Egba King, Alake strips chief who insulted the Naira of royal benefits
When the Egba Traditional Council makes a decision, it does so with the full backing of 80-year-old Oba Adedotun Gbadebo, the Alake and paramount ruler of Egbaland.
No matter how hard the Naira falls, it is not to be abused as a chief, the Olu of Owode has found following his suspension by the Ogun State Egba Traditional Council on Friday.
Oba Kolawole Sowemimo had been captured in a viral video laying a collar of the ₦1000 denomination on the Fuji musician, Wasiu Ayinde who was the headline entertainer at a celebration marking the oba’s 13 years on his throne.
Celebrating is fine but it was the manner that raised the council’s brow. Being that the Olu of Owode’s action can be found to have contravened a rule found in Section 21(1) of the Central Bank Act, 2007, he had to be suspended.
The consequence to him for defacing the Nigerian Naira meant that he was effectively stripped of his title for a period of two months. Within this period, he would also be deprived of salaries and be barred from presenting himself to any public his status as the Olu of Owode because philandering with the Naira goes against what the Egba Traditional Council stands for.
When the council makes a decision, it does so with the full backing of 80-year-old Oba Adedotun Gbadebo, the Alake and paramount ruler of Egbaland.
ALSO READ: How does a Yoruba Ifa priest think people can protect themselves against bandits?
The Alake reigns over all the lords registered in Abeokuta including the Obafemi Owode Local Government where the Olu of Owode has his domain.
Following the verdict, the Olu of Owode has been remorseful and accepting of the breach he had caused.
They said the suspension was due to the way I spent money on one musician, The Punch gathered from the sober Owode chief.
He adds that when I was asked if I had anything to say, I stood up and apologised for whatever I had done wrong and the suspension which was earlier announced to be for three months without salaries was reduced to two months.
I totally accept the verdict of the council because it is the person that we love that we chastise, so I am good with the decision.
When a three-member Ethics Committee of the Egba Traditional Council, headed by Oba Saka Matemilola met to think up recommendations in response to a breach by one of their own, the Naira was struggling and still continues to struggle against the globally accepted United States Dollar.
The period spanning Monday, 12 to Friday 16, February saw the Naira hover up to ₦1600 for the price of one dollar and that hasn’t been good for transportation and food cost.
In its weakness, the Naira maintains its hold as Nigeria’s legal tender.
Policy makers believe the deep fall of the Naira since a devaluation started in July 2023 is only temporary, so in the meantime, its integrity is being protected by a traditional council.
Ayodelé is a Lagos-based journalist and the Content and Editorial Coordinator at Meiza. All around the megacity, I am steering diverse lifestyle magazine audiences with ingenious hacks and insights that spur fast, informed decisions in their busy lives.
