Opinion
On Home-Banking System
A security consultant made a joke during a private conversation that: ‘The fear of EFCC is the beginning of wisdom’. Obviously, politicians and moneybags are people of great wisdom, otherwise they would hardly be in the positions they are, or have the possessions they have. With the introduction of a Treasury Single Account (TSA) policy and Bank Verification Number (BVN), a new home-banking system came into practice. Operatives of the Economic and Financial Crimes Commission (EFCC) can easily trace bank lodgements as well as projects financed therefrom, but even with smart sniffer dogs, it would be difficult to trace secret holes in the home-banking system.
From impregnable underground bunkers in private homes, to overhead water tanks, politicians, business tycoons and sponsors of political aspirants, adopt many clever ways and means of operating home-grown banking system. The role of king-size dogs in the security of private homes can easily be noticed both in urban cities and rural communities in Nigeria now. The dog-culture has become so trendy that the breeding of killer-dogs has become a lucrative business. One such dog can cost as much as N300,000 to buy and N30,000 to feed in one month. They cannot eat the rubbish that many of us consume daily as food.
So, the home-banking system is not a business engaged in by the hungry or ‘agbero’ class of citizens, neither is it adopted to spite conventional banks. In reality the game of bamboozlement, deceit and mendacity can hardly be successful if money does not pave and smoothen the way. With money and the cooperation of security agencies, including giant dogs, secrets can be kept secret and fingers pointed in the wrong direction in real politics.
The game of corruption is a game of the ruling class and it has to do with the mechanism of capitalist economy. Similarly, the game of money laundering is a global network, of which developing countries and their institutions are the preying grounds. The mind-set of the leadership of developing nations can be programmed to talk glibly about corruption as being the greatest plague of their nations, while the real problem lies elsewhere. While state institutions are deliberately weakened, a few individuals are often glamorised and strengthened, and some demonized.
Especially for an oil-producing nation, the political game employs the antics of name-calling, recrimination and creation of division among the political class, to divert attention away from the game of looting. Truly, the smartest beneficiaries of the looting game in oil-producing countries are the Western nations. Not only do financial institutions in developed nations receive, protect and trade with looted money from developing countries, they also provide consultancy services for top officials on how to launder money.
State institutions are deliberately made weak and unreliable through corrupt patronage and sinecure such that they are ineffective and corruption-ridden. The lop-sidedness in staff postings and deployment in public institutions can be so politicized that it can become dangerous for any patriotic official to raise alarm over obvious malpractices going on. Therefore, the mechanism of global capitalist economy goes by weakening of state institutions through political interferences in the bureaucracy of developing nations. The next strategy is interference in the electoral process to ensure that malleable leaders emerge whose mindset would be supportive to Western capitalist economy.
While calling the people of developing nations ‘fantastically corrupt’, Western nations, through their financial institutions, still encourage money laundering. Thus the global network of financial malpractices fuel corruption in developing nations, whereby the gap between the rich and the poor grows wider and wider. At the same time, the gap between the developed and developing nations also gets wider through abuses and ineffective management of the commonwealth.
With increasing exposure of the hypocrisy of Western banks and their financial institutions, foreign and local banks no longer provide safe havens for looted money by politicians and moneybags. The alternative is the resort to home-banking system, thanks to the activities of EFCC. Despite zero-cash policy and the services of Automatic Teller Machine (ATM), some Nigerians store huge sums of local and foreign currencies in personal vaults in their homes. Perhaps whistle-blowers can do some business, but they may also be risking their lives. Money has power!
Dr. Amirize is a retired lecturer at the Rivers State University, Port Harcourt.
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Restoring Order, Delivering Good Governance
The political atmosphere in Rivers State has been anything but calm in 2025. Yet, a rare moment of unity was witnessed on Saturday, June 28, when Governor Siminalayi Fubara and Minister of the Federal Capital Territory, Chief Nyesom Wike, appeared side by side at the funeral of Elder Temple Omezurike Onuoha, Wike’s late uncle. What could have passed for a routine condolence visit evolved into a significant political statement—a symbolic show of reconciliation in a state bruised by deep political strife.
The funeral, attended by dignitaries from across the nation, was more than a moment of shared grief. It became the public reflection of a private peace accord reached earlier at the Presidential Villa in Abuja. There, President Bola Ahmed Tinubu brought together Governor Fubara, Minister Wike, the suspended Speaker of the Rivers State House of Assembly, Martin Amaewhule, and other lawmakers to chart a new path forward.
For Rivers people, that truce is a beacon of hope. But they are not content with photo opportunities and promises. What they demand now is the immediate lifting of the state of emergency declared in March 2025, and the unconditional reinstatement of Governor Fubara, Deputy Governor Dr. Ngozi Odu, and all suspended lawmakers. They insist on the restoration of their democratic mandate.
President Tinubu’s decision to suspend the entire structure of Rivers State’s elected leadership and appoint a sole administrator was a drastic response to a deepening political crisis. While it may have prevented a complete breakdown in governance, it also robbed the people of their voice. That silence must now end.
The administrator, retired naval chief Ibok-Ette Ibas, has managed a caretaker role. But Rivers State cannot thrive under unelected stewardship. Democracy must return—not partially, not symbolically, but fully. President Tinubu has to ensure that the people’s will, expressed through the ballot, is restored in word and deed.
Governor Fubara, who will complete his six-month suspension by September, was elected to serve the people of Rivers, not to be sidelined by political intrigues. His return should not be ceremonial. It should come with the full powers and authority vested in him by the constitution and the mandate of Rivers citizens.
The people’s frustration is understandable. At the heart of the political crisis was a power tussle between loyalists of Fubara and those of Wike. Institutions, particularly the State House of Assembly, became battlegrounds. Attempts were made to impeach Fubara. The situation deteriorated into a full-blown crisis, and governance was nearly brought to its knees.
But the tide must now turn. With the Senate’s approval of a record ?1.485 trillion budget for Rivers State for 2025, a new opportunity has emerged. This budget is not just a fiscal document—it is a blueprint for transformation, allocating ?1.077 trillion for capital projects alone. Yet, without the governor’s reinstatement, its execution remains in doubt.
It is Governor Fubara, and only him, who possesses the people’s mandate to execute this ambitious budget. It is time for him to return to duty with vigor, responsibility, and a renewed sense of urgency. The people expect delivery—on roads, hospitals, schools, and job creation.
Rivers civil servants, recovering from neglect and under appreciation, should also continue to be a top priority. Fubara should continue to ensure timely payment of salaries, address pension issues, and create a more effective, motivated public workforce. This is how governance becomes real in people’s lives.
The “Rivers First” mantra with which Fubara campaigned is now being tested. That slogan should become policy. It must inform every appointment, every contract, every budget decision, and every reform. It must reflect the needs and aspirations of the ordinary Rivers person—not political patrons or vested interests.
Beyond infrastructure and administration, political healing is essential. Governor Fubara and Minister Wike must go beyond temporary peace. They should actively unite their camps and followers to form one strong political family. The future of Rivers cannot be built on division.
Political appointments, both at the Federal and State levels, must reflect a spirit of fairness, tolerance, and inclusivity. The days of political vendettas and exclusive lists must end. Every ethnic group, every gender, and every generation must feel included in the new Rivers project.
Rivers is too diverse to be governed by one faction. Lasting peace can only be built on concessions, maturity, and equity. The people are watching to see if the peace deal will lead to deeper understanding or simply paper over cracks in an already fragile political arrangement.
Wike, now a national figure as Minister of the FCT, has a responsibility to rise above the local fray and support the development of Rivers State. His influence should bring federal attention and investment to the state, not political interference or division.
Likewise, Fubara should lead with restraint, humility, and a focus on service delivery. His return should not be marked by revenge or political purges but by inclusive leadership that welcomes even former adversaries into the process of rebuilding the state.
“The people are no longer interested in power struggles. They want light in their streets, drugs in their hospitals, teachers in their classrooms, and jobs for their children. The politics of ego and entitlement have to give way to governance with purpose.
The appearance of both leaders at the funeral was a glimpse of what unity could look like. That moment should now evolve into a movement-one that prioritizes Rivers State over every personal ambition. Let it be the beginning of true reconciliation and progress.
As September draws near, the Federal government should act decisively to end the state of emergency and reinstate all suspended officials. Rivers State must return to constitutional order and normal democratic processes. This is the minimum requirement of good governance.
The crisis in Rivers has dragged on for too long. The truce is a step forward, but much more is needed. Reinstating Governor Fubara, implementing the ?1.485 trillion budget, and uniting political factions are now the urgent tasks ahead. Rivers people have suffered enough. It is time to restore leadership, rebuild trust, and finally put Rivers first.
By: Amieyeofori Ibim
Amieyeofori Ibim is former Editor of The Tide Newspapers, political analyst and public affairs commentator
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