Feature/OPED
Towards the Depoliticising of Forensic Audit on NDDC
By Obiaruko Christie Ndukwe
The Niger Delta people will, for a long time, remain wholeheartedly grateful to President Muhammadu Buhari for the immense goodwill he has shown to the good people of the oil-rich but a beleaguered region, through the various projects and programmes aimed at the total development and emancipation of the Niger Delta region.
We must acknowledge the concerted effort towards the completion of the East-West highway, the reintroduction of the Petroleum Industry Bill (P.I.B) to the National Assembly, the construction of the national headquarters of the Nigerian Content Development Monitoring Board (NCDMB) in the heart of the Niger Delta region, the monumental Bonny-Bodo road project, as well as the move to reposition the Niger Delta Development Commission (NDDC) through the institution of a forensic audit of the commission, just to mention but a few of the projects and programmes which has definitely put the region on the spotlight and assures that the region is on a steady path of growth and development as well as liberation from the clutches of entrenched stagnation and backwardness which has kept the region utterly underdeveloped and abandoned, over the decades.
While we are grateful for this effort, we emphasise that there is still a vacuum and a yearning, to do more for further development of the Niger Delta region.
Certainly, when the recap of events that made news in 2020 is done, one of the stories that will easily come to mind is the much-publicised probe of the NDDC by the National Assembly and for sure, a lot of people will love it, not just because it is a sordid and seamy commentary on the Niger Delta struggle, but mainly because recent events have exposed, albeit inadvertently, that whole exercise for what people have always termed it; a terrible, terrible entertainment.
The very sight of the Acting Managing Director of NDDC, Prof. Kemebradikumo Daniel Pondei losing his breath before the glaring cameras of national and international television should, ordinarily evoke solemnity and somewhat of sadness at the near loss of life, in the course of dedication to national service but this will be reduced further down the slope of horrific spectacles when the cardinal issues that gave rise to that probe, which includes the forensic audit ordered by President Buhari on NDDC, is discovered to have been highly politicized, and designed to be poorly executed, by high calibre politicians, seeking with a highway exit ramp out of the impending expository series which the forensic audit is sure to kickstart.
Needless to say, even party chieftains from both sides of the frontline political divides in the country sought to nail the Minister for Niger Delta Affairs, Godswill Akpabio, rather than live to see the exercise succeed.
Many a group who stood in the gap, intent and determined to brave the odds to ensure that NDDC does not fail in the mandate given to it as a creation of law, to salvage the Niger Delta from environmental degradation and entrench a developmental ideology, will be at a loss and in utter consternation at the sudden twist of fate.
It is sad that the NDDC, which some civil society and advocacy groups of goodwill fought to defend and liberate from the jackals and hyenas, has become a prisoner of sorts, to what looms the selfish interest of a selected few.
It does appear that the collective heritage of the entire Niger Delta region, comprising nine states (Abia, Akwa-Ibom, Bayelsa, Cross-River, Delta, Edo, Imo, Ondo and Rivers) have become the estate of not just the National Assembly members (especially principal officers and members of National Assembly Joint Committee on NDDC), but also of the NDDC management and senior staff as well as the Ministry of Niger Affairs!
The sordid tales of the rape of the Niger Delta has dominated the National discourse, this year, 2020 and has sadly not taken even a casualty, because the dramatis personae of this tragicomedy have insisted on a political solution, rather than a humanitarian approach to the issues raised, whereby the people of Niger Delta will have a breath a fresh and for once in a long time, benefit from their Natural endowment, which is the oil at their backyard. It is so sad to note that in December 2020, the budget details for the 2020 budget of the NDDC has neither been approved by the National Assembly nor released to the commission. What this means is that the Commission is technically grounded and unable to function effectively or even meet up with its expectations to the Niger Deltans.
As though that is not enough setback, to a beleaguered people, reports have it that the much talked about the forensic audit on the account of NDDC, from inception till date, is gradually becoming a reality, that paucity of funds has been programmed to frustrate the development of the region under Buhari, through the non-release of the 2020 budget details of the NDDC by the National Assembly.
The target could be to ensure that the commission engages in extra-budgetary spending, or rather, unbudgeted expenditure, so as to have a reason to nail the forensic audit report and make it stillborn.
This is because the key perpetrators of these shenanigans have concocted allegations against the Minister of Niger Delta Affairs saying that he is clearly being browbeaten into shielding his friends and associates, as well as cronies and fellow party men from being exposed by the audit, through the careful removal of files containing their shady deals and bloated cum unexecuted but fully paid projects, from the records of the commission, thus making it impossible for the forensic auditors to unmask the pillagers and looters for who they truly are. On the other hand, they expect that he should kill, completely, the whole idea of a forensic audit.
It will be a profanity of the anti-corruption stance which Mr President professes if this onslaught by people obviously determined to thwart the goodwill of Africa’s celebrated anti-corruption crusader towards the oil-rich Niger Delta region.
Those bent on frustrating the efforts of the Minister for the sake of hijacking the treasury of the commission to feather their nests towards the 2023 elections had succeeded in crippling the activities of the last interim management committee, under Prof Daniel K. Pondei while plotting a careful takeover of the affairs of the commission through a list of surrogates as members of the substantive board of directors, albeit illegal and skewed.
It may not be common knowledge for those who are ignorant of the behind-the-scene happenings at the commission that for over four months, the NDDC has had its accounts frozen and a lien placed on the said accounts, deliberately forcing the oil and gas companies to pay their statutory 3% and 5% commission into a special account named EFCC/NDDC instead of the NDDC account domiciled with the Central Bank of Nigeria (CBN).
While the yearly federal allocation dropped from N80 billion to N45 billion and exhausted within five months on payment of contractors, foreign scholarships amongst others; the commission became cash-strapped as a highly placed principal officer of the Nigerian Senate in active connivance with the longest-serving member of staff of the commission, wrote petitions to the EFCC and ICPC, forcing the anti-corruption agencies to move against the IMC.
In a rather unfortunate twist, instead of commencing investigations while allowing the commission to function, the EFCC has simply halted payment of contractors
Thus, there is an urgent need to address this impasse before it snowballs into a national embarrassment as the ex-agitators in the region have begun threats to stall the flow of oil through the pipelines. The damage to the economy cannot be imagined if the situation is not nipped in the bud.
Obiaruko Christie Ndukwe is the President of Citizens Quest for Truth Initiative, Abuja
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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