Tag: inclusion

  • Taking financial literacy, inclusion to youths

    The Central Bank of Nigeria’s (CBN’s) financial inclusion project, backed by the Bankers’ Committee, is getting the support of many commercial banks. FirstBank has, through its XploreFirst Savings Campaign, empowered university undergraduates with cash and scholarship. The campaign is part of the lender’s plan to get more youths into the financial services net and boost students’ knowledge of savings and investment, writes COLLINS NWEZE.

    THE Central Bank of Nigeria‘s (CBN’s) Bankers’ Committee and commercial banks are taking financial literacy and inclusion of youths in the sector very seriously.

    CBN Governor, Godwin Emefiele has continued to take steps to deepen banking. The hope for Nigeria to achieve 80 per cent financial inclusion rate in next year received a major boost, when the Enhancing Financial Innovation & Access (EFInA), released its last year’s survey. It showed that 63.6 per cent of the country’s adult population has access to financial services.

    For FirstBank of Nigeria Limited, now is the time to promote financial inclusion, especially among the youth and at the grassroots. The commercial bank took its financial inclusion and youth empowerment to institutions of higher learning, targeting the students in financial institutions in its XploreFirst Savings Account campaign.

    In alignment with its financial inclusion drive, FirstBank has completed a campaign for rewarding its youth segment customers for using their FirstBank’s XploreFirst Savings accounts and encouraging healthy savings. The promo, which kicked off last October 1 ended on March 30, this year.

    XploreFirst account was  designed for students between 18 and 29. A minimum amount of N1,000 is required to open the account and account holders are to maintain a balance of N200.

    To participate in the promo, XploreFirst customers ware expected to save or maintain a minimum amount of N10,000 in their accounts during the promo to be eligible for the scholarship raffle draw. Incremental deposits of N10,000 in the account entitles the account holder to multiple tickets for the raffle draw.

    One hundred and eighty winners emerged from the promo with 18 account holders (three from each of the six geo-political zones) being rewarded with scholarships worth N150,000 in a grand finale raffle draw and N5,000 airtime as consolation prizes for 180 account holders.

    According to the Group Head, Products & Marketing Support, Abiodun Famuyiwa, “FirstBank recognises the impact of a healthy savings culture in promoting financial inclusion among individuals, especially the youth. And with the saying, the youth are the leaders of tomorrow, we believe that with XploreFirst account, the youth are well positioned to take the lead in their financial activities through the exciting benefits the account offers.

    ‘’So, if you are a student between  18 and 29, take a walk into any FirstBank branch near you to open an XploreFirst account. Start your journey to financial freedom  with Firstbank.”

    At the final draw of the promo, FirstBank splashed  scholarships worth N2.7 million on 18 customers to boost savings culture and promote financial inclusion among students.

    The winners were drawn from  the six geopolitical zones and Lagos at the final/grand raffle of XploreFirst promo in Lagos.

    Some of the scholarship winners include Offiong Michael, Ezugba Chukwuebuka,  Olorunfemi  Oluwatunmise,  Adekale  Adenike and Agbakwuru Dorcas.

    The winners emerged through an electronic draw handled by Tequila for the bank and supervised by KPMG, National Lottery Regulatory Commission, Lagos State Lottery Board and Consumer Protection Commission (CPC).

    FirstBank  Group Executive, e-Business & Retail Products, Chuma Ezirim, said: “XploreFirst is a FirstBank savings account variant designed specifically for students between 18 and 29 years.”

    Ezirim said: “Customers are offered yearly scholarships of N150,000 as incentives to maintain a certain amount of deposit, in this case, N10,000 in their account over a 30-day period to qualify for the monthly draws and giveaways.

    “Customers who would successfully maintain the set balance over the six-month period are eligible to win the jackpot of N150,000, the grand finale prize.”

    Ezirim noted that the initiative would be sustained by the bank in the future in line with CBN’s financial inclusion mandate.

    The bank’s Head, Youth/Women Banking Olufemi Odumuboni  said the promo was centered on making people to engage in financial discipline.

    Odumuboni said winners were selected based on certain principles that made them eligible for the draw.

    He explained that apart from the N2.7 million set aside for the yearly scholarships that the bank had splashed about N900,000 to customers that emerged winners at the various monthly draws for data purchase for their mobile phones.

    “Winners from the monthly draw selected from the bank’s six geopolitical zones are entitled to N5,000 each, which they are encouraged to use for data purchase for their mobile phones,” Odumuboni stated.

    An executive of Consumer Protection Council, Susie Onwuka,  commended the bank for ensuring transparency throughout the promotion process.

    Onwuka said the bank had deployed modern technology in the promo to eliminate bias, noting that, the agency was happy with the process and the bank. “Promotions should be registered to show transparency and ensure fairness to the consumers,” she stated.

    Onwuka continued: ‘’As far back as 2008, the bank has been running promos on savings. But this year, it decided to break it down to favour the youth population. This is why we singled out this very product, which is xplore first and customers that open this account open it to this reward scheme. The bank actually has three different account for the youth segment.

    “We have a special account for zero to 12 years, known as the kids’ first account.

    “What we hear other players in the industry do is the usually method of rewarding customers. But we try to segment the market and we have come down to this segment which is the youth segment and most are university undergraduates. Our expectation is that this initiative is going to return a lot of impact to the bank, in terms of customer acquisition, customer retention and brand visibility. The bank has done a lot since 2014 in our engagement initiative to come with the understanding that as big as the bank is, first is still nimble.

    “With over 700 branches, we try to spread this initiative across the six geo-political zones of the country where the bank is. For a political zone, such as Lagos, we have given out five winners, Southwest, we have given out five, we have gone to Northcentral and we have given out five and at Southsouth, we have gone out five. Therefore, with five winners emerging from the six geo-political zones, that is 30 winners. Of course, for the next six months, this is what the bank will continue to do. The promo will end in a grand finale draw that will enable winners to get N150,000.”

    Famuyiwa noted that the bank believes in investing in the youth segment of the market, adding that youths are the hope of the country; therefore, the bank has devised a platform where they would interact with them.

    He noted that the focus of the bank in the promo is to have more youths in its database, adding that traditionally, some people see FirstBank as the bank for the old people.

    Famuyiwa expressed confidence that the bank is committed to having youths opening accounts with them and fill the bank “because FirstBank is a youth-friendly bank, and we have so many products focused on the youth”.

    He noted that the promo had been ongoing for years, and that this was the first of the sessions, noting that it would run for six months. “This is the first month, out of the six months. In December, we followed at the qualifying candidates.”

    According to Famuyiwa, “As a bank, they believe in investing in the youth segment of the market because we believe that they are the hope of the nation.’’

    He noted that the bank has devised a platform for organising the programme to have more youths.

    “Traditionally, people see First Bank as an old bank for the old people. When we looked at our database, we realised that have more many youths than the other banks. We are not there yet; we still want to have more of them. We want to have many of these youths opening accounts with us, and be able to fill the bank because first bank is a youth-friendly bank, because we have so many products on youths. We have a drive towards digitalisa-tion in the bank,” the bank said.

     

  • Artisans seek inclusion in BoI’s loan scheme

    The Association of Skilled and Vocational Artisans of Nigeria (ASVAN) has accused the Bank of Industry (BoI) of excluding its members from accessing loans  after meeting loans criteria.

    Its National President, Everest Obijuru, who spoke  at ASVAN National Trade Summit in Abuja, said artisans have not been able to access a dime from the BoI.

    Obijuru said: “If BoI is doing what it says it is doing on radio, television,  artisans should have been able to access this loans.

    “We have over 11 million and 32  members all over the country,  none of our members has gotten BoI loan, even the N50,000 the N10,000 Trader moni, we have not accessed any of these loans.

    “All efforts to partner with BoI have not yielded the desired result and we were further saddened by its poor response to our invitation for participation.

    “The BoI came to our office, we did a lot of things with them, they gave us full assurance, we were waiting for 70 per cent disbursement and we did not get it, not the first time not the second time, since 2017, our members have met all the BoI criteria’s yet could not get it.

    “We understand that there are foreign incentives that comes into the country for artisans, but we have not been able to access any since we started four years ago, the idea behind our coming together is to build a hub and ensure our members are in good hands.”

     

     

    Obijuru said there is need to draw the attention of the government to the need of artisans, for them to equally be in full partnership with ASVAN because they are the engine room of the economy, with these they can implement the Social Safety Net Program so as to make the intervention sustainable.

  • Ambode: Inclusion as solution

    Lagos State Governor Akinwunmi Ambode made history when he delivered the Convocation Lecture of the University of Lagos (UNILAG) on May 8.  His words: “True, I stand before you as the first UNILAG graduate to become Governor of Lagos. I am humbled by this distinction and elated to be the first to walk this path.”  The title of his lecture was “Inclusion: Path to a new nation.”

    He told the 2017 graduands:  ”In 1984, I attended a convocation much like today’s. On that day, I sat where you, now sit. I was an eager yet apprehensive young man set to graduate at 21. Although ready to tackle the world and make my mark, I was also a bit uncertain about what that world and life would bring.”

    How Ambode rose to his current position illustrates the power of performance. Between 1988 and 1991, he was assistant treasurer, Badagry Local Government, Lagos State.  Ten years later, he became auditor general for Local Government in Lagos State. In 2005, Ambode was appointed permanent secretary of the Ministry of Finance.

    As accountant general for Lagos State from 2006 – 2012, Ambode was “in charge of all the financial activities of the state and directly responsible for over 1400 accountants in the state service.” It is to his credit that “under his watch, the State Treasury Office (STO) revolutionised the way Lagos State finances were raised, budgeted, managed and planned.” Also to his credit:  ”In his six years as the Lagos State accountant general, the state’s financial performance improved visibly with the budget performing at a remarkable average of 85% annually.”

    These features of Ambode’s profile demonstrate that he is probably the most experienced individual in terms of familiarity with the state civil service operations to attain the position of governor since Lagos State was created in 1967.  After a 27-year civil service career, Ambode voluntarily retired in 2012 and started a consulting career. Then politics came up.  It is interesting that he was governor when Lagos celebrated its 50th anniversary in 2017.

    In three years as the governor of Nigeria’s most developed state, Ambode has shown that the pursuit of development requires politics of development. Through his concept of “One Lagos,” Ambode has promoted inclusive governance as key to inclusive growth.  It is commendable that his administration’s inclusive governance and inclusive development efforts continue to drive development at the grassroots.

    A winning governor will attract endorsements that are justifiable.   So, it is logical and predictable that Ambode is enjoying an abundance of justifiable endorsements.  He is qualified to seek reelection and his endorsers are backing him for a second term in office. The beauty of the endorsements is that they are based on what he has to show for his time in office so far. In other words, he has attracted powerful endorsements through the power of his performance.

    The point is that Ambode represents forward-looking governance, which Lagos needs to develop.  Listed 12th among the world’s largest 35 cities in 2015 when Ambode became governor, the former federal capital is work in progress, and the development-related results of Ambode’s progressive efforts are unmistakable and applaudable.

    The range of Ambode’s vision leaves no room for underdevelopment in any area, whether it is lighting up the city, keeping the city clean, building homes, rebuilding roads, providing security, tackling transportation, building theatres and so on.

    It is noteworthy that Ambode, in his lecture, modestly acknowledged the work of specific previous governors. “First, the administration of Asiwaju Tinubu and then that of Babatunde Raji Fashola, moved the master plan from concept to concrete reality,” he noted, adding,  “My administration is both a beneficiary of their work as well as a continuance of that work. We strive to go further because we have the opportunity to build upon what they have done.” Now the state has developed to the point where the Ambode administration is talking about turning Lagos into a Smart City.

    It was appropriate that he mentioned some of his achievements as governor. He observed: “In every way, our infrastructure is improved.  Our roads are better, our mass transportation has expanded, hospitals give better care to the sick and afflicted, education is improving and more affordable housing is being constructed before our very eyes.”

    Remarkably, Ambode focused on the subject of inclusion in his convocation lecture.  He said: “Here, I offer Lagos State as an example of what is possible for all Nigeria and Nigerians when we practice the governance of inclusion instead of the old, malign ways of exclusion… You see, the inclusion I talk about is more than a pretty word to say; so that I sound like some type of enlightened politician.” He added:  ”Inclusion is a principle by which we put to constructive use the full industry and skills of the people; Rich and Poor, Old and Young, Men and Women, Boys and Girls. This results in greater individual and collective productivity…Inclusion is not only the moral thing to do, it is the smart thing as well.”

    It is testimony to Ambode’s quality governance that the country’s other states cannot resist applauding his governance model. He has shown that well-rounded governance is an expression of well-rounded thinking, and has demonstrated the possibilities of political governance in a country that needs models of creative thinking in high political office.

    Ambode’s convocation lecture also focused on the connection between inclusion and federalism. He argued:  ”It is my unyielding belief that the principle of inclusion which has served Lagos so well can be employed in other states with similar effect…However, for states to give optimal service to their citizens the principle of inclusion first needs to be applied to the division of power between the Federal and State governments.”

    His solution is based on his concept of inclusion: “There is widespread consensus that too much power sits in the centre. We can correct this imbalance by reallocating power and responsibilities between the States and Federal government by amending the list of exclusive and concurrent powers and duties of these governments to reflect current realities in the nation.” Hopefully, more political players will pay more attention to inclusion.

  • Inclusion: Path to a new nation

    Being the University of Lagos 2017 convocation lecture delivered by Mr Akinwunmi Ambode, Governor of Lagos State on tuesday, May 8, 2018 at j.f. ade Ajayi Auditorium , University of Lagos, Akoka.

    I Thank the Vice Chancellor, Professor Oluwatoyin T. Ogundipe and the Senate for the singular and profound honour of addressing this convocation. The positive role the University of Lagos has played in Nigeria and Africa cannot be overstated.  Through its halls have walked leaders and innovators in all academic disciplines; people who have devoted their knowledge and abilities to making our lives and this nation better.

    Drawing students from across Nigeria, UNILAG is an institution fertile with the type of social and educational interaction and inclusion vital to forging a robust and progressive country.

    To declare that UNILAG is the best school in the land, is not an empty boast nor is it a hopeful prediction to be left for future evaluation. It is a present fact. Thus, you, the graduating class of 2017, are but the latest inheritors of a lineage of academic and civic excellence.

    In 1984, I attended a convocation much like today’s. On that day, I sat where you, now sit. I was an eager yet apprehensive young man set to graduate at 21. Although ready to tackle the world and make my mark, I was also a bit uncertain about what that world and life would bring.

    I knew I was blessed to have attended this University with its sterling faculty, leadership and staff, fine traditions and robust student body. Now looking back, I realize that this school had prepared me better than I prepared myself for the challenges and opportunities that were to come.

    If you ask me a thousand times if I would have matriculated anywhere else, a thousand times I would have said “No, I will stay right here.”  I am forever grateful for the chance to have studied and learned here.

    34 years later, I now look at you only to see myself. You are as I was, except for one important thing: You are better. Whatever my generation has achieved, you must go further and do more to build a new and better nation.

    True, I stand before you as the first UNILAG graduate to become Governor of Lagos. I am humbled by this distinction and elated to be the first to walk this path. But I know I shall not be the last to walk it.

    I will not be the last graduate of this excellent school to become Governor of this State that is the Center of Excellence of our beloved nation.

    Yes, all of you cannot be State Governors. Yet, in your own way, you must be leaders that correct the direction of our nation by improving our social attitudes and by relying more on conscience than on cunning in the conduct of its affairs.

    We must break down old walls in order to erect a better home.

    Yet good things do not just happen. Bad and evil come easily because they are the product of common human failings and lapses left too long uncorrected. But good and fine things are more difficult because they always must be crafted with adept care.

    Excellence is never by accident. It is the product of wise exertion.

    For you to answer the call of this nation for your generation to be better than preceding ones, you must strap yourself to courage, you must peer beyond the immediate to envision a better future and you must have the enlightened decency to refuse to yoke yourselves to ancient and irrational biases and hatreds that have no place in the nation we seek to build.

    We all must understand this important reality: None of us chooses the world into which we are born. Yet we can choose to make of that world what we want it to be.

    None of us can influence the place and time we are born or of the family or nation into which we come.

    Some will say that a person is of this or that ethnic group, nationality or faith by incident of birth as if these things occur by cosmic whim or the roll of dice.

    I don’t believe in accidents. Instead, I believe we all have been placed here by God-given design and purpose.

    If our presence is surely born of God’s hand then we have not been placed on earth to hate another person simply because they were born of a different ethnic or religious stock. We cannot allow ignorance to fuel hatred in us. If we do, then we shall hold fast to a damaging ignorance because we have grown comfortable in hating one another.

    So comfortable in disliking others and so eagerly basking in our own ignorance, we do grave disservice to ourselves.

    We have not been placed here to oppose, obstruct and destroy our fellow man.

    We honour the God who made us and we honour ourselves by honouring the rights of others and being concerned with the welfare of others as well.

    We are here to uplift and improve everything around us. This requires compassion for each other.

    Sadly, human history is checked with examples of peoples and nations that have taken the wrong path by embracing the lessons of injustice and meanness. These places too diligently studied war, prejudice and division even among fellow citizens.

    Eventually, all such peoples and nations fade away, destroyed not so much by external threats but by their own strong but ignorant hand.

    Fortunately, there are examples of nations and peoples that rose above pettiness to become great through unity, collective purpose and intelligent effort.

    We, as Nigerians, have a choice.  We can follow the path of folly or we can follow the road to our appointed destiny.

    For me, there is no choice.

    Yet, to assume the right course is also to depart from how we have misgoverned ourselves for much of our history.

    Colonialism brought many groups together into one country but manipulated our fears so that we suspected the worst of each other.

    We were wise and courageous enough to retire colonialism but we were too weak and imprudent to excise the divisive mind-set that colonialism brought.

    Thus, we live in the same house but not as members of the same family. We have known each other all our lives but behave as if we are abject strangers. In this house, we live in discomfort. We sleep with one eye open, one foot on the ground and our bedroom door locked if not also bolted.

    The minute something happens, we jump to hurl the worse accusations at fellow citizens of other ethnic and religious groups.

    This is because we have been taught to view the world as a zero-sum environment. According to this forlorn outlook, whatever one person gains must come at the expense of another. Your gain is my loss and vice versa.

    Such a mind-set is injurious to any household, be it a single family or a vast nation. It leads to constant bickering and battle. For it tells us there are no solutions that benefit all.  There is only contestation about who shall win and who shall lose.

    This mind-set constructs enmity and friction as if it were a national monument.

    This perspective implies things cannot get better. That people cannot work together to produce more wealth, prosperity and opportunity so that everyone can reasonably expect to get a larger share of an expanding flow of wealth as the future unfolds.

    Cynical people tacitly believe the supply of wealth, prosperity and all good things is static if not diminishing. Thus, competition grows more intense by the day as more people compete for possession and enjoyment of static number of valuable items.

    Dig deeper and this mind-set reveals something terribly barren in those who hold to it. They believe we are not in possession of the intelligence, ability and vision to improve our political economy in order to create more jobs and elevate the standard of living for most Nigerians.

    Things will always be as is they are is their motto.

    Well this flaccid motto cannot be our motto and the cynical ways of these people cannot be our ways.

    Instead, I hold to the proposition that we shall become the best of who we are.

    We do this by keeping our fellow man in heart so that we do not end up lunging at each other’s throat.

    Here, I offer Lagos State as an example of what is possible for all Nigeria and Nigerians when we practice the governance of inclusion instead of the old, malign ways of exclusion.

    Since the return of civilian rule in 1999, Lagos has been a fount of economic progress and social understanding and tolerance.

    Led by Asiwaju Bola Ahmed Tinubu, a group of dedicated and committed Lagosians developed a blueprint for the transformation of the State. So much of the State had fallen down and decayed. The State’s glory seemed a thing of the past.

    But we have steadily repaired it. First, the administration of Asiwaju Tinubu and then that of Babatunde Raji Fashola, moved the master plan from concept to concrete reality.

    My administration is both a beneficiary of their work as well as a continuance of that work. We strive to go further because we have the opportunity to build upon what they have done.

    Through the years, we have steadily repaired our State, modernizing and retooling things to the point where we now talk about turning Lagos into a Smart City.

    In every way, our infrastructure is improved.  Our roads are better, our mass transportation has expanded, hospitals give better care to the sick and afflicted, education is improving and more affordable housing is being constructed before our very eyes.

    The face of Badagry is changing. The makeover of Oshodi will cause you to marvel at the transformation that can take place even in densely populated urban space when there is the political will and determined creativity to give the people the infrastructure they deserve.

    We are improving and expanding the Airport Road so that a trip to and from the airport no longer takes more time than your flight itself.

    The Lekki-Epe axis was once an isolated, inactive tract of land. Now it bustles with energy, activity and prosperity due in large measure to the roads and other infrastructure our State has constructed.

    We have and will continue to build bridges linking parts of Lagos that have not been linked before so that commerce, transport and communication among Lagosians will be facilitated.

    We aim to make this state fully integrated so that one part is well connected to any other.

    All of this work is underpinned by the belief that Lagos belongs to all of us. Lagos is not an exclusive club. It is an inclusive family.

    What makes you truly Lagosian has little to do with where you were born, the origin of your surname or which Holy Book, if any, you read.

    What makes you Lagosian is whether or not you are of the right civic and individual spirit. If you want to innovate and make things better, then you are Lagosian in heart;

    If you seek to establish business, give jobs to people, and enrich the world around you, you are Lagosian at heart;

    If you do not mind if a person of a different group or religion prospers so long as you too have the fair chance to do the same, then you are Lagosian at heart;

    If you don’t mind hard work for yourself but also believe that everyone has the right of quiet enjoyment of the fruits of their legitimate labour and toil then you are Lagosian at heart.

    It is in this spirit that we build Lagos anew. It is in this spirit that we can build a new Nation.

    The roads that are built are for everyone. There is no such thing as a Yoruba, Igbo or Hausa road. Everyone equally suffers a bad road and equally benefits from a good one.

    In Lagos, there is no legitimate business or trade you cannot enter because of ethnicity, gender or religion. There is no place you cannot go. There is no section where you cannot live.

    The door is open to all whether you come from North, East, West and South or just across the street.

    As long as you seek to engage in lawful business, you will encounter no barriers from this government. If you have a good idea, we will encourage it, we will invest in you regardless of where you came from.

    We care less about where you came from. We care more about where you seek to go.

    You see, the inclusion I talk about is more than a pretty word to say; so that I sound like some type of enlightened politician.

    Inclusion is a principle by which we put to constructive use the full industry and skills of the people; Rich and Poor, Old and Young, Men and Women, Boys and Girls.

    This results in greater individual and collective productivity. Reform, change and growth come at a faster clip. Concerted effort and the visible benefits of that collective exertions further divorces the people from the zero-sum mentality that fosters stagnation because it pits us against each other in perpetual friction.

    Inclusion is not only the moral thing todo, it is the smart thing as well.

    Contrast it with societies that erect walls and impediments to keep certain people from entering important political and socio-economic fields of endeavour.

    These societies squander vital energy and waste finite resources in order to hamper segments of their populations from making the optimal contribution to their personal and collective existences. The energy and resources could have been used to develop society and promote harmony. Instead it gets used to depress growth, mistreat people and foment discord.

    In effect, much of society’s potential for growth and prosperity is used to ensure that growth and prosperity do not come to all.

    A favoured group seeks to deny another group the adequate enjoyment of its share of the collective work product for unfair reasons of religion, ethnicity or colour.

    This exclusive society is founded on the cynical premise that one man’s bounty must always come at the invitation of another man’s poverty. Again, the zero-sum mind-set rears its ugly head.

    This perspective is a tempting lure for it is simple to understand and it speaks to the element of selfishness that infects every human being to some degree.

    But having gone through the rigors of education that this institution requires, all of you know fully well that you cannot accomplish anything of excellent and lasting value by surrendering to base impulses and shallow thinking.

    Our duty is not to entertain and exalt the worst of human nature. Instead, we are ordained to cultivate the best of human ideals so that we can abide in fairness, prosperity and security.

    This is our objective in Lagos. We have recorded some progress along this pleasant road. Yes, we still have much to do and far to go. Yet, I am encouraged by the fact that we will do it as an inclusive team linked together by a just and compassionate social compact.

    It is my unyielding belief that the principle of inclusion which has served Lagos so well can be employed in other states with similar effect. In effect, our dear nation, Nigeria.

    However, for States to give optimal service to their citizens the principle of inclusion first needs to be applied to the division of power between the Federal and State governments.

    There recently has been clamour for devolution of power and true federalism. While much of this talk is good intentioned, I believe it misses the crucial point.

    The linchpin of good governance is not found in the system deployed but in the quality of its administration.

    We must implement the federal system as it was intended to be. Heretofore, too much power has resided in the National government.

    This has been to the detriment of the authority and efficiency of both State and Local governments.

    This has caused a governance vacuum of sorts. The Federal government is burdened with tasks beyond the reach of its best competencies. The States and Local government are dissuaded from treating many matters of a local nature that are better left in their hands due to their greater knowledge of local conditions.

    We need to shift some functions/responsibilities from the national government to place more of it in the hands of the States. This is how we give federalism the best chance to work. Until we do this, calls to abandon the current system serve not to fix the underlying problem.

    If people are imbued with the exclusionary mind-set that power must be centralized, any structural reform will be distorted to serve the purpose of those who favour concentration of power.

    Hence, I am concerned about the intense focus on wholesale change to our political architecture. Such a thing is inherently time consuming and costly despite the claims that money will be saved.

    Additionally, such attempts at enormous and rapid political change causes economic uncertainty and dislocation. Given our tenuous relationship to prosperity, Nigeria cannot afford this self-affliction.

    Prudence counsels that we first attempt a more equitable level of fiscal federalism before adopting drastic alternations that likely plunge us toward the unknown.

    There is widespread consensus that too much power sits in the center. We can correct this imbalance by reallocating power and responsibilities between the States and Federal government by amending the list of exclusive and concurrent powers and duties of these governments to reflect current realities in the nation.

    These changes will have beneficial impact visible within a short amount of time. The impact of these changes, though political in origin, will be economic in nature and it is in our economic life where the nation needs the most help.

    Resolving the problems regarding federalism and the herdsman’s, as with so many other problems, requires us to look beyond prejudice and hatred.

    Exploiting fear and bias is easy and sings well in the short-run. Over the longer-term, it is a bitter cup that cures nothing but ferments greater hatred and larger problems.

     

    CONCLUSION

     

    To the graduates, I ask that you refuse the old ways of ethnic, religious and regional bias that have plagued our national politics for so long.

    If you knew the vastness of the common challenges that face us all as Nigerians and Africans, you would quickly jettison the ethnic pettiness and religious bigotry that threatens to divide us. The rest of the world sees us as Black, African and Nigerian and will deal with all of us in the same manner. That larger world cares little about the internal divisions we see as so profound.  In this context, we are in the same boat and share the same fate.

    Unless we join in concerted effort to help each other toward a better more united Nigeria, we all shall fail in our different ways.

    Moreover, you did not attend this fine institution to fail either as an individual or as a nation.

    You now assume the active stage of human affairs where what you learn must be put to use and practice. Employ what you have gained here for the good of Nigeria and hold true to the mind-set that our ethnic and religious differences makes no one a lesser or better person.

    We are linked together in common destiny. Thus let us work together in common purpose in order to make that destiny, the one we truly seek, which is an inclusive and forever just and prosperous Nigeria.

  • APC chieftain calls for more democratic inclusion

    APC chieftain calls for more democratic inclusion

    A chieftain of the All Progressive Congress (APC) in Akwa Ibom State, Prof. Richard King, has called for the strengthening of democratic institutions to give Nigerians more opportunities to participate in the democratic process.

    Speaking with The Nation in Uyo, the Akwa Ibom State capital, King said Nigeria will only get it right when she allows true democracy to prevail and “citizens are guaranteed a sacrosanct role in her leadership recruitment process.” He said democratic institutions are weak and frustrating because citizens are denied participatory role and the system continues to pander to the interest of a few.

    King added: “When the entire process is non-inclusive and operates at the detriment of the collective interest or general good, for so long will the governing class be aligned to the selfish ambitions of political godfathers; and never to the people’s good.”

    King said the people must be allowed to participate meaningfully in the elective process. His words: “The most critical link in the governance chain lies in peoples’ right to choose their representatives.”

    King, who is a Professor of Fisheries and Aquaculture, flayed the role of the state independent electoral commissions in conducting local government elections, saying it amounts to a travesty and mockery of democracy, “because only the ruling party in each state wins in such contest”.

    He said: “It is a mockery of democracy for state independent electoral commissions to continue organising such embarrassing roll-calls all in the name of conducting local government elections.”

    The professor of fisheries and aquaculture said popular participation in the leadership selection process, particularly at the grassroots level, is the panacea to arresting the leadership deficit currently bedeviling the nation’s development. He added the country has the potentials for tremendous growth, if human and natural resources are harnessed and utilized optimally.

    He said residents should leverage on the local government elections scheduled for December 2, 2017 in Akwa Ibom State, to help in deepening the country’s democratic process.

  • Recession: Experts advocate tax inclusion policy

    Tax practitioners have made a case for the inclusion of more taxable age into the nation’s tax net, stressing that it is one way of easing the nation out of economic recession.

    The experts made this call at a public forum. The event was at the installation of Taiwo Waheed Raji, as sixth Chairman of the Chartered Institute of Taxation of Nigeria (CITN), Abeokuta and District Society.

    Speaking separately, the chairman of the occasion, Olusola Idowu, Senior Advocate of Nigeria and Dr. Gbenga Adeoye, an authority on taxation and tax management, decried  the ‘penny wise, pound foolish’ disposition of many in leadership positions in the country who ask people of taxable age to pay taxes while not creating enabling environment for tax payment.

    The experts argued that enlarged tax net is part of measures to raise revenue base required to run the machinery of government and provide essential service to the people.

    Adeoye who was guest lecturer at the occasion, argued that no government or tax authority should expect citizens to pay taxes promptly if little or no efforts were taken to provide required infrastructure that enhances socioeconomic growth and development.

    Speaking on “Morality of Tax Evasion: The Immorality of Good Governance in Africa,” Adeoye noted that government is only quick to collect taxes, but doesn’t know how to use the money judiciously to better the well-being and social lives of citizens.

    “If those paying taxes are not enjoying what those that are collecting it enjoy, then there will be tax evaders.

    “Turning the nation’s assets to personal ones, rigging of election results and all sorts of evils perpetrated by people in power and ultimately, poor or absence of required infrastructure account for tax evasion,” he said.

    For Idowu, a “revolution has to be taken in tax administration” while the issues of taxation have lots of responsibilities for socioeconomic development of the country.

    “It is very difficult for informal sector to pay tax and reason is not farfetched, since the government seems to be irresponsible and irresponsive to people’s yearnings.

    “That is why tax agency must continue to sensitise people, and it is also important for government and revenue board to tell people every time what they generate, how they spend it and what they do with it, and also guard against multiple taxation,” he said.

  • Churches challenged on social inclusion 

    Churches must place greater emphasis on social works to change their immediate environments, the Executive Director of Centre for Leadership, Strategy and Development, Dr Otive Igbuzor, has stated.

    He spoke at the 57th birthday ceremony of the Convener of Catalyst for Global Peace and Justice Initiative (CPJ), Pastor Sam Aiyedogbon in Lagos.

    Igbuzor regretted that global wealth and poverty are increasing simultaneously, saying churches have to rise to become a force for the voiceless, defenceless and helpless.

    He noted that the system of the world increasingly provides incentives for few people to be rich while a majority wallow in penury, which is against the values of social inclusion that Jesus teaches.

    Although he noted the reformation movement in the 14th century and birth of pentecostalism in the 20th century led to the revival of the church, he lamented that the church neglected the social dimension and integrated mission of Jesus within their environments.

    Igbuzor, who is also the Presiding Pastor of Compassion of Jesus Global Mission International, cited a recent research by OXFAM indicating that in 2015, three richest people in the world have more wealth than the Gross Domestic Products (GDPs) of 48 countries.

    The same report indicated that the wealth of five richest people in Nigeria will eliminate poverty completely from the nation, he declared.

    He challenged the church to continue to speak truth to power, declaring prophetic ministry must be revived, no matter whose ox is gored.

    Chairperson of Transition Monitoring Group, Dr. Abiola Akiyode-Afolabi, challenged churches to intervene in national reorientation and value orientation.

    She noted the church wields a lot of influence on the people and their intervention in promoting the values that unite everyone together cannot be undermined.

    The chairman of the occasion and convener of CPJ, Aiyedogbon, said the idea to start the foundation was through divine inspiration.

    The General Overseer of Realm of Glory Church said: “I was writing a column in one of the newspapers from 1996 to 2009 on religion and where I addressed the challenges in the society and excesses of the pentecostal churches were part of what led to the formation of the foundation.

    “As an individual, when you see a need or a problem and you are passionate about it, you pray, speak and have engagements in your conversations with people and obviously it will make God to birth something in you and that’s how the idea came up.”

     

  • Africa to increase insurance penetration, financial inclusion

    Insurance operators and regulators at the just-concluded General Assembly of the 44th African Insurance Organisation Conference, have passed a resolution to work on six common goals to advance the US$64 billion market.

    In the resolution, the stakeholders agreed to invest in partnerships that are wider, including non-insurance actors, and deepen within the industry areas that are critical to the agenda of increasing insurance penetration and realisation of financial inclusion.

    The resolution was read by Chief Executive Officer, Uganda Insurers Association, Ms Miriam Miriam Magala. Other resolutions at the conference include adoption of a range of technologies to collect data, design and deliver insurance products, provide educational information to the public, and manage the threats of cybercrimes.

    They also agreed to invest in capacity building across the entire industry including insurance companies, regulators, associations, and institutes; pursue the financial inclusion agenda through development of insurance value chains that cut across several stakeholders/actors within and outside the traditional insurance sector.

    Others are adoption of appropriate laws and regulation that allow for innovation and minimal compliance costs; and pursuit of a diversified strategy for consumer education that embraces the various strands of building capabilities of consumers to make the right decisions with full knowledge of the benefits and obligations and access.

    They also unanimously agreed that to reach the bottom of the income pyramid, products have to be delivered effectively and at an affordable price, which calls for leveraging capacities that exist within and outside the industry.

    They observed that as is the case with the industry, which enters into upward partnerships through re-insurance to deal with big risks, insurance actors have to do downward partnerships to better manage diversified small risks at the bottom of the income pyramid.

    The conference noted that increasing penetration of the smallholder farmers requires a lot of data to design and evaluate products, as well as make decisions regarding responses to emerging risk positing that technology will help to provide products and information as well as enable premium collections and claims payments.

    A specialised pool of knowledge for research, product development and regulatory reviews is required in a centralised place that serves the entire industry, such as , training institutes/associations.

    “We have resolved to work with government, regulators, insurance and re-insurance companies, local/regional/global associations and development agencies, such as the World Bank. He urged the Insurance Initiative, International Association of Insurance Supervisors (IAIS) to invest in developing the required capacities.

    In the case of agricultural insurance, the actors include farmers, agro-dealers, financial institutions, agents and insurers, among others. All the stakeholders  must be duly prepared for their roles as they are part of the chain in a world where “insurance is not bought but sold’’.

    “Regulation should be responsive to the African context, albeit within a framework that allows for appropriate harmonisation-based on best international practices, industry involvement and regional fora.

    ‘’Regulations should reflect local needs and conditions, while the strands should essentially address business and financial management, among others,  to reduce business risks.”

  • Report: Financial inclusion ‘still a challenge in Africa’s low income communities’

    Africa’s financial environment is as competitive as other developing and high income regions in some countries, but access to finance remains a challenge, according to the Institute of Chartered Accountants in England and Wales  (ICAEW).

    In its report, Economic Insight: Africa Q3 2016, the accountancy and finance body notes that whilst some countries have excellent financial soundness access to credit remains a challenge for many Africans.

    The report undertakes a comparative review of the financial systems and regulations in Africa relative to the sub-Saharan Africa (SSA) region. It compares indicators of the financial environment (including credit metrics, risk evaluation and monetary policy), as well as regulation and supervision standards.

    The report looks at the role financing can play in economic development across the continent, and likely developments in the cost of financing in the coming years. In 2016 rankings, Rwanda performed best in SSA in terms of getting credit, followed by Zambia, Kenya, Ghana, Mauritius and Uganda. This likely stems from the fact that Rwanda has made six reforms to facilitate getting credit during the 2010-16 period, strengthening borrowers’ and lenders’ collateral laws.

    However, Regional Director, ICAEW Middle East, Africa and South Asia, Michael Armstrong, notes that “financial inclusion remains low in Africa. According to him while many of Sub-saharan Africa’s population have access to a formal banking system, in low income communities the degree to which individuals can access financial services is limited, especially when considering the limited availability of private credit.  He observed the situation could have real effects on economic growth if it remains unchanged. Governments hoping to drive prosperity should consider how they can increase access to finance.

    Quoting a report “Making Finance Work for Africa (MFW4A)”, he said  in 2015 only 23 per cent of African households had access to formal or semi-formal financial services adding that that there is evidently significant variation between countries’ levels of financial sector development.

    The report notes that South Africa and Mauritius have the highest Private Sector credit extension (PSCE))to GDP ratios on the continent, with South Africa’s figure estimated at 150 per cent in 2015 while Mauritius’ ratio is estimated at around 104 per cent.

  • Corruption: Osigwe Foundation seeks inclusion of Philosophy in school curriculum,

    The Osigwe Anyiam-Osigwe Foundation yesterday called on the Federal Government to implement the resolution of the United Nations (UN) on teaching Philosophy from the secondary school level in Nigeria as a major step in boosting anti-corruption efforts in the country.

    The foundation’s Coordinator-General, Mr Charles Anyiam-Osigwe, who made the call at a conference on corruption at the University of Ibadan yesterday, said the implementation would be a major step in institutionalising the fight against corruption.

    The conference with the theme: “The Predicament of Corruption and the Quest for Holistic Development in Africa” attracted several members of the academia within and outside Nigeria.

    Anyiam-Osigwe added that such decision would also help sustain President Muhammadu Buhari administration’s anti-corruption crusade.

    Laying the foundation for the talk shop, the foundation’s coordinator emphasised that the late Osigwe Anyiam-Osigwe’s philosophical thought on building a society free of corrupt practices is crucial to the current efforts of the current Federal Government to rid Nigeria of corruption.

    According to him, tackling corruption is only an aspect of issues that undermine Africa’s development. The foundation posited that one sure way out of the doldrums was for academic and philosophers to “provide the rudder and the leading light.”

    “We opine that there has never been development without the philosophical compass. Transcending the primitive stage of early human existence, development evolved from the contemplative insights of thinking minds in our early societies…”

    Aniyiam-Osigwe also underscored the role of the family in building individuals with the capacity to shun corruption by initiating anti-corruption values. “Here we capture the role of the family in its pristine form, nurturing and goading the child on the path of propriety or pious conduct,” he said.

    In his keynote presentation on the theme, Prof. Mogobe Ramose of the Department of Philosophy, University of South Africa, x-rayed the Anyiam-Osigwe’s philosophical thesis on corruption and called for ethical revolution of the entire African continent as a basic solution to developmental challenges.

    Earlier, while declaring the conference open, the Vice President, Prof. Yemi Osinbajo, hailed the initiative, particularly because it was in partnership with the academia, which he said, helps reinforce good government policies.

    Osinbajo, who was represented by the Secretary, Presidential Advisory Committee on Anti-Corruption,  Prof. Bolaji Owasanoye, emphasised that teaching was critical to building minds and nations.