We appreciate the intense emotions and debate sparked by the aforementioned study conducted by CMC Connect LLP (Perception Consulting), especially given the challenges Nigerians are currently facing.

Our decision to conduct the survey was motivated by a desire to deepen our democracy through public feedback that can assist the government feel the pulse of the people.

The report includes numerous perspectives for constructively engaging the present government, and we encourage everyone to read it beyond the sensational headlines. Also, there is a significant variance dependent on crucial research criteria such as demography, sample size, and time.

With over 30 years of proven experience as a leading Perception Consulting firm in Nigeria, our track record is driven by integrity and commitment to excellence.

We are happy to share our methodology to demonstrate that we followed global professional standards in conducting surveys of this type and assure the public that it is free of influence from any source, including funding of the exercise, which was entirely undertaken by our firm as part of our corporate social responsibility.

We have just evaluated the data we received from the field, and we will like to encourage more Nigerians to participate in similar surveys on a regular basis to help promote good governance, and advance our democracy, economy, and ultimately, the nation.

Rashidat Okunlade Writes

On 27 July, the panel discussion ‘International Cooperation in Financial Security’ was part of the business programme of the Russia–Africa Economic and Humanitarian Forum as part of the ‘New Global Economy’ track.

The session will be moderated by Nikolay Zhuravlev, Deputy Chairman of the Federation Council of the Federal Assembly of the Russian Federation. The following participants are expected to join the discussion: German Neglyad, State Secretary – Deputy Director, Federal Financial Monitoring Service; Ilya Yasinskiy, Director of Financial Monitoring and Currency Control Department, Bank of Russia; Alexey Lyzhenkov, Deputy Director of the Department for New Challenges and Threats, Ministry of Foreign Affairs of the Russian Federation; Ahmed Said Hussein Khalil, Chairman, Egyptian Money Laundering and Terrorist Financing Combating Unit; and Dubale Mukuken Yirga, Head of Legal Division, Eastern and Southern Africa Anti-Money Laundering Group, etc.

In today’s world, the fight against financial crime is complicated by the fact that the theft of funds takes place in the absence of physical contact, and the interaction between the perpetrator and the potential victim takes place in virtual space or through the use of communications. Financial technology, which is experiencing explosive growth, allows literally dozens of cross-border transfers to be made around the world in a matter of seconds. These convenient information and financial technologies are actively used by fraudsters, drug traffickers, terrorists, corrupt officials, human and arms traffickers, and other criminals. Investigating their crimes and unraveling their ‘financial traces’ is impossible without cooperation between the competent government authorities of different countries whose jurisdictions are affected by these crimes. The panelists will answer the following questions: what is needed to strengthen bilateral and multilateral cooperation in the area of financial security, anti-money laundering, and countering the financing of terrorism, and what needs to be done to effectively carry out preventive work, including with young people, to explain how these offences (fraud is among them) are committed?

“In the context of the COVID-19 pandemic, significant segments of the economy and, consequently, financial activity of citizens have gone online. The sector of shadow web markets has expanded, the number of duplicate websites disguised as original ones is growing, the number of cases of funds embezzlement from bank cards and e-mail spamming for this purpose is increasing, and the use of cryptocurrencies by terrorist groups as one of the safest ways of self-financing is gaining momentum. Countering the financing of terrorism is one of the key areas on the agenda of international antiterrorist cooperation,” said Alexey Lyzhenkov, Deputy Director of the Department for New Challenges and Threats, Ministry of Foreign Affairs of the Russian Federation.

The panel discussion is scheduled for 14:00 in conference hall G1 (pavilion G).

The Roscongress Foundation is the organizer of the Second Russia–Africa Summit and Economic and Humanitarian Forum.

Official website: summitafrica.ru 

By Otega Ogra

Change is never easy. It is often met with resistance, fear, and uncertainty. But it is through change that progress is made. The recent quick-fix economic reforms initiated by President Bola Tinubu’s administration, including the removal of fuel subsidies and the consolidation of multiple foreign exchange regimes, are a testament to this truth.

These reforms, though challenging in the short term, hold the promise of a more prosperous and stable Nigeria. They represent a bold step towards economic self-sufficiency, a move away from unsustainable subsidies, and a commitment to a more transparent and efficient foreign exchange market. But President Tinubu understands that these changes, while necessary, will have an immediate impact on the Nigerian economy.

Otega Ogra.

That’s why his administration has put in place a series of measures to cushion these effects and ensure that no Nigerian is left behind. From the establishment of the Infrastructure Support Fund (ISF) to the planned distribution of grains and fertilizers to 50 million Nigerians starting this week in collaboration with the states, from the activation of land banks to the creation of a National Commodity Board to the various taxes suspended or deferred to help Nigerians, and the half a billion dollars mobilized at the Food conference in Rome yesterday, these measures are designed to provide immediate relief and pave the way for long-term prosperity.

These are not mere palliatives; they are strategic investments in our future. They are a testament to President Tinubu’s commitment to creating a Nigeria that is not only self-sufficient but also prosperous and resilient.

So, as we navigate these challenging times, let us remember that we are not alone. We have a leader who is not only aware of our struggles but is also committed to ensuring our prosperity. President Tinubu is confident in the resilience of the Nigerian People and the strength of the Nation’s economy. Let us embrace these changes, not with fear, but with hope and confidence in the promise of a brighter future. There is light at the end of the tunnel, and with these reforms, Nigeria is taking a bold step toward that light.