Saturday, 25 February 2017

Judicial reforms, not restructuring will make Nigeria great again!




Those screaming themselves hoarse:” restructure Nigeria!” Are those who have lost out in the present political configuration! Mostly, they are ex-governors, ex-senators and power brokers who lost out in the course of things. Many others are people from the south-south who have moved from the majority holding sway in the centre, to the minority with defeat of the Peoples Democratic Party in the Presidency. While configuring the National Conference of 2014 where ethnic nationalities in Nigeria were represented, with more people looking out for the federal government than any other part of Nigeria, the issue of restructuring Nigeria along the resource line came to bear. And a lot of people supported it. President Goodluck Ebele Jonathan sought to use the National Conference as a tool to get himself reelected, unfortunately his strategy failed, and the question now arises: why didn’t he restructure the country while he was in power? Did he need a conference of nationalities and political jobbers to make him understand that Nigeria desired restructuring? I believe he did not! The challenge about restructuring is that no governor, senator, minister or president who is in power in Nigeria would truly desire restructuring along resource or ethnic lines!
 The President will not want it, because it would weaken him. Think of it this way. The United States is the World’s most powerful nation, but its president is not so powerful! While the Nigerian president controls the entire police force, military and secret service, makes over 3,000 appointments, he also has an almost bottomless access to funds that he could use anyway he wants. If it’s not enough he can reach into other funds without necessarily notifying the legislature and spend money as he wants. That’s why all the recent presidents: Obasanjo, Yar’Adua and Goodluck Jonathan could not restructure Nigeria. Who would have such immense power in his hands and voluntarily give it up? No one!
Even though the United States is the richest nation in the world economically, the president of that country has a limited access to funds that he can use without consulting congress. His control of the military is not total except in a period of war. He does not control the entire police force and the intelligence community act without necessarily taking orders from him.
The person(s) who wrote the 1999 constitution for Nigeria never really had a federation in mind, hence the agitation for “true federalism”. The scenario in Nigeria is very odd. Those who happen to be in government are satisfied with the system because they have access to funds that they can use to feather their political nests. Those that are not in government and have no access would continue to scream, until they get into government and then they will be quiet again.
Any group of people within the federation of Nigeria who expect a restructuring of the nation are only deceiving themselves. Restructure and weaken the presidency? Restructure and those 27 states that are unable to pay salaries will begin to fend for themselves? Restructure so that the focus of the oil rich states in the south-south and south west would be more on their governors, who presently are getting away with a whole lot, and less on the federal government that is blamed for every mishap, lack and embezzlement that occurs in the states and local governments?
Nigeria is an enigma firmly planted in maze. One can get lost in the political dynamics of a country that has refused to grow because of political sentiment and is incapable of bringing politicians who have stolen so much wealth to book. The task of the present government would be to reform the judiciary and make sure corrupt judges are flushed out and politicians adhere to the laws of the country. Corruption appears to be winning the present fight, and corruption will continue to win unless there are judicial reforms.
Perhaps its providence that has ensured that the vice president of the country, who currently acts as president, is a professor of law who is widely respected both within Nigeria and internationally.  Professor Yemi Osinbajo whose specialty is evidence in law practice could use his acumen for reform, which he demonstrated as commissioner for Justice and attorney general of Lagos state, to help reform the judiciary at the federal level and help the federal legislators institute changes in the laws, which not being introduced have enabled so many people get away with theft, avarice, embezzlement and outright misappropriation. It appears that the salvation of the country is not necessary in restructuring, but in judicial reform. Gradually we are getting there. First , with whistle blowers and next with changes in graft and corruption laws. The blindfolded lady who carries the scales could help ensure that Nigeria is great again. After proper reforms have been instituted which help the ordinary citizen hold leaders accountable at every step of the way, let’s see who will still shout: restructure Nigeria!
 Prof Yemi Osinbajo

Friday, 24 February 2017

Godwin Emefiele, CBN policy somersault and Kemi Adeosun

Godwin Emefiele, CBN policy somersault and Kemi Adeosun
In just a few days that Central Bank Governor, Godwin Emefiele introduced the new policy of allowing banks to sell FOREX to those who really need it, the Naira gained value, even though the value is minimal. But the point must be made that the governor of the apex bank is not as helpless as it seems, just a little bereft of ideas. The question that many banking industry observers are asking is: What took him so long? But again before we praise the effectiveness of the new policy we really must observe to see how well it is working. How do we know, for instance that the bankers will not round trip with the funds that he has given them? Well, the answer to that is: we do not know!
The economy of Nigeria is not solely in the hands of the CBN and its administrators, Kemi Adeosun of the finance ministry has a big role to play. Another question that observers are asking is: when will monetary policy compliment fiscal and visa versa? These two chiefs of different but related parts of the economy seldom see eye to eye, and with so much in disarray in form of dollar thieves and petroleum industry financial incompetence and theft, something has to be done urgently to get the two of them together. We cannot allow the war of egos that disrupted the Peoples Democratic Party to engulf our financial institutions. Time for Adeosun and Emefiele to kick start this economy and lay the path for the private sector to take the lead. We are watching.