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Unpaid Salaries of Former Presidents

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Buhari FG
  • Unpaid Salaries of Former Presidents

It was a good development that the Federal Government’s inability to pay salaries and allowances of former presidents in the last 10 months was not ignored by the news media.

The Secretary to the Government of the Federation (SGF), Babachir Lawal, who disclosed the development recently to members of the Senate Committee on Federal Character and Inter-Governmental Affairs in Abuja, said President Muhammadu Buhari could not approve the payments to the former leaders because of lack of funds. Those affected include Shehu Shagari, Olusegun Obasanjo, Goodluck Jonathan, Ibrahim Babangida, Ernest Shonekan, Abdusalami Abubakar, Yakubu Gowon. They have been owed for 10 months.

The revelation underscores the fact that leaders at all times should continue to pay attention to health of the economy while in office so that every citizen’s future including theirs can be guaranteed. This is one lesson African leaders most of whom like to read the biography of Singapore’s legend, Lee Kuan Yew without imbibing any lessons about nation building. The Singaporean leader, who ruled the country from June 1959 to November 1990, lifted his country from Third to First world.

The news media is awash daily with reports that the nation’s economic system has been wrecked and virtually broken down. Specifically, the country is at the moment experiencing a terrible economic recession. A system that is import-dependent is experiencing a foreign exchange crunch to the extent that citizens are finding it difficult to transact international business with a weak currency in the foreign exchange market. The economic system has been so bad that Nigerian leadership is seeking to return the country to a debilitating debt trap we painfully exited in 2006 when the Paris Club forgave us $18 billion out of the country’s $38 billion and we paid a whopping $20 billion. Nigeria is bidding to borrow about $30 billion ($29.9 billion) to stimulate development and lift the country out of the murky waters of recession. The National Assembly has asked for more details of the comprehensive foreign borrowing the President had tabled before it. If the loan request is approved, it would push Nigeria’s total external debt stock, which stood at $11.262 billion as at June this year to $41.162 billion after three years, when the borrowing plan would have been fully executed.

The former president’s salary crunch story broke at a time 33 out of 36 states were unable to pay salaries of their workers in Nigeria. There is a sense in which we can claim that most of the former leaders being owed at this time have contributed to the parlous state of the economy one way or the other when they were in office. A literature review of the Nigerian governance system has always revealed casual approach of former leaders to economic management in the country.

For their yesterday, most of the former leaders had eaten our tomorrow. In other words, it is their years of locusts that we are suffering collectively as a nation today. We sympathise with a few of them who may not have been involved in questionable acquisitions that they can rely on. In any case, their simplistic approach to governance matters has not helped matters too, in this connection.

So, today’s economic trouble is consequent upon years of unmitigated plundering, greed and avarice that permeate the polity. All of these are attributable to poor leadership that we have been experiencing since military truncated democracy in 1966. The 1963 Republican Constitution that clearly provided for federalism principle that was in place until 1966 accelerated development and competitive spirit in the four regions that were in the country then. It wasn’t for trite reasons that a foremost author and public intellectual, Professor Chinua Achebe noted in his classic, The Trouble with Nigeria published in 1983 on the eve of President Shehu Shagari’s second term opens with the following words: The trouble with Nigeria is simply and squarely a failure of leadership.

There is nothing basically wrong with the Nigerian character. There is nothing wrong with Nigerian land or climate or water or air or anything else. The Nigerian problem is the unwillingness or inability of its leaders to rise to the responsibility, to the challenge of personal example, which is the hallmark of true leadership…

It is unfortunate that more than 33 years after Achebe’s lamentation about poor leadership, the trouble is still manifesting and festering quite remarkably. That is why the former leaders cannot be treated as innocent bystanders, in this regard: They contributed to the present decay. And so, without exception, everyone is bearing the brunt of misrule. Nobody should be more entitled to a better life than others. The plight of millions of teachers and workers who stay penniless for months without salaries should arouse deeper concern than that of former leaders.

Meanwhile, in the spirit of transparency that rules the day now, there should be complete disclosure of what the nation pays the few former leaders who are being owed for 10 months. It is in our character to hide salaries and emoluments of public officers. What our leaders earn is mostly shrouded in mystery. Only an embattled ‘whistle blower’ in the House of Representatives has for the first time spoken about some hidden allowances of Nigeria’s federal legislators. That has not gained traction in the public square too. There are no details about how to trail public expenditure in the country. How much we use in maintaining our leaders from local governments to the presidency is a top secret. Citizens too should take advantage of Freedom of Information Act (FOIA) to ask questions, no matter how the difficulties public officers mount on the way. We should insist on full disclosure of all financial transactions in this democracy. It is a fundamental right to know facts of governance in a democracy. It is a remarkable dividend of democracy.

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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Government

EFCC Declares Former Kogi Governor, Yahaya Bello, Wanted Over N80.2 Billion Money Laundering Allegations

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Yahaya Bello

The Economic and Financial Crimes Commission (EFCC) has escalated its pursuit of justice by declaring former Kogi State Governor, Yahaya Bello, wanted over alleged money laundering amounting to N80.2 billion.

In a first-of-its-kind action, the EFCC announced Bello’s wanted status in connection with the alleged embezzlement of funds during his tenure as governor.

The commission, armed with a 19-count criminal charge, accused Bello and his cohorts of conspiring to launder the hefty sum, which was purportedly diverted from state coffers for personal gain.

The declaration of Bello as a wanted fugitive came after a series of failed attempts by the EFCC to effect his arrest.

Despite an ex-parte order from Justice Emeka Nwite of the Federal High Court, Abuja, mandating the EFCC to apprehend and produce Bello in court for arraignment, the former governor managed to evade capture with the reported assistance of his successor, Governor Usman Ododo.

This latest development shows the challenges faced by law enforcement agencies in holding powerful individuals accountable for their actions.

However, it also demonstrates the unwavering commitment of the EFCC to uphold the rule of law and ensure that justice is served, irrespective of the status or influence of the accused.

In response to the EFCC’s declaration, the Attorney General of the Federation and Minister of Justice, Lateef Fagbemi, issued a stern warning to Bello, stating that fleeing from the law would not resolve the allegations against him.

Fagbemi urged Bello to honor the EFCC’s invitation and cooperate with the investigation process, saying it is important to uphold the rule of law and respect the authority of law enforcement agencies.

The EFCC’s pursuit of Bello underscores the agency’s mandate to combat corruption and financial crimes, sending a strong message that individuals implicated in corrupt practices will be held accountable for their actions.

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Concerns Mount Over Security as National Identity Card Issuance Shifts to Banks

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NIMC enrolment

Amidst the National Identity Management Commission’s (NIMC) recent announcement that the issuance of the proposed new national identity card will be facilitated through applicants’ respective banks, concerns are escalating regarding the security implications of involving financial institutions in the distribution process.

The federal government, in collaboration with the Central Bank of Nigeria (CBN) and the Nigeria Inter-bank Settlement System (NIBSS), introduced a new identity card with payment functionality, aimed at streamlining access to social and financial services.

However, the decision to utilize banks as distribution channels has sparked apprehension among industry stakeholders.

Mr. Kayode Adegoke, Head of Corporate Communications at NIMC, clarified that applicants would request the card by providing their National Identification Number (NIN) through various channels, including online portals, NIMC offices, or their respective banks.

Adegoke emphasized that the new National ID Card would serve as a single, multipurpose card, encompassing payment functionality, government services, and travel documentation.

Despite NIMC’s assurances, concerns have been raised regarding the necessity and security implications of introducing a new identity card system when an operational one already exists.

Chief Deolu Ogunbanjo, President of the National Association of Telecoms Subscribers, questioned the rationale behind the new General Multipurpose Card (GMPC), citing NIMC’s existing mandate to issue such cards under Act No. 23 of 2007.

Ogunbanjo highlighted the successful implementation of MobileID by NIMC, which has provided identity verification for over 15 million individuals.

He expressed apprehension about integrating the new ID card with existing MobileID systems and raised concerns about data privacy and unauthorized duplication of ID cards.

Moreover, stakeholders are seeking clarification on the responsibilities for card blocking, replacement, and delivery in case of loss or theft, given the involvement of multiple parties, including banks, in the issuance process.

The shift towards utilizing banks for identity card issuance raises fundamental questions about data security, privacy, and the integrity of the identification process.

With financial institutions playing a pivotal role in distributing sensitive government documents, there are valid concerns about potential vulnerabilities and risks associated with this approach.

As the debate surrounding the security implications of the new national identity card continues to intensify, stakeholders are calling for greater transparency, accountability, and collaboration between government agencies and financial institutions to address these concerns effectively.

The paramount importance of safeguarding citizens’ personal information and ensuring the integrity of the identity verification process cannot be overstated, especially in an era of increasing digital interconnectedness and heightened cybersecurity threats.

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Israeli President Declares Iran’s Actions a ‘Declaration of War’

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Israel Gaza

Israeli President Isaac Herzog has characterized the recent series of attacks from Iran as nothing short of a “declaration of war” against the State of Israel.

This proclamation comes amidst escalating tensions between the two nations, with Iran’s aggressive actions prompting serious concerns within Israel and the international community.

The sequence of events leading to Herzog’s grave assessment began with a barrage of 300 ballistic missiles and drones launched by Iran towards Israel over the weekend.

While the Israeli defense forces managed to intercept a significant portion of these projectiles, the sheer scale of the assault sent shockwaves through the region.

President Herzog’s assertion of war was underscored by Israel’s careful consideration of its response options and ongoing discussions with its global partners.

The gravity of the situation prompted the convening of the G7, where member nations reaffirmed their commitment to Israel’s security, recognizing the severity of Iran’s actions.

However, the United States, a key ally of Israel, took a nuanced stance. President Joe Biden conveyed to Israeli Prime Minister Benjamin Netanyahu that, given the limited casualties and damage resulting from the attacks, the US would not support retaliatory strikes against Iran.

This position, though strategic, reflects a delicate balancing act in maintaining stability in the volatile Middle East region.

Meanwhile, Russian Foreign Minister Sergei Lavrov and his Iranian counterpart Hossein Amir-Abdollahian cautioned against further escalation, emphasizing the potential for heightened tensions and provocative acts to exacerbate the situation.

In response to the escalating crisis, the Nigerian government issued a call for restraint, urging both Iran and Israel to prioritize peaceful resolution and diplomatic efforts to ease tensions.

This appeal reflects the broader international consensus on the need to prevent further escalation and mitigate the risk of a wider conflict in the Middle East.

As Israel grapples with the implications of Iran’s aggressive actions and weighs its response options, President Herzog reiterated Israel’s commitment to peace while emphasizing the need to defend its people.

Despite calls for restraint from global allies, Israel remains vigilant in safeguarding its security amidst the growing threat posed by Iran’s belligerent behavior.

The coming days are likely to be critical as Israel navigates the complexities of its response while international efforts intensify to defuse the escalating tensions between Iran and Israel.

The specter of war looms large, underscoring the urgency of diplomatic engagement and concerted efforts to prevent further escalation in the region.

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