The controversy hanging around the newly signed electoral law seems not going to end any time soon. The s. 84(12) which has been the centre point of the controversy is still lingering around. 

Previously, the president advised the lawmakers to expunge the section completely from the new law but the lawmakers refused to heed the presidential advice, the Attorney General of the Federation has also approached the parliament and requested the removal of that section but the parliaments refused to remove this notorious section from the law.

What is the impeccable provision of this section that is making everyone to be running helter-skelter, especially public office holders who have an interest in contesting for political offices come 2023?. 

This section stipulates that anyone holding a political office – ministers, commissioners, special advisers, and others – must first relinquish the position before they can be eligible to participate in the electoral process either as a candidate or as a delegate.

To this effect, every appointed political office holder under this present political dispensation who has an eye on any elective political post in the upcoming election must first resign before that individual can participate in any electoral process even if as a delegate or as a candidate. 

This section directly affects individuals like Malami, Amechi, Festus Keyamo, and others who are currently in the executive cabinet but rumored to be making plans of contesting in different elective positions. This means that Amechi and the likes must first resign as a minister of the federation before he can openly declare to contest or participate in any political process be it as a political candidate or as a political delegate.

The lawmakers are of the opinion that political appointees should not involve themselves in partisan politics, if they must do, they will first have to relinquish their offices and appointments. This is to ensure that those appointed to occupy different positions discharge their duties without any political affiliation. 

The struggle for the extinguishment of this notorious section 84(12) of the 2022 electoral act got a break yesterday as the Federal High Court sitting in Umuahia, Abia State in a judgment has ordered the Attorney-General of the Federation to immediately delete Section 84 (12) of the amended Electoral Act.

Her Lordship, Justice Evelyn Anyadike on Friday held that the section was unconstitutional, invalid, illegal, null, void, and of no effect whatsoever and cannot stand, as it violates the clear provisions of the Constitution and since it is inconsistent with the provisions of the constitution it is to the extent of its inconsistency null and void.

In the suit marked FHC/UM/CS/26/2022, Justice Anyadike further stated that Sections 66(1)(f), 107(1)(f), 137(1)(f), and 182(1)(f) of the 1999 Constitution already stipulated that appointees of government seeking to contest elections were only to resign at least 30 days to the date of the election and that any other law that mandated such appointees to resign or leave the office at any time before that was unconstitutional, invalid, illegal null and void to the extent of its inconsistency to the clear provisions of the Constitution.

We patiently await how this political game of thrones will turn out in the coming days, will this judgment be appealed? Will the lawmakers protest for the ridicule the high court judge of Abia state has subjected them to, what will be the reaction of the general public? 

Answers to these questions will surely unfold in the coming days, till then, we will sit tight to enjoy the drama.

African mobility fintech company, Moove has raised $105 million in an oversubscribed Series A2 round consisting of equity and debt, to expand its services to new markets.

The round is led by existing investors, Speedinvest, Left Lane Capital and the latest.ventures, with participation from new investors including AfricInvest, MUFG Innovation Partners, Latitude and Kreos Capital.

Launched in 2020 by Ladi Delano and Jide Odunsi, Moove is democratizing vehicle ownership across Africa by providing mobility entrepreneurs access to revenue-based financing in markets with low access to credit. Using its alternative credit scoring technology, Moove provides vehicle financing to its customers to purchase brand new vehicles using a percentage of their weekly revenue.

The startup has experienced overwhelming demand and exponential growth across Africa, with its Moove-financed vehicles having completed over 3 million rides covering more than 25 million kilometers. Now, Moove is expanding its model globally to meet the needs of mobility entrepreneurs in other emerging markets.

With this new $105m Series A2 round, which brings the total raised by the mobility fintech pioneer to $174.5m, Moove will rapidly scale its revenue-based vehicle financing model to seven new markets across Asia, MENA, and Europe over the next six months.

“Less than two years ago we discovered this whitespace of mobility fintech and launched Moove. Having now surpassed over 3 million trips in Moove-financed vehicles across Africa, launched in six new cities and connected thousands of ambitious mobility entrepreneurs to ride-hailing, e-logistics and instant delivery marketplaces, we’re now leading this growing category within fintech,” Ladi Delano, co-CEO at Moove, said.

“But there are still millions of budding mobility entrepreneurs in emerging markets across the world who have limited or no access to vehicle financing and marketplaces that are facing critical supply issues. With this new fundraise, we are well-positioned and well funded to help solve this global problem. We’re delighted to have the support of leading investors across the globe who will be integral in enabling us to take our Nigerian-born model to the world.”

Moove is part of a new generation of Nigerian-born startups that are upending financial services across Africa. After raising $23 million in an oversubscribed Series A round in August 2021 and securing seed-stage funding from Future Africa in 2019, Moove is now leading the charge in the “mobility fintech” sector. This is a white space where Moove has emerged as the leader across Africa, helping to solve the continent’s acute problem of limited access to vehicle financing for millions of Africans.

Over the next six months, Moove will scale its revenue-based vehicle financing model to mobility entrepreneurs across Asia, MENA and Europe, and plans to expand its partnerships and vehicle classes to include cars, trucks, bikes, three-wheelers, and buses.

“At Moove, we are working hard to create disruptive and impactful tech solutions to solve real-world problems. The Moove model that we’ve pioneered in Africa providing revenue-based vehicle financing to mobility entrepreneurs can be applied anywhere in the world, which is why we’re excited to be expanding to new emerging markets in Asia and the MENA region,” Jide Odunsi, co-CEO at Moove, said.

Moove’s model has proven transformative in other ways. Its commitment to ensure that at least 60% of the vehicles it finances are electric or hybrid in line with targets set at COP26, means the company is replacing the old-polluting vehicles that are exported from the rest of the world to the continent with new fuel-efficient vehicles. This commitment to tackling the climate crisis saw Moove recently awarded the IFC’s Annual Corporate Award as one of the top 20 most impactful and transformational projects, applying an innovative and scalable solution towards a global problem.

Moove is driving forward new areas of emerging economies with a platform that is disrupting traditional financial services and providing the means to empower a new generation of mobility entrepreneurs. The mobility space in emerging markets is often highly fragmented and informal, Moove is helping to formalize how millions of people can participate in this economy to earn a living and own their own vehicle. Moove has a commitment to ensure that at least 50% of its customers are women, its product design enables more women to access vehicle financing and flexible employment.

“As we scale, we remain committed to empowering women, leading the electrification of the mobility space and driving financial inclusion. These ideals are at the core of what we do as we continue to build a sustainable and impact-driven global business,” Odunsi added.