WEDNESDAY 24TH MARCH 2021

Zenith Emerges Best Bank in Nigeria Back-to-Back Dike Onwuamaeze Zenith Bank Plc has emerged as the Best Bank in Nigeria in the Global Finance Magazine’s Best Banks Awards 2021, retaining the award for a second consecutive year.

The bank was among other

banks from 35 countries in Africa recognised as the United States magazine announced its 28th Annual Best Bank Awards Winners in Africa.

According to a statement, editors of the magazine made the selections after consultations with corporate

financial executives, bankers, banking consultants and analysts worldwide.

In selecting the bank, Global Finance considered factors that ranged from the quantitative objective to the informed subjective in selecting these top banks.

Objective criteria considered included: growth in assets, profitability, geographic reach, strategic relationships, new business development and innovation in products.

Subjective criteria included the opinions of equity analysts, credit rating analysts, banking

industry, with winners chosen in 150 countries and territories across Africa, Asia Pacific, the Caribbean, Central America, Central & Eastern Europe, Latin America, the Middle East, North America and

consultants and others involved in the industry.

Global Finance’s “Best Banks Awards” are recognised amongst the world’s most influential banking/finance and corporate professionals as the most coveted and credible awards in the banking

Continued on page 8

Emefiele: Worsening Insecurity Limiting Successes in Agric Interventions... Page 6 Wednesday 24 March, 2021 Vol 26. No 9481. Price: N250

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Military Combs Benue Forest in Search of Ortom’s Attackers

I have no reason to fake my attack, says gov Warns 2023 election won’t hold if insecurity persists Go after group threatening Ortom, House tells DSS, police Deji Elumoye, Adedayo Akinwale in Abuja and George Okoh in Makurdi The military yesterday stepped up efforts in hunting down gunmen, suspected to be herdsmen, who attacked Benue State Governor, Dr. Samuel Ortom, last Saturday, as troops combed forest and mounted surveillance around

areas considered to be security flashpoints in the state.

Commander of Operation Whirl Stroke (OPWS), Maj. Gen. Adeyemi Yekini, told reporters at the scene of the attack near Tyo-mu, along Makurdi-Gboko highway that troops had been deployed in the area and are currently Continued on page 8

Frustration Breeding Calls for Secession, Says Fayemi Emmanuel Addeh in Abuja Ekiti State Governor, Dr. Kayode Fayemi, yesterday attributed the rising separatist movements in the country to frustration arising from the disenchantment of the agitators with the perceived failure of government to meet their aspirations.

Fayemi spoke on The Morning Show, the flagship breakfast programme on

ARISE NEWS Channel, the broadcast arm of THISDAY Newspapers and cautioned those advocating the breakup of Nigeria to drop the campaign as secession will not address the multifarious challenges confronting the nation.

The governor, who is also the chairman of the Nigeria Governors’ Forum (NGF), said Continued on page 8

NEW BROOM...

President Muhammadu Buhari (left) and Chief of Defence Staff, Gen. Lucky Irabor, during a security briefing for the president in Abuja…yesterday

Buni: APC Plans to Rule Nigeria for 32 Years...Page 5

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

Buni: APC Plans to Rule Nigeria for 32 Years June date for national convention feasible, says Badaru

Adedayo Akinwale in Abuja Chairman of the National Caretaker/Extraordinary Convention Planning Committee of the All Progressives Congress (APC), Mr. Mai Mala Buni, yesterday unfolded plans by the party to rule Nigeria for 32 consecutive years.

Buni, who is also Yobe State governor, said at the inauguration of the party’s Strategy and Contact Committee in Abuja, that the long rule would ensure the effective implementation of the party’s manifesto aimed at improving the lives of Nigerians as well enable the APC to remain Nigeria's leading political party.

Buni said: "The vision of the party is to provide a wheel that would drive the party to go beyond 6th, 7th and even 8th terms of office to effectively implement the party manifesto, improve the lives of Nigerians and, remain Nigeria's leading political party."

He stated that the party set up the committee as part of the collective drive to recover, rebuild and reposition APC. According to him, the caretaker committee has within its establishment recorded genuine reconciliations and settled irreconcilable differences among critical stakeholders of the party.

“As l said earlier, if you don't manage your crisis, your crisis will manage you.

I am happy to say that the committee is running an all-inclusive administration, giving all stakeholders and

indeed our members the opportunity to contribute to the onerous task of rebuilding the party," he said.

Buni noted that the committee has continuously engaged party members to serve in various committees as a way of managing the crisis within the party.

He attributed the achievements recorded within this period to the support and cooperation the committee is enjoying from party members.

This, Buni added, has translated into the return of stakeholders and their supporters who had earlier left the party, while the party's efforts in wooing members of other political parties into APC have been successful.

He also identified another major milestone the party recorded as the membership registration and revalidation.

Buni stated that the membership drive would provide the ruling party with the numerical strength, and serve as a guide towards planning.

"Similarly, the review of the party's constitution would take care of ambiguous positions and loopholes that have caused confusion and controversies over the years. This will make our party dynamic and to be in tune with changing times," he explained.

He said the constitution of the strategy and contact committee was to consolidate on the achievements in building a strong party with a solid structure that would make the APC stand the test of time.

He added: "This committee is, therefore, very key to our process of transition towards successful congresses and national convention and, to establish a very solid, reputable and reliable future for the party."

Buni stated that the composition of the membership of the committee was not done on a state-bystate basis, but on merit and competence.

He listed the terms of reference for the committee to include, establishing constructive engagements

between critical stakeholders at various levels of the party with a view to reviving confidence and trust among party leaders; conducting a need assessment survey from party members and the general public and creating a statement of vision, mission and core values of the party that will foster unity.

The committee is also to develop strategies to reposition the party; develop a timeline and framework for the implementation of the recommendations of the committee; co-opt such members as may be deemed

most suitable and submit periodic reports to the national chairman.

Chairman of the committee and the Governor of Jigawa State, Mr. Abubakar Badaru, told reporters after the inauguration that the national caretaker committee is committed to conducting the national convention in June despite the rumour about tenure extension.

He added that his committee would do its best to increase the party's base and its contacts by bringing in more people into the party.

The governor, however, allayed the fear of Nigeria being a one-party state, saying there would always be opposition.

Asked if June is feasible for the national convention, Badaru said the caretaker committee would be supported to keep to the June date.

He stated: "It is very feasible.

I know the national caretaker committee is committed to delivering in June. And we will support them and do whatever it takes to make sure we deliver by June."

DISCUSSING TRADE...

Minister of Industry, Trade & Investment, Chief Adeniyi Adebayo (left), and Lagos State Governor, Mr. Babajide Sanwo-Olu, during AfCFTA National Action Committee's courtesy visit to the governor in Lagos…yesterday

FG Backs Labour's Agitation against Decentralisation of Minimum Wage Onyebuchi Ezigbo in Owerri The organised labour yesterday secured a major ally in the federal government in its battle against the National Assembly over a bill seeking to decentralise national minimum wage negotiations.

Minister of Labour and Employment, Senator Chris Ngige, at the inaugural meeting of the newlyconstituted National Labour Advisory Council (NLAC) in Owerri, Imo State capital, said the government's position was based on the need to comply with the International Labour Organisation (ILO) Convention 144 to which Nigeria is a signatory, and which seeks to promote tripartite dialogue in the resolution of national minimum wage agitation.

According to the ILO Convention 144, the right of employers and workers to establish free and independent organisations to promote effective consultation and tripartite dialogue at the national level between public authorities and employers' and workers' organisations as a means of resolving the industrial dispute is a global standard.

Ngige stated that the federal government would support labour in its agitation against national minimum wage decentralisation because it believed in the principle of tripartite social dialogue.

Apparently responding to the call by organised labour on the federal government to help stand down the bill proposing to move national minimum wage from the exclusive list to the concurrent list, Ngige

said: "Mr. President of NLC, you didn’t need to thank me for what I said about the minimum wage bill because I was reechoing what the Nigerian government stood for by adopting the ILO Convention 28, the Minimum Wage Fixing Machinery Convention of 1928 (No.26) and the Minimum Wage Fixing Convention of 1970 (No131). From these conventions, the Minimum wage Act was signed in 1981.

So, I am with you 100 per cent but I don’t want you to go on strike on that.”

Ngige also spoke on the effects of the global economic crisis and the resultant unemployment challenge in the country, saying that the federal government is tackling the issue, especially job losses.

According to him, as part of efforts to ensure industrial peace, through regular and

timely social dialogue, the government has reconstituted the membership of NLAC. Ngige added that the importance of NLAC include ensuring mutual dialogue between government, private sector employers and workers.

Also, NLAC has a critical role to play in promoting and ensuring best practices of labour administration in line with the international standards.

On the fallout of the current economic and unemployment crises, the minister said: "This government is committed to stemming the current negative effects of the global financial and economic crisis on employment by strengthening the machinery of tripartism and social dialogue in the world of work."

Ngige said the ministry

was pushing for the passage of the Labour Institutions Bill to enhance the status of NLAC and reposition it to effectively discharge its responsibilities.

Earlier, the President of the Nigeria Labour Congress (NLC), Dr. Ayuba Wabba, had welcomed the position of the federal government not to accept moves to remove the national minimum wage from the exclusive list.

He said: "The national minimum wage has been in operation in the last 40 years and has always been mutually renewed by social partners. We consider it an act of great irresponsibility for a state governor to impugn on this long-standing instrument of law for narrow and selfconceited objective."

Wabba and his Trade Union Congress (TUC)

counterpart, Mr. Quadiri Olaleye, used the opportunity to warn against what they described as rising human and trade union rights violations in the country.

They urged the government to widen the social security net for workers and the people in view of the current economic difficulties.

While welcoming participants at the event, the Permanent Secretary of the Federal Ministry of Labour and Employment, Mr. Yerima Tarfa, said the meeting of the council was part of government's strategy to strengthen collaboration between social partners and government at federal and state levels to achieve solutions to labour disputes and enthrone lasting industrial harmony in the country.

IMF May Revise Higher Nigeria’s Growth Forecast Obinna Chima with agency report The International Monetary Fund (IMF) is likely to revise higher its growth forecast for Nigeria, its Mission Chief to Nigeria, Jesmin Rahman, said yesterday.

Reuters quoted Rahman to have said the country’s surprise exit from recession in the fourth quarter would aid its economic outlook for the coming year.

“It wasn’t as bad as we expected,” Rahman said of the country’s 2020 recession.

Rahman did not put a figure on the 2021 growth overall, but said the medium-term growth rate could return to 2.5 per cent.

The IMF previously projected 1.5 per cent growth for 2021.

The IMF had in January

projected that the Nigerian economy would grow by 1.5 per cent this year, slightly lower than the 1.7 per cent it had predicted for the country in its previous forecast.

The multilateral institution had in its WEO titled: ‘Policy Support and Vaccines Expected

to Lift Activity,’ however, predicted that in sub-Saharan Africa, growth will strengthen to 3.2 per cent in 2021 and 3.9 per cent in 2022.

It had also expected oil prices to average above $50 per barrel in 2021, a more than 21 per cent rise from 2020’s

depressed level on the back of the rollout of vaccines and fiscal stimulus programmes.

IMF stated that the updated version of the report was reviewed in line with the emergence of a new variant of coronavirus, which poses a concern for global recovery.

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ACCOUNTING TO SHAREHOLDERS...

L-R: Independent Non-Executive Director, Ms. Sutura Bello; Group CEO, Mr. Peter Ashade; Non-Executive Director, Mr. Emmanuel Nnorom; General Counsel, Mr. Leo Okafor; and Group Executive Director, Mr. Sunny Anene, at the Annual General Meeting of United Capital Plc in Lagos…yesterday

Emefiele: Worsening Insecurity Limiting Successes in Agric Interventions CBN releases $80m weekly to meet forex demand Retains MPR at 11.5%, LCCI hails decision James Emejo in Abuja and Dike Onwuamaeze in Lagos The Governor of the Central Bank of Nigeria (CBN), Mr. Godwin Emefiele, yesterday expressed concerns that the worsening insecurity in the country, particularly in food-producing areas is limiting expected outcomes and further fuelling food inflation.

He added that as part of measures to address forex challenges, the apex bank disburses not less than $80 million weekly to banks either for personal travels (PTAs) or business travels or payment of school fees.

He spoke in Abuja at the end of the two-day meeting of the Monetary Policy Committee (MPC), which resolved to leave all monetary policy parameters unchanged.

The MPC retained the Monetary Policy Rate (MPR), otherwise known as interest rate, at 11.5 per cent.

The Lagos Chamber of Commerce and Industry (LCCI) hailed the bank’s decision to retain the 11.5 per cent interest rate.

Inflation, which increased for 18 consecutive months, stood at 17.33 per cent in February.

Emefiele, while reading the communiqué after the MPC meeting, stated that the rise in inflation has continued to be attributed to the increase in both the food and core components of inflation, which rose to 21.79 per cent and 12.38 per cent in February, respectively, from 20.57 per cent and 11.85 per cent in January.

He said: "This persisting uptick in food inflation, however, was the major driving factor to the uptick in headline inflation.

"This was due to the worsening security situation in many parts of the country, particularly, the food-producing areas, where farmers face frequent attacks by herdsmen and bandits in their farms”.

He said while the apex bank was intervening in the agricultural sector, the rising insecurity in some

food-producing areas had limited the expected outcomes in terms of supply to the market, thereby contributing to the rise in food prices.

He added that contrary to reports, Nigeria has not altered its foreign exchange management policy.

The clarification came against the backdrop of recent media reports that the CBN had adopted a flexible forex regime.

But Emefiele insisted that the country has not changed from its foreign exchange management policy of managed floating.

He said: "Nigeria still remains on a managed float.

What does a managed float regime mean? That the CBN, being the institution that has a core mandate for foreign exchange management in the country, we will run the market, see how the market operates, depending on its reading of how the exchange rate moves in the market, we will come from time to time to intervene in the foreign exchange market."

The CBN has resolved to leave the interest rate at 11.5 per cent with the asymmetric corridor of +100/-700 basis points around the MPR. Emefiele said the decision to hold the rates at their current levels, despite rising inflation, followed the need to consolidate on growth, given that the economy had just crawled out of recession.

He said conscious of the persisting inflationary pressure fuelled largely by a continued uptick in food prices, the MPC noted the CBN's interventions to boost food production, particularly through its various agricultural programmes among other complementary measures, including an increase in disbursement for the dry season agricultural programme to increase output among others.

In arriving at its decisions to hold rates, Emefiele said the MPC was confronted with a dilemma on whether to continue to focus on efforts to stimulate outputs or whether to focus on reining in inflation.

He added that the committee was also worried that the level of unemployment must be addressed swiftly to moderate the restiveness among the populace.

According to him, members believed that given that the exit from recession is fragile, any decision to tighten or rein-in inflation may reverse the fragile recovery and plunge the economy back into recession.

However, he said, the consensus among MPC members was that given that inflation is substantially a supply-side phenomenon, there is a need to continue to focus on consolidation of the recovery process by taking actions that continue to stimulate output growth, create employment but at the same time have an eye on the effort to moderate the inflationary pressure, using the current administrative measures being adopted by the bank in controlling monetary aggregates in the banking system.

He said with consideration of whether to tighten, hold or loosen, therefore, the committee felt that with inflation at a three-year high and price stability being the bank’s core mandate, a contractionary policy stance might be required to tame the rising trend.

But he said MPC members felt that tightening monetary policy would hike the cost of capital and hamper investments required to create employment and to boost economic recovery.

He added that the committee noted the moderate recovery in output growth in the fourth quarter of 2020, associated mainly to the positive impacts of the several monetary and fiscal measures implemented to reflate the economy, following the negative consequences of the COVID-19 pandemic.

Also, reacting to reports of the scarcity of forex in deposit money banks to meet school fees obligations, the CBN governor called on Nigerians not to panic, assuring them that all "foreign currency obligations

will be met."

He said the apex bank disbursed not less than $80 million to the banks weekly either for personal travels (PTAs) or business travels or payment of school fees.

According to him, the CBN is making efforts to decide on how to create a complaints desk for people to report their inability to access forex for school fees payment from banks.

Emefiele said: "I repeat, there is no need for anybody to panic. Luckily we have exited recession; so, that's one positive. Two, crude prices are moving up; three, we are aggressively focusing on Diaspora remittances; four, we are looking to how to encourage foreign investors into the country.

"So we are very optimistic that there's enough and there will continue to be enough foreign exchange for people to meet their obligations. We just need people to be patient.

"And I am also saying so again that if you have any foreign currency obligation, your obligations will be met. There's no need for everybody to rush to the door at the same time, creating panic and giving speculators the opportunity to reap us off."

On concerns that the prices of food items, particularly rice, have continued to increase despite a bountiful harvest, the CBN governor said the prices had reduced compared to the period of scarcity caused by the COVID-19 pandemic.

MPC said while vaccination against COVID-19 had gained significant grounds in major advanced economies, some emerging market and developing economies were yet to commence vaccination.

Emefiele expressed concern that the global disparity in vaccination could impair recovery to global growth, as barriers to trade and the global supply chain, could remain in place much longer than anticipated to prevent reinfection in countries that have achieved significant

vaccination and herd immunity.

Emefiele said the committee noted the disbursement of N107.60 billion to 548,109 farmers cultivating 703,619 hectares of land between Q4 2020 and Q1 2021 to boost dry season output in support of agricultural value chain development.

According to him, total disbursements as of February 2021 amounted to N1.487 trillion under the various agricultural programmes, of which N686.59 billion was disbursed under the Commercial Agricultural Credit Scheme (CACS) and N601.75 billion under the Anchor Borrowers Programmes (ABP) to 3,038,649 farmers to support food supply and dampen inflationary pressures.

He added that under the Targeted Credit Facility, the apex bank disbursed N218.16 billion to 475,376 beneficiaries, of which 34 per cent of them are SMEs. Under AGSMEIS, N111.62 billion was disbursed to 28,961 beneficiaries, 70 per cent of which are in the agricultural sector.

The CBN governor stated that under the Creative Industry Financing Initiatives mainly targeted at youths, N3.19 billion has been disbursed to 341 beneficiaries, of which 53 per cent is to the movie industry.

He said: "Under the National Mass Metering Programme, N33.45 billion has been disbursed to nine distribution companies for the procurement of 605,852 meters, while N89.89 billion has been disbursed under the Nigeria Electricity Market Stabilisation Facility (NEMSF 2) to 11 distribution companies to improve the electricity supply industry in Nigeria.

"Under the N100 billion Health Care intervention Fund, the bank has disbursed N94.34 billion, and is willing to expand the facility, to 85 projects in the pharmaceutical industry, hospitals and state governments for both

brownfield and greenfield projects, mostly to expand pharmaceutical drug lines, acquire MRI and other equipment and upgrade laboratories and other hospital services,” he stated.

He said under the N1 trillion manufacturing intervention stimulus, a total of N803.36 billion had been disbursed to 228 projects across various sectors in agro-allied, mining, steel production and packaging industries, amongst others.

"The monthly weighted average inter-bank call and Open Buy Back (OBB) rates fell to 1.80 and 1.50 per cent in February 2021 from 3.50 and 2.30 per cent in January 2020, respectively, reflecting the continued liquidity surfeit in the banking system," he added.

Meanwhile, the LCCI has described the monetary policy stance of the CBN, which retained policy parameters during its March 2021 meeting as the most appropriate decision the bank could take at the moment.

In a statement by the Director-General of the LCCI, Dr. Muda Yusuf, LCCI said it “appreciates the dilemma which the current stagflation condition presents to the monetary authorities. We note the imperative of striking a balance between stimulating output growth and curbing intensifying inflationary pressures.

“Considering recent macro developments in the economy, holding policy stance seems to be the most appropriate decision at this moment.

The CBN’s governor stated at the briefing that the bank’s current policy focus anchors on boosting output growth given the fact that the domestic economy narrowly exited recession in the fourth quarter of 2020.”

He said the LCCI believed that the sustained intervention efforts of the apex bank would enhance credit flows to the real economy, stimulate output growth and ultimately moderate inflationary pressures.

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PAGE EIGHT MILITARY COMBS BENUE FOREST IN SEARCH OF ORTOM’S ATTACKERS combing the forest, which serves as a hideout for the assailants.

He said their makeshift camps had also been destroyed.

The governor also yesterday dismissed the allegation that the attack, which occurred during a visit to his farm, was stagemanaged, warning that 2023 general elections will not hold if insecurity persists.

In addition, the House of Representatives has asked the Nigeria Police Force and the Department of State Services (DSS) to go after a shadowy group, Fulani Nationality Movement (FUNAM), which claimed responsibility for the attack on Ortom.

Yekini said the patrol of the area by the troops would also help check cases of militia herdsmen and other criminals emerging from the forest across River Benue to unleash mayhem on the people.

Yekini, who was at the scene of the attack with the Security Adviser to the Benue State Governor, Col. Paul Hemba (rtd), stated that after the attack, his troops immediately moved in to clear the area, and would remain in the area for the next few days.

He said: "We brought you journalists here so you can see for yourselves the area where the governor was

attacked. We were informed on Saturday some hours after the incident took place and I deployed my men who started searching into the Abinsi forest for the gunmen.

“I came on Sunday with more troops to check the situation. We started combing the area and the forest and discovered some camps and destroyed them. We should not be judged by this singular assignment.

We have accepted it was a security breach and we will take action.

"We have identified and destroyed some camps in the forest but yet to arrest anyone.”

He said permanent patrol will be set up around the axis to maintain order in the area.

According to him, since coming on board three years ago, the military operation has killed over 100 criminals, with close to 700 weapons recovered in Benue, Taraba and Nasarawa States.

He added that the highest number of arms recovery was made in Benue State.

He said the military had improved security, adding that notorious criminals like Terwase Akwaza, a.k.a Gana, based in Sankera axis had also been killed.

Yekini said some of Gana’s top lieutenants, numbering about 10, were among those killed, adding that the

military will get the rest of them now on the run.

“It is because of some local interest that some of these criminals have been shielded and I appeal to residents to volunteer information about bandits' hideouts for necessary action and their refusal to provide useful information had been our challenge," he stated.

Hemba told journalists that though troops of Operation Whirl Stroke and other security agents arrived promptly, they could not get the assailants who retreated into the forest.

He said so far, no arrest had been made in connection with the attack.

When asked if some of the people seen by journalists at the river were questioned by the police, he confirmed that they were questioned, but no arrest was made.

I have No Reason to Fake My Attack, Says Gov Meanwhile, Ortom yesterday faulted the allegation that the attack was stage-managed as there was no reason to do so.

He told journalists after a closed-door meeting with President Muhammadu Buhari at the State House, Abuja that his security aides, including those from

other parts of the country witnessed the attack.

He also stressed the need to secure the nation ahead of the 2023 general elections, while vowing not to repeal the state's anti-grazing law notwithstanding the threat to his life.

The governor also reiterated the call by Buhari that the attempt on his life should not be politicised.

He said: "We should know when to play politics and when to team up together to work as a team to salvage the country. That is what I'm saying. Those who are saying that I stage-managed the attack - what benefit do I stand to gain by coming up to say that I was attacked?”

While lauding the president for his stand on the shoot-on-sight order on carriers of AK-47, Ortom said the presidency needed to be encouraged in securing the nation.

The governor warned that the forthcoming 2023 general poll could only hold if there is a well secured nation between now and then.

He said: "2023, yes, to a politician is not far but is still a long way. If we secure our country, and everything is working fine, then we can talk about 2023. But the way things are going, if we don't secure the country, there is no way we can be talking about 2023. That is

why I’ve always dismissed people who come to me to say that you’ll contest this you’ll contest that. For me, I want us as leaders of this country, we have taken an oath of office, let us abide by those things we have said, and work together as a team, leave politics aside. Leave ethnicity aside, but secure the country, Nigeria.

"We have no other country other than Nigeria. We cannot go to Cameroon or Senegal or any other place and so, my appeal to everyone is to ensure that we work together, security matters are not just for the security agencies alone.”

Ortom vowed that despite the threat to his life, the antigrazing law which, he said, was working in the state, would not be repealed.

He stated that through the anti-grazing law, normalcy has returned to the state with some arrests made and others prosecuted under the law.

"So far, we have done very well. The law has arrested more than 500 people. More than 200 people were prosecuted and convicted with more than 13,000 herds of cattle arrested and the fines were paid, and they were released.

And we have no problem with killing anybody anyhow in Benue State.

“And that is one of the things that I am saying

that those people will think that they own this country should be apprehended and prosecuted or otherwise will begin to think that they are sacred cows. Miyetti Allah, FUNAM and all those ones, they are responsible, creating problems all over the place by what they say," he said.

Also yesterday, the House of Representatives charged the police and the DSS to go after a shadowy group, FUNAM, which has claimed responsibility for the attack on Ortom.

In its resolution at plenary, the House called on the "Department of State Services and Nigeria Police to investigate claims of responsibility on the attack of Governor Samuel Ortom, as well as other threats and statements allegedly attributed to one Umar Amir Shehu and the Fulani National Movement (FUNAM)."

The resolution followed the adoption of a motion moved

by Hon. Kpam Sokpo on behalf of other lawmakers from Benue State.

Presenting the motion, the lawmaker expressed concern about the worsening insecurity nationwide.

He stated that since the attack on Ortom, the media has been awash with reports that a group identified as FUNAM has claimed responsibility for the incident.

country, Fayemi stated that whether it happened to a governor like Mr. Samuel Ortom of Benue State, or to innocent children abducted from their schools, it remains unacceptable.

“Governor Ortom is the number one citizen of his state, even then down to the ordinary citizen. So, we must react to it swiftly. We must ensure that those involved in this are apprehended and prosecuted.

“We must demonstrate to Nigerians that Article 14 of our constitution, which speaks to the security and welfare of Nigerians as the primary responsibility of government is one that we hold very dear and that we are all committed to doing whatever it will take to protect our people,” he added.

Fayemi restated the call for devolution of power, which he described as an idea whose time has come.

He said he had suggested that the number of items on the exclusive list in the constitution should be devolved to states and local

authorities.

“In matters of economic development, we may need to begin to look at other ways of managing diversity and difference in our country and that devolution of power is an idea whose time has come,” he stated.

According to him, Nigeria is the only federal state in the world that has a unitary policing system just as he called for multi-level policing system to complement the extant federal policing structure.

On COVID-19, he decried the low turnout due to vaccine hesitancy, adding that the state still has a chunk of the over 52,000 doses of vaccine allocated to it.

He stated that from the data available to him, the AstraZeneca vaccine, which is available to Nigeria, is safe.

“As for the governors' forum influencing or directing governors to align, I am sure you know that the governors' forum is a voluntary association.

Yes, we have mechanisms, moral suasion, appeals, and

peer learning to ensure that we do the right thing and uphold the constitution to which we have sworn.

“Ultimately, governors are individuals and they have human rights and if they choose not to take the vaccine, it's all within their rights not to do so. But as a leader, you have a burden to ensure we do not put our people in the harm's way,” he said.

On minimum wage, he said there was no way the governor of Ekiti State should be earning the same salary as his colleagues in Rivers and Lagos, stressing that the same condition exists even in the United States.

On the planned APC national convention, Fayemi said he was optimistic that after the revalidation of membership, there would be ward, local government and state congresses, which will take place immediately after the Ramadan, and eventually leading to the national convention, probably in June.

impressive result for the year ended December 31, 2020, with gross earnings rising by five per cent to N696.5 billion and profit before tax (PBT) also growing by five per cent to N255.9 billion.

Consistent with this superlative performance and in recognition of its track record of exceptional performance, Zenith Bank was voted as Bank of the Year (Nigeria) in The Banker’s Bank of the Year Awards 2020, Best Bank in Nigeria in the Global Finance World’s Best Banks Awards 2020 and Best Corporate Governance’ Financial Services’ Africa 2020 by Ethical Boardroom.

Also, the bank emerged as the Most Valuable Banking Brand in Nigeria, for the

fourth consecutive year, in the Banker Magazine “Top 500 Banking Brands 2021” and Number One Bank in Nigeria by Tier-1 Capital in the “2020 Top 1,000 World Banks” ranking published by The Banker Magazine.

Similarly, the bank was recognised as Bank of the Decade (People’s Choice) at the ThisDay Awards 2020, Retail Bank of the year at the 2020 BusinessDay Banks and Other Financial Institutions (BOFI) Awards, and Best Company in Promotion of Good Health and Well-Being as well as Best Company in Promotion of Gender Equality and Women Empowerment at the Sustainability, Enterprise and Responsibility (SERAS) Awards 2020.

FRUSTRATION BREEDING CALLS FOR SECESSION, SAYS FAYEMI the ruling All Progressives Congress (APC) did not fully appreciate the severity of the problems in the country during its campaign in 2015.

He, however, said the country must look for the best solution to its security challenges, including a multilevel policing policy.

He also called for a different approach to managing the security crisis and other national challenges beyond the secessionist campaign.

He said: “Frankly, when you have stress and laxity in society, you are bound to find a whole range of responses.

Some rational, some irrational, some that speak to the fears of the people, some opportunistic and hare-brained. There’s no question that some of the reactions we have seen will fall into all of those categories.

“The people, who are saying those things (secession), are saying so out of frustration.

But I don't think that that's the solution to the Nigerian predicament. I have been on record several times that on matters of security and national development, we need

to find ways of managing our diversity and differences in this country.”

On Nigerians' disappointment with APC and President Muhammadu Buhari to keep campaign promises, the governor stated that the gap between the electoral promises and the APC's achievements was due to exaggerated expectations caused by the campaign promises.

However, he added that he could not recall that the APC promised to achieve value parity between the naira and the United States dollar.

He described as sad the fact the naira has dropped by more than N230 to $1 since APC took over, stressing that it doesn’t augur well for the nation’s economy.

While quoting a former Governor of New York, Mr. Mario Cuomo, who once said that politicians campaign in poetry but govern in prose, Fayemi said his comments didn’t mean a blanket failure of the party, adding that the government has tried in its core areas of promises.

He said: “But you know there are a lot of exaggerations and there were clearly exaggerated expectations and maybe on our part we are also guilty of not reducing those exaggerated expectations.

“You know a popular American politician, Mario Cuomo, said you campaign in poetry and govern in prose and naturally, there were things that were the stuff of campaigns that will not necessarily pan out the way we had envisioned them when we were campaigning to Nigerians.

“Perhaps what we didn’t do enough was to understand the extent and the enormity of the challenge at the time in all of its comprehensiveness and coming to office, we have had to deal with that.”

However, he stated that the APC government has also “been a victim of circumstances” because no one envisioned a COVID-19 pandemic that would paralyse the country for more than a year, plunging the country back to another recession.

On the insecurity in the

ZENITH EMERGES BEST BANK IN NIGERIA BACK-TO-BACK Western Europe.

Founded in 1987, Global Finance regularly selects the top performers among banks and other financial services providers and the awards have become a trusted standard of excellence for the global financial community.

According to the publisher and editorial director of Global Finance, Mr. Joseph Giarraputo, “This year’s evaluations are more important and valuable than at any point in their 28-year history, given the unprecedented economic conditions wrought by the global pandemic.

“Banks are playing a key role in economic recovery around the world, and as such, our Best Bank awards highlight the leaders in

restoring growth and mapping a way forward.”

Commenting on the recognition, the Group Managing Director/Chief Executive of Zenith Bank, Mr, Ebenezer Onyeagwu, said: “This award is a strong indication of our resilience despite a very excruciating macroeconomic environment exacerbated by the COVID 19 pandemic.”

He added that the award was made possible by the joint contributions of the bank’s key stakeholders – the Group Chairman, Jim Ovia, for his pioneering and foundational role in building the structures and laying the foundation for an enduring and successful institution; the board for the deep insights and outstanding

leadership they provide; the staff for their commitment, doggedness, creativity and outstanding talents as well as the bank’s customers for their continued support and loyalty.

"Zenith Bank has remained a clear leader in the Nigerian financial services industry, distinguishing itself through unique customer experience and sound financial indices.

"The bank is also the pioneer in the digital space with several firsts in deploying innovative products and solutions that ensure convenience, speed and safety of transactions," it added.

As a testament to its resilience and market leadership, Zenith Bank recently announced an

TOP GAINERS NGN NGN CAP PLC 2.00 22.00 CORONATION 0.05 0.55 NPFMFB 0.16 1.77 JBERGER 1.85 20.55 FTNCOCOA 0.04 0.47 TOP LOSERS NGN LIVESTOCK 0.20 1.90 CHAMS PLC 0.02 0.21 CORNERSTONE 0.04 0.56 CHAMPBREW 0.14 2.10 ETI 0.30 4.80 HPE Nestle Nig Plc ₦1,375.00 Volume: 410.386 million shares Value: N5.984 billion Deals: 3,937 As at yesterday 23/3/2021 See details on Page 41

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COMMENT

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

A BOUQUET FOR IHEDIOHA AT 56

Austin Uganwa pays tribute to the former governor of Imo State, Emeka Ihedioha

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ormer Imo Sate Governor and foremost parliamentarian, Rt. Hon Emeka Ihedioha, turns 56, Wednesday, March 24, 2021. This is indeed a worthy milestone given Ihedioha’s far-reaching footprints in politics, unassailable development-led landmarks and remarkable leadership trajectories.

His three decades stints in politics have essentially been trailed by amazing results and profound legacies. These realities underscore the imperative need of celebrating Ihedioha at 56 with pomp and euphoria At 56, Ihedioha’s ascendancy in partisan politics has been meteoric, astronomic and mythical. Since the wake of the Fourth Republic political dispensation in May 29, 1999, Ihedioha has occupied strategic elective positions in the legislative and executive arms of government. The most recent was Imo state governorship position he held for seven months before he was removed by a bizarre January 14, 2020 Supreme Court decision. The ruling trailed by deep controversies was rightly labeled by many as the most fraudulent, unjust and irrational court verdict in global judicial history.

Within the seven months Ihedioha ruled as Imo State Governor, he evidently set inimitable records that impelled the successive regime to struggle to imitate his governance template. At inception of his administration, Ihedioha articulated his vision and mission: “To rebuild, reposition and transform Imo into a modern ecosystem” in the following critical areas of development; education, agriculture, industry, tourism, human capital development, science and technology and a host of other sectors.

Ihedioha took speedy, intensive and veritable steps to accomplish his vision for Imo. In just 100 days of his administration, he mobilized the reconstruction and rehabilitation of 25 intra and intercity roads concurrently, including federal roads in order to grapple with gross infrastructural decay in the state. He restored Otamiri Water Scheme that left Owerri taps dry for eight years and reconnected the state secretariat and other public buildings to the national grid through Imo Power and Rural Electrification Agency he established to tackle dismal power supply.

His administration designed enduring policies and governance structures to scale down large scale corruption in the public sector. First, Ihedioha introduced Treasury Single Account that reduced the 250 government accounts to one. Second, the government revitalized the procurement procedure by ensuring that due process was enthroned in the biddings and awards of contracts. The administration also reinforced the ease of doing business unit that was moribund prior to his administration’s dawn.

The benefits from the policies were instant, wide-ranging and penetrating.

Accountability and fiscal discipline were instated while colossal leakages in the financial system of the state were accordingly scaled down, boosting the Internally Generated Revenue from N250 to N1.2b, between May 29, 2019 when the administration was inaugurated and December the same year. Consequently, the National Bureau of Statistics and other relevant

HIS ADMINISTRATION DESIGNED ENDURING POLICIES AND GOVERNANCE STRUCTURES TO SCALE DOWN LARGE SCALE CORRUPTION IN THE PUBLIC SECTOR. FIRST, IHEDIOHA INTRODUCED TREASURY SINGLE ACCOUNT THAT REDUCED THE 250 GOVERNMENT ACCOUNTS TO ONE

international development agencies that conducted a survey on corruption among the 36 states during the second half of 2019 placed Imo as the least corrupt state. Imo was recognized as the state with the fastest growing economy by Business Day Newspaper.

Besides, the policies stimulated investors’ interest in the state. For instance, the President of African Export and Import Bank, Prof. Benedict Okechukwu Oramah arrived in the state in December, 2019 prepared to invest over N 62b towards boosting the state economy. The investment blueprint has now been sadly withdrawn by the organization, citing poor investment climate.

The dignity of labour and the pensioners was restored under Ihedioha’s watch. Workers salary was increased and the payment structure standardized.

An enduring biometric verification exercise of pensioners was undertaken and the payment of their monthly entitlements commenced after six years of non-payment. The Ihedioha administration ensured full release of monthly financial allocations to the 27 local councils by guaranteeing regular joint accounts meetings Three months into the inauguration of the Fourth Republic National Assembly he was appointed media adviser to the then Senate President, Dr Chuba Okadigbo, who was a consummate and vibrant politician imbued with esoteric power of reasoning, exceptional wit and profound power of oratory. Ihedioha won his first election in 2003 to represent Aboh Mbaise and Ngor Okpala Federal Constituency in the House of Representatives.

Intriguingly, he was elected three uninterrupted times into the parliament.

For the 12 years he was a member of the House, he bestrode the National Assembly like a colossus. This was largely instructive in the metaphorical manner he was elected into various principal positions, progressively.

He was chairman of a prime committee, Marine Transport between 2003-2007 and was in November, 2007 elected into the position of Chief Whip. Ihedioha symbolically bloomed higher and further when his colleagues sequentially elected him unopposed as deputy speaker of the House. He later ended the session as speaker. His unbroken chain of elevations on the dais of parliamentary leadership positions within his 12-year-stint in the National Assembly is a rare feat as no Nigerian parliamentarian has seemingly equaled it.

As deputy speaker, Ihedioha accordingly chaired the House Ad hoc on Constitution Review. He instilled credibility, innovation and liberalism in the constitution amendment process by painstakingly involving the civil society groups and broadening the participation base of Nigerians by seeking their inputs in the 360 federal constituencies in the country.

At 56, Ihedioha has remained a consistent and loyal party man. He has been playing a frontline role in nurturing, reshaping and consolidating PDP at national and state levels. He is not only the leader of the party in Imo; he is the party’s rallying point and life blood. He has been working harmoniously with the chairman of the party in the state, Engr. Charles Ugwu to reposition the party ahead of future elections.

Dr Uganwa wrote from Owerri

ANOTHER DEFEAT OF GAY BARBARISM Marriage between a man and a man is an abomination, writes Sonnie Ekwowusi

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ith the official pronouncement of the Vatican last week that a union between a man and a man or between a woman and a woman in the name of “marriage” is a sin against God and therefore does not receive the blessing of the Catholic church, the Lesbianism, Gay, Bi-sexualism, Trangenderism and others (LGBTQI+) ideological barbarism has suffered another major irreversible defeat.

From time immemorial the teaching of Catholic church that marriage, as ordained

by God and in consonance with the civil laws of many nations of the world, can only be contracted between a man and a woman, has remained unchanged and irrevocable.

But prior to the pronouncement of the Vatican last week, there had been some quibbling in some quarters to the effect that with the emergence of Pope Francis coupled with the pressure from some left-wing Catholic clergy, journalists, and church reformers, the Catholic Church had somehow relaxed her Orthodoxy and doctrinal eloquence on marriage and therefore had reserved a place for LGBTQI+ people in the church.

But the Catholic Church has not relaxed her teaching on LGBTQ1+. Last week the Vatican came out strongly to unequivocally reaffirm that it is illicit to impart blessings on sinful unions between persons of same sex because “God does not and cannot bless sin”. By finally hitting the nail on the head on the matter last week, the Catholic Church has reaffirmed her two-millennia teaching which is anchored on the teaching of Jesus Christ -“But from the beginning of creation, God made them male and female. For this reason a man shall leave his father and mother and be joined to his wife, and the two shall become one. So they are no longer two but one. What therefore God has joined together, let not

man put asunder” But in their defence last week, the LGBTQI+ community expressed its anger against the Catholic Church for outlawing LGBTQ1+. It alleges that the aforesaid Vatican pronouncement outlawing LGBTQI+ is homophobic, anti-Christian, a violation of gay right and therefore null and void. Speaking to the media last week, one of the gay persons said, “the toothpaste is out of the tube, and it can’t be put back inside’, meaning that, despite the Vatican sledge hammer, the LGBTQI+ people are undeterred in their irreversible resolve to imbibe and live out their LGBTQI+ lifestyle no matter whose ox is gored. In rebutting the said defence, a certain spokesman of the Catholic Church was heard to say, “There will be no recognition of homosexual unions or marriages by the Catholic church. It is non-negotiable. End of story”. It will be recalled that within the first three days of his inauguration as the President of the United States, Joe Biden wasted no time in opening the floodgates for all sorts of lesbians, homosexuals, transgenderists who had been banished by former President Donald Trump, to come out from their banishment and start agitating for what they consider as their lost rights.

At the moment President Biden has made LGBTQI+ the centre-piece of American foreign policy. He has threatened that Nigeria and other countries which are yet to legalize LGBTQI+ must hurry up and do so otherwise they will incur the wrath of the United State. Biden has also swiftly revoked the Trump-Pence administration policy and reinstated the corruptive Obama bathroom policy which states that male students who claim to be females, notwithstanding that they had not undergone any gender-reassignment surgery, should compulsorily shower together with girls in the same bathroom.

Since Biden issued the aforesaid threat, many Nigerians have been faulting him on that. For instance, two weeks ago, a group of NGOs and Civil Society Organizations (CSOs) based in Lagos described Biden’s open threat as a violation of

Nigeria’s territorial integrity. In their words, “Nigeria is a sovereign nation. We have a right as a sovereign nation to decide for ourselves the kind of laws we can enact for ourselves and for our own good. We should reject anything which compromises our territorial sovereignty. No foreign country has a right to interfere in the way we run our country or enact our laws. If the U.S. or any other country is bent on stopping to give us financial assistance simply because we have declared LGBTQ1+ illegal in Nigeria, that country can go ahead and do so.

LGBTQ1+ is against our culture and tradition and against our beliefs. Only marriage contracted between a man and a woman either under Islamic law, Customary law and Marriage Act is recognized as valid in Nigeria”.

Having carefully evaluated the forgoing arguments as well as weighed them on the scale of justice, I think the first thing to say is that the LGBTQ1+ people are human beings created by God. By virtue of this, they are ontologically good human beings. We should love them as good human beings but we shall not love the LGBTQ1+ ailment they are suffering from. In this context, we must not ostracize them or discriminate against LGBTQ1+ people.

Rather than ostracize or discriminate against them, we should volunteer to take them to the hospital for therapy and rehabilitation. Nobody is born a lesbian or a homosexual. There is no gay trait in any human gene. Neither is LGBTQ1+ inherited from one’s parents. To date, there is no empirical medical study that proves that LGBTQ1+ is inherent in some people let alone in all peoples. Even animals in the bush do not indulge in same-sex copulation.

The simple ultimate truth is that LGBTQ1+ is an acquired barbaric aberration. Being an acquired habit, it can be given up some day. Some LGBTQ1+ people have been recovered through therapy and rehabilitation to start living normal lives. As U.S President, Obama decreed June as gay Pride Month. Can you imagine? Pride in what? Pride in being queer? In many cultures, including my

village, queer people are sick people who are under medication. LGBTQ1+ is incompatible with Universal Declaration of Human Rights 1948, the United Nations Declaration on the Rights of the Child and the International Covenant on Civil and Political Rights. It is also incompatible with African regional instruments such as the African Charter on Human and People’s Rights domesticated in Nigeria and applied by the Nigerian Supreme Court in the case of Abacha V Fawehinmi.

Therefore, outlawing of LGBTQ1+ is not a derogation from international legal obligation because there is no known domestic or international law which obliges nations of the world to refrain from enacting laws against LGBTQ1+. Even though some nations have legalized LGBTQ1+, other nations are not obliged to join in their madness. No “international Supreme Court” can force a sovereign State to legalize LGBTQ1+. The binding nature of international law is a matter of consent of sovereign states. In other words, international law binds upon consent not by imposition. As far back as June 29 2016 the prestigious European Court of Human Rights sitting in Strasbourg, France delivered a historic and unimpeachable judgment that LGBTQ1+ is not a human right. The court, which is the highest court in Europe, held that “marriages” entered into by people of same-sex cannot be considered as marriage. As important as this judgment is, the liberal media such as pro-gay CNN or pro-gay BBC and others refused to report it.

It is obvious that the new Western Cultural Revolution has turned right into a dynamic and subjective process of change that allows for contradictory choice. Hence choice or license has become an absolute principle and a new point of reference of human rights. This has resulted, according to Marguerite A. Peeters in her seminal work: The Globalization of the Western Cultural Revolution, in the deconstruction of the anthropological structure of man and woman leading to the negation of reality and LGBTQ1+ barbarism.

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EDITORIAL THE TUBERCULOSIS SCOURGE The health authorities could do more to stem the menace

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he theme for this year’s World Tuberculosis Day could not be more apt: ‘The Clock is Ticking’. It conveys the urgency that time is running out to act on the commitments to end the scourge. It is more so in Nigeria that comes third, only behind India and China, in terms of tuberculosis cases. The authorities must therefore be concerned that we are far from meeting the 2030 global targets for TB and other communicable diseases.

Every year, around 245,000 Nigerians die from tuberculosis (TB) and about 590,000 new cases occur of which around 140,000 are also HIV-positive.

TB is also believed to account for more than a tenth of all deaths in Nigeria while nearly 30 people die every hour from the disease. More particularly disturbing is that while other countries are gradually winning the war against TB, the reverse is the case in Nigeria.

To compound the challenge, substantial numbers of the people infected with TB in the country are unreported or undiagnosed, most MANY PATIENTS of them women AFFLICTED WITH TB DO and children in NOT COMPLETE THE TB neighbourhoods THERAPY AND EVEN where poor ventilaWORSE, MANY DO NOT tion and squalor MAKE THEMSELVES abet the spread of AVAILABLE FOR the disease. “If you TREATMENT do not reach those women and children infected”, lamented Dr. Rui Gama Vaz, the World Health Organisation (WHO) representative in Nigeria, “they will continue to spread TB in their communities.”

Regarded by medical experts as the single leading cause of death from any infectious agent, TB is caused by a bacterium which most commonly affects the lungs and transmitted from person to person through air droplets. Even though control measures had reportedly limited the spread through

Letters to the Editor

animals, they (particularly cattle) still constitute a significant source of risk in countries like Nigeria where meat and milk inspection by health officials are often overlooked.

However, tuberculosis is both preventable and curable. But as the WHO authorities have consistently argued, ending the TB epidemic requires action beyond the health sector to address the risk factors and determinants of the disease.

The political authorities have to take the lead if we must effectively tackle the scourge. Besides, for the victims, early detection and correct diagnosis aid proper treatment. Many patients afflicted with TB do not complete the TB therapy and even worse, many do not make themselves available for treatment. Failure to complete the treatment and the mismanagement of drugs had led to the death of many patients and an increase in variants of the disease that are drug-resistant.

I 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

ronically, current efforts are not enough to find, treat and cure people suffering from the ailment even though treatment centres for drug-resistant TB have grown from one in 2010 to about 12 in the country today while some states are said to have initiated treatment of drug-resistant TB patients in their communities. According to the National TB and Leprosy Control Programme (NTBLCP), directly observed treatment short course (DOTS) services are currently provided in about 6000 health facilities in the country, and diagnosis in 1515 microscopy laboratories. DOTS is said to be an efficient and cost-effective strategy that consists of physically observing patients as they take the TB medications to ensure treatment compliance.

Unfortunately, the challenge indeed is huge and will require much more. For instance, while 10 per cent of the global TB patients are people living with HIV, in Africa where Nigeria leads, 74 per cent of them are people living with HIV. What this means is that the relevant agencies have to put in more effort if Nigeria is to achieve the global target of 90 per cent reduction in TB deaths and an 80 per cent reduction in TB cases by 2030.

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.

Women And Leadership In Nigeria

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igeria is missing out on good governance and development by failing to implement the 35% affirmative female action adopted in the gender and equal opportunities bill, according to Mrs Catriona Laing, the British High Commissioner to Nigeria. A cursory look into Nigerian women in politics suggests that cultural stereotypes and gender discrimination act as a disadvantage to the success of women as political leaders and actors. The uncertainty surrounding the capability of women to be effective leaders is underlined by a disconnect between the cultural construct of women and the requirements of leadership in Nigeria.

Globally the shift towards women in governance has yielded much needed results for countries who have embraced this paradigm shift. Stephanie Williams who is the acting special representative and head of the UN Support Mission in Libya has successfully steered the Libyan political dialogue forum (LPDF) through a series of breakthrough agreements in recent months culminating in the establishment of a unified executive authority to take Libya to national elections on 24 December 2021, an unprecedented achievement since the country descended into chaos following the fall of former ruler Muammar

Gadaffi in 2011. Similar data across several countries have shown that countries with female leaders are responding better to the Coronavirus pandemic. Despite Taiwan’s close proximity to China, the source of the pandemic, the country through concerted efforts from its Prime Minister Tsai Ing-wen and pro-activeness of its female Digital Minister, Audrey Tang leveraged technology to build an effective face mask rationing and digital quarantine system that has kept the virus under check, recording a total of 955 cases and 919 recoveries. The exemplary leadership of Angela Merkel, the German Chancellor, has also seen Germany recording the lowest rate of Covid -19 deaths in Western Europe. Angela Merkel has governed Germany for more than 14 years and has successfully managed several crises in the course of her chancellery: the 2008 financial crisis, the Eurozone debt crisis, the influx of migrants in 2015 and the Coronavirus pandemic.

Through it all, her leadership style has been remarkable, guiding Germany into exerting increased influence in the European Union. Involving women in political processes has proven to be beneficial for all globally. Nigerian women remain largely under-represented in the political space despite the fact that 49% of the Nigerian population are women. Only seven women are in the current Senate

and the National Assembly has refused to enlarge the space for women to participate in political, business and civic arenas through the gender and equal opportunities bill and 35% affirmative action which is an investment in a more equitable, just, and peaceful nation. Despite these setbacks Nigerian women continue to prove that women in positions of authority tend to be more passionate and committed to seeing good governance and democracy enthroned. The heroics and achievements of late Dr Ameyo Adadevoh, who ensured that the Ebola virus did not have an accelerated spread, Dr Ngozi Okonjo-Iweala and Mrs Amina J. Mohammed are all indicators to the possibilities women in governance bring to the table.

Just like the British High commissioner to Nigeria Mrs Catriona Laing noted, challenging the social norms and cultural patriarchy that enable gender discrimination in the Nigerian society such as child marriages, the Land Use Act as it affects women and the gender and equal opportunity bill are critical to balancing the gender parity in Nigeria. The world is at a pivotal moment and Nigeria must capitalize on this momentum and ensure women’s voices are not only present but heard in the political processes and the decision-making table.

Chinonso Kenneth, kennethonwurah75@gmail.com

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MIDWEEKPOLITICS

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

Aba By-election As a Referendum for Ikpeazu’s Urban Renewal Efforts Emmanuel Ugwu-Nwogo predicts that the race to fill the vacant office of the federal legislator representing Aba Northend Ab a South in the House of Representatives will be a stiff fight between the All Progressives Congress and the Peoples Democratic Party candidates, with a slim chance for an upset from the All Progressives Grand Alliance

Kalu

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t the ‘mega rally’ of the ruling Peoples Democratic Party (PDP) held on March 15, 2021 to kick-off the party’s campaign for the Aba federal constituency by-election, Governor Okezie Ikpeazu did no mince words on his expectations. He called on voters in Aba North and Aba South local governments that make up the federal constituency to come out en mass and vote for the PDP candidate, Hon Ebisike in the by-election scheduled to hold on March 27, 2021 by the Independent National Electoral Commission (INEC).

The governor said that he has done a lot so far in transforming the commercial hub of Abia with massive reconstruction of critical roads in the city. He therefore challenged the residents of Enyimba City to reciprocate the efforts of his administration to put Aba in good shape as far as physical infrastructure is concerned.

He reminded Aba voters that his government has not only built several roads in Aba but is also poised to do more within the remaining span of his second tenure. At the last count government said it had built 64 roads in Aba and still counting.

Though Governor Ikpeazu referred to the PDP candidate for the House of Representatives seat as a young committed party man with the capacity to represent the people well, he continued to paint a picture of himself standing for election. Therefore a rejection of Ebisike at the poll would translate to a rejection of Ikpeazu’s transformation of Aba. The governor also stoked the growing sentiments among the Ngwa people, who have been clamouring for an indigene to represent Aba in the House of Representatives. Ikpeazu noted that since the dawn of the present democratic dispensation in 1999 no indigene of Aba has gone to the National Assembly to represent the people. That didn’t come as a surprise given the cosmopolitan nature of the sprawling commercial city with non-indigenes comprising majority of the city dwellers. But having waited this long for an indigenous federal lawmaker, Ikpeazu insisted that this time around “equity and fairness demand that an Aba indigene be allowed to represent them at the National Assembly for the first time since 1999.”

Every PDP stakeholder at the rally bought into the sentiment expressed by Governor Ikpeazu. His deputy, Sir Ude Oko Chukwu affirmed that a vote for PDP was a vote for the state governor who has done great things for Aba. Former deputy governor, Chief Acho Nwakanma, who chaired the campaign rally, stated that Ikpeazu has indeed done so much to deserve the support of Aba people. The Abia PDP chairman, Rt. Hon Asiforo Okere took the sentiments further afield, saying that “it is only an Aba indigene who was born and bred in

Nwagwu Aba that can represent Aba well”. According to him, the by-election has offered an opportunity for an Aba boy to come and complement the works of Governor Ikpeazu, an Aba boy himself.

Ikpeazu and other PDP henchmen have every reason to be worried about the Aba federal constituency. It has not always been a play ground for the ruling party even though it has held sway at government house Umuahia interspersed by a brief spell of two years by the Progressive Peoples Alliance(PPA) between 2007 and 2009. Since 2015 the All Progressives Grand Alliance (APGA) has been occupying the Aba federal constituency seat, which was won by Hon Ossy Prestige in 2015 and had his mandate renewed in 2019.

But the seat became vacant early this year when Hon Prestige died in Germany on February 6 following an illness. The affable lawmaker was among those politicians thrown up by the political tsunami that Alex Otti engendered in Abia in 2015 that almost toppled PDP from power. Prestige was popular and coupled with the leaning of residents towards APGA, especially since Otti flew the party’s governorship flag in 2015, he got his mandate renewed but died less than two years into his second tenure.

This has presented an ample opportunity for the ruling PDP to reassert its influence in Aba after its candidate in 2015, Hon Uzo Azubuike failed in his attempt to be re-elected for a second tenure at the National assembly. With the recent political developments, especially the defec-

Ebisike tion of Otti to the All Progressives Congress (APC), the chances of APGA to cling on to Aba federal constituency is very slim. As it stands, the by-election is considered a two horse race between PDP and APC. APGA has suffered massive defections and is barely gasping for breath in Abia’s political space after losing most of its notable figures.

The main opposition APC earned its new status after benefitting from the crisis and discontent in APGA. Almost all the notable defectors pitched their tent with APC and it is expected that the party would leverage on its new found strength to snatch Aba federal constituency. However, there are fears that the choice of Mr. Mascot Uzor Kalu as the candidate of APC in the by-election could boomerang on the party. Mascot is a junior brother of Senator Orji Uzor Kalu, who is currently representing Abia North in the Senate.

Loud grumblings have been coming out from the APC camp following what some party members consider as manipulative imposition of Mascot on the party. Not a few APC members from Aba federal constituency and beyond are questioning the propriety of the former Abia governor propping his junior brother up to join him at the National Assembly. However it appears nobody wants to rock the boat in order not to expose the party’s underbelly to the advantage of PDP. Between 2007 and 2015 another of the Kalu brothers, Nnanna represented Aba at the House

The chances of APGA to cling on to Aba federal constituency is very slim. As it stands, the by-election is considered a two horse race between PDP and APC. APGA has suffered massive defections and is barely gasping for breath in Abia’s political space after losing most of its notable figures. The main opposition APC earned its new status after benefitting from the crisis and discontent in APGA. Almost all the notable defectors pitched their tent with APC and it is expected that the party would leverage on its new found strength to snatch Aba federal constituency. However, there are fears that the choice of Mr. Mascot Uzor Kalu as the candidate of APC in the by-election could boomerang on the party.

Mascot is a junior brother of Senator Orji Uzor Kalu, who is currently representing Abia North in the Senate

of Representatives. The eight years he spent at the green chamber has continued to be regarded by Aba residents as the “most unproductive representation” of the constituency at the National Assembly. This is the baggage that APC would be carrying to the poll as it hopes to deliver its candidate, Mascot, who had previously tested his popularity at the poll but failed to sway Aba voters to his side.

Senator Kalu has been campaigning vigorously for his brother to get the mandate of Aba voters. But he came under fire last week after claiming that the Federal Government through his intervention is funding the ongoing infrastructural projects in Aba. The chief press secretary to the Abia governor, Mr. Onyebuchi Ememanka berated the Abia North Senator for trying to take a joint credit with his party for what Governor Ikpeazu has been doing in Aba. The Abia governor’s spokesman accused Kalu of engaging in “shameless lies and distortion of information about the state of affairs in Abia State and Aba in particular, simply because he wants his youngest brother to join him at the national Assembly”.

A member of the House of Representatives from Abia, Hon Uzoma Nkem Abonta has also lashed out at Senator Kalu “for turning a campaign for elective position to a campaign of calumny, deceit, falsehood, and wicket propaganda”. Abonta, who represents Ukwa East/Ukwa West federal constituency, said in a video he circulated on internet that, as a former governor, Kalu ought to know the difference between federal roads and state roads, hence crediting the reconstruction of internal roads in Aba to the federal government “is hazardous, careless and calculated to deceive the people”. “If his campaign is based on fake and deceitful statement, then the right people that know the terrain and the true position of things should be voted to represent Aba,” Rep Abonta said, adding, “I think the era of deceitful politics is over.”

Unlike PDP and APC that are dictating the pace in this race, APGA appear to have lost steam and its candidate, Destiny Akaraka Nwagwu is almost campaigning as a lone ranger. The party that had Aba in its grip since 2015 can no longer muster the energy and resources to reclaim the seat it lost through death. No doubt the defection of Otti and his numerous supporters from APGA has dealt a devastating blow to the party. It is still early for the hitherto main opposition in Abia to have recovered well enough to do battle with the two formidable opponents waiting to take control of Aba federal constituency.

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

19

T H I S D AY ˾ WEDNESDAY MARCH 24, 2021

POLITICS

All Eyes on Obaseki for a New Cabinet

GOVERNANCE IN PHOTOS

The delay by Governor Godwin Obaseki to constitute his cabinet and other political appointments 100 days after his inauguration for a second term of office is creating a lot of anxiety in Edo State, writes Adibe Emenyonu

Obaseki

I

n his inaugural speech on November 12, 2020 after being sworn-in for a second term of office at the Samuel Ogbemudia Stadium in Benin City, capital of Edo State, Governor Obaseki stated clearly that he will constitute his cabinet in February, 2021.

Since then, all eyes have been on the governor to know who will make the list of cabinet members including other political appointments. To date, everyone is till waiting to hear his pronouncement on the matter.

However, this may not only have reduced the joy and euphoria of victory at the polls but has further transformed into mixed feelings especially when the governor again, early last week, shifted the cabinet formation to April.

The anxiety has reached another level among party men and women who believe Obaseki cannot be trusted any longer among the old Peoples Democratic Party (PDP) members who provided the platform for Obaseki to excel after he was dumped by his former political party, the All Progressives Congress (APC), as well as the new members of the PDP followed him to the party.

They also reasoned that it is either the governor cannot be trusted or that he must be hiding something by sticking to the present three-man executive council namely: himself, his deputy, Philip Shaibu; and the Secretary to State Government (SSG), Osarodion Ogie for such a long period of time.

The fears were further heightened when Obaseki Monday, March 1, through the Permanent Secretary, Ministry of Local Government and Community Affairs, Princess M.E. Jos-Bazuaye directed council chairmen to handover to their respective Head of Local Government Administration on Friday of that week.

In the memo titled, “Handing Over By Local Government Council Chairmen” signed by the Permanent Secretary, Obaseki asked the elected council officials to vacate office on the said date due to the expiration of their tenure.

According to the memo with the reference NO: FMLC.170/vol.111/646, also affected by the directive are councillors and all political appointees in the 18 council areas of the state.

The memo reads, “I am directed to refer to the above subject and to request that all Local Government Council chairmen are to hand over the administration of the 18 Local Government Councils to the respective Head of LGA in their various Local Government latest by Friday the 5th March, 2021.”

Concerns mounted pver Obaseki may have up his sleeves when the governor failed to conduct local government elections following the expiration of previous council executives whose three years tenure ended March 5, 2021.

Besides, the thought that the governor will now roll out the drums for another council election, at least, to use the platform

to compensate members of the party especially those he met when he jumped ship from the APC after he was denied its governorship.

The hope of many old and new PDP members were further dashed with the recent directive on local government council Based on this, speculations became rife on why Obaseki kept changing the date for the formation of a cabinet to replace the present three-member cabinet running the affairs of the state in the absence of commissioners.

According some school of thought, lack of funds was the major challenge against Obaseki’s desire to appoint commissioners.

Some even alleged that the governor may have squandered most of the state resources to win the election and is now faced with the reality between constituting a cabinet that will make him spend more. This may explain why he decided to keep postponing appointment of commissioners to a certain time when he would have saved enough to carter for them when appointed.

The same reason was also given for Obaseki’s tactical refusal to appoint caretaker committees to run the affairs of LGC’s after the expirationut of the already gone LG chairmen in the 18 councils.

The mixed feelings have also not just created disharmony among party members but has also increased the visibility of certain politicians as their homes have become a Mecca of sorts for political office seekers who hope to be favoured whenever the appointment eventually comes.

The PDP in Edo State is now im turmoil as a result of the activities of those eager for recognition and compensation. While those from old the PDP bloc want to have a bite of the victory cake through appointments, those from APC who accompanied Obaseki to PDP are interested in occupying a good number of executive positions, as well as, retain previously held appointment in the yet to be constituted cabinet.

This sturdy disagreement is partially responsible for the inability of Governor Obaseki to appoint cabinet members and conduct local government election. More worrisome is the sharing formula, that will enable it avoid so implosion in the party.

For instance, sensing the Incursion of those of the old PDP and their bravado that “we own the party” that provided the platform for the governor’s victory, some new members of the party are said to have started canvassing for new party congress and the dissolution of the party executive elected in March last year before the coming of Obaseki into PDP in order to accommodate them.

One of Obaseki’s loyalists who followed him from APC told THISDAY, “The state chapter of our party needs urgent and fresh election to inject new blood to run the affairs of the party in order for us to move forward.”

The member who preferred anonymity noted that only genuine integration of the old members and the new ones can bring about the much needed progress in the party.

He also reasoned that for the past 12 years, those who pride themselves as old members of the PDP have being losing elections until the arrival of those from APC to turn around their fortune. He cautioned that they should stop arrogating themselves as owners of the party to the exclusion of those who came in few months before the election to help win the governorship.

On the other hand, the old landlords of the party sensing they may be shortchanged, have proposed to Obaseki to consider a 60:40 ratio-sixty percent for those already in the party before Obaseki joined the party and 40 percent for the new members (those who came in with him).

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

L-R: Minister of State for Health, Dr Olorumbe Mamoora; Ogun State Governor, Prince Dapo Abiodun, cutting the tape to commission the Gymnasium complex and the Chief Medical Director of the Federal Medical Centre, Abeokuta, Prof Adewale Musa-Olomu during the commissioning of seven new projects, including the Muhammadu Buhari International Conference Centre and Telemedicine Hall, Radiology Complex, Oxygen Plant, gymnasium at the Federal Medical Center, Abeokuta

L - R: Minister of State for Petroleum, Timipreye Silva, Akwa Ibom State Deputy Governor, Mr Moses Ekpo and Dr Emmanuel Ekuwem, Secretary to Akwa Ibom State Government at the recent stakeholders’ retreat on the Petroleum Industry Bill in Uyo

Minister of State for Health, Sen Olorunnimbe Mamora; former Senator Lanre Tejuosho, Minister of Health, Ehanire, Speaker, House of Reps, Rep. Femi Gbajabiamila, his wife, Mrs. Salamotu and Governor of Ogun State, Prince Dapo Abiodun during the commissioning of the Muhammadu Buhari International Conference Centre and Telemedicine Hall at the Federal Medical Centre by the Speaker in Abeokuta, Ogun State

L-R: Chairman, Local Council Development Area (LCDA) Committee, Mr Segun Oluwole; Commissioner, Ministry of Local Government, Prof Adio Folayan; Deputy Governor, Ekiti State, Otunba Bisi Egbeyemi and Ekiti State Governor, Dr Kayode Fayemi; during the presentation of reports/recommendations by the LCDA Creation committee to the Governor in Ado-Ekiti

T H I S D AY ˾ ͰͲ˜ ͰͮͰͯ

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FEATURES

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

Much Ado about Obiano's Three Flyover Bridges The three flyover bridges built in Awka, the Anambra State capital by Governor Willie Obiano have recently come under attack, with many saying the flyovers are on the verge of collapsing.

David-Chyddy Eleke examines the criticisms

Anambra State Commissioner for Works, Marcel Ifejiofor; and Construction manager of IDC Construction Company, Youssef Zgaib leading other government officials to inspect the Aroma flyover bridge, which was alleged to be on the verge of collapse

T

hat Governor Willie Obiano of Anambra State was in a hurry to develop the state upon his swearing in as governor in 2014 is not in doubt. Shortly after he was sworn in, in March 2014, in his first ever executive council meeting, Obiano announced the plan of the state government to beautify the state capital, Awka. To do this, he began with the plan to build what he called three iconic flyover bridges in Awka. The first at the popular Aroma junction, another at Kwata Junction and the last at Amawbia junction.

Many doubted the sincerity of the government about the plan, but just days after the announcement, the contractors went to work, demolishing the roundabouts in the various junctions where the flyovers were expected to be built. Within his first two years, Obiano successfully delivered three aesthetically built flyovers, which he said was modeled after the hanging bridge of London. To further enhance its aesthetics, Obiano installed a very bright light on the top of the bridge, which illuminates the entire vicinities where the flyovers are located, while grasses were planted around each of them too, to enhance their beauty.

Today, the lighting installed on the three bridges now gives the state capital some sort of illumination at night as one drives by. This is made even better as the state government through its improvement in security has created a night life that now comes off as a revenue earner for the state.

Criticisms Even before the bridges were delivered, criticisms had begun pouring in about the choice of the model of the bridges chosen by the governor. Many insisted that such model of flyover bridges that required building cement and rod embankments and filling it with red earth was no longer in vogue, while others criticized it for its cheapness. Yet another group insisted that the governor was building a death trap that would not last, thereby wasting the money of the people.

In an interview the Minister of Labour and Employment, Dr Chris Ngige held with journalists prior to the 2017 governorship election when Obiano was seeking reelection, he told journalists that when his party takes over the reins of government, it would demolish the flyover, but he later recanted, when criticisms started pouring in about the demolition being a waste of funds belonging to Anambra State people, since the funds used for the building of the flyover was Anambra’s.

Aroma flyover bridge after its construction, five years ago Fear of Collapse When eventually the bridge became a reality, and the state government decided to erect a barricade to stop heavy duty equipment and other articulated truck from plying it, the governor’s traducers went to work again, insisting that the barricades were erected because the government knows that it built a substandard bridge that could collapse any moment. It took the state government lots of explanation that the barricade was just to ensure that since the flyovers are hilly, trucks may lose their brakes and roll back in the processing of ascending it, thereby causing havoc.

Even with the explanations, the belief that the bridges are substandard have not gone away. Just last week, a picture surfaced on the internet, where members of the opposition stated again that one of the bridges, precisely the one at Aroma junction was on the brinks of collapse.

The picture which was all over the social media warned indigenes of the state to desist from using the Aroma flyover as it may give way any moment. The picture circulated on the internet showed a part of the bridge, with a huge crack.

Obiano’s Stance As the argument continues, the bridge is already over six years old, and the governor insists that he knows the quality of flyover bridge he built, and that he was confident it would last very long.

The opposition is however not relenting, as they continue to criticize the project at every little opportunity.

The state governor, Chief Willie Obiano, in replying to the rumours, has however said that there were no fears at all that the flyover bridges he built were collapsing. Obiano who inspected the bridges referred to them as ‘iconic’, insisting that the state government engaged the very best in the world of construction in building the flyovers, and that feasibility studies was carried out on the kind of bridges it was building, before embarking on them, and that the three bridges were built to last a long while.

Represented by the Commissioner for Works in Anambra State, Engr. Marcel Ifejiofor, Obiano said “the iconic Aroma Flyover is strong and safe”, contrary to the insinuations and scaremongering on social media questioning the safety of bridge.

Ifejiofor stated that the alleged crack being posted around by scaremongers has nothing to do with the bridge insisting that the integrity of the bridge is not compromised in any way. He explained that the minor gap is on the side embankment on the Enugu approach was only added following an accident involving a big lorry on the Kwata bridge.

Ifejiofor who took journalists on inspection tour of the bridge said, “Aroma flyover bridge was built to global standard. The expansion which they talked about is an intrinsic part of bridge construction and does not indicate a crack. The three Flyover bridges at Aroma, Kwata and Amawbia were awarded in 2014 and 2015 are safe not to mention the 15 other bridges built across the state by the Obiano administration. I assure Ndi Anambra of the commitment of Governor Obiano to the safety of lives at all times, the barricade on the bridges are normal safety measures against big lorries rolling back from the bridge.”

Also, IDC, the company which constructed the flyover bridges, speaking through the construction Manager, Engr Yousssef Zghaib, said the embankment which had cracks, which was being shown on the social media has no correlation with the integrity of the bridge. He said the bridge is a separate unit, away from the embankment, and that accidents atop the flyover, in which a car hits the embankment can affect it, but would have nothing to do with the flyover. He assured that there is no cause for alarm, saying that Aroma bridge is safe.

By November this year, Anambra State would go to polls to elect a replacement for Obiano. Obiano who is of the All Progressives Grand Alliance would also be struggling to ensure that a candidate of his party wins the elections to take over from him. APGA has for 16 years held sway in Anambra state, and being the only state in the country that it controls, Obiano would most likely throw his entire weight behind anyone elected as the candidate of the party.

Meanwhile, the Peoples Democratic Party, PDP and the All Progressives Grand Alliance, APC the most visible opposition political parties in the state would also be working to ensure that its candidates topple APGA in the election. The tendency is that some of Obiano’s projects in the state, despite the three ‘iconic’ flyover bridges in Awka may still come under criticisms. How Obiano defends his projects against opposition would to a large extend determine how the candidate of his political party in the forthcoming election would fare.

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T H I S D AY ˾ MARCH 24, 2021

FEATURES

Ihedioha: Omenkeahuruanya and the Trial of Nigeria's Democracy Paul Obi

"The Supreme Court, of course, has the responsibility of ensuring that our government never oversteps its proper bounds or violates the rights of individuals. But the court must also recognise the limits on itself and respect the choices made by the people."

- Elena Kagan US Supreme Court Justice he year 2020 left with it unimaginable shades of serious impacts. It was a year philosophers will easily tag anus horribilis - a monstrous year. From the Coronavirus pandemic and its unending conspiracy theories, to Nigeria's state failure in nearly all fronts, then, to the ominous test of our democracy, 2020 was almost like a gulag and slaughter house.

Where both our human and democratic lives were pinned down to the vagaries of a pandemic and a Supreme Court judgement on Imo State Governorship Election that ended up upturning our senses about the true meaning of democracy. 2020 was a year in history, Nigeria's electoral jurisprudence vis-a-vis democracy was on trial, specifically in the case of Uzodinma vs Ihedioha/ SC.1462/2019. It was a case and outcome that defiled explanation.

Zooming in on the essence of judicial intervention and arbitration in a democracy, the verdict of the Supreme Court stripped the constitutional powers of the electorates to decide who governs them. And turned round to bequeath those powers on jurists far removed from the Eastern Heartland where Imo lies.

The verdict set in motion a debilitating web of confusion about the very essence of democracy and elections, and the constitutional powers of the voters. Never in the history of the Supreme Court since 1963 when it was established, had there been an audacious rebuke of the court by its own member - a Supreme Court Judge.

According to Justice Chima Nweze JSC, who gave a dissenting verdict in the matter, the decision by the Supreme Court in the case of Uzodinma vs Ihedioha/ SC.1462/2019 "will continue to hunt our (Nigeria's) electoral jurisprudence for a long time to come." Another elder statesman, Tanko Yakasai added a pun to the decision of the Court, when he said, with the judgement, it is "junior Okorocha out; senior Okorocha in."

Although, the Supreme Court is infallible and unquestionable, the decision in the matter of Uzodinma vs Ihedioha/ SC.1462/2019 and the pronouncement of a candidate whereby this same court had in Uche Nwosu vs APP & Others/ SC. 1384/2019 vehemently declined to extricate his party, All Progressives Congress (APC) from abuse of party primaries and double nomination as the winner is likened to malevolent venture and assassination of democracy without remorse.

Some are wondering whether Lady Macbeth's invocation of spirit of mortal thoughts was given life to before the judgement. Where, in the play, Macbeth, she invoked and demanded; "come, you spirits that tend on mortal thoughts, unsex me here. And fill me from the crown to the toe-top full of dirtiest cruelty. Make thick my blood. Stop up the access and passage to remorse, that no compunctious visitings of nature shake my fell purpose...." Admittedly, such invocation often erases any trace of conscience, truth or fear of injustice and the aftermath has always been devastating and injurious to society.

Just as King Duncan fell through the cruelty of Macbeth and his infectious wife, Nigerian democracy took

T

Ihedioha

a piercing bullet and ended up in the ditch. That notwithstanding, the Supreme Court is a bedrock political institution - that potentially preserves the pillars of democracy, elections included. It is paramount therefore that we collectively uphold that institution. Our courts should be enablers of democratic norms; they should never be an avenue that catapults ungovernable persons to become occupants of our governmental institutions - such as Government House.

When such scenarios play out, you have the most condescending trust deficit and legitimacy question hanging on the government and beneficiaries of such a decision. In Imo of today, you now have the people's Governor in the hearts of the voters who voted on the day of the gubernatorial election and another Governor without the electoral mandate of Imo voters. These two worlds have become constant each time Ihedioha visits Imo State from his Abuja base.

From the Sam Mbakwe International Airport, to streets in Owerri, students, artisans, market women and citizens of all shades often trooped out chanting, 'our Governor' 'the people's Governor', 'Omenkeahuruanya' etc. The other, has had his official nomenclature unprofoundly bestowed by Imo people as 'Abuja Governor' - signifying electoral mandate thievery. These two contradictions have battered Nigeria's electoral jurisprudence. And like the Shakespearean Titus Andronicus, the decision of the jurists in Three Arms Zone will continue to resonate in Imo as violence littered on democracy.

Worst still, the decision of the court, as Justice Nweze prophesied and forewarned, has continued to throw up episodic brigandage in the state.

To that effect, Imo State is currently striding on a comedy of errors as occasioned by the brouhaha over the seizure of the properties of the former Governor, Owelle Rochas Okorocha by the current government.

The macabre dance of perfidy that occurred on the 21st February, 2021 exposes Imolites' misgivings and angst against the court as Iberiberism squared up with hopism in the most sordid brawl and ding-dong. As the sad event unfolded, Imolites from far and near relish having Ihedioha back to the

throne. With him, they observed, things would have been different. His touch of calmness, diplomacy, officialdom, rule of law, consensus, networking, building blocks and people's first ideology would have been deployed to avoid any skirmishes or squabbles of the magnitude displayed in the battle of Iberiberism vs hopism.

Thus, it is for this love by the people of Imo State, that Ihedioha has taken this sad episode with calmness without regrets, thrusting all his confidence and belief on God - the ultimate creator.

Ihedioha's quest to govern Imo State, ab initio, was never a power-drunk ambition. It was and remains a painstaking desire to put the interest of Imolites front and centre in governance.

It is from this conviction that he had his job well cut out when he was sworn in as Governor on May 29th, 2019. From his policy framework on agriculture - and the desire to turn Imo to a raw material hub; to infrastructural development, to healthcare service delivery, to education, sports, youths’ development, gender equity, and innovation in governance and the civil service, Ihedioha truly meant business, with Imolites as the chief beneficiaries.

As a policy wonk that he is, Ihedioha had already gone back to the days of Dee Sam Mbakwe to resurrect the quintessential Ahiajoku Lecture Series.

A think-tank for the crystallization of Igbo culture as a melting pot. According to Ihedioha, the Ahiajoku Lecture Series should be geared towards creating a synergy for intellectual alignment of Igbo culture as a corpus of Nigerian, African and global culture.

In tandem with the ‘Rebuild Imo Agenda’ Ihedioha had keyed into Ahiajoku Lecture, to “provoke a veritable platform for intellectual, cultural and enduring institutional memory” for the Igbo nation globally. On the global stage, the American scholar, A. Carl LeVan in his book Contemporary Nigerian Politics: Competition in a Time of Transition and Terror, poured encomiums on Ihedioha for his contribution to the Nigerian democratic space and intellectual cravings on how to deconstruct the nation's politics. These lofty engagements often end up with Imo as the main focus.

Ihedioha believes that with the high quality of human capital that Imo is

blessed with, the running of government and its politics should never be built around hope - hope is abstract. And its philosophy of hopism is inchoate and chaotic, and basically cannot generate the vibe associated with public good.

In Ihedioha's thinking, it should rather be about practical evidence - the one we can see - nkeahuruanya. Neither should governance and the Imo State economy be running in the form of gangsters’ capitalism and other bizarre engagements – like training farmers on rearing rabbits in the name of economic empowerment.

In Ihedioha as then Governor, and with the coming of Joe Biden's Presidency, Imo State missed the opportunity of reaping from the enormous network and connections Ihedioha had built with the Democratic National Committee (DNC).

From Biden himself, to Vice President Kamala Harris to late Congressman John Lewis, Ihedioha would have leveraged such friendship to position Imo as a frontline state, mostly on economic terms. That opportunity still hangs in the balance as Imo voters remain resolute with Ihedioha.

Instructively, as interested parties keep knocking on the doors of the apex court to re-examine previous decisions on Imo 2019 gubernatorial poll, and 2023 beckons, Ihedioha will ever remain indispensable. And whether the purveyors of rigged elections like it or not, Ihedioha still has a date to keep with the people. Sooner or later, the ghost of Imolites' mandate will continue to chase, overrun and trouble those who shortchanged Imo voters in the 2019 governorship election in the state.

Born on 24th March, 1965 in Mbutu, Aboh Mbaise, Imo State, as Chukwuemeka Nkemakolam Ihedioha, the former Deputy Speaker of the House of Representatives attended Mbutu Town School, SDA Primary School, Abule-Oja, Yaba; St. Ephraim's Secondary School, Owerri-Nta, University of Lagos, including executive courses in Stanford and Harvard Universities in the United States. Ihedioha is easily recognized as the man with the green cap - his political identity.

As a political Ijele that he is, his craftsmanship speaks of his grooming and readiness for statesmanship. From his parents, to an aide to to former Senate Presidents Iyorchi Ayu; Late Dr Chuba Okadigbo (the Oyi of Oyi) to Turakin Adamawa, former Vice President, Atiku Abubakar, Ihedioha was well prepared for leadership. His allies applaud him for his dexterity; others are quick to point out his human foibles. They argued that Ihedioha's overt caution in a state that is persistently running amok and serenaded by a pack of political desperados is his greatest undoing politically.

They maintained that Ihedioha misjudged the peculiarities in Imo politics, specifically in a field dominated by Ogbologbos, where he ought to know how to match them blow for blow, force for force and dinero for dinero. If not for those two factors – of speed and swiftness, they stressed that Ihedioha would have been eyeing his exit from Douglas House as second or first term governor now.

Yet, Ihedioha's place in Nigeria's democracy is irreplaceable, timeless and more of an indelible mark of history, specifically, in electoral jurisprudence. Much still lies ahead for the immutable political Ijele with the green cap, as he turns 56 today.

All hail the Omenkeahuruanya Ndigbo 1. Ka ana ga iru. Action! ...Obi, is a journalist and political communication consultant based in Abuja.

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WEDNESDAY MARCH 24, 2021 •T H I S D AY

23

T H I S D AY ˾ ͰͲ˜ 2021

BUSINESSWORLD R A T E S MONEY MARKET OVERNIGHT OBB

A S

REPO 25.50 25

CALL 1-MONTH 3-MONTH

25.00 25.00 27.50

A T

Group Business Editor Obinna Chima Email obinna.chima@thisdaylive.com 08152447875

M A R C H

S & P INDEX INDEX LEVEL 1-DAY MONTH-TO-DATE

567.58% -0.31% 0.90

S & P INDEX 1/4 TO DATE YEAR TO DATE

1 9 ,

2 0 2 1

-15.32% -15.32 %

EXCHANGE RATE N379/1US DOLLAR* ̩

Quick Takes Access Guarantees One Day Reversal

PROMOTING AFCFTA

L-R: Lead Program Coordination, Monitoring and Evaluation, National Action Committee on African Continental Free Trade Area Agreement (AfCFTA), Babafemi Lawal; Senior Special Assistant to the President and Secretary, National Action Committee on AfCFTA, Francis Anatogu, and Group Managing Director, Re-Ingnite Public Affairs Limited, Member CMC Connect Group, Yomi Badejo-Okusanya, during a media parley on the AfCFTA held in Lagos...recently abiodun ajala

NAICOM to Implement Corporate Governance Structure from June Ebere Nwoji The National Insurance Commission (NAICOM), said it will commence the implementation of the insurance industry’s corporate governance guidelines from June 1, 2021.

NAICOM, which disclosed this in a publication on its website noted that the guidelines were issued on March 17, 2021.

It implored all insurance and reinsurance firms to comply with the guidelines and the Nigerian Code of Corporate Governance 2018.

According to NAICOM, noncompliance with the Nigerian Code of Corporate Governance (NCCG) 2018, and the guidelines shall be a violation of Section 49(1)b of the National Insurance Commission Act 1997 and attracts penalty under Section 49(5) of the Act. The regulator maintained that its principal objective in spelling out the guidelines was to ensure

INSURANCE effective administration, supervision, regulation and control of the insurance business in Nigeria.

It added that Section 11 C and 51 C of the Financial Reporting Council of Nigeria (FRCN) Act, 2011 confers on the FRCN the power to ensure good Corporate Governance Practices in public and private sectors of the Nigerian economy.

It noted that the FRCN issued the Nigerian Code of Corporate Governance (NCCG) 2018, to institutionalise corporate governance best practices in all companies in Nigeria and repealed all other sectorial codes.

“The Commission in exercise of its powers under the National Insurance Commission Act 1997 and in collaboration with FRCN hereby issues its Corporate Governance Guidelines (the Guidelines) to assist the implementation of the NCCG 2018”,

“The Guidelines, shall be read and interpreted in conjunction with the provision of NCCG 2018 and replaces the NAICOM Code of Good Corporate Governance for the Insurance Industry 2009,” it added.

The guidelines in addition to other issues, spelt out the duties of members of board of insurance and reinsurance firms, their duties and qualifications.

It also spelt out the structure and composition of board and management of each firm saying, “the structure and composition of the board shall be such as to maintain the confidence of the shareholders and management.”

It added: “The insurance/ reinsurance company shall have not less than seven members and not more than fifteen members on its board.”

It stated that the board shall consist of executive and non-executive directors out of which not more than 40 per cent of the members shall be in the

executive capacity.

Furthermore, it stated that in addition to the provision of Principle 2.7 of the NCCG 2018, no one person shall occupy the position of Chairman and Managing Director/CEO in related insurance companies at the same time, adding that no two members of the same family (nuclear and extended) shall occupy the position of the Chairman and Managing Director/Chief Executive of any insurance company.

“No member of the board shall draw remunerations beyond the normal entitlements for such appointment.

“Membership of the board shall include at least one independent director, who does not represent any particular shareholding interest nor hold any business interest,” the document stated.

On the responsibilities of the board, the NAICOM corporate Continued on page 24

Nigeria, Others’Debts Conundrum a Dilemma, Analysts Insist Goddy Egene Analysts at FBNQuest Research, have said the debt conundrum of African countries have left the continent in a dilemma considering the rising budget deficits coupled with the need to fund the deficits.

According to the analysts, if Africa was to stop depending on donors and multilateral funds to finance its economic development, it needs to evolve towards market-based financing for the quantum of financing required.

“In addition, African countries need to promote market-friendly policies that will attract capital to underserved sectors and allow

CAPITAL MARKET the states to focus its limited financing on priority sectors such as education, health, and social services,” they said.

FBNQuest stated this in a report titled: “The impact of COVID-19 on the debt capital markets in Africa,” noting that as the coronavirus bites harder against the increasing debt-togross domestic product (GDP) ratios coupled with increasing risks in African countries, the pricing of new issuances in the international debt capital markets became relatively unattractive.

This, they said, made African governments to turn to other

concessionary sources like the International Monetary Fund (IMF), World Bank and Development Finance Institutions for funding.

The FBNQuest explained that with the already rising value of the total public debts in many African countries, to combat the prevailing crisis of the coronavirus, some African countries opted for multilateral financing.

“One of such countries is Nigeria. The country, in the second quarter of 2020, requested $6.9 billion of multilateral financing from the International Monetary Fund (IMF), World Bank and African Development Bank (AfDB) to minimise the impact

of the upsurge of the global pandemic.

“Part of these funds was to establish a $1.2 billion COVID-19 crisis intervention fund to upgrade healthcare facilities across the country and to provide intervention funds to the 36 states including the Federal Capital Territory (FCT),” FBNQuest said.

The analysts said activities in the domestic bond market significantly increased given the relatively low yields in the market. They noted that in the first half of 2020, seven corporate bond issuances were raised to the tune of N152.7 billion compared Continued on page 24

Access Bank Plc has upgraded its service platforms to allow for resolution of failed transactions within one business day.

According to a statement, the bank has guaranteed that all failed transactions will be reversed within one business day. It has also affirmed that in the event that reversal time exceeds one business day, customers would be entitled to a refund of up to five times the bank transfer fees for that transaction.

Speaking on the development, Access Bank’s Chief Customer ExperienceOfficer,OgorChukudebelu,saidthebankwascommitted to “offering more banking convenience for all customers.”

“AccessBankunderstandsthefinancialandeconomichardshipscaused by the COVID-19 pandemic. While we have put various social impact projects in place, we have also upgraded our banking platforms to ensure that customers can transact without experiencing delays.

“To reiterate our commitment to providing an excellent service, Access Bank will be refunding customers up to five times the bank transfer fees when a failed transaction is not reversed within one business day.

“As we continue to make great strides as a financial institution, we will not relent in delivering superior value and bespoke financial services that suit the banking needs of our customers” Chukudebelu said.

The statement noted that without compromising on its promise to deliver services with speed and maximum security, through the implementation of sustainable banking practices, Access Bank continues to lead the revolution for financial institutions around the globe; effectively merging technology and people to deliver stellar client service to customers across all its countries of operation.

P&G Commits to Gender Equality

In its effort to promote gender equality and thought-provoking conversations to bring about an equal future for all, consumer goods Company, Procter & Gamble Nigeria in partnership with UNWomen recently hosted its flagship Gender Equality summit.

Hosted virtually for the first time, the event saw distinguished advocates and personalities from government, industry, civil society, and the media come together to address the challenges of gender and women’s equality, which have been severely impacted by the pandemic.

Built on the theme ‘#Unsaid and #Undone’, speakers and panelists discussedsomeofthestereotypicalexpectationsfrombothgenders, re-occurringgenderchallengesandprovidedpracticalinsightsonhow to address some of the challenges presented by gender inequality, amplify the narrative, and further the cause of gender equality across sectors, industries, and cultures in Nigeria.

Speaking at the summit, the Managing Director of Procter & Gamble Nigeria,Mr.AdilFarhat,announcedP&GNigeria2021genderequality declarationswhichincludedtheintroductionof‘SharetheCare’policy whichgrantsparentalleaveof8weeksforallnewbiologicaloradoptive parents and a 6-month maternity leave for birth mothers.

FarhatalsonotedthatP&Gwilleducatemorethan50,000adolescent girls on puberty and menstrual hygiene over the next three years in Nigeria through our Always Keeping Girls in School (AKGIS) program which will also provide a year supply of sanitary pads so that they can commit to their education and their future.

Amazon Workers Strike in Italy

Amazon workers in Italy went on a 24-hour strike on Monday in the first such action by the US company’s entire logistics operation in the country, including third-party delivery service providers.

Trade unions estimate Amazon’s delivery systems rely on 40,000 workers in Italy including staff at its logistics arm, which employs most of Amazon’s 9,500 long-term staff in the country.

According to Reuters, Italy’s FILT-CGIL, FIT-CISL and Uiltrasporti unions called the 24-hour strike after failing to reach common ground at two meetings in January with Amazon and the collapse of negotiations with employers association Assoespressi, which represents delivery firms.

Marco Odone of Uiltrasporti said protests were widespread across Amazon sites and preliminary estimates found 70 per cent to 75 per cent of workers did not report to their jobs.

“The real cost is $1.34 billion.

Even then you could argue and say why you wouldn’t build a new refinery. We have also seen some curious comparisons that shell sold one of its refineries for $1.2 billion and that it’s even better than our own,

GMD, NNPC

Mallam Mele Kyari

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BUSINESSWORLD NAICOM TO IMPLEMENT CORPORATE GOVERNANCE STRUCTURE FROM JUNE governance guidelines stated that the board members would among other responsibilities review their individual companies’ corporate strategy, major plans of actions, risk policy, business plans, setting performance objectives, monitoring implementation and corporate performance and overseeing major capital expenditures and acquisitions.

It said the board members should be responsible for selecting, appointing, compensating, monitoring and where necessary, replacing executives/management and putting in place a succession plan for the company.

According to the document, they should also be responsible for monitoring the effectiveness of the governance practices and make changes as may be necessary. “Monitoring and managing potential conflicts of interest of management, board members and shareholders, including misuse of corporate assets and abuses in related party transactions.

NIGERIA, OTHERS’ DEBTS CONUNDRUM A DILEMMA, ANALYSTS INSIST

to N54 billion raised in three issuances in 2019.

According to the data by the Debt Management Office (DMO), the nation’s debt stock data at the third quarter (Q3) 2020 showed that the total public debt portfolio of the federal and state government combined stood at N32.22 trillion ($84.57 billion), an increase of 22.9 per cent but a decrease of one per cent in dollar equivalent due to the different exchange rate values within the periods. “Nigeria’s total public debt showed that $31.99 billion (or 37.82 per cent of the debt) was external while $52.59billion (or 62.18 per cent of the debt) was domestic. Further disaggregation of Nigeria’s foreign debt showed that $16.74 billion of the debt was multilateral; $502.38million was bilateral (AFD) and another $3.26 billion bilateral from the Exim Bank of China, JICA, India, and KFW while $11.17 billion was commercial which are Eurobonds and Diaspora Bonds,” FBN Quest said.

NEWS

BPE Prepares to Concession 700MW Zungeru Hydro Plant by December Chineme Okafor in Abuja The Bureau of Public Enterprises (BPE) plans to concession the 700 megawatts (MW) Zungeru hydro power station by the end of this year, a document detailing its plan for this has indicated.

According to a recent invitation to potential transaction advisors, the bureau placed the percentage of work done at the power plant at 87, with the balance of work expected to be completed by December 2021 for its concession.

It noted that the plant was expected to generate 2,630 gigawatts hour of electricity to the national grid per annum, adding that the successful transaction adviser would have to prepare it for the concession transaction.

“In furtherance of its programmes aimed at boosting electricity service provision in the country through the direct participation of the private sector the Federal Government of Nigeria, through the National Council on Privatisation (NCP) and the Bureau of Public Enterprises (BPE), hereby invites “Expressions of Interest” from prospective technical advisers to provide transaction advisory services for the process of concessioning its 100 per cent owned brand new 700MW Zungeru hydroelectric plant,” the document stated.

“Zungeru hydroelectric plant,

which is designed to generate 2,630GWh per annum has currently exceeded 87 per cent overall completion and would be ready for use by December 2021,” it added.

The BPE further explained that the transaction advisor will evaluate the present status of the plant by undertaking a due diligence review of the plant and the activities necessary to prepare it for concession.

The advisor will also review all relevant laws, regulations, policies that could impact the plant’s

successful concession, develop concession strategies that would attract the interest of world class investors and develop detailed concession plans for the plant along the lines of the strategic concession criteria determined by the NCP. Furthermore, the advisor will conduct the marketing and bidding processes necessary for maximising private sector participation in the concession of the plant, while developing a post-concession exit strategy options for the plant.

It noted that potential advisors

must possess at least 10 years of relevant experience, including previous work on similar projects in developing countries within the past 10 years, to be considered for the job.

“Interested advisors should indicate their interest by providing detailed profile of the company or group indicating full name of the company and the contact person, postal address, telephone number, and e-mail address, ownership structure including brief profile of significant shareholders,

evidence of registration with relevant authorities, proof of capabilities in carrying out the concession of a large hydroelectric power plant indicating number of years of experience and list of relevant transactions handled,” it explained.

Additionally, potential advisor would have to back their claims with evidence of successful completion of the concession of a large utility as well as a work plan for the concessioning transaction and proof of financial standing.

PRODUCTUNVEILING

L-R: Brand Manager, Trophy, Aanu Oyewole; Marketing Director IB Plc, Tolulope Adedeji; Marketing Manager Trophy, Bamise Oyegbami and celebrity guest,SophieAlakija,attheunveilingofTrophyTallestBeerBottleinLagos...recently ETOPUKUTT

IEA Report Dampens Hope of Expected Oil Supercycle Emmanuel Addeh in Abuja The International Energy Agency (IEA) has said that oil prices were unlikely to mount a dramatic and sustained rise, stressing that the prospects of the much expected ‘supercycle’ still remains forlorn.

A supercycle is a sustained spell of abnormally strong demand growth that producers struggle to match, sparking a rally in prices that can last a year or even more.

Two of the biggest banks on Wall Street, recently called a new “supercycle” in oil, with JPMorgan Chase and Goldman Sachs both predicting prices will soar when

the pandemic abates.

The Paris-based body said it expected American crude production to fall by 180,000 and demand to be only be 1.4 million barrels a day short of pre-pandemic levels, in the final quarter of 2021.

It said: “Oil’s sharp rally to near $70 [£50] a barrel has spurred talk of a new supercycle and a looming supply shortfall. Our data and analysis suggest otherwise.”

However, in its latest monthly report, the IEA boosted oil barrels to 100,000-barrels-a-day (bd), saying it was the amount by which it expects global oil demand to rebound in this year, which was

5.5 million bd.

Predicting that a sustained high demand was unlikely, the IEA predicted that demand won’t return to pre-pandemic levels until 2023 and could peak earlier than previously thought.

Although it dampened the hopes of a supercycle, it however attributed the increase to a number of factors, including economic rebound due to the vaccine rollout in Q3 and Q4 as well as cold winter weather in the first quarter of this year.

The IEA, which monitors energy market trends for the world’s richest countries, explained that there is too much oil sloshing

around global markets for a supercycle to take hold.

“For a start, oil inventories still look ample compared with historical levels despite a steady decline from a massive overhang that piled up during the second quarter of 2020,” it said.

“The prospect of stronger demand and continued OPEC+ production restraint point to a sharp decline in inventories during the second half of the year.

“For now, however, there is more than enough oil in tanks and under the ground to keep global oil markets adequately supplied,” the IEA said in its report.

The report comes as the Organisation of Petroleum Exporting Countries and its allies (OPEC+) agreed measures last week to mostly maintain their supply cuts for April, galvanising the market and causing investors to predict a super-cycle, a large multi-year price rise.

An increase of 500,000 barrels a day was widely expected, however, Saudi Arabia agreed to maintain a voluntary 1 million barrels per day cut despite calls from some smaller producers to allow a modest loosening.

Russia was allowed a 130,000 barrel a day increase in quota and Kazakhstan 20,000.

Duport Modular Refinery Ready for Inauguration Q4 2021 Emma Addeh and Peter Uzoho Group Business Editor

ÌÓØØË ÒÓ×Ë Capital Market Editor

Goddy Egene

Comms/e-Business Editor

××Ë ÕÙØÔÓ Asst. Editor, Money Market ß×Ï ÕÏÑÒÏ Senior Correspondent

ËÒÏÏ× ÕÓØÑÌÙÖß (Advertising) Correspondents

ÒÓØÏÎß äÏ (Aviation) ÜÙ×ÙÝÏÖÏ ÌÓÙÎßØ (Maritime) Ë×ÏÝ ×ÏÔÙ (Finance) ÌÏÜÏ áÙÔÓ (Insurance) ÒÓØÏ×Ï ÕËÐÙÜ (Energy) Emmanuel Addeh (Energy) Reporters

ÙÝË ÖÏÕÒßÙÑÓÏ (ICT) Peter Uzoho (Energy)

The Executive Secretary of the Nigerian Content Development and Monitoring Board (NCDMB), Mr. Simbi Wabote, has said the 2,500 barrels per day modular refinery under construction at Egbokor, Edo State by Duport Midstream Company Limited in partnership with the NCDMB will be ready for inauguration in the last quarter of 2021.

Wabote disclosed this recently, during his visited to the project site to assess the progress of work on the fabrication of the tank farms, civil works, pipeline installation and other site preparation works and confirmed that the project had reached 80 percent completion.

According to a statement by the board’s corporate com-

munication arm, the executive secretary said the modules for the two-megawatts power plant and the control room were being fabricated and assembled in Lagos for delivery to the site.

The modular refinery is part of the Duport Energy Park conceived to include a 30-million standard cubic feet per day gas processing facility and a power plant.

NCDMB’s partnership with the Duport Energy Park was approved in June 2020 by the board’s Governing Council chaired by the Minister of State for Petroleum Resources, Chief Timipre Sylva.

The project is being supported under NCDMB’s commercial ventures programme, which is also in sync with the agency’s vision to serve as a catalyst for the industrialisation of the

Nigerian oil and gas industry and its linkage sectors.

The NCDMB chief commended the contractors for the substantial progress they had made on the project and hinted that the operational phase of the refinery would create employment for 100 persons and indirect and induced jobs for about 1,500 persons. Wabote emphasised that the board’s partnership with Duport Midstream and other investors to develop critical energy facilities were conceived to support President Muhammadu Buhari’s drive to create millions of jobs for the Nigerian populace.

He assured that NCDMB was committed to create jobs for Nigerians through its direct projects and partnerships with other project promoters.

According to Wabote, “When the Federal Government enunciated the policy on the development of modular refineries, NCDMB decided to explore ways through which we can build modular refineries to refine products locally.

“We first partnered with Waltesmith Modular Refinery in Imo State and it is already operational, refining 5,000 barrels of crude per day.

“Azikel Modular Refinery in Bayelsa State is the second one and this Duport project is the third project and we believe that it would be commissioned in the last quarter of this year.”

Chairman of Duport Midstream Company, Dr. Akintoye Akindele, hinted that the project would be the first integrated energy park, with a scalable and environmentally friendly modular

refinery, power generation and distribution plant. The executive secretary and his delegation also paid a courtesy visit to the Governor of Edo State, Mr. Godwin Obaseki, at the Government House in Benin.

He remarked during the visit that Section 70 of the Nigerian Oil and Gas Industry Content Development (NOGICD) Act mandates the NCDMB to assist local contractors and Nigerian companies to develop their capabilities and capacities to further the attainment of the goal of developing Nigerian content in the Nigerian oil and gas industry.

Wabote added that the board relied on that provision to go into partnership with select project promoters to catalyse the realisation of federal government’s policy pronouncements.

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Total Achieves Four-Year Milestones in Road Safety Peter Uzoho Total Nigeria Plc has highlighted significant milestones it recorded in the area of road safety in Nigeria in the last four years, which it attributed to its Truck Drivers’ Initiative.

Total explained that the initiative which was set up against the backdrop of serious concerns about the state of trucks and drivers conveying petroleum products on Nigerian roads, was improving road safety in Nigeria with continuous training and audits.

The company disclosed at a recent online parley with journalists that it had conducted 2,181 truck driver training and 2,740 truck audits at its training facility in Ibadan, Oyo State between 2017 and 2020. It said it also helped other players to conduct 2,149 truck audits between 2018 and 2020.

The company noted that the effort had resulted in zero fatalities and severe accidents, zero lost time injury and zero spill in cubic metres, amongst its drivers since 2017. The petroleum products marketing company also revealed that its truck drivers training had ensured, “Improved defensive driving skills. Reduction of road accidents caused by driver behaviour and truck breakdown.

“Handling of dangerous goods during transportation and public

enlightenment on road safety topics; and Government regulatory agencies’ campaigns.”

Providing more insight into the Total downstream’s activities, the Executive General Manager, Total Country Services, Bunmi Popoola-Mordi , noted that one of the areas that the company had been contributing enormously in the country was in the area of road safety. She said the parley was not only intended to highlight the contributions of the company to road safety but to inform and galvanise stakeholders in order to get feedback for continuous improvement.

Fielding questions on the Truck Drivers Initiative, the General Manager, HSEQ Mr. Muhyideen Nuradeen, maintained that while the company was in the business of making profit, it was more interested in saving lives.

He added that the company was also interested in making the roads as safe as possible and making sure drivers returned safely to their families and loved ones at the end of each business day.

However, the company explained that its stakeholders including the Federal Road Safety Corps (FRSC), Nigerian National Petroleum Corporation (NNPC), Major Oil Marketers Association of Nigeria (MOMAN) and the National Association of Road Transport Owners (NARTO), were being involved in the initiative.

Sylva: How $1.5 Port Harcourt Refinery Rehab Will Be Funded Emmanuel Addeh in Abuja The Minister of State for Petroleum Resources, Chief Timipre Sylva, has said the Port Harcourt refinery rehabilitation project will be jointly funded by the federal government, the Nigerian National Petroleum Corporation (NNPC) and Afreximbank.

Sylva, who spoke on a national television on Sunday, urged Nigerians who are opposed to the project to hold him accountable for every dollar that will be spent on rehabilitating the 210,000 bpd refinery. Last week, the Federal Executive Council (FEC) approved $1.5 billion for the rehabilitation

of the refinery, a development that has received flaks from many Nigerians including Atedo Peterside, Peter Obi and Atiku Abubakar.

“They (Nigerians) can hold me accountable and hold this government accountable for every dollar, every cent on this refinery and ensure that we deliver a refinery that works,” he said.

Sylva noted that the rehabilitation will take 18 months and the first phase will get the refinery to 90 percent operational capacity, stressing that President Muhammadu Buhari was bent on leaving a legacy including making sure that the refineries are working.

“It is not going to be all debts, we are not going to borrow all the monies that are going into the rehabilitation.

“NNPC is going to spend about $200 million from its internally generated revenue sources, while the federal appropriation will put in about $800 million and it is already broken down into three parts. “The 2020 appropriation will give $350 million, 2021 appropriation will give another $350 million, and 2022 appropriation will give another $100 million, making it all $800 million from appropriation, and then the rest of it will now come from Afreximbank,” he explained.

He maintained that the project would be in three phases, adding that the first phase was going to be within the tenure of this administration.

“You should hold us. It is 18 months and we are going to take the refinery to 90 percent of its main capacity and that is what you should hold us to,” he posited.

While defending the project, the former governor of Bayelsa state noted that the federal government also plans to rehabilitate other refineries in the country, explaining that the move is not a waste of funds as believed by many Nigerians.

Saudi Aramco’s 2020 Profits Drop by 44% to $49bn Emmanuel Addeh with agency report Saudi Arabia’s state-backed oil giant Aramco announced Sunday that its profits nearly halved in 2020 to $49 billion, a big drop that came as the coronavirus pandemic roiled global energy markets.

The Saudi Arabian oil company released its annual financial results a year after the pandemic sent the price of oil crashing to all-time

low as people stopped moving around the world to stem the spread of the virus. In recent weeks, however, the price has edged up as movement restrictions ease, commerce increases and more people get vaccinated against COVID-19. Still, analysts caution that a peak in demand may still be far off.

The Associated Press reported that despite the 44 per cent drop in net income, Aramco said it would stick to its promise of

paying quarterly dividends of $18.75 billion — $75 billion a year — due to commitments the company made to shareholders in the run-up to its initial public offering.

Nearly all of the dividend money goes to the Saudi government, which owns more than 98 per cent of the company.

Aramco’s policy to pay dividends significantly higher than its 2020 free cash flow of

$49 billion stands in sharp contrast to other oil giants that have cut payouts.

Seeking a cash infusion to pay the billions of dollars in the face of dwindling revenue, Aramco recently issued bonds.

The public figures, obligatory ever since the mostly state-owned company listed a sliver of its worth on Riyadh’s Tadawul stock exchange in 2019, offer valuable insight into the health of the region’s largest economy.

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FG Fixes 600MW Egbin-Ajah Transmission Line Stories by Emmanuel Addeh in Abuja The federal government has through the Transmission Company of Nigeria (TCN) successfully completed the construction of a new transmission tower in Ajah, linking it to the new 330 kilovolts Egbin - Ajah transmission lines.

A statement in Abuja by the

General Manager, Public Affairs of the TCN, a wholly government owned-company, Mrs Ndidi Mbah, also indicated that both lines have been energised.

It stated that the new line increased the transmission lines capacity on that route by 600 megawatts, bringing it to a total of 1,200MW, noting that while the old line was re-energised

on Saturday 13th March, 2021, the new line was energised on Monday 15th March, 2021.

The TCN stated that prior to the resuscitation of the second Egbin-Ajah transmission line, the Ajah 330/132/33kV substation operated through a single circuit 330kV transmission line, after the second line was isolated in 2013, due to the sub-station insulation

device failure. Within the period, it noted that the lone 330kV line had a maximum capacity of 600MW, but with the resuscitation of the second 330kV line and the diversion of both lines along the new tower line route, the transmission lines capacity have now doubled.

“With the new 330kV line, TCN has fulfilled the N-1 reliability criteria on that line route,

providing redundancy. Each of the lines can serve as ‘back-up’ for the other during maintenance.

This has increased transmission efficiency and reduced downtime on that line route.

“The 13.8 kilometre transmission line receives power supply from Egbin 330kV transmission substation and supplies the Ajah 330kV substation; Lekki 330kV

substation and Alagbon 330kV transmission substation,” the TCN stated.

It added that the additional 330kV transmission line, equally means that more bulk power is now supplied to the substations of Eko Electricity Distribution Company (EKEDC) taking supply form the listed transmission substations.

Aiteo Sees Digitalisation as Panacea to Oil Sector’s Headwinds Aiteo E&P Ltd, has underscored the need for oil and gas sector players to embrace digitalisation as one of the panaceas against the storm brought about by the emerging challenges resulting from the Covid-19 pandemic.

Speaking at this year’s Oloibiri Lecture Series and Energy Series organised by the Society for Petroleum Engineers (SPE), Group Managing Director of the company, Victor Okoronkwo, argued that digitisation is no longer an option but a fundamental requirement for companies to remain in business.

The event which took place in Abuja was tagged: “Operational Excellence and Portfolio Optimisation :Way Forward for the Oil and Gas Industry Post Covid-19.”

Okoronkwo posited that the oil and gas industry is still grappling with the aftermath of the twin tragedies of the dramatic crash in oil price on one hand, and the collapse in demand on the other hand, both tragedies triggered by Covid-19.

Okoronkwo stated that with the price volatility and geopolitical tussle between Russia and Saudi Arabia experienced during the first wave of global Covid-19 lockdown, financial leadership and liquidity risk management will remain major areas of focus for upstream oil and gas companies.

“Digitalisation and big data have also become key tools for success in the industry and will gain even more prominence in

a post-covid era. The industry is not out of the woods yet, despite the promising trends in price being influenced by OPEC+ production cuts.

“So, today digitalisation is no longer an option but a fundamental requirement for companies to go leaner and to remain competitive particularly in this era of energy transition,” he noted.

Okoronkwo added that the lockdown has demonstrated that with increasing speed and capacity in connectivity, digital tools were no longer just enabling communication, but are providing and accelerating opportunities for value creation and value capture.

He added that this was being done through enterprise integration, communication across multiple social media, remote monitoring, task automation, all to enhance operational efficiency, integrity, and process safety.

However, he explained that successful implementation of digitalisation will require amongst other things – collaboration across multiple industry stakeholders including investors, leaders and even policy makers.

“It will also require reforming existing enterprise data architecture, adoption of cloud computing, internet of things, artificial intelligence, drone technology, social media and whole lot of other emerging mobile computing and communication platforms.

‘Gender Parity Vital in Driving Change’ Ugo Aliogo Beyond Perception, a digital transformation agency has lent its voice to gender parity and women inclusion movement through a recent webinar with the theme: “Tech, Her and the Future.”

In commemoration of this year’s International Women’s Day celebration, the brand hosted a conversation with female professionals across different industries.

A statement by the agency said the discourse was majorly focused on highlighting the invaluable contributions of women to society and economy, while charting the path towards achieving gender parity in the technology space.

It further stated that the webinar provided an opportunity for the sharing of valuable sight on gender parity and women inclusion. It noted that some of the key personalities at the webinar were the chief host, Gloria Olufeko, who is also a

presenter at Africa Tech Radio; and co-host Ebun Amusan, Head of Strategy at Beyondperception. io; the Senior Special Assistant to the Governor of Lagos State on Development, Partnership, and Economic Planning, Ayisat Agbaje; Brand Campaign Manager, Tecno, Infinix and Itel West Africa, Seun Badmus; and Lagos Housewife, Rayo Ahenmokhai.

It noted that as part of efforts to achieve gender parity, there was the need for proper education on the different layers of the subject. It posited that appropriate sensitisation on gender parity would be vital in positively influencing, both men and women to act thoughtfully towards achieving it, “this stresses the importance of holding events like this at frequent intervals.”

Badmus pointed out that there was a lot of room for female professionals in technology, adding that social constructs have been a major limitation to the participation of women in the field.

Oil Companies’Difficulty in Accessing Funding Linked to Fiscal Challenges Peter Uzoho Total Exploration and Production Nigeria Limited has stated that apart from environmental and societal pressures on the global oil and gas industry, issues around insecurity and uncertainty in the fiscal and regulatory environment have contributed to the difficulty in accessing funding for projects by operators in the country’s oil and gas sector.

The Executive Director and Chief Financial Officer of Total E&P Nigeria, Mrs. Tai Oshisanya, stated this in a presentation she delivered at this year’s Oloibiri Lecture Series and Energy Forum organised by the Society of Petroleum Engineers (SPE) Nigeria.

Oshisanya, who spoke on the topic: “Environmental, Social and Governance (ESG) Dynamics and Industry Projects Financing – IOC Perspective,” noted that such challenges had resulted in the “loss of new investments in the industry and difficulty in obtaining

funding for projects”.

According to her, not only do new projects require low carbon emissions, they must also be profitable with favourable fiscal terms that preserve value of present assets and assure future investments. “Capital is not static – it drifts to where there is stability and certainty. Nigeria has to be competitive,” she stressed.

She said, therefore, the industry welcomed government’s enthusiasm to pass the Petroleum Industry Bill, (PIB) iAnto law this year, noting that it was vital that the bill provides the stability needed to attract adequate funding for new investments, particularly in Deep offshore and gas development sectors. Oshisanya, however, acknowledged the adverse impact of the COVID-19 pandemic on the world and the energy industry.

She said Total had adapted to the new reality through staff dedication, strict cost considerations, robust planning, among others, adding, “We have been

able to keep our operations running smoothly and growing our production levels.”

The CFO, however, stated that the global energy landscape was changing dramatically, occasioned by a drive for a cleaner environment and a commitment to reduce the risk and impact of climate change.

She said the Paris Climate Accord, adopted in 2015 by World Governments, which came into force in 2016, pledges to limit global temperature rise to two degrees Celsius above preindustrial levels and preferably to 1.5 degrees Celsius.

Noting that it was estimated that about 10 billion people worldwide would need access to energy by 2050, which represents about 50 per cent increase from today, Oshisanya argued that the industry was hereby presented with two targets - growth in energy demand and a climate change commitment She emphasised the need

for the oil and gas industry to respond with a cleaner, efficient, affordable and sustainable energy mix as the world was seeking a cleaner environment by reducing greenhouse gas emissions, On the back of that, she described Total as a leader in the ongoing broader energy transition, pointing out that the oil major had taken remarkable steps and initiatives to reduce its Carbon Footprint.

She added that the company had equally, “set an ambition of a ‘Net zero carbon emissions by 2050’ or sooner across our worldwide activities, both direct from our operations and indirect emissions from third parties linked to our operations. This includes all emissions.”

She revealed that Total was also targeting a 60-per cent reduction by 2050 in the average carbon intensity of energy products used

by Total’s customers worldwide, adding that its projection for 2030 was to supply a third more

REA Holds Capacity Building Forum with Developers, Others The Rural Electrification Agency (REA) has held a technical workshop with minigrid developers and solar home systems distributors on the Nigeria Electrification Project (NEP) and Solar Power Naija 5million connections programme.

The objective of the technical workshop, a statement from the agency said, was to sensitise sector stakeholders on the NEP and Solar Power Naija with the aim to increase private sector participation

and explore areas of partnerships.

Speaking during the event, the Managing Director of the agency, Mr. Ahmad Salihijo reiterated that the REA will not relent in its efforts to supply electricity to unserved Nigerian communities.

“This workshop is designed to facilitate the increase in private sector participation of all eligible renewable energy developers to explore partnerships with the REA,” he stated.

Salihijo noted that when fully

forged, the end goal of the partnership will be to impact the lives of Nigerians with clean, safe, reliable and affordable electricity in the off-grid communities and empowering them in the productive use of energy.

He also reiterated the commitment of the federal government to providing renewable energy solutions that will complement the traditional grid extension as a means of delivering electricity to the unserved population.

The workshop participants were enlightened on the guidelines and application processes for the solar-hybrid mini-grids, Solar Home Systems (SHS) and the Productive Use Appliances and Equipment (PUE) components of the Nigeria Electrification Project and Solar Power Naija.

The forum also thanked All-On, having helped companies raise funding and provide tips for making their off-grid business investment friendly.

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Oiwoh:Why NQRSolution is Better MeansofPayment The Managing Director/Chief Executive Officer of Nigeria Inter-Bank Settlement System Plc, Premier Oiwoh, in this interview speaks about the New Quick Response (NQR) payment solution code, an innovative payment platform launched for all financial service providers in the country. Oiwoh explains that with more people being able to pay for goods and services with just their smartphones, the NQR payment is about re-creating the Nigerian payment experience whilst deepening financial inclusion in the country. Obinna Chima provides the excerpts:

C

an you tell us more about NQR and why NIBSS is introducing it into the Nigerian market?

The NQR is an electronic payment and it is alternative to cash transaction. Most SMEs and service providers in the country today require instant payment and that is why people still rely on cash. To solve that cash problem in the society as a lot of people still rely on cash, the NQR has been fully developed to meet a lot of Nigerians’ needs by understanding our ecosystems and working to ensure that the product meets the needs of the ecosystem. The payment platform is faster in terms of payment process. The buyer does not need to reveal his/ her account number to the seller. It just requires scanning and the payment is done and the buyer and seller get their alert instantly. In the area of value, we are looking at efficiency. It is faster and safer means of payment. With the pandemic, the product provides a better means of payment rather than touching cash or any other device.

The consumer is in control of his/her mobile phone and from the phone, the buyer can just scan and make the payment.

So, will you say the introduction of the product was informed by the Covid-19 or consumer research to enhance payment?

It was informed by research and it is a product that has been on-going and with Covid-19, it becomes important to use the product for payment.

Thankfully to the CBN Governor and chairman of NIBSS as the standard for the QR policy was released by CBN and that enabled all the process.

Where does this leave the point of sale (PoS) and other forms of payment in the market?

The PoS payment and other forms of payment will continue to exist. QR is just an added form of digital payment. One area this will be well addressed is the micro payment side. For instance, a commuter is going into a bus or buying newspaper from vendor and boarding taxi can pay with QR as many of these micro businesses don’t have PoS. But the micro business operators can display their QR Codes around their neck or somewhere else and the transactions are carried out. In terms of deployment, as noted by executives of banks, it is faster and cheaper in terms of deployment. Most people selling products have their mobile phone, and all they need to do is to present their QR Code the buyer. But the question is how many have people have smart phones and data for connection and what of the farmers in the rural , how will they be served, but we have factored all this in the product. Working with banks, NIBSS we are going to ensure that Nigerians across have a feel of this product.

QR Code as a product has been around for about three years, so why is NIBSS pushing it now and what is the level of security using the system?

If a customer can transact on his/her bank mobile App today, then the customer can use QR Code for means of payment. This is because the same authentication level the customer passed through on the mobile app is the same the customer will be passing through using NQR Code, this means it is safe as a means of payment. Another beauty is cash is avoided. Today Nigeria has grown to a level where anything can be tracked electronically in terms of payment and settlement.

It is quite safe and robust. Though it has been around but there is a time for everything. It is not ideal to take innovations out without going to the laboratory to test it, develop it and make sure it is addressing some specific needs. Today in Nigeria, there are people who move around with goods and wears in their vehicles and as they sell, they are also collecting cash. A few of them though have POS but a lot of them take cash. This QR Code will solve that problem.

QR Code appears to be a higher technology means of payment being introduced in a high

Oiwoh illiterate level society, how do you reconcile the two in the adoption of the payment system?

I can tell you that users don’t need to go to school to use the NQR. It is not complicated and the user does not need to have a smart phone to use the QR Code in a much secured manner.

Today, I am aware of banks that are already paying cash out from ATM simply by allowing customers putting their fingers on the ATM for withdrawal. I am aware of banks working and displaying the NQR Code on their ATM machines by allowing scanning and withdrawal. There are a lot of innovations. What we have done at NIBSS is to build a platform, release the APIs. With PSBs, banks and other service providers in the industry we are going to find a whole lot of innovations around the APIs that has been released. I assure you that the issue of education on the use of QR Code has been taken care of. It is not about some of us resident in urban area, but the greater number of Nigerians in rural areas must be brought into

In two years, I am expecting Nigeria having NQR virtually everywhere. It is all about experience, user friendliness and simplicity. It just requires three steps to make payment which are scan, confirm the amount and put your pin

the eco-system. Many of them don’t have bank accounts but with NQR Code, it will provide the opportunity, technically and in an easy way that will not scar them in terms of how it is used and how they adopt it. Our focus in NIBSS is to lower the cost of providing services. Secondly, we are focused on solving problems within the eco-system. Today, cash is a problem and the cost of managing cash is extremely high either within the banks or by merchants. For instance, if you are a service provider, you still need to move the cash to the bank. You will count and the bank will count but with NQR, the money is hitting your account immediately. This will bring a whole lot of efficiency and dynamism in the economy.

What is the volume of payment that can be made with NQR? This will be determined by each bank in line with the ecosystem. Each bank has the authority to set up the limit they want. But our focus at NIBSS and working with our partners is to ensure that the micro-payment aspect is ensured. My greatest joy is the day I see the man selling gala along the road being able to display his NQR for payment, buses and taxis displaying their NQR for payment. Last week we say tomato sellers opening account because they say NQR working somewhere.

We hear that you are targeting five million merchants/businesses adopting NQR, could you confirm that?

NIBSS will be working with banks as we don’t have direct interface with merchants. Basically I am providing a platform to support payment system. The banks understand the logic behind this. Everybody in the banking system today needs NQR. Today, there are 113 million accounts in the industry and if this is reduced, you can get the ration per bank. If those banks decide to focus on their customers, a lot of banks today are uploading and the merchants are, I think the banks will

devise strategies to go in to the ecosystem. It is all about safety nets and understanding. I believe that most traders who understand the value to adopt the system for payment than carrying cash.

The idea behind this innovation is deepening the financial inclusion, how long have been working on this product and who are you partners?

On the technology and partners, NIBSS has a whole team of technology experts who are involved and who understands Nigerian eco-system. On the financial partners, NIBSS is owned by all the banks and CBN is our leader. The API has been shared to all the banks and now and they are consuming them. They need to get payment into their accounts. For instance, there is low usage of cash in China. We as a nation need to move to that level of digital payment system and it will help the economy in the sense that we will have faster settlement and banks can easily process your type of business and advance credit to customers.

This will help bring those cash-related activity into the ecosystem for a better economy and reduce the cost of minting currency, reduce the cost of processing cash.

In two years, what projections are you looking at?

In two years, I am expecting Nigeria having NQR virtually everywhere. It is all about experience, user friendliness and simplicity. It just requires three steps to make payment which are scan, confirm the amount and put your pin. The way we designed it, we don’t have to build a technology that will scare people, it is a technology very simple and easy to use with the right safety net embedded. My greatest joy will be farmers as well being able to use it to sell their produce.

It will definitely happen because it is all about awareness, adoption and comfort. We need to understand the local market and design product and services that meet the market.

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BUSINESSWORLD

INTERVIEW

Oginni:Mutual Funds IndustryHasBrightProspects Some of the advantages of Mutual Funds are risk mitigation, professional management and low entry level. But many investors are not aware of these. Managing Director/CEO, United Capital Asset Management Limited, Odiri Oginni, spoke on the mutual funds industry, the economy and company’s performance among others. Goddy Egene presents the excerpts:

T

he low yield environment in 2020 saw investors increase demand for assets classes that can generate alpha. How did this affect the growth of your mutual funds?

The collective investment scheme (CIS) industry recorded a lot of growth last year as mutual funds were among the major beneficiaries of the low yield environment. We saw a lot of investors who were seeking for higher returns switch to investing in mutual funds. This was as a result of the competitive returns being delivered by mutual funds as compared to direct investing in low yield fixed income instruments. Our mutual funds were adequately positioned to attract this influx of investors as our funds were among the top performing funds in terms of return. As such, we recorded significant increase in the number of subscriptions into our respective mutual funds.

This led to us closing the year ranked as the third largest mutual fund manager in Nigeria with assets under management of N162 billion. This further reiterates the trust and confidence the investing public has in our capacity to continue to deliver superior returns.

What are the specific highlights for 2020 for the Asset Management Business?

The asset management business had quite an impressive year as we recorded quite a number of significant milestones such as the launch of United Capital Sukuk Fund with an offer size of N1 billion. The net asset value of United Capital Mutual Funds grew by about 315 per cent from N39billion at the beginning of 2020 and closed at N162billion by full year 2020, United Capital Asset management Limited ranked as the third largest CIS Fund manager in terms of mutual fund asset under management with a market share of 10.9 per cent as at 2020. We managed over N250 billion of investors assets through mutual funds, privately managed funds and portfolio management services and we also got assigned a Fund Manager Rating of A-(IM) signifying that UCAML is considered to have Good investment and risk management capabilities.

Seeing the impressive 2020 financial result of United Capital Plc, what role did the asset management play in this performance to contribute to the bottom-line?

The Group’s revenue in FY 2020 grew by 50 per cent to N12.87 billion, from N8.59 billion in full year 2019; profits before tax recorded a significant growth of 61 per cent, while PAT was up 57 per cent year-on-year. Total revenue also increased by 50 per cent year-on-year on the back of strong growth in revenue components. We reported N7.95 billion profit before income tax in 2020, which is a 61 per cent increase compared to the N4.95 billion in 2019. The asset management business contributed about 35 per cent of the Group revenue for the year 2020; this was driven mainly by the growth in assets under management of the mutual funds, a key driver of the fee income of the Group.

Considering the rising yield environment in 2021, do you think this performance in terms of growth in AUM is sustainable?

Over the years we have been able to show resilience in terms of our performance despite the prevailing market forces and the challenging macroeconomic landscape. We do believe our business model is adequately positioned to surpass our 2020 performance in 2021 amidst the rising yield environment. The rising yield environment provides us an opportunity to further improve on our existing returns and position our Funds to take advantage of the expected uptick in yields to generate better returns for investors. This we believe would be in our favour as fund managers and enable us to attract more investors to our Mutual fund offerings leading to further growth of our Assets under management.

Despite the performance in the equities market in 2020, there was little impact on the equities biased mutual funds. Why is this so and what can be done to increase investors’ interest in equity based mutual

Oginni funds?

We have observed over time that most investors are risk averse and would prefer to invest their funds in fixed income fund offerings. As such, there seems to be a lot of apathy towards risker assets like equities. This is not surprising considering that the Nigerian equities market has in the past years consistently underperformed investors’ expectations which has now contributed to how investors perceive the market. Most individuals now prefer fixed income products as compared to equity product which has led to

In 2021, we expect GDP growth to rebound by 1.7 per cent to two per cent, buoyed by increased economic activity and some improvements in the oil market. Although the reopening of the borders in Q4 in 2020 should ease pressures on food prices, other structural factors such as FX market illiquidity, potential increases in petrol price, among others, may keep general prices elevated

the continuous growth of fixed income biased funds at the expense of equity based mutual funds.

However, we believe that investors’ interest in equity based mutual funds might be rekindled if there is a consistent and sustained positive performance in the equity market year on year.

We have seen significant decline in Money Market Mutual Funds and a corresponding rise in Fixed Income and Bonds Funds, is this trend sustainable? How will this impact on the overall growth in the Collective Investment Scheme Industry?

The overall growth in the Collective Investment Scheme Industry is expected to continue to be positive as more individuals become aware of the opportunities that Mutual funds offers. However, the significant decline observed amongst the Money Market Mutual Funds is expected considering that yields on money market instruments such as Treasury bills, Bank deposit, commercials papers have significantly declined within the past one year. The focus is currently on Fixed Income and Bonds Funds as Funds within this segment have continued to deliver the best returns in the market due to the higher yield on Bonds and other fixed income instruments as compared to the lower yields on money market instruments.

Over the years, we have observed that different type of Funds has appealed to investors at different point in time. During the stock market boom, the equity based funds were the darling of investors as the double digit returns on these funds made them very attractive. We also saw the money market funds become the toast of investors when the double digit yields on the funds were above the yields obtainable on the longest bond tenors. This led to the explosive growth seen in the money market fund segment.

However, as yields reversed downwards in the money market segment, we also saw investors divert their interest to fixed income funds as the next fund segment of interest. This explains the

trends we have seen across the different fund segments in recent times.

What is your projection and outlook for 2021 for the economy and how will that impact on the business?

In 2021, we expect Gross domestic product (GDP) growth to rebound by 1.7 per cent to 2.0 per cent, buoyed by increased economic activity and some improvements in the oil market.

Although the reopening of the borders in fourth quarter (Q4) in 2020 should ease pressures on food prices, other structural factors such as foreign exchange (FX) market illiquidity, potential increases in petrol price, among others, may keep general prices elevated. As a result, we expect the headline inflation rate to peak at around 16 per cent before pulling back if no further policy adjustment is made. Again, the high base effect of the headline inflation spike in Q3 and Q4 2020 should moderate further increases in price levels.

In response to rising inflation and in a bid to attract foreign portfolio investment (FPI) inflows to the market, we imagine that the CBN would begin to tighten its monetary policy stance at some point in Q2-Q3 2021. Finally, on the exchange rate, we expect a potential convergence of rates when the CBN begins full intervention at the I&E window. As such, we anticipate that the parallel market will appreciate from N470/$ towards the NAFEX rate which has now been adjusted to N410/$.In summary, we expect 2021 to still be a challenging year as the economy tries to recover from the recession experienced within the last year. That been said, the impressive financial results recorded in 2020 further demonstrates our stakeholders’ confidence in the strategic direction of the organisation. We would continue to strive to exceed our client expectations this year whilst we see the current unprecedented environment as an opportunity to supersede our previous performance and consolidate our position within the industry.

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In Defense of Refineries’Rehabilitation

Alexander Adejoh

M

ixed reactions have continued to trail the move by the federal government to rehabilitate the Port-Harcourt Refining Company (PHRC).

The Federal Executive Council (FEC) recently approved the sum of $1.5 billion for the immediate rehabilitation of the Port Harcourt refinery.

This followed a memo by the Minister of State for Petroleum Resources, Timipre Sylva, on its rehabilitation, which was presented to FEC and its subsequent approval on March 17, 2021.

Indeed, Nigeria’s refineries have suffered years of neglect.

In particular, the PHRC has experienced decline in performance over the past two decades due to delays in conducting mandatory Turn Around Maintenance (TAM).

The last time a TAM was conducted on the Refinery was 21 years ago (2000)! Isn’t it time the nation’s refineries are brought back to their optimal capacities?

Some critics have argued that it is more economical to build a new refinery than, “just waste $1.5 billion” to rehabilitate the PHRC, which holds 210,000bpd out of Nigeria’s 445,000bpd refining capacity.

On the contrary, a cursory look at brand new refineries built across the world reveals that building a refinery of similar capacity like PHRC is estimated at over $6 billion depending on a number of technical and non-technical factors.

For example, $10 billion was spent on building Aramco Oil Refinery (250,000-300,000 bpd) in Pakistan, $12 billion was spent on building Abrue Lima Project (230,000) in Brazil; while $27 billion was spent on building Pengerang Refinery and Petrochemical Integrated Development, RAPID (300,000 b/d + 3 mtpa) naptha steam cracker) in Indonesia. In Nigeria, $19 billion has been spent so far on Dangote Refinery (650,000bpd) prior to commissioning and start-up of the plant.

It is interesting to note that despite the abundance of hydrocarbon resources, Nigeria is, sadly, the only oil producer in the world that does not refine petroleum products. Instead, the country relies heavily on importation for most of its petrol needs locally. This is not a good record to be proud of. Armchair critics also come up with a shallow argument that it is better to sell off these refineries since they can no longer meet up the nation’s refining needs. Which country sells off its strategic national assets, such as the refineries, to the highest bidder? Armchair critics usually think a mere mention of TAM means another round of business as usual, where resources are drained with nothing to show for it at the end of the day.

While some of these arguments are genuine, it is instructive to note that this TAM is different because it will enable the replacement of aging / obsolete equipment as well as ensure that refinery operates at a minimum of 90% capacity utilization.

On the flipside, Nigerians will benefit immensely as PMS and other petroleum products will be become available locally, jobs will be created from the value chain of activities and the current strain on Forex for importation of products will reduce.

In addition, interested parties who benefited from the age-long importation largesse and have fleeced the nation dry will potentially be out of business.

This is the same for critics of the President Muhammadu Buhari administration. These detractors probably forgot that this was an administration that, from its inception, made clear its intention to bring back the refineries to their optimal capacities. The Buhari Presidency also threw its full weight and support behind the NNPC to execute the project.

It is worthy to note that for African Export-Import Bank (Afreximbank), which is the reliable lender for the project to have raised $1billion towards the initiative, it goes to show that the multilateral institution understands how crucial the project is. In the same vein, the federal government will raise the sum of $550 million. Clearly, a credible and capable lender like Afreximbank would never agree to put such huge amount of money where there will be no value. Also, the right governance structures have been instituted around the project implementation to ensure success. Similarly, Tecnimont SpA, the Original Refinery Builder (ORB) which is also the Engineering, Procurement, Construction, Installation and Commissioning (EPCIC) Contractor, is globally reputable and capable, with requisite experience of similar jobs across the globe.

There are still a number of other genuine reasons why the current refineries rehabilitation project is different.

Firstly, Project implementation governance structure includes key independent external stakeholders: Ministry of Finance, NEITI, ICRC, the two labour unions in the oil and gas industry - PENGASSAN and NUPENG. Secondly, it involves significant replacement of key equipment within the refinery’s major units and components.

Thirdly, it is funded through part-loan and part-government, with the financiers actively monitoring the execution of the project. KBR and NETCO are also acting as NNPC Engineers who will be supervising the EPC contract to ensure the project is delivered in line on schedule, within budget and at the right quality.

Sylva has urged Nigerians who are opposed to the project to hold him accountable for every dollar that will be spent on rehabilitating the refinery.

“They (Nigerians) can hold me accountable and hold this government accountable for every dollar, every cent on this refinery and ensure that we deliver a refinery that works,” he said.

Sylva has also explained that the rehabilitation will take 18 months and the first phase will get the refinery to 90 percent operational capacity, stressing that President Muhammadu Buhari was bent on leaving a legacy including making sure that the refineries are working.

“It is not going to be all debts, we are not going to borrow all the monies that are going into the rehabilitation”.

Furthermore, the minister explained that the project would be in three phases, adding that the first phase was going to be within the tenure of this administration.

“You should hold us. It is 18 months and we are going to take the refinery to 90 percent of its main capacity and that is what you should hold us to,” he posited.

While defending the project, the former governor of Bayelsa state noted that the federal government also plans to rehabilitate other refineries in the country, explaining that the move is not a waste of funds as believed by many Nigerians.

According to him, the refinery will benefit Nigerians and be commercially-viable to return profits for the government and satisfy the domestic needs of the country, especially in addition to the Dangote refinery.

“This rehabilitation will bring a lot of gains for Nigerians. First, we are gaining from savings in the foreign exchange end, savings from importation of premium motor spirit (PMS); and we will gain from the operations of the refineries itself,” he noted.

The minister also debunked insinuations that the rehabilitation could have taken less than N500 million, saying that the rehabilitation of the refinery was being handled by professionals.

It is also expected to result to job creation across the value chain (crude supply, operating and maintaining the refinery, product supply etc) including several third party contractors that will supply outsourced services or goods.

The refined products are also feedstock for small scale local manufacturing. The most significant and visible benefit is energy security of the country.

Imagine if COVID 19 lock down became global and we couldn’t import, it would have been a disaster as there was no capacity to refine crude in country and as such, there would have been no products.

A group like the Ijaw Youths Council (IYC) Worldwide, which understands the importance of this laudable move has described it as a signal that the federal government has woken up from its slumber.

The IYC President, Peter Igbifa, said though

reviving and optimising the refinery was long overdue, it was better late than never.

Igbifa, who described the move as a welcome development said it would create employment for the teeming jobless youths in the Niger Delta region and increase the country’s refining capacity.

The IYC boss also expressed optimism that the project when completed would reduce youth restiveness and criminality in the region.

He advised the federal government not to play politics with the project.

Igbifa called on the government to swing into action immediately by releasing money immediately to back up its approval.

Igbifa said: “This should not end in funds approval, money should be released as and when due. We don’t want to hear the usual excuse that the project is being delayed for lack of funds.

We listened carefully as the Minister of State for Petroleum, Chief Timipre Sylva, reeled out the timeline for the project and we are expecting the rehabilitation to follow the timeline.

“As a council, which fights for the interest of Ijaw youths and other youths in the Niger Delta, we will be constituting an action committee to work closely with the ministry of petroleum and the contractors that will be in charge of the rehabilitation project. We will monitor the execution of this project from the beginning to the end and if we notice any foul play, we will surely raise the alarm.”

Igbifa said it smacked of unseriousness and irresponsibility for an oil-producing country like Nigeria to be selling crude oil and importing refined products, adding that the move to rehabilitate the Port Harcourt refinery would gradually bring an end to the economic disaster.

On his part, an Environmental Justice Activist, Mr Fyneface Dumnamene Fyneface, welcomed the planned rehabilitation of the Port Harcourt refinery, saying it will create jobs and also curb incessant fuel hike when completed.

Fyneface also urged the government to consider funding artisanal refiners to own modular refineries, in order to contribute to energy sufficiency in the country.

“The approval, coming at a time that Nigerians are grumbling over incessant hike in fuel price and energy crisis would go a long way to address these issues when completed.

During the rehabilitation, jobs will be created for youths and experts across board,” he added.

Therefore, the federal government must be given all the support to see that the Port Harcourt Refinery is revived and becomes operational once more in order to save the government its scarce forex revenue as well as create the much-needed jobs. t"EFKPI XSJUFT GSPN -PLPKB ,PHJ 4UBUF

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WEDNESDAY MARCH 24, 2021 •T H I S D AY

WEDNESDAY MARCH 24, 2021 • T H I S D AY

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IMAGES

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Photo Editor ÌÓÙÎßØ ÔËÖË Email ËÌÓÙÎßØ˛ËÔËÖË̶ÞÒÓÝÎËãÖÓàÏ˛ÍÙ×

L-R: Governor of Ondo State, Rotimi Akeredolu; President, Christ Apostolic Church (CAC) World Wide, Pastor Samuel Oladele; Governor of Oyo State, Seyi Makinde and Representative of Vice President, Pastor Seyi Malomo, during the inauguration and duty commencement of Pastor Oladele as the 8th President of the Church world wide in Ibadan...recently

Kwara State Governor AbdulRahman AbdulRazaq (right) during a condolence visit to former Minister of State for Health Hajia Amina Ndalolo over the recent death of her husband Alhaji Usman Ndalolo, in Abuja,...recently

L-R: Research and Development Manager, Enugu Chamber of Commerce, Industries, Mines and Agriculture (ECCIMA), Mr Uchechukwu Mba; Marketing Manager, Fedan Investment Limited (FIL), Mr Nduka Onyeka; Vice President, Trade Fair, ECCIMA, Chief Nonye Osakwe and FIL Branch Manager Onitsha, Mr Ikeagwuonu Echezona during FIL special day at the ongoing 32nd ECCIMA International Trade Fair in Enugu...recently

L-R: Commissioner for the Environment and Water Resources, Mr. Tunji Bello; President, Dangote Group, Alhaji Aliko Dangote; Lagos State Governor, Mr. Babajide Sanwo-Olu; Group Executive Director, Strategy, Capital Projects and Portfolio Development, Dangote Industry Ltd., Mr. Devakumar Edwin and Chief Operations Officer, Dangote Oil Refinery, Mr. Giusappe Surace, during the Governor’s working visit to Dangote Refinery at the Lekki Free Trade Zone, Ibeju-Lekki...recently

L-R: Consultant Neurosurgeon, Federal teaching Hospital, ido-Ekiti, Dr Abiodun Okunola; Consultant Orthopaedic Surgeon and HOD Accident and Emergency, Dr Paul Abiola; Ekiti State Governor, Dr Kayode Fayemi; and CMD FMC, Prof Kunle Ajayi; during the visit of the Governor to the victim of the Ekiti East House of Assembly election violence at the FMC Ido- Ekiti ...recently

L-R: National President, Deaf Women Association of Nigeria (DWAN), Adedoyin Beyioku-Alase; Chairperson, DWAN, Hellen Beyioku-Alase; Director Humanitarian and Social Affairs, ECOWAS Commission, Dr Sintiki Ugbe and National President of Joint National Association of Persons With Disabilities (JONAPWD), Ekaete Umoh, during a joint ECOWAS/JONAPWD press conference, as part of the activities to commemorate the International Day of Persons with Disabilities in Abuja...recently

L-R: Governor Abubakar Badaru of Jigawa State ; Governor Atiku Bagudu of Kebbi State ; President Muhammadu Buhari and Governor Mai Mala Buni of Yobe State during the visit of the Governors to the Presidential Villa; Abuja...recently PHOTO: GODWIN OMOIGUI

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EDUCATION Endless Hijab Impasse, an Impediment to Academic Excellence in Kwara There is no doubt that the current impasse in Kwara State, over the order of the state government to all public schools, including those founded by the Christian mission in the state, to allow female Muslim students wear hijab to school, has heightened tension among Christian and Muslim stakeholders. Hammed Shittu reports

Christians protesting at ECWA Secondary School, Ilorin...recently

K

wara State is popularly referred to as a ‘State of Harmony’, but the hijab controversy, seems to have inhibit the peaceful co-existence among the people which may also affect academic performance of the students who are currently at home due to the decision of the state government to close 10 schools founded by the Christian missions.

The development, according to THISDAY investigation, may also lead to academic failure among the students in the upcoming National Examination Council (NECO) and West African Examination Council (WAEC) examinations, due to the disruptions in academic activities of the affected schools.

The affected schools are Cherubim and Seraphim College, Sabo Oke; St. Anthony College, Offa Road; ECWA School, Oja Iya; Surulere Baptist Secondary School; and Bishop Smith Secondary School, Agba Dam. Others are; CAC Secondary School, Asa Dam; St. Barnabas Secondary School, Sabo Oke; St. John School, Maraba; St. Williams Secondary School, Taiwo Isale, and St. James Secondary School Maraba, all in Ilorin, the state capital.

The closure of the affected schools by the government was based on the protest embarked upon by the Muslim parents and guardians of the female students across Ilorin, the state capital, over the refusal to allow their children who wore hijab into the schools premises, by their principals.

The schools were billed to reopen on March 8, but following the tension that trailed the approval of the use of Hijab by female Muslim students, the state government directed the schools to remain shut until further notice, citing safety reasons.

It could be recalled that, the call to allow female students to wear hijab in Christian mission founded schools started few years ago as Muslim stakeholders in Ilorin filed the issue in court.

The group which first filed the court case against the Christian Association of Nigeria (CAN) in the state demanded that the association should compel the authorities of the schools founded by them to allow Muslim female students in the Christian schools to use hijab.

The group argued that since the state government had taken over the schools, the former missionary owners no longer had control over the grant-aided schools in the state.

The Muslim stakeholders also said allowing the female Muslim students to wear hijab will be in conformity with the judgment of the Kwara State High Court of 2016 and that of the Court of Appeal of 2019.

While government ownership of the schools are not in doubt since it pays, and run the Christian/missionary schools, the court affirmation of these positions so far, could be said to have completely remove the control of the schools from the church and missionary.

Although, the issue came up during the past administration’s of former Governor Bukola Saraki and Alhaji Abdulfatah Ahmed, but this was managed without any tension during the period.

The two governors then were able to use tactics between the two religions to the extent that the government didn’t make any pronouncement and hijab was not used in any Christian schools.

However, the present administration led by Governor AbdulRahman AbdulRazaq, allegedly acceded to the demand of the Muslims stakeholders on the need to implement the wearing of hijab in the affected schools based on the court ruling that affirmed it, which has renewed old wounds in the state.

This development assumed a dangerous twist when the state governent directed the affected schools to reopen. The Muslim female students who wore hijab to school, were turned back because the Christian mission insisted that they would not allow the use of hijab in their schools. This develeopment, however, prompted the Muslim community in the state to kick against it.

The Spokesperson of the group, Alhaji Isiaq Abdulkareem, during a press conference in Ilorin recently, said they were surprised that some former owners of schools in Ilorin last Monday and Tuesday forcefully removed hijab from heads of female Muslim students at the entrance gates of the affected schools.

He listed the schools where there were infringements on the freedom of religion of female Muslim students to include; St. Anthony, St. James, Bishop Smith, and ECWA secondary schools, all in Ilorin, among others.

Abdulkareem said that allowing Muslim female students to wear hijab, will be in conformity with the judgment of the Kwara state High Court of 2016 and that of the Court of Appeal of 2019.

He asked the state government to direct schools to allow Muslim female students to practice Islam in all ramifications, by observing prayers and use the hijab.

The spokesperson said they promptly reported the infringement on rights of the concerned Muslim students to the appropriate quarters.

He lamented that at a peace meeting held in the office of Secretary to the State Government on Tuesday, the Christian mission insisted that they were not concerned about the judgements of the Kwara state High Court and the Appeal Court.

“This is the time the government and the people of the state need peace more than ever before. It should be seen as calling for trouble as failure to act may lead to people enforcing their rights in the best possible way.

“As a stakeholder in this government, we appeal to Governor AbdulRahman AbdulRazaq to take bold and urgent step in addressing this issues to avoid possible outbreak of crisis in the state”, he stressed.

Against the backdrop of this press conference by the Muslim stakeholders in the state, the state government convened a peace meeting with the two religious bodies.

The peace meeting according to the government is to allow them to state their positions and offering opinions on how to resolve the differences on the hijaab question in grant-aided schools.

The meeting was presided over by Deputy Governor Kayode Alabi who appealed to all the leaders to respect their differences, live in peace and love, and join hands to raise a generation of children who will see one another as compatriots.

At the meeting were representatives of the Muslim and Christian communities, political and thoughts leaders in Kwara State.

Muslim female students on hijab denied entrance into Baptist Secondary School, Surulere, Ilorin...recently According to THISDAY investigation, the meeting resolved to evolve a committee that will specifically tackle the Hijab question.

The members of the committee constituted included; the Deputy Governor (Chairman), two thoughts leaders/statesmen from the two sides; three religious leaders from the two sides; Senator Suleiman Ajadi; Prince Sunday Fagbemi; Permanent Secretary of the Ministry of Justice; Permanent Secretary of the Ministry of Education; Special Assistants to the Governor on Religion (Islam and Christianity); and the Chief Press Secretary to the Governor.

In a statement signed the Deputy Governor after the meeting, he said, “there is a need for every side to keep the peace and constantly caution members of their communities to avoid any action or comments that may disturb public peace.”

But, as the peace committee was holding its meeting in Ilorin, the Muslim female students in the affected schools recently staged a peaceful protest over their denial to wear hijab to schools .

Sensing that this might snowball into a religious crisis in the state, the state government in a statement ordered the closure of the schools in Ilorin where the crisis had emanated.

In a statement issued by the Permanent Secretary, State Ministry of Education and Human Capital Development, Mrs. Mary Kemi Adeosun said the closure comes as a government committee comprising representatives of the Muslim and Christian communities have met to iron out the differences between the two communities.

“Further communication will be issued to inform members of the public on the development. Government calls for calm and urges parents and religious leaders to avoid actions or comments that may further split the two communities”.

Moreover, the peace meeting convened by the state government with the religious leaders to resolve the controversy surrounding the wearing of Hijab by the female students in some secondary schools in the state ended in a deadlock.

THISDAY investigations revealed that, the two religious bodies stuck to their demands at the meeting.

Sources close to the meeting who spoke on condition of anonymity said the Muslims leaders insisted that the female students would continue to wear their Hijab to schools in line with the Court of Appeal ruling on the issue.

Sources also revealed that the Christian leaders kicked against it saying that they will not allow the wearing of hijab in the missionary schools except head cap.

It was learnt that, the Christian leaders were said to have told Muslims leaders at the meeting that, “if the Muslim females children cannot abide with their rules, they may take female children to the Muslims schools in the state and be putting on their hijab.”

Sources close to the meeting added that, the peace meeting did not yield positive results as there was no communique on the peace talks.

The development it was gathered didn’t go down well with the state government on the comments from two religious bodies in the state and the government may issue proclamation on the issue this week.

However, the Christian mission in the state

has chosen the option of praying to God so as to have peaceful solutions to the hijab controversy.

The association also demanded the return of their schools and no use of hijab as they do not want the schools to lose the identity of being built and owned by churches.

The well attended prayer session by members from various units and denominations was held on February 21, 2021 at St. Barnabas Anglican Cathedral, Sabo-Oke, Ilorin.

Reverend Fr. Ralph Ajewole, Chairman, CAN Ecumenism who briefed the congregation, said, it was for the faithful to raise their voices to the Lord in unison, citing the example of how the Israelites were able to overcome in battle.

He reminded Christians that “God is with us in facing the current challenges as he has always been,” charging them never to be tired or worried.

After a bible lesson taken by Evangelist Mary Okoye, Rev. S. O. James of Ebenezer Baptist Church, Sabo-Oke, Ilorin, gave the exhortation.

He admonished the people to believe in God who never forsake his own people.

“We have reached a level in Kwara in which Christians are just living to survive. Why? What happened last week Thursday and Friday in respect of attempted enforcement and resistance of hijab in Christian-built schools will make anyone to feel sorry for the state,” he remarked.

He reminded all that, “God is with us. We have Him as Israelites have Him. He has promised to be our God and He has superior power.”

He enjoined Christians to go in might as a united body of Christ.

The gathering also prayed for a secured society and for Governor Abdulrahman Abdulrazaq to heed CAN’s call and make do his promise of answering their requests.

The association’s legal Adviser, Mr. Shina Ibiyemi who elucidated on the legal angle of the controversy said, there was never any time the hijab issue was a subject of contention in the law court in the state.

He therefore implored the people to harm themselves with fact and safeguard against misconception.

On March 18, the state government had ordered the principals, teachers and other staffs of the affected schools to resume duties on the second day which was March 19, but the Christians in the state locked the gates of the affected schools , thereby denying the staff from gaining entrance.

The ugly development, however, prompted the state government to deploy a task force to implement its directive to all schools in the state to reopen and all teachers of the affeted schools to report to their respective schools.

The Press Secretary in the state Ministry of Education and Human Capital Development Yakub Ali-Agan, in a press statement made available to THISDAY said all the 10 schools involved in the hijab controversy had been fully opened, hours after the state government directed all the principals and teachers in the affected schools to resume for academic activities.

According to the statement, “The schools were opened by government taskforce which moved round the metropolis to ensure that the directive is followed and that teachers and students are protected and allowed to begin academic activities.”

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T H I S D AY ˾ MARCH 24, 2021

EDUCATION

Appointing Ebiti as Summit Varsity New Pro-Chancellor Armed with its mission of establishing a citadel of learning that produces strong minds that are sound in academics, character, and the fear of God, the Ansar-Ud-Deen Society of Nigeria, recently, appointed the Chairman lBEJI Foundation, Alhaji Rafiu Adisa Ebiti as it’s Pro-Chancellor/Chairman Governing Council of Summit University, Offa, Kwara State. Sunday Ehigiator reports

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embers of the academia and Islamic clerics under the umbrella body of Ansar-Ud-Deen Society of Nigeria associated with the faith-based Summit University, Kwara State, recently, converged on Ansar-Ud-Deen Central Mosque, Surulere, Lagos, to chat a new path for the university which recently produced its first sets of graduates.

The programme was the installation of the Chairman, lBEJI Foundation, Alhaji Rafiu Adisa Ebiti, as Pro-Chancellor, Summit University, Offa, Kwara State.

Known for his strong principles of discipline, dedication, and accountability, Alhaji Ebiti has left his footprint in management,

and humanitarianism, with countless indigent students benefiting from several of his scholarship initiatives under his Ibeji foundation in various Nigerian universities.

In his remarks while announcing Ebiti’s appointment, the President, Ansar-Ud-Deen Society of Nigeria, Dr. abdul-Rafiu Sanni, disclosed that Ebiti’s appointment as the institution’s Pro-Chancellor was based on merit.

“Ebiti’s nomination was based on merit and in line with the provisions of the Summit University regarding the qualifications and qualities of personalities to be appointed into different organs of the university.”

He said Ebiti and his team definitely, have a daunting assignment before them to nurture the new university to

School Feeding Programme: Lagos SUBEB Empowers Food Vendors Funmi Ogundare The Lagos State Universal Basic Education Board (SUBEB),recently held a five day training for food handlers drawn from the Local Government Education Authority(LGEA) across the state, on Covid-19 safety protocols in public primary schools.

The programme themed, ‘Quality Nutrition and Healthy Lifestyle during Covid-19 Pandemic’, was aimed at strengthening their capacity to effectively their duties hygienically and efficiently.

It will ensure that they serve the pupils food by mid-day everyday of the week.

The Executive Chairman of the board, Wahab Alawiye-King who declared the programme opened, said the theme was apt considering the present reality, adding that the application of the principles of environmental sanitation, personal hygiene and established food safety practices, cannot be overemphasised.

He emphasised on the national home grown school feeding programme, a social intervention initiative of the federal government to promote social protection whereby pupils in primary one to three in public primary schools are given one nutritious meal per day.

He commended the federal government for its commitment towards the initiative in Lagos saying, “ this has continued to increase enrolment and retention rates of pupils in public books and also helped to improve their nutrition and healthy status.

Alawiye-King recalled that the feeding programme had commenced in the state last year, but it was abruptly halted due to the outbreak of Covid-19 pandemic and the closure of schools.

“As we prepare to resume the continuation of free mid-day meals as directed by the federal

government, it is crucial that we adequately sensitise and train all our stakeholders including food vendors and food handlers on the required hygiene practices for a safe school feeding exercise, “ the chairman stressed.

He said the board was in talk with the ministry of humanitarian affairs and Disaster management to ensure that all the vendors go round all the schools in the state.

“Let us remember that the war against Covid-19 is not yet over, we must therefore, continue to take adequate preventive measures. Statistics shows that lack of hand washing accounts accounts for 33 per cent of all related food poisoning cases. It is therefore important that handlers in the school maintain good hygiene practices, “Alawiye-King said.

A Permanent Board member in charge of Special Project, Bayo Adefuye stressed the need for them to imbibe the Coid19 protocols in the discharge of their duties, adding that environmental officers will be going round to inspect where they cook.

He appealed to them to treat the pupils as they would their children.

“You are our critical stakeholders because you are the ones who will serve our children food in school, so you must not joke with it.

You must take it very seriously by following all the Covid-19 protocols, “ he said.

A community leader in charge of distribution of food in Ebenezer Primary School, Egbeda, Chief Olaide Anifowose appealed to the board to ensure that the prices of food that will be supplied to schools are subsidised and the foods are of the right quality.

The event witnessed the distribution of identification cards to the vendors.

maturity, adding that global prominence and acceptance is a herculean task which requires experience, sacrifice, dedication, focus, integrity, serious mindedness and total cooperation of all members.

“I have no doubt whatsoever that the chairman and his team have what it takes to achieve the mission and vision of the university. I wish to assure you of the total cooperation and understanding of the office of the president and the NGPC/ national executive committee which I am privileged to lead,” he said.

In his acceptance speech, the new Pro-Chancellor promised to work in line with the ideals for which the university was set up.

He noted that the council would work seamlessly with other appointed members of it’s Board of Trustee (BoT) headed by Lagos State former Commissioner for Finance, Dr. Rotimi Oyekan and promised to create for the institution, a legacy the world would be proud of.

In an interview with THISDAY, Ebiti thanked the Ansar-Ud-Deen Society of Nigeria, and acknowledged the challenge ahead of him

saying that they are not insurmountable.

According to him, “I am grateful to God for the opportunity, and I pledge that there will be significant changes. This is a university with many faculties and so many disciplines; we will look at what is on ground, see how we can improve on it and create new things.

“Faith-based universities have their models, and they have their own challenges too. Sometimes, some of these models may not really be what the society at large wants. But then, those models are based on the perceptions, the teachings of the Quran, and the Sunnah of the holy Prophet. It shouldn’t be too difficult to get some of these things done once you can find consensus and good leadership.

“The challenge always is the quality of leadership, and I can tell you that I am very confident in the leadership of the institution and the BoT. I know the chairman of the BoT very well, I have worked with him before now, and I believe in his capacity and that of the team, and I don’t anticipate any challenge working with him.”

Speaking on the appointment of Ebiti as the university’s Pro-Chancellor, the newly appointed Chairman, Board of Trustee, Rotimi Oyekan, also expressed confidence in his capacity to pilot the affairs of the school.

“The pro-chancellor is a distinguished businessman, and a committed member of the society. I have no doubts that he will be able to fulfill his tasks. The interface with him is almost seamless and it is very important. So, we will be working with them to ensure that they execute to the later, the vision and mission of the society,” he stressed.

On his decision to make scholarships available for a number of indigent students in the school, Oyekan noted that the society in itself “has a record of sponsoring scholarships through primary, secondary and higher institutions in different parts of Nigeria.

“It is in that spirit that the idea of Summit University was incubated, and prosecuted to the glory of the Almighty Allah. And we believe that the quest to improve access to educa-

tion for the Muslim child is very important in present day Nigeria.

“It makes this a big task, but we believe that we will be able to make an impact to the glory of God. Significantly, we must mention that there is no discrimination in Ansar-Ud-Deen schools.

It is a school that trains Christians and any other religion you may belong to.

The culture is to provide educational opportunity, and bring out the best in students that we have the opportunity in training,” Oyekan said.

The University Registrar, Mustapha Kadiri expressed optimism that it is moving to greater heights in all ramifications.

“Even before his appointment as the Chairman of Council of the University, Ebiti has given scholarships to about 25 students, and followed this up by sending us experts from his company to provide mentorship to these students. So, for somebody with that kind of background and passion for education, I have no doubt that he will be able to move the university to greater heights,” he said.

L-R: National Missioner, Ansar-Ud-Deen Society, Sheikh Abdulrahman Ahmad; President, Ansar-Ud-Deen Society, Dr. Abdul-Rafiu Ademola Sanni; newly appointed Pro-Chancellor/Chairman Governing Council, Summit University, Offa, Kwara State, Alhaji Rafiu Adisa Ebiti and Chairman,Board of Trustees, Dr. Rotimi Oyekan, at the inauguration of Board of Trustees(BoT) of Summit University held in Lagos...recently PHOTO: ETOP UKUTT

Meadow Hall Foundation Holds First Virtual Education Convention Meadow Hall Foundation is set to host the first virtual edition of its Education Convention on May 22, 2021, themed, ‘Rethinking Education: Adapt, Adjust and Achieve’.

The education convention will provide an opportunity for all educational stakeholders school teachers, school heads/administrators, school owners/school leaders, parents, government officials and community leaders) to gain fresh perspectives on

pertinent educational issues in these times from their interactions with teachers and educational experts.

As Meadow Hall Foundation continues to advocate quality education in Nigeria, some of the topics to be discussed at the convention include ‘Getting it Right in Our Schools’, targeted at policy makers and government officials; ‘School Financial Management’ targeted at school owners; ‘Teacher, Teaching and the Future of

Work’, targeted at teachers; and ‘Integrating Technology to Stimulate Creativity’.

According to the foundation, the convention is another example of the work Meadow Hall Group is doing to continue to raise standards in education.

“We are steadfast in our belief that teachers must get the best training and knowledge of 21st century methodologies in order to help children reach their full potential.

Meadow Hall Group seeks to provide through her subsidiaries, opportunities to raise excellent, Godly and well-rounded children who will become lifelong learners.

Meadow Hall is committed to excellence and is passionate about the holistic development of children.”

The foundation noted that quality education is key to national development, as the impact of quality education on students’ performance and nation building is far reaching.

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T H I S D AY ˾ MARCH 24, 2021

EDUCATION

‘Synergy Among Govt, Private Sector on Education will Reduce Out-of-School Children’ Ms. Foyinsola Akinjayeju is the Managing Director of Bridge Nigeria.

She explained to some journalists, including Funmi Ogundare, why there has to be synergy among government and other stakeholders in the private sector so that interventions around education can be taken seriously to reduce the incidence of out-of school children in the country, among other issues. Excerpts:

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ince you came on board, how have you being able to enhance what you met on ground in Bridge Academies?

Coming here for me was a joy and responsibility.

Hearing about the great work that Bridge does, was just an opportunity I couldn’t allow to pass by, because we know that we are connecting thousands of pupils to be able to enhance their potentials. My plan is to expand the reach and ensure that we are getting more pupils to enjoy the benefit of this life changing education. The name Bridge is very instructive.

Bridging the gap between where they are , the opportunities available, to the tremendous opportunities that they can hold if they have access to education.

Expanding the reach is my primary objective. How do we ensure the reach? It is about improving upon the great work we are doing about our operations, we have about 46 schools in Lagos and Osun which is a huge thing. It shows that all the nuts and bolts are in place for us to deliver on our promise to our pupils, teachers, parents and the communities that we serve, which is top on my agenda.

Enhancing the visibility of bridge is also an area that is my focus, so that people can connect with us and we can reach more pupils.

In terms of reach, do you have any plans to expand to other states aside just Lagos and Osun?

We are taking it one step at a time. We are ensuring that we consolidate and make it work and our parents see us as a trusted partner in the education of their children. There are learning outcomes for our pupils and our teachers are empowered to continue to teach. By all means, we will consider those expansions as the need arises.

What has been the impact of Covid-19 on your operations in terms of the girl child and how were you able to overcome it using technology?

The lockdown measures impacted every single person, but we were always responsive and we responded quickly to address that. So we had contents that were preprepared and captured and sent to the pupils through

their parent’s Whatsapp platform and it was accessible to every child within the community. These are things they could use and did used, to continue to learn even while at home. It was accessible even within the north as long as you are connected to data, then it was accessible. This was available to everyone.

How do you measure your performance before, during and expectations post-Covid?

One of the things that we do, is that we access fluency which is on reading and comprehension which are the most key things for any child to understand what has happened to them during Covid-19.

Our benchmark for assessing fluency which is an international benchmark set, is that primary one pupils should be able to read 25 correct words per minute, primary two pupils should be able to read 50 correct words per minute, primary three should be able to read 75 correct words per minute, primary four is 95 correct words per minute, primary five is 115 correct words per minute, while primary 6 is 125 words per minute. What we have seen so far in Bridge Nigeria, is that our pupils are beating the average scores noted in the fluency benchmark shared in this thread. What we are now doing is to determine the percentage of how pupils meet or exceed. What helped the pupils was that during Covid, we had various platforms for our parents to access continuous learning like the Learning guides, self-study activity packs and digital storybooks.

The websites also has the activity worksheet which we downloaded and sent to their WhatsApp platforms for them to access. We also have the WhatsApp quizzes so they could continue to test their children.

How would you assess the impact of technology on the pupils?

Bridge uses technology to enable accountability and improve the learning experience of pupils.

With technology, we can track pupil and teacher performance and provide support when necessary, we know when teachers are in classrooms and when lessons are delivering results. Our pupils are also provided with electronic reading devices which are

Akinjayeju pre-loaded with hundreds of story books to develop their minds, and improve their literacy skills. During the Covid-19 pandemic, we developed the @Home learning programme to ensure that children continue to learn and are on the path to success. Parents had access to the learning resources on their mobile devices. Parents are able to use the mobile interactive quizzes to test their children at home, and it keeps them on their toes as regards what they should learn. .

Key to your success will be parents buy in and also private sector participation, what’s your plan regarding that?

Parental involvement and community engagement is fundamental for us at Bridge Nigeria. A key part of what we do is to engage our stakeholders, of which our communities and parents top on the list. We use our academy managers to reach our parents. We are constantly having conversations towards ensuring learning outcomes for the pupils, feeling their pulses and we carry out different surveys asking parents and community leaders about what they feel about what we are doing and areas for improvement so that many more pupils can benefit from the life changing education at Bridge.This is ongoing as engagement is continuous. On the private sector participation, it will interest you to know that we have a few partners

who are supporting pupils through scholarships in our schools and that is because they see the great work we are doing. There is equity of learning in our schools and more importantly, the performance of our pupils averagely out performs their peers in other schools. There are independent studies to show for it.

Considering the growing out-of -school children, what can Nigeria do?

There has to be synergy among the government, private sector and civil society, to lend a voice to the fact that education has a great impact on our future. If our children are not educated, you can imagine the state of our future. So it is about collaboration across the different parties. People need to be aware of the benefits of education and the dangers of otherwise.

People need to support where need be, so that the work can be done. More importantly, we need to track the statistics periodically and there are certain places where interventions can be prioritised. Security is a huge part of that, so government must play a huge part in the security situation so that interventions around education can be taken seriously.

Learning in schools is very important, the pupils who are in school need to get the best quality possible and that is where Bridge Academy takes pride in.

KEHINDE OMORU www.kayomoru.com

After School Activities or Education?

InourAfricansocietytoday,childrenareliterallyuptotheirneckswiththe learningactivitiesinschoolsandlessons.Itmaybewisertoenrolchildren forafter-schoolextra-curricularactivities.Afterschoolprogramsarenot verypopularindevelopingcountries.

Nonetheless,thereisarealneedforextra-curricularactivities.

The unavailability of parental supervision is the leading reason for the popularityofafter-schoolprogramsindevelopednations.

Itisseenthatmanychildrencouldspendabout20-25hoursaweekiftheyare unsupervisedandaloneathome.Asthesayinggoes,‘anidlemindisadevil’s workshop’.Childrenwhoareleftalonewithtoomuchfreetimeinvariably fallintothewrongcompany.Drugabuse,alcohol,tobaccoandcrimecome knockingattheirparentsdoorsoonerratherthanlater.Therefore,parents enrolchildreninvariousafter-schoolprogramstokeepthemoccupiedin a productive manner.This way, the kids are free to enjoy themselves in a supervisedactivity.

Crimeisconsideredtobeatitspeakduringtheafter-schoolhours,particularly between3to4p.m.Duringsuchatime,childrenneedprotection.Getting thechildrentogetherunderoneroofandencouragingthemtoparticipate in a group activity is protection enough. It diverts the children from ennui too.Obesityisamatterofgrowingconcerninmanydevelopedcountries.

Itisreportedthatmorechildren’sBodyMassIndex(BMI)areskyrocketing. After school, many children relax on the sofa with packets of chips, cool drinks or chocolates while they watch television. Thirty per cent of the kids below the age of 19 are considered overweight, and about 15 per cent of these are obese. An after-school program ensures that children takewell-balancedmeals;thatchildrenshakesofftheirlethargyandkeep themselvesbusy.Theseclubshelpstoreducethechild’sfascinationforTV andcomputergames.

Furthermore,after-schoolactivitiespromotesocialawarenessanddevelop theindividual’ssenseofsocialresponsibility.Itisseenthatthesesortsof programs not only keep children out of trouble, but also help to produce responsible citizens. In this way, after-school clubs are valuable building blocks in a child’s personality.Times are changing and parents want their childrentoexcelinacademicsaswellasinotheractivities.Goodafter-school clubs would ensure this. Parents today should enrol their children in various programs and enable the development of the various facets of their individuality. Children who attend after-school clubs seem comfortable learningmanythings.Atthesametime,theygaintremendoussatisfaction frombeingwithotherchildren.After-schoolisnotbaby-sitting: After-school activities thrive only if it is backed by sufficient parental involvement. What would a soccer match be without parents cheering theirlittleheroesfromthesidelines?

Researchandchoose: Instead of convenience being the decisive factor, find out things that will interest your child. Once you select a program, get the fine print and find outwhatyouhavetocontribute.

Freetime: Manychildrenattendpianoclasses,followedbyballetandsqueezeinsome timeforplaydatesinbetweenjustbeforetheyrushhomeintimeforbed.

Thisrigoristoomuchforachild.So,goslow.

Whentoquit: Often, parents enroll their child in an activity to discover that he may not be the prodigy they thought he would be. This is the time to let go. Your childmaynotbecomethenextwonder-kid,but,lethimcultivateaninterest thatheenjoys.Remember,happinessandfulfillmentareallthatmatter.

Formillionsofparentsaroundtheworld,thedaydoesnotendwiththeschool bell.Therearestillpicturestobepainted,songstobesungandgamestobe played.Thisalladdsuptokeepingchildrenhappy,safeandoutoftrouble.

But,parentshavetosteerawayfromgoingoverboard.

Omoru is a freelance writer, education, health and social care advocate

Mulade Makes Case For Delta Schools Upgrade In Riverine Communities Sylvester Idowu in Warri An Ijaw leader, Sheriff Mulade, has appealed to Governor Ifeanyi Okowa and the Commissioner for Higher Education, Professor Patrick Muoboghare, to consider citing a higher institution in riverine communities of Delta State to enable them to access higher education without much hassles.

In a separate letter he forwarded to Senator Okowa, the Ijaw leader also urged him to transfer the School of Marine Technology, Burutu, from the

state’s Ministry of Transport to the Ministry of Higher Education, to enable the institution to function effectively and optimally.

Commending Senator Okowa for upgrading the College of Education, Agbor, the Delta State Polytechnic, Ozoro and the Delta State University, Asaba campuses to universities to ease the quest for university education, he said folks in the creeks of the state deserved similar gesture given the socio-economic hardships associated with the terrain, which he noted sustains the nation’s economy.

WEDNESDAY MARCH 24, 2021 • T H I S D AY

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38

T H I S D AY ˾ ͰͲ˜ ͰͮͰͯ

CITYSTRINGS

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Empowering Youths through Community Innovation Challenge The Mandela Washington Fellowship Alumni Association of Nigeria has backed three youth and community-driven projects with strong human capacity development, writes Yinka Olatunbosun

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n Lagos, the members of the Mandela Washington Fellowship Alumni Association of Nigeria (MWFAAN) recently made a decision to select finalists in the contest called “My Community Innovation Challenge.’’ The challenge targets members of the association who have project ideas that could build human capacity in leadership, skill acquisition and entrepreneurs.

My Community Innovation Challenge is a project under the ‘The Cross-Cohort Collaboration Initiative (CCCI)’ created by MWFAAN. The project which provides grants for lucky winners recognise the role of innovation in creating changes at community, state and national level.

In this pilot edition, a grant of N1.5m is awarded to two fellows in different cohorts who have agreed to work jointly to design innovative solutions for their community.

To be eligible for the Innovation Challenge, the contestants had to present projects in the areas of women empowerment, improving access to education; STEM; peace building; entrepreneurship development. In the end, three winners were selected. Ijeoma IdikaChima and Dr. Bright Chimezie Irem won the challenge with Ebonyi Youth Development Project. The first runners-up are Funmi Ilori and Olatunde Ajoke Omoware with the project titled “STEAM in the Library.’’

Whilst Nkem Okocha and Peter Ayeni jointly held the third place with the project titled, “She Sabi.’’

Austin Emeanua from the United States Consulate General, Lagos and Coordinator, Mandela Washington Fellowship applauded the projects, describing them as impactful and solution-oriented. He urged the winners to make good use of the opportunity while reiterating the commitment of the United States of America at supporting more capacity development and community-driven initiatives.

In her acceptance speech, Dr. Bright Chimezie Irem, the co-winner of the first prize revealed that the whole idea of the project is to ensure that education is not

L-R: The Incubator Reality Rep., Ms Thelma Osadedebay; winner, Community Innovation Challenge Award, Ijeoma Idika-Chima; and Mandela Washington Fellowship Coordinator, Austin Emeanua of the United States Cunsulate General, Lagos, Nigeria at the My Community Innovation Challenge Awards and Fellows Meet Up confined to the four walls of the classroom.

She explained that the Ebonyi Youth Development BootCamp is a leadership and entrepreneurship programme that will attract youth leaders in Ebonyi from different sectors such as Agriculture, Education, Women Empowerment and Energy.

Scheduled to run for three months, the project is designed to directly impact 40 youths and indirectly, 400 youths. To kick off, there would be one-week on-site training and two weeks of virtual training for all participants.

The aim is to bridge the gap between the urban and rural youth by providing access to accurate information, capacity building opportunities, career development programme

to start their ideas and scale their already existing ideas. The trainees in the programme would be linked with virtual mentors who are Mandela Washington Fellows. At the end of the programme, they would receive seed funding and internship. There are plans to replicate this programme in other states.

The 2nd Place co-winners also described their mobile library project ‘STEAM in the library’ as one that targets children. The project, designed to teach children between eight and 13 within a community, offers the basic skills in science, technology, engineering and art. The selected children will get both digital literacy and entrepreneurship skills which are yet to become indispensable

components in the schools’ curriculum. The entrepreneurial skills training is to expose them to SDG goals.

More than ever before, the pandemic has necessitated digital knowledge as many children relied on the use of their parents’ phones, laptops and other devices for online classes during the lockdown. While recounting her personal experience as a social worker in a community, Ajoke Omoware recalled a scenario in a community where only family member has a phone and the children in those families had to take turns in using the phone for their classes. Thus, the ‘steam in the library’ provides learning tools to foster 21st century skills.

Okocha, the co-winner of the 3rd prize in the challenge runs an organisation called Mama Moni Empowerment Foundation. For the past eight years, the organisation has been upscaling low-income women and girls from different communities all over Nigeria. Over 7000 women and girls have been beneficiaries of this programme. The organisation provides them with skills to make them become financially independent.

These skills include catering, local farming, financial literacy and digital skills. In collaboration with Union Bank, Okocha created a skill-acquisition centre in Amuwo Odofin for the women in the community.

The idea of creating a platform to reach women who were unable to come on-site during the lockdown became inevitable as the girls kept reaching out from different parts of the country requesting for training.

This gave birth to the SheSabi platform, inclusive of a Whatsapp group and an app where these young girls can learn all the skills that are taught on-site for free. The content created is localised and available in the three main Nigerian languages. With requests from other African countries like Ghana and Tanzania, Okocha and her cowinner, Ayeni hope that when the platform is launched, the outreach will be beyond Nigerian shores.

Dame Winnie Akpani: Ibusa Think-tank Celebrates a Corporate Titan Zik Zulu Okafor

I

t was Saturday, March 6, 2021. The Ibusa Think- Tank paused to celebrate the birthday of one of their own, a woman that is writing a new story in the corporate bloc . Her name is Dame Winnie Akpani, Managing Director and Chief Executive Officer of North-West Petroleum and Gas Company Limited, an indigenous oil and gas marketing company with a cut of distinctive character.

But they did not create a merry marquee to clink glasses and celebrate this elite of the technocracy. Not in a Covid colonised times.

The mode was virtual , spiritual in hue as it was laced with prayers and a tonal appreciation of her strides.

Now, the Ibusa Think-Tank is that brand of organisation that lives its name and spec. Made up of high profile technocrats, doyens of industry, professionals of national acclaim and intellective figures, the Think Tank wears a conservative garb, its voice deliberately tame but with an iron-cast mission to achieve its transformational goals in their homey town, Ibusa. So, they celebrate their members seemingly to thank them for the tough choice to be part of a race of sacrifice .

And they had to appreciate this daughter, sister and wife , for she is undoubtedly a woman in the eye of time. For them, her crystal vision, extraordinary sensitive insight and courageous carriage of both her personal and professional convictions that have resulted in her manifest progression within the organised private sector truly elevate her to a pedestal of generational inspiration.

And there is indeed no question that Dame Akpani is an exemplar, not only to the bucolic kids and youths back home to her native Igbuzor ( Ibuzor ) now anglicised as Ibusa, but to a nation in search of elpis, the mythological Greek personification of hope. For here was a child of middle class parents that graduated with a BSc degree in Mathematics

Dame Winnie Akpani from the University of Benin. She could have proceeded to do an MBA and seek a job in the mainstream banking sub-sector of the economy and rise quickly through the ladder. But endowed with a rare perceptive and interpretative imagination, she chose the long route and the tasking endurance that a job in accounting firm demands. So, she settled for a job as a Trainee Accountant at Oni Lasebikan and Co, now Ernst and Young. With an unshaking resolve to attain the zenith of her career, she moved to Arthur Anderson & Co known today as KPMG Professional Services. Here, she would qualify as a Chattered Accountant in 1990. Destined to run her own decreed corporate course, she still did not move to one robust bank or some big multi national having attained the position of an Audit Senior at her resignation in 1992 from KPMG. Instead, she migrated surprisingly to a relatively unknown Flame Petroleum and Gas Company Limited, a start-up oil marketing company, as a Financial Controller.

Today, with the benefit of hindsight, it is easy to see that she had her eyes on the ball ; a gripping perception of her tough and capricious destination and the

road map to the hub of its network. That would explain why she spent five intensive years here with meticulous attention to details, rising pronto to the status of an Executive Director. But just that was it. She'd had enough of working for organisations. Now a pack of experience, it was time to test her enterprise. And so, in 1998, North-West Petroleum and Gas Company Limited, an indigenous oil and gas trading company was born.

Twenty two years after, that company that took off with only N200,000 ; yes, N200, 000 capital base start-up, boasts of annual turnover in hundreds of millions of dollars. From a seemingly trifling local business of supplying diesel to homes, guest houses , banks and corporate organisations, North-West has taken a dizzying leap into a massive international oil trading and services company with investments in midstream and upstream sectors of the oil and gas industry. The company founded on luminous vision with grit and granite-cast integrity now operates two ultra-modern mega Petroleum Products Storage Terminals with combined capacity of 96.8 million litres certified and licensed by the Department of Petroleum Resources, DPR, and an ultra-modern berthing facility plus its distinctive 24 and 26 nozzle state-of-theart mega filling stations now spreading across the country.

Dame Akpani's incredible corporate statement is unequivocal, her strides, phenomenal. It is in concise terms, what many recognise as the reward for an intelligently analytical mind , a clear thinker and incisive corporate leader.

Now, many an observer of her enduring race to a rare pedestal of honour in the very slippery oil business have also alluded to some elements of luck besides hard work. Yes, this CEO with an adorable poise and amiable primness agrees. But like the christian that she is, she would rather call it God's grace, that unmerited favour, love shown to us by the Almighty God ; what Gresham Machen described as the centre and core

of the bible. Because she is a christian, she believes indeed she has immensely drawn from the treasury of grace and so strives persistently to humanise her corporate ventures. This mindset is reflected in the form of her organisation's colossal corporate social responsibility, CSR and her soulful relationship with people irrespective of their social standing. From her company's host communities to the nation at large, in education , health care, security and police affairs, from the market women through artisans to many on the back street and the fringe of life, Dame Winnie Akpani and her company are helping them to turn the corner, making timeless contributions to their operations, welfare and general reconstruction of their life and living for good.

Back in her home town , Ibusa, she continues to illuminate the passion of her compassion. Though a global player today, she is consistently reaching out to the town she calls home, to oil the wheel of their hopes and aspirations, sitting with them ; the ordinary people, traders, home-makers and small scale farmers, to understand their challenges and to lend a hand.

And her sacrifices in these humane enterprise have not gone unnoticed. Pope Benedict XVI, way back in 2009, awarded her The Pro Ecclesia et Pontifice medal or Cross of Honour, the highest award of the Catholic Church established by Pope Leo XIII in1888 for distinguished service to the church and humanity.

For those everyday people therefore , for her host communities, the church and many institutions across the nation and the global community, Dame Winnie Akpani is not just a corporate titan, she is a compassion worker and her company, North-west , an emblem of hope.

To the Dame and doyen of Nigeria's corporate arena therefore, the Ibusa Think-Tank says, " Happy Birthday " again. ...Zik Zulu Okafor is the MD/CEO Zulu Films Ltd.

WEDNESDAY MARCH 24, 2021 • T H I S D AY

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T H I S D AY ˾ ͰͲ˜ 2021

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BUSINESS/MONEYGUIDE

‘Banks, Telcos Collaboration Key in e-Fraud Fight’ Oluchi Chibuzor There is a need for banks and telecommunication companies (telcos) to strengthen their collaboration in the fight against e-fraud given the rise in the use of mobile phones for banking transactions, the Chairman, Association of Chief Audit Executives of Banks in Nigeria (ACAEBIN), Yinka Tiamiyu has said.

In a statement yesterday, he said ACAEBIN, which is also a sub-committee of the Bankers’ Committee of the Central Bank of Nigeria (CBN), wants telcos to step up their cooperation and collaboration with banks, especially in the area of appropriate Know-Your-Customer (KYC) documentation.

He stated that the association collaborated with all the stakehold-

ers in the industry in achieving all the transformations going on in the industry, especially in the payment systems.

“In fact, because of digitalisation, we must ensure that the Nigerian Communications Commission (NCC) and the telcos are on the same page with us in realising the payment systems of our dreams.

“The law enforcement agencies have also come to realise the role and support the banks are making in the fight against fraud as such, there is the need for improved cooperation and collaboration,” Tiamiyu said.

Speaking on the theme for this year’s Annual retreat/conference and general meeting of members of the association, ‘Exploiting Digitization and Disruption for Value Creation,’ billed to hold from March 25th to 27th, Tiamiyu said that it resonates well with the

current realities.

“So, this theme couldn’t have come at a better time and we are trying to look at how we can exploit the disruptions that is happening around the world to get better by creating value and making progress.

“The banking industry is creating a lot of digital products to keep the business running and if you look at the banks confirmed cases of fraud that resulted in the loss of about N2.1 billion, more than 90 per cent of those frauds were perpetrated through technologically driven channels.

“So as internal auditors, the knowledge of technology will enable us to identify gaps in our core banking applications, in the products and what we need to do to bridge the gap,” he said.

United Capital Restates Commitment to Clients’Needs Goddy Egene The Group Chief Executive Officer of United Capital Plc, Mr. Peter Ashade, has restated the company’s commitment to clients’ needs.

Speaking at the annual general meeting (AGM) of the company in Lagos yesterday, Ashade said: “Our financial performance, in what was a year of protracted disruptions, is a testament of our unwavering commitment to our clients’ needs, come what may.

“For us at United Capital, we are optimistic about the year 2021 as it presents greater opportunities for innovation, growth, and expansion beyond our current ecosystem.”

In his speech, the Chairman of the Board of Directors of United

Capital Plc, Mr. Chika Mordi, said despite the macroeconomic pressure, the company reported an outstanding financial performance in 2020.

“Total revenue was up 50 per cent to N12.87 billion in 2020, from N8.59 billion earned in 2019. Profit before tax grew to N7.95billion in 2020, up 61 per cent from N4.95 billion in 2019, signifying solid growth in the overall profitability of the group.

“The group’s return on average equity for the 2020 financial year stood at 35 per cent, one of the highest among listed financial services institutions, highlighting strong value creation for our shareholders,” he said.

The shareholders at the AGM approved the dividend of 70 kobo per share, totaling N4.2 billion that

was recommended by the directors.

The shareholders commended the company for its transparency in the published financial statements, and its adherence to legal and ethical requirements among others. In addition to its financial performance, United Capital Plc also recorded some achievements during the year.

For instance, its corporate ratings improved from BBB+ to A- with a stable short-term and long-term outlook reflective of an investment grade institution. Its flagship digital platform, InvestNow, recorded over N1 billion in processed investors’ assets with its newly commissioned consumer finance business line disbursing 64,536 instant loans valued at N3.14billion, leveraging a 100 per cent digital model.

Universal Insurance Assures Stakeholders of Return to Profitability Ebere Nwoji Universal Insurance Plc has assured its stakeholders that its current negative position will in no distant time return to positive before the end of the year.

The management also assured stakeholders that the company will continue to exist post recapitalisation, whenever the exercise comes up again, disclosing that the paid up capital of the company currently stands at N8 billion.

With that, the company is 80 per cent compliant before the recapitalisation was paused, it stated. Managing Director/ CEO, Universal Insurance, Ben Ujoatuonu, who stated these while addressing the media on the company’s 60th anniversary

celebration also expressed commitment in ensuring that investors start receiving returns on their investment .

He said despite the impact of COVID-19 on the economy, the company was able to grow its revenue to over 80 per cent and bottom line by over 1,600 per cent in 2020.

Narrating the company’s journey in the past 60 years, Ujoatuonu, stated that Universal Insurance, has been meeting its obligations, creating values and ensuring that its policyholders get their claims as at when due.

He, however, maintained that the company in the past 60 years has travailed through thick and thin like every other organisation, surmounting challenges and moving ahead.

“In 2008, the capital market in

Nigeria experienced very serious challenges, Universal Insurance was one of the companies that invested heavily in the capital market and as a result of that collapse, it had a very serious negative impact on our financials that made us carry over N3 billion negative retained earnings.

“I make bold to report to you that within the time we have been on board and working, that negative retained earnings has been reduced to about N600 million,” Ujoatuonu stated.

“The shareholders have seen that in a short time, very good dividends will begin to roll into the investors,” he added.

According to the Universal Insurance boss, the asset base of the company stands at N11 billion while shareholders’ funds is N12 billion presently.

SIMS Digital Centers Expands Operations SIMS Digital Centers, the official representatives of Samsung, Royal, Panasonic and other international brands in Nigeria has opened an ultra-modern branch in Ajah, Lagos.

Located at Lakeview Estate, Eleganza Complex, Lekki-Ajah Expressway, Lagos, the new SIMS Digital Center is a showroom that offers new experience in

electronics and home appliances shopping.

According to SIMS Executive Director, Corporate Services, Mr. Fab Uzor, “the new SIMS Digital Center in Ajah is positioned to serve residents around Chevron, VGC, Ajah, LBS, Sangotedo, Abijo and surrounding environs. This way they don’t have to go too far to enjoy the best combination

of quality and price.”

According to the organisation, the ultra-modern experience center guarantees efficient customer service backed by an excellent after-sales support to all our customers.

To commemorate the opening of the new showroom, SIMS is also offering up to 20 per cent discount on purchases.

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 MONDAY, 22 MARCH 2021

The price of OPEC basket of thirteen crudes stood at $62.47 a barrel on Friday, compared with $64.79 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

41

T H I S D AY ˾ ͰͲ˜ ͰͮͰͯ

Dangote Cement to Pay N97bn Tax, N16 Per Share Dividend for 2020 Goddy Egene Following its performance for the year ended December 31, 2020, Africa’s largest cement producer, Dangote Cement Plc, has contributed N97 billion as tax charge, while shareholders would receive N16 dividend per share.

According to the cement group’s audited results released on the floor of the Nigerian Stock

Exchange (NSE), yesterday Dangote Cement recorded strong performance not only at the top line but also at the bottom line, owing to cost saving measures.

Dangote Cement sold 15.9Mt in 2020, including both cement and clinker sales. Looking at the domestic sales alone, Nigerian operations sold 15.6 Mt Revenues for the Nigerian operations increased to N720 billion, owing to demand in the domestic

P R I C E S MAIN BOARD

F O R DEALS

market. The Nigerian business recorded a strong earnings before interest, taxes, depreciation and amortisa-tion (EBITDA) of N421.4 billion.

Commenting, Chief Executive Officer, Dangote Cement Plc, Michel Puchercos, said: “2020 was a good year for Dangote Cement across board. Several firsts made 2020 a productive year such as our maiden clinker shipment, maiden bond issu-

S E C U R I T I E S MARKET PRICE

QUANTITY TRADED

VALUE TRADED ( N )

ance and successful buyback programme. We increased our capacity by 3.0 Mt in Nigeria, inaugurated our two export terminals and inaugurated our gas power plant in Tanzania. All these were achieved whilst we focused on protecting our people, customers and com-munities from the impact of the pandemic.

“Dangote Cement recorded strong top-line growth sup-ported by strong cement demand.

T R A D E D MAIN BOARD

A S

Profitability was further bolstered by our disciplined cost control measures in what we believed to have been a highly inflationary and volatile year. These measures resulted in a profit after tax to N276.1 billion.

“Looking ahead, we have strengthened our alternative fuel initiative which focuses on leveraging the circular economy business model and reducing exposure of our cost base to

O F

foreign currencies fluctuations.

We continue to embed Dangote Cement’s seven sustainability pillars into every aspect of our operation and culture.We remain committed to keeping safe our staff and communities by being fully compliant with health and safety measures in all our territories of operation.

We are focused on adapting to the rapidly evolving markets in which we operate.”

2 3 / 0 3 / 2 0 2 1 DEALS

MARKET PRICE

QUANTITY TRADED

VALUE TRADED ( N)

42

WEDNESDAY MARCH 24, 2021 •T H I S D AY

WEDNESDAY MARCH 24, 2021 • T H I S D AY

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WEDNESDAY MARCH 24, 2021 •T H I S D AY

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WEDNESDAY, MARCH 24, 2021 ˾ T H I S D AY

MARKET NEWS

Beta Glass’ Board Approves Accounts, Recommends N1.04 Dividend Goddy Egene

Glass Plc last Monday met to approve the 2020 audited financial statements(AFS). In

Board of Director of Beta 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

a notification to the Nigerian Stock Exchange (NSE), the company said its board also

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 22Mar-2021, unless otherwise stated.

recommended a dividend of N1.04 per share, representing N519.97 million.

According to the company, the AFS would be submitted to the NSE, Securities and

Exchange Commission and any other relevant regulator not later than March 31, 2021.

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 153.19 154.70 -5.31% Afrinvest Plutus Fund 100.00 100.00 3.42% Nigeria International Debt Fund 350.24 350.24 -12.00% Afrinvest Dollar Fund 109.75 109.75 -2.07% 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 1.04 1.05 15.43% ACAP Income Funds 0.65 0.65 -11.03% 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 2.40% AIICO Balanced Fund 3.32 3.48 -6.32% ANCHORIA ASSET MANAGEMENT LIMITED info@anchoriaam.com Web:www.anchoriaam.com, Tel: 08166830267; 08036814510; 08028419180 Fund Name Bid Price Offer Price Yield / T-Rtn Anchoria Money Market 100.00 100.00 0.38% Anchoria Equity Fund 126.36 127.79 -4.95% Anchoria Fixed Income Fund 1.14 1.14 -14.29% ARM INVESTMENT MANAGERS LTD enquiries@arminvestmentcenter.com Web: www.arm.com.ng; Tel: 0700 CALLARM (0700 225 5276) Fund Name Bid Price Offer Price Yield / T-Rtn ARM Aggressive Growth Fund 18.11 18.66 -0.12% ARM Discovery Balanced Fund 402.04 414.16 0.42% ARM Ethical Fund 35.39 36.46 4.99% ARM Eurobond Fund ($) 1.19 1.20 -2.16% ARM Fixed Income Fund 1.04 1.05 -6.84% ARM Money Market Fund 1.00 1.00 1.89% AVA GLOBAL ASSET MANAGERS LIMITED info@avacapitalgroup.com Web: www.avacapitalgroup.com Fund Name Bid Price Offer Price Yield / T-Rtn AVA GAM Fixed Income Dollar Fund 103.19 103.19 1.46% AXA MANSARD INVESTMENTS LIMITED investmentcare@axamansard.com Web: www.axamansard.com; Tel: +2341-4488482 Fund Name Bid Price Offer Price Yield / T-Rtn AXA Mansard Equity Income Fund N/A N/A N/A AXA Mansard Money Market Fund N/A N/A N/A CAPITAL EXPRESS ASSET AND TRUST LIMITED info@capitalexpressassetandtrust.com Web: www.capitalexpressassetandtrust.com ; Tel: +234 803 307 5048 Fund Name Bid Price Offer Price Yield / T-Rtn CEAT Fixed Income Fund 2.04 2.04 -22.73% Capital Express Balanced Fund(Formerly: Union Trustees Mixed Fund) 2.15 2.19 -16.28% CHAPELHILL DENHAM MANAGEMENT LTD investmentmanagement@chapelhilldenham.com Web: www.chapelhilldenham.com, Tel: +234 461 0691 Fund Name Bid Price Offer Price Yield / T-Rtn Chapelhill Denham Money Market Fund 100.00 100.00 2.97% Paramount Equity Fund 15.41 15.70 -3.62% Women's Investment Fund 130.76 132.20 -1.77% CORDROS ASSET MANAGEMENT LIMITED assetmgtteam@cordros.com Web: www.cordros.com, Tel: 019036947 Fund Name Bid Price Offer Price Yield / T-Rtn Cordros Money Market Fund 100.00 100.00 1.99% Cordros Milestone Fund 2023 126.91 127.80 Cordros Milestone Fund 2028 N/A N/A Cordros Dollar Fund ($) 110.46 110.46 CORONATION ASSEST MANAGEMENT investment@coronationam.com Web:www.coronationam.com , Tel: 012366215 Fund Name Bid Price Offer Price Yield / T-Rtn Coronation Money Market Fund 1.00 1.00 0.71% Coronation Balanced Fund 1.15 1.16 -4.43% Coronation Fixed Income Fund 1.46 1.46 -8.10% 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 2.10% EDC Nigeria Money Market Fund Class B 1,000,000.00 1,000,000.00 1.94% EDC Nigeria Fixed Income Fund 1,163.02 1,166.95 -3.04% FBNQUEST ASSET MANAGEMENT LTD invest@fbnquest.com Web: www.fbnquest.com/asset-management; Tel: +234-81 0082 0082 Fund Name Bid Price Offer Price Yield / T-Rtn FBN Fixed Income Fund 1,350.83 1,350.83 5.52% FBN Balanced Fund 182.65 183.92 -2.68% FBN Halal Fund 110.30 110.30 4.63% FBN Money Market Fund 100.00 100.00 2.48% FBN Nigeria Eurobond (USD) Fund - Institutional N/A N/A N/A FBN Nigeria Eurobond (USD) Fund - Retail 123.90 123.90 2.75% FBN Smart Beta Equity Fund 147.20 149.06 -2.63% FCMB ASSET MANAGEMENT LIMITED fcmbamhelpdesk@fcmb.com Web: www.fcmbassetmanagement.com; Tel: +234 1 462 2596 Fund Name Bid Price Offer Price Yield / T-Rtn Legacy Money Market Fund N/A N/A N/A Legacy Debt Fund N/A N/A N/A Legacy Equity Fund N/A N/A N/A Legacy USD Bond Fund N/A N/A N/A FSDH ASSET MANAGEMENT LTD coralfunds@fsdhgroup.com Web: www.fsdhaml.com; Tel: 01-270 4884-5; 01-280 9740-1 Fund Name Bid Price Offer Price Yield / T-Rtn Coral Growth Fund 3,763.56 3,813.20 0.42% Coral Income Fund 3,347.37 3,347.37 2.17% FSDH Treasury Bills Fund 100.00 100.00 1.73%

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 0.98% Nigeria Entertainment Fund 126.88 127.41 18.12% 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 1.83% Vantage Balanced Fund 2.67 2.73 16.60% Vantage Guaranteed Income Fund 1.00 1.00 4.50% Kedari Investment Fund (KIF) 145.60 145.97 -6.33% Vantage Dollar Fund (VDF) - June Year End 1.07 1.07 5.09% LOTUS CAPITAL LTD fincon@lotuscapitallimited.com Web: www.lotuscapitallimited.com; Tel: +234 1-291 4626 / +234 1-291 4624 Fund Name Bid Price Offer Price Yield / T-Rtn Lotus Halal Investment Fund 1.35 1.37 -1.38% Lotus Halal Fixed Income Fund 1,143.76 1,143.76 1.80% MERISTEM WEALTH MANAGEMENT LTD info@meristemwealth.com Web: http://www.meristemwealth.com/funds/ ; Tel: +234 1-4488260 Fund Name Bid Price Offer Price Yield / T-Rtn Meristem Equity Market Fund N/A N/A N/A Meristem Money Market Fund N/A N/A N/A PAC ASSET MANAGEMENT LTD info@pacassetmanagement.com Web: www.pacassetmanagement.com/mutualfunds; Tel: +234 1 271 8632 Fund Name Bid Price Offer Price Yield / T-Rtn PACAM Balanced Fund 1.58 1.61 7.53% PACAM Fixed Income Fund 12.36 12.48 0.98% PACAM Money Market Fund 10.00 10.00 1.74% PACAM Equity Fund 1.57 1.59 -0.51% PACAM EuroBond Fund 109.76 112.51 0.35% 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 125.66 127.81 3.84% 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 3.31% STANBIC IBTC ASSET MANAGEMENT LTD assetmanagement@stanbicibtc.com Web: www.stanbicibtcassetmanagement.com; Tel: +234 1 280 1266; 0700 MUTUALFUNDS Fund Name Bid Price Offer Price Yield / T-Rtn Stanbic IBTC Balanced Fund 3,099.37 3,123.01 -3.64% Stanbic IBTC Bond Fund 227.27 227.27 1.08% Stanbic IBTC Ethical Fund 1.13 1.14 -3.81% Stanbic IBTC Guaranteed Investment Fund 297.80 297.81 1.07% Stanbic IBTC Iman Fund 207.53 210.12 -5.02% Stanbic IBTC Money Market Fund 100.00 100.00 1.84% Stanbic IBTC Nigerian Equity Fund 9,684.79 9,808.79 -7.78% Stanbic IBTC Dollar Fund (USD) 1.24 1.24 1.29% Stanbic IBTC Shariah Fixed Income Fund 112.80 112.80 1.55% UNITED CAPITAL ASSET MANAGEMENT LTD Web: www.unitedcapitalplcgroup.com; Tel: +234 803 306 2887 Fund Name Bid Price Offer Price Yield / T-Rtn United Capital Balanced Fund 1.31 1.33 -3.99% United Capital Bond Fund 1.92 1.92 1.27% United Capital Equity Fund 0.88 0.90 1.36% United Capital Money Market Fund 1.00 1.00 3.80% United Capital Eurobond Fund 118.70 118.70 1.38% United Capital Wealth for Women Fund 1.06 1.08 -2.18% United capital Sukuk Fund 1.02 1.02 2.48% QUANTUM ZENITH ASSET MANAGEMENT & INVESTMENTS LTD service@quantumzenithasset.com.ng Web: www.quantumzenith.com.ng; Tel: +234 1-2784219 Fund Name Bid Price Offer Price Yield / T-Rtn Zenith Equity Fund 11.96 12.06 0.75% Zenith Ethical Fund 13.26 13.37 8.50% Zenith Income Fund 24.22 22.22 -2.97% Zenith Money Market Fund 1.00 1.00 1.99%

REITS NAV Per Share

Yield / T-Rtn

121.90 52.85

0.96% 0.86%

Bid Price

Offer Price

Yield / T-Rtn

12.27 116.42 92.13

12.37 116.42 93.86

-7.16% -4.37% -7.28%

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

3.73 5.30 16.58 1.00 19.03 174.49

3.77 5.38 16.68 1.00 19.23 176.49

-1.24% -6.89% 1.51% 0.42% -7.23% -20.88%

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.

46

WEDNESDAY, ͺͼ˜ ͺ͸ͺ͹ ˾ T H I S D AY

NEWS

FG Awards 57 Marginal Oilfields to 161 Bidders Peter Uzoho The federal government has announced the conclusion of the bid round for the award of 57 marginal oilfields, won by 161 of the bidding companies.

The 161 successful bidders emerged from a pool of over 600 indigenous oil companies that jostled for the 57 marginal fields in the process that commenced in June 2020.

The Minister of State for Petroleum Resources, Chief Timipre Sylva, told journalists yesterday in Lagos on the sidelines of the 2021 first quarter ministerial meeting of the chief executives of agencies under the Ministry of Petroleum Resources that letters informing the winners of the outcome had gone out.

He added that the winners have started paying their signature

bonuses.

He stated that the federal government has received almost 50 per cent of the signature bonuses.

"The process has been concluded. Letters have gone out and people have started paying their signature bonuses. We have received almost 50 per cent of signature bonuses already.

"One hundred and sixty-one companies were allocated marginal fields and I will not give you the details of how many have paid. I've told you that up to 50 per cent of those winners have paid," Sylva said.

He described the bidding process as the best in terms of transparency and that assessment of bidders was done by competent consultants.

"I think this is the best we could have gotten clearly. If you followed the

processes, we published, people applied, companies were pre-qualified, and companies went to the data room and of course, assessment of their bids was done by competent people.

"There were consultants involved in the whole process and bidders emerged, and that's all I can say. It was a very transparent process and I think a lot of people are also hailing the process," he added.

Speaking on some marketers selling petrol above the approved price of N162 per litre, the minister described that as unfortunate and wondered what the Department of Petroleum Resources (DPR) was doing about it.

He said: "That's unfortunate, we hear that.

I should be asking what the DPR is doing about it. Definitely, there is no

fuel (price) increment, I've announced that. The price remains N162 per litre."

He said government is still in discussion with labour and other stakeholders, adding that until all the discussions are concluded, the government is not going to fully deregulate.

Sylva charged agencies to ensure that those deviant marketers were sanctioned.

On the performance of the ministry since his assumption of office, Sylva said the ministry, through its yearly assessment had achieved six of the nine mandate areas.

He stated that the three thematic areas in which the ministry failed to meet the target, including ensuring the passage of the Petroleum Industry Bill (PIB) were being addressed.

Also, the mandate to increase oil production to three million barrels per

day, he said, could not be achieved because of the Organisation of Petroleum Exporting Countries (OPEC)'s production quota cut.

The minister said the last mandate of the ministry to ensure that refineries were rehabilitated, had been achieved with last Wednesday's approval for the rehabilitation of the Port Harcourt refinery by the Federal Executive Council (FEC).

He stated that yesterday's ministerial meeting was for them to review the ministry's performance for the first quarter so that they can deliver better services to Nigerians.

Also briefing reporters on the measures being deployed to achieve the federal government's target of increasing Nigeria's oil reserve, the Director of DPR, Mr. Sarki Auwalu, said the department was

adopting three strategies to achieve the result.

"So what the DPR is doing to increase our reserve are just three things.

One, we look at reserves that require secondary and tertiary recovery and that is why the National Improved Oil Recovery Centre was established; so that you look at what you need to do to really stimulate and produce the needed volume.

"Two, we are targeting heavy oil so that we have a lot of heavy oil and tap.

So, when you do that, you increase the reserve as well.

And in addition to that, we are opening up the inland and new frontiers within the inland basin as well as basins like Dahoma Basin that is yet to be explored.

"So, these are the strategies we are using to increase the reserve and guarantee production," Auwalu said.

FG Gears Up for 12 Highways’ Concession Eyes N1.1tn investments, 250,000 jobs Emmanuel Addeh in Abuja The federal government yesterday started the procurement process for the concession of 12 major roads under the Highway Development and Management Initiative (HDMI), covering all the six geopolitical zones of the country.

Minister of Works and Housing, Mr. Babatunde Fashola (SAN), stated at the ceremony in Abuja that the aggregate total of 1,963 kilometres, which is 5.6 per cent of the 35,000-kilometre federal road network, would be affected by the development.

He said the 12 roads were chosen to ensure the coverage of each of the six geo-political zones, adding that the initial capital

investments would be about N1.134 trillion.

He listed the highways to include Benin-Asaba, Abuja-Lokoja, Kano-Katsina, Onitsha-Owerri, SagamuBenin, Abuja-Keffi-Akwanga and Kano-Maiduguri which fall into lot one.

The second lot comprises Potiskum-Damaturu, Lokoja-Benin, Enugu-Port Harcourt, Ilorin-Jebba, Lagos-Ota-Abeokuta and Lagos-Badagry federal highways.

According to him, the project could create 50,000 direct jobs and 200,000 indirect employments.

“Currently, the government is executing over 700 different contracts, which aggregate to the rehabilitation and reconstruction of over 13,000 km of roads and

bridges across all the 36 states, including the Federal Capital Territory,” he stated.

Fashola added that due to the size of the roads in the country, there is an increasing and unsatisfied demand for funding to finance the projects to completion and to maintain them.

He explained that there’s also the need to finance other complementary services like weighbridges, rest houses, towing vehicles and road furniture, which seem better suited for the commercial initiative of the private sector.

“In the interim, the government is constrained to borrow, offer tax credit, and increase her revenue mobilisation capacities in order to sustain this massive infrastructure renaissance.

“This is the background to the HDMI, which is another effort to mobilise private capacity, resources and entrepreneurship into the Nigerian highway sector; and hopefully convert roads from just social assets into assets of commercial opportunities and enterprise,” the minister stated.

He explained that the HDMI is made up of two categories: Value-added Concessions (VAC) and the Unbundled Assets Approvals (UAA).

The UAA is expected to provide the opportunity for small businesses to take advantage of the commercial opportunities that are available along the Right of Way (RoW) while under the VAC, the road pavement and entire right of way is

given out for development and management by the concessionaire.

Fashola stated that not only has the right of way of the 12 roads been fully gazetted, the Infrastructure Concession Regulatory Commission (ICRC), as a regulatory body for concessions of nature, has also issued the Certificate of Compliance for the Outline Business Case that is necessary to commence the process.

In order to ensure competitiveness and to guarantee transparency, the minister said a procurement portal had been developed to serve as the interface with the public and to manage the HDMI from procurement to implementation, to maintain the integrity of the process and to keep

the playing field level.

He said the HDMI portal would open on March 29, 2021 and all transactions would be done through the portal.

Earlier, the Permanent Secretary in the ministry, Mr. Hussein Babangida, had said the programme was meant to leverage private sector investment to improve facilities and operations on the selected routes.

According to him, it will also help maximise the revenue-generating potential of the routes, reiterate the government's role in infrastructural development as facilitator and enabler of investment; and ensure international best practices in the development and management of highways, amongst others.

No Country Should be Left behind in Post-COVID-19 Recovery, Says Okonjo-Iweala Obinna Chima The Director-General of the World Trade Organisation (WTO), Dr. Ngozi Okonjo-Iweala, has stressed the need to keep global trade flows open to ensure that developing and least-developed countries have access to essential medical goods to control the spread of COVID-19 and are able to use trade to drive sustainable economic recovery.

Okonjo-Iweala, while speaking yesterday alongside other heads of international organisations during the first day of a high-level virtual plenary session of the Aid for Trade Stocktaking Event, said the global trade community must act swiftly to mitigate the severe impact of the COVID-19 crisis on developing countries and in particular, least-developed countries (LDCs).

The speakers, including the World Health Organisation

Director-General, Tedros Adhanom Ghebreyesus; International Monetary Fund Managing Director, Kristalina Georgieva and World Bank's President, David Malpass, stated that the LDCs had been hit the hardest by trade and economic disruptions arising from the pandemic.

They noted that from the supply of health products such as masks to the approval and rollout of vaccines, the multilateral trading system plays a crucial role in ensuring that no one is left behind in the post-pandemic trade and economic recovery process.

Okonjo-Iweala said: “Today, the pandemic is reversing hard-won development gains, adding to the problems facing the most vulnerable.

“The post-COVID recovery must not leave anyone, or any country, behind. The first step towards this goal must be a rapid, global

vaccine rollout that ends the pandemic.

“We need more trade cooperation to address supply bottlenecks, lower regulatory hurdles, facilitate trade and finance vaccine purchases. "Keeping global markets open is essential for a strong and sustained recovery.

“The organisations and members that have cooperated on the Aid for Trade initiative have made a huge difference in peoples' lives. "Working together now to invest in the recovery of trading partners is not just the right thing to do.

“Building back a greener, more equitable, more prosperous global economy is a matter of economic selfinterest for all countries.”

The speakers provided an overview of global trade flows, pointing to a broad recovery of goods trade driven by medical products.

They noted that services trade was also rising but

at a slower pace. They underlined the important role that global cooperation has played in maintaining the flow of goods and food and called for keeping export restraints in check.

According to them, an inclusive, robust and green economic recovery will require open markets and continued mobilising of trade financing to help developing countries and LDCs build resilience to future shocks and alleviate extreme poverty.

Through initiatives such as Aid for Trade, the global community could help address these countries' trade needs so that they may play a more active role in global trade and meet their development objectives, the speakers said.

In his contribution, Ghebreyesus said: “The pandemic is a devastating demonstration that health and the economy are integrated and

interdependent.

“When health is at risk, everything is at risk. But when health is protected and promoted, individuals, families, communities, economies and nations can flourish.

“The pandemic will subside, but there will be another one. And countries will continue to face myriad health challenges that sap productivity, fuel inequality and hold nations back.”

Also, Georgieva said a rebound in trade, if managed properly, could lead to growth and raise living standards in the developing world.

“And we know trade increases job opportunities, trade increases access for poor households to affordable goods and services. “Trade will be at the heart of efforts to build forward towards a greener, more inclusive and digital recovery.

“We get a chance to

transform our economies — a chance to make them smart, green, more equitable.

Trade can play a hugely important role in that regard,” she added.

On his part, Malpass stated that as countries formulate policies for recovery, they have a chance to embark on a green, resilient and inclusive development path, setting a foundation for robust growth and development in the longer run.

“To build back better, we need more trade. If countries work to open their economies and lower trade costs through improved logistics and connectivity, the recovery from COVID-19 will be much faster and stronger.

“We need to ensure a level playing field, governed by transparent and predictable rules. Reducing trade policy uncertainty will be critical to reviving global investment and growth,” he added.

WEDNESDAY MARCH 24, 2021 ˾ T H I S D AY

47

NEWSXTRA

Army Chief Vows to Deal with all Security Threats Facing Nigeria Okon Bassey inUyo The Chief of Army Staff, (COAS), Lt. Gen. Ibrahim Attahiru has said that the Nigerian Army will deal decisively with every form of security threats confronting the country.

Attahiru said this yesterday in

Uyo, Akwa Ibom State capital at the first Commanding Officers Workshop 2021 with the theme, “Repositioning the Nigerian Army to Defeat Contemporary Adversaries in a Joint Environment.”

He assured the nation that the Nigerian Army would soon surmount attempts by some

individuals to compromise the territorial integrity of the country by the declaration of sovereignty on behalf of ethnic nationalities in the country.

He called on the participants at the workshop to commit themselves to the dictates of their duty to the nation.

The COAS said he would

continue to provide mission-oriented training through workshops and build capacity for the military that would make the army dependable and feared by all adversaries.

“The Nigerian Army under my leadership would remain proactive and jointly work with other security agencies to decisively deal with threats facing the nation.

“The Nigerian Army under my watch remains resolute and is poised more than ever before to decisively deal with individuals or groups that threaten the peace, security and stability of our great nation,” he stressed.

In his speech, the Governor Udom Emmanuel of Akwa Ibom State said the security challenges

confronting the nation calls for a military that was ready and equipped to face the problems.

Emmanuel, who was represented by his Deputy, Mr. Moses Ekpo, urged the military to intensify and expand the strategies, techniques and tactics needed to contain all insecurity across the country.

Four Killed, Three Community Leaders Missing as Bandits Attack Kaduna LGs John Shiklam in Kaduna Four people were killed in an attack by bandits in communities in Igabi and Jama’a Local Government Areas of the state.

The Kaduna state Commissioner for Internal Security and Home Affairs, Mr. Samuel Aruwan made this known yesterday in the daily security update in Kaduna.

Aruwan said the attacks which occurred on Monday night, were reported to the state government by security agencies.

He said in Anguwan Lalle village, Igabi LGA, three people were killed by bandits while in Golkofa village, Jama’a LGA on person was killed in an attack on a private clinic in the community.

The commissioner saiid, “Three citizens were killed by armed bandits in Ungwan Lalle village, Igabi local government area. This was made known in a report to the Kaduna State Government by security agencies.

“The incident occurred in the early hours of Monday, March

22, 2021.

“According to the reports, the bandits initially attempted to barricade the Kwanar Tsintsiya road, along the Kaduna-Zaria highway, but were repelled by troops and vigilante patrols.

“As the bandits retreated to their camp, they attacked the village and killed the following locals: Dayyabu Yarima, Dalhatu Ashiru and Suleiman Samatu”.

The statement said “in another incident, troops of Operation Safe Haven reported that gunmen attacked Niima Clinic in Golkofa village, Jema’a LGA, late Monday night, killing one staff of the clinic while three others sustained injuries from gunshots.

According to the commissioner, “Governor Nasir El-Rufai noted the reports with sadness and prayed for the repose of the souls of those killed, while sending condolences to their families.

He also wished the injured a speedy recovery.”

LEADERSHIP TRANSITION…

L-R: Managing Director, Eventful Limited, Mr. Fisayo Beecroft; Chairman of First Bank of Nigeria Limited, Mrs. IbukunAwosika; Chairman and Publisher of Guardian Newspaper, Maiden Alex-Ibru; Chairman of Secure ID Limited, Mr. Adedotun Sulaiman; Founder of Eventful Limited, Mrs. Yewande Zaccheaus; and Managing Director, DCSL Corporate Services Limited, Mrs. Bisi Adeyemi, during the ‘Evolution,’ an event to mark the leadership transition at Eventful Limited in Lagos… yesterday SUNDAY ADIGUN

Buhari Wants Stronger Ties with Nigeria’s Neighbours against Terrorism Deji Elumoye in Abuja President Muhammadu Buhari has canvassed for stronger ties between Nigeria and her neighbours in the onerous task of fighting terrorism.

The President, according to a statement issued yesterday by his Media Assistant, Malam Garba

Shehu, called his Niger Republic counterpart, Mahamadou Issoufou, on phone to sympathise with him and citizens of the neighbouring country, following recent killing of 137 people while strongly condemning the terrorist’s attacks, describing it as heinous.

He said: “Our deepest and heartfelt

condolences to the families of victims and people of Niger Republic. Nigeria stands with all her neighbours in the fight against terrorism”.

Shehu noted that the two Presidents also agreed to strengthen sub-regional security as a way to push back against Boko Haram and Islam in West Africa,

ISWA’s worrisome assertiveness in sub- Sahara and Sahel regions.

Armed attackers riding motorcycles had killed 137 people in coordinated raids on villages in southwestern Niger on Sunday, making it one of the deadliest days in recent memory in a country ravaged by Islamist violence.

The Peoples’ Democratic Party (PDP) yesterday clarified that it has not adopted any position on the zoning ahead of the 2023 Presidential elections.

The party further explained that it has not taken any decision on any of the recommendations proposed by the Senator Bala

Elections.

A statement issued by the National Publicity Secretary of the PDP, Mr. Kola Ologbondiyan, said that the party immensely appreciated the overwhelming interest by majority of Nigerians in the PDP as their national rallying point to elect a pan-Nigeria and people-oriented

Ologbondiyan said: “Our party notes that such unprecedented public interest and confidence in the PDP is responsible for the widespread discussions and enquiries on the recommendations of the Committee on the Review of the 2019 Elections.”

He noted that the recommendations would be subjected to its internal

He said: “While our party appreciatestheenthusiasmbyNigerians on our nomination processes, the PDP assures that its decision on zoning will be the product of wide consultation, discussions and consensus building, taking into consideration the aggregate aspiration and hope of the generality of the Nigerian people.

Gbajabiamila Bows to Pressure, Accepts Petition PDP: No Decision Yet on 2023 Presidential Ticket Mohammed-led PDP Committee leadership that would rescue the democratic process of the party by Chuks Okocha in Abuja of Tiv People relevant organs of the PDP. on the Review of the 2019 nation from misrule come 2023.

Udora Orizu in Abuja

The Speaker of the House of Representatives, Hon. Femi Gbajabiamila at the plenary yesterday, accepted the petition of the Tiv people from Benue State resident in the United States of America, which was earlier rejected by the Deputy Speaker, Hon. Idris Wase.

Wase who sat in for Gbajabiamila had rejected the petition.

The petition, which was presented by Hon. Mark Gbillah (PDP, Benue) accused the federal government of non-chalance towards the perils facing those who have been displaced as a result of herdsmen activities.

Wase, while responding, argued that Nigerians abroad have no rights to file a petition on the crisis.

The rejection had however attracted widespread condemnations from Nigerians all over the world.

But when presented again by Gbillah at yesterday’s plenary, Gbajabiamila who presided over the session accepted the petition.

He said that the House of Representatives cannot discriminate against any Nigerian wherever they may be in any part of the world.

Gbajabiamila said, “I believe this is the same petition that has been causing a lot of misunderstanding.

The misunderstanding came from the issue of signature. Having cleared that misunderstanding, please, go ahead and lay your petition to be given proper attention. Thanks, Hon. Mark Gbillah; thank you for your patience.’’

Speaking to journalists after the plenary, Gbillah while commending the Speaker for his intervention, appealed to Nigerians in diaspora to sheathe their swords and rescind their earlier threat to withhold diaspora remittances in the light of the acceptance of the petition.

The lawmaker also appealed to Wase to apologise for his statement.

He said, ‘’I would also like to first all commend Nigerians in diaspora for rising up to defend their constitutional rights. It is their privilege to do so. I appreciate their rallying around us, the Tiv people and the Tiv Association in America who brought up this petition in the first place. I don’t want us to lose focus on the crux of the petition itself.

“I want to appeal to them in the light of the final submission of the petition and Mr. Speaker’s confirmation of the commitment of the House in the furtherance of the issue of our people in diaspora to sheathe their swords and rescind their earlier ultimatum with regards to remittances.

Akinfeleye, Mojaye, Adeniyi, Others to Lead New Communication Researchers Renowned Professor of Mass Communication, Dr. Ralph Akinfeleye, will alongside professors Eserinune McCarty Mojaye, Abiodun Adeniyi, Joseph Babatunde Ayodele, and others, lead the nascent Association of Media and Communication Researchers of Nigeria (AMCRON), committed to the growth and development of communication research, scholarship and development in Nigeria and beyond.

The group said in a statement announcing the constitution of its first Governing Council and first Executive Council that the 280-member group made up of scholars and practitioners has members spread across 100 institutions of higher learning in Nigeria, with ten in foreign institutions and 12 in local and international organisations.

AMCRON’s President, Professor

Mojaye of the National Open University of Nigeria (NOUN) said the group is out to develop and improve members research and theory-building capabilities, while networking with others of like minds for knowledge and nation building purposes.

Mojaye thanked members for their interests and enthusiasm, urging them to give the Council and the Exco their maximum support and cooperation to move the association to safer, and mutually beneficial higher grounds to advance knowledge in media and communication studies.

He emphasised group’s commitment to “drive development in media and communication just like the energy generated by the electromagnetic wave,” aside from the “intellectual search for new frontiers in the media and communication field”

According to him, with the overarching philosophy captured in the group’s logo, the association’s aim of magnifying the potentials inherent in Nigerian scholars to advance knowledge in media and communication is in evidence, adding that the intellectual voice of the association that would radiate across the board in media and communication would also be obvious.

With the motto “for Scholarship, Growth and Development”, Mojaye said Prof. Akinfeleye will chair the AMCRON Governing Council, while Joseph Babatunde Ayodele will serve as secretary.

Other members of the Council are Vice Chairman, Prof. Abdalla Uba Adamu, Bayero University, Kano; Prof. Godwin Ehiarekhian Oboh, Benson Idahosa University, Benin City; Prof. Akeem Mojisola Adeyanju, National Institute for

Policy and Strategic Studies, Kuru, Jos; Prof. Aniefiok Jackson Udoudo, University of Port Harcourt, Port Harcourt, and Dr. Onyebadi Uche, Associate Prof., Texas Christian University, Fort Worth, Texas, U.S.A. The day-to-day administration of the group will be handled by the National Executive Council, where Mojaye is President, and Abiodun Adeniyi of Baze University will serve as General Secretary. Other members are Vice-President, Prof. Godwin Ehiarekhian Oboh, Benson Idahosa University, Benin City; Assistant Secretary-General Muhammad Aliyu, Nuhu Bamalli Polytechnic, Zaria; Financial Secretary, Dr. Allwell Okechukwu Nwankwo, Financial Institutions Group, International Finance Corporation, Lagos; and Publicity/ Networking Secretary, Dr. Oludare Ebenezer Ogunyombo, Caleb University, Imota, Lagos

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BUA Chairman Launches $100m Yearly Fund for Social Development Dike Onwuamaeze A Nigerian industrialist and philanthropist, Mr. Abdul Samad Rabiu, has launched the Abdul Samad Rabiu Africa Initiative (ASR AFRICA) with $100 million annual funding for Africa’s social development and renewal.

The aim of the endowment is to unlock sustainable development

opportunities in Africa, by Africans, for Africans that would cater for various interventions in education, health and social development.

According to a statement by the ASR Africa Initiative, $50 million would be dedicated to Nigeria yearly while $50 million would go to the rest of Africa.

Rabiu, who is the Founder and

Chairman of the BUA Group, one of Africa’s largest foods, mining, infrastructure and manufacturing conglomerates, is also the sixth richest black person in the world, according to the latest Forbes rankings.

The BUA chairman said: “It is with the blessings of the Almighty, my family, colleagues, the support of my

community and the backing of my conscience, that I announce the launch of the Abdul Samad Rabiu Initiative, with an Africa fund endowment of $100 million every year starting from this year, 2021.

“With the Abdul Samad Rabiu Initiative and its annual $100 million Africa Fund for Social Development, we are specifically

Osinbajo: Repositioning Economy Tops Post-COVID-19 Agenda of Nigeria Deji Elumoye in Abuja Vice President Yemi Osinbajo has disclosed that the top priority of Nigeria in the postCOVID-19 pandemic era will be the immediate and proper repositioning of the nation’s economy.

He listed other post-COVID-19 pandemic priorities of the nation to include, building resilience in the health sector, adding that repositioning the economy on a sustainable footing in the medium term will save jobs and build domestic capacity and local production in critical areas.

Osinbajo made this disclosure yesterday at a virtual Chatham House

interactive session with the theme themed: “Priorities for Nigeria’s Post-COVID Recovery” chaired by a senior official of Chatham House, Dr. Renata Sevan.

During the interactive session, the Vice President discussed the challenges posed to Nigeria by the global COVID-19 pandemic and the Nigerian government’s response aimed at ensuring lasting socio-economic recovery and development.

Osinbajo highlighted the significant impact of the Buhari administration’s Economic Sustainability Plan (ESP) as a crucial pivot in helping the country respond to the fallouts of the pandemic.

He explained that “the Buhari administration’s first priority was to

protect people and their livelihoods in response to the fallout of the pandemic. One of the ways was to support the critical MSMEs sector through the Survival Fund scheme, a component under the ESP.” According to him, “one of the specific interventions under the ESP was what we describe as the Survival Fund, which essentially was a fund to protect jobs and to ensure that during the course of the pandemic and immediately thereafter, informal workers in particular or private sector workers especially those in the informal sector, were at least able to continue to earn some wages.”

He stated that through the Survival Fund scheme, over 300,000 beneficiaries, as well as businesses

have been supported during the pandemic “by providing salaries for three months for beneficiaries, which include private school teachers, artisans, road transporters, taxi cab operators, and commercial tricycle operators in the urban areas.

“We also sought to protect the most vulnerable, in particular, the urban poor who were also hard hit. What we did was to provide direct cash transfers to the urban poor, many of them who are captured in a social register. In the first phase of that, we are able to benefit about 1 million beneficiaries, and we are now in a position using the same social register to scale up the programme to about 20 million beneficiaries.”

extending this work to the education, health and social development sectors, starting with infrastructure and capacity development in these areas and supporting the efforts of various governments in Nigeria and Sub-Saharan Africa.

“Our broad focus is equipping facilities, our researchers, healthcare practitioners and community-level service providers, with the aim of providing sustainable solutions for generations to come.”

The ASR Africa Initiative also announced grants of N1billion each to six Nigerian universities across Nigeria’s six geopolitical zones.

These grants would go toward the initiation and upgrading of infrastructure, where applicable in the benefitting universities, namely the Ahmadu Bello University, the University of Maiduguri, the University of Nigeria, the University of Benin, the University of Ilorin and the University of Ibadan.

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Court Orders Extension of NIN Registration By Two Months Davidson Iriekpen A Federal High Court sitting in Lagos has ordered the extension of the deadline for National Identity Number (NIN) by two months.

Justice Maureen Onyetenu granted the extension while

delivering a ruling in a fundamental rights suit filed by legal practitioner, Mr. Monday Ubani against the federal government, the Attorney General of the Federation, Nigerian Communications Commission (NCC) and the Minister of

Malami Insists on Plea Bargaining to Enhance Recovery of Stolen Assets Alex Enumah in Abuja Attorney General of the Federation (AGF) and Minister of Justice, Mr. Abubakar Malami (SAN) yesterday observed that the effective deployment of the provisions of Plea Bargain will among others enhance the recovery of the country’s stolen assets by public office holders.

Malami made the observation while speaking at a virtual roundtable for the review of the draft guidelines on Plea Bargaining for federal prosecutors.

Plea Bargain according to section 494(1) of the Administration of Criminal

Edo State Government yesterday evening, demolished a property belonging to the immediate past deputy governor of the state, Dr. Pius Odubu.

Also demolished were properties belonging to a member of House of Representatives representing Owan Federal Constituency of the state, Prof. Julius Ihonvbere; and that of the owner of Sports Marketing Outfit, Pamozi, Mr. Mike Etamuagbon.

The properties demolished were all situated at the Government Reservation Areas (GRA) within the state capital, Benin City.

THISDAY gathered that Odubu’s property was occupied by his younger brother and his family

at the time it was demolished, while that of Ihonvbere was still under construction.

While reacting to the destruction, Odubu described the demolition by the state government as unfortunate, saying the matter was already before the court.

He said he had read on the newspaper in January this year that his Certificate of Occupancy (C of O) to his property situated at Dennis Osadebe Avenue in the Government Reserve Area (GRA) in Benin City had been revoked.

“But the information concerning the demolition came to me this afternoon, March 23, that my property situated at Dennis Osadebe Avenue has been brought down by agents of the government on the directive of the governor.”

Gbajabiamila Decries Embarrassing Stories from Foreign Missions Adedayo Akinwale in Abuja The Speaker of the House of Representatives, Hon. Femi Gbajabiamila, has lamented that Nigeria’s foreign missions are full of embarrassing stories.

Gbajabiamila stated this yesterday at a two-day public hearing that was organised by the House Committee on Foreign Affairs to investigate incessant malpractices associated with diplomatic postings and deliberate draining of resources in the Ministry of Foreign Affairs.

He noted that the ministry, its departments and agencies, including the country’s missions all over the world, exists to promote the interests of Nigeria and protect the wellbeing of Nigerians across the globe.

But the House, according to him, has received petitions and pleadings from Nigerians at home and abroad alleging varying degrees of malpractice

an order halting the said ultimatum and extending the deadline.

The former NBA Ikeja Chairman also asked the court for; a declaration that the ultimatum given to telecommunications operators by the 1st, 3rd and 4th Respondents to block all Subscriber Identification Modules (SIM) cards that are not registered with NIN, is grossly inadequate and will not only work severe hardship, but will likely infringe on the fundamental rights of the applicant (and millions of other

Nigerians) to freedom of expression as guaranteed by section 39(1)(2) of the 1999 constitution of the Federal Republic of Nigeria as well as violate section 44(1) of the 1999 constitution of the Federal Republic of Nigeria (as amended) which prohibits the compulsory acquisition of right or interest over moveable property.

“A declaration that in view of the Covid-19 pandemic and the rising cases in Nigeria presently, the deadline given by the 1st, 3rd and 4th respondents to the applicant

and over 200 million Nigerians to register their SIM Cards with NIN, will lead to a rush, thereby resulting to clustering of the applicant and other Nigerian citizens in a NIN registration centre, subjecting him to the possibility of easily contracting the covid-19 virus, and such will amount to a violation of his fundamental right to life as protected by section 33(1) of the 1999 Constitution of the Federal Republic of Nigeria (as amended).

Justice Act (ACJA) 2015, is, “the process in criminal proceedings whereby the defendant and the prosecution work out a mutually acceptable disposition of the case, including the plea of the defendant to a lesser offence than that charged in the complaint or information and in conformity with other conditions imposed by the prosecution, in return for a lighter sentence than that of the higher charge subject to the court’s approval.”

Malami stated that the country’s justice system “is presently fraught with a lot of challenges which prolong adjudication time and most times frustrate parties”.

Edo Demolishes Ex-Deputy Gov, Federal Lawmaker’s Houses in Benin Adibe EmenyonuinBeninCity

Communication and Digital Economy.

In the suit, Ubani had contended that the initial two weeks ultimatum (now extended to April 6, 2021) given to telecommunication operators to block SIM Cards of Nigerians who have not registered their SIM Card with NIN if allowed, will infringe on his constitutionally guaranteed right to freedom of expression, right to own moveable property and right to life.

He, therefore, asked the court for

and malfeasance in the ministry’s operations and its subordinate departments and agencies.

The speaker stressed that while these assertions were not conclusions, the House Committee on Foreign Affairs should exercise the House constitutional authority to conduct a thorough investigation that would either substantiate or refute these allegations by relying on available evidence and the contributions of stakeholders.

He said: “Personally, let me say that there’s hardly a country I visited that there are no embarrassing stories in our missions. I visited many right from my time as the Minority Leader and House Leader and I can recall such stories.”

Gbajabiamila, however, assured that it was not the intention of the House to act in a manner that singles out any individual or group; neither is it its desire to take punitive action as a matter of politics.

INTER-AGENCY COLLABORATION...

Managing Director of Nigerian Ports Authority (NPA), Ms. Hadiza Bala Usman (left), and Director General of Nigerian Maritime Administration and Safety Agency (NIMASA), Dr. Bashir Jamoh, during Jamoh’s working visit to NPA in Lagos…yesterday

Buni: I Never Made Allegation against Supreme Court Judges over Imo North Election Michael Olugbode in Abuja The National Caretaker Chairman of All Progressives Congress (APC) and Governor of Yobe State, Alhaji Mai-Mala Buni has said he had at no time alleged that some judges of the Supreme Court met with opposition Peoples Democratic Party (PDP) to subvert the course of justice in the case of Imo North senatorial election.

Buni, in a statement issued yesterday by his spokesman, Mallam Mamman Mohammed, the governor said he also did not sanction anyone or group of people to speak on his behalf on the issue relating to Imo North senatorial election.

“It has come to my knowledge that an allegation was made against some Supreme Court judges claiming that there was

a meeting between their Lordships with the PDP to subvert the cause of Justice in the case of the Imo North Senatorial election.

“I want to make my position abundantly clear and in an unambiguous terms that, l Hon. Mai Mala Buni, the Executive Governor of Yobe state and Chairman APC Caretaker Extraordinary Convention Planning Committee, had at no

time personally said, written nor directed anyone to write on my behalf or the party to allege or claim that their Lordships met with members of the PDP or any political party on any matter.

“I must say that l am conscious of the positions their Lordships occupy, and would not be a party or associated to such reckless statements against their Lordships.”

...APC’s Petition Forces Apex Court to Suspend Ibezim’s Appeal Indefinitely Alex Enumah in Abuja The Supreme Court yesterday suspended hearing indefinitely on an appeal filed by the candidate of the All Progressives Congress (APC), Mr. Francis Ibezim, against his disqualification in the December 5, 2020, Imo North Senatorial Bye-election.

Presiding Justice of a five man panel, Justice Musa Datijo Mohammed, attributed the indefinite suspension on a petition against him and two of his colleagues by the Acting Chairman of the APC, Mr. Mai Mala Buni.

Ibezim had approached the apex court to upturn two judgments of the lower courts that disqualified

him in the December 5 Senatorial By-election for the vacant seat of the Imo North Senatorial District at the National Assembly.

Both the Court of Appeal, Abuja and Federal High Court, Abuja in two separate judgments had held that Ibezim supplied false information to the

Independent National Electoral Commission (INEC) to aid his qualification for the byeelection and accordingly ordered his disqualification from the poll.

Dissatisfied, Ibezim approached the Supreme Court to set the two judgments aside and hold that he was qualified to participate in the poll.

FG to AssistVictims of Katsina Market Fire Incident Francis Sardauna in Katsina The federal government yesterday commiserated with the Katsina State Government and traders over the fire incident that destroyed hundreds of shops and stalls at the Katsina Central Market, and promised to assist the affected traders.

The Minister of Justice

and Attorney- General of the Federation, Mr. Abubakar Malami, who led the delegation to the state, told the state Governor, Aminu Bello Massri, at the Government House in Kastina that President Muhammadu Buhari was deeply concerned about the devastating effects of the inferno.

Malami was accompanied by the Minister of Interior,

Rauf Aregbesola; Minister of Humanitarian Affairs, Disaster Management and Social Development, Sadiya Farouq; Minister of Aviation, Hadi Sirika; Minister of Police Affairs, Maigari Dingyadi; Presidential spokesman, Garba Shehu, among others.

THISDAY reported that the fire outbreak had last Monday morning gutted the Katsina

Central Market, and destroyed hundreds of shops and stalls.

He explained that President Buhari sent the high-power delegation to commiserate with the victims and state government over the tragic incident, which he termed a huge loss to the state and the country at large.

Nigeria Receives First Set of MTN’s COVID-19Vaccine Donation Emma Okonji The Nigerian government has taken delivery of the first set of 300,000 doses of COVID-19 vaccines out of a total of 1.4 million doses designated for Nigeria by the African Union (AU).

The vaccines are a combination of doses of AstraZeneca vaccines from the COVAX facility and the AU’s COVID-19 vaccination programme, which the MTN Group contributed $25 million.

The vaccines will be distributed among health workers in Nigeria by the National Primary

Healthcare Development Agency (NPHDA).

Commenting on the vaccines, the Director-General of the NPHDA, Dr. Faisal Shuaib, said: “On behalf of health care workers in Nigeria, we commend the efforts of the Nigerian government and the African Union in the fight

against COVID-19, and we thank MTN for their collaboration. The arrival of these vaccines is a major step, as we try to stay ahead of the virus. We need all the collaboration we can get, and I implore more organisations to join this drive for the Nigerian people.”

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PDP Asks Buni to Resign over Allegation against Supreme Court Justices Says ruling party must relinquish power in 2023 Chuks Okocha in Abuja The Peoples Democratic Party (PDP) has asked Yobe state Governor Mala Mai Buni to resign his position as governor and Interim National Chairman of

All Progressives Congress (APC) following the pronouncement of the Supreme Court, which found the leadership of the party as “irresponsible and reckless”, for engaging in unsubstantiated allegations against the justices of

By–electionViolence: Injured Policewoman Dies in Ekiti Victor Ogunje in Ado Ekiti A Policewoman, Sergeant Bukola Olawoye, who was shot on Saturday during the Ekiti East Constituency 1, Omuo Ekiti, House of Assembly’s by-election, has died.

The Ekiti State Police Commissioner, Mr. Babatunde Mobayo, who broke the news of her passing away, said: “With deepest sorrow, we announce the death of Sergeant Olawoye Bukola, who was shot by a group of thugs that invaded Ward 7, Unit 7, during the recent Ekiti East House of Assembly By- Election.

“She died at about 6 p.m. on Monday being March 22, at the Federal Teaching Hospital, Ido-Ekiti, after battling with her

life for days.

“The command sympathises with her family members and prays that God grants her soul eternal rest.”

However, the People’s Democratic Party (PDP) in Ekiti State, has warned the state government not to engage in any form of political interference in the ongoing trial of the suspected political thugs that killed and injured PDP’s members during the poll.

The party commended the police for the prompt arrest of the suspects and promised to work with all concerned authorities to ensure diligent prosecution in order to get justice for the victims of the vicious attacks.

the apex court.

The main opposition party has described as bragging a claim by the ruling party that it will remain in office for 32 years, saying such claim is a direct confrontation with the position of the generality of Nigerians, who had already reached a national consensus to kick the party out of office in 2023.

The PDP further said that it was indeed appalling that the Buni leadership of the APC could, in their penchant for falsehood, go to the extent of falsely accusing the justices of the Supreme Court of holding a meeting with PDP leaders allegedly to subvert justice, in a case, in which the PDP is

not even a party.

In a statement issued yesterday by the National Publicity Secretary of the party, Mr. Kola Ologbondiyan, PDP said that the pronouncement of the Supreme Court, the highest court in the land, has ultimately vindicated its stand that the APC is a party of irresponsible, reckless and dishonourable persons, who only thrive in fabrications, falsehood, lies, blackmail and character assassination.

According to the PDP, “It is shameful that after mismanaging its nomination process in the Imo North Senatorial by-election, the APC leadership is seeking to drag our party into its vicious attempt

to use the instrument of blackmail and character assassination against the justices of the Supreme Court to settle their internal scores.

“While it is obvious that the APC is plagued with political cannibalism, infighting and backstabbing, it is shocking that it will carry its wild tendencies to this ridiculous extent,” PDP stated.

The PDP also described APC’s claim of registering 36 million Nigerians in their failed fictitious registration exercise as another political hoax and empty claim, which cannot sway Nigerians in any way.

In a seperate statement, Ologbondiyan said that the PDP was aware that Buni made such a

garrulous statement claiming that the party will rule for 32 years in the belief that intimidation of the Independent National Electoral Commission (INEC), the judiciary and security agencies as well as deployment of thugs from neighbouring countries, will help them to subvert the will of Nigerians in future elections.

According to the PDP, “in Buni’s whims and thoughtlessness, Nigerians should make themselves ready for another 26 years of anguish, pains, hunger and starvation, insecurity and limitless suffering. This is the height of recklessness, insensitivity and affront to the sensibilities of Nigerians.”

NDLEA Intercepts Parcels of Cocaine, Heroin Being Shipped FIGHTING TUBERCULOSIS… to UK, Ireland, Australia L-R:Genexpert Focal Person, EL-Laboratory Diagnostics, Lagos State, Mr. Emmanuel Onyeje; Laboratory Director, EL-LAB Diagnostics The National Drug Law Enforcement Agency (NDLEA), has intercepted well-concealed and unaccompanied parcels of cocaine, heroin, methamphetamine and cannabis sativa being shipped to the United Kingdom, Northern Ireland, Australia, Maldives and New Zealand.

A statement issued yesterday by the spokesman of the agency, Mr. Femi Babafemi, disclosed that a notorious trafficker, Mr. Sikiru Owolabi, who is behind at least two of the parcels has been traced and arrested after days of thorough and systematic surveillance by NDLEA operatives.

The statement added that the undercover narcotic agents attached to two international courier companies in Lagos made the seizures.

“Sikiru Owolabi, who has

made useful confessions during interrogations, was tracked after 1kilogramme of cocaine concealed in cream containers and meant for Dublin in Northern Ireland was intercepted at one of the courier firms in Lagos. This was also followed by the discovery of another 200grammes of cocaine meant for London, United Kingdom in the same courier company,” the statement explained.

The disclosed further disclosed that in another undercover operation, 320grammes of heroin concealed in earrings coming from Congo and going to Australia was seized at a different courier firm in Lagos, just as another 390 grammes of cocaine hidden in men’s clothing and going to Northern Ireland was intercepted in the same company.

Nigeria Lost $5.7bn to Shoddy Concessions, Says House Udora Orizu in Abuja The House of Representatives yesterday disclosed that the country has lost over $5.7 billion to unfavourable and non-transparent Public-Private Projects (PPP) and property concession deals in the last few years.

The lower chamber also revealed that the government is losing over $90 million to the Build Operate and Transfer (BoT) deal between aviation agencies and private investors.

The lawmakers made the disclosures at an inaugural meeting of the Adhoc Committee to Investigate the Governing Lease of Federal Government-Owned Assets, chaired by Hon. Daniel Asuquo.

Speaking at the meeting, Asuquo said it has been discovered overtime that the realisation of the federal government’s objective, may become a tall order if appropriate checks and balances are not put in place by way of oversight.

He made reference to the Murtala Muhammed Domestic Airport Terminal 2 situated in Lagos and its ancillary facilities which were developed under a BOT agreement, saying that the federal government is losing over $90.5 million annually due to the shoddy agreements between the Federal Airports Authority of Nigeria (FAAN) and its concessionaire at both local and international wings of the airport.

and National President, Guild of Private Medical Laboratory Directors, Mr. Elochukwu Adibo; and Director, Disease Control, Lagos State, Dr. Agbolagorite Olurotimi, at the unveiling of 16 modular genexpert tuberculosis testing machine donated by USAID to Lagos... recently ABAYOMI AKINYELE

Centre for Humanitarian Dialogue Seeks Synergy to End Humanitarian Crisis in North-east Kingsley Nwezeh in Abuja The Centre for Humanitarian Dialogue (HD) has called for synergy among stakeholders in the North-east, including policy makers, the military, international actors, Non-Governmental Organisations (NGOs) and communities in order to end the humanitarian crisis in

the North-east.

Speaking at the two-day summit of stakeholders in the North-east humanitarian crisis themed: “Northeast Symposium on Reconciliation, Resettlement and Reintegration,” in Abuja, the Country Manager of HD, Miss Milicent Ojomo, said the insurgency war in the region had created humanitarian crisis

following the displacement of two million people.

She observed that a disconnect existed in the way actors involved the management of insurgency and the concomitant humanitarian crisis operated.

She noted that a national peace architecture was missing and stressed the need for synergy among the actors and the need

to evolve an alternative narrative.

“What we want to see is a clear alignment for all the stakeholders, HD works quietly in the communities and therefore, we require state and federal authorities to also be well connected.

“Presently, there is a bit of disconnect. There are various actors doing various things, the coordination, the national peace architecture is missing”, she said.

Late Ajayi’s Assets: Cooperate With Family, Falana Advises Wife, Daughter Alex Enumah in Abuja Counsel to the family of the late Dr. Tosin Ajayi, Mr. Taiwo Olawanle of Falana & Falana Chambers has advised wife of the deceased, Mrs. Helen Prest Ajayi; her daughter, Miss Tomisin Ajayi and a firm, First Foundation Medical Engineering Company Limited (owned by the deceased) to cooperate with the

family of the late Ajayi over the management of his assets.

The advice was coming on the heels of a warning by Mrs. Helen-Prest Ajayi and the firm to the general public not to intermeddle with assets belonging to her late husband.

They had vide a letter to the Managing Director of Digital Landlords Nigeria Limited and

Shorter Homes and to the attention of one Mr. Keji Giwa warned the public against transacting any business with anyone under any guise with respect to landed properties belonging to the deceased pending the regularisation of ownership of the firm.

The complianants in the letter written on their behalf by their lawyer, Mr. Abiodun

Owonikoko (SAN), accused one Mrs Oluwayemisi Ajayi of attempting to usurp the powers of the firm.

However, responding to the letter to Giwa on March 18, 2021, lawyer to the family of the deceased, Olawanle, while noting that his client was not ready to join issues with the complainants, urged for cooperation.

Again, Amotekun Operatives Seize over 100 Cows in Ondo James Sowole in Akure Barely 48 hours after men of the Ondo State Security Network, codenamed Amotekun Corps, seized more than 100 cows and arrested nine herders for violating regulation banning open grazing, men of the security agency yesterday seized another herds said to be over 120.

The cattle, according to the

state Commander of Amotekun Corps, Chief Adetunji Adeleye, were seized from a farm at Ipinsa area of Ifedore Local Government Area of the state.

Adeleye said the action of the corps was sequel to a distress call by the people of the community, who alerted Amotekun that the cows were destroying their crops in the farms.

However, as the men of the

corps were leading the cows to the Alagbaka headquarters of the security agency, there was confusion on the popular Oyemekun/Adesida Road.

While motorists violated traffic rule by driving on one way, the movement of the cows and the Amotekun Corps created a scene on the road as people were taking pictures and recording happenings with their mobile phones.

The onlookers were singing praises of the state governor for the decisive action against herdsmen, who lead their animal to destroy the people’s crops.

The state Governor, Mr. Oluwarotimi Akeredolu, had last Monday reiterated that the state would enforce the regulation banning the open grazing in the state, which also banned underage herders in the state.

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AFCON 2021 QUALIFIERS

Super Eagles Camp Alive with Excitement as Invited Players Train at Teslim Stadium Now confirmed team to travel by boats to Cotonou Friday morning

Femi Solaja As the countdown for the final round of qualification matches for the 2021 Africa Cup of Nations begins, Super Eagles camp in Lagos has come alive with all the invited players.

Except for Leicester City’s Kelechi Iheanacho who was being expected as at press time last night, all the invited players participated in the evening training session at the Teslim Balogun Stadium in Lagos.

Speaking shortly after the session, Eagles Head Coach, Gernot Rohr said his wards will approach Saturday’s clash with Benin Republic with the intention of picking all three points.

“We are keen to restore a winning mentality to the group ahead of very crucial matches that we have ahead. It is important

that we earn victories in the upcoming matches so that we get into our paces for the FIFA World Cup qualifiers.

There will be tough games to come and we need to be rearing to go,” observed the Franco-German gaffer in apparent reference to Nigeria’s draw matches at home and away to Sierra Leone last November.

Despite the initial scare European clubs were not going to release African players (including Super Eagles) for the AFCON 2021 qualifiers due to the Covid-19 quarantine protocols in place, Rohr insisted that he had a Plan B to survive the situation if it had occurred.

This, perhaps, explains why three players from the domestic league were drafted to the team

belatedly.

The arrival of Napoli forward, Victor Osimhen and Samuel Chukwueze of Villarreal of Spain was a huge boost to the team as non-playing Captain, Ahmed Musa, confirmed that Super Eagles were set to go to Port Novo to demolish the Squirrels.

“We are ready to make up and banish the disappointment of the last matches and the best way is for every one of us to push further up in the two coming matches but for now, it’s the away match that is uppermost and we want all Nigerians to come behind us,” Ahmed

Musa emphasized.

Still fresh from recent Scottish league win with Glasgow Rangers, Joe Aribo expressed his excitement at playing his first game in Lagos.

“Playing in Lagos, we were told is a special moment considering the fact that it was traditional home of the national team and if I’m selected it will be a special moment for me and most of my teammates,” Aribo promised.

Meanwhile, the Super Eagles will travel by waterways to Porto Novo on Friday morning, and will stay the night

in the Beninoise capital, Cotonou, before moving to Porto Novo on Saturday for the game.

The contingent will return to Cotonou after the game and travel back to Lagos on Sunday morning.

Nigeria top their group with eight points, one better than the Squirrels of Benin Republic, against whom they trade tackles at the Stade Charles de Gaulle in Porto Novo on Saturday.

Three days later, the Eagles will confront the Crocodiles of Lesotho at the Teslim Balogun Stadium, Lagos in what will be their first encounter in Nigeria’s

commercial and economic capital in 10 years.

PLAYERS IN CAMP: Goa lk eep er s:Ma du k a Okoye, Francis Uzoho, John Noble; Defenders: William Ekong, Olaoluwa Aina, Adekunle Adeleke, Chidozie Awaziem, Leon Balogun, Tyronne Ebuehi, Jamilu Collins, Zaidu Sanusi; Midfielders: Semi Ajayi, Oghenekaro Etebo, Abdullahi Shehu, Joseph AyodeleA r i b o , Wi l f re d N d i d i ; Forwards: Ahmed Musa, Henry Onyekuru, Anayo Iwuala, Alex Iwobi, Paul Onuachu, Samuel Chukwueze, Victor Osimhen.

N AT I O N A L S P O R T S F E S T I VA L

Edo Begins Vaccination for Athletes, Coaches, Others said the organisers

Adibe Emenyonu in Benin City

In line with the already laid down guidelines for the National Sports Festival slated to begin April 2 this year, Edo State’s contingent for the games have started to receive the Covid-19 vaccination.

Project Manager for Team Edo, Anehita Emeya, who disclosed this in Benin City yesterday, said the team is ready for the games and is set to make the state proud.

Emeya noted that the vaccination exercise for the contingents is in line with the directive by the Main and Local Organising committees that insisted on compulsory vaccination for all athletes/officials at least 12 days before arrival for the competition.

The Project Manager

of the competition decided that all athletes/officials from the 35 states and the FCT, participating in the National Sports Festival must take Covid-19 tests 72 hours before arrival for competition.

Presentation of vaccination certificates and documentation of the tests have been made compulsory before athletes can be admitted into the Games Villages.

Emeya stated that the state plans to vaccinate about 1, 500 persons, including athletes, coaches, vendors and drivers who are part of the state’s contingent.

Reassuring the team’s preparedness ahead of the national competition, the Project Manager noted that “Edo is to host and win the games.”

12 Nigerian Officials for 2021/2023 FIBA Competitions Following the conclusion of the 2021 FIBA Match Commissioner and Referees examinations on Monday, 12 Nigerians have been accredited for the 2021/2023 international window.

Current technical representatives on the Nigeria Basketball Federation, Adamu Janlong was retained as Match Commissioners alongside Adeola Oboro and Akisehinde Ishola.

Lai Alimi made a return to the continent as a certified referee alongside

renowned FIBA referee, Kingsley Ojeaburu.

Others are Lagos-based Samuel Shofoluwe, Ayodeji Oladeji (Ibadan), Afolabi Ikuomola (Lagos), Opeyemi Ogunleye (Abuja) and Gambo Musa (Jigawa).

New entrant Fatima Ibrahim (Abuja) was the only female that passed the examination and physical test.

She is set to make her debut on the continent alongside Samuel Nuhu (Abuja) who completed the 12-man list.

L-R: Super Eagles players Joe Aribo, William Troost-Ekong, Alex Iwobi and Leon Balogun at training at the Teslim Balogun Stadium, Lagos...yesterday

‘S’Leone Has Given Us Hope We Can Beat Nigeria’ Benin Republic coach boasts ahead of weekend clash Benin Republic Head Coach, Michel Dussuyer, has said the Squirrels have been inspired by the results Sierra Leone got against Nigeria and so hope to beat the star-studded Nigerian side on Saturday in Porto-Novo.

Last November, the Leone Stars staged a remarkable comeback by fighting back from four goals down to draw 4-4 with the Super Eagles in Benin City, while the return leg in Freetown a couple of days later ended in a scoreless draw.

“To beat Nigeria, it won’t be easy because Nigeria have many top players who play in Europe, but Sierra Leone have shown us that it is not impossible,” said Dussuyer, who is back in his second spell with Benin.

“In the first game in Nigeria, we were disappointed they beat

us (2-1).

“We know the Nigerian team better and out ambition is to beat them here at home.”

The Squirrels have been boosted by the availability of as many as a dozen players, who are based in France and who were in

danger of missing out on this clash because of travel restrictions because of the Covid Pandemic before the authorities relaxed them.

They will qualify for the AFCON in Cameroon with victory on Saturday.

They have seven points from four matches, a point

behind qualifying group leaders Nigeria.

TODAY Guinea v Mali S’Sudan v Malawi Uganda v B’Faso Sao Tome v Sudan Rwanda v Mozambique Ethiopia v Madagascar

Benin Republic Squirrels offering supplications to God shortly after their first full training at the Charles de Gaulle Stadium in Port Novo...yesterday

WEDNESDAY MARCH 24, ͺ͸ͺ͹˾ T H I S D AY

55

WEDNESDAYSPORTS 2022 WORLD CUP QUALIFIERS

Ronaldo’s Portugal Will Not Take Any Team for Granted as Campaign Begins Portugal coach Fernando Santos has said his side cannot afford to be complacent as they begin their World Cup qualifying campaign against Azerbaijan in Turin this evening.

The Portuguese are clear favourites to finish top of their group.

Having guided Portugal to win their first European Championship in 2016, Santos said his side had reason to believe they could go all the way in Qatar in 2022 but stressed the importance of preparing properly for their qualifiers.

“It is fundamental to

believe the dream (of winning the World Cup) is possible but if we only dream we can wake up in a nightmare,” Santos told a news conference.

“Portugal has the quality, ability and organisation to fight to win any tournament so we have to make sure we get there. It would be a tremendous mistake to take it for granted that we will get to the World Cup before starting qualifying.

“The players always have an enormous amount of motivation when they represent the national team and at this stage

their motivation cannot b e a n y l e s s . We on l y h a v e e i g h t games and each one is like a final.”

Portugal will visit Serbia next Saturday before heading to Luxembourg for their third qualifier in Group A, which also contains Ireland.

Santos recognised his side were expected to beat Azerbaijan, who are

ranked 108th in the world, but expected their opponents to sit deep and defend for most of the game. “ We re c o g n i s e w e ’ re favourites a g a i nst Azerbaijan but if we’re not focused, if we don’t respect the opponent as we have always done and do not show all our quality on the field, we could have

problems,” he said.

“In theory, it’s a good game for us but the points are earned on the pitch.”

The ‘home’ match against Azerbaijan was moved to the Juventus stadium, where captain Cristiano Ronaldo plays, due to some countries’ restrictions on travel to Portugal to control the spread of Covid-19.

TODAY

Portugal v Azerbaijan Serbia v Rep of Ireland Finland v Bos’Herzegovina France v Ukraine Belgium v Wales Estonia v Czech Rep Turkey v Holland Gibraltar v Norway Latvia v Montenegro Cyprus v Slovakia Malta v Russia Slovenia v Croatia

German Machine Seeking Redemption Against Iceland As Premiership stars placed on ‘working quarantine’ in camp Germany will seek redemption for November’s humiliating thrashing against Spain as Joachim Loew’s squad look to get the fans back behind them by winning their first three World Cup qualifiers.

Germany host Iceland in Duisburg on Thursday before facing Romania away on Sunday, then play North Macedonia three days later back in Duisburg.

“We want to start the European championship year with an exclamation mark and please our fans again,” Loew said after naming teenagers Jamal Musiala, 18, and Florian Wirtz, 17, in his squad.

“Our ambition and goal is to get ourselves into a good starting position with three wins.”

A fortnight ago, Loew announced he will step down, after 15 years in charge, following the European championships, due to take place from June 11-July 11.

He badly needs convincing wins to restore their fans’ faith in the Mannschaft (Machine) following November’s 6-0 rout

by Spain which handed Germany their heaviest defeat since 1931.

In the aftermath, a survey of German fans by magazine Kickershowed 89 per cent felt Loew had failed to rebuild the team since crashing out of the 2018 World Cup in the group stages.

As Germany team director Oliver Bierhoff acknowledged on Monday, the Mannschaft must “set an example” after the disgrace of the thrashing in Seville.

It is a far cry from July 2014, when Loew could seemingly do no wrong after masterminding Germany’s World Cup triumph in Brazil.

The 61-year-old is desperate to end on a high at the Euros after three lean years which have badly tarnished his glittering legacy.

The three World Cup

Joachim Loew...another chance to restore pride to the German Machine qualifiers are his last chance to look at options before naming his squad for the European championships.

He has high hopes for Bayern Munich midfielder Musiala, who has dual nationality and has opted to play senior football for Germany despite two appearances for England Under-21 last November.

Likewise, Leverkusen’s Wirtz, the youngest ever scorer in the Bundesliga, is considered a bright prospect and has also been called up by Loew for the first time.

The head coach wants to see his players working hard in training to win starting places for Germany.

“We want to see in the training sessions and matches which players are imposing themselves, who definitely wants to be there,” said Loew.

He has been able to call up five Premier League players after Germany relaxed some of the Covid-19 travel restrictions at the weekend.

Nevertheless, Manchester City midfielder Ilkay Gundogan, Chelsea trio Kai Havertz, Timo Werner and Antonio Ruediger plus Arsenal goalkeeper Bernd Leno will be placed in a ‘working quarantine’ within the Germany camp.

Loew is also refusing to reverse his 2019 decision to end the international careers of Thomas Mueller, Mats Hummels and Jerome Boateng.

Mueller is in arguably the form of his career with four assists in as many Bundesliga games.

Portugal’s superstar forward, Cristiano Ronaldo (centre), showing his national teammates some of the tricks that make him stand out ahead of their clash with Azerbaijan in Turin...tonight

Gerrard Surprised Southgate Axed Alexander-Arnold from Three Lions Steven Gerrard has said he was surprised by England coach Gareth Southgate’s decision to drop Trent Alexander-Arnold from the squad for their World Cup qualifiers and described the Liverpool defender as the “best English right back in the country”.

Alexander-Arnold was left out of Southgate’s 26man squad last week for this month’s 2022 World Cup qualifying matches against San Marino, Albania and Poland.

The 22-year-old has been a regular in the England squad since breaking into the side ahead of the 2018 World Cup but Southgate

said his form had cost him his spot.

Southgate has an abundance of options at right back and named Manchester City’s Kyle Walker, Atletico Madrid’s Kieran Trippier and Chelsea’s Reece James for the upcoming games.

Rangers manager Gerrard, who spent 17 seasons at Liverpool as a player, said the defender needed support to get him back on track.

“I think Trent is the best English right back in the country,” former England midfielder Gerrard told British media yesterday.

“One thing I’ve learnt

from being a player is you can’t always be 10 out of 10. When you do come off, you need that support, love and attention from your manager more than anyone else.

“So I was surprised by the decision but that’s my opinion and my opinion is not important in this.

Gareth Southgate makes the decisions there. I don’t necessarily agree with that decision, but I’m not the England manager.”

England host San Marino on Thursday before playing away against Albania on Sunday and Trent Alexander-Arnold... at home against Poland deserves a place in Three Lions on March 31.

Ogunbote Looks to Add Experienced Players from Transfer Window Sunshine Stars Head Coach, Gbenga Ogunbote, has admitted that his team needs more experienced players as the midseason transfer window opens in the Nigeria Professional Football League (NPFL).

A 55th-minute goal by Samson Obi earned Enyimba a 1-0 win over Sunshine Stars on Monday, and the result plunged the Owena Whales to a new low of ten league matches without a win - the club’s worst run in the topflight history.

Ogunbote, who is enduring

a torrid start to his second stint as the club’s head coach, had on repeated occasions acknowledged the not too impressive quality of players in his team while hoping for some business during the mid season.

And speaking after the defeat to eight-time league champions in Agege, the former Lobi Stars head coach further did little to downplay the need for transfers.

“One thing is normal when you play five or six games without a win, your confidence level must drop. And you can

see our team is not a mature team that can soak such pressure.

“But it is not all over yet. All we need to do is to salvage the team to maintain our status in the NPFL, and if we have to do that we need about six quality players.

“There are no two ways about this. The team needs to be beefed up. That is just the gospel truth.

We should not be expecting transfers this mid season, it is mandatory.

“We are not a bad side but we still need a few quality players

to join us,” he told www.npfl.ng.

The Akure-based club was recently directed to play two home games in Lagos which started with the home game against Enyimba.

But Ogunbote refused to reference this as a disadvantage, “We should be ready to play anywhere. All we just need is a level playing ground like we have seen today (against Enyimba),” he said.

The Owena Whales will next face Rivers United in a Matchday 18 fixture in Port Harcourt.

Wednesday March 24, 2021

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MISSILE

Fayose to Buhari “The president should rather make himself available to Nigerians who can help solve our unending financial and security challenges amongst others.

Above all, I wish the president knows how disappointed Nigerians are about him and his failed promises” – Former Ekiti State Governor, Mr. Ayodele Fayose asking President Buhari to focus on tackling security challenges instead of receiving political defectors.

KAYODEKOMOLAFE THE HORIZON

kayode.komolafe@thisdaylive.com

0805 500 1974

Crimes Have No Ethnicity T

he warning issued by the governor of Ondo State, Arakunrin Oluwarotimi Akeredolu, on Monday to separatist agitators to stay away from his state should be put squarely in the context of the present crisis of insecurity and the mismanagement of Nigeria’s diversity.

What the governor has done with the full authority of his office is to give leadership; it is a cardinal function of leadership to point to the right direction. This function is even more crucial in times of crisis. Some governors in the southeast have had cause to distance their respective governments from the separatists who are active in their zone.

Akeredolu’s statement is the type that the perceptive members of the elite should be making at this moment if anarchy is to be averted in the present unfortunate circumstance. There is no state in Nigeria where a referendum has been held giving anyone the mandate to proclaim secession.

In the statement immensely imbued with clarity of purpose, Akeredolu makes a distinction between fighting insecurity and pushing for separation from Nigeria, which is the agenda of some ethnic champions.

According to the governor, the forestry laws of Ondo state would be enforced and modernised livestock production would be encouraged in the state by participating in the National Livestock Transformation Programme. These are clearly among the governance duties that the governor was elected to perform.

Akeredolu said, however, that the state would not be a haven for those who have reduced the otherwise legitimate clamour for self-determination to “unthinking rabble rousing.”

To be sure, the wave of insecurity in the country is scarily rising. It is also a fact that insecurity bedevils all parts of the country at varying degrees.

However, the Nigerian state has failed to demonstrate competence in performing the constitutional duty of keeping the nation secure. It

Akeredolu is even more ominous when it is being predicted that insecurity would eventually lead to the disintegration of Nigeria. The attack on the convoy of Governor Samuel Ortom of Benue state last week was a chilling reminder that the ungoverned spaces might be more than what has been reported. Ortom who narrowly missed assassination said yesterday after meeting President Muhammadu Buhari that Nigeria “is sitting on a keg of gun powder.”

From Katsina came the announcement by Governor Aminu Bello Masari that the northwest governors have also asked the criminals occupying the forests in the zone to quit those areas already turned into dens of banditry. This might not be unconnected with the resolve of the federal government to unleash full military assault on the bandits who have ruled the forests for years. It is better late than never, you might say, especially in the light of the opposition from Abuja to Akeredolu’s moves to clear the Ondo state forests of trespassers a few weeks ago.

In a way, the separatists are products of the

acute systemic contradictions arising from the collapse of governance, social injustice and the climate of insecurity enveloping the nation.

The nation is still in search for solution.

It is, however, astonishing that a section of the elite including public intellectuals and professionals now find inspiration from emergent populists, anarchists and opportunists, who could hardly articulate their professed cause. This ideological bankruptcy is certainly part of the problem.

Instead of offering ideas and workable solutions to problems, crimes are simply given ethnic labels.

So rather than tackle crimes, the ethnic group of the criminal becomes the target. Yet ethnic profiling remains a highly pernicious trend. This trend is unfortunately unrestrained. One self-styled ethnic campion makes a statement claiming to have expelled some Nigerians from his “republic” which exists only in a video. He takes another dangerous step by asking members of his ethnic group living elsewhere in the country to return “home.” The following week the opposite number of this “warrior” in another region makes his own counter-order of expulsion against some other Nigerians. And the nonsense continues to the applause of some otherwise discerning elements of the elite. The public sphere is suffused with such reckless statements and irresponsible counter-statements. But the common goal of these characters is to divide the country. This tendency can only set the nation on the path of anarchy.

Besides, the tendency is hugely diversionary.

Once ethnic separation is posed as the solution, the real problem which is actually poor governance is pushed to the background of discussion.

The focus at present is only on the centre. Hence other tiers - state and local governments - are not adequately held accountable.

Questions are no more asked about the sordid state of public primary schools in the states. Why ask such probing questions when you can blame the “domination” by another ethnic group? Instead of rigorous discussions

about how governments could meet the basic needs of the people, the woes of a section are blamed on the other. Some members of the elite elite sow the seeds of these destructive trends, perhaps unwittingly. For instance, Monday, March 21, was the international day devoted to reflect on water. Water is a basic issue of development in every part of Nigeria. Millions of Nigeria have no ready access to potable water. An ecological factor implicated in the farmers/herders conflicts (as distinguished from pure criminality of bandits and kidnappers) is the increasing scarcity of water.

However, the topic of water scarcity would hardly hit the headlines the same way ethnic profiling would do inflammatorily. Water is no hot topic for pundits!

What is called insecurity is obviously the cumulative effects of the activities of criminals – terrorists, bandits, kidnappers, armed robbers, ritual killers, rapists etc. These criminals belong to the various ethnic groups in Nigeria. Their victims are also members of the different ethnic and religious groups that make up the country.

But the crimes have no ethnicity. It is simply illogical to blame a whole ethnic group for the acts of a few criminals belonging to the group.

So a solution laden with ethnic prejudice is not appropriate for the problem of insecurity given the reality of socio-economic and political existence in the country.

Policing should be redesigned as suggested in many respected quarters to check crimes.

The judicial system should be strengthened to punish the criminals.

In sum, a break-up of Nigeria is never the answer to insecurity. Pressures should rather be mounted on the leadership to keep Nigeria secure.

The Buhari administration should promote national unity using the instruments of competent governance in delivering public goods, accountability and social justice. When that is done, the separatists would have no situation to exploit for their diversionary and opportunistic purposes.

MAGNUSONYIBE GUEST COLUMNIST

What are Retired Bank CEOs Doing Now?

P

art of the legacy of Sanusi Lamido Sanusi as the Governor of the Central Bank of Nigeria (CBN) (2009 -2014) is the introduction of Good Corporate Governance policy stipulating 10 years only as the maximum tenure for bank Managing Directors. Ostensibly, it was set up as a guarantee against self perpetuation by bank Managing Directors, some of whom were also founders of banks after the CBN (under the watch of Chukwuma Soludo as governor) opened up the banking industry for more private sector investments and consolidation in 2004.

Apart from the likes of Jim Ovia of Zenith Bank, and Tony Elumelu, UBA who also doubled as majority owners of equity in the banks that they founded, and therefore returned to assume the chairmanship positions after hibernation for about five years, the former Chief Executive Officer of IBTC, Atedo Peterside, started a private airplane

leasing company ANAP- Jets and ex Access Bank MD/CEO, Aigboje lmokhuede, became the Chairman of WAPIC insurance -a subsidiary of Access Bank as well engage himself in the activities of some international academic and climate change focused organisations.

Femi Akinfenwa, former MD of Skye Bank also swept off by the Sanusi’s Good Corporate Governance tsunami had migrated to oil/ gas sector as the MD of Femi Otedola’s Forte Oil. Unlike the others, UBA’s Philip Oduoza (who took over the reins of leadership from Elumelu, has set up Nova Merchant Bank as he completed his 10 years tenure as MD. Likewise for the immediate past GMD of Zenith Bank, Peter Amangbo (who succeeded the current CBN governor Godwin Emefiele) and has also set up a bank-Globusbank where he serves in the role of chairman, after retirement.

Emeka Emuwa had also recently exited Union

Bank where he had served as MD since 2012. But he might be in hibernation as his whereabouts or what he is doing in or outside the financial services sector is currently not in the public domain.

The most recent retired MD of a bank is Nnamdi Okonkwo, formerly the CEO of Fidelity Bank. He is currently in hibernation too-taking a deserved break.

Would he also set up a bank as Oduoza and Amangbo have done, or would he make a foray into a related sector such as the Fintech business, as a former deputy CBN governor and former Wema Bank MD, Tunde Lemo did by setting up Flutterwave, the wave making money transfer platform? Recently, the services of Flutterwave got suspended by the CBN as part of the apex financial institutions strategy to cut off the source of funding to #EndSARS youth protesters last October. But it is back in business now as a unicorn-$1b by valuation-having raised series

C capital of $170m.

GTBank’s MD/CEO, Segun Agbaje is due to go into retirement in a couple of months-June specifically-pre retirement leave starts this month.

He is already a board member of PepsiCo. Would he also remain in the financial services sector or would he pivot into the real sector -manufacturing and production of goods instead of remaining in the services where he was as a banker?

The first founder and Chief Executive Officer of a bank to hand over the reins of leadership to his co-founder, Tayo Aderinokun of blessed memory is Fola Adeola.

He made a clean break from the banking sector by not becoming the chairman. Rather he went into other areas of endeavours.

NOTE: This piece continues in the online edition on www.thisdayliive.com

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