Archive for nigeriang

An Austrian’s view of Nigerian culture

An Austrian’s view of Nigerian culture

I first heard about Dr. Barbara Plankensteiner in glowing terms
from Mr. Daniel Inneh; a former Secretary to the Omo N’Oba N’Edo Ukuakpolokpolo
Oba Erediauwa of Benin, and a direct descendant of Chief Inneh, hereditary head
of the Bronze Casters Guild of the Benin Kingdom, based in Igun Street, Benin
City.

We were both working together towards facilitating an
I.W.C-B.B.C film project on ‘The Lost Kingdoms of Africa’; a segment of which
was an interview with Oba Erediauwa on the status of the looted Benin bronzes
and artworks, now in the British Museum and, a documentation of present-day
bronze casting in Benin.

Inneh’s references to Dr. Plankensteiner were centred on the
magnificently-produced and informative 540-page catalogue for the equally grand
touring exhibition, ‘Benin Kings and Rituals: Court Arts from Nigeria’ she had
curated. I met her in December 2009, in Lagos, when she visited my 1979
photography Exhibition and, characteristically, she showed an interest in my
photographs of Oba Erediauwa’s coronation ceremonies and activities. It was no
surprise that Plankensteiner was present at the opening ceremony of Peju
Layiwola’s ‘1897.Com’ exhibition, which revisits the cultural trauma and
consequences of the Benin bronzes and artworks stolen in the guise of war booty
by the British.

A mammoth exhibition

Why and how did she get to curate the mammoth Benin exhibition?

“Since I am the curator of the Sub-Saharan African Collections
and, our museum also owns a big Benin collection; my Director General asked me
to do the exhibition on a large scale with the introduction of Benin
collections from other museums in the United States of America, Britain,
Germany, and the Nigerian National Museum. I got permission from Oba Erediauwa
himself who wrote an introductory note to the catalogue, and worked with the
then D.G. of the National Commission for Museums, Dr. Eluyemi Omotosho.

“It took over four years to prepare the exhibition and I came to
Nigeria four times. There were about 300 works in the exhibition; bronze, ivory
and wood artworks, coral beads, textiles as well as historic and contemporary
photographs, and videos about bronze casting and festivals in the Oba’s palace,
so that people could better understand the art on display.”

Naturally, Plankensteiner is happy about the huge success of the
travelling exhibition, which was first staged in May 2007 at the Museum for
Volkerkunde, Vienna, Austria and ended at the Art Institute of Chicago, US in
September 2008.

“It was very popular and people were very much impressed about
the quality and history of the art; particularly about the history of Nigeria
and the Benin Kingdom since the 16th Century,” she enthused. “It was new to
them,” she continued. “People didn’t know that there are still Kings and nobles
and festivals and, a living culture in Benin. The exhibition gave a larger
picture of the whole culture.”

A thorny issue

I had to seek Plankensteiner’s view on the thorny and recurring
questions of why these great Benin works of art are still in national and
private museums in Britain, Europe and America; their current legal status, and
the possibility of their return to the Benin Kingdom, the original owners.

In his introductory note, Oba Erediauwa had explained that,
“bronzes were records of events in the absence of photography,” and made
viewers aware that they, “will be reading as it were the pages torn off from
the book of a people’s life history; you will be viewing objects of our
spirituality.” Barbara Plankensteiner was both diplomatic and knowledgeable in
her answers. “I am not in a position to represent an institution, but I think
the museums of the world are well aware of crimes committed in the past,” she
points out.

“We are trying to open a
dialogue towards solving the problem. It was the first time a European museum
went to Benin City and [created] awareness on this issue. It was an initiative
and it will take and, must be, a collaborative effort to find a way to put
things right. It is a long time and as the laws now have no legal basis, since
it happened too long ago; the laws are outdated. Now, it is a moral issue. It
is not an easy question and all the parties involved have to work on it.
Whether there is restitution or not, we don’t know. We have to exchange
knowledge and support ourselves and things will work out well. We should not
forget that in Nigeria, there are great collections of Benin art in the Lagos
and Benin City museums and, some of the highlights of our ‘world’ exhibition
came from Nigeria. Oba Erediauwa sent four representatives including his
brother, Prince Edun Akenzua.”

The history of lace

Dr. Plakensteiner is currently in Nigeria working towards a huge
exhibition slated for October 2010 in her museum in Vienna, Austria. As is with
her style to achieve excellence, she has been meticulously working on this
exhibition since 2008, involving many visits to Nigeria. The exhibition is on
LACE; technically, industrial embroidery for which Austria is famous.

“The exhibition,” she explains, “is a cooperative project
between our museum in Austria and the National Museum in Lagos. It is about the
history of the use of lace in Nigeria and the history of the trade in lace from
Austria. It began in Austria when they started to produce a particular type of
lace inspired by tastes from Nigeria in the 1960s.”

There is also an exploratory angle to the exhibition, which she
highlights. “The Swiss always sold lace, but Austria developed a kind of lace
with Nigerian importers. In the beginning, lace came through Lebanese trading
houses. With independence, Austrian manufacturers came to Nigeria and started
dealing directly with Nigerian merchants. So we will be looking at how it
started, how it was introduced, and how the styles developed in the 70s. The
development of embroidery started in Austria. We are trying to get all the
perspectives and document how lace was used in the past. It is established that
the centre of the lace trade was the Lagos-Ibadan axis from where it spread to
other parts of Nigeria. The main users of lace are the Yoruba.”

The Lace Exhibition starts in Vienna in October 2010, at the
Ethnographic Museum and it will be shown at the National Museum in Lagos in
March 2011. There will be an accompanying catalogue with photographs and
informed articles on the different topics represented in the exhibition.

Four Nigerian designers will be chosen to design styles from
lace materials provided by Austrian manufacturers. For now, the final designs
will be displayed on mannequins; and the designs will also be published in the
exhibition catalogue.

Again, Barbara Plakensteiner is trying her tested hand in curating Nigerian
culture for global exposure.

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Poetry in honour of Senghor and Cesaire

Poetry in honour of Senghor and Cesaire

Scores of poets and performers were on the bill for the poetry
component of the third Lagos Black Heritage Festival. Themed, ‘Poetry, Song and
Memory,’ the afternoon of performances and readings held on Wednesday April 7
in the Agip Hall, Muson Centre, Onikan, Lagos.

“In three weeks of running around the world, we’ve been able to
produce a very coherent group,” said compere Odia Ofeimun. He noted that the
poets on the bill fitted “every permutation of the generations in African
literature, from the oldest to the youngest.” He promised that the show would
present a composite image of poetry as it’s supposed to be, with performances
from The Steve Rhodes Orchestra; and Highlife greats Orlando Julius and Tunji
Oyelana. “Poetry is song is music is drum and drama,” affirmed Ofeimun, whose
co-presenter – the actress Joke Silva – was away “finishing a film that is
refusing to finish.”

The event was dedicated to Aime Cesaire and Leopold Sedar
Senghor, “Two exponents of Negritude poetry, which many of us have had to rebel
against but under which we continue to labour,” According to Ofeimun. Joke
Silva had been due to perform poems by Cesaire; these went unrendered, due to
her absence. The audience was however treated to Senghor’s poetry in
performance, thanks to the Crown Troupe of Africa. The late Senegalese
President’s poem ‘Mama Africa’ was followed by ‘Prayer For Peace’, which
dramatises Africa’s suffering at the hands of “white Europe”.

Eddie Aderinokun, Ogochukwu Promise (who read her poems, ‘Lagos’
and the racy ‘You Didn’t Tell Me’) as well as the group Nefertiti – provided
the interlude after a threatened walkout by Mabel Segun, in protest at an
outdated biography on her in the event’s brochure. On the stage eventually,
Segun recalled her early life before reading ‘Corruption’, saying, “I was very
influenced by the Bible, but not in the way people are influenced by it now. I
hardly read [the Bible] now; I read so much of it at school, I know it backwards.”
She also read ‘A Horizon Receding’ and the well received ‘The Plea.”

Gabriel Okara

Next on was another octogenarian, Gabriel Okara, whose classic
novel, ‘The Voice’ was published in 1964. Introducing him, Ofeimun said,
“Gabriel Okara wrote ‘One Night At Victoria Beach. Whoever read Literature at
school read ‘One Night At Victoria Beach.” Before reading his famous poem, ‘The
Call of the River Nun’, Okara spoke about the inspiration for the piece: “I
lived on the banks of the River Nun, swam there, fished there. I wrote this on
a hill, far from the River Nun. It was on top of the hill that this poem came
to me.” Then he read ‘You Laughed and Laughed and Laughed’ – about Europe’s
mistaken belief that Africa had no culture. The poem echoes ‘The Voice’ in its
use of the Ijaw concept of a person’s ‘inside’.

After his poem addressed to a young, innocent child, ‘Once Upon
A Time’, Okara, in an afterthought, decided to read one more poem, this time
from his most recent collection, ‘His Dream and His Vision’. The poet dedicated
the collection to all who suffered the tyranny of military rule and to MKO
Abiola, who – Okara reminded – once said at a rally, “You the people of this
country made me what I am today, and I will give you back when I am president
of this country.” But rendering ‘The Dreamer’ straight from the book (earlier
poems were read from printed A4 paper), Okara began to falter. He soldiered on
and the audience listened respectfully, but the faltering only got worse.
Eventually, he said, “I’m sorry, I have to stop,” leaving his audience wishing
he’d stopped on the third poem, on a high.

Femi Fatoba

The younger generation then got showcased, beginning with Tolu
Ogunlesi who read ‘Still’, for Haiti. Bringing the widow of Femi Fatoba onto
the stage Ofeimun said, “She is a performer in her own right” but on this day
she would be reading her late husband’s poetry. Lanre Fatoba read ‘June 12
1993′ and ‘2011′ from ‘They Said I Abused The Government’.

A third poem, ‘Aso Ija Mi Ti Ya’ was in Yoruba. She apologised
to those who did not know the language, explaining that, “I have a particular
attachment to [‘Aso Ija Mi Ti Ya’] because it was the last poem we wrote
together before [Femi Fatoba] left home and never returned alive.” Moreover,
“sometimes Yoruba is just not translatable.” She then went on to read the
piece, laden with the artful insults of a belligerent woman who hilariously
insists she does not want to fight. It left many in the audience with open
mouths. “This is to prove that poets don’t die,” said Ofeimun, after the
performance. Femi Fatoba wrote a whole collection on the city of Lagos, in
Yoruba. A translation of one piece, is the longest poem in ‘Lagos of the
Poets,’ the new anthology edited by Ofeimun.

Remi Raji et al

When it was his turn to perform, Remi Raji sang as he walked up
to the stage – to an unhurried introduction by Ofeimun – stopping to hug South
African poet Lesego Rampolokeng in the front row. Some in the audience hummed
along with Raji, who said, “So that I will not wait to hear Lesego, I will read
just one poem” from his volume ‘Gather My Blood Rivers of Song’. The poet said
it was “the most controversial collection I will ever write,” referring to his
controversial disqualification from the 2009 NLNG Prize for Literature.

Referring to glitches that bedevilled the event, Ofeimun
informed the audience that, “I skipped Amanze Akpuda because his flight has yet
to arrive. In fact, one of the [markers] of this reading is that some people
had to drive straight from the airport to Agip Hall.” Poet Emman Usman Shehu
was introduced as “the man who once sued the Zamfara State government for
introducing Sharia.” Shehu read ‘Not Asking For Much’ and ‘Next Ancestor’ from
his forthcoming collection, ‘Icarus Rising’.

After Akeem Lasisi (who read ‘Oshodi’ for the transformed Lagos
locale) and the instrumental girl-band, Topsticks – came a memorable
performance by Ghanaian Kofi Anyidoho. “African poetry is about poets like Kofi
Anyidoho,” said Ofeimun.

Lesego Rampolokeng

Then came dub poet Lesego Rampolokeng, who gave a wonderfully
hyperactive performance, hopping onto the stage and fishing his books at speed
from a bag and throwing them on the stage floor. Nigeria, he said, was the only
country so far where he’d had to bribe a customs officer to be allowed in. The
bribe was a copy of his own book. Rampolokeng talks at the same frenetic pace
as his poetry delivery. “I was walking alone. Singular. Solo,” was how he began
one anecdote. In his country, he said, “You have to be black to be a foreigner.
There are no white foreigners in South Africa.” The poet read ‘Bantu Ghost
& Lackey’ and ‘Syphilitic Theories’.

Adebayo Faleti and others

Adebayo Faleti, whose writing reputation was made in Yoruba,
delivered his performance in the language. In a dramatic and humorous turn that
transcended language, he rendered poems including ‘Onibode Lalupon’ (The Border
Guard of Lalupon), which played on the ‘speech’ of the talking drum. Of the
three elders on the day – others being Segun and Okara – Faleti was the most
triumphant, even dancing off the stage.

By now the programme was being rushed, as it had seriously
overrun. Uzor Maxim Uzoatu, Funmi Aluko, Iquo Eke and Ismail Bala Garba read a
poem each. Jumoke Verissimo gave just five lines of her popular piece, ‘Ajani’.
Many did not get to read at all. One of the highlights was a flamboyant
virtuoso performance by Orlando Julius who dazzled the audience; who needs a
poem when you’ve got a saxophone?

The Crown Troupe came back for an abridged version of ‘I Love Dis Lagos I No
Go Lie’, adapted from the 80s’ original featuring Wole Soyinka and Tunji
Oyelana. Then the man himself, Oyelana, came on to wrap things up with
infectious Highlife standards. At this point, it felt like the afternoon should
never end.

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EMAIL FROM AMERICA: Daughters of Eve and Other Tedious Tales

EMAIL FROM AMERICA: Daughters of Eve and Other Tedious Tales

Daughters of Eve and Other New Short Stories from Nigeria is an
anthology of Nigerian short stories edited by Dr. Emma Dawson and published by
Critical, Cultural and Communications Press (CCCP), Nottingham, UK. It features
the writers Abubakar Adam Ibrahim, Ikeogu Oke, Peter Ike Amadi, Jumoke
Verissimo, Ifeanyi Ogboh, Rotimi (Timi) Ogunjobi, Uchechukwu Peter Umezurike,
Tolu Ogunlesi, Soji Cole, Alpha Emeka, and Emmanuel Iduma.

This is an anthology so bad, I almost resolved to give in to
the fervent wishes of friends and foes – to give up reading and reviewing
books. It is becoming an unbearable ordeal. Why did I read this book? Well, the
editor’s preface starts out with an ambitious proclamation: “This series
focuses on the production of new writing in English, specifically new World
Englishes fiction… writing which is newly sourced, edited and presented with a
critical introduction.” This is the second in a planned series of anthologies
of short stories from certain sections of the world, where English is arguably
a second language.

It is disappointing that there is only one female writer
showcased in this volume. This is hardly representative of the muscular
performances of Nigeria’s female writers. Several of these alleged writers do
not belong in any anthology that seeks relevance. This is not an important work
but it does raise certain questions about how Nigerian, perhaps African
literature is viewed and categorised in traditional academia. It is time to
rethink the paradigm that drives the current worldview. Students of literature
are still being taught from the same tired pedagogy, reducing our stories to
the pre and post-colonial.

Globalisation as in the coming of the Internet and smartphones
has already dwarfed the linearism of colonialism in terms of its impact on the
way of life of Africans. To reduce today’s literature to something as remote
and amorphous as the post-colonial is to literally miss the boat of what is
going on in Africa today. Life is more complicated than that. Boundaries now
bleed gleefully into each other and dissolve into that gaseous entity called
the Internet. We must not be bound by the strictures of what was taught us in
the classrooms.

What I read in hard print lately seems to be relentlessly about
documenting the lives of the other, Africans being the other. Case in point:
Nigerian terms that are deemed alien to Western eyes are painstakingly
italicized to separate them from “normal” English. Why should we be italicising
egusi in the year 2010? Do we do the same to a Reuben sandwich? Why must our
otherness be branded with a big red sign – toxic waste? Stop italicising our
way of life.

The editor makes an eloquent case – that this is not the best
of Nigerian writing. Not once is there mention of the works of Nigerians
writers on the Internet. You will not find innovation here. The flagship short
story Daughters of Eve by Peter Ike Amadi is a heartbreak of a story only in
the sense that after reading this too-long tale that goes nowhere, the reader
is filled with compassion for the unnecessary effort that must have gone into
creating this distraction, There are some other comforting names in the book:
Tolu Ogunlesi, Ikeogu Oke, Jumoke Verissimo, and Uchechukwu Peter Umezurike.

There is a reason why they shine; they know their craft because
they practise it everyday everywhere. I enjoyed Jumoke Verissimo’s Lightless
Room. It was a reader’s delight. It did not belong in this collection of mostly
tired tales. Emmanuel Iduma does show a lot of promise in his story Guitar Boy.
However, even the best are plagued by editorial issues and poor research. Also,
the claim that this is fresh writing is easily debunked by searching the titles
of the stories on the Internet. I found quite a number of them on the Internet
and even in other “anthologies.”

Dawson may have consulted some experts on the subject of
Nigerian literature; however, it clearly does not show in the output. Several
influential names come to mind: Bibi Bakare-Yusuf, Ike Anya, Muhtar Bakare,
Sola Osofisan, Chuma Nwokolo, Nnorom Azuonye, Afam Akeh, Obiwu, Lola Shoneyin,
Molara Wood, Jeremy Weate, Chika Unigwe, Victor Ehikhamenor, Ivor Hartmann,
etc. Some of them are not even Nigerians; rather they are digital natives
toiling on the Internet daily to push the envelope in terms of how our stories
should be told.

New Nigerian anthologies are born literally every day on the
Internet featuring truly fresh and emerging voices. Fresh, frothing,
scintillating prose struts out of those web pages and social networking media like
great palmwine. You couldn’t tell from this collection but Nigerian literature
is alive and rocking although the reader can be forgiven for thinking it is on
life support judging from the mostly wretched offerings in this anthology of
mediocrity. If it is any consolation, the editor’s three sentence narrative on
her Okada motorcycle experience in Nigeria provided one of the few nuggets of
hilarity and brilliance in an otherwise forgettable anthology.

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HABIBA’S HABITAT: In search of sweet water

HABIBA’S HABITAT: In search of sweet water

In my father’s stories of his posting to Karazau, a remote
location in Northern Nigeria, during his job as a station master with the
Nigerian Railways in the 1950s, was an account of how Fulani herdsmen would
emerge from the bush and the villages asking for ‘sweet water’.

“Esh Em, a bamu ruwa mai dadi” (S.M., please give us some of
that your sweet water). They were referring to clear, boiled water, free of
harmful bacteria, guinea worm and other parasites that my mother drew from the
well, treated and stored in their quarters situated between the train station
and the village. My parents’ home was the only source of clean water for miles
around.

Ironically, 60 years on, the search for ‘sweet water’ continues.
At home, the Water Corporation bills us monthly for mains water supply, yet we
have been buying our supply from private water tankers for over six months.

Most of my neighbours have boreholes. Yet, the cost of sinking
and maintaining one is so high. Securing water for our uses costs a LOT of
money.

At the recent Commonwealth Regional Law Conference in Abuja, one
of the speakers asked whether water is the new oil; not just for us, but for
the world. We are contending with a natural resource that is being consumed at
a greater rate than it can renew itself; communities migrating across
international boundaries to follow shrinking lakes; declining rainfall that
most rural population rely on, urban spread and struggling water utilities.

Do we realise how much drinking water costs? Think about it. One
litre of bottled water costs more than a litre of petrol! How many of us, like
me, pay the Water Corporation monthly not to supply water? How many, like me,
have bought new water pumps and paid for new lines to be laid, with no results?
We should prioritise water security above the elusive 6,000 kilowatts that the
Ministry of Power has been promising us. We are buying both water and diesel,
and while our industry and businesses will become moribund without reliable and
cheaper power supply, our health and bodies will become impaired without
reliable and cleaner water supply.

More importantly in comparing oil and water, people have died in
fights over access to water. Access to water continues to be a matter of life
and death between farmers and herders.

Aah! Sweet water! In the developed world, drinkable water is
truly sweet. It is available everywhere for free – at water fountains on the
streets and from taps in restaurants, offices and homes. For more discerning
palates, there is a selection of waters. What strikes your fancy? Still water
from the French Alps? Sparkling water from Scottish highlands? Water that
tastes sterile, or slightly salty. Don’t like the taste of plain water?

You can opt for a variety of flavoured waters – lemon or
strawberry perhaps? Feeling weak? Go for vitamin-infused water, or water with
an energy boost. Need a bottle that is pleasing to the eye and decorative for
your table? Go for the designer bottles in cones and cylinders, or water
presented like wine.

A natural refreshment

And where do we find ourselves on this continuum between no
potable water, abundance, and designer water? Day after day, the poor still
trek for miles to fetch water. Each day, the mass of our urban citizens get
their drinking water from ‘pure water sachet’ sellers by the roadside. The bulk
of office workers get their drinking water from water dispenser suppliers. The
majority of homes have supplementary water storage facilities that they pay
private contractors to fill up. Cart pushers plying our roads with six to
twelve 25kg kegs of water are common sights.

Bottling companies that used to make their money from bottling
imported spirits and wines for the local market, are now largely bottling
water! Our own Nigerian Bottling Company, the makers of Coca Cola went so far
as creating their own brand of water – leveraging their existing distribution
networks for sales.

The developed world has moved on from water purely as a
necessity to water as also a desirable and fashionable consumable and
accessory. Water resources for basic needs are managed, conserved, and
rationed. More sophisticated technology to desalinate water is being developed.

Our technology is ramshackle water tankers creaking, rattling,
and leaking their way between their depots and private deliveries to the water
storage tanks of homes and offices. The streak of darkened wet tarmac marks the
trail of their passage on our roads.

The criminals have also gotten in on the act. While the
government and civil society are fighting to ensure the availability of basic
potable water, the established bottled water brands and distributors are
combating ‘pirates’ who refill used bottles with untreated water, recreate the
seal, and resell them as genuine.

More than one glass of red wine a day is injurious to the health. Other
alcohol clouds our minds. Packaged fruit juices, minerals and sodas are
fattening. The caffeine in tea and coffee over-stimulates our hearts. It is
best to go the natural route. Drink clean, odourless, sweet water!

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Again, tribunal postpones Ribadu’s case

Again, tribunal postpones Ribadu’s case

The Code of Conduct Tribunal trying Nuhu Ribadu,
former chairman of Economic and Financial Crimes Commission (EFCC), for
asset declaration-related offences, has once again postponed hearing on
the official withdrawal of charges against Mr. Ribadu.

The tribunal had, in its resumed sitting in Abuja
last Thursday, postponed to April 15, 2010, the sitting to deliver its
verdict on the federal government’s intention to terminate the asset
declaration case initiated against Mr. Ribadu.

Federal government’s intention to withdraw the
four-count criminal charge against Mr. Ribadu was revealed by the
special assistant to the Attorney-General of the Federation on
Litigation, J.O. Olatoke, on March 31.

He had argued that the 1999 Constitution gives the
attorney general ‘Nolle Prosequi’ – the power to discontinue such
criminal prosecution – at any stage of the case. He also told the court
that it was within the prerogative of the attorney general to decide
the cases he wants to prosecute or terminate.

Yesterday, neither the tribunal judges nor Mr.
Ribadu’s lawyers were present at the court. Court officials sighted in
the premises could not say why the court did not sit. The siting is
part of the conclusion of the processes of documentation needed to get
the suit properly terminated.

Minister’s involvement

However, the inability of the court to sit might be
connected to the recent shake ups in the justice ministry. Last week, a
court official who sought anonymity, said the turn of events last week
Thursday may be connected with the recent redeployment of ministers at
the Justice Ministry.

Adetokunbo Kayode, the former attorney general of the
federation, who suggested that the case be withdrawn, was redeployed to
the Ministry of Defence in the recent reformation of the Executive
Council of the Federation.

Mr. Kayode reviewed the case against Mr. Ribadu
shortly after he replaced Micheal Aondoakaa, and directed that it
should be withdrawn immediately.

Mohammed Bello Adoke, another Senior Advocate of Nigeria, replaced him as the new attorney general.

Ribadu’s return

When asked for his reaction, counsel to Mr. Ribadu,
Femi Falana insisted he had no problem with the postponement, “I have
no problem with the adjournment.” He however said the court did not
give him any reason for the adjournment.

The federal government had late last month indicated
its willingness to drop the charges against Mr. Ribadu, as exclusively
reported by NEXT, and he has agreed to accept the position of Special
Adviser on anti-corruption and good governance to Acting President,
Goodluck Jonathan. His new designation will be to supervise the
nation’s anti-corruption agencies, which include his former agency, the
EFCC; the Code of Conduct Tribunal; and the Independent Corrupt
Practices Commission (ICPC).

Mr. Ribadu is at present concluding his fellowship at
the Centre for Global Development in Washington, USA. During his last
visit to America, Acting Goodluck Jonathan had reportedly paid homage
to Mr. Ribadu when he sighted him in a crowd.

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Bankole warns against misuse of incumbency powers

Bankole warns against misuse of incumbency powers

With the 2011
general elections drawing closer, the Speaker of the House of
Representatives, Dimeji Bankole, has warned politicians against the
abuse of the power of incumbency.

Mr. Bankole spoke
through the House Chief Whip, Aminu Tambuwal, at the roundtable
conference on free and fair elections in Nigeria, organised by
Leadership Newspapers, in Abuja. He asked politicians to change their
“do-or-die” attitude towards elections, as it would not help Nigeria’s
democracy grow.

“There must be
transparency that checks the abuse and misuse of the power of
incumbency for extreme political advantage. Most importantly, there
must be attitudinal change by politicians and their followers.

“There is need for
a careful overhaul of our legal framework in order to ensure that it
does not allow lawless people to get away with impunity or allow all
sorts of tactical delays through legal technicalities,” the Speaker
cautioned.

Applying Uwais Report

The Speaker argued
that it is only when the wishes of the majority are respected and votes
of electorate are made to count, that they would accept the outcome of
any election organised in the country. He added that such a development
would also foreclose politically-motivated crisis and protracted legal
battles.

Mr. Bankole assured
that the National Assembly will adopt the salient aspects of the report
of the Electoral Reform Committee, headed by Justice Muhammadu Uwais,
with a view to fashioning an enduring electoral system for the country.

He added that the
electoral reforms that will be undertaken by the federal legislature
will broaden democratic participation and open up the electoral process
to greater transparency and credibility.

The Speaker said
that the legislature is concerned about the quality of the elections
Nigeria has had in the last eleven years, and expressed regret that
they have undermined the country’s reputation.

“The electoral
reforms are being fashioned to ensure that unwarranted executive, party
or electoral umpires influence in determining the final outcome of
ballot exercises, is decidedly stemmed.”

Blame the electorate too

Mr. Bankole said
the Independent National Electoral Commission (INEC) alone should not
be held responsible for the failure of the electoral process, adding
that the other stakeholders should also be blamed.

He said that the
nation’s quest for a credible electoral system cannot be achieved
through laws alone, but also a change in the general attitude of
Nigerians to the process.

“The National Assembly is sufficiently concerned about the quality
of elections we have had in the past. This is because democracies are
worth only little if the people do not vote, or votes do not count.
Free and fair elections, credible elections, are important because they
are the livewire of democracy.”

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World Bank supports South Africa’s energy plans

World Bank supports South Africa’s energy plans

The World Bank’s Board of Executive Directors has approved a
$3.75 billion loan to help South Africa achieve a reliable electricity supply
while also financing some of the biggest solar and wind power plants in the
developing world.

The loan which was approved on Thursday – the bank’s first major
lending engagement with South Africa since the fall of apartheid 16 years ago –
aims to benefit the poor directly, through jobs created as the economy bounces
back from the global financial crisis and through additional power capacity to
expand access to electricity.

Access is essential

Obiageli Ezekwesili, World Bank Vice President for the Africa
Region, in a statement, said “Without an increased energy supply, South
Africans will face hardship for the poor and limited economic growth.”

According to her, “Access to energy is essential for fighting
poverty and catalysing growth, both in South Africa and the wider sub-region.
Our support to Eskom combines much-needed investments to boost generation
capacity for growing small and large businesses, creating jobs, and helping lay
the foundations for a clean energy future through investments in solar and wind
power.”

The loan is provided to South Africa’s power utility, Eskom, and
was brought about by unique circumstances including South Africa’s energy
crisis of 2007 and early 2008, and the global financial crisis that exposed the
country’s vulnerability to an energy shock and severe economic consequences.

Other projects

The Eskom Investment Support Project (EISP) will co-finance the
following blend of energy technologies: $3.05 billion for completing the 4,800
Mega Watt (MW) Medupi coal-fired power station, using for the first time on the
African continent the efficient supercritical technology used in the
Organisation for Economic Co-operation and Development (OECD) countries; $260
million for piloting a utility-scale 100 MW wind power project in Sere and a
100 MW concentrated solar power project with storage in Upington; $485 million
for low-carbon energy efficiency components, including a railway to transport
coal with fewer greenhouse gas emissions.

According to the statement, in approving the project, the World
Bank noted South Africa’s achievement in increasing energy access from around
30 per cent of citizens to more than 80 per cent since the fall of apartheid in
1994 and noted its Free Basic Electricity policy that provides 50 kilowatt
hours (KWh) of free electricity per month to poor families.

The bank also noted South Africa’s pivotal role as generator of
60 per cent of all electricity consumed on the African continent and the
importance of a functioning electricity sector for job creation, economic
progress, human welfare, and poverty reduction.

Ruth Kagia, World Bank Country Director for South Africa, said,
“The Eskom project offers a unique opportunity for the World Bank Group to
strengthen its partnership with the Government of South Africa, Eskom, and
other financiers and help South Africa chart a path toward meeting its
commitment on climate change while meeting people’s urgent energy needs.”

“As part of the project, Eskom will pilot 100 megawatts of solar
power with storage and wind power, the biggest grid-connected renewable energy
venture in any developing country,” said Vijay Iyer, World Bank Energy Sector
Manager for Africa. “We are optimistic that the lessons learned from these
projects will facilitate the scale-up of the renewable energy industry across
Africa.”

Government backing

The project has received strong support, both from South Africa
and other parts of the world.

In a letter to World Bank Group President, Robert Zoellick,
South African President, Jacob Zuma, stated that the energy sector in South
Africa is of “strategic national importance” and “achieving energy security
will be a critical factor for restoring economic growth, both in South Africa,
and the wider southern Africa sub-region.”

Mr. Zuma has also stated that his government is “committed to reducing the
country’s carbon footprint and broadening its energy sources in line with our
cabinet-endorsed Long-Term Mitigation Scenarios” and expressed appreciation
that the EISP includes “investments in cutting-edge, supercritical technology
being installed for the first time on the African continent as well as
substantial investments in renewable energy.”

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U.S. faults bank regulators

U.S. faults bank regulators

Regulators failed for years to properly supervise the giant
savings and loanWashington Mutual, even as the company wobbled under the weight
of risky subprime mortgages, a federal investigation has concluded.

The two agencies that oversaw Washington Mutual, the
investigation found, feuded so much that they could not even agree to deem the
company “unsafe and unsound” until Sept. 18, 2008.

By then, it was too late. A week later, amid a wave of deposit
withdrawals, the government seized the bank and sold it to JPMorgan Chase for
$1.9 billion. It was by far the largest bank failure in American history.

The report, prepared by the inspectors general for the Treasury
Department and the Federal Deposit Insurance Corporation, is expected to be
released Friday. A draft was obtained by The New York Times. The release
coincides with hearings this week by the Senate subcommittee on investigations,
which is treating Washington Mutual as a case history of the financial crisis.

Based on research conducted from March to November 2009, the
report examines the conduct of the bank’s primary regulator, the Office of
Thrift Supervision, an independent arm of the Treasury that regulates savings
associations, and the F.D.I.C., which insured the institution’s deposits.

The thrift supervision office was supposed to ensure the
company’s safety and soundness, while the F.D.I.C. was tasked with assessing
risks to its deposit insurance fund.

The report found that Washington Mutual had failed primarily
“because of management’s pursuit of a high-risk lending strategy that included
liberal underwriting standards and inadequate risk controls.” The strategy
accelerated in 2005 and came to a crashing end in 2007 with the drop in the
housing market.

But the report also levelled unexpectedly sharp criticism at the
F.D.I.C., which by July 2008 concluded that the bank needed $5 billion in
capital to withstand future potential losses. The report said the F.D.I.C.,
which had questioned the Office of Thrift Supervision’s assessments of the
bank’s soundness, could have stepped in earlier and acted as the primary
regulator, but decided “it was easier to use moral suasion to attempt to
convince the O.T.S. to change its rating.” With more than $300 billion in
assets, WaMu was the largest institution regulated by the Office of Thrift
Supervision and accounted for as much as 15 percent of its total revenue from
assessments, the report found.

Problems with quality

Although regulators found problems with the quality of the
mortgages it had originated and with the wholesale loans it bought through
outside brokers and banks, the office consistently deemed WaMu “fundamentally
sound,” giving it a rating of 2, the second-highest on a five-point scale used
to assess a bank’s condition, from 2001-7. Moreover, the office relied on
WaMu’s own tracking system to follow up on regulators’ findings.

The office did not lower the rating to 3 (“exhibits some degree
of supervisory concern”) until February 2008, and to 4 (“unsafe and unsound”)
until September 2008, days before WaMu collapsed. “It is difficult to
understand how O.T.S. continued to assign WaMu a composite 2 rating year after
year,” the report found.

O.T.S. officials said the agency had accepted the findings; the
F.D.I.C. said it could not comment until the report was completed.

The report said it would be “speculative to conclude that
earlier and more forceful enforcement action would have prevented WaMu’s
failure,” but also said such actions, if taken in 2006 or 2007, might have
pushed managers to move aggressively to correct weaknesses and stem losses.

Stiff resistance

The report said the F.D.I.C. “met resistance” from the thrift
supervisor when it assigned additional examiners to look at WaMu from 2005-8
and when it challenged the 2 rating in 2008.

In the summer of 2008, as WaMu teetered on the brink of failure,
the two regulators still could not agree. “The O.T.S. as primary regulator
wanted to rehabilitate WaMu and keep it in business,” the report states. “The
F.D.I.C., on the other hand, as an insurer wanted to resolve the institution’s
problems as soon as possible to maintain the value of WaMu in order to reduce
the cost of any failure.” The inspectors general, Eric M. Thorson of the
Treasury and Jon T. Rymer of the F.D.I.C., concluded that the F.D.I.C. should
make its own risk assessments of institutions large enough to pose significant
risk to its insurance fund.

The chairman of the House panel holding this week’s hearings,
Senator Carl Levin, Democrat of Michigan, said in a statement that he hoped the
hearings would inform the debate over changes in financial rules, which the
Senate could take up as early as this week, after its return from a spring
recess. Two former WaMu executives, Kerry K. Killinger and Stephen J. Rotella,
are expected to testify Tuesday.

“The recent financial crisis was not a natural disaster; it was
a manmade economic assault,” Mr. Levin said. “It will happen again unless we
change the rules.” The WaMu report could also influence the work of the
Financial Crisis Inquiry Commission, created by Congress to investigate the
financial disaster.

© The New York Times

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JPMorgan reports income of $3.3 billion

JPMorgan reports income of $3.3 billion

After almost two and a half years of sobering news, the head of
JPMorgan Chase raised his outlook for the rest of 2010 as first-quarter income
rose 55 percent.

Jamie Dimon, JPMorgan’s chairman and chief executive, said that
there were strong signs the economy was stabilizing as fewer borrowers fall
behind on their loans.

“While the economy still faces challenges, there have been clear
and broad-based improvements in underlying trends,” he said in a statement. “We
believe these improvements will continue and are hopeful they will gather
momentum.” Mr. Dimon’s upbeat remarks come as the bank had another strong
showing as a sharp reduction in loan loss reserves helped raise earnings. Hefty
trading profits in the investment bank once again helped offset the weaker
performance of its Chase retail banking and credit card units.

Over all, JPMorgan said its first-quarter income was $3.3
billion, or 74 cents a share. That compared with income of $2.1 billion, or 40
cents a share, a year earlier as profit surged in the months after following
the crisis. Revenue, at $28.2 billion, exceeded forecasts.

Emerging from recession

Analysts surveyed by Thomson Reuters had forecast income of 64
cents a share on revenue of $26.46 billion. As one of the first banks to report
this quarter, JPMorgan’s results could set a benchmark for the rest of the
financial industry.

Bank of America, Goldman Sachs, Morgan Stanley, and Citigroup
all report in the coming week. Investors will be looking for signs that fewer
borrowers are defaulting on their loans – and that the underlying business is
improving.

“We continued to see delinquencies stabilize, and in some cases
improve, in our credit portfolios,” Mr. Dimon said. Of course, Mr. Dimon noted,
the bank’s portfolio will track the health of the broader economy.

Even as the country emerges from a deep recession, the job
market has not yet rebounded. Demand for new loans is still weak. Meanwhile,
there are only tentative signs that home prices are nearing a bottom.

And JPMorgan’s problems are not yet over. The bank set aside
several billion dollars to cover future losses reserves – still a large sum but
a smaller amount than in prior quarters. It has now stockpiled a total of $39
billion, or roughly 5.6 percent of loans. The bank also set aside another $2.3
billion in additional litigation reserves as it deals with fierce legal fights
over faulty mortgages and a pitched battle with Washington Mutual bondholders
over that company’s remnants.

Surviving the crisis

JPMorgan has emerged from the crisis in better shape than most
of its peers, which suffered bruising losses or a devastating blow to their
reputation, or in many cases, both. Today, no bank – and no bank leader – is
showing more confidence on Wall Street or in Washington, where JPMorgan is
aggressively fending off a consumer protection agency and seeking big
exemptions from derivatives rules.

The investment bank unit posted strong trading revenue after a
first quarter rally in the fixed-income markets, though well short of the
blow-out profits during the first quarter last year. It did not fair as well in
dispensing merger advice, though that business was down across the industry.

Chase’s consumer businesses, however, are still hemorrhaging
money. And stealing a page out of the Citigroup playbook, Mr. Dimon divided his
Chase retail banking business into two segments for reporting purposes: its
existing operations, which will continue to grow; and a holding tank for its
most troubled loans.

© The New York Times

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Eurozone Nations Offer $40 Billion to Greece

Eurozone Nations Offer $40 Billion to Greece

Trying again to halt a debt crisis that has hammered the euro, fellow eurozone governments tossed struggling Greece a financial lifeline Sunday, saying they would make euro30 billion in loans available this year alone — if Athens asks for the money.

The International Monetary Fund stands ready to chip in another euro10 billion, said Olli Rehn, the EU monetary affairs chief.

The promise — filling in details of a March 25 pledge of joint eurozone-IMF help — was another attempt to calm markets that have been selling off Greek bonds in recent days.

Markets viewed the March pledge as too vague and carrying such tough restrictions that Greece could not easily get the money. As a result, investors demanded high rates to loan to the government as it struggles to avoid default — rates the government says it can’t go on paying. Greece has some euro54 billion in debt coming due this year and a huge budget deficit.

In an emergency video conference, the finance ministers of the 16-eurozone nations agreed on a complex three-year financing formula that generates an interest rate of ”around 5 percent.”

This is less than commercial market rates — which have soared above 7 percent on Greek 10-year borrowing in recent weeks as the debt crisis dragged on — but more than beneficiaries of IMF usually pay. European Central Bank president Jean-Claude Trichet and German Chancellor Angela Merkel have insisted that Greece not get below-market interest rates amounting to an EU subsidy for its past bad behavior.

”This is certainly no subsidy” to Greece, Rehn told a news conference.

The test of Sunday’s announcement will be whether it restores confidence that Greece will not default and gives it a chance to borrow normally at lower rates. Under last week’s rates, Greece would have had to pay more than twice what Germany pays.

The danger is that interest payments themselves begin to sink the budget despite severe cutbacks imposed in recent days. A Greek default would be a serious blow to the euro, rattle markets and inflict losses on European banks that have bought Greek government bonds.

Greek Finance Minister George Papaconstantinou said Greece had not asked for the plan to be activated, and still hoped to borrow on markets rather than seeking a rescue.

”The Greek government has not asked for the activation of the mechanism, even though this is already immediately available,” Papaconstantinou said in Athens. ”The aim is, and we believe we will continue to borrow unhindered on the markets.”

Officials, speaking privately, told The Associated Press they first want to see how markets react on Monday.

European Commission President Jose Manuel Barroso said the pledge of cash for Greece showed the 16 euro-zone nations will defend Europe’s single currency and help a partner in trouble.

”It shows that the euro area is serious in doing what is necessary to secure financial stability,” Barroso said in a statement.

”I am convinced that it will help Greece to continue vigorously correct public finances imbalances and to deliver the necessary structural reforms.”

Rehn said the loan deal will be ”the clarification that the markets are waiting for.”

Those markets, however, have so far ignored repeated EU claims of support for Greece causing commercial lending rates for Athens to go to 7 percent and more in recent weeks.

At two summit meetings — one in February and one in March — the EU leaders made determined noises about their readiness to end the Greek debt crisis.

But the terms were tough, with Greece needing approval of all 15 other eurozone governments and only if it could not borrow any other way. German fears a bailout with soft loans will only rile German public opinion which already takes a dim view of Greece’s financial housekeeping.

EU and IMF officials will meet Monday to work out details of IMF and EU lending for 2011 and 2012, especially on amounts and loan conditions. Officials estimated that over a three-year period Greece was being offered a total of euro80 billion in financial aid by the EU and the IMF.

Greece has been spending beyond its means for years, leaving it with a 2009 budget deficit of 12.9 percent of economic output. The revelation of its statistics fudging has slammed the euro and gutted market confidence, fueling higher borrowing costs.

Athens plans to cut its deficit to 8.7 percent this year and has launched a euro4.8 billion austerity program cutting public sector wages, freezing pensions and hiking taxes.

The New York Times

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