The Nation Newspaper

Tag: Hammer

  • Before Senate swings the hammer on MTN

    Ahead of a potential pronouncement from the Senate concerning the lingering illegal money transfers allegation slammed on MTN, Nigeria’s Minister of Communications, Abdur-Raheem Adebayo Shittu, has screamed out to the hallowed chamber to look before leaping. In what can be described as an astonishing turnout, Shittu wished for the Senate to troubleshoot unemployment deluge as well as preserve Nigeria’s attractiveness to Foreign Direct Investors (FDIs) by guarding against emotional pronouncements that will scare away MTN.

    Only a few days ago, the minister reportedly told the news agency, Reuters that, “Nobody will say that MTN is not important to Nigeria – we must encourage them, we must not scare them away from Nigeria.” Such comment from a serving minister is tacit policy stating the intent and position of the government in a season of seething recession. And for a drowning man, any grip is a lifeline.  Categorically, these are the government’s first statement on the latest investigation into MTN, indicating the government does not want to see the South African company punished unduly in Nigeria, its biggest market, should the latest allegations prove to be true.

    Recently, it can be recalled that MTN is seemingly building a bank of offensive records in Nigeria; the latest alleged illegal repatriation of $13.92bn profits from Nigeria between 2006-2016 is following closely on the heels of a dispute over unregistered SIM cards where top-shelf mediations and deliberations influenced the government to agree to a reduced settlement on the issue by nearly 70% from $5.2 billion to $1 billion. As a result of this, MTNN CEO, Sifiso Dabengwa, resigned in the wake of the record fine in November 2015. A fourth issue is the hangover of Nigerian consumers’ repugnance towards MTN over the telco’s “unapologetic” poor service delivery. Despite the “elite attack” from the Senate, the support for MTN from the masses is infinitesimal.

    To the ongoing repatriation saga, the duo of Paschal Dozie, Chairman of MTN Nigeria Communications and substantive CEO, Ferdi Moolman both told the Senate during a hearing session that MTN did not break Nigeria’s currency transfer rules. And Adebayo Shittu’s sympathy for the MTN eggheads was unwavering when he said, “They have a right to repatriate their profits as long as it is legitimately done. Any time MTN is suspected of breaking the law it will be investigated, though the facts against them must be established beyond reasonable doubt. Everyone who is in business will have ups and downs. You don’t throw away the baby with the bathwater. The presumption is that they are innocent and we pray they remain innocent.”

    Concluding, perhaps, with a tone of finality, Shittu said, “They (MTN) must stay.”

    Interestingly, “FDI must stay” is the gospel of President Muhammadu Buhari on his frequent globe-trotting missionary journeys. Specifically in Nairobi, Kenya, last year, at a bilateral meeting with Japanese Prime Minister, Shinzo Abe, on the sidelines of the sixth Tokyo International Conference on African Development (TICAD) in Nairobi, President Buhari reassured that, “Existing and prospective foreign investors and investments in Nigeria are secured and would be fully protected.” The president outlined several steps taken by his administration to secure the country and ease doing business in Nigeria. He also told the Japanese leader that, “As a government, we know our responsibility, which is to secure the environment and all local and foreign investments. “It is clear to us that lenders and investors will not fund projects in insecure environments. We realize that we have to secure the country before we can efficiently manage it.’’

    Already, it is public knowledge that MTN has invested over N3.2 trillion in our economy and thus deserves much respect especially as a corporate citizen. Since 2001, MTN is officially recorded to have contributed over N1.6tr to government coffers through taxes, levies and regulatory payments, providing jobs for nearly 1,000,000 Nigerians, directly and indirectly. Also, the MTN Foundation has spent over N18bn through CSR in almost every local government in Nigeria. They’ve disbursed over $3.5bn worth of businesses through adverts and sponsorships, and patronage of Nigerian hospitality industry and contractors.

    Ruminating on the impact a shock decision by MTN could have on the nation, its people and the economy, many experts have warned on the possible treatments to be meted out to the telco. Bismarck Rewane, a frontline economic analyst, has warned about the implication of the continued ‘harassment’ of Nigeria’s leading telecommunications provider, MTN Nigeria by the federal government, adding that this could discourage inflow of foreign investments into the country. He said this as the Guest Speaker at the Media Independent Practitioners Association of Nigeria (MIPAN) 2017 Business Outlook session which held at the Renaissance Hotel, GRA Ikeja.

    “Since we are harassing MTN, nobody is going to invest. Hounding of MTN is not a good thing, because it is sending a negative signal. We need to ensure that we send the right signals to encourage investment rather than to discourage investors”, Rewane who is MD/CEO, Financial Derivatives Company Ltd, said.

    More so, from Rotimi Fawole’s position in his opinion piece in The Guardian of Tuesday, January 24 – “The issues seem fairly clear and free of controversy…at this time when the Presidency is working hard at improving FDI flows…. It is hoped that…the current quiet around the MTN matter is a permanent one” – it seems various commentators on television, radio, newspapers and social media are in spiritual kinship with the Minister of Communications, Adebayo Shittu, President Buhari and Rewane.

     

    • Adulugba, a public affairs commentator writes from Lagos.

  • Hammer on bank chiefs

    •The new team has the duty of restoring Skye Bank’s soundness

    Last monday, the Central Bank of Nigeria (CBN) wielded the hammer on some key members of the board and management team of Skye Bank. At a news conference in Lagos, CBN Governor Godwin Emefiele named Alhaji Muhammad Ahmad as new chairman and Adetokunbo Abiru as new managing director of the bank. To join the duo on the board are Bayo Sanni, Idris Yakubu, Markie Idowu and Abimbola Izu – all of whom had also served the bank as executive directors, to ensure continuity and a smooth transition.

    The bank’s erstwhile chairman, Olatunde Ayeni, managing director, Timothy Oguntayo, deputy managing director, Amaka Onwughalu, and two executive directors, Dotun Adeniyi and Mrs. Ibiye Ekongwere were all said to have resigned voluntarily before the regulatory action. Also affected in the sweep were Victor Odozi, Babajide Agbabiaka, Jason Fadeyi, Kunle Aluko, Victor Adenigbagbe, Abdul Bello and Hajiya Amunna Lawan Ali – all of them non-executive directors.

    According to Emefiele, the “proactive moves have become unavoidable in view of the persistent failure of Skye Bank to meet minimum thresholds in critical prudential and adequacy ratios, which has culminated in the bank’s permanent presence at the CBN lending window.” Providing further justification for the action, the CBN governor stated that “although the existing board had done its best to steer the ship, it had come to a realisation that it would be unable to bring the bank out of its present precarious situation.”

    As would be expected, the measure came with CBN’s assurance that the bank was not distressed and that it was not at a point where depositors’ funds were threatened. Of course, if the assurance amounted to anything, it is perhaps because the regulatory action comes nowhere near the gale of sanitisation that swept the banking industry in 2009, either in terms of scale or depth and which the financial sector mercifully survived. Even at that, Nigerians must be in wonder as to what went wrong with a bank which only in November 2014 acquired the Mainstreet Bank for a whopping N120 billion, in a deal said to have leapfrogged the bank to the rank of the biggest and largest bank in terms of branch network.

    We commend the proactive steps taken by the CBN, both to save the bank and to ensure that depositors’ funds are safe. What it suggests is that the nation has at least learnt something from the 2009 episode when a coterie of delinquent bankers, through wide-ranging but insidious credit abuses, not only plunged their financial institutions into ruin but nearly took down the financial services industry as well. While that mess would cost an initial N620 billion to clear, the repercussions are still being felt in the industry till today.

    Next is to deal with the pervasive culture of impunity in the financial services sector. Now, couldn’t the apex bank have done more than simply allow those alleged to have abused their privileged positions to take a walk? Would it suffice to ask those among the pack said to have garnered humongous loans while shunning the duty of paying back, not excluding those whose bad credit decisions put their financial institutions in the state that warranted the intervention of the apex bank – to go and sin no more? We do not think so.

    Nonetheless, the new board has its job well cut out: to ensure a swift return of the bank to soundness and to restore confidence to the institution as an entity. A good way to start is to pore over the books to see the extent of the bank’s exposure to the former chiefs and to get those among them found to have abused the credit guidelines to either make good on their loans or risk severe sanctions.

    That obviously would be a good signal to stakeholders that the bank is ready to break from the ignoble past.

  • Tenant smashes caretaker’s head with hammer over rent

    A 26-year-old man, Lucky Aigbogun, appeared in an Ikeja Magistrates’ Court yesterday for allegedly smashing his caretaker’s head with a hammer.

    Aigbogun, a resident of Shola Martins Street, Agege, Lagos, is facing trial for breach of peace and assault.

    Prosecuting Inspector Essien Ndarake said the accused committed the offence on June 1 in Agege.

    He said the accused assaulted his caretaker, Morakinyo Sunday, by beating and hitting his head with a hammer.

    “The accused beat and hit the complainant’s head with hammer which caused him harm,’’ he said.

    Ndarake said the complainant went to Aigbogun’s office to demand for the rent he owed when the incident happened.

    “The complainant approached the accused for his overdue hotel rent, which he refused to pay. Aigbogun locked the complainant up in a room and beat him, but when he was not satisfied with the beating, he went further to pick hammer and hit Sunday’s head.

    “The accused later unlocked his door when he saw blood gushing out of the complainant’s head and allowed him to go,’’ he said.

    Ndarake said the offences contravened Sections 166 and 171 of the Criminal Law of Lagos State, 2011, which attracts three years imprisonment on conviction.

    The accused, however, pleaded not guilty to the offences.

    The Magistrate, Mrs E. Kubeinje, granted bail to the accused in the sum of N100, 000 with two sureties in like sum.

    Kubeinje adjourned the case till June 22 for mention.

  • Rangers hammer Nembe 2-0 in Coal City

    Rangers hammer Nembe 2-0 in Coal City

    It was victory song galore for Rangers International following their 2-0 demolition of visiting Nembe City at the Nnamdi Azikiwe Stadium, Enugu yesterday.

    The Flying Antelopes, who went into the match fresh from a goalless draw against Sunshine Stars of Akure and a lone goal defeat away by Giwa FC respectively, appeared determined from the outset to taste victory once more. The last time the John Obuh led Coal City boys enjoyed victory was March 22nd when they ran away with a 2-1 win over league defending champions Kano Pillars.

    The heavy down pour 14 minutes to the end of the match which forced a temporary halt did not however take anything away from the victory song as the homers were already 2-0 up before the rain took the centre stage.

    Rangers Meshack Chibuikem had shot the home side into the lead as early as the 13th minute, even as the visitors continued to fire from all angles to remedy the situation to no avail. The last straw that broke the camel’s back finally came when substitute Christian Obiozor grabbed the second goal in the 58th minute leaving the remaining 32 minutes for a ding-dong affair full of fireworks but with no more goals in sight for either side. Rangers, who began the season with a 2-1 away loss to Enyimba have so far lost two matches, won two and drawn one.

    Nembe on the other hand whose take off in the new season was delayed following the initial brouhaha with the League Management Company (LMC) have now played two matches away, losing both. Their opening match against Akwa United on April 6 equally ended 2-0 in favour of Akwa United

  • Western Region, Plateau, Ekiti once felt the hammer

    Western Region, Plateau, Ekiti once felt the hammer

    He appeared on the screen as a distressed leader, whose administration is full of tension. His voiced was coarse. Apparently, the embattled leader appeared rattled by the security challenge that has threatened to overwhelm him and create a deep hollow in his record. In a fit of anger, the President Goodluck Jonathan declared a constitutionally limited state of emergency in the troubled states of Yobe, Borno and Adamawa.

    To analysts, the decision has two implications. The ‘emergency rule’, which will not affect the structures of government in the affected states, pales into the strategic acceptance that Yobe, Borno and Adamawa states are now disaster zones. The governors, who do not have control over the security agencies under the lopsided federal arrangement, are not to blame. However, the second implication is that the insecurity in these states, two of them (Borno and Yobe) are under the control of an opposition party, may be politically exploited to fuel more tensions that could later warrant the declaration of full emergency.

    The invocation of the power of emergency conveys the impression that all is not well with a section of the country, and indeed, the country. Historically, when the late Prime Minister Tafawa Balewa declared a state of emergency in the defunct Western Region, the late Premier Ladoke Akintola stepped aside for the emergency administrator, Senator Koye Majekodunmi, who ran the affairs of the region for six months. A state of emergency became more compelling, following the crisis of leadership that enveloped the region. The ruling Action Group (AG) had split into two camps, which revolved around the party leader and Leader of Federal Opposition, the late Chief Obafemi Awolowo, and his deputy, the late Akintola. Two personalities; Akintola of the Nigerian National Democratic Party (NNDP) and Alhaji Dauda Adegbenro of the AG, were laying claims to the premiership. There was the breakdown of law and order in the Western regional House of Assembly, following the disruption of proceedings by Hon. Oke from Ogbomoso Constituency. After the expiration of the six-month emergency rule, the late Akintola regained his position.

    Thirty two years later, former President Olusegun Obasanjo declared state of emergency in the crisis-ridden Plateau State for six months. He informed the Senate after the announcement. Governor Joshua Dariye was shoved aside and an administrator, Maj-Gen. Chris Ali, came on board. The emergency declaration followed the religious crisis that engulfed the state. As the Christians and Muslims clashed, there were bloodshed and reprisal attacks in the neighbouring states. The bloodletting was said to have claimed over 2,000 lives. Obasanjo, who also sacked the House of Asembly, explained that the emergency powers were invoked to stamp out sectarian violence and restore order. He blamed Dariye for being indecisive, stressing that his aloofness had further compounded the crisis. Following the expiration of the emergency rule, Dariye regained his lost power.

    Also, On October 19, 2006, Obasanjo declared a state of emergency in Ekiti State. The executive and legislative arms were the casualties. The House of Assembly had impeached the governor, Ayo Fayose, and appointed the Speaker, Sunday Aderemi, as the acting governor, instead of the deputy governor, Mrs. Biodun Olujimi. There was crisis. Fayose claimed that he was illegally removed. Mrs. Olujimi could not take over. Aderemi was parading himself as the acting governor. Tension rose in the agrarian state, following the remarks by the Chief Judge and Attorney-general that the governor was illegally removed. Obasanjo declared the controversial impeachment ridiculous. He said he was alarmed at the presence of three governors in Ekiti State. “We have come to a sad, ridiculous and unacceptable situation in Ekiti State where we have three governors. It is dangerous for democracy to allow this flagrant violation”, he added. An administrator, Gen. Adetunji Olurin (rtd), was appointed for the state.

    Last year, following the escalation of crisis in Riyom, Jos North, Barkin Ladi and Jos South councils, the Federal Government also declared limited emergency in the local governments.

     

  • Idoko survives Mimiko’s hammer

    Idoko survives Mimiko’s hammer

    Ondo State governor, Dr Olusegun Mimiko has dissolved the board of the Director of the Ondo State Football Agency (OSFA), but a member of the Nigeria Professional Football League (NPFL) League Management Committee, Mike Idoko was unaffected.

    Announcing the dissolution of boards of all parastatals and the state Executive Committee on his inauguration on Monday, Dr Mimiko thanked them for their contribution during his first tenure and wished them luck in future endeavours.

    The dissolution of the boards’ parastatals including that of OSFA, it was gathered affected only the political appointees which saw the exit of the chairman, Chief Segun Adagunodo and his board but Idoko, who was appointed as Executive Director before his new designation as director remains.

    “It’s true the board of OSFA has been dissolved by His Excellency, Governor Olusegun Mimiko but Idoko is not affected because he’s a technocrat unlike the board members whose appointment were purely for political consideration,” a special adviser to Mimiko disclosed.

  • The President’s men’s hammer on NGF

    The President’s men’s hammer on NGF

    By his age, he is old enough to be the father of President Goodluck Jonathan. He once declared himself as the president’s godfather and the President has described him as his father. Chief Edwin Clark, a former Minister of Information, is seen by many as one of those who speak the President’s mind. Not a few believe that once he speaks, his sentiment can be taken as the President’s.

    There are other men, who share such slot with the elder statesman. One of them is Minister of Niger Delta Godsday Orubebe.

    Of recent, both men have attacked the Nigerian Governors’ Forum (NGF) and its leadership, Rivers State Governor Rotimi Amaechi.

    Clark, in a recent open letter to the NGF, described it as undemocratic and practically called for its ban.

    He said: “The Governors’ Forum is now acting as an opposition party to the Federal Government. It deliberately breaches with impunity the constitution of the Federal Republic of Nigeria and the constitution of the PDP, without any challenges. The Forum has now become a threat to the peace and stability of Nigeria. Most of the governors today are more dictatorial than the then military governors.

    “The over-bearing influence of the Governors’ Forum in the polity has become a matter of serious concern. The activities of the PDP Governors Forum, in particular, have become very disturbing and call for urgent correction as they are fast eroding the authority and the supremacy of the party and posing a serious threat to our democracy. The forum has become a powerful tool in the hands of the governors who now use it to pursue and promote their individual and collective interests with little or no regard to the letter and spirit of the Party’s Constitution and supremacy.”

    Orubebe, who was nominated by Clark into the cabinet, was more frontal in his attack. He went straight for Amaechi’s jugular.

    He said: “Unfortunately, the man (Amaechi) has forgotten that it was by the grace of God that he became the governor of Rivers State. He has forgotten so soon. He has arrogated to himself, powers that he does not have. It is God that has powers.

    “Today, he sees himself as the governor of governors and he begins to feel that he is even bigger than the President of the Federal Republic of Nigeria. But I want to let him know that God is still God. He must have respect for the Presidency. He must have respect for the President of this country.

    “It is sad. It is unfortunate that people from the South-South, even governors, particularly Governor Rotimi Amaechi, have no respect for the President of this country. I think this is the right time we should let him know and I have decided to speak because this is the time to speak.”

    Amaechi, who spoke through his Chief Press Secretary, David Iyofor, said: “Contrary to his madcap vituperations, Governor Amaechi has tremendous respect for the office of the President of Nigeria and President Goodluck Jonathan. The office of the President of Nigeria is a big institution that deserves utmost respect and it would be grossly irresponsible for anyone to disrespect Mr. President, which unfortunately Minister Orubebe is doing by dragging the President’s name into his inability to deliver on the East –West road.

    “Minister Orubebe seems to suffer from a severe form of selective amnesia as he conveniently forgets that the same Amaechi he (Orubebe) now contemptuously, disgracefully and insolently disparages and flippantly accuses of not respecting Mr. President led Rivers people to overwhelming vote for and gave President Jonathan the highest votes by any state in the country at the last presidential elections. Minister Orubebe should please tell us, what respect, regard and show of love is bigger than that?

    “Minister Orubebe’s imprudent and reckless attacks on the person of Governor Amaechi are a dubious but obvious attempt by the minister to divert attention from his abysmal failure to deliver on the East- West road. This callous attempt to drag the President’s name into it is what is most disrespectful and irresponsible.

    “I challenge Minister Orubebe to show the world projects he started and completed in the Niger-Delta as Minister of Niger-Delta Affairs. I challenge Minister Orubebe to show the world one project he started and completed in Rivers State with the huge resources allocated to his ministry. “Or is Rivers State not part of the Niger-Delta, Minister Orubebe?”

    Former Minister of Foreign Affairs Prof. Jibril Aminu has also attacked the NGF, calling it an oppressive group. He said the governors were not practising democracy in their states.

    He said: “It is very strange. I worked in many countries and have not seen anything like such a forum. The Governors’ Forum is what is used to oppress everybody, including the President.”

    He said it was difficult to fathom that governors wanted to have their way in everything, “including nominating who becomes an ambassador or member of the National Assembly. I don’t know how the forum came about in this country. And if it is not checked, it will put the country in serious trouble, as the state chief executives unite to challenge the Federal Government.”

  • AFCON: CAF Hammer falls on Ethiopia

    AFCON: CAF Hammer falls on Ethiopia

    The Confederation of African Football has fined Ethiopia’s Football Federation $10,000 after the team’s fans hurled vuvuzela’s and other missiles onto the pitch during Monday’s 1-1 draw with Zambia at the African Cup of Nations, futaa.com reports.

    Ethiopia’s return to AFCON after over three decades absence has been marred with poor disciplinary record, a situation which prompted the Confederation of African Football to slam a heavy fine on the East African country.

    During Monday’s match, the Ethiopian keeper was red-carded for committing a serious foul against his Zambian opponent and he will miss the team’s next two matches against Burkina Faso and Nigeria.