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Bola Ahmed Tinubu: Why I Cannot Laugh

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By Duke of Shomolu

If it was not biting me with millions of Nigerians, I would have been laughing today. The seeming helplessness and cluelessnes of this Government that came on board with massive arrogance is becoming a global shame.

Daily we see the economy tumble just as The President keeps appointing all sort of yes men into offices and where offices are not available, he creates verbous and amorphous roles for pple like my brother Fela Durotoye all on the tax payers head.

I have reached a point where I have stopped going into sessions with his key supporters. Arguing with pro Tinubu supporters is now veering into the realm of arguing in the religious space where logic and fact based engagements are thrown into the bush.

On our BGL Alumni group, an otherwise very brilliant Investment banker who is pro Tinubu was arguing very strongly in support of the 24year old non starter appointed Chairman of a strategic government institution. As he marshalled out his points, I was shaking my head and saying this one is gone.

Then the Goverment bowing to public pressure, rescinded the decision and this my fellow rather than apologise to the group ran to hide under some very spurious arguments in shame.

The other day, I went into an argument with a former Member of the House of Rep and a strong member of the Lagos establishment and by extension a strong pro Tinubu person.

As is the case with them, he bullied me to a standstill, starting every argument with- have you ran an election? I told him, this was a wicked way to engage because he was going at my credibility and shoring up his credibility to the audience such that his words no matter how arcane would be taken much more seriously than mine cos I hadn’t run an election.

I reminded him that as a Political Scientist, I knew that my right to abstain in a tainted process was also a very powerful political weapon. Why bother in an excercice that has already been rigged from end to end complete with the weakening of other wise independent democratic institutions of State.

Then he now started throwing up a new line of argument which made me pity him. He separated legal from the moral and said that we in opposition where pursuing morality as against the legality of it all.

I bowed my head in shame. I repeat, there seems to be a mass hypnotism amongst the elitist class in the south west as they continue to fight for a legitimacy of this aberration.

I ask him like I have been asking others, bro would you keep this person in your firm as your treasurer if after ten years, information comes out that he had some legal issues borthering on theft or drugs? This was in response to his talk about the statute of limitation.

He now screamed me down with all sort of arguments trying to throw up legal technicalities that supports this current situation we find ourselves in this country.

He is not a political scientist, so I forgive him for if he was, he would have known that the bedrock of politics and common good which is democracy are those themes of morality, Fair play, equity and Justice.

What we are seeing today negates the very Foundation upon which democracy sits and this is why the President can’t seem to pull in enough moral platitude to fight for the economy.

Cos he is seeking for a legitimacy he didn’t get in the polls, he is left with positioning rent seeking ’emoloyees’ in strategic position to sustain him and not necessarily fight for the economy.

Today we are seeing all sort of journey men in key positions as reward for past or future dealings who are just there doing nothing while the economy is on a free fall.

Buhari had mad men who took negative decisions, at least they were bold enough to chest those stupid decisions. Today what we have are low level operatives in strong positions.

What can Wale Edun or Cardoso do without clearance from a man who is spending 23 hours of the day with lawyers both local and international in a morbid bid to fend off an inevitable date with fate.

Edun and Cardoso are but tiny fishes that have been thrust into the wide ocean of international finance. A quick look at their background and you will see little people with a little but no experience at that level.

Serving the master as Commisoner of Finance in Lagos some 20 years ago and running a little known Investment banking outfit now gives you the courage to run an economy as large as Nigeria in a hemorrhage?

From being the chairman of a little known bank with six branches, he hits an utterly destroyed CBN and we expect magic? These are not even local champions and you put our hope on them?

It is no wonder that the Naira which is the best barometer of economic performance today is behaving like an Aids patient leading to loss of profitability in large firms and as such throwing millions into unemployment and pushing Inflation towards the 30% mark. Kai.

It is this same search for a legitimacy which will not come, that has led to the profligacy we see in Government especially at the National Assembly where those ones are behaving as if they are in a high school orgy.

The insensitivity is astounding and unprecedented. Well it’s not their fault, it’s the situation they find themselves where for the first time in Nigeria’s history they have a President under lock and key due to that ones colourful history.

I cannot laugh cos it’s biting me and millions but all I can say at this point, is Mr Tinubu if you want our support, please announce that you will forget a second term and start taking very strong decisions and appointments.

Restructure the CBN and Ministry of Finance by taking out those two and replacing them with well experienced developmental fiscal and monetary economist with global experience and network, not just bankers who spent their careers chasing deposits.

Take out the Minister of Solid Minerals and put a round peg in that hole and let’s start seeing action there cos that sector will definitely help with our revenues.

Put back the ban on the 43 items, begin to seek debt relieve , restructure debts to free up funds from debt servicing and very importantly reduce cost of governance by 50%. We don’t need all these people oooo.

Seek more Private sector involvement in the economy, push back Government and open up critical spaces like Agric, power, technology to Private sector intitaives whole you support with regulation and ease of doing business

Come out to Nigerians and seek National forgiveness and seek their understanding and support as you try to correct the economy in four years stating very clearly that we can not afford another round of elections – we will understand and be patient.

Anything else, we will see the Naira hit 2,000 and at that time the markets and the systems will react with uncanny wickedness that nothing you will do will assuage it’s anger.

Let’s stop playing the ostrich game, Nigeria is on fire and you are really not showing any kind of resolve to contain talkles of fighting the fire.

Na wa

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Opinion

ARISE Resort: A Symbol of Gov Umo Eno’s Visionary Leadership

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Of all the developmental strides of the Umo Eno-led administration, it can be aptly asserted that nothing so completely symbolizes the transformational vision of the Governor as the ARISE Resort.

The Arise Resort, a majestic and scenic recreational facility, stands as a testament to Governor Eno’s commitment to creating spaces that foster community, recreation, and economic growth.

This iconic resort not only showcases the administration’s dedication to urban development but also serves as a hub for social activities, sports and family entertainment, thereby enhancing the quality of life for residents and visitors alike.

This project located in an vast area that was hitherto an erosion site reveals the power of vision, quality of delivery, sense of style, technological sophistication, high aesthetic finesse, superior intellectual output and the practical economic ingenuity that Governor Eno brings to the table.

One could ask, why is the recreational centre named the ARISE Resort? From hindsight, part of the answer is that the name “ARISE” encapsulates the transformative vision of Governor Umo Eno’s administration, which seeks to uplift and revitalize the state’s infrastructure, economy, and social fabric.

The name also reflects the
Resort’s purpose as a vibrant hub of activity, where people can come together to socialize, relax, recreate, and rejuvenate, thereby rising above the challenges of everyday life.

The audacious project which is one of the most visited sites by the Governor is an excellent realization of his vision to transform a previously dreaded ravine into a valuable asset for the state’s tourism industry.

The unique project which all began with the reclamation of the Udoinwang-Etim Okon Umana ravine, is handled by Bulletine Construction Company and has expanded into a multi-faceted initiative with new components added after each review.

When completed, the Resort will become a global tourist attraction with such features as: an artificial lake, a nine-hole golf course, sports facilities, children’s playground, restaurants, 1000-capacity conference hall, bars, restaraunts and chalets

Its care­fully designed spaces capture both the natural beauty and leisure aspirations of the state, giving visitors a chance to also savour the finest culinary of­ferings within a scenic, green ambience.

Governor Umo Eno’s words at one of the unscheduled visits to the site is a fitting way to end this piece.

“This Resort can be compared to any in this region. It makes me happy because what was once just a dream is now becoming a reality. We have great people who have brought this vision to life, which is the essence of teamwork. I look forward to bringing my grandchildren here and running around with them,” he said.

Sent in by Ekemini James

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Opinion

President Trump’s Transformation of the Democratic System

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By Magnus Onyibe

President Donald J. Trump is actively reshaping the global political landscape, navigating the tension between globalization and fragmentation to establish a new order in the United States and, by extension, the world.

Before delving further into this discussion, I must disclose that I am an unapologetic supporter of the 47th President of the United States, Donald J. Trump. My support stems from my belief that he is undeniably a catalyst for change.

Many, including Democratic presidential candidates in the 2024 elections,ex president Joe Biden and former Vice President Kamala Harris, have accused Trump of seeking to dismantle democracy. However, a more accurate assessment is that he is challenging the status quo in Washington through radical policy shifts. While Democrats frame his actions as a threat to democracy, I see this as a misleading narrative,because changing the dynamics of democracy does not equate killing it.

Despite the alarm raised by his opponents, American voters prioritized economic concerns—rising inflation, the high cost of living, soaring housing prices, and the influx of undocumented immigrants—over the warnings about imminent death of democracy. It was these pressing issues that motivated voters to support Trump’s return to the White House.

The more than 77 million Americans who voted for him did so because they believe he was on a mission to address what they see as a “woke” and financially struggling America. According to the Oxford Dictionary, “woke” refers to those who are socially aware but is often used pejoratively to describe individuals perceived as self-righteous or overly dogmatic in their advocacy.

True to his promises, Trump wasted no time in implementing his agenda. During his inauguration, he took a strong stance against “woke” ideology by affirming that the U.S. Constitution recognizes only two genders—male and female—a direct challenge to the LGBTQ+ community. He has since followed through on his pledges by signing a series of executive orders aimed at radically reshaping America.

So, from my perspective, Trump is simply fulfilling the commitments he made during his campaign. The backlash from those negatively affected by his policies is therefore unsurprising, yet it should not overshadow the fact that he is delivering the change that millions of Americans willingly voted for, believing it will restore the country’s greatness.

As someone who embraces change, I am excited to see a leader who challenges the status quo in public leadership finally take charge. That leader is Donald J. Trump, who has now assumed office in the White House, the seat of U.S. political power.
Given President Tinubu’s huge appettite for change which has wrought on Nigeria in the past 2O months,he may be said to be cut from the same cloth with Trump, literally speaking.

Mr. Trump as the leader of the free world- U.S, exerts enormous influence on global affairs, reinforcing the popular saying: when America sneezes, the rest of the world catches a cold. This is evident in Trump’s decision to impose tariffs on key trading partners—25% on Mexico, 25% on general goods plus 10% on Canadian oil, and 10% on China—primarily to curb illegal immigration and combat the flow of fentanyl, a deadly drug ravaging American communities.

Before Trump even took office, his threats of tariff hikes caused global concern. However, World Trade Organization (WTO) Director-General Dr. Ngozi Okonjo-Iweala, speaking at the World Economic Forum (WEF) in Davos, urged caution: “I am concerned, but my approach is to stay calm. Let’s wait to see what policies are actually enacted before overreacting.”

Despite this advice, some countries affected by the new tariffs —especially Mexico and Canada—have already announced retaliatory tariffs, raising fears of an all-out trade war. Meanwhile, China has opted for a legal approach, filing complaints against the U.S. through the WTO.

As the head of the WTO, Dr. Okonjo-Iweala will play a crucial role in resolving this looming global trade conflict. Given her extensive experience—including her tenure at the World Bank and her ongoing second term as WTO chief—there is hope that she can help de-escalate tensions.

Anticipating the economic impact of the trade war, President Trump has urged Americans to brace for temporary hardships, acknowledging that tariffs might contribute to inflation. However, he remains confident that the outcome will ultimately benefit the country, declaring: “This will be the golden age of America. Will there be some pain? Yes. But we will make America great again, and it will be worth the price.”

This sentiment is reminiscent of Nigerian President Bola Tinubu’s remarks when he removed the long-standing fuel subsidy and floated the naira, leading to economic hardship for Nigerians. He reassured the nation, saying: “I understand that our people are suffering, but there can be no childbirth without pain. The joy of childbirth is the baby. Relief comes after the pain. Nigeria is being reborn.”

Remarkably,Trump’s policies signal a fundamental shift away from globalization—a concept introduced between 1870 and 1914 and later popularized in 1983 by economist Theodore Levitt in his essay titled “The Globalization of Markets.” The current global order, shaped by decades of economic integration, now faces disruption under Trump’s America First doctrine, which prioritizes national interests over international cooperation.

Interestingly, Trump’s long-held stance on tariffs is not new. In a resurfaced 1978 interview with Oprah Winfrey, he expressed similar views, making it clear that his current trade policies have been decades in the making.

While trade wars typically harm weaker economies (when elephants fight, the grass suffers), Africa might stand to benefit from this geopolitical shift. As tensions escalate among major trading partners—U.S., Canada, Mexico, and China—Africa, historically seen as merely a source of raw materials, could emerge as an alternative manufacturing hub.

For instance, Nigeria’s oil exports to the U.S. declined significantly under President Barack Obama, with Canada and Mexico becoming America’s top crude suppliers. However, if the trade war leads to disruptions in North American oil exports, Trump may turn back to Nigeria, currently the 8th largest supplier, to fill the gap.

So, rather than viewing Trump’s policies as purely negative, it may be worth considering the potential opportunities they create for Africa. As a matter of fact , instead of getting caught up in narratives of doom and gloom, could this be a moment for the continent to reposition itself as a key player in the evolving global trade landscape?

I would argue that it is time for the world to recognize that Africa is not a problem to be solved but a vital part of the global solution. Thats owed to the fact that the continent holds vast reserves of critical minerals essential for the energy transition that the world desperately seeks. Rather than being viewed merely as a supplier of raw materials, Africa should be seen as a prime destination for investment and industrial partnerships.

There is a well-known economic principle that a rising tide lifts all boats and yachts. In that spirit, industrialized nations like the U.S. and China must acknowledge that Africa—home to 54 countries and a population of approximately 1.5 billion, larger than China’s 1.3 billion and rivaling India’s 1.4 billion—is not a charity case but an investment opportunity.

As a long-time advocate for Africa’s economic resurgence, I have consistently argued that the continent needs trade, not aid. So, it is imperative that major global economies shift their perception of Africa from a passive recipient of aid to an active economic partner. Historically, Africa has been exploited—most notably through the partitioning of the continent at the 1884–1885 Berlin Conference, where European powers divided African territories for their own benefit. As a result, Africa has remained marginalized in global trade, accounting for less than 3% of total global trade, despite having 18% of the world’s population.

To secure a greater share of global trade, Africa must be integrated into the evolving international economic order. Without disruptions to the existing system—such as those triggered by President Trump’s policies—meaningful change is unlikely. Given the resistance Africa has faced in its bid to gain a permanent seat on the UN Security Council, a fundamental shift in global power structures, like the one Trump is advocating, may be necessary for Africa to be taken seriously as a key player in international trade.

At this moment in history, the world may actually benefit from the tensions between defenders of the entrenched old order and leaders like Trump, who are determined to shake up the system. Since assuming office on January 20, 2025, Trump has been implementing the bold changes he promised during his campaign. In my assessment, the mandate given to him by American voters provides a unique opportunity to push for a rebalancing of global trade and governance.

Throughout history, transformative change has always required bold action. If astronauts had not pushed boundaries, Neil Armstrong would never have walked on the moon in 1969, a breakthrough that reshaped human understanding of the universe. Similarly, astronomer Galileo’s discoveries challenged the belief that the Earth was flat, while it is actually cylindrical paving the way for modern scientific thought. It is this same drive for progress that appears to be fueling Trump’s disruptive approach to governance.

Keyu Jin, a professor of economics and author of The New China Playbook, recently highlighted a growing shift in global trade patterns, noting that China and other nations have been diversifying their markets away from the U.S. even before the current tariff wars. Therefore,Trump’s policies are merely accelerating this trend. In Europe, for instance, we are seeing a rise in nationalist-leaning leaders, particularly in France and Germany, who are also prioritizing domestic interests over globalism.

This geopolitical realignment is further evident in the expansion of BRICS—a coalition of Brazil, Russia, India, China, and South Africa—which has recently welcomed new members like Saudi Arabia, Iran, and Egypt. As more countries join BRICS in an effort to counterbalance U.S. influence, and attempts to reduce dependence on the U.S. dollar in global trade may intensify. The general belief is that if America continues using tariffs as a tool to pressure its trading partners, it risks pushing them further toward alternative alliances, potentially diminishing its own economic influence. But would that really be the case?

For Africa, this shifting landscape presents an opportunity. If trade flows are redirected away from the U.S., Africa could gain a larger share of global commerce—but only if the continent positions itself strategically. With the establishment of the African Continental Free Trade Area (AfCFTA), headquartered in Ghana, Africa is already laying the groundwork to take advantage of this new world order.

While Trump’s critics have valid concerns about the potential risks of his sweeping policy changes—particularly the hardship caused by the deportation of undocumented immigrants and disruptions in U.S. aid to Africa( which was later restored) it is also worth considering the potential long-term benefits of a restructured global economy.

The changes unfolding in global trade could open up unprecedented opportunities for Africa. If the continent plays its cards right, it could emerge as a major beneficiary of the ongoing shake-up. So, instead of viewing Trump’s policies solely through the lens of crisis, perhaps it is time to explore how Africa can leverage this moment to secure a more equitable role in the global economy.

A US based Nigerian Professor Ndubuisi Ekekwe describes Trump’s leadership as a “tsunami-earthquake-storm” approach, highlighting the unprecedented nature of shutting down USAID. According to him, this move signals a clear message to the world—that America has no obligation to fund or influence other nations through soft power. However, he suggests that this could actually be a positive development if African leaders step up and take responsibility.

He further explains how foreign aid often distorts markets and hinders sustainable development. For instance, an entrepreneur might develop a viable product in healthcare, education, or agriculture, only for an aid agency to introduce a similar product for free. This forces local businesses to shut down, and once the aid funds disappear after a few years, communities are left worse off, having lost both the external support and the local solutions that were once in place.

Rather than panicking over these funding cuts, Professor Ekekwe urges African governments to seize the opportunity by creating systems to identify and assist citizens in need. He argues that without external interference, local businesses can step in to fill market gaps, and governments can provide targeted support to those who truly require it. He points out that Africa has a long history of self-reliance and should return to indigenous solutions rather than depending on unpredictable foreign aid.

This perspective aligns with the arguments earlier made by economist Dr. Dambisa Moyo in her ground breaking book “Dead Aid”, where she contends that Western aid has done more harm than good in Africa.

Considering Trump’s repeated assertion that his second term marks a “golden age” for America, it is possibly a golden age for Africa too as the continent could benefit—if it strategically positions itself to take advantage of the shifting global order being shaped by Trump’s policies.

Magnus Onyibe, a public policy analyst, author, democracy advocate, development strategist, alumnus of the Fletcher School of Law and Diplomacy, Tufts University, Massachusetts, USA, and a former commissioner in the Delta State government, (2003-2007) sent this piece from Lagos, Nigeria.

To continue with this conversation and more, please visit www.magnum.ng.

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Opinion

EFCC in the Eye of the Storm!

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By Ayo Oyoze Baje

With comments such as ” embarrassing”, “shameful” and ” disturbing” trailing the recent revelations that not less than 27 officers of the Economic and Financial Crimes Commission, EFCC were reportedly dismissed for acts of misconduct and fraudulent activities in 2024 alone, the clarion call for full-fledged investigations into what really happened has become a necessity. This is compelling because the alleged acts of fraud span from Lagos to Kaduna Zonal Commands. And given the delicate duty hinged on the matching mandate of the EFCC he who comes to equity must do so with clean hands.

But sadly, according to the spokesperson of the federal government agency, Dele Oyewale as revealed on January 6, 2025 the EFCC has started investigating ” a trending $400, 000 claim of a yet – to – be – identified supposed staff of the agency against a sectional head”. But that was just a tip of the iceberg. Some two days later, precisely on January 8, of this year 10 officers of the Lagos Zonal Command were detained over the theft of operational items.

Listed amongst the missing items are gold bars valued at over N1 billion. That is in addition to some precious jewelry and cash of between $350,000 and $400,000. Though the agency is yet to speak on what took place at the Kaduna Zonal Command, an officer simply identified as Polycarp allegedly stole a humongous amount claimed to be over $30,000 in addition to other valuable items.Such an embarrassing situation certainly triggers some flaming questions.

For instance, how do we explain the scandalous scenario that an anti-graft agency of the stature of the EFCC could not provide adequate security for expensive exhibits, including gold and mouth-watering amounts of raw cash? How would any officer, trained to fight for and recover stolen materials and money blame the prevailing poverty and high cost of living in the country as the factors of temptation for his shameful and unpatriotic act? Good leaders do not give excuses for dereliction of duty. Not at all. Rather, they should muster the moral courage to rein in the insidious urge to attempt to convert what does not belong to one as his, for whatever reason. That brings us to the nitty-gritty of the Act which established the EFCC.

Propelled by the Establishment Act first enacted in 2002 and subsequently amended in 2004 the matching mandate of the Economic and Financial Crimes Commission, EFCC is to frontally combat both economic and financial crimes. To bolster its performance the Act enables the Commission to prevent, investigate, prosecute and penalize economic and financial crimes in their various shades. Good enough, the EFCC is also charged with the responsibility of executing the provisions of other laws and regulations that are related to economic and financial crimes.

In its distilled essence, these laws are embedded in Section 7(2) of the Establishment Act 2004. These include Money Laundering Act 1995, Money Laundering (Prohibition) Act 2004 as well as Advanced Fee Fraud and other related Offence Act 1995. Not left out are the Failed Bank Act, 1994, the Criminal Code and the Terrorism Act 2011. But the recent revelations of odious acts of deliberate criminality carried out by officers of the EFCC run against the grains of the fight against corruption. They must therefore, be brought to the public sphere for proper scrutiny while the agency should beam a brighter searchlight into its inner structures to plug the widening loopholes.

Beginning with its recruitment process, it has become expedient for a more thorough assessment of the moral standards of any Nigerian citizen presenting himself for any of the available posts before he is employed there. Also significant is the need to guarantee the safety and security of all forms of exhibits -be it gold, jewelry or cash-preferably in bank vaults. Doing so will cut off any access to them.

From the point of view of security experts it amounts to unprofessional act not to have mechanisms firmly in place to ensure both safety and accountability of the exhibits. And if the EFCC decides to keep them within its purvey they should be well secured with multiple layers of protection provided. With such a guarantee it means that if the court finally decides in favour of the defendants, or those alleged to have stolen the recovered items they would be fully returned, without spurious claims of such to have been stolen by operatives of the EFCC. That brings us to what punishments should be meted out to the culprits.

Beyond their outright dismissal from office, they should be prosecuted and made to face the full wrath of the law. If perhaps, they have relocated outside the country the use of biometrics on record will be handy to trace and track them down.That would send the right punitive message and serve as a form of deterrence, to others with similar inclination to steal. But then, the question on the lips of concerned Nigerians is why all these acts of malfeasance are coming up at this point in time?

While some observers of the goings on at the EFCC have applauded the Chairman, Olanipekun Olukayode for mustering the leadership will to ensure probity and accountability in the operations others are not impressed by the method of night raids. Also, with the viral video of one Idris Okunaye, aka Bobrisky who claimed that some operatives of the agency collected N15 million from him to absolve him of the charge of money laundering, though later denied, the image of the EFCC is currently at stake.

But we urge Olukayode to continue with the internal cleaning up process, go ahead with the auditing of the recovered items on Zonal Command basis and ensure their security. He should review the night operations that have led to some deaths of the officials, strengthen oversight functions while doing away with problems traced to political interference.

As the Centre for Anti-Corruption and Open Leadership has rightly demanded for the internal cleansing should be holistic and devoid of manipulations from the corridors of political power.

Indeed, to restore public confidence in the EFCC it must free itself from the antics, sentiments and threats from the executive arm of government at the state and federal government levels. That would also reinforce the standard of morality in the nation, which has been rubbished by the crass, crude and criminal culture of impunity. With some of those who have pilfered the national treasury dry still walking our streets as free men and women, it is hard to discourage our rudderless youths from all forms of fraudulent practices. But we cannot continue to tread that path of perfidy. Not at all.

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