“He’s disconnected from reality’ — APC tackles Babachir Lawal for claiming Obi won presidential poll

CC™ Nigeria News

By Dyepkazah Shibayan

The All Progressives Congress (APC) says Babachir Lawal, a former secretary to the government of the federation (SGF), needs “counselling” because he is “disconnected from reality”.

The ruling party was reacting to a statement by Lawal where he claimed that Peter Obi, candidate of the Labour Party (LP), won the presidential poll.

He said President Bola Tinubu, who was declared as the winner of the election by the Independent National Electoral Commission (INEC), came “a distant third”.

In a statement on Tuesday, Felix Morka, APC spokesperson, said the former SGF is peddling “gibberish” because Obi lost the election.

“Clearly, the defeat of his principal, Peter Obi, at the poll has done incalculable damage to Mr. Lawal’s psyche and his capacity for rational thought as evident in his analysis based entirely on the figment of his warped imagination rather than on hard facts and figures,” he said.

“A clear sign of his disconnect from reality was his reference to the election held in May 2023, rather than February.

“We challenge Babachir Lawal to give a detailed breakdown of his so-called ‘aggregated facts sourced from independent sources,’ which he claimed proved that Obi won the election or forever remain mute.

“That he did not provide these facts to help Obi prove his case before the Presidential Elections Petitions Court is a massive disservice if not betrayal of his political principal.

“Babachir Lawal ought to have known that running a jaundiced commentary on a matter before the Supreme Court is the height of irresponsibility.

“But he is still nursing bitterness and vindictiveness over his failed dream of running on a joint ticket with Asiwaju Bola Ahmed Tinubu.”

Morka described Lawal as a “lightweight” individual who has failed as a politician in Adamawa.

“Despite his legendary failure as a politician, former President Muhammadu Buhari in deference to diversity appointed him to the high office of SGF where he was unceremoniously sacked on account of very poor performance and dishonorable conduct,” he said.

“A man like Babachir Lawal is in no position to offer an opinion on the competence of President Tinubu’s appointees.”

The APC spokesperson said Lawal should mind his farm “and stop constituting himself into a needless distraction”.

THE CABLE.NG

We want Akpabio to stop the ‘Yorubanization’ of the financial system - Northern Senators

CC™ Global News

By Justina Otio 

Fresh reports have indicated that the controversy trailing Senate President, Godswill Akpabio is the suspicion of his incapacity to checkmate what some northern senators are calling the ‘Yorubanization’ of the country’s financial system and economy.

There have been various conspiracy theories claiming that some senators are plotting Akpabio’s downfall.

However, the Senate refuted the report, maintaining that the lawmakers are united behind Akpabio’s leadership.

Despite the denial, fresh details emerging from Daily Sun have claimed that some senators are angry with the senate leader because of his inability to checkmate the domination of the Yoruba in the financial ecosystem and also deal with some powerful interest groups, particularly some petrol importers and the electricity distribution companies on some proposed financial deals bordering on 40 percent electricity tariff hike and payment of outstanding money to fuel importers.

Among the senators who are alleged to have regrouped with a mission of standing up to Senator Akpabio are some former governors drawn from the North and at least one from the South-South.

The group has now formally come out by presenting Senator Elisha Abbo, APC, Adamawa North, as the face of the group.

Over the weekend, Abbo, in newspaper interviews, accused Akpabio of marginalising his rivals in the leadership contest and their supporters in the distribution of the committee positions.

Sources within the group told the aforementioned publication that “The main issue is our fear that Akpabio cannot check this Yorubanization of the financial system that is going on now.”

The source, who spoke on the basis of confidentiality, alluded to the appointments at the Central Bank of Nigeria (CBN), Federal Inland Revenue Service, Customs, among others that have recently been infused with Yoruba leadership.

“Yes, the reason why you can see that Northerners are mostly involved is that most of those being removed and replaced with Yoruba are northerners,” the source further revealed.

It was further gathered that the aim of the senators is to enthrone a senate president the group believes can checkmate President Bola Tinubu.

NAIJA NEWS

U.S. Court takes decision in Atiku’s case after Chicago State University confirmed female Bola Tinubu transcript

CC™ Politico

By Chukwuani Victoria

The judge of United States District Court for the Northern District, Jeffrey Gilbert presiding over a subpoena application for Nigerian’s president, Bola Tinubu’s records has reserved judgement after learning that the politician’s college transcript, which he used to gain admission into Chicago State University (CSU) in 1977, indicated it belonged to a female.

The judge, according to the People Gazette had earlier scheduled September 12, to rule on the matter, but said he needed additional time to digest his decision after learning that there was a transcript bearing Bola A. Tinubu released by CSU under a separate court subpoena that carried the owner’s gender as female.

Trying to demonstrate the frivolity of the case, Tinubu’s lawyer, Christopher Carmichael, raised the female issue, dismissing it as a fishing expedition based entirely on a conspiracy theory being peddled in Nigeria by Tinubu’s political detractors.

‘It is like Donald Trump coming up in 2010 to claim that Barack Obama was not born in the United States,” Carmichael said.

But lawyer to plaintiff Atiku Abubakar, Alexandre de Gramont quickly informed the court that the possibility of Bola Tinubu, who attended CSU in the same 1970s, being a woman was first revealed in records produced by the school itself.

The school had, in mid-2022, submitted Tinubu’s records in its possession while complying with a state court subpoena.

The records, handed over to Nigerian civil rights lawyer Mike Enahoro-Ebah, showed that Bola A. Tinubu was admitted into CSU in 1977 based on a transcript from Southwest College Chicago that was marked as belonging to a female.

Judge Gilbert became confused after CSU lawyer Michael Hayes confirmed that the school had indeed turned in records to Enahoro-Ebah in 2022, but insisted that the Nigerian president, Tinubu was the one who attended and graduated from the school.

Hayes, however, said he could not explain the contradictions, and the school’s administrators would not be able to state under oath that the certificate Tinubu has been parading was genuine or otherwise.

“Is the diploma authentic or is it a forgery? My client can’t answer yes to either of those questions,” Hayes said of Tinubu’s certificate that he submitted to be Nigeria’s president.

Consequently, a confused Judge Gilbert said he would need additional time to process the confusion, especially given Hayes’ confirmation of the records released last year by CSU.

“I will have to take this matter under advisement,” the judge said, adding that his court would communicate a new judgement or hearing date with counsel to all parties.

The judge said additional documents or clarification about already submitted documents may be required from the parties.

NAIJA NEWS

Why EFCC can not investigate Bola Tinubu

CC™ VideoScope

Prof P.L.O. Lumumba WARNS African Union (AU) and ECOWAS not to shed African blood for NATO and the EU

CC™ VideoScope

Bola Ahmed Tinubu Sworn In As Nigeria’s 7th Democratically Elected President

CC™ Breaking News

By Deji Komolafe - Deputy Editor

The next president of Africa's largest democracy, Nigeria, has been sworn in at a ceremony in the capital, Abuja. Bola Tinubu, 71, won February's election with a promise to renew hope - but he faces tough economic and security challenges.

The ceremony took place amid extremely tight security and in front of world leaders and dignitaries, such as President Kagame of Rwanda and Cyril Ramaphosa of South Africa at the 5,000 capacity Eagle Square venue in the capital Abuja.

Tinubu becomes just the 7th democratically elected president of Nigeria, and the 16th overall.

He inherits a country beset by serious economic and security challenges after eight years of rudderless leadership by the outgoing administration of Muhammadu Buhari.

Tinubu also inherits a nation deeply divided along ethno-religious lines, a consequence of the acerbically divisive rule of former President Buhari, who will go down as probably the most polarizing leader in the history of Nigeria. 

Tinubu’s inauguration is the culmination of a life-long ambition to rule Nigeria and he is probably the most prepared to do so, in the history of the country.

Tinubu inherits negative growth, non-performing sectors

CC™ Africa News

As President Muhammadu Buhari hands over the reins of the economy to Bola Ahmed Tinubu, the scorecard seems overwhelmingly negative.

Key macroeconomic indicators are all in the red, with most of them far weaker than what was handed over to the outgoing regime in 2015.

From inflation figures to Gross Domestic Product (GDP) and exchange rates; from the money market performance through the entire financial markets and the real sector, the story is gory.

Headline inflation rose to 22.2 per cent in April 2023, the highest in 18 years. Buhari inherited a single digit inflation rate at 9.0 percent in June 2015, and he is set to hand over to Tinubu a second tier double digit inflation which is still trending up as at the time of this report.

This reflects the steady rise in prices of goods and services under Buhari occasioned by a number of wrong-headed or badly implemented policies including foreign exchange restriction on 43 items, border closure, farmers/herders clash, post-COVID supply chain bottlenecks as well as the most recent Naira redesign debacle, among others.

Consequently, the average headline inflation in the eight years of Buhari tenure rose to 14.77 per cent, up by 447 basis points from 10.3 per cent in the previous eight years, 2007 to 2014.

Of course this escalated the misery index across larger section of the citizens.

The GDP numbers through the previous eight years before Buhari took over in the second quarter of 2015 had averaged 4.8 percent.

As of the time the Buhari administration took off in the second quarter of 2015, Q2’15, the economy growth rate had slowed down to around 3.57 percent due to the oil price crises that had started a year earlier.

However, the high expectations that the economy is going to be revived quickly vanished when the new administration slumbered in setting up the cabinet and the subsequent economic management team that was expected to steer the ship away from the troubled waters.

Consequently, this lethargy littered the entire spectrum of the subsequent years, bringing the GDP numbers to one of the worst in history recording two recessions and an average of 1.2 percent growth.

Tinubu is inheriting a sluggish economy.

Mirroring the steady rise in inflation under Buhari, the benchmark interest rate, the Monetary Policy Rate, MPR, rose by 500 basis points, bpts, to 18 per cent in March 2023, as the Central Bank of Nigeria, CBN, moved to curb inflation.

Consequently, the maximum interest rate rose by 137 bpts to 28.08 per cent at the end of March 2023, from 26.71 per cent at the end of 2015. The Prime Lending rate, however, dropped by 295 bpts to 13.9 per cent from 16.85 per cent.

Tinubu is inheriting a high cost economic environment.

In the eight years of Buhari, the naira depreciated by 245 per cent and 135 per cent in the parallel market and in the official market respectively.

While the official exchange rate rose to N465.13 per dollar on May 17, 2023, from N198 per dollar on May 31, 2015, the parallel market exchange rate rose to N748 per dollar on May 17, 2023 from N217 per dollar on May 31, 2015.

Consequently, the premium between the two exchange rates widened to N279.87 on May 16, 2023, from N19 on May 31, 2015, the widest in the history of the country’s foreign exchange market.

Notwithstanding the decline in net foreign exchange, the nation’s external reserves rose to $35.19 billion at the end of May 16, 2023 from $28.28 billion at the end of 2015, translating to an increase of 24 per cent during the eight years period.

However, discounted for the $30.97 billion increase in external debt during this period, the external reserves will decline to $4.22 billion, hence a decline of 85 per cent in the eight years of Buhari.

How Buhari’s deficit budgeting hands fiscal albatross to Tinubu

The deficit budgeting strategy of the administration of the out-going President has created a fiscal albatross for the incoming administration.

The Federal Government deficit in 2016 was slightly above N2 trillion, but this has risen to over N12 trillion in the current fiscal year.

This follows a consistent pattern of weak revenue generation at the backdrop of propensity to spend more than earnings.

With poor revenue records and expansionary budget outlays, Buhari has consistently borrowed to fund the government budgets since assumption of office.

The National Assembly has also encouraged the borrowing to fund budget deficit from both domestic and external sources.

By 2015, out of the $65.428 billion public debt of the nation, the Federal Government debt was $44.857 billion or N8. 836 trillion

It consisted of $10.718 billion external debt while domestic debt was N8.836 trillion.

But as of December 2022, the total public debt stock of the nation had risen to $103.110 billion or N46.250 trillion.

Analysis of the detailed debt stock as of last year end shows that the external debt stood at $41.694 billion or N16.703 trillion while states and the Federal Capital Territory external debt stood at $4.456 billion.

At $61.415 billion or N 27.548 trillion, domestic debt accounted for 59.56 percent of the total debt stock. Out of that figure the Federal Government owed $ 49.515 billion or N22.210 trillion while states and the FCT owed $11.900 billion or N5.337 trillion.

Tinubu inherits tottering capital market

Resilience

Elsewhere across the entire financial sector, the story is almost the same, except for some resilience in the capital market.

In the negative principally is the exit of foreign investors in the capital market responding to the adverse macroeconomic and policy environment.

Foreign investors’ participation which hitherto accounted for more than 60 per cent of transactions in the Nigerian stock market went south between May 2015 and 2023.

But the secondary market for equities defied these realities and surged by 52.8 per cent.

The NGX under Buhari administration, is, therefore, marked by significant periods of highs and lows.

When the President took over office in 2015, the market capitalization of the Nigerian Exchange Limited (NGX), formerly the Nigerian Stock Exchange, was N16.88 trillion (equities 69.1% or N11.66trn, bonds and others 30.9%).

By May 16, 2023, the market capitalization had risen to N60.05 trillion comprising equities (N28.523trn), bonds (N22.390trn) and Exchange Traded Fund, ETF (N9.137bn).

Notwithstanding this increase, the ratio of equities market capitalization to GDP remains paltry at about 15 percent, an indication that the capital market is not really integrated with the economy.

Also, the main performance indicator of the NGX, the All Share Index (ASI), advanced to 52,419.33 points from 34,310.37 points, representing a 52.8 percent increase.

However, the positive scores in the capital market in the past eight years include few new listings in the exchange.

2019, particularly, saw the listing of blue chip companies. As one of the settlement terms with the Federal Government for infraction, MTN was compelled to list on NGX. The listing encouraged Airtel Africa, another telecoms giant, to also list, thereby shooting up the market capitalization of equities to over N19 trillion. Prior to the listing of the two telecom giants, Notore Chemicals had listed in 2018. Since then, other major companies, including Skyway Aviation Handling Company Plc (SAHCO), BUA Cement, BUA Foods and Geregu Power, the first energy company to access the stock market, were listed.

Under the Buhari administration, several elite products were introduced in an effort to deepen the market.

More so, the Collective Investment Schemes (CIS) segment of the capital market was revived and the products are now traded on the stock exchange. More Exchange Traded Funds (ETFs) and recently launched Exchange Traded Derivatives have emerged in the Nigerian capital market. With the rollout of Exchange Traded Derivatives, a critical financial market infrastructure, called Central Counterparty (CCP) for clearing, settlement and delivery, was set up by NGX and the FMDQ Securities Exchange.

In 2015, three new indices were launched, including the Premium Board Index, Pension Index and the Main Board Index.

During the eight years of Buhari, foreign investors’ confidence in the market took a nosedive. When he took office in 2015, foreign investors’ participation at NGX was 54%. But by the end of 2022, their participation, fuelled by foreign exchange (forex) scarcity and capital controls by the Central Bank of Nigeria (CBN), had fallen to 17 percent. This has kept many foreign investments trapped in Nigeria.

While there have been a number of new listings, the spate of delisting outweighed the former. While there were a total of seven new companies got listed, not less than 40 companies exited the market either through regulatory or voluntary delisting.

Since the 2008/2009 capital market crash, the primary market for equities has been dormant. Eight years of the Buhari administration failed to revive the primary market for equities. Other than the PO by MTN, there was practically no other equities public offering throughout the eight years of the President’s tenure.

Weak insurance sector

At the inception of the Buhari administration in 2015, the National Insurance Commission, NAICOM, the regulatory body for insurance practice in the country, in collaboration with insurance operators, had set out to achieve some targets in the course of the administration.

The set targets include the insurance sector hitting a trillion naira mark in Gross Premium Written, GPW; enforcement of compulsory insurance; eradication of fake insurance; recapitalisation of underwriting firms; passage of the Consolidated Insurance Bill; regular payment of group life premium for civil servants; increase of third party motor insurance premium, etc.

However, the combined effects of adverse macroeconomic environment and rising poverty diminished the results of the efforts by both the sector regulators and operators.

In 2015, total industry Gross Premium Written, GPW, was N289 billion and, according to NAICOM, the GPW is highly inadequate to underwrite huge ticket risks such as oil & gas and aviation. The Commission, therefore, set out modalities to achieve one trillion GPW in the course of the administration.

However, by December 2022, industry GPW stood at N532.7 billion, a far cry from the N1 trillion projection.

NAICOM, in collaboration with industry operators, had put the machinery in place to enforce the compulsory insurances.

Insurance operators worry that insurance penetration will continue to be low if they remain within comfort zones without expanding the business to the nooks and crannies of the country.

Unfortunately, as this administration winds down, enforcement of the compulsory insurance policies is still a far cry from expectation.

According to experts, the insurance sector loses over N60 billion to fake insurance racketeers annually.

Although NAICOM has taken some steps to curb the spread of fake insurance policies, the menace persists albeit on a declining scale.

Before the administration came, the Consolidated Insurance Bill had been awaiting passage in the National Assembly.

In the course of the administration, the Bill continued to gather dust even as the sector made series of efforts to fast-track its passage.

The Bill is aimed to make insurance practice conform to the ideals of contemporary insurance practice as well as align the insurance sector with the powers of other financial regulators in the country.

Unfortunately, the Buhari administration did not do justice to the Bill.

On the positive note, the administration inherited non-payment of premium for compulsory group life for Federal Government workers from the previous administration.

The implication was that many government workers died in active service with no compensation from the group life insurance scheme, except where government decides to pay compensation from its treasury.

The development elicited outcry from insurance stakeholders as they called on government to give more attention to group life insurance scheme, stressing that the scheme remains one of the ways the government can cater for workers’ risk liabilities.

However, the administration resumed payment of group life premium for civil servants.

Accordingly, the administration on annual basis pays premium of N5.4 billion for the group life cover.

VANGUARD

Sowore 'disappointed' Tinubu did not participate in Abuja Marathon

CC™ Politico News

The African Action Congress (AAC) Presidential Candidate, Omoyele Sowore has expressed his 'disappointment' that the President-elect, Bola Tinubu did not participate in the 2023 Abuja Marathon.

Sowore stated this while addressing journalists in Abuja on Saturday.

He also expressed disappointment over the absence of the Minister of Federal Capital Territory, FCT, Mohammed Bello, at the race.

The rights activist was one of the participants in the maiden edition of the Abuja International Marathon.

He said: “This is the first Abuja marathon, I participated and I ran longer than I expected. I expected that the Minister of FCT would be here.

“I was even expecting Tinubu to be here, but apparently, I am the only presidential candidate standing after the election.

“I ran with kids, great kids. I am of the opinion that we are wasting a lot of talent in this country.”

According to Sowore, sports was an important tool towards uniting Nigerians and generating employment for the youths.  

Peter Obi reacts to Buhari’s postponement of National Population Census

Buhari betrayed Jonathan’s Legacy

CC™ Global News

By Gboyega Sowemimo

Labour Party (LP) presidential candidate in the 2023 general election, Peter Gregory Obi, has reacted to President Muhammadu Buhari’s decision to postpone the 2023 Population and Housing Census, earlier scheduled for May 3-7 2023.

Buhari in a press statement signed by the Minister of Information and Culture, Lai Mohammed, on Saturday, officially approved the census postponement.

Mohammed revealed that Buhari gave the approval after meeting with some members of the Federal Executive Council and the Chairman of the National Population Commission, Nasir Isa-Kwarra, and his team at the Presidential Villa in Abuja on Friday.

According to the minister, President Buhari approved that a new date would be determined by the incoming administration.

Reacting via Twitter on Saturday, Peter Obi described Buhari’s decision as a welcome development, stressing that National Census is a critical development and nation-building tool.

Obi tweeted: “FGN’s decision to postpone the 2023 Population and Housing Census, scheduled for 3-7 May 2023, to a date to be determined by the incoming Administration is a propitious and welcome development. National Census is a critical development and nation-building tool”

It is imperative that the next National Population Census is done right, with a view to addressing past concerns of the exercise being manipulated to favor a certain region of the country. 

BREAKING: Results on INEC portal show Peter Obi, not Tinubu, won in Rivers State

CC™ Politico News

By Chinagorom Ugwu and Saviour Imukudo

The candidate of the Labour Party (LP), Peter Obi, won the 25 February presidential election in Obio/Akpor Local Government Area of Rivers State, South-south Nigeria, according to results uploaded on the INEC Results Viewing Portal (IReV).

Mr Obi’s haul of votes in the area implies he, and not Bola Tinubu of the All Progressives Congress (APC), won the presidential election in Rivers, contrary to the declaration made by INEC.

The result for Obio/Akpor council area, as declared by INEC, portrayed Mr Tinubu as scoring 80, 239 votes, with Mr Obi garnering 3,829 votes.

Atiku Abubakar of the Peoples Democratic Party (PDP) scored 368 votes while Rabiu Kwankwaso of the New Nigeria Peoples Party got 161 votes, this newspaper had reported.

Mr Tinubu was later declared winner of the election. Atiku came second while Mr Obi came third.

But PREMIUM TIMES’ review of the results from various polling units of the 17 wards in Obio/Akpor LGA as uploaded on IReV revealed a sharp contrast with the result declared by INEC.

Given that Mr Tinubu was declared winner in Obio/Akpor, this newspaper’s review focused on the results of the votes scored by the APC and LP in the area

By our tally, the APC got 17, 158 votes while the LP amassed 73,311 votes.

Obio/Akpor Local Government Area has 1,211 polling units across its 17 wards.

PREMIUM TIMES could only review results from 1,116 polling units uploaded on the IReV as of 16 March, representing about 94.13 percent of the results from the council area.

However, results from some polling units were either blurred or improperly snapped and therefore illegible.

Results from about 95 polling units, representing about 5.87 per cent, were yet to be uploaded within the period under review.

There were no results in some polling units either because the Bimodal Voter Accreditation System malfunctioned or people did not come out to cast their votes, as observed at Ake Hostel UNIPORT Polling Unit in Choba Ward. 

This newspaper computed the available and readable results from the 1,116 polling units uploaded so far on the IReV within the period of the review.

In some polling units in Obio/Akpor, PREMIUM TIMES found that some results were altered in favour of the APC, with the original scores mutilated.

The result from Rumuorluoji Open Space II polling unit in Oro-Igwe Ward, for instance, showed that the APC originally scored 17 but the number, ‘2’ was added to the figure to read ‘217.’

For the LP, 227 was recorded, but the number ‘2’ was erased and altered to read ‘027.’

At the column meant for recording the scores in words, there were evidence of adjustments to suit the changed figures.

In Rumuokoro Ward, it was noticed that in 34 polling units, results earlier written for the LP were erased and the figures swapped with that of the APC.

PREMIUM TIMES, nevertheless, tallied the figures as published by INEC, despite the obvious evidence of adjustments and mutilations. In other words, the figures were tallied as they appeared on result sheets, even when there was evidence that such figures were tampered with.

In some cases, the results for the National Assembly elections were uploaded in some polling units instead of the presidential election results.

A result from the Civic Centre Hall Polling Unit in Rumuigbo Ward, for instance, showed that a result from the House of Representatives election was uploaded in place of that of the presidential election.

PREMIUM TIMES also tallied results from Degema Local Government Area uploaded on the IReV, and the findings confirmed Mr Tinubu won in the council area, although the score was slightly lower than the one announced by INEC.

However, this newspaper could not tally the results from some polling units in the council area because they were illegible or not yet uploaded within the period under review.

Mr Obi was leading Mr Tinubu with over 23,000 votes by the time INEC announced the presidential election results in 21 of the 23 local government areas in the state.

The LP candidate polled 169,414 votes at the time, while Mr Tinubu scored 148,979 votes.

Mr Obi’s largest votes at the time came from Port Harcourt City Local Government Area where he scored 62,451 votes, while Atiku scored 7,203 votes, followed by Mr Tinubu, who scored 5,562 votes. Kwankwaso scored 301.

Results were still being expected then from two remaining local government areas – Obio/Akpor, where the State Governor, Nyesom Wike, hails from, and Degema.

With the results from Obio/Akpor coming in, and with INEC announcing that Mr Tinubu scored 80, 239 votes against Mr Obi’s 3,829 votes, the APC candidate was now in the lead and was eventually declared the winner of the presidential election in Rivers State.

Atiku scored 368 votes in Obio/Akpor, while Mr Kwankwaso scored 161 votes.

In Degema Local Government Area, Mr Tinubu scored 2,375 votes, while Mr Obi scored 2,212 votes. Atiku scored 3,108 votes, while Mr Kwankwaso scored 44 votes.

Mr Tinubu polled 231,591 votes in Rivers State as against Mr Obi’s 175,071 votes, according to INEC.

Atiku scored 88,468, while Mr Kwankwaso clinched 1,322 votes.

The collation officer for the presidential election in Rivers had adjourned the collation of results at some point over alleged threat to his life by some supporters of a political party.

There were reports of attacks and suppression of voters in the state.

Governor Wike, who is a member of the PDP, led other PDP governors to rebel against the national leadership of the party and its presidential candidate, Atiku, following disagreement over which of the north or the south should produce President Muhammadu Buhari’s successor.

The Rivers governor had contested and lost in the PDP presidential primary.

He then supported the APC candidate, Mr Tinubu in the presidential election, saying since Mr Buhari is from the north, the next president of Nigeria, for the sake of fairness, should come from the south.

Mr Obi, like Mr Tinubu, is from the south of Nigeria.

PREMIUM TIMES

From Jibril To Pablo: The Jagabanization Of Democracy As Nigeria Moves Closer To Tyranny

David Hundeyin

CC™ Viewpoint 

By Boyejo A. Coker - Editor-in-Chief

In my preceding piece, I alluded to the fact that, it actually does not matter what aisle of the political spectrum you belong to, the problem with Nigeria is not one of ethnicity or a lack of resources, both human and natural to propel that great nation to its deserved lofty heights, Nigeria's problem remains the same - the rudderless, improvident and imprudent band of usurpers and brigands, masquerading as leaders since the inception of the 4th Republic in May, 1999. 

For those who thought 2023 was going to be different, I must ask what they were smoking to have thought it possible for one to put old wine in a new bottle and expect a different taste. In what parallel or alternate universe would that have been possible giving the antecedents of Nigeria’s crass political class and the generality of its people? When you have Bola Ahmed Tinubu, Atiku Abubakar and Peter Obi as the standard bearers of the three main Parties, was anything actually going to be different? 

Most people conveniently forget that Peter Obi launched a third force as a form of ‘grievance’ against the PDP. Obi felt he was never going to win the nomination ticket to be the presidential candidate of the PDP. Obi was in fact the first protagonist of the spirit of Emilokan, or in his case, Awalokan, as he felt it was the turn of the Southeast to produce the next President of Nigeria. Peter Obi is not new to the political arena in Nigeria. He is in fact an integral part of the establishment and while many laud his purported achievements when he was the Chief Executive of Anambra State, one remains puzzled as to exactly what his signature accomplishments were, besides being a supposed egalitarian steward of the coffers of Anambra State, as governor. 

  

For the record, Obi was Atiku Abubakar's running mate in 2019 under the auspices of the PDP, the Party that had held sway over Nigerian politics for 16 years from 1999 to 2015. He and Atiku lost the election to the then incumbent (and outgoing president) Muhammadu Buhari.

Obi was also named in the Pandora Papers controversy. The result of the Pandora Papers leaks, the Premium Times reported on Obi's involvement in offshore companies in tax havens such as the British Virgin Islands and Barbados. This was before he held any political office in Nigeria. Further reporting showed that in 2010 as well, Obi had Access International help him set up and manage Gabriella Investments Limited, a company in the British Virgin Islands named after Obi's daughter. 

One of the directors was also the director of a Belize-based shell company that was issued 50,000 shares in Gabriella Investments. In 2017, Obi reorganized the company under the name PMGG Investments Limited and created a trust named The Gabriella Settlement which became the sole shareholder in PMGG Investments Limited. Obi was not holding any political position at this time. 

The Premium Times report claimed that Obi had broken several laws due to his business dealings. The report claimed that firstly, Obi remained as director of Next International (UK) Limited while serving as Governor of Anambra State, which is in direct violation of the Code of Conduct Bureau and Tribunal Act. Obi described that claim as misleading and wrong in an interview with Arise News stating that he resigned from all companies before taking the office of Governor of Anambra State. Secondly, it claimed that Obi's non-declaration of his offshore companies broke the Nigerian Constitution's provision that requires public officers to declare all their properties, assets, and liabilities. 

For the record, no criminal case has ever been filed against Obi. 

 

To his credit, Obi's Labor Party (LP) galvanized a movement that threatened the very foundation of Nigeria's entrenched political establishment. He selected a charismatic running mate of Northern extraction, Senator Yusuf Datti Baba-Ahmed, a Nigerian economist and politician who served as Senator for Kaduna North from 2011 to 2012 and member of the House of Representatives from 2003 to 2007. 

The 'Obidient Movement', as it was aptly named, re-invigorated the youth of Nigeria and energized a political base that had been marginalized, oppressed and suppressed for far too long by the Kleptocrats who had run roughshod over the Nigerian populace for far too long. For the first time in the history of Nigerian politics, the entrenched political establishment had to reckon with a veritable third force, and Bola Ahmed Tinubu's All Progressives Congress (APC) ruling Party as well as the Peoples Democratic Party (PDP) led by Atiku Abubakar, were left reeling in the face of a formidable display of organizational discipline and focused messaging by the Obi-Datti led LP. 

While the Obi-Datti led LP sought to project a unity of purpose coupled with disciplined messaging, Tinubu's APC took the often travelled path of ethno-religious bigotry by presenting a Muslim-Muslim ticket with Tinubu's running-mate Kashim Shettima having a well-documented history of being in bed with the Islamic terrorist group, Boko Haram, while the Atiku-led PDP again put forth someone with a well-documented record of not only losing major elections dating back to the early 1990s, but also being one of the most corrupt individuals in the history of Nigerian politics.  

The Independent National Electoral Commission (INEC), Nigeria's supervisory electoral body promised a free, fair and transparent election with a veritable voter authentication mechanism, as well as real time upload and transmission of election results. At the end of the day, the 2023 elections were at best a sham with widespread issues of voter suppression through intimidation and in some cases, murder, including the blatant altering/falsification of results to favor the ruling APC.  

Even more damming is that Tinubu’s own organization, the National Democratic Coalition (NADECO), which was formed on 15 May 1994 by a broad coalition of Nigerian democrats to challenge the then military junta of the sadistic dictator, Sani Abacha, challenged the transparency and legitimacy of the just concluded 2023 general elections. 

Worse still is that barely a month after the elections, the Islamist terrorist groups have once again resumed their blood-letting, perhaps in recognition of the fact that the incoming administration of Bola Tinubu and his second-in-command, Kashim Shettima, will subtly acquiesce to their ethnic and religious killings, as the two (Tinubu and Shettima) are known sympathizers and benefactors of Boko Haram and its sister band of killers. 

 

If President Buhari's goal was to leave a legacy beholden of the true tenets of democracy, he failed woefully, which is not surprising when one considers the rudderless leadership, he has subjected the country to over the last 8 years.  

The legitimacy of Bola Ahmed Tinubu, if he is sworn-in will always be a viable conversation piece. He will be the first person chosen to lead Nigeria to get less than 50% of the votes. There are also doubts as to the veracity of his educational qualifications, as to date, his purported degree from Chicago State University in the United States of America, remains unsubstantiated.  

Furthermore, there are serious legal questions surrounding his forfeiture of close to $500,000 to the United States government in 1993 for his involvement in drug trafficking. The latter, as well as the specter of the fact that he may have presented fraudulent educational credentials may be enough to cast a shadow over his fitness for that exalted office.  

There is a palpable air of illegitimacy hanging over Tinubu's hollow victory, and regardless of what the Supreme Court rules in response to the petitions filed by both the LP and the PDP, near irremediable damage has been done to the collective psyche of Nigerians, as well as the nation's nascent democratic institutions.