Friday, June 23, 2017

Even 9ice Got it Wrong

In relation to the song by the Gongo Aso crooner, 9ice whose song has once again cooked a parlance to revitalize his street credibility with the popular Yoruba proverb 'olé lo b'òmóje, kin sa ti lowo' (money by fire by force creed except for stealing/theft) phrase in his living things track, which many classify as the new scam anthem (yahoo anthem).

Contrary to his perceived perception and the conventional outdated believe that stealing is the only crime any person can commit that may permanently defile the reputation culled overtime, the Nigerian concept has rebranded the whole ethical narrative where stealing conventionally tarnishes one's image completely in the past. This I must say is very unlikely in this present state, where criminals become the godfathers, role models and our pacesetters in the political arena.

It is simply what the world has metamorphosed into, we don some level of unquantifiable regard for looters and glorified criminals who have milked dry our national resources, yet we choose to believe we are ploughing the safe route for national redemption. Quite unlikely.

Sadly that's the modern day society we now dwell, where even stealing and corrupting is canonized across the galleries. More recently, a notorious kidnapper, Evans, garnered many sympathetic messages across the social media probably due to his kind gestures across his immediate society and people at large, but notwithstanding it's all a case of rallying facts to suit sentiments.

It is a shame how this aptly define the society we now find ourselves and Mr Abolore Adigun Ajifolajifaola aka 9ice should be told that stealing and corrupting are the new peak in the society. The people will continue to think very highly of criminals so long they don't get caught. Nigeria; a nation that has sailed into a complete Ethical drift. But I'll say they should remember the popular police saying that: if you can't do the time, don't do the crime.

Tuesday, June 20, 2017

Obafemi Awolowo Speaks: Still Settling The Records Straight!

Obafemi Awolowo speaks:

Still Setting The Records Straight!


Moderator: Yes Mr…….Mr. Oparadike.

Question: Chief Awolowo, your stand on the civil war, however unpopular it may have been to the Biafran people…Your stand on the civil war, however unpopular it may have been to the Biafrans or Ibo people, helped to shorten the war. Today, you’re being cast as the sole enemy of the Ibo people because of that stand, by among others, some of the people who as members of the federal military government at that time, were party to that decision and are today, in some cases, inheritors of power in one Nigeria which that decision of yours helped to save. How do you feel being cast in this role, and what steps are you taking to endear yourself once again to that large chunk of Nigerians who feels embittered.

Awolowo: As far as I know, the Ibo masses are friendly to me, towards me. In fact, whenever I visit Iboland, either Anambra or Imo, and there’s no campaigning for elections on, the Ibo people receive me warmly and affectionately. But there are some elements in Iboland who believe that they can maintain their popularity only by denigrating me, and so they keep on telling lies against me. Ojukwu is one of them. I don’t want to mention the names of the others because they are still redeemable, but ….Ojukwu is irredeemable so I mention his name, and my attitude to these lies is one of indifference, I must confess to you.
I’ve learnt to rely completely on the providence and vindication of Almighty God in some of these things. I’ve tried to explain myself in the past, but these liars persist. Ojukwu had only recently told the same lie against me. What’s the point in correcting lies when people are determined to persist in telling lies against you, what’s the point. I know that someday the Ibos, the masses of the Ibo people will realize who their friends are, and who their real enemies are. And the day that happens woe betide those enemies. The Ibos will deal with them very roughly, very roughly.
That has happened in my life. I have a nickname now, if you see my letterhead you’ll find something on top, you’ll find a fish done on the letterhead. Some people put Lion on theirs, some people put Tiger, but mine is Fish. And Fish represents my zodiac sign, those of you who read the stars and so on in the newspapers; you’ll find out that there’s a zodiac sign known as pieces, in Latin pieces mean Fish.

So I put pieces on top, that’s my zodiac sign being born on the 6th of March,….er well, the year doesn’t matter, it’s the day that matter. And then on top of it I write Eebudola. All of you know the meaning of that. You know I don’t want to tell a long story but………………Awolowo school, omo Awolowo, the…… started in Urobo land, in mid-west in those days. They were ridiculing my schools, I was building schools –brick and cement, to dpc level, block to dpc level and mud thereafter. And so the big shots in the place..”ah what kind of school is this? is this Awolowo school? Useless school” and when they saw the children..”ah this Awolowo children, they can’t read and write, Awolowo children” that’s how it started, with ridicule, and it became blessing, and now they say “Awolowo children, they are good people” no more ridicule about it, that’s how it started, so the Eebu becomes honor, the abuse became honor.

And so when I look back to all my life, treasonable felony, jail, all the abuses that were heaped on me, to Coker Inquiry, all sorts, and I see what has happened to the people who led, who led all these denigration campaign, where are they today? Those that are alive are what I call Homo Mortuus- dead living, oku eniyan, that’s what they are, those that their lives have gone.

So when I look back, I come to the conclusion that all these abuses which have been heaped on me all my life for doing nothing, for doing good, they have become honor, and so Eebudola is one of my nicknames. So I’ve cultivated an attitude of indifference, I’ve done no evil to the Ibos.
During the war I saw to it that the revenue which was due to the Iboland- South Eastern states they call it, at that time..East Central State, I kept it, I saved the money for them. And when they ….was liberated I handed over the money to them- millions. If I’d decided to do so, I could have kept the money away from them and then when they took over I saw to it that subvention was given to them at the rate of 990,000 pounds every month. I didn’t go to the executive council to ask for support, or for approval because I knew if I went to the Executive Council at that time the subvention would not be approved because there were more enemies in the Executive Council for the Ibos than friends. And since I wasn’t going to take a percentage from what I was going to give them, and I knew I was doing what was right, I wanted the state to survive, I kept on giving the subvention – 990,000 almost a million, every month, and I did that for other states of course- South eastern state, North central state, Kwara and so on.

But I did that for the Ibos, and when the war was over, I saw to it that the ACB got three and a half million pounds to start with. This was distributed  immediately and I gave another sum of money. The attitude of the experts, officials at the time of the ACB was that ACB should be closed down, and I held the view you couldn’t close the ACB down because that is the bank that gives finance to the Ibo traders, and if you close it down they’ll find it difficult to revive or to survive. So it was given. I did the same thing for the Cooperative Bank of Eastern Nigeria, to rehabilitate all these places, and I saw to it as commissioner for finance that no obstacle was placed in the way of the ministry of economic planning in planning for rehabilitation of the war affected areas.


That’s what I did, and the case of the money they said was not given back to them, you know during the war all the pounds were looted, they printed Biafran currency notes, which they circulated, at the close of the war some people wanted their Biafran notes to be exchanged for them. Of course I couldn’t do that, if I did that the whole country would be bankrupt. We didn’t know about Biafran notes and we didn’t know on what basis they have printed them, so we refused the Biafran note, but I laid down the principle that all those who had savings in the banks on the eve of the declaration of the Biafran war or Biafra, will get their money back if they could satisfy us that they had the savings there, or the money there. Unfortunately, all the banks’s books had been burnt, and many of the people who had savings there didn’t have their saving books or their last statement of account, so a panel had to be set up.

I didn’t take part in setting up the panel, it was done by the Central bank and the pertinent officials of the ministry of finance, to look into the matter, and they went carefully into the matter, they took some months to do so, and then make some recommendation which I approved. Go to the archives, all I did was approve, I didn’t write anything more than that, I don’t even remember the name of any of them who took part. So I did everything in this world to assist our Ibo brothers and sisters during and after the war.

And anyone who goes back to look at my broadcast in August 1967, which dealt with post-war reconstruction would see what I said there.


Then, but above all, the ending of the war itself that I’m accused of, accused of starving the Ibos, I did nothing of the sort. You know, shortly after the liberation of these places, Calabar, Enugu and Port Harcourt, I decided to pay a visit. There are certain things which I knew which you don’t know, which I don’t want to say here now, when I write my reminisces in the future I will do so. Some of the soldiers were not truthful with us, they didn’t tell us correct stories and so on.

I wanted to be there and see things for myself, bear in mind that Gowon himself did not go there at that time, it was after the war was over that he dorn himself up in various military dresses- Air force dress, Army dress and so on, and went to the war torn areas. But I went and some people tried to frighten me out of my goal by saying that Adekunle was my enemy and he was going to see to it that I never return from the place, so I went.

But when I went what did I see? I saw the kwashiorkor victims. If you see a kwashiorkor victim you’ll never like war to be waged. Terrible sight, in Enugu, in Port Harcourt, not many in Calabar, but mainly in Enugu and Port Harcourt. Then I enquired what happened to the food we are sending to the civilians. We were sending food through the Red Cross, and CARITAS to them, but what happen was that the vehicles carrying the food were always ambushed by the soldiers. That’s what I discovered, and the food would then be taken to the soldiers to feed them, and so they were able to continue to fight. And I said that was a very dangerous policy, we didn’t intend the food for soldiers. But who will go behind the line to stop the soldiers from ambushing the vehicles that were carrying the food? And as long as soldiers were fed, the war will continue, and who’ll continue to suffer? and those who didn’t go to the place to see things as I did, you remember that all the big guns, all the soldiers in the Biafran army looked all well fed after the war, its only the mass of the people that suffered kwashiorkor.
You won’t hear of a single lawyer, a single doctor, a single architect, who suffered from kwashiorkor? None of their children either, so they waylaid the foods, they ambush the vehicles and took the foods to their friends and to their collaborators and to their children and the masses were suffering. So I decided to stop sending the food there. In the process the civilians would suffer, but the soldiers will suffer most.


And it is on record that Ojukwu admitted that two things defeated him in this war, that’s as at the day he left Biafra. He said one, the change of currency, he said that was the first thing that defeated him, and we did that to prevent Ojukwu taking the money which his soldiers has stolen from our Central bank for sale abroad to buy arms. We discovered he looted our Central bank in Benin, he looted the one in Port Harcourt, looted the one in Calabar and he was taking the currency notes abroad to sell to earn foreign exchange to buy arms.

So I decided to change the currency, and for your benefit, it can now be told the whole world, only Gowon knew the day before, the day before the change took place. I decided, only three of us knew before then- Isong now governor of Cross River, Attah and myself. It was a closely guarded secret, if any commissioner at the time say that he knew about it, he’s only boosting his own ego. Because once you tell someone, he’ll tell another person. So we refused to tell them and we changed the currency notes. So Ojukwu said the change in currency defeated him, and starvation of his soldiers also defeated him.

These were the two things that defeated Ojukwu. And, he reminds me, when you saw Ojukwu’s picture after the war, did he look like someone who’s not well fed? But he has been taking the food which we send to civilians, and so we stopped the food.


And then finally, I saw to it that the houses owned by the Ibos in Lagos and on this side, were kept for them. I had an estate agent friend who told me that one of them collected half a million pounds rent which has been kept for him. All his rent were collected, but since we didn’t seize their houses, he came back and collected half a million pounds.

So that is the position. I’m a friend of the Ibos and the mass of the Ibos are my friends, but there are certain elements who want to continue to deceive the Ibos by telling lies against me, and one day, they’ll discover and then that day will be terrible for those who have been telling the lies.

SOURCE: Nigeria Village Square.

Friday, June 09, 2017

Speech Delivered By The Deputy Governor of CBN, Mr Adebayo Adelabu


I am most delighted to be here this morning on the historic event of the commissioning of the completed CBN 2013 intervention projects, the Construction of a Library, Classrooms and Offices for the Oyo State Technical University Ibadan, Oyo State.

There is no gainsaying the fact that education is a bedrock for development and lifting people out of poverty. Nigeria is experiencing an acute shortage of high quality and world class educational institutions. For instance, the highest ranked university in Nigeria, according to The Times Higher Education World University Rankings for 2017, placed University of Ibadan (UI) as 801 out of the 980 universities surveyed worldwide. It is instructive to note that UI, although it came first in Nigeria in the Rankings, was ranked behind a number of South African universities.

Perhaps this is why there has been a surge in the number of Nigerian students going abroad to seek for quality education. This however has implications for the demand for foreign exchange and supply of qualified personnel to support the productive capacity of the country. We are all witnesses to what a combination of a high foreign exchange demand and low productive capacity can do to a country. There is no way we can separate these problems from the core mandates of the Central Bank of Nigeria. This is why we cannot all continue to fold our arms.

Our primary mandate at the Central Bank of Nigeria includes maintenance of price and exchange rate stability, functional and stable financial system, effective payment system and credible currency. At the heart of all these is achieving economic growth and development in collaboration with the Fiscal Policy authority. This behooves on us the responsibility for development financing through regular intervention in the critical sectors of the economy of which education is one, to bridge the manpower and infrastructural deficits accumulated over time.

It is against this background that the Central Bank of Nigeria commenced its intervention programmes in the education sector. It is worthy of note that Oyo State University is one of the seven Tertiary Institutions in 2013 which benefited from the intervention programme of the Central Bank of Nigeria as part of the Banks development function and the need for capacity building for the achievement of Vision 20, 2020 of the Federal Government. The intervention becomes more apt, especially, at this time of the rise in digital knowledge economy.

Having recognized Ibadan and Oyo state in general as a socio-political and educational head quarter of the South Western region, given its past role in the south west regional development and potential role it can still play in the general economic integration of the South West region, the state in the past three years has benefited from various intervention projects of the Central Bank of Nigeria. These include:

1. Building infrastructure for the University of Ibadan Center of Excellence for post graduate studies in Economics, Finance and Banking which cost about N10Billion .
2. Post Graduate Hostel building at the University of Ibadan which cost about N5billion.
3. Total Re-development of Classroom and Office infrastructures at the Bishop Philips Academy Secondary School, Iwo road Ibadan.
4. Establishment of the South West Regional Entrepreneur Development Center (EDC) in Oyo state at Samonda, Ibadan with quarterly financial support from the CBN for the running of the center.
5. Building of Lecture Rooms, Offices and State of the Art E-Library for the new Oyo State Technical University (which we are commissioning today).

In addition, there are a few other proposed intervention projects already listed for the state and at advance stage of approval to be executed over the next three years. These include:

1. Development of Lecture Rooms and Hostel facilities for the Polytechnic of Ibadan to cost about N3.5bilion.
2. Total Renovation and Building of New classrooms, Library and Technical and Science Laboratories for Lagelu Grammer School to cost about N500million.
3. Building of a Cancer Center or Modern Diagnostic Center for the University College Hospital (UCH), Ibadan.

In line with the Public Procurement Act, the contract for the Construction of the buildings was awarded in 2013 to Messrs Harrison George Nigeria Limited.

The projects for commissioning today which is located on the main campus of the institution involved the Construction of the following;

1. A fully furnished Library and E-Library complex.
2. A fully furnished Administrative and Classroom Block.

The project was completed in December, 2016 and handed over to the beneficiaries on the 20th April, 2017.

Though the project had its temporary setbacks, the Project Management Team comprising the Bank’s Project Implementation Office and the Consultants together with the contractor were able to complete the project, which is what made it possible for commissioning today.

It is therefore heartwarming that today, the beneficiaries including staff and students of the University will begin to make use of the buildings and derive the full benefits for which the project was intended.

I want to take this opportunity to express the hope that the University Management will adopt the necessary maintenance culture to keep the buildings and equipment in pristine condition so that the buildings and equipment will be available for use for many more years to come.

It is clear that Government cannot fund Education alone. The private sector equally has very important roles to play. Tertiary institutions are supposed to be the drivers of Research and Innovation relevant to Industry and Commerce. Research success will in turn attract funding. There are no limits to what heights are attainable with Creativity, Innovation and Hard Work. This intervention project is in fulfillment of the Central Bank of Nigeria’s commitment to developing capacity in tertiary institutions in the Country to bring about the desired change in our socio-economic fabric.

Finally, I wish to congratulate the State Governor and his team, the Pro-Chancellor, the Vice Chancellor, the Staff and Students of the University and the entire people of Oyo State on this occasion and to convey the best wishes of the Governor and Board of the Central Bank of Nigeria to the State Governor and Management of the University.

Thank you.

Adebayo Adekola Adelabu FCA, FCIB
Deputy Governor, Operations
Central Bank of Nigeria


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