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Encomium as Wole Soyinka Celebrates 88 Birthday

by Folarin Kehinde July 13, 2022
written by Folarin Kehinde

Nigerian sage and literary genius Professor Wole Soyinka turns 88 today. He was born on the 13th of july 1934 in Abeokuta near Ibadan, old western Nigeria.

After his studies in government college Ibadan (now university of Ibadan) in 1954, he continued at the university of Leeds where in 1973 he took his doctorate. During the six years spent in England, he was a dramaturgist at the Royal Court Theatre in London 1958-1959.

In 1960, he was awarded a Rockefeller bursary and returned to Nigeria to study African drama. At the same time, he taught drama and literature at various universities in Ibadan, Lagos, and Ife, where, since 1975, he has been professor of comparative literature.

He is the author of many renowned plays including: swamp dwellers, the Lion and the Jewel, the trial of brother Jero etc. Soyinka has written two novels, The Interpreters (1965), narratively, a complicated work which has been compared to Joyce’s and Faulkner’s, in which six Nigerian intellectuals discuss and interpret their African experiences, and Season of Anomy (1973) which is based on the writer’s thoughts during his imprisonment and confronts the Orpheus and Euridice myth with the mythology of the Yoruba.

Purely autobiographical are The Man Died: Prison Notes (1972) and the account of his childhood, Aké ( 1981), in which the parents’ warmth and interest in their son are prominent. Literary essays are collected in, among others, Myth, Literature and the African World (1975).

in 1986, he won the coveted Nobel prize in Literature, becoming the first African to win the award.

Professor Soyinka is celebrated as a literacy genius, a pan-African and an avid campaigner for good governance. Many people including the Nobel association have taken to their social media accounts to celebrate the Nigerian writer on his 88th birthday

July 13, 2022 0 comments
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Headlines

2023 Census: NPC Foil Attempt to Hack Recruitment Portal

by Folarin Kehinde July 13, 2022
written by Folarin Kehinde

The National Population Commission (NPC) has foiled an attempt to hack its recruitment portal for the 2023 census.

NPC Commissioner for Anambra, Chidi Ezeoke, made the disclosure at a news conference in Awka.

Ezeoke said that the NPC had established a digitalised online geo-fenced portal to recruit personnel from selected communities across Nigeria.

The official assured that the commission was committed to correcting anomalies to ensure an accurate and reliable census next year.

“If hackers were not able to succeed in this, we want to ensure and assure that it will be difficult for them to hack during the 2023 census.

“I’m almost certain that the attempt, to a large extent, was foiled.

“When you are trying out something new, people will try to bypass your efforts”, NAN quoted him saying.

Joachim Ulasi, NPC State Director refuted alleged substitution of recruited officers, saying the ones dropped were those absent during the 12-day training.

July 13, 2022 0 comments
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BusinessHeadlines

Electronic Transfer Charges Made N97.3 Billion for the FGN

by Leading Reporters July 13, 2022
written by Leading Reporters

The Federal Government (FG) in its May communique of the Federation Account Allocation Committee (FAAC) stated that N97.3 billion was generated from Electronic Money Transfer Levy (EMTL).

This represents the highest amount generated from EMTL by the country since 2020. Nigeria has generated not less than N129.62 billion from EMTL and the amount generated in April represents 75.04% of the total amount generated ‌thus far.

Revenue generated from EMTL made up 14.29% of the total N680.78 billion generated by the federal government in the month of April.

Electronic money transfer levy was introduced to replace the stamp duty on bank transfers in the 2020 Financial Act. This levy imposes a N50  levy on electronic transfers of  money deposited in any financial institution for amounts over N10,000.

What does this mean? It implies that if Sule buys or has a transaction with Chinedu and he pays him using an inter-bank transfer, after crediting the account of Chinedu with the amount, say N10,000, the bank will charge Sule a N50 levy for the transaction, apart from the money transferred. This will mean a total deduction from Sule’s account of N10,050 for the transaction.

This electronic transaction levy appears to apply both ways – from the sender and receiver. So both Sule and Chinedu will receive debit alerts. However, Sule would get an alert of the debit from his bank but Chinedu would not except he pays close attention to his bank statements. Most people don’t.

Chinyere Janice, who sells groceries, noted deductions termed ‘levy’ on her account.

‘For every bank alert I receive as payment for the items I supply, my money is being deducted as an electronic transfer levy. This amount ranges from N10 to N100, depending on the amount transferred to my account,’ Chinyere said.

Electronic money transfer levy is a source of revenue for most African countries. A report termed it ‘lazy tax’ as the government doesn’t have to do much to collect it.

The report shows that Uganda was the first to impose this levy in Africa in July 2018 with a 0.5% threshold. Zimbabwe followed in October 2018 at 2% taxation threshold. For all countries that have imposed this levy, the threshold ranges from 0.2% to 2%.

Nigeria introduced this in the 2020 Financial Act and has since commenced collection. Section 89 (A)(1&2) of the act states:

There is imposed a levy, to be referred to as the Electronic Money Transfer Levy, on electronic receipts or electronic transfer for money deposited in any deposit money bank or financial institution, on any type of account, to be accounted for and expressed to be received by the person to whom the transfer or deposit is made

The levy shall be imposed as a singular and one-off charge of N50 on electronic receipts or electronic transfers of money in the sum of N10,000 or more

Sub-section 2 of the act states a one-off deduction payment.

Nigeria has continued to witness increased adoption of mobile banking for transactions as a critical part of the financial inclusion strategy. Transaction volume  through mobile devices between January and April 2022 was 153 million. In 2021 within the same period, transaction volume was 67 million, a 128.4 percent year-on-year increase.

Nigeria, alongside 6 other countries contribute half of the World’s 1.7 billion unbanked population. For financial institutions and the many fintech companies springing up, there is still a substantial market to tap into. 

Expanding the mobile banking market is also good news for a revenue-challenged Nigeria because as that market grows, the levy on electronic transfers will provide increased revenue to the government, even if it amounts to double jeopardy for users of mobile banking services, both senders and receivers.

NewsCredit: dataphyte

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Headlines

2023 Northern elders: What Peter Obi won’t do to Nigeria if elected president

by Leading Reporters July 12, 2022
written by Leading Reporters

The Northern Elders Forum, NEF, has assured Nigerians that the Labour Party, LP, presidential candidate, Peter Obi won’t divide the country if elected.

Hakeem Baba-Ahmed, the spokesman of NEF, also noted that Nigeria will not be divided if Obi fails in the 2023 presidential election.

He pointed out that no presidential candidate would divide the country if elected in 2023.

Baba-Ahmed was reacting to a Twitter user who said he was scared the LP presidential candidate will divide the country if elected president.

It was a very good issue and I’m glad I raised it @PulseNigeria247 pic.twitter.com/wM0H5JAPe1

— DUKE UF Lagos 💯❤️🌍 (@Chibu_eze2) July 12, 2022

The Twitter user @AnthonyAnya33, wrote: “I understand why you’re scared… he will divide the country but ask yourself what if he fails to win do you think the country will remain one?”

Reacting, Baba-Ahmed wrote: “I am afraid you are wrong on both counts. Not Obi, no candidate will divide the country when he becomes President, unless he deliberately chooses to govern in a manner that infinitely dwarfs the current administration’s record.

“The country will not divide if Obi does not win either.”

July 12, 2022 0 comments
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Mushroom parties, You’ll labour till death, Tinubu attacks PDP, LP

by Leading Reporters July 12, 2022
written by Leading Reporters

Ahead of the governorship election in Osun State, the All Progressives Congress, APC, presidential candidate, Bola Tinubu, on Tuesday lashed out at the Peoples Democratic Party, PDP, and Labour Party LP, in the state.

Tinubu said the PDP and Labour Party will labour till death.

The Independent National Electoral Commission, INEC, had scheduled the Osun State governorship election to hold on July 16.

Governor of Osun State, Gboyega Oyetola is seeking to return to power for his second term, while Ademola Adeleke of the PDP is the front runner for the gubernatorial race.

LP has Lasun Yusuf as its governorship candidate.

However, Tinubu dismissed the possibility of PDP and LP giving the APC a stiff contest.

Speaking at the party’s mega rally, he described PDP and LP as “mushroom parties”.

He urged residents of Osun State to consider their future and vote for APC.

According to Tinubu: “I ask you to please do the same thing you did in Ekiti. Come out with your PVCs and vote massively for APC.

“The voting is now in your hand. Be very vigilant. Be watchful. You will not do it in vain.

“Think about your children and vote accordingly so you can see the future. Come out en masse. Don’t mind PDP and other mushroom parties — parties like Labour; they will labour till they die. God will not make you labourers.”

July 12, 2022 0 comments
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The Pains and Gains of POS Business in Nigeria

by Folarin Kehinde July 12, 2022
written by Folarin Kehinde

Nelson Uguwagbo, Abuja

POS services now place an active role in the day to day routine of Nigerians. Their operators are in every nook and cranny of Nigerian localities making it easier for individuals to carry out financial services.

The central bank of Nigeria (CBN) in 2013 introduced the agent banking system in a move to extend financial services and push Nigerians towards a cashless economy.

Agent or POS banking opened up a new portal for banks and other financial institutions to reach a wide range of customers including those in remote or unbanked places.

They extend the services offered by these financial institutions to make financial transactions more convenient for customers.

In 2020, the Nigerian Inter-Bank Settlement System (NIBSS) recorded that POS merchants processed over 650 million POS transactions valued at 4.7 trillion naira. A 50% increase from 2019.

This was partly due to the lockdown which made it impossible for individuals to visit banks.

The services offered by POS merchants include: withdrawing money, deposit and transfer of cash, paying utility bills, opening bank accounts etcetera.

An enormous advantage of POS is the role it has played in Job creation and curbing unemployment especially among young people in Nigeria.

A brief survey of most communities in Nigeria shows that POS merchants are almost at a stone throw from one another.

The requirements to become a licensed POS operator is easy to meet. Some banks even give POS machines for free to interested individuals who have a stipulated amount of money in their account (often less that 150,000 naira).
Most Nigerians have taken that advantage to open POS shops at various locations.

These owners also employ various sales girls and boys to manage their POS shops.

In Dape, a community in Abuja, Nigeria, there are over 30 POS shops that employ lots of sales persons. These persons would have otherwise not been gainfully employed. This scenario is the same in various communities, markets and roadsides across Nigeria.

Advantages of POS business are:

1) Financial Inclusion: POS business in various localities means more Nigerians can be included in financial services.
POS agents help Nigerians open accounts, pay bills, deposit, withdraw and transfer cash among other services.

Many people who were previously unbanked can now carryout financial transactions with the aid of POS services.

Also, since banks and ATM’s are mostly located in urban areas, POS comes as a means to include everyone to bridge the gap and include everyone.

2) Convenience: POS businesses offers financial convenience to their customers. Instead of going to queue up inside a bank or ATM, an individual can just go to one of the numerous POS outlets in his or her locality and carry out the transaction.

Also unlike banks that only work Monday to Friday and close by 3pm, most POS agents work 7 days a week and are available up till 11pm.

However POS business is not without it’s disadvantages. While customers enjoy the convenience that comes with POS services and business owners enjoy the profits, it is necessary to discuss some factors that pose as a risk factor to POS transactions.

1) Network Issues and Failed Transactions

One main disadvantage of POS business is that it is vulnerable to network issues.
4 out of 5 Nigerians have experienced the frustration that comes with having a POS transaction declined due to poor Network.

This poor networks leads to money hanging in transit that can only be gotten back weeks after the customers goes to lay a formal complain at the bank.

2) Exposed Customer Information:
Private details of a customers can easily be stolen by a fraudulent POS operator.

The pins and card details of customers when stolen are used to scam people of their money.
Also names are address of customers available to POS agents can be sold to criminals who might want to harm them. This factor has led a lot of people to be weary and skeptical of POS agents.

3) Theft and Scamming: In an unsecured community or location, the POS agent is not safe as he is susceptible to attack by people who wish to steal the money on them.
Since it is common knowledge that POS agents always have bulk cash at hand, many criminals target them so are to forcibly collect the money.

Also, scammers or Yahoo boys normally extort money from POS agents by using fake alerts to deceive them.

This high rate of crime has led some POS businesses to go bankrupt, worse is that it can lead to injury or death of the POS agent who resists.

July 12, 2022 0 comments
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Headlines

2023: Funke Akindele Dumps Acting for Politics

by Folarin Kehinde July 12, 2022
written by Folarin Kehinde

Nollywood actress, Funke Akindele, has put her acting career on hold as she becomes the running mate of the Peoples Democratic Party Lagos State governorship candidate, Olajide Adediran.

Confirming her deputy governorship candidacy on Tuesday, the actress stated that her acting career must be “necessarily put on hold”.

According to her, this was a sacrifice she had to make to “rescue” the people of Lagos State.

In the video she shared on her Instagram page on Tuesday, the actress said, “I am not unaware of the cost of this assignment on my vibrant career, which I must now necessarily put on hold.

“It’s a huge personal sacrifice. My resolve is that no sacrifice is too huge for the actualisation of the urgent mission to rescue our people and our dear state.”

Speaking on her reason for accepting the role, Akindele said, “I saw it as an opportunity to help liberate and improve the wellbeing of our people, particularly the deprived youth, women and the girl child.

“My decision is not just to accept this huge responsibility but to also work tirelessly and complement Jandor’s burning desire to see our dear Lagos live up to its full potential.”

Meanwhile, when she said her name at the end of the video, the Ikorodu-born indigene of Lagos didn’t include her husband’s name, Bello.

July 12, 2022 0 comments
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Headlines

APC Muslim-Muslim Ticket Is An Insult To Our Sensibilities’ — Lawyer

by Folarin Kehinde July 11, 2022
written by Folarin Kehinde

A Senior Advocate of Nigeria and Human Rights Activist, Ebun-Olu Adegboruwa SAN has strongly condemned the APC’s choice of Vice Presidential Candidate, describing it as a terrible choice in many ways.

Recall that earlier today, news broke that the APC Presidential Candidate, Bola Ahmed Tinubu has settled for Former Governor of Borno State, Sen. Kassim Shettima as Vice Presidential Candidate replacing Aliyu Masari, who was earlier picked as placeholder.

Adegboruwa in his response to the news in very strong terms condemned the choice of a Muslim-Muslim ticket urging Nigerians to reject the APC.

He said: “It is a terrible choice, in one million ways.

Nigerians, whether Muslims, Christians, Traditionalists, etc, should reject APC with their votes come 2023.”

According to him “A Muslim-Muslim ticket in present-day Nigeria is fuel for Boko Haram, incentive for ISWAP and a call for more terrorists.

Unless of course those parading the ticket are themselves complicit.

There is no better way to insult our sensibilities.

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BREAKING: Masari steps down as Tinubu’s running mate; APC flies Muslim-Muslim ticket

by Leading Reporters July 10, 2022
written by Leading Reporters

Ibrahim Masari has announced his resignation as running mate of the All Progressives Congress, APC, presidential candidate, Bola Tinubu in the forthcoming 2023 election.

Masari in a letter addressed to members of the APC on Sunday, announced his resignation.

The letter reads in part, “I had the singular honour and privilege of being nominated as the running mate to Asiwaju Tinubu last month after a keenly contested presidential primary ahead of the 2023 general election.

“After much reflection and wider consultations, I now wish to step down. I realised that my decision will enable Asiwaju to have more latitude to give more accommodation and inclusion that will position our party to win the coming elections, with the support of the people of Nigeria.”

Report has it that Tinubu has picked Senator Kashim Shettima as his running mate.

July 10, 2022 0 comments
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HeadlinesOpinion

Welcoming Datti Ahmed to Nigeria’s presidential race

by Leading Reporters July 10, 2022
written by Leading Reporters

By Tonnie Iredia

The Labour Party (LP) is fast positioning itself among the major political parties in the country. Its growing popularity further soared two days ago when it unveiled one outstanding Nigerian, Datti Baba-Ahmed as its vice presidential candidate. Datti, the founder and pro-chancellor of Baze university Abuja is a highly principled personality and well respected technocrat. Those who are close to him would readily testify that his unveiling was a pleasant surprise. After tenaciously rejecting Nigeria’s commercialized politics several times, not many expected that he would be one of the candidates in next year’s presidential election. There are at least two notable examples of his principled stand-point. The first was his refusal to participate in the recent presidential primaries of his previous party – the PDP.
 
His reason was that because all southern candidates gave way for their northern colleagues to be the only aspirants in 2019, it was morally wrong for northern aspirants like himself to come out again for the 2023 contest. The second example was his withdrawal from the latest Kaduna governorship primaries of his party on the ground that he could not stand the practice of bribing delegates. If so, why has Datti suddenly accepted the invitation by the Labour party? Does he not realize that it is hard to differentiate dirty party primaries from the plethora of electoral malpractices which happen during general voting? If the truth must be told, innovations by successive electoral bodies in Nigeria notwithstanding, a typical election in the country is essentially an ordeal in which several democratic norms and values are breached. This seems to explain the reluctance of well-meaning people to be part of elections in our clime.
 
Consequently, our elections which had been largely incredible have left the nation in a state of anomie. What the citizens get is usually excuses and buck-passing between the two major political parties, the All Progressives Congress APC and the Peoples Democratic Party PDP. The current ruling party, the APC says, for example, that it will take longer than can be imagined to redress the 16-year old damage done to Nigeria by the previous ruling party. Painfully, most of the APC chieftains who cherish this rationalization were themselves previously in the PDP. Some have left and returned more than once. Thus, every criticism that PDP now has for the current ruling party is exactly what the former opposition party levelled against the then ruling party in 2014. It’s like politicians are articulate when in opposition but clueless once in power.  The implication is that the difference between the APC and the PDP is the same as the difference between six and half a dozen.
 
Whereas chieftains and acclaimed numerous supporters of the two large parties are likely to continue to vote for them, the average citizen who is tired of both the APC and PDP ought to be given an opportunity to have other alternatives from which to make a choice. This is why the emergence at the national scene of the Labour Party and the New Nigeria Peoples Party (NNPP) which appear to have brought forth some viable candidates is salutary.  The Labour Party in particular ought to be commended for unveiling a sound joint-ticket of two outstanding Nigerians of the same ideological inclination. For some time now, Peter Obi the party’s presidential candidate has been trending because of his well-known prudence and accountability. His vice, Datti Baba-Ahmed was a delight to watch on national television a few hours after his unveiling, hitting the right points.
 
For the benefit of those who did not watch the interview of Labour’s vice presidential candidate, I will endeavour to restate a few pertinent points he made. He started by drawing attention to the transparent compatibility between himself and his presidential candidate affirming that both of them were destined to rescue and fix Nigeria. So, our people can rightly ignore any excuses of incompatibility from either of them in future. Datti at a point likened the Labour Party to a fast moving train that cannot be halted as was recently done to the Abuja-Kaduna train whose passengers are yet to complete their two-hour trip after more than 100 days. He also announced that the day his party gets into power, would signal the end to the old order of inflation of government contracts adding that the hitherto stolen or misappropriated resources would be expended on people-oriented policies and programmes. It is therefore with excitement that i welcome on behalf of my readers, Senator Datti, Baba-Ahmed, LP’s vice presidential candidate to the 2023 contest.
 
It is not impossible that some smart politicians would make lofty promises that they don’t intend to fulfill.  The beauty of Datti’s outing however is that it did not take the usual form of coloured circumlocutory political diction. Rather it was a set of clear, concise and patently persuasive statements made with a commercial mindset. But most importantly, Datti established that his rather quiet disposition cannot be used to portray him as a new comer to the political scene. The Kaduna State-born economist was a legislator far back in 2003 when he won election to represent Zaria Federal Constituency in the House of Representatives. From 2011-2102, he served as a senator for Kaduna North under the Peoples Democratic Party (PDP). He was also a presidential aspirant under PDP in the colourful Port Harcourt convention of 2019 and before his recent defection on moral grounds, he was among the aspirants who jostled for the governorship ticket in Kaduna State.
 
   
Following the rise of the LP, other political parties would definitely buckle up, making it easy for Nigeria to witness keener contests unlike before, when some big guys were always able to overwhelm candidates of infantile parties to ‘win’ elections in many polling centres where voting did not even hold. In other words, with the presence of popular rivals, our elections would be more credible because more candidates who would be eager to defeat the new men of ideas would tighten their belts and follow the path of issue-based political campaigns. Of course, there are a number of people in the old parties who would do better if they are challenged. As a result, we need to succinctly underscore the point that since 1999 when this democratic era began, Nigeria, has had only one large and rather invincible political party with two identical branches, hence they have over the period succeeded in rotating among themselves, the baton of exploitation.
 
While it is rational to advocate for keen and clean contests, it is hoped that such mature politics would dominate the forthcoming period of electioneering. In which case, the current trend of heating up the polity with defamatory messages especially in the social media should stop. Stories about anomalies in certain academic certificates, dates of births and other claims cannot help our voters to understand the process. Whereas party supporters cannot be stopped from propagating the popularity of specific political candidates through road shows and processions, the nation’s unending underdevelopment suggests that Nigerians need to hear not only the plans and promises of political parties, but also lucid explanations of how the promises and plans are to be fulfilled. This is crucial if the nation’s stunted growth is to end.
 
This is not to say that persons who have fake documents or any other legal disability should be spared because such persons are also likely to be fraudulent with power. But such anomalies should be tested in court and those found wanting excluded from the process. For example, in Delta state, on account of certain allegations, PDP’s governorship candidate was disqualified. Those who are dissatisfied with the decision should follow the judicial process to the end without canvassing the subject at violent campaign venues. Similarly, it will be counterproductive to convert several allegations of wrongful substitution of candidates in the APC or elsewhere into campaign issues, because they can drown the substantive issues of getting politicians to enunciate their election promises and how they would be fulfilled so that voters can make informed decisions.

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