Confirmed! Nigerian banks must open @weekends, says CBN, evacuates notes to ease circulation - ITREALMS

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As part of a coordinated effort to ease the circulation of banknotes of various denominations, the Central Bank of Nigeria (CBN) has confirmed the evacuation of banknotes from its vaults to commercial banks across the country, reports ITREALMS.

The CBN has also directed all commercial banks to open for operation on Saturdays and Sundays.

Finalist @Konga shoppers for Knowledge Weekend with Ekeh, Zinox boss - ITREALMS

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Konga, Nigeria’s leading composite e-commerce giant, has unveiled the final list of 12 shoppers selected for the all-expense paid Knowledge Weekend mentorship programme with the Chairman, Zinox Group, Leo Stan Ekeh.

The exclusive mentorship programme is scheduled to take place this weekend from Friday, February 10 till Sunday, February 12, 2023, with selected guests expectedly hosted to a VIP treatment at a five-star hotel in the heart of Lagos.

10 Konga shoppers confirmed for exclusive weekend mentorship with Ekeh, Zinox boss - ITREALMS

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The battle for places among customers of Konga, Nigeria’s leading composite e-commerce giant, for the all-expense paid Knowledge Weekend mentorship programme with the Chairman, Zinox Group, Leo Stan Ekeh is set to reach a climax this week, with only two slots left to fill as the ongoing Konga Jara promo ends on Tuesday, January 31, 2023.

Two additional winners – Mr. Soliu Saad who hails from Kwara State and Mrs. Amaka Michael from Enugu State – have been unveiled by the e-commerce giant, thereby taking the number of Konga shoppers confirmed for the exclusive mentorship programme to 10.

Two more Konga shoppers confirmed for all-expense paid weekend mentorship - ITREALMS

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Konga, Nigeria’s leading composite e-commerce giant, has rewarded two additional shoppers with a spot in the highly anticipated all-expense paid Knowledge Weekend mentorship programme with the Chairman, Zinox Group, Leo Stan Ekeh.

The two new winners are Mrs. Edith Omatedjor, a native of Delta State and Mr. Chris Godwin who hails from Edo State, with the number of winners now rising to eight.

Konga Jara: New winners emerge, 6 slots to go for all-expense paid weekend mentorship - ITREALMS

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Some six slots have been filled by customers of Konga out of the anticipated 12, for the much-awaited all-expense paid Knowledge Weekend programme with the Chairman, Zinox Group, Leo Stan Ekeh.

Two new winners; Mr. Adeyemi Oyewale from Osun State and Mrs. Stella Ezeonwuka who
hails from Imo State, were unveiled by the e-Commerce giant on Monday, bringing the number of winners so far to six.

First batch: Jebutu, Emmanuel emerge winners @all-expense paid weekend mentorship programme - ITREALMS

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Konga, Nigeria’s leading composite e-commerce giant, has formally unveiled the first batch of winners for its highly anticipated all-expense paid Knowledge Weekend programme with the Chairman, Zinox Group, Leo Stan Ekeh.

They are Mrs. Molayo Jebutu and Mr. Joshua Emmanuel, both of whom are frequent and loyal shoppers of Konga.

Shoppers surge for Konga Jara deals, all eyes knowledge weekend with Zinox boss - ITREALMS

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A keen battle is ongoing among customers of Konga, Nigeria’s leading composite e-commerce giant as the competition for places for the free Knowledge Weekend programme with Chairman, Zinox Group, Leo Stan Ekeh intensifies among Konga Jara shoppers.

An annual festive season sale, Konga Jara offers massive deals, mouthwatering discounts and huge savings for all categories of shoppers but with a difference this year.

12 shoppers @Konga Jara to enjoy all-expenses paid knowledge weekend with Zinox boss - ITREALMS

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Some 12 lucky shoppers are set to enjoy an all-expenses paid weekend mentorship programme with Chairman, Zinox Group, Leo Stan Ekeh as Konga, Nigeria’s leading composite e-commerce giant flags off its traditional festive season sale – Konga Jara – which offers massive deals, mouthwatering discounts and huge savings for all categories of shoppers with a difference this year.

The 12 beneficiaries will be selected randomly from customers who shopped on any of Konga’s various platforms, including online – www.konga.com and offline in any Konga retail store nationwide or via Konga Bulk, as well as those who purchase their flight tickets on Konga Travel or carry out transactions on KongaPay between December 1, 2022 and January 31, 2023, although shoppers who have a higher frequency or volume of purchases stand a better chance of being selected for the much-anticipated mentorship programme.

12 Konga Kares' apostles loading with free weekend mentorship by Zinox boss, Ekeh - ITREALMS

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A total of 12 Konga Kares' apostles would soon emerge to enjoy free weekend mentorship by the Zinox boss himself, Dr. Leo-Stan Ekeh, reports ITREALMS.

This, ITREALMS gathered is coming as part of efforts to empower budding entrepreneurs with the right business success tips and strategies to create new wealth in the 21st Century.

The Nigerian Left and Constitution - ITREALMS

WeekendCommentary@ITREALMS: 

For some time in the early part of Nigeria’s Second Republic (1979-1983), several groups in the Nigerian Left debated what the movement’s relationship with the opposition People’s Redemption Party (PRP) should be. Several Leftists had been involved in the formation of the party while several more joined after formation. But the bulk of “hard core” Leftists, particularly Marxists, remained outside the party which, today, would be described as “radical left-of-centre”: left-of-centre on account of its ideological placement and radical in its methods. Of the 19 states into which the country was then divided, PRP controlled the governments of two: Kaduna and Kano—where Kaduna included the present Katsina State and Kano included the present Jigawa. The party was modestly represented in the National Assembly.

That PRP controlled the governments of old Kaduna and Kano states and had a presence in the national seat of power in Lagos meant that the party and the governments it controlled accepted the Constitution of the Federal Republic of Nigeria, 1979. They operated that Constitution and were bound by it. This legal relationship with the Constitution was one of the greatest subjective and ideological obstacles to the formal entry of several Leftists into the PRP. And this was the setting for a respected veteran Leftist to charge, in a closed meeting, and then in an international Marxist journal, that those Leftists who refused to join the PRP on account of the latter operating the Nigerian Constitution were ignorant and lazy arm-chair revolutionaries.

More directly and substantively, the comrade declared that the Constitution of the Federal Republic of Nigeria, 1979, was sufficient for the Nigerian Left to make a revolution if it was actually interested in making a revolution! The “gates of hell” broke open after this charge. Comrades did not go to blows only because there would be no one to separate the fight. Besides, if fighting had broken out and the police had come in there would have been sufficient evidence to charge the two sides with any offence – ranging from “rioting” to “treasonable felony”. That was more than 35 years ago.

This near-violent debate over the possibility of using the Nigerian Constitution to make a revolution, in the particular way the question presented itself in 1980 or 1981, has since been resolved by history and transcended ideological and politically by the Nigerian Left. But the general question of the relationship of the Left to the fundamental law of the Nigerian State remains. So, what is this fundamental law, this constitution? How does the Left see it? How should the Left see it? Should the changing of the Constitution—including “popular-democratic restructuring”—be one of the current key demands of the Left or one of the key elements of the People’s Manifesto? If the Left comes to power today—alone or in a coalition—will changing the Constitution be one of its immediate priorities?

Let me quickly dispose of the last question. As important as a radical review of the Constitution may appear, it cannot be one of the first acts of a Left government on coming to power. Radical and massive redeployment and redistribution of the nation’s resources in favour of the working, toiling, poor and de-classed masses and lifting of layers of burden from their shoulders will be the first symbolic and substantive acts. And these will be carried out not by initiating a constitution-review process—a long process—but by stretching to the limit the provisions of the present Constitution. No law will be broken, no court order will be disobeyed. Only two defensive steps will be taken: placing the revolutionary measures directly before the people and summoning people’s lawyers across the land. Constitution-review will be carried out later: not much later, but later.

Now to the other questions. The Constitution, in the sense we use it here, is the fundamental law or body of laws instituted by a state or adopted by a state to rule over a defined territory. Logically, the Constitution starts by defining the state whose instrument of rule it is. It then defines the People covered by the authority of that state and the operation of the Constitution. Somewhere in the introductory segments of the Constitution a claim is made—in one form or another—that the Constitution is an embodiment of the will of the people.

This claim is neither completely false nor completely true. Rather, it is ideological. For the people must have been involved—in one form or another, in one marginal or superficial way or another, at one level of deception or another—in the production of that document. But the Constitution is, in essence, the will of the state. And the state is, in essence, the will of the ruling classes.

The Constitution makes the claim of “universal” representation because the state uses it to rule over the entire territory and the whole people—and not a fraction of the territory or the ruling class alone. And because the Constitution makes such a claim it is compelled, regardless of the process of its coming into being and without mitigating its essence, to agree to some concessions to the people in content and in form (including the use of language). A ruling class or a state which refuses to make concessions and compromises is reducing the roads to change to only one: revolution. No state, no ruling class wishes to be permanently in a state of siege or turmoil. And the means of preventing this—as long as possible—is through concessions and compromises, including constitutional reforms. These concessions and compromises, as minor as they may appear when they are snatched from the ruling class, may be called into a decisive role at a future critical moment.

A Constitution which is a bundle of lies, and nothing else, will lack all credibility and will be useless to the ruling class and the state. It is these compromises and concessions that the 1980 “Leftist protagonists” of the 1979 Constitution insisted could be used and should be used to advance the popular struggle. What they did not say or did not say convincingly or were not allowed to say was that this use of the Constitution would not exhaust the forms of struggle or be the highest form of struggle in the revolutionary arsenal of the Nigerian Left.

What the “Leftist protagonists” of the 1979 Constitution were therefore saying can now be appreciated through the prism of 2018 and set out in a series of connected propositions: One: Although historically, the reform struggle, including the struggle for a more democratic constitution, has been an integral part of the revolutionary struggle in Nigeria, the latter cannot and should not be reduced to the former. In other words, the agenda of the Nigerian Left is much wider and deeper than the reform struggle, including the struggle for a new constitution. Two: The limited democratic provisions in the Constitution could be used to wage both electoral struggle and general popular-democratic struggle in a manner that the ruling class and the state had not envisaged.

Three: Exposing the limitations of the Constitution is a revolutionary struggle which, in certain conjunctures can be more effectively waged in actual popular-democratic engagements—including elections and, when possible, actual governance. Four: In participating in electoral and governance politics where the Left is not in power—even if it is marginally in office—participating Leftists should seek, obtain and retain organized revolutionary backing.

*Contributed by Edwin Madunagu, mathematician and journalist, writes from Calabar, Cross River State, Nigeria.

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Adeosun advocates inclusive growth @ G20 in Paris

ITRealms:

Nigeria’s Finance Minister Kemi Adeosun  has called for sustainable and inclusive growth for Africa at a high level G20 Finance Ministers seminar held in Paris at the weekend, reports ITRealms.

The Finance Ministers, ITRealms reports, met to discuss current challenges to the international financial architecture and ways of combating macroeconomic volatility.

The high-level seminar also assessed volatility in capital flows and their impact on global economic conditions.

Speaking at the opening plenary session alongside Christine Lagarde, Managing Director of the IMF, François Villeroy de Galhau, Governor of the Banque de France, Valdis Dombrovkis, Vice President of the European Commission and Wolfgang Schauble, Minister of Finance, Germany, Minister Adeosun acknowledged the progress that has been made in the international financial architecture since the 2008 global financial crisis.

She noted that the first line of defence is sound macroeconomic policies, which Africa in general and Nigeria specifically, is trying to tackle with a series of fiscal housekeeping initiatives.

The Minister said that there had been excessive focus on GDP as a measure of economic progress, which often concealed vulnerabilities, particularly inequalities. She called for a more holistic measure of economic growth.

She highlighted the risks associated with international capital flows and warned that African economies need to be insulated from the disruptive effects of volatile short term portfolio flows.

Africa can build the necessary resilience, she said, but there must be more careful management of capital flows and a move towards long term and sustainable growth.

Minister Adeosun said that an essential component of more careful management of capital flows was to build better economic mapping and surveillance to manage risks and spill-overs, which she said should be a priority for G20 Finance Ministers.

Adeosun called for more understanding and flexibility for Africa to grow and protect key markets, as developed countries had done while at Africa’s current stage of development.

She highlighted the need for long term partnerships and foreign direct investment into African economies to deliver the necessary investment, particularly in infrastructure, to unlock sustainable growth.

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