Connect with us

Feature

UBA and Tony’s Dissonance: Trying Out Slings In Own Glass House

Published

on

By Ben Adenle

In what seem to be a real-life play out of Leon Festinger’s law of cognitive dissonance, the imperial cowboy of banking, Tony Elumelu, took a swine to the family’s dinner table with his viral tweet about governance and Nigeria’s economic realities. The post that has garnered over 20,000 seem to identify with critical concerns of the common man and topical issues on the state of the nation, while subtly positing bankable solutions.

Fact is, this sort of ‘wailing’ is not uncommon in Nigeria’s discussion forums, both formal and informal, online or offline. In fact, armchair analysts and newsstand commentators have more articulate positions on the why and where we are, when and what we should do to realise the elusive generational wish for a better Nigeria.

What strikes differently on this one is the handle from which the tweet emanated, ringing a voice from one of the princes of organised private sector, Heirs Holding’s chairman, Elumelu. An average Nigerian can relate with the real Nigeria, but for a first class citizen of this nation, who is living the American dream in a virtualised version of Nigeria to communicate that reality in a public space is often accepted with a pinch of salt.

Advertisement

It is therefore not strange that a few commentators came after the altruistic billionaire, questioning his moral authority and even motive for slinging against The Establishment.

Indeed in Nigeria there is The Establishment. No one nation is entirely run by the political office holders. There is often a tailored arrangement with money bags in persons of super-wealthy businessmen to draft the course of the nation’s sail. These two sects make up the 1% of the society and they determine the fate of the rest 99%. In political economic parlance, this bourgeoisie, control the factors of production and in a very unscrupulous nation like ours, often purchase authority for impunity and unperturbed avarice.

ALSO READ  MKH Investment's staff celebrate founder's mum at 66

Tony Elumulu is star of the 1990 banking renaissance; famed for rising to the pinnacle of his career as a young man with almost zero pedigree, who through sheer hard-work, intelligence and diligence built a reputation for results. He moved on to building a successful global financial services conglomerate in record time. Who else could be more credible to echo down the mic – REPENT?

We know you: If you cue from public narratives, you would join the bandwagon that praised “his courage to speak truth to power with his tweet”. But when you match precedence against this his lonely opinion, one cannot but see the nudity of the well dressed outburst beyond the words.

Elumelu is a known friend of the so-called political class. He banks them, parties with them, help them plan their investments and even provide financial vehicles to help them achieve their goals. An average Joe does not have access to those Tony called out. Same people that are only a dial away. So it amounts to grandstanding if suddenly he joins the wailing rather than address the tormentors by delineating between his core business and political romanticising.

Advertisement

Take out the log in your own eyes: Let us not mention the numerous allegations of excessive charges that adds up to accentuate Tony’s billionaire status in the book of UBA Group. Of course, the repressed customers, who also battle with poor services (technical issues and largely unresolved customer complaint)s in the hand of UBA, make up the majority of the group known as the common man. The ones who are experiencing the reality of the nearly-failed Nigerian state, and not the ‘fly boys’ in red ties colleagues of Tony’s, that probably woke up to pinch of the people’s suffering because of the hike in diesel prices. That the concern is the hike in the price of diesel alone, gives them up as a member of the colluding middle class, who live princely lives in the face of despondence in the nation, because they are privy to the crumbs of the thieving politicians of our nation. Maybe this is a good point to tell Mr Tony to have his boys make UBA Mobile App work for once; provide enough infrastructure to carry your month-end data throughputs, so that your customers won’t continue to live with the epileptic services of surge transaction periods. If it’s beyond you, mobilise your fellow big bank boys to get NIBSS to fix up!

ALSO READ  Breaking: Lagos Assembly to hold public hearing on land grabbing

Taking a further delve into Tony’s tweet, it reads more like a businessman cry than a genuine outburst against the retrogression of our nation. In a world with growing case of Excessive Wealth Disorder, it is not strange to find the super-wealthy businessmen coming after The Establishment that they belong to, as a strategy to fish far-fetched opportunities.

The Russian-Ukrainian war provides a great opportunity for eruptive profits accumulated for major oil players in alternative markets. Tony’s Heirs Holding in early 2021 splashed $1.1billion in the acquisition of OML 17 from Shell, ENI and Total, definitely with a view of turning around its fortune and making tremendous profits. The current state of the global energy market presents an opportunity to recoup their investment. Of course, Elumelu will be enraged that insecurity around our waterways is not making this happen. In same vein, Transcorp (one of his babies) is a very major power generation investment company in Nigeria, with 2,000 MW of installed capacity, through ownership of Transcorp Power Plant and the recent acquisition of Afam Power Plc.

Let us align this fact with reports in recent news that GenCos have attributed low electricity generation to the National Grid to the N1.644 trillion owed them by the Nigerian Bulk Electricity Trading Plc. Tony’s investment in this industry is experiencing same fate the average Nigerian daily face, so there’s suddenly a need to “Demand and advocate for leaders that deliver”.

Juxtaposing his business interests and the core of the concern raised in his tweet – Electricity and Oil production, it becomes crystal clear why this prince of corporate Nigeria chose to have a village square dance. It’s more of the case of ‘the rich also cries’ and less of a compassionate plea for the plight of the common man.

Advertisement
ALSO READ  Elumelu says strong insurance sector foundation for strong Nigeria

Festinger’s cognitive dissonance theory concludes that: First, if a person is induced to do or say something which is contrary to his private opinion, there will be a tendency for him to change his opinion so as to bring it into correspondence with what he has done or said.

I make bold to say that Mr Elumelu will in no distant time align his real private opinion with the narratives of the political class in the build up to this election. By action not words, he will once again show us all on which side he truly belongs – with the common man, or The Establishment?

Continue Reading
Advertisement
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Education

Yeye Adesola Oyinloye-Ndu adds her voice to the on-going discussion on bullying prevention in Schools

Published

on

Yeye Adesola is a renowned Anti-Bullying advocate of over 10 years. She has held workshops in schools to curb Bullying.
She has helped teachers and parents to understand bullying, identify bullies how to help bullies and the bullied, and discourage by-standers

Yeye Adesola has finally broken her silence on the Bullying incident at the British Lead school, Abuja at a Zoom meeting that she organised on the 1st of May that attracted over 91 Parents and school owners

She defined bullying at the Zoom event as the deliberate intimidation and persecution of those perceived as weaker.

Yeye Adesola identified the various types of bullies to be homegrown, underachieving, sadistic, anxious, and reactive bullies.

Bullies can go after anyone for any reason that may make their targets different. These targets are known as victims she said.

It could be due to their size, tribe, quiet disposition, height, disabilities, etc

There is always an imbalance of power of some sort in incidents of bullying. It could be in strength, emotional control social status, etc she said.

Bullies are not as strong as they present themselves she said. Many are dealing with unhealthy self-esteem and they need help. Hence, their victims are not the problem but the Bullies

Bullying could be Physical, Emotional, Sexual, Tribal or Racial, Verbal Cyber, etc.

Speaking on the recent incident of bullying at the British Lead School, she advised that every school should have an Anti-Bullying policy and procedures in school, an exercise that she has done over the years with schools, and she advocates that the government should enact a law in this regard so that non-compliance will no longer be tolerated.

ALSO READ  Diesel price hits N650 per litre leaves business crumbling

Yeye Adesola applauded the calm disposition of the girl who was slapped by her mate as in her opinion, it is the best reaction that the girl could have put up under that circumstance, otherwise, she may have been more harmed by her assailant or the the bystanders if she tried to run away or beat the other girl back.
She may have hurt the other girl too!

It may look like an expensive exercise to curb bullying in school but a single incident of bullying may cost more to the school and its reputation, she said.

Bullying and harassment in the workplace are as equally prevalent as Bullying in Schools. These should be addressed as well Yeye Adesola noted.

Yeye Adesola can be reached by email at yeyeoba.adesola@gmail.com
Or WhatsApp +2349037330934

Continue Reading

Feature

Concerns raised over whereabouts of security expert, Otunba Adejare Adegbenro

Published

on

Concerns have arisen regarding the whereabouts of Amb. Dr. Otunba Adejare Adegbenro, a prominent Nigerian diplomat and security expert.

Amb. Adegbenro, known for his contributions to national security and international diplomacy, has reportedly gone missing after honoring a police invitation on April 26, 2024.

The Coalition of Civil Society Networks (CCSN), in collaboration with the International Human Rights Commission (IHRC), has raised alarm over his sudden disappearance.

According to information gathered from the management of NATCOM, Amb. Adegbenro was called by the Special Weapon and Tactics Team (SWAT) of the Nigeria Police Force to respond to a petition.

However, since his appearance, there has been no communication from him, and his family and associates have been unable to locate him.

Despite rumours of his release on April 29, 2024, his whereabouts remain unknown, with his phone unreachable.

Expressing concern over the situation, it is highlighted that Amb. Adegbenro holds a significant role as a Special Emissary of the International Society of Diplomats (ISD) and has been instrumental in fostering collaborations between Nigerian security agencies and international organizations like the EuroPolice Federation.

Citing the Vienna Convention on Diplomatic Relations (1961), a signatory to by Nigeria, calls have been made to President Bola Ahmed Tinubu and Inspector General of Police Kayode Egbetokun for transparency and adherence to due process in Amb. Adegbenro’s case.

The CCSN/OHC-IHRC NG emphasizes the importance of upholding human rights and the rule of law, urging authorities to provide clarity on his situation.

The statement further appeals to Nigerian authorities for intervention, stressing the necessity of a thorough investigation into the allegations against Amb. Adegbenro.

ALSO READ  Onwukaeme pitches for hosting next WOO Africa forum in Nigeria as WOO president outlines 6 growth factor for industry

Justice and accountability are deemed essential in addressing the situation effectively.

Continue Reading

Celebrities

After successful London premiere, Aiyefele Movie to screen in all major cinemas across lagos from May 3rd (Photos)

Published

on

On Friday 5th April 2024, Double Tees Productions premiered and screened the movie Aiyefele at the iconic Odeon Imac Cinema in Greenwich London.

The premiere red carpet was graced by hosts of Nollywood celebrities, from one of the lead actors Biola Adebayo, Bimbo Oshin. To celebrity guests Rykado Agbor and a host of others.

Aiyefele Movie (A Community on the Brink) is a riveting feature film that follows the journey of a community always on the brink of desolation; it struggles to find a cure for the plague killing its citizens as its beliefs and practices conflict with the new faith brought by missionaries. The people are threatened by a self-destructive culture,
assaulted by an endemic disease and oppressed by some evil forces until an unexpected visitor arrives to lead them from the drumbeats of sorrow to a vibrant tune of freedom.

Aiyefele features a respected ensemble cast in the industry, including Odun Adekola, Mercy Aigbe, Femi Branch, Bimbo Oshin, Biola Adebayo, Rotimi Salami, Lara Aiyeomoni and Akinola Akano. It is directed by
the award-winning Seun Olaiya.

Set in 18th Century Nigeria and England, Aiyefele takes its audiences on an emotional journey of sacrifice, reflection, and redemption.
Executive Producers are Toyin Moore and Omotayo Utomi.

Feedback from the Premiere in London has been hugely positive, with the audience describing the movie as interesting, funny, emotional, with a wow effect and an immersive experience.

AIYEFELE Movie will be showing at Bluepictures cinema in City Mall Lagos from Friday 3rd May 2024.

Check out pictures from the London Premiere below.

ALSO READ  Onwukaeme pitches for hosting next WOO Africa forum in Nigeria as WOO president outlines 6 growth factor for industry

 

OMP

 

OMP

OMP

OMP

OMP

Continue Reading

Trending

Copyright © 2022 TheHeute.