The Kano State Police Command, on Monday, banned all forms of protests in the state, with immediate effect.

This followed intelligence received by the Command that the two dominant parties; the New Nigeria People’s Party, and the All Progressives Congress have assembled a crowd to embark on a protest, without the endorsement of the Nigeria Labour Congress.

The lawmaker representing Akoko North-East and North-West federal constituency of Ondo State in the House of Representatives, Hon. Olubunmi Tunji-Ojo, has resigned his membership of the National Assembly after accepting his nomination by President Bola Tinubu to serve as a Minister in the cabinet.

Tunji-Ojo’s resignation was contained in a letter addressed to the Speaker of the House of Representatives, Rt. Hon. Tajudeen Abbas.

A copy of the resignation letter was made available to journalists by Hon. Tunji-Ojo’s spokesman, Mr Babatunde Alao, in Akure, the Ondo State capital.

In the letter, Tunji-Ojo confirmed that his resignation was necessitated by his appointment to serve Nigerians as a Minister of the Federal Republic of Nigeria in President Tinubu administration.

He explained that he had been chosen at a time when the country was in dire need of technocrats to help contribute their quota to the advancement and economic growth of the nation.

While appreciating President Tinubu for finding him worthy to serve the country in his new role as a Minister, Hon Tunji-Ojo said he was prepared to give his best for the ‘Renewed Hope’ agenda of the present administration.

“Our dear country is in dire need of collaborative and concerted efforts that would engender the much-needed advancement to greater heights and I have been appointed to contribute my quota to achieve that enviable objective as a Minister of the Federal Republic of Nigeria,” the letter reads in part.

Tunji-Ojo, popularly known as BTO, is among the 48 ministers-designate appointed by President Tinubu and is to be sworn-in this Monday in Abuja.

He was first elected into the House of Representatives in 2019 where he served as the Chairman, House Committee on Niger Delta Development Commission (NNDC) in the 9th National Assembly.

However, he was re-elected into the National Assembly for a second term after winning the 2023 elections.

Aside from being a member of several committees in the National Assembly, Tunji-Ojo facilitated several projects of tremendous value and development to his constituents and constituency.

He will be sworn in as Minister of Interior in the Federal Executive Council (FEC).

“Should today’s Ìsèse Day be costumed as a competition with Muslims’s Sallah and Christians’ Christmas? Before you say anything, ask what the word Ìsèse means, literally. It means ‘the beginning.’ And, what is the place of ‘the beginning’ in Yoruba’s belief system? That question was asked centuries ago by the elders: kí l’a kókó se ní’fè ká tó s’awo? (what did we consider first in Ile Ife before worship?). Those who asked the question provided the answer: Ìsèse l’a kókó se ní’fè ká tó s’awo (Ìsèse was considered first in Ife before worship). They explained further what makes up the conceptual Ìsèse :
Ìyá eni, Ìsèse ni (one’s mother is Ìsèse ).
Bàbá eni, Ìsèse ni (one’s father is Ìsèse ).
Orí eni, Ìsèse ni (one’s head is Ìsèse ).”

“The ascendancy of this president was celebrated by his fans as a genius in the skies. Our push-back at the prebendal essence of what was coming was viewed as a perfect vindication of Jonathan Swift’s defence of geniuses against petty jealousies. They said the president was the “true genius” and we were “the dunces” stupidly in a “confederacy against him.” Money can buy thrones, they cannot sustain them. Reigns are maintained with a fine mix of goodly obedience and sacrifice. It is not enough to conjure crowns and coral beads and be king of money. Being rich enough to be president, governor or minister is a step to genuine success…….  The Tinubu government is buffeted by troubles on all fronts. Its headaches are its unpopular policies, domestic and foreign. I could imagine him and his ardent aides stand askance wondering like the defeated Kurunmi of Ijaiye: Are we truly wrong in these matters? The answer may not get to them so soon as it did Kurunmi with his crashing. And lovers of the president tell us that his errors might be because of his age. But his age is not his problem; his problems are the choices he made (and is making). He should beg his orí inu – his inner head – to tell him what is wrong with his ways.”

Today’s Yorubaland is a very reluctant part of Nigeria. But it is also the most conflicted of the parts. Its goals are difficult to define – even by itself. A friend from the non-Yoruba part of Edo State asked me at the weekend if the serial declaration of today as a public holiday in the South-West was not a step towards self-determination. I laughed. There is actually supposed to be a Yoruba national day but there has been no agreement when it should be. Instead, four of the six states in the South-West are on holiday today in celebration of what they called Ìsèse Day. Outsiders may not understand what this represents; even many of us inside do not know what purpose the Day serves beyond the justice of “what is good for Muslims and Christians should be good for those who are neither.” The truth is, there is a disconnect between today’s Ìsèse Day and majority of Yoruba people’s contemporary concerns and interests.

Should today’s Ìsèse Day be costumed as a competition with Muslims’s Sallah and Christians’ Christmas? Before you say anything, ask what the word Ìsèse means, literally. It means ‘the beginning.’ And, what is the place of ‘the beginning’ in Yoruba’s belief system? That question was asked centuries ago by the elders: kí l’a kókó se ní’fè ká tó s’awo? (what did we consider first in Ile Ife before worship?). Those who asked the question provided the answer: Ìsèse l’a kókó se ní’fè ká tó s’awo (Ìsèse was considered first in Ife before worship). They explained further what makes up the conceptual Ìsèse :
Ìyá eni, Ìsèse ni (one’s mother is Ìsèse ).

Bàbá eni, Ìsèse ni (one’s father is Ìsèse ).
Orí eni, Ìsèse ni (one’s head is Ìsèse ).

We are not focused on celebrating all the above. Instead, the discussions are about how best to do the impossible: alienate Islam and Christianity in Yorubaland. The celebration of something foundationally key as what we are told Ìsèse is should not suffer thematic and functional deficiencies. The excitement that shrieked across the cyberspace over today’s holiday should have concrete contents. But there is none. Instead, what we’ve seen is an Internet buzz punctuated with a full stop. Whose idea is the choice of today as Ìsèse Day? If it is about celebrating the essentialities of Yorubanness, is this hollow holiday all the Yoruba can do? We could start from little but fundamental things. There is a Yoruba anthem inherited from Obafemi Awolowo. The opening lines state the responsibility of every Yoruba person: Isẹ́ wà fún ilẹ̀ wa/ Fún orílè ìbí i wa (there is work to do for our homeland, the land of our birth). The anthem also contains lines of equity and fairness: “Ìgbàgbó wa ni wípé b’áati b’ẹ́rú lab’ọ́mọ” (It is our belief that the freeborn and the slave are born equal). And the closing lines: Ọmọ Oodu’a dìde, bọ́sí ipò ẹ̀tọ́ ò rẹ/ Ìwọ ní ìmọ́lè gbogbo adúláwọ̀ (children of Oduduwa, stand up and take your rightful place (because) you are the light of the black race). Anthems are not fancy songs. We forgot, this morning, to set aside a few minutes to sing that song across Yorubaland and reconnect our orí inú with our heritage of ancestral goodness.

Will it be wrong if we repackage the entire Ìsèse bouquet infusing it with the creative energy of the Yoruba of all faiths home and abroad? The Indian Diwali is celebrated by Indians of all faiths everywhere around the world in remembrance of their victory over forces of darkness. They do it with lit lamps of peace and liberty. What fundamentals of our culture is Ìsèse Day celebrating today? It is not religion. If it is about promoting the artistic parts of our culture and tradition, we have enough to make the holiday worth having. We can reform the form, reinvent content and learn orderly process from outside. The promoters of Ìsèse Day have so much to do beyond competing with Muslims and Christians on the number of days we are officially off work. There is a lot of clean-up to do in form and content for decent people to identify with whatever Ìsèse represents. I witnessed Olójó Day in Ile Ife twice during the reign of Oba Okunade Sijuwade; it was a struggle against law and order. This year’s Òsun Osogbo Festival in Osogbo claimed lives and limbs. The Edinburgh Fringe Festival holds over three weeks every August in the United Kingdom. The British Council celebrates it as “the world’s biggest arts festival” featuring hundreds of “stand-up comedy, dance performances, theatre, art exhibitions, circus, spoken word, opera and much, much more.” There is also the Belfast International Arts Festival which “brings the world’s best and most innovative artists to Belfast every year from across the globe in a celebration of contemporary arts – dance, music, theatre, visual arts, film and music – with an international outlook and artist base.” I won’t be surprised if the Yoruba play major roles in those festivals.

We should also use this day to ask questions about our politics and why things are as they are. Fortunately, the president of Nigeria is from one of the states celebrating Ìsèse. If Ìsèse approximates orí and all it does, then the leader can use today to reset himself. The Yoruba is told to propitiate the orí and let the gods take care of themselves. There are Nigerians to whom Bola Tinubu’s presidency is still a dream. How did he pull it? He became president, then chose his ministers and assigned portfolios in ways that raised queries and asked questions. I have heard and read words demanding why Lagbaja became Tinubu’s minister and why Tamedo got nothing. People who say things like this have probably not heard the story of Ajé, the struggling man who woke up one morning with the ambition to go to Otu Ife and become Olówó (king of money). Ajé knelt before his orí, his Eléda, and prayed to have his wish granted. But he is soon told that life is give-me-I-give-you; what the Romans, in three syllables, elegantly couched as quid pro quo. The Yoruba say ‘bùn mi kí n bùn o’ is Toad’s monologue at the river bank. What the ambitious want from life is always determined by what they give to life. Ajé was told to add two plus three as sacrifice to the Customs and Immigration officers of life. He did as he was told and in three days he became what he said he wanted to become: Olówo, king of money. The world looked at the crowned Ajé and at the unrewarded struggles of his friends and told itself: “ogbón ju agbára.” How do I translate that? Ogbón in Yoruba means wisdom (or is it guile or money?) which trumps agbára (force). Thomas Hardy’s Tess of the D’Urbervilles (page 116) contains a quaint variant of that translation: “‘Tis knack, not strength, that does it.”

It was easy to do difficult things in the days “when faith was a living thing” (Thomas Hardy again!). And, truly, faith used to be a living thing. Ajé’s story is not a stand-alone narrative. In the same country where Ajé reigned over wealth and money, there was the nameless warrior who wanted to climb Ọgẹ̀gẹ̀, the tree of success. He asked his orí and was told that life’s journey to success was a contest with barbed gates and border closures. On the highway of success were dogs that barked and bit; on the road were chickens with beaks that ate the eyes of the ambitious. There were monkeys on that road with finger-nails of death and bulls with poisoned horns. They were the graveyard of all previous attempts at getting to the tree top. The one who would climb the tree of success to the very top must conquer the dogs and the chickens at the barbed gates; he must overcome the monkeys and the bulls enforcing the border closures. If the ambitious would be successful, he must arm himself with lots of bones and bowls of grains; he must have in his pouch lots of banana, and on his head a basket of fodder. In that age of wisdom, obedience was not seen as senior to sacrifice; both slept in the same bed and travelled in the same saddle. ‘Obedience’ was ‘sacrifice’ spelt differently; they were synonyms. The man who would successfully climb the tree of success did everything he needed to do for the road to accept him. Because his orí did not deceive him and his ears heard well, he had something for every enemy that showed up on the way. To the dogs baying for the flesh of his ambition, the candidate reached for his bag and threw bones; to the pesky chickens, he dropped grains; to mischievous monkeys, he fed banana, and for the bulls and their horns of death, ambition’s basket of fodder was the perfect distraction. The man who would climb life’s tree to the top must do as told; and, because he did as told, his road was weaned of the pestilence of the past. His enemies were busy having their feast of freebies while he waltzed to his prize. He got to Ọgẹ̀gẹ̀ and climbed to the top of the tree of success.

The ascendancy of this president was celebrated by his fans as a genius in the skies. Our push-back at the prebendal essence of what was coming was viewed as a perfect vindication of Jonathan Swift’s defence of geniuses against petty jealousies. They said the president was the “true genius” and we were “the dunces” stupidly in a “confederacy against him.” Money can buy thrones, they cannot sustain them. Reigns are maintained with a fine mix of goodly obedience and sacrifice. It is not enough to conjure crowns and coral beads and be king of money. Being rich enough to be president, governor or minister is a step to genuine success. How about what the Yoruba call àtubòtán, the day after? It happened to the Moon with all its glory. The Moon was asked to sacrifice so that he would have peace of mind. Golden moon laughed at the counsel and turned deaf ears to what the Divine asked him to give. And why would he not be proud? He was up there glowing in glory with all creations of the world looking up to him. Then Olodumare sent for him.
“What is it that you want me to do?” He asked his Maker.
“You will henceforth live fifteen days on earth and fifteen days in heaven,” Olodumare told him and it was a decree. The Moon was stunned but it was too late. It was the world’s turn to laugh at the one who was too big to listen. From that day on, Moon would have no peace of mind. He would be living fifteen days in the world; fifteen days in heaven (see Ulli Beier’s Yoruba Myths, 1980, page 3). The Tinubu government is buffeted by troubles on all fronts. Its headaches are its unpopular policies, domestic and foreign. I could imagine him and his ardent aides stand askance wondering like the defeated Kurunmi of Ijaiye: Are we truly wrong in these matters? The answer may not get to them so soon as it did Kurunmi with his crashing. And lovers of the president tell us that his errors might be because of his age. But his age is not his problem; his problems are the choices he made (and is making). He should beg his orí inu – his inner head – to tell him what is wrong with his ways.

You regularly watch your favourite footballer hold his/her head in regret at every goal missed. Before every contest, such player should sing along with Hubert Ogunde: “…If I have good legs, Creator, let me have good head (Bi mo l’ésè ire, Èdá jé n l’órí ire).” Yoruba’s elevation of orí above religion is therefore deliberate. They say it is what vindicates one before the deities do (atètè gbéni k’òòsà tó gbeni). It was the case with Olókun, king of the seas, who was repeatedly told by his peers that he would amount to nothing. He sought counsel from those who had knowledge and was told to appease his head. Olókun did as he was told and our ancestors said he became oyígíyigì ota omi (oyígíyigì, the rock in the waters). University of Ibadan’s Femi Fatoba (2002) celebrates well this victory over failure: “Olókun became rich and prosperous and all the other bodies of water began to flow into it. Whenever Olókun looked at the other priests who said he would never amount to anything, he surged over them and washed them away.” Olókun would not have won without his being true to truth. Tell Tinubu, the ‘ibú’ in his name means ocean depths. He must have heard it said that fish uses its head to wade through the sea bed: orí ni eja fií la ‘bú. So, tell him Abuja is not Lagos. The few who survived there were the ones wise enough to hold their heads firmly.

Another round of tension has gripped the oil industry in the Niger Delta over the renewal of the N48billion oil pipeline surveillance contract awarded to the former leader of the dreaded Movement for the Emancipation of the Niger Delta (MEND), Chief Government Ekpemukpolo, alias Tompolo.

Already, the renewal of the contract had pitched Tompolo against his colleagues involved in the struggle in the region, particularly the leader of the defunct Niger Delta Peoples Volunteer Force (NDPVF), Mujahideen Asari-Dokubo; HRM Ateke Tom; Ebikabowei Victor Ben, alias Boyloaf; Chief Bibopere Ajube, alias Shoot-at-Sight, and an ex-warlord in Imo State axis of the region, Commander Nigeria, among others, across the states of the oil-rich belt.

The multi-billion naira security job awarded to Tantita Security Services, owned by Tompolo in August 2022, is due for renewal by the end of this month, a development which has triggered intense intrigues and maneuvering by some ex-warlords to wrestle it from the former MEND commander.

LEADERSHIP gathered that the ex-militant commanders are strongly opposed to the renewal of the contract as exclusively packaged for Tompolo in 2022.

LEADERSHIP recalls that the contract covers surveillance and protection of oil pipelines, which criss-crossed various oil producing communities in Bayelsa, Delta, Imo, Ondo and Rivers States.

The award of the job to Tompolo was facilitated by former Deputy President of the Senate, Senator Ovie Omo-Agege, former Minister of State for Petroleum, Chief Timipre Sylva and the Group Managing Director of the Nigerian National Petroleum Company Limited (NNPCL), Mr Mele Kyari, in August 2022.

One year later, as Tompolo prepared to approach the management of NNPCL for the renewal of the job, his ex-colleagues were up in arms against him.

The protesting ex-militant commanders are agitating for the splitting of the contract to accommodate divergent interests. There are mounting pressures on the Presidency and NNPCL not to re-award the contract solely to Tompolo and his outfit in its present component.

They vehemently opposed an omnibus contract to be awarded to Tompolo, which would cover places outside his areas of influence in Gbaramatu axis of Warri South West Local Government Area of Delta State.

They insisted that his ambience of operation should be limited to his communities in Delta State, while they are allowed to also operate in their areas.

They rejected the template offered by the embattled warlord to sublet parts of the job to them in their different enclaves, insisting that the package being offered by Tompolo was at variance with his earnings from NNPCL, for the job.

Instead, LEADERSHIP learnt that they were unanimous that the contract be splitted, with its components awarded separately to individual ex-commanders to man their areas of influence.

Already, the aggrieved warlords have protested to the presidency, especially the National Security Adviser, Malam Nuhu Ribadu, and Kyari, apparently to halt the moves to award the contract in bulk to their kinsman.

LEADERSHIP learnt that Kyari reportedly advised the protesters to remain calm pending the inauguration of the Minister of State for Petroleum, Senator Heineken Lokpobiri, who is expected to prepare a memo on the festering issue for the attention of President Bola Ahmed Tinubu.

It was gathered that Tompolo was also having a running battle with his kinsmen and some close associates of Tinubu, who were bent on punishing him for allegedly not supporting the ruling All Progressives Congress (APC) in the 2023 polls.

They accused the ex-militant commander of having supported and heavily funded the main opposition party, Peoples Democratic Party (PDP) within and outside Delta State, in the just concluded elections.

Those opposing Tompolo said he didn’t reciprocate the visit of Tinubu, in company with Kyari and other top party stalwarts to his enclave on Friday November 25, 2022 and the visit of another team raised by the President and headed by Kyari, with Wale and Seyi Tinubu as members of the team, on the eve of the governorship and houses of assembly election on March 17, 2023, to garner votes and support for the governing

However, to starve off any untoward development, Tompolo’s men and foot soldiers were reported to have relocated to Abuja to intensify lobby to retain the status quo in the award of the job.

LEADERSHIP gathered that they have approached Ribadu, Kyari, Chief of Staff to the President, Mr. Femi Gbajabiamila and other influential members of the inner circles of Tinubu, including members of the president’s immediate family, for help.

But despite stiff opposition, investigation by this paper revealed that Tompolo’s bid to renew the job still enjoyed the backing and support of Sylva, who is apparently relying on the former MEND leader for support in the November 2023 gubernatorial election in Bayelsa State, Omo-Agege, who was said to have forgiven Tompolo for not supporting his gubernatorial ambition in the 2023 election and the chief executive of NNPCL.

They were reportedly touching base with powerful links within and outside the Presidency to ensure that Tompolo triumph, taunting and flaunting widely reported ex-militant and his company’s impressive records in the war against crude oil theft and pipeline vandalism in the region, as satisfactory credentials to renew the job.

One of our sources disclosed that the trio in their alibi in favour of Tompolo expressed conviction that renewal of Tantita’s contract would help in consolidating the gains so far recorded in the war against illicit deals associated with crude oil, in the region.

The source said, “The management of NNPCL has been having difficulties in renewing the pipeline surveillance contract given to Chief Tompolo to oversee the security and protection of crude oil pipelines in the Bayelsa, Delta, Imo, Ondo and part of Rivers State in 2022 because his colleagues in the Niger Delta struggle are up in arms against him. They are opposed to an omnibus award of the same contract to him. They are saying that Tompolo cannot protect the pipelines in their areas.

Efforts by our correspondent to get reactions from Tompolo and the management of Tantita Security Services, were futile.

Tantita’s managing director, Chief Keston Pondi and the company’s head, Operations/Intelligence, Captain Warredi Enisuoh, ignored persistent calls and messages to their cell phones, for one week, to secure their reactions to the report.

But a source in Tantita Security Services, who pleaded with this newspaper not to mention his name because he was not competent to speak neither on behalf of Tompolo nor the company, said Tompolo and his lieutenants were not leaving any stone unturned to put issues in proper perspectives.

He said, “Tompolo’s men are in Abuja already to put paid to some lies being peddled against their boss, especially as concerned about his roles in the 2023 elections. Most of what is being said about him are tissues of lies. They are making frivolous allegations about him with a view to ensuring that the contract is not renewed. Come to think of it, what does the outcome of the elections have to do with the award and discharge of a legitimate business? This is purely a business and not politics. As Mr. President said recently, the time for politics is over. It’s now time for governance.

“Tantita has performed excellently in the assignment handed over to it to the admiration of all and sundry. The records of the increase in crude oil production are there in NNPCL and the oil multinationals and we must warn that it would not be in the interest of our economy to sacrifice excellence in favour of mundane arguments.

“We are not losing any sleep in Tantita and even our principal, High Chief Government Ekpemukpolo, alias Tompolo, is not bothered about the so-called gang-up. We have done our best in Tantita in taming the hoodlums draining our economy through illicit crude oil deals and our performance chat is there for everyone to check. We have received accolades from within and outside the country for our efforts in salvaging the nation’s economy. The President, Asiwaju Bola Ahmed Tinubu, that we know very well will not succumb to undue pressures of blackmailers and enemies of Nigeria.

“We have no doubt that the management of NNPCL will take the right steps by renewing the contract to enable us to strengthen and consolidate our efforts in the national interests. Those opposed to us are the oil thieves and their collaborators, whom we have blocked the sources of their ill-gotten wealth,” the Tantita source added.

The group general manager, Public Affairs, NNPCL, Mr. Garba Deen Muhammad, also declined to comment on the report. Muhammad shunned calls and messages sent to him on the subject matter.

Troops of the 4 Special Forces Command, have been called upon to rise up to the renewed security challenges in Niger State.

Commander 4 Special Forces Command of the Nigerian Army Doma in Nasarawa State, Major General Hilary Nzan gave the charge during an operational visit to formations and units under the command in Niger State.

The formations and units under the 4 Special Forces Command Doma where the commander visited include Headquarters 403 Amphibious Brigade, 221 Tank Battalion and 101 Special Forces Battalion all in Niger State.

Addressing officers and men of the command, he urged them to redouble their efforts in tackling insecurity in communities around the North Central part of the country.

He said the Nigerian Army had remained committed toa securing all parts of the country to pave the way for peace and socio-economic development hence the need for the troops to be versatile in their approach to any security threats across the area.

The commander specifically charged them to flush out bandits terrorising Niger from the various forests which served as their abode.

LEADERSHIP reports that several forests linked Niger with states like Zamfara, Kebbi and Kaduna where bandits reigned supreme over the years.

The bandits, it was gathered, besiege the state through the affected forests which they also retreated to after carrying out their nefarious activities.

Security experts had repeatedly called on the federal government to convert the forests to productive use.

Major General Nzan expressed optimism that the troops would end the spate of attacks in the state.

He stressed the need for the troops to uphold professionalism, unity at all times and establish a strong synergy with the civilian public as well as other security agencies in the areas of intelligence gathering and information sharing to ensure success.

While interacting with the wives of the soldiers, he called on the women to be relentless in praying for their spouses to be focused on confronting the bandits and insurgents terrorising most parts of the country.

As part of efforts to ease the burden caused by economic hardship on corps members, Kaduna State Coordinator of National Youth Service Corps (NYSC), Hassan Taura, said the Federal Government has upwardly reviewed their feeding allowance.
  
The coordinator, while fielding questions from journalists, after swearing in the 2023 Batch ‘B’ Stream ‘2’ orientation course, did not specifically disclose which of the allowances was reviewed. 
  
“The Federal Government, in its wisdom, has reviewed the feeding allowance of the corps members,” he said, while responding to the plans to cushion the corps members’ hardship.
  
Promising to prioritise corps members’ welfare in his state, he said: “I told them (corps members) I am going to ensure their food is of good quality and quantity. I told them I will ensure that they won’t spend their money in the camp market. This is the promise I made to them and I am fulfilling them.
  
“I am going to feed them in such a way that they will not spend from their pocket.”

They don’t even have the money; so, it is our duty to ensure we feed them well.” On arrangements by the state government and private organisations to ensure timely payment of stipends of corps members, he said: “In line with our operations of the monthly stipend we pay corps members, we expect their employers, be it state government or private organisations, to pay them some stipend in addition to what Federal Government gives them.”

Abia State Governor, Dr. Alex Otti has confirmed that the state has received N2bn as part payment from the N5bn promised by the Federal Government as fuel subsidy palliative.

He also confirmed the receipt of three thousand bags of rice to be shared among the people of Abia.

The governor who disclosed this while addressing the State Executive Council who are in Aba for a retreat, said his administration will not deceive the people like the previous administration did.

The Federal Government had last Thursday announced the sum of N5bn as palliative to each state of the federation, including the Federal Capital Territory (FCT), to cushion the impact of the removal of fuel subsidy.

Governor Babagana Zulum of Borno State had announced this during an interactive session with State House correspondents in Abuja after the statutory meeting of the National Economic Council (NEC) chaired by Vice-President Kashim Shettima.

Security men drawn from the police, civil defense, state service and military formations in Kwara State were on guard at Yemoja River in Oko Olowo area of Ilorin to prevent security breach in the state.

The river was the initial venue of the botched celebration of the Isese festival by the traditional worshippers.

The operatives were drafted to the spot to prevent a clash between the traditionalists and the Muslims ahead of the celebration of the World Isese Day slated for Monday.

Islamic leaders had rejected the decision to celebrate the event in the Muslim dominated five local governments that make up Ilọrin Emirate.

Although the security men were on alert guiding the river, neither the traditionalists nor the Islam adherents were sighted by our correspondent for several hours during a visit.

Speaking with journalists at the Yemoja River site, the state Commissioner of Police, Mrs Ebbunoluwarotimi Adelesi who led the operation said the heavy presence of security operatives was to keep peace and protect the lives of the people and their properties.

“The security men are here to maintain peace, we are not here to deprive anyone of his or her fundamental human rights. They have been drafted to this place since yesterday to protect the people of the state.

“We have to be at alert as a result of what the two sides are saying. We cannot allow the security and peace of the state to be breached. Kwara State is the state of harmony,” she said.

The police command had earlier advised the traditionalists to stay away from Kwara and relocate the celebration to other states, a decision that was reiterated by the Muslim community in Ilọrin.

The police had said the security report did not favour holding the Isese festival in Ilọrin as initially declared by the International Council of Ifa/Orisa Religions (ICIR).

Indeed Naira, the Nigerian legal tender, has no religion, tribe or tongue. It is common to all of us as Nigerians and foreign nationals whose businesses involve cash exchanges in the Nigerian currency. Anything that happens to the Naira affects everyone who transacts with it. 

As is the case with the currencies of other nations, the value of the Naira is not determined by some gods, prayers or incantations. Nor is it by a group of Nigerian eggheads sitting on a round table to apportion value to it. The Naira’s volatility, weakness, stability or strength is a function of the economic choices we make and the forces of demand and supply. Unfortunately, these two factors have combined and conspired against the Naira now more than in the past.

The Naira has witnessed a steady decline since the Federal Government announced the floating of the Naira. It has lost more than 40% value against the US Dollar within two months of implementation of the policy. This is the most significant drop in its history. As expected, the Naira crisis has caused unprecedented economic uncertainty and hardship in the country. Prices of goods and services have gone off the roof. Fuel price has more than doubled and inflation rate is at an all-time high. Nigerians paying international school fees and medical bills abroad now know that the rich also cry. Everybody in Nigeria is feeling the pinch one way or another.

But the fall of the Naira did not start now. Its tragic history dates to 1983 when it began the nosedive and has not ameliorated till date.

From the 1960s to the 1980s, the Naira was relatively stable against the US Dollar. However, Nigeria faced economic challenges due to fluctuations in global oil prices and mismanagement of her oil resources. In 1983, 1 USD was exchanged for about 72 kobo. But by 1986 when Nigeria implemented a World Bank-induced currency devaluation due to falling oil prices and economic difficulties, the Naira fell to exchanging at about N9 to 1 USD by 1990. The Naira faced further significant devaluation as Nigeria dealt with economic and political instability in the 90s. In the year 2000, 1 USD was exchanged for about N85 at the official window. To stem the decline in its value, the Naira was pegged to the US Dollar for a period; even though removing this peg eventually led to further devaluation. In 2010, 1 USD was exchanged for about N150 officially but not at the notorious black market. In the 2010s, the Naira experienced several devaluations partly due to oil price volatility and economic challenges. By 2020, 1 USD exchanged for about N360 at the official window.

In recent years, the Naira has continued to face challenges related to external factors. These include fluctuations in oil prices and the global economic impact of the COVID-19 pandemic. A few days ago, the Naira fell to an all-time low against the USD by exchanging between about N890-N930 to 1 USD. 

Although I am not an economist, I will  attempt a commonsensical interpretation and critical analysis of the continuous erosion of the Naira value and share some multidisciplinary perspective to the issue. First, let us examine the basics. The exchange rate is a function of factors. It is primarily the demand and supply of forex. The current crisis is principally one of supply. Our forex supply includes oil sale receipts, diaspora remittances and non-oil export proceeds. Oil receipts that depend on international prices have been hampered by factors like oil theft, invoicing and massive corruption in handling government revenue. We export little or no finished goods, given our low manufacturing base. 

Our second source of forex is Diaspora remittances. These have been consistent at about $25bn annually. Foreign Direct Investments (FDI) bring in forex, but these have fallen significantly in recent years. Foreign loans are another source of forex into Nigeria. However, with Nigeria borrowing a lot recently for various projects and stabilising the economy the appetite for foreign loans is low. These sources, put together, are not enough to meet our massive demand for forex.  

The demand side of this crisis is potent. Many factors fuel this considerable demand. The first is that successive poor management of our economy has eroded confidence in the local currency. Nigerians now price goods and services in USD and prefer to hold value in dollars. In addition, the US is the unscripted ‘official’ currency of Nigeria’s vast underground corruption economy. These illicit transactions are of such huge volume that they heavily pressure available dollar cash supplies. It is an open secret that some political payments made during the last election were made in USD, thus creating a scarcity of USD during the election season. Those who got these payments saved the excess in USD, thereby starving the market of Dollar cash. 

For a predominantly import-dependent economy, legitimate import transactions take the form of the import of raw materials, finished goods, invisible and other services. For a population of over 220 million people, legitimate forex transactions are enough to put massive pressure on our external reserves. Those reserves have incidentally been heavily depleted by the recklessness of the managers of the economy in

our recent past who used part of our reserves to hedge against external loans. The alarming reality therefrom is this. Of an advertised foreign reserve of $38bn, only about $18 bn is unencumbered. 

Another point to consider in this demand problem is this. It is made worse by the activities of currency speculators taking advantage of the limited quantity of USD in the system to cause havoc to an already stretched and volatile forex regime. Little wonder the forex crisis was exacerbated with the recent addition of oil subsidy removal and Naira floating policies. Although these policies are good economic policies, their fallout has negatively impacted the forex situation. The merged exchange rate regime converges all forex demand around the parallel market rate and this has remained volatile ever since the policy was implemented. The official market has little or no Dollars to offer hence the recent recourse to an Afrexim bank facility of $3bn to shore up the declining Naira and throw a lifeline to the economy. Even with liquidity in the official market, dealing with forex transactions is still very slow. Banks take weeks or sometimes months before consummating a forex transaction for most Nigerians. Most instant forex demand is in cash at the parallel market rate. This has kept the black market as active as ever, although one aim of floating the Naira is to eliminate the menace of the black market in the forex ecosystem. These failures have kept away some foreign and local investors with forex and made others reluctant to invest. Besides, oil importers need forex at the current rate to sustain imports. 

Other psychosocial factors are enabling the Naira crisis and must be addressed. First, Nigerians have an excessive love for foreign goods and services. Related to it is the fact that we are not producing enough locally and our export is far lower than our import.

Second, our dependence on crude oil for decades has been our bane. Thus, fluctuations in crude oil prices in the international market have continued to keep the Naira very unstable. In relation, there is a nexus between the instability of the Naira, the massive corruption among the elites and concomitant misplaced priorities of the governing class. The opportunity costs of stolen funds are the lost structures and systems of production that Nigeria badly needs now to be productive. We have lost decades that we would have built capacity, created the much-needed physical and knowledge infrastructure and laid the foundation for an industrialised society. We have focused on survival and curbing poverty instead of productivity, innovation and growth which will eliminate poverty. We have been driving looking through the rear view mirror instead of looking forward to creating an industrialised society.

Third, the perception of our country at home and on the global scene is abysmal. Whilst most Nigerians in Diaspora are making great strides, news from Nigeria itself is depressing. We are battling with everything negative anyone can think of. Sadly, it seems we have accepted these things as the norm.

The current forex crisis and fall in the exchange value of the Naira resulted from a combination of all these factors. The task before the government then is to isolate and deal with these factors as clear and present economic challenges, each requiring informed tackling.

Addressing  financial challenges and preventing a collapse of the Naira is a complex process that involves multiple factors. The success of any panoply of measures to tackle the erosion of the value of the Naira also depends on a number of factors . Starting point , the  government should do some of the following: implement some Monetary Policy adjustments; Currency Stabilisation by intervening in the forex market; Fiscal Policy Reforms; Structural Reforms such as reducing corruption and promoting economic diversification; seek external assistance from international financial institutions; promoting export and reducing imports; enhancing Investor Confidence; providing transparent economic policies and strong governance, making stringent efforts to attract foreign investment; giving out clear communication about the steps being taken to address the situation; and tackle speculative activities in the forex market. The war to save the Naira from collapse is our collective responsibility. We must all come together to fight to save our Naira. 

A former member of the House of Representatives, Robinson Uwak, has advised the Economic Community of West Africa States (ECOWAS) including its chair, President Bola Tinubu, to avoid starting war in the Niger Republic following the military coup that ousted President Mohamed Bazoum.

The lawmaker’s call on Sunday followed the ECOWAS’ threat to invade Niger if all diplomatic efforts from international partners fail.

The junta has defied the directives from ECOWAS regarding restoration of democracy and installed a new government made up of soldiers.

Uwak, in a statement on Sunday, advised Tinubu to continue to toe the path of dialogue.

He warned that invading Niger with soldiers can cause irrecoverable crisis and wanton destruction across borders as the country is surrounded by Nigeria and Chad, among others.

He added that the impact of war can cause trauma on respective citizens.

“Let Mr President suspend any talk of military action and sustain the dialogue option as this would yield long term benefits for regional peace and stability within the ECOWAS sub-region.

“The President should take a deep look at the impact of any war with our neighbouring country, the post-traumatic disorders, the severance of cross-border filial relations, the destruction and the injuries may probably not heal. Let us avoid this war by all means,” Uwak stated.

He lauded former Head of State and the chairman of the National Peace Committee, General Abdulsalami Abubakar and the Sultan of Sokoto for agreeing to broker peace between respective countries.

Recall that Tinubu had approached the Nigerian Senate for approval to send troops to Niger Republic despite imposing economic sanctions on the country.

But the lawmakers rejected Tinubu’s request.

Amid the development, the junta has vowed to remain in power for three years before permitting a democratic election.