Olanipekun Cautions Against Politicization Of Relocation Of CBN, FAAN

Legal luminary, Chief Wole Olanipekun, SAN has enjoined critics of the relocation of the Central Bank of Nigeria (CBN) and Federal Airports Authority of Nigeria, FAAN, from Abuja to Lagos, not to politicize the action but view it as an economic initiative for national development.

He expressed this position in his address at the 40th Convocation Lecture of Olabisi Onabanjo University, Ago Iwoye, Ogun State.

The legal Luminary who is the Guest Lecturer at the event, said “I read in the papers that some people are saying that since they moved Federal Airports Authority of Nigeria, (FAAN) and CBN departments to Lagos, it will have consequences on the elections, that is not correct. If for the purposes of administrative convenience, they take them back to the place they were, it is for the good of the country. Even economists will agree that you must site industries close to where your raw materials are.”

Delivering a paper titled, “Mass Exodus Of Human Capital In Nigeria: An Anatomical Analysis Of The Causes And Effects”, the Senior Advocate who blamed joblessness and frustration as the causes of growing relocation of young Nigerians to other parts of the world, implored President Bola Ahmed Tinubu to restructure the country and its constitution to create a better avenue for youths productivities.

Quoting a report of a body known as African Polling Institute, he said, “not less than seven out of every ten Nigerian are planning to exit the country to North America, Europe, Australia or Asia.

According to him, the desperation of these migrants are not restricted to the countries mentioned, but in their numbers, they also flood into African countries like Sudan, Libya, Ghana, South Africa, Senegal among others in the quest of greener pastures.

Describing human capital as an individual’s potential to contribute to economic growth based on his skills, talent and knowledge, he believes that “human capital is the most critical resource for national. Hence, an investment in human capital would undoubtedly yield simultaneous increase in innovation, social well-being and productivity. Adding that the role of human capital in the production process cannot be underplayed. This, the legal icon underscored is because people cannot be separated from their knowledge, skills, health or values in the way they can be separated from their financial and physical assets.

Chief Olanipekun admonished that something urgent and fundamental needs to be done to arrest the trend. He pointed out that failure to do this implies continued loss of human capital which is regrettable for developing country like Nigeria as it will translate to economic regression and higher inflation.

More so, Olanipekun recalled the recent kidnapping of six students in Ekiti state and killing of 2 traditional rulers, saying “One of the Obas was an associate professor at Federal University of Technology, Akure. We must quickly revitalize our security architecture to forestall future occurrence.”