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Constitution Amendment or Legislative Coup? Our Legislators Have Gone Mad Again

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Nigeria's National Assembly

In April 2015, former President Goodluck Jonathan declined assenting his signature on the 2015 proposed amended 1999 Constitution citing irregularities in its passage, whittling down the powers of the President by the legislators, and transferring some of these powers to themselves (and to the judiciary).

Three items featured in the 2015 Constitution amendment. They are;

  1. LIFE PENSION for the Senate President, Speaker of Representative, Deputy Senate President, and Deputy Speaker of the House.
  2. Immunity for the aforementioned office holders from arrest and criminal prosecution
  3. Stripping of the President the power to assent or veto any constitutional amendment. Meaning, they (legislators) should be both the only players in the process.

Nigerians were lucky that the former President not only refused to assent his signature but also approached the Supreme Court through the Attorney General of The Federation to halt the proposed bill, which the court did in May 2015.

Now it appears that the legislators have ‘gone mad’ again by reviving such items in the ongoing constitution review.

THEIR IMMORAL DEMAND FOR LIFE PENSION

As at today, many states are having difficulty to meet financial obligations to state workers and execute projects, yet they are still mandated by their state laws to pay huge money to former Governors and their Deputies in the name of pension irrespective of the offices these former state executives occupy after leaving office.

It is even funny that some of these Senators like Senate President Bukola Saraki, Sani Yerima, Muhammed Goje, Godswill Akpabio, George Akume etc were not only exGovernors but are heavy beneficiaries of the pension largesse at their respective state level chiefly due to the immoral pension that they proposed and signed into law when they were in office. Yet, they still want more money in the name of life pension to add to their already bloated financial war chest at the masses expense.

The non former Governors among them like Sen Ike Ekweremadu, who is the Chief leader of the proposal seem to want to join the train of those that are feeding fat (for life) on government resources.

Is it not immoral and wicked that after enjoying fat salaries and allowances while in office, the legislative leaders want to keep feeding fat outside office just like the former governors?

THE IMPLICATION IF PASSED

Should the legislators have their way, it means that SP Saraki will be entitled to DOUBLE life pension from Kwara state and federal government.

It also means that people like Governors Aminu Mansari and Saminu Tambawal of Katsina and Sokoto states respectively will be entitled to fat salaries/allowances as Governors, Life pension as Former Speakers, and life pension as former governors when they leave office.

This will also attract more outgoing governors to seek solace in the Senate and fight for SP or DSP offices to ‘enlarge their coast’. This will also attract more former speakers and Deputies to seek election to be Governor or Deputy in order to legally enlarge their financial powerhouse. How sustainable is this?

Let us imagine that a former Speaker/deputy is elected to serve his state as Governor. After serving the state, he was further elected to go to the Senate and eventually made Senate President or Deputy Senate President. Then he moved up to emerge Presidential candidate or running mate to a candidate, and emerge victorious. What is the implication with respect to the controversial proposal?

It simply means the man will be entitled to a life pension as former President/Vice, Governor/Deputy, Speaker/Deputy, and Senate President/Deputy. Who says politicians are not smart?

I’m sure that if this is allowed, it won’t take long for Speakers and Deputies at the state level to ‘help themselves’ out.

ON ISSUE OF IMMUNITY FOR NASS LEADERS:

In the first instance, the concept of immunity for governors and their deputies is irresponsible and absurd. Even the United States whose democracy we look up to don’t have such arrangement. While we are calling for the stripping of Governors and Deputies of immunity, the legislators are coming with their own immunity demand.

Already, these legislators enjoy immunity from prosecution on anything they say or do on the floor of their respective chambers, why are they seeking for more if not that they have to protect their skeletons?

STRIPPING THE PRESIDENT ASSENT POWERS:

I think the legislators need to be reminded that the concept of democracy demands checks and balance. Stripping the President the power of Assent simply means introduction and promotion of legislative coup. They want to be the people to make laws and shove same laws down the throat of Nigerians via the instrument of the law. This is highly irresponsible of them, and won’t be allowed to stay.

This is tantamount to legislative coup.

SECTION 9 OF THE CONSTITUTION SHOULD BE AMENDED:

Section 9 of the Constitution that deals with the process of amendment of the 1999 CFRN need to be amended to give the masses role to play in the amendment process.

Specifically, sub sections (2) and (3) that vest power to amend constitution on at least 2/3 members of both Chambers of the National Assembly, and resolution of at least 2/3 States Houses of Assembly should be amended by stripping the state legislators of such of power, and vesting same on the people through INEC organised and well monitored referendum.

This is the only true way Nigerians can be said to be part of the process.

HYPOCRISY OF SOUTHERN LEGISLATORS:

I shall end this piece by expressing disappointment in legislators from the southern region, specifically the southsouth and southeast.

Before the amendment kicked off, majority of these legislators including DSP Ike Ekweremadu, Senator Ben Murray Bruce of twitter fame, and several others were always quick to shout how restructuring and true federalism is best for the country. Instead of these people to be the chief promoters of restructuring and true federalism in this ongoing amendment, they preoccupy themselves with only amendments that would favor them. Very unfortunate…

May God Bless Us All and Bless Nigeria

Is the CEO/Founder of Investors King Limited. A proven foreign exchange research analyst and a published author on Yahoo Finance, Businessinsider, Nasdaq, Entrepreneur.com, Investorplace, and many more. He has over two decades of experience in global financial markets.

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Lagos Eyes Investment Surge as Sanwo-Olu Unveils Growth Strategy

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sanwo-olu

Governor Babajide Sanwo-Olu of Lagos State is spearheading a bold push to attract significant investment inflow to boost the state’s economic growth.

During a Pre-Summit Investor Roundtable at the Africa Social Impact Summit (ASIS 3.0), held at Eko Hotels and Suites, the governor outlined strategic opportunities for investors.

With the theme “Invest Lagos – Investment Opportunities,” the summit was organized by the Sterling One Foundation in collaboration with the Ministry of Commerce, Cooperatives, Trade, and Investment.

Attended by business leaders, chambers of commerce, and industry captains, the event underscored Lagos’ potential as a hub for economic activity.

Sanwo-Olu highlighted Lagos’ positive economic outlook, citing an expanding population and sustainable infrastructure as key growth drivers.

Despite challenging business environments, the state’s economy has shown resilience, welcoming new investments while sustaining existing ones.

The governor emphasized reforms aimed at improving the ease of doing business. He mentioned that digitizing services had reduced bureaucratic hurdles, fostering a stable business climate.

Sanwo-Olu assured potential investors of the state’s commitment to creating a supportive environment that ensures returns and security for investments.

“In the last five years, Lagos’ GDP has grown by 50 percent,” Sanwo-Olu stated. “We aim to sustain this growth and ensure the gains of the past years are not reversed.”

Sanwo-Olu identified sectors ripe for investment, including transportation, tourism, health insurance, and waterways. He expressed the government’s dedication to advancing development plans in these areas.

Commissioner for Commerce, Cooperatives, Trade, and Investment, Mrs. Folashade Ambrose-Medebem, highlighted Lagos’ economic strides, noting that the state’s GDP had increased from N27 trillion to N41 trillion in five years.

She detailed strategic investments, particularly the allocation of N550.7 billion for infrastructure in 2024, and the commitment of N44.33 billion to food security initiatives.

Sterling Bank’s Managing Director, Mr. Abubakar Suleiman, pointed out that economic growth in Africa is often hindered by an unstable investment climate.

The summit aimed to build investor confidence by fostering trust and transparency in business environments.

“Lagos remains a leading destination for investors,” Suleiman noted. “The state provides clarity and access to markets, maintaining consistency in its investment strategies.”

Sanwo-Olu’s administration continues to focus on diversifying Lagos’ economy through strategic investments in various sectors.

The state’s proactive approach has positioned it as a global city and an emerging African financial center.

The governor’s initiative is expected to further solidify Lagos’ reputation as a prime investment destination, paving the way for sustained economic growth and development.

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Vice-President Harris Gathers Momentum as Democratic Nominee

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Kamala Harris

Vice-President Kamala Harris has secured the support needed to become the Democratic nominee for president.

This was after President Joe Biden announced he would not seek re-election, endorsing Harris as his successor.

According to CBS News, Harris has received endorsements from over 1,976 delegates, surpassing the threshold needed to clinch the nomination in the first round of voting at the Democratic National Convention (DNC) scheduled for August.

Delegations from at least 27 states have expressed full support, showcasing a strong backing across the nation.

In her address to campaign staff in Wilmington, Delaware, Harris expressed gratitude for the widespread support, adding that she committed to uniting the party and the country.

“We have 106 days until Election Day, and in that time, we have some hard work to do,” she stated.

Harris laid out her vision for America, contrasting it with that of her likely opponent, Donald Trump.

Speaking on the direction of the campaign thus far, she said “Our campaign has always been about two different versions of what we see as the future of our country. One focuses on the future, the other focuses on the past.”

She acknowledged the accomplishments of the Biden administration, highlighting her pride in serving as vice-president.

“My time serving as vice-president was one of the greatest honors of my life,” Harris said, underscoring her dedication to continuing the work they started.

In a phone call to his campaign team, Biden praised Harris, urging his supporters to rally behind her. “I’m hoping you’ll give every bit of your heart and soul that you gave to me to Kamala,” he said.

Despite stepping back from the race, Biden vowed to remain actively involved in supporting Harris and emphasized the importance of defeating Trump, calling him “a danger to this nation.”

Harris’s nomination marks a significant milestone, but challenges remain. The campaign will focus on addressing key issues such as healthcare, climate change, and economic inequality.

With millions of dollars pouring into her campaign since Biden’s announcement, Harris aims to capitalize on the momentum and build a coalition that appeals to a broad spectrum of voters.

As the DNC approaches, Harris is expected to formally accept the nomination, solidifying her position as the Democratic leader.

The coming months will be crucial as she works to unite the party and reach out to undecided voters. With her historic nomination, Harris stands poised to make a lasting impact on the future of American politics.

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President Declines Nomination, Endorses Harris for 2024

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In a significant political announcement on his X.com account, President Joe Biden has decided to forgo the opportunity to seek re-election in 2024, instead throwing his full support behind Vice President Kamala Harris.

The surprise move, shared with the public this morning, represents a pivotal moment in the Democratic Party’s journey toward the upcoming presidential election.

In his statement, Biden said that his choice to step aside is driven by a desire to concentrate on his remaining duties as President.

He expressed gratitude for the opportunity to serve alongside Harris, calling her selection as his Vice President in 2020 “the best decision” he has made. “My fellow Democrats,” Biden began, “I have decided not to accept the nomination and to focus all my energies on my duties as President for the remainder of my term.”

The President’s announcement signifies a strategic shift in the 2024 election landscape. By endorsing Kamala Harris, Biden not only aims to consolidate support within the party but also to set the stage for a unified front against former President Donald Trump.

“Today I want to offer my full support and endorsement for Kamala to be the nominee of our party this year,” Biden declared. “Democrats — it’s time to come together and beat Trump. Let’s do this.”

This endorsement comes as a surprise to many, given Biden’s earlier commitment to seeking re-election.

However, it reflects a broader strategic maneuver to ensure party unity and strengthen the Democratic position in the face of a formidable opponent. By focusing on Harris, Biden aims to leverage her growing popularity and political acumen to fortify the party’s chances in the upcoming election.

Kamala Harris, who has served as Vice President since January 2021, will now be thrust into the spotlight as the presumptive Democratic nominee.

Her campaign is expected to build on the legacy of the current administration while addressing key issues facing the nation.

The move also raises the stakes for the Republicans, who will need to prepare for a robust campaign from a seasoned political leader in Harris.

As the 2024 election cycle ramps up, Biden’s endorsement is likely to reshape the dynamics of the race, influencing both Democratic strategies and Republican responses.

The coming months will be critical as Harris and her team work to solidify their platform and rally support from voters across the nation.

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