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OPINION: Nigerian Leaders As CBEX Ponzi Chancers
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By Festus Adedayo
On Page 28 of his very provocative book, The Present Darkness: A history of Nigerian organized crime, (2016), Stephen Ellis, British historian and Africanist, compared Nigerian politics to con artistry. Their practices, he said, were not different from acts of fabulists and fraudsters. Ellis’ take on Nigerian leaders synchronises with Henry Louis Gate’s The New Yorker piece of September 25, 1995. With the title, “Powell and the Black Elite,” the piece quoted ex-American Secretary of State, Colin Powell, as saying, “Nigerians as a group, frankly, are marvellous scammers… I mean, it is in their natural culture.”
As it is done in scholarship, traditional Africa also gives justification for the Ellis comparison. It says, when the shape and size of a peanut’s shell bears striking semblance to the coffin of a species of mouse called Eliri, then a justification is successfully established. Last week, there was an eruption of weeping, wailing and gnashing of teeth in many homes. Investors in the digital financial platform called CBEX met their financial waterloo. CBEX ultimately unraveled as a Ponzi scheme, with about 600,000 Nigerian victims in tow. It has given critical minds an opportunity to examine whether there is a meeting of minds between Ponzi chancers and Nigerian political leaders. Why do we dwell so much on Nigerian economic scams and scammers, while we sacralise the equally cancerous virus of political scammers?
The genealogy of this crave for quick wealth dates back in time. In 1925, J. K. Magregor, headmaster of Scottish-Presbyterian-founded, Hope Waddell Institute, of which the great Nnamdi Azikiwe was an alumnus, had written the Nigerian governor-general. His complaints were based on a motif of pupils of the school writing incredibly suspicious letters to unknown persons abroad. In the letter, the pupils asked to be sold medicines of esoteric teachings which guaranteed success and happiness. They turned out to be quack. In a single mail delivery, said Ellis, Magregor discovered 125 of such scam letters. One laughable example was a 12-year old pupil who had purchased through post from India a “Mystic Charm” with an instruction to him to send more money so that he could be sent “blessings from the Hindu deity Siddheswari”. The letter also told the boy that the sign he would get to confirm the efficacy of the deity was “by watching the flow of his nasal mucus”!
Our visible connect to this pre-colonial crave for mysticism was re-enacted during the First Republic Nigeria. During this period, secret societies played pivotal roles in governance. The barbarism and primitivism of killing people for sacrifice in order to gain ascendancy in political circles became rife. The Ogboni cult held a supremacist place in Western Nigerian politics. It was only the northern part of Nigeria that was saved the barbarity. By the end of the Third Republic, however, military despots like Sani Abacha had reportedly began to seek spiritual interventions of Muslim brotherhoods of Senegal for a mystic buy-in into their infernal rule. Cows were reportedly buried alive in all outposts of Abuja, the Federal Capital Territory by the goggled General. By the Fourth Republic, politicians had fully imported into Nigeria this Islamic mysticism which was spreading in sub-Saharan Africa. The marabouts were Islamic priests who combined Islam with the syncretic practice of local healers, fortune tellers, spiritual guides and diviners. Today, virtually all Nigerian politicians, like that 12-year Hope Waddell old boy, still seek mysticism, either from Islamic mullah, clergies, Babalawo or Senegalese marabouts to guarantee their political happiness and success.
Economic chancing of the CBEX kind is not purely native to Nigeria. In August 1920, after months of covert investigations by Clarence Barron, Boston Post newspaper’s top financial journalist, of the activities of Charles Ponzi, burst his bubble. Barron had found out that Ponzi, an Italian, born 1882, who immigrated to the United States in 1903, was a notorious con artist. In January 1920, Ponzi had established a “Securities Exchange Company” where he promised investors returns of up to 50% in 45 days. The scheme attracted thousands of local investors who, mimicking early Christians of Jerusalem’s mode of spread of the religion, engaged in a mouth-to-mouth spread of the “good news”. Gradually, they escalated its rapid growth and staggering participation. At the height of the scheme, Ponzi collected not less than $250,000 a day from unsuspecting victims, quadrupling his wealth to over $15million. Immediately after Barron’s investigation leaked, Bostonians rushed to and camped outside Ponzi’s offices. They were panicky crowds of local investors demanding a return of their money. Last week, same scenario was reenacted as angry and exasperated Nigerian victims of CBEX stormed its Nigerian offices.
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Ponzi and CBEX’s gambits were not dissimilar. They were predicated on paying existing investors funds that were collected from new investors. As the Ponzi scheme left thousands of investors devastated, having lost their life savings, its traits ultimately became known globally as the ‘Ponzi scheme’. After Ponzi’s infamy, the fraud ring mutated severally all over the world. Like in Bernard Madoff. For 17 years, Madoff duped investors of billions of dollars. He eventually got sentenced to 150 years. Nigeria also had the MMM. Launched in 2016, this infamous financial scheme attracted huge investment traffic, such that when it froze its transactions, it left thousands of investors crushed and heartbroken. CBEX is said to have ripped off Nigerians of over a trillion Naira.
The divide separating economic, political and leadership Ponzi in Nigeria is very thin. It is welded together by the glue of voodoo, talisman, juju and marabout. I learnt that victims of CBEX gave testimonies in churches before their waterloo, with some pastors telling congregants that the chancers had brought a new wave of God’s blessings. While greed and straitened economic times resulting in citizens seeking desperate escape have been attributed to the flourishing and successes of these scams, Prof Ellis established a corollary between Ponzi chancers of pre and post-colonial Nigeria and emergent political and military rulers. He then situated Nigeria as one huge forest of a fraud ring: “Most Nigerian practices of organized crime, including document fraud, embezzlement and large-scale smuggling, originate in politics and the state itself, or at least have important and durable connections to the state.”
As Ponzi scammers feed fat on the red blood corpuscles of trickery and deceit, so do Nigerian leaders and politicians. Ellis insinuates that scam can be found in the bloodstream of Nigerian politics and political leadership since they first began in the 1940s. If you break Ponzi to its most basic moral component, it is driven by unrighteousness, desire to outwit the other person, gain personal advantage and in most cases, leave sorrow as mementos. Nigerian politics and leadership are founded on same nefarious aspiration.
Only last week, the United States District Court for the District of Columbia ordered top US law enforcement agencies to release confidential information generated during a 1990s federal investigation. One Mr. Greenspan had, between 2022 and 2023, filed 12 FOIA requests seeking information about a joint investigation of the FBI, IRS, DEA, and the US Attorney’s Offices for the Northern District of Indiana and Northern District of Illinois. He wanted the charging decisions on the activities, including money laundering, of a Chicago heroin ring that operated in the early 1990s made open. The Nigerian president is said to be located at the vortex of this investigation.
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While reacting to the American court ruling, the Nigerian presidential media office dismissed it as “having been in the public space for more than 30 years,” and did not in any way “indict the Nigerian leader” while concluding that “lawyers are examining the ruling.” My people say, if someone does not move in gaits that resemble an African pouched rat’s, no one would ask them to eat a meal of palm-nut seeds that is the culinary preference of this species of rats. (Bi eeyan ko bá rìn ìrìn awasa, wón o ní fi ekurọ lọ). The fact that the president’s name is enmeshed in such shame is already a national disaster. I don’t know of any scam bigger than a presidential Ponzi of paying millions of dollars to American lawyers so as to keep blocking American courts from disclosing to Nigerians and the world the truth or lie in the allegation that our president was involved in a heroin trade in the 1990s.
Ellis provided a nexus, no matter how tenuous, to the Ponzi. As far back as 1952, he wrote, Nigeria had become a staging point for heroin drug trade. According to him, the country was “a heavy dope traffic” from the near East to the USA via Europe, with one of those implicated at the Nigerian end of this pipeline being “one O. Chagoury.” Ellis’ conclusion on this pre-independence Nigerian drug trade gives the reader of the book today the latitude to connect its frightening nexus. He had written: “A few decades later, a Lebanese family with the same name had become very influential in both business and in political finance: Gilbert Chagoury, born in 1946…He was very close to the military dictator of the 1990s, Sani Abacha…It seems he is a descendant of a heroin trader who arrived Nigeria in 1952…the heroin trade may provide start-up capital for other forms of business…” You may find this on Page 92 of Ellis’ book.
While we lament the Ponzi scam of CIBEX, I put it to us that we are merely being hypocritical. Ponzi, MMM, CBEX, either figuratively or literally, have always constituted our ways of life. In our individual, collective and national relations, our modus operandi has never been dissimilar from these scammers’. We take delight in sucking the nectar of the joy of our fellow man. We elect known scammers into political offices and when they scam us, we complain. We are like the farmer who knew that the land he planted peanuts on was squirrel-infested. At the time of harvest, this same farmer became grumpy because squirrels had eaten up all his farm proceeds. When a man tells his people he was going on a two-weeks “working vacation,” which we all knew was a euphemism for a date with his Chagoury business partners or a date at the infirmary, didn’t both the man who spun the yarn and we, the people who received it, know we were mutually involved in a CBEX transaction? Or, didn’t we know that the spinner of the lie wasn’t dealing with us straight? Our forebears sounded alarm on characters like this in their saying that, when you meander round truth and refuse to walk straight, you are most likely encumbered by issues of finance (Sàn làá rìn, ajé ní mú ní pẹ kọ̀rọ̀)
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Our scam began from the very beginning when Nigerians brought in a presidential baggage they didn’t have access to its constitution. Last week, the White House released President Donald Trump’s annual health report. Nigerians are left to make guesswork on what ails theirs and the billions of their patrimony spent to maintain it. Our president’s health is run like a coven, which reminds one of the miasma that surrounded the health of monarchs of pre-modern Africa. The king must not be seen to have taken ill like a commoner. It is a sacrilege. What Ponzi is greater than this, full of its opacity!
Replying to criticisms that, after almost 200 Nigerians had been killed in the president’s absence, he is still oscillating like a spirit from France to London, his media office told us he could rule Nigeria through remote control from anywhere in the world. Nigerians instantly remembered they had walked that punishing road before. At Easter, the statement purportedly issued by the president was that, “evil forces will not triumph in Nigeria” at a time when Evil had been crowned as King. What evil is greater than the carnage ongoing in Plateau and Benue states which, as usual, was dressed beautifully in a refrain, “the president has ordered decisive action”. Both of us, the president and Nigerians at large, know that this statement is a complete scam. There is no action coming from anywhere, not to talk of its being decisive. When the killers strike again soon, the presidency will recalibrate the commiseration refrain. Charles Ponzi must be happy he has identical offspring in the Nigerian presidency.
In Nigeria, we live in a world of deception which the Yoruba call “Ìlú ẹtan”. It is an antonym for the kind of trade that catapulted Charles Ponzi into global infamy. Claude Ake, in his, Is Africa Democratizing (1996) slammed our brand of politics as one “that does not know legitimacy or legality, only expediency.” If you listened to Nyesom Wike’s media chat on Friday, you will see hope receding for a Nigeria of our dreams. You will see crude audacity and man God-ifying himself. It affirms the Ake expediency as the credo of Nigerian politics, in agreement with Ellis that Nigeria is one huge river of Ponzi traders. If it wasn’t CBEX on parade, why would a man gloat as his own party is bleeding?
Wherever you turn, Nigeria is a an ocean where sharks feast on sharks and lesser fishes devour one another. Atiku Abubakar and his co-travellers on a coalition have started spinning their own political Ponzi, which they know its end is not basically for the Nigerian people. Peter Obi is busy with his own Ponzi as well. Muhammadu Buhari, who regressed Nigeria colossally in eight years as president is the one to decide Nigeria’s political future now because he is patrons to millions of Almajiri voters who know not their right from left. As the week was ending, Reno Omokri, the Peter Obi-hating political Smart Alec, spun another of his serial Tinubu intervention Ponzi yarns. “Nigeria is safer now under Tinubu”, he said. If any of Omokri’s family members was among the almost 200 victims of Nigerian Ponzi rulers, killed in Benue and Plateau states in the last two weeks, a period when Nigeria had, not even a scare-crow placeholder for president in Aso Rock, will the “Ambassador” spew this undiplomatic puke?
What is glaring is, by the time this current CBEX government in Aso Rock finishes with us, we will have a long roll-call of victims.
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By Suyi Ayodele
When a man says, ‘Here is where my friend was disgraced yesterday,’ our elders ask us to remind him that the disgrace has become a communal one. No sensible man derives joy from the shameful conduct of his kinsman. Does that philosophy still hold water in Yorubaland today?
A big Yoruba king was jailed in the faraway United States of America last week. He was arraigned, tried and found guilty of blood profiteering. The Apetu of Ipetumodu, Osun State, Oba Joseph Oloyede, was sentenced to four-and-a-half-year imprisonment by Justice Christopher Boyko of the North District of Ohio, US, for stealing COVID-19 relief funds running into millions of dollars.
Oba Oloyede was portrayed as a blood-sucking demon who took delight in the blood of the victims of the pandemic, COVID-19. He stole $4.2 million meant for the relief programme for the victims. In addition to the jail term, the monarch will also refund the sum of $4,408,543.38 to the US Government.
He will add his home on Foote Road, Medina, Ohio, to the restitution. Oba Oloyede’s bank account with a balance of $96,006.89 will be taken over by the government. The troubled monarch is not entitled to a Cent of the money in the account. The court said the money therein was the proceeds of fraud! That is not the end of his troubles.
When eventually released, the jailed Ipetumodu monarch will be on the watch-list for three good years. The devil helps him if he misbehaves during his suspended release. He goes back to jail, summarily!
The saddest aspect of the tragedy is that while the trial lasted, Oba Oloyede did not put up any defence, no alibi. He admitted committing the crime. When the charges were read to him, Oba Oloyede simply pleaded guilty to the crimes he committed between April 2020 and February 2022. Kabiyesi was arrested on May 4, 2024, when he travelled to the US. He was sentenced on August 26, 2025!
This is a sad development for the entire Yoruba Race. It is a sad development that we would not want to tell our children. But not the Yoruba of our time. If we were to be the true products of the Omoluabi ethos handed over to us by our forebears, Yorubaland would have been in mourning over the Apetumodu shameful outing in the US. But what do we have now?
Instead of showing remorse, the elders and elites of the land are busy exchanging words over inanities. Hot exchanges are being traded over unimportant matters. Words that, like the proverbial egg which breaks when thrown on the floor, have been uttered. When the storm calms, the scars will be visible for us to see. Outsiders alike will also see the relics of this current useless war over a non-issue. We left leprosy to treat ringworms!
We are in ruins in this land. The entire Yoruba race is dancing naked in the market square. Those who have no ancestry have come to the open to deride a race that is acknowledged worldwide as the most civilised and most cosmopolitan. The entire Kaaro Oojire is in shambles, dressed in garments of shame because our monarchs are behaving badly!
I sighed in sadness after reading the Apetumodu’s ordeals, I tried to reflect on how Yorubaland arrived at this turning point. Whom did we offend? Has what happened to the children of Oduduwa had anything to do with the curse placed on the race by Alaafin Aole Arogangan? Why are most Yoruba thrones occupied by the dregs of humanity nowadays? Why do we have charlatans and other undesirable elements occupying Yoruba palaces? At the point of my confusion, history beckoned. Yoruba thrones and nitwits, history says, predates this era. How?
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Years ago, when the ant could carry the tortoise on its head, a rich man died. Though the man had two sons, he bequeathed his estate to the extended family members. He left nothing for his sons! Nobody knew why he did that. But the two boys were not stupid. They knew where their father kept his most valuable possession, a giant box of precious stones. The boys, at the cover of the night, stole the box. When the time came for the family to share the rich man’s estate, the box was discovered missing.
From time to time, the boys were selling the gold and other precious stones in the box. They had a mutual understanding until one day, the older boy got greedy. He wondered why his younger one would share the proceeds of their heist with him equally. He decided to have the entire stuff to himself. The older brother stole the remaining items and told his younger one that they had been robbed of them.
Stealing the king’s flute is not the problem; where to blow it is the issue. The younger brother, suspecting that his older brother was up to something, decided to keep him under close monitoring. With no moment of respite, the older brother used the only available opportunity he had to be alone and carried the box to the palace for their king to keep for him.
Our elders say the third generation of greed will be a burglar (ipele keta okanjuwa, ile lo unko). The king saw the gold and decided to keep it to himself. He called his sorcerer and got the deadliest poison from him. He planned to kill the one who asked him to keep the precious stones. While at it, an incident occurred that required the attention of the king’s diviner.
The diviner, Àsèsèdà Ifá (The one who is new at divination), cast his Opele. But rather than address the issue that brought him to the palace, he told the king that he (the king) was about to do something that would bring eternal shame to him and the throne. He asked the king not to mix gold with poison because the hereafter would spell doom for the king’s lineage. The Oracle, Àsèsèdà Ifá said, directed that the king should return what was kept in his custody to the owner.
Àsèsèdà Ifá was still on the divination mat when a commotion was heard within the palace precincts. Who had the audacity to fight before Kabiyesi? The parties were brought before the king, and lo, they were the two brothers. The younger one, who suspected that the older brother wanted to cheat him, resorted to violence. When the combatants became inseparable, their family members dragged them before the king.
The king asked what the matter was. The two brothers reported how they stole the box containing their father’s precious stones and how they sold some of the items, and the remaining items went missing. Everyone present was shocked that the boys could steal what their father gave to the entire extended family. But the king had a better understanding of what happened.
The king sent for the box he kept in his room. When brought, he removed the poison on top and emptied the contents on the floor. There were the missing pieces of gold. The king went ahead to share the items between the two brothers and ordered that all the other property the family had taken over be returned to the boys.
Diviners of old who narrated this story said it is from Ifa Corpus (Odu Ifa) known as Ogunda Ofun, named after the king (Ogunda), who wanted to appropriate what Ofun (name of the older brother) kept in his care. To date, in Yorubaland, one of the divinations done for a would-be oba is Ogunda Ofun with the admonition that he, the would-be oba, must never covet that which belongs to another man- Ogunda Ofun, ogbe mohun folohun (Ogunda Ofun, let the king return that which belongs to another to the owner). Did the Ipetumodu people take Oba Oloyede through this Ifa divination?
Yet another story to buttress that Yoruba thrones have been under siege for a long time.
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A group of alájàpá (itinerant traders) market women set out early in the morning. The destination was Ibadan, Gbagi Market to be precise. They were cramped at the back of the Bedford vehicle, sitting on the wooden benches that were rammed to the floor, and holding on to the wooden body of the vehicle for stability.
Their monies were tied around their waists inside their yèrì and òpóò (long cloth purses). Those purses would not be untied until they got to Gbagi Market, where they would buy the wares they traded in.
The Bedford vehicle, on top speed, suddenly ran into a pothole. The passengers were thrown at one another, knocking heads. The vehicle came to a sudden halt. The driver cursed! He was familiar with the road. It had no pothole on that spot. He could swear to that; the driver knew where the potholes were. And those were not as deep as the one that halted the vehicle.
His instincts instantly came alive. Danger! This must be the handiwork of some adigunjalè (armed robbers), he muttered to himself. But nobody emerged from the bush to attack them. Shocked! What could have happened then? He asked no one in particular.
A woman asked what happened. The driver remained silent. He manoeuvred the vehicle out of the pothole. He dared not check if he had lost a tyre. Experience taught him never to do that on that spot. Yes, he must move a distance before he can check the state of the vehicle. Then he remembered. The pothole could have been dug to slow the vehicle down. “Òràn dé” (danger looms), he whispered loudly. The tension in the vehicle became intense.
He steadied the vehicle back on the road. Moved a distance, engaged the gear for acceleration. His headlamp picked up the objects ahead. Logs of wood, they were. Someone had barricaded the road. Nobody needed anyone to say who did that. Armed robbers were at work!
The driver applied the brake and jumped off before the vehicle came to a complete halt. His motor boy did the same. The duo dashed into the bush. Only the women were trapped. It was a case of olórí d’orí è mú (everyone for himself).
Running was useless for the women. Before the first of them could jump out of the vehicle, the armed robbers were already on them. They were ordered out of the vehicle. One after the other, their attackers dispossessed them of their money. Then the unthinkable happened.
One of the women recognised a figure among the armed robbers. She could not be mistaken. It was a figure she would identify among a million men! Sure of her vision, the woman saluted: “Alayé (owner of the world), Kábíyèsí (he who no one can question) Àdìmúlà” (the one you hold to survive).
Two other women turned to look at the man. They recognised him to be the Kábíyèsí (king) of one of the biggest towns in that axis. Ah! What was Orí Adé (the head that wears the crown) doing among armed robbers? They wondered as they made to pay obeisance as tradition demands. What they got shocked them.
Kábíyèsí raised his cutlass and dealt the first matchet blow on the head of the first woman who identified him. A chilling cry, and she went down. Alayé moved to hit the next woman. She ducked, but not before she got a bow to her arm. The other women took to flight. The party scattered. Àdìmúlà and his gang also took off. They did not forget their loot, anyway!
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The next vehicle carrying another set of traders came to the scene. The driver and the passengers began a rescue operation. The first woman was stone dead. They simply packed her corpse by the roadside; attention focused on the wounded but living. Those who ran away were attracted by the accompanying wailing and came out of hiding.
The day broke with the news of the armed robbery incident. The two women who identified kábíyèsí could only tell their husbands. They were sternly cautioned not to tell any other person. Their husbands then volunteered the information to the elders of the town, who, in turn, also maintained the oath of secrecy.
Later in the day, Kábíyèsí summoned a meeting of his chiefs. He called neighbouring kings too. A company of the esoteric was dispatched to the robbery incident to go and do what tradition stipulates. Curses were laid, and the gods of the land were asked to avenge the sacrilege instantly. Then everyone went home. Did the curses work?
Yes, they did. Days later, it was discovered that all the trees around the spot withered; they all shed their leaves in the rainy season! What happened? It was gathered that after the esoteric team had performed their rites and left, Kábíyèsí led another team of traditional experts to the spot. Being the king, nobody could question him for the second traditional journey. He was not just Kábíyèsí for fun.
According to the story, on the second trip, kábíyèsí asked that a pig (elédè) be sacrificed. He alone did the ìwúre (royal pronouncement) on that occasion. He simply told the party that he wanted to commune with his ancestors in silence. They responded: Kábíyèsí! Nobody heard what he said. They only noticed that his lips moved. The pig was slaughtered, its blood sprinkled on both sides of the road, and the party headed home. End of ritual! The result was the withering of the trees.
Any adult from Ayebode Ekiti up to the then Arigidi Ekiti (now Ayedogbon Ekiti) in the mid-70s would remember this ugly incident. The Ekiti-ethno-music icon, the late Elemure Ogunyemi, later in one of his albums, alluded to the incident when he sang: Ha ti m’òrí elédè rúbo (we have sacrificed the head of a pig)/ùgbàyí á dèrò kooko (this season will be peaceful).
But that incident did not go without repercussions for the erring Kábíyèsí. Conscious of the shame that an open reprimand would bring to the town, the elders came together and confronted their king. Of course, when in ìgbàlè (traditional coven) with the elders, Àdìmúlà owned up to the crime.
The elders did what they needed to do and sealed it with a traditional pronouncement. No blood descendant of the kábíyèsí would ever ascend the throne again! They sealed that with Olugbohun. Whoever attempted it would pay with his entire sires. Kábíyèsí was asked to pass the message to his children for onward transmission to the generations to come. He also paid a heavy fine couched as etutu (appeasement items).
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Àdìmúlà thereafter lived and died at an old age. His remaining days on the throne witnessed a lot of crises, though. Other members of his gang died miserable deaths. Another kábíyèsí is on the throne in that town. The people await whether that secret seal will be broken! This story was told in hushed tones, as I tell you today!
Before the above ugly incident, another Yoruba king was once executed for murder. The king was hanged in 1949. He was said to have used a 15-month-old baby girl, Adediwura, for rituals.
The trial of the oba was a huge sensation. The advocacy in the court was the best anyone could imagine. But that could not save him and his accomplices. The trio were executed by hanging. What did the people, his subjects, do to the family of the executed king? Would they ever allow any of his offspring to ascend the throne of the rocky town? But more importantly, what was the Ifa prediction before the oba was enthroned?
This is where we are missing it in Yorubaland. A lot of misfits are today wearing crowns in the land because they were chosen by other external forces apart from Ifa. The modern-day civilisation has robbed us of our heritage. No would-be oba who spent an average of three weeks in Ipebi (seclusion) would misbehave on the throne.
But that is no more. A would-be oba was once asked to go into seclusion for seven days. He got to the door of Ipebi and put one of his legs inside seven times. He told the people that each step into the Ipebi represented a day. Guess what? He was still crowned king. It happened because the influential members of the community were behind him; he was their candidate! With good money and connections in high places, anyone can become an oba today. Ifa, Yoruba religion, has been shifted and shoved to the background.
Today’s Yoruba foremost kings are at loggerheads. Others are queuing behind them, forming camps. While the fire rages, the farmlands their ancestors left for them are in ruins. The subjects Edumare put under their care are daily killed, kidnapped, maimed and rendered homeless! Obas are going to jail, some fight in public, and many are facing trial for rape and other misdemeanours.
The Daily Mail of UK on May 19, 2024, ran a story about another king who was “twice deported from America with a lengthy criminal record and a distinct murky past. The paper described the oba as “a conman”, stating that he tried to “cash stolen £247k cheque.” Interestingly, the king has not contested the report as he pontificates on virtually every issue of Yoruba ancestry! The circle of shame has gone round!
Ascending the thrones of Oduduwa is no child’s play. It comes with responsibilities; it comes with self-worth and dignity. If we cannot question these kings’ misbehaving because they are kábíyèsí, they should know that Alálé (progenitors) will ask them; Èsìdá (owners of the land) will judge them on our behalf. Enough should be enough. Our Yoruba obas should allow us to walk the streets with our heads raised. Ìtìjú yi ti ún pò jù (This shame is becoming too much)!

Swiss food giant, Nestle, on Monday dismissed Laurent Freixe as chief executive with immediate effect over an “undisclosed romantic relationship with a direct subordinate.”
The multinational behind Nespresso coffee capsules and KitKat chocolate bars said Freixe’s dismissal followed an investigation.
In a swift move, Nespresso CEO, Philipp Navratil, was appointed to take over by his fellow board members.
“The departure of Laurent Freixe follows an investigation into an undisclosed romantic relationship with a direct subordinate which breached Nestle’s code of business conduct,” a statement said.
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The board said it had ordered an investigation overseen by chairman Paul Bulcke and lead independent director Pablo Isla, with the support of outside counsel.
“This was a necessary decision. Nestle’s values and governance are strong foundations of our company. I thank Laurent for his years of service,” Bulcke said in a statement.
A company veteran, Freixe joined Nestle in France in 1986. He ran the firm’s European operations until 2014, steering them through the subprime and euro crises that began in 2008.
He headed the Latin America division before his promotion as CEO.
Freixe had only been in the top spot since a surprise switch in September 2024, entrusted with reversing soft spending by consumers for the company’s food and household goods.
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Nestle’s share price slumped by nearly a quarter last year, raising concerns in Switzerland, where pension funds invest heavily in the company, whose brands also include Purina dog food, Maggi bouillon cubes, Gerber baby food and Nesquik chocolate-flavoured drinks.
Nestle shares closed up 0.13 percent at 75.49 Swiss francs on the Swiss stock exchange.
– Net profits –
In late July, Nestle reported a 10.3-percent drop in first half profits as it struggled to turn around its fortunes amid sluggish consumer spending in China, even as it passed on higher cocoa and coffee prices to consumers.
New chief executive Navratil had been an executive vice-president at Nestle, which is headquartered in Vevey on Lake Geneva.
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“The board is confident that he will drive our growth plans forward and accelerate efficiency efforts. We are not changing course on strategy and we will not lose pace on performance,” insisted chairman Bulcke.
Navratil started his career with Nestle in 2001 and took on various roles in Central America, leading the coffee and beverage business in Mexico from 2013 to 2020, when he took over responsibility for global strategy and innovation for the Nescafe and Starbucks brands.
He became chief executive of the Nespresso brand in July last year and joined the company board in January 2025.
“I fully embrace the company’s strategic direction, as well as the action plan in place to drive Nestle’s performance,” said Navratil, pledging to “drive the value creation plan with intensity.”
News
VIDEO: Motorists Stranded As Bridge Fails On Lagos-Benin Expressway
Published
11 hours agoon
September 1, 2025By
Editor
Motorists and passengers were stranded for hours after a truck fell near a failed portion of a bridge along the Isoko axis of the Lagos-Benin Expressway, exposing the river beneath and rendering the route impassable.
A viral video from the scene showed queues of trapped vehicles as frustrated road users called on the Minister of Works, David Umahi, to urgently repair the dilapidated sections of the highway.
One stranded passenger, who was filmed in the video, lamented that the incident left commuters stuck for over two hours, halting both vehicular movement and the flow of goods.
He said, “I’m currently standing on the Benin-Lagos Expressway, and where we are now is Isoko Camp. This is a bridge, a very short bridge, and this message is to the Minister of Works, Dave Umahi, the one who is building a road from Lagos-Calabar Highway, the road to nowhere. This place is currently shut down.
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“This truck fell here, and there’s no way. Look at this place. Vehicles are blocked. Look this way, everywhere packed up.”
The visibly frustrated commuter revealed the deteriorating state of the bridge, pointing to exposed sections above the river, which he described as a threat to lives and businesses.
He criticised the Federal Government’s focus on the Lagos-Calabar Coastal Highway project, accusing Umahi of neglecting critical economic routes such as the Lagos-Benin Expressway.
“This is an expressway, and we have a minister. This is the Lagos-Benin Expressway yet, our minister, dey do Lagos – Calabar Highway,” he said.
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“This is what we have. Do you know how many people pass here? As I’m speaking to you now, if you look up, trailer. If you know the number of trailers that are here and are trapped, it means the economy of Nigeria is affected. Because the number of goods and services has been shut down. Everywhere is shut down.
“This road now, everywhere is at standstill. This vehicle is even lucky that it didn’t fall into the water. And we have a Minister of Works wasting money, saying Calabar Expressway.”
He further argued that the Lagos-Benin Expressway carries more economic importance than the Lagos-Calabar Highway, urging the minister to prioritise repairs.
READ ALSO:Early Morning Accident Claims Eight Lives, Injures Eight Others In Lagos
He said, “Mr. Minister, let me educate you. If you have a small economic sense, you will know that this road alone is affecting Nigeria’s economy. But that Calabar Expressway, it’s not affecting anybody. If you go there now, you won’t see vehicles parked lined up there. The only place where you will see vehicles lined up is on this road. So if the Minister has more direction, he will go and fix this road.
“I see when they say they need more money, they are borrowing more money to put in the road we don’t use. Then the one we use is abandoned. So please, those who are close to the Minister, talk to him. We are stranded here now. We have been here for over two hours now, and nothing is moving.”
The video has gained the attention of concerned citizens on social media, some of whom describe the road as a “death trap” and joined in calling for quick intervention on the road.
Watch video below:
https://x.com/MobilePunch/status/1962577345832714466?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1962577345832714466%7Ctwgr%5Edf307ccd0eb71fe84e2d24b726307513398112b3%7Ctwcon%5Es1_c10&ref_url=https%3A%2F%2Fpunchng.com%2Fvideo-motorists-stranded-as-bridge-fails-on-lagos-benin-expressway%2F
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