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Editorial

As Nigerians Vote Again, ’Morrow…

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Tomorrow, March 18, Nigerians of voting age would again file out to cast their votes for governors and
House of Assembly members of the various states in the country. Those who deeply understand the dynamics of political power have since projected that the gubernatorial election may be much more tougher than the presidential poll of February 25 because, as they say, every politics is local.
Expectedly, new governors will be elected for 28 of Nigeria’s 36 states and lawmakers will also be elected for 993 Houses of Assembly seats in the 36 states of the federation. Governorship elections will not hold this time in Anambra, Bayelsa, Edo, Ekiti, Imo, Kogi, Osun, and Ondo, as polls to the offices of governors of the states are held off-cycle and not part of the general election.
Since the February 25 election was conducted, the Independent National Electoral Commission (INEC) has come under fire from election observers – both national and international, Chatham House, the United States, political parties, as well as political commentators who observed that the conduct of the ballot fell short, especially with the inability of INEC to transmit results from polling units to the results viewing (IReV) portal.
It is alleged that there was a deliberate attempt or outright refusal to upload and transmit the election results to the INEC server after declarations at the polling units as stipulated by the 2022 Electoral Act, among numerous other electoral malfeasances. But this is even as some people, particularly those whose candidates won, believe the results were a true reflection of the people’s wish, considering the victory of some new political parties in the strongholds of the ruling party across the country.
Customarily, the country will be shut down tomorrow as politicians of various parties take on one another in what promises to be “tough battles” in the respective states. Many believe that Saturday’s poll would be different because unlike in the past when the contest was usually a two-horse race, the battle would be among three or more dominant parties depending on the state.
While the stakes are high, we urge INEC to use the opportunity of the March 18 governorship elections to redeem its image, by correcting all observed loopholes in the February 25 election. This time around, we call for the sustenance and advancement of the Bimodal Voter Accreditation System (BVAS) because its use has been seen to reduce the level of rigging by curtailing overvoting. Results should be uploaded directly from the polling units to the IRev portal for real time viewing.
Besides the glitches in the BVAS, the late arrival of voting materials to polling units was a major hiccup that characterised the last presidential election. Hence, INEC must ensure that voting materials arrive at the polling units on time and clear “all obstacles” that might hinder the free and fair conduct of the governorship election. This is one of the ways the electoral umpire can prove to the world that it has learned from its mistakes.
Of immediate concern to the commission should be how the identified challenges could be addressed ahead of the concluding phase of the general election involving the largest number of constituencies. Issues of logistics, election technology, the behaviour of some election personnel at different levels, and the attitude of some party agents and supporters must not be ignored.
Some Resident Electoral Commissioners (RECs) in the last presidential poll should be investigated for their alleged partisanship and connivance with politicians to sabotage and derail the due process. Similarly, INEC should investigate its staff accused of involvement in election fraud, especially electoral officers at the councils, supervisory presiding officers, and dubious ad-hoc staff, while all those involved in malpractice should be arrested, prosecuted, and punished adequately, to serve as a deterrent to others.
One of the issues that give most Nigerians real cause for concern as the nation picks its way through the delicate democratic pathway is the perceived complicity of security operatives in allegations of manipulating the elections to achieve pre-conceived results. It is a fact that the integrity of any election can be determined by the security situation at any given time as the electorate goes about choosing their leaders freely without let or hindrance.
We demand improved performances from the various security operatives participating in tomorrow’s governorship and State Assembly election. Many of them had put up shabby performances during the February 25 presidential poll. They aided and abetted some thugs to snatch ballot boxes. Though we commend some for showing professionalism, Nigerians request remarkable improvement.
Security agents who should participate in the conduct of elections must be professionals who are willing to discharge their duties without minding whose ox is gored. If Nigeria has to grow and this democracy has to survive, we must, as a nation, take a stand on what to do about the involvement of security agencies in elections. This is pertinent because their role, positive or negative, can make all the difference.
Political parties and their candidates should speak to their agents and supporters to see the elections as a contest and not war. They should refrain from acts of violence that may mar the exercise or compromise the security of our personnel, observers, the media, and service providers. The directive to State Commands by the Inspector-General of Police to handle all cases of electoral offences expeditiously is indeed heart-warming.
In Rivers State, the journey has been good so far. No one envisages any terrible or apocalyptic situation in terms of the election. However, we must all be vigilant. Every eligible person should vote. We must comply with the rules and let each one exercise their franchise. No one should exhibit lawlessness. Political bigwigs and their gladiators must call their lieutenants to order. Anyone itching to undermine the process in the state should please think again.

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Editorial

CBN And Nigeria’s Cash Crunch

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Nigerians have, again, been thrust into desperation as they grapple with cash shortage that has cast a dark shadow over their daily lives. Months after the Supreme Court’s ruling permitting the coexistence of the old and new naira notes, the crisis persists, leaving countless individuals struggling to secure basic necessities.
The scarcity of naira notes has partially crippled commerce throughout the country, especially in the informal sector. Businesses are incapacitated, unable to complete transactions efficiently, resulting in a slowdown of economic activities. Some people are left in dire straits, desperate for cash to meet essential expenses such as food, transportation, and healthcare, among others.
The cash crisis has created a fertile ground for unscrupulous elements and businesses to engage in predatory tactics. Retailers are exploiting the despair of consumers by overcharging for goods, while others hoard cash to sell at inflated prices. This rampant profiteering has further burdened the already strained financial resources of many Nigerians.
It is deeply concerning that while the citizens are still contending with the fallout of a failed disastrous currency redesign policy last year, the Central Bank of Nigeria (CBN) has initiated another misguided scheme that has exacerbated the scarcity of the legal tender. This ill-conceived move is implemented at a time when Nigerians are already struggling with inflation, rising unemployment, and declining living standards. The CBN’s actions have only served to compound their plight.
The timing of the plan is particularly cruel and demonstrates a fundamental lack of consideration for the well-being of ordinary Nigerians. The Central Bank has failed to adequately assess the severe consequences of its policies on the lives of citizens, who are now compelled to endure an atmosphere of uncertainty and hardship.
Despite the apex bank’s assurances of sufficient naira notes in circulation, the cash dilemma continues to torment Nigerians. The situation has worsened following introduction of withdrawal limits by the nation’s financial authorities, leading to an increased reliance on Point-of-Sale (POS) terminals. However, this dependence has come at a steep cost.
POS service providers have taken undue advantage of the shortage by imposing exorbitant charges, further burdening consumers. The surge in charges has negated the convenience of POS transactions, driving up the overall cost of obtaining cash. The CBN’s claims of adequate cash supply ring hollow in light of the predatory practices of POS operators.
Currently, naira scarcity has gripped major cities across the country, with Automated Teller Machines (ATMs) running dry and commercial banks introducing withdrawal limits. Consequently, POS operators have compassed the moment to exploit the situation. Investigations have revealed that some bank officials who own POS businesses, channel cash meant for the public to these outfits. This is economic sabotage. These unpatriotic Nigerians must be identified and punished appropriately.
The Acting Director of Corporate Communications at the CBN, Mrs Hakama Sidi Ali, has acknowledged that there has been a rise in the amount of money in circulation. However, she claims that the scarcity of cash is due to individuals hoarding it. This explanation contradicts the actual situation on the ground, as numerous banks have been unable to fulfil the daily requests for cash withdrawals.
This is why it is required for the Federal Government to promptly intervene and resolve the difference between what the Central Bank asserts and the actual availability of cash. They should contemplate raising the limits for cash withdrawals, improving access to banking services in areas that lack sufficient coverage, and partnering with mobile money platforms to offer alternative payment options.
To restore confidence in the banking system and help Nigerians affected by the current liquidity crisis, it is necessary to make coordinated attempts to increase the amount of cash in circulation. This can be achieved by taking strict actions against unfair point of sale charges and implementing measures to safeguard consumers from excessive profit-making. The Central Bank can address the liquidity crisis by implementing these steps, and provide relief to the suffering population.
While we promote alternative modes of payment, including electronic channels, to reduce pressure on cash, the authorities must recognise that resolving the cash crunch is not merely an economic issue. It is a matter of social justice. Every Nigerian deserves easy access to their hard-earned money without being subjected to inordinate drudgery. The government has a moral responsibility to address this crisis swiftly and effectively to restore financial stability and ensure the well-being of all its citizens.

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Editorial

Lessons From UK Polls

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The United Kingdom’s general election of July 4 marks a turning point in the nation’s political land-
scape. It highlights the resilience of its democratic traditions. The peaceful transition of power from Rishi Sunak to Keir Starmer reflects the strength of Britain’s political institutions and the electorate’s ability to effect change.
Moreover, the landslide victory of the Labour Party signifies a potential shift in the country’s ideological trajectory, prompting a reevaluation of its political, economic, and social future. As the nation navigates this pivotal moment, the smoothness of this transition serves as a testament to the stability and adaptability of Britain’s democratic infrastructure.
One of the most striking aspects of the new cabinet is the representation of women, with 11 out of 19 cabinet members being female. This stands in contrast to the situation in Nigeria, where women are severely underrepresented in government, particularly in the Northern states where female participation in politics is almost non-existent. The success of these women in the British political arena serves as a quintessential example for Nigeria, where patriarchy still holds sway and gender equality in politics remains a distant dream.
Eight Nigerian-Britons emerged victorious in the parliamentary elections, garnering adulation from Nigerians both at home and abroad. Their success highlights the importance of merit-based selection in politics, as each Member of Parliament (MP) won their seat on the basis of their personal qualifications and achievements. Unlike in Nigeria, where political appointments are often influenced by money, party leaders, and other extraneous factors, the British system values the power of the voter and respects the rights of every citizen to participate in the democratic process.
The diverse backgrounds and professional expertise of the Nigerian-British MPs further underscore the importance of competence and performance in politics. These individuals, ranging from engineers to lawyers, have earned their seats through hard work and dedication, rather than through political connections or nepotism. Their success should serve as a wake-up call to the Nigerian political system, where the average age of politicians is over 60 and where professional qualifications are often overshadowed by tribal and religious affiliations.
A veteran politician and one of the leading Nigerian-British MPs, Kemi Badenoch, exemplifies the success that can be achieved through hard work and dedication. Despite the challenges faced by her party in the recent election, Badenoch was re-elected on the basis of her qualifications and track record in office. Her appointment as Secretary of State for the Department for Business and Trade is a testament to her capabilities and leadership skills.
The current political climate in Nigeria stands in sharp contrast to the achievements of Nigerian-British professionals in the political sphere. Through their perseverance, commitment, and professional knowledge, Taiwo Owatemi, Chi Onwurah, Kate Osamor, Bayo Alaba, Josh Babarinde, Florence Eshalomi, Helen Grant, and Kemi Badenoch have all been elected to the legislature. This is in contradistinction to the state of affairs in Nigeria, where many politicians are viewed as “professional politicians” who lack distinguishable credentials or sources of income.
Nigeria’s electoral system is radically different from that of Britain, where candidates accept the results of the poll without filing lawsuits. Britain’s electoral procedure is also transparent and effective. But in Nigeria, courts are routinely called upon to resolve electoral disputes since elections are frequently tainted by violence, corruption, and legal problems. Nigeria’s electoral process is not credible due to the absence of intra-party democracy and the involvement of cronies and godfathers.
While the political achievements of the elected Nigerians are commendable, they also serve as a sobering reminder of the weaknesses in our democratic system. After all, competence and performance ought to be the main determinants of electoral success, not religious and tribal affinities as they frequently are in Nigeria. The achievements of these Nigerian-Britons should compel a reassessment of Nigeria’s political environment, highlighting the necessity of a more efficient and responsible democratic system.
Unfortunately, the high rate of litigation in Nigeria’s elections threatens the country’s democratic process, creating tension and uncertainty from pre-election disputes to post-election challenges. This undermines voter choices and trust in the electoral system, raising concerns about the judiciary’s independence. Electoral reforms promoting transparency, accountability, and timely dispute resolution outside the courts are needed to strengthen democracy in Nigeria.
Our nation’s democracy is at a critical point and must evolve to survive. We need to shift away from costly campaigns and prioritise electoral integrity by safeguarding voter rights and promoting transparency. By addressing key national issues, Nigerian politics can become more sustainable and effective. These reforms are essential for our nation to progress towards a more inclusive and representative government.
Nigeria and other countries grappling with democratic government ought to take note of the Nigerian-British MPs’ accomplishments. Political leaders must be held responsible for their acts, and citizenship entails both rights and obligations. To be a really democratic society, where the power of the vote is honoured and protected, a society should be based on competence, performance, and transparency. Then and only then, regardless of origin or background, can we aspire to create a brighter future for every citizen.

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Editorial

CBN And Nigeria’s Cash Crunch

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Nigerians have, again, been thrust into desperation as they grapple with cash shortage that has cast a dark shadow over their daily lives. Months after the Supreme Court’s ruling permitting the coexistence of the old and new naira notes, the crisis persists, leaving countless individuals struggling to secure basic necessities.
The scarcity of naira notes has partially crippled commerce throughout the country, especially in the informal sector. Businesses are incapacitated, unable to complete transactions efficiently, resulting in a slowdown of economic activities. Some people are left in dire straits, desperate for cash to meet essential expenses such as food, transportation, and healthcare, among others.
The cash crisis has created a fertile ground for unscrupulous elements and businesses to engage in predatory tactics. Retailers are exploiting the despair of consumers by overcharging for goods, while others hoard cash to sell at inflated prices. This rampant profiteering has further burdened the already strained financial resources of many Nigerians.
It is deeply concerning that while the citizens are still contending with the fallout of a failed disastrous currency redesign policy last year, the Central Bank of Nigeria (CBN) has initiated another misguided scheme that has exacerbated the scarcity of the legal tender. This ill-conceived move is implemented at a time when Nigerians are already struggling with inflation, rising unemployment, and declining living standards. The CBN’s actions have only served to compound their plight.
The timing of the plan is particularly cruel and demonstrates a fundamental lack of consideration for the well-being of ordinary Nigerians. The Central Bank has failed to adequately assess the severe consequences of its policies on the lives of citizens, who are now compelled to endure an atmosphere of uncertainty and hardship.
Despite the apex bank’s assurances of sufficient naira notes in circulation, the cash dilemma continues to torment Nigerians. The situation has worsened following introduction of withdrawal limits by the nation’s financial authorities, leading to an increased reliance on Point-of-Sale (POS) terminals. However, this dependence has come at a steep cost.
POS service providers have taken undue advantage of the shortage by imposing exorbitant charges, further burdening consumers. The surge in charges has negated the convenience of POS transactions, driving up the overall cost of obtaining cash. The CBN’s claims of adequate cash supply ring hollow in light of the predatory practices of POS operators.
Currently, naira scarcity has gripped major cities across the country, with Automated Teller Machines (ATMs) running dry and commercial banks introducing withdrawal limits. Consequently, POS operators have compassed the moment to exploit the situation. Investigations have revealed that some bank officials who own POS businesses, channel cash meant for the public to these outfits. This is economic sabotage. These unpatriotic Nigerians must be identified and punished appropriately.
The Acting Director of Corporate Communications at the CBN, Mrs Hakama Sidi Ali, has acknowledged that there has been a rise in the amount of money in circulation. However, she claims that the scarcity of cash is due to individuals hoarding it. This explanation contradicts the actual situation on the ground, as numerous banks have been unable to fulfil the daily requests for cash withdrawals.
This is why it is required for the Federal Government to promptly intervene and resolve the difference between what the Central Bank asserts and the actual availability of cash. They should contemplate raising the limits for cash withdrawals, improving access to banking services in areas that lack sufficient coverage, and partnering with mobile money platforms to offer alternative payment options.
To restore confidence in the banking system and help Nigerians affected by the current liquidity crisis, it is necessary to make coordinated attempts to increase the amount of cash in circulation. This can be achieved by taking strict actions against unfair point of sale charges and implementing measures to safeguard consumers from excessive profit-making. The Central Bank can address the liquidity crisis by implementing these steps, and provide relief to the suffering population.
While we promote alternative modes of payment, including electronic channels, to reduce pressure on cash, the authorities must recognise that resolving the cash crunch is not merely an economic issue. It is a matter of social justice. Every Nigerian deserves easy access to their hard-earned money without being subjected to inordinate drudgery. The government has a moral responsibility to address this crisis swiftly and effectively to restore financial stability and ensure the well-being of all its citizens.

Continue Reading

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