In last week’s article, “Dollar Reserves: Who Owns What?” we endeavoured to lift the shroud over the amorphous concept of Nigeria’s foreign reserves. Incidentally, the Senate has lately in consonance with our position, also frowned at the illegality of the component of the reserves defined as excess crude account! (See Daily Independent headline of 23/10/2009, “Sharing of $2bn Excess Crude Fund Illegal – Senate”).

TO deregulate the oil sector or not to deregulate it is an issue. When to do so is even more of an issue. The logic of deregulation is beginning to catch on, even among sections of organised Labour. The success of the liberalised telecoms sector is a very persuasive example to cite.

A friend called me early Friday to discuss the ongoing FIFA U-17 competition. He has just been told how in the attempt to disinfect a pitch, mosquito flit was sprayed on it and the grass turned brown immediately!
I could not stop laughing. He said it was not a laughing matter and asked what we were doing about it.

JUST last week, I was straining to present in a more palatable way the crass lawlessness we have exhibited in the operation of our laws. I wanted the proof of the pudding in that regard to be in the eating, more because I wanted to save face for us than that I had no facts and figures to back up the claim that we are an embarrassment to a world where the recognised method of accessing justice is through the rule of law.

NOW with the gauntlet thrown down by the accused, one would have expected the reporters and the editors of the newspapers which publish the “news” to respond and bring proof. Instead what we have had is silence. Failing to provide proof, one would also have expected them as professionals to tender apologies for what has now been exposed as a rumour carried as news. Again, none has demonstrated such decency.