Olugbenga Olaleye gets Ogun Internal Revenue Service (OGIRS) Chairman position.
Ogun State Governor, Prince Dapo Abiodun, has appointed Mr. Olugbenga Anthony Olaleye as the new chairman for the State Internal Revenue Service, OGIRS.
A renowned accountant, auditor, mortgage banker and tax consultant, a statement by the Governor’s Chief Press Secretary, Mr Kunle Somorin, said the new OGIRS boss, comes to the job with practice experience spanning more than 34 years.
Somorin said the new OGIRS chairman, “started his career with extensive exposure in Accounting, Audit, and Tax Management Consulting with international firms of Deloitte, PricewaterhouseCoopers (PwC) and Arthur Andersen (now KPMG in Nigeria).
“A distinguished Fellow of the Institute of Chartered Accountants of Nigeria (FCA), a Fellow of the Chartered Taxation Institute of Nigeria (FCTI) and a John Maxwell (JMT) certified coach. A well-trained Tax, Accounting and Management professional with highly rated qualifications and professional practice and licenses from relevant professional bodies, Mr Olaleye had his first degree in 1984 from the University of Calabar and was the best graduating student for in Mathematic/Education Department. He qualified as a Chartered Accountant in 1989, became a Fellow of ICAN in 1997. He became a Fellow of the Chartered Taxation Institute (FCTI) of Nigeria in 2011. He had two international mini-MBA Certifications from CWC School for Energy and American Management Association (AMA), USA.
Gbenga has attended various international and in-country Management Development Programmes with renowned organisations such as Lagos Business School (LBS), Management Centre Europe (MCE), PetroSkills USA, to mention a few, ”, the statements further reads.
Mr Olaleye spent 12-year career with Diageo Plc, the parent company of Guinness Nigeria Plc (GNPlc), working across Africa and the United Kingdom, which further gave him deep and extensive international experience. He was the Chief Financial Officer (CFO) of South Atlantic Petroleum Ltd. (SAPETRO), an indigenous Upstream Oil & Gas company in Nigeria for over 6 years to April 2016.
His major skills cover almost all areas of Accounting, Auditing, Taxation, Management Consulting, Corporate Finance, Receiverships & Liquidations, Project Evaluation, Risk Management, Internal Audit, Controls & Compliance, Strategic Planning and People Development. He is also culturally sensitive to enabling environment and the people.
The Governor wishes Mr Gbenga Olaleye a successful tenure as OGIRS chairman.
A new dimension has been introduced into the recent robbery incident that took place at the residence of late Moshood Kashimawo Olawale Abiola as two sons of the late business mogul, Kassim and Aliyu, have approached a Lagos State High Court sitting in Ikeja for the enforcement of their fundamental rights.
Kassim and Aliyu were arrested and detained over the robbery incident which took place on September 2, following a complaint that was lodged by their step-mother, Adebisi Abiola, after the robbery incident.
They told the court that they were discriminatorily singled out as a result of a complaint by their step-mother, which accused them of complicity in the robbery.
The duo had applied for the enforcement of their rights to personal liberty, dignity of person, right to private and family life, as well as right to freedom of movement, praying the court that they were unlawfully arrested and detained at the Special Anti-Robbery Squad in Ikeja.
Lagos State Commissioner of Police, Hakeem Odumosu, was cited as the sole Respondent in the suit, which the Applicants filed through their lawyer and human rights activist, Mike Ozekhome, SAN.
They prayed the court to specifically declare that: “The arrest without warrant and subsequent and continuous dehumanisation and detention of the Applicants since the 2nd September, 2020, by operatives of the Respondent on the alleged Complaint of one Mrs. Adebisi Abiola, is illegal, unlawful, wrongful and constitutes a blatant violation of the Applicants’ fundamental rights as enshrined in Section 35 (1) (4) & (6), 37, 41 (1), 44 (1) and 46(1) of the 1999 Constitution of the Federal Republic of Nigeria, as altered, Sections 2, 3(1) (2), 17(1) (2), 18 (1) (2) (3), 19, 21 of the Administration of Criminal Justice Law, Lagos State, 2015, and Articles 5, 6 & 14 of the African Charter on Human and Peoples’ Rights Ratification and Enforcement Act Cap A9, Laws of the Federation of Nigeria 2004.
“A declaration that the arrest and subsequent dehumanisation and the continuous detention of the Applicants since the 2nd September, 2020, by operatives of the Respondent on the alleged Petition/Complaint of one Mrs. Adebisi Abiola, without granting them administrative bail within 24 hours of their arrest, are illegal, wrongful, unlawful and constitutes a blatant violation of fundamental rights as enshrined in Section 35 (1) (4) & (6), 37, 41 (1), 44 (1) and 46(1) of the 1999 Constitution of the Federal Republic of Nigeria, as altered, Sections 2, 3(1) (2), 17(1) (2), 18 (1) (2) (3), 19, 21 of the Administration of Criminal Justice Law, Lagos State, 2015, and Articles 5, 6 & 14 of the African Charter on Human and Peoples’ Rights Ratification and Enforcement Act Cap A9, Laws of the Federation of Nigeria 2004.
“A declaration that the Applicants are entitled to public apology and adequate compensation from the Respondent as provided for by section 35(6) and 46(1) of the 1999 Constitution of the Federal Republic of Nigeria, as altered, Sections 2, 3(1) (2), 17(1) (2), 18 (1) (2) (3), 19, 21 of the Administration of Criminal Justice Law, Lagos State, 2015, for the blatant violation of the Applicants’ fundamental rights without following the due process of law.
“An order of perpetual injunction restraining the Respondent whether by itself, its agents, employees, operatives, detectives, investigating officer(s), or by whatever name called, from further inviting, arresting or detaining the Applicant on the facts of an alleged Petition/Complaint made by one Mrs Adebisi Abiola, in relation to a purported or alleged robbery incident to which they know absolutely nothing about; and
“An order of this honourable court directing the Respondent and his operatives and agents to release forthwith the Applicants from the detention of the Special Anti-Robbery Squad, detention centre of the Respondent.”
Apart from demanding for an apology, the Applicants equally asked for an order to compel the Respondent to pay them N100 million as exemplary damages for the “wanton and grave violation” of their fundamental rights.
In a 21-paragraphed affidavit that was deposed to by Ubong Ikon, a Litigation Clerk in Ozekhome’s Chamber, the Applicants alleged that police officers forcibly broke into their homes and arrested them with seven other people.
“The Applicants were tortured, totally humiliated, dehumanised and terrorised, with a crowd of people swarming the premises to witness the ugly scene in the home of MKO Abiola, the former Presidential aspirant of the Social Democratic Party.”
The Applicants said they were informed that their arrest was as a result of a complaint by their step-mother to the effect that a robbery incident took place in their home.
“That suspected armed men invaded the residence and carted away valuables, including money.
“That the Applicants were thereafter roughly man-handled and bundled into the operatives’ vehicle and sandwiched between fully armed operatives of the Respondent, while one of them drove them like convicted criminals to the office of the Respondent,” they alleged.
It was gathered that the Applicants, who are both self-employed, were arrested at their homes by the police in Lagos State over a robbery incident that was said to have occurred inside premises they share with many other persons.
They told the court that though police had since conducted several searches at their apartments, nothing incriminating or connecting them with any alleged stolen item belonging to their step-mother was found.
Insisting that they were illegally arrested without warrant, the Applicants maintained that police lacked the constitutional rights to keep them in custody for more than 24 hours without an order of a court of competent jurisdiction.
They described the suspicion of their alleged involvement in the robbery as “completely false and malicious in its entirety,” saying the allegation was “meant to disparage their persons and their immediate nuclear family, not being biological children of the Complainant.”
The deponent further averred that the Applicants are also students that are about to travel abroad to the United States of America for further international studies.
“That their being singled out for continuous detention and torment is simply because they are not the biological children of the Complainant, Mrs. Adebisi Abiola, as her own children and aides staying in the same premises were left untouched.
“That the Applicants are in a very pitiable condition of mental agony and psychological depression, having not been in such an environment before and especially as they insist they are innocent of culpability in the alleged robbery.
“That the Applicants are ready and willing to stand trial if and whenever they are arraigned for any offence since investigation has long been concluded by the Respondent’s operatives, but are merely being subjected to ridicule, harassment, degrading treatment and torture,” they further alleged.
The Applicants have also filed an exparte motion and an affidavit of urgency, wherein they prayed the court to hear their case within the ongoing vacation period.
When the case came up on September 11 before Ikeja High Court vacation Judge, Justice Abiola Soladoye, Messrs Chimaobi Onuigbo and Ejieke Onuoha, holding the brief for Ozekhome, prayed the court to grant bail to the detainees due to their poor health and lengthy detention period in SARS dungeon since September 2.
The judge, however, directed that the police commissioner, who is the sole defendant in the matter, be put on notice about the suit. She consequently adjourned the matter to October 15 and ordered that the file be returned to the Assistant Chief Registrar for a re-assignment to a non-vacation judge for hearing.
Presidential Candidate of the African Democratic Congress (ADC) Obadiah Malaifa.
The Department of State Services (DSS) has summoned for the third time, a former Deputy Governor of the Central Bank of Nigeria Dr. Obadiah Mailafia.
Malaifa, a banker turned politician and Presidential candidate of the African Democratic Congress in the 2019 election, has been in and out of interrogation rooms since he granted an interview where he stated that an unidentified northern governor was the leader of the terrorist group known as Boko Haram.
On August 12 Mailaifa was guest of the DSS at the agency’s office in Jos. He was invited again on the 17th of August 2020 after he refused to back down on his claims.
Malaifa had claimed that weapons were distributed to several parts of the country during the lockdown, adding that terrorists had infiltrated Lagos, comments he later withdrew, stating that he got the information from a third party.
According to the latest invitation letter addressed to Mailafia, which was made available to journalists, the DSS did not reveal the reason for the invitation.
“It is true. I have been invited to their office in Jos. I was asked to appear at 11 am on Monday,” he told Punch.
Last month, Mailafia had approached a High Court in Plateau State for the enforcement of his fundamental rights to personal liberty and fair hearing in a bid to prevent the police from arresting him.
However, it was learnt that the security agents were being prodded by the Federal Government to ensure that the economist is arraigned in court.
The Nation had reported that in a telephone conversation, Mailafia lamented as unfortunate how two security agencies were investigating him at the same time.
“This is one of the reasons why I am in court. I am being invited by the DSS and the police at the same time. It is an abuse of my rights,” he said.
“Please, pray for me. I have reasons to believe that my life is in danger and that some powerful political forces want to silence me forever for speaking the truth.
“For speaking on behalf of the Holy Martyrs — of thousands of innocent children, women, elderly and youths that have been killed in our beloved country,” Mailafia added.
I was watching a cookery program with my younger daughter and her elder brother, whose feigned interest was so easy to see through. He was far more concerned with getting the latest premiership team news on his phone but I chose to ignore this and dragged him into our conversation anyway.
The host of the cookery program, himself a celebrated chef, was praising one of the junior “chefs” (a child who couldn’t have been more than 11 years old) that his pasta dish was one of the best he had ever tasted. Not one of the best made by a child but by anybody, even other chefs. This got me thinking. How did this child make a dish so much better than so-called experts? I turned to my children and asked them a question which I know has a very obvious answer. “What makes adult cooks better than young cooks?” At least generally. And of course they blurted out the obvious, which were all absolutely correct. Adult chefs have more know-how, as a result of age, experience and so on.
I then asked the question which took us to where I actually wanted to go. “Why is it that at times, child cooks produce magically good dishes that blow seasoned chefs totally out of the water? What enables them to achieve this?” Thankfully, they both pretty much got it, so I was saved the agony of spending the rest of the evening agonizing and wondering why I’ve been spending quite so much on their school fees. Still, I tried to explain further and put it in my own words, just to give them greater clarity in understanding.
Children are by nature less held captive by convention. They dare to peer at and are subsequently able to see what adults dare not even take a peek into, all because they (adults) have been taught over time, the combinations that work and those that supposedly don’t.
Sometimes, it goes beyond what they’ve been told though. Experience, which we place so much premium on, may have conditioned their minds to accept what works and what apparently doesn’t. Numerous failed attempts could have evaporated the last drop of adventure in them and whipped them into the line of conventional thinking. Children on the other hand are not constrained by such. To them, anything is possible once they can imagine it. Rather than an uncanny knack of peering at a knotty issue, the best thing children have going for them is actually the opposite. They succeed where adults fail because they just get on with it without any doubt that they will succeed. Unlike adults, they’re not hindered by 1001 reasons of why it won’t work. They just make it happen because they refuse to entertain the thought of it not working.
In that wonderful book, Nudge, by Richard H. Thaler and Cass R. Sunstein, we learn that the authorities at Schiphol Airport in Amsterdam came up with an ingenious strategy to tackle the problem of careless aiming into the urinals by travellers who patronize their public lavatories. I want to believe they must have already trod the usual route of putting up notices, soliciting the cooperation of their patrons but hadn’t enjoyed much success. They then employed a method which took everybody’s eyes off the problem they were trying to tackle but instead appealed to the little boy within all of us, who doesn’t just love playing games but always wants to win.
A strategically positioned image of a housefly was etched in each urinal and because boys will always be boys, irrespective of their age, their attention shifted to “aiming” at the fly as soon as they saw it. Little did they know, it was simply a nudge for them to aim correctly. Careless shooting which had always left the floor in a terrible mess was reduced by a staggering 80% and essentially became history from that point onwards. Clever, eh? Possibly exasperated having tried so many different strategies and failed, it was time to think out of the box. It was time to try a less frontal and less obvious approach. But was it simple? Very. It’s one of the many things we hear about that makes us ask, “why didn’t I think of that?”
Many a time, we’re better off keeping things simple. In the book, “Good To Great”, the author Professor Jim Collins, came to a conclusion after spending several years tediously researching businesses and trying to understand why some were able to make the leap from good to great. Supported by volumes of largely incontrovertible statistics, he affirmed that those who made the transition from good corporate entities to becoming great organizations were the ones who were wise enough to streamline their operations, narrow their ambitions and aim for simple goals.
They identified what they could do better than everyone else while acknowledging and confronting the brutal facts. Those whose nebulous ambition was just to become “the biggest and the best” never achieved either. The great companies had succeeded in making their company goals simple by removing unnecessary complexities. They managed to focus the attention of their employees in a particular direction. Clear, precise and simple goals did the trick. Oh yes, there were a couple of other things too but to put it in his own words, one of the most critical was an ability to, “Retain faith that you will prevail in the end, regardless of the difficulties”. He called this the Stockdale Paradox and it’s a notion totally unrelated to baseless optimism. It’s a sturdy belief in oneself even after taking all factors into consideration, that one will succeed.
To parents whose children are still young, my advice is that you allow them to remain in the naïveté that anything is possible for as long as you possibly can. There’s no special place in history kept for those whose mantra is, “forget it, it can’t be done”. Only for those who managed to take us beyond what we ever dared believe possible. It’s time many of us unlearn some of the “facts” that have held us back for so long and quickly acquaint ourselves with truths that can set us free to fly. Great men and women have always emerged from the company of those who said “Yes, I can”.
Changing the nation…one mind at a time.
Oladapo Akande is a Surrey University (UK) English graduate with a Masters in Professional Ethics. He’s an alumnus of the National Institute for Transformation and a two time author; The Last Flight and Shifting Anchors. He writes from Lagos.
A two-year transitional government led by a president chosen by the army has been proposed by Experts appointed by Mali’s military junta on Friday.
AFP reported that the proposed deal was contained in a document that has been submitted to hundreds of participants at a three-day forum in Bamako aimed at mapping a way forward for the troubled country.
The transitional government proposal stated that the president would be a “civil or military personality”.
The ongoing dialogue, which is in its second is between the young officers who overthrew President Ibrahim Boubacar Keita on August 18 and civilian representatives, many of whom had taken to the streets to demand for the resignation of the ousted president.
Hours after the August coup, the coup leaders pledged to restore civilian government and stage elections within a “reasonable time”.
However, a major concern for participants at the ongoing forum is how long a transition government should last and what role the army should play. These issues have now divided the discussants at the ongoing talks expected to conclude on Sunday.
While the 15-nation Economic Community of West African States (ECOWAS) has insisted that the junta hand over power within 12 months, an influential imam viewed as the figurehead of the June 5 Movement which waged a protest campaign against Keita Mahmoud Dicko, has also backed a swift return to civilian rule.
Arsenal’s backup goalkeeper, Emiliano Martinez is set to leave the Gunners this summer.
Martinez’s performance while standing in for injured Bernd Leno last season, adjudged impressive, sparked intense debates among Arsenal fans about who should be the first choice goalkeeper after seeing the Argentine’s ability.
Arsenal chief, Mikel Arteta is however keen on doing everything possible to keeping the back up goalkeeper offering a new deal.
The Argentine, who was also very crucial to Arsenal’s triumph in the FA Cup and Community shield was said to have turned down the latest contract offer as he is focused only on a deal that gets him more regular first-team football.
A major factor fuelling Martinez’s decision to quit the Arsenal side is Bernd Leno’s return to action. The first-team favoured goalkeeper’s return would see him start ahead of Martinez in Arsenal’s Saturday game against London neighbours, Fulham.
It is likely that Martinez joins Aston Villa if he pushes through quiting Arsenal after the former tabled two bids for the 28-year-old.
Amidst interest from Laliga side Villareal, reports suggested that Martinez would prefer to stay in England .
Lagos State Commissioner of Police, Hekeem Odumosu, has approved the appointment of a Judicial Liaison Officer (JLO) for the command to work with the Legal Aid Council of Nigeria, agencies, relevant non-governmental organisation and civil society organisations to promote smooth and prompt dispensation of justice in the state.
The commissioner thus appointed Cardoso Yetunde, OC Legal Lagos State, to liaise between the council and agencies and the police to make sure the command’s Human Rights Desk is active; and always expedite actions on cases and matters related to administration of justice in the state.
Odumosu, in a statement by the Police Public Relations Officer, Olumuyiwa Adejobi, stated this on Thursday while receiving in his Ikeja office a delegation from the Legal Aid Council, South-west Zone led by Lateefat Salawu.
He assured the council of his commitment to support its efforts on the Police Duty Solicitors Scheme (PDSS) which provides enabling atmosphere for easy access to police facilities and suspects by designated members of the council.
Responding, Salawu, who was accompanied by the representatives of the Nigerian Bar Association (NBA), Lagos State chapter, Okey Ilofulunwa, European Union, among others commended the police chief for his proactiveness and spontaneous response to issues and protection of lives and property.
She also promised that the council would work in partnership with the police to ensure prompt dispensation of justice to strengthen the Criminal Justice System in the state.
A sitting Judge of of the High Court, Queens Bench Division in charge of the Administrative Court, Ross Cranston, has ordered P&ID to make a substantial interim payment within 21 days to cover legal costs the Federal Republic of Nigeria (FRN) incurred as part of the country’s recent successful application for the extension of time to challenge the arbitration award and procedural hearing.
Though a case management conference to determine the full trial window is scheduled to take place after November 2020, the Special Assistant on Media and Public Relations in the Office of the Attorney-General and Minister of Justice and Attorney General of the Federation, Umar Jibrilu Gwandu, described the latest development as a crucial win.
According to him, “This is another crucial win for Nigeria in our ongoing fight against the vulture-fund-backed P&ID. We are pleased that the English Courts have taken our fraud challenge seriously, and awarded us a substantial interim payment in respect of our successful application for an extension of time to challenge the award.
“This is a significant blow for P&ID, who continue to attempt to delay the process.
“To date, P&ID and its financial backer VR Capital have not produced a single document or credible witness to challenge FRN’s fraud evidence.
“Instead, P&ID has continued to resort to disseminating misleading claims, while taking every step possible to delay or obstruct our investigations across multiple jurisdictions.
“FRN remains firmly committed to overturning the injustice of the $10 billion award, and will not rest until we secure justice for the people of Nigeria – no matter how long it takes.
“Investigations into GSPA are ongoing, and we are confident that more of the truth will be revealed over the coming months.”
In a related development, the Attorney-General of the Federation and Minister of Justice, Abubakar Malami, SAN, has said FRN is not considering any possibility of negotiations with P&ID.
Malami, in a statement by Gwandu, said: “There will be no negotiation or talk of settlement with P&ID or any related party by or on behalf of the Federal Government of Nigeria.
“The recent judgment of the English Commercial Court confirmed our view
that P&ID and its cohorts are fraudsters who have exploited our country. They will not benefit from their corrupt behaviour.
“This is a classic case with overwhelming fraudulent and corrupt undertones. The Federal Government of Nigeria is not considering any possibility of negotiations with P&ID.
“It is has not only fallen within the tall order exception referred to by the Hon. Attorney General in his interview with Arise TV yesterday, but lacks any legitimate foundation.
“We will not and cannot negotiate arbitral awards where the basis and foundation rely on fraud, corruption, breach of processes and procedures.
“The Government remains wholly committed to fighting this case to overturn the exorbitant award without paying a single naira of public money to these fraudsters.”
Nigeria has overtaken India as the world capital for deaths of children under the age of five.
This was based on the 2020 mortality estimates released by the United Nations Children’s Fund (UNICEF), indicating that Nigeria recorded 209,000 neonatal deaths in 1990 – a 61,000 increase compared to 270,000 deaths in 2019.
In the same vein, the figures for number of deaths among children aged five to 14 also increased from 104,000 in 1990 to 119,000 in 2019.
The report explained that while child deaths were uneven across regions, the situation is worse in sub-Saharan Africa and Central and Southern Asia.
It added that while the pandemic had limited direct impact on child mortality, countries worldwide are now experiencing disruptions in child and maternal health services due to resource constraints and a general uneasiness with using health services due to a fear of contracting novel Coronavirus (COVID-19).
The World Bank had in 2018 said Nigeria would take over from India as the world capital for deaths of children under the age of five by 2021.
The bank’s report was based on the fact that India, with a population of 1.3 billion recorded 989,000 under-five deaths in 2017, while Nigeria, with 196 million citizens recorded 714,000 deaths in the same year.
Speaking on the development, UNICEF Director, Henrietta Fore, said: “The global community has come too far towards eliminating preventable child deaths to allow the COVID-19 pandemic to stop us in our tracks.
“If the child survival targets are to be met on time, resources and policy must be geared toward not only sustaining current rates of decline but also accelerating progress, which would save millions of lives.
“If the trends from 2010 to 2019 continue, 53 countries will not meet the Sustainable Development Goal (SDG) target on under-five mortality on time – if all countries were to meet that target, 11 million under-five deaths would be averted from 2020 to 2030.
“Achieving the child survival goals and heading off a reversal of progress in child survival in 2020 will require universal access to effective, high-quality and affordable care and the continued, safe provision of life-saving interventions for women, children, and young people.
“If all countries reach the SDG child survival targets by 2030, 11 million lives under age five will be saved – more than half of them in sub-Saharan Africa.”
In its bi-annual economic update on Nigeria, the World Bank said Nigeria records the highest number of child malaria deaths anywhere in the world, adding that Nigeria had the highest number of out-of-school children anywhere in the world, and that 90 per cent of these children are from Northern Nigeria.
“Nigeria’s weak revenue mobilisation has major implications for its growth and development, including for improving its dire social service delivery outcomes.
“Poverty remains high in Nigeria and access to basic social services is not universal. In 2016, the World Bank estimated poverty at 38.8 per cent of the population using the national poverty line.
“By international poverty line of PPP-corrected $1.90 per capita per day, an estimated 49.2 per cent of the population lived below poverty in 2017,” World Bank said.
Chief Executive Officers (CEOs) in African private sector have expressed optimism about the future of the continent.
In a survey, which was commissioned by the Pan-African Private Sector Trade and Investment Committee (PAFTRAC), and conducted by African Business magazine in partnership with the Afreximbank, to gauge the private sector view around trade, the research highlighted the private sector’s desire for considerable reforms to make the global trade rules system fairer and more transparent.
Two hundred CEOs were surveyed around issues concerning the World Trade Organisation (WTO) and trade in general.
It was done in light of the next phase of ongoing consultations to select the institution’s next Director General. Three of the eight candidates are African: Nigeria’s Ngozi Okonjo-Iweala, Kenya’s Amina Mohamed and Egypt’s Abdel-Hamid Mamdouh.
The CEOs were also optimistic about the future outlook: over 50 per cent of the CEOs believed global trade would increase over the next 12 months; and over 70 per cent of CEOs believe intra-africa trade would increase over the next 12 months.
The survey covered a number of areas which revealed a general consensus that the current rules penalise the African continent and its private sector.
86.6 per cent of the respondents understand the role of WTO in global trade. However, majority of the CEOs believed WTO is not effective in fulfilling its role.
As much as infrastructure, logistics and human capital were cited as two major constraints to growth in Africa, the CEOs also noted the skewed international trade regime as another key constraint.
President of Afreximbank, Benedict Oramah, said: “As the pan-African trade finance bank, Afreximbank has been mandated to host PAFTRAC secretariat. Any reform needs to support a burgeoning African private sector and an increasingly integrated Africa.
“We have seen, over the past quarter of a century since WTO was formed, the emergence of a robust and dynamic African private sector, and more recently significant steps to integrate Africa under the African Continental Free Trade Agreement (AfCFTA).
“WTO and its new leadership will need to recognise the imperative of African integration and put development at the centre of any trade agenda.”
Interestingly, if the majority of CEOs believed that the global trading system was unfair, most also see the multilateral system strengthening in the coming years.
They outlined a set of reforms that should be undertaken for a fairer and more transparent trading system, including in the areas of voice and participation, tariffs and non-tariff barriers, agriculture and subsidies.
Speaking on the matter, PAFTRAC Chair, Pat Utomi, stated that unless reform was forthcoming the current global crisis may penalise the African private sector even further.
“We have seen during this pandemic companies in the industrialised world have received massive bailouts, tax incentives, not to mention government contracts and fiscal stimuli.
“Companies in Africa were not so fortunate and will have to deal with a world where trade will be depressed because of the post-covid environment. As such, a fairer global trade environment and trading system is more urgent today than ever,” he said.
The survey as well as a debate around a communiqué to be sent to all candidates who are in the race for the directorship of WTO would be presented at a webinar to be hosted by Afreximbank.
PAFTRAC unites African leaders from the private sector and provides a unique advocacy platform bringing together the African private sector and African policymakers to support extra and intra-African trade, investment and pan-African enterprise.
The platform drives pan-African results by providing a framework for private sector engagement in trade and investment issues in Africa, including policy formulation and trade negotiations to support African economies in line with the ambitions of Agenda 2063: “The Africa We Want.”
PAFTRAC enhances advocacy and supports policy actions and recommendations of the private sector on trade; and investment issues at the national, trade corridor, regional and multilateral levels.
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.
