₦airaland Forum

Axa Mansard to Sell Pensions, Real Estate Assets
https://businesspost.ng/economy/axa-mansard-to-sell-pensions-real-estate-assets/

Nigeria Offers 30-Year Bond at 14.80%, 5-Year at 12.75%
https://businesspost.ng/economy/nigeria-offers-30-year-bond-at-14-80-5-year-at-12-75-2/

Afriland Sinks NASD Exchange by 0.03% on Thursday
https://businesspost.ng/economy/afriland-sinks-nasd-exchange-by-0-03-on-thursday/

Tinubu Square Gets Additional €15m Investments
https://businesspost.ng/technology/tinubu-square-gets-additional-e15m-investments/

Expect Better Stock Exchange After Demutualisation—Onyema
https://businesspost.ng/economy/expect-better-stock-exchange-after-demutualisation-onyema/

Infrastructure Development Key to Growth—SEC
https://businesspost.ng/economy/infrastructure-development-key-to-growth-sec/

New York-based Long Arc Capital and the French investment bank Bpifrance have invested additional €15 million in Tinubu Square, the market leader for enterprise software solutions to Credit and Surety Insurers.

Recall that in 2018, Tinubu Square launched a 5-year strategic plan to expand its global footprint and propel innovation.

“The early results of our 5-year plan have already been extremely successful,” said Jérôme Pezé, CEO. “In just two years, we have more than doubled our annual recurring software revenue.”

“We have a clear vision of what we need to do to achieve our goals over the next three years,” added Olivier Placca, Deputy CEO. “Our teams, our shareholders and our partners are all aligned and committed to our mission.”

In a statement, Tinubu Square said it intends to use the additional €15 million of capital to target high growth international markets for Credit Insurance and Surety software; an ambition supported by Long Arc Capital and Bpifrance

At the end of 2017, Long Arc Capital and Bpifrance invested €53 million in Tinubu Square. The firm has significant experience in partnering with entrepreneurs to build category-leading businesses.

“The Tinubu team has performed incredibly well over the last few years,” said Vincent Fleury, Tinubu Board Member and a Partner of Long Arc Capital. “The business is now poised to become the market-leading enabler of digital transformations for the Credit and Surety Insurance industries. With this additional capital, we expect Tinubu will achieve new levels of success in the U.S. as well as in the rest of the world.”

Bpifrance, invested in Tinubu Square since 2011, continues to demonstrate its mission as a long-term stakeholder enabling entrepreneurial projects to deliver their full potential. Nicolas Herschtel, Deputy Managing Director of Large Venture, the Growth fund of Bpifrance, applauded Tinubu Square’s international development which, according to him, is a wonderful example of world-leading technology originating from France.

https://businesspost.ng/technology/tinubu-square-gets-additional-e15m-investments/

Access Bank Moves Head Office to New Location
https://businesspost.ng/banking/access-bank-moves-head-office-to-new-location/

UBA Marketing Chief Becomes Transcorp Hotels MD/CEO
https://businesspost.ng/jobs/uba-marketing-chief-becomes-transcorp-hotels-md-ceo/

Oil Extends Gains as Brent Trades at $56 Per Barrel
https://businesspost.ng/economy/oil-extends-gains-as-brent-trades-at-56-per-barrel/

Naira Records Marginal Gain Against Dollar at I&E
https://businesspost.ng/economy/naira-records-marginal-gain-against-dollar-at-ie/

Nigerian Equities Survive Scare, Gain 0.02% at Midweek Session
https://businesspost.ng/economy/nigerian-equities-survive-scare-gain-0-02-at-midweek-session/

Nigeria's Unlisted Securities Market Closes Flat for Third Day
https://businesspost.ng/economy/nigerias-unlisted-securities-market-closes-flat-for-third-day/

Zenith Bank Creates Z-Woman for Female Business Owners
https://businesspost.ng/banking/zenith-bank-creates-z-woman-for-female-business-owners/

Forte Oil Officially Becomes Ardova Plc After CAC Approval
https://businesspost.ng/economy/forte-oil-officially-becomes-ardova-plc-after-cac-approval/

AfDB, Others Worsening Nigeria's Debt Burden—World Bank
https://businesspost.ng/economy/afdb-others-worsening-nigerias-debt-burden-world-bank/

MTN Expects 10% Growth in FY 2019 Earnings Per Share
https://businesspost.ng/economy/mtn-expects-10-growth-in-fy-2019-earnings-per-share/

CBN Eases Rates for Short, Mid-Dated T-Bills at PMA
https://businesspost.ng/economy/cbn-eases-rates-for-short-mid-dated-t-bills-at-pma/

By Modupe Gbadeyanka

A visa waiver agreement for diplomatic and official passport holders has been signed between Nigeria and Ethiopia, the presidency has disclosed.

A statement signed on Tuesday by the Senior Special Assistant to the President on Media and Publicity, Mr Garba Shehu, stated that the agreement between both African nations was signed during a visit to the country by President Muhammadu Buhari.

Mr Buhari was in Ethiopia for an African Union (AU) meeting and he used the occasion to also sign a Memorandum of Understanding (MoU) on cooperation in the field of defence with his host country, which has Mr Abiy Ahmed as its Prime Minister.
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At the signing ceremony of the agreement on Tuesday in Addis Ababa, both leaders witnessed their Ministers of Foreign Affairs, Mr Geoffrey Onyeama of Nigeria and Mr Gedu Andargachew of Ethiopia put pen to paper.

Earlier, while meeting with the Ethiopian Prime Minister, President Buhari had discussed how to explore new areas of collaboration to further enhance and expand Nigeria-Ethiopia bilateral cooperation for the mutual benefits of the two countries.

The visa waiver agreement is expected to ease travels by officials and contribute to further strengthening of bilateral relations.
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According to the presidency, the MoU on defence cooperation is important to both countries in the coordination of efforts in the fight against terrorism and securing peace and stability in their respective sub-regions, as well as on the continent of Africa.

It is expected to also enhance bilateral military cooperation in the areas of training and education, technical assistance, exchange of visits and defence technology transfer.

Mr Shehu said tt also entails cooperation in peace support operation issues within the framework of the respective laws of the Parties and on a reciprocal basis.
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Both sides agreed to swiftly conclude negotiations on the revised Bilateral Air Services Agreement and the MoU on cultural cooperation.

It is believed that the consummation of these two agreements will provide veritable platforms for deepening existing air transport services, tourism and cultural exchanges between the two countries.

Meanwhile, President Buhari, who expressed gratitude for the warm and generous hospitality extended to him and his delegation during the visit, asked the Ethiopian leader to pay a reciprocal state visit to Nigeria on mutually convenient dates.

https://businesspost.ng/general/nigeria-ethiopia-sign-visa-waiver-agreement/

By Dipo Olowookere

There is an unease among observers of the Nigerian economy over the fast rate the nation’s external reserves are declining in recent times.

Recall that last month, Business Post raised an alarm over the issue and projected that it was only a matter of few days before the reserves fall below $38 billion and hit the $37 billion region.

Days after our report, the account, which holds foreign earnings generated by Nigeria as well as issued Eurobonds, has reduced and as at the close of business on Monday, February 10, 2020, what is left is about $37.4 billion, going by data obtained by Business Post from the Central Bank of Nigeria (CBN).

It was observed that the reserves went down to its present level from $37.6 billion last Friday and $37.7 billion last Thursday.
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As at January 31, 2020, what was held in the account was $38.0 billion and by Monday, February 3, 2020, it had dropped to $37.8 billion. It means in less than two weeks in the month of February 2020, the foreign reserves have declined by about $600 million.

The recent decline in the price of crude oil at the international market has not helped Nigeria’s determination to generate more revenue. The commodity has been the main source of foreign earnings for the largest producer of oil in Africa. The country also prides itself as the giant of continent with also the largest economy.
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In the 2020 budget, the federal government fixed oil benchmark at $57 per barrel, with production of crude oil at over 2 million barrel per day.

However, the deadly coronavirus has put a dent to these projections, with the Brent, under which Nigeria’s oil is priced, is selling below $54 per barrel, while the Organisation of the Petroleum Exporting Countries (OPEC) has taken steps to ask its members to further reduce the volume of oil they produce in order to keep prices higher.

It is being speculated that Nigeria may be forced to further cut its present output cap of 1.7 million barrels per day if the proposed 600,000 barrels per day additional ceiling is agreed by members of the cartel.
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At the moment, Russia, one of the key members of the group, is not okay with this decision, leaving the commodity to continue to bleed at the global market.

If prices continue to trade down and the CBN maintains its weekly intervention at the local foreign exchange market, the reserves will continue to dry up and may pull the country into another recession in five years. The apex bank may also be forced to devalue the Naira, which the present government of President Muhammadu Buhari is opposed to.

For now, observers will continue to watch and see the direction things go.

https://businesspost.ng/economy/worry-as-nigerias-external-reserves-head-to-36bn-now-37-4bn/

NSE to Set up NGX Regulation Limited to Regulate Stock Market
https://businesspost.ng/economy/nse-to-set-up-ngx-regulation-limited-to-regulate-stock-market/

Worry as Nigeria's External Reserves Head to $36bn, Now $37.4bn
https://businesspost.ng/economy/worry-as-nigerias-external-reserves-head-to-36bn-now-37-4bn/

MTN Nigeria, 12 Others Lift Stock Market by 0.36%
https://businesspost.ng/economy/mtn-nigeria-12-others-lift-stock-market-by-0-36/

Brent Crude Oil Gains Though Still Below $54
https://businesspost.ng/economy/brent-crude-oil-gains-though-still-below-54/

NASD OCT Market Trades N12.2m Stocks Tuesday
https://businesspost.ng/economy/nasd-oct-market-trades-n12-2m-stocks-tuesday/

By Adedapo Adesanya

The Central Bank of Nigeria (CBN) has exempted FrieslandCampina WAMCO Plc, Nestle Nigeria Plc and four other milk producing companies from the foreign exchange (forex) restriction it earlier placed on them on the importation of the product into the country.

In a circular signed by the CBN Director, Trade and Exchange Department, Mr O.S. Nnaji, to all authorised dealers published on its website on Tuesday, February 11, the apex bank said Friesland Campina WAMCO Nigeria; Chi Limited; TG Arla Dairy Products Limited; Promasidor Nigeria Limited; Nestle Nigeria Plc (MSK only); Integrated Dairies Limited are the only companies exempted from the restriction for now.
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According to the statement, the move was as part of the federal government’s plan to boost local production of the dairy product as part of the bank’s backward integration programme.

“As part of efforts to increase local production of milk, its derivatives and dairy products, the Central Bank of Nigeria has engaged with some companies in the industry who have keyed into the bank’s backward integration program to enhance their capacity and improve local milk production,” the statement read in part.

It then directed all authorised dealers that all Forms ‘M’ for the importation of milk and its derivatives shall only be allowed for the exempted six companies.
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The bank clarified that, “For the avoidance of doubt, all established Forms ‘M’ for the importation of milk and its derivatives for companies other than the above for which shipment has not taken place should be cancelled immediately.”

The exempted companies began investments in local milk production as part of the central bank’s backward integration plan when the CBN governor, Mr Godwin Emefiele, confirmed that there were plans to restrict forex for milk importation in July 2019, saying the bank was convinced that the product can be manufactured in Nigeria.
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In November 2019, FrieslandCampina WAMCO Nigeria Plc and the Niger State Government signed a Memorandum of Understanding (MoU) for 10,000 hectares of land for milk production. The agreement will see the dairy company utilize the Bobi Grazing Reserve in the Northern state for its Dairy Development Programme.

The restriction placed on the importation of the product according to the CBN Governor is expected to see a reduction in over $1.2 billion spent every yearly to import milk into the country.

https://businesspost.ng/economy/milk-import-cbn-exempts-friesland-nestle-4-others-from-forex-restriction/

Milk Import: CBN Exempts Friesland, Nestle, 4 Others from Forex Restriction
https://businesspost.ng/economy/milk-import-cbn-exempts-friesland-nestle-4-others-from-forex-restriction/

Access Bank Board Okays Dividend Payment to Shareholders
https://businesspost.ng/banking/access-bank-board-okays-dividend-payment-to-shareholders/

NSE Agrees to List Prestige Assurance's N6.73bn Rights Issue
https://businesspost.ng/economy/nse-agrees-to-list-prestige-assurances-n6-73bn-rights-issue/

Nigeria Assures Foreign Oil Investors High Returns
https://businesspost.ng/economy/nigeria-assures-foreign-oil-investors-high-returns/

NSE Falls to 5-Week Low as Index Dips Below 28,000
https://businesspost.ng/economy/nse-falls-to-5-week-low-as-index-dips-below-28000/

T-Bills Yields Expand 0.61% as OVN Rate Hits 16%
https://businesspost.ng/economy/t-bills-yields-expand-0-61-as-ovn-rate-hits-16/

Oil Extend Losses over Russia’s Delay on Further Cuts
https://businesspost.ng/economy/oil-extend-losses-over-russias-delay-on-further-cuts/

Stocks on NASD Exchange Record no Price Movement Monday
https://businesspost.ng/economy/stocks-on-nasd-exchange-record-no-price-movement-monday/

T-Bills Yields Expand 0.61% as OVN Rate Hits 16%
https://businesspost.ng/economy/t-bills-yields-expand-0-61-as-ovn-rate-hits-16/

Customers Slam N7bn Suit on Adam Nuru-led FCMB
https://businesspost.ng/banking/customers-slam-n7bn-suit-on-adam-nuru-led-fcmb/

Financial Stocks Contribute 81% to NSE Weekly Trading Volume
https://businesspost.ng/economy/financial-stocks-contribute-81-to-nse-weekly-trading-volume/

Nigeria Sold $504m Crude Oil, Gas in November 2019—NNPC
https://businesspost.ng/economy/nigeria-sold-504m-crude-oil-gas-in-november-2019-nnpc/

Access Bank to List B15bn Green Bond on Luxembourg Stock Exchange
https://businesspost.ng/economy/access-bank-to-list-n15bn-green-bond-on-luxembourg-stock-exchange/

AIICO Insurance Mulls N3.5bn Rights Issue
https://businesspost.ng/economy/aiico-insurance-mulls-n3-5bn-rights-issue/

International Breweries Lists Another 18.3 Billion Shares on NSE
https://businesspost.ng/economy/international-breweries-lists-another-18-3-billion-shares-on-nse/

NSE Grows Value of Exchange Traded Funds to N6.9bn in 9 Years
https://businesspost.ng/economy/nse-grows-value-of-exchange-traded-funds-to-n6-9bn-in-9-years/

Nigeria Loses $10bn Revenue to Multinationals—FIRS
https://businesspost.ng/economy/nigeria-loses-10bn-revenue-to-multinationals-firs/

Oil Prices May Rally This Week on Russia’s Agreement to Further Cuts
https://businesspost.ng/economy/oil-prices-may-rally-this-week-on-russias-agreement-to-further-cuts/

Jesuit College's Oyindamola Aje Emerges Nigeria’s Best Science Student
https://businesspost.ng/education/jesuit-colleges-oyindamola-aje-emerges-nigerias-best-science-student/

Fintech Now Attracting Young People to Capital Market—SEC
https://businesspost.ng/economy/fintech-now-attracting-young-people-to-capital-market-sec/

Keystone Bank, Afreximbank, Others Promote African Creative Industry
https://businesspost.ng/showbiz/keystone-bank-afreximbank-others-promote-african-creative-industry/

Nnewi Deserves to be Full Manufacturing Hub in Nigeria—Moghalu
https://businesspost.ng/economy/nnewi-deserves-to-be-full-manufacturing-hub-in-nigeria-moghalu/

NSE Stops Issuing New Licenses to Stockbrokers, Backs Merger
https://businesspost.ng/economy/nse-stops-issuing-new-licenses-to-stockbrokers-backs-merger/

Demutualisation: NSE Holds Court-Ordered Meeting March 3
https://businesspost.ng/economy/demutualisation-nse-holds-court-ordered-meeting-march-3/

UBA, USAID Sign Deal on Trade, Investment
https://businesspost.ng/banking/uba-usaid-sign-deal-on-trade-investment/

Hunger for One-Year OMO Bills Drops at CBN Auction
https://businesspost.ng/economy/hunger-for-one-year-omo-bills-drops-at-cbn-auction/

Abbey Mortgage Bank Lists Fresh Shares on NSE After VFD Group’s N2.4bn Investment
https://businesspost.ng/economy/abbey-mortgage-bank-lists-fresh-shares-on-nse-after-vfd-groups-n2-4bn-investment/

NASD OTC Exchange Closes Flat as Activity Level Wanes
https://businesspost.ng/economy/nasd-otc-exchange-closes-flat-as-activity-level-wanes/

Jaiz Bank Raises Post-Tax Profit by 114% in FY’19
https://businesspost.ng/banking/jaiz-bank-raises-post-tax-profit-by-114-in-fy19/

NSE Warns Investors to Trade Thomas Wyatt Stocks ‘With Caution’
https://businesspost.ng/economy/nse-warns-investors-to-trade-thomas-wyatt-stocks-with-caution/

Sunu Assurance Seeks Approval to Convert Debt to Equity, Raise N8bn
https://businesspost.ng/economy/sunu-assurance-seeks-approval-to-convert-debt-to-equity-raise-n8bn/

Inuwa Joins Fidelity Bank as Independent Non-Executive Director
https://businesspost.ng/jobs/inuwa-joins-fidelity-bank-as-independent-non-executive-director/

Reps Probe Use of Over $1bn Donated for Agric Projects
https://businesspost.ng/economy/reps-probe-use-of-over-1bn-donated-for-agric-projects/

US Senate Impeachment Trial of Trump and Nigeria’s Legislative Conduct: An Assessment
https://businesspost.ng/featureoped/us-senate-impeachment-trial-of-trump-and-nigerias-legislative-conduct-an-assessment/

By Omoshola Deji

In Athens, 510 BC, Cleisthenes instituted democracy to foster greater: accountability of institutions and leaders to citizens and the law. Today, the tenet is being flouted with impunity, especially in developing nations, where most of the heads of parliament are puppets of the president. Nigeria tops the list. While her legislature is failing in oversight and overlooking misconducts, that of the United States (US) prosecuted President Donald Trump and almost removed him from office.

This piece evaluates the two countries legislative conduct, based on the proceedings of Trump’s impeachment trial.
Process and History of US and Nigerian President Impeachment

Article II, section 4 of the US Constitution empowers Congress – comprising the House of Representatives and Senate – to remove the president from office for, and conviction of, treason, bribery, or other high crimes and misdemeanours.

The House and Senate gets to remove the president in two separate trials. First, the House would deliberate and approve the articles of impeachment through a simple majority vote. The second trial occurs in the Senate, where conviction on any of the articles requires a two-third majority vote, which if gotten, results in the president’s removal from office. Trump’s impeachment succeeded in the House, but failed in the Senate, denoting he remains president.

Only three presidents have been impeached throughout US over 230-year-old democracy. First, Andrew Johnson was impeached in 1868 for violating the Tenure of Office Act. Then, Bill Clinton was impeached in 1998 for perjury, obstruction of justice and having an inappropriate relationship with White House intern, Monica Lewinsky. Lastly, Donald Trump was impeached December 2019. Each of the three – Johnson, Clinton and Trump – escaped removal from office through Senate’s acquittal.

Impeaching Nigeria’s president is a difficult, almost an impossible task. The lengthy, extremely cumbersome process is contained in Section 143 of the 1999 Constitution. No Nigerian president has been impeached, despite their gross incompetence and serial abuse of power.
Allegations against Trump and the Buhari Comparison

Trump’s impeachment trial was a straight confrontation between the ruling Republican, and opposition Democratic Party. The president was tried on two articles of impeachment for abuse of power and obstruction of Congress.

The abuse of power bothers on alleged solicitation of foreign interference in the 2020 US presidential election. Trump allegedly withheld $391 million aid to Ukraine; upon which he secretly pressurized President Volodymyr Zelensky (of Ukraine) to start investigating former US vice-president Joe Biden for corruption. Trump only released the aid to Ukraine after a whistle-blower complaint.

Biden was ex-president Barrack Obama’s deputy and currently one of the Democratic Party’s presidential aspirants. Trump wants Biden and son, Hunter, investigated for alleged corrupt practices during the Obama presidency’s (2009-2017) aid supply to Ukraine. The US president allegedly pressured his Ukrainian counterpart to investigate Biden, despite being aware that the US Prosecutor General had cleared him and his son of corruption in May 2019.

To ensure Biden is investigated, Trump allegedly refused to allow Zelensky visit the White House at a time Ukraine urgently needs the meeting to send fears to its aggressors, particularly Russia, that it has US backing. The Democrats insisted Trump undermined US interests by his action, and must be removed for conditioning congressionally mandated aid on ‘quid pro quo’ – meaning ‘favour for favour.’

Nigeria’s President Muhammadu Buhari is an adherent of ‘quid pro quo.’ His declaration that the Northern region, which gave him 95 percent votes would be favoured than the Southeast that gave him 5 percent is ‘quid pro quo’ – conditioning governance favouritism on votes; favour for favour. Presidents are expected to govern with equity and fairness, but Buhari promised sectionalism and delivered as pledged. The proscription of IPOB, while killer herdsmen are operating unchecked, apparently because they’re among the 95 percent is a dangerous ‘quid pro quo’ adherence that can lead Nigeria into another civil war.
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Aside Trump’s hold on aid, the second article of impeachment – obstruction of Congress – bothers on the president’s deliberate blockage of formal legislative inquiries. Trump allegedly instructed all government officials to ignore House subpoenas for testimonies and documents. He ensured no piece of paper or email was turned over to the House. Certainly, Trump would have done worse if he’s a Nigerian.

If Trump was a Nigerian president, he would have ordered the police to lay siege on US House Speaker, Nancy Pelosi’s residence as President Buhari repeatedly did to former Senate President Bukola Saraki. Pelosi would have been distracted with false asset declaration charges till she’s acquitted by the Supreme Court. The Dino Melaye’s in her camp would have been hounded and arraigned on several trumped-up charges. If Trump was a Nigerian president, masked, heavily-armed State Security Service (SSS) operatives would have obstructed the legislators from entering the chambers to carry out impeachment.

The Democrats’ resolve to impeach Trump was perhaps comeuppance, but certainly an insult to Nigerians. The same legislators rebuking Trump supported Obama’s interference in Nigeria’s 2015 presidential election. The poll, as Obama desired, resulted in the first-in-history defeat of then incumbent president, Goodluck Jonathan. It is at best surprising, and at worst annoying that the same Democrats who backed Obama’s action on Nigeria are scolding Trump for trying to aid his win through foreign interference. How miserable for them to live with their own nemesis?

Unlike the US, foreign interference in Nigerian elections attracts no legislative criticism, let alone impeachment. Nigerian legislators took no action when two state governors from Niger Republic crossed into Nigeria to join Buhari’s 2019 re-election campaign in Kano State.

The abuse of power charges against Trump can’t fly for impeachment in Nigeria. Successive presidents have committed greater offenses without reprimand. Ex-president Olusegun Obasanjo spent heavily on electricity provision without result and ordered the Odi massacre. The legislature never summoned him. President Buhari has more than once repressed free speech, disobeyed court orders and spent without legislative approval. Yet, the Senate has never cautioned him. Indeed, what the US lawmakers see as ‘abuse of office’ is what their Nigerian counterpart rank as ‘executive grace.’

US often punishes, but Nigeria rewards wrongdoing. The former’s first citizen, arguably the strongest man in the world, was made to face a tough trial for abuse of office. His record is tainted even though he’s acquitted. Nigeria works the other way round. In the 8th Senate, suspended Senator Ovie Omo-Agege allegedly invaded plenary with thugs, who took away the mace right before the cameras. Rather than prosecute him to serve as a deterrent, the ruling party rewarded him with the exalted position of deputy-senate president in the subsequent, current 9th Senate. Omo-Agege is currently leading the same chamber he once allegedly desecrated. Such can’t occur in the US.
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Trial Debate: Democrat vs. Republican

The US senate impeachment trial of Trump was a pure intellectual, thrilling and rigorous debate. The House Managers, comprising mainly the Democrats, argued that Trump deserves to be sacked for obstructing Congress investigation; promoting foreign interference in US election; and withholding economic, diplomatic and military aid to a strategic US ally (Ukraine) in need.

Defending the allegation, Trump’s defense team, comprising the Republicans, contended that the Democrats were trying to upturn Trump’s mandate in order to prevent him from contesting the next election. They argued that Trump withheld aid to Ukraine because 1) he wanted a burden sharing agreement with Europe; and 2) he was unsure of its efficient use, due to the high level of corruption in Ukraine.

Opposing the submission, the Democrats argued that Trump showed no interest in Ukraine’s corruption before Biden announced his presidential ambition. The Republicans disagreed, and accused the Democrat caucus of using impeachment to shield Biden from corruption investigation. They insisted Biden has a case to answer over his actions on Ukraine when he was vice-president.

Contesting the obstruction of Congress article, Trump’s team argued that the president has the power to assert immunity on his top aides, and he did so against Congress to protect the sensitive operations of government from getting to the public.

Citing former presidents that have used such privilege, the Republicans argued that the Democrat-sponsored articles of impeachment was wholly based on presumptions, assumptions and unsupported conclusions. The Democrats, however, refused to back down; they insisted they had a “mountain of evidence” to prove Trump was guilty.

To support their arguments, both the House Managers and Trump’s defense team went deep into the archives; they went as far as referencing what happened in 1796, during the administration of the first US President, George Washington.

Several Supreme Court judgments, dating back to 1893 were cited. Both parties showed resourcefulness as they used historical, legal and rational arguments to establish their case. Their knowledge of history, politics and law was astounding.

Sadly, majority of Nigerian legislators lack such proficiency. Their contributions to motions are often based on partisan, personal interests and their arguments are often shallow, uninformative and irrational. While watching the trial, I couldn’t help but crave for power to order Nigerian legislators into the US Senate to learn functional legislative practice.
Plenary Session: Nigeria-US Comparison

Both the US House and Senate displayed exceptional commitment to public involvement. Many nations won’t permit the live airing of a sensitive issue such as the impeachment trial of a president. But the US stands out. Every minute of the trial was aired live to the local and global population. Nigerian House and Senate are not doing badly in this regard. Most of their sessions are aired live, including the election of principal officers. However, as being done in the US, the Nigerian legislature needs to make public the details of her income, constituency projects and budgetary allocations.

US senators are more open than their Nigerian counterparts. They boldly reveal their planned vote and the reasons for their decision. Many disclosed that they would vote on the impeachment based on personal conviction and desired legacy. Nigerian senators understandably can’t be that outspoken out of the fear of being hounded. This doesn’t, however, rob off the fact majority of them vote ‘aye’ or ‘nay’ based on financial gain, ethnic and religious sentiments, party instruction, and ‘quid pro quo.’
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Public interest is not always primary to politicians, including the US senators. Most of the Republican senators were more interested in acquitting Trump than ensuring a fair trial. They denied the public access to crucial information by voting against the admission of additional witnesses and documents.

Voting in favour of the motion would have made the Senate evaluate the leaked indicting videos and testimonies of crucial anti-Trump witnesses such as John Bolton, the ex-national security adviser. Without a doubt, Nigerian progressive senators would have done same to save Buhari.

The US legislators conduct at plenary and commitment to national service need to be emulated by the Nigerian Senate. The US Senate leaders and the Chief Justice, John Roberts coordinated the sessions impartially.

They, unlike their Nigerian counterpart, acted neutral, even though they too (as humans) have their own viewpoints and desires. They set rules that would make everyone listen and participate such as prohibiting the use of phones.

Rather than deploy speech interjection, shout-match and walk-out as commonly done in Nigerian chambers, the US legislators acted responsibly. No one spoke without being recognized and they yielded back time promptly. More than once, they sat for about 12 hours on the impeachment and everyone stayed on strong. If the impeachment trial took place in Nigeria, the senate president would have hurriedly adjourn sitting or ‘dabaru’ the process in favour of his party. Moreover, the senators, many of whom are old and lazy, would have yelled for adjournment or slept off.
End Note

Trump’s acquittal by the US senate sets a bad precedence for succeeding presidents to solicit foreign interference in US election and obstruct the investigation of Congress. Conversely, conviction would have opened the door for future sharply partisan, malicious impeachments.

Both the United States and Nigeria need more executive-legislature synergy. The frosty relationship between Trump and Pelosi has worsened over the impeachment trial. They must be reconciled for the benefit of the American people. It’s difficult, but not impossible to have intergovernmental synergy and a vibrant legislature under the Buhari administration. Perhaps Senate President Ahmed Lawan and House Speaker Femi Gbajabiamila need to attend classes on ‘how to function without being a puppet.’

US democracy is not perfect, but Nigeria has a lot to learn from it. The latter must adopt the former’s positive deeds and embrace attitudinal change.

One may blame the large efficiency gap between US and Nigeria’s democracy on the year of adoption. US democracy is over 230 years old, while Nigeria’s current democratic experiment is only 20 years old. But then, if Nigeria’s systemic failure is anything to go by, it will take us over a thousand years to achieve the progress US made in 230 years. The reason is not far-fetch. US has what Nigeria lacks: transparency, accountability and leadership commitment to growth and development.

Omoshola Deji is a political and public affairs analyst. He wrote in via moshdeji@yahoo.com

Disclaimer: The views and opinions expressed in this article are purely of the writer and do not necessarily reflect the position of Business Post Nigeria on the subject matter.

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