'I paid for the Waec and Jamb result for my children. That is how I got them into the university'. That was someone (over 2 decades ago) advising my dad on how to get his children into the University. Dad stuck to his principles. I did Jamb 4 times. The rest is history.
A THREAD
Our situation is that of a rapidly eroding moral fabric where bad has become good and good has become stupid. It is one where those who decide to do it right, get punished for the audacity to even think like that while those who do it wrong are rewarded and celebrated.
But it didn't start today. It started decades ago. It started when young children saw their "good & honest" parents who never took a bribe, retired in penury and queued for days waiting for their meager pension to be paid while their colleagues who took kick backs built mansions,
...sent their kids to the best schools abroad, got honoured in Church as special guest, receive chieftaincy titles and won election into public office. It sent a message to those young ones to never be like daddy and mommy. It told them that "the end justified the means".
It told them that it didn't matter how you get it, just get it. No one will ask. It birthed the "by all means possible" generation. Those children grew up to become adults burning with determination never to repeat d mistakes of their parents. Nothing was no longer out of bounds.
If they can't pass exams, they bought exam papers, bribed lecturers, pay off jamb officials or get someone to write exams for them. As far back as the 90s, while in the uni, I had friends who survived by writing exams for others. They got paid in cash for guys and sex for girls.
I knew lecturers with reputation of doing "deals". If it was bad then, imagine what it is now. If they wanted to travel, it was suddenly okay to falsify visa applications. And if they needed green-card, all they needed to do was contract a marriage. Marriage was no longer sacred.
I recall a parent a few yrs ago trying to justify to me why paying $10,000 for their son to contract a marriage to secure a green card was better than returning to Nigeria to continue his development. To them, the end justified the means. Oh did I tell u they're Deacons in Church
In a society where there is little to no reward for doing it right (and you are celebrated for doing it wrong rather than punished), you end up mainstreaming and normalising bad behaviour. This is no more real than in the political space where a man can be living a bedroom flat..
..and riding a Tokunbo today but once in office graduate to owning mansions & driving a fleet of exotic cars far beyond what is publicly known as his income. How did he come about it? Nobody knows & nobody cares. All that's important is that he is respected and seen as successful
This is where we are today. It's the reason why young men without jobs will bring a luxury car home and instead of the parents asking how he bought it, will rather call a party. It is the reason why other parents watching will urge their sons to do what the other boys are doing..
....since "they don't have two heads". It is the reason why a family will readily package their daughter to Italy knowing she is going to do into a life of prostitution just because the girl next door is sending Euros monthly to her parents and they can show off at the village.
There is no doubt we need to hit the reset button. But it must start with a national conversation about what is right and what is wrong. As long as the reward for doing wrong is honor and the reward for doing right is punishment, we'll keep breeding generation after generations..
...cooking up new ways of beating the last generation in the act of "the end justifying the means.
We must stop celebrating those we know are corrupt and have stolen from our commonwealth. We must stop celebrating those who we cannot prove their means of livelihood.
We must stop giving them special places in Church/Mosque even if they built the damn place. We must never substitute our sense of right for the nonchalance of condoning wrong even if it benefits us. We must never shy away from confronting those with flashes of unproven wealth.
A young mentee once came to me with a car to bless. I spent the next hour grilling him on how he was able to afford it. He didn't like it. He thought I would celebrate with him without asking questions. No fat chance. Eventually I did, but only after I was convinced it was legit.
When we stop glorifying unexplained wealth and celebrating those whose lifestyle cannot match any value addition you can point to or can be explained to a 10 year old, we will be on our way to reverse this national Cancer we are currently afflicted with.
And by the way, remember the story that started this thread, all the kids either dropped out of school or took to drugs. One was arrested for armed robbery. You can't sow evil and hope to reap good. It'll catch up with you one day or another. It's time to press that reset button.
• • •
Missing some Tweet in this thread? You can try to
force a refresh
If you missed the CBN Governor's interview on Arise TV, here is a summary.
On FX Backlogs
- We met $7 Billion in unpaid obligations
- We had reason to believe we needed to take a harder look at those obligations.
- Deloitte was contracted to do a forensic audit of what is valid or not. The results were startling
-- $2.4 Billion had issues
-- Not having valid import documents
-- Entities did not exist got allocations
-- Entities who asked for FX got more than they asked.
-- Entities that did not ask got allocations
- We wrote to the authorized dealer to explain. Sadly much has not been disputed.
- $2.3 Billion of the validly executed ones including Airlines have been cleared.
- What remains is $2.2 billion. We are confident we will address those. We have come to the end of the road.
- The Naira remains undervalued
- The Naira will stabilise.
On FX Liquidity
- CBN does not produce FX, it rather relies on what comes in.
- You need a mix of FX sources to have a adequate liquidity. FPI is one of them.
- A lot of FPIs are very interested in coming back to the Nigerian Market.
- They (FPIs) have taken a methodological interest in the direction the country is going.
- Recent move to have NNPC and other MDA to move their funding into the CBN is very positive and a confidence booster. Those outsiders see it as a giant step forward.
- The time for panic and cynicism is not now. We are in a time where the right decisions are being taken.
- Even the rating agencies are reacting positively to what is happening.
On Interventions.
- I have no illusions that interventions are necessary in our country. They help to channel resources to people however small.
- However, it is important to ensure that the framework is there to ensure it gets to those who really need it.
- The CBN will focus on it's core strength.
- We will be working closely with those whose core strength is in the intervention space.
- We cannot think and implement at the same time.
- We do not have the luxury of failed interventions.
4mths ago, I raised the alarm abt CBN defaulting on delivery of FX forwards. Some said it was a false alarm only for the CBN to admit in its June 16 circular to "prioritize orderly settlement of any commited forward". They started delivering alright but stopped at Jan'23 maturity
Since then, they've not honoured their commitment to fulfill their obligations to deliver forwards with maturities from Feb 2023. Customers are still incurring million in trade charges for trade loans which have not been offset due to the non-delivery of the FX forwards by CBN.
From the CBN audited report and the JP Morgan report, we've an idea why CBN might be struggling to meet these obligations. Unfortunately, this has not been helpful because it damages the risk profile of NGN and makes access to trade finance more difficult for banks and importers.
Nice piece Bayo. I've read takes debating this issue and I've shared my own funny take as well. I don't think people are saying the quality of health care in NGN is better than the UK. It's not. I think what they're saying is that access to HC in Nigeria is faster than in the UK.
I personally have had two terrible experiences assessing health care in the UK (one my aunt and the other a friend). I was personally involved, so I know the story. Both experiences were traumatizing. In the second case, this person was in terrible pains and in great distress.
We called 999 and they asked us to contact the GP that it was not a life threatening situation. According to them if the person can still communicate, then it wasn't an emergency. It wasn't until they heard her death screams that they dispatched an ambulance two hours later.
"I'm ashamed & embarrassed about the laughing stock we've made ourselves & our Faith in the eyes of the world. This show of shame has become a subject of articles & media conversations that are condescending towards the church of Christ" - @VictorAdeyemi
"I want to plead with our ‘Prophets’ to admit their failures and apologize to the body of Christ and the nation. They should go further & learn to ‘keep quiet’ henceforth, except God clearly speaks to them. They shd admit to themselves that they were moved by the flesh towards...
...self aggrandizement and greed to tell lies in the name of the Lord as prophecies. If indeed they had supernatural experiences, they shod admit they were deceived by demons and go for deliverance. In the name of the Lord, I plead they shd stop embarrassing the body of Christ."
I was just informed of the death of a friend. His story is that of a man who slaved for his family, and kept giving even after a divorce forced him to be separated from his wife & kids. 3yrs ago he had a stroke which affected his mobility & earning capacity. Yet, he kept on going
He needed support round the clock and therapy too. But there was no family around to help. Sometimes in the evenings, I would sit with him to keep him company. He would agonize about his family and how even in his medical state, he his unable to have access to his children.
He was an unhappy man and this brought about bouts of anger that made people avoid conversations with him. But I understood him and I was one of a few that could calm him down. He was a lonely man who needed the love and warmth of his family at his most vulnerable time.
I feel the need to address a broadcast message that has been floating around WhatsApp about my daughter Tomisin Ogunnubi. The story has a lot of inaccuracies that needs to be corrected. The story conflates many facts and presents a picture that is completely inaccurate.
THREAD
First the claim.
The story in summary claims that Tomisin Ogunnubi, a 16-year-old Nigerian tech kid beat 49,000 competitors to win $1 billion from RISE initiative with her app.
1. Tomisin is not 16. She would be 20 in July. She won the RISE award in Oct 2021 at the age of 18.
2. Tomisin did create a tracking app as part of a school project when she was 12 which got her national & international acclaim. But it was not because of the app that she with 100 other teenagers globally won the RISE Award.