MONDAY 15TH FEBRUARY 2021 by THISDAY Newspapers Ltd

In Bond Issuance, Fidelity Bank Raises N41.21bn Nume Ekeghe Fidelity Bank Plc has raised N41.21 billion through a 10year fixed rate unsecured subordinated bond at a 8.5 percent coupon rate due in 2031. The bank, in a statement yesterday, said the bond

issuance was fully subscribed given that total investor interest and commitments were N56.6 billion. This, it stated, adds to the impressive portfolio of landmark transactions structured by the bank, and underscores its capacity to

successfully execute debt capital market transactions. "The transaction is a landmark achievement in the Nigerian domestic debt market for being the largest corporate bonds ever issued by a Nigerian bank, including the deposit money banks and

merchant banks etc," it said. In December, the bank had announced plans to issue fixed income securities with 10-year tenor to support the growth and development of Small and Medium-sized Enterprises (SMEs), retail business as well as its technology infrastructure.

The bank conducted the debt issuance under its registered N100 billion bond issuance programme. The bonds are unsecured and subordinated, which will qualify as Tier II capital in line with the Central Bank of Nigeria (CBN) Guidance Notes

on Regulatory Capital for commercial banks in Nigeria. Speaking on the significance and success of the bond issuance, Fidelity Bank Chairman, Mustapha ChikeObi, was quoted to have said Continued on page 9

Okonjo-Iweala, Tinubu, Sanwo-Olu, Others Speak on Economic Revival at Ehingbeti... Page 8 Monday 15 February, 2021 Vol 26. No 9444. Price: N250

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Buhari Flays Nationwide Ethnic Violence,Vows to Protect all Groups Outrage as bandits kill 121 in Kaduna in 44 days Deji Elumoye in Abuja and John Shiklam in Kaduna President Muhammadu Buhari has flayed the reported cases of ethnic violence across the country, saying his government will protect all religious and ethnic groups in line with the provisions of the 1999 constitution of the Federal Republic of Nigeria as amended. Buhari, in a statement last night by his media

aide, Malam Garba Shehu, vowed that his government will protect all religious and ethnic groups, whether majority or minority in line with its responsibility under the constitution. Reacting to reports of the breakout of violence in some parts of the country by some ethnic and sectional groups, the president warned that the government will not allow any Continued on page 9

FG, Bankers’ Committee Seal Deal on National Theatre Renovation Engage Cappa D’Alberto to renovate structure

Obinna Chima The federal government and the Central Bank of Nigeria (CBN) as well as banks' chiefs under the aegis of the Bankers’ Committee yesterday signed a memorandum of understanding (MoU) to formally commence the renovation of the National Arts Theatre, Lagos. Also yesterday, the Bankers’

Committee and Cappa and D’Alberto Limited, the contractor to handle the project, signed an agreement to commence the first phase of the renovation, which is expected to end in 15 months’ time. Additionally, in order to ensure that the National Theatre and the adjoining Continued on page 9

GUBERNATORIAL CONDOLENCES... L-R: Zamfara State Governor, Hon. Bello Matawalle; Delta State Governor, Senator Ifeanyi Okowa; and Sokoto State Governor, Hon. Aminu Tambuwal, during a condolence visit to Okowa in Asaba...yesterday

Police Probe Lagos Protesters' Molestation, to Sanction Indicted Personnel...Page 5

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Group News Editor Ejiofor Alike Email Ejiofor.Alike@thisdaylive.com, 08066066268

Police Probe Lagos Protesters’ Molestation, to Sanction Indicted Personnel Constitution guarantees right to protest, says Atiku

Chuks Okocha in Abuja and Chiemelie Ezeobi in Lagos The police have launched a probe into allegations that people arrested on Saturday over the protest of the reopening of the Lekki Tollgate were molested. They warned that errant officials found to have violated the standard operating procedure would be punished. This comes as former Vice President Atiku Abubakar yesterday threw his weight behind the protesters at the Lekki Tollgate, stating that the 1999 Constitution as altered guarantees individuals' rights to protest. In videos and pictures

that had gone viral, the 40 #OccupyLekki protesters were arrested and some of them were beaten and stripped half naked. This generated an outrage with lawyers and other activists excoriating the police for the alleged maltreatment of the protesters. However, Lagos State Commissioner of Police, Mr. Hakeem Odumosu, condemned the alleged inhuman treatment meted out on the protesters, saying it breached the standard operating procedure of the police. Reacting to the outrage, Odumosu said he had ordered the Deputy Commissioner of Police, State

PDP Decries Escalating Violence Nigeria needs prayers, says Secondus Chuks Okocha in Abuja The Peoples Democratic Party (PDP) yesterday decried escalating sectional conflicts in various parts of the country, including the bloody ethnic clashes currently raging in Ibadan, the Oyo State capital. It also expressed concern about similar clashes in Benue, Taraba, Kogi, Plateau, Kaduna, Kano as well as other states. Its National Chairman, Prince Uche Seconds, called for prayers to save the country from collapsing. PDP, in a statement by its National Publicity Secretary, Mr. Kola Ologbondiyan, called on President Muhammadu Buhari to note that the once cohesive and economically thriving nation handed over to him in 2015 is fast collapsing in his hands due to his failure to effectively manage the economy. The party said Buhari’s perceived inability to administer the complex political and sectional nuances of the nation as well as manifest lack of capacity to confront terrorists, bandits and kidnappers was pushing the country towards the precipice. He said: "Our party grieves that under the anti-democratic and anti-people proclivities of the Buhari-led APC administration, our once thriving country has come under grave tension to the extent that citizens have become nervous, agitated, lost faith in the polity, with individuals, communities, states and geo-political zones resorting to self-determination as a way of survival." PDP said it was distressing that the Buhari-led administration cannot handle the fundamental responsibility of government to guarantee the security, safety of the citizens and peaceful co-existence and stability of Nigerians. "From Lagos to Borno, Oyo to Ebonyi, Imo to Katsina,

Plateau to Osun, Benue to Kano states, indeed across our nation, the tension is palpable; Nigerians are losing confidence in government. The corporate existence of our nation, which patriotic citizens have been labouring for, is now being threatened," the party said. PDP urged Buhari to end the divisive tendencies of the APC administration and to take urgent steps to guarantee peaceful co-existence in the country by ensuring strict adherence to extant provisions of the 1999 Constitution, especially regarding the federal structure and sensibilities. While calling for calm and vigilance, the PDP charged Buhari to unite the nation by ensuring justice in the face of infraction. The PDP stated that the nation is already distressed by unbridled violence, wanton killings and bloodletting by terrorists, bandits and, kidnappers, who the Buhari administration has failed to contain, and cannot stand the trauma of sectional conflict at this critical time. On his part, Secondus at the weekend lamented the state of the nation, saying that Nigeria is currently in distress and needs the prayers of all citizens. Secondus, while speaking during the victory thanksgiving/anniversary service in honour of Governor Douye Diri of Bayelsa State in Yenagoa, said it was only God who could rescue the country. He prayed that God, who brought Diri as governor will give him the grace to pilot the affairs of the state. He said: “Our country is in distress. And it’s only God that can take us out of the trouble we are in. “There is confusion; the economy is at the lowest level; that is why I urge everyone here today to remember our country in prayers. If not, we are in for it,” he added.

CID, Panti, Mr. Adegoke Fayoade, to analyse the video and bring to book the errant personnel. He said: “The attention of the Lagos State Police Command has been drawn to a viral video where some arrested #EndSARS protesters were being molested in a bus by some individuals after their arrest. “Piqued by this unprofessional and inhuman act, I have ordered the Deputy Commissioner of Police, State CID, Panti, DCP Adegoke Fayoade, to analyse the video and bring to book whoever that must have been responsible for the act.” He added that inasmuch as the command is resolute in enforcing all laws in the state, it will not deviate from the standard operating procedure of the police and the law in discharging its duties. He stated that the police would fish out those responsible for the molestation and ensure that

they are punished for their unprofessional conduct. Odumosu urged Lagos residents to be law-abiding and maintain peace, adding that the police and other security agencies will not allow any violence and breakdown of law and order in the state. Also yesterday, Atiku defended the rights of Nigerians to protest, stating that the 1999 Constitution and the African Charter on Human Rights guarantee it. Atiku, on his verified tweeter handle, said such protests as the Lekki Toll Gate are guaranteed in Section 40 of the 1999 Constitution as amended. He added that courts have affirmed the rights of Nigerians to protest while it is the duty of security agencies to protect protesters. He said: "The 1999 Nigerian Constitution, as amended (Section 40) guarantees the right of citizens to peaceful protest.

The courts have also affirmed that right. Anything contrary to that is not acceptable and stands condemned. "It is the security agents' responsibility to provide a secured conducive environment for citizens to protest peaceably in line with constitutional provisions and the African Charter on Human rights." Atiku also called for peaceful coexistence between herders and farmers. In a statement following clashes between Hausa and Yoruba traders in the Shasha area of Akinyele Local Government Area of Oyo State, he said God created Nigerians, irrespective of tribes and religion to live together for a purpose. The former vice president said the time for ethnic clashes had gone, adding that this is the time for Nigerians to live together. "Wherever God has destined us to live, we must bear in mind that we are Nigerians.

"Let us remember how the parents of this country have dedicated themselves to the creation of a united nation whose people will love each other and love peace," Atiku stated. He urged Nigerians not to ignore the brotherhood of living together. "Ethnic clashes between business people at the Shasha area of Akinyele Local Government Area of Oyo State have alarmed me, and of course we have to rebuke them because ethnic violence is disgusting," he said. Atiku called on the youths to continue to be lovers of peace and unity in Nigeria. “Let us stop looking at each other as enemies, and instead, look at each other as brothers and sisters whom God has given us one country, a source of pride. "The time has gone for inter-ethnic violence in Nigeria, now is the time to unite and use our talents to uplift our country in the eyes of the world," he added.

CONSOLING LKJ’S WIDOW... L-R: Widow of former governor of Lagos State, Alhaji Lateef Jakande, Abimbola; Speaker, House of Representatives, Hon. Femi Gbajabiamila; and former President Olusegun Obasanjo during a condolence visit to the Jakande family in Ilupeju, Lagos...yesterday

Clark is Alive, Hale and Hearty, Says PANDEF Deji Elumoye, Chuks Okocha in Abuja and Sylvester Idowu in Warri The Pan Niger Delta Forum (PANDEF) has dispelled rumours that its national leader, Chief Edwin Clark, is dead. The National Publicity Secretary of PANDEF, Hon. Ken Robinson, in a statement issued yesterday described the speculation as malicious falsehood aimed at causing confusion within its chairman board of trustees’ constituency. “PANDEF was inundated with anxious calls, all evening of February 13, 2020, inquiring about the state of health of its National Leader and

Chairman of the Board of Trustees, Chief Edwin Kiagbodo Clark. The anxiety of the inquirers has necessitated this release. “PANDEF wishes to state, assuredly, that Chief E. K. Clark is his normal healthy and ebullient self. The information making the rounds on some social media platforms is a concocted, malicious falsehood, ostensibly intended to cause confusion within the Chief’s teeming, multi-dimensional constituencies,” he said. The forum urged all friends and associates of the SouthSouth Leader to disregard the ugly rumour, stating Clark is alive, hale and hearty. “What is true, is that our

leader, soon to be 94 years old, did test positive for COVID-19 but had since been confirmed negative by health officials, after 14 days of isolation in his Asokoro, Abuja, residence”. The statement added that Clark, reacting to the perplexing story, last night, expressed his appreciation for the kindness of those calling from good hearts. According to the statement, Clark also used this instance to also thank all those, within and outside the country, who had been calling, in the last three to four weeks, upon hearing of the outcome of his COVID-19 test and urged all to join him in thanking GOD for his dramatic deliverance from the scourge.

PANDEF also said it gave glory to God, for graciously blessing its leader with salubrious longevity, to continue to bestow his God-given wisdom and leadership acuity, still very much needed, not only in the Niger-Delta Region, or the Southern-Middle Belt Alliance, but also, the entire country, Nigeria. PANDEF strongly implored operators and sponsors of online communication platforms, to maintain the highest professional standards, in their practice and endeavours, by authenticating their stories before hastening to publish, to avoid creating this kind of unwholesome and disconcerting situation.

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Okonjo-Iweala, Tinubu, Sanwo-Olu, Others Speak on Economic Revival at Ehingbeti Segun James President Muhammadu Buhari; Lagos State Governor, Mr. Babajide Sanwo-Olu; former Governor of Lagos State, Senator Bola Tinubu; and the former Minister of Finance, Dr. Ngozi Okonjo-Iweala, will be among the dignitaries that will speak at Ehingbeti, the Lagos Economic Summit, which will begin tomorrow. Other notable business leaders and political figures across the globe will also at the summit join the private sector in setting agenda for Lagos State towards the next decade. According to a statement issued by the Lagos State government, the summit is living-up to its reputation as Africa’s most practical and result-oriented private sector-led forum for socioeconomic and infrastructural development, with the quality

of speakers confirmed to mount the podium at the sessions Themed: ‘For a Greater Lagos: Setting The Tone For The Next Decade’, Ehingbeti 2021 has drawn about 150 speakers from across the world to discuss and deliberate on pragmatic optimization of the inherent opportunities in Africa’s 5th largest economy and offer perspectives on how to manage the peculiar socioeconomic landscape of Lagos State in the coming decade. Leading the array of speakers at the summit are Mo Ibrahim, Founder and Chair of Mo Ibrahim Foundation, Mr. Babatunde Fashola, Minister of Works and Housing; Mr. Ben Akabueze, Director General, Budget Office of the Federation; Dr. Ngozi Okonjo-Iweala, former Nigerian Minister of Finance; Dr. Akinwunmi Adesina, President, African

Development Bank (ADB) and Mohammed Yahaya, UNDP Resident Representative. While Buhari, Tinubu, and Catriona Laing, British Higher Commissioner to Nigeria will give Goodwill Messages, the Summit opening address will be delivered by Sanwo-Olu, while Dr. Obafemi Hamzat, the Deputy Governor and Mudashiru Obasa, Speaker, Lagos State House of Assembly will lead the session on strengthening Governance, Institution and Legislation. Other speakers at the summit include Jordi Borrut Bel, Managing Director, Nigerian Breweries; Prof.

Pat Utomi, Centre for Values in Leadership; Prof. Yinka David-West, Academic Director, Lagos Business School; Ambassador Ayoola Olukanni, DG NACCIMA; Muda Yusuf, Director General, Lagos Chamber of Commerce & Industry (LCCI); Mo Abudu, Founder, Ebony Life TV; Bolanle Austen-Peters, Founder, Terra Culture; Miss Ojoma Ochai. Director, Creative Arts (West Africa), British Africa and others. The three-day summit, which is structured into segments, will have subject experts speak on specific themes such as “Destination Lagos: Becoming the World’s

Best Investment Destination”, “Eko to the World: Shaping the Future of Trade and Economic Independence”, “Lagos, the Industrial Hub”, “Made in Lagos: Shaping the Future of Media, Entertainment, Culture and Tourism”, “Security, Law and Order (Balancing Regulation and Economic Growth)” and Citizens Participation in Governance”. Themes to be discussed at the conference include “The Role of Transparency, Institutional Effectiveness and Accountability in Governance”, “4th Industrial Revolution: The imperatives and prospects for Digital Economy”, “Digital Transformation for

Smart Cities”, “Unleashing Disruptive Innovation for Development”, Shaping the Future of Governance with Technology” and Roadmap to Shared Prosperity – Ensuring Inclusive Human Development”. “Our realities from 2000 when the first Ehingbeti held, exactly 20 years ago, have significantly changed. As a state, we now have to cater to the infrastructural needs of more than 22million population and ensure that Lagos remains on the path of continuous growth” said Mr. Sam Egube, Commissioner for Economic Planning and Budget and Co-Chair of Ehingbeti.

15 Sailors Kidnapped off Nigerian Waters Return to Turkey Emmanuel Addeh in Abuja with agency report Fifteen Turkish sailors kidnapped by pirates last month in the Gulf of Guinea arrived back in Turkey yesterday, with the ship's captain describing how they faced death threats and were held in a forest during their three-week ordeal. Reuters reported that the sailors hugged relatives as they arrived before dawn at Istanbul Airport, where they were greeted by Turkish Foreign Minister, Mevlut

Cavusoglu and other officials, two days after news of their release in Nigeria emerged. "We were in a forest. There were tough conditions. There were constantly armed men at our side," Mustafa Kaya, captain of the ship "Mozart" from which the crew were abducted, was quoted as saying by the Demiroren news agency. The Liberian-flagged container ship was headed to Cape Town from Lagos when it was attacked on Continued on page 10

REBIRTH FOR NATIONAL THEATRE... Minister of Information and Culture, Alhaji Lai Mohammed (left), and Governor, Central Bank of Nigeria, Mr. Godwin Emeﬁele, after the signing of the Memorandum of Understanding (MOU) for the handover of the National Arts Theatre, Lagos in Lagos…yesterday

Shell Reports Nigeria to W’Bank Panel over Oil Spill Dispute NNPC, Total target first oil in Ikike field October Emmanuel Addeh in Abuja and Peter Uzoho in Lagos Royal Dutch Shell Plc along with its Nigerian subsidiary, the Shell Petroleum Development Company (SPDC), has launched arbitration proceedings against the federal government over a long-running dispute with a Rivers community. The oil major’s Netherlandsregistered holding company and SPDC filed the case at the World Bank’s International Centre for Settlement of Investment Disputes (ICSID) on February 10. This is coming as the Joint Venture (JV) between the Nigerian National Petroleum Corporation (NNPC) and Total E & P targets to hit first oil in the $500 million Ikike Oilfield from the last quarter of 2021. A post on the website of the Washington-based World Bank dispute resolution body, indicated that the hearing of the case marked “Shell Petroleum N.V. and The Shell Petroleum Development Company of Nigeria Limited v. Federal Republic of Nigeria (ICSID Case No. ARB/21/7)” was still pending.

It listed the claimant's representative as Debevoise & Plimpton, London, UK and New York, NY, U.S.A, while the respondents representatives were named as the Attorney-General of the Federation and Minister of Justice, Abuja, Nigeria, Solicitor-General of the Federation and Permanent Secretary to the Federal Ministry of Justice, Abuja, Nigeria as well as the Federal Ministry of Justice. The World Bank’s arbitration body is a leading institution devoted to international investment dispute settlement, having administered the majority of all international investment as agreed to by participating states. It was set up under a multilateral treaty formulated by the executive directors of the World Bank to further its objective of promoting international investment. It was established in 1966 by the Convention on the Settlement of Investment Disputes between States and Nationals of Other States (the ICSID Convention) and has handled over 700 cases. According to the organisation, Shell brought

its claim against Nigeria under the bilateral investment treaty between the governments of The Netherlands and Nigeria. Bloomberg reported that the decision to drag the country to the arbitration panel followed the Anglo-Dutch energy giant’s unsuccessful efforts last year to reverse a court order instructing the company to pay compensation to a community for polluting its land. While the case’s victors say they are now owed more than N183 billion ($479 million), Shell contests that valuation and denies being responsible for the decades-old oil spill. “Given the history of this particular case, we are seeking protection of our legal rights from an international tribunal,” Bloomberg quoted a spokeswoman for Shell’s Nigerian subsidiary as saying in an emailed statement, without providing further details about the oil major’s case. All of Shell’s appeals against the ruling have been dismissed, most recently by Nigeria’s Supreme Court in November. Shell operates the oil block at the heart of the dispute, which is known as Oil Mining

Lease (OML) 11, in a joint venture with the NNPC, Total SE and Eni SpA. THISDAY's checks showed that it’s the same oilfield that has been in contention between the people of Ejema/ Ebubu in Eleme, the Rivers State government and the SPDC.

NNPC, Total target ﬁrst oil in Ikike ﬁeld October The joint venture between the NNPC and Total E & P is targeted to hit first oil in the $500 million Ikike Oilfield well from the last quarter of 2021. The Managing Director of Total E & P, Mr. Mike Sangster, stated this at the weekend when he visited the Executive Secretary of the Nigerian Content Development and Monitoring Board (NCDMB), Mr. Simbi Wabote, at its headquarters in Bayelsa. The Ikike oilfield is located in a water depth of 20m in the Oil Mining Lease (OML) 99, approximately 20 kilometres offshore Nigeria and is owned by a JV comprising Total E&P Nigeria (40 per cent, operator)

and NNPC (60 per cent). Total is expected to invest $500 million in the project, which is forecast to produce 32,000 barrels of oil per day when fully operational while the coating project would be executed by 100 per cent Nigerians workforce of over 300 direct personnel. Sangster said: “The company has made significant progress with the development of the Ikike oilfield and would record first oil before the end of 2021. “It had been difficult developing the project, particularly with the pandemic”, but added that “we are making progress and we appreciate the support from the NCDMB.” He stated that the company had operated in Nigeria for 60 years and is the only International Oil Company (IOC) that operates in the upstream, midstream and downstream sectors of the Nigerian oil and gas industry. According to him, the company developed the last three Floating Production Storage and Offloading (FPSO) platforms in Nigeria and Egina created new records, one of which is recording 40 million man-hours in-country.

Commenting on the Petroleum Industry Bill (PIB), which underwent public hearing in the National Assembly in January, Sangster, who is also the chairman of the Oil Producers Trade Section (OPTS), the umbrella body of major oil producers, urged federal legislators and policy makers to ensure that the fiscal provisions in the law are fair to key stakeholders, so as to stimulate new investments in the industry. Wabote, in his comments, charged the International oil and gas companies to emulate Total E&P in sponsoring new projects and refuse to be deterred by the delayed passage of PIB. Wabote said Total E&P was the only international operating company that had taken Final Investment Decisions (FIDs) and sanctioned major oil and gas projects in recent times in Nigeria despite the delayed PIB. While expressing confidence in the determination of the National Assembly to pass the PIB after being delayed for over 15 years, Wabote encouraged other IOCs to forge ahead with their new projects.

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PAGE NINE BUHARI FLAYS NATIONWIDE ETHNIC VIOLENCE, VOWS TO PROTECT ALL GROUPS ethnic or religious group to stoke up hatred and violence against other groups. He condemned such violence and gave assurances that his government will act decisively to stop the spread of any such violence. Buhari appealed to religious and traditional leaders as well governors and other elected leaders across the country to join hands with the federal government to ensure that communities in their domain are not splintered along ethnic and other primordial lines.

Outrage as Bandits Kill 121 in Kaduna in 44 Days Meanwhile, with 121 people killed in Kaduna State by bandits from January 1 to February 13, the Southern Kaduna Peoples Union (SOKAPU) and the Kaduna State chapter of the Miyetti Allah Cattle Breeders Association of Nigeria (MACBAN), have expressed outrage over the incessant killings and proffered different solutions to the problem. In separate interviews with THISDAY, SOKAPU advocated collaboration between government and communities in crushing the bandits, while MACBAN insisted on “reconciliation and amnesty” for the hoodlums. Official casualty figures from daily security report by the Kaduna State government indicates that a total of 121 people have been killed in

various communities by bandits in the 44 days under review. The reports also indicated that many people were either injured or abducted, while some houses and shops were burnt. The reports also showed that the most affected areas are communities in Birnin Gwari, Chikun, Giwa and Igabi Local Government Areas of the state. The attacks occurred almost on a daily basis, either at night or in broad daylight, even as security agents continue to raid the bandits' camps, "neutralising" many of them. Governor Nasir El-Rufai had recently kicked against the suggestions that the bandits are granted amnesty as a solution to ending the killings. A prominent Islamic cleric, Sheikh Ahmed Gumi, who recently visited the bandits in their forests in Kaduna and Zamfara States had proposed amnesty for the bandits to end the killings. However, el-Rufai while, rejecting such proposal, said Kaduna State was at war with the hoodlums who must be eliminated. The Commissioner for Internal Security and Home Affairs, Mr. Samuel Aruwan, did not respond to a text message on whether there are new strategies to stop the endless killings. But the spokesman of the Kaduna State Police Command, Mr. Mohammed Jalige, told THISDAY at the weekend that the police and

other security agencies are “on top of the situation.” According to him, the police commissioner has ordered the deployment of more police personnel in areas affected by banditry. Asked if there are new strategies to tackle the bandits, Jalige said: “The Commissioner of Police has ordered the deployment of police personnel in the affected areas. “Precisely, last week, some mobile police personnel were deployed in Birnin Gwari Area Command so as to checkmate the activities of the hoodlums that have been perpetrating a lot of crimes there.” Jalige added that the police, the army and other security agencies are putting in their best to tackle the banditry. “We are on top of the situation - the police, the army and other security agencies are putting in the very best. “What we want from the general public is information about the whereabouts of the bandits so that we will be able to intercept and destroy their plan,” he said. However, SOKAPU expressed outrage and advocated collaboration between government and communities in crushing the bandits. In a telephone interview in Kaduna yesterday, the spokesman of SOKAPU, Mr. Luka Binniyat, stated that if the Kaduna State government is serious about ending the killings and abductions by

bandits, communities should be empowered to work with security agencies in fighting the criminals. Binniyat said: “If the Kaduna State Government is serious about ending the mass slaughter, kidnapping and destruction of homes and property of its citizens by armed Fulani herdsmen, who the media is window dressing as ‘bandits,’ it is a very simple matter, not rhetoric.” He added that the Southwest has shown the way, as the marauders are fleeing away from Amotekun, the regional vigilante force of the Yoruba nation. He urged the Kaduna State Government and other states in the North-west to “empower communities by training the teeming and ever willing youths on basic defence strategy and provide them with non-assault weapons allowed by law. “If Civilian JTF is allowed in the Boko Haram-infested North-east states, why is a similar outfit forbidden in Kaduna State, which has become the headquarters of kidnapping and violence in the North today?” He said the youth, especially from the over 100 communities that have been sacked by killer herdsmen, were ready to flush out the criminals. “The truth is that the situation is getting worse as thousands of herdsmen are fleeing southern states into the warm embrace of local Fulani in Southern Kaduna.”

Citing a publication, he stated that Laduga grazing reserves, in Zangon Kataf Local Government Area, in Southern Kaduna, has in the past one week received 4,000 Fulani herdsmen. According to him, SOKAPU believes that if a fraction of the millions spent daily on maintaining the military and paramilitary in the war against the bandits are used to train youth volunteers, they can get rid of the bandits in Kaduna State. He lamented that attempts to pursue fleeing armed herdsmen who committed atrocities against communities have been criminalised as 'self-help,’ adding that the youths are always rounded up and arrested by soldiers, especially if any firearm is found in their possession. Binniyat said: “As long as this attitude of government continues, there is little hope in ending this violence.” However, in his reaction, spokesman of the Kaduna State chapter of MACBAN, Mr. Ibrahim Bayero, said banditry had become a serious problem in the state, and there should be reconciliation and amnesty for the bandits. According to him, since the government cannot fight the bandits, it should reconcile with them. “There is a serious problem in Kaduna State. These bandits, the way we see it, the security personnel are not ready to overcome it. Let there be an amnesty to the bandits,” he said.

He also called on el-Rufai to withdraw his statement rejecting amnesty for the bandits and threatening to kill them. “Let discussions continue for amnesty because that was the situation in the Niger Delta who were sabotaging the nation’s economy,” Bayero stated. He added that el-Rufai was the same person who claimed that he did not have power and did not control the military, and the police, saying it is a federal government affair. Bayero said: “What he is saying is different from what he had said before. What we are saying is that since you cannot fight with these people, reconcile with them. “The governor said his hands are tied and cannot afford to fight them because the military and police are not under him. “Now he is telling us that they should go and kill them. But in many years now, how many has he killed? What we the Fulani that are in the bush are saying is that instead of the security personnel to kill the bandits, they are killing innocent Fulani because they don't know the difference between innocent Fulani who are rearing cattle in the bush.” He urged the governor to withdraw the statement, stressing that the governor must have been misled by somebody. “I don't believe it is his idea, it is somebody's idea,” he said.

people would be engaged in different sections of the centre when the Signature Cluster is completed, with anticipated multiplier effect of other job opportunities. “The fashion building is a full-fledged apparel production facility with textile showroom, retail and photography spaces and teaching laboratories “The music building will house recording studios with all front and backend spaces and facilities. An amphitheatre has been designed to adjoin the music hub in the master plan. “The film facility consists of stage set-up areas as well as all back-end spaces necessary for full production of films. “The information technology facility consists of co-working and co-living spaces, training facilities and indoor and outdoor breakout clusters, all carefully designed to ensure that interface with the creative users is enhanced,” Emefiele added. He said the Bankers’ Committee embarked on the project because of the

rapid growth recorded by the creative sector over the years. “This project will no doubt bring considerable benefits to all Nigerians, especially the youth who are the reason and inspiration behind this initiative. The tenacity of our youth is highly commendable and admirable and has reflected in the economic returns of the creative industry. Their activities, through the music, film and fashion industry, have also brought global acclaim to Nigeria,” Emefiele said. He said contract for the second phase of the project would be awarded in the next four weeks, while work would be going on concurrently on different areas of the edifice. The intention is that before the end of President Muhammadu Buhari’s tenure in 2023, the entire project would be completed. Responding to a question on the cost of the first phase of the project, Emefiele said: “The first phase will cost about N21.3 billion. I have heard criticism from

different places that the cost is too expensive. But if anyone is interested, we would make open the bills of quantity so that you will know how painstaking the consultant went in pricing this work. “We are not afraid of the numbers, come and see and if possible, we would publish the bills of quantity for everyone to see. There is nothing for anybody to hide.” Governor of Lagos State, Mr. Babajide Sanwo-Olu, said on completion, the project would lead to a transportation solution, urban regeneration and a total transformation of the neighborhood.

rating of A- by Agusto, and A by Datapro and will be listed on both the Nigerian Stock Exchange (NSE) and FMDQ Securities Exchange Limited. Fidelity Bank is a fullfledged commercial bank operating in Nigeria, with over 5.7 million customers who are serviced across its 250 business offices and various other digital banking channels.

The bank is focused on select niche corporate banking sectors, Small and Medium Enterprises (SMEs) and is rapidly implementing a digital-based retail banking strategy, which has resulted in annual double-digit growth in savings deposits in at least seven consecutive years while over 50 percent of its customers are now enrolled on its digital platforms.

FG, BANKERS’ COMMITTEE SEAL DEAL ON NATIONAL THEATRE RENOVATION entertainment hubs retain their ambience upon completion, the Ministry of information and the CBN/ Bankers' Committee have also signed an MoU with a facility manager to manage the building complex. While Cappa & D’Alberto Limited is the main contractor, the Electrical subcontractor is Nairda Limited while the mechanical subcontractor is VACC Limited. The agreements were signed about seven months after the federal government handed over the facility to the committee. Minister of Information and Culture, Alhaji Lai Mohammed, yesterday said at the signing of the agreements in Lagos that the project showed the commitment of all parties involved towards giving the facility a facelift. According to him, when completed, the National Theatre would be the number one event centre in Africa. He said there would also be the development of clusters to support the creative industry.

“Not only will the National Theatre be restored, there would not be a single job loss and more jobs would be created during the construction of the facility,” Mohammed said. CBN Governor, Mr. Godwin Emefiele, who is the Chairman of the Bankers' Committee, said the idea behind the project, christened ‘Lagos Creative and Entertainment Centre,’ was to restore the glory of the iconic building by aligning most of the fabric, equipment and facilities in the building with the aesthetics of the 21st century and secondly to develop an ecosystem of creative hubs on the adjoining 44-hectare parcel of land. The new facility would complement and enhance the National Arts Theatre, he said. According to him, the Bankers’ Committee is funding a prototype cluster located within the National Arts Theatre, a development which we have labelled the ‘Signature Cluster.’ “This facility will be

a convenor - providing space, support network, business development and community engagement for the creative, cultural and technology sectors. "The Signature Cluster will consist of a building each for music, film, fashion and information technology verticals. In addition to these, a welcome/visitor’s centre, police and fire stations and structured parking for up to 500 vehicles will be built,“ he added. Emefiele stated that the 44-hectare site adjourning the National Theatre would be developed and utilised for the development of purpose-built creative hubs for the music, film, fashion and information technology. He said the aim was to deliver a successful creative and entertainment city that would encourage additional investment into Nigeria’s creative industry. According to him, the anticipation is that there will be at least 10,000 direct and indirect jobs created during the construction phase and over 25,000

IN BOND ISSUANCE, FIDELITY BANK RAISES N41.21BN that the bond issuance demonstrated confidence in Nigeria’s debt market. “It also validates the continued investor confidence in our corporate strategy and aspirations, strong corporate governance structure and solid and stable executive management team with robust history of superior financial performance and returns”, Obi said. In her comments, Fidelity

Bank CEO, Mrs. Nneka Onyeali-Ikpe, said proceeds from the transaction would be utilised to support growth in the issuer’s risk assets in SME and retail business as well as investments in technology and retail infrastructure. This, Onyeali-Ikpe added, was in line with the bank’s tier-I aspirations. According to her, the bank's business fundamentals have remained strong despite

the challenging economic environment occasioned by the coronavirus pandemic and the attendant recession. “The successful bond issuance highlights the confidence in the Fidelity brand, as well as our capability to expand our funding sources and deliver innovative financial services to our esteemed customers”, she stated. The issue was assigned a

TOP GAINERS NGN NGN UPDC 0.07 0.80 LINKASSURE 0.05 0.59 JAPAUL 0.06 0.71 AFRINSURE 0.02 0.24 UNITYBANK 0.06 0.71 TOP LOSERS NGN LLIVESTOCK 0.03 2.03 NEMINSURE 0.22 2.05 BUACEMENT 5.70 73.30 SOVREINSURE 0.02 0.26 DANGCEMENT 8.00 220.00 HPE Nestle Nig Plc ₦1,450.00 Volume: 395.623 million shares Value: N5.190 billion Deals: 5,321 As at Friday 12/2/2021 See details on Page 37

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NEWS

Influx of Psychotropic Drugs Fueling Terrorism, Insecurity, Says NAFDAC Threatens to prosecute clearing agents, importers Onyebuchi Ezigbo in Abuja The National Agency for Food and Drug Administration and Control (NAFDAC) has linked the current challenge of internal security in the country to uncontrolled influx and use of psychotropic medicines such as tramadol and other chemicals. The agency warned that henceforth it will not hesitate to drag any importer or clearing agent found to be involved in fraudulent activities at the country's ports before the court. The Director-General of NAFDAC, Prof. Mojisola Adeyeye, gave the warning in Abuja at a virtual sensitisation workshop organised by the agency for stakeholders in the export and import trade activities at the nation’s ports which included National Association of Chambers of Commerce, Mine, and Agriculture (NACCIMA); Manufacturers Association of Nigeria (MAN); Nigeria Customs Service, Standard Organisation of Nigeria (SON) and multinationals amongst others. As part of the agency's efforts at strengthening its quality control systems, Adeyeye disclosed that NAFDAC had intercepted

a large consignment of over 200 containers of fake and substandard pharmaceuticals that were intended to be cleared from the nation’s ports and borders. According to her, these products could have been consumed by Nigerians with adverse health implications; but were intercepted with collaborative efforts of the Nigeria Customs Service, other security and sister agencies. A statement issued yesterday by the Resident Media Consultant of the agency, Mr. Sayo Akintola, quoted Adeyeye as having warned clearing agents and importers operating at the nations ports that the era of fraudulent activities is over in view of the need to safeguard the health of the Nigerian populace and the economy. On the growing concern about the influx of unregistered products, Adeyeye blamed the uncontrolled influx of fake, substandard, and unregistered products which negatively impacted on the society in terms of public health and safety, security, and terrorism on the absence of NAFDAC at the nations ports from 2011 as a result of an order by the then Minister of Finance.

She said: "the challenge of internal security within the country was traced to uncontrolled influx and use of psychotropic medicines such as tramadol and chemicals that could be diverted for terrorist activities," adding that the issue led to the redeployment of NAFDAC officials back to the ports in 2018. Speaking on the activities of NAFDAC since its return to the country's ports of entry, the DG said that NAFDAC is conscientiously working towards assisting stakeholders to achieve regulatory compliance by ensuring that all regulatory requirements are made transparent and accessible to stakeholders through the availability of regulations, guidelines, tariff, and process requirements on the NAFDAC website. ‘’I have also ensured that we maintain transparency and continue the implementation of the Quality Management Systems in our Ports processes. This has led to a review and update of existing Standards Operating Procedures (SOP) and implementation of strategic QMS activities for ISO 9001-2015 certification and entrenchment of WHO Global benchmarking (ISO 9004) across all the Airports,

Seaports, and land borders,” she said. The NAFDAC boss added that she has also gone further to ensure that the Clean Report of Inspection and Analysis (CRIA) scheme was strengthened for the purpose of establishing the quality and safety of regulated products before they are shipped from China and India to Nigeria. She disclosed that the agency has since March 1, 2020; when it commenced the new phase of the CRIA scheme, prevented the export of over 40 pharmaceutical and food products that failed laboratory analysis into Nigeria. She vowed to continue to strengthen the scheme to better improve services to Nigeria Importers and ensure that only safe and quality regulated products are available for distribution. Adeyeye however, said that NAFDAC would not tolerate any unprofessional act from any of its stakeholders be it importers or clearing agents. She also stated a situation whereby agents and possibly with the connivance of importers engage in falsification of NAFDAC documents will not be tolerated nor treated with kid gloves any longer. She urged importers to

always ensure that they make it their responsibility to initiate clearance of their goods. “We shall take all legal means as an agency set up by the law of Nigeria to prosecute any erring stakeholder’’, she said. The NAFDAC boss further advised importers to desist from entrusting the entire process of clearance of their consignments to the agents, stressing that whenever the agents run into trouble with the regulatory authorities, they would always want to cut corners, leaving the importer in the lurch at the end of a botched transaction as a result of failure to meet the requirements of the Agency. On the innovations introduced by the agency, Adeyeye said that NAFDAC has deployed various devices that will ensure auto verification of documents presented to the agency during clearing, She said this will enable the agency to verify the true status of clearance of regulated products ‘’and ensure that we reward clients with low risk profile’’. The NAFDAC DG however, advised all importers and clearing agents to ensure that they complete every clearing

transaction with NAFDAC up to the point of generation of NAFDAC Electronic Release Notices. She further stated that she has directed that all NAFDAC processes that affect trade must be automated and readily available to stakeholders. “This is evident in the online processing of approvals, certificates, permits, and authorisations issued by NAFDAC. We, therefore, fast-tracked our activities on the National Single Window for Trade which made NAFDAC electronic licenses to be processed on the Portal,” she said. She added that the agency also went further to ensure that its electronic licenses were integrated with the Central Bank of Nigeria Form M portal so that with just an Approval Reference number you are able to activate your NAFDAC e-license for Form M processing. According to her, the agency has gone a step further to ensure the availability of the Ports Inspection Data Capture and Risk Management System (PIDCARMS) as a full online processing portal for the clearance of goods at the ports.

British Minister Seeks Action on Nigeria’s Environmental Challenges Emmanuel Addeh in Abuja President-designate of the 26th United Nations Climate Change Conference of the Parties (COP26), Mr. Alok Sharma, has visited Nigeria to discuss how the United Kingdom can work with Nigeria to address its climate change challenges. In his first visit to Nigeria in that position, Sharma who met leaders from government, the private sector and civil society, stressed the need for urgent climate change action ahead of the UK-hosted COP26 summit in November in Glasgow. He added that the COP26 summit will bring parties together to accelerate action towards the goals of the Paris Agreement and the UN

Framework Convention on Climate Change. Sharma’s visit to Nigeria, he said, was part of a series of engagements between the UK and Nigeria and demonstrates continued cooperation ahead of the meeting. Among those visited by the British minister were Vice President Yemi Osinbajo, Minister for Foreign Affairs, Geoffrey Onyeama, Minister of Environment, Muhammad Mahmood, Minister of State for Environment, Sharon Ikeazor and the Minister of Finance, Zainab Ahmed. As part of his itinerary, Sharma also met Governor of Ekiti State and current Chair of the Governors’ Forum, Mr Kayode Fayemi, President of Globe Nigeria, Samuel Onuigbo, and Ms Damilola

Ogunbiyi, CEO and Special Representative of the UNSG for Sustainable Energy and Co-Chair of UN Energy. He also held meetings with the Deputy Secretary-General of the United Nations and Chair of the United Nations Sustainable Development Group, Amina Mohammed and met young environmental activists working to raise awareness about the risks of climate change. Speaking, Sharma underlined the UK’s commitment to championing action to avert, minimise and address the loss and damage suffered by communities vulnerable to climate change. He welcomed recent climate-positive steps Nigeria has taken, including progress on electricity sector reforms

and the removal of the fuel subsidy and incorporating the solar home systems into Nigeria’s Economic Sustainability Plan. He also welcomed the positive steps in signing up to the Global Ocean Alliance, the Commonwealth Clean Ocean Alliance, the Leaders’ Pledge for Nature, ratifying the Doha Amendment to the Kyoto Protocol and enabling the Amendment come into force and participating in the COP26 Energy Transition Council. Sharma who used his high-level meetings to discuss how Nigeria could position itself as a climate leader at COP26, suggested that the country should submit a more ambitious Nationally Determined Contribution

(NDC) by April 2021 with strengthened mitigation and adaptation measures. He also advised on issuing more green bonds, submitting a long-term strategy ahead of COP26, setting out a lowcarbon pathway to net zero, considering making political commitments before COP26 on the COP26 campaigns on adaption – by issuing an Adaptation Plan including funding needs and energy transition – by progressing the on-grid solar deals. “As the incoming COP presidency, the UK takes its role seriously and seeks to raise ambition to tackle climate change globally. “I’ve come here to meet your political and civil society leaders to discuss and see first-hand some of the many

climate change vulnerabilities Nigeria faces. “These include deforestation, rising temperatures and flooding, as well as the need to transition from oil to cleaner energies that will sustainably serve what is projected to be the world’s third most populous country by 2050,” he said. British High Commissioner to Nigeria Catriona Laing, also speaking, said: “Climate change remains a global concern that requires collective efforts, and this visit underlines the UK’s support for Nigeria in its battle against climate change, while highlighting some of the important work we have already done together to protect livelihoods, lives and the planet."

According to the International Maritime Bureau (IMB), in its 2020 Annual Piracy report, West Africa’s Gulf of Guinea recorded an unprecedented increase in piracy attacks last year. The IMB reported that 135 crew members were kidnapped from their vessels in 2020, with the Gulf of Guinea accounting for over 95 per cent while a record of 130 crew members was kidnapped in 22 separate incidents. Last year, the federal

government said it was launching a $195 million Deep Blue Project to tackle all the emerging security challenges in its maritime domain, adding that the project will be completed by March , 2021. The government stressed that the Integrated National Security and Waterways Protection Infrastructure, otherwise known as the DBP will comprehensively address insecurity and criminality in Nigeria’s territorial waters and exclusive economic zone.

15 SAILORS KIDNAPPED OFF NIGERIAN WATERS RETURN TO TURKEY January 23, 160 kilometres (100 miles) off Sao Tome island, maritime reports showed. One Azeri sailor was killed in what the crew described as a sophisticated and wellorchestrated attack. "We didn't experience physical violence but they exerted psychological pressure during the negotiations. They said 'we will kill you if your company does not do what we want'," Kaya said. Kaya added that at the time of their abduction the

crew had locked themselves in a secure room but that the pirates had forced their way in after a five-hour struggle. "They were constantly opening fire, firing randomly inside. At that time one of our colleagues died. He was shot in the belly. We are very sad," he said. The crew was finally taken by boat and released at a safe place specified by the company. Their release came two weeks after the attackers made contact to discuss a ransom. After their release, Levent

Karsan from Istanbul-based Boden Shipping said that the sailors were all in good health and that it was not a political kidnapping, but solely aimed at getting a ransom, with talks handled by a team based in Hamburg. “This wasn’t a political kidnapping,” Karsan said, adding “This kind of kidnapping happens in that region unfortunately and is completely aimed at getting ransom”, before urging the United Nations to tackle piracy in the region. Earlier, Turkish Foreign

Minister, Cavusoglu disclosed that a British company had handled negotiations, and added that Turkish shipping companies “must learn a lesson from this and work together to make sure this doesn’t happen again.” The Turkish ship was attacked last month, off Nigeria’s Gulf of Guinea coast, killing an Azerbaijani citizen, and kidnapping 15 sailors, with reports stating the attack, happened way offshore compared to other attacks.

MONDAY FEBRUARY 15, 2021 • T H I S D AY

MONDAY FEBRUARY 15, 2021 •T H I S D AY

MONDAY FEBRUARY 15, 2021 • T H I S D AY

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COMMENT

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

BANDITRY, KIDNAPPING AND ARMED VIOLENCE Samuel A. Orovwuje canvasses a national dialogue on the security problem

“If the misery of the poor be caused not by the law of nature, but by our institutions, great is our sin” – Charles Darwin

ecurity is vital to our existential peace and personal fulfillment in life. The build-up of banditry, kidnapping and armed violence has put millions of Nigerians in a state of gloom and despondency. The Nigerian state continues to grapple with many development challenges and the fallout continues to disrupt peace and devastate lives and livelihoods, just as it is taking a toll on the well-being of the nation. Thus, we are faced with the question: what does sustainable peace and security hold for us as a nation? How did we get here and how do we chart a pathway for national reconciliation devoid of partisanship? The call for national dialogue has become imperative to secure the citizens and avoid civil unrest! This article examines the security challenges being faced by the nation by providing a critical understanding of the complex social-political milieus in which banditry and violent conflict are grounded and how social inequalities have been the bane of nation-building. It examines why economic opportunity does not always correspond uniquely with access to quality of life of an average Nigerian and it explores the changing expressions of ethnic and religious impulses as reflected in the leadership question and the calls for regional balance in the security architecture of the fragile Nigerian state. It concludes by proffering solutions to the country’s complex security challenges. Nigeria’s political and security landscapes have changed significantly since the mid-1990s when all the hubris of rapid economic growth and development came to a halt. Evidently, the prolonged military regimes justified paternalistic authoritarian government, and the emergent politics without ideology has provided refuge for incompetent leaders to be in power. Indeed, politics and leadership are not built around critical issues of governance, but around primordial sentiments of religion, ethnicity and other divisive identities. These challenges continue to emasculate democracy and security. Efforts to end banditry, kidnapping and other violent crimes, however well intended and implemented they appear to be, will continue to fail as long as the political conditions for the resolution of insecurity are not transparently handled. According to the Global Terrorism Index (GTI) 2020 report, Nigeria is classified as the third most terrorised country in the world. Given the widespread youth unemployment and proliferation of illicit small arms and weapons across the country, particularly the North-East and the South-South, the objectionable business of banditry and terrorism will be on the rise. Furthermore, the root causes and the overlapping drivers of conflict are radical Islam, multidimensional poverty; ethnoreligious fault lines, out-of - school children; political corruption, economic recession, climate change; nepotism and exclusion have become the bane of insecurity and state fragility. The Presidential Committee on Small Arms and Light Weapons (PRESCOM) and other strategic stakeholders must

EFFORTS TO END BANDITRY, KIDNAPPING AND OTHER VIOLENT CRIMES, HOWEVER WELL INTENDED, WILL CONTINUE TO FAIL AS LONG AS THE POLITICAL CONDITIONS FOR THE RESOLUTION OF INSECURITY ARE NOT TRANSPARENTLY HANDLED

put in place comprehensive peace-building strategies for weapons control and armed violence reduction. Weapons have become bargaining instruments for ransoms. In addition, the federal government must explore dialogue in order to prevent or deescalate conflicts by restructuring the way security gatekeepers manage its communication and behaviour change ecosystem. Further, state and local governments must create and sustain coordinated efforts by using dialogue processes at the community- to - community level to gain awareness on how to identify influences on violent crimes of banditry, terrorism and kidnapping. Undoubtedly, the path to more robust security architecture will be a challenging one, one that calls for uncommon leadership and creativity from the President, the new service chiefs and other security service providers. It will involve a tenacious implementation of various security road map documents, including local government (community) policing, state police, restructuring of the top hierarchy of the military to reflect national diversity and the development of legislative framework for the possession and the use of weapons by civilians and government officials. These should be considered by the ninth National Assembly. The militarization of the state by politicians is, however, a worrisome trend. Politicians must purge themselves of political thugs and other anti-social abnormalities including godfatherism, cultism and gangsterism. Therefore, comprehensive controls must be instituted, and the campaign for the prevention and reduction of armed groups (vigilantes) at the community level should be ramped up. The Federal Ministry of Information and National Orientation through its agencies, particularly the National Orientation Agency (NOA), must sustain strategic communication matrix with the Directorate of Defence Intelligence Agency (DIA) to reimagine Security Sector Reforms (SSR) through a step-by-step confidence-building incentive for the Nigerian Project beyond the tokenism of 60 seconds radio jingles, press releases and reactive communication of government spokespersons. At the level of the Military High Command, the issue of disarmament and weapons control should be addressed in a transparent manner. Access to strategic information regarding weapon holding in notorious banditry states will reduce opportunities for new recruits. Further, the military engagement tactics with kidnapping and banditry should be operationalised with the police service as result of the rapidly changing dynamics of non-conventional warfare, including terrorism and violent crime. The federal government must take proactive action in walking its talk about pulling 20 million Nigerians out of the poverty net, and state governments will do well to mainstream pro-poor programmes, community-to-community intelligence networks and reform regional security outfits to have longlasting impacts, especially on cultism, area boys menace and transport unions toll collectors, which are fertile grounds for nurturing and recruiting criminal elements. r0SPWXVKF JT GPVOEFS )VNBOJUBSJBO $BSF GPS %JTQMBDFE Persons, Lagos

THE BAN ON DIGITAL CURRENCY The central bank ban is in order, argues Boniface Chizea

he Central Bank of Nigeria recently harvested wide-ranging criticism following its sudden directives to deposit money banks to sever all dealings with account holders certified to have any dealings in digital currency. We were made to understand that the immediate reason for this action was the fact of the discovery of tremendous inflow of funds into the economy, often of doubtful integrity which has the potential of destabilizing the country’s financial sector. It was reported that the Federal Bureau of Investigation (FBI) alerted the Central Bank to the effect that fraudulent Nigerians took control of large chunks of palliative releases in the wake of the various stimulus packages which they proceeded to send into the country leveraging on the digital currency ecosystem. It was reported that most illegal transactions such as proceeds from kidnapping, bunkering and payment of bribes have found digital currency difficult to track, isolate and arrest source of payment and now the preferred mode for transactions. The awareness of this development accounted for the prompt drastic action by the Central Bank to control the damage. It would be wrong for us in undertaking this discussion to assume that we are all on the same page with regard to what digital currency really is. Cryptocurrency has been defined as digital assets designed to work as medium of exchange using cryptocurrency to secure transactions and to control the creation of additional units of the currency. Bitcoin became the first decentralized crypto currency in 2009. And since then, numerous cryptocurrencies have been created, referred to as altcoins as a blend of bitcoin alternatives. The legal status of cryptocurrencies varies substantially from country to country as its understanding is still evolving in most countries. For instance, China Central Bank banned the handling of bitcoins by financial institutions in China during an extremely

fast adoption period in early 2014. In Russia, though cryptocurrencies are legal, it is however illegal to actually purchase goods with any currency other than the Russian Ruble! On March 25, 2014, the United States Internal Revenue Services ruled that bitcoin will be treated as property for tax purposes as opposed to currency. It is illegal to buy and sell bitcoin in South Africa but there has been no specific ban. Bitcoin is accepted in Kenya as a medium of exchange like any other government issued instrument while digital currencies are not known to have arrived the shores of Ghana though it has been reported that the government has commissioned a study to facilitate an appreciation of the use of digital currencies. There are a number of challenges identified with the use of digital currencies; they suffer from slow speed of transactions and lack standardization. The operations of blockchains are decentralized and therefore do require any central authority to oversee their operations. The various versions of digital currencies in existence today suffer from lack of interoperability. Bitcoins are costly to operate as they rely on intensive computer power and are heavy on the consumption of electricity power. Since the step taken by the Central Bank, all manner of stakeholders as we must come to expect have joined the fray with raging criticisms of the policy thrust. First of all, let’s look carefully at the implication of this directive for the digital currency transactions which have been with us for over a decade now. This instruction if kept to the letter as should be expected would spell the death knell; kiss of death for the operators of digital currency in our economy. It is not possible to envisage how they could operate outside the banking system. Not at all surprising there has been tremendous push back. In fact, latest word out there is that some digital lawyers have on February 8, 2021 approached the Federal High Court in Lagos to try and test the legality of

this CBN directive. Now the argument is that the Securities and Exchange Commission in September 14, 2020 declared cryptocurrencies as legal digital assets protected under Section 44 of the Constitution of the Federal Republic of Nigeria of 1999 (as amended). That being the case the courts are hereby being urged to revalidate the Investments and Securities Act 2007 which gave the authority of regulating Capital Market operations to Securities and Exchange Commission. Therefore, regulatory dysfunction is being cited which if upheld could mean that the Central Bank had acted ultra vires in giving its directives. The foundation of this argument would appear to me shaky as the Central Bank’s instructions is to banks which no one could ever argue that the Central Bank is not in a position to regulate. Well, this matter is now subjudice and advisedly we should allow the courts to have their say on the matter. Other notable reactions have come from former Vice President of Nigeria and a Presidential aspirant, Atiku Abubakar who based his criticism on the fact that the directive is against the youths who are at the receiving end of the worsening unemployment situation in the country. Well, I don’t suppose that the argument here is strong enough as it would be unrealistic to expect the Central Bank of Nigeria mindful of its core mandate of the maintenance of financial stability to allow a trend which is clearly destabilizing to go unchecked because we would like to protect employment. This would amount to a case of cutting one’s nose to spite his face! Oby Ezekwesili, Madam due process, has asked the Central Bank to step back to study to learn from the unfolding scenario so as not to mortgage the future of the country, pointing out that the world is a school and we are all here to learn. But the records are that committees have been reported to have been constituted in the past by the Central Bank to understudy development with digital currency; may be more than one committee for

advice on the way forward. Probably the only valid point to make on this score is the fact that we have been lethargic with coming up with concrete steps to signpost the way forward even if it must be admitted here that the overall profile of this entire ecosystem is still cast in hazy cloud. It is premature to assume that a consensus had been crystallized across board on how to handle digital currencies and therefore understudying the concept remains veritable work in progress. Kingsley Moghalu, a former Deputy Governor at the Central Bank criticism anchored on the quantum of capital importation due to digital currency lately as a basis for withholding necessary regulatory restraints is a bit surprising. If as has been argued that this channel has laid itself bare for illegal use for money laundering and all manner of illicit financial flows which are difficult to track because of the mere nature of their operations; how do we expect the CBN to aid, encourage such inflows which even makes its operations a veritable nightmare as it remains in the dark regarding the volume of liquidity being injected into the economy through such channels? There is no doubt that the recent central bank reaction is expected given the exigency of the suffocating situation of the Nigeria economy as it struggles to keep its head above water in the devasting environment of the ravaging pandemic. Witness the IMF recently raising the alarm on the state of the economy asking for strategies to be evolved for the increase in revenue inflows, recommending that the Value Added Tax rate be increased in response. One expects that the position taken would be up for review as future developments warrant and better insight into the operations of digital currencies. Meanwhile, the Central Bank has a mandate to underwrite the stability of the financial system. It must be unfettered as it attempts to keep fidelity to this historic mandate. r$IJ[FB XSPUF GSPN -BHPT

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EDITORIAL

REFORMING THE PORT PROCESS The NPPM initiative should be backed by an enabling law for effectiveness

pparently in response to the Transparency International’s 2021 Corruption Perceptions Index (CPI) which scored Nigeria very low, Vice President Yemi Osinbajo recently launched the Nigerian Port Process Manual (NPPM) to boost efficiency and accountability in Nigeria’s port industry. That the manual was launched at the celebration of the 2020 International AntiCorruption Day in Abuja, speaks to the message the administration intends to send. “The process manual is expected IF NIGERIA MUST IMPROVE to ensure predictability, promote IN CPI, WE MUST DO THE efficiency and acRIGHT THING AND PUT THE countability, reduce NEEDED INFRASTRUCTURE corruption in the IN PLACE, THE CROWNING port processes, eliminate bureauOF WHICH IS THE cratic bottlenecks AUTOMATION OF PORT faced by port users PROCESSES and reduce the opportunity for illegal demands in the ports,” said Osinbajo at the launch. The NPPM is expected to be one of the key indicators for the effective implementation of Executive Order on the Ease of Doing Business. It outlines the actors and timelines for each process while guiding the user by highlighting all required documentation, payments, timelines and the responsible agencies. The NPPM equally guides the port operators by detailing the implementation chain and provides clarity on the time required for each process. We note that the NPPM is coming at the right time because of the very opaque system at Nigerian ports. In an era where automation drives processes and system across all sectors in the civilised world, Nigerian ports process operate manually, a situation that fuels corruption and inefficiency. Aside the undue delays deliberately perpetuated by government officials at the ports, most of the facilities are obsolete and in some cases none existent.

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HERDERS’ CRISIS: WHEN FOOLISHNESS IS WISDOM

t last, for the first time, the southwest governor got a response from one of their colleagues in the northeastern part of the country. And as it were, the loud silence and the response were by their characteristics, northern. The northern tradition is such that matters are hardly confrontationally approached, no matter how offensive or dire they maybe. Matters of serious concerns are handled soberly and with ease so that both actions and reactions can be quite strategic and therefore result oriented. Thus, the average northerner is hardly rebellious, divisive or in possession of some dose of superiority complex. And to the extent that they are not seen as cowards, they are patient with anyone infringing on their rights. This attitude is perceived by others as foolishness. But it is wisdom, which according to the German-Swiss poet, Hermann Hesse, cannot be imparted. For, it will sound like foolishness to others. Even at that, meanwhile, they can be made to understand that this sort of foolishness is wisdom. For, throughout the history of the world, it is yet to be noted where rebellion, divisiveness and vanity have brought development to a people. The #EndSARS protests of last year remain a pointer to this. In the end, even though the federal government scrapped the SARS unit of the Nigeria Police, the socioeconomic pains inflicted on the country by the protests in Lagos and some other states of the wild west are still felt. Therefore, it would have been better had it been other means were employed in demanding for the #EndSARS. Surely enough, there are no alternatives to peaceful ways of resolving problems or making demands.

Meanwhile, these ports are still being perceived as a cesspool of corruption and sharp practices. However, as laudable as the initiative may seem, as long as the NPPM is not backed by an enabling law, implementation will be difficult. We also note that like the oil and gas sector, the ports are a cash cow for many and some are in government. There is therefore no incentive to put a proper structure (legal framework) in place. This is the same reason why the Petroleum Industry Bill (PIB) has been with the National Assembly for the past 20 years. That no one is even pushing for the NPPM is already a challenge. We commend agencies in the sector such as the Nigerian Ports Authority (NPA), Nigerian Maritime Administration and Safety Agency (NIMASA), the Council for the Regulation of Freight Forwarding in Nigeria (CRFFN) and the Nigeria Customs Service (NCS) that had pledged support for the implementation of NPPM. But assurances of collaboration should go beyond rhetoric, especially when the Key Performance Indicators (KPI) of the various agencies in the maritime sector are closely tied. That therefore calls for seamless cooperation and integration of relevant agencies. That the Nigerian Shippers’ Council (NSC) was chosen to drive this pivotal project is a vote of confidence on the Hassan Bello-leadership. But it is also a test of responsibility for it to come up with practical ideas as to how NPPM can best be implemented in the face of many challenges. If Nigeria must improve in CPI, we must do the right thing and put the needed infrastructure in place, the crowning of which is the automation of port processes. We have always argued that the tortuous process at our ports was a deliberate design by the officials not only to complicate an otherwise simple procedure, but also to seek personal gains. Stretched over days and weeks, frustrated importers could become desperate by taking untoward means to ‘fast track’ the clearance process of their goods, for some under-the-counter payments. That is why we hope that the NPPM will help to clear most of the impediments that have encouraged corruption at the ports and sullied the image of the country.

NNPC AND THE NUCAP CHALLENGES

And it is with this principle that northern Nigeria has kept the country one since independence. Were it for the East and the West that see the North as a parasite even though their food comes from there, Nigeria would have been history. The region plays the important role of the big brother; it is a stabilizer in a nation that is obviously divided on the fault lines of ethnicity and religion. It demonstrates an appreciable level of maturity not only by refusing to be a provocateur but also by being very patient even when attempts are made to exasperate it. The North is mostly the victim, yet always blamed as the culprit. As I write, Fulani herdsmen/northerners are being killed in cold blood in the southwest. It started with the criminalization of all Fulanis, then a quit notice was issued to them. At first, Governors Badaru Abubakar of Jigawa State and Abubakar Bagudu of Kebbi State intervened. But their intervention was fruitless. The mayhem continues and as it appears, it’s perpetrators are yet to fix the date when to stop. But they will stop when the time to do so comes. The North as noted earlier has a way of doing things. Thus, the loud silence at the beginning of all this unfortunate incidence and the late response by some governors from the region was by their characteristics, northern. The initial silence was to give the perpetrators of such crime enough rope to tie themselves. And with that there can be response but not reprisal. A frank response that is shorn and bereft of ethnic profiling such as the one issued by the governor of Bauchi State, Sen. Bala Abdulkadir Muhammad.

r.VLIUBS +BSNBKP #BVDIJ

rZayyad I. Muhammad, Jimeta, Adamawa State

n Tuesday 9th February 2021, the Nigerian National Petroleum Corporation (NNPC) launched the Nigerian Upstream Cost Optimisation Programme (NUCAP) which aimed to optimize the cost of production in the upstream sector of the Nigeria oil and gas

industry. Mallam Mele Kyari, NNPC’s Group Managing Director, said the corporation is committed to optimising the cost of production in compliance with President Muhammadu Buhari directives and in alignment with current realities of the energy transition, consumer and investor choices. The launch of NUCAP is a move to achieve $10 per barrel crude oil production cost. Is it possible? Is it feasible? It is; if the rights things are done. Bala Wunti, Group General Manager, NAPIMS said it is possible; he made an excellent presentation at the launch of the programme. The NNPC is passionate about production cost reduction and sustaining the reforms in the oil and gas sector as well as work within the tenets of President Buhari’s directives and policies– cleanup the oil and gas; sustain transparency. For the NNPC to achieve 100% success, the corporation has to keep up and bring-out the benefits of the painstaking reforms, utilize its in-house experiences to put the right people and policies in the right position and time, the NNPC has some painstaking tasks ahead in the area of production cost reduction in the upstream sector, nevertheless Nigerian Upstream cost Optimisation Programme is a good programme.

MONDAY FEBRUARY 15, 2021 •T H I S D AY

T H I S D AY ˾ MONDAY FEBRUARY 15, 2021

Group Politics Editor NSEOBONG OKON-EKONG

POLITICS

Email: nseobong.okonekong@thisdaylive.com 08114495324 SMS ONLY

M O N D AY D I S C O U R S E A Legislative Screening for the Daunting Task Ahead Udora Orizu writes that the Chairman, House of Representatives Committee on Defence, Hon. Babajimi Benson and his counterparts in security committees are set to screen the new service chiefs as requested by President Muhammadu Buhari

Buhari

ith the continuous rise in kidnapping, banditry, terrorism, farmers/herders crisis in the country, both chambers of the National Assembly commenced legislative activities of the year 2021, addressing the deteriorating security situation of the country. The height of insecurity in the land clearly showed that the Service Chiefs are not doing enough to curb the menace and this has brought about the calls by lawmakers and other stakeholders for their sack or resignation. The calls which predated Buhari’s second term in office, became more strident not only because of the rising wave of insecurity but also due to the fact that the security chiefs were overdue for retirement. Their continued stay in office was seen as hindering the career growth of their subordinates, many of who retired without getting to the peak of their career in the armed forces. While former Chief of Defence Staff, Olonisakin, a member of the 25th regular combatant course, spent about 40 years in service, former Army Chief Buratai and former Naval Chief Ibas spent 38 years in service. The sacked Air Chief Abubakar spent about 40 years in service. The statutory retirement age is 35 years in service or 60 years of age. As the newly appointed watchmen gear up to tackle the insecurity currently bedeviling the country, the Senate and the House of Representatives, last week set up ad-hoc committees to screen the new service chiefs. While the Senate Joint Committees on Defence, Army, Navy and Air Force will handle that of the red chamber. The committees on Defence, Army, Navy and Air Force as well will handle that of the green chamber, to be chaired by the Chairman House Committee on Defence, Hon. Babajimi Benson. National Assembly Stance on security situation of the country Though, President Muhammadu Buhari has finally changed the Service Chiefs, the growing rate of insecurity in the country has not abated, hence security is again a top priority of both chambers of the national assembly. At the plenary last week, the Senate urged the President to direct the National Security Adviser (NSA), Maj. Gen. Babagana Monguno (rtd), the service chiefs, and the Inspector-General of Police, Mr. Mohammed Adamu, to rejig the nation’s

Irabor

security architecture for more effective counter measures to tackle the security challenges facing the country. The Senate, in resolutions passed after a debate on a motion on insecurity, also asked state governors to implement the National Livestock Transformation Plan in order to prevent farmer-herder conflicts. In the resolutions read by the President of the Senate, Dr. Ahmad Lawan, at the plenary yesterday, the Senate also urged security agencies to deploy drones and helicopters in the forests and other ungoverned spaces to identify illegal camps of bandits so as to crush the criminals. The senators also observed one- minute silence in honour of all victims of insurgency, banditry, herdsmen-farmers’ clashes, and other security challenges. The Senate had formulated the resolutions following points raised by Senators Tolulope Odebiyi (Ogun West Senatorial District); Solomon Adeola (Lagos West Senatorial District); Kola Balogun (Oyo South Senatorial District); Ali Ndume (Borno South Senatorial District), amongst others, for urgent action to be taken against the security challenges in the country.

Ndume

The Senate, therefore, urged Buhari to direct Monguno, the new service chiefs and Adamu, to rejig the nation’s security architecture and evolve more effective counter measures to battle security challenges, particularly in the rural areas. It urged the state governors to reinvigorate rural governance and convene dialogue to promote local conflict resolution and inter-ethnic harmony. The Senate also advocated a scheme to checkmate the proliferation of firearms and enforce the laws against illegal possession of firearms. It said by implementing the National Livestock Transformation Plan, the governors would help to eliminate transhumance in order to prevent farmer-herder conflicts. In other resolutions, the Senate urged the federal government to adequately equip the Nigeria Immigration Service and the Nigerian Customs Service to police and monitor the country’s borders using technology to check illegal immigrants, and checkmate smuggling of firearms and light weapons. The Senate further urged the federal government to resuscitate and inaugurate the National Task Force Commission to

The House Spokesman, Hon. Benjamin Kalu in a telephone call with THISDAY described the appointment of new service chiefs as a reflection of a leadership that listens. He said that the executive have shown that they have a listening ear to the desires of not just the parliament but the desires of Nigerians by replacing the service chiefs. Kalu noted that the coming on board of the new service chiefs is an injection of new energy, which though may not be automatically magical but still a good step that will take the nation closer to the desired solution to the insecurity issues. While appealing to Nigerians to manage their expectations in what they want coming out of this new position given to the new service chiefs, the House spokesman also urged everyone to support, partner and encourage them. He assured that the parliament will support the service chiefs through legislative interventions, motions, bills and any other intervention that will help them achieve success

combat the proliferation of Light Weapons, Small Arms and Ammunition; and urge the federal government to review the ECOWAS Protocol of free movement to checkmate the infiltration of criminal elements into Nigeria. Meanwhile at the House plenary on February 10, the Speaker of the House, Hon. Femi Gbajabiamila, admitted that the government of the day has failed in its primary responsibility of protecting the lives and property of every Nigerian. He stated categorically that from the abundance of these failures has emerged a culture of self-help in matters of internal security that portends grave danger for the nation’s continued existence. Gbajabiamila stressed that the true test of government is in its ability to protect the most vulnerable, adding that it was impossible to separate the goal of economic prosperity from the ambition to ensure that people live in a just society free from abuse of power and protected by a justice system built on fairness and the rule of law. To this end, Gbajabiamila noted that the House would shortly begin considering Bills to amend the Administration of Criminal Justice Act, and also follow it up with a long-overdue review of the Trafficking In Persons (Prohibition) Enforcement And Administration Act and other legislation that seek to deliver a justice system that works for all. He stated: “The security and welfare of the people shall be the primary purpose of government. With these words, the constitution obligates all of us who swear to serve in government to do everything to protect the lives and property of all citizens and promote their well-being above all else. This obligation is central to the governing contract between the government and the citizenry. Every time a citizen going about their business is killed or kidnapped, loses their property or livelihood, we have failed in our obligation. From the abundance of these failures has emerged a culture of self-help in matters of internal security that portends grave danger for our nation’s continued existence.” The Speaker pointed out that if there was a time for all to put aside all other considerations, especially the petty concerns of partisanship and politics, it is now. Gbajabiamila added: “Here in the National Assembly, we do not command any armies or control the police. Command and control of our nation’s security infrastructure is an exclusively

T H I S D AY ˾ MONDAY FEBRUARY 15, 2021

MONDAY DISCOURSE

Kalu

executive responsibility. Yet it is to us that our constituents look to when the forces of darkness descend to disrupt their lives, often irreparably. “We have to reconcile the obligations we owe to our people with the constitutional limitations under which we operate. But we will not shrink from our role as advocates for the forgotten voices, and we will continue to exercise the appropriation and oversight authority vested in us to hold to account those who bear direct responsibility for the protection of all our nation’s people.” Previous Calls for Sack of Service Chiefs The 9th House since their inauguration on June, 11, 2019 has been clamouring for the resignation of the service chiefs due to their failure to curb the worsening insecurity in the country. Back in January 29 2020, the lawmakers while debating a motion on the need to curb the incessant attacks by the Boko Haram insurgents moved by the Chief Whip, Hon. Mohammed Monguno, asked the Service Chiefs to resign or be sacked by the President. After the long debate on the motion, the lawmaker representing Chibok/ Damboa/Gwoza federal constituency of Borno State, Ahmadu Jaha, called for the resignation and/or sacking in the additional prayers he made on the motion. The lawmakers called on “all the service chiefs to resign immediately, failing which the President should remove them”. Again, the green chamber in September last year, adopting a motion on the need to curb the rising cases of banditry, killing, and kidnapping in Niger state, sponsored by Hon. Shehu Barwa Beji and Hon. Saidu Umar Doka, asked President Muhammadu Buhari to give effect to subsisting resolutions of the House bordering on the removal of Service Chiefs. However, their resolutions were ignored by President Buhari. Buhari finally heeds to parliamentary calls Eventually, after several strident calls from the parliament and Nigerians, President Muhammadu Buhari finally replaced the Service Chiefs on January 26, 2021. According to a statement issued by the President’s Media Adviser, Femi Adesina, the new Service Chiefs are: Major-General Leo Irabor, Chief of Defence Staff; Major-General I. Attahiru, Chief of Army Staff; Rear Admiral A.Z Gambo, Chief of Naval Staff; and Air-Vice Marshal I.O Amao, Chief of Air Staff. The statement said Buhari congratulated the new Service Chiefs, and urged them to be loyal and dedicated in the discharge of their responsibilities. The statement also said Buhari accepted the immediate resignation of the Service Chiefs, and their retirement from service. The retired service chiefs are the Chief of Defence Staff, General Abayomi Olonisakin; Chief of Army Staff, Lt-Gen. Tukur Buratai; Chief of Naval Staff, Vice Admiral Ibok Ekwe Ibas; and Chief of

Lawan

Air Staff, Air Marshal Sadique Abubakar. The President thanked the outgoing Service Chiefs for what he called their “overwhelming achievements in our efforts at bringing enduring peace to our dear country,” and wished them well in their future endeavours. A welcomed development Soon after the presidency announced the resignation of the service chiefs, the House of Representatives praised Buhari for finally heeding to calls of parliament and Nigerians. The House Spokesman, Hon. Benjamin Kalu in a telephone call with THISDAY described the appointment of new service chiefs as a reflection of a leadership that listens. He said that the executive have shown that they have a listening ear to the desires of not just the parliament but the desires of Nigerians by replacing the service chiefs. Kalu noted that the coming on board of the new service chiefs is an injection of new energy, which though may not be automatically magical but still a good step that will take the nation closer to the desired solution to the insecurity issues. While appealing to Nigerians to manage their expectations in what they want coming out of this new position given to the new service chiefs, the House spokesman also urged everyone to support, partner and encourage them. He assured that the parliament will support the service chiefs through legislative interventions, motions, bills and any other intervention that will help them achieve success. He said, ‘’For the House of Representatives, it is a reflection of the leadership that listens. On our part we’ve shown that we pay attention to wishes desires hunger, need of the Nigerian people. What they actually wanted is what we have

Monguno

carried on our shoulders and presented at the plenary as their representatives. ‘’On the other side lies the executive who receives the resolutions passed in the parliament. We have shown intensity of desire in making sure that these wishes of the people got granted by the Executive and today, the executive have shown that they have a listening ear to the desires of not just the parliament but the desires of Nigerians. ‘’Having said that, it’s doesn’t mean there’s going to be a magical solution just by this resignation that has been accepted by Mr President. But what it holds for Nigeria is an injection of new energy, new military strategy, which though may not be automatically magical but it seems like a good step that will take us closer to the desired solution to the insecurity issues in the country. ‘’What we owe this new team of armed forces that have come to protect us is to give them our support. We want to ask those that we represent to manage their expectations well, a mismanaged expectation will place unnecessary burden on this new team and might make them to derail from the purpose.’’ Speaking on the changes the new service chiefs will bring on board in regards to the insurgency war, Hon. Kalu said it is the the style, culture and structure as it appeared that the old team were having a problem of marginal utility. According to him, ‘’It’s the style, culture, because leadership styles are different, no two leaders lead in the same way. Some lead according to tradition, others employ innovation, innovation that’s hinges on technology and advanced strategy, that’s hinged on the right motivation. ‘’At a point it appeared as if the old team were having a problem of marginal utility, where you’ve done one thing for too long and you’re becoming boring. So we saw that a lot of marginal utility

The Senate also advocated a scheme to checkmate the proliferation of firearms and enforce the laws against illegal possession of firearms. It said by implementing the National Livestock Transformation Plan, the governors would help to eliminate transhumance in order to prevent farmer-herder conflicts. In other resolutions, the Senate urged the federal government to adequately equip the Nigeria Immigration Service and the Nigerian Customs Service to police and monitor the country’s borders using technology to check illegal immigrants, and checkmate smuggling of firearms and light weapons. The Senate further urged the federal government to resuscitate and inaugurate the National Task Force Commission to combat the proliferation of Light Weapons, Small Arms and Ammunition; and urge the federal government to review the ECOWAS Protocol of free movement to checkmate the infiltration of criminal elements into Nigeria

was setting in the management of the insecurity problem in Nigeria by the past leaders. This new leaders are coming with new energy. They must have watched the mistakes of past leaders and must have innovated a way that may not be too traditional but solution driven to give Nigerians the kind of security they are looking for. The style, leadership structure, strategy is going to change, but all of them will still be within the military code of conduct.’’ Seeking the Parliament’s Nod Following the appointment of new service chiefs, President Buhari wrote to both chambers of the national assembly, seeking confirmation of the nominees. Buhari in a letter dated January 27, 2021 and addressed to the Senate President, Ahmed Lawan and the Speaker of the House of Representatives, Hon. Femi Gbajabiamila, said that the screening was in compliance with the provisions of Section 18 (1) of the Armed Forces Act Cap A.20 Laws of the Federation of Nigeria, 2004. The President urged the lawmakers to consider and confirm the nominees in the usual expeditious manner. Setting up the adhoc committee Senate President, Ahmad Lawan, on February 10, referred the request of President Muhammadu Buhari seeking the confirmation of the new service chiefs for appointment to the Senate Joint Committees on Defence, Army, Navy and Air Force for further legislative work. Lawan, gave the committees two weeks to carry out their assignments and report back to plenary. Chairman, Senate Committee on Army, Senator Ali Ndume said that Senate Joint Committee on Defence, Army, Navy and Air Force may start the screening of the newly nominated Service Chiefs this week. Just like the Senate, the Speaker of the House of Representatives, Hon. Femi Gbajabiamila, same day referred Buhari’s request for the confirmation of the new Chief of Defence Staff and Service Chiefs to the House Committees on Defence, Army, Airforce and Navy for screening. The Speaker, set up an ad-hoc committee to be chaired by the Chairman House Committee on Defence, Hon. Babajimi Benson to screen the new service chiefs. Hon. Benson, according to Gbajabiamila, is to work with the Chairmen of other security committees, Hon. Abdulrasak Namdas (Army), Hon. Shehu Koko (Air force) and Hon. Yusuf Gagdi (Navy), their deputies and at least five members of their committees to carryout the exercise in strict adherence to Covid-19 protocols. Renewed Hope Following their confirmation by both chambers of the national assembly, there will be renewed hope for the citizenry, who believes there will be a renewed onslaught against insurgents, bandits and other criminal gangs whose despicable activities have shot issues of insecurity into a national emergency. All eyes are now on them to deliver where their predecessors failed.

T H I S D AY ˾ MONDAY FEBRUARY 15, 2021

POLITICS

Fronting Senator Al-Makura for APC National Chairman Igbawase Ukumba writes that though Senator Umaru Tanko Al-Makura is yet to publicly declare his interest for the APC National Chairmanship seat, however Governor Abdullahi Sule of Nasarawa State has commenced campaig for the senator

hat Senator Al-Makura made Nasarawa State proud by being the only governor who presented a party to the merger of the All Progressives Congress (APC) is well known episode in Nigeria. This has encouraged Governor Sule to commence campaign soliciting support for the election of his immediate predecessor as the next National Chairman of the APC no doubt. Perhaps, Governor Sule’s door-to-door campaign to elect his immediate predecessor may pay off as of all the three main legacy parties that formed the APC, only the Congress for Progressive Change (CPC) that has not occupied the chairmanship seat of the APC. Moreover, with the President exiting in 2023, a school of thought opined that the APC would be a good bargain to the occupation of national seat of the party. The school of thought explained that the CPC elements were pushing for the chairmanship slot because since the birth off the merger, only the legacy party has not occupied the national chairmanship of the APC. The fact remains that the first National Chairman of the APC, Chief Bisi Akande, came from the former Action Congress of Nigeria (ACN) bloc, Chief John Oyegun from the bloc of the All Nigeria Peoples Party (ANPP), and the immediate past National Chairman of the party, Comrade Adams Oshiomhole, was also from the ACN bloc. It was against the above scenario that Governor Sule, when flagging-off the state membership registration and revalidation exercise of the APC at his polling unit at Gudi Station of Akwanga Local Government Area of Nasarawa State pleaded with Nigeria to be kind to CPC, as Nasarawa State is the place to look at when chosing the next national chairman of the APC. Sule said: “If Nigeria would be kind to CPC, Nasarawa State is the place to look at so that you can be kind to CPC. That is my message to Nigeria today because I believe that if in any other way we want to say that Nigeria wants to be kind to us, then we should be kind to Nasarawa State at any level. That is my message.” “Today is history for us in Gudi Station and I think for the rest of the life of Gudi Station, this is a very special day. Gudi has always strive itself in identifying itself with Distinguished Senator Tanko Al-Makura; the architect of modern Nasarawa State, from the time he brought CPC, and CPC having the only state of Nasarawa that was used as part and parcel of the alliance that formed the APC today.” The governor expressed joy at the Gudi registration and revalidation exercise flag off that Senator Tanko Al-Makura had made Nasarawa State proud by being the only governor who presented a party to the alliance that gave birth to APC. In addition to that, the governor said Gudi Station has always been proud in identifying with Senator Al-Makura, even when some of them were not in the CPC. “I remember of the day of the election in 2011 in front of me, because being in Dangote I would not have been in any other political party than the ruling party at that time. So openly, I was in Peoples Democratic Party (PDP). But my brothers and sisters were voting CPC right in front of me. “Before you (Al-Makura) came and took Gudi Station to CPC, Gudi was purely a PDP town where our first executive governor, Abdullahi Adamu, came and led us and we continued in that direction until you came over and took us to CPC,” he narrated. The governor was filled with excitement at the unity that he saw during the flag off of the APC membership registration and revalidation exercise at Gudi as he said he would not forget it for the rest of his life. ‘If anybody is thinking there is problem in Nasarawa APC today, that person has been proven wrong. Even in our small place of Gudi, you either say I am for AA Sule or I am for Silas Agara. Silas Agara and I are saying anybody that comes to be registered,

Al-Makura register them because at the end of the day, Silas Agara is not contesting for governor. “So everything is actually falling into place. Therefore all the grammar about differences in our party is not there. When we came in, there was enough within our party to work together for everyone to benefit,” Sule concluded. Nevertheless, the maiden victory of Buhari in the state convinced some political observers in the state that Senator Al-Makura is the laboratory technician to the APC. A breakdown of the 2019 presidential election results in Nasarawa State as announced by the Returning Officer for the state, Professor Azuibike Nwankwo of the Nigeria Science Academy (NSA), showed that out of the 13 Local Government Areas of the state, President Buhari won in eight Local Government Areas, while the PDP candidate, Atiku Abubakar, won in the remaining five council areas of the state. THISDAY gathered that the outcome of the 2019 presidential election marked the first time the PDP lost Nasarawa State in a presidential election since the return of democracy in 1999, even as the president got his highest number of votes in Lafia, the state capital, where he

polled 55,254 votes, while Atiku Abubakar got his highest votes in Karu Local Government Area after polling 49,292 votes. Addressing supporters of the APC who thronged the Government House, Lafia to celebrate Buhari’s maiden victory in Nasarawa State, Senator Al-Makura, who was then the executive governor of the state, said he was overwhelmed by the president’s victory in the state hence he lacked words to express himself because the state has broken the jinx in its political history. Acccording to the former governor, “Today I am happy that Mr. President has won Nasarawa State because the state, been a state that is cosmopolitant and infiltrated by all kinds of difference, has become a difficult state to deliver especially on the exercise like this because sentiment of emotions and other things. “But since the beginning of political dispensation in 1999, we have not seen an election that has become a game changer, a decisive factor in killing and burying politics of sentiments, emotions than the emergence of President Buhari as the winner of the presidential election in Nasarawa State.”

Governor Sule’s door-to-door campaign to elect his immediate predecessor may pay off as of all the three main legacy parties that formed the APC, only the Congress for Progressive Change (CPC) that has not occupied the chairmanship seat of the APC. Moreover, with the President exiting in 2023, a school of thought opined that the APC would be a good bargain to the occupation of national seat of the party. The school of thought explained that the CPC elements were pushing for the chairmanship slot because since the birth off the merger, only the legacy party has not occupied the national chairmanship of the APC. The fact remains that the first National Chairman of the APC, Chief Bisi Akande, came from the former Action Congress of Nigeria (ACN) bloc, Chief John Oyegun from the bloc of the All Nigeria Peoples Party (ANPP), and the immediate past National Chairman of the party, Comrade Adams Oshiomhole, was also from the ACN bloc

Nevertheless, political observers in the state recognised another jinx that was broken by Al-Makura in the state where the APC clinched all the three senatorial seats of the state at the National Assembly as well as winning four out the five seats in the House of Representatives. Thus the observers were of the views that there was every indication the erstwhile governor has totally and absolutely converted the state from a PDP state to an APC state hence making him a candidate to beat for the position of national chairman of the APC at the party’s forth coming national convention. Despite that, the 2019 general election came and gone, but it however left behind memories that are still caressing as Senator Al-Makura is said to be still basking in the euphoria of supremacy, perhaps due to the sudden takeover of government affairs in Nasarawa State by the defunct CPC; which was structureless as at the time. The sudden takeover which brought Al-Makura to the saddle of the leadership of Nasarawa State in 2011, no doubt, stung both the state and national hierarchy of the PDP on the back like a wasp. Perhaps, the PDP’s loss of Nasarawa State at the 2011 governorship race to the defunct CPC after it (PDP) had governed the state for 12 years was analysed by political analysts as a plus to Senator Al-Makura as he guns for the national chairman seat of the ruling APC. Be that as it may, it was against the above backdrop that political pundits in the state were of the opinion that the PDP controlled legislative arm of government then was instigated to, by either hook or crook, uproot Al-Makura out of the Lafia Government House through impeachment which at the end of the day did not see light of the day. Consequent upon that, the then Chief Judge of the state, Justice Suleiman Dikko, constituted a probe panel to investigate the 16 allegations of gross misconduct leveled against Senator Al-Makura, who was the then governor of the state, by the Nasarawa State House of Assembly. But the panel’s last public sitting on August 5, 2014 dismissed all the charges leveled against the erstwhile governor that “the refusal of the state assembly to participate in the proceedings implies that it had failed to tender evidence to prove its case. “The rule of natural Justice and our criminal laws put the onus of proof on the complainant, failure to which the accused is deemed innocent. The House has failed to advance envidence of the 16 allegations. The panel agrees to the prayer of the counsel to the governor and has no option than to dismiss each and every of the charges against the governor.” It was against this scenario that Senator George Akume, when speaking sometime ago during an APC rally organised by the southern senatorial district of the state in Lafia classified Al-Makura as one of the greatest men in the northern region that valued and focused attention on education, especially the level of development he was undertaking at the Nasarawa State University, Keffi. He continued then that the erstwhile governor of Nasarawa State is a transformer of the state that is beyond compare since creation of the state. “Al-Makura is a man that loves the state and the nation. He cares for education. Everyone who passes through Nasarawa State must appreciate the quality of work; and for the first time in the history of Nigeria, primary schools are constructed like universities. Those edifices are only seen in Nasarawa State under Governor Al-Makura. He continued at the rally that it was only in Nasarawa State that teachers and other civil servants were paid to date while schools were constructed and renovated across the three senatorial zones of the state. Akume, who is presently the Minister of Special Duties and had governed Benue State for eight years, said: “For such a man to be discarded, that can never be in tandem with the history of this country following his developmental strides.”

T H I S D AY ˾ ͯͳ˜ ͰͮͰͯ

FEATURES

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

Stiff Resistance against Second Wave of #EndSARS Protest Chiemelie Ezeobi reports that the second wave of the #EndSARS protest was met with stiff resistance from the police in Lagos as the protesters, under the aegis of #OccupyLekkiTollgate stormed the street to register their grouse about the decision of the judicial panel to reopen the Lekki Tollgate

ast week Saturday, the second wave of the #EndSARS protest began in Lagos under the auspices of #OccupyLekkiTollGate, with more than 40 protesters arrested and dehumanised by police operatives attached to the Lagos State Police Command. #EndSARS Movement Although the sobriquet #EndSARS did not start recently, it gained momentum during last year’s nationwide protests against the now disbanded Special Anti Robbery Squad (SARS) and police brutality in general. Often attributed to Mr. Segun Awosanya, popularly known as Segalink since 2017, a human rights activist and advocate, the hashtag became a rallying point to kick against acts of brutality, harassment and even extra judicial killing by operatives of the now disbanded SARS. According to Amnesty International, from its investigations, acts of extra-judicial killings by SARS claimed 82 people in three years, but many argue that the figure could be higher. First Wave of Protest Over the years, cases of such assaults and brutality perpetrated by SARS have been tackled by successive governments without any result. Last year October was however different as the movement that snowballed into a global protest after it was triggered by a video of alleged SARS operatives shooting an unarmed young man in Delta State. The sheer brutality triggered off series of online protests against the police squad. Soon, the hashtag, #EndSARS resurfaced. But this time around, something was different; the young people were fed up of being pushed to the wall even in their innocence. As gory stories of victims and even the dead began to pop up, so did their anger. With no other way to let out their outburst, Twitter first became a pool from where their voices rose against police brutality. As their outburst raged, it eventually morphed into what became the #EndSARS protest. Although unplanned, it soon became a global movement, going down the annals of history as one of the most organised and unified protests by youths. In response, the Inspector General of Police, Mohammed Adamu banned SARS operatives and other Tactical Squads like the IRT, STS, anti cultism and anti kidnapping units from carrying out routine patrols, stop and search, checkpoints, mounting of roadblocks and traffic checks with immediate effect. But when the operatives continued unabated despite the IG’s order, the then Commissioner of Police, Federal Special Anti-Robbery Squad, Imohimi Edgal, said firearms would henceforth only be issued to operatives on guard duty or those responding to violent crimes. When the touted reforms didn’t reflect on the actions of the operatives, youths took to the streets of Lagos to register their grouse against the incessant acts of brutality, extortion and even extra-judicial killing. The #EndSARS movement started off as a quest to get the presidency and the police hierarchy to dissolve the Special Anti Robbery Squad (SARS) nationwide. The protest, which started on October 7, 2020, kicked off in Lagos in trickles but gained momentum in the next two days. It soon became a nationwide and global protest. First tagged “Three Days Protest Calling for the Outright Disbandment of SARS”, the protesters visited the Lagos State Police Command and the State House of Assembly as focal points. After the three days, it snowballed into nationwide protests as a culmination of weeks of anger and

the magnitude of devastation that would rock their world. A platoon of soldiers kitted in military camouflage stormed the protest ground in their patrol vehicles and ordered them to leave. According to the soldiers, they were there to enforce the curfew imposed by the Lagos State government. But something was wrong with their demands- the curfew which was earlier stipulated for 4pm had been shifted to 9pm. The protesters had at least three hours to go before they can be deemed to have flouted the curfew. The soldiers were seen on camera ordering the protesters to leave the tollgate. Minutes after, gunshots were heard as they allegedly fired into the teeming crowd. As people ducked or scampered to safety, the bullets hit several protesters. When the buzz died down, the protesters began to attend to the injured persons while waiting for the ambulance to arrive.

Some of the arrested protesters

Governor Babajide Sanwo-Olu unattended complaints by Nigerians over the pernicious actions of SARS operatives, who had either forcefully abducted, shot or even harassed youths across board. Demands Their demands were quite simple- they charged the presidency and police hierarchy to not just #EndSARS but to also end police brutality and then institute police reforms from lower cadre policemen to the highest cadre. They also called for transparent prosecution of all the officers involved in the menace, both past and present, as well as ensure compensation of victims of police brutality. In response, the FG first fulfilled some of the demands but some others have not been fully met like the total overhaul of the police and prosecution of killer cops. As the ranks of the protesters swelled, so did their zeal despite police harassment and brutality during the protests. Thus, on October 13, the IG disbanded SARS nationwide but in its place, they set up the new Special Weapons and Tactics (SWAT) Team that will fill the gaps arising from the dissolution of the defunct SARS. Although the police said members of this new team will also undergo psychological and medical examination to ascertain their fitness and eligibility for the new assignment, not much has been heard of them since their recruitment. With the skepticism the protesters met the disbandment, the protest continued. According to them, it was just a case of old wine in new skin. Their disillusionment stemmed from the fact that the unit has been ‘disbanded’ about six times within the last five years-in 2015, the unit was ‘reformed’; in 2016, it was ‘restructured’; in 2017, it was

Commissioner of Police, Lagos State Police Command, Hakeem Odumosu ‘reorganised’; in 2018, it was ‘reformed’; in 2019, it was ‘disbanded’; and in 2020, it was dissolved with SWAT taking its place. Violence The movement soon turned violent after hoodlums hijacked it. It snowballed into an ethnic and cult war in some parts of the country. At the end of the attack, scores of protesters sustained varying degree of injuries while some cars and properties were also vandalised. The protests, which were hijacked by hoodlums in various states across Nigeria, witnessed uprising, looting and destruction in Lagos, Gombe, Abia, Adamawa, Bayelsa, Abuja, Rivers, Edo, Delta, Anambra, Enugu, Kaduna, Abuja, Osun, Oyo, Ondo, Imo, Akwa-Ibom, Ebonyi, Kwara, Cross River, Ado Ekiti, Enugu, Jos, and Ogun. Curfew Given the volatile situation, some state governors decided to impose curfew. In Lagos, the governor was forced to declare a 24-hour curfew effective from 4pm. Although the curfew was extended to 9pm, the harm was already done. Lekki Shooting The defining moment of the protest was that same Tuesday, October 20, when soldiers from 81 Division Headquarters of the Nigerian Army shot at unarmed protesters. They were supposed to be safe because clutched in their hands were the National Flag, symbolising natural wealth and unity, whilst they sang the National Anthem- two things supposedly held sacred by the military. That fateful Tuesday, nothing prepared the #EndSARS protesters at Lekki Tollgate for

Controversy over Casualty, Fatality Rate In his first address after the shooting, the Governor, Babajide Sanwo-Olu blamed it on forces beyond his direct control. It was also the governor who pegged the casualty at 28. Giving a breakdown, he said there were 10 patients at the General Hospital, 11 at Reddington and four at Vedic; with mild to moderate levels of injuries while two are receiving intensive medical care. He also disclosed that three patients have been discharged. It was also the governor that was the first person to refute claims that there were fatalities in the shooting. He would later tweet that two of the survivors died in the hospital from gunshot wounds. This was contrary to initial figures from protesters that put fatality to over 10. Also, Human rights group, Amnesty International said it had obtained credible reports of deaths. One of the documented pieces of that night was shot live on Instagram by Obianuju Udeh, popularly known as DJ Switch. But for her, people would have remained in the dark of what happened that fateful night. In her live video, more than 130,000 people from all over the world watched as the injured were administered first aid to. Also on the live video, she displayed spent bullets that were recovered after the shooting. Vandalism, Looting, Jailbreaks Meanwhile, the curfew, which was meant to restore order, seemed to have restricted everybody except hoodlums, who had a field day looting and burning in different part of the states. Some states also experienced jailbreaks. It was reported that over 2,000 inmates escaped from the Nigerian prisons in various states. First were the two Nigerian Correctional Service centres in Benin City, Edo State, and the other in Ondo. Although two separate attempts were made in Ikoyi and Kirikiri Prisons in Lagos, it was aborted, although not without some casualties. So far, a total of 2,051 inmates escaped after the jailbreaks in Edo and Ondo States. Goof by Army Reacting reacting days after the shooting, the Defence Headquarters (DHQ) maintained that the reports that its operatives shot some unarmed #EndSARS protesters at the Lekki toll gate plaza on Tuesday remained mere allegations. The then Coordinator, Defence Media Operations, Major General John Enenche, reiterated that the alleged role of the military in the incident was nothing, but pure speculations. He urged all to wait for the outcome of investigations.

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FEATURES Using the operative word ‘if’ in addressing the allegations of shooting, he said they called in analysts who analysed videos and declared they were photoshopped and put together. Days later, after repeatedly denying their presence at Lekki Tollgate, the 81 Division of the Nigerian Army finally responded to the allegations, stating that they were invited by the state government to enforce the curfew. They however maintained that they did not shoot any protester. Their new stance was perhaps due to the statement attributed to the governor when he finally admitted on CNN that the CCTV captured the military at the scene. Afterwards, the army claimed they shot blanks but again, admitted later that they also went with live bullets, of which they insisted it was only the former they shot. Judicial Panel To begin the process of healing and meeting the demands of the protesters, different states set up the Judicial Panel of Enquiry and Restitution for Victims of SARS. Their job was clearly spelt out— evaluate the evidence and draw conclusions on the validity of public complaints on police brutality and extra judicial killings with the aim to determine and recommend compensation for victims and their dependents. The tribunal also, in its terms of reference, is mandated to interrogate SARS officers responsible for the abuse of victims and recommend their prosecution. Continued Harassment But despite claims by the federal government that it is set to meet the demands of the protesters, they have continuously been detained, had their bank accounts frozen, and some placed on flight bans. Lagos Panel In Lagos, the Judicial Panel of Enquiry and Restitution for Victims of SARS kicked off in October, 2020. Led by Justice Doris Okuwobi, the Judicial Panel of Inquiry and Restitution was initially set up to investigate human rights violations by SARS operatives, but now has its terms of reference expanded to also investigate the circumstances that led to the shooting of protesters. Promising neutrality and justice, the panel members include Mr. Ebun Adegboruwa, SAN (representing the Civil Society); Taiwo Lakanu (a retired Deputy Inspector General of Police); Ms Patience Udoh (representing the Civil Society); Mrs. Olutoyin Odusanya (Director, Lagos Citizens Mediation Center), and the representative of the Human Rights Commission; Mr. Segun Awosanya, a Human Rights activist; Rinu Oduala and Temitope Majekodunmi, representing #EndSARS protesters and Lucas Koyejo. LCC’s Demands One of the cases brought up at the panel was the reopening of the Lekki Tollgate where protesters were shot at. Lekki Concession Company (LCC), through its counsel, Rotimi Seriki, prayed the panel to allow it to take over the plaza for repair and insurance claims since December 2020 given that operations at the toll plaza were suspended after the shooting of protesters on October 20, 2020 When the toll company brought up the demand in November 2020, the panel turned it down but the chairperson of the panel agreed with LCC on the evaluation of the level of damage. Stirring the Hornet’s Nest But months down the line, five out of nine members of the panel acceded to LCC’s request to take control of the toll. Just last week, the Justice Doris Okuwobi-led panel granted LCC permission to repossess the plaza after taking arguments for and against the application made by LCC counsel for the re-opening of the facility. While five members of the panel sat over the application of LCC to repossess the Lekki toll plaza and listened to submissions from the LCC, Lagos State government and EndSARS protesters’ counsel, the other four members of the panel abstained from sitting, only to emerge from the inner chamber to read a dissenting ruling. The dissenters were led by Mr Ebun Olu-Adegboruwa (SAN), representing the civil society; Ms. Patience Udoh representing the civil society; Rinu Oduala and Temitope Majekodunmi, representing #EndSARS

Arrests Immediately protesters showed up, the police began to bundle them into waiting Black Maria trucks. With help from enforcement staff of LCC, the protesters were forcibly arrested and their phones seized. Dehumanising Treatment As a further proof that the reforms needed by the police were yet to be implemented, the police exerted dehumanising acts on those arrested. Viral videos those arrested stripped half naked with some beaten. They were also transported in a dehumanising manner in cramped buses with some forced to carry each other.

Some of the protesters protesters, while those with the majority judgment were Justice Doris Okuwobi (rtd), chairman of the panel; Taiwo Lakanu DIG (rtd.), Lucas Koyejo, Segun Awosanya and Oluwatoyin Odusanya Giving her ruling, Okuwobi said it was foolhardy for any reasonable petitioner to say the toll plaza be closed for the lifetime of the assignment of the panel as the hearing of petitions of victims has not been seen to be tied to the closure of the plaza indefinitely. Resignation Following the action of the panel, one of the two youth members of the panel, Rinu Oduala, stepped down. Citing "undue intimidation of peaceful protesters" and the panel's recent vote to re-open Lekki Toll Gate, where the Oct. 20 shootings took place, before the panel concluded its investigation. I will be stepping down from the Lagos Judicial Panel as it is now obvious that the government is only out to use us for performative actions”. Renewed Clamour Expectedly, the decision by the Lagos State Judicial Panel of Inquiry and Restitution for Victims of SARS Related Abuses to reopen the Lekki Tollgate was met by stiff opposition by Nigerians who participated in the hijacked #EndSARS protest. After the judgement of the majority panel members became public, the protesters condemned the move, noting that the planned reopening of the toll made a mince meal of the over three weeks protest and the loss of lives recorded. To register their grouse, the protesters vowed to storm the toll gate and rehash the Occupy Lekki Tollgate like they did for weeks last year before the army was called in by the Lagos State government to disperse the teeming crowd. Tagged ‘OccupyLekkiTollGate to Sorosoke (Speak Out) and demand justice for all victims of #EndSARS Protest’ they disclosed that a physical but peaceful protest would be held on Saturday, February 13. According to them, it was a slap in the face to quickly reopen the toll to generate income when justice was yet to be gotten for those that lost their lives during the last invasion by the army. #DefendLagos Opposition Group Their decision to protest again polarised the polity as opposition in form of #DefendLagos group vowed to ensure the protest doesn’t hold, with some threatening to unleash violence on the #EndSARS protesters. Ban by FG, Police Reacting to the planned protest, the federal government issued a stern warning that any protest should be shelved. Also, the Lagos State Police Command issued a ban on the #EndSARS protest. This is just as it vowed to arrest protesters who defy the ban to protest, adding that already security forces have been deployed to dislodge any violent protest, gathering and procession in any part of the state has been emplaced. The state Commissioner of Police, Hakeem Odumosu, who had in the past few days held series of strategic meetings with principal staff officers, areas commanders and divisional police officers, last Thursday categorically told the protesters to shelve their plans. According to him, the stance to ban the

protest was necessitated by intelligence gathering about a possible hijack by same hoodlums responsible for the previous violence witnessed. “Premised on the available intelligence and due threat analyses carried out on the planned protest, the command perceives such proposed protest as a calculated attempt to cause pandemonium, brouhaha and massive destruction of lives and properties under whatever guide and such will not be allowed in Lagos State. “The Lagos State, its people and the Nigerian nation at large are still groaning (in pains) for the aftermath of the last EndSARS violence that left many lives and properties lost. It is therefore not reasonable to allow same to repeat itself in the state. More expedient why such gathering should not hold is the prevailing COVID- 19 virus which is rampaging in the country. “You will all recall four days ago, the Federal Government Task Force on COVID-19 declared that the country now has 13 variants of COVID-19 virus, which makes it more deadly. With this development, all hands must be on deck to halt the spread of the virus by self-complying with its protocols major which is maintenance social distance.” Deﬁance Despite the ban, the protesters drawn from the #OccupyLekkiTollagate and #DefendLagosRally, vowed to carry out their protest at the Lekki Tollgate. While the former vowed to storm the toll gate to protest the reopening, the opposing faction on the other hand, were bent on stopping the former. However, although both groups are yet to indicate who their leaders are, some of the #EndSARS protesters have called for caution, earning them the umbrage of their counterparts. To those who called for caution, to avoid a repeat of arrests and even deaths recorded during the first hijacked protest, attention should be focused more on online instead of physical campaign. Arguing that the online campaign was a viable machinery that paid off the last time, they noted that failure of government to bring to task those responsible for the Lekki tollgate shooting months after the incident, was a sign of things to come. For the #DefendLagosNow group, their charge is solely to “protect what the destroyers left behind” after the first protest. Vowing to match the firing power of the #OccupyLekkiTollgate, they noted that there was no going back to the planned counter protest. Show of Force To show it meant business, the Lagos State Police Command deployed operatives drawn from the mobile police squads and Rapid Response Squad (RRS), the latter who were dubbed Police Amotekun because of the manner they dressed alongside their commander, CSP Olayinka Egbeyemi. Protest Contrary to expectations that they would stay away from the tollgate, the #OccupyLekkiTollgate protesters showed up on Saturday morning. Although the numbers cannot be compared to those that gathered last year, they still passed the message of resilience across. However, there were no signs of the opposition.

Arraignment The command further arraigned the 40 protesters arrested at Lekki Toll Gate plaza, on grounds of conspiracy, conduct likely to cause breach of peace and violation of COVID-19 protocols. Odumosu said the “suspects had gathered at the Lekki Toll Gate plaza creating tension and behaving in such a manner that could cause breach of public peace without due regard for COVID-19 protocols major of which are use of nose masks and social distancing.” Bail Arraigned at the mobile court at Panti, Yaba, they however were granted bail by the court and are expected to appear in court on the next date of adjournment, which is March 2, 2021, with the certificate of COVID-19 test. Military’s Counter Plans Reacting to the incident, Minister of Defence, Bashir Magashi, said the government will not allow “unpatriotic elements” to destabilise the country. Speaking on Saturday after participating in the revalidation exercise of the All Progressives Congress (APC) in Kano, the minister alleged that some of the protesters are rogues and thieves. He said: “I am the minister of defence and the defence of this country is entirely my responsibility. We have the mandate to ensure that the lives and property of people are protected. There is a basic responsibility of the government, and that is to protect every Nigerian, whoever he is. We always believe that given the necessary intelligence, no agent of government will sit down and fold its hands without doing something. “This #EndSARS issue, if you recall, the minister of information has briefed this nation and alerted that something like this is coming; and we know we are always prepared. This is our job, to ensure internal security. We must plan for it. We don’t want to be taken by surprise. And if you want us to be taken by surprise, then, there is no need to call us protectors. If #EndSARS is to take place today, we will ensure that we have peaceful counter plans that we will put in place to ensure that mistakes are not made in protecting the people.” Widespread Condemnation The arrests by the police have been met with condemnation from individuals, political figures, human rights activists and the Nigerian Bar Association (NBA). Also global figures like Rihanna and others have totally condemned the government and the police, describing the act of stopping peaceful protest as tyrannical. Inquiry As at press time on Sunday, the Lagos CP was forced to react given the widespread condemnation the dehumanising actions garnered. While condemning the act, he said the command would investigate. Stating that he was piqued by this unprofessional and inhuman act, he said he has ordered the Deputy Commissioner of Police, State CID, Panti, DCP Adegoke Fayoade, to analyse the video and bring to book whoever that must have been responsible for the act. “In as much the command is resolute in enforcing all laws in the state, it will not deviate from the Standard Operating Prosecure of the Nigeria Police Force and provisions of the law in discharging its duties; noting that the command will fish out those responsible for the molestation and ensure they are punished for their unprofessional conduct,” he noted.

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BUSINESSWORLD

Group Business Editor Obinna Chima

Email obinna.chima@thisdaylive.com 08152447875

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Quick Takes Bolt Supports Lagos State

MEDIA BRIEFING

L-R: Group Head, Corporate Services, Hope PSBank, Cletus Igah; Managing Director, Ayotunde Kuponiyi; Chief Marketing Officer, Kathleen Erhimu and, Group Head, Corporate Communications, Unified Payment Services Limited, Felix Edionwe, during a media briefing to to kick start free registration exercise for National Identification Number by Hope PSBank in Lagos….recently SUNDAY ADIGUN

Analysts Foresee 8% Loan Growth for Banks in 2021 Obinna Chima Analysts at CSL Stockbrokers Limited have predicted an eight per cent loan growth for the Nigerian banking sector in 2021. The Lagos-based firm stated this in a report on its 2021 outlook titled: “Surviving Amidst Uncertainties.” The firm pointed out that at the onset of the pandemic and the subsequent impact on the macro economic environment resulted in minimal loan growth for the banks. It revealed that as of the first nine months of 2020, the banks under its coverage reported an average loan growth of 9.6 per cent, adding that banks were expanding their loan books to meet the Central Bank of Nigeria’s (CBN) minimum loan-to-deposit (LDR) ration. However, it noted that the onset of the virus and the weak macro environment meant many banks had to slow down on loan growth despite CBN’s minimum LDR requirements. “We forecast average loan

ECONOMY growth of eight per cent for the banks under our coverage,” the firm added. It stated that the CBN’s 65 per cent minimum LDR policy and its policy restricting individuals, PFAs and corporates to Nigerian Treasury Bills (NT-Bills), fixed deposits and FGN bonds resulted in a significant decline in asset yields for banks. “With rates still at historic lows, we expect only a marginal improvement in yields as the year progresses. “We expect improvement in non-interest income as banks strive to increase transaction volumes following CBN’s revised fee guide on electronic transactions which took effect in 2020. “Banks were given a forbearance in 2020 ending to restructure loans. With the macro situation still poor, we expect some of these loans to begin to show signs of strain,” it added. In its assessment of the economy generally, it noted that the Nigerian

economy slumped into recession in 2020, occasioned by the headwinds associated with the Covid-19 pandemic. It projected that the economy would contract by 2.7 per cent in 2020 and was projected to exit recession in 2021, supported by the gradual normalisation of economic activities, as the impact of the lockdown in 2020 continues to fade. “We expect growth to be driven by the non-oil sector, supported by gains from agriculture and the telecommunication sectors, the combination of which accounts for about 38 per cent of the GDP basket. “On the Oil sector, we see limited upside, as the output will remain undermined by OPEC cuts. We expect growth to reach 1.4 per cent in 2021. “Downside risks to our forecast are linked to the lingering effects of the pandemic caused by the delayed distribution of effective vaccines,” it added. Furthermore, it noted that consumer prices firmed in 2020, on the back of supply chain disruption

emanating from the pandemic, forex restrictions, border closure and climate related shocks. It also anticipated that inflation would maintain its ascent in 2021, with pressure expected from both the food and core baskets of the CPI. “On the core inflation, we expect pressure from fuel subsidy removal and higher electricity prices. For food inflation, while decision to reopen the border is a positive development, food prices will remain elevated on continued insecurity challenges in food producing regions. “Overall, we expect headline inflation to average 16.4 per cent in 2021, with year-end figure at 14.6 per cent. “Nigeria’s external position worsened in 2020, as continued reliance on oil earnings and hot money has left the country vulnerable to shocks. Current account deficit is projected at 3.4 per cent of the GDP in 2020. “In 2021, current account deficit will narrow, supported Continued on page 24

Shareholders Sue FG over Plans to Borrow Unclaimed Dividends Goddy Egene Determined to stop the federal government from taking over their unclaimed dividends, some shareholders of companies listed on the Nigerian Stock Exchange (NSE), under the aegis of Palm Wealth Shareholders Association(PWSA), have instituted a case against the government at Federal High Court of Nigeria, Abeokuta Division, Ogun State. The Finance Act 2020, signed into law by President Muhammadu Buhari last month provides that any unclaimed dividends of a public limited liability company quoted on the NSE and any unutilised amounts

CAPITAL MARKET in a dormant bank account maintained in or by a deposit money bank which has remained unclaimed or unutilised for a period of not less than six years from the date of declaring the dividend or domiciling the funds in a bank account shall be transferred immediately to Unclaimed Funds Trust Fund. However, PWSA has gone to the Federal High Court of Nigeria, Abeokuta Division to stop the government from transferring the unclaimed dividends to the proposed trust fund. The President of PWSA, Mr.

Simon Emokeraro, said in a statement that the case with Suit No. FHC/AB/FHR/14/2021, which has the Attorney General of the Federation and Minister of Justice, Minister of Finance, Budget and National Planning and Accountant General of the Federation as parties, would be heard on February 25, 2021. According to him, the shareholders are seeking, “an Order of the Hon. Court for the enforcement of the applicants’ fundamental rights to acquire and own immoveable and moveable personal property; an order restraining the federal government, that is, the Respondents from calling for or transferring the unclaimed dividends of the

Applicants in public quoted companies to the unclaimed Funds Trust Fund; an order restraining the Respondents from harassing, intimidating, inviting the companies or their Registrars for the purpose of transferring the unclaimed dividends belonging to the applicants to the Unclaimed Funds Trust Fund contrary to the Constitution of the Federal Republic of Nigeria 1999(as amended), the African Charter on Human and People’s Rights Act, Laws of the Federation.” Others are: an order of the Hon. Court restraining the Respondents from borrowing Continued on page 24

In a bid to ensure optimum safety for all riders in Nigeria, Bolt, a ride-hailing platform in Nigeria recently donated office equipment to the Lagos State Ministry of Transport’s Vehicle Inspection Service Centre. According to the management of the company, the donation was aimed at assisting the centre in the seamless adoption of the new ride-hailing regulations by the Lagos State Ministry ofTransport, providing the necessary documentation for ride-hailing drivers in the State. “This new ride-hailing regulation seeks to address various safety concerns facingtheonlineride-hailingindustryandtoensureeffectiveaccreditation processes for Drivers. “Bolt, through its unwavering commitment to the safety of Nigerians, took the initiative to facilitate the adoption of the policy through this donation,” a statement issued by the company stated. The office equipment was received by the Director of the Lagos Vehicle Inspection Service Centre, Engr Akin-George Fashola, who expressed appreciation of the government towards the gesture. “We are very grateful to the Bolt Team in Nigeria for helping us get more equipmentatthistime.Thisequipmentwillhelpprovideefficientandswift service and enable us to serve the people of Nigeria better, especially as more people seek other opportunities and avenues to make a living for themselves,” it added. Bolthaspreviouslyinvestedincollateralandotherequipmentinimproving the service offered in the respective communities of Nigeria. Femi AkinLaguda, Bolt Country Manager, said “As a leading ride-hailing platform in the country, we pride ourselves as a responsible partner to regulatory stakeholders in playing our part in the communities in which we operate.”

Wema to Reward Customers

Wema Bank has set out to creatively offer its customers a pre-paid gift card, as a means of gifting its loved ones with something remarkable this season. According to a statement, the bank decided to roll out the easy-to-gift items in order to encourage its customers not to hold back from showing love both in cash and kind to those they care for. It stated that to promote the tradition of gift-giving that accompanies the valentine season, “Wema Bank is offering customers a special gift option to share with their loved ones and embarking on a love fiesta of their own: the *945# love campaign.” Members of her online community would win giveaways including goody bags, airtime recharge, purchase discounts and cash prizes. Commentingontheprepaidgiftcardinitiative,WemaBank’sHead,Channels, Damola Bolodeoku said: “We are well aware that during this season a lot of people, including our customers worry about what to get their loved ones. “As such, this compelled us to help them find a solution, therefore offering them a perfect gift such as this. Not only does this card take away what is sometimes a tedious experience in looking for the perfect gift for a loved one but considering the ongoing pandemic and the limitations in movement, we believe it is most convenient in these times.”

Eat‘N’Go Reopens Saka Tinubu’s Outlet

Eat‘N’Go Limited, a leading quick service restaurant operator in Nigeria andfranchiseeofDomino’sPizzaandColdStoneCreamery,hasre-opened its Saka Tinubu outlet as part of the continued efforts to offer utmost satisfaction to its teeming customers. This is coming after the brand shut down its facility for a complete reconstruction in October, following a fire incident which led to the closure of the outlet. The company has now rebuilt and redesigned their flagship store to be an absolute favourite spot in Victoria Island. Marketing Director for Eat’N’Go, Ilyas Kazeem said, “We had to shut down all operations in our Saka Tinubu outlet, for both Domino’s Pizza & Coldstone Creamery in October, due to the unfortunate fire outbreak, we experienced in October. Thankfully, no lives were lost as a result of this, but damages done and forced a total renovation. “We are back, better, bigger, and ready to put some more smiles on our customers faces again. Now all our customers can walk into Domino’s Pizza and Cold Stone Creamery at Saka to enjoy the best of offerings, service and many more.” He further expressed delight and shared his excitement on how Eat’N’Go has taken a step further to provide utmost satisfaction to its customers.

“We need to think about developing regional hubs to boost air transport, so we have to rely on aviation to move people, goods and services across this country,” Governor of Edo state,

Godwin Obaseki

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BUSINESSWORLD ANALYSTS FORESEE 8% LOAN GROWTH FOR BANKS IN 2021 by a gradual recovery in global economic activities and firming crude oil prices. “Against the foregoing, the current account gap for 2021 is estimated at $10.80 billionn (2.31% of the GDP). “Financing these deficits may be challenging, as foreign portfolio investment flows are likely to slowly recover from last year’s troughs. “Also, to correct the current BOP imbalances and pressure, we expect the CBN to devalue the currency,” it stated. The naira was devalued across all the segments of the FX market in 2020, following the pressured external reserves amidst elevated FX demand and waned inflows. “In 2021, with crude oil prices poised to improve alongside dollar dominated-budget facility from the World Bank, we expect the CBN’s monthly intervention to gradually increase to pre-pandemic levels of about $3.2 billion versus current levels of $1.4 billion,” it added. SHAREHOLDERS SUE FG OVER PLANS TO BORROW UNCLAIMED DIVIDENDS

the unclaimed dividends belonging to the applicants; a declaration by the Hon. Court that the applicants have rights guaranteed and protected under sections 43 & 44 of the Constitution of the Federal Republic of Nigeria, Articles 14 and 24 of the African Charter on Human and People’s Rights and Article 17 of the United Nation’s Charter on Human Rights 1945 and sections 42 (1) and (2) of the Companies and Allied Matters Act. A declaration of the Hon. Court that Part XV of the Finance Act 2020 calling for or transferring the Unclaimed dividends of the applicants in public quoted companies to Unclaimed Funds Trust Fund by the respondents without any constitutional grounds is unconstitutional, null and void and of no moment as it violates the applicants fundamental rights and a declaration of the Hon. Court that the applicants are entitled to claim their dividends without coercion, stampede and intimidation from the respondents.

Group Business Editor

Obinna Chima

Profit-taking Slows Down Stock Market Rally Goddy Egene

Eromosele Abiodun The Nigeria Customs Service (NCS), Federal Operations Unit Zone ‘C’, Owerri, said it intercepted various contrabands with a Duty Paid Value (DPV) of N869.55 million between January 1st- 31st, 2021. The Area Comptroller, Yusus Lawal said the seized items included 1,024 cartons of unregistered pharmaceutical products, 1,046 bags of foreign parboiled rice of 50kg each, 290 cartons of imported Eva Soap, 62 jumbo bales of secondhand clothing, and one Toyota Corolla 2018 model (see annex ‘A’ for ease of reference). “It will interest you to know that the 1,046 bags of Foreign parboiled rice were trailed and

Correspondents

Chinedu Eze (Aviation) Eromosele Abiodun (Maritime) James Emejo (Finance) Ebere Nwoji (Insurance) Chineme Okafor (Energy) Emmanuel Addeh (Energy) Reporters

Nume Ekeghe (Money Market) Nosa Alekhuogie (ICT) Peter Uzoho (Energy)

Cutix Plc appreciated by 6.3 per cent,6.0 per cent, 5.6 per cent,5.5 per cent and 3.6 per cent. Conversely, Northern Nigeria Flour Mills Plc led the price losers with 18.8 per cent, followed by NEM Insurance Plc with 18 per cent. Royal Exchange Plc shed 16.6 per cent, just as Guaranty Trust Bank Plc and Livestock Feeds Plc depreciated by 15.6 per cent and 15.0 per cent respectively. Other top price losers included: Ardova Plc(12.8 per cent); Union Bank of Nigeria Plc (11.2 per cent); AIICO Insurance Plc (10.7 per cent); E-Tranzact International Plc and CAP Plc (10 per cent apiece).

evacuated from an unnamed warehouse along Elelenwo Road Portharcourt based on credible and timely intelligence, following lay down operational procedures, rules of engagement and ensued professionalism backed by section 147 and 151 of Customs and Excise Management Act Cap C45 LFN 2004,” he said. He added, “As you all know, it’s our responsibility to ensure full implementation of the government policy banning the importation of rice through land borders and following headquarters directive on same, we re-strategised our operational modalities and beam our searchlight at the creek, water side, and at various locations in south-south, south-east zones and hence the reason for the massive rice seizure within the month

under review.” He further stated that, “More worrisome and of concern to us as an enforcement arm of the Service was the interception of the 1,024 cartons of unregistered Colcaps medicaments imported from India without NAFDAC certification. “Our concern now is to unravel those behind the importation, their accomplices and their antics of scaling through unapproved routes. “The negative effects of unlicensed drugs if gotten to the wrong hands cannot be over emphasised. The drugs were intercepted along Ofosu-Benin Expressway based on shared intelligence. “Equally, the 290 cartons of soap were intercepted along

Aba-Owerri Road based on intelligence. “You may recall that Soaps and detergents are still on the Import Prohibition list, which falls under schedule 3 of Common External Tariff (CET)” Comptroller Yusuf assured that the Unit will continue to make sure smugglers within its areas of jurisdiction count their losses until they repent from sabotaging the Nigerian economy. “Our resolute remains to degrade the activities of smugglers through aggressive patrol of all flanks and flashpoints. We will be very ruthless with these economic saboteurs because we have a responsibility to protect the nation’s economy in line with the expectations of the Federal Government of Nigeria. “In view of this, I wish to

advise and warn smugglers and would be smugglers to be prepared for the battle ahead because we will leave no stone unturned in our effort to up the ante of our anti-smuggling mandate. “There is no amount of resistance from the smugglers and their mob accomplices that will deter us from performing our statutory responsibilities by suppressing smuggling within our zones, ”he stated. He appreciated the robust synergy that exists among the Military, the Police, other security agencies and equally thanked members of the media for the continued support to inform, sensitise and educate the general public on the effects of smuggling to the nation’s economy.

IPMAN Urges PPMC to Rescind Decision on Express Payment Policy The Independent Petroleum Marketers Association of Nigeria (IPMAN), has urged the Petroleum Pricing Marketing Company (PPMC) a subsidiary of Nigeria National Petroleum Corporation(NNPC) to rescind its recent decision to introduce customers’ express payment policy for the members of the association. The association said the PPMC failed to consult it members before such policy was initiated, saying it may hinder proper

Raheem Akingbolu (Advertising)

3,785 deals. Meanwhile, only 16 stocks appreciated last week, lower than 22 equities in the previous week, while 55 equities depreciated in price, lower than 60 equities in the previous week. Mutual Benefits Assurance Plc led the price gainers with 10.5 per cent, trailed by Morison Industries Plc with 10 per cent. MCNichols Plc chalked up 9.5 per cent, just as UPDC Real Estate Investment Trust garnered nine per cent. UACN Property Development Company Plc added 6.6 per cent, while Guinness Nigeria Plc, Academy Press Plc, Fidson Healthcare Plc, Skyway Aviation Handling Company Plc and

Customs Seizes Drugs, Others Worth N869m at Owerri

Comms/e-Business Editor Senior Correspondent

with 2.032 billion shares valued at N13.416 billion traded in 14,832 deals; thus contributing 75.74 per cent and 56.70 per cent to the total equity turnover volume and value respectively. The Consumer Goods Industry followed with 181.766 million shares worth N3.601 billion in 4,676 deals, while the third place was occupied by the Conglomerates Industry, with a turnover of 175.085 million shares worth N324.006 million in 1,168 deals. Trading in the top three equities namely Living Trust Mortgage Bank Plc, First Bank Holding Plc and Zenith Bank Plc accounted for 1.208 billion shares worth N6.580 billion in

CAPACITYBUILDING

Hammed Shittu in Ilorin

Emma Okonji

a zig-zag pattern in the near term as the opposing forces of uptick in yields and full year 2020 corporate earnings releases dictate market performance. “Notwithstanding, we advise investors to take positions in only fundamentally justified stocks as the unimpressive macro story remains a significant headwind for corporate earnings.” In terms of turnover, investors traded 2.683 billion shares worth N23.662 billion in 27,844 deals last week compared with 2.767 billion shares valued at N29.685 billion that exchanged hands in 31,380 deals the previous week. The Financial Services Industry led the activity chart

The year-to-date (YTD) growth of the nation’s stock market has moderated to 0.4 per cent as at last Friday, following persistent bearish sentiment propelled by profit-taking and the gradual return of some investors to the fixed income market. After soaring by 50.03 per cent in 2020, the market gained 5.3 per cent in January as investors remained attracted by high yields and expectation for dividends from the earnings season ended December 2020. However, since the beginning of February, the market has remained under the tight grip of the bears as investors continued to sell to lock in profits. Besides, the uptick in yields in the fixed income market has changed the minds of some investors who are reducing their exposure to the equities market. Consequently, the market has been recording decline that has eroded significant part of the gains recorded in January. The Nigerian Stock Exchange (NSE) All-Share Index (ASI) depreciated by 3.04 per cent last week to close at 40,439.85, the biggest weekly fall in eight years. Similarly, the market capitalisation went down by same margin to close at N21.156 trillion. As a result, the YTD gains printed at 0.4 per cent. According to market analysts, given the yield elevation in the fixed income market in the near term, investors would continue to trade cautiously while taking positions in stocks with attractive dividend yields. L-R: Deputy Director, Institute of Continuing Education/ Senior Lecturer, Mass Communication Department, University of Lagos, Dr. Tayo Popoola; Former They said: “As a result, we Bloomberg Correspondent/World Bank Scholar, Mr.Vincent Nwanma; and General Manager,TheWhistler Newspapers, Mr. Christian Chukwu, during a fiveexpect the local bourse to exhibit dayseminarforbusinesscorrespondents,energyreportersandonlinepublishersheldinLagos...recently ETOP UKUTT

Capital Market Editor

Goddy Egene

NEWS

purchasing of fuel products at the various fuel depots in the country. Addressing reporters in Ilorin at the weekend, the Ilorin NNPC Depot Chairman Alhaji Abdullateef Kamaja, however threatened to call out its members to suspend sale of petroleum products to members of the public in the state if the decision was not rescinded by the PPMC. The association said its action was informed by the recent unfriendly policy of the PPMC. subsidiary of the Nigerian

National Petroleum Corporation (NNPC). He added that, “directs marketers to provide some other prerequisites like bulk purchase agreement renewal (BPA), the procurement involves high cost and a lot of bureaucratic bottlenecks.” Kamaja, therefore urged the PPMC to rescind the decision, noting that it is too sudden as the marketers were not consulted before hand. He said, “The implementation was also so sudden that no marketer could have made any

effort to comply with NNPC guidelines. This to us, is viewed as a means to paralyse IPMAN members’ efforts to contribute to national economic development. “Before the introduction of the present policy there had been many paid tickets from marketers running to billions of Naira in the coffers of the NNPC which were not attended to. “Several factors like network failure and inability of marketers to have code payment militated against the former procedure.” Kamaja noted that, “It is

hereby wished that the current directive is abrogated pending a proper consultation and deliberation with marketers. “It is imperative for the NNPC to always consult with the marketers before bringing up any policy as this will ensure harmonious and peaceful relationship between her and the marketers who act as the bridge to the consuming masses. “If our herein stated suggestions are not met we may have no option than to down tools by closing down our stations.”

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ApapaAccessRoadTaskTeamSeeksNSC’sCollaboration Eromosele Abiodun The newly-inaugurated Lagos State Government Task Team on Restoration of Law and Order on Apapa Ports Access Roads has solicited the cooperation of the Nigerian Shippers’ Council (NSC) to enable it solve the traffic problem in area. The Chairman of the Task Team, Mr. Toyin Fayinka made

the call during a courtesy visit to NSC’s headquarter in Lagos. Fayinka, who is also the Special Assistant on Transportation to Governor Sanwo-olu, said the essence of the delegation’s visit to NSC was to introduce the team to the Council, emphasising that the committee cannot succeed in its assignment without the support of the NSC, Nigerian Ports Authority (NPA) and other

agencies in the maritime sector. General Manager, Lagos Traffic Management Authority (LASTMA), Mr. Jide Oduyoye, who is a member of the team, said LASTMA will not hesitate to sanction any case of indiscriminate parking of trucks on port access roads. He lamented the lack of regulation of truckers and truck ownership, pointing out that most trucks are second hand

and unserviceable. He said minimum standards were required for truck drivers and trucks. Responding, the Executive Secretary/CEO, NSC, Mr. Hassan Bello, described the Apapa traffic situation as an international embarrassment. The traffic in Apapa he said, was affecting the efficiency of the port.

He assured the team that the Federal Ministry of Transportation had prioritised the solving of the Apapa traffic situation. Evidence of this, he said was the on-the-spot assessment visit paid to the ports by the Minister of Transportation, Chibuike Amaechi, the Permanent Secretary, Ministry of Transportation, Dr. Magdalene Ajani and other top officials of the ministry to Apapa in December

2020. He said the implementation committee on the ministerial directives to decongest traffic gridlock along the port access roads and Lagos maritime logistics ring would work in tandem with the task team as a permanent solution to the Apapa traffic problem will benefit all Nigerians by eliminating the distortions in prices of goods imported into Nigeria.

SUNU Assurance’s Private Placement Achieves 100% Subscription Ebere Nwoji Sunu Assurance Plc said it has achieved 100 per cent subscription in the private placement it issued recently, for the purpose of raising fresh capital. The Managing Director of the company, Mr. Samuel Ogbodu, in a statement, expressed delight that the offer of 3,010,800,000 ordinary shares of 50 kobo each at N1.00 per share issued by the company proved to be one of right decisions taken by the company due to the huge success. He said the Securities & Exchange Commission has cleared the basis of allotment of the shares, adding that the Central Securities Clearing System (CSCS) accounts of successful allottees will be credited with shares allotted in February by the registrars to the Issue, Crescent Registrars Limited. The SUNU boss, noted that the company was embarking

on the growth phase while it remains committed to its strategic objectives and core values, which will also guide the future and culture of the company. SUNU Assurance recently expressed its determination to grow its business consistently over the next five years to become one of Nigeria’s 10 largest underwriting companies. Ogbodu, said the company had experienced a remarkable turnaround since the acquisition of the former Equity Assurance Plc in 2016. He added that the insurance company had been transformed from a struggling one on the brink of bankruptcy to a viable insurance company in Nigeria, with a growing reputation for professionalism and prompt claims payment. Ogbodu said the company would leverage on SUNU Group’s expansive retail knowledge and expertise to drive retail insurance in Nigeria and build long-term growth.

Guinness Nigeria Grows Revenue to N72bn in Six Months Goddy Egene Guinness Nigeria Plc, one of the leading beverage and alcohol companies in Nigeria and a subsidiary of Diageo Plc, has reported a growth of N72.351 billion for the half year ended December 31, 2020, showing an increase of 5.9 per cent compared with N68.327 billion in the corresponding of the previous year. Cost of sale rose by 11 per cent from N48.476 billion to N53.765 billion leading to a gross profit of N18.586 billion, as against N19.852 billion in 2019. However, with the devaluation of the naira, financing costs increased significantly by 49 per cent from N1.625 billion to N2.422 billion despite a reduction in the net interest cost on the back of better cash generation. Guinness Nigeria recorded a profit before tax (PBT) of N1.293 billion compared with N1.934 billion while a jump of 160 per cent in tax from N619 million to N1.611 billion impacted the bottom-line to a loss of N317 million, as against a profit of N1.315 billion in the prior period. Commenting on the results, Managing Director/CEO, Guinness Nigeria Plc, Mr. Baker Magunda said: “In the half year ended 31st December 2020, Guinness Nigeria delivered results that reflected the continued

regulatory, competitive and inflationary challenges in the operating environment in Nigeria. “The second quarter of our financial year was significantly impacted by challenges such as the disruptions emanating from the #EndSars protests, the continued restrictions due to COVID-19 which impacted a lot of consumption occasions in the December holiday season, and continued challenged consumer spending in the midst of high inflation. “Despite these challenges, the business recorded good progress against our strategic focus brands.” According to him, they saw growth across locally produced and imported spirits, Malta Guinness, and Ready To Drink (RTDs) brands. “Reduced export opportunities impacted Guinness although the local sales show single digit growth mainly driven by the continued success of the Guinness Smooth innovation. On the overall, it was encouraging to note that the growth is being driven by the brands and categories that the business has strategically chosen to play in,” he added. Looking ahead, Magunda said they will continue to drive their strategy which has deliberate focus on key categories, continuing to innovate to meet consumer needs, and driving productivity.

BUILDINGPARTNERSHIP

Managing Director,Tetra PakWest Africa Mr. Aruna Oshiokamele (left), and Executive Chairman, Onward Paper Mill, Mr. Kunle Obagun, during the signing of recyclingagreementbetweenbothorganisationsinLagos...recently

Report: Lagos Loses N4trn Annually to Traffic Congestion Ugo Aliogo Lagos loses N4 trillion to traffic congestion annually, a study by Danne Institute for Research disclosed in its connectivity and productivity report. The Lagos-based research stated that the challenge was the economic cost estimated at 14.12 million hours lost by Lagosians while commuting to work every day. The institute revealed this at the virtual Transport and Traffic Conference organised by Danne Institute in partnership with BusinessDay Newspaper recently. While presenting the findings of their research at the public-private sector dialogue, the Founder of the institute, Prof. Franca Ovadje,

explained that the long distance between where Lagos residents live and work, among other factors, were major cause of unending traffic jams. The Executive Director also lamented that it was unfortunate that the growth of Lagos megacity was not leading to productivity increases due to the state’s connectivity issues. She said: “We found that the cost to individuals of traffic congestion is N133, 978.68 per annum for those who own their vehicles and N79, 039.40 each year for those who use public transport. “The total loss to Lagos is estimated at 14.12million hours per day or N3, 834,340,158,870 per annum.” In his remarks, the Governor of

Lagos State, Mr. Babajide SanwoOlu, who was represented by the Commissioner for Transport, Dr. Frederic Oladeinde, said Lagos was adopting a multi-pronged approach as the government is convinced that the state cannot spend its way out of congestion. He explained that the strategy of the government was to modernise and maximise existing transport networks. He also stated that the state government would implement the Lagos transport masterplan that proposes investments in a multimodal transport system such as water ways and seven rail lines, “and the development of the millionaire cities so that residents won’t have to go the island to get well-paying jobs or

do business.” On his part, the President of Lagos Chamber of Commerce and Industry, Mrs. Toki Mabogunje, explained that Lagos was struggling to play a catch-up game because growth has outpaced planning for decades. She also said there was need for Lagos government to agree on an operational framework with the federal government so that some federal assets such as roads and ports would be controlled and managed by the state to reduce congestion. Cofounder of BudgIT, Mr. Joseph Agunbiade, urged government to prioritise data, innovation and disruption along with attracting massive private investment to close the transport infrastructure deficit.

Houston EB-5 Unveils Investment Opportunities Goddy Egene Houston EB-5, a company that has helped over 350 immigrants to gain legal permanent residency through the EB5 visa programme by creating qualified and competitive real estate investments in Texas, is now offering new investment opportunities through the Moderno Porcelain Works, which is an operational business versus a large-scale real estate project. Houston EB5 has developed over $1 billion in real estate and has completed the entire lifecycle of the programme from capital investment, issuance of green cards to return of capital and profits. The newest investment offering with Moderno Porcelain Works is designed to successfully benefit from these changes.

In 2019, the United States government implemented changes to the EB-5 Investor Programme as part of a comprehensive EB-5 modernisation law passed by Congress. The most notable change was the increase in the minimum investment amounts from $500,000 to $900,000 for Targeted Employment Area (TEA) investments and $1 million to $1.8 million for non-TEA investments. However, the signing of an executive order ending the travel ban on citizens from more than a dozen countries, including Nigeria, by U.S President, Joe Biden has birthed a new hope. Speaking on the new investment opportunities, Managing Director, Houston EB5, Acho Azuike, said: “By eliminating the travel ban on Nigeria and a dozen more countries, Nigerians

are no longer in limbo wondering what will happen once their EB5 petitions are approved. Since the ban was in effect, some Nigerians were sitting on the sidelines because of the uncertainty, but now can feel confident about the future of EB5.” Also speaking, the Chief Executive Officer of 3Invest, Ruth Obih, said: “This is great news for African investors when it comes to EB-5 investment. With the travel ban lifted, this new investment opportunity allows for immediate investment, flexible investment terms, a limited number of investors, and is backed by a corporate guarantee. With the increase in the minimum EB-5 investment amount, along with political uncertainties in our countries, travel bans, and a global pandemic, people have

been concerned about investing. But, for those who understand this new offering, this is a great opportunity – and the time is now.” “It’s a no brainer to invest in Moderno. With a 5-year loan term, better returns paid yearly, capital repayment backed by a strong corporate guarantee and Maximum of 4 Investors makes it one of the safest EB5 projects available,” Obih added. Speaking further, Azuike explained that Moderno Porcelain Works offer a more personalised investment opportunity and smaller capital raise to begin each project. “Additionally, another attractive aspect of the new opportunity is that returns are paid yearly instead of being accrued,” he said.

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GombeApprovesContractforSolarStreetlightInstallation Segun Awofadeji in Gombe Gombe State has approved over N3.2 billion contract for the installation of solar street lights within the state’s metropolis and its environs. THISDAY gathered that Phase 1 of the project is to cover 71 kilometres of roads across the state capital. Briefing newsmen on the outcome of the 11th SEC meeting held yesterday at Gombe, the State Commissioner of Information, Hon. Ibrahim Alhassan Kwami said the decision by the state

government to change to the solar system as against the current generator powered streetlights was because of the ingenuity of Inuwa Yahaya-led administration in cutting cost, especially in the face of global economic meltdown occasioned by the covid-19 pandemic and other realities. The Commissioner disclosed that the project would take three months to complete. “The cost of diesel is high; the last contract for the diesel that expired this month is N1.14 billion and the contract was entered into

when the cost of diesel was not as high as this. “If we are to renew such contract now for the next one year, the cost may be twice that of the old one because of the increase in the cost of diesel, this is no longer sustainable given the present economic realities, hence the decision to revert to solar street lights which is known to be cost effective, environmentally-friendly and the current energy solution being adopted across the world,” he added. The Gombe State Commissioner of information said the company

that will undertake the contract would also be responsible for maintaining the solar powered streetlights for the period of five years, adding that in the contract package, the firm will also train locals in the maintenance of the street lights going forward. However, speaking in specific terms on the solar powered street lights project, the Commissioner of works, Engr. Abubakar Bappah said the completion period for the installation of the solar street lights is three months, beginning from the day the sites are handed over to the contractors.

“The solar streetlight project is the first of two lots with the second one expected to cover 42 Kilometres dual carriage way,” he said. Also approved at the State Executive Council meeting was the augmentation of BambamTula -Yiri and Bambam- Mona Kutere- Loja road contracts. The Commissioner of Works said the augmentation follows consideration by the Inuwa Yahaya’s administration to execute project that will stand the test of time. “The augmentation for the Bambam Tula Yiri road is Six

hundred and thirty seven million One hundred and Eighteen thousand Two hundred and thirty naira while that of Bambam-Mona Kutere- Loja road stands at Seven and sixteen million Four and Twenty Thousand Four hundred and ninety six naira Ninety seven kobo”. Commenting on the decision, the Commissioner of Environment, Dr. Hussaina Goje said for the project to be successfully implemented, the government had to undertake a Resettlement Action Plan (RAP) in line with the world Bank guideline.

Hope PSBank Begins NIN Registration Emma Okonji and Raheem Akingbolu Hope PSBank, a subsidiary of Unified Payment Services Limited, one of the licensed Payment Service Banks (PSB), has commenced free enrolment of the National Identification Number (NIN) for Nigerians including its customers across the country. Hope PSBank has six regional offices across the geopolitical zones of the country located in Kano, Adamawa, Anambra, Oyo, FCT, Lagos and Rivers state, where it is currently enrolling Nigerians for free. Speaking at a media briefing in Lagos, recently, to announce the NIN enrolment exercise, the Managing Director, Hope PSBank, Mr. Ayotunde Kuponiyi, said the bank was delighted to partner with federal government through the National Identity Management Commission (NIMC) on the NIN registration exercise, noting that this will afford Nigerians the opportunity to register and capture their biometrics seamlessly and quickly. “We are committed to working with the Federal Government to ensure that every citizen enrols for NIN as this will mean an easier identification process that has been lacking” Kuponiyi said. He also explained that Nigerians could on their own, and from the comfort of their homes, register online through the bank’s platform and thereafter visit the nearest enrolment center to capture their biometrics. He further stated that the bank had intensified efforts to rapidly expand the number of enrollment centers as it is currently recruiting thousands of agents that will set up centres for enrolment across the country. While commending the federal government through the Ministry of Communication and Digital Economy for expanding and extending the registration

footprints to the bank, he assured Nigerians of the bank’s readiness to make the registration easier through the platform. Nigerians can register for NIN enrolment by filling the NIN form on Hope PSbank website or mobile app, and then go to, “any of our centers for data capture by presenting just their phone numbers and means of identification.” This, he said would significantly reduce the waiting period at the capture centers. According to Kuponiyi, once the registration is completed, the customer will receive a message which says “thank you for starting your registration, please visit our nearest centre or outlet for your data capturing”. He further said that the customer could view the authorised enrolment centres for biometric capture as contained in the message sent to him or her. “We understand how important this exercise is to Nigerians and we are ready to play our part by ensuring that Nigerians get their NIN through our platform which can be accessed in various designated enrolment centres. “We are quite excited to be the only Payment Service Bank currently undertaking the NIN registration exercise,” he noted. The Managing Director of the digital bank further described the initiative of the bank for NIN registration exercise as a further testament to the quality of services and technological infrastructure available to customers. Also speaking on the project, its Chief Marketing Officer, Mrs. Kathleen Erhimu disclosed that all necessary arrangememts and facilities have been put in place to make the exercise seamless, stressing that adequate personnel have been deployed to all the enrolment centres to make the process much faster than currently experienced.

INVESTMENTOPPORTUNITY

L-R: Head, New Markets, Houston EB5, Roberto Contreras IV; Chief Executive, 3Invest, Ruth Obih, and Managing Director, Houston EB5, Acho Azuike, during ModernoFactorywalkthroughinHouston,Texas,UnitedStates….recently

Firm Launches Android Based NetPOS Devices Emma Okonji NetPlusDotCom, a technology and digital payment company has launched NetPOS devices, an Android-based Point-Of-Sale (POS) systems, enabled to process multiple types payments securely on the go. The device, which is already certified by the Nigeria Interbank Settlement Systems (NIBSS), comes in two variants- the NetPOS Mini and NetPOS Pro devices. Both devices come pre-

installed with the NetPOS Payment App, and the NetPlus Merchant Super App (STORM) which allow utilities and features that allows transactions to be conducted seamlessly. These apps are available for download on the Google Play store. The devices also allow partner apps to be installed to drive efficiency for businesses of all types and sizes. Speaking recently during the online launch of

the devices via Zoom, the founder of NetPlusDotCom, Wole Faroun, said: “With the launch of our NetPOS devices in the market, our plan is to deliver an all in one solution that serves as a smart phone and a POS terminal, thereby giving business owners the luxury of achieving more with even less amount of devices.” The devices are the first locally branded POS terminals and they offer additional branding for partners including banks,

Fintechs and other financial institutions The NetPOS Pro’s practical design infused with topnotch android features, makes selling easy and seamless. The device comes with built in GPS for tracking, a 2-inch Thermal Printer that is quick and efficient and has up to 16GB of storage space, all of which we have made highly secure for your privacy. The device also ensures quick transaction processing on all card payments to QR.

9mobile Launches 4G LTE Service in Ilorin 9mobile has announced the launch of its 4G Long-Term Evolution (LTE) network in the city of Ilorin, Kwara State. This latest addition to the ever-expanding 4G coverage from 9mobile will make it possible for Nigerians in the historic city to join a growing number of 9mobile customersacross the country already enjoying fast and reliable 4G connectivity for their smartphones. With the development, 9mobile’s 4G LTE will power digital experience in Ilorin and

accelerate Nigeria’s broadband penetration target. Speaking about the launch of the 4G LTE service in Ilorin, 9mobile’s Chief Commercial Officer, Stjepan Udovicic, said: “9mobile is working hard to empower Nigerians with worldclass data services and helping to close the digital divide. We are excited to add the historic city of Ilorin to the growing list of cities already enjoying our 4G LTE network. We are committed to delivering innovation and value while building world-class

networks for our customers.” Udovicic invited all customers to take advantage of the special value data offers and enjoy the newly launched 4G service by subscribing to its offering packages. While urging Ilorin residents to get on 9mobile to enjoy an unbeatable data experience, Udovicic pledged the network’s commitment to continue expanding its 4G coverage to more cities nationwide. “As a tech-driven company, 9mobile has always taken the lead

to expand access to improved digital services, and we will continue to do so in more areas very soon. It is our priority to bring 4G services to as many Nigerian cities as possible, and do so as soon as possible,” he said. “With the launch of the 9mobile 4G service in Ilorin, 9mobile subscribers and residents of the city can now enjoy optimised wireless high-speed 4G experience, opening a new chapter of possibilities for productivity and development in the city,” Udovicic further said.

ISP Establishes Regional Presence at Rack Centre AFR-IX, the global Internet Service Provider (ISP) with service coverage in over 50 countries in Africa, has established its major Point of Presence (POP) in Rack Centre, West Africa’s carrier neutral Tier III data centre. Founder and Chief Executive of AFR-IX, Mr. Norman Albi, offer international high quality and personalised Internet and data services to corporates and

telecommunications in the African continent and our extensive pan-African Network covered with terrestrial and submarine cables makes AFRIX one of the leading telecom operating service providers in Africa, and the most reliable and largest metro-Ethernet network withMultiprotocol Label Switching (MPLS). Albi commented on Nigeria as a strategic location for

AFR-IX, saying: “We needed a top-notch carrier neutral data centre facility for our services and connectivity solutions. Rack Centre satisfied our requirements for providing world-class Tier III certified data centre and data centre interconnection to our clients, especially in the West Africa subregion.” Managing Director of Rack Centre, Dr. Ayotunde Coker,

said it was a “delight welcoming AFR-IX to the array of local and global clients hosting in Rack Centre carrier neutral data centre. We will do our utmost as we do with all our clients to deliver outstanding services for AFR-IX to serve its customers in Africa and beyond. “Since inception in 2013 Rack Centre has maintained a 100 per cent uptime and offers

its customers, open access and uncapped interconnect capacities. Its non-affiliation with any telecommunications carrier or Internet Service Providers unlocks access to multiple connectivity providers- over 40 carriers, ISPs and content distribution networks to choose from.” Rack Centre recently announced a $100 million expansion plan as part of the

$250 million that Actis, the UK-based equity firm set aside for data centre investments in Africa. Actis recently took a majority stake in Rack Centre. The investment, according to Coker had immensely impacted and reinforced Rack Centre’s global brand and enables its rapid expansion to realise the market potential for high quality data centres in the region.

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BUA Cement Grow Gross 2020 Full Year Profit to N95bn Goddy Egene BUA Cement, Nigeria’s second largest cement company, has announced full year revenue of N209 billion in its unaudited financial accounts for the full year ended December 31, 2020, showing an increase of 19 per cent 2019. Gross profit printed at N95.432 billion in 2020, indicating an increase of 16 per cent, compared with N82. 443 billion in 2019. BUA Cement Plc’s excellent cost management led to a decline of 33 per cent in net financing cost to N3.438 billion in 2020, from N5.192 billion in 2019.

Also, the focus on efficiency, a strong management team and newer technologically advanced plants resulted in an improved bottom-line with profit before tax (PBT) growing to N79.066 billion in 2020, up from N66.273 billion, while profit after tax (PAT) rose from N60.61 billion to N70.518 billion in 2020. The performance consolidated BUA Cement’s position as one of Nigeria’s most profitable companies – a position it is expected to strengthen further with the inauguration of its new three million Metric Tonnes Sokoto Cement Plant in 2021 and the addition of three new lines

of 9 million metric tonnes total capacity in Adamawa, Edo and Sokoto States by 2023. Commenting, the Managing Director, BUA Cement Plc, E Yusuf Binji, said the exceptional performance in the 2020 financial year was a reflection of the continued value and strength of the BUA Cement brand and product offerings as well as a nod to the excellent implementation of the company’s Business Continuity Plan which ensured that the company was able to withstand the impact of the Covid-19 pandemic throughout 2020. “Despite the prevailing

economic conditions in 2020, BUA Cement remains quite optimistic about the future because it affords us not only with the opportunity to further evolve our business model but also provides an opportunity for accelerated development. We will continue to push to new markets aided by a focused distribution strategy,” Binji had said. BUA Cement in 2020 entered strategic alliances for the supply of Liquefied Natural Gas (LNG) at its Kalambaina Plant, Sokoto State, and for the management of its mining operations. According to the company,

given these deliberate and strategic choices amongst other cost management efforts, it will continue to combine development and innovation into its offerings and activities to drive efficiency, reduce operating costs and maximize profits. Chairman of BUA Cement, Abdul Samad Rabiu, recently said that that despite the strides made in the Nigerian Cement Industry in the past few years, there was still room for immense growth. According to Rabiu, Nigeria with its population of about 200million people was still greatly underserved by the

Cement Industry with current consumption levels at about 130 kilogrammes per head compared to smaller African countries with consumption levels at about 170 to 180kilograms per head. Nigeria’s cement consumption is expected to increase to about 200kilograms per head in coming years which is one of the reasons why BUA Cement is ramping up its investments in new plants to be able to meet this potential demand as well as take advantage of regional export opportunities through the African Continental Free Trade Area (AfCFTA) agreement which came into effect in 2021.

Experts Task Journalists on Effective ‘Increased Investment in Sahel Will Boost Devt of Rural Farmers’ Reporting of Govt Agencies About one million rural of COVID-19, Conflict and of Niger; Maman Sidikou, tation period, the programme Nume Ekeghe and Peter Uzoho Some veteran journalists have advised Nigerian journalists, especially those covering activities of strategic agencies and parastatals of the federal government to redouble their efforts and to always report them appropriately. Such strategic government agencies include the Nigerian National Petroleum Corporation (NNPC), Pensions Commission (PenCom) and the Nigeria Sovereign Investment Authority (NSIA), among others. The journalists who participated in the session at a five-day seminar organised by The Whistler Newspapers, at the weekend in Lagos, with the theme: “COVID-19 and the Journalists: Effective Reporting of the NNPC, PenCom and NSIA”, were urged to up their game by adopting modern technological tools to make their job easier and more efficient. They were also encouraged to put more effort in always probing critical aspects of the operations and mandates of the agencies to keep Nigerians well informed and help entrench transparency and accountability in the establishments. In his presentation, the Senior Lecturer, Mass Communication Department, University of Lagos, Dr Tayo Popoola, urged business journalists to engage in thorough research of the agencies and adopt modern technological tools to help them to effectively report the agencies in this pandemic time. “Recognising and accepting that in this era of COVID-19, conference are now being done virtually, through online. Examples, through the use zoom, Google meetings, Microsoft Themes. Therefore, machineries must be put in place to explore and exploit them for better coverage,” Popoola said. He said journalists could get information on the activities of the agencies from the National Bureau of

Statistics (NBS) and could as well explore the opportunity provided by the Freedom of Information (FOI) Act to demand information from the agencies. Like the NNPC, Popoola said information about operations of the corporation such as the number of barrel of crude oil produced at a particular point in time could be gotten from the NBS. “You want to ascertain how much the country has made, the price at which a barrel of crude oil is sold is never a secret thing, it’s always a public thing. You can do the computation and arrive at whatever point you have,” he added. On his part, a former Bloomberg Correspondent, Mr. Vincent Nwanma, advised journalists to always probe into what the agencies are doing and how their operations are impacting on the lives of average Nigerians as spelt out in their mandates. Nwanma said Nigerians look up to business journalists to probe the government on their behalf on how the nation’s economy is being run and how policies and programme of government really affect their lives. He said the COVID-19 had led to a number of people being laid off, leading to the rise in job losses within the period, saying such development should be interrogated by journalists to know its actual impact especially on the Pensions Commission (PenCom) or the Pension Funds Administration (PFAs). “It is the duty of the journalists to probe these things, so that we will be able to inform Nigerians appropriately. Yesterday, (last Friday), the government approved the Infrastructure Company to address part of the most critical problems we have which is infrastructure. How will that impact on the average Nigerian? What is it doing now for our welfare going forward? “These are the challenges that Nigerian journalists especially business journalists must rise up to. You are the ones who have the ability to inform Nigerians and then criticise the government where they are not doing,” he stated.

people in the Sahel region will benefit from a new joint programme that was recently announced by the International Fund for Agricultural Development (IFAD). According to a statement, the $180.4 million Regional Joint Programme would revitalise economic activities and food systems in the Group of Five Sahel countries and in the Republic of Senegal. The project is known as the Regional Joint Programme Sahel in Response to the Challenges

Climate Change (SD3C) - G5 Sahel + 1 (Burkina Faso, Chad, Mali, Mauritania, and Niger) and the Republic of Senegal. The financing agreements were signed in Ndjamena during the Ministerial Summit of G5 Sahel by Lassané Kaboré, Minister of Economy, Finance and Development of Burkina Faso; Issa Doubragne, Minister of Economy and Development Planning of Chad; Alousséni Sanou, Minister of Economy and Finance of Mali; Mamadou Diop, Minister of Finance

Executive Secretary of G5 Sahel and Nadine Gbossa, Regional Director for West and Central Africa Division of IFAD. Others were Ousmane Mamoudou Kane, Minister of Economic Affairs and the Promotion of Productive Sectors of Mauritania and Nadine Gbossa of IFAD also signed a letter of intent. Amadou Hott, Minister of Economy, Planning and Cooperation of Senegal signed the financing agreement with IFAD. “Over a six-year implemen-

will include IFAD-financed activities implemented in two phases of three years each, with an estimated total cost in phase 1 of $55.7 million and in phase 2 of $53.3 million. “In addition to the US$ 43.3 million approved by the IFAD Executive Board last December, IFAD will finance $65.6 million through future financing cycles or from development partners. The Green Climate Fund is contributing $71.4 million to the Regional Joint Programme,” it added.

YOUR STORY CONFIRMS THAT INDEED GOD, IN HIS INFINITE WISDOM, DOES AS HE PLEASES! THE VACUUM IS FELT BY ALL [SO MANY INDEED] WHO EXPERIENCED YOUR EXCEPTIONAL COMMITMENT TO BEING A BLESSING THROUGHOUT YOUR LIFE TIME! EVER SO KIND & SELFLESS TO THE VERY END! TRULY, LIKE YOUR FRIEND SAID, “THE FLOWER THAT BLOOMS IN ADVERSITY IS THE RAREST & MOST BEAUTIFUL OF ALL” I GRIEVE! BUT I'M CONSOLED KNOWING THAT YOU'LL BE REMEMBERED FOR GOOD! WELL DONE DEARLY BELOVED THANK YOU. REST ON. REST WELL!!!

REVELATION 14:13; 22:11,12

OLUFOLAWEMI

January 1964 – 15th February 2020

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BUSINESSWORLD

NEWS

NCC Warns against Fraudsters Emma Okonji The Nigerian Communications Commission (NCC) has raised the alarm over its cloned Facebook account, advising members of the public not to be deceived by the fake account. In a statement signed by its Director of Public Affairs, Dr. Ikechukwu Adinde, NCC said in the course of its regular online surveillance aimed at protecting telecoms consumers and industry stakeholders, it discovered a spurious Facebook account purporting to be that of the Commission. According to the statement: “We have since contacted Facebook team to take down the fake account. “The fraudulent Facebook account with the name: Nigerian Communications Commission – NCC – Info Zone was opened by unidentified individuals, ostensibly to deceive and defraud unsuspecting members of the public, some of whom,

as NCC believes, may have inadvertently signed on to the fake Facebook account. “It is important to emphasise that the official and authentic Facebook account of the Commission is: NIGERIAN COMMUNICATIONS Commission with over 192,193 followers and the Commission strongly advises the general public and telecom consumers to beware of this cloned Facebook account, as the NCC has no affiliation whatsoever with it.” The statement further said: “This is a typical case of profile cloning often used to create a fake profile identical to an original one, for the purpose of misleading and defrauding unsuspecting general public. “Members of the public are advised to disregard the Facebook page and its content in their entirety. The NCC, as a responsible organisation, will continue to take measures towards protecting telecoms consumers and industry stakeholders.”

Expert Seeks Improved Ease of Doing Business Raheem Akingbolu As part of efforts to strengthen ease of doing business in the country, an expert, Olugbenga Ojo, has inaugurated a platform -Eximtradeoptions - to boost trade in Africa and across the world. Announcing the platform during a virtual event held recently, Ojo, who was an alumnus of the Harvard Law School said unveiling of the new platform was necessary to provide an enabling environment for Nigerian business community, who are keen about exploring foreign markets. “Eximtradeoptions, as a trade platform is being launched to the public to help Nigerian

business community to extend the frontiers of their businesses beyond this sore. “The trade platform which is structured to manage the end to end of the supply chain for both importers and exporters from any part of the world with a protection of the legal framework and insurance against losses, provides array opportunities, with four payment and service packages to accommodate every business interest in the area of international trading,” he stated. Speaking further, the expert, who is a Notary Public in Washington DC and the State of Maryland, pointed out that the trade platform which was launched under the Lakinberg

LLC Firm to boost export and import trade in Africa and the rest of the world will be of benefit to the capabilities of all, including the SMEs. “This new platform creates seamless flow of the supply value chain linked to reputable buyers and sellers around the world,” he added. Also speaking at the event, the Managing Director of NIRSAL, who was represented by the General Manager, Mr. Eze Nwokanwa, harped on the need for businesses to leverage on the new opportunities to deepen their international market penetration. Other speakers at the event, including the Chief Executive

Officer of the Nigerian Export Promotion Council (NEPC) represented by Mrs. Getrude Ukuoanem, Tunde Sodade of Lekki Free Trade Zone and the Head of West Africa Trade and investment Hub USAID Mr. Gary Scotland, represented by Mr. Kara Diallo an AGOA Specialist all spoke on systemic growth through revamping agric-business and exploration of non-oil export. They urged business owners to make use of service providers like Lakinberg LLC, which, according to them, has been strategically created by Ojo, a Corporate Commercial Attorney with expertise in international trade law.

Firm Foresees Growth Opportunities in Online Transactions Njalo.ng, a classified adverts site in Nigeria has recorded growth on its first anniversary despite the coronavirus outbreak that ravaged different sectors of the economy in the past year. The classified site launched operations in January 2020 and has maintained its promise to serve as a free classifieds platform that emphasises safety and convenience to online sellers and buyers. Commenting on Njalo.ng’s first anniversary, the Co-founder/ Chief Technology Officer, Mr. Chukwuemeka Orjiani, said they have made remarkable progress despite rolling out at the twilight of COVID-19 that led to topsy turvy economic year 2020. He said while firms and businesses were sent to survival mode and many who couldn’t cope were forced out of business, however, the year also turned out to be the one where the importance of technology to the human race became more evident. “In the heat of lockdown and social distancing measures that limited human physical contact and activities, technology based services like Njalo.ng served as the bridge between the virtual and human divide. We have not reached out target, but we foresee massive opportunities to create jobs and empower millions of Nigerians,” Orjiani said. Also speaking, the Cofounder/Chief Operating

Officer, Njalo.ng, Sandra Ani, said :That COVID-19 proved that ecommerce and its chain of services were crucial in the digital economy. She said at the time when guidelines were strict, consumers stayed home and did their shopping online, logistics services of ecommerce platforms partnered with governments, especially in Africa, in the movement and distribution of drugs and other medical equipment during the lockdown. “This deserves commendations”, she said. To this end, Ani said Njalo remained a platform that has come to help businesses connect the dots seamlessly. “With an effective visibility on brands/businesses, there has been an increase in sales and return on investment, (ROI). We are looking at introducing a premium package soon which will give businesses even more visibility and buyers will benefit more from it. “Through this platform, a lot of businesses have made massive financial achievements. Cashing out always. It’s a digital age and time, and with a good mobile phone, Njalo will showcase businesses beyond the cubicle, reaching out to a wider audience,” Ani further said. She explained that with robust customer service Njalo. ng would continue to work hard in ensuring that both sellers and buyers were promptly attended to and their needs met.

Companies to Develop Recycling Solutions Emma Okonji Tetra Pak West Africa has signed a recycling agreement with Onward Paper Mill to develop sustainable recycling solutions for post-consumer beverage cartons in Nigeria. The agreement aims to build Tetra Pak’s sustainability effort to drive recycling and proper management on Used Beverage Cartons (UBC), educate the public on waste management while supporting local regulations and responding to customer demands. Speaking at the signing ceremony, the Managing Director, Tetra Pak West Africa, Aruna Oshiokamele, said, “We protect our planet by contributing to the circular economy in recycling all

packaging materials collected. Through our efforts, we have helped to grow the number of facilities that recycle cartons from 40 in 2002 to 170 today, globally.” Executive Chairman, Onward Paper Mill Ltd, Kunle Obagun, said: “This partnership will focus on reducing the presence of UBC in landfill and other waste dumps by engaging in public awareness and supporting the targeted collection of UBC from the consuming public through various campaigns and initiatives in schools and communities. We pleased to be able to kickstart this partnership with this signing.” “At Tetra Pak, sustainability has long been at the heart of our business strategy and our operations both globally

and locally. Our approach to sustainability encompasses our entire value chain – including the environmental, social, and economic challenges we face. “From our School Feeding Programmes to our circular economy commitments, to our Diversity and Inclusion initiatives, we constantly strive towards safeguarding our own employees and supporting communities where we operate and protecting the future of our planet and the long-term success of our customers,” Oshiokamele further said. Onward was established in 1953 initially as a paper trading company that evolved into Onward Paper Mill Ltd, the first indigenous paper converter in 1972, producing exercise books and other

quality paper products and continues to be at the forefront of paper conversion by investing in sustainable technology and innovation. This has led to this partnership to recycle Used Beverage Cartons (UBC) for use as a base raw material in paper production. Onward Paper Mill has an annual production capacity of 20,000 tonnes of paper, boards, and tissue products. Tetra Pak is a world-leading food processing and packaging solutions company. Working closely with our customers and suppliers, it provides safe, innovative, and environmentally sound products that each day meet the needs of hundreds of millions of people in more than 160 countries.

SON Reiterates Commitment to Consumers’ Safety Sylvester Idowu in Warrior No fewer than 26,800 youths have been trained by the federal government under the first and second phases of the N-Built components of the National Social Reinvestment Programme (SURE-P). General Secretary, Nigerian Institute of Building (NIOB), Mr. Christopher Belonwu, made the disclosure in Sapele, Delta State during the 5th Investiture/ Swearing of the elected Executives for the 2020/2022 Session of the

state chapter of the institute. The theme of the event was: ‘Synergy in the Construction Industry: The Role of Builders.’ Belonwu said during the event that the construction industry was a critical driver of the economy that was often used by the government to regulate the economy by way of engaging both skilled and unskilled workforce. “Typical example of government sponsored job creation programs on the construction industry is the Subsidy Rein-

vestment and Empowerment Program (SURE-P). Over 16,800 and 10,000 in the first and second phases of the N-Built components of the SURE-P have been trained by the government. “Despite this huge interest and investment by the Government, the construction industry is yet to attain the expectations of its clients due to the traditional method of construction,” he said. Belonwu who was the guest speaker said the construction industry could only achieve its full potential unless conscious effort

was made by every professional to work together. He urged the builders to unite and have a common focus noting that professional cohesion and understanding their distinct roles were the expectations of the public and which they must practiced. The immediate past Chairman of NIOB, Mr. Kingsley Oghoro, in his valedictory speech said that his administration was able to project the Institute very well at the national level. “We achieved this by executing

all state and national programmes and improving our interactions with the government and other stakeholders in the building industry,” he said Oghoro urged members of the chapter particularly the past Chairmen, Fellows and Elders, to continue to support the new executive to take the Institute to the next level. The newly sworn-in Chairman of the body, Mr Samuel Omiri called for a synergy to be able to move the construction industry forward. “It is by synergising with

government in our individual and several capacities that we can all help to forge the Nigeria of our dreams. I urged fellow professional colleagues to continue to work in unity, be the best we can in our different fields of endeavours,” he said. Mr Paul Akporowho, the Chairman, Association of Professional Bodies of Nigeria (APBN), Delta chapter, urged the builders to synergise and also take advantage of information communication technology to improve their work.

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PIB: Panacea to ills of Nigeria’s Oil Industry? Introduction he Petroleum Industry Bill 2020 (PIB or the Bill) is an omnibus Bill, which seeks to“provide legal, governance, regulatory and fiscal framework for the Nigerian petroleum industry, the development of host communities and for related matters.” The Bill appears to be gaining traction after more than 20 years. It will, upon enactment, completely overhaul the regulatory and fiscal framework guiding Nigeria’s oil and gas industry. Specifically, it will repeal the Petroleum Act, Petroleum Profits Tax (PPT) Act, Deep Offshore and Inland Basin Production Sharing Contracts Act as amended (DOIBPSCA), and several other laws which currently govern the industry. However, there are saving provisions for the operators that choose not to convert to the terms contained in the PIB. The hope is that the passage of the Bill will contribute to a significant increase in the effectiveness and transparency of operations in the Nigerian oil and gas industry and generate increased foreign interest and, in turn, investment. The Bill may be enacted into law before the end of the second quarter of 2021 based on the various comments by the leadership of the National Assembly. However, one lingering question is whether the Bill will be the silver bullet that will cure the ills in the Nigeria’s oil industry. This article will review this question and propose recommendations for addressing the issues arising therefrom.

Issues Arising 1) Attraction of investment into the Oil and gas Industry – According to the Nigerian Capital Importation Report just released by the National Bureau of Statistics, the total capital imported into the country in 2020 was $9.68billion. Out of this, $53.51million or 0.55% was in respect of oil and gas. Certainly, Nigeria requires significant investment for the industry to grow. The country’s ambition has been, for a long time, to increase production to 4million barrels per day and grow reserves to 40billion barrels. To achieve these twin ambitions, we need significant inflow of investments. However, the concern has been that Nigeria is not an attractive investment destination for the oil and gas sector given the challenges facing the industry globally and the need for scarce capital to go to places where the return on capital is more competitive. Oil is not good for any country if it remains unproduced. There are reports that oil demand will grow in the next 10-20 years and remain flat thereafter as a result of climate change, cheaper energy storage costs, cheaper renewable sources and green hydrogen. It is, therefore, imperative that Nigeria do whatever is necessary to produce its reserves more profitably. It is also important that the 2020 PIB (or is it 2021 since we are now in 2021?) address most (if not all) of the concerns of the industry operators to make the Nigerian oil and gas industry more attractive for investors. The concerns raised with respect to the regulatory (mainly voluntary conversion terms of existing licences and the requirement to set up an environmental remediation fund in respect of environmental issues arising from operations. This matter can easily be dealt with by the operators just like they deal with any operational matter without setting up any fund for it) and fiscal provisions in the draft PIB, therefore, need to be addressed. Currently, some operators are placing bets on Botswana, Zimbabwe and Mozambique. We must not allow this to happen if we must succeed. 2) Dual Regulators – The PIB provides for the establishment of the Upstream Regulatory Commission and the Midstream/Downstream Regulatory Authority. The arguments for the dual regulators are hinged on the need to reduce the span of control of one regulator and focus on the midstream/downstream and not just on extraction. While these arguments cannot be faulted; however, it is important that the benefits outweigh the cost, given the associated cost of running

two regulators. 3. Incorporation of NNPC - The Bill provides for the registration of NNPC limited within 6 months of the enactment of the enabling Act. At incorporation, the Ministry of Finance will hold the shares of NNPC Limited on behalf of the Nigerian government. The shares of the Company will only be transferable subject to government approval, and in an open, transparent and competitive bidding process. The PIB provides for the appointment of 2 non-executive directors though the President will appoint the entire members of the Board while the Company remains wholly owned by Government. Thereafter, the composition of the Board shall be in accordance with the provisions of the Companies and Allied Matters Act and its Articles of Association. NNPC Limited will take ownership of rights to gas and petroleum production (including joint ventures) under the arrangements undertaken by NNPC prior to the effective date. One question that has surfaced is whether the mere incorporation of NNPC Limited

Both the Government/ National Assembly and industry operators should engage an independent consulting Firm to evaluate the issues and concerns raised by the operators and the need to boost oil revenue while enhancing competitiveness. This will greatly help to narrow the differences and enhance transparency and trust between both parties

will make it profitable and comparable to leading national companies such as Equinor, Petronas and Saudi Aramco. The resounding answer to this question is NO, given what we know of NNPC. There needs to be a wholesale change of mindset, establishment of strong performance culture and institutionalization of good corporate governance and best practices. The earlier the government reduces its holding in the company, the quicker it will be for it become profitable. 4. Continued relevance of Niger Delta Development Commission (NDDC) – The major objective of the NDDC is to ensure that the ‘sums received from the allocation of the Federation Account for tackling ecological problems arising from the exploration of oil minerals in the Niger Delta area’ are effectively administered and managed. However, just like its predecessor, the Oil Mineral Producing Areas Commission (OMPADEC), the NDDC appears to have failed in discharging its statutory responsibility. Despite the existence of the NDDC and the Ministry of Niger Delta, the oil operators continue to sign and implement Global Memoranda of Understanding (GMoU) with their host communities to facilitate seamless operations and the sustained development of the Niger Delta. Though the GMoU has achieved relative success, it has its drawbacks. Consequently, the PIB provides for the establishment of the Host Community Fund to which operators will contribute 2.5% of their operating costs incurred in the preceding year. So, the question is should the operators continue to contribute 3% of their annual budget to NDDC? Will the contribution to the host community be deducted from the NDDC contribution? Is the NDDC itself relevant given that the proposed arrangement in the PIB will better address the problems in the area? 5. Discretionary allocation and mandatory relinquishment – The Petroleum Act contains provisions discouraging discretionary allocation while encouraging mandatory relinquishment of oil blocks. Similar provisions are in the PIB. However, the issue is

not what the law says but implementing the provisions of the law. This has been the major problem facing successive administrations in the country. The relevant question, therefore, is what guarantees are there in the PIB to ensure that these provisions are implemented to the letter? Consequently, all the stakeholders (including the media and civic society organizations) in the industry have a big role to play in monitoring transparency and compliance with the law. 6. Separate companies for midstream/ downstream operations – The PIB requires upstream companies to incorporate separate entities for midstream/downstream activities – This will trigger significant issues for existing operators, especially with respect to viability of current projects, transfer of assets/liabilities, transfer of staff and related obligations, compliance costs, transfer pricing issues. This provision, therefore, needs to be revisited. The Bill may consider grandfathering existing projects or those projects in respect of which Final investment Decisions may be taken before the coming into force of the PIB. Alternatively, the government may consider ring fencing those operations without the requirement for incorporating separate entities. Conclusion While it important to pass the PIB speedily, it is equally important that the National Assembly do not just pass any bill. Whatever is worth doing is certainly worth doing well. Consequently, the proposal that the PIB be passed ‘as is’ and then amended subsequently through the annual Finance Acts should not be the way to go. Both the Government/ National Assembly and industry operators should engage an independent consulting Firm to evaluate the issues and concerns raised by the operators and the need to boost oil revenue while enhancing competitiveness. This will greatly help to narrow the differences and enhance transparency and trust between both parties. t"KBZJ !XBMFTK JT UIF 1BSUOFS )FBE 5BY &OFSHZ BOE .BOBHFE 4FSWJDFT ,1.( JO /JHFSJB $PVOTFMMPS PG UIF 'VOE

MONDAY FEBRUARY 15, 2021 •T H I S D AY

MONDAY FEBRUARY 15, 2021 • T H I S D AY

IMAGES

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Photo Editor ÌÓÙÎßØ ÔËÖË Email ËÌÓÙÎßØ˛ËÔËÖË̶ÞÒÓÝÎËãÖÓàÏ˛ÍÙ×

L-R: Senator representing, Benue South Senatorial District, Senator Abbah Moro, Governor of Benue State, Samuel Ortom and house of representative member, Samson Okwu during press brieﬁng while governor expressing his displeasure about how federal government handling the issue of bandit and Fulani Herdsmen in Abuja...recently PHOTO: AYO AJAYI

L-R; Lagos State Commissioner for Agriculture, Abisola Olusanya; Hon. Minister of Works and Housing, Mr Babatunde Fashola SAN; and the Lagos State Governor, Mr. Babajide Sanwo-Olu during the commissioning of the Lagos State Mechanized Abattoir under the Management of Lion Unisco Enterprises at Ayoola Lawal Street, Ilaje, Bariga, Lagos…recently

L-R: Chairman, House of Representatives Committee on Public Accounts, Rep. Wole Oke; members of the committee, Rep. Solomon Maren and Rep. Gaza Gbeﬁro, during the committee’s meeting with Atlantic Plastic Ltd.; Best Works Consult and Solar Associate Ltd., at the National Assembly Complex in Abuja...recently

Ogun State Governor, Dapo Abiodun displaying his All Progressives Congress membership slip at his hometown, Iperu, Ogun State...recently

L-R; INEC Commissioner; Barr May Agbamuche Mbu; Inec Chairman, Prof Mamould Yakubu and Inec Commissioner, Festus Okoyr Esq at the Independent National Electoral Commission (INEC) Quarterly Consultative Meeting with the media held in Abuja. ..recently PHOTO: JULIUS ATOI

L-R: Coordinator of North-East, Arewa Youth Federation (AYF), Malam Zarewa Sageer; President of AYF, Comrade Adamu Matazu; National Vice President, North-West, AYF, Dr Hamza Talbs; and Secretary to Vice President North-West, Alhaji Yahaya Garba, during a press conference passing a vote of conﬁdence on leadership qualities of Inspector General of Police, Mohammed Adamu, at AYF Secretariat in Abuja...recently

L-R:Commissioner for Information and Strategy, Mr. Gbenga Omotoso; Attorney General & Commissioner for Justice, Mr. Moyosore Onigbanjo (SAN) and Lagos State Commissioner of Police (CP), Mr. Hakeem Odumosu, during a press brieﬁng on the position of the State Government on the planned #EndSARS Protest (#OccupyLekkiTollGate) in Lagos at the Bagauda Kaltho Press Centre, Alausa...recently

MONDAY FEBRUARY 15, 2021 • T H I S D AY

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CITYSTRINGS

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Skill Acquisition Rooted in Culture For some women and youth in Oredo Federal Constituency, the recently organised skill acquisition training was not just rooted in their rich cultural heritage, but also provided them with an alternative source of income that would guarantee self-reliance, Chiemelie Ezeobi reports

Beneﬁciaries of the training during the practical

Some of the participants displaying their certiﬁcates of participation

hen the Centre for Black and African Arts and Civilisation (CBAAC) was established, it was on the premise that it would promote African heritage and culture. Strategically, as a foremost cultural agency, CBAAC has a key mandate and plays a crucial role in making Nigeria the arrowhead in the presentation, preservation, promotion and propagation of African cultural heritage. Recently, in consolidation of that, the centre collaborated with Hon Omoregie Ogbeide – Ihama, Chairman House Committee on Culture and Tourism, on the federal government’s Zonal Intervention Project, which was a three-day skill acquisition training on bead and soap making at Oredo Federal Constituency of Edo State. Cultural Skill Acquisition At the workshop, an introductory lecture on the unique importance of beads in African tradition kicked off the sequence. According to the facilitator, beads are unique element of culture used in adorning and embellishing ones dress, adding that beads are a mark of royalty that distinguishes royal families from their subjects. She also stated that beads have a long history among Africans and are used for various reasons including cultural symbols used in celebration of womanhood, sexuality, femininity, fertility, healing, spirituality, protection, etc, adding that the meaning, colours and different shapes of beads varies from one culture to the other. “Besides their physical adornment, beads are among the oldest known symbols used by humans across time and space. Beads have social, cultural, political and religious significance in Africa, as the continent more than any other region of the world, has used bead more prominently,” she added. The facilitator also emphasised on the unique importance of beads as one of the earliest occupation that provided steady source of income to those involved in the bead making occupation. Thereafter, the facilitators taught the participants the rudiments of bead making and methods of designing different type of beads; from the royal beads to the common beads. On the training for soap making, the facilitator, simply identified as Mrs Susan said that soap making as a profession in Africa dates back to ancient time, adding that African

Hon Ogbeide-Ihama, House Committee Chairman Culture and Tourism addressing participants at the event

Director General of the Centre for Black and African Arts and Civilisation, CBAAC, Hon Oluwabunmi Ayobami Amao

Black soap is known for its unique skincare features that eradicates skin irritations, rashes, pimples, dermatitis, psoriasis and, also soothe the skin. Stating that traditional black soap is a mixture of water and ashes of plantain skins, cocoa pod powder and palm oil, she noted that every culture have their pattern of producing their soap as there are different varieties and style of making different kind of soap.

that would enable participants to be gainfully employed. “Bearing in mind the challenges of modern living, the training programme will not only afford participants the opportunity to take pride in their rich cultural heritage but also provide them with an alternative source of income that would guarantee self-reliance,” he posited.

Alternative Economic Source The Chairman, House Committee on Culture and Tourism, Hon Omoregie Ogbeide-Ihama who was represented at the Training for Beads and Soap making event noted that the end goal of the training was to ensure participants are provided with an alternative source of income. While thanking the Director General of CBAAC, Hon Oluwabunmi Ayobami Amao (FITP) for her efforts in ensuring that the empowerment training programme for women and youth turned out a huge success, he also pledged to support the centre towards achieving her statutory global mandate. Hon Ogbeide-Ihama who was particularly elated by the large turnout of participants informed the audience that the training programme was organised as a skill acquisition programme

Enhancing Capacity In her remark, the DirectorGeneral of CBAAC, Hon Amao, ably represented by Mr Adesegun Dosumu,?expressed delight and informed the audience that the zonal intervention project is a programme of the federal government designed to make the locals enjoy the benefits of good governance. She urged participants to utilise the opportunity provided through this platform to acquire new skill that would empower them economically, just as she pledged that CBAAC will continue to organise and support events that would enhance the capacity of women and youths to meet the challenges of modern living in the 21st century. She said: “ I am glad that under the current administration of President Muhammadu Buhari, women and youths are not left out of the programmes and activities

of the government. In fact, it is an indisputable fact that women and youths constitute the fulcrum of all government economic empowerment programmes. “And, this weeklong training programme on bead and soap making in Oredo was a glaring testimony to the federal government‘s efforts in encouraging our women and youths. It is on this note that I appreciate and thank Hon. Ogbeide – Ihama for collaborating with CBAAC in the hosting of this very important event. “This is a very welcome development and a good step in the right direction if culture is to be fully harnessed for national development. Craft is one of Nigeria’s socio-economic and cultural heritages passed down from our forebears to the present generation. It is a skill that ensures economic independence by providing job opportunities for our teeming population. “Crafts such as bead making is a form of cultural and artistic expression and, craft products are highly diversified across the country. This means that there are large markets for items of craft and Nigerian youths and women should seize the opportunity of this huge market to engage themselves in crafts instead of seeking greener pastures outside the country with its unpleasant drawbacks. “There are many craft-based cottage industries in Nigeria producing varieties of works like leather-works, glass-works, iron, cane-weaving, pottery, bead-making, etc. Therefore, encouraging bead making among our women and youths is a way of translating culture into functioning economic activity that would lead to self-sufficiency and enhance the diversification of the economy. “With what is happening in the world today – the level of unemployment skyrocketing due to the global pandemic, having a skill ensures that one has a constant source of income and livelihood as those with skills and creative ideas are usually gainfully employed. It therefore gladdens my heart to see that you have all gathered here to learn how to make beads and soap, which I am very sure will be useful to you. “Finally, I wish to commend and encourage youths to put in their best in whatever vocation they find themselves; particularly as it relates to arts and craft. And of course, you must as a matter of importance, cultivate a good reading habit, that is the road to a successful and fulfilled life.”

MONDAY FEBRUARY 15, 2021 • T H I S D AY

T H I S D AY ˾ ͯͳ˜ 2021

BUSINESS/MONEYGUIDE

NDEP Appoints New MD/CEO Peter Uzoho The Niger Delta Exploration & Production Plc, an independent and integrated energy company in Nigeria has announced the appointment of Mr. Adegbite (Gbite) Falade as its new Managing Director and Chief Executive Officer. Falade joins NDEP with 25 years of extensive experience across multiple sectors and continents in the energy sector. According to a statement, he succeeds the pioneer Managing Director, Dr. Layi Fatona, who in an interim position, had supported the running of the affairs of the company since October 2019. A First Class (B.S.c) graduate (1995) of Electrical & Electronics

Engineering from the University of Ibadan, he also holds an MBA from Warwick Business School, Coventry, in the United Kingdom. Gbite has in the past 14 years served in various Senior Executive positions in the Oil & Gas, Power and Services sectors, with responsibilities for Engineering, Operations, Project Execution, Commercial, Client & Stakeholder Management, Strategy and Enterprise Development. He was previously the Managing Director and Group Chief Operating Officer at Oilserv Group of Companies based in Port Harcourt. Prior to that, he had served variously as General Manager, Portfolio Development and Chief Operating Officer (COO) at Oando Energy Re-

sources as well as Executive Director, Oando Gas & Power. He was also the Petroleum Economics Discipline & Portfolio Lead for Shell EP, Africa. According to the Chairman of NDEP, Mr. Ladi Jadesimi, “With a nimble and proven Technical Management, a young but competent operating workforce and a mature Board of Directors, Gbite will be charged with leading the company in a well-charted and structured manner, to deliver the continuation and, indeed, enhancement of our historical steady growth.” He also expressed confidence that NDEP’s position as Nigeria’s No.1 fully integrated Energy Company will be sustained under Mr. Falade’s leadership.

FirstBank Records 86,000 Firstmonie Agents First Bank of Nigeria Limited has announced the provision of loan facilities – up to one million naira – to its banking agents, – Firstmonie Agents. The bank currently has over 86,300 Firstmonie Agents, spread across 772 of the country’s 774 Local Government Areas. A statement explained that with its location in every neighbourhood, Firstmonie Agents have been integral to filling the financial exclusion gap, providing convenient banking services that are easily accessible, thereby saving time and travel costs for individuals in the suburbs and remote environments that have no access to financial services.

It noted that the bank’s financial inclusion activities are in line with the mandate of the Central Bank of Nigeria (CBN) to ensure the availability of affordable financial products and services to all individuals and groups of people in the country; irrespective of location, literacy levels, familiarity with technology and accessibility to modern infrastructural facilities. The Firstmonie Agent channel is amongst the bank’s many initiatives to expand financial access in the country. Appreciating the Firstmonie agents, Group Executive, e-Business & Retail Products, First Bank of Nigeria Limited,

Mr. Chuma Ezirim said, “the roles played by our Firstmonie Agents in promoting businesses across the nooks and crannies of the country cannot be overemphasised as they have continued to set the pace in extending financial inclusion to communities with little or no access to financial services. “With our Firstmonie agents in every neighbourhood, several communities have witnessed a surge in business and financial activities, which is contributory to national growth and development. We commend our Agents and are delighted to support them with credit facilities, which they can access 24hours a day in less than 2minutes.”

Ecobank Holds Stakeholders’Engagement Ecobank Nigeria has concluded arrangement to host a webinar to provide information on how banks can effectively help educational institutions and faith based organisations through digital banking offerings. The webinar which is part of Ecobank Digital Series scheduled to holds on Tuesday, February 16 2021, is titled “Digital Enablement of education and faith: Winning tools for new normal lifestyle”. The Vice Chancellor, Covenant University, Ota, Ogun State, Prof. Humphrey Adebayo, is expected to be the Keynote Speaker while Commissioner of Education, Ekiti State, Mrs Olabimpe Aderiye, National President, National Association of Proprietors of Private Schools (NAPPS), Chief ‘Yomi Otubela and Former Deputy Managing Director, Fidelity Bank, Alhaji Mohammed Lawan Balarabe will be Guest Speakers. Speaking ahead of the event, Moji Oguntoyinbo, Segment Head, Public Sector and Agribusi-

ness, Ecobank Nigeria, said the webinar was set to highlight the opportunities in digital banking for schools and faith-based organisations in the face of the Covid 19 pandemic, stressing that, functional digital technologies are being employed by these institutions as a shaping force and additional channels to reach a wider audience in addition to their existing members and patrons, while maintaining the core principles on which they are premised. According to her, “This is an opportunity to assure educational institutions and faith based organisations that we have in place top-notch digital solutions that would enhance their collections and transactions while they face their core responsibilities. “Coming in the wake of the pandemic, technology-based solutions are touching all aspects of life. Institutions which are ill-prepared to adapt to these changes are challenged by

inadequate funding to obtain digital devices, urbanize the teaching staff, provide high speed internet, source for eBooks, create and manage apps as well as social media. “In addition, involvement of distributive technology in the performance of their duties to society, is severely limited. Our products are designed to bridge this gap and meet funding and other financial needs quickly and efficiently.” Oguntoyinbo also announced that the bank would launch two products during the event. They are the Ecobank Stewardship Account and Ecobank School Bundle respectively, for religious and educational institutions at all levels. She explained that the Ecobank school bundle is designed to help educational institutions manage their banking needs more effectively so they can concentrate on providing world-class education.

Venezuela Receives More Airlifts of Refinery Materials from Iran Venezuela has begun to receive a second round of airlifts of materials from ally Iran to help its troubled oil refineries to produce fuel, according to three people familiar with the matter and publicly-available flight-tracking data. The shipment of catalysts to the 955,000 barrel-per-day (bpd) Paraguana Refining Complex (CRP) in western Venezuela comes after Iran sent more than

a dozen flights to the area last year to help restart the 310,000 bpd Cardon refinery and alleviate acute gasoline shortages in the OPEC nation. Reuters disclosed that Iran has also sent three flotillas of vessels carrying fuel to Venezuela, whose oil industry has collapsed after years of underinvestment and mismanagement, as the two U.S. adversaries boosted economic

ties in an effort to stay afloat despite escalating sanctions from Washington. The United States in January 2019 sanctioned state oil company Petroleos de Venezuela as part of a push to oust President Nicolas Maduro, accused of rights violations and rigging his 2018 re-election. Washington has heavy sanctions on Iran to try to get Tehran to abandon its nuclear program.

Falade

MARKET INDICATORS MONEY AND CREDIT STATISTICS

(MILLION NAIRA)

JULY 2020 Money Supply (M3)

36,822,751.47

-- CBN Bills Held by Money Holding Sectors

3,476,121.25

Money Supply (M2)

33,346,630.22

-- Quasi Money

120,764,479.02

-- Narrow Money (M1)

12,582,151.19

---- Currency Outside Banks

2,002,026.89

---- Demand Deposits

10,580,124.31

Net Foreign Assets (NFA)

7,637,137.23

Net Domestic Assets(NDA)

29,185,614.24

-- Net Domestic Credit (NDC)

39,711,115.95

---- Credit to Government (Net)

19,521,851.08

---- Memo: Credit to Govt. (Net) less FMA

0.00

---- Memo: Fed. and Mirror Accounts (FMA)

0.00

---- Credit to Private Sector (CPS)

-130,189,264.87

--Other Assets Net

3,472,017.70

Reserve Money (Base Money

13,421,827.07

--Currency in Circulation

2,395,917.03

--Banks Reserves --Special Intervention Reserves

11,025,910.04 317,234.17

˾ 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, 11 FEBRUARY 2021

The price of OPEC basket of thirteen crudes stood at $60.54 a barrel on Thursday, compared with $60.45 the previous day, according to OPEC Secretariat calculations. 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) SOURCE: OPEC headquarters, Vienna

T H I S D AY ˾ ͯͳ˜ ͰͮͰͯ

Mixta Real Estate Quotes N1.7bn Commercial Paper on FMDQ Exchange Goddy Egene The FMDQ Securities Exchange Limited has approved the quotation of the Mixta Real Estate Plc N1.66 billion Series 33 Commercial Paper (CP) under its N20 billion CP Issuance Programme. The move was part of the exchange’s efforts towards empowering the Nigerian financial market. According to FMDQ, the quotation of the Mixta Real Estate

Plc N1.66 billion Series 33 CP is another testament of exchange’s leadership and resilience in providing the required support to governments, corporates and individuals through the delivery of innovative and dependable capital market solutions. “The CP market has continued to prove a viable alternative for corporate entities in diverse business areas looking to secure short-term funding for working capital requirements and other

P R I C E S MAIN BOARD

F O R

DEALS

capital expenditures. It avails them with numerous opportunities to carry on with key business activities which contribute to the revitalisation of the Nigerian economy despite the pandemic,” it said. FMDQ noted that like all other securities listed quoted and traded on platform, The Mixta CP, shall be availed global visibility through FMDQ Exchange’s website and systems, transparency through its inclusion in the FMDQ daily

S E C U R I T I E S

MARKET PRICE

QUANTITY TRADED

VALUE TRADED ( N )

Quotations List, governance and continuous information disclosure to protect investor interest, credible price formation amongst other benefits derived from its preferred admission to the FMDQ Exchange platform. FMDQ explained that despite the underperformance of the Nigerian real estate sector last year, as affected by the negative impact of the COVID-19 pandemic, operators in this sector are optimistic that there could be

T R A D E D MAIN BOARD

A S

an early rebound in 2021. “However, affordability continues to be a major limiting factor to home ownership at the bottom of the income pyramid in Nigeria due to the high inflation rate and cost of building materials. As the leading organiser for the Nigerian debt capital market (DCM) and in its role as a catalyst for infrastructure development, FMDQ Securities Exchange Limited provides a choice platform for the regis-

O F

trations, listings, quotations, and trading of debt securities, towards empowering the Nigerian financial market,” it said. Mixta Real Estate PLC (“Mixta”), a subsidiary of Mixta Africa, is a leading real estate development company in Nigeria. It has a strong track record and diverse real estate portfolio, with operations spanning the residential, commercial, and retail sectors of the Nigerian real estate industry.

1 1 / 0 2 / 2 0 2 1 DEALS

MARKET PRICE

QUANTITY TRADED

VALUE TRADED ( N)

MONDAY, FEBRUARY 15, 2021 ˾ T H I S D AY

MARKET NEWS

Mutual Benefits Assurance Posts N20bn Premium, N5.1bn Profit Goddy Egene

Plc has reported a profit 31, 2020, up from N3.772 results showed that insurance in 2020, compared with before tax of N5.114 billion billion recorded in 2019. firm posted gross premium N18.698 billion in 2019. Net Mutual Benefits Assurance for the year ended December Details of the unaudited written of N20.194 billion underwritten income stood at A Mutual fund (Unit Trust) is an investment floor of the Nigerian Stock Exchange. Offer price: The price at which units of a trust or vehicle managed by a SEC (Securities and A REIT (Real Estate Investment Trust) is an ETF are bought by investors. Exchange Commission) registered Fund Manager. investment vehicle that allows both small and Bid Price: The price at which Investors Investors with similar objectives buy units of the large investors to part-own real estate ventures (eg. redeem (sell) units of a trust or ETF. Fund so that the Fund Manager can buy securities Offices, Houses, Hospitals) in proportion to their Yield/Total Return: Denotes the total that willl generate their desired return. investments. The assets are divided into shares that return an investor would have earned on An ETF (Exchange Traded Fund) is a type are traded on the Nigerian Stock Exchange. his investment. Money Market Funds report of fund which owns the assets (shares of stock, Yield while others report Year- to-date Total bonds, oil futures, gold bars, foreign currency, GUIDE TO DATA: Return. etc.) and divides ownership of those assets into Date: All fund prices are quoted in Naira as at 11- NAV: Is value per share of the real estate shares. Investors can buy these ‘shares’ on the Feb-2021, unless otherwise stated. assets held by a REIT on a specific date.

N16.7 billion, while profit after tax printed at N4.548 billion as against N3.612 billion.

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 158.35 159.93 6.91% Afrinvest Plutus Fund 100.00 100.00 27.24% Nigeria International Debt Fund 362.50 362.50 -9.16% Afrinvest Dollar Fund 115.25 115.25 1.00% ALTERNATIVE CAPITAL PARTNERS LTD info@acapng.com Web: www.acapng.com, Tel: +234 1 291 2406, +234 1 291 2868 Fund Name Bid Price Offer Price Yield / T-Rtn ACAP Canary Growth Fund N/A N/A N/A ACAP Income Funds N/A N/A N/A 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 N/A N/A N/A AIICO Balanced Fund N/A N/A N/A 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 0.55% Anchoria Equity Fund 133.37 134.83 0.32% Anchoria Fixed Income Fund 1.19 1.19 -10.20% 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 18.46 19.02 1.79% ARM Discovery Balanced Fund 393.92 405.80 -1.61% ARM Ethical Fund 35.34 36.41 4.84% ARM Eurobond Fund ($) 1.20 1.21 -1.60% ARM Fixed Income Fund 1.05 1.06 -5.81% ARM Money Market Fund 1.00 1.00 0.48% AXA MANSARD INVESTMENTS LIMITED investmentcare@axamansard.com Web: www.axamansard.com; Tel: +2341-4488482 Fund Name Bid Price Offer Price Yield / T-Rtn AXA Mansard Equity Income Fund 127.30 128.20 0.90% AXA Mansard Money Market Fund 1.00 1.00 1.45% CAPITAL EXPRESS ASSET AND TRUST LIMITED info@capitalexpressassetandtrust.com Web: www.capitalexpressassetandtrust.com ; Tel: +234 803 307 5048 Fund Name Bid Price Offer Price Yield / T-Rtn CEAT Fixed Income Fund 2.05 2.05 -42.58% Capital Express Balanced Fund(Formerly: Union Trustees Mixed Fund) 2.19 2.23 -25.30% CHAPELHILL DENHAM MANAGEMENT LTD investmentmanagement@chapelhilldenham.com Web: www.chapelhilldenham.com, Tel: +234 461 0691 Fund Name Bid Price Offer Price Yield / T-Rtn Chapelhill Denham Money Market Fund 100.00 100.00 1.95% Paramount Equity Fund 16.03 16.34 0.28% Women's Investment Fund 133.17 134.69 0.06% CORDROS ASSET MANAGEMENT LIMITED assetmgtteam@cordros.com Web: www.cordros.com, Tel: 019036947 Fund Name Bid Price Offer Price Yield / T-Rtn Cordros Money Market Fund 100.00 100.00 1.23% Cordros Milestone Fund 2023 130.23 131.10 Cordros Milestone Fund 2028 N/A N/A Cordros Dollar Fund ($) 108.86 108.86 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 1.00 1.00 1.27% Coronation Balanced Fund 1.17 1.19 -2.12% Coronation Fixed Income Fund 1.52 1.52 -4.20% 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 1.16% EDC Nigeria Money Market Fund Class B 1,000,000.00 1,000,000.00 1.08% EDC Nigeria Fixed Income Fund 1,169.82 1,171.77 -2.56% 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 Fixed Income Fund 1,343.23 1,343.24 -4.01% FBN Balanced Fund 185.71 187.09 -1.05% FBN Halal Fund 109.79 109.79 -1.56% FBN Money Market Fund 100.00 100.00 1.19% FBN Nigeria Eurobond (USD) Fund - Institutional 123.43 123.43 1.51% FBN Nigeria Eurobond (USD) Fund - Retail 123.57 123.57 1.50% FBN Smart Beta Equity Fund 150.83 152.76 -0.23% FCMB ASSET MANAGEMENT LIMITED fcmbamhelpdesk@fcmb.com Web: www.fcmbassetmanagement.com; Tel: +234 1 462 2596 Fund Name Bid Price Offer Price Yield / T-Rtn Legacy Money Market Fund N/A N/A N/A Legacy Debt Fund N/A N/A N/A Legacy Equity Fund N/A N/A N/A Legacy USD Bond Fund N/A N/A N/A FSDH ASSET MANAGEMENT LTD coralfunds@fsdhgroup.com Web: www.fsdhaml.com; Tel: 01-270 4884-5; 01-280 9740-1 Fund Name Bid Price Offer Price Yield / T-Rtn Coral Growth Fund N/A N/A N/A Coral Income Fund N/A N/A N/A FSDH Treasury Bills Fund N/A N/A N/A GREENWICH ASSET MANAGEMENT LIMITED assetmanagement@gtlgroup.com Web: www.gtlgroup.com ; Tel: +234 1 4619261-2 Fund Name Bid Price Offer Price Yield / T-Rtn Greenwich Plus Money Market Fund 100.00 100.00 0.72% Nigeria Entertainment Fund 127.56 128.10 18.56%

GROWTH & DEVELOPMENT ASSET MANAGEMENT LIMITED assetmanagement@gdl.com.ng Web: www.gdl.com.ng ; Tel: +234 9055691122 Fund Name Bid Price Offer Price Yield / T-Rtn GDL Money Market Fund 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 0.19% Vantage Balanced Fund 2.70 2.77 17.94% Vantage Guaranteed Income Fund 1.00 1.00 4.50% Kedari Investment Fund (KIF) 156.23 156.74 0.54% Vantage Dollar Fund (VDF) - June Year End 1.16 1.20 23.27% 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 N/A N/A N/A Lotus Halal Fixed Income Fund N/A N/A N/A 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 N/A N/A N/A Meristem Money Market Fund 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 1.62 1.65 5.42% PACAM Fixed Income Fund 12.21 12.33 8.83% PACAM Money Market Fund 10.00 10.00 1.50% PACAM Equity Fund 1.59 1.61 PACAM EuroBond Fund 109.06 111.65 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 133.56 136.51 12.29% 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 1.01 1.01 0.77% 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 2,521.35 2,532.80 -2.01% Stanbic IBTC Bond Fund 210.33 210.33 0.57% Stanbic IBTC Ethical Fund 0.88 0.89 -0.85% Stanbic IBTC Guaranteed Investment Fund 273.87 273.95 0.52% Stanbic IBTC Iman Fund 154.92 156.64 -0.12% Stanbic IBTC Money Market Fund 100.00 100.00 1.34% Stanbic IBTC Nigerian Equity Fund 7,674.15 7,756.30 -3.33% Stanbic IBTC Dollar Fund (USD) 1.24 1.24 0.73% Stanbic IBTC Shariah Fixed Income Fund 111.54 111.54 0.41% UNITED CAPITAL ASSET MANAGEMENT LTD Web: www.unitedcapitalplcgroup.com; Tel: +234 803 306 2887 Fund Name Bid Price Offer Price Yield / T-Rtn United Capital Balanced Fund N/A N/A N/A United Capital Bond Fund N/A N/A N/A United Capital Equity Fund N/A N/A N/A United Capital Money Market Fund N/A N/A N/A United Capital Eurobond Fund N/A N/A N/A United Capital Wealth for Women Fund N/A N/A N/A United capital Sukuk Fund N/A N/A N/A QUANTUM ZENITH ASSET MANAGEMENT & INVESTMENTS LTD service@quantumzenithasset.com.ng Web: www.quantumzenith.com.ng; Tel: +2349031100041 Fund Name Bid Price Offer Price Yield / T-Rtn Zenith Equity Fund 12.31 12.44 3.83% Zenith Ethical Fund 13.58 13.70 11.17% Zenith Income Fund 24.15 24.15 0.72% Zenith Money Market Fund 1.00 1.00 1.70%

REITS NAV Per Share

Yield / T-Rtn

121.29 52.51

0.46% 0.21%

Bid Price

Offer Price

Yield / T-Rtn

13.36 121.76 98.45

13.46 121.76 100.31

1.05% 0.02% -0.92%

Fund Name SFS Skye Shelter Fund Union Homes REIT

EXCHANGE TRADED FUNDS Fund Name Lotus Halal Equity Exchange Traded Fund SIAML Pension ETF 40 Stanbic IBTC ETF 30 Fund

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

3.88 5.83 17.73 1.00 20.04 179.88

3.92 5.91 17.83 1.00 20.24 181.88

2.58% 2.40% 8.31% 0.91% -2.34% -18.65%

NAV Per Share

Yield / T-Rtn

108.05

13.11%

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.

MONDAY FEBRUARY 15, 2021 • T H I S D AY

MONDAY FEBRUARY 15, 2021 •T H I S D AY

MONDAY FEBRUARY 15, 2021 • T H I S D AY

MONDAY FEBRUARY 15, 2021 •T H I S D AY

MONDAY FEBRUARY 15, 2021 • T H I S D AY

MONDAY FEBRUARY 15, 2021 •T H I S D AY

MONDAY FEBRUARY 15, 2021 ˾ T H I S D AY

NEWS

Again, Suspected Herdsmen Kill Three Farmers in Ondo James Sowole in Akure Three farmers were last Saturday evening allegedly killed by suspected Fulani herders at Ijugbere axis of Owo Local Government Area of Ondo State. A source said the herders shot the three farmers while they were in their farms. The Senior Special Assistant to the state Governor, Rotimi Akeredolu, on Agriculture, Mr. Akin Olotu, confirmed the incident in a telephone interview. Olotu said he was called by the villagers, who narrated what happened to him, describing

the killing of the farmers as unfortunate. According to the governor’s aide, “Those blaming the governor for ordering illegal occupants to vacate the forest should bury their heads in shame,” adding that there may be famine in the land because farmers can no longer go to their farms. Olotu said: “Rain will soon start now and when farmers cannot go to their farms, such will be dangerous. This is the kind of things that the governor was trying to avoid when he gave the order that unregistered herders should vacate the state forest.

“The governor did not say anyone should leave, he only said herders should register before they can be in the forest so that the government can identify who is operating here. “The Central Bank of Nigeria (CBN) has written to us under the cassava programme that farmers

are complaining that they cannot go to farms because herders are destroying their farms.” The state Police Public Relations Officer (PPRO), Mr. Tee- Leo Ikoro, said he had not been briefed on the incident. Ondo State had recorded killings of farmers allegedly by

suspected herdsmen since the beginning of the enforcement of the order of the state governor directing unregistered herders, to vacate the state forest reserves. Last Thursday, suspected herders killed a farmer and a member of a vigilance group at Sanusi village also in Owo

area of the state. The suspected herdsmen also burnt the operational vehicle and some motorcycles of the State Security Network (Amotekun Corps), which responded to the distress call of the villagers after killing of the two persons at Sanusi village.

Bandits Kidnap 21 Passengers as Chief of Staff to Niger Gov Escapes Abduction Laleye Dipo in Minna Not less than 21 passengers travelling in the Niger State Government-owned transport authority (NSTA) vehicle were yesterday abducted by suspected bandits in Kundu village near Zungeru in the Yakila District of Rafi Local Government Area of the state. This is just as the Chief of Staff to the state Governor, Alhaji Abubakar Sani Bello, Alhaji Ibrahim Balarabe, who a few minutes before the bandits struck, passed through the village, and escaped being kidnapped. The District Head of Yakila, Alhaji Abdulhamid, was kidnapped over three months ago in the area, and has not been released by the bandits. The incident, according to reports, occurred at about 3p.m. when the bandits laid ambush as the public transport vehicle ran into the blockade. It was learnt that not less than 21 of the passengers in the

ill-fated bus which was said to be carrying almost 40 passengers, were kidnapped and taken into captivity. The Director-General of the Niger State Emergency Management Agency, Alhaji Ibrahim Inga, who confirmed the incident to THISDAY in a telephone interview, said the Chief of Staff to the governor got to the spot of the incident shortly after the passengers had been abducted and taken into the bush. Inga said: “We met a woman with her child who was left behind by the bandits, and she told us that 18 other passengers in the bus have been taken away by the bandits, who she said numbered about 40 and were heavily armed. “The only thing I can tell you now is we have rescued the woman and her baby, and she is in the vehicle with us. We are on our way to Minna. She told us that the bandits blocked the road and went away with 18 other passengers who were on the bus.

ONWARD TOGETHER…

L-R: Immediate past Chief of Naval Staff, Vice Admiral Ibok-Ette Ibas; his wife, Mrs. Theresa Ibas; the new Chief of Naval Staff, Rear Admiral Awwai Gambo; and his wife, Mrs. Aisha Gambo, during the pulling out parade of the immediate past Chief of Naval Staff in Lagos... weekend

Inter-ethnic Conflicts: Act Now, Matawalle Begs Buhari The Governor of Zamfara State, Mr. Bello Matawalle, has called on President Muhammadu Buhari to take a decisive action to stop the inter-ethnic violence in parts of South-west. Matawalle made the call yesterday through a statement signed by his spokesperson, Mr. Zailani Bappa. The governor issued the statement in reaction to the violence on Friday at Shasha market in Ibadan that pitted hoodlums from two ethnic groups against each other. The governo condemned what he described as “ethnic

discrimination and regional dichotomy” in Nigeria, and appealled to Oyo State Governor, Mr. Seyi Makinde to douse the violence in his domain. Matawalle, who sympathised with the victims of the ethnic attack, called on President Muhammadu Buhari to take decisive action on the spate of violence gripping some SouthWestern states and gradually turning into criminality. “It is inexcusable that at this stage of our journey as a nation, we are yet to come to terms with the fact that God has made it a destiny for us to live as one

people. It is unfortunate that while our counterparts elsewhere are fusing up from particularity to generality as a people, we are fast sliding backwards from semblance of generality to particularity as a people’, Matawalle said. He noted that ethnic hate and regional dichotomy will not lead the country to whatever Nigerians think they can gain out of it but backwardness and doom. “I also urge my colleague, the Governor of Oyo state to take concrete steps in curtailing the ongoing senseless attacks and ensure that such happenings do not occur again. We are battling

with insurgency and banditry as a nation and here are supposed law abiding citizens unleashing mayhem on innocent citizens to compound the spate of insecurity in the country’, Matawalle added. “We must eschew primitive hatred against one another and learn to live with ourselves as one people. Our common enemy is not among those we live in the same community, buy and sell from one another, but those who take up arms against us in the name of banditry and insurgency,” he explained.

Daredevil gunmen yesterday stormed a Pentecostal Church in Ughelli, Delta State, killed a police officer and carted away his AK-47 rifle. Security sources told THISDAY that the deceased, identified as Inspector Ninyel Nwangwang, was shot three times by his assailants before snatching his rifle and sped off in a Toyota Camry car. It was also learnt that the police

the time of the incident. Worshippers at the popular Pentecostal church located on Oviri-Ogor road in Ughelli, scampered in different directions for safety, following the gunshots that disrupted the service. “The service abruptly came to an end at about 11.15 a.m. when gunshots rented the air inside the church premises. Worshippers ran in different directions to escape from the church auditorium.

come out, only to discover the police officer in a pool of his blood and his rifle taken away,” an eye witness said. However, the Delta State acting Police Public Relations Officer (PPRO), Mr. Bright Edafe, said he was not aware of the incident at the time of filing this report. Meanwhile, the senior police officer in Ughelli confirmed the incident, disclosing that the policeman was confirmed dead

He said the victim had accompanied a female guest to the church and was outside the church building within its premises when the gunmen struck. “The armed men came to the church premises and shot the police officer three times after which his service rifle was taken away. He was immediately rushed to Central Hospital Ughelli, where he was confirmed dead,” he said.

Four Dead, 10 Others Gunmen Invade Church, Kill Police Inspector in Delta Missing in Ijebu Ode -Benin “It was when the gunmen at the Central Hospital Ughelli, inspector, until the attack, was serving at the PMF 31, Ogwashi- escaped that some youths where he was rushed for medical Sylvester Idowu in Warri Expressway Accident Uku, and was on escort duty at summoned up the courage to attention. No fewer than four persons were yesterday burnt to death, while 10 passengers were missing in a lone accident involving a commercial bus at Atoyo, inbound Ogbere along Ijebu-Ode-Benin Expressway in Ogun State. The Public Relations Officer, Ogun Traffic Compliance and Enforcement Corps, Mr. Babatunde Akinbiyi, confirmed the incident to journalists in Abeokuta, the Ogun State capital. According to Akinbiyi, the accident, which occurred around 11:50 am, was caused by a brake failure and disobedience on the part of the driver of the bus. He said, “A tanker loaded with black oil inbound Benin on the Ijebu Ode-Benin expressway, spilled its content on the road due to leakage from the tanker and had to stop when the attention of the driver was called by other drivers driving in the same direction. “However, when TRACE, FRSC, and the police got to the scene, they had to divert and re-route traffic, so that inbound traffic to Benin can join the

outbound traffic section. “Because it is not safe for vehicles going inbound to drive on the black oil which has already covered the length and breadth of the inbound section. “The driver of the commercial bus disobeyed the warning at the diversion point and chose to drive on the black oil. “In the process, the driver experienced a brake failure, lost control, and ran into the bush hitting a tree in the process before the vehicle was engulfed in fire, burning four passengers to death out of the 14 onboard the bus. “The whereabouts of the remaining 10 cannot be ascertained.” He added that the deceased was burnt beyond recognition, adding that the number plate of the vehicle could not be ascertained. Akinbiyi explained that the Ogbere Divisional Police Command had taken over the case, adding that the driver of the tanker loaded with the black oil already in the custody of the police.

House to Probe CBN Accounts from 2014 to 2019 Udora Orizu in Abuja The House of Representatives Committee on Public Accounts may next Thursday probe the financial records of the Central Bank of Nigeria (CBN) to ascertain the state of their audited accounts from 2014 to 2019 and the evidence of its rendition to the office of the Auditor-General of the Federation (AuGF). This was disclosed by the Chairman of the committee, Hon. Wole Oke, during a chat

with journalists at the weekend. Oke stated that the office of the AuGF has powers under the law to conduct periodic checks on some critical agencies of the government such as the CBN, Nigerian National Petroleum Corporation (NNPC), Nigerian Ports Authority (NPA), Shippers’ Council and the Nigerian Maritime Administration and Safety Agency (NIMASA). He said the committee had written to the apex bank and other related agencies of the

government to appear before it with copies of their audited accounts arising from the queries of the auditor-general within the period under review and show evidence of submission to the office. He said that though the bank sent a senior officer as its representative in one of its meetings, the CBN Governor, Godwin Emefiele, was required to come by himself. The lawmaker said: “As for rendition of accounts, we have a referral from the House to

investigate non-rendition of accounts. We have written to CBN on this and one of their directors appeared and carefully took a date to render the account if any. But if they have not, we will all see it when they appear, so that is the situation. ‘’They are coming here next week Thursday. We invited them and they honoured our invitation last Thursday. The governor could not come, but he sent a very senior director. We are talking about 2014 to 2019 accounts.

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NEMA Explains Staff Disengagement Ejiofor Alike The National Emergency Management Agency (NEMA) has denied report that it sacked 48 workers, one year after recruitment, clarifying that it did not sack any staff. In a statement issued yesterday by the NEMA’s Head of Media and Public Relations, Manzo Ezekiel, the agency said it “only correctly nullified a questionable and hurriedly arranged recruitment that was marred by irregularities and lack of adherence to established procedures for recruitment into the public service”. The statement added that those who claimed to have been sacked were candidates of that spurious exercise. The statement disclosed that although approval was obtained from the NEMA Governing Council for recruitment in 2018, there are other complementary and critical procedures that were not followed, which effectively invalidated the exercise. “These include obtaining approval from the Office of the Head of Civil

Service of the Federation with regards to established vacancies and manpower budget. The supervising ministry of NEMA, the Federal Ministry of Humanitarian Affairs, Disaster Management and Social Development, was also completely excluded from the recruitment. The standard protocol dictates that the Ministry, which was created and assigned a supervisory role over the Agency in 2019, must be briefed and involved in such exercises,” the statement explained. Reacting to the allegation that salaries of the said candidates were unpaid for one year, the statement argued that NEMA does not pay salaries of Public Servants. It explained that the confirmation of recruitment and payment of the salaries of a Public Servant on a continuous monthly basis follows established standards, including due recruitment process in accordance with Public Service Rules, stressing that if successful, the candidate’s data is captured by the Office of the Accountant General of the Federation. NEMA stated that on formal resumption of duties, the

candidate’s payment transfer details are captured by IPPIS for regular payment of salaries and allowances. “To emphasise, the Federal Government of Nigeria will neither enrol nor pay the salaries of any candidates of a questionable recruitment that failed to follow this due process as was the case in the said 2019 exercise,” the statement explained. The agency also clarified that the roles of the Federal Character Commission (FCC) were intended to give credibility to the exercise, adding however, that the participation of the FCC alone does not vitiate the responsibilities of the Supervising Ministry or the statutory roles of the Office of the Head of Civil Service of the Federation. It also clarified that the involvement of the Public Service Institute of Nigeria (PSIN) in the recruitment exercise is not a necessary condition in the recruitment process as enshrined in the Public Service Rules (PSR).

Extra-judicial Killing: Edo Court Sentences Police Constable to Death Adibe Emenyonu in Benin-city Edo State High Court in Benin-city, the state capital, has sentenced to death by hanging a dismissed Police Constable, Joseph Omotosho, who was a member of the defunct Special Anti-Robbery Squad (SARS) of the state police command. He was accused of conspiring in the extra-judicial killings of a car dealer, Benson Obodeh, along with four others who escaped during the jail break in Benin last year. The dismissed police constable, Omotosho, along with Corporals Adeleke Adedeji, Abena John, Oniyo Musa, Henry Shobowole

were found guilty after undergoing a court trial on an eight-count charge bordering on conspiracy to steal and murder in alleged car theft incident that happened in 2015. On May 19, 2015, Corporals Adeleke Adedeji, Abena John, Oniyo Musa, Henry Shobowole, and Constable Joseph Omotosho, who was dismissed from the police operations attached to SARS of the Lagos State Police Command, came to Benin-city to carry out an arrest on suspected criminals. One of the persons listed for their raid was a 26 year-old Benin-city-based car dealer, Benson Obodeh, who was among the

suspected criminals alleged to have stolen a Peugeot car in Lagos. On May 21, 2015, Obodeh was reportedly arrested in his home. On evidence account provided, it was revealed that the same day after his arrest, the news of his death filtered in, after he was suspected to have been subjected to torture that led to his death at the custody of the five police officers, his corpse was later dumped at the Central Hospital in Benin-city, with a different name written on his lifeless body when his remains was claimed by the mortician who received the body from one of the Police Corporals that allegedly killed him.

Senator Condemns Suspected Herdsmen’s Attack onYewaland that the federal government and the workable report/solution to the Deji ElumoyeinAbuja The Chairman of the Senate Committee on Finance, Senator Olamilekan Adeola, has condemned the alleged invasion, destruction and killing of indigenes of Yewaland by suspected Fulani herdsmen. Attacks resulting in several deaths and destruction of properties had occurred at Yewa North and Yewa South Local Government Areas without the authorities stemming the tide. Adeola, in a press release he issued in Abuja yesterday, stated

Ogun State Government should rise up to its constitutional responsibility of protecting the lives and properties of all Nigerians, particularly the peace loving people of Yewaland in Ogun State. The ranking senator, who is also a native of Yewaland, stressed that he had cried out about the deteriorating security situation in the country adding that urgent steps should be taken by the authorities to address the ugly trend the security situation. He, however, stressed that the body needed to come up with a

government to abate the spate of arson and killing against the people of Yewaland. His words: “Let it be stated that as a representative of the people who swore to uphold the constitution and the laws of the land including the right to self defence, I will not hesitate to join my people in the defense of their rights to life, property and peaceful coexistence, especially at the seeming failure of duly constituted authorities to defend such fundamental rights against anyone or forces.”

CORRIGENDUM In our front page story titled “Zipline Introduces Innovatory Strategy to Fight COVID-19 in Nigeria,” published on February 11, 2021, we reported that in December 2020, the Kaduna State Governor, Malam Nasir El-Rufai went into self-isolation after testing positive to COVID-19. We have since found out that the governor tested positive on March 28, 2020, contrary to the December 2020 date stated in the story. His isolation in December 2020 was merely precautionary following exposure to family members and senior government officials who had tested positive to the virus. The error is regretted. -Editor

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Two Boko Haram Commanders, NAF Personnel Killed as Troops Foil Ambush By Kaduna Bandits Kingsley Nwezeh in Abuja Troops of Operation Tura Takai Bango, a subsidiary of Operation Lafiya Dole weekend killed two most wanted Boko Haram commanders, Abul-Bas and Ibn Habib. The elimination of the terrorists is coming as troops of the 271 Nigerian Air Force (NAF) Detachment weekend foiled an ambush set up by a group of over 100 armed bandits at Ungwan Laya near Birnin Gwari in Kaduna State. New Director, Army Public Relations, Brig. Gen. Mohammed Yerima announced the killing of the insurgents. Yerima said the renewed offensive operations by troops of Operation Tura Takai Bango inflicted heavy casualty on fighters of Boko Haram and the Islamic State of West Africa Province

He said troops of 121 and 151 Battalions killed the terrorists during a fierce encounter at the crossing point between Vuria and Guja settlements along Banki Junction Road – Pulka axis. ”During the ambush, the troops neutralised three terrorists, the most wanted terrorist commanders known as Abul-Bas and Ibn Habib. “The troops also recovered 3 x GPMG, 7 x AK47 rifles, a belt of ammunition containing 446 rounds of 7.62mm, one boxer motorcycle and one ITEL 2160 mobile phone among others,” he said. The Army Spokesman pointed out that Abul-Bas and Ibn Habib were among the top Boko Haram commanders of the Shekau faction operating in Sambisa forest and environs. According to him, “the two terror commanders have been on the Intelligence watch-list for sometime. Abul-Bas was a

PDP Cautions against Fuel Another Fuel Price Increase Chuks Okocha in Abuja The Peoples Democratic Party (PDP) yesterday charged the All Progressives Congress (APC) and its government to perish any thoughts of further increase of fuel price in the country. The PDP said that it has been made aware of discussions and consultation in the APC and its administration for further increase of fuel price from the unbearable N170 to a higher figure. The PDP in a statement by the National Publicity Secretary, Mr. Kola Ologbondiyan said, “Our party cautions the APC to immediately perish such contemplations as it would amount to pushing the already impoverished Nigerians to the wall - a situation that might result in public restiveness and acerbation of agitations in the land.” The party lamented that Nigerians are groaning heavily under the weight of economic hardship and high costs occasioned by the unjustified increase in the price of fuel to an unbearable N170 per liter last November, adding that any new

hike might become the last straw that can break the camel’s back. According to the main opposition party, this is because there is no way Nigerians can survive a further fuel price increase with its attendant increase in cost of goods and services, which will worsen the current agonising economic situation, where over 90 million citizen live in abject poverty, with an alarming 23 per cent unemployment rate and many more living below N500 a day. The PDP restated that the APC and its administration have no justification ever to increase fuel prices to even above N100 per litre, when there are practical options available to maintain affordable price template, given the national production capacity and potentialities. The party condemned the bizarre attempt by the APC administration to compare the domestic fuel price to those of other countries where their governments are sincere and working hard in running productive economies that boost purchasing power of citizens.

Kaigama Urges Nigerians to Show True Love onValentine The Catholic Archbishop of Abuja Diocese, Most Rev. Ignatius Kaigama yesterday called on Nigerians to use the Valentine’s Day celebration to show true love to others. According to him, true love should be reflected in daily human interactions and relationships, marriage, and society because “love is the greatest and without love we are nothing.” The cleric said that until humanity shows true love to others, all they say would be ineffective and incomplete, their belief insufficient, their gift insignificant and all accomplishments inadequate. The cleric stated these in his Homily delivered at Our Lady Queen of Nigeria Pro-Cathedral, Abuja. He urged Nigerians to be

solid in the defence of human life and the promotion of good home training of children in the family, the domestic Church. “Be advocates of the culture of life and promoters of the dignity of the human person at a time when family life is threatened by marital crises and modern ideologies that are inimical to life. You must endeavour to reconcile families in trouble and formulate programs that will instil the good upbringing of children”. As the world celebrates Valentine’s Day, the Bishop argued that it should be about true love in daily human interactions and relationships, in marriage and in the society, adding that St. Paul states that love is the greatest and without love we are nothing.

top commander second to Abu Fatima while Ibn Habib was the BHT Commander in charge of Njimia and Parisu camps in the Sambisa Forest”. He stressed that “the neutralisation of Abul-Bas and

Ibn Habib by our gallant troops has inflicted a big blow on the operations of the terrorists and has further boosted the morale of own troops in the ongoing operation “Tura Takaibango”. According to him, the Chief

of Army Staff (COAS), Major General Ibrahim Attahiru has commended the troops for this feat and other successes being recorded in the theatre. Meanwhile, troops of

the 271 Nigerian Air Force (NAF) Detachment weekend foiled an ambush set up by a group of over 100 armed bandits at Ungwan Laya near Birnin Gwari in K a d u n a S t a t e .

MOVES TO DOUSE TENSION…

L-R: Special Adviser on Security to Oyo State Governor, Mr. Fatai Owoseni; Ondo State Governor, Mr. Rotimi Akeredolu; Oyo State Commissioner of Police, CP Ngozi Onadeko; and Oyo State Governor, Mr. Seyi Makinde, during their visit to Sasa Market, Ibadan… yesterday

Emirates Extends Date for Suspension of Flights from Nigeria to March 10 Chinedu Eze The United Arab Emirates, Dubaibased mega carrier, Emirates Airlines, has extended the date for suspension to airlift Nigerian passengers from the Abuja and Lagos airports to March 10, 2021. The airline said in a statement signed by its management that it would on March 10, 2021, review its protocols, and may begin outbound flights from Nigeria after that date. The airline had earlier stated that it would resume the outbound

flights from February 28, 2021, but now “expressed regret that it would extend the suspension to March 10.” The statement issued by the airline was also in tandem with the mail sent to its Nigerian passengers, telling them that the February 28 date of reopening flights would not be feasible, but stated that it would continue to operate flights from Dubai to Nigeria. The statement titled: ‘Temporary Suspension of PAX uplift from Nigeria to Dubai-update’, said: “In

line with government directives, passenger services from Nigeria (Lagos and Abuja) to Dubai are temporarily suspended until March 10 2021. Customers from both Abuja and Lagos will not be accepted for travel prior to or including this date. Passengers who have been to or connected through Nigeria in the last 14 days are not allowed entry into the UAE (whether terminating in or connecting through Dubai). Emirates flights from Dubai to Lagos and Abuja will continue to operate as per the

normal schedule. We regret the inconvenience caused, and affected customers should contact their booking agent or Emirates call centre for rebooking. Emirates remains committed to Nigeria, and we look forward to resuming passenger services to Dubai for our customers when conditions allow,” the airline said. It also stated that the operational status of Emirates services from Nigeria after the March 10, 2021, is under review and further updates would be published in due course.

Ganduje Swears in 44 LG Chairmen, to Name Bridge after Buhari Ibrahim Shuaibu in Kano Kano State Governor, Abdullahi Umar Ganduje, has sworn in the newly elected 44 local government area chairmen, and 484 councillors in the state. Speaking during the swearingin ceremony, which was held at the Kano Pillars stadium at the weekend, Ganduje tasked the newly elected councils chairmen to prioritise the implementation of the free and compulsory education policy introduced by his administration in their respective

local government areas. “As you are all aware, education in Kano State is free and compulsory from basic to secondary schools; it is pertinent for all of you to see that you also support this free and compulsory education policy of the state government,” he said. The governor charged the chairmen to ensure the security of their respective areas, urging them to pay close attention to community policing by working closely with security agencies at their various communities.

According to him, “You just have to work closely with the security agencies at your various communities. This is absolutely necessary. We all know how peaceful Kano State is peaceful. In fact, it is the most peaceful state in northern Nigeria. Therefore, I implore you to take the issue of security seriously.” He urged the chairmen to undertake projects that would have direct impact on the grassroots, especially in the areas of security, education, agriculture, health, among other areas.

The governor appreciated the Kano people for conducting a peaceful and successful election where the All Progressives Congress (APC) swept all the seats. He also commended President Muhammadu Buhari for railway projects across the country, noting that the initiative would boost Nigeria’s economy. According to Ganduje, apart from the Lagos-Ibadan-KadunaKano rail line project, the president has also laid the foundation of Kano-Jibiya- Maradi and KanoJigawa railway project.

Northern Youths Urge Makinde to Prosecute Perpetrators of Shasha Clash Segun Awofadeji in Bauchi Oyo State Governor, Seyi Makinde, has been called upon to urgently fish out all those involved in the crisis at Shasha area of Ibadan, the state capital, and prosecute them according to the laws of the land, to serve as deterrent to others who want to do same thing. The call was made by the Convener of Northern Youth Consultative Initiative (NYCI),

Bappare Mohammed, who spoke to selected journalists yesterday, saying: “The attack on innocent Hausa men last Saturday at Shasha community of Oyo State is condemned by all men of good conscience and conviction.” Mohammed stated that: “It should be noted that on several fora, the leadership of Northern Youth Consultative Initiative has been calling for sincere unity of Nigerians irrespective of ethnic or

religious affiliation.” He, however, lamented that: “But calls of such manner has conspicuously been hindered from thriving by merchants of violence that are hell-bent on fanning the embers of crisis and disunity for their selfish gains. “Attack of such magnitude will eminently cause reprisal across the country, which shall bring nothing but bloodbaths across the country. “Therefore, we urge Governor

Makinde and other governors whose states are bedeviled with serious security threats to do everything possible to prosecute culprits and sponsors of these unfortunate incidents. The unity of Nigeria is sacrosanct. “Finally, we implore Northern youths to remain calm and lawabiding by not taking laws into their hands. Nigeria is ours; we have no any other place on earth more than our dear country.”

MONDAY FEBRUARY 15, 2021 ˾ T H I S D AY

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My Statement Meant to Avert Nationwide Backlash of Herders’ Controversy, Says Bauchi Gov Insists Fulani herders carry AK-47 for self-defence Segun Awofadeji in Bauchi Following series of backlash trailing his recent comments on the herders’ controversy, Bauchi State Governor, Senator Bala Mohammed has defended himself, saying that he was misunderstood, insisting however that carrying of AK-47 by Fulani herders was a

last option for self-defence. Mohammed had alleged that his counterpart in Benue State, Mr. Samuel Ortom, started the herdsmen’s crisis by not accommodating the herders. The governor, who justified the carrying of AK-47 by herdsmen, saying it was for self-defence, had also accused the southern

Shasha: Probe Yoruba, Hausa Clash to Avoid Further Crisis, OPC tells Buhari

governors of mishandling herdsmen’s crisis. He insisted that all forests belong to Nigeria and that the Nigerian Constitution guarantees all Nigerians to settle in any place of their choice. Reacting to Mohammed’s comments, Ortom asked him to cite the section of the Constitution that empowers the herders to carry AK-47, stressing that he found it shocking that a colleague, who took the oath of office as he also did, to protect and preserve the Constitution of the Federal Republic of Nigeria, took the

lead in violating provisions of the same constitution by calling for lawlessness. Also reacting, the Ondo State governor, Mr. Rotimi Akeredolu criticised Mohammed for defending the use of arms by herders. “The Bauchi governor has by his conducts and attitude, ushered us into the next level on the path to anarchy. He’s not fit for public office; persons of such impecunious disposition and character is not fit for public office,” Akeredolu said, according to the Ondo State Commissioner

for Information and Orientation, Mr. Donald Ojogo. But in a clarification made yesterday, the Bauchi State governor in a statement issued by his Senior Special Assistant on Media and Communication, Comrade Mukhtar Gidado stated that, “to the extent that not every herdsman is a criminal, the reference to AK-47 was simply to put in perspective, the predicament and desperation of those law-abiding Fulani herdsmen who, while carrying out their legitimate cow-rearing business, have become serial victims of cattle

rustling, banditry, kidnapping and assassination”. The governor argued that these are the people who, in the absence of any protection from the security agencies, are forced to resort to self-help, to defend both their means of livelihood and their lives. The statement argued that as a constitutionalist which he has proved over time, all through his political career, Mohammed will be the last person to advocate a subversion of the Constitution of the Federal Republic of Nigeria.

Seeks prosecution of DPO who shot Amotekun operative The O’odua Peoples Congress (OPC) has called on President Muhammadu Buhari to investigate the last Friday clash between Yoruba and Hausa traders in Shasha community in Akinyele Local Government Area of Ibadan, Oyo State. The group in a statement by its Publicity Secretary, Mr. Yinka Oguntimehin, expressed concern that a minor misunderstanding later degenerated into tribal crisis, leading to deaths and destruction of properties in the community. The OPC publicity scribe lamented that such crisis could have been avoided. He said, ” I am using this opportunity to call on President Muhammadu Buhari to investigate the circumstances surrounding the ugly incident, so as to bring the culprits to book and also forestall further

crisis,” he said. Oguntimehin also expressed dismay at the report of a Divisional Police officer in charge of Ile-Igbon Division, Surulere Local Government Area of Ogbomoso in Oyo State, Adepoju Ayodeji, shooting an operative of Amotekun for arresting Fulani herdsmen that allegedly destroyed a cassava farm. “The police officer should be made to face the music for shooting an Amotekun corp. No matter who was involved and the circumstances surrounding the incident, the police boss should be professional enough to know when to pull the trigger. “It is a grave error of judgment for such a senior officer of the police to shoot an Amotekun corp knowing full well that the South west security outfit was backed by the law.

CJN Urges Uniﬁcation of African Judiciary Alex Enumah in Abuja The Chief Justice of Nigeria (CJN), Justice Ibrahim Muhammad has urged for the unification of the African Judiciary if it must compete favourably with its counterpart across the globe. Justice Muhammad who made the call on lawyers in the African continent however admonished them to always show professionalism in the discharge of the legal duties. A statement issued yesterday by the CJN’s media aide, Mr. Ahuraka Isah, said Muhammad gave the charge when he hosted a delegation of the African Bar Association (AFBA) in his office at the Supreme Court, Abuja. While thanking them for the visit the CJN said the association should do everything it can to ensure African lawyers “compete favourably amongst the best of lawyers around the world in content and good character. “This is because African bench can’t be clean if its origin is filthy”. The statement noted that Justice Muhammad described African legal system “like a broken mirror reflecting different directions, especially the directions of various colonial homes of respective countries. Yet, Africans are the only people who in the past resolved disputes and issues through traditional institutions. “The association should work hard for the unification of African

judiciary and mutual legal development”, he said. Earlier, President of the Association, Mr. Hannibal Uwaifo, told the CJN that they were in his office to brief him on the activities of the association, and also invite him to their 2021 Annual conference slated for August this year in Niamey, Niger Republic. Uwaifo, who told the CJN that the visit was on behalf of the chairman of AFBA Governing Council, Mr. Joseph Daudu (SAN), added that it was also part of the association’s continuous consultations with Chief Justices of Supreme Courts across the continent. ‘’The visit is to afford us the opportunity to brief Your Lordship firsthand about our activities, our positive impact in the legal profession and judicial sector across the continent, and also to enable us to make suggestions for post COVID-19 era for the African judiciary’’. Uwaifo noted that the AFBA 2021 Annual Conference which was scheduled to hold from February 28 - March 5, 2021 in Niamey has been postponed to August 2021 because of the COVID-19 Pandemic. The theme for the conference is “Setting an Agenda for transformative change in Africa’’.

GIVING BACK TO SOCIETY...

L-R: Permanent Secretary, Ministry of Mines and Steel Development, Dr. Oluwatoyin Akinlade; recipient of scholarship, Master Oluwafemi Kehinde; and Minister of Mines and Steel Development, Mr. Olamilekan Adegbite; during the presentation of Cheques to students that benefitted from the Segilola Gold Project Scholarship Scheme at the Plant Site in Iperindo, Osun State ... recently

PGF DG Advocates Proactive Responses to Problems of Insecurity Adedayo AkinwaleinAbuja The Director General of Progressive Governors Forum (PGF), Dr. Salihu Lukman, has challenged the All Progressives Congress (APC)led federal government to take more responsibility and develop proactive responses to the problems of insecurity being compounded by ethnic hatred in the country. The director general in a statement issued yesterday titled, “Cries for Justice: Sasha and the Burden of Political Leadership,” said, the reported clash between Hausas and Yoruba traders in Sasha, Ibadan last Thursday should be alarming for every Nigerian. He noted that at a time when

the issue of banditry and criminal conducts of individuals in the guise of herdsmen dominated public discussion in the country, events in Sasha had further inflamed ethnic tension in the country. Lukman lamented that the level of intolerance in the country on account of ethnic background was beyond imagination. He pointed out that before Sasha, there were many reportedly alleged cases of communal violence across the country, adding that till today, there was hardly any reported position or proposal taken by any of the national organisations. The director general said the few cases of deliberations

in the chambers of the National Assembly, for instance, were even more worrisome as members just adopt positions based on ethnic consideration. He stressed that the source of it borders on how issues of justice are compromised. He noted that in the circumstance Nigerians found themselves as a nation, they should begin to campaign that any political leader who overtly or covertly defended criminality must be regarded as either a criminal or one with intention to commit crime too. The APC chieftain wondered why any form of defence of criminality to dominate political debate and

contest in the country should be allowed. Lukman stated: “This is not just a problem of one party. All the parties are guilty. Certainly, because APC is the governing party it has to take more responsibility. We must appeal to our leaders to rise up to the challenge of developing proactive responses to the problems of insecurity being compounded by ethnic hatred in the country. “Our parties must wake up to take all the necessary steps to take decisions, which should guide the response of every leader and member. This is not just a partisan matter.”

Membership Registration will Boost APC Chances 2023, Says Folarin Chairman of the Senate Committee on Local Content, Senator Teslim Kolawole Folarin has said that the ongoing membership revalidation and registration exercise of the All Progressives Congress (APC) is the boost required to strengthen the party and prepare it fully for total victory in the general election of 2023. Speaking shortly after he revalidated his membership of the party at PU 002, Ward 5, Idi Ose, Ona Ara Local Government Area of Oyo State over the weekend Folarin told journalists that the exercise has been very successful, adding that he was impressed with the large turnout of both the old members for revalidation

and new ones, particularly youths and women who now daily throng the polling units across the 351 wards of Oyo State for registration. Folarin stressed that the exercise was well thought out and has achieved a lot in terms of reconciliation, re-engineering and solidifying the party preparatory to 2023 elections. “It has turned out to be the tonic, the boost needed by our party to get stronger, greater, bigger and I am glad about this.” Folarin who emphasised the importance of having a strong, cohesive and vibrant party, said the exercise has increased his confidence in the party that come 2023, all the candidates

of the All Progressives Party (APC) would win their elections with ease. “In Oyo State, APC is obviously the leading party. It is the party to beat. We lost the last gubernatorial election in the state because of the fragmentation in our party. And now with the large number of people enthusiastically joining our party, it is obvious even to the blind that APC is the party to belong to for victory”. Folarin assured that as an experienced politician and a victim of fragmented political party, he would spare no efforts in unifying the party and attract the best of politicians to the APC

He expressed happiness that the party was starting on a fresh note where everybody is equal with equal opportunities and sense of belonging to all promising that he would join the other leaders of the party in ensuring that the idea of winners takes all becomes history in APC. Asked on his gubernatorial ambition in 2013, Senator Folarin said what was paramount to him now was building the party and making sure that Oyo State benefits maximally from all the good programmes of the federal government.

MONDAY FEBRUARY 15, 2021 ˾ T H I S D AY

24 HOURS...

Alleged Rights Abuse: 27 Groups Petition 31 Embassies over Buratai, Others Army denies alleged rape of 53 young girls at Mogadishu Cantonment

Kingsley NwezehinAbuja A coalition of 27 human rights and advocacy groups has petitioned 31 Embassies, including European Union (EU), United Kingdom, and many African countries, urging them to reject the posting of former Chief of Army Staff, Lt General Tukur Buratai (rtd), and others over human rights abuses and extra-judicial killings perpetrated under his leadership as army chief. It also called for sanctions against over 20 other serving and retired

military and police chiefs, including the newly appointed Chief of Army Staff, Major General Ibrahim Attahiru. A separate petition by the International Society for Civil Liberties and the Rule of Law (Intersociety) accused the Nigerian Army of illegal detention and alleged rape of 53 young girls at the Mogadishu Cantonment in Abuja. Backing up the petition with names of the victims abducted from Obigbo, Rivers State, and audio interviews conducted with

the victims, the group said the girls were later moved to the Department of State Security (DSS) where they were allegedly being held incommunicado. But the spokesman of the Nigeria army, Brigadier-General Mohammed Yerima, said the army was not responsible for the detention of the alleged rape victims, referring THISDAY to DSS. In the petition to the embassies

signed by 27 individual/group members of the coalition and titled: ‘Time for Buratai and over 20 others to Face International Justice and Diplomatic Sanctions for Crimes of Genocide, War Crimes and Crimes against Humanity Perpetrated against Thousands of Defenseless Civilians in Nigeria’, the coalition urged the countries petitioned to declare them persona non grata. The signatories to the joint

statement are Emeka Umeagbalasi, board chairman International Society for Civil Liberties and Rule of Law; Prof Anthony Ejiofor, chairman, World Igbo Congress (USA); Prof Uzodimma Nwala, president, Ala-Igbo Development Foundation (ADF), and Prof Justice Chidi, president, Concerned Elites for Better Society Initiative. Others are Prof Justin Akujieze, board chairman, Ekwenche Research Institute (USA); Dr.

Moses Nwaigwe, president, Biafra Genocide Survivors Group (USA); Austin Okeke, global leader, Igbo Board of Deputies (Worldwide); Mercy Alu, executive coordinator (Research), the Int’l Association of African Authors and Scholars (USA); Dr. Onyenkachi Orjiako, representative of Int’l Society for War Against Lawlessness (USA), and Maazi Obi Okoli, coordinator, Congress of Igbo Leaders United Kingdom and Ireland among others.

Dangote Foundation Disburses N3.9bn to Women, Youths in 11 States Aliko Dangote Foundation (ADF) has so far disbursed the sum of N3.924 billion to 392,490 women and youths across Kano, Jigawa, Kogi,Adamawa, Borno, Yobe, Lagos, Niger, Nasarawa, Sokoto and Katsina states as part of its micro-grant programme Additionally, the Foundation has concluded plans to extend the disbursement of the micro-grant programme to Ogun, Osun, Kwara, Edo, Rivers, Anambra, Ebonyi and Bauchi states as part of the next phase of this programme. A breakdown of the disbursement shows that N880 million was distributed to 88,000 women in Kano State; 27,000 women received N270 million in Jagawa State; 22,000 women received N220 million in Kogi State; 31,500 women and youth collected N315 million in Adamawa; and 54,000 Women and youth got N540 million in Borno State. Furthermore, 40,000 women received N400 million in Lagos; 25,000 women received N250 million in Niger; 13,000 received N130 Million in Nassarawa; 23,990 women benefitted from the sum

of N239.9 million in Sokoto; and 34,000 women benefitted from N340 million in Katsina State; and 34,000 women and youth benefitted from N340 million in Yobe State. According to the Foundation, in some States, mobile phones and bank cards to start up or improve their income generating activities were dded to the grants as a delivery mechanism for the funds in partnership with the respective State and Local Governments and mobile money/bank operators. The Managing Director/ Chief Executive Office of ADF, Zouera Youssoufou stated that the Board of the Foundation has already approved the next phase of disbursement of the grants across Ogun, Osun, Kwara, Edo, Rivers, Anambra, Ebonyi and Bauchi states. She described the Aliko Dangote Foundation Micro-grant programme as a N10 billion programme designed to provide a N10,000 one-off grant to at least 1,000 vulnerable women, and in some cases, youths, in each of the 774 LGAs across Nigeria.

COVID-19Vaccines Not Mark of ‘666,’Anglican Primate Assures Nigerians The Primate of Church of Nigeria, Anglican Communion, the Most Rev. Henry Ndukuba, has urged Nigerians, especially Christians to ensure that they were inoculated against the deadly COVID-19 pandemic when general vaccination commences in the country. Ndukuba said this at the February 2021 Standing Committee meeting of the Church of Nigeria, Anglican Communion, which began on February 8 and ended on February 14, with a church service at the All Saints’ Cathedral, Onitsha, Anambra. A full text of the meeting obtained by the News Agency of Nigeria in Abuja yesterday quoted Ndukuba as saying that many Nigerians had become complaisant about COVID-19 because of the unfounded campaign against the vaccines. “COVID-19 is already in our villages and communities; we have lost some members to COVID-19 infections. Many people are very complaisant and careless because they believe it is a rich people’s disease or it is not real.

“COVID-19 is real and it kills. Some people are peddling unfounded campaign against the COVID-19 vaccines; they suggest that anyone receiving the vaccine will receive the anti-Christ number 666. “Let it be clear that COVID-19 is a virus that is ravaging the world and killing people. We give glory to God that we have a higher survival rate in Nigeria,” he said. “This disease is like Polio, Yellow Fever and other virus diseases that we receive vaccines to prevent. Those who are infected are being treated and many recover. `The medical personnel administer drugs to cure them which does not initiate them with the 666. This vaccine is like any other that we receive to prevent diseases caused by virus. “The End Time signs are here but the severe persecutions and tribulations have yet to come fully. We should be careful not to propagate stories that are not true and which can only be destructive to the lives of our people.”

TROUBLED BY THE STATE OF THE NATION…

L-R: Member, Citizens Action for Good Governance (CAGG), Mrs. Safaa Adam; member, CAGG, Mr. Abechi Ella; and National Coordinator, CAGG, Mr. Nazir Galadnchi, during the press conference by CAGG on the state of the nation in Abuja … weekend ENOCK REUBEN

EFCC Arrests 20 Suspected Internet Fraudsters Kingsley Nwezeh in Abuja Operatives of the Port Harcourt Zonal Office of the Economic and Financial Crimes Commision (EFCC) weekend arrested 20 suspected internet fraudsters. A statement issued by the commission said the suspects were arrested at the New Owerri,

Eminike Estate, Norble Abode, Owerri, Imo State. The suspects are: Onyebuchi Victor; Isreal Victor; Emeka Clinton; Stanley Uche; Onyemachi Stanley; Ikechukwu Agbalieze; Franklin Ugoegbu; Nze Collins; Nwokoro Santus and Agocha Johnson Others are Oscar Anumata;

Emeka Clinton Nkeoga; Ogwu Chukwu Akagha Marvis; Victor Obioha; Charles Onymesi; Awunnaya Victor; Henry Stephni; Jerrard Uwaima, Franklin Uzoma and Obidike Abuchi Items recovered from them include 40 mobile phones, 17 laptops of different brands and six vehicles, including one blue-coloured

Toyota Corolla car; one black Acura ZX car; one ash-coloured Lexus GX 460 Sports Utility Vehicle, one green- coloured Venza car, one black Mercedes Benz car and one ash-coloured Lexus 330 SUV. Others are 13 Powers of Attorney, five architectural documents and a folder containing some other documents.

Jakande Expressed Worry over State of the Nation Before He Died, Says Nwobodo Adedayo Akinwale in Abuja Former Governor of the old Anambra State, Senator Jim Nwobodo, has revealed that former Governor of Lagos State, late Alhaji Lateef Jakande, expressed worry over the state of Nigeria before he died. Jakande died last Thursday at the age of 91 and was buried

according to Muslim rites last Friday. But Nwobodo, while speaking with journalists at the weekend, expressed shock over his demise. According to him, “I was shocked that he (Jakande) died. The last time we saw was at a party hosted by the Lagos State governor. It was a Christmas party, and it was in commemoration of

Asiwaju Bola Tinubu’s birthday. We met and embraced. “But even before then, I had visited him with the secretary of the Former Nigerian Governors’ Forum (NGF) and we talked about a lot of things, and he felt that things were not as good as they used to be.” Speaking on the personality of Jakande, Nwobodo said he

was called Baba Kekere because he was seen as a man groomed by late Chief Obafemi Awolowo, and because of his intelligence, wisdom, and attitude. On what Jakande would be remembered for, the former old Anambra State governor said many Lagosians and Nigerians would not forget him for transforming Lagos in terms

Group Backs Buhari’s Nomination of Ex-service Chiefs as Non-career Ambassadors Sunday Okobi A non-political, pro-democracy platform, African Centre for Leadership and Good Governance (ACLG) has expressed its support for the nomination of the immediatepast military Service Chiefs as noncareer ambassadors by President Muhammadu Buhari, stating that the action of the president was in

order. The group noted further that the president exercised his presidential prerogative, and has not breached the law or the Constitution of the Federal Republic of Nigeria. In a statement signed and made available to THISDAY yesterday in Lagos by the ACLG Executive Director, Dr. Chindo Nkweke, and Executive Research Assistant,

Hassan Bature Muhammed, the group insisted that the National Assembly is under obligation to consider the nominations on the basis of merit, qualification and capacities, and “that the onus now falls on the Senate to use its screening and approval processes in tandem with the law of the country, to favour these men of tested loyalty and professionalism.”

The statement said the nominations are a reward for hard work and exceptional sacrifices and a service to the Nigeria, adding: “The past service chiefs are really worthy ambassadors, who deserve to be honored with the service of further pushing the country forward in foreign relations and international diplomacy.

MONDAY, FEBRUARY 15, 2021 ˾ T H I S D AY

NEWSXTRA

Osinbajo, Akeredolu, Makinde Harp on Peaceful Coexistence Tambuwal, Matawalle seek leaders’ collaboration to tackle insecurity Ejiofor Alike in Lagos and Omon-Julius Onabu in Asaba Sokoto State Governor, Hon. Aminu Tambuwal and his Zamfara State counterpart, Alhaji Bello Matawalle, yesterday called for concerted efforts to check the nation’s worsening insecurity. Their counterparts in Oyo and Ondo States, Seyi Makinde and Mr. Oluwarotimi Akeredolu respectively, also appealed for calm and peaceful coexistence between the Hausa community and their Yoruba hosts. Vice President Yemi Osinbajo has also condemned the violence that led to the loss of lives at the Shasha Market and called for peace between the warring traders. Tambuwal and Matawalle spoke at Boji-Boji Owa, Ika North East Local Government Area of Delta State, shortly after paying a condolence visit to Governor Ifeanyi Okowa of Delta State on the demise of his father, late Pa Arthur Okorie Okowa. Tambuwal, who is Chairman of the Peoples Democratic Party (PDP) Governors’ Forum, stressed the need for all leaders to come together and work hard to save the situation.

He said: “Without security, there cannot be any development and there cannot be peace and you need peace and security to govern and you also need peace and security for you to carry out business transactions and even worship so its key and very fundamental for development in any society. “So, my charge is that all of us as leaders must come together irrespective of whatever views we may have in terms of approach to how the insecurity should be resolved. “We should all be seen to be working together in coming up with a synergy and a template for resolving all of these conflicts.” Speaking on the new service chiefs, Tambuwal said they should be given a chance to show their capacity to resolve the lingering insecurity in the country. According to him, they have just resumed and should be given a chance to work. “They know the issues and they know why all of us and many Nigerians came out to say that the other service chiefs should give way for new hands to come in and they should listen to the people

and do what is required of them by securing Nigerians,” Tambuwal added. He commiserated with Okowa on the death of his father, saying the late Sir Arthur lived an impactful life and would be long remembered for raising children that made great impacts in the society. He said the deceased was an inspiration to his family members and a great patriarch and torchbearer. On his part, Matawalle said his state had been the epicentre of banditry in Northern Nigeria. He said his administration had recorded many successes using the kinetic and nonkinetic approach. “As a person, I couldn’t just fold my hands and watch my people being killed. We have been fighting that battle using two approaches, the kinetic and non-kinetic and we have recorded some successes. “We are all together, we are the same as one and we have been preaching peace because we want Nigeria to remain one. “The security of the nation is not just for us as government but for all of us and we have lots of roles we can play as

individuals so that we can be at peace as a nation,” Matawalle said. Responding, Okowa thanked his Sokoto State and Zamfara counterparts for their visit. He said his late father inspired him a lot in his political career. “My dear brothers, I must truly thank both of you for coming because I know how far Sokoto and Zamfara is to Delta. “I also know that you have security issues in both states but despite that you still found time to come and condole with me on the death of my father. “Despite the age he passed on, it is still a lot of pain to us. “In the last two weeks, we have received a lot of condolence messages and visits and my siblings and I are truly grateful. “We missed him a lot but we are further consoled by the love from Nigerians. “I know what insecurity is to any governor and I pray that God will enable us to handle the various challenges we have in our various states,” Okowa stated. On his part, Osinbajo has condemned the violence that led to the loss of lives at the Shasha Market and called for

peace between the warring traders. Osinbajo, while addressing journalists after he paid a condolence visit to the family of the late former Governor of Lagos State, Alhaji Lateef Jakande, described the incident as unfortunate and tragic. He said the market had been a melting pot for traders bringing foodstuff from the North to the South-west for decades and they had lived in peace and even inter-married. According to him, when a disagreement arises between individuals or a criminal act is committed by one against the other, Nigerians must ensure that they see it for what it is, (a criminal act) which must be punished according to law and not as an ethnic conflict. He stated that every Nigerian has a constitutional right to live, work and enjoy their lives in safety, peace under the law. He, therefore, called on the police and other law enforcement agencies to arrest and prosecute any person who commits a crime against a citizen. Meanwhile, Oyo State Governor, Seyi Makinde and his Ondo State counterpart, Rotimi Akeredolu, yesterday

visited the troubled Shasa community in Ibadan, Oyo State, where traders clashed at the weekend, prompting the imposition of a curfew on the area. They appealed for calm and peaceful coexistence between the Hausa community and their Yoruba hosts. In a statement yesterday by the Chief Press Secretary to Oyo State governor, Mr. Taiwo Adisa, the two governors who spoke at the Shasa market and the palace of the Baale Shasa, urged the residents of the community and Oyo State, particularly the Yoruba and Hausa, to stop taking the law into their hands. Makinde promised to give palliatives to those whose wares were affected during the crisis, adding that the two factions have to eschew violence and allow peace to reign. He said: “Please, I want you to listen to me clearly. You cannot resort to self-help to solve the issue on ground. All of you who are here are doing business with one another in one way or the other. “The last time I came here, about six weeks ago, some shops belonging to Hausa and Yoruba people got burnt.

FOREIGN DIRECT INVESTMENT AS LOCAL INDIRECT DIVESTMENT occasioned by the Covid-19 Pandemic. Again, the phenomenon of foreign remittances is not our major concern today. Foreign (investment) Capital, just like its local counterpart, seeks out markets that are conducive to it. It does not go where it is not welcomed. It feels welcome, not when seekers mouth platitudes and hyperbolic statements about how open they are for business. They do not respond when leaders take flights to organise dress rehearsals and beauty parades or road shows, making promises that are sometimes far from reality. In fact, foreign capital tends to have more up-to-date information about local markets than the local market players themselves. It has a way of hearing what local markets are not saying instead of listening to what they are saying. The interesting thing is that it is also good in leading the markets to believe what they want to believe and will only realise that they were not convincing only when it would have been too late to do anything about it. While we are not despising road shows and marketing, our argument is that foreign capital has one major purpose: profit. Once it feels that the purpose would not be safely realised, it will take flight. Ever wondered why some countries would be at war and major oil companies would still make their way into the oil fields to drill oil despite the war? The answer is that investors are known to be rational and would only invest in a market that guarantees maximum returns on investment. That is the number one rule in investment. The so-called benefits wittingly or unwittingly, occur along with the investment. It is like saying that associated gas is a benefit that comes with oil production. That statement could be true if the country knows how to and has capacity to utilise associated gas. Where neither the knowledge nor capacity exist, the gas could either be flared or reinjected. In like manner, where technology is required for production and somehow, the economy is able to copy or steal it, such benefit is described as “transfer of technology”. While this column does not argue that foreign investment should be ignored or

discouraged, it is our considered opinion that the promotion of foreign investment should not take such priority that local investment would be relegated to the background, as a result. In fact, we dare say that there is no evidence that any country has genuinely developed primarily on the back of FDI. This is because of the interest of foreign capital which would hardly be in tandem with local interests. The job of developing local economies should firmly, be the responsibility of local investors. The search for foreign capital is only useful to the extent that consumption has been patterned to be import oriented. An export-oriented market would be exchanging local products with foreign currency and therefore would not necessarily be dependent on foreign capital to survive. Therefore, the first impetus to local investment is that the economy encourages local consumption and discourages foreign consumption. How to achieve this should not be by legislation or fiat, but by the effective use of the market forces and moral suasion to move economic agents to the desired objectives. Experience has shown that economic agents are almost always resistant to force but respond rationally to market forces. Governments must also lead the way by investing appropriately in the economy. Government’s investment should not be in business but in its enablers. Government should concentrate on those factors that support and boost business. One of the major enablers of business is education. Education is important to expose the majority of the populace to rational and critical thinking. It also helps in building skills. A situation where a majority of the populace is either poorly educated or not educated at all, makes it difficult for them to understand arguments like the ones we are making now, talk-less of implementing them. So, we need to hit the reset button on education from primary to tertiary level, rejig the curricula to be in tandem with modernity, ensure adequate provision of teaching skills and facilities and retain excellence in our educational institutions. And I dare challenge us that this is not rocket science. We have the required skills

and financial resources to do it, if we agree that it is a priority. Another area of investment that is as important as education is infrastructure. Clearly, this cannot be overemphasised. A major reason why things do not seem to work in Nigeria is our criminal neglect of infrastructure over the years. We seem to have adopted a culture of refusing to maintain anything. Our penchant for awarding contracts has been elevated to such a level that our roads would start with potholes and graduate to craters and we would all ignore them waiting for a time to award contracts for the rehabilitation and resurfacing of the roads where large amount of money would be disbursed to ensure that pockets of corrupt officials are lined while the rest of the populace would be left to pay the price. Failed, failing or outright lack of infrastructure is a disincentive to investment, be they local or foreign. Access is one of the major challenges of both agriculture and industry. Aside the risk that it poses to economic agents, there is the additional challenge of increasing the production cost which makes output uncompetitive. Infrastructural deficit is largely responsible for a situation where the cost of a product imported from China comes out cheaper than a similar product made in Nigeria. The outcome is that our product, which by the way, may be of inferior quality than the one made in China, may be produced at a much higher cost, and in a perfect market, would stand no chance of competing with its counterparts from other economies. When we factor in the cost of inefficient power supply, water supply and insecurity, what we would have is a net divestment from the economy. The Coronavirus Pandemic has further exposed the very poor state of Nigeria’s healthcare delivery system. Public health, which is so important and has been taken for granted elsewhere, remains a major challenge in Nigeria. There is no doubt that this is a major disincentive to investment. We had dwelt on this in a previous column and will not want to go back to it, except to highlight that despite our outcry, not

much seems to have been done about it and there is nothing to show that governments at both the Centre and states, see this as a priority even as more deaths are being recorded daily. The reason why we spent some time on the disincentives to investments or better still, incentives to divestment is that the economy will only do well on the alter of the gross capital formation of the country. Our economy which still prides itself as the largest in Africa with the largest population cannot be said to be growing. In normal times, before recession, while the economy was growing at less than 2% per annum, the population was growing at over 3% per annum. That means that in economic terms, we have been declining. The only way for the economy to grow is that more investments must be made by the economic agents. This investment, we advocate should be local. And there are a lot of areas where investments can be made locally to add value to the economy. Agriculture remains an area with very limited barriers to entry and requiring modest initial capital for simple crops. Other areas like livestock, haulage and logistics, fashion, media, real estate, trading, and financial services are a few of the areas that are seeking for investments. By investing in these areas, we could double our GDP in a few years, we could create 30% more jobs within a period of 2 to 3 years, we could reduce poverty level by 25% in 3 years, we could reduce insecurity drastically and we could begin to see growth in an otherwise recessed economy. If we do not focus on ramping up productivity and having more people participate in economic activities, the recovery of the economy could be a bit longer and more torturous. Our conclusion is that we need not keep distracting ourselves looking up to ‘foreign investors’ to grow our economy. The answer lies within, and we must endeavour to seek out those local diamonds in the rough that need polishing. We must use them to regenerate this economy and solve our economic and social problems. We must learn to chop our own wood, and as Henry Ford advised, it will warm us twice.

MONDAY FEBRUARY 15, 2021 • T H I S D AY

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MONDAYSPORTS

Group Sports Editor Duro Ikhazuagbe Email duro.ikhazuagbe@thisdaylive.com 0811 181 3083 SMS ONLY

C A F C O N F E D E R AT I O N C U P

Enyimba Gain Slim Advantage over Rivers Utd in Aba slim advantage over Rivers United in the first leg of A 59th minute lone strike their CAF Confederation by Cyril Olisema made Cup playoff match in Aba the difference as hosts yesterday evening. The clash between two Enyimba FC gained a Duro Ikhazuagbe

of Nigeria’s arguably best teams of the moment was disrupted with only 10 minutes played by a heavy down pour. Algerian centre referee Mehdi Abid Chidef who had earlier called off the game recalled both teams

to continue play after assessing the state of the Aba Stadium turf. Enyimba were reduced to 10 men in the 75th minute, when striker Tosin Omoyele was sent off. The home team dominated the tie, but could

not make their dominance to count with more goals. The visitors chased the game in the closing moments. The loss in Aba has denied Rivers United a N20 million bonus promised the team by The state’s chief executive.

The reverse fixture next week in Port Harcourt promises to be a winner takes all. The overall winners of this matchup will advance to the moneyspinning stage of the Confederation Cup.

Tosin Omoyele saw red yesterday as Enyimba gained slim advantage over Rivers United in Aba

UFC 258: ‘Nigerian Nightmare’ Usman Beats Burns to Retain Title Undisputed welterweight champion Kamaru Usman cemented his position at the top of the 170-pound division by beating top contender Gilbert Burns at UFC 258. Auchi, Edo State-born Usman, 33, was stunned early by the Brazilian, his former training partner. But the Nigerian recovered superbly to turn the tables on his heavy-handed opponent, 34, and claim a third-round TKO finish at UFC Apex in Las Vegas. He has won all 13 of his UFC fights and surpassed Georges St-Pierre for the longest winning streak at welterweight. The two rivals were formerly team-mates at Florida gym Sanford MMA before Usman left to join Elevation Fight Team in Colorado. After the result was announced the pair shared an embrace in the middle of the octagon, with Burns in tears and Usman appearing to fight off emotions of his own. “This one was a tough one. It was a very, very tough one, because of the whole gym situation (and) me leaving,” Usman said after his third straight UFC title defence. “But I’ve said it, man, I’m the varsity guy. My fight IQ is different. It’s different when you’re in the gym with me. But when you get in here, it’s different ball game. From start to finish, I’m a whole other savage, and he saw that

tonight. “So, from start to finish there was no friends in there, no friends at all. I had to go in there and do what I had to do, and that’s go in and win this title. I am the best on the planet for a reason (and) I’m here to stay.” Usman’s victory ended Burns’ six-fight winning streak, extended his own winning run to 17 consecutive fights and improved his mixed martial arts career record to 18 wins and one loss. After the fight he called for a rematch with Jorge Masvidal, who he beat at UFC 251, adding: “He keeps running his mouth. If he’s going to talk, step in here and see me,” Usman warned. The action started quickly as Burns pushed the pace and rocked Usman with a big right hand that connected just behind the champion’s left ear. Burns continued to push forward in search of a first-round finish but Usman recovered superbly and started to establish the weapon that would eventually win him the fight - his jab. That jab proved decisive at the start of round three when Usman decked Burns with his first punch of the round then followed up with a succession of wellplaced ground strikes to force referee Herb Dean to step in and wave off the contest just 34 seconds into the round.

Osimhen Meets Ronaldo Victor Osimhen caught up with Cristiano Ronaldo after Napoli’s 1-0 win against Juventus at the Diego Armando Marodona on Saturday night. Osimhen was replaced in the 75th minute of this encounter at Stadio Diego Armando Maradona, while Ronaldo played the entire game.

Osimhen took the chance to pose for a photo and exchanged jerseys with the Juventus star. Saturday’s crucial win has lifted Napoli to fourth place on 40 points from 21 games, a point behind Juventus. AC Milan are top of the standings with 49 points.

Kamaru Usman (centre) successfully defended his UFC 258 Welterweight title against Brazilian Gilbert Burns early hours of Sunday

Kwara Utd Sneak to the Summit of NPFL In the absence of Enyimba and Rivers United who were involved in continental duties yesterday, Kwara United sneaked to the summit of the Nigeria Professional Footbal League with 3-0 thrashing of Dakkada FC at the Ilorin Township Stadium on Sunday. The Ilorin team have Wasiu Alalade, Michael Ohanu and Alao Danbani to thank for the three unreplied goals as the Afonja Warriors

begin to rub shoulders with the country’s big teams at the top on 21 points from 10 matches. Elsewhere at the Pantami Stadium in Gombe, Adamawa United and FC IfeanyiUbah battled to a 1-1 draw to share points at stake. Idris Abubakar scored the curtain raiser for Adamawa United, while Christian Molokwu equalised for the visitors from the spot 11 minutes from time.

In Kaduna, Umar Hassan scored a late winner as Kano Pillars defeated MFM FC 1-0. Hassan scored the winning goal for the Sai Masu Gilda in the 90 minute. In Lafia, Akwa United also conceded a late goal as they went down to a 2-1 defeat against Nasarawa United. Adamu Hassan put Nasarawa United ahead in the 56th minute, while Ndifreke Effiong restored parity for the visitors seven minutes later.

Ebuka Anaekwe netted the winning goal for the hosts three minutes into stoppage time. Katsina United defeated Jigawa Golden Stars 1-0 courtesy of 40th minute strike. MATCH DAY 10 Nasarawa 2-1 Akwa Utd Katsina Utd 1-0 Jigawa GS Adamawa 1-1 Ifeanyiubah Kano Pillars 1-0 MFM Wikki 0-0 Sunshine Kwara Utd 3-0 Dakkada

Aubameyang Ends Arsenal’s Woes with Hat trick Against Leeds Pierre-Emerick Aubameyang scored a superb hat trick as Arsenal ended their three-game winless run with victory over Leeds United at Emirates Stadium. Aubameyang opened the scoring in the 14th minute before doubling his side’s advantage from the spot towards the end of the first half. Right-back Hector Bellerin grabbed a third on the stroke of halftime, with Aubameyang completing his hat-trick with a header moments after the restart. But from 4-0 down Leeds grabbed two second-half goals through Pascal Struijk and substitute Helder Costa to give Arsenal a late scare. Making his first start in

almost a month, Arsenal skipper Aubameyang proved just how valuable he is to the north London club. Since he was last named in a starting XI, the Gunners had gone out of the FA Cup and taken four points from four games in the league. Right from the off he looked lively, cutting in from the left and finding the bottom corner with a cultured finish in the opening quarter. And he was denied a second moments later when Leeds defender Luke Ayling superbly blocked his shot after good work from David Luiz. VAR intervention led to referee Stuart Atwell overturning an Arsenal penalty after Bukayo Saka was brought down

by Liam Cooper in the 35th minute. But the 19-year-old won another spot-kick minutes later, being tripped by Leeds keeper Illan Meslier after the stopper was unable to clear a routine

backpass. Aubameyang made no mistake from 12 yards sending Meslier the wrong way - before Bellerin caught out the Frenchman at his near post to net Arsenal’s third.

Pierre Emerick-Aubameyang celebrating his hat trick in Arsenal’s 4-2 defeat of Leeds United...yesterday evening

˜ ͹ͽ˜ ͺ͸ͺ͹ ˾ T H I S D AY

MONDAYSPORTS

THE ENEMY WITHIN

he news was received with mixed reactions. The Nigeria Football Federation President, Amaju Melvin Pinnick, had been cleared by FIFA’s Review Committee to contest for a seat in the Council of the world football governing body at the 43rd Ordinary General Assembly of CAF slated for March 12, in Rabat, Morocco. While a seat in the exalted chamber of football’s world governing 37-member council is not new to Nigeria, it has been extremely rare as only two Nigerians had ever been involved in this exclusive club. the Late Etubom Oyo Orok Oyo and more recently, Dr. Amos Adamu have taken their turns in that hallowed highest decision making body in global football. However it has not been smooth sailing for Mr Pinnick. The ambitious former Delta State Sports Commission Chairman has had to battle furiously at home. After a hard battle to legitimate his elections as the President of Nigeria’s Football body against the court challenges of Mr. Chris Giwa, he had to tackle the seemingly present allegations of corruption and investigations by the EFCC. The NFF boss also fought interference from

the former Minister of Sports, Solomon Dalung and overcame a brewing internal revolt to secure re-election for a second term as President of Nigeria’s football body. Vying for a seat in the FIFA Council should be something that should be celebrated by all. Like him or not, Pinnick is Nigerian and will always work in Nigeria’s interest. He has shown this in his short time as CAF vice-president. Committee appointments and access to grants and opportunities were some of the benefits Nigeria and Nigerians benefitted from. A representative in FIFA is a much bigger stake with more influence and pride for the nation but not everyone feels this way. It was learnt that a Nigerian, in his bid to scuttle the plan, wrote to the Investigatory Chamber of the FIFA Ethics Committees to disqualify the NFF boss. Mr Harrison Jalla, a former president of the National Association of Nigerian Footballers (NANF) wrote a petition tagged: Amaju Pinnick lacks integrity, not a fit and proper person for the exalted position of FIFA Council member. According to a national daily newspaper, among other things, Jalla alleged in his letter that FIFA couldn’t feign ignorance of several allegations of fraud

against Pinnick. Jalla who had on various occasions had court dealings against the NFF also had been a critic of the Pinnick-led board accusing them of financial recklessness. However, FIFA did not believe he had sufficient standing in the potential case, and replied to his petition. In its letter, FIFA wrote: “We acknowledge receipt of your correspondence and have taken note of the information provided. We wish to express our appreciation for having filed a complaint in the context of art.58 par.1 of the

Amaju Melvin Pinnick... gunning for FIFA Council Seat

FIFA Code of Ethics (FCE). It is noted that FIFA bears a special responsibility to safe guard the integrity and reputation of football worldwide and your complaint shows your commitment with our values and principles.” FIFA continued: “Notwithstanding the above, even though you are entitled to file such a complaint in the context of a conduct considered incompatible with the FCE, it does not follow

that you become a party to the proceedings which may result from this claim, as only accused subjects are conceived as such parties (see art.37 of the FCE).” The national newspaper that published part of the letter quoted FIFA saying, “In sum, and based on your complaint and your initial lack of standing in the potential case, FIFA is not obliged to start ethical proceedings. Further, we need also to clarify that we will not be in a position to provide you with information with regard to your inquiries or regarding the state of the proceedings before the FIFA Ethics Committee (if any). “However, in the event that we would require any further information, or documents from your part, we will contact you in due course. Also for the sake of clarity, please note that the Chairperson of the Investigatory Chamber may initiate preliminary investigations at her own discretion and at any time. Finally, and after a careful analysis of a complaint, should the allegation reported here is considered to be an internal matter or, in case it does not fall within the jurisdiction of the FIFA Ethics Committee, the claim may be closed or transmitted to the relevant Member Association or

Confederation,” Interestingly, THISDAY newspapers had reported that Pinnick was one of the 17 football personalities from the African continent that were cleared by FIFA’s Review Committee headed by Mukul Mudgal. “It was the third time that the former Delta State Sports Commission Chairman will be passing the rigorous FIFA integrity test where several aspiring technocrats have been sent packing,” THISDAY reported. Pinnick first passed the integrity test when appointed into the Organizing Committee for FIFA Competitions. The second time was when seeking election into the CAF Executive Committee where he rose to the position of first Vice President and finally now, the clearance given to him penultimate week to seek for the FIFA Council seat. All these are coming after rigorous eligibility checks and thorough scrutiny of the social, moral and political credentials, as well as public service records. This is collaborated by

the Chairman of Sportsville Awards, Frank Ilaboya. While presenting a recognition award of excellence to Pinnick, he said: “Sportsville Communications is not unaware of the boundless energy and the unflagging enthusiasm with which Mr Pinnick has been pursuing the issue of uplifting Nigerian Football to a higher pedestal on the field and in the boardroom, since he was first elected as President of NFF in September 2014. He scores high in aggressive marketing and is matchless in seeking high visibility for Nigeria in football’s high table,” It is a general consensus however that Pinnick should be supported. Whatever grievances anyone has should be shelfed for now and all should publicly support his candidature. He is Nigeria’s representative. So for now, there should be no enemy within.

* Eneﬁok is an author, Speaker, administrator, Life coach, businessman and Nigeria’s ONLY Male two Time Olympic Medalist

PREMIER LEAGUE

Man Utd Held at West Brom to Dim Title Hopes Bruno Fernandes’ stunning volley salvaged a point for Manchester United at struggling West Brom, but Ole Gunnar Solskjaer’s side lost further ground in the Premier League title race. United moved back above Leicester in second place, but are now seven points behind leaders Manchester City, who also have a game in hand. The Baggies took a shock lead after just 83 seconds as on-loan striker Mbaye Diagne outmuscled Victor Lindelof to head in from Conor Gallagher’s cross. United where finding it difficult to make inroads in a lacklustre opening period until

Fernandes hooked Luke Shaw’s cross into the top corner with his weaker left foot. The visitors improved in the second half, Mason Greenwood testing Sam Johnstone with a low strike and Scott McTominay seeing his follow up cleared off the line. With time running out, skipper Harry Maguire leapt to send his header towards the top corner, but Johnstone tipped the effort against the post to deny United an injurytime winner. Sam Allardyce’s side could have won it themselves late on, but Diagne struck his effort over the crossbar from six yards out.

Though they claimed a draw, West Brom remain in deep trouble at the wrong end of the table, second from bottom and 12 points from safety. Earlier in the Valentine’s Day fixtures, Manager Ralph Hasenhuttl said video refereeing was “destroying the game” as he reacted to a controversial penalty decision during Southampton’s 1-2 defeat by Wolves. Danny Ings scored in the 25th minute to give Saints a 1-0 lead, and Hasenhuttl’s men comfortably held the advantage until Wolves were awarded a second-half penalty when Ryan Bertrand blocked

Chepkoech Breaks World 5km Record in Monaco Beatrice Chepkoech broke Hassan’s 14:44 record for the Monaco coastline but the world 5km record at the Monaco Run on Sunday, clocking 14:43. The performance by the 29-year-old Kenyan bettered the previous record in a mixed gender race of 14:48 set by Caroline Kipkirui in 2018, and is also one second faster than Sifan

a women’s-only race, until this morning the fastest time ever produced over the distance since the 5km was introduced as a world record event in November 2017. Chepkoech battled strong winds during the early stages of the race along

Chepkoech breaks 5 km record in Monaco

fought on over the latter stages to claim a second world record, this one joining her 8:44.32 record in the 3000m steeplechase set in 2018, also in Monaco. “I’m so happy because I didn’t expect it,” said Chepkoech, the 2019 world champion in the steeplechase. “It was cold and there was a lot of wind, but I tried to follow my pacemaker and everything was perfect.” As she approached the tunnel portion of the course a second time, Chepkoech said that the winds had died down so she decided to push the pace. “My pacemaker told me ‘we can do it, let’s push it’. So I did it.” Joshua Cheptegei of Uganda, who set the men’s world record of 12:51 at this race last year, successfully defended his title, clocking 13:14

Nelson Semedo’s attempted cross with his arm. The point of contention was

whether the left-back’s arm was in an unnatural position. The VAR team, led by official MartinAtkinson,

saw no need for the on-field referee to reconsider his initial decision to award the kick.

Manchester United’s Bruno Fernandes (second left) scored the equalizing goal for the Red Devils at West Brom...yesterday

AUSTRALIAN OPEN

Defending Champion Djokovic Through to Q’finals Serena, Osaka also to the Last eight Defending champion Novak Djokovic came through a stiff test of his fitness as he moved into the Australian Open quarter-finals, but third seed Dominic Thiem was stunned by Grigor Dimitrov. Bulgarian Dimitrov, a semifinalist in 2017, dismantled the US Open champion of Austria 6-4 6-4 6-0. World number one Djokovic, struggling with an abdominal injury picked up on Friday, beat Milos Raonic in four sets. The Serbian eight-time Australian Open champion won 7-6 (7-4) 4-6 6-1 6-4. “In any other tournament than a Grand Slam I would have retired from the event, but because it’s a Grand Slam I wanted to give my best,” Djokovic, 33, said.

“I didn’t know if I was going to play or not. During the match it (the injury) was on and off, it’s still not ideal but I can’t complain and won against a great player. Hopefully it will be even better in two days. “There was no preparation for this match, I used every single hour I had to recover and put myself in a position where I could compete. My physio has done a great job and I want to thank my team and the ATP physios for being here for me. “I’ve definitely been fitter but I’m taking each day at a time and for me training is just recovery.” He will play sixth seed Alexander Zverev after the German beat Djokovic’s compatriot Dusan Lajovic 6-4 7-6 (7-5) 6-3.

In the women’s singles, Naomi Osaka saved two match points and Serena Williams was taken to three sets as two of the favourites reached the Australian Open quarter-finals. Having lost the opening set to Garbine Muguruza, Japan’s Osaka was a break down in the second and faced two match points at 5-3 in the third. But she won four games in a row to win 4-6 6-4 7-5 against the Spaniard, who is also a former world number one. Williams then came through 6-4 2-6 6-4 against Belarusian Aryna Sabalenka. Williams will face second seed Simona Halep, who recovered to beat 19-year-old French Open champion Iga Swiatek 3-6 6-1 6-4.

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MISSILE

CDHR to FG “Buhari being an owner of herds of cattle himself, obviously cannot rise above his entanglement in conﬂict of interest in the herdsmen/farmers faceoﬀ” – Committee for the Defence of Human Rights accusing the President Buhari-led government of failing to address the killings in the country.

ALEXOTTI OUTSIDE THE BOX

alex.otti@thisdaylive.com

Foreign Direct Investment as Local Indirect Divestment “On the whole, China depends more on domestic investment and consumption than on exports to generate its growth.” –Cambridge Dictionary

he word Foreign Investment has dominated the economic space dialogue for a long time. It has been packaged in such a way that many people believe that without it, a developing country like Nigeria stands little chance of becoming a first world economy. The two major types of foreign investment are Foreign Direct Investment (FDI) and Foreign Portfolio Investment (FPI). The former refers to foreign capital that is remitted from one country to the beneficiary country usually to set up businesses in the local economy. The foreign capital, therefore, must be invested either in an existing business or in a new one (green field). On the other hand, Foreign Portfolio Investment refers to foreign funds remitted solely for the purpose of acquiring stocks and government bonds. This kind of foreign capital is also referred to as “hot money”. The reason for referring to it as hot money is that Foreign Portfolio Investment has a pattern of behaviour. It votes with its feet at the slightest provocation. If it senses that some unfavourable conditions are going to occur, before you say Jack Robinson, the funds would have left the country.

Finance Minister, Zainab Ahmed Recently, we have had a preponderance of this kind of money dominating foreign currency inflows in Nigeria. Because of its volatility, it is very difficult for a country to plan on the back of foreign portfolio investment. Recent reports have decried the drastic drop in foreign direct investment flows into the country. The decline had started much

earlier before the pandemic worsened the situation last year. With specific reference to the numbers, net FDI into Nigeria dropped from $4.45b in 2016 to $3.50b in 2017. It further went down to $2.0b in 2018 and then rose to $3.3b in 2019, before dipping again to $2.6b in 2020. With all the talk, and even though FDI has witnessed a declining trend, it is doubtful that it has in recent times, been a significant contributor to investment in the Nigerian economy. In relation to GDP, for the year 2020, Nigeria’s FDI to GDP ratio was 0.6%. This shows the insignificance of this category of investment to the economy. Hardly would you see in the literature any negative comment about FDI. In fact, the narrative has been that the country and in fact states must prepare themselves as beautiful brides for FDI. In fact, some Governors have wasted a lot of taxpayers’ money traveling from one country to another, ostensibly in search of FDI. The result, or more appropriately futility, of such trips, is all captured in the numbers posted above. But then, states should pay attention to those factors like, ease of doing business, corruption perception indices, and global competitiveness indices; if they are to attract significant foreign capital. May I add quickly that one should not get me wrong, because all those indices are necessary for any country including Nigeria, to attract, not just foreign investment, but

for local competitiveness also. In the whole narrative, scant attention is paid to some of the challenges with FDI. All we are made to understand are such well-worn arguments like: FDI helps in the transfer of technology, it creates jobs, it helps to maintain a healthy balance of payments for a country and that it encourages competition. While all these arguments may not necessarily be untrue, not a whole lot is said about the big risks associated with potential net capital outflows from host country, stifling competition given the strength of foreign capital, disruption in the healthy development of research and development in the country, culture and sometimes the interference in the political process of the recipient country. Many people tend to confuse foreign investments with foreign remittances. The difference is that while foreign investment could form part of foreign remittances if the investment is in cash, foreign remittances are not necessarily foreign investment. A lion share of foreign remittances is meant for consumption and other expenses which are not investments. For instance, many Nigerian families are dependent on relatives who send money from outside the country, periodically for their upkeep. Much of the frenzy about declining foreign capital has to do with the sharp drop in foreign remittances Continued on page 52

IBIKUNLEAMOSUN GUEST COLUMNIST

Remembering Baba Kekere (1929- 2021)

ast Thursday, 11 February 2021, the world bade farewell to a legendary politico, unmatched welfarist, a model of integrity in public service and kind-hearted inspirational Elder, Father and Mentor for all times, Alhaji Lateef Kayode Jakande. He died at the ripe old age of 91. Alhamdulillah. There can be hardly any important aspect of the life, work, and times of Baba Kekere that have remained undocumented. As a legendary newspaperman himself, LKJ was well reported. His soar away accomplishments in journalism, public service, and politics have been well captured by the chroniclers of Nigeria’s contemporary political-historical development. I do not pretend to know Baba Jakande better than any of these documentary sources. I write this tribute from the personal perspective of what I remember our hero and mentor, LKJ, for. I confess that Baba Jakande was like a father to me and I am a great admirer of Baba. The history of his show of love and affection to me and my family dates back to 1976 when he practically adopted my elder brother into the political fold - Committee of Friends, preparatory to the formation of the Unity

Party of Nigeria (UPN). This culminated in my brother’s appointment in 1978, as Principal Organizing Secretary of UPN, Lagos State. The relationship had since continued to grow, and I recall that Baba Jakande attended my wedding ceremony in 1991, and several other family functions, crowning it with my daughter’s wedding in 2017, even when it was clearly inconvenient for him due to his old age. He was an unofficial advisor and strong pillar of our administration during my stint as Governor of Ogun State (2011-2019). I remember his visits to Abeokuta and though physically frail, we had a very engaging discourse on several subjects that touched on delivering greater democracy dividends for our people. Baba’s lifelong passion was to see the lots of Nigerian people improve. I continue to be awed by his unprecedented legacies of simplicity, humility, unblemished service, selflessness, devotion to public good, spartan discipline, purity of leadership, lifelong loyalty and commitment to his progressive tendencies and political family, personal family life, and incredible foresight. I also remember Baba as a foremost Nigerian political leader who demystified the odious privilege

politics. He also rode his personal car till he breathed his last. What an inspiration and huge moral challenge to my generation and many more! As expected, his remains have since been committed to Mother Earth in accordance with Islamic injunctions. May the Almighty Allah, swt, forgive his sins and reward him with Aljannah Firdous. My condolences to Mama, Alhaja Abimbola Jakande, the children, grandchildren, and all loved ones left behind. Though Baba LKJ is no longer with us, we shall continue to remember his mastery of public housing delivery, innovative educational initiatives, journalistic excellence, and forward-thinking in public service. We remember his templates of fidelity to party policy, political leadership and public trust. We are so proud of the incredible accomplishments that doted his life of service throughout and the fact that he lived a fulfilled life. I pray for a long, healthy and Jakande fruitful life like him. Thank you Baba Lateef Kayode Jakande. of temporary high office and shunned acquisitive emblems associated with many of Great Lover of the Masses. Fare Thee Well. his peers and contemporaries. In and out of office, Baba lived in his personal residence r4FOBUPS "NPTVO $0/ '$" JT UIF 4FOBUPS built many years before he forayed into representing Ogun Central senatorial district

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