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Increase in Minimum Capital Requirements for Nigerian Banks (Pt. II)

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By Bashorun J. K. Randle

It is self-evident that whatever the Governor of the Central Bank is doing (or not doing), the backing (and banking!!) of the President is critical. On that score, President Bola Ahmed Tinubu did not pull any punches when he spoke at the Hague, Netherlands during the business session of the bilateral meeting with the Dutch team, led by Prime Minister Mark Dutte.

“I am ever ready to take tough decisions in the best interest of the people, even if with initial pains. I am a determined leader; I will continue to take the difficult decisions that will benefit our people, even if there is a short-term pain. I am unafraid of the consequences once I know that my actions are in the best long-term interests of all Nigerians.”

Hence, we must recognize the over arching influence of Mr. President in economic, financial and political matters. When he was sworn in on 29th May 2023, he released an unscripted bombshell while delivering his inaugural address at Eagle Square, Abuja: Shortly afterwards, he spilled the beans in Paris while addressing Nigerians. According to AFP [Agence Francais-Presse]

“When I got to the podium, I was possessed with courage and I said fuel subsidy is gone. Also, no more parallel (black market) for dollars.”

On November 22, 2023, when President Tinubu addressed German-Nigerian Business Forum again he did not pull any punches:

“Nigeria voted for me for reforms, and from day one of my inauguration, I started the reforms. To me if you didn’t mention me in the Guinness Book of Records, I’d strive to find a way to insert myself because I did it without expectation.”

The endorsement of the IMF [International Monetary Fund] followed on February 14, 2024.

“The new Tinubu Administration has made a strong start, tackling deep-rooted structural issues in challenging circumstances. Immediately it adopted two policy reforms that its predecessors had shield away from: fuel subsidy removal and the unification of the official (dollar/naira) exchange rates.”

Front page editorial of “Nigerian Tribune” newspaper.
Headline: “BRIBES : TINUBU’s CHARGE TO INVESTORS”

“President Bola Tinubu recently set tongues wagging when, during his just concluded trip to Doha, the Qatari capital, he told the country’s captains of industry to report directly to him if any Nigerian official demanded a bribe from them in order to facilitate a business transaction. Revealed in a signed statement by Special Adviser to the President on Media and Publicity, Ajuri Ngelale, the president’s message to Qatari investors at the Nigeria-Qatar Business and Investment Forum could not have been clearer: “Do not offer a bribe to any of our people, and if it is requested or taken from you, report to us. You will have access to me.”

Eager to drive home the point that the country is open to business and will adopt a business-friendly approach on his watch, he added: “Whatever is the obstacle or problem that some of you might have experienced; it is in the past because there is no obstacle in the future. We are removing obstacles today, and we are going to continue to remove all obstacles. We have done so much within nine months. And I assure you, it is free entry, and free exit. Your funds will flow smoothly into and out of our country. Bring your investments.” Finally, he urged Qatari investors not to allow “perceptions” about the country to “become a hindrance to [their] will to invest,” since “Nigeria is serious about revolutionizing investment promotion.”

We could not be more delighted to read this promise of radical transparency from the president since, at the very least, it shows that he is not unaware of the tremendous odds typically faced by any entity- individual or corporate- seeking to do business in Nigeria. While, as the president mentioned, corruption is the most significant among these challenges, it goes without saying that it is just one of many tangible and intangible obstacles to investment.

Accordingly, not only do we welcome the president’s statement, for nothing could be more timely, we urge him to do everything within his capacity to ensure that the book is thrown at whoever flouts it, no matter how highly placed such a person is in the current administration. In other words, nothing is more important than the president backing his rhetoric with action, for understandably, many Nigerians are bound to sneer, saying that they have heard such soaring rhetoric before and that when the time came for egregious misdemeanors to be punished, the government lost its nerve. Since such skeptics have a point, the task before the president is to show that their skepticism has no basis, and that he will let the hammer fall on whichever official demands inducement to do their job.
Until then, he can, as a matter of fact, do something about the current situation in the upper legislative house, where rumours of budget-padding and dubious awards to senators have cast a shadow upon the integrity of the lawmakers. If the government is truly interested in fighting corruption, it can do no better right now than to act on the many cases of corruption dotting the landscape, including those affecting and relating to those within the inner circle of government. This would send the right and correct signals that Nigeria is ready for positive change and a new approach to public life rather than following the usual ineffective and tawdry public assertions that mean nothing in reality.”

The Central Bank of Nigeria used to boast of an excellent Research Department with a world class library. The King’s College Old Boys Association [KCOBA] would not take matters for granted. Here is a list of books which are to be delivered to the Governor of the Central Bank, Mr. Yemi Cardoso and Deputy Governor, Mr. Phillip Ekeazor (who are both old boys of St. Gregory’s College, Lagos:

(i) “Curse of Cash” by Kenneth S. Rogoff
(Harvard University)

(ii) “The Origin And Prevention of Major Wars” by Professor Robert Rothberg
(Harvard University)

(iii) “The Bottom Billion” by Professor Paul Collier
(Oxford University)

(iv) “What Terrorists Want: Understanding the Enemy, Containing The Threat” by Professor Louise Richardson
(Oxford University)

(v) “The Elite Africa Project” by Professor Peter Lewis
(John Hopkins University)

(vi) “WONDER DRUG”
(7 Scientifically Proven Ways
That Serving Others Is The
Best Medicine for Yourself) by Stephen Trzeciak M.D.
and
Anthony Mazzarelli M.D

(vii) “THE ROAD TO FREEDOM, ECONOMICS
AND THE GOOD SOCIETY” by Joseph E. Stiglitz
(Winner of Nobel Prize)
Professor at Harvard; Yale;
Emerson College, University
Of California, Berkeley

From the archives we have the following vignettes:
(i) When the British Bank For West Africa
(now known as First Bank of Nigeria Plc)
was formed in 1894 among its founding
shareholders was Dr. J.K. Randle. The
inaugural meeting was held at the Colony
Hotel, in London.

(ii) When British Bank of West Africa launched a branch in Kano in 1929, Alhassan Dantata (Aliko Dangote’s grandfather) opened an account by depositing twenty camel-loads of silver coins.

(iii) “The Chairman of EFCC [Economic and Financial Crimes Commission] has announced that the embattled former Governor of Kogi State, Yahaya Bello withdrew funds from the government treasury and obtained U.S.$720,000 from a Bureau de Change to pay for his children’s school fees in advance at American International School, Abuja”

“Business Day” newspaper of May 8, 2024
Headline: “CHIKE-OBI CAUTIONS AGAINST POOR EXECUTION AMID BANKS’ RECAPITALISATION”

Mustapha Chike-Obi, chairman, Bank Directors’ Association of Nigeria, on Friday lauded the Central Bank’s latest bank recapitalisation policy but warned that poor execution could scuttle the gains.

Chike-Obi spoke at a roundtable assessing the bank recapitalisation policy organised by BusinessDay Media Limited in Lagos. He noted the 2004/2005 recapitalisation exercise was a good policy but was poorly implemented due to governance issues.
The CBN on March 28 announced new capital requirements for Nigerian lenders from commercial to merchant banks. The last such exercise was in 2004/2005, two decades ago.

During the recapitalisation of 2004/2005, a surge in liquidity occurred without adequate investment opportunities, leading to an asset bubble and subsequently the dismissal of several bank chiefs.

“A good policy that brings bad results means execution was problematic along the way. We are seeing bad results from good policies and nobody is taking responsibility for that. We should celebrate the policy and the results,” he said.

Speaking further, he said, “I encourage more engagement from the CBN, it’s better if they talk to the banks about why retained earnings are not considered at this point in time.

I think there should have been better engagement, some things need to be explained. Why does an international licence require more capital than a national licence? If you’re diversifying across nations, does that mean more risk? If I have one branch in London as Fidelity, am I in the same boat as a UBA who has many branches in many countries?” Chike-Obi, Chairman of Fidelity Bank Plc, said.

The CBN said all international banks should move their capital to a minimum of N500 billion; national banks up to a minimum of N200 billion; regional banks (N50 billion); merchant banks (N50 billion) and N20 billion for non-interest banks operating nationally and N10 billion for those operating regionally.

In his keynote address, Ike Chioke, Group Managing Director Afrinvest (West Africa) Limited, noted that “after the announcement of the last recapitalisation we had 89 banks operating with N311 billion total capital, which was equivalent to $2.4 billion at the time.

We ended up by December 31 2005 with 25 commercial banks each with a minimum of 25 billion and a total capital of N932.0 bn.
He said that commercial banks have a capital gap of N3.7 trillion to meet the capital requirements while the merchant banks have N200.6 billion.

There is some scepticism that banks will take on significantly more lending to the private sector once their minimum capital is raised given the risk in an economy battling with accelerating inflation and a severe cost-of-living crisis.

“We can still lend, but we’re limited in how much. As a banker, it’s more attractive to buy Treasury bills at 25 percent than to lend to people,” Chike-Obi said.

“There’s a reluctance by banks to lend. I would have reduced CRR, and told banks they can’t buy more than 10 percent of T-bills. This will force them to lend to people.”
He also said the notion that banks give people money to buy FX is not true.

“People only buy FX because it makes sense to them. It’s a rational economic decision. What we have to do is to make it more rational to hold assets in naira than in dollars. I’ll raise short term rates to 30%, and prevent banks from having more than 10 percent in T-bills.

What we have doesn’t allow growth and banks aren’t lending. I believe GDP growth will be lower in the fourth quarter than predictions. The raise in capital is necessary because the FX adjusted basis has gone down. So, the recapitalisation isn’t as massive as it looks from the outside,” he said.
Front page of “The Punch” newspaper of April 22, 2024
Headline: The Institute of Chartered Accountants of Nigeria

Recommendations made by the Institute of Chartered Accountants of Nigeria on the New Minimum Capital Requirements for Banks in Nigeria: Our Position.

“Given the above, the following recommendations are made to ensure a successful implementation of the programme:

1. The CBN may consider allowing the inclusion of retained earnings on the condition that they are not impaired by losses, to make it easier for the banks to comply with the new capitalization policy.

2. The two-year period allowed is considered sufficient to implement the programme. However, in view of the young age of non-interest banks in Nigeria, they should be allowed a longer period, probably three years, to meet the minimum capital requirements.

3. The Institute urges the CBN to extend the 30-day period it gave banks to come up with an implementation plan to 60 days given that it would take some time to obtain the consent of shareholders.

4. It is also important that the CBN provides some incentives to banks to facilitate the recapitalization exercise as was done in 2005. This can take the form of tax incentives and ensuring that the overall cost of recapitalization is low by seeking the cooperation of relevant stakeholder institutions such as the Federal Inland Revenue Service, the Securities and Exchange Commission, the Nigerian Exchange as well as the Federal Competition and Consumer Protection Commission given that banks have the option of raising funds through the Capital Market or Mergers and Acquisitions.

5. The CBN should adequately supervise the banks to ensure that the costs of recapitalization are not transferred to their customers by way of higher bank charges.

6. The CBN is advised to engage the Bankers Committee on measures to put in place to ensure adequate compensation to staff of banks that may be disengaged as a result of the recapitalization exercise.

7. Exercise due verification to ensure that corrupt and laundered money do not find their way int the capitalization.”

Frontpage of “ThisDay” newspaper of April 13, 2024
Headline: AUDIT REPORT: SENATE PROBING 774 FEDERAL AGENCIES OVER AUDITOR GENERAL’S QUERIES”

“The Senate is currently scrutinizing the financial records of 774 Federal Agencies based on the queries raised against them in the 2019 report of the Auditor General for the Federation.

The Chairman, Senate Public Accounts Committee (SPAC), Senator Aliyu Wadada, disclosed this yesterday in his Keffi, Nasarawa State, country home while speaking with journalists. He noted that his committee was not out to witch-hunt anyone but pledged that members of the panel would discharge their responsibilities diligently in the best interest of the country.

Wadada, also disclosed that the 10th National Assembly with the support of President Bola Tinubu and critical stakeholders in the nation’s economy would soon embark on the amendment to the 2007 Procurement Act so as to curb financial infractions before they take place.

He nevertheless appealed to leaders at all tiers and heads of government institutions at the Federal, State and Local government levels to embrace the spirit of self-discipline and fear of God in the discharge of their responsibilities.

The Senator, who is representing Nasarawa West Senatorial District on the platform of the Social Democratic Party (SDP), said no matter how beautiful a law is crafted, it needed godly people to implement it.

Wadada said, “When I became the Chairman, Senate Public Accounts Committee (SPAC), I was emphatic on the need for President Bola Tinubu to appoint the substantive Auditor General for the Federation (AuGF).

“I even wrote a letter to that effect to the President and he responded by appointing a substantive AuGF.

The AuGF report for the 2020, 2021, 2022 fiscal years were not all ready. It was only the 2019 Auditor General’s report that was then ready for us to take actions on.

The Auditor General’s report for 2020 was ready at the time I became the Senate Public Account Committee but it could not be signed by the acting Auditor General for the Federation.

As we talk, the 2020 Auditor General’s report is ready and the substantive AuGF has appended his signature to it. The development is a confirmation that the Presidency under the stewardship of President Bola Tinubu is available, is responsive and supportive of the Committee on Public Accounts in the two chambers of the National Assembly. We have since started work on the 2019 Auditor General’s report before us.

Under my chairmanship of this sensitive and strategic committee, I have repeatedly said that we are not out to witch-hunt or pull down anybody.

Our ultimate objective vis-à-vis the primary focus of the committee is to ensure transparency and accountability in the management of public funds.”

Front page of “The Punch” newspaper of April 12, 2024
Headline: VIETNAM TYCOON SENTENCED TO DEATH IN
$12BN FRAUD CASE”

“A court in Vietnam sentenced real estate tycoon Truong My Lan Thursday to death over her role in a 304 trillion dong ($12.46bn) financial fraud case, the country’s biggest on record, state media reported.

CNN reports that her trial, which began on March 5 and ended earlier than planned, was one dramatic result of a campaign against corruption that the leader of the ruling Communist Party, Nguyen Phu Trong, has pledged to stamp out.

Lan, the chairwoman of real estate developer Van Thinh Phat Holdings Group, was found guilty of embezzlement, bribery and violations of banking rules at the end of a trial in the business hub of Ho Chi Minh City, state media said.

We will keep fighting to see what we can do,” a family member told Reuters, speaking on condition of anonymity. Before the verdict, he had said Lan would appeal against the sentence.
Lan had pleaded not guilty to the embezzlement and bribery charges, Nguyen Huy Thiep, one of Lan’s lawyers told Reuters.

“Of course she will appeal the verdict,” he added, noting she was sentenced to death for the embezzlement charge and to 20 years each for the other two charges of bribery and violations of banking regulations.

Vietnam imposes the death penalty mostly for violent offences but also economic crimes. Human rights groups say it has executed hundreds of convicts in recent years, mainly by lethal injection.

The Thanh Nien newspaper said 84 defendants in the case received sentences ranging from probation for three years to life imprisonment. Among them are Lan’s husband, Eric Chu, a businessman from Hong Kong, who was sentenced to nine years in jail, and her niece, who got 17 years.

Lan started as a cosmetics trader at the central market in Ho Chi Minh City, helping her mother, she told judges during the trial, according to state media.

She later founded her real estate company, Van Thinh Phat, in 1992, the same year when she got married, according to state media. She was found guilty, along with her accomplices, of siphoning off more than 304 trillion dongs from Saigon Joint Stock Commercial Bank, which she effectively controlled through dozens of proxies despite rules strictly limiting large shareholding in lenders, according to investigators.

From early 2018 through October 2022, when the state bailed out SCB after a run on its deposits triggered by Lan’s arrest, she appropriated large sums by arranging unlawful loans to shell companies, investigators said.

The defendant’s action not only violate the property management rights of individuals and organisations but also put SCB under scrutiny, eroding people’s trust in the leadership of the Party and State,” state newspaper VnExpress cited the jury as saying.

The bank is currently propped up by the central bank and faces a complex restructuring under which authorities are trying to establish the legal status of hundreds of assets that were used as collateral for loans and bonds issued by VTP. The bonds alone are worth $1.2bn.

Some of the assets are high-end properties, but many others are unfinished projects. Before her fall from grace, she had played a key role in Vietnam’s financial world, getting involved in the previous rescue of troubled SCB more than a decade before she contributed to the bank’s new crisis.”

Front page of “Africa Voice” newspaper of 29 April, 2024
Headline: “PROF WINS TOP AWARD FOR ISLAMIC MORAL ECONOMY”

“Professor Mehmet Asutay has been selected as the first-place winner of the 2024 Islamic Development Bank (IsDB) Prize for Impactful Achievement in Islamic Economics and influential contributions to the field of Islamic economics and finance.

The prize laureate is a Professor of Middle Eastern and Islamic Political Economy & Finance at Durham University, United Kingdom. He is an internationally recognized academic who produced pioneering and impactful scholarly works.

Professor Asutay was selected in recognition of his novel work on Islamic moral economy and the articulation of Islamic finance to be supportive of sustainable development and the welfare of human beings. This year’s prize cycle aims to recognize, reward and encourage significant knowledge contributions in Islamic economics with the potential to solve major development challenges of IsDB member countries. The prize comes with a US$50,000 award for the first prize winner, US$30,000 for second prize, and US$20,000 for third prize. However, the second and third-position prizes are withheld this year.

Every year the winners of the IsDB Prize are selected by a different committee of experts from outside the IsDB Group, whose work is coordinated by the Islamic Development Bank Institute (IsDB).

The winner of this year’s prize will receive the award during the IsDB Group Annual Meetings, scheduled for 27 – 30 April 2024 in Riyadh, Saudi Arabia. In his comments on this occasion, the President of the ISDB, H.E. Dr. Muhammad AI Jasser, congratulated the laureate for his impactful knowledge contributions and wished him success in this various endeavours. Acting Director Generl of IsDB, Dr. Sami Al-Suwailem, also congratulated H.E. Dr. Al Jasser for guiding the Institute towards the successful coordination of the prize.”

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Opinion

Mister Politician, What Will You Be Remembered For?

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By Ayo Oyoze Baje

“Successful leaders cement legacies through enduring policies, institutionalizing reforms and cultivating strong successors” -Quora

In its distilled essence, leadership encapsulates the capacity to identify and highlight the most pressing needs and challenges faced by the led majority of the people, by those placed in positions of authority to do so. And they should be able to actualize the methods and mechanisms to satisfying those needs. That explains the imperative of firmly putting in place structures that would ensure that only the best hands emerge to steer the ship of state, through every possible storm. That of course, is based on their strong moral compass and the capability to navigate it to the harbour of the people’s collective hope.

Such leaders should possess the sterling qualities of vision, and the 6-C principles of character, commitment, consistency, candour, compassion and the courage to do the right thing, not for personal aggrandizement but for the common good, always. That also entails self- sacrifice and brings to bear the importance of the 3-H philosophies of humility, honour and honesty of purpose. Above all these is the unfailing significance of the fear of God, who gives wisdom-which is the principal thing – to guide the leaders right.

With that, a leader be it in the political, educational, economic, religious or traditional aspect of the national life should be guided by the compelling need to sacrifice his ego, whims and caprices to play his statutory functions within the ambit of the law. He would therefore, in his sober moments ask himself the pertinent questions. For instance:” Am I performing my functions as the local government council chairman, state governor, lawmaker, senator or president according to the rule of law? Or, am I perverting the course of justice just to satisfy my own vaulting ambition and to satiate the epicurean taste of my family members and a few chosen friends, all because they supported me to get into power? In fact, what will I be remembered for after my term of office is over”? That is the million naira question. It has to do with the lasting lessons of legacies.

If indeed, a leader spends some time to ask himself about what he would be remembered for, after his term of office expires, or when he is dead and gone citizens of several countries around the world, including Nigeria would not be suffering so much preventable poverty, mass ignorance and avoidable pains. Like it or not, both political and economic powers are transient. Life itself and all we treasure are ephemeral, or call it sheer vanity. So, how would one be remembered by foisting economic hardship with anti-people policies on the millions of the citizens he claims to lead and yet be comfortable in constant chest-beating and self-righteousness?

Worse still, is for a leader to be remembered for the killing spree of hundreds of thousands of the people he led after budgeting billions of naira year after year to curtail the widening wings of insurgency. Call them Boko Haram, ISWAP terrorists, bandits or kidnappers their evil mission all dovetails into instilling fear in the mindset of the people they want to control, extort money from them and eventually waste their precious lives. But believe it or not, the day of reckoning beckons on each and everyone of us. Unfortunately, several of those of us still living have blatantly refused to learn from the dead. Yet, we must! For instance, mention the names of Adolf Hitler, Uganda ‘s Idi Dada Amin, Ethiopia’s Mengistu Haile Mariam, Central Africa’s Bedel Bokassa, Zaire’s Mobutu Sese Seko, Liberia’s Charles Taylor, and Haiti’s Jean Claude ” Baby Doc” Duvalier and the images that come to mind is that of despicable dictators, their disgrace and eventual deaths.

On the flip side of the political coin however, is the mere mention of such noble names as United States’ Abraham Lincoln, United Kingdom ‘s Winston Churchill, Ghana’s Kwame Nkrumah, South Africa ‘s Nelson Mandela and of course, our own Alhaji Tafawa Balewa , Dr.Nnamidi Azikiwe, and Chief Obafemi Awolowo and Umar Yar’,Ardua ( all of blessed memory). They were iconic brands of the struggle for political independence, the enthronement of good governance through pro-people’s free education and economic rejuvenation policies. Admittedly, they were not perfect politicians or individuals but the connecting chord that bound them together was that of sacrificing their ego, whims and caprices to work in the national interest. Even if the present generation of Nigerians cannot remember what played out in the days of the Balewas,Ziks and Awolowos they would gladly eulogize Umar Yar’ Ardua. He it was who did not increase the cost of fuel for once. He ensured that the cost of essential items such as food, transportation,, electricity tariff were affordable. Unfortunately, he did not live long enough to see to the immense benefits of the selfless leadership which he canvassed for and walked the talk!

Going forward, more than ever before we need political role models and bastions of of hope for a brighter Nigeria. But the bitter truth is that such cannot be achieved with the current structure that places so much emphasis on huge money packages, to pay for nomination form at the political party level, humongous salaries and emoluments, the domineering king-servant paradigm of the leaders to the people, with the former wanting to be feared and worshipped as some demi-gods. And the latter praising their so called leaders for projects carried out with public funds as if they were achieved through the political leaders’ personal funds. Much more needs to be done on mass enlightenment of the populace, especially the voters, to know their civic duties and responsibilities.

Now is therefore, the right time for Nigerian politician to be propelled by the laws of lasting legacies, with the catalysts of selfless leadership. Would you be hailed and commended for your achievements while there in government, or booed and castigated for serving the self instead of the state? The choice is yours. And that is because history is always kind to those who made the needed impact and difference on their people while still in service. But it is unkind to those who killed for power, or stole the common patrimony and have their dates with the courts and the anti-graft agencies.The choice of course, is yours to make.

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Opinion

My Top Seven Tips for Success As a New Immigrant in the UK

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By Dr. Dayo Olomu

I had the pleasure of speaking at the Refuge Mortgage Bank “Bridge Initiative Investors Meet”  at the Mercure Hotel in Northampton this past weekend. During my interactions, many attendees sought advice on how to thrive as new immigrants in the UK. Here is what I shared, drawn from my own journey:

1. Master the system, then innovate
Understanding the UK’s structures—be it in business, education, or social norms—is crucial. When I first arrived, I took the time to learn the rules, such as professional etiquette and necessary qualifications. This knowledge helped me reshape my career and advocate for greater inclusion in the workplace.

2. Network with purpose
Success is often not about who you know but how you are known. Join industry bodies and attend events, focus on adding value and building genuine relationships.

3. Turn your differences into strengths
Your unique perspective as an immigrant is an asset. The UK values diverse thinkers, and I have leveraged my global mindset to make a meaningful impact in various sectors. Embrace your background—it can set you apart in a competitive job market.

4. Invest in credibility
The UK respects credentials and measurable impact. Pursue continuous learning and document your achievements. My master’s was earned through rigorous studies while my honorary doctorate was earned through dedication and influence, showcasing the importance of building your professional credibility.

5. Prioritise wellbeing and balance
The fast pace of life here can lead to burnout. As a mental health champion, I make self-care a priority—whether through mindfulness practices or fitness activities like walking 10000 steps every day from Monday to Saturday. Schedule your wellbeing as you would any important meeting.

6. Give to grow
One of my core beliefs is that service opens doors. Giving back is highly valued in the UK.   Volunteering, mentoring, or sharing your skills can help you build a strong reputation and network. My work as a school governor, board member, supporting and raising funds for many charities including my homeless initiatives has been incredibly rewarding and has expanded my connections.

7. Embrace resilience
Remember, rejection is part of the journey. My own story includes countless setbacks, but persistence is key. My 178 awards followed 178 setbacks. Each challenge I faced contributed to my growth and success.

And a quick note for my fellow Arsenal fans: if you can handle the ups and downs of supporting the Gunners, you can handle anything life throws your way. Embrace resilience and keep pushing forward.

I encourage you to view your immigrant story as a superpower. Stay open, stay hungry, and let your unique journey guide you. If I can offer further support or connect you with resources, please feel free to reach out.

#DrDayoOlomu #ImmigrantSuccess #DiversityAndInclusion #Networking #Resilience #Northampton #Arsenal
#RefugeMortgageBank #60LifeLessonForSuccessAndSignificance #TheIconicDDOat60 #DrDayoOlomuat60

Dr Dayo Olomu Chartered MCIPD, FIIM, JP HR Leader|Organisational Development Consultant|Executive Coach|Strategic Adviser|Leadership Expert|Global Speaker|Adviser to the Civic Mayor of Croydon and Member of the Mayoral Charity Board/Trustee|Founder, Dayo Olomu Foundation, UK and Best-Selling Author of THE PREMIUM LEADER: Leadership Attributes and Strategies for Today’s Volatile World

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Opinion

Who Will Tell the President? By Fouad Oki 

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Open Letter to President Bola Tinubu

His Excellency,

Asiwaju Bola Ahmed Tinubu

President of the Federal Republic of Nigeria

The Villa,

Aso Rock,

Three Arms Zone,

Abuja,

FCT

Your Excellency Asiwaju

Who Will Tell the President

(Let Democracy Reign; Let the Will of the People Reign)

I write to you today not merely as a loyal servant of our great nation, but as a concerned citizen, a comrade who has stood by the ideals of democracy, freedom, and justice from the very inception of our struggle. This is not just a letter but a heartfelt call to action. As someone who has walked with you through the struggles for democracy, endured the challenges of political opposition, and shared in the vision of a better Nigeria, I write to you with the utmost sense of duty, respect, and sincerity.

Mr. President, Nigeria is in distress. The people are suffering untold hardship. The streets murmur, the markets groan, and the cries of the masses grow louder by the day. I do not write to flatter you but Nigeria today stands at a critical juncture in its political and socio-economic journey. With the 2027 electoral process already casting its long shadow over our collective consciousness, it is imperative that we pause to assess our current trajectory and the challenges that beset us.

This essay, which I humbly present to you, is an earnest appeal, a call to action for you, the President, to lead courageously and institute bold, pro-poor policies that will fundamentally transform the lives of Nigerians. In this extended discourse, I shall elaborate on several pressing issues: the dire need to reform our reward system within our party, the importance of instituting policies that prioritize the welfare of our most vulnerable citizens, the urgency to overhaul critical sectors such as transportation and health care, and the necessity to reflect upon and learn from our political history.

I implore you, Asiwaju, to consider this an opportunity to reaffirm your commitment to a Nigeria where democracy truly reigns, where the will of the people is paramount, and where every Nigerian, irrespective of their background, can thrive.

I. The Socio-Economic Landscape of Nigeria Today

Our beloved country, Nigeria, a land endowed with abundant resources and a resilient spirit, now finds itself mired in a multitude of challenges. These issues are not merely administrative oversights or the byproduct of political mismanagement, they are symptomatic of deeper, structural problems that have festered over decades. The socio-economic reality that confronts us is one of stark inequality, where a significant portion of the populace lives in conditions that defy the basic tenets of human dignity.

The Plight of the Common Man

The everyday Nigerian is increasingly disillusioned by the persistent hardships that characterize our economic landscape. Inflation, unemployment, and the soaring cost of living have rendered the dream of a prosperous future a distant reality for many. The burden of rising prices, particularly in urban centres such as Lagos, Oyo, Rivers, the Federal Capital Territory (FCT), and Plateau State, has placed undue strain on household budgets. It is against this backdrop of widespread economic distress that I urge you to initiate policies that directly address these issues.

Transport: A Fundamental Right Under Siege

One of the most urgent areas that demand immediate attention is transportation, especially for our children. The very act of getting to school, a right that should be guaranteed to every child has become a financial burden for many families. In our urban centres, where traffic congestion and exorbitant transit fares have become the norm, it is inconceivable that pupils and students should bear the cost of transportation. Education, being the bedrock of national development, must be accessible to all, free from the shackles of financial impediments. I propose that the government implement a robust, pro-poor policy that ensures free or heavily subsidized transportation for all pupils and students, thereby removing one of the significant barriers to quality education.

Health: A Matter of Life and Death

Equally pressing is the matter of health care. The cost of health insurance remains prohibitively high for the average Nigerian family. Imagine a household of six, striving to secure affordable health care amidst a backdrop of rising medical costs, this is a scenario that many Nigerians face daily. It is imperative that the government either drastically subsidizes health insurance premiums or assumes the cost of health coverage for very vulnerable families, ensuring that every citizen has access to quality medical services. A healthy nation is a prosperous nation, and it is incumbent upon us to guarantee that the basic right to health is not a privilege for the few but a guaranteed provision for all.

II. The Political Landscape and the Perils of 2027

Our political environment, though vibrant in its democratic expression, is increasingly being marred by internal strife and factionalism. The looming 2027 elections have, regrettably, become a focal point of distraction, inflaming tensions within our polity. The political arena, rather than being a space for constructive debate and inclusive participation, has devolved into a battleground of egos, self-interest, and sycophancy.

The Electoral Distraction

The constant preoccupation with the 2027 election cycle has led to a climate where short-term political gains are prioritized over the long-term well-being of our nation. It is only you, Mr. President, who possess the authority and the vision to douse these flames before they engulf the entire political landscape. I implore you to rise above the petty infighting and focus on the larger picture, the need for sustainable, transformative change that addresses the core issues facing Nigeria. By doing so, you can redirect the energy of our nation towards nation-building rather than political vendettas.

Reflection on the Journey

As you navigate these turbulent times, I urge you to reflect upon your political journey, the dark days of struggle, the long and arduous fight for democracy, and the sacrifices made in the name of freedom. Recall those moments when the very future of our nation hung in the balance, and the collective will of the people was the only beacon of hope.

Ask yourself: is the current state of affairs truly the culmination of those struggles, or have we lost sight of the ideals that once united us? A period of introspection is not a sign of weakness but a testament to the enduring spirit of leadership that has seen us through our darkest hours.

III. A Call to Action: Pro-Poor Policies and the Need for Bold Leadership

Your Excellency, the challenges before us require more than incremental adjustments, they demand a radical rethinking of how we approach governance. In the spirit of true leadership, it is incumbent upon you to take the bull by the horns and institute a series of pro-poor policies that will lay the foundation for a more equitable society.

Revolutionizing Transportation for Our Youth

As previously mentioned, the issue of transportation is not merely a logistical concern, it is a matter of social justice. Imagine a Nigeria where no child is denied an education because of the prohibitive costs of travel. I propose the establishment of a government-subsidized transportation system dedicated to students, particularly in urban areas such as Lagos, Oyo, Rivers, the FCT, and Plateau. Such a system would not only alleviate the financial burden on families but also serve as a catalyst for improving educational outcomes across the nation. By ensuring that every pupil has access to free or affordable transport, we are investing in the future of Nigeria, a future built on the empowerment of its youth.

Healthcare Reform: Subsidizing Health Insurance

The health of our nation is under siege, with millions of Nigerians struggling to afford even the most basic medical care. I urge you to take decisive steps towards reforming our healthcare system by introducing policies that either significantly reduce the cost of health insurance or, ideally, have it entirely funded by the government for poor families. Consider a model where a family of six is guaranteed access to comprehensive health care without the crippling financial strain that currently characterizes our system. Such a policy would not only improve the quality of life for countless Nigerians but also foster a healthier, more productive society and permanently end quackery in the healthcare sector.

The Imperative of Clean and Transparent Governance

The spectre of mediocrity looms large over our political and administrative systems. It is disheartening to observe that those who once toiled selflessly for the party have, over time, been relegated to the status of mere bystanders, overlooked and undervalued simply because they are “too straight” or lack the patronage of influential godfathers.

I recall, with a heavy heart, your words to me just two years ago in your Asokoro palatial mansion, words that resonated deeply with the promise of change: “We must change our reward system.” Yet, today, that promise appears to have been forgotten, as the old ways of rewarding mediocrity persist unabated.

This entrenched system, where rewards and appointments are dictated not by merit but by sycophancy and lineage, has eroded the very fabric of our party and, by extension, our government. The nomination processes for party offices are a case in point where the offspring of political leaders or the ever-obedient yes-men are favoured over the genuinely competent and dedicated.

This practice has not only alienated the hardworking foot soldiers of our movement but has also driven the vibrant, young members of our party to seek refuge in less principled political establishments. The consequences of this are starkly evident: our loss in the presidential election in Lagos was not a reflection of our inadequacy or unpopularity, but a powerful indictment of a system that has failed to reward true merit.

A Level Playing Field: The Need for a Clean Membership Register

In the spirit of transparency and fairness, it is imperative that we re-examine the very foundation of our party structure. Our membership register, currently touted as boasting 1.4 million members in Lagos State, is nothing more than a fallacious figure that belies the actual turnout less than 600,000, as evidenced by the 2023 Presidential election results.

For the sake of strategic planning and genuine representation, we must establish a clean, accurate, and empirically verifiable membership register. This register should serve as the cornerstone of our democratic process, ensuring that every vote, every voice, is accounted for and that our planning is grounded in reality rather than inflated assumptions.

Leadership from the Front: Embracing Inclusivity, Empathy, Forgiveness, and Justice

Asiwaju, the mantle of leadership rests upon your shoulders, and it is time to lead from the front once again. Now more than ever, Nigeria needs a President who embodies the virtues of inclusivity, empathy, forgiveness, and justice. In a political landscape often tarnished by self-serving ambitions and hollow praise, your strength and integrity stand as beacons of hope for your true friends, associates, and the foot soldiers of our party.

There is no enemy among your followers, political associates and colleagues, only those whose interests lie in self-aggrandizement and sycophancy. It is imperative that you distinguish between the two, celebrating and empowering those who have truly dedicated themselves to the service of our nation.

I urge you to consider convening a congress or an assembly of all your friends, associates, and counsellors, a forum where honest reflection can take place. In this assembly, let us collectively seek the face of God, asking for divine guidance and wisdom to navigate the challenges that lie ahead. As the scriptures in the Lord’s Prayer remind us, “forgive us our trespasses as we forgive those who trespass against us.” Likewise, the Quran implores us with the word “astagfirullah” a call to seek forgiveness.

In the same spirit, I beseech you to forgive those who may have crossed your path, recognizing that none among us are infallible so that those that you have wronged can also forgive you. It is through forgiveness that we can truly heal the wounds of the past and chart a course towards a more just and equitable future.

IV. Reflecting on the Past to Forge a Better Future

Your Excellency, as you stand at the helm of our great nation, I invite you to look back on your political journey, a journey marked by struggle, sacrifice, and the unyielding pursuit of democracy and freedom. There was a time when the future of Nigeria hung precariously in the balance, and the sacrifices of countless patriots paved the way for the democratic state we now inhabit. Those were dark days, indeed, but they were also the crucible in which our collective resolve was forged.

The Dark Days of Our Struggle

I vividly recall the days when the price of freedom was measured in blood and tears, when the clamour for democracy was met with ruthless oppression. The sacrifices made by our forebears are not mere historical footnotes, they are the very foundation upon which our current democratic edifice stands. As you reflect on those turbulent times, ask yourself whether the current state of our nation is the true legacy of those struggles. Have we, in our complacency, allowed the hard-won fruits of our labour to wither on the vine? Or is it time to reinvigorate our commitment to the ideals that once galvanized our movement?

A Personal Appeal: Remembering Our Conversation

I would be remiss if I did not remind you of a conversation, we had exactly two years ago in your Asokoro palatial mansion, a moment that has since been etched in my memory. In that intimate setting, with just the two of us present, you spoke with conviction about the urgent need to “change our reward system.” Those words resonated with the promise of a new era, one where merit and dedication would be rewarded rather than mere loyalty and sycophancy. Yet today, I am compelled to confess that I am dismayed to witness little more than a perpetuation of the old ways, a reward system that continues to favour mediocrity and patronage over genuine excellence.

It is not that those who sacrificed everything for the party are undeserving of recognition, they are, in fact, the unsung heroes of our struggle. They are the foot soldiers who, despite their unwavering commitment, find themselves marginalized simply because they are “too straight” or lack the influential godfathers that seem to dictate success in our political landscape. This, Jagaban, is a travesty that not only undermines the spirit of our movement but also endangers the future of our party and, by extension, the destiny of our nation.

The Cost of Ingratitude

The recent electoral debacle in Lagos, which was not a manifestation of our weakness or unpopularity but rather a reflection of the deep-seated discontent among our ranks, serves as a cautionary tale. The aggrieved, depressed, and disillusioned members of our party have made their voices heard in the most consequential manner possible by delivering a defeat that should have never been possible if our internal structures were robust and genuinely meritocratic. If we can lose an election in Lagos in 2023 because of these internal fractures, then the stakes for 2027 are alarmingly high. It is incumbent upon you, as the leader, to correct these wrongs and steer our collective energies towards a future where excellence is rewarded, and every Nigerian is given a fair chance to contribute to nation-building.

V. Proposals for a New Direction

The time has come for a paradigm shift, a reimagining of our policies and practices that places the well-being of the Nigerian people at the forefront. The proposals outlined below are designed to serve as a roadmap for the transformation that our nation so desperately requires.

Transforming the Educational Transportation System

a. Policy Framework:

Develop a comprehensive policy that guarantees free or subsidized transportation for all pupils and students. This initiative should focus primarily on urban centres where the cost of travel is prohibitively high, ensuring that education remains accessible regardless of a family’s financial standing.

b. Implementation Strategy:

Partner with state governments, local governments, local transport unions, and private sector stakeholders to establish a sustainable and efficient transportation network. This network should be designed to cover key urban areas such as Lagos, Oyo, Rivers, the FCT, and Plateau, with dedicated routes and schedules tailored to the academic calendar.

c. Monitoring and Evaluation:

Establish a robust oversight mechanism to ensure that the policy is effectively implemented. Regular audits and performance assessments should be conducted, with feedback loops that allow for continuous improvement. Data collected from these evaluations should inform future policy adjustments, ensuring that the system remains responsive to the needs of its beneficiaries.

Reforming Health Insurance Policies

a. Subsidization and Government Funding:

Introduce measures to drastically reduce the cost of health insurance premiums for Nigerian families particularly the very vulnerable one living below poverty lines. Ideally, the government should consider fully subsidizing health insurance for families, particularly those with six or more members, thereby ensuring that quality health care is not a privilege but a guaranteed right.

b. Public-Private Partnerships:

Foster partnerships with reputable private insurers to create a competitive yet fair health insurance market. Such collaborations can help streamline the costs and improve service delivery, making health care more accessible and affordable.

c. Universal Health Coverage Roadmap:

Develop a phased roadmap toward universal health coverage that prioritizes the most vulnerable segments of society. This roadmap should include targeted interventions for rural and underserved communities, ensuring that no Nigerian is left behind in our quest for better health outcomes.

Revamping the Party’s Reward and Nomination System

a. Merit-based Appointments:

Reevaluate the existing reward system within our party to ensure that appointments and promotions are based on merit rather than mere patronage or familial connections. This will require a thorough audit of current practices and the development of transparent criteria that prioritize competence, dedication, and proven performance.

b. Inclusivity and Transparency:

Establish a clean, verifiable membership register that accurately reflects the true strength of our party. Such a register should be maintained with the utmost transparency and updated regularly to ensure its credibility. This will serve as a crucial tool for planning and for ensuring that every member’s voice is heard during internal elections and decision-making processes.

c. Empowering the Grassroots:

Create avenues for meaningful participation by the grassroots members of our party. Their insights, energy, and dedication are invaluable assets that should not be sidelined by an entrenched system of sycophancy. Empower these members through capacity-building initiatives, mentoring programmes, and clear pathways to leadership positions.

Ensuring Accountability and Reducing Political Distractions

a. Focus on Governance Over Partisanship:

Shift the focus of our political discourse from partisan bickering to genuine governance. The looming 2027 election must not serve as a distraction that derails our progress. Instead, it should be viewed as a call to action, an opportunity to build a stronger, more resilient political system that is prepared to meet the challenges of the future.

b. Institutional Reforms:

Consider establishing an independent oversight body within the party that monitors internal processes, ensuring that appointments, nominations, and policy implementations adhere to the highest standards of integrity and fairness. Such an institution could serve as a bulwark against the corrosive influence of self-serving agendas and ensure that the party remains true to its founding principles.

c. A Call for Unity:

In these trying times, unity within our ranks is more important than ever. I appeal to you, Asiwaju, to set aside differences and forge a path that is inclusive and just. By fostering an environment where every voice is valued, you can rebuild the trust and solidarity that are essential for our collective success.

VI. Reflections on Our Political Journey

Your Excellency, as you contemplate the path forward, I urge you to reflect deeply on the long and arduous journey that has brought us to this point. Our struggles for democracy and freedom were not for personal gain, they were for the establishment of a society where every Nigerian could live with dignity and opportunity.

Lessons from the Past

The dark days of our struggle serve as a powerful reminder of the sacrifices made by countless heroes. These sacrifices were not in vain; they were the building blocks of the Nigeria we have today. Yet, as we celebrate our achievements, we must also acknowledge the gaps that remain and the urgent need to address them. The current state of affairs should compel us to revisit the principles of accountability, transparency, and meritocracy that were once the hallmarks of our movement.

The Imperative of Change

The call to “change our reward system” that you issued two years ago was a visionary one, a call for a new era where the contributions of every party member are recognized and rewarded fairly.

However, the persistence of outdated practices that favour mediocrity and patronage is a stark reminder that promises, no matter how well-intentioned, must be followed by concrete action. The time for change is now. It is incumbent upon you, as the leader of our party and our nation, to break away from the entrenched practices of the past and embrace a future defined by fairness and opportunity for all.

The Cost of Complacency

Let us not forget that the current state of discontent among our ranks is not merely a symptom of isolated grievances, it is a reflection of a broader malaise that threatens the very fabric of our democracy. The disillusionment of our foot soldiers, the sidelining of those who are “too straight” to engage in the traditional politics of patronage, and the marginalization of young, dynamic voices have all contributed to the challenges we face today. These are not minor issues; they are indicative of a system that has lost its way. Your leadership is needed now more than ever to realign our priorities and reinvigorate our commitment to the values that once defined our movement.

VII. An Appeal for Forgiveness and Reconciliation

In the midst of these challenges, I also call upon you to exercise the virtues of forgiveness and reconciliation. The path to a better Nigeria is not paved solely with policies and reforms, it is also built on the human capacity to forgive and to learn from our mistakes.

The Call to Forgive

As we draw inspiration from the words of the Lord’s Prayer “Forgive us our trespasses as we forgive those who trespass against us” and the solemn invocation in the Quran, “astagfirullah,” I implore you to extend forgiveness to those who may have wronged you along the way and those that you have wronged. None of us are infallible, and in the pursuit of our noble goals, misunderstandings and missteps are inevitable. Embracing forgiveness is not a sign of weakness; rather, it is a powerful affirmation of your strength and commitment to the greater good.

Healing Old Wounds

Our journey has been marred by divisions and betrayals, but it is time to heal these old wounds. I urge you to reach out to those who, in the past, may have crossed your path or whose actions have inadvertently contributed to the current discontent. By fostering an atmosphere of reconciliation, you can galvanize support from every corner of our party and rebuild the trust that is essential for any meaningful reform. Let this be a moment of transformation, a time when old grievances are laid to rest, and we all unite under the banner of a renewed, inclusive Nigeria.

VIII. The Way Forward: A Blueprint for National Renewal

Jagaban, the challenges we face are formidable, but they are not insurmountable. With visionary leadership and a steadfast commitment to the welfare of the Nigerian people, we can overcome the obstacles that stand in our way. The blueprint for national renewal that I propose is rooted in principles of fairness, transparency, and genuine concern for the well-being of every citizen.

Economic Empowerment and Social Justice

At the heart of our socio-economic challenges lies the need for robust policies that empower the most vulnerable members of our society. Economic empowerment is not merely about increasing GDP, it is about creating an environment where every Nigerian has the opportunity to prosper.

This involves investing in education, healthcare, and infrastructure, as well as creating a regulatory framework that supports small and medium-sized enterprises (SMEs) and fosters innovation. By addressing these foundational issues, we can create a more equitable society where opportunity is not the privilege of a few but the birthright of all.

Institutional Reforms and Accountability

A critical element of this blueprint is the overhaul of our institutional frameworks. This includes reforming the reward and nomination systems within our party to ensure that appointments are based on merit rather than favouritism.

Transparency must become the cornerstone of our governance, with robust systems in place to monitor and evaluate performance at all levels from the federal to the local government. Such reforms will not only restore confidence among party members but will also send a powerful message to the Nigerian people that we are committed to building a government that is accountable and just.

Strengthening the Social Contract

Our nation is built on a social contract between the government and the governed, a contract that has, over time, been eroded by unmet expectations and unfulfilled promises. It is imperative that we renew this contract through tangible actions that address the fundamental needs of the populace. Policies that ensure free or affordable education, subsidized health care, and accessible transportation are not mere concessions; they are investments in the human capital that is the bedrock of Nigeria’s future. By fulfilling these basic promises, we reaffirm the trust of the people and lay the groundwork for sustainable development.

Building a Culture of Inclusivity

The future of Nigeria depends on our ability to harness the collective strength of our diverse citizenry. This means fostering a culture of inclusivity where every voice regardless of age, background, or political affiliation is heard and valued. Your leadership, Your Excellency, is pivotal in championing this cause. By opening the channels of communication, involving grassroots members in decision-making, and establishing forums for open dialogue, you can build a more unified and resilient nation. Such inclusivity is not only a moral imperative; it is a practical necessity for navigating the complex challenges of our times.

IX. A Personal Plea from a Loyal Comrade

Mr. President, my words come to you from a place of deep personal concern and unwavering loyalty. I have witnessed firsthand the trials and tribulations of our political journey from the blood-soaked struggles of our past to the challenges we face today. I have seen the passion of young Nigerians, the dedication of our grassroots workers, and the spirit of resilience that has always defined our people. It is with this background that I earnestly appeal to you to reflect on the weight of your responsibilities.

I recall, with both pride and a tinge of sorrow, our conversation two years ago in your Asokoro palatial mansion. In that quiet, private setting of just the two of us, you spoke of the need for transformation, of changing the reward system that had, for too long, stifled the genuine talent within our ranks. Your words, full of hope and promise, stirred my soul then and they resonate with even greater urgency today. Yet, as I observe the current state of our party and the broader political landscape, I am dismayed to find that the changes we so desperately need have not materialized. Instead, the old ways of patronage, mediocrity, and sycophancy continue to prevail.

I am deeply troubled by the fact that those who have given everything to secure victory for our party, those true foot soldiers who have bled and sacrificed in the cause of democracy are now being relegated to the sidelines.

They are dismissed not for a lack of ability or commitment, but because they are “too straight” or do not possess the requisite connections. This betrayal of trust, this perversion of our reward system, has sown seeds of disillusionment and despair among our ranks. It is no wonder, then, that we witnessed a stunning defeat in Lagos, not as a consequence of weakness, but as a powerful manifestation of the dissatisfaction of our own members.

X. The Urgency of Leadership and the Imperative to Act Now

Your Excellency, we stand at a crossroads. The challenges before us are enormous, but they are not insurmountable if we act with resolve and integrity. I implore you to seize this moment, to demonstrate that true leadership is not defined by the ease of the path but by the courage to confront adversity head-on. The distractions of the 2027 elections, the discontent within our party, and the socio-economic hardships faced by millions of Nigerians are all pressing issues that require immediate and decisive action.

A Call for Courageous Leadership

It is only you, Mr. President, who have the authority, the experience, and the moral fortitude to steer this nation away from the precipice of disillusionment. I call on you to take bold, courageous steps that prioritize the welfare of the people over narrow political expediencies. Embrace the mantle of true leadership by enacting policies that are both transformative and inclusive, a leadership that does not shy away from making difficult decisions, even if they challenge established norms.

Restoring Faith in Our Political System

The current state of our party and government is a reflection of a broader malaise, a malaise that can only be cured by a recommitment to the core values of democracy, transparency, and accountability. Rebuild the trust of the Nigerian people by demonstrating, through your actions, that our government is not beholden to self-serving interests but is dedicated to the service of the nation. This is not merely a political imperative; it is a moral duty that you have long championed.

A Vision for a Better Tomorrow

Envision a Nigeria where every child has access to education without the burden of transport costs, where every family can afford quality health care without the looming spectre of financial ruin, and where the corridors of power are open to those who have dedicated their lives to the service of the people. This vision is not utopian, it is a practical, achievable goal that can be realized if we harness our collective will and act with unwavering determination. Your leadership is the beacon that can guide us towards this brighter future.

XI. Concluding

Reflections and a Final Appeal

As I bring this lengthy exposition to a close, I am mindful that the words I offer are not merely a critique but a heartfelt plea from one patriot to another. Our nation is at a critical moment, and the choices we make today will reverberate through the generations to come. I stand with you, Mr. President, in the belief that together we can overcome the obstacles that have long hindered Nigeria’s progress.

I ask you to revisit the promises you made to yourself, to your loyal comrades, and to the Nigerian people when you vowed to change the reward system and to build a government that truly serves the interests of all its citizens. Reflect on the sacrifices of the past, recognize the discontent that festers among those who have laboured tirelessly for our cause, and take the bold steps necessary to restore faith in our collective future.

Your Excellency, the time for complacency has passed. It is now the moment to lead with conviction, to embrace policies that uplift the marginalized, and to chart a course that is defined by justice, inclusivity, and genuine meritocracy. Convene your friends, your associates, your counsellors, and even those who have long been sidelined, bring them together in a congress or assembly where honest dialogue and reflection can take place.

Let us, in unity, seek the face of God for guidance, wisdom, and the strength to overcome our challenges.

This is not the time for partisanship or petty squabbles; it is the time for national renewal. The Nigerian people deserve nothing less than a government that is truly committed to their welfare, a government that listens, acts, and transforms the aspirations of millions into tangible reality.

Final Thoughts

In closing, allow me to reiterate my deepest respect and admiration for you, Mr. President. I write these words with profound love for our country and with a steadfast belief in your capacity to lead Nigeria into a new era of prosperity and justice. The journey ahead is fraught with challenges, but I am convinced that with your visionary leadership, we can and will overcome them.

Who Will Tell the President?

This essay is titled Who Will Tell the President? because the truths contained in it are what many would rather avoid. But as your brother, your loyalist, and your confidant, I cannot stay silent.

Mr. President, the nation looks to you.

The burden is heavy, but so is the trust reposed in you by the millions who believe in your vision. Let democracy reign; let the will of the people prevail. Let us right the wrongs, restore faith, and build a Nigeria where every citizen regardless of background has a fair shot at a better life.

I trust that you will take these reflections to heart and that, in the days to come, you will initiate the critical reforms that our nation so desperately needs. Again Asiwaju, Let democracy reign and let the will of the people be the guiding star of our endeavours. I remain, as ever, a loyal comrade and a fervent believer in the promise of a better Nigeria.

Ogboni Fouad Oki

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