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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It’s not just out-of-date – in a time of COVID-19 and civil insecurity, it’s not even safe.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
Impeached Speaker of the Lagos State House of Assembly, Mudashiru Obasa, has described the corruption allegations against him as “fictitious and unsubstantiated”.
Speaking during a welcome rally at his residence in GRA, Ikeja on Saturday, Obasa maintained that he was not afraid of being impeached but emphasised that due process was not followed.
The former Speaker alleged that his removal was orchestrated while he was away, and accused the state commissioner of police of aiding the process.
He claimed security agents, led by the police commissioner, invaded the assembly complex and his homes in Agege and Ikeja, locking his family indoors with over 200 officers present.
Obasa dismissed allegations of misappropriation.
He mocked claims that a gate construction had cost N16 billion, saying, “Is it the wall of Jericho?”
He said: “I am not afraid of being removed, after all, it is not my father’s chieftaincy title. I am representing my people and they have returned me six times. If you want to do anything, do it well.
“They did the removal all because I was out of the country. Lagos is a special place, we cannot denigrate the state.
The former Speaker cited the case of the former speaker, Rt. Hon Jokotola Pelumi.
He said when Pelumi was removed, he was in the assembly and “we did not invite policemen.
“When my sister, former deputy speaker of the House, Hon. Adefunmilayo Tejuosho was removed, we did not invite the police.”
Obasa said an innocent person should not be discredited, and there must be proof of allegations showing exactly what he has done.
“The Lagos State House of Assembly is above common standard of excellence.
“I appreciate the members of the governance advisory council and Governor Babajide Olusola Aanwo-Olu of the state. He is my brother and he always calls me his younger brother.”
Obasa was impeached on January 13 by more than two-thirds of the 40-member legislative house over alleged misconduct and sundry offences.
His Deputy, Mojisola Meranda, was immediately elected the new speaker, becoming the first female to take charge of the legislative body in the State.
The Federal Airports Authority of Nigeria (FAAN) has confirmed that 38 persons, including seven crew members, were injured when a United Airlines plane made an emergency landing in Lagos on Friday morning.
The Boeing 787-8 flight with 245 passengers was en route to Washington Dulles International Airport (IAD), in the United States, from the Murtala Mohammed International Airport, Lagos, when it developed problems midair and was forced to return to the airport.
There were also 11 crew members – eight attendants and three pilots – on the plane.
The FAAN Director of Public Affairs and Consumer Protection, Obiageli Orah, who confirmed the incident through a statement, said all passengers and crew disembarked safely.
She, however, said four passengers and two crew members sustained serious injuries.
According to her, 27 passengers and five crew members had minor injuries.
The statement read: “The United Airlines Boeing 787-800 departed Murtala Muhammed International Airport (MMIA), Ikeja, at 11:59pm on Thursday, but made air return and landed safely at 3.22am on Friday.
“On board were 245 adults and 11 crew members.
“The team of Aerodrome Rescue and Fire Fighting Services, Aviation Medical, and Aviation Security were already at the gate when the aeroplane parked for deboarding at D31 without incident, and the door was opened at 3:37am.
“While all passengers and crew disembarked safely, four passengers and two crew members sustained serious injuries, and an additional 27 passengers and five crew members had minor injuries.
“The rescue team responded swiftly and effectively, having been on alert and standby.
“Aviation medical ambulances transported the injured passengers, some to the MMA Clinic and others to the headquarters clinic.”
By Henry Ukazu
Dear Destiny Friends,
There’s no doubt that human beings by nature are insatiable. When we get one opportunity, we always look for another. When we attain one height, we always look for another accomplishment. Isn’t it true that the end of one mountain is the beginning of another.
However, I don’t think it’s selfish for anyone to dare to succeed.
Being ambitious doesn’t make one an opportunist or disloyal. It all depends on one’s perception or outlook to life. It’s just natural for one to dream big. It’s only ugly when the process one chooses to achieve his desires becomes dirty and nasty.
According to a former Nigerian presidential candidate and seasoned Economist, Mr. Peter Obi, “if you must be referred to as “Your Excellency”, then the process through which you arrived in office must be excellent”.
If you desire to be reckoned with on the journey of existence, you must be legitimately hungry for success. One’s hunger for success will facilitate the drive to accomplish great tasks despite daunting obstacles posing as challenges.
When one has this mindset, one will not be bothered by the noise which serves as obstacles and challenges along the way. Negative and weak minds are always concerned on why something won’t work. They tend to focus their energy and reasons on the obstacles facing them. But great and productive minds always focus their energy on the reasons why it will work. This is the spirit of an insatiable mind who is a goal- getter.
It’s instructive to note that we can’t please everyone. According to Bill Cosby, a famous actor, “I don’t know the key to success, but the key to failure is trying to please everyone.” Isn’t it true that when you talk, people will still talk about you, when you don’t talk, people will talk about you, so whether you talk or not, people will still judge you, so, do what’s best for you. There’s nothing you can do to please human beings. Your best option is to live your best life.
To understand how the insatiable nature of man works, one must be oneself. You don’t have to “please” anyone. Be yourself, and don’t try to be like anyone just to curry favour. It’s important to note that when you are yourself, the people that matter will come through for you, and the people that don’t matter will gradually find the bearing in another space because those that truly care don’t bother and those that bother don’t really matter in the grand scheme of things.
Life has truly taught me to focus on the important things of life as opposed to the mundane things. It’s truly sad to see people spending more time on the little things of life, and spending little time on the important things of life. That’s just a misplaced priority.
When you are yourself, the best people can do is to copy or imitate your style. They can never imitate your creativity nor can take your originality from you.
We live in a world or society where people don’t generally care or show empathy. Most people tend to live around themselves, their family, and close associates. They generally find it hard to lift a finger to assist others for reasons best known to them. Rev. Fr. Ejike Mbaka once said, “we live in a wicked generation”, re-echoing the voices of a lot of people of the world. Some people in authority just have criminal expertise in amassing wealth of opportunities meant for the citizens without thinking of the citizens they are meant to serve.
It’s worthy of note that not everyone will like you nor support your work, but when you find people who truly care about you; please hold them tight. This is because despite having family members you have shown love and compassion, they might not still appreciate you even if you lay your life for them, they will still find something to say. Again, this is the insatiable nature of man.
It’s okay for everyone not to like you, normalize living your life for God, yourself, family and those that care about you. If everyone likes you, you have a problem.
Did you know that you can get a new family from friends, strangers, and acquaintances? These sets of people might appreciate you more than your own family members. They might not demand or under appreciate you like your family members and close friends or associates. Any little support you give them will be highly appreciated. Their focus is to see you do better.
In conclusion, as you desire to succeed in life, never give in to failure until you have made your last attempt, and never make your last attempt until you succeed. This literally means whatever you desire, dream it, think it, say it, and believe you can achieve it. This principle is generally applicable to relationships, businesses, family, personal and professional development.
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 Your and Unleash Your Destiny . He can be reached via info@gloemi.com
