DEATH OF A PRESIDENT IN TOGO AND EXTRA CONSTITUTIONALITY

The people of Anambra State have spoken: Now let’s get to work! 02/13/2010

Vox populi, vox Dei – The voice of the people is the voice of God. Governor Peter Obi has been reelected and the victory goes to the people of Anambra State of Nigeria, whom inspite of the obstacles turned out to elect the candidate they believed in. In a free society, power comes from people and the people have spoken. Democracy is about the market of ideas and the person that is able to convince the electorate wins the election.

This is a fresh and new mandate for Peter Obi; obviously he was distracted in his term with interrupted impeachment and trials. But with this victory the people have spoken and empower him to lead them for the next four years. This is not time for revenge or resting in his laurels but an opportunity to complete what he has started. A time for hard work; A time to talk less but definitely a time for action and to deliver the promises he made to the voters. The people put their destiny and trust in the hands of Governor Obi and he must reciprocate by doing the people’s business.

The possibility that Anambra State might live up its motto: The light of the Nation – is emerging. The politics of Anambra State might spearhead the revitalization of Nigeria’s polity. Let’s get this right, nobody is saying that the election was a utopia without hitches. But far from the truth, this is the best so far and this is a good beginning. There was absence of violence and intimidation at the polling stations. Although there were some hiccups especially with the absence of names of the voters together with the lateness of some of the polling stations. But it we can make a fair assessment by generally saying that election was credible. Yet there remains a room for improvement, as this can become a foundation to build on. The INEC can learn from this as a case study as they get ready for the 2011 general election.

Governor Peter has to be humble at his victory and he is a thoughtful person. He should extend his hands of amity to his competitors and invite them to aid in building a great state. The campaigns and election are over and time to start planting crops has come! There are many challenges, problems and opportunities in our state. Governor Obi has to take the bulls by its horns and live up to the expectation and mandate from the people.

There are numerous problems in the Anambra State which begs for leadership and pragmatism. First and foremost, he must tackle issue of kidnapping and armed robbery enterprise. The most important function of a government is the protection of life and property. The governance must be creative in arresting unemployment that is culprit to the criminal behaviors. Public sector does not necessarily create jobs but formulate policy and liberalize environment that enable private sector to create jobs.

The pressing issues of erosion gullies must be confronted before it reclaim a sizeable landmass of the Anambra State. This is a serious matter and must treat as such without politicization and polarization from the federal government. The proliferation of water boreholes is not the panacea to paucity of safe drinking water. The new government must embark on provision of tap water in the rural and urban centers. The digging of the soil for water wells might increase the vulnerability of the soil to erosion. The underground water might be exposed to the toxic and hazardous nature-occurring materials which is carcinogenic.

Let us not forget Onitsha the commercial nerve center of Anambra state and indeed Nigeria. During the campaign Obi promise to transform Onitsha to a functional city; Yes! We must hold him to his promise. The management of solid waste collection and disposal in the city must be upgraded. The littering must be controlled with reliable best management practice. The new government must institute a modern sewage treatment plant and operations not just in Onitsha but in the rest of the state. The state may not have the adequate resources for all the projects but the most intrinsic social capital is the political will.

Due to inefficiency of the electric power authority, neighborhoods at nights were engulfed with coagulated darkness: Therefore the street lights of Anambra State especially Awka and Onitsha should be powered with inexpensive solar panels.

The people of Anambra State have suffered long enough in the hands of poor leadership and mismanagement. This is the time for liberation. With the support and loyalty of the people, Governor Peter Obi is capable of delivering and this is the beginning of a new day. May God Bless Anambra State, Nigeria!

Prince Charles and Rainforest Fund: Protecting African ecosystem by swapping debt 01/04/10

Prince Charles of Wales a longtime advocate of rainforest protection has taken pragmatic steps by setting up an emergence rainforest fund with thirty five countries. The targeted goal is to put in $22 billion to up to $36 billion in the fund to save rainforest and reduce the raging deforestation rate especially in the poor countries.

This is a noble project and deserves the attention it received. The task of protecting rainforest cannot be left to poor countries in the southern hemisphere that lack the means and resources to stop the cutting down of tress. In the tropical rainforest the forest have become source of energy for domestic consumption. Tresses are cut down to be used as fire woods for cooking, medicine and nutrition. While governments cut down tresses for export in order to generate foreign currency.

This fund can play a vital role to save the Africa’s ecosystem but Prince Charles and the fund managers have to be creative in disbursing the money. African debt cancellation can become the tool to save the forest in the region. The Rainforest Fund can promise and implement debt reduction scheme: Outright debt cancellation when African countries are willing to implement the requisite criteria to save the forest. Simply swapping debt for forest protection can help to curtail rate of deforestation in Africa.

“In Africa today, tropical forests and rangelands are under threat from population pressures and systems of land use. Generally apparent effects of these threats include loss of biodiversity, rapid deterioration in land cover, and depletion of water availability through destruction of catchments and aquifers. Changes in climate will interact with these underlying changes in the environment, adding further stresses to a deteriorating situation. A sustained increase in mean ambient temperatures beyond 1EC would cause significant changes in forest and rangeland cover; species distribution, composition, and migration patterns; and biome distribution.”

In this trouble time of global warming and climate change, forest can aid in the reduction of carbon dioxide, the culpable greenhouse emission gas that contributes to global warming. During photosynthesis which is the process for plant to manufacture food, the carbon dioxide is taken in and oxygen is given out. Therefore the excessive carbon dioxide in the atmosphere can be reduced and global warming can be controlled. It is important to save the forest and have enough of it to make an impact on the reduction of carbon dioxide and global warming.

The 25% goal of reducing the destruction of tropical rainforest by 2015 is plausible when African forest is protected because “deforestation is responsible for almost 20% of global carbon emission.”

Task of contributing such a large amount of money for the Rainforest Fund can be difficult with the global economic recession but it is imperative that destructive effects of global warming must be slowed down before it becomes irreversible and irrecoverable.

Managing and implementing a successful micro financing in Anambra State 12/15/09

The government of Anambra State, Nigeria and Access Bank a local financial institution have recently lunched 2.5 Billion Naira microfinance project. This is good news coming from Anambra State that is bedeviled with high unemployment and capital flight. “Access Bank Plc, a Nigerian commercial bank, has agreed to work with the Anambra state government to launch the state’s first microfinance scheme, by providing an equivalent of USD 16.5 million to selected microfinance institutions (MFIs) within the month. State Governor Peter Obi plans to set up workshops at the local government level throughout the state, in order to monitor progress and train operatives on “effective operation of the scheme.” The petty traders and small scale merchants can get small loans based on their worthiness of character without the conventional collateral and security.

Access Bank and Anambra State must be applauded for this important project. The issues of credit and liquidity availability are the major problems confronting small business in Anambra State and Nigeria. It is not news that the people of Anambra State are business orientated with industrious and enterprising spirit. But issue of finance can become a hindrance in starting and sustaining a business venture. Therefore with the presence of micro financing the lines of credit will become avaliable to the serious merchants and traders in the state.

Governor Peter Obi “has also organized a committee, consisting of himself, representatives of the Access Bank, the Central Bank of Nigeria, microfinance bank operators, and others, who will oversee the program. The criteria for taking out a loan are not based on assets or collateral, but on “proven good character of the borrower.” The MFIs receiving funds are restricting the maximum amount that can be loaned to an individual to be equivalent to USD 3,294.”

The problems of unemployment do contribute to kidnapping and armed robbery phenomenon in the state. The youths and young men must be encouraged to start small businesses and they can be persuaded to attend trade schools. Guarantees must be given to the youths that loans and credits must be extended to them at the completion of the trade schools. This can help to curtail delinquency and idleness among some of our youths who are likely to engage in criminal behaviors. The micro financing scheme can become a possibility in fighting crimes and unemployment in the state. But we must be careful not to over stretch the project for government does not necessarily create jobs but formulate policies with enabling environment that makes job creation possible by the private sector. The prime reason for the micro financing is to provide the needed credits to small and petty traders who do not have the collateral and expertise to get loans from commercial banks.

The chairman of the State Committee on Microfinance, Mr. Eze Echesi is capable of doing a good job for the people of Anambra State. Echesi have to assemble a committee of experts and technical advisers from all walks of life especially traders and merchants to aid him in implementing and running a successful micro financing entity. The Governor of the State Peter Obi who is a successful businessman can be of a great help and adviser to the chairman of the project.

The great thing about micro financing is the ability to directly work with the people at the grassroots; the regular day-to-day traders on the street corners and at village market place. The women in Eke market of Umuoji or Nkwo market of Nnewi and similar towns are the reasons that brought about micro financing in the first place and they are the ones that need credit to run their tiny and mini-business outlets. The danger with the project is that it can become a patronage to favor political ally and well connected in the state. This can be a major problem associated with government involvement. The government joint partner with a commercial bank can become deterrence to such a self-defeating purpose.

A major barrier that might delay the dispensing of a loan is the evaluation and quantification of credit worthiness of the borrower. Most of the petty traders are semi-literates and are not keen to record keepings and documentation of daily transactions. The issues of logistic and location must comes into play therefore the managers of the project must go to the customers, for some of these traders do not have reliable transportation and fares to go to the offices of the loan management. Mass media enlightenment becomes imperative to educate the traders on awareness of the program.

Anambra State government must set benchmarks with deadlines on the project. The government must set a goal and purpose especially what they intend to accomplish with the scheme in next 5- 10 years with regards to business creation and reduction of unemployment in the state. The micro financing cannot be cosmetic and superficial but realistic and pragmatic venture with promising affirmative results to ameliorate the wellbeing of citizens of Anambra State.

Madonna and Malawi: Beyond blond ambition 11/28/09

Madonna has ventured into a project in Malawi, a country in Southern Africa that says more about her character than her worldly perception. The project - Raising Malawi- was initiated by Madonna with a partner that is dedicated in contributing to the well being of less privileged women and children of Malawi. Madonna who was known as a material girl was projected as being mundane by the media. But with this African venture she has defined herself and show to the whole world what is important to her. Family, children and philanthropy are the core and at center of Madonna’s life.

She is now building a modern Academy school for girls in Malawi while caring for AIDS orphans. According to her the Academy school can become a model for girl schools in Africa. Madonna’s love for Malawi started when she adopted a boy from Malawi, since then she has adopted a girl from the country. Madonna was known for being compassionate but this strategic move on her part was unexpected. Thinking in the line of uplifting the poor by laying a strong foundation for scholarship and education is a strategic move. By providing education to the less privileged girls of Malawi she had opened a door of opportunity and empowerment that cannot be taken away from them.

No type of philanthropic effort that can be undermined nor underrated but some are more durable and everlasting than others. When you feed a hungry person, it is a noble gesture. But when you give a poor person a skill, you have changed the life. When the poor can feed herself especially in developing world the significance is enormous. Instead of the continuous lecture about caring for the poor, Madonna is doing something about it. African leaders will receive thousand of recommendations on how to eradicate poverty but a Madonna is taking the step to change the lives of young girls. By empowering these young girls the entire village has been empowered. Education is the greatest tool to eradicate poverty for it will enable the recipient to think wisely and venture into the world without ignorance and illiteracy.

The greatest strike against young girls of Africa is lack of opportunity, in some instances they are compelled to start working at every tender age. As a result of poverty and lack of opportunity, girls and boys could not even attend primary school in some parts of Africa. When young minds are condemned to life of ignorance, they dwell in darkness and abject poverty.

Madonna deserves a lot of credit for helping the poor of Malawi and it shows the content of her character. Madonna, one of the greatest musicians of our time and Hollywood actress do not have to put her money, time and prestige to help a nation that is very far away. But she has compassion and love on the suffering children and blighted youths. Instead of calling meetings and conferences she set a project in motion to solve the problem the best way she can. She put her money where her compassion was and by so doing pushed our collective humanity to a brighter corner.

Poverty and lack of opportunity have destroyed lives of children in Malawi and Africa. Madonna project in Malawi involved helping thousands of children that were orphaned by AIDS. These children need somebody to help and guide them. Nobody is saying that Madonna is an angel but she done something that only a person with the fear of God will do.

Education and healthcare will bring a great beginning for the children of Malawi and Africa. Madonna has become part of the solution and this is a victory for the children of the world.

Prof. Chukwuma Soludo: Re-education and the making of a governor 10/20/09

The former executive governor of Central Bank of Nigeria, Professor Chukwuma Charles Soludo just won the primary election or was nominated as a concord candidate for governorship election for Anambra State, Nigeria under the auspices of People’s Democratic Party (PDP).

Professor Soludo a trained economist is academically brilliant; a first class intellectual with a superior mind. He attended one of the most prestigious Nigerian universities, University of Nigeria, Nsukka. Soludo is a core professional expert in the field of macroeconomics. "He obtained his three degrees and then professorship at the University of Nigeria in Nsukka, Enugu State. He graduated with a First Class Honors degree in 1984, a M.Sc. Economics in 1987, and a Ph.D. in 1989, winning prizes for the best student at all three levels. He has been trained and involved in research, teaching and auditing in such disciplines as the multi-country macro econometric modeling, techniques of computable general equilibrium modeling, survey methodology and panel data econometrics, among others. Soludo studied and taught these courses at many Universities, including Oxford, Cambridge and Warwick. He has co-authored, co-edited and authored about ten books on this subject matter."

His middle name - Charles has been silenced and parked since the African enlightenment of Soludo, which I believed happened after becoming the governor of Central Bank of Nigeria.

Professor Soludo came into the limelight in May 29, 2004 when he was appointed the executive governor of Nigeria's apex bank by the former president of Nigeria, Mr. Olusegun Obasanjo. His governorship tenure at central bank of Nigeria elapsed in May 29, 2009. He was not reappointed by the current President Umaru Yar’Adua.

Credibility

Apart from the financial management of banking system in Nigeria, the prime duty of governor of Central Bank of Nigeria is to guide and direct the monetary affairs of the nation by the utilization of the monetary policy at his disposal. Professor Soludo came to the job with an utmost discipline and vision grounded on financial and economic empirical fundamentals that he utilized to reshape and rebuilt Nigeria's chaotic and declining banking sector.

He initiated and became the chief architect of a comprehensive reform: Prof. Soludo championed and implemented the banking reform which involves massive consolidation of the banking sector. The transformation of the financial houses combated profligacy and ushered in a sound banking system. He also did a great job on taming and controlling inflation that has become a detrimental force on the economic and financial landscape.

Shortly after his reforms, affirmative results commence to pour in. The Banker Magazine, an arm of the Financial Times Group released its world renowned Top 1000 World Banks ranking for 2006 and on the list were nine Nigerian Banks: First Bank, Union Bank, Zenith International Bank, IBTC Chartered Bank, Intercontinental Bank, Spring Bank, GT Bank, First Inland and Oceanic Bank.

According to the magazine, the increase in the number of Nigerian banks in this global 1,000 listing is "due to the consolidation that has taken place in the banking sector in Nigeria since 1st January 2006 and the creation of larger banking institutions with a minimum capital requirement of N25 billion." Although (Maybe) Soludo inability or failure to keep an eye on some of the big Nigerian Banks have left many of the consolidated banks now charged with corruption and abuse of banking principles. These banks are currently under investigation by the new CBN boss Mr. Sanusi Lamido Sanusi. The outcome of this investigation will certainly affect and may even complicate how Professor Soludo moves forward in his quest for the governorship mansion in Awka.

In a statement released, The Bankers magazine said the "object of the survey is to show the banks' soundness in relation to the Basel requirement of a minimum Tier 1 capital on risk-weighted assets of 4 per cent, and a minimum ratio of capital to risk-weighted assets of 8 per cent." Professor Soludo deserved the limelight he received because the reform was his brainchild.

Also during his tenure, the rate of exchange of the Nigerian naira to the United States dollar merged at both the official and parallel (black) markets for the first time in 20 years. The currency exchanged at N129 to $1 and N128.6 to $1 at the black and official markets respectively.

Prof. Soludo, then Governor of central bank of Nigeria said, "We are happy to have rebound the trend where the official market used to chase the black market but now it is the black market chasing the official market."

Shortcomings

Soludo nearly perfect record during his tenure maybe scratched by the new revelation and investigation by the new CBN chieftain Mr. Sanusi Lamido Sanusi that exposed the corruption on the banking system especially the unpaid debt owned to many banks that ultimately led to the liquidation of five major banks. Professor Soludo in order to regain his dignity and credibility on this issue has to disclose to Nigerians what happened - what he knew and when he knows it. But the observers cannot accuse him or hold to a perception that he knew something or did anything wrong pending the outcome of the investigation. Whatever the case might be, he can still be counted as one of the best CBN chiefs.

Although his excellent application of monetary policy helped to controlled inflation but it failed to reduce unemployment. The issue of employment is probably has little to do with his office.

Re-education

To be a successful politician, Professor Soludo cannot afford to be too professorial but pragmatic, energetic with common sense approach to problems and challenges of leadership. The challenges faced by a governor of a state are different from that of CBN boss and university professor. But it is not mutually exclusive or unique for that matter. Problem solving requires a level of intellectual tenability and approach that a sound education can make accessible.

As a CEO of a state you must know how to conduct and meander around daily challenges of the position including the undeniable godfathers and sycophants. Nigerian politics is complex and Anambra State is more complex with its intractable problems of kidnapping, violence and blackmailing. Soludo must engineer his mind in order to be capable to confront these problems. The personality composite of Onitsha-main-market-trader, street smart and Wall Street managerial ability are condiments needed for governance in Anambra State. A true leader must seek the support and solace from the populace and endeavor to be a true servant of his fellow citizens.

When (if) Soludo makes it to the Awka statehouse and delivers to the needs of his people. He will not only win the hearts and minds of Anambra state, but Nigeria as well. Then Prof. Chukwuma Soludo ambition will be limitless.

TEN YEARS OF DEMOCRACY IN NIGERIA 06/08/09

A democratic process is a marathon race that takes a long time to be evaluated. It will be premature to postulate the failure of democracy in Nigeria for ten years is such a limited time to quantify the well being of democratic life in the country. In this journey there are pitfalls on the way but I am an eternal optimist and greatly bullish on democracy. The democratic system of government have served so many countries well and there will be no reason while Nigeria will be an exception. One thing must be made perfectly clear; democracy is about the people not only about the political leaders, the people must be allowed to fully participate in process for a gainful and meaning result.

Nigeria is lacking the civil infrastructure and architecture for the implementation of the process. But lately our civil society and the courts are rising to the occasion. There is hope and there is a light at the end of the tunnel. It might appears hopeless because the leaders and political parties are obsessed about winning elections. But democracy is not only about election although it is an integral part of the process; election is a means to an end and not the end itself.

Education must play a vital role in the democratic process, the public and leaders must understand their roles in the process. Nobody nor individual owns the process for democracy is the government of the people by the people and for the people. The civil society and media must be vigilant in exposing any darken corner on the path of democracy.

Democracy is an organic system with its vulnerabilities and it is not perfect; at times it can be messy, but it is the best system human beings have come up with. Nigeria can make it inspite of all the problems and abuses the politicians have fabricated. Looking back the past ten years it was bearish but the next ten years, twenty years Nigeria will surely arrive. I am optimistic on the prospect of a well and a thriving democracy in our great country Nigeria.

Environmental revolution awaits Kano State         12/20/08
Nigeria as a nation and sociological entity does not give any credence in the maintaining of her ecological and environmental integrity. Rubbish and debris are carelessly littered on the roadside and in the gutters. Some parts of Nigeria's landscape are being reclaimed by desert, erosion and gullies. No adequate attention has been given to these disasters and the disfiguration of the environmental integrity of our great country Nigeria.
                                                                                                                                                                         As a readjustment to reality of the situation, Kano State has embarked on this project of finding a permanent solution to the management of solid waste by setting up an integrated waste disposal facility. This is an impressive development and a gallant effort to have a healthier state. The government of Kano must be encouraged by the federal government in the effort to strategically collect, recycle and disposed her debris and waste materials in a safe and healthy procedural methodology. This paradigm initiated by Kano government is worth emulating.
                                                                                                                                                                          This integrate disposal of waste connotes a solid waste service and prudent management which will be instituted for the collection, disposal and recycling of discarded materials in a manner that will be safe, efficient, environmentally sound and cost-effective. Landfills which are the final destination for the housing of waste materials will also be the center for collection and separation of materials for recycling. Recycling is not only cost effective but necessary, to ensure a greener environment and non-hazardous ecosystem, while simultaneously making available of much needed raw materials for further production and creation of wealth.
                                                                                                                                                                      The next step for government of Kano State is to wage a mass education and public relationship campaign in order to inform her citizens of the importance of maintaining a clean ambiance in the state. The public must be given the informative tool to enable them comprehend the role they can play in the cost effective methodology of waste collection and disposal. When the public understands the importance of efficient waste disposal, they can be a committed partner in the reality of keeping the state clean.
                                                                                                                                                                       For the enhancement of the standard operation procedure, just like the advice and recommendations I gave to Anambra state: Trash containers are to be emptied at a minimum of once a week. All collected trash and debris will to be hauled to an approved landfill by licensed solid waste disposal vehicles. Vehicles used to haul the debris shall have a sealed bottom to prevent leaks or seepage, and the trash materials shall be covered while the load is in transit. All personnel will be instructed the correct procedure for trash disposal. External monitors and strategists in the form of experts, consultants and managers are needed to work with government.
                                                                                                                                                                     With this venture, Kano state will become an example to the rest of Nigerian states and National Environmental Standards and Regulations Enforcement Agency (NESREA). The advantages of a clean environment cannot be overemphasis including the drastic curtailed on misquotes and malaria, clean underground water, clean air and overall enhancement and enrichment of optimum health and well being for the citizens. One thing for sure: Sound health is great wealth.

THE FALL OF THABO MBEKI 10/19/08 Thabo Mbeki unceremoniously dismissed as South African President.

It is no more a news that Mr. Mbeki has been unceremoniously demoted from grace to grass. The intelligent and erudite president of South Africa has been dismissed by his party African National Congress (ANC). Many people see it coming except Mbeki who has been blinded by the power of the presidency. One can accuse Mbeki of many things but we can all come to an agreement that the man is exceptionally gifted. He is academically brilliant, a gentleman with a first rate mind and temperament needed to run such a complicated enterprise like South Africa. He understood the complexity of South African politics. The Black South Africans majority are poor, angry and hungry. While the minority white population is gripped with fear and uncertainty. Mbeki understood this complexity but uncertainty is the key to unknown, which became his vulnerability.

Foremost, Thabo Mbeki failed to recognize his first constituency which is the Black majority South Africans who have been abused and lived in penury poverty without adequate housing, food and water. Now the people are angry with the man because in the schemes of things he misplaced his priorities and direction. He down played the scourge of AIDS in his country and even went as far as intellectualizing such a real problem. People were dying and he is busy debating the cause of AIDS. There is a simpleton in making, people are angry and he has begun to lose their support and loyalty.

The Blacks expected a lot from President Mbeki, such a high expectation is a tall order to meet. While the white minority anticipated from him to continue in the steps of the Great Nelson Mandela, letting the dog to lie low and continue to march on without reminding them the price of injustice. Mbeki knew he needed everybody in South Africa and worked very hard not to alienate anybody. He catered to the elites and capitalists and reassured them with his fiscal conservative policy. He was ready to do business with the uppity and never desire to threaten the status quo. He balanced the state budget on the back of the poor. He doled out tax breaks and goodies for the investors. While he groomed the upcoming Black elites and rich, unintentionally he neglected the poor of his country. Mbeki was even criticized for addressing the overall Black empowerment with inadequate resources and attention. Simply put, Mbeki was accused of evading the poor of his country.

The endless problems of the continent: Civil wars and political disturbances in Congo, Zimbabwe, Burundi and many others beckon Mbeki’s presence and attention. The most pressing was that of Zimbabwe where Robert Mugabe refused to give up power, therefore creating a political instability that comes with hyperinflation never seen since Weiner Republic. Just like 1920 German inflation, Zimbabwe has no commodities to trade and Zimbabwe government printed money to deal with the crisis. The country has been destabilized by Robert Mugabe and his cohorts.

The West was breathing heavily on the back of Mbeki because they wanted him to be more decisive in the Mugabe’s Zimbabwe. President Mbeki came up with the African renaissance theory and see all these problems as an intellectual issue, with can be dissolved and resolved by the renewal of the African mind. It might sound good on the paper but how do you go about transforming a continent or even a country when the people lived in squalor and ignorance.

Now the third wave: Crossing path with Jacob Zuma, the ultimate load that breaks the camel’s back. The tussle and fight of power within the ANC family has just begun and Mbeki jumped in with his bare two feet in bowl of power contention with arrogance and pride. He rattles so many feathers and made so many enemies. The weight of the battle that Mbeki picked with charismatic and popular Zuma, whom he dismissed as his vice president broke his back. Subsequently, Zuma the consummate politician overwhelmed Mbeki and the rest, they said, is history.

President George Bush and the congress are putting heads together for a finishing touch to bail out Wall Street corporations that are mired in financial crisis with taxpayers’ money at the tune of about $700 billion to up to $1 trillion. What a number! And American taxpayers are footing the bill, when they have no hands in the making of such a mess. Welcome to the end of capitalism and the beginning of pseudo-capitalism clothed with socialism robe.

The bailout when finally administered will be a temporarily relieve to the financial crisis, but it is not the panacea to the fast coming economic depression we are about to experience. Thank God it will not be as bad as 1929 economic depression. Yes, we have the imperial and active reserve chairman who is willing to tinker with the interest rate and to fight inflation with anything within it means. Also our international partners including European Union, China and India will pump in money from their huge reserves into the global economy to stop the total melt down of the global economy. This will ensure that our consumers will continue to buy foreign products without personal savings which is the lowest compare to rest of the industrial nations.

This initial cost of bail out may not be the end; this might be the making of a black hole. The Wall Street chiefs may return and ask for more billions, if not trillions of dollars. The ramification will be a great disaster. We might experience a run away inflation that is more determined than the weak hands of the reserve bank. All the government can do is to print more money and to borrow more money. None of this is healthy for the economy.

The dollar that has already loss some of its muscle, might even become weaker and this will stimulate capital flight and give more credence and affinity to euro currency. Both inflation and weak dollar will discourage the attraction of capital and foreign investments. This will in turn cause a nosedive in productivity and increase in unemployment and low wages. The deficit and of course the national debt will skyrocket. The Chinese, Japanese and others might refuse to finance our deficits, while shunning our T- bills.

The Wall Street must go back to the school of capitalism and be educated on the fundamentals of capitalism. In capitalistic economy, government must try to stir clear from intervention in the market place, and when this principle is not adhere to there is a price to pay; which is the government eventual control of means of production. The Wall Street bigwigs can start their education with Adam Smith’s Wealth of Nations and finalize with the neo-classical Fredrick Von Hayek’s On the road to Serfdom. When the top business executives continue to mismanage their companies without adherence to transparency, accountability and probity, alas we will end up in serfdom.

Capitalism is about taking reasonable risk with capital, talent and liberty; reaping the benefit when successful but pay the price when failure occurs. It is not about mismanagement and failure, then turns around and asks the taxpayers and government for handouts and bailouts.

Cautious optimism: African Banks and the issue of bonds 05/06/08
These are great times for African banks especially in West Africa where Nigerian and Ghanaian banks are performing exceptionally well. All you hear about these banks are healthy news. Their profits are in black and quadrupling, investors are knocking at their doors from home and broad. The past banking reforms especially in Nigeria spearheaded by the able Governor of Central Bank of Nigeria, Professor Chuma Soludo was the anchor for these good things happening at the banking sector.
The next frontier as it appears is the issue of bonds for mostly overseas consumption. Nigerian banks are expected to issue over half a billion dollar ($500M) bonds before the end of third quarter and their Ghanaian counterparts are targeting almost $750 Millions. GT Bank in January 2007 became the first bank in Nigeria and West Africa to issue a US$350 million Regulation S Eurobond on the London Stock Exchange. The market fundamentals of banks in Nigeria and Ghana are strong and healthy. The respective home economies are rapidly growing even some banks in Nigeria were rated double minus (BB-) by London Stock Exchange.
Yes we will like to think that all is well and that all the dangers associated with issuing bonds especially in developing economy have been nipped in the bud. Let us be realistic, Nigerian and Ghanaian banks are residing in a fragile economic and political environments that can easily be destabilize by risky factors that may trigger market nosedive in the region. That can weaken their currencies and spur capital flights, ultimately driving away investors.
Peace is good for business. Nigeria has not yet secure a reasonable and sustainable peace for long time economic development. Niger delta and political disturbance in that region can impact unfavorably on banking outlook in the country. To continue to encourage foreign bondholders, a quantifiable peace is necessary to stabilize the economy.
Banks must be looking at long time investment strategy, not blinded by short time perspective. They must involve in the transformation of the mostly petty traders into serious business moguls that understand the dynamics and intricacy of globalization. Banks must be at the epicenter of financial enlightenment in the region.
African Banks must not abandon the serious job of tackling inflation and building a stronger currency to the central banks. They can be a partner to monetary and fiscal policies of the government by adhering to rules and regulations of banking sector and not trying to exploit the loopholes for short time gain and by so doing weaken the banking sector.

ROBERT MUGABE: THE RIGHT MOMENT TO EXIT THE STAGE 04/05/08
The opportunity has come for President Robert Mugabe of Zimbabwe to accept the verdict of the people and gracefully exit the political theater as a man of the people and as a democrat. This is the greatest chance he has to begin to salvage his battered image and destroyed personality. His argument to those that called him a brutal dictator is to use his exit from power to reassure the democratic world that his democratic credentials are not all gone with the wind.
Zimbabwe “once revered as the breadbasket of southern Africa with good education and healthcare, now has one of the lowest life expectancies in the world, schooling is a luxury and it is difficult to get even basic food supplies. Inflation has skyrocketed to more than 100,000 percent; food production and agricultural exports have dropped” but Zimbabwe can still come back only when Mugabe is replace with a thoughtful and a visionary leader.

But if President Mugabe refuse to release the result of the election but deploy and manipulate a runoff election to stay in power, then he is calling for one of the greatest disaster in history of Zimbabwe. He will go in shame and without dignity if he chose to dig in and deny the peoples’ verdict. Morgan Tsvangirai of the opposition party, the apparent winner of the unreleased election can allow Mugabe to retire in peace if Mugabe exit without rancor and latent disaster. But knowing the history of the great stubborn Mugabe, he will chose to stay put but the winds of change is insurmountable.

Nigerian Speaker stood up to IMF chief 03/09/08
Dominique Strauss-Kahn, Managing Director of the IMF was on one of his official trips to Africa. The IMF chief visited Nigeria and met with Nigerian leaders, most of them gave him free pass until he met the Honorable Speaker of the House, Mr. Bankole the Oxford educated leader who understands the ways - pros and cons of IMF. Speaker Bankole queried the visiting IMF chief and his delegation on the interest of IMF in Africa and Nigeria in particular. His words: "I am not quite sure what IMF (International Monetary Fund) intentions are in this part of the world, I think there has been a lot to know, about the politics played in the past, if we were to define it. I also know that your interest in Africa is declining, and I am not quite sure if that is a sign of the economic stability in Africa but, what I would speak to you about is: You don't need to go far, you don't have to be a rocket scientist to know that you mismanaged some of the values and some of the gains.”
For the first time Nigeria have a leader who is willing to question the intention of one of this international bureaucrats that always see Africa as a virgin land to try one of their monetary principles and economic theories. During the zenith days of structural adjustment programs that was prescribed by IMF to most of the cash- strapped African countries, our leaders implemented the destructive programs without questioning their intentions. African economies were in disarray, Africans were deeply impoverished while the governments were highly indebted. The IMF looked their other way and claimed that the programs will save Africa while Africans suffered untold hardship.
This time around the Speaker Bankole was right to ask the chief what his purpose of coming to Nigeria. Dominique Strauss-Kahn, the IMF chief replied: "The IMF is here to try to help you as per fiscal responsibility, policy advices, and obviously that is the reason why I am really interested in hearing from you the way you see it and understand it. But I understand that throughout the country, the problem is about fiscal responsibility." But IMF does not have a history of fiscal responsibility with regards to Africa. The IMF presided over the greatest destruction of African economies by subjecting them to structural adjustment programs and setting conditionalties before indebted country could have a dose of cash into its economy. This was nadir of IMF interference in Africa. Those conditions mandated countries to devalue their already weak currencies, open up their economies to foreign competitions at the expense of local industries and to radically cut their spending to the bone. While all these were going on, IMF was rightly accusing African leaders as corrupt and inefficient but the tainted money ended up mostly in the foreign capitals and Swiss banks. IMF that was heavy on fiscal responsibility could not use its international weight and connection to recover those siphoned money. Africa does not have a good history and favorable historical reference with this domineering institution.
IMF cannot be trusted in Nigeria and Africa, they must stay away!

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Bono and US Defense Secretary Gates meets to discuss Africa 02/02/08
Nobody can accuse Bono of being lazy. One minute he is at Davos with giants of industries and political juggernauts including former US Vice-President Al Gore and Billionaire Bill Gates discussing Africa. The next minute he is 'down' with US defense secretary Robert Gates and of course, discussing Africa.
Bono has taking up Africa’s cause as his hobby. Bono is sincere but fidelity is not what Africa is looking for, but results. With his campaign of going around asking for help for Africa, what has Africa gain from it?
Bono may be doing more harm than good to Africa. For him to gather help for Africa, he has to portray Africa as hopeless, corrupt and unproductive. By this he has totally annihilate the image of Africa and deter any serious investor from looking at Africa as place to invest.
Geoff Morrell, Pentagon Press Secretary confirmed the meeting of Bono and his boss. "They met about 20 minutes yesterday [Tuesday] afternoon in the secretary's office, discussed, as I shared with you, Africa, everything from AFRICOM to the president's AIDS initiative," he said. Bono has now metamorphosed from charity campaign lord to defense strategic coordinator for Africa. What a promotion!!
Bono is going around claiming that he had helped to bring about the so-called debt cancellation for Africa. But in the first place Africa has paid all her principal debt, except the overwhelming interest rate that really increase the debts. Take Nigeria for example, it was said that Paris Club granted $18Billion write off on Nigeria’s $36 billion debt. In 1985, Nigeria owned $8 billion to Paris club creditors, out of $19 billion of its foreign debt. By the end of 2004, Nigeria was owning Paris club $31 billion out of $36 billion of its foreign debt. Since 1992, Nigeria have not receive any loan from Paris club. So, where is the justification for the increase of the debt? Nigeria paid $12.5 billion in return of $18 billion debt relief from Paris Club. The billions of dollars that Nigeria paid was larger than the amount of money the rich nations will provide for Africa in a period of twenty years.
Bono was found nowhere protesting this type of treatment on Nigerians. Even when Archbishop Desmond Tutu asked Britain to return her $3 billion share of debt money received from Nigeria, Bono’s voice was not heard on the discussion. This self-appointed beggar for Africa might consider slowing down and let Africans do their own begging.

Bill Gates: Creative capitalism is the wave of the future ? 01/27/08
                    "I like to call this idea creative capitalism."
                                             -Bill Gates
                                                                                                                                                                When Bill Gates the founder of Microsoft and the world richest person speaks, everybody listen - presidents, bureaucrats, CEOs, and who is who. So when he calls for creative capitalism at Davos during the gathering of the world political and financial elites under auspice of the World Economic Forum, everybody was talking about this new concept he was propounding. All Bill Gates was saying is the application of free-enterprise and market forces to ease suffering among the poor and the economic outsiders. Gates is not abandoning capitalism, rather look for ways to use the tool of capitalism to ameliorate hardship to the billions of suffering masses across our globe. Creative capitalism can be precisely referred to as a positive social responsibility of businesses. When businesses especially those transnational corporations become good neighbors by partaking in solving the problems of their environments and giving back to the community, they can be become a greater good in establishing a mutual benefit relationship. When corporations are solely concerned about their bottom lines and are devoted on taking and taking, then this exploitative capitalism does bring antagonism and schism among the parties. Nothing is wrong nor prerogative about capitalism and profit-making, the idea of creative capitalism is to put a humane face on capitalism. This is good because the acceptance of capitalism will be guaranteed and its longevity will be boldly pronounced especially in the emerging markets.
The application of creative capitalism can be a force in tackling some instabilities in some restive regions of the world. Take for instance the case of Niger Delta, those big oil companies do not necessarily have to wait for the ineffective native government to act, they can aid in solving problems by acting responsible and provide technology, jobs, schools and amenities to the locals. "We have to find a way to make the aspects of capitalism that serve wealthier people serve poorer people as well," Gates told an auditorium packed with corporate leaders and politicians at the annual meeting of the World Economic Forum.
Gates enumerated how business worldwide can expand the reach of capitalism to offer the benefits of science and technology to the least of us. This is very noble of Bill Gates but he has to do more convincing to the capitalist and investor whose ultimate motivation seems to be the bottom line. My suggestion to Mr. Gates is to nurture a school of thought that will amplify and foster this new brand of capitalism. The school of thought will gather men and women of goodwill with capitalistic disposition and yet willing to look beyond humongous profit in order to better our collective humanity. This can be doable. With urgency in his voice, Gates said "If we're going to find a sustainable way to help those who can't pay, we have to use self-interest and caring - capitalism and philanthropy - to direct attention to people who have been left behind, such a system would have a twin mission: making profits and also improving lives for those who don't fully benefit from market forces." Bill & Melinda Gates Foundation, which supports health care in developing countries and provide research funds on effective measures to deal with the world health problems from grassroots and local community perspectives are the true examples of creative capitalism.

The exit of Nigeria ‘s corruption czar, Mallam Ribadu 01/11/08
Nuhu Ribadu, who has spearheaded Nigeria's effort to diminish financial crime was removed as the chairman of Nigeria’s anti corruption agency EFCC. He was compelled to attend a one year re-education, a reminiscent of Stalinist Soviet - to reassign and sideline any wayward apparatchik. Erstwhile President of Nigeria Olusegun Obasanjo created the Economic and Financial Crimes Commission (EFCC) in 2002 to fight and eliminate corruption in Nigeria. Mallam Nuhu Ribadu, was appointed the head of the anti-corruption agency, Economic and Financial Crimes Commission (EFCC).
Nigeria is quite complex and complicated to deconstruct. One day it is busy speaking and confronting corruption, the next day it will undermine its effort and time invested in the endeavor . However, to be fair to present administration, the constitution gives the president the prerogative to make such changes, including replacing officers of EFCC. People just have to trust the judgment of the president, give him the benefit of doubt and hope that he still believes in the fight to eliminate and tame corruption in Nigeria.
Many Nigerians including the media elites and social critic were concerned about Ribadu removal and they are insinuating that the president may have lost his vision of confronting corruption in Nigeria. The citizens of Nigeria are cynics and they are cynical because their leaders have disappointed them at numerous times. There is no Nigerian leader the people can trust and each leader has managed to allow corruption to flourish. However, it is prudent that they give the present administration a chance to find their footings before judging them.
Corruption is the bane of development in Nigeria. With all the resources in Nigeria including the huge revenue generated from oil, there is no durable amenities and infrastructures. It was estimated that Nigeria lost over $400 Billion to corruption. These funds were siphoned abroad, while the country wallow in penury poverty and diseases. The weak civic institutions in Nigeria further complicate issue, thus making personality more important than institution. The weakness of institutions like EFFC, Police institute, Customs and others make the problem of accountability and transparency difficult. Therefore Nigerians look up to personality, thereby forsaking the deliberate and tedious job of building institutions.
Since the establishment of the Economic and Financial Crimes Commission (EFCC) with Ribadu as the head, EFCC has convicted over 500 individuals and has lately embarked in the prosecution of seven former state governors. A reasonable achievement that must be encouraged and Ribadu deserves a pat on the shoulder in spite of his vulnerabilities.

KENYAN PRESIDENTIAL ELECTION:BAD NEWS FOR DEMOCRACY IN AFRICA 12/31/07
Many African countries are joining the bandwagon of democracy, accepting democracy on the face value but rejecting the tenants of democracy. African leaders are quick to proclaim themselves democrats but in practice they are far from their proclamation. The organizing of a fair and transparent election, an important threshold in democracy is an illusion. A fair election is relegated to the background and rigging has been made vogue in Africa. The other condiments of democracy: freedom of speech, free assemble, protection of minority rights and others have become a mirage in Africa’s democracy. Take Kenyan election for example, the 76-year-old incumbent President Mwai Kibaki was declared the winner of badly organized election devoid of transparency, thus defeating the flamboyant Raila Odinga. Turmoil have erupted and many innocent people were killed, immediately the incumbent president rushed and sworn-in himself for the second term. In the hands of the power thirst African leaders, democracy has received a black eye. These leaders have become experts in the manipulation of elections and continue with their life time presidency. Some of these elections mischief in Africa call themselves fathers of democracy, thereby making mockery of democracy. A democratic system of governance, a sustaining institution that have worked for many nations have been disfigured by the African leaders for their personal aggrandizements at the expense of their people and development.

PRESIDENT ZUMA? HOW DOES IT SOUND? 12/19/07
President Mbeki of South Africa may not think it sounds good to his ears. But its no more a news that Mbeki was upset by Jacob Zuma, his long time rival to become the leader of their party - African national Congress (ANC). This victory puts Mr. Jacob Zuma on the path to become the president of South Africa, when Mbeki‘s tenure elapses in 2009, or even earlier if Mbeki calls for early election.
President Mbeki and his henchmen were rejected by overwhelmingly members of ANC in favor of Zuma and his comrades, even Winnie Mandela the estranged wife of great Nelson Mandela, won a leadership position in the ANC executive election. In the good old days, Zuma was the deputy president of South Africa, serving with President Mbeki until he was dismissed from his job for the accusation of bribery from a business deal that sent his business partner to 15 years imprisonment. Zuma was further charged of rape and he was later exonerated by the court. They never have enough evidence to prosecute him for bribery, but with his emergence on the stage as the new president of ANC, the prosecutor promised that he has not finish with him and insisted that he is still collecting evidence for a possible trial. The supporters of Zuma are calling it a political witch-hunt and a manipulation by the powerful dons in the party. Although, Zuma does not have formal and conventional education, but nobody can deny that this Zulu erudite is a consummate politician. He did not attend a conventional school, but he is worldly educated and understands the act of timing coupled with patience. With all the negative publicity heaped on him, he continued to press on and surmount all the daunting hurdles. President Mbeki and rest of other restive Southern Africans might as well accept Zuma. All things being equal, President Zuma is possible, but he must remember that he is not above the law and must adhere to the matters of people and the law accordingly.

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Andrew Young and his utterances on Senator Obama 12/05/07
“I want Barack Obama to be president, in 2016. It’s not a matter of being inexperienced. It’s a matter of being young, there’s a certain level of maturity ... you’ve got to learn to take a certain amount of (expletive). There are more black people that Bill and Hillary lean on. You cannot be president alone. .To put a brother in there by himself is to set him up for crucifixion. His time will come and the world will be ready for a visionary leadership."                         - Amb. Andrew Young

The civil right icon and former US Ambassador Andrew Young have joined ranks and files of civil right activists who are not supporting Senator Barack Obama, an African American to become president of United States. He attacked Senator Barrack Obama: “It’s not a matter of being inexperienced,” he said. “It’s a matter of being young.”
But Mr. Young is not accurate when viewed from the prism of historical records: “At 46, Sen. Obama is three years older than the venerable John F. Kennedy was when he ascended the presidency and is exactly the same age that Clinton was when he won the White House in 1992.” Young was also reported of making a disparaging remark about Obama being a visionary leader. It might be inconceivable for many to understand Young stands against being visionary. The protégée of Andrew Young, the great Martin Luther King was known for his vision and he proclaimed the “I have a dream” speech. Who can be more visionary than Martin Luther King and what is wrong about being visionary? Andrew Young is supposedly a friend to Africa, with all the wealth and goodwill he generated from Africa, yet he opposed Obama, the son of Kenyan from being a president of America. Frankly, Mr. Young can support any candidate for presidency but to put down his fellow Black American buttressed a lack of judgment and un-sportsmanship.
                                                                                                                         IMPROVING POLICING IN NIGERIA
Nigeria needs to completely overhaul its police institute with a comprehensive reform that will usher in a seasoned and improved trained police men and women. Nigeria‘s reform of the police will not be a piecemeal, where many issues affecting the force will be relegated to the background for a quick fix. A comprehensive solution will be a panacea to the end of the deficiency associated with policing in Nigeria . The invitation of British Police/Scotland yard might be a piecemeal to the endemic problems confronting Nigerian Police force. Economically and sociologically, Nigeria and Britain are too separate nations, while Britain is low tempo nation committing crimes of passion, it's opposite with Nigerian crimes mostly triggered due to poverty and paucity of opportunity. Nigeria cannot be a nation with a progressive economy without astute security apparatus. Capitalists and investors must perceive a sense of security in Nigeria . Security and peace will make investments attractive to Nigeria. There must be a strong law enforcement apparatus if Nigeria will make a head way in becoming one of the twenty largest economy by the year 2020.
Salaries and Wages
All things being equal, the police force can not rise to the occasion of protecting lives and properties on empty stomach. Both literally and figuratively the core men and women of the force are starving. Their penury situations cannot allow them to be all they can be. They are victims to corruption thereby debasing their profession of upholding law and order. When reasonable and livable salaries are paid, they become true professionals and the bad fruits in their midst can be detached and rid-off from the force. To enhance and dignify the police force, who are assigned the awesome job of fighting crimes in Nigeria they must be richly compensated and the perks must be made appealing.
Equipped police force
For Nigerian police force to become equal to the assigned responsibilities of fighting crimes and upholding justice, it must be equipped with the necessary materials including functioning communication system, efficient vehicles and reliable armaments to deter and destroy targets.                                                                                        Educated police force
An enlightened police force must be realized by setting up institutions of higher learning dedicated to educating the police. The curriculum must be geared toward making a dedicated citizen whose civic duties comes first. They must be exposed to the history and politics of the country and must be educated on the inner workings of the governments. They must realized that the protection of lives and properties are supreme to a well manage and progressive state.

EU-AU SUMMIT: WHAT DOES IT MEAN TO AN AVERAGE AFRICAN? 12/05/07 African Union leaders are gearing up for the forth coming summit with their European counterparts (European Union) in Lisbon Portugal on 8-9 Dec.2007. This is not the first time summit has been held between Europeans and Africans. Now and then summits were held for Africa even in their absence. Berlin conference of 1884 was a prime example of a summit on Africa in which Africans were not invited, its ramification has not been totally addressed. This December summit is billed as a mutual advantage conference, where leaders with mutual interests will sit down and exchange ideas and views on advancing the interests of both parties. Well, this is good thing for all the parties involved...(click)

BRITAIN CRITICIZED AND ASKED TO REFUND $3 BILLION TO NIGERIA BY BISHOP TUTU AND OTHERS ... BRITAIN REFUSED
United Kingdom has declined the request of Archbishop Desmond Tutu and and development charities including The Jubilee Debt Campaign to return the share of her debt payment to Nigeria. Britain was criticized for accepting the payment from developing country Nigeria.
To finalize the debt payment deal, Nigeria made the total payment of $12.4 Billions to Paris Club and Britain the largest creditor received $3Billion.
“The British government has drawn sharp criticism from development charities for taking a debt repayment from Nigeria which dwarfs the UK's entire annual aid budget for the African continent.”
“Charity Jubilee Debt Campaign says the payments mean the G7 will receive more in six months from Nigeria than the 2005 Gleneagles G8 deal will provide to poor countries in a decade. The G8 is the G7 plus Russia. Trisha Rogers, Jubilee's director, said: "It is obscene for G7 countries to take billions of dollars from one of the poorest countries on earth. In particular this means the UK will take from Nigeria almost exactly twice as much as it is giving in aid to the whole of Africa in 2005."
In his letter dated 27 January, Tutu said: "While it is to be welcomed that much of the debt has been wiped off the books, it is unacceptable that 40 per cent ($12.4 billion) must be paid in a one-off payment.
"For rich creditors to be claiming such a vast amount of Nigeria's savings at this time smacks of a meanness of spirit which stands in stark contrast with so many of the sentiments expressed in 2005.”
Prime Minister Tony Blair replied that Britain will keep the debt payment and will not refund any money to Nigeria.
ANALYSIS: It's perplexing to comprehend, on why Britain and Prime Minister Tony Blair refused to adhere to the appeal from eminent personalities of Desmond Tutu and Trisha Rogers caliber.
Prime Minister Tony Blair has good credentials on Africa. He highlighted Africa in his leadership of G8 in 2005 and said that Africa's plight was "a scar on the conscience of the world."
He also championed the cause of Africa with the formation of the Commission for Africa. During his leadership of G8 he recommended massive aid and debt remission for Africa.
Africa is a continent beset with dire problems - Diseases, wars and instability are ravaging the continent. The least thing Africa needed is enormous capital flight. Every penny is needed to curb the problems and alleviate quality of life in the most populous nation in Africa.
Britain and Blair understood Africa's political landscape and in deed Nigeria, particularly its sociological-economic needs more than the rest of the G8 and Paris Club members.
Leadership requires setting the pace and Britain must lead by example.

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PETER OBI DECLARED THE WINNER OF ANAMBRA STATE GOVERNORSHIP ELECTION IN NIGERIA.

Peter Obi of APGA was declared the winner of April 19, 2003 governorship election in Anambra state by the court of Appeal.
This therefore nullified the election of the incumbent governor Dr. Ngige.
For Peter Obi, who has waited this patiently for the slow wheel of justice to run its full course, nothing can be more rewarding than to become governor at the end of the struggle.

ANALYSIS: Leaders must respect the wishes of the people, “Vox populi, vox dei.” Elections are the barometer for evaluation and affirmation of the leadership by the populace. To rig and manipulate election result is fundamentally wrong which is the distortion and violation of the basic ideal of democracy. Power belongs to the people and the people must elect their leaders.
Election must be free and fair. The first step of the having a sustainable democracy in Nigeria is the ability to conduct a free and fair election. Democracy can only survive in Africa, when the voice of the people is respected. This ruling by the Appeal court is a great development for course of democracy in Nigeria.

Before the government of President Obasanjo secured the $18billion debt relief for Nigeria from the Paris Club of creditors, Nigeria's total foreign debt stood at $35.916billion as of June 2005. The largest chunk of the debt $31billion was owed to 15 of the 19 creditor-countries of the Paris Club.

On Friday, April 21, 2006 Nigeria paid the final installment of $4.518billion to exit the Club. The earlier arrangement and concord reached with the Paris club in June last year, which Nigeria has fulfilled by the paid off $12.4 billion in arrears and debts as was stipulated.

The 15 creditors include: Austria, Belgium, Brazil, Denmark, Finland, France, Germany, Italy, Japan, Netherlands, Russia, Spain, Switzerland, the United Kingdom and United States.
The Jubilee Debt Campaign said that Nigeria is paying rich nations an amount larger than the G8 nations will be giving to poor countries in next ten years.
Trisha Rogers, the director of Jubilee said, "It is obscene for Paris Club, the rich countries to take billions of dollars from one of the poorest countries on earth."

ANALYSIS: This development will enable Nigeria to secure a favorable financial rating and reputation among global financial institutions. The greatest effect will be felt on the attraction of foreign capital and investor, propelled by comprehensive economic reform called Policy Support Instrument endorsed by IMF. All these with the latest “BB” rating from two major international credit rating agencies will embolden investors. If Nigeria can embark on refurbishing her physical infrastructures investor confidence can soar high.
The poor health care facilities can be upgraded because funds which, would have gone for debt servicing, can be utilized. This is also applicable to Education improvement especially in the primary and secondary levels.
Credit must be given to the Obasanjo’s administration that diligently pursues this debt –payment deal. This has become the hallmark of this administration, although when the detail of the Paris club deal was revealed, critics were questioning whether Nigeria
has the fund to go through with the deal and still has fund left to run peoples business of governance. But thanks to the windfall from high oil price, the deal was successfully completed without much ado.

GATES FOUNDATION GIVES $600M FOR TB ERADICATION
At the World Economic Forum at Davos, Switerland, the Microsoft founder and the modern day Good Samaritan Bill Gates announced that his charitable foundation would increase the funding for tuberculosis research and eradication from the present level of $300 million to $900 million in the next ten years.

Nigerian President Obasanjo who was present, promised that fight against this disease that has killed 1.6 million people annually should be his highest priority in the forthcoming African Union meeting in Abuja Nigeria.

"The Global Plan is fundamental for Africa, where tuberculosis was declared an emergency by 46 countries in 2005," Obasanjo said. "We hope the African Union will endorse this plan and call upon African governments to commit their share of the resources needed to implement it."

Bill Gates reiterated, "This is a very tough disease, It is going to take all of us -- private sector, the pharmaceutical companies, philanthropy and governments in countries that have the disease -- to participate as well."

The World Health Organization assented that the increased funding will play a critical role in the eradication of tuberculosis
ANALYSIS: Reflecting on the words of the renowned Frantz Fannon, “Each generation must, out of relative obscurity, discover its mission, fulfill it or betray it.”
Definitely Bill Gates of Microsoft and the world richest man has discover in this our generation that giving back is just as significant as accumulating wealth.
Bill Gates has donated over $1 Billion dollars on the fight against tuberculosis and malaria. This is not the first time his Gates foundation has given millions of dollars to various charities including AIDS research and causes around the globe especially in developing countries. Malaria which is rightly called an epidemic is the second biggest killer after HIV/AIDS and it is estimated to kill millions of Africans especially children.
The economic impact of diseases in the continent is strikingly devastating, with more than $12 billion productivity and income lost saddle on Africa back annually on just malaria alone. Children in schooling age who are suffering from malaria missed out in their school works and when breadwinner of a family is infected the family sometimes goes hungry temporal. The ramification of malaria in the continent cannot be overemphasis.
So, when Bill Gated took this action and a step in tackling these controllable diseases by these enormous donations, he has opened a door of brightness to a hope. Eventually we can make malaria and TB things of the past.
But the question that really begs for an answer : Where is the rest of mankind especially Africans? The greatest challenge must be laid on the doorstep of Africans. Where is the government policy and programs on the treatment and control of malaria? Where are the African millionaires and rich people? It is no more a surprise nor a news anymore about the stolen wealth that ended up in off shore and foreign bank accounts while the average African cannot afford to buy medication to his malaria infected children. Before African governments will rush to western donors and philanthropist to help them to combat malaria, they must foremost put their house in order by showing their commitments.
Africa must do better and will do better, if this struggle against malaria, TB and AIDS will have a chance to see the light of the day.
In South Africa, Nelson Mandela called for a social revolution akin to the one against apartheid on disease. But the real revolution must start in the minds and conscience of African elites and ruling class. Simultaneously in Nigeria, the government was saying that the country has nothing to show for than $300 billions made from crude oil export and transaction since 1970s. Such a wealth if properly utilized would have made a great impact on disease eradication especially malaria. Another African country Angola, the second largest crude oil exporter cannot account for $1 billion dollars from oil revenue. When such funds are invested on education and disease prevention, then they can ask the rest of the world to partake in the endeavor.
Inasmuch as Bill Gates a man with big heart and a symbol of America hospitality is doing his best possible, Africa must be accountable and responsible to herself and posterity.
© 2006 AFRIPOL.org

Bono the charismatic front man of the musical group U2 asked America to increase her funding for the poor of the world. He made the pledge at the Thursday during the National Prayer Breakfast in Washington D. C.
Bono said the United States spends less than 1 percent of its budget on the world's poor and asked America to spend 1% of its GDP on the poor.
Bono thanked the American President George Bush for his commitment in the fight against malaria and Aids.

Addressing President Bush and members of Congress at the National Prayer Breakfast, Bono asked them to adhere to the principle of free trade that is more inclusive of the poor, so that the poor people can sell their goods internationally.
In addition, he told them not to hold children to ransom for the debts of their grandparents and to withhold medicines that would save lives.
"God will not accept that," Bono said. "Mine won't. Will yours?"
President Bush praised Bono for his effort, "The thing about this good citizen of the world is he's used his position to get things done, You're an amazing guy, Bono. God bless you."
Bono had distributed white plastic bracelets from The ONE Campaign to fight AIDS and poverty at every table at the National Prayer Breakfast.
ANALYSIS: The greatest spokesperson for the needy and poor of this world is without doubt is Mr. Bono. He has done more for the less privilege of our globe more than their native leaders. He has given voice to the voiceless and spoken truth to power without any hinge. He is an agent of compassion and a Good Samaritan.
Bono must be next Nobel Peace Prize winner, if not the relevance of the award will be questionable. History will never deny Bono his place, when it chronicle the battle against poverty and AIDS in his generation and in the contemporary twenty first century .
There is on going debate among experts in the intellectual community on whether Trade or Aid is best for Africa and rest of developing countries in alleviating poverty and raising the quality of life. The analysis of the chequered history of aid is not encouraging, for aid cannot replace trade and industrialization as engine of development and progress.
There is no conundrum to this, Africa must trade with the rest of the world to raise its standard of living and GDP. Handout as in foreign aid cannot be the panacea to penury poverty eradication. But there must be an initial concession by the industrialized nations to paradigm of free trade that guarantees plain field for Africa to compete. Africa must not continue to implore for financial aid that can be easily be mismanaged by some of their leaders. Africa must be given the chance to trade with rest of the world through trade liberalization and removal of impediments that discourage trade.
How can this be possible? Africa must embark on the area of trade specialization where she has the greatest comparative advantage. It seems that agriculture is the best possible for Africa. The Western World must take the initiate of lowering trade tariffs and removal of agricultural subsidies. This is only way developing nations and poor countries especially in Africa can participate and compete.
Free trade must work for every nation and Word trade Organization must implement trade policy that is doable, workable and inclusive . Foreign aid is all good and dandy but history has shown us that aid has not improved nations nor ameliorated the well beings of the fabric of the needy class at the long run.
Foreign aid can be given via reduction of medicine price, pharmaceutical equipments and reduction of essential commodities needed for survival in the less technological nations. We cannot downplay the role of foreign aid when fully utilized and when it goes to the required projects and the needy. But it cannot be the cornerstone of poverty reduction.
A comprehensive battle against poverty and disease, must include Trade and targeted foreign aid which are intrinsic if not inevitable for victory.
© 2006 AFRIPOL.org