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Nigeria’s Bleeding Economy And Quest For A Sound CBN Governor
By Yakubu Sani
At no time in history has the global social and economic dynamics been so challenged like now. It is coming at a time of Nigeria’s transition from one government to another. The good thing is that the president-elect, Bola Ahmed Tinubu, is a man of excellence, who has been roundly acknowledged as a recruiter-in-chief. He will go the breadth and length of every circumstance to get eggheads into his government. He is a man who doesn’t take no for an answer.
A time of economic uncertainties such as this requires Nigeria’s best brains to ensure quick wins. Despite the scepticism by cynics, those who believe in the in-coming government are beginning to set agenda and putting timelines to deliverables. If this optimism must see the light of the day, competent Nigerians must be drafted to manage the economy. It has been said that the height of any building depends on its foundation. Hence, for Tinubu to demystify or shame cynics and nay sayers he must go for the best.
For any government to succeed and even surpass the expectations of its citizens, keen interest must be given to who heads the Central Bank of Nigeria (CBN) because the success or failure of any government depends largely on diligent and meticulous implementation of sound macro and micro economic policies. And it takes those who have learnt through the ropes.
Such technocrats are not in short supply in Nigeria. The country boasts of financial technocrats who have risen to the top in their banking career through dint of hard work, diligence and character.
Experience has shown that talent is not just enough. There is no doubt that the incoming president who is a recruiter of the best hands would also go for someone of impeccable character to head the apex bank. Nigeria has financial czars and unparalleled boardroom gurus who match the man Tinubu needs to handle the CBN, especially at such auspicious time as this – a financial expert who has remained unblemished all through his career in the banking sector.
A time-tested saying goes that “the reward for great work is often more work.” Similarly, the 26th president of the United States, Theodore Roosevelt, was famously quoted to have said, “The best prize that life has to offer is the chance to work hard at work worth doing.”
Throughout history, it has been proven true that the best way to get things done is to put square pegs in square holes. That is why governments around the world spare no efforts in identifying and paying anything to recruit men/women steeped in hard work, diligence, character and charisma to bestow on them more responsibilities because they have earned the accolades and credibility of a square hole.
The foregoing epitomises specific persons who are everything rolled into one. The CBN needs a governor who rose through dint of hard work, character and expertise. In view of the series of financial policy summersaults Nigeria has suffered in the last few years that has culminated in grave economic hardship for Nigerians, a technocrat with magical hands must be drafted to the CBN immediately Tinubu is sworn in to kick start the process of economic recovery and growth.
In retrospect, there must be one among the army of seasoned bankers who must have understood in clearer terms the Mahatma Ghandi’s assertion: “Live as if you were to die tomorrow. Learn as if you were to live forever.”
We have Alumi of some Ivy League institutions ranked among top echelons of training schools globally where they were trained in Advanced Management Programme (AMP). They attended the highest citadels of learning in the world like Havard University and University of Liverpool, among others. They are a perfect example of those that should constitute the economic engine room of any government.
Nigeria has financial magnates who have garnered immeasurable experiences and expertise to serve this nation. If we are serious about strengthening our currency and recalibrating our economy back on the path of recovery, we must go for such best hands. From antecedents, this is not an onerous decision for Tinubu because he has proven for the umpteenth time that he is a hunter of excellence and competent hands.
All Tinubu needs to do is to beam his searchlight on banks and sniff out serving Managing Directors/CEOs who have been at the leadership of dynamic teams that have turned financial institutions around from insolvent and loss-making banks plagued by high levels of non-performing loans, unprofessionalism to their current position as a growing export credit agency or development banks with core mandates in non-oil export development in line with government’s policy on diversification. There are banks that have now become strong players in financing and promoting export trade in Nigeria with very profitable operations.
I know of one who has in his Kitty 31 years of cognate experience in Banking, with numerous Nigerian banks, rising up to be the pioneer MD/CEO of United Bank for Africa in Chad and Zambia.
He specialises in the management of complex multi-cultural environments and employees at international levels. His experience in strategic forward-planning; operating within the tight financial disciplines imposed by ambitious targets which he helped to plan; methodical administration to deadlines and the application of modern leadership methods, through staff motivation and involvement in both decision-making and target-setting, clarity in communication, and easy personal inter-relations.
Over the course of his career, he had extensive experience in Development Finance (Export Development and Finance), Corporate Banking, Regional and Commercial Banking and Public Sector. He singlehandedly set up two International Bank subsidiaries with different cultural backgrounds that have left him confident in effective leadership, handling negotiations and the winning attitude.
As the MD/CEO of United Bank for Africa Zambia Limited between July 15, 2009 and December 2012 he was charged with the responsibility of setting up the operations of the bank in Zambia. This involves among others setting up the operational guidelines of the bank in line with the Group’s operational framework. He was also responsible for setting up Strategic Initiatives for entry into the Zambian banking space, employment of key staff, managing the setting up of the infrastructure of the bank.
He also obtained the first banking license for a Nigerian bank in Chad and became the pioneer MD/CEO.
Between August 2005 and June 2006, he was the Group Head, Telecoms & Tech Corporate Banking, UBA Plc. He successfully arranged the largest syndicated loan facility for Celtel/Zain Nigeria Limited; UBA’s participation was to the tune of $60 million and N75 billion. He also arranged vendor financing schemes for MTEL/Motorola $300m, as well as Vendor Finance Facility Celtel/Harris Communications with a total of over $120m. UBA became the 5th largest collector of telecom revenues during this period. He also set up the Risk Management framework of the subsidiary in line with the group standard and international best practice.
Between June 2004 and August 2005, he served as the Zonal Head, Standard Trust Bank Plc, Apapa, Lagos. Under him, the zone with a total number of seven branches became the most profitable zone of the bank nationwide.
The bumper resume extends to his time as the Group Head of Conglomerates and Manufacturing, Corporate Banking, Standard Trust Bank Plc between November 2003 and June 2004. In this capacity, he managed the bank’s portfolio for conglomerates and manufacturing. Among the companies managed are Dangote Group, Unilever Nigeria Plc; SCOA; Michelin Group; UAC Nigeria Plc; UTC Nigeria Plc; Mayor Group; Lee Group etc.
He was the Chief Marketing Officer, North, Standard Trust Bank Plc between April 2002 and October 2003. He was in charge of all the 11 branches and Public Sector Business of the Bank in the North Region of the Nigeria, responsible for the signing up of Zamfara State Statutory and IGR accounts.
Between April 2000 and October 200, he was the Regional Head, North Continental Trust Bank Ltd, Kano Pioneer Regional Director, after the bank’s conversion from merchant banking to commercial banking. He opened the branches of the bank in Kaduna, Kano, Damaturu, Maiduguri.
Within the backdrop of such a résumé and the dire economic diversification need facing our nation, the incoming government of Bola Ahmed must look urgently in the direction of such consummate technocrats. After all, the reward for good work is more work.
– Sani, an economic expert, sent this piece from Lagos
A new terrorist group known as Mahmuda has emerged in Nigeria’s North Central region, launching deadly attacks on communities surrounding the Kainji Lake National Park (KLNP), according to local sources and a report by Sahara Reporters.
The group, which operates with impunity in the national park spanning Kwara and Niger states, has besieged villages in Kaiama and Barutein Local Government Areas (LGAs) in Kwara, as well as Babana and Wawa districts in Borgu LGA, Niger State. On Wednesday, Mahmuda militants attacked a vigilante group in Kemanji, Kwara, killing over 15 vigilantes and villagers, a source confirmed.
“They call themselves the Mahmuda group. Their leader, in a voice note, is threatening all the communities. They kill, kidnap victims, and demand ransom,” a local source told Sahara Reporters.
The KLNP, covering 3,970.29 square kilometres, has become a haven for the militants, who reportedly displaced park rangers over five years ago.
Sources trace the group’s origins to Mokwa LGA in Niger State, from where they were expelled by former Governor Muazu Babangida Aliyu, who accused them of being Boko Haram affiliates.
The group then relocated through various regions, including Kaduna State, before entrenching themselves in the KLNP.
A recent audiotape from the group’s leader suggests they are a moderate Islamist sect that splintered from the extremist Boko Haram faction led by Abubakar Shekau.
The militants, who primarily speak Hausa, identify as the Mahmuda or Mallam Group and claim to be jihadists promoting Sunni Islam.
The Mahmuda group has imposed a reign of terror on local communities.
Herders pay dues to graze cattle, farmers pay levies to access farmland allocated by the militants, and residents are forced to work on the group’s farms as “sadaka” (charity).
The militants also kidnap locals for ransom, mount illegal roadblocks, and regulate social activities, banning alcohol sales and smoking while settling community disputes.
“They preach Islamic ethics, urge disloyalty to the Nigerian state, and insist disputes be reported to them,” a source said, adding that the group is recruiting locals as informants.
Unconfirmed reports suggest the militants are engaged in illegal mining within the park and threaten herbalists suspected of aiding vigilantes.
In a bid to consolidate control, the group has expelled bandits from the park, kidnapping or executing their collaborators after collecting ransoms.
The rise of Mahmuda highlights Nigeria’s growing insecurity, with ungoverned spaces like the KLNP enabling militant groups to thrive.
Loggers, fishermen, and hunters exploit the park’s resources, with some loggers reportedly negotiating with the militants to harvest trees, providing the group with revenue.
“The surge of insecurity in Nigeria is a source of concern due to its destructive impact on livelihoods,” a source noted.
“New militant groups continue to emerge and occupy ungoverned spaces.”
Locals suspect the authorities are aware of the group’s activities but have failed to act, possibly due to the militants’ sophisticated weaponry. Vigilante groups, frustrated by the lack of security intervention, have resorted to collaborating with Mahmuda to rescue kidnapped victims, further complicating the situation.
The Mahmuda group’s control over a vast swathe of Nigerian territory underscores the challenges facing the country’s security forces. With communities living at the mercy of the militants, the group’s blend of coercion, religious rhetoric, and economic exploitation poses a significant threat to stability in the region.
As Nigeria grapples with this emerging menace, questions remain about the group’s true origins and affiliations. Some locals speculate the militants may have ties to groups from Benin or Niger Republic, while others see parallels with Boko Haram’s tactics. Further investigation is needed to unmask this faceless group and address the crisis in the KLNP.
By Israel Bulus, Kaduna
The Caleb Danladi Foundation has called on the Ham people to embrace unity, cultural pride, and community-driven development as they mark this year’s Easter and Tuk-Ham Day celebration on Saturday.
In an Easter goodwill message signed by the Founder, Capt. Caleb Danladi, the Foundation emphasized the significance of the season as a symbol of hope, renewal, and the enduring triumph of light over darkness.
“As we gather in this sacred season of Easter, the Caleb Danladi Foundation extends warm wishes of peace, love, and renewal to all our friends, partners, and the entire Ham community,” the statement read.
Caleb emphasized that the Tuk-Ham Day celebration, offers a unique opportunity for the people of Hamland to reflect on their shared history, cultural values, and aspirations.
“Tuk-Ham Day is more than a celebration. It is a reminder of who we are—a resilient, proud, and culturally rich people.
“As we mark Easter and this special day, we must recommit ourselves to preserving our heritage and empowering the next generation,” he said.
He added that the Foundation remains committed to supporting youth empowerment initiatives and cultural preservation efforts across Southern Kaduna.
“Our youth are the heartbeat of our future. We must invest in their education, leadership, and entrepreneurial capacity. That is why the Caleb Danladi Foundation is supporting platforms that raise leaders, thinkers, and doers from our communities,” he stated.
Several dignitaries, traditional rulers, and members of the Ham diaspora are expected to be present at the event, to featured cultural displays, musical performances, and community development dialogues.
Tuk-Ham Day is an annual celebration observed by the Ham people of Southern Kaduna, Kaduna State. It is a cultural renaissance that brings together sons and daughters from across the globe to celebrate their identity and build a stronger community.
A coalition of 774 civil society organisations has lauded President Bola Tinubu, Minister of Defence, National Security Adviser Mallam Nuhu Ribadu, and Nigeria’s security forces for their “remarkable progress” in curbing insecurity across the country, claiming a 90% reduction in violence and unrest.
In a statement issued on Friday, the coalition’s publicity secretary, Michael Chukwuma, hailed the administration’s achievements.
He stated that : “In just two years, this government has accomplished what previous administrations failed to do in decades.”
He highlighted restored peace in regions like Kaduna and the Northeast, where farmers have returned to their fields, travellers move freely, and communities feel safer.
He said within two years,bandit commanders and lieutenants, including the following, were killed:Halilu Sububu, Ali Kawajo, Dangote Kachallah, Murus Dan Tsoho, Mino Kachallah, Barumi Kachallah, Jafaru Kachallah, Kachallah Maibuhu Yellow, Yellow Dan Tsoho, Kachallah Dan Muhammadu, and Kachallah Makarko.
Others include Kachallah Hassan Yellow, Kudairu Kachallah, Kachallah Dan Baburki, Kachallah Mai Jankai Dan Auta, Kachallah Dan Isihu, and Kachallah Mati.The troops also eliminated thousands of their members.
In light of these achievements, we commend the federal government and encourage them to continue their efforts.Changes made:
Chukwuma described the security forces and leadership as “patriots who forgo sleep so we may rest in peace,” urging Nigerians to support their efforts rather than criticise them.
He accused detractors of undermining progress for ulterior motives, questioning their silence during past administrations when insecurity was rampant.
“Their complaints today ring hollow,” he said.
The coalition called for collective action, stressing that combating insecurity is not the government’s burden alone.
“Every Nigerian has a role to play,” Chukwuma said, urging citizens to report suspicious activities and foster unity.
He also called on state governors to prioritise citizens’ welfare over personal luxury, particularly in states like Zamfara, where hunger and fear persist.
The group encouraged Nigerians to hold leaders accountable while supporting their efforts to build a safer nation.
“Together, we can ensure every road is safe, every farm thrives, and every child dreams without fear,” Chukwuma said .