Tag: Nigerian Newspapers

  • AfCFTA may affect agric sector, says Sterling Bank

    THE  Group Head, Agric Finance and Solid Minerals at Sterling Bank, Bukola Awosanya, has said agriculture productivity in Africa is low and a source of concern.

    According to her, the sector  accounts for 60 per cent of the continent’s labour force and 75per cent of its domestic trade.

    “The creation of a single African market with over 1.2 billion people through the Continental Free Trade Area (AfCFTA) treaty is not without possible adverse impact on the sector’s growth which calls for a pan-African agriculture summit.”

    She said to strengthen agriculture, Sterling Bank will bring together policy makers, development agencies, international financial institutions, and value chain players on the continent through Agriculture Summit Africa scheduled  September 5 and 6 in Abuja.

    The summit with: Agriculture – Your Piece of The Trillion-Dollar Economy as theme,  will seek the actualisation of the $1 trillion African agribusiness economy dream by 2030. More than 50 per cent of the world’s fertile and unused land estimated as 450 million hectares is in Africa.

    She said: “Sterling Bank has been at the forefront of Nigeria’s agricultural transformation agenda which seeks commercialisation at scale nationwide through focus on value chains where the country has comparative advantage. This market-led transformation driven by strategic partnerships is stimulating investment, creating new jobs, wealth and food security. It is imperative that this same model is adopted across the 54 countries that now make up the single African market to improve productivity, guarantee food security and ensure a future of shared prosperity for all Africans.”

    Read Also: Sterling bank is top best place to work in Africa

    She added that the international summit would foster an integrated approach to agricultural value chain transformation on the continent while also facilitating intra-African trade. It will also unveil current agricultural trends, innovations and opportunities for private and public-sector investment and participation in Africa.

    Last year, the lender brought together smallholder farmers, input suppliers, agro processing entrepreneurs, development finance agencies, policy makers and captains of industry through a technical workshop on the agriculture value chain in Abuja. The workshop which focused on co-creating a sustainable Nigerian economy through rural agricultural enterprise was chaired by former Minister of Agriculture, Chief Audu Ogbeh.  This year’s agriculture summit is a more ambitious attempt to discuss issues that will propel Africa to attain her full potential in the Agriculture sector.

    A thought leader and preferred lender by players in the local agriculture value chain, Sterling Bank has the  record of being the first commercial bank to lend under the Central Bank of Nigeria (CBN) and Nigeria Incentive-Based Risk-Sharing System for Agricultural Lending (NIRSAL) led Anchor Borrower Programme (ABP) with over 22,000 small holder farmers as beneficiaries.

     

     

     

  • Indian tender mops up Nigerian excess oil

    SPOT activity was slim on Tuesday but an Indian refiner took a greater than usual volume in its latest buy tender, helping to mop up excess Nigerian crude in the increasingly competitive Altantic Basin.

    Around five cargoes were still said to be available from the September loading programme, while the October programme is expected to emerge on August 15.

    Over 30 cargoes of Nigerian crude were still available for September loading, weighing on differentials. The has been selling slower than usual as United States (U.S.) exports of similar specification crude ramp up further. In a sign of even more competition to come, a major new U.S. pipeline has just started deliveries.

    Traders said India’s International Oil company (IOC) took around 5million barrels of West African crude with Agbami from Chevron, Agabmi and Girassol from Glencore and the remainder from Vitol.

    Traders added that the volume was unusually high for the short time period.

    IOC has issued two tenders for October 9-18 and 18-27 loading.

     

  • ‘Policy somersault affecting travel industry’

    MANAGING Director, Dees Travels, Daisy Olotu, has said policy somersault is having negative effects on the capacity of the travel industry to attain expected exponential growth.

    According to him, until government reworks existing polices to support the travel and tour industry a lot could not be achieved in the sector.

    Olotu who spoke in an interview in Lagos while opening a new head office in Dolphin Estate , Ikoyi said consolidation of travel agencies will accelerate the growth of travel logistic business.

    He said with over 30 years in the business experience has shown to him that nothing comes easy unless you put in hardworking and consistency .

    Olotu said :” Nothing good comes easy. It comes with a lot of hard work, consistency and as a tennis player; we always have our eyes on the ball. What that means is that we as a company have a goal and the goal is what we are working towards without any distraction. That has really helped us. It is not an easy task; we had to make a lot of sacrifices. We had to put everything in it; your time, resources without looking back.”

    Read Also:  Travel industry mourns Fatima Garbati

    He said his over three decades experience on the job has taught him that discipline is key in running any travel related business.

    Olotu said :” You know in airline business, the discipline must be there. If the discipline is not there, you are not going to get anywhere.”

    He said the consolidation of the biggest five travel agencies into Travel Investmeht Company Limited ( TICO) has expanded the frontiers of logistic business .

    Olotu said :” TICO is there but we discovered that this individualism of a thing is actually not allowing us to thrive. When we are ready to drop our individual names and become one, ofcourse we are going to be the biggest not only in Nigeria but in Africa. Some people in the business are actually not comfortable with that and they are working against it. If you look at the four of us that came together, we are ranked one to five in the sector, leading travel agencies in Nigeria.

    ” You can imagine what happens if four leading travel agencies to come together; you can imagine how big they will be. However, like I said, TICO is still there registered as a liability company. Anything can happen at any time. We are sleeping right now I will say that. We will wake up.”

     

     

  • Telcos accuse NITDA of usurping NCC’s powers

    TELCOS on Tuesday accused the National Information Technology Development Agency (NITDA) of trying to usurp the regulatory functions of the Nigerian Communications Commission (NCC) under the guise of issuing Frameworks and Guidelines.

    A letter addressed to the Chief Executive Officer of NCC dated July 30, a copy of which was sighted drew the attention of the telecoms regulator to this development and warned against multiplicity of regulatory agencies which would worsen the woes of the sector.

    The telcos, acting under the aegis of the Association of Licensed Telecoms Operators of Nigeria (ALTON), in the letter signed by its Chairman Gbenga Adebayo, said the regulations, frameworks and guidelines of NITDA border “somewhat on communications matters within the regulatory purview of the NCC”.

    “Specifically, we draw the Commission’s attention to the following subsidiary legislation(s) and framework(s) issued by NITDA and concerns thereto: Framework and Guidelines for Public Internet Access (PIA) 2019: The said Framework sets out rules for the provision of Public Internet Access without regard to the powers of the Commission and extant competition considerations. We note the Framework empowers NITDA to license a Public Internet Access Provider (PIAP) which technically is a provider of data services and prescribes minimum quality of service for such providers. The key concern is that NITDA appears to be assuming the role of a parallel regulator for data services.

    “Framework for Data Centre Facilities: NITDA wrote to some of our members in July 2019 stating it has commenced registration of Data Centre facilities in Nigeria and requested that they initiate the registration of their Data Centre facilities with NITDA. According to NITDA, the registration is in furtherance of Presidential Executive Orders 003 and 005 on local content development. However, a careful review of the Orders does not reveal anything specific to the operation of data centres. Additionally, the promotion of local content in the industry which is the bedrock of NITDA’s position is not the Agency’s exclusive preserve, as the Commission is also well positioned to address same for the communications industry,” ALTON wrote.

    Read Also: NCC assures on Google station project

    Another area  of concern for the group is Nigeria Data Protection Regulation 2019:

    Adebayo said: “The Nigeria Data Protection Regulation 2019 defines the rules governing the processing of data. It contains far-reaching provisions on personal data which includes communications identifiers such as IP address, IMEI number, IMSI number, SIM and Personal Identifiable Information, etc., as well as the procedure for procuring consent from customers and the transfer of data outside of Nigeria. By implication, it will appear that NITDA has assumed the role of a Data Protection Agency in Nigeria and its Regulation overrides the Commission’s existing provision on data processing in the industry. In this regard, we note NITDA recently announced in the print media that it has commenced inves tigation of alleged breach of data security of customers by telecoms companies and banks.”

    According to him, these developments bring to light the dreaded multiple regulation which has been a reoccurring challenge for the industry.

    “We recall with delight that the Commission successfully tackled the National Environmental Standards and Regulations Enforcement Agency (NESREA) in the past, when the Agency attempted to regulate the infrastructure deployment in the industry without recourse to the Commission.  It is our view that the current issue with NITDA requires urgent intervention by the Commission to safeguard the interest of market players and preserve the powers of the Commission,” he said.

    According to him, in a bid to avoid a situation where members are caught in the crossfire of multiple regulation, “we respectfully request the Commission’s guidance on how to proceed with the NITDA on the aforementioned Frameworks and Regulation. This guidance will provide the much-needed clarity for the industry moving forward”.

     

  • ‘Nigeria’s environment hostile to business’

    A marketing specialist and brand positioning professional, Wale Olajubu, has said the local business environment is hostile to the growing entrepreneur.

    He said challenges such as lack of power to limited access to funds, high cost of overhead and multiple taxations still confront the enterpreneurs.

    Olajubu who is the Editor-in-Chief of Doctors Magazine Nigeria said: “We could go on and on. It takes self-determination to succeed. The government, through the Central Bank of Nigeria (CBN) is rolling out multiple innovations almost regularly to help support startup funding in Nigeria, but coming with these fine ideas and managing the implementation is a different conversation. So you hear the CBN has approved some sort of small and medium-sized enterprises (SME) loan for a segment of the SME market, at a certain rate and a given term but to be disbursed through the commercial banks. These commercial banks will give you a different rate and a totally different term and when you refer to the CBN advert, the banker will laugh it off. We need to do more strategy implementation of CBN Ideas. Aside from these, multiple taxations can kill businesses before they even kick-off.”

    According to him,  a certain state in the country said it was looking to tax the new executive bike companies some ridiculous amounts of money per annum. “Do those bikes even make that much? That is the question we should be asking. The government needs to show more sincerity, give some stability to power and harmonise taxation,” he said.

    Read Also: Businessmen accused of N530,000 fraud

    According to him, the government needed to show commitment to power generation and distribution. We should see real commitment in the power sector, this will go a long way for the small manufacturers and farmers.

    Talking about farming, the insecurity and bad roads are two major critical issues for farmers, you are not safe on your farm and you also cannot transport your goods to the consuming market. The government needs to also commit to infrastructure and do more in implementing financial sustenance for small businesses,” he added.

    Speaking more on why SMEs should given attention, he said: “The  truth here is that the SMEs are actually the largest sector in the Nigerian economy as opposed to the big corporations. It is, therefore, important that we pay more attention to their critical needs. If these needs are not given the right attention, the repercussions could affect more than just a few companies. As a matter of fact, it could gradually slow the economy and job market of the entire country. As it stands today, the small businesses support heavily in job creation, economic progress, and innovation.”

    He said DWA Nigeria is an award-winning branding and marketing agency that specialises in creating bold strategies and brand experiences for ambitious category disruptors. “At the heart of DWA Nigeria is a team of creative and strategic professionals that share the same creative passion, philosophy and firm belief in the power of great ideas,” he said.

     

  • ‘Oil in for short term gain, long term pain’

    ANALYSTS on Monday said there are positive signs for the market in the weeks ahead as higher gasoline demand could stop oil’s recent slide. But in the longer-term, the oil market looks increasingly bleak.

    Brent crude futures rose 0.2per cent to $58.63  on Monday, and West Texas Intermediate (WTI)  rose 0.6per cent to $54.81.

    Oil may not head straight down, however. In the short-term, prices are likely to stop falling, Beveridge predicts. “With OPEC exports continuing to decline and peak driving season in full swing, we expect sizeable inventory draws in August which should be price supportive in the near term,” he wrote.

    And for the moment, short interest isn’t really a problem either. “Given the asymmetry behind the geopolitical backdrop, few market participants are willing to stomach the risk profile of outright shorting the oil market,” RBC Capital Markets analyst Michael Tran wrote. Shorts are staying away because of the risk that an international incident—like in Iran— could cause prices to spike.

    But the long-term outlook for oil bulls is bleak. Supply is expected to far outpace demand in 2020. The Organisation of Petroleum Exporting Countries (OPEC), which has already cut production to boost prices, will have to decide whether to cut production further to keep prices from falling more next year. Currently, supply is expected to grow by 2.2 million barrels per day, while demand could rise at just 1.2 million barrels, Bernstein analyst Neil Beveridge said. And that could end up being optimistic.

    “A weaker global economy could result in downside risks to this figure.This could lead to substantial inventory builds in 2020 which could push oil back to marginal cash cost,” Beveridge wrote.

     

  • MDAs to get clearance from Budget Office before recruiting

    ALL Ministries Departments and Agencies (MDAs) of government have been ordered to get clearance from the Budget office the Federation (BoF) before  employing new workerss.

    A circular from the BoF on 2020 personnel cost budget  BD/2000/EXP/S.651/) issued to all MDAs in preparation for the submission of the 2020 budget warned all MDAs that “any provision for new hires/recruitment must be supported with all necessary approvals including clearance by the BoF to recruit new employees.”

    This, the circular read “is to ensure adequate budgetary provision for the emolument of all new staff.”

    The circular also noted that consultants, contract staff, National Youth Service Corps (NYSC), Industrial Attachees, legionnaires and such like should not be included in the nominal roll as they are not permanent/pensionable staff of the Federal Government.”

    Non-executive board members, the circular pointed out “are not employed in the public service of the federation and they are not to be included in the nominal roll. Allowances and fees payable to these categories of persons are to be included in the overhead costs of each MDAs.”

    The circular which is another mechanism for checking the incidence of accommodating ghost workers on government payroll said “allowances due to Youth Corpers are provided centrally through the NYSC which is the body charged with the responsibility for paying allowances to Corpers. MDAs are not required to include allowances for Youth Corpers in their personnel cost estimates.

    Any additional allowances payable to Corpers assigned to MDAs the circular said “may only be paid from MDAs’ overhead cost provision.”

    With regard to the impending new minimum wage payout by government, the circular maintained that “the personnel cost template for all employees currently earning below N30,000 will be immediately amended and used in preparing the budget for affected grade levels.”

    However, for other grade levels, it was revealed that “the existing personnel cost will be used. An omnibus service wide provision will be made to cover the estimated cost of the consequential adjustment as and when negotiations are concluded.”

    The payroll template for all MDAs the circular went to state have been prepared “using the applicable salary structures as approved by the National Salaries, Incomes and Wages Commission (NSIWC). As a result only personnel duly employed in the public service of the federation should be on the nominal roll.”

    In addition, MDAs were warned that workers due for retirement by  December 31st, 2019 should not be included in the 2020 nominal roll, as “violation will be treated as willful introduction of ‘ghost workers’ which may attract serious sanctions.”

    It demanded that the list of all staff due for retirement must be submitted to the BoF as such list will be cross checked against the existing nominal roll currently with the BoF.

    Also captured in the circular are the non regular allowances which the Budget Office said “should only be assigned to those employees who are clearly entitled under the terms of service and circulars issued by the NSIWC.”

    A staff of the Budget Office who pleaded anonymity on the subject told The Nation that the circular was issued on time to see if the BoF can meet the September date of submitting the 2020 budget to the National Assembly so as to meet the January to December budget cycle as proposed by the legislature and also to “seriously check the sad issue of ghost workers on government payroll.”

  • Why Ikpeba Slammed NFF over U-20 World Cup Bid

    If the purpose for bidding for the FIFA under -20 Women’s World Cup by 2020, was not for the overall development of the Nigerian Female Football, hosting the tournament would definitely be a share waste of resources for the country, ex-international Victor Ikpeba has said.

    The former Nigeria international on Monday Night Football on Super Sport Live broadcast made this known stating that the Nigeria Football Federation needs to be sincere and be objective by focusing on revamping the comatose state of the female league than the glamour of hosting world youth age tournament.

    He lamented that women’s football teams in Nigeria have gone years without getting their bonuses, allowances and salaries if it is available at-all.

    The former African footballer of the year was also worried about the timing of the hosting bid stating that NFF had kept it away from the public domain until recently.

    He said, “I think am worried about the timing, and please not that there is nothing wrong to bid for any competition, be it world cup or Olympic. Nigeria is a big nation in the world of sport, but the country is riddled with avalanche of infrastructure deficit and that is very terrible.

    “I wondered why is it that the Nigeria Football Federation are just coming open with the bid for the female world cup? I understand that countries bid for major fifa tournament in not less than four years to indicate intention as part of their standard.

    “If the NFF had done this, but why is it that they are just coming open about it? I heard about it just after the Africa Nations Cup… that simply suggest a lot of things begging for questioning?

    “Besides, I was at the national stadium recently and what I saw was just not too befitting for our dear country. And I understand that it is the same dilapidated situation we have also at the Abuja national stadium, now Moshood Kasimawo Abiola stadium.

    “And also, we have also heard stories about the Falconets not being paid their bonuses, allowances and salaries for the past three years, if we don’t have the funds to offset all these bills where is the money going to come from to host such a major event?”

    “In all I want the motive for this to be to revamped the comatose state of the women’s league, players poor welfares and the poor state of sport facilities across the country.”

    Meanwhile, the President of the Nigeria Football Federation *NFF), Amamu Pinnick has said the proposed tournament would allow Nigeria to fast-track the emergence of new football stars in the country.

    He said, ‘Events like these show the other side of Nigeria to a lot of foreigners who do not see in their news cycles so it is usually a chance to tell our stories to the world, as opposed to the world telling our stories to us.

    ‘’Then the most important aspect of these competitions, in my point of view, is the emergence of new football stars. ‘’Tournaments like these are fast-track stages for the new Mercy Akide-Udoh, Desire Oparanozie and Asisat Oshoala to announce themselves to the world.’’

    Nigeria has hosted the FIFA U-20 World Cup and its U-17 equivalent in 1999 and 2009 respectively, this present bid represents the third time Nigeria is foraging into the hosting of age-grade competition at the global level.

  • Sallah and the Sultan’s charge

    THE Sultan of Sokoto, Alhaji Sa’ad Abubakar III’s take on hate speech, and how to deal with the menace, is spot on.

    As part of his Sallah message, the Sultan called on the Federal Government to hit hard at anyone guilty of spreading hate, no matter how highly placed, saying such misconduct fuels a precarious security situation.

    The government, he declared, should be “decisive in dealing with those who are bent on heating up the polity with hate speeches, no matter how highly placed they may be.”

    He also spoke on the dire security question: “This situation, which seems to preoccupy the attention of the Federal Government at the expense of other issues in the socio-political and economic spectra, appears increasingly problematic.”

    A probable de-code?  The more the authorities try to stem insecurity, the more reckless tongues among the citizenry fuel it, leveraging ethnic, faith and sundry differences, not to talk of pressing democratic rights.  Ironically, these lobby, almost with sadistic pleasure, would be the first the scream at the government’s “failure” to  sort out the problem.

    Then, the monarch’s  Sallah plea: “Today is a day of sacrifice.  We must seek divine intervention in all our activities … We have seen a lot of commitments and dedication to the fight against insecurity.  With our support and fervent prayers, we will surely succeed” — quite!

    In other words, security is collective business.  Unless and until the government and the governed meet at some points on this crucial matter, both could be running at cross purposes, with devastating consequences.

    As for seeking divine intervention, it could well go back to the tongue.

    It is the same mouth that you use to pray that you use to curse; the same reasoned mouth that calls for moderation and restraint harbours the lunatic tongue that glories in tearing down everything; the same mouth that shows empathy and constant encouragement, along the process of solving a problem, is the one that, without thinking, hollers, barks, roars and growls: the government has done nothing!

    True, all of these are allowed under the democratic ethos.  Still, you must secure a country before luxuriating in its democracy; and its guaranteed freedom and liberty.

    The Sultan’s charge could not have come at a better time.

    Those who have ears, let them hear.

     

  • EBONY, and Ebonygate revisited

    WITH the recent sale by public auction of its archives of more than four million black-and-white photographs, some of them prize-winning and some never published before, the monthly lifestyle magazine EBONY which defined and captured the black experience in America like no other for two generations has finally gone out of business.

    Priced at $46 million, the archives were sold for $30 million.  The proceeds will be used to offset part of the debts of the Johnson Publishing Company, owners of the magazine.  The company filed for bankruptcy liquidation, some three years ago, unable to arrange financing or a sale.

    Fears were rife that EBONY’s iconic pictures would fall into the hands of a private-equity firm that may choose to dispose of them as it pleases.  In the event, they were purchased by a consortium of four leading private foundations, which will donate them to the National Museum of African American History and Culture at the Smithsonian Institution and the Getty Research Institute.

    This arrangement guarantees the archives will be preserved for posterity and made accessible to the public

    EBONY was launched in 1945, in Chicago, by John H. Johnson, a visionary entrepreneur concerned “to show the Negroes (as African Americans were then called) but also white people that Negroes also got married, held beauty contests, gave parties, ran successful businesses, and did all the other normal things of life.”

    Johnson’s daughter, who succeeded him as publisher, said the mission was to make EBONY the “curator of the African-American experience, past, present, and future.”  It fulfilled the first two parts of its mission admirably. But its future now lies behind it, sadly, after a run of 71 years.

    Within a few years of its debut, EBONY became a habit.  There was hardly any black home in the United States where you would not find a copy.  It was read and passed along, to be read and passed along until every member of the household had savoured its contents.  Those who could not read were rewarded with its white-and-black pictures that captured arrestingly all aspects of black culture, from the ghetto to the executive suite, and the Boardroom, and ultimately to the Presidency.

    It was a lifestyle magazine with a difference.  It depicted African American entertainers, athletes and movie actors and performing artistes all right.  But it also showcased black scientists, lawyers, diplomats, legislators, community leaders, inventors, engineers, astronauts, corporate executives, commanding officers in the armed services and, generally, achievers in every sphere of American life.

    Its tone was optimistic, upbeat.  But you could never accuse EBONY of puffery, for the stories were substantive, well researched, and very well written. The photo-essay it published from time to time was a model of story conception and execution.

    Its stablemate Jet, published in a much smaller format, debuted in 1951 as “the weekly Negro news magazine.”  Together, EBONY and Jet captured the essence of black life in America like no other journals. Their challenge was to define or redefine for America black Americans, who were for the most part presented with mutilated images of themselves by the dominant media.

    The field was not entirely bereft of black journals.  There were, for example, the Chicago Defender, the Baltimore Afro-American and Amsterdam News based in Harlem, New York.  These were important voices and vehicles in their communities, but their circulation and impact were modest.

    At the launch of EBONY, many newspapers in the American South, did not publish pictures of blacks   as a matter of policy.  Large sections of the print media did not report the stirrings that culminated in the civil rights movement, the sit-ins and protests that challenged Jim Crow laws and caused them to be abolished.  It was only in the late 1990s that a newspaper in Jackson, Miss, sought to atone for this denial by omission and published supplements chronicling important news stories of the civil rights it had not reported.

    Television was just as complicit.

    EBONY changed all that.  Black people, many of them for the first time, could see black people like themselves as leading achievers and key public figures, in positions they did not know black people could hold and performing roles they never thought black people could play; they saw Africans in their colourful native attires on the world stage as kings and presidents and prime ministers and statesmen.

    It fostered black pride. It promoted Black role models and fired black aspirations.  Its yearly issue profiling the 100 Most Influential Blacks in America was a parade of excellent role models for aspiring African Americans. And if you wanted to reach the attentive black audience EBONY was the medium that gave you the best value for your advertisement budget.

    The coming of the Internet opened the era of free content.  Television generally, and cable television in particular, offered round-the-clock programming that gravely undermined newspaper and magazine readership.  Advertisers shifted to digital platforms and television even as newspaper production costs soared, forcing such venerable publications like TIME and NEWSWEEK to abandon the business model that had served them so profitably for decades.

    EBONY’s fortunes contracted in this altered environment. Debts mounted.  Operations became unsustainable.  Unable to arrange financing or find a buyer, it filed for bankruptcy liquidation three years ago.  The sale last month of its photography assets closed what will go down as one of the most eventful chapters in the history of American journalism and black culture.

    Unfortunately, generations of Nigerians will probably remember EBONY in an entirely different context

    Despite its iconic status in the African American experience, the magazine had no market presence in Nigeria or anywhere outside the United States.  Many Nigerians were acquainted with it only by its reputation.  Some had read pass-along copies at infrequent intervals, courtesy of Nigerians living in or returning from the United States.   You certainly could not pick up a copy at the newsstand as you could TIME and Newsweek.

    Still, in 1990, EBONY magazine figured in Nigerian politics the way few foreign journals had done before or since. In the process, it bequeathed the term Ebonygate to the nation’s vocabulary of sleaze.

    Military president Ibrahim Babangida’s benighted Structural Adjustment Programme (SAP) had sapped the economy, turning basic needs into luxuries and eviscerating the middle class. Hunger stalked the countryside, and many Nigerians were reduced to rummaging through dustbins for food scraps.

    Anti-SAP demonstrations, which turned violent in many cities, broke out across the country, fuelled by rumours that Babangida had stashed away some $3 billion from the national treasury in foreign banks, and that he and his wife owned, among other properties, a diamond watch factory in France.

    The organizers cited EBONY magazine as their source.

    Conspicuous among the teeming protesters in Lagos was the respected educator and founder of Mayflower School, Ikenne, Dr Tai Solarin, in his trademark floppy hat, khaki shirt and shorts.  In an interview he had made some reference to Babangida’s rumoured offshore wealth – a key grievance of the demonstrators.

    The claim that the story came out of EBONY was implausible through and through.   It was not EBONY’s fare.  But no matter.

    State security officials seized Solarin and subjected him to a brutal inquisition on live national television, conducted by Col. Kunle Togun, who had been living under a cloud of suspicion of complicity in the 1985 parcel-bomb murder of the crusading journalist, Dele Giwa

    What was Solarin’s source?  Did he verify it?  As an educator and an influential citizen, was he unaware that he had an obligation to verify the information so as not to lend his authority to subversive rumours?

    Official desperation did not end there.  The authorities dispatched a team to Chicago to urge EBONY publisher Johnson to state categorically, for the public record, that at no time had the magazine carried the story attributed to it. Johnson refused the strange demand.

    And to this day in Nigeria, Ebonygate carries the resonance of rumour, gossip, or falsehood, a slur on the reputation of the foremost journal of the African American experience that was.