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OBA ADEYEMI III: A postscript and a song

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If any man held a position for nearly 52 years and made a habit of turning heads and wowing audiences even as an Octogenarian, you have got to give him enormous credit.

What Oba Adeyemi III embodied was a fusion of his personality with the historically chequered stool of the Alaafin of Oyo. A studious voyage into Oyo history will reveal that very few Alaafins ruled without one serious crisis or the other. From the dethroned to the exiled; from the disgraced to the murdered. Oyo even had an interregnum for 80 years. This means Oyo was in such debilitating disarray, it was an exiled dynasty with no real leadership for 80years. No other kingdom other than extinct ones has that kind of history.

It follows that whoever becomes an Alaafin wears a potentially problematic crown. Uneasy lies the head that wears the crown.

Oba Adeyemi III certainly had a delicately vulnerable youth. He was his father’s favourite. Alaafin Adeniran had seen bodily marks and spots on Prince Lamidi immediately after he was born in the same areas he, the father, had. He had the hunch the baby would be future royalty. In a household of about 200 wives and Prince Lamidi’s mother, Ibironke, having passed away when Prince Lamidi was an infant, Alaafin Adeniran had to protect him from harm. He first sent the Prince to live with an Anglican school teacher and disciplinarian in Oyo. Later, he arranged for the young Prince to gain royal tutelage in the household of the Alake of Egbaland, Oba Oladapo Ademola, in Abeokuta.

Unfortunately, the Alake started having running battles with market women in his domain chiefly about taxation. The confrontations or protests were led by Funmilayo Ransome Kuti and Eniola Soyinka (Wole Soyinka’s mother). They chased the Alake away from his palace. He abdicated his throne and was exiled to Oshogbo. Prince Lamidi followed him there and saw the tribulations firsthand.

Prince Lamidi later found his way to Lagos where he lived in the household of Sir Kofo Abayomi, an ally of his father. It was while he was in Lagos that his father suffered the same fate as the Alake of Egbaland.

In Oyo, Alaafin Adeniran was facing civil/political battles of his own. There was political unrest in Oyo. Also, Chief Bode Thomas, an erudite lawyer and minister, had died mysteriously after an altercation with the monarch. The Action Group leadership pointed accusing fingers at the monarch who was a staunch supporter of the rival NCNC led by Nnamdi Azikiwe.

In the aftermath of political unrest in Oyo Town in 1954 which claimed six lives including Pa Gbadamosi Afojna (father of ex-minister and former Chairman of First Bank, Prince Ajibola Afonja), the regional AG-led government suspended and de-stooled Alaafin Adeniran. Sir Richard Lloyd QC, senior crown counsel to Nigeria’s Governor-General Sir John Macpherson, headed an inquiry into the unrests. The Commission of Inquiry’s recommendations fell short of expressly exonerating the Alaafin but it thought that elected representatives ought to show more tolerance to older members of the Oyo Divisional Council, including the Alaafin, on account of their difficulty to adapt to a new system. The AG-led government of the Western Region nevertheless deposed the Alaafin and exiled him to Iwo-Oke and later Ilesha.

I bet Prince Lamidi lapped up all the excruciating details of his father’s travails and swore revenge. The deposed Alaafin would later move to No 31, Egerton Lane, Lagos, the home of Alhaji N.B Soule, a wealthy NCNC stalwart who offered all material support to the deposed monarch. Alaafin Adeniran died there in 1960.

In Lagos, Prince Lamidi had taken to boxing, a sport that guarantees physical and mental toughness. He would later work with an insurance company. When his father’s successor, Oba Bello Gbadegesin Ladigbolu, joined his ancestors in 1970, it was a tug of war between Lamidi and other contenders to the throne. While Prince Sanda ‘Ladepo Oranlola was seen by many as people’s favourite, Prince Lamidi’s nomination was confirmed by the appointing authorities and he ascended the throne in January 1971. That came with the assistance of certain well-connected indigenes of Oyo, notably Chief E.O. Ashamu.

I would say Oba Adeyemi III’s 51-year reign was marked, in my view, by his adherence to the 48 Laws of Power applicable to anyone with supreme authority. The ones he did not wield are the ones below the status of a first-class monarch. He deliberately picked the trajectories of his kindness and also his revenge. He was unforgiving to those he thought disgraced his father. He meticulously timed his reprisals. He drew some of them close before he pounced on them.

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I heard and confirmed a story of one of them. He was reported to be one of those who led a chorus of songs to mock his exiled father. He died but his son sought a Chieftaincy title in the town during Oba Adeyemi III’s reign. The Alaafin led him on by giving a “commitment” that he would be installed as chief in a pool of contenders. An installation date was picked. There was pomp and merriment on the grounds of Oyo palace. The chief-in-waiting came with his people. The Alaafin came to the forecourt of the palace to meet them. Surely, the installation would happen. So they thought. The Alaafin motioned the vociferous crowd to be quiet. He hinted that before the installation, the crowd would help him to give a chorus to a song. The crowd was excited. The drummers were poised. The chief-in-waiting was all smiled. The Alaafin rendered the song strung together to mock his exiled father immediately after he was deposed. Many people in the crowd, including the chief-in-waiting, got the hint. They dared not give any chorus. You could hear a pin drop. The Alaafin asked why there was no chorus. Dead silence. The Alaafin stormed back into the inner recess of the palace. There would be no installation. It was revenge perfectly exacted. Whether or not he should have taken a route like that is left to an individual’s interpretation of Karma.

Upon ascending the throne, Oba Adeyemi III primed himself to give truly royal impetuses to the institution of the Alaafin. What he didn’t get in terms of certificated qualifications, he made up for with a supremely admirable sense of history served in the most knowledgeable, candid, sometimes controversial, and witty manner. He had a solid grasp of both Yoruba and English languages. His choice of adjectives and mastery of diction was top-notch. If you hated him for any reason but had a chance encounter with him, your hatred of him would dissipate, even if for the moment.

He was indeed a controversial Oba. Sometimes for good reasons, as an indigene of Oyo, you just wished he did certain things differently. If he was not an Oba or a boxer, a sport he loved till his last breath, I bet he would have been a terrific lawyer. He knew his onions and deployed all his arsenals to fend off any circumstance that would challenge the status of his institution. He fought through the court’s certain incursions that came from Ooni Okunade Sijuade in a supremacy battle in the old Oyo State. As the feud reached a combustible crescendo, Osun State was created. Both historical stools went their separate ways. The supremacy tussle left the battlefield of government offices and the courts to have mere academic and bragging rights significance. Oyo owes him and his descendants a debt of gratitude for always standing firm in the affirmation of the supremacy of his throne. He never wavered. He never faltered. He never capitulated. He never failed. He had almost everything HIS WAY.

My study of Oba Adeyemi started within my own family. He was at the early part of his ascension very close to my uncle, Mr. Muraina Oyedemi Afonja, of blessed memory. My uncle was well-traveled, urbane, happy-go-lucky, and financially sound. He arranged Oba Adeyemi’s first-ever travel to the western world. He took the Kabiyesi to London and also arranged to have his first daughter, Princess Akofade, in a school in England. Both would soon have personal differences and they fell apart. To be candid, the Alaafin recorded a very good number of falling apart with allies. I don’t know the causes of the estrangements but collaborating with many of them would have been in the best interests of Oyo Town and the institution of the Alaafin.

I was a constant visitor to the palace. I went there as a child to watch cultural events and also football on a dusty pitch on the west side of the palace. I became friends with his son, Prince Akeem (now a second-term member of the House of Representatives), during the time we attended St Francis Nursery and Primary School together. That friendship continued at Olivet Baptist High School. There was a blackout in Oyo around June/July 1993 and the final of the Under 17 World Cup was to be played between Nigeria and Ghana. I met Akeem in school and asked if I could come to the palace to watch the final. We had no generator in our own house. He obliged by telling me he would meet me at the palace gate by 9 am. He was there on time. We walked towards the palace’s expansive quarters and Kabiyesi was doing a light workout close to the palace mosque. In absolute awe, I prostrated fully. He greeted me. Akeem introduced me. Remembering framed London pictures of the Kabiyesi and my uncle hung in the latter’s sitting room, I quickly told Kabiyesi I am a nephew to Mr. Muraina Afonja. He beamed and said nice words about him. It was my first personal meeting with the Kabiyesi. I thereafter followed Akeem into the living room of Prince Babatunde Adeyemi, the Alaafin’s first son, where we watched the World Cup final.

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I would meet him personally again after I became a lawyer. He had suggested to a surveyor to find a young lawyer who would work with the surveyor in the administration of certain stool land. I was before the Kabiyesi. He offered me a seat. I felt trepidation but he put me at ease. He gave the instructions and I commenced the job. I must’ve made up to #5 million on the job before my foray into politics drew me away from him and the job, partly due to my political naivety, as I felt I was not safe with Alaafin’s affinity with a rival political party. I met him again in 2014. One of his chiefs was in police trouble. He mentioned that I should handle the matter. I resolved the case within hours at Iyaganku. The chief insisted I must accompany him to thank the Kabiyesi. I did so reluctantly. Kabiyesi had traveled but we got feelers that he was on his way back to Oyo, so we waited. He came in and he saw me among the hordes of visitors who milled around his car to greet him. “Lawyer, o ya ma bo kin tete da e loun”. I followed him sheepishly into a living room where I narrated the circumstances of the case to him. He asked if I’d been paid. I applied native intelligence and said “Kabiyesi, eyin le ran mi n’ise”. He reached for a leather purse, unzipped it, and retrieved a wad of mints which he handed to me.

Despite publicly aligning with the Muslim faith and at one time the Amir-Ul-Hajj for Nigeria, he was the father of all. He attended church programmes when necessary and could copiously quote from the Bible. There was a time some Islamic clerics declared opposition to certain parts of the Egungun festival routine. It was an incendiary moment. War was imminent. The Alaafin stood firm and erred on the side of tradition.

His sense of tradition was patent in the way he preserved much of the palace’s old architecture. He did not embrace swanky modernity. While the palace is not particularly modern, its identity as a palace of grand royalty is unmistakable. He dressed the way a Yoruba monarch should dress. Regaled in beauty, style, panache, and comportment, Oba Adeyemi was always a star attraction. His outfits from his dog-ear (abeti aja) cap to his shoes left no one in doubt about what true royalty should be. Never outlandish. Just adequately regal. When he was in the mood, he treated onlookers to a sui generis dance move that culminated in the forward thrust of his right leg for a light stomp on the ground. Classy.

He had the carriage, the swagger, the looks, the speech, the show of love, the elicitation of fear, the compassion, the mean streak, the never-say-die attitude, the mischiefs, the magnetic aura, the eye for opportunities, the penchant for spotting talents and the knack for picking the best brains to his fullest advantage. In a place like Oyo where people had a history of turning against their king, he needed to be all this. Call him Dr. Jekyll and Hyde, you’ll not be far from the truth. How he did all in nearly 52 years, walking where Angels fear to tread, with only a few stumbles, is remarkable. He ended his reign as the longest-serving Alaafin in history and one of the longest-serving monarchs anywhere in the world.

Oba Adeyemi III was a Solomon. I’m not talking about his numerous women but his wisdom. You just couldn’t out-think him. In the unlikely event that you managed to outsmart him, steer clear. He was almost always one step ahead even in the face of shattering controversies.

He navigated the disgrace that could have come from a drug incident in the United Kingdom in the early 90s. He was exonerated by the British authorities. He didn’t own the bag containing the package. A storm hovered over him upon the murder of Amuda Olorunosebi, the last Ashipa of Oyo. A mob stormed his palace and it was torched. He rode that storm. Another serious allegation of murder came when my mentor, Alhaji Rashidi Adebayo Atingisi, was murdered. He made it to the UCH, and wrote a statement in his handwriting naming one of the “palace boys” as the man that shot him but he died about 24 hours after volunteering his written statement. The alleged shooter was arrested and charged in court with murder. There was a trial but the court ruled that Atingisi’s statement is not a dying declaration. The shooting happened at night and there were no corroborative witnesses. The accused was discharged and acquitted. Another major reputational damage was averted.

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Kabiyesi then fell out with his godson, Hon Kamil Akinlabi. The feud threatened to get dirty when Prince Akeem Adeyemi squared up against the godson in two consecutive elections (a third is impending). There was an air of fear that Hon Kamil, so close to Kabiyesi he could be said to know everything about the monarch, would spill certain beans. It’s either there are no beans to spill or Hon Kamil will keep quiet forever now that the great monarch has passed away.

Politically, the Alaafin was smart. He moved with the tide most times. For

long periods, he avoided Awolowo’s parties. It is a fact that his deposed father’s humiliation was politically-motivated. Up till 2010, it was the belief in political circles that the Alaafin would never be affiliated with any party having links with Awolowo’s political legacy. That changed with Alao Akala’s mismanagement of his relationship with the Alaafin. The monarch had no choice but to pitch a tent with the ACN to flush out Akala whose second term as governor, if he had gotten it, would have been disastrous for the Alaafin. He fell out with Lam Adesina and Rashidi Ladoja too but he sustained a good relationship with Governor Abiola Ajimobi.

All the time I knew him, he mastered the art of reinventing himself. Opinion polls in Oyo were not always stacked in his favour. But he would come up with schemes that kept him afloat. One was amassing a squad of young wives and the style of going to functions with a minimum of three of them in tow.

If there was a lull, he would invent a Chieftaincy title for the high and mighty. Thousands of visitors would storm Oyo. The glitz of the occasions brought more reverence, patronage, and cash. One was slated for May 27, 2022. Speaker Gbaja would have shut Oyo down with who is who in Nigeria for a Chieftaincy title. Chief Commander Ebenezer Obey and Ayinde Marshall were billed to entertain. It wasn’t to be.

He could have done a lot more to uplift Oyo and a lot of the indigenes. He had the clout and the opportunities. Of course, a good number of indigenes and non-indigenes are beneficiaries of his benevolence. Could we have had more benefits flowing from his clout? Certainly. He was a human being after all. Perfection belongs to God.

His passing will have socio-economic, cultural, political, and “soul-searching” ramifications for Oyo and even beyond. We hope it will be for good.

Kabiyesi, we will miss you. Rest In Peace!

 

Muideen Olalekan Olagunju, a Lawyer and Politician; writes from Oyo

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OYO101: ADELABU— When will this generational ‘UP NEPA’ chant stop?| By Muftau Gbadegesin

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The Minister of Power, Oloye Bayo Adelabu, has apologized for lashing out at Nigerians over poor energy management.

I hope Nigerians, especially our people from Oyo state, forgive and overlook his Freudian slip. Given that apology, I believe the minister has realized his mistakes and will subsequently act accordingly. In days that followed the minister’s vituperation, many otherwise cool-headed and easy-going observers quickly joined the band of critics and cynics. By the way, what BAND do you think those critics belonged to?

Plus, how best do you describe kicking someone who is down already? The flurry of condemnation that followed Oloye Adelabu’s ‘AC-Freezer’ sermon must have surprised and shocked him. Instead of sticking to his prepared speech, he decided to dash off by telling Nigerians some home truth. Quite amusingly, the truth, it turns out, is not the truth Nigerians want to hear. And as they say, ‘There is your truth, my truth, and the Truth.’ The fact is that Nigerians are angry at many things, the sudden hike in electricity tariff being one.

Perhaps the Minister’s press conference, an avenue to calm fraying nerves and address critical issues, quickly congealed into an arena for an intellectual dogfight – if you watch the video, you will hear the murmur that rented the air the moment that terse statement was uttered. While some influencers tried to downplay the minister’s jibe, they were instead flogged in their whitewashing game. Frankly, I am not interested in the minister and the energy management brouhaha. What I am indeed interested in is what the ministry and minister are doing to restore light in a country where darkness has permeated much of its landscape – don’t mind the confusion the minister and the ministry have created to disrupt the conversation around that vital sector of the economy.

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‘Up NEPA’, Lol

Trust Nigerians. When the defunct National Electric Power Authority failed to end the perennial and persistent darkness in the country, it was ironically dubbed ‘Never Expect Power Always.’ And when the company morphed into PHCN, Nigerians berated the name change, saying the company would hold more power than it would release. True to that assumption, PHCN indeed held more power than it gave to the people.

Then, in 2013, Nigerians woke up to the news of DISCOs, GENCOS, GASCOs, and so on. DISCOs for distribution companies, GENCOs for generating companies, and Gascos for gas suppliers. Of all these critical value chains, only DISCOs were handed down to private enterprises. Think of IBEDC, AEDC, IEDC, BEDC, etc. Unfortunately, the privatization of the distribution chain hasn’t transformed the sector’s fortune for good. More interested in the money but less motivated to do the dirty work of revamping the infrastructure.

Like a typical Nigerian in a ‘band E’ environment, I grew up chanting the ‘Up NEPA’ mantra whenever power is restored at home – and I am not alone in this mass choir. As a rural boy, the ‘Up NEPA’ chant is etched into our skulls from time immemorial. Sometimes, you can’t even tell when you start to join the chorus; you only know that you say it automatically and auto-magisterially. Many years down the lane, the persistent power cuts, blackouts, and grid collapses have worsened. And under Minister Adelabu, power supply, based on my little experience, has never reached this depressing point in history.

As a content creator, I can tell you Oloye Adelabu may likely go down in history as the most inconsequential minister of power unless something drastic is done to restore people’s confidence and bring about a steady, stable, frequent, and regular power supply. You may have seen on social media how most Nigerians who migrated abroad often find it difficult to shed that ‘Up NEPA’ chant from themselves once a power cut is fixed in those countries. Like the rest of their countrymen, they have internalized that mantra. Only after they’ve acclimatized to their new environment would they become healed of that verbal virus ultimately.

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‘Adelabu, end this chant’

This is a challenge. In my column welcoming Oloye Adelabu into the critical ministry of power, I asked a rhetorical question: Can Adelabu end the penkelemesi in the power sector? In Nigeria, is there any other economic sector troubled by multidimensional and multifaceted peculiar messes than the power sector? Adelabu’s grandfather, Adegoke Adelabu, was nicknamed Penkelemesi. History has it that the colonial masters, tired of that Ibadan politician, decided to describe him in the punchiest way possible: a peculiar mess. Quickly, a peculiar mess spread across like wildfire: the white men have described Adegoke as a peculiar mess. Translated to Yoruba, we have Penkelemesi. In retrospect, the minister must have realized the situation he met on the ground is better than what is obtainable now. He needs to own up, chin up, and take full responsibility for this total blackout.

‘Minister Fashola’

Babatunde Fashola, SAN is a clever man. For four years as minister of power, he avoided cutting controversy. But long before he was appointed, he had stirred quite an expectation around fixing the rot in the sector. He had jokingly said his party, the APC, would resolve the crisis of perennial blackout in one fell swoop. He categorically gave a timeline of when Nigerians in the cities and villages will start to enjoy regular power supply: six months. After four years of setbacks, Minister Fashola was forced to eat his vomit: the power crisis in Nigeria is deep-seated and chaotic. Oloye Adelabu has made more enemies than friends in less than a year. The minister may survey his performance among Nigerians to test this hypothesis. The truth is the truth. The mismatch between the minister’s area of competence and his assigned portfolio hasn’t helped matters as well. And this is a cavity many of his critics and traducers are banking on.

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For the first time in decades, Adelabu stands on the threshold of history: will he end this generational ‘UP NEPA’ chant once and for all? Time will tell.

OYO101 is Muftau Gbadegesin’s opinion about issues affecting the Oyo state. He can be reached via @muftaugbade on X, muftaugbadegesin@gmail.com, and 09065176850.

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Yahaya Bello: Do we need to prosecute ex-govs?

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I followed the drama of unimaginable scenes that unfolded in Abuja last week, as the Economic and Financial Crimes Commission(EFCC) moved to arrest and arraign the immediate past governor of Kogi State, Alhaji Yahaya Bello, in respect of alleged mismanagement of funds. I called it a drama of unimaginable scenes because the EFCC had laid siege to the house since very early in the day, knowing that its target, the “White Lion of Kogi State” was holed up somewhere in the compound.

But before the very eyes of the EFCC operatives, the man they had waited all day to catch, just slipped off their hands effortlessly. They claimed that he was rescued by his cousin, the incumbent governor of the state, Usman Ododo, who is protected by constitutional immunity. But EFCC lawyers would claim that Section 12 of the Administration of Criminal Justice Act (ACJA) empowers the body to break into houses to effect arrest.

Maybe that’s a story for another day. But it was surprising they didn’t think of that option. Bello was said to have stayed put in the Government House Lokoja since indication emerged that the EFCC was on his trail. So the easiest thing for the Kogi governor to do was to drive into the troubled house and then fish out a troubled cousin.

The Yahaya Bello saga is just the latest drama between the EFCC and former governors. Some time ago, we witnessed the Ayo Fayose drama. The former Ekiti State governor, whom EFCC was unable to arrest while in office put up some drama when he arrived at EFCC’s office wearing a branded ‘T’ shirt with the inscription: “EFCC I’m here.” Some of his loyalists helped him with things he needed to use in the EFCC detention.

Aside from that, we have also witnessed the Willie Obiano saga. The former governor of Anambra State was accused of misappropriating the state’s funds and has since been taken to court. Immediately after handing over the reins of power in Awka, the man had planned to jet out of the country but had to be stopped as EFCC operatives grabbed him at that exit point. We were also witnesses to the back and forth between the former Governor Abdulaziz Yari of Zamfara State and the EFCC. The commission had accused Yari of mismanaging billions of Naira and moved to arraign him.

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There were accusations and counter-accusations until Yari landed in the Senate, and things became quiet. The drama between the ex-Imo State governor, Rochas Okorocha, was interesting while it lasted. The commission had laid siege to the residence and eventually entered through the roof. We saw a terrified Okorocha and his household, praying fervently for God’s intervention as operatives jumped in to grab their suspect.

The list I have above is by no means exhaustive of the dramatic exchanges between the EFCC and some former governors accused of one financial misdeed or the other in recent years. One thing is, however, common to all the cases, after the the initial bubbles, the whole thing dies down as the retreating waves. Next to nothing is heard of the cases as the neck-breaking snail-speed of the nation’s judicial system takes over. Year after year, it is about one injunction or the other. Many of the accused had gone ahead to seek elective posts and won, many others have taken appointments and the law cannot stop them from utilising the benefits of the allegedly looted resources to gain an advantage since our laws presume individuals innocent until proven guilty.

The books of the EFCC and the Independent Corrupt Practices and Other Related Offences Commission (ICPCC) are full of such individuals who have allegations of hundreds of billions of Naira hanging on their necks. Many of them are busy swinging the official chairs in government offices as we speak. God forbid, one of such should, gain control of the nation’s presidency one day!

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Well, to forestall such a scary development, I think we need an antidote to these endless anti-corruption trials. The endless trial is not just a drain on the energy of the lady justice. It drills a gaping hole in the state’s resources as well. Imagine the legal charges the state incurs in taking several cases through the layers of courts. It is also possible some of the accused, who are innocent of the accusation could die in the process of trials and thus carry an unnecessary burden of guilt (at least in the eyes of the public) into their graves. The late governor of Oyo State, Otunba Adebayo Alao-Akala was able to win his case against the EFCC after 13 years, he died not long after the ‘not guilty’ verdict was pronounced. Former President of the Senate, Adolphus Wabara was also on the bribe-for-budget case preferred against him for more than ten years. Luckily, he was alive to receive his ‘not guilty’ verdict as well. Some may not be that lucky.

To stem this tide of seemingly endless trials of politically exposed persons, I want to suggest amendments to the EFCC and ICPC Acts to lay much premium on thorough and discreet probes of financial crimes rather than dump the results of the investigations in the court, the suspects should be called in and shown the traces of the illegally taken funds and their destinations. If the suspect is ready to refund at least two-thirds of the stolen funds to the coffers of the government, the agency involved, under the supervision of a competent court, could sign an irrevocable non-disclosure agreement and collect the funds into a special basket created for that purpose and which will be used for infrastructural development.

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Such an agreement should also take care of any possible penchant for grandstanding by any politician who could mount the podium one day and claim never to have been indicted of financial crimes. As much as the government would not waste time and resources prosecuting him or her, he should also be barred from active politics and playing godfather roles. If we do this, we will not only save time and resources, but we will get back a sizeable amount of the looted funds into government coffers for developmental purposes.

By Taiwo Adisa

This piece was first Published By Sunday Tribune, April 21, 2024.

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Tinubu’s Naira Miracle: Abracadabra or Economic Wizardry? | By Adeniyi Olowofela

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Prior to assuming the presidency of Nigeria, Asiwaju Bola Ahmed Tinubu garnered the confidence of the majority of Nigerians with the promise of rescuing the country’s economy from the impending disaster it faced.

For the past 43 years, the Naira has been steadily depreciating against the Dollar, as illustrated in Figure One.

The graphs below unequivocally depict the exponential rise of the Naira against the Dollar from 1979 to 2022. This sustained upward trend would have theoretically resulted in the Naira reaching 2,500 Naira to one Dollar by now.

 

 

This situation led some individuals to hoard dollars in anticipation of profiting from further devaluation of the Naira.

However, under President Bola Tinubu’s leadership, the Nigerian federal government successfully halted the expected decline of the Naira.

The Naira has appreciated to 1,200 Naira to a Dollar (Figure 2), contrary to the projected 2,500 Naira to one Dollar, based on the exponential pattern observed in Figure One.

This achievement demonstrates unprecedented economic prowess. If this trajectory continues, the Naira may appreciate to 500 Naira against 1 Dollar before the conclusion of President Bola Tinubu’s first term in 2027.

While the purchasing power of the average Nigerian remains relatively low, there is a palpable sense of hope on the rise.

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It is hoped that the Economic Team advising the President will continue their efforts to stabilize the economy and prevent its collapse until Nigeria achieves economic prosperity.

The government’s ability to reverse the Naira’s free fall within a year can be likened to a remarkable feat, reminiscent of a lizard falling from the top of an Iroko tree unscathed, then nodding its head in self-applause.

Mr. President, we applaud your efforts.

 

Prof. Adeniyi Olowofela, the Commissioner representing Oyo State at the Federal Character Commission (FCC), writes from Abuja.

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