Archive for nigeriang

PERSONAL FINANCE: Do you still hold on to your share certificates?

PERSONAL FINANCE: Do you still hold on to your share certificates?

Are you one of those people that keep your share certificates in a cupboard at home or have them framed and hung on the wall, feeling a comforting sense of wealth as you admire them?

The Nigerian Stock Exchange (NSE) has been steadily phasing out the issuance of share certificates and for a few years investors, in the Nigerian capital market have been urged to comply with its directive to “dematerialise” their share certificates. Even though the original deadline was extended, reluctant shareholders will eventually have to transfer their existing share certificates to an electronic share settlement system, which will ultimately render paper certificates virtually obsolete.

Paper certificates have hung on, particularly amongst smaller private shareholders and those who maintain inactive portfolios. There continues to be a preference for the traditional “proof” of ownership of a paper share certificate, especially among older shareholders. When they finally come round to the idea of dematerializing stacks of certificates, there is often confusion from out-of-date or invalid share certificates purchased nearly 40 years ago, following corporate takeovers and stock splits.

Central Securities Clearing System (CSCS)

One of the greatest developments in the Nigerian capital market was the establishment of the Central Securities Clearing System (CSCS), which commenced operations in 1997. When an investor opens a CSCS account, the shareholder’s data is captured or transferred into an electronic register and an equivalent number of securities are credited in electronic form to the CSCS depository. The paper share certificates are replaced by electronic statements reflecting the investors’ shareholding and its’ current value. Dematerialization facilitates paperless trading whereby transactions are executed electronically.

Have your shares lodged securely

By having your shares securely lodged in a CSCS account you can safeguard your investments, as the burden of storage and handling of your share certificates is taken off you. Apart from keeping accurate records of your shareholding and updating the records as new transactions are effected, it eliminates the risk of the loss of documents due to theft, fraudulent transactions, or extreme risks such as fire or flooding, which are very real hazards when certificates are stored at home in material form.

A periodic statement helps you keep track of your CSCS account and should you feel that you need additional protection, a CSCS Special account will provide this. A trade alert system is also in place, which will alert you by text should any transaction be made on your account.

No more delays

Registrars have a huge client base to serve; this makes the printing, sorting, and dispatching of certificates a challenge. In spite of the fact that registrars supposedly use their best effort to post certificates to the addresses on their records, shareholder complaints regularly flood registrars’ offices as they attempt to sort literally hundreds of thousands of certificates. As no transaction can be carried out until a shareholder receives his or her share certificates, this naturally causes much anxiety for shareholders.

Having a CSCS account makes subscription for new shares through a public offer or a rights issue much easier; you simply indicate your CSCS account number and the number of shares you applied for on the form, and the number allotted to you will be credited directly to your CSCS account. This means that the issuance of physical certificates and the attendant delays in receiving them is avoided, as the issue of certificates being lost in transit will have become a thing of the past.

Selling your shares

If you still hold paper certificates and wish to trade your shares, you could be subjected to delays in the verification process, which can sometimes be long and tedious. You could thus lose out should share prices move against you, as you will not be able to sell the shares until they have been dematerialized.

A CSCS account gives you greater flexibility, as the verification process has already been concluded. The registrar would already have certified that you own the shares by verifying your signature before it gets into your personal account. You are thus able to sell quickly and efficiently where there is the market for the shares and take advantage of any market movements. This is a critical issue, particularly in a volatile market.

Borrowing against your shares

If you wish to borrow using your shares as collateral, your banker or other lender will want the certificates lodged and verified into a CSCS account. Without this in place, your transaction could be delayed.

On-line monitoring

Through the online facility at the CSCS website, www.cscsnigerialtd.com, registered investors can monitor their investments at anytime and from anywhere in the world. They can view CSCS stock account statements, obtain their stock positions regularly, and review and evaluate their portfolios. Investors can also monitor stock prices and new stock deposits into the CSCS.

The NSE continues to educate the investing public on the importance of the dematerialization of share certificates. Nigerian shareholders are encouraged to embrace dematerialization, as the initiative will further increase the efficiency and liquidity of the market and should raise investor confidence, leading to a more vibrant and transparent capital market.

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Transparency agency commences self-cleansing

Transparency agency commences self-cleansing

The Nigerian Extractive Industrories Transparency Initiative (NEITI), the promoter of transparency and accountability in the nation’s extractive industries, said it has taken steps to reorganise its secretariat to effectively deliver on its mandate.

The agency came into the negative limelight recently following reports of an internal wrangling among some of its top officials, which appeared to have threatened Nigeria’s quest for validation among the 31 countries that are due for re-assessment as EITI Compliant countries by the Extractive Industries Transparency Initiative (EITI) when its validation committee meets later this month.

The roots of the wrangling, which earned the chairman, National Stakeholders Working Group (NSWG), Assisi Asobie, a query from the Secretary to the Government of the Federation (SGF), Mahmud Yayale Ahmed, was traced to reports of corruption charges against the then executive secretary, Haruna Sa’eed, and the former director of services, Stan Rerri.

Both were accused of “abdication of responsibility and ineffectual leadership”, as well as “inaction” in preparations towards the 2009 Civil Society (CS) training programme, involving a controversial disbursement of about N15 million to two hotels in Lagos and Kaduna, before it was initially postponed, and later cancelled.

Mr. Sa’eed, as head of the secretariat, had denied authorising the disbursement of the money, while Mr. Rerri, who reportedly colluded with the former accountant, Sunkanmi Adeoti, and former procurement officer, Tony Onyekweli, to make the payment without the knowledge of the ES (Executive Secretary), ignored all entreaties to recover the money and pay back to the NEITI coffers.

Mr. Asobie, in his response to the SGF’s query, said the trio have been relieved of their positions, after the Leke Alder-led ad hoc investigative committee constituted by the Board had recommended “overhaul of the administration of NEITI Secretariat for efficiency and effectiveness.”

Roots of the crisis

Mr. Asobie also traced the roots of the crisis to the NSWG resolution two years ago to engage the services of human resources consultants to examine the structure of the NEITI Secretariat; evaluate existing staff and their official positions; develop new terms of reference for all roles within the secretariat; design suitable managements system that fits the requirements of NEITI; and construct recruitment guidelines and recruitment plan for NEITI.

Though Mr. Rerri reportedly participated actively in the recruitment of the consultants and supported them till they completed their assignment, he, however, rejected the recommendation that he be relieved of his position as director, Support Services, or show proof of being a chartered accountant if his wish to be a director would come to pass.

Despite the board’s acceptance of the consultants’ recommendations, neither Mr. Sa’eed nor Mr. Rerri took it seriously, with the latter not only continuing to identify himself with the unofficial designation of “Director (Administration/Finance)”, but also going ahead to issue a letter appointing one Garba Saidu Yakawada as ‘Head of Internal Audit.’

Though the board took exceptions to the disregard to its resolution, and ordered immediate reversal, Mr. Rerri, in his petition to President Goodluck Jonathan, alleged massive fraud in NEITI, describing his removal as “an attempt to “silence the whistle blower”.

But, Mr. Asobie, who accused Mr. Rerri of allowing “unprincipled bureaucratic politics to undermine Nigeria’s interest” by mobilising groups to lobby for the non-validation of the country by the global EITI, said he was only “opportunistically blowing the whistle as a protective manoeuvre.” He also said the process to appoint a new executive secretary has commenced.

Mr. Asobie added that work is progressing well on the conduct of the 2006-2008 audit report while the final report is expected between December and January next year, while advertisements are out for expression of interest (EOI) for the fourth oil and gas sector audit and solid minerals sector audit.

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Ekiti people celebrate Fayemi victory

Ekiti people celebrate Fayemi victory

Hundreds of Ekiti indigenes, including motorcyclists, popularly known as (Okada) took to the street this afternoon in jubilation over the ruling of a Federal Appeal Court on a legal challenge to a rerun election held in the state last year, which has been decided in favour of the Action Congress of Nigerian’s (ACN) candidate, Kayode Fayemi.

Meanwhile, sacked governor of the state Segun Oni, has said that it was left to Mr Fayemi to continue with projects of his administration or abandon them.

He told journalists at a thanksgiving service held at the Government House Chapel, Ado Ekiti that he has worked for the progress of the state.

Mr Oni said he believed ‘it is the duty of government to provide for its people.’

A former governor of the state, Ayo Fayose, also said yesterday that Mr Oni was a product of injustice. He asked the new governor to hold Mr Oni accountable for plundering the state treasure. An Ilorin Appeals Court ruled this afternoon that Mr Fayemi was the rightful winner of the 2007 election.

Both the Action Congress and the Edo State governor, Adams Oshiomhole expressed joy with the ruling. They said the decision of the court shows that the Nigerian judiciary is coming of age.

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FORENSIC FORCE: President Jonathan’s many cooks

FORENSIC FORCE: President Jonathan’s many cooks

I had breakfast
with President Goodluck Jonathan on the 1st of October: No, not my
contrived one hour with the president a couple of months ago, and no;
it was not a private breakfast. It was in the company of many other
Nigerians invited to the occasion by the President and Commander in
Chief to mark Nigeria’s 50th Independence Anniversary.

Afterwards, we
moved to the venue of the president’s Independence Day speech,
broadcast live to the nation. After the speech, he interacted with us
before leaving for the Eagle Square. President Jonathan came across as
essentially decent, but I am dismayed by his cooks. Not Aso Villa’s
chefs but the political cooks stoking up the bonfire of his
presidential ambition.

President Jonathan,
like other people in power has many friends. And that, precisely is my
concern. It is not the number of friends, but their ulterior motives
and pedigrees that worry me. The president I sat with spoke to the
whole nation, but in the aftermath of the bomb blasts was saying “I am
from the Niger Delta…I know my people….” Is that to say that the
rest of us are not his people?

Nigeria is a
complex country. Managing the country requires composure, maturity and
tremendous self-restraint. My apprehension is that the many cooks in
the president’s kitchen (cabal once again?) have little appreciation of
the nuances needed to knead Nigeria. While it may be said that the late
President Umaru Musa Yar’Adua assembled a highly provincial team from
Katsina State lacking a national outlook, President Jonathan on the
other hand has an outwardly national team without a nationalist
mind-set.

A look at some of the president’s major supporters may be worthwhile.

Vice President
Namadi Sambo was hardly a brilliant choice. That the Jonathan campaign
team had to deny reports insinuating that Sambo would not be the
president’s running mate speaks volumes. It is debatable if Sambo can
deliver Kaduna State to the ticket because he was forcefully imposed as
governor in 2007. Not much has changed.

Just when you think
things cannot get any worse…. This column gave Turai Yar’Adua
scorching criticism for what was perceived as undue influence in
matters of state. We now have a new benchmark. Mrs. Patience Jonathan
is not the wife of a local government chairman. So what business does
she have engaging in populist and ill-advised activity like sharing out
bags of rice to people? It is an indication of how bad things are in
Nigeria that three people reportedly lost their lives at the
scene…for a bag of rice.

Jonathan’s option
of director general of his presidential campaign team is another
curious decision. Senator Dalhatu Sarki Tafida, the septuagenarian High
Commissioner to the United Kingdom played a very prominent role in
former president Obasanjo’s life presidency bid. He was so unpopular at
the time that he dared not visit Zaria, his hometown without an escort
of mobile policemen.

Tafida was forced
out of the Senate and compensated with an ambassadorial posting. In
free and fair elections, it is inconceivable that he will win his ward.
Deep down in his heart, Tafida probably does not believe that President
Jonathan would win. It is difficult to see how this man will energise
and engage the critical base for the campaign team.

The speed with
which Mohammed Abba Aji transferred support from the Yar’Adua to the
Jonathan camp should have made the president suspicious. As Yar’Adua’s
link with the National Assembly, Aji botched communication between the
Presidency and the National Assembly. We still do not know if there
ever was a letter from Yar’Adua to the Senate. Unfortunately, this man
not only kept his job, but also has become an integral part of
Jonathan’s team. What is his strategic and political value? With his
fortunes tied to Jonathan remaining in office, can this man be trusted
to give logical, selfless counsel?

In the final
analysis, it is clear that the many cooks in the president’s kitchen
are folks who can only concoct political poison. Olusegun Obasanjo;
Jerry Gana; Ibrahim Mantu; Jonathan Zwingina; Samaila Sambawa; Edwin
Clark; Hassan Adamu; Shehu Malami; Solomon Lar; Barnabas Gemade;
Bamanga Tukur; Tony Anenih – from a progressive viewpoint, the list is
odious.

Most of these cooks are bitter old men who have nothing to
contribute to the Nigeria of our dreams. Others are failed politicians
and businessmen seeking to feather their nests. They have nothing to
lose. Their only hope for relevance is continuing to muddle the
political environment in Nigeria and thriving in the resulting chaos.
Too many cooks….

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Capitalising on Delhi: to London for gold

Capitalising on Delhi: to London for gold

While they have all tried in their own ways to be worthy ambassadors of Nigeria, particular mention must be made of our special athletes, who despite the constraints placed in their way by the lapses within the Nigerian sports establishment, have risen to the occasion to command the respect of the international audience.

While we applaud our athletes, we cannot fail to mention the pall cast over our performance at the Games by the drugs scandal where two of our athletes, Damola Osayomi and Samuel Okon tested positive for the same banned stimulant, Methylhexamine. One of the consequences of those incidents apart from the obvious blight on our integrity was Nigeria’s loss of the gold medal won by Osayomi in the women’s 100 metres event.

Had that medal not been withdrawn our total haul of gold medals would have stood at 12, a situation that would have made our participation this year our best ever performance at the Commonwealth Games.

As it is, we are left to rue what might have been. Still, there’s much to be said for the fact that given the efforts of the NSC to educate our athletes on the dangers of doping, we find ourselves falling short at the international arena. While the athletes may not have deliberately set out to use performance enhancing drugs, the point must be made that had there been better co-ordination of activities within the Nigerian camp in Delhi, the affected athletes would not have turned to the drug without the knowledge of team officials.

That said, we must salute the performance of Team Nigeria and advise that as we revel in our success, we must not lose sight of the fact that the next games in Glasgow, Scotland is only four years away. Like Ibrahim Bio, our Minister of Sports has said, the time to start preparing is now.

Beyond that, we must seize the moment and recognise that the London 2012 Olympic Games is less than two years away. With careful planning we can sustain the Delhi momentum and ensure that unlike our participation at the last two editions, we strike gold in London.

The Commonwealth Games ended yesterday in Delhi after two weeks of intense competition. For the Nigerian contingent, it has been a wonderful outing.

With 11 gold medals already in the kitty, the last of them coming yesterday courtesy of Kate Oputa’s victory over Australia’s Catherine Morrow in the finals of the Women’s Single Wheelchair Table Tennis event, Nigeria has surpassed its gold haul at the 2002 Manchester Games and 2006 Melbourne Games combined.

For many Nigerians, the performance in India has come as a surprise given the general lack of preparedness of our athletes in the months leading up to the games. Before the Nigerian contingent departed for India, there had been reports in the media of how lack of funds had made it difficult for the National Sports Commission (NSC), to send athletes abroad on tours to complement whatever training had been given to them by their coaches.

The biggest casualty in this regard was our boxing team, which was completely outclassed in Delhi. The team, which had been scheduled to tour Germany to perfect strategies for the games, had to settle for a camp somewhere in Benin City.

Expectedly, officials of the NSC are engaged in chest thumping and backslapping. They are gleefully claiming responsibility for our good fortune in India. The truth of the matter however, is that what has happened in Delhi is the result of our athletes’ determination to succeed. That the athletes excelled despite the obvious drawbacks is testimony to their will to excel.

They have proved by their accomplishments in Delhi that with the right mixture of self-belief and patriotic spirit success can be achieved even in the face of the most difficult of odds.

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Lord of the Internet rings

Lord of the Internet rings

It didn’t take
long, sitting with an enthralled audience and watching the saga of the
cloistered jerk who betrayed those around him and ended up unfathomably
rich and influential, to understand why it has been hailed as a
masterpiece.

They had me at the
mesmerizing first scene, when the repulsive nerd is mocked by a comely,
slender young lady he’s trying to woo. Bitter about women, he returns
to his dark lair in a crimson fury of revenge.

It unfolds with
mythic sweep, telling the most compelling story of all, the one I cover
every day in politics: What happens when the powerless become powerful
and the powerful become powerless?

This is a drama
about quarrels over riches, social hierarchy, envy, theft and the
consequence of deceit – a world upended where the vassals suddenly
become lords and the lords suddenly lose their magic.

The beauty who
rejects the gnome at the start is furious when he turns around and
betrays her, humiliating her before the world. And the giant brothers
looming over the action justifiably feel they’ve provided the keys to
the castle and want their reward. One is more trusting than the other,
but both go berserk, feeling they’ve been swindled after entering into
a legitimate business compact.

The anti-social
nerd, surrounded by his army of slaving minions, has been holed up
making something so revolutionary and magical that it turns him into a
force that could conquer the world.

The towering
brothers battle to get what they claim is their fair share of the
glittering wealth that flows from the obsessive gnome’s genius designs.

The gnome, remarkably, invents a way to hurl yourself through space and meet up with somebody at the other end.

All of these mythic
twists and turns in “Das Rheingold” at the Metropolitan Opera in New
York were a revelation to me. I’d never seen the Ring cycle. I didn’t
even know what it was about. I loved everything about Peter Gelb’s $16
million production: the shape-shifting, high-tech stage, the mermaid
sopranos dangling from wires, the magnetic Welsh bass-baritone Bryn
Terfel, who plays Wotan, the weak ruler of the gods who tries to renege
after bartering his gorgeous sister-in-law for construction of a
gorgeous castle. (The moral of the story:

Never mess with your contractor, the contractor always wins.)

But as I watched
the opera, my mind kept flashing to the “The Social Network,” another
dazzling drama about quarrels over riches, social hierarchy, envy,
theft and the consequences of deceit. A Sony executive called “The
Social Network,” the David Fincher-Aaron Sorkin movie about Facebook’s
Mark Zuckerberg and his circle of ex-friends and partners, “the first
really modern movie.” Yet the strikingly similar themes in Wagner’s
feudal “Das Rheingold” – the Ring cycle is based on the medieval German
epic poem “Das Nibelungenlied,” which some experts say helped inspire
J.R.R. Tolkien’s “The Lord of the Rings” – underscore how little human
drama changes through the ages.

We are always
fighting about social status, identity, money, power, turf, control,
lust and love. We are always trying to get even, get more and climb
higher. And we are always trying to cross the bridge to Valhalla.

W.P. Ker defined
the heroic epic as “the defense of a narrow place, against odds.” And
that can just as well sum up the modern epic of the anti-hero Mark
Zuckerberg.

In “Das Rheingold,”
the dwarf Alberich is mocked and rejected by the Rhinemaidens. “Fury
and longing/ fierce and forceful/ surge through my spirit,” Alberich
sings.

Thwarted in lust,
stewing in rage, the gnome turns to greed and vengeance. He steals the
Rhinemaidens’ gold, returns to his sulfurous, subterranean cavern and
forges a gold ring that “would give unbounded power and wealth.”

He uses the ring to
enslave the other dwarves, “the Nibelungs’ nocturnal race,” and forge
and weld more gold trinkets, as well as a magic helmet that can make
him invisible and teleport him through space.

“No one can see me/
though he search for me/ yet I am everywhere/ hidden from sight,”
Alberich says, in a perfect description of the elusive Zuckerberg and
Internet users in general.

Then, in a mantra
that could belong to Jesse Eisenberg’s Zuckerberg, Alberich warns the
gods: “Beware! / For when once you men/ serve my might/ the dwarf will
take his pleasure/ with your pretty women/ who scorn his wooing, /
though love does not smile upon him.”

The 1854 Wagner
libretto has ornate language like “the soft zephyrs’ breeze.” The 2010
Sorkin screenplay has snappy, syncopated language about Python Web
servers and Pix firewall emulators.

But the passions
that drive humans stay remarkably constant, whether it’s a magic ring
being forged or a magic code being written.

© 2010 New York Times News Service

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EXCUSE ME: The spell on your business

EXCUSE ME: The spell on your business

If you are a
business owner in Nigeria and wondering why your profits are worse than
Nigerian stocks, do not go to any jazzman as they do in Nollywood
movies. You must also look beyond Facebook and Twitter, which are
gradually becoming the biggest anti-productivity drugs in the business
environment. Among the latest company to ban its workers from the use
of social networking sites, especially Facebook, is the luxury
automaker, Porsche because it poses a security threat to the company.
Whereas Facebook as a company has minted the freshest and youngest
among Forbes’ list of billionaires in the history of the United States,
the social network site has also cost countries like the United Kingdom
an estimated £14 billion in lost work time, because in that country
where things can be monitored and measured, 6% of its workforce spends
roughly one hour a day facebooking.

Well in my
wonderful country, we cannot really ascertain, even if we tried, the
amount of money employers of labour or Nigeria as a country are losing
because of Facebook in the workplace, reason being that we are trying
to count the number of hours we lose to our lawmakers who are
constantly arguing about how to loot the national coffers by
arbitrarily inflating their salaries and perks.

We have no problem
with social networking when compared to political networking especially
at this time when elections are around the corner. Britain would not
dare to publish its figures if they realised that what they lose to
social networking in the work place is moi-moi money compared to what
we Nigerians lose everyday to one bank MD networking with politicians.

This is not to say
we have no serious issues with Facebooking in Nigeria, just that ours
come in different colours. Facebook has allowed some of our leaders to
make us feel as if we are having a conversation with each other,
whereas you are probably instant messaging your cousin who is sitting
in a well furnished cyber café in Kubua or Yayan Karimu.

So when next you go
to your favourite politicians Facebook page and give him the thumbs up,
just remember you are hailing someone else, because I doubt if any of
the current presidential aspirants with Facebook pages who are busy
networking politically have time for virtual social networking.

Do not get me wrong
because there is much to be gained from Facebook for those that know
how to use it wisely and commercially, but for those that just want to
hang out there like Mami Market, it can be the most disastrous
adventure. Facebook is the biggest tatafo that was ever created. It’s
intended and unintended features can inflict untold pain and hardship
on users, so when next you see your friend’s profile message that reads
“Goodluck is Married to Patience”, just know that he is Facebooking
from the dog house and kindly give him the thumbs up, he will
appreciate you and laugh at your silly jokes when next you post them.

But this is not
where I am going this week; Facebook just sidetracked me, which is one
of its side effects. What I wanted to say earlier is that I think
Africa Magic, the DSTV channels that show Nollywood movies might be the
biggest bleeder of Nigeria businesses. Most homes and small businesses
in Nigeria have their TVs permanently on one version of Africa Magic or
the other.

Haven’t you been to
a hospital, while malaria is racking your bones, the nurse will be busy
chewing gum and waiting for Ramsey Noah to take off his shirt? Or have
you not had one of those experiences where you order rice, but the
waitress brings you an omelette because he or she was engrossed with
the pranksters, Aki and Pawpaw?

My latest
experience on the adverse effect of Africa Magic could be having on
Nigerian businesses was in my barber’s shop. There is a small notice by
his mirror that says a haircut with NEPA costs N200 but with his
I-better-Pass-My-Neighbour generator the price goes up to N300. On this
particular day, there was NEPA but he had his TV on Africa Magic.
Between running the clipper on my hair for two seconds and watching
Genevieve “romance” RMD for three minutes, NEPA took light, leaving me
with a temporary Mohawk, like one of those Benin chiefs during Igue
Festival. I sat livid while he was trying to start his small generator
that was leaking oil all over the environment.

All said and done I gave him N200 and told him I would not pay N300
because he had enough time to cut my hair before NEPA did what they do
best. We stood there looking at each other; he couldn’t believe his
eyes because I usually pay him more than N300 whenever I cut my hair,
but that day I just realised he did not know the difference between
production time and Africa Magic time. And Nigeria has more Africa
Magic addicts than Facebook addicts. When we compute what business lose
to AfricanMagic one day, the moment wont be magical..

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Fafunwa and our heroes past

Fafunwa and our heroes past

When he died last
Monday, aged 87, a former minister of education and one of Nigeria’s
key players in that sector in the last 50 years, Babatunde Aliyu
Fafunwa left behind his life-long companion, his wife, Doris and
children and grandchildren who have done him proud as a father.

However, the man
who devoted his entire career to educating generations of Nigerians
also left behind a nation still grappling with defining its destiny and
an even more troubled education sector. It is perhaps not surprising
that one of the last public actions of this driven and doughty man was
to rise in defence of one of his signal contributions to Nigerian
education: the 6-3-3-4 system introduced by the federal government in
1983 when he was the minister of education.

Fafunwa and other
scholars had for long argued that the former British 6-5-4 system was
inadequate for the nation’s needs. They contended that the British
based system was parochial, elitist, regurgitate and unresponsive to
the need and aspirations of the Nigerian society and fought for what
they said was a more suitable one, which was later adopted by the
federal military government.

Yet, participants
at a recent education workshop, including President Goodluck Jonathan,
blamed the rot in the nation’s education system on the change from the
British system to the more American one, which was supposed to provide
room for individual development. As it happens, the federal government
has itself changed the 6-3-3-4 system to the 9-3-4 system.

It is a trite
argument that education, along with most other sectors of the Nigerian
society, is in very parlous state. Employers of labour routinely bemoan
what they tag the ‘unemployability’ of Nigerian graduates while fresh
graduates themselves deal with diminished and vanishing employment
opportunities – and don’t even get them started on the conditions under
which they receive their training!

Surely the blame
goes beyond an operating system taking into consideration the now age
old Nigerian propensity to rush things through and hope for the best?

Take the 6-3-3-4
system: one of the recommendations of its promoters was that an
adequate number of teachers and the requisite infrastructure be
provided before the system was launched.

This never happened and it ensured that the expected outcomes were not achieved.

The new system,
anchored on a well-promoted university basic education programme, has
itself not fared any better. It has been struggling with under funding
and lack of teachers to bring the project to reality. It would not be a
surprise if this is also jettisoned by another administration a couple
of years down the road. This business of chopping and changing while
ignoring the basics is as unsustainable as it is pathetic.

No nation can
truly achieve its potential with an uneducated – or poorly educated
citizenry and Nigeria cannot be an exception. If any government
official – or parent – needs any reminder of the low quality education
that children are receiving across the nation’s schools, they only need
to check the result of graduating secondary school students over the
past couple of years.

The failure rate
has been consistent in its abysmal level. Our education system is
failing our children – and you cannot hang this on one man.

The death of Mr.
Fafunwa also poses another dilemma for national planners. He was a
member of a generation that was well trained in local and international
institutions and was still devoted to working in their country to build
a better future. It is a moot point whether they truly were able to
achieve this.

Many of the
fresher graduates expected to lead in future are badly prepared – and
probably see little to recommend them to a life of public service, and
that is they have not already fastened their hopes on making a living
abroad.

Our present leaders need to realise, to use a much-abused phrase,
the urgency of now. There is a need to ensure that the labour of our
heroes past – thinkers, doers and leaders – is not in vain. Hard work
and dedication to duty must therefore replace fickle chicanery.

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National Service

National Service

Oluwadamilola
Olusola has lived up to the calling of the national youth service. The
25-year-old corps member in Ogun State on her own steam renovated the
children’s ward at the State Hospital, Abeokuta, as part of her
community development contribution.

Olusola is not a
doctor or an architect but a lawyer who graduated from the University
of Lagos. On a visit to the State Hospital the sad conditions prompted
her to do something about it.

“I just wanted to
do something to influence the community, so I embarked on this project
to renovate the children’s ward at least to make the ward conducive for
the sick children.”

Olusola spent her
service year that ran from November 2009 giving the children’s ward in
a makeover. New paint, mattresses, bedding, mosquito nets ceiling fans
and electrical fixtures and notice board were some of the standard
features she brought in as well as other touches to make the ambiance
more pleasant for the young patients.

Ms Olusola’s
story of how she raised the money for this project is a lesson in
enterprise and resourcefulness, no contract padding no obstacles to
“settle”. She made her appeals on the basis of charity but also
displayed a most democratic approach to raising the necessary funds
went to those who should have had more than passing interest in the
subject she had set her heart on. Both church and state were happy to
contribute to this laudable cause.

“I generated the
funds from corporate bodies and individuals like the state Commissioner
for Local Government and Chieftaincy Affairs, Permanent Secretary,
Ministry of Justice, Permanent Secretary of Local Government and
Chieftaincy Affairs, Permanent Secretary Ministry of Environment,
Permanent Secretary Bureau of Cabinet and the Redeemed Christian Church
of God, Soul Winners Chapel, Lagos state and the Attorney General of
Ogun State also donated generously.”

The project took
ten weeks from idea to completion, which also included getting approval
for the National Youth Service Commission. The launching was a happy
occasion featuring Oyin Sodipo permanent secretary, in the Ministry of
health, representing the state commissioner who expressed her pleasure
with what she called an example of individuals complementing the
efforts of government and indicated that more of such activity would be
greatly welcomed.

When Olusola who
works at the Ogun State ministry of Justice was asked if she would like
to build a children’s home on day she gave this answer:

“I am a lawyer,
it is not likely that I will build a children’s home but what I hope to
do, is to continue with this ward renovation yearly and if possible
moving from here to other state hospitals. I believe that by doing
things like this, other people might see it, and do something of such
in the future to help others in need.”

What a complete
package in this example of young Nigerian enterprise: initiate,
independently finance complete and maintain with a plan for progressive
future expansion. What a contrast to the government: “Government cannot
do everything on its own,” the permanent secretary, Oyin Sodipo. Truth
is that the government can certainly do far more than it does to
provide the basics of a health care delivery system.

But with people like Oluwadamilola Olusola there is hope for Nigeria.

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