Boss Picks
Who Will Settle Dangote, Bua Rivalry?
Published
3 years agoon
By
EricBy Eric Elezuo
The end may not have been heard about the constant altercation between the Dangote Group and Bua Group, two of Nigeria’s biggest conglomerates in commodity trading and manufacturing.
Both companies, which are in the forefront of manufacturing most of the staple edibles in Nigeria, are engaged in trade rivalries, seeking who probably will win the bulk of the country’s consumers.
Consequently, Dangote and Bua, Nigeria’s number one and three richest men, are doing everything possible to grab the market, and so have distinct refineries for diverse production.
While Dangote has its fertilizer plant as well as oil refinery at the Lekki area of Lagos, Bua has its sugar plant at the Port Harcourt axis. Both businessmen are known to deal in almost the same kind of products, and it is imperative to note that they are also natives of the same Kano State. Notwithstanding the rivalry continues necessitating the question, who will settle the rivalry between the two giants of commodity markets. Trade Ministry, Kano Governor, Abdullahi Ganduje or President Muhamadu Buhari.
The feud, according to sources, is traced to the ex-president, Olusegun Obasanjo’s administration, which was said to have favoured Dangote to the detriment of his major rivals and competitors in the business sector.
Alhaji Abdulsamad Rabiu, the Executive Chairman of BUA Group, allegedly wrote a petition to President Buhari, detailing how policies of successive governments in the last two decades have “unduly” favoured his kinsman.
But Rabiu’s surprise appearance at Dangote’s 60th birthday party, organised for him by Femi Otedola, seemed to douse the tension of enmity between the two.
Again in February 2020, Alhaji Aliko Dangote, who is unarguably the richest man in Africa with a networth of $11.3 billion paid a courtesy call on BUA Group Chairman, Alhaji Abdulsamad Rabiu, at the BUA Group Headquarters in Lagos in a move many felt will bring a reconciliation.
The visit, many had thought, will reconcile the two billionaires who have interest in cement and similar commodities across Nigeria and Africa. The BUA Group had earlier accused Dangote Group of trying to monopolise the cement market and asked the President Muhammadu Buhari to intervene.
“It was an honour for me to receive my friend and brother, Alhaji, in my office today. I share his vision and aspirations in transforming and industrializing our beloved country, Nigeria. Thank you so much, Alhaji, for the honour.” Abdulsamad Rabiu had posted after the visit.
But today, the story is different. The rivalry has been rekindled!
The duo’s rivalry has been rekindled following alleged letter written to the Minister of Industry, Trade and Investment, Mr. Niyi Adebayo, by Messrs Aliko Dangote of the Dangote Industries Limited and John Coumatarous of Floor Mills of Nigeria Plc, according to Chairman, Bua Group, Abdulsamad Rabiu.
The letter, which was co-signed by Dangote and Coumatarous, was alleged that Bua aimed to ‘circumvent the BIP of the sugar industry’ – an initiative in which it claimed it has invested billions of naira and is nearing completion.
The whole crisis came to light following a response dated February 11, 2021, and titled Re: Request for Information on Bua Sugar Refinery, Port Harcourt, and signed by Mr Rabiu himself, Bua sent to the Mr Adebayo, and made available to The Boss, where it attempted to clarify issues in response to another letter written to it by the Trade and Investment Ministry for more information and clarification.
“I received your letter dated February 10, 2021 requesting for information on the status and operations of our Bua Sugar Refinery at the Bundu Free Trade Zone in Rivers State. I am also aware your letter to us was in response to another jointly signed by two competitors – Messrs Aliko Dangote of Dangote Industries Limited and John Coumatarous of Floor Mills of Nigeria Plc – who incidentally are also interested parties and major players within the sugar industries in Nigeria,” the letter opened.
While describing Bua’s three sugar holdings in Nigeria including 720, 000mt sugar refinery in Apapa, Lagos (since 2008 and covered by the Backward Implementation Programme of the National Sugar Master Plan), as a watershed in sugar production in Nigeria, Rabiu, on behalf of Bua frowned at what he called ‘ludicrous claims by the two competitors’.
Bua maintained that considering its peer reviews with the other competitors in question in line with the dictates of the Nigerian Sugar Master Plan, it is tantamount to falsehood to claim that the Bua PH export focused refinery in an Export Zone will amount to an undermining of the NSMP.
Insisting that the project they are involve in Port Harcourt is governed under the NEPZA act and the free zone approved by Mr President, who is duly empowered by the constitution to do so, Bua said that its actions are legal and within the confines of the law, and that going against it by anyone will amount to undermining the powers of the President, who had given his approval.
“We have not done, are we doing anything wrong,” Bua said.
Still on its defence, Bua noted that “as far as the Backward Integration Programme is concerned, Bua is doing everything possible to ensure that its BIP project is on course through our 20, 000 hectares Lafiagi Sugar Project encompassing a 10, 000tpd Sugar Mill, 20, 000tpa Sugar Refinery, 20million litres Ethanol Plant and a 35MW Power Plant from Bagasse.”
The company also prides itself as ‘the only one with a plantation, a sugar mill for crushing canes, a refinery to produce white sugar, and an ethanol plant’ while indicting its competitors (Dangote and Floor Mills) ‘as having only sugar mills thus producing only brown sugar’.
It further accused Dangote and Floor Mills of paying lip service to the National Sugar Plan as a means to simply keep importing sugar, maintaining that the other two companies’ hypocrisy needs to be examined more critically.
“In the 20 years since Dangote Sugar took over this plantation, they have not added any value whatsoever to it, instead Savannah Sugar produces even less than it was producing when they took it over,” Bua added accusing Dangote of incompetency and double standard.
It further accused Dangote of trying to muscle any competitor out of business wherever they are found operating, either in Nigeria, or anywhere in the globe, saying what is playing out at the moment is one of such moments. The company wondered why Floor Mills, which Dangote had set up its chairman and his aged father leading to their arrest by the Economic and Financial Crimes Commission (EFCC).
Bua concluded that “We have our relevant approvals from Mr President which grants BUA Sugar PH the permission to export and sell locally in line with extant laws and regulations. Our Lafiagi BIP Project is also not only the most advanced of the three but also the only with sugar refinery and ethanol plant. The other two cannot produce sugar fit for human consumption and is only an avenue to keep importing whilst doing the ‘barest’ minimum. Not only that, the cost and scale of our projects is almost three times theirs.”
Bua finally assured the honorable minister, and by extension Nigerians, among many other things that the company’s “PH Export Focused Project will not affect in anyway the backward integration programme. The only way it will affect Nigerians is that Nigerians will pay lower prices for sugar.”
But in its response, Dangote Sugar Refinery PLC (DSR) has released a statement acknowledging the fact that stories abound in the media space that it is engaging in price-fixing and is not honestly engaged in any Backward Integration Programme as claimed.
Consequently, the company vehemently refuted the allegations and assertions in their entirety as false and geared towards tarnishing the good name and brand of Dangote Sugar Refinery Plc and Dangote Industries Limited.
“DSR does not engage in artificial price manipulation of its products, either during the Holy month of Ramadan or at any other time. We have never ever increased price of our food items or commodities during the Holy month of Ramadan in the history of our operations”, according to the Group Managing Director, Mr. Ravindra Singhvi.
He also added that the Company is socially responsible and considers price-fixing to be unethical. Such allegation is highly mischievous and a calculated attempt to smear the reputation of DSR. DSR can only sadly conclude that the online publication is mischievous and geared at creating some form of undue advantage to some Industry players, he said.
He said that the company began its Backward Integration Programme (BIP) with a 10-year sugar development plan, to produce 1.5 million MT per annum of sugar from locally grown sugarcane. The Project commenced with acquisition of large expanse of land in strategic locations such as Taraba State, Adamawa State and Nasarawa State. To this end, three (3) BIP sugar companies; Dangote Taraba Sugar Limited, Dangote Adamawa Sugar Limited, Nasarawa Sugar Company Limited were incorporated.
The Company had commenced rehabilitation and expansion of its Sugar Factory at Numan. Sugarcane planting has also commenced in the two other BIP locations.
DSR has a responsibility to the Government, the good people of Nigeria and the Sugar Industry and all other stakeholders to protect the integrity of the Sugar industry and wishes to assure its stakeholders as follows: It will do all that is necessary to vehemently protect the integrity of the Sugar Industry, it is not engaged in price fixing and it encourages healthy competition amongst the players.
DSR highlighted a matter (BUA’s operation of a Sugar refinery in the Free Trade Zone in Port Harcourt, exporting refined sugar into the Custom territory) which may circumvent the National Sugar Master Plan’s (NSMP) framework and jeopardize its objectives by taking advantage of the location of its Port-Harcourt Refinery in the Free Trade Zone. DSR made this notification to the Hon. Minister of Industry, Trade & Investments bona fide, via its letter to the Minister dated January 28, 2021 asking the Minister to investigate the matter.
“We believe our action is in line with our responsibility as a major stakeholder to alert the supervising Ministry on activities that would derail the plan of the Federal Government in its drive to self -sufficiency in Sugar under the NSMP.
But the way it is today, the real victims of the struggle between the two superpowers of manufacturing are the people, who may likely procure these commodities are exorbitant prices because the crisis is likely to lead to product scarcity and subsequently inflation as too much money will have to chase very few goods.
Presently, the price of a bag of cement, which happened to be an exclusive preserve of both companies, has skyrocketed to as high as N4,500 while a bag sugar sells for between N19000 and N21000.
It is believed that the Ministry of Trade, Industries and Investment, which is presently wading in, will do a thorough job in reconciling both companies, and should that failed, President Muhammadu Buhari should as a matter of urgency call both to order. He is probably the only person the two dollar billionaires, Dangote and Rabiu, can listen to.
Below are the detailed letter and other supporting documents in PDF that backs up BUA’s claims:
CLICK TO OPEN:
DANGOTE TRYING TO STOP BUA SUGAR OPERATIONS
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By Eric Elezuo
On Friday, March 1, 2024, the remains of former Chairman of Nigeria Exchange Group, were committed to mother earth in his hometown, Ijebu-Ife in Ogun State amid wailing by friends, colleagues, associates and members of the immediate and extended families.
Till date, words are not yet enough to describe the emotional trauma caused by the tragic death of Mr Ogunbanjo since that fateful evening on February 9, 2024 in faraway California, United States of America. He was traveling in an helicopter in company of his friend, Herbert Wigwe, his wife and son, who also lost their lives.
Delivering his sermon at the funeral service, the Diocesan Bishop of Lagos, Church of Nativity, Right Reverend, who officiated the funeral, Ifedola Senasu Gabriel Okupevi, said the Holy Bible makes it clear that there was time for everything on the earth.
The clergy, reading from the book of Ecclesiastes Chapter 3 verses 1 and 2, noted that the passages made everyone know that death was imminent.
He said, “This time we are mourning, sad, and weeping because our dear brother Abimbola is no more; we believe that we will meet again at the resurrection in paradise. His time is up and that is why he is gone. He is no more concerned about the economic woes of this world and travelling up and down.”
Admonishing the congregation, the clergy urged everybody to emulate Ogunbanjo’s virtues in using his resources to help others.
According to him, “Watching a documentary about him yesterday (Thursday), late Ogunbanjo used his resources to touch lives leaving a legacy for others to emulate.
“He has done his bit, let everyone use your influence to do good; it’s the legacy left behind by Ogunbanjo. Look at Nigeria, palliatives are not going round. Let us try to help those around us we can help.”
For the family he left behind, the clergy drew their attention to the Book of I Thessalonians Chapter 4 verse 13, which states that, “they must see him asleep and not dead.”
The late Ogunbanjo’s daughter, Ladun, who struggled with emotions and tears to take the Bible reading from Psalm Chapter 128 verse one to eight, described her late father as someone who would be sorely missed.
In his vote of thanks, his son, Timi Ogunbanjo, thanked the Lagos and Ogun state governments and various groups for their immense support.
The funeral service attracted the late Ogunbanjo’s friends, associates from across the country, which included the President of Dangote Group, Aliko Dangote; Chairman and Editor-in-Chief of the THISDAY and ARISE Media Group, Prince Nduka Obaigbena; Senator Gbenga Daniels, Former Governor of Cross River State, Donald Duke, Segun Awolowo and members of Igbobi Old Boys Association.
THE MAN BAMOFIN ABIMBOLA OLUROTIMI OGUNBANJO, OFR
Born 11th July 1962, he was the youngest child born to Chief Christopher and chief Mrs. Hilda Ogunbanjo both of blessed memory. Young Abimbola attended Corona School, Apapa, Lagos; Claremont School, UK and the University of Lagos Staff School for his elementary education between 1967 and 1973. Abimbola was admitted into Igbobi College, Yaba, Lagos in 1974 where he started his secondary school education. He completed his studies, acquiring his GCE “O’Levels at Millfield School, England in 1977. In 1980, he was accepted at the American College of Switzerland, where he graduated in 1985 with a Bachelor of Science (Hons) Degree in Business Administration.
Abimbola commenced his professional career in banking as a Credit Analyst with Chase Merchant Bank, Nigeria where he served meritoriously under the pupilage of late Mr. Tayo Aderinokun, the Co-founder and former managing Director of Guaranty Trust Bank Plc. After this, Abimbola qualified as a Solicitor after attending the University of Buckingham School of Law in 1987, and was called to the Nigerian Bar in 1990. He joined the prestigious and renowned Law Firm of Chris Ogunbanjo & Co. where he grew through the ranks to close out as the Firm’s Managing Partner. He had vast knowledge of and experience in commercial law, especially of the Capital and Financial Markets, and Corporate Mergers and acquisitions. Abimbola Ogunbanjo attended the New York Institute of Finance, where he obtained a Certificate in International Capital Markets. He has garnered considerable Corporate Finance transactional experience working with public and private institutions, this included rendering advice to a host of multinational corporations.
Abimbola acted as Counsel to ConocoPhillips in the $1.5bn landmark transaction where it sold ts oil assets to Oando Exploration Resources. In addition, he acted for the Nigerian National etroleum Corporation in the establishment of the $5bn Brass LNG project.
In September 2017, Abimbola was elected the 19th President of the Council of the Nigerian Stock Exchange having served on the Council for the prior 5 years; and chairing the Demutualization Advisory Committee and the Governance and Renumeration Committee respectively. It is to Abimbola’s credit that it was under his tenure and diligent supervision as President of the Exchange that the members of the Exchange voted unanimously in favour of its demutualization, after over 15 years of trying. After a name change, he was elected as the inaugural Chairman of the Nigerian Exchange Group in 2020; he retired from the Board after his statutory tenure expired in September 2022.
He was a governing council member and the Legal Adviser of the Nigerian Chamber of Shipping where he provided pro bono legal advice. Abimbola was recently the Vice- Chairman of the Commercial Law and Taxation Committee of the Lagos Chamber of Commerce and Industry as well as Country Legal Adviser and Director of ConocoPhillips and AIICO Insurance Plc – a subsidiary of the Insurance giant AIG, the US Insurance behemoth.
Abimbola was a member of several professional advocacy bodies including the Institute of Petroleum (U.K.), the International Bar Association and the International Trademark Association. As a result of his deep understanding of the corporate landscape, he sat on the Boards and Chairs several blue-chip companies including Beta Glass Plc, V&O Communications Ltd. and Investment Securities Ltd. He was recently invited to chair the Board of the largest quarry company in Nigeria. Abimbola’s enduring relationships with leading C-Suite executives in Nigeria and throughout the African continent made him a highly sought-after adviser and international negotiator.
On 11th October 2022, the President of the Federal Republic of Nigeria, His Excellency, Muhammadu Buhari, GCFR conferred the National Honour of Officer of the Order of the Federal Republic (OFR), on Abimbola Ogunbanjo for his sterling contributions to the development of the Capital Markets, Corporate Law and in recognition of his outstanding virtues and in appreciation of his services to Nigeria. Abimbola was decorated with the traditional title of “Bamofin of Erunwon” part of the Ijebu Kingdom.Bamofin Abimbola Ogunbanjo was a Member of the Metropolitan Club, Lagos; the Oriental Club (U.K.) and the Lagos Motor Boat Club – where he had the honour of serving as its Commodore. He was a Director of The Chris Ogunbanjo Foundation, a Not- for- Profit Organization established by his father and distinguished Igbobian, Olotu Chief (Dr.) Christopher Oladipo Ogunbanjo OFR, CON. The Chris Ogunbanjo Foundation was set up to promote the achievement of a stable society by analyzing the causes of conflicts and resolution of the same. He was happily married to Titi Ogunbanjo (nee Kuku), and blessed with two children; Ladun and Timi.
PERSONALITIES PAY TRIBUTES TO LATE OGUNBANJO
So far, a torrent of tributes has poured in and continues to pour in from prominent Nigerians before, during and after the funeral service of the fiscal policy expert, who died in the helicopter.
The Governor of Ogun State, Mr. Dapo Abiodun, who was among the special dignitaries that graced the event, described the late Ogunbanjo as a dependable and loyal associate who led a life of impact.
The governor, while speaking at the funeral service held at the Church of Nativity, Parkview Estate, Ikoyi, Lagos, urged the deceased’s family to hold on to God.
According to him, only God knows why He called him home at this period.
“Our God is a God of different seasons and only him knows why he allowed this sudden and painful event to happen. This is a painful event to us, but it’s for us to know we are travelers on earth.
“Bimbo was intentional about the things he did, he was a good, loyal, dependable associate and consistent friend to me. He was a mentor and had an infectious deep smile on his face as he lived a life of impact.
“If tears could bring back the dead, Bimbo will be here today; if God calls you home today what will be said of you?” he asked.
OUR HEARTS ARE SHATTERED –
Abimbola
How did we get here!!!!!
My heart is shattered!!!!!
Didn’t even know you were out of the country.
Bimbo it’s all sooo surreal
No one will call me Lapsy like you use to !!!!
My heart is bleeding.
How do I eulogise you when your story is still being written ? You are meant to be here,you had so many plans.
Egbon you were only at the beginning ki lo se Le?????
How can life be so cruel? It just didn’t seem like it was your time yet.
I have so many questions but who will answer them?
Craigo you were a good man, a fineeeeee gentleman, a solid achiever, a kind hearted soul.(can’t believe I’m writing in the past tense)
There are so many wonderful things I can say about you.
You were smart, hard-working, responsible, funny and determined.
You were the glue in the family and would always scold me not to hold grudges. You hated strife,
and continually advocated peace and unity. You were full of divine wisdom.
On the day the news broke Timi was completely crushed and kept saying “it’s not fair”…..I must say
I feel the same way.. Father in Heaven you could have averted this …..I just submit to God’s will.
Who are we to question God.
Bimbo you were a special breed. One of a kind! I’ll miss seeing you turned out in your dapper outfits. You loved your pink shirts , pink trousers that I use to tease you about.
You were the fashionista per excellence!!
I will miss our banters, your smiles and jokes. Never a dull moment with you.
“Chairman of the chop life gang” I use to call you. You were accustomed to the finer things of life. “Igbadu”master My dear Egbon, you were an unusual mix. Never used your Pedigree as a source of influence.
You cut across different classes, ages and cultures. If we took you to Buckingham place you would fit in like a glove, just as you would if you were taken to the interiors of our rural villages. No airs or graces, you were humble, down-to-earth, no fuss and no pretences.
Why, why, why, did you have to go , I keep asking myself …. especially at a time when things were really looking up for you, you had so many plans … that was just about to start unfolding.
My daddy Ladun hmmmmm ko yemi o!!!
This was not the plan!!!! I keep praying it’s a bad dream and I’ll wake up.
You were not just a brother you were a friend.
In your short sojourn in this earthly world you amassed incredible and laudable achievements. I guess it’s not how long but how well.. you came, you saw and conquered. You ran a good race.
You left indelible marks in the sands of time.
I am so proud of you my dear brother.
Your friendship and absence will be greatly missed.
Titi is completely broken and shattered, Ladun and Timi inconsolable !!! I pray the Almighty God will console, keep and nurture your beautiful wife and lovely children till the end.
They will fulfil their destinies in the name of Jesus.
I am comforted that you are in a better place resting in the bosom of our dear Father.
ABIMBOLA, Craigo, baba legba, meron, daddy Ladun … you live on in our hearts and minds. We will miss you and family reunions will never quite be the same without you.
Goodnight Bims
Love you deep
Lape Adebayo
A MAN OF IMMEASURABLE JOY AND PEACE
There can be no better tribute from me to Otunba, Bamofin, than to commend his memory to parts unknown, and to those who do not know, and eulogize him in his native tongue as “Aburo bi egbon” – Amoye, Ojogbon, Omoluabi, Olola,Eniayo, Eni’re, Ayanfe Oluwa, Akanda eda… Each name carrying the weight of its true meaning to the well tutored as he. A man of immeasurable joy and peace, appeared as a star, lived with a heart of innocence, and departed with a bang so loud, we could hear here from 7,777 miles away, the sound of the rushing wind of God’s Holy Spirit carrying him away, as Elijah, laid on the wings of angels of God, singing welcome to the pilgrim of that night. From the depths of love to the height of peace, Otunba lived a life of contentment, with the caution of a legend, and quiet of a grand master, who boasts not in his achievements but credits all his laurels to the grace of God, He served. The Almighty, All Knowing, with His Son, Most Wise, endowed Bamofin with counsel and wisdom from the womb. So, as Proverbs 8:12– 21 says, prudence dwelt with him, and knowledge and discretion came from him; enduring riches and honor were with him; his fruit was better than gold; he traversed the way of righteousness; and in the midst of his path of justice, he caused many to inherit wealth.
Such was the time of Otunba: quietly redefining the law firm that established corporate law practice in Nigeria; giving back to worthy causes at home and at abroad; and like his famous father, becoming himself a corporate guru; and by dint of his hardwork and excellence, rising to the enviable position of being the Group Chairman of the Nigerian Exchange Group Plc. Here we must sing his praise for the many monuments he left behind – chief of which will be the role he played in the transformation of our capital market – leaving, as it is said, an indelible mark on the country’s financial landscape. No wonder he was preferred as an officer of the federal republic, and a distinguished awardee of his alma mater: Igbobi College, Yaba. Abimbola did not, as the scriptures say, grow weary while doing good, nor did he lose heart in seasons of disappointment – so the Lord filled his treasury with pleasure, and now by the same measure, he is now God’s treasure.
Konyin Ajayi
YOU WILL ALWAYS BE REMEMBERED FOR GOOD
Uncle Bims!!! This is so unbelievable, I have never been impacted by death like this, I can’t imagine the family without you in it.
So many ifs, so many why’s? All I know is that this one is hard to write. I remember my last joke with you about the picture you sent to me in January….
You will always be remembered for good…I made requests for referrals from you. It was never a hard thing for you to do. I got the emails immediately, My niece keji Odeyemi would like…. Good men never die….you came, you saw, you impacted.
Rest in perfect peace, Uncle Bims!!!!
Keji Odeyemi
YOU HAVE TOUCHED COUNTLESS LIVES
I can never deny the pain that I carry, but I would like us to remember him as a blessing and a lesson.
Abimbola my dearest brother, How do I write this tribute to you. How words fail me Bims, This is such a tragic loss, How do I say RIPP to you my brother, am still in shock, you left us too soon!
May you be safe in heaven now. Sometimes, only one person is missing, and the world seems depopulated. There’s no buddy like you. I wish R.I.P. meant Return If Possible. I miss you, my brother. Not a day goes by that I don’t think of you., I miss you so much, Bims. Losing you, is so bad. I will remember you always for your great charm and wit-I look up to the sky and talk to you. What wouldn’t I give to hear your voice again. I miss your voice. I miss your laugh, and I miss everything about you. Kai Bimbo, ELEYI DUN MI O!!! You will always be in my heart and on my mind. I promise to always look out for Titi, Ladun and Rotimi. Without you, it’s almost like the whole world has changed. You are in my thoughts daily and always in my heart, my brother.
You were a special person.! I miss you terribly! You are alive through my prayers and wishes, so rest peacefully, my brother. You have touched countless lives and lived through your good deeds.
SUN RE O, EGBON MI ATATA,
SUN RE BAMOFIN
ABIMBOLA OLUROTIMI
OGUNBANJO….
Love & Miss You
Omoba Adeolayimika Benson
YOU WERE THROUGH AND THROUGH A FAMILY MAN
My dear Uncle B, thank you for all that you were. I will miss you, dearly. I will cherish all our moments of gisting and gisting. Thank you for being that uncle I could always count on. I thank you for the home you built. You were through and through a family man. Always there for everyone and at every occasion. I will hold dear all our fun memories. Thank you for living a good life and finishing strong. Good night, Uncle Bimbola.
Bunmi Idowu
MAY GOD GRANT YOU ETERNAL REST
How could I have known that our conversation on that fateful day in December would be the last……
Words fail me!
Uncle Abimbola, you were larger than life. A devoted family man, loving brother-in-law, an exemplary achiever we were all proud to call our own.
You live forever in our hearts, unforgettable, irreplaceable!
May God grant you eternal rest in His bosom.
Sleep well brother!
Sola Kuku
SLEEP WELL
Dear Bimbostic, as you would always call me Enostic. You would be deeply missed . Sleep well in the bosom of the Lord.
Eno Udoh
YOUR LIGHT WILL NEVER DIM
In loving memory of egbon Abimbola (Abi) Ogunbanjo, a beacon of wisdom and leadership. I first crossed paths with him during his tenure as Commodore of the Lagos Motor Club, where he exuded grace and passion for community. However, it was during his time as President of the Council at the Nigerian Stock Exchange that I truly came to know him.
During his visit to Chicago with senior management and the Council of the Nigerian Stock Exchange to study the operations of the CBOE and CME, I had the honor of hosting a reception for leading business figures keen on learning about the Nigerian capital market. Abi’s instrumental role ensured great attendance and participation, laying a solid foundation for my transition into the financial services industry in the States after working in Nigeria.
Despite his demanding schedule, Abi always made time for his aburos. I cherish the memories of our dinners in London, New York, Atlanta, Chicago, and Lagos, where amidst his busy schedule, he shared wisdom, laughter, and camaraderie. These moments were a testament to Abi’s character, showcasing his genuine care and commitment to nurturing the next generation of leaders.
Abi’s impact on my professional journey was profound. He not only provided guidance but also opened doors to new opportunities. One such pivotal moment was when he introduced me to the Nigerian American Business Forum held in Tampa. Through his introduction, I forged invaluable connections.
Although he was extremely accomplished, Abi remained remarkably humble. His humility was a testament to his character, serving as a guiding light for all who knew him. Though he may have left this world too soon, his spirit of leadership, humility, and generosity will forever resonate in our hearts.
Rest in perfect peace sir. Your light will never dim
Ayodeji Ayodele
REST IN PERFECT PEACE
Uncle B aka AO, Words fail me. I miss you and I love you so much.
Forever in my heart.
Rest in perfect peace.
Love always,
Your darling niece Funke “A Funkysho”
Funke Shonekan
THANK YOU FOR BEING AN INCREDIBLY GREAT BOSS
It’s still very difficult to grasp that you are gone my Group Chairman… Otunba. This is an awfully hard pill to swallow. I worked closely with you as the Group Chairman at the Nigeria Exchange (NGX). You would always reach out to me to task me with something. Each time I was elated to take on this task to ensure you were pleased. I remember deliberately not wanting to tell you or Sis Titi that I had interviewed for the job and had been offered the job. I wanted it to be a surprise to everyone.
I recall my onboarding as the Head of Government Relations at NGX when I had just joined the exchange. I had a virtual meeting with you and my CEO of NGX limited. You cracked me up so hard when the meeting commenced. Thankfully I could mute my mic and cackle. You started by saying “Good morning Chalya. I’ve heard so much about you…” I called Sis Titi soon after the meeting saying “uncle Bimbo denied me today.” She explained and we had a laugh.
Thank you for being an incredibly great boss and an awesome egbon. I pray that the Good Lord continues to comfort and strengthen Sis Titi, Ladun and Timi. And indeed the entire family.
Farewell Otunba.
Highest regards always,
Chalya Shagaya
Director General
NIAMS
YOUR SPIRIT WILL CONTINUE TO BRIGHTEN OUR LIVES
Uncle Bimbola, your fun-loving spirit brought light to every gathering. You had a remarkable ability to infuse every moment with joy, whether it was through your playful behaviour or your willingness to lend a listening ear.
You were always ready to offer a helping hand or a word of encouragement to those in need. Your legacy of love and laughter will forever echo in our hearts, a reminder to cherish each moment and spread kindness wherever we go.
I’m glad for the opportunity I had to interact with you. I keep having flashbacks of all the times we spoke while I was managing your account with the bank I was working then.
Farewell, dear uncle, your spirit will continue to brighten our lives in ways both big and small.
Rest in peace, your memory will live on in our hearts forever.
Oladunni Arije
A BRIDGE BUILDER ACROSS CLASS AND DIVISION
Salam. With total submission to the Will of Almighty God, the Gentle giant departs . Abimbola Ogunbanjo . I am really struggling to say anymore . In between the imagination of the event that took you away or coming to terms with the reality of it . Events like this remind us that we are more than the flesh, and the spirituality of man is real . You were special in every sense of the human definition . Relationships of every kind meant a lot to you and handled them admirably.
You were regularly in touch with people in various ways, consciously and cautiously. Ever so proud and protective of the great name you inherited and the determination to build on it. You carried yourself with dignity at all times and remained a pillar in the Ogunbanjo family as a whole and asserted yourself therein as a reference point throughout. A bridge builder you were across class and division. You made current affairs and the trend of the Nigerian economy/ political challenges your concern. You bring them up for scrutiny, almost on a daily basis. Now. What can we offer beyond our prayers , consolation, or possible support. Only God can heal the wounds of your exit, particularly on your dear loving wife, children, brothers, and sisters and extended family all the way to Eruwon and far beyond. May the kindness and mercy of Almighty God never depart from all you have left behind May Almighty Allah bless you with Aljanah firdaus eternally. Ameen
bijaikun fayakun.
Adesegun Muhammed Muru’f Ajibola
If Bimbo’s friends were asked to describe him, there would undoubtedly be a convergence of adjectives that speak to his sincerity, reliability, consistency and generosity of spirit. His ever readiness to dispense frank and wise counsel was an additional hallmark and his hearty laugh was endearing. He will be greatly missed. May Bimbo’s soul rest in perfect peace and may God comfort and encourage Titi, their children, their entire family and the many lives he touched. Amen.
Victor Olusegun Adeniji
There are special people in our lives who never leave us, even after they are gone. Bimbo rest where the Lord has prepared for you. You are in a better place in Paradise, to rise in glory. May your gentle soul rest in perfect peace. Amen.
Mrs Irene Ladebo
Great Bimbo, forever the affable character. Bimbo was a few years ahead of me at Millfield School. He told me that our attending the same school made us brothers for life. I am sure that most of us will attest to the fact that Bimbo was big on his old-boy networks. He never failed to invite me to anything he was doing, or an old boy network function. My lasting memory of Bimbo was him puffing on a very big cigar during his marriage ceremony to his beautiful wife, Titi. That was the only time I traveled to Ijebu Ode. At the Met Club we sat on the same table, whilst at the Boat Club we served in the same committee. He always had a word of wisdom on issues. Typical Bimbo for you, larger than life. He will surely be missed. May his gentle soul rest in perfect peace.
Hewett Benson
Dear Bimbo,
The news of your passing has left a void in so many hearts—a space that can never be filled. You were more than a friend; a confidante to so many people. You touched so many lives.
Your absence leaves a silence—a quiet ache that reminds us of the precious gift of friendship. But even as we mourn and we prepare to say Goodbye, It is not the end. It simply means till we meet again.
We celebrate the impact you had on so many lives. The warmth of your smile, your wisdom and your gentle calm nature. The world may have lost an incredible soul, but heaven has gained an Angel.
We pray that you Wife, Children and Family take comfort from all the testaments to your qualities, the life you led and the number of lives you touched along your journey on earth.
We, your friends, will continue to honor your legacy by spreading kindness, laughter, and love.
With heartfelt sincere condolences,
Ade & Sumbo Odunsi
In life one often meets and walks the path with Titans who though themselves may not have been on a journey to disrupt end up doing just that. Craig was to me one of such persons. His professional life saw him rise through the capital market of Nigeria to become the President of the Nigeria Stock Exchange and later earn the right to be the Chairman of what is now the NGX. What a feat!
I had the pleasure of serving under him on the Committee of the Lagos Motor Boat Club where he served as Commodore. There I witnessed the dexterity with which he handled controversial issues which often plague private clubs that have members with huge and unforgiving egos. Craig was always at his best marshalling principles of fair hearing and differing opinions but maintaining a stern and decisive leadership.
I had the privilege and now treasure having had what could be described as a last supper with him, when on the 6th of February just before he travelled he had requested I join him at the Metropolitan Club to have lunch with a Deji Adeogun-Phillips in support of his application for membership. I had initially turned down the invite as I had a previous engagement to travel but once that was postponed, I hurriedly joined him and Deji. Speaking in fluent Yoruba as he often did he warned that things must be done speedily, as he would go away soon. He was his ‘natural Craig self’, as we spoke at lunch with him throwing jabs of Yoruba proverbs and words which I would then ask him the meaning in English.
Service to community, friends and family is one of the greatest achievements in life and Craig achieved and surpassed all of these with perfect dedication. For that I say his journey was purposeful.
I am certain Heaven’s Angels shall receive him with all the glory and song that befits such a lovely soul… and as a fellow Seaman, I pray, “May the waves of the seas lie smooth before you, may a gentle breeze forever fill your sails, may sunshine warm your face; and kindness warm your soul’’.
Afolabi Balogun
I was about to board my flight from Doha to Lagos when I heard the devastating news. It was the most anxious and gruelling flight I ever embarked on.
My dearest Egbon, Ever since meeting you approximately age 7 in London when you came to visit my brother Femi at 50 Bryanston square, in your dark brown leather trousers, flowing silk shirt and gold medallion, you always remained a constant in my life.
To now refer to you in the past tense is ever so calamitous. I ask myself, with your demise where shall I now seek structured, measured, pragmatic analytical advice? You were habitually solution driven, always carefully and diligently seeking the answer to the problem at hand.
I will miss your spirit of optimism and that infectious positive energy that you were able to so effortlessly transmit to your fellow man.
I will miss our constant banter , your jovial presence , your laughter and your persistent attempts to cheat in order for your team to emerge victorious at our annual family games nights.
I had always envisaged that you would grow old with a cane at hand, serving out wisdom to those in need , beginning your sentence with your trademark “hmmmmmm….Shomo” but alas heaven beckoned and called upon your counsel.
My dearest Egbon I will miss you ever so much, the pain is real and too much to bear.
Till we meet again . Rest in perfect peace.
One love always
Abi Kuku
My dearest Egbon, Bimbo.
It still remains a complete shock that you’re gone! I never could have phantom that with all the banter we had seated together during the Ògbéni Ọja Installation Festivities held Feb 3rd 2024, that it would be the last seeing or talking to you. Since you passed, I have had time to severally revisit our posts, messages and discussions we shared together which were of poignant interest. Those sessions are no more!
You were a complete Gentleman, a loving Kinsman and a kind brother to me. You stood by me during my maternal Grandmother’s funeral in 2007, likewise my Mother in 2022. Your Dad’s birthday never passed without a note from you to me seeking I please witness the day with you at Papa’s Ikoyi home. You were indeed a good Man!!!
Though you’ve left us, our memories of you and legacies you left behind will linger on and never be forgotten. May the Lord grant you eternal rest and guide, protect all the loved ones you left behind.
Sun re o. Egbon mi to sure.
‘Folu Aderibigbe
Bimbo dear, it is hard to believe that you are gone, in the twinkle of an eye. The world is devoid without your infectious smile and wicked sense of humor. No more Tutsie roll my nickname from you. I am forever grateful for knowing you.
I pray that Titi, Ladun, and Timi will continue to abide in our Lords graces.
Bye to my dear friend and brother
Tutu
Related
By Eric Elezuo
“On his part, the Executive Governor of Rivers State, Siminialayi Fubara, who has the mandate of the people of Rivers State to govern them for the next four years, has shown feebleness of character, by agreeing and appending his signature on a document containing such absurdity.
“He has betrayed the people who elected him as Governor and those who stood behind him in this cause. Mr Fubara has shown naivety in his actions; by signing that document, he has signed his death warrant, believing that the President will show him some sort of favours. Mr. Fubara’s mandate is Constitutional and so, he cannot surrender it in the face of intimidation from any quarter. And it is quite unfortunate. Did he go to that meeting to speak and justify his actions, or he went there to take directives from an equally elected President?
“As Governor of a State and as the Chief Security Officer of the State, he has shown tremendous lack of courage and competence. It will be in his best interest to resign if he cannot govern the State as constitutionally provided, or he may as well decamp and join APC, and be taking directives from Nyesom Wike and President Tinubu on the governance and leadership of the State,” – Chief Edwin Clark
This is not the best times for the Governor of Rivers State, Siminialayi Fubara, as he continues to battle for his political life even as he remained the constitutionally elected number one citizen of the state.
In the light of the above, the governor of Osun State, Ademola Adeleke, was recently quoted as describing Fubara as being in government but not in power.
Fubara’s travails started barely five months into his administration, when he reported fell out with his godfather and political benefactor, Nyesom Wike, the immediate past Governor of the state, and currently the Minister of the Federal Capital Territory. By October 2023, all hell was already let lose in the oil rich state.
Observers have said that Fubara’s refusal to be continually humiliated and have his executive authority undermined drew the irk of Wike. Consequently, a plot was hatched to impeach the governor with the majority of the members of the House of Assembly, who have unequivocally pledged loyalty to Wike. And so, Fubara’s political battle ensued.
The governor, according sources, was unperturbed as he had a majority of Rivers people behind him.
“Much as the elites of the state, who had had one form of connection or allegiance with Wike, were backing the FCT Minister, the man on the street stood solidly behind Fubara. And so, when the impeachment plot was noise about, the Rivers people came out enmasse, and quashed the attempt.
Fubara had vowed that he will resist any unjustified impeachment attempt against his government.
The remarks came on the heels of the crises that engulf the state when rumors of impeachment of the governor began to make the rounds.
Addressing a crowd of supporters at the government house, Fubara narrated how he was ‘shot at’ by OC operations on his way to ascertain the extent of damage resulting from a Sunday night fire incident at the Assembly complex.
“If I am impeached, I will not be the first person nor the last one. But any attempt that is not justified will be resisted,” the governor vowed.
But he was later to be ambushed, trapped and subjected to sign an eight point agenda, presented by the president and the men of Wike. Not a point of the agenda was to his advantage, stakeholders have reasoned.
They also reasoned that by his act, he had frustrated the backings given to him by the Rivers people and notable stakeholders like Chief Edwin Clark and Chief Ayo Adebanjo among many other men and women, who have stuck out their necks to protect both the constitution and democracy at play in the state.
However, the political crisis in the State, suddenly assumed a new dimension as President Bola Tinubu is accused of flagrantly desecrating the same provisions of the Constitution of the Federal Republic of Nigeria, which he swore to protect. His actions through the peace meeting he supposedly brokered, was dismissed by not a few Nigerians as extra constitutional, and without respect for the law of the land.
BACKGROUND OF THE CRISES
The crisis, which erupted as a result of the perceived desire of the former Governor of State, who is now the Minister of the Federal Capital Territory (FCT), Nyesom Wike, to control the mechanism of the state government to the detriment of the incumbent governor, Siminialayi Fubara, witnessed the massive decamping of 27 lawmakers to the All Progressives Congress (APC) from the Peoples Democratic Party (PDP), and resignation of nine commissioners, including the Attorney-General and Commissioner for Justice.
The long list of commotion, and the bid to stop the lawmakers loyal to Wike from possible impeachment of the governor, Fubara hastily demolished the State House of Assembly Complex, and in its wake obtained a court order, preventing the sitting of the decamped lawmakers at any place.
TINUBU’S INTERVENTION AND THE EIGHT POINT COMMUNIQUE
But the president, seeking to restore peace, invited the contending duo to Abuja for settlement. Reports say that while the loyalist of Wike were represented in their numbers, only Fubara attended from his own camp, leaving his people out of the negotiation. Fubara, according sources, was at this point trapped.
An eight Communique was subsequently drawn and signed to after the the meeting. The terms of settlement as recorded in the document, were dismissed as one-sided, and counterproductive both to Governor Fubara and the constitution of the Federal Republic of Nigeria. This therefore, begs the question as to the reason behind Tinubu’s desire to jettison the constitution, replacing it with his own drafted resolutions.
Reacting, Elder statesman and Leader of the Ijaw Ethnic Nationality, Chief Edwin Kiagbodo Clark, expressed disgust at the 8 point Communique released after the meeting.
The elder statesman, who could not hold his anger, while addressing the media, said they will resist any of such draconic, arbitrary and unconstitutional action of the president and Wike.
Clark accused the president of being bias, resolving the matter to the benefit of the loyalists of Wike, and leaving Fubara to hang in the wing.
He said, “However, the terms of settlement as contained in the Communique issued at the end of the reconciliatory meeting is what is baffling, appalling and unacceptable to the people, especially, the Ijaw ethnic nationality. From the terms of settlement, it is obvious that President Tinubu sees his role as a mediator, to once again, show gratitude to the current Minister of the Federal Capital Territory (FCT), for “delivering” Rivers State to him during the past Presidential elections, having first of gratified him by making him the Minister of FCT.
First Observation:
The composition of the attendees of the meeting was one sided in favour of Nyesome Wike, the Minister of the Federal Capital Territory (FCT), because while Martins Amaewhule, a former Speaker, (because he has automatically lost his seat the very moment he decamped to another political party), was present at the meeting, it would have only been equitable and expedient, for Edison Ehie, the Speaker as affirmed by constitutional provisions and by the granting of the court, to be in the meeting, if there were sincerity of purpose.
The 8 resolutions reached, are the most unconstitutional, absurd and obnoxious resolutions at settling feuding parties that I have ever witnessed in my life. As a matter of fact, some medias captured it very well when they described it as Directives. And for the fact that such thing was done at the Villa, the seat of the Federal Government of Nigeria, is sacrilegious, because any place housing or is a custodian of symbol of authority, ought to be sacred.
It is obvious that Governor Siminialayi Fubara was ambushed and intimidated into submission. President Tinubu should know that with all the powers he possesses, he cannot override the Constitution. From all that transpired at the meeting, the laws of the land have not been obeyed. President Tinubu simply sat over a meeting where the Constitution, which is the fulcrum of his office as President and which he swore to uphold and abide by, was truncated and desecrated.
27 or so members (because the figure is not certain), of the Rivers State House of Assembly left the political party on which platform they were elected. The Constitution of the Federal Republic of Nigeria is very clear on that. Section 109 is quite clear on that and it says:
A member of a House of Assembly shall vacate his seat in the House if
Being a person whose election to the House of Assembly was sponsored by a political party, he becomes a member of another political party before the expiration of the period for which that House was elected:
Provided that his membership of the later political party is not as a result of a division in the political party of which he was previously a member or of a merger of two or more political parties or factions by one of which he was previously sponsored;
The Speaker of the House of Assembly shall give effect to subsection (1) of this section, so however that the Speaker or a member shall first present evidence satisfactory to the House that any of the provisions of that subsection has become applicable in respect of the member.
“Nyesom Wike is quite abreast of these constitutional provisions. He shouted his voice hoarse calling for the removal of persons like David Umahi as Governor of Ebonyi State, Ben Ayade as Governor of Cross River State and Bello Matawalle as Governor of Zamafara State, when they decamped from the PDP on which platform they were elected into office, to the APC, citing the above constitutional provisions. What has changed?
“A Court of competent jurisdiction has pronounced Edison Ehie as the Speaker of the Rivers State House of Assembly. That Ruling has not been vacated, and based on that he exercised the duties conferred on him by Section 109 (2) as quoted above, when the 27 or so members openly defected to APC, waving the flags of the party and singing President Tinubu’s campaign songs, from the Peoples’ Democratic Party (PDP). As at today and going by the Constitution, the Rivers State House of Assembly has four members who are recognised by the laws of the land Therefore, on what premise is Mr. President saying that the 27 decamped members should go back to the House? Under what political party, the PDP or the APC. The directives of Mr. President is absurd and cannot hold water. Mr. President should be aware that Siminialayi Fubara, today, is the elected Governor of Rivers State in the same manner Bola Ahmed Tinubu is the elected President of the country. And as a Governor, Mr. Fubara possesses all the powers as conferred on him by the Constitution.
2. Re-Submission of the names of Commissioners who have resigned their Appointments:
Another “directive” of Mr. President that the names of the Commissioners who were nominated by Nyesom Wike and who resigned on their own volition, and who have lost their trust in Governor Fubara, should be represented to the Rivers State House of Assembly for clearance to become Commissioners again, is ridiculous. Who is nominating them to become Commissioners again? Is it Mr. President? Was Mr. President thinking that he was mediating in a matter between Nyesom Wike and employees in Nyesom Wike’s private company? Is it what Nyesom Wike means when he talks about “structure”, referring to Rivers State as his personal holdings or enterprise?
3. Re-Presentation of a Budget already signed and passed into Law:
Another unthinkable “directive” of Mr. President is that a Budget which has been passed into Law, should be represented. It is absolutely ridiculous and unconstitutional.
“By President Tinubu’s actions and directives, he has overruled the Constitution of the country; he has shaken the foundation of the country’s democracy. People lost their lives fighting for democracy in this country. Today, President Bola Ahmed Tinubu, has made of no effect the blood of the freedom fighters shed to salvage this country. He has thrown the country’s democracy fifty years backwards; this is unacceptable. Rather than building a strong system and society, we are building strong, invidious characters, with our national patrimony through corruption and avarice.
“By the actions of President Bola Ahmed Tinubu, he has really shown his dislike and disdain for the Ijaw people. and confirms his hatred for them. And as the leader of the Ijaws, we will resist it.
“Nyesom Wike is not an emperor. For the eight years he was in power as Governor of the Rivers State, he ruled with an iron fist. As Governor, he will not accept such treatment from anyone, as he is spear heading to be meted out to the current Governor of the State, Siminialayi Fubara. Barr. Wike destroyed his opponent’s houses and even threatened to kill them as cried out by Senator Lee Maiba from Ogoni, and Dr. Abiye Sekibo from Okrika
It is still fresh in our memory, how Nyesom Wike, as Minister of State, Education, used federal might to fight the then Governor of Rivers State, Chibuike Amaechi that almost led to the grinding to a halt of governance in Rivers State when the Judiciary was closed down and the House of Assembly was shut down by the then Governor, Rotimi Chibuike Amaechi. President Jonathan did not interfere in his action because if he did, he will definitely be breaching Section 5(2) of the 1999 Constitution of the Federal republic of Nigeria, which President Tinubu has deliberately breached, despite his oath of office to uphold and promote the Constitution. Nyesom Wike is Minister now, and again, he is using the federal government to truncate the wishes of the people of Rivers State. The rule of law in the country is completely truncated by President Tinubu. While it will be noted that presently, the National Assembly is discussing on the Bill of Local Government Autonomy, President Bola Tinubu is directing Governor Fubara to put into effect, a Bill passed by people who are no longer law makers.
4. The members of the House of Assembly choosing where they will sit to carry out their legislative duties:
It is the duty of the executive to provide legislative accommodation for the Houses of Assembly including the National Assembly, and not the members of the House of Assembly to choose a place to meet. It is in this vein that President Bola Ahmed Tinubu, in presenting his Budget to the National Assembly, recognised the FCT Minister, Nyesome Nwike, as the land lord, because he is of the executive arm of government. It is the FCT that owns the National Assembly complex and maintains it. It is, therefore, ridiculous and unconstitutional for President Tinubu to direct, in his settlement, that the members of the Rivers State House of Assembly, should meet wherever they want to meet.
“We will resist such draconic, arbitrary and unconstitutional action by Mr. President and his customer Nyesom Wike. We will go to court to challenge this so-called one-sided and oppressive action of Mr. President.
Holding that ‘Enough is Enough’, Clark vowed to go court to seek redress on the ambushment of Governor Fubara
Also responding, a former Minister of Work, and two terms governor of Lagos State, Babatunde Fashola, constitutional lawyer, Femi Falana and other prominent lawyers in the country, mostly from the Niger Delta region, came out boldly to condemn the actions of Tinubu, saying his intervention is not required as the constitution doesn’t give room for such.
Meanwhile, a cross section of respondents have faulted the outcomes of the reconciliatory meetings with Tinubu, which they agreed that Fubara ‘erroneously’ signed.
They maintained that while he has fulfilled all the terms of the agreement to his own detriment, the camp of Wike has refused to live up to theirs, and continued to rattle the governor. They further accused Fubara of leaving behind the people who have stood solidly with to unilaterally sign a document that betrayed all the efforts put in place to checkmate godfatherism in the state.
A Rivers elder, who craved anonymity, said that for Fubara to get back on his feet, he needs to get back on the good books of the people.
“The governor must apologize to his people for taking the stand he took; for allowing himself to be armtwisted and trapped in such a manner that 27 already resigned lawmakers are back to their seats and threatening his administration. The same way nine resigned commissioners are also recalled,” he said.
Stakeholders have also berated those governors frolicking around the presidency seeking to curry his favour as men and women without adequate sense of history, saying that they are playing into his hands to interfere in every aspect of their administration including judicial pronouncements. They recall that it is this same Tinubu that stood up against former President Olusegun Obasanjo, and was applauded by Nigerians.
They see it as highly ironical that it is the same Tinubu that is today armtwisting governors to dance to his tune.
It would be recalled that most governors prior to their cases in the Supreme Court were regular visitors at the Aso Rock Villa, and after the judgments, were heard thanking the president for their victory.
“Are they giving the president kudos for what happened in the judiciary? Is the president the judicial officer. Are they not invariably giving the president the power of interference even in court matters. These Governors should think again,” a stakeholder queried.
The way it stands, if Fubara fails to rise to occasion, take his stand and fight for what rightly belongs to him, he will remain a stooge of Wike and his handpicked lawmakers.
The governor, as matter of urgency, must begin to regain the trust of the people, whose concern he jettisoned when he signed Tinubu’s eight point document, for any form of restitution to take take place.
Today, he is trapped in the political quagmire and lockjam, but there may hope in the coming days if he retraces his steps, but would he?
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‘How MTN Use Interconnectivity Rates to Stifle Other Telcos in Ghana, Nigeria’
Published
2 months agoon
January 25, 2024By
EricBy Eric Elezuo
A study conducted by a former aide to former President Goodluck Jonathan, Mr. Reno Omokri, has described how telecommunications giant, MTN, is stifling other companies in the industry, preventing them from engaging in healthy rivalry through high interconnectivity rates. The former Presidential spokesperson use a case study of Ghana and Nigeria to buttress his point.
In a documentary titled ‘How MTN’s Monopoly Destroyed The Ghanaian Economy. And Nigeria Is Next!’, which he produced after a painstaking investigation spanning several months and covering three African countries including Ghana, Nigeria and Kenya, Omokri expised the “practices of telecommunications giant, MTN and their effect on the economies of multiple sub-Saharan countries.”
The politician, who was in the camp of Atiku Abubakar during the last presidential election, declared that “the exposé traced the economic malaise now afflicting the Ghanaian economy partly to the monopolistic policies of MTN, which had led to an unprecedented capital flight from that beleaguered West African nation.”
He noted further: “Last year, Ghana was forced to label MTN a monopoly and slammed heavy fines of $773 million on them for damaging the Ghanaian business environment. MTN went to court, but in October, it was defeated at the Appeals Court, which ruled that the Ghanaian government was right in its classification of MTN.”
Omokri’s report is a consequence of researches to Ghana, where he interviewed government officials, chambers of commerce operatives, and labour union activists, as well as market women and ordinary Ghanaians; Kenya, where he was told that the shenanigans that happen with MTN in Ghana and Nigeria cannothappen there because the government live up to expectation, and are alive to their duties to the people; and Nigeria.
Some of the takeaways from his interviews in Ghana are that “ordinary Ghanaians were observed lamenting the erosion of their personal economy, with a market woman saying, ‘All of us in this country now work for MTN’.”
Also, “Labour leaders complained about MTN’s use of interconnectivity rates to stifle other telcos” and that “whereas all the large and medium-sized African nations where MTN is operating have struggling economies, the fastest growing large economies in Africa, such as Ethiopia and Tanzania, both with an average 6% GDP growth rates, do not have MTN operating in their countries.”
He reasoned that available data has proved that the situation could not be coincidental.
“The documentary also quoted Kevin Ekow Taylor, a prominent journalist in Ghana, as saying that: “MTN is basically monopolising the system. They have taken advantage of the market too much. It is all because government upon government have given MTN too much room.
“Every day, an estimated $2 million leaves the Ghanaian economy to South Africa, MTN’s home country. That is disastrous for a country with a GDP of less than $80 billion.”
Juxyaposing Taylor’s assessment, Omokri also quoted also a well-known Kenyan activist, Bishop Wycliffe Khaemba, who said: “The type of things that are happening in Nigeria and Ghana in the telecoms sector can’t happen in Kenya, because our government is alive to its responsibilities.”
He was referring to Kenya’s Information and Communications Act (Interconnection). This legislation is light years ahead of similar legislation in other African nations.
The Kenyan legislation specifically targets preventing a monopoly in the telecommunications industry by requiring “dominant providers to adhere to the principle of non-discrimination. A dominant interconnection provider is obligated to determine the interconnection charges based on objective criteria and to observe the principles of transparency and cost orientation. Failure to comply will result in the CA requesting the interconnection provider to adjust the charges or risk the imposition of a default interconnection charge by the CA.”
The documentary, now making the rounds on social media, also featured a prominent U.S. Mayor, Mike Arnold, the elected mayor of Blanco, Texas, who advised Nigeria and Ghana to look inwards, rather than outward to foreign goods and services, especially in the telecommunications sector.
It would be recalled not long ago, MTN Nigeria has been involved in an imbroglio with Nigeria’s indigenous telecoms company, GLOBACOM, owned by Dr. Michael Adenuga Jr. It threatened to disconnect Glo users from calling MTN numbers, over a supposed N6 billion debt, until the Nigeria Communications Commission (NCC) brokered peace, giving a 21-day period to restore parity.
It is also on record that Omokri has consistently advocated a delisting of MTN in Nigeria while Glo is prioritized as it is a wholely-owned Nigerian product.
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