WEDNESDAY 19TH JANUARY 2022

Prices of Rice, Other Food Items to Crash Soon, Buhari Assures Rice importation from Thailand drops by 99.83% as Emefiele praises farmers for their doggedness despite challenges President hails CBN Governor, Fayemi, Bagudu, others’ contribution to agriculture PDP mocks FG, APC for unveiling ‘pyramids of lies’ Deji Elumoye, Chuks Okocha and James Emejo in Abuja President Muhammadu Buhari has assured Nigerians that prices

of food items, especially rice will soon come down.

The president, who gave the assurance yesterday, during the official unveiling of the Central

Bank of Nigeria (CBN)/Rice Farmers Association of Nigeria (RIFAN) Rice Paddy Pyramids in Abuja, urged Nigerians to exercise some patience, saying

the growing food production in the country, especially expansion in rice farming would eventually bring down prices of food, making it more affordable for all.

This was just as the Governor of the CBN, Mr. Godwin Emefiele, revealed that following the successes recorded in the implementation of the CBN-led Anchor Borrowers’

Programme (ABP), the country had been able to significantly reduce rice importation from Thailand by Continued on page 41

Lawan: National Assembly to Rework, Pass Electoral Bill Wednesday... Page 8 Wednesday 19 January, 2022 Vol 26. No 9780. Price: N250

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Feb. 26 APC Convention: All Eyes on These Men We should make it a policy convention, says Fayemi Adedayo Akinwale in Abuja After weeks of apprehension, accentuated by orchestrated uncertainties, the National Caretaker/ Extraordinary Convention Planning Committee (CECPC) of the All Progressives Congress (APC), yesterday, affirmed February 26 as the date for the party’s national convention, apparently, with the approval of President Muhammadu Buhari. Chairman of the caretaker committee and Governor of Yobe State, Mai Mala Buni, disclosed this in Abuja at the Progressive Women Conference, with the

Kashim Ibrahim-Imam

Tanko Al-Makura

Abdullahi Adamu

Senator George Akume

Continued on page 5

...Can APC Afford an Elective Convention?

Adedayo Akinwale in Abuja After a long season of indecision, perhaps, prompted by an attempt to see the direction of events before committing themselves, the Caretaker/Extraordinary Convention Planning Committee (CECPC) of the All Progressives Congress (APC) has finally agreed to hold the national convention of the party on Saturday, February 26.

Continued on page 5

THE RICE REVOLUTION...

L-R: Kebbi State Governor, Senator Abubakar Atiku Bagudu; Ekiti State Governor, Dr. Kayode Fayemi; President Muhammadu Buhari; Governor, Central Bank of Nigeria, Mr. Godwin Emefiele; President, Rice Farmers Association of Nigeria, Alhaji Aminu Goronyo and Ebonyi State Governor, Chief David Umahi, at the formal unveiling of Rice Pyramids in Abuja... yesterday

Presidency: Buhari Has Broken Jinx of Presidents Enriching Themselves, Cronies... Page 42

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WE'RE READY FOR THE CONVENTION...

President Muhammadu Buhari (left), welcoming the APC Caretaker Committee and Extraordinary Convention Chairman and Governor of Yobe State, Mai Mala Buni, to the State House, Abuja…yesterday

FEB. 26 APC CONVENTION: ALL EYES ON THESE MEN theme, "One Voice, Women Uniting for Progress."

Buni was, however, silent on the proposed venue of the convention.

Ostensibly excited by the news of the convention, Chairman of Nigerian Governors’ Forum (NGF), and governor of Ekiti State, Dr. Kayode Fayemi, said there was a need to make the party's convention a policy convention.

In another development, a group, the APC Rebirth Group, berated the party’s governors for, allegedly, forcing the directorgeneral of Progressive Governors’ Forum (PGF), Dr. Salihu Lukman, to resign. Chairman of the forum and governor of Kebbi State, Atiku Bagudu, and Buni had on November 22 last year announced February as potential time for the convention, after a meeting with Buhari.

However, soon after the announcement of February as the month for the convention, a former governor of Abia State and Senate’s Chief Whip, Senator Orji Uzor Kalu, in a letter dated December 13, 2021, urged the caretaker committee to consider postponing the national convention. Kalu suggested that the presidential primary and the convention of the party be conducted the same day.

But kicking against Kalu's suggestion, Lukman called on Buni and Secretary of the caretaker committee, Senator John Akpanudoedehe, to resign honourably if they failed to conclude preparations for the party's convention.

Lukman, in a letter dated January 5, 2022, titled, "APC National Convention: Urgent Matters for the Survival of APC," pointed out that leaders of the party must understand that its survival was at stake and any attempt to continue to contemplate postponement of the convention was unacceptable, as it meant gambling with the future of the party.

After immense pressure mounted on the caretaker committee by party’s stakeholders, the APC governors met again on Sunday in Abuja, where they assured their members that the convention of the party would hold in February. It was the second meeting in weeks over convention matters.

Interestingly, it emerged that the power play by the various interest groups and power blocs within the party later consumed Lukman, who resigned his position on Monday.

Many saw Lukman as the conscience of the party, but it turned out that he could no longer be tolerated by some of

the governors, who insisted that he must be shown the way out.

While a majority of the governors opposed the attempt to force Lukman’s resignation, a few insisted he must go, hence his eventual resignation.

Buni, while speaking at the conference, said women constituted a large proportion of Nigeria's population and, therefore, their role in nation building, political and socio-economic development of the country could not be over emphasised. He said the role played by women made the membership registration and revalidation exercise a huge success.

The chairman boasted, “APC parades over 41 million registered members, asserting its position as Africa's largest political party and, of course, Nigeria's leading political party.”

Buni added, "With this, we are confident of winning the 2023 general election with huge success. Let me assure that the party shall not forget this gesture by supporting women and youths for their political aspirations, and to realise their political dreams.

“We look forward to having more women contesting in the forthcoming National Convention of the party on February 26th, 2022, and the general elections. Now, as we approach the convention and moving closer to the next general election, I wish to remind you of your progressive role in supporting progressive minded leaders."

He also noted that politically, women had always played a key role in the country's electioneering process and administration, saying they remain the best and most reliable mobilisers of support for any political party and its candidates.

Reiterating that Nigeria proudly paraded a good number of women at the federal and state levels, as well as in political offices, who are serving excellently, Buni stressed that as the theme suggested, he was confident that the conference would unveil issues that would improve the fortunes of the ruling party and support the federal government in its commitment to improve the lives of Nigerians.

"It is in realisation of these great roles that the APC, as a matter of deliberate policy, always reserves some spaces to carry the women along at all levels," Buni stated.

On his part, Fayemi said, “We are going into our convention.

I would like to plead with the chairman that we should make this a policy convention. A policy convention, where we can specifi-

cally take one by one all those aspects of life that our people want to know what we have done in the last six years; what we are still going to do roughly in the next 17 months left to our government and how we will consolidate on that by ensuring that we elect another APC president in 2023.”

Fayemi said he was sure that Buni and members of the caretaker committee were interested in making the convention a policy convention and assured the people that the APC governors’ forum would be happy to work with the committee.

The PGF chairman stated, "We in the PGF will work with them in order to ensure that the convention that is coming in February is not just a convention to elect the officers of the party, but also a policy convention to examine where we are, where we have come from, and where we are headed."

He hoped that the conference would come up with a charter

of demands on issues germane to women before the convention.

Fayemi said, "I know that we have covered a lot of ground, but we still have a lot of ground. We have not done enough for our women, we can do a lot more than what we have done. One, in terms of representation of women in offices, but also in terms of service delivery to our women across the length and breadth of Nigeria.

“But we have the strength, we have the capacity, we have the commitment and we have the compassion to ensure that we deliver to our women."

Meanwhile, reacting to Lukman’s resignation, spokesperson of the APC Rebirth Group, Mr. Aliyu Audu, in a statement yesterday said there was nothing progressive about the action of the progressive governors.

The group stated, "Our disappointment is in the fact that a party that prides itself as a progressive party, more so governors elected

under its platform, would be so intolerant to opinions that are not in agreement with their desires.

“We are, however, not in the least surprised. When we started our campaign for the rebirth of the party as a way to address the obvious nosedive occasioned by the way past and current handlers were managing affairs, we were not only barred from using the party secretariat for any of our activities, members of the group were barred from entering the secretariat."

The group noted that while it hailed Lukman for his decision to tender his resignation, it was not unaware of the fact that APC governors at their meeting on Sunday orchestrated the resignation over his position on the state of APC and, particularly, his calls for the conduct of the national convention, which was long overdue.

It said Lukman shared a deep concern about the state of affairs of the party, just like APC

Rebirth, adding, “Not only has he courageously and consistently identified the problems, he has made far-reaching recommendations on how best to navigate the booby traps set before the party.”

But rather than heed his calls, the governors of the party, the group said, mounted pressure on him to throw in the towel. “It is illogical that the attempt to stifle freedom of expression is being promoted by elected executives in a democracy, more so in a party that is said to be progressive,” the APC Rebirth Group stated.

Having resigned his position, the group said Lukman was now at liberty, more than ever before, to continue his constructive engagement on behalf of millions of APC members, who counted on the bravery and fair-mindedness of people like him.

It also pointed out that the governors and leaders of APC had exposed their lack of principle as progressives and their inability to embrace opposing views.

state chapters of the party, no fewer than seven cases are pending before the Federal High Court challenging the legitimacy of the Buni-led committee or some of its decisions.

There were at least five cases in various courts challenging the eligibility of the party leadership.

And with about five weeks to the proposed convention, there are still about 10 members contesting the national chairmanship position.

They are Chairman, Board of Trustees, Tertiary Education Trust Fund (TETFUND), Kashim Ibrahim-Imam; former governor of Nasarawa State, Tanko AlMakura; another former governor of the state, Abdullahi Adamu; and incumbent governor of Benue State, George Akume.

Others include former governor of Zamfara State, Abdulaziz Yari; former governor of Bauchi State, Isa Yuguda; former governor of Borno State, Senator Ali Modu Sheriff; Mallam Saliu Mustapha; Senator Sani Musa; and Soni Monidafe.

Though North-central seems favoured to clinch the number one party position, there are no indications yet that the aspirants have agreed to have a consensus arrangement. All the aspirants appear ready to slug it out at the convention.

Investigation, however, reveals that Ibrahim-Imam, Al-Makura, Adamu, and Akume are most favoured by the leadership of

the party to emerge national chairman. The four are favoured by most of the governors.

Though, there have been calls for serving governors, who are members of the caretaker committee, including Niger State Governor Abubakar Sani Bello, Buni and Governor of Osun State Gboyega Oyetola, as well as some members of the National Assembly, to resign.

Those seeking the resignation base their argument on the officers’ re-election bids, to prevent a situation where they would be judges in their own case.

But yesterday’s meeting of the caretaker committee at the national headquarters of the party was inconclusive, and would be continued today.

The meeting yesterday deliberated on modalities, especially, the mode of the convention, whether it would be direct primary, delegate system, or consensus. The meeting also discussed the activities of the Adamu committee and the effect of the unresolved rancorous state congresses on the preparation for the convention.

But as is fast turning out, the fragile status of the ruling APC, especially, in the states, would make an elective convention for the party an acid test. Many believe it would be safer for the party to adopt a consensus arrangement in the forthcoming convention in order to present a united front at the 2023 elections.

CAN APC AFFORD AN ELECTIVE CONVENTION? The date was announced yesterday in Abuja by the chairman of the committee and Governor of Yobe State, Mai Mala Buni, at a Progressive Women Conference. But Buni maintained a curious silence on the venue.

The announcement came after months of foot-dragging by the caretaker committee, which many initially thought had resolved to serve out the tenure of the sacked Adams Oshiomhole-led National Working Committee (NWC).

Despite the announcement, which seemed to have excited key members of the party, the question now on the lips of many observers is whether the APC could afford to hold an elective convention, considering the multidimensional crises in most of the state chapters.

Perhaps, it was based on this that a former governor of Abia State and Chief Whip of the Senate, Senator Orji Uzor Kalu, in a letter dated December 13, 2021, urged the caretaker committee to consider postponing the national convention.

His suggestion came after the chairman of Progressive Governors’ Forum (PGF) and Governor of Kebbi State, Atiku Bagudu, and Buni had met President Muhammadu Buhari on November 22, 2021, before the February date announcement.

Kalu also suggested that the presidential primary and the convention of the party be

conducted the same day.

It is public knowledge that the congresses recently conducted by the party led to further polarisation in many of the state chapters. At the end of the congresses, there were crises in at least 14 state chapters of APC at the last count. The states included Lagos, Bauchi, Imo, Enugu, Plateau, Zamfara, Kwara, Gombe, Ogun, Osun, Oyo, Ekiti, Kano, and Taraba.

Aggrieved party members from Lagos, Zamfara, Taraba, Ekiti, Kwara, and Kaduna states had also filed petitions against the party leadership at both state and national levels.

At the moment, no fewer than seven cases are pending before the Federal High Court, Abuja, challenging either the legitimacy of the Buni-led party committee or the decisions taken by the committee since its inauguration on June 25, 2020.

Following the increasing court cases and the alarming polarisation of the party, particularly at the state level, the caretaker had set up the Senator Abdulahi Adamu reconciliation committee to halt the seeming descent into anarchy. But, like the other committees before it, the Adamu committee was unable to record remarkable breakthrough.

However, it was able to reconcile aggrieved members in Enugu, Abia and Gombe state chapters of the party.

Aside from the crisis in the

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Contenders for APC National Chairman Who among these men will lead the ruling party?

Although the modalities for the February 26 National Convention of the All Progressives Congress (APC) has not been announced, one of these men, without a doubt, will lead the new National Working Committee (NWC) of the ruling party, writes Chuks Okocha

W

ith the February 26 date confirmed for the much-awaited national convention of the All Progressives Congress (APC), the battle for the party’s national chairmanship would kick off soon in full steam. This has necessitated a categorisation of the aspirants. Although it is looking like a battle of former governors, other contenders also seem ready to put up a strong contest.

The contest also seems like a realignment of the political forces that came together to form the APC, as some believe stakeholders may have agreed in principle to allow one of the legacy political parties to produce the next national chairman of the party.

For the record, APC was formed by a coalition of the Action Congress of Nigeria (ACN), led by a former governor of Lagos State, Bola Tinubu; Congress for Progressives Change (CPC), led by Buhari; New Peoples Democratic Party (NPDP), a faction of the PDP, led by the governor of Sokoto State, Aminu Tambuwal; his then Rivers State counterpart, Chibuike Amaechi; and former Senate President, Dr. Bukola Saraki. There were also segments of then All Nigeria Peoples Party (ANPP) and All Progressives Grand Alliance (APGA), led former Imo State Governor, and now Senator, Rochas Okorocha.

So far, the CPC has taken the presidency, with President Muhammadu Buhari; ACN produced the vice president, in the person of Professor Yemi Osinbajo; while ANPP produced the Senate President, with Ahmad Lawan However, in the 2023 political calculations, a source at the weekend said though there was no official zoning of the offices of the party for the national convention, the CPC elements might almost certainly produce the national chairman of APC. The source said ACN stakeholders might produce the presidential candidate of the party.

The Chairmanship Contenders Kashim Ibrahim-Imam

Kashim Ibrahim-Imam, from Borno State, is currently Chairman of TETFUND Board of Trustees. He was twice the Peoples Democratic Party (PDP) governorship candidate for Borno State in 2003 and 2007, but he lost both elections to ANPP’s Ali Modu Sheriff.

STRENGTHS:

Abdulaziz Yari

WEAKNESS:

Al-Makura has running battles with the Economic and Financial Crimes Commission (EFCC) and may make a negative brand for the APC as party national chairman.

He is reputed for not keeping to his promises and perceived as a selfish politician. He is rumoured to be in the habit of always running to the presidency to negotiate positions he wants, to the detriment of his party.

In 2011, Al-Makura allegedly negotiated with PDP to win the governorship seat. He was said to have repeated this in 2014.

Abdullahi Adamu

The senator for Nasarawa West Senatorial District, Abdullahi Adamu was governor of Nasarawa State from 1999 to 2007.

STRENGTHS:

As former governor and thirdterm senator, he enjoys the same privileges as former governors for the contest, including a large war chest. This may also be considered a compensation for him, having yielded the senate presidency to Ahmed Lawan, following Buhari’s intervention.

WEAKNESSES:

Adamu has lots of baggage on his personality. He is also a frequent guest of the EFCC on account of corruption allegations, and would not make a good brand image for the APC. A majority of party members see him as too old to be in the race, due to the complex nature of the job. At 75, Adamu is rated as too ambitious and might not make a good candidate for the national chairmanship of APC.

George Akume

A two-term former governor of Benue State, Senator George Akume is Minister of Special Duties and Inter-Governmental Affairs.

WEAKNESSES:

WEAKNESSES:

Tanko Al-Makura

Tanko Al-Makura is former governor of Nasarawa State. The 69-year-old businessman-turnedpolitician is keen on becoming the next APC NWC chairman.

STRENGTHS:

As a former governor and serving senator, Al-Makura has the war chest to prosecute the election, and he has the experience and network to become the next national chairman

Danjuma Goje

Ali Modu Sheriff

of APC.

Ibrahim-Imam was appointed Presidential Liaison Officer to the Senate at the start of President Olusegun Obasanjo's administration.

He was not a founding member of the CPC, before it merged with other legacy political parties to form the APC, but he has solid contacts across the parties and in the government.

He has been around for a while and boasts enviable experience required to move the party in a new direction. Largely seen as a friend of all tribes.

His aspiration could be affected by his links to the PDP family, where he contested twice for the office of governor where he lost election twice to Sheriff, who is also in the chairmanship race. Borno was originally an ANPP state.

Saliu Mustapha

STRENGTHS:

As a cabinet member, he can muster the confidence of some of his colleagues. He also has huge financial resources required to battle for the national chairmanship seat.

As a former governor and senator, he has the contacts necessary to get the APC top job.

Akume is seen as arrogant and boastful, which were some of the factors that made APC to lose Benue to the opposition PDP. This followed the defection of Governor Samuel Ortom to the PDP. Akume does not seem to appeal to the new breed of politicians in APC. He has the notorious reputation of drinking at crucial moments. His stewardship as Benue State governor was alleged to be unimpressive.

Akume's role in APC losing Benue to the opposition is well documented and may be a minus for his aspiration.

The controversy surrounding his then ambition and scheming for the senate presidency may be an albatross for his new quest.

APC members are wary of the

Kashim Shettima imposition of party officials and Akume's antecedents in that regard is not pleasant.

Abdulaziz Yari

He is a two-term former governor of Zamfara State, and a frontline contender to the position.

STRENGTHS:

He is former chairman of the Nigerian Governors Forum (NGF), a position that gave him a lot of influence and respect among his former colleagues and some serving governors. He has the resources and political experience.

WEAKNESSES:

If antecedents were anything to go by, then Abdulaziz Yari would be a bad sell for APC. The way Yari managed the last APC 2018 primaries, before the 2019 elections, was a disaster, which caused the total loss of APC candidates in the state to PDP. His role in curtailing bandits during his tenure as governor of Zamfara State was not impressive.

Today, his negligence in the handling of bandits is almost crippling the country.

Political watchers saw the recent defection of the current governor of the state, Bello Matawalle, to the ruling APC as a threat to Yari’s aspirations. Matawalle is reportedly not on the same page with Yari and has even accused the former governor of corrupt practices.

Saliu Mustapha

He is an astute grassroots politician from Kwara State and the Turaki of Ilorin. Mallam Saliu Mustapha is the founder of Saliu Mustapha Foundation (SMF), which is involved in huge philanthropic services.

STRENGTHS:

He represents new hope in the political landscape of the country.

A die-hard Buharist, Mustapha, has an edge over other contestants, as he is seen as a bridge between key party stakeholders, including the older and younger generations in the party.

Mustapha has paid his dues in political party administration. He was once national deputy chairman of the defunct CPC, one of the legacy parties that formed the APC, and a founding member of the ruling party.

His membership of the defunct

Sunny Moniedafe CPC gives him an edge, as both ACN and ANPP blocs have had their slots; it looks like the turn of the CPC bloc to produce the next national chairman.

Mustapha is focused and regarded as one with a great vision for the party. He appeals to the majority of party members, because of his unique qualities and unifying role in the party. He is young and energetic, a major attribute members look forward to. The Kwara State governor is said to be behind his aspiration, including some ministers and governors.

WEAKNESSES:

He is in battle with former governors that are seen as heavyweight political gladiators. And he may lack the financial capability to effectively pursue his ambition.

Ali Modu Sheriff

A two-term former governor of Borno State, Ali Modu Sheriff is by disposition, a controversial character, who had traversed the two major political parties.

STRENGTHS:

Ali Modu Sheriff is a founding member of the APC, and also a leader of the defunct All Nigerian Peoples Party (ANPP). Sheriff is very rich and has the resources to stage a huge campaign for the national chairmanship seat. He has political experience and can gather some support from his ex-colleagues.

Sheriff's chairmanship of PDP a few years ago, which remains his major testimonial, is seen by his camp as a huge political advantage, which the APC should leverage upon at the convention. Having presided over the PDP, although largely controversial, the former Borno State governor is believed to know the strengths and weaknesses of the opposition party and should come to the battlefield better prepared than many others.

WEAKNESSES:

Ordinarily, many Nigerians may not take a party associated with Sheriff as the national chairman serious. He has a reputation for destabilising the political structure of parties. His stint as PDP factional national chairman was an eye-opener to the political class, to dine with the former Borno State governor with a long spoon.

Sheriff's alleged involvement in the creation of Boko Haram is in the public domain. His association

Sani Mohammed Musa with the late founder of the terrorist group, Mohammed Yusuf, also known as Ustaz Mohammed Yusuf, is an established fact. A lot of people would be dazed if the APC gave him the opportunity to chair the party. Sheriff enjoys little trust among the APC ruling class and even party members.

Kashim Shettima

Senator Kashim Shettima is also a two-term former governor of Borno State, and currently a senator.

STRENGTHS:

A cerebral senator and wellconnected among the top echelons of the party, he enjoys the support of his governor, Professor Babagana Zulum, and some amount of goodwill among his colleagues.

He also has requisite experienced for the job.

WEAKNESSES:

He falls among the category of ex-governors that are associated with the imposition of party officials, without regard to party structure.

Seen as a weak brand to represent the party, his handling of the Boko Haram crisis, when he held sway as Borno State chief executive, left much to be desired.

Sunny Moniedafe

A former Federal Capital Territory (FCT) chairman of the defunct Action Congress of Nigeria (ACN), Sunny Moniedafe is from Delta State.

STRENGTHS:

Moniedafe enjoys the privilege of entering the contest with no baggage.

Amiable and a good sell for the party, he believes the party could change for the better if it made the right choices in leadership. Seen as brave and courageous, Moniedafe is of the new breed politicians. He may not have previously occupied any elective office, but he believes his administrative experience in party management even before APC was established, gives him an edge.

WEAKNESSES:

He is from Delta State, which seems not to be in tandem with the unofficial zoning of the chairmanship seat. He does not seem to have the requisite experience to manage such a big political party.

Sani Mohammed Musa

Musa, 54, is senator for Niger East Senatorial district. He had

previously contested for the PDP governorship ticket in his state but lost. Musa is a major contender in the race.

STRENGTHS:

Musa is entering the race with a clean slate and has no issues with any of the anti-graft agencies. He also has a smoothrunning relationship with party members. The young politician, who is fondly called “Sani 313” by his political admirers, believes he has what it takes to take on the chairmanship position.

WEAKNESSES:

He does not have the necessary experience as a party administrator. He needs to put in more effort to boost his popularity among the top political elite. His endurance level and loyalty to the party has not been tested. He is not a member of the CPC group and has a serious EFCC case over the card reader controversy.

Danjuma Goje

Danjuma Goje, a senator and former two-term governor of Gombe State, joined the APC from the Peoples Democratic Party, where he defected.

STRENGTHS:

He enjoys the same privileges as former governors. Goje's political influence in the state was instrumental to the APC taking over the state in 2019.

As a third term and current senator, he enjoys the support of top party delegates. A highly respected politician with some whiff of national clout and appeal, he boasts huge experience.

WEAKNESSES:

Political observers in the North-east have expressed fear that the friction between the lawmaker and Governor Inuwa Yahaya over control of party structure in the state may affect his ambition. They argue that the influential role of the Progressive Governors Forum in determining who gets what in the party may be deployed by Yahaya to stall Goje’s aspiration.

Party members are not too disposed to former governors ascending the national chairmanship position, because of their characters of imposing party officials. This may work against Goje as well.

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Group News Editor: Goddy Egene

Email: Goddy.egene@thisdaylive.com, 0803 350 6821, 0809 7777 322, 0807 401 0580

BUILDING EXECUTIVE-LEGISLATIVE HARMONY...

President Muhammadu Buhari (R) receives the President of the Senate, Senator Ahmad Lawan during an audience at the State House... yesterday

PHOTO: SUNDAY AGHAEZE

Lawan: National Assembly to Rework, Pass Electoral Bill Wednesday Says Buhari will get bill for assent next week House to reintroduce proposed legislation today, says Gbajabiamila Time running out on new electoral law, IPAC insists 19 northern CSOs ask NASS to override president’s veto Deji Elumoye, Sunday Aborisade, Onyebuchi Ezigbo, Udora Orizu in Abuja and Francis Sardauna in Katsina President of the Senate, Dr. Ahmad Lawan, has hinted that the National Assembly was ready to rework and pass the 2021 Electoral Act Amendment Bill which President Muhammadu Buhari refused to assent to last December on Wednesday.

Lawan, who spoke with newsmen yesterday after a closeddoor meeting with President Buhari at the State House, Abuja, said he was hopeful that both chambers of the National Assembly would pass the bill on Wednesday (today) and be ready to re-present it to the President by next week.

This was just as the Speaker of the House of Representatives, Hon. Femi Gbajabiamila also disclosed yesterday that the proposed legislation which was rejected

by President Muhammadu Buhari would be reintroduced today for amendments.

Gbajabiamila, who made the disclosure while delivering his welcome address at the resumption of plenary, noted that the objective of the lawmakers in introducing the direct primary provision was to strengthen the foundations of democracy so that it works for all of the nation’s people.

But leadership of the Inter Party Advisory Council, (IPAC) has expressed concern over the continued delay in the resolution of the Executive-Legislative differences on the matter, just as the Conference of Northern States Civil Society Networks on yesterday asked the National Assembly to, as a matter of urgency, override the president’s veto on the passed Electoral Act Amendment bill.

Speaking further, Lawan: “Well, I smile because that again, by the grace of God tomorrow (today) both chambers, the Senate and the House of Representatives will pass the bill. And I hope that by before the end of the week, the bill could be brought back to Mr. President for his assent.

“I hope that but one thing I'm

sure by the grace of God is we are passing the bill, the Electoral Act Amendment Bill 2010, tomorrow Wednesday the 19th in both chambers, and we are happy that at the end of the day, we have been able to narrow down our differences and arrive at the very patriotic resolution that our country must have a new electoral law that will guide the 2023 general elections in the country, and Nigeria would have everything to benefit from this law.

“And for us in the 9th Assembly, the Electoral Act Amendment Bill is one of our major legislative agenda that we wanted to deal with in the 9th National Assembly, and to the glory of God Almighty Allah. by tomorrow (Wednesday), we will be able to pass that bill for Mr. President to assent to it.

“I hope that the cleaning process will not take more than a day.

But if it does, then it has to be early next week. But I'm very optimistic that there is not much to clean because normally when we pass the bill like this, it goes to the legislative drafting unit of the National Assembly.

“So, what you have in the National Assembly, as passed, is not the final document that comes to the President.”

Speaking earlier in his welcome speech at plenary after a one-hour closed session, where the issue and other critical ones were deliberated upon, he said the Senate, after due consultations, decided to critically examine the observations raised against the bill by Buhari and address them accordingly.

He explained: "The Senate postponed discussions on the consideration of the response of Mr. President on the Electoral Act 2010 Amendment Bill to enable us consult with our counter parts in the House of Representatives and also consult with our Constituents.

"Like we all know, the Senate and indeed the National Assembly worked so hard on the bill.

Having consulted, the Senate will expeditiously look into the issue."

Lawan added that the review of the 1999 Constitution was a major plank of the legislature

agenda of the 9th Senate and that the committee on the review of the 1999 Constitution had done so much work so far.

He reminded his colleagues that political activities leading to the 2023 general elections had already commenced.

According to him: "This Senate should continue to provide the support that Independent National Electoral Commission (INEC) needs for successful elections across the country.

"Most of our colleagues will be running for various political offices in 2023. I wish all our distinguished colleagues easy victories and success at the polls."

House to Reintroduce Proposed Legislation Today

Gbajabiamila disclosed that the proposed legislation which was rejected by President Muhammadu Buhari would be reintroduced today for amendments.

He also stressed that the process by which political parties nominate candidates for election is essential, perhaps even just as important as the general election itself.

According to the Speaker, a primary nomination process that deprives the majority of party members of the opportunity to choose who represents them in the general elections was susceptible to bad outcomes and ought to be fixed.

He faulted the argument that lack of proper membership registration of the political parties was among the reasons why the bill was rejected.

He said failure of political parties to maintain a proper register of members violates the spirit of the constitution, as it makes it impossible for the Independent National Electoral Commission (INEC) to enforce the constitutional requirement for political parties to ensure that their membership reflects the federal character of Nigeria.

He opined that including a direct primary mandate in the law, would have forced political parties to properly register their members

within the shortest possible time.

While insisting that the proposal for direct primary elections was valuable for building accountability in the political system, Gbajabiamila however assured that a credible electoral law was what the people want and that’s what they would get.

He added that the lawmakers would work quickly to address the mitigating concerns, pass the bill and send it back to the president for assent.

The Speaker said, "Principal amongst these priorities is the Electoral Act (Amendment) Bill.

First, let me express my profound gratitude to all of you for your work to pass this most critical legislation. I want to commend you all for the work done.

“Unfortunately, that bill did not receive presidential assent, and it is unlikely that it will in its current form. Now, we have to choose between sticking to our guns regarding the provision to mandate direct primary elections for political parties or reworking that provision to save the rest of the bill.

“Some argued that political parties do not have proper registers of their members, which was a reason to reject the direct primary option. This is an appalling admission that political parties in the country do not have credible and up to date registers of their members.

“We are left to question how those parties have thus far managed their affairs, including conducting congresses and primary elections, whether by direct or indirect means.

"Nonetheless, it is disappointing that the failure of political parties to adequately document their membership is being used to not give the Nigerian people the power to fully participate in our nation’s politics.

“If nothing else, including a direct primary mandate in the law, would have forced political parties to properly register their members within the shortest possible time. This would have been the singular most significant reform of our political party system

in a generation. I remain convinced that the proposal for direct primary elections is valuable for building accountability in our political system.”

He added: “But we must not allow the perfect to be the enemy of the good. Therefore, the House will reintroduce the amendment tomorrow. And we will work quickly to address the mitigating concerns, pass the bill and send it back to President Muhammadu Buhari for assent.

"As to the issues relating to inelegant drafting and other technical errors in the bill. This is a matter of concern as it appears the version sent to the President differs from what is circulating in the public domain. However, in December of last year, I appointed a technical team to look into the issue. I expect to have their report within the next day or two so that we can proceed to the next stage.

“We have less than thirteen months to the next general election, so time is of the essence. A credible electoral law is what the people want. It is what the people deserve, and we must give to them. The Electoral Act (Amendment) Bill includes many other provisions that will serve our democracy well, and we cannot throw away the baby with the bathwater."

Speaking further, he assured that the lawmakers would prioritise action to pass the constitutional amendment bill.

The Speaker thereby urged his colleagues to approach the last stretch of their tenure with the forthright focus and earnestness that comes from knowing that they are in a race to make good history.

Time Running Out on New Electoral Law, CSOs Say

Meanwhile, the leadership of the Inter Party Advisory Council, (IPAC) has expressed concern over the continued delay in the resolution of the Executive-Legislative differences on the passage of the amended Electoral Act into law.

In the same vein, the Conference of Northern States Civil Society Networks yesterday asked the

National Assembly to, as a matter of urgency, override President Muhammadu Buhari’s veto on the passed Electoral Act Amendment bill.

IPAC said the failure to reach a compromise in the short run may invariably translate into the death of the other very crucial provisions, such as the provisions on electronic transmission of election results.

In his speech at the meeting of party chairmen with INEC on the FCT area council election held at the INEC headquarters, Abuja, National Chairman, IPAC, Mr. Yabagi Yusuf Sani, said that time is dangerously running out for the resolution of the disputes between the two arms, adding that immediate resolution of the unnecessary impasse over the Electoral Amendment Bill should be seen as a superior and overriding national interest. " Perhaps, the most serious and potent impediment to the successful conduct of the 2023 general elections, is the lingering debacle between the Executive and the Legislature on the fate of the 2021 Electoral (Amendment) Bill.

"While time is dangerously running out for the resolution of the disputes between the two arms, the IPAC is of the position that the controversy may have been contrived in the first instance, purely and clearly in the pursuits of narrow and self-centered political ambitions of some of the gladiators," he said.

He said IPAC was using the occasion to make strident call for the immediate resolution of the unnecessary impasse over the Electoral Amendment Bill in the superior and overriding national interest.

Yagbagi said that IPAC has persistently suggested at various forums that, the first rational step in the circumstance, is for the two apex legislative houses to immediately expunge from the Bill, the provisions that make it mandatory for political parties to use Direct Primary elections in the selection of their flag bearers in general elections.

Continued on page 43

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A GIFT FOR THE DRUG CZAR...

Chief of Air Staff, Air Marshal Oladayo Amao (l) presenting a gift to the Chairman/CEO of NDLEA, Brigadier General Muhammad Buba Marwa (Rtd), at his office when the later paid him a visit… recently

2023: We Will Not Allow Riff-raffs Take over Power, Babangida Aliyu Tells Osinbajo Vice president says FG determined to win insecurity challenges Ibrahim Shuaibu in Kano A former governor of Niger state, Mr. Muazu Babangida Aliyu, yesterday described the VicePresident, Prof. Yemi Osinbajo as the best candidate for the All Progressives Congress (APC) in the 2023 presidential election, saying the country would not allow those he described as riff-raffs take over power next year.

The former governor and Chairman Board of Trustees, Sir Ahmadu Bello Memorial Foundation, said these at the 2022 annual lecture of the foundation in Kano.

Aliyu, who is of the People's Democratic Party (PDP) said his party would not allow, “riff raffs to take over the power even if they bring all the money in this world.”

Babangida added: “Any riff-raff or moneybags will not get to the highest office in the land, even if they bring out money.

Mr Vice President, do you know you are the best candidate in your party?”

He described Osinbajo as the only candidate that knows the country and has the acceptance of everyone across the country regardless of tribe and religion.

Speaking further, Aliyu said unless a clear paradigm shift was effected in correcting the present ills and turn the hand of the clock backward, the north would continue to slide backward, positing that, no one would ever be safe with persistent insecurity taken a heavy toll on the region.

Osinbajo who was in Kano for the memorial lecture, also paid a condolence visit to the families of late Bashir Othman Tofa, and late Islamic scholar, Dr. Ahmad Ibrahim Bamba of the Bayero University, Kano.

The vice president, while speaking earlier had disclosed that the federal government was working round the clock to ensure that those apprehended as a result of the insecurity challenges in the country are prosecuted.

"We are not unmindful of the present trauma the people of the north are currently undergoing.

We are very much concerned about the future of our children and we are doing all we can to protect what we believe is in their best interest. The issue of banditry is not peculiar to Nigeria alone knowing the prevailing trend the world over," he said.

Osinbajo who delivered he

Sardauna memorial lecture explained: "The need for restrategisation in the way we are doing in spheres of governance and leadership has also become imperative.

"We would continue to fail in our responsibility if we have no reason to address knotty issues affecting the nation. We should all believe that Nigeria belongs to every Nigerian irrespective of one's ethnic or religious

background."

The Vice President described the late premier of northern region, Sir Ahmadu Bello, the Sardauna of Sokoto, as an exceptional icon in the business of governance whose sterling leadership quality would remain indelible in the political lexicon of the nation. He said differences pertaining to ethnic and religious decisions were what he fought against during his lifetime.

The Premier of Alberta, Canada, Mr. Jason Kenney, has ordered his Justice Minister and Solicitor General, Mr. Kaycee Madu, to relinquish his ministerial duties pending the outcome of an investigation on the controversial call Madu made to Edmonton's Police Chief, Mr. Dale McFee, about a traffic ticket.

Madu, who hailed from Nigeria, was alleged to have made the call

to discuss a distracted driving ticket that was issued to him on March 10, 2021, for allegedly using a cellphone while driving. He was appointed attorney general in August 2020.

Kenny said he had conveyed to Madu his, “profound disappointment in his decision to contact the Edmonton police chief after receiving a ticket for a traffic violation,” and insisted that, “it’s essential the independent administration of justice is maintained.”

Kenney said: “I will appoint a

also the compelling need for the constitution to be reviewed in order to accommodate traditional authorities in view of the role they play in the society.

In his remarks, Kano state governor, Mr Abdullahi Umar Ganduje, extolled the sterling leadership qualities of the late premier of the northern region for leading by example and in exhibiting leadership devoid of primordial sentiment.

House Asks Midstream and Downstream Regulatory Authority to Grant Licences for Modular Refineries Udora Orizu in Abuja The House of Representatives at plenary yesterday directed the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) to grant licences for establishment of modular refineries.

The lawmakers called for a review of the existing 52 licences to enable either the cancellation or additional licences.

The House also mandated its committees on host communities and petroleum downstream to

investigate the activities of illegal refineries and directed its security committees to probe the alleged involvement of security agencies in the illegal oil refining in Niger Delta Region.

Furthermore, it mandated the Inspector General of Police and other relevant security agencies to immediately clampdown on the activities of illegal refineries in the Niger Delta Region and prosecute those found culpable.

The Green Chamber further mandated the Federal Ministries of Petroleum Resources and

Canada : Premier Suspends Nigerian-born Attorney General over Traffic Fine Dike Onwuamaeze with agency report

According to him, the issue of good governance and leadership in a democratic setting required the commitment and doggedness of a leader. Commenting on the role expected from the traditional institutions on the need to rise to the challenge of maintaining peace in the country, the vice president pointed out that the traditional institutions are indispensable in making the nation secure. He stated that, there was

respected independent investigator to review the relevant facts and to determine whether there was interference in the administration of justice in this case.

“In the interim period, I have asked Minister Madu to step back from his ministerial duties. “(Energy) Minister Sonya Savage will act as Minister of Justice and Solicitor General during Minister Madu’s leave of absence.”

However, Madu has clarified via a statement that he never asked that the ticket be dropped.

He explained: “To be abundantly clear, at no point did I request that the ticket be rescinded. I would never do that.

“However, in that particular call, I regret raising the issue at all with the Edmonton Police Service (EPS) Chief, Mr. Dale McFee.” Madu reportedly claimed to have paid the ticket “promptly” and in full, adding that he had, “the utmost respect for our men and women in uniform, and for the invaluable, often thankless role they perform.”

Environment to urgently develop and implement modalities to clear off the soot currently experienced in Rivers State and other parts of the Niger Delta Region.

The resolutions were sequel to adoption of a motion of urgent public importance sponsored by Hon. Unyime Idem (PDP, Delta).

Moving the motion, Idem said the House was aware that the economy of Nigeria had over the years been premeditated and totally dependent on oil from the region.

He expressed concerns that the Niger Delta region had over the years been plagued by the activities of illegal oil refineries at the detriment of the lives of residents and the economy of the country.

These activities, according to the lawmaker had compounded the age-long problem of environmental pollution and degradation caused by the seismic and exploration activities of the multinational oil companies operating in Niger Delta.

He said he was disappointed that some security agencies and some influential individuals had been alleged of complicity in the activities of these illegal refineries.

Making reference to the soot currently suffered by citizens and residents of Rivers State which

was a result of incomplete burning of organic matter by the illegal refiners, Idem warned that if the trend continued unabated, the Niger Delta Region would be at health risk and economic activities might be crumbled.

Adopting the motion, the House gave the relevant committees six weeks to investigate the matter and report back for further legislative action.

Also at the plenary, the lawmakers, adopting a motion sponsored by Hon. Paschal Obi, urged the federal government to prioritise the construction of Perimeter Fence for the Federal University of Technology, Owerri in the 2023 Budget estimates.

They also urged the Federal Ministry of Education and other Ministries, Departments and Agencies to commence immediate demarcation of the land area covering the University Community through fresh survey plans and other Geophysical activities to halt further encroachment.

They further urged the federal government to collaborate with the Imo State Government in the drive to promote good neighbourliness amongst the University Community and the original landowners through proper land identification and demarcation.

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TRAINING FOR ENTREPRENEURSHIP SKILLS... .L-R: Head Special Duties, Federal Ministry of Humanitarian Affairs, Disaster Management and Social Development, Mrs. Nadia Muhammed; Permanent Secretary, Bashir Alkali and National Coordinator, National Social Investment Programme (NSIP), Engr. Umar Bindir, during the flag off of the master training for Lead Trainers for Life, Foundational and Entrepreneurship Skills training in Photo: ENOCK REUBEN Abuja ...recently

Buhari Never Directed Fuel Subsidy Removal, Says Lawan Doubts 100m litres PMS daily consumption TUC supports elimination of petrol subsidy Deji Elumoye and James Emejo in Abuja The Senate President yesterday said President Muhammadu Buhari had not directed anyone in his government to implement the removal of petroleum subsidy.

Lawan, who spoke with newsmen yesterday after a closed-door meeting with Buhari at the State House, Abuja, said he was in the villa to convey the feeling of his constituents on the planned fuel subsidy removal and other issues to the president.

However, the Trade Union Congress (TUC) yesterday expressed support for the federal government's plan to end fuel subsidy payments in the country.

Minister of Finance, Budget and National Planning, Mrs. Zainab Ahmed, had announced last October that the federal government made provision for petrol subsidy only for the first six months of 2022, as the government looked towards complete deregulation of the sector.

"In our 2022 budget, we only factored in subsidy for the first half of the year; the second half of the year, we are looking at complete deregulation of the sector, saving foreign exchange and potentially earning more from the oil and gas industry,” Ahmed had said.

But commenting on the issue, Lawan said the federal legislators were worried about the different agitation and planned protests around the country, necessitating the discussion with the president.

According to him, the subsidy cannot be transferred to citizens even as he expressed doubts on the 100 million liters of Premium Motor Spirit (PMS) said to be consumed per day in the country.

The Senate President said he was glad to inform Nigerians that Buhari had not told anyone to remove petroleum subsidy.

He said: “Well, it will be of interest to Nigerians to hear what I've come to discuss with Mr. President among several other things. Many of us are very concerned with the recent agitations, protests, and many citizens were so concerned, our constituents across the country are very concerned that the federal government will remove the petroleum subsidy.

“And for us, as parliamentarians, as legislators representing the people

of Nigeria, this must be of interest to us. And we've just finished our recess, we had gone home to our constituencies and senatorial districts.

“And will felt the pulse of our people. And I found it necessary to visit Mr. President, as the the leader of our government and our leader in the country, to discuss this particular issue of concern to Nigerians, and I'm happy to inform Nigerians that Mr. President never told anyone that the petroleum subsidy should be removed.

“I know and I agree that the subsidy is very heavy. But I think we must never transfer the burden to the citizens.

“I believe that we need to look at the quoted figure of maybe 100 million litres that people claim we’re consuming. Is it real? I mean is it either under recoveries of subsidy?

Is it really 100 million liters per day?

How on earth are we consuming that?

“We need to look at this critically and see how we can find the truth.

Because I am not convinced that within the boundaries of Nigeria we are consuming 100 million liters.

Probably neighboring countries maybe benefiting from this. Can’t we do something about it?

“It is a failure on us if we are not able to control it, this particular aspect of smuggling of the petrol and then in return, push the burden to the ordinary citizen.”

On what will happen since the 2022 budget does not provide for subsidy, he answered: “No, I'm not going to speculate on that. But I'm telling you, what I know, from my discussions with Mr. President, and I don't want to go beyond that kind of understanding.

“He didn't tell anybody that we should remove petroleum subsidy.

And those of us who represent the people know how people are already stressed over and again, this

is going to kill everyone if people don't say we know is going to be too much for them.

“So, I just want to commend Mr. President, that he didn't order anybody, to say that petroleum subsidy will be removed, even though we know it's burden. So it’s now our task, as an administration, we must find a solution. Let's go and lock ourselves somewhere".

He commended the President for what he said was keeping his philosophy of not to over burdening ordinary citizens as he observed that government law is meant to serve the people.

“Government is meant to serve people. And the essence of government law we all know is to protect the lives and property and welfare of the people. And that federal aspect is part of the welfare.

“It may not be exactly the way we want it in the implementation of

subsidy. But that is our challenge as an administration as a government.

“So, we need to come together, both the legislature, the National Assembly, and those people and institutions and organizations that are responsible in dealing with this matter. To find a solution to this.”

Lawan, however emphasised the need for stakeholders to come together to find solution to the issue of subsidy.

While dismissing the position of the governors of the Peoples Democratic Party (PDP) on subsidy removal, Lawan stressed that the main opposition party had its chance and ought to have done something about it.

According to him: “They had their time. They should have done something about it. Now we have to do something about it. I have admitted that the burden is heavy.

But I don't think that the ordinary citizen should be the one to bear

the burden.”

Speaking earlier during plenary on the 2022 budget, the Senate President noted with regret that borrowings remained the only optional left for the country to fund the spending plan due to poor revenue being generated by the nation, at the moment.

He, however, said efforts would be intensified by the Senate to carry out aggressive oversight activities that would make the revenue generating agencies to be more alive to their responsibilities.

Lawan said, "Funding of the 2022 budget is predicated on significant borrowing. Our country is caught between the devil and the deep blue sea.”

TUC Backs Fuel Subsidy Removal

Meanwhile, the National President Continued on page 43

OPEC: Nigeria’s Production Underperformance Hits 2.4m Barrels in December Sees stable market despite Omicron Oil price nears $90 per barrel Emmanuel Addeh in Abuja With a daily underperformance figure of 78,000 barrels per day in December, Nigeria lost as much as 2.418 million barrels of crude in the last month of 2021, data released by the Organisation of Petroleum Exporting Countries (OPEC) showed yesterday.

However, Brent oil, Nigeria’s benchmark, rose further yesterday to close at $88 a barrel, having earlier hit $88.13, the highest since October 2014.

The month of December, according to the OPEC report, also saw Nigeria slump lower than other previous production performances, compared to for instance, October, in which 1.228 barrels were pumped per day, and November during which 1.275 million barrels were produced per day.

Given the average price of about $85 per barrel for the month, the inability to pump more oil may have cost the country approximately $205.5 million in the entire month.

The data, according to OPEC, which uses both primary and secondary sources to obtain

information on production levels, was received from direct communication with Nigeria.

Among members of the cartel, the OPEC Monthly Oil Market Report (MOMR) for January showed, only crisis-torn Libya, lost more oil than Nigeria, with a production deficit of roughly 119, 000 barrels per day.

For proper context, Nigeria’s quota for February remained at 1.701 barrels per day, but the country’s effort to produce more in the last few months had not yielded any fruits.

While the target was to produce about 1.86 million barrels daily by the Nigerian National Petroleum Company (NNPC) Limited, poor upstream infrastructure, long term waning investment and the impact of the OPEC-induced shutdowns last year, have combined to hobble the number of barrels pumped

by Nigeria.

Promises by the Minister of State, Mr. Timipre Sylva and the NNPC Group Managing Director, Mallam Mele Kyari, that the country would hit between 1.7 million barrels per day and 1.8 million barrels per day by the end of 2021 remained

largely unrealised.

Nigeria had also been losing the desperately needed foreign exchange to its intractable payments for petrol subsidy, which have increased to over N100 per litre in recent months.

On the Nigerian economy, OPEC stated that although the country recorded a surplus of $3.6 billion, consumer prices have continued to pose a serious challenge.

“According to recently released statistics from the Central Bank of Nigeria (CBN), the country’s current account registered its highest surplus since early 2018, amid a strong trade position.

“In 3Q21, the current account posted a surplus of $3.6 billion compared with $348 million in 2Q21 and a shortfall of $3.6 billion in 3Q20.

“In 3Q21, exports exceeded imports by about $1.8 billion, recording the largest excess since late 2019. Additionally, improving oil prices continued to support the economic recovery, coupled with easing of the inflation rate, which marginally fell for the second month in a row to 15.4 per cent from 15.9 per cent, marking the lowest

rate since November 2020, largely due to sustained moderation in food prices.

“However, on a monthly basis, consumer prices increased by 1.08 per cent, following a 0.98 per cent increase the previous month,” it stated.

On a global level, OPEC stuck to its forecast for robust growth in world oil demand in 2022 despite the Omicron coronavirus variant and expected interest rate hikes, predicting the oil market would remain well supported through the year.

Tight supply has given impetus to the current oil rally, and OPEC's report also showed the group undershot a pledged oil-output rise in December.

The producers' group said it expects world oil demand in 2022 to rise by 4.15 million barrels per day (bpd), unchanged from last month while oil consumption will surpass the 100 million bpd mark in the third quarter, also in line with last month's forecast.

It added: "While the new Omicron variant may have an impact in the first half of 2022, which is dependent on any further

lockdown measures and rising hospitalisation levels impacting the workforce, projections for economic growth remain robust."

According to the cartel: "The oil market is expected to remain well-supported throughout 2022."

Although the report also showed higher output from OPEC as the group and allies, known as OPEC+, gradually unwind record output cuts put in place last year, still the expected surplus this quarter has remained elusive.

OPEC+ has aimed to raise output by 400,000 bpd a month, with about 253,000 bpd of that due to come from the 10 OPEC members covered by the deal, but production has increased by less than that as some producers struggle to pump more.

The report showed OPEC output in December rose by 170,000 bpd to 27.88 million bpd, undershooting the rise OPEC was expecting.

In the same vein, OPEC raised its forecast for growth in 2022 production of United States shale, to 670,000 bpd from 600,000 bpd, with the growth forecast for overall non-OPEC supply in 2022 left unchanged.

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Editor, Editorial Page PETER ISHAKA Email peter.ishaka@thisdaylive.com

TIME TO DEEPEN DEMOCRACY WITH TECHNOLOGY

Tanimola Oyewole canvasses the adoption of a mobile voting app that allows registered voters to vote from the comfort of their homes

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itizens’ involvement and active participation in civic and political matters are cardinal to democracy. It therefore means that citizen’s involvement in governance and decision-making at all levels is a necessary tool to sustain a democracy. But this is not the case in Nigeria.

Since its return to electoral democracy in 1999, Nigeria’s elections have been characterized by voter apathy. A small percentage of the voting population actually vote, in negation of the ideals of ‘majority rule’; one of the basic tenets of democracy. The voter apathy situation becomes awful when one considers the declining numbers that vote during elections. Voter turnout in relation to registered voters and the overall population has become so awful.

This appalling situation has thrown a challenge to the Nigerian technology community. It is indeed time to address voter apathy by adopting a mobile voting app that allows registered voters to vote with their National Identification Number, NIN-registered phone from the comfort of their homes - including foreign based Nigerians.

The effort would start off by engaging the Independent National Electoral Commission (INEC) to get the requirements that the app must meet in order to qualify for the intended use. With those requirements in hand, an open invitation would be thrown out to the technology community for the development of the app and a panel of judges, including INEC, set up to assess the submissions.

The developers of the winning app would be allowed to run limited in-app advertising to recover their cost of development. The winning app would be presented to INEC and the National Assembly for legislation enabling its usage for the 2023 election. Every step taken in the process should be accompanied with massive media publicity (on social media platforms and traditional media channels) to build an all- inclusive support.

The call for the use of such app is in view of the fact that private companies, governments, civil society groups and individual citizens all rely on different internet apps for business, networking, research and a variety of other uses, so there is no reason why similar apps should not be used for voting. Today, citizens can use the Internet to conduct their banking, make purchases and donations, sign petitions, renew and apply for government licenses and pay their taxes. The power of the internet to transform the nature of traditional service delivery, particularly to improve communication and access to information, has raised interest in its use to enhance the accessibility of the electoral process as well.

The ability of the internet to create new participative spaces as well as expand existing ones suggests it has the capacity to improve accessibility to voting for many electors. Besides, its influence on other aspects of elections and government in other climes, such as campaigning, fundraising, membership recruitment, lobbying and access to information for media and citizens, suggests that it has a progressively important relationship with electoral politics and will likely continue to have a considerable impact on the character of democracy. The newly emergent concept of electronic democracy suggests it may be useful to further explore the potential of the internet to improve the electoral

THE NEWLY EMERGENT CONCEPT OF ELECTRONIC DEMOCRACY SUGGESTS IT MAY BE USEFUL TO FURTHER EXPLORE THE POTENTIAL OF THE INTERNET TO IMPROVE THE ELECTORAL PROCESS FOR PARTIES, GROUPS, ELECTION ADMINISTRATION, AND OF COURSE, CITIZENS

process for parties, groups, election administration, and of course, citizens.

The app when fully deployed, has the potential to make the voting process easier and more accessible for electors. This is especially true for remote internet voting and telephone voting given that ballots can be cast from any computer with internet connectivity or telephone.

These latter methods substantially lower the cost of voting for many electors by creating many more access points from which they are able to vote. There is the potential to eliminate long queues at polling stations and better address accessibility issues for persons with disabilities, those suffering from illness, those serving in the military or living abroad, those away on personal travel, snowbirds and other groups of citizens such as single parents who may find it difficult to visit a traditional polling station.

Additionally, remote methods of internet voting, and in some cases kiosk internet voting, afford electors the opportunity of being able to vote at any time, a feature that further encourages an elector to cast a ballot. With regard to special populations of electors, internet (especially remote) and telephone voting may also be methods of engaging those voters who are considered the hardest to reach, particularly young people aged 18 to 30. These electors, most familiar with the technology, are the most frequent reported users and would likely benefit the most from the extension of remote types of electronic voting.

It could also allow greater secrecy for special populations of electors with disabilities (including visually or hearing impaired). By voting electronically and therefore unassisted, these electors are afforded a greater degree of anonymity when casting a ballot. Enabling secrecy for these groups enhances the equality of the vote. Furthermore, enhancing accessibility and creating more participatory opportunities for electors holds promise to positively impact voter turnout.

The models could enjoy success if it is tailored to meet the specific needs of a larger segment of the voting population. The development of such apps should be based on the requirements of the electoral process as well as the specific needs of electors and other affected parties. Furthermore, the basis for a legal framework that supports internet voting and a government mandate to conduct internet voting research are important facilitating factors.

Various measures need to be considered before the next steps are taken for adopting the app for voting. These could include the gathering of additional data to measure public attitudes and those of political parties and candidates towards electronic voting. Consideration should also be given to establishing clear requirements that an additional method of voting would fulfil, as well as creating and consulting with an interdisciplinary committee of experts.

This would lay the groundwork for designing an initial small-scale trial and then progressively increasing the number of electors who vote electronically with each additional trial. These are important aspects of the process which, based on the experiences of other jurisdictions, appear to be both relevant and necessary toward creating a successful framework upon which such app can be effectively developed.

Oyewole is a development strategist in Lagos

ARARAUME AND THE NNPC BOARD Johnson Momodu writes that the removal of the Imo State politician from the board is curious

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maiden board of the new Nigerian National Petroleum Company (NNPC) Limited was inaugurated

by President Muhammadu Buhari on Friday, January 7, 2022, under the chair of Senator Margery Okadigbo.

But before the consummation of the Okadigbo-led board, there was a board that existed for three months before its composition was tinkered with.

Recall that the composition of the board was first announced on Sunday, September 19, 2021 with Senator Ifeanyi Araraume as chair, a development that was largely applauded by many southeasterners who saw the appointment, amid the mantra of marginalization, as strategic accommodation of the zone’s interest in the commanding height of the critical oil sector of the national economy.

The inauguration of the Araraume-led board, which was scheduled to hold on November 23, 2021, was suspended, indicating that there were some contending issues- real or imagined- that needed to be dealt with. The delay in inaugurating the board was writ large and there were reasonable suspicions that Araraume’s chairmanship was the cause.

Secretary to Government of the Federation (SGF), Mr Boss Mustapha, who issued a statement announcing the suspension of the inauguration neither gave the specifics nor details of reasons that undergirded the suspension. On January 7, 2022, when the President finally inaugurated the board, Araraume’s name was missing from the list.

That could not have been an oversight. He was chairman of the board. The names of other members appointed along with Araraume were retained, and Senator Margery Okadigbo was indicated as the new chair, thus validating claims that the webs of intrigues around the board were about Araraume.

But then, what was Araraume’s offence to warrant his comeuppance of being dropped as chair of the board of NNPC? Was he negatively profiled by the relevant security agencies? If that happened, Nigerians should be told the outcome of such profiling by relevant security agencies in order to stop speculations and wild guesses.

Security reports by relevant agencies gave Araraume a clean bill when he was appointed as an Executive Director of the Board of the Nigerian Communications Commission (NCC) by President Buhari, a position he resigned in 2018 to contest the governorship position in Imo State in 2019. I have yet to be made aware of any new security profiling that has come out to either vitiate or supersede the earlier security clearance.

Other members of the board scaled the hurdle of security clearance. The chairman and the entire membership of the board received their letters of appointment and were awaiting their inauguration by the President, when the inauguration was caught in a web of intrigues. There was a grand conspiratorial alliance among some powerful forces, allegedly procured by a southeast governor, a junior minister and some interests, to pressure the Presidency to replace the entire board. The problem would appear to be with the elements that plotted to have the board dissolved and not with Araraume who was the prime target of the plot.

If pieces of information gleaned from a grapevine are infallible, then it means that those who undercut Araraume were really desperate to get the Imo-born politician out of the board so that they could have their way in the NNPC especially on the eve of a general election year. Consider parts of the narrative that filtered into my ears: the forces who conspired to remove Araraume as NNPC board chairman

embarked on that voyage to limit the magnitude of opposition that they would run into in their design to access election funds before and during the 2023 general elections.

Unfortunately for Araraume, he was considered by the forces that plotted his ouster to be too strong a character to yield so easily to their shenanigans.

They feared that he might commit himself to the running of the new NNPC Limited as a profitable venture to bolster the national economy in line with the new management philosophy of the restructured company. They feared he might synergize and partner the management to consolidate on the unusual legacy of profitability that the Group Managing Director, Malam Mele Kolo Kyari, has begun to build, for the first time, in the annals of the NNPC. Already, Kyari, who is keeping fidelity with his Transparency, Accountability and Performance Excellence (TAPE) agenda, constitutes real obstacle to any attempt to turn the NNPC into a harbinger of slush funds for prosecuting general elections as had always been done in the past. The forces, as learnt, did not give this as a reason for the proposal to remove Araraume because they knew it won’t fly with President Buhari.

To be sure, the transparency component of Kyari’s TAPE agenda, aimed at maintaining positive image, shared values of integrity and transparency to all stakeholders, is gaining traction by the day while the accountability component - to ensure and assure compliance with business ethics, policies, regulations and accountability to all stakeholders - is on the upward trajectory. Performance excellence, conceived to entrench a high-level of efficiency anchored on efficient implementation of business processes which would also emplace an appropriate reward system for exceptional performance among the workforce,

has become a mantra in the NNPC. To now add an Araraume, a shrewd businessman with a knack for profit-making, to the brick wall of accountability and strict compliance with financial ethics in the new business world of NNPC would certainly be counterproductive to the real gambit of the elemental forces. Whereas, the forces accomplished their plot on the wings of some nebulous rationales, I am sure that President Buhari had nothing against Araraume, otherwise, he would not have approved of his appointment into the NNPC board in the first instance, let alone okaying his choice for the chair of the board and causing it to be announced. If anything at all, the President was worried that the subsequent delay in inaugurating the board had the potential of rolling back the gains and the rise in investors’ confidence in the oil industry that attended his assent to the Petroleum Industry Bill (PIB) to become an Act. That was, as leant, the principal reason the President reportedly approved the upgrade of Senator Margery Okadigbo from the Southeast zone so that the board could hit the ground running.

While the position of the board chair still belongs to the Southeast zone, the removal of Araraume was a loss to Imo, and, perhaps not necessarily a personal loss given the magnitude of his accomplishments and his growing business empire. The grapevine had it that the forces could not, indeed, implicate Araraume or the other members of the board of involvement in any shady deals to validate a case for blanket dissolution of the board. Had the President kowtowed to the forces’ plot to collaterally damage the Araraume-led board, it (board) would have been dissolved and Senator Okadigbo might not be chair today, as it were.

Momodu wrote from Abuja

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EDITORIAL THE TASK BEFORE DOYIN SALAMI The chief economic adviser, Salami, has his work clearly cut out

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or almost seven years, President Muhammadu Buhari had rebuffed calls for the appointment of a chief economic adviser who would be saddled with the task of formulating, coordinating, and monitoring the implementation of his economic policies.

But with barely a year to the end of his tenure, President Buhari recently appointed Dr. Doyin Salami as his Chief Economic Adviser. Whatever may have informed the presidential change of heart, the task ahead is huge. Fortunately, Salami’s experience as the Chairman of the Presidential Economic Advisory Council (PEAC) since October 2019 and his role as a former member of the Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) makes him an ideal candidate for the job at hand.

In August 2015, just about three months into Buhari’s first term in office, the CBN had indicated that fiscal policy gaps and other factors AS LATE IN THE DAY AS outside its control IT MAY SEEM, SALAMI’S had constrained APPOINTMENT PERHAPS the ability of the SIGNALS THE ASPIRATION apex bank to impact OF PRESIDENT BUHARI TO price stability in RESET THE ECONOMY AND the economy. “The drivers of the current CORRECT SOME GLARING upward inflationary DISTORTIONS THAT HAVE UNDERMINED INVESTORS’ spiral were of a transient nature CONFIDENCE and mostly outside the direct control of monetary policy. Consequently, the opportunity for further policy manoeuvre remains largely constrained in the absence of supporting fiscal measures,’’ stated the CBN that compelled our intervention at the time.

As we argued back then, at a time the country is in an economic mess that demands clear direction and competent hands, the CBN could not be left alone to continue to superintend the fiscal, trade and monetary policies, all at the same time. And with its capacity to defend the value of the naira being increasingly constrained, the CBN has desperately been throwing everything at the problem

Letters to the Editor

without any tangible results. The question now is, in the face of a burgeoning debt profile, staggering unemployment, high inflation and unstable exchange rate figures, can Salami help the president to turn the economy around in the last full year of his administration?

T T H I S D AY EDITOR SHAKA MOMODU DEPUTY EDITORS WALE OLALEYE, OBINNA CHIMA MANAGING DIRECTOR ENIOLA BELLO DEPUTY MANAGING DIRECTOR ISRAEL IWEGBU CHAIRMAN EDITORIAL BOARD OLUSEGUN ADENIYI EDITOR NATION’S CAPITAL IYOBOSA UWUGIAREN MANAGING EDITOR BOLAJI ADEBIYI THE OMBUDSMAN KAYODE KOMOLAFE

T H I S D AY N E W S PA P E R S L I M I T E D EDITOR-IN-CHIEF/CHAIRMAN NDUKA OBAIGBENA GROUP EXECUTIVE DIRECTORS ENIOLA BELLO, KAYODE KOMOLAFE, ISRAEL IWEGBU, IJEOMA NWOGWUGWU, EMMANUEL EFENI DIVISIONAL DIRECTORS SHAKA MOMODU, PETER IWEGBU, ANTHONY OGEDENGBE DEPUTY DIVISIONAL DIRECTOR OJOGUN VICTOR DANBOYI SNR. ASSOCIATE DIRECTOR ERIC OJEH ASSOCIATE DIRECTOR PATRICK EIMIUHI CONTROLLERS ABIMBOLA TAIWO, UCHENNA DIBIAGWU, NDUKA MOSERI DIRECTOR, PRINTING PRODUCTION CHUKS ONWUDINJO TO SEND EMAIL: first name.surname@thisdaylive.com

he statement from the presidency heralding his appointment said Salami is expected, “to address all issues on the domestic economy and present views on them to the president; closely monitor national and international developments, trends and develop appropriate policy responses; develop and recommend to the president national economic policies to foster macro-economic stability, promote growth, create jobs, and eradicate poverty, among others.”

Consistently, the nation’s fiscal authorities have blamed our economic woes on paucity of funds occasioned by perennial revenue shortfalls. But what is evident in the public space is that the bane of the economy transcends inadequate revenues. It finds expression in the inefficient and criminal application of available funds. The humongous leakages and wastages in the public service are areas that need to be looked at. Besides, Salami may also wish to fish for quick wins in the federal government’s medium-term National Development Plan (NDP 2021-2025) which was unveiled towards the end of 2021.

The unbridled resort to borrowing has become a deep source of worry, while the oft-bandied argument by government that Nigeria does not have a debt sustainability challenge is hollow. A nation that services debt with over 80 per cent of its earnings is certainly in a quandary. Salami must rise against piling up more debts to the already accumulated stock of about N40 trillion. He must also help the government to find ways of whittling down the high unemployment and inflation rates.

As a former MPC member of the CBN, Salami may have to collaborate more with the monetary authorities to address the foreign exchange problem, which is a major ingredient to inflationary pressures. As late in the day as it may seem, Salami’s appointment perhaps signals the aspiration of President Buhari to reset the economy and correct some glaring distortions that have undermined investors’ confidence.

TO OUR READERS Letters in response to specific publications in THISDAY should be brief (150-200 words) and straight to the point. Interested readers may send such letters along with their contact details to opinion@thisdaylive.com. We also welcome comments and opinions on topical local, national and international issues provided they are well-written and should also not be longer than (9501000 words). They should be sent to opinion@thisdaylive.com along with the email address and phone numbers of the writer.

SOOT, STEAL AND SOOTHE

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t finally took a cloud of black soot rising over Rivers State for an alarmed Mr. Nyesom Wike the State Governor to summon the political will to confront those who mean death for nature and innocent children in the state. The legality of publishing their names and pronouncing them guilty before asking them to turn in themselves to the police to begin the process of their possible prosecution is debatable. But there is no doubt that the illegal oil business poses a real threat not just to Rivers State but Nigeria as a whole.

Some 97% of Nigeria`s exports come from its oil resources. Even in a wellrun country, this overdependence on a single resource no matter how bountiful would have posed anxious puzzles. With Nigeria firmly in the vice-grip of dysfunction, it is simply a nightmare.

Rivers State sits in the heart of the Niger Delta, the oil-rich region of Nigeria, that has known oily depredation. Port Harcourt the Rivers State capital is called the Garden City and is home to many multinational oil companies as well as the headquarters of the Niger Delta Development Commission, the behemoth but bumbling government agency tasked with among other things formulating policies and guidelines for the development of the Niger-Delta area.

Rivers State is also home to many of Nigeria`s illegal oil refineries and now their activities are clouding the heart of the Niger Delta in deadly soot that has in the last five years cumulatively caused 23,000 people to come down with respiratory diseases. Of course, there have been deaths.

What is happening in Rivers State with the soot widely captures the Nigerian story of depredation by a few and death for others all linked to the country`s premium natural resource.

Just as petrodollars pouring in from the sale of Nigeria`s crude oil has kindled kleptocracy, a government by theft, in Nigeria, the staggeringly lucrative oil industry has encouraged many illegalities to take root and grow teeth.

So, there is the outright thievery of oil which is done through illegal oil bunkering through the agency of multiple illegal refineries. If it was just the illegal oil refineries, it would have been quite easy to shut them down. But the challenge is that many leprous fingers prop up the industry of illegalities.

So, oil flows through the state and the Niger Delta through illegal refineries to fuel the diseases and death consuming Nigerians in yet another harrowing example of Nigeria`s challenge with accountability.

Sordid allegations thicken the whispers that some government officials, security personnel and even expatriates, are all involved in the unbridled stealing guzzling up Nigeria`s oil. But who will hold them to account when it seems many fingers are dripping with oil?

Many Nigerians have only very little doubt that the country`s oil has been a little more than a cursed resource. The discovery of oil and its subsequent exploration and export saw petrodollars streaming into the country. The unexpected windfall which began in Oloibiri, Bayelsa State in 1956 was supposed to guarantee a high quality of life for every Nigerian. Instead, the reverse has largely been the case as money from oil has lulled the country to sleep, shrinking in the process its once thriving agricultural sector. But that was not all. The exploration of oil in the Niger Delta has also left the region permanently scarred with a lack of accountability undermining every effort to clean up the Niger Delta. And now the oil thieves far from soothing the country are casting it into a sea of soot. This must not be tolerated.

All those involved in the operation of illegal refineries must be immediately arrested, prosecuted and incarcerated. It does not matter how highly they perch on the podium of power in the country. Or shall black soot rising from the activities of career criminals and serial saboteurs now be allowed to blind the Giant of Africa?

Kene Obiezu, keneobiezu@gmail.com

ME TOO, PLEASE

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or once I almost understand what ex-Prince Harry is on about with his request for the UK to provide staff, mostly bodyguards. On the two occasions I have visited the UK I have quite enjoyed my time there although I have had to do most of the work myself. I would like a group of flunkies on my next visit please, a few bodyguards so I look important, a driver and car, some tour guides, a good chef, and a fitness trainer to counterbalance the chef’s efforts and maybe a butler and of course all of this will be paid for from the generous UK purse. Maybe I could also have short term use of Frogmore Cottage as it looks quite nice in the papers.

There are a few places in the world I would not be willing to travel because of wars and violence and at the moment nearly all of the world because of COVID. Maybe I should add a doctor and a few nurses to my list as well.

I’m not a royal unless you consider the defunct Fitzgerald Irish aristocracies but nor is Harry now.

I would also like diplomatic immunity for when I return to Australia so there are no inconveniences although I am sensibly triple vaccinated already.

Remember Harry, you chose to give up the royal life, so be honest and live the common life now.

Dennis Fitzgerald, Melbourne, Australia

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T H I S D AY ˾ WEDNESDAY JANUARY 19, 2022

MIDWEEKPOLITICS

Group Politics Editor NSEOBONG OKON-EKONG Email nseobong.okonekong@thisdaylive.com 08114495324 SMS ONLY

Ngige, Uba Battle for the Soul of Anambra APC David-Chyddy Eleke examines factors that promoted the current leadership tussle in Anambra State chapter of the All Progressives Congress

Ngige

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n December last year, in Abuja, stakeholders of the All Progressives Congress (APC) in Anambra State staged a drama. It was the enlarged stakeholders meeting of the party in the state, but rather than one, different factions of the party convened separate meetings on the same day and time, but under different leadership.

While the faction loyal to Minister of Labour and Employment, Dr Chris Ngige met at his (Ngige’s) Abuja residence, the other faction loyal to the candidate of the party in the November 6, 2021AnambraStategovernorship election, Senator Andy Uba held theirs in a separate location in the same Abuja. Both factions which were meeting simultaneously, with many top members of the party in both meetings reviewed the governorship elections and factors that caused their loss.

In the meeting presided over by Ngige, a top member of the party, Senator Joy Emordi boldly told members that she suspects that the arrogance of the candidate of the party, and his posture, which tended to suggest that the result of the election had already been compiled in his favour was one of the factors that annoyed prospective supporters.

But in the meeting presided over by Uba, members blamed Ngige and some of his followers for the failure of the party to win the Anambra governorship election. They accused Ngige of working against the party. The allegation led to the purported removal of the minister as the leader of the party in the state, and his replacement with Senator Andy Uba. That singular action polarized the party in the state as members loyal to Ngige still see him as the leader of the party, while others, including the state executive of the party have queued behind Uba. The first sign that the party is no longer one in Anambra State was during the yuletide, when the Uba-led faction convened a stakeholders meeting in Awka. Uba and some members of the Anambra APC had touched down in a private jet at the Anambra International Cargo and Passenger Airport as they arrived for the stakeholders meeting of the party. Ngige also arrived the airport in a presidential jet about two hours later, but Ngige’s mission in Anambra was different. He shunned the Anambra APC meeting, and headed straight to the palace of the traditional ruler of Awka kingdom, Igwe Gibson Nwosu, where he was bestowed with the chieftaincy title of Onyilingugba of Awka kingdom.

At the stakeholders meeting, the party talked about how it could strengthen its base, ahead of the 2023 general election, to be able to make solid impact. Addressing the stakeholders, Chief Basil Ejidike, the caretaker chairman of the party in the state said, “This is a special gathering because it’s a gathering to give our party a new direction.

Any party that fails to win election is not political party. APC is a political party and not a club. We are going to contest every available position in 2023. And without discipline, we will not win anything. Those party members who are still pursuing court cases against APC are trying to frustrate our party. Don’t be disillusioned, we will not allow them to derail us. I’m going to deal with anybody who tries to dislodge

Uba the activities of APC in Anambra State, as directed by the National leadership,” Ejidike said.

Senator Andy Uba, in his address said APC had come to stay in Anambra. He said: “We need to stay together as our congress is coming. APC must be strong, otherwise in 2023 we’re not going to win anything. Let’s stop the infighting and forget selfishness.

I’m ready to apologize to those who believe I wronged them for us to move forward and reclaim Anambra.”

AnAPC chieftain who spoke to THISDAY said the party had taken time in a private session that was not covered by journalists to marshal out ways of ensuring that Ngige was caged, just as they blamed him for being the reason the party lost governorship elections. The source said: “Uba (Andy) is out to teach Ngige a lesson. From the way things are going, he may even be sanctioned, because Andy is using all the contacts he can muster, to ensure that Ngige does not continue as leader of the party.”

Meanwhile, Ngige has revealed that he was offered money to accept the candidature of Uba at the just concluded Anambra governorship election. Ngige who spoke to his supporters said he was aware that no primary election took place to nominate Uba as the flag bearer of the party in the state, but some people were offering him money to accept that the election went well.

Ngige who was addressing members of the party on new year day in his community, Alor said he rejected the money because it was against his conscience.

“Thirteen persons went for the election (primary) and I told them I do not have anointed aspirant. I told them it is God who makes a governor, it is also God who makes a president. I told them to go to the field and convince everyone to vote for them. I told them what was going to happen was direct primaries, either by secret ballot or option A4. These aspirants listened to me and used their hard earned money to run for the election.

“None of them is a thief or stole money, so

Moghalu they used their hard earned money and we did a primary election and we said everyone would go to their ward, that voting will take place from 8am to 4pm. I even came from Abuja to participate in the process.

Somebody of my status could not vote. I didn’t see any electoral materials here in Alor Ward One. I am from this place, there was no electoral officials or materials except INEC officials. They were the only people who came, our party officials never came.

By 5pm, I called Governor Dapo Abiodun and told him nothing happened. I told him to postpone the election from Saturday to Monday he said okay, but they ended up announcing result.

“At the end they said I should come and take money and say the election held. I, Chris Ngige should come and take money and say an election that I never participated in has held. I told them I have all the money I needed, and that I have contested for all the positions I needed to contest for. It is only one position that I have not contested for. We are the founding fathers of this party, these were the same people who stood against us in the early days of APC and called us Boko Haram party.

“Today, they are saying Ngige does not want people to come in and that I am now putting people who are my brothers in position. Do not listen to them, they are lying. There is nothing like leader in APC constitution. If you want to answer leader, you answer, but there is no such thing in the constitution of the APC. 2023 is the reason all these wayo people are here moving about, they have gone to collect money from people that they will work for them, but we will not allow them. Now, they are going about saying they have written the names of the people who will become the ward, local government and state executive, but do not listen to them.

It was the same way they wrote election results for Anambra election and were going about, but when they brought it, it was dismissed. It is same way they will dismiss the list they are bandying about

The first sign that the party is no longer one in Anambra State was during the yuletide, when the Uba-led faction convened a stakeholders meeting in Awka. Uba and some members of the Anambra APC had touched down in a private jet at the Anambra International Cargo and Passenger Airport as they arrived for the stakeholders meeting of the party. Ngige also arrived the airport in a presidential jet about two hours later, but Ngige’s mission in Anambra was different. He shunned the Anambra APC meeting, and headed straight to the palace of the traditional ruler of Awka kingdom, Igwe Gibson Nwosu, where he was bestowed with the chieftaincy title of Onyilingugba of Awka kingdom

today. We will hold a very credible congress in Anambra State.”

Already, there has been reaction about attempts by the Uba led faction to hold wards and local government congresses. Mr Okelo Madukaife, the publicity secretary of the party in the faction led by Ngige said the news of ward congresses scheduled by the faction loyal to Uba was fraudulent. Okelo in a press release said: “This is to put our membership on notice that some mischief makers are on the prowl, confusing those who willingly submit to their misinformation.

“For the avoidance of doubt, no ward congresses of APC has been scheduled by our party.

These dates are the product of 419 from persons working to destabilize our dynamic chapter, with the support of persons outside Anambra State for partisan interests connected to 2023 presidential elections.”

He said those succumbing to the notice are people who have been defrauded, and that the National Secretariat of the party has not fixed any dates for congresses, and would not do so without necessary consultations. “Please be further reassured that only authentic congress dates will be announced by this office and shall be a reliable guide, as provided by the National Secretariat. Any directives outside the mentioned officers is ultravires, of no effect and should be ignored. Party members will be well-advised to be wary of constitutionally sacked persons from high offices, intent on going down with everyone and their backers who are watering the fruit of discontent in our great party,” Madukaife said.

Already, big wigs in the party have started pitching tent with factions of the party, which they see to be favourable to them. While state state executive of the party are with Uba, most of the disenfranchised aspirants in the June 26 governorship primary of the party have elected to join forces with Ngige. One of them, Dr George Moghalu has affirmed the Minister of Labour and Employment, Dr Chris Ngige as leader of the party in the state. Moghalu, who is also the Managing Director of National Inland Waterways Authority (NIWA) knocked Senator Andy Uba over his plot to take over the party, describing him as a tenant in APC. Speaking to journalists in Nnewi on Monday about the recent judgment, which stripped Uba of the candidacy of the APC, Moghalu said Uba had already been sacked by a court judgment as the candidate of the APC in the last election. He said: “As you are aware, my party which we laboured to put in place did not hold primary election to choose a candidate for the last governorship election.

Being a law abiding citizen I sought judicial redress and the judgment agreed with me that there was no primary. I’m here now to thank the party, my supporters and those who believe in democracy and to thank the president and critical stakeholders who put in words of encouragement. They knew I was doing this (litigation), not for myself but to create enabling environment for democracy to thrive, and for posterity sake.

NOTE: Interested readers should continue in the online edition on www.thisdaylive.com

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POLITICS

The Mystery Between Shonekan and Goodluck Jonathan

GOVERNANCE IN PHOTOS

Nseobong Okon-Ekong finds the inconspicuous element connecting the late Head of the Interim National Government, Chief Ernest Shonekan and former President Goodluck Jonathan

Minister, Niger Delta Affairs Ministry, Senator Godswill Akpabio (left) with Minister of Labour and Employment, Dr. Chris Ngige at the 2022 Armed Forces Remembrance Day, at Eagle Square Abuja

Jonathan

Shonekan

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civilians and today we are still cursing our Constitution. He was a serious minded person. He would have made sure that all the Is are properly dotted and the Ts properly crossed.”

Continuing the former President said, “When he took over the government as Interim Government Head of State, the first thing he did was to release all political prisoners and created the environment for Nigerians to begin to participate in political and economic activities.”

Harping on Shonekan’s contributions to the development of Nigeria, Jonathan recalled that Shonekan was brain behind VISION 2010. “He had a vision, but we lost him early in government and now finally, we lost him. He contributed to the development of this country within the few months he was in government.”

“He was a man with wisdom. A man with a good background in the corporate world; with a good background in economic issues and as a private citizen, he founded the Nigeria Economic Summit Group (NESG) that is still there till today. He was such a person who had that kind of vision for this country,” commented Jonathan.

While praying to God to give his family the fortitude to bear the loss, Jonathan recalled that he learnt so much from the late Head of State. He was a man with great wisdom.

He also expressed optimism that Shonekan would be honoured by the Federal Government, Ogun, his own state government and the government of Lagos State, where he lived. “In one way or the other, they will do something to immortalise his name. “

etween the late Chief Ernest Shonekan, Chairman of the Interim National Government (ING) and former President Goodluck Jonathan, there existed a mysterious link that could only be understood by the decerning.

Like Shonekan, Jonathan’s emergence as a national leader was undeniably fortuitous.

Shonekan became Head of State following the annulment of the June 12, 1993 presidential election which was presumably won by Chief Moshood Abiola, a wealthy businessman from Abeokuta in the South-west of Nigeria.

The overwhelming need to placate the Yorubas for the apparent injustice against Abiola brought Shonekan, an equally internationally respected boardroom guru and an Abeokuta man to national reckoning as Head of the ING. In the case of Jonathan, he was twice lucky. First, he replaced his erstwhile principal, Chief Diepriye Alamieyeseigha as Governor of Bayelsa State.

Again, when the late President Umaru Musa Yar ’Adua passed, Jonathan succeeded him.

Therefore, it stands to reason that Jonathan would seek a sober period to commiserate with the Shonekans on the passage of their patriarch at their Luggard Avenue home in Iloyi-Lagos.

The Jonathan entourage was devoid of fanfare. It crept into the premises almost unnoticed and departed in the unassuming way it came, after about half an hour. Journalists who laid ambush for Jonathan were outwitted as he entered the Shonekan home without the expected ceremonialflourish. He was on his way out when the newshound accosted him.

Ever the soft-spoken gentleman, the former Nigerian President, told journalists that he regrets that the late Head of the Interim National Government, Chief Ernest Shonekan’s administration was shortlived.

“Probably we would have been moving in a different direction today,” if the Shonekan government was allowed to run its course, noted Jonathan.

Speaking to after a condolence visit to Shonekan’s home in Ikoyi, Lagos on Monday, Jonathan who praised the exemplary lifestyle of the late Chairman of the ING said, “my only regret is that he left government within a short time.

I wish the Interim National Government had been left to properly midwife the political process All the controversies we are having today with the 1999 Constitution, we would not have it. He left government because of military intervention. The government was hurriedly given to

The Jonathan entourage was devoid of fanfare. It crept into the premises almost unnoticed and departed in the unassuming way it came, after about half an hour. Journalists who laid ambush for Jonathan were outwitted as he entered the Shonekan home without the expected ceremonialflourish

Governor Okezie Ikpeazu (left) and his wife, Dr. Nkechi (right) rejoice with their first daughter, Betsy who was inducted as a Medical Doctor recently by the Medical and Dental Council of Nigeria

President Muhammadu Buhari (left) with Governor Dapo Abiodun of Ogun State during the recent one-day presidential working visit to Ogun

Governor Osun State, Mr. Gboyega Oyetola, with wreath to Commemorate the year 2022 Armed Forces Remembrance Day Celebration, at the Military Cenotaph, Gbogan Road, Osogbo

T H I S D AY ˾ WEDNESDAY JANUARY 19, 2022

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FEATURES

Group Features Editor: Chiemelie Ezeobi Email chiemelie.ezeobi@thisdaylive.com, 07010510430

Empowering Burn Survivors Sunday Ehigiator writes on how a newly launched foundation, ‘Sebastine Foundation for Burn Victims’, is helping burn survivors to live a normal life with various empowerment plans targeted at turning their ‘burns to gold’

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ccording to the World Health Organisation (WHO), burns are a global public health problem, accounting for an estimated 180,000 deaths

annually.

The majority of these occur in low- and middle-income countries and almost two-thirds occur in the WHO African and South-East Asia regions.

In many high-income countries, burn death rates have been decreasing, and the rate of child deaths from burns is currently over seven times higher in low and middle-income countries than in high-income countries.

Hence, WHO recognises non-fatal burns as the leading cause of morbidity, including prolonged hospitalisation, disfigurement, and disability, often with resulting stigma and rejection.

Burns are also among the leading causes of Disability-Adjusted Life-Years (DALYs) lost in low and middle-income countries.

According to WHO, in 2004, nearly 11 million people worldwide were burned severely enough to require medical attention.

The Nigeria Situation Burn injuries continue to be a major source of mortality and morbidity in low- and middle-income countries of the world, of which Nigeria is a part.

According to information from the National Center for Biotechnology Information (NCBI), “the available statistical data on burn epidemiology are predominantly hospital-based.

“Burn injuries account for 4.8 per cent of trauma deaths in Nigeria and 6.7 per cent of surgically related deaths.

“In children, burns and scalds are the fourth commonest cause of trauma after road traffic accidents, accidental falls, and bites.

“In South-western Nigeria, flame burn accounted for 65-71 per cent of burn injuries in Ile-Ife. Flame burn disasters in the recent past have contributed to an increase in the incidence of flame burns.

Many such reports were from southern Nigeria.

“Disasters have also occurred owing to deliberate damage, the pilfering of gasoline from underground pipelines, and the contamination of kerosene, a common household fuel, by gasoline during storage or transportation.

“Accidents usually occurred while filling up lighted kerosene lamps and cooking stoves, resulting in explosions.”

Burn Degrees According to Nations Wide Children Health Library, burns are classified as first, second, third, or fourth degree, depending on how deeply and severely they penetrate the skin's surface.

“First-degree (superficial) burns affect only the outer layer of skin, the epidermis.

The burn site is red, painful, dry, and with no blisters. Mild sunburn is an example. Long-term tissue damage is rare and often consists of an increase or decrease in skin colour.

“Second-degree (partial thickness) burns involve the epidermis and part of the lower layer of skin, the dermis.

The burn site looks red, blistered, and may be swollen and painful.

“Third-degree (full thickness) burns destroy the epidermis and dermis. They may go into the innermost layer of skin, the subcutaneous tissue. The burn site may look white or blackened and charred.

“While the fourth-degree burns go through both layers of the skin and underlying tissue as well as deeper tissue, possibly involving muscle and bone.

There is no feeling in the area since the

Burn Survivor, Oyebola Oyeduntan being presented a N500,000 educational scholarship by representatives of Sebastine Foundation for Burn Victims, at the launch of the foundation recently in Lagos State

by making them see themselves as a raw gold that has gone through the fire and is now refined in its best form, instead of a victim of burn.

Launched on December 22, 2021, by a burn survivor himself, Sebastine Enechi, the foundation is said to be primarily focused on improving the quality of life of burn victims across Nigeria and other regions of Africa.

At the official launch in Lagos, N500,000 education scholarships were each presented to two survivors, Oyebola Oyeduntan, and Michael Odinnachukwu, while another N500,000 was presented to the Burns and Plastic Department of the National Orthopaedic Hospital Igbobi.

Speaking to THISDAY, Enechi said, the foundation was aimed at helping burn survivors like him fit back into society.

“We want to help them look beyond their looks and scars and believe that they can do more regardless of the conditions they find themselves in.

“We plan to support them physically, morally, and financially, provide medical diagnosis treatment, post-treatment support,

and scholarship. We want to encourage them to keep seeing the brighter part of life.”

He added that the foundation would put in place yearly projects aimed at reaching out to survivors of fire accidents to help them stabilise and fit again into society.

“Part of the ongoing plan is to collaborate with government organisations, hospitals like burn centres, the Red Cross, Fire Service Commission, private organisations, and the general public.

“With collaborators on board, the foundation will be able to work out programs that will help uplift the lives of burn survivors while reaching out to the victims in burn centres across Nigeria.”

On funding, he disclosed that the foundation was currently funded by him, however, also open to sponsorship and support from family, friends, and any organisation or individual who wish to be a part of the course.

“Alerzo, a technology, and service platform, has so far provided support for the foundation. Likewise, special appreciation goes to WapTv and De Kathedra for also contributing their fair quota towards the success of the launch event.”

"We want to help them look beyond their looks and scars and believe that they can do more regardless of the conditions they find themselves in. We plan to support them physically, morally, and financially, provide medical diagnosis treatment, post-treatment support, and scholarship. We want to encourage them to keep seeing the brighter part of life"

Preventions Speaking on ways to prevent burns, Enechi who became a burn survivor after falling victim to a fire incident that occurred at a restaurant he had innocently gone to eat before a leaking gas exploded at the restaurant, advised the government to improve awareness on how to avoid fire disasters.

He also advised the government to develop and enforce effective policy aimed at saving lives and properties of people in the country, providing burn prevention programs, strengthening burn care, and capacities to carry out all of the above.

nerve endings are destroyed.”

Realities of Burn Survivors Major burns may have a long-lasting impact on the quality of people’s lives, with persisting problems related to stigmatisation, discrimination, scarring, contractures, weakness, thermoregulation, itching, pain, sleep, body image, and psychosocial wellbeing.

Consistently, burn survivors have reported limitations in health-related quality of life, as well as the ability to be psychologically and physically independent, compared to the general population norms.

A Foundation's Intervention These realities informed the decision of Sebastine Foundation for Burn Victims to provide a platform for economical and psychological empowerment for the survival of burn victimd,

23

T H I S D AY ˾ WEDNESDAY JANUARY 19, 2022

PERSPECTIVE

Olubadan Throne: The World Misunderstood Ajimobi Tunji Light Ariyomo

M

ost people, including this writer, misunderstood the promotion of Ibadan high chiefs carried out by the administration of the immediate past Governor of Oyo State, the late Senator Abiola Ajimobi.

However, the recent passage of His Imperial Majesty, the Olubadan of Ibadan, Oba Saliu Adetunji, brought the saga of the chieftaincy upgrade back to the front burner of public consciousness. The Ibadan traditional chieftaincy has always been a fascinating institution.

In terms of thematic significance as a representative monarchy, the Ibadan kingship institution is more sophisticated than most monarchies in Yoruba land or neighbouring Benin or even the British monarchy because in the latter cases the underlying principle of ascension is built upon a class system of inherited or hereditary caste superiority.

The Ibadan system is so unique that succession is not hereditary but based on an egalitarian peerage system that is in turn built upon a sophisticated yet interconnected coterie of agboile – a network of relations embedded in nuclear and extended family units.

Put succinctly, there is no class system in Ibadan as each household is royalty de jure. Indeed, every chief from a Mogaji upward is a potential Olubadan in sequential order of seniority and by extension, every male child in Ibadan is a potential king.

In 2016 when the administration of Ajimobi activated the process to review this arrangement, a majority of the people thought he had tampered with this unique sequential republican succession order.

What many did not take into consideration however was that the non-elevation of the members of the Olubadan in Council was an inhibitive factor in the promotion to the status of Obas of each deserving Baale or viceroys of adjoining communities that were hitherto traditionally being supervised by each of the High Chiefs that constituted members of the Olubadan in Council.

For example, it would be a gratuitous affront on the Yoruba tradition of Obaship for an Otun Olubadan (as he was pre-Ajumobi) to superintend a Council that has an Oba of Ijaye as the traditional ruler.

As a strategic workaround, the late Ajimobi elevated the principal chiefs of Ibadan to be able to bear the revered title of ‘Oba’ whilst in principle retaining their functional status as principal Superior Chiefs of the Olubadan.

This new arrangement served as a clever workaround as it enabled the Ajimobi’s administration to promote the Baales of the adjoining communities whilst still keeping strictly within the cherished Yoruba Obaship tradition as only an Oba can preside at a meeting of fellow Obas.

For instance, by virtue of the Ibadan Chieftaincy Declaration Review of 2017, the hitherto Otun Olubadan, High Chief Lekan Balogun, became Oba Lekan Balogun, the Otun Olubadan of Ibadanland. The import of the latter part of his title ‘the Otun Olubadan of Ibadanland’ was however lost on many who assumed, wrongly, that he was no longer the Otun Olubadan upon his acceptance of his elevation to the rank of an Oba. This ignorance fuelled the unnecessary feisty debate over who would become Olubadan following the transition of Oba Saliu Olatunji in January 2022. Some even claimed that an Oba cannot be elevated to take up another Obaship elsewhere. The history of the Yorubas disagrees with this. Oranmiyan, the son of Okanbi, the sole child of Oduduwa, was already Oba of Ibini (Benin) before Ifa mandated him to go back to the source to assume the then more organized throne of Oduduwa as the Oba of Ife. The Ogbolu was already an Oba of Ita-Ogbolu (in present-day Ondo

Ariyomo State) before Ifa directed that he be invited to become the Oba of Akure.

According to the gazette published by the Oyo State Government in 2017, both the arrangement pre and post Ajimobi’s reform ensured that the sequential succession order in Ibadan remains sacrosanct and immutable. Whoever is the Otun Olubadan is next in line. It is that simple.

Except that for each bonafide Ibadan male child, the Ajimobi Reform has now further expanded the probability of becoming an Oba by additional 22 numerical possibilities and may have ended the subliminal ‘agbotikuyo’ hankering – of furtively wishing death upon senior colleagues - by High Chiefs of the Olubadan.

It is also important to note that all the 22 new Ajimobi Obas are themselves status to be attained through the existing ‘turn-by-turn’ upward rise on the Olubadan ascension ladder. All the positions are potentially open to every male child in Ibadan.

As a result of this novel solution, Baales of those communities that had been agitating for recognition as Obas for decades became Obas with each being formally recognized as ‘His Royal Highness’ under the following titles: Onijaye of Ijaye; Oniroko of Iroko; Onikereku of Ikereku; Elerunmu of Erunmu; Ololodo of Olodo; Elegbeda of Egbeda; Onido of Ido; Alakufo of Akufo; Oloke of Okelade-Okin; Alawotan of Awotan; Olomi of Omi-Adio; Onilalupon of Lalupon; Olugbon of Ile Igbon; Olofa of Ofa-Igbo; Ologburo of Ogburo; Onilagun of Lagun; Alaba of Abanla; Onilatunde

of Latunde; Alayunre of Idi-Ayunre; Alakanran of Akanran; Alajia of Ajia and the Elejioku of Ejioku. The Ajimobi’s bold novelty settled that promotion lacuna once and for all.

Tradition is good. Tradition promotes stability. Tradition enhances predictability. Tradition offers protection against arbitrariness.

Yet, one of the biggest inhibitors of progress is tradition. Millions have died as victims of preventable diseases because of wilful fidelity to tradition.

Kingdoms have been vanquished as a result of tradition. To prevent a British party from interfering with Benin traditional rituals in 1897, some chiefs under the reign of Oba Ovonramwen Nogbaisi attacked the British expedition killing about 200 African porters.

Britain responded by sacking Benin. Over the millennial, nations or civilizations that have been at the top have also been those that struck a good balance between tradition and change – those who know when to reinvent and re-adapt their traditions in order to be competitive and retain their relevance.

When you see Chinese diplomats and their national leaders in European suits instead of hanfu or robes, they are not foolish; they merely understand the concept of cultural dynamism and change.

Same China is jealously preserving other enduring traditions that you may consider irrelevant.

Also, up until September 2011, female members of the British royal family did not have the same right as males to ascend to the British throne. Male heirs had always taken precedence over their sisters in succession.

"Tradition is good. Tradition promotes stability.

Tradition enhances predictability. Tradition offers protection against arbitrariness. Yet, one of the biggest inhibitors of progress is tradition.

Millions have died as victims of preventable diseases because of wilful fidelity to tradition"

The only way for a woman to ascend to the throne, as Queen Elizabeth did in 1952, had been if the previous monarch had no sons. That gender imbalance however changed in October 2012. Britain ended a tradition that promoted male gender superiority. Britain changed the rule.

Japan’s tradition forbids the reign of a monarch during the lifetime of another monarch. That tradition changed in 2019.

Japan’s then 85-year-old Emperor Akihito, citing concerns about his age and declining health, ‘retired’ and handed over to his son, Crown Prince Naruhito. Pope Benedict XVI resigned in 2013. In his lifetime, another conclave was held and another was elected the Pope. This writer is one of those who have openly advocated that the amiable Queen of England should abdicate to her son. Ditto any king that is advanced in age.

There is no better example of the epic significance of the change of tradition than in Ibadan itself. In 1861, the succession crisis to the throne of the Alaafin of Oyo was a major trigger of the war between Ijaye and Ibadan. That crisis centred on the protection of tradition.

Kunrunmi, the Aare Onakakanfo of Yoruba land was a staunch advocate of the then tradition which forbade the Alaafin Atobatele Atiba’s favourite son, Adelu, from ascending the throne after the demise of his father.

Ibadan however objected to the preservation of that tradition and frontally pitched camp with Adelu and the latter was crowned as Alaafin of Oyo in 1859.

Full hostility broke out two years later with heavy casualties on both sides and the ultimate death of the Aare himself.

That conquest solidified the position of Ibadan as a regional power and became instrumental to its prestige in the entire Yoruba nation.

The biggest argument against the monarchy in the United Kingdom is that appointing a head of state using the hereditary principle is undemocratic, unfair and elitist. The Ibadan kingship completely avoided this potential pitfall by ensuring that in principle, every male child in Ibadan is a potential sovereign.

The British monarchy is exclusive.

Ditt most other monarchies. The Ibadan monarchy is however inclusive. Obaship in Ibadan thus has remained an excellent example of what modern kingship should be. It is a monarchy that defers to democratic ethos and is properly guided by the highest of republican ideals.

The system of state-governance that the Yorubas achieved in Ibadan with the conceptual framework of ‘zero class’ and ‘all citizen royal’, is a superior political and philosophical agency comparable to the Greek achievement with the founding of democracy in the city-state of Athens.

The late Ajimobi did not alter this.

I am strongly suspecting that Ajimobi's reform may eventually be validated by the higher courts. That is the right thing to happen barring a withdrawal of support by the incumbent administration in the state. This is because it was a decision of the Oyo State Executive Council which is legally the foremost authority on chieftaincy matters in Oyo State. Some have questioned Senator Lekan Balogun, the Otun Olubadan on moral ground.

Such individuals are mistaken.

Given the basis that necessitated the reform, the Otun Olubadan has done the right thing up till now. Oba Balogun, the Otun Olubadan (the next Olubadan) can only fail the moral test if he decides to flip sides, withdraw support for his previous colleagues or refuse to recognize them as minor Obas upon his being crowned the Olubadan. This is when the moral entanglement can set in, not now.

In conclusion, rather than being vilified as someone who assaulted tradition, it is clear that Ajimobi indeed protected the monarchy, entrenched its relevance and further expanded its space for greater inclusion and participation.

-Engr. Tunji Ariyomo, FNSE is the Aare Baamero Odua.

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WEDNESDAY JANUARY 19, 2022 •T H I S D AY

T H I S D AY ˾ WEDNESDAY, JANUARY 19, 2022

25

BUSINESSWORLD R A T E S MONEY MARKET

A S

A T

REPO

Group Business Editor Eromosele Abiodun Email oriarehu.eromosele@thisdaylive.com

08056356325

J A N U A R Y

S & P INDEX

1 8 , 2 0 2 2

S & P INDEX

EXCHANGE RATE

OBB

14.00%

CALL

4%

INDEX LEVEL

565.29%

1/4 TO DATE

6.06%

N412.08/ 1 US DOLLAR*

OVERNIGHT

14.50%

1-MONTH

6%

1-DAY

–0.11%

YEAR TO DATE

– 15.66%

*AS AT LAST FRIDAY

3-MONTH

10%

MONTH-TO-DATE

0.41%

12 Banks Rake in N1.86trn from Account Maintenance, E-banking Fees, Others in Three Years

Kayode Kotede A total of 12 banks generated N1.86trillion as fees and commission income from current and saving accounts of customers between 2018 and 2020, data gathered by THIDAY has revealed.

Analysis of the banks’ numbers revealed that these 12 of them generated N684.03 billion from fees and commission income in 2020 as against N630.4billion and N550.33billion between 2019 and 2018.

Banks generate the fees through account maintenance fee, electronic transfers, commission on turnover,

credit related fees, among others.

Further analysis showed that United Bank for Africa Plc, followed

by Zenith bank Plc led the others in fees and commission generated in the last three years, while Unity Bank Plc recorded the lowest fees and commission in the period under review.

UBA Plc in the last three years generated N331.5billion from fees and commission income, while Zenith Bank Plcc accounted for N310.04billion fees and commission between 2018 and 2020.

Others are; Access Bank Plc N270.64billion, Stanbic IBTC Holdings

Plc N221.4billion, Guaranty Trust Holdings Plc N167.97billion, Fidelity Bank Plc N65.5billion, Sterling bank Plc N65.53billion, FCMB Group Plc N58.18billion, Union Bank Plc N42.6billion, Wema Bank Plc N22.93billion and Unity Bank Plc N12.5billion.

Meanwhile, analysts believe banks’ may not be able to continue to rake in much profits from such fees following the licenses granted by the Central Bank of Nigeria (CBN) to MTN Nigeria and Airtel Africa to operate a Payment Service Bank (PSP).

The development, they stated,

has renewed mobile money transactions competition between financial instructions operating in Nigeria.

Commenting, analyst at Vetiva Research expressed that the new PSB licences issued by CBN to MTN Nigeria and Airtel posed a threat to some lines of the banks’ businesses in 2022.

In its 2022 Outlook titled “Running scared,” Vetiva Research projected that the headwinds observed in the banking sector in 2021 will start to ease.

The analyst in a statement stated that possibility of the new PSBs taking away a significant share

of transaction fees and potentially lower revaluation gains.

The dispute between banks and telecommunication operators over N42 billion debts from Unstructured Supplementary Service Data (USSD) transactions had forced the CBN and Nigerian Communications Commission (NCC) to intervene with new charges of N6.98 on any successfully USSD transaction.

Banks in April 2021 disconnected MTN subscribers from their banking channels, including the USSD and banking apps, as the mobile network operator switched its customers to alternative electronic payment

platforms.

The telecommunication company reduced the banks’ commission from an average of 3.5 per cent to 2.5 per cent per transaction, prompting the actions of the banks to disconnect MTN subscribers from its service.

Senior Manager for External Relations, MTN, Mr. Funso Aina had stated that their customers could recharge airtime and carry out other online transactions through payment solutions platforms.

“It will interest you to note that for the benefit of our customers who Continued on page 28

Group Cautions FG against Online Auction of Forfeited Assets James Emejo in Abuja The Nigeria Association of Auctioneers (NAA) has cautioned the federal government against plans to engage in online auctioning of forfeited or recovered assets.

The group said adopting the online platform to dispose what it described as “unserviceable and perishable” items was tantamount

to delay and loss of revenue, which could neither benefit sellers nor potential buyers.

The association’s National President, Alhaji Aliyu Mohammed Kiliya, said any resort to the internet to dispose recovered properties would amount to “economic sabotage by the custodians of those items.”

He explained that online auction sales are particularly ideal for special

items including “brand new vehicles, plants and machineries and not unserviceable or perishable items.”

Kiliya, further argued that the recovered assets which are mostly vehicles and other items are now beyond economic repairs as a result of long legal battle.

While stressing that the NAA has experience auctioneers who are capable of any type of auctions sales,

he insisted that the standard and practice for disposing unserviceable items is through open competitive bidding process, rather than internet auction.

This, he said, can guarantee maximum revenue and protect image of the government and interest of the public.

According to the NAA president, “Online auction sales amount to

delay and economic sabotage by the custodians of those items.”

He said most potential buyers preferred open competitive auction sales of unserviceable and perishable items adding tht the online auction sales could result into hard sales due to lack of physical access to the items which can lead total decay of the items involved.

He said, “I am the National

President of the Nigeria Association of Auctioneers and my position demands transparency and accountability. In this regard posterity will judge me if I keep mute while things go wrong.

“I sincerely appreciate the government joint committee chaired by the Honorable Minister of Justice, Continued on page 26

M A R K E T D ATA A S AT T U E S D AY, J A N U A R Y 1 8 , 2 0 2 2 FGN BONDS DESCRIPTION 12.75 27-APR2023 14.20 14-MAR2024 13.53 23-MAR2025 12.50 22-JAN2026 16.2884 17MAR-2027

Price

Yield

BILLS Change (%)

MATURITY

OTC FX F U T U R E S

Discount Yield Change (%)

Contract

Current Rate ($/₦)

C Ps MATURITY

Discount Yield

Change (%)

7.39

7.43

-2.01

9.79

10.07 -0.21

16.97

18.02 -0.15

9.63

9.96

-0.15

.

.

.

2

NGUS FEB 23 2022 422.61

3

NGUS MAR 30 2022 424.04

4.05 0.00

4

NGUS APR 27 2022 425.46

MREP CP XXXVI 11-FEB-22 UNCP CP VI 2-MAY-22 NEVE CP I 24MAY-22 DANC CP II 25MAY-22

3.72 0.00

5

NGUS MAY 25 2022 426.89

.

106.31

7.44

0.07

NTB 10-Feb-22

4.00

4.01 0.00

109.84

9.05

-0.01

NTB 10-Mar-22

2.98

2.99 0.00

107.93

10.51 0.00

NTB 28-Apr-22

4.50

4.56 0.00

103.17

11.49 0.02

NTB 12-May-22 4.00

115.28

12.20 0.00

NTB 9-Jun-22

3.67

CONTRACT TENOR (MONTH) 1

NGUS JAN 26 2022 421.18

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WEDNESDAY, JANUARY 19, 2022 ˾ T H I S D AY

BUSINESSWORLD

NEWS

L-R: Registrar/CEO, Chartered Institute of Bankers of Nigeria (CIBN), Dr. Seye Awojobi; Panelist and Founder, Cybersafe Foundation, Mrs. Confidence Staveley; 1st Vice President, CIBN, Dr. Ken Opara; President, CIBN,Dr. Bayo Olugbemi; former President, CIBN, Otunba (Mrs.) ‘Debola Osibogun; and Managing Partner, B. Adedipe Associates, Dr. Biodun Adedipe, at the 8th National PHOTO: ETOP UKUTT Economic Outlook on Implications for Businesses in 2022 organised by CIBN Centre for Financial Studies and B.Adedipe and Associates Ltd in Lagos… yesterday

Hadiza Bala-Usman Debunks Reports of OAuGF Indictment Eromosele Abiodun The Managing Director of the Nigerian Ports Authority (NPA), Hadiza Bala-Usman reports in a section of the media stating that she was indicted in an audit report on the NPA purportedly released by the Auditor-General of the Federation (OAuGF).

In a statement she personally signed yesterday, she said media reports (Not THISDAY) alleging that the AuditorGeneral of the Federation has issued some queries regarding monies being owed the NPA, by terminal operators are false, unfounded and a figment of the imagination of illiterate interlopers being used by her traducers to tarnish her name According to her, “Ordinarily, the NPA should clear the air about these allegations, and for this reason, I have refused to make any comments since the news broke. However, it is becoming more apparent that tarnishing my image is the primary mission of promoters of the story. On Tuesday morning, for instance, several people sent me a social media post with the title: “NPA Audit indicts Hadiza Bala Usman for not remitting

Group Business Editor Eromosele Abiodun Comms/e-Business Editor Emma Okonji Aviation Editor Chinedu Eze Asst. Editor, Money Market Nume Ekeghe Senior Correspondent Raheem Akingbolu (Advertising) Correspondents James Emejo (Finance) Ebere Nwoji (Insurance) Chineme Okafo (Energy) Emmanuel Addeh (Energy) Reporters Nosa Alekhuogie (ICT) Peter Uzoho (Energy) Ugo Aliogo (Development)

N40b, $921.61m and £289.931.82 to federal government accounts.”

“I make bold to say that this report is untrue and a fallacy from the imagination of anyone spreading the falsehood. I also challenge anyone with proofs of this allegation to present them in public. The truth is that even if there are monies

unremitted into the federal government’s accounts, these monies will remain in the Treasury Single Account (TSA) where all revenues generated by the Authority domiciles. In addition, the Authority will have explanations for any audit queries that may arise, whenever they do.”

The report, she said, claimed that the imaginary allegations of abuse of office, corrupt enrichment and failure to account for billions of naira led to my purported sack.

She added, “I state without any equivocation that I have not received any information about my purported sack from

any quarters until this moment.

I have also not been indicted for any offence as alleged in these increasing lies. It is apparent that realising that no credible media outlet would publish unsubstantiated claims as in the case under discussion, promoters of this falsehood have adopted the social media option.

“I appeal to all Nigerians to discountenance the falsehood, which is meant to serve the ulterior motives of its promoters. On a final note, I should state that I am proud of my service to the nation regardless of repeated attempts by dark elements to paint me and my service in black.”

FCT-IRS Denies Rivalry with Lagos over IGR Generation Olawale Ajimotokan in Abuja The Acting Chairman of FCT-IRS, Haruna Abdullahi has stated that the Federal Capital Territory is not in any way contending to overtake Lagos as the leading state in the Internally Generated Funds (IGR).

Abdullahi made the clarification on Tuesday when he led a road show to promote the culture of tax-paying by both individuals and corporate organisations in

the FCT. The National Bureau of Statistics (NBS) in its report late last year ranked Lagos State for having the highest IGR in the country with N267.2 billion, which represented 31 percent of the total IGR in the first half of 2021. Lagos is closely followed by FCT with N69.1 billion.

But speaking to reporters on Tuesday, Abdullahi described the assumption that the FCT is in a rivalry with Lagos over IGR as a

“misconception”.

“I think I need to clear a misconception. We are not in competition with any state. I think Nigeria is Nigeria. We are collaborating with every state’s revenue generating agency. We are not competing with anyone. All revenue generating agencies are collaborating under the GTB platform, so we are not really in a competition. If we are number two, then that is good.

But we are not competing to be

anything on the IGR chart. We are competing to be efficient and to be the best,” he said.

He said the awareness creation embarked was one of the strategies the revenue service had adopted to hit the over N200 billion tax target and to change people’s negative attitudes towards tax-paying.

The FCT-IRS chairman also warned that the service may resort to extant laws to prosecute tax dodgers, noting it is an offence

for organisations and companies to fail in filing their tax returns as and when due.

He said the deadline for filing of Annual tax return for organisations, employers and MDAs is January 31, 2022 while that of individual end on March 31, 2022.

He said the campaign will not be limited to the city centre but will be taken to all FCT Area Councils to ensure that all residents are properly sensitised.

Rabiu: BUA Foods Listing on NGX Will Enhance Self-sufficiency in Food Production Kayode Tokede BUA Foods Plc yesterday expressed optimism about the country’s resolve to achieve self-sufficiency in food production with the listing of its food business on the Nigerian Exchange Limited (NGX).

At its first “Facts Behind the Listing” and closing gong ceremony of the company in Lagos yesterday, Chairman of the company, Abdul Samad Rabiu, who was represented

by Group Executive Director, Kabiru Rabiu reiterated that the nation’s food production capacity is still not enough to meet current demands.

However, he stated that with the listing of the firm’s food business on the NGX, there is hope for Nigeria in terms of building capacity for food sufficiency.

According to him, the company is

currently positioning its brand to take advantage of export opportunities through strategically located plants to generate foreign exchange for the company and economy.

“Today for us is very historic and we are excited to begin the year with the listing. The population of Nigeria is over 200million and our food production capacity is still not enough to meet current demands.

“As a listed company, BUA Group has benefitted first-hand from NGX’s efforts to chart a path for the sustainable development of the Nigerian economy.

“It has, therefore, been exciting for BUA Foods to go through a similar journey and we are confident that by leveraging the collaborative approach prevalent in the market, the entire Group of companies will be equipped to increasingly deliver

value to its shareholders.

“We certainly look forward to benefitting from the new opportunities that have opened up to as on the platform of The Exchange,” he said.

The company has experienced an upward trend in share price, market capitalisation along with trading activity, following the admission of BUA Foods’ shares on the main board of the exchange on Wednesday, 5 January 2022.

The listing of BUA Foods’ shares has added N720 billion to the market capitalisation of NGX, further boosting liquidity in the Nigerian capital market and providing opportunities for wealth creation.

The Chief Executive Officer of NGX, Mr. Temi Popoola, commended the BUA Foods for taking the bold step to join its subsidiary

company, BUA Cement, as a listed company.

He said the listing of BUA Foods Plc on the exchange reaffirms the confidence that leading Nigerian corporates have in NGX as the partner of choice for raising capital and enabling sustainable growth and development.

“I must commend the efforts made by the Management of BUA Foods towards this listing and the roles played by all the professional parties to this transaction including; Stanbic IBTC Capital Limited, Rand Merchant Bank Nigeria Limited, UCML Capital Limited, APT Securities Limited and CardinalStone Securities Limited.

Popoola said the milestone transaction is in line with the NGX strategic objectives to improve listings and enhance investors’ participation in the market.

In addition, he said NGX is strategically positioned to be the preferred listing and investment destination connecting Nigeria, Africa and the world.

He urged capital market players to pay closer attention to the plethora of opportunities available in the market to list securities and engage in other investments activities.

Speaking at the closing gong ceremony, the Doyen of the Nigerian stockbrokers’ community at the Exchange, Mr. Rasheed Yussuf commended the management of the BUA Foods for listing on the Exchange, calling on the management to utilize the platform provided by the NGX. “I want to congratulate BUA Foods for a successful listing on the NGX and we are here to serve you,” he said.

GROUP CAUTIONS FG AGAINST ONLINE AUCTION OF FORFEITED ASSETS for working tirelessly to ensure that due process are followed to avoid litigation and by extension for inviting all auctioneers that expressed their interest to submit their bids as stakeholders of the

business and also participate as observers, the committee have demonstrated high level of transparency.”

He also commended the Federal Ministry of Justice, the

Economic and Financial Crimes Commission (EFCC) and the federal government joint committee on disposal of recovered and forfeited assets and appeal for their co-operation.

He said, “We have made several calls against the activities of the Nigeria Custom Service, regarding seized perishable items and the attitude of negligence, they have neglected the standard process

of auction sales of perishable and unserviceable items which is causing loss of revenue and therefore urge the above mentioned agency to follow the right chanel to dispose seized perishable items.”

27

WEDNESDAY, JANUARY 19, 2022 ˾ T H I S D AY

BUSINESSWORLD

ECONOMY

Need to Preserve CBN-brokered Power Sector Agreement James Emejo writes that the hard-earned power sector pact, which was brokered by the Central Bank of Nigeria should be preserved at all cost in the interest of the parties and economy in general

T

here has been various interpretations to the resolve by the CBN and the federal government to escrow the bank accounts of 11 electricity distribution companies (discos) in recent times.

While most of the arguments against the move have been sentimental, it is important to xtray the factors that had led to the recent development.

Following the handover of the Power Holding Company of Nigeria (PHCN) successor companies to the private participants 2013, the Nigerian Electricity Supply Industry (NESI) was confronted with liquidity challenges arising from insufficient gas supply among other problems.

Amidst the dire situation which could have far-reaching implications for the economy, the CBN, under the leadership of Mr. Godwin Emefiele, had indicated its desire to invest in the electricity sector and provide a facility known as the CBN-Nigerian Electricity Market Stabilisation Facility (CBN-NEMSF).

The facility aimed to settle outstanding payment obligations due to market participants, service providers, and gas suppliers which accrued during the Interim Rules Period (IRP Debts) as well as the legacy gas debts of the PHCN generating companies owed to gas suppliers and the Nigeria Gas Company Limited (GCL) which have been transferred to the Nigerian Electricity Liability Management Company Limited (NELMCO).

The overall objective of the apex bank was to return the electricity industry to the path of economic viability and sustainability.

It should also be noted that prior to the CBN intervention, the commercial banks were no longer willing to extend credit to the power sector as a result of backlog of unsettled debt.

The apex bank’s move which broke the seeming deadlock, by fresh injecting funds in the electricity industry was widely commended by stakeholders while parties to the agreement all pledged to abide by the terms and conditions.

CBN’S BOLD INITIATIVE

In December 2014, the CBN and the Nigerian Electricity Regulatory Commission (NERC) signed terms and conditions as well as participation agreements with all deposit money banks (DMBs) in the country to commence the disbursement of the CBN’s N213 billion power sector intervention faculty.

The signing was sequel to the apex bank’s earlier agreement with players in the power sector towards boosting the capacity in the sector as well as stimulating economic development in the country.

Under the initiative, all DMBs are expected to take part in the disbursement exercise.

According to Emefiele said,”We are taking this bold step at this stage to get the banks who are to act as channels through which these funds would be paid to the distribution and generation companies as well as gas suppliers to come in to also sign their MoU with NERC as well as the CBN.” “This is clearly a bold step and demonstrates the banking sector commitment towards supporting government’s commitment in resolving the power problems that we have in the country.

“I must commend the Nigerian banks for having done an excellent job up to the time, having taken a bold step to fund the Gencos and discos last year in

their assets acquisition project.

“I am aware that Nigerian banks are predominantly the creditors in the books of these institutions. This further demonstrates the comment of the banking industry to continue to support the growth of the power sector in Nigeria.”

Emefiele had expressed joy that issues bordering on legacy debts which had greatly limited the progress of the power sector had been resolved to give way to improved electricity generation.

He said:”What we are doing here today is to say now we are at a point where the Nigerian deposit money banks (DMBs) as well as the CBN are now ready to work together to disburse to clear the legacy debts and as we clear these debts, the entire chain becomes cleared and the business becomes commercially viable for existing investors to continue to do their business and for new investors who are interested in coming into this industry and boost our power and gas sector in Nigeria.”

He added, “I am pretty much optimistic that this would also encourage Nigerian banks to continue to give support because by clearing these debts naturally, and as the tariffs become commercially viable, the debts they are carrying and portfolios would be paid off and they can continue to d a lot more business.”

The then Chairman of NERC, Dr. Sam Amadi who said the objective of the facility and support was to ensure that the power sector was viable and reliable, also stressed NERC’s commitment to ensuring cost recovery both for the CBN and other investors in the upstream and downstream of the sector.

He said the facility would go a long way to help ensure that “while we continue to ensure that the tariff is cost reflective, it would not constitute a burden on consumers immediately.”

He, said, “For the avoidance of doubt, with this facility there would be no increase in tariff for residential consumers for at least six months until we begin to see improvement.

“We expect that with more gas coming to the power plants, because of this facility and other interventions, in the next two, three, four months, there would be increase in capacity, more reliability, and the metering plan that is ongoing would be able to ensure that consumers are much more comfortable to witness any increase.”

Furthermore, in 2014, the apex bank and key players in the power sector including gas suppliers, electricity distribution and generation companies among others also signed a N213 billion definitive agreement to begin the implementation of the CBN-Nigeria Electricity Market Stabilisation Facility (NEMSF).

This was followed by disbursement of funds and monitoring implementation of the agreements.

Emefiele had said the intervention would reset the economics of the power sector and address liquidity challenges occasioned by legacy debts and revenue shortfall in the sector.

He said all parties have had to make compromise in order to make progress in the interest of the country.

Under the initiative, the sum of N36.9 billion in legacy debt to the power sector had been settled through the CBN-led intervention scheme.

Mechanism was also put in place ensure that all claims are settled and ensuring that gas supply to the power sector is paid for.

The apex bank is collaboration with the Ministry of Petroleum Resource, Ministry of Power and NERC to intervene in NESI was to help resolve its liquids challenges through a Stabilisation fund aimed at settling certain outstanding debts as well as guarantee the take-off of the Transitional Electricity Market (TEM).

Among other things, the CBN stabilisation fund which was disbursed through the deposit money banks would be given at 10 per cent interest rate per annum with a tenor not more than 10 years.

On the other hand, under the agreement, gas supplier are to commit to assured gas supply at higher volumes while both distribution and generation firms would ensure that funds are utilised for equipment and infrastructure acquisition, refurbishment or upgrade as well as commit to repayment plans.

CBN’S BANK ACCOUNT ESCROW

No doubt, there had been smooth implementation of the power sector pact as well as marked results records along the way. The conscious move by the discos to reneged in remittances of revenues due to other stakeholders including gencos and gas suppliers by deliberately declaring meager collections as revenue from electricity consumption, elicited the apex bank’s action to save the situation as well as get the agreement going in the interest of all parties and the economy.

It is noteworthy that even though discos have complained of lack of access to funds to finance their operations, as a result of government’s escrowing of the accounts, the CBN and federal government have since realised huge revenue which is being raked into the discos vaults while had also been accountability entrenched.

Essentially, the move by the government to escrow and centralise their revenue accounts was basically as a result of poor market performance on their monthly remittances.

They said such move would be a nationalisation of the 11 Distribution Companies (DisCos), privatised just three years ago.

According to the Nigerian Bulk Electricity Trading Plc (NBET), discos had repeated remitted only 30 per cent of their monthly energy invoices as at 2017.

According to recent data from NERC the electricity sector illiquidity persisted as discos remitted only N265.03 billion of N519.77 billion invoices to NBET in six months.

Data showed that despite intermittent government intervention, liquidity in the sector had remained a major challenge.

For instance, in the first two quarters, of 2021 spanning January to June, the data showed that only about half of the total expected payments to NBET were made by the 11 Discos to NBET and the Market Operator (MO).

From January to March, the Discos received N260.07 billion invoices for energy they got from the bulk trader and for service charges by the MO, out of which only a sum of N134.92 billion was settled.

STAKEHOLDERS COMMEND CBN

However, stakeholders and analysts have commended the apex bank’s move to instil transparency and accountability in the transactions by discos.

Amadi, had to THISDAY that a key measure of the success of the policy would be when Nigerians can access more power supply.

He explained that the purpose of the escrow was to enable the CBN recover its fund so that it is not frittered or used by the discos to finance their investment.

He said the CBN intervention is a special funding to deal with the liquidity crisis and legacy debt in the sector adding that it is supposed to be repaid but through a convenient process that will not adversely affect discos’ investment plans.

Special Assistant to the President on Infrastructure, Ahmed Zakari said the measure had helped increased remittances, thereby aiding liquidity in the sector.

He explained that the visibility provided by the system had helped NERC’s regulatory oversight of the discos as well as providing independent data.

Also, former Managing Director of NBET, Rumundaka Wonodi, told THISDAY that while it is a temporary measure, the escrowing of discos’ accounts had helped in ensuring some level of transparency in the sector.

He said, “So far it had helped in increasing revenue in the sector. So many people have accused the Discos of poor remittances, the initiative will make everything open. But it needs to be widened.”

Also, supporting the measure, the Market Operator, Transmission Company of Nigeria (TCN) Edward Eje, said the development had made difficult for any discos to misappropriate their monthly revenue collection as the apex bank’s CBN’s Special Purpose Vehicles (SPVs), Meristem, monitors all the Discos’ commercial banks through which every Discos revenue is remitted.

He said, “This intervention has actually brought about a level of payment discipline in the market.”

Furthermore, a Director at PricewaterhouseCoopers, Habeeb Jaiyeola, had suggested that while the financial discipline had achieved stability in the sector, especially in strengthening the liquidity crisis, there was a need to keep improving collection in the sector.

Hr said, “One of the major measures that can further improve liquidity in the sector is to improve on collection.

For that to happen, metering of consumer and capacity development is important.

“If there is the low collection, there will be low distribution and high collections will lead to high distribution. So, we need to urgently address those challenges affecting low collections in the sector. Until this is done, we may not have a sustainable solution to the liquidity issue.”

Analysts are of the view that given the laudable concept and positive impact which the CBN funding intervention had brought into the power sector, it is important for all parties in the agreement to strive at ensuring compliance for the benefit of the industry and economy.

No doubt, it took a great deal to secure the power sector financing deal.

T H I S D AY ˾ WEDNESDAY, JANUARY 19, 2022

28

BUSINESSWORLD

CAPITAL MARKET

Examining Stanbic IBTC’s Role In Securities Lending Ugo Aliogo posits that Stanbic IBTC has driven the adoption of securities lending more than any other organization in the capital market

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n response to the clamour for market expansion, the Nigerian Exchange Limited (NGX) introduced many products – securities lending being one of them – to give investors an array of asset classes to choose from.

Since introducing the guidelines for trading in securities lending a couple of years ago, uptake has steadily risen, though not as robust as envisaged. However, the latest report on the asset class by the NGX reflects its huge potential.

The report showed that in 2019, a mere 61,435 shares worth N344,555 were exchanged. In 2020, however, the market witnessed impressive growth, rising to over 7 million units worth a combined N95.2 million traded in August 2021. While the volume in traded equities fell, the value grew to N513 million.

Analysts continue to see promise in securities lending due to the unique nature of the asset class. Indeed, it presents significant benefits to investors and the market. “Whether you are a speculative investor looking to make quick gains or a long-term investor holding stocks, securities lending provides the strong potential to deliver benefits to all market players through capital gains and low-risk incremental income,” said Jude Chiemeka, Head, Trading Business Division of NGX. It is also important in providing liquidity for the market.

The COVID-19 pandemic has shown how important it is for investors to build a diversified portfolio, one that can withstand market shock and volatility. With securities lending, a wider bouquet of investment choices is made available to prospective investors. Due to its unique and novel nature in the Nigerian capital market, it is crucial to engage the services of expert securities lending agents that can guide and assist in facilitating this kind of transaction.

For proper perspective, it is essential to examine what securities lending is. According to Jesuseun Fatoyinbo, Head, Transactional Products and Services, Stanbic IBTC Bank, securities lending is the temporary transfer of securities from one party to another, with a simultaneous formal agreement to return the securities either on-demand or at an agreed date in the future.

Full legal title to the securities is transferred from the holder of the securities (the lender) to the party temporarily taking ownership of the securities (the borrower) so that the securities can be sold by “the borrower” for short selling.

Securities lending and borrowing transactions are governed by the terms of securities lending agreements aligned to terms and conditions as agreed by the parties and in line with international best practices. The lending agreement must be completed, and it sets forth the terms of the loan, including duration, fees, and the nature of collateral (cash, government securities, equities, among others).

Over the past years, however, Stanbic IBTC appears to have driven the adoption of securities lending more than any other organisation. The Securities and Exchange Commission (SEC) in 2012 issued licenses to five Securities Lending Agents (SLA), and Securities Lending and Borrowing (SLB) services were officially launched in the Nigerian market in

Fatoyinbo December 2015.

In 2015, Stanbic IBTC introduced a securities lending product. “We are delighted to be introducing the Stanbic IBTC Securities Lending product into the Nigerian market. The product launch further demonstrates our commitment to facilitating stability and growth of the Nigerian capital market via confidencebuilding initiatives and leveraging investment opportunities in the market.

Other derivatives will be introduced in the future,” the spokesperson for Stanbic IBTC had said at the launch.

The introduction aligns with Stanbic IBTC’s tradition of highlighting opportunities to help investors derive optimal value from their investment. As a member of the Standard Bank Group, Stanbic IBTC has a responsibility to help grow the capital market through offerings and initiatives that could help investors harness investment opportunities in Nigeria.

Investors need to spread their investment options across different financial derivatives, and in doing this, they minimise risks associated with tying investments in particular stocks and securities.

Diversification into different asset classes reduces risk levels while offering higher returns.

In driving the product’s success, Stanbic IBTC continues to rely on its extensive product knowledge and expertise, rich technology capabilities, access to lenders and borrowers to drive utilisation, sound risk management fundamentals and comprehensive reporting capability.

Borrowers are typically market participants such as market makers, portfolio investors, broker-dealer firms, investment banks, intermediaries, stockbrokers, and other similar organisations.

Lenders are usually institutional investors and high net worth individuals interested in growing the value of their

portfolios over the medium to long term, thereby increasing the return on their portfolio.

However, the Nigerian market has opened the opportunity for securities lending to a broader range of clients. The recent guidelines by the market for retail participation were issued, and individuals holding assets for the long term can now pledge their securities for lending purposes for a fee.

Securities lending has an enormous impact from a benefits realisation perspective on every participant in the market. For instance, it translates to more trades and activities both on the buy-side and the sell-side. This will herald continuous liquidity, and the Exchange will also become fully functional to accommodate other types of transactions like derivatives. It will steadily improve market development for new products and attract more investors into the capital market.

Just recently, Stanbic IBTC concluded the biggest securities lending transaction in Nigeria’s history between a willing lender and a willing borrower. Speaking on the transaction, Jesuseun said: “These milestones are very pertinent to our journey to developing and deepening liquidity in the capital market. This is also a critical piece in moving Nigeria from a frontier market status to an emerging market.”

Stanbic IBTC has had different stocks in the pool over the years and currently has Dansugar, Guaranty, MTN, UBA and Zenith whilst it continues to engage more lenders with liquid stocks into the lending pool. The NGX report showed that Zenith Bank Plc pledged 77.33 million shares, MTNN 8.89 million shares, Dangote Sugar 43 million shares, GTCO 31.09 million shares, and UBA about 45 million shares.

However, beyond the securities lending product launch, Stanbic IBTC has continued to organise roadshows, training modules, media interviews, and other learning initiatives to create awareness of the asset class. In 2020, Stanbic IBTC hosted the Nigerian Securities Lending Forum in partnership with the NGX. The forum hosted over 290 experienced industry players and regulators to update and unpack the conversations on the future of securities lending in the Nigerian market. A similar webinar was also hosted in partnership with the NGX in 2021.

The forum also brought the entire investment value chain, including regulators, up to speed on where the market is on the securities lending journey and how players can leverage it to build more depth and liquidity into the capital market, amongst other benefits.

Efforts by the market and Stanbic IBTC on securities lending will undoubtedly continue to broaden the opportunities in the market.

Already, market players are curious and aspire to learn more about the asset class, with a handful already getting their clients onboard to participate. If efforts by Stanbic IBTC and others remain consistent, securities lending has the potential to boost the NGX’s goal of becoming the leading bourse and a gateway to Africa when it comes to capital formation and investment.

12 BANKS RAKE IN N1.86TRN FROM ACCOUNT MAINTENANCE, E-BANKING FEES, OTHERS IN THREE YEARS have been greatly inconvenienced by the service suspension, we now have alternative channels of accessing MTN services electronically,” a section of the statement read.

Banks had notified the telecommunication company of disconnecting subscribers if they did not revert to the old commission, but when their appeal failed to sail through, they blocked MTN subscribers from their channels, leaving customers unable to recharge virtually.

A data by NCC revealed that MTN has 73.6 million subscribers who make up 38.61 per cent of the total telecommunication market share in Nigeria, while Airtel with 51 million subscribers and a market share of 26.79 per cent as at September 2021 are arguably the first and third largest telecommunication operators in the country.

Analysts said that the entrance of MTN Nigeria and Airtel Africa into the financial services space will heighten competition especially with banks and Fintechs companies currently operating in the country.

They expressed further that competition is necessary to drive financial inclusion through the provision of diverse and convenient financial services to the unbanked population.

The Chief Executive Officer, Financial Derivatives Company Limited, Bismarck Rewane had in a recent chat with THISDAY noted that principal approval by CBN is meant to create competition and boost the nation’s economy.

According to him: “In mobile money countries like Kenya, Ghana, among others, banks are making money and mobile money operators are also making money- it is better for everyone because it brings greater financial inclusion.

It a complete misinterpretation of facts that it will affect banks fees and commission. Banks in Ghana are making profits and it has not reduced their profit.

“The mobile payment system in Ghana has become more efficient and actually boosts economy growth. It is a great thing CBN granted MTN Nigeria and Airtel

Africa principal licence. The approval will help the mobile money platform and it will impact positively on the nation’s economy.

“The approval means customers will look for the most convenient and efficient way of making transfers. The license is in everybody’s interest and I’m surprise it took so long. Three telecos operators were granted and they had no impact.

Now, there will greater competition, efficiency and it will bring down cost of payment settlement going forward.”

The President, Association of Telecommunication Companies of Nigeria (ATCON), Mr. Ikechukwu Nnamani said the approval by CBN is long overdue, stressing that financial inclusion effort in Nigeria has been slow because for many years, the CBN has insisted in making financial inclusion activities to be banks instead of telecommunications lead.

He explained further that: “Given the subscriber base in the country, it is expected that if financial inclusion

activities is telcos lead, then we will see far more adoption of financial services across the country that is currently the case.

“We have seen examples in other countries that support this assumption. So I am very happy we finally got to this point. I believe it will enhance the delivery of financial services across the country. In all parts of the world where telcos lead financial inclusion services have been allowed to thrive it has not had any negative impact on the traditional banking system, instead, it has helped enhance it.

“Remember the underlying word here is financial inclusion.

The major beneficiary of these services will be people not already embracing the traditional banking services. So I don’t see how this will negatively impact the traditional banks. I see it as a win-win for all parties including the banks.”

On his part, President, Bank Customers Association of Nigeria (BCAN), Dr. Uju Ogubunka, said the principal approval granted to MTN Nigeria and Airtel Africa is

expected to impact on financial inclusion stakeholders have been talking about over the years.

According to him: “So many people were excluded from the financial inclusion and with mobile companies involved in payment services, it will expand the scope and increase number of people in the financial affairs of the country.”

He said that the mobile money payment sector going to witness competition with banks, given the outreach telecommunication companies have across the country.

“I think telecommunication companies are going to compete with banks and it may drive down cost and bring about efficiency in the sector. Once we have serious competition, we may have cut reduction and customers will be looking for better price settlement.”

Speaking also with THISDAY, Prof. Hassan Oaikhenan of the Department of Economics, University of Benin said licence approval to MTN Nigeria and Airtel on mobile payment service bank

business in Nigeria makes a lot of sense.

He noted that the approval is expected to expand financial inclusion to unbanked in rural area, maintaining that banks fees and commission on E-income is expected not to shrink.

The Chief Executive Officer, Airtel Africa, Segun Ogunsanya in a statement said: “I am very pleased that Smartcash has been granted an approval in principle to operate a service bank business in Nigeria. We will now work closely with the Central Bank to meet all its conditions to receive the operating licence and commence operations.

The final operating licence will enable us to expand our digital financial products and reach the millions of Nigerians that do not have access to traditional financial services. I am looking forward to working closely with the Government, the Central Bank and traditional financial institutions to expand financial inclusion and meet the evolving needs of our customers and the economy.“

T H I S D AY ˾ WEDNESDAY, JANUARY 19, 2022

29

BUSINESSWORLD

INSURANCE

Addressing Group Life Insurance Policy Abuse Like third party motor insurance, group life policy has suffered much abuses by private and public sector employers and their agents, writes Ebere Nwoji

T

he Group Life Insurance policy is one policy that supposed to make both public and private sector employees’ career interesting and attractive because of its ability to rekindle hope to families of both deceased workers and workers who suffered permanent disability.

The policy is designed to pay huge claims to dependants of employees who died in active service or those who suffered permanent disabilities.

Unfortunately, this particular policy has so much suffered abuses that for many workers and their employees, it is non-existent.

The result is that for many Nigerian workers, especially low and middle class workers, the moment the family breadwinner dies, the hope and living standard of his or her family automatically crumbles.

This is so despite that federal government annually makes huge provisions for Group Life Insurance of its workers.

The federal government in its budget this year appropriated N24.7 billion for Group Life Insurance of its workers.

The figure represents 65 percent increase in N15 billion budgeted by government for the same purpose in 2020.

Insurers admitted that in both 2020 and 2021, government made provisions and released fully the fund budgeted for the group life insurance of its workforce.

This is an improvement from the hitherto situation whereby government will announce the budget for the group life insurance of its workforce as well as funds for insurance of its assets but the release of the stated funds becomes a problem.

This improvement has been commended by insurance sector operators at various forum.

Former President, Nigerian Council of Registered Insurance Brokers (NCRIB), Dr. Mrs Bola Onigbogi, on this said: “the 2020 Group Life is off the schedule because full premium has been paid on the account for the current year. There is no lapse in cover at the moment.”

Onigbogi, who was represented by the Vice President of the Council, Tunde Oguntade, at a meeting with the NCRIB’s officials, however urged the federal government to always engage the services of the registered insurance brokers to mitigate the risk of contract failures.

VIEW OF STAKEHOLDERS

But insurance industry stakeholders noted that now that government willingly releases funds for the policy, what is not certain and therefore worrisome is how regularly and easily insurance firms accredited to provide cover for government workers pay claims from the Group life insurance contract.

The industry observers said they often hear how much government budgeted, names of insurance brokers and underwriters accredited to underwrite the business each year but that they hardly hear or witness when these insurers present claims cheques to the families of deceased federal government workers whom the policy is meant to cover.

BENEFITS OF POLICY

Group life insurance is a benefit that groups or employers offer to their members or workers.

The insurance contract is usually between the insurance company and the group. Basically, the participating group members receive certificates

of coverage. In Nigeria, the claim is usually three times the total emolument of the eligible worker’s annual pay.

The policy matures at death, accidents or any other conditions contained in the policy documents, its coverage for each worker is for one year after which it is renewed.

Insurance sector operators have often warned that given the prevailing “no premium no cover” policy, any year government fails to release funds for the policy, the family of its deceased worker whom the policy supposed to cover would not receive any thing from any insurance company.

POLICY ABUSE

Similar to third party motor insurance policy, the group life insurance is often abused by both private and public sector employers as well as government insurance officers.

Among the private sector employers, many do not want to hear it mentioned as a condition of service. What such employers often do is that when their employee dies in active service, they pay a visit to the family and perhaps give a paltry sum to the family.

This is so whereas Section 4(5) of the PRA 2014, provides that “every employer shall maintain a Group Life Insurance Policy in favour of each employee for a minimum of three times the annual total emolument of the employee and premium shall be paid not later than the date of commencement of the cover”.

Section 8(1) of the PRA 2014 provides that “where an employee dies, his entitlements under the Life Insurance Policy maintained under this Act shall be paid by an underwriter to the named beneficiary in line with Section 57 of the Insurance Act”.

Stakeholders in the policy regretted that despite these Provisions, employers hardly abide by the rules.

Indeed they violate it at random.

Among the private sector employers, they fail to package the policy for their workers while the public sector employers pay lip service to it. Unfortunately, these employers are often ignorant of the legal consequence of contravening Section 4(5) of the PRA 2014, which is civil and criminal. Section 4(6) of the PRA provides that: “Where the employer failed, refused or omitted to make the payment as and when due, the employer shall make arrangement to effect the payment of claims arising from the death of any of the staff in its employment during such period” Section 99 (1) of the Act goes further to state that: “Any person who contravenes any of the provisions of this Act commits an offence and where no penalty is prescribed, shall be liable on conviction to a fine of not less than 250,000 or a term of not less than one year imprisonment or to both fine and imprisonment.”

REGRETS AND IGNORANCE

Some government workers who spoke to THISDAY on the policy regretted that the above fine was so low that smart employers would prefer to contravene the Group Life Insurance law and pay the N250, 000 fine which is obviously much lower than three

times the annual total emolument of most workers.

High level of ignorance of existence of the benefit at death by the workers themselves and their families often support their ugly act.

Indeed, investigations by THISDAY show that no deceased worker’s family has approached their breadwinner’s employer to demand for Group Life Insurance right.

The best they do is to approach the organisation and ask for any gesture the company would be willing to give to their bread winner and any amount the organisation decides to give as benefit, the family members grab it with joy thanking the management profusely without caring to calculate three times their breadwinner’s annual salary so as to demand for his right entitlement from the employer.

ABUSES BY GOVERNMENT

THISDAY checks reveal that even among public sector employers, the Group Life Insurance suffers the worst abuses from federal government and its agents.

According to findings, the policy is abused in diverse ways, ranging from initial non release of the fund budgeted for the policy as announced during the budget to non implementation of the budget on it, also non payment of the claims by the insurance firm in charge due to one reason or the other.

For instance, in 2014, it was once reported that out of N2 billion budgeted for group life insurance of government workers and insurance of government assets, only 10 percent was spent meaning that only N200 million out of N2 billion actually got to insurers while the balance of N1.8 billion went down the drain.

Industry analyst said only God knows the fate of government workers who died within the period.

In their analysis of what may have happened, they said under that circumstance, government agents who bid for the premium rate often collude with the insurers to cut the rate to the barest minimum with agreement that in the event of loss, the agents will not ask for claims.

This means the government insurance agents and the brokers or insurers agreed to underinsure the assets and the group life.

Similar thing happened in 2016 as six months after the expiration of the policy, it was not renewed as there was friction between the office of Head of Service of the federation and the National Insurance Commission (NAICOM).

During the period, federal government pronounced N60.3 million budget for its insurances including group life insurance but the National Insurance Commission (NAICOM) as government adviser on insurance withheld approval for the list of insurance companies and brokers that will be involved in the business.

During the period, THISDAY ‘s enquiry on the delay revealed that aside non approval of the insurers’ list by NAICOM, issues bothering on lack of funds, review of modalities for repositioning the scheme were responsible for the delay.

It was also gathered that NAICOM, as the

apex regulatory body of insurance sector and adviser to the federal government on insurance matters, was irked by the lack of consultation by the Head of Service, Mrs. Winifred Ekanem Oyo-Eta, on processes of reviewing and repositioning the scheme for greater efficiency.

THISDAY learnt that although the Presidency gave approval, the shifting of responsibility between the offices of the Secretary to the Government of the Federation and the Head of Service of the Federation affected the timely renewal of the policy.

Also NAICOM’s non involvement in the selection of the insurance firms and brokers to underwrite the policy compounded the problem.

IMPLICATIONS

The implication of this power tussles and lack of willingness to accept responsibilities by the government officials in charge was that the renewal of the policy then lingered until around August /September of that year. Meanwhile, families and dependants of government workers who died within the period were left in their own fate, whereas claims from the policy supposed to bring succor to their wives and children.

Against this backdrop, the media was awash with reports and analysis over insensitivity of government and its agents to the policy and its administration .

To ameliorate the problem, NAICOM then came up with its adequate pricing policy by mandating the insurers to quote the official premium rate on all government insurances insisting that it would continue to monitor claims payment on all government accounts and would make sure that irrespective of low rate given by any insurance firm to corner the business, such firms must pay every claims emanating from government business underwritten whether the right premium was charged or not.

The commission, further advised government to appoint insurance desk officers who are core insurance professional to ensure that government insurances are well handled.

It further advised government to be alive to its insurance responsibilities through monitoring the implementation of insurance budgets.

NAICOM’S EFFORT

This effort by the commission has yielded the present fruits of timely release of budgeted funds for insurance and payment of group life insurance premiums, which insurers have been reaping since 2020.

Before now, due to ridiculous pricing of the group life insurance and insurances of government assets, some forward - looking insurance underwriters like Mutual Benefit Assurance jettisoned the business and focused on retail insurance by building robust agency system.

The Company’s Chairman, Dr Akin Ogunbiyi, told the media that he purposely withdrew from government account because it was very unattractive due to poor pricing system.

Managing Director Risk Analyst Insurance Brokers and former President Chartered Insurance Institute of Nigeria (CIIN), Mrs. Funmi Babington Ashaye, said government agents in charge of premium pricing for the business usually beat the rate to the skin.

NOTE: Interested readers should continue in the online edition on www.thisdaylive.com

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T H I S D AY ˾ WEDNESDAY JANUARY 19, 2022

EDUCATION Ogundipe: UNILAG’s Quantum Leap under My Watch With about 10 months to the end of his five-year tenure as Vice-Chancellor of the University of Lagos, Prof. Oluwatoyin Ogundipe highlighted his administration’s achievements. He explained how his focus on research yielded positive results. Uchechukwu Nnaike reports

A

t the inception of his administration in November 2017, Prof. Oluwatoyin Ogundipe had promised that the focus on research would change at the University of Lagos. Training and workshops were organised to build capacity and pave the way for cutting-edge multidisciplinary research, resulting in 267 research grants received by the university, worth over N17 billion.

According to him, one of the research outcomes was the development of the portable and easily deployable ventilator during the COVID-19 pandemic in 2020. He announced that the Lagos State Science Research and Innovation Council (LASRIC) provided additional funds for the clinical trials of the ventilators.

Ogundipe said the university was the highest recipient of TETFund NRF 2019 as 14 staff received a grant of N419,600,000.

“Also, in 2020, 16 of our staff received N419,400,000 as a total grant from the 2020 TETFund NRF. We believe that this steady growth in research activities is precipitated by the approaches we are adopting to encourage our staff to showcase their talents,” the VC explained. “It is, therefore, no surprise that the University of Lagos was adjudged as the best tertiary institution in the South-West on TETFund research grant utilisation.”

For the first time in its history, the university was granted 18 patents in four years. The VC stated that the university’s membership of the ARUA Network helped to attract two Centres of Excellence in Housing and Entrepreneurship, providing empirical evidence of issues relating to housing and entrepreneurship.

To give researchers optimum service, he said, “The Research and Innovation Office recently received support from AGIP to renovate its office to a more befitting state. We would continue to train and retrain our staff and come up with policies that will support demand-driven research across the country.”

Under his administration, UNILAG hosted several national and international conferences,

Ogundipe colloquia, and workshops to raise awareness about topical issues, ideas and disseminate knowledge.

He expressed delight that the institution’s Distance Learning Institute is delivering on its mandate to increase access to higher education, with enrolment reaching up to 23,000 students from 10,000.

He also announced that the senate’s approval and necessary NUC resource

verification led to the establishment of the University of Lagos Business School (ULBS) to provide the much-needed expertise in the business world. The school will graduate its first set this year.

The VC also announced that the muchawaited Doctor of Business Administration (DBA) programme would commence this session.

He said the university has set up partner-

ships and collaborations with institutions in Europe, America, Asia, and Africa to boost its international ranking. It also commenced the UNILAG International Week, which focused on the internationalization of higher education.

“The University of Lagos is one of the cofounders of a consortium of universities under the European Universities Initiative led by University of Bayreuth, Germany. There are 12 European universities in the consortium and our university is the only African university among the founding universities,” Ogundipe added.

He also mentioned that the university partnered Stellenbosch University, South Africa, to co-found the African Student Leaders Network (UMOJA), to support young leaders at the university level to work collectively towards helping to solve the complex challenges Africa faces.

“Our students took advantage of this internationalisation drive, and a student at the Chemical Engineering Department won the fully funded prestigious DOW Chemicals Dow Innovators Invention Programme- a nine months fully funded internship programme in Switzerland,” stressed the UNILAG vice-chancellor. “Also, five students from the university won the three months African Leadership Internship programme with the Bank of America in 2021.”

Ogundipe recalled that UNILAG’s international ranking was not favourable when he assumed office. In the last four years, it has moved up considerably on the ranking ladder, from not being recognised to the 501-600 bracket in universities global ranking.

“This is indeed a reflection of the hard work and tenacity of our academic and non-academic staff,” he stated.

Reflecting on the impact of COVID-19, he disclosed that the university developed an elearning platform for students and supported them with data during the examinations.

NOTE: Interested readers should continue in the online edition on www.thisdaylive.com

Oji: Making ZESPRONET a Role Model in Nigeria’s Education System A non-governmental organisation, Zenith Environmental and Social Protection Network (ZESPRONET), was launched during a 2015 reunion by the Abia State University Alumni to address global warming issues in the South-East and seek ways of adding value to the alma mater, among other things. Leading US physician and president of the Abia State University Alumni, Emeka Boris Oji, and his colleagues recounted the journey so far after delivering an N80 million postgraduate hostel to the university. Nduka Nwosu reports

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hen Emeka Boris Oji, a 1999 optometry graduate of the Abia State University School of Medicine and his fellow alumni came together to form an association whose interest is to help one another while adding value to the university community and the larger society, that move attracted critical applause.

During a 2015 alumni reunion, the members agreed to form a non-governmental-organisation to address climate change, environmental cleanliness, and protection and seek ways of being useful to each other. Zenith Environmental and Social Protection Network (ZESPRONET) was formed.

According to Oji, the idea is to protect the environment through constant sensitisation programmes involving the public and government on global warming, especially in the South-East battling the devastating effects of gully erosion.

The non-governmental organisation will also interface with the group and the international community to bring about global best practices while providing solutions.

“We just completed an N80 million, 44-bed postgraduate hostel with each room being ensuite and with TV rooms and game rooms which were handed over to the Abia State University, Uturu, with no strings attached,”

Oji stated Oji. Governor Okezie Ikpeazu of Abia lauded the initiative, While receiving an honorary doctorate from ABSU in 2019, he hinted the alumni group would deliver a hostel to the university in less than 15 months. In November 2021, they made good their promise.

“This is the most ultramodern hostel in the school. We believe

both ABSU and other universities and the state governments can learn from this model and utilise it for what it is worth,” he stressed.

The group has had a fundraiser of about N67 million to provide medical and other assistance.

“The value of ZESPRONET are its members and what they bring to the table. We are made up of heads of government parastatals, permanent secretaries, and heads of businesses as well as CEOs and lots of medical professionals, engineers, architects and sundry business owners and members of the clergy,” said Oji. According to Oji, the alumni had in the past supplied books and medical journals worth over $20,000 to the ABSU medical library and only recently completed a six-week radio campaign in the five eastern states. ZESPRONET has been at the forefront of non-violence confrontation and engagement, supporting the political ambitions of South-East citizens.

The education system in Nigeria today is ill-positioned for the challenges of the 21st century, while private education is almost out of the reach of most Nigerians, thus creating two parallel societies we may live to regret, according to Oji. “All the powerful public schools: Harvard, Columbia, Oxford, etc., depend a lot on endowment funds donated by their alumni

and families to make up for the difference government and tuition provide for them. This model also needs to be adopted and encouraged by the government,” he noted.

He added, “We know this country will be better off because of organisations like ZESPRONET that believe there is joy in meaningful and impactful giving.”

ZESPRONET, he disclosed, was in conversation with Heifer International to see how “we can distribute high breed dwarf goats to widows in different communities as a means of wealth-building and the acquisition of financial independence.”

The organisation also has plans to build a soup kitchen, the first of its kind in Owerri.

“There will be a complex with an event centre where funds coming from the event centre are utilised in running a high-end restaurant where the less privileged can walk in and get fed for free without any questions asked,” Oji revealed.

The alumni plan to plant trees in Lagos, in the five eastern states and ABSU, among projects to be delivered in the next two years.

“For our members, we are working out the details of a small business loans scheme that we hope will come on board through our cooperative society in 2022,” he added.

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T H I S D AY ˾ WEDNESDAY JANUARY 19, 2022

EDUCATION

Babcock Varsity Inducts 54 Medical Doctors Funmi Ogundare

It was jubilation recently as Babcock University, Ilishan Remo in Ogun, inducted 54 doctors into the Medical and Dental Council of Nigeria (MDCN).

Miss Perelade Jojo Kingdom topped the class with eight distinctions in Anatomy, Biochemistry, Physiology, Pathology,

Obstetrics and Gynecology, Paediatrics, Surgery and Internal Medicine.

At the sixth induction ceremony held at the Pioneer Church of the institution, she told THISDAY, “So I’m happy.”

Kingdom, aspiring to be a researcher, ascribed her success to God and her parents.

Other medical inductees

were Miss Toluwalope Ogunjimi with seven distinctions in Anatomy, Biochemistry, Physiology, Obstetrics and Gynecology, Paediatrics, Surgery and Internal Medicine; Vivian Ezeh with six distinctions in Anatomy, Physiology, Pathology, Paediatrics, Surgery and Internal Medicine.

Abia governor’s daughter Betsy Ikpeazu had four

distinctions in Anatomy, Biochemistry, Obstetrics and Gynecology, and Internal Medicine.

Earlier in his remarks, the Provost, Benjamin Carson School of Medicine, Prof.

Barnabas Mandong, commended the graduates for their perseverance, determination, and courage to undergo medical training.

“I believe that the sky

shall be the beginning of your growth. I wish to remind you that as trained mission doctors, be good ambassadors of your parents, Babcock University and Nigeria,” stated Mandong.

The Vice-Chancellor, Prof.

Ademola Tayo, admonished them to be prepared to have workplace challenges while setting the needs of their patients before that of the system.”

He added, “This time I’m medicine is both particularly exciting and challenging one for doctors. In Nigeria, there are challenges of doctorpatient ratio, remuneration and facilities. How you deal with these challenges will determine your staying power in the profession.”

The MDCN registrar, Dr. Tajudeen Sanusi, appealed

to the doctors to stick to the council’s code of professional ethics, saying their certificate will be revoked if they fail to do so.

“We have our code of ethics for professionalism.

It is important to note that the tribunal is no respecter of anyone for misconduct.

If for any reason you are convicted, for any crime, your name will be erased,” he pointed out.

Governor Okezie Ikpeazu of Abia described the medical profession as a calling to serve and have compassion on people while congratulating the VC for his efforts.

The programme witnessed the presentation of a gift to Prof. Ayodele Desalu, reputed to be the oldest and longest-serving anatomist in Nigeria.

Ibadan Psychometrics Centre Unveils ‘The Genius’ Magazine Kemi Olaitan ÓØ ÌËÎËØ

Medical graduates of the Benjamin Carson College of Health and Medical Sciences, Babcock University, Ilishan Remo, Ogun State, taking their oath of allegiance into the Medical and Dental Council Nigeria ( MDCN) at the institution’s sixth induction ceremony recently

Lalong Pledges Assistance to Karl Kumm Varsity Council Seriki Adinoyi ÓØ ÙÝ

Governor Simon Lalong of Plateau has directed the Commissioner for Higher Education and the Head of Service to immediately engage stakeholders in resolving the misunderstanding that led to the suspension of the licence of Karl Kumm University (KKU), Vom, owned by the Church of Christ in Nations (COCIN).

Lalong was speaking when the Pro-Chancellor and Chairman of Council of the University, Prof.

Ochapa Onazi, led council members on a courtesy visit to Government House, Rayfield Jos. The governor expressed

displeasure that the university that obtained its licence in 2021 could not take off due to a misunderstanding with its host community over the registrar’s appointment.

Lalong further stated that his administration had previously restrained itself from meddling in the affairs of the private institution.

He said, “Plateau State is known as a hub for education, and we are proud of COCIN for the contribution of its educational institutions, which have produced great minds in Nigeria.

However, this development at the KKU does not speak well for the state and must be addressed immediately.”

Speaking further, he disclosed, “Just last week,

I visited Mr. President and appealed to him to sign the bill passed by the National Assembly to upgrade Federal College of Education Pankshin to a University of Education.

While we are looking for more Universities, we have to show that we are ready to be good hosts.”

He said, “We have explained to the host community that we could not have gone ahead to appoint a candidate with deficiencies and create further problems for the new institution.

We have also explained to the community that there are other appointments of principal officers for the university yet to be done, which we hope will consider

their interest based on the MOU.” But, according to him, the youths refused to budge despite all entreaties from Dagwom Rwei, the traditional ruler of the area, among others.

He explained that the university prefers to embrace dialogue rather than confrontation, which is why it has maintained a peaceful posture despite acts of provocation.

Vice-Chancellor of the university Prof. Nanven Audu Gambo, said the governor’s intervention would go a long way in ensuring that the university takes off immediately to avoid further waste of time and resources.

Catholic Church Establishes College of Health Technology Emmanuel Ugwu-Nwogo ÓØ ×ßËÒÓË

The Catholic Diocese of Umuahia has formally unveiled its new institution, the Madonna College of Health Technology (MACOHTECH), Olokoro, Umuahia, set up to train healthcare technicians.

The Catholic Bishop of Umuahia, Most Rev. Lucius Ugorji, stated that MACOHTECH would provide youths with the needed

skill to function effectively and make a living in the health sector.

Speaking during the first matriculation ceremony of the institution, the pioneer Provost, Rev. Fr. Christian Anokwuru, said, “We are here to raise excellent and responsible health professionals, who will stand out from the crowd through their character and quality training.”

He further stated that with

its state-of-the-art equipment, facilities and qualified academic and non-academic staff, MACOHTECH would bridge the manpower gap in healthcare technicians.

Aside from training the allied health professionals, the provost said the institution would positively impact the host community by providing healthcare services as its Community Health Department will offer maternal-child care.

The Chairman of the Governing Council of the College, Prof. Hilary Edeoga, former vice-chancellor of Michael Okpara University of Agriculture Umudike (MOUAU), assured that the institution would live up to expectations.

MACOHTECH took off in November 2020 with 25 pioneer students, but the students’ population has risen to 200 across the four departments.

The International Psychometrics Centre (IPCentre), Ibadan, has released the maiden edition of its magazine, ‘The Genius’, to cover the last quarter of 2021.

The Chairman/Editor-inChief of the magazine and Chairman of the Governing Council of the centre, Otunba Abimbola Mosobalaje Davis, said it was designed as a snapshot of the various activities of the International Psychometrics Centre.

According to him, the allgloss 90-page magazine was conceptualised to be 80 per cent academic and designed to celebrate scholars in academia.

Two renowned professors were celebrated in the magazine with Prof. Toyin Falola, picked as the genius of the month, introducing a redefinition of knowledge prioritisation to business-minded people.

Also, the Rector of The

Polytechnic, Ibadan, Prof.

Kazeem Adebiyi, was featured.

The magazine also contained research of the month featuring Prof. John Rust’s Sociobiology and Psychometrics, with contributions from Igo Jacob, Manager Academics of IPC and Prof. Benjamin Ehigie of the department of Psychology, University of Ibadan.

Some of the efforts of the Executive Secretary of the National Board of Technical Education (NBTE), Prof. Idris Muhammad Bugaje, was also projected in the magazine in an article titled, ‘Idris Muhammad Bugaje and His Tour De Force’.

The IPCentre is a strategic research network dedicated to research, teaching and product development in both pure and applied psychological assessment with emphasis on the online environment and impart practical knowledge of psychometrics in different disciplines.

Educationists Advocate History in School Curriculum Funmi Ogundare

A director in the Nigerian Educational Research and Development Council (NERDC), Dr. Dada Shonibare, has described history as a valuable subject.

Shonibare, who made this known recently at the launch of a book on history for primary schools in Nigeria, said the subject had gone beyond the documentation of events. ”There are many barriers placed against total empowerment of individuals in the society. These strategies are hidden in the history of time, widely opened to be explored and benefitted from both as an entity and as a nation,” he noted.

The book exposes the various aspects of Nigerian history with the intent to foster unity and create a national role model

for the upcoming generation.

He emphasised the need to train teachers, organise seminars, and establish a teachers’ guide to teach Nigerian history effectively.

“To what extent are school administrators aware of the history curriculum? To what extent are teachers trained in the use of the new history curriculum? To what extent are the assessment agents prepared for feedbacks on the impact of the curriculum?” Shonibare stated.

The author of the book, Prince Olalekan Quadri, said, ”Leaders do not learn from the past, and if you forget about the past, there is no way you can learn about the present so as not to make mistakes. If we are bringing back history today, the NERDC should enforce the study of history in our schools so that people can learn.”

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T H I S D AY ˾ WEDNESDAY JANUARY 19, 2022

EDUCATION

Restoring Hope through Education: Yusuf Ali Foundation Donates A Peek at Bridge Nigeria’ Impact in Books to Kwara Govt Underserved Communities Hammed Shittu in Ilorin

As part of efforts to promote students’ academic excellence in Kwara and Osun, a non-governmental organisation founded by Yusuf Olaolu Ali (SAN), Yusuf Olaolu Ali Foundation has donated 20,000 copies of customised exercise books to indigent students in Kwara and Osun.

Ali hails from Ifetedo in Osun and is also the chairman of the Governing Council of Osun State University and the chairman of the National Association of Private Universities.

Speaking during the presentation of 10,000 exercise books to the Kwara Commissioner for Tertiary Education, Science and Technology, Hajia Sa’adat Modibbo Kawu, and other

Bridge pupils

Femi Awopetu

N

ot everyone is born with a silver spoon. Some are not even born with a wooden spoon, let alone a silver or gold spoon. Those who are privileged to come from rich or middle-class families oftentimes have access to the basic amenities of life and have their needs provided without any level of struggle.

On the other hand, a child that is born into a poor or struggling home environment, finds himself or herself faced with tough setbacks and challenges. For these children, their hope for a brighter future begins with access to quality education. A network of nursery and primary schools in underserved communities in Lagos and Osun state, Bridge Nigeria provides life changing education and offers the platform that puts children on a pathway to future success, irrespective of their socio-economic background.

To overcome the unique challenges faced by the Nigerian school children, Bridge uses a teaching and learning approach that involves age-appropriate learning, by adapting to a child’s level of understanding, identifying the readiness of a child to learn, and then following the best suited methods of teaching. Consequently, this personable approach has led many pupils from low-income families to earn grades that mark highly even on a national standard.

As a matter of fact, some brilliant Bridge pupils from less privileged backgrounds have scored

top marks that have led to further educational opportunities. These include scoring near perfect scores at the national common entrance examination, and receiving scholarships to top secondary schools.

A visit to a typical Bridge community shows children who are faced with unique but related difficulties and whose lives are being transformed by the education at Bridge, giving them hope to look beyond their prevailing socioeconomic circumstances and dream of a better and brighter future.

Bridge pupil, Sebastian Pwaakadi , joined Bridge Rahimi Oyo Academy in Morogbo Badagry, after relocating to Lagos from Borno, in the north east part of the country. Unfortunately for Pwaakadi and her sister, Divine, their education was affected due to the insurgency, and so, they were out of school. A church member, Mrs. Veronica Okwolo, whose children attend the same school, introduced Pwaakadi’s parents to Bridge and enrolled them at the school, having witnessed the transformational education provided by the school to her children. According to Mrs. Okwolo, the Pwaakadi and Divine’s potential was wasting away and she had to support the family in her own little way before it became too late. She recounted how her daughter who is now in secondary school lacked self confidence and needed support before she joined Bridge and how she saw immediate impact within a year of enrolling her at Bridge.

According to the parent, Mr. Sebastian,

“Pwaakadi could not communicate effectively in English before she came to Lagos, even though she understands it. Now, her numeracy and literacy skills have really improved, she reads all by herself and does her homework herself. All thanks to Bridge teaching techniques”.

Another pupil, Bernice Daniel, a seven-year old primary two pupil whose mother is a petty trader had the opportunity to enrol Bernice at a Bridge Awelewa school in Obadore Akesan with the help of a church member after seeing her with the mother selling during a Bridge organised outreach programme. Now, Bernice is in school learning and hopes to become a doctor in future. Her mother had always wanted her children to be part of the life changing opportunity that bridge offers to the community and can never be grateful enough for the opportunity given to her daughter.

The once timid Bernice is now one of the top performers in her class, she oozes confidence and looks forward to going to school everyday and learning with her friends. With the team of qualified teachers and a supportive Bridge academy at her disposal, Bernice has been placed on the pathway of achieving her dreams and changing the narrative of her family.

Bridge provides all round support to the 46 Bridge nursery and primary schools located across Lagos and Osun state through a fullfledged support office team. Examples of the support range from the curriculum development and instructional design through learning innova-

tion and interventions by the academic team, to the oversight management of all the Bridge academies by the school team to drive learning outcomes while the learning and development team provides coaching support and continuous training for teachers to develop new skills to aid effective teaching and learning.

In addition, the operations team ensures that there are learning materials in the classrooms and pupils are learning in a conducive environment, the IT team also ensures the wireless technology being utilised at Bridge continues to deliver great results.

For instance, the Bridge teacher guides don’t just display lessons, they also record attendance and assessment scores and track lesson pacing and pupil comprehension in near real time. While the smartphone application allows academy managers to seamlessly sync their academy’s tablets, pupil and teacher attendance, tuition payments, instructional monitoring, and more.

Quality education helps individuals transcend their limitations. Opportunities that they never imagined before would now become possible.

It is through education that one can withstand the rigour of facing the challenges of life. As a result of the accelerated learning at Bridge, these children can now aspire to become doctors, engineers, scientists etc and look beyond their socio-economic limitations. This is only possible because of the life changing education at Bridge.

-Awopetu, a communications professional writes from Lagos

government officials in Ilorin at the weekend, Ali said the gesture was to complement the state’s efforts.”In education, the foundation awards annual scholarships to a specified number of students in Ilorin, Kwara state and Ifetedo Osun state. It has also built an e-resource centre, e-library and hostels in several higher institutions of learning.,” explained Kawu. “It also has an annual scholarship to pay the WAEC and NECO fees of 50 indigent students of Ibadan Boys’ High School in Ibadan and supports indigent Law students to settle part of their law school fees, to mention but a few.”

In addition, Kawu disclosed that the books would be distributed to rural areas in the state.

Federal Varsity Kashere to Admit 3,000 Students, Pegs Cut-off Mark at 150 Segun Awofadeji in Bauchi

With the reduction of its new JAMB cut-off mark required for admission from 160 to 150, Federal University Kashere, Gombe State is now set to admit over 3,000 students in the 2021/2022 academic session.

The Registrar, Alhaji Kabiru Garba Aminu, who disclosed this during a live radio progamme, “Bakonmu na Yau” hosted by Bauchi Radio Corporation, implored indigenes of the state wishing to pursue their undergraduate studies to strive to meet the basic requirements of the various institutions of their choice across the country.

The registrar explained that students from Bauchi State are considered for admission in the university either based on their merit or for being

in the catchment area and educationally less developed state categories.

He also announced the introduction of seven new courses in the university, which include Mass Communication, and called on interested students to take advantage of the newly introduced courses.

Garba said out of the over forty federal universities across the country, Federal University Kashere has been doing well in terms of student admission and academic research, which contribute to nation building.

On employment of new staff, the registrar explained that the institution is yet to commence new recruitment in all categories of its workforce.

He therefore cautioned the public not to be tempted by dubious characters who take advantage of unsuspecting individuals.

Education, Foundation to Greatness, Says Chinese Ambassador Michael Olugbode in Abuja

Chinese Ambassador to Nigeria, Mr. Cui Jianchun, has said education is the foundation of any great nation.

Speaking while presenting a cash gift to teachers and students of China-Assisted Model Primary School, Nyanya, Abuja, the ambassador said, “As we all know, education is the hope for the development of a country.

When the youth are educated, then the country is educated. When the youth are strong, then the country is strong.”

He added, “Looking around the world, those countries which are strong,

they are strong in education, which are advanced, they are advanced in education.

There is no exception.”

The ambassador, who also donated table tennis equipment, books, bags, and face masks to the school, said China cherished its friendship with Nigeria.

He recalled that the Chinese Embassy and Chinese companies in Nigeria built new classrooms, did maintenance work, and donated computers in the past.

The headteacher of the school, Mrs Jummai HarunaEtsu, lauded the Chinese embassy for its support.

Apollo ‘89 Holds Reunion Party, Plans Scholarship for Students

WEDNESDAY JANUARY 19, 2022 • T H I S D AY

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T H I S D AY ˾ WEDNESDAY JANUARY 19, 2022

CITYSTRINGS

Group Features Editor: Chiemelie Ezeobi Email chiemelie.ezeobi@thisdaylive.com, 07010510430

Enugu Community's Fight for the Soul of their Ancestral Land Ugwuoba Community in Enugu State is currently accusing the state government of plotting to hijack 88.9 hectares of their ancestral land within the 150 hectares by force, and appropriate said land, under the guise of developing Ibrahim Abacha Estate, reports David-Chyddy Eleke

A section of the Ugwuoba community land in dispute

U

gwuoba is a community in Oji River Local Government Area of Enugu State, with a common boundary with Anambra people at Amansea, Awka North Local Government Area of Anambra State.

The people of the community can best be described as more of Anambra indigenes than they are Enugu.

They relate with the people of Anambra far more than they do with their Enugu folks, and if they have need to leave the agrarian community for the city for anything, the people move southwards to Awka, the capital of Anambra State, than Northwards to Enugu City.

Unlike other border towns where they have boundary disputes with neighbouring states, the people of Ugwuoba do not have problem with their neighbours, but the current land tussle they are enmeshed in, is with their own state government, Enugu, through the Enugu state Housing Development Corporation.

Two villages in the community; Obinagu and Eziachi are accusing the Managing Director of Enugu State Housing Development Corporation, Mr Chiemerie Agu, of plot to seize their land, through what they call a bogus development plan for an estate, Ibrahim Abacha Estate. They however added that the plot was not to develop the area, but to sell off their ancestral land to strangers for development, leaving their sons with none.

It was tears of sorrow last week Tuesday and Thursday as elders of Obinagu and Eziachi Village, Ugwuoba community met separately in their village squares over their plight, while bitterly complaining of the plans of the Enugu State Housing Development Corporation to hijack their 88.9 hectares of ancestral land within the 150 hectares by force.

Elders of Obinagu, led by 96 years-old-old Boniface Igweze bemoaned the destruction of their properties worth several millions of naira including houses, cash crops, farm land and ancestral deities by the housing corporation in order to forcefully take over their Anioma Obinagu Ogboo land for a housing estate without their consent.

Addressing newsmen in Awka shortly after their village meeting to place ancestral curses on those bent on trespassing on their ancestral land, the elders in their 90's, 80's and 70’s appealed to the Enugu state Governor, Rt Hon Ifeanyi Ugwuanyi to use his office to call the Housing Development Corporation to order in the interest of peace and humanity.

96 years-old-old Boniface Igweze, an elder in the village who spoke on behalf of his people cried bitterly over plans by

Elders of Eziachi village in Ugwuoba community of Oji River Local Government Area of Enugu State, after a meeting at the town hall

the Enugu State Housing Development Corporation to hijack their 88.9 hectares of ancestral land by force.

“We have restrained our youths from engaging in violence over the ownership of the land because we believe in lawful pursuits and the Governor’s understanding and intervention for peaceful resolution. We appeal to Governor Ugwuanyi to call the Enugu State Housing Development Corporation Managing Director, Mr Chimerie Agu and all his cohorts to order as their insensitivity has stretched our patience, hence our resolution to hand over the battle to the gods of our land, aside continued pursuit of the case through all lawful means.”

The community appealed to Governor Ugwuanyi to use his offices to call the Housing Development Corporation to order in the interest of peace, while urging developers who may have benefited from the land to desist from erecting structures on it, to avoid forfeiture. The community said if after 14 days, Governor Ugwuanyi refuses to intervene as a father and governor of the state, there may be a breakdown of law and order.

Other elders of the community who joined Igweze in the protest included Kenneth Nwangwu, 95years; Dominic Anochili, 92 years; Chukwuma Ndibe 85 years; as well as Pius Madubuchi 75, Chief Daniel Okeke, 79; David Ndubuisi 70 and Chief Samuel Nnebeife 67 among others.

They said they have restrained their youths from engaging in violence over the ownership of the land because they believed in lawful pursuits and the Governor’s understanding and intervention for peaceful resolution.

Meanwhile, in Eziachi village, elders are also protesting the near forceful collection of their ancestral homes for an estate project. Barely one week after some elders of Obinagu Village bitterly complained to Governor

Ifeanyi Ugwuanyi, Eziachi joined the fray, accusing the same Enugu State Housing Development Corporation of land grabbing and contempt.

Eziachi village led by the oldest man in Ugwuoba Community, (Otuchalu Ugwuoba) Chief Emeka Tagbo alongside other elders decried the bad image the leadership of Enugu State Housing Development Corporation led by the Managing Director, Mr Chimerie Agu is causing the governor, by grabbing land without due process.

110 years old Otuchalu Ugwuoba, Chief Tagbo wondered why Enugu State Housing Development Corporation should be rubbishing the good image of Governor Ugwuanyi by dabbling into communal land politics and constituting nuisance for the state government and the governor.

He said: We are asking the Enugu State Housing Development Corporation, which is destroying our farms, cash crops and properties worth several millions of Naira to stop forthwith as they have caused untold hardship and agony to so many families whose building projects on their lands have been truncated."

Chief Tagbo who addressed villagers in the company of the Chairman of Eziachi village, Prince Emmanuel Chukwu Nwokeabia; 95 years old Chief Atuba Nwammuo; and 85 years old Chief Nwachukwu Fidelis among others requested Governor Ugwuanyi to intervene in the numerous unnecessary land grabbing in Ugwuoba axis of Enugu State by instructing the Enugu State Housing Development Corporation to follow due process in acquiring land for its housing development, which he said nobody is against, adding that its modus operandi is totally condemnable.

"We want to know why communities who have no land in Eziachi village should hand over their ancestral land and that of other communities to Enugu State Housing Development

"We have restrained our youths from engaging in violence over the ownership of the land because we believe in lawful pursuits and the governor’s understanding and intervention for peaceful resolution. We appeal to Governor Ugwuanyi to call the Enugu State Housing Development Corporation Managing Director, Mr Chimerie Agu and all his cohorts to order"

Corporation and they went into development without recourse to the land owners and their neighbours who also have land in the 150 hectares Ibrahim Abacha Estate Ugwuoba.

The Ugwuoba oldest man told Governor Ugwuanyi to call them to a meeting to hear their side of the story with all documentary evidence, even as he reminded the governor that Agolo/Okpuno had no boundaries with them or their neighbours at Obinagu end, adding that the natural boundaries have been the stream/river. He wondered why the Enugu State Housing Development Corporation allowed itself to be deceived by the people of Agolo/Okpuno village.

"We don't know Enugu State Housing Development Corporation and Enugu state Housing Development Corporation doesn't know us. Our houses, cash crops, farm land , church building among others have been destroyed. The governor needs to intervene on this matter before it becomes something else," Chief Tagbo concluded in tears.

Also, the Chairman of Eziachi village, Prince Emmanuel Chukwu Nwokeabia said his village gave no government agency any land and should be spared of the embarrassing scenario, harassment, intimidation and mental torture by meeting the community for a peaceful resolution of the imbroglio.

"We wondered why the Enugu state Housing Development Corporation MD, Mr Chiemerie Agu will be conniving with people outside our village to sell our village land to the extent of chasing us away forcefully from our aboriginal land.

"Why is the Enugu State Housing Development Corporation bent on forcing us to leave our land ? They want us to abandon our houses and run. They are not considering that we have houses there.

But, it's not feasible unless they want to spill our blood by killing us. They want our children homeless. The case is in court, even when the MD Housing is claiming they have been settled. Governor Ugwuanyi should investigate how MD Housing Development Corporation settled our people of Eziachi. Why is MD Housing Development Corporation creating bad blood for the government of Enugu state?"

THISDAY's attempts to speak to the MD of the development corporation, Mr Agu proved abortive. Calls to his mobile lines were not answered, but a statement credited to him, which was made available to journalists accused few elders of the communities involved of attempt to frustrate development in the area by inciting others against the government. He urged all to discountenance the protest.

35

T H I S D AY ˾ WEDNESDAY JANUARY 19, 2022

CRIME&SECURITY

Oregun's Illegal Bunkering Depot and Arrest of Economic Saboteurs Chiemelie Ezeobi writes that the gains of Operation AWATSE, a joint taskforce established to tackle the menace of pipeline vandalism, were again brought to the fore when the 9 Bridage of the Nigerian Army unearthed an illegal bunkering depot at the Oregun area of Lagos. Five suspects were arrested while four petroleum tankers and five ford vans with stolen products worth N300million recovered

Two of the vans with the locally fabricated tanks for storage of stolen petroleum products

W

hen Operation AWATSE was set up in 2014, it was targeted at curbing the menace of pipeline vandalism in the South-west region. Set up as a Joint Task Force (JTF), it comprises the Nigerian Navy, the Nigerian Army, that Nigerian Air Force, the Department of State Services and the National Security and Civil Defence Corps (NSCDC).

An Hausa word for ‘Scatter’, the operation recorded so many successes and it was taken over by the Defence Headquarters and its initial mandate, which was the protection of NNPC pipelines and infrastructure along 72km stretch of pipelines from Atlas Cove to Mosimi Depot, was expanded to include security of Epe and Ogun Waterside in Lagos and Ogun States, respectively as well as anti-kidnapping, anti-robbery and related criminal activities.

Recently, its gains were again brought to the fore when the 9 Brigade of the Nigerian Army has uncovered an illegal oil bunkering depot in Oregun, Lagos, where siphoned stolen crude oil is refined and transported to willing buyers.

The army also arrested five persons, just as they recovered four tankers loaded with the stolen refined products and five ford vans.

Parading the suspects in Ikeja, the Operations Officer, 9 Brigade, Major Tarela Emuren, said the arrest and recovery were made by operatives of Operation AWATSE, after an eight- hour raid operation at the illegal bunkering site on January 12, 2022.

He said: "Operation AWATSE, in line with its mandate has continued to curb the menace

The suspects with the tankers and vans filled with stolen petroleum products of pipeline vandalism, oil theft and illegal bunkering activities within the South West Geopolitical Zone.

"In pursuant to this mandate, the force discovered an illegal oil bunkering depot around Oregun, Lagos and conducted a raid operation at the site.

"During the operation, which lasted for about eight hours, the troops arrested a total of five suspected illegal oil bunkerers and confiscate five Ford Vans. It will interest you to note that the Ford vans have been specially modified, without due recourse to safety, to accommodate locally fabricated tanks

for storage of stolen petroleum products. " Additionally, four tankers were also recovered at the illegal depot laden with suspected stolen products as well as several drums, hoses and other equipment used by these economic saboteurs.

"Beside the economic loss occasioned by the activities of these criminal, the safety concern is also worrisome. The location constitutes serious dangers to others law abiding residents within the community while their activities result in environmental degradation, pollution and heightens the risk of fire outbreak.

"Also, the crude modification of vehicles used in conveying these highly inflammable products constitute even greater dangers

to other unsuspecting road users in Lagos and other places the products may be transported to.

"The scale of economic sabotages orchestrated by this unscrupulous act is estimated to worth about 300 million naira. Regrettably, these activities have been ongoing for quite some time without the knowledge of relevant government agencies.

"Let me therefore use this opportunity to reiterate the commitment of Op AWATSE to curbing all oil related criminal activities within the South-west Geo-Political Zone.

"I therefore call on all law abiding citizens to join the fight against these unpatriotic elements amongst us by volunteering intelligence or information on suspicious activities observed within your localities.

"By this token, appropriate security agencies will be able to take actions to check some of these illegalities thus ensuring that the environment remains conducive for genuine businesses with compliance to relevant safety procedures.

"While we continue to pursue our mandate, we assure you that the joint force will continue to abide by all relevant code of conducts and ensure highest professional etiquette in the conduct of our operations as enshrined in our Standard Operating Procedures.

"However, the force will like to sternly warn those still engaged in this unwholesome practice to desist forthwith. We will not rest on our oars till all perpetrators of these heinous crimes are brought to book."

At the end, all five suspects and recovered exhibits were handed over to the NSCDC for further investigation and possible prosecution.

National Defence College Gets New Commandant

T

he National Defence College (NDC) on Thursday January 13, 2022 witnessed the Change of Baton between Rear Admiral Oladele Bamidele Daji and Rear Admiral Murtala Mormoni Bashir.

Rear Admiral Bashir took over the headship of the college following the retirement of the immediate past commandant, Rear Admiral OB Daji from the service after selfless service to the nation.

Rear Admiral MM Bashir until his appointment as NDC Commandant, was the Commandant Naval War College Nigeria located in Calabar.

Reeling out his resume, the College PRO, Commander Chinwe Umar said the commandant "is a member of 38 regular Course of the Nigerian Defence Academic (NDA) Kaduna.

"The Admiral has attended several military and civil courses during the course of his career. Notably among them are the Junior and Senior Staff Course at the prestigious Armed Forces Command and Staff College Jaji Kaduna.

"He was also at the National Defence University Islamabad Pakistan.

Admiral Bashir holds a Master Degree in International Affairs and Diplomacy, Security and War Studies.

"The senior officer has served in several capacities, some of which includes Directing Staff at Armed Forces Command and Staff College Jaji, Assistant Director of Operations NHQ, Naval Assistant to the Chief of Naval Staff, Deputy Director Combat Tactics NHQ, Commanding officer

Nigerian Navy Ship Ekun, Deputy Director Recruitment, Reserved and Resettlement NHQ, Directing Staff at National Defence College Abuja, Director Curriculum and Program Development at National Defence College Abuja, Chief Staff Officer Western Naval Command Lagos. " Admiral Bashir has the following awards and decorations, Distinguished Service Star, Pass Staff Course Dagger, Fellow Defence College Dagger.

"Until his appointment as the Commandant Naval War College Nigeria on the 15 March 2021, he was the Director of Operations at the NHQ. "The senior officer enjoys playing football and reading. He is married and the union is blessed with five children."

Rear Admiral Bashir

36

T H I S D AY ˾ ˜ JANUARY 19, 2022

BUSINESS/MONEYGUIDE

Cattle Encroachment: Leadway Assurance Extends Agric-insurance Cover to Farmers

Ebere Nwoji

Leadway Assurance has extended its flagship agric-insurance cover to crop farmers for losses incurred due to cattle grazing encroachment into their farmlands.

The company said this unique and timely policy is in response to the plight of farmers who have suffered huge financial losses arising from the destruction of their crops and farmlands during encroachment by nomadic cattle.

According to the Head, Agric and Micro Insurance, Leadway Assurance, Mr Ayoola Fatona, the extended policy coverage will encourage continued investments in farming to prevent nationwide food security.

“As a leading risk bearer and insurance service provider especially for the agribusiness sector, we aim to provide topnotch service, satisfy our esteem farmers, agribusiness investors

with our dynamic, bespoke and comprehensive insurance solutions. The call by farmers for us to extend insurance cover to include the risk of cattle encroachment has been growing over the years, and in our usual characteristic manner of responding to the needs of our customers, we decided to cover the peril of cattle encroachment as an extension to our existing crops policy.

“Our existing crops policy covers farmers at the time of loss, mostly against natural perils like flood, drought, windstorm, prolonged dry spell etc. The farmers who suffer losses relating to animal encroachment would get compensated with the deployment of this exemplary risks management tool. It is a win-win solution for the farming ecosystem and the food consuming population in Nigeria. With this audacious step, there is no gainsaying that Leadway Assurance is poised to

make farming an endeavour that bears peace of mind, despite the increasing famers-herders’ conflicts that dominate the agricultural sector in Nigeria today, “Fatona added. Fatona, said the extended Leadway Multi-peril Crop Insurance Product is a policy that provides financial recovery for farmers who suffer losses relating to domestic animal encroachment by herders invading a farm and causing destruction or reduction in the value of crops.

He therefore, advised crop farmers in Nigeria to get in touch with Leadway Assurance Company Limited on how to access this additional insurance solution.

Leadway Assurance is one of Nigeria’s insurance company with a reputation for service efficiency and customer reliability.

The firm said it was committed to bridging the financial protection gap and increasing the insurance penetration rate in Nigeria.

LIRS Gives Employers January Deadline to File Tax Returns The Lagos State Internal Revenue Service (LIRS) has reminds businesses and employers of labour of their statutory obligation to file annual income tax returns pursuant to section 81 (2) of the Personal Income Tax Act (PITA) Cap P8 LFN 2004 (as amended).

The Act, according to a statement, stipulates January 31st as the deadline for filing of annual income tax returns, failing which penalty accrues.

The Executive Chairman of Lagos State Internal Revenue Service, Mr. Ayodele Subair in the statement urged all businesses and employers of labour resident within Lagos State, to file their annual income tax returns on

or before January 31, 2022, “to avoid payment of penalties as well as other statutory sanctions.”

“The only available platform for filing of annual income tax returns in Lagos State is the LIRS e-Tax portal: https://etax. lirs.net. The e-Tax portal is built for convenience of taxpayers, is easy, convenient and safe. All businesses and employers of labor are advised to use the e-Tax portal to file their returns.

“Taxpayer ID of all employees is compulsory for the annual income tax returns to be successful filed on the e-Tax portal.

Therefore, all employees and taxable persons within the State are advised to generate a taxpayer ID (where applicable) and file their individual annual income

tax returns on the e-Tax portal.

As part of the Agency’s quest to ease compliance obligations for taxpayers, it has designated some staff at its various offices to assist taxpayers with using the e-Tax portal and other filing related issues, “it stated.

It added, “For more information or any inquiries, taxpayers are enjoined to visit our website: www.lirs.gov.ng, follow us on our various social media platforms: @lirsgovng, email: etaxinfo@lirs. net or call the LIRS customer care hotline: 0700CALL LIRS (0700-2255-5477).

“Taxpayers are advised to stay safe and adhere to all Covid-19 guidelines as stipulated by the Lagos State Government and the relevant health authorities.”

MARKET INDICATORS MONEY AND CREDIT STATISTICS

(MILLION NAIRA)

JANUARY 2021 Money Supply (M3)

38,779,455.43

-- CBN Bills Held by Money Holding Sectors

1,039,129.55

Money Supply (M2)

37,740,325.88

-- Quasi Money

21,779,302.69

-- Narrow Money (M1)

15,961,023.19

---- Currency Outside Banks

2,364,871.13

---- Demand Deposits

13,596,152.06

Net Foreign Assets (NFA)

7,414,275.50

Net Domestic Assets(NDA)

31,365,179.93

-- Net Domestic Credit (NDC)

42,916,586.63

---- Credit to Government (Net)

12,304,773.44

---- Memo: Credit to Govt. (Net) less FMA

0.00

Nigerian Tech Entrepreneur Appointed to Lead UK-Africa Trade Ties

---- Memo: Fed. and Mirror Accounts (FMA)

0.00

---- Credit to Private Sector (CPS)

30,611,813.19

Sunday Okobi

--Other Assets Net

3,892,112.74

Reserve Money (Base Money

13,264,585.14

A Nigerian tech entrepreneur, Joel Popoola, has been appointed to head the task force to improve trading ties between Africa and the United Kingdom.

Popoola, a digital democracy campaigner and the creator of the Rate Your Leader app, is to lead a Special Interest Group for Africa established by the UK Institute of Directors (IoD)-one of the world’s oldest and most prestigious business leader groups According to him, the IoD Africa SIG will stimulate business opportunities, increase networking, and grow awareness of British businesses in Africa and African businesses in Britain.

The IoD Africa SIG will be launched in London on May 19,

2022, with all African diplomatic missions and some heads of state expected to attend.

In a statement, he stated that prior to the launch, serious bi-monthly online roundtables would be held to discuss postCOVID-19 and Brexit business opportunities for UK and African businesses.

The UK Government has already negotiated eight free trade agreements with African countries and trading blocs since Brexit, creating tariff and duty-free trade between Britain and 30 African nations-this means significant opportunities for African consumers and companies, not least in 24 English speaking countries.

Popoola in the statement said: “One UK parliamentary report recently noted that UK-

Africa trade has ‘flat-lined’ and accounts for just 2.5 percent of all UK trade. But before the COVID-19 outbreak, the world’s five fastest-growing economies were all African, and regional leaders like South Africa and Nigeria are likely to become superpowers of the global economy as we move towards the second half of this century.

More needs to be done on both sides to take advantage of the opportunities on offer.

“As one of the world’s most influential and established business leader forums with royal endorsement dating back to 1906, the Institute of Directors is the ideal forum to develop opportunities for UK-based firms that want to establish and grow new business in Africa and vice versa.

LADOL Retains ISO Certifications LADOL Free Zone, LADOL has once again renewed and retained its International Organization for Standardization, ISO 45001:2018+14001:2015 certifications.

The certifications are part of the company’s efforts to continuously improve its management System of Occupational Health and Safety, OH&S and Environment Management System, EMS to meet and beat international best practices and it is arguably the first in West Africa at the time the company obtained its initial

certification.

ISO 45001:2018 is for Occupational Health and Safety (OH&S), published in March 2018, while 14001:2015 is for Environment Management System Retaining the certifications was achieved after a rigorous and transparent audit process conducted by four (4) Internationally recognized audit professionals.

Besides demonstrating LADOL’s unalloyed resolve to protect the environment from

any negative impact that may arise from its operations and preventing work-related harm on LADOL’s employees, these global certifications affirm the organization’s determination to consistently comply with laws, regulations, relevant codes and applicable international convention including the UN 17 SDGs and the UN global Compact. This audit also took note of LADOL’s commitment to sustainability, including the fact that LADOL joined the UN Global Compact and the UN CFO Taskforce in 2021.

--Currency in Circulation

2,831,167.19

--Banks Reserves --Special Intervention Reserves

10,433,417.96 317,234.17

˾ ÙßÜÍÏ ̋

Money Market Indicators (in Percentage) Month

March 2018

Inter-Bank Call Rate

15.16

Minimum Rediscount Rate (MRR) Monetary Policy Rate (MPR)

14.00

Treasury Bill Rate

11.84

Savings Deposit Rate

4.07

1 Month Deposit Rate

8.82

3 Months Deposit Rate

9.72

6 Months Deposit Rate

10.93

12 Months Deposit Rate

10.21

Prime Lending rate

17.35

Maximum Lending Rate

31.55

˾ ÙØÏÞËÜã ÙÖÓÍã ËÞÏ ̋ ͯͱϱ

OPEC DAILY BASKET PRICE AS AT THURSDAY, OCTOBER 7

The OPEC Reference Basket of Crudes (ORB) is made up of the following: Saharan Blend (Algeria), Girassol (Angola), Djeno (Congo), Zafiro (Equatorial Guinea), Rabi Light (Gabon), Iran Heavy (Islamic Republic of Iran), Basra Light (Iraq), Kuwait Export (Kuwait), Es Sider (Libya), Bonny Light (Nigeria), Arab Light (Saudi Arabia), Murban (UAE) and Merey (Venezuela).

37

T H I S D AY ˾ ˜ ͯͷ˜ ͰͮͰͰ

Stock Market Up N138bn on Price Appreciation in BUA Foods, Dangote Kayode Tokede The Nigerian Exchange (NGX) Al-Share Index (ASI) yesterday rebounded by N138billion amid renewed price appreciation in medium and large capitalised stocks, amongst which are, BUA Foods, BUA Cement, Dangote Sugar Refinery, Conoil and and Skyway Aviation handling Company.

The NGX All Share Index (ASI) grew by 256.23 basis points or

0.58 per cent to close at 44,655.89 basis points, while the overall market capitalisation value gained N138 billion to close at N24.060 trillion.

Performance across sectors was broadly positive as four out of our five coverage indices – Banking (+1.0 per cent), Industrial Goods (+0.8 per cent), Consumer Goods (+0.7per cent), and Oil & Gas (+0.3 per cent) indices – closed in the green. The Insurance (-1.6 per cent) index was the sole loser.

P R I C E S MAIN BOARD

F O R

DEALS

As measured by market breadth, market sentiment was positive as 27 stocks gained relative to 13 losers. Skyway Aviation handling Company recorded the highest price gain of 10 per cent to close at N5.83, per share.

Courteville Business Solutions followed with a gain 8.57 per cent to close at 38 kobo, while FTN Cocoa Processors up by 8.33 per cent to close at 39 kobo, per share.

Dangote Sugar Refinery rose by 7.35 per cent to close at N18.25,

S E C U R I T I E S

MARKET PRICE

QUANTITY TRADED

VALUE TRADED ( N )

while Berger Paints appreciated by 5.84 per cent to close at N8.15, per share. On the other hand, NEM Insurance led the losers’ chart by 8.33 per cent to close at N3.63, per share. SUNU Assurance followed with a decline of 5.88 per cent, to close at 32 kobo, while Regency Alliance Insurance depreciated by 4.26 per cent to close at 45 kobo, per share.

Sovereign Trust Insurance declined by four per cent to close at 24 kobo, while Wapic Insurance

T R A D E D MAIN BOARD

A S

depreciated by 3.92 per cent to close at 49 kobo, per share. The total volume traded increased by 9.8 per cent to 235.234 million units, valued at N1.918 billion, and exchanged in 4,151 deals.

Transactions in the shares of Transnational Corporation of Nigeria (Transcorp) topped the activity chart with 38.105 million shares valued at N40.126 million.

Guaranty Trust Holding Compnay (GTCO) followed with 18.730 million shares worth N476.490

O F

million, while Jaiz Bank traded 14.987 million shares valued at N9.819 million.

Ecobank Transnational Incorporated (ETI) traded 14.494 million shares valued at N126.344 million, while FBN Holdings (FBNH) transacted 13.419 million shares worth N161.061 million.

According to analysts at InvestmentOne research: “The equities market northwards due to the gains printed across major sectors.

1 8 / 1 / 2 0 2 2 DEALS

MARKET PRICE

QUANTITY TRADED

VALUE TRADED ( N)

38

WEDNESDAY, ͹΁˜ ͺ͸ͺͺ ˾ T H I S D AY

Wednesday, January 19, 2022

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1,840.06

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1,050.50

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190.00

0.0%

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179.2%

14.1%

71.40

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19.1%

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6 Dangote Cement PLC 7 Nestle Nigeria PLC

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8 FBN Holdings Plc 9 Lafarge Africa PLC

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ƚƌĂĚĞĚ ĚĞĐůŝŶĞĚ ďLJ Ϯϭ͘ϲй ƚŽ ϭϭϬ͘ϴŵ ƵŶŝƚƐ ǁŚŝůĞ

ǀĂůƵĞ

ƚƌĂĚĞĚ ƌŽƐĞ ďLJ ϴϴ͘ϱй ƚŽ േϯ͘ϭďŶ͘ dŚĞ ŵŽƐƚ ƚƌĂĚĞĚ ƐƚŽĐŬƐ DŝdžĞĚ ^ĞĐƚŽƌ WĞƌĨŽƌŵĂŶĐĞ

ďLJ ǀŽůƵŵĞ ǁĞƌĞ dZ E^ KZW ;ϭϭ͘ϵŵ ƵŶŝƚƐͿ͕ & E, ;ϭϭ͘ϭŵ ĐƌŽƐƐ ƐĞĐƚŽƌƐ ǁŝƚŚŝŶ ŽƵƌ ĐŽǀĞƌĂŐĞ͕ ƉĞƌĨŽƌŵĂŶĐĞ ǁĂƐ ƵŶĞǀĞŶ ĂƐ

20.8x

5.5%

7.3%

34.3x

6.5x

3.9x

1.0x

11.8%

25.9% 28.7%

2.9%

25.70

0.8%

6.3%

2.2%

2.2%

20.9%

2.8%

3.5x

0.7x

11.7%

270.00

0.0%

4.8%

5.1%

5.1%

40.4%

16.7%

13.4x

5.2x

5.9%

7.5%

1,435.00

0.0%

3.4%

-7.8%

-7.8%

106.8%

15.6%

27.8x

32.8x

4.2%

3.6%

8.4%

0.8%

7.1x

0.6x

3.7%

14.1%

11.6%

8.4%

9.5x

1.1x

3.9%

10.5%

10 Access Bank PLC 11 United Bank for Africa PLC

9.70

2.1%

2.9%

4.3%

4.3%

17.0%

1.4%

2.7x

0.4x

8.8%

36.8%

8.15

0.0%

2.3%

1.2%

1.2%

19.5%

1.8%

2.0x

0.4x

6.7%

48.8%

12 Stanbic IBTC Holdings PLC 13 Nigerian Brew eries PLC

37.00

0.0%

1.7%

2.8%

2.8%

15.4%

2.0%

8.5x

1.4x

11.4%

11.8%

47.30

0.0%

1.6%

-5.4%

-5.4%

5.3%

1.9%

43.6x

2.3x

2.3%

2.3%

14 SEPLAT Energy PLC 15 Ecobank Transnational Inc

690.00

0.0%

1.7%

6.2%

6.2%

3.4%

1.9%

15.9x

0.6x

6.0%

6.3%

9.00

3.4%

1.5%

3.4%

3.4%

14.8%

0.9%

2.5x

4.95

0.0%

1.2%

0.0%

0.0%

-10.3%

-3.9%

142.00

0.0%

1.1%

0.0%

0.0%

38.8%

25.2%

9.7x

3.4x

5.2%

10.3%

28.30

0.2%

1.0%

-0.2%

-0.2%

16.4%

5.1%

4.4x

0.7x

5.8%

22.9%

2.70

1.9%

0.7%

5.9%

5.9%

12.0%

1.1%

2.4x

0.3x

8.1%

41.9%

2.31

0.0%

0.6%

-0.4%

-0.4%

9.7%

3.0%

6.2x

0.7x

9.5%

16.2%

18.25

7.4%

0.5%

4.9%

4.9%

15.3%

6.3%

12.0x

1.8x

8.2%

8.4%

3.05

0.3%

0.5%

2.0%

2.0%

10.0%

1.0%

0.3x

5.0%

16 International Brew eries PLC 17 Okomu Oil Palm PLC

ďĞĂƌŝƐŚ ĂƐ ϰ ŝŶĚŝĐĞƐ ůŽƐƚ͕ ϭ ŝŶĚĞdž ŐĂŝŶĞĚ ǁŚŝůĞ ƚŚĞ &ZͲ/ d E D ;Ͳϴ͘ϯйͿ͕ t W/ ;Ͳϯ͘ϵйͿ ĂŶĚ t W K ;ͲϬ͘ϰйͿ͘ ŝŶĚĞdž ƌĞŵĂŝŶĞĚ ŇĂƚ͘ dŽƉƉŝŶŐ ƚŚĞ ůĂŐŐĂƌĚƐ ĂƌĞ ƚŚĞ ŽŶƐƵŵͲ

ŽīƐ ŝŶ K E K ;ͲϬ͘ϴйͿ͕ E/d, ;ͲϬ͘ϮйͿ͕ ĂŶĚ 'd K ;ͲϬ͘ϮйͿ͘

13.7x

5.3%

26 NEM Insurance PLC 27 Presco PLC

ϴ͘ϯйͿ͕ ^hEh ^^hZ ;Ͳϱ͘ϵйͿ͕ ĂŶĚ Z ' >/E^ ;Ͳϰ͘ϯйͿ ůĞĚ ĚĞĐůŝŶĞƌƐ͘ tĞ

16.6%

6.5%

ĐƌŽƐƐ ƐĞĐƚŽƌƐ ƵŶĚĞƌ ŽƵƌ ĐŽǀĞƌĂŐĞ͕ ƉĞƌĨŽƌŵĂŶĐĞ ǁĂƐ

ĂŶĚ E'^h' Z ;нϳ͘ϰйͿ ůĞĚ ŐĂŝŶĞƌƐ ǁŚŝůĞ E D ;Ͳ ŝŶŐ ŝŶĚŝĐĞƐ ĨĞůů ďLJ Ϭ͘Ϯй ĂŶĚ ϮďƉƐ ƌĞƐƉĞĐƟǀĞůLJ ĚƵĞ ƚŽ ƐĞůůͲ

1.7%

5.3%

ĐŽƵŶƚ ŽĨ ŐĂŝŶƐ ŝŶ h &KK ^ ;нϰ͘ϮйͿ͕ E'^h' Z ;нϳ͘ϰйͿ͕ d ZE ĞĂƌŝƐŚ ^ĞĐƚŽƌ WĞƌĨŽƌŵĂŶĐĞ

ŐĂŝŶĞĚ ĂŐĂŝŶƐƚ ϭϯ ůĂŐŐĂƌĚƐ͘ KhZds/>> ;нϴ͘ϲйͿ͕ &dE K K ;нϴ͘ϯйͿ͕ ĂŶĚ D E^ Z ;ͲϮ͘ϮйͿ͘ ^ŝŵŝůĂƌůLJ͕ ƚŚĞ Kŝů Θ 'ĂƐ ĂŶĚ ĂŶŬͲ

5.4%

6.5%

24 Guinness Nigeria PLC 25 Transnational Corp of Nigeria

ϵ͘ϭйͿ͕ hE/> s Z ;Ͳϯ͘ϱйͿ͕ ƚŽ >/E< ^^hZ ;Ͳϲ͘ϰйͿ͕ ;ĂĚǀĂŶĐĞͬĚĞĐůŝŶĞ ƌĂƟŽͿ͕ ƐƚƌĞŶŐƚŚĞŶĞĚ Ϯ͘Ϭdž ĨƌŽŵ Ϭ͘ϳdž ĂƐ Ϯϲ ƐƚŽĐŬƐ

0.8x ot Applicable

3.7%

22 FCMB Group Plc 23 United Capital PLC

ĐƌŽƐƐ ƐĞĐƚŽƌƐ /ŶǀĞƐƚŽƌ ƐĞŶƟŵĞŶƚ͕ ĂƐ ŵĞĂƐƵƌĞĚ ďLJ ŵĂƌŬĞƚ ďƌĞĂĚƚŚ

5.2x

Divindend Earnings Yield Yield

3.6%

'ŽŽĚƐ ĂŶĚ Kŝů Θ 'ĂƐ ŝŶĚŝĐĞƐ ƌŽƐĞ Ϭ͘ϳй ĂŶĚ Ϭ͘ϯй ƌĞƐƉĞĐƟǀĞůLJ ŽŶ ĂĐͲ

ϭ͘Ϯй ƌĞƐƉĞĐƟǀĞůLJ ŽŶ ƚŚĞ ďĂĐŬ ŽĨ ƉƌŽĮƚͲƚĂŬŝŶŐ ŝŶ E ^d> ;Ͳ

P/BV

0.0%

20 AXA Mansard Insurance PLC 21 Dangote Sugar Refinery PLC

Ğƌ 'ŽŽĚƐ ĂŶĚ /ŶƐƵƌĂŶĐĞ ŝŶĚŝĐĞƐ͕ ĚŽǁŶ ϰ͘ϲй ĂŶĚ /ŶǀĞƐƚŽƌ ƐĞŶƟŵĞŶƚ ƐƚƌĞŶŐƚŚĞŶƐ

P/E

-0.4%

dŚĞ ĂŶŬŝŶŐ ŝŶĚĞdž ůĞĚ ƚŚĞ ŐĂŝŶĞƌƐ͕ ƵƉ ϭ͘Ϭй͕ ĚƵĞ ƚŽ ƵƉƐǁŝŶŐ ŝŶ ƉƌŝĐĞƐ E' D ;േϭϰϱ͘ϬŵͿ͕ ĂŶĚ 'd K ;േϭϯϰ͘ϴŵͿ ůĞĚ ďLJ ǀĂůƵĞ͘

'ŽŽĚƐ ŝŶĚŝĐĞƐ ĚŝƉƉĞĚ ϭ͘ϲй ĂŶĚ ϮďƉƐ ƌĞƐƉĞĐƟǀĞůLJ ŽŶ ƉƌŝĐĞ ĚĞĐůŝŶĞ ŝŶ

ROA

25.50

ϯ ŝŶĚŝĐĞƐ ĂĚǀĂŶĐĞĚ͕ Ϯ ;ϳ͘ϯŵ ůŽƐƚ ǁŚŝůĞ ƚŚĞ ǁŚŝůĞ &ZͲ/ d ŝŶĚĞdž ĐůŽƐĞĚ ŇĂƚ͘ ƵŶŝƚƐͿ͕ ĂŶĚ K E K ƵŶŝƚƐͿ E ^d> ;േϮ͘ϮďŶͿ͕

;нϱ͘ϴйͿ ĂŶĚ KEK/> ;нϯ͘ϭйͿ͘ ŽŶǀĞƌƐĞůLJ͕ ƚŚĞ /ŶƐƵƌĂŶĐĞ ĂŶĚ /ŶĚƵƐƚƌŝĂů

ROE

12.00

18 Flour Mills of Nigeria PLC 19 Fidelity Bank PLC

ŽĨ 'd K ;нϭ͘ϰйͿ ĂŶĚ ^^ ;нϮ͘ϭйͿ͘ dƌĂŝůŝŶŐ͕ ƚŚĞ ŽŶƐƵŵĞƌ

Price Change Index to Date

Ticker

1 Airtel Africa PLC 2 MTN Nigeria Communications PLC 3 BUA Cement Plc

WƌĞǀŝŽƵƐ ƉƌŝĐĞ ƵƉƟĐŬ ;нϮ͘ϬйͿ͕ ŝŶ 'd K ,KEz&>KhZ ƉŽŝŶƚƐ͕ ďƵŽLJĞĚ ĚĂLJ͕ ďLJ ŐĂŝŶƐ ŝŶ h D Ed ;нϭ͘ϰйͿ͕

Previous Price Current Price Change Weighting Change YTD

Current Price

0.3x

40.4%

0.9x

-11.5%

11.15

0.0%

0.4%

12.6%

12.6%

2.5x

6.3%

42.20

0.0%

0.4%

8.2%

8.2%

8.1%

3.8%

15.0x

1.2x

1.1%

6.7%

1.06

-1.9%

0.4%

10.4%

10.4%

11.1%

2.3%

5.6x

0.6x

1.0%

17.8%

35.6%

18.5%

3.6x

0.9x

5.0%

27.6%

2.1x

1.2% 3.0%

3.63

-8.3%

0.3%

-19.3%

-19.3%

87.80

0.0%

0.3%

0.0%

0.0%

28 NASCON Allied Industries PLC 29 AIICO Insurance PLC

13.10

0.0%

0.3%

-0.8%

-0.8%

21.3%

6.9%

12.3x

2.5x

0.80

1.3%

0.3%

14.3%

14.3%

7.2%

1.1%

444.4x

0.8x

30 TotalEnergies Marketing Nigeri 31 Custodian and Allied Insurance

221.90

0.0%

0.3%

0.0%

0.0%

46.2%

9.3%

5.0x

2.0x

1.8%

19.8%

7.25

1.4%

0.2%

-8.2%

-8.2%

24.7%

7.5%

3.6x

0.9x

7.6%

28.0%

32 Vitafoam Nigeria PLC 33 Unilever Nigeria PLC

21.00

0.0%

0.2%

-6.7%

-6.7%

36.8%

14.7%

6.1x

2.1x

7.1%

16.5%

13.20

0.0%

0.2%

-9.0%

-9.0%

-1.3%

-0.8%

34 Julius Berger Nigeria PLC 35 Union Bank of Nigeria PLC

22.80

0.0%

0.2%

2.0%

2.0%

20.7%

2.5%

4.0x

0.7x

1.7%

25.2%

4.5%

15.8%

8.1% 0.2%

1.2x

-1.1%

5.60

-0.9%

0.1%

-5.1%

-5.1%

7.1%

0.8%

6.3x

0.6x

36 Oando PLC 37 Wema Bank PLC

4.75

0.0%

0.0%

7.5%

7.5%

14.5%

2.6%

2.0x

0.3x

0.87

-2.2%

0.1%

20.8%

20.8%

13.7%

0.8%

4.1x

0.5x

4.6%

38 Sterling Bank PLC 39 Notore Chemical Industries Ltd 40 Transcorp Hotels Plc

1.57

1.3%

0.1%

4.0%

4.0%

10.1%

0.9%

3.4x

0.3x

3.2%

62.50

0.0%

0.1%

0.0%

0.0%

-41.3%

-9.2%

5.38

0.0%

0.0%

0.0%

0.0%

48.9%

2.3x

24.4% 29.3% -20.3%

0.9x

ĂŶƟĐŝƉĂƚĞ ƚŚĞ ŵŝůĚ ďƵLJŝŶŐ ƉƌĞƐƐƵƌĞ ƚŽ ƉĞƌƐŝƐƚ ŝŶ ƚŽĚĂLJΖƐ ƚƌĂĚŝŶŐ ƐĞƐͲ

ŽŶǀĞƌƐĞůLJ͕ ƚŚĞ /ŶĚƵƐƚƌŝĂů 'ŽŽĚƐ ŝŶĚĞdž ǁĂƐ ƚŚĞ ůŽŶĞ ŐĂŝŶͲ Ğƌ͕

ƵƉ

ϭ͘ϴй

ĚƌŝǀĞŶ

ďLJ

ƉƌŝĐĞ

ĂƉƉƌĞĐŝĂͲ

ƟŽŶ ŝŶ E' D ;нϯ͘ϯйͿ͘ ŽƌƉŽƌĂƚĞ ŝƐĐůŽƐƵƌĞ

zĞƐƚĞƌĚĂLJ͕ h &ŽŽĚƐ ƉƵďůŝƐŚĞĚ ŝƚƐ ƵŶĂƵĚŝƚĞĚ ƌĞƉŽƌƚ ĨŽƌ ϵ ŵŽŶƚŚƐ /ŶǀĞƐƚŽƌ ^ĞŶƟŵĞŶƚ ^ƚƌĞŶŐƚŚĞŶƐ ĞŶĚĞĚ ϯϬƚŚ ^ĞƉƚĞŵďĞƌ ϮϬϮϭ͘ ĐĐŽƌĚŝŶŐ ƚŽ ƚŚĞ ƌĞƉŽƌƚ͕ ƚŽƚĂů ƚƵƌŶŽǀĞƌ

T o p 10 T r a d e s b y V o l u m e

T o p 10 G a i n e r s

ƐŝŽŶ͘

T ic k er

T ic k er

Vo lum e

P ric e C hg %

P ric e

P ric e C hg %

C OUR T VILLE

0.38

8.6%

T R A N SC OR P

38.1

F T N C OC OA

0.39

8.3%

GT C O

18.7

1.4%

D A N GSUGA R

18.25

7.4%

J A IZ B A N K

15.0

0.0%

B ER GER

8.15

5.8%

ET I

14.5

3.4%

ET ER N A

6.35

5.8%

FB NH

13.4

0.0%

-1.9%

ƌŽƐĞ ϲ͘ϴй LJͬLJ ƚŽ േϳϵ͘ϳďŶ ŝŶ ƚŚĞ ƉĞƌŝŽĚ ŽŶ ƚŚĞ ďĂĐŬ ŽĨ Ă ϭϱϮ͘ϲй ƐƵƌŐĞ

B UA F OOD S

64.40

4.2%

F ID ELIT YB K

12.7

1.9%

ŝŶ ƐĂůĞƐ ŽĨ EŽŶͲĨŽƌƟĮĞĚ ƐƵŐĂƌ ;ϳϮ͘Ϯй ŽĨ ƚƵƌŶŽǀĞƌͿ͘ EŽŶĞƚŚĞůĞƐƐ͕

M B EN EF IT

0.26

4.0%

UB A

10.8

0.0%

;ĂĚǀĂŶĐĞͬĚĞĐůŝŶĞ ƌĂƟŽͿ͕ ƐƚƌĞŶŐƚŚĞŶĞĚ͕ ƐĞƩůŝŶŐ Ăƚ ϭ͘ϲdž ŐƌŽƐƐ ŵĂƌŐŝŶ ůŽŐŐĞĚ Ăƚ Ϯϴ͘ϰй ŝŶ ϵD͗ϮϬϮϭ ĨƌŽŵ Ϯϴ͘ϲй ŝŶ ϵD͗ϮϬϮϬ͕ ĚƵĞ

C UT IX

2.50

3.7%

SOVR EN IN S

8.7

-4.0%

ĨƌŽŵ ϭ͘ϯdž ƌĞĐŽƌĚĞĚ ŝŶ ƚŚĞ ůĂƐƚ ƚƌĂĚŝŶŐ ƐĞƐƐŝŽŶ ĂƐ Ϯϰ ƐƚŽĐŬƐ ƚŽ ƚŚĞ ĨĂƐƚĞƌ ƉĂĐĞ ŽĨ ŐƌŽǁƚŚ ŝŶ ĐŽƐƚ ŽĨ ƐĂůĞƐ ;нϳ͘Ϯй ƚŽ േϱϳ͘ϭďŶͿ ƚŚĂŶ

ET I

9.00

3.4%

FCM B

8.2

0.3%

F ID SON

7.55

3.4%

M B EN EF IT

7.6

4.0%

/ŶǀĞƐƚŽƌƐ ƐĞŶƟŵĞŶƚ͕ ĂƐ ŵĞĂƐƵƌĞĚ ďLJ ŵĂƌŬĞƚ ďƌĞĂĚƚŚ

ƌĞǀĞŶƵĞ͘ &ƵƌƚŚĞƌ ĚŽǁŶ͕ /d ƐƚŽŽĚ Ăƚ േϮϮ͘ϰďŶ ;нϭϴ͘ϭй LJͬLJͿ ĂĚǀĂŶĐĞĚ ǁŚŝůĞ ϭϱ ƐƚŽĐŬƐ ĚĞĐůŝŶĞĚ͘ DZ^ ;нϵ͘ϵйͿ͕ ǁŝƚŚ ĞdžͲ D zͲ

ϲϵ͘ϲй ŐƌŽǁƚŚ ŝŶ ĮŶĂŶĐĞ ĐŽƐƚ ;േϱ͘ϴďŶͿ ǁŚŝůĞ ƉƌŽĮƚ ĂŌĞƌ ƚĂdž ŐƌĞǁ ϲ͘ϳй

ǁŚŝůĞ dZ E^ ;Ͳϴ͘ϯйͿ͕ > ^ K ;Ͳϲ͘ϳйͿ͕ ĂŶĚ >/s Ͳ LJͬLJ ƚŽ േϭϲ͘ϲďŶ͘

^dK < ;Ͳϰ͘ϴйͿ ůĞĚ ůŽƐĞƌƐ͘ WƌĞǀŝŽƵƐ ĚĂLJ͕ ǁĞ ĞdžƉĞĐƚ ƚŚĞ ŵĂƌŬĞƚ ƐĞŶƟŵĞŶƚ ƚŽ ƌĞŵĂŝŶ ŵŝdžĞĚ͕ ĂƐ ĞĂƌŶŝŶŐƐ ƐĞĂƐŽŶ ŐƌĂĚƵĂůůLJ ǁŝŶĚƐ ƵƉ͘

P ric e

P ric e C hg %

T ic k er

Value

N EM

3.63

-8.3%

GT C O

476.5

1.4%

SUN UA SSUR

0.32

-5.9%

FB NH

161.1

0.0%

R EGA LIN S

0.45

-4.3%

NB

146.2

0.0%

-4.0%

ET I

126.3

3.4%

125.0

0.0% -0.4%

T ic k er

SOVR EN IN S

0.24

P ric e C hg %

WA P IC

0.49

-3.9%

D A N GC EM

WEM A B A N K

0.87

-2.2%

WA P C O

116.2

-2.0%

Z EN IT H B A N K

110.0

0.8%

88.2

0.0%

C OR N ER ST

0.50

T R A N SC OR P

1.06

-1.9%

UB A

C H IP LC

0.69

-1.4%

N GXGR OUP

57.4

1.3%

-1.2%

A C C ESS

47.9

2.1%

C A VER T ON

Afrinvest West Africa Limited

T o p 10 T r a d e s b y V a l u e

T o p 10 L o s e r s

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1.71

Brokerage

Asset Management

Investment Research

Adedoyin Allen | aallen@afrinvest.com

Robert Omotunde | romotunde@afrinvest.com

Abiodun Keripe | AKeripe@afrinvest.com

Taiwo Ogundipe | togundipe@afrinvest.com

Christopher Omoh | comoh@afrinvest.com

Damilare Asimiyu| dasimiyu@afrinvest.com

39

WEDNESDAY, JANUARY 19, 2022 • T H I S D AY

MARKET NEWS A Mutual fund (Unit Trust) is an investment vehicle managed by a SEC (Securities and Exchange Commission) registered Fund Manager.

Investors with similar objectives buy units of the Fund so that the Fund Manager can buy securities that willl generate their desired return.

An ETF (Exchange Traded Fund) is a type of fund which owns the assets (shares of stock, bonds, oil futures, gold bars, foreign currency, etc.) and divides ownership of those assets into shares. Investors can buy these ‘shares’ on the

floor of the Nigerian Stock Exchange.

A REIT (Real Estate Investment Trust) is an investment vehicle that allows both small and large investors to part-own real estate ventures (eg.

Offices, Houses, Hospitals) in proportion to their investments. The assets are divided into shares that are traded on the Nigerian Stock Exchange.

GUIDE TO DATA: Date: All fund prices are quoted in Naira as at 17Jan-2022, unless otherwise stated.

Offer price: The price at which units of a trust or ETF are bought by investors.

Bid Price: The price at which Investors redeem (sell) units of a trust or ETF. Yield/Total Return: Denotes the total return an investor would have earned on his investment. Money Market Funds report Yield while others report Year- to-date Total Return.

NAV: Is value per share of the real estate assets held by a REIT on a specific date.

DAILY PRICE LIST FOR MUTUAL FUNDS, REITS and ETFS MUTUAL FUNDS / UNIT TRUSTS AFRINVEST ASSET MANAGEMENT LTD aaml@afrinvest.com Web: www.afrinvest.com; Tel: +234 818 885 6757 Fund Name Bid Price Offer Price Yield / T-Rtn Afrinvest Equity Fund 166.98 169.70 0.54% Afrinvest Plutus Fund 100.00 100.00 9.03% Nigeria International Debt Fund 322.40 322.40 3.35% Afrinvest Dollar Fund 98.49 98.49 -2.49% AIICO CAPITAL LTD ammf@aiicocapital.com Web: www.aiicocapital.com, Tel: +234-1-2792974 Fund Name Bid Price Offer Price Yield / T-Rtn AIICO Money Market Fund 100.00 100.00 9.84% AIICO Balanced Fund 3.38 3.44 -4.48% ANCHORIA ASSET MANAGEMENT LIMITED info@anchoriaam.com Web:www.anchoriaam.com, Tel: 08166830267; 08036814510; 08028419180 Fund Name Bid Price Offer Price Yield / T-Rtn Anchoria Money Market 100.00 100.00 7.25% Anchoria Equity Fund 139.31 141.05 0.20% Anchoria Fixed Income Fund 1.16 1.16 1.79% info@anchoriaam.com ARM INVESTMENT MANAGERS LTD enquiries@arminvestmentcenter.com Web: www.arm.com.ng; Tel: 0700 CALLARM (0700 225 5276) Fund Name Bid Price Offer Price Yield / T-Rtn ARM Aggressive Growth Fund 20.40 21.01 0.56% ARM Discovery Balanced Fund 457.12 470.90 1.32% ARM Ethical Fund 39.43 40.62 1.22% ARM Eurobond Fund ($) 1.07 1.07 -1.26% ARM Fixed Income Fund 1.01 1.02 0.11% ARM Money Market Fund 1.00 1.00 8.56% AVA GLOBAL ASSET MANAGERS LIMITED info@avacapitalgroup.com Web: www.avacapitalgroup.com Fund Name Bid Price Offer Price Yield / T-Rtn AVA GAM Fixed Income Dollar Fund 108.29 108.29 0.32% AVA GAM Fixed Income Naira Fund 1,072.97 1,072.97 0.50% AXA MANSARD INVESTMENTS LIMITED investmentcare@axamansard.com Web: www.axamansard.com; Tel: +2341-4488482 Fund Name Bid Price Offer Price Yield / T-Rtn AXA Mansard Equity Income Fund N/A N/A N/A AXA Mansard Money Market Fund N/A N/A N/A CAPITAL EXPRESS ASSET AND TRUST LIMITED info@capitalexpressassetandtrust.com Web: www.capitalexpressassetandtrust.com; Tel: +234 803 307 5048 Fund Name Bid Price Offer Price Yield / T-Rtn CEAT Fixed Income Fund 2.06 2.06 7.32% Capital Express Balanced Fund (Formerly: Union Trustees Mixed Fund) 2.22 2.26 34.57% CARDINALSTONE ASSET MANAGEMENT LIMITED mutualfunds@cardinalstone.com Web: www.cardinalstoneassetmanagement.com ; Tel: +234 (1) 710 0433 4 Fund Name Bid Price Offer Price Yield / T-Rtn CardinalStone Fixed Income Alpha Fund 1.05 1.05 0.46% CHAPELHILL DENHAM MANAGEMENT LTD investmentmanagement@chapelhilldenham.com Web: www.chapelhilldenham.com, Tel: +234 461 0691 Fund Name Bid Price Offer Price Yield / T-Rtn Chapelhill Denham Money Market Fund 100.00 100.00 9.66% Paramount Equity Fund 16.95 17.26 0.74% Women's Investment Fund 139.80 141.40 0.54% CORDROS ASSET MANAGEMENT LIMITED assetmgtteam@cordros.com Web: www.cordros.com, Tel: 019036947 Fund Name Bid Price Offer Price Yield / T-Rtn Cordros Money Market Fund 100.00 100.00 9.26% Cordros Milestone Fund 133.82 134.68 1.23% 110.71 110.71 0.24% Cordros Dollar Fund ($) CORONATION ASSEST MANAGEMENT investment@coronationam.com Web:www.coronationam.com , Tel: 012366215 Fund Name Bid Price Offer Price Yield / T-Rtn Coronation Money Market Fund N/A N/A N/A Coronation Balanced Fund N/A N/A N/A Coronation Fixed Income Fund N/A N/A N/A EDC FUNDS MANAGEMENT LIMITED mutualfundng@ecobank.com Web: www.ecobank.com Tel: 012265281 Fund Name Bid Price Offer Price Yield / T-Rtn EDC Nigeria Money Market Fund Class A 100.00 100.00 6.93% EDC Nigeria Money Market Fund Class B 1,000,000.00 1,000,000.00 7.81% EDC Nigeria Fixed Income Fund 1,152.34 1,154.20 -1.53% assetmanagement@emergingafricafroup.com EMERGING AFRICA ASSET MANAGEMENT LIMITED Web:www.emergingafricagroup.com/emerging-africa-asset-management-limited/, Tel: 08039492594 Fund Name Bid Price Offer Price Yield / T-Rtn Emerging Africa Money Market Fund 1.00 1.00 8.74% Emerging Africa Bond Fund 1.05 1.05 2.93% Emerging Africa Balanced Diversity Fund 1.11 1.11 -0.18% Emerging Africa Eurobond Fund 104.72 104.72 0.11% FBNQUEST ASSET MANAGEMENT LTD invest@fbnquest.com Web: www.fbnquest.com/asset-management; Tel: +234-81 0082 0082 Fund Name Bid Price Offer Price Yield / T-Rtn FBN Bond Fund 1,400.68 11.32%

FBN Balanced Fund 176.28 -0.10%

FBN Halal Fund 116.11 9.35%

FBN Money Market Fund 100.00 8.94%

FBN Dollar Fund (Retail) FBN Nigeria Smart Beta Equity Fund FCMB ASSET MANAGEMENT LIMITED Web: www.fcmbassetmanagement.com; Tel: +234 1 462 2596 Fund Name Legacy Money Market Fund Legacy Debt Fund Legacy Equity Fund Legacy USD Bond Fund FSDH ASSET MANAGEMENT LTD Web: www.fsdhaml.com; Tel: 01-270 4884-5; 01-280 9740-1 Fund Name Coral Balanced Fund Coral Income Fund Coral Money Market Fund

122.46 149.72

122.46 3.81% 151.50 -0.23% fcmbamhelpdesk@fcmb.com

Bid Price N/A N/A N/A N/A

Offer Price Yield / T-Rtn N/A N/A N/A N/A N/A N/A N/A N/A coralfunds@fsdhgroup.com

Bid Price N/A N/A N/A

Offer Price N/A N/A N/A

Yield / T-Rtn N/A N/A N/A

INVESTMENT ONE FUNDS MANAGEMENT LTD enquiries@investment-one.com Web: www.investment-one.com; Tel: +234 812 992 1045,+234 1 448 8888 Fund Name Bid Price Offer Price Yield / T-Rtn Abacus Money Market Fund 100.00 100.00 8.36% Vantage Balanced Fund 2.86 2.92 0.16% Vantage Guaranteed Income Fund 1.00 1.00 4.50% Kedari Investment Fund (KIF) 141.91 141.96 -8.80% Vantage Equity Income Fund (VEIF) - June Year End 1.28 1.32 1.44% Vantage Dollar Fund (VDF) - June Year End 1.07 1.07 4.09% LOTUS CAPITAL LTD fincon@lotuscapitallimited.com Web: www.lotuscapitallimited.com; Tel: +234 1-291 4626 / +234 1-291 4624 Fund Name Bid Price Offer Price Yield / T-Rtn Lotus Halal Investment Fund 1.53 1.55 1.32% Lotus Halal Fixed Income Fund 1,142.47 1,142.47 0.52% MERISTEM WEALTH MANAGEMENT LTD info@meristemwealth.com Web: http://www.meristemwealth.com/funds/ ; Tel: +234 1-4488260 Fund Name Bid Price Offer Price Yield / T-Rtn Meristem Equity Market Fund 11.78 11.89 0.01% Meristem Money Market Fund 10.00 10.00 9.98% NORRENBERGER INVESTMENT AND CAPITAL MANAGEMENT LIMITED enquiries@norrenberger.com Web: www.norrenberger.com, Tel: +234 (0) 908 781 2026 Fund Name Bid Price Offer Price Yield / T-Rtn Norrenberger Islamic Fund (NIF) N/A N/A N/A Norrenberger Money Market Fund (NMMF) N/A N/A N/A PAC ASSET MANAGEMENT LTD info@pacassetmanagement.com Web: www.pacassetmanagement.com/mutualfunds; Tel: +234 1 271 8632 Fund Name Bid Price Offer Price Yield / T-Rtn PACAM Balanced Fund 1.57 1.59 13.31% PACAM Fixed Income Fund 11.21 11.18 12.92% PACAM Money Market Fund 10.00 10.00 7.69% PACAM Equity Fund 1.44 1.46 15.86% PACAM EuroBond Fund 114.28 116.56 1.62% SCM CAPITAL LIMITED info@scmcapitalng.com Web: www.scmcapitalng.com; Tel: +234 1-280 2226,+234 1- 280 2227 Fund Name Bid Price Offer Price Yield / T-Rtn SCM Capital Frontier Fund 0.00 0.00 6.60% SFS CAPITAL NIGERIA LTD investments@sfsnigeria.com Web: www.sfsnigeria.com, Tel: +234 (01) 2801400 Fund Name Bid Price Offer Price Yield / T-Rtn SFS Fixed Income Fund 1.08 1.08 10.03% STANBIC IBTC ASSET MANAGEMENT LTD assetmanagement@stanbicibtc.com Web: www.stanbicibtcassetmanagement.com; Tel: +234 1 280 1266; 0700 MUTUALFUNDS Fund Name Bid Price Offer Price Yield / T-Rtn Stanbic IBTC Balanced Fund 3,415.97 3,452.06 -0.81% Stanbic IBTC Bond Fund 236.08 236.08 0.15% Stanbic IBTC Ethical Fund 1.27 1.29 -1.54% Stanbic IBTC Guaranteed Investment Fund 314.08 314.08 0.24% Stanbic IBTC Iman Fund 238.57 242.14 -1.45% Stanbic IBTC Money Market Fund 100.00 100.00 7.44% Stanbic IBTC Nigerian Equity Fund 10,955.52 11,109.54 -1.38% Stanbic IBTC Dollar Fund (USD) 1.30 1.30 0.19% Stanbic IBTC Shariah Fixed Income Fund 117.13 117.13 0.14% Stanbic IBTC Enhanced Short-Term Fixed Income Fund 106.84 106.84 UNITED CAPITAL ASSET MANAGEMENT LTD unitedcapitalplcgroup.com Web: www.unitedcapitalplcgroup.com; Tel: +234 01-6317876 Fund Name Bid Price Offer Price Yield / T-Rtn United Capital Equity Fund 0.93 0.96 0.40% United Capital Balanced Fund 1.36 1.38 -0.39% United Capital Wealth for Women Fund 1.10 1.12 0.99% United Capital Sukuk Fund 1.08 1.08 0.37% United Capital Fixed Income Fund 1.96 1.96 0.31% United Capital Eurobond Fund 122.63 122.63 0.23% United Capital Money Market Fund 1.00 1.00 8.60% QUANTUM ZENITH ASSET MANAGEMENT & INVESTMENTS LTD service@quantumzenithasset.com.ng Web: www.quantumzenith.com.ng; Tel: +234 1-2784219 Fund Name Bid Price Offer Price Yield / T-Rtn Zenith Balanced Strategy Fund 13.19 13.31 -0.02% Zenith ESG Impact Fund 14.75 14.91 0.95% Zenith Income Fund 24.93 24.93 0.20% Zenith Money Market Fund 1.00 1.00 6.91%

REITS NAV Per Share

Yield / T-Rtn

124.98 54.65

10.62% 8.10%

Bid Price

Offer Price

Yield / T-Rtn

13.80 129.95 103.08 18.36 21.74

13.90 133.20 105.34 18.46 21.84

-1.19% -1.26% -0.53% 0.00% 0.00%

Fund Name SFS REIT Union Homes REIT

EXCHANGE TRADED FUNDS Fund Name Lotus Halal Equity Exchange Traded Fund SIAML Pension ETF 40 Stanbic IBTC ETF 30 Fund MERGROWTH ETF MERVALUE ETF

VETIVA FUND MANAGERS LTD Web: www.vetiva.com; Tel: +234 1 453 0697 Fund Name Vetiva Banking Exchange Traded Fund Vetiva Consumer Goods Exchange Traded Fund Vetiva Griffin 30 Exchange Traded Fund Vetiva Money Market Fund Vetiva Industrial Goods Exchange Traded Fund Vetiva S&P Nigeria Sovereign Bond Exchange Traded Fund

funds@vetiva.com Bid Price

Offer Price

Yield / T-Rtn

4.07 5.55 17.84 1.00 20.94 159.31

4.17 5.65 18.04 1.00 21.14 161.31

8.13% 8.92% 3.84% 0.00% 7.95% 0.97%

NAV Per Share

Yield / T-Rtn

107.28

10.80%

INFRASTRUCTURE FUND Fund Name Chapel Hill Denham Nigeria Infrastructure Debt Fund

The value of investments and the income from them may fall as well as rise. Past performance is a guide and not an indication of future returns. Fund prices published in this edition are also available on each fund manager’s website and FMAN’s website at www.fman.com.ng. Fund prices are supplied by the operator of the relevant fund and are published for information purposes only.

40

WEDNESDAY JANUARY 19, 2022 •T H I S D AY

41

WEDNESDAY, ͹΁˜ ͺ͸ͺͺ ˾ T H I S D AY

FORTY-ONE PRICES OF RICE, OTHER FOOD ITEMS TO CRASH SOON, BUHARI ASSURES over 99.83 per cent within the past seven years.

But reacting to yesterday’s unveiling, the Peoples Democratic Party (PDP) yesterday mocked the APC and its governments, describing it as another shameless media stunt to again beguile Nigerians ahead of 2023 elections.

According to the leading opposition political party, the unveiling of bogus rice pyramids in Abuja, was nothing but, “pyramids of lies.”

However, Buhari's assurance to Nigerians on cheaper food items came on a day he personally presented awards to Emefiele and five other state governors for their contributions to the development of agriculture in the country.

The state chief executives included Governors of Ekiti, Mr. Kayode Fayemi; Kebbi, Alhaji Atiku Bagudu; Cross River, Prof. Ben Ayade; Ebonyi, Mr. David Umahi, and Jigawa, Alhaji Abubakar Badaru.

The president said: “Today rice production in Nigeria has increased to over 7.5 million metric tons annually. Prior to the introduction of APB, the average production in Nigeria between 1999 to 2015 was less than four metric tons annually.

“I am aware that the bags of paddy will be moving straight from here to rice milling plants across Nigeria, which lead to the release of processed rice to the markets by the rice millers. The measure will aid our efforts at reducing the price of rice in Nigeria.

“Before this administration launched the ABP, there were only 15 standard Rice mills in Nigeria. As at today, we have over 50 Standard and integrated Rice mills creating jobs and reducing unemployment.

We expect additional significant output when two new mills are started in Lagos and Katsina,’’ he said.

The president said the large margins in the business of rice had also encouraged more people to show interest in investing in agribusiness.

“Fellow Nigerians, our gathering here today, is no doubt a testament to the fact that the Anchor Borrowers’ Programme is working. Indeed, these sky-high pyramids which we are gathered here to commission are part of our commitment at achieving national food security and

economic diversification through home-grown policies targeted at securing food for all Nigerians.

“As a critical policy of the government, the Anchor Borrowers’ Programme is expected to catalyse the agricultural productive base of the nation, which is a major part of our economic plan to uplift the economy, create jobs, reduce reliance on imported food and industrial raw materials, and conserve foreign exchange.

“In the implementation of the programme, adoption of highyielding seedlings, quality inputs and best farming practices were essential features.

“For instance, the improved rice seedlings have helped to ensure our achievement of rice sufficiency, as they are disease-resistant and have an average yield of about 5 metric per hectare, compared with the traditional national average of 1.5 metric tonnes.

“This has resulted in bridging our rice consumption gap, a significant reduction in rice imports, and saved us foreign exchange,’’ he added.

President Buhari said the commissioning of the rice pyramids was an indication that the country was making steady and assured progress towards self-sufficiency in food production, adding: “It is my desired hope and expectation that other agricultural commodity associations that are yet to participate under the Anchor Borrowers’ Programme will emulate the Rice Farmers Association of Nigeria in supporting our administration’s drive for food self-sufficiency.’’

The president noted that, about three years ago, the first set of skyhigh pyramids of rice harvests were showcased in Argungu, Kebbi State, which was followed by another set in Minna, Niger State, about a year ago and barely three months later in Zauro, Kebbi State, rice pyramids were again, unveiled.

President Buhari said in May 2021, the CBN unveiled the first rice pyramids in the South-west in Ado Ekiti, Ekiti State.

“Those events were historic as first, they remind us of our yester-year’s agricultural commodity pyramids, such as the groundnut pyramids in Kano and secondly, they symbolize that we can produce what we eat.

“The significance of today’s

occasion can be better understood by looking at the various economic strides the administration has achieved through agriculture.

“When we assumed the reins of leadership of this country in 2015, the administration identified the Anchor Borrowers’ Programme as an essential policy instrument for achieving economic diversification through agriculture.

“To achieve this, the Anchor Borrowers’ Programme was designed to encourage investments in agriculture and empower smallholder farmers as drivers of transformation in the agricultural sector and as critical enablers of economic growth.

“I am indeed delighted that the Anchor Borrowers’ Programme continues to receive commendations, since its introduction six years ago, as it has become one of the reference points in the administration’s agricultural revolution effort.

“In fact, the Programme speaks loudly in its giant strides as it has increased access to finance by our rural farmers, who before now were virtually excluded from the financial system,’’ he said.

Buhari commended the CBN over its efforts at resuscitating the Nigerian Commodity Exchange following approval to do so.

This, he said, had been done in the hope that farmers could have ready buyers of their produce, thereby resolving the current logistical challenge of moving their produce from farm to markets.

“Let me also commend the Governor and staff of the Central Bank of Nigeria, as well as the leadership of the Rice Farmers Association of Nigeria for the successful delivery of these pyramids, which hopefully is just the first of many that will be unveiled this year across Nigeria,’’ the President added.

Speaking further, Emefiele, at the unveiling of the mega rice pyramids, said rice importation from Thailand alone was valued at 1.3 million metric tons as at 2014, adding that by 2016, importation from same country had fallen to only 58,000 metric tons.

The CBN governor further disclosed that as of the end of 2021, Thailand only exported 2,160 metric tons to Nigeria, thereby saving the country foreign exchange and helping preserve local jobs.

He said the ABP was launched

in 2015 to curtail excessive imports, adding that, "we have seen incremental reductions in rice imports from Thailand."

Emefiele, pointed out that as at the end of December 2021, the CBN had financed 4.48 million farmers who cultivated 5.30 million hectares across 21 commodities through 23 Participating Financial Institutions (PFIs) in the 36 States of the Federation and Federal Capital Territory (FCT).

He said, "We are delighted that these efforts have yielded fruits in not just increasing the availability of rice, but also in moderating prices, reducing imports and increasing job creation in the country."

Emefiele, nonetheless, said beyond increasing national output from about 5.4 million metric tons in 2015 to over nine million metric tons in 2021, there had also been significant improvement in the productivity per hectare of the smallholder farmer from about 2.4 metric tons per ha in 2015 to about 5 metric tons per ha in 2021.

He noted that these expansions have not only made Nigeria the largest rice producer in Africa, but had also unlocked enormous private sector investment in the rice value chain.

He said the number of Integrated Rice Mills grew astronomically from six in 2015 to over 50 in 2021 with many more in various stages of completion.

The CBN governor added that today, Nigeria’s milled rice matches the foreign competition in quality.

He added that taking a cue from the success in the rice value chain, the apex bank had also commenced the “Brown Revolution” last year in line with its mantra for the transformation of the wheat value chain in the country.

According to him, wheat remained the third most consumed grain in the country after maize and rice, stressing that the country only produce about one per cent (63,000mt) of the 5-6 million metric tonnes of wheat consumed annually in Nigeria.

He said, "This enormous demand-supply gap is bridged with over $2 billion annual importation of wheat. As a result, wheat accounts for the second highest food import bill in Nigeria, thereby putting pressure on the nation’s foreign

Lagos Imposes N288,000 Annual Transport Tax on Public Buses Payment to commence immediately

Segun James

The Lagos State government has announced that with immediate effect, every bus plying the roads in the state must pay a daily tax of N800 to government coffers, which amounts to an annual levy of N288,000.

But the leadership of the National Union of Road Transport Workers (NURTW) in the state has made it clear that the tax was different from its collection.

The development comes on the heels of a research carried out by an independent body in 2021 that had revealed that Lagos generated not less than N125 billion annually from collection of levies from the transport sector.

Speaking during a media briefing in Ikeja, to intimate members of the public on the newly introduced levy,

the Commissioner for Finance, Dr. Rabiu Olowo said each transporter would be entitled to a tax card daily to have a hitch-free exercise, adding that the levy would serve as payment of tax by the transporters.

According to Olowo, the briefing followed the signing of agreement among stakeholders in the transport sector to harmonise tax payment by transporters in the state.

Olowo said, "Mr. Governor has made it a priority to put the interest of Lagosians first, that is why all the stakeholders are here today. Before we came out, we had fought, disagreed and agreed on the need to have our consolidated informal transport sector levy.

"The government of Mr. Babajide Sanwo-Olu has inspired that we all come together to have a consolidated levy that takes care of personal income taxes, dues on environment Local Government levy and others.

We want to reduce the multiplicity of collection taxes, dues and levies.

"We want to build a reliable database so that all the players will be captured in the same data; we want to have bus drivers with their cards; we want to bring collaborative engagement," adding the development was a remarkable achievement happening for the first time in the state.

Whie reiterating that an average bus driver currently pays not less than N3,000 daily as levy, he said: "We want to harmonise, to have a single charge of N800. We want to moderate the fee payable to government. This is a very insightful breakthrough for all those who do business within informal transport sector in the state."

In his clarification on the mode of payment, the leader of the NURTW in the state, Musiliu Ayinde Akinsanya (M.C. Oluomo)

stated that the N800 would not cover the levy collected by his members, saying it only affects the taxes and other charges being collected by the government.

According to him, "I want to make it clear that the N800 only covers all the money collected by the MDAs; it does not affect NURTW ticket."

Special Adviser to the Governor on Transportation, Mr. Toyin Fayinka explained that with the new development, a bus driver who pays at any given local government at the point of departure, won't have to pay any levy again in the course of his journey.

"A bus driver from Badagry having paid N800 to Badagry local government and going to Mike 2, won't pay again to Ojo local government. The payment of point of departure takes care of the daily levy and other charges by the government," Fayinka stated.

Buhari Seeks Senate Confirmation of NCC, FJSC Nominees Deji Elumoye and Sunday Aborisade in Abuja The Senate has received two requests from President Muhammadu Buhari for the confirmation of Prof. Mansur Auwalu Bindawa as Non-Executive Commissioner of the Nigerian Communications Commission (NCC) and Nnamonso Ekanem (Akwa-Ibom) and Mahmud Abubakar Magaji

(Niger) as members of the Federal Judicial Service Commission (FJSC).

The request letters were read yesterday by the Senate President, Dr. Ahmad Lawan, upon resumption of plenary by the Red Chamber.

The request to confirm the nomination of Bindawa as Non-Executive Commissioner of the Nigerian Communications Commission was contained in a letter dated January 10, 2022.

Buhari in the letter explained that the request was made pursuant to the provision of Section 8(1) of the Nigerian Communications Act. In another letter dated January 4, 2022, President Buhari requested the Senate to confirm the nominations of Ekanem and Magaji as members of the Federal Judicial Service Commission.

Ekanem and Magaji are expected to represent the South-South and

North-Central zones, respectively.

The letter read in part: “In accordance with the provision of Section 154 of the 1999 Constitution of the Federal Republic of Nigerians (as amended), I hereby present for confirmation by the Senate, the following two (2) names of members of Federal Judicial Service Commission, who have been appointed in consultation with the council of State.”

exchange reserves.

"We have concluded the first major wet season wheat farming in Plateau State and planted over 100,000 hectares of wheat across 15 States in the 2021 dry season.

This strategic intervention will herald progressive reduction in our wheat import bills over the coming years."

The CBN governor also commended smallholder farmers in the country and the leadership of the various commodities associations, “for the diligence, bravery, patriotism and adaptability.”

“The past few years have been quite challenges for these farmers as they have battled with insurgency, banditry, lockdown and other related setbacks. Indeed, we lost some of our farmers to attacks by insurgents nationwide, while some could not assess their farms for several months.

“Yet, the kept faith, they did not give up and the persevered.

They did not abandon our fight for food self-sufficiency. Today’s event therefore is a celebration of their doggedness and appreciation of their commitment to food security in Nigeria.

“The ABP has catalysed the rural economy and has built a sustainable framework for financing small holder farmers in Nigeria.”

Emefiele also added that the CBN established a Strategic Maize Reserve with the stock of maize submitted as loan repayment by farmers, pointing out that this will provide a buffer for price modulation for the poultry and feed mills nationwide.

He said, "A total of 241,656.76 MT was aggregated in the 2020 wet and dry seasons, out of which 217,218.53 MT has been disposed to 18 millers and poultry farmers through the Poultry Association of Nigeria.

"The programme was able to stabilise the poultry and livestock sectors during the pandemic and saved the industry and consumers over N10 billion in raw material costs."

He said, "Our experience over the years has been transformed to operational efficiency of the programme. We have added several layers of controls to improve on transparency and accountability among all stakeholders and what you are witnessing today is a demonstration of our growth and a strong indication of the enormous potential in the country’s agricultural space.

Emefiele, however, noted that the current progress was still a far cry from the desired goal, pointing out that the "growth processes reaffirm our belief in the potential inherent in our agricultural space and we can hopefully harness them to lead the diversification agenda of the economy."

He said, "The mega pyramids being launched today represents aggregated paddy rice submitted as repayment of loans by RIFAN farmers under the 2020 dry season and 2021 wet seasons.

"Beyond the event, it also symbolizes the efforts made by our farmers to commit to loan repayment through produce submission and ultimately ensure the sustainability of the programme.

"To further create value and transfer these gains along the value chain, we have mapped millers to off-take these paddies and we will track the release of their outputs to the market as we strive to manage inflation and grow the rice value chain in Nigeria."

He also stated that the resuscitation of the Nigeria Commodity Exchange (NCX) was another strategic initiative to enhance the food security drive of your administration.

He said a vibrant commodity exchange will significantly enhance post-harvest handling, reduce wastage and guarantee effective pricing for farmers and minimise the adverse effects of the activities of middlemen, commodity hoarders and ultimately transfer the gains from primary production to other nodes of the value chain.

He said this aligns with the CBN's resolve to take outputs as loan repayment under the ABP while the produce will drive the

operations of the commodity exchange going forward.

He said all of the achievements would not have been possible without the leadership and vision of Buhari adding that these accomplishments also showed that with the right leadership and vision, the country can overcome any challenge.

Emefiele added: "COVID-19 has shown that we cannot rely on imports and hence we must chart our own path to attaining self-sufficiency in our basic needs as a nation. And this must become our preeminent preoccupation going forward.

"We have deepened our stakeholders’ engagement to increase the arable land under cultivation and improve the productivity per hectare using improved seeds and agronomic practices.

"We are currently exploring a new rice seed variety with RIFAN that has potential to deliver over 8 tons per ha. The pilot programme should commence in the 2022 dry season, and it has the potential of being the game changer for the rice sector in Nigeria.

"We will work with the various seed certification authorities and explore the possibility of patenting it for RIFAN as part of their legacies under the programme."

Meanwhile, the PDP in a statement by its National Publicity Secretary, Debo Ologunagba, alleged that Nigerians were already aware and pictures were available of how the APC and its government, “create fake pyramids of rice with sandbags and re-bagged rice stacked on pyramid shaped wooden structures as busted in an APC-controlled state in the South-west in 2018.”

The PDP added: "Of course, there is nothing to celebrate in the APC pyramid of lies in Abuja. It is rather shameful that APC leaders are again ridiculing President Muhammadu Buhari by making him unveil pyramids of allegedly imported foreign rice which are re-bagged as locally produced, just to create an impression of a boost in local production under his watch.

"If indeed, there is a boost in local production of rice as the APC wants Nigerians to believe, how come the price of rice has not come down but continued to soar from about N8,000 per bag which the PDP handed over to the APC in 2015, to about N30,000 per bag today?" the PDP asked.

According to the main opposition party, "It is on record that the PDP turned the water land of various states of our nation into huge rice production hubs with farms and mills springing up across the country, leading to a boost in local production, drastic drop in imports and the celebrated affordable prices of food products under the PDP administration."

The PDP further alleged that, "painfully, the APC, with its incompetence, counter-productive policies and incurable corruption reversed all the gains made by the PDP in the agricultural sector and triggered a decline in production which resulted in the high cost of food in our country today."

Ologunagba said Nigerians could recall how the APC-led administration failed to protect the farmers and particularly how it blamed over 40 rice farmers killed by terrorists in Borno state instead of going after their assailants.

It maintained that the rice pyramid was, "APC pyramids,” stressing that it was nothing, “but huge signposts of their failures and irredeemable proclivity for lies, deception, beguilement and fake performance claims even in the face of unbearable high costs of food, 22.95 percent food inflation rate and our nation’s ranking as 98th out of 107 in Global Hunger Index.

"It is clear that with the 2023 elections in sight, the APC is desperate in pushing its stock-in-trade, pyramid of lies, propaganda, deceit and bogus claims with which they stole power in 2015. What the APC has not realised is that 2023 is not 2015. Nigerians have seen through APC deceits and not even these “pyramids of lies” can help the APC in 2023", the main opposition party stated.”

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NEWS

BUA FOODS LISTING CEREMONY...

L-R: Managing Director, Central Securities Clearing System (CSCS) Plc, Haruna Jalo-Waziri; Chief Executive Officer, Nigerian Exchange Limited, Temi Popoola; Acting CEO, BUA Foods Plc, Ayodele Abioye; Group Executive Director, Alhaji Kabiru Rabiu; Executive Director, Isyaku Rabiu, and Non-executive Director, NGX, Seyi Osunkeye, during the closing gong ceremony in commemoration of BUA Foods Plc Listing on the NGX in Lagos…yesterday

P&ID Scam: EFCC Quizzes Ex-Lagos AG, Supo Shasore Kingsley Nwezeh in Abuja The Economic and Financial Crimes Commission (EFCC), yesterday, quizzed a former Attorney General and Commissioner for Justice in

Lagos State, Mr. Olasupo Shasore (SAN).

Shasore was grilled by operatives of the commission over his alleged role in the Process & Industrial Development scam.

THISDAY gathered that Shasore arrived the EFCC headquarters yesterday afternoon.

"He came here in the afternoon.

He is being quizzed over his role in the Process & Industrial

Presidency: Buhari Has Broken Jinx of Presidents Enriching Themselves, Cronies Says his legacy is strong, difficult to dismantle Deji Elumoye in Abuja The presidency, yesterday, declared that the President Muhammadu Buhari administration has broken the jinx of sitting Presidents and cronies enriching themselves at the expense of the state.

It also stated that the over six year legacy of the President remained strong and difficult to dismantle.

Senior Special Assistant to the President on Media and Publicity, Garba Shehu, in a release, emphasised that President Buhari's greatest achievement of all is to break the belief that Presidents of Nigeria take the office and use it to enrich themselves and their accessories at public’s expense.

According to him: "That wicked spell is broken for good. And it has offended politicians everywhere.

They thought the state owed to them while the people provided for the state. Instead, they have witnessed how, when the state owes to them nothing, it provides for the people.

"So many in the political elites of this country cannot wait for the President’s second term in office to end. They yearn for a return to the good old days of helping themselves to public funds with abandon, the easy export of ill-gotten money to foreign bank accounts, of acting without responsibility, accountability, or censure. The last thing they want is another Buhari.

"Even though the President will stand down after the election of a successor next year – whether that successor lives up to the exacting standards and example he has set or not – his legacy is strong and will be peculiarly tough to dismantle.

"Courts that hold those before

it fairly and properly accountable – regardless of their wealth or lack of it; the successful repatriation of stolen funds from decades of export abroad and its use to fund social, unemployment, and welfare programmes for the poorest; reforms that have taken the steam out of centuries-long ethnic

and tribal disputes – such as the farmer-herder clashes – long used to stoke ethnic and regional tensions by venial politicians for political advantage; and the protection of millions through an effective vaccine roll-out programme. These are just a tiny handful of the achievements of the President," the statement stated.

Development scam," a competent source said.

It would be recalled that Justice Obiora Egwuatu of the Federal High Court, Abuja, on Monday, remanded Grace Taiga, a former Director of Legal at the Ministry of Petroleum Resources, in prison custody pending perfection of her bail condition.

The defendant, who is facing prosecution by the Economic and Financial Crimes Commission (EFCC), for allegedly receiving bribes to facilitate the award of contract in the infamous Process & Industrial Development Limited (P&ID) scam, failed to provide a surety after she was granted bail by the court sometime in October, 2021.

A statement by the EFCC stated that at the resumed sitting, prosecuting counsel, Abba Muhammed, informed the court

that the prosecution had a new charge, which has been served on the defendant “with additional proof of evidence.

"The only difference is that we are dropping two counts, eight and nine. It is a new charge to replace the old one. It is a reduction from nine counts to seven counts.”

The amended charge has the defendant’s daughter, Enameg Vera Moses Taiga, listed as an accused, who allegedly received the sum of $9,969.5 paid by Kristholm Limited, a company controlled by the owners and promoters of Process & Industrial Development Limited, through her HSBC bank account on behalf of the 1st defendant.

The former charge was withdrawn and replaced with the new one.

One of the counts in the amended read, “That you, Grace Taiga, Enameg Vera Moses Taiga(at

large), Brendan Cahill (at large), Michael Qiunn (Deceased) on or about the 30th of January, 2012 within the jurisdiction of this Honourable Court did conspire to commit an offence to wit, money laundering by disguising the origin of the sum of $5,000 in paid by Kristholm Limited – a company controlled by the owners and promoters of Process & Industrial Development Limited, P&ID – into the HSBC bank account of Enameg Vera Moses Taiga domiciled at No.8.

Canada Square, London branch of HSBC, which money you reasonably ought to have known forms part of the proceeds of unlawful act, to wit, bribery and thereby committed an offence contrary to section 18(a) and punishable under section 15(2)(a) and (3) of the Money Laundering (Prohibition) Act, 2011(as amended).”

2023: Aisha Buhari Wants APC to Consider Women for Vital Positions

Ahmed: Stronger, more inclusive economy hinged on women empowerment

The wife of the President, Mrs. Aisha Buhari, yesterday emphasised the need for the All Progressives Congress (APC) to consider more women for important offices ahead of the 2023 general elections in the country.

Also, the Minister of Finance, Budget and National Planning, Mrs. Zainab Ahmed, has stressed that it was crucial to take a long-term and strategic approach to ensure that women are economically empowered if the nation was to have a stronger and more inclusive economy.

They both spoke at the first-ever National Progressive Women’s Conference in Abuja.

Aisha Buhari also warned governors that they would be held responsible if women do not get the 35 per cent affirmative action in political appointments and administration.

The National Gender Policy (NGP) had formulated a 35 per cent Affirmative Action (AA) in Nigeria since 2006 and demands that 35 per cent of women should be involved in all governance processes.

According to the First Lady, “This is the first time the national women conference of the APC

is being held to establish our commitment to setting the position of women in matters of national importance, especially in increasing the visibility of women, positioning women for future political offices, and encouraging them to aspire more towards the progress of our great party.

“Since 2015, I've had the privilege of engaging Nigeria women across the entire country, my conviction is that Nigeria's future is entirely dependent on actually using the potential of our women. It is no mere coincidence that parties that have grown strong, prosperous and influential have prioritised women’s participation in national building.

“I therefore wish to call upon the APC to double its efforts in promoting women, this I believe, will serve as one of the objectives of this conference.

“As Nigeria race towards another election, we must go beyond paying lip service to putting women in vital offices within our party and the government. We must put in place workable strategies to ensure that this actually happens, charity begins at home.

“And so the APC must start by ensuring that women occupying strategic offices within the party have the most strategic roles in government. When this happens, it will become a lot easier for us to empower the Nigerian women for the much needed leadership politically and economically.

“There is no doubt that the future indeed looks bright as APC continues to lead our country.

Women who have long been ignored and denied opportunities are now finding their voices gradually. This is a good omen for Nigeria, because when women shine, society shines.”

She also called on the Nigerian women to continue the struggle by showing greater influence, commitment and unity in the decision making process of this country, adding “our vintage pride lies in our shared numerical strength.”

In a paper she delivered titled: “Fiscal Policies and Interventions for Women’s Economic Empowerment: A Key Driver for Sustainable and Inclusive Development in Nigeria," she said the nation must continue working towards the development and implementation of policies, regulatory frameworks, and programmes that are inclusive

and gender-sensitive.

In addition, she stressed the need to remove socio-economic and cultural barriers that prevent women from participating fully in society and from reaping the economic benefits of their participation.

This, she noted, was especially important given the evidence that gender-neutral policies are often applied in ways that exclude and disenfranchise women stakeholders and other vulnerable communities.

The finance minister said: "We are at a critical crossroads when it comes to women’s participation and economic empowerment.

The data is resoundingly clear – women’s economic participation and empowerment is a key driver of overall economic growth and improved development outcomes, ultimately leading to improved economic resiliency and greater social inclusion.

"Even so, women remain vulnerable, and as global and domestic data has shown, women have disproportionately borne the impact of the COVID-19 pandemic. This is against the backdrop of recent human capital and gender parity indices which

provide a sobering reality – that we have a long journey ahead when it comes to achieving gender equity.

"The economic and social empowerment of women and girls is therefore critical to our collective vision of a prosperous and resilient Nigeria. It is therefore imperative that we prioritise the advancement of women in all spheres of society, and specifically in areas relating to their socioeconomic empowerment."

According to her, while significant progress had been made in addressing gender equity issues both globally and domestically, and across different subject matter areas, there were still a lot more work to do.

In her presentation, the Minister of Fed Min of Humanitarian Affairs, Disaster Management and Social Development Sadiya Umar Farouq, charged Nigerian women to be diligent and committed as they prepare for the 2023 elections.

The minister told delegates who came from the 36 states and the Federal Capital Territory to be diligent as they have to work 10 times harder than their male counterparts to earn recognition and appreciation.

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SOUVENIR FOR THE MINISTER...

L-R: First Vice President, Institute of Directors (IoD), Alhaji Tijjani Borodo; President, Dr Ije Jideoma, presenting gift to the Minister of Industry, Trade and Investment, Adeniyi Adebayo, when a delegation of the institute visited the minister in his office in Abuja ... yesterday

Bodo Vs Shell: Over 14,000 Beneficiaries Accuse British Lawyer of Underhand Dealings in £55m Oil Spill Compensation Allege £30m unaccounted for I have presented my defence before the courts, says solicitor We have no case against him in court, insists community Emmanuel Addeh in Abuja Bodo community in Rivers State has accused its British Solicitor and Senior Partner, Leigh Day & Co, Mr. Martyn Day, of short-changing over 14,000 beneficiaries in the £55 million compensation paid by Shell Petroleum Development Company (SPDC) in 2015.

The community in over a dozen correspondences between its representatives and the lawyer, copies of which were obtained

by THISDAY, noted that as much as £30 million paid to the lawyer for further disbursement to the impacted residents remains unaccounted for.

Furthermore, the oil-producing Ogoni community noted that all efforts to ensure that Leigh Day makes available the documents, including the bank instruction as well as receipts used in making the payments hit a brick wall.

Members of the Bodo community had in 2012, filed a lawsuit against Shell in a London High Court, seek-

ing compensation for two oil spills and losses suffered to their health, livelihoods, and land. In addition, they requested the clean-up of the oil pollution.

The over 14,000 plaintiffs maintained that the relevant pipelines caused spills because they were over 50 years old and poorly maintained, adding that Shell reacted too slowly after being alerted to the situation.

But in January 2015, Shell accepted its responsibility and agreed to a £55 million settlement after which the funds were routed through its British Lawyer, Leigh Day, who a representative of the community, Mr Timothy Sapira, alleged was holding back at least £30 million of the total money.

Efforts to get the lawyer to explain the circumstances surrounding the disbursement of the £55 million, the community said, had since 2015 proved fruitless, as the solicitor declined to respond to all their enquiries until recently.

In one of the official communication from the Bodo Council

LAWAN: NATIONAL ASSEMBLY TO REWORK, PASS ELECTORAL BILL WEDNESDAY He said that IPAC has also called on the President to thereafter, assent to the Bill without delay.

"Our concern in the IPAC, is that failure to reach a compromise in the short run may invariably translate into the death of the other very crucial provisions, such as the provisions on the Electronic Transmission of election results.

As it is, compromise and shifting of grounds in respect of the Bill by the two arms of government, incidentally controlled by the same political party, the APC, should not ideally, be too cumbersome a task to accomplish.

19 Northern CSOs Ask NASS to Override Buhari's Veto

The northern states’ civil society networks urged the NASS to override Buhari and exercise its constitutional provision by vetoing the rejected electoral act by the president.

In a letter addressed to the Senate by the Chairman of the Networks, Ibrahim Waiya and signed by 19 northern civil society organisations, he reminded the National Assembly that overriding the president on

the bill was a national duty not a party affair.

He explained that the signing of the Electoral Amendment bill would enhance electronic transmission of results and tackle the problems of ballot box snatching, as well as alteration and rigging of election results.

He said: "It will also enhance popular participation by party members via direct primaries, eliminate money politics associated with the delegate system of voting in the indirect primaries and reduce political apathy by party members in particular and the citizens in general.

"Decimate the overbearing influences of Godfathers as party members will be stakeholders and partners in the conduct of all party activities and It will strengthen political parties and democracy in Nigeria.

"It therefore behooves on the leadership of the National Assembly to as a matter of public importance override the president and assent the electoral amendment bill 2021 owing to the fact that, the reasons given were not justifiable enough for president's decline."

of Chiefs and Elders, signed by the Chairman, Chief John Vilola and Vice President, Chief Bernard Kiate, among others, the community leaders expressed frustration over the turn of events.

The Ogoni leaders pointed out that as individual claimants and as Bodo Council of Chiefs, the group that was recognised as party to the Master Settlement Agreement (MSA), it was concerned about the incomplete and inaccurate payment of the settlement sums arising from the claim.

“Rather than deal with substantive issue of the allegations against your firm, you have sought to hide behind spurious legal arguments.

“It is our understanding that you have been properly and fully remunerated for the services you provided to the Bodo community in this case. Therefore, these are documents that any fair-minded person would agree that we are entitled to as clients.

“These documents will help us establish that you have effected the payments of the settlements sums ‘reasonably and in good faith' in line with the requirements of the MSA. “...So we write to you under the same authority now to provide the above information to us through our legal representatives, Samuel & Co. Solicitors in the same UK. “If Leigh Day & Co has nothing to hide, it would swiftly provide the above information without any quibble or further delay. Equally, refusing to do so would further heighten our suspicion that Leigh Day & Co. may not have acted reasonably and in good faith in the payment of the settlement sums to individuals/Bodo community,” they noted.

The community leaders threatened that failure to provide the information, would leave them with no option other than to seek redress from any regulatory body that can assist them in the matter.

This, they hoped, would, “stop the firm from acting with such impunity and total disregard for legal standards/practices in dealing with their most disadvantaged clients.”

In another correspondence, the community listed the documents being demanded from the British law firm as: a copy of the statement of account, a requirement of the MSA that was provided by the

firm to SPDC for the distribution of the £55 million and a copy of the firm’s designated bank accounts forwarded to SPDC/escrow agent for payment of £55 million, that is, £35 and £20 million separately.

They further requested copies of credit advices from SPDC/escrow agent's bank for payment totalling £55 million to the designated bank accounts, instructions confirming payment as well as debit advices from the bank confirming payment in full.

Among others, Bodo also demanded copies of debit instructions to their bank for the total sum refunded to SPDC for non-settling claimants, copies of debit advice, evidence of total payment (both interim and final sum) made by SPDC to the firm as legal cost, list of claimants paid as well as claimants not paid.

“Our clients are keen to resolve these matters swiftly. As soon they have ascertained that they have received their full entitlement in relation to the Bodo oil spillage case. They want closure and wish to move on with their lives.

“They take the view that since Leigh Day has been fully compensated for the work undertaken in this case, they are entitled to the requested documents under UK laws and regulations.

“Therefore, if LD are unable to produce or share any of the requested documents above, they should make clear in each instance of refusal reasons for either not wanting or being able to do so,” another letter written by the new lawyers to the community, Samuel & Co Solicitors, noted.

In a separate communication, a representative of the community, Sapira notified the lawyer of the intention of Bodo to drag him before the UK authorities since he had resorted to “spurious legal manoeuvres rather than address concerns.” Day had said there was a discrepancy between the initial 15,576 beneficiaries and the 14,134 in one of the letters.

“You will leave the individual claimants and the Bodo community no option other than to take this matter further and as previously notified we will be lodging a complaint with not only Solicitors Regulatory Authority (SRA) and other legal institutions in the same UK, but also any other bodies corporate available elsewhere in

the world at some time in the next two weeks,” it stated.

Sapira told THISDAY that after the monies were virtually “butchered”, none of the beneficiaries received anything substantial.

But when THISDAY contacted the London law firm, it responded that the case was already in court, adding that it could not make any comments, a statement that was disputed by the community representative.

A response to the enquiry signed by the firm’s Head of Media Relations, Caroline Ivison, stated that Leigh Day was not disposed to putting up a defence outside the courts.

“Your email below was passed

onto me (Ivison). While the case is being litigated, it would not be appropriate to comment. But we are able to say that a full defence to all the allegations had been served.

“The defence is on the court file which I believe you can request from the court if you wish,” the firm stated.

But the lawyer’s position was disputed by the community representative, who insisted that at no time had Bodo dragged Day before any court.

“We are not in court. We are yet to take Leigh Day to court.

Leigh Day & Co. is just playing games to stall accountability from his services to the Bodo community claimants,” Sapira maintained.

BUHARI NEVER DIRECTED FUEL SUBSIDY REMOVAL, SAYS LAWAN of TUC, Mr. Quadri Olaleye, said the group was not against the removal of subsidy if it would yield positive results for the economy. He, nonetheless, expressed concerns over the palliative measures put in place by government to cushion the adverse impact of the proposed removal.

Speaking at the Annual General Meeting (AGM) and inauguration of the Independent Petroleum Marketers Association of Nigeria (IPMAN) in Abuja, he however, questioned government's sincerity over subsidy removal.

He said: "Please note that TUC is not against the removal of the fuel subsidy if it will yield positive results. Rather, we are inquisitive as to what the government has to offer following the removal.

"How can we trust the government and be certain that they will actually remove it this time around, because in the past, they have claimed to remove the so-called 'subsidy'.

"How can what has been removed be removed again?

Will there be construction and utilisation of modular refineries as the government has previously promised and failed to deliver?

"Will there be rehabilitation of existing moribund refineries? What will the government do to put an end to dependence on imported fuel? It is imperative to note these questions because we need adequate answers on what the government has to offer as failed promises from

the government have become the order of the day."

He said in the event that the subsidy was removed, the government should focus more on expenditures that are beneficial to the economy rather than projects that generate losses.

According to the TUC president, "There should be establishment of modular refineries and construction of functioning refineries in the country. Proactive committees must be set up to check, balance, and ensure successful execution of projects and to generally oversee activities.

"The moribund refineries must be active and we must put an end to the counterproductive acts of importing petroleum products when we can refine here and sell at a competitive price.

"You will agree with me that Nigeria has the capacity to meet these demands and even diversify like advanced countries but that will not happen because the current political class does not want it."

Earlier, the new IPMAN President, Alhaji Debo Ahmed, urged the management of the Nigerian National Petroleum Company (NNPC) Limited to ensure disbursement of outstanding briefing claims owed marketers.

He also identified current insecurity across the country, as major challenges confronting members in lifting petroleum products from depots and called for government's action to address the situation.

WEDNESDAY JANUARY 19, 2022 ˾ T H I S D AY

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NEWS

Bello: In First Two Weeks of January 2022, Bandits Attacked Niger Communities 50 Times Deji Elumoye in Abuja Governor Sani Bello of Niger State, yesterday, painted a more concerning situation in his state, when he claimed terrorists had attacked some communities in the state about 50 timeswithin the first two weeks of January 2022, leaving some 300 people dead.

He also said during the same period, about 200 people, including security personnel, were kidnapped.

“In January this year alone, we suffered not less than 50 reported attacks and loss of lives, between 1st and 17th January. Within the same period, not less than 300 communities have been invaded by bandits.

“The number of people kidnapped is 200, including three Chinese nationals. We also lost some security personnel. Their number is 25. Unfortunately, we lost about 165 civilians and 30 local vigilantes.

“So, it’s a very dire situation that we have been battling in the last few weeks since the beginning of this year,” he said.

Speaking with newsmen after briefing President Muhammadu Buhari on the security situation in thew state, the governor said the state was facing serious security problem.

Bello gave a breakdown of the attacks and their consequences on lives in the state while blaming the low response time to the attacks on the lack of access roads to the communities.

He, however, expressed optimism that with the new measures being put in place,

the security situation in the state would improve soon, stressing the need for the contiguous states to work together to stop the terrorists from moving from one place to another.

His words: “I came to visit Mr. President to give him an update on the security situation

in Niger State with regards to banditry activities, kidnapping, and cattle rustling among others.

“We had a very fruitful discussion. We were able to review some of the invasions in the state. Unfortunately, I cannot tell you all. In the last few days, there have seen a

lot of activities in Niger State.

Hopefully, in the next few weeks, we’ll see some relief with regards to banditry.

“I also gave a highlight on some of the challenges.

Of course, our size is a disadvantage, almost nine million hectares. We lost some

forests. But I’m very optimistic with the kind of zeal I have seen from our security agencies and all services. I’m very optimistic that the situation will be addressed. And, hopefully, we should get a very peaceful state within the shortest possible time.

OLAWUYI’S 50TH BIRTHDAY CELEBRATION...

L-R: The celebrant, Mrs. Kudirat Ajibike Olawuyi; Kwara State Governor, Malam AbdulRahman AbdulRasaq, and Member Representing Ekiti, Isin, Irepodun and Oke-Ero Federal Constituency of Kwara in the House of Representatives, Hon.Tunji Olawuy,i during Mrs. Olawuyi’s 50th birthday celebration in Lagos…recently

2023: INEC Hopeful of 2023: No One Can Force Me to Support Tinubu, Says Ojudu New Electoral Law Victor Ogunje in Ado Ekiti

Chuks Okocha in Abuja

The Independent National Electoral Commission (INEC) yesterday expressed the hope of the country getting a new electoral law following the assurances given by President Muhammadu Buhari and the leadership of the National Assembly. The Chairman of INEC, Prof. Mahmood Yakubu stated this at the first quarter stakeholders’ meeting with political parties in Abuja.

He officially informed the leaders of the political parties that the 2023 general election is just 396 days away, adding that 8,260,076 eligible Nigerians commenced the online pre-registration.

In his address at the meeting with political parties, Yakubu

said: “Undoubtedly, the year 2022 is going to be a very busy year for the commission and the political parties. The 2023 general election is just 396 days away. All the critical preparations must be concluded this year.”

“The Continuous Voter Registration (CVR) which commenced in June last year has entered the third quarter.

As at yesterday Monday 17th January 2022, a total of 8,260,076 eligible Nigerians commenced the online preregistration, completed the registration physically or applied for transfer to new voting locations, replacement of their Permanent Voters’ Cards (PVCs) or updated their voter information records as required by law.

Special Adviser to President Muhammadu Buhari on Political Matters, Senator Babafemi Ojudu, has said no criticism could force him to support the presidential ambition of a former Lagos State Governor, Asiwaju Bola Ahmed Tinubu in 2023.

Ojudu said he would not surrender to threats being issued by some people to him and members of his family, labelling him as a betrayal, adding that he remained a principled politician, who is able to make choices without coercion.

The Presidential Adviser said this in a statement, yesterday, in Ado Ekiti, Ekiti State capital, where he made his position known on the coming 2023 presidential run and Tinubu’s

robbers had blocked the expressway and hijacked a truck loaded with blue band products of Unilever Nigeria Limited.

According to him, the robbers allegedly overpowered the driver and motor boy, took them to the bush and tied them down before driving away the truck.

The PPRO said: “On the strength of the distress call, the DPO of Odogbolu Division, Awoniyi Adekunle, quickly led his patrol team to the scene, but the hoodlums had moved away from there before their arrival. They started tracing the criminals based on the description of the hijacked truck.

“Their efforts paid off when the truck was sighted at Nairaland area of the expressway moving towards Ijebu-Ode road.

The Postmaster-General (PMG) of the Federation and Chief Executive Officer of the Nigerian Postal Service (NIPOST), Adebayo Adewusi, yesterday disclosed that the unbundling of the agency is to be completed this month.

He made the disclosure at a media briefing in Abuja, where he spoke on the achievements of NIPOST under his stewardship in the past two years.

Responding to a question on

ambition.

He said he had worked with Tinubu as pro-democracy activists during the dark days of military before the advent of democracy and had always perceived the former governor as a leader and which he would always do, despite not supporting his presidential ambition.

“I and Bola Tinubu have come a long way and we have been there for each other. So, let no one use my acknowledgment of his good deeds and my refusal not to support him in his bid for Nigeria’s presidency to portray me as a betrayer.

“Tinubu remains my leader and I will forever cherish him and the contributions he made to my Organisation during our fight against the military. He, however, knows I don’t follow the herd.

I make my choices based on very rigid parameters. He will tell you I am very independent in my actions and ways.

“As a third year university student, my dad chose to be in NPN. I never considered the fact that he fed me and paid my school fees to join him in a party I despised. I went to UPN and became a youth leader.

“Tinubu will tell you that whatever and whoever Ojudu is committed to is in for 100 per cent commitment. Reasons I did rather face torture and possible death in General Sani Abacha’s detention than reveal certain things they wanted me to reveal about him.”

Ojudu urged, therefore, some of Tinubu’s supporters to stop the erroneous impression that everyone, who had related with Tinubu and disagreed with him

on this Presidential bid was a traitor and betrayer, describing such as puerile and arbitrary.

He added that contrary to widespread view, many of Tinubu’s associates were not made by the former governor, saying he was already making wave in the journalism world before meeting with the former governor.

“We were already made before meeting him and in the cause of relating, we gave one another a helping hand. As far back as 1992, when I came to know him, I was already one of the editors of a popular news magazine with a good standing too in the civil society.

“I walked out of my job, when Chief MKO Abiola requested I and my colleagues to apologise to General Ibrahim Babangida over a story critical of the regime.

FG to Complete NIPOST’s Unbundling Soon, Says Postmaster -General Police Arrest Suspected Hijackers, Oghenevwede when the unbundling of NIPOST private partnership (PPP) as one and other online transaction Ohwovoriole in into multiple companies would of the ways forward. Going-it- platforms.

Abuja Receivers of Goods in Ogun “It would interest you to note be completed, he said the boards alone, a solo approach to doing James Sowole in Abeokuta Operatives of Ogun State Police Command have disclosed the arrest of seven members of a syndicate specialised in hijacking trucks loaded with goods on the Sagamu-Ijebu-Ode expressway of the state.

The state Police Public Relations Officer (PPRO), Abimbola Oyeyemi, disclosed the arrest of the suspects in a statement yesterday.

Oyeyemi gave the names of the suspects as Onyegbuchi Nwafor, Idakole Benjamin, Ibrahim Musa, Abolade Shola, Ikem Ejimofor, Adebayo Jamiu, and Ayeye Edwin.

He said the suspects were arrested following a distress call received at Odogbolu divisional police headquarters on December 8, 2021, at about 3 a.m. that a gang of armed

of the companies were in place already and that the managements are to be inaugurated before January ending.

Adewusi said: “Unbundling of NIPOST is almost complete, with the inauguration of the boards and the managements to be in place.”

On the agency’s achievements under his watch, he said: “NIPOST management, under my leadership, identified public

business would be less efficient, especially at a time of resource crunch, and may be unsustainable.

“It then meant the unbundling of other non-core businesses through partnerships to meet customers’ needs and achieve diversification.

“Also, the NIPOST, under my supervision, has established its first digital centre in Enugu, which features computer-based training test (CBT) centre,

that the new addressing system, that is, the Digital Addressing System is being developed as a strategic infrastructure for national development.

“It will facilitate mail handling, identify locations precisely, ensure consistency in addressrelated databases and enable efficient services in government agencies, financial institutions, and businesses in a consistent manner.”

Matawalle Seeks Redoubled Efforts to Rescue Zamfara from Banditry Chuks Okocha in Abuja Zamfara State Governor Bello Matawalle, has charged government and its officials to redouble their efforts to rescue the state from banditry and kidnapping. He stressed the need for collaborative efforts to put Zamfara state back on track in terms of meaningful development.

In speech, at a retreat for the state executive council and other top government officials in Abuja, Governor Matawalle said the retreat is expected to significantly help in the entrenchment of harmony at workplace, collaborative synergy, good governance, sound leadership and proficient official communication.

According to the Zamfara

state governor, “As we enter the midterm of our administration, the task ahead is that of multiplying our efforts of building a new Zamfara state.’

He further said: “we must strategies to redouble our efforts in fighting banditry and place our state on the path of an enduring development by optimally utilising the resources at our disposal.This is a clarion call

for all of us to brace up to the great tasks ahead,” he added.

In a remark, Head of the Civil Service of the Federation, Dr. Folasade Yemi-Esan, commended Bello Matawalle of Zamfara State for convening a retreat for the state executive council and other top government officials in the bid to transform the public service for the prosperity of the state.

WEDNESDAY JANUARY 19, 2021 ˾ T H I S D AY

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NEWSXTRA

Declare Full-fledged War on Terrorists, Senate Tells Buhari Deji Elumoye, Sunday Aborisade and Amemeh Gabriel in Abuja The Senate, yesterday, asked President Muhammadu Buhari, to declare a fullfledged war on gunmen terrorising different parts of the country since they have been designated terrorists.

The red chamber made the request following the consideration of a motion entitled: “Recent bandit attack in communities in Shiroro Local Government Area of Niger State: A call for action”, and sponsored

by Senator Mohammed Sani Musa.

The upper arm of the legislature commended the president for ordering air bombardment on the

terrorists area of operation and also called on the federal government to declare a fullfledged war on the criminal elements since they have been declared as terrorists.

While calling on the federal government to establish a military base in Shiroro, the Senate said the arrangement would help to restore confidence in the security and safety of the affected communities, in addition to safeguarding the national asset located within the area, such as the Shiroro Hydro-electric power dam.

The Senate, therefore, directed the National Emergency Management Authority (NEMA) to provide relief materials and medical team to the victims immediately.

ACCEPT OUR CONDOLENCES…

L-R: Former Governor of Lagos State and Chieftain of All Progressive Congress, Asiwaju Bola Ahmed Tinubu, and President, Association for the Advancement of the Rights of Nigerian Shareholders, Dr. Faruk Umar duringTinubu’s condolence visit to the family of late BashirTofa in Kano…recently

Insecurity: Nigeria Risks Degenerating Osun APC Crisis Worries Party Chieftains in the state, it began predecessor, Rauf Aregbesola’s as Oyinlola.”

Disintegration, Says Clergy Yinka KolawoleinOsogbo legacies an unprecedented politics of administration was the first in According to the chieftain, in Omolabake Fasogbon The Supreme Head of the Cherubim and Seraphim Unification Church of Nigeria, His Most Eminence Somolon Alao, has expressed fear that Nigeria may be heading for disintegration given the depth of security challenges in the country.

He worried that if the challenges persist, Nigeria may end up like the defunct Soviet Union.

Alao, who spoke to journalists during his visit to the Chapel of Restoration of the Unification Church in Maba village in Ogun State recently, stated that Nigeria is already manifesting the indices that led to the disintegration of Soviet Union.

The cleric, therefore, urged Nigerians to avoid politics of bitterness, and rather, embrace peaceful coexistence to stem the

tide of insecurity, especially as elections are drawing closer.

According to him, “2022 is going to be a difficult one for the country. Unless urgent steps are taken, Nigeria is going to go the Soviet Union way.

“The various security challenges will get out of hands and this will spell doom for the country. Nigeria cannot continue like this.

“One can barely move round any part of the country now without fear of being killed or kidnapped for huge ransom which was not the dream of the founders of this country. Moving between Lagos and Ibadan now is almost impossible because of fear of being killed or kidnapped.”

See what Niger State has been turned into; we cannot continue like this. Unless urgent steps are taken, then we can only talk about hope for Nigeria.”

Airfares Crash as Airlines Record Low Passenger Traffic Chinedu Eze

Airfares in the country have dropped significantly, findings

by THISDAY have shown.

Late January to March every year is the period Nigerian airlines dread because it is characterised by low passenger traffic and low airfares.

THISDAY investigation revealed a slash in the cost of tickets from the average N65, 000 in December to N23, 000 presently.

For instance, Calabar to Lagos fares have come down to between N23, 000 and N25,

000; while Enugu to Lagos is still relatively high at N35, 000; Abuja-Lagos fares go as low as N28, 000 and the same with Lagos-Port Harcourt.

But Lagos-Warri and LagosUmueri, Anambra state fares are still high at N40, 000 to N50, 000.

During December the busiest routes were the southern destinations, especially the old eastern routes like Calabar, Uyo, Anambra (Umueri), Enugu, Owerri, Port Harcourt, Warri and Benin, where fares went as high as N120, 000 per ticket.

Azman Air Passengers Protest Cancelled Flight in Kano Ibrahim Shuaibu in Kano Passengers of Azman Air yesterday stormed the office of the airline in Kano in protest over the cancellation of the 7a.m. flight to Lagos.

The airline informed the passengers of the cancellation via e-mail few minutes to the scheduled departure.

Some of the passengers, who said they had international flights to catch in Lagos, were furious when Azman sent them the cancellation notice few

minutes before the scheduled departure.

One of the passengers told journalists under the condition of anonymity that: “Some of us were traveling to Lagos for connecting flights to London, Egypt, Dubai, Ghana and other destinations for medical reasons.”

The passengers mobilised themselves at the Mallam Aminu Kano International Airport (MAKIA) and stormed the airline’s office at Zaria road, Kano in protest.

As crisis rocking the All Progressives Congress (APC) in the Osun State might not have festered till date if fairness, unity and collective purpose wasn’t jettisoned by the administration Governor Gboyega Oyetola.

And the degenerating crisis is giving many chieftains of the party sleepless nights.

THISDAY investigations have revealed that due to controversies surrounding the emergence and eventual assumption of office of Governor Gboyega Oyetola, efforts were not spared to unite members of the APC political family in the state, However, rather than the Governor and his loyalists strengthening and rejuvenating the party for the consolidation of progressive

segregation and exclusivity against members of the party that brought him to power in 2018.

A source, who is chieftain of the party and is close to the two camps told THISDAY that party members who wanted to ensure that the crisis did not degenerate, at its earlier stage, formed The Osun Progressives (TOP), a caucus of the party in a bid to right the wrongs of the factional party chairman, Gboyega Famodun .

Also another top party chieftain in the state who also prayed not to be mentioned because of the height of the crisis said Governor Oyetola’s strong position not to associate with anyone who believed in his

the series of strokes he used to further divide the party.

He said: “Since the creation of Osun in August 27, 1991, Osun has been democratically governed with Osun West Senatorial District taking the first shot but ruling for just less than 24 months; Osun East Senatorial District ruling for eight years; Osun Central Senatorial District where Governor Oyetola hails from would have ruled for 15 and half years by the end of his tenure. With three Governors: Chief Bisi Akande, four years; Prince Olagunsoye Oyinlola, seven and half years; and Alhaji Gboyega Oyetola who would have spent four years at the end of his first term by 2022 being from the same Ifelodun/Boripe/ Odo-Otin Federal Constituency

2018, the agitation for the Osun West Senatorial District to produce the next governor was fierce and huge. It was so fierce that all party leaders, starting from the elders, Agba Osun caucus of APC, majority of the State Executive Council, and virtually all organs of the party were hell bent on “West Lokan Agenda.

“In spite of this clamour, the then Chief of Staff, Alhaji Gboyega Oyetola, was produced as the APC candidate for the state gubernatorial election,” he recalled.

The party leader noted that “decision alone fragmented the party such that a section of the party decamped to the ADP, costing APC at least 49,000 votes in the 2018 election.

2023: Presidency Must Shift to South for Nigeria to be Peaceful, Says Lawmaker Laleye Dipo in Minna The presidency of Nigeria must be shifted to the southern part of Nigeria in 2023 so that the country could have peace, political stability, social and economic growth.

This view was expressed by a member of the House of Representatives from Oyo State, Honourable Sina Abiola Peller, in Minna yesterday during a Peace

Advocacy Mission to Niger State and a visit to former Military President, General Ibrahim Badamasi Babangida (Retd) at his Minna uphill residence.

Peller, who fielded questions from newsmen after the visit held behind closed doors, declared that “everybody knows that the presidency should be in the south because if you are promoting peace you will understand that the Yoruba community are

agitating for a Yoruba nation, the Igbos are agitating for Biafra and you have Northern Nigeria that has been in position of presidency for an uninterrupted eight years of two terms. You should be able to take the presidency to the south if you want peace.

“For you to promote peace you should be able to take the presidency to the south. But you can do otherwise if you don’t want to promote peace,”

Peller said.

He, however, pleaded with the nation’s political stakeholders to put the unity and peace of Nigeria first and above any other consideration while taking critical and crucial decisions for the country.

The federal lawmaker called for “a change in the style of politics in the country” where a president is anointed before the election.

Kanu’s Arraignment on 15 Amended Charge Stalled Alex Enumah in Abuja The arraignment of detained leader of the proscribed Indigenous People of Biafra (IPOB) Nnamdi Kanu, on an amended 15 count charge was yesterday stalled following objection by his lawyer, Chief Mike Ozekhome, SAN. The federal government had on Monday, January 17, barely twenty four hours to

the resumed trial of Kanu filed an amendment to the alleged terrorism charge against the separatist agitator.

Although the judge had in last November adjourned to January 19, 2022 to hear all pending applications regarding the suit, it however brought forward the hearing to January 18, following request by Kanu’s lawyer, Ifeanyi Ejiofor.

However, when the case was

called, prosecution counsel, Shuaib Labaran, informed the court of an amendment to the charge and prayed that the court direct its registrar to read the fresh charge to the defendant.

In a swift response, a Ozekhome, who had earlier announced appearance for Kanu in the matter objected to the request.

He claimed that it would be unfair and against the interest

of justice if Nnamdi Kanu is allowed to take his plea on a charge he was only served yesterday, adding that the proof of evidence was also not legible to allow them respond appropriately.

Ozekhome then pleaded with the court to allow them meet with Kanu, discussed the fresh charge so that he can take his plea tomorrow.

Since the prosecution did not

Court Remands Woman for Allegedly Trafficking Ladies to Spain for Prostitution Wale Igbintade A Federal High Court (FHC) that sat in Lagos yesterday has remanded a 55-year-old woman, Mrs. Patricia Ekhoe Igbinovia, who was accused of trafficking ladies for prostitution, in the custody of Nigerian Correctional Services (NCoS), till January 21.

Justice Chukwujekwu Aneke

of the FHC, Lagos, made the order after the woman, who is also known as both Audu Mariam and Mama Bobby, was arraigned before the court on a six-count-charge filed by the National Agency for the Prohibition of Trafficking in Person (NAPTIP).

Addressing the court, the prosecutor, Ms. Becky Jibo, told

the court that the defendant, a resident of 9, Olajide Street, Off Cornelius Nzebuka Street, Pleasure, Oke-Odo, Lagos State, engaged in the alleged act in 2015, December 2016 and 2017 respectively.

Jibo told the court that the defendant on the years listed above trafficked some ladies from Lagos to Malaga, Spain,

for the purpose of prostitution.

Two of the ladies she allegedly trafficked for prostitution were Ms. Sandra Okizene Sanni, a.k.a Tracy and Sarah; Kem Olomo, a.k.a. Osato and Peace.

The defendant was alleged to have committed the offence with one Oyo, said to be at large.

WEDNESDAY, ͹΁˜ ͺ͸ͺͺ ˾ T H I S D AY

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WEDNESDAYSPORTS

Group Sports Editor: Duro Ikhazuagbe Email: duro.ikhazuagbe@thisdaylive.com

0811 181 3083 SMS ONLY

Eagles Go Full Throttle against Guinea Bissau to Round up Group Campaign Awaziem back to fitness, likely in starting line up Olawale Ajimotokan Nigeria’s Group D campaign at the AFCON 2021 in Garoua, Cameroon will be rounded off with the clash with Guinea Bissau at Stade Roumdé Adjia in Garoua at 8pm tonight.

With maximum six points from the victories against Egypt and Sudan, Coach Augustine Eguavoen and his wards are already assured of a Last 16 berth but are not ready to take their legs off the throttle as Guinea Bissau come to town to taste the firing powers of Super Eagles.

Versatile defender Chidozie Awaziem has been confirmed

by Super Eagles’ medics to have returned to full fitness, on the eve of the team’s final group phase game The athletic right back, who can also play in central defence, is likely to get a taste of AFCON action when the three-time champions take the pitch against the competition debutants

The Alanyaspor FC of Turkey player did not play any part in the team’s two previous games against Egypt and Sudan, and is keen to have a taste of the action in his second Africa Cup of Nations outing, having been part of the bronze-winning squad in Egypt 30 months ago.

Nigeria top Group D with 6 points and are insurmountable going into the last round of

matches, with three-pointer Egypt, who are second on the log and also with the arithmetic possibility of ending up with 6 points, having lost to the Eagles in their first match and therefore inferior to Nigeria on the headto-take rule that takes premium in team ranking here.

Eguavoen restated his team’s resolve yesterday: “There is no room for complacency. We want

to remain at the high level that we have found ourselves and that means putting in the solid shift that will continue to guarantee victory in our matches.”

In the second match of Group D, Egypt’s Pharaohs will contend with Sudan’s Falcons of Jediane.

The Sudanese have only one point and would be able to proceed if they snatch all three points from the seven-time champions.

TIT BITS (MATCH DAY 11) *From Eaglets to Super Eagles Ahead of last Group D match in Garoua against Guinea Bissau, five members of the Super Eagles at AFCON 2021 represent what progression in any developmental system should look like. Five players of the national team namely; Kenneth Omeruo (2009), Kelechi Iheanacho (2013), Taiwo Awoniyi (2013), Samuel Chukwueze (2015) and Kelechi Nwakali (2015) all graduated from playing for Golden Eaglets at FIFA U-17 tournament to the national team.

*CAF Boss Continues Off-field Activities at AFCON

RESULTS Malawi 0-0 Senegal Zimbabwe 2-1 Guinea Gabon 2-2 Morocco Ghana 2- 3 Comoros

(WED Jan 19) Egypt v Sudan (8pm) G’Bissau v Nigeria (8pm)

(THURS Jan 20) I’Coast v Algeria (5pm) S’Leone v E’Guinea (5pm) Gambia v Tunisia (8pm) Mali v Mauritania (8pm)

Super Eagles praying for victory as they take on Guinea Bissau tonight.

GhanaKnockedoutbyComoros

THE GROUPS GROUP A Team.

Cameroon B’Faso.

Cape Verde Ethiopia

P. 3.

3.

3.

3.

W 2.

1.

1.

0.

Team.

Senegal Guinea.

Malawi Zimbabwe

P. 3.

3.

3.

3.

W 1 1.

1.

1.

D 1.

1.

1.

1.

L 0.

1.

1.

2.

GF 7.

3.

2.

2.

GA 3.

3.

2.

6.

GD 4.

0.

0 -4.

PTS 7 4 4 1

GA 0.

2.

2.

4.

GD 1.

0 0.

-1.

PTS 5 4 4 3.

GA 2.

3.

5.

5.

GD 3.

1.

-2.

-2.

PTS 7.

5 3 1

GA 1.

1.

1.

3.

GD 3.

0 -1.

-2.

PTS 6.

3 1.

1.

Ghana’s Black Stars suffered a humiliating group-stage exit at the Africa Cup of Nations after the four-time champions were beaten 3-2 by debutants Comoros.

El Fardou Ben Nabouhane put the islanders ahead early on, and Ghana then went down to 10 men when Andre Ayew was shown a

straight red card.

Ahmed Mogni doubled the lead before the Black Stars fought back to make it 2-2.

However, Mogni tapped in his second in the 85th minute to inflict Ghana's first group-stage exit since 2006.

The result will go down as one

of the biggest shocks in Nations Cup history as Comoros scored at the finals for the first time and then went on to record their maiden victory.

Incredibly, the side ranked 132nd in the world now have a chance to reach the knockout stages as one of four best-ranked third-placed sides.

GROUP B D 2.

1.

1.

0.

L 0.

1.

1 2.

GF 1.

2.

2.

3.

GROUP C Team.

Morocco .

Gabon Comoros Ghana

P. 3.

3.

3.

3.

W 2.

1.

1.

0.

Team.

Nigeria Egypt G’Bissau Sudan

P. 2.

2.

2.

2.

W 2.

1.

0.

0.

D 1.

2.

0.

1.

L 0 0.

2.

2.

GF 5.

4.

3.

3.

L 0.

1.

1.

1.

GF 4.

1.

0 1.

Ghana’s Black Stars’ Captain, Andre Ayew (right) being consoled after he was sent off during the clash with Comoros. Left, Comoros players celebrating their famous win against the Black Stars

“33” Export Lager Rewards Fans in AFCON Engagement “33” Export Lager, the official beer of the Super Eagles has continued in its drive to galvanize support for the Nigerian national team even as they continue their hunt for honours at the ongoing Africa Cup of Nations in Cameroon.

The latest set of lucky fans have been rewarded with sets of Super Eagles jerseys and other mouth-watering prizes after coach Augustine Eguavoen’s men sealed their place in the Round of 16 with

a 3-1 win over Sudan.

“Every win deserves a fine reward and congratulation to our Match-Day 2 winners who predicted accurately within the shortest possible time before the match as stipulated in our rules #SuperTogether,” said a message that announced the winners on 33exportnigeriaInstagram page.

The brand has been rewarding participants since Match- day 1 and among the winners are; Oyekunle

*Algeria Obeying the Law of Gravity!

What goes up, must come down and that seems to be the statures of The Fennecs of Algeria after losing their unbeaten run last Sunday to Equatorial Guinea. It is a popular saying that ‘All good things come to an end one day’ but it seems too early should the defending champions get thrown out of the tournament at the group stage.

Before Sunday’s shock defeat

by Equatorial Guinea, the Fennecs last lost a match in October 2018 — a 1-0 reverse fixture against Benin in an Africa Cup of Nations qualifier — over the subsequent three and a bit year, they’ve established themselves as the top force in African soccer.

*Egypt’s Last Chance to Stay Afloat

GROUP D D 0.

0.

1.

1.

After last Sunday’s ‘football evangelism’ when CAF Boss, Dr. Patrice Motsepe, made a donation on behalf of his Foundation to a Catholic church in Yaounde, the business magnate yesterday visited about 50 Nigerian girls from the Minawao refugee camp from the far northern part of Cameroon.

The girls who are part of the football time at Minawao camp, watched Nigeria/ Sudan and Egypt/Guinea-Bissau matches and got an opportunity to see some of their heroes in action.

The event itself was courtesy of a partnership between CAF and UNHCR, an Agency of the United Nations Refugee Agency that aims to use football – Africa’s most powerful platform and prime entertainment – to bring hope to the continent and vulnerable people.

Kayode, Musab Aliyu Malumfashi, Olaiya Mathew Olumide and Chris Onyah all winners of Super Eagles win against Sudan.

While Oluchi Nwadioke, Maureen Ogochukwu, Edeh Nelson Oche, Emmanuel Ivie and Osayi Mathias were winners in the famous lone goal win against Egypt in the opening match in Garuoa.

Saturday’s win was on the heels of the earlier sweet victory recorded over seven-time African

champions, Egypt.

Since coming on board as the Official beer for the Super Eagles, 33 Export Lager which prides itself as one the longest-standing partners of the Nigeria Football Federation has been giving massive support to the national team on and off the pitch.

The Senior Brand Manager, “33” Export Lager, Aishat Anaekwe praised the doggedness of the Eagles in their games so far while

also reminding them of the ultimate goal in Cameroon.

She said: “We are all proud of what the Super Eagles have done so far against Egypt and Sudan, that is why we remain solidly behind them” “For the fans who have continued to keep faith in “33” Export Larger and of course the Super Eagles, we will continue to appreciate their loyalty with great prizes” she assured them.

Mohamed Salah and his Egyptian side have a date with history tonight in the face of elimination from the tournament when they play Sudan in the last Group match. This will be the sixth encounter between the two sides at the Africa Cup of Nations but Egypt hold the upper hand with three wins to Sudan’s one (D1). Their first four meetings took place between 1957 and 1970 whilst their last head-to-head dates back to 2008 with Egypt winning 3-0.

*Any Ansu Fati to Play against Super Eagles?

The Super Eagles face Guinea Bissau in a near-dead rubber group match at the ongoing Africa Cup of Nations in Garoua, Cameroon tonight. Guinea Bissau may not be a big brand in continental football but the country has already found a way into the record books.

When in 2019 Inter Milan crashed out of the UEFA Champions League, it was Barcelona’s Guinea Bissau player, Anssumane Fati that fired in the late winner that gave Barcelona a 2-1 win in San Siro.

-Compiled by Femi Solaja

WEDNESDAY JANUARY 19, 2022 • T H I S D AY

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Wednesday, January 19, 2022

TR

UT H

& RE A SO

N

Price: N250

MISSILE PDP to APC, Buhari

“The PDP handed over a $550bn economy (largest in Africa) in 2015, the exchange rate was N198/$, now under APC almost N500/$. In 2015, unemployment rate was 7.3% under PDP, it is now 33%, the highest in the world. In 2015 petrol was N87 per litre, now N165 and climbing. Debt servicing now takes over 98% of the budget.

The tales of woe is endless”--Chairman, PDP Governors’ Forum, Aminu Tambuwal, castigating APC and the President, for the current economic downturn and sufferings.

PATUTOMI GUEST COLUMNIST

Living with Fake News F

arooq Kperogi is a US based Nigerian academic and columnist. I quite enjoy reading him.

Years ago someone took a column he wrote and put my name on it. I could not fathom the motive but I kept explaining to all who asked that it was not written by me.

Each correction of impression made me feel like a man rejecting a pregnancy being hung on him by a lady he was sure he had never met.

When a year ago Peter Obi called me to get permission to attribute something from the article, I felt compelled to call Farooq to either begin paying me for clarifying the matter or to hire his own PR people.

As the conversation on the many fake stories on me, attributed to me or ostensibly by me, got to one particularly widely circulated piece, he was shocked that story was fake. It made the point that even the best of us can miss the tell tale signs in fake stories.

A close look at that story would show that in parts it was like reporting what I said by a third person and another part was written like I was writing a feature or opinion essay. The fakers are often in a hurry to cut and paste. Still, most people missed that inconsistency..

I once ran a workshop on fake news and pointed out that most of the stories deliberately skip some elements of the news style, the 5Ws and H. Who said what, where when, why and how . The cub reporter is schooled to capture these elements and where possible, sum them up in the introductory paragraph called the lead.

Such is it that how many in public life may be seen, can be based on falsehoods nowhere near the reality of who they are.

Achieving name recognition can prove to be a burden as some people either try to use it for their own gain or malign it out of envy.

Jimmy Cliff, the Reggae star from Jamaica who was arrested in Nigeria on a concert tour in the early 1970s made a record on the experience. It was titled : have you heard the news.

In the song he lamented that he went to Africa, ‘down in Nigeria ‘ but they threw me in jail.

Cause I got little fame’ A little fame can generate fake news and maliscious gossip lacking in factual basis.

When two years ago the BBC organized a conference on Fake News in Abuja I came in seething in anger to tell this story of how people commit murder by deliberately tainting the good name of others. That was until Professor Wole Soyinka spoke, illustrating his predicament,with evidence of false attributions and fake quotes attached to his name. At that point I decided I could not justify feeling so bad for my own more limited abuse, grave as somr of them were. I should be thankful, I thought then, and stay with the philosophy that truth and light invariably overcome lies and darkness.

But why do people do these things which scripture in the Judeochristian tradition considers murder, the deliberate damage of the reputation of another.

I recently gave a talk in the United States on freedom of expression and used my experience to discuss the subject.

Years before, I had been part of a US International Visitors programme, along with Shehu Sani and Abike Dabiri, which had Freedom of Expression as theme. In response to presentations, as we travelled across the country, I had joked about my recollections of the Fairness Doctrine which the US Federal Communications Communication

Buhari used as policy in the 1970s. It required that people who have been commented on get a right to reply to disputed viewpoints..

What this translated to was that graduate students like myself returning from the Library after midnight in the 1970s were treated to a series of right to reply clips as the TV stations kept those replies to what they broadcast at prime time , to midnight. At that time those who watched the original stories were usually asleep. You can imagine that those of us coming home late were denied good tv viewing and bored to sleep with the drab replies.

We were therefore relieved with the Reagan Administration era abrogation of the Fairness doctrine. I bought into the mantra that truth eventually always overcomes falsehood even if the falsehood persists for a long time.

The truth is that when falsehood lingers the issue is more about those who believe them than even those who created the lie. I found that thinking valid even in my experience, I told I the group I spoke to in Atlanta this week.

In four books, three of a biographical nature ; To Serve is to Live (1996. 2000) , Business Angel as a Missionary - Reflections of an Economic Growth Activist(2009); Why Not -Citizenship, State Capture, Creeping Fascisn, and Criminal Hijack of Politics in Nigeria( 2019 and 2021) and a case study in a Management book with case studies; Managing Uncertainty- Competition and Strategy in Emerging Economies(1998) I have provided more than adequate feedstock to dismiss innuendos from a particular run of Fake news regarding a part of my career which some ordinarily intelligent people still raise from time to time.

To refer to such suggests either the person cannot read, didn’t want to read or enjoys the primitive instinct of finding faults in others just like gossiping housewives with inferiority complex do so they can feel those who appear better of are not as sparkling. Sometimes, it seems like capricious ‘bad belle’ at others it plays out as ignorance sown by lack of discernment and slotfulness.

That subject relates to 8 spectacular years I spent as one of the youngest major corporate executives in industry in Nigeria. Perhaps my

best years.

I even cynically suggested to one journalist who once asked me ‘what about Volkswagen?’ that I could give him a hundred real faults and failings on which he could get me rather than innuendo that would make him look foolish before any well informed person.

So what about Volkswagen I asked him? Sure I worked there for 8 years. Did he hear a kobo went missing while I was there. Did he hear of a decision that was made while I was there that negatively affected its fortunes?. He stared like a moron. I sweetened my offering. If he could find one thing he would have done better than was done on my watch there, even theoretically, I was ready to put down 10 million Naira for him to collect. He could only stare sheepishly like a Zombie.

That innuendo is similar to one that $2.8 billion was missing from NNPC accounts when the currrent President was a Minister in Petroleum.

When asked how they got the information , a well known person said he heard it on a bus ride.

So what about Volkswagen? Volkswagen of Nigeria was one of five JV automobile Import Substitution Assembly plants. It was the less commercially favored because it made the common man’s car, the Beetle, than the ones that received government patronage for official cars and trucks. All of the plants, favored and not so favored went moribund under SAP a few years after I heft the service of the company.

I have never heard of a PAN or , Fiat/Iveco, ANAMCO or Steyr or Leyland executive asked what about the company. Pleased though to be asked no one has ever asked specifically about any thing.

To be sure , there were three CEOs, two Germans, and one Nigerian, after I quit. No one has ever asked them what about Volkswagen but they are quick to ask a person under who the firm still produced the question what about Volkswagen, meaning how come it stopped producing.So why would tthe fact that the factory stopped production be the fault of the man who left long before even though the fate lamented befell all the plants and many other private and public manufacturing ventures.

That these happened after I left without being pushed does not really matter.

I left because I said my 38th would not be spent on the job. And I said so the day I was named Deputy Managing Director.

Even with baseless innuendo being the basis of repeated murder by people who ordinarily see themselves as decent people I still believe that fake news ishould not be managed with draconian legislation.

I once told a story on a Whattsapp platform of how an elder I held in high regard told me that some friends of mine complained to him that I was ‘’eating alone’ shortly after I left the VW position. At that time I had been living in Dolpn estate after I left company property, without a generator to service the small townhouse even with attocious public power supply. I had been rationalizing it to be the result of a disposition in favour of the environment. In truth I could not afford a 17.5kva generator. I then approached a finance company for a lease/ purchase arrangement.

The MD of the finance company first thought I was joking but when he found Ireally could not put down the full amount he had them deliver the generator to the house. When I asked for the hire/purchase agreement paper he politely said he would pay for the generator himself. It

was his tribute to integrity.

The irony was not lost on me that it was the same day I was hearing of chopping alone from those who professed to be my friends and presumed I had to have profited beyond my fair wage.

Interestingly Alhaji Bamanga Tukur who I had been quite friendly with for years, was appointed Minister of Industties, just after I resigned. He brought much pressure on me to rescind my resignation. He insisted he needed me inside industry to help his work as minister. He was joined in the pressure by another family friend who had was appointed Finance Minister Prince (later Oba) Oladele Olashore. The latter thought the idea of going from an executive in Industry to being an academic a ridiculous assault on standard of living. At a point he insisted I move to Lead Merchant Bank which he founded, as an executive, if I was bored with Manufacturing.

I went to see Alhaji Bamanga to let him know the resignation was just a matter of principle.

When I was head hunted to go to troubled and struggling VWoN I had no interest in going there. I even recommended to the head hunters some other person.But the position remained unfilled for months. The late Mr Foluso Longe who led the search team eventually talked me into accepting the position to prove a professional point.

A drawer full of commendation letters from the German CEO attest to my stewardship. In his view, expressed in the European magazine, Manager, Klaus von Bothmer indicated the JV partners were ready to leave when I arrived.

Two years later they encouraged me to apply for the Deputy MD position. Even though I was 32 and the advert for the position said applicants had to be more than 35 years old.

The Recruitment committee led by Dr Michael Omolayole recommended me as top of the pack.

Some of the Nigerians on the board thought I was too young, at 32 and others thought I came from the wrong part of the country. I guess the Germans persuaded them that my track record made light the sentimental issues.

To play down views that I would be there forever because I was 32 I began to make statements that I would not be in the company at 38. Suddenly it was three months to my 38 birthday and I kept my word to myself by turning in my letter of resignation, to return to an academic career.

That write up about my VW transition, according to one or two who spoke to me after they read the story, brought them to tears because it had become hard to believe such levels of integrity were possible in Nigeria.

Alhaji Bamanga who is alive and well, reluctantly accepted my insisting on my keeping my word with the resignation.

Worried about my finances and how I was going to survive as a teacher, he got his then Secretary, Mrs Funmi Sanusi, to send me some of his own money to help with the transition.

I told these stories to my American audience partly to help them understand the new tribalism in America and how emotion contests the space with reason, relying on fake news to typecast opponents We can live with fake news and wicked assault on the character of others by the slothful ever willing to believe the worst in others. Light invariably shatters darkness..

Patrick Okedinachi Utomi, Political Econmist, and Professor of Entrepreneurship is founder of the Centre for Values in Leadership

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