| The new enemies of Nigeria's Democracy |
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| Tuesday, 02 May 2006 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Festus Odimegwu, Managing Director and Chief Executive Officer of Nigerian Breweries plc, pulls no punches whenever he fields questions from the media, especially at media briefings presaging the companys Annual General Meetings. A first class Chemistry graduate of the University of Nigeria, Nsukka, he spares no opportunity to exhibit his articulation, in flaunting the achievements of Nigeria Breweries plc, appreciating the exquisite features of the female anatomy, or lately, extolling what he perceives as the indispensable qualities of President Olusegun Obasanjo. On this last score, Odimegwu, it appears, has been opening his mouth too wide. At NB plcs last pre-AGM media briefing on Tuesday 18 April 2006 at Eko Hotel, Indeed, Festus Odimegwu spares no opportunity to heap praises on the President. At one forum, he said those saying the Nigerian economy had not recorded considerable improvement under the regime of President Obasanjo were talking nonsense. I have a graph in my office with which I have been monitoring the economy. And the graph has been going up since Baba took over, Odimegwu enthused. Odimegwus
affection for President Obasanjo is becoming so irritating, as he
engages in vain praising of the Nigerian leader even when it is
absolutely unnecessary. During the final of Star Quest, a talent hunt
organised by his company, he pointed at a tall member of the winning
band, DAccord and said: can you see this tall guy; he must have been
born during Babas presidency. He must have been drinking milk because
Obasanjo has made To the NB plc boss, Obasanjo has done so well he deserves another term, and it can only be enemies of the country who would scoff at such idea. As it is turning out, this could well be famous last word. Since Odimegwus gaffe, there has been a whirl of developments. A group of some private sector players has been sponsoring advertisements in national newspapers calling on Nigerians to support Obasanjos third term project. Both THISDAY and Vanguard newspapers bore conspicuous wrap-arounds screaming, Vote for Greatness, Vote for Tenure Extension on their Thursday 20 April and Sunday 23 April editions. The advert was placed by a faceless group which calls itself the Private Sector Supporters for Good and Transparent Governance, PSSGTG. To THISDAY, the group paid a huge sum of N25 million for the insertion, while Vanguard reportedly bagged N10 million. To THE PUNCH newspaper where the advertisers later headed to place yet another wrap-around of the same hue, they met a brick wall. THE PUNCH editors firmly slammed their door against the tenure elongation promoters, in conformity with the papers principled opposition against the third term project. In their desperation to see the advert through, the advertisers offered to pay up the N40 million which they initially offered THE PUNCH for the wrap-around, but the newspaper stood its ground. Just as the real identities of members of the PSSGTG are yet to be unraveled, editors of THISDAY, Vanguard and even THE PUNCH have not disclosed the name of the agency which came with the wrap-arounds. Director-General of the Nigerian Stock Exchange, Dr. (Mrs.) Ndi Okereke-Onyiuke, in an interview with TheNEWS last Tuesday where she denied any involvement with the third term idea, challenged the editors to unfurl the name of the agency that is handling the wrap-around campaign and further investigate and reveal identities of the characters that make up the PSSGTG. As
the Third Term project gets messier and key players in the private
sector believed to be close to Obasanjo are spiritedly denying any link
with it, the head of Odimegwu, an apostle of the idea who has publicly
made no bones about it, is on the chopping block. His satanic verses,
this magazine learnt, have thrown the NB plc into a spin and are making
its owners, Heineken B.V. of Odimegwu
appears to have recklessly engaged his Third Term gear on overdrive.
From admiration, it has become an obsession. Last year, on 5 March,
when Odimegwu headed a Lagos Group to organize Obasanjos 68th
birthday bash at Dodan Barracks, Lagos, it was taken to be a mere
appreciation of what the NB plc CEO, who gave the toast at the event,
described as Obasanjos single-handed re-integration of Nigeria. As
acknowledged by Obasanjo, the birthday bash was put together by friends
of Besides Odimegwu, private sector operators who graced the birthday party included Alhaji Aliko Dangote, chairman of the vast Dangote Group; Dr. Mike Adenuga, Chairman of Globacom, Equitorial Trust Bank and Conoil; Chief Michael Ibru, billionaire patriarch of the influential Ibru family; Dr. Cecilia Ibru, Managing Director and Chief Executive Officer of Oceanic Bank plc; Femi Otedola, owner of Zenon Oil; Tayo Aderinokun, Chief Executive Officer of Guaranty Trust Bank plc; Ndi Okereke-Onyiuke; Oba Otudeko, chairman of the Honeywell Group; Erastus Akingbola, Chief Executive Officer of Intercontinental Bank plc and Mr. Jacob Ajekigbe, Managing Director and Chief Executive Officer of First Bank plc. Odimegwus lionisation of the Obasanjo personae was etched sharply by the fact that only the colours of NB plcs products and ushers adorned the birthday bash at Dodan Barracks. No other beverage from other companies was served. It could not be ascertained, though, whether the organising committee paid for the drinks and the service personnel or the entire expenditure was underwritten by Odimegwu and the giant brewing firm. But it was the recently replaced President of Manufacturers Association of Nigeria, MAN, Engineer Charles Ugwuh, who first gave an indication that some powerful businessmen favor tenure extension for the president. Speaking at MANs 34th Annual General Meeting, AGM on 5 November last year, Ugwuh noted that the various economic reforms initiated by the president since 1999 are being gradually entrenched, and it would be a pity as a result of the need to ensure formal compliance with constitutional provision, if we allow a reversal of these positive developments. The
industrialist proceeded to dress the president in a garb of
indispensability: President Obasanjo, as a leader has recorded quite
considerable and indeed, spectacular achievements. In the process, he
has risen to the status of major African president and leader of
considerable international clout, respect and repute. The on-going
debate should also focus and contemplate what The
private sector players now rooting for another term for Obasanjo are
believed to be operating under the canopy of Corporate Nigeria, a
collection of some influential private sector operators. As, however,
dispelled by Okereke-Onyiuke, chairman of its board of trustees, last
week, this would be giving a dog a bad name to slaughter it. Corporate In
1993, Corporate Nigeria actively backed Chief Moshood Abiola,
presidential candidate of the Social Democratic Party whose victory was
controversially annulled by his friend, Gen. Ibrahim Babangida, who was
then the military president. Corporate The NSE director-general recalled that after the annulment of Abiolas election, Corporate Nigeria, in the absence of a democratic dispensation in which it could play out its objectives, focused on philanthropic activities and organization of seminars. In 1999, the body returned to its original turf after Obasanjo emerged presidential candidate of the Peoples Democratic Party. As the NSE boss posited, Corporate Nigeria evaluated the political spectrum and found no alternative to the ticket of Chief Olusegun Obasanjo and Alhaji Atiku Abubakar. Four years later, in March 2003, the body again threw its weight behind the re-election campaign of President Obasanjo because of, as Okereke-Onyiuke said, The performance of the administration in the last four years and the need for continuity in the Nigerian polity. Vice-Chairman and Chief Executive Officer of Industrial and General Insurance, IGI, Mr. Remi Olowude, asserted the groups decision to stick to Obasanjo was informed by the objectives of the organisation, the strength of our conviction and most importantly, our objective assessment of the first term performance of the Obasanjo presidency. Membership of the group remains shadowy, although it is widely believed there is hardly an oil magnate or a bank CEO in the country, especially from the South, that is not in its line-up. When asked to confirm the membership of some key corporate chieftains, Okereke-Onyiuke replied that membership of Corporate Nigeria is an open affair into which any private sector operator can walk. She was also emphatic that the body is in no way involved in the support for tenure elongation for Obasanjo. Also asked to clarify the linkage between Corporate Nigeria and Transnational Corporation, a new but huge local private sector concern, the NSE director-general stated there is no correlation whatsoever between the two. Transcorp,
as Transnational Corporation is widely known, is the brainchild of
President Obasanjo, as Okereke-Onyiuke admitted. He, however, sold the
vision to some 32 Nigerian business people. The objective, as professed
by its promoters, is to build a wholly-owned Nigerian corporation into
a global conglomerate with a view to rebuilding and repositioning The corporation was launched on 21 July 2005 by President Obasanjo himself at Aso Villa, In May, Transcorp will be hoping to raise the sum of N40 billion from its Initial Public Officer. It has already raised N16 billion through private placements. In the short term, Transcorp will be participating in the on-going privatization program by acquiring decaying or inefficiently managed public enterprises. It has already bought the Nicon-Hilton Hotel, which has been renamed Transcorp Hilton. In the mid-term, Transcorp plans to foray into industries and sectors which have otherwise been the exclusive preserve of foreign companies. Such sectors include the upstream oil and gas business. In the long term, Transcorp plans to foray into industries and sectors which have otherwise been the exclusive preserve of foreign companies. Such sectors include the upstream oil and gas business to this end, TheNEWS gathered, Transcorp has already been awarded an oil bloc by President Obasanjo. The oil bloc gift is however, being widely criticized as a bribe to members of the corporation for their support to the Third Term project. It is also interpreted as empowering them so that they can continue to find the financial wherewithal to bankroll the evil agenda. In
the long term, the corporation hopes to expand beyond Africa and do,
here and elsewhere, what major foreign companies are doing in There are speculations of Obasanjos direct ownership in Transcorp. He is believed in some quarters to have provided a substantial sum for the take-off of the corporation. Okereke-Onyiuke debunked that notion, saying the President only had the Transcorp vision but left every other thing to the private sector. She, however, said it would be in order for the president to buy shares in Transcorp, as it behoves every Nigerian to participate financially in elevating the corporation to be a major global player. Like Okereke-Onyiuke, Adeola, the Transcorp CEO, denied that the corporation wants tenure elongation for Obasanjo in order to protect their businesses. I dont want the President to hang on. Indeed, I dont want anybody to hang on because from my antecedents, I dont hang on. I move on, the former bank chief declared. Hauwa Audu, Chief Executive Officer of Amyn Investment Limited, a stockbroking firm and partner in Transcorp, agreed with Adeola that the president does not need to hang on to power. Audu also denied that Transcorp is involved in the Third Term project. Failure
is, indeed, an orphan as everybody distances himself from an inordinate
ambition that is threatening to throw the country into another round of
crisis. Already, there are dangerous signals of what it portends. Last
month, when Vice President Atiku Abubakar visited Opposition
against the Third Term idea mounts daily. THISDAY editors still talk of
the deluge of letters condemning their decision to honor the wrap
around advert which promotes tenure elongation. And after another round
of condemnation harangued Vanguard which followed suit, it is clear to
the advertisers that not many newspapers or magazines would want to be
part of the dirty campaign, in spite of the huge money being splashed
on it. Beyond the media, many patrons of NB plcs products have also been turning their back on those products in protest against Odimegwus utterances and support for Obasanjos Third Term idea. Olukayode Bamidele, a banker, told TheNEWS he had stopped consuming the Star lager beer brand as his contribution to the nationwide protest against the Third Term madness. Bamidele believed that by buying NB plcs products, he would be contributing financially to the pool of fund that oil the Third Term project. In spite of the strident opposition against the project, its promoters are moving full steam ahead to realize it. That members of Corporate Nigeria are backing President Obasanjo is not a surprise to discerning Nigerians, given the fact that some of them like Aliko Dangote and Femi Otedola publicly bankrolled his electioneering campaigns in 1999 and 2003. A
sum of over N3 billion was said to have been raised last month by key
persons in Corporate Nigeria for distribution to individuals and bodies
sympathetic to the cause or would be bought over. The promoters have
been distributing huge sums of money to certain bodies regarded as
vital to the actualization of the project. Bribes from such wealthy
promoters have torn apart the National Assembly, where the legislators
are expected to vote on constitutional amendments that would either
smoothen the Third Term path or scuttle it outright. A source said a
sum of N50 million has been earmarked to be given to each senator, as
first installment, when the debate on the amendment kicks off in the
Senate. Plots of land in choice areas in
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Posted by Robot| 02.05.2006 07:05