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The 2023 Presidential Race Begins…

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By Eric Elezuo
What kind of year will 2023 be? Will it be the year of the Southeasterners, westerners or will the North insist on retaining the presidency as feelers from, and body movements of most Northern elites have suggested. Based on some undisputed facts, the Editorial Board of the Boss Newspapers took a cursory look at the shape of the Nigerian presidency come 2023 and concluded that the man or woman who will occupy the enviable seat of power at Aso Rock Villa surely will be among these distinguished few captured below.
This is in line with the utterance of an ex-Military President, General Ibrahim Babangida, who said during a recent interview, that the President of Nigeria in 2023 will be someone in his 60s, who has traveled round the country, made friends, and is endowed with a quantifiable experience that stands him out among the lot.
Babangida’s informed assertion therefore, disqualified the likes of Alhaji Atiku Abubakar, who is 75 now, and will be 77 in 2023 and Asiwaju Bola Tinubu, who is 69 now, and will be 71 in 2023.
It is on recorded that the last time the presidency berthed at the doorsteps of Southwest was in 1999, and it stayed till 2007 when President Olusegun Obasanjo relinquished power and handed over to late President Umar Musa Yar’dua. The South South region was privileged to have a go with President Goodluck Jonathan following the death of Yar’dua in 2010. Jonathan tried his luck at the polls in 2011, and was elected to run his own tenure, and relinquished power in 2015 after a loss to incumbent President Muhammadu Buhari.
However, since late General Aguiyi Ironsi became Head of State in January 1966 and was killed in July 1966, the South East has not been privileged to see nor taste the seat of Nigerian power. The closest the region has come was in 1979 when late Dr Alex Ekwueme became the Vice President. It is therefore like forever since the southeast led the country from the topmost position.
It has been 14 years, and by 2023, when the political drum beats sound again, it would have been 16 years, since the southwest last tasted power, and their clamour to have it again can be justified, say some political analysts. And the region is already jostling for the numero uno position in Nigeria.
Though none of the parties has zoned the presidency as it is an unwritten norm of the past, there are strong indications that the ruling All Progressives Congress (APC) would be looking southwards this time around.
Already key stake holders of the party are speaking about the possibility. A few days ago, Borno State Governor, Babagana Zulum, speaking at a book launch insisted that power should shift to the South. It is also because of this seeming “body language” of the party that Ebonyi State Governor, David Umahi, defected to the ruling party, and we gathered that other Governors in the South may also jump ship to take a shot at the juicy position.
Available statistics have it that if the APC keeps their promise of returning the presidency to the south, as President Muhammadu Buhari, who is from the North, will be concluding his stewardship in May 29, 2023, the likeliest beneficiary may be the Southwest. This is because the region is basically the stronghold of the APC in the South. They can boast of five governors out of the available six in the region. The Southeast has only two governors, both of which have circumstantial trajectories.
While in Imo, the party got the governorship through a a Supreme Court pronouncement even as their candidate, Hope Uzodinma, came a distant fourth in the election, the Ebonyi situation is a consequence of defection. The bottom-line however, is both states are APC states. The South South is not even in the radar as all six states in the region are opposition Peoples Democratic Party (PDP).
Even if zoning to the South does not mean the South West or the Yoruba race but the most prominent gladiators in the APC are certainly from that part of the country, and they all have intimidating credentials that is fitting for the top job.
Already, all manner of groups are being formed by their cronies and proteges, posters and billboards are being mounted while high wire negotiations have begun, but only a few individuals have officially made a declaration, a former Deputy Governor of Central Bank, Dr Kingsley Moghalu, one of them.
However, the story seemed to get a little twisted as Tinubu, an avowed kingmaker, is seeking to become King. But as experienced as he is, gunning for the presidency is not a familiar turf even as age is threatening to put paid to his ambition. If he is finally out of the way, most candidates of the southwest origin will throw their hats in the ring without fear.
Tinubu, who without mincing words, has a hand in the electoral victory or political appointment of many south-westerners, and who many of the political elites have stood on his shoulders to stardom, may not have the leverage to actualise the dream of becoming president. His ill-health, of recent, is not helping matters.
While there are many of Nigerians, who are interested in the presidential villa or who are fit, considering their pedigree, for the exalted office, there are many names being touted as eyeing the Presidency come 2023. However, the following are the leading lights according to a short survey conducted by our Board of Editors.
Below therefore, are the men likely to be President as the race for 2023 begins…

PROF YEMI OSINBAJO

Professor Yemi Osinbajo, the current Vice President of the Federal Republic of Nigeria wears the toga of a perfect, cerebral gentleman. Osinabjo who is the highest-ranking Yoruba office holder in the country today should be the easiest choice for the Yoruba if everything was equal. But everyone knows that in politics, things are usually not as they seem.

The Amiable VP, respected and learned, is no push over in any ramification. He has proved his mettle in the few areas he been allowed to perform, and knows his onions.

Many believe that the former Attorney General and Commissioner for Justice of Lagos has the capacity and ability to unite the nation, especially at this time that the drums of succession and banditry has filled the air.

What gives Osinbajo an edge is the fact that he has acted in the position of president and passed with flying colours.

When his principal, President Buhari was away for about 150 days on medical vacation, Osinbajo showed his stuff. He was firm and fair and took decisions that won him accolades even among his most vociferous critics. The positive impact his decisions had on the economy is a trump card he could use when the chips are down.

Osinbajo is not a hardcore politician, and many Nigerians believe that the country does not need another career politician at this time, but a tested technocrat, who has academic prowess and mental depth. Osinbajo is certainly the man.

Another plus for the number two man is the fact that having spent six years, and soon will be spending eight years, in the corridors of power, Osinbajo is now an insider, who knows the working of the presidency and can correct the wrongs of the present administration as well as conduct a veritable surgical operation on all malfunctioning areas.

Recall that in 2020, a group under the aegis of Friends of Prof gave out N1 million each to twenty businesses as  Initiative for Small Businesses, to celebrate the 63rd birthday of Vice President Yemi Osinbajo. Observers say that the effort is only geared towards creating relevance for the Vice President as 2023 approaches.

And then of course, being a Christian, the issue of getting a northern running mate will not pose any challenge for the Redeemed Pastor.

On the downside, the VP is seen as lacking political capital even in his native Ogun State. Many also believe he may not have the muscle to take serious decisions and stand up to the Northern cabal.

They allege that his golden silence regarding the poor performance of the Buhari administration has shown that he may not be able to be his own man.

Many of our respondents are of the opinion that an Osinbajo Presidency will definitely be different from the current Osinbajo Vice Presidency.

BABATUNDE FASHOLA, SAN

From an outstanding performance as Governor of Lagos State, Babatunde Raji Fashola SAN, became a Super Minister, supervising three stand alone ministries: Power, Works and Housing.

A legal practitioner by training, Fashola was the Chief of Staff to Tinubu during his tenure as Governor of Lagos State. He rose to become governor after Tinubu completed his tenure in 2007. He was reelected in 2011, and relinquished power in 2015 to Akinwunmi Ambode.

He is seen as a silent performer and a technocrat who is trusted by President Buhari, and that explains why he was saddled with the responsibility of managing three powerful ministries in the first tenure of the administration.

His eight years as governor in Lagos, with executive powers, is enough to prove the kind of administrator he is, and would be as president. The fact remains that given the estate called Nigeria to run, he would do more than a good job to get the country back on track.

Though many say Fashola’s sterling profile shrank big time with his seeming poor performance as Super Minister, many still adjudge him as fit for the job of president.

They are of the opinion that as Minister, he had no free hand and thus as President, he would be able to exhibit his can-do spirit as he did when he ran Lagos.

DR KAYODE FAYEMI

The Governor of Ekiti State, John Kayode Fayemi, is another technocrat, who is well versed and equipped to take up the mantle of president.

Presently serving the second term of his tenure as governor, Dr Fayemi has first-rate credentials as a good administrator.

His supporters say that as the current Chairman, Nigeria Governors’ Forum, the next place for him after leaving office is Aso Rock. This position has also helped him forge alliances across the nation that could be critical in the quest for the presidency. And more importantly, it will be easier for him to mobilize his colleagues to his side at the APC primaries.

Furthermore. It is also said that his experience and expertise in Military Studies would be excellent points to consider since the country is currently battling severe insecurity challenges.

Also, Governor Fayemi’s persona as a fighter and a respecter of the rule of law are attributes that would add to his suitability for the big position.

The only problem with Fayemi is that as Minister of Solid Minerals, he had very little impact, many were of the opinion that if he could not excel at a small assignment like that, how would he be able to run the nation?

Again, his second coming in Ekiti State has not witnessed the kind of massive turn around that would position him as a performer par excellence.

AKINWUNMI AMBODE

Akinwunmi Ambode, the immediate past Governor of Lagos State, who was unceremoniously sent packing may be the dark horse of this race.

Ambode, who in his short stint stamped his signature on Lagos with many audacious and legacy projects, managed to gain the sympathy of the Presidency, the APC and the North.

He reportedly mobilized resources for the party during the general election and the party eggheads are still grateful till tomorrow.

An Accountant by training, who has supervised meticulously the accounts of Lagos State over the years, retiring as Accountant General, Ambode is a man who has shown capacity as an excellent manager of men and resources.

With his appointment as Member of the APC Contact and Strategy Committee, tongues have begun to wag about the possibility of an Ambode presidency. This appointment has birthed more appointments to his favour, signifying that he has a more stronger backing than his immediate Lagos constituency.

AMINU TAMBUWAL

Tambuwal would have gone down in the history books as one of the trusted if not the only trusted northerner among the lot seeking the seat of power but for his abandonment of the oligarchy when he defected to the PDP. However, he is still seen as the person who will work 100 per cent in the interest of the north.

As a prelude to the 2019 General Elections, The Boss authoritatively reported that the Peoples’ Democratic Party (PDP) was concluding plans to adopt Tambuwal, as its flag bearer.

Though that was not to be, the report was based on reliable sources which told TheBoss that the rank and file of the main opposition party is wooing the governor, who just before the 2015 election, ditched the party for the APC where he won the Sokoto State governorship election. Today, Tambuwal is back to the party with clear intentions of taking the party back to the power they lost.

Tambuwal, who until May 2015, was the Speaker of the House of Representatives, has maintained a low profile, speaking only when it is absolutely necessary even as the Chairman of the exalted PDP Governors’ Forum.

Touted as one of the most qualified to wear the crown of presidency come 2023 because of his youth and sundry achievements within a short period of time, Tambuwal was born on January 10, 1966 in Tambuwal village, Sokoto to Alhaji Waziri Tambuwal.

He attended Town Primary School, Tambuwal, Sokoto State, where he obtained Primary School Leaving Certificate in 1979 before moving to Government Teachers’ College, Dogon-Daji, where he equally obtained the Teachers Grade II Certificate in 1984.

Connected and versed in national and world politics, Tambuwal had his tertiary education at the rated Usman Dan Fodio University where he studied Law, and graduated with a LLB (Hons) degree in 1991. He was called to the bar in 1992 after completing his one year compulsory legal studies at the Nigerian Law School.

From the influential Sokoto Caliphate, those who see Tambuwal as a potential believe that his origin will stand him in good stead to gain the confidence of the Hausa/Fulani traditional rulers as well as gain the trust of the powerful political class. And this happen to be one of the major reasons he is thrust forward.

Another strong point that makes him an attractive candidate is the immense connection that he has across the country. On account of his former position as speaker he has contacts in all parts. In addition, his energy and youthfulness is a big plus. More so, the clamour for a youth president will somehow give me an edge over his closest rival.

Tambuwal’s immense support among the opposition’s inner circles stems from the fact that he is seen as an untainted politician, who can be firm when necessary and also has a squeaky clean image that will adhere him to floating voters.

He started learning the legislative ropes since 1999 while working as Personal Assistant on Legislative Affairs to Senator Abdullahi Wali, the then Senate Leader.

In 2003, he decided to run for a legislative seat as representative of the Kebbe/Tambuwal Federal Constituency. He was elected into the House of Representatives on the platform of the All Nigeria Peoples Party (ANPP).

Articulate and savvy, Tambuwal held several positions in the House. In 2005, he became the Minority Leader of the House until he defected to the PDP. Upon his re-election to the House in 2007, he was also elected to the office of the Deputy Chief Whip.

Tambuwal’s experiences at the bar and in politics have propelled him to enviable of position of one of the most recognizable politicians in Nigeria.

But again, Tambuwal is a core northerner who has little or no influence in the south; either west east or south. His influence do not even cut across the north central. It is therefore, difficult for Tambuwal to pick the much desired ticket not to talk of defeating Buhari in 2019.

RABIU KWANKWASO

Among the political heavyweights in the ring of wrestling the presidency from the APC come 2023 is the strong man of Kano politics, Alhaji Rabiu Musa Kwakwanso. He is the subject behind the popular Kwankwasiyya Movement that has made and continued to make waves in the Northern political arena and beyond; the reputed former governor of Kano State, who posterity gave pass marks for his eight years stewardship in the ancient city-state.

The first time Kwakwanso gave a hint of his presidential intention was at the much attended funeral ceremony of late elder statesman, Dr. Alex Ekwueme in Anambra State, prior to the 2019 election. And since then, he has not looked back. Kwankwaso is a serious contender.

It would not be forgotten in a hurry that In the prelude to the 2015 General Elections, Kwankwazo narrowly lost to the incumbent President, Muhammadu Buhari, at the party primaries held at the Teslim Balogun Stadium in Lagos. He beat former Vice President, Alhaji Atiku Abubakar to the third place. Today, followers of the Kano politician believe that there is a paradigm shift in the affairs of things, and the coast is clear to give anyone else eyeing the president a trouncing.

His advantage lies in earlier approval by Ex-President Olusegun Obasanjo and former Military President, Ibrahim Badamosi Babangida, to take over from Buhari should his illness become irredeemable Though Buhari made it back hale and healthy, is not record yet that the plan has changed

According to an APC chieftain at the time: “They may have settled for Kwankwaso, because of certain factors; part of the reasons is that more than any other politician in the North, Kwankwaso is seen as commanding a large followership in Kano and most states of the North-West.’’

Kwankwaso is believed to have the vigor to carry the weight of governance if elected as president as he is said to be very hard working, philanthropic, charismatic, faithful and sincere concerning all his commitments. His followers are also of the view that he will also carry everybody along.

Kwankwaso was born on October 21,1956 in Kwankwaso village of Madobi Local Government Area of Kano State. He attended Kwankwaso Primary School, Gwarzo Boarding Senior Primary School, Wudil Craft School and Kano Technical College before proceeding to Kaduna Polytechnic where he did both his National Diploma, and Higher National Diploma. He did postgraduate studies in the United Kingdom a Middlesex Polytechnic (1982-1983) and Loughborough University of Technology (1983 -1985) where he got his master’s degree in Water Engineering. Kwankwaso was an active student leader during his school days and was an elected official of the Kano State Students Association.

Kwankwaso started work in 1975 at the Kano State Water Resources and Engineering Construction Agency (WRECA), serving as a civil servant for 17 years in various capacities and rising through the ranks as the principal engineer.

In 1992, Kwankwaso was elected as a member of House of Representatives representing Madobi Federal Constituency. His subsequent election as Deputy Speaker in the House brought him to the limelight of national politics.

During the 1995 Constitutional Conference, Kwankwaso was elected as one of the delegates from Kano, as a member of the Peoples Democratic Movement led by Yar’adua. He joined the PDP in 1998 under the platform of Peoples Democratic Movement in Kano led by Mallam Musa Gwadabe, Senator Hamisu Musa and Alhaji Abdullahi Aliyu Sumaila. He was elected governor of Kano State in 2007 and served for two terms before being elected as a senator. He defected from the PDP in 2014 and returned on July 24, 2018.

ABUBAKAR BUKOLA SARAKI

At 58, young and very experience, the President of Senate, Bukola Saraki, like Atiku, is one aspirant who can boast of structures all over the country capable of giving him a solid ground to canvass for votes from Nigerians. Among his strongest selling point is the disillusionment that has so encompassed the Nigerian people that they clamour for urgent attention.

In a bid to provide good and impartial leadership, Saraki has on many occasions come head to head with his former party, the APC, and that explained their continued loggerhead till the day he finally called it quits.

Dr.  Saraki is reputed as a leader who does not have any qualms when it comes to working with and giving youths opportunity to prove their mettle. He has that uncanny ability to spot and deploy good talents. This is evident in his ability, during his tenure to give youths in their 30s and early 40s such as Mallam Bolaji Abdullahi, Governor Abdulfatah Ahmed, Zakari Mohammed and Razak Atunwa who was  the governorship candidate of the PDP in Kwara State among others the opportunity to flourish and showcase their potentials.

As a result of his sterling achievements, his colleagues did not think twice in electing him Chairman of Nigerian Governors Forum.

His achievements as governor and senate president speak for themselves, and are very glaring.

The major highlight of his administration as governor could be traced to Kwara becoming the first state to complete the Nigeria Independent Power Project, as well as re energised the Ganmo Power Station, Ilorin in collaboration with PHCN, connecting over 3750 rural communities to the national grid through the development and installation of 725 transformers and 7 substations.

Kwara also completed four electrification projects which meant power became stable 18–22 hours a day. 70% of people living in Kwara had access to electricity, compared to a national average in Nigeria of 30% at the time.

As Senate President, he has passed more bills within his first three years than any leader of the senate ever come close to doing for a whole tenure.

Abubakar Bukola Saraki was born on December 19, 1962 to the family of Olusola Saraki, a senator (1979–1983) and onetime Senate Leader of the Federal Republic of Nigeria, and his mother Florence Morenike Saraki. He attended King’s College, Lagos, from 1973 to 1978, and Cheltenham College in the United Kingdom from 1979 to 1981 for his High School Certificate. He then studied at the London Hospital Medical College of the University of London from 1982 to 1987, where he obtained his M.B.B.S (London).

Saraki worked as a medical officer at Rush Green Hospital, Essex, from 1988 to 1989. He was a director of Société Générale Bank (Nig) Ltd from 1990 to 2000.

In 2000, President Olusegun Obasanjo appointed Saraki as Special Assistant to the President on Budget. During his tenure, Saraki initiated the Fiscal Responsibility Bill. Saraki also served on the Economic Policy Coordination Committee, where he was responsible for the formulation and implementation of several key economic policies for Nigeria.

In 2003, he ran for the office of governor of Kwara State on the platform of the People’s Democratic Party (PDP), and won. He was sworn into office in May 2003. He ran again for re-election in 2007 and won his second term. As governor of Kwara, he led reforms in agriculture, health, education, finance and environment policy. One of his major achievements was inviting displaced white farmers from Zimbabwe to Kwara State and offering them an opportunity to farm. This led to the establishment of Shonga Farms programme, which is now being replicated across Nigeria. He also served as chairman of the Nigeria Governors’ forum.

NGOZI OKONJO-IWEALA

According to Wikipedia, Okonjo-Iweala was born on June 13, 1954 in Ogwashi-Ukwu, Delta State, Nigeria where her father Professor Chukwuka Okonjo is the Eze (King) from the Obahai Royal Family of Ogwashi-Ukwu.

Okonjo-Iweala was educated at Queen’s School, Enugu, St. Anne’s School, Molete, Ibadan, and the International School Ibadan. She arrived in the US in 1973 as a teenager to study at Harvard University, graduating magna cum laude with an AB in Economics in 1976. In 1981, she earned her Ph.D in regional economics and development from theMassachusetts Institute of Technology (MIT) with a thesis titled Credit policy, rural financial markets, and Nigeria’s agricultural development. She received an International Fellowship from the American Association of University Women (AAUW), that supported her doctoral studies.

Okonjo-Iweala spent a 25-year career at the World Bank as a Development Economist, scaling the ranks to the Number two position of Managing Director, Operations between 2007 and 2011. She also served two terms as Finance Minister of Nigeria (2003–2006, 2011–2015) under the leadership of President Olusegun Obasanjo and President Goodluck Jonathan respectively. She also had a stint in the external affairs ministry as minister.

She is a seasoned economist and international development expert. She sits on the Boards of Standard Chartered Bank, Twitter, Global Alliance for Vaccines and Immunization (GAVI), and the African Risk Capacity (ARC).

She is married to Dr. Ikemba Iweala, a neurosurgeon. They have four children – one daughter, Onyinye Iweala (AB, MD, PhD, Harvard) and three sons, Uzodinma Iweala (AB, Harvard, MD, Columbia), Okechukwu Iweala (AB, Harvard) and Uchechi Iweala (AB, MD, MBA, Harvard).

Okonjo-Iweala became a US citizen in 2019 after spending several decades working and studying in the United States. Many believe that given the ongoing trade tensions between China and the US, the disclosure may be a contributing factor in shaping China’s attitude towards her considering the trade conflict between the United States and China, the two largest economies in the world.

In 2012, Okonjo-Iweala contested for Presidency of the World Bank. She lost to Jim Yong Kim. Okonjo-Iweala was leter to emerge the Director General of the World Trade Organisation in November 2020.
AKINWUNMI ADESINA

It is not every day that spotlessly honest Nigerians walk the space of leadership within the country’s administrative atmosphere. Akinwunmi Adesina is one Nigerian who has left the footprint of achievements, accomplishment and determination on the sands of time.

It is believed in various quarters that an Akinwunmi Adesina presidency will restore the lost glory of the country. The way he stood and fought the international community when his mandate to return as the President of African Development Bank (AfDB), is a clear indication of how astute a person he is, and will stand to uphold the dignity and progress of the nation.

Born to a Nigerian farmer in Ibadan, Oyo State, on February 6, 1960, Adesina attended a village school and graduated with a Bachelors in Agricultural Economics with First Class Honors from the University of Ife, Nigeria in 1981. He was basically the first student to be awarded this distinction by the university. He followed up his studies at Purdue University in Indiana, briefly returning to Nigeria in 1984 to get married.

Afterwards, he returned to school, obtaining his PhD (Agricultural Economics) in 1988 from Purdue, winning the Outstanding PhD Thesis for his research work in the bargain.

Adesina’s professional career kicked off proper in 1990, when he served as a Senior Economist at West African Rice Development Association (WARDA) in Bouaké, Ivory Coast. He served till 1995.

He worked at the Rockefeller Foundation since winning a fellowship from the Foundation as a senior scientist in 1988. From 1999 to 2003 he was the representative of the Foundation for the southern African area. And from 2003 until 2008, he was an Associate Director for food security.

In 2010, he was appointed Nigerian Agriculture Minister, a post he held till 2015 when the administration of former President Goodluck Jonathan ended.

Adesina was named as Forbes African Man of the Year for his reform of Nigerian agriculture. He introduced more transparency into the fertiliser supply chain. He also said that he would give away mobile phones to farmers but this proved too difficult as a result of lack of mobile network in rural areas.

In 2010, United Nations Secretary General, Ban Ki-moon appointed him as one of 17 global leaders to spearhead the Millennium Development Goals.

On May 28, 2015, Adesina was elected the presumptive President of the African Development Bank. He began his tenure of the office on 1 September 2015. He is the eighth president in the organization’s history, and the first Nigerian to hold the post.

He launched a strategy based on energy, agriculture, industrialization, regional integration and bettering Africans’ lives. The Board of Executive Directors approved the reorganization of the structure around these five priorities.

In September 2016, Adesina was appointed by United Nations Secretary-General Ban Ki-moon to serve as member of the Lead Group of the Scaling Up Nutrition Movement.[10]

In 2017, he was awarded 2017 World Food Prize.[11] Upon receiving the prize on October 21, 2017. Adesina donated the $250,000 he received to the development of African youth in agriculture.

Adesina is not all work; he is very close to his God. While at Purdue University, he, his wife, along with another couple, started a Christian group called the African Student Fellowship. He and his wife Grace have two children, Rotimi and Segun.

As an Agricultural Economist, Dr. Akinwumi Adesina has been a leader in agricultural innovation for over 30 years. He has contributed greatly to food security in Africa, aimed at improving the lives of millions currently living in poverty, throughout the African continent. The Sunhak Committee acknowledges Dr. Akinwumi Adesina’s achievements in promoting Good Governance of Africa, which boosts Africa’s capacity to feed itself and transform its total economies for generating wealth for millions of rural and poor African farmers.

At the Cape Town International Convention Center, the Sunhak Peace Prize Committee announced him as a co-winner of the 2019 Laureates for the Sunhak Peace Prize, the other person was Waris Dirie, 53 year-old world-class supermodel and anti-FGM activist.

Dr. Akinwumi Adesina has been a leader in agricultural innovation in Africa for over 30 years, bringing great improvement to Africa’s food security. contributing to Africa’s dynamic growth. His leadership is building stepping-stones for Africa’s dynamic growth.

Chairman of the Sunhak Peace Prize Committee, Dr. Il Sik Hong, stated that “the Sunhak Peace Prize was established based upon the vision of “One Family Under God.” The 2019 Sunhak Peace Prize gives special attention to peace and human development in Africa.”

Dr. Hong added “in order for us to build an era of peace and coexistence in the 21st century, we want to encourage continuous development in Africa. Africa is a rising star and its growth will contribute global progress and development throughout the 21st century.”

The Sunhak Peace Prize honors individuals and organizations who have made significant contributions to the peace and the welfare of the future generations. The Sunhak Peace Prize includes a cash prize totaling one million dollars. The 2019 Sunhak Peace Prize Award Ceremony took place in February, 2019 in Seoul, Korea.

Dr. Akinwumi Adesina pioneered major transformations in the agricultural field, including expanding rice production by introducing high yielding technologies, designing and implementing policies to support farmers’ access to technologies at scale, increasing the availability of credit for millions of smallholder farmers, attracting private investments for the agricultural sector, rooting out the corrupt elements in the fertilizer industry, and assisting in establishment of major agricultural policies for Africa’s green revolution.

The “Africa Fertilizer Summit,” which he organized in 2006, was one of the largest high-level meetings in Africa’s history that had a focus on solving Africa’s food issues. During this Summit, Dr. Adesina was instrumental in developing the “Abuja Declaration on Fertilizer for the African Green Revolution,” whereby the participants stated their commitment to the “eradication of hunger in Africa, by 2030.”

Dr. Adesina worked with various banks and international NGOs in order to create an innovative financing system, providing loans to small farmers, providing a way for them to rise out of poverty. This move leveraged $100 million in loans and provided opportunities for small farmers to increase their agricultural productivity, and their income.

Dr. Akinwumi Adesina currently serves as the president of the African Development Bank Group which plays a central role in Africa’s development. As an “economic commander” of Africa, he promotes the “High 5 Strategy” that include: light up and power Africa, feed Africa, industrialize Africa, integrate Africa and improve the quality of life for the people of Africa. As a result of his work, the lives of millions of people throughout Africa have been improved.

NYESOM WIKE
“Wike’s strength lies in his ability to do unusual things while being underrated and disparaged without getting distracted. The courage to pursue his dreams has made him the most visible governor in Nigeria.” – Dele Momodu

The incumbent governor of Rivers State is arguably the best performing governor in today’s Nigeria. With six years in his kitty, and two more years to go, he has proven that turning things around is not actually rocket science. Today’s Rivers State is an evidence that governance is possible, and a host of Nigerians believe he can reciprocate the gesture when he occupies the number one seat of power.

Wike has delivered back to back dividends of democracy, cutting across all sectors of administration and human endeavours, and has earned for himself the sobriquet, Mr Project.

An Ikwerre man from Rumuepirikom in Obio-Akpor, Rivers State, Wike was born on December 13, 1963. He is an astute politician, irrepressible lawyer and undaunted hard worker, who is the sixth and current Governor of Rivers State. He is a member of the opposition Peoples Democratic Party and had his university education at the Rivers State University of Science and Technology after passing through De-General E-Processing Center and Government Secondary School, Eneka at various times.

Wike has a wealth of knowledge in the education sector, having served as Minister of State for Education and later Acting Minister of Education, during President Goodluck Jonathan’s administration. Focused, he resigned before finishing his term to campaign for Governor of Rivers State, which he won, defeating Dakuku Peterside of the All Progressives Congress (APC) and Tonye Princewill of the Labour Party.

A lover of education, Wike made elaborate plans for educational reform. He declared public primary and secondary education free. This he did shortly after he took the oath of office to start his second term, and refused to bulge even as complaints trailed his decision.

In 2019, Wike through the State Ministry of Education announced free registration for participating locals of the state in the annual JAMB examination.

He was considered a superman when he kicked-off the construction of three (3) major flyovers simultaneously in Port Harcourt. The location of the flyovers are at Garrison, Rumoukoro and Artillery. These are all completed today, commissioned and in use. In fact, that superhuman effort became the prelude to unending projects which bestride the nooks and crannies of the state

In his words: “I can walk around the entire Rivers State today without security because my administration and the PDP have fulfilled their promises to transform the state for the benefit of all.

“I have not disappointed the people of Rivers State and I have not disappointed the party that gave me the privilege to contribute my own quarter to the development of the state.”

Many people refer to Wike as stubborn, fearless and unbridled, and of course he is not far from any these by the way he conduct his affairs to ensure the people of Rivers State have the best of administration, and that no one is cheated. His detractors have unknowingly given him pass marks, making him one of the best candidates for the Nigerian presidency come 2023.

You only need to take a short trip to Rivers State, especially the capital, Port Harcourt, to fully come to grasp the magic the Governor of the state, Nyesom Ezenwo Wike is performing. It will never be an exaggeration to say that the outspoken governor has not only handed over the dividend of democracy to his people within his six years spell as governor, but has done it with much panache and fanfare, giving glory to God for all he has been able to do.

Between December 21 and 24, 2020, some road projects constructed by Governor Wike’s administration under the urban renewal programame were inaugurated.

Beginning with the Emeyal Elelenwo, Ndoni and General Diriyai Streets, which were commissioned by the Governor of Adamawa State, Ahmadu Umaru Fintiri, the team moved to the dualized Tombia Road and Amaji Street the next day, and they were commissioned by the Governor of Benue State, Samuel Ortom.

Following in the same track, Woji Road and Obaji Street were commissioned  on wednesday, December 23 with the Governor of Oyo State, Seyi Makinde as Special Guest of honour, while the reconstructed Aker Base Road Rumuolumini was commissioned on Thursday December 24 by the Abia State Governor, Okezie Ikpeazu.

These are in addition to the many numerous infrastructural projects he has executed, little wonder, the Vice President, Prof. Yemi Osinbajo despite being from an opposition party christened him “MR PROJECTS”

He is passionate about seeing a Nigeria that is better than what is presently obtainable.

“I regret that the yearning of Nigerians for better life, better education, health care system, basic infrastructure, have remained illusive because of the insensitivity of the incumbent Federal government,” he tweeted. He has therefore, not bothered to be on the good books of the ruling party, and has ceaselessly carried out his mandate to his people without fear or favour

Between December and date, the governor, has also  commissioned projects running into tens, not to mention hundreds of others still under construction. some of these projects include but not limited to Rumuekini-Aluu Road, Dualized Saakpenwa-Bori Road, Bolo Internal Roads, Internal Roads In Isiokpo, Ikwerre LGA, Isiodu Road In Emohu LGA, Eleme-Afam (Oyigbo) Road, GRA Phase Two Roads, Rebisi Flyover, Government House Clinic, which has been ‘ambitiously equipped to keep leaders at home instead of flying abroad for medicals,  Port Harcourt Pleasure Park, Ecumenical Centre, Cinema and Restaurant.

The new Government House Clinic is fully equipped with state-of-the-art operating theatre, top anesthesia ventilator, ICU Room, Endoscopy Suite, MRI Machines, Laboratory, Pharmacy and 24 hours ambulance service to serve elder statesmen, Government House personnel, judges and legislators. The clinic is endowed with a host of other equipment that perfectly conform to international standards.

Wike confessed that he was privileged to achieved all he has achieved because “no godfather is controlling me”.

Wike is not just a good party man, but very cordial. Behind that tough look is a man, who cares about his fellow man. In March, the Governor hosted some his colleagues from the Niger Delta including Edo State governor, Godwin Obaseki, Delta State governor, Ifeanyi Okowa, and Bayelsa State governor, Douye Diri during the commissioning of the Real Madrid Football Academy, which was done by the honorable Sports Minister, Mr. Sunday Dare. It was one moment of togetherness devoid of party politics; that is the vintage Wike. It must be noted that all majority of his projects have been commissioned by different notable personalities from across the country, and across party affiliations.

With humility, he has said that he is rushing projects ‘so as not to leave liabilities for my successor’. He is married to Eberechi, a high court justice, and they are blessed with three adorable children.

KINGSLEY MOGHALU

 

This former Deputy Governor of the Central Bank of Nigeria is without question an administrator par excellence, whose footprints in the sands of time, have elevated to the height of the most preferred in our today’s society. He is one of the reputable exports from the southeast, a position that may work against him as the 2023 presidential race gains momentum, in addition to not belonging to any of the two major political parties.

Born in Lagos on May 7, 1963 to a diplomat father by virtue of his profession, Isaac Moghalu, and a school teacher mother, Vidah Moghalu, the Kingsley spent his early childhood in Switzerland and Washington DC, where his father was posted.

Kingsley received his secondary school education at Eziama High School, Aba, Government College Umuahia, and Federal Government College Enugu. He later attended the University of Nigeria, Nsukka and earned a Law degree in 1986, and the Barrister at Law from the Nigerian Law School, Lagos.

A man with a great quest for learning, Kingsley obtained a Master of Arts degree in 1992, at The Fletcher School of Law and Diplomacy, Tufts University, Massachusetts, USA where he was the Joan Gillespie Fellow and a research assistant in the International Political Economy programme. He later obtained his Doctor of Philosophy in International Relations at the London School of Economics and Political Science at the University of London. As Professor of International Business and Public Policy at The Fletcher School of Law and Diplomacy he has taught, trained and inspired graduate students from more than 40 countries in North America, Europe, Africa.

Kingsley also earned the International Certificate in Risk Management from the Institute of Risk Management in London, and received advanced executive education in Macroeconomics and Financial Sector Management, Corporate Governance, and Global Strategic Leadership at the International Monetary Fund Institute, Harvard University’s Kennedy School of Government, Harvard Business School, and the Wharton School at the University of Pennsylvania. He is a niche higher than a bookworm, a classical egghead.

He joined the United Nations in 1992. His first recorded assignment was in Cambodia as a UN human rights and elections officer with the United Nations Transitional Authority in Cambodia.

Having distinguished himself in the field, he was a year later, appointed the political affairs officer in the Department of Peacekeeping Operations at the UN Headquarters in New York. He is for all intent and purpose, a well travelled professional, and by all means an international man.

A global leader who has made contributions to the stability, progress and wealth of nations, societies and individuals across such domains as academia, economic policy, banking and finance, entrepreneurship, law, and diplomacy, he served in the former Yugoslavia as Political Advisor to the special representative of the UN Secretary-General in Croatia between 1996 and 1997. He was assigned as legal adviser to the United Nations International Criminal Tribunal for Rwanda (UNICTR) in Arusha, Tanzania, in 1997 and later promoted to the role of the international tribunal’s spokesman.

As special counsel and spokesman, he was responsible for policy development, strategic planning and external relations. The UNICTR delivered the first-ever judgement by an international court on genocide.

In 2002, the finance expert was appointed to the World Health Organization in Geneva, Switzerland, as head of global partnerships and resource mobilization at The Global Fund to Fight AIDS, Tuberculosis and Malaria (GFATM), a public-private international development finance organization and social investment fund with $20 billion in assets and investments in 140 developing and middle-income countries. He was a member of the Global Fund’s senior management group that set corporate strategy, a member of the risk management committee, and was promoted to the rank of director in 2006.

In 2006, United Nations Secretary-General Kofi Annan appointed Moghalu as a member of the UN General Assembly-mandated Redesign Panel on the United Nations Internal Justice System. Working at the UN Headquarters in New York for six months in the first half of 2006, the Redesign Panel reviewed and made recommendations on how to improve the system of administration of justice at the United Nations.

The United Nations Conference on Trade and Development (UNCTAD) in Geneva, Switzerland appointed Kingsley him, in 2017, as a member of its high level Independent Expert Group on Financing for Development. The Expert Group reviewed and made recommendations on how to better achieve the Sustainable Development Goals and effective domestic resource mobilization for development in developing countries.

In December, 2008, Moghalu called it quits with the United Nations, and went ahead to establish Sogato Strategies S.A., a global strategy and risk consultancy, in Geneva.

While Moghalu was making international impact oversees, his activities were monitored back home as the then President, Umaru Yar’Adua, appointed him Deputy Governor of the Central Bank of Nigeria in November 2009 in recognition of his sterling services. He was saddled with the responsibility of managing Financial System Stability in addition to Operations, with supervisory responsibility for currency and branch operations, payment systems, and the management of Nigeria’s foreign reserves of $37 billion. Among his avalanche of achievements was leading the rollout of payment systems reforms including the development and introduction of the unique identifier Bank Verification Number (BVN).

It was also during his tenure that Islamic (non-interest) banking was introduced. He defended the decision explaining that it was one of several measures to expand financial inclusion and not Islamization agenda. He was a member of the Bank’s Monetary Policy Committee that brought inflation down into single digits.

His large image has seen him serving as a member of the board of directors of Opportunities Industrialization Centers International in Philadelphia, a non-profit global entrepreneurship development organization founded by the late US civil rights leader, Reverend Leon Sullivan.

He was also a member of the Monetary Policy Committee (MPC), the Committee of Governors (CoG), and the Board of Directors of the CBN, and also served as a member and representative of the CBN in the Economic Management Team of President Goodluck Jonathan. He served as the Chairman of the Boards of Directors of the Nigerian Export-Import Bank (NEXIM) and the Financial Institutions Training Centre, and as a member of the boards of the Asset Management Corporation of Nigeria, Securities and Exchange Commission (SEC), and the Kuala Lumpur-based Alliance for Financial Inclusion (AFI). He also represented the CBN as a member of the Board Executive Committee of the International Islamic Liquidity Management Corporation, headquartered in Kuala Lumpur.

He has been known to stand for truth and professionalism, and this at one time put him at loggerheads with his boss, Lamido Sanusi, who was the CBN governor. Sanusi was to praised his contributions later, and endorsed his presidential ambition, the same way the Ooni of Ife, Adeyeye Enitan Ogunwusi and nobel laureate, Wole Soyinka, did during the 2019 Presidential election.

In October 2019, he resigned his membership of the Young Progressives Party, to focus in the immediate future on advocacy for electoral reform through the non-partisan citizens movement To Build a Nation (TBAN).

In 2019, the Federation of West African Freelance Journalists Association named him “Nigerian Political Icon of the Year” in what the association called “the Nigerian Political Achievers Hall of Fame”.

A visionary thinker and philanthropist, Moghalu has founded the Isaac Moghalu Foundation, a non-profit organisation that provides support for literacy, educational institutions, and access to education for underprivileged children in rural communities in Nigeria. Moghalu has all the pluses.

DONALD DUKE 

Those who know the two term Governor of Cross River State, Donald Duke, have agreed that he was a total governor. He left nothing to chance, and at the same time left a legacy that has remained indelible; a legacy that has made him a sure contender for the position of Nigerian presidency anytime and against anyone. Donald Duke, without mincing words, is  one of the men to look out for when the drums of 2023 presidential contest sound. He passionate about Nigeria and that is probably why he has repeatedly thrown his hat into the ring since 2007.
Many believe that Duke’s invincibility in the political terrain was the reason he was denied participation during the 2019 presidential election, even as he belonged to a third force political party then, the Social Democratic Party (SDP).

He was born on September 30, 1961 in Calabar to Henry Etim Duke, the second indigenous and longest ever serving Controller General (then referred to as Chairman board of Customs and excise duties) of the Nigerian Customs service.

He had his education at Corona School, Lagos and Federal Government College, Sokoto, before attending Ahmadu Bello University, Zaria, where he bagged LLB degree in 1982. He got his B.L in 1983 from the Nigerian Law School, Lagos and a L.L.M. in Business Law and Admiralty in 1984 from University of Pennsylvania.

He was once quoted as saying that “What got the military out of power was not democracy but the dreadful state of the economy. If we, the democratic government, cannot deliver food for the mass of people we can forget about democracy.” He is desirous of the best for the people of Nigeria.

Duke received praises for his contributions to the fields of agriculture, urban development, government, environment, information and communication, investment drive, and tourism and making Calabar the cleanest city in Nigeria during his tenure.

The Obudu Ranch International Mountain Race which attracted contestants and visitors from other countries, is to his credit. In 2005, he created a special reserve fund for the state meant to ‘‘hedge against economic downturn, and the inevitable rainy day’’. He is absolutely visionary.

He also initiated the Calabar Carnival which started in 2004 and is popularly referred to as “Africa’s biggest street party” as well as the Tinapa Resort project as a way to boost business and tourism in the state.

Duke announced that he would run for the presidency in the 2007 presidential election, but stepped aside in favour of the eventual winner, Umaru Yar’Adua. He is bent on repeating the feat that saw become the toast of Cross River people and Nigerians at large when he eventually mounts the exalted Aso Rock seat.

CHIBUIKE ROTIMI AMAECHI

The total personality of two term Governor of Rivers State, and current Minister of Transport, Rotimi Chibuike Amaechi, is captured in this brief description by the Governor of Kaduna State, Mallam Nasir El-Rufai:

“Amaechi’s key leadership quality is his sense of inclusion, he likes to bring everyone on board, he loves teamwork, he empowers people to put in their best, he doesn’t pretend to know it all or try to do everything.

“He is one of the few politicians from the Niger Delta that is Pan Nigeria.

“I think in the history of Nigeria there hasn’t been any Minister of Transportation that has been able to achieve the landmark Amaechi has achieved in very difficult circumstances.

“I am very proud of you, am very proud to be associated with you, I am a beneficiary of your friendship, your love and your generosity.

“You have helped me a lot in my campaign, you have raised money for me, you have given me ideas on how to be a better politician and I have learnt a lot from you.

“I am confident that if and when Nigeria is looking for a leader that will take us to a higher level, you will be up there on the frontline among those that will be counted.”

And of a fact, Amaechi cannot be missing from the list of those seeking to be president come 2023. And of course, his close relationship with President Buhari is a plus for his quest to move into the vllla. Little wonder that he is the only Transport Minister to be reappointed.

Born on May 27, 1965  in Ubima, Ikwerre Local Government Area of Rivers State to the family of the late Elder Fidelis and Mary Amaechi, he had his early education at St Theresa’s Primary School between 1970 and 1976 before proceeding to Government Secondary School Okolobiri, where he obtained his West African Senior School Certificate in 1982. He was subsequently admitted into the University of Port Harcourt, and graduated in 1987 with a Bachelors of Arts degree (Honours) in English Studies and Literature. His political sagacity was nurtured while in the university, and he rose to become the President of the National Union of Rivers State Students (NURSS). Since then, he has not looked back on politics. He is a completely cooked administrator.

Upon graduation, Amaechi completed the mandatory National Youth Service Corps in 1988, and kick started his career almost immediately when he joined Pamo Clinics and Hospitals Limited owned by Peter Odili, where he worked until 1992. It was at this stage that he earned the trust of Mr Odili with his loyalty, diligence and commitment. It was not a surprise that he found himself in the corridors of politics as political events began to unfold, under the tutelage of Peter Odili. He was later to emerge Speaker of the Rivers State House of Assembly while Odili was the state governor, and both enjoyed the best of relationships.

As civil rule returned in 1999, signaling the beginning of the 4th Republic, he contested and won a seat to become a member of the Rivers State House of Assembly to represent his Ikwere constituency.

His accumulated experience in grassroots politics and went on to become the Chairman of Nigeria’s Conference of Speakers of State Assemblies. He was reelected into the State House of Assembly in May 2003 and was also re-elected as the Speaker.

Amaechi is known to use the instrumentality of the judiciary to fight his battles. In 2003 when the National Assembly moved to hijack the legislative functions of the State house of Assembly as enshrined in the constitution, he went to the Supreme Court and got a verdict stipulating that the control and supervision of local government is the prerogative of the State House of Assembly.

In 2007, he contested and won the Peoples Democratic Party Rivers State Governorship primary, but his name was substituted by the party. Again, like a man of peace, he went to court, and won. He became governor on October 26, 2007, without campaigning or standing for election. He was re-elected for a second term of four years in April 2011.

On November 27, 2013, he defected to the All Progressives Congress, and was the Campaign Director for General Muhammadu Buhari at the prelude to the 2015 election, and after the victory, he was appointed the Minister of Transportation, a position he holds till date.

In 2019, he was found worthy to again head re-election campaign of Buhari. He succeeded, and was re-appointed Minister for Transport.

Amaechi’s eight years as the Speaker of Rivers State House of Assembly saw the best of harmonious relationship between the legislature and judiciary, paving the way for wholesome development of the state.

As governor for two terms, his administration invested in infrastructure development, construction of roads and bridges, sticking to the vision of connecting all parts of the state by road. He was also committed to urban renewal and modernization of transportation services. The biggest blot in his book as governor is the mono rail, which has a been termed a multi-billionaire waste by critics. The carcass of the rail which snakes through the heart of Port Harcourt, Rivers State is asn eyesore that Amaechi would wish never existed.

Amaechi may have made enemies in the course of his duty, especially with the scandalous removal of former Managing Director of the Nigerian Ports Authority (NPA), Hadiza Bala Usman. He is also at loggerheads with the government of his home state, Rivers. These can work against his ambition.

YAHAYA BELLO

Governor Yahaya Bello of Kogi State

Kogi State governor, Yahaya Bello, has already declared his presidential ambition and he stands as one of the youngest office holder to take a shot at occupying the Aso Villa.

Born on June 18, 1975 in Okene, Kogi State, as the youngest of six children, Bello attended Local Government Education Authority (Nigeria) (LGEA) Primary School, Agassa in Okene LGA where he was the headboy in his final year. He later attended high school at Agassa Community Secondary School, Anyava, Agassa-Okene and obtained his Junior Secondary School Certificate Examination (JSSCE) and Senior Secondary Certificate Examination (SSCE) certificates from Government Secondary School, Suleja-Niger State in 1994. Bello studied at Kaduna State Polytechnic Zaria in 1995 and obtained an accounting degree from Ahmadu Bello University ABU Zaria in 1999. Yahaya Bello further enrolled for a Masters program in Ahmadu Bello University in Zaria where he obtained Masters in Business Administration (MBA) in 2002. Bello became a chartered fellow of the Association of National Accountants of Nigeria in 2004.

Governor Bello, who is a lover of sport and fitness, especially boxing, will be the toast of the youths if they mean business to wrestle power from the elderly.

However, the governor, who came to power courtesy of the death of Abubakar Audu, after winning the election, is not well reputed on the international scene. In 2020, he was among politicians placed on visa ban by the United States Department of State for undermining democracy in Nigeria.

He came head to head against a government agency during the COVID-19 pandemic, refusing the NCDC access to his state, saying he does not believe in the existence of the disease., and that it was ‘an artificial creation’. He has maintained that claim till date.

“Whether medical experts and scientists, believe it or not, COVID-19 is out to shorten the lifestyle of the people, it is a disease propagated by force for Nigerians to accept,” he was quoted as saying.

NASIR EL-RUFAI

Born on 16 February 1960 to a Fulani family in Daudawa, El-Rufai is serving his second term as the Governor of Kaduna State, and considered a presidential material for 2023.

Though he grew up as an orphan, whose father died when he was just eight years, El-Rufai is well educated. He attended Barewa College with late President Umaru Yar’Adua, who he criticised heavily in later years. In 1976, he graduated at the top of his class, winning the “Barewa Old Boys’ Association Academic Achievement” Trophy. before attending Ahmadu Bello University in Zaria, where he received a bachelor’s degree in quantity surveying with first class honours.

In 1984, he received a Master of Business Administration from Ahmadu Bello University. He has since attended several professional and post-graduate programs, including the Georgetown School of Foreign Service of Georgetown University in Washington, D.C and programs on privatization and leadership. In fact, he is well grounded, and has all it takes to be an aristocratic president

In August 2008, he received a law degree from the University of London; and a master’s degree in public administration from the John F. Kennedy School of Government of Harvard University in June 2009. He also received the Kennedy School Certificate in Public Policy and Management having spent 11 months as an Edward A. Mason Fellow in Public Policy and Management from July 2008 to June 2009.

In 1982, he founded El-Rufai & Partners, a quantity surveying consulting firm with three partners which he managed until 1998.

In 1998, following the death of military head of state, General Sani Abacha, his successor General Abdulsalami Abubakar appointed him as an economic advisor. In this role he worked with the World Bank and International Monetary Fund.

In November 1999, he was appointed the Director of the Bureau of Public Enterprises, and secretary of the National Council of Privatisation where he spear-headed the privatisation of several government owned corporations alongside Vice President Atiku Abubakar.

In July 2003, he was appointed the Minister of the Federal Capital Territory. During his tenure, he presided over a radical transformation of the federal capital earlier riddled with corruption and vast deviation from the original masterplan. With the establishment of the Abuja Geographic Information System, the capital became the first municipality in Nigeria with a computerised land register and information system.

The Kaduna governor carries trust wherever he goes, but his ability to manage ethnic crises in the state, has left sour taste in the mouth of most of his admirers. Many believe that he may not be a president for all as they see him as taking sides in the conflict that has engulfed the state in recent times.

PETER OBI

Proudly indefatigable, technologically savvy and former two term governor of Anambra State, Peter Obi, better known as ‘Okwute’ (Rock), is another important name on the presidential list.

Peter Obi is unassuming, amiable and boasts of a track record of prudence, performance and achievement.

Evidence of his shrewd administrative skills is the claim that when he was leaving office as Governor of Anambra State, a whopping  $230 billion was sitting in the treasury and consequently inherited by his successor, Willie Obiano. The amount was broken down as follows: $156 million in bank, N25 billion cash and N25 billion in local investment.

The soft-spoken businessman born in 1961, was the Chairman of Nigeria Security and Exchange Commission. Obi is famous for being one of the few men to have swam in the murky waters of Nigerian politics and have come out smelling like roses. He fought  the godfathers of Anambra politics and dealt decisively with rogue elements who have been feeding fat on government.

The 1980 Philosophy graduate of the University of Nigeria, Nsukka, Obi is an all-round businessman, he is alleged to have his hand in as many pies as there are available including trading, real estate and financial services.

A corporate titan, he has held such positions as Chairman of Next International Nigeria Ltd, Chairman and Director of Guardian Express Mortgage Bank Ltd, Guardian Express Bank Plc, Future View Securities Ltd, Paymaster Nigeria Ltd, Chams Nigeria Ltd, Data Corp Ltd and Card Centre Ltd.

At the twilight of his professional financial career, he became the youngest Chairman of Fidelity Bank Plc.

In 2019, he was considered by Atiku Abubakar as running mate based on his very amiable disposition, uncanny acumen for stopping unnecessary spending, never-say-die spirit and ability to connect effortlessly with the youths.

He appears the likeliest benefactor if at the end of the day, Nigerian political gladiators agree that power should shift down east,

Obi has a combination of political sagacity and sterling achievements as businessmen and economy minded person, and is fully prepared to hit the ground running from day one as President of the Federal Republic of Nigeria.

OBY EZEKWESILI

She is simply an amazon, and can rightly be described as experience and performance personified, having served in high profile positions at both national and international stages.

Oby Ezekwesili holds a Bachelor degree from the University of Nigeria, Nsukka, Master degree in International Law and Diplomacy from the University of Lagos, as well as a Master of Public Administration degree from the Kennedy School of Government, Harvard University. She trained with the firm of Deloitte and Touche and qualified as a chartered accountant. She is simply many things in one.

She worked with Professor Jeffrey Sachs at the Center for International Development at Harvard prior to serving as Federal Minister of Solid Minerals and later as Federal Minister of Education. Subsequently, she served as the Vice-President of the World Bank’s Africa division from May 2007 to May 2012.

She was a co-founder of Transparency International, serving as one of the pioneer directors of the Global Anti-Corruption body based in Berlin, Germany.

Her eye for details earned her the nickname Madam Due Process when she served as the pioneer head of the Budget Monitoring and Price Intelligence Unit during Obasanjo’s administration. She was the architect of the Bureau for Public Procurement legislation, the Nigeria Extractive Industries Transparency Initiative (NEITI) legislation, and the new Minerals and Mining legislation during her six and a half years stint in government. She is full of initiatives.

In 2012, she successfully completed her stint as the World Bank Vice-President (Africa Division). As Vice President, she was in charge of the bank’s operations of 48 countries in Sub-Saharan Africa and supervised a lending portfolio of over $40 billion.

In 2014, Oby Ezekwesili led the Bring Back Our Girls (BBOG) advocacy group to draw global attention to the plight of all persons who have been abducted by terrorists from Nigeria’s war ravaged northeast region.
In 2019. she joined the race for the presidency, but stepped down a month to the election owing to a divergence of values and visions with her political party, Allied Congress Party of Nigeria (ACPN).
OMOYELE SOWORE
A vociferous human rights campaigner, Sowore believes in nothing less than transparency, integrity and complete allegiance to the people.

He was born on February 16, 1971, and is versed in human rights activism and pro-democracy campaigns. He is a former presidential candidate, and founder of an online news agency Sahara Reporters.

He is from Ese-Odo, Ondo State but was born in the Niger Delta region of the country, where he was also raised in a polygamous home with sixteen children. Sowore’s passion and desire in media was propelled during the military rule in Nigeria.

A graduate of Geography and Planning at the University of Lagos, he spent six instead ogf the mandatory four years (1989 to 1995) as his academic programme was extended by two extra years after being expelled twice for political reasons and student activism. He was the President of the University of Lagos Student Union Government between 1992 and 1994 where he was involved in anti-cultism and anti-corruption advocacy. He also holds a master’s degree in Public Administration from Columbia University.

He is the leader/founder of the RevolutionNow group, and has been arrested by the police and DSS on many occasions. On August 3, 2019, Sowore was arrested by the Nigerian State Security Service (SSS) for alleged treason after calling for a protest.

He contested the presidency in 2019. He is the firebrand type, who if elected will definitely call a spade a spade.

IBUKUN AWOSIKA
The first woman to be appointed the Chairman of First Bank of Nigeria Limited, and a seasoned business woman, Mrs Awosika is a symbol of excellence and can do attitude.

Born Bilkisu Abiodun Motunrayo Omobolanle Adekola on December 24, 1962, as the third child of seven children in Ibadan, Ibukun completed her primary and secondary school education at St. Paul’s African Church Primary School, Lagos and Methodist Girls’ High School, Yaba respectively before she proceeded to the University of Ife (now Obafemi Awolowo University) where she graduated with a B.Sc in Chemistry. She holds post graduate and MBA certificates upon the completion of several business programmes at the Lagos Business School and IESE Business School – University of Navarra.

She is a fellow of the African Leadership Initiative and Aspen Global Leadership Network, Ibukun Awosika is a member of the Nigerian Economic Summit Group, member of the board of Nigerian Sovereign Wealth Fund and former Chairperson, Board of Trustees of Women in Management, Business and Public Service. In 2011, she co-founded the Afterschool Graduate Development Centre, a career centre established in order to checkmate the high rate of unemployment in Nigeria.

A boardroom wizard, Awosika has chaired so many mind-blowing meetings, and has achievements as her end result at every step.

BABAGANA ZULUM

This is one governor who hit the ground running immediately on assumption of office as the Governor of Borno State. He belongs to the young generation of administrators, who can rightly be termed firebrand.

Born on August 25, 1969, Zulum inherited a crises ridden state, but has steadfastly turned it around. He refused to be an absentee governor, but has been everywhere, arranging and supervising governance. Here is a man, who has not allowed the disappointment of terrorism becloud his promise of democracy dividend delivery in every sector.

He had his elementary  and secondary education at Mafa Primary School from 1975 to 1980 and Government Secondary School, Monguno from 1980 to 1985 respectively. Zulum studied at the University of Maiduguri, where he obtained a degree in Agriculture Engineering after which he served as a youth corps member with Katsina State Polytechnic. He proceeded to the University of Ibadan from 1997 to 1998, where he obtained a master’s degree in Agriculture Engineering. In 2005, he enrolled for a PhD in Soil and Water Engineering with the University of Maiduguri which he completed in 2009.

Zulum has proven to be a fearless leader, taking headlong the menace of terrorism and civil service inanities, and he has achieved everything he set out to do. His attitude is deserving of a presidential material.

SENATOR IBIKUNLE AMOSUN

Presently in the National Assembly as a Senator representing Ogun Central, Ibikunle Amosun fca is arguably the closest southwest politician to President Buhari. He is known to be a good networker, and cannot be said to have much regard anyone, no matter how invincible.

Senator Amosun is a silent operator and has used his position to better the lots of Ogun Indigenes at that Federal level. He is also well respected by many in the party.

Despite his political clout, Amosun, according to our respondents, may just not have the political muscle to get the backing of the heavyweights of the south as was seen during the Gubernatorial primaries of the APC where his candidate of choice was roundly beaten.

That is not all, as a Muslim, he may also have the muslim-muslim challenge that the APC would rather avoid.

Amosun may have to come back home and put his house in order, and not depend on Buhari’s influence if he intends to actualise a dream bestriding the Aso Rock Villa in 2023.

YAKUBU DOGARA

Yakubu Dogara’s chances, according to most analysts appears brightest, as he seems to be the only Christian northerner, whose eyes, remotely or otherwise, are on the plum number one position.

He was born to Yakubu Ganawuri and Saratu Yakubu on December 26, 1967. He began his education in 1976 at Gwarangah Primary School in the then Tafawa Balewa Local Government Area of Bauchi State. Upon graduation in 1982, he proceeded to the Bauchi Teachers’ College for his secondary education, and obtained a Grade II Teachers’ Certificate in 1987. In 1988, he went on to the University of Jos, Plateau State, from where he obtained a Bachelor of Law (LLB Hons.) degree in 1992.

Wikipedia reports that ‘from 1992 to 1993, Dogara was a student at the Lagos campus of the Nigerian Law School and was called to the bar in 1993. He later obtained a Masters (LLM) in International Commercial Law at Robert Gordon University, Aberdeen, Scotland.

“Dogara also attended a course on Managing and Leading Strategic Change in 2006, the Oxford University Course on Negotiation in 2013, and a course on Leadership in Crisis at the Harvard Kennedy School in 2014. In October 2016, after he had become Speaker of the House of Representatives, he attended a course on transformational leadership in Cambridge University, United Kingdom.

“He first took up employment in April 1988 as a teacher at the ATBU Staff School in Bauchi. In 1993, during the mandatory National Youth Service Corps, he served at NCCF, Akwa Ibom state. Upon completion of the NYSC programme in 1994, he went into private legal practice until 2005 when he was appointed Special Assistant to the Minister of State for Transport.

“He held this position until 2006, when he decided to contest to represent the Bogoro/Dass/Tafawa-Balewa constituency at the Federal House of Representatives. His bid proved successful and he has been a member of the House since 2007.

“Dogara is a strong advocate for the independence of the legislature, and has been a member of the House of Representatives since 2007. His legislative interests include tenancy, regulating monopolies, company law, and intellectual property.”

In the midst of all the agitations for preferred candidates to assume the presidency of Nigeria, not a few Nigerians are calling on celebrated journalist and accomplished philanthropist, Chief Dele Momodu, to dust his political gown, and join the race. Their reason is based on the philanthropic gestures which the widely travelled father of four and man of the people has exhibited in recent times, using his Ovation Palliatives medium.

Much as Momodu has told as many that cared to listen that he is not interested in the exalted position since his first attempt in 2011, the generality of the public has maintained that Momodu deserves a shot at the presidency. Bob Dee, as he is fondly called, was born on May 16, 1960.

Whether he will yield or not, is probably a story for another day, but the big question now is, who will be the next President of Nigeria come 2023?

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Boss Picks

Nigeria vs Sunrise: The Battle on the Mambilla – Obasanjo, Buhari Testify –

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By Eric Elezuo

For Eti-Osa Lagos born Chief Leno Adesanya, Founder of Sunrise Power Limited, business must be not only be transparent, but seen to be transparent, and that has necessitated his long drawn battle with the Federal Government of Nigeria over the real awarded contractor of the Mambilla Power Project in Taraba State. The duo of Leno Adesanya and Sunrise Power are seeking $2.3 billion in compensation for an alleged breach of contract by the Federal Government.

The stories behind the Project has remained a riveting story of power play at the highest level, involving presidents, ministers and former ministers of high profile portfolios, businessman of profound abilities and other top past and present government functionaries. A previous The Boss investigation into the matter revealed that corruption, in addition to unnecessary powerplay contributed, and is still contributing to the comatose state of the project, and the unwarranted legal processes that have caused a great deal in revenue and man labour time loss to the country. 

Many observers had wondered why such high octane misgivings and intrigues were witnessed during the Buhari Presidency.

On October 10, 2017, Sunrise initiated arbitration against Nigeria at the ICC International Court of Arbitration in Paris, seeking $2.354 billion in damages for “breach of contract” related to a 2003 agreement to construct the 3,050MW Mambilla power plant in Taraba State on a “build, operate, and transfer” basis, valued at $6 billion.

In a second arbitration, the company is demanding $400 million as compensation for the Nigerian government’s failure to honor the terms of a 2020 settlement agreement intended to resolve the dispute.

The tussle, which has dragged for an upward of 12 years since 2003, when it was first awarded by the Obasanjo administration, and counting, took another another dimension the previous week, when two former presidents of the country; Chief Olusegun Obasanjo and General Muhammadu Buhari (retd) volunteered to testify against the businessman in far away Paris. Both, as well as former Minister of Power, Mr. Babatunde Fashola, among others attempted to prove that the contract awarded Sunrise and Leno Adesanya, was invalid.

Former Presidents Obasanjo and Buhari’s appearance at the Paris hearing could very well have been described as cameo, but for the seriousness of the situation. It was not a movie; a country’s integrity, and man’s quest to clear were at stake. Obasanjo and Buhari knew this. So their appearance to testify before the International Chamber of Commerce Court of Arbitration in Paris, France, stating that the Federal Government never awarded a contract for the $6 billion Mambila Power Project to Sunrise Power, was well thought out.

Obasanjo and Buhari argued that the 2003 agreement, which Sunrise Power based its claims on, is invalid. They claimed that the agreement was signed by former Minister of Power, Dr. Olu Agunloye, 24 hours after the Federal Executive Council rejected the contract award to Sunrise Power. Agunloye is currently facing trial for forgery, disobedience, and corruption related to the power project.

The testimonies of Obasanjo and Buhari were corroborated by other high-ranking officials, including Justice Minister Lateef Fagbemi, former Minister of Power Babatunde Raji Fashola, and former Minister of Water Resources Engr. Suleiman Adamu. They were of the unanimous agreement that their testimonies are in the interest of the nation.

“It is very important for nation’s case that the Minister of Justice and Attorney-General of the Federation, Lateef Fagbemi, was successful in bringing two former presidents – Chief Olusegun Obasanjo and Muhammadu Buhari to testify at the hearing.

“By this action, the government of Nigeria sent a signal of its strong commitment to defending the nation’s interest.

“Both leaders-Obasanjo and Buhari-are known for speaking forthrightly and unequivocally, and this they were said to have exhibited in Paris.

“To the delight of the international team of lawyers representing Nigeria, the two past presidents did extremely well, exposing the Sunrise/Leno’s claim for what it is: an attempt at using fraud, deceit and lies to scoop settlement from Nigeria in the first instance, for the alleged violation of a 2003 contract for which there is no valid approval, a source told The Nation Newspaper.

The Nation’s source, which described the testifiers as team Nigeria, and united, abducted frowned at Leno for not producing any witnesses, added that “It was by and large a great showing, consolidated by the equally outstanding testimonies of former ministers Engineer Sulaiman Adamu, formerly of Water Resources, and Babatunde Raji Fashola, Power.

“The Arbitration Court in France had a week-long hearing 18th-23rd January in Paris on the ongoing dispute between Sunrise Company/Leno Adesanya and the government of Nigeria on the existence or the absence of a contract for the construction of the Mambilla Power Project.

“Although it is up to the chairman and other members of the tribunal to decide on who is right and who is wrong, it can be said at this point that Nigeria had a very good outing on the basis of certain facts that have emerged from Paris.”

It accused Adesanya and his Sunrise of relying on a purported 2003 agreement.

“The 2003 contract was established not to have been validly in existence. This is worsened by the fact that the complainants failed to produce their major witnesses.

“The much-touted appearance of a one-time Minister of Power, Dr. Olu Agunloye, did not also materialise. He was the one who allegedly signed a letter communicating the approval of the contract 24 hours after its rejection by the Federal Executive Council (FEC) which meeting was presided over by Obasanjo.

“A third ‘key witness” a Senegalese lady, did not also appear at the hearing.

“So who spoke for Sunrise/Leno Adesanya?

“He did everything for and by himself.

“Another major setback suffered by the complainants was their over-reliance on an earlier witness statement deposed to by Abubakar Malami, Minister of Justice and Attorney General under President Buhari.

“Malami, on whose testimony the complainants made heavy weather, ended up lining up behind his former boss, President Buhari, to support and prepare him well for his (Buhari’s) testimony.

“This strategy had the dual benefits of ensuring Buhari’s successful testimony and at the same time pulling the rug from under Leno Adesanya’s feet,” the paper concluded.

It is still not clear however, why Sunrise was disqualified, except for the testimonies of the Nigerian government, and now the former presidents that the contract was invalid. Another question that continue to re-echo is which company has taken its place as Local Content Partner, and since the Chinese had committed to paying $millions of dollars to Sunrise, who will be receiving this payment? Again, was there was a tender, and under which circumstances did Bureau of Public Procurement (BPP) issue these Chinese firms Due Process Certificates?

Much as Sunrise is no longer interested in the above question, but the recovery of it $2.3 billion, the Economic and Financial Crimes Commission (EFCC) has not stopped hounding Agunloye of awarding the contract without budgetary provision, approval, or cash backing. However, Agunloye claims that the government is using him as a scapegoat to undermine Sunrise Power’s claims.

WHY I TESTIFIED – OBASANJO 

In an exclusive interview granted Premium Times, former President explained his reasons for standing in the dock to testify.

He said, “I volunteered myself to testify in this case. Nobody sent me to do so. President Tinubu did not ask me to do so as speculated. I didn’t speak to anybody on my intention to testify,” Mr Obasanjo said.

“I decided to testify because of the statement made on the matter by Olu Agunloye. I considered his claims atrocious and thought it necessary to set the records straight.”

Obasanjo was Nigeria’s president between 1999 and 2007, the period when the contract with Sunrise was supposedly entered into. He is joined in blaming his former Minister, Agunloye, for the effrontery to award and signed the contract, even there was no executive permission. He described claims claims made by Agunloye as regards the $6 billion project as ‘atrocious’.

Obasanjo emphasized that his decision to testify was not influenced by President Bola Tinubu or any government official. Instead, he wanted to set the record straight about the contract, which was awarded during his administration in 2003.

 

“I volunteered myself to testify in this case. Nobody sent me to do so. President Tinubu did not ask me to do so as speculated. I didn’t speak to anybody on my intention to testify.

“I decided to testify because of the statement made on the matter by Olu Agunloye. I considered his claims atrocious and thought it necessary to set the records straight,” Obasanjo concluded.

In the same vein, the administration of President Bola Tinubu has defended Buhari’s appearance at the arbitration, saying the former president was not was pressured to testify, and that he did so willingly and out of patriotism.

HOW IT ALL STARTED – THE BOSS 2018 INVESTIGATION, DISCOVERY 

Documents in the possession of The Boss indicate that a Nigerian company, Sunrise Power Transmission Co. Limited had been in the forefront of promoting this Project from the outset.  

Prior to the official tender process, Sunrise started promoting the Mambilla Project as early as year 2000. It reportedly engaged the offices of former President Olusegun Obasanjo and former Vice President Atiku Abubakar as well as the Nigerian Embassy in China.

Its successful promotion of the project led to the first state visit of then President Obasanjo to China in 2001 and Vice President Atiku in 2002.
 
It was thereafter, that a bidding process was opened for the project and the Ad-Hoc Inter-Ministerial Committee recommended Sunrise and its Chinese Partners. On April 7, 2003, the Committee wrote the President for approval to officially issue an award letter.
Therefore, on May 22, 2003, the then Federal Ministry of Power and Steel (Now Part of the new Ministry of Power, Works and Housing) issued a letter of Award to Sunrise Power and Transmission Company Limited in consortium with North China Power Group as Technical Partners. The contract was for the construction of a 3, 960MW Hydroelectric Power Project in Mambilla on a Build, Operate and Transfer (BOT) arrangement for a provisional six billion dollars. Sunrise accepted the offer.
 
In August 20, 2003, Sinohydro, which has its principal place of business at no.1 Ertao Biaguang Road, Xuanwu District, Beijing, PR China, North China Power Engineering Co. Ltd with its business address as 24a Huangsi District, Beijing and Sunrise located at Oluwa (Fowler) Road, Ikoyi, Lagos Nigeria, signed a contract to work together on what was then the 3, 960MW project.  Sunrise engaged Sinohydro to construct the project on an Engineering, Procurement and Construction (EPC) basis.
After it has begun work, it got a shocking letter on September 3, 2003 from the Ministry of Energy (FMOE) claiming that the Federal Executive Council did not approve the memo recommending Sunrise for the project and directing Sunrise to tender for the project when it is advertised.
 

Sunrise sought a resolution without success. Sunrise and North China engaged Chief Afe Babalola, (SAN) to demand compensation.

A letter written by Chief Babalola dated February 4, 2005, read in part: “Your ministry cannot seek to repudiate the contract as it has attempted to do in the Ministry’s letter ….not after our clients have incurred expenses on the preparation incidental to the execution of the project.

“Consequent upon the preliminary steps towards execution of the contract, our clients have incurred well over Three Million Pounds while there are commitments to several consultants local and international in excess of Thirty Million British Pounds.”

While the dispute was on, Sunrise and it partners were still at work. An indication of this was a letter of intent written on April 15, 2005 by Dai Chunning, General Manager, Banking Department oF China Export-Import Bank to Sinohydro Corporation indicating its interest to provide $5.5 Billion for the Mambilla Project; the bank further stated that “We perused the information provided on the issue and are pleased to show interest and support in the proposed project by way of this Letter of Interest”.  

Nothing was heard on the project until May 29, 2007 when, allegedly influenced by a Senior Government official, the Government awarded a part of the SUNRISE contract (Lot I, Civil/Hydraulic Steel Structures) of the (2,600MW Mambilla Hydroelectric) First Phase of the project to Messrs CGGC/CGC Ltd, in the sum of US$1.46billion.

The source of funding envisaged at the time of award was a combination of an Exim Bank of China loan of US$1 billion and funds from the Excess Crude Savings Account.

Of course, Sunrise did not take this lying down. It took the matter to the Federal High Court, Abuja suit No. FHC/ABJ/CS/384/2007. The defendants in the case were The Minister of Energy, The Attorney-General of the Federation, China Gezhouba Group Corporation (CGGC) and China Geo-Engineering Corporation (CGC).

Late President Umaru Musa Yar ‘Adua directed the Federal Ministry of Justice to investigate the Breach of Contract and USD 960 Million (Nine Hundred and Sixty Million United States Dollars) damage claim filed by Sunrise, and a Report (a copy of which is in our possession) from the Federal Ministry of Justice Indicted the Federal Ministry of Energy and CGGC/CGC of Gross Violation of Sunrise’s BOT Contract.
 
Furthermore, Mr. Michael Kaase Aondoakaa noted that Sunrise was not duly disengaged as Contractor on the project before government went ahead in May 2007 to engage CGGC/CGC for the same project.
He therefore, opined that Sunrise was in strong legal position to pursue a successful claim against the Federal Government; stating that “The best interest of the country can only be served by an amicable settlement of the parties so as to avoid the embarrassment that litigation would bring (to) the image of the country.” He sought Presidential approval to explore efforts of settlement of the matter.

Following a Presidential Visit to China in 2008, word reached late President Yar’Adua about an alleged $15m bribery that led to the award of the $1.46 billion contract to CGGC/CGC on May 29, 2007.

Late President YarAdua, we gathered then invited Sunrise, then Minister of State, Power (Late Hajiya Fatima Balaraba Usman), Minister of State and the accused Presidential official for a meeting.

After the meeting, President Yar Adua instructed then Attorney-General, Mr. Michael Aondoaka, SAN, to cancel the CGGC/CGC contract and restore the BOT Contracts to Sunrise immediately which was done at the Vice President’s Conference room in the presence of all Directors and Permanent Secretaries of both the Ministry of Power and the Ministry of Justice.
 
After this unfortunate episode, Sunrise agreed to resolve its legal dispute against the Federal Government and CGGC/CGC Consortium amicably, by proposing that Sinohydro Corporation in partnership with Sunrise, on the one hand, should form a Consortium at a cost to be determined by the final project design to be undertaken.

In October 2012, the Federal Government decided it wanted to own the Mambilla HydroPower Project and wanted an urgent settlement. This led to the signing of the Settlement and General Project Execution Agreement (GPEA) between the Federal Ministry of Finance, then Honourable Minister of State, Power, Architect Darius Ishaku now Governor of Taraba State signed, and then Solicitor-General of Federation, Mr. Abduallahi Yola signed for the Federal Government. 

Sunrise and Sinohydro also signed but CGGC and CGC refused to sign because the Ministry of Power/Federal Government had allotted only 30% of Engineering Procurement and Construction (EPC) works to them.

When the Federal Government filed the Settlement Agreement in Court at the Federal High Court, Abuja, the Court rejected it because CGGC/CGC did not sign the Settlement and GPEA Agreements.

Thereafter a Stakeholders’ Meeting was convened at the Ministry of Power on November 23, 2012 and over 40 Stakeholders reportedly attended. 

It was at this meeting that Mrs. Zainab Kuchi, new Minister of Power and the Solicitor-General of the Federation signed a new Out of Court Settlement Agreement with Sunrise (Its Chairman, Mr. Leno Adesanya signed) and also a new GPEA with Sunrise and Sinohydro (Its Technical and Financial Partners) was affirmed with a mandate to execute 100% of the EPC Contract.

In 2013, then President Goodluck Ebele Jonathan during a State Visit to China was called upon by the Chinese President “To please consider both Sinohydro and CGHC as EPC Contractors.” 

The new Minister, Professor Chinedu Nebo then appealed to Sunrise to vote CGGC (Not CGC) as Co-contractor, a position that was accepted by Sunrise so that the project will be up and running.

As a result  of that parley, On January 14,  2015,  the Federal Ministry of Power, issued an Award Letter (No FMP/6145/S.11.1.185 of January 14, 2015) to Messrs CGCC and Sinohydro, specifically informing both Chinese companies that “Please note that based on the General Project Execution Agreement and Terms of Settlement agreed on the 23rd November, 2012 between the Federal Government on one hand and Sunrise/Synohydro on the other hand, Sunrise Power and Transmission Co. Ltd will serve as  local content Partner on the Mambilla Project
 
THE STORY CONTINUES…
When President Muhammadu Buhari assumed Power, like all past Presidents, the issue of power was key on his agenda. In fact during one of his very first interviews on Channels Television in 2015, he stated that “The 3050MW Mambilla Hydropower Projectis stalled because FGN refused to pay 15% counterpart funds to Chinese Contractors; Just 15 per cent”.

It was not therefore, a surprise that on June 29, 2015, President Buhari reportedly hosted Alhaji Lawal Idris for over an hour at the Presidential Villa. He was in the company of Mr. Leno Adesanya, the Chairman/CEO of Sunrise.

We gathered that Adesanya presented a comprehensive briefing on the history of his company’s involvement with the Mambilla Power Project and how Sunrise, his company already has subsisting contractual agreements with the Federal Government as regards its execution.

There was an indication that since there was another Sheriff in town, the project will start revving again. When it didn’t, Sunrise wrote Mr. Babatunde Raji Fashola, (SAN)  on February 26, 2016, notifying him that it had held joint meetings with the two companies (SINOHYDRO and CGGC) in Beijing, and they have agreed to split the EPC Contract on a 50/50 basis; The Minister notified his Permanent Secretary, Mr. Louis Edozien in the letter.

A month later, on March 8, 2016, Engr. E.O. Ajayi, Director (Energy Resources) on behalf of the Minister, wrote to Mambilla project Consultants, Coyne et Bellier/Decrown, urging the company to send a reminder to Messrs Sinohydro and Messrs CGGC to submit the cooperation agreement detailing the division responsibility/section of works of the parties, noting that the consortium is jointly and severally responsible for the full implementation of the project. The Consortium was directed to submit the said agreement not later than March 31, 2016.

That was not all, many people involved in the project were now more enthusiastic when it was announced that President Buhari was preparing his first official visit to China.

He eventually embarked on the 4-day visit on April 10, 2016 but for some inexplicable reasons, this all important Mambilla project was not on the agenda.

We gathered from the delegation, that with pressure from Mr. Leno Adesanya, Governor Nasir El Rufai of Kaduna State, Governor Mohammed Badaru Abubakar of Jigawa State and Chief Audu Ogbe, decided to bring the situation  to the attention of a very angry President Buhari, who was upset that the Taraba Governor was not invited on the trip by the Minister of Power Works and Housing. In any case, that was how Mambilla hit the front burner and became one of the key issues of the Presidential visit.

On his return later that month, President Buhari sent his Chief of Staff back to Beijing to conclude the negotiations, which resulted in the agreed price of $5.79 billion 

In addition, on April 25, 2016, Mr. President wrote through his Chief of Staff (Letter No. SH/COS/05/A/1847) to the Honourable  Attorney-General, Mr. Abubakar Malami, SAN, copying the Minister of Power Works and Housing (HMOPWH), to propose a strategy for resolving all the legal issues and disputes relating to the Mambilla Power Project including the matter of the “warring parties”.

As per the directive given by Mr. President, The Boss learnt that the Attorney-General held series of meetings with the parties involved, and on May 20, 2016 in a letter addressed to Mr. Babatunde Fashola SAN, the Attorney-General made the following recommendations:

1)  Government should engage Sinohydro Corpration and CGGC jointly for the purpose of executing the Mambilla Project in line with the Spirit of the Letter of Award dated January 14, 2015, on a 50-50 basis or based on other technical parameters to be determined by the Project Consultants

2)  Engage the Chinese Embassy in Nigeria/Chinese Government to ensure the success of the plan to award the job to two companies

3)  Sunrise Power & Transmission Company Limited should be engaged as Local Content Partner on the Mambilla Project as a means of accommodating its prior contractual interests on the project

4)  A joint meeting of the Federal Ministry of Justice and the Ministry of Power, Works and Housing for the purpose of streamlining the above positions and advising Mr. President through the Chief of Staff accordingly should be convened.

Curiously, six days after this legal advice, the Chief of Staff allegedly invited a Kaduna-based Chinese Company (CGC Nigeria Limited) to a meeting at the Presidency.

Present at the meeting were Sinohydro, CGC, CGGC, Mr. Fashola and some top Ministry officials. It was at this meeting that Mallam Kyari urged these three companies to cooperate and form a Joint Venture.

Despite being told by the Chairman of Sinohydro, and Fashola about the existing agreements with Sunrise, the CoS insisted that they should go ahead with the new arrangement, and instructed the Chinese to deal directly with the Presidency and the Ministry; not their local partners.

Not still satisfied with that move, on January 23, 2017, the Attorney General, wrote the Minister of Power, Works and Housing. The letter, HAGF/SH/2017/Vol.1/14 was titled: Request To Convene A Meeting On Procurement Process For The 3020MW Mambilla HydroElectric Power Project in Light of Outstanding Legal Issues.

Fashola replied three days later in a letter: FMP/6145/S.11/Vol.11/517, noting that his ministry welcomes the meeting requested that aims to resolve all issues raised.

The Minister also wrote a letter to Mr. Leno Adesanya on May 3, 2017 in response to a letter that the former had written him on March 31, 2017. He asked Mr. Adesanya to present his observations at a Stakeholders Meeting to be scheduled by the Chief of Staff to the President as proposed by the Attorney-General. 

While everyone involved was looking forward to that meeting, Mallam Abba Kyari fired a letter he personally signed to The Honourable Minister of Power, Works and Housing on May 22, 2017 with the title: Re: Letter Referenced FMP/6145/S.II/569 In Respect of Mambilla HydroProject

The two paragraph letter stated:

 “Further to our discussion, kindly note that Messrs Sunrise Power and Transmission Company Limited is not party to the existing arrangements on this project.

“The Contractor engaged is Messrs CGGC-Sinohydro-CGCOC Joint Venture”.

Interestingly this letter was written when Mr. President was having his medical vacation abroad.

Messrs Sunrise must have been enraged by this unilateral decision of the Chief of Staff and consequently wrote the Vice President, Professor Yemi Osinbajo, who was Acting President at the time to intervene.

Mr. Leno Adesanya, who signed the letter as Chairman/CEO, updated the Acting President on the project, alerting him that it was the Chinese that informed them of the sad news.

He went on to make an appeal: “Your Excellency, permit me to say that over the years, we have pleaded with our financial partners to be patient with the FGN as various developments that delayed the project played out. 

“We are however constrained to observe that the latest developments, if not rectified in line with the legal recommendations of the HAGF, prior to seeking FEC approval, shall leave us with no choice but seek legal redress where appropriate including against the Chinese government. We are however, confident that with your expected intervention, this reluctant prospect can be avoided.

“We trust your sense of justice and your commitment to the early realization of this project…”

The Attorney-General certainly was also unhappy with this development, little wonder that on July 24, 2017 he also wrote the Acting President.

Titled “Re: Correspondence In Respect Of The Procurement Process For The 3050MW Mambilla Hydro-Electric Power Project In Light Of Outstanding Issues”, he noted that following Mr. President’s directive of April 2016, he had developed a legal opinion, and had forwarded same to the Minister of Power, Works and Housing. 

He re-affirmed his recommendation insisting that he informed the Chief of Staff to the President and Minister about this and he wanted the Acting President to give appropriate directive.

Well, it seemed the letters from these two men did not carry much weight because just like he had promised in the meeting in 2016, and his letter of 2017, Mallam Abba Kyari had his way and the Nigerian Company was kicked out. There was no word from the Vice President or his office on the matter.
 
We were told that many moves were made for a meeting, even President Buhari’s main man, Alhaji Mamman Daura, reportedly tried to arrange one of such meetings on September 30, 2017, but the Chief of Staff will have none of it.

He advised Mr. Leno Adesanya, whose company, Sunrise, had been short-changed to “go to court”.

Of course following the November announcement by Fashola, there was a chain reaction. Sunrise activated the Arbitration Clause of its November 23, 2012 GPEA Agreement, and approached the International Chambers of Commerce, International Court of Arbitration in Paris, France to take charge; and it is claiming $2.3 billion in damages and profit loss.

The ICC Case No. 23211/TO is between Sunrise, Federal Government of Nigeria and Sinohydro Corporation Limited.

Already the legal fireworks have begun: While Mr. Jeremie Chouraqui is lead Counsel for Sunrise, Mr. Richard Smellie is representing Sinohydro while Supo Shashore, SAN is representing the Federal Government of Nigeria.
 
Despite this move at arbitration, Sunrise, through its Lawyer, Mr. Femi Falana, SAN has written to the Attorney-General (copied to Minister of Power, Works and Housing and Presidency) still seeking ways of an amicable settlement; because Sunrise wants to execute the EPC contract based on the full compliance of the July 24, 2017 recommendations of the learned Attorney-General, Mr. Abubakar Malami, SAN, to the Federal Government.
The February 2018 letter was a last ditch request and appeal to the nation’s Chief Law Officer to intervene and midwife the resolution in line with his earlier recommendations which will save Nigeria over $2 billion, as well as stem the negative publicity that the trial will generate, especially now that Nigeria is trying to project itself as an investment-friendly destination.
 

THE MAN, CHIEF LENO ADESANYA 

According a document made available to The Boss by the Sunrise office, Chief Adesanya’s personality is captured in the following lines:

Chief Leno Adesanya is a prominent Nigerian businessman and entrepreneur, renowned for the role he is playing in Nigeria’s energy sector. He hails from Eti-Osa Local Government Area in Lagos State and has spent several decades advancing power generation and transmission initiatives in the country. His expertise and ventures have placed him at the center of several high-profile projects aimed at addressing Nigeria’s energy deficits.

Business Ventures

Chief Adesanya is the CEO of Lutin Investments, a Geneva-based company, and serves as the promoter of Sunrise Power and Transmission Company Limited (SPTCL). Through these entities, he has spearheaded significant energy projects, leveraging strategic partnerships and investments to drive development in Nigeria’s power sector. His companies have collaborated with international partners, including Chinese firms, to propose large-scale solutions for the country’s energy challenges.

Involvement in the Mambilla Power Project

One of Chief Adesanya’s most notable endeavors is his involvement in the Mambilla Hydroelectric Power Project, located in Taraba State, Nigeria. This ambitious project, with an expected capacity of 3,050 megawatts, is among the largest hydroelectric initiatives in Africa. Designed to alleviate Nigeria’s chronic power shortages, the project’s progress has been hindered by delays, funding challenges, and legal disputes.

In 2003, Sunrise Power, in collaboration with Chinese partners, was awarded a $6 billion Build, Operate, and Transfer (BOT) contract by the Nigerian government.

However, the contract was annulled in 2007, prompting a series of legal disputes between Sunrise Power and the government. Chief Adesanya’s company subsequently filed a $2.3 billion claim for breach of contract, with the case currently in arbitration in Paris (Nairametrics, 2025).

Legal Disputes and Arbitration

The Mambilla Power Project has been entangled in prolonged legal battles, with multiple arbitration cases involving Chief Adesanya and his company. Testimonies from former Nigerian presidents and ministers have featured prominently in these cases, reflecting the project’s high stakes. Past administrations, including that of President Muhammadu Buhari, sought out-of-court settlements to resolve disputes with Sunrise Power. However, agreements were often reneged upon, prolonging the conflict (Businessday NG, 2025).

Controversies

Chief Adesanya’s involvement in the Mambilla Power Project has been subject to scrutiny and controversy. Allegations of bribery and corruption have emerged, with claims that he offered incentives to public officials to secure favorable outcomes for his company. In 2024, the Economic and Financial Crimes Commission (EFCC) declared Leno Adesanya wanted in 2024 for an alleged case of conspiracy and corrupt offer to public officers related to the Mambilla project (Nairametrics, 2024). Despite these challenges, he remains a key figure in Nigeria’s energy landscape.

Legacy and Impact

Through his leadership of Lutin Investments and Sunrise Power, Chief Leno Adesanya has played a role in shaping discussions around Nigeria’s energy future. While his involvement in the Mambilla Power Project has been marked by legal and political complexities, his efforts underscore the critical importance of private sector participation in addressing Nigeria’s infrastructural challenges.

THE MAMBILLA POWER PROJECT: AN OVERVIEW 

The Mambilla Hydroelectric Power Project is a Hydroelectric Power station that is being developed on the Dongo River. When completed, it will be Nigeria’s largest power plant. 
The Project goals include Increase access to electricity, Improve living standards for Nigerians and neighboring countries, Increase Nigeria’s electricity generation by 30, and Increase renewable energy use to 30. 

Project details
  • The project is being developed by Nigeria’s Federal Ministry of Power 
  • The project is made up of four dams and two underground stations 
  • The project is located in the eastern Nigerian state of Taraba 
  • The project is being funded by the Chinese Export-Import Bank

Project challenges

  • The project has been involved in legal disputes 
  • The project has faced challenges due to unreliable transmission and distribution networks 

With the testimonies of the likes of Obasanjo and Buhari, the Nigerian government may be on a roller coaster of victory, but Chief Adesanya appears to still have some aces up his sleeves, and may pull a surprise comeback, armed with all the documents of the transactions at his disposal.

Time, as always, will tell.

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Boss Picks

The Femi Otedola Crackdown at FirstBank – His Many Battles –

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By Eric Elezuo

From the moment Geregu Power Plc boss, Mr. Femi Otedola, took over the leadership of Nigeria’s premier bank, FirstBank of Nigeria Plc as its Chairman, it was clear that there was bound to be a systemic change. This, according to source, was premised on his thorough methodologies in approaching administration, and the need for corporate sanitization, which has seen him climbed to the peak of entrepreneurship.

This, no doubt created a sobriquet to qualify his tenure as the highest shareholder in the apex commercial bank, as a no-nonsense person, and made the statement ‘the fear of Femi Otedola is the beginning of wisdom at First Bank, Nigeria’s oldest bank’ a reality.

As expected, the billionaire businessman wasted on time to begin a crackdown in the bank. In fact, a section of the populace had labeled it Otedola’s cleasing spree. As at date, many high profiled officers of the bank have been relieved of their positions while many other highbrow customers of the bank at the moment have one question or another to answer with the security agencies just as accusations and counter-accusations continue to fly in the media space, prompting brouhaha and discontent.

It is worthy of note that in its 130 years of chequered history, FirstBank has paraded a galaxy of financial wizards and iconic figures, including a former Governor of the Central Bank of Nigeria (CBN), who is now the Emir of Kano, Sanusi Lamido Sanusi.

Observers, stakeholders and the general public are of the unanimous opinion that though the bank has gone through its fair share of boardroom turbulence, none has been as chaotic, and potentially catastrophic as the present one. A cross section of respondents told The Boss that the bank is probably on a precarious voyage if the principal stakeholders don’t come together to urgently arrest the speedy descent to economic tragedy. It is believed that a disarray FirstBank portends a disaster to the nation’s economy considering its pride of place as the oldest, and arguably the most experience bank in the country, and the sub-region.

So like an experienced headmaster, Mr Otedola, ever since he became the Chairman of the 130 years institution, has been wielding the big sticks on those he perceives as parasites feeding fat on the sweat and investments of shareholders. He is sparing nobody if actions that have taken place so far are anything to go by. And so less than two months after, his big stick has whipped the likes of the much respected Global Head of Marketing and Corporate Communications, Mrs. Folake Ani-Mumuney; the immediate past Managing Director, Mr. Adesola Adeduntan, erstwhile Managing Director, Dr. Olabisi Onasanya, Chairman, ThisDay Newspaper, Prince Nduka Obaigbena and a host of others. It is alleged that all these personalities have questions to answer as regards the lavishing of shareholders’ funds.

On December 2, 2024, the media space was awashed with news of the resignation of Folake Ani-Mumuney. It was later revealed by insiders that she was prevailed upon by Otedola to resign after 15 years of sitting atop the bank’s marketing and corporate communications. Her supposed ‘sack’ took the banking world by storm. She was known to be diligent and highly influential.

Reports that made the rounds alleged that Otedola was pissed when he learned that a whopping sum was spent on a send-off party for Adesola Adeduntan, the former MD of the bank who was reportedly forced to resign over alleged negligence in a N60 billion electronic fraud. While no statements have proved that Ani-Mumuney’s resignation is directly linked to the party, insider source told The Boss that Adeduntan and the communications expert shared a common administrative bond during his nine years tenure as MD.

The same report stated that Otedola, who was conspicuously absent at the party, declared the exercise as “insensitive and wasteful” considering that the clear direction and mandate of the bank lies behind recapitalising and repositioning the institution from excesses of past management.

The stick that fell on Ani-Mumuney, stakeholders foretold, was the beginning of more “drastic” decisions and actions Otedola had to take in succeeding days to return FirstBank on the track of impeccable banking “devoid of extravagance and waste of shareholders’ resources”.

While the top echelon of the bank was still recovering from the hammer that befell Ani-Mumuney, many of them were swept away as more restructuring policies were enforced. Reports had indicated that the bank’s top executives were asked to leave as part of its corporate restructuring and repositioning plan for 2025 following the confirmation of Olusegun Alebiosu as the MD/CEO in June last year. A total of about 100 senior staff members were said to have been affected in the organisational shakeup.

SHAREHOLDERS REACT, RALLY TO REMOVE OTEDOLA AS CHAIRMAN 

The high flying FirstBank flag

With the avalanche of sack that swept through the institution, many, who believed that Otedola is fighting on too many fronts, and had to be termed, plotted to have him removed as the Chairman of the bank, with non-executive director, Mr. Julius B. Omodayo-Owotuga.

The group of shareholders while calling for an immediate Extraordinary General Meeting (EGM) in the next 21 days in line with section 215 (1) of CAMA, alleged that FBN has not known peace since the former Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, influenced Otedola’s acquisition of a significant amount of shares that led to his emergence as Chairman of FBN Holdings in January 2024.

They accused Otedola and his kitchen cabinet including Omodayo-Owotuga of seizing full control of the bank and doing as they please. They group expressed fear of disregard for corporate governance principles taking into account his private placement of N360 billion shares.

They further alleged that Otedola’s preference for private placement instead of right issue or public offer is seen as a ploy to gain control and run the financial institution as his private estate. The battle continues to rage as the quest to discover who holds the single largest share of the institution between Otedola and Oba Otudeko’s Barbican Capital.

But according to the audited accounts First Bank Holdings for 2023, Otedola was put as the single largest shareholder with a 9.41 percent stake in the financial institution. The billionaire businessman recently increased his shareholding by massive acquisition of more shares. At the moment, his exact stake is unclear.

However, data from the Central Securities Clearing System (CSCS), the widely accepted source for confirming share ownership, has Barbican Capital, which is affiliated with the Oba Otudeko-owned Honeywell Group, as the largest single shareholder with a 15.01 percent stake.

Records kept by the bank’s registrars, Meristem Registrars & Probate Services Ltd, also showed that Barbican Capital is the single largest shareholder with 5,386,397,202 shares (5.38 billion) as of May 23, 2024.

In another development, Barbican Capital had sued FBN Holdings for wrongly stating its shareholding in its audited financial statement. Another battle front.

Otedola’s next battle was at the doorstep of Chief Executive Officer, ThisDay and Arise News, Prince Nduka Obaigbena, who was accused of owing the bank a whopping $225.8 million through his General Hydrocarbons Limited. An allegation the Frontline journalist denied.

The meat of the matter became exposed  and escalated into a legal tussle following GHL’s request for a fresh $53 million facility to finance the development of Oil Mining Lease (OML) 120. Officials at First Bank have however, refused to honor the new loan request, citing concerns over GHL’s utilization of previous loans disbursed for the same project.

Nairametrics reported exclusively that the information was gleaned from a leaked letter purportedly signed by Obaigbena himself. The development has resulted into bitter accusations, lawsuits, and freezing orders, thereby deepening tensions not just between both companies, but also between the two personalities.

This refusal, coupled with growing mistrust, culminated in a Mareva injunction court ruling that temporarily froze GHL’s assets across multiple financial institutions in favour of FBN’s outstanding debt claims.

Irked by the development, Obaigbena published a notification, ostensibly to state his side of the story, with a solid premise that neither he nor GHL is owing FirstBank.

ALLEGATIONS OF DIVERSIONS OF MONIES BEFUDDLING, GHL RESPONDS 

General Hydrocarbons Limited categorically denied owing FirstBank Nigeria $225.8 million, stating that the company entered into an agreement with FBN over oil production and development of OML 120, and the project is active and still pending.

“We entered a legally binding, enforceable subrogation agreement with First Bank on May 29, 2021, with FBN agreeing to fund GHL’s exploration, production, and development of OML 120 in exchange for sharing profit from oil proceeds from the OML in a 50:50 ratio after statutory payments and taxes over 8 years.

“The FBN 50 percent share will then be used to pay down its non-performing loans of about $718 million, which was discounted to $60 million to resolve its solvency issues therefrom.

“In its quest to stay afloat, the FBN loan was sold at $600 million as an Eligible Banking Asset (EBA), with comfort from GHL; the FBN then collected the cash from Assets Management Company of Nigeria, (AMCON), with which they rebuilt the bank without meeting GHL’s needs.

“The FBN non-performing loan arose from FBN’s unsecured and reckless lending to Atlantic Energy under separate Alliance arrangements, events in which GHL had no connection with agreements made it clear that the non-performing loan had nothing to do with GHL beyond the fact that 50 percent of profits from OML 120 due to FBN under the Subrogation Agreement will be used by FBN 66ae nexus.

“It is important to note that FBN’s credit and risk team verified and approved all contracts and invoices due to the contractors engaged for the development and operations of the oil mining lease and made payments directly to these contractors and service providers.

“The allegations of a diversion of the monies advanced to GHL are therefore befuddling and without merit as to settle the hole created in its books by the Non-Performing Loan (NPL). For clarity, Atlantic Energy operated OMLs 26, 30, 34, and 42—very different from GHL’s OML 120 payment, which was made by FBN directly to service providers after vetting and approval by its credit and risk teams,” the statement reads.
In the last days, First Bank Nigeria Holdings has been enmeshed in controversies as its shareholders are divided over Otedola’s chairmanship.

COURT ACTIONS NECESSARY TO RECOVER DEPOSITORS’ FUNDS, OTEDOLA FIRES BACK

Femi Otedola

My attention has been drawn to articles published by ThisDay (on Thursday, January 9 and Friday, January 10, 2015), clearly instigated by Mr. Nduka Obaigbena, filled with baseless allegations aimed at smearing my reputation. It is unfortunate that Mr Obaigbena has resorted to such tactics simply because he has been asked to repay his $230 million loan.

This loan, facilitated with the help of the former Central Bank of Nigeria Governor, Mr Godwin Emefiele, was purportedly for the operation of an oil block which he obtained without competitive bidding.

However, the funds were diverted for personal use-funding Mr Emefiele’ presidential aspirations, acquisition of luxury properties abroad, the operation of a private jet, and an extravagant $68 million spent on jet rentals in just four years. Mr Obaigbena’s profligacy is well known, as is his penchant for using his media platforms to blackmail and silence those who hold him accountable.

As Chairman of First Bank Holdings, my primary responsibility is to protect the interests of the bank’s shareholders and depositors. The actions initiated in the courts are necessary to recover funds that belong to depositors and ensure corporate governance.

Mr Obaighena’s penchant of blackmailing people to escape accountability must end, especially when depositors’ money is at stake. My commitment to upholding the integrity of the financial system and protecting depositors outweigh any cheap attempts at blackmail.

Let me remind the public that my integrity is not in question. As Chancellor of Augustine University and a benefactor of Save the Children Fund, I continue to dedicate my wealth to noble causes. I will not allow unscrupulous elements to derail the efforts of First Bank to recover loans or jeopardize the financial security of our shareholders.

To all stakeholders, I assure you that I remain steadfast in my mission to protect First Bank’s integrity and ensure its continued success. Media blackmail will not deter me from this responsibility.

-Femi Otedola

In the same vein, FirstBank followed suit with a similar response, stating the reasons the bank took the legal option while assuring stakeholders of maximum service. It wrote:

WE’RE BENT ON RECOVERING DIVERTED PROCEEDS, FIRSTBANK RESPONDS

In a statement by the management however, FirstBank insisted that it has been on the right side of the law while assuring customers, stakeholders and friends of the bank of its unflinching stand in the provision of first class services.

The full statement is as follows:

Our attention has been drawn to recent media reports regarding a commercial transaction between First Bank of Nigeria Limited (FirstBank) and General Hydrocarbons Limited (GHL) that is currently a subject of litigation.

As a responsible and law-abiding corporate citizen of Nigeria with utmost respect for the courts, FirstBank will not be able to offer comments on issues which are pending for determination by the courts, as such issues are sub-judice.

However, we are constrained to issue the following clarifications to correct the sponsored but false narratives on the matter presented in some of the media publications.

There is a subsisting commercial transaction between FirstBank as lender, and GHL as borrower, where FirstBank extended several credit facilities to GHL for the development of some Oil Mining Lease assets.

These facilities are backed by very robust loan agreements executed by the parties in which the obligations of the parties are clearly defined and the security arrangement clearly spelt out.

While FirstBank has diligently performed its obligations under the loan agreements, at the root of the present dispute is FirstBank’s demand for good governance and transparency in the transaction, which GHL rejected.

Upon FirstBank’s realization of breaches on the part of GHL including diversion of proceeds, FirstBank requested that an independent operator mutually acceptable to both parties be appointed in line with the terms of the agreement, to operate the financed asset in a transparent manner that will bring greater visibility to the project, protect the interest of, and bring value to all stakeholders. Not only did GHL roundly reject this reasonable and fair request, rather GHL insisted that FirstBank avails it with more funding. GHL refused to execute the terms of offer stipulated by the Bank for the availment of additional funding but rather proceeded to commence needless Arbitral proceedings.

GHL issued a notice to initiate arbitration and has no substantive claim pending at the Federal High Court. GHL approached the Federal High Court solely to seek preservative orders pending arbitration. Some of the preservative orders sought by GHL were granted while others were denied.

FirstBank is the only party that filed a substantive claim against GHL at the Federal High Court and the subject matter of FirstBank ‘s claim is not identical with the dispute GHL submitted to arbitration because FirstBank’s claim is in respect of subsequent credit facilities granted to GHL and the offer letters and finance documents pertaining to the subsequent transactions clearly state that the disputes arising from the subsequent facilities are to be resolved by a court of competent jurisdiction in Nigeria and not by arbitration.

Consequently, it is incorrect to assert that FirstBank abused the process of the court.

GHL off-took crude from the Floating Production Storage and Offloading (FPSO) vessel and diverted the proceeds. The Bank had no choice as a secured lender, under these circumstances of continued breaches, non-payment of due obligations and attempts to shield the Bank away from agreed security and repayment sources, than to approach the court for legal remedies, to preserve assets, recover the diverted proceeds, prevent reoccurrences and safeguard FirstBank’s interest. It is clear to us that the courts do not support or protect illegalities and breaches of contracts.

FirstBank has a long and very rich history of supporting and providing for the financial needs of its customers over its more than 130 years of unbroken existence. FirstBank remains committed to ensuring that it continues to support legitimate business aspirations of its teeming customers. At the same time, FirstBank is committed to the building of a strong credit culture where borrowers pay their debts when they borrow and will always take appropriate steps, within the ambit of the law, to resist attempts by borrowers to repudiate their repayment obligations.

We wish to assure FirstBank’s numerous customers, stakeholders and the general public that FirstBank remains solid, calm, steadfast and unflinching in its resolve to continue to provide first-class services to its teeming customers within and outside the country.

FirstBank also wishes to respectfully thank our shareholders for the indicatively oversubscribed Rights Issue of its parent Company, First Holdco Plc (“FirstHoldco”), in the first round of its capital raise and looks forward to an equally successful final leg of the recapitalization exercise when it is announced by FirstHoldco

THE OBA OTUDEKO AND BISI ONASANYA CONNECTION

As already stated by some shareholders, who insisted that Otedola was fighting on many fronts, and in cognizance of Otedola’s admission that he was poise to confront anyone indebted to the bank, the news of the Economic and Financial Crimes Commission (EFCC) filing a 13-count criminal charge against the Chairman, Honeywell Group, Oba Otudeko and a former Managing Director of First Bank, Olabisi Onasanya for allegedly obtaining the sum of N12.3 billion from First Bank, filtered into the public space.

They were to appear before Justice Chukwuejekwu Aneke of the Federal High Court, Lagos on Monday alongside, a former member of the board of directors of Honeywell Flour Mills Plc, Soji Akintayo and a company linked to Otudeko, named Anchorage Leisure Ltd.

All four were listed as defendants in the suit filed by an EFCC prosecutor, Bilkisu Buhari-Bala on January 16, 2025.

According to the EFCC, the four committed the fraud in tranches of N5.2 billion, N6.2 billion, N6.150 billion, N1.5 billion and N500 million, between 2013 and 2014 in Lagos.

In proof of the charge against the defendants, the EFCC listed Cecelia Majekodunmi, Ola Michael Aderogba, Abiodun Olatunji, Raymond Eze, Abiodun Odunbola, Farida Abubakar, Adaeze Nwakoby and Adeeyo David to give evidence of the fraudulent misrepresentation of the Defendants and tender relevant documents. Also listed were testimonies of representatives of Central Bank of Nigeria, representatives of Stallion Nigeria Limited and representatives of V-tech Dynamics Ltd.

According to the Commission, the offences contravene Section 8(a) of Advance Fee Fraud and Other Fraud Related Offences Act 2006 and were punishable under Section 1 (3) of the same Act.

Count 1 of the charge says that Chief Oba Otudeko, Stephen Olabisi Onasanya, Soji Akintayo and Anchorage Leisure Limited between 2013 and 2014 in Lagos, within the jurisdiction of this Honourable Court conspired amongst  yourselves to obtain the sum of N12,300,000,000.00 (Twelve Billion, Three Hundred Million Naira Only),from First Bank Limited on the pretence that the said sum represented credit facilities applied * for by V- Tech Dynamic Links Limited and Stallion Nigeria Limited, which representation you know to be false, and you thereby committed an offence contrary to Section 8(a) of Advance Fee Fraud and other Fraud Related Offences Act 2006 and punishable under Section 1(3) of the same Act.

In Count 2, it was alleged that the defendants, on or about 26th day of November, 2013 in Lagos, “obtained the sum of N5.2 Billion from First Bank Limited on the pretence that the said sum represented credit facilities applied for by V Tech Dynamic Links Limited which representation you know to be false.”

The 3rd count claims that the defendants, between 2013 and 2014 in Lagos, obtained N6.2 Billion from First Bank Limited on the pretence that the said sum represented credit facilities applied for and disbursed to Stallion Nigeria Limited, which representation you know to be false.”

County 4 reads, that you, Chief Oba Otudeko, Stephen Olabisi Onasanya, Soji Akintayo and Anchorage Leisure Limited on or about 26th day of November 2013 in Lagos, within the jurisdiction of this Honourable Court conspired amongst yourselves to use the total sum of N6,150,000,000,.00 (Six Billion, One Hundred and Fifty Million Naira Only.), which sum you reasonably ought to have known forms part of proceeds of your unlawful activities to wit: Obtaining by False Pretence and you thereby committed an offence contrary to Sections 18(a), 15 (2) (d) of the Money Laundering (Prohibition) Act, 2011 (as amended) and punishable under Section 15(3) of the same Act.

Count 5 accuses Chief Oba Otudeko, Stephen Olabisi Onasanya, Soji Akintayo and Anchorage Leisure Limited on or about 11th day of December, 2013 in Lagos, procured Honeywell Flour Mills Plc to retain the sum of N1.5 billion, which sum you reasonably ought to have known forms part of proceeds of your unlawful activities to wit: Obtaining by False Pretence and you thereby committed an offence contrary to Section 18(c), 15 (2) (d) of the Money Laundering (Prohibition) Act, 2011 (as amended) and punishable under Section 15(3) of the same Act.

During the session, the court addressed multiple motions, including the prosecutor’s request for a warrant of arrest, which the judge rejected due to the lack of formal service to the defendants. The judge granted an application for substituted service, and the case was adjourned to February 13 for arraignment.

I’VE FOUR DECADES OF IMPECCABLE PROFESSIONAL SERVICE, OLABISI ONASANYA RESPONDS

But on Sunday, former Managing Director of First Bank of Nigeria Plc (now FBN Holdings), Bisi Onasanya, denied any involvement in the alleged N12.3 billion advanced fee fraud levied against him and others during his tenure at the bank.

In a statement issued by his communication advisor, Michael Osunnuyi, Onasanya described the accusation as “baseless” and “unfounded,” expressing concern over the distress it has caused to his family, associates, and friends.

His statement read:

“Our attention has been drawn to allegations and charge sheet circulating on social media suggesting Dr Bisi Onasanya’s involvement in a purported commercial loan controversy at First Bank 12 years ago,” Mr Osunnuyi said.

“His stellar reputation of integrity, built over four decades of impeccable professional service, cannot and will not be tarnished by these false allegations and incorrect charges.”

The statement disclosed that the ex-First Bank of Nigeria Plc’s chief has not been issued any invite since an investigation by the EFCC since 2017, claiming that the matter is only a witchhunt.

I’LL AGGRESSIVELY DEFEND MY REPUTATION, OBA OTUDEKO RESPONDS

However, in a statement issued by General Counsel, Honeywell Group, Olasumbo Abolaji, Otudeko said he was yet to receive any official summons, adding that neither has his legal team received any official invitation from relevant authorities.The statement said, “This includes FBN Holdings, where he served as a director (then Chairman) from 1997 to 2021 and was instrumental in supporting the transformation of the bank from an old generation bank to its current leadership role as a pan-African financial services holding company.

“As he has done in the past, Dr Oba Otudeko is always ready and available to assist any government agency with appropriate oversight in the execution of their duties, with the expectation that these affairs will be conducted with the highest standard of professionalism.

“While we respect the role of the press in keeping the public informed, we urge journalists to verify such sensitive information before publication to ensure accuracy and fairness.

“At 81, after five decades of contributions to the growth of Nigeria’s economy, Dr. Oba Otudeko is now focused on mentoring the next generation of business leaders and contributing to the positive development of society through enterprise.

“He is not interested in serving in an executive capacity in any organisation in Nigeria or elsewhere, neither is he interested in serving in a non-executive capacity on any board asides those he currently sits on.

“This includes any possibility of returning to the board of FBN Holdings Plc, which appears to be the focus of the recent unfortunate news barrage. FBN Holdings, a legacy institution built over 130 years, holds a special place in Dr. Otudeko’s heart. He trusts this strong foundation to guide the institution into the next era of success.

“Dr. Oba Otudeko is confident that the truth will prevail in due course and looks forward to addressing these claims in the appropriate forum.”

Meanwhile, family sources have confirmed that Otudeko did not flee Nigeria, but traveled legally for medical reasons.

As it stands today, all eyes are focused on the expiration of the 21 days ultimatum given by the shareholders for the Central Bank under Mr. Yemi Cardoso to convene the Extraordinary General Meeting (EGM) in line with section 215 (1) of CAMA, to remove Otedola. The game obviously graded survival of the fittest, may be kind on Otedola, who is fighting on all fronts, or any other person of interest.

And like they say in all incomplete thriller, time will tell.

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Boss Picks

Jewel Howard-Taylor: An African Amazon Celebrates at 62

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By Eric Elezuo

Most Aftrican women qualify for unending celebration at every stage of their existence. They have written their names in gold, traversed barriers to stand out among a comity of achievers. Among such women is West Africa’s first female Vice President, Mrs. Jewel Howard-Taylor, who just clock 62 years.

An African of no mean ability, whose interest in the unity if the West African sub-region has remained one of her strongest point strengths as African politics and development continue to thrive. Her excellent performance has seen to emergence of another female Vice President in the region.

Born Jewel Cianeh Howard on January 17, 1963, the amiable politician of Liberian descent has practically done everything well, including being married to former warlord and president, Charles Taylor from 1997 to 2006 during which time, she showcased herself as most sought after Firstlady of the country, and in the West African sub-region.

Often revered as a Chief, Mrs Howard-Taylor is a proud daughter of Bong County, and born to the Royal Household of Kerkula Giddings of Sanoyea District. She was raised as a child on the Phebe Hospital Compound under the watch of her loving parents, Mr. Moses Y. Howard and Mrs. Nora Giddings-Howard, both of whom were enviable professional Health Workers who died in service to the people of Bong County, and are buried at the Phebe Compound.

Undeterred in her quest to be the best she can be, the 30th vice president of Liberia, who served from 2018 to 2024, Mrs Howard-Taylor has had an enviable political trajectory. In 2005, she was elected to the Senate of Liberia for Bong County as a member of the National Patriotic Party, and was Chair of the Senate Health and Social Welfare Committee on Gender, Women and Children

During the presidency of her husband, she held several official posts in the Liberian government, including Deputy Governor of the National Bank of Liberia (forerunner to the current Central Bank of Liberia), President of the Agriculture Cooperative and Development Bank (ACDB) and Mortgage Financing Underwriter of the First Union National Bank. In addition, she focused on educational, health, and social projects. These are positions she merited by qualification, dint of hard work and her goal-getting abilities other than privilege.

Mrs Howard-Taylor is not a run-of-the-mill administrator. She is well seasoned; educationally, career wise and experience. In the first instance, she holds a graduate degree in bmBanking and two bachelors in Banking and Economics, and presently a student in the MBA programme at Cuttington University in Liberia.It is worthy of note that on December 21, 2011, she graduated from the Louise Arthur Grimes School of Law of the state-owned University of Liberia, and is known to have been announced at one time as the new holder of the title “Madam Suakoko”, an honorary Bong County title memorializing the namesake of the Suakoko District.

In February 2012, Jewel, as very close friends call her, attempted to introduce legislation into the Liberian parliament that would have made homosexual activity a first-degree felony carrying the death penalty as the maximum punishment. Though the legislation was not passed after President Ellen Johnson Sirleaf said she would not sign any such bill, it became a plus for her Africanism and as a champion of sustaining African culture.

In 2017, Taylor was chosen by George Weah as his running mate on the newly formed Coalition (CDC) ticket. Following a runoff in late 2017, she became the first female Vice President of Liberia when her party won the elections.

A strong grass root strategist, Jewel has either served or currently serving in different high profile capacities, including

  • Chairperson, Women Legislative Caucus of Liberia
  • Chairperson, Education and Public Administration,
  • Co-Chairpersonon Planning & Development Committee;
  • Memberof the Joint Legislative Modernization Committee;
  • Member,  Committee on Judiciary;
  • Member, Committee on Autonomous Commissions;
  • Member, Committee on Defense, Intelligence, Security, Veteran Affairs;
  • Member, Committee on Internal Affairs, Good Governance & Reconciliation;
  • Member, Committee on Gender, Health, Social Welfare, Women & Children’s Affairs

She has also held or is holding Memberships in many Organizations, key amongst which are the following:

  • Chair, Board of Trustees, Restoration Baptist Church, Oldest Congo Town
  • Deaconess, Restoration Baptist Church, Oldest Congo Town
  • Member, Bong County Bar Association
  • Member, Bong County Women Association
  • Vice President, Board of Trustees, University of Liberia
  • Liberia’s Goodwill Ambassador on HIV/AIDS
  • Member, Liberian National Red Cross
  • Member, Liberian Rural Women Association
  • Member, YWCA
  • Member, Liberia Girls Guide Association
  • Member, Greater Monrovia Lions Club of Liberia

Mrs Howard-Taylor has also been a recipient of many accolades, Laurels and Awards from Local, National and International Organizations, ranging from humanitarian awards to outstanding Leadership awards.

NATIONAL AWARDS:

  • Women Activist Award, (2016) for her role in gender advocacy and empowerment,
  • The Nation’s highest honor as Knight Great Dame, Order of the Most Venerable Order of the Pioneers in 2005; granted to her by Former President Charles G. Taylor for her service to the Nation as the 21st First Lady of Liberia;
  • The First Female to be given the Distinguished Traditional Title of   Venerable Chief in the National Traditional Council of Liberia in 2011,  a Chieftaincy title conferred on her by Traditional Chiefs and Elders of Bong County for her role in sponsoring the a bill which created the National Traditional Council of Liberia; and in full recognition of her exemplary Services to the people of Bong, yea Liberia;
  • The Ellen Johnson-Sirleaf Presidential Recognition Award for Humanitarian Services and contribution to Youth Development in Liberia from the (AAW Peace) African & American Women in 2011;
  • Senator of the Year, 2008, 2009, 2010, 2011, 2012, 2013, 2014, 2015 from various organizations;
  • The National Excellence Award for National Service in 2011;
  • The National Excellence Award for Philanthropy in 2009;

INTERNATIONAL AWARDS:

  • The Pan African Award on Leadership Excellence & Women Empowerment, an Humanitarian Award 2016;
  • Woman of the Year, 2016, West African Philanthropist Organization;
  • Women Activist Award, 2016
  • West Africa  Philanthropy Awards  as Woman of the Year,  2016
  • 2nd Chance International Award as a Woman of Distinction 2015, New York City USA;
  • (ECOWAS) ECOFEPA Good Will Ambassador, Abuja, Nigeria; 2015;
  • Women Advancement Forum Award in recognition of her contribution to the Emancipation, Motivation and Advancement of Women of the World; 2014, Gambia.
  • The Outstanding African Women Achievers Award,  as African Mentor and Role Model 2013, from the African Women Leadership Organization(AWLO), in Nigeria;
  • An African Leadership Award, as Outstanding African Female Leader of the Year 2012 from the African Leadership Award, in Dubai;
  • An Excellence Award in Recognition of her Advocacy for the Rights and Empowerment of women from the African Women in Leadership Organization (AWLO) in 2012, in Nigeria

At 62, Mrs Howard-Taylor is far from spent. She is as agile as ever; as passionate to render humanitarian assistance as ever and as rearing to deliver projects as ever. She is the stock required for a formidable and true African Renaissance, and is poised to take the continent to the next level.

Additional information: The Executive Mansion

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