WHAT is “restructuring” in the context of the Nigerian political discourse? In simple terms, it means removing the centralised, “federal” system put by the military political class in our constitution in 1979 and 1999. It means allowing the federating units to have more of the economic, social and political powers currently concentrated in the Centre. These powers made the Centre so powerful as to confer quasi-colonial authority on those who control the centre. Yet, it rendered the Federal Government so inefficient and indolent as to turn Nigeria into a state that does not work; a virtual failed state in spite of its humongous potentials.

NIGERIA is in dire financial straits. Nothing better typifies this than the free fall of the Naira in an import- dependent country. Between 2013 and 2014, the currency was quite stable at N160 to the dollar.

“The report of 14 Nigerian banks which were appointed by CBN as “Asset Managers” of Nigeria’s reserves was carried on back page of The Guardian Newspaper of the October 5th, 2006. Festus Odoko, the CBN’s Head of Corporate Affairs, confirmed in the report that “already deposits worth $7bn representing part of the Central Bank of Nigeria’s “share of foreign reserves” presently estimated at about $38bn had been released to the banking consortium”.

To start with, when Gowon came back to Lagos, some top federal civil servants were surprised at the scope and depth of concessions he made to Ojukwu. Consequently, they advised him, wrongly, not to implement it because, in their opinion, the agreement was “unworkable.” Given that the Aburi summit essentially affirmed the structure of governance in the first republic which worked so well before the coup of January 15 truncated it, the only reasonable explanation of their negative stance was myopic selfishness motivated by desire to preserve their exalted positions in Gowon’s government.

There are four gospels in the New Testament bible said to have been written by Matthew, Mark, Luke and John. However, these books were written anonymously, there were no names in any of the original manuscripts. As Rev. Dr. Hooykaas says: “The titles placed above them in our Bibles owe their origin to a later ecclesiastical tradition which deserves no confidence whatever.”