The Nation Newspaper

Tag: governance

  • ‘Oil firms must imbibe good governance for efficiency’

    ‘Oil firms must imbibe good governance for efficiency’

    The Executive Director, Corporate & Investment Banking, Access Bank Plc, Elias Igbinakenzua, was a panelist in one of the sessions of the just concluded Nigeria Oil and Gas Conference in Abuja. He spoke to reporters on the sideline at the event on what local oil firms should do to make their projects bankable and have easy access to financing. EMEKA UGWUANYI was there.

    Why is Access Bank interested in oil and gas financing?

    Oil and Gas is our mainstay in Nigeria. It contributes over 90 per cent of foreign exchange to our revenue and it employs the bulk of our people. Any bank that wants to encourage the industry and add value to the economy must support oil and gas. So, as a bank we have been there from inception. We have encouraged players locally as well as the International Oil Companies (IOCs). It cuts across all the chains of oil and gas companies in the downstream, midstream and upstream.

    Access Bank is one of the well capitalised Nigerian banks that have the wherewithal to support the Nigerian oil and gas industry. In terms of governance, we have the right framework to access the risks, dimension them and know the extent to go. We have also been able to help our clients to understand the risks and know how to perch against them. So, we are a core player and we think that as a key Nigerian stakeholder, we must play big in the oil and gas industry.

     You emphasised lack of corporate governance as an impediment to funding of projects. What are you doing to make indigenous firms incorporate this in their system?

    The theme of the panel session was actually to look at the independent oil companies and success recorded so far and then accesses the future. For you to sustain participation for a long term as a going concern, you must imbibe good governance. This will help to determine how to organise your activities, what risks to take and how to mitigate the risks. A player cannot attract the bank’s attention if he does not have a structure that is observed and examined as transparent and operating in line with global best practices. So, we think that for our local players that want to grow big, they must embrace good governance. We have done that for a number of players. We have actually tried to make them understand the need for governance. We have also called external parties to assist them to put the right structure in place and have good governance. This form of assistance by Access Bank has encouraged a good number of indigenous players.  It is not about coming to borrow, but when they come to us, we help to put their companies in the right perspective to follow good steps as a player for the long run.

    What are you doing to collaborate with the Department of Petroleum Resources (DPR), to address  theft  of crude oil from pipelines owned by the international oil companies (IOCs), but used by indigenous players, and the impact on cost per barrel?

    I talked about global best practices and must look at where we are going to operate as firms with the best practice, where is the deal trend that we should all focus on? Today, we have inefficiencies in the system and we can’t live and be okay with that. We want to identify what is making our production less efficient and see how we can team up and reduce the inefficiencies. When we say oil is costing $15 per barrel to produce, we are talking about removing the associated costs responsible for the inefficiency such as the militancy in the Niger-Delta, the issue of down times and all that. After the removal of these undetermined cost elements, we can then say what is the optimum production cost per barrel?

    That is what we are aiming to achieve. If you look at the cost issue, Saudi Arabia is producing for less than $10 per barrel. Even Ghana here, the cost of production per barrel is not as high as the cost production of oil in Nigeria. So, a lot can be done. I am not blaming the oil companies for what we have today but I am saying as a system we are still inefficient and we must work together to minimise inefficiency so that we can have a going concern that is sustainable.

    While speaking at the panel session, you said your bank has a window that will it do more than 10 per cent funding in the oil sector. Please expatiate on this?

    I didn’t say 10 per cent. The Central Bank of Nigeria (CBN) during the last quarter of last year issued a circular that banks total loans to the oil and gas sector should not exceed 20 per cent of their portfolio. Before then, the policy was that a bank could finance 20 per cent downstream, 20 per cent midstream and 20 per cent upstream. And because the circular was issued towards the end of the year, virtually all the banks could not comply with that policy. The CBN had to suspend the policy for now. So, as at today the old policy is still what is applying which means as a bank, you can lend 20 per cent downstream, 20 per cent midstream and 20 per cent upstream. The limiting factor today is the bank’s single obligor limit. That is to say, a bank cannot lend to one obligor, 3 per cent of the shareholders’ fund. And today we have banks that have up to N500 billion of the shareholders’ funds. So, they can lend up to a N100 billion if a particular bank so desire to lend to one obligor. That is why I am saying the banks today have the capacity. The CBN two weeks ago said Nigerian banks are well capitalised, that shows that Nigerian banks are actually strong enough to support the sector. We are ready, provided there is good governance.

    The CBN is worried over banks exposure to the energy sector – the power and the oil and gas sector and that you should reduce your exposure to the industry…

    Yes and rightly so because the oil and gas and the power sectors have issues right now. You are aware of the drop in crude prices and if an oil company is not efficient, then the drop in price of crude can make their loans to start going bad. So, if banks have not gotten their borrowers to hedge their risk, then they are exposed. And once a bank goes down, it affects the entire industry because there is what we call the ‘Contagion effect.’ We have banks that are called all CPs and non-Cps, the ones that are considered to be very important in the system. If anyone of the CPs is brought down because of oil and gas then the whole industry will have a contagion.

     Why then do you think that the current slide in oil prices is an act of God?

    No, what I was trying to say is that sometimes things are allowed to happen by God because they will teach you a lesson that you needed to learn. We are too dependent on oil as a nation. Like I said, the whole of Africa, we have only 8 per cent of the global oil reserves and Nigeria has 2.25 per cent of the reserves. So, why should that 2.5 per cent be our sole focus? It should be one of our resources. We should have a way of having a broadened income base for the economy. It calls for a rethink.  For instance, to say that we are too reliant on oil, let us think of agriculture and other areas where revenue can be earned as a nation.  That way we are better for a long run as a nation.  So, to that respect the slide in oil price is a blessing in disguise.

    Aside the corporate governance, especially in the power sector, what are your observations and what advice do you have for them?

    Power is a different issue. I don’t want to go into power because it involves a lot of issues with government doing their own part.  But I think what banks want to finance are bankable projects. Bankable implies that the risk that they can see is mitigated. In this case, the bank will tell the customer that look I can’t see my way in and out so I won’t lend to you as a customer. But note that the money banks are using to trade is not their equity, they are funds from depositors. The bank is expected to pay customers back as at when required. So, banks can’t risk their deposit so much. They must ensure that they have enough skills to appraise the risks in any sector and know the extent to go such that when depositors come and ask for their deposit they can easily pay them without controversy.

    Concerning banks ability to finance a project worth $500million, can you respond to a request from any indigenous firm asking for this amount to finance a single project today?

    Again let me restate what I said. I said some banks have enough shareholders fund to support lending half a billion dollars to any project. Access bank is one of the top four banks in the country today. The bank has huge capital to raise support for indigenous players. Whether we will lend half a billion to a company is a different ball game. I am not sure I will want to sit down today at Access Bank and lend half a billion to an indigenous company. I have a risk structure that I must comply with. In Access Bank, there is so much of good governance that is entrenched. What I do as Executive Director must be sanctioned by my risk and control team. We have a lending policy that is well entrenched in our governance framework that we must adhere to. So, the extent to which I lend must be in line with the law and in line with what I see as risk that I can take.

    What message has Access Bank  for Indigenous operators?

    There is very bright future for the indigenous producers. Nigerian banks are willing and able to support them, provided they put in place the right structures that will ensure good governance that optimises production and enhances efficiency.

     

  • Akpabio’s wife seeks more roles for women in governance

    Akpabio’s wife seeks more roles for women in governance

    The wife of Akwa Ibom Governor, Mrs Unoma Akpabio, yesterday advocated for adequate involvement of women in the governance of the country at all levels.

    Mrs Akpabio spoke at a thanksgiving held at the Apostolic Church, Uyo, as part of activities marking the 2015 International Women’s Day, said that women should not be seen as house wives only.

    The wife of the Governor said that the theme for this year which is “Empowering Women- Empowering Humanity: Picture it!” was apt, and needed to be implemented by everybody.

    “Empowering womanhood will not only mean progress for women, but also progress for humanity in general because when women are well positioned economically, socially and politically, the family and the community are also empowered,” she said.

    She said that the women of the state had broken gender barriers to emerge as trusted partners with their male counterparts in the business of governance in the state.

    “Today, we have an unprecedented number of Akwa Ibom women in elective and appointive positions, a tribute to the gender-responsive disposition of the Akpabio administration.” She added.

    The wife of the governor also said that the current administration had significantly reduced maternal mortality through its free medical care programme for pregnant women.

    She also noted that thousands of women had benefitted from empowerment programmes, such as the Women Agro-Entrepreneurship Development Programme (WAEDEP) and several loans and grants .

  • Role of legislature, judiciary in environmental governance

    This is the implication of the  provisions of section 4 (7a) of the 1999 Constitution as amended.

    A comparative study of the National and State Legislatures, in the discharge of the enormous powers bestowed upon them by the constitution since the inception of the current democratic experiment, clearly shows that whereas the National Assembly has been very assertive and proactive, most State Legislatures, regrettably, have allowed themselves to be completely emasculated and castrated by the state governors who, in several instances, have been very over-bearing in the way they conduct the affairs of their various states, (Odey,

    2013:2).

    In simple terms, the legislature performs three basic Roles namely: Law

    Making, Representation and Oversight. The Legislature oversight the executive arm of government which include the Ministries, Departments and Agencies (MDAs), to ensure that government is held accountable to the people from where it derives its sovereignty.

    However, the differences is that environmental governance requires that policy makers, decision – makers and practitioners (Le NESREA & NOSDRA) have full knowledge of the environmental factors within and around their municipalities. In environmental management and  governance, knowledge of the international regional, national and local environmental priorities is critical. Coupled with an in-depth understanding of the legislative requirements (Le the constitution, National Environmental Management Act, Disaster Management Act, National Health Act; Municipal System Act etc); municipalities should be  able to translate national policy tools at a local level; and put them into practice by designing environmental sector plans, by-laws and management system for implementation, compliance monitoring and enforcement.

     

  • Corruption-friendly governance

    In spite of former leaders’ flaws, Jonathan’s rot is worse

    Former President Olusegun Obasanjo and one-time military strongman Ibrahim Babangida delivered a blow to Jonathan individually and in separate contexts, and suggested that his government scandalously encouraged corruption.

    The nation’s president, Dr. Goodluck Jonathan, had ironically earlier identified corruption as one of Nigeria’s twin problems.

    At a special New Year service at the Dunamis International Gospel Centre, Abuja, Jonathan had said: “There are two main problems confronting us as a nation: The issue of insecurity in the North where we have the Boko Haram terrorists and in the South where we have commercial kidnapping. The next thing that people worry about after security is the issue of corruption.”

    It is noteworthy that the country has an undesirable international reputation for official corruption, and Jonathan, perhaps unwittingly, reinforced the 2014 Corruption Perceptions Index (CPI) of Transparency International (TI). The assessment was based on the extent of public sector corruption in 175 countries and Nigeria was ranked 136th. The country scored 27 out of a maximum 100 marks, and was listed as the 39th most corrupt nation in the world. This has happened on President Jonathan’s watch.

    Against the background of this ugly picture, Babangida’s interview with the media unit of the Economic and Financial Crimes Commission (EFCC) may be appreciated and contemplated. Babangida was quoted as saying, “I don’t have the facts but if what I read in the newspapers is currently what is happening, then I think we were angels.” It is an instructive reflection of corruption perception relating to Jonathan’s tenure. Although  Babangida headed a military regime discredited for  allegedly institutionalising corruption in Nigeria, it is a statement on the scale of corruption in the country that it could confer  sainthood on a Babangida regime that sullied the nation’s moral landscape. So terrible was the corruption and depletion of public treasury in the Babangida era that he once wondered why the nation had not collapsed.

    In his own case, Obasanjo lamented: “Our nation is plagued with insecurity, economic downturn, increase in poverty, corruption and impunity in doing things.” He told visiting Southwest women leaders at his Presidential Hilltop Estate in Abeokuta, Ogun State: “Nigeria does not deserve the position it has found itself today.”  Although, on the surface, his comments had a matter-of-fact ring, it would appear that he conveniently glossed over his own contribution to the observed regrettable state of the nation, especially in his  years as a democratic president and even beyond. The truth is that the Obasanjo administration had its own condemnable dimensions of corruption and impunity.

    However, in spite of the shaky platforms on which Obasanjo and Babangida made their observations about the country’s slide, and their own questionable morality in the context of governance, it must be noted that their interventions are not without a redeeming quality. At least, by their negative evaluation of the performance of the Jonathan presidency they helped to further highlight the present rot, which should be viewed as a positive role.

    It is remarkable that, while pinpointing the problems of insecurity and corruption, Jonathan boasted: “We are coming out with programmes and plans to clean up. These are things you just don’t use a magical wand to wave off; otherwise even before I became President, there wouldn’t have been corruption in Nigeria.”

    The disturbing implication of his reasoning is that the country has been a victim of a chain of corruption-friendly governments. Jonathan should be told that words are not enough. His track record offers little hope to a country in dire need of correction. He has been in the saddle for about six years, and if he had no plans for corruption since, how can he boast one now?

  • Ajimobi and modern governance

    For me, youths in every society, especially those who aspire to leadership, have one particular task of tapping mentorship either overtly through direct relationship with an inspiring leader or covertly by learning through purposeful observation. But in a clime where we suffer the dearth of such true transformation – oriented and development – inclined leader worthy of emulation, as trustees of posterity, we have the responsibility of lauding the few we can single out. With all sense of conviction, Governor Abiola Ajimobi of Oyo State exudes leadership style that today’s youths must take a cue from.

    My motivation for writing this piece is simple: to offer my own side of the story to the politically-motivated criticism that has trailed the government of Gov. Ajimobi in recent times.

    Without doubt, visitors who have not been to the state in the past three years will be pleasantly surprised with what the environment now looks like. Of course, waste disposal has always been one of the biggest blights of the state which previous government tried to fix but with little or no success, leaving our environment dirty and making the state one of the dirtiest in Africa. But the dramatic improvement witnessed so far has proven to us that a serious government can transform the most damaged society.

    Isn’t the relative peace with which people of the state now conduct their businesses laudable? Of course it absolutely is. Now we can sleep with two eyes closed with the water-tight security that a serious government provides. Now is no free time for brigandage, thuggery and violence in the state. Now is no time for beautification of area boys, apologies to Wole Soyinka. Now it is impossible for rogues to invade the state secretariat, throw law makers out of their offices and impeach democratically elected public office holders. May the bad old days never return to the pace-setter state.

    Ajimobi is a governor who recognises the expediency of a smooth executive-legislature relationship for sustainable development. He does not run an exclusivist government. He carries along the opposition and recognises them as stakeholders in the quest for the sustainable development of the state. Of course, this has helped in ensuring peace in the state assembly and has made developmental projects easier to execute than ever.

    The Ajimobi-led government has invested heavily on infrastructural development across the length and breadth of the state, because the government recognises the necessity of infrastructure in attracting foreign investors into the state. His commitment to the completion of road projects throughout the state is laudable. Now the huddles of traffic jam that used to constitute headache for commuters along Mokola-Agodi  and Sabo-Dugbe have been allayed. The dualisation of Eleyele-Jericho road, Dugbe-Aleshiloye road, Ogbomosho Township road, Iseyin Township road, Owode-Akesan road and Owode-Isokun road in Oyo also dot the list of his successful projects. Ajimobi has constructed an ultra-modern motor park at Podo and Wema Bank Area, New Gbagi Ibadan, both with complete drainage system, water, food canteens, security and toilet facilities. He has built a business complex as scout camp, Molete, completely transforming that hitherto god-forsaken locale. These are feats achievable only by a leader with apt understanding of modern governance. The good, perhaps, the best, thing in this is that the governor is purportedly getting all these done without recourse to either international or domestic loan.

    The education sector is not left unattended with payment of WAEC fee for students, 50% reduction in fees paid by students of the Polytechnic, Ibadan and LAUTECH. Ajimobi has shown support for students’ leadership in the state and encouraged students’ unionism by distributing brand-new quality buses to all higher institutions in the state. Workers welfare in the state has been enhanced in an unprecedented manner. Oyo civil servants get their salaries paid in time with thirteenth month bonus. They also get free ride to their various work places. Trade and investment are committedly encouraged with N300 million interest-free loans for traders, not to forget the unprecedented influx of foreign and local investors into the state.

    Ajimobi’s government is far from perfect. No government or person has ever been close to perfection. We know that there are still schools with windows perpetually open. We know that payment of bursary to tertiary institution students from the state has not been regular. Yet, we have now learnt many positive things: that politics does not have to come with bloodshed, that we are Nigerians, not barbarians, that our towns and cities can be managed in an organized manner. We have also learned that our health care system could offer basic service to the people without hindrance, that our environment could be sustainably clean and safe, that our roads could be wider, cleaner and safer, that government could be brought down from the Olympian height to the people through many ways. Thus, the few areas of imperfection are not enough to blackmail the working governor. It is understood that many seek to wrest power from the incumbent but for continuous progress in our state, we the residents should think more than twice, lest we allow some folks’ inordinate ambition to mock honest toil.

     

    Babatunde is immediate past SUG president, UI

  • Media, law and good governance

    Media, law and good governance

    Text of a paper presented by Chief Joe-Kyari Gadzama (SAN) at a Lawyers in the Media (LIM) of the Nigerian Bar Association (NBA) forum.

    Over the past century, the relationship between the media and government at various times in Nigeria has always been largely governed by suspicion. In Nigeria, the ruling class is hardly comfortable with the media and the media on their part look at the government with suspicion. The history of the media in Nigeria has always been characterised by two major forms of ownership, those owned by the government and those owned by private individuals. These two forms of media ownership are all driven by separate agendas. The government media houses are used mainly as instruments of image-making for the government while the private media owners are driven by different motives, which could include profit making, agenda setting, and the gaining of political influence which can be later translated into political and business gains.

    The government is naturally wary of some of the activities of the media while the media seeks to provide information to the public and ensure good governance. We therefore have a stalemate. It is even more interesting when one considers the fact that the same government requires the media to educate the public on some of its unpopular policies. An example could readily be found in the fuel subsidy debate that occurred in 2012. The government required the press to sell its proposed policy of gradual subsidy removal to the populace.  The suspicion with which the government views the media could be traced to what is widely accepted as the ability of the media to influence public opinion. This belief may not be farfetched when one considers the significant contribution made by the media towards the political decolonization of Nigeria from the hands of the British. It is on record that the founding fathers of Nigeria i.e. the nationalists like Dr. NnamdiAzikwe, Herbert Macaulay, Chief ObafemiAwolowo, SAN, Alhaji Abubakar Tafawa Balewa, to mention a few, started their careers as press editors and publishers.In 100 years of the media in Nigeria therefore, the media has been worse off. Journalists, playwrights, poets, novelists and editors have all felt the wrath of the government on the numerous occasions that they have demanded good governance. They have been imprisoned, their newspapers banned and have faced kangaroo trials. This is without mentioning the uncountable occasions that members of the Armed Forces have “accidentally” killed or “accidentally” brutalised media practitioners. The Media has also not helped matters with largely lopsided, even if satirical write-ups, selective reporting and some irresponsible journalism. A misrepresentation of a government policy for instance or an agenda driven write-up on the activities of the government could if not managed properly, cause unprecedented chaos, particularly with the advent of the internet.

    The government is therefore under no illusions as to what a completely unfettered media in Nigeria can do. The media is also under no illusions on what a completely unchecked government can do. It is therefore an interesting relationship; one underlined by the fact that they both need each other. The media and the government have always worked together if not hand-in-hand and it is worthy of mention that the President, the Vice President, the Governors of each state and other high ranking government officials have media aides, selected from among media practitioners, who assist them in liaising with the media and the Nigerian populace.Flowing from the above, it would not be out of place to emphasize that it is on this fragile relationship, this delicate game of confidence, that a huge chunk of Nigeria’s future leans.

     

    Media and law : An appraisal of the current media laws in Nigeria

    We have in over 100 years of the media in Nigeria, promulgated and enacted several decrees and Acts with a view to regulating the sector at one point or the other. To that end, several laws have been put in place by successive governments, to keep the media in check. While this may sound oppressive, one needs tobear in mind the fact that without laws to its operations, the media would be practically impossible to control and we would then have on our hands, a problem bigger than any we have ever faced. Imagine a country where you could broadcast or print anything without checks; ethnic write-ups, unfettered extremist religious teachings, inciting speeches, unsubstantiated rumours, sensitive classified information and a host of others. Such a country would stumble from one crisis to another until it eventually goes off the rails and spins inexorably into orbit. To drive the message closer to home, imagine a situation where a privately owned Newspaper and perhaps one or two privately owned online media outfits, report that there has been a bloody coup in Nigeria. Immediately, there would be panic and the news, even if false, would spread really fast due to the infinite reach of the media. In the event that the government is unable to respond on time to these allegations, Nigerians would begin to believe it and gradually, other countries. There is no telling what that could lead to for the country; politically and economically.

    Law is, therefore, the only civilized instrument with which the activities of the mass media, be it government owned or privately owned can be effectively regulated.

     

    Improvement in Media-Government relationship

    It is imperative that the media and the government improve their relationship as their partnership is key to a successful Nigeria. In advanced countries, the media and the government, while they may have divergent views on issues, express these views within the ambits of legality and decency. In Nigeria however, the reverse is the case. Nigerians regularly take to twitter, facebook and other social media to insult the government. While it is true that governments and heads of government are insulted on social media in foreign, advanced countries, such insults are not as pronounced as they are in Nigeria.

    The Electronic and Print Media are no different. Government officials are regularly depicted as ‘clueless’ and incompetent through headlines, editorials and private contributions from individuals. Successive Nigerian Governments on their part, have also earned a reputation over the years for the treatment meted out to members of the media most especially the detention and physical manhandling of media practitioners by members of the armed forces. This is without mentioning the oppressive laws and decrees of the past, some of which are still operative even today.

    I believe there exists today, a high level of distrust between the government and the media. The media, especially the private media, must show that they are ready to engage the government in intellectual, robust debate and not unjustifiable witch-hunting or unwarranted criticism. If for instance, the government as represented by the Independent National Electoral Commission (INEC) conducts a free and fair election, the media outlets should acknowledge this fact irrespective of the political leanings of their owners. The current terrorist activities of insurgents in Nigeria should also unite the media and the government. Such activities should not be seen as an avenue to highlight the failings of the government without offering viable alternative solutions. The same goes for the recent Ebola outbreak in Lagos.

    The government must also treat the media with more respect and trust. They should sieve their various suggestions and identify those that are useful while respectfully doing away with those that are not. The Special Assistants to government officials on Media should also help to link up both groups in this regard. It is expected that with these measures put in place, 100 years of the media in Nigeria would not have been wasted.

     

    Conclusion:

    A cursory glance at the historical background of the mass media and law in Nigeria, will reveal both as partners in the struggle to sustain good governance in Nigeria.

    It can be therefore bestated without fear of contradiction that law and the mass media are not strange bed fellows in the struggle for good governance in the past 100 years in Nigeria. Through the media, the Nigerian populace has always been sensitized on the policies and programmes of government affecting their individual and collective interests. The relevant laws regulating media practice in Nigeria also assist in regulating their activities and curbing possible excesses that could result in anarchy if left unchecked. The success recorded by the media through purposeful journalism would not have been achieved without certain regulatory bodies controlling their affairs.

    The recently passed Freedom of Information Act 2011 is a right step in the right direction. With this piece of legislation, a fairer and better mass media environment is further guaranteed in Nigeria which will in turn foster more transparent governance.

     

     

  • Media, law and good governance

    Media, law and good governance

    Text of a paper presented by Chief Joe-Kyari Gadzama (SAN) at a Lawyers in the Media (LIM) of the
    Nigerian Bar Association (NBA) forum.

    One other significant element of the press at that time is the establishment of printing as an industry, profession and trade. Naturally, this new techno-economic and professional activity became rooted in the South West of the country before other areas such as Onitsha. It should also be acknowledged that the target audience and market forces for the press together with journalism as a new profession propelled and fostered by western education became dominant in the South West7.

    During the colonial era, certain laws were incorporated and one of such was the Official Secrets Ordinance8which was adopted from the Official Secrets Act of the United Kingdom. Also, the Seditious Offences Ordinance 1909 was a clear transplantation of an Indian legislation. However, in the post-independence era, media or press laws were enacted or promulgated by indigenous political authorities. While some were enacted by democratically elected officials representing the various constituencies of the electorates, some others were brought to life by successive military governments.

    One of the first press laws was the Newspapers Ordinance No.10 of 1903 which required prospective newspaper proprietors to make, sign and swear affidavits containing their addresses and that of printers and publishers before embarking on newspaper production. They were also required to execute a bond of 250 pounds with two sureties. This was as a result of the heightened tone of press criticisms which characterized political opposition of the last years of the nineteenth century, particularly the eve of the First World War.

    Broadcasting media started proper in Nigeria in 1936 when the first Radio Distribution Service (Re-diffusion) was established in Lagos and distributed the British Broadcasting Corporation (BBC London) programmes. Then in May, 1960, the former Western region established its own radio station and on August 28, 1961 witnessed the passage of a bill which gave the Federal Government complete control of theNigeria Broadcasting Corporation (NBC).The Federal Government Many decrees were promulgated by the Federal government including the one which forbade the Federal Government from establishing radio stations outside the four national stations and that the State owned radio stations’ transmitters should not exceed 10 kilowatts in capacity. This however was not the case as the rule was violated with many State radio stations acquiring powerful transmitters which could be picked beyond their territories; they also established more radio stations especially the FM stations.

    As the awareness for press freedom and mass communication began to gain momentum in the early 1990s, many private radio stations were established, including RayPower 100.5 FM which happened to be the first private radio station to go on air in 1993 and which blazed a trail that has since led to the establishment not less than 30 private radio stations across the country.

    Television broadcasting was also not left out. OnSaturday, October 31, 1951, the Western Nigeria Television (WNTV) was commissioned and began transmitting from the grounds of the parliamentary building with its slogan as first in Africa.

    In May 1977, when the Nigeria Television Authority was inaugurated and saddled with the sole responsibility of undertaking Television Broadcasting in Nigeria, individuals were not allowed to operate television stations as the government believed that it could be dangerous for individuals to run them.This was understandable given the far reaching capacity of television and the rather parochial, regional outlook of the average Nigerian at that time.

    In 1992 however, the government of General Ibrahim BadamosiBabangida bowed to the cries of proponents of private broadcasting in Nigeria, who had repeatedly clamoured for the chance for private broadcasting stations. They had argued that more jobs would be created, and that an additional source for the public to express themselves would have been created. More importantly, since the broadcasting stations were all government owned hence, the criticism of government was not allowed on the government owned stations. After all the agitations, General Babangida bowed to the public yearnings and when Decree 32 of 1992 was promulgated, it brought an end to about sixty years of government monopoly of broadcasting in Nigeriaand in 1994, Daar Communications and Silverbird Communications were issued licences.Notably, the Decree made it the prerogative of the President of the Federal Republic to sign such licenses.

    Today, we have privately owned Television stations, privately owned radio stations and of course, privately owned Newspaper companies. Even more interesting, is the fact that access to the internet has enabled individuals to set up private blogs where their views are expressed to the public. Social media has also played a major role in ‘shrinking’ the world. The phrase ‘the world has become a global village’ more than aptly describes the role played by the media in the course of our development as a country.Despite the success story recorded by the mass media in Nigeria over the years under consideration, the sector has not been so smooth without some hitches and setbacks, especially, the private media. These and others shall be critically looked at as we progress.

     

    2.The Media and the military

    One cannot do justice to this paper, without mentioning some of the difficulties that early media practitioners faced at the hands of theMilitary. Some Military Regimes and their treatment of the media shall be analysed

     

    (i)         The General Yakubu Gowon Regime

    General Yakubu Gowon promulgated the Emergency Decree of 1966which made arrest and detention of Citizens without warrant lawful. By virtue of this decree, offices or premises of Newspaper companies could be searched without warrant or notice. The administration also promulgatedanother the Newspaper Prohibition of Circulation Decree 1967 which empowered the Head of the Federal Military Government to restrict the circulation of any newspaper in Nigeria. Finally, the Regime promulgated the Trade Disputes (Emergency Provision) Amendment Decree No 53 of 1969 which made it an offence for any person to publish anything inprint or electronic media, which was likely to cause public alarm or industrial unrest.

     

    (ii)        The General Muritala Mohammed/ General Olusegun Regime

    This administration further promulgated the Newspaper Public Official Report Decree which prohibited the publishing of any statement or report alluding to the corruption perpetrated by any public officer in Nigeria. Anyone who violated the provisions of this decree was guilty of an offence and be liable on conviction to imprisonment for a term not exceeding 2 years without option of fine.

     

    (iii)      The General Muhammadu Buhari  Regime

    The General Buhari led Military Government introduced a series of well-known Decrees.  In 1984, Decree No 2 (Detention without trial) and No.4 of 1984 (Public Officers Protection against False Accusation)were introduced.  Decree No. 2 enabled the government to detain without trial, those suspected of having committed offences. Decree No. 4 made it an offence for any form of Print or Electronic to publish or transmit any report or statement which was false. What would determine a ‘false’ report was anybody’s guess. The Decree also prohibited the circulation of any Newspaper that may be detrimental to the interest of the federation and empowered the Federal Military Government to revoke the license granted to such Wireless Telegraphy Stations under the provision of the Wireless Telegraphy Act 1961. The Military Government also reserved under the Decree, the power to order the closure or forfeiture of such Newspaper.

    Two journalists, Mr. NdukaIrabor and Tunde Thompson of the Guardian Newspaper were jailed based on Decree No. 4and the paper was ordered to pay N50, 000.00 (Fifty Thousand Naira) as fine.

     

    (iv)       The General Ibrahim Babangida  Regime

    The administration repealed Decree No 2 of 1984 and re-introduced another Decree titled the State Security (Detention of Persons) Decree 2 of 1984.

  • Obuh: I stand for good governance in Delta

    Obuh: I stand for good governance in Delta

    Delta State Peoples Democratic Party  (PDP) governorship aspirant Sir Felix Obuh spoke with  Southsouth Regional Editor SOLA O’ NEIL on his chances at the primaries.

    How do you rate your chances in the PDP primaries, considering that there are 18 aspirants?

    For me, I will say the more the merrier. But, the essential ingredient is what each of us is bringing to the table. What are you offering to the people? What are your antecedents? What do people perceive you to be? I believe that each and every one of us has to answer to our names. How much of you do the people know? I think I stand a very good chance. The people of Delta State know me in and out of public service; whether in the political class, the civil services or whatever. They know me enough and they know what I stand for – good governance, diligence and service to the people. I believe that I have a very great chance of emerging as the candidate of the the PDP on December 8 (today).

    There is a perceived gang-up of other aspirants against your quest to become governor of Delta State. What’s your reaction to this?

    It is very unfortunate because I thought everybody was going to market himself, rather than going about castigating other people and building animosity in a community that is supposed to be peaceful and united. Notwithstanding the fact that it may appear negative on the part of those who conceived it, for me they have succeeded in making me more popular and giving me publicity that I did not pay for. But, ironically, they were not able to raise even one issue against my suitability for the office I am seeking. For me, that is good enough. I am fully qualified and ready to run the race. They did not say I am not qualified. I understand what Delta State is and I know what the people require and I know what it is to run a good government that can deliver service; they did not deny that.

    Are you worried by the implication of this negative campaign?

    I would be worried if the allegation levelled against me is serious or significant. They have not said anything that can be damaging to me. Indeed, they raised allegations about certain leaders trying to take possession of the state, as if to say they are condemning those leaders. Unfortunately, those are the people who have been in government, benefitted and are still benefiting from the same leaders they indicted in that publication. I believe that they just did it momentarily because they thought they have something unifying them, but in the course of time, as has already been proven, they will begin to find out that they have great differences between them as candidates, than with me as another candidate in the race.

    Delta State PDP has a history of acrimonious primaries that usually lead to defeated aspirants defecting to other parties. Are you worried about this?

    I have decided to build my tent within the PDP and for me that is where I will remain. Anybody who believes that he has something to offer to the people of Delta State on the platform of the PDP should be bold enough to run the primaries and if he loses let him donate whatever idea he has to the candidate that emerges, so that we can build a strong and vibrant state of our dream. You don’t need to run somewhere else as if you are desperate for power. When you believe in the party, you should be sufficiently patriotic to give whatever idea you have to whoever emerges. I will not encourage defection and I will seriously discourage anybody who wants to do that. But if they wish to go, whoever will emerge will emerge. For me, if God blesses me with the ticket of the PDP, let them go elsewhere to combine forces, but I intend to carry everybody along.

    Will you make overtures to your opponents to remain in the party?

    I have always said that nobody is a champion. I have always said that we should stay within the party and build a strong and vibrant political party so that we can continue to win elections. There is enough ground for everybody to contribute one way or the other; there is no Mr Know-all in any field. What I think we can always do to be on top in Delta State is for us to bring to the table all our talents, all our ideas; what we need and what we have to contribute to the growth of the state so that we can harness them for the betterment of our society. We do not need to dissipate our energy.

    After the screening, we are into the last stretch of the primaries campaign, what is your position with the delegates? Are you satisfied with the delegates list?

    A couple of weeks ago, we had the election for delegates and since then we have been trying to reach out to delegates that have been so elected. The process of canvassing for support/votes is a continuous one. We know that there are a good number of them (delegate) that believe in us. We are not giving up on anybody; we are accessing and trying to approach anybody who has been elected as delegate to make them understand why they should give us their votes. We are doing our best to win over as many of them as possible and we are doing that by trying to spell out to them what our philosophy is for government and what our position is in the PDP.

  • CBN urges bank directors on corporate governance

    CBN urges bank directors on corporate governance

    The Central Bank of Nigeria (CBN) has urged bank directors on the need to imbibe sound corporate governance practices to sustain the stability of the banking sector.

    Its Deputy Governor Financial System Stability, Dr. Kingsley Moghalu, who spoke at the Financial Institutions Training Centre (FITC) 2014 Continuous Education Programme for Directors of Banks and Other Financial Institutions in Lagos, said the level of corporate governance in banks can sometimes reflect the culture of governance in the system.

    Speaking on the theme: ‘Enhancing Board Effectiveness for Enduring Quality of Banks’, he explained that in the advanced countries, the level of corporate governance in the banks before the global financial crisis was an extension of the larger governance culture in those countries.

    The banks, he said, were seen as private and profit making institutions and so the values of capitalism drove those institutions to the extreme and many of them collapsed.

    “This is what we have to avoid; and the responsibility is on you as bank directors. We do not want the privatisation of profits and socialisation of losses. You don’t run your bank well and when it is about to collapse, you start looking for CBN for accommodation.

    “The CBN under the previous administration reached a decision that no banks will be allowed to fail again. And it was a good decision. This was because; this country has gone through a very scarring and scary history of failed bank failures.

    “People have lost fortunes and as a result lost complete trust in the banks. But let’s not make it a habit. That is what I am saying. Going forward, do not count on the CBN, if you don’t run your banks well.”

    Moghalu said effective corporate governance stemming from good risk governance is critical to stable financial system.

    He said the global financial crisis would have been averted if there were effective risk and corporate governance practice in the financial system.

    He said: “Many of the bank directors don’t govern effectively the management of risks. If bank failure had not occurred, all those collateralised debt obligations and structured investment vehicles and other financial engineering which was an increase in the multiples of all the risks banks were taking, would not have taken place.

    “There are questions. And those who should be asking those questions are boards of directors of banks. So we believe that the failure of corporate governance, especially the failure of risk governance was a major cause of the global financial crisis.

    “Corporate governance is not just about compliance, it is about governing to create value, governing to build enduring institutions. Corporate governance is a key factor in financial systems. However in an environment like Nigeria, it is even more critical because it is bound up in a number of wide cultural issues.

    “It is also bound up in a number of wider governance issues. It is the same as public governance. This is because, to make impact, you have to have the same issues of integrity, ethics, avoiding conflict of interest, respecting processes and avoiding insider dealing. All these things are requirements for corporate governance.”

    FITC Managing Director/ Chief Executive Officer of FITC, Dr. Lucy Newman said the event was organised to take stock of the institutes’ journey since it was established 30 years ago.

    FITC used the opportunity to recognize its past leaders, strategic partners and high volume nominating institutions, frequently trained directors among others.

  • I’ll promote good governance, says Lagos Speaker

    I’ll promote good governance, says Lagos Speaker

    •Ikuforiji declares governorship ambition

    Speaker of the Lagos State House of Assembly and an All Progressives Congress (APC) governorship aspirant Adeyemi Ikuforiji has said his vision for the state was to consolidate and promote the legacy of good governance that Lagos is known for.

    Ikuforiji spoke yesterday at the official declaration of his governorship ambition at the Blue Roof, LTV 8 Ikeja, Lagos.

    At the event were member of the House of Representatives from Epe, Lanre Odubote, members of the House of Assembly led by the Deputy Speaker and Majority Leader, Kolawole Taiwo and Dayo Adeyeye, among others.

    The Speaker said the time has come to re-articulate the vision of the founding fathers of Lagos, and “re-energise the people of this great city”.

    “My dear people of Lagos, I believe that the time has come for us to consolidate the gains of good governance … and take Lagos even further.

    “I intend to build on the achievements of Bola Tinubu and Babatunde Fashola to make Lagos a truly global city.”

    Ikuforiji said if he emerges the party candidate and governor, Lagos would become a global city that all will be proud of.

    He said: “I will work hard to make Lagos the African Alpha City, one that will link the African economy to the world economy. Lagos will constitute the heartbeat of the continent in the 21st Century.

    “I believe that our state has all it takes to seize this role. I am convinced that we can make it happen for Lagos under my leadership.

    “I will ensure that even to the most politically aloof resident, politics will be attractive and no longer perceived as a dirty game characterised by nepotism.

    “My government will combine the populist approach of Lateef Jakande, the financial ingenuity of Tinubu and the vigour of Fashola for Lagos.

    “I am in this race to make a difference; my conscience tells me this is the best time to do the will of God for Lagos. I am well placed to lead this new phase in the history of Lagos.

    “I have the training, the required experience- the vision, the leadership qualities as shown in the last nine years as Speaker.

    “I have suffered all sorts of attempts at distractions. I have triumphed over trumped-up charges, and even survived an assassination attempt. But through it all, I have remained committed to the ideals of Lagos.”

    He promised to bring about major turn around in major sectors of the economy through a 10-point cardinal programme, which connects all critical areas and provides a synergy between these sectors.

    Ikuforiji highlighted areas such as education, health, energy, agriculture, tourism, transportation etc.

    “Within the first 18 months of my government, our hospitals will be upgraded to world class standard. Our schools will be restored to their former glory and I will not rest until the State University is one of the top 500 universities in the world.”

    His wife, Mayowa, said he has a good vision for the state. “I am sure that Adeyemi, my husband, will deliver because he wants to do for you in other sectors what he did for education by ensuring increased allocation.