News
Biodun Ajiboye: “The making of a fearless spokesperson’
Silvanus Adefayi writes from Lagos
Otunba Biodun Ajiboye is a successful media personality, legendary advertising practitioner, and one of the core loyalists of the President-elect, Asiwaju Bola Ahmed Tinubu. He is the Assistant Director of Publicity of the All Progressives Congress, APC, who led the presidential candidate to victory in the just-concluded 2023 general election.
Ajiboye is a seasoned media practitioner who made a significant impact in the Nigerian Telecommunications Industry, particularly in 2001 when he broke new ground. He is recognized as the creative mastermind behind the widely acclaimed magazine, Nigerian Telecom News, and the convener of the most celebrated award in telecom, which attracted over half a dozen African presidents to Nigeria.
As a media personality, Ajiboye’s influence played a crucial role in the election of Tinubu as the President-elect, which was also a replica of his participation in President Buhari’s victories at the 2015 and 2019 polls. Ajiboye became the National Secretary of the National Committee of Buhari Support Groups (NCBSG), the umbrella body that hosts all the support groups that worked for APC’s success in 2015, which had President Buhari as the Grand Patron and Asiwaju Bola Ahmed Tinubu as Patron and Senator Abu Ibrahim as Chairman Board of Trustees. During the APC primaries, he was a senior member of the media team and chairman of the accommodation committee. He was also an assistant director in the media and publicity directorate of the presidential campaign council.
His impressive media appearances on Channels TV, TVC, Arise TV, and other platforms as a vocal spokesperson for the Tinubu campaign attest to his political acumen, intelligence and delivery of salient facts with his unique oratory touch. Ajiboye is a quintessential politician, and his role as a prominent media advocate for Bola Tinubu’s 2023 presidential campaign underscores his continued relevance in Nigerian politics.
Ajiboye, being a successful Marketing Communications practitioner, came into Bola Tinubu’s media team with a wealth of experience in brand and crisis management. This explains his ability to sway opinions and douse tension from time to time. Among other attributes, his combativeness and ability to apply cutting-edge strategies to tackle difficult situations gave him an edge. For instance, he deployed his full arsenal while defending Tinubu’s conduct at the Chatham House and displayed his understanding of Nigeria’s idiosyncrasies while commenting on the naira redesign issue, which he stylishly described as a calculated move to de-market APC and its candidate.
In his duty as a member of the Tinubu media team, he is seen as a fearless and valiant man who is ever ready to defend the presidential candidate anytime. Earlier this year, he was quoted describing Pastor Tunde Bakare of Citadel Global Community Church as “an inconsistently unstable person”, urging him to steer clear of politics and stick to his pastoral duties after the pastor had urged Nigerians to vote out politicians who see the presidency as their entitlement. Referring to Bola Tinubu’s comment, ’emi lokan’, which means ‘it’s my turn’.
Ajiboye likened Bakare to an “ordinary man on the street without any political clout’’, who has zero personality, popularity, and zero leadership.” He boldly questioned Pastor Bakare if he truly hears from God or he is just like other prophets who speak because of their selfish interest.
Ajiboye’s exceptional presentation of Tinubu is unparalleled, with the most notable being his appearance on Arise TV 24 hours prior to the APC convention. This appearance was widely and highly commended and effectively represented Tinubu’s campaign team at the time.
Ajiboye’s exceptional performance has earned him much love and respect from Asiwaju and others close to him.
Its on record that Asiwaju was invited as a guest speaker at Ajiboye’s Telecom Awards about 15 years ago where he spoke about Developmental Democracy at Eko Hotel alongside Father Kukah and other guest speakers.
Ajiboye’s numerous TV appearances and vocal defense of Tinubu are a testament to his admiration for the president-elect. He is a tactically bold individual who is not afraid to take a fight to the enemy’s territory. Otunba Ajiboye remains a fearless spokesperson in the history of Nigerian politics.
News
CIBN backs bank recapitalisation for enhanced economic growth
The Chartered Institute of Bankers of Nigeria (CIBN) has expressed support for the planned recapitalisation exercise for banks in the country.
Ken Opara, President/Chairman of Council, CIBN, expressed this during the 2024 annual lecture of the institute on Tuesday in Lagos.
Opara said adequate liquidity within the banking system was fundamental to fostering sustainable economic growth and development.
He said that the recapitalisation would further help banks to deepen liquidity and guarantee access to credit needed for economic growth and prosperity.
He said that CIBN and the Nigeria Exchange Group (NGX) had formed collaborations toward building capacity for the recapitalisation of banks.
Opara added that the institute was also collaborating with Africa Guarantee Fund (AGF) for capacity building for SMEs, preparing them and building their capacity to access finance.
He called for more allocation of credit to the real sector, which was the foundation of the nation’s economic activities for increased liquidity.
Opara stressed the need for addressing challenges faced by the sector to enhance its competitiveness against foreign counterparts.
To resolve the challenges, he urged the government to improve further the ease of doing business and infrastructural development, such as power, roads, and rail networks.
The CIBN president also called for industrial centres where companies could co-habit and share common infrastructure,
harmonise and reduce the various taxes and levies, including locating them in a single hub.
He said the theme, “Improving Availability of Credit in the Nigerian Real Economy: The Critical Importance of Liquidity”, was timely to address current challenges in the nation.
“As we navigate the complexities of our current economic landscape, it has become increasingly evident that ensuring adequate liquidity within the banking system is fundamental to fostering sustainable economic growth and development.
“The real economy comprises the agriculture, manufacturing, construction, and services sectors and serves as the tangible foundation of the nation’s economic activity.
“These sectors collectively represent the intricate web of goods and services that drive economic growth, create employment opportunities, and enhance the overall standard of living.
“Despite the significant relevance of the real sector, access to credit for such key sectors compared to other climes is relatively low,” he said.
He said a survey conducted in more than 40 economies and released by Statista in 2024 revealed that nearly 141 trillion dollars worth of credit was lent to the real sector in advanced economies in the second quarter of 2022.
He added that the figures were twice as high as the volume of credit to the same sector in emerging markets.
He commended improvements in liquidity within Nigeria’s real sector but called for increased credit to sector, particularly agriculture.
“According to data from the Central Bank of Nigeria (CBN), the Net Domestic Credit stood at 66.4 trillion Naira as of December 2022, showcasing the substantial credit extended by financial institutions to the real sector of the economy.
“This figure experienced a significant surge to 96.1 trillion Naira by December 2023, highlighting the tremendous potential for growth and development in the real sector,” he said.
He listed credit volume allocated to the key sectors, saying the Agricultural sector had N5.8 trillion representing about six per cent of the total credit.
He said the manufacturing sector had N19.7 trillion, representing approximately 21 per cent of the total credit, while the services sector had N36 trillion, representing 37.4 per cent of the total credit.
“I humbly propose that we consider offering more credit to these key sectors and particularly the agriculture sector.
“It is for this reason, ladies and gentlemen, that the recapitalisation exercise is a welcome development.
“The recently announced upward review of the Minimum Capital Requirements of Nigeria by the Central Bank of Nigeria would further empower banks to extend more credit to the economy’s productive sectors,” he said.
The Guest Speaker, Prof. Graham Penn, speaking on the theme, explained how other developed countries were leveraging on credit and the need for Nigeria to increase liquidity for economic prosperity.
Penn, a professor of International Finance Law at University College London, listed challenges and measures Nigerian banks, regulators and businesses could adopt to implement laws and regulations to facilitate true sale securitisation.
News
NERC transfers regulatory oversight of electricity market in Ekiti to state govt
The Nigerian Electricity Regulatory Commission (NERC), says it has transfered regulatory oversight of electricity market in Ekiti State to the state Electricity Regulatory Bureau (EERB).
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