News
Trump should be a wake-up call!
By Abiodun KOMOLAFE
President Donald Trump of the United States of America is a creation of time. The key point is not in changing America. Instead, Trump is revealing America as it is! The America that we knew – represented by F.D. Roosevelt, J.F. Kennedy and Jimmy Carter – was perhaps just a fleeting moment or a facade. Trump’s presidency has exposed the underlying realities of the country, making it clear that the perceived America was not entirely genuine.
Trump epitomizes the body and the spirit of the White conquest of Native Americans, which is reflected in his immigration policy. On the surface, his policy aims to eliminate illegal immigrants, criminal gangs and narcotics dealers. However, in reality, Trump, as POTUS, and his supporters are pursuing a Whites-only immigration agenda, similar to the one once employed by Australia, which has now been discarded. The response to South Africa’s land
reforms is clearly in this direction.
Trump’s offer to allow White South Africans to immigrate to the US as refugees is disquieting, especially since this opportunity wasn’t extended to Palestinians or other groups.
But then, this move isn’t surprising, given the long-standing discussions in the US about repopulating sparsely populated states like Wyoming, Montana and Idaho. The president seems to view this as a chance to appeal to those who fear losing their demographic majority.
Not everything is wrong with Trump! For instance, his administration’s cost-effective unit aimed at reducing waste and inefficiency in government aligns with the recommendations of Nigeria’s Oronsaye Report, which was submitted in 2012. It’s ironic that Trump is implementing reforms that Nigeria should have undertaken years ago. This highlights Nigeria’s slow pace in addressing its own inefficiencies. Importantly, while Trump’s policies, such as dismantling USAID and the Department of Education, are not entirely commendable, his focus on cost-efficient units could serve as a catalyst for Nigeria to revisit and implement the Oronsaye Report's recommendations.
Similarly, Nigeria seems to expect the US, under Trump’s leadership, to take responsibility for recovering its stolen wealth. However, if the US Department of Justice is no longer pursuing cases against individuals who have looted Nigeria’s treasury and stashed the funds in the US, it raises questions about Nigeria’s own role in addressing corruption. Ultimately, the issue reveals the shape and size of a deeper problem: why does Nigeria have such weak institutions that billions of dollars can be easily embezzled and laundered abroad?
So, Trump’s actions should be a wake-up call for us to “padlock the stable doors” to prevent the horse from bolting. It’ll be in our interest not to allow other countries to capture the horse which has fled because we refused to padlock the stable doors. Padlocking the stable doors should have involved setting up a congressional budget office to monitor and police a budget process since 1999. That this was not done and it’s not about to be done shows a complete and utter lack of seriousness in our curbing waste and corruption.
In addition, the refusal to use a performance planning budgeting system, first proposed by the late Omowale Kuye as the Director General of Budget in 1983, reveals a lackadaisical attitude towards budget and project management and implementation. So, no one can, or should, hold Trump responsible for Nigeria’s ineptitude.
Trump and his supporters had a clear agenda, Project 2025, which became public knowledge before his presidential nomination. Since his tariff policies would likely have far-reaching effects on Nigeria, Nigeria should have prepared countermeasures in case he won, but did we? Were we fully prepared for the impact of his presidency? Canada was well-prepared, and swiftly responded to Trump’s policies. In contrast, Nigeria’s history shows it was once adept at preparing for economic challenges, such as the 1967 devaluation of the British pound
sterling. But not anymore!
Again, the question remains, where did we lose the plot and what’s next for Nigeria? Now, Nigeria faces brain drain, with doctors leaving the country daily. Was that also caused by Trump? Ours isn’t it, just a matter of sensible or senseless governance; it’s a result of successive governments failing to effectively communicate with the people. They’ve either used the wrong channels or struggled to convey their message, leaving a gaping hole in their connection with the electorate. Consequently, governments are often caught off guard,
scrambling to respond to issues that could have been addressed through proper communication.
The prosperity of the developed world was built on the exploitation and suffering of Black slaves. Unfortunately, the legacy of colonialism and slavery continues to haunt us, with the scars of pillage, human trafficking and forced labour still evident. Iconic symbols of power, such as the White House, were constructed on the backs of enslaved Africans. Similarly, the Arab world’s economy flourished thanks to Mansa Musa's wealth and the trans-Saharan trade.
Yet, despite these historical contributions, the Black world remains economically and socially shackled.
The Bible and Koran, scriptures that advocate for compassion, justice and humility, now serve as a stark contrast to the hypocrisy of their proponents. Colonial powers, who claimed to represent Christianity, exploited our resources, enslaved our people, and treated them as commodities rather than human beings. As we reflect on Nigeria’s economic challenges, it is essential to consider the importance of informed leadership. The story of the Pharaoh “which knew not Joseph” serves as a cautionary tale about the dangers of ignorance and the importance of informed leadership. As if two wrongs have equaled a right, the actions of Pharaoh and Trump share a common thread
– both leaders sought to maintain power and control over perceived threats. Pharaoh viewed the Israelites as a danger to his authority, while Trump has portrayed undocumented immigrants as a threat to national security and American jobs.
Ancient civilizations also offer valuable lessons in leadership. In Greece, for instance, Oedipus Rex serves as a moral lesson about the dangers of hubris and ignorance. Likewise, India’s Mahabharata tells the story of the blind king, Dhritarashtra, who ignored wise counsel and led his kingdom to ruin. China’s concept of ‘Mandate of Heaven’ emphasizes the importance of morally just leadership. Conversely, Africa's ‘Ubuntu’ philosophy prioritizes community and interconnectedness. It highlights the need for leaders to consider the well- being of all people, not just their own constituents. This concept is often cited as a counterpoint to Trump’s ‘America First’ ideology.
Now that Trump has declared war on everybody, it might be a unique opportunity for Nigeria to take control of our economic destiny and build an economy based on self-reliance and the search for export-oriented, value-added policies in order to balance its books, end the perennial current accounts deficits and smash the mould of boom-to-bust cycles. Even as he continues to defy conventions and push the boundaries of executive power, dear country
should learn from its history and leverage the population dynamics of countries like the United States and India to create a more sustainable and resilient economy.
The Chinese ideograph for CRISIS is, on one side, Danger, and, on the other side, opportunity. Essentially therefore, Trump’s second coming presents a fantastic opportunity for Nigerians. We should seize it with both hands. We shouldn’t ask other countries to do for us what we are expected to do for ourselves. In a word, failure to have a coherent response to Trump’s ‘wahala’ only means that Nigeria will continue to move, irresistibly, in the directionof boom-to-bust, underperformance and underachievement, with more Nigerians sliding into
poverty. And that will be sad!
May the Lamb of God, who takes away the sin of the world, grant us peace in Nigeria!
KOMOLAFE wrote from Ijebu-Jesa, Osun State, Nigeria (ijebujesa@yahoo.co.uk)
The Chief of Staff to the suspended Rivers State Governor, Edison Ehie, has revealed how he was offered the sum of N5 billion to coordinate the impeachment of his principal, Siminalayi Fubara.
He stated this on the popular Channels Television on Sunday Politics, claiming that he has evidence stored on his phone to substantiate his claims.
The impeachment of the governor has been the desire of the 27 lawmakers loyal to Nyesom Wike, a former governor of Rivers and a current Minister of the Federal Capital Territory, hence, the claim, if substantiated would have been linked to the camp of the Minsiter, Nyesom Wike.
“I can also open my phone to show you, in the beginning of October 2023, when they approached me with a bribe of N5 billion. It is here in my phone.
“It was for impeachment. It’s here. I have it and I have printed it and distributed it, in case, in their evil imagination, they decide to attack me. I already have a son and a brother,” he said.
According to Ehie, the mouth watering offer was made while he was serving as the majority leader of the Rivers State House of Assembly.
Reacting to claims that the embattled governor told him to bomb the State House of Assembly, he denied, saying that Fubara never told him to do so, while he challenged the former Head of Service prove evidence.
His denial was at the backdrop of claims by the former Head of Service of Rivers State, George Nwaeke that he witnessed a bag of money being handed over to Ehie at the Government House to organize the bombing of the House of Assembly complex to avoid impeachment of the governor.
Nwaeke however, said, he didn’t the amount of money in the bag that was handed over to the Ehie.
Dismissing the claims as false and politically motivated, Ehie said, “It is very important to clarify that I had no hand and was not part of the burning down of the Rivers State House of Assembly.
“Like everyone else, I woke up in the early hours of 30th of October 2023 to hear of the burning down of the Rivers State House of Assembly.”
Ehie stated that he had instructed his lawyers to file a lawsuit against Nwaeke for criminal libel.
“I will not join issues completely with Mr. George Nwaeke because I have already instructed my lawyers to file an issue of criminal libel against him, and I hope he is very prepared to substantiate his claims and his allegations,” he said.
He further alleged that Nwaeke had sought financial assistance from him on the same day he resigned as head of service.
Rivers State has been in turmoil since Fubara’s fallout with his predecessor and current Minister of the Federal Capital Territory Nyesom Wike.
On March 18, President Bola Tinubu declared a state of emergency in the state and suspended both the governor and his deputy.
Subsequently, on March 26, the sole administrator of Rivers State, Ibok-Ete Ibas, suspended all political officeholders in the state.
The Education Ministry said it is in contact with security and education officials and is coordinating with admins and parents.
A plane carrying a group of 150 Israeli students on a trip to Poland made an intermediate landing in Antalya, Turkey, the Education Ministry said on Monday.
The landing was made following concerns about a technical malfunction, and for reasons of caution, a decision was made to stop in accordance with aviation rules.
N12 reported that a bird had entered the plane’s engine during the flight.
The high school student delegation – from Ein Kerem High School in Jerusalem – was en route to Poland on a standard school trip to learn about the events of the Holocaust. They were accompanied by security personnel from the Shin Bet, as is customary for any delegation to Poland.
The Education Ministry said that they are in continuous contact with security and education officials and are in coordination with school administrations and parents.
The Auschwitz-Birkenau concentration camp in Poland. September 19, 2021. (credit: NATI SHOHAT/FLASH90)
It was reported that all the students “are feeling well, staying in a safe and protected area within the airport, and are closely accompanied by the teaching staff who are with them at all times.”
In addition, the ministry was informed that a replacement plane is on its way to them, and it is estimated that at 3:00 p.m., they will take off for Krakow to continue their educational journey.
Holocaust learning
Israeli school trips to Poland typically take place in the winter and the summer, and, according to Education Minister Yoav Kisch, aim to allow “students to commemorate the victims of the Holocaust, to be exposed to the atrocities that took place, and to prove the victory and resurrection over the attempt to destroy the Jewish people.”
In November 2023, the ministry announced it would cancel the winter Poland trips due to the rise of antisemitism worldwide in the aftermath of the Israel-Hamas war.
…Declares a total dividend of N2.10 per share
Lagos, Nigeria, March 29, 2025: Leading financial institution, Fidelity Bank Plc, released its 2024 full-year Audited Financial Statements, reporting a 210% growth in Profit Before Tax to N385.2 billion.
According to the Bank’s results released on the Nigerian Exchange (NGX) on Friday, 28 March 2025, Gross Earnings increased by 87.7% to N1,043.4bn, driven by 106.9% growth in interest and similar income to N950.6bn. The increase in Interest Income was led by a combination of improved yield on earnings assets and 51.6% expansion in earnings base to N6.3tn. This led to a Profit After Tax of N278.1 billion, representing a 179.6% annual growth.
Commenting on the results, Dr. Nneka Onyeali-Ikpe,OON, Managing Director/Chief Executive Officer, Fidelity Bank Plc said, “We are delighted with our 2024 full-year (FY) performance, which showed strong growth across key revenue lines, improved asset quality, and significant traction in our strategic business segments. Our impressive results led to a triple-digit increase (210.0%) in Profit Before Tax (PBT), rising from N124.3bn in 2023 to N385.2bn in 2024.”
A further review of the financial performance revealed that the bank’s net interest income increased by 127.1% to N629.8 billion, driven by a high-yield environment in 2024. To optimize its margin, the bank sustained its asset yields above funding cost by maintaining a high low-cost deposit profile at 92.6%. This led to an increase in its Net Interest Margin from 8.1% in 2023 FY to 12.0%.
Similarly, the bank continued to deepen its market share in both the corporate and retail segments, with customer deposits increasing by 47.9% from N4.0trn in 2023FY to N5.9trn. The increase was driven by strong double-digit growth across all deposit types. The Retail Banking Business gained significant traction with savings deposits increasing by 28.8% to N1.1trn, marking the 10th consecutive year of double-digit annual growth in savings deposits.
Despite the difficult economic terrain in 2024, the bank has continued to support the real sector of the economy by increasing its Net Loans & Advances from N3.1tn in 2023FY to N4.4tn in 2024FY.
“This remarkable performance demonstrates our capacity to deliver superior returns to our shareholders. In line with our commitment to them, we have declared a final dividend of N1.25 per share, bringing our total dividend for the 2024 financial year to N2.10 per share”, explained Onyeali-Ikpe.
Having consistently paid dividends since 2006, Fidelity Bank will pay investors a total dividend of N2.10 per share for the 2024 financial year, subject to shareholders’ approval at its Annual General Meeting (AGM) on 29 April 2024. The dividend will be paid on 29 April 2025 to shareholders whose names appear on the register of members as of 15 April 2025.
It will be recalled that the bank successfully completed the first phase of its capital raising exercise through a Public Offer and Rights Issue in 2024, which were oversubscribed by 237.92% and 137.73%, respectively. The positive result is a testament to the strength of the Bank’s franchise in the capital market. A total of N175.9bn was recognized as fresh capital in 2024 financial year from the exercise, which had a positive impact on its Capital Adequacy Ratio (CAR) at 23.5%. The bank plans to conclude the second phase by Q3 2025, ahead of the Central Bank of Nigeria’s deadline, which will further strengthen its capital base and reaffirm its attainment of Tier 1 Bank status in the Nigerian Banking Industry.
Fidelity Bank Plc is a full-fledged commercial bank with over 9.1 million customers who are serviced across its 251 business offices and various digital banking channels in Nigeria and the United Kingdom.
The Bank is the recipient of multiple local and international Awards, including the 2024 Excellence in Digital Transformation & MSME Banking Award by BusinessDay Banks and Financial Institutions (BAFI) Awards; the 2024 Most Innovative Mobile Banking Application award for its Fidelity Mobile App by Global Business Outlook, and the 2024 Most Innovative Investment Banking Service Provider award by Global Brands Magazine.
Additionally, the Bank was recognized as the Best Bank for SMEs in Nigeria by the Euromoney Awards for Excellence and as the Export Financing Bank of the Year by the BusinessDay Banks and Financial Institutions (BAFI) Awards.
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