The fall of Saraki: Fate, providence or nemesis By Tochukwu Okorie

Date: 2016-05-09

Abubakar Bukola Saraki, Nigeria's Senate President is a man of caustic character who has sprawled the landscape of both the business and political world over the last couple of decades. Saraki is well appointed, given his blue-blooded background. He had had a sterling education in Ivy League schools starting from Kings College in Lagos, Nigeria to Cheltenham College, Cheltenham London. He had also studied at the London Hospital Medical College of the University of London where he obtained his M.B.B.S.

His father Olusola Saraki, himself also a medical doctor, led a formidable political network that made him the all time god-father of Kwara politics. Oloye, as he was popularly called was not a mere political heavy weight, he was also a man of means. He owned Societe Generale Bank of Nigeria (SGBN).Bukola's tenure as Managing Director of his father's bank ex-posed the weak side of the voluptuously ambitious young man.

It suffices to note that Societe Generale kissed the dust under his leadership leaving thousands of customers and shareholders stranded.Saraki's political career began with his appointment as Special Assistant Budget to President Olusegun Obasanjo in 2000. It was from that vantage position he took a shot at the governor-ship seat in Kwara State and won. He subsequently won a second tenure.His emergence as governor of Kwara State was predictable. Every administration in Kwara since the days of Adamu Attah had Bukola's father's imprimatur.

Oloye had established an un-disputed political supremacy in Kwara such that at a time when it was near impossible to have per-sons from same senatorial zone contesting, least of all winning elective positions at the same time, Bukola was governor while his younger sister Gbemi was Senator. So powerful was their father's dynasty.In 2003 when he became governor, the law required Saraki to declare all his assets and liabili-ties truthfully. It does appear that in doing so Saraki had mapped in some choice properties in which he had only anticipatory interest.

He is now being accused of using funds belonging to Kwara people to eventually acquire those properties.Whatever heist Saraki might have committed as governor might have gone undetected or perhaps unquestioned or even forgiven had nemesis not pushed him to overreach himself in his quest for more. Nemesis, not just in respect of his apparent sins against Kwara people but more in respect of his role in the forceful takeover of Intercontinental and Oceanic banks by the Central Bank of Nigeria and subsequent sale of same to cronies of the Senate President.

One of the outstanding features of Bukola's tenure as governor was his emergence as the Chairman of the newly formed Governors forum of Nigeria, a group whose primary goal was peer review. As it turned out, the Nigeria's Governors' Forum became the ultimate political and economic Kingmaker as every Nigerian President since its formation has been visibly shaken, flustered by the schemes of the forum.

Saraki was still on saddle as chairman of this forum when the tenure of Chukwuma Soludo as governor of Nigeria's Central Bank elapsed and fell due for renewal.It was said that Dr. Bukola immediately saw an opportunity to take his pound of flesh from long-standing business "enemies" and competitors who he probably considered instrumental to his woeful failure as a banker.

In a deft move characteristic of Saraki, he was said to have used his enormous influence as Chair-man of Governors Forum to block Soludo's re-appointment. In his place, Saraki impressed on President Yar'Adua to appoint Sanusi Lamido Sanusi, his former Kings College mate and then Managing Director of First Bank.

Yar'Adua had no forebodings acquiescing to Saraki's wishes especially given that the President was also inter-ested in introducing Islamic bank-ing, a subject Sanusi was said to have been well versed in. Sanusi was appointed accordingly.

Subsequently, in a letter ad-dressed to President Goodluck Jonathan, Erastus Akingbola, ousted Managing Director of now defunct Intercontinental Bank Plc, alleged that Saraki considered him (Akingbola) and Cecilia Ibru, then Managing Director of (now de-funct) Oceanic Bank Plc as his bitterest enemies following his failed bid to resuscitate SGBN through merger arrangements with either Intercontinental or Oceanic.The letter went on to give graphichttps://ilorin.info:2083/cpsess8310982899/3rdparty/phpMyAdmin/tbl_operations.php?db=ilorin_info&table=news&token=15629c655e954a2a49d93b728d4ec0cb details of how Saraki plotted the forceful takeover of both Intercontinental and Oceanic banks, which belonged to the duo of Akingbola and Ibru respectively.

Apart from his bitterness over Akingbola's refusal to merge with SGBN after it was discovered that the later was insolvent, Saraki was also determined to circumvent his indebtedness to Intercontinental bank which stood at N8.115 billion and which he had secured with choice properties in Ikoyi, Victoria Island and Abuja. Had the takeover of Intercontinental not happened, Saraki was certain to lose those properties to the bank.

Is it sheer twist of fate that some of these properties are today the subject of inquiry by the Code of Conduct Tribunal in which Bu-kola Saraki is standing trial over alleged criminal breach of the law?Saraki, a two-time Senator machinated his way to becom-ing President of Nigeria's Senate to the chagrin of the leadership of his political party, the All Pro-gressive Congress (APC).

Saraki had rebuffed all entreaties by the APC leadership to allow the par-ty-anointed Ahmed Lawan to take up the position. Informed sources said he was offered "juicy" ministerial slot in compensation. Saraki was in no mood for ministerial shenanigans. He kept a straight face, focused on the zenith of political achievements in Nigeria. Saraki's dye-in-the-wool sup-porters argue that he had made enough sacrifices for the party to earn his seat as Senate President and number three man in protocol. He also absolves himself of all blame, accusing the self-styled APC National Leader and the Jagaban of Borgu, Bola Ahmed Tinubu of being his main traducer for opposing his Vice-Presidential ambition during the APC primaries.

Recall it was the same Bukola Saraki that had led the onslaught that put the nail on the coffin la-beled PDP long before the 2015 general elections. He led 4 other governors, then of the PDP, in a landmark but rather treacherous defection to the APC. This was after they had midwifed the in-ternal crisis that created the at-mosphere for their defection in the first place. Saraki's notoriety as a political Machiavellian is unprecedented. Those who know him closely in-sist that Bukola has had his eyes glued to the presidency of Nigeria since his days in medical school and would give whatever it takes to get there. His antics leading to his emergence as Senate President lends much credence to that. Some insiders believe that it is this unconcealed ambition rather than his slight and insolence to the ranks of APC or his opposition to a Muslim-Muslim ticket that is stoking his troubles. As 2019 races closer, gladiators are already taking positions.

Saraki's position as Senate President is strategic, too strategic to be ignored in the 2019 permutations especially considering the capacity of that office to enthrall the presidency. Saraki as Senate President is capable of throwing spanner in the 2019 works for Muhammadu Buhari who is already being "pushed" by powerful forces to run for a second term.Observers believe that Saraki's presidential ambition is the reason his conciliatory dis-position towards his party and the President has been largely unproductive, rebuffed by the party leadership. Nothing short of his relinquishing the presidency of the Senate can guarantee any soft landing for him. It appears he is truly headed for a certain precipice and his fall is inevitable. Already, a lot of rumbles could be heard coming out of the hallowed chambers as various interests jostle for a takeover.

The People's Democratic Party (PDP) caucus in the Senate is already counting its blessings as the mantle naturally falls on one its own, Ike Ekweremadu, Deputy Senate President, to lead the Senate in the event of Saraki's eventual ouster. Interestingly, Saraki was actually propelled to the seat by what critics call an unholy alliance between him and his 'home' boys in the PDP. As Bukola Saraki's fall from the political pinnacle built by his father becomes increasingly imminent. Nigerians are asking, "Is it fate, providence or simply nemesis?"

*Okorie is a public affairs commentator and can be reached viatoksokorie@yahoo.

Source

 


Cloud Tag: What's trending

Click on a word/phrase to read more about it.

Saidu Isa     Towoju     Toyosi Thomas     Ayinde Oyepitan     Tsaragi     Yusuf Babatunde Abdulwahab     Mopelola Abdulmaliq-Bashir     NSCIA     Junior Secondary School Certificate Examinations     Sayomi     Isiaq Khadeejah     Barakat Community Secondary School     Quareeb     Mumini Ishola Hanafi     Abdulrasheed Na\'Allah     Gbemi Saraki     Ahmad Lawan     Kwara Apc     Ubandawaki     Maimunat Oloriegbe     Muslim Media Watch Group Of Nigeria     Lithium     University Road     Umar Bayo Abdulwahab     Elesie Of Esie     National Party Of Nigeria     Mahmud Babatunde Baker     Umar Sanda Yusuf     Seun Bolaji     Oladimeji Thompson     Saliu Tunde Bello     Abdulrasheed Akogun     Ayodele Shittu     Idowu Laro     Ajibola Ademola Julius     Marafan Shonga     Abdulrazaq Solihudeen     Standard Organization Of Nigeria     Na\'Allah     Ogidi-Oloje     AbdulRazaq Jiddah     Sheikh Ridhwanullah     Yusuf Lawal     Bolakale Ayo     Patigi Regatta     Islamiya Abdulraheem     Aminu Adisa Logun     Oko-Erin     Orisun Igbomina     Kola Shittu     Pategi     Centre For Digital Economy     Odolaye Aremu     Yakub Ali-Agan     Awwal Jawondo     Okin High School     Sanusi Abubakar     Kwara State Infrastructure Development Fund     JMK Construction Company Limited     Haliru Dantoro     Ndama Al-hassan     Bayo Lawal     Kwara     Ishaq Oloyede     Olaiya Zuberu     Al-Ilory     Abdulmumini Sanni Jawondo     Women For Change And Development Initiative     Ilorin Water Reticulation     Khadijat Ayoola Yusuf     Ronke Adeyemi     Aliyu Muhammed     Abdulkadri Ahmad Alaiye     Share/Tsaragi     Kwara State Branch Of The National Library     Razaq Ayobami Akanbi     Fatai Olodo    

Cloud Tag: What's trending

Click on a word/phrase to read more about it.

Abdullahi G. Mohammad     Bola Sagaya     Eleja Taiwo Banu     Mufti Of Ilorin     Abdulhakeem Amao     Kwara-SAPZ Project     Isiaka Saka Opobiyi     Saeedat Aliyu     Towoju     Okeose Christian Cementary     Marufat Oladosu     Lawal Olohungbebe     Ayo Adeyemi     Ayobami Akanbi     Bilikis Oladimeji     Modibo Kawu     Grillo     Chief Imam Of Offa     Wahab Olasupo Egbewole     Saadu Gbogbo Iwe     T And K FOODS     Arandun     Ibrahim Taiwo     Edret Sabi Abel     YAKOOYO     Kunle Okeowo     Sardauna Of Ilorin     Ibikunle Ogunleye     KWASIEC     Raliat Islamic Foundation     Isaac Gbenle     Stephen Fasakin     Gbugbu     Abdulrasheed Na\'Allah     Council Of The Wise     Ambassador Kayode Laro     Joseph Alex Offorjama     Kisra     Abdulrasaq Alaro     Ibrahim Issa Jetti     Ojuekun     Aliyu Salihu     Oluwatoyin Lukman     Issa Oloruntogun     Elewu     Ibrahim Mashood     Makama     Police Commissioner     Ilorin South     Assayomo     Bello Abubakar     AbdulHakeem Ajibola Akanbi     Aisha Abodunrin Ibrahim     Dauda Adeniran Adeshola     Gbemisola Oguntimehin     Yusuf A. Usman     Federal Neuro-Psychiatric Hospital     Tanke Road     Mahee Abdulkadir     Sheriff Shagaya     Ariyo     Muritala Olarewaju     MAI Akande     Olabimpe Olani     Olushola Saraki     Valsolar Consortium     Mary Arinde     Valsolar     Ilofa     Raji AbdulRasaq     Osuwa     Abdullah Janet Amudat     Wole Oke     Offa Descendants Union     M.Y. Abdulrahaman     Ballah     Saliu Mustapha