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UNCOMMON: Nominee rejects CBN board appointment in Nigeria

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The Southeast nominee for membership of the Central Bank of Nigeria (CBN‘s) board of directors, Urum Kalu Eke, has rejected his appointment.

The Senate however confirmed the appointments of four others.

Rejection of appointment of membership of CBN board of directors by Eke from Abia state, came to the fore on Thursday during confirmation of appointments of four other nominees by the Senate.

The chairman of Senate Committee on Banking, Insurance and other Financial Institutions, Senator Adetokunbo Abiru (APC Lagos East), had in his report presentation for confirmation of the nominees by the Senate after screening exercise carried out on them, informed his colleagues that Mr Urum Kalu Eke didn’t attend the session.

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He specifically informed the Senate that four other nominees – Mr Robert Agbede, Mr Ado Yakubu Wanka, Professor Murtala Sabo Sagagi and Mrs Muslimat Olanike Aliyu, appeared before the committee for screening and convinced it of their suitability for the appointments.

He thereafter, urged the Senate to confirm the appointments of the four nominees who attended the screening session and decline that of Kalu Eke who didn’t attend the screening exercise.

But for purpose of clarity, a member of the Committee, Senator Orji Uzor Kalu (APC Abia North), quickly rose to inform the Senate that Urum Kalu Eke being one of his constituents, told him that he was declining the appointment to avoid conflict of interest.

According to Senator Kalu, Urum Eke, is a consultant to the World Bank and other international financial institutions which would make him not have the required time to function well as a CBN director.

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“Mr President, I’m a member of the committee that carried out screening on nominees forwarded to the Senate for appointment as members of Board of Directors of CBN by President Bola Tinubu”, Senator Kau said.

He added: “During the screening exercise, Urum Kalu Eke from Abia North, called me for not attending the session.

“He said as a consultant to the World Bank and other international financial institutions, he wouldn’t take the appointment to avoid conflict of interest.”

Who’s Urum Kalu Eke?
Urum Kalu Eke is a prominent figure in the Nigerian banking industry. He was born on October 17, 1966, in the town of Umuahia in Abia State, Nigeria. He obtained his Bachelor’s degree in accounting from the University of Nigeria, Nsukka, and subsequently went on to obtain a Master’s degree in business administration from the same institution.

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Career
Eke has had an illustrious career in the banking industry, spanning over three decades. He began his banking career with Diamond Bank in 1992, where he worked in various capacities, including as an executive director and deputy managing director.

In 2014, he was appointed as the Group Managing Director/CEO of Fidelity Bank Plc, one of the top 10 commercial banks in Nigeria. Under his leadership, Fidelity Bank has made significant strides in the areas of digital banking, innovation, and sustainability.

Achievements
Eke has received numerous accolades and recognitions for his contributions to the banking industry. In 2020, he was named the Bank CEO of the Year at the BusinessDay Banks and Other Financial Institutions (BOFI) Awards.

He has also been recognized by various organizations for his leadership and achievements in the banking industry, including being named as one of the Top 50 CEOs in Nigeria by BusinessDay in 2019.

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Personal Life
Eke is married with children and is known to be a private person who values his family time. He is also known for his philanthropic activities, including supporting education and healthcare initiatives in his community.

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Reps Quiz Federal Polytechnics Damaturu, Mubi, Monguno Over Infractions

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By Gloria Ikibah

The House of Representatives has queried the Federal Polytechnic Mubi, Adamawa State, Federal Polytechnic Monguno, Borno State and Federal Polytechnic Damaturu, Yobe State over series of administrative and financial infractions.
This was as Rectors and some management staff of the three institutions appeared before the house Committee on Polytechnics and other Higher Technical Education, as part of oversight function to render accounts of their budget performances.
But the Committee found various infractions in the documents presented by the three institutions which ranged from abuse of Federal Character in employment, Extra-Budgetary spendings and recurring abandoned, uncompleted  projects in one of the institutions.
During presentation by the Rector of Federal Polytechnic Mubi, Dr.  Abdulrahman Ishaku, the Committee discovered that projects that were to be completed in two to three years were not finished despite adequate release of funds in budget.
Specifically, the Committee was provoked by the non-completion of a staff quarters and an administrative block project by the institution for years.
Speaking, Rep. Emil Inyang who stood in for the Committee Chairman, Rep. Fuad Kayode Laguda at the meeting on Thursday, lamented that, the projects have not been completed and have been recurring in the budgets.
He said, “Physical Planning, can you show me where you rolled over the project to 2023? It’s not here. Is it in 2024? Why do you come here to lie? Where is it? That admin block, is it in use? Has it been completed? So, you have abandoned it.
“Gentlemen, I don’t know what to say to these kinds of people. Construction of staff quarters, Item number Nine under 2022 capital projects. Have you seen it Rector? What is the state of that building? Is it completed? It is completed, that’s what is shown here, and you are saying it is still remaining fittings. Is fittings not part of completion?
“You people are just disgracing yourselves. We are just killing this country from various directions. From our various positions we are just killing this country. Let me ask a question on this staff quarters. In 2022, the amount appropriated was N57.9 million, N28.9 was utilized was released, so remaining N28.9 that’s half.
“But, by 2023, appropriation was 88 and the entire amount has been released. So, is it the same project?If it is the same project, when this appropriation was done, does it mean that, the other 28 that was not done, not utilised that time, is it kept somewhere?”
The Rector however informed the Committee that, the fund was later mopped up.
In his ruling after the submission, the Chairman stated, “What I will tell you now is that, instead of going through this your document that does not satisfy anything, please, you will.list all the abandoned, all the structures you have not completed. When it started, How much was appropriated, How much you have put in till date, the state of those projects one after the other in the entire school.
“Not just in. your regime. From inception till date.So that, we will include them in your 2025 budget. You will not do any new thing as capital. You must complete these abandoned. You have turned some of these projects to conduits of putting money into them and not completing them. Even the ones you have written as completed here. You used your own mouth to tell us here that, you have not installed fittings. That is what you said.
“So, this is why it is necessary for us to go there and see things for ourselves.Because what you are doing here, you are just wasting governments’ resources. These abandoned projects or the state of the jobs especially constructions, let’s have it in one week time. How much you have put in there, at what stage are they, how much you will need to complete”.
Similarly, the Committee criticized the Federal Polytechnic Damaturu over using Insecurity as an excuse for financial malfeasance and other infractions as well the abuse of Federal Character in employment.
Chairman of the Committee noted that, the institution has carelessly spent its Internally Generated Revenue (IGR) according to the records presented to the Committee.
In his presentation, the Acting Rector, Dr Ibrahim Babale Gashua said, the institution is faced with the challenge of low IGR as a result of the insecurity being faced in the state, which according to him, has reduced students intake and other activities.
He said, “We that are residing in Damaturu, the capital of Yobe State, we have three different high institutions. We have to lower our tuition fee because not everybody will come from outside the state. Even those in the state, it is only the course that is not available in their places that they come for in Damaturu because of the insurgency”.
The Committee however discovered that, despite the insurgency claim that reduced the institutions IGR, there was no commensurate reduction in its spending which the Committee said cannot be justified.
Another member of the Committee while commenting on the matter said, “Everybody comes to claim insurgency. Students don’t want to come to the schools. But it doesn’t stop them from spending the whole money.IGR, you blow it, Overhead, and yet, there is insurgency. So, it’s funny. You see, if I have a house and I am supposed to have 10 people occupying it. If 10 people are not occupying it, it means that my NEPA.payment, my PHCN money will reduce, because consumption of power supply will reduce. My water consumption will reduce. My number of cleaners will reduce because I don’t have full occupation. You understand what I am saying? My security personnel will reduce in terms of numbers.
“So, these are the issues.Most of the Polytechnics in the North come here brandishing this insecurity issue as the major reason for non performance. You are not performing on students admission, but you are performing on your expenditure profile”.
Speaking, Chairman of the Committee said, “Ok, this insurgency is a big excuse. Once you mention it, you will all close our mouths.Look at your Nominal Role, a federal Institution. Open to page 47 and 48, you will see how you have obeyed the law of the land, the Federal Character. Have you seen it Acting Rector? That’s the best you can do? You think from all those Zero-Zero states, if you offer them employment they wouldn’t come?”.
The Rector however reacted saying, “Some of them don’t come. Even those that we have left. I am telling you Sir”.
But a member of the Committee, Rep. Adebayo Adepoju faulted the Rector’s claim and said, it was not justifiable.
He said, “You cannot defend it, because if you are trying to defend it, saying that you’ve done everything in your powers and Nigerians have refused to come to your school, at that point, you say you have done the most you can do.
“But, when you did not even given Nigerians the opportunity to apply. We know what goes on in Federal Character. We know. I am telling you, if you go there and you want to apply, everybody has an interest, they give you. And before you know, they give you Certificate of Compliance.
“That Certificate of Compliance, we have shredded it so many times. Give yourself the opportunity to be fair to Nigerians.People want jobs in this country. We have so many jobless people and you will agree with me, there are many that will say, I won’t mind to go to Borno to teach.Please let’s give them an opportunity”.
The Rector and Management of the Polytechnic were directed to remedy the anomalies in their employment and henceforth advertise all vacancies in national dailies in order to give all Nigerians equal opportunity.
Similarly, after a presentation by the Rector, Federal Polytechnic Monguno, Prof. Garba Mohd, the Committee directed the institution to also be diligent in its observance of Federal Character and other issues as the Committee discovered a skewed empolyment in the institution in favour of a particular section of the country.
It reminded the Rector and members of his management that, as a federal institution, it is required by law to treat all parts of the country in terms of employment and other considerations.
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Obasanjo narrates how he escaped becoming drug addict

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Former President Olusegun Obasanjo has revealed how he almost became a drug addict.

He spoke in Abeokuta over the weekend at the second edition of ‘Fly Above The High’ anti-drug campaign conference organised by the Recovery Advocacy Network.

Obasanjo stated that smoking during his youthful age led to chronic coughing and almost became an addiction.

The former President, while lamenting the increase in drug abuse among Nigerians and other West Africans, urged Nigerian students and young people to refrain from abusing psychoactive drugs, saying that they ruin life rather than enhance it.

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“If I had persisted, I could have become addicted. Once you get involved, it is difficult to get out.

“There’s nothing drug can do for you except destruction.

“We found out that West Africa has equally been a centre for drug consumption in a very bad way. That was more than 10 years ago, so the situation has since gone worse. And whatever applies to West Africa applies to all other parts of Africa,” Obasanjo said.

He cautioned against stigmatization and urged individuals who are already addicted to psychoactive drugs to get help.

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We saved $20bn after Petrol Subsidy Removal and FX Rate Reforms, Says Finance Minister

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Wale Edun, minister of finance and coordinating minister of the economy, says Nigeria has saved $20 billion from petrol subsidy removal and market-based pricing of the foreign exchange rate.

Edun spoke at a ceremony recently held to mark the first 100 days in office of Esther Walso-Jack, head of civil service of the federation, in Abuja.

“An amount of five per cent of GDP is what those two subsidies were costing when there was a subsidy on PMS; when there was petroleum product generally for a long time and when there was a subsidy of foreign exchange. Between them, they were costing five percent of GDP,” he said.

“If you say GDP was on average, let’s say $400 billion. We all know what five percent of that is – $20 billion of funds that could be going into infrastructure, health, social services, education.”

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