Browsing: Column

The Central Bank of Nigeria Governor, Godwin Emefiele, has been advised to conduct stress tests on the Nigerian banks more regularly to determine the true health status and capital adequacy of these banks to withstand potential adverse effects and challenges in a dynamic and vulnerable economy like Nigeria aimed at protecting depositors’ funds and other investors’ interests.

It was close to midnight a few weeks ago and we just landed Lagos. I was scheduled to be in Ilesa, Osun State for a workshop on security the next morning. My driver had been waiting at the airport since midday. Prior to that day, news had filtered in of all sorts of horrors on the road from Ibadan to Ife. Nonetheless, I needed to get to Osogbo that night so I could deliver a keynote address the next morning on the very issue of security. No other option, I set out for Osogbo at midnight.

It is ironic that it had to take a member of the military establishment now turned democrat, that is General, now President Muhammadu Buhari for June 12 to be accorded its pride of place in the socio-political calendar of the Federal Government of Nigeria. Before now, the recognition/celebration of June 12 as a watershed in Nigerian history had been observed majorly by the states of the South West of Nigeria, thus making its symbolism and significance a restricted and ethnic referent. But that has changed, thanks to President Buhari. His decision to declare June 12 a national holiday, his award of a post-humous honour of Grand Commander of the Federal Republic to Chief Moshood Kashimawo Olawale Abiola and the subsequent amendment of the Public Holidays Act to accommodate June 12 as a Federal holiday is a welcome development. President Olusegun Obasanjo (1999-2007) had pointedly ignored all entreaties for his administration to take the same step.

The bubble has truly burst at the Independent Corrupt Practices and other related offences Commission following the fizzling out of its much hyped N2.5 billion fraud charge against the Director General of the National Broadcasting Commission, Ishaq Modibbo Kawu, and top executives of Pinnacle Communications Limited at the Federal High Court, Abuja, where it has failed to produce any witness or evidence in support of its claim that the said amount paid by NBC to Pinnacle Communications Limited was illegal, irregular and unauthorized.