Yet, if Yenagoa was Nigeria’s chaos capital, it didn’t show in the voice of Esueme Dan-Kikile, the general manager corporate affairs of the Nigerian Content Development and Monitoring Board (NCDMB), who never once wavered in his commitment to me to read my book there.

When anxiety and prejudice nearly prevailed, I yielded to Dan-Kikile’s reassuring calmness and my nagging curiosity for adventure. 

After 19 years of mental pictures, mostly from unflattering news reports, I decided to face the demon. By a quirk of fate, I used the longer route – Warri to Yenagoa. What a trip this second missionary journey turned out to be!

If a picture is worth a thousand words, one travel mile is worth two thousand. Words sometimes fail to describe the joys and excitement of new faces, places, sounds, and smells of travel. 

Jonathan was “king”

The last time I visited, former President Goodluck Jonathan was governor. The state was nine years old, and there was only one road in and out of the capital. 

Bayelsa, located in southern Nigeria, edges the Atlantic Ocean. It was the hotbed of militancy by youths who, sometimes at the behest of politicians, took hostages for ransom and blew up oil and gas pipelines as bargaining chips. Its people are mostly fishermen and farmers whose environment and toils have been ruined for decades by oil spills and the ravages of gas flaring.

This visit felt different from when I landed at the airport in Warri, Delta State, for the three-and-a-half-hour drive to Yenagoa. 

The East-West Road

After over N350 billion and 18 years, the construction of the East-West Road, highway to the six states in the Niger Delta region and gateway to the East is still on. They say it would take nearly three times that amount, and God knows how long to finish. 

This was what Senate President Godswill Akpabio said four years ago when he was Minister of the Niger Delta Affairs – that the road, which NDDC was handling under his supervision, would cost about N1 trillion naira to complete.

Large portions of it were still impassable as of last week. Where you could drive freely for a mile or two, you had to look out for barricades and sand-filled drums at makeshift checkpoints where the security men and local youths appear to have agreed on a joint approach and a standard extortion formula. 

“Tollgate ahead, off the mic!”

If this sounds confusing, you haven’t heard the more confusing part. Extortion doesn’t only happen on the highway. Four years ago, just before Akpabio said the East-West Road might cost N1 trillion to finish, a “tollgate” was mounted for him inside Nigeria’s parliament in Abuja.

A joint session of Nigeria’s Senate and House of Representatives was conducting an audit of the NDDC, and the Commission had not completed the East-West Road after many years and billions of naira spent. As Akpabio proceeded to open the can of worms after hinting that the contracts for the road were awarded to companies belonging to his interlocutors, the committee chairman and current Minister of Interior Olubunmi Tunji-Ojo interjected: “Off your mic! Honourable Minister, it’s OK, off the mic!”

That interjection became the national joke for killing any potentially embarrassing thing that should be said. Talking too much is against the convention at any tollgate – whether in Abuja or on the East-West Road. Off the mic, pay the toll, and move.

Akpabio, an accomplished toll collector, should have known the tradition. According to a NEITI report in 2013, the NDDC received about N400 billion between 2007 and 2011, which is almost one-quarter of its 20-year existence. If the Commission were a state with a revenue of N168 billion in 2011, for example, it would be the sixth highest earning in the country, displaced only by Lagos, Akwa Ibom, Bayelsa, Delta and Rivers. 

Yet, as the car taking me to Yenagoa drove by, the most prevalent evidence that the Commission is working on the East-West Road is the enormous square slabs, each engraved with its name erected shamelessly within every two kilometres or so. It would be a surprise if this work is finished in another 18 years, even if Nigeria robbed a Chinese bank for N1 trillion.

Waterfront and petrol queues

After nearly three hours of driving, we finally arrived in Yenagoa, turning off at the Yenagoa-Mbiama part of the East-West Road at Igbogini Junction onto Glory Drive. The driver said the new road was constructed last year. The one-road state capital had a new access road, which I later learned was the third.  

In Yenagoa, the makeshift food shops on wooden stilts at the waterfront at the end of Alamieyeseigha Road, just a stone’s throw from the imposing Content Board Tower, were great. The food, smell, neon lights, music, and the energy of the solicitous food vendors courting mostly young customers were hard to resist. 

The place reminded me of Tampa Bay in Florida – if, for a moment, from behind any of the wooden shacks, you looked far beyond the large waterweeds and abandoned wooden canoes at the shore to the Ocean just at the horizon. 

On our way to the venue of the book reading at Golden Tulip the next day, we saw long queues of vehicles snaking for miles from a nearby NNPC filling station where drivers were waiting to buy petrol. 

It’s heartbreaking that residents in this state, home of Oloibiri, where crude oil was first discovered in Nigeria and home to the country’s fourth highest concentration of oil wells, must go through this to buy petrol. My driver said drivers unable to buy petrol the same day would leave their vehicles at the station and return the next day. They are used to it. I shook my head.

Read the book!

The book reading was electrifying. It was attended by a fine collection of students from four universities in the state with their teachers. Accomplished writers and professionals from other walks of life were present, too. The audience’s enthusiasm and determination to seize the moment for their own good were remarkable. 

Dan-Kikile spoke from the heart about NCDMB’s passion for upskilling capacity at institutional and individual levels; the moderator, Dr. Doubra Timi-Wood of Channels TV, made the reading a shared moment of intimacy, and the audience loved it. 

The cure for my lethargy was facing my fears. I’m glad I did.

China’s President Xi Jinping has committed $50 billion in financial support and promised increased military cooperation to Africa over the next three years.

Speaking at the Forum on China-Africa Cooperation in Beijing, Xi outlined his vision for strengthening ties with the continent, which he declared is experiencing its most favorable period in history.

In his 10-minute speech, Xi outlined ten key areas for future cooperation, including infrastructure connectivity, trade, security, and green development.

The focus on green technology aligns with China’s broader goal to expand its export of green technologies, reflecting its evolving strategic interests. Xi proposed elevating diplomatic relations with all African nations to a strategic partnership level, a move he believes will mark the apex of China-Africa relations CNN first reported.

Some context 

The substantial $50 billion pledge includes a mix of credit funds, assistance, and private investment from Chinese firms.

This new commitment surpasses the $30 billion pledged three years ago and, while lower than the $60 billion pledged in 2015 and 2018, it aims to reaffirm China’s dedication to the continent. In addition, Xi announced another $280 million in aid, split evenly between military and food assistance.

The $140 million allocated for military aid is the largest sum earmarked for this purpose at the Forum to date, signaling a heightened focus on security in the bilateral relationship.

The Forum, which includes leaders such as South Africa’s Cyril Ramaphosa, Kenya’s William Ruto, and Nigeria’s Bola Tinubu, comes at a critical juncture. The event highlights China’s ongoing strategic interest in Africa amid increasing competition from the US and Europe. Xi’s speech and pledges are seen as part of China’s effort to counter Western influence and secure its position as a rising global power.

What to know 

Xi also stressed the importance of China and Africa working together to address global challenges such as conflict, climate change, and the geopolitical rivalry over critical minerals. South Africa’s Ramaphosa praised China’s “solidarity” with Africa, emphasizing the continent’s hope and opportunity amidst these global challenges. “These challenges affect all nations but are more often severely felt on the African continent,” he said.

However, there are concerns about how Xi’s pledges will align with the expectations of African leaders and the practicalities of implementing these promises. Analysts have pointed out difficulties in tracking the fulfillment of past commitments, which could complicate the assessment of this new pledge. Beijing’s extensive past investments, particularly under the Belt and Road Initiative, have faced criticism for contributing to debt burdens in several African nations. While Xi did not address these debt issues directly, the current pledge is seen as a strategic maneuver to underscore China’s continued commitment amid growing global competition.

Xi’s emphasis on security cooperation, including a promise to train 6,000 military personnel and 1,000 law enforcement officers, reflects Beijing’s broader ambitions in Africa. This push for greater security ties comes as China seeks to expand its strategic partnerships in a region that has become increasingly important to its geopolitical and economic goals.

[Nairametrics]

In the vast jungle of the English language, few creatures have made as much of an impact as the monkey. These clever, mischievous animals have left their mark on our everyday expressions, with idioms that have evolved from the branches of ancient wisdom to the urban landscape of contemporary speech. Taking a playful swing through some of the most popular monkey-inspired idioms and seeing how they continue to express our quirks, behaviors, and societal observations today is quite revealing.

When you hear “Monkey Business,” you are likely picturing some sort of shady or mischievous activity. The phrase conjures images of primates up to no good, and that is exactly what it means. Originating in the early 20th century, this idiom has evolved to describe any activity that is suspicious, dubious, or just plain silly. In today’s context, it is often used to describe underhanded tactics in politics, business, or even social media trends that seem more about show than substance.

In a similar vein, “Monkey See, Monkey Do” is another idiom that surrounds monkey’s behavior. This idiom perfectly captures the human tendency to mimic others, often without understanding the underlying reasons. It traces back to the way monkeys imitate human actions, a behavior that is both endearing and frustrating. In contemporary usage, “Monkey See, Monkey Do” is often invoked in discussions about social media trends, where viral challenges or fashion crazes are adopted by masses without much thought, proving that, in many ways, we are all just monkeys at heart.

Still in the same vein is, “Don’t Monkey Around”. We have all heard this one, usually when we are taking something too lightly or causing unnecessary chaos. “Don’t monkey around” is a directive to stop fooling around and get serious. Whether it is a parent scolding a child or a manager urging employees to focus, this idiom has swung through time as a universal call for order in the midst of potential mayhem.

“Monkey On Your Back” is another idiom which refers to a burdensome problem or addiction that one cannot shake off. It is a vivid image—picturing a monkey clinging to someone’s back, making every step harder. Today, “A monkey on your back” is often used in discussions about personal struggles, from the relentless pressure of work to the battles with addiction or bad habits. It is a reminder that some challenges cling tight and are tough to shrug off.

Also is “More Fun Than a Barrel of Monkeys”, which is a curious one. The idea of a barrel filled with monkeys sounds chaotic, but also undeniably fun. This idiom dates back to the 19th century and was likely inspired by the antics of circus monkeys. Today, it is used to describe anything particularly enjoyable, although sometimes with a hint of irony, like when someone sarcastically refers to a boring event as being “more fun than a barrel of monkeys.”

Still in a similar vein is “monkey wrench” which does not refer to a literal tool in this context, but rather an obstacle thrown into plans, causing disruption. The idiom is widely believed to have stemmed from the tool itself, which was named after its inventor. Today, it is commonly used in phrases like “throw a monkey wrench in the works,” signifying unexpected complications that disrupt progress. In the fast-paced world of tech startups or even in romantic relationships, one little “monkey wrench” can lead to major setbacks.

Also in a similar vein is “Cold enough to freeze the balls off a brass monkey”, which is a phrase that might make you chuckle, but it actually refers to something incredibly cold. Though its origins are debated, with some tracing it to naval jargon, it has become a colorful way to describe bitterly cold weather. Despite its questionable historical accuracy, the idiom still pops up in conversations and social media posts whenever the mercury drops.

In fact, there is “Cheeky Monkey” among idiomatic expressions that originated from the behaviorism of monkey.  This playful idiom is typically used in British English to describe someone who is being impudent in a charming or amusing way. The phrase “cheeky monkey” is often applied to children who are being mischievous but endearing, or even adults who dare to push boundaries with a wink and a smile. It is the perfect blend of affection and mild reprimand, capturing a timeless human behavior.

Without a doubt, Monkey-inspired idioms have truly stood the test of time, swinging from the vines of ancient culture to our modern-day vocabulary. They capture the essence of human nature, our mischievousness, our tendencies to imitate, our struggles, and our humor. So, next time you find yourself monkeying around with words, remember that you are part of a long, proud tradition of linguistic playfulness that is as lively as a barrel of monkeys.

Nigeria, a nation blessed with abundant resources and a vibrant population, remains mired in a cycle of poor governance that has persisted for decades. The question on the lips of many Nigerians is, “Will it ever get better?” The struggle to break free from the chains of corruption, mismanagement, and ineffective leadership is a journey that seems to have no end in sight.

Since Nigeria’s independence in 1960, successive governments have come to power with promises of change and development. Yet, these promises have often turned into mere rhetoric, leaving the masses disillusioned and frustrated. From military regimes to democratic administrations, the narrative has been alarmingly consistent: leaders who ascend to power with grand visions often lose their way, entangled in the web of corruption and personal gain.

The military era, marked by coups and counter-coups, was a time of instability and repression. While some may argue that there were brief moments of progress, the overall impact was one of stagnation and decline. The return to democracy in 1999 was heralded as a new dawn for Nigeria, but the years since have shown that the challenges of governance are deeply rooted in the fabric of the nation’s political system.

Corruption remains one of the biggest impediments to good governance in Nigeria. It is a cancer that has eaten deep into the country’s institutions, from the highest levels of government to the grassroots. Despite the establishment of various anti-corruption agencies, such as the Economic and Financial Crimes Commission (EFCC) and the Independent Corrupt Practices Commission (ICPC), the scourge persists. The lack of accountability and transparency in public office has made it nearly impossible for the government to function effectively.

The alleged financial misappropriation in several government agencies has further eroded public trust. The siphoning of public funds meant for development projects into private accounts has left critical infrastructure in a state of disrepair. Roads, schools, hospitals, and other essential services are grossly underfunded, leaving millions of Nigerians without access to basic amenities.

At the heart of Nigeria’s governance crisis is a deficit of visionary leadership. The nation’s political landscape is dominated by individuals who prioritize personal interests over the common good. The concept of public service, which should be the cornerstone of governance, has been relegated to the background. Instead, politics has become a means to wealth accumulation, with little regard for the welfare of the people.

This leadership vacuum is evident in the way policies are formulated and implemented. In many cases, government initiatives are poorly conceived and hastily executed, leading to minimal impact on the ground. The disconnect between the government and the people is palpable, with many citizens feeling that their voices are not heard or valued.

Despite the bleak picture, there are glimmers of hope. Civil society organizations and a growing number of young, politically conscious Nigerians are beginning to demand more from their leaders. The rise of social media has also provided a platform for citizens to hold their government accountable. However, these efforts are often met with resistance from entrenched political elite that is unwilling to relinquish power.

The recent #EndSARS, and #EndBadGovernance protests which called for an end to police brutality and bad governance, respectively, were a testament to the potential for change. Although the movements were brutally suppressed, but despite that, they collectively sent a strong message that Nigerians are no longer willing to accept the status quo. The question now is whether this momentum can be sustained and translated into tangible change at the ballot box.

In fact, for Nigeria to achieve good governance, a fundamental shift in the political culture is required. This involves not only holding leaders accountable but also fostering a culture of integrity and public service. It requires a judiciary that is independent and fearless, a legislature that is truly representative of the people, and an executive that is committed to the rule of law.

Against the foregoing backdrop, it is germane to opine in this context that education and civic engagement are crucial, and that citizens must be informed and empowered to make choices that reflect their interests, even as voter apathy, driven by years of disenchantment with the political process, must be addressed if true democracy is to take root in Nigeria.

Be that as it may, it is expedient to state the fact that the road to good governance in Nigeria is long and fraught with challenges, but it is not an impossible journey. While the past and present may paint a grim picture, the future holds the possibility of change. It will require collective effort, determination, and a willingness to confront the issues that have held the country back for so long. The question remains: will Nigeria rise to the occasion, or will the cycle of poor governance continue? Only time will tell.

In 1 Kings 12:11, the words “My father laid on you a heavy yoke; I will make it even heavier. My father scourged you with whips; I will scourge you with scorpions” echo the experiences of Nigerians today. This biblical passage serves as a fitting metaphor for the situation under President Bola Tinubu’s administration, which has seen the intensification of economic hardship, following in the footsteps of his predecessor.

During the administration of former President Muhammadu Buhari, Nigerians groaned under the weight of economic instability, high unemployment, rising prices, and insecurity. The heavy yoke was felt across the country, but many hoped that a change in leadership would ease their burdens. Instead, the reverse has happened.

Since taking office, President Tinubu has introduced policies that have further exacerbated the suffering of the average Nigerian. The removal of subsidies and the resultant skyrocketing fuel prices have worsened inflation, deepened poverty, and pushed even more families below the poverty line. Nigerians who once struggled under Buhari’s “whips” now feel they are being “scourged with scorpions” as Tinubu’s economic measures have led to a rise in the cost of living that seems unbearable.

This biblical imagery is not an exaggeration. With the currency’s value plummeting, the cost of basic goods and services soaring, and the country’s debt swelling, the average Nigerian is reeling from the impact of these policy decisions. Just as the scourging of whips and scorpions implies escalating punishment, many citizens are questioning when, if ever, the burdens will lessen.

Instead of a respite, the Tinubu-led government has turned the screws tighter, leaving many Nigerians wondering if they will ever see relief. Where Buhari’s government was seen as difficult, Tinubu’s is seen as crushing. The “scorpions” of higher high costs of virtually all goods and services due to unprecedented rising rate of inflation, and economic uncertainty sting deeply, leaving an indelible mark on the nation’s psyche.

This biblical parallel speaks volumes about the unending cycle of hardship in Nigeria. Will there be an end to this scourging? Nigerians are left waiting and hoping for the leadership that will finally lift their burden, not add to it.

As in the scripture, there is a warning. Leaders who continue to lay heavier burdens on their people without a clear path to relief must recognize that the consequences of such actions may be far-reaching. It is time for the Nigerian government to reassess its direction and truly address the suffering of its people, before the scourging becomes unbearable.

At this juncture, it is expedient to urge President Tinubu to free Nigerians from the scourge of economic hardship as the burden is increasingly becoming unbearable by each passing day.

Since he took the reins of leadership in May 2023, Nigerians have found themselves grappling with a new level of economic hardship. While the nation had long been accustomed to challenging times, the current situation has escalated to a point where daily survival for many is becoming nearly impossible. The policies and economic measures rolled out by this administration, though intended to stabilize the economy, seem to be deepening the suffering of ordinary Nigerians.

From fuel subsidy removal to soaring inflation, Nigerians are now facing a cost of living that has reached unprecedented levels. The price of basic goods, transportation, and housing has skyrocketed, making everyday life unaffordable for millions of citizens. Food prices, in particular, have surged, with staples like rice, beans, and cassava, the very foundation of Nigerian diets, becoming luxuries for many. While the rich may find ways to navigate these challenges, the masses, who form the backbone of the country, are suffering in silence.

A quick trip to any market in Lagos, Abuja, or any of Nigeria’s other bustling cities will reveal the growing frustration. At a market in Ogba, Ikeja, Lagos, a woman named Iya Wale lamented, “Shebidem tell us say cassava, ewa and agbado go cheap wen we vote for them, today we nor fit buy dem for market.” This echoes the sentiment of many Nigerians who feel betrayed by the promises made by the current administration.

As if that wasn’t enough, the national currency, the naira, has plummeted, making imports even more expensive and compounding the problems for local businesses and consumers alike. The ripple effect has spread across all sectors, from healthcare to education, leaving many Nigerians to be groaning under pricey goods and services.  The hardship is no longer a mere inconvenience; it has become an existential threat.

In a nation where unemployment rates are already high and where businesses are struggling to keep their doors open, the situation is quickly becoming a recipe for disaster.

While it is true that Tinubu’s government has inherited some of these challenges from previous administrations, it is also clear that the current trajectory is unsustainable. More than ever, Nigerians need relief. They need policies that will ease their burden, not ones that will intensify it. It is not enough to make lofty promises or announce palliative measures that fail to reach the intended beneficiaries. Concrete steps must be taken to address the root causes of the economic crisis.

First, there is a need for strategic intervention in key sectors like agriculture, energy, and manufacturing. Nigerian farmers, for instance, should receive robust support to boost local food production, which will help reduce the dependence on imports and lower food prices. Additionally, the government must urgently address the power supply issues that cripple businesses, ensuring that industries can thrive and provide jobs for millions of unemployed youths. Though, in Lagos, electricity supply is improved, and therefore the progress should be improved.

Second, Tinubu’s administration must work towards stabilizing the naira and curbing inflation. A combination of sound monetary policies, fiscal discipline, and transparency in governance will go a long way in restoring confidence in the economy. The Central Bank of Nigeria (CBN) and the Ministry of Finance must act in concert to reduce the current economic volatility.

Third, social welfare programs should be revamped to ensure that the most vulnerable in society receive the help they so desperately need. The distribution of palliatives, be it cash transfers or food supplies, must be transparent and efficient. Every Nigerian should feel the impact of government intervention, not just a select few.

Finally, there must be an immediate dialogue between the government and key stakeholders, including labor unions, civil society organizations, and the business community, to chart a way forward. The current approach of implementing economic policies without meaningful consultation will only lead to further alienation of the people.

President Tinubu, you came into office with a vision for a better Nigeria. While it is true that nation-building is no easy task, the current hardship is too much for ordinary citizens to bear. Nigerians are resilient, but they are not invincible. If the current economic direction is not corrected, the consequences could be dire, not just for the citizens, but for the stability of the nation as a whole.

The time for action is now. Nigerians are pleading for relief from the scourge of economic hardship. They are calling on you, their president, to hear their cries and deliver on your promises of a better future. Leadership is not just about making tough decisions, but about ensuring that those decisions uplift the lives of the people. Tinubu, the people are waiting. Free Nigerians from this unbearable burden that finds expression in 1 Kings 12:11, with its inherent words that say, “My father laid on you a heavy yoke; I will make it even heavier. My father scourged you with whips; I will scourge you with scorpions”

Victor Osimhen’s transfer to Galatasaray has ignited a significant surge in the Turkish club’s social media following. The reigning African Footballer of the Year officially joined Galatasaray on a season-long loan from Napoli for the 2024/25 season on Wednesday, after the Italian club agreed to a loan move.

Osimhen‘s arrival has not only bolstered Galatasaray’s presence in European football but has also significantly boosted the club’s social media profile.

Since the announcement, Galatasaray’s X account (formerly Twitter) has gained over 100,000 new followers, surpassing the one million mark from its initial 920,000 followers.

This rapid growth underscores Osimhen’s influence as one of Africa’s most prominent footballers and highlights the excitement surrounding his move to Turkey.

The Nigerian striker received a hero’s welcome in Istanbul on Monday night, with thousands of passionate Galatasaray fans gathering at the airport to greet him with cheers and chants, creating a memorable moment that set the tone for his loan spell.

The 25-year-old’s move to Galatasaray followed a dramatic transfer saga that saw a potential move to Chelsea collapse on deadline day. Despite a lucrative offer from Saudi Arabian club Al Ahli, who were willing to pay Osimhen a staggering €30 million per year for four years, the Nigerian star chose to continue his career in Europe, leading to his loan move to the Turkish club.

Osimhen’s presence in Turkey has already begun to make waves both on and off the pitch, bringing excitement to Galatasaray and their fervent supporters.

[BusinessDay]

The Nigeria Labour Congress (NLC) has said President Bola Tinubu must keep his promise during the last negotiation on minimum wage that fuel prices will not be increased.

The NLC Head of Information Department, Benson Upah, said the organized labour knew that ₦70,000 minimum wage was not ideal, but they wanted to avoid fuel price rising to ₦2,000 per litre.

“We knew ₦70,000 was not ideal for the average Nigerian, but we had to make a deal, expecting President Tinubu to keep his word,” Upah said.

In an interview, on Wednesday, with Arise TV, NLC advised Nigerians to give labour time to process decisions that would come from its different organs.

He said, “Well, we have not said we are going on strike. I would want you to read our statement carefully. We said the appropriate organs of the Congress will need to take appropriate decisions, and those decisions will be made public. So I would want you to be patient to see whether a strike will be one of them.

“But let’s assume that a strike is an option. Our strike is the least harmful, as effective as a strike can be. Our strikes are essentially to wake the government up and point in the right direction. When other Nigerians strike, the difference is always clear. You remember Endsars? You remember the last strike? I mean, the end hunger protests. You remember that?

“But I tell you this, what we are sensitizing government to is the possible consequences of a people outrage, the outrage of Nigerians, because they have had it up to neck. And government must realize this fact. You see, it is wanting to talk about extreme right-wing market policies. It is another thing to implement them and diligently too.”

Benson Upah explained that President Tinubu chose an extreme right-wing market policy approach, but failed to adopt social security measures that go along with extreme right-wing market approach.

He decried that Nigerians pay for everything that government should provide and the government has shown no interest in living up to its social welfare responsibility.

“For the entities that implement extreme right-market policies, the way Mr. President is doing, they carry something on the left hand. They mitigate the harsh effects of those right-wing policies. You have social protection policies dealing with job losses, dealing with health insurance, dealing with energy, dealing with particularly other aspects of life. And this manages resentment, dissolution and uprising.

“But here we have a country where you do not have anything called social protection. Everybody is on their own. Even right-wing issue providing light and security, you are on your own. And government is carrying on as if it does not owe us an obligation. It is deceiving itself,” Upah added.

[NaijaNews]

With today, September 5, 2024 being the deadline given by the Corporate Affairs Commission (CAC) for banking agents, known as Point of Sale(POS) operators to register their activities or face prosecution, the Association of Mobile Money and Bank Agents in Nigeria (AMMBAN) has challenged the directive in court.

Recall that the federal government through the Corporate Affairs Commission (CAC) had issued a two-month registration deadline for POS companies, to register their agents, merchants, and individuals with the commission in line with legal requirements and the directives of the Central Bank of Nigeria (CBN).

This new directive came against the backdrop of frequent fraud incidents involving POS terminals and plans to stop trading in cryptocurrency or any virtual currency by the CBN.

According to a report by the Nigeria Inter-Bank Settlement System (NIBSS) Plc, POS terminals accounted for 26.37 per cent of fraud incidents in 2023, according to fraud. CAC said the move would curb fraud in the system, kidnapping and payment of ransoms.

The national general secretary, AMMBAN, Oluwasegun Elegbede, in an interview with LEADERSHIP, argued that the registration requirements imposed by CAC, violated the provision of the Companies and Allied Matters Act, Laws of the Federation of Nigeria, 2004, which “explicitly states that the commission has no jurisdiction over individuals not operating as a company.

“According to section 863(1) of the Companies and Allied Matters Act, 2004, the order to enforce CAC directive on individual PoS agents operating under their name is wrong and will be challenged, as it contravenes the Companies and Allied Matters Act, Laws of the Federation of Nigeria, 2004, which explicitly states that CAC has no jurisdiction over individuals not operating as a company.

“The matter is already in court and the court has scheduled this September for hearing. The court will have to intervene in the interpretation of the quoted section of the CAMA if individuals operating as a sub-agent (likened to a bank branch) must register with CAC,” Elegbede added.

Speaking on the concerns raised by CAC, Elegbede said, fighting crime is beyond the jurisdiction of CAC, adding that AMMBAN, in collaboration with law enforcement agencies, is curbing the prevalence of fraud in the industry.

“Every POS operator has a BVN/NIN, so they are all traceable. We can trace them through NIBSS, as no operator can have a POS without NIBSS knowing. We can  trace them with their SIM cards.

We can also trace them to the company/bank that issued the POS machine to them. So, there is no hiding place for operators, if they default,” he added.

The national general secretary emphasised the critical role that mobile money agents play in driving financial inclusion across Nigeria, particularly in rural areas where traditional banking services are scarce.

Speaking on the impact of the registration on members, he averred that CAC registration cost nothing less than N35,000, adding that, some of their members do not even have that figure as capital. “These are young people trying to make a living for themselves. Imposing N35,000 on them could potentially cripple the operations of many small-scale agents across the country.

“While we understand the need for regulation, it is essential that such measures do not stifle the growth of the sector or place undue burdens on small business owners. We are confident that the court will recognize the merit in our case,” he stated.

Meanwhile, LEADERSHIP  findings show that many of the operators have been complying with the directive.

This is even as the association of PoS Operators say they are still awaiting the outcome of the court case on the matter.

Findings showed that many POS operators had registered as some of the financial service providers had created a way to make it easier to make registration with CAC.

A POS operator, Akeem, who uses a terminal provided by Opay said he had been able to register through the financial service provider.

He explained that he had been able to register online with the help of area coordinators sent by Opay at a sum of N19,000.

The same procedure had applied for POS operators who are using the Moniepoint terminals.

A poultry products retailer in Lagos, Kemisola, while speaking to  LEADERSHIP  said her financial services provider had blocked the terminal with her business name because she had not registered it with the CAC. However, she continues to use the terminal that is attached to her personal account.

“I use my personal account now. How much do I make from the sales that the government is requiring that I register. I got the POS because of the issues we faced last year during the cash scarcity and to make it easier for my customers to make payment without cash. I still pay charges on this POS and customers don’t want to pay the extra charges.

“If they block one of my personal accounts, I will just revert to collecting cash only because even transfers are not that reliable. There is a fake alert and sometimes payment reverses when the transfer is done.” she explained

many POS operators had registered as some of the financial service providers had created a way to make it easier to register with the CAC.

According to a POS operator, Akeem who uses a terminal provided by Opay, said he had been able to register through the financial service provider.

He explained that he had been able to register online with the help of area coordinators sent by OPAY at a sum of N19,000. The same procedure had applied for POS operators who are using the Moniepoint terminals.

[Leadership]

The latest hike in the price of petrol has pushed up transport fares by over 50 percent in major cities across Nigeria, findings by Daily Trust have revealed.

The newest price hikes, implemented by the Nigerian National Petroleum Company’s (NNPCL) Retail Management, range from N855 to N897 per litre, depending on the location, from the previous N568-N617.

Independent marketers have adjusted their prices to between N930 and N1,200 per litre of petrol.

The price hike has had a widespread impact, with some Nigerians resorting to long-distance trekking and others missing work due to the higher transportation costs.

The pan-Yoruba socio-political organisation, Afenifere and the Peoples Democratic Party (PDP) on Wednesday joined the Nigeria Labour Congress (NLC) in demanding reversal of the increase in the petrol pump price.

This is even as the Manufacturers Association of Nigeria (MAN) warned that the price hike could lead to higher inflation.

Also yesterday, the National Association of Nigerian Students (NANS) announced plans to protest and shut down major cities from 15th of this month.

Abuja, Lagos commuters express frustration

Commuters in the Federal Capital Territory (FCT), Lagos and other states yesterday expressed frustration over the hike in the price of petrol which, according to them, has constrained their living conditions.

Many of them, who spoke to our correspondents, said the unaffordability of transportation cost had forced them to trek to work.

Adeolu Segun, a civil servant residing in Zuba, Abuja, said the fare from his area to Berger had risen from N1,000 to N1,500.

Mrs. Zainab Ibrahim, a mother of six living in Kubwa, said she paid N1,000 as fare as against the previous N500 for the same route.

Ismaila Danjuma, the Secretary of the Zuba branch of the National Union of Road Transport Workers (NURTW), explained that the rise in transport fares was due to the fuel price hike.

A passenger, Murjanatu Shehu, who was travelling to Kano from Abuja, said the fare rose from N8,000 to N11,000.

Haruna Yakubu, a driver on the Abuja-Lokoja route, confirmed fare increase from N4, 500 to N6,000; and Abuja-Okene routes fare rose from N6,500-N10,000.

Lagos bus drivers, Ojo Jamiu and Chukwuka Ogwu, said they now charge more than double as fares.

Kano, Rivers residents trek

In Kano and Port Harcourt, residents resorted to trekking.

Yakubu Isa, who said he used to pay N200 to go to Kano Guest Inn from Kwana Hudu, could not afford the new N400 fare, but had to trek. A teacher in Kano, Maikudi Haliru, also said he trekked to school to avoid the higher tricycle fares.

Our correspondent observed a low turnout of passengers at the Kano Line Motor Park yesterday as fares for the Kano-Kaduna and Kano-Abuja routes had risen to N6,000 and N12,000 respectively.

Some residents of Port Harcourt, Rivers State, also said the latest increase in transport fares had forced them to trek.

In Ondo State where transport fares have also doubled, residents said it would be better to trek a few distances to their workplaces.

In Jalingo, the Taraba State capital, tricycle fares have been increased by 50 percent; while same rose in Borno and Yobe states by 30 per cent.

Inflation figures may go up – MAN

The Manufacturers Association of Nigeria (MAN) has said that the new price of petrol might push inflation figures high, impacting household budgets.  It also said Small and Medium-scale Enterprises (SMEs), which often operate on thin margins, could be hard hit by the development.

The MAN, in a statement by its Director-General, Segun Ajayi-Kadir yesterday, enumerated the impacts of the petrol price hike.

“So, in terms of what the impact might be and judging from what we have witnessed in the past, the cost of transportation may increase, and so would the prices of goods and services. As the cost of petrol rises, consumers will spend more on transportation and energy, leaving them with less disposable income.

“This decrease in purchasing power may lead to reduced demand for non-essential goods and services, affecting businesses across various sectors. These are pointers to the high possibility of a rise in inflation figures, impacting household budgets,” the DG said.

We’ll shut down major cities – Students

The National Association of Nigerian Students (NANS) has announced plans for a “large-scale” shutdown of all major cities in Nigeria over the fuel price hike, starting from September 15, 2024.

In a notification sent to students yesterday, Okunomo Henry Adewumi, President of the NANS’ Senate, demanded immediate reversal of the fuel price hike and the removal of Mele Kyari, the Group Chief Executive Officer of the NNPCL.

The statement said that the protest will be conducted peacefully and in accordance with the law.

Meanwhile, another faction of the NAN yesterday debunked the claim that the student union was planning a nationwide shutdown of major cities.

Akinteye Babatunde, the association’s factional Senate President, in a statement, said NANS did not announce nor endorse any such protest, describing the claim as baseless.

Afenifere, PDP demand pump price hike reversal

The pan-Yoruba socio-political organisation, Afenifere, yesterday urged the federal government to direct the NNPCL to reverse the increase in fuel pump price.

Afenifere asked the government to stick to the claim by the Minister of State for Petroleum, Heineken Lokpobiri, that it did not instruct the increase.

In a statement signed by Jare Ajayi, the spokesman of the Afenifere’s faction loyal to Pa Reuben Fasoranti, the group, said that Nigerians are currently going through a lot of challenges as a result of biting socio-economic crunch and the attendant hardships.

“It is therefore a wrong time to come up with any policy that will increase the undesirable challenges Nigerians are going through presently. Failure by the NNPCL to reverse the latest increment in fuel price will rub off negatively on some policies of Tinubu administration to ease things for the citizens. Policies such as the Students Loan Scheme and Consumer Credit Scheme that are just taking off”, it said.

Afenifere said with the latest increase in petrol price, the cost of fuel in Nigeria had risen by 460 per cent in 15 months.

It was curious that an organisation that declared a profit running into trillions of Naira could, almost in the same breath, claim indebtedness to the tune of nearly $7 billion. “Why not pay off the debt from the available fund before declaring it as profit?

“It is a common knowledge that the cost and availability of energy such as petrol, gas, electricity, diesel and kerosine are major factors not only in production and services but also on the quality of well-being that Nigerians can enjoy. Hikes in prices of these energy sources have astronomically increased the costs of services and commodities, reduced the disposal incomes of average Nigerians and heighten their health risk. The combination of all these are making a daily living an onerous task for the majority of the citizens. Considering the fact that millions of the Nigerians had been described as being ‘multi-dimensionally poor’, the recent hike in costs of fuel and electricity are uploading the number of people in that category phenomenally”, it said.

Similarly, the Peoples Democratic Party (PDP) yesterday condemned the hike in fuel price, alleging that it was a “brutal assault” on Nigerians by the ruling All Progressives Congress (APC).

The PDP said the increase is a “recipe for crisis,” particularly during a time of severe economic hardship under President Tinubu’s administration.

Debo Ologunagba, the party’s National Publicity Secretary, in a statement, urged President Tinubu to reverse the fuel price increase and reconsider other policies negatively impacting the nation.

He said with proper management, petrol should not cost more than N250 per litre.

He said the continuous rise in fuel prices, without consideration for the people’s welfare, was exacerbating the already dire economic situation, pushing millions of Nigerians further into poverty.

The PDP also alleged that over 150 million Nigerians had fallen below the poverty line, with businesses collapsing due to the high cost of living, a weakened naira and rising unemployment.

Tricycle riders protest fuel price hike in Delta

Tricycle riders in Warri South Local Government Area of Delta State yesterday protested the petrol price hike, disrupting business activities and vehicular movements.

They blocked the Deco Road Junction, the First-Marine Gate Junction and the popular Hausa Quarters, Igbudu.

TUC asks govt to rescind decision

The Trade Union Congress of Nigeria (TUC) on Wednesday criticized the federal government for the recent hike in the pump price of petrol, demanding its immediate reversal.

TUC President Festus Osifo, in a statement, said the union expressed deep concern that the sudden increase in fuel and electricity costs would exacerbate poverty levels, worsen the suffering of citizens and potentially lead to social unrest.

Osifo criticized the government for implementing the price increase without consulting key stakeholders, calling it a blatant disregard for the welfare of the Nigerian people, particularly the working class who are most affected by such decisions.

“The news of the PMS price hike has sent a wave of apprehension and depression across the nation, especially as it comes on top of existing hardships faced by citizens,” he said.

He said the TUC was also concerned about the recent 250% increase in electricity tariffs, labelling it as an additional burden on the poorest in society and a sign of the government’s lack of empathy for ordinary Nigerians.

Tinubu didn’t bargain fuel price for minimum wage-Presidency

The Senior Special Assistant to the President of Media (Print), Abdulaziz Abdulaziz, Wednesday on his X, said Tinubu never bargained with the leadership of the Nigerian Labour Congress (NLC) not to increase the price of petrol before arriving at N70,000 as the new minimum wage.

He was reacting to the allegation by the NLC’s president, Joe Ajaero, that Tinubu asked them to accept N70,000 as minimum wage for the petrol price to remain N617/litre.

Abdulaziz said: “I sat through the two meetings President @officialABAT had with labour leaders on minimum wage. At neither of the meetings was an offer made in exchange for a fuel price hike. Ajaero is once again playing his dirty politics with the emotions of Nigerians.”

In his reaction yesterday, Ajaero, through the NLC’s spokesman, Benson Upah, said, “As for Abdulaziz’s side-dig, he should stop insulting the intelligence of Nigerians as they do not need Comrade Joe Ajaero to know they have been taken for a ride and that life has never been this mean, all due to the policies of government.”

[DailyTrust]