On Monday, February 9, 2025, Premium Instances, certainly one of Nigeria’s well-known on-line publications, revealed a bit which left me questioning whether or not it was actually from the identical platform I’ve all the time revered.
Writing ostensibly in response to a bit on Cardoso’s first eleven, Premium Instances revealed a bit that was, to place it mildly, heavy on conjecture.
The “unique” centered on the appointment of consultants and advisers on the CBN, however whereas I learn to see whether or not they have been going to current proof of incompetence or lack of qualification with regard to the profiles within the article they have been responding to, the piece appeared to learn like an assault on the feminine consultants and advisers.
Premium Instances went so far as calling them “Cardoso Girls”. This was upsetting and I discovered it to be a blatant show of sexism as a result of the very fact stays that these girls will not be simply names on a web page – they’re our daughters, sisters, wives, moms, aunties, and nieces, quietly getting the work achieved. They’re human beings, and this isn’t the right way to deal with our personal.
As a girl who has confronted her personal share of sexism, I discovered the publication’s method to be a mirrored image of the patriarchy that also grips sure quarters of Nigerian society. Girls can’t be clever, completed, and competent – with out having to justify their existence.
The piece utterly ignored the {qualifications} and expertise of those girls. It allotted largely with stability, which is a key journalism tenet. There was no point out of their {qualifications} or expertise; no supply was named within the unique piece about three globally acknowledged, extremely competent, well-qualified go-getters with over 80 years of cognate expertise between them.
I used to be apprehensive as a result of this isn’t the primary time Nigerian girls have been dragged merely for being glorious. We noticed it with Ngozi Okonjo-Iweala, who confronted relentless assaults when she served as Minister of Finance. Regardless of her impeccable credentials – Harvard, MIT, World {Bank} – critics ignored her work and resorted to private assaults.
It occurred to Dora Akunyili of blessed reminiscence, who revolutionized NAFDAC, saved numerous lives by taking up counterfeit drug barons, and was nonetheless vilified by vested pursuits. There may be additionally the case of Arunma Oteh, who was put by the misogynistic wringer.
That very same script appears to be taking part in out once more as a result of each time a girl steps up, as a substitute of partaking together with her concepts, detractors throw a low blow however historical past vindicated Okonjo-Iweala, Akunyili and Oteh – and it’ll do the identical for these sensible girls on the CBN.
The piece in quoting an unnamed supply on the CBN wrote that “there are 29 skilled administrators, 170 deputy administrators, and over 400 PhD holders in CBN. There is no such thing as a must domicile consultants within the {bank}.”
This gives an ideal segue into the profiles of those three amazons.
Nkiru Balonwu and Daphne Oterie Dafinone are each PhD holders so let’s make that 402 PhD holders on the CBN. The extra, they are saying, the merrier. In a rustic the place many name themselves medical doctors with out the requisite scholarship or {qualifications}, the belief was that the publication was going to name their {qualifications} or expertise into query, however the focus was largely on how a lot they’re paid the curious factor was that whereas the piece centered on the three girls, it was eerily silent on their male colleagues.
It’s curious however not shocking that the piece selected to disregard the lads. Why? As a result of in lots of minds, a person’s competence is assumed, however a girl’s should all the time be defended.
Is that this not sexism and patriarchy at work? Additionally it is intriguing that the web platform revealed this piece at a time when the reforms on the CBN are bearing fruit. The naira is stabilizing, the FXCode has introduced sanity and banished hypothesis within the FX market and international portfolio buyers are falling over themselves to put money into Nigeria.
This appears to me like an pointless distraction.
Dr. Dafinone comes from a household which has been acknowledged by the Guinness Guide of World Information as producing the very best variety of Chartered Accountants in the entire extensive world. She is by no probability an upstart.
Daphne Dafinone has a PhD in Inner Audit & Company Governance from Metropolis College, London. Earlier than her PhD, she had obtained an MSc in Inner Audit & Administration Finance from the identical college after graduating with a BA (Hons) in Economics diploma from the College of Manchester in 1987.
Her first job, verifiable from publicly out there information, was at KPMG Peat Marwic MClintock Chartered Accountants in the UK. It’s a globally acknowledged undeniable fact that KPMG solely hires the perfect.
Earlier than coming to the CBN consultancy, Dr. Dafinone rose to the place of Chief Working Officer of Crowe Dafinone which makes her a bonafide owner-manager.
The publication additionally alluded to the truth that she is a board member of NIRSAL however the piece forgot to say that Dr. Dafinone was audit committee chair on the board of CitiBank Nigeria. As we are saying in Naija: na the place NIRSAL take attain Citibank?
With a give attention to growth finance and governance on the CBN, Dr. Dafinone has introduced over 35 years of expertise in company governance, due diligence, company restructuring, mergers and acquisitions, and debt restructuring to her function.
Change all the time invitations pushback!
Ms. Shola Phillips isn’t just a Particular Adviser to the Governor of the Central {Bank} of Nigeria on Compliance & Danger. She is a globally famend and well-respected Compliance and Danger skilled.
Based on her profile, Ms. Phillips “is main the design and implementation of a brand new division with the mandate to enhance compliance inside the {Bank} and throughout the Nigerian Banking trade by spearheading initiatives that foster good governance and moral conduct by way of the introduction of accountability measures.”
Allow us to ask a fast query: is Shola Phillips certified to be an adviser to the CBN governor? The place can we begin from? One: Allow us to take into account her 25 years of expertise as a senior compliance director throughout the wholesale and retail sectors of the {financial} service trade; Two: allow us to take note of her regulatory information spanning a number of dynamic and sophisticated jurisdictions – the UK, Europe, United Arab Emirates, Hong-Kong, Singapore, Japan, United States of America, and a number of jurisdictions in Africa. Three: allow us to ponder on her schooling on the College of Studying, the place she graduated with a level in Economics and the Cardiff Enterprise College in Wales the place she bagged her MBA.
Shola just isn’t an area champion, no sir! Beginning her profession at house as a Company Finance affiliate at Prudent Service provider {Bank} Restricted she set out for world domination and has labored at Handelsbanken Non-public {Bank}, Mizuho Company {Bank}, Ruffer LLP, Rothschilds, and the Permal Group.
She was Anti-Cash Laundering Compliance Officer for Citibank Nigeria Restricted earlier than going forward to function World Features Regional Compliance Director for the Europe Center East & Africa area at Citigroup after which the World Head of Compliance for Danger Administration at Citigroup, Inc.
Discuss world domination
Final time I checked, we’ve solely two Nigerian born legal professionals who’re Senior Advocates of Nigeria and Queen Counsels now Kings Counsel. They’re Professor Fidelis Oditah and Professor Oba Nsugbe what meaning is that Oditah and Nsugbe are on the prime in two jurisdictions; Nigeria and the UK.
What have they acquired to do with the CBN? Nicely, allow us to discuss Dr. Nkiru Balonwu. Like Dafinone, Balonwu comes from a household of famend legal professionals and her ambition, as she wrote in a current, LinkedIn submit was to rise all the best way to the Supreme Courtroom.
However she pivoted first to academia after which enterprise and consulting. A consummate scholar, she earned her first diploma in Legislation from the College of Manchester, her Grasp’s from College School London after which a doctorate from the College of California, Berkeley.
She has been referred to as to the bar in England, Nigeria, and New York – a feat any lawyer will inform you is extremely tough. Passing only one bar examination is difficult; passing three, throughout completely different authorized programs, is an achievement that calls for extraordinary mental rigor.
When Dr. Balonwu returned to Nigeria she was employed on the College of Lagos the place she was the inaugural, that means FIRST EVER, lecturer in Gender & Legislation at Unilag. She was Senior Fellow on the Mossavar-Rahmani Heart for Enterprise and Authorities, Harvard Kennedy College from 2022-2023. Her focus was on the function of the personal sector in influencing and developing gender coverage in Africa.
Whereas nonetheless in her 30s, Dr. Nkiru Balonwu was appointed CEO of Spinlet, then Africa’s largest music streaming platform—lengthy earlier than Spotify, Tidal, or Deezer entered the continent. She is the Founder & Artistic Director of the Africa Mushy Energy Group, which incorporates African Girls on Board, ASP World, and RDF Methods. This influential assume tank and advisory group has collaborated with world powerhouses like Fb, MTN Nigeria, MTN Benin, Ford Basis, Africa Finance Company (AFC), Africa Funding Discussion board (AIF), Afreximbank, the Nigerian {Economic} Summit Group (NESG), the Nigerian Inventory Change (NSE), and Mastercard Basis, amongst many others.
Past consulting, Balonwu is a revered board member of main establishments reminiscent of BusinessDay (Nigeria’s premier enterprise and {financial} newspaper), the Worldwide Federation of Periodical Publishers (FIPP), Africa Prosperity Community, and Asaase Broadcasting Firm Restricted in Ghana. She additionally serves as Chairperson of the Sickle Cell Help Basis (SCAF).
Now, allow us to discuss cash and compensation which was the principle focus of the piece. A advisor from McKinsey, Bain, or Accenture payments a whole bunch of 1000’s of {dollars} for a similar strategic work these girls are doing. PwC, KPMG, and Deloitte cost prime greenback simply to ship analysts – sure, analysts – into an workplace.
Let’s be actual – if these skilled girls have been younger “white boys” who know far much less, no person would bat a watch.
I consider that articles like this that often scare away certified, competent Nigerian professionals from coming house to work and assist the Nigerian authorities.
I want this piece was not revealed by Premium Instances which I’ve quite a lot of respect for.
Afusat Kassim, a media and Promoting practitioner writes from Lagos.