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[OPINION] What does Trump’s conviction mean for his presidential bid? - Claire Mom
Since leaving the White House in January 2021, Donald Trump has been plotting a return to power — unfazed by the legal tangle his life has become.
With four criminal charges, the former president’s conviction on May 30 was the latest addition to his collection of firsts, making him the first former president in US history to be convicted of a felony.
The businessman is also the first former US president to have a mugshot, to face federal charges, and the first presumptive Republican nominee to become a convicted felon.
With his third presidential bid underway, the stakes are indeed high for Trump and country.
A QUICK GLANCE AT THE CASES
Hush money trial
The case against Trump was also a novel application of state and federal fraud and campaign finance laws, predicated on a hush money payment to adult film star Stormy Daniels before the 2016 presidential election.
Daniels said she was paid $130,000 to remain quiet after having sex with Trump. The former president denies the encounter took place.
Hush money is not illegal. The technicality stems from how Michael Cohen, Trump’s former lawyer who disbursed the money to Daniels, had his reimbursement recorded in the former president’s accounts.
Trump was accused of falsifying his business records by saying the payment was for legal fees and faced 34 counts of fraud under campaign finance laws.
Falsifying business records charges come with up to four years behind bars.
Prosecutors have not said whether they intend to seek imprisonment, and it is unclear if the judge — who earlier in the trial warned of jail time for gag order violations — would impose that punishment even if pressed.
Trump’s sentencing on the guilty verdict is scheduled for July 11.
Classified documents
Trump was indicted in June 2023 by a federal grand jury in Miami for taking classified national defense documents from the White House after he left office.
According to prosecutors, Trump resisted the government’s attempts to retrieve the materials.
An indictment released by the US department of justice showed that the former president is facing 37 criminal counts over retaining national defence information, nuclear secrets, exposing information, and obstruction of justice.
The former president has denied the allegations.
Aileen Cannon, presiding judge, indefinitely postponed the trial on May 7, citing “significant issues” around classified evidence that would need to be worked out before the federal criminal case goes to a jury.
Election interference
Trump is being investigated for attempts to overturn the results of the 2020 election.
The indictment alleges that Trump and a co-conspirator “attempted to exploit the violence and chaos at the Capitol by calling lawmakers to convince them… to delay the certification” of the election.
It also alleges another co-conspirator pushed then-Vice President Mike Pence to “violate the law” to delay President Joe Biden’s victory. The Trump campaign issued a statement shortly after the indictment denying the allegations.
A date for the trial has not been fixed.
Election interference (again)
Last year, an Atlanta-based grand jury indicted Trump and 18 others on state charges, stemming from their alleged attempts to overturn the former president’s 2020 electoral defeat.
Fani Willis, Fulton county district attorney, charged the former president on accounts of false statements and filing false documents.
In March, Scott McAfee, superior court judge, dismissed six of the 41 counts from the indictment, including three that applied to Trump.
A date has not been fixed for the trial.
CAN TRUMP STILL RUN FOR PRESIDENCY?
According to the US constitution, a candidate is only required to be a natural born citizen, at least 35 years old, and a resident of the US for at least 14 years, to have their name on the ballot for the presidency.
Trump ticks all boxes.
In theory, he could be sworn in from jail if he were to unseat President Joe Biden from the ballot.
Whether being convicted is enough to dissuade voters and ‘Trumpists’ is subject matter for another day.
A recent poll of registered voters found 67 percent as saying that convicting Trump for hush money will not be a factor in how they vote.
While 15 percent said a guilty verdict could more likely make them vote for Trump, 17 percent said it would make them less likely to vote for him come November.
Senate to strip CBN of powers to set interest rates
In a significant move to reshape the financial landscape, the Senate has proposed a bill to strip the Central Bank of Nigeria (CBN) of its final decision-making power in setting interest rates.
According to a copy of the bill obtained by The Nation, this authority is to be transferred to a newly proposed Coordinating Committee for Monetary and Fiscal Policies, which will be headed by the Minister of Finance.
The bill, titled “An Act to Amend the Central Bank of Nigeria Act No. 7 of 2007,” is sponsored by Senator Tokunbo Abiru (Lagos East) with 31 co-sponsors.
Senator Abiru emphasised the necessity of the amendments, stating: “This bill is a pivotal step towards modernising our financial regulatory environment. By aligning the CBN’s operations with contemporary best practices, we aim to foster a more robust and transparent economic framework for Nigeria.”
He added that the primary objective of the amendment was to enhance the effectiveness of the CBN in line with current realities and best practices.
One of the significant amendments proposed is the recapitalisation of the CBN from its current capital of N100 billion to N1 trillion.
This change aims to strengthen the financial stability and operational capacity of the Bank.
On interim board, the bill grants the President the power to constitute an interim board from the existing directors of the CBN.
This board will operate for a period not exceeding sixty days, ensuring continuity in the Bank’s functions during transitional phases.
Under the new provisions, the CBN’s budget will be subject to the approval of the National Assembly, aligning with the Fiscal Responsibility Act, 2007. This move is aimed at increasing transparency and accountability in the Bank’s financial management.
Abiru said a new position, Chief Compliance Officer (COO), will be introduced.
The COO is required to prepare quarterly reports on the Bank’s compliance with the Act’s provisions. These reports will be submitted to the Board, the President, and relevant committees of the National Assembly.
Also in the bill, the CBN Governor, Deputy Governors, and Chief Compliance Officer will now be appointed for a single term of six years with no possibility of reappointment.
This change, he said is intended to ensure fresh perspectives and reduce the potential for entrenched interests.
Another significant shift proposed by the bill is the establishment of the Coordinating Committee for Monetary and Fiscal Policies.
This new body will comprise the Minister of Finance as Chairman; the Minister of Industry, Trade, and Investment, the Minister of Budget and Economic Planning; Governor of the CBN; Two external board members of the CBN; Chief Economic Adviser to the President; Director-General of the Securities and Exchange Commission and the Director-General of the Debt Management Office.
Read Also: 107,646 passports ready to pick up nationwide, says Immigration boss
The committee’s goal is to set targets for monetary and fiscal policies that align with controlling inflation and ensuring sustainable economic growth.
On experience and pedigree, the bill stipulates that the Governor and Deputy Governors must have at least 15 years of recognized financial experience, while the COO must have at least 15 years of experience in auditing or legal practice in Nigeria.
Abiru explained that this requirement aims to ensure that only highly qualified individuals hold these critical positions.
The bill also calls for gender balance in the composition of the CBN Board and mandates a one-year notice before any changes to Naira notes are implemented.
Additionally, the bill mandates severe penalties for those who refuse to accept the Naira as payment or engage in the buying or selling of Naira notes at a markup.
These penalties include a minimum prison term of six months or a fine of no less than N500,000.
[TheNation]
‘Whatever happens is predestined from God,’ says Emir Sanusi
The reinstated Emir of Kano, Muhammadu Sanusi, has said God predestined his reinstatement.
Speaking during the Friday prayers at the Kofar Kudu Central Mosque in Kano, Sanusi II emphasised that everything that happens is according to God’s will and cannot be questioned by anyone.
He urged people to remain steadfast in their faith and focus on the deeds of Allah during both good and bad times.
“Whoever believes that Allah alone gives everything must take the decision of Allah wholeheartedly. No one asks Allah’s reasons for anything.
“We were told that whoever did not accept destiny is from Allah, his belief is not complete. One should be thankful in times of good and bad situations. We must believe that whatever happens to us is predestined from God and what we couldn’t have is from Him.
“We are fast approaching Zhul Hijja which is very beneficial and we must observe supplications these days,” he stated.
Sanusi II was reinstated as the 16th Emir of Kano by the state Governor, Abba Yusuf, noting that Sanusi’s reappointment was “based on his competence, credibility and popularity.”
He had initially ruled as the 14th Emir but was deposed in 2020 when he had a fallout with the former state governor and present National Chairman of the ruling All Progressives Congress, Abdullahi Ganduje.
[Punch]
[OPINION] The big American cock and the small Cuban needle - Owei Lakemfa
IT is a very serious matter for the United States of America, USA, the most powerful country in the universe, to place a country on the list of states “sponsoring” terrorism. So, when on May 15, 2024 it placed Cuba in this category, it was bound to attract attention. However, this will be for those who have not been following the cat and mouse game between both countries since November 3, 1961 when President John Fitzgerald Kennedy signed “The Cuban Project.”
Otherwise called ‘Operation Mongoose’, it was a project by the US authorising the use by all means, including terrorism against Cuban civilians, to overthrow the Cuban government. At inception, the operation was jointly led by US Air Force General Edward Lansdale and William King Harvey of the Central Intelligence Agency, CIA.
The Kennedy administration had begun with the invasion of Cuba by exiles backed by the American military in what became known as the ”Bay of Pigs Invasion”. There were other attacks, including hundreds of attempts to assassinate former Cuban President Fidel Castro Ruiz.
Terrorism is essentially the use of violence to further political goals. But the USA has a number of definitions depending on various institutions like the CIA.
However, since we are concerned here with international relations, we can adopt the USA State Department definition which states that terrorism is “an activity that one, involves a violent act or an act dangerous to human life, property, or infrastructure; two, appears to be intended to intimidate or coerce a civilian population; to influence the policy of a government by intimidation or coercion; or, three, to affect the conduct of a government by mass destruction, assassination, or kidnapping.”
Now, Cuba does not involve itself in violent acts that are dangerous to humanity. Its acknowledged acts outside its borders are primarily two. The first, is sending medical personnel in their tens of thousands to various countries, especially Asia, Latin America and Africa, including Nigeria. One of its remarkable successes was helping to contain Ebola in Africa.
But its most spectacular contribution to humanity was during the COVID-19 pandemic. First, it was perhaps the only country in the world that refused to shut its borders against other human beings. When in March 2020, the British cruise ship, MS Braemer with 682 passengers on board ravaged by COVID-19 was left to drift in the Caribbean with no country allowing it to berth, Cuba brought in the ship.
It followed this up by sending 3,700 healthcare personnel around the world to combat the pandemic. This included missions to Italy,Azerbaijan, Qatar, Kuwait, the United Arab Emirates, Honduras, Nicaragua, Venezuela, Peru, Antigua, Saint Lucia, Saint Vincent, Suriname, Jamaica, Haiti, Belize, Barbados, Martinique and Trinidad and Tobago.
Here in Africa, Cuban doctors and nurses helped to Combat COVID-19 in Angola, Togo, Cape Verde, South Africa, Guinea Conakry, Guinea Bissau, Sao Tome and Principe, Equatorial Guinea, Sierra Leone and Kenya. This internationalist intervention by the Cuban doctors called “The White Coat Army” was so overwhelming that in my September 11, 2020 column titled, “Nobel Peace Prize: A case for the White Coat Army.” I joined the campaign that the Cuban internationalist medical teams under the Henry Reeve International Medical Brigade, be awarded the Nobel Peace Prize.
The second intervention the Cubans had engaged in was sending 55,000 troops over 9,000 kilometres to fight and conquer the seemingly invisible Apartheid South Africa military that was invading various African countries and colonising Namibia and South Africa. This led to the independence of these two colonies in Africa.
Cuba was first designated a so-called sponsor of terrorism in 1982 for backing liberation movements like the ANC and SWAPO and supporting revolutionary governments like the Sandinista in Nicaragua.
On April 14, 2015, the USA under President Barack Obama reviewed this classification of Cuba and admitted it was political and unhelpful. On that day, the White House declared: “While President Obama acknowledges that Cuba and the United States continue to have great differences, these differences do not pertain to Cuba supporting terrorism.” So Cuba was removed from the list.
Events outside the control of Cuba and, having no relation to terrorism, led to the re-listing of Cuba. On January 23, 2019, then American Secretary of State, Michael Pompeo issued a statement on the “Recognition of Juan Guaido as Venezuela’s Interim President.” This was a failed coup by the USA to unseat Venezuelan President Nicholas Maduro. The Trump administration was livid that Cuba refused to recognise Guaido; so on January 12, 2021, eight days before leaving office, President Donald Trump, relisted Cuba as a state sponsor of terrorism for its continued recognition of President Maduro.
It was expected that incoming President Joe Biden who was Vice President to Obama when Cuba was delisted, would reverse the Trump decision, more so as it had nothing to do with terrorism. However, the Biden administration has simply continued to relist Cuba.
Labour declares indefinite strike from Monday over minimum wage, electricity tariff hike
*Expresses sadness over govt refusal to take its May 1 ultimatum serious
*Regrets inconveniences strike may cause Nigerians
Organised Labour has declared an indefinite nationwide strike from Monday, June 3rd over the failure of the federal government to conclude negotiations on a new national minimum wage and reverse the hike in the electricity tariff.
Recall that Vanguard Newspaper had Friday exclusively reported that Organised Labour under the aegis of the Nigeria Labour Congress, NLC, and its Trade Union Congress of Nigeria, TUC, counterpart, might declare a nationwide strike from Monday if the tripartite committee on the new national minimum wage failed to meet the expectations of Labour.
At briefing, leaders of NLC and TUC pleaded with Nigerians to bear with them, saying “Apologies for inconveniences but commitment to pursue the cause to its conclusion.”
[Vanguard]
Sit-at-home: Abia places N25m bounty on killers of soldiers
The Abia government has placed a N25 million bounty on the killers of five soldiers in the state.
On May 30, five soldiers of the Nigerian Army were reportedly killed by suspected members of the proscribed Indigenous People of Biafra (IPOB) while trying to enforce sit-at-home at Obikabia junction in Aba.
The IPOB earlier gave a directive for total compliance with the sit-at-home order to commemorate Biafra Day on May 30.
On Friday, the army said it would avenge the killing of the soldiers.
In a statement on Friday, Okey Kanu, the commissioner for information in Abia, condemned the attack on the soldiers by the suspected separatists.
“The Abia state government considers the event of Thursday, May 30, 2024, a serious affront to its resolve by criminal elements who are hell-bent on returning Abia to the dark days of insecurity and fear amongst citizens, especially in Aba, the economic heartbeat of the state,” the statement reads.
“This is more regrettable in the light of the fact that unprecedented investments have been made in the last one year to restore the city’s public infrastructure and reposition it as an attractive investment destination for local and foreign businesses.
“To underscore its resolve, the state government is offering a N25 million (twenty-five million naira) reward to anyone with useful information that could lead to the location and arrest of any of the criminals connected to the unfortunate killings and the subsequent state of apprehension across the city of Aba and environs.
“The security formations in the state have been directed to treat informants with all the confidentiality required to guarantee their full cooperation and assistance until the criminals are fully apprehended and brought to book.
“Furthermore, the Abia state government will, in line with its commitment to the welfare of the security operatives working within its territory, take up the responsibility of supporting the families of the slain soldiers, including payment of regular stipends to their spouses and the education of their children to university level.”
[TheCable]
[OPINION] The Happy Warrior - Akin Osuntokun
My first encounter with royalty and power politics is the stuff of family and Yoruba history. At the end of the Ekiti Parapo war, the architect and motivator of the Ekiti uprising, Prince Ishola Fabunmi and his main lieutenant Dada Akoja (my forefather) returned to Okemesi. The long serving Monarch of the town was Fabunmi’s great uncle, Aponlese. Reputed to have been on the throne for an improbable hundred years, he had grown feeble and weak. As is often the case, the returning triumphant General and Prince, Fabunmi resolved on taking the throne and requested his Uncle to abdicate. The confidence of Fabunmi was predicated on the anticipated support of the returnee Okemesi contingent of the Parapo war. But his close friend and confidante demurred and warned that those who were goading him on may turn against him at the critical moment. And so it transpired.
On the day of the coup, rather than turned the cannon fire on the Palace, his military confederates turned against him. The mob headed for his residence and he had to flee the town. They pursued and were upon him when my Dada intervened, stood against his pursuers and enabled his escape. In retaliation, the mob turned on him, burnt down his residence and drove him out of town. The most recent is the one concerning my friend Emir Sanusi Lamido Sanusi
Back in the day, we were political and intellectual collaborators. Like many Nigerians I first took notice of him as a regular newspaper contributor. He was an intellectual rebel in the political debate over the wildfire regionalist push for the enthronement of Sharia jurisprudence in the Northern Muslim states. He called to question the propriety and honesty of purpose of the introduction of Sharia especially the orthodox penal code in a context that does not fulfil the condition precedent. To convict an offender and proceed to exact the severe punishment presupposes the prerequisite of a society where no one is compelled to steal in order to assuage hunger and basic necessities of life. He argued and rightly so in my view that such a precondition does not exist in Nigeria and the Nigerian society must ab initio be deemed as failing to satisfy the primary condition for the introduction of Sharia.
The first fruit of our collaboration was the establishment of a political pressure group called the Progressive Action Group, PAM. It was conceptualised as a response to the failure of the political system to fulfil the role of continuous and regular leadership reproduction and recruitment into the civilian political class-to assume political succession from one generation to another. There was an emergent generational gap and vacuum-to whose remedy we programmatically addressed ourselves. We intended ourselves as a kind of political nursery for preparing and producing a successor class at the shortest possible time. As it were, the major indication of this systemic failure was the recycling of political leaders rather than a renewal with successor generations.
On the occasion of my fortieth birthday, I got him and six other friends including Odia Ofeimum, Sina Odugbemi, Ruben Abati, Kayode Samuel, Dotun Oni and Professor Adebayo Williams to write essays in my honour as companion to a collection of my columns and got the hybrid published as “Beyond Abacha: Companion Essays”. Sanusi titled his chapter “Shariacracy In Nigeria: The Intellectual Roots Of Islamist Discourses”
He wrote “Over a long period of time I have become suspicious of the Northern political establishment. The Northern Muslim population has often been used as a cannon fodder by the establishment in its political battles with other class fractions of the Nigerian elite. At the end of it all the people remain poor, uneducated, malnourished and oppressed. I approach my analysis of Shariacracy from a Shariati perspective.
“I try to examine it from the point of view of the welfare of the people and their liberation from these pathetic conditions. This has placed me in seeming conflict with traditional scholarship and the political class. What they portray as piety, I consider hypocrisy. What they see as achievements, I see as diversion. Until Shariacracy focuses on the true problem of the North, the condition of its people, it will not be, in my books, serving the purpose”. He wrote this 23 years ago and couldn’t have served a better notice of his future interventions in the public life of Nigeria.
At the height of his crisis as CBN governor, I weighed in on the controversy as follows “Inherent in him are the contradictory character traits of humility and arrogance. In his father and grandfather he inherits the DNA of non-conformity and aristocratic hauteur. That he made a success of his banking career owes less to any special aptitude for banking and more to the fact that people of his talent make-up would generally make a success of any assignment they are given”.
“Without prejudice to the allegations against him, I think he generally acquitted himself brilliantly as the Governor of the Central bank but he was equally immensely flawed. He was too politically brash, controversial and confrontational. He was self-adulation and gave the impression that his accomplishments amount to a licence to redefine the job profile of the CBN governor in his own image; he was unduly populist and constructed the CBN as a law unto itself”
Unable to reconcile this character profile with the sedate pomp and pageantry that conventionally define monarchy, I argued on his behalf that he would never be interested in becoming the Emir of Kano. When next I saw him, I confidently told him I had dismissed the speculations making the rounds that he may be interested in mounting the Kano throne. He cut me off and protested ‘I am o, I am o! He achieved his heart’s desire and wasted no time in the imposition of his activist personality on the traditional institution. Faced with a considerable push back by the reactionary establishment, he retorted with this vintage Sanusi “I have reflected over and over on my speech and I still don’t see what I said that is so wrong and offensive. I didn’t say the North cannot survive as a country. After all, Niger Republic is there with some help from Paris. I didn’t say that the North in the past had no glory. I know it has a rich history. I didn’t say the North cannot be rich and better. In fact, I think it can and it is a disgrace we are where we are”
The quality I admire most in him is his resilience, the ability to bend with the winds of adversity and emerge triumphant. There has been this persistent speculation that his early adulthood had been partly spent in the pursuit of fundamentalist causes in dangerous sects. Consequently, he was one of a group of fifteen zealots who were locked up in Sokoto Prisons indefinitely for sectarian extremism by General Sani Abacha. According to Jafar Jafar “Sanusi Lamido Sanusi escaped firing squad by whiskers and jailed for about two and half years under Abacha’s Decree 2 in Sokoto Prisons for “inciting violence”,
He thereafter picked up himself and applied his talent in the service of the banking industry. And boy, was he massively rewarded! And then he became the Emir of Kano as he wished. It was from this Olympian height that he was pulled down by one of the personifications of contemporary Nigerian political regression, former Kano state Governor, Ibrahim Ganduje. Their collision was predictable. There was no way a rogue Governor and a reformist Emir in the same domain could avoid a confrontation and showdown.
And when the end of the beginning came, Sanusi did not exhibit an iota of self-pity or depression. It was as if he knew he was coming back to the throne and refused to be addressed as the former Emir of Kano. He would insist on being identified as the 14th Emir of Kano. As I was concluding a one year academic visiting fellowship at the University of Oxford in 2020, he was coming in for a similar fellowship at St Anthony’s college at the same institution. He subsequently escalated his academic ambition by registering for a PhD at the School of Oriental and African Studies, University of London.
At the end of the day what matters most is what best serves public interest. Is it an Emir who defines his role as a reformer in a society desperately in need of progressive reform or a Governor caught on tape stuffing wads of proceeds of corruption into the cavernous folds of his babariga? I actually believe that it is a badge of honour to be at odds with such a contrarian character with the charge of “Insubordination” no less. If Kano state was not all about Ganduje, then it was wrong to have deposed Sanusi in the first place. It was a wrongdoing that cried for remedial justice.
I sympathise with the dethroned Emir, Aminu Ado Bayero, who is an innocent victim of crass power politics. Nonetheless, here is an audition for the two Emirs and you be the judge of who better serves the cause of Nigerian public interest. The theatre was the politicisation of the relocation of certain offices of the Central Bank to Lagos.. Here goes Bayero.
“We are indeed suspicious on why Mr. President single-handedly relocated key departments of CBN, and outright relocation of FAAN to Lagos.
“We are receiving a series of messages from my subjects, and most of them expressed concern over the relocation of CBN and FAAN to Lagos…the Federal Government should “come out clean on this matter and talk to Nigerians in the languages they would understand.” And then came Sanusi
“Moving certain functions to the Lagos office (which is bigger than the Abuja head office) is an eminently sensible move,”. “It makes eminent strategic sense. And I would have done this if I had stayed.
“All this noise is absolutely unnecessary. The CBN has staff manning its branches and cash offices across the federation..
“My advice to the governor is to go ahead with his policy. Once the CBN starts bending to political pressure on one thing it will continue doing so. ethnic and religious bigots will always shout but the CBN should rise above it and just do what needs to be done
One puzzle remains. How did the federal government manage to insinuate itself into what was clearly within the remit of the Kano state government?
[OPINION] Why we should protect the independence of the Central Bank - Etim Etim
The Senate is currently undertaking a comprehensive amendment of the Central Bank Act of 2007, but the exercise is generating mixed reactions in the banking industry. Operators are worried that some of the new clauses being proposed by the lawmakers are capable of eroding the autonomy and independence of the apex bank and therefore weakening its capacity to perform. The amendment bill is being sponsored by Senator Mukhail Adetokunbo Abiru (Lagos East) and is co-sponsored by 32 others. Wednesday, May 29 was slated for a public hearing for this amendment. Senator Abiru was once the chief executive of Polaris Bank, a fellow of Institute of Chartered Accountants of Nigeria (ICAN) and a member of Chartered Institute of Bankers (CIBN). He holds a first degree in Economics from Lagos State University. In August 2020, Abiru resigned from the position of CEO of Polaris Bank to run for the senatorial seat. Many in the financial services sector are worried that a man with such credentials is leading the charge to weaken our central bank, and this is the context of my intervention today.
The proposed amendments include setting the tenure of the Governor and Deputy Governors at a single, non-renewal term of six years; appointment of a minimum of one career staff of the Bank in the Committee of Governors; appointment of at least one woman among the external directors and the establishment of the position of Chief Compliance Officer in the rank of a Deputy Governor. It is also proposed that the five external directors should hold office for a non-renewal single five years. In addition, the amendment intends to increase the Ways and Means to government to 10% of the total of total revenues of the previous three years. These are quite commendable innovations. I’m particularly pleased with the single tenures for the Governor and the Deputy Governor and the creation of the Chief Compliance Officer. I’m surprised that the CBN had not established the Chief Compliance Office all this while, yet the apex bank had since mandated the commercial banks to create the position in the last 15 years or so. I remember that Access Bank has a Chief Compliance Officer as far back as when I joined in 2008. How could the CBN not have had one? There is also a provision in the proposed review of the law that states that changing legal tender should be done in phases and in a manner that does no cause any distortion to the economy. Nobody would disagree with this given our recent experience. I also support the proposed increase in the CBN’s paid up capital from One billion Naira to one trillion Naira, and the provision that such reviews should be done as regularly as is necessary.
But there are a few provisions in the proposed amendment bill that have jolted stakeholders, the banking industry and even international partners like the IMF. The bill seeks to establish a seven-member Coordinating Committee for Monetary and Fiscal Policies to be chaired by the finance minister. The Coordinating Committee will set ‘’internally consistent targets of monetary and fiscal policies that are conducive to controlling inflation and promoting financial conditions for sustainable growth’’. In other words, the bill, if passed and signed into law, will give the finance minister powers to fix interest rate – a traditional duty of any central bank the world over. In addition, the CBN’s budget would be approved by the National Assembly while the Governor will have to appear before the lawmakers twice in a year to give accounts of his stewardship, in addition to answering to their routine summons as often as they deem fit. With these amendments, the CBN will essentially revert to its former status as an appendage of the Finance Ministry, about 20 years after it secured an autonomy.
A central bank independence matters for price stability which in turn conduces for a consistent long-term growth. During the COVID-19 pandemic central banks responded swiftly to steer the global economy out of meltdown due to their independence. Now, facing rising inflation, central bankers are responding to the challenges – although at different speed and timelines. In many countries, their responses helped to tame inflation. Compare this to the 1970s when most central banks were still subjugated under bureaucratic and political influences and how sluggishly the central banks responded to the high inflation then. This is why the IMF was among the first to kick against the proposed amendment of the CBN law, stating that the proposed amendments ‘’could undermine the authority of the CBN and weaken its capacity to respond to emerging challenges appropriately’’. Indeed, Turkey and Venezuela are good examples of this.
Eminent economist and former director of the CBN and former member of its Monetary Policy Committee (MPC), Prof Akpan Ekpo, is unsparing in his assessment of the proposal. Speaking to this writer, he said: ‘’The Coordinating Committee is unnecessary. The Finance Ministry may have its own committee to determine crucial fiscal variables, while accommodating monetary policy. That is, the CBN will be represented in that committee as is the case in the MPC where the Finance Ministry is also represented. The seven-member Coordinating Committee will undermine the independence of the CBN and place it under the control of the Finance Minister. The CBN (Monetary policy) and the Ministry of Finance (Fiscal Policy) must coordinate and collaborate. Its global best practice that doesn’t require any legal backing. The misnomer of the Coordinating Committee will create further distortions resulting in the mismanagement of the economy. I am particularly worried that the Senate is increasingly becoming an institution of revisionism. Just this week, it reverted to the old National Anthem without as much as a debate or convincing reason; and now the senate is taking the CBN back to the apron string of the Ministry of Finance. What else should we expect from this senate?
Press release by the Chairman Afenifere Renewal Group on Federal Government Proposed Local Government Autonomy
The Attorney-General and Minister of Justice stirred the hornet’s nest again as regards the issue of local government autonomy. The Minister expressed concerns about the mal-administration of local governments’ portion of the Federation Account Allocation Committee (FAAC) by the States Joint Account Allocation Committee (JAAC), the tenure of office of local government Chairpersons that is often times truncated by Governors and this coupled with the subnational governments' failure to conduct local government elections and thus, in many cases, preferring to appoint Caretaker Committees and or Sole Administrators to administer local governments in breach of the constitution.
The Minister is also of the opinion that the responsibility for conducting local government elections should be transferred to the Independent National Electoral Commission (INEC) because of how State Independent Electoral Commissions (SIECs) now come across as bad advertisement for democracy.
We sympathise with the Attorney-General who we believe from his antecedents sincerely desire a truly representative democracy where development will be bottom up as opposed to the top down approach we are currently executing.
However, given the saying that beheading is not the antidote for headache, he can not in the process of trying to solve a challenge that can easily be put right, cause a damage that will have fundamental repercussions to our country and our fledgling democracy. ARG posits that our democracy needs to be strengthened by operating as a truly federal structure where the two tiers of government, the national and subnational, operate as equal partners. Any attempt to create a third frontier in local government autonomy is a call for future chaos and it bodes no good for anyone.
The federal government must completely hands off local government administration- it is the prerogative of the subnational. Let the reforms come from that level through legal means and civic advocacy. That is what will stimulate enduring change. Any other approach like the one being touted will only engender confusion.
While the Afenifere Renewal Group(ARG) commends the sincere intention of the Minister to further trickle down good governance to the people, it is important to clearly state that the construct of local government autonomy, as being ideated, essentially undermines the underpinnings of federalism as a governance template. The proposed alteration is essentially anathemic to the fundamental principles of federalism because it subtly offers the central government power to control activities at local level within the territory of the State. Though, no two federal systems are the same, one of the fundamental principles of federalism is the parity in relationship between the two levels of government established (i.e. central and subnational government). Not being a federating unit, it is an aberration that local governments' administrative costs would be drawn from the federation account, as they are unknown to the central authority as created by the subnational blocks.
Further, the autonomy,as being conceived, focuses more on “rents sharing” as opposed to creating and enhancing productive capacities at the local government level. What is waiting to be accomplished is focusing on optimizing productive capacities of our economy.
Moreover, the State tier, by virtue of its legislative mandate over development management enjoys the most effective and efficient coordinators precept over its territory. At a time when the mitigation of the ravages of climate change, rapid urbanisation, land grabs and the associated insecurity and food poverty are increasingly being intertwined with efficacious management of land and biodiversity, the quest for autonomy being envisaged further undermines the capacity of federating unit governments to seamlessly plan comprehensively across their territories. The putative autonomy of local government, most importantly undermines the capacity of state governments to manage vulnerable rural areas that are now melting pots of different security risks. What could be more complicating, when higher authorities from the Centre hold strategic interests that run contrary to those of the sub-nationals or the federating units; and they hold the fiscal life-line of the autonomous local governments!
While it is most unacceptable that some State Governors are holding onto resources that should percolate to municipal authorities under them, the standard procedure should be enabling the appropriate legal and financial institutions of state to confront and stymying the unwholesome act and affecting punishment as may be appropriate. To that extent, the focus for our country at this point in time should be optimal unleashing of regional potentials rather than investing energies towards outright eradication of the vestiges of Nigeria's federalism still operational and manifesting in the control being wielded by States over the affairs of the local government areas within their jurisdictions.
Further, the heist on local government resources or any other resources for that matter, as being the crux of current agitations, should rather as highlighted earlier be deemed a corruption issue, and an extension of tier-inclusive governance failure.
It would be recalled, that, President Bola Ahmed Tinubu (GCFR), himself, as a Governor in Lagos State, had running battles with the Federal Government, first and victoriously, with respect to the prerogative reserved by States when it comes to land management and control, and second, with respect to the powers of States to create local governments, an endeavour that would be stonewalled by the reactionary and unitary standpoint of the government of that era. This second endeavour would project him as a quintessential champion of true federalism.
Now that he is in charge, and considering the current circumstances of our nationhood that make optimal unleashing of regional resources and blockage of any form of haemorrhage even more pressing and expedient, the sustenance of the prebendalist order where Local Governments that were created by military fiats and indeed by mere delineation of swathes of lands into jurisdictions to confer on certain regions' gerrymandering and fiscal allocational advantages, without recourse to whether they have the resources and means to attain autarky, can no longer be acceptable.
Our federal system would stand strengthened when the local governments construct as currently available in the constitution is delisted, with the States reinvigorated to determine what administrative structure suits them.
However, while we maintain that the federating units or States reserve the right to subdivide its territory into suitable adminstrative structures and determine their powers and responsibilities, the ARG strongly favours elective autonomy for any so envisaged local government structure. This, however, would not justify why INEC should be responsible for organising elections of adminstrative structures for any State tier that is an equal opportunity partner with the central government in a federal arrangement. INEC, over the years, has equally not proven to be independent enough to guarantee fairness. Similarly,as currently constituted,the SIECs have also not shown capacity and have rather come across as bad advertisement for democracy. But they can be and should be reformed and rejigged to bequeath flawless elections therefrom.
It is based on the foregoing that the ARG has voted not to support the autonomy being proposed for the local governments. It must however be clearly and firmly stated that this position was informed by the altruistic quest to protect the sovereignty of our States cum Region in line with the fundamental principles of federalism.
Nevertheless, we are not oblivious of the rightful agitation of a segment of our society for what has been described as local government autonomy because of the seeming lack of governance or effective service delivery in our local communities.
Therefore, we strongly appeal that current sub national governments not already doing so, should immediately take deliberate steps towards addressing some of those concerns, particularly the issue of democratic local government Councils and full and effective discharge of financial obligations to local governments under their jurisdiction.
For Afenifere Renewal Group
Hon. Olawale Oshun.
Chairman
Chief Ayo Afolabi
Secretary
[PRESS RELEASE] Late Joshua Ejigbo’s Family Lawyer Condemns Veritas University's Insensitive Remarks
As counsel to the family of late Joshua Ejigbo, we are deeply appalled by the recent insensitive and callous statements made by Mr. Ben Agande, the spokesperson for Veritas University, Abuja, regarding the tragic death of our client's son, Joshua. Mr. Agande's dismissive remarks about the family acting on a "phantom autopsy" and his insinuation that they are spreading falsehoods are not only untrue but also deeply hurtful to a family grieving the loss of their child.
It is evident that Veritas University, rather than expressing remorse for their negligence, has chosen to defame and attack the grieving family of Joshua. This behaviour further demonstrates their lack of empathy and accountability in this matter.
Let us be clear: Veritas University, while acting in loco parentis, had a legal and moral duty to ensure the safety and well-being of Joshua while he was under their care. They failed in this duty on multiple fronts:
- The gymnasium where the incident occurred was unsupervised, leaving students vulnerable to potential hazards.
- The delay in attending to Joshua's injuries and the lack of basic first aid in the gymnasium and emergency care facilities at the university's clinic undoubtedly exacerbated his condition.
- The university allowed an underage student to use gym facilities without obtaining express written consent from his parents.
These failures amongst several identified constitute a clear breach of the duty of care owed to Joshua, and we intend to hold Veritas University fully accountable for their negligence.
Furthermore, Veritas University, as the owner and occupier of the premises where this tragic incident occurred, bears an undeniable responsibility under the legal principle of owner/occupier liability. The university had an inherent duty to ensure that its premises were safe for all students before inviting them onto campus. It is unconscionable that an institution that collects substantial fees from its students failed to provide the most basic protection to the young people entrusted to its care.
This negligence is not only a legal liability but also a moral failing of the highest order.
Moreover, the university's version of events surrounding Joshua's death is blatantly contradicted by the medical certificate of cause of death. While the school attempts to portray the incident as unexplainable, the certificate clearly indicates that Joshua died a violent death under their watch. This discrepancy raises serious concerns about the university's transparency and cooperation in helping the family uncover the truth. It is evident that Veritas University is more concerned with protecting its commercial interests and maintaining a facade of morality to attract unsuspecting families than with revealing the truth and taking responsibility for their negligence.
We urge Veritas University to retract their insensitive statements, issue a sincere apology to the family, and take immediate steps to address the systemic failures that led to this tragedy. We will not rest until justice is served for Joshua and his family.
For: A&G Solomon®
Ataguba S. Aboje, Esq, CIPP/E, NP FRN, MCIArb, FICAD, FBDFM, FCIGCD
Managing Partner
Barrister and Solicitor of the Supreme Court of Nigeria
Solicitor of the Senior Courts of England and Wales
Notary