Click on the link below to view Honorable Herman Hembe's memo submitted to the house today 20th march 2012
http://www.scribd.com/doc/86129195/Herman-Hembe-House-Memo-pdf
Tuesday, March 20, 2012
HERMAN HEMBE AND ARUNMA OTEH FACEOFF
"the child who peeps through the keyhole instead of asking questions, knows only his version of the story"
Politics as a game is thicker than water, and its relations run deep. Politics has an unforgiving spirit and usually always ready to compensate ones losses and failures and ego. This vista of thought was clearly exhibited by former President Olusegun Obasanjo, when he decided on the late Umaru Yar'Adua the junior brother of his one time close friend and Vice President the late Shehu Musa Yar'Adua as the PDP presidential candidate in 2007. Enough of the history, that'll be an analytic summary for another day.
Aruma Oteh's story has a brief genesis with the man known as Masur Muhtar, who was minister of finance during the late Umaru Yar'Adua tenure as the President of the Federal Republic of Nigeria. Her recommendation was made by Mansur Muhtar who was an executive Director of AfDB in Tunis between 2001 until his appointment as finance minister in December 2008 while Arunma Oteh was Vice President for corporate management here in Nigeria, appointed in march of 2006. Having worked in other capacities in different organaisations, the AfDB umbrella was one association that helped further the career of Arunma Oteh. After being nominated as the DG of the SEC in July 2009 she was finally confirmed and became the DG of the SEC in January 2010
As for Iorwase Herman Hembe who hails from Benue state representing Konishasha/ Vandeikya constituency, little is known about him aside his venture into politics and and his most recent now infamous accusations which have put him on the public stage. As the chairman of the committee set up to investigate the activities of the Securities and Exchange Commision. Herman Hembe accused Arunma Oteh of spending 850,000 Naira in one day on food to 30million Naira hotel accommodation fees, and other excesses. The Securities and Exchange Commission (SEC) Director General (DG) quickly turned the tables by questioning the credibility of the panel chairman Herman Hembe who she in turn accused of soliciting for 39million and an added 5million for the smooth running of investigations during the probe. According to Arunma Oteh, her adamant refusal to his request became the reason for the unfair and biased treatment by Herman Hembe, the chairman of the panel. She also made mention of his supposed trip to a conference in the Dominican republic in Oct of 2011 which was funded by the SEC and Herman didn't attend. Giving the level of accusations leveled against him, Herman stepped down as the chairman of the committee on capital market probe, today the 20th of march 2012.
Though a UNN (University of Nigeria Nsuka) first class computer science graduate and MBA holder from Harvard Business School, Arunma Oteh is no saint. She has successfully seen to the shameful ousting of Herman Hembe as chairman of the panel, the first so far since panels have been setup to investigate different sectors of the Nigeria's economy this year. The core truth of what actually transpired between Herman Hembe and Arunma Oteh remains cloudy at the moment as the public washing of dirty linen continued today with counter accusations by Herman Hembe against Arunma Oteh. Hembe tried to plead his case by claiming innocence at the same time throwing the ball of accusation back to Oteh during the sitting of the house of representatives today in Abuja, and also submitting a memo which he claims originated from the SEC. The resolution at the end of the session was the innauguration of an a new Ad-Hoc committee to be chaired by Ibrahim Tukur El-Sudi from Taraba State. A time frame of 21days has been given the new committee to investigate and report back to the house on their findings. alongside, the house committee on ethics will also be investigating the Herman Hembe committee on the allegations of bribery within a 14day time window.
As everything else seems uncertain, the dogged attitude of Arunma Oteh is nothing but sure.
Politics as a game is thicker than water, and its relations run deep. Politics has an unforgiving spirit and usually always ready to compensate ones losses and failures and ego. This vista of thought was clearly exhibited by former President Olusegun Obasanjo, when he decided on the late Umaru Yar'Adua the junior brother of his one time close friend and Vice President the late Shehu Musa Yar'Adua as the PDP presidential candidate in 2007. Enough of the history, that'll be an analytic summary for another day.
Aruma Oteh's story has a brief genesis with the man known as Masur Muhtar, who was minister of finance during the late Umaru Yar'Adua tenure as the President of the Federal Republic of Nigeria. Her recommendation was made by Mansur Muhtar who was an executive Director of AfDB in Tunis between 2001 until his appointment as finance minister in December 2008 while Arunma Oteh was Vice President for corporate management here in Nigeria, appointed in march of 2006. Having worked in other capacities in different organaisations, the AfDB umbrella was one association that helped further the career of Arunma Oteh. After being nominated as the DG of the SEC in July 2009 she was finally confirmed and became the DG of the SEC in January 2010
As for Iorwase Herman Hembe who hails from Benue state representing Konishasha/ Vandeikya constituency, little is known about him aside his venture into politics and and his most recent now infamous accusations which have put him on the public stage. As the chairman of the committee set up to investigate the activities of the Securities and Exchange Commision. Herman Hembe accused Arunma Oteh of spending 850,000 Naira in one day on food to 30million Naira hotel accommodation fees, and other excesses. The Securities and Exchange Commission (SEC) Director General (DG) quickly turned the tables by questioning the credibility of the panel chairman Herman Hembe who she in turn accused of soliciting for 39million and an added 5million for the smooth running of investigations during the probe. According to Arunma Oteh, her adamant refusal to his request became the reason for the unfair and biased treatment by Herman Hembe, the chairman of the panel. She also made mention of his supposed trip to a conference in the Dominican republic in Oct of 2011 which was funded by the SEC and Herman didn't attend. Giving the level of accusations leveled against him, Herman stepped down as the chairman of the committee on capital market probe, today the 20th of march 2012.
Though a UNN (University of Nigeria Nsuka) first class computer science graduate and MBA holder from Harvard Business School, Arunma Oteh is no saint. She has successfully seen to the shameful ousting of Herman Hembe as chairman of the panel, the first so far since panels have been setup to investigate different sectors of the Nigeria's economy this year. The core truth of what actually transpired between Herman Hembe and Arunma Oteh remains cloudy at the moment as the public washing of dirty linen continued today with counter accusations by Herman Hembe against Arunma Oteh. Hembe tried to plead his case by claiming innocence at the same time throwing the ball of accusation back to Oteh during the sitting of the house of representatives today in Abuja, and also submitting a memo which he claims originated from the SEC. The resolution at the end of the session was the innauguration of an a new Ad-Hoc committee to be chaired by Ibrahim Tukur El-Sudi from Taraba State. A time frame of 21days has been given the new committee to investigate and report back to the house on their findings. alongside, the house committee on ethics will also be investigating the Herman Hembe committee on the allegations of bribery within a 14day time window.
As everything else seems uncertain, the dogged attitude of Arunma Oteh is nothing but sure.
Tuesday, March 6, 2012
THE SURE-P FAIRYTALE
"when the foundations are destroyed, what can the righteous do"
The actual blueprint for the effective implementation of the SURE-P government initiative is under the calculation that the sum of 1.134 trillion will be saved by the complete removal of fuel subsidy. This figure is obtained based on the average international price of crude oil to be $90 per barrel, in relation to the consumption here in Nigeria. The breakdown of the sharing formula provides the federal government the sum of 478.49 billion naira, the local governments will recieve 203.23 billion naira, the federal capital territory, 9.8 billion naira while the development of natural resources and stabillization funds will recieve the sum of 31.37 billion naira.
Already the Subsidy Reinvestment and Empowerment Program (SURE-P) suffering from a lack of funds, is no more shameful than the actually cook up of the program itself. The timing for the application of the poorly calculated program by the federal government brings to full color the waste of resources employed in some government parastatal think tanks, who rarely see beyond their belly and bank accounts to accurately plan a 4 year program, which will effectively have a plus or minus clause, giving the known function of considerable fluctuation in the world economy and as it affects the Nigerian economy in relation to changes in national policy and scale of preference selection of top priority needs of the nation.
The calculated figure of 1.134 trillion naira, drastically reduced to 426 billion naira due to the failure of the government to convince Nigerians to pay 141 naira per liter pump price for PMS. This first wrong calculation by the government already points at an inefficiency of those behind the SURE-P, (Subsidy Reinvestment and Empowerment Program) who failed to realize the lack of feasibility of the acceptance of 141 naira per liter by the Nigerian populace.
With a plate full of where and how to judiciously invest the bulk of 426 billion naira, the SURE-P management will have quite a difficult time creating lasting impressions with such an amount compared to the 1.134 trillion promised them. This certainly will reduce the impact of works that can be done to an appreciable level, which on the long run spells doom and ultimate demise of the SURE-P.
In a case of eventual collapse and failure of the SURE-P, it indeed will be story of dishonor for the individual members of the SURE-P board whose high standard of discipline and morals earned them the respect of Nigerians, cos knowingly or unknowingly the government simply used them as propaganda pawns.
Click on the link below to download a PDF copy of the Subsidy Reinvestment and Empowerment Program (SURE-P) booklet.
http://www.scribd.com/oladebo/d/84105335-Subsidy-Reinvestment-and-Empowerment-Program
The actual blueprint for the effective implementation of the SURE-P government initiative is under the calculation that the sum of 1.134 trillion will be saved by the complete removal of fuel subsidy. This figure is obtained based on the average international price of crude oil to be $90 per barrel, in relation to the consumption here in Nigeria. The breakdown of the sharing formula provides the federal government the sum of 478.49 billion naira, the local governments will recieve 203.23 billion naira, the federal capital territory, 9.8 billion naira while the development of natural resources and stabillization funds will recieve the sum of 31.37 billion naira.
Already the Subsidy Reinvestment and Empowerment Program (SURE-P) suffering from a lack of funds, is no more shameful than the actually cook up of the program itself. The timing for the application of the poorly calculated program by the federal government brings to full color the waste of resources employed in some government parastatal think tanks, who rarely see beyond their belly and bank accounts to accurately plan a 4 year program, which will effectively have a plus or minus clause, giving the known function of considerable fluctuation in the world economy and as it affects the Nigerian economy in relation to changes in national policy and scale of preference selection of top priority needs of the nation.
The calculated figure of 1.134 trillion naira, drastically reduced to 426 billion naira due to the failure of the government to convince Nigerians to pay 141 naira per liter pump price for PMS. This first wrong calculation by the government already points at an inefficiency of those behind the SURE-P, (Subsidy Reinvestment and Empowerment Program) who failed to realize the lack of feasibility of the acceptance of 141 naira per liter by the Nigerian populace.
With a plate full of where and how to judiciously invest the bulk of 426 billion naira, the SURE-P management will have quite a difficult time creating lasting impressions with such an amount compared to the 1.134 trillion promised them. This certainly will reduce the impact of works that can be done to an appreciable level, which on the long run spells doom and ultimate demise of the SURE-P.
In a case of eventual collapse and failure of the SURE-P, it indeed will be story of dishonor for the individual members of the SURE-P board whose high standard of discipline and morals earned them the respect of Nigerians, cos knowingly or unknowingly the government simply used them as propaganda pawns.
Click on the link below to download a PDF copy of the Subsidy Reinvestment and Empowerment Program (SURE-P) booklet.
http://www.scribd.com/oladebo/d/84105335-Subsidy-Reinvestment-and-Empowerment-Program
Monday, March 5, 2012
ONLY A MATTER OF TIME
"a flying bird can drop whitewash on the fore head of a walking man. This describes the law of senseless violence on the basis of random probability, and gives life to the phrase shit happens "
The boko haram menance has become as recurrent as government expenditure and doesn't seem to be going away anytime soon, except of cos some affirmative and definite measure's are set in place to gradually curb the already out of control situation.
With Nigeria divided into six geo-political zones, boko haram has its major share of activity in the north east, north west and north central regions. Within this areas, they operate freely, pray openly, distribute flyers, send letters, grant telephone and one on one interviews and release online videos. Rob banks, bomb police stations, churches, burn schools, kill and maim innocent people, and still have time to break inmates from jail, ambush security formations and disengage them of their weapons, setup bomb making factories, recruit suicide bombers and bike riding assassins. After all this hard work, they sometimes get to relax in fully protected government lodges too.
Despite the wanton violence going on within the boko haram controlled region, their network seem to exclude the south south, south east and south western regions. The south south and south east already a militant stronghold, with MEND (Movement for the Emancipation of the Niger Delta) at the helm of affairs (alongside several splinter groups) surely isn't ready to share territory with any external group as the resources they are fighting for is yet to be fully actualized, which boko haram might not be able to cope with. Any attempt to strike areas within such a volatile region, will be met with stiff resistance. The south western region, which has gradually disaasociated itself from the PDP ruling party by electing gubernatorial candidates of other political parties to run the affairs of the states, have the OPC (Oodua Peoples Congress) which works under the radar, as their actions are less violent in operation than MEND or BOHA (boko haram). Even at that, the stability of the region remains intact, with the exception of armed robbery operations which still happen time to time.
With BOHA yet to make clear their demands as to reasons for the almost daily bombings, its now a question of time, how long will BOHA continue to operate within the north east, west and central regions before they become overconfident of their success within the terrain and make attempts to spread their wings of operations to other regions?
The BOHA time bomb is better defused than allowed to detonate as the containment of its ripple effects might just be an end no one wants to witness.
Friday, March 2, 2012
NIGERIAN SENATE & THE FRSC MAGIC NUMBER PLATES
"one who believes himself too intelligent fears to ask a seemingly unintelligent question, but the layman has no fear in his asking, as the intelligence of the oppressor will fail to answer his pain"
With so much criticism accrued the imposed new and more expensive number plates on Nigerians, the cries and complains somehow found its way to the senate house in Abuja. Though delayed, but necessary intervention has finally arrived.
Looking at the senate through the vista of post subsidy protests, its evident a proactive spirit has visibly awakened within the loins of the 7th assembly senate house. Its impressive the constructive arguments the sessions of the senate has witnessed in most recent times, looking to have moved away from frivolous matters such as legalizing prostitution to actually doing the work of legislating and being intermediary for the Nigerian citizen. Speaking of most recent issues such as the subsidy probe, the Nigerian Football Association inquiry and the ban on same sex marriage.
Not to blow trumpets of success yet as much still remains to be done, but the senate directive instructing the FRSC to stop production and sale of its controversial modified number plates which is not only questionable but also a fraudulent scheme conceived by the Federal Road Safety Corps is more than a welcome development. The new plate numbers have little difference save the reversal of the alphabets and the embossing of the map of Nigeria on it. The numbering system remains the same, so also the size and design.
With the usual elaborate explanations Nigerians are fed with whenever a fraudulent act is cooking, the FRSC came up with numerous stories about security features and central data systems and other variations of the popular cock and bull stories and promises. Its amazing how a group of learned people sit around a table and come up with ideas such as the new plate numbers, pat themselves on the back, sell the idea to a few other people (who wouldn't tell them the truth about how wrong it is) and finally unveil it to the public and expect the general populace to swallow, hook line and sinker.
Now beaten to the wall, the FRSC would have to explore other options from its think tank to achieve a considerable percentage of the challenges the miracle plate numbers and licences should have angelically combated to a stand still.
With so much criticism accrued the imposed new and more expensive number plates on Nigerians, the cries and complains somehow found its way to the senate house in Abuja. Though delayed, but necessary intervention has finally arrived.
Looking at the senate through the vista of post subsidy protests, its evident a proactive spirit has visibly awakened within the loins of the 7th assembly senate house. Its impressive the constructive arguments the sessions of the senate has witnessed in most recent times, looking to have moved away from frivolous matters such as legalizing prostitution to actually doing the work of legislating and being intermediary for the Nigerian citizen. Speaking of most recent issues such as the subsidy probe, the Nigerian Football Association inquiry and the ban on same sex marriage.
Not to blow trumpets of success yet as much still remains to be done, but the senate directive instructing the FRSC to stop production and sale of its controversial modified number plates which is not only questionable but also a fraudulent scheme conceived by the Federal Road Safety Corps is more than a welcome development. The new plate numbers have little difference save the reversal of the alphabets and the embossing of the map of Nigeria on it. The numbering system remains the same, so also the size and design.
With the usual elaborate explanations Nigerians are fed with whenever a fraudulent act is cooking, the FRSC came up with numerous stories about security features and central data systems and other variations of the popular cock and bull stories and promises. Its amazing how a group of learned people sit around a table and come up with ideas such as the new plate numbers, pat themselves on the back, sell the idea to a few other people (who wouldn't tell them the truth about how wrong it is) and finally unveil it to the public and expect the general populace to swallow, hook line and sinker.
Now beaten to the wall, the FRSC would have to explore other options from its think tank to achieve a considerable percentage of the challenges the miracle plate numbers and licences should have angelically combated to a stand still.
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