ARISEPLAY in Historic Launch with Limited Subscription Offers Gets 9,800 subscribers in first 24 hours, targets 100,000 in first month Vanessa Obioha Africa yesterday witnessed a historical moment with the launch of ARISEPLAY, the new global streaming service from Arise Media Group.
It showed promise of soar away success, attracting 9, 800 subscribers in the first 24 hours of the launch, with a target of 100, 000 subscribers in the first month. ARISEPLAY boasts a rich
vault of content, curated from different parts of the world to give a wholesome global experience. It prides itself in delivering exclusive and behind-the-scenes content and is poised to rival any streaming
service in the world. With its partnership with Sony Pictures, FilmOne and independent producers, audiences across the globe can enjoy top-notch productions from Hollywood such as
The Intruder and The Bone Collector; Nollywood films and other film industries; insightful documentaries; kid shows; fashion shows such as 2020 Arise Fashion Week; music concerts (Falz
Experience); and sports while staying abreast of happenings around the world with ARISE NEWS live stream. "This distinctive streaming Continued on page 9
NNPC Spends N126bn on JV, Oil Search in January... Page 8 Monday 15 March, 2021 Vol 26. No 9472. Price: N250
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618 Schools Shut in Northern States over Abduction Scare Security agencies foil kidnapping of 307 Kaduna pupils, prevent attack on FAAN quarters
John Shiklam in Kaduna, Ibrahim Shuaibu in Kano, Francis Sardauna in Katsina, and Laleye Dipo in Minna No fewer than 618 schools
have remained closed in six northern states over the fear of attack and abduction of pupils and members of staff, according to a tally by THISDAY.
Also, barely three days after the abduction of 39 students of the Federal School of Forestry Mechanisation, Afaka, Kaduna State, security agencies on Saturday rescued 307 pupils
of Government Secondary Science School (GSSS) Ikara, Ikara Local Government Area of Kaduna from bandits who attempted to kidnap them from their school.
Security forces also repelled attempts at fresh attack on the senior staff quarters of the Federal Airport Authority (FAAN), Kaduna, where 11 people were abducted about
two weeks ago. The six states where some schools have remained closed are Sokoto, Zamfara, Kano, Continued on page 9
Big Day for Afrobeats as Burna Boy Clinches Grammy Award Wizkid shares honour with Beyoncé Vanessa Obioha It was a big day for Afrobeats last night as history was made at the 63rd Grammy Awards with Burna Boy, the self-proclaimed African Giant, took home the award for the Best Global Music Album. Also on the spotlight was Wizkid, whose duet with American singer and songwriter Beyoncé and her daughter Blue Ivy, 'Brown Skin Girl,' took home the award for Best Music Video. It is the second consecutive time the afro-fusion artiste is nominated in the category that celebrates influential music from around the globe. The category was formerly known as Best World Music Album and has been mostly dominated by Brazilians. African singers who have
won in this category include Beninese Angelique Kidjo, South African Ladysmith Black Mambazo and Soweto Gospel Choir. Burna Boy is the first Nigerian to win in this category. He edged out contenders Antibalas, an American Afrobeat band that is modelled after Fela Anikulapo-Kuti's Africa 70 band; Brazilian-American singer Bebel Gilberto; British-Indian sitar player and composer Anoushka Shankar; and the Malian band, Tinariwen. The winning album 'Twice As Tall' is his fifth studio album and featured international collaborations with Chris Martin, the lead vocalist of the British band Continued on page 9
Nigeria's Challenges, Stepping Stones to Greater Future, Says Osinbajo... Page 5
Burna Boy
ON THE WORLD STAGE...
Wizkid
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Group News Editor Ejiofor Alike Email Ejiofor.Alike@thisdaylive.com, 08066066268
Nigeria’s Challenges, Stepping Stones to Greater Future, Says Osinbajo Commends Uzodimma’s strides
Deji Elumoye in Abuja
Vice President Yemi Osinbajo yesterday described the current travails being faced by Nigeria as stepping stones to a greater future for the country. Osinbajo said in Owerri, the Imo State capital, at a special interdenominational thanksgiving service to mark the first anniversary of the administration of Governor Hope Uzodimma that faithful service to the people in public office was a way of honouring God who gave the opportunity in the first place to leaders. The vice president, who delivered the felicitations of President Muhammadu Buhari to Uzodimma and the people, said: “Despite the challenges our nation faces, by the grace of God, we, the Nigerian people, are more than able to surmount them. So, I say to you, people of Imo and the great people of Nigeria; yes, we have work to do, yes we have much to repair, but we are undaunted. The problems we see today are the stepping stones to our great future. We are, by the grace of God, mightier than our challenges." While acknowledging some of the strides so far recorded by the governor, the vice president urged him
to stay focused on delivering quality leadership in service to the people, while ensuring that their well-being remains a cardinal point for the state government. According to him, there are at least three possible forms of opposition to the government. He identified them as political opposition, time and when the leader is discouraged or distracted. Osinbajo, however, said the most critical factor is the leader. “How you deal with time and political opposition will determine success or failure. Don’t look back. Keep focused. Stay on track,” he stated. Quoting from the Bible, the vice president said: “Time and chance happen to them all. And the Almighty God controls time and chance. So you are here today by the Grace of God. And so, my brother, life is a loan and public office is a loan of even shorter tenor.” ccording to him, “Morning shows the day, and you have started well. I am aware that over the past year, your administration has invested extensively in construction and rehabilitation of physical infrastructure, the rehabilitation of educational and health institutions, as well as markets."
Osinbajo said the Uzodimma administration was undertaking some measures aimed at restoring power supply to rural communities and increasing power supply to urban areas. “I know that you have
also issued an executive order reducing the right of way charges for telecoms companies laying broadband infrastructure - which bodes well for the use of technology and the emergence of an innovation economy in this
state. “I understand that these are only a few of the initiatives that this administration is undertaking. I am told that this year’s budget has been tagged a “budget of wealth creation,” he stated.
He said the theme was apt because the federal government recognised that the country’s major challenge as a nation is creating enough wealth and opportunities to meet the expectations of the fast-growing population.
ONE YEAR IN THE SADDLE... L-R: Imo State Governor, Senator Hope Uzodimma; Vice President Yemi Osinbajo (SAN); President of the Senate, Dr. Ahmad Lawan; and the governor’s wife, Chioma, after the interdenominational Church Service to mark the governor's one year in office in Owerri…yesterday
PANDEF Faults Tinubu's Solutions to Attahiru Rallies Troops to Push out Boko Haram Herders-farmers’ Crisis Michael Olugbode in Abuja
Deji Elumoye in Abuja
The Pan-Niger Delta Forum (PANDEF) has faulted the proposals by the National Leader of the ruling All Progressives Congress (APC), Senator Bola Tinubu, on the herders-farmers’ crisis, saying that it is an effort to placate all sides of the conflict. Tinubu, in a statement on Saturday on the lingering herders’ crisis, had said both farmers and herders were victims of circumstances and, therefore, needed help. But PANDEF’s National Publicity Secretary, Hon. Ken Robinson, told THISDAY yesterday that in an attempt to be politically correct, Tinubu ended up offending both sides. He stated that security agencies are expected to take drastic and dispassionate actions against so-called "foreign'' herdsmen undermining the unity and peace of the country. He said: ''It stings when people streamline the ongoing as a farmers-herders crisis, it is not. Understandably, there have been periodic herdersfarmers’ disputes in the past in the country; the question begging for an answer is, why is it severe and widespread
now?” He added that the reasons cited by the Tinubu for the crisis may be contributory but that the reality is that a group of people, whom some have referred to as aliens seem determined to forcefully(sic) take over other people's territory, land and forests; killing and molesting innocent citizens and destroying livelihoods across certain regions of the country, which appears to some as a covert expansionist expedition that could be likened to the chronological notion of manifest destiny in western culture. Robinson noted that a certain cleric had been quoted as referring to the herders as ethnic militants, fighting for survival. According to him, the cleric has not been reprimanded, either, by the government or Fulani leaders. “Let us call a spade a spade; nepotism by this administration has caused Nigeria more harm than anything else. No amount of meetings will end the herder's crisis if the way and manner affairs of state are being conducted remain the same,'' he added.
The Chief of Army Staff, Lt. Gen. Ibrahim Attahiru, yesterday called on troops of Operation Lafiya Dole to restrategise for a final push against Boko Haram insurgents. Attahiru, during a visit to the Sector II Headquarters of Operation Lafiya Dole in Damaturu as part of his operational visit to the North-east, said he was also proud of the success the troops had so far recorded with the launching of Operation Tura Takai Bango. He told the soldiers that he came to assure them that Boko Haram would
be defeated soon. He added that his visit was to motivate the soldiers as he is poised to address both their operational and welfare challenges to boost their morale. He said: “We have come to Yobe State to the sector headquarters to meet you, to get to know you and you get to know us as well. We promised to end this issue of Boko Haram. “I am bringing very special greetings from the President and Commanderin-Chief; he is fully briefed and aware of how and what you are doing. “I personally, as the chief of army staff, I’m here to
take cognisance and note of the challenges you have and ensure that they’re addressed to ensure you have the highest level of morale to be able to do your job and do it proudly as Nigerian soldiers. “I’m very pleased; your commanders have told me what you have done collectively as part of ‘Operation Tura Takai Bango;’ how you have pushed the Boko Haram insurgents; we are so proud of you and I believe in the second phase of that operation you will do more. “So, I’m sure you will go out there and push them so hard and bring this entire
insurgency to an end, all your challenges are noted and I will address all the problems; well done.” Attahiru inspected the ongoing construction of the 233 Battalion Barack, which was awarded about four years ago. He expressed satisfaction at the speed of the work and promised it will soon be completed to enable soldiers to get decent accommodation He, however, appealed to the people of Yobe State to continue supporting and cooperating with the security operatives in order to deal with the remaining suspected Boko Haram members.
CJN Leads 18 Colleagues to Console Ngwuta's Family Alex Enumah in Abuja The Chief Justice of Nigeria, Justice Ibrahim Muhammad, at the weekend, led 18 justices and senior officials of the Supreme Court on a condolence visit to the family of the late Justice Sylvester Ngwuta, who died on March 7, 2021. A statement yesterday by the CJN's media aide, Mr. Ahuraka Isah, said the delegation was received by Justice Ngwuta’s cousin,
Nwali Ngwuta; his brother, Stephen Ngwuta; and his daughter, Chidera Ngwuta. The CJN described the late jurist as a complete gentleman who won’t hurt anyone. “He was highly dedicated to his duty and would definitely be missed by many people. May His Lordship's soul rest in peace and may God Almighty continue to protect and provide for the family he left behind," the CJN said.
Responding on behalf of the family, Nwali thanked the CJN and the Supreme Court for their support, saying the apex court has been taking care of the deceased from the day he fell sick until his demise. “Up to date, the court has been supportive of the family as regards arrangements leading to the burial of the deceased. We pray for the delegation, just as we will forever be grateful for the kindness and support
extended by the court,’’ he said. The CJN signed the condolence register on behalf of himself and his colleagues. Ngwuta, who was due to retire from the Supreme Court on attaining the mandatory retirement age of 70 years on March 30, 2021, died on March 7. His body has been deposited at the National Hospital mortuary pending the conclusion of arrangements for his burial.
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NNPC Spends N126bn on JV, Oil Search in January Emmanuel Addeh in Abuja The Nigerian National Petroleum Corporation (NNPC) funded its Joint Venture oil and gas assets, which it holds with mostly multinational oil companies, with a total of N104.7 billion in January, data from the national oil company has revealed. It also spent N21. 47 billion on oil search, payments of its monthly on Nigeria-Morocco gas pipeline, among other expenses, bringing the total expenditure to N126.17 billion during the period under review. The corporation represents the federal government in the agreements, which involve the NNPC and the private firms and contributes to the funding of operations in the proportion of their equity holdings and generally receive the produced crude oil in the same ratio. In a document detailing its February presentation to the Federation Account Allocation Committee (FAAC), the NNPC figures showed that it recorded a deficit or variance of N177.7 billion, falling below its budget of N282.4 billion in January. The NNPC also noted that through its subsidiary, the National Petroleum Investment Management Services (NAPIMS) spent about N21.47 billion to rehabilitate refineries, pay its monthly obligation on the Nigeria-Morocco gas pipeline and rev up oil search in the frontier basins. It listed other projects funded with the N21.47 billion to include national domestic gas development, gas infrastructure development, renewable energy development, crude oil pre-export inspection agency expenses and pre-export financing. A breakdown of the expenses showed that the refineries gulped
N8.33 billion of the amount, pre-export financing received N5 billion, national domestic gas development was funded with N3.17 billion while gas infrastructure development took a share of N2.39 billion. Also, the corporation stated that its frontier exploration services got N1.96 billion funding from NAPIMS while crude oil pre-export inspection agency expenses and pre-export financing were funded with N402.69 million. The corporation had recently stated that it had begun moves to grow the nation’s oil reserves to 40 billion barrels by the year 2023, from its current 36 billion barrels, saying that efforts in the search for hydrocarbons in the frontier basins had been intensified. In addition, the NNPC said it was ramping up its focus on renewable energy development financing, which gulped N119.83 million for the month, while N83.33 million financing was provided for the Nigeria-Morocco pipeline. The pipeline, estimated to cost $25 billion, is expected to serve as an extension of the West African Gas Pipeline currently serving Benin, Togo and Ghana, as well as connect with Spain through Cádiz. The 5,660-km pipeline is the brainchild of an agreement between NNPC and Morocco’s National Board of Hydrocarbons and Mines (ONHYM) and is expected to improve access to energy across the West African region while facilitating gas exports to Europe. Compared with the previous month, the NNPC spent a total of N20.23 billion on all the projects, with the refineries getting N8.33 billion while N4.19 billion and N3.17 billion was spent on the national
Report Foresees Stronger Insurance Sector after Recapitalisation Goddy Egene A new report has revealed that the ongoing recapitalisation of the Nigerian insurance industry will improve their capacity to underwrite risks, generate adequate returns on investments and make better contributions to the growth of the nation’s economy. Agusto & Co. Limited, the panAfrican credit rating agency and the foremost business information provider, stated this in its 2021 Insurance Industry Report, released at the weekend. The recapitalisation of the insurance companies, announced by the National Insurance Commission (NAICOM), is expected to be concluded by September. According to Agusto & Co., the recapitalisation could be a watershed in the industry. It stated: “In addition to the benefits accruing from a larger capital base from a risk underwriting perspective, improved investment management practices will be upheld by a larger investment portfolio driven by a need to generate adequate returns. The recapitalisation exercise has elicited mergers and acquisition transactions in the Industry.
“Agusto & Co. anticipates an uptick in these transactions as the deadline draws near. The shareholding structure of most insurers is expected to change in the near term as some investors leverage the exercise to either gain or increase exposure to the industry. With the gradual rebound of the global economy, more foreign investors are expected in the industry, given that the naira devaluation has reduced the value of insurance companies (in USD terms), despite the undisputed opportunities in the Nigerian insurance industry,” the rating agency said. Agusto & Co said the entry of new players after the embargo that lasted over a decade was a key point in the industry. “In November 2020, six new operators were licensed in the life, non-life and reinsurance segments of the industry. The firm anticipates the entry of more players, particularly from existing financial institutions seeking opportunities for diversification of income. Agusto &Co. believes that the new players will intensify competition in the industry. New insurance products and business practices are also expected from these new players,” it added.
domestic gas development and gas infrastructure development respectively. Also, N2.47 billion and N2.08 billion were spent on pre-export financing and frontier exploration services respectively in December. For the month under review, the NNPC received crude oil export revenue of $24.32 million or N9.22 billion. “This represents a 34 per cent decrease compared to December 2020. Domestic gas receipts in
the month were N4.7 billion. Feedstock valued at $48.33 million was sold to the Nigeria LNG during the period out of which $41 million was received during the month,” the NNPC stated. However, like in previous months, many flow stations belonging to the corporation suffered shut-ins, due to unforeseen circumstances and deliberate shutdowns for routine maintenance. For instance, the Batan flow
station came down for 31 days in December due to protests by staff over non-payment of salaries, leading to the shutting in of 285,000 barrels while it persisted. Opuama lost 74,000 barrels due to routine production and maintenance operation leading to the shut-in of a cumulative 82.281 barrels in addition to 16 other disruptions from various facilities, leading to a total terminal loss of 6.4 million barrels for the month.
For the summary of receipts and remittances due in January, in terms of JV contribution to the Federation Account, the royalty paid was N26.7 billion, tax stood at N41.1 billion and profit was N11.3 billion with total JV contribution standing at N79.2 billion. Added to the PSC/ miscellaneous of N11.57 billion, the total remittance rose to about N90.85 billion total contributions to the federation in January.
HONOUR FROM HOMESTEAD... L-R: Minister of Sports and Youth Development, Chief Sunday Dare; Soun of Ogbomoso, Oba Oladunni Oyewumi; the minister’s wife, Oluwakemi; and Senior Special Assistant to the President on SDGs, Princess Adejoke Orelope-Adefulire, during the conferment of the traditional title of Agbaakin and Yeye Agbaakin Ogbomoso on the minister and his wife in Ogbomoso…recently
Telcos Suspend Withdrawal of Banks’ USSD Services Pantami, Emefiele meet today to resolve disagreements Emma Okonji The initial plan by telecoms operators (telcos) to suspend the Unstructured Supplementary Service Data (USSD) to banks and other Financial Service Providers (FSP), over accumulated debt of N42 billion, has been put on hold. The decision followed the directive of the Minister of Communications and Digital Economy, Dr. Isa Pantami, who asked the telecoms operators to wait until the outcome of today’s meeting scheduled with the Governor of Central Bank (CBN), Mr. Godwin Emefiele, to discuss the lingering issues. The telcos had threatened to suspend the bank’s USSD services from today and advised bank customers to use alternative channels for their financial transactions. They accused the banks of reneging on the agreement to remit a certain amount of money to the telcos for using the USSD code to service their customers, adding that the amount accumulated over the years to reach N42 billion. The USSD is a software
code developed by telecoms operators, which allows bank customers to carry out financial transactions like money transfer, without internet data and internet connectivity. Different banks that subscribed to the service use different codes for their customers. For instance, one of the banks uses *737* to support the transfer of money from customers’ mobile devices without the use of internet data connectivity. In order to address the impasse, Pantami, through his Technical Assistant on Information Technology, Dr. Femi Adeluyi, wrote to Mobile Network Operators (MNOs), directing them to stay action on the suspension plan, pending the outcome of a meeting he has arranged with Emefiele and industry stakeholders. “The Minister of Communications and Digital Economy, Dr. Isa Ibrahim Pantami, has directed that the impending suspension of the USSD service by the Mobile Network Operators (MNOs) be put on hold. The suspension, which was to take effect on Monday, March 15, was due
to lingering debt owed MNOs by commercial banks for the provision of USSD banking service,” a statement issued by Adeluyi said. Part of the minister’s letter, dated March 13, 2021, to telecoms operators, read: “In a bid to ensure amicable resolution of the impasse, Pantami has called for a meeting of all stakeholders, including the Governor of the Central Bank of Nigeria (CBN), the Executive Vice Chairman of NCC, the MNOs and the financial institutions, scheduled to hold on Monday, March 15, 2021. “The outcome of the meeting will determine the next steps regarding the status of USSD financial services.” Chairman of Association of Licensed Telecoms Operators of Nigeria (ALTON), Mr. Gbenga Adebayo, who confirmed the letter, said telecoms operators had decided to put the suspension plan on hold, pending the outcome of the meeting. “We received a letter from the minister, asking us to put the suspension plan on hold, and we have agreed to do so, and wait for the outcome of the meeting.
If the issue is not resolved at the meeting, then we will be compelled to suspend the USSSD code,” Adebayo told THISDAY in a telephone interview. Pantami had initially written to the CBN governor, stressing the need for banks to pay the accumulated debt or risk suspension of the USSD code. Adebayo, in an earlier statement, had alleged that following the issuance of the USSD pricing determination by the Nigerian Communications Commission (NCC), which resulted in a price review of USSD service by their members, the banks decided that they would no longer pay for USSD service delivered to their customers and requested Telcos to charge customers directly for use of the USSD channel. He stated that this billing methodology where the Financial Service Providers customer is directly charged USSD access fees by the Telcos irrespective of the service charges that the bank may subsequently apply to the customers’ bank account is called “End-User Billing” which the banks demanded that all telcos should implement.
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Firm, Family Warn against Intermeddling in Late Ajayi's Assets Alex Enumah in Abuja A firm, First Foundation Medical Engineering Company Limited, owned by the late Dr. Tosin Ajayi and his immediate family, has warned the public against intermeddling with assets, including landed properties belonging to the deceased pending the regularisation of ownership of the firm. The firm, in a letter to the Managing Director of Digital Landlords Nigeria Limited and Shorter Homes, which also drew the attention of one Keji Giwa, said any transaction by anyone under any guise would amount to fraud and would be prosecuted accordingly. The firm as well as the wife and daughter of the deceased, Mrs. Helen-Prest Ajayi and Miss Tomisin, in a letter of caveat against intermeddling in assets of Ajayi, said they were alerted to a "proposed illegal sale of
landed property lying and situate at Ilasan Village, EtiOsa Local/Government Area of Lagos State measuring 3.873 hectares identified as Block A in Survey Plan No. PLS 294A/LAG.89 dated July 13, 2001, and contained in a Deed of Assignment dated January 2013 duly registered as No. 58 on page 58 in Volume 2413 of the Register of deeds kept at the Lagos State Land Registry hereinafter referred to as "the property." The property was acquired and owned by Ajayi as the alter ego of First Foundation Medical Engineering Co. Limited and his other associated companies in business partnership with his wife, Helen-Prest, who was said to be a shadow-director in the company. However, following the demise of Ajayi on April 26, 2020, the company was left with a sole surviving director, who doubles as
sole surviving subscriber to some of its shares. In the letter written on behalf of the firm and immediate family by their lawyer, Mr. Abiodun Owonikoko (SAN), the complainant said under the applicable law, when a company, by whatever reason, ceased to have at least two shareholders and at least two directors, the legal result is to render the company incapable of being run, committed or otherwise lawfully operational until its ownership and board composition are regularised to replace the exited members by appointing additional or replacement to fill the vacancy vide a court-ordered Extraordinary General Meeting (EGM). "The death of Dr. Tosin Ajayi on April 26, 2020, who was laid to rest on February 2021 precludes anybody, for the time being, from intermeddling or being able
to lawfully transact business or negotiating deals on the assets of the company until the hurdle of court-ordered extraordinary general meeting to regulate its affairs is crossed. "With respect to the personal assets of the deceased, only legal representatives duly granted probate can deal in same for the benefit of his surviving beneficiaries in accordance with the applicable laws of inheritance and succession," Owonikoko stated. While noting that mandatory judicial processes as regards ownership are yet to be concluded, the complainant stated that since the demise of Ajayi, one Mrs. Oluwayemisi Ajayi, who they claimed was never involved in the affairs of the company and effectively ceased to be associated in any way with the company and its said alter ego, more than 35 years ago upon estrangement
and represented divorce from Ajayi, had arbitrarily usurped powers of the company without calling for an extra-ordinary general meeting as required by law. "This has raised grounds for worry and genuine apprehension of imminent fraud and dissipation of the assets of the company. "Resultantly, we were caused by our client to preemptively petition the Corporate Affairs Commission in a bid to restrain the unsavory scheme of Mrs. Adenike Oluwayemisi Ajayi in July 2020," the lawyer said. He added: “In spite of the above, some enlisted agents apparently commissioned by the intermeddlers in affairs of the company and deceased estate, seem to be undeterred in their ploy to unlawfully convert and dissipate the assets of the deceased for which reason they have initiated processes towards selling the property
to you without any colour or pretense of authority or documents of title." Owonikoko stated that the caution letter is not limited to the specific property cited above but applies to all the real and personal assets, which Ajayi left behind for his beneficiaries. According to him, any purchase of the property, sequel to this caveat letter and notification of the above facts, will amount to complicity and collusion in fraud for which persons entangled directly or as accessories risk both criminal prosecution and civil litigation for wrongful meddling in the intestate estate of Ajayi. Those copied in the letter include Adenike Ajayi and her lawyer, Chief Femi Falana (SAN); Chairman of the Economic and Financial Crimes Commission, (EFCC); and Attorney-General and Commissioner for Justice, Lagos State.
The Kaduna State Commissioner for Internal Security and Home Affairs, Mr. Samuel Aruwan, told journalists yesterday in Kaduna that security forces also repelled attempts at a fresh attack on the senior staff quarters of the Federal Airport Authority (FAAN), Kaduna, where 11 people were abducted about two weeks ago. Aruwan said the bandits stormed GSSS, Ikara, in the late hours of Saturday in an attempt to kidnap the pupils, who alerted security agencies that responded swiftly, forcing tto flee. Aruwan said: “Between the late hours of Saturday night and the early hours of today (Sunday), suspected bandits stormed the Government Science Secondary School, Ikara, Ikara Local Government Area, in an attempt to kidnap students. “Fortunately, the students utilised the security warning system in place, and were thus able to alert security forces in the area. “The security forces comprising the troops of the Nigerian Army, the police and some security volunteers, moved swiftly to the school and engaged the bandits, forcing them to flee. “The military and police are still on the trail of the armed bandits.” He added that following a head-count of the pupils by the management of the school, “the Kaduna State government can confirm to you that all 307 students have been verified safe and present. The attempted kidnap was foiled completely and no student was taken from the school.”
The commissioner said a fresh attempt to attack the Kaduna senior staff quarters of FAAN was repelled by security agencies. According to him, troops foiled the attempt as they engaged and repelled them, with some of the bandits escaping with gunshot wounds. The commissioner said the Kaduna State government also acknowledged the efforts of the security agencies in the recent rescue of 180 students in the vicinity of the Federal College of Forestry Mechanisation, Afaka. “These efforts have been mentioned in interviews given by some of the rescued students. “By virtue of access to the facts of the event, the Kaduna State government extends its unequivocal solidarity to the military, police, Department of State Services and other security agencies, whose swift intervention prevented the bandits from abducting more persons,” Aruwan stated. According to him, the focus of the state government is on getting back the missing students and preventing further episodes of school abductions. “We will continue to provide updates as further information becomes available,” he added. Bandits had invaded the Federal College of Forestry Mechanisation, Afaka, Kaduna and abducted 39 students. A video of the abducted students has gone viral on social media, showing the students appealing to the government to settle the bandits as they were being flogged by the criminals.
black artistes made some changes last year to make the show more inclusive. One of such is the change of the Best World Music Album to
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618 SCHOOLS SHUT IN NORTHERN STATES OVER ABDUCTION SCARE Katsina, Niger and Yobe. In Sokoto, the state government has closed all boarding schools along border towns. The state Commissioner for Security and Career Affairs, Col. Garba Moyi (rtd), said the measure was to avoid the abduction of pupils just as it happened in Katsina, Niger and Zamfara States. He added that the state Governor, Hon. Aminu Tambuwal, had directed the state commissioner for education to merge those schools with the ones in towns. According to him, schools affected include those in Sabon Birni, Isa Rabah, Kebbe, Tangaza and Gudu local government areas. THISDAY gathered that 16 boarding schools were affected. The Zamfara State Government also closed boarding schools along the border towns after the Jangebe incident. In a reaction to the abduction of 279 pupils of Government Girls Secondary School in Jangebe, Talata Mafara LGA, Governor Bello Matawalle had shut down 10 schools along the borders with Sokoto and Katsina States. The state Commissioner for Education, Mr. Ibrahim Abdullahi, listed the 10 affected schools as Government Secondary Schools in Zurmi; GSS Birnin Magaji, (boarding) and G.A.S.S Zurmi (boarding); G.G.S.S Moriki (boarding); Science Secondary School Shinkafi (boarding); Science Secondary School, Dansadau (boarding); Science Secondary School, Bukkuyum (boarding);
G.D. S. S Nassarawa Mailayi (day); G.D.S.S Gusami (day), and G.D.S.S Gurbin Bore (day). In Katsina, the state government had initially shut down all its 38 boarding schools after the abduction of 344 pupils of Government Science Secondary School, Kankara. But the Commissioner for Education, Prof. Badamasi Lawal, later announced the reopening of four out of the 38 boarding schools after a meeting with zonal inspectors of education and permanent secretaries. He listed the four boarding schools which reopened on March 2 as the Command Secondary School, Faskari; Command Girls Secondary School, Barkiya; Command Secondary School, Musawa and Police Secondary School, Mani. The commissioner explained that male pupils in the remaining 34 boarding schools should report to the nearest day secondary school in their location to continue with their studies, while female students should remain at home until the security situation in the state improves. The Kano State Government also closed four tertiary institutions and 12 secondary schools over insecurity in neighbouring states. The five tertiary schools closed are Rabiu Musa Kwankwaso College of Advance and Remedial Studies, Tudun Wada; School of Environmental Studies, Gwarzo; School of Rural Technology and Entrepreneurship Development (SORTED), Rano and Audu Bako College
of Agriculture Development (ABCOAD), Dambatta. The state government also closed 12 boarding secondary schools on the outskirts of Kano metropolis over increasing abduction of pupils. The state Commissioner for Education, Mr. Muhammad Sunusi Kiru, said the closure became necessary due to the rising number of abductions of schoolchildren in neighbouring states. The closed schools are located in Ajingi, Sumaila, Jogana, Kafin Maiyaki and Gaya, among others. All secondary schools in Niger State have been closed by the state government. The two-week closure was from March 12. The Commissioner for Education, Mrs. Hannatu Salihu, said the closure of the schools was to enable the government to make adequate security arrangements to protect the pupils and workers. In the wake of the abduction of 42 persons from the Government Science College, Kagara, the state government had closed only the boarding schools in Rafi, Mariga, Magama and Shiroro LGAs, which were believed to be prone to bandits’ attacks. With the closure of all secondary schools in the state, THISDAY gathered that about 496 schools were affected. The Information Officer of the State Ministry of Education, Alhaji Jibrin Kodo, told THISDAY that 56 boarding schools with two of them mixed are affected while the rest of the schools in the state are day schools.
He declined to state the total number of schools in the state. The Yobe State government also closed all boarding schools as part of proactive measures to safeguard pupils' lives. The Commissioner for Basic and Secondary Education, Dr. Muhammed Idris, who announced the measure, said: “Students from JSS I to SSS II should vacate their schools immediately. “The closure of the boarding schools is informed by the security concern and the urgent need for government to be proactive in safeguarding the lives of the children”. The commissioner, however, said all day schools were to continue with their normal academic activities. The News Agency of Nigeria (NAN), quoted the commissioner as saying that further statements would be made concerning the reopening of the schools as soon as possible. THISDAY gathered that 46 boarding schools were affected by the closure.
Security Agencies Foil Attacks on School, FAAN Quarters in Kaduna Meanwhile, barely three days after the abduction of 39 students of the Federal School of Forestry Mechanisation, Afaka, Kaduna, security agencies on Saturday foiled attempts by bandits to abduct 307 pupils of Government Secondary Science School (GSSS) Ikara, Ikara Local Government Area of Kaduna state.
BIG DAY FOR AFROBEATS AS BURNA BOY CLINCHES GRAMMY AWARD Cold Play; American rap group Naughty by Nature as well as Senegalese veteran singer Youssou N'Dour. Burna who performed at the
premiere ceremony entertained audiences with a powerful medley of his songs, starting with the chorus of “20:10: 20” to “Level Up' to 'Onyeka' and
'Ye', complemented by his band 'The Outsiders'. Hosted virtually and physically with a limited audience, this year's award
recognises best recordings, compositions and artistes of the eligibility year. The Recording Academy often pilloried for sidelining
ARISEPLAY IN HISTORIC LAUNCH WITH LIMITED SUBSCRIPTION OFFERS service will be combined with linear channels in the UK, Europe and Africa, which will enable the unparalleled delivery of hundreds of titles in
different categories," explained Brand and Marketing Lead of Arise Media, Sakina Renneye, in a statement. Beyond the content, the
streaming service app, which can be downloaded on Google Play Store or iOS, is creatively designed using the best-in-class algorithms and AI technology
that will automatically determine the options that suit each subscriber’s profile, and alert them when there is new content.
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Osun Kicks as Gunmen Kill Six Members of Same Family Yinka Kolawole in Osogbo The Osun State Government has condemned the killing of six members of the same family by unknown gunmen at Wasimi community in Irewole Local Government Area of the state. The victims, who were attacked before daybreak on Saturday, lived in the community located along the Ife/Ibadan expressway. Osun State Deputy Governor,
Mr. Benedict Alabi, who visited the scene yesterday evening, described the incident as a case of brutal assassination. He vowed that the perpetrators would be brought to book in no distant time. “This is a very unfortunate incident and we are so sad about it as a government. It is shocking and strange to our communities. “We are here on behalf of the state government to sympathise
with you and we are assuring you that those criminal elements that perpetrated this evil act would not go scot-free, we have ordered security agencies to swing into action and fish them out to face the wrath of law”.
Sources said the gunmen invaded the community along the Ife-Ibadan expressway the midnight, shooting sporadically. It was gathered that operatives of the Oodua Peoples Congress (OPC) and Hunters Group
of Nigeria were combing the bush in the area in search of the perpetrators. The Police Public Relations Officer in Osun State, Yemisi Opalola, confirmed the incident. She said: “The killing happened
in a community called Wasinmi and all the people killed are family members. The Commissioner of Police is currently in the place as I speak to you and our officers have also been deployed to the place.”
FG, Marketers to Meet over Price of Petrol Chinedu Eze Major and independent marketers have been invited by the federal government to deliberate on the new price of petrol, as price of crude oil in the international market continues to rise. This was disclosed yesterday by the President of the Independent Petroleum Marketers Association of Nigeria (IPMAN), Mr. Chinedu Okoronkwo, in an interview with ARISE NEWS Channel, a sister broadcast arm of THISDAY Newspaper. Okoronkwo assured that government would come to agreeable price for the product and condemned the Petroleum Product Pricing Regulatory Agency (PPPRA) for speculating the price of N212 per litre of petrol, which drove the country into frenzy and panic. He said that in a deregulated environment, the price of the product should not matter but its availability, s because the product availability would determine the price. “The aim of government is to
move the country forward; so, the objective of the meeting is to come to agreeable price. The independent marketers have been invited. The major marketers have also been invited by government and I assure you that government will come up with what will be good for everyone. I fully support deregulation. In a deregulated regime price does not matter; what matters is the availability of the product,” he said. He also said that Nigeria spends N70 billion a month and about N2 billion daily on petrol and canvassed for alternative source of energy. Okoronkwo noted that the government is pushing for autogas, which would be cheaper and environmentally cleaner. Okoronkwo emphasised that the huge amount of money being spent can be channeled to gas, noting that it is a major programme by the federal government, which is already carrying out industrywide consultations to ensure smooth and quick transition to cleaner automotive fuel under government’s autogas policy.
NAFDAC Destroys N2bn Drugs, Food Products in Anambra, Kano Onyebuchi Ezigbo in Abuja National Agency for Food and Drug Administration and Control (NAFDAC) has said it destroyed counterfeit drugs and vaccines, cosmetics, and expired food items worth over N2 billion in Kano State and Awka in Anambra State. It said the destruction exercise carried by its officials took place in Kano and Awka. According to the agency, its operatives had combed the nooks and crannies of three geo-political zones of the federation, namely, North-west, South-east and Southsouth to mop up expired drugs and unwholesome food products with a view to safeguarding the health of the Nigerian people. In a statement issued yesterday by NAFDAC’s Resident Media Consultant, Sayo Akintola, the agency said that while counterfeit drugs and spurious food products worth over N1.4billion seized from both the South-east and South-South zones were destroyed in Awka, last Thursday, similar dangerous drugs, and unwholesome food items worth N613 million were destroyed at the Kalebawa dumpsite along Kazaure-Daura road, Dambatta, Kano.
The Director General of NAFDAC, Prof. Mojisola Adeyeye, who was represented by the Director of Investigation and Enforcement in the Agency, Mr. Kingsley Ejiofor, during the exercise, said the destruction was part of the efforts to rid the Nigerian market of unwholesome products and engender public confidence. She warned that henceforth, “there will be no hiding place for the merchants of death, who derive joy in the unpatriotic act of circulating expired and falsified drugs and food products that are inimical to public health across the country”. Adeyeye listed the products to include substandard, fake, falsely labelled medicines, unwholesome processed food products and cosmetics seized from manufacturers, distributors, and importers. He disclosed that the expired drugs were also handed over voluntarily by companies, NonGovernmental Organisations, trade unions, Pharmaceutical Society of Nigeria (PSN) and National Association of Proprietary and Patent Medicines Dealers (NAPPMED).
GATHERING THE FIELD…
L-R: Former member of the National Assembly, Senator Ayo Adeseun; former governor of Oyo State’s wife, Mrs. Florence Ajimobi; former Deputy Governor, Chief Moses Alake-Adeyemo; former Minister of Communication, Mr. Bayo Shittu; and former governorship aspirant, Senator Femi Lanlehin, during a visit to the former governor’s wife by members of the United Front (Ajimobi Legacy Forum and the Unity Group) in All Progressives Congress in Ibadan…yesterday
IPI Nigeria Approves Constitution Ejiofor Alike The General Assembly of the International Press Institute (IPI), Nigerian Chapter, has approved a constitution for its operations in the country. The body said in a statement issued yesterday that the approval was given at a meeting of IPI held both virtually and physically and hosted by Daily Trust Newspapers on Tuesday in Abuja. IPI- the global network for senior journalists, publishers, seasoned broadcasters and communication experts- is headquartered in Vienna, Austria and operates under a global constitution. The Nigerian chapter, otherwise referred to as the Nigerian National Committee, has domesticated
the IPI constitution to suit its environment. The IPI Nigeria constitution provides for an expansion of its current executive committee (Exco) from just the Chairman (now changed to President) and Secretary, to now include the offices of deputy president, assistant secretary, auditor and legal adviser. Other resolutions of the meeting chaired by its President, Malam Kabiru A. Yusuf, include deployment of robust measures that would enhance membership drive into the Nigerian chapter of the body, as well as approval of the criteria for such membership recruitment. According to the provisions of the IPI Nigeria Constitution, membership of the institute is
open to persons active in the field of journalism in reputable traditional and web news media organisations, freelancers and lecturers/researchers in schools of journalism/Mass Communication/ Communication Arts, or those working in outlets that defend and support the principles of press freedom and rights and the desire to co-operate to achieve the objectives of the global body of the institute. According to the constitution, membership is open to only persons who have spent 10 years and above in a recognised media organisation. For individual membership, payment of registration fee of N10,000 and annual due of N20,000 is mandatory. . For corporate membership -
reputable traditional and web news media organisations and platforms operating in Nigeria - it is N50,000 registration fee and N100,000 annual due. The Constitution provides for a seven-member Board of Trustees (BoT) for IPI Nigeria, with members entitled to not more than two-terms of five years each. The statement disclosed that the General Assembly will reconvene on Tuesday, March 23, 2021, to receive the reports of the contact/ mobilisation and the property purchase ad hoc committees, which were set up late last year, and to also start preparations for the composition for a new executive committee that will pilot the affairs of the IPI Nigeria for the next three years.
Falana: How FG Frustrated Ibori’s Trial in UK Davidson Iriekpen
Human rights lawyer, Mr. Femi Falana (SAN), has revealed that the federal government frustrated the trial of former Governor of Delta State, Chief James Ibori, in the United Kingdom (UK) but now wants to receive the recovered loot. Ibori was jailed by a UK court in 2012 during the administration of President Goodluck Jonathan. Last Tuesday, the UK government made a commitment to return £4.2 million loot recovered from Ibori to the federal government. The Attorney-General of the Federation and Minister of Justice, Abubakar Malami, had said the recovered loot would be channelled into federal projects. Falana had said the money should go to Delta State since it was stolen from the state. Malami, in a counterargument, said the money would be received by the federal government because the law, which Ibori breached is a federal law, and not that of Delta State. But in a statement issued
yesterday, Falana said the federal government was not supportive of the prosecution of Ibori in the UK. “In fact, in utter breach of the provisions of the Mutual Legal Assistance Treaty between Nigeria and the United Kingdom the then AttorneyGeneral of the Federation, Chief Michael Aondoakaa (SAN) rejected the request to make relevant documents available for the trial in the United Kingdom on the ground of sovereignty. “In particular, Chief Aondoakaar refused to entertain the request of the UK Metropolitan Police and made under bilateral mutual assistance to Nigeria on the ground that the request was not made by the Home Office,” Falana said. “As far as international law is concerned the recovered fund belongs to the people of Delta State who are the victims of the corrupt practice of Chief Ibori. The British Government is releasing the stolen money to Nigeria in strict compliance with international law and not out
sheer generosity as erroneously argued by some lawyers”. Making reference to precedence, Falana said the federal government “had handed over the fund stolen by two former governors, in similar circumstances, to the people of Bayelsa and Plateau States”, adding that Delta should not be an exception. He said the denial of the then government of Delta state that no money was missing from its coffers should not be the basis to hand over the loot to the federal government since President Muhammadu Buhari claimed that General Sani Abacha, the late military dictator, did not loot the country but his government received the $321 million Abacha loot from Switzerland. “From the foregoing, it is undoubtedly clear that the huge success recorded in the prosecution of the case was anchored on the collaboration between the Economic and Financial Crimes Commission (EFCC) and the Metropolitan Police. To that extent, the federal government which had set out to frustrate the trial of Chief Ibori cannot turn
round to lay claim to the fund confiscated on the orders of the British courts. Having regards to the facts and circumstances of the case the the Ibori loot belongs to the people of Delta State in toto under domestic and international law,” he said. Falana noted that the former Delta State Government was irresponsible to have denied that Ibori looted the treasury of the state at the material time. He however insisted that such denial cannot be a justification for the confiscation of the Ibori loot of over £100 million that is expected to be repatriated to Nigeria by the British Government. “After all, before his assumption of office as President in May 2015, Muhammadu Buhari had repeatedly maintained that the late General Sani Abacha did not steal a dime from the account of the federal government. But the federal government under the President’s watch has continued to recover the remaining Abacha loot and no one has suggested that such recovered loot be paid to the account of the United Nations or African Union on moral grounds.”
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South Must Get Presidential Ticket in 2023, Says Ndume The senator representing Borno South senatorial district in the National Assembly, Senator Ali Ndume, has said the clamour for a
northern presidency in 2023 would amount to the north seeking a third term in office, describing it as unconstitutional.
Nigeria Drifting, Requires Better Leaders, Says Tambuwal Chuks Okocha in Abuja Governor Aminu Waziri Tambuwal of Sokoto State has raised the alarm that Nigeria is heading for the rocks except leaders rally round to save it from the impending doom and also get the leadership selection process right. Tambuwal made this observation yesterday at the Sultan of Sokoto’s Palace where a reception and public lecture was held in honour of the members of the National Institute for Policy and Strategic Studies (NIPSS), Kuru, Jos, who were appointed into his administration. Responding to a paper titled: ‘The Responsibility of a State and Stable Democracy in Nigeria: Challenges and Prospects,’ delivered at the event by the former Chairman of the Independent National Electoral Commission (INEC), Prof. Attahiru Jega, the Sokoto State governor
said: “it is a collective responsibility to reconstruct the processes and bring better people on board.” Agreeing with the recommendations of the paper, the governor however lamented that Jega did not mention the recent experience of END SARS protests that nearly shut down the country, asking: ”What can we do if these young men and women who protested possibly aspire to fill certain positions? ” He, therefore, admonished leaders in the country on the selection of their successors. “In all they are going to do, they must factor them in and see how best they can bring them on board and work with them and find accommodation for them.” “In Nigeria we must build institutions. As it were, we have seen what happened to the electoral process, judiciary and what is still happening even at the National Assembly,” he lamented.
The Senator also opposed the call for amnesty for repentant bandits, insisting that as criminals bandits should be made to face the full weight of the law. The former Senate Leader lamented that while the nation was on the brink of collapse, many “Nigerians still trivilaise, tribalise and give the situation religious coloration. We are now in this sorrow state”. He said no northern should be fielded in 2023 for the presidential poll. “I am against APC producing its presidential candidate from
No fewer than 1,000 persons have been displaced as rainstorm destroyed 200 houses in Erimope Ekiti, Moba Local Government Area of Ekiti state. The heavy downpour, which started at about 6pm on Friday, wreaked havoc on residential buildings in the town with the displaced now taking refuge in a neighbouring community. Apart from private homes, the rainstorm accompanied by heavy wind, also destroyed two public primary schools and auditoria belonging to Pentecostal and Catholic Churches in the town.
Properties that were destroyed in those buildings were:Roofing sheets, kitchen utensils, foams, household materials, electrical poles and appliances. While inspecting the wreckage on Saturday, the Chairman, State Emergency Management Agency (SEMA), Capt. Sunday Adebomi (rtd), described the incident as strange in the history of the community and the entire local government area . The SEMA boss said: “The Governor of Ekiti State, Dr. Kayode Fayemi was particularly happy that no life was lost during the storm, which affected about 200 houses in this town.
The African Development Bank (AfDB) is to support African countries to have quality healthcare infrastructure and ensure the continent develops its pharmaceutical capacity as well as produce required vaccines within the continent. The bank also wants developed countries to extend the period of debt repayment and forgiveness in such a way that the period of deferment continues to be helpful to African countries. President of the bank, Dr Akinwunmi Adesina, speaking on Africa’s Debt and Growth
We learnt over 1,000 residents had been displaced already. “We are here to assess the level of destruction by the storm which was a mystery. The present administration in Ekiti State under the leadership of Dr. Fayemi would do everything within its capacity to ameliorate the plights of the victims. “The government commiserates with the victims and I advise our people to as a matter of urgency embark on the planting of trees in their environment. The move would further avoid future occurrence of such an unfortunate incident”.
UN Lauds Dangote Women, Harps on Gender Roles for Global Economic Recovery The United Nations (UN) has underlined the need for governments all over the world to put women and girls at the centre of their efforts to recover from the ravaging effects of the COVID-19 pandemic disease as the panacea for economic recovery. This call was made by the Deputy Secretary-General of the UN and Chair of the UN’s Sustainable Development Group, Ms. Amina Mohammed, while speaking at Dangote Women’s Network (DWN) webinar titled: “Choosing to Challenge for a Win-Win: Overcoming Challenges in a Gender-Biased World,” to commemorate the International Women’s Day, which is marked in March every year. During a virtual video call from the UN Headquarters in New York, Ms. Mohammed, who was the main Speaker at
the DWN Webinar, said gender equality and women’s rights are essential to getting through the pandemic, to recovering faster and to building a better future for the world. Besides, President of the Dangote Group, Mr. Aliko Dangote, in his welcome remarks at the event, reiterated the group’s commitment to the empowerment of all categories of women as a top priority of the Aliko Dangote Foundation (ADF), the philanthropic arm of the group. Mohammed said in her presentation that putting women and girls at the centre of any economic recovery plan would fundamentally drive better and more sustainable development outcomes for all, support a more rapid recovery and place the world back on a footing to achieve the Sustainable Development Goals
candidate come from the south. However, you cannot say you want to be the head of the house, and at the same time, calling for the division of the House. “That is what is giving the Northerners the opportunity to say they want to be the President again because if you want to be the President of Nigeria, you must believe in the unity of Nigeria. “If you want the country to be divided, which Nigeria are you going to be president of? So, for me, I support a candidate from the south, anywhere in
the south. “If you ask me, I will say each of the three zones in the south should bring one or two candidates and let us go to the convention for Nigerians, especially the APC to decide and whoever emerges will be given the support to win the election”. Speaking on calls by Islamic scholar for the government to grant amnesty to bandits, Ndume said: “My position on this is well known. Starting from the programme of deradicalisation of Boko Haram members, I have been totally against it. I contemplated going to court to stop.
AfDB to Support Quality Healthcare Infrastructure Across Africa
1,000 Homeless as Rainstorm Destroys 200 Houses in Ekiti Victor Ogunje in Ado Ekiti
the north. The APC presidential candidate should come from the south. “If you have the presidential candidate of the APC from the north, it is tantamount to third term and to me, it is unconstitutional. “The constitution says the President should serve two terms and we say the north should serve two terms. “If you say the north should produce the President again, it means you are going for third term which is not fair. I believe in fair, justice and equity.” He added: “Let the
(SDGs). “Everything we do during and after the COVID-19 crisis must aim to build more equal, inclusive and sustainable economies and societies. This is perhaps the clearest lesson emerging from the pandemic. This includes gender-responsive economic and social policies and placing women’s economic lives at the heart of the pandemic response and recovery plans,” she insisted. Mohammed noted that the COVID-19 pandemic has deepened the already existing gender inequalities and vulnerabilities in the social, political and economic systems and insisted that there is need for governments around the world to take urgent steps to protect women and expand support services that would reduce the impact of the pandemic on them.
in an exclusive interview with CNN ahead of the launch of the bank’s African Economic Outlook 2021 today (Monday), said the bank projects a growth of 3.4 per cent in the year ahead, even as the continent faces a critical future unless there is a debt relief. He pointed out that COVID-19related spending has swollen many countries borrowing; and without more aid, 39 million Africans stand the risk of falling into extreme poverty this year. More than 30 million Africans are already in the extreme poverty bracket.
Adesina said Africa had never seen anything like this before. Growth last year was projected at -2.1 per cent. “That’s the lowest growth rate for 50 years in Africa. You don’t see the virus but the effect of it are just so mindboggling. The GDP of Africa went down by 175 billion dollars. Last year we had 30 million people fall into extreme poverty. This year, that trend continues with 39 million people going into extreme poverty, hunger and all that. It’s been just quite a lot.” However, he said it was not all
negative. “We projected that Africa will grow back. We projected 3.4 per cent back this year; but all that is conditional on two things: Access to vaccines and the issue of debts. The AfDB President noted that the issue of vaccine was a big problem. You know so far 40.6 million vaccines have been delivered in Africa and people can’t even get a shot in the arm. That 40.6 million is only one per cent of what we need; talk less of having 60 per cent of herd immunity. So we are way off the mark on that.”
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COMMENT
Editor, Editorial Page PETER ISHAKA Email peter.ishaka@thisdaylive.com
ENERGY SUBSIDY AND IMPROVED HDI Victor C. Ariole urges Nigeria to make the best of its human and energy resources
O
n human development index (HDI) Nigeria is rated 161 out of 189 countries. Benin Republic is rated 158, better than Nigeria. Norway as a petroleum country rates highest in HDI and even intends to have a life salary for its citizens. You might claim that it has a small population but it does not mean that Nigeria, if well planned, cannot beat Norway. It is also about leveraging the lives of people with whatever a country has as its raw or natural endowment that beats others in terms of comparative advantage. For the whole west Africa, to start with, Nigeria is at great comparative advantage in human capital and energy resource to an extent that its either loss of over 200,000 barrels of oil a day as reported, or its failure to make its seaport viable as it incurs loses that build up as advantage for Benin Republic, making it a better country in terms of HDI than Nigeria. Collaborating with Nigeria’s neighbours remain a better option for making lives better in Nigeria than closing border; and it requires effective planning and monitoring, given the great human resource endowment of Nigeria. Petroleum subsidy, it is assumed, profits more of our neighbours; and I say that it is a big fallacy. No matter how much they decide to sell petroleum product in the neighbouring countries, if well monitored, Nigeria could still be the gainer. Economic saboteurs are not ghosts. We were told that Nigeria consumes 30,000 litres a day in 2014 before we started hearing that it is over 100,000 litres in 2019. Even at that, as a leveraging commodity towards seamless greater production capacity in any endeavour, seen in most developing countries, it amounts to ONE LITRE of petrol for about 200 Nigerians a day. If you compare that to what people in the West enjoy, reflected in ease of transportation, ceaseless power supply and effective gas supply to households, it seems an inverse relationship of: for every person in the West about 200 litres of petrol or its equivalent in energy are made available to them for optimum productivity. And no one is seeing that as a subsidy. In some countries as you are employed, mortgage facilities are put in place for you to erase your worries of accommodation. It is part of leveraging principle and it could account indirectly as subsidy. If you can’t call it petrol subsidy in Nigeria, call it “Tax Refund on Reasonable Consumption Pattern”; that means while maintaining “market forces’ rate” on pricing of petroleum products, people can still get refunded every month on what they spent in relation to what is seen as reasonable consumption pattern based on the receipts they turn in for tax refund. And those who made unreasonable purchases or unreasonable consumption either by smuggling to neighbouring countries, could be made to pay excess tax; that is the principle of “Compensation Fund” as seen in government purchase and exportation of Cocoa during the times Houphouet-Boigny and Alasane Ouattara were ruling Côte d’Ivoire as President and Prime Minister respectively. Whether the price of Cocoa was low or high in the international market, the Cocoa farmer received a stable income that was never based on market forces. However, the burden of not depressing the
HOW COULD NIGERIA DEVELOP ITS HDI IF IT IS UNMINDFUL OF LINKING PROJECTS WITH HUMAN DEVELOPMENT, LIKE BUILDING SCHOOLS, HOUSES, GOOD ROADS AND RECREATIONAL FACILITIES IN AREAS INVESTORS ARE MAKING GREAT PROFITS PRIOR TO TALKING ABOUT CORPORATE SOCIAL RESPONSIBILITY?
value of Cocoa resided on government’s capacity to negotiate with the international buyers, like it behoves OPEC to do same for its people, so as not to depress livelihood in Nigeria. Nigerian government is not thinking reasonably like a country of Third World, or at best, emerging economy that must draw a matrix of how best to combine its human and energy resources to make its HDI the best like Norway is doing. Norway has grown its sovereign wealth fund, established in 1990, to over $1 trillion. Both Natural Gas and Crude oil, not wasting any like gas flaring, amount to two million barrels per day. Nigeria is still flaring gas, and exports more than Norway; and it has depleted its initial seed value of $1billion sovereign wealth. Even when it expects to get to $1.5 trillion to make it the 20th in World GDP, Norway has got that already in its savings. Coming closer to west Africa with Côte d’Ivoire doing better than Nigeria, in terms of HDI, and, as well, an oil producing nation, its oil input to its GDP is quite minimal, with services dominating its GDP with over 50%, proving that it is more trusted in ease of doing business than Nigeria. Hence, investors could confidently come and improve on building more houses, schools, roads, and other factors that make HDI better. One particular fascinating bargaining prowess of the Ivoirien government is that for every great industrial project that is expected to make profit for investors, they are made to factor in infrastructural development within the area that will be of sustainable benefit for the immediate inhabitants unlike in Nigeria where an oil company could be exploiting oil in an area and the whole immediate environment could be living in abject poverty and squalor. For example, you don’t commit $15 billion investment in refinery and fertiliser project and allow squalor to fester within there; like in Epe and the immediate inhabitants and the expected profit of such investment and the immediate inhabitants are left on their own, or you claim you have settled the land owners with money, and you know that the money in the hands of a displaced peasants could only end up in the pockets of another capitalist-minded oppressors. How could Nigeria develop its HDI if it is unmindful of linking projects with human development, like building schools, houses, good roads and recreational facilities in areas investors are making great profits prior to talking about Corporate Social Responsibility? 10,000 projects for each of the estimated 10,000 communities in Nigeria could lead to better facilities’ development that could upgrade Nigeria’s HDI, and Nigeria’s energy endowment could do that, and the endowment is not only in the Niger Delta region, it is everywhere in Nigeria. Call it HDI and SDG (Sustainable Development Goals) linked investments, and factor-in, from the feasibility report process, such retrievable subsidy contents as they impact on human beings’ lives. Ariole is Professor of French and Francophone Studies, University of Lagos
AS BAWA MOUNTS THE SADDLE … He must thread the path to higher moral ground, writes Timi Alagbo
T
he Economic and Financial Crimes Commission (EFCC) is a global brand and Nigeria’s first-string anti-corruption agency. Outcomes in the Commission’s investigation, prosecution and enlightenment have in the 18 years of its existence, made it the sole model in African destinations. This was possible following the successive stretch of good leadership in the commission. From Mallam Nuhu Ribadu, the premier chair of the commission to Mohammed Umar Abba, who just bid goodbye, each of the previous five leaders of the Commission brought excellence and acumen to the table. On February 16, President Buhari nominated the youthful Abdulrasheed Bawa as the commission’s chair and on 24th of the same month, he got a Senate nod for the job. With these, he became the first regular staff to mount the commanding height of the commission and the youngest to boot. While he parades an impressive resume in anticorruption engagements, his hands-on experience as a detective and former head of the commission’s Ibadan, Port Harcourt and Lagos zonal offices equips him supremely well for both the field and administrative challenges of the job. As he mounts the saddle, he needs not be reminded that he would be writing his testimonial with every action or inaction of his. Like every new leader on a new job, Bawa comes with a lot of promises and has raised public expectations, a notch higher, largely because of the generational shift he represents, the spark he has shown and the propriety questions his nomination threw up in the public space. Like a golden fish, there will be no hiding place for him and what he does. The public has noted that he has been making the right commentaries. He says that more than ever before, the commission would be ahead of the
devices of the tribe who thrives on economic and financial crimes. He talks of human capital capacity building in the commission, and an attention to their welfare. While it is only one or two of his predecessors that were stellar in a few of these directions, Bawa can walk these talks if he can summon just the will. For me, one of the starting points for all the battery of things he has outlined to achieve should be the need to the key the lowest rung of the commission’s detectives, trained for arm-bearing into what they were trained for in military institutions such as the Nigerian Defence Academy (NDA) and Air Force Base. Reports have it that after expending the Commission’s lean resources to equip this cadre of staff for core security duties, successive leaderships of the Commission would simply consign them to office messengers. Indeed it is a painful irony that the young errand blokes were actually trained to be armed security personnel of the commission, honed in weapon handling and security operations in the nation’s A-list military institutions. While this aberration is said to anchor on the preference of successive police leaderships of the commission, to work with their own men, Bawa should move in the trajectory of handing the commission’s security operations to the commission’s staff, trained for the purpose. As a leader, he should not shy away from taking initiatives and exploring new frontiers, especially if such are in the right direction and perhaps cost efficient to the commission too. While it is good news that the commission has begun the process of weeding out police officers in its ranks in line with the recommendation of the Justice Ayo Salami judicial panel, reports have it that the departing police officers would likely be substituted with personnel of the State Security Service (SSS) and probably a bunch from National
Intelligence Agency (NIA). It is slam-dunk that the reason for which the EFCC is on a roller-coaster of switching from police security to the now likely that of SSS and NIA is because it has security personnel to call its own. At any rate, Bawa must interrogate whatever is the reason for putting the designated security staff of the commission through the crucible of top notch military training in arms handling, put them again through months of mental demilitarisation, civil Intel gathering and anti-corruption courses in the commission’s academy, only to turn them to office messengers. Over the years, the EFCC has striven to align its operations with global best practices, having the FBI as blueprint, but the commission cannot be said to have truly achieved or approximated this, largely because of the overwhelming and ever present extraneous influences and the miscellaneous collection of field staff from the police and the commission because often times, some of these external security officers foisted on the commission are already weaned on visions, attitudes and temperaments that diverge from that of the commission-groomed staff. As it were with the police, the EFCC under Bawa is still unlikely to make input in the choosing of the new security personnel that would take over from the police. But he could redeem the impropriety in quick turnaround time by equipping the commission’s staff that have over the years been specially trained to bear arms. Preparatory to Bawa’s assumption of office, a widespread promotion was implemented by his predecessor, Mr Abba, an assistant commissioner of police. This, to a good measure would save the new helmsman the whining and pinning from erstwhile army of staff, stranded years-on-end on one grade level and allow him the breather he needs to implement his agenda and study the staff so that he can see through the unholy schemes of some of them,
who would grab any chance to game the system. For a good measure, Bawa must not fall for the schemes of some of the commission’s retiring management staff, who are adept in playing a miscellany of ethnic, religious and filial cards to get immediate contract appointments upon retirement, in order not to relinquish their exalted positions. The public wants to see that a management staff due for retirement either on account of age or length of service, makes way and goes home to enjoy his or her deserved rest. For one, this would create room for equally qualified new brooms or subordinates to come on board with fresh ideas and to prove their mettle. It is also fair and equitable. The new EFCC boss can’t be dumb not to see through a staff who’s ingratiating himself or herself with him just to get an objectionable favour that could be used somehow, someday, against him. The ethnicity of a staff, his tongue and how he worships his god should cease to be the denominator in who gets what in the commission. Some actions and policies of most of the past leaderships of the commission, drew flacks and public ire for being tempered by ethnic, religious or nepotistic considerations. As he rides in the wave of high public expectations, it should not be lost on the new sheriff that just one single goof could be all it would take for his personality and image of the commission to crash in a heap in the eyes of both the staff and public. The treacherous anti-corruption terrain requires a strong and savvy character to navigate. It beckons on a leader who can strike a balance between public expectations and how state actors want the game to be played. If this balance shakes out under Bawa, it would for the very first time lower the decibel from the public against the commission for a perceived skewed anti-corruption fight. Alagbo is an Abuja-based civil society activist
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T H I S D AY • MONDAY, MARCH 14, 2021
EDITORIAL PUTTING NDDC FUNDS IN ESCROW ACCOUNT The President may do well to inaugurate the substantive board
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pparently concerned by the level of corruption, opacity and the illegality that now define operations of the Niger Delta Development Commission (NDDC), SouthSouth governors last week called on President Muhammadu Buhari to, in the absence of a substantive board for the commission, put all NDDC funds, except those meant for salaries and imprest, in an escrow account. “We do know that there is a forensic audit taking place and if for that reason the board has not been constituted, our advice is that monies being sent to the NDDC should be put in an escrow account until a board is constituted and then, proper processes are followed in the expenditure of the money in such a way it will be visibly accountable in the best interest of the peoples of the Niger Delta,” the governors stated. Not surprisingly, the minister of Niger Delta, Godswill Akpabio, who is at the centre of the crisis, has come out to oppose the position of the South-South governors which we wholeheartedly endorse. This needless problem started a month after IF WE MUST ENTRENCH the Senate confirmed A CULTURE OF the 15 nominees TRANSPARENCY AND as NDDC board ACCOUNTABILITY IN members almost two THE AFFAIRS OF THE years ago. Before they COMMISSION, IT IS could be sworn-in, IMPORTANT TO HAVE A the president deferred SUBSTANTIVE BOARD IN to Akpabio who has PLACE practically been running the commission under the pretext of a never-ending ‘forensic audit’. Unfortunately, it has been a tale of scandals at the NDDC, following the inability of President Buhari to constitute a substantive governing board to run its affairs as stipulated by law. That has created a situation in which the commission cannot fulfil its mandate. Lamenting that the federal government has changed the Interim Management Committee (IMC) twice before
Letters to the Editor
appointing an interim administrator in less than two years, the Pan Niger Delta Forum (PANDEF) says that the NDDC Act did not provide for an IMC or interim administrator. “What does the President’s continued appointment of an interim committee and now interim sole administrator tell about his accountability and transparency and anti-corruption fight?” asked former President of the Movement for the Survival of Ogoni People (MOSOP), Ledum Mittee.
E T H I S DAY EDITOR BOLAJI ADEBIYI DEPUTY EDITOR YEMI AJAYI, DAVIDSON IRIEKPEN, MANAGING DIRECTOR ENIOLA BELLO DEPUTY MANAGING DIRECTOR KAYODE KOMOLAFE CHAIRMAN EDITORIAL BOARD OLUSEGUN ADENIYI EDITOR NATION’S CAPITAL IYOBOSA UWUGIAREN MANAGING EDITOR JOSEPH USHIGIALE
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Why Health Is Wealth
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rowing up you might have heard the term ‘Health is Wealth’, but its essential meaning is still not clear to most people. Generally, people confuse good health with being free of any kind of illnesses. While it may be part of the case, it is not entirely what good health is all about. In other words, to lead a healthy life, a person must be fit and fine both physically and mentally. For instance, if you are constantly eating junk food yet you do not have any disease, it does not make you healthy. You are not consuming healthy food which naturally means you are not healthy, just surviving. Therefore, to actually live and not merely survive, you need to have the basic essentials that make up for a healthy lifestyle. If you wish to acquire a healthy lifestyle, you will certainly have to make some changes in your life. Maintaining a healthy lifestyle demands consistent habits and disciplined life. There are various good habits that you can adopt like exercising regularly which will maintain your physical fitness. It also affects your mental health as when your appearance enhances, your confidence will automatically get boosted. Further, it will prevent obesity and help you burn out extra fat from your body. After that, a balanced diet is of great importance. When you take appropriate amounts of nutrition, vitamins, proteins, calories and more, your
stablished in 2000 by the then President Olusegun Obasanjo administration, the NDDC was charged with facilitating the rapid, even and sustainable development of the Niger Delta into a region “that is economically prosperous, socially stable, ecologically regenerative and politically peaceful.” The commission’s mandate area is comprised of the nine oil producing states of Abia, Akwa Ibom, Bayelsa, Cross River, Delta, Edo, Imo, Ondo, and Rivers. Sadly, while the NDDC has a comprehensive master plan and hundreds of billions of naira have been spent over the past 19 years, there is little on ground to justify the investment. Indeed, the report of the presidential committee on project execution covering the period between 2005 and 2011, is very revealing of the extent of rot in NDDC. The report monitored a total of 609 projects spread across three states – Cross River, Edo and Rivers. While there is no clear information about the forensic audit that was supposed to have been conducted on the activities of the previous management, an interim board without any clear mandate or authority, as we keep warning on this page, is a recipe for unwholesome practices as available reports now indicate. If we must entrench a culture of transparency and accountability in the affairs of the commission, it is important to have a substantive board in place rather than leave it to the whims of an overbearing minister. Besides, operating outside the law to impose an interim board with elastic mandate is clearly unacceptable. If the president cannot constitute a board for the commission, he should accede to the request of the South-South governors by putting its funds in an escrow account.
immune system will strengthen. This will, in turn, help you fight off diseases powerfully resultant in a disease-free life. Above all, cleanliness plays a significant role in maintaining a healthy lifestyle. Your balanced diet and regular exercise will be completely useless if you live in an unhealthy environment. One must always maintain cleanliness in their surroundings so as to avoid the risk of catching communicable diseases. As it is clear by now, good health is a luxury which everyone wants but some of them cannot afford. This point itself states the importance of a healthy lifestyle. When a person leads a healthy lifestyle, he/she will be free from the tension of seeking medical attention every now and then. On the contrary, if you have poor health, you will usually spend your time in a hospital and the bills will take away your mental peace. Therefore, a healthy lifestyle means you will be able to enjoy your life freely and, when you have a relaxed mind at all times, you will be able to keep your loved ones happy. Moreover, a healthy lifestyle will push you to do better in life and motivate you to achieve higher targets. It usually happens that people who are extremely wealthy in terms of money often lack good health. This just proves that all the riches in the world will do you no good if there is an absence of a healthy lifestyle. Mary Atuwele, atuwelemary@gmail.com
On Foggy Country Road
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e found ourselves oppressed in a dangerous darkness of silence, moving into the invisible cloudy road that leads to an unknown destination. We caught the glimpse of a foggy country road, submerged with challenges in the race of excellence. The sound of the wind kept us connected and shelter us in the train of peace, which took off from the station and finding his way to an unknown destination. History moves around at tremendous speed, as memories are sprouting from a leaving story. When hope becomes our everyday mantra, we got tired because nothing is changing, but getting worse. The country road we dive into without navigation is leading us to a destination that history could not thought about it nor appreciate it. This has been a nightmare, a scary nightmare under the visions of those that have the ability to wake up the nightmare. If those that are responsible to bring change could not devour and provide a peaceful atmosphere to the citizens, how can they rule? The society and nature are angry
with us, because we could not afford to give them what they need. Our environment changes from what we then know or heard of, but yet there was something deeper than those changes that frightened us. Without it, all what we do or could be done will become like a dead seedlings sowed into the soil for some periods, but those seedlings will not germinate because it lacks some vital features that leads to its death. This kind of seed cannot be grown nor harvested. It is hard to say exactly how we lost peace in our country, something the mind could not thought about or the eyes visualize. This was the beginning of our burning time, when we lost peace. It was a season of dreadful speculations, crime becoming real, consequences of sin were visible everywhere, in every fight, robbery, school children abducted, suicide bombers, farmers slaughtered, kidnapping, banditry, and all forms of criminal act. This has been our foggy country road, leading to unknown destination. There is a vast amount of confusion, we don’t know when we left the good country road. Isah Aliyu Chiroma, aliyuisahchiroma29@gmail.com
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MONDAY MARCH 15, 2021 •T H I S D AY
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T H I S D AY ˾ MONDAY MARCH 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
Fighting for Minimum Wage on Its Own Steam Adedayo Akinwale writes that the recent protest by the labour movement against the decentralization of minimum wage structure has failed to garner expected support
Gbajabiamila
Ayuba
Fayemi
Wase
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The lawmaker while leading the debate at the plenary said the proposed alteration to the Constitution would inch the country closer to true federalism by devolving power from an overburdened centre to the component states. The lawmaker pointed out that every attempt to stipulate the national minimum wage has always been controversial. He said there was no propriety in the Federal Government imposing a national minimum wage when the resources available to the Federal Government are at variance with those available to the states or each state. Muhammad added that the resources available to the states also differ and while some states may be able to afford the national minimum wage, others may not. He stressed that even within the states, the resources available to the local government councils also vary, but they are also subjected to the national minimum wage. The lawmaker noted that the attempt to bring the minimum wage up to N18,000 was met with vehement opposition by many of the states, who insisted they dio not have the resources to pay; while some of them had not been paying when the national minimum wage was then raised to N30,000 again with
many states vehemently opposing it. Muhammaed recalled that under the Independence and 1963 Constitutions, prescription of minimum wage was a concurrent matter to be legislated upon by both the federal parliament and the states. He further argued that decentralised minimum wage is justifiable on the basis of several socio-economic variables - local peculiarities — differences in the cost of food, the cost of transportation, the cost of children’s education, the cost of healthcare services, rent or the cost of housing, adding that all these vary from place to place and from state to state. Muhammad added: “To address one critical concern, this decentralisation of the prescription of the minimum wage does not shut the door on labour from negotiating. “What it means is that labour will have to negotiate with each state to ensure that the minimum wage in each state is reasonable in the circumstances of that state. Labour already has experience of this as usually, in the aftermath of every minimum wage review, it has to engage in protracted negotiations with individual states over consequential wage adjustments, amongst others.”
Contributing, Hon. Uzoma-Nkem Abonta, said the Bill was one of the finest bills that the 9th Assembly is considering, stressing that minimum wage as enshrined in the constitution now is evil. On his part, Hon. Sada Soli, described the bill as very progressive and dynamic, adding that every jurisdiction should determine what it can pay its workers. He said If Nasarawa State should come to collect its allocation which is not up to that of Rivers State, the salaries and wages commission should not determine how much Nasarawa state pays it workers. But, Hon. Ibrahim Namdas, in his contribution, said he was very cautious of the bill, saying there was a need for the House to protect vulnerable Nigerians by not giving unfettered licences to the states. In his contribution, the Deputy Speaker, Hon. Ahmed Wase, said the House should be cautious in passing the Bill, in order for common Nigerians not to be at the receiving end.
ince the country returned to civil rule in 1999, there has been increasing agitation for a functional federal system in the country, otherwise referred to as ‘true federalism’. The reason is not far fetched, many believe that the 1999 constitution was bequeathed to the country by the military, hence the need to have a new constitution. Expectedly, the apparent defects in the present federal system as it were, no doubt, provides the basis for this agitation. Though, on paper, Nigeria is operating a federal constitution but in practice the country works as a unitary state. Over the years, there seems to be a consensus, especially in the southern part of the country that the operation of federalism in Nigeria does not conform to the fundamental principles of federalism. Every now and then, there has been clamour by the leaders from the south of the country to restructure and devolve more powers to the states. The leaders of the South-west region have even canvassed that the country returns to the 1963 constitution, where the constitution devolves more powers to the regional governments, but the argument was faulted by their northern counterpart. Not until recently, when insecurity in the country has become unbearable and the north has now joined the call for state police, the nothern region was previously against the call to restructure the country. The stance of the North against restructuring over the years has made the South accused it of being the beneficiary of the faulty quasi-federal system in the country. However, since the return of democracy, two constitutional conferences have been held to address the lacuna in the present constitution and even the present system of government, but lack of trust among the various ethnic groups have ensured that the problems remain. Even, the various constitutional amendments by the National Assembly have yielded no result either. As such, the Nigerian model of federalism has remained a reflection of an incomplete federal arrangement. Devolution of more powers to States Nevertheless, as part of an effort to devolve more powers to the states, the House of Representatives recently commenced the move to strip the federal government of the power to prescribe and decide the national minimum wage for the country by transferring it from the exclusive legislative list to the concurrent list, by way of Bill. The Bill sponsored by Hon. Garba Muhammad is aimed at amending Item 34 of the Exclusive Legislative List which places the subject of prescribing the national minimum wage within the exclusive legislative competence of the National Assembly by virtue of Section 4(2) and (3) of the Constitution.
The union argued that National Minimum Wage as embedded in the constitution is an internationally recognised standard which has the endorsement of the United Nations, through its agency, International Labour Organisation (ILO). Therefore, the Nigeria Labour Congress (NLC) last Wednesday organised a one-day protest during which they marched to the National Assembly complex in Abuja and the State Houses of Assembly across the country. Speaking at the protest organised by the NLC and the Trade Union Congress (TUC) at the National Assembly complex in Abuja, the President of NLC, Mr. Ayuba Wabba, said that over 33 federating nations, including the United States of America, have their Minimum Wage on the exclusive list. Moving the national minimum wage from the exclusive to the concurrent list is a declaration of war on Nigerian workers. How can we degenerate to remove the issue that workers have earned through hard labour for 40 years overnight? The problem of Nigeria, we have said in essence, is the issue of good governance.That is why we are here. These are all well documented in the documents that we will present to the leadership of the National Assembly,” he argued.
Labour’s deft move against devolution of power Meanwhile, the organised labour advanced some genuine reasons why minimum wage structure should not be decentralised vowed to call out its members on a nationwide indefinite strike should the National Assembly go ahead with the bill. The union argued that National Minimum Wage as embedded in the constitution is an internationally recognised standard which has the endorsement of the United Nations, through its agency, International Labour Organisation (ILO). Therefore, the Nigeria Labour Congress (NLC) last Wednesday organised a one-day protest during which they marched to the National Assembly complex in Abuja and the State Houses of Assembly across the country. Speaking at the protest organised by the NLC and the Trade Union Congress (TUC) at the National Assembly complex in Abuja, the President of NLC, Mr. Ayuba Wabba, said that over 33 federating nations, including the United States of America, have their Minimum Wage on the exclusive list. “Moving the national minimum wage from the exclusive to the concurrent list is a declaration of war on Nigerian workers. How can we degenerate to remove the issue that workers have earned through hard labour for 40 years overnight? The problem of Nigeria, we have said in essence, is the issue of good governance.That is why we are here. These are all well documented in the documents that we will present to the leadership of the National Assembly,” he argued. Wabba said that workers have given the leadership of organised labour the mandate to declare nationwide strike if the right thing is not done.
T H I S D AY ˾ MONDAY MARCH 15, 2021
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MONDAY DISCOURSE
Yahaya
Ngige
Doguwa
Bello
The NLC President said state governors are collecting the same salary across the country, the same with the state and National of Assemblies as well as the councillors. Hee added: ”So, why is the case of workers different, if it is the issue of ability to pay? Governors also collect humongous amount as security votes that have not been used to address security challenges in Nigeria. If we address this, we will have enough to pay the minimum wage. It’s a national benchmark”. On his part, the TUC president, Mr. Quadri Olaleye urged the National Assembly to lead by example. “If the National Assembly must take that the decision, all the executives should go back to their local government to collect their salary, according to their local government revenue generation,” he said
adding that federalism should be total. Bello said, “The strength of Rivers State today financially cannot be compared with Gombe State. The capacity of Rivers State to pay is not the same as Gombe State. The capacity of the Federal Government to pay is not the same. Really, if we want real federalism, the federating regions should have their liberty to negotiate with their workers, draw their condition of service and not make it uniform. Because when you say everything is drawn by the federal government, that is a unitary system of government, isn’t it? That is my own understanding of this.” The chairman noted that there was nothing wrong in consultation between various levels of government in terms of what to pay as minimum wage, adding that the federal government has more financial muscle because of what is accrued to it from the federation account, compared to States and the local government. He added: “Should we insist that whatever the federal government should pay, Gombe State should pay, my local government should pay? Whether we have the capacity to pay or not. So, if we are going to do federalism, let us do federalism, it includes financial federalism as well. “Honestly speaking, the labour movement needs to appreciate this as an argument, nobody can stop them agitating for that, but you see if it is an informed discussion, that is what I see you in the press should lead. Are we talking about real federalism? That
is what everybody is singing, isn’t it? We want federating states to have independence in what they do “We cannot be singing this mantra and at the same time working towards a unitary system of government. Because I believe the idea of the federal government negotiating salary with all the tiers of government is not in sync with federalism.” On his part, the Director General of Progressive Governors Forum (PGF), Dr. Salihu Lukman, described the threat by the NLC to embark on a strike over the move by the legislature to move the minimum wage from Exclusive List to Concurrent List as needless and a cheap blackmail. Lukman said the current centralised framework which includes retention of a faulty constitutional provision such as the provision of item 34, Part 1 of Second Schedule of the 1999 Constitution, as amended was no longer sustainable. He stated: “As it stands, item 34 of Part 1 of the Second Schedule is not sustainable and could only expose Nigerian workers to greater risks and danger. Being conversant with internal logic influencing leadership thinking in the Nigerian trade movement, it is quite worrisome that NLC is approaching these matters less objectively.” Lukman said that it might be convenient for the leadership of NLC to retain the current centralised framework, but added that the Union leaders have weakened themselves so much that their negotiating power is hardly oriented based on knowledgeable disposition
about workers input in the production process. Lukman noted that there was hardly any attempt to provide any justification of why minimum wage should be retained in the Exclusive List or the disadvantages of establishing a State Judicial Council beyond some claims to entitlements and condemning people promoting these changes. He added that the only weapon the labour leaders seem to use so often to win concessions and agreements is strike. Lukman stated: “Today, we have a minimum wage of N30,000, which unions have been unable to achieve in many states and many private sector establishments. In fact, even at the time of negotiating the minimum wage of N30,000, there were problems of getting the old minimum wage of N18,000 in many states and private establishments implemented. Some of the states that were able to implement the minimum wage are barely surviving.” The Director General said elementary analysis would caution about the consequence of continuing with a centralised framework for minimum wage legislation based on using the financial capacity of the federal government to fix national minimum wage that is hardly informed by economic indices of work output across the country and reflecting all sectors of the economy. He stressed that a major difficulty is that the labour movement represented by NLC and TUC are operating a centralised model of organisation whereby every issue regarding labour relations is concentrated at national level, saying it has inadvertently weakened the capacity of state councils of both NLC and TUC to successfully negotiate issues affecting workers at State levels. Lukman stressed that against all these, he said one wonders, what is the position of NLC regarding all the debate on True Federalism. He stated: “The protest will not stop the National Assembly from considering bills that have to do with decentralising the minimum wage structure. We are not saying they should not protest but this protest is needless. I can guarantee that it is not going to stop the process in the National Assembly. It is not also going to take away the issue. “We need to work with them to develop this democracy and we can only do that if every constituent unit and citizens in those units can negotiate with the constituent governments and get results. As it is, we are all frustrated and that is what we should be addressing. This ‘we against them’ that labour is creating does not exist. We should be applying ourselves to resolving the problems of this democracy. There are fundamental problems bigger than we can imagine.” None of the major socio-political groups in the country including Afenifere Renewal Group, Northern Elders Forum, Ohaneze Ndigbo, Middle-Belt Forum, Pan Niger Delta Forum (PANDEF) has given the labour movement a part on the back on its latest move to derail the effort by the National Assembly to devolve more powers to the States. Whether the House of Representatives will allow itself to be stampeded, boxed into a corner and blackmail by the labour movement from the best noble idea it has initiated for the first time in a long time remains to be seen. It however appears that the labour movement is in this fight alone as sympathy is not coming from any section of the country to back its effort to tie Nigeria to the apron string of feeding-bottle federalism.
House to address labour’s grievances The Majority Leader, Hon. Hassan Doguwa, while receiving the protest letter on behalf of the Speaker of the House, Hon. Femi Gbajabiamila commended the organised labour’s leadership for expressing their grievances in the right quarter. He said, ”I want to say that we have accepted the letter presented to us by the organised labour and I want to assure you that we will give it the right treatment. We will also provide the window for the people to come and present their grievances through the public hearing.” The lawmaker explained that the bill in contention is only a proposal, adding that it is quite obvious that the organised labour is against that bill. “If you are against that bill, you are right and you have every reason to be against that bill. I want to assure that the House of Representatives will see and give a listening ear to your grievances. We will still invite you to come and engage with relevant committees to make your contributions.” Governors react In its reaction, the Nigerian Governors’ Forum (NGF) accused the Federal Government of negotiating minimum wage with NLC and trying to impose it on states. The governors warned that the Federal Government cannot impose its salary structure on them giving the differentials in their revenues. Chairman of the Forum and Governor of Ekiti State, Dr. Kayode Fayemi, faulted how the Federal Government is treating the subnationals under a supposed federal system of government. A statement by the NGF’s Head of Media and Public Affairs, Mr. Abdulrazaque Barkindo, said Fayemi spoke when the Committee of Pro-Chancellors of state-owned universities visited him in Abuja. He described governors as victims of the Federal Government’s unitary approach to a federal structure. Fayemi said: “You can’t impose a federal salary structure on states because we do not all have the same economic or financial situations. I, for example, do not have the resources of Lagos State; so, you won’t expect me to earn the same salary as the governor of Lagos.” Political analysts react The National Chairman of Peoples Redemption Party, Mr. Falalu Bello, said the centralised minimum wage structure was not in sync with true Federalism. He said the country cannot talk about federalism and be selective on what is federalism,
The National Chairman of Peoples Redemption Party, Mr. Falalu Bello, said the centralised minimum wage structure was not in sync with true Federalism. He said the country cannot talk about federalism and be selective on what is federalism, adding that federalism should be total. Bello said, “The strength of Rivers State today financially cannot be compared with Gombe State. The capacity of Rivers State to pay is not the same as Gombe State. The capacity of the Federal Government to pay is not the same. Really, if we want real federalism, the federating regions should have their liberty to negotiate with their workers, draw their condition of service and not make it uniform. Because when you say everything is drawn by the federal government, that is a unitary system of government, isn’t it? That is my own understanding of this.” The chairman noted that there was nothing wrong in consultation between various levels of government in terms of what to pay as minimum wage, adding that the federal government has more financial muscle because of what is accrued to it from the federation account, compared to States and the local government. He added: “Should we insist that whatever the federal government should pay, Gombe State should pay, my local government should pay? Whether we have the capacity to pay or not. So, if we are going to do federalism, let us do federalism, it includes financial federalism as well.
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POLITICS
APC National Chairmanship Campaign Gathers Momentum in Nasarawa
Igbawase Ukumba reports that stakeholders of All Progressives Congress in Nasarawa State have begun campaigning for the chairmanship seat of the party in the forth coming national convention
Buhari
Sule
Al-Makura
Tinubu
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other strong opposition parties; and Senator Umaru Tanko Al-Makura who lifted the flag of the party high was the political commodity for the bargain. It is therefore a precise disposition to say that the Distinguished Senator Al-Makura is best qualified for the National Chairmanship position of the APC.” It is well known in the anals of Nigeria political history that some strong opposition political parties in the country; the Action Congress of Nigeria (ACN), Congress for Progressive Change (CPC), All Nigeria Peoples Party (ANPP) and a faction of the All Progressives Grand Alliance (APGA) made a decisive decision, merged and formed what is today known as the All Progressives Congress [APC]. The then chairman of ACN merger committee, Chief Tom Ikimi precisely on February 6th, 2013 at a conference in Abuja, told the world that the merger talks were successful. Other Chairmen of the merger committees were former governor of Kano State, Mallam Ibrahim Shekarau of the ANPP, Garba Shehu led the CPC bloc and Senator Annie Okwonkwo represented the APGA’s faction. Chief Ikimi said the progressives came together for a more formidable democratic force to wrestle power from the then ruling Peoples Democratic Party (PDP). According to him, “the merger parties promised to uphold the principles of internal democracy.” Chief Ikimi’s text read in parts, ‘’At no time in our life has radical change become more urgent. And to meet the challenge of that change, we the following progressive political parties, namely ACN, ANPP, CPC and APGA have resolved to merge forthwith and become the All Progressives Congress (APC) and offer to our beleaguered people a recipe and prosperity.” “We resolved to form a political party committed to the principle of internal democracy, focused on serious issues of concern to our people, determined to bring corruption and insecurity
to an end, determined to grow our economy and create jobs in their millions through education, housing, agriculture, industrial growth, etc and stop increasing mood of despair and hopelessness among our people.’’ The APC’s journey to wrestle power from the ruling PDP was not a smooth one. There were political persecutions and sacrifices. Indeed, it was a journey on the road of thorns and bumps with deep valleys and stony hills with uncertainties. For instance, after the merger, prominent pillars in the exercise, like Chief Ikimi, Shekarau among others defected to the ruling PDP. Some PDP chieftains described the merger as a marriage that would end in divorce for no reason. Rumours spread quickly that Buhari and Tinubu’s presidential ambition would collapse the merger. But this was not to be as the force of Tinubu ‘the king maker’ and Buhari’s strength of character waxed the APC stronger. It was also a challenge for the party when two political associations, the African People’s Congress and All Patriotic Citizens that applied to INEC for registration also adopted APC as their acronym. However, internal crisis within the PDP boosted the APC. When the PDP crisis remained unresolved, big wigs in the party, the likes of Rotimi Amaechi of Rivers State, Rabiu Kwankwaso of Kano State , Aliyu Wamako of Sokoto State, Abdullahi Ahmed of Kwarra State and Murtala Nyako of Adamawa State defected to APC. It is also on record that on January 29, 2014 Senators Bukola Saraki, Abdullahi Adamu, Mohammed Ndume and Danjuma Goje were among the 11 National Assembly legislators that defected to APC. Be that as it may, travelling the rough way notwithstanding, the APC made history during the 2015 general elections as it wrestled and took over power from the PDP that ruled the country for 16 years. In 2011, CPC started the hard journey of wrestling power from an incumbent governor
in Nasarawa State. Thus, Senator Umaru Tanko Al-Makura, when his political ambition to govern Nasarawa State on the platform of the PDP hit the wall, he took the rough way. After the Nasarawa North Senatorial District of the PDP rally held in Akwanga on Saturday March 13, 2010, the handwriting on the wall was clear that free and fair internal democracy will not come to playAl-Makura’s way and he immediately defected and rooted for CPC in the state. Unlike the case of APC where forces of the opposition came together and fought a fierce battle, CPC had no marriage of convenience with any other political party in the Nasarawa State but the masses supported the wind of change. Courageous Al-Makura fought the Goliath/David battle in 2011 general elections and defeated PDP in the gubernatorial election in the state. As the only CPC controlled state in the country, Al-Makura no doubt faced a lot of challenges making some to suggest that he decamp to the ruling PDP at the center. The situation was a very challenging one with his only four CPC legislators, out of the 24 state lawmakers. Reference was made to how the second Republic Governor of former Kaduna State of the Peoples Redemption Party (PRP), Alhaji Balarabe Musa was impeached by the National Party of Nigeria (NPN) dominated lawmakers on June 23, 1981. But Al-Makura gave no listening ear to the suggestion to leave CPC to his former party, the PDP, rather he said his CPC administration would not compromise on its resolve to continue to intervene on discrepancies that has bedeviled the state since its creation in 1996. Senator Al-Makura’s rigid stand on issues that have direct bearing on the electorate caused him political persecution, yet he provided purposeful leadership. Today because of this meaningful leadership the Nasarawa State federal lawmaker provided for the state in eight years, he has the appendage of ‘’Architect of modern Nasarawa State” attached to his personality. Former President Goodluck Jonathan affirmed this when he commissioned the Olam Rice Farm at Rukubi, Doma Local Government Area of the state in July, 2014. Former President Jonathan said: ‘’Al-Makura created investors friendly environment to attract development to the state.” This was why impeachment bid against AlMakura by PDP state legislators dominated house in 2014 triggered state wide protests by the masses. Through good governance, former Governor Al-Makura won the heart of the opposition parties in the state. Even those who signed for his impeachment while in office as governor are today publicly defecting to APC and defending the cause of the party in the state and the country at large. One of the defectors said, ‘’The only way we can show gratitude to a progressive government, a development oriented government, a government that likes the people is to join the APC and be part of greater Nasarawa State and Nigeria.’’ Nevertheless, political analysts in the state were of the opinion that for the APC’s political net to catch big fishes like former speaker of the state House of Assembly, Rt. Hon. Musa Ahmed Mohammed and former Nigeria ambassador to Poland, Sam Jimba, all of the PDP among others, Nasarawa State needs consideration and reward from the founding fathers/pillars of the APC.
gain, Governor Abdullahi Sule of Nasarawa State has appealed to the hierarchy of the ruling All Progressives Congress (APC) to consider the Congress for Progressives Change (CPC) and Nasarawa State in the choice of the party’s next National Chairman. Sule made the appeal during a grand reception in honour of defectors from the Peoples Democratic Party (PDP), All Progressives Grand Alliance (APGA), Zenith Labour Party (ZLP) and prominent sons and daughters of Mada ethnic nationality from the Western Senatorial zone, in Keffi, headquarters of Keffi Local Government Area of the state. Governor Sule had in February this year, 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 the state, pleaded with Nigeria to be kind to CPC, as Nasarawa State was the place to look at when chosing the next national chairman of the APC. In Gudi, the governor specifically called on the national leadership of the APC to consider the CPC, being the only legacy party that was yet to produce the national chairman of the party. He equally appealed to the party leaders to consider Nasarawa State because it was the only state that provided the CPC a platform leading to the merger in 2013 that gave birth to the APC. Sule said, “Two of the legacy parties; ACN and ANPP each produced two national chairmen of the APC. The only legacy party that is yet to produce the national chairman is the CPC. Once the CPC is allowed to produce the next chairman of the APC during its forthcoming national convention, it’s only fair to consider Nasarawa State.” Consequently, Sule emphasized that the immediate past governor of the state, Senator Umaru Tanko Al-makura, played a critical role leading the then CPC into the merger which brought about the APC. Perhaps, it was a timely call by the Nasarawa State governor, Abdullahi Sule, to make a passionate appeal to the All Progressives Congress (APC) to consider the North Central Geo-Political Zone of the Nigeria, particularly Nasarawa State, for the National Chairmanship seat of the party in the forth coming national convention of the APC. Thus, Governor Sule’s argument for zoning of the APC’s national chairmanship position to the North Central zone of the country, particularly Nasarawa State, was described by some stakeholders in the state as valid. The stakeholders contended that it was not about sentiment or personality, but North Central and Nasarawa State. Nevertheless, the Nasarawa State APC Caretaker Committee Chairman , John D.W Mamman, also shared a similar view that the slot of the National Chairmanship of the APC be given to Nasarawa State. Mamman who spoke to journalists in Lafia said among the parties that gave birth to APC , it was only CPC that was yet to enjoy the National Chairmanship position of the ruling APC . According to Mamman: “For justice and fairness, what goes around should come around. Nasarawa State was the only political collateral the Congress for Progressives Change (CPC) had that qualified it for round table talks with
As the only CPC controlled state in the country, Al-Makura no doubt faced a lot of challenges making some to suggest that he decamp to the ruling PDP at the center. The situation was a very challenging one with his only four CPC legislators, out of the 24 state lawmakers. Reference was made to how the second Republic Governor of former Kaduna State of the Peoples Redemption Party (PRP), Alhaji Balarabe Musa was impeached by the National Party of Nigeria (NPN) dominated lawmakers on June 23, 1981. But Al-Makura gave no listening ear to the suggestion to leave CPC to his former party, the PDP, rather he said his CPC administration would not compromise on its resolve to continue to intervene on discrepancies that has bedeviled the state since its creation in 1996. Senator AlMakura’s rigid stand on issues that have direct bearing on the electorate caused him political persecution, yet he provided purposeful leadership. Today because of this meaningful leadership the Nasarawa State federal lawmaker provided for the state in eight years, he has the appendage of ‘’Architect of modern Nasarawa State” attached to his personality
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FEATURES
Group Features Editor: Chiemelie Ezeobi Email chiemelie.ezeobi@thisdaylive.com, 07010510430
Disease Prevention Budget and Need for Full Release In Nigeria, it is one thing to approve budgetary allocations for the various ministries, departments and agencies, yet it is another thing for such allocations to be released in full. With the Nigeria Centre for Disease Control allotted an otherwise small amount for the entire 2021 despite the enormous work before it, including the management of COVID-19, Lassa Fever and the looming resurgence of Ebola Virus Disease in nearby African countries, Martins Ifijeh writes that there is need for the proposed allocation to be released in full and as at when due
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ast year, not many ministries and agencies of the Nigerian government got up to 50 per cent of their budgetary allocations at the end of the year. For some, the most they got was 30 per cent for the entire year, while some lucky few got up to 60 per cent, which on the surface value means these government bodies were presumed to only meet 30 to 60 per cent capacity of what was expected of them for 2020. In general, indications even showed that only about 54 per cent of the national budget of N10.59 trillion was released for the entire year by the government, which represents just a little below N6 trillion for 2020. While many may argue that the poor release of funds by the government in 2020 was due to COVID-19 lockdown and the inactivity caused by restrictions and the stay-at-home order of the federal and state governments, indications show that since the return to democracy in 1999, the pattern has been the same; a habit that has affected the nation negatively in no small measure leading to an almost predictable outcome whereby some sectors of government only end up spending their meager released allocation on powering generators and running impresses as against the type of engagements and developments expected of them when the proposed budgetary allocation was made. For the Nigeria Centre for Disease Control (NCDC), which in recent times has become one of the most important agencies of government considering its role in addressing the present COVID-19 pandemic and securing national health for the over 200 million inhabitants in the country, experts believed it is a no brainer that every budgeted allocation to the agency in 2021 is released as at when due and in full; as this would represent a consolation that despite the allocation not being the ideal budget for a country’s centre for disease control, the little allotted funds get to the agency and is utilised as designed. To be clear, this year, the federal government approved N1.4 billion as the capital budget for NCDC, representing a significant increase from last year’s budget of N700 million. But despite the increase, it is believed the amount will be insufficient to run the generators in one of the centre’s laboratories let alone running the entire agency for a full year. Sharing his thoughts on the need for full release of all budgeted allocations for disease prevention and management this year, an epidemiologist and public health analyst, Dr. Rufus Ogbejiele is of the opinion that no matter what the government does this year, it must not starve the organisation in charge of national health security of its allotted funds, stressing that a little strain in funding could spell doom for the nation. Ogbejiele told THISDAY in an interview that, although it was commendable that the federal government increased the agency’s budgetary allocation by almost 100 per cent, the present budget was too small for the agency; hence the need to, at the least, ensures that it is released and utilised to the fullest. He said: “We live in a country where many governors and their legislative houses are still at a loss to why they should fund disease prevention and control. They don’t see the need to fund a project that appears abstract. It is not a road or bridge project, so they still find it difficult to invest in what they presume isn’t an infrastructural development they can point to as an achievement when they leave office. This is one reason the federal government must ensure the little it has budgeted is released and as at when due, because only few states like Lagos, Kaduna, Edo, Rivers, among others would cushion federal government’s efforts in preventing
With adequate funding, every Nigerian can have a shot at life
Buhari
Ihekweazu
and managing disease outbreaks. “You can see what is happening in Kogi State where the governor has continued to play down on the presence of COVID-19 in his state. Such a governor will not fund COVID-19 prevention and management because he does not believe the disease exists. There are many other governors like him, but for fear of being criticised they have refused to publicly tow the path of Kogi governor, Yahaya Bello. And unfortunately, if anything goes wrong in these states, it will be counted as a minus for NCDC because their mandate cuts across all states. States should support efforts of federal agencies working against the tide to make the country’s health secure.” He called on state governments to set aside certain amounts for disease prevention and control, noting that if epidemic hits states, it would in turn affect their economy, as well as smooth running of the states. Recall that last year, the federal government
budgeted a meager N1, 673, 486, 127 for the nation’s health security; an amount it magically hoped was enough for epidemic preparedness, detection and response to infectious disease outbreaks and public health emergencies for the entire population, and across the 36 states of the federation, including the Federal Capital Centre (FCT). Save for the emergency funding released by the government and support from various bodies, especially the Coalition Against COVID-19 (CACOVID) for tackling COVID-19, the country would have been overwhelmed when the pandemic hit it. Per adventure the entire money was released in 2020, it would mean the Nigerian government spent eight naira per person last year, which amounts to 66 kobo per month, an unrealistic amount it magically hoped would have prevented Nigerians from contracting or dying from the myriads of epidemics currently being battled or lurking around the corner. Meanwhile, NCDC’s counterpart in the
United States, the Centre for Disease Control (CDC) last year spent $6.594 billion on epidemic preparedness, which is about N2.34 trillion, an amount that exceeds Nigeria’s entire Federal Ministry of Health allocation for five years. This means, if the CDC budget was spread across the population, the centre must have spent at least 20 dollars (N7, 200) on epidemic preparedness for every American resident, while Nigeria, a country which prides itself as the giant of Africa and the economic hub of the black continent, spent eight naira on same disease prevention and management in a full year per citizen. All enquiries made to the Director General of the NCDC, Dr. Chikwe Ihekweazu to ascertain how much of the allotted amount got to the agency last year proved abortive as he did not respond to the request made by THISDAY to him. In a previous interview, Chikwe had said that although the 2021 allocation to the agency was a sharp increase from previous years, the agency was still running against the tide. He said: “The NCDC’s budget was increased from a very low base. Our budget (capital) last year was N700 million; it was increased to over N1.4 billion but even with that, we are still not able to run the generators in one of our labs sufficiently. We need sustainable investment for Nigeria’s health security. We are in an existential crisis in terms of funding. The only reason we are able to do this work is that we get a lot of support from partners and sometimes extra budgetary funding when there is a crisis such as this COVID-19 pandemic. But this is not sustainable; we really need to invest more in health security. There is no other way around it,” he said. Just as Nigeria’s president, Muhammadu Buhari had recently said this year he was going to take the country’s security as a priority, his government should also know that national health security is a core part of national security. It should be given the same priority too.
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BUSINESSWORLD R A T E S MONEY MARKET OVERNIGHT OBB
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REPO 16.33 15.33
CALL 1-MONTH 3-MONTH
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Group Business Editor Obinna Chima
Email obinna.chima@thisdaylive.com 08152447875
M A R C H
S & P INDEX INDEX LEVEL 1-DAY MONTH-TO-DATE
564.82% -0.14% -0.14
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EXCHANGE RATE N379/1US DOLLAR* ̩
Quick Takes BUA Donates N200m to Sokoto University
COURTESYVISIT
L-R: Vice President, Lagos Chamber of Commerce and Industry (LCCI), Mr. Gbenga Ismail; Acting Chief Trade Negotiator, Nigerian Office for Trade Negotiations,Mr.VictorLiman;President,LCCI,Mrs.TokiMabogunje;SecretaryGeneral,AfricanContinentalFreeTradeAgreement(AfCFTA),Mr.Wamkele Mene;and DirectorGeneral,LCCI,Dr.MudaYusuf,duringthevisitofAfCFTA‘sSecretaryGeneraltothechamberinLagos…recently ETOPUKUTT
All-Share Index Falls 1.7% as Demutualisation Fails to Lift Market Goddy Egene The stock market recorded its sixth consecutive decline last week with the Nigerian Stock Exchange (NSE) All-Share Index (ASI) declining by 1.74 per cent to close at 38,648.48, while market capitalisation shed N357.4 billion to be at N20.221 trillion. Investors continued to take profit from high valued stocks in spite impressive performance from earnings releases. Also, the news of the completion of the NSE’s demutualisation that hit the market on Wednesday failed to sway investors’ sentiment to positive territory as they await further clarification on how the market would benefit from this
CAPITAL MARKET development. According to a stockbroker and Chief Executive Officer of CEO, Sofunix Investment and Communications, Mr. Sola Oni, “some investors may adopt wait and see attitude due to lack of understanding of the benefits while nervous ones will not hesitate to sell off their stocks.” He said the NSE would need to do a lot more on public enlightenment on the benefits of the demutualization for them to understand better. Speaking on the corporate earnings, Oni said while some have announced outstanding performance with strong dividend payout, others have posted
unimpressive earnings with a deep reduction in dividend. “For instance, dividend policy of one of the major banks is currently a subject of controversy among shareholders and other stakeholders. Increased yields on fixed income securities has also dampened investor confidence in equities as astute investors will compare dividend yield with returns from other asset classes. This becomes important in this regime of double digit inflation and negative returns,” he said. He explained that the Central Bank of Nigeria is deploying different strategies to address the issue of forex scarcity but forex scarcity remains a major concern for foreign portfolio investment who trade large
volumes. “There is so much uncertainties in the economy. At the weekend, pump price of petrol has ushered in another level of fears. However, smart investors always take advantage of bearish trend to invest more in blue chip companies whose shares are trading below intrinsic values. The good thing is that market fundamentals remain strong,” he said. Meanwhile, investors traded 1.675 billion shares worth N23.541 billion in 21,732 deals last week compared with 2.092 billion shares valued at N29.744 billion that exchanged hands in 24,238 deals the previous week. The Financial Services IndusContinued on page 24
Nigerian philanthropist and industrialist, who is the Founder/Chiarman, BUA Group, Abdul Samad Rabiu, has donated N200 million to Sokoto State University towards the construction of an information technology (ICT) Faculty Building. This donation will support the university’s quest to becomeoneofNigeria’sbestuniversitiesproducingtalentintheICTspace. Rabiu said that Sokoto State is host to three of BUA Cement’s factories and over the years, the state had played a huge role in the growth and success of the company, noting that it was therefore of critical importance that BUA supports the development of talent in future-proof industries for the state such as ICT, research and education. This donation was announced during the University’s 2021 Convocation ceremony in Sokoto where Rabiu alongside two others - His Highness, The Emir of Dutse, Alhaji (Dr.) Nuhu Muhammad Sanusi and the Late Alhaji Umaru Ali Shinkafi were conferred with Honorary Doctorate Degrees for their contributions towards the development of Sokoto State and Nigeria in various fields. Whilst responding to the donation, the Governor of Sokoto State, Rt. Hon. AminuTambuwal, thanked for Rabiu for the donation and his commitment towards philanthropy. He also commended BUA’s contributions towards the socio-economic development of the state and urged others in the same position to emulate him. Tambuwaladdedthatthestatewouldcontinuetocreateanenablingenvironment for businesses like BUA to thrive and enjoined other corporates to come and invest in the state. According to him, BUA had built an endearing partnership with the people and government of the state from creating employment opportunities to creating social impact projects, and this donation was very much in line with that.
Marketing Edge Holds Quarterly Summit
Determined to further expand the frontiers of advertising & marketing knowledge in the integrated marketing communications (IMC) sector, Marketing Edge , has announced its inaugural quarterly virtual summit. The quarterly virtual summit themed: “Brand Management Imperatives & Challenges in a Post-Recessionary Economy” will hold on Thursday, March, 25, 2021.The summit will feature seasoned and leading industry players, outstanding professionals and titans as they share knowledge and insight on how to navigate the myriads of problems besetting the industry while looking at opportunities in building brands in the present age of the new normal and beyond. According to the foremost Marketing and Advertising publication, the summit is aimed at expanding the frontiers of marketing and advertising knowledge while leading conversation in contemporary issues affecting the entire gamut of the industry. Speaking on the inaugural quarterly summit, Publisher/CEO of Marketing Edge, Mr. John Ajayi said it was another offering from the publication’s stable in setting agenda for the industry and also fulfilling its objective of promoting the brand idea. “We are excited to introduce Marketing Edge Quarterly IMC virtual summit as a premier event that will bring together the best minds in all IMC sectors at the highest level. This has become expedient in view of the fact these uncertain times call for collaboration and conversation as we adjust to the fast changing pace of the industry across sectors,” he said.
Diving Doctors Insist on Compliance
FG Told to Target 7% Sustainable GDP Growth to Curb Poverty Ndubuisi Francis in Abuja A former Commissioner for Finance, Imo State, Prof. Uche Uwaleke, has advised the federal government to target seven per cent sustainable economic growth rates for a minimum of five years, beginning in 2022, to curb poverty. Uwaleke, who is also the President, Capital Market Academics of Nigeria and a former Head of Department, Banking and Finance, Nasarawa State University, stated that Gross domestic product (GDP) growth is a necessary condition for poverty reduction and economic development. In a keynote speech with the theme, “Addressing the Callenges of Poverty in Nigeria”, which he presented at the 2021 Prof. Epiphany Azinge colloquium, Uwaleke observed that 40.1 per cent
ECONOMY of total population in Nigeria were classified as poor, going by figures from the National Bureau of Statistics (NBS). This, he noted, translated to over 82.9 million Nigerians who are considered poor by national standards, adding that an analysis of poverty in the country indicates that rural areas are most affected. He lamented that the outbreak of COVID-19 pandemic and increasing insecurity such as farmers-herders crisis, kidnapping, banditry and insurgency had worsened the situation. The finance expert explained that new strategies to tackle insecurity, including seeking help from foreign friendly countries in the fight against insurgency and banditry had become imperative.
He also pointed out that there is a strong correlation between corruption and high poverty rates, adding that the time has come to set up special courts for corruption. Proffering solutions to address the poverty quagmire, he stated: “GDP growth is a necessary condition for poverty reduction and economic development. Government should seek sustainable GDP growth rates of 7.0 per cent for at least five years beginning in 2022. “Unlike during pre-2015 era characterised by high jobless growth rates fuelled by high crude oil prices, growth rate must be inclusive to impact poverty levels. This requires a conscious effort on the part of government to promote high skilled jobs leading to higher income levels.” He argued that the current administration’starget to lift 100 million Nigerians out of poverty
by 2030 required a conscious plan involving subnational governments and all arms of government, stressing that this is to ensure that any measure put in place now is backed by law and cannot be easily truncated by successive governments. Past and present social intervention schemes, he said, were only good as stop-gap measures and are not designed to lift people out of poverty. Uwaleke said: “Poverty as a concept means material deprivation (e.g. food and shelter) and lack of access to basic services (e.g. health and education. In Nigeria, the poor are defined as those who have consumption expenditures lower than the poverty threshold.” The capital market professor noted that the NBS estimated the poverty line at N137,430 per person per cent.
Stakeholders’ compliance with regulations is imperative for the growth of the diving sector, the Hyperbaric Medical Practitioners Society of Nigeria (HMPSN) has said. This is just as the group disclosed plans to hold a diving conference in partnership with the Diving Advisory Board next June. President of the Association, Dr Kayode Ogunleye, made this disclosure afterthegrouppaidacourtesyvisittotheChiefInspectorofDiving,Nigeria, Mr. Julius Ugwala at his office in Port Harcourt, Rivers State. He stressed the need for collaboration among critical stakeholders so as to realise a more safety standards compliant diving sector. His words: “The visit created an opportunity for discussions on areas of collaborationbyrelevantstakeholdersintheindustrytoensurecompliance with the country’s recently passed Diving at Work Regulations”
“The completion of demutualisation of the Nigerian Stock Exchange (NSE) is a truly significant moment, and we welcome the new possibilities that have opened up for us today,”
NSE CEO, Continued on page 24
Mr. Oscar Onyema
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BUSINESSWORLD ALL-SHARE INDEX FALLS 1.7% AS DEMUTUALISATION FAILS TO LIFT MARKET try led the activity chart with 1.200 billion shares valued at N10.272 billion traded in 12,518 deals; thus contributing 71.64 per cent and 43.64 per cent to the total equity turnover volume and value respectively. The Consumer Goods Industry followed with 110.564 million shares worth N3.577 billion in 3,234 deals, while the third place was occupied by the Industrial Goods Industry, with a turnover of 99.761 million shares worth N5.322 billion in 1,309 deals. The price movement chart showed that 35 equities appreciated in price during the week, higher than 14 equities in the previous week, while 38 equities depreciated in price, lower than 71 equities in the previous week. Champion Breweries Plc led the price gainers with 45.2 per cent trailed by Regency Assurance Plc with 22.2 per cent. Smart Products Nigeria Plc chalked up 20 per cent. Conversely, Eterna Plc led the price losers with 18/9 per cent, followed by Meyer Plc with 18 per cent, just as African Alliance Insurance Plc shed 16.6 per cent. FG TOLD TO TARGET 7% SUSTAINABLE GDP GROWTH TO CURB POVERTY
Proffereing more solutions to the problem, he called for special funding for universities and colleges of agriculture scholarships to students of agriculture as well as encouraging graduates of agriculture to register partnership firms and supported with soft loans especially lease financing. The finance expert advocated a new educational policy, which integrates all levels of education with information technology (IT), noting that this requires the merger of Ministries of Education and Science and Technology while deliberate efforts to promote skills and pillar courses such as medical science, engineering, agriculture and IT infrastructure should be pursued.
Group Business Editor
Obinna Chima
Capital Market Editor
Goddy Egene
Comms/e-Business Editor
Emma Okonji Asst. Editor, Money Market Nume Ekeghe
NEWS
Crypto Exchanges Move to Control Scam Activities in Nigeria Emma Okonji
within the ecosystem. Those guidelines span a broad spectrum, from knowing your customers (KYC) to maintaining transparency to ensuring security against hacks. “Users who register on Binance, for instance, have to provide their government-issued ID or BVN, and also pass a 3D liveliness test or Selfie amongst others, and accept the Terms, the Privacy Policy, and other Binance Platform Rules,” said a Binance spokesperson.
Afreximbank, COMESA to Implement $1bn Guarantee Scheme African Export-Import Bank (Afreximbank) has signed the Instrument of Accession to the Inter-Surety Agreement for the Implementation of the COMESA Regional Customs Transit Guarantee/bond Agreement. The bank is now set to begin the implementation of its $1billion Continental Transit Guarantee Scheme, of which about $200 million is earmarked for the COMESA region. The agreement was signed last week by President of Afreximbank, Professor Benedict Oramah, and,
BudgIT, a civic-tech organisation leading the advocacy for transparency and accountability in public finance across four African countries, including Nigeria, has renewed its call for reform in Nigeria’s most financially viable sector-extractives. BudgIT made this call alongside other CSOs after its quarterly Extractive Consultative Forum last week, with CSOs, including Stakeholder Democracy Network, Paradigm Leadership Support Initiative, Global Rights, Policy Alert, and other stakeholders
imbank will become a regional and continent-wide guarantor, providing transit bonds covering the full range of borders that goods are required to cross. The Bank will not displace existing operators but will work with them on a risk-sharing basis thereby boosting their capacity to issue bonds at a local level. Through the scheme, Afreximbank will ensure that, when goods do not complete their transit, sums are paid in line with the duties and taxes that would have been required, thereby enhancing tax
collection for African nations. In addition, the transit guarantees provided by the Bank will enable businesses to release working capital otherwise tied up as collateral against transit bonds, while also accelerating the movement of goods across borders. By speeding up transit times and reducing costs, the scheme will provide a boost to African manufacturers, ensuring they can easily access the inputs they need for their business and enabling them to pass savings on to consumers.
Commenting, Oramah, said: “The launch of the AACTGS is a milestone in Africa’s journey towards deepening regional integration. A key tool for delivering on the vision of the African Continental Free Trade Area(AfCTA), the scheme will facilitate the seamless flow of goods in a connected Africa. It will accelerate trade, reduce the cost of trading, release capital for businesses investment, improve the bankability of intra-African trade, and in the end, reduce prices for consumers.
in the Extractive Sector. While presenting BudgIT’s Extractive Industry Reform Document titled: “The Next Frontier: Extractive Industry Reforms’’, BudgIT’s Extractive Transparency Lead, Adejoke Akinbode, raised the discussion on lingering issues in the sector, including ineffective benefit transfer mechanisms and commercially inefficient stateowned oil company, among others. She also highlighted solutions that should be explored to maximize the sector’s fortune
for economic growth and citizen’s development, as documented in our extractive document. Speaking on other issues, the Executive Director of Environmental Rights Action (ERA), Edo State, Chima Williams, emphasised expanding conversations around state capture and illicit financial flows, and the possibility of disaggregating the Joint Ventures arrangement of Nigerian National Petroleum Corporation (NNPC). Chima also emphasised on what non-state actors must do
to accelerate the passage of the Petroleum Industry Bill. In her remarks, the Executive Director of Stakeholder Democracy Network (SDN), Mrs Florence Kayemba, expressed her concerns on the neglect of the low quality of Petrol being imported into the country. This quality is far below the standard of what is obtainable in the environment where the oil is being imported. She asserted that her organisation’s assessment in Nigeria’s South-south region shows that artisanry refined
oil is confirmed to be of better quality than what the Nigerian government is importing into the country. Other participants added a need to have a regulation for NNPC’s cost of collection as a panacea to end the discretionary deductions by NNPC. Likewise, the Nigerian government and nonstate actors need to start paying attention to happenings in the solid mineral industry, noting that in years to come, oil may become unmarketable.
‘Nigeria to Improve on Ease of Doing Business Ranking by 2023’ The Minister of Industry, Trade and Investment, Mr. Niyi Adebayo, has assured that the country will by 2023, be ranked among the first 100 countries in the global ease of doing business evaluation. Speaking at the virtual NigeriaBritain Trade and Investment Expo with the theme: “Unlocking the
Nosa Alekhuogie (ICT) Peter Uzoho (Energy)
Chairperson of the Council of Regional Customs Transit Guarantee (RCTG, Dr. Elirehima Joshuo Doriye). It sets the stage for the implementation of the Afreximbank African Collaborative Transit Guarantee Scheme (AACTGS), a programme designed to facilitate the smooth transit of goods across Africa through a continent-wide single-technology enabled transit guarantee scheme. Under the AACTGS, working with the African Union (AU), COMESA and other Regional Economic Communities, Afrex-
BudgIT, Others Call for Reform in Nigeria’s Extractive Sector
Correspondents
Reporters
crypto market in Nigeria. During a recent presentation at the Bankers’ Committee conference, Osinbajo suggested that the country’s financial regulator, the CBN might be acting in fear rather than knowledge in putting prohibitions on financial services to the market. According to the VP, the most sensible approach to the market is a robust regulation since it is impossible to enforce a total ban.
ACCOUNTABILITY
James Emejo in Abuja
Chinedu Eze (Aviation) Eromosele Abiodun (Maritime) James Emejo (Finance) Ebere Nwoji (Insurance) Chineme Okafor (Energy) Emmanuel Addeh (Energy)
crypto exchanges often align with elements defined by the International Organisation of Securities Commissions (IOSCO) in a 2000 paper. The elements include transparency and accountability, contractual relationships, and coordination, and information sharing. However, despite the pressure, Vice President Yemi Osinbajo, recently became the most important voice in the government on the side of the
Cryptocurrency exchanges in Nigeria are taking measures to ensure a safe trading environment for investors with upgraded security protocols. The need to control scam activities like fraudulent transactions, is sequel to pressure being mounted on industry stakeholders, from regulators such as the Central Bank of Nigeria (CBN) over the high-risk nature of the market to investors. This is partly behind the recent decision by the CBN to place prohibitions on financial services from supporting cryptocurrency transactions in Nigeria. The market’s link with criminals is not a surprise for cryptocurrency exchanges. It is a reality many of them have taken measures to address. Their efforts have ensured that Nigeria does not feature on the list of countries considered a haven for money laundering, illicit transactions, and terrorism financing. In view of the delay by regulators to sanitise the market, exchanges that operate in the country have been self-regulating their operations. Self-regulation in the context of exchanges is the establishment of guidelines and a code of conduct for market L-R: ExecutiveCommissionerCorporateServices,SecuritiesandExchangeCommission(SEC),Mr.IbrahimBoyi;DirectorGeneral, Mr.LamidoYugudaandHead participants to operate businesses FinanceandAccounts,Mr,FrankAulduringanappearanceofSEC’sofficials beforethe NationalAssemblyin Abuja…recently
Senior Correspondent
Raheem Akingbolu (Advertising)
“We are now required to comply with Anti-Money Laundering (AML) and Countering the Financing of Terrorism (CFT) legislation in several of the countries we operate in. Where that’s not yet the case, we have clear guidance from the Financial Action Task Force (FATF) to measure our approach,” Luno, one of the channels for crypto business, noted in a post. The guidelines employed by
Future of Anglo-Nigerian Trade”, he drew a correlation between ease of doing business and economic prosperity of the country. He pointed out that given the strong nexus, the country believed in the value of proactive investment
Business Environment Council (PEBEC) in collaborating with the relevant private and public sector institutions had resulted in the steady improvement in Nigeria’s position in the World Bank Ease of Doing Business ranking.
facilitation in encouraging domestic and foreign investments into the country. Adebayo said the consistent efforts
He said already, the country had recorded improvements in its business environment especially in the last five years, based on the World Bank’s assessment through
of the Presidential Enabling
According to him, Nigeria’s ranking stood at 131 of 170 countries in 2020, up from 170 of 189 countries in 2016 adding that “We have also recorded improvements in the World Bank’s Sub-National Doing Business assessment.” Speaking on efforts to attract investors to the country, the minister disclosed that Nigeria
its Doing Business Index.
had revised its bilateral investment treaty (BIT) model with the provision for investment facilitation inserted to institutionalise the principle of supporting investors to actualise their investments. He said:”We are optimistic that Nigeria will move further up and maintain a rate of improvement of 10 places per annum to become a top 100 contender in 2023.
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Oyetunji:InsuranceFirmsNeedConsolidationfor Better Performance Dr Femi Oyetunji, is the outgoing Group Managing Director/CEO of Continental Reinsurance. A Manchester University trained statistician and first Actuarial scientist in Nigeria, Oyetunji is retiring after completing his 10year tenure. In this interview with Ebere Nwoji, he speaks on his journey, contributions to the development of the entire insurance industry and what he wants the future of the industry to be. Excerpts: You have spent about 10 years now in Continental Reinsurance as the Group Managing Director(GMD), could you tell us how the journey has been and how you were able to surmount the challenges to reposition the company for greatness? Yes, on the 3rd of January 2011, when I first got into Continental Re office at St Nicholas House, Lagos, I knew I was going to face some challenges because we had only two existing reinsurance companies in Nigeria after the last recapitalisation exercise. At that time, the Deputy Managing Director was a Nigerian, the Chief Financial Officer was an Ivorian and the Executive Director, Operation (who is still with us now) is from Zimbabwe, and myself Nigerian. In Lagos, we had people from different parts of Africa; our shareholders were Americans, South Africans, and Nigerians, so it was not just Nigerians. At the time I took over in 2011, we had a branch in Douala and a branch in Nairobi. Even in terms of location, we were multinational. I got in there and I saw a multinational company but some people saw a small Nigerian company. My initial challenge was to have a paradigm shift in philosophy and mentality, to see us not just as a small Nigerian brand but a multinational brand. Things were as bad as on Fridays, in Douala, Nairobi people will wear Ankara tops to the office. I didn’t think that was what Continental Re was all about, even from the name, the founders knew what they wanted. We will start work at 8 am Lagos time, it was 10 am in Nairobi. People in Nairobi couldn’t start work until 10am their time because everything was centralised here in Lagos and not thinking about the pan-African nature of our businesses in the way we run our offices. So, it was a great challenge to get people’s mind away from a narrow focus to a broader picture. As a leader, the first thing was to envision. Therefore, I came up with the vision of being the premier and African reinsurer. We had everything in place, but we were not thinking pan- African and international. Of course, the most difficult situation is to change people’s mindset from where they have been. This was very challenging, but after 10 years, not only have we succeeded in becoming a truly pan-African and a well-respected brand, we have internalised the philosophy of being pan- African in all we do as an organisation. Ten years is such a short time for that kind of transformation. The achievements are not just by our assessment, but last year we commissioned a global perception company to see what people think about us and how we are perceived. The international standard score is 73, but we achieved far way 79. So, there is documentary evidence that we really transformed from being a small Nigerian reinsurance entity to a well-respected Pan-African brand. You recently completed a befitting head office building here in Nigeria, apart from this, what other achievements can be traced to your 10 years as GMD of this company? In 2012, I attended a meeting of an insurance summit in Brazil, and the United Nations made a presentation in terms of Principles of Sustainable Insurance (PSI) and Global Warming. And one of the things I find most disheartening in Africa is that there is a disaster, huge economic losses but very little insured losses because of low penetration of insurance. So, for me, we need to prevent those natural disasters which are not so natural as it were but being consequences of what we do. So, I signed Continental Re up to the United Nations PSI in 2012 and we showed so much commitment to the extent that one of our colleagues was elected to the board in Geneva, to really demonstrate our interest in climate change because if the climate goes, and disaster starts happening, of course, it will end up in a problem for the insurance industry. Therefore, it will be self-indicting, if we see danger and do nothing to prevent it. So we became the first African reinsurer outside of South Africa to sign up to United Nations PSI. Again, in 2012, we opened a branch in Abidjan, in 2013 we opened in Tunis, in 2014
Re because the opportunities are immense. If we proceed along the current trajectory, we see a lot of new products and a new approach to doing things. We are at a very exciting time where we marry experience with technology, and I believe the insurance industry in this country is set to take over.
Oyetunji we opened a subsidiary in Botswana, and along the line, we converted a branch in Nairobi to a subsidiary. It was a strategic plan. We sectioned Africa into homogeneous groups because one of the key propositions is a customised experience. After all, we realised that your customer can not have that experience unless you are close to the customer. So, being who we are, we see our self as thought leader and pacesetters, so we moved away from the traditional pattern of a Reinsurance company, of creating branches all over the place to creating subsidiaries. Therefore, we had a rapid expansion that happened in the first five years, which were deliberate actions because we believed, that was the way to go. In Continental Re, we believe that we must keep African premiums within Africa. We do not believe that anyone else will develop our continent for us. We have to develop our continent, so we must put things in place to ensure we solve our problems by ourselves. We are closer to the problem and we are in a better position to solve them. So, we created a platform whereby stakeholders can sit together, discuss common problems and proffer solution. We started the platform in 2014 in Mombasa Kenya, which brought leaders in the industry from across the continent. It provided an opportunity to find a solution to Africa related issues. It has become a taught leadership platform where great minds and leaders in the insurance industry, as a continent, look forward to every year. Driving the pan African agenda is something to be proud of and that is what Continental Re has been able to establish. In Continental Re, we are not yet A-rated but we must operate as an A-rated company. The reason why we are not A-rated is the sovereign risk of the countries in Africa. As an insurance company, we look for scales, support. I believe we have the best Analytical team in the continent, we have the best engineering team here in the continent, the best underwriting procedures and skills. So, though we are not A-rated as per the size of our balance sheet, we have the competence that people are looking for. Because we are close to the risk, we can assist them in getting a solution for their clients. We behave like an A-rated company and have the skills that the giants have in addition to proximity to risks. In terms of providing a solution to our clients, the brand survey and perception we are number one. Again, in balance sheet size, four reinsurance companies are ahead of us. In terms of rating, three other companies have a higher rating than we have. In Continental Re, our watchword is that every genuine claim must be paid and must be paid promptly. In Continental Re, we have this special arrangement, where we attract Africans in the Diaspora back to Africa, and that
is one of the reasons we went from branches to subsidiary network. We made sure that we have platforms all over the continent, where we can attract people from Europe, United States (US) to come back to Africa, bringing their skills. We must as an industry attract new skills which involve a lot of money, and that is why adequate capitalisation is key in growing our industry. Now, let’s look at numbers in terms of your achievements while leading the pan African institution? When I joined Continental Re in 2011, almost 70 per cent of our premium income was from Nigeria not even from West Africa. The other 30 per cent were from Douala and Nairobi. When you look at the various economies not necessarily about insurance, like investment and properties, everything is about diversification. Having so much concentration in Nigeria was not sustainable, so we set ourselves a target to turn it around and have 40 per cent from Nigeria and 60 per cent from outside Nigeria. We have grown rapidly in Nigeria and over the past 10 years, we have been able to achieve what we set out to do, as seen from the rapid expansion we had between 2012 and 2015. In 2011, we wrote N11.6 billion premium and we had a profit of N1.6 billion. However, over the 10years, we grew the premium income in five-folds and the profit in three folds. We created employment, we almost doubled our numbers. In 2011, we were 51 in the three offices we had then but right now we have 94 people in all the offices on the continent. While we are still growing, we have doubled productivity in premium income per employee. It’s been a good run. We achieved these through hard work and the expertise we have been able to bring into the business. You have watched the market grow over the last 10 years, with a lot of transformation, which of the reforms excites you? There have been great transformations in our industry over the last 10 years, not because am an Actuary but because it was an anomaly that we didn’t have actuaries operating in this industry and we have many of our offices writing annuity business. We have a lot of actuarial involvement, which means we have been more scientific, more analytical in our approach to risk management and risk-taking. We have come a long way off ‘if I know you and you know me, we do business.’ In terms of insurance penetration, life and non-life insurance, development in healthcare products, and digitalisation, I can say a lot has taken place. This is the best time to work in this country particularly at Continental
You have seen it all, what would you like to see happen in the nation’s insurance industry after your retirement? I am going to say the same thing I said in 2005. If we don’t reduce the number of insurance companies in this market, we are not going anywhere. My personal belief is that 15 to 20 well-capitalised, skilled insurance companies will transform the industry. What I will like to see is insurance companies talking to each other, looking for synergy, and saying, let us come together. The biggest threat at the moment is that global players with big capital and all that it takes to drive growth are here and taking a position. At the end of the day, they will take away the expected benefits. We can clearly see the danger, having seen the trend. Why we have not seen many of them at the moment is because of the economic situation. Once the situation improves, the big players from America and Europe will come in and dominate, and that is where the benefits will go. If the global players are based in the US, UK, or Germany, they will take the benefits to those places. What I will like to see is consolidation, having fewer insurance companies that have the requisite skills, the analytics, the technology and the products that people want. That is what will move us from the current less than one per cent penetration to at least double of that size at first, then we can get to five per cent, 10 per cent and more. Imagine the kind of industry we will have when the penetration gets to five percent! There is a need for reinsurers and more big players. The only reason people go outside to place their risks is that we have exhausted what we have domestically. There is the local content law that we should take advantage of, but because the capacity is not there, we go outside, and we cannot overexpose our balance sheet to a single risk. There is a limit to what we can take. The recent licensing of a new reinsurance company by the National Insurance Commission (NAICOM) is a welcome development. I believe that we should keep Nigerian premium within Nigeria and African premium within Africa. We can use those premiums to build hospitals, build roads, and build other infrastructures and technology within our societies. Nobody will bring dollars from the US to build schools or roads for us, let us keep what we have within the economy. There is this impression in the market that Continental Re is no more a Nigerian company. What is your take on this? We need to guide against detractors and demarketing in this industry. The initial interest in having a new building was to demonstrate the company’s ability. Now, it is to prove to people who are saying that we are taking Continental Re out of Nigeria to understand that we are committed to the Nigerian market. This structure cost us a lot to build. There is absolutely no reason for putting this building up if we are leaving. Do not forget that Continental Re is regulated by NAICOM; Continental Re is a Nigerian registered company, we pay taxes to Nigeria, and over 15 per cent of our work force are Nigerians. So, our commitment to Nigeria is permanent. To clarify, we restructured the capital of the company to Mauritius because one of our main objectives is to become an A-rated company. If the capital is still registered here, we would be seen as a Nigerian company and our rating is limited by Nigerians sovereign rating. The whole capital restructuring and financial re-engineering we did is to pursue our desire to be an A-rated company. In terms of business processes, regulation, and people we are more Nigerian than many others are claiming.
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SON Partners Benue State to Grow MSMEs The Standards Organisation of Nigeria (SON) and the Benue State Government have resolved to enhance their partnership to grow Micro, Small and Medium Enterprises (MSMEs) in the State through improved education and sensitisation on adherence to standards as well as imbibing the culture of Quality. This resolution was reached during a courtesy visit by the Director General, SON Farouk Salim to Governor Samuel Ortom in Makurdi recently. According to the Director General, SON has been providing technical support and expertise to industries in the state since its establishment in 2007. Salim said the organisation was determined to do more by establishing a food testing laboratory that will support the state as the “Food basket of the nation”, for the certification of products for local consumption and export. This, he said, would in addition to boosting socioeconomic development of the state, reduce the time and efforts committed to transporting agricultural and food products to other States for testing. He thanked the governor and people of Benue State for being worthy hosts in providing the current SON State Office accommodation located on J. S. Tarka Road since 2007 and expressed appreciation for the allocation of a parcel of land along Naka Road in 2010. The SON boss, however, appealed for the provision of a more spacious and befitting temporary office for the organization, stressing that its activities had outgrown the current office space.
Salim also requested Governor Ortom to allocate another parcel of land within Makurdi city to enable SON commence the construction of its permanent office complex, laboratory and storage facility, pointing out that the earlier allocated land had been encroached and not easily accessible. He also appealed for the provision of an additional operational vehicle to enable the Staff reach all nooks and crannies of Benue State with the gospel of standardisation and quality assurance. While congratulating the governor in maintaining peaceful co-existence in the state, he offered the various International Organisation for Standardisation (ISO) management systems accredited training and certification services being conducted by SON to bolster efficient service delivery in the State. Responding, Governor Ortom expressed appreciation of SON’s efforts in the performance of its products and systems regulatory role in the country and for protecting Nigerians from the menace of substandard products and its negative effects. He assured the SON DG of his personal commitment to supporting the organisation being a former Chairman of its Governing Council and a Minister who supervised its activities at the Federal Ministry of Industry, Trade and Investment. He directed the Secretary to the State Government, Tony Ijohor, to take prompt action on the requests from SON, stressing that Benue State was most receptive to assisting agencies of the Federal Government to support the State in enhancing its socio- economic development.
AFDtoExpose 332million Africansto FormalEconomy Michael Olugbode in Abuja The French Development Agency (AFD) said it is committed to spending $ 6.95 million on financing digital financial inclusion in Africa, which is aimed at reducing existing gender gap in digital financial services. The Development Agency has targeted 332 million more Africans of which 60 per cent are women, get access to the formal economy by year 2030. A statement from the organisation said the Africa Digital Financial Inclusion Facility (ADFI), supported by the French Development Agency (AFD) and hosted by the African Development Bank (AfDB) has committed to financing digital financial inclusion in Africa, with six grants totalling $ 6.95 million. The commitments aim to reduce Africa’s existing gender gap in digital financial services. The statement said that the ADFI was established by the AfDB, and co-financed by AFD, the Ministry of the Economy and Finance of the Government of France, the Ministry of Finance of the Government of Luxembourg and the Bill and Melinda Gates Foundation, with the purpose of ensuring that 332 million more Africans, of which 60 per cent
are women, have access to the formal economy by 2030. The statement said in February 2021, the AfDB Board of Directors approved a series of five grants from this blended finance vehicle, to the benefit of the following organisations: African Cybersecurity Resource Center (ACRC), EthSwitch Share Company, M-Kopa Kenya Limited, Pula Advisors Limited - Kenya, Sinitic Africa and the West African Monetary Agency. Part of the financing include $ 2 million grant to ACRC, aiming at fighting cybercrime across the African continent while strengthening the resilience of digital financial ecosystems, as more and more transactions are made via mobile phones which raise new security concerns. Based in Dakar, with sub-regional offices in West and East- Africa, it will allow the creation of a shared platform to monitor cyber-attacks targeting finance service providers and individuals, the strengthening of their cyber-security via tailor made advisory services, and the fostering of cybersecurity training so as to meet the African demand for expertise. The funding will target, among other beneficiaries, 20 to 25 million women over five years. Another grant of $ 2.33 million to EthSwitch Share Company is
dedicated to modernise the payment infrastructure of this initiative led by National Bank of Ethiopia. Focusing on providing simple, secure, effective and affordable digital payments infrastructure to the Ethiopian market the payment system will facilitate use of digital financial services fostering digital inclusion, such as social benefits, pensions, e-commerce, transport systems and utility bills. It will be implemented over a three-year period. A $300,000 grant will allow Kenyan company M-Kopa, a financing platform offering underbanked customers access to products and services such as TV and internet, to conduct a research study to improve women’s access to digital financial services and financial literacy programs. The study will be carried out among 250 women and 250 men in Kisumu, Eldoret and Machakos counties to compare how men and women access digital financial services. The result will serve to design a pilot smartphone app providing small loans that are relevant to women running small businesses. If successful, the project could be scaled-up to the entire country. A $1 million grant to Agri-fintech firm Pula Advisors Limited, Kenya, a company dedicated to provide agricultural insurance for
small-scale farmers to manage climate risk, weather shocks and outbreaks of pests and diseases. The funding will enable Pula Advisors to develop digital micro-insurance products for women farmers in Kenya, Nigeria and Zambia and ultimately, to increase the income of farms managed by women by up to 30 per cent. A $1.024 million grant will finance Sinitic Africa to develop an Artificial Intelligence based customer complaints management system for the use of the national banks of Ghana and Rwanda and the Consumer Protection Commission of Zambia. The system will feature audio complaints, thus allowing access for customers who cannot read or write, as well as main local languages. It aims at improving database and action on customer complaints made to financial service providers, improve inclusion of marginalised groups and improve consumer-protection policies. The Sinitic system will be adapted in the following languages: Kinyarwanda, Swahili, French and English in Rwanda; English and Nyanja/ Chewa in Zambia; and English and Twi in Ghana. A final $320,000 grant will finance inclusion of gender by the West African Monetary Agency (WAMA) in the main regulatory frameworks for digital financial services in ECOWAS.
Samsung Assures Customers of Quality Experience Emma Okonji Samsung Nigeria says it is impressed with the opportunity afforded customers to experience the latest technological transformational devices on display in the Tech Experience Centre, which was opened by TD Africa last October. The commendation coincides with the company’s decision to give its customers discounts on some of its products. The Tech Experience Centre, which is located at Idowu Martins, Victoria Island, Lagos, is home to latest global technological devices manufactured by Original Equipment Manufacturers (OEMs) like Samsung Nigeria. The centre offers visitors a first-hand experience of new devices, gadgets, solutions and infrastructure that were previously alien to the industry and customers in Nigeria. Head, Marketing, Samsung Nigeria, Iretiogo Oke, said: “The Tech Centre provides customers an array of our latest premium technological devices and gadgets on
a consistent basis. It is like a daily technological exhibition of some sort and it is open to customers for a long period of time daily”. We are glad to be part of this remarkable arrangement which enables us to reach our customers in a whole new level and avail consumers with ultramodern home and office appliances,” she added. Speaking about the discounts, Head, Consumer Electronics, Samsung Nigeria, Oluwaremilekun Ogunsan, said: “We are very happy to announce that consumers can enjoy up to 20 per cent discount on a range of home appliances such as Refrigerators and Washing Machines. This offer is our own way of assisting our customers who would love to celebrate their mothers with a special gift and we thought it wise to help them achieve it”. Mother’s Day celebration has become a huge part of us in Nigeria and it is an opportunity for Mothers to receive pleasant gifts of appreciation from their children. She added.
CSRINACTION
Group Managing Director, Custodian Investment Plc, Wole Oshin; Chairperson, Custodian Social Responsibility Foundation(CRSF); Mrs. Mimi Ade-Odiachi; ChiefExecutiveOfficer,CRSF,Mrs.OlubunmiAderemi;Special Adviser,WorksandInfrastructure,LagosState,Mrs.AramideAdeyemo,andMember,House ofAssemblyConstituency2,LagosSate,Mr.OlanrewajuOshunandChairman,YabaLCDA,Hon.KayodeOmiyaleattherehabilitationofChapelStreetRoad DrainageandprovisionofstreetlightsbyCustodianInvestmentPlcinLagos..recently.
Enterprise Group Opens Life Assurance Company in Nigeria Ebere Nwoji Enterprise Life Assurance Company Limited, a subsidiary of Enterprise Group Plc Ghana, has opened operations in Nigeria with a promise of a new life for Nigerians. Speaking during the company’s formal unveiling in Lagos, the Managing Director, Funmi Omo, stated that the company intended to reframe the way Nigerians see life insurance by making it an appealing proposition that is easy to accept, embrace and adopt as part of life’s necessities. She said Enterprise Life is about people and its products are carefully designed to help people plan their lives and fulfil their dreams. She said though Enterprise Life Assurance Company, simply
known as Enterprise Life, is new in Nigeria, the company is not new in the life insurance business. “Enterprise Life has, in key West African markets, built decades of experience and expertise in delivering innovative Life Insurance solutions that support customers’ quest for a fulfilled and quality life across key West African markets”. “Enterprise Life understands that Nigerians are resourceful and ingenious people who need to be supported with the appropriate platforms, products and services that will enable them face the future with confidence. Thus, its business model focuses on the needs of the customer and delivering exceptional value that gives them advantage in the pursuit
and fulfilment of their aspirations”, Omo stated. Speaking further on the company’ product offering to Nigerians, Omo stated, “We will put the customer’ needs at the heart of all operations by delivering life insurance solutions in an unconventional manner. We have a team of trained field officers called Life Planners who just graduated from our Life Planner’s Academy after months of intense training. These Life Planners will sit with customers, take time to understand and distil their needs, and then work together with each customer to develop bespoke solutions that suits their individual needs, lifestyle and aspirations.” she noted She said Enterprise Life is a member of Enterprise Group Plc with headquarters in Ghana, with
roots dating back to 1924. According to her, a publicly listed, blue-chip, financial services company, Enterprise subsidiaries are each market leaders in their fields of life insurance, general insurance, pensions, funeral services and real estate. She said after several decades as an industry leader in the Ghanaian market, Enterprise Life expanded into the Gambia where it has equally built a solid reputation for its innovative solutions and excellent customer relationships. She further said building on its footprints and vast experience, Enterprise Life has entered into the Nigerian market with a mission to deliver customer focused and needs-based Life Insurance services to give Nigerians superior advantage over life’s situations.
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NanonoSeeksScientificSolutionstoFarmers-herdersConflict James Emejo and Folalumi Alaran in Abuja The Minister of Agriculture and Rural Development, Alhaji Sabo Nanono, has challenged the Nigerian Institute of Animal Science (NIAS), to evolve scientific and practicable models that the government can adopt to surmount the recurring conflict between farmers and herders in the country. Speaking at the inauguration of the fifth council of (NIAS) in
Abuja, he said the institute must not shy away from playing a deserved lead role in proffering the needed solution to the current burning issue of incessant conflicts between herders and sedentary farming communities. He said land resource is indeed scarce and not expandable, but science has proven that we can generate. All we need is renewable agricultural strategies for both crop and livestock production from the available land resource without any form
of conflict. “I strongly call on the Institute to come up with scientific and practicable models that the government can adopt to finally lay to rest this front-burning problem.” The minister added that the country needed to quickly transit from the present conflict era to becoming a net exporter of premium beef, emulating and surpassing the enviable achievements of countries like Uruguay which has metamorphosed over
IAC, Ilorin Vows to Train World Class Pilots By Hammed Shittu in Ilorin. Chairman, Board of Directors, International Aviation College (IAC) Ilorin, Alhaji Ahmed Yusuf Gobir, has reiterated the commitment of the management of the college to train a world class pilots that would add values to the aviation industry in the world. IAC was established by the former Governor of Kwara state, Senator Bukola Saraki in 2010 with the aim of training pilots and the conduct of the college is being moderated by the Nigerian Civil Aviation Authority (NCAA). Currently, the college is issuing Private Pilot License (PPL)/Multi Engine/Instrument Rating as Flight Operation Officers Course among others Kwara state govern-
ment disclosed that Governor, Alhaji AbdulRahman AbdulRazaq was ready to purchase another set of three aircraft to add to the two existing ones in order to boost the training and operations of the college. Speaking with journalists in Ilorin at the weekend during the inauguration of the members of the boards of the College, Gobir stated that the college had been positioned with required infrastructure that would enhance the training of the students. He said: “Present my, the college has seasoned professionals and articulate experienced people in the new board that would give advice capable of turning around the college for optimum results”. “Your appointment by the state government to say the least is well
deserved and it came at a time the college requires people of great calibre who are well grounded in their chosen careers to move the college into a greater level of growth”. He added that the college began skeletal preparatory operation in 2010 through 2011 until it officially training in January 2012 by taking the first set of students in the college. “The college has four trainer aircraft, two DA42 and two DA40 at its disposal for pilot training ad graduates twelve streams of Standard pilot students, six steam flight dispatcher students, three executive PPL students and other flight training related students in the college”. Gobir stated further that since his assumption of office on February 2020.
the recent years into a leading exporter of premium beef to the EU, US and even the Chinese markets. He added that it took Uruguay years of branding, food safety and quality reforms as well as investment to get to that enviable market leadership, noting that “It will take us nothing less”. He said the institute had since its inception in 2007 by Act No. 26 of 2007 (as Amended 2015), proved its mettle in the fight to engender national self-sufficiency
in safe animal protein intake through appropriate regulations of the livestock industry. He said the institute’s regulation for the feed milling industry and regulation for breeder farms, hatchery operations and day-old chicks quality in Nigeria, are particularly worthy of mention. According to Nanono, these regulations have been in tune with the Agricultural Promotion Policy, the National policy framework for driving the growth and development
of the agriculture sector by the federal government, under the able leadership of President Muhammadu Buhari. He said:”The regulations are indeed potent in curbing quackery and promoting safety of animal products and trade competitiveness. “Worthy of mention also is the institutes facilitation of capacity building in the livestock subsector. As the saying goes: If you know better, you will do better.”
‘COVID-19 Boost to Catering Industry’ Chinedu Eze While many sectors of the economy were devastated by the Coronavirus pandemic, especially during the lockdown in 2020, the catering industry blossomed and became a multibillion-naira sector. This was the verdict of caterers who gathered recently in Lagos to sensitize young women to join the business instead of waiting for jobs that are scarce to come by. Industry players said the catering sector is essential and during the lockdown, it was exempted from the suspension of its services because it provided food for the people and in collaboration with the courier service sub-sector, the catering industry saved lives during the pandemic
by supplying foods to homes of those in dire need who could not prepare their own foods. Speaking during a one-day summit tagged ‘Spend the Day with Successful Business Women in Catering and Events,’ organised by Nonos Catering Mentoring Initiative (NCMI) programme, The Managing Director, Nonos Catering and founder NCMI, Abumere Uto, said COVID-19 forced caterers to diversify and change the way they provide services. Uto acknowledged that events were not being held as they used to, so caterers now provide food to people’s homes. “There is something we call ‘Food in bowls’ to feed families. Speakers at the summit are talk-
ing about how they made so much money from supplying food to people’s homes during the lockdown because food is an essential service. That is way, they are making more profits and they are being empowered. “Catering and events industry is huge. I am a caterer, so I can only talk about the food industry and I know that everybody eats and people party. We are encouraging more women to become entrepreneurs and go into the food business. “There are no parties now and we understand that the government is trying to control the spread of COVID-19 but you can supply food to people’s houses, you can cook in the comfort of your homes.
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T H I S D AY ˾ ͯͳ˜ 2021
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BUSINESS/MONEYGUIDE
CRC Credit Bureau Launches Solutions to Facilitate Lending Nume Ekeghe CRC Credit Bureau has launched the CRC Returnex, a data-enabled solution that provides lending institutions the means of using artificial intelligence to identify and retain borrowers in their portfolio. This would enable lenders effectively profile borrowers that would likely take loans; those that may borrow from other institutions and those who may stop borrowing in entirety or for a duration of time. The Managing Director of CRC Credit Bureau Limited, Dr. ‘Tunde Popoola, stated that the
innovation in Nigeria, the first in the credit reporting industry, enables lenders manage their credit risk exposure while effectively channeling their marketing communications activities to the right customer base, thereby saving on marketing spend. He said: “CRC Returnex offers lenders a means of prompt identification and retention of customers through an effective customer management process. With this solution, lenders can detect delinquent customers on time while driving customer loyalty. “In this new normal, especially with the ongoing
pandemic, it is paramount for lenders to become more datafocused on all their business operations especially when it comes to risk analysis and marketing. “CRC Credit Bureau is poised to support by providing various products and services that are data and technology-driven which will solve identified pain points for both lenders and borrowers. “With CRC Returnex, lenders can forecast if a customer has a high or low probability of coming back to access a loan in the future and as well identify the most important metrics for a return customer.”
Coronation Records 15% Profit Growth Coronation Merchant Bank Limited has announced its audited financial results for the year ended December 31, 2020, with profit before tax of N5.784 billion, from N5.024 billion in 2019. But its profit after tax was down slightly down by one per cent to N5.040 billion, as against the N5.097 billion recorded in 2019. Its total assets also climbed by 63 per cent, up from N253.35 billion in 2019, to N412.36 billion in the year under review; while loans and advances to customers also increased by 69 per cent to N122.21 billion as at December 2020, compared with N72.2 billion
recorded the previous year. In the same vein, its customer deposits jumped by 41 per cent to N195.16 billion in the period under review, compared with the N138.08 billion it realised in 2019. Similarly, the bank’s noninterest income grew by 23 per cent, mainly driven by trading income that compensated for the declining yield environment in the market. Its risk assets increased by 69 per cent as the bank continued to support its customers through difficult times, even as nonperforming loans was nil. Commenting on the financial
results, the Managing Director of Coronation Merchant Bank, Banjo Adegbohungbe, said “despite the challenges in our operating environment, we navigated the headwinds that characterised the year to deliver strong results. In a year when the entire world grappled with the debilitating effects of the COVID-19 pandemic, we strengthened our partnerships with our customers and created sustainable value for our shareholders.” It added: “During the year, we concluded our maiden international credit rating by Fitch with B- (stable outlook) as at 31 December 2020.
ARM Trustees Harps on Wealth Management Nume Ekeghe An investment banker and consultant to ARM Trustee Limited, Mr. Henry Hollingdrake, has urged businesses and families to properly structure and manage their wealth in order to be able to efficiently transfer it successfully to the next generation without incurring liabilities and unnecessary risk. He said this recently at a roundtable organised by ARM Trustees, where he stressed that in today’s world, owning valuable assets does not guarantee the value of the assets will be preserved when transferred to
the next generation. He added: “We must be willing to leverage estate planning tools like Wills, Guardianship documentation, Trusts and Foundations, and the utilisation of relevant coordinated structure for larger and more complex estates.” He explained that an Estate Plan, be it local or international, includes having strategies in place to manage, saying that, “the effect of inheritance tax, ease of wealth transfer and business succession relating to investments, real-estate, your pension fund, and other assets, which could form a significant portion of your wealth.” He added: “An estate plan
will help individuals and families with both local and international assets, investments, and business operations give careful consideration and properly document their holdings to ensure the assets are protected and passed on to future generations. “This is effective, legally robust, practical and efficient. Estate planning offers you protection without borders, especially considering potential shifts in Residency and Citizenship, which may impact one’s wealth. Effective management and ownership of a business operation can also be safeguarded by setting up a succession plan.”
MARKET INDICATORS MONEY AND CREDIT STATISTICS 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
Compass Business Services to Enhance Gender Development
(MILLION NAIRA)
JULY 2020
March 2018
Inter-Bank Call Rate
15.16
Minimum Rediscount Rate (MRR)
An international trade and investment promotion firm, Compass Global Business Services has evolved mechanism to enhance gender development to achieve a safe and sustainable world. The Chief Executive Officer of Compass Global Business Services, Mrs. Tokunbo Chiedu, who disclosed this in a statement in Lagos, explained that the organisation was renowned for collaborating with its strategic
partners to provide solutions that focus on global concerns, while promoting empowerment, driving inspiration, and encouraging learning and transformation. According to her, the firm will hold a virtual edition of the global Female Leaders, and Entrepreneurs Conference (FLEC) from March 23 to 25. “FLEC is designed to be a convergence to initiate powerful conversations with female leaders,
around gender development and the pivotal role gender balance. And diversity has to play in navigating the new normal, and particularly toward achieving a safe, and sustainable world for all. The overarching theme of the conference focusses broadly on gender development and innovation with emphasis on toolkits to innovate, survive and sustain in the post – pandemic recovery phase,” she said.
Addosser MFB Makes Case for Increased Gender Representation Ugo Aliogo As part of activities marking the celebration of International Women’s Day (IWD), Addosser MFB last week appealed for increased gender representation in the banking sector. Speaking in Lagos at an event organised by the bank to commemorate IWD with the theme: ‘Choose to challenge,’ the Managing Director, Addosser Microfinance Bank, Mr. Bayo
Fabiyi, said a lot had been done to increase gender representation in the banking sector especially from the angle of the regulators. He also stated that prior to now, the representation had been one woman to six men, adding that over the years, there had been improvements, “but a lot needs to be done to close the gap, “even though the ratio is now one woman to three men.” “If you look at the banking industry presently, you will realise
that there are more women going up the ladder especially at management levels. Unlike what it used to be before where more women were at the lower cadre and along the line, they begin to fall out. “Now, we have women becoming chairman of boards of banks, managing directors, and executive directors, so we can say that generally it has improved in the banking sector when compared with what it was 10years ago,” he said.
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 MARCH 2021
The price of OPEC basket of thirteen crudes stood at $67.39 a barrel on Thursday, compared with $65.60 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
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FMDQ Admits Fidelity Bank, TSL SPV N53.2bn Bonds Goddy Egene FMDQ Securities Exchange recently approved the listing of the Fidelity Bank Plc Series 1 N41.21billion Fixed Rate Subordinated Unsecured Bond under its N100 billion Bond Issuance Programme to its platform. FMDQ also announced the approved the listing of the TSL SPV Plc N12.00 billion
Series 1 Guaranteed Fixed Rate Infrastructure Bond under its N50.00 billion Bond Issuance Programme. According to the exchange, the listing will allow Fidelity Bank Plc fund key activities that would ultimately translate to the development of the banking sector and the Nigerian economy. Speaking on the development, the Managing Director/Chief Executive Officer, Fidelity Bank Plc, Mrs. Nneka Onyeali-Ikpe,
P R I C E S MAIN BOARD
F O R
DEALS
said: “This is a landmark bond issuance. It is by far the largest local bond transaction by any commercial bank in Nigeria, thus validating the continued investor confidence in our wellexperienced management team. “By registering and listing the bonds on FMDQ Securities Exchange Limited, Fidelity Bank has provided its bondholders a robust and transparent platform that will improve the liquidity and
S E C U R I T I E S
MARKET PRICE
QUANTITY TRADED
VALUE TRADED ( N )
visibility of their investments.” Commenting on the transaction, the Co-CEO, Planet Capital Limited, Mr. Efe Akhigbe, said, “Planet Capital is pleased to sponsor the listing of the Bond, having led and collaborated with a club of investment banking firms that advised on this Transaction.” On his part, Managing Director/Chief Executive Officer, TSL SPV Plc, Mr. Ayodeji Wright, said: “TSL’s Senior Guaranteed
T R A D E D MAIN BOARD
A S
Infrastructure Bonds was conceived a few years ago and I am profoundly grateful to the entirety of the transaction tarties, TSL bond investors, InfraCredit and the regulators, who have made this a reality today. “TSL remains committed to delivering its vision of providing bespoke supply chain and logistics solutions within Nigeria, and to sub-Saharan Africa. The unprecedented issuance of the
O F
N12 billion, 10 per cent fixed rate, 10-year tenor TSL bonds is a first in Nigeria’s transportation and logistics sector, which will undoubtedly be the springboard to provide the financial reinforcement to our business strategy and strong operating model. Its proceeds will in part be used to stimulate an atmosphere for profitable growth for the business and in part for the improvement of the existing business.”
1 1 / 0 3 / 2 0 2 1 DEALS
MARKET PRICE
QUANTITY TRADED
VALUE TRADED ( N)
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MARKET NEWS
Q2: NEM Insurance Eyes N16bn Premium, N2.4bn Profit after Tax Goddy Egene
player in Nigeria’s insurance the second quarter (Q2) a gross premium written for Q1 2021. It envisages sector, has released its period ending June 30, of N16.320 billion, up from a profit after tax of N2.350 forecast for 2021. The firm projected N10.710 billion projection billion which is 37.75 per NEM Insurance Plc, a major financial 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 Mar-2021, unless otherwise stated. assets held by a REIT on a specific date.
cent higher than the N1.706 billion projected for Q1 2021.
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 150.29 150.93 -7.36% Afrinvest Plutus Fund 100.00 100.00 3.67% Nigeria International Debt Fund 353.44 353.37 -11.21% Afrinvest Dollar Fund 112.42 112.42 -0.27% 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 1.02 1.03 13.12% ACAP Income Funds 0.65 0.65 -11.09% AIICO CAPITAL LTD ammf@aiicocapital.com Web: www.aiicocapital.com, Tel: +234-1-2792974 Fund Name Bid Price Offer Price Yield / T-Rtn AIICO Money Market Fund 100.00 100.00 1.95% AIICO Balanced Fund 3.23 3.39 -8.77% 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 N/A N/A N/A Anchoria Equity Fund N/A N/A N/A Anchoria Fixed Income Fund N/A N/A N/A 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 17.98 18.52 -0.85% ARM Discovery Balanced Fund 399.95 412.01 -0.10% ARM Ethical Fund 35.13 36.19 4.22% ARM Eurobond Fund ($) 1.20 1.21 -1.74% ARM Fixed Income Fund 1.04 1.05 -6.62% ARM Money Market Fund 1.00 1.00 1.22% AVA GLOBAL ASSET MANAGERS LIMITED info@avacapitalgroup.com Web: www.avacapitalgroup.com Fund Name Bid Price Offer Price Yield / T-Rtn AVA GAM Fixed Income Dollar Fund 103.01 103.01 1.28% 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 120.43 121.27 -4.55% AXA Mansard Money Market Fund 1.00 1.00 2.26% CAPITAL EXPRESS ASSET AND TRUST LIMITED info@capitalexpressassetandtrust.com Web: www.capitalexpressassetandtrust.com ; Tel: +234 803 307 5048 Fund Name Bid Price Offer Price Yield / T-Rtn CEAT Fixed Income Fund 2.06 2.06 -22.67% Capital Express Balanced Fund(Formerly: Union Trustees Mixed Fund) 2.13 2.17 -25.65% 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 N/A N/A N/A Paramount Equity Fund N/A N/A N/A Women's Investment Fund N/A N/A N/A 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 1.91% Cordros Milestone Fund 2023 125.00 125.87 Cordros Milestone Fund 2028 N/A N/A Cordros Dollar Fund ($) 110.31 110.31 CORONATION ASSEST MANAGEMENT investment@coronationam.com Web:www.coronationam.com , Tel: 012366215 Fund Name Bid Price Offer Price Yield / T-Rtn Coronation Money Market Fund N/A N/A N/A Coronation Balanced Fund N/A N/A N/A Coronation Fixed Income Fund N/A N/A N/A EDC FUNDS MANAGEMENT LIMITED mutualfundng@ecobank.com Web: www.ecobank.com Tel: 012265281 Fund Name Bid Price Offer Price Yield / T-Rtn EDC Nigeria Money Market Fund Class A 100.00 100.00 1.91% EDC Nigeria Money Market Fund Class B 1,000,000.00 1,000,000.00 1.59% EDC Nigeria Fixed Income Fund 1,156.82 1,160.19 -3.58% 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 1,348.24 1,348.24 5.48% FBN Balanced Fund 179.96 181.22 -4.11% FBN Halal Fund 110.19 110.19 4.58% FBN Money Market Fund 100.00 100.00 2.01% FBN Nigeria Eurobond (USD) Fund - Institutional N/A N/A N/A FBN Nigeria Eurobond (USD) Fund - Retail 123.86 123.86 3.00% FBN Smart Beta Equity Fund 145.22 147.10 -3.94% 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 3,738.67 3,786.82 -1.69% Coral Income Fund 3,333.34 3,333.34 1.62% FSDH Treasury Bills Fund 100.00 100.00 1.42%
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 0.76% Nigeria Entertainment Fund 125.95 126.49 17.01% 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 1.27% Vantage Balanced Fund 2.62 2.68 14.28% Vantage Guaranteed Income Fund 1.00 1.00 4.50% Kedari Investment Fund (KIF) 154.36 154.74 -0.70% Vantage Dollar Fund (VDF) - June Year End 1.08 1.08 5.19% LOTUS CAPITAL LTD fincon@lotuscapitallimited.com Web: www.lotuscapitallimited.com; Tel: +234 1-291 4626 / +234 1-291 4624 Fund Name Bid Price Offer Price Yield / T-Rtn Lotus Halal Investment Fund 1.35 1.37 -1.38% Lotus Halal Fixed Income Fund 1,141.30 1,141.30 1.59% 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 1.58 1.61 7.53% PACAM Fixed Income Fund 12.23 12.35 -0.04% PACAM Money Market Fund 10.00 10.00 1.50% PACAM Equity Fund 1.56 1.57 -1.52% PACAM EuroBond Fund 109.45 112.14 0.04% 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 126.12 128.28 5.44% 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 1.21% STANBIC IBTC ASSET MANAGEMENT LTD assetmanagement@stanbicibtc.com Web: www.stanbicibtcassetmanagement.com; Tel: +234 1 280 1266; 0700 MUTUALFUNDS Fund Name Bid Price Offer Price Yield / T-Rtn Stanbic IBTC Balanced Fund 3,072.86 3,098.11 -4.44% Stanbic IBTC Bond Fund 226.94 226.94 0.93% Stanbic IBTC Ethical Fund 1.11 1.13 -5.08% Stanbic IBTC Guaranteed Investment Fund 297.32 297.32 0.90% Stanbic IBTC Iman Fund 210.29 212.88 -3.77% Stanbic IBTC Money Market Fund 100.00 100.00 1.84% Stanbic IBTC Nigerian Equity Fund 9,756.31 9,882.08 -7.09% Stanbic IBTC Dollar Fund (USD) 1.24 1.24 1.12% Stanbic IBTC Shariah Fixed Income Fund 111.87 111.87 0.71% 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 1.31 1.33 -4.01% United Capital Bond Fund 1.91 1.91 1.09% United Capital Equity Fund 0.87 0.89 0.68% United Capital Money Market Fund 1.00 1.00 2.84% United Capital Eurobond Fund 118.46 118.46 1.17% United Capital Wealth for Women Fund 1.06 1.07 -2.62% United capital Sukuk Fund 1.02 1.02 2.32% QUANTUM ZENITH ASSET MANAGEMENT & INVESTMENTS LTD service@quantumzenithasset.com.ng Web: www.quantumzenith.com.ng; Tel: +234 1-2784219 Fund Name Bid Price Offer Price Yield / T-Rtn Zenith Equity Fund 11.96 12.07 0.79% Zenith Ethical Fund 24.20 13.37 53.09% Zenith Income Fund 24.20 24.20 0.93% Zenith Money Market Fund 1.00 1.00 2.00%
REITS NAV Per Share
Yield / T-Rtn
121.84 52.76
0.91% 0.69%
Bid Price
Offer Price
Yield / T-Rtn
12.39 113.51 91.57
12.49 113.51 93.30
-6.25% -6.76% -7.84%
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
N/A N/A N/A N/A N/A N/A
N/A N/A N/A N/A N/A N/A
N/A N/A N/A N/A N/A N/A
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.
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24 HOURS...
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12 Govs, Others Take COVID-19 Vaccine Jab This Week Our Correspondents Governors Aminu Tambuwal of Sokoto State, Darius Ishaku of Taraba State, Bello Matawalle of Zamfara State, Simon Lalong of Plateau State, Inuwa Yahaya of Gombe State, Ifeanyi Ugwuanyi of Enugu State, Seyi Makinde of Oyo State and Nyesom Wike of Rivers State are among the remaining 12 governors, who are expected to take the COVID-19 vaccines this week, alongside their deputies and other top government officials. Others who are also to take their COVID-19 vaccine jab this week include: Governors Ben Ayade of Cross River State, Udom Emmanuel of Akwa Ibom State, Godwin Obaseki of Edo State and Abubakar Bagudu of Kebbi State. Kogi State Governor, Alhaji Yahaya Bello, who is yet to take the vaccine, has since rejected the vaccine, claiming that there is no COVID-19 in his state.
Minister of State for Health, Dr. Olorunnimbe Mamora, had reportedly said the federal government won’t force any state to accept COVID-19 vaccines. Mamora was reacting to a statement by Bello, that he won’t take the vaccines, stressing that residentsof his state are not “guinea pigs”. THISDAYhowevergatheredthatthe otherremaining12stateshavereceivedtheir consignments, awaiting to commence vaccination. Forinstance,SokotoStategovernment hasintheearlyhours of Thursday taken delivery of consignments of the OxfordAstraZeneca COVID-19 vaccines from the federal government. Atotalof68,660dosesweredelivered to officials of the state government at the Sultan Abubakar III international airport. The state Commissioner for Health and Chairman of the COVID-19 taskforce, Muhammad Ali Inname, said the state has adequate storage facilities for the vaccines.
Gunmen Attack Police Base in Bauchi, Kill Inspector, Civilian Gunmen have interrupted the peace in Bauchi State as they attacked Naborodo safer highway Patrol Axis of the state Police Command along Bauchi-Jos road and killed a 35-year-old Inspector and one other person. In a statement issued last night, the Bauchi State Police Command, through its Public Relations Officer, Ahmed Wakil, stated that the incident occurred on Saturday. Wakil disclosed that the civilian was shot by a stray bullet and was rushed to the Abubakar Tafawa Balewa University Teaching Hospital, Bauchi where he died. “Bauchi State command regrets to announce that on Saturday, March 14, 2021, at about 9.30pm, an attack was unleashed at the Naborodo safer high way Patrol Axis of the Bauchi State Police Command, on police officers patrolling Bauchi – Jos road, by unknown armed men. “The incident, which was indeed a very unfortunate one and resulted in the death of a Police officer, Inspector Mukhtar Ibrahim, Male, (35) who was shot dead by the assailant and one Uba Samaila, civilian, male (33) a resident of Naborodo town, who was hit
by a stray bullet, but later died at the Abubakar Tafawa Balewa Teaching Hospital (ATBH) while receiving treatment.” He said that the service rifle of the deceased with beach NO.32486 has been recovered by the Police. He added that the corpses of the victims have been released to the families for burial, according to Islamic right. The Police Spokesman stated that more patrol teams have been deployed to the A area while security men have embarked on stop and search with a view to tracking down the hoodlums. He assured that “so far, calm has been restored in the area and citizens can go about their normal businesses without let or hindrance.” He said that: “The Bauchi State Police Commissioner, CP Sylvester Alabi, regrets the ugly incidence and has condoled with the bereaved family over the irreplaceable loss. He has also ordered a full-scale investigation of the matter. “The Bauchi State Police Command would therefore not relent on this; it will dig deep into the matter and find a lasting solution to this security breach.
Police Arrest One Suspect over Assassination of CP’s Wife George Okoh in Makurdi The Benue State Police Command has disclosed that one person has been arrested over the killing of Mrs. Eunice Aganya, the wife to retired Commissioner for Police, Ebezimako Aganya, who resides in Austin Iwar street, off David Mark Bye-pass in Makurdi, the state capital. According to a statement issued by the state Police Public Relations Office (PPRO), a Deputy Superintendent of Police, Sewuese Anene, the police moved in swiftly to investigate and arrest the suspect when an alert was raised that the victim could not be seen by her co-chiefs who had planned to pay a courtesy call on a royal father in Makurdi. She said police detectives,
who received the report, swiftly moved to her house where she resided alone behind her bakery. It was reported that her car was seen parked in front of her gate and her fence broken into, but her doors were locked. The team noticed blood stains on the window of the deceased and curiously broke into the house where they found the lifeless body lying in a pool of blood with a deep cut on her head. Anene said the state Commissioner of Police, Audu Madaki, has ordered a full scale investigation by detectives of the command Criminal Investigation Department, adding that no stone will be left unturned to apprehend the culprits. The victim’s corpse, according to the police, has been deposited at a mortuary in Makurdi.
Kebbi State government, at midnight of Wednesday, took delivery of 57,810 doses of COVID-19 vaccine. The State Commissioner of Health, Ja’afar Muhammed, said the
first set of people to be vaccinated across the state was frontline health workers, which will be followed by other health workers and journalists. Others to be vaccinated are political leaders in the state, military
personnel, police officers and men, paramilitary personnel, bank officials and other members of the public. Plateau State Government also took delivery of 105,600 doses of the Oxford-Astrazeneca vaccines.
However, the state government has declared that health workers that would besaddledwiththeresponsibility ofadministeringthevaccineswillundergo one-week training before it is rolled out.
NBA WEEK ON THEIR MINDS…
L-R: Treasurer, Ado-Ekiti Branch of the Nigeria Bar Association (NBA), Ms. Oluwaseyi Ebenezer; Chairman of the branch, Mr. Adeyemi Adewunmi; Minister of Industry, Trade and Investment, Mr. Adeniyi Adebayo; and Vice Chairman of the branch, Ms. Abigail Aladejare, during their visit to the minister …weekend
ASUU Threatens Fresh Strike Ejiofor Alike The Academic Staff Union of Universities (ASUU) has threatened to resume its suspended strike over nonpayment of salaries and alleged victimisation of members. The chairman of the University of Ibadan branch of ASUU, Prof. Ayo Akinwole, in a statement issued yesterday asked Nigerians to blame the federal government if
the union embarks on fresh strike. Akinwole alleged that despite accepting ASUU’s condition before the strike was suspended on December 24, 2020, the federal government still owed many lecturers salaries of between two and 10 months. “While ASUU as a union, and her members as individuals in various branches have remained faithful to this agreement by returning to classes and
performing their respective duties, the federal government, true to type, has reneged on its part. “Contrary to FGN affirmation of its commitment to pay all withheld salaries of ASUU members who have not enrolled in the Integrated Personnel and Payroll Information system (IPPIS), three months after the suspension of Strike, thousands of ASUU members across various branches are still being owed salaries.
“Instead of deploying the University Transparency and Accountability Solution (UTAS) software developed by ASUU, which has been adjudged effective for payment of salaries, some of our members are still being denied their salaries and others are being coerced by agents of the government to register on the repressive IPPIS for payment of salaries.
Suspected Gunmen Shoot Commuter Dead At Ondo-Ekiti Border Victor Ogunje in Ado Ekiti Persons suspected to be kidnappers have again launched an ambush on travellers along Ado-Ikere-Akure road, shooting one commuter dead while trying to abduct occupants of a vehicle traveling on the road. The incident was about the seventh one in the state recently,
with casualties recorded in most cases. It was learnt that victims of the latest attack were ambushed last Saturday evening at a location between Ikere and Iju in Ondo State, a border town with Ekiti State. The victims were said to have been waylaid after the hoodlums suddenly came out from the bush
to stop their vehicle with guns. A source said: “The vehicle carrying over seven persons was said to have been ambushed between Iju and Ikere Ekiti; however, while the driver was trying to escape perceived abduction, the suspected gunmen rained bullets on the vehicle, killing one of the occupants.” Shedding more light on the
incident in Ado Ekiti yesterday, the spokesman for the state Police Command, ASP Sunday Abutu, said one person lost his life during the attack. According to the police spokesman, the passengers on a Sharon mini bus involved were coming from Ondo State to Ekiti when the incident happened.
Tiv People in USA Tackle Wase for Rejecting Their Petition Sunday Okobi in Lagos and Udora Orizu in Abuja The Tiv people in the United States of America (USA) have decried what they described as the neglect and humiliating treatment allegedly given to their petition by the House of Representatives leadership, adding that their petition on the condition of their people in Benue State was allegedly rejected recently. The people under the umbrella of Mutual Union of Tiv in America (MUTA) stated that the Deputy Speaker of the House, Hon. Ahmed Idris Wase, recently
dismissed Hon. Mark Gbillah, representing Gwer East federal constituency of Benue State, when the later attempted to present a petition to the House on behalf of the Tiv people. Wase had stated that Nigerians abroad are not eligible to file petitions against the federal government on issues regarding crimes linked to herdsmen. Wase who stood in for Speaker, Hon. Femi Gbajabiamila, during last Thursday’s plenary, rejected a petition filed by MUTA on insecurity in Benue, Nasarawa, and Taraba states. In a statement issued and
made available to THISDAY yesterday by MUTA President, Mr. Simon Kusugh, and MUTA IDP Committee Chairman, Professor Joseph Zume, the group viewed the Deputy Speaker’s action as “highly reprehensible, given that the subject of our petition addressed the fate of thousands of authentic Nigerian citizens who have been displaced from their communities for years. “As national representatives of Nigerians, the honorable members should ordinarily be expected to empathise with those hapless citizens they represent, whose normal livelihoods have
been truncated by unfortunate circumstances. Obviously, that was not indicated as no member present attempted to persuade the Deputy Speaker to allow Gbillah present our petition.” According to the statement, “As Tiv people of Nigeria living in America, we are rightful stakeholders in the affairs of Nigeria, especially issues that directly impact the lives of our kith and kin. As far as the petition we sent to Gbillah goes, many of us have relatives who were either killed or displaced by the violence that was unleashed on our communities.
Alleged Fraud: EFCC Detains Ondo Assembly’s Clerk,Three Others James Sowole in Akure The Economic and Financial Crimes Commission (EFCC) has detained the Clerk of Ondo State House of Assembly, Mr. Bode Aladeyelu; a member of the Assembly, Felemugudu Bankole, and
two civil servants over an allegation of fraud. It was earlier reported that the anti-graft agency invited the alleged persons over the fraud case allegedly committed in 2019, and were said to have been in detention of the agency since last week.
It was gathered that the alleged persons responded to the invitation of the anti-graft agency by reporting at the commission’s office where they were said to have been detained. The source said: ‘It is true! The Clerk of the state House of Assembly, and Hon. Felemu
Gudu Bankole along with two civil servants in the Assembly are in the EFCC custody. “Based on that invitation, all of them went there and were detained last Thursday. I think the EFCC must have commenced their investigation into their matter.”
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Two Suspected Kidnappers Die of Gunshot Injuries in Abuja The Federal Capital Territory (FCT) has confirmed that two suspected kidnappers have died of gunshot injuries after a gun battle with its operatives yesterday. In a statement issued yesterday, the police spokesperson, Mariam Yusuf, who said that the deceased died while receiving treatment at the hospital, added that the incident occurred at Naharati village along the Abaji axis. The police spokesperson,
Mariam Yusuf, said the deceased died while receiving treatment at the hospital. She also disclosed that the command had launched a manhunt for the other fleeing suspects. Yusuf added that police operatives from Gwagwa Division, had during a routine patrol on Friday, arrested five suspects for cultism and ‘one chance’ robbery along Gwagwa and Lugbe axis. “The suspects confessed to being
members of Aro Baga confraternity terrorising Gwagwa axis. Exhibits recovered are one locally-made revolver pistol and two unexpended catridges.” According to her, the police
also arrested a 24-year-old female, Blessing Nuhu and one Ifeoma Nnamuchi, the alleged leader of the four-man ‘one chance’ syndicate operating along LugbeGaladimawa axis.
She explained that two members of the gang, Charity Timothy 23 and Sunday Godwin, 23, had been arrested earlier on March 1. “The suspects confessed to
terrorising residents along that axis. Exhibits recovered include a red Volkswagen car with registration number, BWR 903 HE, and one mobile phone.
Bauchi First Lady Moves against Sexual, Gender-basedViolence Segun Awofadeji in Bauchi The Bauchi State First Lady, Hajiya Aisha Bala Mohammed, at the weekend said the state government had established a committee on sexual and genderbased violence (GBV) in order to address rapes cases and violence against women in the state. She stated this during the inauguration of the state office of the National Council of Women Society (NCWS) in Bauchi. According to her, the committee was set up in view of government’s concern over the plights of women, and its determination to address their problems. The first lady commended various stakeholders in the state for ensuring the enactment of Violence Against Persons Prohibition (VAPP) law, noting
that the committee was formed to enforce the law. Mrs. Mohammed said: “The committee has so far achieved a lot in terms of enlightenment on sexual and gender-based violence which led to the reduction of the menace. I call on women to support any move that will ensure their protection.” Earlier in her speech, the state Chairperson of the NCWS, Shafa’u Ladan, explained that the national council of women society was established with the aim of improving the welfare, progress and standard of living of women in Nigeria. She advised women to rise up and face the challenges hampering their development by acquiring education and participation in the scheme of things in the country.
AGF to Appear Before Senate Panel over N57.6bn FG Grant Deji Elumoye in Abuja The Senate Committee on Public Accounts has invited the Accountant General of the Federation (AGF), Idris Ahmed, to appear before it to give details of the N57.6 billion grants released by the federal government in 2017. The AGF is billed to appear before the Senator Matthew Urhoghide-led committee tomorrow with a list of the beneficiaries of the N57.6 billion grants to state governments, public and private-owned companies, and contributions to international organisations, among others. The committee is being guided by the 2017 report of the Office of Auditor General of the Federation (AuGF), which queried the AGF over the non-disclosure of those that benefitted from the federal
government grant. The query read: “Examination of Note 14 (Grants and Contributions) as well as the statement of financial performance revealed the following: ‘the budgetary provision for grants and contributions was not disclosed in the notes to the accounts. This contravenes the provisions of IPSAS 24 (Presentation of Budget Information in Financial Statements). “The sum of N57,624,929,461.05 (Fifty-seven billion, six hundred and twenty-four million, nine hundred and twenty-nine thousand, four hundred and sixty-one naira, five kobo) was granted by the Federal Government of Nigeria as grants and contributions which represent transfers to domestic and foreign governments, public and privateowned companies, academic institutions and internationals for 2017.
Oyo Community Gets 600-capacityYouth Centre The Minister of Sports and Youth Development, Chief Sunday Dare has attracted a 600-capacity youth vocational centre to Ogbomosho just as the Chairman of the National Lottery Regulatory Commission (NLRC), Alhaji Fatai Ibikunle has commended the quality interventions of the minister in rehabilitating the victims of SASA market mayhem and prompt facilitation of grants for rural women in Oyo State. Senior Special Assistant to the President on Sustainable Development Goals (SDGs), Princess Adejoke Orelope -Adefulire
announced the decision of the federal government to build the vocational centre in Ogbomoso during the installation of Dare as the Agbaakin of Ogbomoso land at the palace of Soun of Ogbomoso land, Dr. Oladunni Oyewumi, Ajagungbade III Adefulere disclosed that she was in the palace to felicitate with the minister on the well-deserved royal recognition and honour and to personally inform the highly revered Monarch of the birth of the vocational centre in Ogbomosho.
OPERATION CLEAN-UP LAGOS...
L-R: Managing Director, Lagos State Signage and Advertisement Agency (LASAA), Prince Adedamola Docemo; Head of Department, Mobile Advert, Mr. Bayo Aluko; Deputy General Manager, Corporate Communications and Strategy, Mr. Temitope Akande; and Special Adviser on Operations, Mr. Adegbolahan Dixon, during the deployment of new pressure machines for poster clean-up exercise of the agency in Lagos... weekend
SERAP Sues Buhari over Move to Borrow N895bn from Dormant Accounts Udora Orizu in Abuja Socio-Economic Rights and Accountability Project (SERAP) has filed a lawsuit asking the Federal High Court in Abuja to restrain and stop President Muhammadu Buhari
and the federal government from borrowing an estimated N895billion of Nigerians money in the form of their unclaimed dividends and balances in dormant accounts. The suit followed recent move by the federal government to take over and borrow unclaimed
dividends and dormant account balances owned by Nigerians in any bank in the country. However, the same legislation explicitly excludes dormant official bank accounts by all branches of government and their agencies. Those joined in the suit as
defendants are theAttorney General of the Federation,Abubakar Malami; the Senate President, Ahmad Lawan; the Speaker of House of Representatives, Femi Gbajabiamila, and the Minister of Finance, Budget and National Planning, Zainab Ahmed.
Criminal Trial of Petro Union, Directors to Continue in Lagos Davidson Iriekpen A Federal High Court in Lagos has fixed May 5 to continue the criminal trial of Petro Union Oil and Gas Company Limited and its officials. The presiding judge of the court, Justice Mohammed Liman fixed the date after the prosecution, the Economic and Financial Crimes Commission (EFCC), presented
a key witness from the Central Bank of Nigeria (CBN) in the case. The four Directors, Abayomi Kukoyi (trading under the name and style of Gladstone Kukoyi & Associates), Prince Kingsley Okpala, Prince Chidi Okpalaeze and Prince Emmanuel Okpalaeze are facing a 13-count charge, including alleged forgery, conspiracy, obtaining by false pretences, procuring and uttering
a Barclays Bank cheque in the sum of £2.556 billion, and fraud. They were also alleged to have sometime in April 2007, forged a statement of account purported to have been issued by the CBN in the name of Goldmatic Limited, which was used to obtain judgment in the sum of £2,159,221,313.54 billion from the Federal High Court. According to the EFCC
prosecutor, Mr. Rotimi Jacobs (SAN), the offences are contrary to, and punishable under sections 1(2), 1(2)(a) of the Miscellaneous Offences Act, Laws of the Federation of Nigeria, 1990. He also maintained that the offences are contrary to and punishable under sections 509, 467(2)(I) and 468 of the Criminal Code Act, Laws of the Federation if Nigeria, 2004.
House Committee Gives 17 NNPC Subsidiaries Seven-day Ultimatum to Appear or Risk Arrest Adedayo Akinwale in Abuja The House of Representatives Public Accounts Committee (PAC) has given the management of the 17 subsidiaries of the Nigerian National Petroleum Corporation (NNPC) a seven-day ultimatum to appear before it or risk arrest. The ultimatum given by the committee to the NNPC
subsidiaries was due to the refusal of the agencies to render their financial accounts over the years to the office of the Accountant General of the Federation. The committee also ordered about 25 other Ministries, Departments and Agencies (MDAs) to appear before it for non-rendition of their accounts within the same time.
The affected MDAs are the Ministry of Finance, Budget and National Planning; Ministry of Interior; Ministry of Works and Housing; Federal Inland Revenue Services; Ministry of Industry, Trade and Investment; Zenith Bank Plc headquarters; Financial Reporting Council of Nigeria; Ministry of Justice and the Nigeria Immigration Service.
Others are Nigeria Electricity Regulatory Commission; National Library of Nigeria; Fiscal Responsibility Commission; the Presidential Amnesty Programme; Standard Organisation of Nigeria; Industrial Training Fund; National Lottery Trust Fund; West African Examination Council; Nigerian Football Federation, and the North East Development Commission.
AIKHOMU: A MAN WHO RETURNED TO FOREVER With immensely clear vignettes from a life well lived, Joe had a consequential existence with absolute exhilaration that succeeded admirably in portraying both in character and substance in very lively narratives, and in such triumphant ways that endeared him to many from all walks of life. Perhaps, Joe’s most appealing attributes and legacy was the use of his gift and talent to effortlessly bring laughter and happiness when there was sorrow and sadness. He mastered these gifts and talents and used them cleverly to build and nurture constituencies
across barriers of tribe, ethnicity, religion, space, time, distance and culture. For these attributes and more, I consider myself fortunate to have witnessed and shared in Joe’s incomparable legacy and to have been in the shadow of his path of dignity and honour. Nwokem, during one of your many visits to my home town, Awka, you asked that a full citizenship of the town be conferred on you. You asked that a piece of land be reserved in this town for a home for your retirement. I was working on these requests when I was informed by
General Emeka Onwuameagbu that he and the people of Oba were processing these same requests on your behalf. With all the “palliatives” in Awka, how could you make any other choices? Joe, in your loss, I lost hope. I lost the joy to talk, to laugh, to hug, to feast, to be together and to do those things that brought us happiness. I have lost the dreams that we spent time building. In your loss, I have gained gratitude. Gratitude to God that your life, even in death, gives my heart and hands to the common purpose of goodness, hope and a
commitment to our world’s past, present and future. My Nwokem, where have you gone? What will happen to all our plans, our aspirations, our prayers and hopes? You will forever occupy an indelible and unique place in my heart and in my home, and in the hearts of everyone that ever had the rare privilege of coming in contact with you. The World Misses You. Go In Peace, My Brother, My Friend. r%S "OVFZJBHV XSJUFT GSPN *LPZJ -BHPT
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Group Sports Editor Duro Ikhazuagbe Email duro.ikhazuagbe@thisdaylive.com 0811 181 3083 SMS ONLY
PREMIER LEAGUE
Red-hot Iheanacho Scores First Hat Trick as Leicester Crush Sheffield Utd Dedicates his three goals to all mothers around the world Duro Ikhazuagbe Kelechi Iheanacho scored his first ever hat trick in the English Premier League as Leicester City hammered hapless Sheffield United 5-0 to keep on course Foxes top four finish dream this season. The Super Eagles forward has scored in his last three consecutive games with a five-goal tally to show for his new devastating form. The defeat condemned the Blades to the bottom of the English topflight and are now sure candidates for relegation. The departure of manager Chris Wilder and the take over of the Blades by Under-23s boss, Paul Heckingbottom, appears not yielding any positive result. Speaking with reporters shortly after his first ever hat-trick for Leicester on Mother’s Day, Man of the Match, Iheanacho dedicated his goals to all mothers around the world. “ I’ve been waiting for this day to come. I’m grateful to God, my teammates and my manager for for helping me grow. “I wish everyone a happy
Mother’s Day. I dedicate this match ball to all the mothers in the world. (On playing with teammate Jamie Vardy), the Nigerian international said: “Playing with him is a joy, he makes so much space for me. I’m really happy, I’m delighted. Even when he’s not scoring he’s helping the team to win. “It was the first win at home for a while and it’s a clean sheet as well so we’re all really happy. “The gaffer made it clear when he came in that we need to keep going. We’re getting very near to the top, hopefully we (can) finish near there,” gushed Iheanacho as he walked away with the match ball tucked under his armpit. Leicester were far superior at King Power Stadium yesterday afternoon. Iheanacho continued his fine goalscoring form as the Foxes ran riot in the second half. Iheanacho scored the first of his three goals when he met Jamie Vardy’s cut-back to break the deadlock shortly before the interval. Ayoze Perez had come closest to an early opener with a flicked header that Aaron Ramsdale diverted onto the post, but the Spaniard got the goal his
performance deserved with a fine finish into the bottom corner after 64 minutes. Iheanacho got his second from Vardy’s excellent pass five
minutes later, before the Nigeria international’s powerful strike sealed his treble. Vardy thought he had ended a six-game goal drought with
his shot 10 minutes from time, but Blades defender Ethan Ampadu made the decisive touch. Leicester move into second
place, above Manchester United, who played West Ham in a late fixture last night while Sheffield United remain at the bottom on 14 points from 29 games.
Kelechi Iheanacho scored his first hat-trick as Leicester City defeated Sheffield United 5-0...on Sunday after.
PHOTO: Getty Images
Fury Aims Fresh Dig at Joshua in Proposed £200m Mega-fight Tyson Fury has aimed a fresh dig at heavyweight rival Anthony Joshua as the Gypsy King insisted he could ‘drink 14 pints’ and still defeat the WBO, WBA and IBF champion. An agreement over a £200m unification bout between Fury and AJ is believed to be close, with the victor set to become the first heavyweight to hold all the belts simultaneously since Lennox Lewis in 1999. The three promoters at the centre of the talks, Eddie Hearn, Frank Warren and Bob Arum, have all spoken enthusiastically about a deal being agreed with
the latter declaring recently that all the issues holding up the announcement have been resolved. However, the Gypsy King has been in peculiar mood of late, revealing earlier this week that he is on holiday ‘drinking up to 12 pints a day’ and has stopped training altogether. Fury, who says he has been left in the dark over the proposed deal, has already ramped up the mind games, insisting that he does not need to be in peak condition to defeat his British rival. “I could drink 14 pints of beer
NPFL: Rangers Win to Pile Pressure on Kwara Utd at the Top Rangers International defeated bottom placed Adamawa United 1-0 to pile on the pressure on NPFL leaders Kwara United, who barely held on to top spot after a scoreless draw at home with Heartland. Both Kwara United and Rangers have 27 points from 15 matches, but the Kwara team stay top by virtue of their better goals difference. However, the Flying Antelopes needed a late goal by Chinonso Ebekwe to subdue Adamawa United at the Cathedral in Enugu. Abia Warriors continued their resurgence with a 4-1 thrashing of Kano Pillars at home. Obioma Chukwuemeka grabbed a brace with Godwn Obaje and Daniel Wotlai also getting among
the goals. The Umuahia club are now 10th on the table with 20 points. Lobi Stars beat Plateau United 3-2 to climb to ninth in the standings with 22 points. There was also a home win for Dakkada to worsen Katsina United relegation problems. Katsina remain 17th on the table with 15 points, two points from safety. MATCH-DAY 15 Kwara Utd 0-0 Heartland. Abia Warriors 4-1 K’Pillars Sunshine 0-0 Nasarawa Wikki 1-0 Warri Wolves Rangers 1-0 Adamawa Lobi 3-2 Plateau Utd IfeanyiUbah 0-0 Rivers Utd Dakkada 1-0 Katsina Utd *Sunshine 0-0 Nasarawa (*2nd half to be concluded at 8am)
and still give AJ a hiding, no problem,” the WBC champion told MTK Global live via talkSPORT. “Everyone in the building knows more about this fight than I do actually. Apparently it’s done, it’s signed, we’ve got a date, venue – news to me, I don’t know anything… “I’m looking for a challenge, I’ve been looking, searching the world for 13 years as a professional to find a man who can better me. I just can’t find him.” Fury doubled down on his view that he need not train excessively for his rival champion, adding that he only needs to spar “local binmen and strongmen” to prepare for AJ’s body type. “I’m not training anymore. Until I get a date, then I go back into training camp,” he added. “I only need six, seven weeks anyway for these bums and that’s it. “I don’t need no big, great sparring partners for a
methodical bodybuilding type of guy. I just need the local binmen, firemen and local strongmen.” Fury was last in action in
February 2020 when he put in a career-best performance to defeat knockout artist Deontay Wilder in Las Vegas for the WBC belt.
The American has long called for a trilogy bout with the Gypsy King, offering up a plethora of excuses for his poor display.
Anthony Joshua (left) and Tyson Fury are presently engaged in mind games since the announcement of a deal on their unification bout of the heavyweight category
Aruna Quadri Awaits World Ranking for Tokyo Olympics Ticket Africa’s number one table tennis player, Nigeria’s Quadri Aruna is hoping to pick his ticket to Tokyo 2020 Olympic Games from the world ranking after his unsuccessful efforts at qualifying for Tokyo 2020 Olympic Games through the World Singles Qualification Tournament (WSQT) in Doha, Qatar. Listed among the 73 men competing at the WSQT and seeded number two behind England’s Liam Pitchford, Aruna yesterday fell to
Russian sensation Vladimir Sidorenko 4-2 (11-3, 11-13, 11-6, 9-11, 4-11, 7-11) to miss out from picking the ticket from WSQT. Despite expressing disappointment over his performance against the Russian who last week edged out Egypt’s Omar Assar from the World Table Tennis (WTT) Star Contender, Aruna is optimistic that with his performance at the WTT Contender Series and Star Contender, his spot in Tokyo
is certain. “It was not what I expected but all hope is not lost as I am still the second rated player in the world among the ranking of those who are yet to pick their tickets to Tokyo. “For now, the ranking will remain like this as there are no tournaments again until May when the final list would be made public. I will continue to train in readiness for the games as I only need the final confirmation from ITT
to be listed for Tokyo 2020,” Aruna said. Nine places were up for grabs at the World Singles Qualification Tournament (WSQT) taking place at the Ali Bin Hamad Al Attiya Arena in Doha, Qatar. Hosted and organised by the Qatar Table Tennis Association (QTTA), under the auspices and authority of the International Table Tennis Federation (ITTF), four spots will be reserved for men while another five set aside for women.
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Boxing Great, Marvelous Marvin Hagler, Dies at 66 Marvelous Marvin Hagler, who dominated boxing’s middleweight division in the 1980s, has died at the age of 66, his wife Kay said on Saturday (March 13). The cause of death was not immediately known. Celebrity website TMZ reported that he was taken to hospital in New Hampshire on Saturday with chest pains and trouble breathing. Hagler, who legally changed his name to Marvelous in 1982, posted a record of 62-3-2 and ruled supreme until his reign as undisputed middleweight champion came to a controversial end in 1987 with a loss to Sugar Ray Leonard. “I am sorry to make a very sad announcement. Today unfortunately my beloved husband Marvelous Marvin passed away unexpectedly at his home here in New Hampshire. Our family requests that you respect our privacy during this
difficult time,” Kay Hagler posted on the Marvelous Marvin Hagler Fan Club page on Facebook, reports Reuters. Regarded as one of boxing’s great champions and best poundfor-pound fighters, Hagler was knocked down just once in 67 professional bouts while 52 of his wins came by way of knockouts. A member of both the World and International Boxing Halls of Fame, he was twice named
Fighter of the Year by The Ring magazine. “Rest In Peace Marvelous Marvin Hagler. Boxing lost an all time great today,” promoter Frank Warren posted on Twitter. Hagler’s 14-year career is best remembered not for a single fight but one round, the first in his 1985 battle with Thomas “The Hitman” Hearns that became known as “The War”.
Hagler celebrates after defeating Roberto Duran for the WBA, WBC and IBF middleweight titles in 1983 at Caesars Palace in Las Vegas
Arsenal Fightback to Beat Spurs in North London Derby Tottenham’s Erik Lamela scored a stunning ‘rabona’ goal but was later sent off as Arsenal came from behind to win a thrilling north London derby 2-1. Lamela’s wonderful strike put Spurs ahead but Martin Odegaard swept Arsenal level from Kieran Tierney’s cross. Alexandre Lacazette completed the turnaround
from the penalty spot after being fouled by Davinson Sanchez. Lamela was sent off for a second yellow card after catching Tierney in the face before Harry Kane hit the post late on. Elsewhere, Leandro Trossard’s emphatic finish settled an entertaining southcoast contest as Brighton
defeated Southampton 2-1. Danny Welbeck’s deft touch freed the Belgium winger to stride into the box and lash home. The victory halted a threegame losing streak for Potter’s Seagulls, who climbed a place to 16th above Newcastle, three points clear of 18th-placed Fulham and with a game in hand.
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BACKPAGE CONTINUATION AFRICA MISSING FROM THE VACCINE LABORATORY effective vaccine was developed and accepted by health authorities. It was therefore reasonable to expect that a vaccine would take 5 to 10 years to develop. But they were wrong! The advancement in technology has shortened the delivery period of most human needs. The way vaccines were developed in those days is different from how they are made today. There are four basic approaches for making a vaccine going by existing medical literature. They are the RNA, the Viral Vector, the Whole Virus, and the Protein Subunits. All these approaches either use a harmless version of the virus or a synthetic version to trigger an immune response. So, the whole essence of the vaccine is an immunity play. Rather than being understood as an external body introduced to prevent the virus from infecting the vaccinated, the vaccine, should be understood as an external agent whose job is simply to arouse the body’s immune system to defend the body once it comes in contact with the virus. Before now, vaccines were produced by injecting passive virus proteins called antigens to stimulate the body’s immune system so that they can identify specific virus and produce antibodies in response. These antibodies are expected to fight, not only the virus in the body, but also develop a reserve army of antigens to fight future virus infections. This is usually a very long process that is also susceptible to some ‘inexactitude’. The fastest way to make a vaccine is the Ribonucleic Acid approach (RNA) also known as mRNA where m stands for messenger. This system is very easy to understand. We all know that the coronavirus is introduced into the body through the nose or mouth. Once introduced, it attaches itself to the cells in the body and releases its acid into the cell which transports the virus and makes long viral proteins which ultimately compromises the body’s immunity. Having done this, the virus is energised, multiplied and transported to other parts of the body. On account of the fact that the immunity system has been thus weakened, the infected person is susceptible to all types of sicknesses and if he had an underlying health issue before then, he stands a bigger risk of succumbing to any severe sickness and in extreme cases, death. The virus having taken over the body of one person, can be easily transported to other persons through body fluids, like sweat, saliva and other droplets. Therefore the best way to avoid the virus is to keep a reasonable distance from infected persons. RNA vaccines work in such a way that
a small fragment of the virus’s genetic code gets injected into the body and produces part of the Coronavirus which kicks the body into mounting a defence against the deadly virus. You may call it fighting the virus with a virus. This is the technology used by the Pfizer/ Biontech and the Moderna Vaccines. The third big name in Covid-19 vaccine production is the Oxford/AstraZeneca. This vaccine is also based on the RNA system. The only difference is that it uses a harmless virus to carry its own genetic material into the body. The fourth brand of vaccine is the one made by Johnson & Johnson, which goes by the brand name Janssen. This is made by the same technology as the Oxford/AstraZeneca vaccine. A fifth introduction into the Covid-19 vaccine market is the Novavax Vaccine, code named NVX-CoV2373. This is the only one made using the old technology which harnesses protein from the virus which is used with a chemical to kick the immune system into action once it is injected into the body. It is instructive that all the vaccines mentioned above are made in Europe or America. China and Russia have also launched and started administering their own vaccines. China developed Sinovax, Cansino and Sinopharm vaccines and have started shipping to countries in Asia and South America. Reports have it that these vaccines are effective. Russia, on its side developed the Sputnik V vaccine made by Gamaloya Research Centre and has been using it to inoculate its people. Sputnik V is said to work the same way as AstraZeneca and is also effective. All the vaccines considered above, even though are targeting the same virus, have different characteristics, work differently and are stored under different temperatures. While some require extremely low temperatures, others can be stored under room temperature. While some have near perfect efficacy levels, others have relatively low efficacy levels. Many require two doses while some require only a single dose. Of course, they come at different price levels even though most countries administer them to their citizens free of charge. We shall consider a table below where these properties are highlighted for ease of comparison. Make
Efficacy (%)
Pfizer/Biontech Moderna Janssen Oxford/AstraZ Novavax
95 94 66-85 63-82 89
No of Doses 2 2 1 2 1
Full Dose Temp © Price $39 $74 $20 $6 $16
-70 -20 -20 Room 2-8
Health Minister, Osagie Ehanire Please note that while the Russian Sputnik V is claimed to have 92% efficacy level, China’s Sinovac is said to be 50% efficacious. These numbers are yet to be verified by the WHO. Interestingly, the vaccines are said to be effective in containing the new UK and South African variants of the virus. What has not been confirmed is how long the vaccines can keep the body protected against Covid infection. The Nigerian government received close to 4m doses of the AstraZeneca vaccine recently and has already started to administer them to the populace, beginning with the President and his Vice. Oxford/AstraZeneca vaccines are from a weakened version of a virus known as “adenovirus” taken from chimpanzees. It is modified to look more like the coronavirus, but it cannot act like the virus. Injecting it into the body teaches the immune system how to fight the real virus. Of all the certified vaccines, AstraZeneca is the easiest to use and seems to have been made for the underdeveloped world, not just because it can be stored at room temperature, but because it is very cost effective. In addition, the second dose can be delayed as the first one can protect the body for a while, quite unlike other two-dose vaccines. The whole pandemic phenomenon has generated quite some controversy since its advent. Some people argue that it is a scam, while some others insist that it was created in a laboratory in Wuhan, China. Some other theorists contend that it was a capricious campaign launched to reduce world population and eliminate some people of a particular race
or income group. There was also the bizarre link of the vaccine with the 5G technology. Clearly, the development of the vaccine has not been left out of the controversy. Some people have argued that a vaccine certificate was in the offing which would entitle holders to enter some certain places to the exclusion of others and to travel by air. When you put all those together, you can better begin to appreciate the scepticism amongst some people with regard to the vaccine. Criticisms have trailed the choice of AstraZeneca vaccine by the Nigerian government. Some of those critics have limited information about the vaccine. Granted that countries like Austria, Denmark, Norway, Iceland and Thailand which hitherto embraced the vaccine have suspended its rollout, following reports of deaths after the vaccine, blood clot and a few other side effects, it is important to state that there is no medication that does not have risks associated with it. Even the common Panadol pain killer, which some people swallow like food, is associated with the risk of liver compromise. We must therefore always differentiate between safety and risk. By the time we do this, we would realise that while the vaccine could be safe, it remains risky like many other things in life. The risks are the side effects and many of them have been listed. What is important is not whether there are risks but balancing the risks with the benefits. If the benefits far outweigh the risks, medical experts will go with the option. Sometimes the course of treatment would present very heavy risks, but experts would continue to recommend it based on the possible benefits and lack of viable alternatives. For instance, chemotherapy is known to be very violent to patients, but the alternative is to watch the patient get devastated by cancer. Oncologists still recommend chemotherapy to cancer patients despite the risks. I believe Africa missed the chance of participating in the vaccine race when it neither seriously pushed the opportunities presented by Madagascar nor that of Senegal. No African country was serious with dedicating funding to support research and development efforts aimed at producing an African vaccine quite unlike what other countries did. It is already late in the day as many vaccine candidates are at different stages of the process of adoption. We should at the minimum educate our people about the products of other countries which is what we have attempted to do here. We should also ensure that everyone takes advantage of the opportunity to get the vaccine. It is the only sure route to eliminating Covid-19 for good.
THE CONTROVERSY OVER WHO HANDED OVER NIGERIA TO FULANI? inform his viewers that throughout the First Republic and prior to it, women were barred from contesting or voting in Northern Nigeria and that the apparent low election figures from the Region was a reflection of this phenomenon (disenfranchisement of women). The point has to be made that important as popular votes are, in the Parliamentary system, governments are formed on the basis of Parliamentary seats won by the political parties. Constituencies are delineated on the basis of population and the North was more populous than each of the two regions. If we go back to history we will notice that in the 1956 elections into the Western Region Parliament, the Action Group obtained 48% of the votes but secured 48 seats against NCNC’s 45% with 32 seats. Thus the difference of 39,270 votes translated into a difference of 16 seats for the Action Group, against the NCNC in the Western Region Parliament. This is the reality of Parliamentary system. If it was okay for the Western Region, why was it not, for the Northern Region? The political maneuvering between the NCNC and the Action Group in 1959 has a long, checkered and multi-dimensional history which if objectively analyzed will not place an iota of blame on Dr. Nnamdi Azikiwe. The claim that Zik rejected the alliance with the Action Group because of disputes with some Yoruba members of the NCNC delegation to London in 1947 as claimed by the video clip is not true. The NCNC leadership was very cautious and circumspect about the future of the party and sensitive to the views of its members from the Western Region, who objected to the alliance with the Action Group. The intense battle between the NCNC and the AG in the 1959 Federal Election in the Western Region clearly point out the strength of the NCNC in the region. It won 21 seats against Action Group’s 33 seats. (for details read, Nnamdi Azikiwe, Zik: A Selection From the Speeches of Nnamdi Azikiwe, Cambridge, London, 1961, pp. 202-208). The video clip also claimed that the press quarrel or “political panorama” between Zik in the West African Pilot and Chief H. O. Davies in the Daily Service in 1947 led Igbos rushing to buy machetes and that the two media protagonists were invited by Mr. Hugh Foot, the
Buhari Chief Secretary to the Government. This is not true. The media fracas was in1948 following the launching of the Igbe Omo Oduduwa in Lagos, under the leadership of Chief Bode Thomas. It was the Governor-General, Sir James Robertson, who invited the three Regional Governors and the two leaders of the warring parties, Dr. Nnamdi Azikiwe of the NCNC and Chief Bode Thomas of the NYM; Chief H. O. Davies was not invited. (see Alkasum Abba, The Northern Elements Progressive Union and the Politics of Radical Nationalism in Nigeria, 1938-1960, Abdullahi Smith Centre, Zaria, 2007, p. 95) What is getting clear to me about this video clip is that it is aimed at insulting the intelligence of the people of the northern States, by compelling them to become Fulani even though most of them are not. It must be pointed out that neither in this Government, nor in any other previous government, could be said to be the Fulani Government simply because a Fulani is the leader. It is in fact suspicious that some people are creating phantom stories about the role of the Fulani in Nigerian Governments. To call Sir Abubakar
Tafawa Balewa, a Bolewa by tribe, a Fulani, is an insult to the ethnic diversity of the people of Northern Nigeria. If anyone accepts for whatever reason that Nigeria was handed over to the Fulani where will he place the Yoruba in Kwara in today’s Kwara and Kogi States as well as Igala, Ebira; what about the Tivs and Idoma of Benue; Nupe and Gwari of Niger; Kanuri and other tribes in Borno and Yobe, Birom, Tarok and other tribes in Plateau ; Jukun, Mummuye and several tribes in Taraba; Eggon and Mada of Nassarawa, Jaba and Kataf in Kaduna, Dakarkari, Hausa in all parts of the North? Another absurdity from the false and distorted claims of the video clip is to accuse Igbos represented by Dr. Nnamdi Azikiwe of handing over Nigeria to “Fulani”. It maligns the ingenuity and sagacity of the Igbos in Nigerian politics especially the leading role played by ZIK in the struggle for independent Nigeria. This is because the Regional political arrangement of Nigeria established by Britain since 1946 with the imposition of the Richards’ Constitution was intended to configure Nigeria on a tripartite structure. That is to say that it functions on the basis of an alliance between two Regions against the third Region. And this jinx by the British appers to haunt us, even today. It is imperative to bring to the fore that the NCNC was the only party that objected to the tripartite regional structure and felt so concerned that it mobilized Nigerians in 1946 to reject the Richard’s Constitution to the extent that it sent a national protest delegation to London in 1947. Both the NPC and the Action Group were supporters of Regional politics and therefore neither of them could complain. If I may ask: what prevented the Action Group from making alliance with NPC to form the Government in 1960? Why blame the NCNC? The high voltage political intrigues that preceded the formation of Independent Government in 1960 trapped Dr. ZIK between the devil and the deep blue sea. While Dr. ZIK was sensitive and sympathetic to NCNC members from the South- West who were opposed to NCNC/AG alliance, 16 memberselect of his party from the Western Region had subtrainingly sealed a deal with the leaders of NPC in Northern region that should NCNC
leader opt for alliance with AG they would revolt and align with NPC. Their number (16) is what NPC required to form government. In fairness to Dr. ZIK, alliance with the NPC was a lesser evil. More imprtantly he said in his auto biography, he opted for alliance with NPC in the interest of unity of Nigeria. Zik from all indications felt forming Gorvenment of AG/NCNC alliance will put Independent Nigeria on a shaky foudation. My points debunk the video clip assertion that Zik opted for alliance with NPC in view of low level of education of its leaders which in the view of the clip will make the Prime Minister Abubakar Tafawa Balewa vulnerable to manipulation by Dr. ZIK. The assertion by the anonymous producer of the video clip that Dr. Zik manipulated PM Abubakar Tafawa Balewa to create Mid-Western region to depopulate the Western Region is remote from the truth. What actually happened was a political strategy put in place by NCNC leaders to depopulate both the Western and the Northern regions by the creation of Mid-Western region from the Western Region and the Middle Belt region of the Northern Region. This, in the belief of NCNC leaders, will make it possible for their party to cajole both Middle Belt and the Mid-Western regions in future elections to easily form government. The plan succeeded in the creation of Mid-Western Region and crashed in the creation of Middle Belt region. Thanks to the political sagacity and patriotism of Chief J.S. Tarka and other political leaders in the area. My account above makes it unequivocally clear as to the intent of the anonymous producer of the video clip and his sponsors. I therefore, urge all of us (Nigerians) especially the youths to exercise caution, restraint and tolerance in dealing with audios, videos and write-ups that we come across in the social media. Most of them are fake, phantom, false or distorted to incite one section of the country against the other, one religion against the other or one ethnic group against the other. We should always remember that the interest of Nigeria, its unity, progress and peace are far greater than the political ambition of any individual. r%BOTBEBV XBT B TFOBUPS SFQSFTFOUJOH ;BNGBSB $FOUSBM DPOTUJUVFODZ
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Falana to FG
“The federal government which had set out to frustrate the trial of Ibori cannot turn round to lay claim to the fund confiscated on the orders of the British courts. Having regards to the facts and circumstances of the case the the Ibori loot belongs to the people of Delta State in toto under domestic and international law” – Human rights lawyer, Femi Falana, insisting that recovered Ibori loot belongs to the people of Delta State and ont the federal government.
ALEXOTTI OUTSIDE THE BOX
alex.otti@thisdaylive.com
Africa Missing from the Vaccine Laboratory If your house is on fire, don’t wait until you have the perfect house. People should get vaccinated with whatever effective vaccine they have access to because this will help protect themselves and their communities by impacting the global viral load.” - Dave O’Connor, University of Wisconsin Medical Foundation Professor of Pathology and Laboratory Medicine, University of Wisconsin-Madison
T
he advent of the social media has democratised the media space in an unprecedented manner. All one needs to be an active player in the social media is a smart phone and data. Even though it has its negative side, one has enjoyed the social media so much that sometimes when one wants to laugh, there must be something that will make one have a hearty laugh. A few days ago, there
was a message circulating in the social media about how the 54 countries in Africa could not make any attempt at developing their own brand of the vaccine but were busy waiting for the rest of the world to develop one for them to shamelessly procure. I will leave out the other part of the message. I forwarded that message to a friend of mine who is a Professor of Pharmacology in one of the Universities in the country and his knee jerk riposte was quite revealing. He pointed out that African researchers were still preoccupied with developing a vaccine against hunger! He therefore requested that they should not be distracted by the global race for the development of the Covid-19 vaccine! It is a fact that out of the over 200 vaccine candidates going through different stages of tests and trials as at the end of last year, none is of African origin. The reason for this is not difficult to understand. Most of Africa is
battling with several existential challenges that are more deadly than the virus. Their scourge are so debilitating that they give the continent little time to pay attention to research and development of Covid-19 vaccines. The fund needed to engage in development of vaccine is such that most African countries find more important and urgent uses for it. For instance, the United States of America is spending a tidy $9b to fund vaccine development and production, mainly for its citizens. The United Kingdom has spent about £12b on the same vaccine as at the end of January this year and is planning to spend more in the years ahead. Japan budgeted a spend of over $6b for the vaccine. From these it is easily discernible that the vaccine play is not for countries that are still battling to feed their populace. Understandably, the way the whole space is arranged also makes it difficult for those who did not invest to reap any returns from the
business. Thus, while such huge amounts are funnelled into the development and production of vaccine, the poor countries would eventually buy the vaccines from countries producing it at exorbitant prices. In the end, the big pharmaceutical companies are left with super profits which eventually go back to the countries that provided the funds for the research and development. Vaccines are a sure antidote to viral infections, be they common colds or more complex ones like Coronavirus. Because Covid was novel when it was declared a pandemic by the World Health Organisation exactly a year ago, many experts believed that like the Spanish Flu of over a century ago, the development of a vaccine was going to take years. The Spanish Flu of 1918 lasted until1938 when an Continued on page 54
SAIDU DANSADAU GUEST COLUMNIST
The Controversy over Who Handed over Nigeria to Fulani?
I
n the recent past, a short video clip has gone viral titled: Who handed over Nigeria to the Fulani? I watched the video and listened to its audio. Interestingly, the voice is sounding like that of an “Englishman”. I was taken aback because I could not understand the motive of the anonymous producer and presenter of the video clip and on whose behalf. From the content of the video, it is obvious that the producer is defending the British against the allegation. In the words of the producer, “Someone said Fulani is Yoruba’s number one enemy and that the British handed over Nigeria to them’. This is not the truth; The British did not handover Nigeria to the Fulani”. I deem
it pertinent to respond because it looks like someone, somewhere is trying to create, build and acerbate conflict in an already tensed and heated political situation in the country, where dark clouds are hovering over the Nigerian polity. This is unfortunate; a trend that must be watched with caution and circumspection. The first sentence of the video clip in my opinion was crafted to incite Nigerians especially the Yoruba. It reads: “Fulani is Yoruba’s number one enemy and that British handed over Nigeria to them.” The rest of the story in the video is a clever attempt to justify the above statement. The video went on to claim the following as election results of the 12th December 1959
federal elections: (1)(NCNC - 2,594,577 votes, winning 81 seats (2) Action Group - 2,594,577 votes, winning 73 seats (3) NPC 1,992,368 votes, winning 134 seats I am shocked by the above purported results having known the actual results from all genuine and objective records. By the account of the book titled: Political Parties and Integration in Tropical Africa, edited by James Coleman and Carl Rosberg, published by University of California Press, Berkeley, page 653. The correct figures of the said election are as follows: (1) NCNC-NEPU alliance -2,592,629 votes, winning 89 seats (2) NPC - 2,027,194 votes,
winning 134 seats (3) Action Group - 1,986,839 votes, winning 73 seats (4) Others - 578,893 votes, winning 16 seats What I find absurd, apart from the wrong Electoral Figures claimed by the video clip in respect of the 1959 Parliamentary Elections, is the way it gives importance to the number of votes secured by political parties over the seats won by them. The rationale behind swapping NPC’s No.2 position to number 3 in the number of votes and AG’s No.3 to number No.2 is no doubt questionable. Same goes for the refusal of the clip’s anonymous producer to Continued on page 54
Aikhomu: A Man Who Returned to Forever Okey Anueyiagu
Joe, for over 35 years, you and I became like a lock and a key; opening each others heart, and unlocking our innermost expressions of a timeless and the most extraordinary and truly unique brotherhood, so rare and a one-of-a-kind relationship. In the last decade, I began to call you “Nwokem” an endearing Igbo word for “my brother, my friend”. And in your typical ways, you “retaliated” with your own name for me: “Nwokem Gbo Gbo” – my brother, my friend of ages, of old. So old was our brotherhood, that I remember with nostalgia, that Saturday morning 31 years ago, when you stood as godfather to my first daughter. I recall that you arrived the Church Christening venue long before us the parents. Spruced up in your stunning white brocade agbada, you held the white burning candle in trust of, and as a symbol of the holy oath to protect and cherish the life of your goddaughter. That holy oath, you gallantly, proudly and diligently upheld
Aikhomu until the day you passed. PASSED? This tribute is one of the most difficult ones
I have had to write, ever. How does one write a tribute to the master tribute giver? At my last birthday, you spoke most eloquently – you opened and closed the speeches. Your jokes, your tales by moonlight, your jocularity were unmatched. No one dared tell a joke after you had delivered your usually hilarious monologues – Impossible. You were a tough act to follow. Joe, your presence was like no other. Imagine the magic of knowing this man for as long as I did. It was an experience defined by legendary atonement and happy times that were engrained in memorable moments. From day one, Joe’s sweet, kind soul and valour became intensely incomparable. His compassion was vividly expanded into many terrains that transformed into unequalled human goodness, kindness sweetened with love and affection. Joe enriched so many lives with passion, love and unquenchable quest for a life full of energy and zeal. It is so difficult to capture in this tribute the essence and complete worth of his being and life. The poise and elegance of
his life were embodied in his natural charm and in his ability to sublimate the worldly selfishness of our generation by channeling his energy towards the common good. Joe’s favourite word was “love”. He used that word so passionately that he gave it a new coat of ensemble. He would often say to you; “I am in love with you ...we are lovers”. It didn’t matter if you were a female, a male, a child, an old person or even a cat, he was in love with loving. He loved so intensely and stupendously that even when he didn’t like a person; someone that may have offended him, he would dislike that person with intense love. Joe provided me with a life that was candid, a life that was incisive, moving and riveting. Whether it was about his brilliant and distinguished career in National Service, or his unblemished reputation, his potent decency, integrity and humanity, he exemplified in so many ways, that the productive and positive forces of our lives reside in love of all people.
Continued on page 49
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