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In Nigerian ‘Cash-and-Carry’ Politics, Ambition Is Only Constant

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  • In Nigerian ‘Cash-and-Carry’ Politics, Ambition Is Only Constant

At recent rallies of Nigeria’s ruling All Progressives Congress for next year’s general elections, the list of speakers is often dominated by former members of the opposition People’s Democratic Party who switched sides.

Former ministers, two-term governors and other senior officials who served with the PDP during its 16-year rule take turns to denounce the “corruption and waste” of their erstwhile party while touting the virtues of President Muhammadu Buhari’s ruling APC.

It’s an illustration of the state of Nigerian politics, where parties are merely a means to power and wealth, with actors propelled neither by ideology nor principle. Known locally as “cash-and-carry politics,” success is often measured by gaining access to the treasury and dispensing patronage. Fueled by the country’s oil wealth over the past 50 years, the presidency is the supreme prize.

“It’s a capture of state power for personal use rather than service to the people,” said Clement Nwankwo, executive director of Abuja-based Policy and Legal Advocacy Centre, who has monitored all Nigerian elections since the end of military rule in 1999. “When a chosen party is not delivering on those objectives, the average politician will look for what else could be the platform to achieve that.”

Election Victory

Buhari, a former general who overthrew an elected government in 1983, stood as a presidential candidate for three different political parties in elections from 2003 to 2011. It was fourth-time lucky three years ago when his was the first opposition victory since Nigeria gained independence from the U.K. in 1960.

A likely contender in next year’s vote is former Vice President Atiku Abubakar, 71. He defected to the PDP from the APC in December, the second time he returned to the party in a decade after pursuing his presidential ambition elsewhere. Abubakar even has an insurance policy. If he doesn’t win the PDP nomination this time, his loyalists have already lined up a new party for him — the People’s Democratic Movement.

The opposition is now sensing vulnerability in Buhari a year before general elections. Critics say he’s failed to fulfill his pledges to fight corruption, focusing more on political opponents, and was too slow in responding to the country’s worst economic slump in a quarter century, triggered by a plunge in the price and the output of crude, its main export.

The government has responded by saying it has made progress against the Islamist insurgency in the northeast while initiating major rail, power and road projects to revive the economy.

Politicians with presidential aspirations are heartened by Buhari’s apparent failure to deal with a widening conflict over grazing land, secessionist demands in the southeast and the continuing Islamist militant attacks, said Idayat Hassan, executive director of Abuja-based Centre for Democracy and Development.

She cites a “failure of the Buhari administration, and importantly, a failure of the Nigerian political class.”

A total of 68 parties so far have been registered for the 2019 vote by the Independent National Electoral Commission.

Coalition Troubles

Buhari has struggled to keep the coalition that brought him to power together. Much will depend on the attitude of Bola Tinubu, the 65-year-old southwest political leader whose support was vital to Buhari’s victory three years ago and who the president has asked to help reconcile badly riven APC factions.

The president has been at loggerheads with Senate President Bukola Saraki, a two-term state governor under the PDP who defected to the APC before the 2015 elections. The 54-year-old Saraki, who’s nursed presidential ambitions in the past, has with the support of other lawmakers successfully frustrated Buhari’s legislative agenda by withholding important approvals.

Pressure is mounting on the 75-year-old president, who spent a total of more than five months last year receiving treatment in London for an undisclosed ailment, not to run. He hasn’t said if he’ll seek a second term.

Poor Management

Former President Olusegun Obasanjo last month asked Buhari not to seek re-election, accusing him of nepotism and poor management of the country’s affairs.

While they remain a long shot with general elections just a year away, new movements have emerged in recent weeks urging voters to reject both the APC and the PDP. Besides the Coalition for Nigeria that Obasanjo supports, they include the Red Card Movement led by Obiageli Ezekwesili, a former minister and ex-vice president of the World Bank, and the Nigerian Intervention Movement headed by human-rights lawyer Olisa Agbakoba.

“We had hoped the system would correct itself, but we now see the mess the APC has become,” Agbakoba said in a phone interview from Lagos, the country’s biggest city. “We’re tapping into the existing anger to disrupt the current political system.”

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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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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