FG Mulls Incentives for Banks to Restructure Oil Firms’ Debts DPR remits N2tn to govt coffers Emmanuel Addeh in Abuja The federal government is considering a regulatory forbearance for banks to encourage them to restructure oil companies' loans.
Minister of State for Petroleum Resources, Chief Timipre Sylva, said yesterday at the 2021 Society of Petroleum Engineers Oloibiri Lecture Series and Energy Forum (OLEF) in Abuja that
the decision followed the banks' exposure to debts from the oil firms, whose revenues have been hampered following the devastating impact of the COVID-19 pandemic on the industry.
The policy involves regulatory authorities permitting banks and financial institutions to continue operating even when their capital is fully depleted and reflects the unwillingness of
regulators to take disciplinary action against problem banks for a given period. In a report by Fitch Ratings in December 2020, it predicted that Nigerian bank assets' quality was expected to
weaken over the next 12 months to 18 months, saying that though earnings are expected to recover gradually with the economy, the banks Continued on page 10
The Rise Fund to Invest $200m in Airtel Africa... Page 8 Friday 19 March, 2021 Vol 26. No 9476. Price: N250
www.thisdaylive.com TR
UT H
& RE A S O
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Six Months after, Aisha Buhari Returns Home from Dubai Deji Elumoye in Abuja Six months after she left for Dubai, the United Arab Emirates, the First Lady, Mrs. Aisha Buhari, has returned
to Nigeria. Aisha, whose Dubai trip was steeped in controversy due to conflicting reports on why she travelled was said to have returned to Abuja on
Wednesday evening and was reportedly sighted at the State House, Abuja, upon arrival from the Nnamdi Azikiwe International Airport. Although there was no
official confirmation from her office as at press time, a top government official told THISDAY that the first lady was back in the country. "Yes, it's true, the first lady
has returned to the villa," the senior official said. Aisha’s last public appearance was in September, 2020 during the wedding of her daughter, Hanan, to
Mohammed Sha’aban on September 4, 2020 at the State House. Since then, she had gone off Continued on page 10
South-east, South-south Leaders Reject PDP’s Panel Report, Insist on Power Shift Chieftain accuses party officials of sellout Atiku begins e-registration of supporters, groups for 2023 contest Deji Elumoye in Abuja and Christopher Isiguzo in Enugu South-east and South-south leaders yesterday rejected the report of a committee set up by the Peoples Democratic Party (PDP), which recommended the scrapping of its zoning policy. The PDP Committee on the Review of the 2019 General Election, headed by the Bauchi State Governor, Senator Bala Mohammed, had recommended that the party should allow all aspirants from all parts of the country to contest for its 2023 presidential ticket. But reacting to the recommendation yesterday the leaders, who spoke to THISDAY dismissed it as a hatchet job, accusing the PDP leadership of selling out to the party’s presidential candidate in the 2019 election, Alhaji Abubakar Atiku, and former
President of the Senate, Senator Bukola Saraki, both of who they claimed are eyeing the top job in 2023. Incidentally, Atiku has launched a campaign for electronic registration of his supporters and support groups, creating a portal for interested faithful to login. “We understand their game,” a party chieftain from the South-east, said last night, adding: “The party leaders are pandering to the wishes of Atiku and Saraki.” Most vocal in the opposition to the Mohammed panel’s proposition were the apex Igbo socio-cultural organisation, Ohanaeze Ndigbo, and its counterpart, Pan Niger Delta Forum (PANDEF). In a statement signed by its National Publicity Secretary, Chief Chiedozie Ogbonnia, Ohanaeze said it remained Continued on page 10
COVID-19 Vaccine Safe, Govs Assure Nigerians... Page 5
A DIPLOMAT’S FAREWELL... Special Representative of the United Nations Secretary-General for West Africa and the Sahel, Dr. Mohammed Ibn Chambas (left), and President Muhammadu Buhari, during Chambas’ farewell visit to Buhari in Abuja...yesterday godwin omoigui
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FRIDAY MARCH 19, 2021 •T H I S D AY
GUARANTY TRUST BANK PLC STATEMENT TO THE NIGERIAN STOCK EXCHANGE AND THE SHAREHOLDERS ON THE EXTRACT OF AUDITED IFRS RESULTS FOR THE YEAR ENDED 31 DECEMBER 2020 2FC M?PB MD "GPCARMPQ MD %S?P?LRW 2PSQR ?LI .JA GQ NJC?QCB RM NPCQCLR RFC QSKK?PW jL?LAG?J GLDMPK?RGML MD RFC %PMSN Q ?SBGRCB PCQSJRQ DMP RFC WC?P CLBCB "CACK@CP 2FC QSKK?PW jL?LAG?J GLDMPK?RGML BGQAJMQCB UCPC BCPGTCB DPMK RFC DSJJ jL?LAG?J QR?RCKCLRQ MD %S?P?LRW 2PSQR ?LI NJA fRFC @?LIf ?LB GRQ QS@QGBG?PGCQ RMECRFCP fRFC EPMSNt DMP RFC WC?P CLBCB "CACK@CP ?LB A?LLMR @C CVNCARCB RM NPMTGBC ? DSJJ SLBCPQR?LBGLE MD RFC jL?LAG?J NCPDMPK?LAC jL?LAG?J NMQGRGML ?LB jL?LAGLE ?LB GLTCQRGLE ?ARGTGRGCQ MD RFC @?LI ?LB RFC EPMSN 2FC @?LI Q ?SBGRMP GQQSCB ?L SLOS?JGjCB MNGLGML ML RFC DSJJ jL?LAG?J QR?RCKCLRQ DMP RFC WC?P CLBCB "CACK@CP DPMK UFGAF RFCQC QSKK?PW jL?LAG?J GLDMPK?RGML UCPC BCPGTCB 2FC @?LI Q ?SBGRMP K?BC ? PCNMPR SLBCP QCARGML MD RFC !MKN?LGCQ ?LB JJGCB +?RRCPQ AR 2FC DSJJ jL?LAG?J QR?RCKCLRQ DPMK UFGAF RFCQC QSKK?PW jL?LAG?J GLDMPK?RGML UCPC BCPGTCB UMSJB @C BCJGTCPCB RM RFC !MPNMP?RC DD?GPQ !MKKGQQGML UGRFGL RFC PCOSGPCB BC?BJGLC L CJCARPMLGA AMNW MD RFC DSJJ jL?LAG?J QR?RCKCLRQ A?L @C M@R?GLCB ?R UUU ER@?LI AMK
Consolidated and Separate Statements of Financial Position as at 31 December 2020
Group Dec-2020
Group Dec-2019
Parent Dec-2020
Parent Dec-2019
N’million
N’million
N’million
N’million
Consolidated and Separate Income Statements for the year ended 31 December 2020
Group Dec-2020
Group Dec-2019
Parent Dec-2020
Parent Dec-2019
N’million
N’million
N’million
N’million
288,279
291,658
233,030
238,303
12,459
4,547
10,543
2,875
ASSETS Cash and bank balances
745,557
593,551
493,209
396,916
Financial assets at fair value through profit or loss
67,535
73,486
36,227
44,718
Interest income on financial assets at fair value through profit or loss
Derivative financial assets
26,449
26,012
26,449
26,012
Interest expense
(47,070)
(64,842)
(34,641)
(51,859)
Net interest income
253,668
231,363
208,932
189,319
3,274
33,084
3,274
33,084
Loan impairment charges
(19,573)
(4,912)
(13,667)
(2,221)
– Fair value through other comprehensive income
693,372
585,392
596,932
495,732
Net interest income after loan impairment charges
234,095
226,451
195,265
187,098
– Held at amortised cost
283,583
145,561
77,820
2,003
Fee and commission income
53,180
62,419
33,716
44,919
62,200
58,037
61,956
57,791
Fee and commission expense
(6,245)
(2,975)
(4,974)
(1,788)
99
1,514
40
72
Net fee and commission income
46,935
59,444
28,742
43,131
Loans and advances to customers
1,662,732
1,500,572
1,410,578
1,300,821
20,890
13,988
9,971
1,226,481
577,433
1,160,172
552,106
Net gains on financial instruments held at fair value through profit or loss
24,486
Restricted deposits and other assets
-
-
56,903
55,814
Other income
76,826
55,793
75,781
54,859
148,783
141,775
128,690
122,633
3,191
100
3,112
362
19,873
20,245
9,294
9,546
(37,606)
(37,284)
(24,054)
(23,331)
4,716
2,257
-
-
4,944,654
3,758,919
4,061,544
3,097,248
Investment securities: – Fair Value through Profit or Loss
Assets pledged as collateral Loans and advances to banks
Investment in subsidiaries Property and equipment Intangible assets Deferred tax assets TOTAL ASSETS LIABILITIES Deposits from banks Deposits from customers
101,509
107,518
13
15
3,509,319
2,532,540
2,881,686
2,086,810
Financial liabilities at fair value through profit or loss
-
1,616
-
1,616
2,759
2,316
2,759
2,315
356,223
233,426
321,976
205,817
21,592
20,597
19,720
19,748
Other borrowed funds
113,895
163,000
113,471
162,743
Deferred tax liabilities
24,961
10,568
19,520
12,294
4,130,258
3,071,581
3,359,145
2,491,358
14,716
14,716
14,716
14,716
Share premium
123,471
123,471
123,471
123,471
Treasury shares
(6,928)
(6,532)
-
-
193,922
119,248
137,049
78,111
Derivative financial liabilities Other liabilities Current income tax liabilities
TOTAL LIABILITIES
Interest income calculated using effective interest rate
Net impairment reversal on other financial assets Personnel expenses Right-of-use asset amortisation
(2,109)
(2,114)
(820)
(922)
Depreciation and amortization
(29,046)
(22,692)
(24,955)
(18,641)
Other operating expenses
(78,677)
(68,880)
(61,929)
(52,349)
Profit before income tax
238,095
231,708
205,130
200,178
Income tax expense
(36,655)
(34,843)
(26,942)
(25,053)
0ROµTÒFORÒTHEÒYEARÒFROMÒCONTINUINGÒOPERATIONS
201,440
196,865
178,188
175,125
Loss for the year from discontinued operations Profit for the year
Retained earnings Other components of equity
473,434
422,705
427,163
389,592
Capital and reserves attributable to equity holders of the parent entity
798,615
673,608
702,399
605,890
Non-controlling interests in equity TOTAL EQUITY TOTAL EQUITY AND LIABILITIES
15,781
13,730
-
-
814,396
687,338
702,399
605,890
4,944,654
3,758,919
4,061,544
3,097,248
APPROVED BY THE BOARD OF DIRECTORS ON 22 FEBRUARY 2021 ' BCLGWG $0! '! ,
!FGCD $GL?LAG?J -DjACP
& & +SQ? $0! !' ,
$0! !' ,
Equity holders of the parent entity
-
-
178,188
175,125
199,609
195,382
178,188
175,125
1,831
1,467
-
-
201,440
196,849
178,188
175,125
Group Dec-2020
Group Dec-2019
Parent Dec-2020
Parent Dec-2019
N’million
N’million
N’million
N’million
201,440
196,849
178,188
175,125
Non-controlling interests
Consolidated and Separate Statements of Other Comprehensive Income for the year ended 31 December 2020 Profit for the year Other comprehensive income not to be reclassified to profit or loss in subsequent years: Net change in fair value of equity investments FVOCI
469
54
469
54
(1,940)
(2,094)
(1,940)
(2,094)
582
628
582
628
– Foreign currency translation differences for foreign operations
12,113
(7,323)
-
-
– Income tax relating to foreign currency translation differences for foreign operations
Remeasurements of post-employment benefit obligations Income tax relating to remeasurements of post-employment benefit obligations Other comprehensive income to be reclassified to profit or loss in subsequent years:
(3,634)
2,197
-
-
– Net change in fair value of other financial assets FVOCI
2,174
4,796
2,311
4,258
– Income tax relating to change in fair value of financial assets FVOCI
(652)
(1,438)
(693)
(1,277)
#VCASRGTC "GPCARMP
Other comprehensive income for the year, net of tax
( ) E@?HC
Total comprehensive income for the year
%PMSN +?L?EGLE "GPCARMP ?LB !FGCD #VCASRGTC
(16)
196,849
Profit attributable to:
CAPITAL AND RESERVES Share capital
-
201,440
9,112
(3,180)
729
1,569
210,552
193,669
178,917
176,694
207,811
192,301
178,917
176,694
207,811
192,317
178,917
176,694
-
(16)
-
-
Profit attributable to: Equity holders of the parent entity
REPORT OF THE INDEPENDENT AUDITOR ON THE SUMMARY CONSOLIDATED AND SEPARATE FINANCIAL STATEMENTS To the members of Guaranty Trust Bank Plc
-Total comprehensive income for the year from continuing operations -Total comprehensive loss for the year from discontinued operations
Report on the summary consolidated and separate financial statements Opinion 4HEÒSUMMARYÒCONSOLIDATEDÒANDÒSEPARATEÒµNANCIALÒSTATEMENTSÒ THEÒhSUMMARYÒµNANCIALÒSTATEMENTSi ÒWHICHÒCOMPRISEÒTHEÒSUMMARYÒCONSOLIDATEDÒ ANDÒSEPARATEÒSTATEMENTSÒOFÒµNANCIALÒPOSITIONÒASÒATÒ Ò$ECEMBERÒ ÒANDÒTHEÒSUMMARYÒCONSOLIDATEDÒANDÒSEPARATEÒINCOMEÒSTATEMENTSÒFORÒTHEÒ YEARÒTHENÒENDED ÒANDÒCONSOLIDATEDÒANDÒSEPARATEÒSTATEMENTSÒOFÒOTHERÒCOMPREHENSIVEÒINCOMEÒFORÒTHEÒYEARÒTHENÒENDEDÒAREÒDERIVEDÒFROMÒTHEÒAUDITEDÒCONSOLIDATEDÒANDÒSEPARATEÒµNANCIALÒSTATEMENTSÒ THEÒhAUDITEDÒµNANCIALÒSTATEMENTSi ÒOFÒ'UARANTYÒ4RUSTÒ"ANKÒ0LCÒ hTHEÒ"ANKi ÒANDÒITSÒSUBSIDIARYÒ COMPANIESÒ TOGETHERÒTHEÒh'ROUPi ÒFORÒTHEÒYEARÒENDEDÒ Ò$ECEMBERÒ )NÒOURÒOPINION ÒTHEÒACCOMPANYINGÒSUMMARYÒµNANCIALÒSTATEMENTSÒAREÒCONSISTENTÒINÒALLÒMATERIALÒRESPECTS ÒWITHÒTHEÒAUDITEDÒµNANCIALÒSTATEMENTS Ò INÒACCORDANCEÒWITHÒTHEÒREQUIREMENTSÒOFÒTHEÒ#OMPANIESÒANDÒ!LLIEDÒ-ATTERSÒ!CT ÒTHEÒ"ANKSÒANDÒ/THERÒ&INANCIALÒ)NSTITUTIONSÒ!CTÒANDÒTHEÒ&INANCIALÒ 2EPORTINGÒ#OUNCILÒOFÒ.IGERIAÒ!CT Ò Ò Summary financial statements 4HEÒSUMMARYÒµNANCIALÒSTATEMENTSÒDOÒNOTÒCONTAINÒALLÒTHEÒDISCLOSURESÒREQUIREDÒBYÒTHEÒ)NTERNATIONALÒ&INANCIALÒ2EPORTINGÒ3TANDARDS ÒTHEÒ#OMPANIESÒ ANDÒ!LLIEDÒ-ATTERSÒ!CT ÒTHEÒ&INANCIALÒ2EPORTINGÒ#OUNCILÒOFÒ.IGERIAÒ!CT ÒTHEÒ"ANKSÒANDÒ/THERÒ&INANCIALÒ)NSTITUTIONÒ!CTÒANDÒOTHERÒRELEVANTÒ#ENTRALÒ "ANKÒOFÒ.IGERIAÒCIRCULARSÒAPPLIEDÒINÒTHEÒPREPARATIONÒOFÒTHEÒAUDITEDÒµNANCIALÒSTATEMENTSÒOFÒTHEÒ'ROUPÒANDÒ"ANK ÒÒ4HEREFORE ÒREADINGÒTHEÒSUMMARYÒ µNANCIALÒSTATEMENTSÒANDÒTHEÒAUDITORgSÒREPORTÒTHEREON ÒISÒNOTÒAÒSUBSTITUTEÒFORÒREADINGÒTHEÒAUDITEDÒµNANCIALÒSTATEMENTSÒANDÒTHEÒAUDITORgSÒREPORTÒ THEREON Ò Ò Ò Ò Ò Ò Ò Ò Ò Ò Ò Ò Ò Ò Ò Ò The audited financial statements and our report thereonÒ Ò Ò Ò Ò 7EÒEXPRESSEDÒANÒUNMODIµEDÒAUDITÒOPINIONÒONÒTHEÒAUDITEDÒµNANCIALÒSTATEMENTSÒINÒOURÒREPORTÒDATEDÒ Ò&EBRUARYÒ Ò4HATÒREPORTÒALSOÒINCLUDESÒ THEÒCOMMUNICATIONÒOFÒKEYÒAUDITÒMATTERS Ò+EYÒAUDITÒMATTERSÒAREÒTHOSEÒMATTERSÒTHAT ÒINÒOURÒPROFESSIONALÒJUDGEMENT ÒWEREÒOFÒMOSTÒSIGNIµCANCEÒINÒ OURÒAUDITÒOFÒTHEÒµNANCIALÒSTATEMENTSÒOFÒTHEÒCURRENTÒPERIOD Ò Ò Ò Ò Ò Ò Ò Ò Ò Ò Ò Ò Ò Ò Directors’ responsibility for the summary financial statements Ò Ò Ò Ò 4HEÒDIRECTORSÒAREÒRESPONSIBLEÒFORÒTHEÒPREPARATIONÒOFÒTHEÒSUMMARYÒµNANCIALÒSTATEMENTSÒINÒACCORDANCEÒWITHÒTHEÒREQUIREMENTSÒOFÒTHEÒ#OMPANIESÒANDÒ !LLIEDÒ-ATTERSÒ!CT ÒTHEÒ"ANKSÒANDÒ/THERÒ&INANCIALÒ)NSTITUTIONSÒ!CTÒANDÒTHEÒ&INANCIALÒ2EPORTINGÒ#OUNCILÒOFÒ.IGERIAÒ!CT Ò Ò Ò Ò Ò Ò Ò Ò Ò Ò Auditor’s responsibilityÒ Ò Ò Ò Ò Ò /URÒRESPONSIBILITYÒISÒTOÒEXPRESSÒANÒOPINIONÒONÒWHETHERÒTHEÒSUMMARYÒµNANCIALÒSTATEMENTSÒAREÒCONSISTENT ÒINÒALLÒMATERIALÒRESPECTS ÒWITHÒTHEÒAUDITEDÒ µNANCIALÒSTATEMENTSÒBASEDÒONÒOURÒPROCEDURES ÒWHICHÒWEREÒCONDUCTEDÒINÒACCORDANCEÒWITHÒ)NTERNATIONALÒ3TANDARDÒONÒ!UDITINGÒ )3! Ò Ò 2EVISED Ò f%NGAGEMENTSÒTOÒ2EPORTÒONÒ3UMMARYÒ&INANCIALÒ3TATEMENTSg Ò Ò Ò Ò Ò Ò Ò Ò Ò Ò Ò Ò Ò Ò Report on other legal and regulatory requirements Ò )NÒACCORDANCEÒWITHÒOURÒFULLÒAUDITÒREPORT ÒWEÒCONµRMÒTHAT Ò Ò Ò Ò Ò ÒÒÒÒÒI ÒÒWEÒDIDÒNOTÒREPORTÒANYÒEXCEPTIONSÒUNDERÒTHEÒSIXTHÒSCHEDULEÒOFÒTHEÒ#OMPANIESÒANDÒ!LLIEDÒ-ATTERSÒ!CT Ò Ò Ò ÒÒÒÒII ÒÒTHEÒ"ANKÒHASÒDISCLOSEDÒTHEÒINFORMATIONÒREQUIREDÒBYÒTHEÒ#ENTRALÒ"ANKÒOFÒ.IGERIAÒCIRCULARÒONÒINSIDERÒRELATEDÒCREDITS Ò ÒÒÒÒIII ÒTHEÒ"ANKÒPAIDÒPENALTIESÒINÒRESPECTÒOFÒCONTRAVENTIONSÒOFÒCERTAINÒSECTIONSÒOFÒTHEÒ"ANKSÒANDÒ/THERÒ&INANCIALÒ)NSTITUTIONSÒ!CTÒANDÒRELEVANTÒÒÒÒÒ ÒÒÒÒÒÒÒÒCIRCULARSÒISSUEDÒBYÒTHEÒ#ENTRALÒ"ANKÒOFÒ.IGERIAÒDURINGÒTHEÒYEARÒENDEDÒ Ò$ECEMBERÒ ÒÒ Ò
2,741
1,368
-
-
ÒÒÒÒ 4OTALÒCOMPREHENSIVEÒINCOMEÒFORÒTHEÒYEARÒFROMÒNON CONTROLLINGÒINTERESTÒ
2,741
ÒÒ
-
-
210,552
193,669
178,917
176,694
– Basic
7.11
6.96
6.05
5.95
– Diluted
7.11
6.96
6.05
5.95
Total comprehensive income for the year Earnings per share for the profit attributable to the equity holders of the parent entity during the year (expressed in naira per share):
Dec-2020
Dec-2019
Dec-2020
Dec-2019
Gross Earnings
455,230
435,307
367,058
350,927
Total impaired Loans and Advances (N'million)
111,464
102,453
86,575
83,498
6.39%
6.53%
5.88%
6.15%
Number
Amount Claimed
Amount Refunded
(N’000)
(N’000)
-
2ECEIVEDÒ#OMPLAINTS
-
2ESOLVEDÒ#OMPLAINTS
565,521
105,000
-
-
-
52
293,911
-
Total impaired Loans and Advances to Gross Loans and Advances (%)
Reports on the Resolution of Customers’ Complaints "ELOWÒISÒAÒBREAKDOWNÒOFÒ#OMPLAINTSÒRECEIVEDÒANDÒRESOLVEDÒBYÒTHEÒ"ANKÒ DURINGÒTHEÒYEARÒENDEDÒ Ò$ECEMBERÒ Ò Ò Ò PURSUANTÒTOÒ#".ÒCIRCULARÒDATEDÒ!UGUSTÒ Ò Ò Ò Description
0ENDINGÒ#OMPLAINTSÒBROUGHTÒFORWARDÒFROMÒPRIORÒYEAR
5NRESOLVEDÒ#OMPLAINTSÒESCALATEDÒTOÒ#".ÒFORÒINTERVENTION
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Unresolved Complaints pending with the Bank carried forward $C@PS?PW
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FRIDAY MARCH 19, 2021 • T H I S D AY
3
4
FRIDAY MARCH 19, 2021 •T H I S D AY
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FRIDAY, ˜ ͺͺ ˾ T H I S D AY
NEWS
Group News Editor Ejiofor Alike Email Ejiofor.Alike@thisdaylive.com, 08066066268
Libya’s Instability Perpetuates Illegal Arms Flow into Nigeria, Says Buhari North-west govs meet over insecurity
Deji Elumoye in Abuja President Muhammadu Buhari has insisted that as far as Libya remains unstable, illegal arms and ammunition will continue to flow into Nigeria and other countries in the Sahel region, stating that the closure of Nigeria’s land borders for almost one year did not stop the inflow of arms and ammunition into the country. The president expressed concern about security in Nigeria and the Sahel during a meeting yesterday at the State House, Abuja, with the outgoing Special Representative of the United Nations Secretary-General and Head of the United Nations Office for West Africa and the Sahel (UNOWAS), Mr. Mohammed Ibn Chambas. Also yesterday, North-west governors met in Abuja over the rising insecurity in the zone even as the Secretary to the Government of the Federation (SGF), Mr. Boss Mustapha, charged states to evolve mechanisms for securing forest reserves, which fall under their purview, and have been turned into bandits' enclaves. Establishing a link between the ongoing insecurity in the Sahel and Libya, Buhari said the late President Muammar Gadaffi held a firm grip on power in Libya for 42 years by recruiting armed guards from different countries, who then escaped with their arms when the Libyan strongman was killed. He said: “The armed guards didn’t learn any other skill than to shoot and kill. So, they are a problem all over the Sahel countries today.
"We closed our land borders here for more than a year, but arms and ammunition continued to flow illegally. As far as Libya remains unstable, so will the problem remain. “We have to cope with the problems of development, as we can’t play hop, step and jump. But we will eventually overcome those problems.” Buhari while describing Chambas, who spent many years in Nigeria in different capacities, from ECOWAS to UN, as “more of a Nigerian than anything else," wished him well in his future endeavours. Chambas thanked the president “for personal support I received from you, and from Nigeria as a country,” adding that the country will continue to play a leadership role on the continent. On terrorism and violent extremism in the Sahel and the Lake Chad Basin area, Chambas said Nigeria was playing a yeoman’s role, particularly in supporting the Multinational Joint Task Force (MNJTF). In an interview with ARISE NEWS Channel, THISDAY broadcast arm, Buhari had in January 2019 blamed Gaddafi's henchmen for terrorism in Nigeria. According to him, the bandits who escaped from Libya after the death of their leader in 2011 took to terrorism, with Nigeria and some other African countries bearing the brunt. Gaddafi, who led Libya for decades, was killed on October 20, 2011, during the Battle of Sirte. “The Nigerian cattle herder use to carry nothing more than a stick, but these are people
with AK-47 and people refuse to reflect on the demise of Gaddafi. “Gaddafi for 43 years in Libya, at some stage, he decided to recruit people from Mali, Burkina Faso, Niger, Nigeria, Chad, from the Central African Republic and these young chaps are not taught to be bricklayers, electricians, plumbers or any trade but to shoot and kill. “So, when the opposition in Libya succeeded in killing him, they arrested some and they did what they did to them.
The rest escaped with their weapons and we encounter some of them in the Northeast and they are all over the place now organising attacks,” Buhari said in the exclusive interview with ARISE NEWS Channel. Also while speaking with the Archbishop of Canterbury Justin Welby in April 2018, Buhari had said arms Gaddafi provided to his supporters had filtered into Nigeria and were being used to fuel killings in the North-central. “The problem is even
older than us,” Buhari said of killings. “It has always been there, but now made worse by the influx of armed gunmen from the Sahel region into different parts of the West African sub-region. “These gunmen were trained and armed by Muammar Gaddafi of Libya. When he was killed, the gunmen escaped with their arms. We encountered some of them fighting with Boko Haram,” Buhari had said.
North-west Govs Meet over Insecurity Katsina State Governor and Chairman of the North-west Governors' Forum, Alhaji Aminu Masari, yesterday met with governors of the North-west zone, including the Niger State Governor, Mr. Abubakar Bello, over the increased banditry in the region. Masari, during the meeting held in Abuja was upbeat that Continued on page 10
DINNER FOR LATEST DG... L-R: Minister of Women Affairs, Mrs. Pauline Tallen; Director-General, World Trade Organisation, Dr. Ngozi Okonjo-Iweala; and Minister of State for Environment, Mrs. Sharon Ikeazor, at a dinner in honour of the director-general in Abuja…recently
COVID-19VaccineSafe,GovsAssureNigerians FG delivers doses to 35 states We are ready to receive 100, 000 doses, says Kogi Deji Elumoye, Chuks Okocha in Abuja and Ibrahim Oyewale in Lokoja State governors have assured Nigerians of the safety of AstraZeneca COVID-19 vaccine and urged them not to boycott it. In a communiqué yesterday at the end of their emergency meeting, the Chairman of the forum and Ekiti State Governor, Dr. Kayode Fayemi, said the governors were committed to encouraging all eligible persons to take the vaccine. The governors also encouraged the public to report any adverse effects noticed after the vaccination. Fayemi said the governors certified the vaccine safe after they received a briefing from the COVID-19 Technical Advisory Group (CTAG) led by Prof. Oyewale Tomori. He added that CTAG recommended that "Nigeria
should continue to vaccinate all eligible persons with the AstraZeneca vaccine in line with the latest WHO recommendation as available evidence, including findings from research in which some CTAG members are involved, showed that the AstraZeneca vaccine is safe." The governors also agreed to partner the National Drug Law Enforcement Agency (NDLEA) on curbing drug abuse among youths. "Following a briefing from the Chairman/ Chief Executive Officer of the National Drug Law Enforcement Agency (NDLEA), Brig. Gen. Buba Marwa (rtd), on managing the drug crisis in the country, state governors committed to supporting the logistics and operational activities of NDLEA officials in their states, as well as programmes that will promote drug use prevention in the country.
"Given the high correlation between drug use and insecurity in the country, the forum will push for a greater role for NDLEA in Nigeria’s security fight, especially as it relates to combating drug abuse and the illicit trafficking of drugs," the communiqué stated.
FG Delivers Doses to 35 states Meanwhile, the federal government has so far distributed the vaccine to all states of the federation, except Kogi, for the ongoing immunisation. The Executive Secretary of the National Primary Health Care Development Agency (NPHCDA), Dr. Fiasal Shuaib, in a report presented yesterday to the National Economic Council (NEC) meeting in Abuja, said Kogi was yet to receive its consignment
due to the non-repair of its cold chain store coupled with the state’s concerns around the contradictory information about the vaccine. But the Kogi State Government has, however, offered to receive about 100,000 doses of the vaccine. Shuaib, in his presentation, said the Independent Corrupt Practices and other Related Offences Commission (ICPC) had been co-opted to support the Presidential Task Force (PTF) on COVID-19 on vaccine accountability to ensure the safekeeping of the vaccine. He spoke on a plan to commence weekly record of a dashboard showing level and efficacy of the inoculation and stressed the need for tight security around the vaccines in the states to avoid hoodlums vandalising them. He stated that the second tranche of the vaccine would
arrive before the second dose of AstraZeneca intake is concluded. The NEC also received an update from its ad hoc committee interfacing with the PTF on COVID-19 to ease the lockdown of the economy. The briefing was delivered by the Chairman of the committee and Governor of Delta State, Dr. Ifeanyi Okowa, and the DirectorGeneral of the Nigeria Centre for Disease Control (NCDC), Dr. Chikwe Ihekweazu. Also yesterday, the Kogi State Government said it was ready to receive about 100,000 doses of the vaccine. The Commissioner for Health, Dr. Saka Haruna, told journalists in Lokoja, the state capital that arrangements had been concluded to receive the vaccine. “So, on the issue of COVID-19 vaccine, I think by the end of today, the
state’s preparedness would have been completed for the deployment to our cold store," he said. He attributed the delay in receiving the consignment the destruction of the state’s health facilities, including the store and refrigerators, during the EndSARS protest. He added that the government has revived one of the cold stores for the storage of the vaccine. "So, by the end of today, we will convey our readiness to NPHCDA for the deployment of the vaccine to the state. The required cooling would be maintained. We did not want a situation where the process will be broken in Kogi State. I think we have a better understanding with the Federal Ministry of Health, and the National Primary Health Care Development Agency has been very cooperative," he stated.
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NEWS
The Rise Fund to Invest $200m in Airtel Africa
Emma Okonji
Airtel Africa, provider of telecommunications and mobile money services, with presence in 14 African countries, including Nigeria, has signed an agreement with The Rise Fund, the global impact investing platform, to invest $200 million in Airtel Africa’s Mobile Money Business at $2.65 billion valuation. Airtel Mobile Commerce BV (AMC BV) is a wholly-owned subsidiary of Airtel Africa plc. AMC BV is currently the holding company for some of Airtel Africa’s mobile money operations, and is now intended to own and operate the mobile money businesses across all of Airtel Africa’s 14 operating countries, including Nigeria. The transaction values Airtel Africa’s mobile money business at $2.65 billion on a cash and debt-free basis. According to a statement yesterday by Airtel Africa, and signed by the group’s Company Secretary, Mr. Simon O’Hara, The Rise Fund will hold a minority stake in AMC BV upon completion of the transaction, with Airtel Africa continuing to hold the remaining majority stake. The statement, however, added that the transaction is subject to customary closing conditions, including regulatory filings and approvals, as well as the inclusion of specified mobile money business assets and contracts into AMC BV. “The transaction is the latest step in the group’s pursuit of strategic asset monetisation and investment opportunities, and it is the aim of Airtel Africa to explore the potential listing of the mobile money business within four years,” the statement added. It also said the group was discussing with other potential investors for possible further minority investments in Airtel Money, up to a total of 25 per cent of the issued share capital of AMC BV. According to the statement, the proceeds from the transaction will be used to reduce the group’s debt and invest in network and sales infrastructure
in the operating countries. Operating under the Airtel Money brand, Airtel Africa’s mobile money services is a leading digital mobile financial services platform. It caters to a large market in Africa, characterised by limited access to formal financial institutions with limited banking infrastructure. These include mobile wallet deposit and withdrawals, merchant and commercial payments, benefits transfers, loans and savings, virtual credit card and international money transfers. Commenting on the deal, the CEO of Airtel Africa, Raghunath Mandava, noted that in line with the company’s vision of enhancing financial inclusion, Airtel Africa offers a unique digital mobile financial services platform under the Airtel Money brand. “In most of our markets, there is limited access to traditional financial institutions, and little banking infrastructure, with less than half of the population having a bank account across sub-Saharan Africa. "Our markets, therefore, afford substantial market potential for mobile money services to meet the needs of the tens of millions of customers in Africa who have little or no access to banking and financial services, and this demand is driving growth,” Mandava said. He stated that with the announcement, the company welcomed The Rise Fund as an investor in its mobile money business and as a partner to help Airtel realise the full potential from the substantial opportunity to bank the unbanked across Africa. Partner at TPG who leads Africa investing for The Rise Fund, Yemi Lalude, added: “Financial inclusion is a global issue that is most acute in Africa. Through Airtel Money, Airtel Africa has built a unique platform that is closing the gap between traditional financial institutions and the millions of unbanked Africans across the 14 countries where Airtel Africa operates.” Although Mobile money
services are available across the group’s 14 countries of operation, in Nigeria the group offers Airtel Money services through a partnership with a local bank and has applied for its own mobile banking licence. The intention is that all mobile money operations will be owned and operated by AMC BV. Airtel said in its most recent reported results for Q3 that the mobile money service segment that is corresponding to all the businesses that are intended to be transferred to AMC BV, delivered a strong operational performance. The segment, according to the statement, generated revenue of $110 million ($440 million annualised), and underlying EBITDA of $54 million ($216 million annualised) at a margin of 48.7 per cent. The year-on-year revenue growth for the quarter was 41.1 per cent in constant currency, largely driven by 29 per cent growth in the customer base to
21.5 million, and 9.7 per cent ARPU growth. Growth in transaction value was 53.0 per cent to $12.8 billion ($51 billion annualised), the statement said. It added that the company’s mobile money business benefits from a strong network presence with its core telecom business through the extensive distribution platform of kiosks and mini-shops as well as dedicated Airtel Money branches are supplementing its extensive agent network, to facilitate customers’ assured wallet and cash. “We have a clear strategy to continue to drive sustainable long-term growth in Airtel Money with a focus on assured float availability, distribution expansion and increased usage cases for our customers. “In this year alone, we have added partnerships with MasterCard, Samsung, Asante, Standard Chartered Bank, MoneyGram, Mukuru and WorldRemit to expand
both the range and depth of the Airtel Money offerings and to further drive customer growth and penetration. The profits before tax in the full year ending 31 March 2020 and the value of gross assets as of that date, attributable to the mobile money businesses were $143.4 million and $463.2 million, respectively,” the statement said. According to it, key elements of the transaction indicate that a newly incorporated investment vehicle of The Rise Fund will invest $200 million through a secondary purchase of shares in AMC BV from Airtel Africa. The transaction will close in two stages - $150 million will be invested at first close, once the transfer of sufficient mobile money operations and contracts into AMC BV has been completed, with $50 million to be invested at second close upon further transfers. Airtel Africa added that its aim is to explore the potential listing of the mobile money
business within four years. It said: “Under the terms of the transaction and in very limited circumstances, in the event that there is no Initial Public Offering of shares in AMC BV within four years of the first close, or in the event of changes of control without TPG’s prior approval, TPG would have the option, so as to provide liquidity to them, to sell its shares in AMC BV to Airtel Africa or its affiliates at fair market value that will be determined by a mutually agreed merchant bank using an agreed internationally accepted valuation methodology. “The option is subject to a minimum price equal to the consideration paid by The Rise Fund for its investment (less the value of all distributions and any proceeds of the sale of its shares, and with no time value of money or minimum return built-in) and a maximum number of shares in AMC BV such that the consideration does not exceed $400 million.”
TOWARDS 2023... L-R: Former Niger State Governor, Dr. Babangida Aliyu; Former President of the Senate, Dr. Bukola Saraki; National Chairman, Peoples Democratic Party, Prince Uche Secondus; and Bauchi State Governor, Senator Bala Mohammed, after the presentation of a report on the 2019 general election in Abuja...recently
Report: Rising Oil Price May Derail FG’s Economic Reforms Dike Onwuamaeze The Financial Derivatives Company (FDC) has warned that the rising crude oil price, which could rise above $100 per barrel, may sway the federal government to jettison its economic reform agenda to diversify the nation's revenue sources. The FDC, in its latest bimonthly economic bulletin, stated that the “major risk to higher oil prices is the reversal of key economic reforms put in place by the Nigerian government to bridge the deficit gap, boost economic growth and development of the economy." It added: “With the gradual shift to electric vehicles, oil is gradually becoming obsolescent and this will lead to a drop in investment by the oil majors. "But lack of investment will be a disincentive to production and could lead to a further
increase in oil prices to triple digits (i.e., $100).” It, however, urged Nigeria to initiate efforts towards boosting foreign exchange inflows by increasing non-oil exports. According to the FDC, this will require sector-specific policy initiatives to attract investors and develop the non-oil sector. The FDC also projected that the Central Bank of Nigeria (CBN) would mop up liquidity in the money market and increase interest rate as its Monetary Policy Committee (MPC) meet on March 23 and 24 in order to contain inflationary pressure and improve yields to attract dollar flow into the economy. “We expect the CBN to mop up liquidity in the money market through OMO sales to further push up interest rates. On the other hand, the MPC has been scheduled to meet on March 23rd and 24th.
"An increase in the interest rate would push up foreign exchange inflows in the money market. This would, in turn, drive the need to save,” the FDC stated. It projected that the price of crude oil would grow above the $70pb threshold by April or latest in May as the demand for crude oil continues to increase and more countries inoculate their residents and fast-track the economic recovery process by the lifting of the lockdowns, the reopening of economies and resumption of key business activities. It stated that a global recovery would benefit Nigeria, which is highly dependent on imports, as this means more trade flows. In addition, it will also trigger the initiation of new projects to be embarked upon by governments and the resumption of halted projects. The report listed other effects
of the envisaged economic recovery to include an increase in investment flows and remittances from abroad as businesses employ more workers, which will support Nigeria’s growth process. It attributed the rising crude oil prices to the current economic recovery after the slowdown caused by the impact of COVID-19 on the global economy and the decision of the Organisation of Petroleum Exporting Country (OPEC) and its allies’ to extend the ongoing cuts in crude oil output to April 2021. The effect of the cut is that “oil prices rallied higher immediately and have been on the increase, supported by improving Asian fuel demand and the distribution of COVID-19 vaccines, which have boosted market sentiment of a quick recovery in global oil demand.
“This is occurring at a time when the prices of global commodities are on the increase and inflationary pressures are rising especially in emerging markets. “Rising inflation means that returns on investments would fall barring upward adjustments of interest rates by the monetary authorities to support yields. "Adopting a tightened stance now may be premature for many economies that are still battling with negative growth rates and in need of significant stimulus to boost their economies. "In Africa for instance, Nigeria despite posting a surprise positive growth of 0.11 per cent in Q4 2020, is not yet out of the woods and has an inflation rate that could cross 17 per cent in February,” the report said. The FDC added that the downside of the rising crude oil prices is the resultant increase
in the domestic petrol prices that would most likely occur if global oil prices continued to rise and the naira continued to fall at the IEFX window. “Currently, the government and organised labour are yet to finalise on the next steps. But, one thing is clear, the era of subsidies is gone; it is just a matter of time and how much more Nigerians are going to be paying to buy a litre of fuel,” it added. The FDC said from all indications, the crypto market would not stop functioning and advised the CBN to invest in understanding the cryptocurrency market and utilise it to attract much-needed investment inflows. “The macroeconomic picture is still not inviting, and an uncertain policy environment coupled with multiple exchange rates will keep investors sceptical.
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WELCOME!
HIS EXCELLENCY,
SENATOR OLUBUKOLA ABUBAKAR SARAKI, MBBS, CON FORMER PRESIDENT OF THE SENATE, FEDERAL REPUBLIC OF NIGERIA
Your Excellency, The Government and good people of Delta State are glad to have you today for the commissioning of some projects executed by my administration. I appreciate your interest in the development and progress of our State. Senator, Dr. Ifeanyi Okowa Governor, Delta State
GOVERNMENT PRIMARY SCHOOL, JUNIOR STAFF QUARTERS, ASABA
DLA ROAD AND ADJOINING STREETS OF BIOSAH AMANTU, IKUKU ADINDU AND VITALIS OKAKWU, ASABA
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PAGE TEN SIX MONTHS AFTER, AISHA BUHARI RETURNS HOME FROM DUBAI the radar, including taking a break from the social media. The first lady also did not make any public statement or appearance on her 50th birthday on February 18. However, on the International Women Day 2021, held recently, she broke her silence, posting a goodwill message on her Twitter handle, @Aishambuhari. In the message titled, ‘Message of the first Lady, Federal Republic of Nigeria,
Dr. Aisha Muhammadu Buhari, on the occasion of the International Women’s Day 2021,’ signed by her, she had lamented the continued abduction of women and girls in Nigeria by bandits and terrorists. “Today marks the 2021 edition of International Women’s Day. The day offers yet another opportunity for humanity to review and reflect progress made on issues of women and girls.
She wrote: “This year’s theme; ‘Women in leadership: Achieving an equal future in a COVID-19 world’ is a strong call to appreciate the efforts of women and girls in the fight against COVID-19 pandemic. “COVID-19 has had a huge impact on women; disrupted education and careers, lost jobs, descent into poverty, and proliferation of domestic violence. Many have also died or suffered due to lack of
access to basic information on the pandemic. “It is therefore important, not just to continue spreading the message of the COVID-19 protocol, but to remember and support those who have been affected negatively by the pandemic in one way or another. “Away from COVID-19, women and girls in Nigeria have continued to suffer abductions both in the hands of insurgents and bandits. As
a mother, I share the sorrow and agony of the victims and their families.” An initial report was that the first lady relocated to Dubai over security concerns. However, one of her aides, Mr. Kabiru Dodo, had dismissed the speculation that she had relocated to Dubai, saying she travelled for medical checkup. Dodo, at a function in Jalingo, the Taraba State capital, last December, had
said: “The first lady travelled for her medical trip. She did not flee the country because of insecurity, she left her children, her husband and family in Nigeria. "What people are saying is baseless and worth nothing to be considered. I want to tell the whole world that I do speak to her on daily basis and she is ready to return to the country as soon as she is done with the medical treatment abroad."
SOUTH-EAST, SOUTH-SOUTH LEADERS RE JECT PDP’S PANEL REPORT, INSIST ON POWER SHIFT irrevocably committed to the emergence of a Nigerian president of Igbo extraction by 2023. Ohanaeze said some highly placed Nigerians who have benefited so much from the unity of the country would be inclined to decisions and actions that will further inflame the passions of the patient but aggrieved part of the country. It said: “For the avoidance of doubt, Nigerians agreed on the rotation of the presidency between the North and the South, in which case it is the turn of the South after the tenure of President Muhammadu Buhari. “For clarity purposes, both the South-west and the South-south had both taken their turns in the persons of
Chief Olusegun Obasanjo and Dr. Goodluck Jonathan respectively. “It is rather very unpatriotic and a trifle on the sensibilities of the Igbo for the committee to even suggest the rotation of the presidency to the North-east in the first instance and open to every part of Nigeria as a major slight.” Ohanaeze said it was disturbing that all the indignities, perceived and real, that the South-east suffers in the current dispensation are the outcome of the Igbo support to the PDP since 1999. “It is on record that in 1999, the Igbo were in hock with the PDP through which Chief Olusegun Obasanjo emerged the President of Nigeria; same in 2003 and the subsequent elections in Nigeria.
“On the other hand, the Igbo had invested much political capital in the PDP only to be betrayed by its apparent lack of principles. The leadership of the PDP is advised to retract the comment made by Mohammed and countermand the content of the obnoxious committee report in the interest of the party,” Ohanaeze said. The group argued that the Igbo is bound to advertise the party that caters to the interest of her people, adding that it is instructive that Senator Ali Ndume, a chieftain of the All Peoples Congress (APC) is among the prominent Northerners that canvassed for zoning the Nigerian presidency to the South-east for 2023 presidential election. The apex Igbo socio-cultural organisation said their
prominent APC chieftains are highly committed to the realisation of this project. PANDEF too condemned in strong terms the recommendation by the PDP committee. The forum in a reaction by its National Publicity Secretary, Hon. Ken Robinson, described the recommendation as irrational and inconsistent with extant provisions of the PDP Constitution on zoning between the North and South. Robinson, who spoke with THISDAY yesterday, stressed that the position of PANDEF "is that a northern president is to complete eight years by 2023, so the presidency must, therefore, rotate to the South in 2023." According to him, it is absurd for anyone to imagine
that the North would retain the presidency as nature abhors injustice, adding that the sun does not rise in the east and set in the east. He posited that the PDP will be better for it if it discards of the committee's report "and work towards ensuring that its 2023 presidential candidate is from the South, whether the person emerges from the South-south, South-east or South-west is a different matter entirely." The forum warned that it will be suicidal for any of the registered political parties to field any northern candidate for the 2023 presidential race. "The PDP and indeed any other political party, need not be told that It would be a suicidal adventure for it to toy with the idea of presenting
a northern presidential flag bearer in 2023,” it said.
Atiku Begins e-registration of Supporters, Groups for 2023 Contest Meanwhile, a group that identified itself as Atiku Support Organisation (ASO) has embarked on massive e-registration of members to rally support for Atiku ahead of the 2023 contest. National Publicity Secretary of the organization, Dr. EI Mo Victor, said in a statement that the membership drive is part of a deliberate effort towards attaining the objectives of the organization. He requested interested members of the public to use the registration link: https:// atikusupportorganization.com/ register
LIBYA’S INSTABILITY PERPETUATES ILLEGAL ARMS FLOW INTO NIGERIA, SAYS BUHARI the insecurity in the Northwest will be subdued. The governor, in a series of tweets on his Twitter handle said they had fruitful discussions and deliberations on the best ways to combat insecurity. He added that the deliberations would be forwarded to appropriate quarters for further action. “I hosted governors of the North-west zone and that of Niger State. “We had fruitful discussions and deliberations on the best ways we believe the insecurity being faced in the states will be subdued. “These deliberations will be forwarded to appropriate quarters for further action,” Masari said. Masari, on a live TV programme on Wednesday
had stated that Nigeria had become economically attractive to kidnappers and bandits within the Sahel region.
SGF Asks States to Secure Forest Reserves The SGF, Boss Mustapha, has charged states to evolve a mechanism for securing forest reserves, which fall under their purview Mustapha, at the first quarter, 2021 meeting of the Forum of the SGF and Secretaries to State Governments (SSGs) in Abuja, said the federal government on its part would strengthen the capacity of the National Parks Service to protect Nigeria’s 17 national parks against criminal gangs.
“We all know that these criminal elements have turned our hitherto pristine forest reserves into an operational base and hideouts from which most of their activities are launched and sustained. “Of course, we would still need our forests and other protected areas for the services they provide, especially as foreign exchange-earners, sources of job creation, guaranteeing the availability of soil nutrients and water for food security, serving as carbon sinks for addressing climate change and providing a clement environment for healthy living. “Therefore, the challenge is for governments at the state-level to put in place processes and mechanisms that were hitherto operational for maintaining sustainably
managed forests, as all forests in the country belong to state governments. “In a similar vein, the federal government will continue to strengthen the National Parks Service to ensure that all the previous seven national parks and the ten new ones created remain inviolate for use by criminal elements,” Mustapha stated. He said Nigeria had been confronted with an inexplicable escalation of violence resulting in insecurity nationwide. According to him, the development not only serves as a drain on national resources but creates a climate of uncertainty and challenges the ability of the nation to provide the atmosphere for its citizens for daily living. “Governments at all levels
have been doing their utmost to address these challenges. However, its persistence calls for approaches that are more than the conventional and normal to involve all arms of government, all apparatus of government and most importantly those that have a relationship directly with the rural communities and the citizenry,” he said. He also acknowledged that the theme for the meeting ‘The Role of Secretaries to the State Governments in Strengthening Sub-National Level Security Architecture’ reflects the need for the forum to ensure that all machinery of government work together to resolve security challenges. The Minister of Humanitarian Affairs, Disaster Management and Social Development,
Ms. Sadiya Farouk, who spoke on ‘Strengthening National Poverty Eradication Strategy,’ said the ministry had established the National Social Register (NSR) aimed at capturing in detail, the data on all poor and vulnerable citizens in the country. “So far, nearly 30 million individuals have been registered nationwide. To ensure that all stakeholders are carried along, the ministry has commenced the socialisation programme of the NSR to ensure that all MDAs recognise the need to harmonise, cooperate and mine the NSR for their project’s effectiveness. Already the NSR has been successfully socialised among the federal ministers and the international development partners,” she said.
new focus is now on increasing oil production, growing domestic gas utilisation and maturing hydrocarbon reserves to generate revenue for the nation. According to him, the growth in the industry led to the escalation of key cost drivers namely: human resources, logistics, security, direct lifting and occasional maintenance, adding that these cost drivers have become a major source of concern to stakeholders Kyari said although some of the reasons for the high cost were attributable to global economic factors, part of it was due to operational factors. The oil and gas industry, he stated, was already facing challenges even before the COVID-19 pandemic which disrupted crude oil production, demand and supply chain as well as the financial markets. He said these developments compelled oil and gas companies to either suspend or reduce the cost of operations in the face of shrinking profit margins, adding that the industry embarked on the
renegotiation of ongoing contracts, deferment of capital spend and process optimisation.
FG MULLS INCENTIVES FOR BANKS TO RESTRUCTURE OIL FIRMS’ DEBTS remain exposed to further economic shocks from oil price volatility. This year’s edition of the OLEF, the 30th in the series, was tagged “Operational Excellence and Portfolio Optimisation, a Way Forward for the Oil and Gas Industry Post-Covid-19." Sylva, who was represented by his Chief of Staff, Mr. Moses Olamide, an engineer, explained that in recent years, global commodity prices, particularly oil, has been moving downward. He said the trend was exacerbated by the global pandemic in December 2019 with negative feedback on the oil and gas industry and invoking the critical need to recalibrate operations. The minister stated that President Muhammadu Buhari recognised the significance of the oil and gas industry as an enabler of national growth and development, stressing that his ministry has carried out some strategic priorities to ensure the sustainability of the Nigeria economy, create jobs and take millions of Nigerians
out of poverty. “In this regard, all stakeholders were brought together to find a cost reduction strategy in the upstream sector through contract negotiations, reduction of contracting circle time, sharing of common facilities, curtailment of personnel logistics, review of crude handling contracts and installation of least automatic custody transfer unit. “Government is equally considering the granting of regulatory forbearance to banks to restructure terms of facilities to oil and gas investments that are currently facing debt servicing challenges due to the COVID-19 pandemic,” Sylva added. On the petroleum industry, the minister said in the downstream sector, marketdriven price of petrol was being considered to complete full deregulation of white products in Nigeria. He added that in the gas sector, the federal government has inaugurated the national gas expansion programme to spearhead the adoption and use of natural gas products
like Liquefied Petroleum Gas (LPG), Compressed Natural Gas (CNG) and Liquefied Natural Gas (LNG) to fuel all prime movers across the length and breadth of Nigeria as an alternative to carbonheavy products. In his remarks, the Director, Department of Petroleum Resources (DPR), Mr Sarki Auwalu, said the department generated N2 trillion for the country in 2020, despite the downturn in the oil and gas industry caused by the pandemic. According to him, since the business environment in the industry remains fragile, operators must learn to eliminate inefficiencies by reducing cost, building partnerships and entrenching collaboration in the industry. He stated that the DPR had moved from an iron fist law enforcer to a business enabler, and instead of penalties, it is interested in collecting more royalties. “The DPR takes seriously its mandate to generate and optimise revenue for the government, serve as
advisors to the government on petroleum matters and implement applicable policy directions. “For instance, the DPR continues to exceed government revenue targets by emplacing different systems and processes that ensure transparency and accountability in oil and gas revenue generation, computation, collection and reconciliation. “Last year alone, the DPR generated over N2 trillion for this country and we intend to exceed this value this year, despite the triple forces. This is anchored on operational excellence which allows free flow of revenues to government,” he stated. Also, the Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Mallam Mele Kyari, stated that the corporation has sustained cost-cutting and survival strategies due to the pandemic. Kyari, who was represented by the Chief Operating Officer, Upstream, Mr. Adokiye Tombomieye, added that the
TOP GAINERS NGN NGN % ETERNA 0.46 5.08 9.9 LASACO 0.10 1.30 8.3 ZENITHBANK 1.50 22.00 7.3 GTBANK 1.80 29.80 6.4 DANGSUGAR 1.00 17.50 6.2 TOP LOSERS NGN % LINKAGEASSURE 0.05 0.50 9.0 CORONATION 0.05 0.50 9.0 ABCTRANS 0.02 0.28 6.6 STERLBANK 0.10 1.47 6.3 HONEYWELL 0.07 1.18 5.6 HPE Nestle Nig Plc ₦1,375.00 Volume: 1.468 million shares Value: N5.853 billion Deals: 4,040 As at yesterday 18/3/2021 See details on Page 41
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COMMENT
Editor, Editorial Page PETER ISHAKA Email peter.ishaka@thisdaylive.com
ANIOMA: QUEST FOR A NEW STATE Tonnie Oganah canvasses for a new state out of Delta
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es, the Presidency, too! And we have no blood relationship with the Charles Dickens classic, Oliver Twist. We demand our full rights as citizens who have sacrificed endlessly for Nigeria. Our capital city, Asaba, was Nigeria’s earliest capital since the days of the Royal Niger company which predates independence in 1960. Our hapless people (civilian women, children and men) were massacred at the same Asaba. Since the end of the Civil War in 1970, our people got only 20 Pounds to re-start life irrespective of their previous bank balance. Virtually all of our citizens had to pull themselves up by the bootstrap to achieve anything of value. We lack federal projects commensurate with our input to national integration and development. We are a minority of minorities, a double cross to bear. Yet the Grace of God on us is bountiful. It is this divine blessedness and uniqueness we want to shower on Nigeria from the seat of political power if given the opportunity by Nigerians. We want to use our own state to positively showcase what is possible. But who are Aniomas? We are in the current Delta State and we have Nine out of 25 local government areas viz: Aniocha North, Aniocha South, Oshimili North, Oshimili South, Ika North East, Ika South, Ndokwa East, Ndokwa West and Ukwuani. We are basically agrarian with cassava and yam as our staples. We all speak and understand Ibo. We all have four Ibo market days of (in no exact order) afo, nkwor, eke and olie/orie. All our Kings and chiefs wear the red Ibo fez cap and the kolanut is celebrated by all whether we call it ogi or oji like the Ibos. Akwa ocha, local woven wool cloth is our pride. We love palm wine and Christianity. Generally, we are career oriented and adore education. We love peace and welcome strangers. Our women are very beautiful and dutiful. Our dances are very vigorous and sexually suggestive. Waists and breasts move enticingly. Trust me on this. No viagra needed. We have more land mass than Lagos State. We have natural resources (oil and gas reserves, plus several mineral deposits) in places like Ukpai, Aboh, Kwale, Ossissa. We already have a capital in Asaba so there is no need to build a new capital. The River Niger is close by. A little dredging and ships can berth. Despite our homogeneity, we are scattered in four states of Delta, Edo, Rivers and Anambra. Onitsha and Ogbaru are Anioma. But currently in Anambra. Igbanke (late Samuel Ogbemudia’s Town) is Ika, Anioma, but trapped in Edo State as I write. Ndoni is Anioma but now in Rivers State. Why separate us from our kith and kin? Our request for a state dates back to 1951 (the oldest request even though the then Senate approved the request before the Buhari 1983 December coup put it in limbo) when the late Dennis Osadebay coined the word Anioma, an Ibo word meaning ‘the good land ‘ which also happens to be an acronym of all our people: Aniocha, Ndokwa, Ika and Oshimili. Ndokwa having represented Ukwuani as well. We are the people of Delta North senatorial District with a population of just under two million(same as Bayelsa) and a land mass of 6,300 kilometres. Therefore, our proposed Anioma State is very viable and does not need monthly Abuja allocations to survive. We will compete with the richer states of Lagos, Delta, Rivers, Akwa Ibom, etc. And one says this because the envisaged new Nigeria will be embracing fiscal and true federalism plus devolution of powers to the states and local government s. Internally generated revenue will come to the fore as unemployment, budget deficit, under employment and the attendant youth restlessness and crime become more prevalent. The term ‘re-structure’ will be upon us all if we are to survive. Under this scenario, only the fittest
AS OUR PROBLEMS TODAY ARE MORE ECONOMIC THAN POLITICAL, WE KNOW NO ONE ELSE ALIVE WHO WILL DO A BETTER JOB (THAN NGOZI OKONJO-IWEALA)
will survive. Natural unprocessed resources will give way to human resources. Thank God, as that is Anioma’s strongest point. We have always excelled wherever we find ourselves. Jim Ovia. Tony Elumelu. Nduka Obaigbena. Godwin Emefiele. Asagba of Asaba, Obi Prof Chike Edozien. Austin jj Okocha. And many more excelling at their various callings and to mention but a few. Will Ngozi Okonjo-Iweala who got our billions USD debt written off fail to perform if she becomes our first female and Ibo President of international repute? Will her good governance ethos and anti-corruption stance not serve us well? Will her international exposure at Harvard, MIT, the World Bank and lately, the World Trade Organisation hurt her zeal to serve selflessly? A woman whose mother was kidnapped yet she refused to pay dubious subsidy claims as demanded by the kidnappers! She fought corruption indeed and corruption fought back. Under President Jonathan (as now) corruption thrived but the buck did not stop on her table. She it was that introduced more transparency in government financial affairs with the treasury single account and BVN. But Jonathan lacked the political will to enforce it. Not being from a core Biafra state by birth, other non-Ibo tribes are likely to be more comfortable with her as she will not seek to avenge the numerous wrongs done to Ibos. Nothing to fear as she is a bridge builder. She is the darling of the international community as they already know and approve of her ways. As our problems today are more economic than political, we know no one else alive who will do a better job. As she is a technocrat and not a politician. Experience and age are on her side at 66. She will have to complete her four-year tenure and deliver on that mandate. However, she may perform in less time and take up the responsibility here at home if persuaded as she is not coming to steal. And from her utterances of late, she has identified the challenges and is set to dismantle them, God enabling her. Amen. My Anioma people say it is from the pace of the hand washing that you will know a quick and eager eater! She has started well by coming home to consult early enough. And it is said that sometimes, the best man for the job may be a woman. Her maternal instincts will ensure affordable and available food and housing for all. And as late MKO Abiola said, when you remove hunger from poverty, poverty becomes more bearable as you will now have the energy to work hard and think aright. Did God bring her to us for a time such as this? Many women have made a positive difference in the life of their nation: Angela Merkel, Magareth Thatcher, Ellen Johnson Sirleaf, etc. Nigeria also needs to heal as so much blood has been shed. Women are naturals for that. Her victory will heal the land overnight literally and position us for prosperity once again. But this will not be a tea party for her to win easily as we are yet to have even a female Governor in 2021! That glass ceiling has to be shattered soon enough in order to give the African girl-child assurance that there is no discrimination on grounds of sex as enshrined in our constitution. Convincing her to run may not be easy but she is not a coward or chicken. Her chances are good as women are in the majority. Women feel the worse impact of bad governance more as they worry more about the family. And what better way to end a career of excellence than to help deliver her people of Nigeria now that we are at our lowest point? I end with this Anioma maxim:’ onye cho iche ome iche.’ If you want a different result, you act differently. It is sheer madness to keep doing the same thing in the same way whilst expecting a different result. It is up to us. Chief Oganah is a lawyer, publisher and community leader
SOKOTO’S GRANT-APPLICATION TEMPLATE Sokoto State embraces transparent and accountable governance, writes Gimba Kakanda
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ast year, a friend of mine who works at an international financial institution pointed to me the reason various state governments in Nigeria have failed to access grants and secure a lasting development partnership. “We have so many grant opportunities available,” he said, “but the conditions appear like a huge sacrifice for them.” He was in Nigeria along with a team to meet with various government officials, and discuss the eligibility criteria for the financing and partnership programmes rolled out by the organization, but the visit left him utterly confused. He couldn’t understand the reluctance to open up government processes and allow for an independent audit of public accounts. My friend, however, didn’t immediately get the dilemma before the politicians. As tempting as the “free” dollars intending donors were offering was, opening up the government’s financial records for public assessment is an invitation to intense scrutiny and barrage of questions for which intelligent answers, from those in charge, may not be available. So, these state governments, specifically those who operate off the book, settle for the convenient options of dodging such partnerships to squander federal allocations which come with minimal or no supervision. Strangely, the most ambitious of them still apply for such grants despite their poor credentials, having been misled by well-paid consultants and, thus, end up with a tonne of rejections and updated application guidelines from the donor organizations. In January, when Sokoto State emerged as the topmost beneficiary of the World Bank-assisted States Fiscal Transparency, Accountability and Sustainability
(SFTAS) programme, it instigated conversations in public policy circles. It came to many policy analysts with some shock. No one seemed to know what reforms were going in the state to warrant topping such an important index. Sokoto State received N6.612 billion through the Ministry of Finance, topping the list, with the Kano State, which has the most number of people in the country, attracting N1.710 billion, which was the lowest grant. The logic of this distribution of N123.34 billion performance-based grant to eligible states may elude onlookers, but it’s based on the extent to which the states opened up their book and adhered to measurable transparency tools. Having surpassed states with a larger revenue base and population, Sokoto State’s SFTAS story made headlines and drew the curiosity of Nigerians who must’ve had enough of the secrecy with which bureaucracy functions in Nigeria. This is even more so because the state has been mostly quiet in the news, and so its emergence at the top of the index caught the Nigerian public, especially those with no keen interest in government beyond Abuja, unawares. However, SFTAS, as designed in the collaboration between Nigeria and the World Bank, is adopted to “strengthen the fiscal transparency, accountability and sustainability in participating Nigerian states”. But qualifying for this grant isn’t just based on accountability alone; applying states are expected to present verifiable records of their revenue mobilization, public procurement procedures, and debt sustainability. I was personally intrigued by how the state, which scored a lowly 2/5 in 2019, strove to achieve 14/15 in 2020. I had to read up and ask questions
to properly understand how a state considered as the heart of the conservative system would overtake “modern” Nigerian states in a race like this one. I’ve remembered that at the onset of Governor Aminu Waziri Tambuwal’s second tenure, he busted a salary-racketeering cartel and announced the state would, thenceforth, save about N500 million monthly from erasing ghost-workers. Two years down that line, with the automation of payment and revenue-collection platforms by the government, it’s unsurprising that the state’s fiscal reforms paid off, and had become an example of the open government for states in search of development grants. When, late last year, Sokoto featured in my private conversation with Seun Onigbinde, the co-founder of BudgIT, a civic organization that breaks down government spendings, he observed that “Sokoto has been doing well on our index.” With an automated financial management information system that allows for real-time reporting of government inflows and outflows, the state has made easy any intending foreign or external partner’s efforts to verify its expenditures. Sometime in January, at a roundtable discussion tagged “Fiscal Transparency Accountability and Sustainability of Nigerian States” by the Centre for International Advanced and Professional Studies (CIAPS), the Sokoto State model was projected for praise and emulation. Urging states to prioritize revenue generation and fiscal transparency, the participating public finance experts asked other states to “learn from Sokoto State that was able to lead the table of performing states”. Rotimi Olarewaju, profiled as a financial analyst in the report, “noted that Sokoto
State must be praised and used as an example for other states since it is showing others that winning the World Bank performance-based grant is possible.” Along with his team, Sokoto State’s hardworking Commissioner of Finance, Abdussamad Dasuki, has demonstrated the practicality of fiscal responsibility in a system with largely frail institutions of governance and attendant corruption. Like a typical Nigerian state, Sokoto has been a haven of ghost-workers and has a minimal revenue base to drive a jamboree among the politicians. But, despite these glaring disadvantages, the state still opened its books to subject its spendings and earnings to public examination. Beyond this search for a template, an open government stirs up the interest and participation of even the politically apathetic in policymaking. The Freedom of Information (FOI) bill exists to drive these practices, but that’s not activated the response required to sustain transparency. The choice to treat governments as secret organizations is a culture that has kept money in the pockets of too many politicians and public servants, and the fiscal reform measures demonstrated by the Sokoto government, is a template worthy of emulation. One that all state governments would do well to replicate. In a democracy, transparency should be given, not a favour to be negotiated. The point must be driven in the minds of those in public office that being accountable to those who entrusted one in the office should be seen as part of the job, not some extra cost, on the part of officeholders. It’s commendable now that the SFTA project is helping us underscore the importance of this element of democracy. Kakanda is an Abuja-based public affairs analyst
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T H I S D AY • FRIDAY, MARCH 19, 2021
EDITORIAL THE BATTLE AGAINST COVID-19 For now, AstraZeneca vaccine is a choice well-made
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gainst the backdrop of growing concerns regarding the AstraZeneca vaccine in some countries, the federal government last week assured Nigerians that there was no cause for alarm. The health authorities said that Nigeria did not receive any dose from the batch in contention, adding that all side effects reported so far in Nigeria had been mild. “We are satisfied that the clinical evidence indicates the Oxford-AstraZeneca vaccine to be safe and effective,” said the National Primary Health Care Development Agency (NPHCDA). “Our assessment is in line with countries such as Spain and the UK who have indicated that they will continue to administer the vaccine because it remains an important tool to protect against COVID-19.” However, there are challenges. No fewer than eight countries, including Germany, the Republic of Ireland, Norway, Iceland and Denmark have temporarily suspended the use of AstraZeneca vaccine over growing concerns of blood clot complications. While AstraZeneca has said a review of all available safety data from more than 17 million WE ENJOIN ALL NIGERIANS vaccinated people in the European Union TO CONTINUE TO BEAT COVID-19 THE SMART AND (EU) had shown “no evidence of an inSIMPLE WAY: CONTINUE creased risk” of blood TO WEAR YOUR FACE clots in any age group MASK, MAINTAIN SOCIAL or gender, the fact DISTANCING AND WASH that these Western YOUR HANDS WITH SOAP countries have raised AS FREQUENTLY AS issues with the vaccine POSSIBLE has heightened safety concerns in Nigeria with a lot of negative campaigns on social media. Apparently to allay those fears and clear public distrust, President Muhammadu Buhari was among the first set of leaders in the country to take a jab of the AstraZeneca vaccine, a step toward immunity against Covid-19. Developed by the University of Oxford,
Letters to the Editor
AstraZeneca is one of the many vaccines that are now in the market, and has been approved for use in Nigeria by the regulatory body, the National Agency for Food and Drugs Administration and Control (NAFDAC). It’s a choice well-made particularly in a country afflicted with regular power outages: unlike some other ones, AstraZeneca can be kept in normal refrigerated conditions which makes it suitable for our environment.
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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
T H I S DAY N E W S PA P E R S L I M I T E D EDITOR-IN-CHIEF/CHAIRMAN NDUKA OBAIGBENA GROUP EXECUTIVE DIRECTORS ENIOLA BELLO, KAYODE KOMOLAFE, ISRAEL IWEGBU, IJEOMA NWOGWUGWU, EMMANUEL EFENI DIVISIONAL DIRECTORS BOLAJI ADEBIYI, PETER IWEGBU, ANTHONY OGEDENGBE DEPUTY DIVISIONAL DIRECTOR OJOGUN VICTOR DANBOYI SNR. ASSOCIATE DIRECTOR ERIC OJEH ASSOCIATE DIRECTORS PATRICK EIMIUHI, SAHEED ADEYEMO CONTROLLERS ABIMBOLA TAIWO, UCHENNA DIBIAGWU, NDUKA MOSERI DIRECTOR, PRINTING PRODUCTION CHUKS ONWUDINJO HEAD, COMPUTER DEPARTMENT PATRICIA UBAKA-ADEKOYA TO SEND EMAIL: first name.surname@thisdaylive.com
s of Wednesday, almost all 36 states and Federal Capital Territory (FCT) had received or already rolling out the vaccination exercise. Lagos State, the epicentre of the pandemic in the country got some 507,000 doses of the vaccine. Even so, many health professionals and other stakeholders demand equity in the processes as well as strict adherence to the initial plans of vaccinating health workers and other front liners. Evidently considering the deleterious impact of the pandemic on his men, the Lagos State branch of the Nigerian Medical Association (NMA) said health workers should be given priorities since they are at the frontline. Indeed, the government, at various levels, has said it would prioritise health workers and other high-risk personnel including the elderly and those suffering from cancer, diabetes, and related diseases. But we are also interested in the speed of vaccination. The federal government plans to vaccinate 40 per cent of the population before the end of the year, and 70 per cent by the end of 2022, perhaps to achieve herd immunity. At the rate we are going, that would be a tall order. The four million free doses being shared among the states are insignificant in the long run. The 41 million doses of the same vaccine approved by the government through the auspices of the African Union are still being expected. In the face of the second wave, our country lost many people to the pandemic. We can ill-afford more. We therefore enjoin all Nigerians to continue to beat Covid-19 the smart and simple way: continue to wear your face mask, maintain social distancing and wash your hands with soap as frequently as possible.
TO OUR READERS Letters in response to specific publications in THISDAY should be brief (150-200 words) and straight to the point. Interested readers may send such letters along with their contact details to opinion@thisdaylive.com. We also welcome comments and opinions on topical local, national and international issues provided they are well-written and should also not be longer than (9501000 words). They should be sent to opinion@thisdaylive.com along with the email address and phone numbers of the writer.
Children, Aunties And Slave Labour
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am he who still loves doing the quaint “old-school” things. For instance, despite the platforms offered by electronic messages and e-document transfers, I’m still stuck with sending parcels of hardcopy documents to back-up the online versions I may have sent. So it was one morning a little over a week ago; I hurried to catch a connecting urban commuter transport to the main bus station at Minna, the Niger State Transport Authority (NSTA) motor-park, from whence I’d send to my daughter (my obvious next-of-kin) the laminated document of my formal notice of switch of pension fund administrator (from the IBTC PFA to the ASUU’s NUPEMCO) by the nowpopular informal courier route of bus-driver messaging. As I waited for motorised public-transporters with other earlymorning rush-hour commuters who were taking children to school by the road kerb, my attention was drawn to a young girl in the secondary school garb of the Ahmadu Bahago Secondary School sniveling loudly by the roadside and seated all by herself in distress. I walked up to her and inquired what the problem was. No answer and more crying. Obviously, one of the adults taking kids to school knew her and just simply dismissed her condition but I was moved by pity; here was a young lady in her early teens, much younger than my daughter, who should be happily looking forward to her morning classes but was in obvious mental anguish. I pressed her for explanation whilst admonishing her to be strong and
go to school. She relented after much urging and then she opened up to me that it was her mother who gave her a beating that early morning hour. “Your mother?,” I asked in incredulity. I persuaded her to board a motorised rickshaw headed the way of her school and the way I was going whilst I became an impromptu comforter and consoler. She was Igbo. Na wa o my pikin, “you mean your Mama beat you up this morning? What for?” Oh, the abusive woman wasn’t her “real Mama” but her “auntie.” That explained a lot. Her Mama was dead and her father lives in the village in Eastern Nigeria. This “auntie” brought her over to Minna to do neverending domestic chores and lashes her at all times. More sobs and more sly glances my way inside the rickshaw. I wept in my heart. Here was a most unhappy beautiful early-teen kid who did not have to suffer. But, then, there is this recurring pattern of domestic abuse of relatives’ minors that one can heavily associate with the Igbo tribal people of Eastern Nigeria. What’s all this about going over to the village and artfully tricking some poor relative to hand over their beloved kid over to you in order to ensure their continued “education” but then bringing them over to town to be veritable slaves? How could anyone be pleased that slave-labour equivalent was the greater input that helped weaned their kids and see them through primary and high schools? How “special” are those children who benefit from relatives’ slave labour? Methinks the Igbo have a real
soul-searching to do in this regard. Unselfishly caring for one’s relatives’ children is a virtue of the Christian faith that the Igbo are proud to identify with. All attitudinal semblance to domestic, chattel, and institutionalised slavery must be expunged and the admonition of St. Paul should be with us at all times. Hasn’t Jesus Christ set us free already? That is the reason Christians say they are “children of God” and not “slaves of God.” This conscious pronunciation has a big implication for the way the world goes about its business today. Soon, it was time for the young girl to drop off at her school gate. I urged her, “be strong” because if you are teary-eyed all day, “these unscrupulous okada boys” will take advantage of you. After all, this is Northern Nigeria. I could only part with N200 (I hated my perpetual lack of money that morning). See the pain in my heart? An Igbo Christian family does not do right in the home front, thus an innocent maiden is thrown out to the “wolves” in the wild streets of Minna. One thing I am sure of that morning was the unlikelihood of a “Hausa family” risking the wellbeing of a maiden so tender and gentle. Nd’Igbo, biko’nu, do not expose your family institutions to ridicule anymore. The fight for the soul of Biafra must not be ridiculed by opponents who throw barbs at weak domestic administration. Sunday Adole Jonah, Department of Physics, Federal University of Technology, Minna, Niger State
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FRIDAY MARCH 19, 2021 •T H I S D AY
UNION BANK OF NIGERIA PLC SUMMARY FINANCIAL INFORMATION FOR THE YEAR ENDED 31 DECEMBER 2020 The directors present the summary financial information of Union Bank of Nigeria PLC (' the Bank") and its subsidiary companies (together the "Group") for the year ended 31 December 2020. These summary financial information are derived from the full financial statements for the year ended 31 December 2020 and are not the full financial statements of the Group and the Bank. The full financial statements, from which these summary financial information were derived, will be delivered to the Corporate Affairs Commission within the required deadline. The Bank's Auditor issued an unmodified audit opinion on the full financial statements for the year ended 31 December 2020 from which these summary financial information were derived. CONSOLIDATED AND SEPARATE STATEMENTS OF FINANCIAL POSITION AS AT 31 DECEMBER 2020 GROUP ASSETS Cash and cash equivalents Non-pledged trading assets Pledged assets Derivative assets held for risk management Loans and advances to customers Investment securities Trading properties Investment properties Investment in subsidiaries Right of Use Assets Property and equipment Intangible assets
Deferred tax assets Other assets Defined benefit assets Assets classified as held for sale TOTAL ASSETS LIABILITIES Derivative liabilities held for risk management Deposits from banks Deposits from customers Current tax liabilities Deferred tax liabilities Lease liabilites Other liabilities Employee benefit obligations
Debt securities issued Long term subordinated bond Other borrowed funds Liabilities classified as held for sale TOTAL LIABILITIES
BANK
| CONSOLIDATED AND SEPARATE STATEMENTS OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME | FOR THE YEAR ENDED 31 DECEMBER 2020 | || GROUP BANK
31 DEC 2020 31 DEC 2019 31 DEC 2020 31 DEC 2019 | N'million N'million N'million N'million | 270,707 320,303 262,730 320,707 | 52,212 23,322 52,212 23,322 | Gross earnings 100,007 20,150 100,007 20,150 | 520 7,081 520 7,081 | Interest revenue calculated using the effective interest rate method 692,803 550,613 692,803 550,613 | Interest expense calculated using the effective interest rate method 351,862 257,085 351,862 253,633 | Net interest income 187 187 187 187 | Net impairment reversal/(charge) for credit losses | Net interest income after impairment charge for credit losses 4,817 5,701 2,195 2,195 | 2,740 2,921 2,740 2,921 Net fee and commission income 57,364 57,968 57,342 57,934 | Net trading income 5,212 5,382 5,211 5,381 | Recoveries 95,875 95,875 95,875 95,875 | Net income from other financial instruments at FVTPL 439,952 361,711 440,227 361,973 | Other operating Income 1,475 1,395 1,475 1,395 | 2,075,733 1,709,694 2,065,386 1,703,367 | Operating Income 115,293 162,537 8,372 8,372 | Net impairment write-back on other financial assets Net operating income after net impairment write-back on other financial 2,191,026 1,872,231 2,073,758 1,711,739 | assets | Personnel expenses | Depreciation of property and equipment 2 2,111 2 2,111 | Amortisation of intangible assets | Other operating expenses 4,018 4,018 886,263 1,131,116 886,328 | Total expenses 1,126,287 797 486 778 380 | | Profit before tax 280 226 1,812 1,651 1,812 1,651 Income tax expense 425,718 433,114 425,117 436,262 | Profit for the year from continuing operations 996 842 996 840 | 48,629 13,947 48,629 13,947 | Loss for the year from discontinued operations 29,546 29,104 29,546 29,104 Profit before tax 184,223 109,924 184,223 109,924 | Income tax expense 1,822,308 1,477,668 1,826,237 1,480,547 Profit after tax 104,400 142,221 1,926,708 1,619,889 1,826,237 1,480,547 | Other comprehensive income, net of income tax:
31 DEC 2020 31 DEC 2019 31 DEC 2020 31 DEC 2019 N'million N'million N'million N'million 160,292
166,545
156,885
159,861
113,157 (55,755) 57,402 2,253 59,655
117,071 (64,551) 52,520 (184) 52,336
112,920 (56,024) 56,896 2,253 59,149
116,524 (64,839) 51,685 (184) 51,501
10,501 11,156 7,240 7,597 7,985 44,479 104,134 307
11,313 8,198 8,760 7,123 7,443 42,837 95,173 688
10,501 11,156 7,240 7,597 7,471 43,965 103,114 306
11,313 8,198 8,760 7,123 7,943 43,337 94,838 688
104,441 (32,587) (5,816) (1,893) (38,171) (78,467)
95,861 (33,398) (5,791) (1,927) (29,901) (71,017)
103,420 (32,454) (5,805) (1,893) (37,843) (77,995)
95,526 (33,255) (5,792) (1,927) (29,806) (70,780)
25,974 (845) 25,129
24,844 (478) 24,366
25,425 (772) 24,653
24,746 (371) 24,375
(6,457) 19,517 (845) 18,672
(4,491) 20,353 (478) 19,875
25,425 (772) 24,653
24,746 (371) 24,375
106 (112) 2,077 (2,102) 363 36
(411) 613 7,494 -
106 (112) (1,653) 363 36
(411) 7,527 -
368
7,696
(1,260)
7,116
Total comprehensive income for the year
19,040
27,571
23,393
31,491
Profit attributable to: Equity holders of the Bank Non-controlling interests Profit for the year
18,535 137 18,672
19,608 267 19,875
24,653 24,653
24,375 24,375
Total comprehensive income attributable to: Equity holders of the Bank Non-controlling interests Total comprehensive income for the year
18,903 137 19,040
27,304 267 27,571
23,393 23,393
31,491 31,491
KEY FINANCIAL INFORMATION Total non-performing loans & advances Total non-performing loans to total gross loans and advances
29,445 4.00%
34,760 5.84%
29,445 4.00%
34,760 5.84%
85k
83k
84k
84k
-22k
-15k
-
-
Fair value gain on equity instrument at fair value through other comprehensive
EQUITY Share capital
Share premium Retained earnings
Other reserves EQUITY ATTRIBUTABLE TO EQUITY- HOLDERS OF THE BANK
14,633 133,457 23,399 86,149
14,607 133,235 21,437 76,520
14,633 133,457 31,403 68,028
| income | Remeasurement of defined benefit liability 14,607 | Foreign currency translation differences for foreign operations 133,235 Fair value (losses)/gain on debt instruments at FVTOCI 23,323 | Changes in allowance for expected credit losses of debt instrument at FVTOCI 60,027 | Changes in allowance for expected credit losses on pledged asset at FVTOCI
231,192 | | | Non-controlling interest 6,680 6,543 TOTAL EQUITY 264,318 252,342 247,521 231,192 | | TOTAL LIABILITIES AND EQUITY 2,191,026 1,872,231 2,073,758 1,711,739 | | The full financial statements were approved by the Board of Directors on 23 February 2021 and signed on its behalf by: Beatrice Hamza Bassey (Director) FRC/2020/003/00000020477 Emeka Emuwa (Group Managing Director) FRC/2013/CIBN/00000001774
Joe Mbulu (Chief Financial Officer) FRC/2014/ICAN/00000006110
257,638
245,799
247,521
Other comprehensive income for the year
Earnings per share for profit / (loss) from continuing operations attributable to equity holders of parent (Basic) Earnings per share for profit / (loss) from discontinued operations attributable to equity holders of parent (Basic)
The above summarised financial statements and report of the independent auditor are published in accordance with the requirements of the Banks and Other Financial Institutions Act.
BOARD OF DIRECTORS Joseph Mbulu, Emeka Okonkwo, Adekunle Sonola, Obafunke Alade-Adeyefa (Mrs.), Richard Burrett (British), Ian Clyne (Australian), Kenroy Dowers (Canadian), Paul Kokoricha, Taimoor Labib (American), Emeka Ogbechie, Mark Patterson ( British)
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FRIDAY MARCH 19, 2021 • T H I S D AY
CONSOLIDATED AND SEPARATE STATEMENTS OF CASH FLOWS FOR THE YEAR ENDED 31 DECEMBER 2020 GROUP
Cash flows from operating activities Profit before tax
BANK
Description Number Customer complaints in financial statements for the year ended 31 December 2020 5,743 31 DEC 2020 31 DEC 2019 31 DEC 2020 31 DEC 2019 Pending complaints brought forward N'million N'million N'million N'million | Complaints received 357,820 | Complaints resolved 351,392 | Unresolved complaints escalated to CBN 12,171 19,517 20,353 25,425 24,746 | |
Amount claimed N'million 108 10,325 10,146 287.75
Amount refunded N'million 3,391 -
INDEPENDENT AUDITOR'S REPORT ON THE SUMMARY FINANCIAL INFORMATION Adjustments for: Impairment writeback on loans and advances to customers Modification of financial assets Impairment (writeback)/charge on cash and cash equivalents Impairment charge/(write-back) on debt securities Impairment charge on pledged assets Impairment (write-back)/charge on financial guarantee Fair value gain on investment properties Fair value loss on derivatives Expected credit loss on financial assets at FVTOCI
(307) (1,308) (38) 5,304 512 1,893 248 (1,033) 19,624 232 (3) 429
(9,342) 9,480 12 (16) 50 (688) (3) (965) (228) 5,262 1,927 (1,172) 17,234 (18) 628
(306) (1,274) 5,293 512 1,893 248 (1,033) 19,893 232 (3) 420
(9,342) 9,480 12 (16) 0 50 (688) (965) (300) 5,262 1,927 (1,790) 17,234 (18) 628
6 45,076
(17) 42,497
8 51,672
(17) 46,203
(28,890) (79,871) (139,789) (77,934) 3,944 (2,109) 4,018 240,024 (7,143) (42,674) (480) (429) (41) 11,500 (32,124)
(9,051) 28,689 (85,486) (2,921) (36,177) (6,052) 991 (99,477) 28,670 1,475 263,791 126,949 (375) (636) (56) 5,775 131,657
(28,890) (79,871) (139,789) (77,948) 3,944 (2,109) 4,018 244,788 (10,892) (35,077) (374) (420) (41) (35,912)
(9,051) 28,689 (122,714) (2,921) (38,106) (6,052) 994 41,915 1,475 267,801 208,233 (223) (636) (56) 207,318
1,286 4,915 (96,835) (295) (8,396) (1,634) 1,033
(671) 1,827 (50,046) (3,575) (1,516) 625 1,172 (5,272)
Net cash used in investing activities
(99,926)
(57,456)
4,878 (99,838) (295) (8,394) (1,634) 1,033 (104,250)-
1,827 (71,614) (3,575) (1,517) 625 1,790 (72,463)-
Cash flows from financing activities Proceeds from other borrowings Repayment of borrowings Payment for lease liabilities Interest paid on borrowings Proceed from debt securities issued Proceed from bond issued Dividend paid to non-controlling interest Dividend paid during the year Net cash generated from financing activities
81,321 (7,048) (107) (19,915) 35,000 442 (7,313) 82,380
30,133 (15,100) (17,550) 87 29,420 (475) 26,515
81,321 (7,048) (107) (20,184) 35,000 442 (7,313) 82,111
30,133 (15,184) (17,550) 87 29,420 26,906
(49,670) 320,385
621 100,716 233,566
(58,051) 320,789
161,761 | 159,028 |
270,715
(14,518) 319,764
262,738
| 320,789
Allowances on other assets Reversal of impairment on other assets Write-off of property and equipment
Gain on sale of property and equipment Gain on disposal of investment property Gain on disposal of equity investment Depreciation of property and equipment Depreciation of right-of-use assets Amortisation of intangible assets Share based payment expenses Dividend income from equity investment
Interest expenses on other borrowings Interest on lease liabilities Increase in plan assets Contributions to defined contribution plans Increase in liability for defined benefit plans Changes in Non-pledged trading assets Pledged assets Loans and advances to customers Right-of-use asset Other assets Derivative financial instruments-assets Derivative financial instruments-liabilities Deposits from banks Deposits from customers Lease liabilities Other liabilities Income tax paid Payment of defined contribution plan Payment of long service award Cashflows from discontinued operations Net cash provided by/(used in) operating activities
(2,401) (74) 425 50 (253) (364) 2,617
(2,401) (74) 425 50 (253) 2,617
| To the Shareholders of Union Bank of Nigeria Plc | Report on the Summary Financial Information | The summary financial information, which comprise the consolidated and separate statements of financial position | as at 31 December 2020, the consolidated and separate statements of profit or loss and other comprehensive | income, and the consolidated and separate statements cash flows are derived from the audited financial statements | of Union Bank of Nigeria Plc for the year ended 31 December 2020.
Cash flows from investing activities Proceeds from disposal of investment properties Proceeds from sale of property and equipment Acquisition of investment securities Prepaid right-of-use assets Acquisition of property and equipment Acquisition of intangible assets Proceeds from sales of assets held for sale Dividend received
CashÀows from discontinued operations
Effect of exchange rate fluctuations on cash held Net (decrease)/increase in cash and cash equivalents Cash and cash equivalents at beginning of year Net change in cash and cash equivalents from discontinued operation Cash and cash equivalents at end of year
In our opinion, the accompanying Summary Financial Information are consistent, in all material respects, with the audited financial statements in accordance with the Companies and Allied Matters Act, 2020, the Financial Reporting Council of Nigeria Act, 2011, the Banks and Other Financial Institutions Act, 2020 and other relevant | Central Bank of Nigeria guidelines and Circulars. | | | | | Summary Financial Information | The summary of the financial Information do not contain all the disclosures required by the international Financial Reporting Standards, the Companies and Allied Matters Act, 2020, the Financial Reporting Council of Nigeria Act, | 2011, the Banks and Other Financial Institutions Act, 2020 and other relevant Central Bank of Nigeria guidelines and | Circulars. Reading the summary financial information and the auditors report, thereon, therefore, is not a substitute | for reading the audited financial statements and the auditor's report thereon. | | | The Audited Financial Statements and our Report Thereon | We expressed an unmodified audit opinion on the audited financial statements in our report dated 18 March | 2021. That report also includes the communication of key audit matters. Key audit matters are those matters that, in | our professional judgment were of significance in our audit of the financial statements of the current period. | | Directors’ Responsibility for the Summary Financial Information | The Directors are responsible for the preparation of the summary financial information in accordance with the | Companies and Allied Matters Act 2020, and the Banks and Other Financial Institutions Act, 2020 and and other | relevant Central Bank of Nigeria guidelines and Circulars. | | Auditor’s Responsibility | Our responsibility is to express an opinion on whether the summary financial information are consistent, in all | material respects, with the audited financial statements based on our procedures which were conducted in | accordance with the International Standards on Auditing (ISA) 810 (Revised), Engagements to Report on Summary | Financial Statements. | | Report on Other Legal and Regulatory Requirements | | Compliance with the requirements of the Companies and Allied Matters Act, 2020 | In our opinion, proper books of account have been kept by the Group and the Bank, so far as appears from our | examination of those books, and the Group and the Bank’s statements of financial position and statements of profit | or loss and other comprehensive income are in agreement with the books of account. | | Compliance with section 27(2) of the Banks and Other Financial Institutions Act of Nigeria and Central Bank | Circulars BSD/1/2004 | The Bank paid penalties of N10 million in respect of contraventions of the Banks and Other Financial Institutions Act | during the year ended 31 December 2020. Details of these contraventions and penalties paid are disclosed in note | 50 to the audited financial statements. | | Related party transactions and balances are disclosed in note 49 to the audited financial statements in compliance | with the Central Bank of Nigeria Circular BSD/1/2004. || | Signed: | | | Anthony Oputa, FCA FRC/2013/ICAN/00000000980 | For: Ernst & Young | Lagos, Nigeria | 18 March 2021 | | |
The above summarised financial statements and report of the independent auditor are published in accordance with the requirements of the Banks and Other Financial Institutions Act.
BOARD OF DIRECTORS Joseph Mbulu, Emeka Okonkwo, Adekunle Sonola, Obafunke Alade-Adeyefa (Mrs.), Richard Burrett (British), Ian Clyne (Australian), Kenroy Dowers (Canadian), Paul Kokoricha, Taimoor Labib (American), Emeka Ogbechie, Mark Patterson ( British)
T H I S D AY ˾ FRIDAY MARCH 19, 2021
18
POLITICS
Group Politics Editor NSEOBONG OKON-EKONG Email: nseobong.okonekong@thisdaylive.com 08114495324 SMS ONLY
A Portrait in Peerless Selfless Service Moses Ekpo, Deputy Governor of Akwa Ibom State honours the memory of the first civilian Governor of Lagos State, Alhaji Lateef Jakande, the man who helped to hone his skill in journalism
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ven in death, the first civilian Governor of Lagos State and former Minister of Works and Housing, Alhaji LateefJakande, has continued to stir the hornet’s
nest. Since his passage on the February 11, 2021, at the ripe age of 91, the media has been agog with reactions to his transition, the common thread in the commentaries being his unique brand of selflessness, which borders on self-abnegation. For Nigerians to adopt the standard which Jakande set for himself, they must first come to terms with his philosophies and world-view. What, precisely, were the beliefs which resulted in his austere life-style and penchant to continuously empty himself in bold and audacious service to God and his fellow man? “John West” – as was then his pen-name – hired me as Proof Reader-In-Training at the renowned Daily Service Group of Newspapers on Apongbon Street in March, 1960. I am who I am today because I cut my teeth in Journalism under his strict and caring watch. That privileged mentor-protégé relationship between us, puts me in good stead now that he has passed on to attempt a reconstruction of what constituted the spark-plug for his peerless performance in public service in particular, and unprecedented life in general. There is a wide consensus that evil in man is a consequence of ignorance. The selfish, for instance, ignorantly thinks it is in his best interest to corner everything for himself. In his myopic vision of the world, he misses the point that selflessness is the ultimate key to happiness. And this is because on the surface, selflessness appears to him to run contrary to the very notion of happiness -come to think of it, isn’t the pursuit of happiness by its very nature selfish, considering that the “happiness” in question is the happiness of the individual self? “No, pursuing the happiness of our individual selves does not have to depend on selfish means,” said Joshua Becker, the American motivational speaker and author, who has gone further to explain that though some form of happiness may come from selfishness, such is hardly enduring. In his words, “nobody seeks the counsel of the selfish person; nobody is willing to give himself up for one who desires his own kingdom above all things.” I knew and worked with His Excellency, Alhaji Lateef Jakande at a time when the principles which later became the lodestar for his life were taking root. For him, the individual, as a fraction of the social whole, can best guarantee the adequate protection of his true interest only within the context of that whole. He believed that we are uniquely drawn to those who selflessly give of themselves; that those who love and give generously find a sort of fulfillment that extends beyond position, title and stature. Jakande believed that “those who act selflessly possess a kind of authority that reaches into the heart and soul of the people – their examples are studied; their counsel is sought; their stories are told in positive terms; and their happiness is truly lasting,” quoting Becker again. There is, indeed, a correlation between a leader’s belief and his socio-economic-infrastructural out-put. In Western socio-political thought, the leader is an architect of society. He conjures up a design in the heavens, and his job is to as much as possible replicate that model on terra firma in order to create a paradise on earth for his people. The out-of-this-world infrastructural wonders of the ancient world, such as the Hanging Garden of Babylon; the Colossus of Rhodes; the Mausoleum at Halicarnassus, etc, are all products of the radical beliefs and ideologies of intensely visionary leaders
who, in the grandeur and sophistication of their output, anticipated the wizardry made possible by the science and technology of today. It is not only in secular scenarios that we find instances of unprecedented leadership heroism fired by belief and faith. From the scriptures we read that “by faith the worlds were framed by the word of God, so that the things which are seen were not made by things which appear. By faith Enoch was
translated that he should not see death, … by faith Noah moved with fear and prepared the ark …. By faith Abraham … obeyed God, and went out, not knowing whither he went … for he looked for a city which had foundations, whose builder and maker is God.” In like manner, Jakande by faith - following in the footsteps of his mentor - the legendary Chief Obafemi Awolowo, envisioned himself as a socio-political
Why Oyetola Deserves a Second Mandate
Kolawole Salami gives Governor Gboyega Oyetola of Osun State a passmark for excellent performance in critical areas of assessment and endorses him fit for another tenure
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very innocuous, tiny but hugein-accusation publication came out in a national newspaper recently Entitled Why Governor Gboyega Oyetola’s Mandate Should Not Be Renewed in 2022, from all intent and purposes, the piece was an attempt to stand logic in its head, reverse information in the Osun State public domain about their government and misinform the populace on the correct situation of things in the State of the Living Spring. The writer ’s main aim, it will appear, was to hold the sachet of untruths up as a testimony of his abiding loyalty to the cult of his political benefactors. He also apparently wanted to fling the write up in the sky, to the delight of the gods of an immediate past era in Osun. This is because it contains tissues of untrue, spurious and illogical claims that make people in Osun, who are aware of the true state of things, to derisively laugh at the piece and its writer. To be sure, the whole write-up smacks of a transfer of aggression of tiny political elements in Osun State who profited from the ills of the past and who feel that a return to an immediate past status quo that nourished, relished propaganda and which profited the indolent, should be the order of the day. From the word go, the writer did not disguise that he had no respect for facts. He began to assault facts right from the beginning, with his full fusillade. Like someone who meant business and had no time for preambles, the piece went into an 11-point reason why Governor Gboyega Oyetola did not deserve mandate renewal from the people of Osun State.
This particular piece accused the Oyetola government of failure to pay gratuities and salaries of civil servants in the state. The people of Osun State must by now be laughing themselves hoarse at this allegation. This is because they have transited from the ingenuous and apt tag of afusat appended on Oyetola’s predecessor for the government’s rabid obsession with paying half salaries for years of its maladministration. Since he became governor, Oyetola has prided himself as abiding by that biblical injunction that the sweats on the brow of a worker must not dry before his wages are paid him. Not only does the Oyetola government not operate that wicked policy of halving salaries of workers, it has consistently paid the workforce as at when due. It then extended that same fidelity to the senior citizens of the state who served it with all their might. In fact, it is on record and the details are in the public domain that government has thus far released and paid about N31 Billion as pensions to all categories of pensioners in the state since 2018. Oyetola told the pensioners themselves this much at the presentation of bond certificates to retired public servants in Osogbo about two weeks ago. He also told them that, not minding the harsh economic climate, his government had been consistent in releasing the sum of Five Hundred and Nine Million (N509,000,000.00) on a monthly basis to cater for pensioners under the old pension scheme. NOTE: Interested readers should continue in the online edition on www.thisdaylive.com
engineer. His radical belief in the possibility of an egalitarian society propelled his hands to prodigious outputs; proving again that when the passion is right, other things fall into plate. By faith he built, in just four years, all that constitute the infrastructural essence of modern Lagos - beginning with the State Secretariat, which houses all the state ministries and the Lagos State House of Assembly Complex. His government built the Lagos State Television, Radio Lagos, General Hospitals in zones all over the state. One of the legacies that endeared him to the people of the state was the massive construction of low-cost houses in diverse places in Lagos, such as Ijaiye, Dolphin, Oke-Afa, Ije, Abasan, Iponrin, Ipaja, Abule Nla, Epe, Amuwo-Odofin, Anikantamo, Surulere, Iba, Ikorodu, amongst others. His government established the Lagos State University, a Teacher’s Training College and the College of Education. Fulfilling the UPN’s promise of free education, he instituted a singular school system that ensured genuine free education in Lagos state. It is acclaimed that he raised the number of primary schools in the state to 812 with 533,001 pupil population (as against 605 primary schools with 434, 545 pupil population which he met in 1979) and secondary schools to 223 with 167, 629 students (as against 105 schools with 107,835 students in 1979). He constructed 11,729 classrooms with a maximum of 40 children per class between March and August, 1980. By 1983, when he left office, he had constructed over 22,000 classrooms. Capturing the fruitage of Jakande’s boundless energies as governor of Lagos state, will amount to documenting the entire Lagos. And in accounting for the enigma which he represented as an administrator, an undeniable factor would be his idealism as a journalist who had carved out a niche for himself. He began his journalism career in 1949 at Daily Service, and joined Awolowo’s Nigerian Tribune where he rose to be the editor. He later established John West Publications and began to publish the Lagos News. He was the first President of Newspapers Proprietor’s Association of Nigeria. He helped birth the Nigeria Union of Journalists as well as the Guild of Editors, aside from the Nigerian lnstitute of Journalism, Ogba-Lagos. He was the first Nigerian to head the International Press Institute. Jakande’s gravitas was legendry, and in all the areas he decided to venture into, he operated with an unusual horse-power. Whether on the spur of the moment, or out of genuine rhapsody over his legacies, the avalanche of reactions to his death is indeed an indication that an “iroko” had fallen and a major vacuum has been created. Nature abhors a vacuum, meaning that even for the larger-than-life persona of Jakande, an appropriate replacement would have to be found to continue the mystical tramp of progress. A similar need probably arose at the passage of Jonathan Swift, the 18th century Irish poet and author of Gulliver’s Travels; most likely also against the background of the kind of decadence afflicting our country today. It elicited this own epitaph from Swift – “Here is laid the body of Jonathan Swift, Doctor of Divinity, Dean of this Cathedral Church, where fierce indignation can no longer rend his heart. Go, traveller, and imitate if you can, this earnest and dedicated champion of liberty.” Like Swift, Jakande was a first class wordsmith and champion of liberty. Misunderstanding – even from his kinsmen - and the traducer’s diatribe dogged his life. With necessary modifications, I therefore beg to borrow Swift’s epitaph as my epigraph for the monumental life and times of this man of goodwill, my mentor and boss.
T H I S D AY ˾ FRIDAY MARCH 19, 2021
19
PERSPECTIVE
Why Mu’azu Deserves a Chance as Nigeria’s President Burna Boy, the Grammy and His Pan-Africanism Chido Nwangwu, Publisher, USAfricaonline.com commends the selfless traits of Nigerian music star, Damini Ogulu, better known as, Burna Boy and celebrates his recent success at the Grammy Awards
COURTESY: Pinterest.com
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urna Boy’s authenticity drives his Afrobeats music. And, yes, the world took notice two years ago when his music and provocative videos broke through — from Aba to Zurich, from Boston to Benin. His album ‘’Twice As Tall’ won for the 29-years old Burna Boy (real name Damini Ogulu) the Best Global Music Album award at the 63rd Grammy Awards, on Sunday, March 14, 2021. Being true to his roots as a Pan-Africanist activist and thinker, he proclaimed to the world that, “Africa is in the house, men! Africa, we are in the house! You get me? This is a big win for Africans of my generation all over the world and this should be a lesson for every African out there. No matter where you are, no matter what you plan to do, you can achieve it. No matter where you are from because you are a king. Look at me: Grammy award-winning Burna Boy.” Also, another world famous music superstar Wizkid was recognized for his collaboration with Beyonce on ‘Brown Skin Girl’ which won the Best Music Video. Blue Ivy, the talented daughter of Beyonce and Jay Z spoke/sang/appeared in the video. Let’s go back to Burna Boy and why I like his music, his courage and panAfrican message. During the boiling summer of 2019 in South Africa which had xenophobic attacks against other Africans and increasing reports of gender-based violence in the country, Burna Boy, Kwesta, Jidenna, Busiswa, Minnie Dlamini and other South African acts were advertised to headline a concert in November 2019 to unify Africans and take a stand against femicide. It was announced that “Part of the proceeds of the concert will be donated to the victims of South Africa’s recent xenophobic violence towards African foreign nationals in an effort to bring everyone together.” Before the concert at the Sun Arena in Pretoria, Burna Boy exchanged heated messages with South African rapper AKA during South Africa’s xenophobic attacks. Burna Boy also made it clear that he would not visit or play in South Africa until the government had put measures in place to stop such violence. After those exchanges, some South African artistes started a campaign against Burna Boy being a part of the concert. What was his crime? Simply for
speaking truth to power. It is so ridiculous. Remarkably, the group called the Tshwane Entertainment Collective then wrote a letter to South Africa’s Minister of Arts and Culture, Nathi Mthethwa, asking him to prevent Burna Boy from performing in the same South Africa. Part of the letter read, “We first inquired to the minister and to the department to say, what is this all about? How is this happening? How are you guys supporting this? Then further to that we asked how are you supporting an event that also includes... so not only are you failing us with funding but you are also supporting an event that includes an artiste who has threatened violence to fellow South African artistes.” Also, Burna Boy’s music became hot tracks of interest, and he topped the music trend list the week after the Tshwane Entertainment Collective called for a boycott of his scheduled performance at the “Africans Unite” concert. Thankfully, millions of South Africans were in support of Burna Boy. Especially, the former activist with the ANC and now leader of the EFF, Julius Malema. From his Twitter account, Malema wrote: “Looking forward to receiving and being entertained by my brother @ burnaboy here at his home called South Africa. There’s no mascot that can stop him from performing, he’s one of our own and we will protect him. We must resolutely oppose regionalism led by political illiterates. I won’t be intimidated or blackmailed by bed wetting boys, welcome home @burnaboy. South Africa is a home for all Africans, kill me for defending an African brother, bloody cowards.” Why did I go this far back far to recall this story and actual event? It simply underscores the value of having the courage to stand up for what you believe — as long as it is fair and just, history and time will show that you’re on the right side of life. Big up to the young, courageous man that I now proclaim: Burna King.
Before the concert at the Sun Arena in Pretoria, Burna Boy exchanged heated messages with South African rapper AKA during South Africa’s xenophobic attacks. Burna Boy also made it clear that he would not visit or play in South Africa until the government had put measures in place to stop such violence. After those exchanges, some South African artistes started a campaign against Burna Boy being a part of the concert. What was his crime? Simply for speaking truth to power. It is so ridiculous
Ibrahim Sani Dawakin-Tofa presents a strong argument for the emergence of the former Governor of Bauchi State, Dr Ahmadu Adamu Mu’azu, as Nigeria’s President in 2023
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o matter how unpleasant a situation may seem, there is always a point of redemption if there is a political will and sincerity of purpose. To those with a blend of both, unpleasant situations are only puzzles meant to be fixed to create the solution; as it is often said “to those who know the working formula, achievements always are at the other side of challenges.” Since 2015, Nigeria has made some appreciable foundational progress that needed to be sustained to secure greatness for the people and this can only happen with the right leader like Dr Ahmadu Adamu Mu’azu steering the wheels of governance. The popular saying that Rome was not built in one day is a fact and certainly that same Rome is evidently built by Romans. Every country like China, America, Great Britain, Singapore have their moment of rising and that moment wasn’t accidental but a step-by-step approach through deliberate moves by visionary leaders to engineer a new world where opportunities and potentials abound for the citizens to prosper and create wealth for themselves and the nation. This is to say that for every tale of modern Singapore, there is a figure to it –Lee Kuan Yew. Who says that Nigeria cannot have our own version of Lee in Dr. Mu’azu to deliver the revolution in terms of developing Nigeria? If it took a Singaporean to develop Singapore, Chinese to develop China, Americans to build America, then only Nigerians can truly build a strong nation for everyone to be proud of. In recent times, one of the most competent leaders there is remains Dr Mu’azu; a meticulous Ahmadu Bello-educated Quantity Surveyor whose pragmatic approach to governance laid a solid foundation for the development of Bauchi state. Dr Mu’azu is a visionary and a strong-willed leader who gets things done in a manner that gladdens the heart of the people. This is evident in the massive human-capital investment that took many women and youths out of poverty in Bauchi state under his administration. Under his leadership, Bauchi state metamorphosed into a business hub where opportunities for citizens to impact on their livelihoods were prioritized. This is the kind of leader we need in Nigeria going forward. For those seeking the rise of Nigeria in 2023, we have the solution in Dr Mu’azu who can answer the questions on the contemporary narratives in the governance of a country like ours. His political prowess in reforming a state like Bauchi while also delivering on his several calls to service, and running open-door policy is an asset that the country will need if we are to close the gaps in bad governance and improve on our transparency in the leadership of our dear nation. Dr Ahmadu Adamu Mu’azu would make a spectacular leader looking at his antecedent as a governor in building a strong socio-political structure, security, affordable healthcare and sound education and creating more opportunities for employment of the youths. As the then member of Bauchi state Scholarship Board, Dr Mu’azu, he ensured that many poor youths who couldn’t get the opportunities of educating themselves beyond primary and secondary schools level enjoyed scholarships. Today, many of those youths are now making impact in their communities and beyond. This is one of the potentials of Dr Mu’azu that can be harnessed to better educate our numerous children that are out-of-school and which when achieved will give our children and the youths the platform to impact as well as contribute to the development of the country. Over the past few years, the biographies of several political leaders have been evaluated ahead of 2023 and that of Dr Mu’azu has
shown that he is a leader with vision and determination; these are key to the kind of efficacious leadership that is being sought by Nigerians. One of the very banes of leadership in the country over the years is the dearth of visionary leaders at some point in the leadership chain from the grassroots through to the top. But with a visionary leader like Dr Mu’azu, history will judge right those who would elect him as the next President for the country to consolidate on the present administration’s gains to build a better country that is economically viable and self-sustaining. According to Sheryl Sandberg, the Chief Operating Officer of Facebook, leadership is about making others better as a result of your presence and making sure that impact lasts in your absence.” This has been the case in Bauchi state where Dr Mu’azu left endearing legacies which the people of the state still remember and celebrate. As successful businessman with deep experience in private-public-partnership approach towards creating opportunities for a country like Nigeria with her vast human and natural resources, Dr Mu’azu can build for Nigeria one of the highest GDP per capita in the world with a thriving economic hub that will become the pride of Africa. When opportunities are opened up in Nigeria, youths and women would be empowered to live above poverty and improve their living standard. We yearn for change and it’s time to build on the gains of the present administration through the leadership skills of Dr Mu’azu to initiate and implement massive transformational change in all sectors of governance. Many have referred to Nigeria as a ‘’sleeping giant’’ just as Napoleon once remarked about China but today China has witnessed a transformational change in terms of economic and military power which has marveled the world. Dr Mu’azu also has the capacity to do same being a leader that believes in purposeful and collective change where brilliant and visionary teams would be mounted at various levels of administration to drive the initiative of change for the country. With the pragmatic leadership style embedded in the person of Dr Mu’azu, Nigeria will witness that shift from a developing country to a fast emerging economy with explosive doubledigit growth in domestic product. The political implication of having a leader who can open up the space for investors both local and foreign to make impact is that there would be a lot of employment opportunities to keep our eagerly-anxious and opportunity-hungry youths too busy to engage in crimes and this will in turn improve on our security for other sectors to follow. We have the opportunity of choosing Dr Mu’azu to wake up the sleeping giant called Nigeria, we must rise as Nigerians and strengthen that movement and like the famous Nigerian playwright James Ene Henshaw puts it “This is our chance,” let’s make it count.
20
FRIDAY MARCH 19, 2021 •T H I S D AY
21
T H I S D AY ˾ ͯͷ˜ ͰͮͰͯ
BUSINESSWORLD R A T E S MONEY MARKET OBB OVERNIGHT
A S
A T
REPO 15.33 % 16.33 %
CALL 1-MONTH 3-MONTH
12.50 % 9.50 % 11 %
M A R C H S & P INDEX INDEX LEVEL 1-DAY MONTH-TO-DATE
Group Business Editor Obinna Chima Email obinna.chima@thisdaylive.com 08152447875
5 , 2 0 2 1 564.82 % -0.14 % -041 %
S & P INDEX 1/4 TO DATE -15.73 % YEAR TO DATE -15.73 %
EXCHANGE RATE N379/1US DOLLAR* ̩
Quick Takes
UK Donates RHIB Vessel to NDLEA
MEDIA BRIEFING
L-R: High Commissioner of Tanzania to Nigeria, Dr. Benson Alfred Bana; Special Adviser to Lagos State Government on SDG’s, Mrs. Solape Hammmond; Dean, Lagos Business School, Prof. Chris Ogbechie; President, Lagos Chamber of Commerce and Industry (LCCI), Mrs. Toki Mabogunje; Deputy President, LCCI, Dr. Michael Olawale-Cole; High Commissioner of Kenya to Nigeria, Amb. Wlifred Machage; and Acting Chief Trade Negotiator/DG of Nigerian Office for Trade Negotiations, Mr. Victor Liman, during a virtual conference on the successful Implementation of the AfCFTA, organised by the LCCI in Lagos...recently PHOTO: ETOP UKUTT
Airlines Lament Non-Implementation of FG’s Waiver Policy Chinedu Eze Domestic carriers have expressed dissatisfaction over the Nigeria Customs Service’s (NCS) refusal to implement the federal government’s policy which exempted commercial airlines from paying tariffs on aircraft and spares, as a way to help them recover from the economic impact of the coronavirus pandemic. Last year President Muhammadu Buhari signed executive order authorising the waivers that could save airlines over N60 billion per annum, but the NCS have refused to implement the policy. The Chief Operating Officer of Dana Air, Obi Mbanuzuo, who confirmed
AVIATION this to THISDAY, said despite the new policy, which was celebrated by airlines, Customs collects tariffs from the airlines whenever they import aircraft, engines and other spares. “The Customs issue is a funny one. Government supposedly waived duties on aircraft and spare parts but each time we receive a consignment we are still charged duties. “When we protest, the Customs in Lagos will say, ‘that’s Abuja’s problem’. That we should go and solve our problem in Abuja since it was the same Customs headquarters in Abuja that waived the duties that also
gave them targets to meet. “So we are stuck and still paying till tomorrow. When you have a $2,000 part keeping an aircraft on ground with angry passengers and lost revenue for days, it is easier just to pay the duty and get on with things than continue arguing with Customs officers that feel they are gods,” Mbanuzuo said. THISDAY learnt that airlines pay huge tariffs on imported aircraft and spare parts. This, according to an operator continues to eat into the airlines’ profits. The airlines pay between 10 to 35 per cent of the cost of the spares to Customs. For example, if an airline buys aircraft spare part for $4 mil-
lion it would pay minimum of 10 per cent duties, which is $4,000, about N1, 800,000. Former Chief Executive Officer of Aero Contractors, Captain Ado Sanusi, told THISDAY that the problem is that the federal government would have very good intentions to improve the aviation industry, but when it comes to implementation, the agency that has the responsibility to implement the policy would be foot dragging. He said instead of executing government’s policy on waivers on tariffs for airlines, Customs would be prevaricating and when you report the agency to higher authority the Continued on page 22
FG Urged to Establish National Fleet to Harness $19trn Global Trade Eromosele Abiodun Stakeholders in the Nigerian maritime industry have called on the federal government to reactivate its plans to establish a national fleet so as to take advantage of the global trade valued at $19 trillion They stated this at a oneday symposium themed: “The Establishment of a Nigerian Global Trading Fleet,” organised to mark the 70thbirthday of shipping mogul and Chairman of Starzs Investments Company Limited, Greg Ogbeifun. In his opening address Ogbeifun said maritime transport was a huge opportunity for Nigeria if well harnessed. According to him, “The National Bureau of Statistics (NBS) figures showed that Nigeria’s total merchandise trade (import and export) for
MARITIME 2019 stood at N36.1 billion out of which the maritime transport component accounted for N33.7 billion (97 per cent). In spite of the huge potential, no Nigerian flagged vessel carried cargoes of the nation’s merchandise trade in the last 10 years. “Despite its contribution to Agriculture, energy, manufacturing, and other identified key sectors, the maritime sector is not recognised as a key economic driver, thus missing out on very vital interventions from the government, which other key sectors enjoy. This is contrary to international practice as done by other maritime nations.” He stressed that there was an urgent need to drive the Nigerian maritime sector as a national development
initiative whereby incentives, tax waivers and zero import duties are applied, just as an aviation to investors. “According to United Nations Conference on Trade (UNCTAD) (2018), the value of intra-Africa’s merchandise trade was put at $159.1 billion, which accounts for 16.1 per cent of the world trade. But Nigeria’s contribution to intra African trade merchandise stood at a distant 6.8 per cent, that’s N10.81 billion of the intra Africa trade volume, leaving a huge market gap to be explored. ‘Though 726 ships are registered under Nigerian flag (400 captured by NIMASA), 265 ships owned by Nigerians are carrying foreign flags. This connotes a need for an urgent review of the activities of Nigeria’s registry. “The deadweight of the
Nigerian owned ships with foreign flags was put at 6.485million ton compared to those carrying Nigeria’s flag, which was put at 4.526 million tons. “It proves that the larger vessels owned by Nigerians prefer foreign flags: a cause for concern,” he stated. On her part, Managing Partner, Mfon Usoro &Co. and immediate past Secretary General of the Memorandum of Understanding on Port State Control for West and Central African Region, Mfon Usoro, stressed the need to come up with a deliberate maritime development plan for Nigeria’s fleet to seize a sizable market chunk of Africa’s merchandise trade within the next 10 years. “There is an imperative for government to prioritise ship
The British Deputy High Commission in Lagos, in association with the UK Border Force, Ministry of Defence (MoD) and the National Crime Agency (NCA), have donated a Rigid-Hull Inflatable Boat (RHIB) to the National Drug Law Enforcement Agency (NDLEA). The boat was presented to the NDLEA Chairman, General Mohammad Buba Marwa, by the British Deputy High Commissioner in Lagos, Ben Llewellyn-Jones, in Lagos, recently. The US Consul General, Claire Pierangelo and the Director of Sea Ports, Omolade Faboyede were also in attendance during the handover. TheHighCommissionsaidtheprovisionoftheRHIBwillgreatlyimprove the NDLEA’s already effective capability to patrol and intercept vessels of interest and detect criminality that operates in and around the waterways surrounding Lagos. The deployment of the NDLEA patrol RHIB is expected to deter criminals and reduce maritime crime such as drug smuggling, piracy, robbery and kidnapping. The donation was one element of the UK Border Force’s strategy to develop capacity building activity in Nigeria and an extension of the UK’s long-standing and successful cooperation with the NDLEA in the fight against organised drug crime in Africa. The UK has been working closely with the Nigerian authorities to address the wide range of challenges of illegal criminal activity for many years. In 2020 the UK’s working relationship with the Nigerian authorities led to the seizure of over 30 tonnes of cocaine, codeine and tramadol at Nigerian seaports, and in 2019 approximately 25 tonnes of cocaine seized in the Gulf of Guinea from vessels destined for Nigeria and neighboring West African countries. Speaking at the unveiling event the Head of Mission at the Deputy British High Commission in Lagos Ben Llewelyn-Jones said: “Sadly, we know that Nigeria and specifically Lagos port can be both a destination point and a transit location for illegal goods and the illegal movement of people.”
IATA Travel Pass Records Success
The International Air Transport Association (IATA) has announced the arrival at London’s Heathrow Airport of the first traveler using the IATA Travel Pass app to manage their travel health credentials. “The successful implementation of IATA Travel Pass in this trial with Singapore Airlines passengers demonstrates that technology can securely, conveniently and efficiently help travelers and governments to manage travel health credentials. The significance of this to restarting international aviation cannot be overstated,” said IATA’s Director General and CEO, Alexandre de Juniac. Acting Senior Vice President, Marketing Planning, Singapore Airlines, JoAnnTan said, “Digital health credentials will be essential as borders reopen and travel restrictions get progressively lifted worldwide. “The successful implementation of the IATA Travel Pass reflects Singapore Airlines’ goal of using secure digital solutions to verify health credentials, and support a safe and seamless travel experience for our customers.” Passengers on Singapore Airlines flights from Singapore to London during the trial could use IATA Travel Pass to create a secure digital version of their passport on their mobile device; input their flight details to learn of travel restrictions and requirements and receive verified test results and a confirmation that they meet all travel requirements
Delta Declares Efficiency in Vaccine Delivery
Delta has disclosed that it has been effectively distributing the COVID-19 vaccine on a global scale thanks to its extensive global network and international airline partnerships. The global carrier said it is also using its uniqueVaccineWatchTower to prioritise every shipment booked with the COV special handing code. “We have been shipping vaccines daily throughout the U.S. with 100 percent reliability, and as the global effort accelerates, we have been able to leverage our international network and Pharma expertise to extend our vaccine distribution into numerous international markets,” the Vice President, Delta Cargo, Rob Walpole said. “Our unique Vaccine Watch Tower has been critical in providing our customers peace of mind throughout the shipping process, in what is often a complex logistics chain,” he added. Delta’s broad and nimble global distribution network is enhanced through its close coordination with its airline partners including Air France KLM Martinair Cargo, Virgin Atlantic Cargo, Korean Air Cargo and Aeromexico Cargo – as well as SkyTeam Cargo partners.
“The Nigerian Civil Aviation Authority will continue to ensure compliance to its regulations in the interest of safety and will view any violation(s) seriously” Director General, NCAA,
Capt Musa Nuhu Continued on page 22
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BUSINESSWORLD AIRLINES LAMENT NONIMPLEMENTATION OF FG’S WAIVER POLICY officials would deny such. “Either they pretend that they do not know about it or they would accuse the airlines of not meeting one requirement or the other, just to cover up. “They keep the old policies and use them to milk the airlines and encourage corruption. “The waiver policy is good because it will enable the airlines to survive and that will be good for the country. So if there is any requirement Customs needs, it should make it very clear to the airlines,” Sanusi said. He said what the Customs was doing was counterproductive to the federal government, adding that when government introduced the policy, every stakeholder in the aviation industry was elated and they commended the federal government because it reinvigorated the hope of survival for the airlines.
FG URGED TO ESTABLISH NATIONAL FLEET TO HARNESS $19TRN GLOBAL TRADE ownership under the Nigerian flag, deploying the necessary incentives in order to make Nigeria’s registry attractive and to bring it to international standards. “It is equally important to develop the maritime support industries like technology, innovation, academia, finance, law and vital infrastructure like ports and ports connectivity, as well as cargo handling activities, amongst others,” she said. She called for a holistic government approach, such that ministries of government, departments and planning agencies will collaborate with the maritime sector to integrate it into national policies and programmes. She added that there was a need to institute a mechanism for implementation and monitoring of proposed policies for developments in the maritime transport sector. She said the federal government must ensure the inclusion of maritime development programmes in the planned Vision 2050, having left it out in Vision 2020
Group Business Editor
ÌÓØØË ÒÓ×Ë Capital Market Editor
Goddy Ogene
NEWS
Minister Reiterates Commitment to Food Security James Emejo in Abuja The Minister of State for Agriculture and Rural Development, Hon. Mustapha Baba Shehuri has said that the federal government remains committed to achieving food security. Speaking during a courtesy call on the Governor of Bayelsa State, Senator Douye Diri, at the Government House , Yenegoa, he said agriculture will boost nutrition and food security, increase the local farmers income and create more jobs for Nigerian youths. The minister, who was in the state on a facility tour of agriculture projects, said, President, Muhammadu Buhari was passionate about growing what Nigerians eat and eating what they grow to curb unnecessary importation of food which constitutes a drain on foreign exchange. He said the ministry was fully aware of the peculiar situation which limits agricultural production because the terrains are often flooded, swampy and ecologically disadvantaged to support crop production to the desired commercial level in the state. In a statement, issued by the ministry’s Chief Information Officer, Ezeaja Ikemefuna, Shehuri, however, stressed that if properly harnessed, developed and managed, the terrains could nonetheless, become an asset for rice production as well as other
exotic fruits and vegetables that already abound. He told the governor that, “some cash crops such as oil palm and raffia palm have great potentialities for development in the state, hence the ministry believes that Bayelsa State is not only blessed as an oil producing state but one of the states that can also contribute to the diversification of the economy through agriculture.”
The minister said the diversification agenda of the present administration was one of the cardinal policies aimed at achieving nutrition and food security, reducing poverty rate and creating more jobs for Nigerians. According to him: “There are various interventions and infrastructural supports that the Federal Ministry of Agriculture and Rural Develop-
ment (FMARD) have either completed or are still on-going in the state. “Therefore, I am here to see these projects and appraise the extent to which these projects have been able to complement the efforts of the state government at ensuring that the good people of Bayelsa State, especially the rural communities, have access to quality life.”
He further identified some of the projects fully funded and completed by the ministry to include the mini-water treatment plants in Sagbama, paved road networks and solar street lights in different part of rural communities. Others include project restocking of lakes and water bodies, establishment of fish processing plant as well as live bird market in Yenagoa.
COURTESY VISIT
The Managing Director of the Nigerian Ports Authority (NPA), Hadiza Bala-Usman (left), presenting the agency’s corporate plaque to the Director General, National Environmental Standards and Regulations Enforcement Agency (NESREA), Prof. Aliyu Jauro, who paid her a working visit at the NPA headquarters in Lagos…recently
SIFAX Logistics Expands Haulage Capacity, Acquires New Trucks Eromosele Abiodun SIFAX Logistics Company Limited is set to increase its capacity through the acquisition of 25 new trucks to boost its operations. SIFAX Logistics is one of SIFAX Group’s subsidiaries whose business offerings include haulage, clearing and forwarding, groupage and shipping. In a statement, the General Manager, Haulage, Adewale
Adetayo, said there was need to make the investment in order to improve capacity to meet the expectations of clients that are growing by the day. He said: “Last year, we added 25 trucks to bring the total number in our fleet to 100. Despite this, we still couldn’t meet the increasing demands of our customers. “The new trucks will help the company cope with these everrising orders from customers.
The plan is to take delivery of these new trucks before the end of the first half of the year and take the size of our fleet to 125.” Adetayo, also said the company was working on having its own truck transit park which would help facilitate the e-call up system being championed by the Nigerian Ports Authority. “We will soon be converting our empty container depot at Ijora to a truck transit park which would help the movement of
our trucks in and out of the Apapa and Tin Can Island ports,” he added. Speaking on the company’s 2021 plan, the Managing Director, SIFAX Logistics Company Limited, Paul Linden, said strategies have been developed to improve service offering, increase revenue and achieve better customer service experience for the year. These strategies, he added, included aggressive marketing to both local and international
customers, “as well as improvement of our customer service offering.” Commenting on the company’s performance in 2020, Linden said the impressive returns recorded by the company despite the COVID-19 lockdown and its attendant negative impacts on businesses was due to the ingenuity of its workforce and the creativity deployed by the management to cope with the pandemic.
BATN Foundation Empowers Agric Entrepreneurs Harriet Anibena The British America Tobacco Nigeria Foundation (BATNF) has commenced the second season of its Farmers for the Future (F4F) project, which is aimed at empowering young agric entrepreneurs in Nigeria. The company, in a statement, said the scheme provides a great opportunity for young and enthusiastic farmers with viable agri-business models that are in need of equity-free
capital to access grants for their enterprises. It also provides associated support required for the scaling of their businesses. It added that the F4F Grant 2021 is targeted at serving National Youth Service Corps (NYSC) members, aged 18 years and above, “and is part of BATNF’s drive to encourage and support young Nigerians in sustainable agriculture.” The initiative, it stressed, was developed and sponsored by
the British American Tobacco Nigeria Foundation (BATNF) in partnership with NYSC and implemented by SAED Connect. “To qualify for the F4F Grant 2021, the applicant must be a young Nigerian with a viable agri-business model, must demonstrate strong passion for agriculture, and may be currently serving in the National Youth Service Corps. “BATNF is making a financial commitment of N16
million in cash and business support for the 2021 grants. This includes the award of N3 million as first cash prize; N2 million as second cash prize, and N1 million as third cash prize,” the statement explained. Other benefits that will accrue to the winners include technical support to establish their agribusiness; participation in an intensive, “Think-through-your-business” boot camp; mentorship under seasoned entrepreneurs and
agriculture experts; and opportunities for follow-on financing/or credit facilities from financial institutions and investors, “it stated. It added: “Winners will also enjoy membership of the F4F alumni network, participation in other partner-driven training programmes and support with business registration as well as other legal and regulatory requirements.” Application for the grant ended on March 12.
Comms/e-Business Editor
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Adegbite Emerges PTI’s Director of Engineering Sylvester Idowu in Warri Dr. Michael Adegbite has been promoted to the position of Director of Engineering (DoE) at the Petroleum Training Institute (PTI ), Effurun with effect from January 1, 2021. According to a statement
signed by signed by the Deputy Director, Public Affairs, Mr. Brown Ukanefimoni, made available to THISDAY, the Institute’s Governing Council ratified the promotion at its 142nd meeting held in Abuja, recently. Prior to his promotion,
Adegbite was the Head, Quality Management System (QMS). Adegbite joined the PTI on March 2, 1989, as then lecturer in the Department of Welding Engineering and Offshore Technology. He holds a Bachelor’s degree
(B.Sc.) in Metallurgical and Materials Engineering from the now Obafemi Awolowo University, Ile-Ife, in 1987, two Masters of Science (M.Sc.) in Welding and Adhesive Bonding of Engineering Materials, and Offshore and Ocean Technology (Offshore Material
option) from Brunel University, Uxbridge, London, United Kingdom, and Cranfield University, Cranfield, United Kingdom, in 1993 and 2003 respectively. He also holds a doctorate degree (Ph.D) from Cranfield University, United Kingdom in 2014.
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Civilising Effect of MMA2 in Nigeria Kamal Ololade Ahmed
As I entered MMA2, the airport owned and managed by Bi-Courtney Aviation Services Limited (BASL), I began praying for the company and its promoter. I wished I had his phone number; I wanted to thank him for his efforts in elevating the standard of airport operation in Nigeria and showing that Nigerians also deserve good things. Even though I do not have Dr. Wale Babalakin’s phone number, I look forward to meeting him someday to congratulate him for the civilising effect he has had on Nigeria. Too many things fascinated me on that day. First, I saw the seamless compliance with COVID-19 protocols including the measuring of temperature and the sanitising of hands. My bags were also disinfected. It was done without any hassles. I have been to other airports where these protocols are either not obeyed at all or only applied sparingly. You could also avoid them if you were a very important person. Then I came into a hall that was large enough to accommodate all the passengers seeking to board and check-in for their flights. It was so comfortable and I immediately started comparing it to my experience in other airports in Nigeria including the international airports. I also observed that a new set of air conditioners were being installed to enhance the cooling in the facility. It has no competitor, yet it is further being enhanced by the owners. I went up the escalator effortlessly. When these escalators were being installed in 2006, I was one of those who laughed at the operator. I was sure it was going to break down permanently as similar facilities in other airports had broken down so soon after they had been installed. I am used to the irregular behaviour of the escalators in other airports. I wondered how the expatriates coming to Nigeria feel when they arrive at the Murtala Mohammed International Airport. I always pray quietly
in my heart that they would have cause to fly out through MMA2 and come to the realization that Nigeria is not an irredeemable case. Nigerians can actually provide world class infrastructure I earnestly hope that MMA2 will soon commence international flights and change the widely held perception that Nigeria or Nigerians cannot run a proper facility. It is now 14 years and these escalators are still working. A large number of us went up the escalator and came into the check-in point as if we were in Europe or the United States of America. At the check-in court, I expected some bottlenecks. I was surprised to see that the check-in procedure was electronically handled. If you had your boarding pass, you only had to swipe it and you are checked-in. Again, as a regular traveler, I remember when it was commissioned around 2015 by the then Minister of Aviation, Mr. Osita Chidoka, I laughed because I assumed it was going to break down shortly after. It is now over 10 years and it is still working. I am sure Mr. Osita Chidoka looks back with joy that he participated in the commissioning of such an enduring airport infrastructure. We went through the final screening position. I also noticed that BASL was installing new X-ray machines at the check-in points. My curious mind made me ask one of the officials why this was happening. He explained that the owners of MMA2 are very particular about security. They had acquired new X-ray machines to replace the ones that were beginning to reflect wear and tear and also enhance the quality of screening at the airport. These Xray machines, I gathered from the social media had cost BASL about $500,000.00 (five hundred thousand Dollars). This is clear evidence of the commitment of the promoters of MMA2 to securing our nation. BASL bowled me over completely when we entered the departure lounge. Over 500 of us were sitting
down in the general lounge in comfort waiting to board our flights. I could not believe the ambience. The shops were available for airport shopping and they were well maintained. All of the shops were very clean. The eateries were also organized without hassle. This was the common lounge. It was better than the executive lounges in other airports. They also had executive lounges meant for those who wanted a lot of privacy. There you are treated like very important persons (VIPs). I pondered if this was Nigeria. I prayed very hard for the continued success of BASL hoping that as they have been trailblazers, God will grant them the courage to continue to lead from the front. As I entered the flight in comfort, I began to wonder what type of country we were in. How could a private company create such an edifice and yet does not enjoy the full support of government? Why can’t the Federal Airport Authority of Nigerian (FAAN), with all the resources of the government and its internally generated revenue (IGR), create a terminal of this status?! Why must the government continue to insist on running the nation’s airports so inefficiently and inflicting pain on Nigerians when there is an alternative of handing over these airports to BASL?! I began to wonder what the LagosIbadan Road would have looked like under Bi-Courtney Highway Services. This project was terminated in 2012. Nine years after, government is still constructing a 100-kilometer road. I am sure that the finished product under BiCourtney Highway Services would have looked like MMA2. Nigeria would have been further civilized. I respectfully appeal to BASL and Dr. Wale Babalakin to please keep the flag flying. May the Almighty God keep giving BASL and Dr. Wale Babalakin the strength to continue believing that one day our nation, Nigeria, will wake up to reality. -Ahmed wrote from Kaduna
Protecting Airport Facilities
Air Traffic Controller on the Consul Chinedu Eze One of the major challenges faced in air transport in Nigeria is the vandalism of airport and navigational facilities. The Managing Director of the Nigerian Airspace Management Agency (NAMA), Captain Fola Akinkuotu, brought this to the fore during the oversight visit of the Senate Committee on Aviation in Lagos recently. Akinkuotu decried the continuous vandalism of its assets across stations by vandals, saying such dastardly act endangers air safety in the country. He said that some of its communication gadgets were getting archaic and needed replacement. Akinkuotu explained that NAMA had invested in navigational aids in recent times, but lamented that some of the assets were regularly vandalised by hoodlums and called for improved security for its assets at airports and stations across the country. He regretted that the country never foresaw the current security challenges in some parts of the country and mentioned Iju area of Lagos as one of the places were its equipment had been vandalised. The NAMA boss also explained that the federal government had given an approval for the installation of three Category III Instrument Landing Systems (ILSs) at Kano, Port Harcourt and Katsina Airports, saying that this would further enhance the coverage of the country’s airspace. “There is the need to protect NAMA assets at all stations, including Iju area of Lagos. I would have loved to take you (the committee) there, but for lack of time at this moment. The fact is, we never foresaw the current situation in the country. Some of our facilities have been vandalised in some stations. We need your support to further upgrade our facilities especially our communication gadgets, which are archaic,” he said. THISDAY learnt that some of NAMA’s navigational aids are located in areas that are currently facing security challenges in the country and it is expected that the federal government should assist the agency in protecting these facilities.
Akinkuotu decried the continuous vandalism of its assets across stations by vandals, saying such dastardly act endangers air safety in the country
To have total radar and communication coverage of the nation’s airspace, navigational facilities are located even in states that do not have airports so that the whole airspace would be effectively covered. The Federal Airports Authority of Nigeria (FAAN) also faces similar challenge. The Managing Director of the agency, Captain Rabiu Hamisu Yadudu, stated during the visit that the agency inherited outmoded facilities and spent huge resources rehabilitating them in addition to the fact that vandals destroy facilities like perimeter and security fencing, thereby making some airports porous. This, he said, had given rise to security breaches. Reacting to these revelations, the Chairman, Senate Committee on Aviation, Senator Smart Adeyemi, said he was aware of such vandalism. “You have said a lot of things that bother on safety, you talked about communication, navigation and surveillance, which also deals with safety and that is the major issue in the aviation industry. Once people are sure of their safety, they would fly. Where people panic anytime they fly, they would not want to fly subsequently. So safety is very key and it is the live wire of aviation. So for us it is very important. “We are very much aware of the agency Bills. We have finished the public hearing; we are now articulating the Bill together. Some of what we have said here are going to guide us to ensure that we have a Bill that would stand the test of time, that would improve efficiency and enhance security and the well-being of the workers,” Adeyemi said. He noted that in all the agencies the members of the committee visited; he kept talking about the well being of the workers because aviation is a very important sector of the nation’s economy. “Aviation is the bedrock of any nation today. And if the workers are not happy to do their job, then there is no security. Security in aviation industry must not just be in the provision of facilities, equipment that are required. Security in aviation must start with the welfare of the workers, that’s my submission because a man who is hungry, who is frustrated and he is on top there in the Control Tower, what do you expect him to do? So for me, I want us to look at how we can help the industry to enhance the well being of workers so that everybody would have a future in his career. I think that is fundamental. If there is the need for us to review some of the contents of the Bill, we are still open for communication so that people can be happy they are working in this industry,” he said. Adeyemi commended the achievements recorded by the agencies, especially during the COVID-19 lockdown. He noted: “Quite a number of aviation workers were still going to work to enable us to have the vaccine, the cargoes that are coming in. At a time for people to open their window is a problem, not to talk of people sticking their neck and coming to work.”
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BUSINESSWORLD
ANALYSIS
Identifying Causes of Flight Delays, Cancellations Air travellers have continued to complain about the increase in flight delays. Chinedu Eze spoke to industry experts who identified the causes and possible solutions to these challenges
W
hen the airports reopened in July last year, for domestic flight operations after the coronavirus lockdown, airlines and industry workers were skeptical and believed that travellers would shun the airports. Contrary to that expectation, there was growing passenger traffic that within few weeks the airports returned to their hustle and bustle. The airlines began to face another kind of challenge: limited seat supply. After the lockdown the roads became increasingly unsafe so Nigerians who could afford it chose to travel by air. That explained the passenger surge at the airports weeks after the resumption of flights. Business that suffered many weeks of lethargy after the lift of the lockdown began to pick up, just as government agencies reopened for business. All these ratcheted up economic activities all over the country with interlude of slowdown during the #endSARS crisis. During the lockdown, airlines placed their aircraft on storage and continued to maintain them, hoping for resumption of flights. During that time also, there were aircraft that were due for mandatory checks but could not be ferried out of the country to maintenance facilities overseas. Some aircraft had already left the country for maintenance but could not come back during the lockdown. Almost all Maintenance, Repair and Overhaul (MRO) facilities were also on lockdown so the aircraft on maintenance were left unattended, as the engineers went home to wait out the COVID-19 menace with their families. Inadequate Aircraft By the time flight operations resumed, some airlines did not have enough aircraft because those taken out for checks were yet to return and some of those taken out of storage that resumed flight service were now due for mandatory checks. THISDAY learnt that it was the dilemma Air Peace faced and is still facing. Many of its aircraft were taken out for maintenance and are yet to return, having passed the projected dates of delivery. This has affected the operations of the airline, as it had to reduce the number of routes it flies and also the frequency. Spokesman of the airline, Stanley Olisa told THISDAY that the airline was awaiting many of its aircraft taken out for maintenance to return, just as the new ones, Embraer E195E-2 are being delivered. According to him, as the aircraft return, the airline would return to its old flight schedules. He also explained that in the past, Air Peace used to keep one or two aircraft on standby in case of the aircraft in operation develops technical problem and has to be grounded. The ones on standby would be deployed to continue servicing the scheduled routes. But such is now a luxury because the airline and others don’t have enough equipment to meet passenger demand. So when aircraft goes on AOG (aircraft on ground) it causes delay because each aircraft has been scheduled to service given destinations. But Olisa stressed that the situation is temporary and would soon be a thing of the past. The lockdown might have affected the delivery of the airline’s new planes. Three of the new planes were scheduled to arrive the country on March 17, in June and July to normalise its operations. THISDAY also learnt that beside the unfortunate pandemic, the constraint of getting forex to meet timely payment obligations is also a huge factor militating against smooth operations of domestic airlines. Writing on the impact of Coronavirus pandemic and projection of the aviation industry in Nigeria for 2021-26, online aviation magazine, Mordor Intelligence, noted that Nigerian airlines are facing difficulty in maintenance of their aircraft overseas due to delays in the maintenance facility and the challenge of raising funds to pay for the service of these aircraft in forex scarcity. Managing Director, 7 Star Global Aircraft
Passengers checking in for flights Maintenance Hangar and former President of the National Association of Aircraft Pilots and Engineers (NAAPE), Isaac Balami, told THISDAY that once an airline ferries its aircraft overseas for maintenance, it would not know exactly when it would return. This reality was exacerbated by the COVID-19 challenges as companies battle to return to normal with full personnel output. THISDAY learnt that many aircraft taken to MRO facilities are still there awaiting checks because Covid-19 lockdown affected the work schedule of those facilities. Balami said other factors that could retard the return of aircraft from maintenance was forex scarcity. “You cannot say the number of days or weeks the aircraft will stay in the maintenance facility; you keep the crew in hotel, pay them allowances, provide feeding and many other issues. “So we are calling on government to look inwards and see how it will help the industry to grow. Things are tough and we have done our best, thinking that government will look our way to give us some support so that we have a good maintenance facility locally,” he said.
delay to the passenger. “Most of the delays are technical matter, operational issues that are beyond the airline, like the infrastructure at the airport, which may hamper the processing of passenger, but how the airline communicates this to the passenger is important. “In Nigeria passengers are very, very angry but when they travel overseas and there is similar delays or even cancelation of flights they do not get so angry and overreact. “But we have to also look at the operational environment. If the passengers are in air-conditioned environment, that is serene and conducive, the passenger may not be so angry. “Also, if when an airline cancels a flight and you take that airline’s ticket to another airline and get it endorsed and travel with the same ticket, passengers will not be angry. “But the reality in Nigeria is that passengers buy their tickets late so they buy them at high cost and then you cancel the flight and it is not that he will get his money back immediately. “It will take time before he gets it back so he becomes frustrated and angry,” Sanusi said. He agreed that interlining among Nigerian carriers would help the passengers.
Apprehension Travel expert and organiser of Akwaba African Travel Market, Ikechi Uko told THISDAY that the Nigerian passenger has been pushed to be cynical to any official communication emanating from the airlines due to the many years of flight delays and cancellation. They come to the airport apprehensive. “When you try to explain to the passenger, he may not believe you. He has become skeptical over the past 15 years. The Nigerian passenger has been beaten black and blue, so he has lost the goodwill of giving airlines the benefit of the doubt. It is a difficult situation for the passenger,” he said. But the former CEO of Aero Contractors, Captain Ado Sanusi told THISDAY that no airline would like to delay flights because what airlines sell are speed and safety. He said that some delays are 100 per cent beyond the airlines’ control, but how the airlines handle such matters is another thing and this includes how the airline communicates the
Why Airlines Delay Flights The Managing Director, Flight and Logistics Solutions, Amos Akpan, identified reasons why airlines delay flights. These include weather, Notice to Air Men (NOTAM), unavailability of aviation fuel, unserviceable aircraft, computersied scheduling and daylight airports. He said there could develop severe bad weather conditions that would make the aeronautical authority like the Nigerian Airspace Management Agency (NAMA) to shut a particular airport, airfield, or airspace (usually a defined geographic area). In this case all operators would be so advised by NOTAM. He said sometimes the fuel companies are unable to supply fuel to operators on time due to logistics hiccups. “This can happen at departing/flight originating station or transit station. This will delay the flight causing shifts in its scheduled time. The solution to this issue is proactive preparations by the flight dispatchers; this involves intelligence gathering from all inputs
Almost all Maintenance, Repair and Overhaul (MRO) facilities were also on lockdown so the aircraft on maintenance were left unattended, as the engineers went home to wait out the COVID-19 menace with their families
hours before the flight check-in commences so that you can activate alternate procedures as contained in the airlines operational specifications,” he explained. Akpan noted that many times aircraft could develop faults that were not considered in the planning. “If that fault is in the list of items the manufacturers has stated as “no go item”. That aircraft will stay on ground until that fault is rectified,” he said. On the computerised scheduling, Akpan explained, “This is a set up to fail in Nigeria. Let us illustrate with presidential movements. If you operate a Lagos - Abuja - Lagos morning flight, your estimate is to depart Lagos by 7am and arrive back in Lagos by 10am. “This means you can reschedule same aircraft for an 11:30am departure from Lagos. The oddity here is that aircraft may still be on ground Abuja at 11:30am if there is a presidential movement. “Our government closes the station’s airspace usually two hours before the president departs and one hour after the president departs. Other countries have what is called the “blue corridor” in their airspace where presidential and special flights are directed through. “The solution for the airline is to have standby aircraft to take 11:30am flight; you reroute the aircraft that was delayed in Abuja. This means you don’t delay the planned 11:30am flight. “If you have four aircraft, the recommendation is to have a full scheduled utilisation of three and a quarter aircraft. This way you minimise the chances of confusion, delay, and cancellation when one aircraft is out. “The matrix that computerised scheduling produces is a recipe for confusion and prolonged delays in Nigerian domestic flight operations because the operations personnel only start to replan after the damage has been done.” Akpan explained that this applies to airports that aircraft takeoff and landing is restricted to daytime: 6am to 6pm. “This is the consequence of lack of night operations facilities in the airport. No runway lights and other support/safety services are uncertified or unavailable for night flight operations. “For safety reasons, airline operators must schedule their flights within the time given. When an aircraft is withdrawn from service without notice, the airline tries to operate flights to daylight airports first so as to meet the 6:00 pm closure. This brings us back to planning your aircraft utilisation, taking the environment into consideration,” Akpan said. The airlines told THISDAY that in the coming weeks some aircraft ferried out of the country for maintenance would return to resume operations, while Air Peace would have delivered four brand new aircraft by July 2021.
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Lagos Commends CSRF on LIRS Urges Taxpayers to Voluntarily File 2021 Returns Community Development Projects The Lagos State Internal Revenue Service (LIRS) has enjoined all taxable persons, including self-employed, employees, professionals in Lagos State to file their individual annual tax returns for the 2021 Year of Assessment in accordance with the provisions of Section 41 of the Personal Income Tax Act LFN 2004 as amended. A statement explained that individual tax returns are to be filed in accordance with the provisions of the tax law, section 41 (1) (3). The legislations states that: “For each year of Assessment, a taxable person shall without notice or demand file a return of income in the prescribed form containing the required information with the tax authority of the State in which the taxable person is deemed
to be a resident together with a true and correct statement in writing containing. “A taxable person shall file with the relevant tax authority the returns as stipulated in this section within 90 days from the commencement of every year of Assessment (31st March).” According to The Executive Chairman, LIRS, Mr. Ayodele Subair, “the statutory deadline to file Individual Tax Return is March 31, 2021 and is just two weeks away. Therefore, I urge all taxable residents in Lagos State to comply with the tax laws and file on time, to avoid penalties and interests which may accrue against defaulters.” Given the safety protocols in Lagos State necessitated by the Covid-19 pandemic, LIRS charged all individual taxpay-
ers residing in Lagos State to prepare and submit their Personal income tax returns via the electronic filing system module of the eTax platform, introduced to make the filing process seamless and timely. “All relevant tax forms for the purpose of income tax returns can be downloaded from and submitted through the agency’s digital platform: https://etax.lirs.net. Taxpayers experiencing difficulties with the eTax platform may contact the specially designated officers at our tax stations or call our customer contact centre. “The LIRS wishes to remind residents and businesses to continue to adhere to all covid-19 guidelines as stipulated by the relevant health authorities and the Lagos State government,” it added.
Rack Centre Achieves ISO Certification Rack Centre, West Africa’s Tier III Constructed Facility Certified carrier neutral data centre, has achieved the ISO 9001:2015 Quality Management System, QMS certification ensuring its commitment to the highest levels of governance and quality management in its delivery of quality data centre
colocation services. Following an extensive internal and external audit of its systems and processes, the certification was issued by the British Standards Institution (BSI), the worldwide renowned management systems certification body. The ISO 9001:2015 Quality Management System (QMS)
certification is developed and published by the International organisation for Standardisation (ISO), a worldwide standard for creating, implementing, and maintaining a company’s quality management system with a customer focused approach for delivering products and services.
The Lagos State Government has commended Custodian Social Responsibility Foundation (CSRF), an arm of Custodian Investment Plc, for embarking on community development projects, including roads rehabilitation, around its base of operations in Yaba. Governor Babatunde Sanwo-Olu, who gave the commendation recently at the official hand over of the completed project to the state government in Lagos, explained that the state government is deliberately focused on infrastructure development and innovation in its quest to achieve the transportation and traffic management pillar in its THEMES Agenda. “Lagos State, like all other states in the country, also has infrastructure funding challenges. There is no gainsaying that the government alone cannot provide funds for the entire infrastructure needs of the state. “Therefore, the only available option available to the government is to be creative and to look for ways to provide extra budgetary funding for the maintenance of roads,” the governor said. According to a statement, the governor, who was represented by the Special Adviser on Works and Infrastructure, Engr. Aramide Adeyoye, noted that it was in this light that the project proposal by Messrs Custodian Social Responsibility Foundation was approved for
execution. “This completed strategic link road project, situated in Yaba LCDA, which was approved last December under a Public Infrastructure Improvement Partnership (PIIP) Programme is 149m in length with an average width of 7.5m. “The scope of the project includes scarification to a depth of 500mm. It has a build back up with 200mm sharp sand, 150mm crushed stone base and 50mm sand bed, complete with semi rigid 80mm thick interlocking pavement. It also has drains and streetlights components. “Through the delivery of this project, we have been able to demonstrate the linkage of road infrastructure delivery to employment generation, and perhaps, as a component of Corporate Social Responsibility (CSR). We hope this will encourage further private sector participation in our developmental strides,” Sanwo-Olu said. “It is on this note that I want to appreciate Custodian Investment for its collaborative efforts in the delivery of this project, which will no doubt reduce travel time, save man-hours that would have been otherwise lost to traffic, provide better riding surface, boost interconnectivity and generally make life more meaningful to commuters,” he added. He said the partnership
between Custodian Investment and the state government has once again reinforced the importance of the PublicPrivate Partnership (PPP) as a model for delivering public infrastructure. He enjoined other players in the organised private sector to partner with the state government in the maintenance and rehabilitation of existing infrastructure so that the government can concentrate more on the provision of new road Infrastructure to open up other areas of the state. The governor also urged the people of Yaba LCDA and its environs to jealously guard the infrastructure that has been inaugurated and those that will be provided in the near future. He noted that even though the rehabilitation was sponsored by Messrs Custodian Social Responsibility Foundation, the road remains a public infrastructure owned by all. Therefore, protecting the infrastructure will further encourage the sponsors, other corporate organisations and the government to do more, he said. Also speaking, the Chief Executive Officer of CSRF, Mrs. Olubunmi Aderemi, said the foundation supports four pillars, including Education, Health, Sustainability and Community Development. He added that the reconstruction of Chapel Street is not their first initiative in the community.
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Regulations for Offshore Drilling Operations Abayomi Jewesimi
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he oil and gas industry in Nigeria has always tried to meet the challenges of providing environmental protection. Admittedly, the exploitation of oil and gas reserves has not been without some ecological side effects including oil spills, and air and water pollution. Drilling fluids and drill cuttings are the largest waste streams generated in global drilling operations. Regulations ensure minimal damage is done to the environment and protect marine life offshore. These protections are not limited to Nigeria; most oil and gas countries have similar legislation and regulations to protect the environment. There are also regional legislations like OSPAR, Helsinki, Barcelona and Kuwait, and international groups such as the International Finance Corporation and the World Bank Group also has the Environmental, Health & Safety Guidelines for Offshore Oil & Gas Development. All these are efforts aimed at protecting the environment along with workers health and safety. The Department of Petroleum Resources (DPR) is the regulator of the oil and gas industry in Nigeria. The Environmental Guidelines and Standards for the Petroleum Industry in Nigeria (EGASPIN) outlines environmental and safety standards that must be complied with by oil operators. The DPR evaluates and monitors the discharges into the environment from exploration, production, terminal operations, hydrocarbon processing, oil transportation, and marketing operations. Since 1991, the EGASPIN has been updated and revised to be at par with international best practices and advancements in drilling waste management technology, including zero discharge for inland and offshore shallow waters. This includes water less than 12 nautical miles distance from shoreline and in water depth of less than 200 feet. In these zero-discharge zones, discharge is prohibited of whole and spent drilling fluid, drill cuttings, deck drainage, and well treatment waste. Discharges are permitted where the distance from shoreline is greater than 12 nautical miles or the water depth greater than 200 feet under certain conditions. Water-based drilling fluids and cuttings discharge is allowed if the fluid and cuttings pass the sheen test and discharge is approved by DPR. For synthetic-based drilling fluid cuttings, the oil on cuttings (OOC) must be treated to less than 5 per cent before discharge. Low toxic, mineraloil-based cuttings may be discharged if treated to less than 1 per cent OOC. How Nigeria compares with Africa Some of the newer oil producing countries in West Africa do not have regulations. In those countries, operator discretion and corporate global standards drive the present practices. Ghana – Environmental Protection Agency (EPA) is Ghana’s regulatory authority. Offshore Oil & Gas Development in Ghana Guidelines for Environmental Assessment and Management, issued in 2012, outlines the regulation for the country. Non-aqueous drilling fluid cuttings shall not be discharged to sea in water depths less than 500 m. Group III non-aqueous drilling fluid with polycyclic aromatic hydrocarbons (PAHs) level than 0.001% and total aromatic content less than 0.5 per cent is preferred for use at water depth beyond 500m. The discharge limit is 2 per cent oil on cuttings. Group II non-aqueous drilling fluid discharge limit is 1 per cent oil on cuttings at water depths beyond 500m. Group I non-aqueous drilling fluid is prohibited in regulated areas. Cameroon, Equatorial Guinea, Ivory Coast, Liberia, Benin, Togo, Senegal, Mauritania, Mozambique, Tanzania & Namibia have no set or clear environmental regulations for oilfield discharge. Operator discretion drives the present practices, which is stipulated in their Environmental Impact Assessment. Congo & Gabon: Currently no set or clear Environmental Regulations; operators
Oil worker
Jewesimi discretion drives the present practice. Both countries are currently looking at going towards 1% maximum OOC. Angola: The discharge regulation is contained in Executive Decree No. 224/12 of July 2012. Drill cuttings contaminated with non-aqueous drilling fluids, and produced sand from operations in offshore zones are prohibited from being discharged offshore. Countries with operations in the North Sea, Norway, Black Sea & Mediterranean have a discharge limit of 1 per cent OOC (OSPAR ). Gulf of Mexico – In US Gulf of Mexico waters, the Environmental Protection Agency (USEPA) discharge limit is 6.9% OOC for synthetic-based drilling fluid. Zero discharge is the restriction for operations less than 3 miles from shore. For Mexico, ASEA & AMEXHI are the regulatory agencies. The Mexico discharge limit in deep water was zero discharge, however, they have recently adopted some part of USEPA regulation allowing 6.9% OOC discharge limit on case-by-case basis. A seabed study is a requirement for the 6.9% OOC limitation. In the Caribbean, Trinidad & Tobago – the discharge regulation is 5% OOC, while Guyana & Suriname have no regulation and rely on the operator’s discretion. Brazil has the IBAMA regulation which ranges from zero discharge to 5.9% OOC depending on the field.In Asia, Myanmar – the rule is zero discharge for non-aqueous drilling fluids and cuttings, however, operators are currently being given waivers and allowed to discharge with limit of 6.9% OOC. For Thailand & Malaysia, the discharge limit is 5% OOC. Meeting Regulatory Requirements With the introduction of non-aqueous drilling fluids offshore, regulations have become more stringent, prompting the
industry to come up with new technology that enhances the efficiency of solids-removal equipment. The shale shaker, which is the primary solids-control equipment on the rig, has gone through technological improvements going from single-deck shaker to dual, and now triple-deck shakers. The triple-deck shaker maximizes fluid recovery reducing the volume that would have been discharged to the sea, increasing process capacity, and delivering drier cuttings. While OOC results on the single-deck shaker is above 12 per cent, it has been reduced to less than 10 per cent on the triple-deck shakers. Centrifugal cuttings dryers now replace drying shakers. These reduce OOC typically by 50-75 per cent, thus reducing drilling waste volume, recovering premium products for re-use, and ensuring compliance with local regulations. The drying shakers can process up to 60 tons of cuttings per hour. In locations where the discharge limit is 1 per cent OOC, the industry has developed thermo-mechanical cuttings cleaner (TCC Hammermill) which is the best available technology to achieve 1 per cent OOC safely offshore as no open flame exists as it does with other thermal treatment options. This technology converts kinetic energy to thermal energy by creating friction in the waste stream. This creates a temperature higher than the evaporation temperature of the base oil. The thermo-mechanical cuttings cleaner system recovers more that 99 per cent of the synthetic oil for immediate reuse with no significant fractioning or degradation. In areas where regulation calls for zero or near-zero discharge, synthetic-based drilling fluid and cuttings contaminated with synthetic-based fluid will be contained in cuttings boxes (skips) and shipped to shore for treatment and disposal. Traditionally cuttings are fed into cuttings boxes via augers. The cuttings boxes are lifted by crane to the boat for transportation to shore. This process has a lot of safety, environmental, operational, and logistics concerns. The new solution is the pneumatic cuttings-transfer system for containing, buffer storage, and transporting drill cuttings and mud within an enclosed system. This prevents exposure of personnel and the environment to contaminated wastes. This system is safer than traditional skip-and-ship method with auger as crane lifts are minimized, improving offshore safety. One of the safest and widely approved disposal methods for cuttings disposal offshore (shallow water) and onshore is cuttings re-injection. This is mechanical degradation of drill cuttings to an appropriate size to form a slurry suitable for re-injection. Water-based and syntheticbased drill cuttings, spent fluids, slop and
drain water, produced water and solids, production sludge, and naturally occurring radioactive material (NORM) can all be re-injected. This process is applicable in a zero-discharge environment; however, no company is currently using this method in Nigeria. Another technology that has helped not only protect the environment but improved the overall safety of personnel is automatic tank cleaning. The traditional method of cleaning mud tanks offshore is manual labor with crews enter confined spaces with high-pressure washing equipment, shovels, and squeegees. Confined-spaceentry fatalities are commonplace. Statistics compiled by the National Institute for Occupational Health and Safety and OSHA – Occupational Safety and Health Administration over the last decade indicates 1 fatality every 4 days on the average. Most of the fatalities are due to oxygen deficit or toxic atmosphere. Nigeria has suffered her own share of fatalities from confined-space entry. To eliminate confined-space entry, tank cleaning machines (TCM) utilizing static or rotatable nozzles are placed inside the tank to jet water or cleaning solutions into the tank walls. These TCM can also direct a high-impact jet (low-pressure, high-flow rate) onto the floor to dislodge sediments from the bottom of the tank. What the Future Hold for Nigeria Future status of drilling discharges includes monitoring with seabed surveys, maintenance of increasingly higher standards, using new and better options for fluids, processing technology, and waste disposal including reinjection of waste, and a continued focus on pollution prevention at all stages of drilling and production. The drilling industry has already made lots of progress with the development of new drilling fluid systems that are more environmentally friendly. Use of dieselbased mud has been stopped offshore and greatly reduced onshore. The industry will continue to engage with regulators and industry stakeholders to create awareness on best practices and develop and implement new technology to move the industry in the direction of greater safety and protection of the environment. -Abayomi Jewesimi is a graduate Electrical Engineer from the University of Lagos. He is global capital sales manager for a leading international oil and gas service company and is currently based in USA. He has over 25 years of experience in international oil and gas. He specializes in operations, business development, sales, and strategy and is actively involved working with clients and regulatory bodies globally on environmental regulations and new technology to meet best environmental practice for the oil and gas industry.
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Ogungbesan: Retail Investors Critical for Market Development The Chief Executive, Stanbic IBTC Stockbrokers, Titi Ogungbesan, in this interview speaks about activities in the Nigerian stock market. Oluchi Chibuzor brings the excerpts:
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he Nigerian Stock Exchange (NSE) posted an unusually strong performance for 2020, closing the year with a 50 per cent gain. This was in spite of the forced economic lockdown due to the coronavirus pandemic, the economic recession, the volatile oil market, massive unemployment, and so on. Such bullish performance was last seen nearly 20 years ago. What will you say was responsible for such a remarkable performance? The major driver was liquidity from investors that were seeking higher yields as returns in the fixed income space remained very low. Estimated dividend yield levels in the 4th quarter were much higher in the equities market than the yields in the fixed income space and this made the market very attractive for investors. We also note that activities were driven predominantly by local investors. The All-Share Index (ASI) gained +50.03 per cent in 2020. The year had started out on a bullish note but around March, it turned due to the double impact of the significant dip in oil prices and the accelerated spread of the coronavirus worldwide. Nigeria, like many other countries, went into lockdown and this affected many businesses and their operations. By the end of the 3rd quarter, the ASI was slightly down and most of the ASI’s final performance was driven by activities in the 4th quarter alone. The NSE’s Brokers’ Performance Report for 2020 showed that Stanbic IBTC Stockbrokers Limited had the best performance by value and one of the top five by volume of transactions. Stanbic IBTC Stockbrokers accounted for about N219 billion or over 10 per cent of traded value. How did you achieve this? Our primary focus as a business remains offering value to our customers and providing excellent services to them. We have a team of highly experienced professionals who are dedicated to delivering excellent services to our clients and our Client Value Proposition remains the core of our business. We would not have been able to achieve this result without the support of our customers. We are also able to leverage on our franchise strength both in-country as part of Stanbic IBTC Group and also as a part of Standard Bank Group. Stanbic IBTC Stockbrokers was also recently awarded Best Brokerage House in Nigeria for 2020 by The European. How do you see the demutualisation affecting the market and particularly your operations? The move by the NSE to pursue demutualisation is one that has been hailed by the broker community as a positive one and the steps that have been taken by the Exchange so far are highly applauded. The announcement of the CEOs is a signal that the Exchange is still committed to the completion of the demutualisation and this is a positive indicator for the market. We believe that this will aid in improving efficiency in the market as well as for brokerage firms. At the maiden edition of Retail Investors’ webinar hosted by the NSE last year, the CEO of the exchange, Mr. Oscar Onyema, said the Exchange is committed to facilitating conversations that will expound on the retail investment opportunities available in the capital market. How important is the retail investment sector to Stanbic IBTC Stockbrokers’ operations? We see the retail segment of the market as critical to the operations of Stanbic IBTC
and this has greatly improved efficiency. For the first time in years, domestic investors, in 2020, consistently outperformed their foreign counterparts in market transactions and participation. For instance, in November 2020, NSE data showed that local investors outperformed foreign investors by over 58 per cent in total transaction value. Going forward, how do you think this level of local interest can be sustained and consolidated? We have seen this trend continue even at the beginning of the year 2021 with higher participation from local investors versus foreign investors. We do not think this momentum will wane. One way in which we can sustain this move is what Stanbic IBTC Stockbrokers have provided via the mobile app which has, in no small measure, facilitated easier trading. Another way is to regularly organise retail workshops that highlight available opportunities and that project Stanbic IBTC as an end-to-end financial services provider. If yields remain low in the fixed income environment and dividend yields remain more attractive, we expect this trend to continue.
Ogungbesan
Stockbrokers and this is becoming more evident as their activities contributed to the performance of the NSE last year. For us, retail customers are a core of our business and in line with this belief, we have invested heavily in technology to make the market more accessible to them. As a testament, we launched our Stanbic IBTC Mobile App last year to facilitate easier access to trade and we continuously seek ways in which we can help that segment achieve their investment goals. We believe that retail investors hold a major key to growing the Nigerian capital market. We have witnessed the government’s strong desire to diversify the economy from over-reliance on the oil sector, as recently captured in the Economic Recovery and Growth Plan. How strongly involved is the market in the diversification drive and what has Stanbic IBTC Stockbrokers’ contribution to its attainment been? In a bid to boost economic growth and achieve its diversification goal, the government has highlighted six priority sectors - agriculture, manufacturing, services, solid minerals, construction and real estate, as well as oil and gas. In line with the fiscal authority’s drive, the monetary authority also continues to support this diversification agenda by providing targeted policies to spur growth in these sectors - particularly in the agriculture sector. In accordance with this drive, the capital market is very involved in the diversification plans of the government. As capital is a major requirement for achieving the set objective of diversification, the market provides an avenue to raise long term capital via equity and debt. Companies that are operating in
these critical alternative sectors to oil are given platforms to raise capital and have brokers lending their expertise to their capital raising plans. One critical factor is the fact that there is ample liquidity in the market now, with asset managers, pension funds and retail clients that are seeking investment outlets. This therefore presents a good opportunity for some of these non-oil sector companies that do require long term funding for capital expenditure, scaling and so on to access the capital market. In recent times, Information and technology companies have been willing to take the dive into the equity market. As a company, Stanbic IBTC Stockbrokers is the number one stockbroking firm in Nigeria in terms of transaction value of over 10 per cent market share; and when it comes to capital raising, we pride ourselves as the best executor in the market. We are able to mine our customer base to raise capital for these companies. The Exchange also organises regular sessions that highlight opportunities in the various sectors and how to partner to achieve the objective. With the inclusion of the stock trading feature in Stanbic IBTC’s all-round Super App, how has leveraging digital technology, innovation and expertise helped to improve efficiencies in your operations? The inclusion of the stock trading feature in Stanbic IBTC’s Mobile App has allowed us to bring the stock market to the fingertips of our clients. We were also able to leverage on the strength of the Group to deliver stockbroking services to the clients of the Group. With the use of the app, clients can place their orders independent of the input of any person
We advise clients to look at companies that have a strong track record of good corporate governance. With good corporate governance, there is a greater chance that the company invested in will deliver on set objectives
What initiatives are you envisioning to institute in 2021 and beyond to help boost the capital market and drive investor interest? As a group, there are plans to partner with other institutions to provide platforms that allow investors achieve their objectives. There are also plans to organise regular webinar series and conferences to cater for all segments of our client base. Our continuous investment in technology and partnership with the Exchange are also crucial to our contribution to growth of the capital market. How will you appraise the capital market’s regulatory environment? The capital market has a very robust regulatory environment. The apex regulator, the Securities and Exchange Commission (SEC) is very proactive and dynamic. The Nigerian Stock Exchange is a forwardlooking Exchange and their approach to regulating the market is a very inclusive one. We have a regulatory environment wherein market participants are encouraged and commended for doing business the right way. For those looking for opportunities to invest in Nigeria now, what should they be looking for and what would be your advice? We advise clients to look at companies that have a strong track record of good corporate governance. With good corporate governance, there is a greater chance that the company invested in will deliver on set objectives. We also advise clients to consider companies that have historically delivered strong returns in terms of Profit Before Tax (PBT) and Profit After Tax (PAT), as well as companies that give decent dividend yield. There are a few of these companies in the banking, consumer and industrial sectors. Stanbic IBTC Stockbrokers is the leading stockbroking firm in Nigeria. What goals are you setting for yourself over the next three to five years? We intend to continue to keep customers at the centre of our business and our aim is to continue to delight our customers with exceptional customer service. We also intend to continue to leverage on technology to make accessing the capital markets easier for our clients and we believe this will help grow the size of the market. We intend to remain the leading stockbroker in Nigeria in terms of service and market share.
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FRIDAY MARCH 19, 2021 •T H I S D AY
THIS WEEKEND WEEKLY MAGAZINE
NEWS METRO THISLIFE ART WEEKEND ENTERTAINMENT Group Features Editor: Chiemelie Ezeobi chiemelie.ezeobi@thisdaylive.com 07010510430
Ifeyinwa Afe: Carving a Niche as a Global Leader
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Ifeyinwa Afe: Carving a Niche as a Global Leader At 31 years of age, IfeyinwaAfe, as HP’s Managing Director of CentralAfrica is the youngest managing director at HP Europe, the Middle East andAfrica. She moved into the post after the company split in 2015 and carved out new high-growth markets in the region.Afe is responsible for a large swath of territory, including Nigeria, Ghana, Liberia, Sierra-Leone,Angola and Libya.As member ofYPO, a global leadership community of more than 30,000 chief executives in 145 countries who are driven by the belief that the world needs better leaders, Afe has carved a niche for herselfwithinandoutsideNigeria.InthisinterviewwithMARY NNAHshetalksaboutherroleinYPOandhowithelpedinshapingtheleader she is today and how she has been able to scale through as a female leader in her field of endeavour
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tant, especially in Africa because we are living through the dawn of a new age. Where the cyber and physical worlds converge in entirely new ways to create amazing new possibilities, and this is exactly what attracted me to this company. I graduated from Igbinedion University with a qualification in Economics and Development Studies. But technology was my passion. I started as an intern, then grew into different positions - learning about the business, until I became the MD of West, Central Africa in 2016. Today I am responsible for a large portfolio in various African regions.
hat is your role at YPO and how has your association with YPO helped in shaping the leader you are today? YPO is the global leadership community of more than 30,000 chief executives in 145 countries who are driven by the belief that the world needs better leaders. Each of our members has achieved significant leadership success at a young age. Combined, they lead businesses and organisations contributing USD 9 trillion in annual revenue. YPO members inspire and support each other through peer learning and exceptional experiences in an inclusive community of open sharing and trust. For more information, visit ypo.org. I am presently an active member of YPO and by being active; I’m involved in various activities that focus around education, healthcare and community development. My association with YPO has not only helped to define my leadership roadmap in terms of what I do and can still do beyond the business, moulding me into a well-rounded individual and leader. Ifeyinwa Afe
Do you learn from other female CEOs? If yes, what lessons and from who? Yes, I surround myself with women who are visionaries and we network and learn from each other - no matter what industry we are in. As women we face similar challenges, such as balancing being a mother, wife, and an executive, being treated equally or trusting your own voice. What is important for us is to unite, share knowledge and build capacity for the next generation of women. Are there any factors that limit women participation in the industry? From a very young age, gender stereotypes such as ‘boys are better at science and maths’ or ‘women have nothing to say about technology’ can discourage girls from studying Science Technology, Engineering and Mathematics (STEM) subjects. But at the rate at which today’s businesses are constantly transforming – think AI, edge, IoT – to remain competitive, there is a massive opportunity for organizations to elevate female leaders in STEM who have strong skills beyond technical competencies to ultimately enable innovation and make the difference between organizations that successfully transform and those that get left behind. How easy is it for a woman to rise to the level you have gotten to? I’m lucky, as I joined HP, a company where diversity and inclusion is part of the corporate DNA. At HP, only talent counts. Women must believe in themselves and support each other. We see great examples of female leaders in Africa. I’m sure we all shall team-up to overcome gender bias. Everything is possible. In your opinion, what can be done to encourage more women to venture into this industry? It all starts from the schooling system where some of the STEM subjects are discussed at primary level. We also need to talk more about women who are successful in this industry, so that young girls can see that it is possible. In Africa particularly, countries should
unite to create a digital single market in which women and girls can generate the opportunities entrepreneurs and investors need to stimulate innovation for the continent. The free trade zone agreement is a fantastic opportunity to boost Africa’s social economic growth. I am looking forward to seeing its positive impact. How can we achieve inclusive growth? More and more organisations shall understand that companies with diverse teams perform better than their peers that lack diversity. Diversity shall be embedded into corporate culture and start from the top. For example, at HP we intentionally created the most diverse board of directors in the U.S. technology industry. Diversity, equity and inclusion are fundamental to HP’s culture. Our founders Bill Hewlett and Dave Packard embraced diversity as part of the HP Way because it drives innovation. Innovation at HP springs from people bringing their whole selves to work, collaborating and contributing their varied perspectives, knowledge, and experiences. Diverse teams create transformative solutions that better serve our customers and advance how the world works and lives. What about a brief background about yourself and your company HP? HP has a long history of innovating to improve lives and transform industries. It was founded in 1939 by Bill Hewlett and Dave Packard in a one car garage, in Palo Alto, California. The first product made by the company was an audio oscillator for Walt Disney, to test audio equipment in the 12 specially equipped theatres showing Fantasia in 1940. The reason for this background is to show how far HP has gone. It was only in 1966 when the company entered the computer market. Today, HP leads the way in a time of great change and challenges. In the past couple of years, we were on a quest to innovate and create. A never-ending drive to reinvent and reimagine what is possible. This mind-set has never been more impor-
What makes HP different from others in the industry? The core of our business is driven by our values. We encourage flexibility, innovation, diversity and inclusion, and teamwork. We are passionate about what technology can bring into our lives. Whether it is technology for work, school, play or to help protect the planet. We foresee social, economic, and ecological megatrends that will spur major innovations to help improve our lives. New products like a hearing aid that takes your temperature, or a desk chair that gives you tips to improve your posture, and new services like driverless delivery and AI-assisted 3D manufacturing, will all soon be a reality. HP will be the leader in cyber-physical systems that will make a difference to society. The information technology landscape is very competitive and capital intensive, how is your company doing? During the pandemic period we have all realized that a PC is essentiala. It keeps us learning, working, entertaining, communicating from any place. HP finished 2020 strong, and we had an exceptional start to the current year. The strength of our portfolio and diversity of our businesses is driving our performance and positioning HP well for the future. I’m very optimistic and confident about HP’s positions in Central Africa. How is COVID-19 impacting your operations and the industry at large? The pandemic has caused a huge demand for PCs. Today people can’t travel, so they must connect virtually. But in the future, when they can travel again, they may not necessarily do so because technology gives them the option of not traveling all the time. During last year many industries have digitalised and went through a process that in our pre-covid lives would have taken years. This is amazing and it’s great how IT can be an enabler - a force for good in facilitating global growth. As a business, do you have policies that support women and do you take gender issues into consideration in your projects? At HP we approach our gender equity advocacy by elevating the voices of women and girls. We partnered UN Women Executive Director, Phumzile Mlambo-Ngcuka and we signed a Memorandum of Understanding (MOU) to expand digital learning opportunities for women and girls in five priority countries: South Africa, Senegal, Nigeria, Democratic Republic of Congo, and Morocco.
This collaboration builds a model of partnership where equipment and entrepreneurial online learning courses are offered in digital classrooms to more than 5,000 women. We also partnered Black Girls Code in 2019 on an Enrichment Workshop series that utilises storytelling, creativity and technology to inspire coding in five and six-year-olds. HP provides students with Rox’s Secret Code storybooks, which will serve as the basis for building and coding their own 3D augmented reality or custom robot. Once the workshop is over, the students will be able to continue the coding adventure via picture books and an app. How challenging is it for you as female boss in this industry? As an African female, I have had to navigate many challenges as a boss in the tech industry. I went through a phase where I was challenged by the fears that I might not be enough as a woman to make the right decisions, like my male counterparts. There were also instances where other people in the industry tried to prevent me from applying for more senior roles because it would affect my family life and my ability to be a good mother. Today, I am a mother, wife, and MD of a multinational technology company in Africa. Every day, I strive to teach other women that there will be many stigmas throughout your career and journey, but one must always go for what they want and never try to please anyone or doubt themselves. What is your source of motivation? My twins! They inspire and motivate me for more. I’m so excited to see the new digital-native generation grow. My twins are almost six years old and when I think of myself at their age, I see how much they already know and what amazing industries they will see in future. At the same time, I understand that we need to do our best to minimise the existing digital divide. Kids shall have equal opportunities and access to IT, no matter where they live and learn. How do you motivate or get the best out of your team? A leader, whether male or female, must know how to carry others with them. Such a leader is followed by people who believe in their project and who need to be stimulated and inspired. I am motivated by the opportunity to uplift and empower young people and women in Africa. But it all starts with improving access to quality education and using technology as an enabler of growth for the continent. I also ensure that everyone in the team feels included. For instance, during our annual reviews, I look at the way in which salary increases or stock options are given and make sure that there are no forgotten people. Likewise, when we have an annual discount, I make sure that there are as many women as men. This battle is not a battle of men against women, it is a battle so that everyone in the team dares to take the light. I’ve always believed in the smaller things and actions, hence you will often hear me say, don’t wait till you’re able to take action in some grand way or approach, do the little things that matter, they add up.
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Kindness Unhindered Partners Girls with Period Initiative to Promote Menstrual Hygiene Stories by Mary Nnah Kindness Unhindered in conjunction with Girls With Period (GWP) Initiative, recently hosted an event which focused on educating female students on menstrual hygiene, menstrual health, self-esteem and the misconceptions of period. Held at the Federal Science and Technical College, Yaba, the event had in attendance female students of the school, founder of Kindness Unhindered, Dr Ralu Onubogu; Actress and member of Board of Trustees for Girls With Period (GWP) Initiative, Mercy JohnsonOkojie; founder of Wild Flower PR & Company and Chairman of Board for Girls With Period (GWP) Initiative, Oma Areh, amongst others. Kindness Unhindered, a non-profit organisation supports positive and life-changing projects that contribute to the growth and development of Africans. It focuses on bringing change to the lives of young Africans through quality empowerment and support. The organisation partnered with Girls With Period (GWP) Initiative to promote menstrual hygiene, self-esteem and also eradicate period poverty. The Girls With Period (GWP)
Stakeholders at the Kindness Unhindered with Girls With Period (GWP) Initiative programme on educating female students on menstrual hygiene held in Lagos recently
Initiative aims to completely eradicate period poverty across Africa by providing and distributing menstrual sanitary kits to women and girls as well as educate them on menstrual hygiene, self-esteem, amongst others. It has been able to impact over 10, 000 women and girls across Africa since its establishment. Onubogu who expressed excitement on being part of the momentous event said that Kindness Unhindered as an organisation focuses on supporting sustainable projects as well as organisations like Girls With Period Initiative, adding that the event was one of the many ways they hope to reach and impact people acrossAfrica for a better tomorrow. Speaking at the event, Ac-
tress and member of Board of Trustees for Girls With Period (GWP) Initiative, Mercy Johnson-Okojie, shared her view on period stigmatisation and also demystified the myths and misconceptions of period. ‘Period is nothing to be ashamed about and it’s very important for boys to be included in period conversations to know more about this natural phenomenon. As women, we need to understand that we should never be ashamed about the things that make us a woman. “That is why this event is important to show every girl child out there that there is nothing to be ashamed about and they are no longer on this journey alone. We are here with them,” the actress said
At the event, students and guests were educated about menstrual hygiene, self-esteem and the misconceptions of period while the Founder, Wild Flower PR & Company and Chairman of Board for Girls With Period (GWP) Initiative, Oma Areh enlightened the students on questions ranging from menstrual hygiene, period misconceptions, self-esteem, amongst others. She also encouraged them to be confident about their period and practice a proper menstrual care. “We need to be hygienic during our periods and practice proper menstrual care. We also need to be confident and comfortable about our period. Period is normal and it’s nothing to be ashamed of. “Every woman and girl deserves a healthy and hygienic period. Through this event and many others, we plan to reach and impact more girls and women across Africa” she noted. Patricia Vin-Okopi, Founder and Project Manager of Girls With Period (GWP) Initiative expressed her delight for the successful event and the impact it made to eliminating period poverty stating “this event means a lot to me and I’m really thankful for the support from Kindness Unhindered.
Awosika, Badejo-Okusanya, Ogunkoya, Eiremiokhae, Others to Receive Industry’s Highest Honour The Executive Vice Chairman of Troyka Holdings, owners of Insight Redefini, Optimum Exposure, Halogen Security, Feyijimi Awosika; Group Managing Director of CMC BCW, Yomi Badejo-Okusanya; Group Managing Director, mediaReach OMD West And Central Africa, Tolu Ogunkoya and Group Managing Director, Oracle Experience, Dr. Felix King Eiremiokhae, have been nominated by the industry stakeholders to win the 2021 Industry Lifetime awards. The honour will be conferred on these deserving integrated marketing communication industry professionals at this year “The Industry Evening Summit’ scheduled to hold on April 2, 2021 at Sheraton Hotel & Towers, Ikeja in Lagos Nigeria. The Industry Evening Summit has become a flagship platform that brings all the marketing and marketing communications professionals across the continent together
Awosika and others for Industry’s highest honour.
annually. According to the chairman of the award committee, Akin Adewakun, the honour for these deserving professionals is overdue, going to be their antecedents in their chosen professions. Awosika, who has distinguished himself in creative advertising, has been a reference point in the industry for both older and younger professionals. His professional career started early at the old Nigerian Broadcasting Corporation where he often worked in the newsroom as a vacation jobber. Upon graduation from the University of Lagos, he
was posted back to NBC for his service year and stayed on full-time for another 18 months as a senior sub-editor working mostly in radio. For Badejo-Okusanya, he is widely known to be one of the premier public relations practitioners in Nigeria with experience in the areas of Government Relations & Legislative Affairs, Perception Management, Marketing, Advertising, Public Relations & Crisis Communications. He has handled Corporate Communication activities, Issues, Advocacy & Crisis briefs, Government and Legislative Relations; and Public Affairs
Management for high profile clients including the JAGAL Group, Airtel Nigeria, International Monetary Fund’s (IMF), British American Tobacco Nigeria, Transcorp, Renaissance Group, Federal Inland Revenue Service, Peugeot Nigeria Ltd, Shell, Virgin Nigeria. Ogunkoya, who is regarded as the pioneer in media buying and selling industry, has led mediaReach OMD to an enviable height in the industry. mediaReach OMD under his watch, has won several accounts from MTN, Airtel, UAC Nigeria, and several other multinational brands. Eiremiokhae, who is regarded as colossus in the experiential marketing industry has significantly distinguished himself by orchestrated several mind-blowing activations such as Gulder Oceanliner club booster, Star Beer Eyoh Statutes, Gulder Create Cave, Peak milk 1 million signature and Maggi first lady activation among others.
INSEAD Appoints Nabila Aguele Member Board of Directors INSEAD, the Business School for the World has announced the appointment of Nabila (Isa-Odidi) Aguele MBA’14J to its Board of Directors. This appointment takes effect from June 18, 2021. Aguele is the youngest person appointed to the board, second African and second woman of African descent appointed. She is also the first Nigerian in the history of INSEAD. As one of the world’s leading and largest graduate business schools, INSEAD brings to-
Nabila Aguele
gether people, cultures and ideas to develop responsible leaders who transform business and society.
Aguele a Nigerian by origin, has called several countries home, including England, Qatar, Saudi Arabia, the US, and Canada. After over a decade in the United States, her passion for Africa and desire to help drive sustainable impact and development on the Continent led her to move back to Nigeria as a Policy Advisor to the Federal Government in 2016. Currently, Aguele is a Special Adviser to Nigeria’s Minister of Finance, Budget, and National Planning. She provides policy and strategy
advice on international development cooperation, and on performance monitoring and evaluation for data-driven policy formulation and implementation. A strongadvocateforwomen’s rights, Nabila is also supporting interventions at the intersection of gender and public financial management. ProfessorIlian Mihov, Dean of INSEAD, said, “I am pleased to welcome Nabila as a new member on our Board. Nabila has been an active member of the INSEAD community since she was an MBA student.
FitnessChallenge: ThreeCrownsUnveils ‘EverybodyisWelcome’Campaign Three Crowns milk has unveiled its ‘30 Days Fitness Challenge’ for 2021, themed, “Everybody is Welcome.’’ The Three Crowns Fitness campaign was established in 2016 to encourage every Nigerian, especially mothers to live Fitness Challenge, Three Crowns‘ healthy lifestyles by cultivating healthy habits. The campaign ‘Everybody is Welcome’ Campaign continues to serve as a platform to help mums and families to keep fit, while emphasising the importance of a healthy lifestyle through nutrition. Speaking on the campaign idea for 2021, the Marketing Manager, Three Crowns, Omolara Banjoko, noted that the theme of this year’s campaign, ‘Everybody is Welcome’ is borne out of the need for inclusivity, which means that this year, the brand is calling on people of every shape, form, size and sex to join the fitness challenge. Everybody is welcome to work out with whatever unconventional and household tools in many exciting ways to keep fit. She said “Three Crowns 30-days fitness challenge runs twice a year. It is designed to highlight the importance of healthy eating habits especially for Nigerian mums who prioritise the overall wellness of themselves and their families. So for 30 days we will engage consumers within the confines of their homes with exciting workout routines to have a healthy heart. The campaign scheduled to hold from February 20 to March 30, will feature daily exercise videos targeted at consumers with different fitness threshold levels like ‘’Newbie (Beginners level), Wannabe (Standard level) and Pro (Advanced level) to exercise. Consumers are urged to register on the brand website Three Crowns Fitness Challenge | Feminine Lounge and join the WhatsApp and Telegram groups to connect with a fitness coach who is available 24/7. The exercise videos will be deployed daily across the brand’s digital platforms and consumers are expected to recreate the same, repost on their social media handles and tag the handle @3crownsmilk, using the campaign hashtag #TC30DaysFitnessChallenge. Similarly, they can also share their videos directly on the WhatsApp and Telegram coaching groups. Throughout the campaign, Saturday sessions will feature cardio dance exercises, which will be streamed real time across the brand’s social media pages. During these sessions, participants will be engaged and rewarded for participating in the weekly mini-workout challenge.
CycologyClubInauguratesAmazonRide Funmi Ogundare As part of activities to commemorate the IWD, Cycology Riding Club launched the ‘Cycology Amazon Ride’, an allfemale cycling group aimed at promoting healthy lifestyle among women, as well as changing the narratives against gender bias and inequality in a male dominated sport. A lawyer and Secretary of the Club, Mrs. Temitope George, told THISDAY that since 2011, through its social impact initiative, it has been providing bicycles for girls in rural areas, as a means of transportation to get to school, rather than working long distances. “One of our objectives is promoting healthy living through cycling and creating social impact, so CSR is what we do as a club. One of our CSR initiative is ‘Ride to School’, where we actually provide bicycles for girls who had to work long distances to get to school in rural areas, “ she said, adding that as a group, the club is out to showcase the women who are already changing the narratives in a man’s world. “A lot of women who came out today, are successful women, industry leaders and senior civil servants changing the narrative, but I feel that a lot more can be done and part of what we are doing today, is to let people who are seeing us, say that if these women can do it, they can do it too.” George said by empowering the girl-child you are empowering the nation as they have the capability to replicate things to achieve what they want. The first female captain of the club, Mrs. Bimpe Olufemi stressed the need for girls to get involved in sports at a young age because mobility is very important. “You must live a healthy lifestyle in terms of the food that you eat or what you are doing. You need to keep fit. We all know that the mortality age for men and women is very low because they lived a sedentary lifestyle for many years. So the sooner we start getting our girls in some sort of sports, the better.” She expressed concern about the patriarchal society we live in saying that with the right type of education, the girl-child should be given equal opportunities like their male counterparts, so that the society can be better for it.
Female members of Cycology Riding Club during the inauguration of Cycology Amozon Ride in Lagos... recently
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MUSIC SHOWBIZ
…Your weekly entertainment delight
NOLLYWOOD
Review: Different Shades of Entrapment in ‘La Femme Anjola’ Stories by Vanessa Obioha After their outing in the 2012 film ‘The Meeting’, the trio of Mildred Okwo, Rita Dominic and Tunde Babalola reunite in a new blockbuster. This time, they showed their mettle in the neo-noir film ‘La Femme Anjola’ released in cinemas today. The film revolves around a stockbroker who fell in love with a mysterious woman. Starring Dominic and Nonso Bassey in leading roles, the film explores the extremities of love and blurs the lines between heroes and villains. Dominic is the titular character Anjola, a woman as sultry and mysterious as her looks. On the surface, she dons a pretty face, but beneath it, is an enigmatic persona that traps the viewer in her world till the last scene. She is married to a wealthy gangster Odera Kalu (Chris Iheuwa) who owns a nightclub,
Dominic and Bassey in ‘La Femme Anjola
Bassment, where she performs with a band. This is Anjola’s world. A place where many fall at her feet. Her co-star Bassey brings a certain kind of vulnerability on the screen that it is hard to box him into a particular
character profile. He is a rich stockbroker and a saxophonist. He has a beautiful girlfriend Thabisa (Mumbi Maina), yet his eyes are set on an irresistible and forbidden woman. Irrespective of the prism you view him from, he is evasive
Spotify Storms Africa with African Heat Campaign To mark its recent presence in some African countries, including Nigeria, the global music streaming service Spotify launched the African Heat campaign which comprises series of partnerships, activations, a dance challenge video (#africanheatchallenge), and more creative content opportunities that will play out through on-and-off-platform initiatives on local, regional, and international levels. Celebrating the power of African voices across the continent and beyond, the campaign features the African Heat playlist which highlights the diversity of African talent. The playlist is an explosion of Afro-centric sounds, carving out space for African creators to showcase their music to a global audience. In a similar vein, the #africanheatchallenge focuses on the key role that the afro-dance community has played in spreading African pop music across the globe. African artists like Focalistic, Fuse ODG, Olamide, as well as some of the leading female faces of dance music in Africa - Moonchild Sanelly, Sho Madjozi, Niniola, and Amapiano’s Lady Du are featured. In the recently released campaign video directed by South African filmmaker Zandi Tisani, groups of acclaimed and talented young dancers — like Nigeria’s Boluwatife, Ghana’s DWP Acade and South Africa’s Kamo Mpela— in Johannesburg, London, Lagos, Accra, and New York showcase a barrage of
African Heat - Focalistic
synchronized dance moves on rooftops, alleyways and roads as they dance to Focalistic’s hit ‘Ke Star’. By including emerging and established artists alongside one another — Focalistic and Lady Du together with Azonto dance genre pioneer Fuse ODG and Shaku Shaku street dance driver, Olamide — Spotify is showcasing its dedication to and investment in all artists. “The rich diversity of musical talent in Africa inspires and engages fans
around the world. Spotify continues to use the power of its platform to amplify African voices across a global stage, building an ongoing narrative that supports and puts African creators at the forefront,” said Spotify Head of Music, Sub-Saharan Africa, Phiona Okumu. These artists will also appear on large-scale Spotify billboards to promote African Heat in New York City and Toronto.
Alpha P’s Universal Sounds Universal Music Nigeria artist Alpha P is having a productive year so far. He is Apple Music’s Artist of the Month and was a Rookie of the Year nominee in the 2020 Headies. However, his latest feat is the inclusion of his single ‘Jiggy Pop’, which features TMXO, in ‘Rhythms of Zamunda’, a music compilation inspired by Eddie Murphy’s ‘Coming 2 America’. The compilation was curated by CEO, Universal Music South Africa and Sub-Saharan Africa Sipho Dlamini with the support of Universal Music Nigeria, Ivory Coast and Kenya. The body of work is a Pan-African project that bridges the gap between countries and cultures; tracing a musical roadmap through Western, Eastern, and South African soundscapes and introducing
Alpha
this synergy to listeners worldwide. Born Princewill Emmanuel, Alpha P started making music at a young age back in his hometown Benin City. While his friends had dreams of studying medicine and science, all Alpha longed
for was to get his music out to the world. With determination and passion, Alpha P embarked on his journey to Lagos where he was then signed by Universal Music Nigeria at the young age of 17. Since signing to Universal Music Nigeria, the Nigerian singer-songwriter and rapper released two projects ‘King of the Wolves’ and ‘Wolves and Mustangs’ in the past year. His main goal is to make music that people truly feel and connect with. He believes that his sound is universal and can reach all corners of the world. He is keen on showing aspiring artists that they do not have to be boxed in a particular genre to succeed, especially in Nigeria where the dominant sound is Afrobeats.
as the plot thickens. Each character seems to have a dual personality. But this is the hat-trick of the director; building blocks of suspense in each sequence, after all, what is a neo-noir film without mystery. On receiving
the script written by Babalola over five years ago, Okwo and Dominic were instantly convinced that this is the kind of film their company The Audrey Silva Company will invest in. Okwo works magic with the film’s direction. She propels the narrative with more action than dialogue, guiding the actors to interpret their roles from the depth of their creativity. The cinematography is dark and shadowy; and with the craft of architect and fashion designer Kelechi Odu, the imaginary world becomes visually striking. Multi-layered with themes that border on love, power and greed, the ultimate message of ‘La Femme Anjola’ resides in the titular character: beauty has different shades of entrapment. The film also stars Femi Jacobs, Ego Boyo, Paul Adams and Shawn Faqua among others.
To Commemorate its Fifth Anniversary, Temple Company Unveils Ogidi Studios The Temple Company is set to open the doors of its new world-class audiovisual facility to all local and international players in the content production landscape. The full-fledged content production facility, Ogidi Studios signifies a paradigm shift for the creative powerhouse, which established a solid reputation in talent and event management when it launched five years ago. Since then, the company has expanded its portfolio of services with a bold new extension in line with its mandate to elevate African excellence in the creative enterprise ecosystem. Ogidi Studios is located in Lagos, the hotbed of entertainment in the most populous black West African country of Nigeria. The world-class infrastructure according to Group Chairman Tunde Folawiyo, is an entire ecosystem of production for both audio and video content from conception to completion. The company’s Group Chief Executive Idris Olorunnimbe added that African talent could now utilise a domestic studio and realize the same outcomes as famed Hollywood studios. “Ogidi Studios is an idea that was long overdue. We are excited to contribute our quota to help bring Nigeria to the table to flex muscles and compete favourably with global players such as celebrated international musicians, producers and creatives who have left a mark,” he said. Ogidi Studio comprises dedicated audio and video production studios which can accommodate multiple projects
Interior of Ogidi Studios
simultaneously without interference. Its audio section includes rehearsal and recording studios with both analogue and digital facilities sound-proofed with the latest acoustics technology, making it the first studio in Sub-Saharan Africa and among the few in the world to take possession of what some call the Rolls Royce of sound recording. It houses the AMS Genesys Black console which is complemented with Augspurger speakers using analogue technology integrated into the studio environment and the digital audio workstations. Electronic Engineer and home automation expert, Ron Jones, Founder, Infinite Technology Global who executed the project for Temple Company noted that with Ogidi Studios, Nigeria now operates on the same level of sound and video technology with global players. “We are playing in a global market and people are looking for a certain standard in recording. Some of the international artists that are brought here from abroad are used to a certain level of equipment. With Ogidi Studios, we are not just building for Nigerian music for Nigeria but Nigerian music for the world. We are now operating at the same level using the same technology that is used throughout the world.” He was supported by Jason Cropper of Vintage Kings Pro Audio Upfitter, an audio specialist and founding member of Grammy award-winning Rock Band, Weezer.
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Pan-Atlantic University Hosts 40 Firms at Virtual Career Fair
Participants at the virtual career fair
Rebecca Ejifoma Pan-Atlantic University Ibeju-Lekki has held its first-ever Virtual Career Fair with about 40 highly recognised organisations as participants. The firms include BrandEye Media, Comic Republic, Gidi Mobile, Guaranty Trust Bank
(GTB), Infoware Ltd, International Facilities Services Group, Interswitch Ltd, NASD Plc., RnB Public Relations, Renmoney, Wema Bank Plc. Others are Multichoice, the Nigerian Bottling Company, Fosad Consulting Ltd, Sankore Investments, U-Connect Human Resources Ltd, Jordan Hill
Creative Writing & Reading Workshop, Goge Africa World Wide Ltd and Terawork Communications Ltd. Held on February 18 this year, the career fair was on the theme, “Leadership and Millennials: Adapting to New Work Realities”. An accomplished HR Field
Specialist and Head of HR, Food Division, at Flour Mills of Nigeria Plc., Omolara Yeku, was the guest speaker. Over 180 people attended the career fair virtually, and about 95 per cent of the students in attendance got interview slots with representatives of the various companies at the event.
OPPO Launches Reno5 & Reno5 F in Nigeria OPPO has unveiled two new models in the Reno5 Series, with the Reno5 and Reno5 F packing massive improvements over the previously released Reno3 Series. The global smartphone giant doesn’t look like it is slowing down anytime soon, as it makes yet another statement by these Flagship killers into the Nigerian market at very reasonable prices. The Reno5 series smartphones are designed for trend seekers looking for powerful, yet durable devices that boast of a mix of fun, new video features that enable them capture memories and moments from more than one perspective. While continuing to
introduce industry-leading technological innovations into its products, OPPO has also incorporated highly artistic aesthetic concepts into the designs of its products. Inheriting the complete integration of fashion and technology that has come to define the Reno family of phones, OPPO has given the new generation Reno5 Series a more fashion-forward charm. In addition to the unique design of the Reno5 and Reno5 F; the Reno5 is 171g light and 7.7mm thin while the Reno5 F is 172g light and 7.8mm thin. Both smartphones pack cutting edge technology. As high-tech devices, the Reno5 series’ integrated technology not only delivers
a superb user experience, it also contributes to the compact design of the phone itself. The Reno5 boasts of a 6.4inch AMOLED screen that offers an even more stunning visual experience by supporting a 90Hz refresh rate and 180Hz touch sampling rate, making every interaction extremely vivid and smooth. Additionally, the display is truly edge-to-edge, featuring a screen-to-body ratio of 91.7 per cent. On the body, the Reno5 introduces the “ever-changing color “ effect using the first diamond spectrum process in the industry; combining 3 different layers of Picasus Film, Fresnel Lens Texture
and Reflective Indium Coating. With this innovative industry technique, the Reno5 Fantasy Silver can project thousands of different colors when it is viewed fromdifferentangles.Eachofthese colors shines and sparkles in a way that is distinctive and full of life in its own right. OPPO also introduced its brand new Flowing Light Design concept on the Reno5 F, which this time adds depth to what might deceivingly appear to convey a single color at first glance. Flowing Light Design on OPPO Ren05 F showcases a gentler and warmer look to the phone in contrast to the colder colors and textures of Reno Series.
LASGPartnersCIGMotorsonWorldClassVehicleAssemblyPlant Rebecca Ejifoma The Lagos State Governor, Babajide Sanwo-Olu, has partnered CIG Motors Company Limited to establish a world-class motor vehicle assembly plant in Ogba area of the state. The governor announced this while also commissioning the first 1,000 cars for the new transport scheme - “LagosRide” at the event. The legal agreement for the establishment of the automobile plant was put forward by the CEO of Ibile Holdings Limited, Mr. Abiodun Amokomowo representing the state government, and
Governor of Lagos State, Babajide Sanwo-Olu (second left) flanked by representatives of CIG Motors, among others
the Vice Chairman of CIG Motors, Dr. Linus Idahosa, who represented CIG motors. Sanwo-Olu and the Chairman of CIG Motors, Chief
Diana Chen further unveiled the automobiles comprising the GAC GS3 (Mini-SUV) that will kick off the initial phase of the new LagosRide project.
Chen, in her remarks, emphasised the mission of GAC Motors, promising a mobile Lagos with the advent of the new venture.
BOAN Begins Inspection for Safety of Badgers, Goods on Lagos Waterways Rebecca Ejifoma Barge Operators Association of Nigeria (BOAN) is set to begin a two-day inspection for more safety measures in the waterways following the barge accidents that destroyed goods worth about N500million. The association said the barge accident occurred on Saturday, March 7 this year, involving two containers conveying expensive LED television sets, which fell off around Maza-Maza water channel. During an emergency press briefing in Apapa to address the accidents on the waterways within Lagos, the President of BOAN, Mr. Edeme Kelikume, noted that the suspension of activities would begin this week after meeting with regulators and stakeholders. He added: “The two-day shutdown of barging services will enable the regulator, Nigeria Maritime Administration and Safety Agency (NIMASA) inspect all barges. Those which fail the test will be pushed out of the system.” While emphasising that the two days shutdown would enable barge operators re-train their captains and officials on safety and best practices, the president said BOAN would write to terminals and shipping companies not to engage barges, which fail the test during this period. Listing the high rate of barge accidents, Kelikume attributed the causes to substandard jetties, improper loading by operators, and lack of balance on the barges. He added: “From our pri-
mary investigations, these accidents can be attributed to some factors we have identified but not exclusively those factors. One of those factors is called substandard jetties.” He hinted that the very unprofessional act of leaving barges unattended by tugboats has also left some of these barges unattended. For Kelikume, it is expected and it is a standard that every barge must have a tugboat attached to it to contain incidents like these. He also lamented that some boats in this axis “don’t have the standard required pumping machines, which is the first and the most important tool required in managing situations of barges taking in water.” Meanwhile, he outlined that BOAN had been lamenting for a while about the huge influx of unlicensed and unidentified barges, thus, has been a bit difficult to manage the situations. Kelikume, therefore, called on the Nigerian Ports Authority (NPA), NIMASA, and the National Inland Waterways Authority to address the overlapping functions in regulating jetties and barge operations. Also speaking at the meeting, a displeased member of BOAN, Wilson Ugbo, called the media’s attention to the influx of unlicensed and unregulated barges in the country. Ugbo, who is with Alliance Integrated Services, acknowledged that indeed accidents happen everywhere all over the world, even in climes that practised the best and safest procedure.
Standup for Women Society Seeks Abolition of Widowhood Practices Olawale Ajimotokan in Abuja The Standup for Women Society (SWS) has flayed the obnoxious widowhood practices in the country and has vowed to ensure it is completely abolished from the country’s cultural system. The Founder and National SWS, Deborah Ijadele-Adetona, echoed this at the inauguration of the national executive committee of the body held recently in Abuja. She vowed the society will in the coming years work to end the practice where women are subjected to all kinds of inhumane treatment upon the death of their husbands. The society also noted it would fight to a standstill the harmful practice of female mutilation that is still in existence in most parts of the country regardless of its attendant risks and consequences that have scared many women emotionally, physically and health wise. “Another issue that we
would take to the front burner in our struggle for the liberation of women would be the disinheritance of the girl- child where most female children are deliberately left out of the inheritance line in their families, even though recent studies have shown that the contributions of women to families have been discovered to be unparalleled and unmatched.# Ijadele-Adetona stressed that SWS, through well thought out programmes, would embark on massive enlightenment orientation for young women on the difference between gender roles and sexual roles and also on the subjugation and subsumption of women in society to maintaining a cordial relationship with the men not as rivals but as partners in progress. She also rapped the federal government for not catering to the interest of women in political appointments contrary to the tenet of the UN Affirmative Action in Beijing, 1995 that seeks gender equality at all levels of decision-making.
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ART WEEKEND
…For pure art enthusiasts
Burna Boy’s Historic Victory and the New Face of Grammys AsBurnaBoy’shistoricwinattheGlobalMusicAlbumCategoryforthe2021Grammysignitescelebrations,Yinka Olatunbosun reflectsontheinclusivenatureofrewardingartistrybythemostprestigiousawardinmusic
A Whiff of DanPrincewill’s Coffee Table Book
M
ËØã ÏÓÞÒÏÜ áÏØÞ ÞÙ ÌÏÎ ÙÜ áÙÕÏ ßÚ ÞÒÓÝ áÏÏÕ ÞÙ Ë áÒÓÜÖáÓØÎ ÙÐ ÍÏÖÏÌÜËÞÓÙØÝ ÞÜËÓÖÓØÑ ÞÒÏ àÓÍÞÙÜã ÙÐ ÓÑÏÜÓË˪Ý ÐÜÙ̋ÐßÝÓÙØ ËÜÞÓÝÞ˜ ßÜØË Ùã˪Ý áÓÍÏ ËÝ ËÖÖ ÓØ ÞÒÏ ×ßÍÒ ÍÙàÏÞÏÎ ÏÝÞ ÖÙÌËÖ ßÝÓÍ ÖÌß× ËÞ ÞÒÏ ;ͻÜÎ ÍÏÜÏ×ÙØã ÙÐ ÞÒÏ ÜË××ã áËÜÎݲ ÒÏ ÍËÞÏÑÙÜã áÒÓÍÒ áËÝ ÐÙÜ×ÏÜÖã ÕØÙáØ ËÝ ÏÝÞ ÙÜÖÎ ßÝÓÍ ÖÌß× áËÝ ÛßÓÞÏ ÍÙØÞÜÙàÏÜÝÓËÖ ÌÏÍËßÝÏ ÙÐ ÞÒÏ ÍÖËÝÝ ÙÐ ËÜÞÓÝÞÝ ÝÏÏØ ÞÙ ÒËàÏ ÌÏÏØ ÝØßÌÌÏÎ Ìã ÞÒÏ ÏÍÙÜÎÓØÑ ÍËÎÏ×ã ÙàÏÜ ÞÒÏ ãÏËÜݲ ßÔß ×ßÝÓÍ ÖÏÑÏØΘ ÓØÑ ßØØã ÎϘ ÐÜÙÌÏËÞ ×ßÝÓÍÓËØ Ï×Ó ßÞÓ˜ ËØÎ ÒÓÝ ÌÜÙÞÒÏܘ ÏßØ ØÓÕßÖËÚÙ̋ ßÞÓ ËÝ áÏÖÖ Ëݘ ßÜØË Ùã ÒËÎ ÝáËÖÖÙáÏÎ ÞÒÏ ÌÓʵÏÜ ÚÓÖÖ ÙÐ áËÞÍÒÓØÑ ÙÞÒÏÜ ÐÜÓÍËØÝ áÓØ ÓØ ÞÒËÞ ÍËÞÏÑÙÜã˛ ËÜÖÓÏܘ ÞÒÏ ÏÍÙÜÎÓØÑ ÍËÎÏ×ã ÒËÎ ÒÙÚÏÎ ÞÙ ÝÙÖàÏ ÞÒÏ ÚÜÙÌÖÏ× Ìã ÝÚÖÓʵÓØÑ ÞÒÏ ËáËÜÎ ÓØÞÙ ÞáÙ ÍËÞÏÑÙÜÓÏÝ ØË×ÏÖã ÏÝÞ ÜËÎÓÞÓÙØËÖ ÙÜÖÎ ßÝÓÍ ÖÌß× ËØÎ ÏÝÞ ÙØÞÏ×ÚÙÜËÜã ÙÜÖÎ ßÝÓÍ ÖÌß× ÌßÞ ×ÏÜÑÏÎ ÓÞ ÌËÍÕ ÞÙ ˩ ÏÝÞ ÙÜÖÎ ßÝÓÍ ÖÌß×˪ ÓØ ͺͺ˛ Brazil, USA, Benin Republic, India, South Africa, Mali and France had been produced artists who had won in that category but Nigerian artists had only secured nominations over the years which reflects inversely on the influence and depth of artistry in our music. Many Nigerian musicians had been included as members of music faculties and in the curricula of many western institutions that teach music. There is no sound music journalist in the Europe, US and UK who isn’t curious about Nigerian music. Unfortunately, the winner of this Best Global Music Award is not one who has the most record sales or chart altitude, but must demonstrate excellence in recording industry, technical proficiency and influence in global music. Certainly, the jury has the power to determine the winner which was clear when Burna Boy’s African Giant album was edged out last year by Angelique Kidjo’s Celia album.
A spread of the Coffee Table book, The Beauty of Lagos
Rebecca Ejifoma
Burna Boy
For Kidjo to have paid tribute to Burna Boy in her acceptance speech was to acknowledge the efforts of young African musicians who break into mainstream global market without government subsidy or protective structures for creative works. These musicians dominate concert sales, playlists in clubs, in-flight playlists and top-class talk shows including Jimmy Kimmel Live and The Daily Show now with Trevor Noah. The issue that surrounds this category is not unique to it. For instance, rap music custodians raised the roof when different manifestations of rap music surfaced. Commercial rap was kicking out hard-core, lyrical rap from the winners’ table at the Grammys. Now, the recording academy has included “Best Melodic Rap Performance’’ to reward artists whose vocals are sung or rapped just like Nelly, Drake, Post Molone and others. The Grammys wouldn’t be the reason why another “war of the hoods’’ will start. Having multiple awards for sub-genres of music such as dance/electronic, urban contemporary also take the load off pop music category and help to rewards deserving artists.
Women also dominated the Grammys this year, with the most-nominated female in history, Beyonce securing the most Grammy wins by a female with her 28th Grammy. She now holds a tie with the master producer and multiinstrumentalist, Quincy Jones for second-most Grammy wins ever. Queen Bee has three more Grammys to win if she would beat the record set by the late Hungarian-British conductor, Georg Solti. Other female winners at the 2021 ‘tables only’ ceremony include Billie Eilish (Record of the Year), Dua Lipa (Best Pop Vocal Album), Lady Gaga (Best Pop Duo), Megan Thee Stallion (Best New Artist), Taylor Swift (Album of the Year), Fiona Apple (Best Rock Performance), Ariana Grande (Best Pop Duo), Miranda Lambert (Best Country Album) and Tiffany Haddish who won in the Best Comedy Album category as the first woman of colour since 1986 when it was won by Whoopi Goldberg. Truly, the face of the Grammys is changing to a more inclusive one and it is not without the effort of artists who have shattered the glass ceilings in the different categories to own their art.
iREP, AWDFF Begin Virtual Documentary Film Festival Yinka Olatunbosun Yesterday, the iREP Documentary Film Festival in collaboration with the US-basedAfrican World Documentary Film Festival at the School of Theatre, Television, & Film at San Diego State University began a virtual film festival that would feature no fewer than 60 films. The four-day event which runs till March 21st had largely drawn other collaborators from Cameroon, South Africa, Ghana, Rwanda and the Caribbean to keep alive this multicultural event that was cancelled last year due to the lockdown measure against the ravaging Covid-19 pandemic. With the theme, “Africa in Self-Conversation,” the programme in its usual tradition will include screenings, conversations, lectures, producers’ conventions amongst others. Femi Odugbemi, the Executive Director of iREP, has described the virtual film festival as a necessary child or circumstances. “Through the collaboration of both Lagosbased iREP and San Diego, US-based AWDFF, however, the documentary world will be treated to a feast of flicks that have been carefully curated to reflect the diversities of human experiences through themes that cut across social, cultural and political issues that affect the collective. The virtual option has enabled us to harvest films from even greater numbers of countries and filmmakers; and especially the notion of bringing
A view of the audience at iREP Documentary Film Festival
Africa and its diverse diasporas together has been greatly enabled by the virtual option,” the iREP programme directorate revealed. Designed to promote awareness about the power of the documentary format to serve as a means of deepening and sharing social and cultural education as well as encouraging participatory democracy in African societies, iREP is perhaps one of the most cosmopolitan cultural gatherings in Lagos. This explains why the educational outreach programme will strengthen the exchange of knowledge. Significantly, the iREP-AWDFF partnership has enabled the extension of the Festival to
university communities across the continent and the diaspora, which had always been the strongest culture of the AWDFF, which started and continued as a university-based festival project. To this extent, the School Outreach scheme will ensure screening and conversation contents attract the interest and participations of students in select campuses in South Africa, Cameroon, Nigeria, Rwanda, USA and The Caribbean. Some of the movies to be screened include Femi Odugbemi’s “Unmasked”, Ayo Adewunmi’s “Confra,” Siji Awoyinka’s “Elders’ Corners,” Kaka Benson’s “King of Highlife: Cardinal Rex Lawson” amongst others.
The petite-looking Deinte Dan-Princewill stepped out in her shimmering sequineddress as she received distinguished Nigerians who converged on the Victoria Island venue of her book launch recently in Lagos. The Coffee Table book titled, “The Beauty of Lagos.” In the book, she chronicles the unseen and overlooked beauty of Lagos, Africa’s most populous city, documenting its positive attraction sites. The young architect and design consultant described “The Beauty of Lagos” as a visual and verbal documentation of the beautiful sites of the state; highlighting all the adorable places and faces. “I decided to start the beauty of Lagos because I felt there was a gap in what was being shown in the media. I think it is important to show very positive serene, aspects of Lagos that we don’t typically see,’’ she revealed. Eventually, it took her three years to complete the book. Equipped with the high-resolution cameras, it was difficult to take pictures in certain areas of Lagos without obstacles from street urchins. Still, she focused on the positive sides of the aquatic city. In her view, the coffee table book has a strong potential in appealing to Nigerians in diaspora who return home for vacations, expatriates and other international visitors. The graduate of Cornell University, USA recalled how she had started this adventurous journey as a visual storyteller. When Deinte decided to move to Lagos, she ventured into adventures that daily challenges would not let many Lagosians explore. And because she studied photography, she found ways to document these in her book. “What we see in the media always is not the most accurate version. I feel like we just get this side that is overly a bit on the negative side. That informed my book – showing the positive sides, be more intentional.’’ The State Commissioner for Tourism, Art and Culture, Uzamat Akinbile-Yusuf while commending the writer said she believed the government of Lagos would support her subsequent projects and programmes. The Chairman of the occasion, Dr. Yemi Cardoso acknowledge the effort of women in setting the pace. According to him, it was no longer a ratio of two men to one woman especially with respect to the planning. “It is because you rightly took the bull by the horn and did the right thing,” he said. With this role played by Deinte, Cardoso appealed to the youth to follow suit; urging them not to wait for anybody to invite them. “It is your show. Take it over and be part of it.” Describing the publication by a youth as a classic example of the youth taking the bull by the horn, the chairman said this means the youth are showing what they are really made of.
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Honour, Tribute for Late Chief Olu Benson Lulu-Briggs As the Paramount Head of Oruwari Briggs War Canoe House of Abonnema, late Chief Olu Benson Lulu-Briggs, was laid to rest last week, Chiemelie Ezeobi reports that the week-long ceremony included an evening of drama, tributes, art exhibition, and boat regatta, among others, for the nationalist, industrialist and renowned philanthropist
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or ParamountHeadofOruwari Briggs War Canoe House of Abonnema, in Akuku Toru Local Government Area of Rivers State, late Chief Olu Benson Lulu-Briggs (OON), his onward journey to the great beyond was a weeklong ceremony filled with an evening of drama, tributes, art exhibition, and boat regatta before he was laid to rest in his hometown. The late politician, industrialist and oil mogul, who was known for his philanthropy and nationalism, was also the Iniikeiroari V of Kalabari Kingdom and Opomulero of Ijero Ekiti in Ekiti State, thus his funeral witnessed all the glitz and glamour fit for a king. Evening of Tributes, Art, Exhibition The week-long ceremony began on Monday, March 8, 2021, with an evening of drama, tributes and art exhibition at the University of Port Harcourt. Speaking during evening of drama, tributes and art exhibition, acting Vice-Chancellor of UNIPORT, Professor Steve Okodudu, stated that the death of the university’s “benefactor, patron, father, and Alumnus is certainly a direct tragedy for the University of Port Harcourt. This is because of the boundless philanthropy and assistance, he rendered to the university”. Okodudu noted that the university crossed paths with late High Chief O.B Lulu-Briggs when efforts were in gear to improve on the infrastructural profile of the institution and that the lot fell on an equally illustrious son of Kalabari kingdom and then Vice-Chancellor, Professor Nimi Briggs. He said the response from High Chief Lulu-Briggs was the building and donation of a purpose-built structure to house the University Health Centre, adding that the deceased impacted on the university in many other ways including becoming one of the foremost “benefactors and rare friend of the university,” while also endowing a “Professorial Chair and never ceased to give unflinching support to the university when approached”. In response to his acts of kindness and support to the university, Okodudu said the deceased was awarded a Doctorate Degree Honoris Causa. Responding to the gesture, Head of Young Briggs House of Abonnema, Chief Dumo LuluBriggs, said he was short of words to describe how the university organised such an elaborate programme in appreciation of what his father did for the institution, just as he also promised to reach out to the school. Earlier, the University Orator, Professor Bridger Nwanze had led Chief Dumo Lulu-Briggs, UNIPORT VC, Professor Steve Okodudu, former vice-chancellors, management staff, and guests to an arts exhibition in honour of the deceased. Service of Songs The second event in the long line up of activities was a service of songs and tributes, which was held at the the EUI Centre, Plot F 11, Sani Abacha Road, GRA Phase 3, Port Harcourt. At the event, former Senator representing Rivers South-East in the National Assembly, Senator Magnus Abe, who extolled the virtues of the deceased said: “I don’t think that High Chief O.B Lulu-Briggs woke up any morning to pray about what people will say when he dies. He woke up every day, he did the best he could, helped those he could help and did what was right for him that very day. “He did not use his money to force people to say good things about him but because he did good things, people are saying good things. There are so many good things about Chief O.B Lulu-Briggs that we can learn from. I have always referred him as a pillar of the community.” Urging those gathered not to weep over him
Mortal remains of Chief Olu Benson Lulu-Briggs at the funeral service
because he was a good man, who lived a good life, Abe added that “for those of you that never knew High Chief O.B. Lulu-Briggs during his young days that now see Chief Dumo Lulu Briggs, you will think that High Chief O.B. Lulu-Briggs is still alive. Because Dumo is a carbon copy of his father in his philanthropic nature and all that we are celebrating of the father today. High Chief O.B. Lulu-Briggs is still alive here with us”. Speaking also, former President of the Nigerian Bar Association (NBA), Onueze Okocha, said the late founder of Monipulo Limited, touched several lives in communities in the Niger Delta through his company and the O.B Lulu-Briggs Foundation. Okocha said: “Chief O.B Lulu-Briggs was a proud Kalabari son, who touched many lives. Through Monipulo and O.B Lulu-Briggs Foundation, he touched several lives. If he was not touching lives of widows, he was touching lives of destitutes or communities through medical outreaches.” Also speaking, Chief Dumo Lulu-Briggs said contrary to what people might insinuate, the family left behind by their late patriarch and nationalist, remains one and will not allow what transpired before now define them. Rachael Lulu-Briggs, who gave the tribute on behalf of the family said they popularly called the late High Chief O.B Briggs “The Last Don,” as he was a loving father who touched the lives of everybody who came across him, adding that , “God greatly blessed our father and together with his wife, they elevated philanthropy to a foundation that reached out to people from all walks of life”. Asides the tribute showered on the deceased, famous gospel singer, Mercy Chinwo took praise worship to a new height as she led the audience to worship God. Also minstrels like Oma Pitch, Lemuel Iyalla, Sodienye O’mailey, and Ibifuro Olungwe, gave solo performances in worship of God. In his sermon taken from Psalm 39:4 “Lord, make me know my end,And what is the measure of my days, That I may know how frail I am,” the officiating minister and President, Christian Council of Nigeria, Most Reverend Dr. Benebo Fubara-Manuel, harped on the need to good at all times and not allow challenges of life to harden our hearty to doing good. Fubara-Manuel, who is also the Vice President, Fellowship of Christian Councils and Churches in West Africa, praised the deceased for his philanthropy and kind-heartedness, pointing out that he used his resources to affect humanity in so many positive ways. Among those at the service of songs include former Governor of Rivers State, Sir (Dr) Peter Odili; former Managing Director of the Niger Delta Development Commission (NDDC), Mr. Timi Alaibe; former Attorney General and Minister for Justice, Mohammed Bello Adoke, SAN; Senator Magnus Abe, former Nigerian Bar Association (NBA) President, Onueze Okocha; Managing Director of Heritage Bank, Ifie Sekibo; Dr. Etim Okon, Chairman of Cross River State Council of Traditional Rulers, HRM Eze Leslie Eke, Eze GbakagbakaofEvokingdom;DamianDodo,SAN; King Joshua Igbaguru, the pioneer chairman of
Former President Goodluck Jonathan paying tributes during the funeral ceremony, while the chief mourner, Chief Dumo Lulu-Briggs listens
Bayelsa State Traditional Rulers Council; clergy, amongst others. Boat Regatta On Friday, March 12, his mortal remains arrived Port Harcourt. The Head of Young Briggs House and Chief Mourner, Chief Dumo Lulu-Briggs, joined by other family members, were on hand to receive the body at the Port Harcourt International Airport, Omagwa. The convoy later moved to Buguma, headquarters of Asari Toru LGAfor a brief stopover before transporting the mortal remains via the sea to Abonnema, headquarters of Akuku Toru LGA amidst boat regatta from different houses and groups. The atmosphere in Abonnema became charged when all sighted the boat conveying the corpse from Buguma. Christian Wake At the Christian Wake, a magnificent stage hosted the mass choir for the which featured a full church service, the 200-man choir and other harmonious groups from the community. Tearful Tributes were given by the Staff of Monipolo and from the children to round off the Christian wake. Then the live bands took over with the good old time MC Sagastus, and several entertainers of yore who reigned in famous hangouts and nightclubs. They included Sir Perry of the Ozigizaga fame; Rastaman Bob Kelly, the reggae master who rolled out Bob Marley tunes including the famous ‘One Love”; Baba Tony Grey who sent the audience down memory lane as he thrilled with his konga and rendered some famous Rex Lawson tunes; Chief Elenwa of the Garden City Band; Positive Man and Captain Hart, who belted out several old Ghana classics made popular by JB Danquah and Henshaw, amongst others. Funeral Ceremony On Saturday, March 13, the funeral ceremony held and torrents of tributes poured in from former President Goodluck Jonathan; Rivers State Governor, Nyesom Wike; and First Lady, Hajia Aisha Buhari; among others, who described the deceased as a blessing to humanity as the service was conducted by eminent men of God across various denominations. Early enough, the procession from the Oruwari Briggs House to the venue for funeral service was a show love and admiration for one of its own. In his homily at the funeral service, the Special Assistant (Special Duties) to the General Overseer of the Redeemed Christian Church of God (RCCG) and Supervising Pastor for Rivers, Bayelsa, Cross River and Akwa Ibom States, Pastor Belemina Obunge spoke of the need to set priorities in life and for such purpose to be fulfilled. Quoting scriptures from John 4:13-14 and Ephesians 2:10, Obunge, who is also RCCG’s International Youth Pastor, spoke of the need to create positive impact while alive, adding that such legacies have to be something unforgettable, just as he tasked those present to leave behind positive legacies like the late O.B Lulu-Briggs, stressing that “we must inspire others and have a purpose to be like Christ”.
In her tribute to the deceased, wife of Nigeria’s President, Hajia Aisha Buhari praised the philanthropic gestures of late O.B Lulu-Briggs, who she said was quite close to the first family. Hajia Buhari, represented wife of Minister of State (Petroleum), Mrs Alayingi Timpre-Sylva, tasked the family to take solace in the fact that they were capable of keeping the flag flying and prayed God to bless and give the family peace. Nigeria’s former President, Dr Goodluck Jonathan went down memory lane, recalling how he came in contact with the late Lulu-Briggs, pointing out that it was sad losing him. He stressed that the deceased, who was a father to all, touched lives in so many ways, just as he prayed for Dumo Lulu-Briggs and his siblings to be able to fit into the legacies their father left behind. Humbled by the outpour of show of love from dignitaries across all divides, the chief mourner, Chief Dumo Lulu-Briggs expressed deep gratitude and promised to do all within their powers to sustain their father’s legacies. Dignitaries that attended the occasion include Rivers State Governor, Nyesom Wike and his Deputy, Dr Ipalibo Banigo; former Cross Rivers State Governor, Donald Duke; former Rivers State Governor, Sir Celestine Omehia; Minister of Transport, Chibuike Amaechi (represented by Dr Dawari George), Ministers of State (Petroleum), Timipre Slyva and his Mines and Steel counterpart, Dr Uche Ogah; Secretary to Rivers State Government, Dr Tammy Danagogo and former Managing Directors of the Niger Delta Development Commission (NDDC), TimiAlaible, Joi Nunieh and Bassey Henshaw. Others include Chairman of Rivers State Council of Traditional Rulers and Amayanabo of Opobo, HRM, King Dandeson Jaja; Chairman of Cross River State Traditional Rulers Council, Dr Dr. Edet Okon Etim; Managing Directors of Heritage Bank, Ifie Sekibo and his Access Bank counterpart, Herbert Wiggwe; Amayanabo of Abonnema, King Disrael Bobmanuel; Ambassador of Nigeria to Jamaica,Ambassador Maureen Tamuno; wife of former Bayelsa State Governor, Mrs Margret Alamieyeseigha; immediate past Director General of Nigerian Maritime Administration and SafetyAgency (NIMASA), Dr Dakuku Peterside, among others. Defender of the Christian Faith Born in 1930, late Lulu-Briggs elevated philanthropy to the status of an admirable act even before he founded the O.B Lulu-Briggs Foundation in 2001. He devoted a part of his resources to the service of the church, where he provided financial assistance to churches and assisted in building of church projects all over Nigeria. In his later life, Opuda, as he was fondly called, committed himself to evangelism using the platform of the O.B Lulu-Briggs Campaign For Christ to spread the word of God to chiefs and royal fathers in Rivers State. For his commitment to the work of God, the Communion of Pentecostal Bishops (CPB) bestowed on him with the honour of Defender of the Christian Faith.
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XTRA
The Seyi I Knew
Victor Onyenkpa
I
will not write a tribute for Seyi. Writing one would mean I accept he is actually gone. That is a reality I am not ready to face yet. The news of Seyi Bickersteth’s death on 3rd March was a shock to everyone who knew him. He was hale and hearty and in high spirit the previous day. And somehow, he did not come across as the sort of man that would go to bed and just not wake up the next day. He was too full of life for that! I first met Seyi in 1990. I had been interviewing to join the firm KPMG (Arthur Andersen as it then was) and the interview with Seyi was to be the final one to determine whether or not I join the firm. The interview was scheduled for 10am on a Monday. And as is usual with fresh graduates looking for a job, I got to the office at a few minutes past 9am. I settled down to wait, after informing the Receptionist of the reason why I was there. When it was 5 minutes past 10am, I went up to the receptionist to remind her that I was supposed to see Seyi at 10am. She assured me she had not forgotten and that she would let me know as soon as Seyi was ready to see me. I think I got up to remind her every 10 minutes thereafter. Having come all the way from Aba for the interview, I wasn’t going to let some forgetful receptionist blow my chance of joining the prestigious firm! Eventually at about noon, I decided to go and get something to eat and diligently informed the receptionist, just so she does not think I had gotten impatient and left. On my way back, I was feeling rather selfconscious of the several times I had gone to the receptionist to remind her of my interview, and so decided to quietly sit down. But as I soon as I got in, she informed me that Seyi was ready to see me. Apparently, he had come in while I was out. She had called to let him know I was back as soon as she sighted me walking in through the gate. She was still describing how I would get to his office when Seyi himself came down the stairs and took me to his office. Being the Aba boy that I was, I rounded up on him on how our interview was supposed to be at 10am and how I had been waiting for him since then. He apologized profusely and informed me he had to see a client at short notice. Back in the day, there were no mobile phones and land lines were few. The interview itself lasted about 30 minutes, at the end of which Seyi asked me when I would like to resume. Knowing what I know now, I realize that that sort of rather aggressive behavior would likely have cost me the job, as most interviewers would have considered it disrespectful. But not Seyi. He looked through all of that and saw a boy who was not afraid to express his views. I also suspect it made him take a particular interest in this rather unusual Aba boy. I remember when I was a young manager in the firm and was a member of an ad-hoc committee set up to do salary survey of other firms and make recommendation on the salary to be paid to various levels of staff. Dotun Sulaiman was the Managing Partner at the time, while Seyi was the Head of Tax. We had been invited to present our findings and recommendations to the leadership team of the firm. Somewhere in the course of the meeting, Seyi and another member of the leadership team who was an expatriate disagreed on something. I don’t quite remember what the disagreement was about, but I do remember to this very day, how Seyi stayed focused on the subject of the disagreement and refused to get personal, in spite of several provocations. Needless to say, that act made a lasting impression on me. I have, on several occasions, been in similar situation as Seyi was on that day, where the other person had
Seyi
gotten personal. I have to admit that I have often taken the bait and have not always stayed on the subject. But I have the Seyi formula, so I will keep trying. Seyi epitomized humility. Not the sort of humility most of us like to think we have. But real humility. He was completely inured to the sort of expectations most of us have, by virtue of our position. This enabled him to genuinely relate to different people across different levels of society. Seyi had the memory of an elephant. Yes, he did! I doubt he ever forgot someone he met, no matter how briefly. I certainly know he didn’t forget whatever you said to him! I remember when OBJ assumed office as civilian President in 1999 and had made a dear friend, Solomon Giwa-Amu (may his soul rest in peace) his ADC. I had casually mentioned this to Seyi in the course of a conversation and promptly forgotten it. You can therefore imagine my surprise when Seyi told me about a year later that he had been trying to arrange a business meeting with the President on behalf of operators in a particular sector of the Nigerian economy. All the channels he had tried had not been successful, so he wanted me to get my friend, who was the ADC, to make it happen! Solo, as we called him (bless his soul) made it happen. But I learnt to be careful what I tell Seyi, as I might be called to account on a future date. I have read several of the tributes that have been written on Seyi. And I realise that he touched many lives, just the way he touched mine. I am yet to find someone who met Seyi and was not captivated by his sheer electricity and presence. And so, I will not write a tribute. I fear that my words will not do justice to the person that Seyi was. I had the rare privilege of working directly with Seyi from a young age in my career. I still remember a marketing call that we made. An American company had just set up shop in Nigeria and was in the process of choosing a tax consultant from among the top accounting firms in Nigeria and we had been invited. I spent several days on our presentation, making sure it would impress! When we finally got to the meeting, Seyi and the American spent the entire hour that the meeting was scheduled for, discussing American football! Seyi’s knowledge of the game and the players, past and present was legendary. He knew the
greats that the gentleman’s favorite team had produced, the positions they played and the nuances to their style of play. The American was so taken by him, that we barely had time to discuss the proposal. He told us right there and then, that he would like us to be his tax consultants and that he would be sending us a formal letter to that effect. I still wonder what he told the other firms that he had scheduled to meet. But I learnt a valuable lesson on the power of relationships. Beyond our subject matter which we had to know better than the next person, Seyi taught us the power of having a broad knowledge of a wide variety of other subjects and being able to find the connection with the other party. In all the years I worked with him, I cannot think of a time when he was unable to find a point of connection with the several people we met together. Seyi and I had a client that was a multinational company. The tax affairs of the Europe, Middle East and Africa region was overseen by a gentleman that was based in the UK. He would visit Nigeria every quarter and part of what we did was to give him an update on the developments of the Nigerian political and economic environment and the implications for his business in Nigeria. At the end of one of those visits, Seyi and I got up to see him off. He shook Seyi’s hand at the door and asked if I could see him to his car. As we walked away from Seyi, he told me that he would like me to join his company. After seeing him off, I went right back to Seyi’s office and informed him of the discussion. But rather than dissuade me like I expected him to, he encouraged me to have the conversation and make up my own mind. One thing led to another and the company made me an offer to join their operations as an expatriate staff based in Europe. On informing Seyi, he offered to arrange meetings for me to speak with 2 ex-staff of the company that he knew, before I made my final decision. I met separately with the gentlemen who both encouraged me to join the company, especially as I was to be an expatriate staff. I could see that Seyi wanted me to stay in the firm, but he respected my choice. He however informed me that he had submitted my name for partner consideration and did not see any reason why his proposal would not be accepted. As the formal announcement of the new partners was due in a couple of months, he suggested
that I defer joining the company until after the announcement. As he explained it, this would have two benefits. First, it would read better on my CV saying I left the firm as a partner, rather than as a senior manager. And should I ever consider rejoining the firm in future, there would be no question as to what level I should rejoin, if I left as a partner. Although I did not think I will return to the firm at the time, I am glad I accepted this advice. It ultimately enabled me to return to the firm, after several years of working for the multinational company both in Europe and Nigeria. Of course, Seyi was heavily involved in luring me back to the firm, but that is a story for another day. Write a tribute to Seyi, you say? But how do I find the words that would properly express what he was to me? How do I properly convey the fact that I owe whatever I am today to Seyi? How do I find better words than my colleague, Ajibola Olomola, who described him as ‘a god amongst men’? Kunle Elebute, the current National Senior Partner of KPMG in Nigeria and the Chairman of KPMG Africa in his tribute had this to say, and I quote: “You were exemplary in everything that made you to be worthy of emulation – dress sense, diligence, excellence, business ethics, personal discipline, modesty, financial prudence, results-driven, stewardship, health and fitness, humility and respect for the individual, which made you to relate to all staff at every level as a brother and friend. We will all remember you as a great achiever, an exemplary leader, and an institutional builder, and you will go down in history as one of the most successful leaders of leading professional services firms in the world”. So, I will not write a tribute for Seyi, as all the right words have been taken. But I will mourn him. He was everything to me. But above all, he was my friend. And in being my friend, he drove me harder than he did most people. Yes, it was apparent to most people that knew Seyi and I that we had a special relationship. And they naturally assumed that it made things easy for me. Nothing could have been further from the truth. We had our fights. Oh yes, we did! Seyi was not going to let me fall short of his expectations. I know that I am not quite where he would like me to be, but I am working on it. My thoughts and prayers are with dear Catherine, his wife, and Melody and Amy, his daughters. If we, who merely felt the reflected warmth of Seyi’s personality are so grieved by his absence, I can only imagine how lost you, who basked in the direct heat of his love and devotion must be! My lovely Sophia and I have not ceased praying for you since we heard of his passing on 3rd March. But be consoled that if Seyi had had a choice on how he should go, it would have been exactly as he did – quietly leaving the scene without subjecting his loved ones to years and months of having to look after him on his sick bed. He would have liked all your memory of him to be exactly what it is; a husband and father that was the embodiment of rude health and infectious cheer, until the very end. In some parts of Ibo land, there is this tradition that when a man dies, the wife is required to completely shave her hair, as a mark of honor for her husband. It is not a tradition we have in my part of Ibo land. But my mum shaved her hair when my dad died, although she was not required to. I shaved my hair when my mum died, although I was not required to. I will be shaving my hair in memory of my boss, mentor and friend, Mr. Oluseyi Pesu TogonuBickersteth. Thank you for investing a part of your life in me. Good night, boss. I will never forget you. t0OZFOLQB JT UIF $00 ,1.( JO /JHFSJ
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EVENT
Ugwuanyi: Celebrating A Rare Humanist @57 Samson Ezea
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s a young man who was desirous of making name in journalism practice more than a decade ago, I was fortunate and privileged enough to commence practice of the noble profession on politics desk. Writing and covering politics, politicians and their activities exposed me to many things and brought me in contact with many politicians and critical stakeholders, of which Enugu State Governor Ifeanyi Ugwuanyi is one of them. Since then, I had meticulously followed Ugwuanyi’s political trajectory and leadership exploits, just like other colleagues of his who are political players. Without mincing words or sounding hyperbolical, I can confidently and unequivocally say that Ugwuanyi, who will clock 57 years tomorrow is not a typical Nigerian politician, who politicises and sees everything from the prism of partisan politics, even after elections. This is the attitude that has been the bane of good governance, peace, development and security in Nigeria since the return of democracy in 1999. For Ugwuanyi, partisan politics is secondary, while good governance associated with the general wellbeing of the people and peaceful coexistence is primary. Politics to him, starts and ends before, during and after elections. Immediately after that, good governance takes centre stage. The overall interest, welfare and wellbeing of the people irrespective of party affiliation, religion, tribe or status takes precedence over any other interest. This has been his leadership style before and since 2015 he assumed office as Governor of Enugu state amidst daunting challenges. He is not pretentious, political or hypocritical about it. As can be seen, his government policies and programmes have always been fashioned in that direction. It is not in doubt that it is in his nature to care and cater for others. He places much premium on it more than any other thing. He has been passionate and consistent about it and derives joy in doing it. No wonder, he has been often described as a compassionate leader, rare humanist, welfarist, pacifist and humility personified. Of utmost concern and worry to him at every given time is how to take care of the welfare and wellbeing of the people, especially the downtrodden. He believes so much in humanity and has massively touched lives and provided comfort for the people at the grassroots level with the provision of numerous critical infrastructure which include roads, hospitals, schools, jobs, and others in the rural areas across Enugu State in an equitable and unprecedented manner. These rural areas or communities have only been remembered or accessed by politicians before and during elections. Indigenes and residents of some of these rural communities have not seen buldozer, access or asphalted roads for years. The people had lived and survived on self-help and communal efforts, which were not enough to make life meaningful and comfortable for them before now. But with Ugwuanyi government’s massive infrastructural development and opening of the rural areas across the state, which has led to the completion of more than 248 rural roads and still ongoing, the situation has changed for good for the people of Akpugo community in Nkanu West Council Area, Nimbo and Nkpologu in Uzo-Uwani Council Area, Ogbodoaba in Udenu Council Area and other rural communities across the state. Ugwuanyi is a man who is at peace with
Ugwuanyi
his people and God. He sacrifices anything to ensure that peace reigns. He is never carried away by the paraphernalia of office and exalted position of governor. He has used power to unite and develop the state. Very unassuming and urbane, he is a listening leader, who loves details and good results. Born fifty-seven years ago, precisely March 20, 1965, into the modest and cultured family of Mr David and Mrs Veronica Ugwuanyi, of Ohom Orba in the present Udenu Local Council Area of Enugu State during the lenten period. He was christened Lawrence and was also given Igbo name-Ifeanyichukwu, meaning that nothing is impossible with God. A name that is meaningful, philosophical and symbolic and spiritual in all ramifications. A name that has lived with him and has continued to manifest in all his endeavours. Ugwuanyi just like his siblings, was brought up in a God fearing way. He is clothed with humility, taciturnity, intelligence, honesty and diligence.These virtues remain his greatest assets and strengths. Growing among his peers, he shone like a star both in academic and extra-curricular activities during his primary, secondary and tertiary education pursuit. His exemplary leadership quality began to manifest early in his life as a secondary school student at the prestigious St. Theresa College, Nsukka, where he was outstanding in character and learning. After his secondary education, he secured admission into the Nigeria’s foremost university, University of Nigeria Nsukka (UNN) where he obtained a Bachelor of Science Degree in Finance and M.Sc. degree in Marketing, majoring in Public Relations. In his quest for deep and wider knowledge, he moved further to acquire MBA degree in Finance and Accountancy from Enugu State University of Science and Technology (ESUT). While his colleagues scrambled for white collar jobs, within and outside the country upon graduation, Ugwuanyi, who had always believed and preferred working for and with his people for the common good of all, picked a job at Premier Brokers Limited, a prime insurance broking firm in the Southeast zone owned by the five states of the zone and African Continental Bank (ACB) now defunct. After many years of excellent performance, he rose to become the Chief Executive Officer of the Premier Broking Firm. In 2002, he became the 16th president of the Rotary Club of Emene, Enugu. It was at this point that his leadership qualities and exceptional philanthropy, especially to the downtrodden and the less privileged in the society came to public fore. Without hesitation and in appreciation of his rare philanthropy, the people of his town, Orba, in an elaborate traditional ceremony conferred on him the title of Dunu Gburugburu 1 of Orba, meaning the man of the people. Satisfied with his exploits and track record in public and community service, Ugwuanyi’s people beckoned on him to
offer himself for political office. His foray into the murky water of Nigerian politics commenced with his quest to serve as chairman of his local council area, Udenu. Despite losing the opportunity to political intrigues and backbitting, Ugwuanyi remained undaunted and focused in his political pursuits, banking on God and his people’s support and prayers. In 2003, true to Ugwuanyi’s belief, expectation and hope, the political opportunity came calling. He won the ticket of the Peoples Democratic Party (PDP) to contest for Igbo-Eze North/ Udenu Federal Constituency seat. He overwhelmingly won the election and his constituents enjoyed his quality representation. He was rewarded and appreciated by his people with reelection in 2007 and 2011, making him the longest serving House of Representatives member in Enugu State before 2015 general elections. While in the House of Representatives, he moved so many motions and initiated some people-oriented bills. He also chaired and co-chaired some many committees,including Marine Transport committee which he chaired for eight consecutive years. Following his philanthropy, performance and antecedent, while in the House of Representatives for more than a decade, Ugwuanyi’s desire to contest for Enugu State governorship seat on PDP platform in 2015 received massive support and accolades across the state. He won the PDP governorship ticket, contested and won the governorship election in Enugu State in 2015. Unfortunately and for the first time since 1999, his party PDP lost the presidency to the All Progressives Congress APC in the same election. On assumption of office, Ugwuanyi was not perturbed by the change in the political equation at the centre. In the face of the obvious and daunting financial challenges occasioned by the country’s recessed economy in 2015, Ugwuanyi first sought the face of God and handed over the affairs of the state to Him. He faced his job with utmost diligence, equanimity and fear of God. Knowing that nothing could be achieved in an atmosphere of crisis and insecurity, Ugwuanyi’s administration aggressively embarked on peace and security initiatives. First, he reached out to Enugu people, which include the opposition members, youths, elders, religious leaders, women and politicians, asking them to join hands with him in moving the state forward. He reminded them that elections were over and the wellbeing and peace of Ndi Enugu remain paramount. Initially, not many believed and took him serious until he convinced them by his actions and inactions that he is sincere and genuine in his approach. With this, people’s support for his administration increased tremendously because they saw in him a man who can sacrifice anything for peace to reign. Ndi Enugu, irrespective of status, tribe, religious or party affiliation, had wholeheartedly joined hands with his government to move the state forward. That was how and why Ugwuanyi was able to reconcile the political heavyweights in the state, who have been at each other’s throats over age-long political differences. That is why once estranged political allies, enemies and friends are talking to each other in Enugu today. This was not possible before Ugwuanyi assumed office in 2015. Ugwuanyi is an apostle of peace and peace has continued to reign in Enugu under his watch like never before. In the area of infrastructural development and appointments, Ugwuanyi’s administration has equitably and sincerely distributed and allocated them without minding whose ox is gored or compromising quality, competence or standard. His penchant for youth inclusion in governance is unparalleled. This, he has demonstrated
by the number and quality of youths he has appointed into his government. Many youths were also elected chairmen and councillors. The 450 autonomous communities, three senatorial zones, 17 local government areas and 260 electoral wards in the state have felt the impact of Ugwuanyi’s administration one way or the other. If it is not by appointment, it is by development project and others. No group or individual or community is excluded in the business of governance in the state especially at the grassroots level. Even with the heightened insecurity across the country, Enugu has remained one of the most peaceful states in the country. This is because of the people’s support and Ugwuanyi government’s massive investments in the area of security. Apart from rejigging and repositioning the state security apparatus for optimal performance, it was Ugwuanyi’s government that first introduced and commenced the Forest Guard model in the country with the recruitment and equipping of 1700 personnel to work as Forest Guards in the sttate. Other states across the country are implementing the same model today. The state, despite not being an oil producing state or ranks high in the monthly federation allocation has become a reference point in financial and human resources management, courtesy of Ugwuanyi’s prudence, fiscal discipline and transparency. Massive infrastructural development have been taken to the rural areas where people have been neglected and abandoned for years. That was how people of Amuri, a sleepy town close to Agbani in Nkanu West Council Area saw and are enjoying for the first time an asphalt road in more than100 years of their existence. Also ongoing now is 26.6 km Ukpabi-Nimbo-Ugbene AjimaEziani road in Uzo-Uwani Council Area. The road is the second asphalt road in the entire council area since its creation. Today, the list of rural and urban roads constructed and being constructed by Ugwuanyi’s administration is endless. Ugwuanyi administration has continued to maintain the basic infrastructure it met on ground and has at the same time built so many new ones to complement them. His government employed more street sweepers which has helped Enugu to remain the cleanest state in the country. Under Ugwuanyi’s government, Enugu State’s Internally Generated Revenues has improved significantly and the state has performed creditably well in the Ease of Doing Business. Not too long ago, his government was honoured with Institute of Chartered Accountant of Nigeria (ICAN) as the second most accountable state government in Nigeria. While some of Ugwuanyi’s colleagues often globetrot in search of foreign investors that never come, Ugwuanyi has only travelled to overseas twice since he became governor in 2015. He is always around in the state, doing his work diligently. Despite this, investors have been coming to invest in the state because of its peacefulness, Ugwuanyi’s remarkable achievements and good economic policies. Ugwuanyi by his leadership style which is result-driven has proven that leading a state without much resources is not a rocket science as some of his colleagues have always made Nigerians to believe. He is a governor of many feats and firsts. His popularity has soared and still soaring high within and outside the state. Testimonies of his goodness and sterling performance is overwhelming. Ezea, writes from Independence Layout Enugu NOTE: Interested readers should continue in the online edition on www.thisdaylive.com
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T H I S D AY ˾ ͯͷ˜ ͰͮͰͯ
METRO
…Your city life in print
Akpruka: Toasting to the Aba Boy at 66 Tunde Olusunle
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onday March 1, 2021, marked the public presentation of a book, “Made in Aba: A Life Of Coincidences” authored by Enyinnaya Abaribe, Senator Representing Abia South Senatorial Zone, and Minority Leader of the Senate of the Federal Republic. March 1 was also the 66th birthday of the author himself, which meant the event was a double-barelled event for a man I’ve known closely for over two decades now. His name preceded my meeting him. Yes, it was nearly two decades after I first heard about him, that we formally met. “Barry” was one of our more enigmatic “seniors” in the Department of Modern European Languages, in our foundation year at the University of Ilorin. We were in the university, in a free space quite alright, but the African in us recognised there were “egbons”, either in age or academic hierarchy. Barry was in his final year and we were just resuming. We took a special liking for him for a number of reasons. He was ever decked with dark sunglasses, his cigarette in hand and strutted around without a care in the world. He had a down-to-earth sense of humour, freely expressed, especially when he was in the company of close friends Barry, unknown to us, was an abbreviation of a slightly longer name. Here was the bearer of the original name in a sociocultural space, away from his traditional environment, whose name was the subject of constant mutilation and misspelling. The way to simplify the challenge of people who had problems with getting his name right, was to adopt an easier abbreviation. His full name was Onyekachi Abaribe. He told us then, that he was from what has now become the Old Imo State. Nigeria was a much better country those days, when tertiary institutions mirrored the true beauty of our multicultural diversity. The teaching staff and the student population were from all over the country, all over the world, enacting the very essence of the university as universitas. The primordial Nigerian University was truly a wholly, totally universal institution. They were not the religiously bigoted, ethnically nepotistic institutions which sadly, many of them now are. At free times in our hostels, between listening to music on our radio-cassettes and general gisting, we told stories of how we found our ways to Unilorin. In his own particular instance, we wondered: Why would he leave the universities in Nsukka, Calabar and Port Harcourt which were closer to him in Imo, for faraway Ilorin? He wouldn’t be the first person in his family to be that adventurous, he said. “Even my immediate senior brother, Enyi, attended the University of Benin,” he explained. The onset of democratic governance in Nigeria in 1999, would finally bring me face to face with Onyekachi’s brother. As a presidential aide, I moved around quite a bit with President Olusegun Obasanjo. I recall we were in Abia State in year 2000 on a state visit. At a reception hosted in Aba Stadium shortly on the President’s arrival, the master of ceremony while establishing the order of state protocol, announced the name of “His Excellency, Enyinnaya Harcourt Abaribe, Deputy Governor of Abia State,” as he listed dignitaries who were present at the ceremony. We were in the state box around and about our Principal and I managed to identify the
Abaribe
senior Abaribe, when he courtesied, at the mention of his name. On the sidelines of one of the President’s many engagements on that trip, I walked up to him and greeted him. We shook hands as I introduced myself to him: “Your Excellency, I am Tunde Olusunle and I work with the President. I’m just wondering if you know one Onyekachi Abaribe. He was our senior in the university.” Smiling and holding my hand still, he answered: “You must have attended the University of Ilorin then. Kachi was there.” And from that moment, we became friends. “Kachi is in the US,” he told me as we continued our banter. Enyinnaya Abaribe and I met more frequently thereafter. I followed his tribulations in the hands of his colleague and Governor of Abia State, Orji Uzor Kalu, very studiously and wondered why he was so unfairly treated. The gentleman I saw in Abaribe, was completely at variance with the monster that was being caricatured by Kalu’s spin doctors. In the weeks and months preceding his eventual resignation from office, we met a few times in Port Harcourt, as guests of Chief Onyema Ugochukwu, pioneer Chairman of the Niger Delta Development Commission, NDDC, who lived there at the time. It was both courageous and honourable the decision he took. With Ugochukwu as leader, Abaribe and like-minded concerned Abia statesmen including the late Chief Ojo Maduekwe (Minister of Culture and Tourism; Transport and Foreign Affairs at various times); Senator Onyedikachi Okoroafor; Col Austin Akobundu among others, came together and sought to refocus politics in Abia and wrest the state from the vice-grip of reactionary elements. In the run up to the 2007 general elections, Ugochukwu and Abaribe both won the gubernatorial and senatorial tickets of the Peoples’ Democratic Party, PDP, respectively. We met at the screening point of the Washington Dulles airport one of those summer holidays when I travelled with my family. He came in from Houston, to catch the Virgin Atlantic flight to London. My family and I were on the same vessel so we went through immigration and checked in together. We talked extensively about home and the teething challenges of democracy. He played with my kids and gave each of them a “high five.” We arrived Gatwick Airport, the next morning to the rudest shock of our trip. Our Lagos-bound connection would not be from Gatwick, but Heathrow! Here we were, my wife and I and three young children. And we had shopped ourselves to the full, such that we had over half a dozen boxes. We had to collect them all from the carousel; load them up on
trolleys; push them to the bus station outside the airport and load them into the luggage compartment of the bus. Abaribe could see my bewilderment and was particularly moved seeing my nine year old son, trying to help me out. My wife on the other hand was minding the other kids. “Young man,” he told my son, “Don’t worry, I will get this.” My amazement was palpable. Here was the deputy governor of a state in Nigeria, with the full apparatus of office offering to help my family manage our luggage. I was touched by his humility, his selflessness, his fellow feeling. Driving from the National Universities Commission, NUC, towards Gana Street one evening, my headlamps caught the profile of a gentleman who was properly dressed in an attire, consistent with the sartorial disposition of the South East of Nigeria. He was crossing over from Transcorp Hilton Hotel, to the adjacent gas station. It turned out it was Senator Enyinnaya Abaribe. As I closed up towards him, I wound down the car windows and called out to him “Alaasala,” his popular nickname within the Abia State political family, adapted from a traditional title conferred on him by the former monarch of Lagos, Oba Adeyinka Oyekan. He had already climbed the median on the road, but waited to see who it was who knew him so well and called his intimate name at this time of the day. “Tunde, na you,” he asked as I levelled up with him. “Where is your car, Your Excellency? Where are you going?” He explained that he came for a function in Transcorp and had a breakdown. He said he left his driver to fix the car and was going to take a taxi home. Abaribe was in his second term as Senator of the Federal Republic. He wore no airs at all. He’s just your regular guy. I offered to take him. We arrived his place and I expected he would be received by a battery of security operatives, the way they fawn over privileged people in our political ecosystem. “Where are the policemen attached to you, Your Excellency? They should be opening the door for you.” But Abaribe “disappointed” me. He reached for pocket and brought out the keys to his house. “If people in our position have to surround ourselves with security personnel even here in Abuja, what message are we sending to those who voted us in, what are we telling the diplomatic and international community? That even our nation’s capital city is unsafe?”, he asked me rhetorically. He opened the door of his house and said to me, “Tunde, thanks for your kindness. That’s why we conferred the title “Enyi’Oha on you in Abia,” he said as he laughed. Continuing he said: “Tomorrow is Saturday. Abeg come around so we can take the EPL games together. You know you and I are Arsenal fans,” he giggled as we waved to each other. During the Africa Cup of Nations football hosted by South Africa in 2013, Abaribe in his capacity as Chairman of the Senate Committee of Communications, led his colleagues in the parliament to the tournament. I was also there with about half a dozen football loving friends, in our private capacities. As the Super Eagles played their group games moving from one city to another, we kept encountering Abaribe and his colleagues, from the state box of one stadium to another. And after one solitary win and two drawn games at the competition, our morale as compatriots and football aficionados began drop. Like many others who felt unconvinced by the prospects of Nigeria in that competition, my friends and I headed back home to Nigeria. Dramatically, the Super Eagles won their quarter final and semi final matches. They were now to face the Stallions of Burkina Faso in the finals. The mood of the country went upbeat. Senator Abaribe called me a few
days before the finals played at the “Bird’s Nest” Stadium in Johannesburg: “Tunde, are you in Johannesburg or Abuja?” “I’m in Abuja, Your Excellency” I replied. “Our boys were not doing well so we came back home.” “Well, they’ve made it to the finals and I’m going to attend the event. Be my guest in Sandton, Johannesburg, if you make it back.” What other prompting did I need with such an invitation, especially when my good friend, Bimbo Daramola, then in the House of Representatives had gifted me a business class ticket back to Johannesburg? As Senator for the fourth consecutive term, Abaribe has built a solid, sturdy reputation for himself as a fearless, dogged, objective, hard-hitting, respectable parliamentarian and defender of the people. There was overwhelming consensus among his colleagues in the Senate, when he was unanimously appointed Senate Minority Leader, at the outset of the 9th Assembly of the upper parliament in 2019. Abaribe is the quintessential akpruka, resilient and tireless. Not for him the circuitous, roundaboutish meandering of some of his colleagues given to massaging and caressing the egos of their principals in the executive arm of government. Not for him unnecessary genuflections and gerrymandering. He says it as it is with unequalled comportment, with verifiable facts and figures. He has become something of a public defender, who sees the entire country and not Abia South Senatorial zone alone, or the South East for that matter as his primary constituency. His scholastic interventions and evidencebased contributions to parliamentary discourse is not a surprise to those who have known him over the years. To be sure, Abaribe began his working career as a lecturer in Economics in the erstwhile Bendel State University, Ekpoma, Edo State, which is now known as Ambrose Alli University. And he jettisoned work on his doctorate degree pursuit at the University of Benin, to explore the private sector. Even on short haul flights within the country, you will most probably find him reading a book. Not one to be gagged, he once described President Muhammadu Buhari as nepotistic, a “provincial” leader who has scant knowledge of the country he runs. He wondered why the President was more disposed to appointing only people from his own immediate sociocultural catchment. He decried the extrajudicial killings of some youths in Emene, Enugu State, during an altercation with security forces. At the height of the COVID-19 lockdown last year, he criticised the brutality and killings inflicted on people in the South East of the country, in the name of the enforcement of the lockdown. With the escalating national security situation characterised by unending insurgency in the North East, banditry and kidnapping in the North West, and the farmers versus herdsmen’s crisis in the North Central, Abaribe called on Buhari to resign. In his summation, since the President had run out of panaceas to the security situation, there was no justification for him to continue in the position he was voted into. Abaribe has been guest of the Department of State Services, DSS, on a number of occasions. Among others, he was remanded in custody for failing to produce in court for prosecution, Nnamdi Kanu, the self-styled leader of the Indigenous People Of Biafra, IPOB. And he remains unbending, unbroken. This is wishing Senator Enyinnaya Abaribe many happy returns of his special day in continuing altruistic service to our country. I salute you, Alaasala. t0MVTVOMF IPMET B EPDUPSBUF EFHSFF JO .FEJB "SUT GSPN UIF 6OJWFSTJUZ PG "CVKB
39
T H I S D AY ˾ ͯͷ˜ ͰͮͰͯ
POLSCOPE
áÓÞÒ ÎÎã ÎÓàáÜÓ ÏÎÎã˛ÙÎÓàáÜÓ̶ÞÒÓÝÎËãÖÓàÏ˛ÍÙט ͽ ͻ; ͻͽ;
Astrazeneca Vaccine : When a Cure is More Frightful than the Disease
Canticles….
New Security Chiefs: Will Anything Change ?
C
ome, you were among the people popping champagne 51 days ago when new service chiefs were appointed. You people were in such celebratory mood as if newly ordained messiahs have just been sent to Nigerians. See now, 51 days after. How far? Any regret popping those champagne? Haba! Calm down. By your on counting they have just done 50 or so days. It is too soon judging them. There are great prospects that things are gonna change. If I have more champagne, I shall pop them all. The former service chiefs had ran out of ides completely What do you mean by great prospects? Have you been following the scale of abductions in the last 20 days, particularly in Zamfara, Niger and Kaduna States? And pray, have you forgotten that all the service chiefs have been part of the fight against Boko Haram terrorists , banditry and kidnapping all along? So what is really new to them, such that they seem to be warming up to their new tasks in such slow pace?
Dr Ehanire
T
oo many conspiracy theories have hit the airwaves long before the Oxford Astrazenaca vaccine actuall got into Nigeria a fortnight ago. Many of the said theories are patently mischievous. Perhaps what gave potence to the theories was the rumour that COVID-19 itself was a mega design of some persons who are determined to either depopulate Africa or wipe out the black race altogether. According to the believers of this theory, when the Corona Virus did not do as much damage in killing as many Africans as expected, then the idea of using the vaccine to complete the assignment was resorted to. Just all kinds of weird thoughts and talks. Penultimate week, the Oxford Astrazeneca vaccine arrived, making Nigeria the third West African country to receive it, Ghana and Tog o having received it earlier. As at last Tuesday, just about 8,000 persons had been vaccinated out of the nearly four million vaccines that were brought. Few states like Lagos and Delta had made their own arrangements. But day-in day-out, there are reports of the harmful side effects of the vaccine. And this has raised so much concern in Nigeria, especially as many European countries have suspended the use of the vaccine citing alleged severe side effects like blood clotting, fever, nausea. headache and acute body pain. Countries like Spain, Netherlands, Norway, Germany, France, Italy, Austria. Iceland etc., have suspended the use of the vaccine. This growing doubt about the wholesomeness of the vaccine is in defiance of the running explanation of scientists and medical personnel that there has been no clinical connection between the use of the vaccine and the clotting of blood. Nigerian medics and medical practitioners as well some journalists have confirmed that there are indeed side effects except that “they do wear out in no time” and vary from person to person. To encourage Nigerians to take the vaccine, right from Mr President
through the Vice President to the ministers, and other public health officials , including governors et al, have had their taking the vaccines video-captured, so the public confidence in the vaccines are bolstered. But the suspension, if not rejection, of the vaccine, in some European countries have increased the nightmare of Nigerians on the safety of the vaccine. In fact , the fear of the astazeneca vaccine has become even more terrifying than the Coro Virus it is meant to immunize us from. Worse still, the scientific explanation that even after taking the vaccine, people should not only keep wearing face masks, observing social distance as well as sanitising our hands goes to vitiate strongly, the effect of the vaccines. So question is: if a vaccinated person will yet observe all the non-pharmaceutical precautions which an unvaccinated persons have to observe, then what is the essence of the vaccine? It is even more frightful when unconfirmed sources claim that even vaccinated persons are still liable to getting infected with the Corona virus. So, to what end is the vaccine indeed? Yet, in all of these fears and concerns, NAFDAC has raised the alarm of fake vaccine in circulation. If the authentic and confirmed vaccine is still generating doubts and fears among the Nigerian people, the entry of fake variations of the same vaccine will indeed be utmostly scary. Some persons are said to be ordering the vaccines online. What folly! Some Nigerians have raised the concern that out of the four types of vaccines so far approved by World Health organization (WHO), the Oxford Astrazeneca has the least potence and the worst side effects. And that is the one Nigeria settled for. The other approved vaccines and their potency are : Pfizer (95%), Moderna (94%) Johnson and Johnson (70%), while the one brought to Nigeria is Astrzeneca (62%). It is instructive that although huge money has been allocated for the procurement of the vaccine, the repots say Nigeria has not paid a dime for the vaccines, just as there are arrangements for more doses to be imported. Barring all the com-
plaints and concerns raised on the Astrazeneca vaccine, the nearly four million doses is like a drop in the ocean, given the over 200 million Nigerian population. If indeed, we would all need the vaccine to be assuredly safe, then the population that will remain unvaccinated after exhausting the first batch will indeed be a standing danger to and among themselves. Perhaps, one of the running reasons for global skepticism on the vaccines (not just Astrazeneca) is the speed of production. Many argue that it is somewhat suspicious that in just about a year, scientists have so quickly developed and tested the efficacy of the COVID 19 vaccine, whereas, humanity has been under the siege of other pandemics like cancer, HIV/AIDS etc., without a corresponding concern from world scientific bodies, and are thus aghast at the speed and devotion to carrying out all the requisite clinical trials that produced the COVID 19 vaccines. Even those (plebeians and elite alike) who do not quite believe the elimination theories point out that humanity should yet watch the effect and consequences of the various vaccines before embracing it wholeheartedly, after all, the same scientists had declared that the Corona Virus is a strange affliction to humanity. Matters are not helped by the fact that neither the Ministry of Health nor the National Council for Disease Control (NCDC) has done enough to either educate Nigerians or re-assure them that the vaccines will do them good and not harm. The running belief in some quarters that Corona Virus is a “Big man disease” has to be sufficiently dismantled by taking the vaccine to the grass root. Seeing only Mr President, governors and ministers and such select powerful Nigerians take the vaccine jabs go a long way in reinforcing the mendacious belief that indeed, the pandemic lives only among the rich and influential members of the society. Let the ordinary market women, commercial drivers, artisans etc., take the vaccine. It is only when this is done will the fear of the vaccine not be more than the fear of the disease itself
You have to be fair to the new guys on the bloc. If you have followed their activities, they have been going round the various divisions across the country, motivating the troop, soliciting the cooperation of all stakeholders whilst mapping out their own strategies. So be calm. I am sure that they will soon hit the landscape with a bang and we shall be all impressed. Do you realize that in Kaduna State alone, there have been three major abduction of school children within one week? Do you realise that the malaise has even spread to the South West, where some students were abducted in Olabisi Onabanjo University, Ago Iwoye, Ogun State? Do you realise that apart from the celebrated case of Kagara students’abduction in Niger State, that there have been numerous other abductions in the state? And you say there is prospect? Can’t you see that the system is being over run altogether? Or don’t you know that the morning tells the day? Calm down! The new service chiefs are not military neophytes. They are coming with new zest and zeal. Do not forget that security business is everybody’s business. We all should be involved by sharing valuable information on things we see and suspect. Did you not hear of how under these new kids on the bloc Marte was recovered from Boko Haram? Did you not hear of how the troops recently routed some insurgents in Borno, killing some 41 of them, rescued 60 captives and even recovered a cache of arms and ammunition? Can’t you see some light at the end of the tunnel? But we are still in the tunnel! We are getting out of the tunnel soon How soon is soon? Take it easy. Rome was not built in a day. It will not just happen overnight. It takes careful planning and the determination of everybody to end this terrible affliction on our people. So I believe the new service chiefs are working out their own strategies, developing a strong base in intelligence gathering. But didn’t they say that the abduction of the over 300 girls at the Jangebe school, in Zamfara would be the last? How many others have we had since that time? Get your facts right. It was not the Service Chiefs who said that would be the last abduction, but the presidency. So don’t ascribe falsehood to the new guys. Don’t forget that the problem has
Gen Lucky Irabor
been on ground and over the years, the terrorists and bandits have only managed to wax even stronger. But by the Grace of God, they will be dismantled and eliminated completely. Just a little patience and co-operation of all will do the magic. But they said there are not only saboteurs among the soldiers, that even the huge money allotted for the purchase of arms is missing. So you see that defeating the bad guys requires more than mere cooperation of all. The will power of government to deal with the issues is important. For instance, how come since the order to shoot on sight was given against those carrying AK 47 illegally, nobody has been shot? Or what are the abductors carrying while abducting these school children? Or why has that man called Sheikh Gumi not been arrested since he knows so much about the CV and operational modus of the bandits? Why would such a high profile suspect be left unarrested? Is he not a threat to the efforts of the new guys? Don’t you know that such persons could be frustrating the plans of government since his crusade for amnesty for bandits did not fly? He could be informant to the bandits. And lest I forget, did the governor of Niger State, Gov Sani Bello not eventually confess that they have been paying money to fake repentant bandits who in turn use the money so paid to acquire more and more sophisticated weapons? The federal government, officially does not approve of paying ransom for kidnapped victims as it encourages the crime Ok, so unofficially, they willy-nilly pay, right? And do you know that apart from banditry and kidnapping, there is a return of armed robbery now? People are being robbed in their homes and on the highways. All these crimes were no longer part of our narratives more ten years ago. But here we are, confronted by them again. Look, there are many factors fuelling these insecurities. The economy is one of them. Did you not hear that in the last six months, 23.18 million Nigerians have lost their jobs and remained unemployed? Did you not hear that inflation is now at 17.33%? Don’t you know the corollary effect of these economic indices on the society? Without much ado. I can tell you the hardship in the land is breeding the return of armed robbery. Things are tough Since you have been defending government and its appointees, I thought you were going to also deny the economic crunch people are going through. Yea, the problems facing us are complex. We cannot deny that. What is important is that there is a resolve and a will to tackle these issues. And I believe that with the new service chiefs, slowly but surely, we shall emerge victorious.
T H I S D AY ˾ ˜ MARCH 19, 2021
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BUSINESS/MONEYGUIDE
Emefiele, Ahmad Push for More Women in Leadership Positions Obinna Chima The Governor, Central Bank of Nigeria (CBN), Mr. Godwin Emefiele has challenged stakeholders in private and public organisations to ensure all-round gender development and equal opportunities, in order to increase the number of women in leadership positions in Nigeria and across the world. Emefiele said this yesterday, during a commemorative webinar hosted by the Bank’s Deputy Governor in charge of Financial System Stability, Mrs. Aishah Ahmad, as part of activities to mark the 2021 International Women’s Day with the theme: “Women in Leadership: Achieving an Equal future in a COVID-19 World”. Declaring open the webinar that featured a paper titled: “Positioning Women for Leadership in a Changing World,” Emefiele restated the central bank’s commitment to continually promote
gender diversity in the workplace, empower women and increase their active participation in the economy. According to Emefiele, the CBN recognised the potential of female leaders in different organisations and the Nigerian economy at large, hence it ensured equal opportunities for both male and female staff across every cadre in the Bank. He also cited the CBN/ Bankers’ Committee affirmative action on 40 per cent and 30 per cent representation for women in top management and boards of banks. According to a statement, while identifying unequal access to education, healthcare, finance and cultural barriers with gender stereotyping as some of the barriers limiting the participation of women in leadership, the CBN Governor also listed policies of the Bank that had afforded women access to finance to improve their lot. Emefiele, therefore stressed
the need to have appropriate policies in place in addition to making the right investments in programmes and services to promote women’s leadership and gender parity in order to enable them to contribute to the economy. This is even as he noted that there was overwhelming evidence that organisations with a high level of female participation fared better than others. In her keynote address, the Executive Resident at the University of Oxford and former Treasurer and Vice President at the World Bank, Arunma Otteh, highlighted the critical roles of leadership occupied by women, noting that women were key to societal advancement. Making a business case for gender equity, Otteh noted that women economics was “SMART” economics, citing statistics that indicate women re-invest up to 90 per cent of their resources into their respective families and societies
SON Issues Ultimatum to Steel Manufacturers, Distributors over Standards In a bid to ensure and improve lives through enforcing standards, the Director General, Standards Organisation of Nigeria (SON), Mallam Farouk Salim, yesterday in a meeting with steel manufacturers and steel distributors, issued a three-month ultimatum on the need to clear out of the markets substandard steel bars. Speaking during the emergency meeting in Lagos, Farouk appealed to all steel manufacturers and marketers in the country to put their house in order as failure to comply will result in prosecutions and serious jail time for offenders. A statement quoted the SON boss to have cited the recent spate of building collapse which had claimed hundreds of lives saying it is a big blow
on the nation and especially the construction industry which the steel sector falls under. According to him the consequences of the disasters had raised concerns and the onus was always on SON to get to the root cause of the issue with the view to finding a lasting solution. He further advised that moving forward both the manufacturers and distributors have been given two months to form associations for self regulation and an organised way of articulating industry challenges to ensure strict compliance and also root amongst their members those engaging in such inimical acts . According to him, the African Continental Free Trade Agreement which has legally
taken effect from January this year means our borders are be open and any substandard products sold may be rejected thereby hindering economic growth The DG however, reaffirmed SON’s mandate to foster trade and economic growth and not impede it stating that SON would not allow any dubious business persons to destroy lives, property and scarce resources. The Director General in therefore craved the indulgence of the steel industry to cooperate with SON so that wealth and value can be created without infractions as he said “if you work with me I work with you but if you work against me the law will be upheld to the letter”
Ekpo Advises FG to Embrace Developmental Economic Philosophy Dike Onwuamaeze The federal government has been advised to embrace developmental state economic philosophy that would concentrate on poverty reduction for the benefit of every Nigerian citizen. This advice was given by a Professor of Economics and Public Policy, University of Uyo, Prof. Akpan Ekpo, in a chat with THISDAY where he stated that the current economic framework of the government cannot achieve
President Muhammadu Buhari’s desired objective of lifting 100 million Nigerians out of poverty. Ekpo, who is also the Chairman, Foundation for Economic Research and Training, stated that, “the trickle-down economics the country is practicing could not reduce and eradicate poverty in a record time and leapfrog the country into prosperity.” “But a developmental state economic philosophy will concentrate on poverty eradication for the benefit of us all and enable
governments to perceive poverty as a priority and a development challenge and tackle it headlong and not as an appendage to development programmes,” he added. The former director general of the West African Institute of Financial and Economic Management said poverty in Nigeria was getting worse due to many factors, such as, “rising unemployment, especially among youths, is a major contributing factor to poverty in recent times.”
Awosika Seeks Improved Work Environments for Women Nume Ekeghe The Chairman of FirstBank of Nigeria Limited, Mrs. Ibukun Awosika, has called on Nigerian businesses to create structured and more conducive environments that would keep women in workforce especially those who are discouraged after child bearing years. She said this yesterday at a webinar organised by the United Nations (UN) and Women in
Successful Careers (WISCAR), in commemoration of International Women’s Month (IWM) 2021, where over 100 women converged to discuss, ‘An Inter-generational Dialogue on Women’s Leadership in the Private Sector.’ Awoshika said: “We need to build systems that keep women at work. We need to build systems that allows women to play to win at all fronts. “One thing is clear that if we want to build back smartly
post Covid-19 and we want to build beyond the pandemic in a resilient and sustainable manner, we cannot leave women out because women represent smart economics. “It is a known proven business case that women are good business. Having presentation of women in our decision process makes economic sense so you do not have blind spots. We must find smart ways of keeping women at work.”
MARKET INDICATORS MONEY AND CREDIT STATISTICS
(MILLION NAIRA)
JULY 2020 Money Supply (M3)
36,822,751.47
-- CBN Bills Held by Money Holding Sectors
3,476,121.25
Money Supply (M2)
33,346,630.22
-- Quasi Money
120,764,479.02
-- Narrow Money (M1)
12,582,151.19
---- Currency Outside Banks
2,002,026.89
---- Demand Deposits
10,580,124.31
Net Foreign Assets (NFA)
7,637,137.23
Net Domestic Assets(NDA)
29,185,614.24
-- Net Domestic Credit (NDC)
39,711,115.95
---- Credit to Government (Net)
19,521,851.08
---- Memo: Credit to Govt. (Net) less FMA
0.00
---- Memo: Fed. and Mirror Accounts (FMA)
0.00
---- Credit to Private Sector (CPS)
-130,189,264.87
--Other Assets Net
3,472,017.70
Reserve Money (Base Money
13,421,827.07
--Currency in Circulation
2,395,917.03
--Banks Reserves --Special Intervention Reserves
11,025,910.04 317,234.17
˾ ÙßÜÍÏ ̋
Money Market Indicators (in Percentage) Month
March 2018
Inter-Bank Call Rate
15.16
Minimum Rediscount Rate (MRR) Monetary Policy Rate (MPR)
14.00
Treasury Bill Rate
11.84
Savings Deposit Rate
4.07
1 Month Deposit Rate
8.82
3 Months Deposit Rate
9.72
6 Months Deposit Rate
10.93
12 Months Deposit Rate
10.21
Prime Lending rate
17.35
Maximum Lending Rate
31.55
˾ ÙØÏÞËÜã ÙÖÓÍã ËÞÏ ̋ ͯͱϱ
OPEC DAILY BASKET PRICE AS AT WEDNESDAY, 17 MARCH 2021
The price of OPEC basket of thirteen crudes stood at $66.76 a barrel on Wednesday, compared with $66.89 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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T H I S D AY ˾ ˜ ͯͷ˜ ͰͮͰͯ
DMO Lists N162.557 Billion Sovereign Sukuk on NSE Goddy Egene The Debt Management Office (DMO) yesterday listed the N162.557 billion, 7-year, FGN Ijarah Sukuk with a rate of 11.2 per cent on the floor of the Nigerian Exchange (NGX) Limited. The third Sovereign Sukuk was issued on June 16, 2020, and will finance the rehabilitation and construction of key economic road
projects across the six geopolitical zones in the country. With this listing, members of the general public who invested in the 2020 Sukuk bonds can now sell their investments and those who wish to invest in Sukuk can now do so. Speaking about the listing of the third Sovereign Sukuk, the Director-General, DMO, Ms. Patience Oniha said: “We are excited that the trading of
P R I C E S MAIN BOARD
F O R DEALS
this Sukuk is now permissible having fulfilled the condition for listing stipulated by the Financial Regulatory Advisory Council of Experts (FRACE) of the Central Bank of Nigeria (CBN). “The FGN Sukuk may only be listed for trading on relevant exchanges after the commencement of works on the road project for the construction of the Sukuk assets. “This is in order to create a pool of assets consisting of
S E C U R I T I E S
MARKET PRICE
QUANTITY TRADED
VALUE TRADED ( N )
non-financial and financial assets that could be freely traded while avoiding the prohibition of dealing in interest-based transactions arising out of sale of debt and exchange of currency not at par.” NGX Limited said the listing of the Sovereign Sukuk on the bourse would provide exit opportunity for existing investors and further deepen the Nigerian capital market, particularly, the relatively nascent Sukuk market.
T R A D E D MAIN BOARD
A S
“The issuance and subsequent listing of the Sovereign Sukuk on the NGX underscore the federal government’s drive for the development of critical infrastructure needed to unlock economic growth, by leveraging innovative and cost-effective financing structures. “The exchange continues to deliver on its commitment to provide a platform for issuers and investors to meet their invest-
O F
ment objectives. By enhancing access to the federal government and the private sector, NGX has promoted and supported the growth of the debt market in Nigeria with listings worth over N2.6 trillion in 2020,” the exchange said. Meanwhile, the NSE All-Share Index (ASI) rose by 0.54 per cent to close higher at 38,914.84, while market capitalisation added N109.2 billion to be at 20.4 trillion.
1 8 / 0 3 / 2 0 2 1 DEALS
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FRIDAY, MARCH 19, 2021 ˾ T H I S D AY
MARKET NEWS
MTN Nigeria Raises N100bn Commercial Paper for working Capital Goddy Egene
Plc Series III and IV Commercial Paper (CP) Issuance, under its N200 billion CP Issuance
MTN Nigeria Communications A Mutual fund (Unit Trust) is an investment vehicle managed by a SEC (Securities and Exchange Commission) registered Fund Manager. Investors with similar objectives buy units of the Fund so that the Fund Manager can buy securities that willl generate their desired return. An ETF (Exchange Traded Fund) is a type of fund which owns the assets (shares of stock, bonds, oil futures, gold bars, foreign currency, etc.) and divides ownership of those assets into shares. Investors can buy these ‘shares’ on the
Programme will close today. The company is targeting to raise about N100 billion
floor of the Nigerian Stock Exchange. A REIT (Real Estate Investment Trust) is an investment vehicle that allows both small and large investors to part-own real estate ventures (eg. Offices, Houses, Hospitals) in proportion to their investments. The assets are divided into shares that are traded on the Nigerian Stock Exchange. GUIDE TO DATA: Date: All fund prices are quoted in Naira as at 17Mar-2021, unless otherwise stated.
through the CP and the proceeds from the offer will be applied towards MTN
Nigeria’s working capital and general corporate purposes. MTN Nigeria is the leading
telecommunications operator in the largest telecoms market in Africa.
Offer price: The price at which units of a trust or ETF are bought by investors. Bid Price: The price at which Investors redeem (sell) units of a trust or ETF. Yield/Total Return: Denotes the total return an investor would have earned on his investment. Money Market Funds report Yield while others report Year- to-date Total Return. NAV: Is value per share of the real estate assets held by a REIT on a specific date.
DAILY PRICE LIST FOR MUTUAL FUNDS, REITS and ETFS MUTUAL FUNDS / UNIT TRUSTS AFRINVEST ASSET MANAGEMENT LTD aaml@afrinvest.com Web: www.afrinvest.com; Tel: +234 818 885 6757 Fund Name Bid Price Offer Price Yield / T-Rtn Afrinvest Equity Fund 149.58 151.03 -8.13% Afrinvest Plutus Fund 100.00 100.00 3.74% Nigeria International Debt Fund 352.01 352.01 -11.57% Afrinvest Dollar Fund 110.21 110.21 -1.67% 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 1.01 1.03 12.75% ACAP Income Funds 0.65 0.65 -11.06% 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 2.20% AIICO Balanced Fund 3.22 3.38 -9.07% 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 17.88 18.42 -1.43% ARM Discovery Balanced Fund 399.17 411.21 -0.30% ARM Ethical Fund 35.32 36.39 4.78% ARM Eurobond Fund ($) 1.20 1.20 -1.87% ARM Fixed Income Fund 1.04 1.05 -6.88% ARM Money Market Fund 1.00 1.00 1.37% 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 103.11 103.11 1.38% 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 118.40 119.23 -6.16% AXA Mansard Money Market Fund 1.00 1.00 2.21% CAPITAL EXPRESS ASSET AND TRUST LIMITED info@capitalexpressassetandtrust.com Web: www.capitalexpressassetandtrust.com ; Tel: +234 803 307 5048 Fund Name Bid Price Offer Price Yield / T-Rtn CEAT Fixed Income Fund 2.05 2.05 -24.67% Capital Express Balanced Fund(Formerly: Union Trustees Mixed Fund) 2.14 2.18 -23.12% CHAPELHILL DENHAM MANAGEMENT LTD investmentmanagement@chapelhilldenham.com Web: www.chapelhilldenham.com, Tel: +234 461 0691 Fund Name Bid Price Offer Price Yield / T-Rtn Chapelhill Denham Money Market Fund 100.00 100.00 3.02% Paramount Equity Fund 14.99 15.27 -6.26% Women's Investment Fund 128.31 129.69 -3.62% 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 2.04% Cordros Milestone Fund 2023 125.71 126.56 Cordros Milestone Fund 2028 N/A N/A Cordros Dollar Fund ($) 110.39 110.39 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 2.00% EDC Nigeria Money Market Fund Class B 1,000,000.00 1,000,000.00 1.98% EDC Nigeria Fixed Income Fund 1,161.80 1,165.47 -3.15% 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 N/A N/A N/A FBN Balanced Fund 180.23 181.48 -3.97% FBN Halal Fund 110.25 110.25 4.62% FBN Money Market Fund 100.00 100.00 2.26% FBN Nigeria Eurobond (USD) Fund - Institutional N/A N/A N/A FBN Nigeria Eurobond (USD) Fund - Retail 123.85 123.85 2.81% FBN Smart Beta Equity Fund 145.16 147.02 -3.98% 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 1.00 1.00 1.31% Legacy Debt Fund 3.90 3.90 0.87% Legacy Equity Fund 1.52 1.55 -0.30% Legacy USD Bond Fund 1.15 1.15 1.02% FSDH ASSET MANAGEMENT LTD coralfunds@fsdhgroup.com Web: www.fsdhaml.com; Tel: 01-270 4884-5; 01-280 9740-1 Fund Name Bid Price Offer Price Yield / T-Rtn Coral Growth Fund N/A N/A N/A Coral Income Fund N/A N/A N/A FSDH Treasury Bills Fund N/A N/A N/A
GREENWICH ASSET MANAGEMENT LIMITED assetmanagement@gtlgroup.com Web: www.gtlgroup.com ; Tel: +234 1 4619261-2 Fund Name Bid Price Offer Price Yield / T-Rtn Greenwich Plus Money Market Fund 100.00 100.00 0.96% Nigeria Entertainment Fund 126.80 127.34 17.83% 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 1.85% Vantage Balanced Fund 2.64 2.70 15.08% Vantage Guaranteed Income Fund 1.00 1.00 4.50% Kedari Investment Fund (KIF) 153.16 153.54 -1.47% Vantage Dollar Fund (VDF) - June Year End 1.08 1.08 5.16% 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 1.36 1.38 -0.69% Lotus Halal Fixed Income Fund 1,143.01 1,143.01 1.74% 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 1.59 1.62 7.49% PACAM Fixed Income Fund 12.24 12.36 0.04% PACAM Money Market Fund 10.00 10.00 1.74% PACAM Equity Fund 1.56 1.57 -1.49% PACAM EuroBond Fund 109.58 112.29 0.16% 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 125.66 127.80 4.22% 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 3.19% 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 N/A N/A N/A Stanbic IBTC Bond Fund N/A N/A N/A Stanbic IBTC Ethical Fund N/A N/A N/A Stanbic IBTC Guaranteed Investment Fund N/A N/A N/A Stanbic IBTC Iman Fund N/A N/A N/A Stanbic IBTC Money Market Fund N/A N/A N/A Stanbic IBTC Nigerian Equity Fund N/A N/A N/A Stanbic IBTC Dollar Fund (USD) N/A N/A N/A Stanbic IBTC Shariah Fixed Income Fund N/A N/A N/A 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 1.30 1.32 -5.04% United Capital Bond Fund 1.91 1.91 1.19% United Capital Equity Fund 0.87 0.89 0.05% United Capital Money Market Fund 1.00 1.00 3.53% United Capital Eurobond Fund 118.58 118.58 1.28% United Capital Wealth for Women Fund 1.05 1.06 -3.43% United capital Sukuk Fund 1.02 1.02 2.41% 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 11.86 11.96 -0.08% Zenith Ethical Fund 13.21 13.32 8.10% Zenith Income Fund 24.21 24.21 0.99% Zenith Money Market Fund 1.00 1.00 2.01%
REITS NAV Per Share
Yield / T-Rtn
122.01 52.85
1.05% 0.86%
Bid Price
Offer Price
Yield / T-Rtn
12.42 113.50 91.81
12.52 113.50 93.53
-6.02% -6.77% -7.61%
Fund Name SFS Skye Shelter Fund Union Homes REIT
EXCHANGE TRADED FUNDS Fund Name Lotus Halal Equity Exchange Traded Fund SIAML Pension ETF 40 Stanbic IBTC ETF 30 Fund
VETIVA FUND MANAGERS LTD Web: www.vetiva.com; Tel: +234 1 453 0697 Fund Name Vetiva Banking Exchange Traded Fund Vetiva Consumer Goods Exchange Traded Fund Vetiva Griffin 30 Exchange Traded Fund Vetiva Money Market Fund Vetiva Industrial Goods Exchange Traded Fund Vetiva S&P Nigeria Sovereign Bond Exchange Traded Fund
funds@vetiva.com Bid Price
Offer Price
Yield / T-Rtn
3.48 5.29 16.55 1.00 19.46 175.06
3.52 5.37 16.65 1.00 19.66 177.06
-7.50% -7.02% 1.27% 0.40% -5.13% -20.64%
NAV Per Share
Yield / T-Rtn
107.40
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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NEWS
Atiku: $1.5bn for PH Refinery Rehabilitation Prohibitive Says Shell sold better one for $1.2bn
Chuks Okocha in Abuja Former Vice President Atiku Abubakar has faulted the $1.5 billion vote by the federal government to rehabilitate the Port Harcourt Refinery, describing the cost as prohibitive and suspicious. According to him, given the fact that the Royal Dutch Shell Plc sold the Martinez Refinery, a more profitable refinery in the United States, for $1.2 billion in 2020, the $1.5 billion to rehabilitate the Port Harcourt refinery is worrisome. He also expressed concern about Nigeria's debt stock that has risen from N12 trillion at the inception of the Buhari administration in 2015 to N32.9 trillion. The Federal Executive Council (FEC) had on Wednesday approved $1.5 billion for the rehabilitation
of the Port Harcourt refinery. The FEC approved the amount at its virtual meeting presided over by President Muhammadu Buhari. But Atiku in a statement yesterday, said the approval was suspicious. "That Nigeria’s economy is in dire straits is a fact well known both to the nation and to our international partners. Unemployment has just reached an all-time high of 33 per cent, while inflation has hit another record high of 17 per cent," he said. He stated that at this critical period, Nigeria must be prudent with the use of its revenue. He added that if Nigeria must borrow, it must do so with the utmost responsibility and discipline. Atiku described the approval of $1.5billion for the refinery rehabilitation
as “an unwise use of scarce funds at this critical juncture for an assortment of reasons." "First of all, our refineries have been loss-making for multiple years, and indeed, it is questionable wisdom to throw good money after bad. At other times, I have counselled that the best course of action would be to privatise our refineries to be run more effectively and efficiently," he added. According to him, the rehabilitation cost appears prohibitive, especially as Shell Petroleum last year sold its Martinez Refinery in California, which is of a similar size as the Port
Harcourt refinery, for $1.2 billion. "We must bear in mind that the Shell Martinez Refinery is more profitable than the Port Harcourt Refinery," he added. Equilon Enterprises, on behalf of Shell Oil Products of the United States, had in February 2020 concluded the $1.2 billion divestment of the Martinez Refinery in California to PBF Energy subsidiary PBF Holding. According to agency reports, Martinez is a high-conversion refinery that produces petrol, diesel and jet fuel. Crude supply and product offtake agreements
were also part of the deal signed by Shell and PBF, to ensure that the former’s customers will continue to have access to quality Shell-branded fuels. The refinery has a 157,000bpd refining capacity. The deal comprised the sale of Shell’s on-site logistics assets, including a deepwater marine facility, product distribution terminals, and refinery crude and product storage facilities. On the cost of Shell’s refinery and the amount budgeted for Port Harcourt Refinery, Atiku said: "Given this discrepancy, might we ask if there was a public
tender before this cost was announced? Was due diligence performed because we are certainly not getting value for money? Not by a long stretch. "We cannot as a nation expects to make economic progress if we continue to fund inefficiency and we are going too deep into the debt trap for unnecessarily overpriced projects. "Our national debt has grown from N12 trillion in 2015 to N32.9 trillion today. Indeed that is shocking enough to cause us to be more prudent in the way we commit future generations into the bondage of bonds and debt."
GTBank Records N238bn Profit, to Pay N2.70 Final Dividend Goddy Egene Guaranty Trust Bank Plc yesterday announced a final dividend of N2.70 dividend per share for the year ended December 31, 2020, following the release of its audited results for the year. The dividend, added to the 30 kobo interim dividend paid last year, brings the total dividend to N3.00 per share. According to the results, GTBank recorded increases in all performance indicators despite the challenging operating environment that prevailed in 2020. It posted gross earnings of N455.229 billion in 2020, showing an increase of 4.6 per cent from N435.307 billion recorded in 2019. Net interest income grew by 9.6 per cent from N231.363 billion to N253.668 billion, while net fee and commission income fell from N59.444 billion to N46.935 billion. Loan impairment charges soared by 298 per cent to N19.573 billion, from N4.912 billion in 2019. Personnel expenses witnessed a marginal increase from N37.284 billion to N37.606 billion, while other expenses rose by 14.2 per cent from N68.879 billion to N78.677 billion. Profit before tax rose to N238.095 billion, indicating a growth of 2.8 per cent compared with N231.708 billion in 2019. Profit after tax grew by 2.3 per cent to N201.439 billion from N196.708 billion in 2019. A further breakdown of
the results showed that GTBank grew its deposits from N2.532 trillion to N3.509 trillion, while loans and advances improved from N1.501 trillion to N1.662 trillion, The Group Managing Director/CEO of GTBank, Mr. Segun Agbaje, had last November said the continued resilient performance of the bank despite the headwinds was due to the positioning of its balance sheet to cope with the economic realities. While speaking on the third quarter result when the bank posted N167 billion, Agbaje had said: “The result is a reflection of how we have appropriately positioned our balance sheet to cope with current economic realities and the challenging business environment. It is also a testament to the enduring loyalty of our customers, the hard work and dedication of our staff and the unwavering support we continue to enjoy from all our stakeholders in our drive to deliver best-in-class financial services and superior and sustainable returns.” He had assured stakeholders that the bank would continue to build on its commitment to enriching lives by leveraging its digital-first customercentric strategy to improve customer experience and maintain a high standard in service delivery and going beyond banking to create and drive innovative financial solutions that add value to customers' lives.
PROMOTING BUSINESS... L-R: President, Nigeria-Egypt Business Council, Mr. Muhammad Lere; Egyptian Ambassador to Nigeria, Ambassador Ihab Awad; Nigerian Ambassador-Designate to Egypt, Ambassador Nura Rimi; and Principal Partner, Adamu Ahmed Ibrahim &Co, Mr. Dahiru Ibrahim, after a meeting of the council in Abuja…yesterday
Parents of 39 Abducted Kaduna Students Protest, Demand their Release John Shiklam in Kaduna Parents of the 39 abducted students of the Federal College of Forestry Mechanisation, Afaka, Kaduna, yesterday staged a protest, demanding the release of their children. The protest took place at the school premises located along Airport road in Kaduna. Some of the students of the institution also joined in the protest in solidarity for their colleagues, who have been in captivity for the past seven days. Gunmen had invaded the school last Thursday at about 11:30 pm, kidnapping
39 students. The protesters carried a banner with photos of all the abducted students as well as placards demanding the release of the students. They also offered prayers in the church and mosque located within the school for divine intervention from God. Some of the parents, who spoke in an interview, lamented that since the abduction, they had not heard any information from the government and the school authorities about efforts being made to free their children. One of the parents, Mr. Sunday Musa whose
daughter is among the abducted students, urged the government to do everything possible to free the students. “We are asking the government to do everything possible so that our children will be released by the bandits. “Today is one week since the bandits abducted them. They have been in the bush since and you can imagine the trauma they are going through! “We don't know what is happening; the government and the school authorities have not said anything. “We are very worried. We are begging the bandits to
release our children”, Musa said. Also speaking, another parent, Mr. Abdullahi Tumburke, asked the bandits to release the students. He urged the government to step up efforts to free the students. Tumburke said the protest will hold on a daily basis until the students are released. The spokesman of the Kaduna State Police Command, Mr. Mohammad Jalige, did not respond to telephone calls when contacted to speak on the efforts being made to free the students.
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Gunmen Kill Soldiers, Policemen in Anambra Bandits kill inspector, abduct three in Kaduna suburb John Shiklam in Kaduna and David-Chyddy Eleke in Awka Unknown gunmen have reportedly killed unspecified number of policemen and soldiers in different locations in Anambra State. This is coming as bandits on Wednesday invaded Ungwa Waziri, Karji, a suburb of Kaduna metropolis, killing a police inspector and abducting three residents of the area. The incidents in Anambra State occurred yesterday, sources said. While the policemen were said to have been killed in Neni, Anaocha Local Government Area at a checkpoint, the soldiers were killed at an outpost in Awkuzu, Oyi Local Government Area, both of Anambra State. Sources who spoke to THISDAY said the gunmen also set ablaze a police van in Neni, and carted away arms belonging to the late policemen, while in Awkuzu, the felled soldiers also lost their weapons
to the attackers. Other circumstances surrounding the attack, including the identity of the attackers were yet to be ascertained as at the time of filing this report. The spokesperson for Anambra State Police Command, DSP Toochukwu Ikenga, who spoke with THISDAY, said the command had received the report and was working to unravel the circumstances surrounding the incidents. “We are still working and trailing the news; I hope to get back to you soon, when the details are complete,” he said. In a related development, bandits on Wednesday invaded Ungwa Waziri, Karji, a suburb of Kaduna metropolis, killing a police inspector and abducting three residents of the area. The attack was said to have occurred at about 10:30pm in the area where many off -campus students of the Kaduna State University (KASU) and the Kaduna Polytechnic are residents. Two of those abducted are
Insecurity: Nigeria to Take Delivery of Six Fighter Jets in July Deji Elumoye in Abuja The move by the federal government to fight insecurity, especially the Boko Haram insurgency in the North-east will receive a boost as the country will take delivery of six Super Tucano jets in July from Georgia in the United States. This was disclosed yesterday by the Media Assistant to the President, Mallam Garba Shehu, who stated that six of the 12 Super Tucanos fighter jets ordered by the federal government will arrive Nigerian shores by mid-July,2021. Shehu, in his verified twitter handle, added that the remaining six fighter jets will be delivered at a later date while 14 Nigerian pilots are currently undergoing training at Moody Air Force Base also in Georgia. He explained that the six
Super Tucanos are now being prepared for final delivery saying “the Super Tucanos came off the production line in Jacksonville Florida and are now being equipped and flight- tested. “Nigerian pilots and maintenance personnel are training on these planes. Currently, the construction is ongoing, which will house the aircraft. The Air-GroundIntegration school is the training hub on targeting and minimisation of civilian casualties”. The presidential spokesman further said: “At present, five Nigerian Super Tucanos are at Moody AFB in Georgia for pilot and maintainer training. The two companies released images of the sixth aircraft, which also will be flown to Moody, in a jungle camouflage scheme”.
Osinbajo Canvasses PPP Approach to Address Nigeria’s Infrastructural Deficit Deji Elumoye in Abuja Vice President Yemi Osinbajo has stressed that the only way to effectively address the massive infrastructural deficit that the country faces is by Public-Private Partnership (PPP) arrangement in one form or the other. Osinbajo stated this yesterday at the opening of a two-day retreat of the National Council on Privatisation (NCP), to deliberate the proposed amendment of the Public Enterprises (Privatisation and Commercialisation) Act 1999. Citing statistics from Nigerian Integrated Infrastructure Master plan (NIIMP) and the Economic Recovery and Growth Plan (ERGP) 2017-2020, he noted that Nigeria will require at least $2.3 trillion over the next 30 years to bridge this gap. According to him, ‘’the review of budgetary allocation
for capital expenditure even over the past decade will show that government resources are completely insufficient for this purpose. While government can take either commercial or concessionary loans for infrastructure development, this is an additional burden on a usually considerably leveraged balance sheet. ‘’There is a large pool of investable funds from both local and international investors for the development and maintenance of infrastructure. But these are only accessible where there is a business case to be made for developing public infrastructure. So, for both institutional and individual investors, there is far more comfort with lending or with equity participation where a private sector entity partners with a public authority owner of the infrastructure.”
said to be female students of the KASU. A resident in the community said the hoodlums stormed the community at about 10:30pm in large numbers and were shooting sporadically. He said, “they have been disturbing us for a long time and some people have even
relocated to other places”, he said. He said when the hoodlums came to the community, “We immediately turned off our generators and went into hiding. The bandits were shooting sporadically. “They went to a house, as they were forcing the house
opened, a policeman, Inspector John Bello, a neighbour to the house that was being forced opened, sneaked out of his house. “He was riding his motorcycle, but some of the bandits who were hiding under a mango tree, shot him and he died on the spot.”
He said the bandits later moved to a compound housing some students of the KASU and made away with two females and one male. The spokesman of the Kaduna State Police Command, Mohammad Jalige, did not respond to telephone calls when contacted.
DEEPENING DEMOCRACY…
L-R: Members of the Ogun State Independent Electoral Commission (OGSIEC), Mr. Omolaja Tajudeen; Mrs. Abosede Onasanya; Chairman of OGSIEC, Mr. Babatunde Osibodu; Ogun State Governor, Prince Dapo Abiodun; members of OGSIEC, Mr. Dele Bankole; Mrs. Remilekun Olaopa; and Mr. Olatunji Akoni, during the inauguration of the OGSIEC at the Governor’s Office, Oke Mosan, Abeokuta…yesterday
FBI: Nigeria, 19 Others Lost $13bn to Cyber Fraud in Five Years Kingsley Nwezeh in Abuja The United States Federal Bureau of Investigation (FBI) said 20 countries, including Nigeria lost $13.3 billion to internet crimes between 2016 and 2020. In 2020 alone, the affected countries lost $4.1 billion to such crimes as government impersonation, identity theft, personal data breach, misrepresentation, cyber scam, business email compromise, romance scam among others. In its 2020 report, the Internet Crime Complaint Centre of the
FBI said the fraudsters targeted the coronavirus aid relief, and Economic Security Act, which included provisions to help small American businesses during the pandemic. It said the age of the victims in the affected countries range between 20 and 60 years. Details of the report also showed that Nigeria is among the top 20-victim countries in 2020 with 443 victims, UK, 216,633; Canada, 5,399 and India, 2,930, among others. The FBI said the centre received 5, 679, 259 complaints
since inception in 2016, representing 440, 000 complaints per year on average since the last five years and 2000 complaints daily. “Unfortunately, criminals are very opportunistic. They see a vulnerable population out there that they can prey upon,” FBI’s Financial Crimes Section Chief, Steven Merrill, said. The US crime agency offered advice on measures to be adopted to avoid becoming victims of such crimes. “People are encouraged to protect themselves from
scammers by using extreme caution in online communication. “Verify the sender of an email. Criminals will sometimes change just one letter in an email address to make it look like one you know. Also, be very wary of attachments or links. Hover your mouse over a link before clicking to see where it is sending you,” it said. The FBI further urged internet users to “question anyone offering you something that is too good to be true or is a secret investment opportunity or medical advice.
Court Restrains EFCC from Arresting Ozekhome for Criticising Magu Alex Enumah in Abuja Justice Inyang Ekwo of a Federal High Court, Abuja, yesterday issued an order restraining the Economic and Financial Crimes Commission (EFCC), from inviting, harassing and threatening to arrest or detain human rights activist and constitutional lawyer, Chief Mike Ozekhome (SAN) over his criticism of former EFCC Acting Chairman, Mr. Ibrahim Magu. Justice Ekwo delivering judgment in a fundamental
rights enforcement suit filed by Ozekhome, held that serial acts of intimidation and constant invitations the EFCC extended to the applicant as well as threats to arrest, detain and humiliate him, over publications and speeches he made regarding the way and manner the commission fought the corruption war under Magu were illegal, unlawful, wrongful and unconstitutional. The judge further held that the action of the agency constituted a blatant violation of the applicant’s fundamental
rights as enshrined in Sections 35, 37, 39 and 41 of the 1999 Constitution (as amended), and Articles 5, 6, 8, 9, 10, 12 & 14 of the African Charter on Human and Peoples’ Rights Ratification and Enforcement Act, Cap. A9 LFN 2004. Defendants in the suit marked FHC/ABJ/CS/324/2018, were the EFCC, Magu and one of its lead operatives, Abubakar Aliyu Madaki. The senior lawyer had in the suit, told the court that EFCC had continued to harass him for being a vocal critic of the
lopsided nature of President Muhammadu Buhari’s anticorruption war led by Magu. Ozekhome maintained that one of the reasons the EFCC made him its primary target, was due to the fact that he secured so many legal victories against it in various hierarchies of courts in the country. He told the court that threats from the respondents was to shut him up from further criticisms of “the despicable and unjust manner of their fight against corruption in Nigeria”.
Delta Police Arrest Six Cultists Allegedly Involved in Sapele killings Sylvester Idowu in Warri The Delta State Police Command has arrested six suspected cultists allegedly connected to the killing of one Abowa Osawe on Shell Road, Sapele in Sapele Local Government Area of the state. Their arrest at the wee hours of last Wednesday followed intelligence to the effects that Osawe was shot and killed by four men suspected to be
cultists in Sapele, prompting the area Divisional Police Officer (DPO), CSP Harrison Nwabuisi, to mobilise his men to the scene and arrested four suspects. According to a statement signed by the state acting Police Public Relations Officer (PPRO), Edafe Bright, the DPO, CSP Nwabuisi, quickly mobilised his men to the scene as well as commenced investigation into the killing immediately.
According to him, “With the combined efforts of the police and local vigilante, five suspects, including Timothy Clark, 27, and Patrick Mbuk, 29, were arrested.” Others arrested, he disclosed, were “Gift Omofeye, 26; Ogburang Samuel Ibe, 31, and Onyekachi Amadike, 24, in connection with the murder,” adding that on interrogation, confessional statement of the suspects led to the arrest of
one Andrew Eleya 26, also know as Pounds, who has been reported as a notorious cultist, terrorising Sapele. Bright said cult regalia, one locally-made pistol, and two cartridges were recovered from him while the vehicle used in the act, a red Toyota Camry with Registration No: AAA409 GL, was recovered, stressing that the suspects confessed to be members of the Aye cult group.
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A’Court Dismisses Certificate Forgery Allegations against Obaseki Alex Enumah in Abuja The Abuja Division of the Court of Appeal yesterday dismissed a case of alleged certificate forgery brought by the All Progressives Congress (APC) against the Edo State Governor, Mr. Godwin Obaseki. The APC in the appeal was seeking to upturn a judgment of a Federal High Court, Abuja, which earlier dismissed the case of the plaintiff on the grounds of abundant evidence that the certificates Obaseki tendered to the Independent National Electoral Commission (INEC) were genuine and issued by
the relevant authorities. APC in the suit, was seeking the sack of Obaseki as governor on the grounds that he forged documents he submitted to INEC in aid of his qualification for the last governorship election in Edo State. Delivering judgment yesterday, the three-man panel did not only dismiss the appeal of the APC for being incompetent and lacking in merit but went ahead to award the sum of N250, 000 as cost in favour of Obaseki. Justice Stephen Adah in the judgment held that the lower court was right in its findings and conclusion in the APC suit.
The appellate court also upheld the testimony of the Deputy Registrar, Legal, Mr. Abayomi Ajayi who confirmed that Obaseki attended the University of Ibadan in 1976 and fulfilled the requirement for admission into the institution. Adah added that the evidence of the Deputy Registrar was
direct in showing that Obaseki did not forge his University of Ibadan certificate submitted to INEC and as such fulfilled all requirement to contest for the governorship position of Edo State. Justice Adah further said the APC failed to prove the certificate forgery allegation
and that the appeal is quite unmeritorious. The court dismissed it with N250, 000 cost in favour of Obaseki and another N50 ,000 each in favour of the Peoples Democratic Party (PDP) and INEC. Justice Ahmed Mohammed of the Federal High Court,
Abuja had on January 9 this year dismissed the alleged certificate forgery suit against Obaseki, on the grounds that the party failed to substantiate its claim of forgery. But not satisfied, the APC approached the Appeal Court to challenge the judgment of the lower court.
APC, PDP Trade Words over Alleged $2.5bn Arms Scandal Chuks Okocha and Adedayo Akinwale in Abuja The All Progressives Congress (APC) and the Peoples Democratic Party (PDP) yesterday traded words over an allegation by the main opposition party that officials in the administration of President Muhammadu Buhari were involved in a fresh $2.5 billion arms scandal. PDP yesterday alleged that the revelation of another $2.5billion arms purchase scandal in which officials of the Buhari-led APC administration were named is another ugly testament of the stench of corruption oozing out from the Presidency and the APC, as a party. The PDP called on the National Assembly as a matter of urgency to conduct an open and joint investigation into the arms deal. The party said that with this fresh $2.5 billion arms scandal, reportedly involving the National Security Adviser (NSA) Maj. Gen. Babagana Monguno (rtd), who had
earlier revealed that $1 billion also for arms cannot be traced, an alarming $3.5 billion meant for purchase of weapons to secure Nigeria under the Buhari administration has been looted. The PDP in a statement by its National Publicity Secretary, Mr. Kola Ologbondiyan stressed that the exposed bare-faced contract scam in the $2.5 billion scandal as well as the outright disappearance of the $1billion as earlier revealed by the NSA, showed the level of corruption and unscrupulousness among APC leaders and their agents, who are stealing funds meant for arms while the citizens are daily marauded, pillaged and murdered by terrorists, bandits and kidnappers. “It is more distressing that instead of standing on the side of the people to demand for a clean-up of the system and recovery of the stolen funds, the APC, as a party, is rather desperate to justify acts of corruption, because its leaders and officials of its government are involved”.
PRODA Board Chairman Urges EFCC, ICPC to Investigate Gbajabiamila, Nwawuba Adedayo Akinwale inAbuja The Chairman of the Board of Project Development Institute (PRODA), Mr. Daniel Onjeh, has called on the Economic and Financial Crimes Commission (EFCC) and the Independent Corrupt Practices and other related offences Commission (ICPC) to probe the Speaker of the House of Representatives, Hon. Femi Gbajabiamila, and a member of the House, Hon. Henry Nwawuba, over alleged contract racketeering. The House had last Wednesday adopted a report by the Committee on Public Procurement, where it recommended the immediate suspension of the acting DirectorGeneral of PRODA, Dr. Fabian Okonkwo, for alleged gross violation of the provisions of the Public Procurement Act. The lawmakers alleged that Okonkwo and all principal staff of the institute involved in the illegal payment of contractors should be referred to the relevant
government anti-graft agencies for investigation and possible prosecution. But addressing a press conference yesterday in Abuja, Onjeh described the investigation on the PRODA 2020 procurement exercise conducted by the House as a mere academic exercise. He insisted that the resolutions that emanated from the investigation are at best, only advisory and not binding on the executive. Onjeh clarified that the directive asking him to ‘step aside’ was not connected to any allegation against his person as the House was trying to suggest, rather, it was mere administrative procedure authorities take sometimes on a complaint to allow unfettered investigation against an accused person. He said it has been discovered that most PRODAcontractors were mere fronts for National Assembly members used as conduit pipes to siphon monies meant for zonal and constituency projects.
REMAINING FOCUSED…
L-R: Bayelsa State Deputy Governor, Senator Lawrence Ewhrudjakpo; Governor Douye Diri; former Senate President, Dr. Bukola Saraki; and former Anambra State Governor, Mr. Peter Obi, at the opening of a three-day Bayelsa Cabinet Retreat in Uyo, Akwa Ibom State…yesterday
AGF Takes over Ohakim’s Prosecution for Alleged Threat to Life Alex Enumah in Abuja
The office of the Attorney General of the Federation (AGF) yesterday told a Federal High Court in Abuja that it has taken over the trial of former Imo State Governor, Chief Ikedi Ohakim from the Inspector General of Police (IG). The move, according to a lawyer from the AGF’s office, Mr. Bagudu Sani, is to ensure diligent prosecution of the case. Ohakim is facing criminal charges on alleged threat to life
of an Abuja-based woman, Mrs. Chinyere Amuchienwa. The court had earlier slated yesterday for the former governor to be arraigned, but when the matter was called, Sani informed the court that the office of the AGF has taken over the case via a letter dated March 17, 2021, which he said had been served on the Inspector General of Police. Counsel to the Police, Rufus Dimka opposed the move on the grounds that the charges preferred against the former governor were prepared by the
office of the IG, whom he said is the complainant in the case. Responding, trial judge, Justice Taiwo Taiwo while stating that he has taken judicial notice of the letter directed Sani to file the letter formally before the court. The judge deferred the arraignment of the former governor to May 6, 2021 to enable parties file and serve written addresses on the propriety of the office of the AGF taking over the case from the Police. Ohakim and one Chinedu Okpareke were dragged to the
Federal High Court by the police over allegations of threatening and harassing Mrs. Chinyere Amuchienwa. Ohakim has been on police administrative bail since November 11, 2020. According to the charge number, FHC/ABJ/ CS/287/2020, Ohakim and Okpareke were alleged to have threatened to release a nude photograph of Amuchienwa, if she fails to drop charges of attempted kidnap against them.
American Lady Drags Lagos Police to Court over Illegal Detention An American lady, Kari Ann R’ouke, has filed a suit at the Federal High Court, Lagos, against the Lagos State Commissioner for Police, Mr. Hakeem Odumosu, asking the court to order her release from police custody. In Suit No.FHC/L/ CS/434/2021 filed yesterday at the Registry of the court, Kari Ann is asking for a declaration that “the police are not entitled to arrest and detain her for an indefinite period of time over a matter that does not disclose any reasonable offence; a declaration that
her continued remand in perpetuity without a charge is illegal and unconstitutional and for an order directing the police to forthwith release her from illegal custody”. Named as respondents in the suit filed on her behalf by legal luminary and Senior Advocate of Nigeria (SAN), Mr. Ebun-Olu Adegboruwa, are the Lagos State Commissioner of Police, Odumosu and the Deputy Commissioner of Police in charge of State Criminal Investigation Department, Panti, Yaba, DCP Adegoke Fayoade.
In the affidavit in support of the case, it was stated that Kari Ann is a certified nurse in America, who came to Nigeria in January 21, 2021, to partner someone she met online to establish a humanitarian outfit. Upon completing her assignment in Nigeria, she departed for the Murtala Mohammed International Airport, en route to America. However, R’ouke said she was stopped by the Immigration Department on the ground that her COVID-19 test result had expired, whereupon she
was made to sleep at the Airport purportedly for a new COVID-19 test. The following day, the American said she was informed that her friend had passed on, “unknown to me”. “The CCTV footage of the hotel showed clearly that Kari Ann left her friend in the hotel room in good health in the company of his friends and relatives, all of whom were initially arrested but have now been released upon the autopsy report which showed that he died of cardiac arrest, without any foul play.
Court Grants Bail to Kano Whistleblower, Shehu Ibrahim Shuaibu in Kano The Federal High Court in Kano, Kano State, presided over by Justice Ambrose Lewis-Allagoa yesterday granted bail to a whistleblower, Mahdi Shehu. Justice Lewis-Allagoa, however, granted the whistleblower bail with N10 million and a reliable surety with landed property in Kano Municipal and a verified residential address in Kano. The prosecution counsel,
Samuel Lough, an Assistant Commissioner of Police (ACP), had told the court that it had filed a 24-paragraph affidavit in objection of the bail, premising his argument on the fact that the defendant had initially jumped bail and failed to present a medical report to show he was ill within the period as claimed. Also at the resumption of the court sitting, the prosecution told the court that due procedure was not followed in transferring the case by the Chief Judge of
the Federal High Court from Katsina State to Kano State, hence the appeal that the matter be brought back to the Chief Judge for proper reassignment. Lough said as a party that charged the defendant to court, they were not given fair hearing over allegations made by the defendant that Katsina State court might be biased in handling the case. The defence counsel, Ilas Habib, urged the court to overrule the objection, saying there was no breach of fair
hearing, hence, the need for the business of the day (arraignment of the defendant). The Judge, however, overruled the objection, saying the Chief Judge has the power to transfer the matter to any court, ordering that the prosecution take the plea or he (Judge) take a consequential order. The plea was taken, of which the defendant, Mahdi Shehu, who appeared before the court in clutches, neck band and pillow, pleaded not guilty to the charges.
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Insecurity: Police Not Getting Maximum Cooperation from States, Says IG Ejiofor Alike The Inspector General of Police (IG), Mr. Mohammed Adamu, yesterday accused state governments across the
country of not giving the police maximum cooperation to tackle insecurity in the country. Speaking in Abuja during the First Quarter 2021 regular meeting of the Forum of
Airlines May Shut down Operations over Non-implementation of Waivers on Duties managing the aircraft without Chinedu Eze The Chairman of Air Peace and Vice-Chairman of Airline Operators of Nigeria (AON), Chief Allen Onyema, has stated that domestic operators may be forced to shut down service due to high duties charged them by the Nigerian Customs Service (NCS). Onyema said President Muhammadu Bubari, in his magnanimity, granted the airlines waivers on customs duties on aircraft and spares through executive order last year, but NCS has refused to implement the policy. He said the Buhari administration signed the waiver policy to enable airlines survive the devastating effect of the COVID-19 pandemic on airlines, but Customs still charges duties between 10 and 35 per cent of the cost of aircraft and spare parts which the airlines must pay before they receive their equipment. Onyema noted that while waiting for the duties to be paid, Customs could hold on to the imported equipment for months, thus denying the airlines the chance to use their aircraft. The Air Peace boss made this known yesterday during the arrival of its second brand new aircraft, E195-E2, from Embraer factory in Brazil, which landed at the Nnamdi Azikiwe International Airport, Abuja. He noted that the federal government had since 2016 been granting airlines duty waivers, but the NSC had continued to repudiate the policy, prompting the Buhari administration to sign the executive order on zero-duty for all imported aircraft and spare parts in 2020. Onyema said instead of
spare parts, which may give rise to safety breach, the airlines might consider shutting down operations until the Customs begin to implement the federal government zero-duty policy and release the spares held down in their facilities. According to him, “I want to thank the Minister of Aviation, Senator Hadi Sirika, for the revolution he has brought in the aviation industry. I also want to thank President Buhari for removing VAT from the importation of aircraft, for removing custom duties from the importation of aircraft a as well as removing VAT from ticket fares. The president has done very well for the aviation industry by signing into law these demands that we presented to him. He didn’t waste time. It shows that the president is desirous and ready to support indigenous investments in this country. This is something that we are very proud of. “But I plead with the federal government to talk to the Customs to feel the pulse of the president and his government. We must always do things that will reduce the name-calling or bad-mouthing of a particular regime. The Customs know very well that waivers have been signed into law yet I have an aircraft on ground for over one month because the engine which was imported is with the Customs because of duties. I paid over $1 million insurance on the aircraft. This is a company with a staff strength of over 3,000 people, our spare parts and engines will come into this country and Customs will keep them, giving us all manner of reasons.”
DPR Allays Fears of Fuel Scarcity during Easter Festival Seriki Adinoyi in Jos Ahead of the upcoming Easter festival, the Department of Petroleum Resources (DPR) has reassured Nigerians that there would be no fuel scarcity, urging them to desist from panic buying of the product. It also assured Nigerians that the government has put a formidable policy in place to ensure free flowing supply and distribution of petroleum products in the country ahead of the Easter celebration. Addressing journalists after going round on routine surveillance to monitor and ensure that all retail outlets are complying with the recommended price of between N162 and N165 per litre, DPR Head of Operations in Jos, Plateau State, Stanley Ngene, said: “I can assure you that
every necessary precaution is being taken by the government to ensure that we do not go back to the days of fuel scarcity.” Ngene stated that the outcome of the surveillance revealed that almost all the retail outlets in Jos are complying with the recommended price schedule, and that the rumours of fuel being sold at higher rate are untrue. The DPR head of operation, however, said some pumps were sealed at some of the filling stations for malfunctioning pump nozzles, under-dispensing, and bad delivery, noting that for every pump that was sealed, the station will be charged N100,000 to be unsealed. He further reassured Nigeria that there was no cause for panic buying, as there is a constant daily supply of over 20 trucks of fuel to the state.
Secretary to the Government of the Federation and Secretaries to State Governments (SSG), Adamu said the SSGs to should coordinate other stakeholders in their states. “We are not getting the maximum cooperation we are supposed to get at states’ level and we believe that the
SSGs should be conscious of security in their states because when they are able to galvanise all stakeholders and different structures that are there that can enhance the security of the states, we will have relative peace in terms of insecurity - because if the SSGs are not coordinating activities within the states in
these areas, I don’t think there is anybody that can do it,” Adamu explained. The theme of the meeting was: ‘The Role of Secretaries to the State Governments in Strengthening Sub-National Level Security Architecture.’ It also had in attendance the National Security Adviser (NSA),
Maj. Gen. Babagana Monguno (rtd). The forum provided an opportunity for the top security chiefs to share their thoughts with the SSGs and highlight critical areas where the forum can provide the necessary support to tackle insecurity across the country.
CLIMATE CHANGE IN FOCUS…
L-R: Acting Director General, Ministry of Environment, Mrs.Halima Bawa; Minister of Environment, Mr. Muhammad Mahmood; and Executive Director, Women Environmental Programme (WEP), Mrs. Anne-Marie Abaagu, during the sensitisation workshop on national action plan for gender and climate change organised by WEP in Abuja … yesterday ENOCK REUBEN
Woman, Four Children Burnt to Death in Ilorin Inferno Hammed Shittu in Ilorin
Four children of same parents and their mother were yesterday burnt to death in an inferno that gutted their apartment at Tanke area, Ilorin, the Kwara State capital. The residence where the incident took place is situated at Ifesowapo community, behind ‘F’ Division Police Station in Ilorin. The incident, according to THISDAY checks, happened yesterday night after a lit candle in one of the rooms caught flames and spread to
other rooms, consequently burning the house down during their sleep. It is recalled that residents of Tanke, Fate and Oke-Odo areas, among other places in the Ilorin metropolis, have been thrown in total darkness for almost one week following the rainstorms that damaged electric poles in the areas. It was gathered that husband and father of the deceased was said to have gone out to get something when the incident happened. Sources close to the family told journalists in Ilorin that
the only child that survived the inferno was said to have been receiving medical attention at University of Ilorin Teaching Hospital (UITH). It was reported that men of the state fire service swung into action when they got the distress call on the incident, but the damage had already been done before their arrival, allegedly due to bad road in the area. The Chairman of Ifesowapo community, Awodun Yinka, who spoke with journalists at the scene of the incident yesterday, said: “Members of the
community heard the agonising noise from a room-and-parlour self-contained apartment, and quickly rushed down,” adding that unfortunately, they were unable to rescue the children. He said the fire was caused by the candle, which reportedly spread across the apartment while the occupants were sleeping, adding that: “The inferno was not caused by power surge. “The Tanke area in Ilorin has been in blackout for the past few days due to the rainstorms that damaged some electric poles in the area.”
FG: Excess Crude Account Balance Stands at $72.4m
Deji Elumoye in Abuja
The Minister of Finance, Budget and National Planning, Mrs. Zainab Ahmed, yesterday disclosed that the nation’s excess crude account (ECA) balance as at March 16, 2021, stood at $72,412,384.88. Ahmed who made the financial figures public in Abuja, during the National Economic Council (NEC) meeting in Abuja further stated that Stabilization account balance as at March 16, 2021 was N24, 994, 821,242.14
while Natural Resources Development Fund Account balance as at 16th March, stood at N90, 744,488,087.88 Vice President Yemi Osinbajo chaired the meeting. On his part, the Minister of Communications and Digital Economy, Dr. Ali Isa Pantami, spoke on the issue of the implementation of broadband access in the country. He sought the support of NEC in the formulation and implementation of policies that will ease broadband penetration
in Nigeria. He said: “All States should support us by adhering to the N145 Right Of Way (ROW) charge per linear meter. The long-term benefits are far more than the initial fees being collected. Before the NEC consensus to peg the ROW charge at N145, there were instances the fees varied between N5000 – N10,000. “We need a Point of Contact in each State as the interface on broadband and digital economy issues, and each
State is also encouraged to have an institution or department to handle requests regarding broadband and the digital economy” Highlighting some of the benefits derivable in increasing broadband access in the country, the Minister noted that the World Economic Forum predicted that over 60 percent of global GDP will be digitized by 2022 and that within the next decade, digital platforms will be used to create close to 70 percent of new value.
100 Young Change Agents Emerge from SPF’s Creative Youth Boot Camp No fewer than 100 young Nigerians have graduated as creative agents from the Street Project Foundation’s (SPF’s) Creative Youth Boot Camp. The boot camp with the theme “Art for Social Transformation” commenced November 2019 and successfully came to an end in March 2021 with the graduation of 100 young creative change agents. The programme, fully funded by VOICE is designed to expose the most vulnerable youths in Nigeria living in disadvantaged
communities to the incredible world of the Creative Arts and its powerful usage for social transformation. Founder and Lead Visionary of SPF, Rita Ezenwa-Okoro, stated that the objective of the project was to primarily prepare the youths for opportunities in the job market and to build their capacity to advocate for social issues affecting them. Creative art tools, she said, were used to develop the participants’ soft skills such as critical thinking, public speaking, communication skills,
team building and confidence. Upon conclusion of the project, 60 per cent of the creative youth were accelerated through mentorships, internships, scholarships, fellowships, business loans and grants. Meanwhile, 12 per cent of the creative youths are persons living with disabilities. She said, “We are glad for the strides made, regardless of the COVID-19 pandemic that ravaged the world and our communities less than mid-way into the project, our rightsholders, faculty, staff and
funding partner VOICE, were resilient. We embraced the new normal and navigated through it ensuring our youth learned what they had to learn” She continued by saying that “they get to celebrate the many young creative change agents that have emerged, which includes the following: Blessing Idoko a PLWD who has been granted a N1million COVID-19 SME funding by the Central Bank of Nigeria to accelerate her bakery business, which was affected by the Pandemic.
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Ensure Proper Utilisation of $890m Grant, Buhari Tells Ehanire Deji Elumoye inAbuja
President Muhammadu Buhari yesterday charged the Minister of Health, Dr. Osagie Ehanire, to ensure proper utilisation of Global Fund’s Health grant of $890 million to support Nigeria’s fight against HIV-AIDS, Tuberculosis (TB) and Malariabin the next three years. The President, who also demanded for periodic report on the fund spendings from the minister, further reiterated his regime’s zero tolerance for corruption and inefficient use of resources. Buhari issued the directive at the virtual launch of the $890 million grant, for the period of 2021-2023, which will also support the establishment of resilient and sustainable systems for health in the country. He said: ‘’Let me also emphasize here that this administration has zero tolerance for corruption and inefficient use of resources. In this regard, I hereby direct the
Minister of Health to set up an accountability framework, to monitor the use of this fund and provide periodic performance reports to my office”. The President, who assured donor agencies and development partners of judicious use of the grant, said the funding would complement investments in the health sector, help curb new infections, and reduce HIV-AIDS, Tuberculosis and Malaria-related morbidity and mortality. According to him, “it is my wish that in the next three years, these three diseases are taken much further down the path of elimination,’’ he said. He also applauded the Global Fund for their contribution of the sum of $51 million during the early stages of Nigeria’s response to the COVID-19 pandemic, to procure Personal Protective Equipment (PPEs), test kits and scale up diagnostic capacity. His words:’’I acknowledge the support of Development
Court Declares Ararume Winner of Imo North By-election A Federal High Court in Abuja yesterday ordered the Independent National Electoral Commission (INEC) to issue a Certificate of Return within 72 hours to Senator Ifeanyi Ararume as the winner of the December 5, 2020 by-election for the Imo North senatorial district of Imo State. In a judgment delivered by Justice Taiwo Oladipupo Taiwo, the court held that Ararume remained the authentic candidate of the All Progressive Congress (APC) in the election as of yesterday and should be declared the winner of that election. The judge dismissed the preliminary objection filed by the APC and one Chukwuma Francis Ibezim, challenging the jurisdiction of the court to entertain Ararume’s suit. Justice Taiwo held that the objection lacked merit because Ibezim being purported by APC as its candidate in the by-election had been disqualified by a Federal High Court and later
Court of Appeal for supplying false information to INEC to secure clearance for participation in the election. A Senior Advocate of Nigeria (SAN), Mr. Ahmed Raji, who represented Ararume, told the court to invoke the judgments of a Federal High Court and that of Appeal Court to disqualify Ibezim and declare him as the rightful candidate for APC. Raji said that the judgments of the high court and later the Court of Appeal have conclusively disqualified Ibezim and cannot claim to be an aspirant or candidate in the election. But in opposing Ararume’s suit, APC had told the court that it never fielded Ararume for the last year December senatorial election. The party had insisted that Ararume lacked locus standi to lay claim to the candidacy because he did not even come second in the primary election conducted for candidate nomination and urged the court to dismiss his suit.
Hijab: Kwara Directs Principals, Teachers of 10 Shut Schools to Resume Hammed Shittu in Ilorin Kwara State Government yesterday ordered the principals, teachers and other staff of the 10 schools shut down earlier by the state government to report at their respective schools today or face the full wrath of the law. The reopening of the affected schools last Wednesday led to violence as some Muslims and Christians in the state exchanged words over the wearing of Hijab in the affected 10 schools in the state. The development, however, led to the turning back of teachers and students to their homes leading to the shutting down of the affected schools in the state. However, in a statement issued in Ilorin yesterday, which was signed by the Executive Chairman of the state Teaching
Service Commission, Mallam Bello Abubakar, and made available to journalists, he explained that the teachers’ resumption became necessary in order to prepare the final year students for their external examinations. According to Abubakar, “Any staff member who fails to report to his or her duty would face the full wrath of the law, as the state government will not condone any act of insubordination.” Abubakar also warned all stakeholders against taken laws into their hands, stressing that peace meeting will continue between the government and the stakeholders. He also appealed to parents and members of the public to remain calm as the government is on the top of the situation since its meeting with stakeholders is still on going.
Partners, namely; the United States government, the United Nations System, Bilateral Agencies and various Local and International Foundations. ‘’I am pleased to say that, on our part, we are on track to fulfilling our co-financing commitments to the Global Fund for this new funding cycle and meeting our other commitments
as and when due”. Commending the work of Nigeria’s Country Coordinating Mechanism, under the leadership of the Minister of Health, President Buhari reaffirmed Nigeria’s commitment to achieving the Sustainable Development Goals (SDGs) by 2030. He pledged that his administration would continue
to work with fellow Heads of State and Governments in Africa to ensure sustained high-level political engagement to achieve the SDG goals. The President recounted that the strong partnership between the Government and people of Nigeria and Global Fund, dating back to 2002, had contributed immensely to saving lives, especially of
women and children. According to him, over the last two decades, joint efforts with the Global Fund, the United States Government, the United Nations and other Development Partners, had succeeded in bringing about significant reduction in new infections, morbidity and mortality from HIV, Tuberculosis and Malaria.
WOMEN AFFAIR…
L-R: Members of Ekiti State House of Assembly, Hons. Kemi Balogun, Olubunmo Adelugba, Yemisi Ayokunle; and Teju Okunnuga, during the seminar they organised for women in politics, in Ado Ekiti …yesterday VICTOR OGUNJE
Prevail on Ayade to Pay Judges, Group Tells Buhari Adedayo Akinwale in Abuja A group, the Cross Riverians Progressive Initiative (CRPI), has called on President Muhammadu Buhari, the Judicial Council of Nigeria (JCN) and other stakeholders to prevail on the Cross Rivers State Governor, Prof. Ben Ayade, to pay Customary Court Judges their 24 months salaries and allowances without further delay. The National Secretary of the group, Dr. Peter Odey, made the call in a statement issued yesterday in Abuja. The group, while sympathising with the
affected Judges over the untold hardship the delay in their payments might have caused them, pleaded with them to continue to be upright in the discharge of their duties in the interest of the state pending the amicable resolution of the payment. It noted that the about 253 Judges were appointed on February 4, 2019, and were given their letters of appointment, sworn in by Ayade and have since been performing their official responsibilities, but sadly, they have not been paid a dime till date.
The CRPI added that it believed that the governor was not in the know of the unpaid salaries and other entitlements of the Customary Court Judges, “because he appointed them and would not have any reason to deny them their salaries and entitlements for over two years counting.” According to the statement, “Findings revealed that the affected judiciary officers have been screened severally in anticipation of the payment of their salaries, but nothing seems to be coming out of the screening exercises and no hope in sight that the salaries
will be paid soon. “The country is currently in a trying time as the economy is in bad shape and the cost of living is too high to bear, so our passionate appeal to the governor is to look into this matter urgently and do the needful in the interest of the people of the state he swore to protect at all times.” The group, therefore, expressed concern that there might be miscarriage of justice “because corruption would set when salaries and other entitlements are not paid as being witnessed now in Cross Rivers State.”
FG Rehabilitates Burutu Port for Cargo Transit Sylvester Idowu in Warri The National Inland Waterways Authority (NIWA) has commenced the rehabilitation of Burutu port in Burutu Local Government Area of Delta State, as part of efforts to decongest the Lagos ports. The Managing Director of NIWA, Dr. George Moghalu, made the disclosure yesterday while inspecting the ongoing reactivation work at the Burutu port. When completed, he said
the port would serve as a trans-shipment of cargoes to hinterlands like Onitsha, Lokoja, Baro in Niger State, among others. The NIWA boss stated further that it would also help to decongest the Lagos ports as well as ease the pressure on Nigerian roads. According to him, “It is not about building ports but making them active to decongest Lagos. We intend to encourage this port to be a tran-shipment port so that
vessels can move from Lagos to Burutu then from Burutu they can move by badges to the various hinterlands. “Burutu port is very strategic; everyone is concerned about the congestion in Lagos. We are also concerned about how to move cargoes to the hinterland. Our roads are not design for the loads it currently carries-they are not design to carry the weight they are carrying. “In a civilized democracy and advanced countries, bulk cargoes are most usually move
by air or water, and ours cannot be different. We have over 10,000 km waterway, so what is required for us to do is to make our channels navigable all year round and put them into active use for the good of our people and country.” While commending the management team of AkewaColmar Terminal for the good work, Moghalu said the concern of the federal government was to make the port functional in line with its diversification policies.
Anambra Guber Poll: Let the People Decide on Zoning, Says PDP Aspirant Chuks Okocha in Abuja
A governorship aspirant of the People Democratic Party (PDP) in the November 6 governorship election in Anambra State, Hon. Chris Azubogu, has stated that the decision on zoning should be left for the people to decide. Azubogu, a serving member of the House of Representatives representing Nnewi North/ Nnewi South federal constituency, is seeking the governorship ticket on the platform of the PDP. Speaking after obtaining
the Expression of Interest and nomination forms at the party’s secretariat in Abuja, the lawmaker restated his readiness to leverage on the state vast human resource endowment to make governance count for the people. According to him, “The past 14 years have been utilised in acquiring knowledge that would come handy in repositioning the South-eastern state for the benefit of the people. “The decision on zoning is left for the Anambra people
to decide. The people and institutions will consider that zoning exists, and there is no doubt about that. The traditional institutions, town unions, religious and community leaders have in one way or another, in order to solve some political challenges, made it possible for everyone to commit that there is zoning in Anambra State. “I am contesting the election on the platform of the PDP, a party that is willing to win an election because every politics is local, and will always do its
work. So whether zoning is what we will rely on is the decision of the party. “For me as a party man, I will stand with what the party says. For others, if knowing fully that they want to win election, every politics is local, the leaders that are involved, not only the political leaders, other community leaders and institutions in Anambra State will always decide on where it will go, and as a party that wants to win election, these are the things to consider.”
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Kuda Raises $25m to Provide Banking Service for Africans Emma Okonji Kuda Technologies has raised a $25 million funding that will enable it continue to build out its specific ambition to provide a modern banking service for Africans and the African diaspora, its co-Founder and CEO, Mr. Babs Ogundeyi has said. The technology company, which currently offers mobile-first banking services in Nigeria, has
picked up $25 million in a Series ‘A’ being led by Valar Ventures, the firm co-founded and backed by Peter Thiel, with Target Global and other unnamed investors participating. This is the first time that Valar, which has invested in a number of fintech startups, including N26, TransferWise, Stash and, just in the last week, BlockFi and BitPanda, has backed an African startup. Kuda currently provides
services for consumers to save and spend money, and it has recently introduced overdrafts essentially revolving credit for individuals. Ogundeyi said in an interview that the plan is to use these new funds to continue expanding its credit offerings, to build out services for businesses, to add in more integrations and to move into more markets. The funding is coming on the
heels of very strong growth for Kuda, which is co-headquartered in London and Lagos. It was reported four months ago that the company closed a seed round of $10 million led by Target Global, which is the largest-ever seed round raised by a startup out of Africa. According to Ogundeyi, “At the time of the seed round, Kuda had registered 300,000 customers: now that figure has more than
doubled to 650,000, that base is spending more money through the Kuda app. In November we were doing about $500 million in transactions per month for services like bill payments, card transactions and phone top-ups. We closed February at $2.2 billion.” Kuda, he added, is following in the footsteps of a number of other so-called “neobanks”, building a suite of banking services with
a more accessible user interface and a more modern approach: you interact with the bank using a mobile app, and in addition to basic banking services, it provides tools to help people manage their money more intelligently. As Ogundeyi describes it, most people who are employed by companies will have “salary accounts” at banks, where companies pay in a person’s wages on a regular basis.
FG Eyes N100bn Electricity Tariffs Collection
Emmanuel Addeh in Abuja
The federal government said yesterday that with the renewed financial discipline within the nation’s power sector, following the recent intervention by the Central Bank of Nigeria (CBN), it expects collections of electricity tariffs to hit N100 billion in the short to medium term. It also disclosed plans to totally eradicate subsidy payment in the power sector by the end of the year, saying that the amount it pays monthly to subsidise the sector was gradually reducing. Speaking during a web conference organised by the Abuja Chamber of Commerce and Industry (AICC), Special Adviser to President Muhammadu Buhari on Infrastructure, Mr. Ahmad Zakari, explained that the collection efficiency of the Distribution Companies (Discos), has markedly improved since the CBN started warehousing
the funds. Zakari stated that the Buhari administration was focused on moving from the traditional way of funding subsidies or using the liquidity in the sector to fund consumption, rather than using it to provide infrastructure that will ultimately lead to growth. He said the federal government recently got a nod from the World Bank to fund the distribution and rehabilitation of the sector to the tune of $500 million, which he said is a reflection of the donor community’s confidence in the reforms being carried out by the administration. According to Zakari, the government at the centre is expecting to spend over the next 24 months, between $2.5 billion to $3 billion in the sector, adding that in less than a year, the power being wheeled by the Transmission Company of Nigeria (TCN) will exceed 7,000MW.
Gunmen Kill One Person, Abduct Two in Jigawa Ibrahim Shuaibu in Dutse Suspected gunmen have killed one person and abducted his mother and brother in Birnin Kudu Local Government Area of Jigawa State. The incident occurred late evening on Wednesday when the gunmen stormed the house of one Mr. Abubakar of Kawo Quarters in Birnin Kudu town, killed one of his sons and took away his wife and an eight year old boy. The Spokesman of the Jigawa State Police Command, ASP. Zubairu Aminudeen, confirmed the incident yesterday. Aminudeen said the incident
occurred at about 03.25 a.m. at Birnin Kudu town where unknown persons trespassed, attacked and shot one of his sons on the chest and took his wife and another son to an unknown destination. He said the victim was rushed to Federal Medical Centre, Birnin Kudu, by the police and was certified dead by a medical doctor. He assured that the police are making efforts to rescue the kidnapped victims and arrest the culprits as officers of the anti-kidnapping unit have been deployed on a search and rescue mission in Birnin Kudu.
ATBU Matriculate 7,156 Students for Two Academic Sessions Segun Awofadeji in Bauchi The Abubakar Tafawa Balewa University (ATBU), Bauchi, has matriculated 7,158 students for the 2019/2020 and 2020 /2021 academic session. Speaking during the matriculation of the students yesterday at the Yelwa campus, the Vice Chancellor of the ATBU, Professor Muhammad Ahmad Abdullazeez, said that due to limited facilities, the university could not admit everybody. Abdullazeez explained that it was the COVID-19 pandemic that caused the delay in matriculating the 2019 intake. He said: “The times are
challenging, humanity is faced with new challenges. COVID-19 is real. Here in ATBU, we are responding to the pandemic in ways that are in line with the established protocols of the government. “We insist on face masks, washing of hands, use of hand sanitisers and social distancing. I implore you all to obey these protocols knowing that they are for our own good. Noncompliance may deny you access to certain places and facilities on campus. We are also mindful of your security that Bauchi State is one of the most peaceful state in the country and does not permit us to be lax on matters of security.”
A BOOST TO TECHNOLOGY…
L-R: Enugu State Commissioner for Science and Technology, Mr. Obi Kama; Enugu State Governor, Hon. Ifeanyi Ugwuanyi; Chairman, State House of Assembly Committee on Education, Science and Technology, Hon. James Akadu; and the traditional ruler of Amorji Nike, Enugu East Local Government Area, Igwe Titus Okolo, during the inauguration of Enugu State Tech Hub and Youth Innovation Centre, at Independence Layout, Enugu… yesterday
Police Kill Three Bandits, Recover Rifles in Sokoto
This was announced yesterday by the State Commissioner of Police, Mr. Kola Okunlola, at a press briefing in Sokoto. He explained that the police responded to tip off by a resident of Gidan Buwai in Rabah Local Government Area (LGA) of the state, who reported that the bandits have invaded their community, which enabled the police to trail the bandits and engaged them in gun battles that led to the death of three bandits and the recovery of the AK-47 rifles. Okunlola further stated that two suspected bandits also were arrested
by the police. He also disclosed that one Shamsu of Sabon Gari Area of Goronyo LGA, went to Goronyo Division and reported that unknown person criminally called him via GSM NO 07025918649 and threatened him to produce money or else they would either kill him or kidnap one of his family members. The investigation of the GSM number led to the arrest of one Abubakar Yusuf of Gawo village, Wurno, who confessed to have been behind the call. The commissioner also said
some bandits that recently attacked villages in Bodinga LGA that led to the death of one resident and abduction of two persons have been arrested and their victims were rescued while one AK47 rifle and two magazines were recovered. He also stated that there was a report at Wurno Division that unknown bandits in large number invaded their house and kidnapped one Hussaina Bairu and Farida Jamilu to unknown destination. But the villagers mobilised themselves and followed the bandits to where their victims
were rescued and one Mr. Jabbi Alhaji Wanto was arrested. During investigation the suspect confessed to have conspired with one Dari’ of Digyal village and Umar’ of Laka village both of Wurno LGA, and now at large. Okunlola also stated that kidnappers terrorising the Gidan Madi in Tangaza have been arrested by the police He divulged that syndicates specialising in snatching handset, which came all the way from Kano State were arrested at Shehu Kangiwa Square venue of the 2021 Maulud celebration.
Court Jails 40-year-old Man for Raping Boy Okon Bassey in Uyo A 40-year-old-man, Mr. Aniekan John Udom, has bagged a life sentence in jailed for raping an eight-year-old boy. The judgment was delivered by Akwa Ibom State High Court that sat in Uyo. Justice Bennett Ilaumo found the convict guilty of rape, punishable by Section One and Two of Violence Against Persons Prohibition Law, 2020. The State Counsel, Mr. Maria
Akpan, had told the court that Udom was caught committing the offense in a broad daylight by a lesson teacher of the victim, one Iniobong Akpan Nta, at the backyard of their residence, number 12 Anyan-Ikot Street, off Abak Road, Uyo. Akpan said that Udom was seen with his penis inserted into the anus of the victim, who is a primary four pupil. The accused, who was a neighbour to the victim, pleaded guilty of the offense, which
occurred on Friday, August 28, 2020. The Police Medical Report confirmed that the victim was forcefully raped on the anus with clinical evaluation showing a young boy in pain and bruises around his anal region. Justice Ilaumo, in his judgment on suit number HU/23C/2020 said: “Upon the charge being read to the accused person and upon his plea of guilty and of his hearing the facts as stated by
the State Counsel, I enquired of the accused if the facts are true and correct and he admitted that they are. “I have aligned same with Section 1 (1) (a) of the Violence Against Persons (Prohibition) Law, 2020 and find that facts align with the provision of the law therein. Upon the accused person’s plea therefore, I find him guilty as pleaded. “The sentence provided for upon conviction for this offence is imprisonment for life.”
Senate Summons AuGF over Five-year Unaudited Account of NIS Deji Elumoye in Abuja The Senate has summoned the Auditor-General of the Federation, Mr. Aghughu Arhotomhenia, over the nonaudit of the financial records of the Nigerian Immigration Service (NIS) in the last five years. Arhotomgenia is to appear before the Senate Committee on Finance next Tuesday to give reasons why he refused to give guidelines for the auditing of
the accounts of the NIS since 2017 despite several reminder letters from the NIS to this effect. The Chairman of the Committee, Senator Solomon Adeola, gave the directive yesterday when the Controller General of Immigration, Mr. Mohammed Babandede, appeared before the committee investigating the remittances of Internally Generated Revenue (IGR) and one per cent stamp duty on all contracts by Ministries, Departments and
Agencies (MDAs) into the Consolidated Revenue Fund. In the course of the investigative hearing, the Chairman of the Fiscal Responsibility Commission (FRC), Mr. Victor Muruako, disclosed that his agency had not received the audited accounts of the NIS since 2017 contrary to the provisions of the Fiscal Responsibility Act 2007 among other infractions. Responding, Babandede explained that there have been
no guidelines from Auditor General’s Office despite repeated official requests from the NIS. He further disclosed that the revenue generating operations of the agency is under a public-private partnership (PPP) arrangement that he inherited with a sharing formula agreement that cannot be readily renegotiated or cancelled in the foreseeable future leaving the agency to remit only about 20 % of revenue generated to the federal government.
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Aiteo Alleges Plot of Smear Campaign Salat: The Believers’ Mi’raj - 1
Edited by: MJO Mustapha Email deji.mustapha@thisdaylive.com
Aiteo Group has raised the alarm of an alleged plot by Shell to launch media campaign to malign the reputation of the company and its Executive Vice Chairman, Mr. Benedict Peters. Group Head, Media Operations, Aiteo Group, Mr. Ndiana Matthew said in a statement last night that the attention of the company was drawn to this plot following the coverage of a press conference held yesterday by ARISE NEWS Channel, the broadcast arm of THISDAY Newspapers. The press conference, according to the company, was organised by the Concerned Nigerians and a number of leading civil society organisations, including the Arewa Consultative Youth Movement, African Human Rights Centre and National Association of Nigerian Students. “In the course of this event,
the speakers alerted the public of the existence of a plot by oil giant, Shell, to instigate and propagate a global smear campaign against us. It appears that this calumnious campaign is being prosecuted by, amongst other antagonists, individuals and entities,” the statement said. “What transpired from the press conference today is that the participants confirmed that Shell has committed substantial resources towards impugning Aiteo’s corporate integrity, presumably to exert penalty and punishment on Aiteo for mustering the temerity to demand and insist on its contractual and commercial relationship rights,” the statement added. Aiteo said it became “aware that the execution of this campaign will rely heavily on the dissemination and deployment – anonymously, pseudonymously
and by remunerated proxy – of deliberate misinformation and incorrect reportage aimed at discrediting and tarnishing our reputation, locally and internationally. This oblique and disingenuous campaign, which we now realise commenced a few weeks ago, appears to have been shamelessly escalated and brazenly intensified”. The company noted that while the dispute resolution between it and the international oil company (IOC) continues, the alleged plot by the IOC targeted at maligning the reputation of Aiteo and its Executive Vice Chairman, Peters, is deployed to divert the public attention from the pertinent current issues. Aiteo said it has continued, unperturbed, to undertake and accomplish its identified objectives in its resolve to remain one of the foremost indigenous oil and gas companies in Nigeria.
N60bn Hard Drugs Seized By NDLEA in Two Months, Says Marwa Victor Ogunje in Ado-Ekiti The Chairman of the National Drug Laws Enforcement Agency (NDLEA), Brigadier General Buba Marwa (rtd), has disclosed that illicit drugs worth over N60 billion have been seized by the agency in the last two months, which confirmed the alarming level of drug abuse and trafficking in the country.
CHANGE OF NAME I, formerly known and addressed as MRS OLUBUNMI GRACE OLUBODE now wish to be known and addressed as MISS OLUBUNMI GRACE MESUDANIELS. All documents remain valid. General public should please take note. This is to notify the general public that the bearer of these names FABIAN ATTAH & FABIAN ATTAH IGE refers to one and the same person . All documents bearing these names remain valid. The general public should please take note
I, formerly known and addressed as SANDRA AKUDO JOHN now wish to be known and addressed as SANDRA AKUDO JOHN EZE. All documents remain valid. General public should please take note. I, formerly known and addressed as OJO AKINOLA TIMOTHY now wish to be known and addressed as AKINLOWO AKINOLA TIMOTHY. All documents remain valid. General public should please take note. I, formerly known and addressed as SANDRA CHINYEM AFAMBU now wish to be known and addressed as SANDRA CHINYEM ODUYE. All documents remain valid. General public should please take note.
Marwa gave the startling revelation yesterday in Ado-Ekiti at a colloquium tagged: “Walk Away from Drugs,” which was organised by the Ekiti State Ministry of Justice. He described the menace of drug abuse as the most worrisome in the country. The former Military Governor of Lagos State said: “Insurgence, kidnapping and banditry are peculiar to some certain parts of the country, but drug abuse is universal. It has no boundary and no respect for ethnicity or religion. “The menace is worrisome. Within the last two months, more than N60 billion worth of illicit drugs have been seized and perpetrators arrested and prosecuted. “If access to drugs is prevented, criminality can be reduced by 50 per cent in the country.”
CHANGE OF NAME I, formerly known and addressed as ADETUNJI AFUSAT OLUFUNMILAYO OMOLARA now wish to be known and addressed as ADIGUN DORCAS OLUFUNMILAYO. All documents remain valid. General public should please take note.
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CORRECTION OF NAME
I, formerly known and addressed as HOPE OSI now wish to be known and addressed as MISS OLUBUNMI OSI HOPE CHRISTOPHER and my correct Date of Birth is 15th February 1992. All documents remain valid. General public should please take note.
I, ADEOLA OLUSEGUN OYEGBOLA, my name was wrongly written as ADEOLA SEGUN OYEGBOLA instead of ADEOLA OLUSEGUN OYEGBOLA, henceforth my correct name is ADEOLA OLUSEGUN OYEGBOLA. All former documents remain valid. Stanbic IBTC Bank plc and the general public should please take note.
I, formerly known and addressed as MISS RUTH OBISIKE now wish to be known and addressed as MRS ELIKWU RUTH and correct Date of Birth is 13th March 1987. All documents remain valid. General public should please take note.
7KLV LV WR FRQ¿UP WKDW FATI OLUFUNKE MOROHUNMUBO KEMISOLA is the same person as FATI O. M. KEMISOLA AND FATI OLUFUNKE MOROHUNMUBO KEMISOLA. All former documents remain valid. The general public should please take note.
The NDLEA boss called for concerted campaign against the use of illicit drugs among the citizenry, suggesting that parents should henceforth include drug certificate as parts of the criteria to give their daughters and sons hands in marriage. The Ekiti State Governor, Dr. Kayode Fayemi, in his address at the meeting, restated the commitment of his administration at reducing drug abuse in the state. Fayemi, who was represented by the Deputy Governor of Ekiti State, Mr. Bisi Egbeyemi, urged participants to take the deliberation seriously and come out with implementable plans to rid the society of the menace.
Buhari Mourns Tanzanian President, Magufuli Deji Elumoye in Abuja President Muhammadu Buhari has commiserated with the government and people of Tanzania over the demise of President John Pombe Magufuli. Buhari said that the late Tanzanian President’s legacy of patriotism and dedication to the African course would continue to resonate across the continent. The President, in a condolence message that was issued yesterday by his Media Assistant, Mr. Garba Shehu, expressed belief that the late Tanzanian President’s courage and love for his country inspired various reforms that generations would continue to celebrate, which include the challenging decision to reduce the size and cost of governance, insistence on a people focused budget with clear priorities on education and health, and consistently fighting profligacy and frivolities in public expenditures. He stressed that the former Tanzanian leader spent most of his life serving the country and humanity, with a rich pedigree of working as a school teacher, and rising steadily in public service as Member of Parliament, Deputy Minister of Works, Minister of Works, Minister of Lands and Human Settlement and Minister of Livestock and Fisheries.
Spahic Omer/IslamiCity
results. Salat enriches and boosts faith. While prayer often quizzes, obscures and even unsettles what Salat or Salah (prayer) is the most crucial people regard as personal and institutional faiths. It follows that the concept of salat has no commandment in Islam, performed five times a day, individually and collectively. It is the second linguistic counterparts in English and any other pillar of Islam. Yet, it is the pillar of the pillars of language. Hence, the best thing would be to adopt Islam. The entire edifice of Islam rests on it. Prophet the Arabic (Qur’anic) term and assimilate it into Muhammad (pbuh) said that between a person other languages. On account of this, some visionary Muslim scholars and polytheism (shirk) and non-belief (kufr) stand called for what could be dubbed an “Islamization abandoning salat (Sahih Muslim). Indeed, no Islam without salat; no Muslims and of English.” The reason is that a great many key Islamic identity, and no hope for a better future, concepts and ideas of Islam, when arbitrarily and without it; and, of course, no salvation on the Day inaccurately translated into English, are rendered imprecise. That contributes to the misrepresentation of Reckoning without it. The Prophet (pbuh) said that the first deed for of the image of Islam and Muslims in the eyes of which every person will be held accountable on the world. It also makes the prospect of teaching the Day of Judgment would be his salat. “If it is pure and authentic Islam, both to Muslims and good and in order, then he will have prospered non-Muslims, all the more difficult. One of those visionary scholars was Isma’il Raji and succeeded. But if it is bad or lacking, then he will be doomed and will have failed” (Jami’ al-Faruqi, who wrote a book titled “Toward Islamic English.” The book represents a segment of the al-Tirmidhi). When the Qur’an speaks in surah al-Mu’minun author’s profound philosophy of “Islamization of about the true believers, it presents their underlying knowledge.” characteristics in such a way that they begin with salat (“those who humble themselves in their salat”, Salat as an institution and a way of life al-Mu’minun, 2) and ends with it (“and those who strictly guard their salat”, al-Mu’minun, 9). Only Salat is one of those fundamental ideas that can such people will be successful and will inherit easily be misunderstood. Translating it as prayer is unfair. It alters its compass and diminishes the Jannah (Paradise) (al-Mu’minun, 1, 10-11). The same is done in surah al-Ma’arij. The scale and intensity of its meanings. For example, salat is generally translated as prayer, description of those who will be the honored ones in the Gardens of bliss (Jannah) on the Day and so is du’a. However, in the Qur’anic (Islamic) of Judgment begins with “those devoted to salat vocabulary, the two concepts are fundamentally and who remain steadfast in their salat” (al-Ma’arij, different. Thus, translating them, in the same way, 22-23) and ends with “those who strictly guard makes neither of them clear. Both of them get their salat” (al-Ma’arij, 34). All other features are garbled. Salat is much more than prayer. It is an act of sandwiched between these two portrayals. The message is clear. In the life of a believer, exemplary piety, of the affirmation of absolute salat is everything. It is his life’s heart and soul. truth, holistic worship, direct communication with, Everything starts with salat, everything revolves and total submission to the authority and will of around it, and everything, in the end, returns to Almighty God alone. Salat is not a single or isolated act. It is not a mere it. When the criminals are asked on the Day of Judgment about what led them into Hell-fire, the first ritual, rite, or a religious ceremony either. Instead, thing they will say will be: “We were not of those salat is a complex and enduring process. It is an who used to offer their salat” (al-Muddaththir, 43). inclusive institution (establishment). Its cumulative The following are some elaborate conceptual, meanings and effects connote a way of life. The five periods of a day when the five prescribed reflective, and practical tips for a better experience of salat. They aim to help us enhance the quality of prayers (salats) are performed are five points in time our physical, spiritual, intellectual, and emotional when the energies and elan vital of the physical relationship with our salat. That in turn, will and metaphysical realms come closest to each other. strengthen our affiliation with Islam as a whole. They almost converge in the consciousness and spiritual state of a believer who performs salat. It will make us better Muslims. The Prophet (pbuh) said that a person is closest to his Lord when he is prostrating in his salat. And since It is salat, not prayer salat is a form of communication and conversation At the outset, we commit a cardinal mistake. We with God, the Prophet (pbuh) advised: “So say translate salat as prayer, which is inadequate. We a great deal of du’a (prayers and supplications) (while in the state of prostration)” (Sahih Muslim). rob thereby salat of much of its substance. Prayer is generally defined as “a solemn request That may result in making the prostration lengthy, for help or expression of thanks addressed to God” which is every so often advisable. or “a religious service at which people gather to The five significant aspects of every life circle pray together.” There are several other interpretations of the concept, all of which, however, revolve around According to Fakhruddin al-Razi, every aspect of the same core. They accommodate all religions’ existence – including people’s lives – features a full conceptions and practices, revealed and non-revealed, circle that consists of five major stages or points. First is the stage of birth and joining the about deliberate communication and interactions with God and any other deities. They are in the phenomenon of existence (after which growth forms of various invocations, supplications, chants, inevitably follows). Second is the stage of attainment of perfection, which remains so for a while. The thanksgivings, praises, and meditations. The English word “prayer” is derived from Old third stage is one of elderliness and maturity when French “preier” (in Modern French, it is “prier”), severe defects start emerging. Fourth is the stage which was based on Vulgar Latin “precari”. In of death, and fifth in the post-death stage when both cases, the word means “ask earnestly, beg, some faint signs and traces of a formerly living and pray earnestly to a god, deity or saint” thing are still perceptible. However, very soon, they too disappear, leaving nothing conspicuous (etymonline.com). Undoubtedly, the word originated in pagan whatsoever about that thing. The cycle thus becomes complete. It starts with religious milieus and was advanced and refined with the maturation and spread of Christian death (nothingness), exhibits successive phases theology. It, therefore, unmistakably oozed the of life, and ends with death (nothingness) again. Everything returns to its original primordial state. latter’s rationale and fundamental nature. This cycle applies to the day as a unit of That is expected because language is generally understood to be an instrument of thought and measurement of time. The sun is God’s significant a conduit for ideas. Language and thought exist sign in the creation and its rising and setting as as an integrated whole. Language is thought, and the main events. Firstly, dawn as the first appearance of light in the thought is language. They operate in a reciprocal relationship. Irrespective of which one exactly is sky before sunrise indicates the sun’s birth and its the cause and which one the effect, language, and imminent “joining” of the rest of creation. Secondly, the sun rises until it reaches the highest position in thought are fated to rise and decline together. the sky at noon. Soon after that – thirdly - it starts declining until its power and intensity noticeably Incompatibility between salat and prayer wane in the afternoon. Fourthly, the declining process Thus, to equate the Arabic (Qur’anic) concept of then dramatically intensifies until the sun sets or salat, which is an exclusive and inimitable heavenly disappears completely (it “dies”). Fifthly, after the gift to mankind as part of God’s final monotheistic sun’s “death,” some of its traces and residues remain revelation to man, with the English idea of prayer, on the horizon for a short time (twilight), following which originated and evolved amid pagan and which they too completely disappear as if the sun Christian religious propensities and practices, is and its awesome powers were never present. In the morning, a new cycle again begins, making plain wrong. The quintessence and souls of the two are life nothing but a series of identical processes with incompatible and unable to get along. Salat identical existential stages that feature every aspect personifies truth and its actualization, whereas and component of creation. These cycles are as prayer personifies truth’s desertion, distortion, evident in the smallest and least consequential as or just a desperate quest for it. Moreover, salat in the grandest and most significant elements of is an act (process) of internalizing and enjoying creation. what was attained. In contrast, prayer is an act of To Be Continued endless seeking and probing and of miscalculated
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Group Sports Editor Duro Ikhazuagbe Email duro.ikhazuagbe@thisdaylive.com 0811 181 3083 SMS ONLY
NPFL
Nasarawa Utd Return to the Top with Big Win Against Dakkada Olawale Ajimotokan in Abuja Nasarawa United secured a deserved 3-0 win against Dakkada FC yesterday to return to the summit of the Nigeria Professional Football League (NPFL). Ikenna Offor scored a brace against the visitors from Uyo to inspire the Solid Miners to the Match-day 16 victory in Lafia. Nasarawa was on top of the Nigerian topflight for the first three weeks of the season before dropping out. A seventh minute penalty award and expertly converted by Offor kicked off the beautiful afternoon for Nasarawa.
OpSilas Nwankwo ended his nine-match goals drought to double the lead two minutes later. But Offor returned to tap home his side’s third and his personal third goal in the last three matches in the 34th minute. Elsewhere yesterday, Katsina United also defeated erstwhile leaders Rangers International 2-0 to end a five-game winless run. Rangers enjoyed hours atop the log after Kano Pillars beat former leaders, Kwara United 2-0 on Wednesday evening. Katsina, coached by Baldwin Bazuaye last won a league game on Match-day 10 at home to
Jigawa Golden Stars but found joy once again in their Matchday 16 encounter with Rangers, beating the Flying Antelopes courtesy of one goal in each half by club’s topscorer Rasheed Ahmed and winger Joseph Atule (from the spot). The win takes Katsina United out of the relegation zone for the first time in four matchdays while Rangers who went to the top momentarily after Kwara United lost to Pillars on Wednesday now drop to
4th on the log albeit on goals difference. In Thursday’s other game, Plateau United emphatically drubbed Sunshine Stars 3-1 in Jos to extend Sunshine’s winless run to nine matches. Salefu Ochowechi, Ibrahim Mustapha Yuga and Uche Onwuasonaya all scored for Plateau in the first half of the game while Kehinde Adeyemi provided some scant consolation for Gbenga Ogunbote’s dimmed Stars in the 89th minute.
In Wednesday’s games, Kano Pillars had joined themselves among the four teams hanging on to top spot with a Rabiu Ali-inspired 2-0 win over Kwara United at the Ahmadu Bello Stadium, Kaduna. Rivers United also moved one point adrift of the first four teams when two second half goals from home boys Fortune Omoniwari and Nelson Esor gave them a 2-0 win over MFM FC at the Adokiye Amiesimaka Stadium, Port Harcourt.
MATCH-DAY 16 Nasarawa
3-0 Dakkada
Plateau Utd 3-1 Sunshine Katsina Utd 2-0 Rangers Heartland
2-0 Wikki
W’Wolves
0-0 Jigawa Stars
Rivers Utd
2-0 MFM FC
Akwa Utd
1-0 IfeanyiUbah
Kano Pillars 2-0 Kwara Utd Adamawa
1-1 Abia Warriors
*Enyimba v Lobi Stars (P-P)
E U R O PA L E AG U E
Defeat Arsenal Progress, Spurs Surrender Two-goal to Crash Arsenal were given a 1-0 scare by Olympiakos yesterday but had enough from the first leg to beat the Greek side on aggregate and reach the Europa League last eight. Leading 3-1 from the game in Greece, the Gunners were comfortable throughout the first half in London. Some nerves began to show after Youssef El-Arabi’s shot found the net via a deflection off Gabriel to give the visitors hope of repeating last season’s shock - when they knocked the Gunners out of the Europa Leaguein the last 32 by scoring in the final minute of extra time at Emirates Stadium. However, Olympiakos were unable to build on El-Arabi’s goal as Arsenal managed the remainder of the tie adequately to progress, helped by a red
card shown to Ousseynou Ba for dissent late on. They will discover their quarter-final opponents when the draw is made in Switzerland at 11:00 GMT today. Elsewhere last night, Jose Mourinho’s Tottenham crumbled in Croatia and were sent crashing out of the Europa League as they surrendered a two-goal lead and lost 3-0 to Dinamo Zagreb. Mislav Orsic did the damage with a brilliant hat-trick, two goals in the second half and a fabulous third in extra-time to complete the comeback. Dinamo goalkeeper Dominik Livakovic made two late fine saves to deny Harry Kane. An away goal would have swung the tie and send Spurs through but they could not find a way back.
NSSF Organises Seminar for Sports Officers, Coordinators To keep those in charge of sports at the grassroots level with latest developments in the various sports, the Nigeria School Sport Federation (NSSF), has organised a two-day seminar on repositioning school sports through strategic management. At the opening ceremony of the seminar in Lagos during the week, the NSSF President Olabisi Joseph said there was need to impart new ideas into those in charge of sports across the country hence the essence of the seminar. “We believe that sports is a veritable tool to keep our children from social vices and for us at NSSF, we want to ensure that our students are taught the right things by those in charge of sports in our various schools across the country. “That is one of the reasons we decided to organise this seminar because the world is changing and we must also change with it especially with what obtains across the globe. “This training will help our sports coordinators and Lagos State Universal Basic Education
Board (SUBEB) officers to be in tune with what obtains globally and to make them more efficient in their various states,” Joseph said during her welcome address. In his remarks, Secretary General, NOC, Olabanji Oladapo, observed that the step taken by NSSF in the last one year has indeed positioned the federation in a good light that it wanted the best for our students in terms of sports. “We are going to partner them to organise more training for sports coordinators and we believe this kind of training would help to improve the fortune of sports in schools.” Oladapo however, hailed the collaboration between sports and education which he said was what the International Olympic Committee (IOC) has been promoting globally. Executive Chairman, Lagos State Sports Commission (LSSC), Sola Ayepekun, hailed NSSF for their deliberate efforts to change the face of school sports in the country which he said was in tandem with their ideals in Lagos State.
Mislav Orsic (right) scored Dinamo Zagreb’s all three goals that sent Tottenham out of the Europa League 3-2 on aggregate...last night
Gov. Diri Hails Pinnick’s Election into FIFA Council Egbe calls those opposed to the victory as unpatriotic Nigerians
Bayelsa State Governor, Senator Douye Diri, has described the election of President of the Nigeria Football Federation (NFF), Amaju Pinnick, into the council of the Federation of International Football Association (FIFA) as another positive milestone for Nigeria on the global scale. Governor Diri in a congratulatory message issued by his Chief Press Secretary, Mr. Daniel Alabrah, said with Pinnick, Nigeria put its best foot forward to occupy a top seat in the global football community. He stated that the NFF president has displayed remarkable passion for football development in Nigeria since assuming office and that he was not surprised that he has continued to excel as a football
Amaju Pinnick..will attend his first FIFA Council meeting in Zurich, Switzerland today
administrator. The Bayelsa helmsman, who was one-time Commissioner for Youth and Sports in the state noted that
Pinnick’s dedication has earned him a deserved recognition and elevation, urging him not to rest on his laurels. “Pinnick has shown remarkable passion for football development not only in Nigeria. I therefore congratulate him and Nigeria, which put its best foot forward to ensure he was elected into the FIFA Council. It is a deserved call to further service towards football development in Nigeria, Africa and on the global level,” concludes the governor. Meanwhile, the Chief Executive Officer of Monimichelle Sports Facility Limited, Ebi Egbe, has berated Nigerians who say there is nothing to celebrate in Pinnick’s membership of FIFA Council. A former head of Nigeria’s
players union, Harrison Jalla, had in a statement said Nigeria was only exporting corruption to the world in Pinnick whom he described as a graduate of ‘Ibori’s school of corruption’. Egbe while berating Jalla, wondered why some of the nation’s football stakeholders are hell-bent on rubbishing the country and pulling down whosoever rises to the top echelon of world football from the country. “Jalla is definitely not working in the interest of our dear country. When you criticize constructively we would know...we also know when one is only being jealous, vindictive and unpatriotic. Jalla and his co-travelers no doubt are just being petty and unpatriotic,” Egbe said.
Maiden Female Cricket League Ends with Super Four in Benin City The first female cricket league in the country, the South-south Female League is to be rounded up this weekend with the super four playoff to crown the winner of the inaugural edition in Benin-City, Edo State. Chairman of the Edo State Cricket Association and member representing the South-south Zone on the board of Nigeria Cricket Federation, Mr Uyi
Akpata yesterday described it as a milestone for the sport in the country. “This event is a landmark one for us and the country. In fact, it is the first of its kind in West and North Africa. Cricket development should not leave out any gender and since we saw the response from the girls during our grassroots project, we just felt it was ripe for a
separate platform to be created for them,” he stressed with satisfaction yesterday ahead of the Super Four Playoff. The event which is scheduled to hold from Saturday March 20th to Sunday 21st at the Edo Boys High School, Benin City will parade two top teams from each of the two zonal classifications of the preliminary rounds.
The eight-club league had featured three clubs from Edo State, two from Akwa-Ibom and one each from Rivers, Bayelsa and Delta state. All the teams were grouped in two, (Zones A and B) with each side playing from either The University of Port Harcourt cricket pitch in Rivers State or Iyoba College in Benin-City, Edo State.
FA Cup Q’Finals LIVE on GOtv This Weekend!
GOtv football fanatics are in for an exciting weekend with selected matches from the 2020/21 FA Cup quarter final clashes scheduled for Saturday and Sunday are to air live on SuperSport. The pick of matches from this weekend’s FA Cup action sees
Everton host Manchester City at Goodison Park on Saturday, 20th March at 6:30pm on SuperSport Football (channel 31). This will be the first FA Cup meeting of these teams since 1981 and a first knockout game between them since the
Citizens put the Toffees out of the 2015-16 League Cup. The next match to look forward to is the last quarterfinal match which is a potential thriller between Leicester City and Manchester United at the King Power Stadium on Sunday, 21st March
at 6pm LIVE on SuperSport Football (channel 31). These two teams have had little between them in recent seasons and the Foxes will be eager for revenge after United ousted them from the final UEFA Champions League place at the end of last season.
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FRIDAY MARCH 19, 2021 ˾ T H I S D AY
FridaySports U E FA C H A M P I O N S L E AG U E
Tuchel Makes Chelsea Contenders Even as Bayern, City are Favourites As the draw tor the quarter final fixtures for this term’s UEFA Champions League takes place today, Chairman of Juventus who also doubles as the head of the European Club Association, Andrea Agnelli, will sadly miss his Old Lady’s from the midst of top clubs in the continent. Agnelli is pushing for the
expansion of the group stage of the foremost club competition in the globe to 36 teams. Juve were handed a shock last-16 defeat by Porto. Thomas Tuchel who was sacked by Paris Saint-Germain in December despite winning a Champions League group also containing RB Leipzig and
Spanish Federation Confirms Copa del Rey Final Without Fans The Spanish Copa del Rey final postponed since last year will be played without fans, the country’s football federation confirmed yesterday. Reports in Spain had suggested a 20 to 25 per cent-capacity could be allowed for the match in Seville next month between Basque rivals Athletic Bilbao and Real Sociedad. The final was postponed last year because of the coronavirus pandemic and then put off to 3 April, in the hope supporters could attend the much-anticipated derby. But the federation has said the final will still take place behind closed doors, with travel restrictions in Spain ensuring local Bilbao and La Real fans would not be able to go. A statement from the federation said the regional Health Ministry in Andalusia had identified a “moderate risk” if the fixture was opened up to the public. It added: “The current situation with the virus and the established measures that ensure the restriction of travel, including for both the autonomous community of Andalusia and the province of Seville, mean it would not be feasible for fans not living
in the province to attend the game.” The federation are still to confirm whether this year’s Copa del Rey final between Athletic Bilbao and Barcelona will also go ahead without fans. That game is scheduled to take place on 17 April, two weeks after the 2020 final, also at La Cartuja stadium in Seville. Suggestions that supporters could be allowed to attend the finals were rejected on Wednesday by Spanish Health Minister Carolina Darias. “Let me be clear and blunt. It is not appropriate. It is not timely and it is not convenient,” Darias told a press conference. The Covid-19 infection rate has increased slightly in several regions recently which may mean that a weeks-long decline in the national infection rate has bottomed out, she added.
We are in the last eight which is already a big step. From there on we go, there is no need to be afraid, we will take what we get and will prepare in the best way possible,” Tuchel said on Wednesday. Chelsea’s 2012 Champions League triumph came after they changed manager mid-season and Tuchel will be determined to go one better than last season, when PSG lost to Bayern Munich in the final. A reunion with PSG in the next round would be fascinating, and not one the French club would likely welcome as they struggle to impress under Tuchel’s successor Mauricio Pochettino, their 4-1 win in Barcelona aside. There are six former winners in the last-eight draw today, with
a total of 29 European Cups between them. Only Manchester City among the quarter-finalists have never reached the final, but they look formidable: Pep Guardiola’s team have won 24 of their last 25 games and are chasing an unprecedented quadruple. Perhaps the only thing counting against them is the growing pressure to win the trophy after quarter-final exits in the last three years. “Since the first year I arrived they told me that you have to win the Champions League,” Guardiola admitted after his side beat Borussia Moenchengladbach. With Liverpool also still alive, England have three representatives in the draw, yet Bayern -- with 18 wins and one draw in 19 Champions League
games since the start of last season -- remain the team to beat. Defeats for Juventus and Atalanta mean there is no Italian team in the last eight for the first time since 2016, and Porto, despite eliminating Juve, are surely the side most teams would prefer to face. The Portuguese champions have lifted the trophy twice before and are regulars on Europe’s biggest stage, but given how much money talks at this level it would be a huge surprise if they went any further. Porto are way down the list of the continent’s richest clubs and a recent KPMG Football Benchmark report put their income last year at €87.3 million, less than a quarter that of Dortmund, the club closest to them financially.
EUROPA (Round of 16) Arsenal 0-1 Olympiacos(Agg 3-2) D’Zagreb 3-0 Tottenham (Agg 3-2) Molde 2-1 Granada (Agg 2-3) Shakhtar 1-2 Roma (Agg 1-5) AC Milan 0-1 Man Utd (Agg 1-2) Rangers 0-2 S’Prague (Agg 1-3) Villarreal 2-0 Dy’ Kyiv (Agg 4-0) Young Boys 0-2 Ajax (Agg 0-5)
Salah, Trezeguet Listed in Pharaohs’s 28-man Final Squad Premier League players Mohamed Salah of Liverpool, Trezeguet of Aston Villa and Mohamed Elneny of Arsenal all feature in the 28-man squad for the Pharaohs’ final qualifying matches for the Africa Cup of Nations. Egypt are currently top of Group G with eight points, and only need a draw in Kenya or a win at home against Comoros to guarantee their place in Cameroon next year. There are also recalls in the squad for Mostafa Fathi - who last played international football in 2017 - and Mohamed Farouk, whose only cap so far was in 2014. In all 22 of the 28 players are based in Egypt’s domestic league. However, Egypt have not been hit by the same problems that other African countries are anticipating with procuring players from their clubs for these qualifying games. All players from the French Ligue 1 and 2have been restricted from travelling outside of the
Manchester United made the most impact this week In January he joined Chelsea and the impact the German has had in seven weeks has been remarkable. On Wednesday the Blues saw off La Liga leaders Atletico Madrid 2-0 at Stamford Bridge to win their last-16 tie 3-0 on aggregate. Tuchel took over a side struggling for consistency under Frank Lampard and immediately turned them into a supremely disciplined unit that has conceded just two goals and remains unbeaten in his 13 games in charge. They made Diego Simeone’s Atletico look thoroughly ordinary in both legs and few teams will relish the prospect of facing Chelsea in the last eight. “We feel that we deserve this.
European Union due to the amount of time required to spend in quarantine on their return. Egypt squad Goalkeepers: Mohamed ElShennawy (Al Ahly), Mahmoud Gennesh (Zamalek), Mohamed Bassam (Tala’a El-Gaish), Amer Amer (Ceramica Cleopatra) Defenders: Mohamed Hany, Ayman Ashraf, Yasser Ibrahim (Al Ahly), Omar Gaber, Ali Gabr, Ahmed Ayman Mansour (Pyramids), Ahmed Fetouh, Mahmoud El-Wensh (Zamalek), Ahmed Hegazi (Ittihad Jeddah). Midfielders: Mohamed Elneny (Arsenal), Amr El-Sulya, Hamdi Fathi, Mohamed Magdy Afsha (Al Ahly), Tarek Hamed, Ahmed Sayed Zizo (Zamalek), Trezeguet (Aston Villa), Mohamed Farouk, Islam Issa (Pyramids), Mostafa Fathi (Smouha) Attackers: Mohamed Salah (Liverpool) Mostafa Mohamed (Galatasaray), Hossam Hassan (Smouha), Ahmed Yasser Rayan (Ceramica Cleopatra), Mohamed Sherif (Al Ahly).
Chelsea who knocked out Atletico from the Champions League with goals by Ziyech and Emerson have suddenly become contenders under Thomas Tuchel
France’s Ligue 1 Travel Ban on Players Hit AFCON 2022 Qualifiers
The squads for countries facing crucial qualifiers for the Africa Cup of Nations will be hit after all players in the top two divisions of French football were banned from leaving Europe. The 40 clubs from Ligue 1 and 2 agreed unanimously to prevent their players from leaving the EU and the European Economic Area, because of the quarantine period they would have to undergo on their return to France due to fears of Covid-19 transmission overseas. While upcoming South American qualifiers for the 2022 World Cup were last week postponed to allay such fears, the critical African Cup of Nations games were not. “In the absence of an exemption for foreign
Liverpool’s Mohamed Salah (right) and Trezeguet of Aston Villa who are coming from England are not affected by the travel restrictions
international players made available to their national team, and in view of the response times imposed by international regulations, the clubs of Ligue 1 and Ligue 2 have decided to unanimously apply the FIFA circular of February 5, 2021
taking into account the many travel restrictions in the world,” a statement from the Ligue de Football Professionel said yesterday. “In this context, the clubs will not make available for selection the foreign players summoned
for matches outside the EU /EEA zone during the next international period in March.” The two rounds of fixtures to be played between 24 and 30 March will determine the 24 teams who will travel to Cameroon in January 2022. The news will undoubtedly leave many coaches scrambling to fill their squads. A large percentage of African internationals - particularly those from French-speaking countries such as Senegal, Cameroon and Ivory Coast - all African footballing powerhouses - play their club football in France. Benin’s head coach Michel Dussuyer has already said he was struggling to pull together enough players for their matches against Nigeria and Sierra Leone.
Wimbledon 2021 Plans Reduced Capacity This summer’s Wimbledon championships is likely to go ahead with a reduced capacity crowd, organisers have said. The Grand Slam is set to start on 28 June, seven days after Covid restrictions are due to end in England. Tournament chiefs said they would react to changing circumstances which may result in an increase or decrease in numbers allowed in the
grounds. The overall attendance for the 2019 Wimbledon event - the last to be held - was 500,397 over the 13 days. Organisers did not specify how many tickets will initially be available for the forthcoming competition. A statement from Wimbledon added: “We want to ensure that we can leave decisions on public capacity as late as
we can in order to welcome the maximum number of guests, and manage our ticket distribution accordingly.” Tickets for this summer’s tournament will be made available online in June, however there will be no reselling within the grounds and therefore the familiar sight of the ‘Wimbledon queue’ will not be visible this year. “Both the queue and ticket
resale remain much-loved and important traditions and we look forward to their return in 2022,” added the statement. Wimbledon also announced that players and their support teams, and officials, will have to stay in official hotels rather than private housing as a “mandatory requirement” of entry. Invitational (legends) doubles will also be absent from this year’s tournament.
Friday March 19, 2021
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“We are perturbed that people who claim to be civilised are disrespecting the rule of law. CAN is to blame for all these. It is a big shame that in 21st century Kwara, CAN is turning its members against democratic norms, against the rule of law” – Muslim Rights Concern carpeting the Christian Association of Nigeria for its role in the hijab crisis in Kwara State.
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OKEYIKECHUKWU Revisiting Seplat, After Six Years EDIFYING ELUCIDATIONS
okey.ikechukwu@thisdaylive.com
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istory was made, nearly a decade ago, in the oil and gas and financial services industries, with the simultaneous listing of the ordinary shares of Seplat Petroleum Development Company Plc on the main market of the London Stock Exchange (“LSE”) (LSE:SEPL) and the Nigerian Stock Exchange (“NSE”) (NSE:SEPL). The other leg of Seplat’s bold move was the plan to use the balance of most of the net proceeds of the global offer for acquiring and developing new acquisitions of oil acreages, and/or paying down any additional debts arising therefrom, especially with regards to onshore and shallow offshore acreages, assets and/or joint venture farm-ins. The then fast-growing indigenous oil and gas company, which presented a leading front in oil and gas exploration and production, with a strategic focus on Nigeria, set out to raise at least $500 million through the initial public offer (IPO) that would be used to fully repay its shareholders’ loan of $48 million to Maurel et Prom of France. It was to later acquire 45% participation interest in, and was appointed Operator of, a portfolio of three onshore producing oil and gas leases OML4, 38 and 41. It has more than tripled the operation of these OMLs, since acquisition. Back in 2014 when this page said that Seplat “enjoys the rare distinction of being the first Nigerian company operating strictly in the upstream oil and gas sector to be simultaneously listed on the London Stock Exchange (LSE), as well as the Nigerian Stock Exchange (NSE),” the celebratory write-up, “Dangote, Seplat and Who Next?” was urging Nigerian big firms to follow bold examples and register viable presence in the global economic space. Seplat’s move was then described as: “…suggestive of not just credibility but pedigree and strategic positioning for global relevance. No company becomes a player in the global business environment because the government likes or dislikes it. It is an inclement environment, where no one gets piggy backed across tough terrains. If anything, those who make it unto the platform must break out of the protection and restricting paradigms of particularistic national economies… the core focus of the strategic footwork is to expand the economic space and create opportunities (not charities) for a mix of competent players.” One major feature of the global economic space is that it tolerates only serious economic actors and commercial interests with good governance templates. It is for players with proven capacities for creating, drawing and redrawing new boundary lines in product and service quality, as well as service delivery. Seplat’s continued relevance (especially with its 2020 balance sheet) is defined by measurable contributions and verifiable impact. The news is that the company has always had a sound corporate governance framework, as well as an organizational culture that rests squarely on a board of directors and management team with very commendable records. This, perhaps, explains its many successes under the rigorous scrutiny of the UK’s Financial Conduct Authority (FCA). Notwithstanding this fact, the firm was recently in the news over some alleged debt with a related company. The curious thing in the, perhaps contrived, media controversy is that a man who is not owing a company in which he has equity, who received no dividends, who took no pay or loans from the company, who is not part of the board and management and who even lost money in the venture is
ABC Orjiako being arm-twisted to take responsibility for what falls outside his plate. A quoted public liability company is always guided by laws regarding its dealings and relationships with its subsidiaries. The very definition, and treatment, of debt is part of the deal and the courts are looking into the matter. But Seplat is not new to controversy at all. Relatively early in the life of the company, it was wrongly mentioned in a media report about irregularities in the granting of Pioneer Status Incentive to “undeserving companies by NIPC between 2010 and 2014, leading to a revenue loss of $20 billion.” The authorities looked into the matter and quickly came out with a Statement of Exoneration for Seplat jointly signed by the Nigerian Export Promotion Council (NIPC), the Federal Inland Revenue Service (FIRS), the Ministry of Trade and Industry (MITI), and the Revenue Mobilisation and Fiscal Commission (RMAFC). The processes leading up to the granting of Pioneer Status Incentive to over 400 Nigerian companies, including Seplat, was thereby diligently explained and clarified. The government further showed that the “publication did not distinguish between pioneer status from other forms of fiscal incentives” and that the Pioneer Status Incentives granted to Marginal Oil
Field Operators/Nigerians owned oil companies is in line with the Local Content policy of the government to promote Nigerian Content Development, local capacity and capabilities. It noted, further, that there was no loss of $20 billion, describing the figure as unrealistic, purely speculative and lacking in any material basis whatsoever, given the existing financials at the time. The joint statement wondered and noted as follows: “The motive behind the publication is difficult to understand, yet it remains very disturbing when one considers its negative impact on the reputation and integrity of the highly reputable Nigerian company, Messrs Seplat Petroleum Development Company Plc that had attained the enviable status of being listed and successfully trading in the Nigerian and London Stock Exchanges” For the record, the Approval from the NIPC, regarding the Pioneer Status incentive, was found to have been duly and properly conveyed to Seplat, indicating Corporate Tax Holiday on eligible product/service, for five years. This was also found to have been duly followed by a letter from the FIRS and the Ministry of Trade and Industry conveying same. The application was made in 2013, while the Pioneer Status was granted in February 2014, with the FIRS in tow. Seplat’s credibility has since made substantial mileage from the fact that the savings the company has from tax incentive has been utilized in driving dramatic increase in gas supply to the domestic market, as over $300 million in gas development occurred within the tax holiday period granted by the federal government. The company also recorded substantial increase in oil production, from 14,000 barrels in 2010 to 70,000 in 2015 alone. Add the foregoing to the conspicuous upward movement of Royalty payments from $40 million in 2010, to $145 million in 2014, as well as continued funding of the NPDC/Sepalt JV, despite huge outstanding cash calls. There are also records of job creation and community development, with over 300 new jobs. The multiplier effects of Seplat’s over $700 million which has gone into the system through Nigerian contractors brought in another 1000 jobs. This boils down to aggressive reinvestment of proceeds, significant increase in oil and gas production and the tripling of Royalty and tax payments, as well as, post Pioneer Status.
Notwithstanding this fact, the firm was recently in the news over some alleged debt with a related company. The curious thing in the, perhaps contrived, media controversy is that a man who is not owing a company in which he has equity, who received no dividends, who took no pay or loans from the company, who is not part of the board and management and who even lost money in the venture is being arm-twisted to take responsibility for what falls outside his plate
The company’s 2020 full year financial results show that, notwithstanding the fact that the year was a challenging one, Seplat demonstrated resilience, creative management and an admirable ability to break new grounds, against all odds. Its ability to perform well and deliver relatively above par on production, in line with guidance and despite operating with minimal incidences of COVID-19 cases, say a lot. It is a matter of record that the company invested in Asa North and Ohaji (ANOH) and voluntarily paid down $100 million of debt from the $330 million of cash generated from operations. Seplat’s current sheets shows an increase in capital investment, despite facing the lowest oil prices in its 10-year history. It has not yet failed to honour its commitment to shareholders, ensuring a regular income stream on their investment and maintaining shareholder trust and loyalty. Among other things, the company has final dividend of $0.05 per share recommended ($0.10/share for full year), operating profit of $121 million (before non-cash impairments and unrealized fair value losses), a strong cash position of $259 million after $100 million RCF repayment, among other positives. The other positives include liquids production of 33,714 bopd, gas production of 101 MMscfd Low unit cost of production at $8.90/boe, with cost-cutting initiatives ongoing, particularly at OML40/Ubima. Seplat has drilled/completed nine wells and brought eight onstream in 2020. There is also the creation of New Energy unit to manage gas processing and future low carbon to zero carbon initiatives, as well as the AGPC financing signed in February 2021, $260 million raised, with commitments for $450 million. Furthermore, the Board Directive to eliminate Related-Party Transactions by end of 2021 holds the prospect of a rebirth of sorts. The company is now looking at a full-year production guidance of 48-55 kboepd, subject to market conditions; with a focus on gas projects and an exploration well to meet reserves replacement targets. The company knows that gas is the lowercarbon feedstock for affordable electricity, especially with Nigeria’s galloping demographics. Seplat is quietly leading the country away from huge expenditures on imported, expensive, highemission diesel-generated energy. Its desire to present the necessary baseload for a functioning electricity grid that will promote and project renewable energy, the way it exists in more technologically advanced nations, is a project on its own. The ultimate goal is to create a balance between environmental sustainability and the social agenda of a growing modern state; as Nigeria transits in its energy needs and use. The flagship ANOH project is now fully funded. Seplat has made visible giant strides in these trying times. Major gas processing units are expected to arrive in the third quarter of this year and installation is to commence before the end of the year. The mechanical completion and pre-commissioning is expected to take place in the first quarter of 2022, with the first gas flow to customers is expected to commence within the year. All said, and after nearly seven years of full operations here and beyond our shores, Seplat Petroleum Development Company Plc has given a good account of itself, by providing shared values to the industry, the nations and to its stakeholders. As for questionable controversies, they usually collapse when confronted by the truth.
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