NVESTIGATORS probing the twin bomb blasts, which rocked Abuja on Nigeria’s Independence Day, have extended their probe to the doorsteps of a former governor, sources said on Sunday. The Nigerian Tribune was reliably informed that the investigators, including officials of the National Intelligence Agency (NIA) and the State Security Service (SSS) have continued to comb the several communication networks with the aim of isolating information that could provide further leads to the bomb blasts story.
It was gathered that the agencies have pieced together information linking a former civilian governor to the bomb blasts, while other pieces of information regarded as damaging enough are being put together.
The SSS had, last week, secured a court order, which allowed it to detain the suspects already arrested in connection with the bomb blasts, which claimed no fewer than 14 lives.
Sources said that the Special Investigation Panel, set up to coordinate the bomb blasts issue so far has been told of the alleged involvement of the former governor, based on information pieced together by the different agencies.
The source, who refused to give direct insights into the text messages, said that the operatives had been able to track loads of communications with direct links to the bomb blasts of October 1.
It was gathered that in order not to overheat the polity as a result of the investigation, the investigators will for now not make the name of the affected suspect public.
It was also gathered that the top hierarchy of the SSS were unhappy that the Director-General of the Ibrahim Babangida Campaign Organisation, Chief Raymond Dokpesi, went ahead to address a press conference on Saturday where he painted the investigation as political.
Sources close to the investigation stated that the SSS believed that Dokpesi misapplied his freedom, following the decision of the service to allow him report to its headquarters from his house daily.
Said the source: “The press conference granted by Chief Dokpesi is being counted as a step that puts the SSS in a bad light. It was like a stab in the back, because the service granted him the honour of coming for interrogation from his house. It was aimed at avoiding a situation where people would politicise the arrest and overheat the polity but he has used that advantage against the service.
Unfortunately, the SSS does not do politics; it is concerned about the security of everyone, which is an onerous task.”
It was also confirmed, on Sunday, that the agencies had collectively downloaded up to 700 pages of text messages in the ongoing investigations thus far.
A source said that all those remotely connected to the October 1 incident were being closely monitored and that interrogations would be done at every necessary stage.
Another source said on Sunday: “Based on the international concerns on the Abuja bomb blasts, the investigators have seen the need to be cautious and painstaking. They are leaving no stone unturned in the process. So far, I can confirm to you that the investigators especially from NIA and SSS; have downloaded over 700 pages of text messages. All networks are involved and they have found useful information linking the ring leaders.
“Those being investigated include a former governor. The intercepted messages have proved to be very helpful. Because the United Nations is also concerned, the investigations have been far reaching.
The security agencies are saying that this is not politics. It is a national security matter and that they are determined to get to the roots of this.”
Meanwhile, the Goodluck/Sambo Presidential Campaign Organisation has dismissed suggestions by Dr Dokpesi, that he was considered for the same position in President Goodluck Jonathan’s camp.
A statement issued by the Director of Media and Publicity of the Goodluck/Sambo Presoidential Campaign Organisation, Mr Sully Abu, said in Abuja on Sunday that the Africa Independent Television (AIT) owner was never considered for the post as he alleged in a recent interview with the media.
According to the statement, “the attention of the Goodluck/Sambo Presidential Campaign Organisation has been drawn to certain utterances by the Director General of the Babangida Campaign Organisation, Chief Raymond Dokpesi, to the effect that he was suffering an imagined political persecution because he declined to head our campaign organisation.
“Nothing could be farther from the truth. At no time was Chief Dokpesi considered for such a role. He never made it to anybody’s shortlist or long list.
“In any case, the claim defies political common sense as such a position is normally given to someone outside the geographical zone of the aspirant.”
The statement added that “Dokpesi, being from the South-South as President Jonathan, could never have been considered for such a position.”
Monday 11 October 2010
Thoughts on Nigeria at 50
THE independence celebration, if it has any significance, should be an occasion for reflecting on the time Nigerians were under servitude.
However, it becomes an event for celebration, when a nation has fared better than when she was under foreign domination.
Now, the question that comes to one’s mind, as one ruminates over the state of the nation 50 years after independence is, has the attained independence by Nigeria 50 years ago impacted on Nigerians?
The post-colonial leaders, mostly nationalists, set the nation on the path of greatness, in spite of the ethnicity problems that plagued the nation then. A leader in each region made meaningful impacts on socio-economic development. Relics of their efforts abound in various parts of the country.
Also, the incursion of the military in Nigerian polity since 1966 truncated the nation building process, because of greed, tribalism and lust for power.
A critical analysis of the post-1966 leadership shows that the mission of past leaders was the same, in spite of different guises. What were the motives of those thirsty for power, both as military or civilian? Similarly, their driving force was avarice, greed, lust for power, self-aggrandisement, etc.
Except for the brief period between 1975 and 1976, and December 1983 through August 1985, when attempts were made to bring sanity and decorum to the Nigerian polity, the story of succeeding governments was that of lost opportunities.
The misfortune the nation witnessed during military regime, manifested in political and economic stagnation in all sectors of the economy. There were also coups and couter-coups, annulment of elections, denials, killings of political opponents, etc.
The high hope Nigerians had about democratic dispensation was disillusioned early enough by greed and avarice of the ruling elite. All the vices that bedeviled the previous dispensations again reared their ugly heads.
In spite of unprecedented foreign exchange earnings accruing to the nation, the condition of an average Nigerian has not improved for the better.
Political leaders are power drunk. Political power has become an end in itself, and not a means to an end.
In all, it is the ordinary Nigerian, on whose behalf the independence was fought and won, that bears the brunt of mismanagement of the God-given human and material resources the nation is endowed with.
However, having survived socio-political upheavals like the Civil War, June 12 crisis, Niger Delta uprising, etc, and still remains a united nation, calls for celebration. But the fact that Nigeria is still contending with problems of nation building 50 years after independence, is a cause for concern. Afterall, nations that started the journey with us, which are even less endowed had left us behind in the race for development.
However, it becomes an event for celebration, when a nation has fared better than when she was under foreign domination.
Now, the question that comes to one’s mind, as one ruminates over the state of the nation 50 years after independence is, has the attained independence by Nigeria 50 years ago impacted on Nigerians?
The post-colonial leaders, mostly nationalists, set the nation on the path of greatness, in spite of the ethnicity problems that plagued the nation then. A leader in each region made meaningful impacts on socio-economic development. Relics of their efforts abound in various parts of the country.
Also, the incursion of the military in Nigerian polity since 1966 truncated the nation building process, because of greed, tribalism and lust for power.
A critical analysis of the post-1966 leadership shows that the mission of past leaders was the same, in spite of different guises. What were the motives of those thirsty for power, both as military or civilian? Similarly, their driving force was avarice, greed, lust for power, self-aggrandisement, etc.
Except for the brief period between 1975 and 1976, and December 1983 through August 1985, when attempts were made to bring sanity and decorum to the Nigerian polity, the story of succeeding governments was that of lost opportunities.
The misfortune the nation witnessed during military regime, manifested in political and economic stagnation in all sectors of the economy. There were also coups and couter-coups, annulment of elections, denials, killings of political opponents, etc.
The high hope Nigerians had about democratic dispensation was disillusioned early enough by greed and avarice of the ruling elite. All the vices that bedeviled the previous dispensations again reared their ugly heads.
In spite of unprecedented foreign exchange earnings accruing to the nation, the condition of an average Nigerian has not improved for the better.
Political leaders are power drunk. Political power has become an end in itself, and not a means to an end.
In all, it is the ordinary Nigerian, on whose behalf the independence was fought and won, that bears the brunt of mismanagement of the God-given human and material resources the nation is endowed with.
However, having survived socio-political upheavals like the Civil War, June 12 crisis, Niger Delta uprising, etc, and still remains a united nation, calls for celebration. But the fact that Nigeria is still contending with problems of nation building 50 years after independence, is a cause for concern. Afterall, nations that started the journey with us, which are even less endowed had left us behind in the race for development.
Nigeria: How Secure is the Nation?
Nigerians and indeed residents of the Federal Capital Territory, woke up on October 1, still basking in the euphoria of the nation's 50th independence anniversary celebrations that was unfolding. Many residents had no premonition that they would be confronted with two deadly bomb blasts that would kill 12 people including civilians and security operatives even as several people were also injured.
This unprecedented terrorist attack took place 500 meters away from the Eagle Square venue of the independence celebrations, where more than 15 heads of government and representatives of other world leaders were seated. President Goodluck Jonathan and his deputy, Namadi Sambo, as well as other top government functionaries were also in attendance.
The questions on everybody's lips have been: who masterminded this dastardly act against Nigeria on the very day it celebrated 50 years of nationhood? Why would anybody detonate bombs on Shehu Shagari Way, a route passed that morning by even foreign leaders who came to celebrate with Nigeria? Was it politically motivated? Was it a terrorist attack? Why now, some months to the 2011 general elections. Are there people in the presidential race with bombing antecedents that we need to watch out for? What were the security agencies doing? Questions, questions and questions.
Outraged by the killing of innocent Nigerians, President Goodluck Jonathan described the developmet as "a low, wicked and dastardly act of desperation by criminals and murderers who do not wish Nigeria well".
The explosions, which appeared to have been planted in a parked car tore to shreds about 26 vehicles parked opposite the Ministry of Justice on Shehu Shagari Way. The incident occurred between 11:15am and 12: 24pm killing about 12 people on the spot while some of the victims died in the hospitals.
"These bomb attacks are the worst anniversary gifts any nation can get," so declared Jonathan. Describing the incident as "sad and unfortunate", Jonathan said the purpose was to ensure that the celebration going on at the nearby Eagle Square was cancelled by all means.
A statement issued by presidential spokesman, Ima Niboro, expressed President Jonathan's grief and sympathy with the families of the victims of the blast, saying, "The president shares their consternation and understands their confoundment, as they mourn while the nation celebrates".
"The president wants these families to know that their loved ones have not died in vain. Rather they have paid the supreme price for our unity; and in their death, they have watered the tree of our freedom," he added.
The government assured that those behind the "vicious acts" would be found and would "pay dearly for this heinous crime". Speaking to journalists at the scene of the blasts which was littered with automobile parts, clothes worn by the victims, sandals, slippers, shoes, human parts, blood and other shrapnels, the Minister of Police Affairs, Alhaji Maina Waziri, said eight persons were confirmed dead and described the incident as an act of terrorism.
"I want to begin by thanking the Almighty for this 50th anniversary and also express my profound unhappiness with this incident that is a blight on this momentous day for all Nigerians but in this time of adversity, it is desirable of all Nigerians on this very good day to pray that these irritations that occur in this country is indeed brought to an end.
"The information I have is that there were two explosions which we can say the first explosion apparently planted in a taxi where the bomb exploded. Initial report indicate that there were no casualties, then there was another explosion within the space of ten minutes and that hurt a couple of citizens both members of the uniform cadre and civilians. The resultant effect is that about eight people are confirmed dead and 18 are injured. The casualty of both dead and the injured involve both members of the police and other security agencies as well as very innocent Nigerians," he said.
The minister further said: "I will also plead with them not to blow it out of proportion and allow the security agencies time to conduct their investigations. They should not be put under siege. They should be allowed to display the expertise for which government had spent a lot of money".
According to him, "I have done what I consider the non security interaction with members of the press. You will allow them to do their job. However, bomb blast is not a tea party, it is an act of terrorism".
Alleged MEND's Claims
Prior to the blasts, a group which claimed to be the Movement for the Emancipation of the Niger Delta Region (MEND) had issued an alert warning members of the public to avoid parked cars and dustbins. Immediately after the bombings, the same organisation said the high casualty figure should be blamed on the security agencies for failing to carry out their constitutional roles even after it had warned of the impending bomb blasts. This obviously raised the issue of preparedness of the nation's security network.
The first bomb, which had detonated at about 11: 15 am did not record any casualty. Probably because of Nigeria's lack of experience in managing crisis situations such as bomb blasts, stunned passers-by and security operatives massed around the site of the first blast when the second one exploded killing more than 12 persons.
There were also conflicting reports about another bomb which was poorly detonated inside the Eagle Square while some claimed it was accidental discharge which allegedly felled two mobile policemen. But the police said there was no such explosion inside the Eagle Square.
After the incident, the South African authorities promptly arrested Henry Okah, an alleged leader of the group. He had previously been questioned by the South African police and has since appeared in a South African court in connection with the bomb blasts.
Intelligence Alert/Failure of Security?
Did the nation's security agencies receive intelligence alert before the twin bombings? If they did, what did they do with it? At a news conference in Abuja, Assistant Director, Public Relations of the State Security Service (SSS), Marilyn Ogar, did confirm that the service received intelligence information before the blast.
According to her, the bombing was planned for Wednesday September 29, 2010 but was foiled as soon as the information was received during the early hours of September 28. The overriding objective of the group, she said, was to scare foreign visitors from attending the 50th anniversary celebration.
According to her, about 0130 hours on Tuesday, September 28, information was received that the three arms zone (Presidential Villa, National Assembly and the Supreme Court) was to be bombed and six vehicles had already being prepared for the purpose. At this point, she said, the service contacted the military which provided three towing trucks which were added to that of the service thus kick-starting a joint operation. During the joint operation, a total of nine abandoned vehicles were towed away.
"Of these, two were near the SSS headquarters, two facing the villa gate and the National Assembly and two close to police headquarters while one was stationed at the Eagle Square and two at the Apo Legislative Quarters. They were all towed away", she said.
Relevant Links
* West Africa
* Nigeria
* Terrorism
* Conflict
Following the development, the Federal Road Safety Commission (FRSC) and the Vehicle Inspection Office (VIO) were co-opted into the operations to move around the capital towing away abandoned vehicles. The measure, she said, lasted till the morning of October 1, during which 65 abandoned vehicles were removed.
"It is worthy of note that out of the seven vehicles removed from the three arms zone, four are yet to be collected", she said.
According to her, when the plan A failed, they resorted to the penetration of the Eagle Square in an attempt to plant explosive devices but was countered by hi-tech equipment in and around the Eagle Square which jammed the detonation of any such explosives.
On October 1, she said, Eagle Square and surrounding areas were cordorned off and appropriate measures put in place while joint efforts by the security agencies were put in place.
"However, the rain showers of that morning provided the leeway for double parking by motorists. In the process, the perpetrators apparently gained access to park on the road side as well," she said."We got the information. After the 9/11 incidents in the US, it dawned on all nations that no singular nation can go it alone when it comes to security issue so there was enhanced collaboration with each nation so we share intelligence and information at that level so definitely we had advanced information that Nigeria was going to come under some form of attack.
"After the 9/11 terrorist bombings in the United States, we share intelligence. Intelligence is no longer the exclusive preserve of any nation. If you assess other people's country and you keep quiet when it is about to affect your country, the other people who have such information will keep quiet. We share intelligence with other foreign nationals concerning our own internal security", she said.
Inter-agency Collaboration
The issue of inter-agency collaboration was also an issue in carrying out investigations by security agencies. Recently, President Jonathan berated security agencies for running parallel investigations and making claims of superiority against each other.
"Our security agencies need to work in harmony to craft effective strategies for containing these challenges. Unfortunately, the glaring disconnect and lack of synergy as well as claims and counter claims over superiority among security agencies have diminished the effectiveness of government's efforts towards combating crime in the society", he said.
The lack of synergy between the security agencies also played out with the Police declaring two suspects wanted while the State Security Service (SSS) said it arrested nine suspects in connection with the incident whom it said had direct links with Henry Okah and other prominent Nigerians.
The SSS spokesperson had said in response to a question raised on the issue of collaboration that: "our mode of investigation is totally different from that of the police. Like I said, I would not know whether the two suspects the police is declaring wanted are on our list. With the ongoing investigations, I might not want to reveal the status of the suspects in our custody".
Henry Okah's Claims/Political Warfare
As expected, Henry Okah's claims in an interview with Al-Jazeera Television that a presidential aide called him to implicate northern politicians in the bomb blasts has generated a lot of controversy.
"On Saturday morning, just a day after the attack, a very close associate of President Jonathan called me and explained to me that there had been a bombing in Nigeria and that President Jonathan wanted me to reach out to the group, MEND and get them to retract the earlier statement they had issued claiming the attacks.
"They wanted me to blame the attack on Northerners who are trying to fight against him to come back as president and if this was done, I was not going to have any problems with South African government. I declined to do this and a few hours later, I was arrested. It was based on their belief that I was going to do that that Jonathan issued a statement that MEND did not carry out the attack", he said.
Okah's claim instantly triggered a bedlam. Other presidential aspirants accused government of complicity while the Northern Political Leaders Forum went one notch further by calling on President Jonathan to resign or be impeached.
The president instantly described the claims as outright lies and asked Okah to name the official that spoke to him and further described his action as that of a "drowning man determined to pull others down with him".
A joint statement signed by the campaign groups of of Former Vice President Atiku Abubakar, Aliyu Gusau and Bukola Saraki, all presidential aspirants, said Okah's allegations were weighty and sobering and if true, required independent judicial investigation. They expressed dismay with the manner government was handling issues of national security and the respect of the rights of law abiding citizens.
Dokpesi's Arrest
As the fireworks continued, Director General of the Ibrahim Babangida Campaign Organisation, Dr. Raymond Dokpesi, was arrested by the SSS in connection with the bomb blasts. The SSS claimed that it established exchange of two text messages between the suspects in its custody and Dokpesi, one claiming to have asked them to come and collect the "balance" of an unspecified amount while the second asked them to come for a meeting at the IBB campaign office.
The IBB campaign organisation also condemned the arrest and described the trend "as the growing politics of intolerance, intimidation, coercion, persecution and harassment". Dokpesi has since been released and is expected to report back to the SSS.
Babangida's Denial
Accusing fingers were also pointed at former military President, Ibrahim Babangida, who is also in the presidential race apparently on the grounds that the first case of bomb explosion, parcel bomb, that killed renowned journalist, Dele Giwa, took place under his watch as military leader.
He said "it will be idiotic for anyone to link me to that bomb blast because I know what the unity of this country means and that was why we fought to keep it together. So why should I get involved in such a mess?
"Naturally, when things like this happen, people will cast their imaginative and fertile minds into action and as we all know, Nigerians have very fertile minds but this is the price we pay for the love of our country and as politicians."
The former military president, who spoke in Minna, blamed the bomb blasts on lapses on the part of securitymen, adding that the security forces were given prior notice before the disaster yet nothing was done to avert the situation.
Politicisation of National Tragedy
True to character, Nigerian politicians especially the presidential aspirants had maximally exploited the situation by making huge political capital out of a national tragedy. The Adamu Ciroma led-Northern Elders' position on the matter had been roundly condemned as hasty and capable of inflaming passions as the natural position would have been to call for an inquiry instead of calling for the resignation or impeachment of the President.
President Jonathan has also reiterated his administration's resolve to get to the route of the matter and called the bluff of those using blackmail tactics to intimidate his government. "Blackmail and intimidation will not stop the Federal Government from doing the right thing. Whoever is found culpable will face the full weight of the law. We would be failing the past, present and future generations of Nigerians if we do not get to the root of this dastardly act and seek justice the way it should be done in a civilised society such as ours," the president said.
Relevant Links
* West Africa
* Nigeria
* Terrorism
* Conflict
He said further: "Dear friends, if the aim of the attackers is to create a sense of insecurity and panic across the nation in order to advance their narrow interests, Nigerians will stand up to them and make it clear that they cannot be intimidated."
From all indications, there is the need for caution by all parties to this debacle. The situation has also called to question the refusal by government to equip security agencies with the state- of- the- art technology as regards bombings and kidnappings.
When will Nigeria embrace forensic investigation? When will the Police bomb detection and disposal units be adequately equipped to work efficiently and effectively? When will CCTVs be installed in the nation's capital like other parts of the world? When will security agencies work in harmony and act fast on intelligence reports and most importantly, when will Nigerian politicians stop playing politics with the lives of innocent Nigerians? These are the questions begging for answers from the political class in and out of government
This unprecedented terrorist attack took place 500 meters away from the Eagle Square venue of the independence celebrations, where more than 15 heads of government and representatives of other world leaders were seated. President Goodluck Jonathan and his deputy, Namadi Sambo, as well as other top government functionaries were also in attendance.
The questions on everybody's lips have been: who masterminded this dastardly act against Nigeria on the very day it celebrated 50 years of nationhood? Why would anybody detonate bombs on Shehu Shagari Way, a route passed that morning by even foreign leaders who came to celebrate with Nigeria? Was it politically motivated? Was it a terrorist attack? Why now, some months to the 2011 general elections. Are there people in the presidential race with bombing antecedents that we need to watch out for? What were the security agencies doing? Questions, questions and questions.
Outraged by the killing of innocent Nigerians, President Goodluck Jonathan described the developmet as "a low, wicked and dastardly act of desperation by criminals and murderers who do not wish Nigeria well".
The explosions, which appeared to have been planted in a parked car tore to shreds about 26 vehicles parked opposite the Ministry of Justice on Shehu Shagari Way. The incident occurred between 11:15am and 12: 24pm killing about 12 people on the spot while some of the victims died in the hospitals.
"These bomb attacks are the worst anniversary gifts any nation can get," so declared Jonathan. Describing the incident as "sad and unfortunate", Jonathan said the purpose was to ensure that the celebration going on at the nearby Eagle Square was cancelled by all means.
A statement issued by presidential spokesman, Ima Niboro, expressed President Jonathan's grief and sympathy with the families of the victims of the blast, saying, "The president shares their consternation and understands their confoundment, as they mourn while the nation celebrates".
"The president wants these families to know that their loved ones have not died in vain. Rather they have paid the supreme price for our unity; and in their death, they have watered the tree of our freedom," he added.
The government assured that those behind the "vicious acts" would be found and would "pay dearly for this heinous crime". Speaking to journalists at the scene of the blasts which was littered with automobile parts, clothes worn by the victims, sandals, slippers, shoes, human parts, blood and other shrapnels, the Minister of Police Affairs, Alhaji Maina Waziri, said eight persons were confirmed dead and described the incident as an act of terrorism.
"I want to begin by thanking the Almighty for this 50th anniversary and also express my profound unhappiness with this incident that is a blight on this momentous day for all Nigerians but in this time of adversity, it is desirable of all Nigerians on this very good day to pray that these irritations that occur in this country is indeed brought to an end.
"The information I have is that there were two explosions which we can say the first explosion apparently planted in a taxi where the bomb exploded. Initial report indicate that there were no casualties, then there was another explosion within the space of ten minutes and that hurt a couple of citizens both members of the uniform cadre and civilians. The resultant effect is that about eight people are confirmed dead and 18 are injured. The casualty of both dead and the injured involve both members of the police and other security agencies as well as very innocent Nigerians," he said.
The minister further said: "I will also plead with them not to blow it out of proportion and allow the security agencies time to conduct their investigations. They should not be put under siege. They should be allowed to display the expertise for which government had spent a lot of money".
According to him, "I have done what I consider the non security interaction with members of the press. You will allow them to do their job. However, bomb blast is not a tea party, it is an act of terrorism".
Alleged MEND's Claims
Prior to the blasts, a group which claimed to be the Movement for the Emancipation of the Niger Delta Region (MEND) had issued an alert warning members of the public to avoid parked cars and dustbins. Immediately after the bombings, the same organisation said the high casualty figure should be blamed on the security agencies for failing to carry out their constitutional roles even after it had warned of the impending bomb blasts. This obviously raised the issue of preparedness of the nation's security network.
The first bomb, which had detonated at about 11: 15 am did not record any casualty. Probably because of Nigeria's lack of experience in managing crisis situations such as bomb blasts, stunned passers-by and security operatives massed around the site of the first blast when the second one exploded killing more than 12 persons.
There were also conflicting reports about another bomb which was poorly detonated inside the Eagle Square while some claimed it was accidental discharge which allegedly felled two mobile policemen. But the police said there was no such explosion inside the Eagle Square.
After the incident, the South African authorities promptly arrested Henry Okah, an alleged leader of the group. He had previously been questioned by the South African police and has since appeared in a South African court in connection with the bomb blasts.
Intelligence Alert/Failure of Security?
Did the nation's security agencies receive intelligence alert before the twin bombings? If they did, what did they do with it? At a news conference in Abuja, Assistant Director, Public Relations of the State Security Service (SSS), Marilyn Ogar, did confirm that the service received intelligence information before the blast.
According to her, the bombing was planned for Wednesday September 29, 2010 but was foiled as soon as the information was received during the early hours of September 28. The overriding objective of the group, she said, was to scare foreign visitors from attending the 50th anniversary celebration.
According to her, about 0130 hours on Tuesday, September 28, information was received that the three arms zone (Presidential Villa, National Assembly and the Supreme Court) was to be bombed and six vehicles had already being prepared for the purpose. At this point, she said, the service contacted the military which provided three towing trucks which were added to that of the service thus kick-starting a joint operation. During the joint operation, a total of nine abandoned vehicles were towed away.
"Of these, two were near the SSS headquarters, two facing the villa gate and the National Assembly and two close to police headquarters while one was stationed at the Eagle Square and two at the Apo Legislative Quarters. They were all towed away", she said.
Relevant Links
* West Africa
* Nigeria
* Terrorism
* Conflict
Following the development, the Federal Road Safety Commission (FRSC) and the Vehicle Inspection Office (VIO) were co-opted into the operations to move around the capital towing away abandoned vehicles. The measure, she said, lasted till the morning of October 1, during which 65 abandoned vehicles were removed.
"It is worthy of note that out of the seven vehicles removed from the three arms zone, four are yet to be collected", she said.
According to her, when the plan A failed, they resorted to the penetration of the Eagle Square in an attempt to plant explosive devices but was countered by hi-tech equipment in and around the Eagle Square which jammed the detonation of any such explosives.
On October 1, she said, Eagle Square and surrounding areas were cordorned off and appropriate measures put in place while joint efforts by the security agencies were put in place.
"However, the rain showers of that morning provided the leeway for double parking by motorists. In the process, the perpetrators apparently gained access to park on the road side as well," she said."We got the information. After the 9/11 incidents in the US, it dawned on all nations that no singular nation can go it alone when it comes to security issue so there was enhanced collaboration with each nation so we share intelligence and information at that level so definitely we had advanced information that Nigeria was going to come under some form of attack.
"After the 9/11 terrorist bombings in the United States, we share intelligence. Intelligence is no longer the exclusive preserve of any nation. If you assess other people's country and you keep quiet when it is about to affect your country, the other people who have such information will keep quiet. We share intelligence with other foreign nationals concerning our own internal security", she said.
Inter-agency Collaboration
The issue of inter-agency collaboration was also an issue in carrying out investigations by security agencies. Recently, President Jonathan berated security agencies for running parallel investigations and making claims of superiority against each other.
"Our security agencies need to work in harmony to craft effective strategies for containing these challenges. Unfortunately, the glaring disconnect and lack of synergy as well as claims and counter claims over superiority among security agencies have diminished the effectiveness of government's efforts towards combating crime in the society", he said.
The lack of synergy between the security agencies also played out with the Police declaring two suspects wanted while the State Security Service (SSS) said it arrested nine suspects in connection with the incident whom it said had direct links with Henry Okah and other prominent Nigerians.
The SSS spokesperson had said in response to a question raised on the issue of collaboration that: "our mode of investigation is totally different from that of the police. Like I said, I would not know whether the two suspects the police is declaring wanted are on our list. With the ongoing investigations, I might not want to reveal the status of the suspects in our custody".
Henry Okah's Claims/Political Warfare
As expected, Henry Okah's claims in an interview with Al-Jazeera Television that a presidential aide called him to implicate northern politicians in the bomb blasts has generated a lot of controversy.
"On Saturday morning, just a day after the attack, a very close associate of President Jonathan called me and explained to me that there had been a bombing in Nigeria and that President Jonathan wanted me to reach out to the group, MEND and get them to retract the earlier statement they had issued claiming the attacks.
"They wanted me to blame the attack on Northerners who are trying to fight against him to come back as president and if this was done, I was not going to have any problems with South African government. I declined to do this and a few hours later, I was arrested. It was based on their belief that I was going to do that that Jonathan issued a statement that MEND did not carry out the attack", he said.
Okah's claim instantly triggered a bedlam. Other presidential aspirants accused government of complicity while the Northern Political Leaders Forum went one notch further by calling on President Jonathan to resign or be impeached.
The president instantly described the claims as outright lies and asked Okah to name the official that spoke to him and further described his action as that of a "drowning man determined to pull others down with him".
A joint statement signed by the campaign groups of of Former Vice President Atiku Abubakar, Aliyu Gusau and Bukola Saraki, all presidential aspirants, said Okah's allegations were weighty and sobering and if true, required independent judicial investigation. They expressed dismay with the manner government was handling issues of national security and the respect of the rights of law abiding citizens.
Dokpesi's Arrest
As the fireworks continued, Director General of the Ibrahim Babangida Campaign Organisation, Dr. Raymond Dokpesi, was arrested by the SSS in connection with the bomb blasts. The SSS claimed that it established exchange of two text messages between the suspects in its custody and Dokpesi, one claiming to have asked them to come and collect the "balance" of an unspecified amount while the second asked them to come for a meeting at the IBB campaign office.
The IBB campaign organisation also condemned the arrest and described the trend "as the growing politics of intolerance, intimidation, coercion, persecution and harassment". Dokpesi has since been released and is expected to report back to the SSS.
Babangida's Denial
Accusing fingers were also pointed at former military President, Ibrahim Babangida, who is also in the presidential race apparently on the grounds that the first case of bomb explosion, parcel bomb, that killed renowned journalist, Dele Giwa, took place under his watch as military leader.
He said "it will be idiotic for anyone to link me to that bomb blast because I know what the unity of this country means and that was why we fought to keep it together. So why should I get involved in such a mess?
"Naturally, when things like this happen, people will cast their imaginative and fertile minds into action and as we all know, Nigerians have very fertile minds but this is the price we pay for the love of our country and as politicians."
The former military president, who spoke in Minna, blamed the bomb blasts on lapses on the part of securitymen, adding that the security forces were given prior notice before the disaster yet nothing was done to avert the situation.
Politicisation of National Tragedy
True to character, Nigerian politicians especially the presidential aspirants had maximally exploited the situation by making huge political capital out of a national tragedy. The Adamu Ciroma led-Northern Elders' position on the matter had been roundly condemned as hasty and capable of inflaming passions as the natural position would have been to call for an inquiry instead of calling for the resignation or impeachment of the President.
President Jonathan has also reiterated his administration's resolve to get to the route of the matter and called the bluff of those using blackmail tactics to intimidate his government. "Blackmail and intimidation will not stop the Federal Government from doing the right thing. Whoever is found culpable will face the full weight of the law. We would be failing the past, present and future generations of Nigerians if we do not get to the root of this dastardly act and seek justice the way it should be done in a civilised society such as ours," the president said.
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He said further: "Dear friends, if the aim of the attackers is to create a sense of insecurity and panic across the nation in order to advance their narrow interests, Nigerians will stand up to them and make it clear that they cannot be intimidated."
From all indications, there is the need for caution by all parties to this debacle. The situation has also called to question the refusal by government to equip security agencies with the state- of- the- art technology as regards bombings and kidnappings.
When will Nigeria embrace forensic investigation? When will the Police bomb detection and disposal units be adequately equipped to work efficiently and effectively? When will CCTVs be installed in the nation's capital like other parts of the world? When will security agencies work in harmony and act fast on intelligence reports and most importantly, when will Nigerian politicians stop playing politics with the lives of innocent Nigerians? These are the questions begging for answers from the political class in and out of government
More bank directors ’ll be jailed –Sanusi •Nigeria is world’s 3rd fastest growing economy – IMF
GOVERNOR of Central Bank of Nigeria (CBN), Mallam Lamido Sanusi, has vowed that fraudulent directors of banks operating in Nigeria will go to jail. Sanusi said this after he was presented with an award in the United States of America by Euromoney Institutional Investor Plc as an outstanding Central Bank Governor in sub-Sahara Africa in the Emerging Market.
The move is designed to sanitise the Nigerian banking industry of corrupt practices and encourage inflow of foreign direct investment (FDI) into the Nigerian economy.
Former Chief Executive Officer of Oceanic Bank International Plc, Dr (Mrs) Cecilia Ibru, sacked by the CBN last year after an indictment by the joint audit report of the apex bank and the Nigeria Deposit Insurance Corporation (NDIC), was sentenced to six months imprisonment on Friday by a federal high court in Lagos.
In the ruling of the court, she forfeited assets worth N191 billion after pleading guilty to a three-count charge of misappropriation of depositors’ fund.
Sanusi disclosed on Saturday in Washington DC, that the CBN had enough evidence to jail fraudulent bank directors that mismanaged depositors fund. According to him, “I know what I saw in the report of weak banks investigated by our auditors from the first day and have no doubt these people would go to jail. I have no doubt that everybody we are trying will go to jail.”
Sanusi explained that the sanitisation of the banking industry was not about individuals as the CBN continued with the legal process but was designed to ensure the safety of depositors’ fund.
He said: “A year ago, when we removed Mrs Ibru, the story was that it was not possible and that it would not last. When we started the trial, the story was that in Nigeria, it is not possible to jail a CEO.
The time that people who were rich and were connected would go free when they committed offence is now a thing of the past.”
Sanusi vowed that if any of the directors of banks in Nigeria should commit any offence, they will pay the price for it, no matter the level of connection and political influence. “For the fact that Mrs Ibru today is convicted is a big lesson for the elite, the rich and the powerful people in Nigeria. It is not perfect, it is not ideal but maybe I would have wanted more but in the circumstance, the Justice Ministry has done very well and the minister must be commended for holding firm on the trial,” he said.
“I think it is a good thing for the country. It has shown that the way people think, that maybe because somebody is my friend or from one part of the country, will make them go free if they are caught, will no longer happen,” he added.
Meanwhile, the International Monetary Fund (IMF) has announced that Nigeria is the third fastest growing economy in the world after China and India, as a result of the growth of the nation’s economy from 6.9 per cent in 2009 to 7.4 per cent this year.
The Minister of Finance, Dr Olusegun Aganga, who described this rating by IMF as a good development at a time when the economies of the developed countries were contracting, said with new policies being initiated by the Federal Government, the economy would witness a turnaround in a very short time.
“What we need in Nigeria is continuity in policies and leadership to sustain the growth,” he advocated.
Speaking at a joint press conference with Sanusi at the World Bank/IMF meetings in Washington DC, Aganga said the economic prospect was bright because despite the fact that Nigeria was yet to take advantage of opportunities and resources available within the country, it achieved 7.4 per cent growth and 48 per cent increase in revenue in the first half of the year.
Among the advantages he identified were existence of 33 untapped solid minerals, steady increase in the oil revenue and 75 million telecommunic-ations subscribers.
“If we have continuity in policy, a lot will be done in the economy and we will do more as shown with the increase in oil revenue by 46 per cent during the first six months of 2010,” he said.
However, Dr Aganga said “the Federal Government requires N100 billion to finance infrastructure development for the next four years in order to add two per cent to the gross domestic product (GDP) of Nigeria.”
He made reference to the state of the manufacturing sector, where operators put 40 per cent of cost on power generation, saying, if infrastructure in Lagos and other places were upgraded, there would be a major relief across the country.
“This could be our decade. I am more excited about the country today than few years back,” Aganga said.
The finance minister, who also is the chairman of World Bank 2010 annual meeting, confirmed his push for Africa to emerge as the president of World Bank and Managing Director of the IMF.
“Of course and it is clear that since 1946, the president of the World Bank has always been from America and the MD of IMF is always from Europe . We are all in agreement that it should change. The appointment to leadership positions should be open to all members, transparent and based on merit going forward. That is part of the reform.”
He added that he had been making the case to increase the quota of the constituency in Africa.
“Whatever we come out with, it is better that we protect the quota of low-income countries in Africa and small medium countries. That is important because it determines the aids to get and the voice in policy issues,” he assured.
Meanwhile, the CBN has raised concerns over the rate Nigeria’s foreign reserves is depleting, saying that plans are underway to slow the pace of spending from the reserves to defend the naira.
Sanusi told newsmen at the sidelines of the IMF and World Bank meeting, at the weekend, adding that the apex bank must make sure the Federal Government did not have access to “easy money” to continue its deficit spending habits.
A series of factors that had been driving the CBN to draw down its forex reserves in defense of the naira were winding down, as the bank reported that its forex reserves were down by 15 per cent from a year earlier at about $34.57 billion, including a seven percent decline in the last few weeks.
“I think we’ll see less spending, but I think the naira will remain stable,” Sanusi said.
The naira slid to a 13-month low in September amid strong local demand for the United States dollar by gasoline and rice importers.
Sanusi said the current exchange rate was not a level that needed to be maintained “at all costs,” adding that “in the short to medium term, we do believe we can maintain this range.”
It will be recalled that the CBN surprised analysts and investors, last month, by raising its benchmark interest rate by a quarter of a percentage point to 6.25 per cent.
The move is designed to sanitise the Nigerian banking industry of corrupt practices and encourage inflow of foreign direct investment (FDI) into the Nigerian economy.
Former Chief Executive Officer of Oceanic Bank International Plc, Dr (Mrs) Cecilia Ibru, sacked by the CBN last year after an indictment by the joint audit report of the apex bank and the Nigeria Deposit Insurance Corporation (NDIC), was sentenced to six months imprisonment on Friday by a federal high court in Lagos.
In the ruling of the court, she forfeited assets worth N191 billion after pleading guilty to a three-count charge of misappropriation of depositors’ fund.
Sanusi disclosed on Saturday in Washington DC, that the CBN had enough evidence to jail fraudulent bank directors that mismanaged depositors fund. According to him, “I know what I saw in the report of weak banks investigated by our auditors from the first day and have no doubt these people would go to jail. I have no doubt that everybody we are trying will go to jail.”
Sanusi explained that the sanitisation of the banking industry was not about individuals as the CBN continued with the legal process but was designed to ensure the safety of depositors’ fund.
He said: “A year ago, when we removed Mrs Ibru, the story was that it was not possible and that it would not last. When we started the trial, the story was that in Nigeria, it is not possible to jail a CEO.
The time that people who were rich and were connected would go free when they committed offence is now a thing of the past.”
Sanusi vowed that if any of the directors of banks in Nigeria should commit any offence, they will pay the price for it, no matter the level of connection and political influence. “For the fact that Mrs Ibru today is convicted is a big lesson for the elite, the rich and the powerful people in Nigeria. It is not perfect, it is not ideal but maybe I would have wanted more but in the circumstance, the Justice Ministry has done very well and the minister must be commended for holding firm on the trial,” he said.
“I think it is a good thing for the country. It has shown that the way people think, that maybe because somebody is my friend or from one part of the country, will make them go free if they are caught, will no longer happen,” he added.
Meanwhile, the International Monetary Fund (IMF) has announced that Nigeria is the third fastest growing economy in the world after China and India, as a result of the growth of the nation’s economy from 6.9 per cent in 2009 to 7.4 per cent this year.
The Minister of Finance, Dr Olusegun Aganga, who described this rating by IMF as a good development at a time when the economies of the developed countries were contracting, said with new policies being initiated by the Federal Government, the economy would witness a turnaround in a very short time.
“What we need in Nigeria is continuity in policies and leadership to sustain the growth,” he advocated.
Speaking at a joint press conference with Sanusi at the World Bank/IMF meetings in Washington DC, Aganga said the economic prospect was bright because despite the fact that Nigeria was yet to take advantage of opportunities and resources available within the country, it achieved 7.4 per cent growth and 48 per cent increase in revenue in the first half of the year.
Among the advantages he identified were existence of 33 untapped solid minerals, steady increase in the oil revenue and 75 million telecommunic-ations subscribers.
“If we have continuity in policy, a lot will be done in the economy and we will do more as shown with the increase in oil revenue by 46 per cent during the first six months of 2010,” he said.
However, Dr Aganga said “the Federal Government requires N100 billion to finance infrastructure development for the next four years in order to add two per cent to the gross domestic product (GDP) of Nigeria.”
He made reference to the state of the manufacturing sector, where operators put 40 per cent of cost on power generation, saying, if infrastructure in Lagos and other places were upgraded, there would be a major relief across the country.
“This could be our decade. I am more excited about the country today than few years back,” Aganga said.
The finance minister, who also is the chairman of World Bank 2010 annual meeting, confirmed his push for Africa to emerge as the president of World Bank and Managing Director of the IMF.
“Of course and it is clear that since 1946, the president of the World Bank has always been from America and the MD of IMF is always from Europe . We are all in agreement that it should change. The appointment to leadership positions should be open to all members, transparent and based on merit going forward. That is part of the reform.”
He added that he had been making the case to increase the quota of the constituency in Africa.
“Whatever we come out with, it is better that we protect the quota of low-income countries in Africa and small medium countries. That is important because it determines the aids to get and the voice in policy issues,” he assured.
Meanwhile, the CBN has raised concerns over the rate Nigeria’s foreign reserves is depleting, saying that plans are underway to slow the pace of spending from the reserves to defend the naira.
Sanusi told newsmen at the sidelines of the IMF and World Bank meeting, at the weekend, adding that the apex bank must make sure the Federal Government did not have access to “easy money” to continue its deficit spending habits.
A series of factors that had been driving the CBN to draw down its forex reserves in defense of the naira were winding down, as the bank reported that its forex reserves were down by 15 per cent from a year earlier at about $34.57 billion, including a seven percent decline in the last few weeks.
“I think we’ll see less spending, but I think the naira will remain stable,” Sanusi said.
The naira slid to a 13-month low in September amid strong local demand for the United States dollar by gasoline and rice importers.
Sanusi said the current exchange rate was not a level that needed to be maintained “at all costs,” adding that “in the short to medium term, we do believe we can maintain this range.”
It will be recalled that the CBN surprised analysts and investors, last month, by raising its benchmark interest rate by a quarter of a percentage point to 6.25 per cent.
More bank directors ’ll be jailed –Sanusi •Nigeria is world’s 3rd fastest growing economy – IMF
GOVERNOR of Central Bank of Nigeria (CBN), Mallam Lamido Sanusi, has vowed that fraudulent directors of banks operating in Nigeria will go to jail. Sanusi said this after he was presented with an award in the United States of America by Euromoney Institutional Investor Plc as an outstanding Central Bank Governor in sub-Sahara Africa in the Emerging Market.
The move is designed to sanitise the Nigerian banking industry of corrupt practices and encourage inflow of foreign direct investment (FDI) into the Nigerian economy.
Former Chief Executive Officer of Oceanic Bank International Plc, Dr (Mrs) Cecilia Ibru, sacked by the CBN last year after an indictment by the joint audit report of the apex bank and the Nigeria Deposit Insurance Corporation (NDIC), was sentenced to six months imprisonment on Friday by a federal high court in Lagos.
In the ruling of the court, she forfeited assets worth N191 billion after pleading guilty to a three-count charge of misappropriation of depositors’ fund.
Sanusi disclosed on Saturday in Washington DC, that the CBN had enough evidence to jail fraudulent bank directors that mismanaged depositors fund. According to him, “I know what I saw in the report of weak banks investigated by our auditors from the first day and have no doubt these people would go to jail. I have no doubt that everybody we are trying will go to jail.”
Sanusi explained that the sanitisation of the banking industry was not about individuals as the CBN continued with the legal process but was designed to ensure the safety of depositors’ fund.
He said: “A year ago, when we removed Mrs Ibru, the story was that it was not possible and that it would not last. When we started the trial, the story was that in Nigeria, it is not possible to jail a CEO.
The time that people who were rich and were connected would go free when they committed offence is now a thing of the past.”
Sanusi vowed that if any of the directors of banks in Nigeria should commit any offence, they will pay the price for it, no matter the level of connection and political influence. “For the fact that Mrs Ibru today is convicted is a big lesson for the elite, the rich and the powerful people in Nigeria. It is not perfect, it is not ideal but maybe I would have wanted more but in the circumstance, the Justice Ministry has done very well and the minister must be commended for holding firm on the trial,” he said.
“I think it is a good thing for the country. It has shown that the way people think, that maybe because somebody is my friend or from one part of the country, will make them go free if they are caught, will no longer happen,” he added.
Meanwhile, the International Monetary Fund (IMF) has announced that Nigeria is the third fastest growing economy in the world after China and India, as a result of the growth of the nation’s economy from 6.9 per cent in 2009 to 7.4 per cent this year.
The Minister of Finance, Dr Olusegun Aganga, who described this rating by IMF as a good development at a time when the economies of the developed countries were contracting, said with new policies being initiated by the Federal Government, the economy would witness a turnaround in a very short time.
“What we need in Nigeria is continuity in policies and leadership to sustain the growth,” he advocated.
Speaking at a joint press conference with Sanusi at the World Bank/IMF meetings in Washington DC, Aganga said the economic prospect was bright because despite the fact that Nigeria was yet to take advantage of opportunities and resources available within the country, it achieved 7.4 per cent growth and 48 per cent increase in revenue in the first half of the year.
Among the advantages he identified were existence of 33 untapped solid minerals, steady increase in the oil revenue and 75 million telecommunic-ations subscribers.
“If we have continuity in policy, a lot will be done in the economy and we will do more as shown with the increase in oil revenue by 46 per cent during the first six months of 2010,” he said.
However, Dr Aganga said “the Federal Government requires N100 billion to finance infrastructure development for the next four years in order to add two per cent to the gross domestic product (GDP) of Nigeria.”
He made reference to the state of the manufacturing sector, where operators put 40 per cent of cost on power generation, saying, if infrastructure in Lagos and other places were upgraded, there would be a major relief across the country.
“This could be our decade. I am more excited about the country today than few years back,” Aganga said.
The finance minister, who also is the chairman of World Bank 2010 annual meeting, confirmed his push for Africa to emerge as the president of World Bank and Managing Director of the IMF.
“Of course and it is clear that since 1946, the president of the World Bank has always been from America and the MD of IMF is always from Europe . We are all in agreement that it should change. The appointment to leadership positions should be open to all members, transparent and based on merit going forward. That is part of the reform.”
He added that he had been making the case to increase the quota of the constituency in Africa.
“Whatever we come out with, it is better that we protect the quota of low-income countries in Africa and small medium countries. That is important because it determines the aids to get and the voice in policy issues,” he assured.
Meanwhile, the CBN has raised concerns over the rate Nigeria’s foreign reserves is depleting, saying that plans are underway to slow the pace of spending from the reserves to defend the naira.
Sanusi told newsmen at the sidelines of the IMF and World Bank meeting, at the weekend, adding that the apex bank must make sure the Federal Government did not have access to “easy money” to continue its deficit spending habits.
A series of factors that had been driving the CBN to draw down its forex reserves in defense of the naira were winding down, as the bank reported that its forex reserves were down by 15 per cent from a year earlier at about $34.57 billion, including a seven percent decline in the last few weeks.
“I think we’ll see less spending, but I think the naira will remain stable,” Sanusi said.
The naira slid to a 13-month low in September amid strong local demand for the United States dollar by gasoline and rice importers.
Sanusi said the current exchange rate was not a level that needed to be maintained “at all costs,” adding that “in the short to medium term, we do believe we can maintain this range.”
It will be recalled that the CBN surprised analysts and investors, last month, by raising its benchmark interest rate by a quarter of a percentage point to 6.25 per cent.
The move is designed to sanitise the Nigerian banking industry of corrupt practices and encourage inflow of foreign direct investment (FDI) into the Nigerian economy.
Former Chief Executive Officer of Oceanic Bank International Plc, Dr (Mrs) Cecilia Ibru, sacked by the CBN last year after an indictment by the joint audit report of the apex bank and the Nigeria Deposit Insurance Corporation (NDIC), was sentenced to six months imprisonment on Friday by a federal high court in Lagos.
In the ruling of the court, she forfeited assets worth N191 billion after pleading guilty to a three-count charge of misappropriation of depositors’ fund.
Sanusi disclosed on Saturday in Washington DC, that the CBN had enough evidence to jail fraudulent bank directors that mismanaged depositors fund. According to him, “I know what I saw in the report of weak banks investigated by our auditors from the first day and have no doubt these people would go to jail. I have no doubt that everybody we are trying will go to jail.”
Sanusi explained that the sanitisation of the banking industry was not about individuals as the CBN continued with the legal process but was designed to ensure the safety of depositors’ fund.
He said: “A year ago, when we removed Mrs Ibru, the story was that it was not possible and that it would not last. When we started the trial, the story was that in Nigeria, it is not possible to jail a CEO.
The time that people who were rich and were connected would go free when they committed offence is now a thing of the past.”
Sanusi vowed that if any of the directors of banks in Nigeria should commit any offence, they will pay the price for it, no matter the level of connection and political influence. “For the fact that Mrs Ibru today is convicted is a big lesson for the elite, the rich and the powerful people in Nigeria. It is not perfect, it is not ideal but maybe I would have wanted more but in the circumstance, the Justice Ministry has done very well and the minister must be commended for holding firm on the trial,” he said.
“I think it is a good thing for the country. It has shown that the way people think, that maybe because somebody is my friend or from one part of the country, will make them go free if they are caught, will no longer happen,” he added.
Meanwhile, the International Monetary Fund (IMF) has announced that Nigeria is the third fastest growing economy in the world after China and India, as a result of the growth of the nation’s economy from 6.9 per cent in 2009 to 7.4 per cent this year.
The Minister of Finance, Dr Olusegun Aganga, who described this rating by IMF as a good development at a time when the economies of the developed countries were contracting, said with new policies being initiated by the Federal Government, the economy would witness a turnaround in a very short time.
“What we need in Nigeria is continuity in policies and leadership to sustain the growth,” he advocated.
Speaking at a joint press conference with Sanusi at the World Bank/IMF meetings in Washington DC, Aganga said the economic prospect was bright because despite the fact that Nigeria was yet to take advantage of opportunities and resources available within the country, it achieved 7.4 per cent growth and 48 per cent increase in revenue in the first half of the year.
Among the advantages he identified were existence of 33 untapped solid minerals, steady increase in the oil revenue and 75 million telecommunic-ations subscribers.
“If we have continuity in policy, a lot will be done in the economy and we will do more as shown with the increase in oil revenue by 46 per cent during the first six months of 2010,” he said.
However, Dr Aganga said “the Federal Government requires N100 billion to finance infrastructure development for the next four years in order to add two per cent to the gross domestic product (GDP) of Nigeria.”
He made reference to the state of the manufacturing sector, where operators put 40 per cent of cost on power generation, saying, if infrastructure in Lagos and other places were upgraded, there would be a major relief across the country.
“This could be our decade. I am more excited about the country today than few years back,” Aganga said.
The finance minister, who also is the chairman of World Bank 2010 annual meeting, confirmed his push for Africa to emerge as the president of World Bank and Managing Director of the IMF.
“Of course and it is clear that since 1946, the president of the World Bank has always been from America and the MD of IMF is always from Europe . We are all in agreement that it should change. The appointment to leadership positions should be open to all members, transparent and based on merit going forward. That is part of the reform.”
He added that he had been making the case to increase the quota of the constituency in Africa.
“Whatever we come out with, it is better that we protect the quota of low-income countries in Africa and small medium countries. That is important because it determines the aids to get and the voice in policy issues,” he assured.
Meanwhile, the CBN has raised concerns over the rate Nigeria’s foreign reserves is depleting, saying that plans are underway to slow the pace of spending from the reserves to defend the naira.
Sanusi told newsmen at the sidelines of the IMF and World Bank meeting, at the weekend, adding that the apex bank must make sure the Federal Government did not have access to “easy money” to continue its deficit spending habits.
A series of factors that had been driving the CBN to draw down its forex reserves in defense of the naira were winding down, as the bank reported that its forex reserves were down by 15 per cent from a year earlier at about $34.57 billion, including a seven percent decline in the last few weeks.
“I think we’ll see less spending, but I think the naira will remain stable,” Sanusi said.
The naira slid to a 13-month low in September amid strong local demand for the United States dollar by gasoline and rice importers.
Sanusi said the current exchange rate was not a level that needed to be maintained “at all costs,” adding that “in the short to medium term, we do believe we can maintain this range.”
It will be recalled that the CBN surprised analysts and investors, last month, by raising its benchmark interest rate by a quarter of a percentage point to 6.25 per cent.
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