
OTHERS' VIEWS
Anti-graft agency Economic and Financial Crimes Commission is taunting us with another emotional roller-coaster. They are asking us to join them in navel-gazing over another sensational case of thievery by a politician. We will do that for weeks (or months) and nothing else. Meanwhile, the said politician will be rehabilitated—probably appointed to a crucial position—in contempt of their ongoing case with the EFCC. One needs not be clairvoyant to say the latest graft case, involving ex-Kogi governor Yahaya Bello, is another ploy by the EFCC to titillate a public that still allows itself to be amused by jokes that lack a punchline. We have been here before (many times) and we know how this ruse ends: they will siphon emotion out of the public and eventually leave everyone hanging. No closure, nothing!
The most sensational of the allegations against Bello says he grifted almost a million dollars of public funds to pay his children’s school fees. Virtually every commentator has made this revelation the focus of their outrage. Bello, of course, stridently denies the accusation. What he failed to explain was how he managed to procure that much money and why he felt the urgency to pay for the length of his children’s school years. Who does that if not a man who wanted to exploit an unaccountable source of funds while he still had access to it?
Like other Nigerian politicians who dish out photos of their children graduating from schools abroad for poor Nigerians to gawk at, Bello also took his children out of the disaster zone called the Kogi State public schools and tucked them where the Nigerian decay has not touched. Despite claiming to be a poor herdsman with a mere 150 cows, former President Muhammadu Buhari too educated his children abroad. His mendacious yet witless aide, Femi Adesina, claimed Buhari sold his houses to afford the expense. Those children will grow up holding up their noses at the poor Nigerian masses, conveniently forgetting those were the same people their parasitic parents robbed to give them their lives.
That said, I struggled to understand the sensation around Bello’s case. Why did his case excite anyone, given that his actions are pretty standard? What is the difference between what he allegedly did and the “Bola Tinubu model” of using the state legislature to pass a bill that will pay an ex-governor humongous pension? Tinubu was the first governor who got the state legislature to grant him hefty amounts of money as pension, effectively tying the state’s destiny to his pockets. That model has been replicated by other greedy ex-governors without intentions of weaning themselves from the public purse. Bello too could have used the state Assembly to pass a bill paying his children’s school fees but he chose to be savage. The cynical part of me thinks that is the only sin he committed. If, after all these years, he did not learn to eat public funds with the finesse with which the old masters do it, he deserves to be disgraced.
The difference between Bello’s alleged crime and his ex-governor counterparts who granted themselves stupendous pension is the gap between eating oily yam with your fingers and using silverware. One makes you look primitive, while the other allows you the illusion of being civilised. I am sincerely confused by the morality of Tinubu’s supporters yelling at Bello. Would your opinion of him have been any different if he had instead set up a company called AlphaDelta Gamma and used it to achieve the same purpose? Sincerely, Bello’s only sin is his barbarity.
Despite the bold handwriting of ordinances written against him, the truth is that Bello is going nowhere. Not only does he know it, but even EFCC chairperson Ola Olukoyede must know it too. He cannot be so naïve to believe otherwise. During a recent press conference, Olukoyede grandiosely declared, ‘If I do not personally oversee the completion of the investigation regarding Yahaya Bello, I will tender my resignation as the EFCC Chairman.” Yinmu! He must think he is the first EFCC chairperson in history to spot a potential politician-thief. If Bello’s case is truly his dealbreaker, he had better resign right away because Yahaya is going nowhere. He might be disgraced for a while but that is the extent of what constitutes justice for corrupt politicians in Nigeria. No one goes to jail for corruption unless they fall out of reckoning with the powers that be. When you have passed your sell-by date and can no longer secure electoral victory, you will be conveniently discarded. That is when they sacrifice you to the EFCC.
Luckily for Bello, he helped the All Progressives Congress retain power in Kogi State. His peers in the Governor’s Forum who ran the same errand of “delivering” their constituency have been rewarded with “juicy” offices. The APC still needs him for the 2027 elections, so why sacrifice him now? Besides, he is also an APC member, the ruling party where virtually every single person within the ruling party has dirt on their hands. Jailing him for committing a popular sin will open the door to the possibility of other party members being similarly treated. That will ultimately demystify the party as a formidable redoubt for politicians. If that happens, the fraternal code of honour held by the thieves of public wealth will lose meaning, and the incentive for venal but powerful politicians to join the party will be lost.
There is no other reason people join a party in Nigeria than self-service. No party in Nigeria has a coherent ideology; nobody defects to them based on principles. It is to seek protection and access resources. Key Peoples Democratic Party members like Godswill Akpabio and Nyesom Wike had no qualms about joining the APC to be rebranded. Akpabio’s case with the EFCC has been momentarily forgotten and Wike’s own will never come up with the EFCC unless he costs APC the 2027 election. If Bello too waits this out, the EFCC will return to their original vocation of running after crossdressers, Bureau De Change operators, and money sprayers at Saturday afternoon owambes!
Olukoyede is not the first EFCC chairperson—nor will be the last—who thinks making noise in the media is akin to convicting an accused looter. His prosecutorial zeal notwithstanding, the court case will probably be botched by a lack of meticulousness. Here is why: Olukoyede alleged that Bello paid $720,000 out of the state coffers to the American International School for his child’s tuition before leaving office. In their response, the school disclosed that the sum was $845,852 and was paid in 2021 and for five children. Please note the wild difference between what the EFCC announced and what the school revealed. Good. Those discrepancies are why the EFCC’s case will eventually be thrown out of court based on some technicality.
Finally, the truth is also that there is a lack of will to pursue corruption. The present administration is aware (too acutely, in fact) of its own lack of moral legitimacy and can hardly confront graft without buckling under the weight of its own hypocrisies. Even under Buhari, the man who got into power by flexing anti-corruption muscles, two court convictions witnessed (Joshua Dayiye and Jolly Nyame) were reversed with presidential pardons. When they asked Buhari about ex-Kano governor Abdullahi Ganduje who was caught on video stashing his pockets with dollars, he pretended he had hearing problems. If Buhari who supposedly hated corruption could fail so grandly, is it Tinubu that will now muster the resolve? The person who recently announced he would fight corruption with technology? Why did “technology” not stop the lawmakers who approved his grand pension? The person who cedes to machines the duty that humans with a working conscience ought to confront cannot be taken seriously. Dey play!
Mr Aderemi Adeoye retired yesterday as the Commissioner of Police (CP) in Anambra State. By his own admission, his net worth is now N20 billion! And he has set his eyes on displacing Alhaji Aliko Dangote as the richest man in Africa within the next ten years. I am also quoting him. “I have been privileged to be trained in Ghana, England, Israel, California and more. I have served abroad in the United Nations, and this career gave me opportunities for self-development, and these have prepared me for retirement,” Adeoye admitted during his ceremonial pull out parade from the Nigeria Police Force (NPF) in Awka last weekend. “In 2018, I founded an investment club, Alpha Trust Investment Club (ATIC) Limited. We started it with a modest sum of N54 million, but today we have investments worth over N20 billion. That will be my full-time business from Wednesday, May 1 (yesterday). We have been investing and now we want to go into full time business. And we will in the next 10 years give Dangote a run for his money.”
Let me be upfront here. I do not agree with those who find virtue in the kind of ‘poverty’ fables that propelled former President Muhammadu Buhari to power in 2015. So, I am not opposed to legitimate ‘side hustles’ without which it is difficult for professionals to stay afloat in Nigeria. But there is a problem when public officials acquire stupendous wealth that is impossible to explain and then make a show of it. Therefore, to know more about this multibillion Naira company whose promoter seeks to displace Dangote on the ‘Forbes List’, I first conducted a search at the Corporate Affairs Commission (CAC) where I drew blank. I am surprised that a business concern with a portfolio of N20 billion is not listed at the CAC. Then I did a Google search. My findings were shocking.
In February this year, some people had petitioned the Inspector General of Police, Kayode Egbetokun, asking him to investigate an alleged fraudulent diversion of over N20 billion funds by Adeoye. In the petition, dated 30 January 2024 and signed by 33 members—including Diasporan Nigerians resident in the United States, Canada, Australia and the United Kingdom—they alleged that Adeoye has been using his uniform to operate what they described as a Ponzi Scheme. “Sometime around 2017, we became ‘friends’ with Mr Adeoye on Facebook. At the time, he was serving in the African Union on secondment from Nigeria. He endeared himself to us and many others by projecting himself as a champion for victims of fraud and an upright man,” they wrote. “Often, he claimed to have come to the aid of persons who had been defrauded on Facebook. He got many accolades from many of us for these claims. As time will show, these claims were deliberate and well-planned effort by him to win the trust of many of us on Facebook as a precursor to launching his grand scheme.”
In 2018, according to the petitioners, Adeoye “proposed an investment club on Facebook, named Alpha Trust Investment Club (ATIC), aiming to pool funds for diversified investments, including joint property purchases. The idea gained traction due to Mr. Adeoye’s credibility as a senior police officer. Trust was high, leading to initial payments directly to his personal account. ATIC was later formally established under the Corporate and Allied Matters Act, growing to over 1,400 members by 2023.”
However, according to the petitioners, what is now happening “Centers on a lack of accountability, lack of proper structure, gross abuse of powers, intimidation, arbitrary punitive actions against members, negligence of duty, and a failure to adhere to regulatory requirements. All of these have cost members dearly.” After listing nine accounts domiciled in GTBank to which monies are paid with Adeoye as sole administrator, they demanded that he “be compelled to disengage from running the investments with immediate effect, with an undertaking not to touch or deal in any assets belonging to the Club, since his involvement in the scheme, and dealing in the business as a public servant, in the first place, is prima facially (sic) illegal ab initio and as a matter of law.”
There is nothing on record to suggest that Egbetokun acted on the petition. But a few weeks ago, PUNCH newspaper interviewed Adeoye who described the claims by those petitioners as “criminal defamation of character”. These were his words: “They are our members and started fomenting trouble. In the course of this, they issued threats. Someone who issues threats to others is a criminal. The person they want to haunt down is the largest shareholder, who has 11 million shares. If something is wrong with the finances, who is the first to know? What they are doing now is criminal defamation of character. When you defame a person criminally, that is a crime. The Board of Trustees met and expelled them; after they were expelled, they labelled the club Ponzi.
“We bought land as a cooperative. And we have one document for it in the name of the cooperative for each purchase. Am I supposed to tear the document into pieces and then begin to share them? We are an online investment platform. We published all the receipts and payments on our page, and every member sees them. We have created a lounge to process their settlement. We are writing to the developer to remove the parts of the bulk purchase for them and issue documents to them in their names. Developers charge 10% of the current value of the land for that. We are not asking them to pay us. They should pay directly to the developer. We will only certify them as our members for the process.”
I am still trying to process what this company is about. But there are even more critical questions that beg for answers. How can a Police Commissioner establish a ‘business’, ask the public to contribute funds that would generate returns, use his private accounts to receive such funds and claim ownership of the pool of money contributed by ‘shareholders’, after allocating 11 million shares to himself? And how could Adeoye have been diligent in his work as a law enforcement officer if he spent considerable time chasing money from people whose backgrounds he had no idea of—including those who could be criminals? Are there no regulations within the police that frown at a serving officer establishing and running a business venture, especially of this nature? Are police officers exempted from the code of conduct for public officials in Nigeria?
On Monday, there was an online post titled, ‘The audacious billionaire cop’ credited to a Mr Dauda Adesina Joki-Lasisi, a retired police officer. Joki-Lasisi (who claimed to have started his career in 1988 as a cadet inspector after training at the Police Academy in Kano) drew from his own moral examples and that of many others in the NPF to argue that money making is incompatible with the work of a law enforcement officer. He concluded his treatise with several posers. “In a service where the pension of a retired CP is not up to a N100K, what message was CP Adeoye sending to those still in service? Was it for them to embark on a rabid pursuit of money at all costs in order to secure their post-service life? And in that case, how wouldn’t these officers then compromise the sacred policing ethics by monetizing their services to the detriment of the masses and the security of the nation?” Joki-Lasisi asked. “I think retiring senior officers need to now be compelled to submit their valedictory addresses to the police authorities for vetting and possible censorship of any damaging content thereof, in order to prevent the recurrence of an embarrassing absurdity of this nature.”
I wish Adeoye well as he retires to the stupendous wealth that he has amassed for himself. But like Joki-Lasisi, I also believe that the NPF should be concerned about the reputational damage of his audacious disclosure. In my August 2021 column, ‘Beyond Abba Kyari’s Indictment’, I addressed a similar issue that borders on ethics in the police. The intervention followed the Federal Bureau of Investigation (FBI) indictment of a Deputy Commissioner of Police (DCP) then touted as a ‘Super Cop’. “By charging Kyari to their court, asking for his arrest, and placing emphasis on the fact that ‘he is a highly decorated deputy commissioner of the Nigeria Police Force …’, the FBI was implicitly making a connection between criminality and law enforcement in our country,” I wrote in the column. “There are lessons in this tragedy that should not be lost on the authorities in our country. Having allowed the police to degenerate as an institution, it is little surprise that many of their personnel now embody the worst vices of society.”
That a serving police officer would openly admit to being a billionaire resulting from running a curious business while still in uniform confirms the lack of accountability that defines public conduct in our country today. Yet, as I have also repeatedly stated on this page, when you run a system where there are no consequences for bad behaviour, it becomes easy for those who ordinarily should uphold the law to also become outlaws. Unfortunately, that is where we are in Nigeria today!
Remembering Ayogu Eze
On 11 January this year, I received an invitation card by WhatsApp from the late former Senate spokesman, Ayogu Eze for the wedding of his daughter. I immediately replied by congratulating him, asking that I be reminded a week to the event. “Thanks, my brother. I will send a reminder on February 2,” he responded. Of course, he never sent the reminder because, as I now know, he fell ill, and sadly, died last week. Ayogu Eze was a member of a professional chat group to which I also belonged before I exited last year when some members introduced toxicity into conversations. But I kept in touch with individual members. Yesterday in Abuja, I joined Mr Fred Ohwahwa, Dr Kingsley Osadolor, Hon Abdul Oroh and Mr Andy Ezeani to visit Mrs Nkechi Ayogu-Eze. As expected, the atmosphere was different from when she (and her now deceased husband) lavishly hosted us just about three years ago.
On a personal note, Ayogu Eze was a respected senior colleague with whom I exchanged ideas over the years. Scrolling through my handset yesterday, one stood out. It was in May 2020 during Covid-19. I had written a column that he enjoyed and decided to engage me. From our exchanges that day, I leave this warning from him to his colleagues in the political arena: “This (the issue I wrote about) is pathetic and at the same time symptomatic of the leadership recruitment process in our country…our governance model is characterised by theatre and showmanship, with zero substance. If we don’t change course, this joke will blow up in our faces, sooner or later.”
May God comfort the family Senator Ayogu Eze left behind.
An important development that occurred in the financial services industry the other week went largely unreported in the press; perhaps because the media is still engrossed in all the corruption dramas of the last few weeks. On Friday, April 26, Central Bank officials, led by a director, met with the chief executives of major fintech companies in the country and ordered them to discontinue onboarding of new customers. The CBN, I understand, has been dissatisfied with the manner with which the fintechs have been handling KYC checks in opening accounts for their customers and is convinced that such loopholes could be or have been exploited by money launderers and terrorist financiers in moving illicit financial resources. KYC (Know your customer) is the mandatory process undertaken by a bank to identify and verify their customer’s identity and address when opening account. Periodically, over time, those requirements are reinforced by the banks. I recently had to forward new utility bills to my account officer and perform BVN confirmation just to reactivate an account.
In addition to the provision of the utility bill by the customer, bank officials are expected to physically inspect the address provided by the customer. But the fintechs don’t have not been this diligent in verifying the identities and addresses of their customers and the authorities are convinced that these lapses could be exploited by the bad guys. A fintech customer only has to complete an online form and provide BVN, ID card and address. Among the top deposit-taking fintechs that attended the meeting with the CBN are Opay, Moniepoint, Palmpay and Kudak. Opay has however assured that it is committed to being compliant with all regulations. In a statement after the meeting, the company stated that it will ‘’support government efforts to clean up the financial industry’’.
The CBN’s order is coming a few months after it directed all financial institutions to collect ID cards before opening accounts for customers, voiding its 2013 guidelines which waived IDs to encourage financial inclusion. The order also coincides with a major crackdown on suspicious bank accounts by the authorities. Just last week, a Federal High Court in Abuja granted the EFCC an interim order to freeze 1,146 accounts belonging to persons and organizations being investigated for unauthorized forex transactions, terrorism financing and money laundering. In giving the order, Justice Emeka Nwite noted that ‘’preliminary investigations reveal that the bank accounts are linked to persons who take advantage of the virtual cryptocurrency exchange platforms to illegally manipulate the value of the naira and launder proceeds of unlawful activities’’.
The reason for all these feverish curbs is because authorities are worried that Nigeria’s fight against terrorism and money laundering has been poorly rated by the Financial Action Task Force (FATF), the global money laundering and terrorist financing watchdog. ‘’Nigeria has been grey-listed by FATF as of February 24, 2023 and this is very bad for us as a nation’’, a director at the CBN told this writer last week. South Africa and 22 other countries are also grey-listed. Grey-listed countries are those deemed to have deficient anti-money laundering and terrorist-financing mechanisms. There are two categories of grey-listed countries: those that are currently working hard with under FATF monitoring to address the lapses and those that are doing nothing about it for which stiff sanctions may apply. Obviously, our country is desperate to be taken off the grey list. But the hurdles are high.
The country has suffered severe security challenges in the last 15 years and its currency has undergone significant devaluations in the last one year or so partly due to the trading activities on the cryptocurrency platforms. Nigeria’s inability to arrest financiers of terrorism and the recent escape of an executive of Binance, a cryptocurrency-trading platform, from detention in Abuja are pointers to gaps in the nation’s security framework. By ordering the fintechs to discontinue further customer acquisitions, the CBN is hoping to tighten its surveillance on this component of the finance sector. The bank should go farther and scrutinize their books as keenly as they examine the records of the banks.
Across the world, the fight against financial crimes is not letting up. Financial crimes cause economic distortion, loss of control over economic policy, revenue loss and weakening of the integrity of financial markets. This week, the founder and former chief executive of Binance, Changpeng Zhao, was sentenced to four months in prison in the US after pleading guilty to violating that country’s laws against money laundering at the world’s largest cryptocurrency exchange. It is this same level of seriousness that the global community expects Nigeria to apply in its fight against money laundering and terrorism financing. Going after abusers of the Naira is good, but the nation will fare far better if big-time criminals are brought to book.
First, kudos to the Kukah Centre for organising recently a forum on the topical question of national integration. The success of the effort is a measure of the increasing relevance of the Abuja-based think tank. Cynics may dismiss such a platform provided by the Catholic Bishop of Sokoto, Bishop Mathew Hassan Kukah, as just another “talking shop.” But it is wrong to assume that issues in Nigeria have all been properly defined. So any serious gathering aimed at further clarification on the numerous problems would be in order.
The senator representing the Edo north district, Comrade Adams Oshiomhole, by his own admission, “invited” himself to the occasion. He felt the topic of discussion was an important one.
A clip of Oshiomhole’s contribution at the dialogue has since gone viral in the social media just like the clips of some of his recent statements on the floor of the senate. The indisputable fact is that Oshiomhole has been making truly progressive contributions to the debate in the national parliament. His background as a labour leader is manifest in the positions consistently taken in the course of debate. He has been remarkably flying the flag of the true labour tradition in Abuja.
At the Kukah Centre, Oshiomhole spoke on the central issues of the polity, economy and society. These issues include the class nature of the application of the rule of law; the funding of basic education; ethics and values; homosexualism and the economic trend of de-industrialisation as a cumulative effect of decades of failed policies.
He deplored the failure of the elite to give leadership that’s necessary for making progress while admitting that he is part of the system having been governor, party chairman and now a senator. Oshiomhole even made a critique of religious bodies and identified himself as a member of one of the marginalised minority ethnic groups in Nigeria. He is an Etsako man from the northern Edo. He said that the total population of the minority ethnic groups is a higher number than the totality of the majority ethnic groups. This, he said, would make the minorities to be the real majority if put together.
Expectedly, the video of the Kukah Centre event has generated diverse reactions. Oshiomhole has been justifiably applauded in some quarters as speaking for the common good and progress. From other perspectives, criticisms of his positions have been legitimately made in the true nature of public debates.
However, the latest video has also revived the seasonal Oshiomhole bashing which some pundits have made a pastime since the senator’s transition from labour activism to politics 17 years ago. Indeed the attacks on Oshiomhole have come from left, right and centre of the Nigerian ideological spectrum in the most uncharitable manner. In extreme cases, outright lies have been told to denigrate Oshiomhole.
Like any other activist turned politician, Oshiomhole has made his own serious mistakes. His errors have been both tactical and strategic in nature as he navigates the immense contradictions of Nigerian politics.
He readily admits this fact himself.
Pray, who is that politician who ever acts without committing errors?
The important thing is how the error is corrected going forward.
While it is legitimate to criticise Oshiomhole’s mistakes, it is utterly wrong to distort facts or tell half-truths in order to put him in bad political light.
Samples of the twisted stories circulating about Oshiomhole could be highlighted to demonstrate this point for historical purposes.
On November 29, 2013, Governor Oshiomhole was on an inspection of the work of a task force on environmental sanitation in the bid to beautify Benin. One of the offenders caught was a widow, Mrs. Joy Ifije, hawking by the road side. The poor woman begged for mercy as officials confiscated her wares. In a moment of indiscretion, the governor shouted at her: “go and die.” The ugly incident was widely reported and it naturally generated outrage from foes and friends of Oshiomhole alike. For instance, as friends, this reporter and his wife and fellow reporter, Funmi, angrily called the governor from Lagos telling him: “Comrade, this act of yours is unacceptable; it is unlike the Adams we know…” Oshiomhole’s daughter, Dr. Winnie Owumi, a urologist specialist, called from the United States also criticising her father with strong words for what happened.
Calmly, Oshiomhole responded to comments by simply asking what could be done to mitigate the damage.
As Oshiomhole later explained he received criticisms and suggestions from various quarters including, of course, members of his government.
The governor then took the following steps to correct the error. He invited the roadside trader to the government house as his guest. Over a cup of tea, the widow, accompanied by her son, received the unequivocal apologies from the governor.
On that occasion, Oshiomhole said inter alia: “Let me apologise for the way I spoke to you. I am very sorry about the statement. I have also realised that even in anger, one could still achieve the same result that he set out to achieve without provocative outburst. I apologise from the bottom of my heart. Sometimes you get angry when people compromise your efforts…”
The meeting ended with Oshiomhole appointing Mrs. Ifije as an ambassador on environmental sanitation. On some occasions, the lady went round the city with the governor to sensitise residents on the compliance with environmental regulations.
The governor gave Mrs. Ifije two million naira to get a shop and establish a more decent trading business. He offered to personally pay for the education of the widow’s son to the university level. The son is now a graduate. The trading business has flourished. The widow has built for herself a three-room bungalow in Benin. She calls Oshiomhole on phone occasionally to update him about her progress in life.
The later mitigation part of the story was widely reported just like the verbal assault on the roadside trader. But pundits conveniently ignore the good part when recalling the story to lampoon Oshiomhole over a decade later. Oshiomhole’s denigrators never forget the bad part of the story; but they pretend not to remember the happy ending of the incident.
That’s bad faith.
If politicians on the hustings could be excused on this score, it is certainly less than professional for newspaper editors, columnists and television anchors to conceal facts in order to demonise a political personality. .
In any case, how does the half-truth being told about this 2013 incident diminish the importance of Oshiomhole’s 2024 position that governors should fund basic education adequately so that out-of-school children could be taken off the street?
Another false allegation against Oshiomhole is that he once told a politician who decamped into the All Progressives Congress (APC) that his “sins are forgiven.” The insinuation here is that a politician could circumvent the law as a member of the ruling party. Oshiomhole never said such a thing. Here is the true story: As chairman of APC, Oshiomhole received into his party some politicians in Edo state who decamped from the Peoples Democratic Party (PDP). From the podium, Oshiomhole threw some banters at one of the politicians, Mr Iluobe. Roughly translated Iluobe means “I don’t do bad.” Oshiomhole said specifically of Iluobe that if he could act in the true meaning of his name, by not doing “bad’ even though he was moving from a “bad party, the PDP,” his “sins are forgiven no matter the bad things (he) did in PDP.”
Meanwhile Mr. Iluobe was not holding any political post at time. Neither was he being investigated or tried by any law enforcement agent.
Since the statement was made not a few top members of APC who have held political positions have been taken through the justice process by anti-corruption agencies in the same way that politicians from other political parties have been treated. Those who keep repeating the line of “your sins are forgiven’’ have not pointed to any case involving the politician in question, Mr. Iluobe, which was manipulated. Yet the utter misrepresentation of Oshiomhole’s statement has continued till this day.. The bogey of “godfatherism” of Oshiomhole is resurrected at every season of primary election in Edo state. Understandably, politicians seek his endorsement to secure the party ticket. Some of those who fail to win the ticket often turn round to accuse him of playing the “godfather.” The friction between Oshiomhole and his successor and erstwhile political ally , Governor Godwin Obaseki, is the most authoritative case cited in the trial of Oshiomhole in this respect. Meanwhile, it does not occur to Oshiomhole’s traducers that even Obaseki himself is no more singing the tune of “godfatherism” as he approaches the end of his tenure in Edo government House. Few months ago, Obaseki invited Oshiomhole to a forum where he honoured past governors of the state for their respective contributions to the development of the state. The two politicians made complimentary remarks about each other at the event. Only two days ago, Obaseki handed over to the Edo state chapter of the Nigeria Labour Congress (NLC), a secretariat complex constructed by the state government. The magnificent building is named “Adams Oshiomhole Labour House.”
Even in the heat of the last APC primaries, some commentators displayed in their fecund imagination Oshiomhole’s “political coffins.”
Yet, the former labour leader is still speaking for the common good in Abuja.
Oshiomhole should be steadfast in articulating the cause of the common good regardless of what the cynics may say.
To do so doesn’t even require a radical disposition because that is what any decent liberal should do in the Nigerian condition.
This position is inimitably formulated by a notable liberal scholar of the Harvard University, Michael Sandel, in his book, “Justice: What’s the Right Thing to Do?”
Writing on the “Politics of the Common Good,” Sandel puts the argument this way: ”If a just society involves reasoning together about the good life, it remains to ask what kind of political discourse would point us in the direction…The challenge is to imagine a politics that takes moral and spiritual questions seriously but brings them to bear on broad economic and civic concerns, not only on sex and abortion.”
The public sphere is impoverished when public intellectuals are so fixated in their concealed partisan positions to the extent of manipulating facts to justify their positions.
That is doubtless not in the public interest.
Happy May Day
The theme of today’s May Day cannot be more apposite: “Celebrating Workers Resilience and Contribution to National Development.”
To enhance the contribution, the method of labour may have to change in tactical and strategic terms.
While acting locally, the outlook should be global.
This is because the forces shaping the concept and the environment of work sometimes do not respect even national boundaries- climate change, technology, geo-political dynamics, pandemics etc.
Beyond perfecting their dexterity in collective bargaining, labour should muster the strengthen to influence policies by the sheer force of ideas. Labour must be properly equipped to defend its alternatives to policies. It should acquire the organisational capacity to mobilise not only workers, but also the whole of the society around the options of fundamentally fighting mass poverty and gross inequality.
With proper organisation the fight for social justice can be won.
Solidarity for Ever!
Wednesday 1st of May is Workers’ Day. A public holiday set aside to celebrate the dignity of labour as a critical factor of development. This year’s May Day in Nigeria assumes triple importance of history, democratic context and relevance. 2024 May Day marks the 44th anniversary of Workers’ Day as a national public holiday in Nigeria. There was once a democratic second Republic with competitive ideological politics led by popular parties and politicians. In 1980, late Governors Abubakar Rimi and Alhaji Balarabe Musa of Kano and Kaduna States under the platform of the Peoples Redemption Party (PRP) respectively declared May 1st a public holiday in show of solidarity with the demand of NLC led by its founding president, Alhaji Hassan Sunmonu. A year later, refused to be outperformed by the radical progressive left PRP, the conservative President Shehu Shagari of the National party of Nigeria (NPN) declared May 1 a national public holiday in appreciation of the dignity of labour. Of course globally the observance of May Day is long dated; almost a century and half. In 1886, Chicago police opened fire killing several demonstrating workers demanding for 8-hr working day. Subsequent workers’ protest, led to the death of some seven policemen. Police without evidence accused eight leaders of the Chicago workers’ movement of killing the police convicting all. Four of the workers’ leaders were executed, three were given life imprisonment! And that was a ‘democratic’ America which had proclaimed a libertarian constitution but without due respect for workers’ rights. May 1, 1889 the International Workers’ Congress in Paris declared in memory of the historic struggle of the Chicago workers! With the exception of the global lock down occasioned by COVID in 2020 a century long May Day celebrations had offered open global platforms for working men and women to demand for fairer distribution of global wealth between labour and owners of means of production. Even at that in 2020, there was a “virtual celebration” of dignity of labour . I recall that both IBB and Abacha military regimes dissolved the Executive Councils of the NLC in 1988 and 1995 respectively. But industrial affiliate unions nonetheless observed labour day despite the intimidation and harassment. Which then explains the democratic context of May Day celebrations over the years. It is democratic dispensation that proclaimed May Day in Nigeria. It is democracy that constitutionally allows for freedom of association, rights to unfettered organizing, the trade marks of trade union movement. Certainly organized labour must join democratic forces to deepen democracy which with all its dramatized shortcomings, constitutionally guarantees trade and human rights. 2024 May Day is also undoubtedly a celebration of 25 years of uninterrupted democratic dispensation in Nigeria since 1999.
This year’s May Day is the first since the inauguration of President Bola Ahmed Tinubu. What then the state of labour-government relations since May 29th 2023? Globally Labour -government relations is characterized by contestation and accommodation. With “four strikes in 9 months” according to the President, Nigeria is certainly not short of policy contestations since President Bola Tinubu initiated twin policy of inevitable fuel subsidy removal and foreign exchange market reforms which had fueled inflation, currency devaluation, high cost of living and challenged industrial relations more than ever before. However there is also a remarkable and commendable policy accommodation and cooperation under Ashiwaju led administration which has fostered relative industrial peace in the wake of daunting current economic challenges. Indeed there is a consensus among the stakeholders in the labour market that notwithstanding the impact of inevitable economic reforms on employment relations, organized labour, employers and governments had commendably taken the advantage of the country’s social dialogue and dispute resolution mechanism to minimize disputes and maintain relative harmony. Beyond, legitimate protests and strikes, trade unions, private employers of labour organized in Nigeria Employers Association (NECA) and government officials have signed thousands of agreements after worthy negotiations, compromises, workplace dispute prevention and dispute resolutions. Based on data available at the Federal Ministry of Labour and Employment the mission is to promote decent work, there has been relative industrial peace and industrial harmony. After open policy contestation as we have seen on subsidy removal, it eventually got resolved in policy accommodation between labour and government. Which means that trade unions’ struggles invariably compliment reforms for better inclusive outcomes .
The 2023 October 2nd 15-point Memorandum of Understanding (MOU) between organized Labour and government following the removal of fuel subsidy is a model framework for managing industrial relations at times of economic crisis. Since then that singular historic agreement is being implemented to the benefits of all the parties. President Bola Ahmed Tinubu had commendably implemented the agreement on payment of the Federal Government wage award of N35,000 (thirty-five thousand Naira) for all the Federal employees, pending when a new national minimum wage Federal Government. President Tinubu also acted Statesmanship in line with his labour- friendly disposition out of the Federal box urged the state governments to give same wage awards to their employees. The most significant is the inauguration of an inclusive 37-member tripartite National Minimum wage committee in line with President Tinubu’s Renewed Hope agenda on Tuesday, January 30, 2024. Negotiation is already ongoing which when concluded will usher in the 6th National Minimum wage since 1981. Again the point cannot be overstated: all National Minimum Wages (NMW) adjustment take place under democratic governments.(1981: President Shehu Shagari, 2000:President Olusegun Obasanjo, 2011: President GoodLuck Jonathan, 2018: President Muhammadu Buhari and 2024: President Bola Ahmed Tinubu). Minimum wage tripartite negotiations often involve bargaining, social dialogue and compromises on affordability and ability to pay by employers and employees alike. Negotiation is a democratic value that thrives where there’s constitutionalism, freedoms of association and assembly. Again only democratic dispensation guarantees unfettered negotiations. There are enough quotable quotes on minimum and living pay attributable to President Bola Ahmed Tinubu more than any President. Indeed every labour market observer agrees that 2024 minimum wage will promote ease of work and living among Nigeria’s working poor. In his 2023 May Day speech, Tinubu disclosed that “In the Nigeria I shall have the honour and privilege to lead from May 29, workers will have more than a minimum wage. You will have a living wage to have a decent life and provide for your families.” Organized labour certainly has a worthy ally in President Tinubu for a new National Minimum Living wage. ( NMLW). Also worthy of mention of the October agreement is the clause that says :
“All parties commit to henceforth abide by the dictates of Social dialogue in all our future engagements”.
For this clause to be realizable, the Federal government must rethink all the inevitable reforms to make them more inclusive and participatory of labour. The wealth of labour is better harnessed when labour is mainstreamed as a critical factor of development. Do not marginalize labour that creates wealth. There is also the need for “ A Just Transition” in managing reforms. Gradualist / spacing/ soft / strategic approach to reforms must replace “ big- bang”/ “tough”/ “shock therapy”/ “immediate effect” of undemocratic past military regimes. Conversely organized labour should rethink approaches to contestation. Certainly Contestation is inevitable if workers’ interests will be protected. But contestation must be complimented by proactive insistence to be at policy formulation tables. Government, for instance must expand the new Presidential Economic Advisory Council to include labour, employers of labour and not just business people and bankers, most who are permanently hunted by conflicts of bossiness interest. All the above call for constant improved labour education on labour management relations, which is the mandate of Micheal IMOUDU National Institute of Labour Studies ( MINILS).
Happy 2024 May Day.
Comrade Issa Aremu mni
Director General,
Micheal Imoudu National Institute for Labour Studies ( MINILS) Ilorin.
An impressive collection of dignitaries gathered at the Worship Center, Uyo, on Wednesday for a thanksgiving service to celebrate the 60th birthday of the Akwa Ibom State governor, Pastor Umo Eno. There were songs, prayers and speeches from many, but it was Mrs. Ekaette Unoma Akpabio, wife of the Senate President, who surprised the crowd the most with her profound philosophical rendition. One after the other, she recognized the dignitaries and had something nice to say about them. Gov. Eno; former Governor Udom Emmanuel; former President Goodluck Jonathan; political leaders, clergies, business leaders and traditional chiefs were all present. Gaily dressed women added a peculiar hue to the colourful event. When she got to the immediate past governor of the state, Mr. Udom Emmanuel, Mrs Akpabio went spiritual and philosophical, drawing both laughter and applause from the audience.
‘’I am here to represent our leader, our father, the father of Gabriel Udom Emmanuel’’, she said, referring to her husband, adding, ‘’and by extension, I am the mother of Gabriel Udom Emmanuel’’. There were laughs and applause. In 2015, Gov. Akpabio invited Udom Emmanuel, then an executive director at Zenith Bank, into partisan politics and made him governor of the state in a typical Nigerian succession politics. She continued, ‘’I want to thank you, your excellency, our immediate past governor, Gabriel Udom Emmanuel, for propelling us to go to the center. If you had not propelled us; if you had not moved, Akwa Ibom people would not have been at the position they are today. So, I greet you Sir. God ordered your footsteps’’.
Mrs. Akpabio was essentially recalling the frosty relationship between her husband and Mr. Udom Emmanuel, and how that turned out to a blessing for Akpabio. She was therefore grateful that God used Udom Emmanuel to ‘’propel’’ her husband out of Akwa Ibom politics into national politics. Now, soon after Udom Emmanuel succeeded Akpabio as governor, the relationship between the two broke down, something not uncommon in our politics. Akpabio had contested and won election to the senate in 2015, and so, the two men managed to keep their rancour from public knowledge for the first two or three years. In August 2018, Senator Akpabio decamped from the PDP to the APC, leaving his godson, Gov. Udom Emmanuel in the PDP. A big political turmoil erupted in the state, leading to Akpabio’s failure to win a reelection to the senate in the 2019. He became minister in 2019 and the political gulf between the two widened more and more. In 2023, he contested again for the senate, telling Akwa Ibom people that he would be the Senate President if he won. He won and, to the surprise of many, became Senate President, under APC while Eno became governor, succeeding Udom Emmanuel, under PDP.
Things now began to work differently. Eno discarded politics of war and quarrel, and reached out to Akpabio and others in APC, creating a never-seen-before political harmony in the state. Last year, Eno attended Akpabio’s inaugural ceremonies as senate president and since then, has been very deferential of the senate President. Akpabio has also reciprocated the gestures from the governor and yesterday, his wife represented him at Eno’s birthday celebration. This rearrangement of the contours of politics in the state therefore afforded Akpabio’s wife the opportunity to go spiritual yesterday.
Mrs Akpabio’s assertion that it was Udom Emmanuel who ‘’propelled’’ her husband to return to the senate and eventually become senate president is therefore correct, and reflects the depth of her spirituality. It’s a testament to an adage that says that when one door is closed, another is open. If Akpabio and his successor had not fallen out, maybe he would still have remained in the PDP and would not have become Senate President. The quarrel catapulted Akpabio to seek relevance in national politics. It is a classic case of turning a disappointment into a blessing. An English adage says that. ‘’If life gives you a lemon, turn it into a lemonade’’. My own favourite saying which I have on my WhatsApp profile is, ‘’If you stumble on the dance floor, make it part of the dance’’. The Bible expresses it differently. ‘’And we know that for those who love God, all things work together for good…’’ (Romans 8:28).
I was very pleased to hear Mrs. Akpabio, a devout Catholic, express her thoughts in this spiritual context. She had come to understand that her husband’s fight with his successor was his stepping stone to a higher responsibility. That’s why she told Udom Emmanuel yesterday, ‘’God ordered your footsteps’’. Many people have their own experiences of how personal disappointments have turned out to be a blessing. I have mine.
Whatever the disappointment that you face, look carefully, another door is open, or ajar. I will therefore advise Barr. Nyesom Wike and Mallam Nasir el Rufai to turn their quarrels with their successors into opportunity to do nobler deeds. There are other open doors for everyone out there!
[OPINION] The Race for AI Supremacy: How Leading Economies and Emerging Nations are Shaping the Future - Sonny Iroche
AdminArtificial Intelligence (AI) has emerged as a transformative force in the modern world, revolutionizing industries and reshaping economies. In the fast-evolving landscape of AI the leading nations such as the USA and China, have spearheaded a revolution in AI and positioned themselves as superpowers in the race for AI supremacy in this technological domain, with advancements in AI adoption closely tied to a nation's Gross Domestic Product (GDP). Following the USA and China, countries like the UK, the State of Israel, and the European Union have also made significant strides in AI development. The regulation of AI has become a crucial aspect in most leading countries to ensure ethical and responsible AI deployment.
The development of AI technologies by giant tech companies has propelled the industry into a trillion-dollar economy, marking a significant milestone akin to the discoveries of electricity, fire, and the internet. However, the success of AI requires substantial investment and robust infrastructure, such as reliable electricity and water supply, which are often lacking in many parts of the world, particularly in Africa.
The race for AI supremacy among leading economies could be traced to the era of the dot coms, gaining momentum with the introduction of groundbreaking AI models like ChatGPT by OpenAI in November 2022. Since then, tech companies have been producing a plethora of AI models that have had a profound impact on global technological advancement. And investing billions of dollars in research and innovation, as a result of what some observers call FOMO (Fear of Missing Out).
One of the greatest concerns amongst some African intellectuals in the AI race and development, is the place and capacity of Africa in AI readiness. Nigeria, with its recent National Artificial Intelligence Strategy Initiative (NAIS), in April 2024, has demonstrated leadership and a newfound commitment to establishing itself as a leader in AI on the African continent.
The NAIS brought together Nigerian AI experts, researchers, tech companies and enthusiasts from around the world to collaborate in Abuja, the capital city, to develop a comprehensive roadmap and framework for AI implementation in the country. Notably, international tech giant companies, such as Google, Microsoft, and Meta also participated in the four-day strategy session. The strategy session was facilitated by esteemed institutions like the Lagos Business School and Data Science Nigeria, under the guidance of Nigeria's Minister of Communications, Innovation, and Digital Economy, Dr. Bosun Tijani.
The breakout sessions during the NAIS covered crucial areas such as Research & Innovation, Infrastructure, and International collaborations, highlighting Nigeria's commitment to leveraging AI for driving innovation and sustainable development across various sectors.
The USA and China have been frontrunners in the global AI race, with both countries investing heavily in AI research and development to maintain their competitive edge. The USA, home to tech giants like Google, Amazon, and Microsoft, has been at the forefront of AI innovation, particularly in areas such as natural language processing, computer vision, and autonomous systems. China, on the other hand, with companies like Alibaba, Tencent, and Huawei leading the charge, has made significant strides in AI applications, particularly in areas like facial recognition, e-commerce, and smart cities.
The UK, Israel, and the European Union have also emerged as key players in the global AI landscape, with a focus on fostering AI talent, encouraging innovation, and setting ethical standards for AI deployment. The UK, known for its strong research ecosystem at the University of Oxford, Cambridge, Imperial College and other institutions, and supportive regulatory environment, has been a hub for AI startups and academic research in areas like healthcare, finance, and transportation. Israel, with its thriving startup culture and government support for AI initiatives, has excelled in AI technologies related to cybersecurity, agriculture, and defense. The European Union, through initiatives like the European AI Strategy and the AI Act, aims to promote trustworthy AI that respects fundamental rights and values.
In contrast, many African countries, including Nigeria, are still in the nascent stages of AI adoption and development. The lack of infrastructure, funding, and skilled workforce poses challenges to harnessing the full potential of AI for economic growth and societal development. However, initiatives like the NAIS in Nigeria signal a shift towards prioritizing AI as a strategic tool for innovation and progress.
As the global AI landscape continues to evolve, collaboration and knowledge sharing among nations will be vital for addressing common challenges and leveraging AI for the collective good. The race for AI supremacy is not just about technological advancement but also about ethical considerations, inclusivity, and sustainable development. By fostering a culture of innovation, investing in AI research and talent development, and establishing ethical guidelines for AI deployment, countries can harness the power of AI to achieve the Sustainable Development Goals, and Climate Change, and the fight against Insecurity, create a more prosperous and equitable future for the human race.
Sonny Iroche
Post Graduate Studies. Artificial Intelligence for Business.
Saïd Business School. University of Oxford. UK.
Linkedin.com/in/sonnyiroche
[OPINION] Garlands To High Chief Tom Ikimi as He Etches His Name in The Sands of Time - Mike Ozekhome, SAN
Admin
A famous Nigerian musician with the stage name, Patoranking, in his track, “Celebrate me”, admonished us on the need to celebrate and appreciate people while they are alive. High Chief Tom Ikimi, CON, FNIA KSG, D.Sc, the Akinrogun of Ife, the Inneh of Igueben, is, in the word of Patoranking, a “big name” and a towering figure in both stature and influence. He stands out as a beacon of resilience, wisdom, integrity and leadership.
High Chief Tom Ikimi, my elder friend and brother from Igueben, Edo State, was born on 10th April, 1944, in Kumba, Southern Camerouns. He attended the St. Joseph’s College, Sesse-Buea in Southern Camerouns; obtained a National Diploma in Building and Civil Engineering from the Midwestern Polytechnic, Auchi (the former Midwestern Nigeria, now Edo and Delta States); and a Bachelor’s Degree in Architecture from the Ahmadu Bello University, Zaria, where he was a prominent member of the Students Union and the National Union of Nigerian Students (NUNS).
As a top Nigerian politician, Ikimi has, over the years, held various high-ranking positions in the Nigerian political firmament and has been involved in helping to midwife different political parties throughout his career. He was a foundation member of the then Action Congress of Nigeria (ACN); and he led the party to win the 2012 Edo State Gubernatorial elections. He was also a foundation member and national leader of the Advanced Congress of Democrats, inaugurating the party in Edo state on February 21, 2006. Other party activities were honourably executed in the All Peoples Party (APP); the People's Democratic Party (PDP); and the All Progressives Congress (APC), the present ruling party.
The tenacious politician made a lasting mark as the pioneer Chairman of the National Republican Convention (NRC), one of Nigeria's two leading political parties during the transition to civilian rule in the early 1990s. His main rival was the Social Democratic Party (SDP) chaired by Babagana Kingibe. However, the Babangida military junta had with military dicta suddenly dissolved the Ikimi and Kingibe cabinets in October, 1992. Subsequently, Chief Tony Anenih (fondly called “Mr. Fix it”) became the Chairman of SDP, while Dr. Hahmed Kusamotu became Chairman of the NRC. The election that produced Chief M.K.O. Abiola who roundly defeated his closest rival, Alhaji Bashir Tofa, by 8,341,309 (58.36%) to 5,952,087 (41.64%) votes was held under this latter leadership. Ikimi had indeed been active in Nigerian politics since the 1980s and has played significant roles in various political administrations.
One major contribution made by High Chief Tom Ikimi towards strengthening democracy is his pioneering involvement in the founding of the ruling All Progressives Congress (APC) in Nigeria. He was one of the founding fathers of the APC. He played a key role in the merger of several opposition parties to form the APC in 2013. The formation of the APC provided a formidable platform for opposition politics in Nigeria; and eventually led to the party's victory in the 2015 presidential elections. This ended the 16-year rule of the People's Democratic Party (PDP). However, in 2014, Chief Ikimi quitted the APC as he accused the party leadership of ignoring national sensitivities in the administration of the fledgling party.
Chief Ikimi's political influence transcends mere party activities. Engaged in various movements advocating for democracy, good governance, and national integration, Ikimi embodies a commitment to Nigeria's political development. It is worthy of note that during General Olusegun Obasanjo’s regime, Chief Ikimi and other prominent figures faced deregistration from the PDP. This had exposed the party's agenda to eliminate internal opposition with a view to facilitating Obasanjo's self-succession and transmutation agenda. In sharp response to this, chief Ikimi rallied with trusted allies to establish the Movement for the Restoration and Defence of Democracy (MRDD). This movement not only effectively challenged Obasanjo's autocratic ambition; but it also championed democratic principles during these trying times.
On the diplomatic sphere, Chief Ikimi's illustrious career exemplifies a remarkable dedication to diplomatic excellence and global leadership. Ikimi had served as the Special Adviser to General Sani Abacha in 1994 during which he prepared the memo that led to the establishment of the highly successful Petroleum Trust Fund (PTF). He later served as Nigeria's Minister of Foreign Affairs in the heat of military dictatorship. Chief Ikimi's diplomatic acumen shone brightly throughout that turbulent era. In April, 1995, he graced the international stage, leading Nigeria's delegation to the Review/Extension Conference of the Parties to the treaty on the Non-Proliferation of Nuclear Weapons (NPT) in New York, where his eloquent delivery of Nigeria's national position left an indelible mark on the global scene.
Furthermore, his leadership was evident at the Ministerial meeting of the Coordinating Bureau of the Non-Aligned Movement (NAM) in Bandung, Indonesia. Throughout his tenure, Chief Ikimi's presence resonated at numerous international gatherings, including the 40th Anniversary Meeting of the Movement of Non-Aligned countries in Bandung, Indonesia, and the Ministerial meeting of the Coordinating Bureau of the Non-Aligned Movement in Cartagena, Colombia.
Ikimi’s role in representing Nigeria at various sessions of the United Nations General Assembly and Security Council, articulating Nigeria's stance on various issues with eloquence and authority, underscored his unwavering commitment to advancing the nation's interests on the global stage.
Before his political engagements, Chief Ikimi in the realm of professional calling, had established his own architectural practice in 1977. Over the years, he demonstrated remarkable prowess in executing a diverse range of projects, encompassing private residences, sports facilities, office complexes, and industrial buildings, both locally and internationally. Notably, his architectural firm achieved international recognition and fame when it won the prestigious competition for the design of the new OAU office and conference Centre projects in Addis-Ababa, Ethiopia. Recognized for his contributions in the field of Architecture, he attained the status of Fellow of the Nigerian Institute of Architects (FNIA). Beyond architecture, Chief Ikimi has cultivated successful business ventures spanning construction, trade, and farming, showcasing his versatility and entrepreneurship.
In recognition of his unquantifiable contributions to community development, Nigerian politics and public service, Tom Ikimi was honoured with the title of High Chief Oduma in his native Igueben Kingdom. “Oduma” simply means lion. Ikimi is indeed the roaring lion. While his career has seen both highs and lows, his achievements have left indelible footprints on Nigeria's political landscape.
Today, as I reflect on Chief Ikimi's illustrious journey, I am reminded of his unwavering commitment to service and dedication to the betterment of his country. Throughout his exemplary career, Ikimi has exemplified the noblest virtues of selflessness and sacrifice, always placing the needs of the country and others above his own. No wonder Pope John Paul II in 1993 honoured him with the revered Knighthood of St. Gregory the Great (KSG). Rivers State University of Science and Technology followed suit when he was honoured with the Honourary Degree of D.Sc (Architecture).
Chief Ikimi's leadership has been characterized by rare vision, foresight and wisdom in guiding countless individuals and organizations towards greater heights of success and prosperity. His innate ability to inspire and empower those around him has been instrumental in fostering positive change and development on both local and national scales.
Beyond his sterling professional achievements as an accomplished architect of global fame, Chief Ikimi is cherished for his warmth, compassion, empathy and humility. He possesses a rare gift of connecting with people from all walks of life, forging meaningful relationships and alliances built on trust, respect, and mutual understanding.
I celebrate Chief Tom Ikimi's today, not only for his remarkable accomplishments, but also for the countless lives he has touched and transformed. May the Oduma’s indelible legacy continue to inspire generations to come, serving as guiding light and beacon of hope for all who aspire to make a difference in the world. Through his smiles and affability, the taciturn Oduma lights up dark crevices, energises tired muscles and rekindles hope to the hopeless, hapless and vanquished citizens of Nigeria – the hoi folloi; the Frantz Fanon’s “Wretched of the Earth”.
Happy birthday to a great Pan-Nigerian patriot! May all your days be filled with joy and love in appreciation of all that you are; all that you have don; and all that you stand for.
Let me end this tribute to this towering Nigerian and luminous man of many parts by quoting Edgar Allan Poe, “Life is a song – sing it. Life is a game – play it. Life is a challenge – meet it. Life is a dream – realise it. Life is a sacrifice – offer it. Life is love – enjoy it”.
So, Oduma, enjoy life to the fullest as you hit the octogenarian age. Beyond this, receive Genesis 6:3. It is your portion.
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The recent allegations of embezzlement and fraudulent contracts against the management of Tertiary Education Trust Fund( TETFund)will be a big dagger piercing through the hearts of higher education in Nigeria as it is the only agency that has been commended hitherto for helping to bridge the infrastructural gaps in our tertiary institutions: universities polytechnics and Colleges of Education across the country.
As students strive for knowledge and educators labour to impart it, the rot festering within the corridors of the funding institution threatens to undermine their noble pursuits.
The Fund’s procurement process serve as fertile ground for corruption to flourish. It was recently alleged that in one instance, TETFund paid a whopping sum of N2.9 billion to a questionable contractor for unexecuted job and could not provide evidence for the execution of the contract, including the list of participants, links to the online portal for the training, and pictures or video clips of training sessions.
TETFund as an intervention agency was set up to provide supplementary support to all level of public tertiary institutions with the main objective of using funding alongside project management for the rehabilitation, restoration and consolidation of Tertiary Education in Nigeria.
It was established by the Act of 2011 after repealing the Education Tax Act Cap. E4, Laws of the Federation of Nigeria, 2004 and Education Tax Fund Act No. 17, 2003 and charged with the responsibility for imposing, managing and disbursing the tax to public tertiary institutions in Nigeria.
The main source of income available to the Fund is the two percent education tax paid from the assessable profit of companies registered in Nigeria. The Federal Inland Revenue Services (FIRS) assesses and collects the tax on behalf of the Fund.
However, beneath its lofty mandate lies a labyrinth of deceit, manipulation, and exploitation, perpetuated by those entrusted with its stewardship.
It is a disturbing truth that corruption has woven its insidious tendrils deep within the very fabric of TETFund and exacerbating the already dire state of the nation's academic infrastructure.
According to a report by Premium Times, five days before the end of the administration of former President Muhammadu Buhari, the Tertiary Education Trust Fund (TETFund) secretly awarded a contract worth over N3.8 billion (N3,812,500,000) in disregard for the law.
The said contact lacked any evidence of execution as investigations revealed further that the Fund paid the contractor a total sum of N2.9 billion (N2, 932,032,516.28) in four installments between 30 June and 17 November 2023.
Also in violation of the law establishing it, TETFund sourced the funding for the project from the 2023 annual direct disbursement budget domiciled in the agency for the use of about 251 beneficiary institutions, that is, public universities, polytechnics, and colleges of education across Nigeria.
The 2023 direct disbursement budget for these institutions which amounted to N15.2 billion was for Information Communication and Technology Intervention Projects. But instead of releasing the funds to the institutions as mandated by law, TETFund illegally deducted upfront 50 per cent of the funds from each of the institutions, amounting to a total of N7.6 billion.
It was also discovered that there was no evidence of bidding for the contract as demanded by Nigeria’s procurement law. Approval was neither sought nor given by the Federal Executive Council (FEC) or even by the President.
“TETFund bypassed these mandatory requirements to award the contract tagged: ‘Capacity Building Certificate Course (Communication, Entrepreneurship, and Productive Skill Development) inclusive of the Train-the-Trainer programme for 502 (five hundred and two) participants’” the report said.
Further investigation also revealed that the contract was awarded to a company – Fides Et Ratio Academy. The company has no functional website while it is described by TETFund as “an IP Licensee for Prof. Klaus Stierstorfer, a copyright owner and intellectual property right holder in all range of communication skills development courses marketed globally under Edunet Solutions.”
The letter of contract award dated May 24,2023 was signed by the Director of Human Resources and General Administration, Kolapo Okunlola.
However, upon enquiry by PREMIUM TIMES on the subject, the Bureau of Public Procurement (BPP), the body statutorily empowered to regulate contract awards for ministries, departments, and agencies of the government, said “the contract is not found in its database.”
The contract award is therefore a violation of the Public Procurement Act 2007, which by virtue of its section 15(a), as applicable to “all procurement of goods, works and services carried out by: the Federal Government of Nigeria and all procurement entities”. The law under section 15(c) only exempts the procurement of special goods, works and services involving national defence or national security.
Further findings revealed that on June, 30 2023, the company’s account with Fidelity Bank Plc was credited with over N550 million (N550,380,780.23) by the Central Bank of Nigeria on behalf of TETFund. The transfer is with mandate number CBN/PROJ/224/JUN2023. Over N820 million (N820,223,850) was additionally paid into the account on 12 July 2023.
While also on 26 July 2023 and 17 November 2023, the sums of N1.5 billion (N1, 503,743,850) and N62.68 million (N62, 684,036.05) were credited into the account by the CBN on behalf of TETFund, respectively.
Just recently too, the Human and Environmental Development Agenda (HEDA Resource Centre) petitioned the Economic and Financial Crimes Commission over alleged graft in TETFund.
The group urged the anti-graft agency to investigate alleged irregularities surrounding the contracts awarded by the agency.
The petition, which was addressed to Olanipekun Olukoyede, the Chairman of EFCC, was signed by HEDA’s Chairman, Olanrewaju Suraju.
Why the Economic and Financial Crime Commission has waded into the matter by inviting the Executive Secretary, Tertiary Education Trust Fund, Sonny Echono, to respond to cases of corruption against the Fund, mere dismissal of the deep rooted corruption allegation against TETFund by the Executive Secretary without tangible evidence to prove same amount to paying lip service to issues of endemic corruption plaguing the Nigerian society.
The politicization of TETFund exacerbates its descent into moral bankruptcy as positions of influence within the organization has become bargaining chips in the political game, with appointments based on loyalty rather than competence. Consequently, qualified individuals are sidelined in favor of cronies, eroding the institution's effectiveness and perpetuating a culture of mediocrity.
The impact of TETFund's ethical erosion reverberates far beyond the confines of its offices. It strikes at the very foundation of Nigeria's future, sabotaging the potential of an entire generation. As funds meant for education are squandered and opportunities are denied, the dreams of aspiring scholars are dashed against the rocks of corruption.
The exposure of TETFund's unethical practices serves as a clarion call for accountability and reform. It is imperative that swift and decisive action be taken to cleanse the institution of its moral rot and restore faith in the power of education to uplift and transform society.
Transparency must be enforced at every level, with stringent oversight mechanisms put in place to ensure that funds are allocated judiciously and utilized for the intended purpose. Those found guilty of corruption must face the full force of the law, serving as a deterrent to others who would seek to exploit the system for personal gain.
Furthermore, TETFund must reaffirm its commitment to meritocracy, appointing individuals of integrity and competence to lead the charge for change. Only through a concerted effort to purge itself of corruption and embrace ethical governance can TETFund reclaim its rightful place as a champion of education and a beacon of hope for Nigeria's future.
Like their counterparts in private tertiary institutions, TETFund must develop as a matter of urgency a model for governance structures characterized by a higher degree of professionalism and accountability. With boards of trustees comprising experienced educators, industry leaders, and respected professionals.
The Fund requires a framework for strategic guidance and oversight that prioritizes academic quality and institutional integrity and shun the often-politicization of its leadership where appointments are frequently influenced by partisan interests rather than meritocracy, leading to inefficiencies and mismanagement.
In the battle against corruption, there can be no bystanders. It is incumbent upon all stakeholders – government, academia, civil society, and the citizenry at large to unite in the fight to cleanse TETFund of its ethical impurities and pave the way for a brighter tomorrow. For in the words of Nelson Mandela, "Education is the most powerful weapon which you can use to change the world." Let us wield that weapon with courage and conviction, and together, we shall overcome.
Kalu Okoronkwo is a leadership and good governance advocate. He writes from Lagos via kalu.okoronkwo@gmail.com
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Nigeria, the most populous nation in Africa, is endowed with an abundance of natural resources, including crude oil, natural gas, coal, iron ore, and tin, among others. Despite being the largest oil producer in Africa and the 12th largest in the world, the country's citizens continue to grapple with the irony of fuel scarcity, high prices, and its far-reaching consequences on the economy and daily life. This article delves into the complexities of Nigeria's fuel situation, its impact on the citizens, and proposes solutions to address this perennial problem.
“Has the Ooni ever told the president that the worst road in the universe leads to his kingdom? Has he told the president that the N79.8 billion contract for the reconstruction of Ibadan-Ife-Ilesa road awarded in September, 2019 by his friend and villa mate, Muhammadu Buhari, has remained a contract for ghosts? Has he invited the president’s attention to the truth that since last year when he took over, the road has sunk even deeper in the mire of decrepitude? And, that even FERMA, a perennially rich agency that pretends giving palliatives on federal roads, has since seen the futility of stitching this rag? Or could it be that Kabiyesi does what our presidents since 1999 do – escaping road users’ pains by flying over our heads”?
One day, I will have the courage to ask the immaculate Ooni of Ife, Oba Enitan Ogunwusi, how he feels each time he travels on the horrible Ibadan-Ife road. Ben Okri, ‘The Famished Road’ storyteller, finds his own ‘road’ a torment – he says it “leads home and then away from it, without end.” Okri thinks the road a torment because he meets it “with too many signs and no direction.” The Ife-Ibadan road has signs, it has directions – and I find them very treacherously significant because they interlock fingers while road users lose life and limbs. The road has signs and directions to the very bowel of hell.
Olojo, the guardian divinity of the House of Oduduwa, is the famed owner of two machetes: with one machete, he prepares the field for the plants of tomorrow; with the other, he clears the road for prosperity (Ó fì’kan sán’ko/ Ó fì kan yè’nà). Those weapons must either now be blunt or lost. An Odu Ifa tells us something about Ile Ife and roads. It affirms that well-paved open roads start from Ile Ife. That affirmation today can only be treated on the operating theatre of irony. Could it be that truth has an expiry date and Ogbe’s truth of good, open roads in Ile Ife has expired? What we see today from the capital of Yorubaland (Ibadan) to the historical source of Yoruba people is the torment of a closed road that mocks the pathfinder-spirit of Oduduwa. The road does worse with its gaping craters and their threats of morphing into greater gullies. And it is a federal road.
Has the Ooni ever told the president that the worst road in the universe leads to his kingdom? Has he told the president that the N79.8 billion contract for the reconstruction of Ibadan-Ife-Ilesa road awarded in September, 2019 by his friend and villa mate, Muhammadu Buhari, has remained a contract for ghosts? Has he invited the president’s attention to the truth that since last year when he took over, the road has sunk even deeper in the mire of decrepitude? And, that even FERMA, a perennially rich agency that pretends giving palliatives on federal roads, has since seen the futility of stitching this rag? Or could it be that Kabiyesi does what our presidents since 1999 do – escaping road users’ pains by flying over our heads?
The reigning culture here is rooted in the ragged soils of our toil. I admit that badness is not peculiar to the Ife-Ibadan-Ilesa road. It is a national affliction that can’t be cured because of the greed of doctors who treat sick roads with fake and expired drugs.
We work hard to build roads that wear out before they are inaugurated. We have the interminable construction mess called Lagos-Ibadan Expressway. When did construction start there? When will it end – if it will ever end? How much have we sunk there? And, is it not a shame that the road is ready already for corrective surgery even before its makers are done making it? If you are a woman, and you are pregnant and your doctor tells you dancing is a ‘safe and fun way to exercise’, do not dance to the break beats of that road. It is made for abortion.
Ben Okri says “all roads lead to death” and “some roads lead to things which can never be finished.” Is that why our federal government’s roads are forever ongoing, none is ever finished or completed? Federal government’s statistics says out of Nigeria’s national road network of 200,000 kilometers, 36,289 km belong to it. Now, you ask Abuja which of its other roads, apart from the one from the Villa to Abuja airport, is good? Ask them why almost all roads that wear federal tags suffer neglect, abandonment or crass abuse.
My NYSC journey to the far north 34 years ago was on the Ibadan-Ilorin-Jebba-Mokwa-Yauri road. It was an experience in pleasantness. It is, today, a monument to frustration, a shrine to demons that feed on losses -human and material. The Ibadan-Oyo-Ogbomoso part of that road is one major reason why Nigeria should not have a federal government – or have roads managed by the Federal Government. There should be a coroner’s inquest on why that road was killed and who killed it. Without the states, the vehicle of Nigeria would have long lost its chassis. States keep doing what heart surgeons do when arteries are found blocked. They create bypasses, byways. A brand new 78-kilometre Iseyin-Ogbomosho road has just been built by Seyi Makinde’s Oyo State to escape the Federal Government’s death trap along that axis. A commenter online wrote: “The road has helped us to link northern Nigeria without using the dangerous Oyo-Ilorin road that has consumed so many lives…” The Oyo-Ilorin road of death spoken of here belongs to the government in Abuja.
Potholes jolt us to appreciate what bad roads represent in our lives. They tell us why the tyres of our country never last and why our rides are forever bumpy. Asking questions on why our roads are perennially bad is living the times of Ayi Kwei Armah’s ‘Two Thousand Seasons’: “A thousand seasons wasted wandering amazed along alien roads, another thousand spent finding paths to the living way.” Like Ouroboros, the self-tail-devourer, Nigeria’s ‘alien roads’ cyclically keep consuming the ‘living way.’
It is time to pound yam for the household, the idler among us goes for the heaviest pestle. This is better said in Yoruba: Òle bàá tì, ó gb’ódó nlá. There are abandoned federal roads everywhere which directly affect millions of Nigerians, but the government has moved the money to a 700km super coastal highway that will cost N15.6 trillion. The first phase is 47 kilometres, starting somewhere and ending nowhere, at a cost of N1.06 trillion. Should I just say that that N1 trillion will start and complete the reconstruction of decrepit Ibadan-Ife-Ilesa Road (224km), Ilorin to Bida (244.9km) and Shagamu to Benin (492km) if wisdom wills? Even at an inflated cost of N1 billion per kilometre, our husbands will achieve these and will even ‘collect change’. And Tinubu would have become very popular with it. But he wants a white elephant and has moved our money to purchase it.
White elephants are always expensive! Poet and journalist, Mathew Wills, in his ‘The Original White Elephant’ defines ‘white elephant’ as “something excessive that turns out to be valueless.” James A. Robinson and Ragnar Torvik in 2005 published an interesting article about the third world and deliberate bad investments – they titled their article: ‘White Elephants’. In that piece, they hold that politicians around here would always go for “white elephants” as against “socially efficient projects” because “the political benefits are large compared to the surplus generated by efficient projects.” That piece says much more than this. It is published in the Journal of Public Economics 89 (2005: 197-210). I think you should read it.
‘The Stolen White Elephant’ by Mark Twain is an interesting story on the cost of investing in big, expensive loss centres. It is the story of a fictional Kingdom of Siam. A reviewer says Siam is blessed with a “national appetite for fraud”. Another says it has officers of “pompous assumption of infallibility and ridiculous inappropriate procedures.” The “pointless” story is about an expensive search for a stolen white elephant, a further loss of hundreds of thousands of dollars in compensation and the eventual discovery of the rotting corpse of the supposedly stolen animal. The story ends with the duped narrator celebrating the man who duped him. It ends as the man pronounces himself “a ruined man and a wanderer in the earth.” In Studies in American Humour, Peter Messent (1995) does a lot of justice to it in his ‘Keeping Both Eyes Open.’ The whole story sounds Nigerian; what Fela called “expensive shit.” But I can argue that though we wander today, the past was a better experience.
“How can you develop a country rapidly if you can’t get about it?” Sir Rex Niven, pre-independence Speaker of Northern Nigeria House of Assembly, asked that question 69 years ago in relation to the state of roads in Nigeria. On January 27, 1955, Riven was asked to brief the Royal African Society and the Royal Empire Society in London on “Recent Developments in Nigeria.” He gave a very detailed account of himself as a British participant in the affairs of a key component of the Nigerian federation. Sector by sector, he spoke about efforts and failures. He particularly spoke on roads which he described as “the most important of the great aspects of development.” He said as he was speaking (in 1955), Nigeria had over 30,000 miles of roads whereas in 1920, “she had hardly any at all.” Then he used Kabba (in present Kogi State) to illustrate what he was saying: “The first province I went to, the newly constituted Kabba Province, had exactly 4 miles of road…but when I left Kabba four years later, there were over 200 miles of road.” Thirteen years later, the same Niven, in retirement, told the Commonwealth section of the Royal African Society on 11 November, 1969 that Nigeria had 40,000 miles of quality roads. That figure was even in spite of the ongoing civil war. Now, you ask: Why are our golden years always in the past? The past was obviously better handled.
There has been no remarkable uproar on the public-school collapse in Nigeria, affecting primary, secondary, and university education. Our leaders do not view it as a crisis. The reason is evident: there is a widespread trend among the garrulous upper class and middle class to send their wards and children to pricey private schools in Nigeria, with most of them sending their kids abroad. This dislocation between the elite class and public schools means that they are not only unmoved by its decay, but sometimes they are not even aware of the extent of the problem.
Increasingly, public school is becoming the domain of low-income people who need more resources to send their children to good private schools. Good education is no longer affordable and is a class issue in Nigeria today. The paradox is that today’s elite and middle class are products of a robust public school system that existed between the 1930s and 1990s in Nigeria. During these golden years of public school in Nigeria, it provided an environment that allowed individuals of different socioeconomic backgrounds to interact with one another while removing barriers based on race, class, and religion. These schools also provided young Nigerians with the life skills they need to be self-sufficient and productive, and many of the products of this public school system became global giants and are still making waves worldwide and nationally in various fields of human endeavour. Quality public education has been steadily declining, particularly since the 1980s, which has led to the nearly total collapse of the system we have in place today. There has been a discernible drop in our public school system’s overall level of instruction since the 2000s, which has alarmed the populace.
Nigeria has faced numerous challenges in providing quality public education for all its citizens. Economic downturns, political instability, corruption, and conflicts harm the education sector. Over the years, various education policies and reforms have been implemented to address the sector’s challenges. These include the Universal Basic Education (UBE) programme, which provides free and compulsory education for all children up to junior secondary school level, and efforts to promote technical and vocational education to address skills gaps. Despite these efforts, significant disparities in access to quality education persist. The failure of public education in Nigeria has been a longstanding issue, marked by various challenges and setbacks that have hindered the system’s ability to provide quality education.
These challenges include chronic underfunding of the public education sector, a significant issue in Nigeria. We know that government spending on education has varied over the years, but it has often fallen short of recommended benchmarks such as the UNESCO-recommended 15-20% of the national budget. This lack of funding has resulted in inadequate infrastructure and a shortage of qualified teachers and essential educational resources. Second, there is a lack or insufficiency of essential infrastructure, including classrooms, libraries, labs, and restrooms in public schools. Dilapidated buildings, overcrowded classrooms, and unconducive learning environment make it difficult for students to learn effectively and for teachers to deliver quality instruction. Third, the quality of teaching in public schools is often compromised due to factors such as inadequate teacher training, low motivation, miserable wage , and poor working conditions. Fourth, the curriculum used in public schools is only sometimes relevant to the needs of students or the demands of the modern world. It may lack emphasis on critical thinking, problem-solving, and practical skills essential for success today. Fifth, the disparities in access to education persist in Nigeria, with rural and marginalised communities often having limited access to quality schools and educational resources. Sixth, corruption and mismanagement within the education sector are our albatross. Funds earmarked for education may be misappropriated or embezzled, leading to a lack of accountability and transparency in the use of resources. It is little wonder that many state governments claim to make public education the centrepiece of their administration’s targets, yet little or no improvement is seen.
Addressing these issues requires concerted efforts from the government, civil society, the private sector, and international partners. But it also requires the active participation and support of each one of us. Priority should be given to increasing investment in education, improving teacher training and welfare, upgrading infrastructure, revising the curriculum to be more relevant and inclusive, and promoting access to education for all, especially marginalised groups. Additionally, efforts to tackle corruption and promote good governance are essential for building a more effective and sustainable public education system in Nigeria. Ironically, governments at both federal and state levels have paid lip service to public education over the years, leading to the rise of the private education sector to fill the gap. Although millions of children with no other option still receive their education in public schools, they are no longer the place teachers and students fervently desire to be. The clamour for private schools has led to the exponential rise in Nigeria’s private primary, secondary and tertiary schools. We, as citizens, as parents, as educators, as policymakers, have a role to play in reversing this trend and revitalizing our public education system.
A cursory look at statistics will show any keen observer that we are in a dangerous place with our future generation, most of whom will not get any meaningful education. We are cheaply mortgaging the future by continuing to underinvest in public schools. All we are doing is laying the groundwork for society to fail. It is not appropriate to do so. For instance, from 2018 to 2020, enrolment in primary school declined by 62,000 or 0.3% (from 22,384,755 to 22,322,234) in public schools but increased by about 82,000 or 1.51% (5,504,632 to 5,587,528) in private schools. Likewise, enrolment in public secondary schools increased by about 18% between 2016 and 2019, while in private secondary schools the increase is about 56%. Besides, the student-to-teacher ratio in public primary schools is about 1:49 (against the 1:35 recommended, while it is significantly lower, at about 1:30, in private primary schools. Relatively, more private schools are popping up in big cities than public schools, and the numbers are almost getting even in some cities. This trend is expected to continue this way unless there is a significant intervention to stop the decline in public school enrolment, especially in urban areas with substantial upper- and middle-class families. The urgency of the situation cannot be overstated. We must act now to save our public education system.
The problem with private education often is the cost. Quality education costs are so high that only a few Nigerians can afford it. Recently, some Nigerians were abhorred by the news of the cost of fees of British Charterhouse School (N43 million per annum) for its students. Most did not know that the school had a waiting list of over 1000 when it initially wanted only about 200 pupils. Other decent private schools cost millions of Naira yearly, and parents struggle to cover these costs. Ironically, private schools are not only about quality of education but also about class distinction. It is assumed that the more expensive the school is, the better the quality. Unfortunately, the current situation is a shift of emphasis to expensive private primary, secondary and tertiary education at the expense of public institutions. The solution lies in a conscious public sector policy revision that encourages a renewal of the public education sector through curriculum renewal, teacher retraining, infrastructure renewal and renovation. For instance, when former Governor Rotimi Amaechi of Rivers State revamped and modernised public schools with up-to-date modern facilities, parents began to return their wards to public schools that had become competitive with even the best private schools. Most recently I got involved in helping two state governments asses the state of education and I just wept but I could feel the seriousness and determination of the affected governors to fix the broken system.
I applaud the president’s plan to census the Nigerian school system to create the primary data for education planning and development. I sincerely hope that the federal and state governments give serious attention to our public education sector. No template exists in the world where a country develops its human resources through private education. All the developed countries we know of developed and sustained a robust quality public education system that is inclusive, equitable, and of high standards. Public schools in these countries are where the children of the rich, the poor, and even the migrants interact and learn in a melting pot of family, cultural, and racial diversity. Quality primary education is a fundamental right of every Nigerian child, and the government at all levels must be held accountable for failure to provide that. Today’s children live in a highly technological and scientific globalised world, and they compete locally and globally for survival and contribute to humanity. It is a disservice to them if they lack the basic literacy, numeracy, and creative skills they need to thrive and develop in Nigeria.
Mike Adenuga is one of the brightest stars in Africa—a remarkable man who has proven his adaptability and excellence in different industries. Today, the 71-year-old Nigerian billionaire celebrates his birthday as a symbol of his continued impact and creativity.
One of the few Nigerians on this year’s Forbes World Billionaires list is Mike Adenuga. He is currently the second wealthiest man in Nigeria, having made his mark in the banking, real estate, oil and gas, telecommunications, and aviation industries. Adenuga epitomises a self-made man.
Born on April 29, 1953, in Ibadan, Nigeria, to Oloye Michael Agbolade Adenuga Snr. and Omoba Juliana Oyindamola Adenuga, Mike Adenuga’s journey began in humble surroundings, with his father a schoolteacher and his mother a businesswoman.
His educational journey began at Ibadan Grammar School, and he then earned his higher school certificate from Comprehensive High School Aiyetoro.
Despite his modest beginnings, Adenuga’s determination propelled him forward. He worked tirelessly as a taxi driver to fund his university education.
He graduated from Northwestern Oklahoma State University and Pace University with degrees in Business Administration before pursuing an MBA at Pace University in New York.
Adenuga attributes much of his success to his mother’s influence, acknowledging her role in shaping his formidable work ethic.
At 26, his relentless drive struck gold. His diverse business ventures culminated in his first million dollars, a stepping stone to his grand ambitions.
His business acumen is undeniable, as reflected in his estimated net worth of $6.7bn by Forbes. But Adenuga’s legacy extends beyond wealth. He is a true inspiration, demonstrating the power of hard work, vision, and an unwavering entrepreneurial spirit.
His diverse portfolio spans telecommunications (Globacom), oil exploration (Conoil Plc), banking (Sterling Bank), real estate (Cobble-Stone Properties), and construction (Julius Berger). Adenuga is a true “Jack of all trades” and a “master of all”.
Telecoms
Adenuga’s fearless approach to risk-taking was evident when he delved into the telecommunications industry race after Nigeria opened its doors to GSM licenses.
Despite initial setbacks, his determination remained unwavering. Eventually, in 2003, he successfully secured a license and launched Globacom.
By 2001, Adenuga had already established himself as a prominent figure in Nigeria’s economy. When the opportunity arose with the Obasanjo administration offering GSM licenses, he naturally joined the competition. Despite facing a setback and losing $20m in the process, Adenuga was resolute.
His persistence paid off handsomely as he returned stronger, securing a license that paved the way for Globacom’s emergence as a future national telecom leader.
Launched in 2003 with the ambition to become Nigeria’s telecom giant, Globacom swiftly established itself as a game-changer under Adenuga’s astute leadership.
Despite entering the market two years after its competitors, the company, propelled by Adenuga’s vision, became known for its innovative approaches.
It championed per-second billing, a revolutionary concept that democratised phone usage for Nigerians, solidifying Globacom’s status as a trailblazer in the telecommunications industry.
Globacom, with over 60 million subscribers, has continually pushed boundaries in the telecommunications industry, pioneering various network technologies such as 2.5G, 3G, and 4G LTE.
Constantly setting new standards, Globacom has been at the forefront of innovation.
One of its most significant achievements was the launch of Glo-1, a groundbreaking intercontinental submarine cable project that transformed internet connectivity in Nigeria.
With a staggering investment of $250m, solely funded by Globacom, Glo-1 marked the first of its kind in Africa.
Stretching over 9,800 kilometres, the cable links Nigeria to Europe and America, with landing points along the West African coast and Europe.
This monumental infrastructure upgrade significantly enhanced internet speed and reliability for voice, data, and video services.
Beyond its impact on individual users, Glo-1 provided vital connectivity for key sectors such as oil and gas, banking, and education.
This transformative project underscores Adenuga’s foresight and dedication to shaping Nigeria’s technological landscape.
Despite the chaos that ensued a few months ago due to a major cut in submarine cables, telecommunications subscribers across Nigeria and several other African countries found themselves in a state of panic.
There were reports that the outage, which affected internet users in South and West Africa, might continue for several weeks. Among those significantly affected were banks and telecom organisations, heavily reliant on those cables for internet services.
However, amid the turmoil, Globacom subscribers remained unaffected. They continued to enjoy uninterrupted internet connectivity and other services throughout the outage.
This resilience serves as a testament to the strength and foresight of Globacom, a company that has made substantial investments in infrastructure development.
Such an achievement directly reflects the vision of Adenuga, the founder and chairman of Globacom.
His forward-thinking approach to prioritising infrastructure has firmly positioned the company as a dependable service provider, capable of weathering unforeseen disruptions with ease
Oil and gas
His influence extends beyond the realm of telecommunications; he is also a significant figure in Nigeria’s oil and gas industry. Adenuga saw an opportunity when Gen. Ibrahim Babangida’s (retd.) administration opened the door for indigenous participation.
Despite initial hesitations, Adenuga boldly invested over $100m in exploration and drilling activities.
His gamble paid off in 1991 when Consolidated Oil, his company, achieved a historic milestone by becoming the first Nigerian company to discover and produce oil in commercial quantities.
Today, Conoil Producing Limited, formerly Consolidated Oil, stands as a trailblazer in Africa’s indigenous oil and gas exploration and production sector.
This pioneering spirit continued as Adenuga identified potential in the National Oil and Chemical Company. He acquired the company, infused it with fresh investments, and rebranded it as Conoil Plc.
Conoil’s success story is remarkable. It has become a household name in Nigeria, boasting a network of over 450 retail outlets across the country.
Adenuga’s vision and strategic investments have solidified Conoil’s position as a key player in Nigeria’s oil and gas landscape
It is a leader in modern retail formats, including mega stations and non-space pumps, and holds the top spot in the aviation fuel market.
His leadership has propelled Conoil Producing to operate six promising oil blocks in the Niger Delta, with a daily production of approximately 20,000 barrels.
Its 27-year track record is further bolstered by substantial oil reserves, estimated in millions of barrels, and vast gas reserves in trillions of cubic feet.
Adenuga’s significant stake (74.4 per cent) in Conoil Plc underscores his commitment to the company’s continued success.
Conoil’s strong market presence is built on its expertise in supplying a wide range of petroleum products, from petrol and diesel to kerosene and aviation fuel.
Its “Quatro” brand of lubricants is another testament to its diversified product line.
Banking
Adenuga’s foray into banking began with the establishment of Devcom Bank and Equitorial Trust Bank. Both institutions became trailblazers in their fields, contributing significantly to the development of the public, commercial, and retail sectors.
Their financial strength shone brightly during the 2005 banking consolidation exercise. ETB effortlessly met the N25bn capital requirement, a testament to its stability and avoiding the need for a stock market offering.
This achievement solidified their position as major players in the Nigerian financial landscape.
However, Adenuga’s vision extended beyond individual success. Recognising the potential for further consolidation, he orchestrated the strategic merger of ETB and Devcom Bank, which laid the groundwork for an even more formidable presence in the industry.
Years later, the merged entity consolidated further, joining forces with Sterling Bank Plc.
Today, Adenuga remains a significant shareholder of the resulting behemoth, Sterling Financial Holding.
This publicly traded giant, a testament to Adenuga’s astute financial strategy, operates two key subsidiaries: Sterling Bank Plc, a cornerstone of traditional commercial banking services in Nigeria, and Alternative Bank Limited, a pioneering force in Nigeria’s non-interest banking sector that offers innovative financial solutions.
Aviation
The billionaire businessman is also playing actively in Nigeria’s aviation sector. His company, Conoil, boasts an aviation arm, Conoil Aviation, actively involved in the aviation sector.
Conoil Aviation plays a key role in keeping Nigerian airplanes fuelled. It handles the entire process, from production and storage to transportation and delivery of jet fuel in at least six major airports across the country: Nnamdi Azikiwe International Airport, Abuja; Margaret Ekpo International Airport, Calabar; Mallam Aminu Kano International Airport, Kano; Murtala Muhammed International Airport, Lagos; Maiduguri International Airport, and Sokoto airport.
His foundation
Beyond his accomplishments in business, Adenuga is also well-known for his generosity and unwavering commitment to philanthropy.
His altruistic efforts have touched the lives of countless individuals and celebrities alike.
Established by the business titan, the Mike Adenuga Foundation stands as a beacon of pan-African philanthropy.
Rooted in the belief of fostering social and economic empowerment across Nigeria and other African nations, where the Mike Adenuga group of companies operates, the foundation is committed to catalysing positive transformations in these regions.
Through a diverse array of initiatives, it endeavours to harness resources, cultivate skills and knowledge, ignite innovation, drive social and economic progress, fortify infrastructure, widen educational access, improve healthcare systems, foster partnerships between nonprofits and governmental bodies, promote commerce, empower local enterprises, and elevate living standards.
At its core, the foundation prioritises critical areas such as health, rural development, education, entrepreneurship, and providing special opportunity grants.
Distinguishing itself from conventional grant-giving entities, it strategically aligns with stakeholders and beneficiaries to conceive and execute impactful programmes.
The foundation donated N500m to aid flood victims in Bayelsa State.
Through its actions and collaborations, the Mike Adenuga Foundation assumes a pivotal role in advancing philanthropy and effecting positive change across African societies.
More than just offering aid, its mission is to empower Nigerians and other Africans by creating enduring solutions that propel social and economic progress.
During the height of the COVID-19 pandemic, Adenuga demonstrated remarkable leadership by being among the first to donate N1.5bn towards combating the dreaded coronavirus scourge.
In addition to offering crucial assistance in handling the situation, his proactive initiative encouraged other Nigerians to support the cause. This exemplifies Adenuga’s characteristic leadership style: he leads by example, prompting others to follow suit.
In Adenuga’s words, “How much money can one individual or his family enjoy? You must spread it and touch lives; that is what brings true happiness and joy. What’s the point if your friend is wealthy and it doesn’t show in his friends?”