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Thursday, 26 February 2015

[Must Read] Buhari’s Speech at Chatham House – Nigeria’s Transition

Permit me to start by thanking Chatham House for the invitation to talk about this important topic at this crucial time. When speaking about Nigeria overseas, I normally prefer to be my country's public relations and marketing officer, extolling her virtues and hoping to attract investments and tourists. But as we all know, Nigeria is now battling with many challenges, and if I refer to them, I do so only to impress on our friends in the United Kingdom that we are quite aware of our shortcomings and are doing our best to address them.

The 2015 general election in Nigeria is generating a lot of interests within and outside the country. This is understandable. Nigeria, Africa's most populous country and largest economy, is at a defining moment, a moment that has great implications beyond the democratic project and beyond the borders of my dear country.

So let me say upfront that the global interest in Nigeria's landmark election is not misplaced at all and indeed should be commended; for this is an election that has serious import for the world. I urge the international community to continue to focus on Nigeria at this very critical moment. Given increasing global linkages, it is in our collective interests that the postponed elections should hold on the rescheduled dates; that they should be free and fair; that their outcomes should be respected by all parties; and that any form of extension, under whichever guise, is unconstitutional and will not be tolerated.

As you all know, I had been a military head of state in Nigeria for twenty months. We intervened because we were unhappy with the state of affairs in our country. We wanted to arrest the drift. Driven by patriotism, influenced by the prevalence and popularity of such drastic measures all over Africa and elsewhere, we fought our way to power. But the global triumph of democracy has shown that another and a preferable path to change is possible. It is an important lesson I have carried with me since, and a lesson that is not lost on the African continent.

In the last two decades, democracy has grown strong roots in Africa. Elections, once so rare, are now so commonplace. As at the time I was a military head of state between 1983 and 1985, only four African countries held regular multi-party elections. But the number of electoral democracies in Africa, according to Freedom House, jumped to 10 in 1992/1993 then to 18 in 1994/1995 and to 24 in 2005/2006. According to the New York Times, 42 of the 48 countries in Sub-Saharan Africa conducted multi-party elections between 1990 and 2002.

The newspaper also reported that between 2000 and 2002, ruling parties in four African countries (Senegal, Mauritius, Ghana and Mali) peacefully handed over power to victorious opposition parties. In addition, the proportion of African countries categorized as not free by Freedom House declined from 59% in 1983 to 35% in 2003. Without doubt, Africa has been part of the current global wave of democratisation.

But the growth of democracy on the continent has been uneven. According to Freedom House, the number of electoral democracies in Africa slipped from 24 in 2007/2008 to 19 in 2011/2012; while the percentage of countries categorised as 'not free' assuming for the sake of argument that we accept their definition of "free" increased from 35% in 2003 to 41% in 2013. Also, there have been some reversals at different times in Burkina Faso, Central African Republic, Cote D'Ivoire, Guinea, Guinea-Bissau, Lesotho, Mali, Madagascar, Mauritania and Togo. We can choose to look at the glass of democracy in Africa as either half full or half empty.

While you can't have representative democracy without elections, it is equally important to look at the quality of the elections and to remember that mere elections do not democracy make. It is globally agreed that democracy is not an event, but a journey. And that the destination of that journey is democratic consolidation – that state where democracy has become so rooted and so routine and widely accepted by all actors.

With this important destination in mind, it is clear that though many African countries now hold regular elections, very few of them have consolidated the practice of democracy. It is important to also state at this point that just as with elections, a consolidated democracy cannot be an end by itself. I will argue that it is not enough to hold a series of elections or even to peacefully alternate power among parties.

Now, let me quickly turn to Nigeria. As you all know, Nigeria's fourth republic is in its 16th year and this general election will be the fifth in a row. This is a major sign of progress for us, given that our first republic lasted five years and three months, the second republic ended after four years and two months and the third republic was a still-birth. However, longevity is not the only reason why everyone is so interested in this election.

The major difference this time around is that for the very first time since transition to civil rule in 1999, the ruling Peoples Democratic Party (PDP) is facing its stiffest opposition so far from our party the All Progressives Congress (APC). We once had about 50 political parties, but with no real competition. Now Nigeria is transitioning from a dominant party system to a competitive electoral polity, which is a major marker on the road to democratic consolidation. As you know, peaceful alternation of power through competitive elections have happened in Ghana, Senegal, Malawi and Mauritius in recent times. The prospects of democratic consolidation in Africa will be further brightened when that eventually happens in Nigeria.

But there are other reasons why Nigerians and the whole world are intensely focussed on this year's elections, chief of which is that the elections are holding in the shadow of huge security, economic and social uncertainties in Africa's most populous country and largest economy. On insecurity, there is a genuine cause for worry, both within and outside Nigeria. Apart from the civil war era, at no other time in our history has Nigeria been this insecure.

Boko Haram has sadly put Nigeria on the terrorism map, killing more than 13,000 of our nationals, displacing millions internally and externally, and at a time holding on to portions of our territory the size of Belgium. What has been consistently lacking is the required leadership in our battle against insurgency. I, as a retired general and a former head of state, have always known about our soldiers: they are capable, well trained, patriotic, brave and always ready to do their duty in the service of our country.

You all can bear witness to the gallant role of our military in Burma, the Democratic Republic of Congo, Sierra Leone, Liberia, Darfur and in many other peacekeeping operations in several parts of the world. But in the matter of this insurgency, our soldiers have neither received the necessary support nor the required incentives to tackle this problem. The government has also failed in any effort towards a multi-dimensional response to this problem leading to a situation in which we have now become dependent on our neighbours to come to our rescue.

Let me assure you that if I am elected president, the world will have no cause to worry about Nigeria as it has had to recently; that Nigeria will return to its stabilising role in West Africa; and that no inch of Nigerian territory will ever be lost to the enemy because we will pay special attention to the welfare of our soldiers in and out of service, we will give them adequate and modern arms and ammunitions to work with, we will improve intelligence gathering and border controls to choke Boko Haram's financial and equipment channels, we will be tough on terrorism and tough on its root causes by initiating a comprehensive economic development plan promoting infrastructural development, job creation, agriculture and industry in the affected areas. We will always act on time and not allow problems to irresponsibly fester, and I, Muhammadu Buhari, will always lead from the front and return Nigeria to its leadership role in regional and international efforts to combat terrorism.

On the economy, the fall in prices of oil has brought our economic and social stress into full relief. After the rebasing exercise in April 2014, Nigeria overtook South Africa as Africa's largest economy. Our GDP is now valued at $510 billion and our economy rated 26th in the world. Also on the bright side, inflation has been kept at single digit for a while and our economy has grown at an average of 7% for about a decade.

But it is more of paper growth, a growth that, on account of mismanagement, profligacy and corruption, has not translated to human development or shared prosperity. A development economist once said three questions should be asked about a country's development: one, what is happening to poverty? Two, what is happening to unemployment? And three, what is happening to inequality?

The answers to these questions in Nigeria show that the current administration has created two economies in one country, a sorry tale of two nations: one economy for a few who have so much in their tiny island of prosperity; and the other economy for the many who have so little in their vast ocean of misery.

In the face of dwindling revenues, a good place to start the repositioning of Nigeria's economy is to swiftly tackle two ills that have ballooned under the present administration: waste and corruption. And in doing this, I will, if elected, lead the way, with the force of personal example.

On corruption, there will be no confusion as to where I stand. Corruption will have no place and the corrupt will not be appointed into my administration. First and foremost, we will plug the holes in the budgetary process. Revenue producing entities such as NNPC and Customs and Excise will have one set of books only. Their revenues will be publicly disclosed and regularly audited. The institutions of state dedicated to fighting corruption will be given independence and prosecutorial authority without political interference.

But I must emphasise that any war waged on corruption should not be misconstrued as settling old scores or a witch-hunt. I'm running for President to lead Nigeria to prosperity and not adversity.

In reforming the economy, we will use savings that arise from blocking these leakages and the proceeds recovered from corruption to fund our party's social investments programmes in education, health, and safety nets such as free school meals for children, emergency public works for unemployed youth and pensions for the elderly.

As a progressive party, we must reform our political economy to unleash the pent-up ingenuity and productivity of the Nigerian people thus freeing them from the curse of poverty. We will run a private sector-led economy but maintain an active role for government through strong regulatory oversight and deliberate interventions and incentives to diversify the base of our economy, strengthen productive sectors, improve the productive capacities of our people and create jobs for our teeming youths.

In short, we will run a functional economy driven by a worldview that sees growth not as an end by itself, but as a tool to create a society that works for all, rich and poor alike. On March 28, Nigeria has a decision to make. To vote for the continuity of failure or to elect progressive change. I believe the people will choose wisely.

In sum, I think that given its strategic importance, Nigeria can trigger a wave of democratic consolidation in Africa. But as a starting point we need to get this critical election right by ensuring that they go ahead, and depriving those who want to scuttle it the benefit of derailing our fledgling democracy. That way, we will all see democracy and democratic consolidation as tools for solving pressing problems in a sustainable way, not as ends in themselves.

Permit me to close this discussion on a personal note. I have heard and read references to me as a former dictator in many respected British newspapers including the well regarded Economist. Let me say without sounding defensive that dictatorship goes with military rule, though some might be less dictatorial than others. I take responsibility for whatever happened under my watch.

I cannot change the past. But I can change the present and the future. So before you is a former military ruler and a converted democrat who is ready to operate under democratic norms and is subjecting himself to the rigours of democratic elections for the fourth time.

You may ask: why is he doing this? This is a question I ask myself all the time too. And here is my humble answer: because the work of making Nigeria great is not yet done, because I still believe that change is possible, this time through the ballot, and most importantly, because I still have the capacity and the passion to dream and work for a Nigeria that will be respected again in the comity of nations and that all Nigerians will be proud of.

I thank you for listening.

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The above was given by General Muhammadu Buhari on the 26th of February, 2015
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Attorney General Adoke Withdraws Anti-PVC Affidavits, Claims They Were Filed Without His Knowledge

The Attorney General and Minister of Justice, Mohammed Bello Adoke, has claimed ignorance of his own affidavit to scuttle the use of Permanent Voter Cards (PVC) in Nigeria's elections by the Independent National Electoral Commission (INEC).

In a press statement on Wednesday in response to the SaharaReporters' story, Mr. Adoke stated that the two affidavits which were filed by his own staff in the Ministry of Justice without his permission, but that he was accepting responsibility for the incident.
In the story, which we published yesterday, we reported that in one of two affidavits aimed at positioning President Goodluck Jonathan to win next month's election, Mr. Adoke argued that if the election was conducted using the cards, the "constitutional right of the many eligible voters would be taken away from them," and that the election "is likely to be unsuccessful if rigid use of the Permanent Voters' Card is carried out."
We also reported that in a second affidavit, Mr. Adoke also argued that "the use of card readers and/or any other machine at the general elections must encourage eligible voters to vote without being deprived in any way."
On Wednesday, Mr. Adoke denied knowledge of the affidavits.
"While, the deponent, (Lawrence Illop) and Messrs Taiwo Abidogun and N.S. Odusola who signed the Written Address in Support of the Counter Affidavit are staff of the Federal Ministry of Justice, I wish to state that the Officers did not avail me the opportunity of perusing or vetting the Affidavit and Written Address before they were filed," he claimed.
He stated that in the Federal Ministry of Justice, the Attorney General is normally availed copies of all court processes prepared in reply to suits against the Office and his opinion first obtained especially in sensitive suits such as the one in question before such processes are filed, but not in the current case.
He further stated that although the Office of the Attorney General of the Federation and the Independent National Electoral Commission are co-defendants in the suit [No. FHC/ABJ/06/15] instituted by the Society For Advancement & Protection of Public Rights seeking the interpretation of sections 77 (2) and 112 of the Constitution of the Federal Republic of Nigeria, 1999 as well as section 9(5) of the Electoral Act, "I wish to categorically state that I was not aware of the contents of the Counter Affidavit deposed to by Lawrence Illop and did not authorize it."
Blaming the officers responsible for not adhering to procedure, Mr. Adoke said he had directed the processes to be withdrawn to enable an appropriate response to be filed to the originating summons.
He announced that a query is to be issued to the officers concerned.

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Sahara Reporters, New York.
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Femi Aribisala: Postponement Of Elections By Six Weeks Is The Final Nail In The Coffin Of APC

I have news for APC stalwarts. You don't win an election in Nigeria by being the champion of social media. You don't win by renting crowds to fill up your rallies. You don't win by putting up your billboards everywhere while tearing down those of your opponents. You don't win by master-minding in the media a false sense of the inevitability of your victory. When you do all this successfully, you simply end up deceiving yourself.

You win elections by mounting an effective ground-game at the grassroots level; designed to bring out the people on Election Day to vote for you. Instead, APC strategy was to stampede the electorate into victory. The design was to proclaim victory even before the election, laying grounds for protests and acrimony in event of defeat.

Attempted coup d'état

The APC blueprint is see-through. Present a new refurbished, suit-wearing and church-visiting Buhari to the electorate chanting a mantra of "change." Give him a Teflon-coated Redeemed pastor as vice-presidential running-mate. Shield him from public scrutiny and debates to hide his weaknesses and absent-mindedness. Gloss over his objectionable past and pedigree. Mount an aggressive image-laundering social media campaign.

So doing, before the PDP and the public would be up to your game, the election would be over. Nigerians would wake up on February 15th to discover to our cost that we had been hoodwinked into handing over power to Buhari and the Tinubu cabal.

The APC mechanism for perfecting this plan entailed bullying the PDP into defeat. In the North, PDP supporters were threatened and harassed. Some quickly packed their bag and baggage and left town. Even Goodluck Jonathan's convoy was stoned by APC "democrats." In Gombe, a suicide bomber paid a courtesy call on the president's campaign rally.

But the killer-punch was to be the disenfranchisement of literally millions of PDP voters. With the complicity of Jega's INEC, APC strongholds were supplied with PVCs: while PDP strongholds were denied them. Ghost-voters came out of the woodwork by their hundreds of thousands in unlikely places like the war-torn North-east to collect their PVCs. However, in peaceful higher-population places like Lagos and Kano, non-indigenes were denied their PVCs, suspected of being likely PDP supporters.

It is telling that, in all the ensuing brouhaha over 23 million people not yet receiving their PVCs seven days to D-Day, APC remained resolute that the election should go ahead nevertheless. This indicates that it knew the missing PVCs belonged disproportionately to PDP supporters.

The denouement

However, the entire strategy of the APC met its Waterloo with the postponement of the election. With the postponement, the Buhari election-train came to a screeching halt. Some have argued that the postponement was a military coup by Jonathan and the PDP. However, a more truthful assessment is that the postponement scuttled the APC plan to win the election by subterfuge.

APC blundered because it refused to entertain the possibility that the election could actually be postponed. As a result, it did not plan for that eventuality. In this gaffe, it was carried away by its own hyperbole. APC big-guns shouted themselves hoarse warning all and sundry that the election must not be postponed, or else. Worse still, they believed their own rhetoric.

APC is used to making threatening noises. It is all stuff and bluster. If it loses, the dogs and the baboons would be soaked in blood. If it loses it would form a parallel government. If the election is postponed, Nigerians would not stand for it. Therefore, it expended all its political and financial capital on a 14th February election. When it finally dawned on it that the election might be postponed, Buhari made an unusual visit to the Council of State to mount a pathetic eleventh-hour resistance.

But alas, the APC was completely outplayed. INEC succumbed to the inevitable and the election was postponed, and for six weeks no less. As a result, the APC stampede came to an end. The orchestrated Buhari momentum came to a screeching halt. Since then, APC pundits have been in shock; scratching their heads because, in all their impetuosity, they had no Plan B.

The APC was banking on the element of surprise. That is now gone with the postponement. It was hoping to win the election by disenfranchising PDP voters. That is no longer possible. It is now confronted with fighting an election it always knew it cannot win because it does not have the appropriate structure on the ground at the grassroots level.

PDP fight back

Sixteen years in power had made the PDP over-confident. It seemed to have been caught unawares by the scripted APC nomination of Buhari and the gimmickry of choosing a Redeemed pastor as his running-mate. As a result, an election that should have been a cake-walk for it suddenly turned into a tight race. Part of this was self-inflicted. PDP had a bad set of primaries; creating considerable dissension within its ranks. Moreover, the PDP was bested in the public relations department; allowing the APC to define the narrative of the election on social media.

Had the election gone on as scheduled on 14th February, it would have been close but Jonathan would still have won. But with six weeks delay, the election will not even be close. Even though it was ebbing discernibly, APC had momentum for the 14th February election. By 28th March, that momentum would have dissipated and disappeared. Even now, the momentum is no longer there. Buhari is in London on a dubious visit. APC has run out of breath.

Make no mistake about it; the six week postponement of the election has effectively crippled the APC. It is no wonder then that the party has been grumbling non-stop. In the meantime, PDP has been able to get a full measure of the APC. Putting all its eggs in the 14th February date, which it insisted cannot and must not be changed; the APC played all its cards. It put all its eggs in one basket. However, PDP held some in reserve, banking on the postponement of the election.

APC's confusion

What happens now? APC is confused. It is stretched for funds. It has lost its mojo, scrambling in panic mode to raise additional 50 billion naira from donors. Speaking to APC stakeholders at the party secretariat in Lagos, Bola Tinubu said: "We have to re-strategise; all of you should go back to your various constituencies starting from tomorrow." This is a belated acknowledgment that the party now likely to win the election is the one best able to mount an aggressive and effective nationwide grassroots campaign.

In that department, the APC is clearly second-best. The party best positioned to mount an effective ground-game and mobilize votes at the grassroots level is the PDP. It has been around for 16 years. PDP local government councillors account for nearly 70 per cent of all councillors in Nigeria, comprising 6,521 members, making it a truly grassroots-based political party. The APC, on the other hand, does not have the nationwide political structure to win the coming election. To date, it is a newspaper and television political party. It has yet to build a formidable grassroots support. It is a JJC party, a little over a year old.

With all the noise about Buhari, it should not be forgotten that the man chronically lacks skills at building political party structures. In the APC presidential primaries, Northern delegates did not even vote for him; preferring instead Kwankwaso and Atiku. He was elected primarily on the strength of ACN votes. PDP strength on the ground everywhere in Nigeria explains why Jonathan was able to win 37% of the vote even in Buhari's home-state of Katsina in the 2011 election.

While APC was busy stoking up the press to create its air of inevitable victory, PDP was busy mobilizing its local government councillors. Its Presidential Campaign Organisation brought all its elected and appointed councillors from all over Nigeria to Abuja to mobilize them to secure victory for the party at the grassroots level. In what was captioned "Operation Deliver Your Ward," Professor Jerry Fans re-fashioned them as political foot-soldiers and grassroots mobilisers for the PDP, split into six groups according to their geopolitical zones.

Resurgent PDP

Since the postponement, Jonathan is no longer the issue. It is once again Buhari; the coup-plotting former dictator and alleged ethnic and religious jingoist. Thanks to the postponement, Nigerians can no longer be panicked into voting for Buhari. We now have enough time to appreciate that he is old, and completely bereft of ideas as to what to do when in power. It is not enough to shout "change, change." The question is: change to what? To this question, Buhari provides a deafening silence.

In the meantime, the true message of Jonathan's considerable achievements in office is now resonating. With the commissioning of new power-plants, we are now generating 5,500 megawatts of electricity: a new Nigerian record. We now know from PricewaterhouseCoopers that the allegation that $20 billion is missing from NNPC accounts is one big fat APC lie. The army is now fully-equipped for battle. For the first time in a long time, the Nigerian air force has come into the fray. The Boko Haram is being bombed to smithereens up North. There is even talk of capturing Abubakar Shekau alive.

Within the next six weeks, all that is left is for the PDP to put its house in order and APC will be toast. Since Buhari has whipped up himself and his supporters into an unrealistic psychological frenzy in this election cycle, it is certain he will end up at the tribunal, when it finally dawns on him that, in spite of all the bluster, he has lost again. The fate awaiting Buhari brings to mind that of Mitt Romney who was so deceived into believing he would be elected America's next president in 2012, he had only a victory speech on election night when he was roundly defeated.

When the history of the 2015 presidential election is finally written, it will be recalled that the postponement of the election for six weeks was the final nail in the coffin of the APC.

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Opinions expressed above are solely those of the author, Femi Aribisala.
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PDP Challenges APC To Admit To Nigerians That Their Manifesto Is False And Unrealistic

The Peoples Democratic Party (PDP) on Wednesday described as lies and unrealistic, the various electoral promises made to Nigerians by the All Progressives Congress (APC) while seeking votes for its presidential candidate, General Muhammadu Buhari.

The ruling party accused the APC of deceiving Nigerians repeatedly in a bid to get votes, saying the APC has formed the habit of "one day, one lie."

Olisa Metuh, National Publicity Secretary of the party, at a press conference held at the party's National Secretariat, said the PDP has performed exceptionally well with its present programmes for the nation, and that the APC can never match what the PDP has done for the nation.

Speaking on the promises being made to Nigerians by the APC, Metuh insisted that the offer of monthly stipend to unemployed youths by the APC in relation to its cost on the finances of the nation was unrealistic and unrealisable.

"The APC in one of its phantom promises said it would pay a stipend of N5,000 each to 25 million poor Nigerians monthly.

"This gives a total of N125 billion each month and N1.5 trillion every year.

"What is baffling is that the APC knows full well that this is not only unrealistic but also impracticable in a nation with an estimated budget of N4.69 trillion comprising recurrent and capital expenditures yet they continue to dish it out to unsuspecting citizens in a clear bid to mislead.

"Also, the deceitful tendency of the APC came to light in its promise to create 740,000 direct jobs in each of the 36 states of the federation and the FCT within one year while on the other hand promising to create one million jobs for Igbo youths also within the same period. We ask, which do we believe?

"The APC has also promised to provide free education, daily free meals for millions of Nigerian school children, free tertiary education, free health care and free houses to Nigerians.

"The opposition knows too well that this is unrealistic yet they prefer to brandish falsehood.

"The APC should explain to Nigerians how they would fulfill their promises with the prevailing 40 per cent drop in national income and dwindling oil price in the international market.

"These promises are therefore either bogus or part of their plot to subject the citizens to a harsh tax regime ostensibly to finance Bourdilon Drive and other personal interests, the real reason they desperately seek power.

"We therefore challenge the APC to come forward and admit before Nigerians that these promises are false and merely deceitful, if not, they should be bold enough to tell Nigerians that they are planning to skyrocket our personal income and company taxes if they ever get to power," he stated.

Metuh insisted that the PDP government is workers' and investors' friendly as the tax regime under its leadership is good for an average Nigerian while warning that the APC would impose terrible tax regime on the people to achieve a minute of its numerous promises, even if it would give it a try at all.

"Under the PDP-led administration, company tax is a maximum of 30 per cent of the profit whereas personal income tax hovers from 1 per cent for minimum wage earners to a maximum of 19 per cent for Nigerians earning up to N100 million.

"Can Nigerians afford a tax regime of 45 per cent company tax and 32 per cent personal income tax?

"Whilst we note the multiple tax regimes in APC states like Lagos State, we believe that Nigerians are not ready to bear the brunt of APC's harsh tax policy.

"If on the other hand APC decides to deny the planned imposition of a harsh tax regime, then they must accept they are guilty of fake campaign promises and deceitful manifesto," he stated.

Listing what he considered as the various lies told to Nigerians by the party, Metuh said
"Nigerians are still shocked at the discovery of the latest international fraud where the APC rehashed an old interview by its Presidential candidate, General Muhammadu Buhari, as a fresh one, all in a bid to cover up a mismanaged international trip.

"This is coming on the heels of another shocking discovery that the APC's claim that its Presidential candidate visited Chibok turned out to be a hoax meant to deceive Nigerians, as he never did," he further stated.


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Reported By Rotimi Akinwumi,
For Daily Independent Newspaper
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The Best Defence For The Naira Is To Make Nigeria An Export-Based Economy —GTI

Economic analysts have stressed the need to grow nation's capacity for exports to prop up the value of the naira, which has remained under pressure since last year.

Analysts at GTI Securities Limited, in a report entitled 'CBN's tactical devaluation of the naira, what next?' said, "The best defence for the naira is to make Nigeria an export-based economy, so that the severe pressure on the local currency as a result of crude oil price volatility can be averted."

In a move to calm the foreign exchange market, the Central Bank of Nigeria had last week closed the Retail and Wholesale Dutch Auction systems. It said the action had become necessary following the sharp disparity between the official exchange rate and interbank rate of the naira, adding that all demand for forex should be channelled to the interbank market.

"By and large, we view the CBN's decision a bold and positive move and expect to see the naira exchange rate fluctuate to its market determined exchange rate level."

The CBN had, at the close of the Monetary Policy Committee meeting of November 25, 2014, devalued the naira and moved the exchange rate from N155/$ to N168/$1 and equally raised the asymmetric band from +/-3 per cent to +/-5 per cent.

The GTI report stated, "At this point, the plausible trading region of the naira to the US dollar in the interbank market was at a lower limit of N160 and upper limit of N176. Unfortunately, the naira closed at N176.20 that day, 20 kobo above the upper limit.

"It appeared that the CBN had kept faith in the belief that the rapid fall in the oil prices which has remained the sole driver of mounting pressure in the forex would likely halt in no distance time.

According to the analysts, this assertion confirmed the unanimous decision by the MPC to maintain universal status-quo in the January's meeting.

They observed that despite the fact that the naira was already high at N189.14 to a US dollar at the interbank market, the CBN's decision to leave the regime unchanged elicited a lot of comments.

They stated, "In our view, this decision of the CBN to scrap the rDAS/wDAS foreign exchange window is a technical way of re-pricing (devaluing) the naira against the US dollar.

"The CBN's particular interest here is to reduce the unavoidable depletion in the external reserves account as a result of continuing uncompetitive trading position of the naira to the US dollar. Note that the external reserves accounts closed on February 13 at $33.66bn, 5.24 per cent lower than end-December 2014 figure of $34.47bn."


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Reported by Femi Asu, for Punch Newspaper
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Fierce Battle: Femi Fani-Kayode Denies Renting Crowd To Boo Buhari In London

Director of Media and Publicity of the Peoples Democratic Party, PDP, Presidential Campaign Organisation, Femi Fani-Kayode, has denied allegation that he has rented a crowd to boo the presidential candidate of the All Progressives Congress, APC, Gen. Muhammadu Buhari (Rted) during his presentation at the Chatham House, London, on Thursday.

He took to micro-blogging site-Twitter to deny the allegation, stating that "My attention has been drawn to a story that I am renting a crowd to embarrass Gen. Buhari at Chatham House later today. It is a lie," via his handle, @realFFK.

Since his appointment by president Goodluck Jonathan, the former APC stalwart has engaged the party and its presidential candidate, Gen. Buhari in a fierce campaign battle.

It will be recalled that the APC alleged on Wednesday that their sources in London disclosed that Fani-Kayode is organizing a paid protest against Gen. Buhari on Thursday when he appears for his Chatham House engagement.

Gen. Buhari also threatened, Wednesday, to back out of the Abuja Peace Accord over what he termed 'repeated thrown tantrums' over his academic qualifications by Fani-Kayode.

Buhari will address Chatham House by 11:00am.

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Reported by Abiodun Alade (@biodunpen) for Vanguard Newspaper
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Wednesday, 25 February 2015

Attempted Jail Break In Calabar Prison Foiled By Men Of The Nigerian Prisons Service

An attempted jail break in Calabar prison, Cross River State, has been foiled by officers and men of the Nigerian Prisons Service (NPS) with the support of the Army and Police Force.

The Controller General of Prisons, Dr. Peter Ekpendu, mni stated that but for the gallantry of the armed men on duty, the mass escape bid would have resulted in a monumental security disaster as over 500 out of the 638 awaiting trial prisoners at the time of the incident, are charged for capital offences such as armed robbery, murder, kidnapping etc.

He further stated that while the Prisons Service is devoted to humane treatment and correction of the inmates, his administration is committed to putting a stop to the wave jail breaks in the country, hence such attempts would never be tolerated.

Recounting the entire event has happened, DCP Enobore O. Francis, Public Relations Officer of the Nigerian Prisons Service, National Headquarters, Abuja, said: "trouble started when on the 20th of February, 2015 at about 1100hrs, two cells housing some awaiting trial prisoners where opened, as a normal routine, for the inmates to take their bath. About four of them walked up to an escort staff to complain that they were tired of staying in the prison awaiting justice and wanted to be taken to court."

"The staff on duty appealed to them to exercise patience for courts to resume seating as they were currently on strike but this fell on deaf ears. Other prisoners soon joined in the agitation to be taken to court and in a spontaneous reaction, pounced on the staff, advanced through the Chief Warders office, destroying all the adjoining doors before gaining access to the gate lodge. They eventually broke into the armoury situated in the gate lodge and collected three riffles, went to the yard and started firing sporadically."

"Warning shots fired by armed men on guard duty outside the perimeter fence did not deter them. The prisoners rather went to the rear of the perimeter fence and fired several shots at the wall to weaken the blocks. Thereafter they used a concrete slab to hit open the weakened wall, making large hole through which they jumped out still firing at anything in sight."

"They were however engaged in a gun battle with the Armed Squad personnel assisted by the Army and Policemen and at the end, 8 of the prisoners died, 17 were injured, 4 staff were also injured with one of them having serious wounds. Others were arrested and returned to the yard. No prisoner escaped and all the riffles were recovered. The situation is now fully under control and normalcy has since returned to the yard."


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Newsbeat Portal, Abuja / PR Nigeria
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EFCC Arraigns One for N6m Online Banking Scam

The Economics and Financial Crimes Commission, EFCC, on Wednesday, February 25, 2015 arraigned one Akpere Ovine Desmond before Justice Abubakar Shitu of the Federal High Court, Warri, Delta State on a 2-count charge bordering on conspiracy and money laundering.

The petitioner had alleged that on May 29, 2012, he received a phone call from one Mr. Taiwo Ogunsanyo who claimed to be a staff of First Bank Nigeria Plc.

According to him, Taiwo claimed the bank was updating customers' security information and requested for his token number, phone number and corporate identity number.

He sent all the details as requested and, to his surprise, he received a debit alert of the withdrawal of the sum of Six Million Naira (N6, 000,000.00) from his company, First Ambition investment Limited's account with First Bank.

A trail of the funds, led investigators to an account (number 2060211484) at the United Bank for Africa Plc (UBA) belonging to one Frank Asemota, from where the money was transferred to different accounts and consequently withdrawn at various ATM terminals.

Akpere Ovine Desmond whose account was flagged was arrested in Access Bank, Benin, Edo State with 44 ATM cards.

Investigation further revealed that the accused person conspired with others to launder the six million naira (N6, 000,000.00) proceed of the scam.

He pleaded not guilty to the charge.
In view of his plea, the prosecution counsel, Adebayo Soares asked for a date for trial but the defence counsel, D.O Afure presented an application for bail of the accused before the court.

Justice Abubakar granted the accused bail in the sum of three million naira( N3,000,000.00) and two sureties in like sum, who must be resident within the Jurisdiction court.

Additionally, one of the sureties must have a landed property with Certificate of Occupancy in Delta State.

The matter was adjourned till April 29, 2015 for trial.

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Courtesy: EFCC / PR Nigeria
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EFCC Press Release: CPC Partners EFCC to Protect Consumers Against Fraud

The Economic and Financial Crimes Commission, EFCC, on Wednesday, February 25, 2015 signed a Memorandum of Understanding with the Consumer Protection Council, CPC to bring fraudulent mortgage, and other scammers of consumers to book.

Executive Chairman of the EFCC, Mr. Ibrahim Lamorde, and the Director General of the CPC, Mrs. Dupe Atoki signed the MoU, which was witnessed by the Director, Legal and Prosecution, EFCC, Mr. Chile Okoroma and the Director, Legal Services, CPC, Emmanuel Ataguba.

Lamorde said, "It is very important that the EFCC partners with the CPC particularly in the areas of intelligence sharing, investigation, prosecution and engaging in campaigns to educate consumers."

He urged the CPC to cooperate with the EFCC in investigating and prosecuting financial crimes and consumer abuse.

He also commended the efforts of the Director General of CPC, adding that her dedication to her work got her awarded US citizenship by the State of Georgia.

Atoki noted that the MoU between the two agencies will "ensure that consumers and victims will receive appropriate redresses, restitution and compensation in a competent court of law."

Atoki stressed the need for joint investigation and enforcement cooperation between the two agencies of government, particularly on matters affecting consumers' economic and financial well-being.

"The collaboration is aimed at protecting consumers and combating scams using a three-pronged approach: Complaint data analysis to establish patterns, trends and hotspots; consumer education and sensitization campaigns across the country, and case investigations, prosecution and redress," she said.

She further disclosed that the two agencies signed a tripartite MoU with the United States, Federal Trade Commission, which was aimed at enforcing the law in cross-border cases.

She thanked the Commission for accepting to partner with the Council in strengthening consumer protection and consumer education.

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Wilson Uwujaren / PR Nigeria
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EFCC Arraigns Six In Court For Crude Oil Theft

The Economic and Financial Crimes Commission, EFCC, on Wednesday February 25, 2015 arraigned six persons in a Federal High Court for Crude Oil Theft.

They are Abu Sunday Smith, Albert Azasu, Lawal Abdul Akinola, Simeon Inatemi John, Sunday Essien, John Fregene.

The six men were arraigned before Justice Abubakar Shitu of the Federal High Court, Warri, Delta State on a 2-count charge bordering on conspiracy and illegal dealing in petroleum Product.

In a statement made available to the press by Wilson Uwujaren, the Head, Media & Publicity of the commission, the men were alleged to siphoned crude oil from an abandoned oil well at Sokobolo community, Warri South Local Government Area of Delta State.

Except of the statement reads: "The Economic and Financial Crimes Commission, EFCC, today February 25, 2015 arraigned Abu Sunday Smith, Albert Azasu, Lawal Abdul Akinola, Simeon Inatemi John, Sunday Essien, John Fregene, and a vessel, MT RAGINA before Justice Abubakar Shitu of the Federal High Court, Warri, Delta State on a 2-count charge bordering on conspiracy and illegal dealing in petroleum Product."

"The vessel and its crew members were arrested sometime in December, 2014 by officers of the Joint Task Force Operation Pulo Shield, at Forcados loaded with 300 metric tons of substance suspected to be crude oil. They are alleged to have been involved in siphoning crude oil from an abandoned oil well at Sokobolo community, Warri South Local Government Area of Delta State."

"They pleaded not guilty to charges.
Justice Abubakar adjourned the matter till March 4, for hearing of bail application, and April 29, 2015 for trial. He ordered that the accused persons be remanded in prison custody."

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Newsbeat Portal, Abuja.
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