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2023: Where are the Masquerades?

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By Dakuku Peterside

There are masquerades in every culture and the life of every individual. The masquerades wear masks for different reasons – from prevarication, illusion, fantasy, fright, horror to protection. No matter the reason, masquerades thrive by covering up who they are and taking up a persona unique to the image they want to portray.

This image becomes the identity of the masquerade.
And the persona behind the masquerade dies for the masquerade’s persona to live.
In most cultures, it is a taboo to unmask a masquerade. Even at the threat of losing its life, a masquerade will fight to hide the identity of the person behind the mask.

In the past, masquerades were a rarity and often appeared on special occasions and festivities.

Nowadays, both literally and metaphorically, we are all masquerades. We wear masks these days as a necessity. Facial masks existed before COVID-19, but the coronavirus, at best, only heightened its usage. The face mask, during this pandemic era, has become a symbol of self-preservation against a deadly viral infection. Asides literal masks, we also wear ‘symbolic masks’ to protect ourselves from emotional and psychological elements that we confront daily – financial secrets, relationship secrets, and the privacy of life and family.

Since the drumbeats of the 2023 election started, we have seen big “political masquerades“ coming out to declare their interests in the struggle for power and relevance. Across party lines, powerful politicians, likened to big masquerades, and their cohorts, are showcasing introductory and essential aspects of their election dances and using both old and novel gimmicks to make their interest in the presidency of Nigeria known. Some have visited the incumbent president to formally inform him of their ambitions; some are still consulting with stakeholders; some are waiting for the call of God and their people to declare their intentions publicly; while others have gone ahead to make their presidential ambitions public via the mass media.

So far, there are no surprises yet. Those who have declared or those rumoured to be on the verge of announcing their intentions to rule Nigeria are the same old political warhorses who, to a great extent, are known by Nigerians. We expect more of them to make their declarations in the coming days and weeks. This is part of the political process, and any Nigerian is free to aspire to become president and compete for the post through any political platform of his or her choice. In Nigeria, at least for now, only masquerades wearing the masks of the All Progressives Congress (APC) or the Peoples Democratic Party (PDP) are considered to have realistic chances of winning the presidential election. But these are early days, and a third force political platform may challenge this status quo.

It is about 12 months to the general elections for Nigerians to choose the leader of the most populous black nation on earth, at a time of significant political, social, and economic turbulence. Nigeria faces, on all sides, existential threats that will require a highly skilled, competent and charismatic leader to galvanise all the human and natural resources at our disposal to tackle the vast socio-economic challenges confronting us. Among these “masquerades“ declaring their interest, one will emerge as the leader. This underscores the importance of galvanising Nigerians with outstanding leadership and empathic qualities to step up to the arena to be counted. One must be in the race to win.

Nigerians often complain about the same old leaders taking political offices and doing nothing innovative to develop the country, but forget that it all starts with the calibre and quality of politicians coming out for the presidency. It is from that group that the president will emerge. Therefore, I implore all Nigerians to use this opportunity to encourage proven leaders with the proper knowledge and skills to come on board to compete for the presidency. Nigeria, now more than ever before, needs quality leadership at the highest level.

It is a positive for democracy that so many citizens are stepping forward to lead the nation, indicating increasing political participation. However, nothing yet distinguishes one aspirant from another in terms of either ideology or public policy postulation. For now, we are stuck at the level of personality cults, geopolitical interests, and the ethnic entitlement syndrome. Even where aspirants are from different party platforms, their utterances do not yet reflect the broad agenda of those parties. More disturbingly, there is nothing that indicates depth on national issues from any aspirant.

So far, not less than six “political masquerades“ have declared their interest from the two main political parties – APC (Asiwaju Bola Ahmed Tinubu, David Umahi, and Orji Uzor Kalu) and PDP (Abubakar Bukola Saraki, Anyim Pius Anyim, and Dele Momodu). There are other candidates with near unassailable profiles in the fringe parties. It is time Nigerians started examining all of them through the prism of our complexities. Let us look at ‘the stuff they are made of’, those who gave them the masquerade and are in their company. We want to know what they are offering and what vision they are selling to Nigerians? How will they solve the multiplicity of Nigerian problems? We should not focus on inanities like what their religion is, what geopolitical zone they represent and what financial muscle they have.

Let the presidential “masquerades” come forth and canvas ideas and proffer solutions. Twelve months is enough time to know which of these political masquerades we want to take seriously or ignore. For the political masquerades that have declared their intentions, let us now hear their ideas. However, I acknowledge by trend analysis, that it is not the candidate with the most brilliant take on issues who will win, as the factors that determine who wins elections in Nigeria do not have much to do with sound policy ideas.

Unlike the previous election period, Nigeria is in a precarious situation; inexperience, vacuity, incompetence, the lack of proven service record, and absence of ideas to drive positive change among candidates will not be overlooked nor tolerated by Nigerians. Between June and August this year, the parties will present masquerades dressed in party attires. Our options will be limited to the masquerades presented to the electorate by the parties. To a certain degree, the party will shield the person behind the masquerade from Nigerians. We may be denied the opportunity of knowing what the one behind the masquerade said, as distinct from what the masquerade said.

The party-political machineries will take over immediately after the primaries, and all forms of spin doctors and election pundits will be engaged to convince the electorate of the rightfulness of the candidates. These powerful party campaign machineries will set out to use unfounded marketing tools, lies, half-truths, innuendoes, and propaganda to convince or confuse the electorate to vote for their candidate, even though they may have apparent shortcomings that make them unfit for the presidency. That is why when a president is elected, there are lots of things the electorate assumes s/he said or stood for or championed that turns out completely different from what the president does. Maybe it is still too early in the day, but I strongly feel that now is the time to engage with the masquerades and try to figure out the men behind the masks.

Our current crisis correlates with the electoral decisions and leadership choices we collectively made in the past. All elections have serious consequences. These underscore the importance of the careful consideration of the masquerades to eliminate the wrong candidates from the presidential race and have people with clarity of vision, proven leadership skills and good knowledge of the Nigerian context vis-a-vis the complexity of our religious, social, and ethnic makeup.

The only actual path forward is in using the 2023 election to usher in good leadership with demonstrable capacity to implement a pan-Nigeria agenda. Nigeria is in dire need of positive change. But who will drive this change? More of the same masquerades — Nigeria’s political elite. Unpleasant and scary as today’s Nigeria has become, our present reality should force us to question our prior assumptions about leadership selection. We should not allow primordial sentiments to becloud our judgement in seeking out and choosing a competent and visionary leader as president.

We have a choice now facing all Nigerians: We can make use of the next 12 months to put our acts together and engage in positive politicking to seek out good leaders for the 2023 general elections, or we can decide to play politics as usual without seriously considering post-election governance. Elections are a means to an end and not an end in themselves. If we do not elect good leaders, we will bear the brunt of the consequences – debilitating poverty, insecurity, unemployment, and constant internal crises and calls for secession. We are at the beginning of electing the president of Nigeria. We must get it right at this stage to have a realistic chance of electing a president who will make a difference. There is no doubt that the flawed election process in Nigeria is probably the cause of failed governance and leadership in Nigeria. I argue that we must reassess that process and start on time to get it right, if we must make meaningful progress in getting the right president.

The president derives his power from the people who elect him to lead them in a democracy. So, the president rises and falls with the people. A government by the people, as represented by a voted president, contextually assumes responsibility for the success or failure of the people. Democracy affords the people an opportunity to hold the president accountable through periodic elections. 2023 is another opportunity for the people to get it right.

Nigerians must carefully choose a leader with incredible qualities to take our country to a new frontier. What are these qualities we require of the next president? The aspirant must have a clear vision of where he wants to take Nigeria to in terms of development and how he will achieve this given our current resource realities. The aspirant must have proven skills and competencies in management and leadership. He must have empathy for the plight of many Nigerians and must have a burning desire to work to ameliorate their sufferings. On the basis of association or ideology, the aspirant must be above board – not an ethnic or religious chauvinist, supporter of secessionist activities, or terrorism.

Furthermore, the aspirant must love Nigeria and have a proven record of links built across the country. He must understand the economy, especially productivity. He must have the strength, ability, knowledge, and intellectual capacity to carry the burden of Nigeria, manage our diversity and deliver the dividends of good governance to all Nigeria, not just a section of Nigeria or the elites. Ultimately, the aspirant must demonstrate a clear understanding of how to tackle insecurity, poverty, unemployment, and a shambolic education system.

After all is said, 2022 offers all Nigerians the opportunity to chose the kind of country we want by the quality of the president we vote for in the 2023 general elections. As political masquerades have started declaring their intentions to contest for the presidency of Nigeria, now is the time to engage them to find out the person behind the masquerade.

Dakuku Peterside is a policy and leadership expert.

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Federation Account Garners N7trn Revenue in Six Months – RMAFC

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By Tony Obiechina, Abuja

Revenue Mobilization Allocation and Fiscal Commission (RMAFC) yesterday disclosed that a total sum of N7.31 trillion accrued to the Federation Account between July and Dec. 2023.This was captured in the monthly report to the Federation Account Allocation Committee (FAAC) by the Central Bank of Nigeria (CBN) under the caption “CBN Federation Account Component Statement”.

This amount is higher than the sum of N5.
244 trillion realised in the first half of year 2023, according to a statement signed by the RMAFC Chairman, Mr. Mohammed Bello Shehu and made available to the media in Abuja.The chairman disclosed that out of the total gross revenue inflows into the Federation Account, the sum of N1,692 trillion was transferred to the Exchange Gain Differential Account, thus leaving a balance of N5.
475 billion for distribution.He added that from the amount stated above, the sum of N3.26 trillion was deducted as approved statutory deductions by the OAGF, leaving a net balance of N2.2 trillion for distribution to the three tiers of government within the period under review.The chairman explained that out of the N3.267 trillion statutory deduction indicated above, N2.251 trillion was transferred to the Non-Oil Excess Account as savings, thus leaving a net statutory deduction of N1.016 trillion with further augmentations for sharing among the three tiers of government received from some “reserve accounts.”The statement added that within the period under review, the net sum of N4 trillion was shared with the three tiers of government, an amount higher than the total sum of N3.06 trillion.In terms of percentages, the chairman stressed that “the statutory deduction in the second half of the year constituted 44.12 percent of the total gross inflow into the Federation Account in the six-month period, which was higher than the first half deductions of 42.31 percent (inclusive of transfer to the Non-Oil Excess Account).”On remittances by Revenue Generating Agencies (RGAs), the RMAFC chairman disclosed that out of the total gross revenue inflows into the Federation Account, the Nigerian National Petroleum Company Limited (NNPCL) remitted N874 64 billion in the second half of the year as against the zero-remittance made in the first half of the year.Similarly, the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) remitted the sum of N1.56 trillion while the Federal Inland Revenue Service (FIRS) remitted N3.65 trillion

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PDP NEC Meeting Ends with Damagum as Acting Chairman

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By Johnson Eyiangho, Abuja

Peoples Democratic Party (PDP) 98th National Executive Committee (NEC) meeting yesterday ended without a word on the much talked-about replacement of the party’s Acting National Chairman, Amb. Iliya Damagum, an indication that he will continue to function in that position.

In an interview with newsmen after the meeting, the PDP spokesman, Hon.
Debo Ologunagba said for now, the party is focusing on issues of reconciliation and its stability, adding that the issue of the Acting National Chairmanship had been “deferred to the next NEC meeting, which is tentatively scheduled for August 15, 2024″.
Also speaking, the Governor of Bauchi State and Chairman of the PDP Governors’ Forum, Bala Mohammed said the party is united as there was no dissension and rancour.
In his words, “It was planned that the party would have an implosion. PDP is more than that. We have gone beyond all that. This party is united, guided by experience and constitutionality.”There were a lot of permutations and mischievous thinking outside there. But we looked at all the issues and we worked along our guidelines and constitution.“There is no problem or dissension and problem among members,” Mohammed said.The well attended NEC meeting was held amid tight security as police and personnel of the Department of State Services (DSS) condoned off roads leading to the PDP Secretariat, Abuja and diverted vehicular traffic.It will be recalled that the PDP National Working Committee (NWC) had passed a vote of confidence on Damagum during its meeting on Tuesday.A communique issued at the end of the three hours meeting commended all the organs of the party for their collective resilience, steadfastness and commitment towards the unity, stability and sustenance the party despite daunting challenges.The communique commended the efforts of the NWC in its effort towards rebranding the party and urged all party members to continue to work together for the success of the PDP for the benefit of Nigerians and sustenance of democracy in our country.

The document which was read by the PDP National Publicity Secretary, Ologunagba, however, expressed concern over what it described as the ill-implemented policies of the APC administration, leading to worsening insecurity, harrowing economic hardship, soaring unemployment rate, high cost of food and other necessities of life with pervading misery and despondency across the country.”NEC expresses serious apprehension over the spate of acts of terrorism and violence including the escalated cases of mindless killings, mass abduction of innocent Nigerians and marauding of communities in various parts of the country.”NEC condemns the insensitivity, nonchalance, incompetence and arrogance in failure of the APC administration which continues to conduct itself in a manner that shows that it has no iota of interest or commitment towards the wellbeing of Nigerians.”NEC also condemns the creeping totalitarianism and tendencies towards a One-Party State which is inimical to the peace, stability and corporate existence of our nation as well as the development of Democracy and good governance in the country,” it said.The communique demanded that President Bola Tinubu should urgently convene a special National Security Council meeting to proffer a holistic solution and measures to curb the disturbing insecurity with its attendant negative consequences on the nation.It also called on the president to “immediately rejig his Economic Team to bring in persons of proven integrity and competence without bias and vested interest to assist in repositioning the economy.”NEC further demands that the Federal Government should review all policies and programmes which are stifling the economy with suffocating effect on the lives of citizens; including the increase in price of fuel without cushioning measures, hike in electricity tariff, increased taxation and implementation of adverse fiscal policies,” the communique added.Present at the meeting were FCT Minister Nyesom Wike, former Vice President Atiku Abubakar and many other past and presently elected members of the PDP.

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CBN Reduces Banks’ Lending Rate to 50 Percent

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By Tony Obiechina, Abuja

Central Bank of Nigeria (CBN) yesterday announced a review of the loan-to-deposit ratio (LDR) for banks from 65 percent to 50 percent to align with the current monetary tightening.

LDR is used to assess a bank’s liquidity by comparing its total loans to its total deposits.

An increase in the loan-to-deposit ratio allows banks to expand their credits to businesses and individuals, however, a decline in LDR reduces their ability to loan customers from depositors’ funds.

CBN disclosed the increase in a circular titled “Re: Regulatory Measures to Improve Lending to the Sector of the Nigerian Economy”, signed by Adetona Adedeji, CBN Acting Director, Banking Supervision Department.

“Following a shift in the b  ank’s policy stance towards a more contractionary approach, it is imperative to review the loan-to-deposit ratio (LDR) policy to align with the current monetary tightening by the CBN,” the apex bank said.

“Accordingly, the CBN has decided to reduce the LDR by 15 percentage points to 50%, in a similar proportion to the increase in the CRR rate for banks.

“All DMBs are required to maintain this level and are further advised that average daily figures shall continue to be applied to assess compliance.”At the last monetary policy committee (MPC) meeting on March 26, the CBN retained the CRR at 45 percent and the liquidity rate at 30 percent.

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