EXCELLENT TRAJECTORY FOR EDWARD ADAMU OF GOMBE AS THE DEPUTY GOVERNOR CBN REPLACES MUIZ BANIRE AT AMCON

Edward Lametek Adamu

Muiz BANIRE, SAN

Seems like there's a wind of change blowing right now across the Government agencies and appointees and all those not well founded, whose roots are not well structured in its path are getting swept away, thrown away, removed or shut out.

Only just yesterday the Federal Government against all the lobbying that was mounted on her, refused to reinstate the former Executive Chairman of FIRS, in the person of Babatunde Fowler, who did all that was humanly possible so as to retain his seat for another 4 year tenure which would have lapsed in 2023, same year that this government/administration of PMB would have also finished her 2nd term too. Fowler's 1st term actually elapsed on Monday, December 9, 2019. He was appointed as the Executive Chairman of the FIRS on August 20, 2015, but his appointment was later confirmed by the Senate on December 9, 2015 hence the date his tenure finished. He had shown his readiness to do a 2nd term so as to be able to consolidate on the results of his 1st term in office, where he had supposedly led the service to raise what was presumed a record breaking revenue over a 4 year span.

Just as Mr. Fowler who is a school mate of the current Vice President Prof. Yemi Osinbajo at Igbobi College has left office now without any visible stain on his person and records yet, one only prays that the mud splashing going about in the same service he has just left behind and that has splashed & stained some of those top officials who used to work with him, who have been accused of monumental fraud to the tune of billions of Naira, would not in anyway splash on him too, to the extent that he could be called by the EFCC to come explain certain actions of his and Co.

Just as many were still grappling with the non renewal of Fowler's tenure and his immediate replacement by a thorough-bred tax guru by the name Muhammad M. Hami, the same wind of change has blown again now over another Government agency and it has removed, unseated the erstwhile Chairman of that agency in the person of Mr. Muiz Banire, SAN a former top chieftain of the ruling APC, who probably has only just spent one year at the most as the boss of the agency. Reason why he might have been removed was not stated in the communique that announced his removal.

But his replacement was immediately named and he is none other than a Deputy Governor of Nigeria's Apex Bank, the CBN in the person of Edward Lametek Adamu, who is an indigene of Gombe state. Mr. Adamu from all indications has had a meteoric rise since the advent of this administration not undeserving though. He only became a Deputy Governor at the CBN in 2018 & after just a year as the Deputy Governor of the apex bank he has now being given more responsibilities as the boss of AMCON, that's the Asset Management Corporation of Nigeria. 

Mr. Edward L. Adamu is a Quantity Surveyor by training. He graduated from ABU Zaria. He is a business Consultant and leadership Strategist also. He has been at the CBN for 27 years since 1992 when he was employed there. He became CBN's Director of Strategy in 2012, then he became the apex bank's Director of Human Resources in 2016. He was nominated as Deputy Governor on February 1, 2018 and was unanimously confirmed on Marc 22, 2018.

His resume reads ABU Zaria, Bachelors in Quantity Survey, Nigerian Institute of Quantity Surveyors, Institute of Credit Administrators of Nigeria, Wharton Business School, INSEAD, Booth School of Business, IMD Switzerland.

He is a father of 4. 

SO SO SAD AS THE HAMMER HAS FINALLY FALLEN & FOWLER IS A GONER!

Babatunde Fowler 

Till Friday of last week, there was still hope against all hope he could still remain, but even at that it was just a 30 to 70% odd. But we were just still expecting that one way or the other that maybe, just maybe that the FG would look more at his outstanding and award winning records on his beat and that maybe that could sway them in their choice to either retain him on the seat to continue or to do away with him and pick another to occupy his seat. But with the news coming out now, it obvious the latter is their preferred choice.

As the Federal Government has decided to pick another person instead by the name of Muhammad M. Nami to replace Babatunde Fowler as the substantive Executive Chairman of the Federal Inland Revenue Service (FIRS), to jump off where the tax guru has ended from.

So it's a new regime entirely now at the FIRS henceforth and we expect that the new helmsman would bring his own style of management to bear on the agency. Truth be told, FIRS would miss Mr. Babatunde Fowler a whole lot. It was a roller-coaster of a time at the Service while it all lasted, as the brilliant and award winning tax guru who had held sway at the same type of position in Lagos State before and helped to reposition the state of aquatic excellence's revenue collection, where from as low as about 30% compliance it went to more than 200%, injected new life, energy and sass into a service that before he took over wasn't anything special.

When he had gotten on board then, many immediately knew that a new order had come and the results he began to deliver not too long afterwards, even as many tax experts felt then he wasn't qualified enough to be at the helm of affairs at FIRS. But as the net spread wider and wider he began to astonish all and sundry. Now that he has been replaced, one hopes that the new helmsman wouldn't allow the revenue service to go back into the doldrums AGAIN. Mr. Fowler reigned for 4 years from 2015 till Monday, today December 9, 2019 when his tenure elapsed.

Muhammad. M Nami, is a thorough-bred tax consultant, who is a graduate of the famous Ahmadu Bello University, Zaria. The new FIRS executive chairman has over 30 years experience in audit, tax, accounting and management. He is a member of several relevant professional bodies. Mr. Nami's appointment is still subject to the approval of the Senate.

By this appointment PMB has finally given voice to reason by appointing a professional tax person to take charge at the service, so maybe now it's a round peg in a round hole finally. 

VANGUARD NEWSPAPER DOES QUICK RETRACTION & APOLOGIZE AS FEAR OF ROBUSTS LITIGATION & DAMAGE PAYMENT LOOMS

Prof. Yemi Osinbajo, VP, Nigeria 

In order not to fall victim to the threat of a very robust litigation against them for publishing what is tantamount to falsehood, one of Nigeria's biggest newspaper brand - Vanguard has done the most honorable thing possible, by issuing with immediate effect a retraction of one of their stories that had painted the current Vice-president of Nigeria, his excellency, Prof. Yemi Osinbajo in very bad light. The retraction also came with unreserved, public apology too.

See the retraction and apology here-

*RETRACTION:*
*APOLOGY TO VP YEMI OSINBAJO*
*ON SEPTEMBER 25, 2019 7:25 PM* *IN NEWS BY VICTOR OGUNYINKA*

*On our website publication of  Monday, September 23, 2019, we published a story titled “N90 Bn FIRS Election* *Fund: Osinbajo’s problem, not 2023 politics.” We have since discovered that the story lacks factual substance and we hereby retract it in its entirety.*

*We tender our profound apology to Professor Yemi Osinbajo SAN, the Vice President of the Federal Republic of Nigeria on whom the story touches directly the All Progressives Congress, A.P.C.* *and the FIRS for any inconvenience or embarrassment the publication has occasioned them.*

*We hold Professor Osinbajo, S.A.N. in the highest esteem.*

*VICTOR OGUNYINKA*

© 2019 Vanguard Media Limited, NIGERIA.

The story as seen above had pointed fingers at the VP, the APC which is the VP's party & a Government institution - The FIRS, manned by the highly resourceful, Babatunde Fowler. One of the sponsors of the highly damaging story is alleged to be a former chieftain of the APC, Mr. Timi Frank who years back had been removed from the ruling party and had since then become a turncoat and a vociferous enemy of party and those now in charge of it.

Prior to the retraction, the solicitors to the VP, led by the Senior Advocate of Nigeria, Mr. Femi Falana had sent a strongly worded warning to the newspaper to do an immediate retraction and tender an unreserved public apology, or be ready to feel the full weight of the law which could result to them paying a very hefty fine.

The VP a legal luminary himself, who is also known to be pastor had confidently said he was ready to waive his immunity to allow for unfettered investigation into the matter, which had grossly insinuated that he had received slush money prior to the 2015 election. In a Twitter text that was authored in its entirety by him, he had said -

"In the past few days, a spate of reckless and malicious falsehoods have been peddled in the media against me by a group of malicious individuals.

“The defamatory and misleading assertions invented by this clique had mostly been making the social media rounds anonymously.

“I have today instructed the commencement of legal action against two individuals, one Timi Frank and another Katch Ononuju, who have put their names to these odious falsehoods.

“I will waive my constitutional immunity to enable the most robust adjudication of these claims of libel and malicious falsehood.

It was after the above that the robust letter from the chambers of Mr. Femi Falana, award winning legal luminary came out. Full text of which is below-

September 24, 2019

Mr. Eze Anaba,
The Editor,
Vanguard Newspaper,
Apapa, Lagos.

Re: N90 bn FIRS election fund, Osinbajo's problem, not 2023 politics-Frank

We are solicitors to Professor Yemi Osinbanjo SAN, the Vice President of the Federal Republic of Nigeria (hereinafter referred to as “our client”) on whose behalf and instructions we write this letter.

Our client’s attention has been drawn to your highly libelous story entitled “N90 bn FIRS election fund, Osinbanjo’s problem, not 2023 politics-Frank” recklessly published in the Vanguard newspaper edition of September 23, 2019.

In the story credited to one Comrade Timi Frank, your newspaper informed your large readership that our client’s travail “has nothing to  do with 2023 but alleged mismanagement of about N90 Billion Naira (sic) released by the Federal Inland Revenue Inland Service (FIRS) to prosecute the last general elections in favour of the APC”.

The false contextual background and specific untrue and defamatory statement include the following:

"The presidency discovered how Osinbajo allegedly mismanaged N90billion from the Federal Inland Revenue Service (FIRS).

When confronted by the presidency, he confirmed to General Buhari that he indeed allegedly took N90billion from FIRS but it was used for the 2019 presidential election campaign in strategic states of the South-west.

Gen Buhari asked for a breakdown of how the money was spent and he said he gave N11 billion to Lagos state APC leader but when the said national leader and one former APC chairman were invited for an explanation, it was confirmed that Osinbajo gave only N5billion and not N11billion to Lagos state.

'The cabal is asking to know how come they beat PDP in the South-west with less than 60,000 votes if the money was actually spent in the strategic states of the South-west as allegedly claimed.'

The activist insisted that if the information is true, Osinbajo must resign his position as Vice President, adding that such is akin to the characteristics of ‘yahoo boys."

It is clear that the entire publication was a vicious, wicked and reckless ploy to impugn the reputation of our client and lower him in the estimation of right thinking members of the public. Without any scintilla of evidence you deliberately gave the dubious impression that our client colluded with the Federal Inland Revenue Service to divert public funds to the tune of N90 billion to prosecute the 2019 general elections in the South west region.

In view of the foregoing we have our client’s firm instructions to request for the immediate retraction of the offensive and derogatory publication coupled with apology prominently published in your newspaper.

Take notice that if we do not receive your formal retraction and apology within 24 hours of the receipt of this letter, we shall proceed with our client’s instructions to seek legal remedies including aggravated damages in the appropriate High Court.

Yours Sincerely,

FEMI FALANA, SAN

So with the first part now done, with the apology and retraction done by Vanguard, would the duo of Timi Frank & Katch Ononuju who are said to be the authors and sponsors of the blatant falsehood, now tow the honorable path too and admit they had lied with extreme vigor against the VP? 

GODWIN EMEFIELE SET TO RETAIN POST AS CBN GOVERNOR. TO BECOME THE 1ST EVER CBN GOVERNOR TO SERVE 2 TERMS IN OFFICE.

Godwin Emefiele 

As it concerns the CBN Governorship position, it seems like it's already a done deal as the incumbent, in the person of Mr. Godwin Emefiele whose first term tenure is gradually winding down and would have elapsed come June 2019, which is just a few weeks away. With his renomination by President Muhammadu Buhari, it means he would be going for another 5 years in office again. Emefiele was 1st appointed 5 years ago by the then President Goodluck Azikwe Ebele Jonathan, GCFR, who had removed the then CBN Governor, who went on to become the current Emir of Kano, that's talking about the then Malam Sanusi Lamido Sanusi, who is now better addressed as Alhaji Muhammadu Sanusi II, HRM, the Emir of Kano.

Many names had popped up in speculation as the likely successor to Mr. Emefiele who prior to becoming the CBN Governor was the MD of Zenith Bank Plc. The reason why many had thought there was going to be a definite change of baton from Emefiele to another person was because none of those who had ever being in charge as the head honcho of the apex bank in Nigeria had ever lasted more than a tenure (first term). They have always been replaced after their first term & only term in office. So with his nomination again for the post by President Muhammadu Buhari, to retain Godwin Emefiele for a 2nd term. If the appointment should scale through, which it would, it would just amount to Emefiele breaking a record as the 1st ever CBN Governor to be retained to do a 2nd term of another 5 years.

Much as many had claimed that the CBN Governor was somewhat docile and had not really stamped his authority on his position and not done anything extraordinary for the Nigerian economy and fiscal policy to retain the post, it seems like the administration of President Muhammadu Buhari have seen in him, what most have not seen or have not being willing to see and not just that alone, there might just be many things that he has done, that have been quite positive and that have worked very well towards the economic policies of the administration, which has sold him very well. So things have worked well for the man not seen by many, to be overly ambitious and not seen to be desperate to want to retain the position. For Emefiele, it looks like he has given credence to the assertion that, good things comes to those who wait or that the patient dog, eats the fattest bone.

So as Emefiele retains his post, that just puts to bed the speculation of the likelihood of the 'FIRS boss', who also doubles as the 'Chairman of the Joint Tax Board', in the person of 'Mr. William Babatunde Fowler' and others also so speculated, taking over from him as the CBN Governor. Those who had tried to sell the idea of Mr. Fowler had thought that him coming on board the CBN was fantastic proposition. But now with the CBN post gone, maybe the super hardworking tax czar would now be considered for a ministerial position instead, as many are of the opinion that a change of baton might actually also be coming up at the FIRS too.