The choice of the Nigerian President is as critical for the country as the appointments into key offices are to a new government. Two of the key offices that President Bola Ahmed Tinubu must appoint the right persons into, based on the current realities of Nigeria, and if his administration must succeed, are the National Security Adviser (NSA) and the governor of the Central Bank of Nigeria (CBN).
With regard to the NSA, the country has for too long ‘zoned’ the position to retired army Generals. Conventional wisdom would suggest that this is probably the direction to look. But, alas, this very traditional approach has not served the country well. Despite the military background of the NSAs, insecurity in the country has assumed multiple dimensions rather than generally abating.
It may not necessarily be that the retired Generals that have been so appointed were all incompetent. It is, rather, very likely that a sense of entitlement may be running deep in that ‘constituency’. This inevitably compromises performance. An ‘inside view’ of the security problems of the country by the retired Generals could also be limiting. But in several domains of decision-making, having an ‘outside view’ – also called the reference class approach – has worked better. For the new NSA, understanding the nation’s internal security challenges in the context of our social, economic, and cultural challenges are necessary.
This is why President Tinubu has to try a different option. In this regard, it is interesting that Mr. Nuhu Ribadu, a former senior police officer and pioneer Executive Chairman of the Economic and Financial Crimes Commission (EFCC), has been speculated as the choice of Mr. President for the NSA. His alternative credentials are quite strong for the role.
With regard to appointing the CBN governor, a paradigm shift is necessary. The apex bank has not only spectacularly failed to deliver on its core mandates of monetary and price stability as well as issuance of legal tender currency, but it has also terribly malfunctioned. This has had serious and wide-ranging repercussions for the economy – including dwindled foreign investment inflows to the country. To reverse the apathy of foreign investors towards Nigeria, like the President said he would do in his inaugural speech, certain tendencies must be avoided. Appointing a political loyalist to the position can badly backfire – both for the administration and the economy.
The second tendency to avoid is to appoint a regulated entity as a regulator of the industry where he or she would have developed entrenched interests. Therefore, the last two substantive CBN governors were appointed from their positions as bank CEOs. This is very risky. The likelihood of such a CBN governor to pursue vendettas against his or her previous competitors in the industry is considerable. So is conflict of interest, and the possibility of his or her continuing to be transactional in their new position.
The President should guard against these dangerous inclinations in appointing the next CBN governor. The right candidate is one that can command respect of various market participants and wider stakeholders, including the generality of Nigerians. This requires that such a candidate is locally- and internationally-recognised, has high intellectual capacity necessary for public policymaking. A professional profile with a strong combination of senior-level experience in international organisations, academia, and central banking makes such a CV very compelling.
What best serves the interest of President Tinubu is a CBN governor that can lead the central bank to clear success with regard to its core mandates. Although the CBN is statutorily independent, the President that appointed a performing governor of the bank would naturally share in the credit for the stellar performance. Also, a competent monetary authority would indirectly contribute to good fiscal policy performance
#SaferKwara: Governor AbdulRazaq Meets Army Chief
Kwara State Governor AbdulRahman AbdulRazaq receives Commander 22 Armoured Brigade Ilorin Brigade General Adebayo Abdulrahman Babalola at Government House, Ilorin.
During the visit, the Governor explored strategies for strengthening security in the state with the Army chief.
Military personnel have made several efforts to dislodge security threats from the state.
The Army chief reiterated that the operations will be sustained to keep the state safer for peaceful and law-abiding residents.
Football is coming home! UK & Republic of Ireland set to host Euro 2028 as Turkey withdraw bid
The United Kingdom and Republic of Ireland look set to host Euro 2028 after the Turkish FA withdrew its bid to host the tournament.
The Turkish FA has officially withdrawn its bid to host Euro 2028 in order to focus on its plan to co-host the tournament with Italy in 2032. UEFA has now approved the joint proposal, which was first announced in July.
Turkey’s withdrawal from the 2028 bidding process means that the UK and Republic of Ireland’s bid will now run unopposed. Wembley Stadium hosted the semi-finals and final of the delayed 2020 European Championship, but the UK has not hosted an entire major tournament since 1996.
Both bids will require official approval at a meeting of UEFA’s executive committee on Tuesday. An official statement from UEFA read: “The presentations at that meeting will be an important part of the process which will take due consideration of the content of the bid submissions before reaching a decision.”
If approved, then Euro 2028 will be hosted in the UK and Ireland. Among the ten proposed stadiums are Wembley Stadium, Hampden Park and the Aviva Stadium in Dublin, as well as the currently unbuilt Bramley Moore Dock stadium in Liverpool and Casement Park in Belfast
Messi makes decision on when he will leave Inter Miami
Lionel Messi has reportedly decided where he will end his playing career, but it won’t be in Miami or Barcelona.
Messi’s Inter Miami contract is set to expire in 2025, at which point – according to El Nacional – he will look to return to boyhood club Newell’s Old Boys in his native Argentina. There is an option for the World Cup winner to extend his deal with Miami for an extra year, but the report states that he wants to retire in his homeland.
Messi left Barcelona in 2021 after more than two decades at the club, having joined the Spanish giants from Newell’s as a 13-year-old. He snubbed a return to Camp Nou when he left Paris Saint-Germain over the summer, and it now looks like a fairy tale return to Barca is never going to happen.
Messi scored 10 goals in his first seven games for David Beckham’s Miami franchise, but he has spent the past month injured. He will play a farewell match at Barcelona at some point, even if he does not return to play for the club
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