Feature/OPED
Reflecting on a Catholic Priest’s 30 years Of Liberal Thoughts
By Jerome-Mario Utomi
Taken objectively, Rev. Fr. Victor Ibude, from Agbor, Delta State, Nigeria, is a Catholic Priest ordained about 30 years ago precisely in the year 1993, who in the first instance went to the seminary with no ambition of becoming a priest but only went in thanksgiving to God for aiding him score distinction in his examination as conducted by the West African Examination Council (WAEC).
He was, however, through divine arrangement and natural order of things, ordained a Priest of the Catholic Church on the aforementioned date.
Essentially, by his ordination which was administered by His Lordship, Most Rev. (Dr) Anthony Gbuji, Bishop of Issele-Uku Diocese (as he then was), Fr. Victor, like other Rev. Fathers in the catholic faith, became a Priest, a Prophet and a King, laced with the capacity to perform every spiritual, human and other responsibility associated with the position/office.
Beyond these statutory responsibilities, a peep into his 30-year existential journey in Priesthood reveals something new and different. He is not only embodied with a spiritual relationship with God, which of course is a prerequisite demand for the vocation but principally exudes a liberal thought system that positively defines his views and approach to issues.
The above unique attributes daily manifest through exceptional intellectual achievements among other documented feats. recently came to the fore during a media parley with him, as part of a programme lined up to mark his 30th Priestly ordination cum book presentation slated for Sunday, December 10, 2023, in Alisimie village, Ika South Local Government Area of Delta state.
Aside from revealing that he has authored over fifty (50) books on different topical issues, with plans underway to hit 100 books at a record time, Fr. Ibude, who was a Professor of Philosophy, used to his credit, the opportunity provided by the interview to highlight on critical human and developmental issues as well as addressing some unsettled religious doctrinal commentaries.
Beginning with insight into his choice of priesthood as against other fields of endeavours, Fr. Ibude explained that his going to the seminary was a result of an event that occurred during his West African Examination Council WAEC examination.
He said in part; when I had my first WAEC, I did not pass all my papers. Then, I went to Lagos where I showed my results to my siblings. I was enrolled to attend a lesson. While attending the lesson, I was still active in church. My elder brother, Edward reported me to my elder sisters, telling them I was too ‘churcheous’ and not focusing on my studies.
So, there was a conference over the matter and during the discussion, I told them that my result was already known to me. So, I mentioned that I would score distinctions in the forthcoming examination. My brother decided to make a bet with me that if I should score any distinction, he would give me twenty naira (N20). At the end of the day, when the result was released and I had distinctions, my brother wrote me a letter telling me that God wrote the examination for me. Then since God wrote the examination for me, I decided to go and thank him by going to the Seminary.
Asked if he believes in reincarnation, which happens to be one of the doctrines that the Catholic Church frowns at, he answered this way;, as a Catholic and a Christian, I was going with the waves that the church does not believe in reincarnation. However, I wrote my first work on reincarnation when I was in secondary school class five. The title was The Wonders of Reincarnation. Now, I learnt from my parents. My father was not a Catholic. He belonged to Cherubim and Seraphim. They taught me and my siblings how each of us was incarnate of somebody who was gone. The stories were so clear to me and that was how I started getting interested in the fact that these people were giving us facts that you can see.
So, why are we having doubts about this? Eventually, when I entered seminary, I decided to give myself into understanding of the philosophy of reincarnation. I started researching on it. Eventually, my final thesis in philosophy was on reincarnation. Then what was my conclusion?
My conclusion was that there exists reincarnation. That was where the issue is. How did I come to that conclusion knowing that the church does not believe in reincarnation? Luckily for me, because of my test, I came across the work of Saint Paul in 1st Thessalonians 5 v 23, where St. Paul talked about the tripartite nature of man.
All the while, we talked about the dual nature of man. Man is soul and body. We don’t talk about the third part of man which is the spirit. So, when I came across this version of St. Paul of man being three and not two, the whole mystery of reincarnation became so clear. Reincarnation happens in reality not because of the soul but because of the spirit.
So, as we speak, my position on it is still the same.
As for the church’s position, it is still not clear about the whole idea because the church essentially is the people in it. And the people in it are the theologians. Theologians are the people studying it. So, it is a work in progress. We’re still studying, we’re still doing our research and we’re still writing on it. He stressed.
From doctrinal commentary to evaluation of his 30years sojourn on earth as a Priest, again, he captured it this way; well, the journey has been a serious one. There was a time I had a serious challenge. At that time, some issues were provoking me. One, as a priest, I found out that the word Father was no longer a name but a demand. People make demands of you. I was not sure I could carry the load of the challenge of people’s demands. That was one.
The second one was discovering that ordination does not make you a saint automatically. I thought passion dies with ordination. That was when I decided I wanted to go to the monastery. And I went to the monastery. I was in the monastery for about a week because I was studying their spirituality. After that, I decided I was going to live a monastic life. I asked for permission but the bishop refused. That was how I didn’t go to the monastery, he concluded.
Asked about his position on the proliferation and commercialization of churches, the Man of God, declared that he has no problem with such development. Quoting John Cardinal Onaikan, when he was asked about the issue of church proliferation, he came out with the notion that it would have been worse if there were no churches. That was his position and if you look at it, these churches are still relevant. Take as an illustration; if people are left on their own without churches, they tend to be worse off. The church has succeeded in making us better.
Continuing, he added the commercialisation of churches on its part has an advantage too. We the Catholics, without this Commercialization of churches, don’t think we would have been challenged to be evangelical and charismatic. They have their relevance. Look at Europe and America where the churches are not as challenged as we are here, you could see that the churches there are dying. So, it is to our advantage.
While noting that the church is doing something but not doing enough to curb the moral decadence in society, the Catholic cleric insisted that the church in itself accommodates culture. ‘It is called inculturation. And for some time now, I’ve been doing what is called inculturation mass where i incorporate tradition into the mass. I’ve been having it in many of the parishes because the church made provision for this. It’s just that we Africans don’t seem to be open to these things. We the blacks don’t seem to appreciate what we have’.
Asked to explain why he reportedly threw up controversy in his Seminary days with his assertion that catholic priests marry, he answered, saying; Yes, I was trying to throw up a controversy. In my class 6 in the seminary, I was having difficulties with the system. Like I said, I was into music. So, my life was a social life. They were already telling me that I was too social and that it was not the life of a priest.
But I was not giving it up because that was what I liked. So, it was clear to me that those in charge were not comfortable with it. And the only thing they could do was to send me away but how they were going to send me away, I didn’t know. So, when the examination came, they asked me the question and I said it was a way of them telling me to go. I was not even afraid of going in the first place. So, that was why I did that.
Asked what kept him going as a Priest despite the challenges in the past thirty years, Fr. Victor has this to say, listen to him; Well, I would say it’s my prayer life. I have a very rigorous prayer life. I have a basic prayer system. Like every day, I spend one hour in church. It’s a practice I learnt in secondary school and I kept doing it.
On his active involvement in active charity, the Priest succulently explained as follows; well, growing up. Like in primary school, I used to follow the African Culture where your siblings and relations usually eat together. When we cook rice, it’s always a special day. Each time they come, my siblings will expect me to share my food with my age mates. It makes me uncomfortable because why will I be sharing my food? Why don’t they have their own? At that moment, I was challenged. Charity was difficult for me but from that background, I was forced to give up what is mine.
From that moment also, I started learning. I had to learn on time because it was becoming an issue. From there, I started learning how to give out to the poor. I started giving to the extent that when it was time for my first WAEC that was one of the reasons why I didn’t pass my first WAEC. The money I was given for Agric practical, as I was on my way to pay it, I met a beggar. I took the money and gave the beggar. So, that has been the background.
Asked to advise public officeholders and Nigerians as a whole, he called on all to seek the face of God.
‘For a long time now, I have something I call my NGO. The NGO aims to help solve matters that are within my reach. If I am driving along the road and I see that there is something on the road, I will stop and remove it. I have been preaching it and have also been living with it. Do something for somebody. Charity is our African philosophy. It’s just that we have lost it. And if everybody is good to the other, everybody will be comfortable. Nobody will be stealing. People are stealing because we are not appreciative of what we have’.
On his proposed University and retreat centre, Father explained that he started thinking about having a retreat centre where people can go to rest, to be on their own because Agbor doesn’t have that. So, that was how the whole thing started.
‘After that, I realized also that there is a lot of knowledge that has not been encapsulated in this part of the world. We have so much to offer. Also, we don’t have anywhere to go for a holiday here. If I’m thinking of going on holiday, I’m always thinking of leaving the vicinity. But why am I going out? It’s because I can hardly find places to go around here. So, this is the idea behind it,’ he concluded.
By Blaise Udunze
Daily, the world watches Nigeria through a familiar lens in what appears to be a gory situation. Especially in cases when the news headlines tell stories of farmer-herder clashes, bandit attacks, kidnappings, villages reduced to ashes or deserted by the dwellers, as thousands of Nigerians have been displaced across states such as Zamfara, Plateau, Benue, Niger, Kaduna and Nasarawa. Subliminally, this is about to become a similarly ugly occurrence in southwestern Nigeria, which is fast becoming obvious if not nipped in the bud quickly.
Recorded data have shown that bandits, Boko Haram, and others killed over 190,000 Nigerians in 17 years and displaced 3.7 million people.
A human rights organisation, the International Society for Civil Liberties and Rule of Law (Intersociety), in its fearful revelation, has said that no fewer than 190,150 Nigerians have been killed by bandits, Boko Haram insurgents, and suspected armed herdsmen between July 2009 and March 19, 2026, as this calls for concern.
The dominant explanations often point to ethnic tensions, religious divisions, climate change, shrinking grazing routes or weak security institutions. No doubt, those factors are certainly part of Nigeria’s complex security crisis. Yet another question deserves serious examination.
What if, in some locations, the violence is also serving another purpose? What if some of the territories experiencing repeated displacement are the same places sitting atop some of Nigeria’s most valuable mineral deposits? More importantly, if such a pattern exists, who benefits when communities disappear?
Of a truth, these questions are uncomfortable, but undeniably they deserve careful investigation rather than dismissal.
For ages, Nigeria has been naturally endowed, and it is estimated to be rich in enormous significant reserves of gold, lithium, uranium, tin, columbite and other strategic minerals increasingly sought after in the global transition to clean energy technologies. As international demand for battery minerals continues to rise, these resources have become far more valuable than they were only a decade ago.
If one overlays publicly available geological information with maps showing persistent violence, some observers argue that striking geographical overlaps appear in several regions. Such overlaps alone cannot establish causation. Correlation is not proof of conspiracy. However, they raise questions worthy of independent scrutiny.
One issue attracting increasing attention and adequately yearns for answer is whether prolonged insecurity may inadvertently or deliberately create conditions that make mineral extraction easier.
Under Nigeria’s Nigerian Minerals and Mining Act 2007, mineral resources belong to the Federal Government, while mining rights are granted through licences and leases. Community engagement and land access are expected to form part of the licensing process, although implementation varies depending on circumstances. This raises an important policy question.
What happens when the communities expected to participate in those processes have already fled because of violence?
Displacement changes the dynamics of land ownership, consent and access. While no evidence automatically proves that attacks are orchestrated to facilitate mining, the sequence of violence followed by renewed commercial activity in some locations deserves closer examination by regulators, lawmakers and investigative journalists.
In conflict studies, researchers have long observed that wars often generate economic winners alongside humanitarian losers. Could elements of Nigeria’s insecurity also be producing economic beneficiaries?
Reports over the years have documented concerns about illegal mining operations across parts of northern Nigeria. Government agencies themselves have repeatedly acknowledged that criminal networks profit from the country’s vast mineral wealth. The unresolved question is whether isolated criminality has, in some instances, evolved into more sophisticated alliances involving political influence, financial interests and international supply chains. If so, the implications extend far beyond Nigeria.
Invariably, it is clearly known that lithium has become one of the world’s most strategic commodities, powering electric vehicle batteries and renewable energy storage systems. Gold has always remained one of the safest global investment assets during periods of uncertainty. Meanwhile, it is well confirmed that the global appetite for these minerals creates enormous financial incentives.
Suppose violent displacement reduces resistance to extraction. Suppose shell companies subsequently acquire mining interests. Suppose minerals then leave Nigeria through legitimate-looking export documentation while their true value remains understated.
These scenarios remain allegations unless supported by verifiable evidence. Yet they outline a framework that investigators may wish to test rather than ignore. Financial crime experts frequently identify trade mis-invoicing as one of the most common methods of illicit financial flows worldwide.
Could Nigeria’s solid minerals sector be vulnerable to similar practices? If valuable lithium ore is deliberately but inaccurately described as lower-value material on export documents, substantial wealth could potentially leave the country without reflecting its true market value. Likewise, if unrefined gold exits through privileged channels with limited scrutiny, questions naturally arise about oversight, transparency and accountability over criminal activities which have continued to stunt and disrupt the country’s socio-economic growth and at the same time cause carnage.
Such possibilities are not accusations against any particular institution or company. Rather, they illustrate why stronger monitoring systems are increasingly essential. Another question concerns logistics.
With the high level of criminal activities, industrial mining requires heavy machinery, diesel supplies, transportation networks and specialised personnel. These are not operations that can remain invisible indefinitely.
If certain territories are genuinely too dangerous for security agencies, how do industrial-scale extraction activities reportedly continue in some remote locations? If they do, who protects those operations? Who authorises their movement? Who verifies what is extracted? Who ensures royalties and export revenues reach public coffers? These are governance questions that demand institutional answers.
Equally important is the international dimension. Minerals extracted in Nigeria ultimately enter global supply chains. Gold may pass through international refining hubs before entering financial markets. Lithium may become part of battery manufacturing destined for electric vehicles, which are being sold across Europe, North America and Asia.
One known fact is that consumers purchasing products containing these minerals rarely know the full story of where they originated.
Increasingly, however, investors and governments are demanding ethical sourcing standards that trace minerals from extraction to final manufacture.
A critical factor that must be taken into cognisance is that if insecurity is creating opportunities for illegal or unethical extraction anywhere in the world, multinational companies have responsibilities alongside national governments, of which the onus falls on the Nigerian government.
Transparency cannot stop at the mine gate. Nor should accountability end at national borders. Another issue requiring attention concerns beneficial ownership.
Across many jurisdictions, shell companies can obscure the identities of individuals ultimately controlling commercial assets. If politically exposed persons or powerful business interests are hidden behind complex corporate structures registered offshore, identifying beneficiaries becomes significantly more difficult. This challenge is hardly unique to Nigeria.
Findings showed that from Latin America to Central Africa and Southeast Asia, resistant corporate networks have frequently complicated efforts to combat corruption and illicit resource extraction. That is precisely why open corporate registries, beneficial ownership databases and transparent mining licence disclosures are becoming global governance priorities. For Nigeria, the stakes could hardly be higher.
The country stands at the centre of the world’s emerging critical minerals economy. The Nigerian government can’t feign ignorance of the fact that, when handled transparently, these resources could finance infrastructure, education, healthcare, and industrial development for generations.
In no way would the government claim not knowing that when handled poorly, they risk becoming another chapter in the well-documented “resource curse,” where extraordinary natural wealth coincides with persistent poverty, insecurity and institutional weakness.
The ultimate challenge, therefore, is not simply about mining. It is about governance. It is about whether public institutions possess both the independence and capacity to ensure that natural resources benefit citizens rather than narrow interests. It is about whether conflict zones receive genuine peacebuilding efforts instead of becoming forgotten frontiers. And it is about whether international markets demand accountability with the same enthusiasm they demand raw materials.
None of these questions should be answered through speculation. They require rigorous investigations, forensic financial analysis, satellite imagery, mining license audits, customs records, beneficial ownership disclosures and courageous journalism.
They require governments willing to open their books. They require international cooperation capable of tracing money across borders. Most importantly, they require asking questions that have too often remained unasked.
Perhaps Nigeria’s security crisis is exactly what it appears to be: a tragic convergence of historical grievances, weak institutions, criminality and environmental pressures. Or perhaps, in some places, another layer of economic incentive deserves closer scrutiny.
Until those questions are thoroughly investigated, one possibility will continue to linger. Maybe the world’s attention has been fixed on the blood spilt above ground, while too little attention has been paid to the extraordinary wealth lying beneath it.
Blaise, a journalist and PR professional, writes from Lagos and can be reached via: bl***********@***il.com
Feature/OPED
What Does Nigeria’s $51bn Reserves Milestone Mean if Most New Foreign Money Can Leave Quickly?
Nigeria’s foreign reserves have climbed to about $51 billion, a decade-plus high, according to the Central Bank of Nigeria (CBN). EBC Financial Group (EBC) notes that this reflects stronger investor confidence, but the second half may show whether it holds, as the build rests on three cyclical drivers: oil earnings, short-term foreign money and a narrowing official-to-street naira gap.
Reserves rose from about $32 billion in April 2024, during a dollar shortage, to about $51 billion now, near the CBN’s target. Much came from two cyclical sources, strong oil earnings and money chasing high-yielding naira assets, so EBC expects the pace to slow or reverse. Fitch Ratings, a major international credit rating agency, expects a marginal decline to about $47 billion by the end of 2026, citing higher spending and external pressures.
David Precious, Senior Market Analyst at EBC Financial Group, said, “Nigeria’s reserve build is real but may not be durable yet, because nearly all of the new money is the kind that can leave quickly. Of the $10.37 billion that came in over the first quarter, the overwhelming majority was short-term portfolio funds rather than long-term investment, so a shift in oil prices, global interest rates or confidence in the naira might pull a large part of it straight back out.”
Most New Money Can Still Leave Quickly
The composition of the foreign inflows explains the caution over how long the build can last. The country attracted $10.37 billion in foreign investment in the first quarter of 2026, up 83.83 per cent year-on-year, according to the National Bureau of Statistics (NBS). Of that, $9.86 billion or 95.09 per cent, was portfolio money, largely short-term naira debt such as Treasury bills that investors can sell at the next auction, while foreign direct investment, the long-term kind that builds factories and jobs, was $135.08 million, or 1.30 per cent. Put simply, of each dollar coming in, about 95 cents can leave quickly, and barely one cent stays.
That money supports reserves while it stays. Dollars brought in to buy naira assets add to market supply, letting the CBN hold more reserves and steady the naira. It leaves when conditions change. Nigeria earns most of its export dollars from oil and gas, so lower oil prices mean fewer dollars, and as a member of the Organisation of the Petroleum Exporting Countries (OPEC), it cannot simply produce more, output capped by quota and reduced by theft and ageing fields. Higher global interest rates draw money toward safer returns abroad, and a weakening naira prompts investors to sell early. When oil fell in 2016 and 2020, foreign investors withdrew and could not convert naira to dollars as supply dried up, leaving the CBN to clear more than $7 billion in trapped obligations into 2024.
The Oil Boost is No Longer Certain
Oil looked like a dependable source of the dollars behind the reserves only months ago. Earlier in 2026, concern over disruption around the Strait of Hormuz lifted crude prices, and stronger receipts flowed in, with crude oil export earnings of $8.11 billion in the first quarter in the CBN’s balance-of-payments data. That support is now easing. The tension has subsided, and Brent traded near $72 on June 29, down about 24 per cent over the month, back to pre-conflict levels. With the price boost gone and output constrained, reserves are more exposed, leaning on non-oil earnings and investor patience rather than oil.
The Naira Still Trades at Two Prices
The naira has traded at two prices, an official rate and a higher parallel-market rate, and closing that gap into one trusted price is what many investors might watch most. Before committing funds, they may want assurance they can convert naira to dollars at a fair rate when they exit, and a wide gap revives the fear of being trapped that lingers from earlier shortages. The gap has narrowed to roughly N20 to N30, with the CBN’s official rate near N1,380 per dollar on June 26 against parallel-market quotes around N1,400. The International Monetary Fund (IMF) 2026 Article IV review urged Nigeria to depend less on this fast-moving portfolio money and to keep phasing out its multiple exchange-rate practices. The CBN’s Foreign Exchange Manual, in force from 1 June, is intended to make the market clearer, though such rules build confidence only once investors can freely trade dollars at the posted rate.
What could Make the Build Durable
A few signs that may show the build turning durable include a smaller gap between the official and street naira rates, more long-term foreign investment, and steadier oil earnings. A gap that stays small, now roughly N20 to N30, may mean investors trust the official rate and no longer need the street market. A clear rise in foreign direct investment, only $135 million last quarter against $9.86 billion of short-term money, might mean lasting capital is replacing funds that can leave at the next auction. Oil earnings that hold up, rather than sliding from the low $70s, should help keep reserves steady, since oil and gas bring in most of Nigeria’s export dollars.
“Reserves built on money chasing high yields can fall as fast as they rose, as they did after the last two oil shocks, when investors left, and the CBN spent years clearing a foreign-exchange backlog,” Precious added. “What holds through a downturn is slower money, direct investment, steady oil and non-oil export earnings and one credible naira rate, and that is the shift Nigeria has yet to make.”
By Olajumoke Bello
Across Nigeria, small and medium enterprises remain the backbone of economic activity. They drive trade, create jobs, and sustain millions of livelihoods. Yet, despite their importance, many SMEs continue to operate below their full potential due to persistent structural challenges.
Access to finance remains one of the most cited constraints. However, the issue today goes beyond the availability of capital. Many businesses struggle with financial readiness, weak documentation, and limited understanding of what lenders require. This often leads to missed opportunities, even when funding options exist.
At the same time, SMEs face gaps in market access and visibility. Business owners operate in highly localised environments, with limited exposure to broader networks that can unlock partnerships, new markets, and growth opportunities. This isolation can constrain scalability and reduce long-term competitiveness.
Equally important is the capability gap. Many entrepreneurs grow through resilience and experience but lack structured knowledge on critical areas such as financial management, export readiness, and digital adoption. Without this, even well-capitalised businesses can struggle to sustain growth.
These challenges point to a clear need for a more practical and integrated approach to SME support. It is no longer sufficient to offer standalone solutions. SMEs require ecosystems that combine knowledge, access, and direct engagement in ways that reflect how they actually operate.
A key shift is the move from centralised interventions to localised engagement. SMEs are deeply influenced by their immediate environments, whether markets, industrial clusters, or trade corridors. Solutions must therefore be brought closer to where these businesses function, allowing for more relevant support and stronger relationships.
Another important shift is from awareness to action. Business owners do not only need information; they need insights that they can apply immediately. This includes understanding how to structure their finances, how to access trade opportunities, and how to connect with the right partners to scale their operations.
There is also a growing need for continuity. Many SME-focused initiatives deliver strong initial impact but lack follow-through. For support to be effective, it must extend beyond one-off engagements into sustained relationships, with clear pathways for onboarding, advisory, and growth.
For financial institutions, this presents both responsibility and an opportunity. Supporting SMEs now requires moving beyond transactional banking to deeper partnership models. It requires understanding businesses at a granular level and co-creating solutions that evolve with their needs.
At Stanbic IBTC, this perspective continues to shape our approach to SME development. Our focus is on delivering practical support that translates into real business outcomes, helping enterprises grow, compete, and contribute more meaningfully to the economy.
As part of this commitment, we are extending our SME engagement to the regions through the Nigeria Business Summit Regional Tour. The tour will take structured, on-ground activations into key commercial hubs, where SMEs can access funding guidance, trade insights, advisory support, and direct engagement with financial experts.
The regional tour will take place across five strategic locations, bringing these solutions closer to business owners in Aba, Onitsha, Ibadan and Kano.
This approach reflects an important principle. When support moves closer to businesses and when solutions are delivered in ways that are practical and continuous, SMEs are better positioned to grow sustainably. In turn, this strengthens not only individual enterprises but the broader economy.
Olajumoke Bello is the Head of Enterprise Banking at Stanbic IBTC Bank
