Basil Odilim
The Economic and Financial Crimes Commission (EFCC) should have arrested former Ogun State Governor Ibikunle Amosu after he shamelessly admitted to “mistakenly” signing a contract with Chinese investors. However, the EFCC, true to its nature, cannot and will not take such action. This is because the EFCC was established not to serve justice but to protect powerful, corrupt politicians and criminal bankers while targeting only the small fish in the crime business, like the so-called “yahoo boys.” This selective enforcement reveals the EFCC as nothing more than a toothless, dull watchdog, incapable of holding the true culprits accountable. Its existence perpetuates a system where the powerful remain untouchable, and the vulnerable are scapegoated for the broader corruption that plagues the country.
This systemic corruption has allowed Chinese investors to exploit Nigeria’s weaknesses, traveling the globe to seize Nigerian assets. Their actions not only embarrass the country on the global stage but also create a new wave of criminality associated with Nigeria, inflicting irreparable reputational damage on a nation where lawlessness reigns supreme. The long-term dangers of continuing down this road are dire: Nigeria risks becoming a pariah state where legitimate business becomes impossible, international relations are strained, and its citizens suffer the most as their nation’s assets are sold off or seized to pay off debts accrued through corrupt deals.
The judiciary, which should serve as a beacon of justice, has instead been hijacked by those it should be holding accountable. The government, arguably the largest thief in the country, has strategically placed loyalists as judges in every court. These judges, who are supposed to uphold the rule of law, are instead ensuring that any case against the government is decided in the government’s favor. As a result, the government can brazenly expropriate private assets and then taunt aggrieved citizens to “go to court,” fully aware that the judicial system is rigged in its favor. This is why none of my many cases against the government during the administration of Muhammadu Buhari have made any progress.
This shamelessness and thievery extend to Nigeria’s financial institutions as well. The Central Bank of Nigeria (CBN) exemplifies this mindset. In a brazen act, the CBN opposed our registration of the “eNaira” at the United States Patent and Trademark Office (USPTO), claiming that “eNaira” is a sovereign asset of Nigeria and thus cannot be registered by anyone, including the CBN itself. However, before opposing our trademark, the CBN had secretly sought to register the eNaira for itself in Nigeria. Their claim that the eNaira is a sovereign asset is absurd, given that the word “Naira” itself is not a sovereign asset of Nigeria, as it originates from the name of a village in India. Despite these glaring inconsistencies and falsehoods, the USPTO accepted CBN’s argument, revealing either a shocking level of gullibility or complicity. Because of these falsehoods propagated by the CBN, the USPTO waived our doctrine of territoriality rights. This principle, which ensures that trademarks are protected within specific geographic boundaries, was ignored due to the misleading claims made by the CBN. This action not only undermines the integrity of the international trademark system but also sets a dangerous precedent for allowing sovereign entities to bypass established legal frameworks through deceit and manipulation.
In response to this travesty, Mefona LLC has initiated a declaratory lawsuit against the CBN, the Presidency, the Attorney General, the Trademark Registry, and the National Assembly. This lawsuit (FHC/ABJ/CS/994/2024) aims to establish if “eNaira” is indeed a legitimate Nigerian asset and rectify the erroneous acceptance of the CBN’s claims. This legal battle is not just about defending a trademark; it is a crucial fight to reclaim the integrity of Nigeria’s legal and financial systems and to hold accountable those who exploit and distort them for personal gain.
Continuing on this path is extremely dangerous for Nigeria. It undermines the country’s credibility on the global stage, erodes the fundamental trust needed for economic growth and foreign investment, and further isolates the nation. As long as these practices persist, Nigeria risks descending further into corruption, with the ultimate victims being the Nigerian people, who will find themselves in a country stripped of its assets, mired in corruption, and devoid of justice or opportunity.
