Uche Jombo is a highly accomplished Nollywood actor, director, and producer who has been in the industry for over two decades. She has starred in, produced, and directed several movies showcasing her storytelling dedication. Having been in the industry for so long, Jombo admits that Nollywood isn’t where it used to be, but it isn’t where it should be either. She says they are much better regarding technicalities, but the storytelling still needs some work. When it comes to where she gets her inspiration, Jombo says she gets it from her environment. The actor likes to make films based on true life stories because there is always a lesson. In working behind the scenes as a producer, Jombo makes films she wants to watch. “For production, I simply make the kind of films I want to watch. I am not just a film student or film lover; I am also a film audience. I love to watch films.”
Read Uche Jombo’s story on pages 8 to 10.
There’s always a fresh way to add suede to your outfit, whether dressed up for a formal occasion or going casual. This week’s fashion pages show six stylish, practical ways to rock suede today.
If you’ve ever had blackheads, then you will agree with me that they can be very annoying. Did you know that blackheads are clogged pores full of dirt, oil and dead skin cells? There are ways to get rid of blackheads, and we show you the best and worst ways on page 12.
This week, our movie review correspondent reviews Gladiator II. Although he gave it a high score of 8 out of 10, I’m not keen on watching it for some strange reason. But don’t let me stop you.
Until next week, enjoy your read.
Photo: Kola Oshalusi
@insignamedia Makeup: Zaron
OnahNwachukwu Editor, THEWILL DOWNTOWN
SUNDAY, DECEMBER 01, 2024 THEWILL NEWSPAPER • www.thewillnews.com
When THEWILL exclusively reported on Wednesday, November 20, 2024 that the fugitive former Governor of Kogi State, Yahaya Bello would voluntarily surrender to investigators at the Abuja headquarters of the Economic and Financial Crimes Commission, EFCC, within a few days, having exhausted all legal strategies to evade arrest and prosecution over alleged multiple counts of laundering billions of naira, the newspaper was certain that the web of intrigues and power play at work had been settled.
Like the wheel of fate turning at its own measured speed towards an inevitable destination, the dramatis personae at work were driven by the same motive to bring an end to what is jocularly referred to as a “long cat and mouse game” between Bello and the EFCC, which had become an embarrassment to the country. Something had to be done and quickly too.
HOW THE DEAL WAS BROKERED
The National Security Adviser, Nuhu Ribadu; the Chairman of the Nigeria Governors’ Forum, AbdulRaman AbdulRasaq; Kogi State Governor, Usman Ododo and the Chairman of the anti-graft agency, Olanipekun Olukeyede were the collaborators that brokered the deal that led to Bello’s voluntary surrender, according to our authoritative checks.
Ribadu, who supervises the country’s entire security architecture, was said to be miffed at Bello’s antics, which was negatively impacting the activity and
achievements that his direct approach to insecurity was yielding, as well as his outspokenness against perceived saboteurs.
On a larger, remote scale, the case called to question the Federal Government’s commitment to enforcing its own orders when its agencies, such as the Nigerian Immigration Service and the Office of the AttorneyGeneral and Minister of Justice, alongside the Interpol, had supported the EFCC for declaring Bello wanted, thus making him a fugitive from law.
For the NGF, Bello’s case was like a mirror held to their tenures. The case, a source recalls, had been ongoing since 2021 during the tenure of the immediate past EFCC chairman, Abdulrasheed Bawa.
Bawa’s target then was the former governor’s wife Rashida, whom the commission named in an alleged money laundering charge, an allegation which the governor’s media aides dismissed, describing it as a veiled attempt to taint the image of Bello, who, of course, could not be arrested at that time because he had constitutional immunity from prosecution.
But by the time Bello left office on May 29, 2023, and his immunity gone, the fraud allegations against him mounted, leading to his present prosecution by the EFCC. Even so, the big pressure that seemed to have worked on the governors’ forum was to come from an unintended source. That was when presidential spokesperson, Bayo Onanuga recently said in a national television interview, quite unintentionally, that the
EFCC could not arrest Bello because Governor Ododo who was hiding him, had immunity.
Onanuga in that interview, said: “I think it’s a bit complicated. The EFCC is an agency of the Federal Government, and it wants to arrest Yahaya Bello. Yahaya Bello is hiding under the agbada (flowing robe) of the governor of Kogi State, his successor, who happens to enjoy immunity.
“That’s the problem because if he stays inside Governor Ododo’s house, the police cannot do anything because they will be violating that immunity that the man enjoys.
“It’s like a diplomat enjoying certain immunity; you cannot do anything about it. You remember in the UK when they were looking for the Wikileaks man and he went to hide in one embassy in Britain, there was nothing they could do, they left him there. I think he later came out and they arrested him.
“It’s the same thing. Ododo enjoys immunity. Yahaya Bello is believed to be hiding there. They cannot storm the place and say they want to arrest him. That’s the problem of the EFCC, and the police cannot help the EFCC.”
Now, the immunity clause in Section 308 (1) (a) of the 1999 Constitution confers on the President or Vice-president, Governor or Deputy-Governor, absolute immunity against the institution of civil or criminal proceedings against the President or Vice-president, Governor or Deputy-Governor when they are in office. THEWILL gathered that Onanuga’s statement
COVER
...How Ribadu, AbdulRasaq, Ododo, Olukoyede...
brought Ododo’s role in the matter under proper scrutiny among state governors.
THEWILL recalls that on two occasions, Ododo had actively supported Bello and prevented him from arrest by the EFCC. The first occasion was at Bello’s Maitama, Abuja residence on April 17, 2024. EFCC operatives had laid siege to the former governor’s residence to arrest him after he failed to honour their invitation. The siege lasted for hours into the evening until Ododo appeared with his security details in a convoy and took Bello away.
Also, on September 18, 2024, both men with the full complement of security details and some supporters appeared at the EFCC headquarters in Abuja. Bello was not arrested. The EFCC media team said the governor was asked to depart because the Chairman of the commission was absent, and the low-ranking officers had no mandate to act.
Reacting to the event, the lead prosecution counsel in Bello’s trial, Kemi Pinheiro SAN, told Justice Emeka Nwite of the Federal High Court sitting in Maitama, Abuja that the recent appearance of the former Kogi governor at the parking lot of the EFCC was out of place as both the trial court and Court of Appeal clearly ordered him to present himself for arraignment in the N80.2 billion money laundering charges preferred against him by the EFCC.
“There is nowhere my Lordship, or the Court of Appeal ordered Yahaya Bello to present himself at the EFCC car park, but rather to appear before my Lordship for arraignment. What is even more worrisome, and disconcerting is that the defendant went to the EFCC car park holding the hands of a person with immunity who came with all the security details of his office,” said Pinheiro, adding,
“The implication, my Lord, is if there was an attempt to get him from the person of immunity, it would be an invitation to anarchy. The invitation by the EFCC later in the day for Yahaya Bello to come alone, not with a person with immunity, security persons and other people was resisted again on their own admission.”
Faced with this case of one bad apple tainting the whole bunch, some state governors were said to have asked their Kogi counterpart to rethink his plan and allow the governors’ forum to intervene in the matter. This was how the NGF through its Chairman, AbdulRasaq, began to explore avenues for a soft landing for Bello.
THEWILL gathered that the former governor’s longdrawn battle with the anti-graft agency before and after office convinced him that he was targeted by some interests using the anti-graft agency as a cover. During his 8-year rule in Kogi, Bello governed like an emperor, often accused of deploying brutal tactics to checkmate political enemies.
ensure due process.
“The case has been before a competent court of jurisdiction and Alhaji Yahaya Bello was duly represented by his legal team at every hearing. It is important for the former governor to now honour the invitation of the EFCC to clear his name as he has nothing to hide and nothing to fear. The former governor believes firmly in the efforts of the administration of President Bola Ahmed Tinubu to place Nigeria on the path of sustainable economic development and he supports the fight against corruption in the country.”
Executive Director of Rule of Law and Accountability Advocacy Centre, RULAAC, Okechukwu Nwaguma, said this is a test case for the EFCC.
He said, “The transparency of the Economic and Financial Crimes Commission (EFCC) in handling Yahaya Bello’s corruption case has come under scrutiny due to several factors. For the EFCC to maintain its credibility, it must ensure transparency and accountability in high-profile cases like that of Yahaya Bello. This involves clear communication, timely updates on investigations and a commitment to act impartially, regardless of political affiliations.”
For lawyer and Convener, Vanguard for Independence of the Judiciary, Douglas Ogbankwa, “the criminal jurisprudence in Nigeria protects the strong and destroys the weak. If it was a poor man that was involved in this matter, a manhunt would have been launched and within 30 days he would have been caught and clamped into prison. As I talk to you now, this case has gone to the Supreme Court where it has been argued that the charge has not been properly served. How do you serve a charge when the person has been on the run and the court then says the charge should be served and published in national newspapers?”
ONGOING PROSECUTION
Meanwhile, the EFCC on Friday arraigned Bello on another alleged N80.2 billion fraud. The arraignment was however stalled due to the absence of his legal representatives in court.
The EFCC had earlier filed a 19-count charge against him, accusing him of conspiracy, money laundering,
breach of trust and misappropriation of public funds. His nephew, Ali, and two others, Dauda Suleiman and Abdulsalam Hudu were also charged alongside.
Justice Emeka Nwite of the Federal High Court, Abuja, had earlier issued an arrest warrant for Bello on April 17, 2024, following his repeated failure to appear for arraignment. He was subsequently declared wanted by the anti-graft agency in April 2024.
After exhausting legal avenues to evade arrest, Bello surrendered to the EFCC on Tuesday.
He was detained and scheduled to face trial on separate charges amounting to N110.4 billion before Justice Maryanne Anenih of the FCT High Court.
Marked: CR/7781, the charges alleged that the former governor misused state funds to acquire properties, including No 35 Danube Street, Maitama District, Abuja (N950 million), No. 1160 Cadastral Zone C03, Gwarimpa II District, Abuja (N100 million) and No. 2 Justice Chukwudifu Oputa Street, Asokoro, Abuja (N920 million).
Other properties the defendants allegedly acquired with funds stolen from the Kogi State treasury, included Block D Manzini Street, Wuse Zone 4, Abuja (N170 million), Hotel Apartment Community: Burj Khalifa, Dubai (Five Million, Six Hundred and Ninety-Eight Thousand, Eight Hundred and Eighty-Eight Dirhams), Block 18, Gwelo Street, Wuse Zone 4, Abuja, Block 18, Gwelo Street, Wuse zone 4, Abuja, (N60 million) and No. 9 Benghazi Street Wuse, Zone 4, Abuja, (N310.4 million).
He is also accused of transferring $570,330 and $556,265 to TD Bank, USA, and possessing unlawfully obtained property, including N677.8 million from Bespoque Business Solution Limited.
Justice Anenih ordered Bello and his co-defendants to be remanded in EFCC custody, pending the hearing of their bail application on December 10.
However, when Bello was brought before Justice Nwite on Friday for arraignment on the N80.2 billion charge, his legal team was absent.
EFCC counsel, Kemi Phinero, sought to proceed with the arraignment, but Bello informed the court that he was only notified of the proceedings late on November 28 and was unable to contact his lawyers.
Phinero said, “In view of his physical presence in court and relying on Sections 271-277 and Section 392 of the Administration of Criminal Justice Act (ACJA), I respectfully apply that the charge be read to the defendant, his plea be taken, and my lordship adjourn for further proceedings.”
Our sources privy to the negotiations said Bello, who goes by the moniker ‘White Lion’ was afraid for his life and wanted assurances that he would be treated fairly under the custody of the EFCC. “It was clear to them that Yahaya Bello was scared and worried that he would not get fair treatment with the EFCC considering their long infamous history. It took a while to convince him to surrender with assurances from Ribadu, AbdulRazaq and Olukoyede of his safety and fair treatment. Plenty back and forth and some phone discussions. That was how the deal was done,” one of our sources said, anonymously.
So, on Tuesday, November 26, six days after THEWILL’s exclusive report, the ‘White Lion’ arrived at the EFCC Abuja headquarters, surrendered and was subsequently detained.
Michael Ohiare, his spokesman had in a recent statement said Bello had, “all the while, only sought the enforcement of his fundamental rights in order to
He was detained and scheduled to face trial on separate charges amounting to N110.4 billion before Justice Maryanne Anenih of the FCT High Court.
Marked: CR/7781, the charges alleged that the former governor misused state funds to acquire properties, including No 35 Danube Street, Maitama District, Abuja (N950 million), No. 1160 Cadastral Zone C03, Gwarimpa II District, Abuja (N100 million) and No. 2 Justice Chukwudifu Oputa Street, Asokoro, Abuja (N920 million)
He referenced two Court of Appeal rulings, dated August 20, 2024, which upheld a defendant’s presence in court as satisfactory enough for his arraignment and further buttressed his position with the fact that Bello had failed to appear in court on several occasions, prompting an application for his trial in absentia.
The former governor argued that the case had originally been adjourned to January 21, 2025, and his counsel was likely unaware of the court’s decision to bring the date forward. In a brief ruling, Justice Nwite held that the absence of Bello’s legal representation necessitated a deferment to ensure justice.
“It would have been different if the defendant had no lawyer representing him. It is, therefore, my view that the interest of justice will be met by putting the defence counsel on notice about this abridgment of time,” the judge said.
Justice Nwite ordered that Bello’s lawyers be served with a hearing notice and adjourned the case to December 13 for further proceedings. He also directed that Bello remain in EFCC custody until the next court date.
Aliko Dangote, President, Dangote Group (left); Aigboje AigImoukhuede, Chairman, Access Holdings (third left); Antoine Armand, French Finance Minister (fourth left); President Bola Ahmed Tinubu (fifth left); President Emmanuel Macron of France (middle); Tony Elumelu, Group Chairman, United Bank for Africa (UBA) (fifth right); Leo Stan Ekeh, Chairman of Zinox Group (fourth right); Abdul Samad Rabiu, Chairman, BUA Group (third right); Dapo Abiodun, Governor, Ogun State (second right); Wale Edun, Minister of Finance and the Coordinating Minister of the Economy (right), and others after the Chairman of UBA Group signed a landmark business cooperation agreement with the French Finance Minister, during President Tinubu’s state visit to France.
NGO Launches Manual To Enhance Transitional Justice In Northeast
BY LADI DAPSON, MAIDUGURI
The Green Advocacy for Conflict Prevention and Resilience Building (GACRB) has launched a manual titled: “Sulhu Sai DaAdalci” (Reconciliation Requires Justice), as part of its efforts to promote transitional justice in Northeast Nigeria.
Speaking at the launch ceremony on Thursday, the Executive Director of GACRB, Professor Mala Mustapha, said the manual was designed to facilitate local-level dialogue and reconciliation in communities affected by the Boko Haram insurgency.
According to him, “The recent changing context and dynamics of the insurgency necessitated the need for facilitating local-level dialogue and reconciliation leveraging on Sulhu as a traditional justice mechanism to change community misconception and negative narratives as a pathway to ending the conflict cycle and sustainable peace.”
He further noted that the manual, which is the first to be published by GACRB, is expected to strengthen the knowledge capacity and skills of beneficiaries, to become community-based peace interlocutors.
Explaining the group’s funding, Mustapha said, “GACRB is one of the sub-grantees and beneficiaries of the Africa Transitional Justice Legacy Fund (ATJLF) legacy phase funding initiative.”
He revealed that the Organisation intends to train 100 cohorts of community stakeholders in Borno, Adamawa and Yobe States in the coming weeks
“It will also include the selection of 60 participants, who will undergo a 6-month certification course on transitional justice, employing a “Training of Trainers” model.
“Graduates will conduct step-down training in nine selected communities across the three states, promoting dialogue and rebuilding trust in the
aftermath of insurgency”, Mustapha added.
Other components of GACRB’s according to him is the transitional justice work which include partnering with the National Human Rights Commission (NHRC), to establish a Sexual Offender Register and sponsoring radio jingles to raise awareness on the importance of registering with the National Social Register to access reparations.
The Commissioner of Information and Internal Security, Prof. Usman Tar, represented by the Special Adviser on Security to the Governor, Gen. Abdullahi Ishaq (rtd), stated that the GACRB project aligns with the Borno Model for for peace, reconciliation and development as well as the programme of DDRR for ex-Boko Haram combatants.
“We are happy to collaborate with GACRB on this project, which aims to address challenges such as community resistance, reintegration efforts and
equip youth with alternative narratives to prevent radicalisation. Above all, we aim to develop a framework for TJ and nurture a critical mass of TJ professionals to support the process”, added Prof. Tar.
The project is expected to bring forth an enhanced local-level dialogue, improved community ownership of transitional justice processes and the creation of a sustainable framework for peacebuilding in Borno State and the North East region.
The event was attended by many stakeholders including the Executive Secretary of Security Trust Fund, Alhaji Shettima Ali Marte; State Coordinator, National Human Rights Commission, Barr Jummai Mshelia and Prof. Adam Ajiri of the University of Maiduguri, General Manager, Peace FM Radio, Hajiya Fatima Audu Yusuf and among many others.
Army Releases Investigative Journalist Fisayo Soyombo
BY FELIX IFIJEH
The Nigerian Army has released investigative journalist, Fisayo Soyombo.
Earlier, the army said Soyombo was arrested along with other individuals at an illegal oil bunkering site during an operation against oil theft and pipeline vandalism in the Niger Delta region.
However, the Foundation for Investigative Journalism (FIJ) which confirmed his release, said it would address the allegation appropriately.
“We can confirm that our founder, ‘Fisayo Soyombo, has now been released by the Nigerian army, following the intense media campaign you
all mounted.
“FIJ acknowledges the Nigerian Army’s deliberate mischaracterisation to suggest an involvement in “illegal oil bunkering”. FIJ will also address this statement appropriately.
“Our immediate concern is regarding the safety of ‘Fisayo Soyombo in view of extensive information sharing with the Army on his fieldwork during the period of his detention. We are assessing the situation and hoping that his safety will not be jeopardised after release”, FIJ said in a statement on Friday night.
R-L: Mr. Frank Aigbogun, Publisher of Business Day Nigeria, presents the Person of the Year Award to Founder and CEO of Aiteo Group, Benedict Peters (represented by the Group Managing Director of Aiteo Eastern Exploration and Production Company Limited, Mr. Victor Okoronkwo), during the ceremony held at the Balmoral Centre, Victoria Island, Lagos.
Nigeria, France Sign €300m Deals on Infrastructure, Agriculture, Food Security
BY FELIX IFIJEH
Nigeria and France have signed a partnership on the development of critical infrastructure and the long-term sustenance of agriculture and food security, worth €300 million. A press statement issued on Friday by Wale Onanuga, the Special Adviser to the President on Information and Strategy, said President Bola Tinubu and French President, Emmanuel Macron, signed the two agreements on Thursday in Paris, France.
Earlier, President Tinubu and President Macron witnessed the signing of the agreement by the United Bank for Africa (UBA) Group Chairman Tony Elumelu and Mr. Antoine Armand, the French Minister of Economy, Finance and Industry for the bank to commence operations in Paris. Zenith Bank also inaugurated its services in the country during the visit.
The partnership agreements were signed at an economic forum attended by businessmen, captains of industry, governors, and some top government officials of both countries at the Palais des Elysée in Paris, France, during President Tinubu’s state visit. Nigeria’s Minister of Finance and Coordinating Minister of the Economy, Mr Wale Edun, and Mr Armand, signed the Letter of Intent.
The document read, “The two countries affirmed their commitment to work together on investment and development of critical infrastructure, healthcare transportation, agricultural value chain, renewable energy, and human capital development, through diverse financial and technical assistance programmes, of over Euros 300 million spread across all geopolitical zones in the country.
“The two countries committed to forge a strategic relationship in project implementation and enhance mutual trade
and cross border services by removing fiscal barriers while protecting labour rights.”
Onanuga said the Minister of Finance, Edun, and Chief Executive Officer of the French Development Agency (AFD), Mr Remi Rioux, signed another Letter of Intent to support the Renewed Hope Agenda reforms designed to stimulate and strengthen the economy.
“The Declaration”, the document stated “set out the enduring relationship between the AFD and the FRN, and the AFD’s continuing commitment to support the socio-economic growth of Nigeria through financing sustainable projects in urban infrastructure development, transportation network, housing infrastructure, human capital development through improved education specifically in STEM, agriculture, food security and healthcare.
“The AFD reaffirmed its commitment to long-term support of the Renewed Hope Agenda of Mr President on energy access and transition, sustainable agriculture and food security by financing the improvement of agro-logistic hubs. Importantly, the AFD committed to supporting the real sector by providing capital from MSME in high-impact sectors.
“The Federal Republic of Nigeria also affirmed its support for the projects financed by the AFD and committed to ensure that the implementation of the projects are expedited efficiently.”
Tinubu Approves Funds for UNESCO Media Institute in Nigeria
President Bola Ahmed Tinubu has approved the release of funds required for the immediate operationalization of the UNESCO Media and Information Literacy (MIL) Institute, whose hosting rights were awarded to Nigeria by the United Nations Educational, Scientific and Cultural Organisation (UNESCO), the Minister of Information and National Orientation, Mohammed Idris, has announced.
Idris stated this in Paris on Thursday during a meeting with the UNESCO Assistant DirectorGeneral for Communication and Information, Dr. Tawfik Jelassi, on the sidelines of President Tinubu’s State Visit to France.
“President Bola Ahmed Tinubu has been very supportive of the take-off process, and has approved the release of all funds required for the immediate operationalisation of the Institute, which will be located in the Federal Capital Territory,” Idris said.
Recalling his previous meeting with Dr. Jelassi, in
2023, the Minister conveyed Nigeria’s gratitude to UNESCO for the honour of hosting a Category 2 MIL Institute, the only one of its kind in the world. In response, Dr. Jelassi expressed enthusiasm for the take-off of the Institute in Nigeria, emphasizing its relevance in addressing the global challenges of misinformation, disinformation, and hate speech. He also highlighted the importance of fostering a safer and more reliable internet, which aligns with UNESCO’s key priorities.
systems, community activities, culture, billboards, and so on.
Minister Idris welcomed the initiative and pledged to ensure that Nigeria takes prompt advantage of it, and presents a city that will be among the world’s inaugural set of MIL Cities.
He explained that the goal of UNESCO’s new Guidelines for the Governance of Digital Platforms is to promote critical thinking and platform transparency, whilst also safeguarding freedom of expression.
Additionally, the Assistant Director-General informed the Minister about the UNESCO MIL Cities initiative, which seeks to integrate and embed the concept of Media and Information Literacy into the design and daily operations of cities around the world, including transport
Discussions also touched on UNESCO’s new Guidelines for the Governance of Digital Platforms, published in 2023 following a multistakeholder consultation that assembled over 10,000 submissions from 134 countries. Dr. Jelassi presented copies of the document to Minister Idris, who assured that Nigeria will work with all relevant stakeholders to domesticate the guidelines and ensure a safer and more responsible internet for all Nigerians.
Minister Idris was accompanied to the meeting held at the UNESCO Headquarters by Nigeria’s Ambassador and Permanent Delegate to UNESCO, Dr. Hajo Sani OON.
Legal Twists and Turns Dominate APGA Chairmanship Tussle
n March 24, 2023, a judicial panel comprising five judges of the Supreme Court delivered a final unanimous judgement upholding Chief Edozie Njoku as the National Chairman of the All Progressives Grand
The apex court affirmed that the purported removal of Chief Njoku by the High Court of Birnin Kudu in Jigawa State was not justiciable, referring to many similar Supreme Court authorities. Then, in a new twist, the apex court, on Wednesday, November 27, 2024, restrained Chief Edozie Njoku from parading himself as national chairman, All
The panel, led by Justice Stephen Adah, affirmed the emergence of Sly Ezeokenwa, an aide to Governor Charles Soludo of Anambra State, as the authentic National Chairman
The apex court, in two unanimous judgments, held that Njoku was wrongly laying claim to the party’s chairmanship position. INEC, which was a party to the suit, had refused to obey the first judgment of the Supreme Court, despite receiving a direct service of the enrolled order of the judgement by the Chief
Worried by this turn of events, two members of the National Working Committee of APGA approached the FCT High Court 40, Bwari, to seek the enforcement of the Supreme Court judgement as provided by the 1999 Constitution as amended, that any court of record below the Supreme Court has the mandate to enforce the judgement of the Supreme
In the course of trial, the court ruled on a motion and ordered that no party to the suit before it should conduct congresses, conventions and primaries, pending the determination of the Chief Victor Oye, in defiance of the court order, proceeded to conduct a convention of the party at Awka in Anambra was elected as National Chairman of APGA.
The Njoku-led APGA promptly filed forms 48 and 49 to commit Chief Victor Oye and Prof Yakubu Mahmood, the Chairman of INEC, to the Correctional Centre for contempt of court.
Justice Magudu of the FCT High Court 40, Bwari delivered judgment on June 6, 2023 in favour of Chief Edozie Njoku and members of his National Working Committee as the authentic leadership of APGA in enforcement of the Supreme Court judgment.
A few months later, Justice Magudu convicted Prof Yakubu Mahmood and Chief Victor Oye for contempt of court, but he delayed sentencing to allow the contemnors the latitude to purge themselves of contempt.
Chief Oye again proceeded to the Court of Appeal to challenge both the judgement on the substantive matter of the enforcement of the Supreme Court judgment and the judgment on contempt of court.
On June 26, 2024, a three-man panel of the Court of Appeal resolved all the 10 grounds of appeal in favour of APGA under Chief Edozie Njoku as National Chairman. It was after the unanimous judgement of the Court of Appeal that INEC finally complied with the Supreme Court judgement, which enforcement was affirmed by the Court of Appeal.
Chief Victor Oye and Mr Sly Ezeonwuka continued to the Supreme Court to challenge the judgement of the Court of Appeal. On November 4, 2024 a five-man panel of judges of the Supreme Court heard the suits and motion presented to it. The apex court reserved judgment on a date to be communicated to all parties.
Delivering judgement, Justice Adah held that the earlier judgment on the appeal marked: SC/CV/687/2021, delivered on Oct. 14, 2021, which was corrected on March 24, 2023, and on which Njoku purportedly paraded to lay claim to APGA
“
It is unfortunate. Money has been spent and the party’s structures destabilised just because of someone’s selfish and inordinate ambition. The judgements today have affirmed the convention that brought us to office and that we are in charge of the running of the party’s affairs
leadership, did not confer on him any enforceable rights.
He held that in the 2021 judgment, only declaratory reliefs were granted, which were not executory. He also held that there was no order or orders in the 2021 judgment to be executed.
Justice Adah noted that in the earlier judgment, the Supreme Court particularly held that issue of party’s leadership or who becomes the chairman of a political party was internal affairs of a political party and was not justiciable, adding that it was
wrong for Njoku to have gone before the lower court to seek enforcement of a judgement that had nothing to be enforced as no executory reliefs were granted.
Justice Adah, who blasted the judges of the trial court and the Court of Appeal, who declared Njoku chairman of APGA then proceeded to set aside the judgement delivered by the Court of Appeal in Abuja on June 28, 2024, affirming the judgment of the High Court of the Federal Capital Territory (FCT), which had declared Njoku chairman of APGA.
The judgment in both appeals were applied to the third appeal, relating to the same issue of APGA leadership.
The apex court, therefore, awarded N20 million on each appeal against two members of Njoku’s faction (who are listed as 1st and 2nd respondents), bringing the total cost awarded in the three appeals to N60 million.
THEWILL recalls that Njoku’s faction had argued that he emerged the party’s National Chairman at a convention that was held in Owerri, Imo state capital, six years ago. But the National Executive Committee, NEC, of the party alongside erstwhile Chairman, Victor Ume, voted against the outcome of the Imo convention, arguing that it lacked the authority of stakeholders. That disagreement plunged the party into a long-drawn crisis, especially after another convention held on June 1, 2023 in Awka, the Anambra state capital and attended by Governor Charles Soludo as leader of the party and Umeh’s led NEC, produced 28-year old Ezeokenwa.
In July 2024, the Independent National Electoral Commission (INEC) recognised Njoku as the national chairman. The electoral body said it relied on a court order to do so.
Reacting to the judgements, victorious Ezeokenwa commended the judiciary for effectively putting an end to the leadership dispute in the party and affirming him as the National Chairman of the party.
He said that with its erudite judgements, given on Wednesday, the court had once again proved that “it is indeed, the hope of the common man. We should not always be saying bad things against the judiciary. Today, I am very proud of our judiciary as the last hope of the common man. Like I have always said, our judiciary will always come through to save our nation when the need arises.
“That is what it has done today with the erudite judgements delivered today by the Supreme Court concerning the leadership of our party. Like our lead counsel, Onyechi Ikpeazu, SAN said, what ought not to have taken place was created and has been dragged up to the Supreme Court.
‘It is unfortunate. Money has been spent and the party’s structures destabilised just because of someone’s selfish and inordinate ambition. The judgements today have affirmed the convention that brought us to office and that we are in charge of the running of the party’s affairs.
“So, there is no longer speculation or doubt about the actual leadership of APGA. By the judgements, I, Barrister Sly Ezeokenwa have been affirmed as the Chairman of APGA,” he said.
It is unclear whether this legal conclusion will put an end to the endless crisis in the party. Hours before the apex court ruling, founder and Chairman of the Board of Trustees of the party, Chief Chekwas Okorie, said that the party had petitioned the Nigeria Judicial Council to discipline Justice Omotosho for re-interpreting a previous apex court ruling affirming Njoku’s leadership.
Unfortunate NAF Airstrike on Civilians
For the third time in three years, the Nigerian Air Force, NAF, has mistakenly killed civilians in the ongoing war against terrorism in the country. Communities in Nasarawa, Kaduna and Katsina states appear to bear the brunt of this error in the prosecution of the anti-terrorism fight.
of the Commissioner’s view, however left a window of doubt that confirmed the views of local sources
Given the tricky terrain that gives cover to terrorists, lack of robust civilian cooperation and possibility of sabotage, it is very likely that such tragedies as had been witnessed in the affected communities in the three states complicates the war against terrorism in the country
The latest victims are the residents of Shuwa Village, Ruwan Godiya District in Faskari Local Government Area of Katsina State.
According to reports, an NAF airstrike on Thursday, November 21, 2024 left some civilians killed and others injured during military operations targeting terrorists.
The strike, which occurred early on that Thursday morning, was reportedly targeted at neutralising bandits terrorising the region. However, local sources claimed that the operation mistakenly hit civilians.
Shawu Village has reportedly become a hotbed for kidnapping and banditry, further complicating military operations in the region.
Reacting to the incident, however, Katsina State Commissioner for Internal Security, Dr Nasiru Mu’azu, debunked eye-witness accounts from local sources and refuted claims of accidental bombing.
Mu’azu emphasised that the operation was a precision strike, targeting known bandit hideouts in the area, adding that Shawu is a stronghold for bandits and criminals.
The view of the Chairman of the LGA, Musa Ado Faskari, though supportive
He said, “The airstrike was precise because bandits had infiltrated the community. While it is unfortunate that innocent lives were lost, many residents had already fled Shawu due to the overwhelming presence of criminals.” It is unfortunate that the airstrike claimed the lives of the same people that the Nigerian Air Force sought to protect. Could these innocent citizens have been saved if thoroughness, which is a key factor in targeting objects, was observed?
Last year similar incidents happened in Nasarawa and Kaduna States.
In January 2023, dozens of Nigerian citizens, mainly herders, died in an aerial bombing incident in a central part of Nasarawa as they unloaded cattle retrieved from security agencies in a neighbouring state. After much initial denial, the NAF in January 2024, a year later, admitted the error and publicly announced that it regretted the tragic incident.
The Chief of Air Staff, Air Marshal Abubakar, noted that the unfortunate incident was not deliberate but the NAF had targeted suspected terrorists and cattle rustlers in view of the heightened level of insecurity in the area at the time.
In a similar incident, towards the end of 2023, civilians were killed in Kaduna State, following a military drone attack targeting insurgents and bandits, according to the Governor Uba Sani, religious leader and witnesses.
According to Sani, Muslims taking part in Eid-el Maulud celebrations in Tudun Biri village “were mistakenly killed and many others injured following a military drone attack targeting terrorists and bandits”.
Although Sani gave no indication of the numbers involved, a religious leader put the figure of the dead at 50 dead and two witnesses said 80 had been killed.
“The General Officer Commanding One Division Nigerian Army, Major VU Okoro, explained that the Nigerian Army was on a routine mission against terrorists but inadvertently affected members of the community,” Samuel Aruwan, Kaduna’s Internal Affairs Commissioner said in a statement after an emergency security. meeting.
Given the tricky terrain that gives cover to terrorists, lack of robust civilian cooperation and possibility of sabotage, it is very likely that such tragedies as had been witnessed in the affected communities in the three states complicates the war against terrorism in the country.
There is, however, no excuse for recurrence. When it keeps recurring, there is cause for concern and the imperative to ask that more diligence should be applied in prosecuting airstrikes in the war against terror. While canvassing for more intelligence on the part of our security agencies, we call for thorough investigation to establish why these tragedies keep recurring. The situation calls for drastic action by the defence authorities.
OPINION
Media, Democracy and the Public Interest
ABIODUN KOMOLAFE
here has been another addition to President Bola Tinubu’s media team. The President has also restructured his media team in a bid to “enhance efficiency within the government’s
MEDIA OUTLETS STRUGGLE TO STAY AFLOAT, COMPROMISING THEIR INDEPENDENCE, PATRONAGE AND SPONSORSHIP COME WITH STRINGS ATTACHED, STIFLING OBJECTIVE REPORTING AND THE PUBLIC VIEWS MEDIA CONTENT WITH SKEPTICISM, ERODING TRUST IN INSTITUTIONS. HOW THEN CAN THE MEDIA RECLAIM ITS ROLE AS A WATCHDOG, HOLDING THOSE IN POWER ACCOUNTABLE AND FOSTERING A MORE INFORMED, ENGAGED CITIZENRY?
Well, we are not here to look into the costs and benefits of this new addition at a time when Nigerians government and the implementation of the Oronsaye Report on the cost of governance. Our focus is on the strategic relationship between Politics, as Italian philosopher Antonio Gramsci noted, involves shifting the territory of discourse to advance one’s project. In a democratic setup, the government employs this principle – shifting the territory of discourse - to present its stance and persuade the public. Therefore, it is our considered opinion that, in a very difficult economic dysfunction, Tinubu should have emulated the British Prime Minister James Harold Wilson, who on getting elected in a very difficult economic crisis in 1964, chose as his Chief Media Spokesman, not a traditional media spokesperson but a young Economics professor to carry the public along as brutal decisions had to be made to navigate the crisis. It was a game-changing appointment!
That said, the government’s response to the economic crisis, caused by decades of policy mishaps and ill-advised decisions, is necessary and inevitable. However, while this response brings short-term pain,
To address this, a democracy facing economic turmoil needs a constant, clear explanation of the situation and the importance of reforms. These “explainers” should emphasise how reforms benefit the majority of working individuals and their families. The government must now concentrate on the team of explainers, as consistent and clear messaging is crucial for building public trust and understanding.
The Bola Tinubu Administration must now determine the territory of the debate rather than adopting a perceived reactive position. This is what governments in very difficult economic circumstances have always done and indeed, expected to do. New forms of messaging must be explored in a creative and
imaginative pursuit of wooing the audience and in the process capturing and moulding hearts and minds.
As the Canadian communication theoris, Marshall McLuhan notably argued, “The medium is the message.” The government must determine a cost-effective medium to use for its messaging explainers and constant reminders. A review of strategy, methods, and effectiveness must be carried out. This is very important for a country at a critical juncture like ours. Resorting to insults and profanity may bring momentary comfort, but it accomplishes nothing meaningful and can have devastating repercussions.
Daron Acemoglu, Turkish-American economist and 2024 Nobel Memorial Prize in Economics winner noted in ‘Why Nations Fail’, that nations must navigate critical junctures. Nigeria at a pivotal moment presents the Tinubu-led government with a historic opportunity to redefine the country’s political economy and be interpreted as the game-changing administration. To achieve this, the government must engage the majority and build a lasting national consensus. This requires revitalising messaging and the positive redirection of the territory of the debate to support its visionary project.
The relationship between democracy and the press is a sacred one. As the fourth estate, the press promotes democratic values like freedom, equality, and justice. Ideally, it acts as a catalyst for change, barking loudly when those in power overstep their boundaries. However, when the press becomes beholden to special interests or political ideologies, it can create an echo chamber amplifying misinformation and drowning out dissenting voices. When the delicate dance turns into a tug-of-war between the pursuit of truth and the pursuit of profit, the tension can lead to a watered-down version of the truth, where sensationalism reigns supreme and fact-checking takes a backseat.
It also needs to be noted that the power of the press is a double-edged sword – it can either uphold or undermine democracy, depending on how it is wielded. When the press is free to report the truth without fear or favour, democracy flourishes. But when the press is compromised or manipulated, democracy suffers. It’s a simple equation, but one that requires constant vigilance to maintain. As citizens, it’s our responsibility to ensure that the press remains a force for good, holding those in power accountable and providing us with the truth, no matter how uncomfortable it may be. Presently, the Nigerian media landscape is a complex web of economic struggles, government influence, and the quest for survival. Unfortunately, the media has been browbeaten into submission, forced to prioritise government patronage over objective reporting. Media owners and practitioners are caught between a rock and a hard place, desperate to stay afloat amidst an economic crisis. The allure of government adverts and sponsorships is too great to resist, even if it means injuring journalistic integrity.
In this precarious environment, social media has emerged as a beacon of hope, offering a cheaper and relatively punishment-free alternative. However, traditional media outlets remain terrified of losing government patronage, which could spell financial disaster. The example of Lagos-Abeokuta Road, a death trap that’s been ignored by mainstream media, highlights the consequences of this fear. TVC, for instance, cannot afford to lose the one-hour programme sponsored by the Ogun State Government. This predicament raises fundamental questions about the role of media in a democratic society. Take, for instance, how can journalists maintain objectivity when their livelihoods depend on government’s favour? The economic crisis has only exacerbated this issue, as companies slash advertising budgets and media outlets scramble for scraps. The situation is dire, with industrial firms pulling out and leaving Nigeria’s media landscape impoverished. Media outlets struggle to stay afloat,
Nigeria’s Economic Reforms and Outlook for Year 2025
BY KENECHUKWU AGUOLU
There have been divergent opinions about the economic policies adopted by the administration of President Bola Tinubu since it came into power on May 29, 2023. Those opposing the policies can be categorised into two groups: those who are ignorant about the workings of the policies but are genuinely concerned about the short-term hardships they have caused, and opposition parties and their followers who have decided to oppose any policy introduced by this government. The President has repeatedly stated that he was aware of what Nigerians were going through.
One striking observation is that many of those opposing the economic reforms of this government are suggesting a return to the status quo—reversing the removal of fuel subsidies and the floating of the naira. This suggestion is absurd, as these policies are the very ones that have destroyed the Nigerian economy over the years. Trillions of naira that could have been used for building infrastructure, improving healthcare and education, enhancing the military capabilities of the Nigerian security agencies, and funding research and development were spent on fuel subsidies and defending the naira.
When President Tinubu assumed office, the country was in dire straits - high levels of insecurity, poor infrastructure development, a debt service-to-revenue ratio as high as 97 per cent, a forex backlog of $7 billion, and many state governments struggling to pay salaries. The Nigerian economy was in a state of comatose and in need of radical reforms. During his national broadcast on the occasion of Nigeria’s 64th Independence Anniversary on October 1, 2024, Tinubu stated that Nigeria must either reform for progress and prosperity or continue business as usual and risk collapse. It is common sense that to achieve different results, things must be done differently.
The International Monetary Fund and World Bank have commended the economic policies of this administration and emphasised the need for them to be sustained. The good news is that the reforms have already started yielding results. The Federal Government has commenced the implementation of a national minimum wage, with state governments following suit at varying rates. Insecurity levels have dropped, students are benefiting from a student loan scheme, the inherited forex backlog has been cleared, the debt service-to-revenue ratio has fallen to under 70 per cent, foreign direct investments worth over $30 billion
have been recorded in the past year, and the nation’s foreign reserves have risen to $40 billion. These are indicators of progress.
BUSINESSES WILL THRIVE IN 2025, LEADING TO HIGHER EMPLOYMENT RATES AS HOUSEHOLD CONSUMPTION RISES AND THE COST OF DOING BUSINESS DECREASES. ADDITIONALLY, THE IMPACT OF THE CURRENT ADMINISTRATION’S EFFORTS TO DIVERSIFY THE ECONOMY, IMPROVE INFRASTRUCTURE, AND ENHANCE SECURITY NATIONWIDE WILL FURTHER BOOST ECONOMIC ACTIVITY IN 2025
In 2025, with oil production expected to hit 2 million barrels per day and domestic refining capabilities improving, the value of the naira is likely to strengthen, creating a positive multiplier effect on the cost of goods and services. The living standards of Nigerians will improve as their purchasing power increases and inflation drops. Businesses will thrive in 2025, leading to higher employment rates as household consumption rises and the cost of doing business decreases.
Additionally, the impact of the current administration’s efforts to diversify the economy, improve infrastructure, and enhance security nationwide will further boost economic activity in 2025. These projections are based on the assumption that there will be no major pandemics or other crises locally or globally.
•Aguolu is a Project Manager and Business Analyst. You can contact him on kenerek1@gmail.com
Equities Market: Investors Reap
N18.1trn on Robust 30.4%
Y-t-D Index Growth
Equity investors raked in N18.1 trillion in the first eleven months of the year as investor confidence became more robust in the bouncing Nigerian stock exchange during the trading days
The Nigerian stock market commenced 2024 with a strong 35.28 per cent growth in January, setting the tone for a year of mixed performance. The listed equity market experienced alternating months of growth and decline, the steepest drops occurring in April (-6.06 per cent) and July (-2.28 per cent). Despite these setbacks, the market showed resilience with recoveries in March, May, June, and September.
In an impressive twist of events, the market closed positively in November, with N59,107 trillion posting a 44.45 per cent capitalization gain which points to a sustained bullish year-end.
The NGX All Share Index (NGX-ASI) grew by 30.4 per cent rising from 74,773.77 on December 29, 2023, to 97,506.87 as of November 29, 2024. This growth was driven by growing investor confidence and the listing of Transcorp Power Plc and Araded Holdings which raised market capitalisation and investor sentiment.
EDITOR Sam Diala
Jobless GDP Growth Compounds Manufacturers’ Woes
BY SAM DIALA
The 3.46 per cent (year-on-year) Gross Domestic Product, GDP, growth recorded by the Nigerian economy in the third quarter (Q3) of 2024 shows little impact on manufacturing, a major player in the real sector.
The National Bureau of Statistics (NBS) reports that the nation’s GDP growth rate of 3.46 per cent (y-on-y) in real terms in Q3 2024 was higher than the 2.54 per cent recorded Q3 2023 and, also, higher than Q2 2024 growth of 3.19 per cent.
According to NBS, the performance of the GDP in Q3 2024 was driven mainly by the services sector, which recorded a growth of 5.19 per cent and contributed 53.58 per cent to the aggregate GDP. The agriculture sector grew by 1.14 per cent, from the growth of 1.30 per cent recorded in Q3 2023.
The statistical bureau further reported that the growth of the industry sector was 2.18 per cent, an improvement from 0.46 per cent recorded in Q3 2023.
In terms of the share of the GDP, the services sector contributed more to the aggregate GDP in Q3 2024 compared to the corresponding quarter of 2023.
Requiem for manufacturing
However, the narrative is different for manufacturing whose contribution to GDP shrunk to the lowest in four years in the first nine months of 2024 as operators battle to stay afloat amid rising operating costs, data from NBS shows.
The sector’s contribution to the GDP in Q3 2024 declined to 8.21 percent from 8.42 percent in the corresponding period of 2023. The sector in Q3 2024 contributed 8.59 percent and 8.42 percent to the GDP in Q3 2022 and Q3 2021, respectively.
Analysts at FBNQuest Capital Research said in a note that the sector’s progress has been constrained by multiple macro-headwinds, including the adverse impact of high inflation on household wallets and operating costs, high-interest environment, and naira volatility.
“The sector posted another sluggish growth,” the Analysts said, noting that several multinational companies have exited the Nigerian market due to the tough business environment.
The Central Bank of Nigeria (CBN) last week raised its benchmark interest rate by 25 basis points to 27.50 percent as manufacturers still struggle with the high interest rate amid rising production costs.
Muda Yusuf, chief executive officer, of the Centre for the Promotion of Private Enterprise (CPPE) said it is troubling that despite the declining growth performance of many critical sectors of the economy as evidenced in the third quarter GDP report, the Monetary Policy Committee (MPC) continued its tightening stance.
Mixed challenges
Earlier, MAN had revealed that the inventory of unsold products in the manufacturing sector rose to N1.24 trillion in the first half of 2024 from N272 billion in the same period of last year, MAN’s latest halfyearly review report shows.
The manufacturers association attributed the rising unsold products to low consumer spending, weaker naira, and the impact of the subsidy removal.
“The high levels of unsold inventories reflect the challenges faced by consumers and the need for interventions to stimulate demand and improve the sector’s performance,” the report said.
The manufacturing sector employment generation capacity continued to decline, with only 2,606 jobs created in H1 2024, a 29.99 percent reduction from H2 2023.
Job creation fell by 37.83 percent yearon-year, reflecting the ongoing challenges within the sector, including economic uncertainties, inflationary pressures, and an unfavourable business environment.
According to the report, some sectors showed resilience and growth, while others struggled with declining production values, and reduced employment.
Capacity utilisation in Nigeria’s manufacturing sector showed a slight decline year on year from 56.5 percent in H1 2023 to 56.4 percent in H1 2024 however there was a 2.8 percent increase compared to H2 2023, reflecting some recovery.
“The sector also faced significant challenges, including high energy costs due to a 200 percent increase in electricity tariffs, forex scarcity, and declining consumer demand.
“These factors collectively resulted in elevated operational costs and a difficult business environment for manufacturers,” said the report.
In real manufacturing production value, Nigeria’s output declined by 1.66 percent year-on-year in H1 2024, falling from N1.36 trillion in H1 2023 to N1.34 trillion.
The manufacturers also lament that rising electricity tariffs, exchange rate volatility, and higher energy costs, which heightened production costs amidst declining consumer demand and the persistent increase in interest rates by CBN strained the sector.
An increase in electricity tariffs by over 200 percent imposed by DisCos significantly raised the cost of electricity for manufacturers, and the ongoing power outages placed additional financial strain on the sector.
The cost of providing alternative power continued to rise, with manufacturers spending N238.31 billion on alternative energy sources in H1 2024, a 7.69 percent increase from H2 2023.
According to the report, the surge in costs was driven by higher prices for diesel, gas and other energy sources and the need for manufacturers to invest in self-energy generation due to unreliable power supply from the national grid.
Continues on page 15 Continues on page 15
BUSINESS WEEKLY
Jobless GDP Growth Compounds...
Financial pains
The MAN had disclosed that 16 major manufacturing firms suffered losses amounting to N792 billion between 2023 and 2024.
According to data from the companies’ annual reports, Nigerian Breweries spent N173.4 billion on loan repayments in H1 2024, however, a decline from N189.7 billion spent in the first half of 2023. BUA Cement spent N114.3 billion on repaying loans which occurred as term loans, overdrafts, and debt securities.
Notore Chemical Industries spent about N104.4 billion in interest payments during the half-year, in contrast with N33.1 billion spent on principal and interest payments in H1 2023.
Nestle Nigeria spent N77.3 billion on repaying some of its bank loans even as the company received about N69.2 billion in new loans during the half-year. International Breweries spent about N598 million on paying back loans in the first half of 2023, however, this figure ballooned to about N69.7 billion in the first half of 2024.
Way out
Odiri Erewa-Meggison, chairman of the Manufacturers Association of Nigeria Export Promotion Group (MANEG), said that the potential consequences of the decline to the economy arising from the shrinking manufacturing sector are numerous.
These range from unemployment, loss of revenue to the government in terms of taxes, social vices from the
unemployed youths, increased crime rate, and increase in poverty between the rich and the poor or vulnerable.
Erewa-Meggison said the ways to mitigate these consequences to boost the sector’s contribution to the GDP are
...Investors Reap N18.1trn...
if the necessary interventions are put in place by the federal government.
“These include; lowering the cost of borrowing and energy, curbing the problems of insecurity, providing the infrastructure and stabilising the exchange rate,” she said.
“To expedite the implementation of existing incentives targeted at boosting the manufacturing and export value chain,” she added.
The manufacturing sector comprises thirteen activities: oil refining; cement; food, beverages, and tobacco; textile, apparel, and footwear; wood and wood products; pulp paper and paper products; chemical and pharmaceutical products; non-metallic products; plastic
and rubber products; electrical and electronic; basic metal and iron and steel; motor vehicles and assembly; and other manufacturing.
Erewa-Meggison observed that the sector can still contribute meaningfully to economic growth by creating jobs for the youths. According to her, “Even with the inadequate level of performance, the sector is the highest on employment generation and contribution to government revenue through tax payment of both company income tax and personal income tax paid by employees of the manufacturing sector.
“Since Nigeria is dependent on oil exports, if manufacturers can expand then it will create an avenue for other sources of income that will contribute to economic growth.”
The MAN reports underscore the urgent need for Nigeria to implement decisive and coherent economic reforms to address these challenges that Nigeria’s manufacturing sector faced in the first half of 2024.
The success of these reforms will be crucial in reversing the current economic downturn, creating jobs, reducing inflation, and improving the overall welfare of Nigerian citizens, the reports stated.
“The key areas of focus include enhancing policy consistency, improving the business environment, and fostering economic diversification.”
The Nigerian equity market saw a robust 39.84% growth in Q1 2024, rising from 74,773.77 to 104,562.06.
However, the second and third quarters witnessed modest corrections, with declines of -4.31% in Q2 and -1.50 per cent in Q3.
Despite the smaller decline in Q3, investors are cautiously optimistic. They expect a modest bullish turnaround in Q4, encouraged by improving sentiment and probable policy adjustments.
On the last business day of November, the Nigerian equities market saw a significant decline in trading activity on November 29, 2024, as trading volume dropped by 18.5 per cent. A total of 515 million shares changed hands, down from 632 million in the previous session.
Among the day’s notable performers, HMCALL stood out as the top
The Chartered Institute of Taxation of Nigeria (CITN) will host a one-day workshop to enhance the knowledge of media practitioners and finance reporters, particularly
gainer, surging by an impressive 9.54 per cent. Close behind, ROYALEX gained 8.77 per cent, while SOVRENINS completed the top three with a solid 7.35 per cent increase.
On the downside, REGALINS emerged as the day’s biggest loser, shedding 9.80% of its value. LASACO trailed closely, dropping 9.75 per cent.
In summary, regarding the performance of NGX market indices, the benchmark NGX All-Share Index (ASI) shed 276.94 (-0.28 per cent) points to close at 97,506.87, representing a 1-week loss of 0.33 per cent, a 4-week gain of 0.08 per cent, and an overall yearto-date gain of 30.4 per cent. Continues from page 15
Notably, FBNH and HMCALL were the most actively traded stocks of the day, signaling sustained investor interest.
Tax Reforms: CITN Holds Workshop for Finance Journalists
members of the Finance Correspondents Association of Nigeria (FICAN).
Coming on the heels of prevailing tax reforms, the workshop, scheduled for Wednesday, December 4, 2024, at 9:00 a.m., aims to improve journalists’ understanding of taxation terminologies and contemporary issues, equipping them to be better inform and to educate the public on emerging tax matters.
The capacity-building session, designed to be both educative and interactive, will commence with a Press Briefing by the CITN President, Mr. Samuel Agbeluyi, mni, FCTI. Additionally, three resource persons will present papers on the following topics: Basic Taxation Terminologies; Tax Administration and Practice for Beginners; and Tax Reporting for Media Practitioners.
In a joint statement signed by FICAN’s National Chairman Mr. Chima Nwokoji, and Prof. Godwin Oyedokun, Chairman, CITN Committee on Branding, Publicity, and Publications, the
workshop was described as a platform to deepen journalists’ understanding of tax-related issues and enhance the quality of tax reporting in Nigeria.
“It promises to be highly interactive. The occasion will be used to institute an annual award for the Best Tax Reporter/Correspondent of the Year. Certificates will be issued to participants who will also receive the Institute’s memorabilia,” the statement highlighted.
This initiative reflects CITN’s commitment to capacity building and its recognition of the vital role media practitioners play in promoting public awareness and understanding of tax practice, administration, laws, and policies.
The Chartered Institute of Taxation of Nigeria was established on February 4, 1982, as the Association of Tax Administrators and Practitioners. It later evolved into the Nigeria Institute of Taxation, which was officially launched on February 21, 1982, and registered as a company limited by guarantee on May
6, 1987.
The Institute was chartered by the Federal Government of Nigeria through the enabling Act No. 76 of 1992 (now CITN Act, Cap. C10, Vol. 2, Laws of the Federation of Nigeria, 2004). It is tasked with determining the standards of knowledge and skills required of individuals aspiring to become professional tax practitioners or administrators.
FICAN, an affiliate of the Nigeria Union of Journalists (NUJ), was established on January 26,1990 to provide a platform for training and re-training finance journalists on informed reporting of the financial sector and the economy. Its interests extend to fostering interaction among finance reporters, correspondents, and editors across electronic, print, and online media nationwide.
This collaborative effort between CITN and FICAN highlights the shared goal of empowering journalists with the knowledge to enhance financial reporting in Nigeria.
OIL AND GAS
The Symbolism and Significance of Port Harcourt Refinery Relaunch
About two decades after the Port Harcourt Refining Company (PHRC) went moribund, and billions of dollars sunk into its repairs, the company got re-started by the Federal Government last week. In a statement issued by the Nigeria National Petroleum Company Limited (NNPCL) on Tuesday, November 26, 2024, the Federal Government made the restart of the company public, assuring that the refinery has commenced at 70 per cent of installed capacity.
This development (hopefully) puts an end to a seemingly endless prevarication, doublespeak and failed promises by officials of the Federal Government as to the restart or relaunch timeline of the refinery. For countless times the CEO of the NNPCL, Mr. Mele Kyari and/or Minister of State, Petroleum Resources (Oil), Mr. Heineken Lokpobiri, had made pronouncements as to the date that the refinery would recommence production. All turned empty!
The Government’s latest statement says: “Today marks a monumental achievement for Nigeria as the Port Harcourt Refinery officially commences crude oil processing. This groundbreaking milestone signifies a new era of energy independence and economic growth for our nation.”
Truly, it takes a high pitch of patriotism to accept that the series of failed deadlines for the commencement of production at the refinery has come to an end. Indeed, if anything had weakened public trust and confidence in the Bola Ahmed Tinubu-led administration, it has been the failed promises of officials of the Government regarding the relaunch of the moribund public-owned refineries in the country.
The collapse of the Governmentowned refineries (PHRC, Warri Refinery and Kaduna Refinery) remains one of the root causes of the economic challenges besetting the country. Although it seems unbelievable, the country has for over a decade wholly depended on the importation of refined petroleum products because of its moribund refineries.
Not even one of the four giant refineries remained functional.
The ‘death’ of these refineries and the total dependence on imported fuel (especially, Premium Motor Spirit, PMS) has caused a drain on the foreign exchange (FX) resources of the country. Coupled with the opaque fuel subsidy regime (up until May 29, 2023) and lingering FX challenge, PMS importation has kept plunging the Nigerian economy into the abyss. Some cabal have continued to fritter away a huge chunk of the nation’s scarce FX.
a turning point in Nigeria’s ‘journey to nowhere’—in the quest for a meaningful economic turnaround. Incidentally, the Federal Government has reaffirmed its commitment to resuscitating its other refineries in Kaduna and Warri in no time.
With this projection, coupled with the Dangote Refinery that has since earlier this year been in operation, the journey to tackling Nigerians’ economic hardship would have commenced. This is because the key triggers of the prostate state of the Nigerian economy today were the sudden removal of fuel subsidy and its kindred policies. The pronouncement of this singular policy on May 29, 2023 by President Bola Ahmed Tinubu pushed PMS pump prices to unprecedented heights: from below N200/liter to N700/liter. And as the fuel importation spree continued, gulping so much FX, the pump price of the commodity has kept rising. Today, it is clearly over N1,000/litre practically everywhere around the country. The commencement of PMS production and supply by the Dangote Refinery a few months ago, and the controversies it generated injected more uncertainty into the fuel market. An assortment of vested interests represented by PMS importers and distributors as well as NNPCL came up with all manner of arcane or bizarre propositions. So much brouhaha; so much noise!
Interests against Dangote Refinery threw the confusion that the refinery (Dangote) was pushing to become a monopoly in the PMS business into the public space. This propaganda in no small measure, further fouled public sentiment. This was even as the NNPCL named itself as the sole off-taker of Dangote PMS for the local market.
The commencement of PMS production and supply by the Dangote Refinery a few months ago, and the controversies it generated injected more uncertainty into the fuel market
Unfortunately, part of the Federal Government’s fuel subsidy removal policy on May 29, 2023 was the licensing of more PMS importers, rather than expedited local refining strategy. And thus, the more these importers appropriated more FX to import, the more the pressure on the Naira in the Forex market; the more the depreciation of the local currency.
So, the eventual relaunch of the PHRC properly signals
However, now that the NNPCL will be reactivating the Government-owned refineries (starting with the PHRC) to join in the production and supply of PMS to the local market, the ‘ghost’ of any monopoly would be laid to rest. It signals the full liberalisation of the downstream segment of Nigeria’s oil sector has commenced.
This development will demand for NNPCL’s relinquishing of ownership and running of the PHRC and others. As of today, the NNPCL is yet to fully wear the toga of a privatized business. It still functions as a regulator on one hand, and an operator on the other. NNPCL’s activities are proof of the “Government having no business in business.”
Now it is most auspicious to pull through the aborted full privatisation of the government-owned refineries. This calls for the expeditious turnaround maintenance (TAM) of the Port Harcourt, Warri and Kaduna refineries. It also requires the demonstration of political will to do just the needful to jumpstart Nigeria’s economy and put it on the path to sustainable recovery
and growth.
Full liberalisation of the downstream oil sector will entail the removal of government controls, allowing market forces to dictate prices and supply of the commodity. This would encourage the entry of more private companies into the sector; thus, increasing efficiency and competition.
Today, although there are about 10 refineries (nominally) in the country, most of them are being stifled by the role of the Federal Government and its agencies in the sector.
Truth is that apart from Dangote Refinery, there are others, including: Edo Refinery and Petrochemical Company, Duport Midstream, Walter Smith Refinery, OPAC Refinery (Delta State), Niger Delta Petroleum Refinery (Aradel).
These, plus the four government-owned refineries (PHRC—Old & New, Kaduna and Warri) should be primed and given the enabling environment to thrive.
The Dangote Refinery (by a pyrrhic victory) has proven that as of today, the PMS business is infested with sharks, and only behemoths like it (Dangote) can weather the man-made storms in the oil business terrain. The industry is dominated by cabal and buccaneers.
Now that the Federal Government has commenced the journey to ‘freeing’ the PMS market by the relaunch of the PHRC, the commitment should be sustained to attain a ‘free market’ reign. The persisting economic hardship in the land can be hugely alleviated through meaningful decline in the prices of PMS and other products. The Federal Government must prove wrong the doubting public that the restarting of the PHRC is not a fluke nor a mere gambit.
It is a significant milestone that the PHRC is re-streamed after many years of lying moribund, but it is more important to prove that the step is a harbinger to a fully liberalized PMS market. Government must wean itself off every vested interest (overt or covert) in the fuel business. Its regulatory roles are already clearly spelt out in the relevant books. It is time to ‘let Nigerians breath’!
•Okeke is a practising Economist, Business Strategist, Sustainability expert and ex-Chief Economist of Zenith Bank Plc
BY MARCEL OKEKE
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4X4 N160, 000
4X3 N95, 000
4X2 N65, 000
3X3 N60, 000
3X2 N50, 000
2X2 N30, 000
2X1 N15, 000 1X1 N7, 000
BIODUN SHOBANJO CLOCKS 80
One of the veterans of Nigeria’s Marketing communications industry, Dr Biodun Shobanjo is 80 years-old. To celebrate the legend who gave many their head start in the marketing communications industry, many activities have been lined up in celebration of his landmark age. The epoch-making celebrations began late last month with Brand Communicator, Nigeria’s most consistent brand and marketing communications magazine opening the floodgates with an event held at the Alliance Francaise in Ikoyi, Lagos. The event, themed ‘Tech Driven Marketing Communications: Bridging Minds and
Continues on page 20
BRIGHT
LAUNCHES
ENTERTAINMENT &SOCIETY WEEKLY
EDITOR
Ivory Ukonu
Bright Echefu, the controversial businessman who sold TSTV with enticing offers to Nigerians using former Minister of Information, Alhaji Lai Mohammed, has abandoned the project and latched on to another project, this time, with the help of the Governor of Plateau State, Caleb Muftwang. Echefu’s latest project, a pay TV called LUFT TV, is what has now taken the place of TSTV which took off on shaky grounds.
Echefu launched Telecom Satellite Television Limited, TSTV in 2017. At the time it was launched, it was touted to be the first and only fully indigenous pay TV operator in the country. The launch was accompanied with enticing offers that raised the hopes of many Nigerians who desperately needed a break from DSTV and GoTV. TSTV, among other things, promised to offer pay-per-
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My Life Has Been About Fashion - Denola Grey
Denola Grey is many things rolled into one. He is a model, fashion influencer, fashion consultant, television show host, image consultant, a fashion and lifestyle content creator in the digital space, just to mention a few. In 2017, he expanded his resume when he added acting. One can’t deny that he is a force to reckon with in the fashion and rapidly growing influencing industry. He speaks with IVORY UKONU about his rise to the spotlight and other issues. Excerpts:
You are a popular fashion influencer and model. Your social media pages are like fashion catalogues for men. What would you say inspires what you wear?
What I wear is all about how I want to feel most times. If I am having a bad day, I put together an outfit that will make me feel confident. Fashion, sometimes for me, is wanting to feel a certain way and putting pieces together that would help me feel the way I want to feel. Other times, I get my inspiration from movies and music videos. It’s all about how I feel.
Would you say your love for fashion and being an influencer was a kicker to becoming a model for big fashion brands?
Yes. My success story is enormous. It has taken me to many places. I have worked for Tokyo James in Milan and I was also the Face of Fenty Beauty United Kingdom and Ireland last year. That is Rihanna’s beauty brand. My face was plastered everywhere in the United Kingdom and Ireland last year. It was really nice. My life has been about fashion and acting. I am a television presenter, too. I believe the work I have done in these areas has worked hand-in hand to push me to this limelight.
How did you become an actor?
I started with TV first as a presenter. I hosted about 200 episodes of EL Now for EbonyLife and then, I auditioned for my first role in a television drama series, ‘Castle and Castle’ in 2017. I have done two seasons of Castle and Castle and four movies after that, all of which are on NETFLIX. I even wrote style tips for men with BellaNaija and subsequently recorded style tips on camera for segments on EbonyLife.
masculinity and what men should do. I think that is very unfair because they are putting a lot of people in one box. It is the same thing with women. Two sides of the same coin. Fashion is about free expression. You are not hurting anybody. Wear pink or any other colour you like. Nobody has a monopoly on any colour. I got a lot of backlash because of my fashion choices, but a few people ended up wearing them a few months later. So, they are welcome.
You are very influential with designer brands. Are you planning to have your own fashion brand some day?
Your fans have the impression that you are a quiet and laidback person. Was it hard getting into character, shooting your way through in ‘Black Book’ or blowing hot in ‘Castle and Castle?’
I was fortunate to work with veteran actors like Richard Mofe Damijo, Dakore Egbuson, etc. I learnt a lot from them on set. I also learnt to trust my instincts as well. I put myself in the mind of the character that I am playing, like how the person is supposed to react. I drew some inspiration from people that I have met in real life.
Actors often say that some characters they play stay with them even after the cameras are off. Did you experience this?
The comments I got from people after some of the movies are that the characters I played reminded them of me in real life. But I said, ‘no way, I am not a serial killer please!’ The character that affected the way I speak for a while after we left the set was ‘The Black Book’. I was meant to be menacing in the movie and I was expected to change the way I speak. I had to make my voice lower and I spoke slowly as well. I spoke like that for up to a month before it faded out.
How did your love for fashion begin?
It all started when I was very young. I was always particular about what I wanted to wear. My mother loves fashion, but she is not a peacock fashion person. She likes nice things, but she does not go overboard. It’s not like I grew up in a super fashionable family. I am more like the most fashion forward person in the entire family. I love the glamour of fashion. I love how people look so powerful, opulent and luxurious in their ensemble. I wanted that for myself. It kind of informed the way I dress.
There was a time people believed that men could wear bold colours like pink or purple, but you were one of the few fashion influencers that took the bold step to start wearing them. Were you not afraid of side talks when you decided to try them out?
The thing is that in Nigeria, there are a lots of stringent views on
I am the kind of person that never says never. As of now, there is no plan to do so. I am most likely going to do something in the beauty space, like fragrances because I really love perfumes. Maybe, that first before clothing. I have done some capsule collections with the fashion brand, Orange Culture brand in 2020, which sold out. It will be really interesting to do that again, which is to collaborate with a brand that I like. Who knows, I might wake up one day and say, ‘I have done all I want to do, I have won all my awards, I think it’s time to have my own fashion brand’ and see how it goes.
Is fashion styling one of the things you do? Yes. I styled my entire family for my brother’s wedding. I also styled the groomsmen. I style very private clients that don’t like their names mentioned. We are very discreet. I once styled Adekunle Gold for London Fashion Week in 2022. That is what I do at Denola Grey Consulting. I get to nudge my clients out of their shell. I make sure that even the look on your face is elevated. I love when my clients have the look of the most elevated versions of themselves. I have met people that say they are not so fashionable; that they just like T-shirts and jeans. I tell them that just because they like T-shirts and jeans doesn’t mean they are casual. It simply means that they like comfort and something that is a bit understated. You can still wear really nice clothes with that aesthetic. Find those things that can just make you stand out.
When you dress up, do you think of drawing attention to yourself?
Believe it or not, I am actually a naturally shy person, but because of the work I do, I have tricked myself into being a bit more extroverted. Whenever I am walking the streets of Lagos or London, I don’t look at
anybody. I just look past and walk straight. I never know when people are staring at me. I am only interested in getting from point A to point B.
What is your take on the Nigerian fashion industry?
I think Nigerians are some of the most fashionable people in the world. But I am also very biased. We, Nigerians, just have a special something that nobody else has. We have this natural swag and elegance, but then, so do the Congolese and the Indians. It’s about confidence and it is also about being a peacock in the right way. We all have that energy, that confidence that shows in our fashion and you cannot take that away from us. You will know a Nigerian before they open their mouth to speak.
What did you study in school?
I wanted to study law, but I changed my mind and went for Media Business with a focus on writing for the media market and electronic broadcasting. The fashion thing just happened and it opened the doors to my full media career. Fashion got me in the room and then things like TV hosting and presenting kept me there. Hopefully, it continues to grow.
STORIES BY IVORY UKONU
ENTERTAINMENT &SOCIETY WEEKLY
Kiki Osinbajo Unveils New Fashion Line
Three years after she launched her skin care line, Konyin, former Vice President Yemi Osinbajo’s daughter, Kiki has opened a new fashion line called Ciar. This new addition is happening about four years after she launched her fashion and beauty house, Glam’d Africa Beauty House, a onestop venue for all things beauty related, clothing, accessories, skincare, hair products, makeup and a nail salon in Abuja. The latest addition is located in Abuja under the Glam’d Africa Beauty brand with a branch in the Lekki area of Lagos. The Lagos state of the art fashion show room was conceptualised,
designed and executed by Uloma Rochas, the first daughter of Rochas Okorocha, the immediate past governor of Imo State. Not many are aware that Uloma who owns Imo based radio station, The Reach FM 104.9 has a passion for interior designing. She brings to life some of her creative designs via her outfit, Walshblanc, a construction, interior design and space creation company.
Kiki, a 2016 graduate of Business Management from Aston University with her determination to execute her vision, has proven that she would go a long way in her chosen venture.
Oba Gbadebo Adedotun Confers
Chieftaincy Titles on Yemi Lawal and Wife
Otunba Yemi Saheed Lawal and his wife, Chief Mrs. Ayotunde Lawal have been conferred with the chieftaincy titles of Abese and Erelu Abese of Egbaland. The honor was conferred on the duo by His Royal Majesty, Oba Adedotun Gbadebo, CFR, the paramount ruler of Egbaland. The traditional ruler revealed that the well-deserved title, steeped in history and significance, was once held by the late Chief Ernest Shonekan, a statesman
and former Head of Nigeria’s Interim Government. He described Otunba Lawal as a shining example of excellence and an unparalleled role model. Congratulations have not stopped pouring in for the Lawals who see his conferment as a fitting recognition of his outstanding contributions to the society and his enduring legacy of selfless service.
Charis Onabowale Passes Away at 76
CVIEN TETSOLA EFFECTS NAME CHANGE
Vien Tetsola who was fondly referred to as the millennium queen as she got crowned Miss Nigeria in the year 2000 at the turn of the millennium has effected a name change. Back in the day, besides the fact that she was in a well-publicized relationship with music super star, Innocent Idibia, more popularly known as 2Baba, Vien was also, alleged to be in a romantic relationship with clergyman, Chris Okotie of Household of God Church. She soon dropped out of the scene leaving many to wonder what had become of her. She eventually surfaced a few years ago after undergoing some spiritual transformation. Today she runs Holy City Empire of GOD Beulah Land Ministry where she is the head of government of the ministry, something like a General Overseer. She has also changed her name and now prefers to be called Israel Shepherd Joshua. Vien was compelled to give her life and entire being to Jesus Christ following a vow she made to God. In her exact words, she vowed saying, ‘‘LORD, if You will make me Miss Nigeria I will serve You. With the crown I will serve You, with my life I will worship You.’’ This vow was made to GOD in the year 1999 prior to the Daily Times Miss Nigeria Beauty Contest for the Millennium. So after over 20 years of being weaned of the Lord, Vien honoured her vow in a life transforming journey, shedding her beauty queen cloak and adorning the Royal Priest cloak.
Timi Alaibe Hosts Lavish Wedding Party for Son
A beacon of professional success, humanitarian service, Lawal’s accomplishments resonate beyond borders. His legacy is one of dedication to his craft and an unwavering commitment to philanthropy, touching countless lives with his generosity and compassion. Lawal who is also the Osi Bobagunwa of EgbaLand is a staunch promoter of sports and through his selfless service, is committed to boosting grassroots sports development by nurturing young talents. His company, Seagle Property Development Company, sponsors the annual Chief Olusegun Obasanjo National Squash Championship. This he has done for the past six years. He believes in the mantra, to catch the young ones and nurture them in squash games ahead 2028 next Olympics. The Lawals
haris Grace Onabowale, the founder of popular Lagos eatery, Mama Cass, is dead. She died late last month at the age of 76. Her death sent shock waves across the hospitality industry in Nigeria, as well as among her friends and close family members who witnessed how vibrant she was during her 75th birthday celebration in 2023. Her burial arrangements began on Wednesday November 27th with a service of songs. She will be committed to mother earth this weekend. She left behind four children. Half British, Charis was married to a Nigerian medical practitioner, the late Tunde Onabowale. During her lifetime, she was a very private person. Not even her success made her step out of the borderline. Those who shared a close relationship with her attest to her humility and entrepreneurial spirit, which has rubbed off positively on her children. Charis opened the first Mama Cass Restaurant at Allen Avenue, Ikeja, Lagos in November 1983. The first outlet carried for the first time the brand “Mama Cass Cafeteria”. Mama Cass Restaurants later became a chain of about 14 quick service restaurants in Lagos and expanded its service locations to other parts of the country, including Ogun, Edo, the Federal Capital Territory and also in the United Kingdom.
This past weekend, former managing director of Niger Delta Development Commission (NDDC) and a four-time gubernatorial aspirant in Bayelsa State, hosted the cream of Lagos society to the wedding ceremony of his second son, Ebitari. He got married to his lover, Anne Burton, a charming beauty with Ghanaian roots. The lavish ceremony took place at The Monarch Event Centre, Lekki, Lagos. Steering proceedings at the wedding was master of ceremony, Ik Osakioduwa while Lavie Live Band were on hand to serenade the guests
some of whom included former President Olusegun Obasanjo; Governor Douye Diri of Bayelsa State; Tony Elumelu, Allen Onyema, AbdulRahman AbdulRazaq, Daisy Danjuma, Austyn Ogannah, Tony Attah, James Ibori, Peterside Atedo, Sam Ogbuku, Daisy Danjuma, etc. A banker turned developer, Ebitari currently runs his own web development company in the United Kingdom where he is based. He is also a lecturer and a teaching assistant at Le Wagon, a bootcamp that offers immersive courses in web development, data science and AI, data engineering, data
Onabowale
Osinbajo
Joshua
Ebitari and Anne Alaibe
ENTERTAINMENT &SOCIETY WEEKLY
STORIES BY IVORY UKONU
Ayo and Mabel Makun in Custody Battle Over Second Child
Comedian, actor and movie producer, Ayodeji Makun, aka AY and his estranged wife, Mabel are alleged to be engaged in a custody battle over their second daughter who is a little over two yearsold. Sources close to THEWILL reveal that Mabel has refused to let AY have any contact with their second child. Since Mabel moved out of their home after she decided that she was done with the marriage, she allegedly became unreachable each time AY wanted to speak with their young daughter on the phone or to spend quality time with her. So he devised a means through which he could speak with her and that was allegedly through the child’s nanny. AY allegedly resorted to always calling the nanny whenever he wanted to speak with the toddler, especially when Mabel isn’t at home. Unfortunately, Mabel found out about this arrangement, felt betrayed and allegedly sacked the nanny. AY is currently at a loss as to what to do to have access to his daughter since Mabel would have nothing to do with him. Since their marriage broke down irretrievably, Mabel has distanced herself from their mutual friends who would have spoken with her on the matter or her in-laws. She no longer speaks with her brothers-in-law, their wives or her sisters-in-law who are older than her. She no longer celebrates them on their birthdays on her social media page, something that used to be the norm. A cursory look at her social media page shows that she has pulled down pictures of her husband and that of her in-laws which she splashed generously
Akin Akingbesote Floats Private University
Biodun Shobanjo Clocks 80
on her social media handle. All that is left on it are pictures of herself, her children and her work as an interior designer. The couple seem to have moved on with their individual lives after 20 years of friendship and marriage. They are allegedly basking in the glow of their respective new relationships.
Kiki Osinbajo unveils new fashion line
Three years after she launched her skin care line, Konyin, former Vice President Yemi Osinbajo’s daughter, Kiki has opened a new fashion line called Ciar. This new addition is happening about four years after she launched her fashion and beauty house, Glam’d Africa Beauty House, a one-stop venue for all things beauty related, clothing, accessories, skincare, hair products, makeup and a nail salon in Abuja. The latest addition is located in Abuja under the Glam’d Africa Beauty brand with a branch in the Lekki area of Lagos. The Lagos state of the art fashion show room was conceptualised, designed and executed by Uloma Rochas, the first daughter of Rochas Okorocha, the immediate past governor of Imo State. Not many are aware that Uloma who owns Imo based radio station, The Reach FM 104.9 has a passion for interior designing. She brings to life some of her creative designs via her outfit, Walshblanc, a construction, interior design and space creation company. Kiki, a 2016 graduate of Business Management from Aston University with her determination to execute her vision, has proven that she would go a long way in her chosen venture.
Bright Echefu Launches New pay TV Amidst Fraud Allegations
view, affordable subscription rates with daily subscription available as well as a 20 gigabyte free data all for a N5,000 decoder and maximum monthly subscription of N3,000. And so, his decision to launch it on October 1, 2017, without mincing words, was supposed to be symbolic of a declaration of ‘freedom’ for fans of pay TV. In fact, on the day of the launch, Alhaji Mohammed said that TSTV would be tax free for the next three years as a way of encouraging the company.
But it turned out to be a farce as all the mouthwatering promises faded soon after the launch with subscribers experiencing epileptic services and at some point, the company stopped transmitting all together. Echefu staged another comeback three years later with the promise to offer Nigerians the best Pay-TV experience. However, it was yet another failed promise, as its service remained intermittent, leaving subscribers who had invested in the company’s decoders with constant complaints. TSTV completely went off the radar again in March 2023 and it has remained absent till date with no particular explanation to subscribers beyond intermittent apologies for ‘technical glitches’ during its active days. Now
he has launched LUFT TV with the same promises he made when he launched TSTV. He claims that TSTV isn’t dead as widely speculated and that subscribers who never enjoyed the perks of TSTV since its launch, would be moved to the LUFT TV platform. The launch, ironically, is coinciding with a fraud case he is embroiled in. Earlier in the week, a Magistrate Court sitting in Bwari Area Council of the Federal Capital Territory ordered his arrest over allegations bordering on $651,280 fraud. Echefu who is also the Chief Executive of a security company, Briech Intelligence Fusion Limited, was said to have defrauded BCG NEEDS Company of the said amount under the pretence of supplying drones and accessories. Irked that he was not in court to stand trial for the fraud charges against him, the court ordered the FCT Commissioner of Police to arrest him and his accomplices and bring them before the court on or before the next adjourned date to enable them to stand trial. He had earlier been arraigned before the Federal High Court in Abuja by the Economic and Financial Crimes Commission, EFCC over allegations of tax evasion, money laundering and advanced fee fraud. How he hopes to redeem his image and fulfill all of the incredible promises he made to TSTV subscribers remains a mystery, but THEWILL is clos ely watching.
Akin Akingbesote, a former commissioner of commerce in Ondo State has joined the growing league of private university owners with the launch of New City University in Aiyetoro, Ogun State. The university which is 80 per cent ready for take-off is expected to deliver quality education and conduct research to address societal needs. Akingbesote also claims that the university is poised to deliver world-class education that will empower its students to become leaders and change makers in their chosen fields of endeavour. He noted that the institution is founded on the principles of integrity, inclusivity, and social responsibility and the belief in the power of education to transform lives and build a better future for all, adding that he didn’t venture into the educational sector for pecuniary gains rather his motivation stems from the love of his parents for education despite their humble background as farmers, hunters and traders, who believed that education as a weapon of liberation from poverty, diseases and ignorance. Adegbesote who is the managing director of First Prime Agency Nigeria Limited, hinted that at take-off, his university will have a Mass Communication and Law department among other major departments.
Machines,’ had a fireside chat with Shobanjo who shared his wealth of experience with participants, while also fielding questions. Every industry player made it a point of duty to attend as it was an eye-opening session with the guru. Other smaller events have been held as a prelude to the grand finale in the coming week. In a career that spans over 50 years, Shobanjo has managed with top-notch creativity, his organization, Troyka Holdings, seen by most as the largest and most innovative integrated marketing communications group in sub-Saharan Africa with subsidiaries in creative advertising, public relations, experiential marketing, outdoor advertising, security among others. In 2015, Shobanjo’s ultimate dream of turning Troyka into a global player was fulfilled, when he went into an equity partnership with Publicis Groupe, the world’s 3rd largest marketing communications group, to scale up Insight Redefini, the communications arm of
Troyka Holdings, that has two advertising agencies – Insight Publicis and Leo Burnett; two media buying companies – All Seasons Zenith and Starcom Media Perspectives; and Quadrant MSL, a reputation management outfit. That Shobanjo has contributed remarkably to human capacity development, is seen as a mentor to many successful marketing communications practitioners and business owners in the country and beyond would be simply stating the obvious. He started his career as a Studio Manager in the then Nigerian Broadcasting Corporation (NBC) now Radio Nigeria before transiting to Grant Advertising Ltd, an American Nigerian agency. His foray into entrepreneurship began when he co-founded Insight Communications in 1980 with staff members and only one client. Armed with tenacity and the quest for excellence, Biodun proved himself a daring creative innovator in the marketing communications industry.
Aisha Achimugu Celebrates Mum at 75
Penultimate week, businesswoman,
Aisha Achimugu feted Abuja elites to the 75th birthday celebrations cum thanksgiving of her mother, Mrs Felicia Adole. The party which took place in Abuja had the immediate past first vice president of the Living Faith Church aka Winners Chapel, Bishop David Abioye and his wife, Pastor Mrs Mary Abioye in attendance. Bishop Abioye gave a word of exhortation at the thanksgiving celebration and later prayed for the celebrant
who was overly excited to have the clergyman, and his wife honoured her with their presence. Thereafter, gospel singer Mercy Chinwo serenaded the celebrant and her guests with songs from her repertoire. Some of those who took time to honour Aisha and her mum were Akunna Nwala, businessman, Stanley Uzochukwu; Julius Rone and wife, Utibe; Minister of State for Labour and Productivity, Nkeiruka Onyejeocha and several others.
Akingbesote
The Makuns
Adole
SHOTS OF THE WEEK
Photo Editor: Peace Udugba [08033050729]
L-R:Director, HR, IHS Towers, Ejemen Okojie; Founder and Executive Vice Chairman, boys to MEN Foundation, Ifeoma Idigbe and Managing Director, Remita Payment Services Limited, Deremi Atanda, at the boys to MEN Foundation’s International Men’s Day event, held in Lagos on November 23, 2024.
L-R: Chief Executive Officer, Janpur Group, Mr. Mohammed Shafiq ; Imo state Governor, Hope Uzodimma and the Deputy Governor of Imo State, Lady Chinyere Ekomaru, after the signing of Memorandum of Understanding for the revival of some moribund companies in Imo State at Government House Owerri on November 27, 2024.
L-R:Co-Convener, Amb. Chibuzor Okereke; Director-General, National Institute for Legislative and Democratic Studies (NILDS), Prof. Abubakar Sulaiman; Convener, Comrade Anderson Osiebe and others, during the National Legislative Conference 2024 at the NILDS Auditorium in Abuja on November 27, 2024.
L-R:Country Director, British Council South Africa, George Berett; TVET/FE sector student representative, Nkangala FET College, South Africa, Ms Kgothatso Masetla; Maker, Launchpad Allan and Gill Gray Philanthropies, South Africa, Ms Linda Lindani; Policy Advisor, Education Policy and Advocacy, (AASU), Ghana, Mr Divine Edem Kwadzodeh; Education for Sustainable Development Specialist/ Chairman of Council of Earth Charter International, Nigeria, Dr Akpezi Ogbuigwe and Secretary General /CEO, The Association of Commonwealth Universities, UK, Professor Colin Riordan CBE, at the British Council Going Global Africa 2024 in Abuja on Wednesday 27th of November, 2024.
L-R:Co-Convener, Amb. Chibuzor Okereke; Director-General, National Institute for Legislative and Democratic Studies (NILDS), Prof. Abubakar Sulaiman; Convener, Comrade Anderson Osiebe and others, during the National Legislative Conference 2024 at the NILDS Auditorium in Abuja on November 27, 2024.
L-R:Legal Adviser, Jands Travels Business School (JTBS), Mr Okechukwu Olive; President SLANG Global, Prof. Uchenna Vasser; President National Association of Nigeria Travel Agencies, Mr Olayinka Folami; Zonal Director Nigeria Tourism Development Agency, South-East, Mr Ebiloma Shaibu; Enugu State Commissioner for Culture and Tourism, Dame Ugochi Madueke; Director JTBS, Mrs Chioma Obi; Regional Coordinator Southeast Nigerian Export Promotion Council, Mr MacPherson Fred-Ileogben and Deputy Director NTDA, Mr. Patrick Okochi, during JTBS Domestic Tourism in Nigeria Conference in Enugu on November 28, 2024.
African Military Games 2024: Unity Through Sport in Abuja
BY JUDE OBAFEMI
The second edition of the African Military Games took place in Abuja, Nigeria, from November 18 to November 30. This significant event brought together over 500 athletes from across the continent, marking a notable milestone in African military sports history. Following a 22-year break since the inaugural games in Nairobi, Kenya, in 2002, the return of this competition reflects Nigeria’s leadership role in fostering military collaboration and unity in Africa.
Nigeria hosted the games with the aim of promoting camaraderie, physical fitness and regional cooperation among participating nations. The event featured 19 different sports, including athletics, football, basketball and wrestling, taking place at the MKO Abiola International Stadium, which underwent extensive renovations to accommodate the games.
The opening ceremony on November 20 was a grand affair attended by high-ranking officials, including Vice President Kashim Shettima and Chief of Defence Staff, General Christopher Musa. The event featured military parades and cultural performances, showcasing the rich diversity of participating nations.
General Musa emphasised the importance of the games in strengthening relationships among African military forces and fostering regional cooperation.
Throughout the competition, Nigeria maintained a dominant position in the medal standings. By Friday, November 29, Nigerian athletes had amassed an impressive 87 gold, 47 silver, and 40 bronze medals, clearly leading the pack. Algeria followed with a distant 42 gold medals, while Kenya followed in third place with 15 gold medals.
The shooting events were particularly noteworthy, held at the Shittu Alao Barrack in Keffi. Sergeant Moses of the Nigerian Army excelled in the men’s 200m rifle-prone position, winning gold with a score of 217 points. He outperformed competitors from Tunisia and Algeria, a testament of Nigeria’s strength in shooting disciplines.
In wrestling, Nigeria displayed her competitive spirit with 11 gold, 12 silver, and 7 bronze medals. The taekwondo events also saw Nigerian athletes shine, with notable victories in various weight categories. Mohammed Yusuf triumphed in the men’s 54kg category, while female competitors, including Bisallah Rejoice and Anam Glory, also claimed gold in their respective divisions.
The volleyball tournament featured exciting matches, with Nigeria defeating Burkina Faso 3-0. SLT Seiyefa Dikiyai was awarded the Most Valuable Player for his outstanding performance. Other teams, such as Ghana and Algeria,
also achieved victories, further demonstrating the competitive nature of the games.
A notable achievement of this edition was the participation of Mali, Burkina Faso, and Niger, countries that had previously withdrawn from the Economic Community of West African States (ECOWAS). Their involvement signalled a commitment to collaboration and sports diplomacy, demonstrating the potential of the games to bridge divides and promote unity among African nations.
The event attracted substantial participation, with Ghana leading with 267 athletes, followed by Algeria with 160, Kenya with 60, and Tunisia with 48. Overall, 40 countries were represented, exceeding initial expectations and highlighting the enthusiasm surrounding the competition.
Beyond the athletic contests, the games provided a platform for cultural exchange and military cooperation. The significant investment in facilities and the organisation of the event underscored Nigeria’s commitment to fostering international sports diplomacy.
The games served multiple purposes: they encouraged friendly competition while creating opportunities for sharing best practices among African armed forces. The athletics programme included sprints, middle- and long-distance races, and field events. Traditional powerhouses like Ethiopia and Kenya excelled in distance running, while Nigerian and Moroccan athletes made strong showings in field events. These competitions not only highlighted athletic talent but also fostered a spirit of friendly rivalry and collaboration among nations.
across the continent. The spirit of competition remained strong throughout, with athletes setting new records and achieving personal bests in various disciplines.
Throughout the competition, Nigeria maintained a dominant position in the medal standings
Economic benefits for Nigeria were evident during the games, with increased tourism and local business activity reported around the competition venues. The event drew international attention, demonstrating Nigeria’s ability to host large-scale events and promoting a positive image of the country.
The closing ceremony, scheduled for November 30, will mark the conclusion of an event that has brought together military personnel from across Africa, promoting unity through sport while strengthening continental military relationships. The success of the games indicates potential for future collaborations among African nations, especially in addressing common security challenges.
The medal standings near the conclusion of the games revealed that several nations, including Senegal, Mali, and Burkina Faso, had not yet won gold. This points to the competitive nature of the games and areas for development in sports
The impact of the African Military Games is likely to extend beyond the realm of sports. The event has the potential to influence military cooperation, cultural understanding, and diplomatic relations among participating nations. By bringing together military personnel from diverse backgrounds, the games fostered camaraderie and mutual respect, reinforcing the idea that collaboration is essential for addressing shared challenges.
Looking ahead, the legacy of the games is expected to contribute to a more united and engaged Africa. The successful organisation of such a large-scale event positions Nigeria well for hosting future international competitions. The games served as a reminder that strength lies in partnership, and through sports diplomacy, African nations can work together to build a safer and more integrated future.
The return of the African Military Games has allowed not only the celebration of athletic excellence but also promoted regional stability and cooperation. The event highlighted the importance of unity among African nations, demonstrating that through sports, barriers can be broken and friendships can be forged. The games will leave a lasting impact while reinforcing Nigeria’s role as a leader in fostering military collaboration and solidarity across the continent.
Nigeria’s Wrestling Team
Nigeria’s Volleyball Team
Opening Ceremony
ogannah@thewillnews.com
It is Now Time to Heal South-East and Make Nigeria Great Again
The recent arrest of Simon Ekpa, a pro-Biafra agitator based in Finland, presents a momentous opportunity for Nigeria to address long-standing grievances and foster genuine reconciliation, particularly in the South-East.
The arrest is not simply a law enforcement victory, but a call to reflect on Nigeria’s fractured unity, its historical wounds and the need for tangible solutions that can bridge divides.
The South-East geopolitical zone has endured decades of systemic neglect, marginalisation and underinvestment. Despite being home to some of the country’s most industrious and enterprising people, the region remains beset by stark economic disparities and political exclusion.
This marginalisation, particularly felt by the Igbo people, is rooted in the deep scars left by the Nigerian Civil War (1967-1970). The aftermath of the war was intended to bring healing, but in reality, it has perpetuated a sense of injustice and exclusion, with many Igbos feeling they are still being punished.
For decades, the South-East has lacked the necessary infrastructure to unlock its potential. While the Igbo people are recognised for their entrepreneurial spirit, their region has continued to suffer from insufficient federal investment in critical infrastructure. A glaring example is the lack of seaports in states like Anambra and Abia, which has stifled economic activity. The absence of modern roads, industrial zones and efficient transportation systems has crippled the region’s ability to become a key economic hub. Meanwhile, other regions have benefitted from much larger federal investments, further compounding the sense of marginalisation felt in the SouthEast.
In politics, no person from the southeast has been elected President since the country’s return to civilian rule in 1999, even when the concept of power rotation amongst the three major ethnic groups (Igbo, Hausa/Fulani and Yoruba) is a popular concept amongst the elites. This remains a symbol of the broader exclusion of the region from national leadership. This exclusion not only fosters feelings of second-class citizenship but also creates a disconnection between the Southeast and the decisionmaking centres of power. The lack of political representation at the highest levels of government continues to exacerbate the sense of alienation in the region, with many feeling that their voices are ignored in national conversations.
At the heart of this marginalisation lies the unresolved trauma of the Biafra War. Despite the government’s declaration of “no victor, no vanquished” after the war, the post-war policies have only deepened the divisions. The region’s lack of infrastructural development, paired with the ongoing political exclusion, has bred frustration and disillusionment, leading to the rise of violent secessionists like Nnamdi Kanu and Simon Ekpa, who are both now under federal custody in Nigeria and Finland, respectively.
Kanu and Ekpa, key figures in the current pro-Biafra movement, Indigenous Peoples of Biafra, became notorious for using social
media to incite violence and disrupt economic activities across the Southeast. Ekpa’s Monday sit-at-home orders, which aimed to push for a sovereign Biafra, resulted in significant losses for the economy, with some estimates putting the cost at over ₦22 trillion. These actions paralysed entire communities, shutting down businesses, schools and
essential services, and creating an atmosphere of fear and uncertainty. Yet, Kanu and Ekpa are merely a symptom of a much larger issue. Their actions reflect the widespread dissatisfaction with the Nigerian state that extends far beyond the Southeast. Similar separatist movements have gained traction in other parts of the country, most notably in the Southwest, where Sunday Igboho’s push for an Oduduwa Republic mirrors the Igbo demand for self-determination. Both movements are driven by feelings of marginalisation and a desire for more significant control over their regions’ resources and governance.
However, the arrest of Ekpa should not be viewed merely as a law enforcement success, but as an opportunity for national introspection. The growing calls for secession and self-determination across Nigeria reflect a deeper dissatisfaction with the political system. These movements are not only about territorial independence but also a cry for justice, equity, and genuine inclusion in the country’s political and economic life.
To heal the wounds in the Southeast and, by extension, the entire country, it is essential to address the root causes of the discontent. In my opinion, a comprehensive approach is necessary—one that goes beyond simply silencing dissent or pursuing military action. Instead, Nigeria needs to implement substantial reforms that address the economic and political exclusion felt by marginalised regions. This means addressing the systemic inequalities that have perpetuated the Southeast’s economic stagnation and political sidelining.
One of the first steps in this process should be investing in the region’s infrastructure and creating one or two more states to bring the number of states in the area at par with the other regions.
The region has the lowest number of states (five), while others have six with the northwest enjoying seven states. In addition to these, political inclusion is equally important. The Nigerian government must ensure that all regions have a fair representation in national politics. Southeast leaders must be given the opportunity to ascend to key positions of power, including the presidency. The failure to do so only deepens the perception of exclusion and undermines efforts to build national unity. A visible commitment to equitable representation would help to rebuild trust and foster a sense of belonging among the Igbo and other marginalised ethnic groups.
Moreover, the Nigerian Government must engage in dialogue with leaders from the Southeast who have expressed a willingness to pursue peaceful resolutions. The release from detention of Nnamdi Kanu could serve as a symbolic gesture of goodwill as he has demonstrated a shift towards peaceful engagement. Dialoguing with leaders who are committed to non-violent methods of advocacy could open a path for addressing long-standing grievances and building a more inclusive political framework.
The government’s approach to resolving tensions must also recognise the importance of community and traditional leadership in fostering peace. Local leaders, religious figures, and civil society organisations have an essential role to play in facilitating dialogue and rebuilding trust. These leaders must take active roles in deescalating tensions and promoting peaceful coexistence, both within the Southeast and across Nigeria.
Equally important is the need for national solidarity. While the focus is on healing the Southeast, it is vital to recognise that other regions, such as the Niger Delta and the Middle Belt also have their own grievances that must be addressed. A comprehensive national framework is necessary to ensure that the voices of all marginalised groups are heard and respected. Unity in diversity is a core tenet of Nigeria’s founding ideals and a commitment to addressing regional grievances is essential to moving the country forward.
The healing of the South-East is not just a regional concern; it is a national imperative. By addressing the long-standing issues of marginalisation and fostering genuine dialogue, Nigeria can pave the way for a more inclusive and prosperous future. The time for healing is now, and the choices made today will determine the unity and stability of Nigeria for generations to come.
A comprehensive national framework is necessary to ensure that the voices of all marginalised groups are heard and respected. Unity in diversity is a core tenet of Nigeria’s founding ideals and a commitment to addressing regional grievances is essential to moving the country forward
