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Tag: Emir of Kano

  • Emir of Kano gets new grandchild

    Emir of Kano gets new grandchild

    The Emir of Kano, Alhaji Muhammadu Sanusi II, welcomed a new grandchild recently as his daughter, Shahida, and her husband, Abdulkadir Baba-Ahmed, had their first baby. Friends, family members and well-wishers are celebrating the arrival of the baby whose pictures are everywhere on the internet, particularly the Instagram where Shahida herself was tagged.

    The couple tied the nuptial knot on January 1 this year in a fun-filled ceremony as Shahida said “I do” to Abdulkadir, son of Lawal Daura, the Director General of the Directorate of Security Service. The glossy ceremony was said to have lasted not less than seven days in a display of affluence and love.

  • Only 20% Muslims access financial services – World Bank 

    Only 20% Muslims access financial services – World Bank 

    In spite of the ever-growing number of Islamic financial products, less than 20 percent of approximately 1.6 billion Muslims population use conventional banking worldwide.

    However, the increase in the number of Islamic financial products has been identified as being capable of closing the huge financial gap that exists in the Muslim world.

    World Bank Vice President and Treasurer, Ms. Arunma Oteh made this disclosure on Thursday at the World Bank/Islamic Financial Services Board High Level Seminar on Islamic Finance in Washington DC, USA.

    Speaking on the growth of Islamic financial products around the world, Oteh who huddled with the former governor of the Central Bank of Nigeria (CBN) and now Emir of Kano, Muhammed Sanusi 111 said: “less than 20 percent of approximately 1.6 billion Muslims population use conventional banking worldwide.”

    According to her “this statistic is scary but with the emergence of Islamic financial products there is the tendency that many Muslims will access financial services of their choice.”

    During the last fiscal year, the World Bank she said issued $63.5 billion of bonds across different markets, 22 different currencies and some of them innovative from the developing countries around the world.

    The World Bank, she said: “Also manages about $170 billion assets for 62 clients and our own institution. In some cases, people will like to access financial services but they are unable to do so because of factors that are prohibitive to their faith or lack of financial institutions near their area or lack of trust of financial services providers. Many Muslims around the world refrain from actively accessing the conventional financial services around the world due to their beliefs.”

    She described Islamic finance as “a tool for achieving the Sustainable Development Goals (SDGs) with Islamic investors applying the ethical and quantitative measures in their investment decisions.”

    According to Oteh, “Islamic finance is uniquely well suited to promote infrastructure development which is critical in promoting many of the SDGs from clean water to energy.”

    In his remark, the Emir of Kano, Muhammadu Sanusi lamented that deficient infrastructure cost in Africa results in two percent reduction in growth each year. However, the growing Islamic financial products he said presents “strong potentials in closing the huge infrastructure gap and there is the need to explore all alternatives in funding the SDGs.”

     

  • Emir Sanusi calls on Fed Govt to sell refineries, oil assets

    Emir Sanusi calls on Fed Govt to sell refineries, oil assets

    The Emir of Kano, Mohammed Sanusi II, on Wednesday joined several prominent Nigerians and industrialists calling on the Federal Government to sell out some national assets to enable the country wriggle out of recession.
    Speaking in Lagos, at the launch of the 2016 Banking Sector Report published by the Afrinvest West Africa Limited, Sanusi said one of the options available to government is to sell down some oil assets and the refineries to private sector operators that will pump dollar into the economy, so as to strengthen the Naira.
    He said: “One option is to sell down some assets, sell down some refineries in a manner that does not hurt your strategic interest. Sell down some oil assets, sell down some refineries, in a transparent manner that gives you value. You can also have options to buy them back later.”
    According to him, such steps would lead to increase in foreign exchange inflows into the economy, which is what the economy needs right now.
    He also urged government to create level playing field for both Nigerian and the foreign investors.
    “And do what I said which what are the kind of policies that will attract foreign investors. We have to get to a point when we welcome investors of all nationalities, who are willing to set up production plants here to turn our own raw materials into finished goods. Rwanda, Ethiopia have all done that very well.
    “There is nothing we are saying that haven’t been done by other African countries. We need to go into investment-driven model. China has grown into investment-driven model. Nigeria needs to move into in to investment-driven model,” he said.
    Speaking further, he said: “Any model that tries to chase away foreigners will not create jobs for the youth. We need to be an economy that creates opportunity for the youths. It also includes the independence of the Central Bank of Nigeria (CBN). I love the finance minister, but when the CBN said we are not reducing interest rate, I said, yes”. This, he explained was that the CBN should continue to protect its independence.
    Sanusi said Nigeria’s growth have over the years, been driven by rising commodity prices, and the rising domestic debt that went into consumption.
    “So, real wages basically kept increasing. In 2011, with oil prices at $110 per barrel, we were spending 80 per cent of government revenues on personnel cost. It was not sustainable, it was a problem I identified but no body listened. That model has reached the limit of its capacity. How much can you tax people to make up? There is a limit to what you can borrow. Now, we are spending 35 to 40 per cent of your revenues on debt services,” he said.
    “I think it is a positive thing, when the fiscal authorities and the many people in the private sector said they wanted a lower rate of interest rate. I was concerned that the CBN will succumb to pressure. And the fact that the CBN did not succumb to the pressure is a fact that it is beginning to claim its independence which is a very positive thing. And these are economic questions, you make choices. I can see why the CBN does not want to lower interest rate at this time.
    “If you lower Monetary Policy Rate (MPR) at 100 or 200 basis points today, it is not going to lead to rapid increase in credit growth. Its not. You will not see an increase in credit growth that will reverse downward trend in output by lowering MPR by 100 or 200 per cent. You would, however, further fuel inflation, and you will reduce the yield in fixed income at a time you are trying to attract foreign exchange,” he said.
    The Emir noted that the CBN got the decision right, adopting a flexible exchange rate, and secondly, tightening monetary policy.
    He therefore urged the CBN to fully allow the flexible exchange rate to work without interruption.
    “And these things really require courage, because some of the decisions you will take, will seem to fly in your face in the first week or two. But look at the fundamentals. The naira today is undervalued. The fixed income is suffering high yields. The Lagos Stock market, if you look at the assets prices picking ratios, you got a gross undervaluation. If you allow people to come in and sell their dollars at market prices, people see they are  going to make profits in the equities market and fixed income and also currency appreciation.
    “So, long as you do not allow that, you will not have the float you want. Now, it is the inflow of the dollars into the economy that will take the naira towards its fair value and take it to where you want it to be not by fiat. The market does not accept orders. It will never happen, it has never happened.
    “We need the CBN to take that risk, and courage to implement the flexible foreign exchange policy. Let the market work in the next two or three weeks and see, as people know they can come in, sell their dollars, buy stocks, sell their dollars, fixed income, make a profit in currency and capital acquisition, you are going to have gradually narrowing of the gap between the interbank and the parallel rate and have more liquidity in the market,” he said.
  • Recession: Coalition urges Soludo, Sanusi to support FG

    Recession: Coalition urges Soludo, Sanusi to support FG

    The President, Coalition of Civil Society Groups (COSG), Etuk Bassey has urged past Governors of the Central Bank of Nigeria (CBN), Prof. Charles Soludo and the Emir of Kano, Sanusi Lamido Sanusi to shelve their blame games and support the Federal Government to managing the current economic recession in the country.

    Bassey said during a press conference, in Abuja that the apex bank at this critical time needed inputs from all financial institutions such as the Federal Ministry of Finance, Federal Ministry of Budget and National Planning, Federal Inland Revenue Service (FIRS), Ministry of Industry, Trade and Investment including the ex-CBN governors to develop innovative and workable plans to rescue the economy.

    He condemned the increasing inflation rates, unemployment and declining revenues of the federal government and its daunting effect on the public.

    According to him, the bailout funds, bi-monthly Monetary Policy Committee (MPC) meetings, intervention funds in the agriculture, power and aviation sectors of the economy appeared less effective in the face of the recession.

    “It remains the duty of Nigeria’s economic managers to re-balance the economy and see us through these challenges so that we can emerge a better economy. Yet, it seems to us that those entrusted with the management of this economy are bereft of creative ideas on way forward or, worse still, do not understand the complexities of the current challenges.

    “However, it is important to note the unsavory and divisive comments by ex-Governors of the CBN, particularly Prof. Charles Soludo and HRH Sanusi Lamido, condemning some decisions and actions of the Bank. We are of the view that, save for mischief and cheap publicity, these individuals ought to approach their successor and share their views on an appropriate way forward for the benefit of the masses,” Bassey added.

    However, he advised the Ministries Departments and Agencies (MDAs) to put on their thinking caps and design implementable fiscal policies, structural policies and industrial trade policies to complement the monetary policy of the apex bank.

    Speaking on the roles of state governments, the coalition advised individual states to look inward and develop business models that would boost state Internally Generated Revenues (IGRs), rather than continuous reliance on bail out funds and federal allocations.

    “We find it insulting that some of these state governors shamelessly blame other people for the dwindling performance of the economy,” he added.

  • Ebonyi moves to end robbery, kidnapping

    Ebonyi moves to end robbery, kidnapping

    Ebonyi State government on Thursday said issues of kidnapping, armed robbery and other violent crimes will soon be a thing of the past in the state soon.

    The state governor, Dave Umahi stated this in Abakaliki the state capital while flagging off the Sustainable Development Scheme (SDG) water scheme in the state.

    The Governor stated that his administration is working with the Police and other security agencies in the state to install CCTV and other surveillance apparatus in all the major entry and exit points and major cities of the state to ensure proper monitoring of the state.

    “When this is done, it will make it difficult for kidnappers and armed robbers to operate easily in the state and go free.”

    Umahi also backed Emir of Kano, Sanusi Lamido’s advice that governor’s should not borrow to pay workers salary.

    He described it as postponing the doomsday asking, “if you borrow to pay workers, what will you do when the maturity time comes, it will then be a worse situation for the state.”

    He, however, promised that workers in the state and pensioners will continue to receive their salaries and pensions every 20th of the month despite the economic challenges facing the state government.

    On the water scheme, Umahi said his government will work to ensure that every local government is properly reticulated before the end of his tenure.

    He said the state government added another N900m to its N600m counterpart fund to ensure the completion of the projects.

    He listed the projects to include: rehabilitation of Ezillo water scheme, Sakamori water scheme to be done by Lannard Construction Company and Ohaozara water scheme to be done by Belform Nigeria Limited.

    Focal Person of SDG in Ebonyi state, Dr Ngozi Obichukwu attributed the realisation of the project to Umahi’s determination develop the state.

    She urged the people to ensure that the projects are properly maintained and protected.

  • Emir of Kano, others to address APC youth conference

    Emir of Kano Muhammed Sanusi (II), in collaboration with the office of the Speaker of the House of Representatives, Yakubu Dogara, will lead other notable traditional rulers to address a conference of the All Progressives Congress (APC) youths.

    Spokesperson of the APC Youth Forum Rinsola Abiola said other monarchs expected at the conference were the Ooni of Ife, Oba Enitan Adeyeye Ogunwusi and the Obi of Onitsha, Igwe Nnaemeka Achebe.

    The conference, themed “Strengthening the unity in Diversity”, according to Abiola, is aimed at examining and discussing the concept of the country’s ethnic, regional, religious and political diversity within the context of our national desire, drive and quest for a truly united Nigeria.

    According to her, representatives of ethnic, religious, regional and political youth groups are expected at the conference, to examine the realities from the country’s political, economic and socio-cultural differences, with a view to birthing creative solutions to managing our diversity for national development, and obtaining an acceptable standard for citizenship in Nigeria.

  • Emir of Kano on ‘Awuff’ political economy and re-structuring

    Emir of Kano on ‘Awuff’ political economy and re-structuring

    But contrary to quick interpretations of Emir Sanusi’s call for structural reform, there is nothing in his statement at Olabisi Onabanjo University to suggest that the emir is by this statement recommending the kind of restructuring that can lead to re-federalisation of the country

    Two key concepts in today’s title are ‘Awuff’ or Awuufu in the Yorubanised version of this Pidgin concept and political economy. Political economy in this context is to be understood in its simplest form as how a country is managed or governed, taking into consideration political and economic factors that serve as dominant drivers of the country’s economy and by extension its polity. Awuff, a word recently given additional conceptual energy by Prof. Akin Mabogunje, is akin to ‘Manna’ in biblical terms. It refers to the power of a free good (that arises not from the sweat of a people but as a good bestowed on the people by nature or any generous agency), but which in its plenitude drives economic, political, and even social behaviour of the people with such endowment. The interest of this page today is to amplify the thoughts of Prof. Mabogunje and the Emir of Kano on concepts that seem to have driven the political organisation of this country for about half a century.

    It is remarkable that two of Nigeria’s seminal professionals: Professor  Mabogunje, one of the world’s most cited development experts and Sanusi Lamido Sanusi, the emir of Nigeria’s most metropolitan and cosmopolitan emirate and former governor of the country’s central bank chose to discuss the country’s major motivation in the country’s journey to modern governance, particularly in the current context of what looks like a gradual evaporation of  petroleum, the principal driver over the years of the country’s Awuff political economy. Even though Professor Mabogunje’s use of the concept focused on how easy flow of petrodollars fostered corruption, indolence and wastage at the institutional and personal level, the description of the character of Nigeria’s political economy by the Emir makes direct connection between a Manna economy and the 36 state structure that many Nigerians including modern and traditional cultural leaders as inevitable to the country’s unity.

    Given the professional pedigree of Prof. Mabogunje and the Emir of Kano and their knowledge of the country’s political economy, it is instructive that both of them have chosen to call for a review of the pivotal role of petroleum in the country’s political economy and culture. The intellectual intervention of the two leaders in their respective professional domains has called for an end to the decades of denial that had characterised political discourse in the country. Most of the time, especially in the decades of military government, the emphasis has been on the need to use the country’s resources to promote military dictators’ understanding of unity in a plural society.

    In the decades of military rule, no effort was spared to create a political structure that was driven by manna from petroleum. The four regions in 1966 grew by leaps and bounds to 36 states in 1996, all at the instance of military dictators. Each state was created to make use of the awuff from petroleum. The Emir has been unequivocal about the huge influence of petroleum revenue on the political construction of the country: “If you really reflect on the problems of this country, it seems to turn common sense on its head….You sometimes wonder if anyone needs to tell any group of people that if you are a poor country, you do not need 36 governors, 36 deputy governors, with members of house of assembly, commissioners and advisers, special assistants, a president, a vice president, 36 ministers, special advisers, federal legislature and so on….Simple arithmetic will tell you that if you have that structure, you are first of all doomed to spending 80 or 90 per cent of everything you earn maintaining public officers. It is really common sense but it seems to be a problem for us to understand it….If you don’t free up the resources and put them up for capital projects, you are laying the foundation of what we are seeing today. We need to have structural reform.” (My emphasis)

    Though not totally new in the country’s Unity discourse, the Emir’s analysis of the creation of 36 fragmented states and 774 local governments as receptacles of monthly revenue allocations to over 100 subnational units seems materialist and superior to idealist thoughts that the more you create structures that take governance to small unviable units, the more united Nigeria’s unity would be guaranteed.  But contrary to quick interpretations of Emir Sanusi’s call for structural reform, there is nothing in his statement at Olabisi Onabanjo University to suggest that the emir is by this statement recommending the kind of restructuring that can lead to re-federalisation of the country. Structural reform of the country to prevent waste can also mean asking for further unitarisation of the country in a manner reminiscent of Major-General Aguiyi-Ironsi’s decree that attempted to end the federal system upon which the country obtained independence from Great Britain. Admittedly, the emir did not have to spell out the details of his idea of restructuring or reform in just one speech at the Ago-Iwoye event.

    While it may be reassuring to advocates of federalism in the country that the Emir of Kano, the second largest state in the country according to the last census, has called for restructuring, it may be an over interpretation for his call for reform to be seen as the emir’s enrolment in the registrar of advocates for re-federalisation. But the brave call by one of the occupants of the top echelon of traditional political and cultural power in the country should not be missed by incurable federalists like the writer of this column. Nigeria’s future beyond petroleum is not just about sustaining 36 largely unviable states, it also includes re-thinking the funding of 774 local governments, all under the guise of promoting a third tier of governance. Nigeria is the only country of its size on the globe with almost 800 local governments that are funded separately from the states or provinces that contain them. There is no doubt that Awuff-guzzling third tier of government, like its 36 second tier level, would not have arisen if it was not for huge rents collected from petroleum exploitation, put at the disposal of unelected engineers of the Nigerian state during the military era.

    Efforts by the Buhari government to embark on shuttle diplomacy to increase the price of oil through reduction of supply is understandable as a short-term solution to the sudden drop in government revenue arising from collapse of oil price in the international market. But it is better for the country’s rulers to think like Professor Mabogunje and Emir Sanusi: that the end of the ethos of fossil energy may have begun and may stay with us on and off for decades to come, if not on account of temporary glut but also as a result of a new creative destruction from innovators of environmentally sustainable development scientists and ideologues, particularly in the West with the possibility of similar innovators emerging from China and India.

    The kind of restructuring that Nigeria needs, as it gets ready to create a new economy that is driven by agriculture and manufacturing, is one that reconceptualises how to sustain national unity, not through centralisation of power and functions in Abuja or fragmentation of states fuelled by funds from centrally collected revenue from solid or liquid minerals but through commitment to fiscal federalism. It is not likely that without the usual flow of revenue from oil the country will be able to sustain 36 state bureaucracies and 774 administrative centres designed to consume whatever is allocated without the power to generate enough revenue internally to pay for administrative agencies that leave little impact on the welfare of citizens in most of the states and local governments. Instead of hoping that oil will rebound and bring its easy funds that had driven Awuff political economy at the institutional and personal level to the extent of making the country a huge cafeteria for mindless consumption and wastage, governors of the states and local governments that are not likely to survive without regular transfer of funds from Awuff federation account should join forces with the Emir and like-minded believers in the imperative of restructuring the country. Most of the governors need to know that talking about increasing IGR is not likely to yield anything substantial, without a new political structure that is similar to the ones that worked before the intervention of military dictators in the design of the country’s architecture of governance. Fortunately, such policy option cannot be against the spirit of President Buhari’s idea of unity, given his manifesto that commits to “initiating action to amend our Constitution with a view to devolving powers, duties and responsibilities to states and local governments in order to entrench true Federalism and the Federal spirit.”

  • BREAKING! Emir of Kano orders release of abducted teenager

    BREAKING! Emir of Kano orders release of abducted teenager

    The emir of Kano, Malam Sanusi Lamido II has ordered the Sharia Commission in the state to liaise with office of the Deputy Inspector General of police, zone 1 to immediately commence process of returning the a 14-year old teenager, Ese Oruru allegedly abducted in Bayelsa state.

    Ese was allegedly kidnapped by one Yunusa in Opolo, Yenagoa Local Government Area of Bayelsa State, in August, 2015.

    He reportedly renamed her Aishat on arriving Kano State.

    Senator Ben Murray-Bruce, former minister of finance Obi Ezekwesili as well as the governorship candidate of the All Progressive Congress (APC), Hajia Aishat Al-Hassan have shown interest in Ese’s case, demanding her immediate release.

  • Shehu Usman-Yamusa is new Emir of Keffi

    Shehu Usman-Yamusa is new Emir of Keffi

    Governor Umaru Al-Makura of Nasarawa on Monday announced the appointment of Dr. Shehu Usman-Yamusa as Emir of Keffi.

    Al-Makura made the announcement at a meeting with the State’s Traditional Council in Lafia following the death of the occupant of the stool, Mohammed Chindo-Yamusa on December 4.

    He said the appointment was with effect from Dec. 14.

    He explained that the new emir, who is the son of the deceased, was appointed by the king makers of Keffi Emirate Council.

    He added that the appointment came after a seven-day notice of the demise of the emir in line with extant laws and guiding instruments of the Local Government and Chieftaincy Affairs.

    He said Usman-Yamusa of the Abdul-Zanga royal family scored five votes during the selection, while his opponent Mohammed Suleiman scored two votes.

    Usman-Yamusa, born on Nov. 4, 1966, holds a doctorate degree in Renewable Energy and Sustainable Development, of the International Islamic University, Malaysia.

    He also holds a Master of Law (ML) degree of University of Dundee, Scotland and Bachelor of law (LLB), of the Usmanu Danfodiyo University in Sokoto.

    Usman-Yamusa was a Senior lecturer at the Faculty of Law, Nasarawa State University, Keffi.

  • NLC to Sanusi: Promote policies that reduce poverty

    The Nigeria Labour Congress on Wednesday asked the Emir of Kano, Muhammadu Sanusi ll to concentrate on promoting policies that will reduce poverty among his people rather than promoting those that will further impoverish them.

    The congress said it was unfortunate that the Emir will be calling for further devaluation of the naira when industries in his emirate have totally collapsed, leaving the emirate with one of the highest population of victims of anti-people policies.

    In a statement titled: “Emir Muhammadu Sanusi II’s Anti People Campaigns Should Be Ignored,” and signed by its president, Comrade Ayuba Wabba, the NLC said the traditional institution in the country should speak for and protect the poor and must not become outposts of neo liberal institutions.

    The statement reads: “The former Governor of Central Bank of Nigeria and now Emir of Kano, Mallam Muhammadu Sanusi II has been widely reported by some newspapers to have openly canvassed the devaluation of our national currency, the Naira as well as total removal of subsidy on petroleum products by the Federal Government.

    “We believe the Emir was expressing his private opinion and not speaking for the traditional institution or his emirate where industries have totally collapsed leaving the emirate with one of the highest population of victims of anti-people policies powered by neo liberal interests.

    “The eminence of his position as an emir should not be rubbished with constant proclamations or campaigns for policies that has proven over the years as not only damaging to our national economy, but targeted against majority of our people who flounder in abject poverty.

    “The traditional institution should speak for and protect the poor, and must not be turned to outposts of neo liberal institutions such as the IMF, the World Bank and their cohorts who imposed policies such as the Structural Adjustment Programme under which the Naira was devastatingly devalued while production halted with the near total collapse of industries.

    “As an import driven country, the effect of devaluing our national currency is more on the quality of life of ordinary Nigerians who bear the brunt of high cost of goods and services given the fact that the exchange rate of the Naira to the dollar has gone record high from N154 to a dollar to over N225 to one dollar.”