My son’s Social Studies textbook listed a number of Nigerian cultural practices that should be retained and those that shouldn’t. I was surprised when I saw cultism, ritual killings, and bloodletting as some of the Nigerian customs and traditions that should be discouraged. I made a mental note of telling their school headmistress to be mindful of the publishers they patronize but on second thought, I realized this writer is saying what she feels about the country. I believe she thinks those mentioned vices are elements of Nigerian culture. It appears she might be right because, somehow, these vices have found their way into our society and are not planning to leave anytime soon.
Day in day out, we receive bad news about this country. Even though most of them are exaggerated, a lot are true. Just recently a woman was arrested for killing children, pounding them in a mortar, and using their mashed remains to perform rituals for her customers. This sounds insane and out of this world but it is true. She is not the only person arrested for engaging in money and blood rituals. It is becoming a norm, gradually, for people to make money through magic. The age-old tradition of becoming rich through hard work, resilience, diligence, and smartness is gradually giving way to the abracadabra method. The worst thing is that many people no longer believe anyone can become rich without doing these rituals. This is something worrisome and we need to uproot it from our communities before they become fully indoctrinated into our culture.
How about other crimes going on in Nigeria? Of course, every country of the world has crimes it is battling with but we need to talk about ours. Today, Nigeria’s foreign PR is shaky because of fraudsters, especially those that engage in cybercrime. Nowadays, many Nigerians find it hard to get foreign remote works because many international employers are wary of cybercrime. Yes, they know how intelligent Nigerians are but many of them are not comfortable trusting us.
Even we Nigerians don’t really trust one another. This is simply because we have allowed the culture of lies to find its way into our society and we gave it a seat among the elders. Today, traders uphold the ideology that honesty doesn’t pay. You hear things like, “You have to learn how to lie if you want to become a successful businessman.” So what then are we complaining about when the country breeds more fraudsters and crooks since we all encouraged it?
Nigeria poverty
Let us look at the ones currently eating up the whole country: insurgency, banditry, kidnapping, herdsmen-farmers clash and the rest of them. As outrageous as this might sound, know that none of these vices started overnight; they were birthed, nurtured, and groomed into the monster they have become by us. Insurgency in the Northeast didn’t start all of a sudden. If you don’t know how Boko Haram started, I suggest you research that and see how it was enabled and used by the community and political leaders, respectfully. What about kidnapping as a source of income? Do you remember how the Niger-Delta militants introduced that culture and how it was ignored until it got out of hand? Then we thought they were dealing with expatriates, later with oil companies, and then with the government. We never knew the monster would grow to haunt us all. We didn’t condemn the act then because we felt it was “not our business.” So now that the bandits in the Northwest have discovered this wicked act as a better way of (making money?) banditry, what has been done about it besides a governor throwing amnesty at them and a religious leader demanding for their “blanket amnesty”? Or will this become a tradition also?
There is no need to point out all the vices that are overlooked in this country for it to be understood that they are being accepted into our culture. The only fearful thing is that the younger generation may come up to see them as norms. And when something becomes a norm, it is already part and parcel of that community. Then, it becomes difficult to uproot because the people will identify with and claim it is their way of life. This is why you should do the much you can to make positive changes in your community.
In the past, Nigeria has had to grapple with the challenges of governing a multicultural society. Being the most populous black nation on earth, and a country of more than 200 ethnic groups, her leaders have battled with the issue of endemic corruption which has eaten into the fabrics of its institutions.
Although the world recognises Nigeria for her title as the giant of Africa (perhaps due to her population), it’s pitiable that her citizens think that the title is just a consolation. There are other African countries which have significantly grown and managed their economies well than Nigeria. Despite the fact that Nigeria has so many untapped natural and human resources, as well as one of the largest producers of crude, this doesn’t reflect on the citizens.
The citizens see elections as a battle to control resources. The country where its minimum wage is among the lowest in the world has its legislators being paid among the highest in the world, even more than the developed countries. Instead of investing in the country, we have seen her leaders embezzle money and store in oversea accounts. They send their children and relatives to other countries for their education and healthcare, while the facilities in their country dilapidated.
More than ever, an average Nigerian is looking for a way to leave the country. In every part of the world, you will find Nigerians. To them, as long as they leave the country, they are fine. Perhaps, this is why Nigerian citizens are the most suspected in foreign countries. At airports, your identity as a Nigerian would make you be searched almost 10 times. Talented Nigerians who get sponsored overseas or travel due to their affluence, are always honoured. Some of them are legislators and diplomats overseas, which they wouldn’t have gotten if they were in Nigeria due to a failed system and lack of transparency. However, it is easier to destroy than to build.
Although there are many Nigerians who are breaking limits and achieving notable feats overseas, the few who are not are making the country to be talked about negatively. While the aged men do not want to leave offices for the younger generation, the youths are also acting on what they have observed from their crooked leaders. Some of them have digitized their corruption through online fraud (popularly known as 419 or Yahoo Yahoo). It’s no wonder that the Central Bank of Nigeria recently banned the country’s financial institutions from every activity that supports cryptocurrency.
As some honourable Nigerians overseas try to do good works, it has been a long fight to rebrand the image of the country. Sometime ago, we saw some countries restrict Nigerians from applying for certain jobs, and even coming into their countries. The country has been referred to as one that lacks the wisdom to manage its resources, when landlocked countries that do not have a quarter of the resources Nigeria has are among the wealthiest in the world. For Nigeria, she has been known to be among the most corrupt countries, and the most unsafe countries. Despite being known as one of the most religious countries, the citizens are known to be among the happiest in the world – not because they have a good quality of life; they are laughing while suffering. Moreover, the human right abuses by its top leaders, even her military and police, has made it nearly impossible for her citizens to speak up due to the fear of being prosecuted, or arrested without trial.
In recent times, the issue of insecurity has become a regular story on tabloids, as the Boko Haram sect which mainly controls part of the sambisa forest in the country’s North Eastern state of Borno has remained undefeated. Although there have been claims by some of the Nation’s leaders that everything is under control, the truth remains that these terrorists are living well, and waxing strong everyday. Despite the huge investment by the country every year on foreign armoury to curb the insurgence, it has remained futile. It is sad to note that the fight against these insurgents has lasted for 10 years, and nobody sees the result to show that the country had indeed spent millions of dollars.
Nigerian leaders
There had been donations by foreign countries and groups to no avail, hence making her citizens think that the government is hiding something from the public about these terrorists and their agenda. And now, the North East has been visited by these terrorists and their factions. Unlike before when they operated in Borno, now, their presence is seen in Yobe, Adamawa, and the boundary areas of Chad.
How about the Fulani herdsmen? For some time, the activities of these herdsmen whom the Nation’s leaders had termed as foreigners had continued to be a point for debate. For years, states watched the Federal government do nothing significant to stem the conflicts arising from the herder-farmer clashes, hence making some citizens take laws into their hands to defend their ancestral homes and families.
Cows were freely allowed to roam the streets and farms of citizens everywhere, thus becoming a bone of contention. There were stories on the molestation and killing of citizens who opposed the grazing activities of the herdsmen, and nothing significant was done about it. The herdsmen were not restricted, neither were they declared as terrorists. The silence by the nation’s top leaders emboldened these herdsmen to continue their nefarious activities, even as they were empowered to carry AK 47. At a point, the North Central States of Nasarawa, Plateau, Kogi, and Benue witnessed bloodbaths arising from these clashes.
Then came the Bandits. At first, everyone thought they were homeless youths trying to raise awareness of abandonment by the government. Some people had thought they would be like the legendary Robinhood who robbed the rich to feed the poor. However, it was not so, as the poor were the victims.
These bandits who have become majorly in control of the North Western States of Nigeria, have continued to wax strong by the day. This time, they target students by kidnapping them. They have also managed to make the government always pay ransom to have their hostages freed. This is an area of concern and something to worry about. At the moment, the country is in huge debt to international organizations and countries.
It had even begun selling off its assets to raise funds. If the country continues to pay ransom to these bandits and terrorists, it may paint a picture that kidnapping is a profitable business to do, and will even embolden them to kidnap more, of which the country may find it difficult to sustain overtime. Schools are no longer safe, even our Farms, as we have to deal with the bandits and the herdsmen. At first, Boko Haram kidnapped girls at a school in Chibok, and later on in Dapchi. This time, the kidnapping had extended to Kankara in Katsina state (where over 300 school boys were abducted), and Kagara in Niger state (where 42 persons were kidnapped as well). The most recent is the Jangebe abduction in Zamfara State where 317 school girls were abducted.
According to SB Morgen, a Lagos-based geopolitical research consultancy, at least $11million was paid to kidnappers between January 2016 and March 2020. That number would have increased by a greater margin now. Reports have it that the Katsina state government had paid $76000 (N30 million) as ransom for the abducted boys.
With the recent issues arising, if drastic measures are not taken, Nigeria may have to face a greater problem than Libya and Syria. With the renewed agitations for a separatist state of Biafra in the South East, community demonstrations against herdsmen activities in the South West, and growing national social unrests (as seen from the #EndSars protests), these could be more than the nation could handle. Prior to this time, the Niger Delta Militants were the major forces in the South South, but had long been pacified, thanks to the amnesty program of the past administration.
Nigeria police continues to struggle to maintain peace
The time has come for the nation’s leaders to come together to develop the country. Otherwise, there may be more deadly militia groups in other parts of the country. If nothing significant is done about this, the country may become a failed state, leading to its eventual dissolution.
The issue of unemployment should be addressed, so that these youths can be gainfully employed. There is a saying that an idle mind is the devil’s workshop. There is no other time to fix the nation than now.
‘It would be better if Nigerian leaders always speak the truth to their citizens. They should call a spade a spade, and not a garden spoon’ ~ Godswill Ekwughaonu
If the country’s religious and political leaders continue to fan the embers of war through hate speech, that alone can ignite the fire that will raze everywhere. The country should learn from other countries who thought they were too big to fail. A word for the wise is enough, for to before warned is to before armed.
Several months after watching painfully as TikTok sweeps the tide of the short video sharing space, Facebook has launched BARS, an app which allows rappers to create and share their raps using professional tools.
It marks a second music video app created by Facebook recently. Late last year, the social media platform publicly launched its collaborative music video app, Collab, as part Facebook’s Internal R&D group, NPE Team, which tests new ideas that could influence Facebook’s next steps on social media projects.
Collab focuses on making music online with others, while BARS helps would-be rappers to create and share their own videos using an online studio.
TechCrunch explained that the app helps users to select from any of the hundreds of professionally created beats, then write their own lyrics and record a video. BARS can also automatically suggest rhymes as you’re writing out lyrics, and offers different audio and visual filters to accompany videos as well as an autotune feature.
Among other exciting features of the BARS is the “challenge mode”, where you can freestyle with auto-suggested word cues with a touch of a game-like element.
The app is designed to serve a fun purpose for those who just want to freestyle with auto-suggested word cues. TechCrunch said the videos can be up to 60 seconds in length and can be saved to your Camera Roll or shared out on other social media platforms.
The significant growth recorded by tech companies offering stream, video and teleconferencing services during the COVID-19 lockdowns was undoubtedly a factor in Facebook’s NPE’s push to create new video apps.
“I know access to high-priced recording studios and production equipment can be limited for aspiring rappers. On top of that, the global pandemic shut down live performances where we often create and share our work,” said a member NPE Team, DJ lyler.
Interest in binge-watching content grew significantly in the midst of the pandemic with 70% of marketers looking up their investment in videos.
Besides huge gains recorded by other tech companies during the lockdown, TikTok’s success so far has become an intimidating challenge to Facebook. With its feature that allows users to create video contents, the short video app has captured a diverse crowd of talents who have become popular delivering creative contents on the app.
Despite the controversies that have trailed the app particularly in the US and India, it has recorded tremendous growth that makes Facebook wary.
As of 2021, TikTok is one of the world’s most loved apps, especially among young people. TikTok has a monthly user record of 100 million in the US, more than 689 million internationally and 6 billion lifetime downloads as of December 2020, according to data from Sensor Tower. TikTok recorded 29% over Facebook’s Instagram 25% as young people’s most preferred social media app in 2020.
Facebook, which has been desperately seeking to grab more market share with video apps has been chasing after every successful video idea.
TechCrunch said BARS resembles TikTok in terms of its user interface. It’s a two-tabbed vertical video interface – in its case, it has “Featured” and “New” feeds instead of TikTok’s “Following” and “For You.” And just like TikTok, it places the engagement buttons on the lower-right corner of the screen with the creator name on the lower-left.
This is the work of a legend: Warren Buffett’s company wrote down $11 billion on its 2016 purchase of Precision Castparts which has been severely wounded due to the paralysis in the aerospace sector [Boeing aircrafts decommissioning due to defects, reduced orders associated with Covid lockdowns] . Yet, the company’s net profit rose 23% in the fourth quarter, to $35.8 billion. Many people have preached the market-sermons that the pandemic-fueled lockdowns benefited technology companies. Yet, from the Berkshire Hathaway’s data, it is evident that the American magic can work in any sector or domain. There is something evident here: ample diversification of a portfolio.
Warren Buffett’s trains struggled with the covid-19 paralysis but in my estimation, its insurance business made tons of money, since lockdowns practically meant there were limited accidents since people were not on the roads. Yet, despite having those cars parked at homes, people paid premiums which are required by most state laws. So, the premiums were paid but accidents did not happen, meaning that claims were not leaving the treasury of Buffett’s empire. Those reduced claims are part of the huge profits recorded by the firm.
Head, you win. Tail, you win. That is the cornerstone of a balanced portfolio with the $120 billion Apple investment supporting!
Billionaire investor Warren Buffett’s record buyback spree of his own conglomerate’s stock is continuing in 2021, and he’s acknowledging a “big mistake” in his annual letter to investors. Buffett says Berkshire Hathaway bought back about $9 billion of its own shares in the fourth quarter, bringing the total 2020 buyback to almost $25 billion. He also acknowledged an “ugly $11 billion write-down” stemming from the purchase of an aerospace parts company in 2016. Buffett warned that the fixed-income market faces a “bleak future,” but he reassured investors to “never bet against America.”
Of course, Warren Buffett is also well loaded on technology via Apple. “Berkshire’s $120 billion investment in Apple Inc. stock has become so valuable that Buffett places it in the same category as the sprawling railroad business he spent a decade building. He began building a stake in the iPhone maker in 2016, and spent just $31.1 billion acquiring it all. The surge in value since then places it among the company’s top three assets, alongside his insurers and BNSF, the U.S. railroad purchase completed in 2010, according to the annual letter.”
Good People, join me and Team Fidelity Bank PLC as we discuss Diaspora Investment, Central Bank of Nigeria FX Policy and more. I have invested in about 33 companies in four continents – and the data is clear: Nigerian investments have outperformed.
Let’s have a conversation because when you look at those factors of production, CAPITAL is very critical to unlock the ability to create products and services to fix market frictions. Nigeria needs capital to bring those solutions to institutionalize hope and abundance across communities. And the financial high priest of our economy, CBN, has made calls; the last FX policy, I think, is right on the money! Yes, great calls, great economy, and a greater Nigeria.
Saturday, March 06, 2pm WAT – register free and join us.
