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Ekiti Governorship: Factors in favour of Babafemi Ojudu

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6 years ago

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“If we don’t tackle this problem now, help this people out, our children will not be able to visit this place, not to talk of live here in the future.” These were the exact words used by Senator Babafemi Ojudu in a prose elegy he wrote for late Olufunmilayo Adunni Olayinka, who died while serving as deputy to the immediate past governor of Ekiti State, Dr John Kayode Fayemi.

Ojudu titled the elegy ‘Adunni: The journey of an accidental politician’. Though he claimed the words were not his and he credited them to the late deputy governor, who happened to be a native of Ado Ekiti like him, they could as well be described as a retrospection of sort. Due to some characters displayed by Ojudu over time, which people have described as alien to political conducts, it might not be wrong for the Senator and Special Adviser to have on different occasions asked himself why he was venturing into the rough tidal terrain of Nigerian politics. But, again, Senator Ojudu is a resolute fighter, who would not give up on his conviction. He would have consoled himself with the words of the legendary Plato that one of the penalties for refusing to participate in politics is that one ends up being governed by one’s inferiors.

From being a journalist to a human rights activist to a pro-democracy activist to a reformer, then a Senator and currently a Special Adviser to the President of Nigeria on Political Matters, Ojudu’s journey of becoming a politician is a highly inspiring one. Though he is neither an infantile democrat nor a rookie progressive, his venturing into politics must have been informed by the belief that politics was too serious a matter to be left to the politicians. His mindset has always been that whenever the rights of one man are threatened, the rights of every man are diminished. This explains why he has contested and won an election before, and has, as well, been appointed a political adviser. He is well-known for his innovative ideas and initiatives raising revolutionary consciousness in people.

As Ekiti State goes in search of a governor that will right all the wrongs of the incumbent Ayodele Fayose, and as the progressives in the All Progressives Congress jostle for the single ticket, which would serve as the ace, certain factors must notch an aspirant above others. And when one thinks of the character traits that make a good politician like integrity and optimism, Senator Babafemi Ojudu soars shoulder high above the rest aspirants, especially considering the following factors that can just not be overlooked:

History of political activism: Senator Babafemi Ojudu rates very high among those who fought for the return of democracy in Nigeria as currently being enjoyed. Even as a journalist, Ojudu played a very active part in not only reorientating journalists in the country towards emancipation from dictatorship, but confronting the military dictatorship headlong. He was unfairly incarcerated for fighting for the entrenchment of democratic rule in Nigeria. He suffered other forms of persecutions, but his spirit remained non-shattered until democracy was achieved.

Boldness: In everything he does, Ojudu puts boldness into it. Boldness in this contest doesn’t mean being rude, obnoxious, loud, or disrespectful. Rather, Ojudu’s boldness makes him to be firm, sure, confident, fearless, daring, strong, resilient, and not easily intimidated. It means he is ever willing to go where he has never been, willing to try what he has never tried, and willing to trust the team he leads that they will always trust his leadership. Ojudu’s boldness is an honest one, and it comes to him naturally. It is roused by the assurance that he is always doing his best to right the wrongs. For instance, when Babangida said he was interested in running for president in the 2011 democratic elections, Ojudu, yet a journalist, boldly said that the second coming of Babangida to rule the nation should be resisted by every Nigerian who wanted progress for the country. In his words, “Babangida does not have anything good to offer us. We have suffered enough in his hands… He is a trickster. Look at how many journalists were killed during his time. Look at what he did to our colleagues (journalists)… Look at what happened to our institutions when he was around. He destroyed the system and he is now seeking to come back”.

Doggedness: Everyone who has ventured into pursuing a course alongside Ojudu will attest to his doggedness and tenacity. According to Malcolm Gladwell, success is a function of persistence and doggedness and the willingness to work hard for twenty-two minutes to make sense of something that most people would give up on after thirty seconds. That is Babafemi Ojudu for you. He is determined. Even in the face of setbacks, you will find him displaying a high dose of enthusiasm and persistence. His never-say-die spirit is not only legendary but contagious, as he would always encourage those around him never to give up. Ojudu remains the only person within the progressive fold that has beaten Fayose hands down in a political contest. In the April 2011 election for the Ekiti Central Senatorial seat, Ojudu polled 67,747 running on the ACN platform to beat Ayo Fayose, then Labour Party (LP) candidate and former Ekiti State Governor to a distant third with 29,773 votes. This is the only political dent that Fayose has to date, and which has kept him shut from boasting that he is unbeatable in Ekiti politics.

Integrity: Ojudu is straightforward and has come to challenge the assumption that an honest politician is one of those oxymoron that people don’t dare fantasize about. Alongside the first two traits, he displays a high sense of integrity, which may have been his source of boldness. One of the truest tests of integrity is its blunt refusal to be compromised. With integrity, Ojudu has not and cannot be compromised. He has nothing to fear, and he has nothing to hide. His character reads like an open book. Like Bob Marley once observed, the greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.

The Ado Factor: If indeed tyranny of the majority counts as an inherent weakness of direct democracy and majority rule in which the majority of an electorate can and does place its own interests above, and at the expense of, those in the minority, then one would need to take the voting demography of Ekiti, with the domination of Ado Ekiti, serious as the state approaches the next governorship election.

More than 60 people are jostling for the Ekiti governorship seat just in all the political parties fielding candidates. 33 of them are vying for the single slot within the APC. Yet among all of them, only Senator Babafemi Ojudu is contesting from Ado Ekiti, the one-town local government area and state capital, with the highest voting capacity of 180,000. Ikere, which comes next to Ado with 55,000 voting capacity, has the highest number of aspirants for the coveted seat, including Fayose’s deputy and surrogate, Professor Kolapo Olusola Eleka of PDP. Segun Oni is from Ifaki in Ijero Local Government and he has other aspirants to contest with from his LGA. Fayemi, who is from Oye Local Government will be slugging it out with no fewer than five other aspirants from his local government. So are all others, except Ojudu who is standing as the lone runner from Ado Ekiti. This cannot be explained off as a mere coincidence, but as a deliberate attempt by the people of Ado to pack their political strength behind their courageous son, thus may have discouraged any other indigene from pitting against Ojudu.

Apart from these factors that may count in the build up to the 14 July governorship election in Ekiti State, Senator Babafemi Ojudu also has some character traits that should be taken into consideration in determining who the governorship cap fits. They include honesty, intelligence, good instincts, diplomacy, loyalty, passion, team spirit, listening skills and empathy.

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EFCC indicts Sirika, brother in new N19bn fraud

Published

4 days ago

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May 14, 2024

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The Economic and Financial Crimes Commission has charged former Minister of Aviation, Hadi Sirika, his brother, Ahmad Sirika; and his company – Enginos Nigeria Limited, with over N19.4bn fraud.

The sum is said to be for several aviation ministry contracts from the former minister to Enginos Nigeria Limited, owned by Sirika’s younger brother, Abubakar.

The Sirika brothers and Enginos Nigeria Limited will be arraigned before Justice Belgore of the Federal Capital Territory High Court, Garki, Abuja today (Tuesday).

It is the second criminal charge the EFCC will be filing against the ex-aviation minister.

He was last Thursday arraigned for N2.7bn fraud before the High Court of the Federal Capital Territory in Abuja.

Sirika was arraigned on six counts alongside his daughter, Fatimah; brother-in-law, Jalal Hamma, and Al-Buraq Investment Ltd.

The defendants pleaded not guilty while Justice Sylvanus Oriji granted them N100m bail each, with the condition that they must not travel out of the country until the end of the criminal case.

On Monday, EFCC insiders informed The PUNCH that the anti-graft agency had filed a second charge against the ex-minister, bordering on N19.4bn fraud.

In the copy of the fresh charges sighted by our correspondent on Monday, the EFCC alleged that Sirika, “while being the Minister of Aviation, on or about 18th August 2022, in Abuja, within the jurisdiction of this honourable court, did use your position to confer an unfair advantage upon Enginos Nigeria Limited, whose alter ego, Ahmad Abubakar Sirika, is your biological brother, by using your position to influence the award to him, the contract for the construction of a terminal building at Katsina Airport for the sum of N1,345,586,500.00.”

According to the EFCC, Sirika’s alleged action was a violation of Section 19 of the Corrupt Practices and Other Related Offences Act, 2000 and punishable under the same section.

In another count, the EFCC alleged that “on or about 3rd of November, 2022, in Abuja,” Sirika used his position “to confer unfair advantage upon Enginos Nigeria Limited, whose alter ego, Ahmad Abubakar Sirika, is your biological brother, by using your position to influence the award to him, the contract for the establishment of Fire Truck Maintenance and Refurbishment Centre at Katsina Airport for the sum of N3,811,497,685.00.”

In another count, he was accused of corruptly awarding a N615,195,275.00 contract to his brother for the procurement and installation of lift and air conditioners and power generators for the Aviation House in Abuja.

Furthermore, the EFCC alleged that Sirika, between August 2022 and May 2023 in Abuja, “had possession of an aggregate sum of N2,337, 840,674.16, which sum you knew indirectly represented the proceeds of criminal conducts of Hadi Abubakar Sirika, who was the Minister of Aviation at the time.”

It was revealed that the ex-minister’s younger brother, Abubakar, was earlier arrested and detained by the EFCC in connection with N3,212,258,930.18 paid to his company, Enginos Nigerian Limited’s bank account by the former minister.

 

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Nigerian Bank chiefs obtain N549bn insider loans in five years

Published

5 days ago

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May 13, 2024

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Directors and key management personnel of Deposit Money Banks borrowed about N549bn from their financial institutions in five years.

This is according to The PUNCH analysis of the banks’ annual reports filed with the Nigerian Exchange Limited between 2019 and 2023.

However, the banks’ loans and advances to some directors and key management personnel as well as related party transactions dropped significantly in 2023.

These transactions dropped to N52.40bn for eight financial institutions compared to N111.31bn in 2022, indicating a 52.92 per cent decline in one year.

Financial institutions reviewed in the 2023 review include Access Holdings, Guaranty Trust Holding Company Plc, Zenith Bank Plc, United Bank for Africa, Fidelity Bank, Wema Bank, Stanbic IBTC Holding Plc and the FCMB Group.

This decline came amid the release of new corporate governance guidelines by the Central Bank of Nigeria which went into effect August 1, 2023.

In the circular dated July 13, 2023, and signed by Director, Financial Policy and Regulation Department, Chibuzo Efobi, the guidelines which imposed responsibilities on the bank board and the executive compliance officers, supersede other previous codes, circulars and related directives, according to the apex bank.

The CBN guidelines on related party transactions said, “Banks shall establish a policy concerning insider trading and related party transactions by directors, senior executives, and employees, as well as publish the policy or a summary of that policy on their website. 22.2 The policy shall contain appropriate standards and procedures to ensure it is effectively implemented. 22.3 In addition to the requirements in Section 22.2, there shall be an internal review mechanism carried out by the internal audit function of the bank, to assess the compliance and effectiveness of the policy.

“22.4 Any director whose facility or that of his/her related interests remains nonperforming in any financial institution for more than one year shall cease to be on the board of the bank and shall be blacklisted from sitting on the board of such bank and that of any other financial institution under the purview of the CBN. 22.5 No director-related loans and/or interest thereon shall be written off without the CBN’s prior approval.”

Leading the pack in terms of major decline in loans to related parties and entities controlled by key management personnel was Fidelity Bank Plc, which went from N92.31bn at the end of December 2022 to N2.09bn at the end of last year.

In footnotes, the bank however said that some of the related parties like A-Z Petroleum Limited, Dangote Group and Genesis Group as of 31 December 2022, had “exited the related party relationship post 2022 financial year in line with CBN requirement.”

In 2022, the total value of insider loans for 10 banks including Access Holdings, Guaranty Trust Holding Company Plc, Zenith Bank Plc, United Bank for Africa, Fidelity Bank, Wema Bank, Stanbic IBTC Holding Plc, FCMB Group, Unity Bank and Sterling Bank amounted to N131.04bn.

Fidelity Bank led the highest for the year, followed by Unity Bank at N17.32bn and UBA at N13.74bn.

In 2021, the loans to related parties of these financial institutions rose to N139.16bn with Fidelity Bank and UBA leading at N97.73bn and N15.28bn, respectively. GTCO trailed in third position with N6.859bn.

Between 2019 and 2020, a total of N226.6bn was disbursed as loans. In 2019, eleven banks borrowed its key management personnel a total sum of N29.65bn. The figure also includes loans to companies related to the directors.

An analysis showed that GTCO lent N155m, Zenith Bank (N1.76bn), UBA borrowed its directors N297m, Wema Bank (N5.2bn), Stanbic IBTC (N95m), FCMB (N4.8bn), Unity Bank(N7.14bn), Sterling Bank (N10.12bn) to related parties.

In 2020, the figure increased by 564 per cent or N167.32bn to N196.97bn.

Checks showed that Access Bank lent the highest with a total of N174bn to its directors and companies related to them. This was followed by Unity Bank with N7.55bn. Third on the list was Sterling Bank with N6.01bn.

Other banks including Fidelity borrowed its directors N986.2m, GTBank (N67.9m), Zenith Bank (N1.797bn), UBA (N206m), Wema Bank (N2.82bn), Stanbic IBTC (N332m), FCMB (N3.2bn), Unity Bank (N7.55bn), Sterling Bank (N6.01bn).

Commenting on the trend, the Chief Research Officer at InvestData Consulting, Ambrose Omordion said “In my language, they say, it is the yam that you know that you use to make pounded yam. If an organisation feels that the insider or director can pay the loans given to them, then there is no issue. It is when they do not pay that is where there would be issues.

“Like what is happening now in the economy, banks are not giving loans to ordinary companies unless those with names because of economic headwinds. If they give loans to the public and they are unable to repay, Non-Performing Loans will rise. If the banks offer to insiders that would pay, it is better for them.”

 

The Punch

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Court Orders Arrest of Ex-Naval Chief, Usman Jibrin Over Alleged N1.5billion Money Laundering Charges

Published

6 days ago

on

May 12, 2024

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Justice Inyang Ekwo of the Federal High Court, Abuja, has ordered the arrest of a former Chief of Naval Staff, Vice Admiral Usman Jibrin, and two other officers over N1.5 billion money laundering charge.

 

The Independent Corrupt Practices and Other Related Offences Commission (ICPC) dragged the trio before the court over fraud N1.5bn allegations.

 

The court issued the arrest warrant after hearing a motion exparte marked FHC/ABJ/CR/158/2023 and filed by ICPC counsel, Osuobeni Ekoi Akponimisingha.

 

In the motion, the lawyer submitted that Usman Jibrin Oyibe, Adam Imam Yusuf, Brigadier General Ishaya Gangum Bauka (first to third defendants), were investigated for allegations of money laundering and making false statements regarding diversion of funds in their respective military and paramilitary institutions, into companies in which they allegedly had stake.

 

According to him, at the commencement of the investigation into the allegations, the defendants were released on administrative bail on self-recognition because of their status as serving and former public figures and has since then refused to show up for possible arraignment in court.

 

The Lawyer prayed the court for a bench warrant against the 1st, 2nd and 3rd Respondents (Vice Admiral Usman Jibrin Oyibe, Adam Imam Yusuf, and Brigadier General Ishaya Gamgum Bauka) in charge No. FHC/ABJ/CR/158/2023 which is pending before the court for the purpose of arresting and bringing them to court for their arraignment and trial.

 

Listed as first to sixth defendants in the 17-count charge are Usman Jibrin Oyibe, Adam Imam Yusuf, Brigadier General Ishaya Gangum Bauka, Lahab integrated & Multi Services Limited, Gate Coast Properties International Limited and Ummays Hummayd Energy Ltd

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