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‘I don’t serve any idol except God’ + How i have stopped rain from falling on different Occasions – Oluwo Of Iwo Land reveals

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The Oluwo of Iwo land, Oba Abdulrasheed Akanbi holds his second year anniversary of his ascension to the stool and marks his 50th birthday on Saturday 7th of October. He spoke with PREMIUM TIMES on his aspirations for his people in Iwo and his novel approach to the traditional stool.

PT: You came on the throne facing a lot of opposition and challenges. How were you able to survive  the crises you faced?

Oluwo: I don’t see challenges as anything. It was a situation where people did not know me. So I don’t hold it against anybody. Those who opposed me did not know that I came with a message and that I am a different kind of person who has brought a new kind of leadership. I brought a leadership that is committed to serving humanity.

When people cannot understand you, then there will be a challenge. Even myself, before I became the king, there were things I didn’t know. To be a king is about service, it is not about ruling over the people, but serving the people. The definition of kingship has been redefined in Iwo. It is the only seat and throne of God on earth, where there is no selfish, fetish or idolatry mixing with it. I mean not worship any lesser gods or idols.

PT: Some princes of the land attacked you and criticised your style of leadership. What is the situation right now?

Oluwo: Like I told you earlier, they did not know that a new dispensation had come. Even Jesus Christ, when he came, people stoned him and lied against him and rejected him. They lied against me and said I was a yahoo yahoo, even when no one ever said I defrauded him. So, the period of attack was the time when they did not know who I was really. They thought I was trying to smear or reduce the throne, but they did not know that I was helping the kingship to grow and to become independent and raise a great people.

The princes today have come back to me already. Even this morning, some came to me to say ‘we are sorry, we did not know that you meant well. You have been setting our history right, and the things we did not know before, you are making us to know them.’

In the history of Iwo land, this is the first time we will be connecting the Iwo stool with the Ooni of Ife, which means the Oluwo is a son of Oduduwa. We even have a ruling house there gazetted under the law which can produce a prince who can aspire to become the Ooni of Ife. That is a great eye opener, which God, through me, has brought to us in Iwo land. We have written the history, we have returned Iwo to the position it ought to be and I have made the people to know that the Oluwo is a natural ruler from inception in the whole of Yoruba land. Oluwo has never been relegated, he has never been a Baale before. The Iwo people did not know this until I became the king.

 

When I was saying it they said I was arrogant, but I am not arrogant. I know where I am coming from and that is what makes me to be strong for the future to know where I am going. Everyday the princes come here and say ‘Kabiesi, have you forgiven us? We went astray, we are your children.’ They even brought gifts. When they were doing all that over 90 per cent of the people of the land were with me when I stepped on the throne. Only a few of them who did not know, who were confused…because it was a new time and a new thing.

PT: Now that they have come to say they are sorry, have you really forgiven them?

Oluwo:  Why would I not forgive them? They are my children. They are princes. I was a prince before I became the king. If I were still a prince and I see a king that is doing a thing different from what others had done in the past, I may also have criticised him, unless God gives me the wisdom to know what it was that the king was doing. I had to put myself in their shoes. So I may not have known the right from the wrong, so if that is the case, I should not now look down on people who at a point in time, did not know the right from the wrong. The thing was that they did not know.

PT: You said you have been involved in developmental projects in Iwo land. Would you tell us where you are getting the funds to do roads and other similar projects?

Oluwo: We thank God for giving us wisdom. Ideas rule the world. Money don’t rule. You may have money, but without ideas, nothing will happen. But when you have ideas, especially to lead, you will make progress.

For instance, if you go to your area and you see a very bad road leading to your house. You know the road is not a federal road, not a state road and not even a local government road. You know that the government will not come and help you to fix it and the road is very bad. If you just start in the morning and you start knocking on the doors of all the landlords of that area, and you give them the idea of how the road can be fixed, you that have the idea would be made the leader of the community and they will entrust you to lead in ensuring the road is fixed. With ideas you can do a lot of things. Where the money comes from, I myself don’t know. But funds are coming and I myself also give from my pocket. Because as an oba that is working and also an active oba, there is no way you won’t be reckoned with. I am a working Oba.

PT: As a revered Oba in the Yoruba land, what are you doing to bring peace among traditional stools in serious conflicts in the south west?

Oluwo: The truth is that past traditional rulers in Yoruba land ruled and they did not impact the lives of people. We no longer want it to be like that. What I am advocating is that kings should show the people not only tradition, tradition, tradition, which are of the old. I am not against tradition, our tradition and culture is the best. But we have to move from obscurity into light and to make our tradition to be more attractive. Using all this red oil, all this black soap and putting it at junction and roundabout, who wants to see that? That is dirty. We are killing human beings for rituals, is that a good culture? Our culture is good, but when you put some things that is not good, like fetish things and all that stuff, then it is not good. When a culture condones killing of people for rituals, then that is a wicked culture. Culture is not wicked, it is the things added to it. I tell all the obas, if you can tell me the deity that Oduduwa worshipped, if you can just give me one deity that he worshipped, I will leave my crown, I will walk out of the palace and not be king anymore. Everything that Oduduwa laid down was good and that is how he became the father of all Yoruba people. He was not the first Yoruba man, but Oduduwa served the people diligently. You see, we call Oduduwa the father of the Yorubas. Which king has emanated from Ife that we can call the father of Yorubaland?

I am asking you that question. Which king that has emanated from the south west that you can say he is the father of the Yorubas? They call us royal fathers, but Oduduwa became the father of all Yorubas because he served. Do you know that we would have had another father of the Yorubas in the 60s and 70s and the 80s but he was not a king, he was only a leader, and that was Awolowo. Because you can see that he became the Premier of Western Region and he remembered the people, the downtrodden, he gave them free education. Who is doing that now? All we are doing is to get money for ourselves.

Money that is meant for millions, one person is taking it. I have told people that any politician that is seeking election and does not have anticorruption as a pillar of their policies should not be voted for;  because corruption is what is killing Nigeria. And if you don’t have good leadership, you cannot fight corruption in this country. There are no poor people in Kuwait, and Nigeria is richer than Kuwait. They say all fingers are not equal, all fingers are equal in United Arab Emirates . There is no one poor Dubai  and Nigeria is richer than UAE, Nigeria is richer than Kuwait, in terms of its resources and oil. We have it, and Nigerians are still suffering.

When it comes to kings, I am telling them to change their ways. Go and serve the people, don’t just sit down in the palace, go to the people, go to the communities, visit your subjects in their houses. Old ways is not now. You see my own style, I go to the people. I have eaten with the President, with governors and highly placed persons. I still go down to the people. Sometimes you will see me, I will leave the palace and will go and visit the people and start greeting them in their houses. I am talking about the lowest places in the society. I will go there and visit them and say to them, hi, this is your king. I am a father to them, my children cannot see me then I am not their father. I am not a ruler.

 

PT: You recently visited the Olubadan in his palace. What is your take on the crisis between the Olubadan and the government of Oyo State?

Oluwo: You see, traditional rulership has been having dents for long. The problem started from kings themselves. It is a kind of ignorance. It is not that they deliberately did it, they did not know. It was because instead of being fathers to the people, kings were only ruling. What Oduduwa laid down, people did not follow it and that is why we have problems. There is no way kings in Yoruba land will not go down because of the way we are going. You can see kings in the north are more respected than kings in the south west. Do you why? They have moved from what is called the old, blind tradition to a very high traditional. They do durbar today and make fun. We obas, we are the fathers of the nation, but we lost it, especially in Yoruba land. A king should not worship lesser gods. A king that does not have and should not have ‘this is the alfa praying for me, this is the babalawo doing something for me or this is the pastor that is doing this for me.’  A king is the one that has authority and he will say, be, and it will be so. If you represent God.

PT: You haven’t responded to my question on the Olubadan issue….

Oluwo: Yes, I will speak on it, that is where I am coming to when I started by saying we have lost it. Let me tell you the truth, government is the one that gives the right to become a king; the king doesn’t give the government the right to become the government. We should know that the power of the government cannot be eroded, we cannot disrespect the law. What is there is that the traditional system which doesn’t have anything left, other than people just want to respect you. If they want to respect you…if they want chieftaincy title, they want other things, they will come to you, but other than that, the king has no more powers. Do you know that if the king wants to do traditional title, somebody can even go to court and stop the king. If a king wants to build a palace, somebody can say I am the owner of the land and he can go and get injunction from the court. There is no power any more. But there are values. And if people want to respect you it is at their own discretion.

If the governor comes to you as a kabiesi and says he wants us to do something, without politicising it, if the Oba refuses, the governor can invoke the relevant sections of the law against the oba. So what I have to say is that the power of the government should not be eroded, but the traditional institution should not be reduced to nonentity and should not be reduced to thrash. I believe that the governor has done that as I heard. I have made some move to bring peace, and I want to wade into it to actually tell them their limits. I have told the Olubadan and I am trying to reach the government as well. I was told he went somewhere and had just returned and so we have not been able to sit to talk about it. There should be a balance. I would not want the traditional institution to be disrespected and at the same time will not want the government power to be eroded because it will not be good for our democracy.

PT: You were reported to have stopped the rain from falling at an occasion, how did you come about stopping the rain?

Oluwo: I can command the rain to stop. I have done it more than once. An oba who doesn’t worship lesser gods, an oba that worships no other thing than God who does not sleep. If you have a pastor that sleeps that you are relying on, you are going to lose. If you have an Imam who has a wife and when he sleeps by his wife in the night, you call him and he can’t pick your call, you know you are a loser. If you have a babalawo as your backbone, your backbone will break. I have only God. it is not about Islam, it is not about Christianity, it is not about babalawo, it is about divinity. Many things about the Yoruba culture and traditions are divine. Any function that I am attending and there is no canopy and there is rain coming I will tell it to go away. Many people have witnessed it in many places. There was even one with thundering and lightning, I said I am outside here, go back. There was another one, I told that rain, go to Lekki. Yes, and it would never rain. I have the power to say that, with the power of God and the position I am sitting in. That is why when I pray to God, I can command sickness to leave the person it is affecting to come to me. If I want to take anything like sickness or poverty from the land, I have to give it back to God that owns it.

PT: How will Saturday’s second coronation anniversary and your 50thbirthday ceremony rub off on Iwo people?

Oluwo: I did not want to do this, it is my people who have insisted that it should be done. I wanted to go to the poor, visit the less privilege and give to the poor, but they say it has to be done. Left for me, this will not be. It is not just preparing Chinese rice, great food and fixing a hall when some people are actually hungry, I didn’t want it, but they said no, they want me to celebrate, they are the ones that wanted it. Left to me I will just visit the poor, less privilege and that is it.

 

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Wema Bank Announces Grand Finale of Hackaholics 5.0: Set to Reward Winners With ₦75 Million Worth of Prizes

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*Wema Bank Announces Grand Finale of Hackaholics 5.0: Set to Reward Winners With ₦75 Million Worth of Prizes

 

 

Wema Bank, Nigeria’s foremost innovative financial institution and pioneer of Africa’s first fully digital bank, ALAT, has announced the grand finale of the 5th edition of its flagship youth and startup-focused tech competition, Hackaholics.

Launched in 2019, Wema Hackaholics is a groundbreaking initiative designed to harness the creativity and entrepreneurial spirit of Nigeria’s youth, providing them with a platform to turn their tech-driven ideas into reality. The highly anticipated Hackaholics 5.0 grand finale will take place on November 27th, 2024, under the theme, “Meta Idea: Capitalizing Africa’s Growth Through Innovation.” This year’s theme aims to showcase how tech-driven solutions can fuel Africa’s development by tapping into the continent’s growth potential through innovation and digital transformation.

The grand finale will bring together the brightest innovators from universities and tech communities across the country. These innovators will pitch their Digi-Tech solutions designed to solve real-world problems and contribute to Africa’s economic and social progress. The event promises to be the culmination of months of intensive competition, collaboration, and mentorship, providing a platform for youth-led tech ideas to reach new heights.

Announcing the date of the grand finale, Moruf Oseni, MD/CEO of Wema Bank, highlighted the bank’s vision for Hackaholics. “Hackaholics is more than a competition; it is a movement to equip Nigeria’s youth with the skills, networks, and resources needed to drive Africa’s digital transformation. The Meta Idea theme for this year is a call to action for young innovators to think beyond the present and design solutions that will capitalize on Africa’s growth. We are excited to see how our participants envision and build the Africa of tomorrow.”

Speaking on the prizes, the MD/CEO said “At the grand finale, participants will compete for exciting cash prizes, grants, and access to Wema Bank’s extensive network of investors, mentors, and industry experts. The total worth of prizes for this year is ₦75,000,000. The winning team will receive ₦30,000,000, the first runner-up will receive ₦20,000,000 and the second runner-up will receive ₦15,000,000 worth of prizes. Additionally, we will be awarding a special grant of ₦10,000,000 worth of prizes to the female-led team to encourage gender diversity in tech innovation.” He concluded.

Wema Bank’s Hackaholics is a testament to the Bank’s commitment to shaping Africa’s future through innovation and entrepreneurship. Hackaholics 5.0 began with a nationwide call for entries earlier in the year and has engaged over 10,000 aspiring tech innovators and entrepreneurs across Nigeria. With 2,297 applications across 8 physical pitch centers and 1 virtual pitch center, 34 innovators across all locations are set to pitch their ideas at the pre-pitch stage ahead of the grand finale scheduled to hold in Lagos.

Through Hackaholics, Wema Bank has provided a platform for youth to channel their creativity and entrepreneurial spirit into actionable tech solutions that address Africa’s most pressing challenges. Over the years, Hackaholics has grown into one of the largest and most influential tech competitions in Nigeria, impacting thousands of young minds.

The competition not only offers winners cash prizes and grants, but also access to mentorship, industry networks, and resources to help scale their innovations globally. This initiative is a key part of Wema Bank’s broader strategy to harness technology as a driver of socio-economic growth in Africa.
Interested individuals can register to attend the grand finale via https://hackaholics.wemabank.com/grandfinale

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ATMs empty as banks ration withdrawals

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ATMs empty as banks ration withdrawals

ATMs empty as banks ration withdrawals

 

The Automated Teller Machines of Deposit Money Banks have consistently remained empty in recent months as banks grapple with a sustained low cash supply.

It was also gathered on Wednesday that some DMBs, particularly in the Federal Capital Territory, have begun another round of cash rationing, restricting maximum over-the-counter withdrawals to a daily limit between N5,000 and N20,000.

While banks struggle to get cash, Point-of-Sales operators have been fulfilling the cash needs of customers.

Speaking at the Facts Behind the Rights Issue Presentation of FBN Holdings at the Nigerian Exchange Limited recently, the Executive Director/Chief Financial Officer of First Bank, Patrick Iyamabo, said that the matter was an industry-wide one and not peculiar to a specific bank.

He said, “It is an industry problem. Most customers after exhausting the options available in other banks, tend to settle at FirstBank to address their cash needs. The challenge differs by location but we know it is a challenge that the regulator is looking into to address. But as we speak of physical cash, we must appreciate that the direction of the industry is to go digital.

“A lot of our customers do most of their transactions digitally, and you heard the GMD speak to this, very often people don’t want to transact in cash. In terms of this new order, your bank, FirstBank is very well positioned so if you look at the statistics and I’m speaking to independent statistics, just pick up your NIBSS report, the bank with the most stable platform meaning availability to always transact digitally is FirstBank. So, all our customers have the benefits of having their cash in First Bank and having access to this cash anytime anywhere and as necessary. It’s a huge advantage.”

Speaking anonymously with The PUNCH, a banker at a tier-1 bank put the blame on the Central Bank of Nigeria.

“It is what CBN has given us that we are using. We are confined within the limits of what is available to us. Also, because we are a big operation, we have to deal with many other businesses.

“Have you also noticed that there is a boom in the PoS business? Those people don’t take their money to the banks. The money comes out of the banks and it stays within their circle. They warehouse their funds, unlike you and I who would withdraw money and spend it which will eventually find itself back into the formal banking system. It is not the same with them. They warehouse their funds and distribute it among themselves.”

According to data from the CBN, currency outside the banks hit N4.02tn in September from N3.86tn in August. This brings it closer to the value of currency in circulation which stood at N4.31tn in September.

Meanwhile, some PoS operators on Lagos Island have increased their charges from N200 for cash of N10,000 to N300.

This was observed at both the CMS bus stop and at Obalende. However, off Lagos Island, the rates had remained at N200 for cash withdrawal of N10,000.

It was further gathered that banks have begun cash rationing, restricting maximum over-the-counter withdrawals to a daily limit between N5,000 and N20,000.

Findings by The PUNCH showed that the development is gradually leading to cash shortage, as many ATMs were non-functional, leaving customers with no choice but to seek alternative means of withdrawing cash.

As a result, many people have turned to Point-of-Sale operators, who have become the primary channel for cash withdrawals, albeit often at higher transaction fees.

Major commercial banks visited by one of our correspondents on Wednesday claimed not to have sufficient cash allocation hence the ration withdrawals to serve more customers.

The banks visited include Guaranty Trust Bank, Zenith Bank along Airport Road, and EcoBank at Jabi in Abuja.

A bank customer at EcoBank, who spoke without mentioning her name, said she was only allowed to withdraw N5,000 from N20,000 previously allowed.

“I was just informed that I can only withdraw N5,000 from my account. Can you imagine? The amount will can’t even take me home.”

Our correspondent received the same answer when he attempted to obtain cash.

At GTBank and Zenith Bank along the airport road, customers were permitted a maximum withdrawal of N20,000 from N100,000 previously disbursed as a daily limit.

 

A customer, Mr Faith, who visited the bank expressed shock about the new limit. He said the banks didn’t give any cogent reason for reducing the withdrawal limit.

“I just visited these banks, and I was informed that I can only withdraw N20,000 from N100,000, which was the previous limit. They didn’t even give any reason for reducing, now I have to start looking for cash elsewhere. This country is just so annoying,” He vented.

Cash scarcity became a recurring and widespread issue across Nigeria after the Central Bank of Nigeria introduced a controversial policy in January 2023, which significantly reduced the daily and weekly cash withdrawal limits to N100,000 daily, N500,000 weekly for individuals, and N5m for business entities.

This decision, aimed at encouraging a cashless economy, led to long queues at ATMs, increased difficulty in accessing physical cash, and a general disruption of daily financial transactions for millions of Nigerians.

The policy’s impact was felt particularly by those in rural areas and lower-income groups, who rely heavily on cash for their day-to-day needs, exacerbating economic hardships across the country.

Last week, data from the CBN showed that currency in circulation climbed 56.1 per cent year-on-year to reach N4.31tn, up from N2.76tn in September 2023, reflecting an increase of N1.55tn.

This is just as currency outside banks surged by 66.2 per cent in September 2024, reaching N4.02tn compared to N2.42tn in September 2023, a notable rise of N1.60tn in just one year.

This indicates that the volume of currency retained outside the banking sector outpaced the total released for circulation within the past year.

Compared to August 2024, currency in circulation rose by 4.0 per cent month-on-month, adding N166.2bn from the previous figure of N4.14tn.

The CIC is the amount of cash–in the form of paper notes or coins–within a country that is physically used to conduct transactions between consumers and businesses. It represents the money that has been issued by the country’s monetary authority, minus cash that has been removed from the system.

Earlier in September, the CBN announced plans to sanction banks that fail to dispense cash through their automated teller machines, as part of efforts to improve cash availability in circulation.

The CBN also revealed plans to release an additional N1.4tn into circulation over the next three months to ease cash flow within the banking system.

This strategy aims to ensure that ATMs and bank branches have sufficient cash, addressing ongoing challenges faced by customers over cash shortages.

Efforts to get a reaction from the apex bank on the new situation proved abortive as the acting Director, Corporate Communications, Sidi Ali Hakama, did not respond to enquiries sent to her phone number.

 

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NNPCL Makes New Leadership Appointments

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NNPCL Makes New Leadership Appointments

NNPCL Makes New Leadership Appointments

 

The Board of Directors of Nigerian National Petroleum Company Limited (NNPCL) has just made fresh leadership appointments.

A communication by Olufemi Soneye, Chief Corporate Communications Officer of the nation’s oil company, announcing the development reads…

The Board of Directors of NNPC Limited is pleased to announce a series of strategic leadership appointments. These changes
reflect our continued dedication to enhancing corporate governance, improving operational efficiency, and ensuring long-term success in Nigeria’s energy sector.

The following key appointments have been made:
1. Mr. Adedapo A. Segun has been appointed as the Chief Financial Officer (CFO). Mr. Segun previously served as the Executive Vice President, Downstream, where he made significant contributions to the company’s downstream operations.
2. Mr. Isiyaku Abdullahi has been named Executive Vice President (EVP), Downstream.
3. Mr. Udobong Ntia has been appointed Executive Vice President (EVP), Upstream.

These appointments align with NNPC Limited’s commitment to building a unified and competent leadership team to drive operational excellence and support the organization’s strategic objectives.

The Board and Management also extend their deepest appreciation to Mr. Umar Ajiya and Mrs. Oritsemeyiwa A. Eyesan for their outstanding dedication and service to NNPC Limited.

NNPC Limited remains committed to achieving operational excellence, enhancing global competitiveness, and ensuring financial sustainability, while prioritizing the interests of the Nigerian public in the petroleum industry.

Olufemi Soneye
Chief Corporate Communications Officer
NNPC Limited
November 13, 2024S

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