MONDAY 29TH MARCH 2021 by THISDAY Newspapers Ltd

NNPC Reduces Cash-call Debts to IOCs by $3.11bn FG, labour to meet mid-April on petrol pricing Onyebuchi Ezigbo, Emmanuel Addeh in Abuja and Peter Uzoho in Lagos The Nigerian National Petroleum Corporation

(NNPC) has so far paid a total of $3.118 billion cash-call debts owed the five major international oil companies (IOCs), leaving an outstanding debt of $1.570, according to

statistics released by the corporation. The statistics showed that NNPC funded its Joint Venture (JV) oil and gas assets as well as its priority projects to the

Tanker drivers threaten strike

tune of N112.14 billion in February. This is coming as the federal government and the organised labour will reconvene by the middle of April for their

negotiations to finalise decision on the adjustment of petrol price and electricity tariff. However, tanker drivers, under the aegis of Petroleum Tanker Drivers (PTD), have

threatened to withdraw services of their members if the Nigerian Association of Road Transport Owners Continued on page 9

CBN to Leverage Opportunities in ICT for Economic Growth... Page 8 Monday 29 March, 2021 Vol 26. No 9486. Price: N250

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Three Months After, Katsina, Kaduna, Niger Battle to Rescue 109 Abductees Sokoto LG chairman, others take refuge in Niger Republic CAN urges FG to free RCCG members Onyebuchi Ezigbo in Abuja, John Shiklam in Kaduna and Francis Sardauna in Katsina The governments of Katsina, Kaduna and Niger States have intensified efforts to free 109 abductees still in captivity, about three months after their abductions, investigation by THISDAY has shown. THISDAY also gathered

that prominent residents of Illela town in Sokoto State, including a local government chairman in the area, have resorted to sleeping at Ikonni town in Niger Republic every night to escape abduction by bandits. In Katsina, THISDAY learnt that 27 persons kidnapped Continued on page 9

Ohanaeze Restates Case for Igbo Presidency in 2023 Mandates Obiozor to liaise with others to realise dream Amby Uneze in Owerri The Ohanaeze Ndigbo at the weekend made a fresh pitch for a president of Igbo extraction in 2023. The main socio-cultural group of Ndigbo, rising from a meeting of its Elders’ Council in Owerri, the Imo State capital, also insisted on

the restructuring of the country to ensure fairness, equity and harmonious co-existence. The council, under the leadership of Prof. George Obiozor, in a communiqué, mandated the group’s President-General to collaborate with other stakeholders to Continued on page 50

VISIT TO ROYALTY... L-R: National Leader, All Progressives Congress, Senator Bola Tinubu; Emir of Kano, Alhaji Aminu Ado Bayero; and Kano State Governor, Dr. Abdullahi Ganduje, during Tinubu’s courtesy visit to Bayero in Kano…yesterday

Buhari, Lawan, Gbajabiamila, Others Eulogise Tinubu at 69...Page 5

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NEWS

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

Buhari, Lawan, Gbajabiamila, Others Eulogise Tinubu at 69

Deji Elumoye, Adedayo Akinwale, Udora Orizu in Abuja and Segun James in Lagos President Muhammadu Buhari yesterday led dignitaries, including President of the Senate, Dr. Ahmad Lawan; Speaker of the House of Representatives, Hon. Femi Gbajabiamila; Lagos State Governor, Mr. Babajide SanwoOlu, Ekiti State Governor, Dr. Kayode Fayemi, and his Ogun State counterpart, Prince Dapo Abiodun, to shower encomia on one of the leaders of the All Progressives Congress (APC), Senator Bola Tinubu, on occasion of his 69th birthday today. The president, in a message by his media adviser, Mr. Femi Adesina, joined the ruling APC and its teeming members in congratulating Tinubu on his 69th birthday, describing him as not only a patriot but also a statesman. Buhari said he shared the joyous occasion with the former governor of Lagos State, whose acumen and influence continue to resonate round the country and beyond. He rejoiced with the “patriot and statesman” on the 12th colloquium, an intellectual gathering to commemorate his birthday, that had over the years turned into a veritable opportunity for discussing topical national issues and harnessing ideas to grow Nigeria. On the theme of the 12th Bola Tinubu Colloquium: “Our Common Bond, Our Common Wealth: Imperative of National Cohesion for Growth and Prosperity,’’ the president said the topic highlighted loyalty to the country and the shared vision that would bring harmony and well-being to everyone. He added that the topic is most timely and reflected Tinubu’s patriotism and benevolence. He stated that the Tinubu had inspired many leaders and continued to nurture talents for the benefit of the country, while acknowledging his role in the stability of the APC, and advocating good governance. Buhari rejoiced with family, friends and political associates of the politician, praying that God will grant him longer life, good health and more wisdom. Lawan, in his goodwill message, joined Tinubu’s family members, friends and political in rejoicing with him. He described Tinubu as “a leader of leaders, political strategist and astute administrator.” He said Tinubu had in three decades of active roles in the politics of Nigeria impacted many lives and contributed to improving the polity. "His achievements and the development foundations he laid in Lagos as the first elected governor of the state in the Fourth Republic have secured

his place in the history of the state. That is the reason he has continued to loom large on the political stage 14 years after he last held a political office. "The Jagaban of Borgu is also a founding father of our great party, the APC, and has been consistent alongside our other leaders in guiding the ruling party along a progressive path for the growth of our democracy and the development of our nation,” Lawan added. Gbajabiamila, in celebrating Tinubu, said he had been living a fulfilled life worthy of emulation by all. He added that he has left his marks on the development of Lagos State and Nigeria. The speaker described the celebrator as a foremost democrat, whose doggedness, determination and commitment alongside other patriots made it possible for the entrenchment and deepening of democracy in Nigeria. "Despite his achievements in life, the great Asiwaju does not blow his trumpet and remains unassuming, which is his hallmark. For those of us that come from his “school”, we know that he stands for justice and fairness for all. His presence in our political space is more than a blessing to us all. I make bold to say that our current crop of politicians have a lot to learn and gain from the Asiwaju,” he stated. In congratulating Tinubu, Sanwo-Olu, in a statement by his Chief Press Secretary, Mr. Gboyega Akosile, described him as a visionary leader and a mentor with exceptional abilities in various areas of human endeavours. He called him a political pathfinder, nationalist and detribalised Nigerian, who has contributed to the sociopolitical and economic growth of Lagos State and Nigeria. Sanwo-Olu said Tinubu was “a major stabilising factor for Nigeria’s current democratic dispensation”, adding that the former governor left with impeccable records in Lagos State after setting the right template for economic growth and political stability. He stated: “As pathfinder, Asiwaju charted the developmental trajectory of modern Lagos, raising the bar of governance and public service in the State and indeed, Nigeria. "A cheerful giver who cares about the welfare of the people, Asiwaju personifies tolerance and humanity. "The story of Nigeria's democracy cannot be told without the name of the Jagaban Borgu written in gold. Thousands are today direct beneficiaries of his political benevolence.” On his part, Fayemi, in a congratulatory message by his Chief Press Secretary, Mr. Yinka Oyebode, in AdoEkiti, described the former Lagos State governor as a distinguished Nigerian and

a leader who is courageous, reliable, dependable and passionate. The governor described Tinubu as a statesman with an uncommon political sagacity and generosity of spirit, two of the qualities he said made the APC leader stood out as one of the leading lights of progressive politics in the country. “Asiwaju Tinubu’s ability to identify, nurture and engage talents is unequalled. His life has been a testimony of human capital development in an unrelenting struggle for a better life for the people,” he said. Abiodun, in a statement yesterday by his Chief Press Secretary, Mr. Kunle Somorin, described Tinubu as an exemplar, icon of democracy and true elder statesman. He stated that Tinubu's giant strides in business, politics and governance, have stood him out among his contemporaries in the country. While noting that the former Lagos State governor had laid solid foundation for continuity of good governance

in Lagos, Abiodun added that Tinubu, through his political astuteness, has ensured that the South-west and Nigeria benefit from the progressive politics of the APC. He expressed his joy that Tinubu is waxing stronger in spreading the gospel of progressive politics throughout Nigeria. "Your towering accomplishments, from the corporate world to being senator of the Federal Republic, representing Lagos West to being elected twice as governor and as the only governor standing during the 2003 tsunami are testimonies of a political icon. "Like phoenix, you are uncowed as the undisputable vanguard of progressive politics, irrepressible statesman and an icon whose unconditional service and time-tested leadership inspire hope in us. "For your exceptional skills at political engineering, altruistic leadership and unwavering commitment to ethical democracy, we are very proud of you and

would continue to cherish your heritage of responsible statesmanship. "At 69, it is our prayer that God Almighty will grant you more grace of many more years in the service of humanity and our fatherland in excellent health, limitless resourcefulness and with renewed vigour to better all your previous records combined," he said. On its part, APC also described Tinubu as a man of excellence and a true democrat. The Chairman of the Caretaker/Extraordinary Convention Planning Committee of the party and the Governor of Yobe State, Mai Mala Buni, in a statement yesterday said Tinubu had dedicated his life to the service of humanity, promotion of good governance, growth and development of democracy in Nigeria. He added: "As a leader, Asiwaju Bola Ahmed Tinubu is passionate about the future of the people, as a developmental democrat, he is a proponent of due process and rule of law."

Buni said Tinubu’s humble and humane disposition made him a great philanthropist, adding that the APC family is proud of his achievements. The Southern Senators Forum also felicitated with Tinubu on his 69th birthday. The forum described Tinubu as a politician with penchant for distinction in leadership and unshaken proponent of culture of role modelling of younger generations on populist governance that can benefit the masses. The Chairman of the forum and the lawmaker representing Ekiti Central Senatorial District, Senator Opeyemi Bamidele, in a message yesterday, said Nigerians had acknowledged the outstanding roles played by the statesman to stabilise the politics of the country as distinguished opposition leader since 2003. The forum said Tinubu also played a strategic role in the consummation of the APC in 2013 through the amalgam of regional parties to rescue the nation from sliding into a failed state, which culminated in the Buhari presidency.

REPOSITIONING SOUTH-EAST... Imo State Governor, Senator Hope Uzodimma (left), and President-General, Ohanaeze Ndigbo Worldwide, Prof. George Obiozor, during a meeting of the organisation's elders in Owerri...weekend

Resident Doctors May Begin Strike Wednesday Onyebuchi Ezigbo in Abuja Barring any change in their resolution, the Nigerian Association of Resident Doctors (NARD) may commence industrial action on Wednesday over what they described as the poor welfare of their members across the country. In a communique issued at the end of the extraordinary National Executive Council (NEC) meeting of NARD held on March 27, 2021, at the Trauma Centre, National Hospital, Abuja, the resident doctors said their ultimatum given to federal government at the January NEC meeting

in Owerri, Imo State capital will expire by midnight on March 31, 2021, with no significant response from the authorities. In the communiqué jointly signed by NARD President, Dr. Uyilawa Okuaihesyi, and Secretary-General, Dr. Jerry Isogwu, the doctors lamented the suffering of some of their members in the GIFMIS platform who have not been paid salaries for four months now due to a delay in biometric capturing by the IPPIS department. They further lamented the alleged inhumane treatment being meted on members in some state tertiary

institutions like Abia State University Teaching Hospitals (ABSUTH), which owed some of their members 20 months’ salaries; Imo State University Teaching Hospitals (IMSUTH), five months’ salaries; and the University of Maiduguri Teaching Hospitals (UNIMEDTH), three months’ salaries. It said the meeting deliberated on burning issues affecting Residency Training, Healthcare Delivery and the Welfare of its members across the country. “The NEC observed that her earlier ultimatum given to the federal government during the January 2021

NEC meeting in Owerri, will expire by 12 midnight on March 31, 2021 with no significant achievement. "The NEC reiterated her full support for the central placement of house officers. Nevertheless, they decried the agony our members have been made to pass through for three months now without salaries despite uninterrupted service delivery to the nation. This is due to the inefficiency of the Registrar of MDCN in handling the processes of the central placement of house officers as approved by the Federal Executive Council (FEC) since 2017".

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CBN to Leverage Opportunities in ICT for Economic Growth

Arinze Gideon in Enugu

The Governor of the Central Bank of Nigeria (CBN), Mr. Godwin Emefiele, has said that the apex bank is ready to invest in the Information and Communication Technology (ICT) sector in order to stimulate economic growth and development. Emefiele said the sector emerged as a significant source of resilience in mitigating the impact of COVID-19 on the economy, by contributing over 17.8 per cent to the GDP growth by the end of 2020. He spoke during the weekend at the CBN Special Day at the 32nd Enugu International Trade Fair with the theme: ‘Promoting new technologies, business ideas and strategies for rapid economic growth and development in Nigeria’. Emefiele, represented by the CBN’s Acting Director, Corporate Communications, Mr. Osita Nwanisobi, said the growth of startups in the fintech and health care space rose in response to the COVID-19 pandemic. According to him, the CBN is pushing other banks to consider viable IT firms that have the potential to not only serve the needs of the local market but can export ICR-related services to other

countries . "With the ICT startups emerging to support SMEs, farmers and providing quality learning to students, it is important that we continue to leverage ICT as an enabler for growth in key sectors of the economy" he added. Nwanisobi stated that the CBN has made efforts to restore stability to the economy by aiding households and businesses affected by the pandemic following the COVID-19 pandemic. He said the bank had reduced the interest rate on its intervention loans from nine to five per cent and created a N150 billion targeted credit facility for affected households and small and medium enterprises through the NIRSAL Microfinance Bank. "We have since decided to double this fund to about N300 billion to accommodate many more beneficiaries and boost consumer expenditure which should positively impact output growth," he said. He added that the bank has established a N1 trillion facility in loans to boost local manufacturing and production across critical sectors. Earlier in his address, President of Enugu Chamber

of Commerce, Mines and Agricultural, Mr. Emeka Nwandu, commended the CBN and the Bankers' Committee for their efforts

in ensuring that affordable credit facilities are made available to the SMEs. He, however, expressed worries with the process

of disbursement, which he said had become slow since the second quarter of 2020. "This would not in any way support the objectives of

the scheme. Efforts should be made to ensure that qualified SME operators that apply for the loan get it at record time," he added.

FAREWELL... Nigeria’s Ambassador to the Netherlands, Dr. Eniola Ajayi (left), and President of Serbia, Mr. Aleksandar Vucic, during the ambassador’s farewell visit to the president in Belgrade…weekend

Pension Assets Drop to N12.3tn on Job Losses, Low-yield Investments Obinna Chima and Nume Ekeghe The total value of pension assets in the country dropped by N77 billion to N12.299 trillion as of January 31, 2021, compared with the N12.306 trillion it was as of December 31, 2020. The National Pension Commission (PenCom), in its latest monthly report on the pension fund portfolio obtained on its website yesterday, put the total amount of the pension funds invested in FGN Securities in January at

N8.107 trillion, compared with the N8.131 trillion recorded in December. The amount invested in corporate debt securities in the review period stood at N836 billion, same as the previous month. The report showed that while a total of N1.687 trillion of the pension fund was invested in local money market securities in December, it reduced to N1.647 trillion in January; while the amount invested by the Pension Fund Administrators (PFAs) in mutual funds was raised to a total of N162.090 billion in

January, higher than a total of N161.392 billion recorded the previous month. The report showed that total Retired Savings Account (RSA) registered as at January 31 was 9,236,841, slightly higher than the 9,215,788 it was the previous month. Reacting to the drop in pension assets, analysts said the decline was as a result of the increase in unemployment rate as well as the low yields environment. However, they stated that the economy was on a recovery path, and the

trend would soon change. In an interview with THISDAY, the Head Research, United Capital, Mr. Wale Olusi, said: “If you go by the unemployment figures and the impact of the pandemic from last year and reduction in the numbers of new entrants into the job market, salary cuts and the number of job losses may be obvious factor to consider. “If the economy recovers fully, and fresh school leavers get jobs, experienced workers get promoted, the number should rebound. I don’t think the decline

should continue.” On her part, the Head, Fund and Investment Manager Ratings, Agusto &Co, Wonuola KunleBello, said: “The lower contributions are reflective of the impact of the pandemic on Nigeria’s labour market. In the past year, there have been significant layoffs and salary reductions as businesses shuttered and the economic impact of the virus hit. There have also been lower than usual first-time employments than pre-COVID years. “It’s unlikely that the decline will continue as

we expect businesses and the economy at large to continue on a path to recovery, which will mean higher employee levels albeit marginal increment and consequently higher contributions.” However, a top official in a leading PFA who pleaded to remain anonymous said the returns on investments during the period of record was a major factor. But he added that with the investment climate, especially with the government securities pricing better, the trend would change.

Kyari Leads Police Investigation into Attack on Ortom IG mandates new squad to take over investigations Kingsley Nwezeh in Abuja The Inspector-General of Police, Mr. Mohammed Adamu, at the weekend ordered the deployment of a special investigation task force, headed by a crack detective, Mr. Abba Kyari, a Deputy Commissioner of Police, to investigate the assassination attempt on Benue State Governor, Dr. Samuel Ortom. A statement by Force Public Relations Officer, Frank Mba, a Commissioner of Police, said the team was already in Makurdi, the state capital, to commence investigation into the

assassination attempt on the governor. Gunmen, suspected to be herdsmen, had last Saturday attacked Ortom while returning from his farm on the outskirts of Makurdi. A group, which identified itself as Fulani Nationality Movement (FUNAM), had claimed responsibility for the attack. Ortom last week submitted a petition to the IG at the Force Headquarters, Abuja, urging Adamu to investigate the attack. He had also requested that his security details be overhauled.

The statement said: "A special investigation task force set up by the IG in furtherance of the ongoing investigation into the reported attack and attempted murder of the Benue State governor was already in Makurdi, the state capital, to commence investigation. "The team, led by DCP Abba Kyari, a no-nonsense investigator, consists of operatives from the Tactical Investigation Units of the Force Intelligence Bureau (FIB) and other experienced, crack detectives with specialised competencies in crime scene investigation

and reconstruction, ballistics, fingerprint analysis and other core areas of forensics". The IG had earlier ordered the deployment of an investigative team headed by Deputy Inspector-General of Police (DIG), Mr. Tijani Baba, to conduct the investigation. But the police high command, in the statement, said "the team is expected to take over and consolidate all ongoing investigation into the incident. "The team is also expected to investigate all angles of the reported attack with a view to ensuring that all persons empirically linked to the incident are apprehended

and brought to book." The IG charged the team to be professional, thorough and clinical in their investigations. "They are expected to liaise and work with the Benue State Police Command and other relevant members of the law enforcement community to ensure that they deliver on their mandate. The assassination bid had sparked national outrage that underscored the grim security situation in the country. Benue State has also become a target of attacks by rampaging herdsmen,

whom some years back killed over 200 people. Former governors of the state, Senator George Akume and Senator Gabriel Suswam were also attacked by gunmen during their tenures. Ortom has been vocal in the criticism of open grazing by herdsmen in the state to which he signed an anti-open grazing bill passed by the state legislature. He had also recently had a face-off with the Bauchi State Governor, Senator Bala Mohammed, over the Bauchi governor’s claim that Fulani herdsmen carried AK-47 rifle for self-defence.

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PAGE NINE THREE MONTHS AFTER, KATSINA, KADUNA, NIGER BATTLE TO RESCUE 109 ABDUCTEES by bandits in farming communities of Faskari, Sabuwa, Safana and Bakori Local Government Areas of the state were still in kidnappers’ den. On March 7, 2021, bandits, numbering about 10, and armed with AK-47 rifles, stormed Jargaba village in Bakori LGA where they killed a businessman, Alhaji Ibrahim Kwatahi, and abducted his two children and one other person. Alhough, the state police command had arrested one Idi Tinau of Jargaba village and Bara'u Dauda of Gandun Karfi village in Malumfashi LGA in connection with the killing and recovered two AK-47 rifles but the three captives were yet to be released by their abductors. Similarly, on March 9, bandits invaded Katsalle village in Sabuwa LGA where they reportedly kidnapped 50 women and children. However, 39 of the victims regained freedom but 11 are still being held in the bandits' enclave, it was learnt at the weekend. Also, the hoodlums on March 16 launched another onslaught on Kunamawa and Tirkawa villages in Safana LGA, killing many residents and kidnapping seven others who are yet to be released. On March 26, bandits who rode on motorcycles, attacked Kadisau village in Faskari LGA, and killed five women and kidnapped six others who were also yet to regain freedom as at press time. However, the state Governor, Hon. Aminu Bello Masari, in an interview with THISDAY recently, admitted that kidnapping for ransom has become a daily occurrence in the state, particularly in Faskari and Sabuwa LGAs. He noted that few villages in the two local government areas were facing frequent invasions by the bandits, adding however, that their

atrocities would not deter his government from restoring peace and normalcy in the affected areas. He said: "Faskari in particular and to some extent Sabuwa local governments have been under persistent attacks by bandits but I don't think the number of villages or communities affected are up to 20." In Niger State, no fewer than 130 victims were kidnapped by bandits from various communities in Niger State in the past four months and the whereabouts of at least 38 persons of the reported kidnap cases have remained unknown. An official of the Niger State Emergency Management Agency, who spoke on condition of anonymity as he was not officially permitted to speak on the issue, told THISDAY that the number of kidnapped victims during the said period "was higher if we add the Kagara school abduction and those of the NSTA.” A total of 92 persons were kidnapped in the two incidents but were rescued by the government. THISDAY investigations showed that the most of the kidnap victims in the state were abducted from Rafi, Shiroro, Lapai, Munya LGAs between December 2020 and March 2021. Prominent among the abductees is the District Head of Yakila in Rafi Local Government Area, Alhaji Ibrahim Abdulhamid who was taken into captivity from his palace along with three others last December. Though the three others kidnapped along with the district head, among them a staff nurse, were released after unspecified amount of ransom was paid, the kidnappers have continued to hold on to Abdulhamid. Investigation revealed that the subjects of the district head even contributed about N5

million, which they took to the bandits in the forest. "The bandits collected the N5 million and the telephone set used to make contact with them and said we should never come there again. "Since then we have not been able to make contact with the bandits or the district head," a source, who is a top traditional title holder in the area, told THISDAY. He added that the community had concluded that "our district head has been killed and we want to hold a funeral prayer for him so that we can appoint a new district head." It was also gathered that out of the 18 travellers in three commercial vehicles travelling between Tegina and Kagara who were kidnapped about a month ago, only one of them has regained freedom after paying N1.5 million as ransom. THISDAY gathered that others were still being held because their family members could not raise the ransom. Some of the kidnap cases which victims cannot be confirmed to have been released include the abduction of 26 people, mostly women, near Government Technical College Pandogari; the abduction of 15 persons also at Pandogari and Gurmana, the abduction of eight people at Kusherki and 40 others picked from Kurebe Babangida Sarai and Rafin Kanya. THISDAY, however, learnt that the children of the Ward Chairman of the All Progressives Congress (APC), Akiratu, Mr. Sani Kaka Danladi, who were kidnapped from their Bugiko village were rescued three days after the incident. A combined team of local security men and the police facilitated their rescue from the forest and also arrested two of the bandits. A family source told THISDAY that no ransom was paid.

In Kaduna State, at least a total 125 were abducted from January to March 27, 2021 and 47 have remained in captivity. The figure include the recently abducted 39 students of the Federal College of Forestry Mechanisation, Afaka, Kaduna who are still in captivity as well as the eight members of Redeemed Christian Church of God (RCCG), who were reported to have been abducted along the Kaduna-Kachia road at the weekend. The figure was collated from the daily security update by the Kaduna State Government and independent sources. It is believed that the number of abducted victims could be much higher than 125 as many incidents were unreported. Also, the daily security update, in some cases, did not give specific number of people abducted. Many families were said to have been impoverished by the activities of bandits as they had to sell their belongings, including farm produce, to raise the ransom. Some communities, especially, in the worst affected areas, like Birnin Gwari, Chikun, Kajuru, Giwa and Igabi LGAs of the state were said to have been sacked by the bandits.

Sokoto LG Chairman, Others Take Refuge in Niger Republic Prominent residents of Illela town in Sokoto State, including a local government chairman in the area, have resorted to sleeping at Ikonni town in Niger Republic every night to escape abduction by bandits. THISDAY gathered that most prominent personalities in the border town of Illela usually pass the night at Ikonni in Niger Republic. They, however, carry out their normal businesses at

Illela in the day time. A resident who gave his name as Abdullahi said the security condition at the border town of Illela remained precarious and called on the state and federal governments to intervene. "In Illela here, we are living in palpable fear because the issue of kidnapping and abduction have become so rampant,” he stated. Another resident who gave his name as Abubakar described the high level of insecurity in the area as shameful and wondered why the ‘giant of Africa’ was unable to protect its citizens. "Let me tell you, the government of President Muhammadu Buhari has failed in the area of security. Can you imagine our people are going to Niger Republic to take refuge; it means Niger Republic is safer than Nigeria,” he added. Another resident, who simply identified himself as Ibrahim, told THISDAY that banditry has crippled their businesses and made life unbearable for them . He noted that despite the presence of different security agents in the town, the bandits have operated unchallenged. He called on the government to overhaul the security architecture in the area. "Here, we have army, Customs, police, civil defence and immigration yet banditry is thriving daily,” he said. When contacted, the Sokoto State Commissioner for Security and Career Affairs, Col. Garba Moyi (rtd), described the situation as pitiable and urged the residents to provide the government and security agents with intelligent information to help tackle the menace. Moyi said the state government had done its best in combating insecurity in the state. He called on the residents not to engage the bandits since

they did not have weapons at their disposal, stressing that they should report any attack to government and security agents for prompt action. The Sokoto State Police Command Public Relations Officer, Abubakar Sanusi, an Assistant Superintendent of Police (ASP), said the police had launched Operation Puff Adder 2, as part of efforts to check banditry. He stated that the police would collaborate with other security agencies to curb the menace

the federal government side has been consulting others with a view to building a consensus on the matter. He said the federal government had been considering the report of the joint committee of representatives of the federal government and organised labour on measures to apply to moderate the fuel price template. Last week, NNPC had lamented what it described as the heavy financial burden it was being made to bear in bearing the extra cost of petrol due to the differential in the landing cost and pump price of the commodity owing to the rising cost of crude oil in the international market. It said that the current N165 pump price was no longer feasible, adding that the actual price should be N212 or above. But the source told THISDAY that the new thinking of the government was that the appropriate pricing of petrol would now be decided by the various tiers of government as represented at the National Economic Council (NEC). The source said: "The federal government has decided that the issue of subsidy should be discussed at the appropriate forum along with other tiers of government. As you know, NNPC has declared

underrecovery of funds used in importation of petrol and the money used by the corporation to source petroleum products is from the Federation Account operated by the three tiers of government. So, we intend to discuss and arrive at a consensus on the modules to be adopted before meeting with labour." While speaking on the

CAN Urges FG to Rescue Kidnapped RCCG Members The Youth Wing of the Christian Association of Nigeria (YOWICAN) has asked the federal government to hasten efforts at securing the release of members of the Redeemed Christian Church of God (RCCG) abducted by gunmen in Kaduna, Kaduna State, at the weekend. In a statement yesterday, the CAN Youth Wing said it was saddened by the kidnapping of a busload of members of RCCG. It said the victims were on their way to Kachia for evangelism when the bandits struck. "Could this be another case of religious persecution, coming after the recent kidnapping of 39 Students of College of Forestry, Afaka close to the Nigerian Defence Academy, Kaduna? "Our hearts bleeds that a busload of Christians from RCCG from Kaduna Province while they were going for a prayer work to Kafanchan was abducted on their way. The incident of kidnapping is a case too many and has bitter tastes in our mouths," it said. It said that the anti-human behaviour cannot be corrected by mere condemnation by government.

NNPC REDUCES CASH-CALL DEBTS TO IOCS BY $3.11BN (NARTO) fails to negotiate the renewal of the Collective Bargaining Agreement (CBA) for new working conditions for them. NNPC stated that while the servicing of its JV assets for the month under review cost the corporation about N95.85 billion, financing of selected projects, including its search for oil in the frontier basins, gulped N16.28 billion. In its March presentation to the Federation Account Allocation Committee (FAAC), the corporation stated that it had reduced its pre-2016 cash call arrears repayments to the International Oil companies (IOCs) to $1.57 billion as of January 31, 2021. While the negotiated JV debt owed the major five oil multinationals stood at $4.68 billion before now, the documents indicated that about $3.118 billion had been offset by the national oil company, with $1.570 still outstanding. In December 2016, the Ministry of Petroleum Resources had negotiated a discount with the IOCs, comprising Shell Petroleum Development Company (SPDC), Total Exploration and Production Nigeria (TEPNG), Mobil Producing Nigeria (MPN), Chevron Nigeria Limited (CNL) and Nigeria Agip Oil Company (NAOC)

from about $5.1 billion down to $4.6 billion and had since then continued to reduce the debt payments. Fresh information from the corporation revealed that SPDC, which was owed a negotiated debt of about $1.37 billion, had been paid $455.3 million as at the end of January, while TEPNG, which was owed $610.972 million, had got $364.6 million. NAOC to which the NNPC owed $774.66 million received $422.66 million and CNL got $1.042 billion out of its outstanding negotiated debt of $1.097 billion. It added that MPN had been fully paid its outstanding $833 million and has henceforth “reverted to base” at the time of releasing the information. As of January 31, 2021, the NNPC stated that its debt obligations to SPDC, CNL, TEPNG and NAOC respectively stood at $917.2 million, $55.4 million, $246.3 million and $351.9 million. On its JV obligations to its partners, the figures released by the NNPC showed that it recorded a deficit or variance of N107.3 billion, falling below its actual budget of N203.1 billion for the purpose in February. The NNPC also noted that through its subsidiary, the National Petroleum Investment Management

Services (NAPIMS), it spent about N16.2 billion to rehabilitate refineries, pay its monthly obligation on the Nigeria-Morocco gas pipeline and ramp up oil search in the frontier basins. It listed other projects funded with the N16.2 billion to include national domestic gas development, gas infrastructure development, renewable energy development, crude oil pre-export inspection agency expenses and pre-export financing. A breakdown of the expenses showed that the refineries gulped N8.33 billion of the amount, crude oil preexport financing received zero allocation, although N5 billion was budgeted for it, national domestic gas development was funded with N3.098 billion while gas infrastructure development took a share of N2.39 billion as against the N5 billion budgeted for it. In addition, the corporation stated that its frontier exploration services got N1.919 billion while crude oil pre-export inspection agency expenses and pre-export financing got N393 million. The NNPC, in the document, said it was ramping up its focus on renewable energy development financing, which gulped N117.1 million for the month, while N83.33 million

financing was provided for the Nigeria-Morocco pipeline. The pipeline, estimated to cost $25 billion, is expected to serve as an extension of the existing West African Gas Pipeline currently serving Benin, Togo and Ghana, as well as connect with Spain through Cádiz. NNPC’s total spending on selected infrastructure, including on gas development, renewables, refineries, however, fell short by N14.2 billion when compared with the actual budget of N30 billion for February. The Brass LNG gas supply, however, did not get any funding for the month under review.

FG, Labour to Meet Mid-April on Petrol Price Adjustment The federal government and the organised labour will reconvene their negotiations to finalise decision on appropriate pricing of petrol and electricity tariff by middle of April. THISDAY gathered that the meeting will hold before the commencement of the Ramadan. A source privy to the negotiations told THISDAY at the weekend that as part of moves to resolve the contentious issue of the appropriate pricing for petrol,

Continued on page 50

TOP GAINERS NGN NGN GUINNESS 2.70 30.00 PRESTIGE 0.04 0.45 SOVETRUST 0.02 0.24 UACN 0.70 8.70 ABCTRANS 0.02 0.28 TOP LOSERS NGN FTNCOCOA 0.05 0.46 JAIZBANK 0.06 0.59 ROYALEXCHANGE 0.02 0.24 CORONATION 0.04 0.51 AFRINSURE 0.01 0.20 HPE Nestle Nig Plc ₦1,375.00 Volume: 250.923 million shares Value: N2.790 billion Deals: 3,746 As at yesterday 28/3/2021 See details on Page 37

% 9.8 9.7 9.0 8.7 7.1 % 9.8 9.2 7.6 7.2 4.7

MONDAY MARCH 29, 2021 • T H I S D AY

T H I S D AY • MONDAY, MARCH 29, 2021

COMMENT

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

NIGERIA AND THE FOREX CRISIS

Jackson Ugbechie contends that neither the CBN nor Emefiele should be blamed for the forex dilemma

here is dollar drought in Nigeria. It has become the biggest challenge for the Central Bank of Nigeria (CBN) in recent memory. To its credit, the CBN is fully aware of this and its grim implications on the economy and the apex bank has been tinkering with different strategies to shore up dollar reserves and ultimately save the naira. Mr. Godwin Emefiele, the Governor of CBN, obviously has grown more grey hairs trying to contain the dollar scarcity. It’s important that he does so. Any time Nigeria’s forex liquidity is challenged, the economy takes a shellacking. Prices of goods jump; inflation noses up. The primary sector takes a bashing and with that comes operational losses, shuttered factories, downsizing and general economic debility. Yet, it could have been worse but for the foresight of Emefiele. In spite of the current forex dilemma, it bears restating that Emefiele had consistently warned the nation of the implication of some of our actions. He even removed over 40 items from the forex-funded list. The items include food stuff, many if not all, that could be produced locally. Food import costs Nigeria about $4.6 billion yearly despite her huge agricultural potential. This is aside other imported materials including textiles for a country that was once an exporter of textile materials and a good producer of cotton. By denying importers of those over 40 items forex, Emefiele made the naira to gain traction in the forex market. But for a moment, just imagine if the CBN Governor did not take the proactive action of excluding those items from the forex-funded list. The implication is that with the fall in crude oil prices and rising cost of imported refined petroleum products plus the bogey of Covid-19 pandemic, the Nigerian economy would have experienced more recession than it did, and worst of it all, may never have recovered from the 2016 recession. Each time Nigeria imports a product, it takes toll on the nation’s external reserve which is chiefly funded by crude oil receipts. We need no soothsayer to tell the nation that Emefiele’s courage to classify about 41 items as ‘not-for-forex funding was the masterstroke that has kept the naira still gasping for breath and the economy still panting. But for his bravery, both the naira and the larger economy would have been buried in the graveyard of the cowries. That brave policy by CBN which by hindsight, has encouraged local manufacture and production of the banned items, has also helped to begin the process of addressing the imbalance in trade between Nigeria and the West. It means that Nigeria now imports less from Britain, Asia and the entire West. The result is that Nigerians now consume locallyproduced rice, tomato puree, and relies on locally-made toothpicks among others. Little wonder The Economist and some international media spared no words to deprecate CBN and Emefiele. The Economist, for instance, was particularly disingenuous in its argument for the unbanning of the 41 items. But Emefiele stuck to his gun. The CBN ought to be lauded for its boldness to moot and implement the policy and for what Nigeria stands to gain from a policy that encourages patronage of home-made products. In the long run, the West and Asia (remember Nigeria imports much of the consumed rice from Thailand) would lose their biggest market in Africa. This explains the baleful treatise by The Economist magazine of UK to discredit the CBN policy, about two years ago. So, who really is to blame for Nigeria’s present forex dilemma? Neither the CBN, nor Emefiele. On the contrary, without the strident and consistent intervention of the CBN, it could have been worse.

OUR LIFESTYLE FORBIDS US TO BUILD FACTORIES, INVEST IN MANUFACTURING OR EVEN ENHANCE THE QUALITY OF OUR EDUCATION. OVER THE YEARS, WE HAVE SUBSIDISED A LIFESTYLE THAT IS AT BEST WASTEFUL

Truth be told, Nigerians have themselves to blame for the dollar crisis. Our lifestyles have fuelled a demand and supply disequilibrium. Nigeria’s major source of forex is crude oil. With the dip in price of crude has come a dip in supply of dollar. The Covid-19 pandemic added to the woes. The next major supply for forex comes from Diaspora remittances. Even this has been dealt a heavy blow by the pandemic. Some Nigerians overseas lost their jobs, some were furloughed while yet others suffered wage cuts and losses in their businesses. This aggregated to low remittances. Yet while forex supply shrank, there is yet no abatement in our appetite to consume foreign foods and drinks, undertake medical tourism abroad, send our wards and children to overseas schools, and in some cases, as is common among public office holders, stock up dollar in bales and stacks in our homes. This means that supply for forex is leaner than the demand for same. When this happens - due largely to our greed, penchant for exotic lifestyle – we put enormous pressure on the dollar and by extension, weaken the naira. Our lifestyle forbids us to build factories, invest in manufacturing or even enhance the quality of our education. Over the years, we have subsidised a lifestyle that is at best wasteful. Only in Nigeria do we buy up full pages in newspapers to felicitate with persons marking their birthdays; to announce death and burial; to congratulate political appointees on their ‘well deserved appointments’. Every occasion is a feast. We are the ones to spray money at parties. These days, we even spray dollar, a showy culture which we have exported offshore. Nigerians in the UK spray Pound Sterling at usually riotous parties; those in Europe the Euro, and those in America stamp on dollar bills in vulgar abuse of the greenback. It’s in moments of necessity that innovation finds its true essence. Emefiele has in recent years dug deep to ease the pressure on the naira by making sure that forex supply throughput is increased. The goal is to stabilise the forex market. The recent ‘naira-4-dollar’ policy would help improve currency inflows and external reserve, stabilise the economy and stimulate production. The thinking of CBN is that this will reduce the cost in sending remittances and ultimately boost remittance inflows into the country. Already, the policy is paying off. It has led to improved remittances from a weekly average of about $5 million to over $30 million per week. This is smart economics, and it’s all thanks to Emefiele and his team. In 2019, the World Bank ranked Nigeria as the 7th largest recipient of remittances in the world which stood at $21 billion at that time behind India, China, Egypt, et al. PricewaterhouseCoopers (PwC), also projects that Nigeria’s remittance flows could hit $34 billion in 2023. Such optimism is further bolstered by the new naira-4-dollar’ policy. It would mean a further addition to forex supply outside crude oil. Emefiele had tinkered with other smart ideas to defend the naira. Recall the currency swap deal introduced in 2018 to mitigate the liquidity challenges faced by Nigerian business people and Chinese manufacturers seeking to buy raw materials from Nigeria. Then, there was the establishment of Investors’ and Exporters’ (I&E) Window which boosted aggregate forex inflow by 45 per cent to $91 billion in 2017 compared to $62.75 billion in 2016. Yes, Nigeria is facing a forex crisis, but blame not Emefiele or CBN. Nigerians must moderate their lifestyles to save the naira. Ugbechie writes from Lagos

PORT HARCOURT REFINERY REHABILITATION

A functional refinery will have moderating effect on prices when Dangote’s own comes on stream, argues Sadou Jattu

ince last week when the Federal Executive Council (FEC) approved the sum of $1.5bn for the rehabilitation of the Port Harcourt Refinery, all hell has been practically let loose. Well-meaning Nigerians from all walks of life have been sharing their views on the issue and many of them have neither been complimentary nor supportive of the decision. A close analysis of the reactions so far shows that only the organised labour under the auspices of the Nigeria Labour Congress (NLC) and the Trade Union Congress and TUC) and a few others appear supportive of the move. The media has been largely on the side of those who believe the rehabilitation is a waste of time and resources and has valiantly tried to sway the public in that direction. A further scrutiny of the various tirades against the refinery rehabilitation project shows several strains of arguments. The first is that government and the Nigerian National Petroleum Corporation (NNPC) cannot be trusted to do a good job of the rehabilitation as they have failed over the years with the various Turn-Around Maintenance which gulped billions of dollars without getting the refineries closer to optimal functional state. The second is that the refineries are too far gone on the path of dilapidation to be effectively rehabilitated, thus any amount spent on their repairs is a waste. A slight variant of this argument is that the world is on the cusp of moving away from fossil fuels which would make any investment in the rehabilitation of refineries a waste. The third argument is that borrowing money at a time of dire economic constraints like this for fix the refineries would only dig the nation deeper into the

debt trap. Yet another argument is that the $1.5bn approved for the rehabilitation could actually build a new refinery and that it is a waste to spend it on an old refinery. There are two common threads that run through these arguments – sentiments and sensationalism. These are not new elements to any discourse on the refineries. Anyone who has been following developments in the refining sector would readily remember the loud protests that greeted the sale of the Port Harcourt Refinery by President Olusegun Obasanjo towards the end of his administration in 2007. The argument then, anchored on sentiments and propelled by sensationalism, was that our common patrimony was being sold to an individual. Ironically, most of those who were proponents of the return of the Port Harcourt Refinery to government ownership are the ones insisting now that it should be sold and not rehabilitated. What could have been responsible for the change in position? It is possible to argue that the inability of NNPC to revamp the refinery since 2008 when the sale was reversed created disenchantment and loss of confidence in their ability to maintain and operate it profitably. But that is only one side of the story that presents a short-sighted view of the whole issue. Prior to the sale of the Port Harcourt Refinery and its eventual reversal, the maintenance of the refinery had been largely badly managed due to government interference. Reversing its sales without a significant change in terms of government interference could not bring about much change in the fortunes of the refinery. This is the foundation of the trust deficit that is driving the sentiments around the recently announced plan to rehabilitate the refinery. But the situation today is not exactly the same as

it was years ago in terms of government interference, transparency and accountability. Putting the issue of government interference in perspective recently at an interactive session with journalists, the Group Managing Director of NNPC, Mallam Mele Kyari, stated that since he assumed duty, he has never been put under pressure by the President to do anything unethical. This is easily believable considering the way he has championed the transparency and accountability drive at the NNPC. It is only someone who has no skeleton in his cupboard and who is not under pressure to do wrong things that can go about opening up his books for public scrutiny the way the Mallam Kyari-led management is currently doing at the NNPC. It is, therefore, safe to say that the NNPC of today is different from the NNPC of the past under which the refineries got to their current state. It would, therefore, not be right or fair to insist that the rehabilitation would miscarry and the fund approved for it go to waste on account of past experience. The other argument that the refineries are too old and decrepit to be fixed is also warp logic. It is just like saying that a baby is too dirty and should be thrown away with the bath water. It is nothing but foolish sentiment to reason that way about a national asset like a refinery, which if properly managed could help drive the nation out of the current catch-22 situation where the economy is adversely affected whichever way the price of crude oil turns. It is no news that the nation is sometimes worse affected by high crude oil price as it has to import petroleum products at higher prices. The only hope of reversing that is to have a robust local refining base which can only be achieved soonest by rehabilitating the refineries.

There is nothing wrong with building new ones as some have argued. But there are two things involved – time and money. Nigeria currently does not have either as it needs to act urgently to exit the catch-22 situation it finds itself. Under the circumstances, fixing what it has appears to be to most attractive option. It is also not true that the $1.5bn approved for the rehabilitation can get Nigeria a new refinery. If in doubt, go and ask Dangote who is currently building one in the country. The most seductive of all the arguments that have been proffered against the rehabilitation of the Port Harcourt refinery is that which has to do with the global gravitation towards renewable energy. This was essentially the argument put up by the erudite Professor Pat Utomi that since the world is going renewable with a foreseeable end for the fossil fuel age, investing $1.5bn in the rehabilitation of a refinery is a waste. As sound as this argument looks, it does not take cognizance of the fact that the situation in Nigeria, and indeed the entire sub-Sahara Africa, is a little different from the global scenario. Indeed, while the developed world is moving rapidly towards renewable energy, there is little or nothing on ground in sub-Sahara Africa that indicates that it is in that race. This reality was captured by the International Energy Agency (IEA) Outlook 2019 which predicted that demand for fossil fuels will grow in Africa by 45%. The report also showed that fossil fuels would make up 60% of the African continent’s energy mix in the next 40 years. If in doubt, look up the IEA report at: https://www.iea.org/reports/africaenergy- outlook-2019. Sadou Jattu, an energy lawyer and public affairs analyst, wrote from Abuja.

T H I S D AY • MONDAY, MARCH 29, 2021

EDITORIAL DEALING WITH NIGERIA’S JOBLESSNESS Dismal economic figures call for urgent reform

ast week, Bloomberg, a global media and financial data and analytics conglomerate, predicted that Nigeria would soon set another record as home to the highest number of the unemployed. A third of Nigeria’s labour force, according to the report, is without employment with many working only a few hours a week. That puts the country second after Namibia in the list of 82 countries. The report noted that unemployment has more than quadrupled over five years, making the World Bank to warn even before the advent of coronavirus pandemic that “Nigeria could become home to a quarter of the world’s destitute within a decade.” The National Bureau of Statistics (NBS) has in the past few years consistently confirmed a pattern of worsening unemployment in the country, rising from 9.9 per cent in 2015 to 19.70 per cent in the last quarter of 2016. In its latest report presented two weeks ago, the situation is even more dire. The jobless rate rose to 33.3% in the fourth quarter of 2020, from 27.1% in the second quarter of 2020. Namibia is barely a fraction higher at 33.4 per IT HAS BECOME cent. In clear terms, NECESSARY THAT OUR EDUCATIONAL TRAINING more than 23 million Nigerians had no CURRICULUM AT ALL jobs or worked less LEVELS INCORPORATE than 20 hours a SKILLS ACQUISITION week. AND ENTREPRENEURIAL That one fourth DEVELOPMENT of the nation’s labour force is idle is bad enough. Worse and extremely dangerous is the fact that more than 40 per cent of that army of idle citizens is peopled by the youth. In the Northeast and the Northwest, wracked by insurgency and general insecurity, the numbers of the unemployed are much higher. The Central Bank of Nigeria (CBN) Governor, Godwin Emefiele said last week that the level of unemployment must be addressed swiftly “to moderate the restiveness among the populace.”

Letters to the Editor

The prevalent public disillusionment is worsened by severe economic hardship occasioned by rising inflation. At more than 17 per cent and rising, inflation is at its peak in four years, evidently helped by the constantly depreciating value of the naira which exchanges for almost N500 to a dollar. In the last five years, the country was plunged into recession twice. Already home to the world’s extreme poor, the prevailing economic downturn has worsted the capacity of both the state and individuals such that basic necessities, including food, medicare and shelter have gone far beyond the reach of majority of Nigerians. This is not only frightening but breeds the risk of social, economic and security turbulence.

S 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

ome of the factors responsible for this state of affair include a rapidly growing population amid declining financial resources, predominant production of primary goods over finished products. Nigeria relies on oil as a foreign exchange earner, even in an age where fossil fuels are gradually going extinct. Besides, the general insecurity in the country is putting everyone on edge and scaring away investors. Unfortunately, the response from government to these challenges remains incoherent. Even with all the rhetoric about diversification of the economy from oil to agriculture, the tilt is still towards heavy government participation. As pointed out by Bloomberg, the present administration’s efforts at repositioning the economy had been largely ineffectual. The tilt should be towards adding value to agricultural produce through industrialisation. Also of fundamental imperative is that we must urgently realign the nation’s educational curriculum with the needs of the economy. Even though there are many well educated young men out there, it has been said with some measure of justification that majority of school leavers are actually ‘certificated illiterates’ who are unemployable. It has therefore become necessary that our educational training curriculum at all levels incorporate skills acquisition and entrepreneurial development. There is also an urgent need to examine the pattern of our largely unproductive population growth.

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.

NPC And Enumeration Of Areas Demarcation In FCT

n continuation of the demarcation of areas into sizeable units for the purpose of EAD’S (Enumeration of Areas Demarcation) the National Population Commission in the Federal Capital Territory has concluded the phase 13 of the exercise which will go up to 17 phases. The exercise which was flagged off in Abuja as soon as the new federal commissioner in charge of the Federal Capital Territory, Hon. Joseph Shazin assumed duties in the last quarter of 2020 has been a huge success. The reason is not far-fetched as Hon. Shazin was able to deploy his phenomenal administrative acumen in the discharge of the onerous responsibility. Since then the FCT office of the NPC hit the ground running bearing in mind that they had to accomplish the mandate of the commission in line with the vision of President Muhammadu Buhari. Among other responsibilities the NPC carries out vital registrations for births and deaths in the country, attests for people travelling abroad or seeking for admission in foreign countries and for Nigerians who are seeking for one legitimate favour or another outside Nigeria. They also have the mandate to ascertain or qualify Nigerians on their origin especially when such demand emanates from foreign countries or their embassies in Nigeria. In this case they qualify them or issue them with attestation letters for the purpose. It is remarkable that under Hon. Shazin as the new federal commissioner, FCT has concluded the enumeration of over 1000 demarcated areas with the Abuja Municipal Area Council recording the highest number. This is not surprising considering that the area council is the seat of the federal government and hosts many federal institutions including the federal secretariat

where several ministries, agencies and parastatals are domiciled. Suffice it to say that in exercises of this nature there are bound to be some infinitesimal errors and these errors of commission or omission are usually corrected in the subsequent phase of the exercise, but this will be determined by the national headquarters of the NPC. There will also be the identification of grey areas that were not previously captured and adequate provision will be made to capture them in subsequent exercises. The exercise is also being carried out in the 36 states of the federation and will reach the projected 17 phases, and all these efforts are in preparation for the national census which requires that states be demarcated into sizeable enumeration areas. This strategy will make for easy identification of locations, persons and houses during the national census as well as for policy planning and implementation by the federal government, local and international development agencies and even the private sector. As to when the census will commence, it is believed that it will be dependent on the successful completion of the enumeration of areas demarcation, after which the president and commander- in- chief of the armed forces, President Muhammadu Buhari will be briefed, and he will in turn decide on when to make a proclamation based on his prerogative on such sensitive national issues. It is pertinent to state that the necessity for a successful head and housing enumeration is not only for a hitch-free census but for future planning by the federal, states, local governments and the private sector. So far in the six area councils of the Federal Capital Territory the

federal commissioner, Hon. Joseph Shazin and his team have been working round the clock towards achieving the mandate of the commission and ensuring that the tasks which the president had entrusted to them is diligently executed. It is also not surprising that within six months of assuming office, Hon. Shazin has accomplished incredible feats. As the two-time former chairman of the Kwali Area council, FCT and former school administrator he had proven that good leadership was key to the attainment of collective goals and objectives. As an educationist he never ceased to harp on the need for the education of the boy and girl -child, which he believed is a prerequisite for the growth and development of the society. From all indications he is already deploying his vast knowledge of administration in his new assignment, and this is for the greater good of the federal capital that he represents at the NPC and the country as a whole. There is no doubt that the president’s choice of Hon. Shazin as a federal commissioner responsible for the federal capital Abuja is a square peg in a square hole as far as accomplishing the mandate of the census body is concerned. As they await the green light to commence the next phase of the assignment it is hoped that despite the teething challenges facing the commission such as recession, crisis ridden areas and funding, Hon Shazin will continue the diligent execution of the commission’s mandate in the federal capital territory. Chukwudi Enekwechi, JP, Abuja

MONDAY MARCH 29, 2021 • T H I S D AY

T H I S D AY ˾ MONDAY MARCH 29, 2021

Group Politics Editor NSEOBONG OKON-EKONG

POLITICS

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

M O N D AY D I S C O U R S E

Battle for PDP 2023 Presidential Ticket Begins Chuks Okocha and Segun James write that the hint from a respected organ of the Peoples Democratic Party indicating that all sections of the country are welcome to vie for its presidential ticket in 2023 may have stirred up the hornet’s nest

Secondus

Mohammed

Wabara

Yakassai

“The BoT will also ensure that very harmonious relationship exists between the organs of the party and in this regard, a detailed meeting between the BoT and the NWC is being planned to be held soon,” he stated, even as he expressed confidence in the ongoing work of the party’s reconciliation and strategy committee led by a former Senate President, Dr.. Bukola Saraki. “The Board is very appreciative of the commitment of our governors to the party and the exemplary roles they have all been playing to keep the party at an optimum operational level,” he said. “This is the only party in Nigeria, if not in the world, that is not owned by anybody. This party is owned by the people,” he said. But that decision is not sitting well with Igbo ethnic nationality who see the move as another subtle way of denying their people an opportunity to take a shot at the presidency. It is based on this that the apex Igbo sociocultural organization, the Ohanaeze Ndigbo has come out kicking against the PDP decision. To them, if there is one ethnic nationality that has been loyal to the party, it is the Igbo. They have been unwavering in their support for the party. They wonder why they should be paid back in such a manner.

The Ohanaeze Ndigbo, while rejecting the Bala Mohammed-led committee report of the party which recommended that the 2023 presidential ticket of the party should be thrown open to all sections of the country, said that the committee report was capable of impugning the unity of the country and asked for the withdrawal of the report that it described as unconscionable. The Igbo parent body noted that it was committed to Nigeria producing a President of Igbo extraction in 2023, adding that it will willingly identify with any group that is ready for the bargain. In a statement, National Publicity Secretary of Ohanaeze Ndigbo, Chief Alex Ogbonnia said: “Ohanaeze views the report by the Bala Mohammed led committee as most despicable, un-reflective and unconscionable. It is very worrisome that some highly placed Nigerians who have benefited so much from the unity of the country would be inclined to decisions and actions that will further inflame the passions of the patient but aggrieved part of the country. “For the avoidance of doubt, Nigerians agreed on the rotation of the presidency between the North and the South; in which case it is the turn of the South after the tenure of President Muhammadu Buhari. For clar-

ity purposes, both the South-west and the South-south had both taken their turns in the persons of Chief Olusegun Obasanjo and Dr Goodluck Ebele Jonathan respectively. It is rather very unpatriotic and a trifle on the sensibilities of the Igbo for the committee to even suggest the rotation of the presidency to the North-east in the first instance and open to every part of Nigeria as a major slight. “It is disturbing that all the indignities, perceived and real, that the South-east suffer in the current dispensation are the outcome of the Igbo support to the PDP since 1999. It is on record that in 1999, the Igbo were in hock with the PDP through which Chief Olusegun Obasanjo emerged the President of Nigeria; same in 2003 and the subsequent elections in Nigeria. “On the other hand, the Igbo had invested much political capital in the PDP only to be betrayed by its apparent lack of principles. The leadership of the PDP is advised to retract the comment made by Alhaji Bala Mohammed and countermand the content of the obnoxious committee report in the interest of the party. “Let it be known that Ndigbo does not wax so eloquent on political parties. The Igbo is bound to advertise the party that caters to the interest of our people. It is instructive that Senator Ali Ndume, a chieftain of the All Peoples Congress (APC) is among the prominent Northerners that canvass for zoning the Nigerian presidency to the South East for the 2023 presidential election. Other prominent APC chieftains are highly committed to the realisation of this project and we will be very delighted to work with them in the overall interest of Ndigbo. “The Ohanaeze Ndigbo led by Ambassador Professor George Obiozor is committed to a Nigerian president of Igbo extraction and there is no going back on it. It should be noted that the Igbo network transcends geographical space and the enormous Igbo goodwill and resources across the world will be mobilized to achieve this equity-inspired project. In the words of Obiozor, the Igbo are a confident set of people who do not hide their feelings easily no matter the consequences. He added, “If you deny the Igbo justice, be ready for righteous indignation, diminishing authority, denial of the legitimacy of governance and loyalty. The Igbo faith and confidence is based on what you deny the Igbo in the morning, they can give to themselves in the evening through hard work and perseverance. We are undaunted.” In the smouldering political landscape of Nigeria, the future is lying on two fundamentals - equity and fair play. Given the sacrifices the Igbo people have made in the last 20 years of steady democracy in the country, would they be given the chance to field the party’s presidential candidate?

n a year thick with bad news much of it economic and health care, it is perhaps not surprising that all has been quiet in the well-known Peoples Democratic Party (PDP) acrimonious political culture. Things have not been the same with Africa’s largest opposition party since it lost the 2019 presidential election to the rival, All Progressives Congress (APC). However, it seems the party has stirred to life a few days ago following the publication of the decision of the party’s Board of Trustees to make its presidential ticket open to all. It is always a bit of a gamble for a political party to attempt to claw back onto the scene it built. But there is a chance that the PDP may have made the daring move with the decision not to zone its presidential ticket to any part of the country - for now, given the prevailing political situation in the country. If the PDP refused to give its presidential ticket to the Igbo in 2023, would that signal the end of the party’s dominance in the South-east? The BoT of the party in a statement by its Secretary, Chief Adolphus Wabara, an Igbo man, disclosed that following an emergency meeting of the organ of the party in Abuja, it has decided to leave the presidential ticket open to all. Wabara, a former Senate President, who represented the Board’s chairman, Walid Jibrin, said it was too early to talk about the zoning of key office when issues confronting the opposition party were yet to be resolved. He said that would be like putting the cart before the horse. “By the time we resolve all the issues in the party, we shall come up with a zoning formula. As you know, if you go through the constitution, you will realise that PDP is a party of zoning. “But when it comes to political exigencies, you will realise that anything can happen, that is why we can amend our constitution at will to win an election,” he said. Wabara pledged a level playing ground and uninterrupted operations of all organs of the party ahead of its December National Convention. He said the emergency meeting was particularly necessary considering the political and economic tension in the country, adding that the meeting was to ensure the stability of all the organs of PDP and to place them on alert and in sharp focus as the party prepares to take over power in 2023. “The Board is fully committed not to allow any mischievous trends or strain to clog the working relationship between all members, particularly at the top management level of the party,” he said. Wabara said the party was determined to do all that was necessary to ensure that it fulfilled the overwhelming desire of the vast majority of Nigerians that the PDP regained power in 2023.

Though, the NEC member refused to be quoted officially, so as to avoid further controversy. However, he said that the important thing before the PDP is to get a presidential candidate that wears the garment of a nationalist and not a regional champion. He maintained that much as the PDP would want to be transparent and democratic in nature, “PDP will do everything democratic to ensure equity when it comes to the choice of who will be the presidential ticket holder in 2023”, he explained. One thing that is important so far is that the report is still a recommendation and subject to further study and analysis by all the instant organs of the party. For instance, as the National Chairman of the party, Prince Uche Secondus said. the party will study and analyse the report and come out with what will be beneficial to the party. But the Deputy National Secretary of the PDP, Dr. Emmanuel Agbo who served as the secretary of the Bala Mohammed, said that no zone was shut out by the recommendation of the panel. He clearly stated that all zones are qualified to contest, even the South -suth and the South-east

T H I S D AY ˾ MONDAY MARCH 29, 2021

MONDAY DISCOURSE

Obiozor

Ologbodiyan

Jonathan

Obasanjo

That’s the question as many from the North are still blaming them for the supposed ‘sins’ of their fathers. They insisted that the politics of tribalism, coup plotting and war were introduced to Nigeria by the Igbo. But 50 years after the Federal Government’s “no victor no vanquished” rhetoric after the war, why are the Igbos being held to political ransom? Gone are the days when the PDP was the lone mighty Iroko tree in the national political forest. Today that tree has withered, hence when the final whistle for politicking is blown, the party may not be on the starting block. It wasn’t so long ago that the party almost controlled the entire system, but since 2015, things have changed for the worse. Yes, the PDP has had more than its fair share of political crisis over the years, so when turbulence starts to rock after two years of things being quiet on the political front, it is a sign that the party is waking up from its slumber. But to whose benefit? The essence of all political parties is to win elections and this is by no means based on sentiments. Elections in itself is a jostle for power with strategies on areas perceived as its stronghold. No political party will waste it’s ticket on any election based on sentiments. These were the views of a member of the PDP National Executive Comment (NEC) who was reacting to torrents of criticisms on why the Governor Bala Mohammed committee that recommended that the presidential candidate of the party in 2023 should be thrown open. Though, the NEC member refused to be quoted officially, so as to avoid further controversy. However, he said that the important thing before the PDP is to get a presidential candidate that wears the garment of a nationalist and not a regional champion. He maintained that much as the PDP would want to be transparent and democratic in nature, “PDP will do everything democratic to ensure equity when it comes to the choice of who will be the presidential ticket holder in 2023”, he explained. One thing that is important so far is that the report is still a recommendation and subject to further study and analysis by all the instant organs of the party. For instance, as the National Chairman of the party, Prince Uche Secondus said. the party will study and analyse the report and come out with what will be beneficial to the party. But the deputy national secretary of the PDP, Dr. Emmanuel Agbo who served as the secretary of the Bala Mohammed, said that no zone was shut out by the recommendation of the panel. He clearly stated that all zones are qualified to contest, even the South -suth and the South-east. He explained that what was paramount before the party was the emergence of a nationalist not some one that will wear the toga of ethnic jingorist . Agbo stated that the crisis facing Nigeria as a nation is like what happened during annulment of the June 12 1993 presidential election that polarised Nigeria along ethnic lines. In view of this, he said that the panel is looking for a presidential candidate as was done when the PDP brought in General Olusegun Obasanjo to weld the broken cracks of Nigeria together.. At each time, he spoke, Agbo always clarified that no zone has been shut out. Also reacting through his Tweeter handle, the National Publicity Secretary of the PDP, Kola Ologbondiyan, said, “Due to enquiries from our members and the general public, it has become imperative to clarify that@ OfficialPDPNig is yet to adopt any of the

recommendations proposed by the Senator Bala Mohammed’s Committee on the Review of the 2019 Elections. “As such, it will be incongruous for anyone to assert that any decision has been taken @ OfficialPDPNig on zoning of the Presidency ahead of the 2023 elections. “@OfficialPDPNig leaders, members and supporters are enjoined to note that party is yet to take any decision on the proposals presented by the committee.”, the PDP declared . The implication of this is that the PDP has not taken a position. However, Chief Dan Orbih, the Southsouth National Vice Chairman of the Peoples Democratic Party (PDP), said that the choice of the party’s candidacy in the 2023 presidential election will be determined by the political terrain prior to the general polls. He said that the clamour by its members for a South-south presidential endorsement showed their maturity as stakeholders but would be decided upon after members fully examined the country’s political terrain for a balance. Orbih gave the indication in an interview in Benin while reacting to the increasing agitation by party loyalists from the zone for the party to zone the 2023 presidency to South-south. He, however, noted that the clamour was an indication that the party was a very organised one. According to him, before the party goes into any presidential contest, it will sit and look at what is on ground politically.

“Based on that the party then takes a position on the zone where the candidate will come from. “No doubt there are lot of persons who feel strongly that there is need for the party to formally zone the presidency. “First, it will reduce rancour among members. Secondly, it will give direction on what the party is looking at. “Another thing is that as a matter of strategy, if the party settles for a zone, it means we will take advantage of the place the party has zoned it to.” He, however, disclosed that as at present, the party had yet to zone the presidency in the forth coming 2023 general elections. He also explained that those agitating for the presidency to be zoned to South-south were of the strong opinion that the zone should return and complete its denied second tenure. “They also argued that considering the votes normally garnered by the party from the zone, the party should not overlook the South South in considering where the 2023 candidate should come from. “They are just going by the saying that to whom much is given, much is expected. The zone has given so much to the party in terms of votes, party loyalty, commitment, and what have you. “So they feel that the party should not overlook them when it comes to the issue of the presidency. They believe that the votes they normally poll from the zone can even be doubled if a candidate from the South South is considered,” the PDP leader said.

It is clear that the PDP has not zoned it’s presidential ticket and therefore no one should railroad the party to take a decision. The report of the panel is a mere recommendation and has not been iscussed by the organs of the partym Another member of the NEC of the PDP, said zoning of the presidential ticket will take into cognisance some factors like the number of votes anticipated from each zone. The member said like the Bala Mohammed committee did, that there is a clamour that the North-eaast and South-east produce the presidential candidate of PDP. But asked, would it not be suicidal for the PDP to jump the gun and announce it’s candidate now. The member of NEC explained that it is expected that the ruling party, the APC should first announce itts ticket holder before the PDP. In this case, like Dan Orbih said, there would be several political considerations. Some of the political considerations include the number of votes coming from each zone during elections. Apart from the number of votes from the South-south states. How is this comparable to the votes from the South-east For instance, the entire members of the Southeast in the House of Representatives is just like the number of members from Kano state. How many votes from the five states of South east when compared from the votes from Kano and Katsina state. Kano state posts over one million votes and Katsina state records a little below one million votes. The NEC member explained that the zoning of the presidential ticket of any serious party should be through lobbying and not coercion. Also, the zone in question will have to show that by getting the presidential ticket, it has capacity to win According to the elder statesman, Tanko Yakassi, in agreeing to the concept of zoning said that the opposition party is not tied to the zoning principles that will tie it to that of government in power. He maintained that any opposition party must adopt a zoning system that would earn votes for it. Tanko Yakassai explained that the other political parties which is also operating on a zoning principle must not tailor its zoning arrangement to suit the zoning arrangement of the other party. Accordingly to the former presidential adviser, “It does not mean that opposition party must align with the zoning arrangement of the other party. In other words, if one party produces a candidate from the north, the next should produce a candidate from the north. It should produce from the south. But zoning arrangement can not prevent another party from producing candidate from the zone where the other party had produced a candidate that occupied that office at one time”. By implication, PDP will do anything to ensure it wins the presidential election as an opposition party. It is for the APC to zone and ensure it retains its hold on the presidency As at press time, it was gathered that the executive organ of the party will subject the report of the Bala Mohammed committee to address all the objections raised and therefore, it would be unfair to say that the party has zoned its presidential slot to any geopolitical zone. However, one thing gathered during several interaction with stakeholders is that any decision to be reached will not be based on sentiments but on bare facts to attract votes to the party that can assure that it wins the 2023 presidential election.

The Ohanaeze Ndigbo, while rejecting the Bala Mohammedled committee report of the party which recommended that the 2023 presidential ticket of the party should be thrown open to all sections of the country, said that the committee report was capable of impugning the unity of the country and asked for the withdrawal of the report that it described as unconscionable. The Igbo parent body noted that it was committed to Nigeria producing a President of Igbo extraction in 2023, adding that it will willingly identify with any group that is ready for the bargain. In a statement, National Publicity Secretary of Ohanaeze Ndigbo, Chief Alex Ogbonnia said: “Ohanaeze views the report by the Bala Mohammed led committee as most despicable, un-reflective and unconscionable. It is very worrisome that some highly placed Nigerians who have benefited so much from the unity of the country would be inclined to decisions and actions that will further inflame the passions of the patient but aggrieved part of the country. “For the avoidance of doubt, Nigerians agreed on the rotation of the presidency between the North and the South; in which case it is the turn of the South after the tenure of President Muhammadu Buhari. For clarity purposes, both the South-west and the South-south had both taken their turns in the persons of Chief Olusegun Obasanjo and Dr Goodluck Ebele Jonathan respectively. It is rather very unpatriotic and a trifle on the sensibilities of the Igbo for the committee to even suggest the rotation of the presidency to the North-east in the first instance and open to every part of Nigeria as a major slight

T H I S D AY ˾ MONDAY MARCH 29, 2021

POLITICS

Onnoghen’s Stark Revelations Finally, former Chief Justice of Nigeria, Justice Walter Samuel Onnoghen has revealed that his ouster from oﬃce was made possible by mere political intrigues orchestrated by the Federal Government, writes Davidson Iriekpen

Buhari

or the first time since he was removed as the Chief Justice of Nigeria (CJN), Justice Walter Samuel Onnoghen, penultimate week broke his silence on the possible reasons for his removal. The former CJN, who spoke at the unveiling of a book titled ‘Fundamental Rights (Enforcement Procedure) Rules, 2009, Practice, Procedure, Forms and Precedents’, by a senior lawyer, Chief Ogwu James Onoja (SAN), attributed his sack to political intrigues. He disclosed that prior to his removal, he was accused by the executive of meeting with former Vice President Atiku Abubakar in Dubai, United Arab Emirates, preparatory to the 2019 general election. According to him, the rumour was thick and spread fast, but he decided not to react to it because he never travelled to Dubai or held any meeting with anybody, including Atiku. The former CJN, however, said he was surprised that despite the fact that the Federal Government had all the machinery to investigate the allegation of the rumoured meeting, it never did, but opted to go after him and his office. Onnoghen was removed under controversial circumstances in 2018. Despite the plethora of orders and precedents, the Muhammadu Buhari-led Federal Government proceeded to remove him from office. Narrating his ordeal, the former CJN said he was not surprised when all of a sudden, his trial at the Code of Conduct Tribunal (CCT) was arranged, even when he had not been invited to defend the allegation or any wrongdoing. He said the action of the government against him got to the peak when in the course of the trial and when parties had joined issues, an ex-parte was suddenly brought in, and what followed was his illegal and unlawful suspension as CJN. Onnoghen said if the judiciary is not free from political manipulations, the dispensation of justice according to the rule of law would be a mirage. He emphasised that justice is possible when “you know who is dispensing justice,” adding that the surest way to guarantee justice and democracy is to adhere to the rule of law. The former CJN said that ordeal was not the first, adding that at a point during former President Olusegun Obasanjo’s regime, a commission was set up and that he was indicted of wrongdoing, even when he was not invited or allowed to appear before the commission to defend himself. He, however, said because former President Obasanjo was a leader who listened to advice, the matter was referred to the NJC for review. He added that at the council, truth surfaced before he was appointed to the Supreme Court. He urged legal practitioners to be courageous enough to stand by truth by defending the rights of Nigerians because only justice can rescue Nigeria. “Nigeria is structured on the rule of law, any democracy not founded on the rule of law is a dictatorship. It’s only when the rule of law prevails that you can get justice. Prior to suspension, I was confronted with no allegation. There were rumours that I met with

Muhammad Atiku in Dubai. As I am talking here today, I have never met Atiku one-on-one in my life. As if that was not enough, I was also accused of setting free, high-profile criminals, whereas I seized to be a High Court Judge as far back as 1978. “In Supreme Court, I did not sit alone. We sat in panel. In all these rumours and outright accusations, I was not given opportunity to defend myself. Let me make it clear that the office of the CJN was not for Onnoghen but for all Nigerians who had sworn to guide and protect the Constitution of the Federal Republic,” he said. Though the presidency has not responded to or debunked Onnoghen’s revelations, the way it plotted his removal from office confirmed the impression that he was never wanted in the first place. Even when Nigerians were anxiously looking forward to the day he would on his own tell the story about what led to his ouster beyond the reasons the Federal Government gave, they didn’t expect that it would be based on mere political intrigues. For many who listened to the former CJN penultimate Friday, it was not a surprise that he was removed. Onnoghen was the longest to serve as acting CJN in the annals of the country. Upon the retirement of Justice Mohammed Mahmud as CJN on November 10, 2016, the NJC forwarded two names to the Presidency - Onnoghen’s name and that of the next in rank, Justice Ibrahim Tanko Muhammad. But the delay by President Muhammadu Buhari to transmit his name to the Senate for confirmation as provided in section 231(1), fuelled insinuations of conspiracy to truncate seniority status of the Supreme Court. Aside alleged plot to sideline the former CJN who happened to be the first Southern jurist, in about 30 years, to attain such judicial height, insinuations were also rife that the second nominee, Justice Muhammad, who hails from Bauchi State, was President Buhari’s first choice candidate for the position of CJN.

Onnoghen The theories got a boost after President Buhari, who hesitantly succumbed to pressure by allowing Onnoghen to head the judiciary in acting capacity, deliberately ignored him in that position till he almost became statutorily ineligible to take over as the substantive CJN. While he had till February 10, 2017 to get his appointment validated by the National Assembly or be removed from office, President Buhari had travelled outside the country on medical leave. Perturbed by the situation, the NJC, at the end of its emergency meeting, wrote to the then Acting President, Prof. Yemi Osinbajo, urging him to extend Onnoghen’s tenure as the Acting CJN. According to Section 231(5) of the 1999 Constitution, as amended, “Except on the recommendation of the NJC,” Onnoghen’s appointment by President Buhari, “shall cease to have effect after the expiration of three months from the date of such appointment, and the president shall not re-appoint a person whose appointment has elapsed.” Unknown to the NJC, Prof. Osinbajo had on February 7, 2017, transmitted Onnoghen’s name to the Senate for confirmation as substantive CJN. On March 1, 2017, the Senate screened and confirmed him as the 17th CJN, and on March 7, he was sworn in by then Acting President Osinbajo, while his boss was away. The first streak of trouble for the new CJN started simmering after President Buhari, upon his return to the country, described the judiciary as the “major headache” of his administration. The lamentation of the president came not too long after operatives of the Department of State Service (DSS), raided homes of eight superior court judges. It did not end there. To show that he was not wanted in the position, from time-to-time, there were rumours that the Economic and Financial Crimes Commission (EFCC) was investigating him, but the commission would deny the reports. But he was taken by surprise on January 9 after the Code of Conduct Bureau (CCB) acting with unprecedented supersonic

Aside alleged plot to sideline the former CJN who happened to be the first Southern jurist, in about 30 years, to attain such judicial height, insinuations were also rife that the second nominee, Justice Muhammad, who hails from Bauchi State, was President Buhari’s first choice candidate for the position of CJN. The theories got a boost after President Buhari, who hesitantly succumbed to pressure by allowing Onnoghen to head the judiciary in acting capacity, deliberately ignored him in that position till he almost became statutorily ineligible to take over as the substantive CJN

speed, recommended him for prosecution on the strength of a petition dated January 7. The said petition was lodged against him by a group known as Anti-Corruption and Research Based Data Initiative, promoted by a former aide to President Buhari, Mr. Dennis Aghanya. It accused Onnoghen of corruption and failing to declare his assets as prescribed by law. The CCB, having recommended the former CJN for prosecution, the Federal Government immediately entered a sixcount charge against him before the Code of Conduct Tribunal (CCT) on January 11. The Danladi Umar-led CCT quickly summoned Onnoghen to appear before it on January 14 to take his plea to the charge. Determined to fight back, the former CJN refused to honour the summon, even as he challenged the jurisdiction of the CCT to try him on the allegations contained in the charge. He contended that the Federal Government failed to follow the laid down judicial precedent as encapsulated in a recent Appeal Court decision in Nganjiwa v Federal Republic of Nigeria (2017) LPELR-43391(CA), to the effect that any misconduct attached to the office and functions of a judicial officer, must first be reported to and handled by the NJC, pursuant to the provisions of the laws. The same day, Federal Government filed a motion for the tribunal to compel Onnoghen to step aside as the CJN and Chairman of the NJC, and for him to hand over to his next in commend, Justice Muhammad. While the CJN was contending with the CCT, three separate high courts, as well as the National Industrial Court, issued interim injunctions stopping the tribunal from taking further steps on the matter. On January 21, in two to one split decision, the CCT panel, said it would proceed with the trial the next day, despite the court orders. Not relenting, Justice Onnoghen, through his team of lawyers led by a former President of the Nigerian Bar Association (NBA) persuaded the Abuja Division of the Court of Appeal to suspend further proceedings at the CCT, pending the determination of an appeal he lodged against his trial. Though he succeeded at the appellate court, in a counter move, the Federal Government secretly obtained an interim order from the CCT, which empowered it to suspend the CJN and appoint Justice Muhammad in his stead. It was gathered that while chairman of the tribunal, Umar and another member, Mrs. Julie A. Anabor, granted the ex-parte orders sought by the Federal Government, the third member, Mr. William Agwadza Atedze, declined to accede to the request, insisting the applicant should go and put Justice Onnoghen on notice. Based on the said ex-parte order, President Buhari, immediately suspended Onnoghen and installed Muhammad to take over as acting CJN. For many, all that transpired was carefully plotted to achieve a pre-determined goal. Though the country has moved on since Onnoghen was forced out of office, every time the issue comes up in political and judicial debates, it evokes sad memories.

T H I S D AY ˾ Ͱͷ˜ ͰͮͰͯ

FEATURES

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

Changing theYouth Story through N-Power Programme Rebecca Ejifoma writes that the federal government-backed N-Power programme, a pro-youth flagship social investment project, was designed for both young graduates and non-graduate to harness their skills for innovation, entrepreneurship and productivity

N-Power Batch C

Attentive N-Power Beneﬁciaries

non-payment of stipend to participants as at when due, wrong bank verification number (BVN) and overbearing hands of politicians in the programme, high transportation fare paid by the participants to work, website and internet hiccups. Going forward, the study recommended that the authorities concerned should promote rural development through N-Power programmes. Integrated rural development is also seen as the key for alleviating poverty of the rural dwellers who constitute the greater chunk of the population and that government at all levels should reactivate moribund industries and enterprises and expand the horizon of N-Power programmes in that direction. To varying degrees of success and often similar challenges, the N-Power programmes also impacted Bayelsa, Edo, Delta, Akwa Ibom and Cross River states – all in the South-South zone. Another very significant dimension of the N-Power Programmes in the South-South is the N-POWER - Innovation Hubs Programme. Through this programme, the federal government plans to establish eight Technology Innovation Hubs around the country with one in each geo-political zone. An early beneficiary, the South-South Hub, in partnership with the Edo State Government’s ‘Edo Innovates’ initiative, is focused on training the youths and supporting entrepreneurs with solutions across education, oil & gas, security, amongst other areas. The Hub is strategically placed alongside Microsoft, Cisco Academy, Slot Foundation’s training class and other similar organisations that feed the ecosystem. In addition, a branch has also been set up at the Tinapa Knowledge City, Cross River, Calabar. In the North-Central zone, the N-Power programme has recorded measurable impact too. In Kwara State for instance, N13.3 bilion has been spent on N-Power beneficiaries as at September 2020. The 15,246 N-Power beneficiaries comprised Batches A and B who volunteered in the state before they exited the National Social Investment Programme (NSIP). Among the five N-Power components, education subcomponent is the most popular, due to a large number of youth deployed to teach in public schools. Other popular subcomponents are agriculture and health. The scheme recently disengaged both Batch A and B graduates enrolled in the N-Power scheme, opening a new portal for fresh intakes of volunteers that have seen a record of over five million people that so far applied. The Kwara State focal person also gave a breakdown of the total expenses spent in a period of five years. She said the Batch A beneficiaries in Kwara State, who were engaged for a period of 42 months, gulped a total sum of N7.4 billion, while the Batch B beneficiaries received a total sum of N5.7 billion in 24 months. Her words: “Non-graduates received the sum of N10,000 every month and were engaged for a period of 24 months with a total sum of over N24 million spent.” She further revealed that the Kwara State government has replicated the

powerful vision pulls in ideas, people and other resources. It creates the energy and will to make change happen. It inspires individuals, diverse stakeholders and organisations to commit, to persist and to give their best. Cut to the bone, this is the story of the N-Power Programme - a pro-youth flagship social investment project of the President Muhammadu Buhari administration - conceived in 2016. The Federal Ministry of Humanitarian Affairs, Disaster Management and Social Development, ably led by the Honourable Minister Sadiya Umar Farouq, supervises the N-Power programme - a job creation and empowerment initiative. It is designed for both young graduates and nongraduates in order to harness their skills for innovation, entrepreneurship and productivity. The targeted sectors are in the nation’s critical areas of needs in education, agriculture, health, technology, creative industry, construction and artisanal industries. Harnessing the nation’s young demography through appropriate skill development efforts provides an opportunity to simultaneously achieve national inclusion and productivity. The key N-Power Programmes include: N-Power Agro, N-Power Tax, N-Power Build, N-Power Creative, N-Power Health, N-Power Teach, N-Power Tech Hardware and N-Power Tech Software. The modular programmes under N-Power ensure that each participant learns and practices most of what is necessary to find or create work. The N-Power Volunteer Corp involves a massive deployment of 500,000 trained graduates who will assist to improve the inadequacies in our public services in education, health and civic education. Some of these graduates will also help in actualising Nigeria’s economic and strategic aspirations of achieving food security and self-sufficiency. The federal government inaugurated the third batch (Batch C) of the N-Power exercise on the National Social Investment Management System (NASIMS), on Thursday, March 11, 2021, in Abuja. NASIMS is the central management platform for the administration and coordination of the National Social Investment Programmes (NSIP) under the Federal Ministry of Humanitarian Affairs, Disaster Management and Social Development. The inauguration was chaired by the Honourable Minister Sadiya Umar Farouq. An elated Farouq told her rapt audience that the inauguration was in continuation of the ongoing strategy by the President Muhammadu Buhari-led government to lift 100 million people out of poverty in ten years. She then revealed that Batches ‘A’ and ‘B’ had already been implemented, stating that the 500,000 beneficiaries will benefit in the first stream of the ongoing process for batch ‘C’, while the same number of Nigerians will benefit in the second stream. Her words: “I am delighted that we are gathered today for the launch of the Batch ‘C’ on the National Social Investment Management System (NASIMS). The N-Power cluster,

Sadiya Umar Farouq

which is a combination of many sub-cluster initiatives, is aimed at providing opportunities in skills acquisition, competency building, and entrepreneurship training among the poor for human capital development. “The N-Power, Government Enterprise Empowerment Programme, National Home-Grown School Feeding Programme, and Conditional Cash Transfer are undergoing series of strategic realignment and restructuring with the view to optimise their operations and maximise their impacts. Today, we have reached another milestone in the process of recruiting and onboarding of the Batch C N-Power beneficiaries, beginning with 500,000 beneficiaries.” Farouq further explained that the new batch will drive skills acquisition for beneficiaries, with the goal to ensure that they are economically active and possess the right vocational skillset to attract gainful employment when they graduate. According to the minister, the beneficiaries will be paid N30,000 each as monthly stipend, adding that the scheme will increase national employment indices and ensure the productive engagement of millions of youths. From tracking the impact of N-Power in the South-South region it was obvious that considerable and positive effects were registered. A study by Newman Enyioko of the University of Port found that the major activities of N-Power programmes towards poverty alleviation in Rivers State indeed generated empowerment for the youths in the state. The study revealed that N-Power Programmes’ beneficiaries are mainly university and polytechnic graduates. It also revealed that the major factors affecting the implementation of N-Power programmes towards poverty alleviation in Rivers State include: Insufficient information,

youth empowerment programme, codenamed K-Power, in order not to throw beneficiaries into the labour market after exiting N-Power. From evaluation, it was noted that the inclusion of non-educated youths was important. Some stakeholders urged extension of the programme beyond two years and that more sectors should be added to make it multi-sectorial in reducing unemployment and poverty. Meanwhile, in Makurdi, Benue State, last weekend, the federal government disbursed N20,000 each to 2,900 women to improve their living standards, an activity update by Mrs. Sadiya Farouq, during the inauguration of the grant for rural women project. This complements the core N-Power empowerment of youths. Her words: “Our target in Benue is to disburse the grant to about 2,900 beneficiaries across all local government councils. The grant is expected to increase income and productive assets of target beneficiaries. It is our hope that the beneficiaries of this programme will make good use of the grant to generally contribute toward improving their living standards. “This is by using the fund as a seed to boost their trade for greater income and not to see it as their own share of the so-called “national cake.” What obtains in Kwara, Nasarawa, Kogi and Benue are largely replicated in the other states that constitute the region: Niger, and Plateau. In Nasarawa State, the federal government distributed tools and equipment to over 5000 N-power build pre-apprenticeship participants in Lafia to make them more self-reliant. This was confirmed by Alhaji Dauda Wase, the Nasarawa State Coordinator, National Directorate of Employment (NDE), while presenting Testimonials and distribution of the training tools and equipment to the beneficiaries. The tools and equipment distributed to the beneficiaries were for masonry and tiling , electrical installation, carpentry, plumbing and pipe fittings, automobile repairs, catering, housekeeping, bakery and confectionery, among others. Throughout the duration of the just concluded pre-apprenticeship basic training in Nasarawa, each trainee was provided with a nourishing meal per day and the sum of N10,000 stipend every month. In Kogi State, over 12,000 youths have benefited from the N-Power scheme. It’s worth repeating here that the NSIP is not all about N-Power; it also has other key components like the Conditional Cash Transfer (Household Uplifting Programme), Government Enterprise and Empowerment Program (tradermoni, marketmoni, farmermoni) and the Home Grown School Feeding Program (HGSF). The CCT programme directly supports those within the lowest poverty bracket by improving nutrition, increasing household consumption through cash benefit of N5,000 monthly. Kogi State is one of the 8 pilot States that started the Cash transfer program in 2016. It has two categories of cash transfer and a livelihood support targeted at poor and vulnerable households.

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Quick Takes FirstBank to Organise FirstGem Conference

STOCK-TAKING

L-R: Non-Executive Director, Africa Prudential Plc, Mr. Emmanuel Nnorom; Managing Director/CEO, Mr. Obong Idiong; Chairman, Chief Eniola Fadayomi; Company Secretary, , Mr. Joseph Jibunoh; and Non-Executive Director, Mr. Samuel Nwanze, at the 8th annual general meeting of Africa Prudential Plc, held in Lagos... recently ETOP UKUTT

FG Urged to Develop Effective Social Protection Systems Dike Onwuamaeze A report by the Nigerian Economic Society Group (NESG) on the, “Assessment of the Impact of COVID-19 Lockdown on Households in Nigeria,” has advised the federal government to formulate and implement actionable policies that would strengthen social protection systems in the country. The report also called for a comprehensive review of the country’s National Crisis Response Mechanisms (NCRM) and the implementation of radical reforms in the education sector, which should include increased funding and digitalisation of the learning process. It also emphasised the need for increased investment in health infrastructure by stimulating participation from the private sector. Some of the highlights of the

ECONOMY findings from the NESG survey showed that 54.8 per cent of the respondents experienced negative changes in their source of livelihood, ranging from loss of jobs, drop in sales and reduction in salary. Another 57.8 per cent of the respondents experienced a significant drop in their food consumption while 64.1 per cent cannot provide for their families if lockdown extended beyond four weeks. According to the NESG, the survey revealed that the overall impact of the lockdown on 72.9 per cent of the respondents indicated that it worsened their financial situation. It also said that the impact of the lockdown has been devastating as

many people lost their jobs and sources of income while others have emptied their savings to cater for their families and loved ones. The NESG noted that the welfare loss associated with the lockdown would have been moderated by palliative measures if Nigeria had had adequate social security systems to protect the needy and vulnerable groups against economic shocks. It said: “In terms of the overall impact of the lockdown on the welfare of households, particularly on their finances, data showed that the finances of the overwhelming majority of the respondents have been negatively affected. “For instance, 38.1 per cent of the respondents indicated that the lockdown has ‘significantly’ worsened their families’ financial situation. Similarly, the COVID-19 Monitoring Survey conducted by National Bureau of Statistics

(NBS) in between April and May 2020, showed that 92 per cent of respondents viewed the COVID-19 as a threat to their household’s finances, whereas 79 per cent of respondents reported that their households’ total income had decreased since mid-March. “This suggests that the lockdown has further impoverished a number of households, a situation that could worsen the level of poverty in the country in 2020.” The report also called for effective health insurance coverage in Nigeria as the findings of the survey showed that 71. 4 per cent of its respondents had no form of health insurance scheme, a situation that could have telling implications for the health status of members of households in Nigeria. “One of the issues exposed Continued on page 24

Report: 5G to Boost Global Economy by $1.3tn Ndubuisi Francis in Abuja Rollout of 5G technology are expected to give the global economy a $1.3 trillion boost by 2030, a new report from PriceWaterhouseCoopers (PwC) has stated. The report revealed that more than half of the global economic impact of 5G will be seen in the health and social care space by driving automation, improved communications and telemedicine services. The next generation of mobile networks has been much hyped and debated over the last several years, with advocates claiming it will help usher in the fourth industrial revolution. Following global trends in telecommunications development

ECONOMY of 5G, the Nigerian Communication Commission (NCC) had in November 2019, embarked on a Proof of Concept (trial) with mobile network operator, MTN in six locations using different equipment vendors for a period of three months. Relevant stakeholders including members of the security agencies were involved in the trial. The trial was conducted to enable the Commission assess the performance of the technology in comparison with existing technologies, evaluate compliance to health and safety guidelines and also use the lessons learnt to guide Policy towards commercial deployment.

According to PwC’s report, the roll-out of 5G in Ireland was in line with roll-outs internationally and will be faster than 4G launches in the past, given the growing demand for this technology. A partner at PwC Ireland Advisory Consulting, Amy Ball said 5G is about more than faster speeds, adding that paired with artificial intelligence and the internet of things, it will show its true impact for both industry and consumers. He said: “5G promises to increase innovation, efficiency and productivity for businesses and governments. “Key benefits also include reduced lag times with ultrareliable communication, higher bandwidth and download speeds, with much improved streaming

communications. 5G will result in new markets and new ways of working.” People in Ireland will have seen an increasing number of 5G devices on the market in the past year and network operators adjusting their services in response to increased remote working. The Director of PwC Ireland Advisory Consulting, Neil Redmond, said: “When 5G arrived in Ireland, the majority of users were using handsets that were 2G to 4G compliant. The proliferation of new devices with 5G connectivity during the pandemic has a knock on effect for workers and service providers. “For example, the new normal of working from home may see

First Bank of Nigeria Limited has announced the fourth edition of its annual FirstGem Conference, tagged FirstGem 4.0. The 2021 event has as its theme: ‘The Art of Negotiation’ and is being convened to provide women with insights on the secrets of wealth management, investment and savings. It is scheduled to hold on Wednesday, 31 March 2021. According to the bank, the product, FirstGem, is an account designed specifically to meet the needs of women, aged 18 years and above. The product is targeted at a broad spectrum of women, working professionals,entrepreneursormarketwomentopromotetheirbusiness through an array of benefits, from free business advisory services on business funding, specialized training on Business Development initiatives (online and physical), regular information or insights on business opportunities or openings in various sectors and industries. FirstGem account owners have access to mouth-watering discounts at merchant outlets (spas, salons, grocery stores) that offer lifestyle products and services. The Guest Speakers at the event are the Chairman, Board of Directors, First Bank of Nigeria Limited, Mrs. Ibukun Awosika; Prof. of Economics at IESE Business School, Prof Pedro Videla, and Senior Lecturer, IESE Business School, Prof Mehta Kandarp. During the event, FirstBank SME customers would be given the opportunity to pitch their business idea and stand a chance to get N1, 000,000 seed fund to kick-start their business. The business ideas would be judged by the following criteria; Originality, Feasibility, Good presentation skills and Sustainability. Speaking on the event, Deputy Managing Director, FirstBank, Mr. Francis Shobo said “The FirstGem 4.0 is the icing on the cake in the streams of initiatives and activities we have organised and participated in March as we join the world to celebrate women for the indelible roles they play in our society.

Dynasty Real Estate Parleys Customers

The Dynasty Real Estate (DRE) recently hosted its agents in a meetand-greet session on the rooftop of its boardroom apartments in Lagos. DRE explained that the meeting was an evening of cordial conversation and enlightenment. The one-hour event was held in partnership with Abbey Mortgage Bank who had come to enlighten agents on the availability of diﬀerent mortgage opportunities for prospective DRE customers. The conversation was handled by the Group Head, Sales at Abbey Mortgage, Princewill Amadi. According to the Managing Director of DRE, Olaposi Lawore, the evening was designed to deepen the relationship between DRE and its agents and to intimate them on the new projects the ﬁrm is currently executing. The event was attended by tens of property agents in Lagos who asked clarifying questions about the business and margins.

LAPO Marks Global Money Week

LAPO Microfinance Bank Limited recently has joined other financial institutions and stakeholders around the world to promote the 2021 Global Money Week (GMW) with the theme: ‘Take Care of Yourself, Take Care of Your Money.” Speaking to Journalists over the weekend, the Head of Communications and Branding, Oluremi Akande said: “LAPO has been at the forefront of economic, social empowerment and financial literacy in Nigeria for over 30 years. “The GMW presents yet another opportunity to create awareness about money and empowerment, LAPO MFB has deployed resources in commemoration of the Week to achieve top of mind awareness and engagement in Nigeria. ‘In celebration of this year’s GMW, we have created and deployed various activities aimed at promoting the GMW through the deployment of financial literacy advert on its social media platforms, banner advert display our website, in-branch sensitization, webinar, daily financial email nuggets, school visitation and branded theme look among other things. “LAPO MFB is committed to her over 30 year’s mandate of social economic empowerment of members of low-income households and owners of small and medium scale enterprises.”

“Having made significant progress, preparatory activities for the Sealink project have reached advanced stage. The project has consummated a consortium partnership with some private sector maritime operators” MD, NEXIM Bank,

Continued on page 24

Mr. Abba Bello

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BUSINESSWORLD FG URGED TO DEVELOP EFFECTIVE SOCIAL PROTECTION SYSTEMS by the outbreak of COVID-19 and the subsequent lockdown in Nigeria is that of the inadequate health insurance coverage in the country. An effective healthcare system depends on quality, accessible, and affordable health insurance,” it added. The findings of the study, however, revealed that only 17.7 per cent of respondents currently enjoy some form of health insurance while 10.9 per cent of respondents were enrolled under a health insurance scheme but complain of still having to make out-of-pocket expenses to meet most of their healthcare needs. Furthermore, it pointed out that the lockdown had a negative impact on children’s education. For instance, 67 per cent of applicable respondents indicated that their children education has been negatively impacted by the lockdown. The federal government had announced the closure of schools in the country in March 2020, and indicated that online learning platforms would be deployed to ensure that pupils and students continued to learn. REPORT: 5G TO BOOST GLOBAL ECONOMY BY $1.3TN

more remote workers exceed the average 9.2GB per month in Q2 2020 in download allowances. This may mean that operators have to adjust their service offerings to cater for users requiring higher monthly download limits than currently available.” 2020 was tipped to be a major year for 5G, but the pandemic caused some delays with several European countries opting to postpone 5G spectrum auctions last spring and summer. 5G has also been fraught with political spats and concerns over security, most notably tensions between the US and Chinese telecommunications equipment maker, Huawei. The United States, and specifically the Trump administration, had accused the company of ties to the Chinese government and of carrying out espionage.

NEWS

29 States Yet to Implement N145 RoW Fee Emma Okonji Over one year after the 36 state governors agreed to implement the unified rate of N145 per linear metre fee for Right of Way (RoW) in the laying of fibre optic cables for broadband deployment, 29 states have refused to implement the agreement, a situation that is slowing down the pace of broadband deployment and penetration in the country. The Minister of Communications and Digital Economy, Dr. Isa Ibrahim Pantami, who delivered the keynote address at a recent virtual stakeholders’ forum, organised by the Association of Telecoms Companies of Nigeria (ATCON), said few days ago, the Kaduna State Governor, Nasir El-Rufai, gave his consent in writing, to begin the implementation of the agreement in the state. The recent development would take the total number of states implementing the new RoW fee to seven, which includes: Kaduna, Katsina, Plateau, Ekiti, Kwara, Anambra and Imo. Worried about the development, Pantami appealed to the 29 state governors to consider implementing the new rate as earlier agreed, to enable Nigeria meet its 70 per cent broadband penetration target by 2025, as enshrined in the 2020-2025 Nigerian National Broadband Plan (NNBP). According to the Minister, he had engaged with the members of the Nigeria Governors’ Forum (NGF), facilitated by its chairman, the Ekiti State Governor, Dr. Kayode Fayemi, on the 22nd of January 2020, and they agreed on the unified rate.

“At that meeting, I made a presentation on the benefits of broadband and requested the buy-in of the governors for the implementation of Broadband Plan and the Digital Economy Policy for a Digital Nigeria, and the governors unanimously agreed to adopt a maximum of N145/ linear metre. “Some of the governors have even waived this amount altogether. Many of the governors have begun full implementation and some have notified us in writing. “We received reports that some states have introduced some extraneous charges that have increased the charges beyond the amount agreed. We are discussing with states involved in such cases,

with a view to addressing the disparity,” Pantami said. Before the January 2020 meeting there was disparity in the fees charged by state governors in their respective states, which range between N500 to N6,000 per linear metre. Pantami’s keynote address, which focused on the importance of broadband in national development, also assessed the level of broadband penetration in the country and how to achieve the country’s broadband strategies, which seek to deliver data download speeds across Nigeria at a minimum of 25Mbps in urban areas, and 10Mbps in rural areas, with effective coverage available to at least 90 per cent of the population and penetration rate of 70

per cent by 2025 at a price not more than N390 per 1GB of data. The NNBP also targets the deployment of nationwide fibre coverage to reach all state capitals, and provision of a point of presence in at least 90 per cent of local government headquarters. It also targets tertiary educational institutions, major hospitals in each state and fibre connectivity at statutory rates of N145/meter for Right of Way (RoW). President of ATCON, Ikechukwu Nnamani, in his opening remarks, said: “The development of a solid digital economy rests on the foundation of a well distributed broadband infrastructure and involves the convergence of all technology types and classes of service.

“To this end we have brought together key industry leaders cutting across the nine sub-group of ATCON’s membership to discuss and strategise with the leadership of the public sector on the best ways to achieve an accelerated implementation of the Nigerian National Broadband Plan.” Chairman of MTN Board of Directors, Dr. Ernest Ndukwe, said the private sector must be actively engaged in achieving the Nigerian National Broadband Plan, because broadband is the driver of economic growth and development. He stressed the need for more telecoms infrastructure rollout by telecoms operators and the need for funding of broadband rollout in rural areas by government.

REWARDINGCUSTOMERLOYALTY

L-R:BrandAmbassador,Budweiser,EbukaObi-Uchendu;MarketingDirector,InternationalBreweriesPlc(IBPLC),asubsidiaryofAB-InBev,TolulopeAdedeji; BudweiserSmoothpromoMercedesBenzWinnerfromAkwaIbom,UdochukwuOsuagwuand SalesDirector,IBPLC,CarlosCentinho,attheBudweiser SmoothpromoprizepresentationheldinLagos...recently ETOP UKUTT

Adesina, Others Urge Biden to Lead Efforts to End Global Hunger James Emejo and Folalumi Alaran in Abuja The President of African Development Bank Group and winner of the 2017 World Food Prize, Dr. Akinwumi Adesina, has urged the United States President Joe Biden to use appropriate policy measures to end global hunger. The AfDB president joined other World Food Prize laureates to call for action on food security in the world. The World Food Prize was created by Nobel Peace Prize laureate Norman Borlaug in 1986 to recognise scientists and others who have improved the quality and availability of food.

The $250,000 prize is awarded annually by the Des Moines, Iowa-based World Food Prize Foundation, which gets support from more than 80 companies, foundations and individuals. Adesina said: “For millions of poor people around the world, the risk of dying from hunger is greater than dying from COVID-19. Without food, medicines don’t work. Food and nutrition are the vaccines against hunger. Let’s vaccinate the world against hunger.” In a letter to the US president, a group of 24 scientists, economists, researchers and other past winners of the World Food Prize, including Adesina, had described America’s

role in tackling the scourge of global hunger as foundational, urging Biden to re-establish America’s global leadership to end hunger, play a leadership role in the upcoming UN Food Systems Summit and other global initiatives, refresh US evidencedbased policy and investment to achieve the goal of ending hunger and expand the highly successful USAID Feed the Future Initiative and Innovation Laboratories to reach more countries. The campaigners said: “As the world staggers out of COVID and into the light of 2021, we seek to illuminate our collective path towards 2030, we urge the Biden-Harris Administration to

focus on the promise to Build Back Better in transforming our food systems. “The United States leadership in ending global hunger is imperative and must be backed by bold actions and your personal commitment for the U.S. to engage on major global initiatives. Nothing is more important than ending global hunger and malnutrition.” According to the letter: “The opportunity for renewed U.S. leadership to transform food systems has never been greater. The appetite of partners around the world to work with the US in both the public and private sectors is strong. “We urge the Biden-Harris

Administration to seize this moment and invest in development and cooperation to achieve zero hunger by 2030. American leadership on getting food systems right will inspire and embolden others to join forces to end hunger, counter climate change, generate jobs, and promote responsible stewardship of the environment. “Evidence suggests that increased investment in food security is in the U.S.’s interest. Supporting economic growth globally leads to increased trade for American entities, increases stability in conflict areas, builds bonds of solidarity and trust that are the bedrock of diplomacy, and alleviates the suffering of the most vulnerable.

‘HowNigeriaCanKeyInto$3.4tnProjectedOpportunities inAfCFTA’ Chinedu Eze Group Business Editor

Obinna Chima

Capital Market Editor

Goddy Egene

Comms/e-Business Editor

Emma Okonji Asst. Editor, Money Market Nume Ekeghe Senior Correspondent

Raheem Akingbolu (Advertising) Correspondents

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

Nosa Alekhuogie (ICT) Peter Uzoho (Energy)

The National Association of Nigeria Travel Agencies (NANTA) said it has unveiled plans to enable Nigeria benefit from the projected $3.4 trillion Gross Domestic Product (GDP)-rated Africa Continental Free Trade Area (AfCFTA) Initiative. NANTA said the country could benefit from the anticipated $3.4 trillion through the collaboration of the Nigerian aviation industry with four major African carriers: Kenya Airways, Egypt Air, Ethiopian Airlines and Rwanda Air. NANTA also said that an organised trade and tourism marketing among African nations facilitated by well-thought out

aviation connectivity, African Union passport and synchronised visa regime, among nations under the AFCFTA deal, could change the economic narratives of the estimated 1.3 million population of African nations. NANTA President, Mrs. Susan Akporiaye, told journalists in Lagos, that the trade pact had the potential of lifting out the vulnerable poor, particularly African women, who she said were about 70 per cent the informal sectors in Africa out of poverty. NANTA boss said she had unveiled the association’s ‘Africa to Africa Tourism Promotion’ campaign to the management of the four aforementioned airlines at different meetings in Lagos.

She reiterated that with the advent the African Union passport and NANTA driving the tourism and culture content initiative in collaboration with the airlines, would promote and market African tourism economy, create jobs, engender peace and integration. Speaking during the visit to Kenya Airways management in Lagos, Akporiaye called for a detailed and focal attention on Kenya tourism within the AfCFTA agenda while NANTA would push the frontiers of its marketing and promotion. She believed Kenya Airways could be a veritable partner, in the association’s drive to create jobs across and within the continent

through intra-continental tourism initiatives. Country Manager, Kenya Airways, Hafis Balogun in his response, lauded NANTA’s campaign. He assured that Kenya Airways would partner with the association to give a different holiday experience to Nigerians and Africans who are interested in visiting Kenya. “We have taken note of the desire to rebrand and drive the Kenya Holidays with safari, beach shopping tourism products enabled agenda, and with your deserving collaboration, Kenya tourism would rebound fast,” he said. At Ethiopian Airlines, Akporiaye reiterated the need for intra-African

tourism rebirth and challenged the management to facilitate the promotion of Ethiopian religious tourism and its agricultural offerings. General Manager, Nigeria, Ethiopian Airlines, Mr. Shimeles Arage, said the airline had been in the forefront of African connectivity and integration. At Rwanda Air, the NANTA boss said the airline had shown capacity and discipline since bestriding the African aviation space, hence the need to be part of the campaign. Egypt Air, General Manager, Nigeria, Mr. Muharram Rahman, said the airline was determined to put its strength and experience behind the NANTA Africa Tourism Promotion campaign.

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Experts Outline Strategies on How Women Can Build Wealth Nigerian women have been advised to explore multiple investment opportunities in order to build sustainable wealth. The advice was given by Yewande Sadiku, Osayi Alile and Teju Abisoye. They gave the advice at a webinar organised by Polaris Bank recently, as part of activities to celebrate women in line with the International Women’s Day celebration marked recently. A statement from the bank quoted Sadiku, who is the Executive Secretary of Nigerian Investment Promotion Commission (NIPC) to have said: “For women to attain financial fitness, they have to build passive income and focus on multiple investment streams to realise the future of their dreams.” Drawing a metaphor, the NIPC boss and erstwhile senior investment banker explained that, “In building passive income, you shouldn’t eat your seed, rather, plant it and let it grow to a tree, so you can have many more to eat, plant and grow.” Using personal examples to illustrate how she built her wealth starting out as a young banker at age 20, Sadiku explained that she seized the moment and had a vision of the life she wanted to live and started building passive income through multiple investment windows; setting aside a chunk of her earnings in buying stocks, investing in mutual funds as well as putting away her bonuses and salary increments in fixed deposits, which she later invested in landed properties and real estate. On her own part, Alile, who runs Aspire Coronation Trust

Foundation, tasked Nigerian women to start saving from the moment they become conscious of the need to attain financial fitness. She urged them not to be in unnecessary competition that brings little or no value in the long run. In her own presentation, Abisoye, who is the CEO of Lagos State Employment Trust Fund (LSETF), said at her agency, they observed that women-run businesses have a larger impact on the community and society; adding that it was possible for women businesses to drive impact, while making a case for empowering women for greater and more widespread economic impact. She advised young ladies – either in paid or self-employment to start with the end in mind, stating that, “once you begin with the end in mind, you are bound to succeed ultimately, even as she disclosed that there are multiple sources to fund a start-up as a budding entrepreneur. Earlier in his welcome address, the acting Managing Director/CEO of Polaris Bank, Mr. Innocent C. Ike, explained that that the webinar was put together to address pertinent issues that border on ‘Women and Growing Wealth’. Ike noted that women empowerment and development were core to our sustainability goals and a key focus area of, “our social investments and business objective as a Bank. We have had some interventions in this area for impact.”

US Agencies, NLNG Partner on Malaria Control Emma Okonji Nigeria LNG Limited (NLNG) has signed a five-year memorandum of understanding (MoU) with two US development agencies to make Bonny Island malaria-free and achieve HIV epidemic control. Under the MoU, the agencies through the President’s Malaria Initiative (PMI), will provide technical assistance to the NLNG-led Bonny Island Malaria Elimination Project. The partnership seeks to bring malaria deaths to zero in the community of 300,000 and make the island Nigeria’s first malaria-free zone. US Ambassador to Nigeria, Mary Beth Leonard, represented the United States at the signing ceremony in Abuja, while NLNG was represented by Managing Director and Chief Executive Officer, Tony Attah. In his remarks, Attah said: “We are ready to put Bonny Island on the map as one of the first malaria-free communities in Nigeria and a reference point in the global eradication of the disease. “Malaria has negatively impacted health in Nigeria, so it is time to change the narrative and be free from the economic burden of this scourge so our resources can tackle other issues. “We hope to set a precedent for the private sector in achieving

the UN Sustainable Development Goals, which align with our vision of helping build a better Nigeria.” Administered by the US Agency for International Development (USAID), PMI works to reduce malaria-related mortality by 50 per cent across 24 developing countries through a rapid scale-up of proven and effective malaria prevention and treatment measures. Two PMI activities already operate on Bonny Island. The MoU also includes a partnership between NLNG and the US Centers for Disease Control and Prevention (CDC) through the US President’s Emergency Plan for AIDS Relief (PEPFAR) regarding support to the HIV/AIDS Surge Project, which focuses on control of HIV on Bonny Island. The partnership is expected to improve HIV case finding, access to antiretroviral treatment, diagnostic, and preventive services for those affected by HIV on the island. The Surge Project is coordinated by the Institute of Human Virology Nigeria in Rivers State. According to Leonard, “Reducing the burden of malaria and HIV/AIDS on Bonny Island are goals now within our reach. This partnership moves us closer to achieving those goals. I commend the efforts of NLNG to meet its social responsibility in helping the economic climate of Bonny Island by improving the health of its residents.”

DPR Seals Seven Retail Outlets in Delta Sylvester Idowu in Warri Seven petroleum retail outlets have been shut down at Oleh in Isoko South Local Government area of Delta State by officials of the Department of Petroleum Resources (DPR), Warri Zonal Office over sharp practices. Speaking with journalists at the end of a monitoring exercise in Warri, the Assistant Director, Operations, DPR, Warri Office, Mr. Olakanmi Ayodeji said the erring fuel stations were sealed in operations that started last Tuesday. He said the retail outlets were sanctioned in Oleh, the administrative headquarters of Isoko South Local Government

Area of the state. According to him, the stations were: Robor Nig. Ltd; Felimbuk Nig. Ltd; AP Oleh service station; Eskom Electrical Ltd; Mama G Divine Project; Dipaag Oil and Gas and another Felimbuk Nig. Ltd. Ayodeji said they were sealed over various offences bordering on under-dispensing, operating without valid licenses and hoarding. He said the surveillance team visited 17 outlets in the Ughelli/ Isoko axis and shut down seven stations adding that four out of the remaining 10 fuel stations were without products. The surveillance team of the regulatory agency was led by Mr Gusau Sale, Chief Technical

Officer of the DPR, Warri. Ayodeji said the agency would continue to sustain its surveillance across the state to check sharp practices among the marketers. The assistant director said the offenders would pay stipulated fines to the Federal Government before they will be reopened for business. “DPR sealed about seven petrol stations over various offences ranging from under-dispensing, operating without valid licenses and hoarding. “The exercise was successful and we will continue to do follow up in the area and other parts of the state. “We already have in our guidelines fines stipulated for the

various offences to be paid. Once they pay, we go and unsealed and monitor them to ensure they do not under-dispensed to the public. “We do not want the public to be shortchanged, we make sure they sell the right product, quantity and quality. That is the essence the surveillance,” he said. Ayodeji warned marketers against hoarding fuel, noting that federal government had said it would not increase the petroleum pump price. “Our people have been to the depots and trucks are loading, so marketers should not hoard product, anyone caught will be dealt with according to the DPR rules and regulations,” he said.

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L-R:SpecialAdviseronOperationsLASAAMr.AdegbolahanDixon;ManagingDirector,Mr.AdedamolaDocemoandDeputyGeneralManager,Corporate Communication&Strategy,Mr.Temitope AkandeduringanawarenessandregistrationcomplianceexerciseoftheagencyinLagos…recently

UBA America to Facilitate Trade Between North America, Africa, Says CEO UBA America, the United States subsidiary of the United Bank for Africa (UBA) Plc, has pledged its continuous commitment to facilitate trade and investment between North America and the African continent. Speaking recently from its office in New York, the Chief Executive Officer, UBA America, Ms. Sola Yomi-Ajayi, disclosed that the bank’s major focus and strategy was to enable the flow of development capital, in line with its commitment to supporting companies achieve their aims of international trade between both continents. UBA America is the only sub-Saharan African bank licensed to operate a bank in the United States of America (USA) and armed with the fact that its parent company, UBA Group has

operations in over 19 African countries and major financial capitals, continuously hinging on its pan-African strength and global connectivity to support African and international businesses. Speaking specifically on the subsidiaries’ activities and how UBA America has worked to solidify ease of operations of businesses, multinationals and parastatals in diaspora, Yomi-Ajayi explained that the bank ramped up its services and invested in necessary technology needed to propel business growth of these organisations. She said: “At UBA America, we deliver treasury, trade finance, and correspondent banking solutions to a broad range of customers, including Sovereign and central banks; Corporates, Financial

institutions, Foundations and Multilateral and development organisations. “Overtime, we have leveraged our knowledge, capacity, and unique position as part of the international banking group - UBA Plc - as we seek to provide exceptional value to our customers around the world. With its specific focus on being an enabler of international development organisations, she noted that UBA and indeed UBA America has been working with corporate entities, financial institutions and development organisations on the continent, across the bank’s footprints, leveraging digital banking solutions to meet their needs. Continuing, she said, “Our focus viz-a-viz our presence in the US is

to support American institutions that are operating in Africa. We work with these institutions to achieve their Corporate Goals on the continent, through the provision of innovative Trade, payments, correspondent banking and treasury solutions. It is no wonder therefore that UBA America’s CEO, Yomi-Ajayi who has headed the bank’s United States operations for several years, was appointed alongside 10 other members into the of United States Export-Import Bank (US EXIM) Sub-Saharan Africa Advisory Committee. Among other activities, the committee is expected to advise the EXIM Board on the development and implementation of policies and programmes designed to promote its’s activities in sub-Saharan Africa.

Shop Afrika Unveils Digital Marketplace Ugo Aliogo Shop Afrika has unveiled a new digital marketplace with the goal of bringing local markets into the E-commerce platform. Speaking during a media briefing in Lagos, the Founder, Shop Afrika, Adeoye Fadeyibi, said the platform is a digital marketplace providing seamless engagement between sellers and buyers seeking to make transactions. He also stated that the

platform is one of a kind as it allows for customers to buy items online exactly as they would offline. He further stated that ShopAfrika has on its platform, Aba New Market, Onitsha Main Market, Alaba international Market, Ladipo Market, Ariaria Market and Nnewi Market, adding that on platform customers are able to buy in bulk, haggle and pay by installments. Fadeyibi said the platform seeks to give customers the real shop from home experience. He noted that the value of pushing

the market to Nigerians and across Africa’s large scale commercial shopping in Nigeria has had issues from distance, logistics, communication issues, trust, and security issues plaguing it. According to him, “Shop Afrika’s solution is not only to solve convenience and logistics issues, but the brand also seeks to offer unprecedented solutions like financial support, verified merchants, solving the language barrier by incorporating indigenous languages, wide reach through a market agent system

and technology innovations such as virtual reality to improve the customer shopping experience and high-level awareness for big business that do not have online presence. “ShopAfrika is a platform that has the vision to revolutionise the customer shopping experience in the market. “ShopAfrika’s vision is to be a platform where every barrier to seamless and convenient shopping, no matter the quantity is removed, and the customer feels truly satisfied.

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VFD Group Highlights Features of VBank’s Version 3.0 The VFD Group has upgraded its V Bank app, a product of VFD Microfinance Bank, to what it described as the version 3.0 of the digital payment solution. Some of the features of the version 3.0 include: Debit card management, QR Code, proximity of payment, advanced budgeting, recurring transactions, smart budgeting, among others. With the upgraded payment solution, customers can request, activate, enable/ disable and change pins for physical or virtual V cards. They can also save their card details from other banks.

In addition, with the version 3.0, customers can send and receive funds using a unique QR code generated in-app, even as it also allows for easy money transfer to people nearby as long as they have either the proximity payment feature in-app or their NFC turned on. No need to ask people for their account numbers. Speaking during a virtual media briefing, Senior Product Manager for V Bank, Ebere Ahotu said the upgrade was to ensure that customers get the desired convenience when using the app for transaction. “Apart from the standard

feature of been able to seamlessly open account and register on the app in less than a minute without any paper work, there is also the feature of proximity in payment. “If you want to receive payments from someone without having to share your account number, the transaction can happen on the app without both parties sharing account numbers,” he added. Also, Head of Engineering at VFD Tech, Osifo Anosike, said the payment solution was introduced to ensure seamless banking transactions. “We upgraded it based

IATA:AfricaRecordedSixAirCrashesin2020 Chinedu Eze The International Air Transport Association (IATA) 2020 Safety Report has disclosed that despite the low global aircraft traffic due to the coronavirus lockdown, Africa still recorded six accidents in the year under review. The report stated that two of the accidents were fatal, both involving turboprop aircraft, adding that this was same number of fatal accidents that occurred in 2019. IATA stated that the focus in Africa continues to be on accelerating the implementation of the International Civil Aviation Organisation’s (ICAO) safety-related standards and recommended practices (SARPS). “At year-end 2020, some 28 African countries (61 per cent of the total) had at least 60 per cent SARPS implementation, unchanged from 2019.

“While we recognise the extraordinary challenges in 2020 that touched on all aspects of aviation, we hope that we will see additional movement in this number as the pandemic recedes,” said IATA’s Director-General, Alexandre de Juniac. The body said it continues to work closely with all key stakeholders in the region. IATA and African Airlines Association (AFRAA) joined forces with the African Civil Aviation Commission (AFCAC) on a three-year safety project to provide technical support to the African air operators of states party to the Single Africa Air Transport Market (SAATM) to ensure they achieve and maintain global aviation safety standards. The total number of accidents decreased from 52 in 2019, to 38 in 2020. The total number of fatal ac-

cidents decreased from eight in 2019 to five in 2020. Also, the all-accident rate was 1.71 accidents per million flights. This was higher than the 5-year (2016-2020) average rate, which is 1.38 accidents per million flights and IATA member airlines’ accident rate was 0.83 per million flights, which was an improvement over the five-year average rate of 0.96. IATA said total flight operations reduced by 53 per cent to 22 million in 2020 and fatality risk remained unchanged compared to the five-year average at 0.13. “With a fatality risk of 0.13 for air travel, on average, a person would have to travel by air every day for 461 years before experiencing an accident with at least one fatality. “On average, a person would have to travel every day for 20,932 years to experience a 100 per cent fatal accident,” it added.

Soil Infertility Threat to Food Security, Says OCP Africa James Emejo in Abuja Leading fertilizer company, OCP Africa, has attributed the country’s low average productivity per hectare of farmlands to poor soil conditions. The firm’s Country Manager, Caleb Usoh, said one of the reasons for food insecurity and poverty within the farming population was poor soil quality. Speaking at the inception workshop and signing of a Memorandum of Understanding (MoU) between OCP Africa and the Nigerian Institute of Soil Science (NISS) to improve soil fertility in the country, Usoh said, the collaboration marked the kickoff of the “Disseminating Innovative Technologies for Managing Problematic Soils in Nigeria” project. Represented by the Production and Technical Manager of OCP Africa, Oluwatoba Asana, Usoh pointed out that the outcome of the initiative is expected to impact on the growth of agriculture generally. He said: “We hereby call on all stakeholders in agriculture, governments, donor

and developmental agencies, farmers, and the farming community, to support this laudable project as it requires collective efforts to achieve the aim of this project.” According to him, the project aligns with numerous other OCP Africa farmer centric projects aimed at bringing precision to the practice of agriculture in Nigeria and Africa as a whole. The country manager said some of its farmer-centric projects included the OCP school lab, soil survey and specialty fertilizer development, digital soil map and enhancing distribution of farm input to underserved farming communities through our farm and fortune hubs across the country. Usoh said: “We realised that beyond the supply of fertilizers and other farm inputs, there is the need to bridge the education gap by providing our extension workers with the necessary capacity to guide our farmers. “This includes, but not limited to, knowledge and management of problematic soils via sustainable agronomic practices. “We appreciate our technical partner - the Nigerian

Institute of Soil Science (NISS) for proposing this project and offering to provide all necessary technical support towards making this project a reality. “We as well use this opportunity to assure them of our commitment towards the realisation of this project and partnership for future initiatives aimed at improving agriculture in Nigeria.” He also expressed gratitude to the Federal Ministry of Agriculture and Rural Development, especially the Department of Farm Input Support Service for the enormous support towards the project. He added that the workshop would proffer workable solutions towards solving the issue of problematic soils, so, “our farmers can be happy with their yields. We feed the soil to feed the planet.” He said: “Management of the problematic soils should be directed towards enhanced crop productivity either through addition of soil amendments to correct the anomalies or by manipulating the agronomic practices depending upon the climatic and edaphic conditions.

on based on feedback that we got from our customers. There is a lot of innovation going on around the security of the app as well as to make banking experience seamless,” he explained.

The Public Relations and Communication Manager at VFD Group Plc, Lolade Nwanze, revealed that the V bank app was launched in March 2020, as a digital bank. In the past 10 months, it

has acquired nearly 40 million users and its users are mostly between age 21 and 45 years and spread across Nigeria. Its active users are mostly in Lagos, Anambra, Abuja, Port Harcourt and Enugu.

MSMEs Move to Improve Contribution to GDP Ndubuisi Francis in Abuja Micro, Small and Medium Enterprises (MSMEs) in the country have moved for greater stake in the economy in a bid to improve their contribution to the country’s Gross Domestic Product (GDP). Speaking at the first strategic planning meeting of the Forum of Micro, Small and Medium Enterprises Business Membership Organisations (FOMSBON) in Abuja at the weekend, its Chairman, Board of Trustees (BoT), Dr. Albert Akinyemi observed that globally, MSMEs are regarded as the engine of economic growth. He, however, regretted that in Nigeria, the reverse was the case as the sub-sector is renowned only for its marginal contribution to the national economy, expressing the need to change the ugly trend. He said: “There is need for us to change the ugly story. That is why the Forum of Micro, Small and Medium

Enterprises Business Membership Organisations has come on board. “The organisation is aimed at institutionalising the MSMEs’ sub-sector in Nigeria as it has been done in in the developed economies of the world, where MSMEs as a discipline is being taught in the Universities, has a say in the parliament with a database for projection and planning with high priority for adequate research.” Akinyemi noted that it was important for both public and private sectors to join hands in evolving enduring solutions to the seemingly intractable MSMEs’ economic problems, adding: “Our togetherness would give us formidable strength. This is because a house divided against itself cannot stand. “Much as the government may want to render help for the MSMEs operators through the provision of policies and regulations that would be favourable for the growth and

development of the MSMEs sub-sector in Nigeria, however, we must first put our house in order. “Though informal sector, we believe we should formalise our orientation in a way that will allow the public sector see seriousness in our operations.” In his remarks at the meeting, the Director-General, Raw Materials Research and Development Council (RMDC), Prof. Husseini Doko Ibrahim, assured of his organisation’s continued support and assistance to enable FOMBSON achieve its objectives. Ibrahim, who was represented by RMDC’s Director, Industrial Extension Services, Dr. Bayo Olugbemi disclosed that the Council has provided a fully-equipped ultra-modern secretariat for FOMSBON. He stated that most of the programmes of the RMDC were geared towards supporting the MSMEs, adding that there are no fewer than 34 of such strategic projects.

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NESG Calls for Application for Bridge Fellowship Programme Ugo Aliogo The Nigerian Economic Summit Group (NESG) in conjunction with LEAP Africa has announced a call for application for the NESG Bridge Fellowship. The Bridge Fellowship is a merit-based fellowship jointly designed and administered by the NESG, a private sector Think-Tank and Policy Advocacy Group, and LEAP Africa, one of the youthfocused leadership development non-profit organisation in Nigeria. According to a statement, the fellowship was initiated in 2019 by the Board of Directors of the NESG to celebrate the 25th Anniversary of the Nigerian Economic Summit (NES#25) with the goal to equip a new cadre

of young visionary leaders with leadership, research and policy advocacy skills to contribute to policy reform in diverse policy areas. It further explained that the fellowship programme would admit 30 mid-level professionals between the ages 22 to 35, who have demonstrated interest in research, public policy, community development, social work, business and/or social entrepreneurship. According to the statement: “The professionals would be drawn from the academia, private, and public development sectors and across the six geopolitical zones in Nigeria. “They would go through a stringent selection process with two levels of review where the

review panelists will assess their applications, curriculum vitae and written essays. “The NESG bridge fellowship is designed to inspire and equip a new generation of young visionary Nigerian leaders, with requisite skills to carry out policy-oriented research and advocacy for national transformation. “Selected participants would go through a rigorous and engaging capacity development process where they will contribute to knowledge and policy at the National level. “The selected bridge fellows will be matched to the policy commissions of the NESG to function in the areas of policy, research and leadership and will also be required to carry out a social change project.”

Sanusi, Others to Discuss Fourth Industrial Revolution at ICAN Conference The former Governor of Central Bank of Nigeria and former Emir of Kano, Alhaji Sanusi Lamido; the Executive Chairman, Federal Inland Revenue Service (FIRS), Mohammed Lami and Flutterwave boss, Olugbenga Agboola; are some of the eminent personalities will speak at the 50th Annual Conference of the Institute of Chartered Accountants of Nigeria (ICAN). Others are the President of the International Federation of Accountants (IFAC), Mr. Allan Johnson and Minister of Communications & Digital Economy, Dr. Isa Ali Pantami. A statement revealed that the theme of the conference which holds from April 5th to 9th, 2021, in Abuja is “The 4th Industrial Revolution: Boom for the Accounting Profession and Panacea for Pandemic.” It stated that the theme was specifically chosen to discuss the effects of the 4th Industrial Revolution on the accounting profession. The lead paper entitled “Digital Revolution: The Accountancy Profession and the Future of Work,” to be taken by the IFAC President, would focus

on how Nigeria could benefit from the fourth Industrial Revolution (IR) which is driven by rapidly changing digital technologies which has continued to transform societies, economies, professions and organisations. The Plenary session two entitled “Redefining a New Model of Accountable Leadership in Nigeria in the 4th Industrial Revolution” would be delivered by Sanusi. The paper would examine how a digital Nigeria would drive accountable leadership. It would also make recommendations on how Nigerian leaders could quickly adapt to digital technologies. “Furthermore, this paper will demonstrate what accountable leadership will look like in a digital age as well as highlight how Nigeria, with a significant youth population can benefit from the ongoing digital revolution to harness the capabilities of the growing youth population like we have in the more advanced digital nations,” it added. “Taxation in a Digital Economy: Prospects and Challenges” is the focus of the third plenary session. It will be taken by the Executive Chairman of the FIRS, Mohammed

Nami. This paper will examine the prospects and challenges of taxation in a digital economy whilst evaluating the efficacy of the amendments proposed and effected to date by the National Assembly in Nigeria and the Organisation for Economic Cooperation and Development. “Other papers to be delivered include: Entrepreneurship: The Bane for the Development of Emerging Economies through Technological Advancements; Internet of Things: The role of Communications Companies. “Other prominent speakers billed to speak on the various topics associated with the conference are: Mr. Ben. Afudego, Partner, Consulting Leader West Africa, Ernst &Young; Mr. Joseph Tegbe, Partner, KPMG; Chief Judge, Borno State State High Court, Justice Kashim Zannah; Mr. Yomi Olugbenro, Partner, West Africa Tax Leader, Deloitte; Mr. Olubayo Adekanmbi, Chief Transformation Officer, MTN, Nigeria; Mr. Ademola Adebise, MD/CEO, Wema Bank Plc; and Mr. Femi Osinubi, Partner Technological/ Digital Leader, PwC, among other eminent professionals.”

Fintech Launches Solution to Drive Digital Transformation Emma Okonji Nigerian Fintech Company, Xerde Limited has rolled out an application, Tudo, which provides solutions to social funding while driving digital transformation and providing quality and accessible solutions to Africa. Founder of Xerde Limited, Khadijat Abdulkadir, while launching the solution in Lagos, said the public rollout came exactly a year after it first started operations. According to Abdulkadir, “Tudo is a Social Fintech which enables financial collaboration by providing users with an alternative way to achieve social financial goals by creating and then sharing them with contacts to achieve them faster with the contribution of each individuals’ extended network.” Speaking further, she stated that during the coronavirus outbreak in 2020, Tudo offered its technology to organisations engaged in the fight against the

virus and the mitigation of its social consequences. The fintech solution, she said, helped organisations to define goals and users to contribute to their achievements while providing a broader exposure of their missions to accelerate

givers engagement from all over the world. “To mark their first anniversary, Tudo will be opening up its app to all users globally providing an opportunity for all to create, share and collaborate to achieve both personal and group goals.

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Kuru: Recovering Outstanding AMCON Debts Challenging Ahmed Lawan Kuru is the Managing Director/Chief Executive Officer of the Asset Management Corporation of Nigeria. He was recently reappointed by the President for a second and final term of five years. Under his leadership, AMCON’s debt recovery system was strengthened, which has enabled the corporation to collaborate and perform more efficiently with asset tracing engagements. Kuru has served on the board of over 30 organisations and is currently playing key roles in several other organisations. He is an experienced corporate executive with proven leadership attributes, among other qualities. Prior to his appointment at AMCON in August of 2015, he served as the Managing Director/CEO of erstwhile Enterprise Bank Limited. In this interview, he speaks about activities at the corporation in the past five years, its debt recovery drive as well as its future. Obinna Chima provides the excerpts: you know, technology accounts for much of the economic and social progress of the past few centuries. The rate of technological progress influences economic growth and so we paid serious attention to that. Looking at what happened with the dawn of the dreaded COVID-19 pandemic, I can tell you that AMCON was one of the leading government agencies that did not gasp for air when organisations had to work from home as a result of the COVID-19 shut down. It was seamless for us during the period as our staff worked from home. We had our regular meetings and carried out our operational activities as if we were operating from our offices. Much later, we also changed the approach to more of enforcement from the older approach of negotiation and restructuring. We had to do that because the previous management dealt with the low-hanging fruits so to speak. Most of the debts we met on ground were hard-core, which required a new approach if they are to be realised. Therefore, we had a change in strategy, given the fact that we are fast approaching our sunset period, without any luxury of time. Therefore, we met a good structure on ground, which we built on.

ou have been in the saddle now in the past five years and has commenced another term in office, do you think rationale behind the enactment of the AMCON Act and the subsequent establishment of the corporation was justified? Yes, the rationale behind the enactment of the AMCON Act and subsequent establishment of the corporation have been justified. Recall, prior the establishment of the corporation, the Nigerian economy was in a dire state. There were foreign portfolio withdrawals of credit lines & investment from Nigeria; the stock market also collapsed leading to loss of about 80 per cent of its value and the banking Industry crisis deepened due to poor risk management that led to increase in the non-performing loans (NPLs) of the banks as a percentage of industry loans. At a point in 2009 NPLs as percentage of all bank loans was as high as about 37.25 per cent. I salute the courage and the wisdom of the Central Bank of Nigeria (CBN) for quickly intervening by proposing to the National Assembly the need to set up an Asset Management Corporation to stabilise the economy, which was the global trend at that time. Can you share with us the success of AMCON thus far; from its establishment till date towards executing its constitutional mandate? Like I said, setting up AMCON is a blessing to the economy of this great country. Despite the lingering economic challenges and deliberate tactics of some recalcitrant obligors, the Corporation has recorded quite a lot of successes. In the first place, we supported so many businesses immediately after the global economic crisis. Some of them are doing well now. The financial institutions were equally supported to avoid a systemic collapse. Some banks are operating today due to AMCON’s intervention in the industry. In terms of recoveries, so far, we have made a total recovery of above N1.2 trillion. We have sold assets worth about N500 billion and have resolved close to 5000 Eligible Bank Assets (EBSs). The corporation has paid over N2 trillion to the CBN. The fundamental objectives for the establishment of AMCON was to rescue commercial banks and some underlying strategic businesses in Nigeria from the brink of collapse in the aftermath of the global financial crises of 2008 through acquisition of non-performing loans and to dispose of the underlying assets in the most profitable manner. AMCON also had the mandate to recapitalise the banks and to recover the debts using the various resolutions mechanisms created under the Act, which without mincing words I can tell you have been executed effectively. As at today, AMCON has achieved the first mandate of purchasing the Non-performing Loans (NPLs) and providing liquidity to the commercial banks. We are currently focused on the second and most difficult phase of recovery and restructuring of the bad loans. Recall that AMCON acquired over 12,000 NPLs worth N3.7 trillion from 22 banks and injected N2.2 trillion as financial accommodation to 10 banks in order to prevent systemic failure. As a result of this intervention our current liability with CBN is around N4.7 trillion; while the sum of N2 trillion had been repaid so far. In the area of supporting businesses, AMCON has also done very well especially in the aviation and manufacturing sectors. Our intervention efforts in Arik Air with the support and collaboration of the federal government did a great service to the growth of the sector. A similar intervention in Aero Contractors also saved the airline from collapse. As a matter of fact, the Nigerian Civil Aviation Authority (NCAA) certified Aero, which

Kuru is under AMCON receivership to commence C-check maintenance services on Boeing series in Nigeria. This is a commendable feat in Nigeria’s aviation industry and there are several other companies that we have saved. Again, in an attempt to focus our resources on the recovery mandate, we have identified about 6,000 loans with outstanding balances below N100 million, which constitute only 20 per cent of our current portfolio. This portfolio has been outsourced to debt recovery agents under the Asset Management Partners (AMP) scheme, which has created huge employment opportunity for others. This has enabled the corporation to focus on fewer accounts, which make up 80 per cent of the portfolio. In our reckoning, if AMCON is able to resolve the nearly 2000 accounts it would have achieved more than 80 per cent of its recovery mandate. In line with our sunset period, we are tinkering with the idea of increasing the threshold of the AMP scheme to N1billion. We have also classified 350 accounts with current

Like I said, setting up AMCON is a blessing to the economy of this great country. Despite the lingering economic challenges and deliberate tactics of some recalcitrant obligors, the Corporation has recorded quite a lot of successes

exposure of over N3.2 trillion into a category referred to as Criticised Assets. We consider the resolution of these accounts to be germane to the success of AMCON’s recovery mandate. We give special attention to these accounts at top management level and develop strategies for resolving them. The largest concentration is in the energy sector, which constitutes 27 per cent. As we have always stated, one of the major challenges to AMCON’s recovery mandate is the slow pace of our judicial processes. However, we have continued to engage with the judiciary, and we believe that there is now greater awareness about the role of AMCON amongst the Judges at the trial courts as well the Justices of the appellate courts and they have been supportive. Just as it is with the judiciary, the media have come to understand that AMCON is fighting for the good of all Nigerians because recovery of these monies and its judicious application to the Nigeria economy will improve critical infrastructure such as roads, rail lines, security, power generation and distribution, mass housing and a whole lot of others. That is what we have been doing in a nutshell. On assumption of ofﬁce as MD/CEO of AMCON, what did you meet on ground in terms of structure and processes? For me no matter the process of any organisation, be it the systems, technology and people, the most important for me is the human capital that we met on ground. So, I will look at this question from that perspective. We met a team of workers who are dedicated, enthusiastic and ready to serve the nation by helping in restructuring of accounts and in the recovering of debts owed to the country by a few individuals. We saw the progress by previous Management and by laying solid foundation to build on. The next critical economic growth driver where we paid so much attention is technology. Again, as

The management you took over from played key role in the amendment of the AMCON Act as amended in 2015, which was just about the time Mr. President appointed your team. But you led the 2019 amendment. What would you say led to the second amendment of the AMCON Act? First, I must underscore the fact that it is not unusual to periodically review or amend the law that governs activities of any organisation. I am sure you have heard some complaints and concerns about even the Nigerian constitution and so on. No such document created by man is perfect so, the AMCON Act in itself was also not a perfect document. Those who drafted the Act knew that a time would come when there would be need for a review. AMCON obligors are tricky and are constantly trying to avoid, circumvent and totally deny commitments and obligations. In the course of trying to recover, we encounter several challenges and one of the greatest challenges we have encountered overtime is through the instrumentality of the courts. AMCON obligors know fully well that the corporation has a sunset date, so they get wiser by the day; deliberately hiding under the technicalities of the law to cause orchestrated legal delays. When you find yourself in that situation, what do you do as a government? Therefore, the Act was amended first in 2015, to address some of the encountered challenges, which the 2015 amendment thoroughly addressed. That done, the obligors changed to other tactics, which again necessitated another amendment in 2019. We are therefore grateful to President Muhammadu Buhari for signing it into law soon as it was presented to him by the National Assembly. What is your major concern with your recovery efforts and approaching sunset time? The whole objective of the government is to enable AMCON recover the loans bought from banks in order to settle our debt without recourse to taxpayer’s money, which is over N5 trillion as we speak. This is not the sort of additional burden we should pass on to the federal government now when the government is over stretched with funding other critical areas of our national development. We are also lucky the National Assembly through its committees fully understand what we do and the kind of support we require from them and they are always CONTINUED ON PAGE 29

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KURU: RECOVERING OUTSTANDING AMCON DEBTS CHALLENGING is involved. But to the glory God Almighty we have continued to remain sane and humble. My personal approach to life is simple. I always say we are not only accountable to Mr. President, Muhammadu Buhari who found us worthy to serve in this capacity as members of a team, and even reappointed us for a second term, we are also accountable to Nigerians and the Almighty. But like you rightly said, I do not envy the job myself because as humane as we have been and as compassionate as we have tried to be in handling some obligors, they have continued to spew and sponsor all manners of campaigns of calumny against the management team under my leadership, but we are not deterred. My consolation is that we are not doing anything that is outside of our scope. Some of our obligors, unfortunately, instead of focusing on settling their obligations have taken the matters personal, very personal. But we put our trust in God.

ready and able to provide the support. We fear that if at sunset AMCON is unable to recover the huge debt, it becomes the debt of the federal government of Nigeria for which taxpayers’ monies will be used to settle. The implication is that the public will be made to pay for the recklessness of only a few individuals who continue to take advantage of the loopholes in our laws to escape their moral and legal obligations to repay their debts. That is why our renewed strategy for recovery focuses more on enforcement. It has become clear to us that to attain the target as we approach sunset, we must redouble our efforts in the area of recovery. Interestingly, the AMCON Act anticipated a situation where we may need to enforce if negotiations fail. Negotiations have failed us and that is why you see more of AMCON enforcements in the news lately. It is the only way to bring these recalcitrant obligors to the table. With all the efforts that you have put in place including naming and shaming of the heavy debtors, the series of asset takeovers that you have done yet some obligors have remained recalcitrant, what would you suggest to the government going forward especially in line with sunset? We have said it severally that some of them borrowed the money from the banks with no intention to pay back, which was why we have been calling on the federal government to reconsider the reintroduction of the Failed Bank Act to make the operators also answerable. We shall continue to operate within the law and encourage that the debt obligations of the recalcitrant debtors follow them, whether in government employment or otherwise. It is not a bad thing to borrow money, but it is bad to avoid paying back. Government should not do business with those that cannot keep to commitment. We know things are hard, but commitment is commitment. At least, let us be talking and performing. We shall continue to pursue them through the instrumentality of the courts by being law abiding, although some of them want to avoid the law. The enormous challenges that you faced led to you changing your recovery strategy at some point. Would you say that change in strategy has eased the challenges AMCON hitherto faced as well as improved your recovery mandate? Our initial strategy was to negotiate with obligors, restructure and continue to wait on recovery. On some few cases, we even had to inject additional capital to support some of the businesses that are strategic to the economy. However, overtime we realised that such strategy will not work, and we may be unable to recover, given our sunset date. Let us not forget that some of these defaulters had been with the banks for more than five to ten years before being transferred to AMCON. Meaning if you can add that to ten years of AMCON, talking can no longer solve the problem, after many failed promises. The only way forward is enforcement. Therefore, we had to change our operational strategy. This new strategy gives support to enforcement and puts the AMCON on a position of strength because we do not have the luxury of time. Like I said earlier, all the low hanging fruits have been dealt with before we arrived leaving us with only the hardcore debts. It will interest you to know that we have been in court with some of the obligors for nearly ten years and we cannot continue to wait on their terms – mind you, some of them do not have any intention to pay back so you need some tinkering to force them to the table. Now, with the change in strategy, a lot is happening because we have made them uncomfortable just as we have made huge recoveries since we changed our strategy. The present management of AMCON under your leadership is ﬁve years old and your performance apparently must have led to your reappointment by President Muhammadu Buhari. What would you highlight as the highpoints of your stewardship as Managing Director/CEO? Like I mentioned earlier, there is no amount of investment in human capital development that is too much. Within the period of our assignment here, we have groomed a good number of competent and capable workforce that can compete with their peers anywhere in the world as far as asset resolution management is concerned, which is very good for the economy of our great country. We cannot over emphasise that fact. Our highpoint is our ability to strengthen our human capital assets, resulting in putting

Kuru in place a good and transparent structure that matches global standards and have tried to instill a culture of commitment to national service to fatherland particularly in our team of young and upcoming staff. We have strengthened our human capital assets, which has resulted in putting in place a straight process on ground to ensure transparent means of dealing with our activities. This has resulted in higher recoveries and resolutions. On the business side, we have intervened in quite a lot of businesses, witnessing return and sustaining job security and enhancing economic activity. We supported the establishment of the first MRO in Nigeria by Aero. We have succeeded in sensitising our stakeholders, the judiciary, National Assembly, the public as to the importance of our national assignment. They have provided tremendous support to us. Shortly after we assumed office, it was obvious that it would be difficult for AMCON to resolve the over 12,000 loans in our portfolio, so we came up with a scheme, which we christened Asset Management Partners (AMPs) to join us in the recovery drive. AMPs are consortiums with specialist skills required to ensure recovery and debt resolution, banking, legal, valuation and accounting. They began operations in May 2016 working together with AMCON to resolve the over six thousand accounts with loan balances of N100 million and below, which we firmed out to them. The thinking behind the establishment of the AMP scheme was strategic – AMCON is the first of its kind in our clime so we needed to create a team of professionals that can continued from where AMCON stopped at sunset. Any comparison between AMCON and similar institutions on the global stage and is there a different model of operation, which you would have opted for instead of the AMCON model? Our model is unique giving the peculiar situation we found ourselves at that time. However, as the corporation continues to restore the confidence in the financial system and indeed mindful of our sunset period, we needed to consider fine-tuning our approach/model and essentially, we considered a model close to the Korea Asset Management Corporation (KAMCO).

We cannot overemphasise how important the role of the judiciary is to the success of AMCON. A lot of our work depend on the judiciary and therefore we understand the critical part they play in ensuring we recover government debt in the national interest

There is no perfect model anywhere in the world. However, we have continued to strengthen our model given the peculiarity of Nigeria and the circumstances we find ourselves. The law setting up Asset Management Company is different in different locations. Our initial challenge has to do with the legal ownership of some of the assets. In other climes, that ownership was transferred with the enactment of the law. But here we have to go to the court because of the constitutional right of hearing. And also, the winding down laws are different. But we are working closely with our various stakeholders to ensure we focus on the objectives and protect public interest. The Presidency set up what it called the Inter-agency Committee on AMCON to complement the efforts of your corporation. Can you bring us up to speed with that committee and what it has done since it was set up? In September 2019, the Presidency graciously constituted a committee, which it christened ‘Inter-Agency Committee for the Recovery of AMCON Debts.’ The committee is comprised of eight key government agencies - Independent Corrupt Practices Commission (ICPC); Nigerian Financial Intelligence Unit (NFIU); AMCON; Nigeria Deposit Insurance Corporation (NDIC); Federal Ministry of Justice (FMoJ); Economics and Financial Crimes Commission (EFCC); the Central Bank of Nigeria (CBN) and the Department of State Services (DSS). The essence of the committee is basically to assist the corporation in its recovery efforts and pursue criminal lines where one exists. The chairman of the committee is the chairman of the ICPC. The committee is working seriously on identifying cases. A few strategic accounts are being reviewed by the Sub-Committee using an unconventional approach towards the recovery of the debts by preferring criminal charges against the obligors where criminal infractions have been identified. As a result, the Sub-Committee will not limit its review to the antecedents of the loan transactions but will extend the review into other areas such as tax compliance, the CBN prudential guidelines, filing of returns at the Corporate Affairs Commission (CAC) and other regulatory compliance requirements, which the obligors may have violated. Overall, the SubCommittee is focused on taking measures that will result in outright settlement or plea-bargain settlement between the obligors, the Federal Government and AMCON. The whole essence is to pay the debt and ensure non-occurrence of such malfeasance in the industry. A lot of Nigerians do not envy your job because it involves chasing ‘bad people’ who took money from the system with no intention to pay back. But here is Ahmed breathing down their neck to pay, which automatically makes you their ‘enemy’. How have you been able to balance your sanity doing this difficult assignment? I can tell you the assignment is not easy at all. As a recovery agency, our main objective is recovery from both distressed and also affluent members of the public. In both cases, it is a serious matter, particularly where enforcement

Nigerians are full of harsh words each time they talk about the judicial processes in the country, but you have always said they (the judiciary) are trying their best. However, AMCON alone has well over 3,000 cases in different courts so why would you say they are trying? We cannot over-emphasise how important the role of the judiciary is to the success of AMCON. A lot of our work depend on the judiciary and therefore we understand the critical part they play in ensuring we recover government debt in the national interest. We trust that our judiciary would continue to assist in granting accelerated dates for AMCON cases so that these obligors do not take advantage of our sunset date to walk away from their debt obligations. We still have rule of law because of the strength and independence of the judiciary. We should all continue to support them to be stronger and independent. We are happy with their support and understanding of the AMCON Act. As Nigerians, we must support the judiciary. COVID-19 is unarguably both a health crisis and an economic crisis, triggering a deeper global recession in 2020 and slower economic growth. Nigeria is part of the global economy, thus seriously affected. How does COVID-19 affect your operations and output? Coronavirus pandemic has had a monumental impact on the globe and Nigeria in particular. Not only has it adversely affected the global economy, but the entire health system of the world has remained on its knees. AMCON, as one of the institutions of the federal government that is saddled with the responsibility of revitalising Nigeria’s economy is not immune to this monumental global disaster. We are hit like every other sister agency, or organisation but, we did not allow that to deter us. Even during the pandemic, we were making recoveries. We have however taken drastic steps towards curtailing the spread of the pandemic as it relates to our workforce. As regards our business operations, we remain guided by the provisions of the Act (as Amended) and are mindful of our sunset date. We are also aware of the hardship caused by the pandemic on most businesses and indeed the economy at large, therefore the Corporation has been lenient towards deserving obligors that had hitherto shown commitment/seriousness towards resolving their indebtedness and we are complying with the COVID-19 protocols put in place by the government. AMCON was designed to last for a period of 10 years except the National Assembly thinks otherwise. But if AMCON sunset comes and the corporation is not able to resolve all the debts, what will be the next step forward? AMCON was not designed to last 10 years, but the funding model was projected to last 10 years depending on the situation of the economy. However, this is situation we do not want. Unfortunately for us, we have reached a stage in the operations of the AMCON that our future successes and achievements most certainly depends on the strategy of the law & law enforcement and its application. Unfortunately for us, besides the effort of our staff, progress is dependent on third parties like the judiciary substantially and other agencies of government. It is on that basis we sought for the amendment of the AMCON Act hoping that the amendments will curtail frivolous tactics employed by recalcitrant obligors under our judicial system and improve our debt recovery efforts. If AMCON fails to recover the outstanding debt, the whole thing will be a burden to all of us. The National Assembly is there to support all the way to the end. They are conscious of the issues at stake and are supportive.

MONDAY MARCH 29, 2021 • T H I S D AY

T H I S D AY ˾ Ͱͷ˜ ͰͮͰͯ

CITYSTRINGS

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

Reward for Excellence Rebecca Ejifoma writes that as TOSAM Integrated Services Ltd, a veterinary solutions provider, recently marked its 15th anniversary, it provided an avenue to reward some staff members who had exhibited diligence over the years

o mark its 15 years of remarkable, unflinching operations and generous contributions to the nation’s economy, TOSAM Integrated Services Ltd, a veterinary solutions provider, recently held a celebratory party at its Lagos office. Acknowledging its human resource as one of the sources behind the company's many successes, the 20 staff members of its 185 workforce, including both skilled and the unskilled, across the country, were specially celebrated at the party. Among its long list of staff, the firm appreciated and recognised six persons for their dedication and services from the last 15 to 10 years. At the mini party at its Lagos office at Oko Oba area, TOSAM Managing Director and Founder, Mr. Samuel Iyelolu, echoed the farm's drive to be a household name in Nigeria and beyond by capturing the West African market. From providing veterinary drugs, to products and advice to owners of companion animals and livestock, part of TOSAM Integrated Services include pharmaceuticals, veterinary, biosecurity products, concentrates, vaccines, feed additives, and poultry equipment. Others include day old chicks, turkey poults, table egg, hatchery services, point of lay, and consultancy services. Fifteen years down the line after its establishment, TOSAM prides itself as a solutions provider satisfying other veterinary firms, spurring and nurturing the spirit of entrepreneurship for many across the nation among others. To fulfil its roaster, TOSAM currently has distributors all over Nigeria. “Because apart from being into poultry farming, we are also one of the major distributors of veterinary products in Nigeria today. “We are all over Nigeria, not only South-west we have our distributors across the six geo political zone in all the states,” Iyelolu disclosed. Expressing optimism based on its track record, the MD posited that in five to 10 years, TOSAM is set to become a household name. “We are going into frozen chicken; we want everybody in his household to be eating chicken from TOSAM”,

The MD, Mr. Samuel Iyelolu and wife (ED), Toyin, ﬂanked by staﬀ members of TOSAM

The MD and ED ﬂanked by award recipients of TOSAM at the 15th anniversary in Lagos

envisaging that “In the next 10 years we want to see ourselves in West African region too". With degrees in Animal Science, Agriculture and a Masters Degree in Economics, Iyelolu’s firm is bent on being ahead of the pack in the veterinary

industry in the country and West Africa. While six staff was recognised with plaques and cheque at the celebratory party, they could not help but echo the name of the Executive Director and wife of the MD, Mrs. Toyin Iyelolu. For the workers, she gave that perfect

touch to the firm. Toyin enthused: “We provide employment, and so many of our suppliers are feeding from us. We have people supplying us from even shavings and they are making lots of money from it. “People are supplying us maize, yam other local ingredients and through it they are able to feed their family and put their children in school.” According to her, so many of their products are hot cake. “Sometimes we even run out of it; customers come on their own to request for our products because when they use our products they get results". Expressing excitements at their strides, the ED enthused, “I’m very happy; it is essentially the grace of God. God is the our number one and major supporter, then also we have community products that sell themselves.” While urging upcoming entrepreneurs in the veterinary and agriculture industry to start from the very little they have, TOSAM applauded teeming customers who graced the occasion.

Debola Ajayi: Building the Future of Global Business Rebecca Ejifoma

uilding a global company is a standard many businesses strive to attain, albeit, not all do, because running a global company involves strategic planning, deliberate positioning, and unequalled quality of service delivery. According to the Deputy General Managing Director of TransAlliance Group, Debola Ajayi, the impeccable growth of TransAlliance and its ability to build a successful group of companies with clients across the world has been largely due to its commitment to consistently deliver superior value to its clients. The deputy GMD conceded that a business desiring to operate in the global market should be aware that a higher level of competition exists as there are more companies offering similar services. He emphasised that to stand a chance at success in the international market, it is important to operate with globally recognised best practices. He said: “These standards must reflect a world-class level of operation, high quality products/services and a compelling

mission and vision.” In the words of Ajayi, it is paramount to understand the financial sector when looking to scale to the global market because the sector is constantly threatened with heightened risks and market/ regulatory pressures. Over the years, Ajayi continued, TransAlliance has built its reputation by tailoring its messages to suit a global audience. He noted also how passionate they are about investing in economies of underdeveloped countries through “Our businesses and our investments which has resulted in our accelerated growth”. Now, TransAlliance Group was founded in 2020 and has over 5,000 clients with about four investments made to date. The group has a wide network and has consummated transactions on a global scale across various industries. Its subsidiaries include TransAlliance Capital, where specialised support in the Foreign Exchange and Investment Banking sector is offered, and FAZO Travel and Hospitality Services Limited, whose primary focus is delivering in-depth and first-in-class tourism and hospitality services in Nigeria and abroad.

Debola Ajayi

MONDAY MARCH 29, 2021 • T H I S D AY

T H I S D AY ˾ Ͱͷ˜ 2021

BUSINESS/MONEYGUIDE

Improved Dividends Halt Bearish Trend at Stock Market Goddy Egene The stock market rebounded last week after seven consecutive weeks of depreciation as investors responded positively to the dividends declared by Dangote Cement Plc and Stanbic IBTC Holdings Plc. The market had depreciated for six weeks due to weak investors’ sentiments. However, respite came last week as the Nigerian Stock Exchange (NSE) All-Share Index rose 2.17 per cent to close at 39,216.20, while market capitalisation closed higher at N20.518 trillion. Analysts said investors raised demand for stocks as more companies announced their results, declaring juicy dividends and bonus shares. Specifically, Dangote Cement Plc recommended a dividend of N16 per share, while Stanbic IBTC Holdings Plc announced

a final of N2.70 and a bonus of one new share for every six shares already held. The shares of Stanbic IBTC jumped 30 per cent. However, market analysts said as the earnings seasons gradually come to an end, sentiments in the market would be influenced by developments in the economic landscape. They added that with the Monetary Policy Committee (MPC) meeting now out of the way, they expected investors’ attention to be focused on the bond auction results as they keep an eye on the movement of yields in the fixed income market. “As the full year 2020 earnings season gradually fades away, we expect investors’ sentiment to be influenced by developments in the macroeconomic landscape and corporate actions. “Notwithstanding, we advise investors to take positions in only fundamentally justified stocks as the unimpressive macro story

remains a significant headwind for corporate earnings,” analysts at Cordros Securities said. The value of trading also rose last week as investors committed N21.311 billion to 1.530 billion shares in 20,016 deals compared with N19.272 billion invested in 2.342 billion shares in 20,173 deals the previous week. The Financial Services Industry led the activity chart with 1.096 billion shares valued at N12.294 billion traded in 11,106 deals, thus contributing 71.6 per cent and 57.6 per cent to the total equity turnover volume and value respectively. The Consumer Goods Industry followed with 177.673 million shares worth N3.577 billion in 3,139 deals, while the third place was occupied by Conglomerates Industry, with a turnover of 99.609 million shares worth N216.997 million in 856 deals.

CardinalStone Capital Advisers Closes Maiden Private Equity Fund Goddy Egene CardinalStone Capital Advisers (CCA), a Lagos based private equity fund manager, has announced the final close of its maiden private equity fund, the CardinalStone Capital Advisers Growth Fund LP (CCAGF) at $64 million. The fund which recorded its first close in December 2018 and final close in September 2020, was established to support the growth and institutionalisation of small and medium sized enterprises (SMEs) operating in two of West Africa’s leading economies, Nigeria and Ghana. The CCAGF is a generalist fund that makes equity investments of $5 million – $10 million in high growth SMEs operating across a range of sectors which include industrials, agribusiness, consumer goods and services, education ,healthcare and financial services. CCAGF investors, which are a mix of commercial and development finance institutions

include Kuramo Capital, the UK Government’s CDC Group, FMO – the Dutch Entrepreneurial Development Bank, the International Finance Corporation (IFC, part of the World Bank Group), the Nigerian Sovereign Investment Authority (NSIA) and a number of high-net-worth individuals. Commenting, Co-Founder and Managing Director of CCA, Femi Ogunjimi, said: “We are pleased with the successful close of our fund in the prevailing challenging environment. We are very grateful to all of our Limited Partners for the resounding support shown through the process; their support is an endorsement of our hands-on approach to building SMEs into sector champions.” Also commenting, Co-Founder and Managing Director of CCA, Yomi Jemibewon, said, “We are excited about our investments in both iFitness and AppZone. The founders of both businesses have ambitions to disrupt and consolidate key segments of their respective industries, and have done an amazing job

establishing solid foundations that complement CCA’s brand of bold, yet collaborative, investing. We look forward to partnering with more like minded founder/promoter teams towards building businesses with transformational impact across our target markets”. The fund has invested in two businesses, iFitness Center Limited and AppZone Group Limited, and will invest in another 6 -7 companies over the next two years. iFitness, Nigeria’s leading and fastestgrowing fitness chain, operates with a mission of improving the overall health and well-being of the average Nigerian by providing high quality, yet affordable fitness offerings. AppZone, the foremost fintech solutions provider in Africa, provides a bouquet of offerings, developed with proprietary intellectual property, targeted at accelerating economic prosperity across Africa by leveraging technology to deepen financial inclusion.

Trading ﬂoor

MARKET INDICATORS MONEY AND CREDIT STATISTICS Money Supply (M3)

38,779,455.43

-- CBN Bills Held by Money Holding Sectors

1,039,129.55

Money Supply (M2)

37,740,325.88

-- Quasi Money

21,779,302.69

-- Narrow Money (M1)

15,961,023.19

---- Currency Outside Banks

2,364,871.13

---- Demand Deposits

13,596,152.06

Net Foreign Assets (NFA)

7,414,275.50

Net Domestic Assets(NDA)

31,365,179.93

-- Net Domestic Credit (NDC)

42,916,586.63

---- Credit to Government (Net)

12,304,773.44

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

0.00

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

0.00

---- Credit to Private Sector (CPS)

30,611,813.19

--Other Assets Net

3,892,112.74

Reserve Money (Base Money

13,264,585.14

--Currency in Circulation

2,831,167.19

--Banks Reserves --Special Intervention Reserves

10,433,417.96 317,234.17

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Money Market Indicators (in Percentage) Month

Ibom Icon Hotel Woos Customers with Easter Promo

(MILLION NAIRA)

JANUARY 2021

March 2018

Inter-Bank Call Rate

15.16

Minimum Rediscount Rate (MRR)

Ibom Icon Hotel and Golf Resort has promised guests and diners a memorable experience this Easter season. To this end, a statement revealed that the hotel will line up an array of entertainment activities themed “Easter EGGSTRAVAGANZA.” It stated that activities for the Easter celebrations will commence with a Good Friday party to be hosted at the Hotel’s Marina. “The Good Friday TGIF Party would feature an outdoor disco setup, mouth-watering meals, as well as a Celebrity DJ appearance to play for entertainment. “Guests and diners will also be treated to an Easter Sunday Brunch at the hotel’s Vista Restaurant and Family Pool Party. “Diners will be entertained with exciting games to win fantastic prices ranging from Sunday family fun day BBQ brunch voucher, discount on bills, and complimentary brunch vouchers. They can also

request for a special table setup with Easter themed giveaways containing chocolates, candies, Easter-colored eggs, trinkets etc,” it stated. In addition, it noted that, “entertainment at the brunch and pool party also promises to be top-notch and will feature Mc Chico and co, Bouncy Castle, Live band, Easter Egg Hunts, Egg Coloring Station, Easter Essay Competition, Swimming, Egg painting contest Dance Competition, Easter Egg Hunt, Easter-themed photo booth and Kid’s area with indoor and outdoor games.” Speaking about the hotel’s activities, Head, Sales and Marketing, IBOM ICON Hotel & Golf Resort, Daniel Lordis, was quoted to have stated that the hotel was pleased and ready to receive visitors within and outside the state. “Our services during this

period have been planned to cater for every single guest visiting the hotel and all activities/entertainment have been creatively designed for their delight. “We are happy to also feature special packages suitable for families who intend spending their vacation at the hotel during the holidays. These packages are all a three nights – four days’ stay starting from Good Friday to Easter Monday and categorized into Silver, Gold, Platinum and Diamond Package with minimum price of One Hundred and Twenty-two thousand, Five Hundred Naira only” he stated. He added that, “each package is designed to feature special treats such as airport transfers to and fro upon request, complimentary sweets, Ísang Ndisé tour to Ikot Abasi or an Excursion to Calabar via boat, Welcome Cocktail and traditional dance, Easter Sunday family brunch, as well as Easter Sunday family pool party amongst others”.

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

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OPEC DAILY BASKET PRICE AS AT THURSDAY, 25 MARCH 2021

The price of OPEC basket of thirteen crudes stood at $61.63 a barrel on Thursday, compared with $61.61 the previous day, according to OPEC Secretariat calculations. The OPEC Reference Basket of Crudes (ORB) is made up of the following: Saharan Blend (Algeria), Girassol (Angola), Djeno (Congo), Zaﬁro (Equatorial Guinea), Rabi Light (Gabon), Iran Heavy (Islamic Republic of Iran), Basra Light (Iraq), Kuwait Export (Kuwait), Es Sider (Libya), Bonny Light (Nigeria), Arab Light (Saudi Arabia), Murban (UAE) and Merey (Venezuela). SOURCE: OPEC headquarters, Vienna

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Vetiva Harps on Policy Coordination to Cage Rising Inflation, Others Goddy Egene Vetiva Research has emphasised the need for policy coordination between the fiscal and monetary authorities to tackle the trend of low output growth, high and rising inflation, and burgeoning unemployment in the economy. Vetiva Research stated this in its post-Monetary Policy Committee (MPC) decision report titled: “No

rate action yet.” The Central Bank of Nigeria (CBN) MPC members last week resolved to retain the monetary policy rate (MPR), or the controlling lending rate, at 13.5 per cent, with the asymmetric corridor at +200/-500 basis points it. The Liquidity Ratio was also retained at 30 per cent, while Cash Reserve Requirement (CRR) was left unchanged at 27.5 per cent. The CBN Governor, Mr.

P R I C E S MAIN BOARD

F O R DEALS

Godwin Emefiele, had said that any attempt to adjust the monetary policy fundamentals in any direction – upwards or downwards – would distort and undermine the effort already made through the recent N3 trillion stimulus plan by the central bank. However, Vetiva’s Economists said the persistent rise in inflation, fragile recovery from the pandemic-induced recession and

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high unemployment were the conflicting economic objectives before the MPC. According to them, while Nigeria narrowly escaped a recession in the final quarter of 2020, further policy coordination could be required to strengthen economic recovery. Commenting on their output predictions, they said: “We recall that COVID-19 restrictions came into force at the end of first quarter (Q1) 2020,

T R A D E D MAIN BOARD

A S

thus, the pandemic left a negligible imprint on the economy in Q1 2020. This could limit economic recovery in Q1 2021, informing our weaker growth expectation of 0.75 per cent year-on-year in Q1 2021.” Despite the lag in vaccine arrivals, the analysts stated that the economy benefitted from vaccine-rollouts which spurred commodity price recoveries. Commenting on the external

O F

sector, they noted “the CBN had not intervened in the Investors & Exporters Window since the start of the year, a possible reason for a price-discovery process which has seen the Nigerian Autonomous Foreign Exchange (NAFEX) rate depreciate beyond N400/$.” However, they acknowledged the build-up in external reserves that could emanate from a vaccine-induced recovery in oil demand.

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MONDAY MARCH 29, 2021 • T H I S D AY

MONDAY, MARCH 29, 2021 ˾ T H I S D AY

MARKET NEWS

Kogi State Restructures Bonds with New Maturity Dates Goddy Egene

(Series I) 15 per cent Fixed Rate Bond and the N3 Billion (Series II) 17 per cent

The Kogi State N5 Billion 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

Fixed Rate Bond under the N20 billion Debt Issuance Programme have been

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 25Mar-2021, unless otherwise stated.

restructured. The Nigerian Stock Exchange (NSE) said the 15 per cent bond will

now mature December 2023 instead of December 2020, while the 17 per cent bond

will now mature in March 2025.

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 N/A N/A N/A Afrinvest Plutus Fund N/A N/A N/A Nigeria International Debt Fund N/A N/A N/A Afrinvest Dollar Fund N/A N/A N/A ALTERNATIVE CAPITAL PARTNERS LTD info@acapng.com Web: www.acapng.com, Tel: +234 1 291 2406, +234 1 291 2868 Fund Name Bid Price Offer Price Yield / T-Rtn ACAP Canary Growth Fund N/A N/A N/A ACAP Income Funds N/A N/A N/A AIICO CAPITAL LTD ammf@aiicocapital.com Web: www.aiicocapital.com, Tel: +234-1-2792974 Fund Name Bid Price Offer Price Yield / T-Rtn AIICO Money Market Fund 100.00 100.00 2.40% AIICO Balanced Fund 3.40 3.56 -4.24% 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 127.25 128.71 -4.28% Anchoria Fixed Income Fund 1.13 1.13 -15.04% 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 N/A N/A N/A ARM Discovery Balanced Fund N/A N/A N/A ARM Ethical Fund N/A N/A N/A ARM Eurobond Fund ($) N/A N/A N/A ARM Fixed Income Fund N/A N/A N/A ARM Money Market Fund N/A N/A N/A AVA GLOBAL ASSET MANAGERS LIMITED info@avacapitalgroup.com Web: www.avacapitalgroup.com Fund Name Bid Price Offer Price Yield / T-Rtn AVA GAM Fixed Income Dollar Fund 103.24 103.24 1.50% AXA MANSARD INVESTMENTS LIMITED investmentcare@axamansard.com Web: www.axamansard.com; Tel: +2341-4488482 Fund Name Bid Price Offer Price Yield / T-Rtn AXA Mansard Equity Income Fund 123.69 124.55 -1.97% AXA Mansard Money Market Fund 1.00 1.00 2.62% CAPITAL EXPRESS ASSET AND TRUST LIMITED info@capitalexpressassetandtrust.com Web: www.capitalexpressassetandtrust.com ; Tel: +234 803 307 5048 Fund Name Bid Price Offer Price Yield / T-Rtn CEAT Fixed Income Fund 2.04 2.04 -23.43% Capital Express Balanced Fund(Formerly: Union Trustees Mixed Fund) 2.16 2.20 -14.59% CHAPELHILL DENHAM MANAGEMENT LTD investmentmanagement@chapelhilldenham.com Web: www.chapelhilldenham.com, Tel: +234 461 0691 Fund Name Bid Price Offer Price Yield / T-Rtn Chapelhill Denham Money Market Fund N/A N/A N/A Paramount Equity Fund N/A N/A N/A Women's Investment Fund N/A N/A N/A CORDROS ASSET MANAGEMENT LIMITED assetmgtteam@cordros.com Web: www.cordros.com, Tel: 019036947 Fund Name Bid Price Offer Price Yield / T-Rtn Cordros Money Market Fund 100.00 100.00 2.38% Cordros Milestone Fund 2023 127.54 128.44 Cordros Milestone Fund 2028 N/A N/A Cordros Dollar Fund ($) 110.50 110.50 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 0.69% Coronation Balanced Fund 1.15 1.16 -4.31% Coronation Fixed Income Fund 1.45 1.45 -8.26% 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 2.18% EDC Nigeria Money Market Fund Class B 1,000,000.00 1,000,000.00 2.14% EDC Nigeria Fixed Income Fund 1,160.24 1,164.32 -3.27% 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 1,351.47 1,351.47 5.39% FBN Balanced Fund 184.21 185.51 -1.85% FBN Halal Fund 110.33 110.33 4.62% FBN Money Market Fund 100.00 100.00 2.59% FBN Nigeria Eurobond (USD) Fund - Institutional N/A N/A N/A FBN Nigeria Eurobond (USD) Fund - Retail 123.92 123.92 2.76% FBN Smart Beta Equity Fund 148.12 150.00 -2.03% FCMB ASSET MANAGEMENT LIMITED fcmbamhelpdesk@fcmb.com Web: www.fcmbassetmanagement.com; Tel: +234 1 462 2596 Fund Name Bid Price Offer Price Yield / T-Rtn Legacy Money Market Fund 1.00 1.00 1.42% Legacy Debt Fund 3.91 3.91 0.97% Legacy Equity Fund 1.55 1.58 1.46% Legacy USD Bond Fund 1.15 1.15 1.14% 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 3,767.44 3,817.24 0.52% Coral Income Fund 3,348.23 3,348.23 2.20% FSDH Treasury Bills Fund 100.00 100.00 1.74%

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 0.38% Nigeria Entertainment Fund 129.08 129.62 19.87% 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 2.33% Vantage Balanced Fund 2.68 2.74 17.00% Vantage Guaranteed Income Fund 1.00 1.00 4.50% Kedari Investment Fund (KIF) 145.77 146.15 -6.22% Vantage Dollar Fund (VDF) - June Year End 1.08 1.08 5.11% LOTUS CAPITAL LTD ﬁncon@lotuscapitallimited.com Web: www.lotuscapitallimited.com; Tel: +234 1-291 4626 / +234 1-291 4624 Fund Name Bid Price Offer Price Yield / T-Rtn Lotus Halal Investment Fund 1.36 1.38 -0.69% Lotus Halal Fixed Income Fund 1,144.12 1,144.12 1.83% MERISTEM WEALTH MANAGEMENT LTD info@meristemwealth.com Web: http://www.meristemwealth.com/funds/ ; Tel: +234 1-4488260 Fund Name Bid Price Offer Price Yield / T-Rtn Meristem Equity Market Fund N/A N/A N/A Meristem Money Market Fund N/A N/A N/A PAC ASSET MANAGEMENT LTD info@pacassetmanagement.com Web: www.pacassetmanagement.com/mutualfunds; Tel: +234 1 271 8632 Fund Name Bid Price Offer Price Yield / T-Rtn PACAM Balanced Fund 1.59 1.62 7.49% PACAM Fixed Income Fund 12.36 12.49 1.02% PACAM Money Market Fund 10.00 10.00 1.74% PACAM Equity Fund 1.55 1.57 -1.85% PACAM EuroBond Fund 109.81 112.58 0.40% 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 3,099.05 3,122.96 -3.65% Stanbic IBTC Bond Fund 227.49 227.49 1.17% Stanbic IBTC Ethical Fund 1.13 1.15 -3.39% Stanbic IBTC Guaranteed Investment Fund 297.95 297.96 1.12% Stanbic IBTC Iman Fund 208.40 211.06 -4.61% Stanbic IBTC Money Market Fund 100.00 100.00 1.83% Stanbic IBTC Nigerian Equity Fund 9,710.53 9,834.78 -7.53% Stanbic IBTC Dollar Fund (USD) 1.24 1.24 1.33% Stanbic IBTC Shariah Fixed Income Fund 112.84 112.84 1.58% UNITED CAPITAL ASSET MANAGEMENT LTD Web: www.unitedcapitalplcgroup.com; Tel: +234 803 306 2887 Fund Name Bid Price Offer Price Yield / T-Rtn United Capital Balanced Fund 1.31 1.33 -4.04% United Capital Bond Fund 1.92 1.92 1.34% United Capital Equity Fund 0.88 0.91 2.22% United Capital Money Market Fund 1.00 1.00 4.05% United Capital Eurobond Fund 118.75 118.75 1.42% United Capital Wealth for Women Fund 1.06 1.07 -2.37% United capital Sukuk Fund 1.03 1.03 2.53% 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 11.98 12.09 0.98% Zenith Ethical Fund 13.23 13.34 8.28% Zenith Income Fund 24.23 24.23 1.04% Zenith Money Market Fund 1.00 1.00 2.02%

REITS NAV Per Share

Yield / T-Rtn

121.90 52.85

0.96% 0.86%

Bid Price

Offer Price

Yield / T-Rtn

12.42 118.08 93.64

12.52 118.08 95.40

-5.98% -3.01% -5.76%

Fund Name SFS Skye Shelter Fund Union Homes REIT

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

VETIVA FUND MANAGERS LTD Web: www.vetiva.com; Tel: +234 1 453 0697 Fund Name Vetiva Banking Exchange Traded Fund Vetiva Consumer Goods Exchange Traded Fund Vetiva Grifﬁn 30 Exchange Traded Fund Vetiva Money Market Fund Vetiva Industrial Goods Exchange Traded Fund Vetiva S&P Nigeria Sovereign Bond Exchange Traded Fund

funds@vetiva.com Bid Price

Offer Price

Yield / T-Rtn

N/A N/A N/A N/A N/A N/A

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.

MONDAY MARCH 29, 2021 • T H I S D AY

MONDAY, ͺ΁˜ ͺ͸ͺ͹ ˾ T H I S D AY

NEWS

Atiku Proffers Measures to Cut Unemployment Rate Chuks Okocha in Abuja Former Vice President Atiku Abubakar yesterday advocated measures to curb the unemployment, which has peaked at 33 per cent. Atiku, in a statement he personally signed, called for what he described as incentivised education, paying every family with school-age children with annual income below $800 per annum N5,000 monthly stipends, among others. He rallied Nigerians to unite to rescue the country from being simultaneously the world’s headquarters for extreme poverty, the world’s capital for out-of-school children, and the nation with the highest unemployment rate on earth. He said with this situation, there was a real and present danger that Nigeria might slip into the failed states' index. "I have never felt so bad at being proven right, as I am by the report from Bloomberg

Business on Saturday, March 27, 2021 that Nigeria is to emerge as the nation with the highest unemployment rate on earth, at just over 33 per cent," he stated. He expressed concern that despite repeated warnings by himself and other patriots, who were scorned, the federal government has failed to put in the right policies to prevent the economic crisis. He said: "How did Nigeria get here? We got here by abandoning the people-centred leadership and free trade and deregulatory policies of the Obasanjo years (which saw us maintain an almost singledigit unemployment rate), and implementing discredit command and control policies that have led to massive capital flight from Nigeria." Atiku condemned government’s involvement in sectors that ought to be left to the private sector, with the latest being the ill-advised $1.5 billion vote for the rehabilitation of the

Port Harcourt refinery that has failed to turn a profit for years. He also attributed the worsening insecurity in Nigeria to youth unemployment. “Idleness is the worst feature of unemployment because it channels the energy of our youth away from production, and towards destruction, and that is why Nigeria is now the third most terrorised nation on earth," he added. He stated that in 2020, he had recommended that to “immediately and drastically bring down youth unemployment, every family in Nigeria with at least one school age child, and earning less than $800 per annum should receive a monthly stipend of N5,000 Naira from the government via their BVN and NIN on the condition that they verifiably keep their children in school. "My recommendation still stands, and stands even stronger now that we have crossed the Rubicon in youth

unemployment. If we can get the 13.5 million out-of-school Nigerian children into school, we will turn the corner in one generation. If we do not do this, then the floodgates of unemployment will be further opened next year, and in the years to come. "We can no longer say we cannot afford this. We can. As a nation, we are better off privatising our refineries and the NNPC through the time-tested LNG model in which the FG owns 49 per cent equity and the private sector 51 per cent. Recall that in 20 years ending 2020, the NLNG had delivered $18.3 billion dividends to government irrespective of taxes and other benefit accruals to the country. This will not only free the government of needless spending, but also clean up the infrastructure mess in the petroleum downstream sector." He said the fastest way to reduce unemployment rate was via incentivised education, adding that educated citizenry

are more employable and more self-employable. The former PDP presidential candidate in 2019 general election said an increased education had been scientifically linked with lower rates of crime and insecurity, along with lower infant and maternal mortality, and a higher lifetime income. "We must then incorporate those youth who are above school age into a massive public works programme. There was talk of 774,000 Special Public Works jobs for the youth, which was to have started in January 2021. This is a commendable step, but it must be done with proper agenda, rather than propaganda. "Perhaps, we may want to consider the Malaysian model, whereby with the exception of very few highly specialised jobs, foreign contractors are not allowed to import labour into the country. "And we also need to do three things urgently to

encourage capital inflow and foreign direct investment", he said. According to him, Nigeria must move towards a single exchange rate to be determined by market forces, while the federal and state governments must reduce taxes, to make Nigeria more business friendly. He also suggested that the financial and monetary institutions, like the Central Bank of Nigeria (CBN) and the Securities and Exchange Commission (SEC), must be free from political influence such that resulted in the prohibition of Bitcoin and other cryptocurrencies. "We are at a precipice as a nation and the truth is that all stakeholders and elder statesmen have to speak up on time, while there is still a Nigeria to save. This government obviously lacks the capacity to address our current challenges, and we must help them, not because of the government, but because of our people," he added.

Commodities Trading: SEC Issues New Rules on Warehousing, Collateral Mgt Ndubuisi Francis in Abuja In a bid to ensure a vibrant commodities trading ecosystem, which would in turn boost foreign exchange earnings for the country, the Securities and Exchange Commission (SEC) has released new rules covering warehousing and collateral management, among others. According to the rules, every warehouse that stores commodities to be traded on a registered exchange shall apply to be registered by the SEC, while the commission shall maintain a register of all registered warehouses to be published on its website. The new rules also provide that any warehouse applying for registration, shall submit proof of ownership or registered-lease deed or rent agreement, alongside

a disclaimer from the owner of the warehouse/ property providing waiver of ownership regarding commodities stored in such a warehouse, in case of leased or rented warehouse. The warehouse shall also present evidence of construction in compliance with the National Building Code, present evidence of compliance with relevant federal and state regulation relating to the operation of warehouses, and have facilities appropriate for the storage of commodities. Other requirements are that the warehouse should have appropriate security arrangements in place, have adequate trained staff with expertise and knowledge of scientific storage of commodities, have requisite equipment

for weighing and quality measures of commodities, as well as have comprehensive insurance cover for the building, equipment, stock and other items as may be necessary. The rules also state that “the warehouse should be located in a place with access to infrastructure to support its operations and have sufficient space for parking and movement of large vehicles, have an efficient system for loading/unloading of Commodity including a proper mechanism for segregation of different kinds/quality of commodity. “They are to submit a Standard Operating Procedure (SOP), which shall cover the following among others: Procedures for acceptance of commodities to be deposited and delivery

of commodities; procedures for weighing, sampling of goods to be deposited in compliance with industry standards, the procedure for verification of commodities and communication to depositors, and procedure for maintaining the quality of the goods stored in line with relevant specifications. “Others are the procedure for ‘know your depositor,’ security policy for ensuring the safety of the goods, the procedure for the use of modern techniques for storage of goods, the procedure for determining and addressing losses due to theft, fire, burglary, fraud, negligence and force majeure events, the procedure for internal verification of stock, the procedure for maintenance of warehouse and preservations of Stock,

organisational structure and job description for every staff." The rules also state that for a collateral management company to be registered by the Commission, an application shall be filed to the SEC accompanied by the relevant documents. Some of the documents are two sets of completed appropriate S.E.C forms to be filed by the sponsored individuals; a copy of the Certificate of Incorporation certified by the Corporate Affairs Commission. Where a copy is not certified is filed, the applicant shall present the original for sighting by an authorised officer of the Commission; a copy of the Memorandum and Articles of Association certified by the Corporate Affairs Commission, which

shall among others include the power to act as a collateral manager. A copy of the appropriate CAC form containing particulars of the directors certified by the Corporate Affairs Commission as well as a copy of the latest audited accounts or the audited statement of affairs for companies in operation for less than one year is also specified. The rule further requires Fidelity Bond to represent 20 per cent of paid-up capital; sworn undertaking to keep proper records and render returns; evidence of minimum paid-up capital of N50 million, as well as an application for registration of a minimum of two sponsored individuals one of whom shall be the chief executive officer.

Ndigbo except Obiozor. The council, therefore, directed the Ohanaeze leadership to go into direct talks with other ethnic groups and governments at all levels on ways of finding a lasting solution to the problems facing Nigerians.

Addressing the media after the meeting, the Governor of Imo State, Senator Hope Uzodimma, commended the Ohanaeze Ndigbo leadership on what it has achieved in a short while. He encouraged them to look into the security

arrangements in the various Igbo states and communities and see how best to support and equip them to continue to secure Igboland while the various governors look for ways of more sophisticated security arrangements for the South-east.

OHANAEZE RESTATES CASE FOR IGBO PRESIDENCY IN 2023 make the Igbo presidency a reality in 2023. The council stated that the Igbo agenda could only be achieved in consultation with other ethnic nationalities. The elders urged qualified Igbo to show interest in the 2023 presidential race. The group stressed the need for different components of Nigeria to unite and hold dialogue on the country’s future. Highlighting the points in the communiqué, Obiozor called for a national dialogue on the political, economic, social and cultural structure of Nigeria vis-a-vis the challenges facing the country. The communiqué also highlighted the worsening insecurity that's giving many people concern and mandated the Ohanaeze Ndigbo leadership to work in close consultations with state governments in Igboland to fashion out ways of protecting

the Igbo. The council stated that Igboland needs a security outfit to address issues peculiar to the people and to support efforts of the federal government. It frowned upon the current situation whereby the Igbo resident in other parts of Nigeria have become easy targets and guinea-pigs during hostilities, both within the country and even in some parts of Africa like Ghana and South Africa. The council mandated Ohanaeze leadership to fashion out ways of encouraging government in the Igbo-speaking states to become more proactive in the pursuit of policies to boost both agriculture and manufacturing. The council decried the recent national statistical figures that ranked some Igbo-speaking states as highest in the number of unemployed

people, adding that a homegrown approach for tackling the unemployment monster should be pursued. The communiqué also emphasised the need to further pursue and implement the Alaigbo Stabilisation Fund, which was initiated by the immediate past administration of Chief Nnia Nwodo. It, therefore, adopted the report of the Alaigbo Stabilisation Funds Steering Committee for the improvement and investment in the welfare and growth of Igbo land. The council also mandated the Ohanaeze Ndigbo leadership to pursue a deliberate policy of ensuring a noticeable and measureable improvement in the quality of education in Igboland. According to the group, while it recognises the right of every Nigerian to freedom of speech, nobody henceforth, has the authority to speak for

NNPC REDUCES CASH-CALL DEBTS TO IOCS BY $3.11BN outcome of a bipartite meeting of the federal government and the organised labour in Abuja, Minister of Labour and Employment, Senator Chris Ngige, had said that the labour had investigated the report of the Technical Committee on Petrol Pricing Framework as agreed at the last meeting and made its submissions. The NNPC also presented a report. He said: “The labour side saw that they (NNPC) were making some points and like I said, it is work in progress.”

Tanker Drivers

Threaten Strike Meanwhile, tanker drivers have threatened to withdraw their services if vehicle owners under the auspices of NARTO fails to negotiate the renewal of the Collective Bargaining Agreement (CBA) for new working conditions for petroleum tanker drivers. In a communiqué issued at the weekend after its executive council's meeting, the fuel tanker drivers threatened to disrupt fuel supply by going on a strike if the government fails to enforce the compulsory installation of safety valves in

all petroleum trucks to protect the inflammable contents of the trucks from spilling over in a situation of road mishaps. PTD, in the communiqué signed by its National Chairman, Mr. Salmon Akanni Oladiti, however, issued a 14-day ultimatum to NARTO to initiate new conditions of service for petroleum tanker drivers with effect from March 27. The drivers also urged the federal government to ensure that the installation of safety valve is made mandatory in all petroleum trucks with effect from May 1, 2021.

MONDAY MARCH 29, 2021 ˾ T H I S D AY

NEWSXTRA

Bandits Kill One, Abduct Mother, Three Children in Kaduna Police foil kidnap attempt, rescue five victims John Shiklam inKaduna Four people, including three children have been abducted by gunmen in Lalighi community, Gonin Gora area, a suburb of Kaduna metropolis. This is coming as the state Police Command said yesterday that its operatives foiled kidnap attempt and rescued five victims. The bandits were said to have invaded the community at about 1.15am yesterday, allegedly with the collaboration of an informant. In a telephone interview, a resident of the area who pleaded anonymity said a member of the community vigilante group was killed while a mother, her two children and another child, aged about three, four and five years, were abducted during the attack.

He added that an elderly man was also shot on the waist and was taken to the St. Gerald Catholic Hospital, Kakuri, Kaduna, for treatment. According to him, the security network in the community appeared to have been compromised as the bandits took the local vigilante group by surprise. He said,“We believe very strongly that bandits were working with an insider because of the way they operated. “They seemed to know everything about our security arrangement in the community. “We installed a bells at particular locations and we ring them every hour in the night to indicate that the vigilante are patrolling the community. “We have a well organised vigilante

group that patrols the community every night till day break. Some of us usually accompany the vigilante members for patrol. “The bandits came at about 1.15am and surrounded the community. “Two of the bandits were sent into community to carry out the attack while others laid ambush around the community,”he said. Meanwhile, the Police Command in the state said yesterday that its operatives foiled kidnap attempt and rescued five victims.

The Command Public Relations Officer, ASP Muhammad Jalige, confirmed the incident in a statement issued in Kaduna. He said,“On March 26, at about 12:00hrs information has it that some bandits numbering 10 with sophisticated weapons blocked Kaduna to Birnin Gwari road in an attempt to kidnap five occupants of a Volkswagen Golf vehicle with Reg.No DKA 539 TU, heading towards Birnin Gwari from Kaduna. “On receiving the report, patrol team

attached to Buruku Division immediately swung into action, engaged the bandits in fierce gun duel and successfully repelled the bandits who scampered into the forest with various degrees of bullet wounds and rescued all the occupants of the vehicle safely. “Effort is on high gear to ensure the fleeing bandits are apprehended,” he said. The spokesman said the victims have since been reunited with their families. Jalige also disclosed that on same March 26 a suspected arms dealer

was arrested by operatives and one bandit killed, adding the command recovered eight SMG rifles, one pistol and 85 rounds of 7.62 X39mm live ammunition in Saminaka forest of Lere Local Government Area of the state. He said investigation into the matter had been lunched and the remaining suspects confessed to be transporting the arms and ammunitions to bandits in Niger, Kaduna, Zamfara and Katsina States.

House Committee Hails Decision of Service Chiefs to Work under CDS Chiemelie Ezeobi The Chairman of the House Committee on Defence, Hon. Babajimi Benson, has commended the service chiefs for their resolve to work under the defence headquarters, especially in joint operations. The service chiefs had agreed to carry out joint operations under the umbrella of the defence headquarters, thus restoring established command structure in the military. With this structure, all ongoing joint operations and joint task forces are to be directly subordinated to the DHQ while their commanders’ report directly to the Chief of Defence State (CDS). In a statement issued yesterday, the committee chairman said: “The news report that the Service Chiefs have agreed to work more jointly under the leadership of the Chief of Defence Staff, General Lucky Irabor is a welcome development.

“As a nation, Nigeria’s lack of joined up and strategic cohesion amongst its many security outfits has been a major weakness in our security landscape. “It is therefore gratifying to see a new resolve by the military services to work jointly together as the Armed Forces of Nigeria. “This deep cooperation will strengthen command and control as well as effective leadership oversight of operations in the field. “The House of Representatives’ Committee of Defence will continue to provide all the requisite legislative support needed by our gallant soldiers and their commanders to ensure successful operations and this unity of command posture is a step in the right direction. “I commend the new service chiefs for their commitment to the nation’s security and I appreciate their determination to embrace global best practices to further strengthen our security architecture.

WHO Dispels Misleading Information about COVID-19 Vaccine Daji Sani in Yola The World Health Organisation (WHO) has dispelled ‘misleading’ information and misconceptions surrounding the COVID-19 vaccine, which had created hesitancy and rejection of the vaccine by the populace. At a two-day workshop organised by WHO in Yola, Adamawa State capital, for North-east journalists, WHO experts reiterated that the vaccine is safe, and that the benefits of taking the vaccine outweigh it side effects. WHO, Public Health Officer, Dr. Jerry Pantuvo, one of the facilitators at the workshop, said it is true that there are minor side effects after taking the vaccine such as fever, cold, headache among others, but they go away after some time. He said the reason for the

side effects is because the body reacts to anything newly introduce to it, adding that the body sees the vaccine as strange, “which is the reason for the side effects but after sometime, it gets use to it.” The medical expert explained that the benefits of the vaccine is that it is introduced to aid prevention because it empowers and develops antibodies cells, “which will develop stiff resistance against the pandemic from penetrating the body.” He said there was no need to entertain fears and reservation about the safety of the vaccine. “We the health workers are among the first category of people to be vaccinated; if it is not safe, we couldn’t have agreed to take it,” he said.

FACILITATORS OF EXPORTS…

L-R: President of Federation of Agricultural Commodities Association of Nigeria; Dr. Victor Iyama; President of Manufacturers Association of Nigeria (MAN), Export Group; Mr. Ede Dafinone; Managing Director of Nigeria Port Authority (NPA), Ms. Hadiza Bala-Usman; Chief Executive Officer of Nigeria Export Promotion Council (NEPC), Mr. Olusegun Awolowo, Executive Director, Marine and Operations, NPA, Mr. Brown Onari; and NEPC’s Director of Product Development Department, Mr. William Ezeagu, at the stakeholders’ interactive meeting to fast-track cargo access to the ports in Lagos …weekend

Kano, Lagos Must Lead Peace Mission in Nigeria, Says Tinubu Ibrahim Shuaibu in Kano The National leader of All Progressive Congress (APC), Senator Bola Ahmed Tinubu has said Kano and Lagos must remain peaceful in Nigeria. The former Lagos state governor, spoke yesterday at the palace of the emir of Kano on a courtesy call as part of activities marking Tinubu’s birthday and colloquium in Kano. He insisted that Kano and Lagos, which possess common

population densities and hold economic growth, must lead other parts of the country on a peaceful mission. He declared that both largest cities in the country must continue to promote unity, tolerance and peace among people of divergent background residing in the states, to show good example to other states Tinubu who emphasised the urgent need for the country must return to the part of peace, stressed that the nation may find it difficult

to manage its greatness amidst insecurity. “Nigeria is going through difficult times, especially challenges of insecurity and other tough times. Yet there cannot be peace, development and industrial growth in the country in the absence of peace and stability. “Kano being the most populous state of the Federation has enjoyed stability and peace despite the challenges in Nigeria. The governors have promoted unity, sustain one Nigeria in the face of

differences. We must commend them”. The Emir of Kano, Alhaji Aminu Ado Bayero welcomed Tinubu to his palace and pledged the emirate’s support to Tinubu’s mission to lead the country to greater heights. Governor Abdullah Umar Ganduje had earlier introduced the visitor to the palace where he informed the emirate of Tinubu’s plan to mark his 65th birthday and annual colloquium in the city of Kano.

Cultist, Suspected Kidnapper Killed in Anambra David-Chyddy Eleke in Awka Suspected members of secret cults engaged themselves in a gun duel yesterday in Awka, capital of Anambra State, leaving one dead. The Sunday’s morning shooting, which happened at the popular Eke Awka market junction, reportedly scared away roadside traders and church goers. It is not yet clear which cult groups were involved in the

shoot-out in the area or the identity of the killed cultist. The Anambra State Police Command Spokesperson, DSP. Toochukwu Ikenga, was yet to respond to inquiries by THISDAY as at the time of filling this report. Meanwhile, an angry mob has killed a 35 years old man after he allegedly abducted and tried to make away with a four-year old child in Okpuno area in Awka, Anambra State. The man who was identified as Yusuf, from Shagamu in Ogun

State, was said to have seized the little boy but was spotted by residents of the area, who promptly descended on him. The boy, whose name was given as Chukwuka Sunday, was also rescued and reunited with his mother while the suspect, who was rescued and taken to hospital by police operatives, was said to have died. Ikenga, who confirmed the incident, said: “The operatives rescued and reunited the four (4) years old child, named

Chukwuka Sunday (m) with the mother while the suspect, simply identified as Yusuf (m) of about 35 years of age and of Shagamu, Ogun State, was also rescued from the angry mob and rushed to the hospital, where he was confirmed dead.” He said that police in the state have commenced an intensive patrol and called on residents of the state not to panic at the sound of sporadic gunshots, which would be part of the patrol.

New 51 Cases of Tuberculosis Discovered in Benue George Okoh in Makurdi Fifty One new cases of tuberculosis (TB) have been discovered in Benue State from a test conducted on 609 samples screened for the contagious disease. This was revealed after the 2021 Word Tuberculosis Day’s community outreach programme in Benue State. The Senior Program Officer of the KNCV Foundation Nigeria,

Dr. Chubby Eze, who made the disclosure at the weekend, expressed worry that about 9,000 cases of tuberculosis in Benue State were yet to be accounted for. Eze said: “As a result of this, we are carrying out this community outreach to enable us reduce the number by getting these people to come out for the screening. “Our target is to test at least 100 persons for the outreach and

continue with the exercise even after the World TB Day until we meet our target. “I advise people who for fear of being tested for COVID-19 at the health facilities and have resorted to self-medication to refrain from such act that has sent so many TB patients to their early graves. I want to emphasise here that TB is treatable and is free of charge. “If your cough exceed two

weeks it is better to seek the attention of a physician, don’t go to chemists or pharmacies to buy drugs because only doctors can direct you to go for proper diagnosis in order to ascertain the exact illness that is disturbing you.” He said that the treatment of tuberculosis would not last more than a year depending on where the germs are located in the patient’s system.

MONDAY MARCH 29, 2021˾ T H I S D AY

NEWSXTRA

COVID-19: Lagos, Ogun, Kaduna Lead as 513,626 Get Jabs Onyebuchi Ezigbo in Abuja As the national vaccination against COVID-19 enters its fourth week, the federal government has said that 513,626 people have received single dose of the Astrazeneca vaccine jab as at yesterday, Sunday, March 28. In an update on the ongoing vaccination across the country, released by the National Primary Healthcare Development Agency (NPHCDA), the agency said 513,626 doses of AstraZeneca vaccine have been used out of the 3,940,000 doses recently donated to Nigeria through the COVAX facility. Unlike the situation as at Monday when vaccination was in 33 states and the FCT, the number of states that have started vaccination had risen to 35, with only Kogi left out. The statistics showed that states like Lagos, Ogun and Kaduna states led in the number of people vaccinated with 110,042, 47,507,

and 38,063, respectively. According to the update, all the states of the Federation and the Federal Capital Territory, Abuja have commenced the vaccination exercise except Kogi State which is yet to begin vaccination against COVID-19. The vaccination figures as at yesterday showed that Lagos had vaccinated 110,042; Abia, 22; Adamawa, 14,074; Akwa Ibom, 3,106; Anambra, 2,631; Bauchi, 32,482; Bayelsa, 2,223; Benue, 4,833 ; Borno, 8,289; Cross River, 3,690; Delta, 6,304; Ebonyi, 1,187; Edo, 12,495; Ekiti, 9,494; Enugu, 4,298; FCT, 18,080; Gombe, 3,520; Imo, 7,793; Jigawa, 23,089; Kaduna, 38,063; Kano 18,915; Katsina 28,918; Kebbi, 532 and Kogi, zero. Others are: Kwara, 26,573; Nasarawa, 11,509 ; Niger, 1,662; Ogun, 47,507; Ondo, 18,368; Osun, 17,202; Oyo, 1,798; Plateau, 7,856; Rivers, 8,795; Sokoto, 2,287; Taraba, 111; Yobe, 14,748 and Zamfara, 1,174. Nigeria is currently leading

13 other African countries in the number COVAX vaccine deployment with 3.94 million doses of Astrazeneca vaccine. Following the vaccination of 513,626 persons, the country now has 3,426,374 doses of Astrazeneca

Nigeria has again called for the full democratisation of the International Labour Organisation(ILO) so as to ensure full, equal and democratic participation of the member-states in its governance. Minister of Labour and Employment, Senator Chris Ngige made the appeal in an address at the virtual meeting of the Tripartite Working Group of the ILO Governing Board, during which a comprehensive report on democratisation of ILO governance was presented. Aligning Nigeria with the Africa’s position which Ethiopia presented, Ngige noted that the long history of democratisation of the ILO featured in the amendment of its constitution in 1986, with the subsequent call for the ratification of the amendment instrument. He however regretted that the

amendments were yet to take effect after more than three decades they were initiated, due to reservations by some memberstates against its ratification. The minister further noted that the Centenary Declaration in 2019 provided another opportunity to revisit the democratisation , hence the setting up of a Tripartite Working Group co-cheered by Nigeria and Switzerland. “My delegation commends the Working Group and the cooperation of members for successfully guiding focus discussion and dialogue on its mandate. The identification and deliberation of major impediments to the ratification by some member states in the constitution is both instructive and commendable . “The outcome of the discussion, which enjoyed majority support culminated in the submission of the conference resolution for

of insecurity, which has been battling us back and front in the past few years. This is the best time for us to discuss ‘Security Challenge and Implication on National Development.” In his lecture, Dr. Kenny Martins, said no country could have national development when the security structures weere retarded. H added that one of the things that led the country to the current quagmire was ethnic and religious intolerance. “Our founding fathers, including Sir Ahmadu Bello, Chief Obafemi Awolowo and Dr. Nnamdi Azikwe, were very conscious of the ethnic makeup of our Federal Republic, as well as the diversity in the religious belief. Their solution was to pursue the policy of unity in diversity and they were able to avert major catastrophes until the matter was taken out of their hands by coups and counter coups from January

have observed some mild body pains and fever at some of the centres, it is important to state that it is possible for you to take the vaccine and develop other diseases that are unrelated to the vaccination process,” he said.

Masari constitutes investigative committee

Francis Sardauna in Katsina The Nigeria Governors’ Forum (NGF) has sympathised with the Katsina State Government and donated N30 million to the victims of the fire incident, which razed the Katsina Central Market in Katsina State. The Chairman of the Forum and Governor of Ekiti State, Dr. Kayode Fayemi, who announced the donation yesterday, while in

recommendation to the 109thsession of the ILC for adoption. “The unrelenting push for the ratification of the amendments will send a clear signal about our collective resolve to work the talk in building an inclusive world class assembly for all member states.” He also called for the extension of the lifespan of the Tripartite Working Group to enable it to fully achieve its objectives. “ Nigeria is optimistic that the expected threshold for entering into force of the instrument of ratification will be achieved if the life span of the Tripartite Working Group is extended for another twelve months.” The minister expressed Nigeria’s happiness that six additional countries have adopted the ratification since the centenary declaration in 2019.

Insecurity: Expert Harps on Tolerance, Peaceful Co-existence Security experts and other well-meaning Nigerians have called for tolerance and peaceful co-existence as panacea to national development and the insecurity challenges currently ravaging the country. They made the call yesterday at fourth annual public lecture of BAT Communications, publishers of Integrityreporters Newspaper, which held in Ikeja, Lagos. In his opening remark, the Editor-in-Chief of the newspaper, Mr. Adewale Oguniran, said the problem of insecurity in Nigeria was not peculiar to one geo-political zone, as the challenge could be seen in the six geo-political zones of the country, which had continued to affect the socio-economic and political lives of the citizens. “Today is an occasion for us to once again take a look at one of the problems confronting our dear nation —the ugly situation

While responding to fears of possible adverse effects of the Astrazeneca vaccine on persons who have been vaccinated, the agency said that records at the

various vaccination centres across the country did not indicate any adverse records from those so far vaccinated. “No Nigerian has so far developed any adverse side effects due to the vaccination. While we

NGF Donates N30m to Victims of Katsina Market Inferno

Nigeria Restates Call for Full Democratisation of ILO Onyebuchi Ezigbo in Abuja

vaccines remaining to be deployed.

1966.” He stated further that no nation develops on its own without external interventions. He added that investors only make investment if peace and tolerance thrive. “With the current state of insecurity in our country, we are losing a lot economically, and investors are scared to come in and invest. There is no other way to end the menace of insecurity in the country except we create jobs for our teaming unemployed youths, and we can only achieve this when we revive our moribund factories/industries across the country. “The state actors must be blamed for the high rate of insecurity in the country today. The moment government at all levels start seeing insecurity as a challenge to their power, the problem will die naturally.

audience with the State Governor, Hon. Aminu Bello Masari at the Government House, described the incident as unfortunate and a great loss. This is coming as Masari has constituted a committee to investigate the cause of the inferno and make recommendations to the state government. Fayemi, represented by the Sokoto State Governor, Alhaji Aminu Tambuwal, said the fire disaster occurred at the time the governors were battling with economic and security challenges. He said: “It is unfortunate that this is coming at the time when we are facing a lot of challenges in terms of economic and security challenges in the country. He, however, said efforts were ongoing by governors within the North-west and North-central

to tackle the prevailing security problems bedeviling the region for peace and development to thrive in the zone. Responding, Masari thanked his colleagues for the gesture and vowed to use the fund to assist the victims to resume their commercial activities in the market. Meanwhile, Masari has constituted a committee to investigate the cause of the inferno and make recommendations to the state government. The governor, who disclosed this when he received the Emir of Daura, Alhaji Umar Farouq Umar, at the Government House yesterday, said the committee would investigate the remote and immediate causes of the fire disaster. The emir, alongside other top traditional rulers and chieftaincy tittle holders within the ancient emirate,

were at the Government House on sympathy visit to Masari, the state government and traders over the market inferno. He said the committee would also assess the extent of the damages, number of victims and make recommendations on how to forestall future occurrence. The governor, who did not mention the membership of the committee, said government would do everything humanly possible to improve the standard of the market and assist the affected traders in order to assuage their plight. Earlier, Umar expressed shock over the incident and called on the state government and the affected traders to accept the fire incident as the will of God

MONDAY MARCH 29, 2021, ˾ T H I S D AY

NEWSXTRA

PDP Celebrates Victory in Abia By-election, Mocks APC Victory, a product of hard work, equity, says Ikpeazu Chuks Okocha in Abuja and Emmanuel Ugwu-Nwogo in Umuahia The Peoples Democratic Party (PDP) has said that its victory in the Aba North/South Federal Constituency by-election had firmly established its superiority, particularly over the All Progressives Congress (APC), not only in Abia State and the South-east geo-political zone, but also across the country. This is coming as Abia State governor, Dr. Okezie Ikpeazu has welcomed the resounding victory of the PDP in the by-election, describing it as “a clear vindication” of his efforts to transform the commercial city. The PDP said the fact that it defeated the boastful APC and its rejected candidate with 10,322 votes against a paltry 3,674 was a direct confirmation that the APC had no foothold in the South-east, insisting that its bragging of having penetrated the region was an

empty hype. A statement by the National Publicity Secretary, Mr. Kola Ologbondiyan, said that indeed, the party’s resounding defeat of the APC in Aba, a major commercial and social hub and the nerve centre of the south-east, had further established the South-east as an undisputed stronghold of the PDP. The party further said that the outcome of this election served as a foretaste of the crushing defeat that awaits the APC in the zone, come 2023. Moreover, it said that the sweeping victory by the PDP over the APC, in an area like Aba, had further shown that the people of the South-east and Nigerians in general, were no longer carried away by the lies, deceit, falsehood and empty promises of the APC, a party, which it said had brought so much pain and anguish to the nation. Meanwhile, Abia State governor, Ikpeazu has described the victory as “a clear vindication”

COVID-19 Vaccine Not for Sale, Says FG The federal government has declared that COVID-19 vaccine is not for sale and dispelled any possibility of any fake vaccine being administered or sold by unauthorised institution in the country. The News Agency of Nigeria (NAN) reported that this was contained in a circular signed by the Director, Department of Hospital Service, Federal Ministry of Health, Dr. Adebimpe Adebiyi, on behalf of the Minister of Health, Dr. Osagie Ehanire, in Abuja. The circular followed a letter from the Presidential Task Force (PTF) on COVID-19 regarding the arrest of about 3,000 doses of fake COVID-19 vaccines destined for Africa from China. The minister, who acknowledged receipt of the PTF letter, however, stated that “I am, therefore, to bring this to your notice and dispel any possibility of COVID-19 vaccines being available for sale or being administered by any unauthorised institution. “To prevent the importation of fake vaccines, kindly note

that the Nigeria Customs Service (NCS) has designated the Nnamdi Azikiwe International Airport, Abuja, as the only Point of Entry (PoE) for imported COVID-19 vaccines.” He then called the attention of chief medical directors and medical directors of federal tertiary health institutions to the fake COVID-19 vaccines destined for Africa, noting that it had been arrested in China. Meanwhile, competent sources in the ministry confirmed the information to the NAN in Abuja. One of the sources said: “the ministry issued a circular to inform the medical directors of federal hospitals about the fake vaccines. “It is just to let them (medical directors) know that fake COVID-19 vaccines are on the way to Africa but is not in Nigeria. “Nigeria is not even taking vaccines from China, so there is no way fake vaccines can get into the country because it is only the Federal Government that is authorised to import COVID-19 vaccines for now”.

Gunmen Abduct Three Persons in Osun Unknown gunmen have reportedly abducted three passengers in Osu town, along Ife/Ilesha expressway in Osun State. The victims, including one Usman, said to be brother of Seriki Hausa of Iyere town, were taken to a forest in Osu after their vehicle was intercepted by the gunmen. The identities of the other two victims could not be immediately ascertained as at press time. A combined team of police and members of Hunters Group of Nigeria in Osun State has combed the forest in an effort to

secure release of those abducted but their effort has not yielded desired result. Spokesperson of the Osun State Police Command, Yemisi Opalola, has confirmed the incident, saying it was reported to the police on Friday. “The matter was reported to the police in Osu Division on Friday by one Tanko Haruna, said to be Seriki Hausa of Iyere community. He said someone called him on the telephone that his brother, Usman and two others had been abducted.”

of his efforts to transform the commercial city. Voters in Aba North and Aba South had at the weekend cast their ballots in favour of the PDP candidate, Hon. Chimaobi Ebisike, who polled 10,322 votes to beat

his closest rival, Mr. Mascot Uzor Kalu of the APC, who got 3,674 votes. In declaring the poll result, the Independent National Electoral Commission (INEC)’s Returning Officer, Professor Fidelis Okpata

of the Federal University, Ndufu Alike Ikwo, Ebonyi State, said that Destiny Nwagwu received 1, 554 votes while the candidate of Action Alliance, Mr. Okey Prestige scored 199 votes. Ikpeazu had during the

campaigns appealed to Aba residents to reciprocate his infrastructural transformation of Enyimba City and also elect an Aba indigene to the House of Representatives for the first time since 1999.

PROMOTING PERSONAL HYGIENE...

L-R: Former Governor of Anambra State, Mr. Peter Obi; Minister of State for Health, Dr. Olorunimbe Mamora; Chief Executive Officer, Saftermobo Nigeria Limited, Mr. Nnamdi Nwokike; Chairman, Senate Committee on Health, Senator Ibrahim Oloriegbe; Chairman, House Committee on Health Services,Mr. Tanko Sununu; and Chairman, Saftermobo Nigeria Limited, Senator Ben Obi, during the inauguration of kilrox alcohol disinfecting wipes in Abuja... recently KINGSLEY ADEBOYE

PDP Clears Sokoto LG Poll The Peoples Democratic Party (PDP) has cleared the Sokoto State local government councils poll, winning all the 23 chairmanship and 244 councillorship seats. The News Agency of Nigeria (NAN) reported that the Chairman, Sokoto State Independent Electoral

Commission, Alhaji Aliyu Suleiman, disclosed this yesterday when he announced the results in Sokoto. “I certify that the election was conducted hitch free and 10 political parties participated in the election. “The candidates that won have

the highest number of valid votes and satisfied the requirements of law. ”They are hereby declared winners and are hereby return elected according law,” he said Ten political parties including Accord Party, African Alliance, African Democratic Congress, All

Peoples Party, African Progressive Movement, Boot Party, Peoples Democratic Party, Young Peoples Party, Zenith Party and Labour Party featured in the election. The All Progressives Congress (APC) had earlier announced its resolve to boycott the election for lack of transparency.

Keyamo: Those Who Instigate Violence Have Means to Flee Nigeria The Minister of State for Labour and Employment, Mr. Festus Keyamo (SAN), has stated that those who instigated crisis had means of escape in the event of outbreak of violence. According to him, those who become victims in war are usually not the intended targets but the hapless ones who are influenced by the advocates of war. The minister cited the #EndSARS protest of October 2020,

saying that those who pushed others to violence had the means to flee the country leaving behind those they instigated to violence. In a message he wrote on his Twitter, the minister said the call for calm that came from the government and responsible citizens was not out of cowardice but to protect the weak. “During the COVID-19 lockdown, those badly affected were, unfortunately, the weak

and lowly amongst us; during ENDSARS, the eventual victims that lost billions were not the intended targets; the insurgency in the North East has mostly affected the weak and vulnerable amongst us; “The victims of war would not be the intended targets, but the hapless ones who’re listening to the advocates of war. When Govt & responsible citizens call for calm, it’s not out of cowardice

or self-preservation; it’s to protect the weak from the fraudulent intrigues of a few. “ENDSARS has taught Nigerians a bitter lesson: those who push others to violence usually have the means and resources to take care of themselves and their families and even leave our shores whilst those who they instigate to violence suffer the brutal consequences or even die.”

NavyVows to Fully Implement Presidential Directive against Insecurity Bassey Inyang in Calabar The Chief of the Naval Staff, Rear Admiral Awwal Zubairu Gambo, has stated that the navy would leave no stone unturned in the implementation of the presidential directive to all service chiefs and the Chief of Defence Staff to return peace and security to the country and enable Nigerians to go about their daily activities without fear of being attacked by violent criminals.

Gambo stated this in Calabar while addressing officers and ratings when he visited the Eastern Naval Command (ENC) at the weekend, added that the navy under his watch would stop at nothing in flushing out bad eggs from its midst. He warned that the activities of all naval personnel would be under close surveillance and anyone caught to be colluding with criminal elements in the society would be apprehended,

punished and shown the way out. He said: “The President and Commander in Chief of the Armed Forces of the Federal Republic of Nigeria has commanded us to return peace and security to our citizens to enable them move around and do their businesses without fear. Team work, professionalism and integrity will be required from all to achieve this. “The core values of the Nigerian Navy should be upheld by officers

and ratings. Discipline remains the foundation of military service. I shall continue to monitor your activities. I shall not hesitate to relieve, without notice, the appointment of anyone found wanting. “This includes those who collude with economic saboteurs, bandits and armed robbers. At the same vein, those who portray the Nigerian navy in good light shall be rewarded handsomely.

Bauchi Gov Tasks State Assemblies’ Speakers on Technology Segun Awofadeji in Bauchi The Bauchi State Governor, Senator Bala Abdulkadir Mohammed, has enjoined members of the Conference of Nigerian Speakers (CNS) to allow their legislative proceedings to

be driven by technology in line with international best practices. Mohammed gave the advice yesterday when he hosted the principal officers and members of the CNS to a state banquet and gala night at the Government House, Bauchi, after the conduct

of their national meeting in Bauchi. He said that members of the conference are so important in ensuring good governance in Nigeria and urged them to initiate knowledge driven policies for better delivery rather than focusing only on passage of

budget and other executive bills. The governor emphasised the need for collaboration between the NCS and the Nigerian Governor’s Forum to enable them to contribute positive solutions to the numerous challenges facing the country.

MONDAY MARCH 29, 2021 ˾ T H I S D AY

24 HOURS...

SERAP Urges Buhari to Investigate Alleged Misuse of N4.5bn COVID-19 Funds by Kogi Udora Orizu in Abuja The Socio-Economic Rights and Accountability Project (SERAP) has urged President Muhammadu Buhari to direct the Attorney General of the Federation and Minister of Justice, Abubakar Malami, and the appropriate anti-corruption

agencies to investigate the alleged misuse of the N4.5 billion donations, loans and support the Kogi State Government obtained from the federal government, including N90,720, 000 reportedly spent on software to track COVID-19 cases in the state. The organisation in a statement

signed by its Deputy Director, Kolawole Oluwadare, expressed concerns about growing allegations of corruption and mismanagement of public funds in many states of the federation, and the apparent lack of thorough and transparent investigations allowing suspected

perpetrators to frequently escape justice. SERAP said taking prompt action to probe the allegations would promote transparency and accountability, serve the common good and good government of the federation, which includes Kogi State.

The organisation said if recommended measures are not taken within 14 days, legal actions will be taken to ensure compliance. It said: “According to our information, the Kogi State Government in 2020 allegedly spent N90, 720, 000 on COVID-19

software. The software was reportedly approved by the state Governor, Yahaya Bello, to track COVID-19 cases and prevent the spread of the disease in the state. However, the company that developed the software has reportedly stated that it costs only N300, 000.

Military, Police Uncover Hard Drugs, Arms in FCT Shanties Olawale Ajimotokan in Abuja Hard drugs suspected to be cannabis as well as some arms carefully concealed in the ground in seven bags were discovered when the army, police and local vigilante group joined the Federal Capital Territory Administration (FCTA) to raid some slums in Wuye District and Jabi over the weekend. The action was to flush out criminals responsible the escalation of kidnapping in the FCT. Several suspects were arrested during the exercise. The Director, Security Services

FCTA, Adamu Gwary, said the raid was authorised following a report that criminals, constituting nuisance to the society, were hiding in the areas. An army unit from the Presidential Brigade of Guards accompanied other security operatives when the FCTA Development and Control, Abuja Environmental Protection Board (AEPB), Abuja Metropolitan Management Council (AMMC) and Abuja Parks and Recreation raided the slums in Jabi and DakiBiyu area of Wuye District of Abuja.

CAN Lauds Friends of Ugwuanyi over Payment of N27.3m Hospital Bills The Christian Association of Nigeria (CAN), Enugu State chapter has commendedtheAssociationofNsukka Professors and friends of Governor Ifeanyi Ugwuanyi for keeping faith with the governor’s long-held tradition of celebrating his birthday, by paying huge hospital bills of discharged indigent patients in the state and other humanitarian gestures, on behalf of the governor. The Nsukka Professors in collaboration with friends of Ugwuanyi, voluntarily paid hospital bills of discharged indigent patients in both federal and state-owned health institutions in Enugu State as well

as faith-based organisations, totaling over N27.3 million, to commemorate the governor’s 57th birthday. According to the President of Association of Nsukka Professors, Prof. Osita Okanya, the association and friends of the governor paid N16,950,000 medical bills of discharged indigentpatientsinUniversityofNigeria Teaching Hospital (UNTH), Ituku/ Ozalla; N4,900,000 at Orthopedic Hospital, Enugu; N2,405,000 at ESUT Teaching Hospital Parklane, Enugu; N1,000,000 at Bishop Shanahan Hospital Nsukka and N2,062,000 at Faith Foundation Hospital, Nsukka, totaling over N27.3 million.

N’Assembly Scores Obiano High on Anambra Airport David-Chyddy Eleke in Awka

The Joint National Assembly Committee on Aviation has scored Anambra State Governor, Chief Willie Obiano, high on the quality of work at the ongoing Anambra International Cargo Airport project. The joint committee, comprising of members of the aviation committee in the House of Representatives and the Senate, was in the state at the weekend on an oversight duty at the project site, where Obiano, in the company of his wife, took

them round. Leader of the joint committee and the Chairman, Senate Committee on Aviation, Smart Adeyemi, who spoke after the tour, commended the governor for the quality of work and the enormity of the project. Adeyemi said: “I have been privileged to travel to many countries, and each time I am in any airport around the world, I take out time to see what they have. I can attest that this is a massive project, and what you have just done is opening Anambra State up economically.

Naija Times Launches Diaspora Conversations The maiden edition of the Naija Times Diaspora Conversations will hold on Saturday, April 17, 2021. With the theme: “Nigeria’s security challenges and the way forward,” selected eminent speakers are expected to provide refreshing insights into the challenging security situation

in Nigeria. The eminent speakers lined up to offer divergent perspectives on the topic are: Mr. Femi Adesina, presidential spokesman; Dr. Reuben Abati, journalist, columnist and ARISE NEWS Channel anchor; and Major General Abiodun Role (rtd), security consultant.”

WE WILL MISS YOU…

L-R: Administrative Secretary, Directorate of SocialCommunication, Catholic Secretariat of Nigeria, (CSN), Mr. Jide Fadugba-Pinheiro; Director of Social Communication, CSN, Rev. Fr. Padre MikeNsikak; and the Deputy Secretary General and Director, Pastoral Affairs, Rev. Fr Michael Banjo, during the send forth ceremony for Pinheiro at the Catholic Secretariat in Abuja…weekend ENOCK REUBEN

Babalola Urges NUC to ReviewVarsity Laws Victor Ogunje in Ado Ekiti A legal icon and founder of Afe Babalola University, Ado Ekiti (ABUAD), Chief Afe Babalola (SAN), has tasked the National Universities Commission(NUC) to review university laws in order to confer further sanctions against academics convicted for rape, electoral fraud, certificate racketeering and other

misdemeanours. Babalola said the country needed the instrumentality of the laws to deal with the bad eggs in the university system, saying such review became expedient to save the sector and prevent lecturers from embarrassing the country. The legal luminary stated this in Ado Ekiti at the weekend at an event to mark the third anniversary of the establishment

of the ABUAD 400-bed multisystem hospital and sendoff ceremony for the Chief Medical Director of the hospital, Prof Fola Esan. The elder statesman, who used the occasion to react to recent jailing of a university professor over electoral fraud, lamented the rot in the university system in the country, which he said must be tackled without further delay.

According to him, “Reviewing the laws would not only provide avenue for shaming such erring lecturers, it would also make it difficult for such professors to secure alternative jobs in any university again in any part of the country. “Gone were the days when teachers, especiallyuniversitylecturers and professors, were perceived to be above board as well as embodiment of honesty,transparency and decency.

Calabar Port Ships First Cocoa Export in 14Years Eromosele Abiodun The bid by the federal government to advance non-oil export received a major boost yesterday when the maiden voyage of 7,000 tons of cocoa export took off from Calabar port, Cross Rivers State to the United States of America. The 7,000 tons of cocoa was loaded by Starlink Global and

Ideal Limited through Ecomarine Terminals in Calabar port for onward export to US. The Calabar port has faced draft limitations for over 14 years after concession, but the ingenuity of Ecomarine Terminals Limited led to the maiden export of cocoa beans from the seaport. The feat is a turning point in the history of the port, which has

signaled improvement of non-oil export from Nigeria. Speaking at the load-out ceremony in Calabar, the Cross Rivers State Governor Ben Ayade, said the state is rich in agricultural resources, urging the Nigerian Ports Authority (NPA) to expedite action on the dredging of the Calabar channels in order to aid increase in exports.

Ayade, who was represented at the ceremony by the state Commissioner for Commerce, Mrs. Rosemary Archibong, said: “It’s time for us not to just export raw materials, but export processed goods,” as she urged the indigenes to exploit the massive opportunities that the numerous cash crops in the state present.

I’ll Complete Road Projects Abandoned by Amosun, Says Abiodun Kayode Fasua in Abeokuta The Ogun State Governor, Prince Dapo Abiodun, at the weekend reiterated the commitment of his administration to complete road projects awarded but abandoned by the immediatepast administration of Senator Ibikunle Amosun. He said special attention would be given to such roads that have

direct socioeconomic impact on residents of the state. The governor equally said more funds would be allocated to the ongoing construction of the 53 kilometre Lafenwa-Ayetoro Road to ensure its early completion. Abiodun stated these while inspecting three key road projects, including Lafenwa-Ayetoro, Panseke-Adigbe-Opako and Oke-Lantoro-Elite-Idi Aba Roads

in Abeokuta, the state capital. He noted that the projects, awarded by his predecessor, ought to have been given more priority than they were by the previous administration, saying work would be expedited on the project, which he described as “major arterial roads between Ogun Central and Ogun West.” According to Abiodun, “We are committed to the quick completion

of Lafenwa-Ayetoro Road, because it accounts for thousands of our citizens traveling between Ayetoro and Abeokuta for commerce, school and work. “In my own opinion, this project should have been given more priority than it was given by the previous administration; we should have not come to meet this project in the state as we have met it.”

Lawyer Writes Lottery Commission over N186m Winnings The National Lottery Regulatory Commission (NLRC) has received petitions dated February 17 and February 24, 2021, over unpaid sports bet winnings of over N186 million. Cephas Esemeka, Goodluck Solomon and Uloeze Odum claimed to have won N186, 554, 545 after placing bets with Bet Bonanza. They said they went to the

betting agent in Port Harcourt, the Rivers State capital, to cash out their reward but were informed that Bet Bonanza withdrew the funds already credited to the agent for their payment. Bet Bonanza informed the petitioners that the payments were withdrawn because the games were allegedly fixed, despite the fact that they placed bets on the same games with another company

and redeemed their winning. The petitioners expressed concern about NLRC’s delay in responding to their plea for help to get their cash rewards from Bet Bonanza. They attached evidence of the bets they placed, including ticket numbers and winning notifications. The petitioners’ lawyer, Victor Emerson, also sent another petition

dated February 24, 2021, to the NLRC director-general, saying that the commission was yet to respond to the petition of February 24, 2021, over three weeks after the NLRC received it. He added that the agency’s delay in attending to the petition “lends credence to our clients’ suspicions that the commission may have assumed a position on this issue to their detriment.”

˜ ͺ΁˜ ͺ͸ͺ͹ ˾ T H I S D AY

MONDAYSPORTS

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

Onuachu: Nigeria Will Win AFCON 2021 in Cameroon Scorer of Super Eagles AFCON 2021 lone goal winner against Benin Republic last weekend, Paul Onuachu, has said he

believes Nigeria will be in Cameroon to be champions of Africa again. The Genk Star in the Belgian Jupiler league came

Cameroon-bound Eagles Prepare for Fanfare with Crocodiles in Lagos The Super Eagles returned to Lagos from Benin Republic yesterday afternoon, savouring the victory over the Squirrels that shot them to an unassailable 11 points in their 2021 AFCON qualifying group and looking forward to a colourful houseparty against the Crocodiles of Lesotho at the Teslim Balogun Stadium. Substitute Paul Onuachu’s last-gasp bullet header secured all the points, restored the Nigeria team’s winning mentality and condemned Benin Republic to a dogfight with the Leone Stars in their own encounter in Freetown on Tuesday. A brace by Victor Osimhen and one each by Alex Iwobi and Samuel Chukwueze steered the Eagles to a 4-2 win over the Crocodiles when both teams met in Maseru 16 months ago. Nkoto Masoabi rose highest in-between two Nigerian defenders to nod powerfully past Daniel Akpeyi in the 11th minute before Nigeria, stung into action, pumped four goals past goalkeeper Moerane Sekhoane. An own goal by defender Chidozie Awaziem gave the scoreline a semblance of respectability

for the hosts. The Confederation of African Football has picked Cape Verde official Fabricio Duarte to take charge of proceedings as referee with his compatriots Jorge Correia Semedo Helio (assistant 1), Delgado Fernandes Wilson Jorge (assistant referee 2) and Antonio Manuel Fortes Tony Rodrigues (fourth official) also on duty. The match commissioner is Haruna Mawanda from Uganda while Nick Owusu from Ghana will serve as security officer. Alex Kotey, also from Ghana, will be referees’ assessor. The Nigeria Football Federation learnt that the Crocodiles’ delegation will fly into Nigeria this morning . The match commissioner and referees arrived in Nigeria on Sunday, while the security officer and referees’ assessor have been in Lagos since Saturday. Lesotho, who bravely held Sierra Leone to a scoreless draw in Maseru on Saturday but are no longer in the running for a ticket to Cameroon, will have their official training at the Teslim Balogun Stadium this eveningby 5pm.

NATIONAL SPORTS FESTIVAL

PTF, NCDC to Monitor Compliance with Covid-19 Guidelines Adibe Emenyonuin Benin City Officials of the Nigeria Centre for Disease Control (NCDC) and the Presidential Task Force on Covid-19 are expected to arrive Benin City, the Edo State capital, today, Monday, March 29th 2021, ahead of the commencement of the 20th National Sports Festival (NSF), tagged Edo 2020 to monitor compliance with the Covid-19 guidelines. In a statement, Chairman, Local Organising Committee and Edo State Deputy Governor, Rt. Hon. Philip Shaibu, said the Games Village will open on April 2, 2021, for athletes and officials. Shaibu noted that the Main Organising Committee (MOC) has decided that all athletes and officials from the 35 states and the FCT, participating in the National Sports Festival must take Covid-19 tests 72 hours before arrival for the tournament. He said, “The Games Village is to open on April 2, 2021, for athletes/officials. Athletes/officials are to present certificates and documentation of COVID-19 tests and

vaccination before they can be admitted into the Games Villages in the state. “In line with COVID-19 protocol, the number of athletes and officials expected to participate in the games have been reduced from 14,000 to 8,000 participants,” he added. According to him, “Officials of the Presidential Taskforce on COVID-19 and Nigeria Centre for Disease Control (NCDC) will arrive in Benin City four days prior to the commencement of the festival, to monitor compliance with COVID-19 guidelines.” Shaibu said the state government will make provision for logistics to check the spread of COVID-19, noting, “All the nonpharmaceutical measures to limit the spread of COVID-19 will be provided for by the state government at the various venues and camps. “Attendance at the games is strictly regulated, and the general public is advised to follow the activities across media platforms, including social platforms, as it will be streamed live,” the deputy governor added.

off the bench to score a stoppage time winner for Nigeria to stop home team Benin and advance to the AFCON in Cameroon in January. “We just have to go there and take the gold,” he declared. The Genk giant striker was only good enough to

be placed on standby list for these qualifiers despite his 27 goals in Belgium. However, he was later drafted to the main squad after one of the original call-ups pulled out. He said the fans clamour for his inclusion pushed him to do more in an Eagles shirt.

“Thank you to the nation, they pushed me to show what I have in the national team,” he acknowledged. “I did it and I am so happy for the team and the country. “It’s great for a striker to score.” Nigeria Starting XI vs Benin (4-2-3-1) – Maduka

Okoye – Zaidu Sanusi, Ola Aina (Chidozie Awaziem 83), Leon Balogun, William Ekong (Captain) – Wilfred Ndidi, Joe Aribo – Henry Onyekuru (Anayo Iwuala 81), Samuel Chukwueze, Kelechi Iheanacho (Paul Onuachu 70) – Victor Osimhen.

Nigeria’s hero against Benin Republic, Paul Onuachu (left), and Chidozie Awaziem Nigeria’s qualification for AFCON 2021 ...last Saturday I need Port Novo

CRICKET CHAMPIONSHIP

Lagos Tackles Kaduna in Men’s Championship Semis The on-going National Men’s Cricket Championship has entered a feverish pitch as Semi-final matches get underway with battle line drawn between Lagos and Kaduna today in Benin. Both teams, boast of truckloads of players with national caps under their belts and are both nursing sores from their last match defeats in the preliminaries. The uncanny similarities in the matches they both lost was that it happened in the last over. While Lagos seems to have rested four key players after loosing to a youthful

Edo side on Wednesday, Kaduna is coming to todays match under the weight of being handed a defeat by Oyo with the last ball on Saturday. The ODI series (50 overs) that the matches assume from the Semi final leaves room for a new look and different approach. For starters, the Kaduna team will field the National U-19 Captain Sylvester Ameh Okpe as its Captain while the Lagos team will field the past and current National Captain (Ademola Onikoyi and Joshua Ayannike) of the

Men’s team. The Kaduna’s team will also field Jimoh Mohammed, Daniel Gim, Gershon Yusuf, Simeon Samson, Danladi Isaac and Joel Tabat Joseph who have all played for the country. On the Lagos’ team list, Leke Oyede, Mustapha Yussuff, Femi Oduyebo, Sesan Adedeji, Taiwo Mohammed, Mohammed Moshood and Ayinde Tunde will all have put their reputation at stake for the epic match. “These are two teams with experience on their sides as against the two other Semi finalists, Oyo

and Edo” says Uyi Akpata the Vice President of the Nigeria Cricket Federation. “This makes this match one to watch. We will have a number of our technical team members on the sidelines to see these player’s performance and we hope we hope that they wont disappoint their state and hence give us cause to cheer.” He adds. The second Semi final match will against Oyo and Edo States on Tuesday, March 30, while the winner of each match will lock horns for a final on Wednesday March 31st.

North-east Elite Basketball Set to Dunk off The management of Adamu Yola Ture Foundation and the Jordan Nwora Foundation have agreed on terms for a 3-day Basketball Camp for the North Eastern states of Nigeria. The camp which is designed for young boys and girls between the ages of 14 to 19 will be drawn from six northeast states. Pastor Yakubu Adamu Yola who is the coordinator of the biggest football

tournament in the whole of the North-east and doubles as the organisers of this camp restated the foundation’s commitment to creating opportunities to empower young basketballers from their zone. “I am very delighted to say that the Foundation has agreed on terms with Jordan Nwora Foundation for a Junior Basketball Camp for the entire North-East states.

The major benefit of the camp is to give American Basketball/Education Scholarship opportunities to outstanding campers,” he stated. Speaking further, Yola said they are very committed to ensuring that young people from this part of the country have the same opportunities youths from other parts of the country enjoy and we have agreed to host 60 boys, 40 girls, 9 male

and 7 females coaches in the 3-day event.” The state Ministry of Youths and Sports of all the six northeast states are very glad that this golden opportunity to develop basketball in the zone is coming earlier than expected. T h e c a m p w h i ch has A d i d a s a s t h e o ff i c i a l kits company will take p l a c e i n G o m b e c i t y, Gombe State from April 9 - 11 , 2 0 2 1 .

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Ahmed to Buhari

“We can’t have a president who is sitting there and blaming the woes of the country on the opposition, that is not what we elected him for” – Hakeem Baba Ahmed, Director, Publicity and Advocacy of Northern Elders Forum (NEF), berating Buhari administration’s ineptitude.

ALEXOTTI OUTSIDE THE BOX

alex.otti@thisdaylive.com

John Magufuli: Against the ‘Magas’ and The ‘Fools’ ‘A genuine leader is not a searcher for consensus, but a moulder of consensus’ – Martin Luther King Jnr. ‘The art of leadership is saying no, not yes. It is very easy to say yes.’ - Tony Blair

arlier in the week, someone sent me a video of a news item about the ministers and senior government officials of Uganda sleeping at a major conference where the President of the country, Yoweri Museveni, was giving an important address. The list of the sleeping officials was shockingly long and included The Vice President, the Prime Minister and his Deputy, and the Finance Minister. In the telling video, the reporter interviewed some young man who insisted that, “had the President not been the one delivering the speech, he would have been sleeping too”. According to him, “the same sleeping group is the one the President enjoys working with; they are all tired, right from the President, the Vice President etc., those are grandfathers who should, for the few hours that they are awake, be playing with their grandchildren” the commentator concluded. Museveni, 77, came into power in 1986 after he led a rebellion that first toppled Idi Amin in 1979 and then Milton Obote in 1985. He has managed to hold on to power these past 35 years by tampering with the enshrined constitutional term limit in 2005 and then Presidential age limit in 2017. On January 16, 2021, he was ‘returned’ for the 6th term running, after a controversial election widely believed to have been manipulated. Inevitably, the country continues to wallow in poverty and underdevelopment while Museveni perpetuates himself in power. This is similar to the stories we hear in many African countries run by incompetent and gerontocratic rulers who manage to seize and hold on to power in perpetuity. For a change in this typical African story of despair, some cheering news came from the East African country, Tanzania, which incidentally, shares border with Uganda and Kenya. One of the landmarks of Tanzania is Mount Kilimanjaro, the highest mountain in Africa. At 947,303sq km, it is slightly larger than Nigeria with an estimated population of 56m people, one quarter the population of Nigeria. It has a nominal GDP size of about $66b with a per capita GDP of $1105. For comparison, Nigeria’s GDP size is estimated at $443b and GDP per capita is about $2150. From independence in 1961, Tanzania, just like many African countries, has had its fair share of challenges. Her first President, Mwalimu Julius Nyerere, was one of the foremost African nationalists who ruled the country from 1962 to 1985. After his regime, a constitutional term limit of two terms of 5 years, each was introduced. In October 2015, President John Pombe Magufuli was sworn in as the 5th President of Tanzania at the age of 55. In 2020, he was re-elected for his 2nd term. Sadly, by March 17, 2021, President Magufuli succumbed to the cold hands of death. The enigmatic and unassuming leader was a subject of numerous categorizations while alive and at his death, there were wide ranging comments on the way he led the country. Some of the headline stories following his demise, particularly those of the foreign media blamed his passing on his denial of, or his playing down the existence and dangers of the Covid 19 virus. Some others saw him as a global hero who led from his heart and without airs or caprice. Some referred to him as a ‘Bulldozer’ while some others have called him a petty dictator. It must be pointed out that

Magufuli the controversy and criticisms of John Magufuli had been on even while he was alive. Praises for him were even louder than the affronts of his critics. It is important to note that the ‘Bulldozer’ nickname preceded his election as President. It was a name he acquired during his tenure as the Tanzanian Minister of Works, between 2005 and 2015, when he was reportedly so effective, even if ruthless, in deploying infrastructure to the country. Subsequently, the negative connotation of the name was promoted in his presidency when he was alleged to have this time, muscled opposition, free press and free speech. None of these can diminish the fact that he lived and died as another Tanzanian hero and the beloved of his people. His funeral was a major national event and there was the touching outpouring of love during the event. Several citizens removed their clothes and laid them on the road of the cortege, in a show of gratitude and adulation that could rival those that accompanied the scenes of Caesar’s returning to ancient Rome in triumph. Indeed, apart from the masses, who lined up the streets in their numbers, many African presidents and eminent personalities descended on Dar El Salam, to give Magufuli, a deserved heroic burial on Friday March 26, 2021. Magufuli clearly demonstrated that any serious leader can achieve a lot for his people within the short period of 4 to 5 years. While second term of office is provided for in most national constitutions, just like life itself, it is never assured. Unfortunately, even some of those African leaders that attended his funeral would leave the event determined that second term and, in some cases, even third term, should be guaranteed, as contained in the despicable political rule book they themselves write and read. I am of the firm belief that what one cannot do in a few years, he is unlikely to do in many years. Magufuli was one, in the true tradition of Nyerere, who seemed to know that even if he got a second term, completing it was not guaranteed. He encountered a lot of challenges when he took over in 2015. He inherited a very corrupt system, where, for instance, the phenomenon of ghost workers was the hallmark of the nation’s civil service. This vice was compounded by laxity, absenteeism and general inefficiency in the public sector. Public spending was conducted with reckless abandon and there was very little adherence to laid down procedures. Just like some of us here in Nigeria have been screaming ourselves hoarse on the cost of governance in our country, President Magufuli, confronted wasteful expenditure culture of the civil service, head on.

The first casualty of his reform programme was the Independence Day celebration budget. Once he took over, he cancelled the entire celebration and directed that the funds thus saved be channeled into the rehabilitation of the Ubungo highway. This was an area of need as it had to do with major access into the city of Dar Es Salaam. Still in his first year in office, he stopped government officials from foreign trips except where those were absolutely necessary, in such cases, his prior approval must be secured. In one year, the Tanzanian government, saved $430m from the travel budget alone. He channeled the savings into free education and the remuneration of teachers and education workers. The immediate result was a massive increase in school enrolment, which was hitherto going down. My take is that he was one of the few African leaders, who was not only educated to the highest level, but understood the importance of quality education in the life of an individual and the nation. President Magufuli understood the way the economy worked and used that knowledge to the full benefit of his government and people. He understood that most of the lofty ideas he had needed to be financed. He also knew that the base of the Tanzanian economy was too small to generate enough revenue to achieve those dreams. Of course, he could have gone to borrow from international lenders, just like many of his contemporaries. He chose instead to do something about the country’s tax base, in order to increase internal revenue generation capacity. He ensured that he created the enabling environment for businesses to expand and grow while the government collected all that was due it. He had an eye on the agreed cap on debt to GDP ratio of 40%. He knew that to maintain this cap and not resort to borrowing, he had to fund all the development projects and government expenditure from internally generated revenue. As if he anticipated the pandemic which he is now being accused of being a skeptic, he reasoned that while not discouraging tourism, the economy needed to have a strong productive base for growth and local consumption. He believed, based on information available to him, that the mineral sector, which contributed about 4% of GDP could do a lot better, but for the corruption endemic in the sector. He made a few personnel changes and instituted an enquiry into some of the big mining companies who were alleged to be involved in tax fraud. One of those companies was made to pay back about $300m to government coffers, an amount generated by under-declared government funds spanning several years. John Magufuli followed up the war against fraud with massive reforms in the mineral sector. These included increase in royalties, enactment of a local content legislation of at the minimum 20% and government minority participation in ownership of mining companies. His engagement with Multinational Corporations showed him as a leader with courage and vision. Prior to his time, foreign companies were revered, and no one dared touch them. He forced renegotiation or outright cancellation of contracts and deals that were not in the interest of Tanzania. He cancelled what he called “exploitative and awkward” contracts with the Chinese. This won him a lot of accolades and popularity leading to the twitter hashtag #WhatWouldMagufulido? He massively took on the infrastructural development of the country and just before his death, he awarded a contract for the construction of a 341km standard gauge railway from the town of Mwanza on Lake Victoria to Isaka, a town in the Southern part of the country. It is also to his credit that huge investments were made in the Public bus mass transit system in Dar Es Salaam in addition to

rural electrification projects that are now littered in different parts of the country. There is no doubt that in economic terms, Tanzania is a poor country, however, the determined effort of Magufuli and his team saw the economy improve every year on the back of growing domestic capital and other factors of production. By 2019, economic growth had seen Tanzania’s GDP per capita inch up to $1080. In 2020, the World Bank had no choice but to announce the upgrade of the Tanzanian economy from low income to lower middle-income country. This is because Tanzania had crossed the threshold for low-income countries by almost $50 One more thing that Magufuli would be remembered for is that he maintained a clean record and high moral standards, throughout his years of service to his country. He ran the Works ministry for many years, awarding large contracts involving millions of dollars but he was never associated with bribes, kickbacks or fraud. He was above board and this helped in securing party leaders’ support to be nominated for the party’s ticket in 2015, when the favoured candidate Edward Lowassa, who had previously served as the Prime Minister, was forced to resign his position because of a corruption scandal. Naturally, as any other human being, he also had what many of his critics could point at as his negative side. He was accused of high handedness, authoritarianism and clamping down on opposition. He was also said to support some policies which many people in his country were against. For instance, a policy which prevented pregnant girls from going to school and expelled those already in school, resulted in tens of thousands of young girls being thrown out of school. The big one that western press made heavy weather of is his skepticism on the Coronavirus Pandemic and how several deaths would have been prevented had he taken the pandemic more seriously. They also alleged that his rhetoric was scaring foreign investors away from the country. While it is not for us to put these allegations to scrutiny, we opine that any leader who appears to have a mind of his own would always meet resistance from foreign interests and local agents. On the issue of authoritarianism, there appears a thin line between enforcing rules and respecting the rule of law. Sometimes, reasonable force may be required to get things done. A debate which I do not think has been resolved around the concept of “benevolent dictatorship” may be relevant here. The argument around scaring away foreign investment is well-worn and now sounds like a broken record, as studies have shown that foreign capital is attracted to profits, no matter where it is located. The final issue about the Tanzanian Covid controversy seemed to have gathered so much momentum that Magufuli’s re-election last year was practically hanging in the balance. However, it is our opinion that many world leaders, including President Donald Trump were skeptical about the Pandemic. Did it stop over 70m Americans from voting for him in the November 2020 election? Did it stop his MAGA, as different from the Maga used here, from supporting him, up to the point of staging an insurrection at the Capitol? Looking at the covid numbers as at March 25, 2021, while total cases worldwide was about 125.4m, US accounted for 30.7m while Tanzania accounted for 509 cases. With respect to deaths, as at the same date, total world death was 2.8m, while the US lost 558,000, Tanzania lost 21 people. I am not sure these numbers support the oft-repeated but clearly spurious claims that Magufuli’s Tanzania played down on the Pandemic leading to many deaths in the country.

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