Late Ghali Na’Abba: Salute to an Avatar of Democracy

By Ali M. Ali

Ghali Umar Na’Abba was a man with a protean face. Hate him or love him, no one will deny him his progressive credentials.

Any wonder why when he breathed his last on Wednesday in Abuja, the nation’s political capital where he once held court as the lead lawmaker in the Green Chamber of the National Assembly, the panapoly of reactions was as varied as it was profound.

Born into power and affluence on September 27, 1958, Na’Abba was the archetype aristocratic turncoat! Not for him the acquiescence to class conspiracy as early in life, he had demonstrated an aversion for the status quo.

How did this young Turk born into a wealthy mercantile family become an avatar of progressive politics? The answer may well be in his foray into Political Science at the Ahmadu Bello University, Zaria, which was then the hot bed of intellectual radicalism in Northern Nigeria.

It was not surprising that as a student, Na’Abba was elected as an executive committee member of the Ahmadu Bello University chapter of the revolutionary People’s Redemption Party (PRP).

The PRP, established by maverick politician and elder statesman, Aminu Kano, stood out as the lone champion of good governance and transparency in the then murky politics of Nigeria. These virtues certainly resonated well with the upwardly mobile Na’Abba.

Reading well the underpinnings of Nigerian politics and its intriguing contractions, Na’Abba was a formative member of the Peoples Democratic Party at the dawn of democracy in 1998, emerging the party’s candidate in the April 1999 National Assembly election in Kano Municipal Federal Constituency of Kano State.

Buoyed by the tremendous goodwill which his personae attracted and the popularity among his fellow lawmakers, Na’Abba sought the position of Speaker.

But he was to bow to pressure, allowing the youthful Salisu Buhari to emerge as the first Speaker of the Fourth Republic.

Buhari’s tenure was, however, short-lived, as he was consumed by the scandalous certificate forgery saga, opening the door for a triumphant Na’Abba to emerge Speaker.

One defining feature of Na’Abba’s emergence as Speaker was the utmost consensus among his colleagues about the fidelity of his politics and his farsighted vision of a Green Chamber built on the twin pillars of integrity and independence of each arm of government.

These twin virtues were to define his tumultuous relationship with the brusque President Olusegun Obasanjo who spiritedly sought to ride roughshod over the National Assembly.

While the Senate faltered under the onslaught of Obasanjo’s jackboot style of administration, it is to the credit of Na’Abba and his colleagues that the Green Chamber stood up to defend Nigeria’s nascent democracy.

But for Na’Abba and his colleagues, Nigeria’s march to an enduring and sustainable democracy would have been inexorably altered when Obasanjo sought a third term in office through the back door.

Indeed, Na’Abba’s tenure as Speaker was a defining period in Nigeria’s political oddessy as it witnessed vibrant and animated debates, well fashioned bills as well as articulated resolutions and motions.

Most remarkably, that House spoke truth to power as Na’Abba operated from a position of strength, ensconced in the fact that he could mobilise a two-third majority anytime there was a critical matter of state to be deliberated upon.

In those testy years of the Obasanjo presidency, Na’Abba once mobilised more than 300 members out of the 360 in the House of Representatives to overturn the president’s veto on bills such as that of the NDDC among others.

Many would also recall the daring attempt to impeach Obasanjo after the House detailed 32 impeachable offences against him.

A thorn in the flesh of a civilian dictator, it was understandable that ensuring Na’Abba does not win re-election became a presidential project.

In April 2003, Na’Abba sought re-election into the House of Representatives on the platform of his PDP.

After surviving many plots to remove Na’Abba as Speaker, the desperation of the behemoth presidency against his reelection bid was all too brazen.

In the conspiracy to force Na’Abba to lose the election, the PDP also suffered collateral damage with the victory of the All Nigeria People’s Party candidate.

After the 2003 elections, Na’Abba was to return to a life of bemused quietitude on the political sidelines, only regaling the nation once in a while with his seminal interventions

Even in death, Na’Abba remained the spartan image of Nigeria’s political establishment, living his last moments in a rented apartment in Abuja after his house was burnt down in 2011 for supporting then President Good luck Jonathan.

For a man who bestrode the political landscape like a Colossus, it is sardonic irony that members of the nation’s political class are visiting his family home in Kano to pay tributes to his memory.

As we mourn this avatar of pluralist democracy, my thoughts are with his family and all those whose lives he had touched.

May Allah forgive his shortcomings and grant him the highest place in paradise.

Ali is the Managing Director of News Agency of Nigeria.

By Tosin Kolade, News Agency of Nigeria (NAN)

In the bustling streets of Osogbo, the vibrant heartbeat of Osun, a unique tale unfolds each day.

Amid the bustling routine of civil servants and ambitious entrepreneurs, a trio of young boys, aged between 11 and 14, captivates passers-by with spontaneous singing performances.

Recently, the boys, fuelled by passion and circumstance, created an open-air concert outside a popular restaurant in the city.

Their lyrics weave through the air, leaving onlookers enchanted and reaching for their smartphones to capture the daily spectacle.

Meet 11-year-old Waheed Adekunle, a charismatic member of this musical trio. As I inquired about their journey, he shared a story that spanned two years of dedication and resilience.

Adekunle’s father, a person with disability, sits by the side, watching the children do their thing.

“We do this every day; we’re friends. I am in primary six, I attend Salvation Army Middle School in Alekuwodo,” Waheed explained with a sparkle in his eyes.

Their street performances, a harmonious blend of singing and dancing, serve a dual purpose – artistic expression and financial sustenance.

Waheed illuminated the economic connection to their passion, revealing that they made between N2,000 and N3,000 on a daily basis.

“Singing brings us joy, and some people even ‘dash’ us money. We’re making ends meet while pursuing our dreams,” he told News Agency of Nigeria (NAN).

When asked about his musical inspirations, Waheed pointed to icons like Portable and Naira Marley, expressing his desire for fame.

Another member of the group, 13-year old Olaleke Ahmed, said they visit other popular places to show their craft, saying they are want to support their parents with the little things earning.

In these spontaneous performances, young talents like Ahmed and Adekunle find a stage to showcase their aspirations and give joy to their audience.

In the heart of Nigeria, a harsh reality unfolds beneath the shadows of economic struggle as more young people, inspired by the success stories of others seek to use their various talents to improve families’ financial fortunes.

In the bustling streets and hidden corners, young children find themselves caught in the web of poverty, compelled to enter the workforce at an age when their dreams should be taking flight.

Nigeria, a country with diverse landscapes and cultures, bears witness to a narrative that often goes unnoticed –pervasive issue of child labour.

There is an intricate connection between poverty and the exploitation of the innocence of these young souls.

As the sun beats down on the crowded streets, one can’t help but notice the silent struggle etched on the faces of children who should be playing, learning, and dreaming.

Instead, they navigate the path of economic hardship, their small hands engaged in work meant for more experienced fingers.

Take a walk through the impoverished neighbourhoods, and you’ll encounter heart breaking scenes where children, as young as eight or nine, labour in various capacities to contribute to their families’ income.

The dream of education becomes a distant mirage as survival takes precedence.

Andrew Aina, is a 10 year-old boy with dreams as vast as the Nigerian sky. However, his reality paints a different picture.

“I sell things like sachet water and drinks at Owode market in Osogbo after school hours to help my family.

“We struggle to make ends meet and I want to contribute,” he said sharing, a glimpse into the daily sacrifice that poverty exerts on these young shoulders.

The removal of petrol subsidy by President Bola Tinubu has not helped matters.

The removal of the fuel subsidy was supposed to boost the economy, after a brief period of pain, but for the urban poor who live balanced on thin margins, it is having a deep effect.

To cushion the effect of this policy, the government has promised to increase the supply of grain and fertiliser, raise award a special allowances to civil servants, and supply palliatives to the poorest households.

But none of these have so far made a significant difference to the quality of life of most Nigerians, who are increasingly looking to God and their neighbours for support.

Dr Sarah Aguocha, a child psychologist, said the nexus between poverty and child labour is complex.

According to her, families trapped in the cycle of deprivation often see no alternative but to send their children into the workforce.

“Education, which holds the promise of a brighter future, becomes an unattainable luxury.

“In this intricate dance between destitution and survival, the dreams of these children are pawned for the immediate relief of economic burden”, she said.

Aguocha said the twin challenge of absence of proper legislation; and enforcement of existing ones exacerbate the issue, allowing the exploitation of youthful vigour at the cost of their innocence.

She said it was crucial for the society to acknowledge this silent crisis and work collectively towards breaking the chains that bind these young spirits.

The psychologist said that through awareness, advocacy, and targeted interventions, there could be a Nigeria where every child is afforded the opportunity to learn, grow, and chase their dreams. (NANFeatures)

**If used please credit the writer and News Agency of Nigeria.

By Usman Aliyu, News Agency of Nigeria (NAN)

The launch of e-Naira in Nigeria on Oct. 25, 2021 marked a significant milestone toward positioning the country as a pioneer in Africa’s digital currency landscape.

Mr Godwin Emefiele, then Governor of the Central Bank of Nigeria (CBN), had explained that the digital currency was expected to complement the traditional Naira while offering a range of benefits, including cost-efficiency, enhanced monetary policy effectiveness, and improved financial inclusion.

Notwithstanding these potential advantages, the e-Naira has continued to face acceptance and adoption challenges, more than two years after the currency was officially launched.

Financial experts attribute the reluctance to embrace the e-Naira among Nigerians to the inherent skepticism and concerns surrounding digital currencies and their impact on the economy.

Mr Yinka Rabiu, a director at the Ilorin branch of the CBN, says the concept of digital currencies is relatively new to many individuals, and there is a natural hesitancy to trust a system that operates solely in the digital realm.

Additionally, he says there is a lack of understanding among the general public about the operational mechanisms and security features of the e-Naira, leading to apprehensions about potential risks and vulnerabilities.

“First, it is a new innovation and we need to do more awareness for people to understand the need to change to e-Naira.

“Similarly, commercial banks are not happy with e-Naira because it is free of transaction charges.

“While little merchants are unbothered, market women have little knowledge on it and rural area without network or smart phone can not have access unless using USSD *997#,” says the senior CBN official.

Corroborating, Mr Femi Babatunde, a financial expert, said that the digital currency represents a fundamental shift in currency which promises the convenience of digital money with the reliability of government backing.

“Its significance lies in the potential to modernise financial systems and streamline transactions, marking the next step in the evolution of money.

“Digital currencies stand to revolutionise the financial landscape by enhancing liquidity flow and streamlining banking operations. The advantages they offer extend to cross-border transactions, reducing costs and time involved,” he says.

A widespread adoption, he notes, could drastically improve financial inclusivity and efficiency, transcending traditional banking models.

Furthermore, he avers that the broader technological infrastructure in Nigeria presents a significant hurdle to the widespread adoption of the e-Naira.

According to this expert, limited internet connectivity, particularly in rural areas, poses a challenge for individuals who may not have consistent access to the internet or smartphones, which are often essential for digital currency transactions.

He explains that enhancing the technological infrastructure to support a seamless transition to digital currency is crucial for overcoming this barrier to adoption.

But for Mr Jude Osunbunmi, an entrepreneur, low enlightenment and serious security concerns contribute to the hesitancy surrounding the e-Naira.

With the increasing prevalence of cyber threats and fraudulent activities, he says he is apprehensive about the security of the digital assets and the potential vulnerabilities of the e-Naira system.

Osunbunmi asserts that addressing these concerns through robust security measures and educational initiatives is essential for building trust and confidence in the e-Naira among the public.

Despite these challenges, Rabiu, the CBN director, says there are numerous benefits that the public is missing by not embracing the e-Naira.

Besides the fact that the e-Naira presents the CBN an opportunity to enhance the effectiveness of monetary policy and streamline the government’s capacity to deploy targeted social interventions, Rabiu says it holds the promise of expanding financial inclusion and providing access to formal financial services.

“This is especially critical in a country where a sizable portion of the population remains excluded from the traditional banking system.

“By enabling individuals to transact digitally and access a range of financial services, the e-Naira has the potential to empower marginalised communities and stimulate economic growth,” says the CBN official.

Sharing a similar sentiment, Mr Ben Eze, who is a financial advisor, observed that the adoption of the e-Naira could offer Small and Medium-sized Enterprises (SMEs) greater access to a broader customer base, streamline their financial operations, and reduce the reliance on cash transactions, thereby enhancing efficiency and transparency.

To address the barriers to adoption and maximising the benefits of the e-Naira, Eze advocates collaboration among various stakeholders is paramount.

“The CBN, in partnership with financial institutions, technology providers, and other relevant entities, must prioritise educational initiatives to enhance public awareness and understanding of the e-Naira.

“By demystifying digital currencies and elucidating their potential advantages, the misconceptions and skepticism surrounding the e-Naira can be mitigated.

“Moreover, investments in enhancing the technological infrastructure are imperative to ensure equitable access to digital currency transactions across urban and rural areas.

“This necessitates strategic partnerships with telecommunications companies and internet service providers to expand connectivity and promote digital inclusivity,” says the financial advisor.

For many analysts, the e-Naira represents a transformative opportunity for Nigeria to modernise its financial landscape, drive inclusive economic growth, and foster innovation in the digital economy.

They note that while the challenges of adoption are significant, the potential benefits of the e-Naira are equally compelling.

They agree that through collaborative efforts among stakeholders, proactive measures to address concerns and targeted initiatives to enhance accessibility and usability, the e-Naira can pave the way for a more inclusive, efficient, and resilient financial ecosystem in Nigeria. (NANFeatures)

This report is produced under the DPI Africa Journalism Fellowship Programme of the Media Foundation for West Africa and Co-Develop.

By Usman Aliyu, News Agency of Nigeria (NAN)

Gaily dressed graduates of University of Ilorin were all smiles as they celebrated their achievements of bagging fresh degrees in October 2023.

For them, it was a great moment with families and friends all joining in the celebrations that signified a turning point in their lives.

That joy was, however, replaced with fear and anxiety when many of the graduates received an unexpected broadcast message from Sen. Saliu Mustapha who represents Kwara Central Senatorial District at the National Assembly.

The message, which congratulated the graduates, raised a crucial question: Where did Sen. Mustapha obtain the graduates’ data? And by whose authority?

“I received the message too and it was purely a congratulatory message. I wasn’t bothered initially, but later realised it is a breach of my data rights since I didn’t authorise the release of my school information to a third party,” Mohammed Yakubu, a graduate of Civil Engineering, fumed.

The unsolicited broadcast sparked up concerns about data privacy as it threw up a significant challenge on the fundamental rights of the Nigerian people.

The Ilorin data breach is not an isolated incident; it is just one of many such breaches in the Nigerian cyber space.

That such breaches are becoming so common raise questions about the protection of individuals’ personal information in Nigeria.

According to Surfshark, a cybersecurity firm, data breach incidences in Nigeria increased by 64 per cent in Q1 of 2023, recording 82,000 cases of data breaches in Q1 2023, up from 50,000 recorded in Q4 2022.

Experts observe that data breaches in Nigeria come in various forms, ranging from unauthorised access to personal information, to the unlawful use of individuals’ data without their consent.

These breaches, they observe, do not only violate the privacy of individuals, but also present a direct threat to their security and rights as enshrined in the Nigeria Data Protection Act 2023.

The Nigeria Data Protection Act, which came into force in June, according to data rights advocates, is designed to safeguard the privacy of individuals and regulate the processing of personal data.

The Act outlines the rights of individuals with regards to the collection, use, and sharing of their personal information, so the prevalence of data breaches highlights the urgent need for enhanced awareness and enforcement of these rights.

In the light of the data breach incident involving the unsolicited broadcast message to University of Ilorin graduates, experts in data protection and privacy have emphasised the significance of upholding individuals’ rights under the Nigeria Data Protection Act.

Dr. Ada Nwosu, a cybersecurity expert and advocate for data privacy, comments on the incident.

“The unauthorised use of individuals’ personal data, as demonstrated in the case of the unsolicited broadcast message to graduates, is a clear violation of their privacy and rights.

“It is essential for both public and private entities to adhere to the provisions of the Nigeria Data Protection Act to ensure that individuals’ personal information is adequately protected.”

Nwosu further stressed the importance of raising awareness about data protection rights among the Nigerian populace, urging government agencies, educational institutions and businesses to prioritise the implementation of robust data protection measures.

Mr Tunde Adeleke, a legal practitioner specialising in data privacy law, highlights the legal implications of data breaches and the enforcement of individuals’ rights under the Data Protection Act, which include fines and imprisonment.

“The unauthorised access to individuals’ personal data, as exemplified by the incident involving Sen. Mustapha’s unsolicited message, constitutes a breach of the Data Protection Act.

“Individuals have the right to control the use of their personal information and must be protected from unlawful access and exploitation of their data,” he stated.

Adeleke stressed the need for stringent enforcement of data protection laws and the imposition of penalties on entities found to be in breach of individuals’ privacy rights.

The legal practitioner described as critical, the role of regulatory bodies in overseeing compliance with the Data Protection Act and holding accountable, those responsible for data breaches.

Besides the unauthorised broadcast message incident, experts assert, as well, that the issue of data breach in Nigeria extends to the realm of SIM card registration.

The mandatory registration of SIM cards aimed at enhancing security and curbing criminal activities, they note, has raised concerns about the potential compromise of individuals’ privacy and personal data.

Mr Ibrahim Yusuf, a telecommunications industry analyst, sheds light on the challenges surrounding SIM card registration and data privacy.

“While SIM card registration serves the purpose of identity verification and security, the process has given rise to apprehensions regarding the protection of individuals’ personal information.

“There have been cases of unauthorised access to the database of registered SIM cards, raising questions about the effective protection of individuals’ data,” he said.

The telecom expert made a case for comprehensive measures that would ensure the security of SIM card registration data and prevent unauthorised use, or disclosure of, individuals’ personal information.

He underscored the importance of striking a balance between security considerations and the protection of individuals’ privacy rights within the framework of the Nigeria Data Protection Act.

Amidst the prevailing concerns over data breaches and privacy violations in Nigeria, experts believe public awareness and education is important so as to empower individuals to assert their rights under the Data Protection Act.

Dr. Amaka Okafor, a consumer rights activist, describes as imperative, education of the Nigerian populace about their data protection rights.

“Many individuals are unaware of their rights with regards to the collection and processing of their personal information.

“It is essential to embark on comprehensive public awareness campaigns to inform citizens about their rights under the Data Protection Act, and the steps they can take to safeguard their personal data,” she says.

Okafor also states that it is the responsibility of government agencies, educational institutions and civil society organisations to disseminate information about data protection rights so as to empower individuals to exercise greater control over their personal information.

According to her, there is a need for accessible resources and channels through which individuals can seek guidance and redress, iyn case of privacy violations or data breaches.

Like Okafor, many Nigerians believe that as the country navigates the complexities of data protection and privacy rights, policy makers, regulatory bodies, stakeholders and the public must build a robust framework that upholds fundamental rights.

They posit that the protection of personal data is not only a legal imperative, but also a fundamental aspect of ensuring trust, security and dignity for all Nigerians. (NAN)(www.nannews.ng)

By Usman Aliyu, News Agency of Nigeria (NAN)

In the bustling and diverse landscapes of West Africa, where cultures intertwine and economies thrive, a shared struggle unites its peoples; the ordeal of cross-border digital payments.

According to the ECOWAS, the total trade of the region has averaged 208.1 billion dollars with exports and imports projected at 137.3 billion and 80.4 billion dollars respectively.

For years, individuals and businesses across the region faced formidable challenges in conducting seamless transactions, grappling with exorbitant fees, prolonged processing times, and the overall inefficiency of traditional payment systems.

This predicament hindered economic growth and left many business people in a state of financial uncertainty.

Amidst these struggles, the Pan-African Payment and Settlement System (PAPSS) an initiative spearheaded by the African Union emerged as a tool for ameliorating burden and easing cross border business activities.

Inaugurated on Sept. 28, 2021 by the Afreximbank in conjunction with the African Continental Free Trade Area (AfCFTA), the system is available to be used by businesses on the continent

The PAPSS, experts observe, would alleviate the burdens placed on West Africans by the limitations of existing payment infrastructure.

In Accra, Ghana, Mr. Charles Ifeanyi found himself desperately racing to Kotoka International Airport in the early hours of one Tuesday. An urgent need for a business trip to Lagos left him with no time to book his flight in advance.

With bated breath, he arrived at the airport, hoping for a miracle. Luckily, there were still available seats on Africa World Airlines (AWA). Unfortunately, Ifeanyi only had a Naira MasterCard, while the Ghanaian airline accepted payment in Cedis.

Frantically searching for a solution, Ifeanyi’s heart sank as he watched the flight depart without him. The event he was rushing to in Nigeria slipped through his fingers.

“In the process of trying to find a way out, I missed the flight as well as the event I was going for in Nigeria,” says Ifeanyi while narrating his ordeal to the News Agency of Nigeria (NAN).

Ifeanyi’s story is not unique. Dr Ken Ashigbey found himself facing a similar challenge during his recent stay in Abuja.

Upon checking out of his hotel and returning to Accra, he received an unexpected call from a concerned receptionist. It seemed he had underpaid for his stay, and money needed to be sent to Nigeria urgently.

Realising the obstacle before him, Ashigbey had to reach out to a Nigerian friend for assistance.

Ashigbey’s case reflects the experience shared by many in Africa – the urgent need for an integrated digital payment system that can propel economic growth across the continent.

“To send money to Nigeria became a problem. When I sensed the receptionist was in trouble, I had to call a Nigerian friend, who helped me to pay the money.

“That is the situation in Africa. There’s a need for an integrated digital payment system for Africa if we are to improve on our economic growth,” Dr Ashigbey says.

It is evident that across West Africa. Both businesses and individuals face immense cross-border payment challenges. This is a major roadblock which hinders regional economic growth and collaboration.

Experts and economists point to a myriad of issues plaguing the existing system, ranging from high transaction costs and lengthy processing times to the lack of interoperability among different national payment platforms.

The intricacies of navigating multiple currencies further complicate matters thereby stifling the potential for seamless trade and financial inclusion.

Mr Edward Karanja is a business analyst; he says PAPSS would play a critical role since it integrates local banks across Africa to enable transactional settlements.

“For starters, intra-Africa trade is the biggest goal for the African free trade agreement whose aim is to reduce the tariffs and non-tariffs trade barriers.

The settlement of payments is a key infrastructure to enable this growth,” says Karanja.

The analyst said that the new payment and settlement system aims to simplify and expedite cross-border transactions.

This, he said, would in return increase the volume of trade across Africa, thus growing the African economies.

By providing a centralised and efficient payment and settlement system, PASS, according to him, will reduce transaction costs associated with cross-border payments, especially the dollar conversion rates.

He says de-dollarisation of Africa of some sorts will build a reliance on Africa’s currency as opposed to foreign currencies, hence improving currency stability by lowering the risks associated with foreign currencies fluctuations.

Ade Adefeko, an economist, further shades light into the payment obstacles experienced by African business people.

Adefeko is the chairman, Nigerian Association of Chambers of Commerce, Industry, Mines, and Agriculture (NACCIMA) Export Trade Group.

He said before the PAPSS, a buyer in Nigeria who intended to buy goods from a seller in Botswana would be required to pay the seller in a third currency from outside the continent.

The currency either US dollar, the Euros or the British Pounds, he said, is paid with extra charges to have the agreed sum processed and sent to the seller in Botswana.

Notwithstanding this payment, the buyer, according to him, will still have to wait several days for transactions to clear.

“Aside from time constraints, the process of currency conversation adds to the cost of doing business and in reality, the money has to leave Africa before being sent back to Botswana.

“This has been the situation until the introduction of the PAPSS. It has been conceptualised as a tool to address this by significantly reducing the constraints being experienced in African regional trade payments.

“With the operationalisation of PAPSS, the same business would only pay in Nigerian Naira while the seller will receive Botswana Pula. The PAPSS serves as the clearing, processing and settlement agent in the transaction“, he said.

He said this means that only the deficit between the two countries would be settled using the US dollar, Euros or the British Pounds.

“Whether for shopping, transferring money, paying salaries, dealing in stocks and shares or making high-value business transactions, the PAPSS real-time infrastructure provides a reliable, cost-effective answer for instant payments.

“It enables the efficient flow of money securely across African borders, thereby minimising risk and contributing to financial integration across the regions,” says Adefeko.

To facilitate instant payments across African borders in local currency, experts say, PAPSS supports three core processes. One of these is instant digital payment.

Adefeko said that participants would no longer need to convert local currencies into hard currencies as compliance, legal and sanctions checks are performed instantly within the system within 120 seconds.

Pre-funding, he told NAN, is the second process, where PAPSS guaranteed availability of funds to complete the originator’s transaction before effecting the movement of debits and credits between participants’ accounts

He said, net settlement; whereby PAPSS determines net position in local currency for all participating central banks daily, is the third process that the innovative digital payment system also supports.

The project has been piloted successfully and lives in the six countries that make up the West African Monetary Zone (WAMZ), which are Nigeria, the Gambia, Sierra Leone, Liberia, Ghana and Guinea.

To understand the broader implications of PAPSS, financial experts and economists who have closely monitored the region’s economic landscape react.

Edward, an economist with expertise in digital financial inclusion, underscored the significance of PAPSS in fostering economic collaboration.

“PAPSS is a testament to the potential for technology to break down barriers. By providing a common platform for payments, it encourages intra-African trade and bolsters economic integration,” Karanja said.

Similarly, Dr Aisha Ibrahim, a researcher specialising in financial technology, said PAPSS could facilitate financial inclusion.

She said the system was designed to be accessible to everyone, from small businesses to individuals.

The inclusion, she said, is crucial for bridging the financial gap and empowering communities.

Beyond the individual stories of transformation, she adds, PAPSS would instil a sense of unity in the diverse tapestry of West Africa.

According to hi, countries that were once isolated by financial borders will now find common ground in a shared payment infrastructure.

“It is not just about transactions; it’s about building bridges between nations. PAPSS is fostering a sense of unity among West African countries, encouraging collaboration in ways that were previously hindered by financial barriers,” Ibrahim said.

While PAPSS has undoubtedly made strides in addressing cross-border payment challenges, experts acknowledge that there are still hurdles to overcome.

Such hurdles include regulatory issues, cyber security concerns, and adapting to rapidly evolving technologies.

“The success of PAPSS relies on continuous collaboration and adaptability. Regulatory frameworks need to evolve to support this pan-African initiative, and stakeholders must remain vigilant against emerging threats in the digital landscape,” Karanja cautions. (NANFeature).

**If used please credit the writer and News Agency of Nigeria.

This report is produced under the DPI Africa Journalism Fellowship Programme of the Media Foundation for West Africa and Co-Develop.

A news analysis by Kayode Adebiyi, News Agency of Nigeria (NAN)

Public financial management implies the elements of budget cycles built around auditing, accounting and reporting, budget formulation, execution and performance.

Its main focus is economic and governance reform programmes for developing economies emphasising transparency, accountability, fiscal discipline, predictability with the purpose of strengthening public finances.

Experts say that for a continent grappling with poor infrastructure and low budget performance corruption, Africa needs increasing number of experts in public finance management.

To advance this course, African Development Institute (ADI) of the African Development Bank (AfDB) Group recently graduated the first cohort of trainees of its Public Finance Management Academy for Africa (PFMA).

The ADI is the AfDB’s focal point for capacity development support to member countries and it contributes to efforts to build sustainable capacity for institutional development effectiveness in the institution’s regional member countries.

The PFMA is an AfDB initiative aimed at providing comprehensive and structured capacity development in Public Financial Management to African countries.

The final phase of the executive training course on “Enhancing Accountability, Transparency, and Curbing Corruption and Illicit Financial Flows in Africa” took place from Dec. 11 to Dec. 13, 2023, which culminated in the graduation ceremony.

The programme brought together 145 public officials from 45 African countries and commenced in July 2022. 52 participants from 26 countries completed the programme and earned certification as Public Finance Management (PFM) experts in their respective nations.

According to the Public Finance Management Academy of the AfDB, it ran the course in collaboration with experts from the International Monetary Fund, the World Bank, and other related institutions.

The AfDB said in response to the challenges of Illicit Financial Flows (IFFs) money laundering, and terrorist financing, it developed several policy and strategic instruments.

These include its Policy on the Prevention of IFFs (2017) and the Action Plan for the Prevention of IFFS in Africa (2017-2021).

These policy and strategic instruments prioritise capacity building for African countries and regional economic communities (RECs) to effectively combat IFFs. Hence the establishment of the PFMA.

“Lack of accountability and transparency, corruption, and illicit financial flows (IFFs) create a vicious cycle of fiscal sinking holes in Africa’s public resources.

“As governments lose revenue to IFFs and corruption, they are forced to borrow, and the borrowed funds are in turn stolen because there are no measures to stop the outflow of public resources,” the bank said.

It believes that these challenges are primarily the result of fundamental public governance and structural weaknesses in African economies.

It also pointed out that part of the problems is a weak programme and project implementation capacity due to a critical skills gap and inadequate tools, as well as weak international cooperation efforts to curb corruption and IFFs.

The AfDB has also developed the Strategy for Economic Governance in Africa (SEGA), which highlights the importance of supporting countries in combating IFFs and money laundering.

The bank’s Chief Economist and Vice-President, Economic Governance and Knowledge, Kevin Urama, told the PFMA cohorts of trainees that the bank was committed to boosting fiscal discipline on the continent.

He said the strategic importance of PFM lies in enhancing economic governance and knowledge management to promote wealth creation and prudent management of public finances.

“Africa, despite its natural resource richness, often faces financial challenges due to mismanagement.

“Currently, African countries lose almost $90 billion in illicit financial flows annually, and much more in illicit resource flows and resource theft, poorly implemented fiscal policy incentives, and excessive dependence on commodity exports for foreign exchange earnings.

“This exposes countries to highly volatile global market prices and highly vulnerable supply chains. This situation is not acceptable,” he said.

Special Adviser to the President on Economic Affairs in the Office of the Vice President, Tope Fasua, said at the event that the AfDB’s efforts in responding to the public finance management needs must be sustained.

He also said the ADI has provided enhanced knowledge and capabilities among public officials working in critical sectors across the continent, which is hoped would improve financial responsibility.

In his valedictory speech, one of the PFMA graduates, Isaac Kurasha, reflected on the 18-month journey that began on March 2, 2022, and highlighted the rich experience and knowledge gained throughout the programme.

“The training enriched my understanding of the public financial management cycle, providing insights into various components,” he said. (NANFeatures)

**If used please credit the writer and News Agency of Nigeria