders of countries not directly involved in Africa, Asia and Latin America to stand up for the rest of the world.

  • The more, the merrier

    The more, the merrier

    It is a thing of joy that that the old Port Harcourt Refining Company (PHRC) has started working again. It had been moribund for five years. Along the way, every plan to resuscitate it failed not because of a lack of will, but sabotage by those who never wanted anything good for the country.

    The saboteurs wanted the country to remain a perpetual importer of fuel, despite having four refineries then that could refine the crude that was and is still produced locally. With the coming of the Dangote Petroleum Refinery (DPR), the country now has five refining companies. Out of this lot, none was working until Dangote came on stream a few months ago.

    With PHRC joining DPR, the country now has two functioning refineries with enough capacities to give us fuel for domestic use and ease the pain of recurring product shortage which has caused Nigerians a lot of stress. The gain is now here. There is no gain without pain, so goes the saying. The PHRC has returned at a good time. Its return might have been timed to coincide with the working of DPR for good measure.

    There is a positive side to two refineries working simultaneously. The impact will be felt nationwide. Though the PHRC is for now working at 70 percent of its installed capacity, which it plans to raise to 90 in no distant time, in combination with Dangote, which is also yet to start working at full capacity, both refineries are capable of producing enough fuel for domestic use, with some certainly left for export.

    The return of PHRC is a blessing because of the timing of its return which caught saboteurs unawares. Unlike in the past when its return date was announced ahead of time, its managers probably changed tactics so as to beat the saboteurs in their game. The nation just woke up on Tuesday to the cheery news of the refinery’s return and the loading of products at the plant. It was ingenious of the men behind the refinery’s return. It is not everything that you plan to do that you talk about ahead of time.

    The Yoruba put it succinctly: it is not every apparel that you dry outside. There are certain things that you keep to yourself because we do not know which lizard has abdominal pains, even though they all lie on their stomachs. The managers have learnt their lessons after years of announcing the planned return of the refinery and not meeting the scheduled date. This is all over now. PHRC has bounced back and there is jubilation in the land. Beyond the euphoria, there is still much work to be done.

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    The refinery must remain working and the Nigerian National Petroleum Company Limited (NNPCL) must do everything to ensure that it does not become moribund again, to the extent of remaining idle for another five years. A lot of money and resources were pumped into reviving the refinery. These should not go to waste again because of mismanagement of the plant. The return of PHRC should be the beginning of a more effective and efficient supply of products across the country. Nigerians have suffered for too long for products which are in their backyards, yet are not easily accessible.

    The least NNPCL can do now is to ensure that the people get these products – petrol, diesel and kerosene – especially kerosene which is poor specific, as they say, at minimal price after deducting the cost of production and margin for profit. Dangote has already reduced its ex-depot price, that is the cost of selling to marketers to N970 per litre from N990. The refinery set for competition. This is why it is good to have many players in any business. The more they are, the better and merrier in terms of gains for the businesses and the end users.

    As President Bola Tinubu said while congratulating NNPCL on the return of PHRC, the next stop is to get Kaduna and Warri refineries back on stream too. It is pathetic to have four refineries and all will be down at the same time. The suffering for fuel was self-inflicted. It is high time the government removed this affliction once-and-for-all by getting the other refineries to work again. If they resume work, it will ease the people’s long time suffering. Their pain will be replaced with gain, enormous gain that will make them forget what they went through in the past for fuel.

  • Egberun Samu…

    Egberun Samu…

    Offenders try to run away from the consequences of their actions. In so doing, they forget that they can only run, but cannot hide. In my growing up days, elders usually cautioned us against the folly of such an action. “You cannot run away from your sin”, they said. Over the years, I have come to realise the truth in their advice. How long can any person run from his sin? How long? Former Kogi State governor Yahaya Bello is in a better position to answer this question.

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    After playing hide-and-seek with the Economic and Financial Crimes Commission (EFCC), he has finally given himself up to answer questions on his time in office. Bello reported to the EFCC Headquarters in Abuja on Tuesday, just as he did sometime ago in September. His latest action might have been informed by the Supreme Court’s decision that the EFCC is constitutionally established to try corrupt cases across board. With him now in EFCC’s net, it is left for the agency to come up with its case against him.

    The lesson in this episode is that no matter how long an offender’s legs are, they cannot be longer than the arms of the law. Egberun Samu, ko le sa mo Olorun l’owo, so goes the saying. Thus, Egberun Yahaya, ko le sa mo EFCC lowo. Meaning a thousand Yahaya cannot run away from EFCC.

  • What a ‘reversal’!

    What a ‘reversal’!

    On Tuesday, I got an alert from GTCO, crediting my account with N20,000. The bank claimed that the transaction was in respect of the N30,000 which I transferred from my Sterling Bank to GTCO account for which I was never credited on November 4. How can a N30,000 transfer be reduced to N20,000 when I never withdrew from the money? Anyway, how can I withdraw from funds that I was never credited with in the first place?

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    I do not know the parameters that GTCO used in deciding to credit me with N20,000 after debiting me for a failed N30,000 transaction. Part of the alert reads: RE-REV/926134431808926134104434062805*********0012E-2024-11-13

    Amount: NGN 20000

    Value Date: 2024-11-26

    Time of Transaction: 6:27:14PM.

    GTCO must be joking if it thinks I will accept N20000 for its failure to credit me with the actual amount of N30000 that I transferred to my account over three weeks ago. The bank should just credit my account with the right amount and apologise for wasting my time by its inefficiency. So much for a bank that parades itself as ‘Guaranty Trust’. What a misnomer!