Soludo's Solution Of Anger And Innuendo By Nasir El Rufai

By Nasir Ahmad El-Rufai

Long before the publication of The Accidental Public Servant, I had decided to resist joining issues with whatever commentators wrote in response to the book by way of either attacking the author or its contents. It is a narrative of my experiences and views, and   I would simply invite others to document theirs. Many of those that commented on, or 'reviewed' the book had not even read it in full. Others had decided long before it was published that they would attack El-Rufai and whatever he writes, while a few others were simply going to be unhappy with how they were presented in the book as being less than perfect. When one writes a 700-page book, one has to take a deep breath and allow others the slack to write a few pages in response, however disagreeable or abusive.

When I wrote The Accidental Public Servant, there were no illusions that its account would be uncontested. As I have said repeatedly, it is simply my account of the people and events that defined my years in public service. I took several precautions (such as double-checking from the copious notes and diaries of events that were taken after every major encounter - about forty seven note books in total) of ensuring that it is a truthful, balanced and fair account of my experience. I do not have a professorial memory, so kept daily journals of events including verbatim records of statements. I am delighted that I took the time to write it, and I once again encourage others who have been privileged to be in the public service to similarly record their experiences. Those who may choose not to write books can still contribute by responding to specific issues mentioned in my narrative on which they may have other information, however critical or contrary to my account.
Professor Charles (I have always called him Charles because that is how we were introduced. I have never gotten used to calling him Chukwuma) Soludo approached me at the end of the recent thanksgiving service for my sister, Oby Ezekwesili, to complain about some of the assertions in my book concerning him. He denied that he owed his consulting jobs with the World Bank and other institutions to Ngozi Okonjo-Iweala. He denied being mentored or taught by her father. He added that he had not read the entire book but would send me two pages of his initial observations. I encouraged him not only to do so, but publish it and work on a book documenting his experiences. Knowing Charles as I do, I had no doubt that he was already doing that and the first episode has now been published in his fortnightly column in Thisday.
Thus, his rebuttal did not come as a surprise; given  that I encouraged him to do so as I have nothing to hide. Even so, it is shocking that he chose to sensationalise his version of events by describing The Accidental Public Servant as intellectual fraud. There is a question mark in the title of his article, but the last sentence of Charles' diatribe restated his magisterial conclusion. He went further to provide his own definitions of fraud as "an intentional deception made for personal gain or to damage another individual" or "as course of deception, an intentional concealment, omission or perversion of truth"; only to stop there! Fraud has a technical and legal definition and if Charles had bothered to consult his lawyer, he would have gone beyond the 'online definition', but that is another matter for now.
It is illogical to contest someone’s CV with him in the absence of contrary and superior information. I therefore concede to Charles' account of his professional odyssey prior to his being introduced to us in 2000 by Ngozi Okonjo Iweala, long before joining the Obasanjo government in 2003. The logical question therefore is how any of the examples he gave of the errors in his resume would without more, rise to the level of fraud? Why would I intentionally deceive the world that Soludo's tenure as governor of CBN started in mid-2005 rather than May of 2004? This only occurred when one of the book's editors thought the 2004 date was wrong and 'corrected' it but that escaped subsequent editorial reviews. What is the personal gain to me in describing Soludo as a protégé of Professor Okonjo or how did the description damage him when he just referred to the same Professor Okonjo as "respected"? So, Charles needs to substantiate how any assertion, error or omission in the book amounts to "fraud" per his definition.  
After that, I do not see much that is significant to warrant a clarification from me. One friend on Twitter observed that Charles' polemic had so much anger and little substance that he truly sounded as angry as a woman scorned!  Much of Charles’ response is enlivened by innuendos. He repeats the frequent charge about my ambition for the presidency in 2007, a charge that is untrue but that is often echoed as if that ambition, if it existed, is akin to treason. Charles knows that I do not consider illegitimate his desire to be governor of his state or his current hopes to be a presidential running-mate. But he should know better than most that ambition for office is not the only reason for being active in politics. Since Charles has claimed that I 'schemed desperately' to succeed Obasanjo, he should please tell all - inform Nigerians what I did, who was involved and spill the beans! Virtually all the narratives in The Accidental Public Servant about Charles involved others that are still alive, and if he said I made them up, perhaps he should state his version and invite others mentioned to invalidate my claim instead of calling anyone a liar just because he did not like the way his conduct appeared in the book.
Charles was introduced to me by Ngozi, and that was the foundation of our professional relationship and friendship. As far as I know, it was also Ngozi who proposed his name for economic adviser and Oby (and her husband) took him to Obasanjo several times before he was appointed. If Charles is denying that this happened, that is fine. It does not change the facts, and those that did what they did know what they did or did not do! Why is Charles so hurt that others have helped him?  Is he suggesting that he had won the Nobel Prize in Economics and that is how Obasanjo got to meet and appoint him?
Charles presented his jaundiced interpretations of what I wrote in clear language as my views in his piece. For instance, there was nowhere in the book that I wrote that 'Ngozi was power hungry.' She was pragmatic and realistic about power relations. How does that equate to being power hungry? Charles is playing with words in a patently dishonest way, knowing that many that will read his piece have not read the book, but he is not the intellectual fraud! Charles also asserted that I forced myself on the economic team and “destroyed it”! Was it El-Rufai that composed the membership of the team? When and how was the team single-handedly destroyed by me? As far as I know, warts and all, the economic team kept on working till May 29, 2007. Again, I invite Charles to educate us all now, bearing in mind virtually all the team members are still alive and around, even after he stopped attending its weekly meetings.
In the book, I wrote that Charles did many things to ingratiate himself to Obasanjo, one of which was to attribute every good 'idea' to the latter; not actual achievements, since there were few in the early days. Charles' response was to misrepresent what was written, just as he knows that there is no weight to the claim that appointees under a presidential system cannot claim credit for their work. To acknowledge the opportunity President Obasanjo gave me to serve, and the support he provided to help us succeed at the FCT is very different from pretending that only the boss had any ideas on how to administer Abuja, or that he oozed perfection, presidential system or not.
Charles also came out guns blazing questioning my narratives of events involving his new mentor Atiku Abubakar, and Nuhu Ribadu and Obasanjo. In Charles' views, these three people made me tick in government and I should be eternally grateful. Charles has not read the book. If he did, he would have come across all the instances in which I gave each of them credit for what they did right and how they contributed to the work I did. Unlike Charles who makes people believe they are perfect when he needs them, I was consistent in and out of office in pointing to those I worked with where I believe they went wrong Just as I was self critical of my own shortcomings. In Charles' vocabulary, that is ingratitude. In mine, it is simply utilitarian sycophancy to attribute perfection to imperfect mortals because they are likely to help one's career next week!
Charles claimed that I pleaded with him to provide technical assistance to BPE. That is false. That conversation just never happened. Those familiar with BPE know that we hired people either as regular public servants, individual consultants called 'core team' members that work full time in the organization or investment bankers and consulting firms like lawyers and accountants that provided periodic transactional services as needed. Charles and his economic consulting firm did not fit into any of the three categories. I appointed him to the membership of two reform steering committees - Competition and Anti-Trust and the Industry and Manufacturing Reform Committees along with persons of the calibre of Pat Utomi, Oby Ezekwesili, and Aliko Dangote. I was the coordinator of both committees as DG of the BPE, with Ibrahim S. Njiddah, now a presidential assistant doing the day-to-day management. I am now learning from the Charles’ piece that he single-handedly did the work of the Competition Reform Committee for free. I did not realize that all the other notable members did nothing! Well, thanks Charles, but Steering Committee members got hotel accommodation and were paid sitting allowances by the BPE, so I do not quite understand what was meant by asserting that you did the work free of charge.
That leaves us with asking Charles to detail the fraud he alleges was attendant to the efforts we made to restore the Abuja master plan. He claimed that my ‘vindictiveness’ nearly ruined the exercise. Really? There is need to say more right on this away. I am challenging Charles to substantiate these innuendos with names and details of my alleged vindictiveness in his article since everybody knows that my service at the FCT is a matter of public record that has been investigated by several institutions unsympathetic to me, and all Abuja residents know about and still comment upon it.
The rest of Soludo’s article was spent blowing his trumpet of banking consolidation with his characteristic modesty! The dismissal of Charles' over-hyped banking consolidation in The Accidental Public Servant therefore appeared to upset him more than anything else. He is still under the illusion that his 'revolution' changed our lives the way GSM licensing did! No one needs a single 234Next to see through the hype and the disingenuous comparison. Banks like First Bank, UBA, Union, Zenith IBTC, and GTB needed no consolidation. They had sound business models and were doing well without it. Soludo’s consolidation abolished investment banks and regional banks, while creating a few ‘big’ banks with funny names many of which were either comatose by 2009 or had to be subsequently saved by the Sanusi Lamido Sanusi rescue exercise. It is pathetic to measure the success of consolidation by the number of banks in the top 1,000 banks in the world. Did that ranking translate into increased lending to the real sector, greater employment opportunities for our people and intensified mobilization of savings in the way the GSM revolution did? No way, only massive margin loans to create a stock market bubble, engender insider lending and incestuous relations between regulators and operators in the industry.

The kind of targeted interventions needed to fill the gaps sustained by some of such policies were opposed by Soludo unless the ideas originated from him. As CBN governor, Charles did all he could to frustrate the attempts to establish a national mortgage system and was openly critical of Ngozi's drive and contributions in getting the Paris Club debts written off for the simple reason that the the credit might go to others not Soludo!
Charles is free to beat his chest and claim that the deformed baby called consolidation was a revolution, but today many of the the poster-children of the policy like Intercontinental, Oceanic, Finbank and Spring Bank are history, the banking-stockbroking rock stars are facing prosecution, and with N4 trillion spent to prevent the collapse of his revolution. When Charles’ memoirs are published, those that either witnessed it or had to clean up ‘the world’s fastest growing financial system’ will have their own views. And it will be good for the country. After all, it has been said that every story has at least three sides, my version, your version and the truth which lies somewhere in between the two. If one refers to a book one finds disagreeable as intellectual fraud while insisting that a cancer one created that has cost nearly the annual budget of the federal government to treat, so far, as a resounding success, then what more is there to say? It simply points to the moral and psychological mind-set of such a person.

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Elrufai vs Soludo

Dele ur just missing d point...are actually upto tandem with what's going on here? Why join issues with d respected Prof Chinua Achebe? For ur information d whole world mourned Achebe unlike what happened when Awo died ba? Not that I'm comparing d two no. Achebe is an Iroko that cannot be tainted by tribal issues!..concentrate ur opinions on d El Rufai rabble rouser novel before u expose ur very scanty knowledge of macro economies...what do u know about GDP? To even compare d two independent events! And as for El Rufai...he's an intellectual faggot that's forever begging for attention on d nations newspapers! Soludo achieved so much for this country economically more than any other person that has served on d board of CBN...d records are there and speaks for itself. So stop ur ethnic hating and focus on d major issue...moving Nigeria foward. Let's all help GEJ to remain focused by not bring tribal issues to governance and economic wellbeing of our dear country

well said! Thieves fighting

well said! Thieves fighting amongst themselves should not make for good discussion

Elrufai vs Soludo

Charles Soludos consolidation was done with good intention but without proper measures put in place to monitor Bank activities which led to worst fraud committed by Bank CEOs in modern history, which would have been averted if he had prior knowledge, sentiments aside, Elrufai is by far the best administrator in the last decade. With AGIS that he established, FCT Sometimes make 400 million in a day. All his projects for Abuja were tagged impossible, yet he accomplished them. Elrufai is suffering from intellectual arrogance, we may hate him personally but we cant run away from his adminitrative skills. Prof Soludo has big plans for the Nigerian economy. Our duty is not to insult this men, but to advice them to keep their personal differences aside, come together & rescue Nigeria from the current clueless leaders who don't even know what administration & responsibility is all about.

Soludo's anger and innuendo

I do not think that this show of shame is more important than the issue of youth unemployment and the state of insecurity in the nation.You people are disgrace to this country,this how you share our national cake that belongs to us.What a shame!

who is destroying the european banks?

"Did that ranking translate into increased lending to the real sector, greater employment opportunities for our people and intensified mobilization of savings in the way the GSM revolution did?"@Nasir El-Rufai..the answer to this question is a resounding YES! You can compare banks" balance sheets before and after consolidation, also compare branch expansion in pre and post consolidation and you'll realize a lot of things changed. Infact, consumer finance was virtually non-existent before consolidation. Your bias against Soludo shouldn't blind you to the positives in the banking consolidation.


The ignorance and lies of Nigerian "intellectuals" should be highlighted.

When a man asserts that Nigeria's problems stems from the absence of a particular ethnic group from the power equation of the country is the cause for its decline and that information is contradicted by the information below

and by the graph of Nigeria's phenomenal GDP growth between 1968 and 1974:!ctype=l&strail=false&bcs=d&nselm=h&met_y=ny_gdp_mktp_kd_zg&scale_y=lin&ind_y=false&rdim=country&idim=country:NGA&ifdim=country&hl=en_US&dl=en&ind=false

It needs to be exposed for what it is.

Show & Tell

In the immortal words of the malaprop Yogi Berra, "In theory, there is no difference between theory and practice. But in practice, there is". Soludo, by most accounts, a gifted theoretician, did not perform nearly as well as he imagined in real life. On the other hand, El-Rufai, a brilliant but deeply-flawed tactician, was dogged by the karmic consequences of Ego. One might conclude that Obasanjo-Atiku, at least in the early days, tried to find the best available hands to lead a sinking country out of the morass, but ended up with a lot of bright minds with very little integrity. Therein lies the tragedy of Nigeria's third Republic. The internet-inspired bickering notwithstanding, El-Rufai has done this unfortunate country a huge favor by instigating a culture of memoir writing by public servants (or, in Nigerian parlance, "show and tell"). In time to come, we will barely remember Soludo's outrage, but everyone will recall Obasanjo's silence. Those will make for very interesting times.

@ El Rufai : Good Summary ...Respect !!!

@ El Rufai:
You packed your punch in the final paragraph but the last sentence was all you needed. RESPECT. Soludo was a fraud, his much taunted reforms were cosmetic and pure propaganda. However, I don't see an end to this pencil warfare, you two should face-off in a debate and trash it out since you were both instrumental in formulating OBJ's economic policy. Invite the other two clowns on your Economic Team (Oby & Ngozi) and have a Town Hall Chat about your good-ol'-days working for a monster. Una noise don do!

Day 11, @ Deri is still AWOL on SR. I'm getting worried, he's been with the Mortician too long ...e don quench? That would be Great News ...the Drunk was no use anyways, he was a nuisance and a thug for crumbs. Good riddance!

Nothing to choose between El Rufai and Charles Soludo

Where does the word "better" come in whilst discussing El Rufai and Charles Soludo, for any sane person to declare either of these creatures a victor in a wholly un-enlightened personal argument between them?

It is insane to overlook the more obvious fact that El Rufai is a criminal on trial for the worst type of nepotistic corruption, whilst Charles Soludo is still writing evidential statements in EFCC office, to explain what he knew, when and how, about the bribes distributed by an Australian Minting company to both Central Bank and Mint Directors for polymer currency printing of 10 and 20 Naira notes.

The similarity between El Rufai and Charles Soludo is fraud.

Neither of them belongs to the Nigeria of the future where character will trump sophistry. Criminals don't deserve a reasonable person's attention.

@ Dele Awogbeoba

El-Rufai's points are clear, I think. You will never miss an opportunity to attack Chinua Achebe even in death! How pathetic!

Professor Nasir Elrufai

Honestly l use to enjoy your treatise on the economy and your views on the kainkain leader in abuja. But you fall my hand 4 dis one. How can u praise sanusi Dr. Damages Sanusi. How do u resolve a puzzle, whereby some bank executive sat & approve loan for Jimoh Ibrahim, you sack them, then create a contraption called AMCON to negotiate repayment or may be loose the credit altogether cos people are already saying AMCON may not get up to 45% plus all the talk of AMCON for ever !! yet the Jimoh Ibrahim has a bank in Ghana with substantial interest. IT JUST DOESN'T ADD UP BRO ? And am tempted to agree with the fella that called you a serial tribalist. So you know, back in the days when banking was banking, you send the officers who grant a bad loan to pursue its recovery. You get more result. AMCON IS HERE TO ENCOURAGE BIG MAN FRAUD !!


I must state that this altercation b/w nasir and soludo leaves a bad taste in the mouth, but am inclined to comment on the area that touch on consolidation. Soludo is a master class take it or leave it. l never liked the consolidation as a practitioner, bcos l ask where the manpower will come from.But the guy was sure of his target, and l wish he had another 4yrs !! the global crisis had notin to do with nigerian banks, beside intercontinental that owed and paid back to sustain its credibility b4 a rash of event happened almost immediately to unsettle the bank. SANUSIS LAMIDO SANUSI EMBRASSED OUR FINANCIAL SYSTEM. Banking is about fidelity, any nagative word like calling our stock market a casino in the open is an invitation for trouble. N4trillion is gone down & still counting, d market is still on wheel chair, b4 sanusi start cashing in on this elrufai outburst.

El Rufai pontificates a lot

El Rufai pontificates a lot and that is his one major problem.
He also is averse to criticism but is a willing leader of critics!
His book made for good reading, I must admit. He portrayed himself as an unblemished saint therein. You will be a jackass if you choose to believe him hook line and sinker!!!
Having fully read the book, the only other thing I understood about him is his penchant for appointing his kinsmen as his close aides, the only exception being Jimi Lawal. How Lawal achieved that is a mystery to me. This goes to prove that El Rufai is a tribalist like most other corrupt Nigerian politicians and is no different from those he willingly castigates.
The book is a good collection though because it exposes the fraud, unpatriotic disposition and crass avarice among the people in authority in this country. I wonder if anyone will ever take Nasir El Rufai into confidence in any matter of state whatsoever after this book.

@OBJ's fabled Economic Management team

See below the graph of oil prices from 1960 to 2008.

You will see that Oil prices did rise but it also rose by a similar real amount (taking into account the value of the bench mark dollar) in the early 80's. Compare the increase in real prices of Oil and the GDP growth of Nigeria in 1980-1984 and Nigeria between 2000 and 2007 and you will see massive GDP growth in 2000- to date and a massive GDP contraction between 1980-1984 (see my second comment below for the graph). Conclusion, oil prices aided but not the sole determinant of GDP growth.

Did i just read El Rufai

Did i just read El Rufai attacking Soludo's consolidation exercise? But he supported it earlier, or is it because they now have divergent political ambitions?
As for me, I endorsed the exercise and still do. It's framework was both theoretically and contextually sound. El Rufai and Sanusi's are ad hoc and sentimental primed for the intellectually lazy mob

What is wrong with Nigeria Intellectuals 3

You will see that Nigeria grew at its fastest ever between 1968 and 1974 (when Awolowo and Gowon worked together and in the middle of a war where a third of the country was not economically active due to war). If one compares the GDP growth at that period with any other country in the world, very few countries match it. So the basis of Achebe's inputation in the absence of direct evidence is unreasonable.

In conclusion, Nigerian "intellectuals" like El rufai should make it clear that their "impressions" or "deductions"are not based on any direct evidence. As some Nigerians are not sophisticated enough to distinguish the difference between "impressions" and "deductions" made from kilometer length observations and the truth.

What is wrong with Nigeria Intellectuals 2

Similarly, with Achebe, he could not input malice to the igbo's as the motivation behind the 20 pound policy unless he was privy to words from Awolowo himself. Awolowo himself used economic justifications (avoiding the economic collapse of Nigeria's banks). I have attached a graph of Nigeria's GDP growth from 1960 to 2011.

What is wrong with Nigeria Intellectuals 1

What is it with Nigerian intellectuals these days. Everybody seem to be putting their "impressions" of people into books in situations where they have no evidence of the complete fact to back up such impressions. If you do not have the facts (either by a person with direct knowledge of the motivating factor behind a persons actions or words from the person themselves)please shut up.

In this case, El rufai does not know the economic motivation behind Soludo's opposition of the OBJ administration drives to clear the paris debt and so cannot impute personal vanity.


Kudos to Nasir El-Rufai for supplying details of the workings of our govt and its personalities. We are a democracy only in name but without its basic tenets. Or how else could we, the people, gain an insight into the corrider of power and its dynamics without books produced by Nasir and Adeniyi. When we, the people, start demanding accountability from our major players, we can call ourselves a true democracy. Until then....

Nice piece el-rufai. Soludo

Nice piece el-rufai. Soludo should have known before now that he really failed and is no match when it comes to policy initiation and implementation to el-rufai.

Soludo should have kept mute cos he is more exposed now than ever that he was not only a fraud but also deserves to be in jail if Nigeria is really to act in the way other societies do in some parts of the world.

Proud of you, El Rufai! I

Proud of you, El Rufai!

I have been longing to read your comments. It matches Charles' response to your book.

Soludo! You got served.

LOLLING! El Rufai that's a flawless victory, I can't wait to hear his response on all of this. lol

A little too late

Nigeria is a funny place in that when you are not in government or have godfathers, nobody listens or recognises you. When Soludo came up with his consolidation exercise, I wrote in the dailies then that it was a misguided elephant project and would fail. I said pointedly that Soludo was only a theoretician economist and was not brilliant enough to hold the position of CBN governor. Few people wrote a rejoinder attacking me and pointing to his professorial status. I then replied that the consolidation was a way of stealing by the bank bosses and that it was either Soludo did not know his business economics or he was going to be a beneficiary from that consolidation. This provided my basis of opposing his gubernatorial ambition afterwards and I wrote that the people of his state should be careful not to vote for him. Years later, you Mallam and others are seeing my point. Kudos anyhow.

re:soludo's solution of anger and innuendoes

In between the views expressed in The Accidental Public Servant by the author and Soludo's assertion of 'intellectual fraud', lies the truth which every discerning mind can deduce. posterity shall surely expose who between the two was on egocentric trip and who truly served interest of the public.


it is interesting to witness what loss of power could turn a people to. They are all confessing and recanting. Before long, they will tell us how the plans to massacre Odi and Zakibiam, to kill Bola Ige, Harry Marshal, etc, were hatched and executed. That is the beauty of democracy - your best friend today could be your worst enemy tomorrow. Ask Peter Odili, Chimaroke Nnamani, Orji Uzo Kalu and our dear OBJ.



I’m right and you are wrong... Go fcuk una self jare!

Longuirera fight. Yuh-i-mmy! I’m loving it. Wanna see who has the dirties Longuirera display; Soludo or El-rufai? Don’t stop it now till we the people get enough of your dirty secrets.

El-Rufai which one you de? You can and like to dish it out to people but when the table is turn around you starts crying foul, foul, it is so untrue, it is innuendo and tasteless. So your servant memoir is the truth and nothing but the truth abi? El-Rufai of I’m right and you are wrong institute. When you guys de chop, chop we no hear zziip from una mouth.

Everybody keep on claiming one ghost achievement or the other. I did this and I did that when I was in government. My question to all of you looters is... “Is the economy stupid?” Is unemployment stubborn? Are our roads motorable? How about electricity? Please show us what is working in Nigeria.

I’m right and you are wrong... Go fcuk una self jare!

Longuirera fight. Yuh-i-mmy! I’m loving it. Wanna see who has the dirties Longuirera display; Soludo or El-rufai? Don’t stop it now till we the people get enough of your dirty secrets.

El-Rufai which one you de? You can and like to dish it out to people but when the table is turn around you starts crying foul, foul, it is so untrue, it is innuendo and tasteless. So your servant memoir is the truth and nothing but the truth abi? El-Rufai of I’m right and you are wrong institute. When you guys de chop, chop we no hear zziip from una mouth.

Everybody keep on claiming one ghost achievement or the other. I did this and I did that when I was in government. My question to all of you looters is... “Is the economy stupid?” Is unemployment stubborn? Are our roads motorable? How about electricity? Please show us what is working in Nigeria.

I’m right and you are wrong... Go fcuk una self jare!

Longuirera fight. Yuh-i-mmy! I’m loving it. Wanna see who has the dirties Longuirera display; Soludo or El-rufai? Don’t stop it now till we the people get enough of your dirty secrets.

El-Rufai which one you de? You can and like to dish it out to people but when the table is turn around you starts crying foul, foul, it is so untrue, it is innuendo and tasteless. So your servant memoir is the truth and nothing but the truth abi? El-Rufai of I’m right and you are wrong institute. When you guys de chop, chop we no hear zziip from una mouth.

Everybody keep on claiming one ghost achievement or the other. I did this and I did that when I was in government. My question to all of you looters is... “Is the economy stupid?” Is unemployment stubborn? Are our roads motorable? How about electricity? Please show us what is working in Nigeria.

You be Fraud? I nobi Fraud

Boy oh Boy! Nasir you hit Soludo too high in this rejoinder.

Now we know that our government and all the players were .........F...d

Let's read more of the roforofo fight. We dey kampe!