Facebook’s lucky friends?

Some investors are accusing the company and its bankers of playing the public for suckers, sharing pessimistic revenue projections with a few insiders but not average investors before its IPO. 

Facebook has made a habit of advancing its interests at the expense of its customers, whether by weakening its privacy policy, tracking users’ movements around the Web or radically reconfiguring the way information is displayed on the site’s pages. So it probably shouldn’t surprise anyone that while the company’s initial stock offering was a boon to the company and insiders, it’s been a costly disappointment for the general public. Now, some investors are accusing the company and its bankers of playing the public for suckers, sharing pessimistic revenue projections with a few insiders but not average investors. It’s an accusation that has drawn the attention of Congress and federal regulators, and it’s serious enough to merit a thorough investigation.

It’s not entirely clear why Facebook went public. Investors and employees who owned a share of the company’s equity could sell it on private markets, and the company’s prospectus stated that it had no pressing need for the funds. The nearly $7 billion it raised will be socked away along with almost $4 billion in cash reserves. The more obvious winners in the IPO were the venture capital firms and other early investors who cashed out a portion of their holdings; they collected more than $9 billion.

But early buyers of the new stock paid up to $42 per share, only to see the value plummet before recovering slightly on Wednesday. Reports soon emerged that one or more of the banks underwriting the IPO had lowered their estimates of Facebook’s expected earnings, and had shared these warnings with some of their clients. The implication is that some large investors knew enough to stay away from the IPO, or to sell their holdings quickly to buyers who weren’t privy to the latest analysis.

Facebook and Morgan Stanley, the lead underwriter of the IPO, deny that they did anything wrong or even unusual. And although the underwriters’ lower estimates weren’t made available to the public, the financial media caught wind of the warnings and reported on them before the stock went on sale. In fact, much of the coverage leading up to the IPO was negative, with plenty of skepticism expressed about the company’s revenues ever being large enough to justify the stock’s price.

There is a difference, however, between the information that gets bruited about in the media and what companies and their underwriters officially disclose. If insiders disclose information that’s significant enough to influence investors, securities law requires that they share it with everyone, not just a favored few. That’s why regulators should find out exactly what Facebook said to its underwriters that led to their revised estimates, and whether those banks revealed information to a few that should have been disclosed to all.

Ultimately, Facebook’s share price will rise or fall with the company’s ability to mine its enormous user base for significantly more revenue than it does today. In the meantime, though, regulators should make sure that those who choose to bet on the company have the same information as everyone else at the table.

Los Angeles Times

OAU releases post-UTME results

IN less than four hours after the conduct of its post-Unified Tertiary Matriculation Examinations (UTME) screening exercise, the authorities of the Obafemi Awolowo University (OAU), Ile-Ife, have released the results of all the candidates who participated in the exercise.

A release by the public relations officer of the university, Abiodun Olarewaju, said out of 35,823 candidates who took part in the screening exercise, which was based on 400 marks, only 7,663 candidates scored above 200, of which 51 candidates scored above 300.

According to the spokesman, three candidates, Ogunlade Stephen Tayo (UME form no: 25457115HI /32882); Kolapo Ismail Abidemi (UME form no: 26328328HJ/15158) and Ayansola Oluwaseun Joshua (UME form no: 2604698BH/13940), exhibited exceptional academic brilliance in the screening exercise, by scoring 337, 335 and 332 respectively.

While Ogunlade wanted to study Biochemistry, Kolapo went for Medicine and Surgery and Ayansola opted to read Law.

Olarewaju, therefore, advised all those who sat for the exercise to start checking their results.

Leadership crisis tears NLC apart

Acting General Secretary of the Congress, Mr. Owei Lakemfa, has been sent packing as the leadership crisis in the Nigerian Labour Congress assumed a new dimension on Sunday.

Our correspondent learnt that Mr. Chris Uyot was also appointed on an acting capacity.

Uyot, who is expected to take over in June, is the current head of Media at the headquarters of the NLC in Abuja.

It was learnt that Lakemfa ran into trouble with entrenched interest in the Nigeria Labour Movement because of his hard position on the issue of the total removal of the fuel subsidy in the country.

He was said to be too rigid and even disobedient to respected former leaders of the NLC contacted by the Presidency to intervene in the anti-subsidy removal demonstration

The source said two unsuceesful attempts were made in January and March to remove him.

It was further learnt that Lakemfa would have been removed from office in May but for the killing former private secretary to the Edo State Governor, Mr. Oyerinde Olaitan, who was billed to resume as the General Secretary of the Congress.

Oyerinde, a Deputy General Secretary of the NLC, was on sabbatical to Edo State.

It was learnt that several national officials of the NLC were of the view that Lakemka should be removed.

Lakemfa became the acting secretary of the NLC following the removal of Mr. John Odah.

Odah, who leads the integrity Group of Labour Unions, is challenging his removal in court, describing it as a violation as of the rights of employees which should be sacred to the NLC.

The crisis however assumed a fresh dimension when Lakemfa raised the alarm on May 13  that top functionaries of the Federal Government were out to divide the labour movement through the establishment of a parallel labour centre.

He said those behind the planned new labour centre billed for registration in July, were also those behind the anti-labour law in the National Assembly, allegedly meant to whittle down the influence of the NLC.

Although the Minister of Labour and  Productivity, Chief Emeka Wogu, denied knowledge of such a move, the Integrity Group issued a statement in which  the group stared that the NLC had become unworthy of association and that a new labour centre was inevitable.

When our correspondent attempted to reach the NLC President, Abdulwahed Omar, on the telephone, he did not pick the call.

Omar also did not respond to a text message sent to him to confirm if Lakemfa had been removed or not.

Also, efforts to reach Lakemfa and Uyot for their comments were fruitless as the calls placed to their telephones indicated that they were switched off.

Nigeria Labour Congress on Saturday restated its opposition to the increase in electricity tariff with effect from June 1.

The NLC, in a statement at the end of its National Administrative Council meeting, also called on labour unions across the country to be resolute in the demand for a comprehensive restructuring of the downstream oil sector through construction of refineries.

The statement read in part, “It (NLC) also resolved to oppose any increase in energy tariff without improved power supply,  while it calls on all affiliate unions  to continue the demand for a holistic restructuring of the downstream petroleum sector through  building of the new refineries and self sufficiency in products supply.

“The NLC salutes Mr. President’s directive to the Attorney-General of the Federation to prosecute all those found culpable in the recent report of the House of Representatives on the probe of the oil subsidy regime in the country.”

“The assurance by Mr. President that there will be no sacred cows in the investigation and prosecution of the corruption in the downstream sector of the oil industry is laudable and deserves commendation.

“The Nigeria labour movement and indeed all Nigerians, look forward to a thorough and diligent prosecution by the Attorney-General and the security agencies in order to disabuse the minds of the watching public and to ensure that the process is not a hollow ritual.

“We  urge  the President to ignore advisers that are determined to set him on an unnecessary collision course with the people over policies that undermine prosperity and worsen the country’s poverty level.

“Any attempt to contemplate fuel price increase when those who looted the subsidy fund walk around as untouchables will be contemptuous of the people and an invitation to anarchy.”

NLC president, Alhaji Abdulwahed Omar, who signed the statement also said contrary to reports, the congress remains indivisible, stressing that issues  involving the Non-Academic Union and National Union of Hotels and Personal Services Workers were not beyond internal resolution.

He added that the congress did not take any decision to engage in a media war with NASU and NUHPDW, adding though that the reaction of the General Secretary of NASU, Mr. Peters Adeyemi, and the President of NUHPSW were regrettable.

Omar said, “Congress noted that at no time was there a decision to engage any of    the affiliate unions  of the NLC,  including great unions like NASU and (NUHPSW) in unnecessary media exchanges and war of attrition over issues that are purely internal and clearly surmountable.

Tinubu attacks Jonathan, PDP over Salami’s ordeal

(ACN) leader Asiwaju Bola Ahmed Tinubu

 

Your action in bad faith, NBA tells President Action Congress of Nigeria (ACN) leader Asiwaju Bola Ahmed Tinubu has broken his silence on Appeal Court President Justice Isa Ayo Salami’s ordeal.

To him, President Goodluck Jonathan’s “tardiness in” acceding to the National Judicial Council’s (NJC’s) request for Justice Salami’s reinstatement is a brutal attack on the golden principles of the rule of law and just existence in a democratic society. 

Tinubu, in a statement at the weekend,  said the President’s action has confirmed the popular belief that Justice Salami’s case is more political than legal. He described the president’s action as a coup against the rule of law.

In the former Lagos State Governor’s view, Attorney General Mohammed Bello Adoke’s  argument that President Jonathan withheld his consent on the recommendation (that Justice Salami be restored to his seat) on the claim that it was sub-judice is not right.

The former Governor of Lagos State observed that the purported cases relied on by the Attorney-General were those filed by failed candidates of the ruling People’s Democratic Party (PDP).

To him, rather than persecuting Justice Salami, whose perceived sin was his adherence to legal principles in deciding some cases that affected the ruling PDP, the AGF should be placed in the dock for subverting the law.

Tinubu, citing the eminent view of the former Chief Justice of Nigeria (CJN), Justice Mohammed Uwais, argued that the president lacks the power to subject the decision of the NJC to any form of review because – going  by Justice Uwais’ argument -  lacked discretional powers on the Justice Salami issue. 

He warned that should the Presidency be allowed to have its way, it will create a dangerous precedent that will effectively hobble the judiciary and prevent other judges from dispensing justice in accordance with the dictates of the law.

The ACN National Leader urged all jurists, all lawyers, the civil society and, particularly, the media, to stand for justice and demand Justice Salami’s reinstatement. He argued that the  violation of the rule of law and constitutional checks and balances has to stop now before it gathers a momentum that brings irreparable harm.  

Said Tinubu: “For reasons only they know, the Federal Government seems eager to provoke crisis where there would be none, if only they obeyed the rule of law. Last year, the Nigeria Judicial Council (NJC) suspended Court of Appeal President Justice Salami for a non-existent offence. 

“He was suspended for standing firm against the perversion of Justice and the abuse of power. At that time, the presidency quickly endorsed the NJC action. Earlier this month, the NJC rediscovered its conscience by reinstating the honourable jurist to his position. This time, the Presidency balked as if it had lost its faculty to speak. 

“Finally, the Attorney General said the Presidency would not ‘reinstate’ Salami because of pending cases against Salami. Not coincidentally, these cases were filed by losing PDP governorship candidates.

“Now, Nigerians know this is part of a larger script to end the career of a courageous judge and amputate justice and subvert the rule of law. Here, the Presidency and PDP are culprits. The facts favour Justice

Salami, but those who hold power in trust for millions of Nigeria will not let justice prevail. 

“The NJC and the consensus neutral opinion of the country’s most eminent jurists and legal scholars agree that the law points to only one proper course: Salami’s reinstatement. These people hold no partisan political brief. Their care is to promote legality.

“On the other side stand only the PDP and their legal mercenaries. I ask: who is behaving more dangerously partisan in this matter, the ruling party that ignores the great weight of considered legal opinion or the opposition that is willing to live by and under the law? I rest my case and say no more on this specific point. 

“We are witnessing something historic. The federal executive has launched a compound coup against the rule of law and judicial integrity. The first is the subtle assumption of a power the Presidency does not properly wield. 

“The Attorney General stated that the Presidency would not reinstate Salami until the pending cases were fully litigated. This is empty bluster, the discharge of cannon minus the cannonball. 

“Under the law of the land, the Presidency has no substantive function in the matter. Salami’s reinstatement is not dependent on Presidency. His reinstatement begins and ends with the NJC. Former Chief Justice of Nigeria Mohammed Uwais, in a publicized television interview, was unambiguous when he said, ‘Actually from the legal point of view, the suspension of a judge, the power to do so is given to the National Judicial Council, not the President…So, really to me, I don’t see any reason; once the NJC decides he should be recalled, and then he should be recalled by the NJC, not the President, technically”. 

—”His point was clear and straight forward-President Jonathan’s business is that of being notified of the NJC’s decision and not of approving what has already been formally decided. Yet, we are witnessing a flagrant violation of the rule of law in which the right of an individual is being crudely taken away in broad daylight. 

“The authority and eminent position of Justice Mohammed Uwais on this matter carries more weight than the shallow political calculations of the President and his henchmen. The NJC suspended Salami. Now it has reinstated him. 

“The only role the presidency can properly play in this matter is as a deliverer of messages. That is what our constitution provides. Yet, this insecure yet vain presidency cannot see itself as anything but the controller of all things.  

“Thus, the Attorney General huffs that Justice Salami cannot resume his duties when the NJC has already legally reinstated him. At this point, it is not Salami but the Attorney General who should be placed in the dock for taking an action that he knows is blatantly improper.  

“The top lawyer of the federation has proven himself to be a legal gypsy whose legal opinion travels in whatever direction the strongest political wind blows. 

“The Federal Government has transformed itself from subject to the constitution into a bully intent on intimidating a fine jurist from serving the nation, thus depriving Nigerians of all stripes and political hues of their right to the neutral and objective application of the rule of law. 

“Even under the years of brutal military dictatorship, laws were being obeyed and the judiciary was not hamstrung. At least, those of us that were in detention got some reprieve by the order of the courts. 

“This brings us to the second coup. This goes directly to the independence of the courts. Justice Salami is in this predicament not because he did anything legally improper. He is in the soup because his objective, high quality legal work was seen as a grievous political sin by those in power. 

“Justice Salami is in trouble because he served his conscience and refused to be part of the gang-up to perverse justice. He had the temerity to decide cases according to applicable law and fact and this was unacceptable to the ruling party. He let verdicts fall where legality led them. This means some verdicts went against the ruling party.   This was enough to make them conspire against him. Now, the PDP has developed a script to intimidate other judges. 

“With the Attorney General’s unacceptable and unfortunate statement, the curtain has been pulled back. We had hoped this would be resolved with dignity in favour of the rule of law, that we could rest assured the President would safeguard the legal rights of all Nigerians while still being an energetic and tough political opponent to some of us. 

“Sadly, this was not to be. For the Attorney General to spurt as he did, means he did so at the insistence of his boss. Here, Nigerians are confronted with a frightening trend in which our democracy and country are in danger. 

“An elected President who himself has been a beneficiary of the protection of the legal protection under the doctrine of necessity that paved his way to the presidency, now leads a power cabal that is disrobing Nigerians of their rights and denying them  justice. 

“This is a direct assault against the judiciary. Seeing the treatment so roughly handled to a senior Justice like Salami, no other judge will dare act independently and according to the law.  They will seek direction from the executive and then concoct flimsy legal arguments to defend what they have been ordered to do. 

“They will come to use the color of law to undermine justice. Herein lies the danger to us all. This government has shown itself to be greedy.  The more it eats, the hungrier it gets.  The more power it has, the more it wants. Today, it seeks to devour Salami because of his electoral rulings. 

“Tomorrow it will be a contract you signed, the land your father purchased, the business your uncle built or the newspaper that published an unfavourable news report.  If the law courts are no longer able to honestly adjudicate the law but function to serve as the sharp knife of the imperial court in Abuja, then we no longer operate under a constitutional democracy.  

“We have become a despotic kingdom where the arbitrary fiat and command of the monarch carry the force of law and the constitution is but a flimsy sheet of paper.  We have lived this scenario before and it did us no good. We should not walk this trail of tears again. 

“Again, this matter goes far beyond political partisanship.  It will define the very meaning of governance in Nigeria, either for good or bad. It is time to select the side that you are on. Either you are for right or for power. You cannot be both because the improper actions of government have precluded such a combination. 

“Therefore, it is time that all jurists, all lawyers and civil society, particularly the media stand for justice and demand the reinstatement of Justice Salami. The violation of the rule of law and constitutional checks and balances has to stop now before it gathers a momentum that brings irreparable harm.”

“By standing with Justice Salami today, we also take a stand for ourselves and the promise of a better future for the nation that we love,” Tinubu said.

Yekini’s N60m waste, a rumour— Lawyer

THE last has not been heard about the controversy surrounding the death of late Super Eagles goal king, Rashidi Yekini as his lawyer, Mohammed Olanrewaju Jubri has debunked the claims that his late client blew N60 million in 60 days.

Jubril said the story was a total false and not true at all and advised that thorough investigation be made by journalists before such publications are made. He claimed that no bank in Nigeria can reveal the account details of their clients to any third party unless a law court requests for it when dealing with Will cases.

He also warned Yekini’s Sister, Rafiat to keep a lid her utterances as failure to caution her utterances may heighten the tension and controversies his client’s family is already experiencing since the demise of their son.

“I read a publication in a national daily on Friday, May 25th, 2012 saying Rashidi Yekini blew N60 million in 60 days. I don’t know the source of that information and I certainly know that no bank will descend so low to give the details of their customer’s relationship with them.

“I want to state here that I know too well that that is not true, no bank will give the details of its customer’s transactions”, Jubril disclosed.

“I also read some reports claiming Rashidi Yekini’s younger sister, Rafiat claiming that my client was sick and that is why they took him away from his residence in Ibadan and they rushed him to the hospital where Yekini was pronounced dead. I don’t know whether she (Rafiat) would be able to provide the details of the first hospital they took him (Rashidi Yekini) to and what was diagnosed and what treatment was meted on him.

“To me all these things are speculations and they are just putting the whole facts upside down. I just don’t want to cause more trouble for them and I am just allowing some of these things to die down so that we can finish the 40 Days Fidau rites. But if she wants to continue going to the press all the time, I don’t mind where this matter will take everybody to.

Yekini’s lawyer also faulted the report that Rafiat gave in the interview when it was said that they sought the assistance of the former Commissioner of Police in Oyo State, Baba Adisa Bolanta to assist them in Yekini’s issue before the striker passed away.

“That is not the story. Rashidi called on me when they tried two times to abduct him. Then he sought Police protection and I did not have a choice than to personally drive him down to the Police Commissioner office where they (the family) too were invited. It was the Commissioner of Police then (Bolanta) that invited them to his office and warned them not to take Rashidi Yekini out of Ibadan against his

FLYING EAGLES lose again but mathematically alive

NIGERIA’s Flying Eagles lost their second game in the Cape Town International Challenge Sunday when they fell by the odd goal to Argentina, but they could still sneak into the semi-finals of this competition.

On Tuesday, they would need to beat hosts South Africa by at least 2-0 and hope that Argentina do them a big favour by beating Ghana same time.

Argentina lead the group on six points from two matches, while South Africa and Ghana both have three points each.

Nigeria are without a point.

“It wasn’t a bad game, but I expected my players to have lifted their game after our loss to Ghana, rather they panicked and were mostly in a hurry,” said coach John Obuh

“All the same, this has given me a better assessment of the team.”

The Flying Eagles are the defending champions of this invitational tournament having won the inaugural edition two years ago.

However, they have found the going rather tough this time around after they lost 3-2 in their opening Group A match against arch-rivals Ghana and then fell Sunday to five-time world champions Argentina.

On Sunday at the 2010 World Cup stadium, the Cape Town Stadium, they barely held out against the South Americans until the 42nd minute before Franco Fragapane gave them the lead when he exploited an opening in the Nigerian defence to slot home past an exposed goalkeeper Samuel Okani.

The Flying Eagles failed to create any clear-cut chance at goal and were even forced to pull out centre-forward Alhaji Gero, who was largely ineffective, by the 37th minute for Sikiru Alimi.

Kaduna United central defender Ikechukwu Okorie was the pillar of the Flying Eagles back four and he and later Kingsley Patrick had to head away goal-bound shots on the goal line.

Argentina, on the other hand, enjoyed the ball possession and had at least three chances they have put away to underline their superiority.

The game was marred by countless stoppages as both teams fought out a physical combat in which at least three Argentina players were booked.

2014 WORLD CUP QUALIFIER: VICTOR MOSES, first to hit Calabar

 

Victor Moses

WIGAN Athletic’s Victor Moses, has become the first foreign based player to hit the Super Eagles’ camp ahead of a busy schedule of qualifiers for the Nations Cup and the 2014 World Cup.

Moses breezed into the team’s temporary camp at Excel Oriental in Lagos, on time for the team’s departure for Calabar, where it will prosecute its home games against Namibia and Rwanda respectively. When asked about his next point of call in club football, as a result of the rash of interest on him by various Premier League clubs, Moses merely smiled away the question and concentrated on his breakfast.

Meanwhile, newly appointed Camp Commandant of the national team, Lt Col Rabiu Yandoto, has promised Nigerians that he would carry out his duties to the best of his abilities by ensuring excellent discipline in the team’s camp.

Yandoto, whose first official assignment was the trip to Peru, said he has made observations about the workings of the team and has been able to study the philosophy of Head Coach Stephen Keshi, and is certain that discipline under him will not be compromised.

Eagles’ Media Officer, Ben Alaiya quotes Yandoto as saying “At all times, I will liaise with the Head Coach and all other necessary functionaries of the national team, to ensure that we up the level of discipline in the national camp so as to be able to achieve the result we want to in the team”, he said.

Chelsea To Give Di Matteo 1 Year Deal, Drogba Tips Torres To Shine

Chelsea owner, Roman Abramovich, is set to hand Roberto Di Matteo a year contract as boss after remaining unconvinced by the Italian’s managerial credentials, according to The Times.

Since his appointment on an interim basis following the sack of Andre Villas-Boas in March, the former West Brom coach has rejuvenated the Blues, leading them to victories in the finals of both the FA Cup and the Champions League.

While Abramovich does not view Di Matteo as a top class manager, he has accepted that the 41-year-old deserves a further opportunity at Stamford Bridge after his remarkable achievements this season.

However, any decision is unlikely to be reached until next week, meaning the former Blues midfielder will depart for his pre-season holiday with his future still undecided. The ex-MK Dons boss is believed to be open to the prospect of a 12-month deal though, having only forced his way into consideration thanks to his Champions League success.

Although the Italian has the backing of the club’s squad and fans, their owner still retains hope of luring former Barcelona boss, Pep Guardiola, to west London, following the Spaniard’s sabbatical from the game which begins this summer.

Meanwhile, Didier Drogba maintains next season will see the best of Fernando Torres at Chelsea as the Ivory Coast striker prepares for life after Stamford Bridge.

The 34-year-old announced he was leaving the club which he helped win the Champions League in Munich to bring the curtain down on a trophy-laden spell in west London.

Special court for election violence

To tackle the problems of violence before, during and after elections in the country, the Federal Government on Wednesday announced that it will soon establish a Special Election Tribunal that will ensure that those involved in such activities are speedily brought to justice.

Labaran Maku, the Minister of Information announced this in Abuja after what was unarguably the longest meeting of Federal Executive Council, FEC early this evening.

The decision to establish the Tribunal, he said was based on the recommendations contained in the white paper of committee headed by the Minister of Lands and Housing, Mrs. Ama Pepple on the report of the Sheik Ahmed Lemu Committee set up to investigate the violence that followed the 2011 general elections in some parts of the country.

Maku added that the white paper contained extensive recommendations, cutting across the security services, behaviour of security men during elections and other issues which are aimed at preventing the kind of violence witnessed after the 2011 general elections in the future.

He added that the establishment of the Tribunal, which is one of the recommendations contained in the report will ensure that people involved in electoral violence are brought to justice and speedily too. He also said another recommendation contained in the white paper approved by government is the proscription of all specialised youths groups set up by politicians who act as thugs during elections.

The Minister said a look at the circumstances of violence that followed the 2011 elections revealed that office seekers keep specialised youth groups that run like militias during election campaigns. He said the youth groups are most times involved in the escalation of electoral violence or create other insecurity problems for the country. Maku said the government has therefore directed the Attorney General of the Federation and the Inspector General of Police to proscribe all youth groups that are set up specifically to be used as thugs during elections.

The minister of Information also said government accepted the Committee’s recommendations that there should be intensive civic education by the Independent National Electoral Commission, INEC on democracy, the content of the electoral act, the responsibility of the citizens and the right conduct that will promote real civil democracy.

Mrs. Pepple added that the Lemu Committee recommended that the issue of job creation and youth development should be addressed. This, she said the Federal Government is doing through various youth programmes.She also said government has agreed that investigations of those accused of being involved in past acts of violence during elections should continue to discourage the culture of impunity. She added that government has also accepted recommendation that a mobile police barrack should be established in areas between Kafanchan and Zonkwa in Kaduna State which have been found to be prone to violence.

Government, she added has also taken decision to control proliferation of small arms in the country.   Pepple added that valuation of losses sustained by individuals and organisations across the states involved in violence during the last election is ongoing and at the end of it, government will determine the kind of assistance it will render to those involved.Meanwhile, the President has appointed Alhaji Inuwa Abukadir who was sworn in just before the beginning of FEC meeting today as the minister of Youth Development. Alhaji Bolaji Abdullahi is now the Minister of Sports.           

More fatherly than 2face

Desmond Hatchett

If anyone has ever thought that 2face is unique in terms of his ‘fathering’ skills, then they have not looked well enough and so have seen nothing yet.

The latest “procreation” story travelling fast on the Internet is about a 33-year old American, who has perfected his act in baby making.

Here is how he has been reported, “At just 33, Desmond Hatchett has 30 children from 11 different women. Nine of those children were born in the last three years. Desmond’s oldest child is 14, while the youngest is just a few months old. His story/situation came into limelight after he went to court this week asking for a break on child support.”

Kongi is a spirit

It is hard to dispute that Prof. Wole Soyinka’s Keynote Address at the last South-South Economic Summit was the high point of that gathering. I was in the audience. The end of that speech, probably one of the finest oratorical excursions I have ever witnessed, produced an ejaculation of awe in admiration as I turned to the corporate chieftain sitting by me. Kongi is a spirit, I muttered, elevating the essence of his remarks.

That high tribute acknowledging the profundity of thought in the tour de force of the Nigerian condition by Soyinka as he reviewed the state of our nation was also at once a celebration of a rare personage in patriotism and capacity to take on complex matters, speak truth to power, and communicate it in prose that makes the object of his commentary, if they have the capacity of understanding, to feel naked. On that day in Asaba those who had ears felt the shame of a nation that was in all but garb a failed enterprise in which people who were given the privilege to shape history had all but wasted their life’s journey, damaged the future of their children and set fire to the possibilities of their grandchildren, even if they still think that bank accounts built up in the abuse of the common good will assure the tomorrow of their direct offspring.

Why does the enigma of Soyinka continue to puzzle? In my view, because he has defeated himself and is comfortable with truth and speaking it to those who have become used to being lied to. If his speech did something for me, it was on how to hold many of us to account for the ruining of something so beautiful, the dream of Nigeria.

Mostly, he held the feet of politicians to the fire. Rightfully so, but it is important to show that more are guilty for the catastrophe of what became of the dream of my youth, a great new nation. Surely much blame goes to politicians in fatigues and flowing robes, but many more need to account. Our blame is total in this collapse of culture that has immobilised the sense of service, with literal gang-raping of the citizenry into a state of stupor that restrains them from asking how come the misery index, measured by objective criteria such as unemployment, attainment of the Millennium Development Goals and placement of Nigeria in the United Nations Development Programme Human Development Index remains a show of shame. Even as few of our people boast of bank account sizes that make the wealthiest in countries scoring high on these inculcators could never imagine having, not much seems to have happened here. We continue to scramble for wealth without work in a manner that would make India’s Mahatma Ghandi shake his head in his grave.

The Soyinka speech in Asaba, obviously because you can not say all that needs to be said in one speech, did not highlight how much our men of commerce have helped cripple Nigeria, just as our intellectuals in abdicating their moral authority have added to the challenge of now. In the same vein, the youth cannot be spared for the loss of idealism that marked our younger days and the bureaucracy cannot escape the charge that goal displacement and unbridled corruption as their ways, have left us so far from where we could be. The pain is worsened by the loss of basic civility in how we deal with one another and how the judiciary makes justice seem so out of reach for those who need it most.

I like to begin with men of commerce. Ghandi in his deadly social sins laments commerce without morality. Everyday I interact with businessmen who find in “neutrality” an alibi. They argue that to protect their business they must not only avoid speaking truth to power but avoid those who speak truth to power. But the “neutrality” is a living lie as they aid and abet the looting of an orphan nation in league with those in power. They cooperate in blackmail with elements in the media who blackmail them just as they yield to politicians who they finance and siphon state money through. The outcome is the state of play today that you are supposed to yield to blackmail to get on with the bigger prospect of money worship.

Businessmen are supposed to be smart but you find greed and laziness brought on by a rent-seeking behaviuor in a rentier state make them forget that where wealth by stealth predominates and injustice becomes the social condition, peace becomes elusive. And when anarchy comes, as it seems to have come to us, private jets will find no parking space. I experienced the hypocrisy of the men of commerce first hand when nearly 13 years ago, I created Patito’s Gang as an open forum for all, an electronic village to help speak truth to power. Commercial Nigeria which professed to love the show ran from commercial participation even when the reach was evident to extend their messages. There were clearly exceptions to the rule. Even as Patito’s Gang continues to run today on a few channels at home and on Ben TV in Europe, its history tells a part of the story of Nigeria. Its one year hiatus was laced with remarks by such men of commerce about missing the show that we made it return in January to Galaxy Television. But it really is in trying so hard to be close to men in power, and corrupt abuse of weak institutions and avoiding truth that our business class sets itself up for the judgment of history.

Then come the intellectuals. How many of them speak as clearly as Soyinka? As a graduate student in the late 1970’s, I came to admire a remarkable policy scholar at the University of California, Berkeley, Aaron Wildavsky, because of the title of his book; Speaking Truth to Power; and another of his kind, Yzikiel Dror. In his epic discussion of Leadership, in a book titled, Leadership, a former President of the American Political Science Association, James MacGregor Burns, makes the point that the intellectual derives his leadership attribute from a moral authority that flows from knowledge. Where are our men of knowledge? Why does Ghana make more progress? Is it because its most senior political leaders tend to be intellectuals committed more to the power of ideas than political machines that deliver real and imagined votes? There is a long history of explaining how the military got the sword to become mightier than the pen. In the main, they are rationalisations for abdicating personal responsibility to history. What will Franz Fanon say of us? We fled and sacrificed our children for fear of guns. Surely as intellectuals, we cannot in confidence say we have not betrayed the mission of our generation.

The Clergy seem uncertain about their role. They are often locked in romance with those in power yet power creates conditions that prevent their flock from living out the promise of being co-creators with God, man overcoming his environment, and building a better society. I have struggled with the responsibility of religious leaders on the subject of wealth, poverty and human destiny, a subject often discussed by Michael Novak, philosophically confronted in Doug Bandow’s volume on the subject.

The failure of our religious leaders to strongly affirm the living of a unity of life such that the Tuesday man at the boardroom is same as the hugging usher on Sunday is reflected in why power ridicules truth in Nigeria. Concern about the faithful and dignity of the human person so often crushed by the conduct of leaders that are not accountable to the people should rouse religious leaders to active pursuit of a more just social order.

How did we all come to act with little care for that which we have in common and share? From theories on the curse of oil to leadership recruitment and succession errors, rationalisations have been offered. The real question is, are we willing to salvage this sinking ship in the interest of a generation whose interest we have unfairly mortgaged. If Soyinka’s is a wasted generation and mine is a hapless generation, can we then sacrifice so our grandchildren may have the redeemed generation? The pathway to restoring the dignity of man for Nigeria is for Nigerians to get together and talk in candour. First, we have to talk about what went wrong and then about how to construct a modus vivendi just to all. How do we form civil servants so they do not steal money they do not need leaving pensioners to die uncared for because of their greed? The only reasonable way forward is talk.  And talk we must if we must all move forward as a nation.                      

Drama as Daniel, others visit PDP headquarters

There was drama at the headquarters of the Peoples Democratic Party in Abuja on Tuesday when former Ogun State Governor Gbenga Daniel and some members of the party visited the office.

It was Daniel’s first visit since the 2011 governorship election in Ogun State which was won by Ibikunle Amosun of the Action Congress of Nigeria.

Daniel’s loyalists broke away from the PDP and formed the Peoples Party of Nigeria, which fielded Alhaji Gboyega Isiaka as its governorship candidate.

Daniel was blamed by members of the PDP for allowing the opposition to win the governorship and other elections in the state.

The former governor was at the party’s secretariat with people like Alhaji Sarafa Ishola, Chief Babatunde Osholake, Dr. Kunle Salako, Chief Niyi Adegbenro, Ronke Ogunromi, Mrs. Iyabo Apampa, Segun Odusote and Yemi Akinwunmi.

Investigations by our correspondent indicated that apart from the national chairman of the party, Dr. Bamanga Tukur, other members of its National Working Committee refused to be part of the meeting with Daniel and members of its entourage.

The National Secretary, Prince Olagunsoye Oyinlola, and the National Auditor, Chief Bode Mustapha, declined to join the meeting when they were called upon.

Oyinlola was said to have sneaked out after his first encounter with Daniel, but he was surprised to still meet Daniel and members of his entourage when he (Oyinlola) returned about three hours later.

It was learnt that the NWC members were not comfortable with the presence of Daniel, who they believed campaigned against PDP candidates during the governorship and other elections in the state.

At the meeting with Tukur, Ishola said it was wrong to say that Daniel had left the party just because he worked against its candidates during the elections.

Ishola, a former Minister of Mines and Steel Development and Secretary to the state government under the administration of Daniel, said that contrary to the speculation, Daniel ensured that all PDP members who left the party were brought back during PDP’s membership re-registration last November.

He said, “Otunba Gbenga Daniel never left the PDP for one day. Rather he was the one that brought back aggrieved members and others last November.”

Pastor accuses wife of using charms

A pastor, Jimoh Ajose, yesterday, urged a Badagry Customary Court to dissolve his six year-old marriage, accusing his wife, Abosede, of using charms on him.

The pastor, who lives on Gboko Street, Igborosun, Badagry, also accused his wife of being quarrelsome, adding that he no longer loves her.

“I am seeking the dissolution of this marriage because we no longer love each other. She fights with church members and she once broke the head of a member on mere suspicion that I was befriending her," he said.

According to him, he has locked her out of the house, because of her incessant quarrels. He said her attitude if unchecked, can break his church.

Abosede denied the allegations. She said she never used charms on her husband. 

Rather, she accused her husband of sleeping with wives of church members. 

"I did not use charms, the only soap he saw with me was meant to promote my ailing trade," she said.

Mr Olanrewaju Dasilva, who stood in for the President of the court, Mr A.B. Kudaisi, asked the couple to go home and resolve the matter amicably. “The two of you must remain peaceful," he said. The case was adjourned to June 6.

Obasanjo under attack for calling lawmakers robbers

Obasanjo

Former President Olusegun Obasanjo was under attack yesterday over his comment that “there are more rogues and armed robbers in the State Assemblies and the National Assembly”.
Obasanjo spoke on Tuesday at the Fourth Annual Conference of the Academy for Entrepreneur Studies Nigeria (AES) at the Nigerian Institute of International Affairs (NIIA) in Lagos.
Former Head of State Gen. Yakubu Gowon and former Interim National Government (ING) head Ernest Shonekan also spoke at the conference.
The Senate requested Obasanjo to name the rogues in the National Assembly. The House of Representatives mandated its Committee on Ethics and Privileges to investigate the statement.
The Chairman, Senate Committee on Information, Media and Public Affairs, Senator Enyinnaya Abaribe, at a news conference, challenged Obasanjo to name the rogues and criminals - in the spirit of transparency and openness.
Obasanjo, according to media reports, descended on the Legislature, the Judiciary and the Police, describing them as corrupt.
Obasanjo was quoted as saying: “Integrity is necessary for systems and institutions to be strong. Today, rogues, armed robbers are in the State Houses of Assembly and the National Assembly. What sort of laws will they make?
“The judiciary is also corrupt. During my tenure, many of the corrupt judges were removed, some are still there.
“If the judiciary becomes corrupt, where is the hope for the nation? Justice, no doubt, will go to the highest bidder. The judiciary did not see anything wrong with a former governor but the same set of evidence was used to sentence him in the United Kingdom.
“The police are even worse. Well, I will not lament. I will only say let us understand our problems and emphasise the good ones.”
Abaribe said the Senate had been inundated with inquiries over the statement credited to Obasanjo.
He noted that the National Assembly has great respect for the former President and “the National Assembly can never engage in any talk back to the President.”
He said: “But we actually feel that the former President would help the National Assembly and, indeed, also help Nigeria in the new spirit of transparency and openness by assisting the National Assembly to name those he knows in the National Assembly as either rogues or criminals.
“That would help us to be able to sanitise the polity and we sincerely thank him for his role in Nigeria, someone who cares very deeply about the Nigerian state and how it is at the moment.”
Abaribe said the appeal also goes not just to Obasanjo, but to other Nigerians who are concerned about the country.
He said: “We also urge other Nigerians who are concerned about Nigeria to also in the spirit of transparency, let us know whatever information that they have so that we could use it to check ourselves and to make Nigeria a better place.”
The House of Representatives ordered an investigation into the Obasanjo statement after Speaker Aminu Tambuwal stopped what would have turned a hot debate on the issue.
He referred the matter to the Committee on Ethics and Privileges because members agreed that their privilege had been infringed upon.
Deputy Minority Leader Suleiman Kawu Sumaila moved a motion under order of privilege. He said Obasanjo should be called to order over his comment
Tambuwal ruled against the motion.
Kawu, moving the motion, said the former President had infringed upon his image and privilege.
According to the lawmaker, the Obasanjo statement could bring disrepute to him (Kawu) as a member of the National Assembly.
“Enough is enough,” Kawu said in an emotional voice.
  The lawmaker added: “I am raising this point of Order under matters of personal privilege because the former president called us rogues and armed robbers, but I am not an armed robber. Neither I’m I a rogue.
  “His greatest grouse against us is that we refused him third term in office and since then, we have become his enemies.
“But Obasanjo does not have the credibility in Nigeria.”
Many members who were eager to speak on the issue raised their hands for recognition.
But Tambuwal intervened, believing the debate on the issue might go out of hand. He said the matter should not be further debated.
“I believe this is not a matter that should be debated. It will be referred to the House Committee on Ethics and Privilege for investigation. We cannot go into the foray and begin to discuss this matter. The matter is hereby referred to the Committee on ethics and Privileges for investigation,” Tambuwal said.

Knocks for Jonathan over Salami’s fate

Justice Salami

THERE was more outrage yesterday over Appeal Court President Isa Ayo Salami’s fate.
Justice Minister and Attorney-General Mohammed  Bello Adoke said the President has not approved Justice Salami’s reinstatement because doing so will be subjudice.
But rights activist Femi Falana said yesterday that President Goddluck Jonathan lacks the power to reject the recommendation of the National Judicial Council (NJC), which has asked suspended Justice Salami to be reinstated, on the recall of a Judge.
He said the President is overreaching himself by his continuous refusal to approve Justice Isa Ayo Salami’s reinstatement.
According to him, there is nowhere in the Constitution where the President or a governor is empowered to exercise disciplinary control over a Judge. Such power, the lawyer said, is vested in the NJC.
The Action Congress of Nigeria (ACN) condemned the President for declining to approve the recommendation of the National Judicial Council (NJC) to reinstate Justice Salami.
In a statement by its National Publicity Secretary Alhaji Lai Mohammed, the ACN said the “Jonathan administration lacks honourable character.
“The President has decided to sacrifice honour on the platform of political expediency. 
“It is part of a wider plan to cow the judiciary and silence upright judges “.
Falana, who spoke in Abuja yesterday at the end of a court session, said: “When there is a recommendation for removal of a judge, that is when the President or governor comes in because they are the appointing authorities. But with respect to investigation, it is the responsibility of the NJC to suspend and return a Judge if no indictment is established. 
“With respect to the case in court, Justice Salami’s case was pending in court when the NJC exercised its power to suspend him. Before it took the decision to recall Justice Salami, a fresh case had already been filed at the Federal High Court but the NJC, in its wisdom, decided suomotu that we need to put this matter behind us; and that is the end of the matter. 
“I have challenged any lawyer in Nigeria to show the provision of the Constitution that empowers the President to interfere or intervene in the investigation of a judge. There has not been a single instance where the President or the governor endorses suspension...
“If you look at the powers of the NJC; the NJC is empowered to investigate judges and exercise disciplinary control over them. But when it comes to removal or dismissal, it is the appointing authorities that can do that. It is like the Civil Service, if you are being investigated, you are interdicted and once the investigation is completed and nothing is found against you, that is the end of the matter. If he had been indicted, then the President would have been asked to remove him. It is the sole responsibility of the NJC and that is why I’m saying it has never happened in the history of Nigeria. 
“The NJC has done its own work; it has investigated and has decided to exonerate him; it is not a presidential matter. And I want to appeal to all political interests to allow this matter to be resolved by the judiciary. This business of giving the impression that it is a political matter is not helping the cause of justice in Nigeria and it is embarrassing the judiciary. Once the matter has been resolved, that is the end of the matter,” Falana added
A right group, Access to Justice (AJ) said President Jonathan’s refusal to reinstate Justice Salami is “hollow and self-serving”.
It said the President will need to explain how some lawsuits matter more than others and the criteria for “cherry picking” issues that are sub judice.
A statement by AJ’s Director, Mr Joseph Otteh, said: “President Jonathan’s decision not to reinstate “suspended” President of the Court of Appeal Hon. Justice Ayo Salami on the grounds that there are subsisting court actions on the matter is a hollow and self-serving justification. 
“It is important to remember that it was the NJC that sought the President’s authority to remove Justice Salami from office in August 2011, even in spite of a pending lawsuit against the council. 
“The President partly accepted to ‘remove’ Hon. Justice Salami by asking that he remain on suspension pending the determination of his lawsuit, again, in spite of a lawsuit seeking to stop him from accepting the recommendation of the NJC or acting on it anyhow. 
“It is somewhat late in the day and will appear opportunistic now to use the subsistence of lawsuits as a reason to refuse reinstating Justice Salami.
“Otherwise, the President will need to explain how some lawsuits matter, and others do not and what the criteria is for cherry picking what litigations have these consequences and which ones do not. 
“The Hon. Attorney General of the Federation says that the Judiciary should put its house in order. This is exactly what the Judiciary is trying to do with the recommendation to recall Hon. Justice Salami. “