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Democracy has failed in Africa , says Obasanjo

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Former President Olusegun Obasanjo has said Africa needs a democracy of its own context that delivers to all people.

Obasanjo said this on Monday in Abuja, while speaking at a Colloquium to mark the 60th birthday of former Imo Governor, Emeka Ihedioha.

He said that to sustain democracy in the continent, Africa needed one that delivers to all people, not to few section.

He noted that the Greek model of democracy, ensured that all citizens participated directly in their affairs, adding that what was praticable now was a representative system, that does not taken care of everybody.

He added that before the colonial rule, Africa practiced democracy, a system of government which attended to the needs of her people.

Obasanjo lamented that in Africa, democracy was becoming a system of government by a small number of people over a large population.

“Is democracy failing in Africa? Are we talking of democracy or western liberal democracy?

“Abraham Lincoln describes it as a government of the people, by the people and for the people. But what do we have today?

“The Greek democracy affects everyone, but democracy has now become representative democracy and it doesn’t taken care of everyone.

“Democracy in Africa has failed because it’s not African, it doesn’t have our culture and way of lives.

“Democracy is dying in Africa and to save it, it should be made in the context of Africa,” Obasanjo said.

Similarly, the Catholic Bishop of Sokoto, Bishop Hassan Kukah, described democracy in Africa as a work in progress.

“We Africans inherited a system that’s not ours, but we can’t say its not relevant to us.

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“There are differences between democracy in Asia and that of Africa. What do you make of the tenets of democracy in Africa?

Kukah noted that democracy was about equity and justice, adding that there must also be a mechanism for measuring the growth of democracy.

“The democratisation of development leads to the development of democracy. That is if you decide to equitably democratise development, and not take every institution, university, medical school whatever to your village and if all the roads are done

“If we do not have a mechanism by which we are measuring our growth, our chase for a democratic society becomes an empty chase.

“Democracy and its principle are endless contestation of ideas, opportunity and privileges. Those who are privileged want to hold on to their privileges and those who are victims want to insist that life can be better,” Kukah said.

In the same vein, the Labour Party Presidential Candidate in the 2023 Presidential election, Peter Obi, urged Nigeria to imbibe the Indonesian democracy, which endures a proportional representation system of government.

Also, the former Secretary-General of the Commonwealth, Chief Emeka Anyaoku, said that Nigeria could get rid of the crises which impede her development, through stable democratic governance.

Anyaoku said that Africa and Nigeria in particular, have the responsibility to get a stable democracy and change the Eurocentric narrative.

“True federalism is the answer to the management of national issues. The recent coup in Mali, Niger tend to take us back.

“The nature of our politics and the conduct of our politicians is another problem of our democracy. They have become instruments of capturing political power,” he said.

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In his remarks, Ihedioha commended the guests for celebrating him at 60.

He urged Nigerians to continue to defend the country’s democracy.

According to him, my father told me that the most expensive habit is having friends. I have lived my life pursuing the cause for democracy.

“We should all rise to defend democracy. I urge all men to always speak truth to power and protect democracy.

“There’s life after money. I will remain who I am. For me and democracy, it is till God do us apart,” Ihedioha said. (NAN)

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EFCC Secures Arrest Warrant For Six CBEX Promoters Over ‘$1bn Fraud‘

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A federal high court in Abuja has granted permission to the Economic and Financial Crimes Commission (EFCC) to arrest and detain six Crypto Bridge Exchange (CBEX) promoters over allegations of investment fraud to the tune of over one billion dollars.

Emeka Nwite, the presiding judge, gave the order following an ex parte application moved by Fadila Yusuf, counsel to the EFCC.

In the application by the EFCC, the six suspects are Adefowora Olanipekun, Adefowora Oluwanisola, Emmanuel Uko, Seyi Oloyede, Avwerosuo Otorudo and Chukwuebuka Ehirim.

The commission sought an order of the court for a warrant of arrest of the defendants.

They also prayed the court for “an order remanding the defendants in the custody of the complainant/applicant pending the conclusion of investigation of the alleged offences and possible prosecution”.

Yusuf said that the defendants are at large and a warrant of arrest is required to arrest the defendants for proper investigation and prosecution of this case.

In the affidavit in support of the motion, the EFCC said preliminary investigation into the intel revealed that the defendants “using their company ST Technologies International Limited, promoted another company Crypto Bridge Exchange (CBEX) by making adverts and lured unsuspecting members of the public to invest crypto cryptocurrencies on the CBEX investment platform”.

The EFCC said the defendants promised an unrealistic return on investment of up to 100 percent.

“The victims were made to convert their digital assets into a stablecoin of USDT for onward deposit into the suspects’ crypto wallet,” Yusuf said.

“The victims were initially given full access to the platform to monitor their investment.

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“Following the deposits valued at over $1 billion by the victims, the CBEX investment platform became inaccessible to them, and they could no longer withdraw from the investment made.

“The victims later discovered that the said scheme is a scam.

“During the course of investigation, it was discovered that the said ST Technologies International Limited, though registered with the Corporate Affairs Commission (CAC), it was not registered with the Securities and Exchange Commission (SEC) for investment purposes.

“It was also discovered during the investigation that the defendants had moved out of their last known address in Lagos and Ogun states.”

The anti-graft agency said obtaining a warrant of arrest was necessary in order to place the defendants on a watch list, enabling authorities to trace and apprehend the suspects to face the charges brought against them.

Nwite granted the request for a warrant of arrest and remand, adding that the order was necessary to enable the commission to apprehend the defendants and conclude its investigation.

“I have listened to the submission of the learned counsel for the applicant,” Nwite said.

“I have also gone through the affidavit evidence with exhibits thereto, along with the written address.

“I am of the view and I so hold that the application is meritorious.

“Consequently, the application is granted as prayed.”

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2025 UTME begins nationwide

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The 2025 Unified Tertiary Matriculation Examination (UTME) has begun across Nigeria, with nearly two million candidates participating at hundreds of Computer-Based Test (CBT) centres.

The examination started as planned at all accredited CBT centres in Abuja and likely across other locations nationwide.

A visit to Zinaria International School Mararaba, Nasarawa state as CBT centre, candidates arrived as early as 6am for those scheduled for the 7 a.m. session.

Speaking to NATIONAL ACCORD at the centre, the Biometric Verification Officer, Jamila Karimu disclosed that out of 250 candidates that were expected to sit for the first session, 238 candidates were successfully verified, while 12 candidates were absent.

As for the External Supervisor, Comfort Ochepo, apart from 2-3 candidates who initially found it difficult to access verification, every other things went seamless.

According to her the first session started as early as 8:10am and that the second was expected to start at 1:30pm.

On the issue of security, he noted that apart from the school security agents, external securities were deployed to maintain law and order during the examination.

Also, the Resident Monitor, Ramat Ali, disclosed that apart from the few issues of the system disconnection which were solved immediately, the examination went seamlessly.

Susan Arigu, a candidate said they have no prble logging into the system and that the exercise was hitch free.

Another Candidate, Joseph James, who told our Correspondent that he sat for last year UTME and had to resit this year because he had deficiency in his WAEC added that he found mathematics a little difficult, he believes he will scale through.

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JAMB Registrar Prof. Ishaq Oloyede assured candidates of a smooth experience. “We’ve introduced innovations to enhance the system’s credibility, efficiency, and seamlessness,” he said.

The UTME, conducted by the Joint Admissions and Matriculation Board (JAMB), tests candidates seeking university admission.

A few weeks ago, JAMB held a mock-UTME for 211,000 candidates. The board clarified that mock results would not count towards the main UTME scores. Introduced years ago, the mock-UTME helps candidates experience the exam format, overcome anxiety, and allows JAMB to test new strategies for the main exam, which began on April 24.

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IMF urges Nigeria to be prudent in spending

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The International Monetary Fund (IMF), has urged Nigerian Government to be prudent in spending following implementation of hard economic reforms that has made it to save more revenue.

The Director, Fiscal Affairs Department IMF, Vitor Gaspar, said this at a Fiscal Monitor news conference at the ongoing 2025 IMF/World Bank Spring Meetings in Washington D.C. on Wednesday.

He said that there was an urgent need for fiscal authorities and governments to build buffers.

According to him, governments need to act urgently and decisively as they face harsh trade offs and painful choices.

He said it was important for policy makers to invest their political capital in building confidence and trust that starts with keeping their own houses in order.

” This is especially important in a situation that tests the resilience of individual economies, not to mention the entire system.

“Putting house in order involves three policy priorities. first, fiscal policy should be part of an overall policies.

“Secondly, fiscal policy should in most countries, aim at reducing public debt and rebuilding buffers to create space to respond to spending pressures and other economic shocks through a credible medium term framework.

“Thirdly, fiscal policy should together with other structural policies, aim at improving potential growth, thereby easing policy trade offs in these times of high uncertainty.

“Fiscal policy must be an anchor for confidence and stability that contributes to a competitive economy, delivering growth and prosperity for all ministers of finance must build trust, tax fairly, spend wisely and take the long team,” the director said.

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The Nigerian Division Chief in the Fiscal Affairs Department of the IMF, Davide Furceri, said that Nigeria had been able to make some of those painful choices to have space for fiscal savings but it needs to spend wisely.

“Nigeira managed to do a very difficult reform that was important in delivering fiscal savings.”

Furceri said that the country need to focus on boosting revenue through improved mobilisation efforts, and secondly, scaling up spending in key areas like social protection and investment.

“That said, we understand that many countries, including Nigeria, face pressing spending needs. But spending must be done wisely, this means stronger prioritisation and greater efficiency in how resources are allocated.

“One key message not just for Nigeria, but for many countries, is the importance of strong fiscal institutions. Medium-term fiscal frameworks and solid public financial management systems.are essential.

“They provide a fiscal anchor to guide necessary adjustments and help reduce uncertainty. We want fiscal policy to be a source of stability, not a source of volatility,” he said. (NAN)

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