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The Obsessive Quest For Saraki’s Head: FG, APC, And The Old Power Brokers — Victor Ojelabi

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Senator Bukola Abubakar Saraki is a member of the ruling class by birth, having been born into the Senator Olusola Saraki’s political dynasty in Kwara State.

The young Bukola, like most privileged children of the elites, had his path to success well laid out. He had the best education both in Nigeria and the United Kingdom.

He also quickly cut his teeth in leadership at a tender age, jumping on the board of Societe Generale Bank in 1990 at just 28, after a one-year practice as a medical professional in the UK. Bukola had rapid boardroom capacity development and corporate leadership in the space of 10 years with SG (1990-2000).

And at the young age of 38, he entered into public service, becoming the Special Assistant on Budget to President Olusegun Obasanjo in 2000. He held this position for the president’s full first term and was credited for initiating the famous and widely praised Fiscal Responsibility Bill. 

In 2003, Bukola Saraki took his political career home to Kwara State, where he contested and won the seat of Governor with a large margin. Many attributed his victory to the existing political power structure of his father, but Saraki would prove everyone wrong when he went against his father’s dictates and contested against the Saraki’s political lever in 2007. He emerged victorious again, and just then announced his arrival to mainstream politics in one single swipe. 

Bukola Saraki was no longer that protegee and son of Chief Olusola Saraki, who enjoys the mercies and support of his father’s friends -individuals (mostly retired generals and first republic politicians) who maintained a nation-wide grip of power, each running their own political caliphates, states by states, zone by zone.

Bukola became a brewing storm in the teacup because the growth of his influence was sporadic, his political style unusual, views contemporary and revolutionary. Bukola came with the position that threatened control and centralization of power.

There was a worry about his mysterious style, unpredictability, unusual desire and ability to work with people across political divides. He had also proven to be too independent and headstrong, that quickly cemented the perception that the boy was headed for a solo run, a development that started setting out political enemies and stiff opposition for the new Saraki.
Power brokers started noticing how this new kid on the block gets through with all he sets to do politically, without an expected subscription to the loyalty demands, nor referencing of the supremacy of the power court. The Saraki Jnr at this point, had gone rogue.

He would beat off his father’s power play to take one of the three senatorial seats in Kwara, after successfully doing two terms as governor and installing his chosen successor. Even so, just at his second term as a senator of the federal republic, Bukola Saraki played grandiose national politics by winding his way to the seat of the senate president, against the wish of his party and national political bigwigs. Dr. Bukola Saraki’s adversary grew quite rapidly. Even now, drawing battle plots all across the country, particularly with the organized political South West, whose regional agenda (as led by Senator Bola Ahmed Tinubu) took a massive hit with Saraki’s emergence as Senate president.

Into his term as Senate President, Bukola Saraki was famous for his independent opinions and audacious stand against the Federal Government and his party’s leadership. He led the 7th assembly to earn the reputation of total independence, an impressive allusion to the principle of separation of power.

For the first time in Nigeria’s about 2 decades of democracy, there was a Senate that was largely non-partisan. Bukola’s complete grip of the very volatile senate presidency seat shocked many. In previous assemblies, Senate leadership was only as stable as the extent of party loyalty.

Here was a 50-year-old senate president whose leadership was never in contention, had to support across party lines and even enjoyed the activism of some apostle-colleagues, who would go against any view or move to unsettle or question his authority. Without any doubt, Saraki led the most independent and stable Senate in our recent political history.

This also came with its own harvest of political enemies. Young Saraki in his political journey had congregated so much foe-men that it is not illogical to expect the relentless call for his head.

In the space of 12years from when Bukola rooted his political career as Governor of Kwara state, there hasn’t been a year without a big case hanging over his head. From anti-graft bodies to party’s disciplinary committee, the police force, DSS, and recently the Code of Conduct Bureau, Bukola Saraki seems to be under constant investigation, always answering to one summon or the other. 

This dates back to his tenure as Kwara State governor, particularly during his second term. Senator Abubakar Saraki, his wife, family, friends, and associates had government searchlight constantly beamed at them. From 2003 – 2007, Saraki had seven separate investigations done on him by the EFCC, none of which resulted in any conviction. The matters either ended in a judgment in Saraki’s favour or a total case abandonment for lack of merit and traction. 

The Economic and Financial Crimes Commission(EFCC) has had a steady run on Saraki. In more recent times this seems to have garnered more fire. A lot of people keep wondering if the resources available to the EFCC suddenly swells when it bothers on anything Saraki. For an organization that has a hip of inconclusive case files in several courtrooms across the nation, it is bewildering that it seems to open fresh cases against the Senate president every 6-8months.

Questions are being asked if this special attention to details and concerted effort is not worthy for the investigation and conviction of several public office holders the organization has fingered in recent times.

There is also a particular momentum in the unearthing Saraki’s dirts’ effort of the Magu dispensation of the EFCC. It seems rather peculiar to Saraki, that even hitherto closed investigation, some over a decade-old, are getting reactivated. Previous EFCC bosses reached conclusions on some allegations of financial crime against Saraki during his term as Kwara Governor. It is strange that Magu would discredit the positions of his predecessors by launching new inquiries into activities as far back as 16 years. Kudos to that level of commitment from an EFCC boss who took 17 months to charge former SGF, despite the substantial report of the Presidential Investigation Panel (led by Vice President Osinbajo) that led to his sack. 

This backward pry into Saraki is also very unique to him. Erstwhile governors of same dispensations as Saraki, whose investigation and prosecution on financial crime matters was hindered by immunity are still drumming their political careers at this time without any worry. This preference for Saraki’s cases only lifts the lid on people’s curiosity. Could there be a covert intent and purpose of the Magu-led EFCC on Saraki?.

Will it be out of place to adduce that it has a spatial relation with the Senate’s refusal to confirm Magu as the substantive chairman of the EFCC? 
Since Ibrahim Magu was appointed by Buhari as EFFC chair in November 2015, he has worked in an acting capacity, since the Senate rejected his appointment on two occasions.

With this Magu will be the ONLY chairman of the EFCC, whose appointment was never confirmed. You would recall that the Senate had unanimously voted to reject Magu based on the report of the SSS about his suitability for the job, but Buhari has kept him as chairman rather than send a replacement to the Senate. It is rather too circumstantial that the leadership of the Senate quickly attracted the investigative powers of Mr Magu’s EFCC more vigorously after. 

In September of 2006, Nuhu Ribadu, then Chairman of EFCC, took to the floor of the Senate to give a clean bill to six states, of which Kwara was one. Under Ribadu’s successor Waziri’s Chairmanship, Kwara Local Council was investigated in 2010 at the time that Dr Saraki joined the presidential race. Then, in 2011 at the same time that the Senator raised a motion on the floor of the senate, he was investigated by SFU, but the Ministry of Justice wrote to him clearing his name of any wrongdoing. Meanwhile, under his Governorship, Kwara State was the first state to open its accounts up to public scrutiny, and the first to gain an internationally recognized Fitch credit rating. 


Notably, most of the investigations have taken place after Senator Saraki raised issues of public concern, such as the mismanagement of the fuel subsidy, or when he was pursuing his presidential ambition.

The newly announced investigations, by EFCC, on Saraki’s time as Governor which ended over 12 years ago, point to questionable motivations for the investigations.

In 2003/4, whilst Governor, Senator Saraki gave up his immunity to answer questions on SGBN and till date, he is one of only two governors in the history of Nigeria to ever give up immunity.

Victor Ojelabi is a social commentator, wrote from Ilorin, Kwara State.

BIG STORY

UBA, Wema, GTB Resume International Transactions On Naira Cards After Years Of Suspension

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Three commercial banks in Nigeria have revealed the recommencement of international transactions on their naira cards. In separate messages to customers, the United Bank of Africa (UBA), Wema Bank, and Guaranty Trust Bank (GTB) confirmed that the service is back on their naira cards. This change comes about three years after several banks halted international transactions on naira debit cards.

In a recent notice to customers, UBA stated the resumption is part of its ongoing commitment to delivering seamless and improved banking experiences. “In line with our continued commitment to providing you with seamless and enhanced banking experiences, we are pleased to inform you that all UBA Premium Naira Cards, including Gold, Platinum, and World variants are now enabled for international transactions,” the message read. “This means you can now use your Premium Naira Card for everyday payments, online shopping, POS, and ATM transactions across the world, with more ease and flexibility. If you haven’t used your card recently, now’s a great time to rediscover the convenience and prestige that comes with being a UBA premium cardholder.”

In its own statement, Wema Bank informed customers they could now “pay in dollars” using their naira cards. “Your Wema Naira Mastercard just went global! Now you can pay in dollars on all your favourite international platforms; Amazon, eBay, AliExpress? Netflix, Spotify, YouTube,” the bank noted.

In an email to customers, GTB explained that users can spend up to one thousand dollars every quarter with its naira card worldwide. “We are pleased to inform you that you now have a quarterly limit of $1,000 on your GTBank Naira Card to pay for all your favourite things anywhere in the world,” it said. “Withdrawals at ATMs Abroad: $500 quarterly. Online and POS Transactions: $1,000 quarterly. Kindly note that the quarterly limit of $1,000 covers all transactions including ATM cash withdrawals abroad, purchases on international websites, POS payments outside Nigeria, and more.”

WHY BANKS ARE MAKING THE SHIFT

Ayokunle Olubunmi, head of financial institutions ratings at Agusto & Co, explained that the improved liquidity in the foreign exchange (FX) market encouraged banks to restart global transactions with their naira cards. “The moderating premium on the parallel market transactions and the reduced arbitrage opportunities is also responsible for the decision,” he said.

Charles Sanni, chief executive officer of Cowry Treasurers, told TheCable that the smaller spread between the official and parallel market rates likely influenced the move. He added that interest rates are very high in Nigeria, which discourages borrowing to speculate on foreign exchange. “The naira has also continued to appreciate against the other major currencies of the world. More so, there has been increased diaspora remittances based on the new policy of the Central Bank of Nigeria (CBN) on opening of accounts for non-residents, particularly Nigerians in diaspora,” he explained.

Sanni also pointed to renewed confidence in FX management by the federal government and the CBN, noting improvements in fund transfers and capital repatriation. He mentioned that factors such as an improved credit rating for Nigeria, the clearance of FX backlogs, a “new trading platform, increase in oil prices from geopolitical conflicts, and banks capitalisation” also played a role.

Between July 2022 and January 2023, several other banks had also temporarily stopped international transactions on ATMs and POS channels. The pause was due to severe FX scarcity, which posed a risk to vital sectors of the economy.

In July, Standard Chartered Bank halted international transactions on its naira visa debit card. First Bank of Nigeria (FBN), on September 21, 2022, announced it would stop international transactions on its naira Mastercard. Three months later, Guaranty Trust Bank (GTBank) suspended global payments on its naira Mastercard, and Zenith Bank followed suit on January 9, 2023.

Flutterwave, Eversend, and other fintech platforms also suspended their virtual card services for international transactions.

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BIG STORY

BREAKING: Court Finds Natasha Guilty Of Contempt, Fines Her N5 million

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The Federal High Court in Abuja on Friday convicted the senator representing Kogi Central Senatorial District, Natasha Akpoti-Uduaghan, for contempt over a satirical apology she posted on her Facebook page on April 27.

Justice Binta Nyako, delivering judgment in the suit filed by Senator Akpoti-Uduaghan challenging her suspension, began with the contempt application submitted by the Senate President, Godswill Akpabio.

Akpabio, in his application, argued that the senator’s social media post breached an earlier court order that restrained all parties from speaking to the press or posting on social media about the matter.

Akpoti-Uduaghan’s counsel contended that the post was unrelated to the court’s order on her suspension but was about a separate matter involving sexual harassment claims against the third respondent (Akpabio).

However, Justice Nyako ruled that after reviewing the post and the application before her filed by the third respondent, she was convinced it was connected to the suspension case before the court and therefore declared the plaintiff guilty of contempt.

The judge directed Akpoti-Uduaghan to publish an apology in two national newspapers and on her Facebook page within seven days. She also imposed a fine of N5 million.

 

More to come…

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BIG STORY

BREAKING: Court Orders Senate To Recall Suspended Natasha Akpoti

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A Federal High Court sitting in Abuja on Friday ruled that the Nigerian Senate exceeded its powers by suspending Senator Natasha Akpoti-Uduaghan for six months, ordering her to be immediately recalled to the Red Chamber.

Justice Binta Nyako, delivering the judgment, described the suspension period as “excessive” and lacking a solid legal basis.

The court stated that both Chapter 8 of the Senate Standing Orders and Section 14 of the Legislative Houses (Powers and Privileges) Act, which the Senate relied on, do not specify a maximum suspension length. Therefore, their application in this situation was considered overreaching.

The judge noted that since the National Assembly is only mandated to sit for 181 days in a legislative year, suspending a lawmaker for about the same length of time effectively silences an entire constituency, calling it unconstitutional.

“While the Senate has the authority to discipline its members, such sanctions must not go so far as to deny constituents their right to representation,” Nyako ruled.

However, the court agreed with Senate President Godswill Akpabio on a different issue, ruling that his decision to prevent Akpoti-Uduaghan from speaking during a plenary—because she was not in her designated seat—did not violate her rights.

Nyako also dismissed Akpabio’s argument that the judiciary should not interfere in what he described as an “internal affair” of the legislature, saying fundamental rights and representation fall squarely within the court’s jurisdiction.

In a separate twist, the court imposed a monetary penalty on Akpoti-Uduaghan for violating an earlier court directive that barred both parties from making public comments about the ongoing legal proceedings.

The fine amounts to millions of naira.

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