Nigeria, Which Way from Here?

NIGERIA, WHICH WAY FROM HERE?

     
Currently in the Nigerian polity especially on the socio-political platform, several unthinkable scenes have transpired in different occasions since the present administration assumed duty ranging from the #DasukiGate to rapid fall of the crude oil price, hiking of the petrol pump price, reemergence of Biafran agitation and Niger-Delta militancy, the governors’ protest over continued payment of the #18000 minimum wage, the alleged abrupt disappearance of original copy of the 2016 appropriation bill from the National Assembly, the ongoing drowsy physiognomy  of the Nigeria’s foreign exchange, among others too numerous to mention thereby posing a great threat to the country’s economy.

     
The aforementioned seemingly foreseen anomalies had made many of the country’s citizens both home and in the diaspora coupled with concerned observers to unequivocally insinuate that Nigeria has encroached her doomed state. Though such presumption or insinuation presently preoccupying the mindset of the majority of Nigerians might not be unconnected to the fact that quick assertion of conclusion to happenings is peculiar to the human nature, but it’s worthy to note that that isn’t a wholesome perception; hence, not acceptable.

     
Every sane being as well as anyone who thinks good of this country otherwise known as the ‘giant of Africa’ ought to be concerned with the way forward from this vertex of quagmire that seems not unlike a paradox. To this end, it’s needless to state that the topic of this piece was informed by this very fact – acknowledging the inevitable role of way forward in a situation like this.

       In any circumstance, while searching for the most viable way of settling a crisis or putting a holistic end to any menace, it is imperative to firstly ascertain the origin or rudimentary causes of the plight in question; therefore the ongoing societal crises in Nigeria won’t be an exception. In view of this obvious fact, there’s a compelling need for us to look inwards with a view to unraveling the genesis of this apparently poignant odyssey solely begotten by the country’s democratic era.

      
Thus, before seeking for the way out, the paramount question is, how did we get here? In some quarters, people are of the view that these predicaments are attributable to the 16-year misrule of the acclaimed largest political party in Africa – the People’s Democratic Party (PDP); some persons in their understanding are preoccupied with a belief that these plights are attributed to so much promises made by the ruling party – the APC; on another axis, people believe that most of the ongoing crises were occasioned by Nigeria’s unending sole dependence on the oil sector. Among all, some schools of thought are strongly of the opinion that the origin of this state of poignancy is traceable to the presumed high level of docility that marred the Goodluck Jonathan’s leadership.

      If I must be vocal or if I’m bound to speak wholly, in a concise term I would say that there are two major factors responsible for all these brouhahas currently ravaging all facets of our economy. One of the factors is that those whom are negatively affected by the ongoing anti-graft war or whom have perceived a ‘witch-hunt’ as the case may be have vowed to make the country ungovernable by the President Mohammadu Buhari’s led administration.

     
The second factor is scepticism; many Nigerians are still sceptical over the established notion that President Buhari was the awaited Messiah; people are still sceptical over the sincerity surrounding the ongoing colossal anti-corruption cases; the electorate are sceptical over the anticipated actualization of the 2016 proposed budget; people are still sceptical if this administration truly has a genuine agenda that would lead this country to the anticipated promised-land. Therefore, the two factors are: the wrong use of opposition in a democratic dispensation as well as scepticism on the part of the electorate which is not unusual. Any interregnum often yields scepticism, apprehension, uncalled fear and what have you.

      Undoubtedly, in a situation like this, it is the prerogative of everyone to nurture or be entitled to his/her own opinion. But for the interest of Nigeria whom is already crying foul, we are not meant to be concerned or bothered over people’s personal opinions rather how to salvage them from this untold hardship irrespective of whose ox is gored. Thus at this juncture, the most consequential and rational question becomes, which way from here?

     
For the present administration to be thoroughly described and recognized as a responsible and responsive administration, it must be willing and ready to absorb constructive criticism, which remains an inevitable veritable tool in nation-building. It is expected to spread its hands open for any form of criticism that is aimed at addressing any anomaly or ill.

      In the same vein, the administration must at all cost be willing to adhere to the principle guiding the rule of law. If anyone detained by the EFCC or the DSS has reached or tendered all the required conditions for him to be bailed, he should be released without much ado prior to when next he would needed for further scrutiny or interrogation; it is only the military that does not understand the language of bail. To restrict the person’s movement afterwards or after the bail, they must endeavour to seize his/her International Passport or travelling documents.

      And anyone who is still in detention that pleads to be allowed to see his doctor abroad or claims to be passing through a severe medical condition, should be allowed to travel out but in custody of the DSS, EFCC or ICPC as the case might be, or better still his doctor should be invited from abroad to attend to him in the cell. We must note that the person’s health condition is very crucial in such situation; a detainee must be medically sound to enable him/her pass through any stress during arraignment. In other words, one must be alive to attend to any query.

     
More so, the government ought to be prepared to charge accused persons to court because Nigerians can’t wait to witness such scenario. Everyone yearns for pragmatic and tangible approach towards tackling corruption, and unarguably it is only the judiciary that can showcase the anticipated scene. Corrupt people shouldn’t just return the stolen monies and be allowed to go scourge free; if such tradition is to be upheld, subsequently public office holders would attempt to steal more public funds in their custodies since they would only be asked to return them thereafter.

       Regarding the renewed Biafran agitation, I urge the government to handle the matter with extreme diplomacy. First, it ought to endeavour to unravel what actually prompted the reemergence of a protest that is believed to have faded off long ago, after all the aggrieved group in question have a constitutional right to ask for freedom if they feel marginalized; hence they deserve a fair hearing. Thus, the treasonable felony established against the leader of the IPOB, Mr Nnamdi Kanu should be reviewed in earnest for the interest of Nigeria in its entirety.

     
Above all, the 2016 proposed budget was estimated on the targeted oil benchmark of $38 per barrel but right now, the oil benchmark is already $27 per barrel and it is liable to fall further; this simply implies that for the said budget to be feasible when duly implemented, the government must not compromised every effort targeted towards diversification of the sources of the country’s economy. Against this backdrop, I enjoin the government to take the education, health, tourism and agricultural sectors as priorities; the aforesaid sectors that were maltreated in the past need to be strengthened headlong.

     
The educational arena requires a drastic upgrade in order to encourage entrepreneurship drive among our young ones; the health sector cannot be neglected because ab initio billions of naira are invariably sent to foreign nations by the rich for payment of medical treatments to the detriment of our foreign reserve. This country is blessed with enormous cultural heritage, hence should be harnessed for the sake of tourism. The governors, rather than depending solely on the federal allocation should also be mandated to follow suit as regards diversification of their IGRs in their respective states to enable them not to see the continued payment of the #18000 minimum wage as a far-fetched concernment.

       On their part, the electorate must learn how to use civil language while tendering lamentations, criticisms, protests, media commentaries and so on, if truly they pray and earnestly seek for a salvaged Nigeria. At least the political wills being showcased by this administration deserve some credit or kudos; thus let’s exercise a little faith while we wait, after all Rome wasn’t built in a day. Think about it!

Comr Fred Doc Nwaozor

 

        

Time we left Criticism of Calumny

TIME WE LEFT CRITICISM OF CALUMNY

       

Criticism is simply the expression of disapproval of someone or something; thus, a critic of a person, action or system disapproves of them and expresses such view publicly. However, one who writes reviews and expresses opinions about books, films, music or any art work having considered it carefully is equally referred to as ‘a critic’.

Currently on the Nigeria’s socio-political platform, it’s obvious that destructive criticism or criticism of calumny is on the rampage. Criticism of calumny, which is mainly targeted towards tarnishing one’s image, is usually presented owing to the disapproval the critic has against the personality of the person whose action is being criticized. In actual sense, criticism is meant to be disapproval over a certain action, inaction, leadership pattern, and what have you, and not disapproval or condemnation of one’s personality or reputation as it is presently observed in our polity.

Criticism of calumny is purely a product of hatred, hence does not possess any recipe required to address an abused circumstance or system. Due to its selfish motive, it invariably bears a cruel and illogical content thereby making it portray a seemingly poisonous physiognomy. Summarily, it doesn’t blow a society, regardless of size or status, any good.    

Criticism is simply a matter of flushing out a certain thought or attitude and trying to change it. It is to show that things are not as self-evident as one believes. Thus, criticism ensures that what is accepted as self-evident will no longer be accepted as such. Suffice it to say; observance criticism in any society is a matter of making facile gestures or remarks difficult.

Criticisms are veritable recipes in any area of human endeavour. For instance; in Steward-Client relationship, if the client has a criticism to tender, it means he/she wants to give feedback on the services being rendered to him/her, thereby creating an opportunity for the steward to learn more about the person he is working for and how to convert them into a satisfied client member. Same measure is applicable in a Trader-Customer relationship.

Similarly, in business venture, working or partnering with someone who is patient and able to receive as well as act on criticism signifies that both parties involved can work towards a better or greater outcome. Furthermore; in movie production, criticism enables the producer to know what his audience actually want.

If one always thinks he is right but doesn’t get feedback from anyone else, he wouldn’t know if he is really doing well. Whether you are selling, servicing, performing, or leading, listening and acting on those honest views or reactions will tell you precisely what is good and what could be done better. Perhaps, you can use the information to change your performance, exhibition or product, as the case may be.

In public service, criticism has the tendency of guiding the public servants away from bad practices, and towards good and acceptable ones. It would enable the said workers to take a step back or have a rethink with a view to making amends or adjustment where necessary.

The socio-political arena is not left out while discussing the inevitable role of criticism in nation-building. Undoubtedly, a little constructive criticism from the members of the public such as the civil society groups, the electorate, the religious organizations or what have you, channelled towards the political office holders can yield the anticipated change in the country or society in question.

Considering the positive impact of constructive criticism, there is no gain reiterating the fact that it is indeed a welcome gesture or required factor toward the socio-economic development of any nation; hence, ought to be sustained. To this end, there is need for us to acknowledge that the language we use in response to criticism is vitally important.

Whenever criticism is tendered by any concerned individual or group, the recipient is expected to try at all cost to avoid getting into an argument. Instead, they should turn the exchange into a discussion on how to resolve the predicament; such approach would keep the door open for the required change.

Most importantly, criticisms are not meant to be taken personally. Even if one feels he/she is being criticized unfairly, he shouldn’t retaliate with an extreme knee-jerk reaction; such response will worsen the situation and can even harm the person’s reputation as well. Therefore, it is essential to always remember to not be offended by someone’s remarks even if you think it is a personal attack.

On the other hand; having noted the enormous significance of constructive criticism in nation-building, there is also a compelling need for the critics to be mindful at all times when tendering their criticisms. They should know when they are supposed to tender the criticism as well as how it ought to be presented. It is worthy to note that, some critics lack the orientation on when and how to present their criticism; this set of persons invariably tender their contrary opinions as a form of antagonism thereby making the supposed recipient misunderstand the gesture.

More so, critics are meant to comprehend that criticism is expected to be accompanied by the presumed remedy to the anomaly that is being criticized. Most so called critics usually end up raising a cloud of dust in the name of criticism. Unequivocally, a criticism that is not tendered with a presumed solution to the problem being criticized is simply a mere noise that is intended to cause a pandemonium or controversy rather than addressing the situation at hand.

In view of the aforementioned facts, everyone at all levels including political leaders, followers, craftsmen, traders, businessmen, teachers and public servants, as the case may be, is expected to take criticism seriously regardless of the circumstance in order not to abuse the tool, which has proven beyond any reasonable doubt to be the engine room of any nation-building.

To this end, it’s imperative for Nigerians at large to acknowledge that it is high time we left the ongoing criticism of calumny, which is seriously telling on our polity, with a view to creating a Nigeria where true rationalism would prevail. Criticism is unarguably a wholesome and worthwhile gesture but if wrongly tendered, might end up generating an unspeakable quagmire rather than resolving the already existing error or crisis. Think about it!

 

Comr Fred Doc Nwaozor
Follow: @mediambassador 

 

 

Recent Ban on Forex hawkers

RECENT BAN ON FOREX HAWKERS

       

Foreign exchange otherwise known as ‘forex’, can be described as the system for dealing in the currencies of other countries, or the conversion of one country’s currency into that of another.

      Few days ago, it was widely on the news that the Nigeria’s apex bank – the Central Bank of Nigeria (CBN) had ordered the immediate closure of Bureaux De Change (BDCs) branches nationwide, stating that branch operations were no longer allowed in the subsector; we reportedly learnt that 90 days ultimatum was issued to the affected institution. This directive was contained in the revised guidelines for BDCs as released by the apex bank.

    
In addition, the CBN categorically and unequivocally disclosed that henceforth hawking of foreign exchange on the streets and other open places, which is currently invariably not unusual in Lagos, Abuja and Port-Harcourt, that has ‘endured for over three decades surviving civilian and military administrations’, would no longer be accommodated or tolerated. It stated that from January 1, 2016, street trading of the dollar, among others would be non-permissible; disclosing that violation of such directive would attract a severe penalty.

    
The mother bank further roared that it shall be a ground for the revocation of licences if any street trader in foreign currencies is found to have any business relationship with a licensed BDC. Similarly, the guideline entitled ‘Revised operational guidelines for Bureaux De Change in Nigeria’, prescribed that for a BDC to be considered valid in 2016, it must meet the financial requirement of depositing a minimum of #71.45 million with the CBN.

      It is worthy to note that since inception, the CBN has taken full responsibility over nurturing the money and capital markets. In consequence to this, the mother bank introduced treasury bills in 1960, treasury certificate in 1968, and facilitated the establishment of Lagos Stock Exchange in 1961. It also went further to institute the Capital Issue Committee now known and addressed as the ‘Securities and Exchange Committee’ in the early 1970s.

     
The CBN undertakes Monetary Policies in order to maintain Nigeria’s external reserves to safeguard the international value of the legal currency; to promote and maintain the monetary stability and a sound cum efficient financial system in Nigeria; to act as banker and financial adviser to the federal government; and finally, to act as lender of last resort to commercial banks.

    
Since the establishment of the apex bank in1958, it would interest you to acknowledge that so far ab initio the governors (bosses) of the bank implemented their respective policies as regards the monetary system of the Nigeria’s financial industry. The 9^th substantive boss of the bank in the person of Prof Charles Soludo introduced one of the most controversial policies in the history of the bank – the ‘Consolidation’, and it worked effectively. No doubt, it was an accomplishment that fetched the man in question a well-respected and renowned name as a financial guru. Subsequently, Mallam Lamido Sanusi (now the Emir of Kano) as the 10^th substantive governor of the bank came up with his ‘Cashless policy’; a measure Nigeria at large will live to testify its goodness and reliability.

     
Furthermore, Mr Godwin Emefiele – the current boss of the bank, assumed duty as the 11^th substantive governor of the apex bank amidst tough challenges. When he assumed duty, on Tuesday June 3, 2014 precisely, he wasn’t meant to be informed that all eyes were on him regarding reshaping and restoring the unstable and ‘drowsy’ Nigerian economy, which is undoubtedly spearheaded by the famous Central Bank of Nigeria (CBN).

      Frankly, Emefiele’s appointment as the CBN boss came at a moment the Nigeria’s financial industry was undergoing severe tension following the uncertainties that trail the nation’s currency – the Naira. Presently, analysts and financial experts are profoundly of the view that enormous, drastic, and fearless effort is immensely required towards driving the country’s economy to greater destinations.

     
When Emefiele came on board, during his media briefing he wholly disclosed his onward preparedness to uplift the Nigeria’s economy; thus he extensively stated most of the policies he intended to pursue vigorously, which included the determination of the apex bank to reduce ‘high interest rates’ found in commercial banks as well as ensuring ‘exchange rate stability’ with a view to reawakening and raising the value of the Naira.

     Going by the tempo he is presently employing toward actualizing the former – reduction of high interest rates, it’s apparent that soonest the nation’s banking sector would not just be juicy but would be a place to reckon with worldwide. For instance, six years after consistent increase in lending rates, the Monetary Policy Committee (MPC) of the CBN on Tuesday November 24, 2015 resolved, among other issues, to reduce the benchmark interest rate otherwise known as ‘Monetary Policy Rate (MPR)’ from thirteen percent (13%) to eleven percent (11%). It also reduced the Cash Reserve Ratio (CRR) from twenty-five percent (25%) to twenty percent (20%). This was in addition to its determination to ensure that by 2016 as directed, there would be zero naira Commission on Turnover (COT) currently experienced by current account holders in Nigeria.

      In the same vein, its (CBN’s) recent ban on the incessant branches of the country’s Bureau De Change (BDC) as well as forex hawkers is unarguably an obvious indication that the boss of the apex bank is prepared to actualize the latter – exchange rate stability. Even a day old child comprehends the fact that proliferation of illicit foreign exchange markets/units across the federation remains one of the major banes, if not the most, to the Nigeria’s exchange rate which of course contributes tremendously in crippling the country’s economy. Suffice to say that it is high time they are eradicated.

      Indeed, it’s only a dogged and sincere approach that would holistically make the Nigeria’s exchange rate stable on a regular basis. Voicing out a certain policy is ostensibly extremely different from its implementation; hence, the CBN governor, Mr Godwin Emefiele is expected to take the bull by the horn toward ensuring that this worthwhile proposed policy that would surely stand the test of time if duly implemented is severely handled without much ado, with a view to writing his name in gold in no distant time. For this to be thoroughly actualized, a reliable mobile committee or agency that would monitor the day to day compliance of the affected people/bodies is meant to be set up by the CBN.

     
Another disturbing act that is ravaging the nation’s currency (the Naira) is the ongoing sale of the Mint or new naira notes by unauthorized dealers in every nook and cranny of the country, and must also be drastically considered by the Mint Inspectorate unit of the CBN whose function is to maintain security and quality of naira notes and coins; unfortunately, the coins have faded out. The lingering constant circulation of torn naira notes by the commercial banks might not be unconnected to the aforesaid anomaly or illegal practice. The mints are being sold by the banks to unauthorized dealers thereby making them (the banks) issue torn naira notes that are meant to be burnt or discarded to their teeming clients via the counters or ATMs as the case may be.

    
Surely, the Naira is on a very hot seat, thus required to be rescued by a masquerade. So if the CBN is truly willing and determined to actualize a society or country that would be known for a stable exchange rate, it must be ready to wear a non-human face. Think about it!

Comr Fred Doc Nwaozor

Twitter: @mediambassador