Tag: revolutions

  • Why revolutions still matter

    Why revolutions still matter

    Comrade Lenin and the longest goodbye

    We may not all be Soviets these days, but there was a time we came pretty close. The collapse of what is known as the Second World, otherwise celebrated as actually existing socialist states, has led to a strange and unexciting world. It has surely given birth to the cretinization of American politics, a strange overconfidence and lapse of concentration which breeds exemplary political mediocrity. If the soviet bear were still alive, the west would have given more thought to the quality of its current leadership.

    The collapse of actually existing socialist states has ushered in a brave new world of minimal and miniaturist leaders all over the globe. They are the luckless heirs and epigones of an aborted attempt to remake the world and to reset the clock of human progress towards genuine self-actualization. Millions, particularly in Africa, Asia and Latin America, are still trapped in the abyss of confusion, utter wretchedness, sub-human poverty and alienation.

    Ever since its triumph over the feudal mode of production, modern capitalism has infected every corner of the globe with its viral imperative: the internationalization of slavery, globalism, the advent of unviable nation-states in Africa, the phenomenon of the African strongman as a bulwark against communist threat, the rise of Islamic fundamentalism, end of ideology zealots and hordes of refugees threatening to overwhelm the capitalist cartography of the modern world.

    One hundred years ago, the greatest challenge to the capitalist global order materialized in the Russian tundra. It has been a hundred years that shook the world to its very foundation. In the current climate of ennui and sheer boredom, it is possible to forget the great historical drama and the agonized trauma of the not too distant past when two violently contending visions of human society squared up to each other leading to bloodshed and global turmoil. But history will not forget us simply because we forget it.

    The centenary of the Bolshevik uprising passed unnoticed in many western and non-western quarters, particularly and most bizarrely—but understandably—in Russia itself. It did not rate as much as a commemorative stamp from the modern heirs of Lenin. Vladimir Putin, Lenin spy-successor, had let it be known that as far as he was concerned, the end of the USSR was “the greatest geopolitical catastrophe of the twentieth century”.

    In other words, the de-nationalization and conscription of other autonomous nations under the rubric of a Slavic master-nationality is far more important than any workers uprising. The modern heir of the Russian revolutionary troika knows that it is not politic to mention ancient bones when an old woman is passing. With Russian workers chafing and restive, a Putin acolyte famously quipped: “What is there to celebrate?” Indeed what is there to celebrate in contemporary Russia about an uprising against autocratic rule and injustice? The sublime irony cannot be lost.

    Putin does not leave anyone in doubt these days that his main driving ideology is a hearty pan-Slavic supremacist order which brooks no contradiction. He had earlier cancelled the old November 7th holiday and substituted it with a November 4th holiday which marks the occasion of a historic Russian uprising against their Polish tormentors in 1614. If this can be happening in the land of the Bolshevik Revolution itself, it is not expected of hired mourners to weep more than the bereaved.

    Yet the Russian Revolution remains the greatest uprising in the history of humanity, far more comprehensive in scale, scope and ambition than the French and American Revolutions put together. Whereas the earlier uprisings aimed only at toppling the dominant order, the Russian Revolution, according to an authority, “set out to do nothing less than destroy an entire social system and replace it with a society superior to anything that had hitherto existed in human history”.

    It was some gargantuan ambition formulated by men with extraordinary focus and energy to match. A hundred years after, it still reads like the stuff of outlandish fiction; a cameo from an epic still motion film. It was a saga of extraordinary heroism and exceptional human courage and bravery. When human beings are fired by this kind of superhuman idealism and towering distaste for injustice, anything is possible. Without having ever been trained as a soldier, Leon Trotsky became an outstanding general of the Red Army.

    But despite the superhuman heroism, the unimaginable sufferings on all sides, the epic sacrifices and the Homeric bloodletting, everything seems to have gone up in smoke, a damp squib, or so it seems. The informed opinion is that old Russia should have been the last place that this kind of revolution should have taken place in the first instance. It was a classic instance of voluntarism, that is, heroic instigation of circumstances rather than the ripeness and readiness of objective conditions.

    Famously dubbed a “revolution against capital”, the Russian Revolution occurred against the classical conditions of a perfect revolutionary situation as enunciated by Karl Marx. Nineteenth century Russia was a primitive and backward society with a veneer of western modernity all held precariously together by Tsarist cruelty and autocratic repression. It is instructive that serfdom was only abandoned in 1861.

    Perpetually aping developments in the west, Russia began a rapid headlong industrialization which created hordes of workers without the minimal conditions for their welfare. This was to be the ultimate nemesis of the Tsarist Empire. The country was teeming with the ultimate unwashed: hungry semi-serfs, wretched peasants, dehumanized workers and demoralized soldiers reeling from serial defeats inflicted on the crumbling Tsarist Imperial army. They eventually linked up with the radical Bolshevik leadership and were to be the foot soldiers in the assault on principal state institutions. The rest is history.

    But despite revolution, the old objective conditions subsisted. While the strength of the state resided in its capacity for coercion and repressive ferocity, the countervailing institutions of civil society remained weak and stunted. In the absence of these moderating and modulating institutions, the road led inexorably to a new type of autocracy more devastating and ferocious than the old because it was freighted with high-minded and messianic self-righteousness.

    In the event, the new Russia succumbed to a perfect post-revolution storm, and it was a terrible storm indeed. It is argued that had Lenin survived his horrific injuries, the situation could have been different. On his deathbed, it was known that Lenin denounced Stalin for his bovine rudeness and incivility, urging his colleagues to ease him out of power. But it was too late. Stalin would have laughed this to scorn, having gathered the levers of power irreversibly into his hands.

    Rather than being a strange affliction, the virus of Stalinist autocracy was already present in Leninist dictatorship of the mythical proletariat. The very condition of political and economic underdevelopment which made revolution possible in Russia also made the transition to a politically freer and more economically equitable society impossible. As it was famously noted, the historical remit of Stalin was to drive barbarism out of Russia through sheer barbarity.

    But the grand historical conundrum remains with humanity. The flame of liberation and revolution lit in Russia quickly caught on in other parts of the globe, particularly in feudal and backward China, Vietnam, Cambodia, Laos, Cuba and many decolonising movements in Africa and Latin America which quickly adopted its trope and ideology as the leitmotif of the struggle against internal and external colonization. Within fifty years, one third of the entire human society found itself living under regimes that owed their historic motivation and inspiration to the Russian Revolution.

    Yet in virtually all of these societies with the possible exception of China which boasts of an ancient civilization with a sublime contempt for western norms, the post-liberation condition is uniformly depressing: atrophied and sclerotic party dictatorships lording it over a cowered and pauperized populace. Like Zimbabwe this past week, like Angola earlier and like Romania much earlier in 1989, massive discontent of the masses has seen off aging autocrats presiding over devastated fiefdoms. Revolutions as enunciated by western theology have become a grand historical cul de sac.

    Despite the horrors and the millennial sufferings, the heroism and self-sacrifice of the Russian revolutionists remain unrivalled in modern history. The lesson to take away from this is that no politician has been born who will ban revolutions, just as there will never be a philosopher however gifted who can theorize their trajectory. As long as injustice, persecution and oppression remain part of the human condition, the urge to revolt will also remain a primal imperative of the human psyche no matter where it leads or how it pans out.

    The revolutions of the future will borrow their tropes from the great human uprising of the past dating back to Spartacus, the iconic Roman slave-leader, who led a revolt of his fellow slaves against the Roman Empire. But in all likelihood, they will owe more to mental duels and intellectual battles rather than the physical battering down of Winter Palaces. We may not have heard the last word from the Finland Station.

  • Revolutions, history and leadership

    Anniversaries are occasions  for reminiscences on the past, good  or bad. That  really is the stuff of history.This  first  week  of November 2017 therefore,  in the light of events and anniversaries that fall  due, in my view,  is a  bounteous  harvest of history,  both  ancient  and modern. First,  the Russian revolution of 1917  that  created the world’s first  Marxist  state was  a hundred years  old this week.  But   there  was  not much to celebrate  in  Putin’s  Russia,  even  though  the world  had learned  a lot   in the  100  years, since  the death   of  Lenin, the leader  of that revolution. In  the new  world  since that Marxist  Revolution, a  church  called – The  Church on the Blood-  has been  built  in  Russia  on the spot  where  the family of the Russian Czar Nicholas 11  was  buried after that royal  family  was butchered by the Bolsheviks and their  bodies mutilated  100  years  ago.  Those who  built  that church have  called  the Bolshevik  Revolution a foreign  interference in Russian  affairs  as the Revolutionaries  were brought in from Germany  which   was  at war  with  the Russian  Empire then. Such  people   are  obviously   sniggering at those in the US now  talking of  Russian hacking  of  US  2016  presidential  elections which, exactly    one year   ago  on November  7 2017,  brought  in the  volatile,  bombastic and very  politically   incorrect    presidency   of the highly  irrepressive  Donald  Trump. Again  I say,  this    is the stuff  of history.

    Yet,   not all revolutions,  now   and   past    are  bloody  and  turbulent  as the Russian  Revolution  of 1917.  In  Saudi  Arabia  a  royal  revolution  is going on  now  in the fight a against  corruption  led  by 31  year  old  Crown  Prince Mohammed  bin  Salman   son  of incumbent King  Salman. Over 210  princes and  individuals  have  been incarcerated at a posh  hotel   in  Saudi  Arabia  with  the Attorney  General  claiming they have embezzled over    $100bn.  Given  the  notorious  fact  that those  who  steal  our  public funds  here  in  Nigeria  buy properties in Doha , Dubai  in  the Middle  East, this  means that there is no safe  haven for  long,  for those who think  that  stolen  money  is safe in the Middle  East,  given  the Saudi  Crown  Prince  assault  on his uncles and  kinsmen  in the new  revolutionary  battle,  amongst  the ruling  House  and class  in  Saudi  Arabia, to put its royal  house  in order. .

     

    Similarly  and  especially  in the UK, another  revolution of  the sexes  is going  on  which  I call   a War  of the sexes.   It   is one   that   UK  PM  Theresa  May  has dubbed the fight for ‘respect‘ by the  female    sex  in the now  much  amplified   and     highly    westernized  fight against  sexual  harassment.  I  call  it  Aikin  Mata  in  Hausa  which  means – Women  At  Arms,  the title  of a  drama  play  that I   took  part in at  the  Great  Ife,   years  ago. In   the play  Aikin  Mata, the  women  folk  in the community  sex – starved their  husbands  to  make a point and the husbands  found that uncomfortable  in terms of  fulfilling their  roles  as husbands  and played   ball   to  stop  the sexual  harassment  of the ladies. Now  in the US  and  the western world,  the  ball  is now in the court  of the ladies who  have gone hysterical  and   very    historical  in exposing   men   who  mad passes at them in their  work  places  in the past and the governments in that  part of the world are listening and  are punishing those randy  men  involved in such  episodes. Indeed  a politician in  Ireland  on  hearing some whiff  of his suggested  involvement in  the media,  committed suicide rather than face the opprobrium of sexual  harassment  and it was left  to  his  bereaved family  to lament post humously    that  he  was  not  given a chance  to defend  himself  as required  by law  or  the simplest  form of natural  justice.  To  me, sexual  equality  is  the fight  to make women  have the  same rights as men but  that  doesn’t mean  women  should  not be attracted to  men and vice versa.  In  calling it respect  Theresa  May  has opened  a new frontier of sexual  interaction and  relationship which  puts men  on the defensive and that too is a form  of sexual  harassment  or  discrimination.  Could she have said it because she is a woman?  Your  guess  is as good  as  mine and  your  answer  is  probably  dependent  on your  sex. Which  shows  clearly   how absurd  and disruptive this  so called   war  of ‘respect ‘  for ladies  have become.

    Let  us now go  back  to the  Russian  Revolution of  1917, hundred  years ago and  the effect of that on contemporary  and comparative  world politics. To  lead  us in this direction is BBC’s  Steve Rosenberg’s  historical  and educative analysis  titled ‘In  the shadow  of  Red  October ‘   on   the internet,  in which  he revisited 4  Russian  cities  namely  St  Petersburg, Moscow, Yekaterinburg  and  Khabarovsk   to  see  the effect  of  the Russian  Revolution. Rosenberg’s  analysis  is a master piece  in putting  historical  events in perspective and context  and making the lessons of history clear  and lucid.  I love it,  even as I confess   to  being emotional   and   obsessed  with the facts and  nitty  grrity   of    historical  exposures  and   hard  facts on play  in it  .Rosenberg  pointed  out that the Great  October Socialist  Revolution  as it became known – actually  took place on 7 November. But  in  1917 Russia was  using  a different calendar from  the West according to which the date was  October 25.

    In   present day Russia, it surfaced  that  the present  Russian  government has  tried  to distance itself  from  a Russian event  that was bloody  and violent  in bringing down  the Romanov dynasty that had ruled Russia for five centuries  and died when Czar Nicholas’  brother refused  the request of the Bolsheviks  to succeed  him. According to Bishop   Yevgeny  of the  Urais, – ‘ the Czar’s   killers  saw themselves   as gods.  This  sickness  of the mind became the fever   of the 20th  century‘.

     

    • Continued online
  • A tale of three revolutions

    A tale of three revolutions

    There is no doubt that opponents of the on-going fierce anti-corruption stance and actions of the emergent President Muhammadu Buhari administration would readily commend for his perusal and contemplation the humorous but anonymous poem quoted above. Why must PMB, they have privately and publicly asked, be expending so much time, energy and resources towards the recovery of looted funds, that constitute no more than a microscopic  ‘horseshoe nail’, in a vastly resource-endowed country like ours? As far as these critics are concerned, the PMB anti-corruption campaign is sheer rhetoric to divert attention from the All Progressives Congress (APC)’s alleged’s unpreparedness for serious governance. They call on PMB to focus on governance and his promised development agenda, rather than the current seeming hounding of former Peoples Democratic Party (PDP) public office holders of the former President Goodluck Jonathan administration, by various anti-corruption agencies.

    There is, of course a subtle and mischievous sleight of hand in this argument. It assumes that fighting the anti-corruption war and pursuing a credible and productive development agenda are mutually exclusive objectives. First of all, it was because of the sheer brigandage, impunity and outright venality particularly of the Jonathan years that we have found ourselves in the current ditch of unprecedented fiscal distress. For a PMB administration that inherited a near insolvent country with governments at all levels finding it difficult to meeting their obligations, including workers’ salaries, it would be grossly irresponsible to allow a few Nigerians to keep the billions and trillions of scarce resources stolen from the public purse, all in the name of some nebulous and meaningless peace agenda. Furthermore, the APC presented an expansive progressive manifest to the electorate. It needs all the funds it can get, especially the stolen funds, to meaningfully pursue its objectives.

    Ironically, those who argue that the PMB administration is expending too much energy on looking into the financial malfeasance that assumed a contagious dimension during the Jonathan era, are also the ones who canvass that PMB’ anti-graft war be extended to the beginning of this dispensation in 1999. It is obvious that this is simply a ploy to cripple the anti-corruption war and render it useless and meaningless. For one, the phenomenal cost of such an exercise would have dysfunctional economic implications. Again, the pressure on our already overburdened judiciary would be practicably unbearable. In any case, the pro-Jonathan critics who canvass this position do not bother to explain why the anti-graft agencies practically went to sleep in the Jonathan years. The truth of the matter is that no administration will ever be humanly possible to completely wipe out corruption. But the menace can be drastically reduced from its present epidemic level, once we have administrations that allow the anti-corruption and other anti-crime agencies to function with a relative degree of autonomy from the other arms of government particularly the executive.

    In many ways Buhari is an ideological and political enigma. He cannot in any way be described as a revolutionary. His past and present political exertions were geared towards strengthening the system rather than overthrow it as a revolutionary would aim at. It is obviously his historic mission to help transform the Nigerian socio-economic and institutional system; to spearhead change as a way of sanitising and stabilising it. Buhari has clearly not come to overthrow the system but to save it through stabilising change. Is this a case of the ideological conservative as involuntary advocate of radical change? Even though his political steps are still tentative, through his sheer body language, there is palpable change in the air. The kind of sheer impunity witnessed in the pre-Buhari era has seemingly dissolved into thin air. Organisations and institutions of state are run more transparently and responsibly. Revenue generating agencies are duly remitting due amounts to the Federation Account, unlike the recent past. We have been spared the insulting spectacles of imperial First Ladyism gone rampant. Federal Government accounts have been streamlined and harmonised for greater accountability and monitoring.

    Like PMB, Governor Akin Ambode is an unlikely revolutionary who within a short time is bringing about radical changes in Lagos State-building on the solid work of his illustrious predecessors. Just as PMB is a product of the military as a professional soldier, Governor Ambode, a Charted Accountant is one of the most experienced civil servants in the country rising to the apex of his profession. Interestingly, both the military institution and the civil service have similar professional attributes of discipline, respect for authority, institutional rigidity, and hierarchical bureaucratic among others. Both men are thus unlikely revolutionaries who, nevertheless, are spearheading far reaching changes in their spheres of influence. In Lagos the Akin Ambode hurricane is gaining momentum by the day. He has merged ministries to reflect new areas of emphasis as well as reduce duplication and enhance efficiency.  He has shaken up the civil service top leadership to renew organisational efficacy. He has been proactive in responding to emergencies in various parts of the state. Near revolutionary reforms are being implemented across diverse Ministries, Departments and Agencies, which this writer gathered are already having salutary fiscal and other effects in the state of Excellence.

    Perhaps the most restless and excitable of the public officers elected on April 12, is the Kaduna State governor Mallam Nasir El- Rufai who remains as controversial as he was when he was Minister of the Federal Capital Territory. Yes, he has taken some commendable steps as governor. For instance, El -Rufai has employed one or two non-Kaduna State indigenes as his political aides. Again, he has been applauded for announcing that all Local Government funds will be fully released to them. But the governor must first of all take the trouble to ascertain that the grassroots units of government have the executive capacity to maximally and efficiently utilise the level of their current funding.

    Just as he did as Minister when he forced okada riders off the streets and massively undertook a massive demolition of structures partly to create room for urban renewal in the Federal Capital Territory, Nasir El- Rufai is at war against beggars in Kaduna State. He wants them off the streets. El-Rufai has certainly not learnt any meaningful lessons from his experience at the FCT. He is still the same old El-Rufai enamoured of neo-liberal socio-economic policies utterly indifferent to the plight of the vulnerable and poor in society. This is the verdict of renowned sociologist, Professor Patrick Wilmot, on the Kaduna State governor in his book ‘Nigeria: The Nightmare Scenario’. His words: “El-Rufai the minister of the capital territory was at ABU when I lectured there but certainly never listened to what I had to say. His and previous governments failed to provide poor citizens with public transport forcing them to risk their lives and health in Danfos and Okadas. Yet, without building trains, subways or trams he threatens to get rid of Okadas, provoking the people further to rebellion, and feeding inflation by raising the price of all forms of transport”.

  • Justice, interventions and revolutions

    Justice, interventions and revolutions

    As the French Sahel Assault is on course in Mali, Nigeria, at a donors conference in Addis Ababa, Ethiopia told the audience it had spent $34m on deployment of Nigerian troops in Mali – while in the same newspaper that carried the report on the expenditure, there was another report that two weeks after the deployment of Nigerian troops to Mali , the troops are yet to leave Nigeria because of lack of funds. In the Middle East, Israeli planes were reported to have bombed a defence research facility in Syria, a fact that the Russians decried, while warning it could escalate the Syrian war. This is because Iran, an implacable enemy of Israel, had declared earlier that any attack on the Assad regime would be treated as an attack on Iran.

    In Egypt, youths and demonstrators waged violent demonstrations in Egyptian cities against an Islamist president they say had hijacked the revolution that overthrew the regime of Housni Mubarak two years ago – and the Egyptian army, standing on the sidelines ominously warned that the state of Egypt is under threat. Again in Nigeria the judgement in the case of a former pensions director who who stole 27 bn naira but was sentenced to just two years and fined 750,000 naira by a court caused such public outrage that the accused has been re arraigned while some groups have called for the probe of the judge that gave the initial verdict.

    In all these issues – which I admit albeit grudgingly, are enough for today- the common bonds are the quest for justice, order, security and stability. It is obvious that in some cases the socio political institutions and apparatus for achieving set goals and objectives of society have failed to live up to their billings and ad hoc or impromptu alternatives have had to come in, occasionally violently, to create some form of social, political or even regulatory equilibrium or balance.

    In some instances the law has been made an ass while in other cases or instances, regulatory or supervisory oversight has just turned a blind eye. Which really shows that interventions, if they are to be successful have to be decisive, fast and smooth like the French Intervention in Mali – he Sahel Assault – or as expected of regulators’ intervention in times of financial crisis in banks or financial institutions, to avoid panic or bank runs.

    Starting with the AU Donors Conference, President Goodluck Jonathan was reported to have told the audience at the 20th Ordinary Session of the African Union in Addis Ababa that ‘Nigeria has commenced the deployment of 900 combat soldiers and 300 Airforce personnel as part of AFISMA.

    Nigeria has so far provided about $32m for the immediate deployment and logistic support for the troops.’ Nigeria he also reportedly said would give additional $5m for helping the Malian defence forces as part of a Security Sector Reform Intervention Fund. Undoubtedly Nigeria’s intention on Mali is laudable and is good for regional stability. Nigeria is also living up to its billing as a force to be reckoned with in the West African sub region. But something seems to be wrong in the way and forum that the expenditure has been announced and the situation in Nigeria itself.

    In the report mentioned earlier which said Ni gerian soldiers are stranded at home it was also written that ‘the deployment was hurriedly done because of the deployment of French troops in Mali and the need to ensure that Nigeria does not lose face as the big brother in the sub region. Obviously the Nigerian authorities need to reconcile the Presidents lofty and ready statements of commitment in Addis Ababa with the disturbing news at home on the deployment of our troops in Mali.

    The report also went on to state that Nigeria would spend about 10bn naira on the Mali intervention noting that if half that had been spent at home Boko Haram would have been sent packing long ago. That really is making fun of Nigeria’s regional diplomacy. The consolation, if any, in that however may be found in the fact that Boko Haram was reported to have issued a statement that after a meeting with the Borno State government it has started a ceasefire. I expected the Nigerian authorities to cash in on that and say the thrust of its intervention in Mali has made Boko Haram to kow tow and see reason just as the Islamists in Mali melted into the Sahara or thin air at the approach of French troops.

    But a security spokesman in Lagos was reported again to have said that we will have to wait for a month at least to ascertain if Boko Haram would keep its ceasefire or not. That really creates a huge balancing problem for the Nigerian government not only in terms of expenditure announced in Abuja and its accounting in terms of Boko Haram and stranded troops in Nigeria, but more importantly on the international credibility of our regional diplomacy on the Mali Intervention.

    Many reasons have been proffered as the motive for Israel’s aerial intervention in Syria’s bloody civil war and the ever taciturn Israelis have not helped matters by keeping mum. But the more credible sources say the Israelis have acted to prevent arms and chemical wapons being made at the Syrian facility from getting into the wrong hands namely that of Hizbollah – the Party of God – based in Lebanon and a staunch supporter of the Assad regime just like the Russians. But the Russians and Israeli bring to these unfolding Middle East saga different types of reputation on the way and manner they have entered the fray. The Israelis are renowned for swift and efficient intervention while the Russians have a policy of docility towards their allies in the area. Two examples will suffice.

    During the Israeli premiership of Menachem Begin, the idol of the present PM of Israel Benjamin Netanyahu, the Israelis put out the nuclear facility of former Iraqi President Saddam Hussein just like they did this week with the Syrian facility. The assignment was top secret in Israel such that Begin did not tell members of his cabinet he had summoned at midnight until the Israeli jets had hit their targets in Iraq and were on their way back to Israel. Such was the speed and efficiency of the assignment that even Saddam did not know what had happened till some days later.

    In the case of the Russians they promised support for Muammar Gaddafi during the presidency of Ronald Reagan when Gaddafi promised to stop US military exercise in the Mediterranean over a dispute on international waters. The Russians had their naval fleet in the Mediterranean promising support for Gaddafi like they are doing now for Assad. However on the night US fighter jets came calling and killed Gaddafi’s baby even in his underground bunker in Tripoli, the Russian navy had its full lights on in the Mediterranean so as to avoid any mistaken identity problems with the blazing US jets overhead. So much for Russian support for Gaddafi and even now for Assad – as the Russians are making plans to evacuate Russians from Syria in anticipation of retaliation for Russian prolongation of the war while blocking any outside military intervention in the Syrian crisis.

    Egypt’s situation is a sorry democratic dilemma in which there is a political situation begging for military intervention and yet the military must watch its steps in making such a move, if ever. The military boss recently appointed by President Mohammed Morsi has already issued a veiled threat but it remains to be seen how and when he will intervene . This is because the Egyptian street revolution of 2011 was supposed to have put paid to military rule or diarchy in Egypt. The army played its role in the revolution and bowed to public opinion. It supported and supervised the trial of its icon and leader -Housni Mubarak and his two sons all three of who are still in prison for corruption in Egypt while a popularly elected president was sworn in just last year.

    Now President Morsi, after demonstrators have been shot over his ploy to have even more powers than Mubarak, is as unpopular as the leader ousted by the popular uprising two years ago. Is Egypt in the throes of a second revolution so soon after the first, just two years ago? Is the Egyptian army bold or stupid enough to intervene and prevent a descent to chaos and instability inevitable if the army stands by and does nothing? Really there are no clear answers to the political situation or equations in the land of the Pharaohs as the inputs are changing so fast that it is even dangerous to hazard a guess on what defines stability or its antithesis and when or how military intervention can be the solution.

    Lastly, let us look at the case of pension theft of a huge sum of 27bn naira from a regulatory perspective that calls for the intervention of the Central Bank of Nigeria in the matter. Surely the culprit and his accomplices must have bank accounts and must have laundered the huge sums of money in various projects or shell companies. The CBN should intervene by sending its examiners to the banks in which these culprits are customers by using its Know Your Customer –KYC- policy and CBN limits on Money Laundering Declarations.

    Surely some bank managers operated these accounts which must have brought juicy bank earnings at the expense of Police Pensioners. It is the duty of the CBN to bring such banks and bankers to book. If they had followed the KYC rules from the CBN and made requisite money laundering returns these culprits would have been found out and arrested long before they could wreak such huge financial damage. The ball in terms of intervention rests with the CBN more than our courts which can only decide on evidence brought forward from the banks . We hope the CBN lives up to its responsibilities.