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How Ex-Gov Okowa embezzled N1.760trn, Edwin Clark writes EFCC, says 13% DESOPADEC derivation funds misappropriated

Clark said he had written to the Economic and Financial Crimes Commission (EFCC) about Okowa’s, misappropriating over N1 trillion of the 13 per cent oil derivation fund for the state.

Clark, who spoke in an interview on Wednesday, said the former governor “autocratically mismanaged the funds”.

He said the funds embezzled by the ex-governor are the federation account to oil-producing communities through state governments as contained in section 162 (2) of Nigeria’s 1999 Constitution (as amended).

The Niger Delta leader said he and others had been blaming the federal government for the lack of development in the South-South without knowing that the governors in the region have been “stealing the money” for the region’s development.

Last year, Garba Shehu, the spokesperson to then President Muhammadu Buhari, released details of the oil derivation funds released to nine oil-producing states, with Delta State said to have received the highest allocation totalling N296.63 billion.

Clark said the revelations prompted him to confront Okowa, through a letter, to account for the funds.

“He (Okowa) said he had been spending the money. The answer they gave me was that they spent N5 billion on paying pensioners. How does that come under 13 per cent?” He said.

“And they also spent the money building a university in Okowa’s village. I mentioned in the letter [to the EFCC] that Okowa has 13 companies. I told him he put the 13 percent (derivation funds) into these 13 companies and let him deny it,” he alleged.

He said he was dissatisfied with the former governor’s response and had to hire a lawyer who obtained, from the accountant general’s office, the certified copy of all the derivation funds paid to the state from 2007 to December 2022.

“The one paid to Delta State came to N1.767 trillion,” he said.

Clark said the law establishing the Delta State Oil Producing Areas Development Commission (DESOPADEC) noted that 50 per cent of the 13 per cent should be given to the DESOPADEC. However, the governor held the whole funds.

DESOPADEC is an interventionist agency established to manage a 13 per cent oil derivation fund to drive infrastructural development of the oil-producing communities in the state.

He added that Okowa sidelined the Delta State Oil Producing Areas Development Commission (DESOPADEC).

“The one paid to Delta state came to N1.767 trillion. Instead of paying 50 percent (of the N1.760 trillion) to the DESOPADEC as provided by the law, which is automatic, he now held the 13 percent fund — the entire money, dishing out instalmentally and approving every contract the DESOPADEC had awarded.

“So, Okowa has embezzled our money. It’s not even accounted for in his annual budget.”

According to Clark, the 17 southern governors ahead of the 2023 presidential election had resolved to oppose any party that presents a northern presidential candidate in their primaries, but Okowa went behind his colleagues to team up with Alhaji Atiku Abubakar.

He described the immediate-past governor of Delta State, Ifeanyi Okowa as a crafty man who presents himself as a good person.

Clark alleged that Okowa emerged as Atiku’s running mate for the 2023 presidential election on the platform of the Peoples Democratic Party (PDP) after spending Delta State money for Atiku’s campaign.

“Let me tell you the reason why the whole of southern Nigeria regard Okowa as a traitor. Let me tell you, he is a betrayer. Okowa volunteered to host a meeting of the 17 governors of the south. He provided accommodation for everyone one of them. He provided his secretariat, I know the person who was the secretary to the government at the time. They were there, they drafted the communique supervised by him and given to Akeredolu to read. He read it, then they all went to Lagos to confirm it, they went to Enugu to confirm it, not knowing that the same Okowa was spending our money for Atiku. I asked him in my letter to answer it”.

Clark further said that Okowa deceived his colleagues alleging that the Delta State delegates that participated in the PDP primary election ignored Nyesom Wike and Emmanuel Udom and cast their votes for Atiku, despite the southern governors’ resolution against northern presidential candidates.

“The delegates of the PDP primary, who did they vote for? Did they vote for Wike or for Emmanuel Udom of Akwa Ibom? They all voted for Atiku. So, he deceived his colleagues that we should produce the president from the south only to team up with Atiku to betray us. All the governors know about that. He is a man who is very ambitious, quiet, and giving a wrong impression about himself that he is a very good man. Very crafty man!”, he said.

You’ll recall that in September 2021, southern governors unanimously agreed that the 2023 presidency must be zoned to their region for the sake of justice and fairness.

But days after the PDP primaries, Atiku picked Okowa as his running mate for the 2023 presidential election.

On the 30th anniversary of the annulment of the June 12 presidential election, Chief Clark decried the rate of corruption at all levels of government.

“Corruption in the country is so high, which I have always said since 2014, that the government should declare a state of emergency on corruption,” said Mr Clark, a former Federal Commissioner for Information.

He added, “The rate at which corruption is going on in the country is terrible where every arm of government cannot be trusted.”

Mr Clark tasked Nigerians to ensure the country remains peaceful and crisis-free despite its numerous challenges.

“We all desired that we live in a country that is peaceful, that is free from crisis, security and economic challenges and the low corruption level,” he said.

The 96-year-old national leader called for a peaceful country where all Nigerians were equal before the law.

“When we were in the 2014 National Conference as elder statesmen, we made a lot of recommendations for the survival of Nigeria as a country.

“A united country free from crisis, where all the citizens are equal before the law, and anyone of them can rise to any position you want to lead,” he said.

He said the immediate past administration in the country did not provide the necessary ingredients for Nigeria’s democracy to grow.

“Everything was done by the executive, and the ninth Assembly did not perform well.

“Many Nigerians accused them of rubber stamping, and today we are owing so much money which would have been debated on the floor of the chamber,” he said.

On Mr Tinubu’s administration, which is a few weeks old, Mr Clark declined to comment.

“I don’t want to comment on that one much because the election tribunals are still sitting.

“I don’t want to make statements that are prejudicial. So let the law take its normal course.”

 

Hurricane Tinubu: Next, EFCC after former Minister of Aviation, Hadi Sirika

[dropcap]T[/dropcap]he Economic and Financial Crimes Commission (EFCC) has summoned the former Minister of Aviation, Hadi Sirika, to appear before the commission.

The anti-graft agency had also questioned officials of Nigerian Air over the recent launch of the airline in Abuja. While the minister was due to appear before the commission within the week to answer questions related to the launch of the airline, Nigerian Air, garbed in Ethiopian colours, the commission had already grilled some supposed officials of the national carrier.

According to a report by ThisDay, the spokesman of EFCC, Wilson Uwujaren, confirmed that there was an ongoing investigation but could not give further details.

“I can confirm that there is an ongoing investigation in that regard,” he said.

Competent sources revealed that the commission would look at the N3 billion sunk into the project though some stakeholders insisted that over N80 billion was expended on the project.

The minister had, at the twilight of the Buhari’s administration, caused the supposed launch of the Nigerian Air in Abuja using an Ethiopian aircraft.

Stakeholders were enraged that an Ethiopian airline that landed in Nigeria with Ethiopian colours was packaged as a national carrier.

The minister had said at a recent Arise News Channel interview that the landing of the Ethiopian aircraft in Abuja, was “a marketing strategy.”

“We have already questioned some officials of Nigerian Air.

“We have invited the former Aviation minister, Hadi Sirika.

We are expecting him within the week”, the source said.

The Nigerian Civil Aviation Authority (NCAA) disclosed last week that the airline was still in the first stage in a five-phase process of obtaining an Air Operator Certificate (AOC) to operate as a commercial airline.

The Airline Operators of Nigeria (AON) had also consistently opposed the idea on several grounds.

Speaking on the matter recently, the spokesman of AON, Obiora Okonkwo, warned President Bola Ahmed Tinubu not to be “blackmailed into accepting a contraption that would definitely and ultimately hurt the Nigerian economy and destroy millions of existing jobs in favour of one or two individuals”.

 

Gov. Oborevwori congratulates Delta Assembly leaders

[dropcap]D[/dropcap]elta State Governor, Rt. Hon. Sheriff Oborevwori has congratulated the Speaker of the State House of Assembly, Rt. Hon. Emomotimi Guwor and his deputy, Rt. Hon. Arthur Akpowowo on their emergence as presiding officers of the 8th Delta Assembly.

Oborevwori while congratulating the leaders, reiterated his readiness to partner with the legislature to ensure full implementation of his administration’s M.O.R.E Agenda. He stated this when he received the new Speaker, his deputy and their spouses on a courtesy visit to him at Government House, Asaba.

The governor who underscored the importance of executive- legislative relations in a constitutional democracy, said he would leverage on his experience as a former speaker of the State House of Assembly to ensure continued partnership with the legislature.

Oborevwori who expressed confidence in the ability of the 8th Assembly to meet the expectations of Deltans, said; “I have no doubt in my mind that the 8th Assembly will perform very well.

“The returning members that we served together are very experienced, knowledgeable and have the capacity to do well.”

He advised the new leadership to carry all members along and work for the unity of the state, saying, “you are first among equals and you are a witness to how I was able to manage the 6th and 7th Assembly as the longest serving Speaker of the State House of Assembly.

“Manage your colleagues very well and you will have no problems with them. Delta State is a peaceful state and we will continue to remain united for the peace and progress of this state.

“As we have promised Deltans, we will run a transparent administration with full adherence to separation of powers and we will continue to partner together to advance this state to greater heights,” Oborevwori said.

Earlier, Guwor had told the Governor that they were in his office to inform him of their emergence as presiding officers of the 8th Assembly.

He assured the Governor of the continued support and cooperation of the House to his administration’s M.O.R.E Agenda.

Guwor said: “We thank God for the opportunity to lead Delta and for granting us the opportunity to become Speaker and Deputy Speaker of the 8th Delta State House of Assembly.

“First we thank God and our constituents who made it possible for us to be elected to represent them and we also thank our colleagues who found us worthy to be presiding officers of the House.

“We want to assure you that as leaders of the 8th Assembly the legislature will have a robust relationship with the Executive Arm to ensure that your M.O.R.E. Agenda is implemented fully.

“As the immediate past Speaker of the House, you already know the workings of the House more than we do because you served for six years.

“We want to assure you and all Deltans that we will not fail in our responsibilities to serve the people of the state. We will listen and do more just like you have promised Deltans.

“We will not be a rubber stamp neither will we be antagonistic to the executive, but we will work with the executive and not for the executive, we will have a symbiotic relationship for the general good of Deltans.

“I was in the 7th Assembly and I witnessed how you carried every member along and there was no discrimination, we all worked in unison and I will borrow a leaf from your leadership,” Guwor stated.

Integrity must drive Real Estate Development – Oshia

Engr. Emmanuel Oshia,
Chairman of Emmalix Trade and Investment Limited

[dropcap]A[/dropcap]s Nigeria’s real estate sector continues to evolve, several challenges facing the sector have also hampered it from realising its true potential and the market is an all-comer market. Subscribers to home ownership plans in the country have said the failure of the government to regulate the sector has put people seeking to own homes at the mercy of unscrupulous estate developers. But the developers have also noted challenges in the capital intensive sector. In this interview, Engr. Emmanuel Oshia, the Chairman of Emmalix Trade and Investment Limited, speaks with Grassroots Publishers online  team on the impediments in real estate development while recommending possible solutions. He also speaks on the company’s successes with its estates in Delta as well as its challenges.
Hear him:

Take a look back in the then days when real estate business appears unknown. Why has it become something of importance in the present time?

During those days if you say Real Estate business is unknown, it not unknown with our fore fathers because they engage in trade by barter and the value in terms of monetary value was low. That is why you hear them saying this family own this land, the other family owns that land. Some probably give you a goat and take a land. Land has been in that system that time and its valuable within their ambits but in the present time we gave it a more advanced face lift.

Your company Emmalix Trade and Investment Limited has been around for a long time, tell us how it came into being?

I was in Lagos back in the days and was into freight Forwarding (Clearing Agency). There was this Affiliate school that came from Ghana to Lagos State University (LASU) and we were interested. In the school I saw various Courses in Transport and other disciplines. So, I chose Real Estate and studied for three (3) years before the whole thing stopped and the school was di-affiliated from LASU and they left Nigeria. But within that three years I was able to acquire little knowledge on Real Estate. When Clearing became unprofitable to me I said let me change job environment. And if I want to go into Real Estate, I can as well do it in Lagos but I said let me go to Delta State which was a new area as at that time. Let me start from my place and expand to other areas. At some point I thought of going to Osogbo in Osun State but communication in their local language would pose a challenge to me. So, I decided to go back to my place. When I came back I joined some few guys around then in Asaba and observed and studied the level they were operating. The essence of joining them was to understudy what was practically obtainable in the real Estate business. I got their ideas added to the one I studied in Lagos. That’s how I came up with something like this.

Grassroots Publishers online Team with a group picture with Engr. Emmanuel Oshia

In Asaba, Real Estate Developers appears to be the in thing now where people have confidence. What is the relationship between the Real Estate Practitioners and the indigenes who own these lands? What are the challenges you people pass through in securing the land?

Because I am an indigene that’s where I prefer to run my business. Probably buying from communities. I have to look into the family, the rangers and the committees handling the land. What area the committee says you should work on you go ahead. You also find out who is the Diokpa and thereafter bring your investors to come in. land is trouble in itself but when you handle it with sense, the problems become minor. And because we dig deep into the real ownership when such issues arise we see it as minor things we can handle on our own.
In this area you cannot find such issues except for some very minor things we handle outside the investors’ knowledge. We investigate deeply so that by tomorrow if you are bringing an investor we provide a very good enabling environment where he can do his business successfully. Not like in some areas where after building, the next day you see your fence demolished. That’s why we check very well before we go in.

How does Estate Developers solve the problems of multiple selling of lands?

We don’t engage in that at all. Doing that automatically makes you a fraudster. It is a fraudulent act. But when it involves maybe two individuals and issues of such arise, that can be resolved. But selling one plot of land to so many persons is a fraudulent practice and we don’t do that in our organization. It is one of the things I preach against when we go for Developers meetings, don’t sell and re-sell. It’s not good for the business and not good for you as a person for the sake of integrity.

You have established an integrity within the Real Estate Developers forum, looking at it at the present time, how do you see that sector contributing to the growth of the economy of the country in 10years time?

Like me, I pay my tax and if others do same there would be increase in revenue accruing to the government. On the area of empowerment, my organization has close to 40 youths working here, if Estate Developers engages 40 each, the rate of crime and other vices would reduce and the youth would be able to sort one or two things around him at home thereby staying away from crime and contributing positively to the growth of the economy.

Do you protect your clients when they buy land from you in time of developing the land and the rest?

That’s what we do and that’s the reason why we have to go deep to know the families that own the land. And when one or two persons come up you would be able to say ‘I don’t know you, I know this one. These are the people that signed for me. Where are you coming from? Depending on the angle the person is coming from, then, we would know how to handle his matter. For example, when I bought some lands around Admiralty University and the government encroached into my land, I had to go back to the family I bought the land from and asked if they have alternative place to give to my clients who also bought from me? And they said yes. Which they gave us. These are some of the ways you protect your clients from loss because they are my clients. If you don’t protect them who else will protect them?

Real Estate is a very vast sector. What are the real challenges you have faced all these years you ventured into Real Estate business?

The business is capital intensive because you don’t just go into a family and tell them I want to have this land. You start up with something. Secondly, you can also see one or two persons coming up to say the land belongs to them after due consultations have been concluded and all that. We’re not new again in it and it does not give us panic anymore because it’s land affair. What we do is to know the angle the person is coming from. Is he a member of the family or trying to claim what he’s not? These are the challenges so far I’ve experienced.

How do you handle a situation where land has been given to you by the family and government comes and overrun it?

Like the one we have now, I’ve approached the Commissioner for Lands and she told me, “This one they have acquired and gave to them”. But as we speak their tenure in office is up and I don’t know who comes after her as Commissioner but I’ll get it back.

Some clients are scared of the Community youths and various land task force,As a Real Estate Manager, how do you convince your client that he/she can still buy land and nobody harasses you?

When we started, I was giving out to companies. I brought PWAN into Ibusa and many others. During that time, we have the Local Government and the Community Youths and Surveillance Youths in general. What I did was to go to the Local Government chairman and told him that these people are investors. If somebody comes in and you charge him exorbitantly for a plot, how much is he investing on the land? Let’s do it with understanding and have a standard. I discussed with the Local government and they agreed at certain amount per plot because they’re investors and buying higher number of plots. I also went to the youths and their president and we agreed on a standard. That agreed standard is what we’re operating on anywhere I have lands. My clients are also protected in that area.

What would be your advice to anybody who wants to buy genuine land and develop?

Like I said earlier, we operate genuinely and think of tomorrow. I will not remain here forever, somebody will take over after. It’s ideal to put a legacy that somebody would inherit. Land business is a good thing and I advise people to invest their money in land; invest in a genuine company like ours – Emmalix Trade and Investment Limited. This is called Land banking. You can invest there. I started with only N1,500,000; bought and sold and re-invested the money back into land. That’s where we are today and I thank God for today. In every business there are ups and down. We’re proud of Emmalix and we’re proud of ourselves.

You have touched lives as seen from the people that work with you. What’s the magic especially with those that have lost hope before now?

There is no magic there, it’s God. In Real Estate you don’t know who is going to bring President Tinubu to your table. When they come I would say follow these people to the bush and know what they’re doing. You don’t send people away. When they come you accommodate them. Some of them have lost hope like you said but when they come in we accommodate them and give them hope. Remember when I left Lagos, I didn’t come with anything. Ikwele of Ibusa can testify to that because he left before us. People said so many negative things but I came back with something. Probably they were expecting I should come back with a car, that’s a material thing. I came back with wisdom and knowledge that I planted which is manifesting now. So, if they come you welcome them. It’s not like we have it too much but since we have the one you can take we will not stop assisting them.

What is the future of real estate in Nigeria?

The future is real estate, certainly. Just like the government is picking interest in agriculture, they should also pick specific and special interest in real estate because that is where the future is.
Even the most developed countries in the world are into housing so why not Nigeria. Real estate should be part of our development plan and aspiration.
How would you describe the regulation of real estate in Nigeria?

Well. Real estate business is not regulated in Nigeria. There’s no established rules for players in the market. That’s why I said it’s an all comer market. Everybody can establish himself and get into the market. But the coming of the Real Estate Developers Association has helped to register competent developers especially here in Asaba and its environs. But there are still a lot of quacks in the market. And with quackery, you know what you get in terms of quality and in terms of delivery. Also in terms of genuineness, business and intention.

Like I said, if there are basic regulations there, the mortgage industry will be very sound. Apart from the mortgage, there will be some specific government intention to deliver quality houses by providing some level of financing for real estate developers. Like you know, the economy of Nigeria isn’t stable and building materials are skyrocketing everyday and that makes construction expensive. And that’s why houses are expensive too.
In that case, you will have stock of houses with few buyers. The willing public are there but there is no financial backing. So in as much as the government is providing mortgages, the government should also provide the medium to regulate building materials.

Looking at you, you are a very hard working person when it comes to Real estate matters. How do you relax?

I put myself off from work Saturdays and Sundays. I don’t come to the office on Saturdays except it is very important. But most Saturdays Sundays I don’t go out, I operate from home. Most times I tell my workers to stay off sites and when any public holiday falls in we don’t work on such days as well. We observe public holidays.

What will you be remembered for?

Good name! If you meet anybody for something and they say go and meet him, he’ll give you that which you want, what else do I want? If the chiefs in Igbuzor can recognize me what else do I want? I cannot put hand in bad things because people recommend me to others. That good name is what I want to leave behind; it’s not money because money has its work to do which it will always do but that Good name will remain forever. Thank you.

June 12: We must guard our democracy jealously –Tinubu —•Says those who can’t endure pain of defeat don’t deserve joy of victory

 

President Bola Tinubu

[dropcap]P[/dropcap]resident Bola Tinubu has reminded Nigerians that the late Moshood Abiola, winner of the annulled June 12, 2003 election paid the ultimate price, hence the need to never take this democracy for granted but to guard it jealously and protect it like a precious jewel.

He noted that the democracy that is steadily growing to become the defining essence of the nation’s polity was not gifted to the citizens on a silver platter.

The President, in his democracy address to the nation, said Abiola sacrificed his life in unyielding, patriotic defence of the ideals of democracy as symbolised in his choice, by his fellow countrymen and women, as their duly elected president.

Tinubu noted there was an easier choice for Abiola, which was to forgo the justice of his cause and opt for the path of ease and capitulation in the face of the tyranny of power, but to his eternal credit and immortal glory, he said no.

He said Abiola demonstrated the time-tested eternal truth that there are certain ideals and principles that are far more valuable than life itself.

President Tinubu also recalled the several other heroes of democracy such as Kudirat, wife of Chief Abiola, who was brutally murdered while in the trenches fighting on the side of the people, Pa Alfred Rewane and Major General Shehu Musa Yar’Adua (rtd) who were silenced by the military junta while in pursuit of democracy. He said, they gave their yesterday for the liberty that is ours today.

“Fellow compatriots, we celebrate a day that has remained a watershed in our nation’s history, not just today, but for every June 12, for the endless future that our beloved country shall exist and wax stronger and stronger, generations of Nigerians will always remind themselves that the democracy that is steadily growing to become the defining essence of our polity was not gifted to us on a silver platter.

“We can easily recall the sacrifice and martyrdom of Chief MKO Abiola, the custodian of the sacred mandate that was so cruelly annulled. He sacrificed his life in unyielding, patriotic defense of the ideals of democracy as symbolized in his choice, by his fellow countrymen and women, as their duly-elected President. There was an easier choice for him. It was to forgo the justice of his cause and opt for the path of ease and capitulation in the face of the tyranny of power. To his eternal credit and immortal glory, Abiola said no. He demonstrated the time-tested eternal truth that there are certain ideals and principles that are far more valuable than life itself.

“Everyday, on this day, down the ages we will recall the several other heroes of democracy such as Kudirat Abiola, wife of Chief Abiola, who was brutally murdered while in the trenches fighting on the side of the people. We remember Pa Alfred Rewane, one of the heroes of our independence struggle and Major General Shehu Musa Yar’Adua (rtd) who were silenced by the military junta while in pursuit of democracy. They gave their yesterday for the liberty that is ours today.

“The point is that we must never take this democracy for granted. We must forever jealously guard and protect it like a precious jewel. For, a people can never truly appreciate the freedoms and rights democracy guarantees them until they lose it.

“We have traversed the dark, thorny path of dictatorship before and those who experienced it can readily testify to the unbridgeable gap between the dignity of freedom and the humiliation and degradation of tyranny. True, rancorous debates, interminable wrangling, ceaseless quarrels, bitter electoral contestations may be perceived by some as unattractive features of democracy. But they also testify to its merit and value.”

President Tinubu noted that the seventh circle of the country’s democratic elections was keenly contested with winners excited and losers disenchanted and disappointed.

He further noted that the beauty of democracy is that those who win today can lose tomorrow and those who lose today will have an opportunity to compete and win in the next round of elections.

“Those who cannot endure and accept the pain of defeat in elections do not deserve the joy of victory when it is their turn to triumph. Above all, those who disagree with the outcome of the elections are taking full advantage of the constitutional provisions to seek redress in court and that is one of the reasons why democracy is still the best form of government invented by man,” he said.

June 12: Atiku, IBB others knock leaders, Obi hopeful of new Nigeria

[dropcap]T[/dropcap]hirty years after the annulment of the June 12 presidential election adjudged as freest and fairest poll in the country’s political history, former military president, General Ibrahim Babangida, former vice-president, Atiku Abubakar, elder statesman and Ijaw leader, Chief Edwin Clark,  Prof. Jerry Gana, former Minister of Information and National Orientation, the Afenifere and others have expressed divergent views.

While Gen. Babangida who headed the government that annulled the election in the “interest of Nigeria” knocked the nation’s political leaders in succeeding elections for not ignoring its gains, Atiku said political leaders must be committed to the principles of fairness in election conduct, to avoid a dictatorship society while  Prof. Gana said the annulment was a tragic mistake that should not have happened.  Amidst the divergent views,  presidential candidate of the Labour Party (LP), Mr. Peter Obi, said June 12 should serve as commitment and conviction that a new Nigeria is possible.

The Armed Forces Ruling Council (AFRC) under the leadership of Babangida annulled the election adjudged to be the freest and fairest in the country.

In a statement, yesterday, IBB tasked Nigerian leaders to explore the gains of June 12, 1993 presidential election toward deepening democracy in the country.

IBB, who spoke through his media aide, Kassim Afegbua, said although Nigeria’s democracy had recorded some growth, there was still many grounds to be covered.

“There is thuggery in politics in Nigeria, too many litigations in Nigeria, too many issues that transparent elections ought to have addressed,” he said.

Babangida decried increasing voter apathy in Nigeria’s election, attributing it to insincerity by the leaders resulting in lack of trust by the electorate.

“June 12 should naturally encourage more voters to endorse democracy and election, but the number of turnout during our election is gradually declining.

“Right now there is voter apathy, that’s the more reason why something must be done to ensure mass participation in election,” he said.

He said the country’s democracy had got more advanced with some achievements and urged Nigerian politicians to work toward making it better.

“Nigeria’s democracy is getting more and more older. Democracy has come to stay but despite the imperfections, we can still get our arts together to correct some of the issues and continue on that trajectory. It is a learning curve and a work in progress. Our leaders must continue to invest their time, energy and resources to deepen democracy and sustain democratic ideals,” he said.

Democracy in bondage in Nigeria

In his reaction, former vice-president, Atiku said for democracy in Nigeria to come of age, incumbent political officeholders must stop influencing election outcomes.

The former PDP presidential candidate said his observation of how democracy is run in Nigeria has convinced him that “a lot of work still lies ahead.”

He added that democracy in the country “remains in bondage.

“On this occasion of Democracy Day, it is time for us to reflect as a people and a country on our journey to becoming a democratic society,” the statement reads in part

“For Nigerians who were around during the dark days of military dictatorships, it is important that we appreciate the successes that we have achieved in making democracy the norm of politics in Nigeria.

“But democracy without a corresponding commitment to the principles of fairness and fidelity to the rule of play by stakeholders in the processes of conducting elections still leaves the people prostrate to tendencies of dictatorship.

“For our democracy to be fully fledged, it must constantly evolve away from the current practice where the governing elite determines the outcome of elections.

“Democracy and the process of democratisation is a constant work in progress. While what we celebrate today is a return to civil rule in Nigeria, the desire to make our democracy self-sustaining and independent of anti-democratic elements is the new frontier of participation by all democrats.”

Nigeria should be crisis-free – Clark

Elder statesman and Ijaw leader, Chief Edwin Clark, tasked Nigerians to ensure the country remain peaceful and crisis-free in spite of its numerous challenges.

“We all desired that we live in a country that is peaceful, that is free from crisis, security and economic challenges and the low corruption level.

“Corruption in the country is so high which I always say since 2014, that government should declare a state of emergency on corruption.

“The rate at which corruption is going on in the country is terrible where every arm of government cannot be trusted,” he said.

The 96 year-old national leader called for a peaceful country were all Nigerians were equal before the law.

“We want a Nigeria where all of us live together peacefully and there is no discrimination and we should all obey the provision of the Constitution which states there should be no state religion.

“There should be no promotion of a particular religion over and above others.

“When we were in the 2014 National Conference as an elder statesman, we made a lot of recommendations for the survival of Nigeria as a country.

“A united country free from crisis, where all the citizens are equal before the law and anyone of them can rise to any position you want to lead.”

June 12 historic, deserves to be celebrated – Peter Obi

Mr. Obi has described  June 12 as a historic day that deserves to be celebrated.

“On that day in 1993, we the people of Nigeria stated our unreserved preference for true democracy. Though under military rule, we freely chose a transparent voting method. Our votes reflected our true choice as a people. Our choice on that day defied divisions of ethnicity, religion and region.

“It is these qualities that added up to make June 12 special in our search for true democracy.

“Our collective choice of late Chief M. K.O AbIola as a worthy leader for nation was saluted by Nigerians and governments and peoples across the world.

“Therefore, June 12 underpins our long collective journey to nationhood as a true democracy.

“However, the current state of our politics tells a different story. Our democracy is deeply troubled while our nation’s destiny remains uncertain and precarious.

“We remain a nation in search of solutions to too many basic problems. One of these is the search for a credible electoral system that would command the trust, confidence and belief of ALL Nigerians just like June 12 did.

“We should, therefore, use the commemoration of June 12 as an occasion to return to the true virtues of a truly democratic nation. We achieved that feat on June 12, 1993.

“In the spirit of June 12, therefore, we need to emplace an electoral system that commands the trust of the people. This is in recognition of the tenets and core values of democracy, which rests on respect for the wishes of the people as expressed in their ballots.

“Above all, government must respect and protect the institutions of the democratic state by respecting the social contract with the people by meeting their needs, obeying their wishes and fulfilling the responsibilities of responsible governance as contained in the constitution. A cardinal responsibility of government in this regard is respect for the rule off law.

“Regrettably, we are now in an era where these foundational pillars of democracy are undermined by prevalent impunity and pervasive violence and bloodletting.

“The trust deficit between the leaders and Nigerians continues to expand. The deficits of trust and efficiency in our last elections demonstrate this malady quite boldly.”

Annulment tragic mistake – Gana

Prof. Gana said the annulment was a tragic mistake that was not supposed to have happened.

“It was a tragic mistake, it should not have happened but since it happened may God help us to get out of it,” he said.

The former minister said the election was a period Nigerians united against evil forces but along the line the people that never meant well for Nigeria had their way.

He averred that democracy was better than any other form of government across the globe.

“Therefore, we must stay with democracy in order to better Nigeria because it delivers freedom, human rights and a good number of other things,” he said.

Gana said in all Nigerians needed to thank God for keeping the people and the country together especially, from 1999 to 2023 because the nation’s democracy had had many challenges. What happened since all these years destroyed other countries when it happened there but we are still living together as a people,” he said.

Foundation urges action against divisiveness

Senator Polycarp Nwite Foundation for Democratic Accountability (SPNFDA) said Nigeria would not make any realistic progress in her democratic journey if systemic failures that enable divisiveness, nepotism and avarice be allowed to continue without decisive action by the Nigerian leadership.

The foundation named after the late third republic senator, Polycarp Nwite, democracy advocate and former senior presidential aide who, like President Bola Tinubu, was incarcerated by the military junta, during the June 12, 1993 political crisis, made the assertions in a statement in Abakaliki, Ebonyi State.

“We are absolutely convinced and confident that President Tinubu, being one of the courageous fighters for the enthronement of Democracy in Nigeria, as the current man in the driving seat of Nigeria’s democratic leadership, is not only conversant with the democratic principles, norms and nuances, but is also willing and courageous enough to lead Nigeria to the future that would abhor divisiveness, fight nepotism, ethnic and religious bigotry, government indifference and insensitivity to the plight of the people and glaring injustice of unequal distribution of opportunities and common wealth of the nation.

“We are most glad, and I believe that our late father, Senator Nwite would’ve shared the same sentiments, were he to be alive, that President Tinubu, who he fondly called ‘Bola’,, now has the opportunity to fix Nigeria for the good of the people, in a democratic setting, like they had dreamt about, both in the trenches and in detention camp at Alagbon Close, Lagos state, where they were next-door cell mates in the dark days of military dictatorship.

“The tough decisions President Tinubu has made right from his first day are indicative of a president who will lead from the front and make tough calls for the overall good of the people.

“Nigeria deserves a leader that will be bold and decisive in policy formulation, implementation and declarations that guarantee democratic dividends and accountability to the Nigerian people.”

The Foundation implored the president to also take decisive action in education, health and electricity power generation/distribution to essentially curb unproductivity, youth unemployment, current mass migration to foreign lands, in search of better livelihood.

Afenifere charges Tinubu to enhance people’s welfare

Afenifere has said this year’s Democracy Day celebration is significant because President Bola Ahmed Tinubu, one of the leading lights of the June 12 struggle is in the saddle.         

The pan-Yoruba socio-political organisation in a statement by its National Publicity Secretary, Jare Ajayi noted that Tinubu played a prominent role in the National Democratic Coalition (NADECO), the coalition of pro-democracy groups that fought the military with the aim to actualise the late MKO Abiola’s mandate.

Afenifere said the celebration of the 30th anniversary of June 12, 2023, is a landmark victory for democracy as it offers Tinubu the opportunity to actualise the vision both lath Chief Obafemi Awolowo and MKO Abiola nursed for Nigeria.

“Tinubu incidentally was part of Hope 93, the trajectory mounted by Abiola who contested the 1993 presidential election on the platform of the Social Democratic Party (SDP). Thus, Tinubu was very much aware of the plans Abiola had for transforming Nigeria had he become the president of the country. Herein, among other areas, lies the significance of Tinubu mounting the saddle exactly 30 years after the historic election that would have seen Abiola in Aso Rock. Tinubu now has the onerous responsibility of actualising the noble dreams of Abiola for Nigeria and the Africa continent.

“Just as he is familiar with the life-transforming programmes of his older political icon, Chief Obafemi Awolowo, now, he has the responsibility to harmonise the big projects of these two men and integrate them with his own plans with a view to making Nigeria fulfil its destiny. The destiny of being the leading light for the Black Race all over the world. A destiny the country was on the path to fulfil but for the unfortunate military incursion of 1966.”

Submitting that the theme for this year’s Democracy Day celebration which is ‘Hope Reassured’ is apt, Afenifere spokesman urged President Tinubu to ensure that his government does not dash the hopes of Nigerians as many previous administrations did.

“From the actions he has taken so far, we are confident that this administration will reset Nigeria back on the path of glory in which the people will truly be happy under an atmosphere of good governance.”

AANI calls for constructive dialogue

The Alumni Association of the National Institute (AANI) has described June 12 as significant in the nation’s political history as it marks the resilience and determination of the Nigerian people in their pursuit of democratic governance.

President of the association and former Inspector General of Police (IGP), Mohammed Abubakar, who made this known, called on Nigerians to embrace the new government by engaging in constructive dialogue and working together to address our challenges.

Abubakar, in a statement by the association’s national publicity secretary Brigadier General Sani Kukasheka Usman (retd), said “as policy and strategic leaders, it is our responsibility to lead by example and promote the values of democracy. We must support initiatives that promote inclusivity, transparency, and accountability. By doing so, we can foster an environment conducive to national development and create a better society for all.

“Embracing love for one another and fostering national unity is essential for the progress and well-being of our great nation, Nigeria. On this Democracy Day, let us reaffirm our commitment to these ideals and work towards a more harmonious and inclusive society.

“We extend our heartfelt appreciation to the security forces and all those who diligently strive to maintain sustainable peace, uphold democracy, and promote national reconciliation and stability. Their unwavering dedication and sacrifice contribute to the safeguarding of our nation’s progress and prosperity.

“By valuing and respecting one another, irrespective of our differences, we can build bridges of understanding and create an atmosphere of unity. Together, let us celebrate our diversity and leverage it as a strength that unites us in our pursuit of a brighter future for our country.

“On this Democracy Day, let us also cherish the principles upon which our forefathers founded our nation and strive to uphold them. May this day serve as a reminder of the power of democracy and our collective responsibility to safeguard it.

“May love, unity and peace guide us as we forge ahead on the path of progress. Let us stand united for the betterment of Nigeria. Together, we can build a brighter future for Nigeria. May this Democracy Day bring renewed hope, unity, and prosperity to our great nation. 

CSO coalition plans protest over petrol subsidy

However, a coalition of organised civil society groups and some pro-democracy counterparts have

A statement by Olawale Okunniyi on behalf of the CSOs and pro-democracy groups stated that June 12 would be marked as ‘Day of National Protests over Petrol Subsidy Fraud and Hike in Fuel Price.’

Okunniyi said the nationwide protest is to ensure “that the elite consensus to remove the fraudulent fuel subsidy in Nigeria does not become another opening for state cartel to manipulate and exploit the subsidy removal policy to further dis-empower and pauperize the vulnerable and poor in Nigeria.”

Okunniyi condemned what he termed the lack of consultations and the dictatorial tendencies exhibited by the government in removing the subsidy.

He said the removal of subsidy would plunge working Nigerians into further hardship

“In a decisive resolve to compel the government to reverse its latest controversial and unbearable fuel prices back to the former official price of N167 per litre and also to enter into immediate consultations and negotiations with key segments and stakeholders of country, including labour, private sector and the organised civil society to agree on a national consensus on how to deal with fuel subsidy question in Nigeria, the coalition have decided to mobilise and lead the collective intervention of Nigerian citizens, youths and the masses to ensure that the elite consensus to remove the fraudulent fuel subsidy in Nigeria does not become another opening for state cartel to manipulate and exploit the subsidy removal policy to further dis-empower and pauperize the vulnerable and poor in Nigeria in order not to plunge the vast majority of Nigerians into deeper economic crises, crimes and insecurity.”

The CSOs asked the government to also investigate other subsidy regimes outside petroleum products with a view of getting rid of corruption in those areas.

“Since there seems to be a national elite consensus that the Fraudulent contraption called fuel subsidy should be removed, it is therefore obvious that all other subsidy regimes in Nigeria are plagued with the same disease of corruption and official mismanagement. Targeting just the fuel subsidy is anti-people. all corrupt/ phantom subsidies must be removed”, Okunniyi said.

Nigeria needs sincere leadership to grow – Mali-Gubio

Dr Bulama Mali-Gubio has Nigeria needs sincere leadership to grow and attain its full potential as the giant of Africa.

The spokesperson for the Borno Elders Forum said Nigerian’s approach to leadership was wrong, noting that the primary goal of many leaders in the country was self-enrichment.

“Leading a country involves making policies and finding solutions to problems, ensuring stability of the polity, and guiding the country to prosperity.

“But a large number of Nigerian leaders lacked the vision,  passion, and the character to effectively govern and deal with the economic situation.

“In order to achieve the Nigeria of our dreams, we as citizens must first change our values, attitudes and orientation.

“This is because values are the building blocks of national development and no nation can achieve its developmental aspirations unless her citizens embrace and espouse the right values and attitudes,” he said.

Mali-Gubio blamed Nigeria’s socio-economic problems on lack of value orientation.

“Like other nations of the world, Nigeria has always had its own set of values which are expected to shape behaviors and drive the process of development.

“These values, also known as national ethics are enshrined in chapter two, Section 23 of the 1999 constitution (as amended). They include discipline, integrity, dignity of labour, social justice, religious tolerance, self reliance and patriotism.

“These core values were greatly cherished by traditional Nigerian society and they formed the basis for the unity, stability and cohesion of our society.

“Because our values were right, the generality of our people exhibited positive attitudes of love of neighbor, commitment to hard work, team and community spirit, love of country, respect for elders and constituted authorities, respect for the sanctity of human life, among others,” he said.

Mali-Gubio added:”Unfortunately, our value system has degenerated over the years, the family institution has collapsed.  Community spirit has given way to individualism while indolence has taken the place of hard-work.

“Merit is now sacrificed on the altar of mediocrity, cronyism and nepotism.  Wealth, no matter the source, is now celebrated in place of honesty and integrity.

“It is clear that no nation can make any meaningful progress in the face of these social vices arising from negative values and dysfunctional attitudes.”

He said that the advent of internet which made the world a global village, had further eroded Nigeria’s cultural values and identities of the people.

He said that Nigerian youths were daily fed with values that were at variance with their culture, making them to internalise strange and alien cultural traits.

“Nigerian society has become a testing ground for all forms of violent crimes disseminated to our youths through a deliberate and sustained programme of indoctrination, ethno-religious militia insurgency engaging in mindless destruction were brought upon us.

“Since the beginning of the Fourth Republic on May 29 1999, Nigeria has continued to struggle with the delivery of democratic governance and democracy dividend – social welfare, justice, equity, and equal access to resources and power.

“After a decade of the current epoch, there is the need to identify concrete challenges to democratic governance in Nigeria with a view to contextualizing the core factors that continues to obfuscate democratic governance.

“A reflection on the above calls to question certain issues that stands as challenge to democratic governance in Nigeria,” he said.

11 interesting facts about the 2023 Electricity Act signed by Tinubu

President Bola Tinubu

[dropcap]T[/dropcap]he new Electricity Law intends to create a comprehensive legal and institutional framework to guide the Nigerian Electricity Supply Industry (NESI).

The main aim of the bill is to create a comprehensive legal and institutional framework to guide the Nigerian Electricity Supply Industry (NESI).

With the 2023 Electricity Act now in operation, the age-long issue of monopoly in electricity generation, transmission, and distribution at the national level will no longer be tenable.

11 benefits of the newly signed 2023 Electricity Act

1. The Nigerian Electricity Regulatory Commission (NERC) will act as the regulator of the Nigerian electricity sector.

2 The law allows states, companies, and individuals to generate, transmit and distribute electricity.

3 Anyone licensed to generate electricity under the new law bears the responsibility to meet renewable generation obligations as may be prescribed by NERC.

4 The commission can surrender regulatory responsibilities to state regulators when they are established.

5 NERC will not transition regulatory powers to a state until such a state has passed its electricity market laws.

6 It empowers anyone to construct, own, or operate an undertaking for generating electricity not exceeding one megawatt in aggregate at a site, or an undertaking for distribution of electricity with a capacity not exceeding 100 kilowatts in aggregate at a site, or such other capacity as the commission may determine from time to time, without a licence.

7 Electricity generating companies will be mandated to either generate power from renewable energy sources, purchase power generated from renewable energy or procure any instrument representing renewable energy generation.

8 The law empowers lawmakers to carry out oversight responsibilities and function over the NESI through its respective committees on Power in both the Senate and House of Representatives.

9 Though states are allowed to regulate electricity markets by issuing licences to private investors who can operate mini-grids and power plants within the state, the act prohibits interstate and transnational electricity distribution.

11 For other states without electricity market laws, NERC will continue to regulate their electricity generation and transmission.

A Special Birthday Tribute to Ambrose Elofu Elue-Dike: An Enigma Like No Other

Ambrose Elofu Elue-Dike

[dropcap]A[/dropcap]ge may be a number but life is certainly a battle. And if the life is that of the urbane and personable the Chairman of Hotel de Espana, Ambrose Elofu Elue-Dike, then life is not only a battle–it is a full blown war. Ever since he adorned himself as a soldier for good, he has had no reprieve from the unrelenting forces of evil. He is caught in the vortex of the eternal battle between good and evil.

Indeed, to those who know him up close and personal, Dike is an enigma: humble, self-effacing, industrious, practical, efficient by nature, diligent, always thinking about things he needs to accomplish or how to get ahead on his next assignment, a complete Gemini, if you care to assess him by his Zodiac sign. But in plain terms, he is a case of a man who set out to always make a difference wherever he found himself. Not the kind of difference other men pursue to grandstand, but the type that impacts humanity and makes life easier for people. And of this, his track record is unassailable. A look back at his trajectory gives a chronicle of exemplary service to his community and a profile of pure patriotism from an individual.

Greatness is a property for which no man can receive credit too soon; it must be possessed long before it is acknowledged. ”When one of the world’s greatest thinkers, Ralph Waldo Emerson handed down the above words of wisdom, those he had in mind were certainly the likes of Ambrose Elofu Elue-Dike (Espana)! .

For the trail-blazing Business mogul from Isieke-Ibusa,Delta State, it is certainly impossible to gloss over his attributes for greatness. He is the embodiment of cerebral articulation, the essence of unparalleled philanthropy, the epitome of intellection and breathtaking simplicity, the personification of undiluted humanness, the perfect example of business leadership symbolism, the paragon of idealism, the soul of humanity, the heart of warrior, a perfect gentleman.In the gallery of great leaders and great men, he is without doubt, a rare masterpiece. Anyone who encounters him would love to associate with him for his candour, courage and forthrightness. As a human being, his humility and modesty is second to none. As an Businessman, he is sound and engaging.

Ambrose Elofu Elue-Dike,he means different things to different people; to his wife and children, he is a loving husband and a kind daddy, while to us his admirers,he is known as the Digital Business Strategist but his detractors always erroneously see him as an obstacle because of his rising profile in business,Politics and acceptance by the grassroots.

Ambrose is not only the Pride of Dike’s but also the Pride of the People of Oshimili North Local Government Area for whom he had waged countless business and political wars for and won virtually all,just like the Greek mythological Odyssey who fought and won difficult battles in History. Indeed the birthday celebration of this digital Businessman of our time had been useful and Resourceful for his service to humanity. Therefore today let me on behalf of Most Distinguished Senator Peter Onyelukachukwu Nwaoboshi (SPON) Political Family join the rest of my beloved Ibusa kingdom in Oshimili North Local government Area of Deltans and Nigerians at large to celebrate our Business and Political iconoclastic Espana International(Umuejei-Ibusa),to thank Almighty God for adding another year to his life and to pray that God continues to bless him with robust health, protection,and enduring provision. Your business reign shall bring prosperity and peace to Ibusa, Oshimili, Delta State and Nigeria in general.
Your legendary generosity and willingness to do good at all times is documented in the hearts of millions. That is why on your birthday, You deserves a toast and song, “Happy birthday to you…” Above all, You deserves a prayer from everyone who is on the side of truth in the eternal battle between truth and falsehood.
Happy birthday to the regent,aka Umuejei-Ibusa,a great lover of our tradition.

Nwannem!!!

President Tinubu Signs Electricity Bill Into law

President Bola Tinubu

[dropcap]T[/dropcap]he President, Bola Tinubu, on Friday signed the Electricity Bill into law, signaling the de-monopolisation of Nigeria’s electricity generation, transmission, and distribution of electricity at the National level.

The new law also empowers States, companies and individuals to generate, transmit and distribute electricity.

Grassroots Publishers online gathered that the president signed the new bill into law after the final harmonized version by the Senate and House of Representatives were sent to him.

With the ninth National Assembly expiring, the president has till June 10 (tomorrow) to sign the bill into law else it would have to go through another round of legislative process. This was after former President Muhammadu Buhari failed to sign it before leaving office May 29.

Grassroots Publishers online gathered that due to the importance of the bill, President Tinubu was urged to sign it before its expiration of the ninth National Assembly to guard against it suffering the fate the Petroleum Industry Bill (now Petroleum Industry Act) suffered, taking it 20 years to become a law.

A former Governor from the North who just left office and who is very influential in the All Progressives Congress (APC), Spade Ng News was told, reached out to President Tinubu early in the week to alert him on the importance of signing the Bill before the end of ninth NASS.

The new bill states that anyone may construct, own or operate an undertaking for generating electricity not exceeding 1 megawatt (MW) in aggregate at a site or an undertaking for distribution of electricity with a capacity not exceeding 100 kilowatts (KW) in aggregate at a site, or such other capacity as Nigerian Electricity Regulatory Commission (NERC) may determine from time to time, without a license.

Ten unforgivable sins committed by Emefiele

Suspended CBN Governor, Godwin Emefiele.

[dropcap]E[/dropcap]mefiele has been suspended by President Tinubu with immediate effect and the possibility of him returning to the CBN is almost non-existent.

Emefiele finally met what might appear to be his waterloo on Friday, June 10, 2023, when the presidential hammer landed on his ever-shining, but delicate head.

In a not-so-shocking development, President Bola Tinubu dropped the axe on Emefiele who had caught the figure of a pariah in some sort, largely due to the excruciating effects of his many ill-thought-out, poorly-executed fiscal and monetary policies on Nigerians.

The reactions that have trailed the controversial CBN governor’s suspension so far suggested that President Tinubu may jolly well have ended the reign of economic terror and wanton financial servitude most Nigerians were subjected to in the last decade.

When the news broke on Friday night, you could hear a national sigh of relief, so silent, but still audible enough to reverberate across the country. It was one of such very rare occasions when Nigerians collectively agreed on a course of action.

Such was the kind of impact Emefiele had on the nation. He was not only one of the longest-serving government appointees but also held a position that was crucial to the economic prosperity and survival of Africa’s most populous country and its citizens.

But, his stint will be etched in the annals of history as the one that ushered Africa’s biggest economy into the worst economic phase in its over 60 years of nationhood.

Having been privileged to serve under three different presidents, one would imagine that Emefiele will exit office amid pumps and pageantry, but the reverse is clearly the case.

CBN Governor Godwin Emefiele and President Muhammadu Buhari during the unveiling of the redesigned naira notes. 

Below are 10 reasons Nigerians may never forgive Emefiele

1 Naira plunged to an all-time low: Under Emefiele’s watch, the nation’s currency suffered a great deal. The naira, which was exchanging for ₦190 to one United States dollar before he assumed office in 2014, sank to an all-time low, trading at over ₦750 at the parallel market as of Friday.

2 Encouraged forex arbitrage and round-tripping: Against advice by experts, including the International Monetary Fund (IMF) and the World Bank, that the naira should be allowed to find its true value, the suspended CBN governor spent trillions of naira trying to defend the currency but to no success.

He also created a window for Importers and Exporters to access dollars at subsidised rates in a bid to keep inflation at bay. While the answer to whether the intervention was successful or otherwise is still blowing in the wind, what is in no doubt is the price discrepancy it created in the market.

As a result of this, some unscrupulous elements who are opportune to access forex in the I&E window smiled to the banks at the expense of the Nigerian masses by profiting heavily from currency arbitrage and round-tripping.

3. Banned Crypto trading: Arguably, the biggest blow Emefiele dealt the young population was his decision to prohibit banks from dealing in cryptocurrencies or facilitating payments for cryptocurrency exchanges in Nigeria in 2021.

Justifying his decision to ban cryptocurrency-related transactions in the country, he claimed that digital currency was being used for money laundering and terrorism, adding that the use of cryptocurrencies in Nigeria is a direct contravention of existing law.

Though the apex bank promised to bring up a regulatory policy framework for the implementation of cryptocurrencies in the country, not much has been heard about that since.

4 Accused a website of causing naira devaluation: Perhaps the most ridiculous act from an apex bank governor anywhere in the world. Frustrated by his failure to rescue the falling naira, in September 2021, Emefiele accused AbokiFX of economic sabotage.

The online platform is famous for publishing daily foreign exchange rates in the parallel market and is a popular reference point for traders. But, the suspended CBN governor said, by publishing speculative black market rates, the platform and its founder, Oniwinde Adedotun, were influencing the naira value.

Group campaigning for Godwin Emefiele’s presidency (Leadership)

5 Dabbled into politics: If his sins were to be ranked, this particular one will take the top spot. In a very surprising move and against the rules of his office, Emefiele decided in his wisdom that he wanted to succeed President Muhammadu Buhari as Nigeria’s president.

Even though he never came out to declare this ambition, pictures emerged online of campaign vehicles painted with his image on them. Also, a group of All Progressives Congress (APC) supporters purchased the party’s presidential expression of interest and nomination forms in his name.

As criticisms grew about his inordinate ambition, Emefiele approached the court to seek clarification on whether he is eligible to contest for president without resigning his position as the CBN governor. The court ruled against him.

6 Introduced Naria re-colouration and cashless policy: Reeling from his failed presidential bid, Emefiele decided to get back at the politicians who he believed thwarted his dream and sold the dummy of naira redesign and cashless policy to the former President.

However, his intention became clearer as we approached the last general elections. What was meant to be a cash swap later turned to cash confiscation as Nigerians were denied access to their money, leading to protests and chaos in several states across the country.

7 Alleged Terrorism financing: While this still remains in the realm of speculation, several reports have alleged that the Department of State Services (DSS) has established a link between the embattled banker and terror financing in the country. He was accused of funding the activities of the proscribed pro-Biafra group, IPOB and other such groups in the country.

8 Refused to pay Paris Club refund: Emefiele has a pending case before Justice Inyang Ekwo of the Abuja Federal High Court over his refusal to effect payment of $53 million judgement debt arising from the Paris Club refunds.

The suspended CBN governor was initially invited to appear before the court on January 18, 2023, to explain his refusal to obey a valid order for payment of a $70m debt.

9 Failed to tame raging inflation: Despite spending trillions of naira in form of interventions to bring down inflation, Emefiele successfully failed in this singular task as inflation surged to an 18-year high from 9% in 2014 to 22% in 2023.

10 Illegally printing money: Emefiele was also accused of printing money for the federal government to the tune of ₦22 trillion, an action considered to be illegal for an apex bank.