ASUU strike, fall out of imperfect federation –Fashola


Lagos State Governor, Mr. Babatunde Fashola, on Thursday blamed the lingering strike by the Academic Staff Union of Universities (ASUU) on the nation’s faulty constitution.
He described the strike as manifestation of an imperfect federation. The governor, who spoke at an occasion marking his 800 days in office, remarked that the federation, as currently being run by the Federal Government has failed to recognize the autonomy of each state as federating units, competent to take decisions without any adverse consequences from decisions taken by the Federal Government.

Fashola wondered why disagreement between employees of government in federal universities should paralyze activities in state universities when there are no labour disputes with states authorities.
“Why should every university lecturer, whether employed by the state or the federal universities earn the same wage?
What happened to freedoms of contract? What happened to the principles of competitive advantage in economics?” he queried.

Fashola noted that it is not possible for government to continue to fund education the way it does and attract the best equipment and brains. “Should we develop a process of guaranteed scholarships for indigent students while those who can afford to do so pay a fair fee in order to guarantee autonomy to universities and provide funding for them?” he asked.

He pointed out that frequency of strikes, uncertainty in academic calendar and how they affect planning and capacity to create jobs in the public and private sectors are issues that require the attention by policy makers.
As for Lagos State, the governor said the problem confronting his government is monumental.
He added that his administration has been grappling with a deficit of infrastructural renewal of the past 30 years. Fashola noted that it is impossible to solve in just two years what was left undone in the last 30 years.
Fashola disclosed that the ‘Area Boys’ syndrome in the state is now a thing of the past as that they have been gainfully employed by government and are now responsible for sweeping the streets at the nights, clearing drainages and
beautification exercises.

Congressman Jefferson convicted:••• I’m Vindicated – Atiku

Former US congress man, William J. Jefferson, 62, representing a district in the New Orleans, but whose freezer was said by federal agents to be stuffed with cash has been convicted.
He was accused of using his office to enrich himself and relatives through a web of bribes and payoffs.

The case which was decided on August 5, stemmed from his efforts to promote contracts in Africa for Gate, a small digital-technology company based in Louisville, Ky. The congressman has been influential on African issues in his years in the House.

Jefferson was found guilty of 11 out of 16 counts charges of bribery-related crimes. The jurors rejected defense assertions that Mr. Jefferson’s business-promotion activities in Africa did not qualify as ‘official acts’ under public corruption laws.

Mr. Jefferson led official delegations to Africa, wrote letters to American and foreign officials and had members of his staff promote ventures in which he had a financial interest, the prosecutors maintained. The ventures were in Nigeria, Ghana and Equatorial Guinea. While he sought millions of dollars in bribes, Mr. Jefferson may have actually received less than $400,000, the government said.

The government’s case relied in part on former Jefferson aides and business associates who pleaded guilty and agreed to testify against him. Mr. Jefferson did not testify in his own defense, and Judge Ellis cautioned the jurors that they were not to hold that decision against the defendant. Mr. Jefferson faces a long prison term, unless his conviction is overturned on appeal.

As it unfolded over several years, the Jefferson case set off a government battle of constitutional proportions. In May 2006, federal agents raided Mr. Jefferson’s Congressional office, the first time that the office of a sitting member of Congress had been searched, leading to an outcry from some Republicans, as well as Democrats.

In June 2006, House Democrats voted to remove Mr. Jefferson from the Ways and Means Committee until his case was resolved. Even at that, the investigation became an embarrassment for a party trying to make Republican ethical lapses, a major issue in the fall campaign. Jefferson’s constituents were less disturbed, however, and he was reelected in November. His support faltered in 2008. He lost his seat to a Republican lawyer, Anh Cao, on December 7 in an election that was delayed because of Hurricane Gustav.
In other hand, Former vice president, Atiku Abubakar has applauded the judgment of the jury in the US which convicted former congressman, William Jefferson, of bribery and corruption but acquitted him on the charge of planning to compromise Atiku.

“The United States government was unable to prove a bribe scheme involving Atiku because none ever existed. Atiku Abubakar was another victim of Jefferson’s scheming. Under the corrupt foreign practices act, and in accordance with the judge’s instructions, the jury could have found Jefferson guilty of violating the Foreign Corrupt Practices Act merely by making an offer of payment to the vice president. The money in the freezer spoke for itself—this case has nothing to do with the former vice president.”
In a statement issued by the Atiku media office in Abuja, Abubakar said the acquittal of Jefferson on the charge of bribery vindicates his position over the years that he never had any improper relationship with the former congressman.

“I have consistently maintained that I had no improper relationship with former Congressman Jefferson. My relationship with him was purely official and it was in an effort to attract foreign investors to Nigeria.
“Congressman Jefferson was chairman of the House Committee on Nigeria and the request to meet him came from the Nigerian Embassy. His proposal for investment in the Nigerian communications sector was passed to the minister of Communications.
“I am glad that the judgment has confirmed that I had no improper relationship with him. God has shamed the devil and cleared the innocent.

“The judgment has also finally unraveled one of the biggest conspiracies in Nigeria’s political history, the plot to humiliate me and to stop me from contesting the 2007 presidential election. It is now clear that, that plot was hatched at the highest level of the Nigerian government then in collusion with foreign agencies.
“The plot was not just to stop me from running for the presidency, it was aimed at denying the Nigerian people the right to choose their own leaders.

“In Wednesday’s judgment, the jury acquitted Jefferson on the allegation of ‘violation of the Foreign Corrupt Practices Act’. Jefferson had allegedly been caught on tape discussing with his business partner, Lori Mody, about the possibility of bribing Nigerian Vice President, Abubakar and other Nigerian officials. The charge included transfer from Mody of $100,000 that Jefferson said was intended as a bribe to Nigerian Vice President Abubakar.

“Jefferson denied the charge during trial. He admitted collecting the $100,000 from US businesswoman, Mody, but said it was to placate a woman who desperately wanted the business to succeed. Atiku had also consistently denied the charge, saying no discussion about money or bribe featured during his brief meeting with Congressman Jefferson in Maryland.

“Jefferson had been quoted by the FBI as telling businesswoman Mody that he handed over the ‘African Art’, (taken to mean the money) to Atiku during a meeting. The FBI had raided Atiku’s wife’s residence in Maryland on the strength of the claim but the agency found no money.

“Of the $100,000, a total of $90,000 was found hidden in the freezer at the residence of Jefferson . Another $5,000 of the amount had been given out by Jefferson to one of his staff who had financial difficulties.
“The vice president strongly believes in and is committed to the rule of law and an independent judiciary as pillars of democracy. Vice President Abubakar appreciates the jury’s thoughtful consideration of the evidence presented and expresses his continuing confidence in the US, judicial system.”
The judgment on Wednesday has finally brought to a close this highly politicized case of a troubled Congressman ensnaring everyone he came in contact with.

Dangote Elected NSE President by ‘Unanimous Acclamation’


Business mogul and Fou-nder of Dangote Group, Alhaji Aliko Dangote, yesterday emerged President of the Nigerian Stock Exchange (NSE) following his election by the Council of the Exchange.
Speaking after the Council meeting, the Director-General of the NSE, Prof. Ndi Okereke-Onyiuke, said: “The new president was elected by a unanimous acclamation. The first person to have enjoyed that rare privilege was a white person.”
Although she did not name the person in question, she said: “We are very happy to present these gentlemen to you. In my capacity as the chief electoral officer, I present to you the President and Chairman of Council of the NSE, Alhaji Aliko Dangote. Our new 1st Vice-President is Alabo Reginald Abbey-Heart and the 2nd Vice-president is Dr. Erastus Akingbola. The new president was elected by a unanimous acclamation. Everybody agreed that he should be our new president.”
Dangote joined the Council of the NSE in February 2008 as the Chairman of Kaduna/Kano/Yola Zonal Council. As the new president, he will preside over the affairs of the Exchange for the next three years.
In his reaction, Dangote said: “I want to say thank you for your support during and after my election. I will continue to seek your support to see how we can move this market forward. I want to assure you that this market will rebound very soon. What we need to do is to provide liquidity, once we do that, investor confidence will be restored and the market will take a new twist. This is possible because our quoted companies are reporting positive results. What we need is liquidity and we will do our best to provide liquidity.”
Earlier in his report to dealing members, Otudeko said despite the global financial meltdown, the Nigerian capital market fundamentals remain strong as shown by strong corporate earnings, high dividend payout and bonuses declared by quoted companies.
“I am glad to remark that during my tenure, efforts made to deepen the stock market achieved some degree of success. For instance, the Exchange facilitated a landmark transaction that led to the successful issuance of Global Depository Receipts (GDR) by Diamond Bank Plc and GTBank Plc on the London Stock Exchange thereby expanding the financing options for our listed companies,” he said.
Otudeko also noted that the NSE listed the first Real Estate Investment Trusts (REITs) on February 28, 2008, while five tradable indices were launched in the first quarter of 2009.
“I leave office today with gratitude to God leaving behind a repositioned, reinvented, more confident and especially peaceful Exchange, convinced that the vision of the Exchange becoming the leading stock exchange in the Africa region as well as the expectations of all our stakeholders, will sooner than later be realised,” Otudeko said.
He appealed to all stakeholders to keep the Exchange sacred and peaceful, urging them to protect it and advance its standards and practices.
“I urge you to extend your support and cooperation to our emerging President and Council as they assume the fresh mantle of leadership, determined to take our market to the next level,” he said.
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