Politics of 2019 Heats up Battle for APC Chair

Buhari in a handshake with the National Chairman of his party, Chief John Odigie-Oyegun.

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• Party’s NWC meets to empanel c’ttee on tenure elongation
• How Banire, Akeredolu faulted objection raised by Buhari

Onyebuchi Ezigbo in Abuja

With the 2019 elections barely a year away, high stakes politicking have taken centre stage at the ruling All Progressives Congress (APC), where President Muhammadu Buhari has aligned with the National Leader of the party, Chief Bola Tinubu, against most of the governors and other critical stakeholders of the party who are in support of the tenure extension granted to the elected and appointed executives of the APC at all levels at its February National Executive Committee (NEC) meeting.

At stake is the national chairmanship post of the APC currently occupied by Chief John APC Chair. But with Buhari’s sudden rejection of the tenure elongation for Oyegun and other executives, the jostling over who emerges as the next chairman of the party will be critical to the governors, especially those seeking a second term in office.

Buhari had at the NEC meeting of the party on Tuesday raised objections to the one-year tenure extension approved for the executives at the February NEC meeting.

He counselled that doing so would be in breach of the Nigerian Constitution and that of the APC, which could lead to endless litigations in the run up to the 2019 elections.

His stance on the issue, however, did not go down well with many members of the NWC and most governors of the party.

The party, nonetheless, said on Tuesday that it would set up a committee to review the position of the party on the tenure extension, adding that until the committee concludes its work, the party would maintain status quo.
A source, who shed light on the stakes at play, informed THISDAY that whilst there is a consensus on Buhari’s bid and his emergence as the party’s presidential candidate for the 2019 elections, the governors, especially, would have preferred for the status quo to remain with Oyegun steering the affairs of the APC for one extra year.

According to a source, “We had a reason for our decision at our February NEC meeting, the main one being that holding congresses and a convention at the state and national levels could lead to crises and divisions that we can ill-afford with the elections round the corner.

“Besides, the governors, particularly those seeking second terms, were already comfortable with the leadership of the party headed by Oyegun and were more confident of winning their primaries with him in control.

“But with Buhari’s sudden change of heart, everything has been thrown up in the air and that it is why the Tuesday NEC meeting was stormy after he raised his objection to the tenure elongation for Oyegun and others.”
The source also pointed out that Buhari’s insistence on the conduct of congresses and the convention stemmed from his desire to ensure that Tinubu is on his side in 2019 because of the latter’s control over Lagos.

He also pointed to the president’s acceptance to chair the 10th Bola Tinubu Colloquium slated to hold in Lagos Thursday and the two-day visit to the state as pointers on how keen Buhari is at ensuring that Tinubu delivers Nigeria’s commercial nerve centre in 2019.

“The president wants to ensure that the 2015 electoral map does not change in 2019. He is probably sure of winning most of the states in the South-west, but Lagos is the icing on the cake in terms of electoral value because of its population size.

“So, if the president can hold on to Lagos and Kano in 2019, he would be more certain of victory. Whereas he is certain of Abdullahi Ganduje’s loyalty and in delivering Kano, he can only get Lagos in his pocket if he meets Tinubu’s demands,” he said.

The source, however, expressed concern that by kowtowing to Tinubu’s demands, Buhari will be literally handing over the party’s structures to the former Lagos State governor who in turn may influence the person who emerges as the chairman of the APC at the convention.

“It is this uncertainty that the governors do not want because should we backtrack on the tenure elongation for Oyegun and others, Tinubu will be very influential at the convention and may become the deciding factor on who will lead the party.

“Effectively, this will mean that Tinubu may indirectly decide the fate of those who should get a second term ticket and those who should not,” he said.

But even as the party’s stakeholders weighed the options before them, the national leadership of the APC moved Wednesday to douse the tension created by Buhari’s rejection of the tenure extension for its executives.
In this regard, the National Working Committee (NWC) of the party together with some party leaders met Wednesday night to empanel the committee that will consider the pros and cons of the issues in contention and advise the party accordingly.

According to party sources, the meeting was convened to decide on the membership of the committee and the mandate for its members.

THISDAY gathered from a reliable source that the meeting, which took place at an undisclosed location in Abuja, was meant to nominate members for the committee as well as set out its terms of reference.

The source said that the party’s National Legal Adviser, Mr. Muiz Banire, would most likely be on the committee that will consider the pros and cons of the issues in contention and advise the NEC accordingly.

He said other members of the committee would be drawn from outside the NWC to ensure their neutrality.
“We are still consulting, a lot of consultations are still going on, so hopefully we will be able to get it right,” he said.
Another member of the party, who was at the Tuesday NEC meeting, also provided insight into the hot exchanges that took place between those who were in support of and against the tenure extension after Buhari had spoken.
He revealed that Buhari’s move to upturn the tenure extension was met with a mass and open protest.

The source said that it took the intervention of Oyegun who hurriedly ended the heated exchange, and went ahead to adjourn the meeting indefinitely when it became clear that those present were going to overrule the president’s stance on the tenure quagmire.

The source further disclosed that Banire had faulted and tactfully dismissed the constitutional issues raised by the president on the tenure extension approved by NEC on the grounds that the extension did not confer substantive status on the executives, as they will be serving in acting capacities for 12 months.
Banire was said to have argued that NEC derived the power to make the decision from Section 13.3 of the party’s constitution.

The source also quoted Banire as having said that the president’s decision on the tenure extension was sub judice, as the matter was already before the courts.

In the same vein, the source explained that the Ondo State Governor, Rotimi Akeredolu (SAN), who adopted Banire’s legal position, went ahead to remind the meeting of the logistical and political exigencies that informed NEC’s decision to extend the tenure of the party’s executives by 12 months, by a vote of 104 in support and four against.
The source further said that the Chief Whip of the House of Representatives, Alhassan Doguwa, called on the NEC members to stop the debate and adopt the president’s decision in deference to the president but was shouted down.

However, before the hurried adjournment, Oyegun was said to have informed the NEC meeting that a “compact and small committee” will be urgently set up to advise the party on the objection raised by the president.

The source said Oyegun suggested that the committee would meet at an undisclosed venue outside the party’s national secretariat, a decision that was approved by NEC.

Culled from Thisday

Post-Divorce Money Tips to Prepare for the Next Stage in Life

Are you ready to manage your life post-divorce? Here are ways to make sure that you get off to a good start financially.

AAP Exclusive: Cramer on How to Balance Your Portfolio

By Cindy Turkington
The divorce papers have been signed and you are now single, over the age of 50, and completely in charge of your finances. Depending on whether you were involved in your family's finances while you were married, you are probably either feeling confident about your financial situation, completely terrified or somewhere in between.
Regardless of where you fall on the readiness spectrum for you to manage your life post-divorce, you want to make sure that you get off to a good start financially.
As a financial planner who works with a lot of divorce clients over the age of 50, I find they want to know where they stand financially so they can feel good as they start to move forward with their new life. Often, it becomes apparent that people aren't sure about what they need to do once their divorce is finalized.
If you are over the age of 50 and starting the journey after the divorce process, it's essential to educate yourself and get organized. Quite a few things need your attention now. The list starts here.
Health insurance: If you are planning to stay on your ex-spouse's company health insurance plan through COBRA, you need to complete the paperwork within 60 days or you may not be able to stay on their plan. Group health insurance plans typically have better benefits than individual plans that you can purchase on the open market. When you divorce, you can elect COBRA coverage for up to 36 months.
Post-divorce budget: You likely put together a budget during the divorce process, so it's a good idea to revisit your budget to review the expenses you initially listed and compare them to what your actual expenses are going to be going forward. This is probably one of the most important tasks you should do post-divorce to ensure that your budget matches your income. If you don't know what your actual expenses are each month and you overspend, your chances of running out of money are going to increase.
Update your estate plan: You will need to get an updated will, health-care directive and Power of Attorney. These are very important documents for you to either establish if you don't currently have them, or to update them. Having a will allows you to decide how your assets are distributed after you die vs. having the court system decide. Other benefits of having a will include helping to minimize estate taxes, and it gives you the ability to create a testamentary trust, which is necessary if you have minor children. You can choose to disinherit family members who would otherwise stand to inherit your estate if you died without a will. You can also choose to give money to your favorite charity or religious organization.
A healthcare directive is a written document that outlines your healthcare wishes if you become unable to make your own decisions. You are also able to name another person to make those decisions for you and for them to follow your wishes outlined in the directive.
A Power of Attorney gives another party the ability to make decisions on your behalf if you become incapacitated or unable to make your own decisions.
Read: My Stepmother Stole My Inheritance
Beneficiary changes: It's also important to update the beneficiaries to your company retirement plan, pension plan, IRA accounts, and life insurance policies. Most individuals probably wouldn't want their ex-spouse to inherit their money or proceeds to their life insurance policy (unless your decree states that the spouse is to remain the beneficiary).
Review your divorce decree: It's important for you to know the terms of your divorce decree to ensure that your assets are divided as directed. It's a good idea to make a list of the investments and property included in the settlement and continue to monitor the progress of any asset transfers until they are completed. Here's a list of common investment accounts, property and other items you need to review:

• If you have any joint checking, savings, or investment accounts, close joint accounts and open an individual account. Complete account transfers as directed in your decree.
• If you are to receive money from your spouse's qualified retirement plan, your attorney will draft a Qualified Domestic Relations Order (QDRO) to complete the transfer. The definition of a QDRO provided by the IRS is as follows: A QDRO is a judgment, decree or order for a retirement plan to pay child support, alimony or marital property rights to a spouse, former spouse, child or other dependent of a participant. An individual receiving money under a QDRO can roll over all or part of the distribution they receive tax-free to an IRA account in their name.
• If one party is keeping the family home, review the specifics stated in your decree. You may need to close home equity lines of credit or remove your spouse from the mortgage and/or title.
• Other personal property includes vehicles, motorcycles, boats, trailers, etc. Review the titles for each item and have your spouse removed if you were solely awarded the property. Otherwise, if you don't complete this task, when you or your spouse want to sell personal property that still has both spouses listed on the title, each of you will need to be involved in the transaction. This can not only be inconvenient, but could also bring up painful memories for some, even if many years have passed since your divorce.
• If there are any 529 Plan accounts and you are not listed as the account owner, be sure to monitor the accounts. Ask for copies of the statements to see what additions or withdrawals are being made. Hopefully your divorce decree directed how any unused funds in these accounts would be divided after your children are finished attending college.
• Stay on top of proceeds to be received from businesses, notes, stock options and restricted stock units (RSUs) that may be received months or even years after your divorce. Mark your calendar and ask for regular updates on these items.

Name changes: If you are planning to change your name after your divorce, if there are going to be any asset or property transfers, it's a good idea to wait until all the transfers have been completed. Account transfers can be a bit of a challenge under normal circumstances so introducing another name can complicate and delay the account transfer process.

Potential Tax Ramifications due to Divorce

There are things to be aware of to avoid an unexpected tax bill at the end of the year. If you are receiving spousal support, you need to account for taxes. Find a Certified Public Accountant (CPA) to help you estimate the taxes you will pay on the spousal support that you receive. I found it interesting that most of the divorcees that I have worked had spouses who prepared their taxes themselves. Regardless of the complexity of your tax situation, if you have never filed a tax return and have little interest in doing so, it will be money well spent to hire a CPA to prepare your taxes every year.
Additionally, if you are receiving a taxable, non-retirement investment account as part of your divorce settlement, be sure to review each investment in the account to estimate the unrealized capital gains or losses in the account. This will help you make smart decisions when you need cash or want to rebalance the account to an investment allocation that matches your risk tolerance, age, and goals.
If you have retirement accounts, such as a Traditional IRA, 401(k) or other type of retirement plan, you need to be aware of how withdrawals from these types of accounts are handled. If you are under the age of 59½ and want to begin taking withdrawals from the account, the money withdrawn will be taxed at federal and state income tax rates, along with a 10% penalty. If you are over the age of 59½, you only pay federal and state income taxes. Typically, it's best to have the taxes withheld at the time you take the withdrawal.
However, there is a provision under Section 72(t) of the Internal Revenue Code that eliminates the 10% penalty for withdrawals from a company sponsored retirement plan prior to age 59½ when withdrawals are after divorce. The QDRO drafted by the attorney needs to specify what portion of the amount to be transferred will go into an IRA account and what portion will be paid to the recipient in cash. It's important to review the plan sponsor's rules to be certain this type of transfer is permitted. Section 72(t) cannot be used with IRA accounts. This election can be very helpful when most assets are held in retirement accounts and one party needs cash.

When You Need Help Handling Investments

If you are lacking the expertise to manage investments or have little interest in this area, you should look to hire a professional for help. A Certified Financial Planner Professional (CFP) can help you manage your investments to ensure that you are invested properly for your age, risk tolerance, financial situation and goals. A CFP can also work with you to develop a financial plan to confirm that your spending, investment allocation, and goals are working together so you can live the best life possible with the money you have.
One of the primary benefits in having a financial plan is that it creates a roadmap to see where you are now and then makes a path to get you to where you would like to be in the future. A financial plan also helps you review and coordinate all aspects of your finances. To find a Certified Financial Planner Professional in your area, go to www.letsmakeaplan.org and enter your city, state or zip code on the landing page.

Know About Social Security Benefits

Your Social Security benefit is calculated based on your average indexed monthly earnings during the 35 years in which you earned the most. However, if you are divorced and were married for 10 years or longer, you are also eligible to receive benefits based on your ex-spouse's record. If you receive benefits based on your ex-spouse's benefits, your benefit is equal to half of your ex-spouse's benefit at your full retirement age.
If you are eligible to receive benefits based on your own record as well, your benefit amount will be the higher of the two benefits. The benefit you receive has no effect on your ex-spouse's benefit.
For more information regarding Social Security benefits, check out the Social Security Administration's website.
A divorce will likely be the largest financial transaction that a person will experience during their lifetime. If you or someone you know is nearing retirement and planning to divorce, it's essential to make informed decisions during and after a divorce because the choices you make will impact both your short-term and long-term financial future. Along with hiring a good family law attorney, a Certified Divorce Financial Analyst (CDFA) can help you fully evaluate the long-term effects of the decisions you make during and after the divorce process and provide valuable information on the financial issues related to divorce.
Culled from the street.com in yahoo finance

 

 

 

Don’t contest in 2019, Obasanjo warns Buhari

By Muyiwa Adeyemi (Ibadan), Azimazi Momoh Jimoh, Adamu Abuh, Terhemba Daka and Kingsley Jeremiah (Abuja) Seye Olumide (Lagos), Charles Coffie Gyamfi (Abeokuta) and Emmanuel Ande (Yola) 

President Muhammadu Buhari right welcoming Asiwaju Bola Ahmed Tinubu and APC former Chairman Chief Bisi Akande to the close door meeting at the State House Abuja yesterday….Photos:Phillip Ojisua .

• PDP, others concur, presidency, APC silent
• Aso Rock in secret talks with Tinubu, Akande
• Crisis hits CAN over alleged 2019 endorsement Former President Olusegun Obasanjo, yesterday, warned President Muhammadu Buhari not to seek re-election in the 2019 polls.He urged the incumbent not to “over push his luck” or “over tax the patience and tolerance of Nigerians, no matter what his self-serving, so-called advisers” say.
Obasanjo also cautioned that the factors that made Nigerians vote out Buhari’s predecessor, Goodluck Jonathan, was again at play.
In a letter titled, ‘The Way Out: A Clarion Call For Coalition For Nigeria Movement’, he maintained that Buhari needed a “dignified and honourable dismount from the horse. He needs to have time to reflect, refurbish physically and recoup. And after appropriate rest, once again, join the stock of Nigerian leaders whose experience, influence, wisdom and outreach can be deployed on the sidelines for the good of the country.”
He said: “Without impaired health and the strain of age, running the affairs of Nigeria is a 25/7 affair, not 24/7,” and appealed to Buhari to “consider a deserved rest at this point in time and at this age.”He stressed: “President Buhari does not necessarily need to heed my advice,” but insisted: “Whether or not he heeds it, Nigeria needs to move on and move forward.”
Femi Adesina, Buhari’s Special Adviser on Media and Publicity, had in a recent interview in Abuja disclosed that the state of the President’s health could determine whether he seeks re-election or not. “Health is wealth. ‎The President is not a frivolous person. If he thinks that his health cannot carry anything, he will not do it. So, of course, his health will matter a lot,” Adesina said.
The former president accused the Buhari-led government of “wittingly or unwittingly” allowing the herdsmen crisis to “turn sour and messy.” According to him, “It is no credit to the Federal Government that the herdsmen rampage continues with careless abandon and without an effective solution.”He noted that it was a “sad symptom of insensitivity and callousness” that some governors, barely 24 hours after 73 victims of the Benue massacre were buried, jubilantly endorsed Buhari for a second term.
“The timing was most unfortunate. The issue of herdsmen/crop farmers’ dichotomy should not be left on the political platform of blame game. The Federal Government must take the lead in bringing about a solution that protects the life and property of herdsmen and crop farmers alike and make them live amicably in the same community.”
Obasanjo listed three cardinal sins of the current administration. He cited “nepotistic deployment, bordering on clannishness and inability to bring discipline to bear on errant members of his nepotistic court. It would appear that national interest was being sacrificed on the altar of nepotistic interest, or what does one make of a case like Maina’s?”
The second, according to Obasanjo, was a “poor understanding of the dynamics of internal politics. This has led to wittingly or unwittingly making the nation more divided, with inequality widening and becoming more pronounced. It also has effect on general national security.”
The third, Obasanjo noted, was “passing the buck.” He said blaming the Governor of the Central Bank for devaluation of the naira by about 70 per cent and blaming past governments “is to say the least, not accepting one’s own responsibility. Let nobody deceive us, economy feeds on politics and because our politics is depressing, our economy is even more depressing today. If things were good, President Buhari would not have needed to come in. He was voted to fix things that were bad and not engage in the blame game.”
Pre-empting public response, the former president said: “Some may ask, ‘what does Obasanjo want again? Obasanjo has wanted nothing other than the best for Nigeria and Nigerians. And he will continue to want nothing less.”He called for the establishment of a ‘Coalition for Nigeria’, a body that “needs not be a political party” and which would “salvage and redeem” the nation. “This Coalition will be a movement that will drive Nigeria up and forward. It must have a pride of place for all Nigerians, particularly for our youth and our women. It is a coalition of hope for all Nigerians for speedy, quality and equal development, security, unity, prosperity and progress. It is a coalition to banish poverty, insecurity and despair.”
The National Publicity Secretary of the All Progressives Congress (APC), Bolaji Abdullahi, “asked to be given the opportunity to study the statement,” saying: “We shall respond appropriately afterwards.”The Peoples Democratic Party (PDP), however, described Obasanjo’s advice as courageous, timeous and patriotic.

The National Publicity Secretary, Kola Ologbondinyan, in a statement, yesterday, said APC’s failure were obvious and that Nigerians had already resolved to vote them out in 2019.
Obasanjo’s counsel, Ologbondinyan said, had rekindled people’s fate in the democratic process. He noted, however, that solution does not lie in creating another political quicksand in a third force but rather consolidating on a rescue mission with the repositioned PDP.

The Action Democratic Party’s National Secretary, James Okoroma, said: “Obasanjo’s description of Buhari as clannish and nepotistic was apt. Buhari’s lopsided appointments in favour of his Fulani kinsmen make him unworthy of leading other Nigerians. He remains a disappointment to the nation. His lack of capacity, vindictiveness, narrow mindedness and shallow understanding of global politics, make him a bad choice for the future of Nigeria.”
The National Chairman of the United Progressives Congress, Chekwas Okorie, described Obasanjo’s warning as timely, noting that the current administration had done more harm to the unity of the country than any other.Also, the Chairman of the National Conscience Party, Tanko Yinusa, advised Buhari to heed Obasanjo’s counsel, adding: “The most surprising thing is the President’s refusal to visit the killing fields in Benue, Numan, Taraba and other parts of the country where his kinsmen unleashed terror on the people.”
President General of the Urhobo Progressive Union, Olorogun Moses Taiga, said: “I reason in line with the former president and I suggest Buhari should start looking out for a younger person to replace him, a person that will be concerned and compassionate about the interest of minorities in the country. The economy is down and it needs someone with strength and ideas to revive it.”The President, Yoruba Council of Elders, Chief Sofola, urged Buhari to “follow the examples of former presidents of South Africa and Tanzania, Nelson Mandela and Julius Nyerere, and leave the podium now that the ovation is louder and go and look after (his) health.” He also warned Buhari not to stretch his luck too far.
The presidential candidate of the National Action Council (NAC), Dr. Olapade Agoro, enjoined Buhari to heed the call not to re-contest.He said with the enormous security and economic challenges facing the nation, “those urging Mr. President to go on are not only his enemies but are also self-interest serving infidels, enemies of humanity, truth and good conscience.”
Also reacting to Obasanjo’s letter, the Executive Director of the Civil Society Legislative Advocacy Centre (CISLAC), Auwal Ibrahim Musa, said: “President Buhari should take the advice of Obasanjo, to be able to conclude and concentrate on his first term in office and provide quality leadership. If he does this, the international community will see him as another Mandela in Africa.”
Meanwhile, Buhari, yesterday, held a closed-door meeting with APC National Leader, Chief Bola Ahmed Tinubu, and the former Interim National Chairman of the party, Chief Bisi Akande, at the Presidential Villa, Abuja.The duo arrived few hours after Obasanjo made his letter to Buhari public.Before the meeting, Tinubu told curious reporters: “Please, go back to where you are coming from. I will not talk to you. Don’t turn me into a talkative.”
After the meeting, which lasted about one hour, the APC leaders left the Villa unannounced. The Presidency has kept sealed lips over Obasanjo’s comments, with the Senior Special Assistant on Media and Publicity, Garba Shehu, saying: “We are not commenting now.”
In a related development, a crisis seems to be brewing between the Christian Association of Nigeria (CAN) and the Youth Wing of the Christian Association of Nigeria (YOWICAN) over the endorsement of Buhari for a second term.YOWICAN is alleging a plot by CAN to remove its President, Mr. Daniel Kadzai, for refusing to back Buhari’s re-election, vowing to resist the move.
The group said an illegal election slated for Saturday, this week, was hurriedly fixed after Kadzai rejected the idea of endorsing Buhari in return for alleged financial gratification.In a statement in Yola after an emergency meeting, the group said: “If they insist, we shall resist their manipulations to destroy the structure of the voice of Christian youths in Nigeria. We shall fight and resist to every inch and with the last pint of our blood.”
YOWICAN wondered why a call for election was being made by CAN 10 months before the expiration of Kadzai’s tenure.“We are pleading with our CAN leaders and Nigerian Christian stakeholders to intervene in yet another thick manipulation at the CAN headquarters over premature YOWICAN elections to install a stooge towards the 2019 general elections,” the group said.

Guardian