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Senator Attai Aidoko Sir, Legal Quests or Legislation?

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By John Paul

Recently, I embarked on a journey to Ugbamaka lgah, the ancestral home of senator Attai Aidoko representing Kogi East in the senate. Whirling the community without a glance on potential pay-off for producing a Senator of the federal republic, I resorted for interrogation and a retired police officer has this to say: “This is not river, but a stream.

The only stream sustaining our community and the neighborhood and it’s about four Kilometers away. Aidoko is far from our challenges because he only comes here in the night and disappear before dawn since he became a Senator. As you can see, we have no portable water, no electricity and other basic infrastructures.”

While the interrogation was still on, something struck my mind with the absence of morality in our leaders and I asked myself, why do people find pleasure in deceiving others? The senior citizen suddenly tapped and asked that I come with him. Lo and behold! I was taken to a large warehouse stocked with tricycles purportedly meant to electioneer Aidoko’s re-election bid in 2019.

Flash, Senator Attai Aidoko told us few months ago that he would not contest in 2019 as he will return to his farm in order to cater for his family but all doubt was cleared with events turning out from his camp within the last few days.

Sometimes I wonder if some of our leaders are sets of aggrieved people on vengeance. They are friendly while election is around the corner and once they are voted into power, they turned their back on the electorates.

I stumbled upon a media branded achievement of the Senator from inception to date and I scoffed knowing it’s fallacious and politically intrigued. Though it’s the usual shenanigans with Nigeria politicians especially when election approaches, but I don’t think it’s necessary to spend constituency allocation on tactics that is obviously irrelevant to the political curriculum of Senator Aidoko. Why? Because unlike his contemporaries, Aidoko only sleeps and merry with his concubines while the court delivers his mandate in his choice location.

What a digression of our democracy.

Come to think of it, why would Aidoko include electrification of Ikeje Igah to Ugbamaka in the projects he initiated when Ikeje has been electrified a year before he found his way to the corridors of power? As a matter of fact, Ikeje Igah’s electrification projects was initiated by the famous philanthropist Suleiman Babanawa in 2002.

Moreover, as a center to Okpo, Ogugu, Ugbamaka and Branch Obu, Ikeje town is located along Kogi – Benue – Enugu highways and it’s said to have been blessed with some basic infrastructures like schools, health care facilities and pipe borne water before our democratic rebirth.

Developing an already developed community in the face of others is abysmal. If Aidoko was in for the business he flaunts, it would have made more sense if suburbs like Igah gate, Igah Ocheba, Igah chechere, which lack virtually all the basic amenities, especially portable water, was considered.

Having watched helplessly while Kogi east legislative strides devalorize daily amidst national core issues, I put a call to some ‘behavioural scientists’ to find out what differentiates ‘psychological dispensation’ from action but they are yet to get back to me. Vision, they say, determines mission and mission determines action. The hypocrisy in the entire narrative of our legislative struggles is not far fetched; the man at the helm of affairs is formerly known for his indispensable slogan “Development of Igalaland is my priority”.

More delusive, Aidoko is also a major stakeholder in the so called ‘project save Kogi’. So, one may be tempted to ask, what has suddenly befallen this noble personality? Has power actually corrupted him or the so-called slogan was just a headway to political limelight?

The time is appropriate to pose this sacred question (Legal quests or Legislation?) before distinguished Senator Aidoko as further delay may write off Kogi east from Nigeria’s Geo-political zones. Judiciary they say is the last hope of a common man but for Aidoko, it’s an avenue to quiz justice against the people.

In 2015, Kogi East Senatorial mandate was grasped via election petition tribunal as Abdulrahman Abubakar of the ruling All Progressives Congress won the senatorial poll. Lending credence, he was given the certificate of return as member of the Nigeria Senate on the 3th of April 2015 and took oath of office in June 2015 conforming with electoral acts.

Six months later, Aidoko swirled into the Senate with a verdict from the state electoral petition tribunal siting in Lokoja asking Senator Abdulrahman Abubakar (APC) who polled 98,915 votes to relinquish for him as the flag bearer of the opposition party with 88, 994 votes. Efforts to appeal the injustice perpetrated against Abdulrahman was an exercise in futility as Aidoko, though has Alfa to contend with, bought his way in the entire process.

The legal battles between Aidoko and Alfa however came on the heel of nonconformity with party rules on individual mandate. While Alfa was anointed by his party with his mandate, Aidoko leveraged on his allotted court mandate.

To show that Alfa was also endorsed by the gods (ojo-ane), not only did he win the scheduled re-run, the pre-election suit had had Aidoko declared unqualified for the second time. But coercively, Aidoko flouted court judgement to remain in the senate regardless of whose ox is gored and the recent appeal he filed at the supreme court is just a guy-man making the street attractive for the next ten months when his tenure shall elapse.

Apparently, Aidoko has never been mandated by his constituency in the senatorial journey so far going by the above facts. He has never won election but rely on paid court orders to overthrow those who toiled every nooks and crannies of the constituency to woo voters.

It was reported online that Aidoko bribed four judges of the supreme Court with a whooping some of N100,000,000 each in order to halt it’s judgement on the pre- election suit by Isaac Alfa sometimes last year.

Space constraints may deter my urge to X-ray the saga between Air Marshall Isaac Alfa and distinguished senator Aidoko Ali Usman but one disgusting fact posterity may not allow if ignored is the fact that Alfa ambitiously gambled with Edward Onoja and cohorts in order to secure justice. But if I must balance the equation, Alfa’s last-minute move is just a tradition everyone must adopt especially if the business of politics must thrive. His concordat with Edward Onoja which hierarchically introduced the influence of the state governor, Minister of Justice and finally the presiding judge was a perfect political permutation. At least the mission was accomplished even though the future is uncertain.

Our democracy has been muddled. The business of legislation is now clustered in one-man’s show which neither regard the rule of law nor enforce common will. The judiciary has been cloned into private entity with the outputs favoring an individual.

Those accusing me of raising dust among our party men can now understand that Aidoko has no place in the heart of any party man or the PDP itself going by the odious selfishness and permutations that had reduced Kogi eastern legislation to a shit hole. How can Aidoko sit and watch while Dino Melaye and his counterpart from the central strive for Ajaokuta steel? How can we watch while our Constituency allowances is been diverted and use for legal cases? How can we fold our hands while myopically inclined, self-serving and self-aggrandizement hold sway to the detriment of common will and aspirations?

To prevent further rots, Aidoko and his handlers must be called to order, at least to explain their preferences between the hovering legal quests and legislative business. So that if the need be, we must shop for possible replacement. A black goat they say is better captured in the day time. (PROPHETIC declaration)

God Bless Kogi East.

John Paul, writes from Lokoja, Kogi State. He can be reached on 07064258752

Editor’s Note

The views and opinions expressed in this article are purely of the writer and do not necessarily reflect the position of Business Post Nigeria on the subject matter.

Modupe Gbadeyanka is a fast-rising journalist with Business Post Nigeria. Her passion for journalism is amazing. She is willing to learn more with a view to becoming one of the best pen-pushers in Nigeria. Her role models are the duo of CNN's Richard Quest and Christiane Amanpour.

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Economy

Unlisted Securities Close Flat at Midweek

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unlisted securities exchange

By Adedapo Adesanya

The NASD Over-the-Counter (OTC) Securities Exchange closed flat on Wednesday, August 5, as the market witnessed weaker trading activity with only two deals executed.

In the midweek session, the volume of securities exchanged by investors dropped 99.9 per cent to 802 units from the 1.6 million units recorded on Tuesday. The value of securities further decreased by 99.6 per cent to N208,240 from the preceding session’s N47.6 million, and the number of deals significantly went down by 93.9 per cent to two deals from the 33 deals recorded a day earlier.

Great Nigeria Insurance (GNI) Plc remained the most traded stock by value on a year-to-date basis, with 3.4 billion units worth N8.4 billion, followed by Infrastructure Credit Guarantee (Infracredit) Plc with 2.3 billion units sold for N6.5 billion, and Central Securities Clearing System (CSCS) Plc with 76.9 million units transacted for N5.5 billion.

GNI Plc was also the most active stock by volume on a year-to-date basis, with 3.4 billion units exchanged for N8.4 billion, followed by Infracredit Plc with 2.3 billion units traded for N6.5 billion, and Resourcery Plc with 1.1 billion units valued at N415.7 million.

There were no price gainers or losers yesterday.

As a result, the market capitalisation stood unmoving at N2.739 trillion, while the NASD Security Index (NSI) remained unchanged at 4,563.96 points.

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Economy

Naira Crashes to N1,363/$1 at Official Market

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naira official market

By Adedapo Adesanya

The Naira slid against the US Dollar by N2.28 or 0.17 per cent in the Nigerian Autonomous Foreign Exchange Market (NAFEX) on Wednesday, August 5, to N1,363.85/$1 from N1,362.55/$1.

The local currency also declined against the Pound Sterling in the official market during the session by N5.97 to close at N1,837.38/£1 compared with Tuesday’s closing rate of N1,831.41/£1, and against the Euro, it crashed by N6.54 to quote at N1,575.25/€1 versus the preceding session’s N1,568.71/€1.

But at the black market, the Nigerian Naira traded flat against the greenback yesterday at N1,400/$1, and also remained unchanged at the GTBank FX desk at N1,373/$1.

The Central Bank of Nigeria (CBN) says rates have narrowed to below two per cent, while the country’s external reserves have risen above $52.5 billion, reflecting the impact of its ongoing monetary and foreign exchange reforms.

CBN Governor Yemi Cardoso, represented by the Acting Director of Corporate Communications and Investor Relations, Mrs Hakama Sidi-Ali, disclosed this on Tuesday during the CBN Fair in Gombe. He noted that reforms introduced since 2023 had significantly reduced the disparity between the official FX market and the parallel market.

“The Naira continues to strengthen, with the spread between official and Bureau de Change rates now below two per cent,” he said, adding that reserves at $52.5 billion were supported by sustained inflows and renewed investor confidence in the economy.

Interbank FX transactions slid as weaker market activities dropped total Dollar volume exchanged to $75.35 million, a 51.8 per cent decline from $156.23 million in turnover quoted at the previous close.

The deals at the NFEM window also fell as data from the central bank put Wednesday’s quote at 82 from 139.

In the cryptocurrency market, major were down as global risk sentiment softened as a key world equity index slipped and chipmakers fell.

The MSCI All Country World Index snapped a five-day run to fall 0.2 per cent as chipmakers retreated on both sides of the Pacific. South Korea’s Kospi, a bellwether for the AI trade, dropped 4.4 per cent.

Ripple (XRP) depleted by 1.7 per cent to $1.05, Binance Coin (BNB) decreased by 1.0 per cent to $594.87, Cardano (ADA) depreciated by 0.9 per cent to $0.1884, TRON (TRX) shrank by 0.2 per cent to $0.3261, Solana (SOL) crumbled by 0.1 per cent to $74.00, and Dogecoin (DOGE) went down by 0.1 per cent to $0.0697.

On the flip side, Ethereum (ETH) gained 2.3 per cent to trade at $1,911.41, and Bitcoin (BTC) rose by 0.8 per cent to $64,759.28, while the US Dollar Tether (USDT) and the US Dollar Coin (USDC) remained unchanged at $1.00 apiece.

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Economy

Stock Exchange Gains N71bn on Renewed Bargain-hunting

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nigerian stock exchange

By Dipo Olowookere

The domestic stock exchange rebounded by 0.05 per cent on Wednesday on the back of renewed bargain-hunting by investors, though the level of activity waned.

After bleeding for a few days, the Nigerian Exchange (NGX) Limited heaved a sigh of relief yesterday, as the All-Share Index (ASI) gained 109.41 points to close at 244,912.24 points compared with the previous day’s 244,802.83 points, and the market capitalisation garnered N71 billion to settle at N158.087 trillion versus Tuesday’s N158.016 trillion.

Business Post reports that despite the rebound recorded by Customs Street at midweek, the market breadth index remained negative, as there were 20 price advancers and 29 price decliners, implying bearish investor sentiment.

Linkage Assurance appreciated by 9.94 per cent to N1.77, AVA Capital rose by 9.55 per cent to N10.90, Fortis Global Insurance advanced by 7.69 per cent to N2.80, McNichols gained 7.34 per cent to finish at N5.85, and Coronation Insurance surged by 5.51 per cent to N2.49.

Conversely, Honeywell Flour depreciated by 9.94 per cent to N16.30, PZ Cussons gave up 9.94 per cent to trade at N74.75, Zichis crashed by 9.74 per cent to N20.76, Learn Africa slipped by 9.62 per cent to N9.40, and Neimeth tumbled by 8.33 per cent to N8.25.

The busiest equity was FCMB, with a turnover of 369.2 million units valued at N4.1 billion. Chams transacted 46.7 million units worth N201.8 million, First Holdco transacted 43.5 million units for N5.7 billion, Access Holdings sold 29.8 million units worth N778.0 million, and Linkage Assurance exchanged 19.6 million units valued at N33.5 million.

At the close of transactions, market participants bought and sold 824.1 million units worth N25.5 billion in 48,114 deals, in contrast to the 1.6 billion units sold for N28.7 billion in 54,160 deals a day earlier, showing a shortfall in the trading volume, value, and number of deals by 48.49 per cent, 11.15 per cent, and 11.16 per cent, respectively.

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