Former President Olusegun Obasanjo says that democracy on the African continent is being reduced to ‘monetocracy’, a system where money determines leadership .

Obasanjo spoke on the state of the continent during the 32nd annual general meeting of Afreximbank in Abuja, yesterday.

Obasanjo criticised the winner-takes-all mentality that leaves opposition parties disenfranchised and democratic processes hollow.

Obasanjo: Time to roar is now, Africa’s sleeping giants must drive own growth By : Helen Oji Date: 27 Jun 2025Share :ObasanjoObasanjoFormer President Olusegun Obasanjo has blamed Africa’s over reliance on foreign aid, poor leadership, corruption, and a flawed democratic system for the continent’s lack of progress.Speaking on the state of the continent at the 32nd Annual Meeting of Afreximbank in Abuja yesterday,

Obasanjo said that Africa’s so-called ‘lions’, its most populous and resource-rich countries have failed to achieve meaningful growth weighed down by systemic inefficiencies and misguided governance.

” Nations like Nigeria, Egypt, Ethiopia, the Democratic Republic of Congo, and South Africa ought to be leading the continent’s development charge given their demographic, resource, or economic strengths. Instead, these countries have continued to record retarded growth.”

While Egypt has made notable progress, he lamented that the others have either regressed or stagnated over the past three decades, often taking two steps forward and one step back.

He described these nations as ‘lions’ that are not moving economically or politically enough to uplift smaller or less endowed African states.

He argued that Nigeria, in particular has immense potential but remains shackled by corruption, ignorance, and a persistent dependence on foreign assistance.

Justice Emeka Nwite of the Federal High Court, Abuja, on Thursday, rejected a move by the Economic and Financial Crimes Commission (EFCC) to ‘cross-examine’ its third witness in the ongoing alleged money laundering case against the immediate past Governor of Kogi State, Yahaya Bello.

While delivering his ruling, Justice Nwite noted that there was no provision in the law that permits the court to allow the prosecution to re-examine its witness in the manner proposed.

This was just as the EFCC lawyer, Kemi Pinheiro, during the proceedings, described the case instituted against the former governor as a political case.

He emphasised that he was not prosecuting a bank official, but a political figure, “one who had even aspired to contest for presidency”.

He said this while arguments were being raised on whether the defence counsel would cross-examine the 4th witness when the prosecution concluded its examination at 2.30pm or wait till the next day.

The judge responded, “Political? If that is the case, then those handling political cases should prepare to take over the matter.”

On the ruling against the cross-examination of PW3 by the EFCC, the judge said, “I must agree with the learned counsel to the defendant that the prosecution can only cross-examine after it has declared the witness a hostile witness.

“The argument of the learned counsel to the prosecution is misconceived…This honourable court is not shutting the prosecution from re-examining the witness, but must restrict itself to pages 1, 14 and 15 of Exhibit 19.

“The prosecution is not allowed to re-examine the witness outside the pages prescribed.”

Nicholas Ojehomon, an internal auditor at the American International School, Abuja, had, at the last hearing, said there was no wired transfer of fees from the Kogi State Government or any of the local Governments in the state to the account of the American school.

On cross-examination, he also read out a part of a previous Federal Capital Territory High Court judgment that said there was no court order for AISA to return fees to EFCC or any judgment declaring the money as proceeds of money laundering.

After a brief re-examination, and the withdrawal of an earlier question posed to the witness, the EFCC lawyer, Kemi Pinheiro, SAN, told the court that the Commission had three other witnesses for the day.

During examination, Mshelia Arhyel Bata, a compliance officer with Zenith Bank, confirmed that the certificates of identification were attached to the statements of account provided by the bank in the seven sets of documents presented, as requested.

The court, thereafter, admitted the statements of account of Kogi State Government House Administration, and six others, as exhibits.

The witness, on subpoena, educated the court on the withdrawal limits allowed for individuals, corporate organisations and government, saying that before the cashless policy, it was pegged at N10 million for government.

The prosecution then took him to the 23rd of May, 2016 on the printed documents, and pointed at a transaction under the name, Abdulsalami Hudu.

When the witness was asked to explain the transaction, he said, “It is a cash withdrawal of N10 million in accordance with the then maximum threshold allowed for cheque withdrawal per transaction.”

He, however, said that he had nine cash transactions on the same date.

The witness was then told to go to the credit transactions of 30th January, 2018, and he confirmed that there were 10 separate credits of various sums, totalling about N1.092 billion.

When asked to mention the total amount of withdrawals, the Defendant’s counsel cut in: “He (Pinheiro, SAN), knows that they are for security votes.

“The witness aggregated the total amount of withdrawals to N1.968 billion, saying they were on different dates.”

He also read out the inflow and outflow between 2nd of May 2018 and 19th May, 2018.

After the examination by the prosecution, the judge adjourned to tomorrow, June 27, for cross-examination by the Defendant’s Counsel.

The Independent National Electoral Commission, on Wednesday, said it received letters of intent from 110 associations seeking registration as political parties.

It, however, flagged clashing names, and irregularities in the registration requests by most associations.

The list of the 110 parties, including proposed names, acronyms, addresses, and names of their protem chairmen and secretaries, was published on INEC’s website and social media platforms on Wednesday.

One of the proposed parties, the All Democratic Alliance, is reportedly supported by a coalition of prominent political figures, including former Vice President Atiku Abubakar, former Kaduna State Governor Nasir El-Rufai, and former Rivers State Governor Rotimi Amaechi.

Another group, believed to be backed by supporters of former Labour Party presidential candidate, Peter Obi, submitted a registration request under a similar name, raising concerns about potential acronym duplication.INEC noted that some of the proposed associations used identical acronyms, which violates the commission’s guidelines.

Additionally, 40 applications were missing a protem national secretary, five lacked a protem national chairman, and seven were missing both. Four submissions did not include an official address, while one application was submitted without a party logo.

Three applications—New Green Generation Party, New Green Congress, and New Green Coalition Party—listed the same individuals, Mallam Idris Abdulkarim and Amb Crystal Ikechukwu Ogu, as protem national chairman and secretary, respectively.

INEC also discovered that the Republican Party of Nigeria submitted two separate applications, each with different leadership and addresses. One was led by Col Vincent Enemoma Abu and Buhari Yakubu with an office in Mabushi, Abuja, while the other, led by MD Coma and Chief Abu Ali, listed an address behind Utako Market.

Also, there were two separate applications to register a party under the name Obidient Peoples Party.

Some applications had acronyms similar to those of previously deregistered parties, and several submissions were made by legal representatives or conveners without including the names of party officers, contrary to INEC’s regulations.

The list of proposed party names included a wide range of entities such as Key of Freedom Party, Absolute Congress, All Grassroot Party, Congress Action Party, United Social Democrats Party, National Action Congress, New Nigeria Congress, United People’s Victory Party, Allied Conservative Congress, Peoples Freedom Party, Abundant Social Party, All Nigeria’s Party, Citizens Party of Nigeria, National Freedom Party, Patriots Party, and Movement of the People.

Also included are the Peoples National Congress, Alliance of Patriots, African Union Congress, Socialist Equality Party, About Nigeria Party, Africa Reformation Party, Accelerated Africa Development Association, Obedient People’s Party, Zonal Rescue Movement, Zuma Reform, Party for Socialist Transformation, Liberation Peoples Party, Progressive Obedient Party, and Great Nigeria Party.

Other submissions feature names such as National Youth Alliance, National Reform Party, Patriotic Congress Party, Community Alliance Party, Grassroot Alliance Party, Advance Nigeria Congress, All Nigerians Alliance, All Labour Party, Team New Nigeria, About All Nigeria, Nigeria Liberty Movement, National Democratic Party, and Citizen United Congress.

Additional proposed parties include All Gender Party, Polling Units Ambassadors of Nigeria, Village Intelligence Party, Great Transformation Party, Alliance Social Party, Nigeria Democratic Alliance, New National Democratic Party, Nourish Democratic Peoples Congress, All Youth Reclaim Party, Marina Multipurpose Cooperative Society, Alliance Youth Party of Nigeria, The True Democrats, Democratic People’s Congress, National Democratic Movement, Economic Liberations Party, and Grassroot Ambassadors Party.

Other applications were filed under names such as All for All Congress, Peoples Democratic Alliance, United Youths Party of Nigeria, Peoples Liberations Party, Democratic Union for Progress, Citizen Democratic Alliance, Africa Action Group, Patriot Alliance Network, Democratic Leadership Party, Pink Political Party, Young Motivation and Awareness for Development Forum, Access Party, and Young Progressive Empowerment Initiative.

Further entries include the Republican Party of Nigeria, Sceptre Influence Party, Young Democratic Congress, Patriotic Nigeria Party, Far Right Party, Democratic Peoples Party, United Citizens Congress, Reset Nigeria, New Nigeria Democratic Party, Save Nigeria People Party, Above All, Alliance for Youth and Women, and Rebuild Nigeria Group.

The remainder of the proposed names comprise the Citizens Progressive Party, Guardian Party, Abiding Greatness Party, Patriotic Party, Development and Freedom Party, Peace, Unity and Prosper Culture, The Populist, New Nigeria Leadership Party, All Allies Alliance, National Action Network, Coalition for Nigerian Democrats, Abundance Africa Alliance, Free Will Humanitarian Party, People’s Emancipation Party, Peoples Liberations Congress Party, and Peoples Democratic Congress.

Speaking earlier during a consultative meeting with media executives in Abuja, INEC Chairman, Prof Mahmood Yakubu, stated that as of June 23, 2025, the commission had received 110 letters and was diligently processing them in accordance with electoral laws and guidelines.

“As of Monday, 23rd June 2025, the commission has received letters of intent from 110 associations that wish to register as political parties.

“We are diligently processing the requests in line with the procedure outlined in the law, as well as our regulations and guidelines.

“We have acknowledged all requests received so far except six of them received recently, which will be done before the end of the week,” he said.

Addressing concerns about impartiality, Yakubu dismissed claims that the commission was compromising its independence.

“We will treat all requests fairly, irrespective of the status of their promoters, be they ordinary or prominent citizens,” he said.

The INEC chair said the commission had acknowledged all but six of the letters received, adding that the handbook containing the 2022 regulations and guidelines for political parties was available on the commission’s website.

He also announced that the commission was ready to conduct outstanding by-elections and resume nationwide Continuous Voter Registration.

“I am glad to announce that the commission is now in a position to conduct the by-elections and to resume the nationwide CVR.

“The commission met yesterday and we are finalising the details of the two activities which will be made public in the next 24 hours,” he added.

He thanked the media for their continued support, adding, “We look forward to your support.”

The meeting also covered current electoral activities.

The INEC chairman noted that primaries for the Area Council elections in the Federal Capital Territory were ongoing and scheduled to conclude by June 30, 2025.

He said elections would take place across 68 constituencies, covering chairmen and deputies for six area councils and 62 wards.

“As you are aware, the election will be held in 68 constituencies made up of chairmen and their deputies for the six area councils, namely Abaji, the Abuja Municipal, Bwari, Gwagwalada, Kuje and Kwali, as well as 62 wards drawn on the basis of 10 wards for each area council, except AMAC, which has 12 wards on account of its population.

“The full delimitation details for the FCT are available on our website,” the chairman noted.

The upcoming Anambra State governorship election, set for November 8, 2025, was another major focus during the meeting.

Campaigning began on June 11 and will continue until midnight on November 6.Yakubu urged media personnel to promptly apply for accreditation to facilitate election coverage.

“I wish to appeal to you to promptly upload your applications for accreditation of media personnel for the Anambra State governorship election as soon as the portal opens,” he said.