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Nigeria: Becoming World’s First Cashless Country, Counteracting Corruption Crisis
By Joel Popoola
A little over a year ago, I called on President Buhari to make Nigeria the first country on Earth to abolish cash.
Perhaps he was listening.
This week, the President announced that Nigeria is to become the first African nation to introduce a digital currency.
The so-called eNaira is designed to cut transaction costs and boost participation in the formal financial system, with the President stating in a televised address that its technology can also “increase Nigeria’s gross domestic product by $29 billion over the next 10 years”.
This is the Nigeria we want to see: Bold, creative, modern, capable of continental leadership – and driven by digital technology.
In many ways we are the ideal society to pilot this innovation. Within the next couple of years the vast majority of Nigerians will own a smartphone, and our nation is already home to Africa’s greatest and most important e-payment businesses – such as Flutterwave, Opay and Andela .
It has always been something of an amusement to me that while many Nigerians are used to receiving money electronically from relatives overseas our entire economy still expects them to queue up kiosks for cash when spending that money at home – when every transaction can be done electronically with the touch of a button!
Although old-fashioned currency will be with us for some time to come, there is no question cash’s days are numbered.
It’s not just out-of-date – in a time of COVID-19 and civil insecurity, it’s not even safe.
But the real benefits of a digital economic system could be the ones that benefit our democratic system.
Physical cash is dirty money in more ways than one indeed – corruption is a lot easier in any system that relies upon it.
Minimising the use of cash in public life could be an important step towards restoring Nigerian’s trust in the democratic process.
Transparency and accountability are practically impossible with anonymous and untraceable cash payments. And this has huge implications when it comes to making sure public money goes where it is supposed to go.
As an example of how this can work, look at India. When the Indian government began to make pension payments digitally instead of using cash, incidences of bribery halved. I can’t be the only Nigerian to long for that happening here.
This is another area where Nigeria is making huge progress. COVID-19 saw impressive efforts from government to make palliative payments electronically – and saw the government take impressive and important steps to enhance the transparency and governance of COVID-related spending, including the publication of procurement plans and notices for all emergency response activities including the names of companies awarded contracts and the owners of those companies.
Now we need our politicians to pursue transparency too.
At the digital democracy campaign I lead, we are determined to improve accountability and transparency in Nigerian politics by using technology.
We have created a free app called Rate Your Leader, which allows voters to contact directly with their local elected representatives. The Rate Your Leader app helps politicians engage directly with the people who elected them, building relationships based on mutual trust and respect.
Rate Your Leader also helps local leaders explain and justify every decision they make and every penny they spend – making them truly accountable to the people they serve.
And if their voters don’t like the answers they get, they can rate their politicians appropriately for everyone to see.
In 2021, we live our lives digitally. We shop, socialise, learn, work and even date there. So why does out economic system still expect us to make transactions the same way as our ancient ancestors?
At our campaign, our message is clear: Our politics and our political institutions need to take advantage of the opportunities of the digital age to become more accessible, transparent and responsive – and to make themselves relevant to the people they serve.
Too much of our public payment, welfare and public transport infrastructure remains entirely cash-based. This has to change. But the creation of the eNaira is a great step towards a cashless Nigeria – and an international achievement we can all be proud of.
This would require significant government commitment and investment. But the government could start tomorrow by aiming to making all government payments – such as Conditional Cash Transfer – digital by default.
Our country is becoming digital. Our currency cannot remain analogue.
Joel Popoola is a Nigerian technology entrepreneur, digital democracy campaigner and is the creator of the Rate Your Leader app. He can be reached via @JOPopoola
Armed policemen have taken over the Wadata Plaza headquarters of the Peoples Democratic Party (PDP) in Abuja, as tension continues to mount over the party’s National Executive Committee (NEC) meeting, which is expected to hold today.
Channels Television quoted an unnamed party official, who alleged that the police were deployed to stop the proposed NEC Expanded Caucus meeting.
Though some staff members of the party were initially allowed to go into the premises of the secretariat without any resistance from the police, they were later sent out.
Journalists were also been asked to leave the premises of the secretariat.
Some policemen were seen cordoning off Dalaba Street, which is the road leading to Wadata Plaza.
The Presidency has said there has been no change in the position of Senator George Akume as Secretary to the Government of the Federation.
“There has been no change in the status of His Excellency, Senator George Akume, as Secretary to the Government of the Federation,” Special Adviser to the President on Information and Strategy, Bayo Onanuga, said in a statement made available to journalists.
The statement is titled ‘Akume Remains SGF.’
This followed multiple reports which quoted Presidency sources saying Tinubu had named his Special Adviser on Policy Coordination, Hadiza Bala Usman, to serve as the new SGF.
Onanuga said, “President Bola Tinubu, currently in Saint Lucia, has not made any new appointments.
“The information circulating about Akume’s replacement is untrue. Agents of mischief fabricated it.
“The Presidency advises Nigerians to disregard the fake news.”
By Henry Ukazu
Dear Destiny Friends,
It is everybody’s desire to be successful in whatever field of endeavour he finds himself. It can be in career, family life, business endeavors or personal development. But there’s absolutely nothing good that comes easy. Everything in life involves a lot of hard work, smart work, dedication, discipline, network, sacrifice, prayers, and determination among a whole lot if one is intentional to succeed.
Of a truth, success is not for the faint-hearted. In all honesty, everyone wants to be ahead of everyone, especially contemporaries and funnily enough, the average human being sometimes have a bit of ill- feeling when competitors arise or seem to outsmart them either with better quality or price. The good thing about this however, is that it makes one sit up.
Now, this brings us to the essence of today’s article. For anyone to be ahead of their competitors, they must fly like the eagle. Eagles are known for their powerful build, sharp vision, and fearless nature. They are highflyers, capable of soaring to great heights, and gliding for extended periods. Eagles are also known for their tenacity, using storms to their advantage to gain altitude. Other notable characteristics include their strong talons and beaks, used for hunting, and their protective nature towards their young. These are some of the qualities that make it unique.
The eagle is not regarded as the king of the sky for fun, no. The eagle flies so high because that’s where it gets a chunk of its strength. This ability enables the eagle to take its prey and predators alike to it’s abode where it will have enough emotional and physical strength to dismantle them.
I will be sharing characteristics of an eagle to enable us know why we ought to be like the eagle if we want to soar.
VISION
The eagle has a sharp vision. Their vision is so precise. They can see farther than any animal. They possess exceptional eyesight, allowing them to spot prey from great distances. As human beings, we must have eagle eyes to know what we really want, and what we don’t want. Vision allows us to go for what we desire and deserve. When we have vision, we won’t wait for anyone to tell us when to strike. We flow through the wind despite the waves and heavy current and associated challenges. When our vision is precise, it will give people clarity to understand how they can assist us.
Let’s take a closer look at great leaders of this world who have come and gone. There are many great leaders that came and went but one characteristic that is common in all is “Vision”.
Vision is a successful leadership characteristic
You must have a vision that guides and leads your team towards the organizations or societal goals. The vision must be big and focused. A big, focused vision will produce big results
FLIGHT
Eagles are known for their ability to soar and glide, using their large wings to their advantage. Eagles can fly up to an altitude of 10,000 feet, but they are able to swiftly land on the ground. At 10, 000 feet, you will never find another bird. If you find another bird, it must be an eagle.
An eagle doesn’t mingle around with the pigeons. It was Dr. Myles Munroe who said that. Pigeons scavenge on the ground and grumble and complain all day long. Eagles are not. They fly and make less noise waiting for opportunities to strike their next prey or glide with the current of the storm.
Great leaders are problem solvers. They don’t complain like the pigeons do. They love to take challenges as the eagle does when the storm comes. As human beings, we all have our strengths and weaknesses.
It’s always good for one to take any fight to their home ground where it will give them advantage over their predators. For instance, a fish is stronger in water, but weak on land, a lion is stronger on land, but weak in water, a monkey is strong on trees but weak on air. Just like an eagle is strong on air and weak on water and land. That’s why it always takes its prey to the sky where they have greater advantage to shine.
As human beings, we also must know what we are naturally good at, the ability to know this will enable us to maximize our strength and work on our weakness. We can only do this when we know ourselves and what we are naturally good at. Our ability to focus on our expertise and what we are naturally good at will make us unique and ahead of our contemporaries.
TENACITY
The eagles are known for their ability to withstand storms and use them to their advantage, rising above the challenges. Watch an eagle when a storm comes. When other birds fly away from the storm with fear, an eagle spreads its mighty wings and uses the current to soar to greater heights. The eagle takes advantage of the very storm that lesser birds fear and head for cover.
Challenges in the life of a leader are many. These are the storms we must face as leaders to rise to greater heights. Like an eagle, a leader can only rise to greater heights if he takes up the challenges head on without running away from it. This is yet another leadership characteristic.
As humans, we all will experience challenges and setbacks, however, the ability to apply strength will go a long way to show how determined we are to overcome the hurdles that pose as challenges.
FEARLESS
An eagle will never surrender to the size or strength of its prey. It will always give a fight to win its prey or regain its territory.
Successful leaders are fearless, so we are expected to fear no man, but respect all men. They face problems head on. We are supposed to have the eagle fearless mindset regardless of how big the problem may appear. Confront your fear and rise or face your fear and run. The choice is yours.
VITALITY NATURE
One of the strongest characteristics of an eagle is their vitality. Eagles are full of life and are visionary, but they find time to look back at their life and re-energize themselves. This happens at about the age of 30. What happens is that when the eagles reach the age of 30, their physical body condition deteriorates fast making it difficult for them to survive.
What is interesting is that the eagle never gives up living, instead it retreats to a mountaintop and over a five-month period goes through a metamorphosis. As humans, we are expected to reexamine ourselves, retreat to a safe zone. We can do this by fasting as Christians, we can also do this by learning new skills, volunteering our time and seeking for mentors who can hold us by the hand to show us how the appearance of life is not the reality of life.
In conclusion, as human beings, we are encouraged to be like an eagle if we want to scale through life.
Henry Ukazu writes from New York. He works with the New York City Department of Correction as the Legal Coordinator. He’s the founder of Gloemi. He’s a Transformative Human Capacity and Mindset coach. He is also a public speaker, youth advocate, creative writer and author of Design Your Destiny Design and Unleash Your Destiny . He can be reached via info@gloemi.com
