A letter from Dublin to Sanusi Lamido

Written By Akeem Adebayo (Published in the Nigerian Guardian 26th August 2009)

SIR: There was no crisis in the Nigerian banking industry before Friday, August 14, 2009, as none of the banks had failed to meet its obligations to its depositors. This crisis was imposed on it.

What we are witnessing is a campaign of propaganda by the Central Bank with the intention to forcefully change the ownership structure of Nigerian banks.

Please note the following points:

Why hurry to wield the axe, when the audit has not been conducted in all Nigerian banks to enable Sanusi gain a comprehensive picture of the situation in the industry? The weakest bank in Nigeria, Unity Bank, has not even been audited. Soludo’s CBN granted N70 billion to Unity last year without sacking its CEO or management.

The debtors’ list has proved to be sheer propaganda as the loans are mostly actually performing.

Why did Sanusi not publish debts owed by government ministries, agencies and parastatals? They are actually the biggest and most notorious debtors – either directly or through contractors who handle public project. For example, Transcorp is owing Union Bank N41 billion, but the government is yet to refund the purchase price of NITEL to the company after the Federal Government reversed the privatisation of the telecom company this year. Another important group of bank debtors are the importers of petroleum products. They say the government is owing them nearly N100 billion in subsidy reimbursement. So, this means that if the government that wants to rescue the banks fulfills its responsibility to those it is owing, the problems of the banks will be much lighter.

Why did Sanusi not invite the boards of the audited banks to show them the results of the so-called audit and them how they think they could solve the identified problems; for example, giving them a deadline to recapitalise? The practice all over the world is to fist demand that the existing shareholders meet the capital adequacy requirement. It is only where they are not able to raise the required capital that forced intervention by the regulators takes place.

Imagine that Sanusi is already saying he would like to sell the banks! After only one week of taking them over? That would be a world record in Central Bank intervention.
I advise Nigerians to learn a thing or two about Mr. Lamido Sanusi by reading the articles he wrote in the recent past. Please check. Then you will know where this man is coming from.

The CBN’s powers of intervention are to enable the government protect depositors and creditors of banks. The laws are not meant to enable the government do what it is presently doing: confiscating the legitimate properties of citizens. The schemers at play want to confiscate these banks from their rightful owners and award them to members of their ethnic group, the Fulani. Curiously, the EFCC is now going after the banks’ chiefs. This is a strategy to intimidate them into submission. What has the EFCC got to do with bank loans? Loan default is not a criminal offence in any legal system. This is all propaganda.

IAAF versus CASTER SEMENYA: It is pure Racism!

By Adeola Aderounmu

IAAF can go ahead to test Semenya Caster just because she is an African woman. This is pure racism and absolute discrimination even if they come up with one or two indications of elements of masculinity.

Caster Semenya (from www.bbc.co.uk)

Caster Semenya (from http://www.bbc.co.uk)

Does the IAAF have the courage to test all the muscular Jamaican, American, German, British and even Russian girls? No! We have not heard that they are doing all these elaborate, sensitive and intensive tests on any other woman/ girl from other countries or continent.

So, it is only an African that can serve as the laboratory “rat” of the IAAF? This is absolutely ridiculous. It is an insult to African women all over the world. IAAF is now going to set a standard of what a woman should look like, run like, dress like, react like and develop like.

Female athlete should now be IAAF factors-compliant.

I was so pissed off by the other competitors who complained about Caster Semenya. They can only make this useless complains because she is African I supposed.

Hopefully Semenya will come out clean and I hope by then she can give IAAF back their medals because this one has been made worthless.

10 Reasons Why Yar’ Adua Should Resign..!

By Adeola Aderounmu

Yar’ Adua continues to receive treatment for his ailments overseas. No excuse will be enough to justify why a man who ruled a state for 8 years and a wealthy country like Nigeria for 2 years cannot build a state of the art hospital in Katsina or Abuja so that he can have direct access to medical treatment.

It is not impossible that the frequent treatment that Yar Adua is receiving overseas might be gulping millions of naira each time. Tax payers’ money so recklessly spent is inhuman and wicked. If the ruler of a country travels abroad to receive treatment, what is the fate of the helpless poor masses? What is the fate of Nigerian children, pregnant women and the elderly? This shame is unbearable for the normal people in Nigeria, Umaru should resign!

It must be repeated as often as necessary that Yar’ Adua was not elected. That he admitted it is not enough. He has a moral obligation to let go of what he got illegally and against the wish of the Nigerian people. If Yar’ Adua is a normal human being or an educated graduate that we are told he is, then he should know that acquisition of power by falsehood is a depiction of daftness. The knowledge of books or letters does not translate to intellectualism. Only thieves claim things by falsehood, lying and stealing.

One of the rare moments when Yar’ Adua made good a promise was when he set up the panel that examined the electoral process in Nigeria. But like the dictators before him, he has decided not to abide by all the recommendations of the Electoral Committee. Political analysts asserted that the National Assembly can actually adopt the entire recommendations. Those lazy crooks! However the struggle for the actualisation of those recommendations has been sustained by Pro-Democratic groups and the NLC. Causing Nigerians these unnecessary pains and agonies is enough for the clueless idle dude in Aso Rock to return to his village.

Yar’ Adua and his gang have refused and failed to grant all Nigerians a fair chance to attain their fullest potential. The Nigerian Education system today is a complete disaster. The entire blame is not on this lazy government but the fact that after 2 wasteful and destructive years in power they never came up with reasonable steps or attempts to prevent the deterioration in the sector. Most of the unscrupulous politicians and government officials have given their own children the best of education in Nigerian private schools and also at colleges and universities abroad. This is unfair and the man who oversees a failed system should give way, immediately.

In a previous article, I have discussed the scam called vision 20-2020 and the fake 7-point agenda. Yar’ Adua is a liar. What can he point to after 2 years that shows that Nigeria will be a strong economy in 2020? If he decides to go all the way to 2011 Yar’ Adua has a limited time left to show what bravery is all about. Let him try to round off all his former colleagues who stole from the coffers of government when they served as state governors. He should bring them and other crooks in government to justice as a genuine first step towards 20-2020. In the absence of such a sincere commitment, Yar’ Adua should immediately stop the 419, 7p agenda/vision 20-2020 and return to Katsina.

Yar Adua has intimidated and bullied some jelly-hearted governors into the PDP fold. That is Yar Adua’s way of deepening Nigeria’s democracy. Bringing everyone into PDP with a promise for automatic selection in 2011 is Yar Adua’s way of restructuring government’s staff. Seriously the inefficiency and sourness of this illegal administration are extremely disgusting. Yar Adua should return to his village before Nigeria tops the list of failed states. We are getting there too quickly.

Yar’Adua has failed woefully in the area of infrastructure. Where is the mass transportation that he promised 2 years ago? Where are the railroads? Where are the jobs? Yar’Adua promised a dramatic development in power generation, transmission and distribution. Indeed the development has been more than dramatic? Who would have thought that Nigeria will be envelope in total eclipse of darkness by 6pm each day? There is nothing wrong if the man under whose notorious command electricity became a relic in Nigeria is also shown the way out by people power. Are Nigerians not tired of Yar’ Adua?

Yar’Adua committed genocide in the Niger Delta because he had no single clue on how the lingering crisis can be resolved. Out of shame and in one of the most fascinating ironies of modern history he declared amnesty to the winning party. Peace in the Niger Delta demands a holistic approach. The starting point will be the trial of Obasanjo and Yar Adua for acts of genocides. The continuation will be the prosecution of all the past and present looters who called themselves Niger Delta Governors or South-South Governors.

The sincerity of a legitimate government working hand-in-hand with disciplined oil industries in the Delta will bring a permanent solution to the Niger Delta through the application of justice and fairness in all dealings. Pertinent issues relating to environmental degradation, general pollution, health care, employment opportunities and provision of social amenities/infrastructure cannot be compromised, not even by a fake amnesty. It’s simple logic: no justice, no peace!

By way of repetition Yar’ Adua lied when he said that he will intensify the war against corruption. Mrs. Clinton was blunt when she said that in the last 2 years the anticorruption agency is dead in Nigeria. This is the handiwork of Yar’Adua. He succumbed to pressure to appoint a stooge for the corrupt governors who worked under Obasanjo. By so doing Yar’Adua totally killed the anticorruption war in Nigeria. Farida Waziri is product of maladministration and evil connivance. By refusing to fight corruption from the top Yar’Adua accelerated the spread of poverty in Nigeria. No meaningful impact will be felt on the economy by witch-hunting or titbit war on corruption by using certain out-of-favour persons as victims. The missing word in the fight against corruption is TOTAL.

The failed PDP government said Mrs. Clinton was misinformed when she declared that Nigeria has a leadership problem. PDP also said that Hilary’s comments about the EFCC are out of place. For making this type of foolish comments, the National Publicity Secretary of PDP Rufai Ahmed Alkali is one of the greatest enemies of Nigeria and should be avoided like a plague. As a Nigerian, I want to state categorically that I don’t need a Mrs. Clinton to know that Nigeria has no leaders. Nigeria has a very big leadership problem.

Nigeria’s self appointed leaders are the biggest obstacle to the development of Nigeria. The story goes on and EFCC is a failed institution because all the corrupt politicians in Nigeria under the previous and present dispensations are all free people. PDP as it is today is the most evil organisation on the surface of Africa because of the impact of the attitudes and actions displayed under the PDP banner and the effects on the lives of over 140m black Africans 75% of whom are completely hopeless. Does R.A Alkali not know this before Clinton visited Abuja?

Yar’ Adua promised to be a worthy personal example. Has he done this by travelling overseas every now and then for treatments? Has he been a good example by travelling to Brazil when Nigeria was boiling courtesy of failure of governance which resulted to the rise of Boko Haram? What type of example has Umaru provided by eliminating a whole community in Bayelsa State using the Obasanjo Odi Approach (OOA)? What type of example would make a man stupidly coerce other people into the PDP because of the promise of automatic election victories in 2011? Is that how democracy can develop in Nigeria?

When Yar Adua visited Imo State everything was closed down for his sake, school children were forced to wear uniforms on a Saturday and markets were closed down. These are the hallmarks of dictatorship. Yar’ Adua and individuals of like-traits have no businesses in our quest to build a nation which by 2100 should by among the league of developed countries in the world, if we start the process of change today. To make our dreams come true when our grandchildren start arriving Yar’ Adua should give way now. Delay is dangerous!

Dissecting Mrs. Clinton’s Speech

Dissecting Mrs. Clinton’s Speech

By Adeola Aderounmu


Unlike more than 100m Nigerians who are living in compulsory absolute darkness foisted on them by the vigorless and illegal Yar Adua administration, I watched and listened to the short speech delivered by Mrs. Clinton and I followed the Q & A questions that came after. Keen listeners would not have missed when the US Secretary of State stated that the Yar’Adua’s government is illegitimate..!

My conclusion from watching the session is what I’d always known: nothing positive will happen in Nigerian unless we flush out these bad and corrupt rulers and illegal federal government once and for all. The big question is: how can we achieve this objective?

Just like Mr. Obama’s speech in Ghana there was nothing new about what Mrs. Clinton said. Her speech was titled: Nigeria, towards a new future. She reminded us that we produce 2m barrels of oil a day and that we are the 7th largest producer of crude oil. But she was quick to add that the level of poverty in Nigeria has risen from 46% to 70% over the last 30 years.

Mrs. Clinton blamed Nigeria’s woes on failure of governance at all levels, that is, local, state and federal. According to the US Secretary of States, at all levels of governance in Nigeria, there is corruption and mismanagement. She also mentioned the lack of capacity. I don’t know if I agree with that though. I would rather say the presence of untapped capacity because of one useless federal character that has been used to bring all manners of unknown dudes and nonentities into governance.

She went on to quote the World Bank which had stated that Nigeria has lost over 300 million dollars as a result of corruption over the past 3 decades. But we were once told by Mr. Ribadu that the amount is actually several billions of dollars. Abacha alone stole more than $5 billion and most of that money was re-stolen under Iweala-Obasanjo arrangement. It is unclear how Obasanjo and Iweala could have documented that Abacha’s loots were used for projects that pre-date the recovery of the loot. Who can you trust in Nigeria?

Mrs. Clinton posed a simple question to Nigerian politicians,looters and their agents. These include people like Ibori, Aondoakaa, Yar’ Adua, David Mark, Babangida, Anenih, Igbinedion, Tafa Balogun and Obasanjo just to mention a few looters. Do you know what Nigeria would have done with 300 million dollars? She has some answers: Nigeria could have built hospitals, roads, schools, many children would have attended colleges and several women would not have lost their lives during childbirth.

From my own understanding, Mrs. Clinton mentioned that Yar Adua’s government is illegitimate. She said that the lack of transparency has eroded the legitimacy of the government. It took so long and is almost harmless now but it is better late than never that at least someone is thinking along with me that Nigeria has no legitimate government. She supported her statement by reminding us that Yar Adua admitted that he was fraudulently forced into power.

She urged Nigeria and Nigerians to fix the flawed electoral system and to establish an Independent electoral council. This is an argument that many of us have put forward many times. In one of my article published on the web (as an internet warrior), I mentioned that Iwu is a resident evil in the aisle. If Mr. Iwu stays one week more on his notorious job and as a matter of fact if Nigeria’s INEC is not disbanded to give way to a fresh and independent electoral body Mrs. Clinton would have wasted her time, energy and saliva.

Before 2011 we as Nigerians must join hands as members of the civil societies and groups to demand for the total implementation of the recommendation of the Electoral Committee. Before 2011 we must re-organise our political structures and institutions in such a way that debates, healthy discussions and participation will become the backbones of our political life as it was in the 1920s during the days of Herbert Macaulay. This much was mentioned by one member of the selected audience.

Mrs. Clinton told us something that we already knew was necessary for a free and fair election to hold in Nigeria. She said she learnt from the recommendations of the electoral committee that Nigeria has no Nationwide Voters Registration Process. She is right in a way. Votes are not counted in Nigeria and that is why the mischievous Mr. Iwu can decide the outcomes of elections.

Mrs. Clinton echoed the contents of my first article published in the Nigerian Guardian on September 9 2002 titled: why politicians steal. We must replace officials or politicians if they break the law and if they fail to deliver. She agreed with my opinion that looters, thieves and bad politicians must be brought to courts to face prosecution. She mentioned that that will create a deterrent to prevent future wrong doing. However this is impossible in present day Nigeria. Before we can do this, we must have a true anticorruption fighting organisation, a normal police force and a corruption-free judiciary.

Today’s EFCC is controlled by a very corrupt man called Mr. Ibori and Mrs. Farida Waziri is just a puppet. She is also alleged to be corrupt. In addition, if a Nigerian politician loots 20 million dollars, he can pay EFCC 1 million naira and attend court for 2 months. He is free afterwards. It is called plea-bargaining. EFCC is funny abeg !

With the type of Attorney General that we have, we are in a mess in Nigeria. Mr. Aondoakaa is making a mockery of what is supposed to be another strong arm of democracy-the judiciary. With Mr. Aondoakaa, how can we successfully prosecute the likes of Ibori? With all the corrupt faces scattered across the nation and even at the venue of the meeting, how can we, in the words of Mrs. Clinton, have Trust as the Foundation of our Democracy?

The US secretary of state mentioned that democracy is not perfect anywhere in the world and was quick to mention the stupid excuse that corrupt Nigerians are always ready to refer to in recent years-that even the US has problems with elections. This is connected to the Bush-Al Gore election controversy. She said that democracy is not about elections alone. Any student of politics or political science is aware of the points that would come next. Democracy is also about the judiciary. In Nigeria our judiciary is a cash and carry process. The law is upside down and always in favour of the ruling party and the powerful. It has become a ruse of law.

Democracy is also about the rights of the citizens. Nigerian citizens have no rights! They cannot have the basic things that the state owes them. No light, no water, no good roads, no basic health care and the list go on. Democracy is also about strong democratic institutions. How can we imbibe this in Nigeria where godfathers have already decided the results of the 2011 elections? If only Hilary knew that!

The other day I saw how people were boasting in Anambra State that they will “capture this” “capture that”. The big mouthed local government officials were presented with Mini Buses and probably money with which they will campaign (I hope) and “capture” all the political offices in Anambra. I was worried about the use of the word-capture. So Nigerian public offices are up for capture? Which year are we going to start counting the votes?

Democracy is also about the freedom of the press. In Nigeria today, many opportunists have used The Press to capture government positions and some journalists and media people are also looters today. A lot of misinformation is in the air in Nigeria because of the way politics have been used to manipulate the Nigerian Media. Nowadays many columnists in Nigeria are quick to condemn online analysts and bloggers. It is really a shame what democracy has done to the Nigerian press. Brown envelope syndrome and political jobbing has come to stay.

Democracy, according to Mrs. Clinton, is also about good governance. We knew this already but I guess she is trying to tell Nigerian politicians that they are all bad in terms of governance. Mrs Clinton told the nonentities in Aso rock and elsewhere that oil and aid cannot guarantee success but she was gullible to say that the US supports the (evil and unrealistic) 7 points agenda of an idle mind. Yar Adua is a lazy man who will not deliver one thing in his tenure as illegitimate leader. My bet is on that. How can a man swimming in corruption and surrounded by corrupt people achieve anything? Yar’ Adua lied to Hilary (just the way he lied during his inaugural speech) that he will deliver on roads and electricity. Since when did chicken grow teeth?

The Civil society was challenged to make more use of the political system to encourage a type of politics that will be for common good. With the Nigerian Police that I know, this is an optical mirage. Unless something radical occurs, the civil society and genuine pro-democratic groups will continue to be suppressed.

Mrs. Clinton mentioned some positive things about Nigeria. For example the agency responsible for preventing human trafficking has put Nigeria in a comfortable position among the serious nations fighting the menace. But I wonder how many of our sisters are on their way to Italy and Denmark tonight. Nevertheless we must praise the agency in question because many factors in Nigeria are probably not in favour of the struggle against human trafficking.

Mrs. Clinton said that US can partner Nigeria in many ways citing that she met with Mr. Ojo Maduekwe to discuss a certain bi-national commission, technical assistance and supports in various areas. Is this the US visit Maduekwe bragged about? But I hope Maduekwe was listening when Hilary mentioned India and Indonesia as countries that we can learn from. Is it true that Indonesia had a successful election and that democracy there is about 10 years old? What is our excuse when India can organise a successful election?

Obasanjo reminded us in 2007 that we have always had elections with complains and violence since 1959. So I guess he was pleased that he championed the evil that was perpetrated in 1978, 1999, 2003 and 2007. He must be our National Record Holder.

How can Nigeria have free and fair elections in 2011 when we don’t have an Independent Electoral Commission? Mrs. Clinton said the US can work with Nigeria depending on the way we approach the voter registration process (and of course the intra-party politics). I understood that if we want to computerise the process, the US can assist Nigeria to an extent that will even allow disable people to vote. But if we want to persist with our crude methods, then according to her, the future of Nigeria is in the hands of Nigerians.

Mrs. Clinton said she told Yar Adua why Nigeria is not in the G-20. She said it is because of the impact of corruption on our system and economy. She said it was also because in Nigeria, wealth is concentrated at the top. What she meant was that Nigerian politicians are thieves, that they are stealing money instead of spreading wealth and helping to build the nation. She said Nigeria is not in the G20 because we have a system where there is no accountability.

Mrs. Clinton expressed her dismay that Nigeria is not electrified despite her oil wealth. “When you think of Nigeria, the oil and the gas, you think it (Nigeria) will be electrified”. Truly corruption has destroyed this country. In Nigeria today Electric Power Supply is not available. I wonder if Nigeria generates up to 100MW as I write this. NEPA gives you a blink-blink at the end of the month and then brings you a monthly bill. By so doing, NEPA is a looting agent. It is pure robbery to do that!

The most positive thing that came with hope from the session was when Mrs. Clinton said that there are loads of Intelligent and hardworking people in Nigeria who are capable of producing good results. She said for 2011, the opportunities and the responsibilities lie in our hands. For me the task is for the intelligent and hardworking people to accept the new opportunities ahead and to face the challenges that will come with the responsibilities on our shoulders.

The time is now to build good foundations for our democratic institutions. Whether we like it or not we must start to construct and build strong democratic institutions. It is the normal or usual way to eliminate strong men or godfathers who have used violence and force to intimidate and relegate us.

Mrs. Clinton’s speech was good but not perfect. We knew all/most of it before. She probably deliberately avoided the Niger Delta debate and her response to a question on the peace process aka fake amnesty does not come across as convincing. Some commentators have condemned the role of the US in the Niger Delta crisis. It is likely that the US along with the UK, is supporting the illegitimate government in Nigeria through arms deal. It is also a common knowledge that the US is more interested in the oil that goes from the Niger Delta to USA than at the nature of governance in Nigeria.

But in a diplomatic world the US as a super power must appear like a good partner and a global lover of the poor masses even if she is doing nothing about the helpless masses as we have seen in recent events across the world. But the deals with the government behind closed doors usually betray the open speeches. Yet several aspects of what Hilary talked about regarding our politics are unfortunately real and true.

Our politicians are wicked and deaf. They may be mentally deranged considering their insatiable lust for wealth acquisition. The saddest thing is that when they wake up the next day after Hilary’s visit is over; it is back to business as usual. Yar Adua will travel to Saudi Arabia because 8 years as governor and 2 years as illegal president were not enough to build one hospital to tackle his ailments.

Maduekwe will ignore Hilary and throw away the notes he made. Ibori will get a contract to import election machines that will be manipulated and pre-programmed by Iwu. By 2011 all the governors (except Fashola perhaps because he said he doesn’t want a 2nd term) will be in PDP and the looting will continue. Head or tail, the Nigerian masses lose. A revolution might be inevitable to achieve some of the dreams of Hilary. Afterall JFK told us many years ago that “Those who make peaceful change impossible make violent change inevitable”

Gaddafi, Stop Killing Nigerians..!

By Adeola Aderounmu

Seriously someone has to talk to Gaddafi straight in the face. With all the killings that have been reported in the past days or weeks Gaddafi should be on his way to the criminal tribunal.

Killing people secretly or after secret trials is unlawful. Stop this mad act.

There are allegations that would-be-immigrants are being rounded up at the desert and taken to Libya for execution. This is not right. It is unlawful

There must be an authority somewhere to call Gaddafi to order and another authority to issue a warrant of arrest on Gaddafi.

I am also calling on the Nigerian Government to take off their garments of corruption and tackle this deadly issue as early as NOW.