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Tag: coin

  • NBC: A Niche Coin with a Grand Vision

    NBC: A Niche Coin with a Grand Vision

    Discover the fascinating world of niche cryptocurrencies through the lens of “NBC: A Niche Coin with a Grand Vision.” This article delves into how NBC aims to revolutionize a specific industry, highlighting its unique features and potential impact. Niche coins with grand visions often remind us of the value platforms. So, if you are looking for a reliable trading platform, you may consider Quantum AI.

    The Niche: Exploring the Domain

    In the realm of blockchain and cryptocurrencies, the notion of catering to a specific niche has gained substantial traction. As we dive into the domain that “NBC: A Niche Coin with a Grand Vision” targets, it becomes evident that this endeavor is not merely about creating another cryptocurrency but about addressing a unique set of challenges and opportunities.

    The niche that NBC aims to serve is the realm of sustainable supply chain management. In an era where environmental consciousness and responsible sourcing are becoming paramount, the need for transparent and efficient supply chains has never been greater.

    NBC steps into this niche with the aspiration to revolutionize how supply chains are managed. Its underlying blockchain technology offers an immutable ledger that records every transaction and movement within the supply chain. This transparency engenders trust among stakeholders, ensuring that products are sourced, processed, and transported in an ethical and sustainable manner.

    Moreover, NBC’s niche domain extends beyond transparency. It delves into the optimization of processes, reducing inefficiencies and minimizing waste. By facilitating seamless communication and data sharing among various nodes within the supply chain, NBC aims to streamline operations and ultimately contribute to a greener and more responsible ecosystem.

    The niche of sustainable supply chain management encapsulates complexities that demand tailored solutions. NBC acknowledges these intricacies and seeks to bridge the gaps that conventional systems have struggled to address. Through its blockchain-based approach, NBC sets out to empower businesses to make informed decisions, consumers to make conscious choices, and the industry to embrace a transformative shift towards sustainability.

    Addressing Niche-Specific Challenges

    One of the key challenges in this niche is the lack of transparency and traceability throughout complex supply chains. Traditional systems often struggle to provide accurate information about the origin, processing, and journey of products. NBC addresses this challenge head-on by utilizing blockchain’s inherent transparency. Every transaction, movement, and change within the supply chain is recorded on the immutable blockchain ledger.

    Another notable challenge is the coordination and communication among various entities within the supply chain network. Disparate systems and data silos can lead to inefficiencies and miscommunication, hampering the overall efficiency of the supply chain. NBC aims to overcome this challenge by offering a decentralized platform where data can be securely shared and accessed by relevant parties.

    Furthermore, the issue of counterfeiting and fraudulent activities poses a significant threat to industries such as sustainable supply chain management. Counterfeit products not only compromise brand integrity but also undermine the trust of consumers. NBC’s tamper-proof blockchain technology ensures that every step in the supply chain is verifiable, preventing the entry of counterfeit goods.

    Supply chain sustainability is yet another challenge that NBC addresses. The traditional linear model of production and consumption often leads to resource depletion and waste generation. NBC introduces the concept of a circular economy within its niche by incentivizing sustainable practices.

    NBC’s Market Potential and Adoption

    The market potential for NBC is substantial, driven by the increasing demand for transparency, accountability, and sustainability in supply chains. As consumers become more conscious of the products they purchase and the ethical practices of the companies they support, the need for a reliable and verifiable supply chain becomes paramount.

    Furthermore, NBC’s focus on sustainability and incentivizing eco-friendly practices is aligned with global efforts to reduce carbon footprints and minimize waste. The adoption of circular economy principles is gaining momentum across industries, and NBC’s integration of these principles within its niche positions it as a forward-thinking solution that resonates with environmentally conscious stakeholders.

    As NBC establishes itself as a trusted platform that enhances transparency, minimizes risks, and incentivizes ethical practices, businesses and organizations within the niche are more likely to integrate it into their operations. The seamless data sharing, automation, and secure communication provided by NBC’s blockchain technology could lead to enhanced efficiency and reduced costs, further driving adoption.

    Challenges do exist, however, such as the need to educate stakeholders about the benefits and mechanics of blockchain technology and how it applies to their industry. Additionally, addressing the concerns of scalability and integration with existing systems will be crucial for NBC’s widespread adoption.

    Conclusion

    Embrace the future of blockchain with NBC, a prime example of how niche cryptocurrencies can drive innovation. As NBC focuses on a distinct domain, it showcases the power of tailored solutions in transforming industries. Witness the unfolding of a grand vision that promises a new era of possibilities.

  • Fayose: The other side of the coin

    Those who desperately demonise Ekiti State Governor Ayodele Fayose tend to downplay the reality of the other side of the coin, meaning there may be reasons to lionise him.

    Fayose said some things recently that were food for thought. But those who refuse to see any sense in what he says missed the point. When former President Olusegun Obasanjo made a show of the inauguration of his Presidential Library in Abeokuta, Ogun State, on March 4, Fayose said from a distance: “Obasanjo will with a rotten mouth condemn PDP that gave him a platform to be president from prison for eight years. When we saw the picture when Obasanjo was released from prison by General Abdusalami, you would not allow such a man to sit beside you. We were made to pay him N10 million each as governors in 2005 to build his presidential library. I have written to him, return that money o Baba. How can Nigeria celebrate a corrupt man? He is the worst ever. He should put interest in the N10 million that I contributed. His time has come and gone; we are at the centre of the business now.” Fayose described the multibillion Naira library project as “the greatest fraud ever witnessed in Nigeria.”

    Contrast Fayose’s unflattering illumination with the flattering decoration by Acting President Yemi Osinbajo whose presence added colour to the event. Osinbajo described Obasanjo as “an African icon.”  Osinbajo said: “President Olusegun Obasanjo is therefore a gift in various ways being so intricately tied to the history of Nigeria, few years away from independence to the civil war and then head of state with the Nigerian people and then the transition to civil rule and then from retirement and farming and being twice elected as president of Nigeria and then handed over to another president. At every turn, he recorded his views and perspectives and especially of the times in various books, articles, seminars and now in this amazing monument to add credible life of service to our continent and to our world.”

    It is clear that Fayose provided a more clarifying picture, and helped to situate the event more unsentimentally. As a central player in an administration that is passionate about anti-corruption, Osinbajo’s perspective leaves much to be desired. It is understandable that Osinbajo was expected to be diplomatic at the event, but there are times when diplomatic language is carried too far.  Fayose’s unadorned account seems to make more sense for public consciousness.

    When President Muhammadu Buhari was busy trying to show that he was not so unwell in the United Kingdom as to be uncommunicative, it was Fayose who characteristically suggested a winning communication approach that was likely to reassure a reasonably sceptical Nigerian public.  Fayose said in a statement: “I advise the President to speak with me to convince Nigerians that he is hale and hearty instead of looking for outsiders to convince us. If the problem is looking for a credible person to help convince Nigerians, then Ayo Fayose is the best bet. Let the President speak with me. If I tell Nigerians that the President spoke with me, they will believe.”

    Fayose added: “Since they are eager for the President to speak to people, let Buhari talk to me. I can be reached on 08035024994. I am credible and Nigerians will believe me. They said he spoke to President Donald Trump; despite the hype, Nigerians were sceptical. Then they said he spoke to the King of Morocco; again, Nigerians were suspicious. Before we recovered from that, it was the AU President. A President that can speak with outsiders should be able to whisper or wave to his own people. The people voted him in and so presidential aides should stop giving the impression that Buhari has no respect for the electorate.”

    It is easy to see the amusing side of Fayose without seeing his serious side. That is why those who only see one-dimensionality when they look at him can’t see his other dimensions.  This is a character whose words and actions need to be construed creatively.

    When Fayose wants to mingle, he does so strikingly and with the enthusiasm of a man who is conscious of personal brand promotion possibilities. Those who criticise him for mingling don’t seem to appreciate his personal branding efforts.  When he is photographed with lowly locals playing the role of a good mixer and de-emphasising his gubernatorial status, his ready critics reduce his interaction with the people to the point of absurdity.  It would appear that other governors may project populism but not Fayose, simply because of the peculiarity of his populism.

    It is impossible to escape a superlative adjective for the emphatic success Fayose of the Peoples Democratic Party (PDP) achieved in the Ekiti State governorship election of June 21, 2014. His victory was fantabulous.  By his spectacular emergence, he apparently demonstrated the actuality of his self-definition.  Days to the historic election, he said in an interview: “You cannot take away the fact that I am a recurring decimal in the political equation of Ekiti State. You can’t take that away from me. You cannot equally deny that I am a grassroots person.”

    It is observable that the All Progressives Congress (APC), which Fayose defeated to become governor, has not recovered from his sucker punch. Those on the other side continue to respond to his administration with emotionally charged criticisms.  It is worth mentioning that domestic observers and foreign monitors endorsed the election that brought Fayose to power, employing terms that left little or no room for antagonism, such as “free,” “fair,” “transparent,” “peaceful” and “credible.”

    Fayose’s quotable quotes during an event to mark the 2017 International Women’s Day in Ekiti State on March 8 gave an insight into why he says the things he says in the way he does. He said: “They say I talk anyhow. Why do they behave anyhow?” His words also provided useful insight into why he mingles. Fayose said: “The power of the people is greater than those of us in power.”  It goes without saying that the country would be a much better place if those in power grasp the reality that power belongs to the people.

  • Two sides of a coin

    Two sides of a coin

    Next month, the University of Nigeria, Nsukka (UNN) will get new  Students’ Union Government (SUG) leaders. Students review the outgoing union leaders’ performance and speak on their expectations of the next leaders. JAMES OJO and JUSTICE NWAFOR (300-Level Mass Communication) report.

    Students of the University of Nigeria, Nsukka (UNN) will, on April 14, go to the polls to elect leaders for the Students’ Union Government (SUG) and halls of residence.

    Electioneering has started, with students asking for better deals from the aspirants. Some of the students are, however, worried by what they called “dismal performance” of the outgoing leaders. The outgoing union executive, they said, did not improve students’ welfare during their tenure. Others disagreed.

    The union was reinstated in December 2012, 10 years after it was proscribed following students’ demonstration.

    Kenneth Nwafor, a 300-Level Political Science student, said the outgoing union leaders did their best to serve students. “I believe the union leaders did not do badly. Though, perceptions may differ as regards the performance of the outgoing leaders. But, I think they have done well,” he said.

    Israel Igiri, a 400-Level Mass Communication student, said the outgoing executive lacked the capacity to engage students and management.

    He said: “If you compare this union with other students’ governments in other schools, you would notice a huge gap in terms of vibrancy and good ideas. I would not say they have done nothing so far. But, we need people that will raise the game and restore students’ confidence.”

    A 400-Level Philosophy student, Ugwu Emmanuel, said students needed a union that would place premium on their interests and welfare. “I think the incoming leaders should also put up platform for effective deliberation between the union officials and the students. Such platform would generate ideas required to move the union forward,” Emmanuel said.

    Kelechi Eze, a 400-Level Pharmacy, described the performance of the outgoing administration of the union as average. “I won’t say they have done very fantastically as a union,” he said, adding: “But it is not as woeful as some students want us to believe. They tried their best because this is the first time we are having students’ union in place since the past 10 years. In the area of transportation, they did their best, they may not have lived up to expectations in other areas.”

    Emmanuel Onu, a 300-Level Electrical Engineering, urged the incoming leaders to consolidate on the achievements of the outgoing administration.

    However since the union was reinstated, many factors have been attributed to its low start. For instance, the union’s ex-president, Chris Agu, described his successor as “a disappointment”, arguing the union lacked clear-cut goals.

    Reacting, the outgoing SUG president, Peter Orji, blamed the challenges facing the union on lack of students’ participation in its activities.

    Some of the respondents are of the opinion that the various scandals and suspension cases that rocked the outgoing administration accounted for reasons for the union’s unimpressive performance. Meanwhile, the Vice-Chancellor, Prof Benjamin Ozumba, it was learnt, is working to give the union the needed facelift by engaging union leaders in deliberation and decision making processes and making funds available for the union activities.

     

     

     

     

  • Alamieyeseigha: two sides of a coin

    Alamieyeseigha: two sides of a coin

    Former Bayelsa State Governor Diepreye Alamieyeseigha was a factor in the politics of Niger Delta. Fondly called Governor-General of Ijaw Nation by admirers, the death of the ebullient politician has created a leadership vacuum in the oil-rich state. Correspondent MIKE ODIEGWU revisits the life and times of the colourful politician, his achievements, controversies and implications of his death for the region.

    Like or hate him, the life and times of the former Governor of Bayelsa State, Chief Diepreye Alamieyeseigha, will forever remain a reference point in the history of the Niger Delta.

    This is because he meant different things to different people. While some people saw him as a symbol of corruption, others believe he is a victim of high-wire political manoeuvring and a villain in an anti-corruption drama written and stage-managed by former President Olusegun Obasanjo. Yet, others view the former governor as a man with good heart, generous and self-sacrificing.

    Alamieyeseiyha, the Ijaw Iroko, was cut down by death on October 10, 2015. He died suddenly at the University of Port Harcourt Teaching Hospital (UPTH), Port Harcourt, Rivers State after suffering health complications reportedly caused by hypertension and kidney failures.

    Since his death, condolence messages have been pouring in, in torrents. Prominent visitors and high-profile personalities and delegates have been frequenting the palatial houses of the late former governor in Yenagoa and Port Harcourt. Like the rivers, tributes to Alamieyeseiyha have been flowing unceasingly. People have, indeed, shown him posthumous love.

    He came to political limelight in 1999 when he became the first executive governor of Bayelsa State on the platform of the Peoples Democratic Party (PDP), after retiring as a Squadron Leader from the Nigerian Airforce. There was no infrastructure at the time Alamieyeseiyha took over the reins of power. Only a pathway led to Yenagoa from the East-West Road. Bayelsa was like a hamlet; lacking in all aspects of development.

     

    Architect of modern Bayelsa

     

    The former governor laid the foundation for the development of the state. Till his death, nobody, including the incumbent Governor Seriake Dickson, was able to beat the records set by Alamieyeseigha. At a time federal allocations were said to have hovered between N3bn and N4bn monthly, Alamieyeseigha undertook landmark projects that later defined and opened up the state.

    The former governor constructed the first modern road that leads to Bayelsa from the East-West Road. The dual carriage way, popularly called the Mbiama-Yenagoa Road, has until today remained the only means of accessing the state. Little wonder people still describe Bayelsa as a one-road state.

    The Isaac Boro Expressway, old Commissioners’ and Assembly Quarters, Tombia-Amassoma Bridge, the Niger Delta University (NDU), Creek Motel, Treasury  Building, Civil Servant Quarters, the State Secretariat, numerous school projects, Samson Siasia Sports Complex and NDU Teaching Hospital Okolobiri were projects initiated and completed by Alamieyeseigha. Apart from the sports complex, which is now in a decrepit state, no governor after Alamieyeseigha had thought it wise to build a befitting stadium in the state.

    Alamieyeseiyha was known for regular payments of bursaries. He also awarded scholarships to masters and doctorate degree students and youth and women empowerment. Most of the value-adding projects he could not complete before he was impeached in 2005 were abandoned by successive governors who were accused of using them as conduits to fritter away the state resources.

    For instance, people are amused at the inability of Alamieyeseigha’s successors to complete the 500-bed hospital at Imgbi Road, which was designed by the late former governor as a world-class facility to introduce medical tourism in the state. People are also surprised that successive governors abandoned a state library which Alamieyeseigha intiated but could not complete.

    In fact, Bayelsa is littered with projects which were abandoned halfway by Alamieyeseigha because of his impeachment. Observers believe that if such projects were completed by successive governors, they would have added to the beauty and development of the state.

     

    The man Alamieyeseigha

     

    People also remember Alamieyeseigha for his generosity. Despite his giant strides in infrastructural development, the late former governor was a man of empowerment, which is now known as stomach infrastructure. He empowered many people with raw cash and contracts. He was said to have freely doled out money to people who used to besiege the Government House with many demands.

    He reportedly had an army of wealthy politicians who belonged to his political school of thought; they are known as Alamcoism. Formed from his nickname Alamco, Alamcoism is a political movement that harps on the combination of physical and stomach infrastructures in governance as a means of reaching the hearts of the people. Alamco, no doubt, created many millionaires and perhaps billionaires from rural poor communities.

     

    Most popular politician in Bayelsa

     

    A few days before his death, Alamieyeseigha hosted Dickson and his entourage in his expansive compound at Amassoma, Southern Ijaw Local Government Area, when the governor came to inform him of his decision to seek a second term in office. He used the opportunity to refer to his political philosophy, Alamcoism.

    He said: “I have the memory of how we started and l claim that almost all the PDP members in this state graduated from Alamcoism. They are my products.”

    He recalled how he was drafted to the governorship race in 1999. He mentioned an elder statesman, Chief Thomson Okorotie, among the persons who mounted pressure on him to join the race.

    He said: “PDP in this state as you all know started in 1998. Most Bayelsans were in All Nigerian Peoples Party (ANPP) and they came to me that l should lead them. I was reluctant because l was receiving good salaries then. I was receiving $7000 a month then.

    “They came to my house four times to persuade me to contest for the governor of Bayelsa State. I succumbed to their request and since then l have been directly involved in the progress of the party in the past 16 years.”

    Despite his travails, the late former governor, also known by his chieftaincy title as the Olotu, remained the most popular politician in the state. Alamco dwarfed incumbent political office holders at any public event he attended. He was always welcomed by his people with thunderous ovation. In the midst of former President Goodluck Jonathan and Dickson, people prefered to identify with and to hail Alamco. He was not just popular, he had a cult following. He was no doubt a forceful and persuasive speaker.

    In fact, everybody who paid tributes to Alamieyeseigha recalled the solid foundation he laid in the state. Elders and contemporaries of Alamieyeseigha described his death as an irreparable loss of a great patriot.

    The elders under the auspices of the Bayelsa Elders Council (BEC) and the Bayelsa Development Forum (BDF) who spoke in Yenagoa referred to Alamieyeseigha as a defender of the oppressed, the champion of resource control and the crusader of the derivation principle.

    The Publicity Secretary of BEC, Chief Thompson Okorotie, said Alamieyeseigha in his tenure as a governor laid a solid foundation for the development of the state, including establishing the only state-owned Niger Delta University (NDU).

    While condoling with the family of the deceased, the people of Amassoma and the state government, the elders said Alamieyeseigha as a bridge-builder stood for the truth.

    Also speaking, the Secretary of BEC, Chief Banton Akpuruku, said Alamieyeseigha gave them hope for a united, virile and indivisible Nigerian state and laid a foundation for examplary leadership in the state.

    Akpuruku said: “He was indeed a leader of uncommon courage who gave the Izon generally a sense of pride in the committee of ethnic nationalities in Nigeria. His demise has left a huge vacuum that will be extremely difficult to fill.”

     

    Institutionalised money-sharing

     

    But, Alamieyeseigha was also criticised for institutionalising the culture of sharing money. The former governor was said to have doled out money to people, especially youths out of sheer desire to assist them. The gesture reportedly reduced youths to become beggars and it made them lazy; it created a societal ill that has persisted till now. Most persons in the state believe that government money must be shared and any leader who fails to pander to the sharing formula does not deserve the people’s support.

    In fact, pundits believe that despite criticisms against him, Alamieyeseigha remained a hero in his state and the Ijaw nation and unless current and incoming leaders rule Bayelsa with vision and passion for develooment, they will always take a back seat whenever Alamieyeseigha is in the picture even in death.

  • Alamieyeseigha: two sides of a coin

    Alamieyeseigha: two sides of a coin

    Former Bayelsa State Governor Diepreye Alamieyeseigha was a factor in the politics of Niger Delta. Fondly called Governor-General of Ijaw Nation by admirers, the death of the ebullient politician has created a leadership vacuum in the oil-rich state. Correspondent MIKE ODIEGWU revisits the life and times of the colourful politician, his achievements, controversies and implications of his death for the region.

    Like or hate him, the life and times of the former Governor of Bayelsa State, Chief Diepreye Alamieyeseigha, will forever remain a reference point in the history of the Niger Delta.

    This is because he meant different things to different people. While some people saw him as a symbol of corruption, others believe he is a victim of high-wire political manoeuvring and a villain in an anti-corruption drama written and stage-managed by former President Olusegun Obasanjo. Yet, others view the former governor as a man with good heart, generous and self-sacrificing.

    Alamieyeseigha, the Ijaw Iroko, was cut down by death on October 10, 2015. He died suddenly at the University of Port Harcourt Teaching Hospital (UPTH), Port Harcourt, Rivers State after suffering health complications reportedly caused by hypertension and kidney failures.

    Since his death, condolence messages have been pouring in, in torrents. Prominent visitors and high-profile personalities and delegates have been frequenting the palatial houses of the late former governor in Yenagoa and Port Harcourt. Like the rivers, tributes to Alamieyeseiyha have been flowing unceasingly. People have, indeed, shown him posthumous love.

    He came to political limelight in 1999 when he became the first executive governor of Bayelsa State on the platform of the Peoples Democratic Party (PDP), after retiring as a Squadron Leader from the Nigerian Airforce. There was no infrastructure at the time Alamieyeseiyha took over the reins of power. Only a pathway led to Yenagoa from the East-West Road. Bayelsa was like a hamlet; lacking in all aspects of development.

     

    Architect of modern Bayelsa

    The former governor laid the foundation for the development of the state. Till his death, nobody, including the incumbent Governor Seriake Dickson, was able to beat the records set by Alamieyeseigha. At a time federal allocations were said to have hovered between N3bn and N4bn monthly, Alamieyeseigha undertook landmark projects that later defined and opened up the state.

    The former governor constructed the first modern road that leads to Bayelsa from the East-West Road. The dual carriage way, popularly called the Mbiama-Yenagoa Road, has until today remained the only means of accessing the state. Little wonder people still describe Bayelsa as a one-road state.

    The Isaac Boro Expressway, old Commissioners’ and Assembly Quarters, Tombia-Amassoma Bridge, the Niger Delta University (NDU), Creek Motel, Treasury  Building, Civil Servant Quarters, the State Secretariat, numerous school projects, Samson Siasia Sports Complex and NDU Teaching Hospital Okolobiri were projects initiated and completed by Alamieyeseigha. Apart from the sports complex, which is now in a decrepit state, no governor after Alamieyeseigha had thought it wise to build a befitting stadium in the state.

    Alamieyeseiyha was known for regular payments of bursaries. He also awarded scholarships to masters and doctorate degree students and youth and women empowerment. Most of the value-adding projects he could not complete before he was impeached in 2005 were abandoned by successive governors who were accused of using them as conduits to fritter away the state resources.

    For instance, people are amused at the inability of Alamieyeseigha’s successors to complete the 500-bed hospital at Imgbi Road, which was designed by the late former governor as a world-class facility to introduce medical tourism in the state. People are also surprised that successive governors abandoned a state library which Alamieyeseigha intiated but could not complete.

    In fact, Bayelsa is littered with projects which were abandoned halfway by Alamieyeseigha because of his impeachment. Observers believe that if such projects were completed by successive governors, they would have added to the beauty and development of the state.

     

    The man Alamieyeseigha

     People also remember Alamieyeseigha for his generosity. Despite his giant strides in infrastructural development, the late former governor was a man of empowerment, which is now known as stomach infrastructure. He empowered many people with raw cash and contracts. He was said to have freely doled out money to people who used to besiege the Government House with many demands.

    He reportedly had an army of wealthy politicians who belonged to his political school of thought; they are known as Alamcoism. Formed from his nickname Alamco, Alamcoism is a political movement that harps on the combination of physical and stomach infrastructures in governance as a means of reaching the hearts of the people. Alamco, no doubt, created many millionaires and perhaps billionaires from rural poor communities.

     

    Most popular politician in Bayelsa

    A few days before his death, Alamieyeseigha hosted Dickson and his entourage in his expansive compound at Amassoma, Southern Ijaw Local Government Area, when the governor came to inform him of his decision to seek a second term in office. He used the opportunity to refer to his political philosophy, Alamcoism.

    He said: “I have the memory of how we started and l claim that almost all the PDP members in this state graduated from Alamcoism. They are my products.”

    He recalled how he was drafted to the governorship race in 1999. He mentioned an elder statesman, Chief Thomson Okorotie, among the persons who mounted pressure on him to join the race.

    He said: “PDP in this state as you all know started in 1998. Most Bayelsans were in All Nigerian Peoples Party (ANPP) and they came to me that l should lead them. I was reluctant because l was receiving good salaries then. I was receiving $7000 a month then.

    “They came to my house four times to persuade me to contest for the governor of Bayelsa State. I succumbed to their request and since then l have been directly involved in the progress of the party in the past 16 years.”

    Despite his travails, the late former governor, also known by his chieftaincy title as the Olotu, remained the most popular politician in the state. Alamco dwarfed incumbent political office holders at any public event he attended. He was always welcomed by his people with thunderous ovation. In the midst of former President Goodluck Jonathan and Dickson, people prefered to identify with and to hail Alamco. He was not just popular, he had a cult following. He was no doubt a forceful and persuasive speaker.

    In fact, everybody who paid tributes to Alamieyeseigha recalled the solid foundation he laid in the state. Elders and contemporaries of Alamieyeseigha described his death as an irreparable loss of a great patriot.

    The elders under the auspices of the Bayelsa Elders Council (BEC) and the Bayelsa Development Forum (BDF) who spoke in Yenagoa referred to Alamieyeseigha as a defender of the oppressed, the champion of resource control and the crusader of the derivation principle.

    The Publicity Secretary of BEC, Chief Thompson Okorotie, said Alamieyeseigha in his tenure as a governor laid a solid foundation for the development of the state, including establishing the only state-owned Niger Delta University (NDU).

    While condoling with the family of the deceased, the people of Amassoma and the state government, the elders said Alamieyeseigha as a bridge-builder stood for the truth.

    Also speaking, the Secretary of BEC, Chief Banton Akpuruku, said Alamieyeseigha gave them hope for a united, virile and indivisible Nigerian state and laid a foundation for examplary leadership in the state.

    Akpuruku said: “He was indeed a leader of uncommon courage who gave the Izon generally a sense of pride in the committee of ethnic nationalities in Nigeria. His demise has left a huge vacuum that will be extremely difficult to fill.”

     

    Institutionalised money-sharing

    But, Alamieyeseigha was also criticised for institutionalising the culture of sharing money. The former governor was said to have doled out money to people, especially youths out of sheer desire to assist them. The gesture reportedly reduced youths to become beggars and it made them lazy; it created a societal ill that has persisted till now. Most persons in the state believe that government money must be shared and any leader who fails to pander to the sharing formula does not deserve the people’s support.

    In fact, pundits believe that despite criticisms against him, Alamieyeseigha remained a hero in his state and the Ijaw nation and unless current and incoming leaders rule Bayelsa with vision and passion for develooment, they will always take a back seat whenever Alamieyeseigha is in the picture even in death.

  • Two sides of emotional coin

    We all like to talk about great emotional exploits, the forever-happy tales and tales of new hearts that have just been conquered. But this is just one side of the emotional coin. The other side which a lot of us like to sweep under the carpets features the intrigues, treachery and blackmail which are the strategies that help a greater number of people to survive in this highly competitive environment.

    While the exciting side of the emotional coin can be compared to that delicious and appetising menu, the other unsavoury side compares to the vomit. It is unpleasant in all ramifications of the word.

    So, the big question is why do people who should know better end up being victims of the emotional vomit? you ask. The truth of the matter is that to be a complete heart, you must taste the two sides of the emotional coin. Allison’s heart has been in and out of the emotional tunnel and, at a point, he felt he just needed a change of environment to get his sanity.

    “I relocated to a new neighbourhood about six months ago and I ran into an ex-girlfriend. I was so excited with the connection and in a short while old flames were re-ignited,” recalls Allison.

    He continued: “I thought she was the answer to all my emotional misfortunes and started to build a new future together again. Unfortunately for me, I did not know that she had another motive. One day, I went to work and left her at home. When I came back home about five hours later, I realised that she had moved out with not just her belongings but everything I had laboured for all my life.”

    Like Allison, Dotun is also a victim of an emotional vomit. For about two weeks, Dotun could not eat, drink or work properly. His body, soul and mind were in disarray because the girl he loved so much dumped his heart in the garbage. This made him a shadow of his former self and he is sick.

    Dotun is in bad shape and he keeps on vomiting. His younger sister gave him some medication and he felt better afterwards. By the time he got better, he realised that he was feeling very hungry, and to make matters worse, there was nothing to eat in the house. As he walked towards the bathroom, he saw the content he has vomited earlier on but sadly it had been polluted. This certainly cannot be consumed again, no matter how it is presented.

    Vomiting is the involuntary, forceful expulsion of the contents of one’s stomach through the mouth and sometimes the nose. This can be caused by a wide variety of conditions; it may present as a specific response to ailments like gastritis or poisoning, or some disorders ranging from brain tumours and elevated intracranial pressure to overexposure to ionising radiation.

    Interestingly, you can compare a failed relationship to these reactions. Going back to an ex, therefore, means going to an emotional vomit. It has become stale, offensive and unattractive. Why on earth would you want to go after emotion that should be flushed down the drain, why would you waste your time and energy pursuing something that once gave you nausea, why would you stuff your heart with something that stinks? Or why would you upset your stomach with an expired content?

    The truth of the matter is that emotional vomits, most times, are not worth going after. You can be sure that whoever or whatever situations that make them represent themselves have some ulterior motives.

    It is only a few relationships that enjoy a smooth experience and become a reference point for others. The normal process is to run into a few bumps on the emotional corridor, rediscover your potentials and see if you can still make it down the road.

    Usually you can be successful when you recognise the problems and challenges ahead of time. From this point, you get better when you have found lasting solutions to the problems threatening your emotional existence.

    You will definitely have a much better chance of getting past them once the answers have been found.

    Even though every relationship has its ups and downs, successful couples have learned how to manage the bumps and keep their love lives going, says marriage and family therapist Mitch Temple, author of The Marriage Turnaround.

    They hang in there, tackle problems, and learn how to work through the complex issues of everyday life. Many do this by reading self-help books and articles, attending seminars, going to counselling, observing other successful couples, or simply using trial and error.

    After six years, Deborah’s heart began to melt for affection. She also became desperate to settle down and have children with the new guy who found his way stylishly into her heart.

    Good News! Again, she was in a one-sided show and this dude just wasn’t ready for any emotional trap. On his part, Soji was just not ready to settle down and it was obvious that she was wasting precious time and emotional energy. For the records, he had repeatedly put off the wedding plans twice and this was the third attempt at making this marital dream a reality.

    Age was also not on his side and she began to wonder why he was being elusive at this stage. The chic in question was also intelligent, beautiful and hardworking. Now, he has suddenly cancelled all the arrangements, saying that he is just not ready for a serious relationship.

  • Is the coin still a legal tender?

    SIR: Under the colonial rule, local currencies which include coins were issued to ensure a balance in the currency structure as well as ease of transactions. It wasn’t until the 1991 currency re-structuring that people’s attitudes and acceptance of the coin began to gradually change, when the then military administration issued a new N50 bank note and turned 50 Kobo and one naira bank notes into coins. Many Nigerians saw it as an attempt to make the lower denomination unsuitable for transaction.

    No society can do without coins because of its role in facilitation of transactions. The coins reduced the tendency to approximate transactions to the nearest bank notes, makes change available for daily transactions; it was in the line of these that the Central Bank of Nigeria (CBN) re-introduced the coins on February 28, 2007, as part of the economic reforms. Then, N50, N20, N10 and N5 bank notes as well as N1 and 50 Kobo coins were re-issued with new designs, while a new N2 coin was introduced.

    The CBN directed that all banks should pay two percent of all withdrawals in coins, which means for instance, that a customer withdrawing N20,000 from his bank account would go home with N400 worth of coins. It also directed the banks not to accept coins as deposits from the public until further notice, saying that the coins needed to be kept in circulation for sometime. Before the re-introduction of coins, goods were priced in multiples of fives because of the dearth of coins and this affected price levels greatly. No goods could be bought for N1 because no such denomination existed, so prices of the lowest- priced goods were raised to N5 and N10. Unfortunately and sadly, we are back to that situation.

    The coin has suffered untold rejection and abuse from the public because Nigerians are not better educated and enlightened on the need to have it in circulation. The situation whereby the naira notes have been turned into writing sheets,  even by those working in the bank, stained by meat sellers and squeezed by buses and taxi driver has worsen the state of the naira hence the need for the use of coins to be enforced.

    If developed countries like the USA and China use the coin for their daily transactions, it shows its importance and advantages to the economy. As a matter of urgency, the CBN should send a bill to the National Assembly to criminalize the rejection and any form of abuse of the coin. Furthermore, the government should designate some business places and establishments as no–banknote-for-transaction. Places like Post Offices, toll-gates, licensing offices, school business centres, lottery centres, and cinemas etc should only transact in coins. Those are ways by which the government can intensify the campaign for the use of coins in all transactions so that the unemployed and poor Nigerians can survive.

    • Hussain Obaro

    Ilorin – Kwara State.

     

  • Return of Nigerian coins to circulation

    Return of Nigerian coins to circulation

    It would not be far from being right, if we insinuated outright that the origin of coins or the advent of coinage as a medium of exchange could be equated with the third stage in the evolution of money while the barter system and commodity money or indirect exchange came first and second respectively.

    The third stage is the development of metal money made from either gold, silver, alloy or nickel while the development of paper money came fourth in the evolution process. On 1st July, 1959 when the Central Bank of Nigeria (CBN) came into full operations, the CBN issued the Nigerian currency notes and coins while the West African Currency Board (WACB) notes and coins which were in circulation between 1912-1959 were withdrawn. Due to the misuse of the country’s currency notes and coins during war the notes were again changed in 1968.

    On 31st March, 1971, the former Head of State, General Yakubu Gowon (rtd) announced decimalisation of the Nigerian currency as from 1st January, 1973 when the major unit of currency which used to be £1 (one pound) no longer exists and that the major currency unit would be called Naira equivalent to ten (10) shillings as the minor unit would be called kobo while one hundred (100) kobo would make one Naira as recommended by the Decimal Currency Committee set up in 1962 which submitted its report two years after in 1964.Also in January 1973, coins were introduced by the CBN in denominations of ½, 1, 5, 10 and 25 kobo, with the ½ and 1 kobo in bronze and the higher denominations in cupronickel.

    In 1991, smaller 1, 10 and 25 kobo coins were issued in copper-plated steel, along with nickel-plated steel 50 kobo and 1 naira. On 11th February, 1977 a new note N20 bearing the portrait of a Nigerian citizen, late Head of State, General Muritala Ramat Muhammed. The new N20was the first currency note and the highest denomination so far issued by CBN to cater for the growth of incomes in the country and to immortalise Muritala who was the torch bearer of the Nigerian revolution of July, 1975.On 2nd July, 1979, new currency notes of three denominations, namely,N1,N5, and N10 were introduced bearing the portraits of three eminent Nigerians who were declared national heroes on 1st October, 1978 while in 1992, both the 50k and N1 notes were coined. To cater for the boom in economic activities and to facilitate an efficient payments system, the N100, N200,N500 and N1000 notes were introduced in December 1999, November 2000, April 2001 and October 2005 respectively while on 28 February 2007, new coins were issued in denominations of 50 kobo, 1 and 2 naira, with the 1 and 2 naira bimetallic, that is each coin consists of more than one metal or alloy, generally arranged with an outer ring around the contrasting center.

    All nations, both developed and the less developed settle transactions with notes and coins in their respective circulations with varying ratios of dominance, say,90:10% or 95:5% respectively while Nigeria operates only currency notes in a monocultural circulation. With reference to the disappearance of coins in the Nigerian circulation, I would like to draw attentions of former Nigerian Presidents, former Central Bank of Nigeria (CBN) Governors and former Finance Ministers including the incumbent trio of the stated office holders to ponder on the circumstances that premised the zooming off of the Nigerian coins due to administrative misconceptions, feeling ‘too big’ or reluctant to spend coins or inbuilt errors in circulating mechanism. As governments operate in continuum, I therefore directly task Dr Goodluck Jonathan, President, Federal Republic of Nigeria, Dr NgoziOkonjo-Iweala, Finance Minister and Coordinating Minister for the economy and the acting Governor, Central Bank of Nigeria (CBN) to devise ways of returning the Nigerian precious and prestigious metal monies in gold and silver to circulation in order to meet up with the world currencies standard.

    The main motive behind this write-out is premised on my transactions experience in London, England, November 2011 where I expended Great British Pound(GBP) coins and Shillings at different places –stores, malls, train and bus stations, London Eye and hotels as well as my recent coins transactions in France, United Arab Emirates (UAE), Germany and Switzerland in December 2013 while specifically in Basel, Switzerland and Dubai, UAE where I spent Euro coins to buy some items at shopping malls with change given to me in Swiss franc and UAE dirham coins respectively. At every transaction point with coins in Europe and Asia, my mind would pause…., flashed back home Nigeria where our twelve year old children never see or experience what is called a Nigerian coin and to come up with an illuminating strategy for restoration.

    To give coins a come-back, Federal Government of Nigeria (FGN), through Federal Ministry of Finance (FMF) and Central Bank of Nigeria(CBN) need to jointly revisit the proposal of the former CBN Governor, Professor Charles Soludo on redenomination of Naira in2007 or embark on direct coinage of N50-N5 polymer notes. In the same parlance and or in alternative, I would also like the trio of FGN, FMF and the CBN financial regulators to implement my research paper titled ‘Revisiting the Central Bank of Nigeria August 14, 2007 Proposal on Redenomination of the Nigerian Naira’ published in London by the Journal of African Macroeconomic Reviewin2011.In 2007,Soludo stated at a Bankers’ Committee meeting in Lagos that:‘‘…. we intend to restructure the entire currency by dropping two zeroes or moving two decimal points to the left from the currency, and issuing more coin denominations. This would entail a total currency exchange and phasing-out of all the existing denominations from August 1, 2008. Effectively, at the current exchange rate, this policy would mean that the Naira/US dollar exchange rate would be around N1.25 to US$1 then. All Naira assets, prices and contracts will be re-denominated by dropping two zeroes or two decimal points to the left with effect from this date’’.

     

    CBN in 2007 explicated how the currency would be redenominated. It is by dropping two zeros from the currency or moving two decimal places to the left as it occurred to Ghana in 2007 with four zeros dropped and Turkey in 2005 as six zeros shed while the name of the Nigerian currency will still remain the Naira. During the transition period, the existing naira will be referred to as the “Old Naira”, and the new one to be called the “New Naira” as presented in the table below. After the transition period, the word “new” may be removed while some commentators came up with a suggestion to keep all the Kobo in coins and all the Naira in notes. The aborted attempt of introducing N5000 note by Lamido Sanusi would have let N50 be the highest currency if redenomination should hold contrary to the proposed N20 as the highest note by Charles Soludo in 2007. Buttressing the redenomination proposal, CBN in 2007 contrarily stated that, adding of zeros to the currency is called decimalization, which in management of currencies, is the process of converting from traditional denominations to a ‘decimal’ system, usually with two units differing by a factor of one hundred (100) typically when Nigeria adoptedthe decimal system on 1st January 1973, changing from Pound, Shillings and Pence to Naira and Kobo.

     

    August 2007 CBN Proposed Table of Redenomination

     

    Old Naira

    (i.e, Existing Naira as at today)

     

    		 New Naira

    (as from the proposed August 1,

    2008)
    50 kobo Half kobo**
    N 1 1 kobo coin
    N 2 2 kobo coin
    N 5 5 kobo coin
    N 10 10 kobo coin
    N 20 20 kobo coin
    N 50 50 kobo coin or note***
    N 100 N 1
    N 200 N 2 **
    N 500 N 5
    N 1000 N 10
    N2000 * N 20
    N 5000 1 N 50

    Source: CBN (2007), * not issued, ** will not be issued, 1 writer’s inclusion.

     

    It was either the presidency of Late Umar Yar’Adua in 2007 that didn’t get redenomination attempt right with Soludo or Soludo was not convincive enough or the instilled phobia that the millionaires and billionaires would be relegated to thousandnaires and millionaires respectively or combination of the trio not knowing fully well that new values of their money would remain the same as the old ones. CBN in 2007 announced a four-point agenda designed to make the naira the “Reference Currency in Africa”, as part of the Financial System Strategy 2020 (FSS2020) and the elements of the agenda were: (a) currency redenomination, (b) adoption of inflation targeting framework for the conduct of monetary policy, (c) sharing part of the Federation Account funds in US Dollars to deepen the forex market and for liquidity management and (d) current account liberalization/convertibility and accession to Article VIII of the IMF.

     

    Benefits accruable from redenomination, and to be specific, from reintroducing the Nigerian coins to circulation include but not limited to the following: (a) to retain the beauty and cultivating the habit of using coins, (b) making pricing more efficient. Given the level of prices and low purchasing power of the coins, prices generally adjust in discrete jumps of five or ten Naira, rather than in Kobo. After redenomination, one kobo will have relative value and we can see the price of petrol go up from say, 70kobo to say, 71 or 72 kobo (coins)per litre instead of the jumps of N75 to N97 per litre and to the further hikes.

    Correcting this distortion in pricing structure can have enormous impact on the national economy, especially as we commit to low inflation. (c) As we aspire for an international financial status and to become Africa’s financial hub by 2020, redenomination will make for easy conversion to other currencies. As a ‘Reference Currency’, it will be easy for citizens of West Africa and other countries to convert to their national currencies and other currencies, (d) reducing the risks associated with carrying large physical cash as we eliminate large denominations with very little value, (e) as promoting a more efficient payments system for instance making Automated Teller Machines (ATM) part of our payment culture and decongesting banking halls. Instead of withdrawing N50,000 or N100,000 from an ATM, one N500 or N1000 notes of the ‘new naira’ will command exactly the same value respectively, and (f) discouraging the abuse of the naira as each naira note under the ‘new naira’ will have relatively high value, and coins will dominate transactions at the lower end ofthe market.

     

    In order to facilitate the return of the Nigerian coins into circulation, either redenomination of naira or direct coinage of N50-N5 polymer notes is recommended to FGN through Central Bank of Nigeria (CBN) for implementation. Finally, to redeem the Nigerian coins from pendulous existence and perpetual extinction, I would like to further advise the administration of President Goodluck Jonathan to see a necessity, as part of his transformation agenda, in according ‘Redenomination of Nigerian Naira’ a top priority at the National Conference with a reasonable numbers of Economists to consolidate with Federal Government delegates at the confab.

     

     

    Alao is a Lecturer in the department of Economics, Adeyemi College of Education (ACE),Ondo,Nigeria. rasheedalao74@gmail.com

  • Imoke and Obioma: Two sides of a coin

     

    As a historian, I find myself making illustrations from the past with the imagery that lends credence to the axiom that there are no new things happening in the world but old things happening to new people. This retrospective peep at the dimming past is not merely for the premium placed on antiquities and atavism as much as the search for eternal truths bequeathed to us by men and women who craved immortality. If you accuse me of anachronism in doing this, I will accept but I will charge you to forgive me and I will plead with you to merely extract the value of the period long gone and throw away the rest to the trash can of history. Going by this therefore, if we live worthily, we would leave reminiscences of virtuosity, gallantry, heroism, industry and such attributes that would be worthy of emulation by the future generations.

    In this way, the picturesque impression I have of His Excellency, Senator Liyel Imoke and his dear wife, Mrs. Obioma Imoke, is a striking resemblance to the 15th century joint monarchy of Ferdinand V, fondly called (the catholic), and his wife Queen Isabella of Spain.

    When Isabella of Castile got married to Ferdinand of Aragon, the two kingdoms became united and became the Spain as we know it today. This conjugal union in matrimony and imperial reconstruction put paid to the decay and rot brought about by ineffectual leadership as the duo pulled together their combined ingenuity to foster the growth of Spain to power and glory in Europe.

    Senator Liyel Imoke and his dear wife may not be joint rulers but the symbiotic affinity between them is exemplary, yielding beneficial results in the management of the affairs of Cross River State. In the nature of symbiotic relationships, both parties derive benefits from each other from their association. In this case, the benefits have a spillover effect as the people of Cross River State are reaping the fruits of this matrimonial understanding.

    I am sure it is for this reason of the understanding of the divine arrangement that the first lady brings sanity to bear in her relationship with her husband to model herself on her husband’s design and replicate his wave of thought. Doing this does not essentially deprive her of her individuality but makes her an original woman. A blessed woman is an original woman with attributes that will better her husband’s lot. It is especially so when the man is ingenious and it must take an ingenious woman to recognise her husband’s ingenuity and to drive the process of advancement alongside her husband’s efforts.

    That is why her Excellency says; “My role is to complement my husband’s role as governor of Cross River State.” It is from here that her Excellency, Mrs. Obioma Liyel Imoke derives the inspiration to do what she is doing. The main plank of her initiatives is based on her project called – Partnership Opportunities for Women Empowerment Realisation (POWER).

    When a man and his wife have lived together in peace with the greatest understanding no matter how differently they may be physically, their similarity in appreciation of issues would make them to eventually become so in-separable and so compatible that they could now pass for two sides of a coin. Honestly, this situation is rare and could only be achieved by the gift of philosophical mindedness and the fear of God. That was why in an overflow of emotions, the fear of God and the irresistible thoughts of the people’s well being, His Excellency, Senator Liyel Imoke was heard to have uttered these emotionally charged dictum- “the day my calling becomes a call to serve myself and not the people, may my political career come to an end.” And practicalised in his political maxim which spells the general good, His Excellency says; “My objective in governance is to take it down to those who need it most.” This tearful remonstrance could be the seminal origin for the sprouting of humanitarian consideration which Her Excellency must exploit.

    A receptive and fertile minded doyenne of first ladies, that gender sensitive amazon, that heroin in the struggle for the upliftment of the vulnerable members of society (women), Her Excellency, Mrs. Obioma Liyel Imoke, must certainly become an ardent crusader of her husband’s goodwill. She therefore mounts the banner of hope, crusading with the message and the agenda for the restoration, enhancement and the provision of facilities for the less privileged especially among women and children.

    These negative tendencies have so hamstrung the social, economic and political growth of women in our society that today, highly intelligible women like Obioma Imoke have begun to reject this situation for women. It is how to help overcome these artificial obstacles and move up the rung of the ladder that this woman of substance bases her theory of women emancipation. I therefore make no mistake when I refer to her as an amazon. Her warfare is not in physical arms but in ideas to conquer and reduce to the barest minimum the debilitating conditions of women and snap the barriers.

    Although this is a universal concept, her starting point is Cross River State. This could only be achieved through a whole scale campaign and sensitisation using a megaphone which is aptly ensconced in these evocative words – Partnership Opportunities for Women Empowerment Realisation (POWER).

    In attempting to bring this doctrine to fruition, Her Excellency is careful not to produce negative results. She herself being a product of hard discipline with an entrepreneurial spirit committed to a high degree of single-mindedness moderated by matrimonial subjugation, she abhors indolence and idle mindedness. So as much as she offers you her helping hands she expects you to use your own enterprising spirit to take off from that point to enable her shift attention to other people.

    POWER therefore is about value addition and she says;

    “It is a holistic way of empowering women. I believe in partnerships. What I set out to do was not to teach women new things but to help them take what they are doing to another level basically.”

    Going down deeper, she creates one initiative out of another. There is also an initiative known as – Giving Life Options to Widows (GLOW). She gives the objective of GLOW as such;

    “Basically, we do not just want to focus on women but this set of women who are disadvantaged just by the mere fact that their husband’s died, ostracised or stigmatised and they are not able to access funds and facilities the way other woman do. We want to make a conscious effort to get these things to them so that they can live without feeling that their lives ended when their husband’s died.”

    As a woman of many parts, this does not explain the full extent of her humanitarian nature. This initiative contains more of the welfarism which is the high point and the anvil with which her husband’s governmental philosophy rotates. In this agenda, there is more economic content than humanitarian. From this welfarist disposition of Obioma, there is a cascading towards her humanitarian considerations which finds full expression in rescuing abandoned babies. Meanwhile, her welfarist and economic agenda is structured for the emancipation of the less privileged.

    By this, she puts money in the hands of women to strengthen their businesses by making it easy for them to access finance through micro credit schemes. Since the inception of POWER, many women who benefited from this programme have experienced so much revival in their business in Cross River State, that it has become a clarion call across the country.

    In politics, she is an ardent crusader for the realisation of Affirmative Action Agenda by which women are seeking to have more recognition in politics by being given more room in elective and appointive positions in government. These efforts are having so much break through already in Cross River State because of her husband’s inclination towards it. So far, Cross River State is one of the states that have given the highest recognition to women in an attempt to achieve this Affirmative Agenda.

    May the women of Cross River State rise and give kudos to Her Excellency for this fight on their behalf. In the last local government counsellorship and chairman primaries each ward produced three female counselor candidates while each senatorial district produced one woman chairmanship candidate. The promise that this arrangement holds for the women in the state is that through the efforts of Her Excellency blessed by the fact that her husband Senator Liyel Imoke is very amenable to positive change, the agitation of the women in a few years time would yield such positive results that Cross River may produce the first female Executive Governor in Nigeria. Her Excellency has commended her husband Senator Imoke for having provided the enabling environment and the needed support to drive her projects. That is why the title – Two Sides of a Coin, became appropriate as their successes have been complementing each other. And when the house is not divided against itself, it will stand. Thank their Excellencies for another lesson learnt from their great souls.