Feature/OPED
Tasks Ahead Of Abdulrasheed Bawa, the New EFCC Boss
By Jerome-Mario Utomi
The conflicting reactions that recently trailed the appointment of Abdulrasheed Bawa, a Nigerian detective and certified anti-money laundering specialist by President Muhammadu Buhari as the new Chairman of the Economic and Financial Crimes Commission (EFCC) reveals one thing. It shows that the road to restoration of trust among Nigerians by the federal government is a long one.
Bawa, an indigene of Kebbi State, going by media reports, is a young man born on April 30, 1980, and holds a Bachelor’s Degree in Economics.
Essentially, such an appointment ordinarily was supposed to elicit a unison excitement among Nigerians but unfortunately, the reverse was the case. Not because the newly appointed is not vibrant or capable but because of a perception crisis the fight against corruption enjoys and the federal government’s track records in this direction.
To some Nigerians with uncritical minds, the appointment is a welcome development. Their reaction was fuelled by the notion that corruption in government daily destroys and breaks the trust which is absolutely essential at the heart of representative democracy and has in the last decades, pushed many Nigerians into extreme poverty.
For others, such an appointment has become a regular music hall of fame. Their reason is predicated on the fact that President Buhari came to power about six years ago with a pledge to crack down on rampant graft in Africa’s biggest economy.
Then, he created a climate of opinion in the country that looks upon corruption in public offices as a threat to society. But such feeling among Nigerians has not only waned but viewed as superficial as the purported fight only exists in the frames.
Nigeria’s recent ranking in Transparency International’s Corruption Perceptions Index slid to 149th from 136th, placing it among the bottom 20 per cent of countries is a perfect example of this assertion.
To the rest, the appointment and entire noise about corruption as orchestrated by the federal government is more of a well said rather than a well-done phenomenon.
While noting that corruption did not start with the present administration as it dates back to pre/post-independent Nigeria, where colonial overlords sufficiently legislated against it in the first criminal code ordinance of 1916(No15 of 1916), they, however, argued that while the situation then may look ugly, what is going on now is worse and frightening.
The original vision behind the EFCC as created by Mr Olusegun Obasanjo’s administration was sharp but the current goal of the fight is blurred, they concluded.
Indeed, apart from helping to harmonise these opposing views via a thorough evaluation of strategies used by the commission in the past, particularly, as the beauty of every strategy can only be pictured in the result, the objective of this piece comes in double folds.
The first is to see how these worries expressed by Nigerians can assist the new Chairman to carry out inward recalculation exercise within the agency.
Secondly, it is to intimate him on why he must crown himself anti-corruption legend by following the part that guided others across the globe to greatness.
With the above in mind, it will necessitate the following questions; where are the legends in Nigeria that Abdulrasheed Bawa will learn from? In a nation that has for decades suffered leadership haemorrhage, will such legends be found among his predecessors? Or will history become the only credible source of information he needs to bridge this understanding?
Honestly, in the opinion of this piece, he needs to learn from legends abroad.
This piece, therefore, recommends Lee Kuan Yew, pioneer prime minister of Singapore, as the legend that Bawa needs to understudy his actions and inactions in combating corruption in his country.
To help readers understand Lee’s choice, it is factually documented that he, within a short space of his administration, moved Singapore from the third world to the first world economy. He walked this part and came out beautifully victorious.
Now, let situate some examples of corrupt escapades in Singapore within the period under review with similarity in complexity to what Nigeria is presently going through.
In 1959, as documented by Lee Kuen Yew, both high and low profiled cases of corruption existed. High profile cases made the headlines. Several ministers were guilty of corruption, one in each of the decades from the 1960s to the 1980s. Corruption used to be organised on a large scale in certain areas.
Custom officers would receive bribes to speed up the checking of vehicle smuggling in prohibited goods. Personnel in the central supplies offices (the government procurement department) provide information on tender bids for a fee.
Officers in the import and export department received bribes to hasten the issue of permits. Contractors bribe clerks of works to allow short piling. Public health labourers were paid by shopkeepers to do their job of clearing refuse. Principals and teachers received a commission from stationery suppliers. Human ingenuity is infinite when translating power and discretion into personal gain. But, it was not difficult to clean up these organised rackets.
The above reality will provide the new chairman with an effective road map to fighting corruption in Nigeria.
Beginning with reality, Bawa urgently needs to commit to mind that globally, when prosecuting corruption, “It matters not whether the exchange is initiated by the person with the money or the person with the power; it is the exchange itself that is the essence of the corruption.
“It matters not if the private enrichment is with cash or with its equivalent in influence, prestige, status, or power; the harm is done by the fraudulent substitution of wealth for reason in the determination of how the power is used. It matters not if the purchase of power is seen as beneficial by some or even by many; it is the dishonesty of the transaction that carries the poison.”
There is another area of interest in Lee’s style/strategy that will offer a big helping hand to the new EFCC Chairman and that is Lee’s singleness of purpose to end the reign of corruption in the country.
One may ask how?
Upon assumption of office, Lee stated; “we made sure from the day we took office that every dollar in revenue would be properly accounted for and would reach the beneficiaries at the grass root as one dollar, without being siphoned off along the way.
“So, from the very beginning, we gave special attention to the areas where discretionary powers had been exploited for personal gains and sharpened the instruments that could prevent, detect or deter such practices.”
On the strategy used, Lee Kuan Yew had this to say, “We decided to concentrate on the big takers in the higher echelons and directed the CPIB on our priorities. But for the small fish, we set out to simplify procedures and remove discretion by having clear published guidelines, even doing away with the needs for permits and approvals in less important areas. As we ran into problems in securing convictions in prosecutions, we tighten the laws in stages. Brief and Simple!”
Without a doubt, if this war must be won, the commission must develop productive collaboration with the nation’s National Assembly in this direction. The need to strengthen our existing laws and possibly enact new ones to suit the ever-changing legal environment has become overwhelmingly urgent.
In making this call, the piece has taken into cognisance that there is nothing more ‘difficult to handle, more doubtful of success, and more dangerous to carry through than initiating such changes as the innovator will make more enemies of all those who prospered under old other’.
But any leaders that do, come out powerful, secured, respected and happy. This is an opportunity that Mr Chairman must not miss.
Finally, to succeed on this assignment, Mr Chairman, you need to borrow the body of Lee Kuan Yew in order to raise the soul of this fight against corruption via diligent investigation as half- hazard investigations create escape routes for suspects.
Utomi Jerome-Mario is the Programme Coordinator (Media and Policy), Social and Economic Justice Advocacy (SEJA), Lagos. He could be reached via [email protected]/08032725374.
By Luke Kyohere
The global payments landscape is undergoing a rapid transformation. New technologies coupled with the rising demand for seamless, secure, and efficient transactions has spurred on an exciting new era of innovation and growth. With 2025 fast approaching, here are important trends that will shape the future of payments:
1. The rise of real-time payments
Until recently, real-time payments have been used in Africa for cross-border mobile money payments, but less so for traditional payments. We are seeing companies like Mastercard investing in this area, as well as central banks in Africa putting focus on this.
2. Cashless payments will increase
In 2025, we will see the continued acceleration of cashless payments across Africa. B2B payments in particular will also increase. Digital payments began between individuals but are now becoming commonplace for larger corporate transactions.
3. Digital currency will hit mainstream
In the cryptocurrency space, we will see an increase in the use of stablecoins like United States Digital Currency (USDC) and Tether (USDT) which are linked to US dollars. These will come to replace traditional cryptocurrencies as their price point is more stable. This year, many countries will begin preparing for Central Bank Digital Currencies (CBDCs), government-backed digital currencies which use blockchain.
The increased uptake of digital currencies reflects the maturity of distributed ledger technology and improved API availability.
4. Increased government oversight
As adoption of digital currencies will increase, governments will also put more focus into monitoring these flows. In particular, this will centre on companies and banks rather than individuals. The goal of this will be to control and occasionally curb runaway foreign exchange (FX) rates.
5. Business leaders buy into AI technology
In 2025, we will see many business leaders buying into AI through respected providers relying on well-researched platforms and huge data sets. Most companies don’t have the budget to invest in their own research and development in AI, so many are now opting to ‘buy’ into the technology rather than ‘build’ it themselves. Moreover, many businesses are concerned about the risks associated with data ownership and accuracy so buying software is another way to avoid this risk.
6. Continued AI Adoption in Payments
In payments, the proliferation of AI will continue to improve user experience and increase security. To detect fraud, AI is used to track patterns and payment flows in real-time. If unusual activity is detected, the technology can be used to flag or even block payments which may be fraudulent.
When it comes to user experience, we will also see AI being used to improve the interface design of payment platforms. The technology will also increasingly be used for translation for international payment platforms.
7. Rise of Super Apps
To get more from their platforms, mobile network operators are building comprehensive service platforms, integrating multiple payment experiences into a single app. This reflects the shift of many users moving from text-based services to mobile apps. Rather than offering a single service, super apps are packing many other services into a single app. For example, apps which may have previously been used primarily for lending, now have options for saving and paying bills.
8. Business strategy shift
Recent major technological changes will force business leaders to focus on much shorter prediction and reaction cycles. Because the rate of change has been unprecedented in the past year, this will force decision-makers to adapt quickly, be decisive and nimble.
As the payments space evolves, businesses, banks, and governments must continually embrace innovation, collaboration, and prioritise customer needs. These efforts build a more inclusive, secure, and efficient payment system that supports local to global economic growth – enabling true financial inclusion across borders.
Luke Kyohere is the Group Chief Product and Innovation Officer at Onafriq
In a heartfelt statement released today, the Conference of Nigeria Political Parties (CNPP) has extended its warmest congratulations to Ghana’s President-Elect, emphasizing the importance of learning from Ghana’s recent electoral success as Nigeria gears up for its 2027 general elections.
In a statement signed by its Deputy National Publicity Secretary, Comrade James Ezema, the CNPP highlighted the need for Nigeria to reclaim its status as a leader in democratic governance in Africa.
“The recent victory of Ghana’s President-Elect is a testament to the maturity and resilience of Ghana’s democracy,” the CNPP stated. “As we celebrate this achievement, we must reflect on the lessons that Nigeria can learn from our West African neighbour.”
The CNPP’s message underscored the significance of free, fair, and credible elections, a standard that Ghana has set and one that Nigeria has previously achieved under former President Goodluck Jonathan in 2015. “It is high time for Nigeria to reclaim its position as a beacon of democracy in Africa,” the CNPP asserted, calling for a renewed commitment to the electoral process.
Central to CNPP’s message is the insistence that “the will of the people must be supreme in Nigeria’s electoral processes.” The umbrella body of all registered political parties and political associations in Nigeria CNPP emphasized the necessity of an electoral system that genuinely reflects the wishes of the Nigerian populace. “We must strive to create an environment where elections are free from manipulation, violence, and intimidation,” the CNPP urged, calling on the Independent National Electoral Commission (INEC) to take decisive action to ensure the integrity of the electoral process.
The CNPP also expressed concern over premature declarations regarding the 2027 elections, stating, “It is disheartening to note that some individuals are already announcing that there is no vacancy in Aso Rock in 2027. This kind of statement not only undermines the democratic principles that our nation holds dear but also distracts from the pressing need for the current administration to earn the trust of the electorate.”
The CNPP viewed the upcoming elections as a pivotal moment for Nigeria. “The 2027 general elections present a unique opportunity for Nigeria to reclaim its position as a leader in democratic governance in Africa,” it remarked. The body called on all stakeholders — including the executive, legislature, judiciary, the Independent National Electoral Commission (INEC), and civil society organisations — to collaborate in ensuring that elections are transparent, credible, and reflective of the will of the Nigerian people.
As the most populous African country prepares for the 2027 elections, the CNPP urged all Nigerians to remain vigilant and committed to democratic principles. “We must work together to ensure that our elections are free from violence, intimidation, and manipulation,” the statement stated, reaffirming the CNPP’s commitment to promoting a peaceful and credible electoral process.
In conclusion, the CNPP congratulated the President-Elect of Ghana and the Ghanaian people on their remarkable achievements.
“We look forward to learning from their experience and working together to strengthen democracy in our region,” the CNPP concluded.
By Kenechukwu Aguolu
The proposed tax reform, involving four tax bills introduced by the Federal Government, has received significant criticism. Notably, it was rejected by the Governors’ Forum but was still forwarded to the National Assembly. Unlike the various bold economic decisions made by this government, concessions will likely need to be made on these tax reforms, which involve legislative amendments and therefore cannot be imposed by the executive. This article highlights the purposes of taxation, the qualities of a good tax system, and some of the implications of the proposed tax reforms.
One of the major purposes of taxation is to generate revenue for the government to finance its activities. A good tax system should raise sufficient revenue for the government to fund its operations, and support economic and infrastructural development. For any country to achieve meaningful progress, its tax-to-GDP ratio should be at least 15%. Currently, Nigeria’s tax-to-GDP ratio is less than 11%. The proposed tax reforms aim to increase this ratio to 18% within the next three years.
A good tax system should also promote income redistribution and equality by implementing progressive tax policies. In line with this, the proposed tax reforms favour low-income earners. For example, individuals earning less than one million naira annually are exempted from personal income tax. Additionally, essential goods and services such as food, accommodation, and transportation, which constitute a significant portion of household consumption for low- and middle-income groups, are to be exempted from VAT.
In addition to equality, a good tax system should ensure equity and fairness, a key area of contention surrounding the proposed reforms. If implemented, the amendments to the Value Added Tax could lead to a significant reduction in the federal allocation for some states; impairing their ability to finance government operations and development projects. The VAT amendments should be holistically revisited to promote fairness and national unity.
The establishment of a single agency to collect government taxes, the Nigeria Revenue Service, could reduce loopholes that have previously resulted in revenue losses, provided proper controls are put in place. It is logically easier to monitor revenue collection by one agency than by multiple agencies. However, this is not a magical solution. With automation, revenue collection can be seamless whether it is managed by one agency or several, as long as monitoring and accountability measures are implemented effectively.
The proposed tax reforms by the Federal Government are well-intentioned. However, all concerns raised by Nigerians should be looked into, and concessions should be made where necessary. Policies are more effective when they are adapted to suit the unique characteristics of a nation, rather than adopted wholesale. A good tax system should aim to raise sufficient revenue, ensure equitable income distribution, and promote equality, equity, and fairness.
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